| Income Taxes | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Taxes | |
Schedule of income (loss) before income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
|
|
(in thousands)
|
|
|
Income (loss) before income taxes:
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
$
|
20,888
|
|
$
|
(4,344)
|
|
$
|
(12,946)
|
|
|
Foreign
|
|
|
(5,942)
|
|
|
(6,020)
|
|
|
(5,202)
|
|
|
Total income (loss) before taxes
|
|
$
|
14,946
|
|
$
|
(10,364)
|
|
$
|
(18,148)
|
|
|
Summary of provision (benefit) for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
|
|
(in thousands)
|
|
|
Current provision (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
7,279
|
|
$
|
82
|
|
$
|
(131)
|
|
|
State
|
|
|
344
|
|
|
73
|
|
|
193
|
|
|
Foreign
|
|
|
787
|
|
|
(112)
|
|
|
1,388
|
|
|
Total current provision
|
|
|
8,410
|
|
|
43
|
|
|
1,450
|
|
|
Deferred provision (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
(2,491)
|
|
|
(5,222)
|
|
|
(4,309)
|
|
|
State
|
|
|
(1,066)
|
|
|
(1,250)
|
|
|
(1,699)
|
|
|
Foreign
|
|
|
(439)
|
|
|
(1,148)
|
|
|
(2,891)
|
|
|
Total deferred benefit
|
|
|
(3,996)
|
|
|
(7,620)
|
|
|
(8,899)
|
|
|
Total provision (benefit) for income taxes
|
|
$
|
4,414
|
|
$
|
(7,577)
|
|
$
|
(7,449)
|
|
|
Schedule of reconciliation of the statutory federal income tax rate |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Statutory federal income tax (benefit)
|
|
35.0
|
%
|
(35.0)
|
%
|
(35.0)
|
%
|
|
State tax expense, net of federal tax benefit
|
|
(3.1)
|
|
(7.4)
|
|
(5.4)
|
|
|
Foreign tax rate differences
|
|
1.8
|
|
(1.1)
|
|
1.8
|
|
|
Foreign valuation allowance
|
|
14.4
|
|
(23.3)
|
|
—
|
|
|
Qualified production activities deduction
|
|
(8.7)
|
|
—
|
|
—
|
|
|
Research and development credits
|
|
(11.7)
|
|
(15.4)
|
|
(6.4)
|
|
|
Share-based compensation
|
|
3.0
|
|
7.7
|
|
4.0
|
|
|
Other
|
|
(1.2)
|
|
1.4
|
|
—
|
|
|
Effective tax rate (benefit)
|
|
29.5
|
%
|
(73.1)
|
%
|
(41.0)
|
%
|
|
Summary of deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
(in thousands)
|
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
|
Net operating loss carryforward
|
|
$
|
4,698
|
|
$
|
8,616
|
|
|
State income taxes
|
|
|
393
|
|
|
300
|
|
|
Inventory capitalization and reserve
|
|
|
7,368
|
|
|
5,365
|
|
|
Deferred revenue
|
|
|
—
|
|
|
584
|
|
|
Accrued payroll and benefits
|
|
|
1,813
|
|
|
1,793
|
|
|
Share-based compensation
|
|
|
10,545
|
|
|
10,125
|
|
|
Research and development credits
|
|
|
9,668
|
|
|
13,071
|
|
|
Alternative minimum tax
|
|
|
895
|
|
|
529
|
|
|
Accrued professional fees
|
|
|
1,333
|
|
|
987
|
|
|
Product return allowance
|
|
|
1,758
|
|
|
1,545
|
|
|
Accrued chargebacks
|
|
|
15,158
|
|
|
5,910
|
|
|
Bad debt reserve
|
|
|
95
|
|
|
253
|
|
|
Intangibles
|
|
|
3,370
|
|
|
3,370
|
|
|
Accrued for workers’ compensation insurance
|
|
|
1,409
|
|
|
1,035
|
|
|
Total deferred tax assets
|
|
|
58,503
|
|
|
53,483
|
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
Depreciation/amortization
|
|
|
13,763
|
|
|
15,065
|
|
|
Intangibles
|
|
|
8,208
|
|
|
5,430
|
|
|
Federal impact of state deferred taxes
|
|
|
3,784
|
|
|
3,380
|
|
|
Other
|
|
|
158
|
|
|
1,241
|
|
|
Total deferred tax liabilities
|
|
|
25,913
|
|
|
25,116
|
|
|
Valuation allowance
|
|
|
(3,044)
|
|
|
(923)
|
|
|
Net deferred tax assets
|
|
$
|
29,546
|
|
$
|
27,444
|
|
|
Schedule of unrecognized tax benefits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
|
(in thousands)
|
|
Balance at the beginning of the year
|
|
$
|
5,595
|
|
$
|
4,783
|
|
$
|
4,186
|
|
Additions based on tax positions related to prior years
|
|
|
188
|
|
|
—
|
|
|
—
|
|
Additions based on tax positions related to the current year
|
|
|
903
|
|
|
812
|
|
|
655
|
|
Deductions based on statute of limitations
|
|
|
—
|
|
|
—
|
|
|
(58)
|
|
Balance at the end of the year
|
|
$
|
6,686
|
|
$
|
5,595
|
|
$
|
4,783
|
|