|
Income Taxes (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Components of Income (Loss) Before Provision (Benefit) from Income Taxes |
The domestic
and international components of income (loss) before provision
(benefit) from income taxes are presented as follows:
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Years Ended
December 31, |
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| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
Domestic
|
|
$ |
(11,918) |
|
|
$ |
(13,775) |
|
|
$ |
6,465 |
|
|
Foreign
|
|
|
(993 |
) |
|
|
(1,256 |
) |
|
|
(2,722 |
) |
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|
|
|
|
|
|
|
|
|
|
|
|
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Income (loss) before
taxes
|
|
$ |
(12,911) |
|
|
$ |
(15,031) |
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|
$ |
3,743 |
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| Components of Income Tax Provision (Benefit) |
Income tax
provision (benefit) consists of the following:
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Years Ended
December 31, |
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2012 |
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2011 |
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|
2010 |
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|
Current:
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|
|
|
|
|
|
|
|
|
|
|
|
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Federal
|
|
$ |
— |
|
|
$ |
236 |
|
|
$ |
126 |
|
|
State
|
|
|
— |
|
|
|
20 |
|
|
|
163 |
|
|
Foreign
|
|
|
351 |
|
|
|
69 |
|
|
|
22 |
|
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|
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|
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|
|
|
|
|
|
|
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Total current
|
|
|
351 |
|
|
|
325 |
|
|
|
311 |
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
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Federal
|
|
|
(4,162 |
) |
|
|
(5,183 |
) |
|
|
1,336 |
|
|
State
|
|
|
(2,062 |
) |
|
|
(1,731 |
) |
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|
(104 |
) |
|
Foreign
|
|
|
— |
|
|
|
685 |
|
|
|
(685 |
) |
|
Change in valuation
allowance
|
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|
6,214 |
|
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|
12,897 |
|
|
|
(7,229 |
) |
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Total deferred
|
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|
(10 |
) |
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|
6,668 |
|
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|
(6,682 |
) |
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Total income tax provision
(benefit)
|
|
$ |
341 |
|
|
$ |
6,993 |
|
|
$ |
(6,371 |
) |
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| Actual Income Tax Provision (Benefit) Differs from Amount Computed Using Federal Statutory Rate |
The actual
income tax provision (benefit) differs from the amount computed
using the federal statutory rate as follows:
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Years Ended
December 31, |
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| |
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2012 |
|
|
2011 |
|
|
2010 |
|
|
Provision (benefit) at
statutory rate
|
|
$ |
(4,390 |
) |
|
$ |
(5,111 |
) |
|
$ |
1,273 |
|
|
State income taxes (net of
federal benefit)
|
|
|
(1,247 |
) |
|
|
24 |
|
|
|
336 |
|
|
Research and development
credits
|
|
|
(858 |
) |
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|
(3,320 |
) |
|
|
(1,078 |
) |
|
Foreign rate
differential
|
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|
445 |
|
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|
1,182 |
|
|
|
262 |
|
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Stock
compensation
|
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|
278 |
|
|
|
974 |
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|
959 |
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Foreign dividend
|
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|
— |
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|
94 |
|
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|
46 |
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Estimated export compliance
fines and penalties
|
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|
(255 |
) |
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255 |
|
|
|
— |
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Foreign tax
credit
|
|
|
— |
|
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|
(236 |
) |
|
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— |
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Permanent and
other
|
|
|
154 |
|
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|
260 |
|
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(940 |
) |
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Valuation
allowance
|
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|
6,214 |
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|
12,871 |
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(7,229 |
) |
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Total provision (benefit)
for income taxes
|
|
$ |
341 |
|
|
$ |
6,993 |
|
|
$ |
(6,371 |
) |
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| Components of Deferred Income Tax Assets |
The components
of the deferred income tax assets are as follows:
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|
December 31, |
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| |
|
2012 |
|
|
2011 |
|
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Deferred tax
assets:
|
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|
|
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|
|
|
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Net operating loss
carryforwards
|
|
$ |
8,216 |
|
|
$ |
6,155 |
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Research and development
credits
|
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|
9,088 |
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|
8,077 |
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Accrued expenses and
other
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1,970 |
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|
644 |
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Stock-based
compensation
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3,184 |
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1,685 |
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22,458 |
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16,561 |
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Less valuation
allowance
|
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(22,243 |
) |
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(16,029 |
) |
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|
215 |
|
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|
532 |
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Deferred tax
liability:
|
|
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|
|
|
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Depreciation and
amortization
|
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|
(215 |
) |
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|
(532 |
) |
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Net deferred tax
assets
|
|
$ |
— |
|
|
$ |
— |
|
|
|
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|
| Summary of Changes to Unrecognized Tax Benefits |
The following
table summarizes the changes to the unrecognized tax benefits
during 2012, 2011 and 2010:
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Balance as of
December 31, 2009
|
|
$ |
872 |
|
|
Additions based on tax
positions related to the current year
|
|
|
287 |
|
|
Additions based on tax
positions of prior year
|
|
|
25 |
|
|
|
|
|
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|
Balance as of
December 31, 2010
|
|
|
1,184 |
|
|
Additions based on tax
positions related to the current year
|
|
|
1,018 |
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|
Additions based on tax
positions of prior year
|
|
|
818 |
|
|
|
|
|
|
|
Balance as of
December 31, 2011
|
|
|
3,020 |
|
|
Additions based on tax
positions related to the current year
|
|
|
725 |
|
|
Additions based on tax
positions of prior years
|
|
|
132 |
|
|
Decreases based on tax
positions of prior year
|
|
|
(127 |
) |
|
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|
|
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|
Balance as of
December 31, 2012
|
|
$ |
3,750 |
|
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|
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