XML 53 R47.htm IDEA: XBRL DOCUMENT v2.4.0.8
CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock option plans
Information with respect to options granted under all stock option plans for the year ended December 31, 2013 was as follows:
 
Time-Based Shares
Performance-Based Shares
Total Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding at January 1, 2013
4,099,144

1,300,155

5,399,299

$17.68
 
 
Granted
208,000

1,088,000

1,296,000

$7.85
 
 
Exercised
—

—

—

$—
 
 
Forfeited or canceled
(1,069,229
)
(899,655
)
(1,968,884
)
$19.60
 
 
Options outstanding at December 31, 2013
3,237,915

1,488,500

4,726,415

$14.18
3.67
$411
Options vested at December 31, 2013 or expected to vest
 
 
4,626,329

$14.24
3.66
$402
Options exercisable at December 31, 2013
 
 
2,488,278

$17.36
2.44
$31


The performance-based stock options outstanding at December 31, 2013 will vest either upon the earlier of certain performance conditions being met or upon the Company’s stock price reaching certain amounts as defined in the agreements, or solely upon the achievement of a performance condition. The performance conditions are based upon the achievement of specified return on equity or operating margins, and the options are probable of vesting as of December 31, 2013. The stock options, however, will not become exercisable until the Company’s Board votes that the established performance conditions have been met. As of December 31, 2013, none of these performance-based options are exercisable.

The following table sets forth the weighted-average key assumptions and fair value results for stock options granted during the years ended December 31, 2013, 2012 and 2011 (Restated):
 
 
Year Ended December 31,
 
 
 
 
 
 
2011
 
 
2013
 
2012
 
(Restated)
Expected dividend yield
 
0.00%
 
0.00%
 
0.00%
Risk-free interest rate
 
0.87%
 
0.94%
 
2.03%
Expected volatility
 
50.1%
 
52.8%
 
41.4%
Expected life (in years)
 
4.68
 
4.56
 
4.48
Weighted-average fair value of options granted (per share)
 
$3.33
 
$4.89
 
$7.54
Non-vested restricted stock and restricted units
Information with respect to non-vested restricted stock units for the year ended December 31, 2013 was as follows:
 
Non-Vested Restricted Stock Units
 
Time-Based Shares
Performance-Based Shares
Total Shares
Weighted-
Average
Grant-Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic
Value
(in thousands)
Non-vested at January 1, 2013
261,406

401,750

663,156

$15.73
 
 
Granted
175,000

10,000

185,000

$7.84
 
 
Vested
(155,286
)
—

(155,286
)
$14.04
 
 
Forfeited
(75,887
)
(294,250
)
(370,137
)
$16.36
 
 
Non-vested at December 31, 2013
205,233

117,500

322,733

$11.30
3.91
$2,627
Expected to vest
 
 
297,751

$11.53
4.07
$2,424


The performance-based restricted stock units outstanding at December 31, 2013 will vest either upon the earlier of certain performance conditions being met or upon the Company’s stock price reaching certain amounts as defined in the agreements, or solely upon the achievement of a performance condition. The performance conditions are based upon the achievement of specified return on equity or operating margins, and the restricted stock units are probable of vesting as of December 31, 2013. The restricted stock units, however, will not become exercisable until the Company’s Board votes that the established performance conditions have been met. As of December 31, 2013, none of these performance-based restricted stock units are vested.

The following table sets forth the weighted-average key assumptions for restricted stock units with vesting based on market conditions or a combination of performance or market conditions granted during the year ended December 31, 2011 (Restated). There were no grants of restricted stock units with vesting based on market conditions or a combination of performance or market conditions during the years ended December 31, 2013 and 2012.

 
Year Ended
 
December 31, 2011
 
(Restated)
Expected dividend yield
0.00%
Risk-free interest rate
3.90%
Expected volatility
41.5%
Expected life (in years)
3.04
Weighted-average key assumptions for shares issued under the ESPP
The following table sets forth the weighted-average key assumptions and fair value results for shares issued under the ESPP during the years ended December 31, 2013, 2012 and 2011 (Restated):
 
Year Ended December 31,
 
 
 
 
 
2011
 
2013
 
2012
 
(Restated)
Expected dividend yield
0.00%
 
0.00%
 
0.00%
Risk-free interest rate
0.09%
 
0.08%
 
0.24%
Expected volatility
51.0%
 
51.5%
 
47.2%
Expected life (in years)
0.25
 
0.25
 
0.25
Weighted-average fair value of shares issued (per share)
$1.00
 
$1.30
 
$1.88

The following table sets forth the quantities and average prices of shares issued under the ESPP for the years ended December 31, 2013, 2012 and 2011 (Restated):
 
Year Ended December 31,
 
 
 
 
 
2011
 
2013
 
2012
 
(Restated)
Shares issued under the ESPP
27,936
 
142,658
 
124,219
Average price of shares issued
$6.29
 
$6.96
 
$9.71
Allocated share-based compensation expense

Stock-based compensation was included in the following captions in the Company’s consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 (Restated), respectively (in thousands):
 
Year Ended December 31,
 
 
 
 
 
2011
 
2013
 
2012
 
(Restated)
Cost of products revenues
$
360

 
$
410

 
$
487

Cost of services revenues
436

 
582

 
714

Research and development expenses
582

 
986

 
1,638

Marketing and selling expenses
1,778

 
3,754

 
4,306

General and administrative expenses
3,761

 
5,700

 
5,464

Total
$
6,917

 
$
11,432

 
$
12,609