Subsequent Events (Notes)

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

On July 15, 2016, the Company redeemed all of its outstanding 3.75% Convertible Senior Notes with an aggregate principle amount of $60,000. Under the terms of the indenture, holders of the Notes were paid cash up to the aggregate principal amount of the notes and shares of common stock for the remainder of our conversion, with any fracional shares paid in cash. As a result of this redemption, the Company eliminated its debt and will have cash savings in annual interest payments of $2,250. The conversion resulted in the issuance of 540 shares of common stock to the bondholders, but resulted in no dilution to Rudolph shareholders as these shares were covered by a convertible note hedge that was entered into by the Company in 2011 at the time of issuance of the notes.

See Note 7 for additional discussion regarding the debt obligation of the Company’s Convertible Senior Notes.