Annual report pursuant to section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Changes in Warranty Liability

Changes in the Company’s warranty liability for the years ended December 31, 2013, 2012 and 2011 are as follows:

 

(in thousands)

    Year Ended December 31,  
   2013     2012     2011  

Warranty liability at January 1,

    $ 346      $ 43      $ 47   

Warranty liability assumed in acquisitions

      101       303        —     

Provisions for current year sales

      348        6        16   

Current year claims

      (198 )      (6 )      (20 ) 
  

 

 

    

 

 

    

 

 

  

Warranty liability at December 31,

    $ 597      $ 346      $ 43   
  

 

 

    

 

 

    

 

 

  
Summary of Changes in Allowance for Doubtful Accounts

The following summarizes the changes in the allowance for doubtful accounts for the periods indicated.

 

(in thousands)

       
   2013     2012     2011  

Allowance for doubtful accounts at January 1,

    $ 57      $ 53      $ 36   

Additions

      170        17        19   

Write-offs

      (17 )      (13 )      (2 ) 
  

 

 

    

 

 

    

 

 

  

Allowance for doubtful accounts at December 31,

    $ 210      $ 57      $ 53   
  

 

 

    

 

 

    

 

 

  
Estimated Useful Lives of Property and Equipment

The estimated useful lives of property and equipment are as follows:

 

     Estimated useful lives

Machinery and equipment

    3-7 years

Furniture and fixtures

    5-7 years

Computers and software

    3-7 years

Motor vehicles

    5 years

Leasehold improvements

    Lesser of lease term or estimated useful life
Valuation Assumptions used in Computation of Stock Option Expense

For the years ended December 31, 2012 and 2011, the Company computed expense for each group utilizing the following assumptions:

 

     Years Ended December 31,  
     2012      2011  

Expected volatility

      75.8% - 118.6%         0% - 84.7%   

Weighted-average volatility

      78.1%         81.0%   

Risk-free interest rate

      0.3% - 0.9%         0.4% - 2.2%   

Expected dividend yield

      0%         0%   

Expected life in years

      3.5 - 8.6         3.5 - 8.6