Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Accounting Policies [Abstract] |
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| Schedule of Cash and Cash Equivalents |
Cash and cash equivalents at the end of each period were as follows (in thousands):
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September 30, 2015 |
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December 31, 2014 |
Cash |
$ |
61,986 |
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$ |
37,314 |
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Cash equivalents |
32,579 |
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|
7,502 |
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Total cash and cash equivalents |
$ |
94,565 |
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$ |
44,816 |
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| Schedule of Accrued Expenses |
Other accrued expenses at the end of each period were as follows (in thousands):
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September 30, 2015 |
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December 31, 2014 |
Sales returns |
$ |
1,196 |
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$ |
654 |
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Employee-related |
11,043 |
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|
4,620 |
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Warehousing, inventory-related and other |
2,187 |
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|
1,469 |
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Total other accrued expenses |
$ |
14,426 |
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$ |
6,743 |
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| Available-for-sale Securities |
Available-for-sale investments included in cash equivalents at the end of each period were as follows (in thousands):
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September 30, 2015 |
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December 31, 2014 |
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Adjusted Cost |
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Gross Unrealized Gains |
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Fair Value |
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Adjusted Cost |
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Gross Unrealized Gains |
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Fair Value |
Municipal bonds and notes |
$ |
7,420 |
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$ |
2 |
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$ |
7,422 |
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$ |
— |
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$ |
— |
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$ |
— |
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Financial institution instruments |
25,157 |
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— |
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25,157 |
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|
7,502 |
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— |
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|
7,502 |
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Total available-for-sale investments |
$ |
32,577 |
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|
$ |
2 |
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$ |
32,579 |
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$ |
7,502 |
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$ |
— |
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$ |
7,502 |
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| Schedule of Accumulated Other Comprehensive Income (Loss) |
The changes in accumulated other comprehensive income by component for the first nine months of 2015 were as follows (in thousands):
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Foreign Currency Translation Adjustment |
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Unrealized Gains on Available-For-Sale Investments |
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Total |
Balance, December 31, 2014 |
$ |
62 |
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|
$ |
— |
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|
$ |
62 |
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Other comprehensive income before reclassifications |
35 |
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|
2 |
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|
37 |
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Amounts reclassified out of accumulated other comprehensive income |
(82 |
) |
|
— |
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(82 |
) |
Balance, September 30, 2015 |
$ |
15 |
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$ |
2 |
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$ |
17 |
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| Schedule of Earnings Per Share, Basic and Diluted |
The following table illustrates the computation of basic and diluted income per share for the periods indicated (in thousands, except per share data):
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Three Months Ended September 30, |
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2015 |
|
2014 |
|
Income
(Numerator)
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Shares
(Denominator)
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|
Per Share Amount |
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Income
(Numerator)
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Shares
(Denominator)
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|
Per Share Amount |
Basic EPS: |
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Net income available to common stockholders |
$ |
14,531 |
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$ |
5,385 |
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Less: undistributed earnings to participating securities |
— |
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(32 |
) |
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Net income allocated to common stockholders |
14,531 |
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|
12,239 |
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$ |
1.19 |
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|
5,353 |
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|
12,455 |
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$ |
0.43 |
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Effect of dilutive securities: |
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Warrants to purchase common stock |
— |
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— |
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— |
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|
286 |
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Non-vested restricted stock |
— |
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|
45 |
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— |
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33 |
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Plus: reallocation of undistributed earnings to participating securities |
— |
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1 |
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Diluted EPS: |
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Net income allocated to common stockholders plus assumed conversions |
$ |
14,531 |
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|
12,284 |
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$ |
1.18 |
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$ |
5,354 |
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|
12,774 |
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$ |
0.42 |
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Nine Months Ended September 30, |
|
2015 |
|
2014 |
|
Income
(Numerator)
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|
Shares
(Denominator)
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|
Per Share Amount |
|
Income
(Numerator)
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|
Shares
(Denominator)
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|
Per Share Amount |
Basic EPS: |
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Net income available to common stockholders |
$ |
33,542 |
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$ |
14,559 |
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Less: undistributed earnings to participating securities |
— |
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(112 |
) |
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Net income allocated to common stockholders |
33,542 |
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|
12,364 |
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$ |
2.71 |
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|
14,447 |
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|
11,883 |
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$ |
1.22 |
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Effect of dilutive securities: |
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Warrants to purchase common stock |
— |
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27 |
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— |
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|
487 |
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Non-vested restricted stock |
— |
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|
48 |
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— |
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54 |
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Plus: reallocation of undistributed earnings to participating securities |
— |
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5 |
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Diluted EPS: |
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Net income allocated to common stockholders plus assumed conversions |
$ |
33,542 |
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|
12,439 |
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$ |
2.70 |
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$ |
14,452 |
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|
12,424 |
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$ |
1.16 |
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