The Company and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following table illustrates the reconciliation of the basic and diluted income (loss) per share computations required by Accounting Standards Codification (ASC) 260-10, “Earnings per Share” (in thousands, except share and per share data):

	Three-Month Period
	Ended March 31,
	2019		2018
Basic earnings per share:
Numerator:
Net income (loss)	$	1,424	$	(1,808	)
Denominator:
Weighted average common shares outstanding		86,101,741		90,319,092
Per share:
Net income (loss) per share	$	0.02	$	(0.02	)
Diluted earnings per share:
Numerator:
Net income (loss)	$	1,424	$	(1,808	)
Denominator:
Weighted average common shares outstanding		86,101,741		90,319,092
Dilutive securities:
Stock options and restricted stock units		1,051,246		-
Diluted shares outstanding		87,152,987		90,319,092
Per share:
Net income (loss) per share	$	0.02	$	(0.02	)

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets (in millions):

	March 31, 2019
	Total Fair Value
	and Carrying
	Value on Balance		Fair Value Measurement Category
(in millions)	Sheet		Level 1		Level 2			Level 3
Assets:
Money market account	$	36.7	$	-	$	36.7		$	-
Certificates of deposit	$	7.6	$	-	$	7.6		$	-
Corporate bonds	$	115.0	$	-	$		115.0	$	-
Liabilities:
Contingent Consideration	$	8.5	$	-	$		-	$	8.5
	December 31, 2018
	Total Fair Value
	and Carrying
	Value on Balance		Fair Value Measurement Category
	Sheet		Level 1		Level 2			Level 3
Assets:
Money market account	$	34.6	$	-	$	34.6		$	-
Certificates of deposit	$	8.2	$	-	$	8.2		$	-
Corporate bonds	$	124.2	$	-	$	124.2		$	-
Liabilities:
Contingent Consideration	$	8.1	$	-	$	-		$	8.1

Summary of Amortized Cost and Unrealized Gains (Losses) of Available for Sale Securities

As of March 31, 2019, the following table summarizes the amortized cost and the unrealized (gains) losses of the available for sale securities (in thousands):

	Certificates of Deposit					Corporate Bonds
	Amortized Cost		Unrealized (gains) losses			Amortized Cost		Unrealized (gains) losses
Due within a year	$	3,360	$	(3	)	$	35,056	$	(48	)
Due after one year through five years		4,202		1			80,268		(266	)
Total	$	7,562	$	(2	)	$	115,324	$	(314	)

Summary of Components of AOCI

Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and changes in the fair value of available for sale securities.

The following table provides a roll-forward of accumulated other comprehensive income (loss) for the three-month period ended March 31, 2019 (in millions):

	Foreign Currency Translation			Marketable Securities			Total
Accumulated other comprehensive income (loss) as of December 31, 2018	$	(0.4	)	$	(1.0	)	$	(1.4	)
Other comprehensive income (loss)		-			1.0			1.0
Income tax (expense) benefit		-			(0.2	)		(0.2	)
Other comprehensive income (loss), net of tax		-			0.8			0.8
Accumulated other comprehensive income (loss) as of March 31, 2019		(0.4	)		(0.2	)		(0.6	)