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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues $ 38,768 $ 35,219 $ 102,591 $ 110,501
Cost of revenues (1) [1] 21,418 20,646 57,639 65,158
Gross profit 17,350 14,573 44,952 45,343
Operating expenses:        
Research and development, net (2) [2] 8,504 8,709 26,430 26,680
Sales and marketing (3) [3] 3,617 3,071 10,332 9,108
General and administrative (4) [4] 2,064 2,409 6,622 7,390
Intangible assets amortization 390 321 1,032 963
Other income (2,549) (2,549)
Total operating expenses 12,026 14,510 41,867 44,141
Operating income 5,324 63 3,085 1,202
Interest and other income, net 344 245 910 871
Income before taxes on income 5,668 308 3,995 2,073
Taxes on income 334 141 494 403
Net income $ 5,334 $ 167 $ 3,501 $ 1,670
Net earnings per share:        
Basic (in dollars per share) $ 0.24 $ 0.01 $ 0.16 $ 0.08
Diluted (in dollars per share) $ 0.23 $ 0.01 $ 0.15 $ 0.07
Basic (in shares) 21,943 21,830 21,798 22,020
Diluted (in shares) 23,185 22,868 22,882 23,490
[1] Includes equity-based compensation expense in the amount of $98 and $75 for the three months ended September 30, 2016 and 2015, and $242 and $228 for the nine months ended September 30, 2016 and 2015, respectively.
[2] Includes equity-based compensation expense in the amount of $668 and $546 for the three months ended September 30, 2016 and 2015, respectively; and $1,615 and $1,697 for the nine months ended September 30, 2016 and 2015, respectively.
[3] Includes equity-based compensation expense in the amount of $230 and $161 for the three months ended September 30, 2016 and 2015, respectively; and $555 and $491 for the nine months ended September 30, 2016 and 2015, respectively.
[4] Includes equity-based compensation expense in the amount of $465 and $479 for the three months ended September 30, 2016 and 2015, respectively; and $1,293 and $1,509 for the nine months ended September 30, 2016 and 2015, respectively.