Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Taxes [Abstract]  
Components of income tax expense benefit
                         
    For the years ended December 31,  

(In thousands)

  2012     2011     2010  

Current

                       

Federal

  $ —       $ —       $ —    

State

    —         —         —    

Foreign

    (332     (391     (330
   

 

 

   

 

 

   

 

 

 
      (332     (391     (330

Deferred

                       

Federal

    8,191       18,043       —    

State

    1,038       1,220       —    

Foreign

    729       486       348  
   

 

 

   

 

 

   

 

 

 
      9,958       19,749       348  
   

 

 

   

 

 

   

 

 

 

Total, net

  $ 9,626     $ 19,358     $ 18  
   

 

 

   

 

 

   

 

 

 
Components of deferred income tax assets and liabilities from continuing operations
                 

(In thousands)

  December 31,
2012
    December 31,
2011
 

Deferred income tax assets:

               

Federal net operating loss

  $ 50,174     $ 40,208  

State net operating loss

    6,774       7,254  

Foreign net operating loss

    3,427       2,142  

Capitalized research and development expense

    2,162       2,884  

Research and development tax credit

    4,204       3,688  

Stock options

    6,326       5,283  

Accruals

    1,556       836  

Other

    4,094       2,991  
   

 

 

   

 

 

 

Deferred income tax assets

    78,717       65,286  

Deferred income tax liabilities:

               

Intangible assets

    (25,738     (18,788

Other

    (3,277     (106
   

 

 

   

 

 

 

Deferred income tax liabilities

    (29,015     (18,894
   

 

 

   

 

 

 

Net deferred income tax assets

    49,702       46,392  
   

 

 

   

 

 

 

Valuation allowance

    (59,145     (53,255
   

 

 

   

 

 

 

Net deferred income tax liabilities

  $ (9,443   $ (6,863
   

 

 

   

 

 

 
Summary of gross unrecognized income tax benefits
                         
    For the years ended December 31,  

(In thousands)

  2012     2011     2010  

Unrecognized tax benefits at beginning of period

  $ 5,250     $ 5,413     $ 6,818  

Gross increases – tax positions in prior period

    4,467       257       —    

Gross decreases – tax positions in prior period

    (472     (420     (1,405
   

 

 

   

 

 

   

 

 

 

Unrecognized tax benefits at end of period

  $ 9,245     $ 5,250     $ 5,413  
   

 

 

   

 

 

   

 

 

 
Summary of difference between the federal statutory tax rate and the effective tax rate
                         
    For the years ended December 31,  
    2012     2011     2010  

Federal statutory rate

    35.0     35.0     35.0

State income taxes, net of federal benefit

    3.1       3.6       3.5  

Foreign income tax

    (0.9     (1.9     (1.2

Research and development tax credits

    (0.3     0.2       8.3  

Original issue discount

    —         0.1       5.2  

Other items including valuation allowance adjustments and permanent items

    (12.1     37.9       (50.7
   

 

 

   

 

 

   

 

 

 

Total

    24.8     74.9     0.1
   

 

 

   

 

 

   

 

 

 
Summary of losses from continuing operations before income taxes between U.S. and foreign jurisdictions
                         
     For the years ended December 31,  

(In thousands)

  2012     2011     2010  

Pre-tax loss:

                       

U.S.

  $ (34,058   $ (24,089   $ (11,213

Foreign

    (4,725     (1,733     (767
   

 

 

   

 

 

   

 

 

 

Total

  $ (38,783   $ (25,822   $ (11,980
   

 

 

   

 

 

   

 

 

 
Reconciliation of long lived assets between U.S. and foreign jurisdictions
                 
     For the years ended
December 31,
 

(In thousands)

  2012     2011  

Long-lived assets:

               

U.S.

  $ 4,324     $ 2,240  

Foreign

    12,202       3,118  
   

 

 

   

 

 

 

Total

  $ 16,526     $ 5,358