Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities

v3.8.0.1
Accrued Liabilities
3 Months Ended
Mar. 31, 2018
Payables And Accruals [Abstract]  
Accrued Liabilities and Deferred Revenue

NOTE 8—ACCRUED LIABILITIES

Accrued liabilities are comprised of the following (in thousands):

 

 

March 31,

 

 

December 31,

 

 

2018

 

 

2017

 

Payroll and benefits

$

2,244

 

 

$

2,115

 

Warranty accrual, current portion

 

1,090

 

 

 

1,120

 

Taxes

 

441

 

 

 

544

 

Accrued professional services

 

695

 

 

 

584

 

Accrued insurance premium

 

197

 

 

 

870

 

Other

 

452

 

 

 

376

 

Total accrued liabilities

$

5,119

 

 

$

5,609

 

 

Changes in the initial product warranty accrual and the expenses incurred under the Company’s initial and extended warranties for the three months ended March 31, 2018 and 2017 are included within accrued liabilities on the Consolidated Balance Sheets and were as follows (in thousands):

 

 

Three Months Ended

 

 

March 31,

 

 

2018

 

 

2017

 

Initial warranty accrual, beginning balance

$

1,190

 

 

$

1,706

 

Provision for estimated warranty cost

 

246

 

 

 

(23

)

Warranty expenditures

 

(222

)

 

 

(223

)

 

 

1,214

 

 

 

1,460

 

Less warranty accrual, long-term

 

124

 

 

 

487

 

Total warranty accrual, current portion

$

1,090

 

 

$

973

 

 

The Company’s Waterlase laser systems sold worldwide are covered by a warranty against defects in material and workmanship for a period of up to 16 months from the date of sale by the Company or a distributor to the end-user. The Company’s Diode systems sold worldwide are covered by a warranty against defects in material and workmanship for a period of up to 28 months from the date of sale by the Company or a distributor to the end-user.