Income Tax Disclosure [Abstract] | Period [Axis] |
---|
2015-06-01 - 2016-05-31 |
---|
Income Tax Disclosure [Abstract] | |
Domestic and foreign components of loss before income tax (expenses) benefit | Domestic and foreign
components of (loss) income before income tax (expense) benefit are as follows (in thousands):
| |
Year
Ended May 31, |
| |
2016 | |
2015 | |
2014 |
| Domestic | | |
$ | (6,794 | ) | |
$ | (6,871 | ) | |
$ | 438 | |
| Foreign | | |
| 19 | | |
| 258 | | |
| (31 | ) |
| | | |
$ | (6,775 | ) | |
$ | (6,613 | ) | |
$ | 407 | | |
Income tax (expense) benefit | The income tax (expense)
benefit consists of the following (in thousands):
| |
Year Ended May 31, |
| |
2016 | |
2015 | |
2014 |
Federal income taxes: | |
| | | |
| | | |
| | |
Current | |
$ | | | |
$ | | | |
$ | | |
Deferred | |
| | | |
| | | |
| | |
State income taxes: | |
| | | |
| | | |
| | |
Current | |
| 3 | | |
| (19 | ) | |
| (30 | ) |
Deferred | |
| | | |
| | | |
| | |
Foreign income taxes: | |
| | | |
| | | |
| | |
Current | |
| (13 | ) | |
| (15 | ) | |
| 45 | |
Deferred | |
| | | |
| | | |
| | |
| |
$ | (10 | ) | |
$ | (34 | ) | |
$ | 15 | |
|
Income tax reconciliation | The Companys
effective tax rate differs from the U.S. federal statutory tax rate, as follows:
| |
Year Ended May 31,
|
| |
2016 | |
2015 | |
2014 |
U.S. federal statutory tax rate | |
| 34.0 | % | |
| 34.0 | % | |
| 34.0 | % |
State taxes, net of federal tax effect | |
| | | |
| (0.2 | ) | |
| 4.7 | |
Foreign rate differential | |
| 0.2 | | |
| 1.4 | | |
| (11.9 | ) |
Stock-based compensation | |
| (3.8 | ) | |
| (2.2 | ) | |
| 34.5 | |
Research and development credit | |
| 2.1 | | |
| 1.1 | | |
| (20.5 | ) |
Change in valuation allowance | |
| (32.5 | ) | |
| (34.4 | ) | |
| (45.8 | ) |
Other | |
| (0.2 | ) | |
| (0.2 | ) | |
| 1.3 | |
Effective tax rate | |
| (0.2 | )% | |
| (0.5 | )% | |
| (3.7 | )% |
|
Net deferred tax assets | The components of the
net deferred tax assets are as follows (in thousands):
| |
Year Ended May 31, |
| |
2016 | |
2015 |
| |
| |
|
Net operating losses | |
$ | 16,643 | | |
$ | 15,063 | |
Credit carryforwards | |
| 4,430 | | |
| 3,946 | |
Inventory reserves | |
| 1,064 | | |
| 1,429 | |
Reserves and accruals | |
| 1,606 | | |
| 2,809 | |
Other | |
| 885 | | |
| 960 | |
| |
| | | |
| | |
| |
| 24,628 | | |
| 24,207 | |
| |
| | | |
| | |
Less: Valuation allowance | |
| (24,628 | ) | |
| (24,207 | ) |
Net deferred tax assets | |
$ | | | |
$ | | |
|
Unrecognized tax benefits | The Company maintains
liabilities for uncertain tax positions. These liabilities involve considerable judgment and estimation and are continuously monitored
by management based on the best information available. The aggregate changes in the balance of gross unrecognized tax benefits
are as follows (in thousands):
Beginning balance as of May 31, 2013 | |
$ | 1,007 | |
Decreases related to prior year tax positions | |
| | |
Decreases related to lapse of statute of limitations | |
| (34 | ) |
| |
| | |
Balance at May 31, 2014 | |
$ | 973 | |
| |
| | |
Decreases related to prior year tax positions | |
| | |
Decreases related to lapse of statute of limitations | |
| (54 | ) |
| |
| | |
Balance at May 31, 2015 | |
$ | 919 | |
| |
| | |
Decreases related to prior year tax positions | |
| (124 | ) |
Decreases related to lapse of statute of limitations | |
| (6 | ) |
| |
| | |
Balance at May 31, 2016 | |
$ | 789 | |
|