Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Net Revenue by Product Category

The Company uses three product categories for reporting revenue.  The following table sets forth, for the periods indicated, net revenue by product category along with the percent change from the previous year:

	For Years Ended December 31,
	2012					2011					2010
	Net Revenue		Percent Change			Net Revenue		Percent Change			Net Revenue		Percent Change
Catheter products	$	61,262,000		16	%	$	53,040,000		27	%	$	41,907,000		37	%
Hemostat products		22,676,000		(2	%)		23,065,000		(6	%)		24,579,000		-	%
Vein products		14,098,000		34	%		10,484,000		(4	%)		10,933,000		(4	%)
Total product revenue		98,036,000		13	%		86,589,000		12	%		77,419,000		16	%
License & Collaboration		350,000		(90	%)		3,367,000		229	%		1,024,000		(40	%)
Total Net Revenue	$	98,386,000		9	%	$	89,956,000		15	%	$	78,443,000		15	%

Schedule of Inventory

Inventories are stated at the lower of cost (first-in, first-out method) or market.   Appropriate consideration is given to deterioration, obsolescence and other factors in evaluating net realizable value.  Inventories are comprised of the following at December 31:

	2012		2011
Raw materials	$	6,674,000	$	7,107,000
Work-in-process		780,000		1,369,000
Finished goods		6,283,000		6,312,000
	$	13,737,000	$	14,788,000

Property, Plant and Equipment

Property, plant and equipment are stated at cost.  Depreciation is provided on a straight-line basis over the estimated useful lives of the assets as follows:

Manufacturing equipment	1 to 8 years
Office and computer equipment	1 to 5 years
Furniture and fixtures	3 to 8 years
Leasehold improvements	Shorter of useful life or remaining term of the lease
Research and development equipment	3 to 7 years
Building	30 years

Warranty Provisions and Claims

Warranty provisions and claims for the years ended December 31, 2012, 2011 and 2010, were as follows:

	2012			2011			2010
Beginning balance	$	23,000		$	13,000		$	73,000
Warranty provisions		57,000			79,000			4,000
Warranty claims		(51,000	)		(69,000	)		(64,000	)
Ending balance	$	29,000		$	23,000		$	13,000

Share-based Compensation Expense

The following amounts have been recognized as stock-based compensation expense in the Consolidated Statements of Operations:

	2012		2011		2010
Stock-based compensation included in:
Cost of goods sold	$	94,000	$	86,000	$	225,000
Research and development		389,000		250,000		293,000
Clinical and regulatory		313,000		239,000		115,000
Sales and marketing		941,000		825,000		769,000
General and administrative		1,246,000		850,000		672,000
	$	2,983,000	$	2,250,000	$	2,074,000

Share-based Payment Award, Stock Options, Valuation Assumptions

The Company uses the Black-Scholes option-pricing model to estimate fair value of stock-based awards with the following weighted average assumptions:

	2012			2011			2010
Stock Options and Awards:
Expected life (years)		6.50			5.50			5.50
Expected volatility		48	%		49	%		50	%
Dividend yield		0	%		0	%		0	%
Risk-free interest rate		1.21	%		2.12	%		2.42	%
Employee Stock Purchase Plan:
Expected life (years)		2.0			2.0			2.0
Expected volatility		32	%		34	%		48	%
Dividend yield		0	%		0	%		0	%
Risk-free interest rate		0.28	%		0.47	%		0.69	%

Weighted Average Number of Shares in Earnings Per Share Comptations

The number of shares used in earnings per share computations is as follows for the years ended December 31:

	2012		2011		2010
Weighted average common shares outstanding—     basic		16,003,932		16,638,078		16,478,206
Effect of dilutive securities		451,797		545,501		530,012
Weighted average common shares outstanding—        diluted		16,455,729		17,183,579		17,008,218

Estimated Useful Life of Intangible Assets

Amortization on the intangibles is provided on a straight-line basis over the estimated useful lives of the assets as follows:

Trademark/tradename	10 to 11 years
Purchased technology	9 to 11 years
Customer relationships	9 years
Licenses	5 to 10 years