| Supplemental Balance Sheet Disclosures |
NOTE 3 — SUPPLEMENTARY BALANCE SHEET INFORMATION
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December 31, |
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ACCOUNTS RECEIVABLE (in thousands): |
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2013 |
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2012 |
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Components of accounts receivable, net of allowances, are as follows: |
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Trade |
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$ |
10,960 |
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$ |
11,456 |
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Royalties |
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82 |
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45 |
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Other |
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85 |
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179 |
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Total receivables, net |
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$ |
11,127 |
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$ |
11,680 |
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Accounts receivable is net of allowances for doubtful accounts of approximately $573,000 and $304,000 and sales returns of approximately $110,000 and $110,000 at December 31, 2013 and 2012, respectively.
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December 31, |
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INVENTORY, NET (in thousands): |
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2013 |
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2012 |
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Components of inventory, net of allowances, are as follows: |
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Raw materials |
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$ |
3,094 |
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$ |
4,017 |
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Work-in-process |
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1,727 |
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1,949 |
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Finished goods |
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6,557 |
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5,176 |
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Inventory, net |
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$ |
11,378 |
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$ |
11,142 |
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Inventory is net of a provision for excess and obsolete inventory totaling approximately $2.8 million and $1.9 million at December 31, 2013 and 2012, respectively.
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December 31, |
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PROPERTY, PLANT, AND EQUIPMENT, NET (in thousands): |
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2013 |
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2012 |
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Components of property, plant, and equipment, net of depreciation, are as follows: |
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Building |
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$ |
256 |
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$ |
246 |
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Leasehold improvements |
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1,207 |
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1,193 |
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Equipment and computers |
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6,078 |
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5,219 |
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Furniture and fixtures |
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1,049 |
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1,046 |
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Construction in progress |
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8 |
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132 |
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8,598 |
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7,836 |
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Accumulated depreciation and amortization |
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(6,971 |
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(6,518 |
) |
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1,627 |
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1,318 |
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Land |
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199 |
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191 |
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Property, plant, and equipment, net |
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$ |
1,826 |
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$ |
1,509 |
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On August 21, 2012, pursuant to a Sale and Purchase Agreement entered on June 12, 2012, the Company sold the smaller of two buildings and a portion of the land parcel of its two-building property in Floss, Germany. The purchase price of approximately $136,000 was reduced by transaction costs, resulting in net proceeds of approximately $124,000. The Company recorded a realized gain on the sale of these assets of approximately $3,000 during the year ended December 31, 2012. The Company also undertook an appraisal of the remaining land and building at the Floss property and determined that no impairment charge was necessary.
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December 31, |
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ACCRUED LIABILITIES (in thousands): |
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2013 |
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2012 |
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Components of accrued liabilities are as follows: |
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Payroll and benefits |
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$ |
1,898 |
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$ |
2,326 |
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Warranty accrual, current portion |
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1,096 |
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1,699 |
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Sales and excise tax |
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322 |
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763 |
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Accrued professional services |
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912 |
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502 |
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Accrued insurance premium |
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428 |
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751 |
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Other |
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341 |
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226 |
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Accrued liabilities |
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$ |
4,997 |
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$ |
6,267 |
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December 31, |
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DEFERRED REVENUE (in thousands): |
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2013 |
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2012 |
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Components of deferred revenue are as follows: |
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Undelivered elements (training, installation, product and support services) |
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$ |
1,823 |
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$ |
1,723 |
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Extended warranty contracts |
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1,642 |
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1,506 |
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Total Deferred Revenue |
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3,465 |
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3,229 |
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Less Long-Term amounts: |
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Extended warranty contracts |
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(1 |
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(3 |
) |
Total Deferred Revenue — Long Term |
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(1 |
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(3 |
) |
Total Deferred Revenue — Current |
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$ |
3,464 |
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$ |
3,226 |
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