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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 8,466,680 $ 4,315,995 $ 3,687,567
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,002,391 3,320,352 1,293,468
Stock-based compensation expense 1,190,697 1,102,617 958,025
Deferred income taxes 1,989,708 1,953,946 1,735,947
Provision for doubtful accounts 331,528 302,723  
Provision for inventory 1,427,862 699,057 350,220
Tax benefit from exercise of stock options (274,190) (65,434) (27,349)
Changes in operating assets and liabilities, net of effect of acquisition:      
Accounts receivable (2,998,037) (3,716,478) (1,697,673)
Inventories 224,714 (1,220,359) (1,871,545)
Prepaid expenses and other current assets 947,263 445,650 (774,764)
Long-term deposits and other 179,939 28,239 93,559
Accounts payable (6,594,292) 5,784,731 141,083
Accrued expenses 1,042,845 (2,188,082) 1,718,307
Deferred revenue (213,888) (2,751,468) (2,680,831)
Income taxes payable 450,482    
Other long-term liabilities (568) (158,028) 168,691
Net cash provided by operating activities 10,173,134 7,853,461 3,094,705
Cash flows from investing activities:      
Purchase of property and equipment, net (1,400,348) (2,784,977) (3,962,232)
Payment for the acquisition of Anika S.r.l., net of cash acquired     (16,255,637)
Reduction in purchase price of acquisition   105,300  
Net cash used in investing activities (1,400,348) (2,679,677) (20,217,869)
Cash flows from financing activities:      
Principal payments on debt (1,600,000) (1,600,000) (1,600,000)
Debt Issuance Costs     (74,000)
Proceeds from exercise of stock options 160,470 197,246 3,150
Tax benefit from exercise of stock options 274,190 65,434 27,349
Net cash used in financing activities (1,165,340) (1,337,320) (1,643,501)
Exchange rate impact on cash (32,156) (61,522)  
Increase (decrease) in cash and cash equivalents 7,575,290 3,774,942 (18,766,665)
Cash and cash equivalents at beginning of period 28,201,932 24,426,990 43,193,655
Cash and cash equivalents at end of period 35,777,222 28,201,932 24,426,990
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 2,651,212 360,000 1,210,000
Cash paid for interest 193,880 222,919 208,053
Supplemental disclosure of cash flow information:      
Fair value of assets of Anika S.r.l. and product lines     50,539,846
Cash paid for Anika S.r.l. and product lines     17,055,000
Fair value of common stock issued to acquire Anika S.r.l.     16,820,320
Liabilities assumed of acquired businesses and product lines     $ 16,664,611