3. Financial Statement Details (in millions)
Short-Term Marketable Securities, Available for Sale
As of December 31, 2012, we had no investments that were in significant unrealized loss position. Short-term investment securities, consisting solely of debt securities with contractual maturities of less than one year, were as follows:
| December 31, 2012 | ||||||||||||||||
| Amortized Cost |
Gross Unrealized Gains |
Gross Unrealized Losses |
Estimated Market Value |
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U.S. government agencies |
$ | 31.8 | $ | 0.0 | $ | 0.0 | $ | 31.8 | ||||||||
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Commercial paper |
0.8 | 0.0 | 0.0 | 0.8 | ||||||||||||
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Corporate debt |
8.0 | 0.0 | 0.0 | 8.0 | ||||||||||||
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Total |
$ | 40.6 | $ | 0.0 | $ | 0.0 | $ | 40.6 | ||||||||
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| December 31, 2011 | ||||||||||||||||
| Amortized Cost |
Gross Unrealized Gains |
Gross Unrealized Losses |
Estimated Market Value |
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U.S. government agencies |
$ | 61.9 | $ | 0.0 | $ | 0.0 | $ | 61.9 | ||||||||
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Commercial paper |
7.5 | 0.0 | 0.0 | 7.5 | ||||||||||||
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Corporate debt |
10.0 | 0.0 | 0.0 | 10.0 | ||||||||||||
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Total |
$ | 79.4 | $ | 0.0 | $ | 0.0 | $ | 79.4 | ||||||||
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Accounts Receivable
| December 31, | ||||||||
| 2012 | 2011 | |||||||
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Accounts receivable |
$ | 20.7 | $ | 13.2 | ||||
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Less allowance for doubtful accounts, sales returns and discounts |
(1.2 | ) | (0.7 | ) | ||||
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Total |
$ | 19.5 | $ | 12.5 | ||||
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Inventory
| December 31, | ||||||||
| 2012 | 2011 | |||||||
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Raw materials |
$ | 2.5 | $ | 4.6 | ||||
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Work in process |
0.4 | 0.6 | ||||||
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Finished goods |
4.5 | 3.0 | ||||||
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Total |
$ | 7.4 | $ | 8.2 | ||||
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Property and Equipment
| December 31, | ||||||||
| 2012 | 2011 | |||||||
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Furniture and fixtures |
$ | 2.5 | $ | 2.4 | ||||
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Computer equipment |
12.0 | 9.2 | ||||||
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Machinery and equipment |
16.2 | 12.9 | ||||||
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Leasehold improvements |
9.3 | 7.0 | ||||||
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Total |
40.0 | 31.5 | ||||||
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Accumulated depreciation and amortization |
(21.1 | ) | (16.5 | ) | ||||
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Property and equipment, net |
$ | 18.9 | $ | 15.0 | ||||
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Depreciation and amortization expense related to property and equipment for the years ended December 31, 2012, 2011, and 2010 was $6.1 million, $3.8 million, and $2.4 million, respectively.
Goodwill and Intangible Assets
Goodwill and intangible assets as of December 31, 2012 consisted of the following (in millions, except months):
| Weighted-Average Amortization Period (in months) |
Gross Amount |
Accumulated Amortization |
Intangible Assets, net | |||||||||||||
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Intangible assets subject to amortization |
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Developed technology |
109 | $ | 3.2 | $ | (0.3 | ) | $ | 2.9 | ||||||||
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Customer-related intangible |
70 | 0.6 | (0.1 | ) | 0.5 | |||||||||||
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Covenants not-to-compete |
70 | 0.6 | (0.1 | ) | 0.5 | |||||||||||
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Total |
$ | 4.4 | $ | (0.5 | ) | $ | 3.9 | |||||||||
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Intangible assets not subject to amortization |
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In-process research and development |
0.2 | |||||||||||||||
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Trademarks and trade names |
0.1 | |||||||||||||||
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Goodwill |
3.2 | |||||||||||||||
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Total |
$ | 3.5 | ||||||||||||||
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Total expense related to amortization of intangible assets was $0.5 million for the year ended December 31, 2012, compared to none for each of the same periods in 2011 and 2010.
The following table sets forth the total future amortization expense related to intangible assets subject to amortization as of December 31, 2012:
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Fiscal Year Ending |
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2013 |
$ | 0.6 | ||
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2014 |
0.6 | |||
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2015 |
0.6 | |||
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2016 |
0.5 | |||
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2017 |
0.5 | |||
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Thereafter through 2021 |
1.1 | |||
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Total |
$ | 3.9 | ||
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Accounts Payable and Accrued Liabilities
| December 31, | ||||||||
| 2012 | 2011 | |||||||
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Accounts payable trade |
$ | 3.9 | $ | 2.8 | ||||
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Accrued tax, audit, and legal fees |
0.7 | 0.7 | ||||||
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Clinical trials |
0.1 | 0.2 | ||||||
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Accrued other including warranty |
2.8 | 2.6 | ||||||
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Acquisition-related liabilities |
1.2 | 0.0 | ||||||
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Total |
$ | 8.7 | $ | 6.3 | ||||
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Accrued Payroll and Related Expenses
| December 31, | ||||||||
| 2012 | 2011 | |||||||
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Accrued paid time off |
$ | 2.3 | $ | 1.9 | ||||
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Accrued wages, bonus and taxes |
6.1 | 4.3 | ||||||
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Other accrued employee benefits |
0.8 | 0.6 | ||||||
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Total |
$ | 9.2 | $ | 6.8 | ||||
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Accrued Warranty
| Year Ended December 31, | ||||||||
| 2012 | 2011 | |||||||
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Beginning balance |
$ | 0.3 | $ | 0.4 | ||||
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Charges to costs and expenses |
1.9 | 1.8 | ||||||
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Costs incurred |
(1.9 | ) | (1.9 | ) | ||||
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Ending balance |
$ | 0.3 | $ | 0.3 | ||||
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