Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Stockholders' Equity
8. Stockholders’ Equity

Common Stock

As of September 30, 2016 and December 31, 2015, there were 37,616,243 and 37,396,456 shares of common stock, $0.0001 par value, issued and outstanding, which includes unvested restricted stock awards issued to non-employee directors, respectively. See Note 11 – “Earnings per Share” for additional information.

 

The Company currently does not intend to pay a regular dividend. The Company will evaluate its dividend policy in the future. Any declaration and payment of future dividends to holders of the Company’s common stock will be at the discretion of the board of directors and will depend on many factors, including the Company’s financial condition, earnings, cash flows, capital requirements, level of indebtedness, statutory and contractual restrictions applicable to the payment of dividends and other considerations that the board of directors deems relevant.

Preferred Stock

The Company has 25,000,000 authorized shares of preferred stock with a par value $0.0001 per share. At September 30, 2016 and December 31, 2015, there were no preferred shares issued or outstanding.

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income as of September 30, 2016, by component, net of income taxes consisted of the following (in thousands):

 

     Unrealized
gains and
(losses) of
available-for-
sale securities		      Foreign
currency
translation (2)		      Total  

Beginning balance, December 31, 2015

    $ (568 )     $ 1,025       $ 457   

Other comprehensive income before reclassifications

      1,152         32         1,184   

Amounts reclassified from accumulated other comprehensive income (1)

      (102 )       —           (102 ) 
  

 

 

     

 

 

     

 

 

  

Net current-period other comprehensive income

      1,050         32         1,082   
  

 

 

     

 

 

     

 

 

  

Ending balance, September 30, 2016

    $ 482       $ 1,057       $ 1,539   
  

 

 

     

 

 

     

 

 

  

 

(1) Included as a component of other income (expense), net in the condensed consolidated statements of net and comprehensive income. The reclassifications were determined on a specific identification basis.
(2) The Company has not provided for U.S. taxes on unremitted earnings of its foreign subsidiary as it is operating at a loss and has no earnings and profits to remit. As a result, deferred taxes were not provided related to the cumulative foreign currency translation adjustments.