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Stock Options And Employee Stock Purchase Plan (Tables)
9 Months Ended
Sep. 30, 2013
Stock Options Activity
The following table represents stock option activity for the nine months ended September 30, 2013:
 
Number of
Shares
 
Weighted-
Average
Exercise
Price
 
Weighted-Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value
Outstanding at January 1, 2013
1,765,461

 
$
22.08

 
 
 
 
Granted

 

 
 
 
 
Exercised
(562,173
)
 
24.04

 
 
 
 
Canceled
(20,600
)
 
21.79

 
 
 
 
Outstanding at September 30, 2013
1,182,688

 
21.16

 
4.3
 
$
33,542,013

Exercisable at September 30, 2013
836,229

 
20.25

 
3.3
 
$
24,476,289

Vested and expected to vest at September 30, 2013
1,127,602

 
$
20.94

 
4.1
 
$
32,231,627


Assumptions To Estimate Fair Value Of Stock Options
The weighted-average fair values of stock options granted have been estimated utilizing the following assumptions, no stock options were granted during the nine month period ended September 30, 2013:
 
 
Nine Months Ended September 30,
 
 
2012
Risk-free interest rate
 
0.91%
Expected term (in years)
 
5.7
Dividend yield
 
3.09%
Expected volatility
 
41%
Weighted-average volatility
 
41%
Allocation Of Share-Based Compensation Expense
The following table represents share-based compensation expense included in cost of revenues and operating expenses in the accompanying condensed consolidated statements of income for the three and nine months ended September 30, 2013 and 2012 (in thousands):

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Cost of revenues
$
162

 
$
199

 
$
581

 
$
633

Operating expenses:
 

 
 

 
 
 
 

Sales and marketing
465

 
390

 
1,315

 
1,117

Research, development and engineering
103

 
111

 
311

 
344

General and administrative
1,695

 
1,703

 
4,901

 
4,757

Total
$
2,425

 
$
2,403

 
$
7,108

 
$
6,851


Restricted Stock [Member]
 
Restricted Stock And Restricted Stock Unit Award Activity
Restricted stock award activity for the nine months ended September 30, 2013 is set forth below:
 
Shares
 
Weighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 2013
828,475

 
$
23.08

Granted
178,430

 
38.40

Vested
(291,841
)
 
21.33

Canceled
(43,900
)
 
24.46

Nonvested at September 30, 2013
671,164

 
$
27.82

Restricted Stock Units (RSUs) [Member]
 
Restricted Stock And Restricted Stock Unit Award Activity
Restricted stock unit award activity for the nine months ended September 30, 2013 is set forth below:

 
Number of
Shares
 
Weighted-Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value
Outstanding at January 1, 2013
115,466

 
 
 
 
Granted
26,675

 
 
 
 
Vested
(10,116
)
 
 
 
 
Canceled
(33,000
)
 
 
 
 
Outstanding at September 30, 2013
99,025

 
2.3
 
$
4,903,718

Vested and expected to vest at September 30, 2013
67,640

 
2.0
 
$
3,349,522