|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash flows from operating activities |
|
|
|
| Net loss |
$ (22,608) |
$ (13,178) |
$ (20,691) |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
14,114 |
7,508 |
4,908 |
| Stock-based compensation |
22,460 |
16,978 |
12,459 |
| Abandonment of asset |
1,195 |
516 |
|
| Deferred income taxes |
487 |
(163) |
9,954 |
| Amortization of deferred tax charge |
938 |
938 |
963 |
| Excess tax benefit related to stock-based compensation |
(55) |
|
(2,060) |
| Amortization of premiums on marketable securities |
800 |
983 |
1,161 |
| Other noncash items |
2 |
(46) |
112 |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
(8,686) |
644 |
(4,442) |
| Inventories |
10,119 |
(1,873) |
822 |
| Prepaid expenses and other assets |
(3,255) |
(578) |
(164) |
| Income tax payable/receivable |
(576) |
3,045 |
2,657 |
| Accounts payable |
(1,302) |
379 |
682 |
| Accrued expenses |
(9,006) |
1,645 |
847 |
| Deferred revenue |
5,424 |
603 |
(846) |
| Other liabilities |
(1,665) |
1,257 |
106 |
| Net cash provided by operating activities |
8,386 |
18,658 |
6,468 |
| Cash flows from investing activities |
|
|
|
| Purchases of property and equipment |
(21,171) |
(16,578) |
(8,383) |
| Proceeds from sale of property and equipment |
|
|
237 |
| Purchases of marketable securities |
(38,557) |
(43,125) |
(47,030) |
| Sales and maturities of marketable securities |
89,872 |
42,226 |
44,667 |
| Purchase of patents |
(1,580) |
|
|
| Acquisition of Cortina, net of cash acquired |
(35,308) |
|
|
| Purchase of cost-method investment in private company |
(5,000) |
(2,621) |
|
| Net cash used in investing activities |
(11,744) |
(20,098) |
(10,509) |
| Proceeds from exercise of stock options and warrants |
4,298 |
2,905 |
1,828 |
| Excess tax benefit related to stock-based compensation |
55 |
|
2,060 |
| Proceeds from employee stock purchase plan |
2,668 |
2,221 |
943 |
| Minimum tax withholding paid on behalf of employees for restricted stock units |
(4,964) |
(2,180) |
(325) |
| Net cash provided by financing activities |
2,057 |
2,946 |
4,506 |
| Net increase (decrease) in cash and cash equivalents |
(1,301) |
1,506 |
465 |
| Cash and cash equivalents at beginning of year |
31,667 |
30,161 |
29,696 |
| Cash and cash equivalents at end of year |
30,366 |
31,667 |
30,161 |
| Acquisition of Cortina Systems, Inc. in exchange for common stock |
77,958 |
|
|
| Income taxes paid |
$ 715 |
$ 59 |
$ 99 |