| Balance Sheet Details |
4. Balance Sheet Details
Cash and cash equivalents and investments consist of the following:
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September 30,
2013 |
|
December 31,
2012 |
Cash and cash equivalents |
$ |
26,500 |
|
|
$ |
21,810 |
|
Short-term investments |
35,975 |
|
|
50,265 |
|
Long-term investments |
20,544 |
|
|
5,181 |
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|
$ |
83,019 |
|
|
$ |
77,256 |
|
Inventory consists of the following:
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September 30,
2013 |
|
December 31,
2012 |
Work-in-process |
$ |
3,410 |
|
|
$ |
3,233 |
|
Finished goods |
6,265 |
|
|
6,658 |
|
|
$ |
9,675 |
|
|
$ |
9,891 |
|
Property and equipment consist of the following:
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Useful Life
(in Years)
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September 30,
2013 |
|
December 31,
2012 |
Furniture and fixtures |
5 |
|
$ |
346 |
|
|
$ |
355 |
|
Machinery and equipment |
3 -5 |
|
9,216 |
|
|
8,331 |
|
Masks and production equipment(1)
|
2 |
|
4,756 |
|
|
4,894 |
|
Software |
3 |
|
728 |
|
|
736 |
|
Leasehold improvements |
4 -5 |
|
854 |
|
|
829 |
|
Construction in progress |
N/A |
|
111 |
|
|
20 |
|
|
|
|
16,011 |
|
|
15,165 |
|
Less accumulated depreciation and amortization |
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|
(10,121 |
) |
|
(8,299 |
) |
|
|
|
$ |
5,890 |
|
|
$ |
6,866 |
|
(1)In the nine months ended September 30, 2013, the Company recorded an impairment charge of $1.1 million, reflected in cost of net revenue, related to the remaining net book value of production masks that were previously capitalized, but for which future use is no longer expected.
Intangible assets consist of the following:
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Weighted
Average
Amortization
Period
(in Years)
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September 30,
2013 |
|
December 31,
2012 |
Licensed technology |
3 |
|
$ |
2,821 |
|
|
$ |
1,865 |
|
Less accumulated amortization |
|
|
(1,992 |
) |
|
(1,590 |
) |
|
|
|
$ |
829 |
|
|
$ |
275 |
|
The following table presents future amortization of the Company’s intangible assets at September 30, 2013:
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Amortization |
2013 |
$ |
79 |
|
2014 |
319 |
|
2015 |
319 |
|
2016 |
112 |
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Total |
$ |
829 |
|
Deferred revenue and deferred profit consist of the following:
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September 30,
2013 |
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December 31,
2012 |
Deferred revenue—rebates |
$ |
72 |
|
|
$ |
23 |
|
Deferred revenue—distributor transactions |
4,678 |
|
|
3,735 |
|
Deferred cost of net revenue—distributor transactions |
(1,703 |
) |
|
(1,469 |
) |
|
$ |
3,047 |
|
|
$ |
2,289 |
|
Accrued price protection liability consists of the following activity:
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Nine Months Ended
September 30, |
|
2013 |
|
2012 |
Beginning balance |
$ |
7,880 |
|
|
$ |
2,856 |
|
Charged as a reduction of revenue |
15,920 |
|
|
9,406 |
|
Reversal of unclaimed rebates |
(27 |
) |
|
— |
|
Payments |
(11,276 |
) |
|
(4,311 |
) |
Ending Balance |
$ |
12,497 |
|
|
$ |
7,951 |
|
Accrued expenses and other current liabilities consist of the following:
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September 30,
2013 |
|
December 31,
2012 |
Accrued technology license payments |
$ |
3,000 |
|
|
$ |
2,996 |
|
Accrued professional fees |
285 |
|
|
386 |
|
Accrued litigation costs(1)
|
1,812 |
|
|
586 |
|
Other |
992 |
|
|
1,055 |
|
|
$ |
6,089 |
|
|
$ |
5,023 |
|
(1)Includes a one-time payment of $1.25 million to Silicon Labs in connection with the settlement agreement which is reflected in selling, general and administrative expenses in the three and nine months ended September 30, 2013.
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