2014 Q4 Form 10-Q Financial Statement

#000114420414065826 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q3
Revenue $18.19M $18.16M
YoY Change 6.33% 14.48%
Cost Of Revenue $6.319M $5.047M
YoY Change 7.61%
Gross Profit $11.87M $12.62M
YoY Change -1.58% 12.92%
Gross Profit Margin 65.26% 69.48%
Selling, General & Admin $10.29M $9.667M
YoY Change -0.24%
% of Gross Profit 86.65% 76.6%
Research & Development $3.137M $1.684M
YoY Change 6.58%
% of Gross Profit 26.43% 13.34%
Depreciation & Amortization $650.0K $590.0K
YoY Change 9.26%
% of Gross Profit 5.48% 4.68%
Operating Expenses $13.42M $11.35M
YoY Change 0.72%
Operating Profit -$1.553M $173.0K
YoY Change -290.11%
Interest Expense $35.00K $38.00K
YoY Change -41.54%
% of Operating Profit 21.97%
Other Income/Expense, Net -$605.0K $327.0K
YoY Change 48.64%
Pretax Income -$2.158M $500.0K
YoY Change 287.6%
Income Tax $548.0K -$25.00K
% Of Pretax Income -5.0%
Net Earnings -$2.706M $278.0K
YoY Change -615.43% -408.89%
Net Earnings / Revenue -14.88% 1.53%
Basic Earnings Per Share -$0.07 $0.01
Diluted Earnings Per Share -$0.07 $0.01
COMMON SHARES
Basic Shares Outstanding 38.37M shares 36.75M shares
Diluted Shares Outstanding 38.37M shares 39.28M shares

Balance Sheet

Concept 2014 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.40M $23.40M
YoY Change 18.18%
Cash & Equivalents $18.36M $23.35M
Short-Term Investments
Other Short-Term Assets $375.0K $418.0K
YoY Change -76.78%
Inventory $15.73M $11.90M
Prepaid Expenses $1.740M
Receivables $11.67M $9.500M
Other Receivables $800.0K $400.0K
Total Short-Term Assets $49.41M $47.88M
YoY Change 15.38%
LONG-TERM ASSETS
Property, Plant & Equipment $9.339M $6.512M
YoY Change 38.55%
Goodwill $1.786M $1.786M
YoY Change
Intangibles $1.033M $1.567M
YoY Change
Long-Term Investments
YoY Change
Other Assets $640.0K $1.056M
YoY Change -24.57%
Total Long-Term Assets $13.38M $11.65M
YoY Change 13.14%
TOTAL ASSETS
Total Short-Term Assets $49.41M $47.88M
Total Long-Term Assets $13.38M $11.65M
Total Assets $62.79M $59.54M
YoY Change 14.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.259M $4.536M
YoY Change 19.37%
Accrued Expenses $3.000M $4.600M
YoY Change 39.39%
Deferred Revenue
YoY Change
Short-Term Debt $4.600M $5.100M
YoY Change 96.15%
Long-Term Debt Due $400.0K $400.0K
YoY Change -55.56%
Total Short-Term Liabilities $17.01M $16.47M
YoY Change 15.99%
LONG-TERM LIABILITIES
Long-Term Debt $500.0K $200.0K
YoY Change -60.0%
Other Long-Term Liabilities $2.800M $3.300M
YoY Change -10.81%
Total Long-Term Liabilities $3.300M $3.500M
YoY Change -16.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.01M $16.47M
Total Long-Term Liabilities $3.300M $3.500M
Total Liabilities $22.15M $21.72M
YoY Change 13.1%
SHAREHOLDERS EQUITY
Retained Earnings -$137.9M -$131.2M
YoY Change
Common Stock $178.4M $168.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.64M $37.82M
YoY Change
Total Liabilities & Shareholders Equity $62.79M $59.54M
YoY Change 14.94%

Cashflow Statement

Concept 2014 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$2.706M $278.0K
YoY Change -615.43% -408.89%
Depreciation, Depletion And Amortization $650.0K $590.0K
YoY Change 9.26%
Cash From Operating Activities -$370.0K $3.070M
YoY Change 23.79%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$960.0K
YoY Change 190.91%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$250.0K -$960.0K
YoY Change 190.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.00K 1.580M
YoY Change -5366.67%
NET CHANGE
Cash From Operating Activities -370.0K 3.070M
Cash From Investing Activities -250.0K -960.0K
Cash From Financing Activities 40.00K 1.580M
Net Change In Cash -580.0K 3.690M
YoY Change 74.06%
FREE CASH FLOW
Cash From Operating Activities -$370.0K $3.070M
Capital Expenditures -$250.0K -$960.0K
Free Cash Flow -$120.0K $4.030M
YoY Change 43.42%

Facts In Submission

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us-gaap Other General Expense
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us-gaap Operating Income Loss
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us-gaap Investment Income Interest
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us-gaap Interest Expense
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102000 USD
CY2013Q3 us-gaap Interest Expense
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InterestExpense
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us-gaap Interest Expense
InterestExpense
134000 USD
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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500000 USD
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2162000 USD
us-gaap Income Tax Expense Benefit
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Entity Wide Disclosure On Geographic Areas Description Of Revenue From External Customers
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The Company markets and sells its products in over 60 countries and has manufacturing sites in the United States and Switzerland. Other than the United States, Japan, Korea, China,Spain, and France,the Company does not conduct business in any country in which its sales exceed 5% of consolidated sales.
CY2014Q4 staa Segment Sales To Consolidated Sales Percentage
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1 pure
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CY2014Q4 us-gaap Allocated Share Based Compensation Expense
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AllocatedShareBasedCompensationExpense
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us-gaap Restricted Stock Expense
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RestrictedStockExpense
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RestrictedStockExpense
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us-gaap Restricted Stock Expense
RestrictedStockExpense
718000 USD
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staa Restricted Stock Unit
RestrictedStockUnit
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47000 USD
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41000 USD
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138000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4736000 USD
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906000 USD
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1553000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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2924000 USD
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0 pure
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0 pure
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0 pure
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0 pure
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0.5547 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0129 pure
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0.0132 pure
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0.0136 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0069 pure
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M13D
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M13D
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M13D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M13D
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0.07 pure
CY2014Q1 staa Warrants And Rights Exercisable
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700000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
700000 shares
us-gaap Defined Benefit Plan Fair Value Of Plan Assets Period Increase Decrease
DefinedBenefitPlanFairValueOfPlanAssetsPeriodIncreaseDecrease
-32000 USD
CY2013Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets Period Increase Decrease
DefinedBenefitPlanFairValueOfPlanAssetsPeriodIncreaseDecrease
65000 USD
CY2014Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets Period Increase Decrease
DefinedBenefitPlanFairValueOfPlanAssetsPeriodIncreaseDecrease
-9000 USD
us-gaap Defined Benefit Plan Fair Value Of Plan Assets Period Increase Decrease
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35000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
69000 USD
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-6000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
50000 USD
staa Impact Of Change In Discount Rate
ImpactOfChangeInDiscountRate
-558000 USD
CY2013Q3 staa Impact Of Change In Discount Rate
ImpactOfChangeInDiscountRate
0 USD
CY2014Q4 staa Impact Of Change In Discount Rate
ImpactOfChangeInDiscountRate
0 USD
staa Impact Of Change In Discount Rate
ImpactOfChangeInDiscountRate
0 USD
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687000 USD
CY2013Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
0 USD
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DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
150000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-402000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-92000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-704000 USD
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-231000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
6000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-163000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-97000 USD
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OtherComprehensiveIncomeLossNetOfTax
-326000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1007000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6017000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
428000 USD
CY2014Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3032000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
267000 USD
CY2014Q1 us-gaap Restructuring Reserve
RestructuringReserve
759000 USD
us-gaap Restructuring Charges
RestructuringCharges
334000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
848000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
245000 USD
CY2014Q4 staa Estimated Cost Of Project Year Three And Half
EstimatedCostOfProjectYearThreeAndHalf
6300000 USD
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
122000000 USD
us-gaap Depreciation
Depreciation
1520000 USD
us-gaap Depreciation
Depreciation
1325000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
317000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
334000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
161000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-220000 USD
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0 USD
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-27000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-172000 USD
us-gaap Increase Decrease In Pension Plan Obligations
IncreaseDecreaseInPensionPlanObligations
118000 USD
us-gaap Increase Decrease In Pension Plan Obligations
IncreaseDecreaseInPensionPlanObligations
124000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4736000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2924000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
9000 USD
us-gaap Increase Decrease In Accounts Receivable
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1064000 USD
us-gaap Increase Decrease In Accounts Receivable
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1423000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3191000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
707000 USD
staa Increase Decrease In Prepaid Expenses Deposits And Other Assets Current
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssetsCurrent
-207000 USD
staa Increase Decrease In Prepaid Expenses Deposits And Other Assets Current
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssetsCurrent
614000 USD
us-gaap Increase Decrease In Accounts Payable
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-17000 USD
us-gaap Increase Decrease In Accounts Payable
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-389000 USD
us-gaap Increase Decrease In Other Current Liabilities
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-1364000 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
489000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4428000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3428000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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68000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-139000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-816000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1676000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21675000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23351000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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2048000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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2517000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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2984000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2984000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
372000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
675000 USD
us-gaap Proceeds From Stock Options Exercised
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2793000 USD
us-gaap Proceeds From Stock Options Exercised
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2723000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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2421000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
CY2013Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
CY2014Q4 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-18000 USD
CY2013Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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69000 USD
us-gaap Other Operating Activities Cash Flow Statement
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0 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
157000 USD
CY2014Q1 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
153000 USD
CY2014Q4 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
252000 USD

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