Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Stock-Based Compensation

Total stock-based compensation is reflected in the condensed consolidated statements of operations as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Cost of revenues	$	115	$	112	$	244	$	315
Research and development		99		149		244		509
Sales and marketing		230		155		370		491
General and administrative		206		315		534		1,263
Total	$	650	$	731	$	1,392	$	2,578

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the nine months ended September 30, 2015 is as follows:

	Options			Weighted Average Exercise Price
Outstanding at December 31, 2014		1,357,928		$	7.81
Granted		150,500			8.00
Exercised		(35,134	)		7.25
Expired or Cancelled		(110,683	)		9.00
Forfeited		(72,820	)		7.76
Outstanding at September 30, 2015		1,289,791		$	7.74
Exercisable at September 30, 2015		796,046		$	7.96

Information about Stock Options Outstanding Under all Stock Plans

The following table summarizes information about stock options outstanding under all stock option plans:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Contractual Life (Years)		Weighted- Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$5.50  -    $6.00		4,879		4.97	$	5.75		3,124	$	5.63
6.01  -      6.50		16,267		3.54		6.23		12,722		6.23
6.51  -      7.00		38,491		2.59		6.85		35,688		6.86
7.01  -      7.50		793,096		4.43		7.18		427,814		7.17
7.51  -      8.00		27,750		5.04		7.79		11,791		7.82
8.01  -      8.50		127,195		5.21		8.17		27,935		8.45
8.51  -      9.00		32,478		1.15		8.76		28,986		8.76
9.01  -      9.50		188,085		0.98		9.19		187,511		9.19
9.51  -    10.00		20,650		2.37		9.64		19,575		9.64
10.01  -    11.00		40,900		0.72		10.64		40,900		10.64
$5.50  -  $11.00		1,289,791		3.72	$	7.74		796,046	$	7.96

Weighted Average Contractual Life and Intrinsic Value of the Options Outstanding

The weighted average contractual life and intrinsic value at September 30, 2015, was the following:

	Weighted Average Contractual Life (years)		Intrinsic Value
Options Outstanding		3.72	$	1
Options Exercisable		2.93	$	1

Fair Value of Date of Grant Using Black-Scholes Option-Pricing Model

The Company calculated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model using the following assumptions at September 30^th:

	September 30,
	2015			2014
Dividend yield		3.4	%		2.2	%
Risk-free interest rate		0.6	%		0.5	%
Expected volatility		34	%		34	%
Expected life (in years)		5.2			5.2

Summary of Performance Share Activity

The following summarizes the performance unit activity during the nine months ended September 30, 2015:

	Units			Weighted Average Grant Date Fair Value
Unvested Performance Units - December 31, 2014		380,000		$	8.47
Units awarded		424,000			7.49
Units vested		(6,202	)		8.47
Units cancelled		(33,798	)		8.04
Unvested Performance Units - September 30, 2015		764,000		$	7.95

Calculation of Fair Value of Each Employee Stock Purchase Grant Using Black-Scholes Option-Pricing Model

The Company calculated the fair value of each employee stock purchase grant on the date of grant using the Black-Scholes option-pricing model using the following assumptions:

	September 30,
	2015			2014
Dividend yield		3.4	%		2.2	%
Risk-free interest rate		0.6	%		0.3	%
Expected volatility		34	%		38	%
Expected life (in years)		0.5			0.5

Restricted Stock [Member]

Summary of Restricted Stock Activity

The following table summarizes restricted stock activity for the nine months ended September 30, 2015:

	Shares			Weighted Average Grant Date Fair Value
Unvested Restricted Stock Awards - December 31, 2014		343,836		$	7.41
Shares awarded		633,079			6.81
Shares vested		(176,849	)		7.21
Shares cancelled		(19,701	)		7.77
Unvested Restricted Stock Awards - September 30, 2015		780,365		$	6.96

Restricted Stock Units [Member]

Summary of Restricted Stock Activity

The following table summarizes the restricted stock unit activity during the nine months ended September 30, 2015:

	Units			Weighted Average Grant Date Fair Value
Unvested Restricted Stock Units - December 31, 2014		4,600		$	7.47
Units awarded		4,350			7.49
Units vested		(2,475	)		7.00
Units cancelled		(1,750	)		7.91
Unvested Restricted Stock Units - September 30, 2015		4,725		$	7.47