Note 6 - Derivative Financial Instruments

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

6. Derivative Financial Instruments

Beginning in

May

2015,

the Company entered into a series of forward foreign currency contracts to mitigate its exposure to fluctuations in the U.S. dollar value of forecasted transactions denominated in Swiss Franc. The Company elected not to apply hedge accounting to these instruments. As a result, during the years ended

December

31,

2016

and

2015,

the Company experienced unrealized gains and (losses) within other income (expense), net, in the consolidated statements of operations from the mark-to-market of outstanding forward foreign currency contracts. As of

December

31,

2016,

all forward foreign currency contracts had been settled and are no longer outstanding.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet (in thousands):

		Balance Sheet line item		Gross amounts of recognized liabilities		Gross amount offset in consolidated balance sheet		Net Amount
December 31, 2016	Forward foreign currency contracts		Other current liabilities	$	-	$	-	$	-
December 31, 2015	Forward foreign currency contracts		Other current liabilities		537		-		537