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RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS Revised Consolidated Statements of Operations (Tables)
6 Months Ended
Jun. 30, 2012
Revised Consolidated Statements of Operations [Table Text Block]
The following tables present the impact of the financial statement adjustments on the Company’s previously reported condensed consolidated statements of operations for the three and six months ended June 30, 2012 (in thousands except per share data):
 
Three Months Ended
 
June 30, 2012
 
As Previously Reported
Revenue Restatement Adjustments
Other Restatement Adjustments
Discontinued Operations
As Restated
Net revenues:
 
 
 
 
 
Products
$
123,026

$
25,270

$

$
(23,305
)
$
124,991

Services
34,405

6,080



40,485

Total net revenues
157,431

31,350


(23,305
)
165,476

Cost of revenues:
 
 
 
 
 
Products
69,275


(262
)
(18,030
)
50,983

Services
14,325


2,004


16,329

Amortization of intangible assets
644




644

Total cost of revenues
84,244


1,742

(18,030
)
67,956

Gross profit
73,187

31,350

(1,742
)
(5,275
)
97,520

Operating expenses:
 
 
 
 
 
Research and development
26,896


142

(777
)
26,261

Marketing and selling
43,454


(16
)
(1,156
)
42,282

General and administrative
13,905


15

(569
)
13,351

Amortization of intangible assets
1,105


1


1,106

Restructuring costs, net
15,841


(1,404
)

14,437

Gain on sale of assets
9,951



(9,951
)

Total operating expenses
111,152


(1,262
)
(12,453
)
97,437

 
 
 
 
 
 
Operating (loss) income
(37,965
)
31,350

(480
)
7,178

83

 
 
 
 
 
 
Interest income
14


2


16

Interest expense
(405
)

(2
)

(407
)
Other income
12




12

Loss from continuing operations before income taxes
(38,344
)
31,350

(480
)
7,178

(296
)
Provision for (benefit from) income taxes, net
903


(1,839
)

(936
)
(Loss) income from continuing operations, net of tax
(39,247
)
31,350

1,359

7,178

640

Discontinued operations:
 
 
 
 
 
Income from divested operations



2,773

2,773

Income from discontinued operations
$

$

$

$
2,773

$
2,773

Net (loss) income
$
(39,247
)
$
31,350

$
1,359

$
9,951

$
3,413

 
 
 
 
 
 
(Loss) income per common share – basic and diluted:
 
 
 
 
 
(Loss) income per share from continuing operations, net of tax – basic and diluted
$
(1.01
)
 
 
 
$
0.02

Income per share from discontinued operations – basic and diluted

 
 
 
0.07

Net (loss) income per common share – basic and diluted
$
(1.01
)
 
 
 
$
0.09

 
 
 
 
 
 
Weighted-average common shares outstanding – basic
38,778

 
 
 
38,778

Weighted-average common shares outstanding – diluted
38,778

 
 
 
38,778



 
Six Months Ended
 
June 30, 2012
 
As Previously Reported
Revenue Restatement Adjustments
Other Restatement Adjustments
Discontinued Operations
As Restated
Net revenues:
 
 
 
 
 
Products
$
242,964

$
55,834

$

$
(46,101
)
$
252,697

Services
66,607

5,323



71,930

Total net revenues
309,571

61,157


(46,101
)
324,627

Cost of revenues:
 
 
 
 
 
Products
130,483


(753
)
(33,265
)
96,465

Services
27,042


3,698



30,740

Amortization of intangible assets
1,294




1,294

Total cost of revenues
158,819


2,945

(33,265
)
128,499

Gross profit
150,752

61,157

(2,945
)
(12,836
)
196,128

Operating expenses:
 
 
 
 
 
Research and development
54,377


(102
)
(1,554
)
52,721

Marketing and selling
89,380


(2,913
)
(2,312
)
84,155

General and administrative
28,544


293

(1,138
)
27,699

Amortization of intangible assets
2,717




2,717

Restructuring costs, net
16,009


(1,128
)

14,881

Gain on sale of assets
9,951



(9,951
)

Total operating expenses
200,978


(3,850
)
(14,955
)
182,173

Operating (loss) income
(50,226
)
61,157

905

2,119

13,955

 
 
 
 
 
 
Interest income
115


30


145

Interest expense
(720
)

(30
)

(750
)
Other income
32




32

(Loss) income from continuing operations before income taxes
(50,799
)
61,157

905

2,119

13,382

Provision for income taxes, net
1,426


310


1,736

(Loss) income from continuing operations, net of tax
(52,225
)
61,157

595

2,119

11,646

Discontinued operations:
 
 
 
 
 
Income from divested operations



7,832

7,832

Income from discontinued operations



7,832

7,832

Net (loss) income
$
(52,225
)
$
61,157

$
595

$
9,951

$
19,478

 
 
 
 
 
 
(Loss) income per common share – basic and diluted:
 
 
 
 
 
(Loss) income per share from continuing operations, net of tax – basic and diluted
$
(1.35
)
 
 
 
$
0.30

Income per share from discontinued operations – basic and diluted

 
 
 
0.20

Net (loss) income per common share – basic and diluted
$
(1.35
)
 
 
 
$
0.50

 
 
 
 
 
 
Weighted-average common shares outstanding – basic
38,720

 
 
 
38,720

Weighted-average common shares outstanding – diluted
38,720

 
 
 
38,759