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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	May 31, 2013	Jul. 31, 2013	Nov. 30, 2012
Document And Entity Information [Abstract]
Entity Registrant Name	ANGIODYNAMICS INC
Entity Central Index Key	0001275187
Document Type	10-K
Document Period End Date	May 31, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--05-31
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 368,627,225
Entity Common Stock, Shares Outstanding		35,062,039

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Consolidated Statements of Operations [Abstract]
Net sales	$ 342,026	$ 221,787	$ 215,750
Cost of sales	173,037	95,829	90,047
Gross profit	168,989	125,958	125,703
Operating expenses
Research and development	26,319	20,511	21,373
Sales and marketing	76,121	64,505	58,123
General and administrative	26,127	18,334	17,828
Amortization of intangibles	16,345	9,406	9,234
Change in fair value of contingent consideration	1,583
Acquisition, restructuring and other items, net	13,800	16,164	7,182
Medical device excise tax	1,600
Total operating expenses	161,895	128,920	113,740
Operating income (loss)	7,094	(2,962)	11,963
Other (expenses) income
Interest income	103	1,090	737
Interest expense	(5,271)	(508)	(499)
Other expense	(2,569)	(2,902)	(1,503)
Total other (expenses) income, net	(7,737)	(2,320)	(1,265)
(Loss) income before income tax provision	(643)	(5,282)	10,698
Income tax (benefit) provision	(31)	(188)	2,581
Net (loss) income	$ (612)	$ (5,094)	$ 8,117
Earnings per share
Basic	$ (0.02)	$ (0.20)	$ 0.33
Diluted	$ (0.02)	$ (0.20)	$ 0.32
Basic weighted average shares outstanding	34,817,279	25,382,293	24,870,005
Diluted weighted average shares outstanding	34,817,279	25,382,293	25,132,763

Consolidated Statements Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Consolidated Statements Comprehensive Income (Loss) [Abstract]
Net (loss) income	$ (612)	$ (5,094)	$ 8,117
Other comprehensive (loss) income, before tax:
Unrealized gain (loss) on marketable securities	184	(103)	(41)
Unrealized (loss) gain on interest rate swap	(522)	327	5
Foreign currency translation (loss) gain	(47)	(142)	144
Other comprehensive (loss) income, before tax	(385)	82	108
Income tax benefit (expense) related to items of other comprehensive income	125	(83)	13
Other comprehensive (loss) income, net of tax	(260)	(1)	121
Total comprehensive (loss) income, net of tax	$ (872)	$ (5,095)	$ 8,238

Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 21,802	$ 23,508
Escrow receivable		2,500
Marketable securities, at fair value	2,153	14,070
Total cash, cash equivalents, escrow receivable and marketable securities	23,955	40,078
Accounts receivable, net of allowances of $1272 and $933, respectively	47,791	48,588
Inventories	55,062	55,823
Deferred income taxes	6,591	4,923
Prepaid expenses and other	8,117	9,826
Total current assets	141,516	159,238
PROPERTY, PLANT AND EQUIPMENT-AT COST, net	62,650	55,915
OTHER ASSETS	5,559	10,707
INTANGIBLE ASSETS, net	214,848	147,266
GOODWILL	355,458	308,912
DEFERRED INCOME TAXES, long term	11,007	39,198
PREPAID ROYALTIES	546	533
TOTAL ASSETS	791,584	721,769
CURRENT LIABILITIES
Accounts payable	24,522	29,200
Accrued liabilities	16,426	18,722
Current portion of long-term debt	7,500	7,500
Current portion of contingent consideration	9,207
Other current liabilities	5,782
Total current liabilities	63,437	55,422
LONG-TERM DEBT, net of current portion	135,000	142,500
Contingent consideration, net of current portion	65,842
Other long term liabilities	475	327
Total liabilities	264,754	198,249
COMMITMENTS AND CONTINGENCIES (NOTE N)
STOCKHOLDERS' EQUITY
Preferred stock, par value $.01 per share, 5,000,000 shares authorized; no shares issued and outstanding
Common stock, par value $.01 per share, 45,000,000 shares authorized; issued and outstanding 35,060,351 and 34,826,531 shares, respectively	351	348
Additional paid-in capital	500,554	496,375
Retained earnings	29,563	30,175
Treasury stock, 142,305 shares, at cost	(2,104)	(2,104)
Accumulated other comprehensive loss	(1,534)	(1,274)
Total stockholders' equity	526,830	523,520
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 791,584	$ 721,769

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Consolidated Balance Sheets [Abstract]
Accounts receivable, allowances	$ 1,272	$ 933
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	35,060,351	34,826,531
Common stock, shares outstanding	35,060,351	34,826,531
Treasury stock, shares	142,305	142,305

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid in capital	Retained earnings	Accumulated other comprehensive loss	Treasury Stock
Beginning Balance at May. 31, 2010	$ 391,349	$ 247	$ 365,344	$ 27,152	$ (1,394)
Beginning Balance, Shares at May. 31, 2010		24,747,145
Net Income (Loss)	8,117			8,117
Exercise of stock options	$ 977	$ 1	976
Exercise of stock options, Shares	106,858	106,858
Tax effect of exercise of stock options	$ (639)		(639)
Issuance of performance shares, net	1	$ 1
Issuance of performance shares, net, Shares		46,727
Purchase of common stock under Employee Stock Purchase Plan	1,104	$ 1	1,103
Purchase of common stock under Employee Stock Purchase Plan, Shares		84,927
Stock-based compensation	4,609		4,609
Other comprehensive loss, net of tax	121				121
Comprehensive income (loss)
Ending Balance at May. 31, 2011	405,639	$ 250	371,393	35,269	(1,273)
Ending Balance, Shares at May. 31, 2011		24,985,657
Net Income (Loss)	(5,094)			(5,094)
Exercise of stock options	$ 2,157	$ 2	2,155
Exercise of stock options, Shares	193,684	193,684
Tax effect of exercise of stock options	$ (295)		(295)
Issuance of performance shares, net, Shares		64,221
Purchase of common stock under Employee Stock Purchase Plan	1,202	$ 1	1,201
Purchase of common stock under Employee Stock Purchase Plan, Shares		103,362
Shares issued pursuant to acquisition	117,926	$ 95	117,831
Shares issued pursuant to acquisition, shares		9,479,607
Purchase of common stock for treasury	$ (2,104)					$ (2,104)
Purchase of common stock for treasury, shares	(142,305)					(142,305)
Stock-based compensation	$ 4,090		4,090
Other comprehensive loss, net of tax	(1)				(1)
Comprehensive income (loss)
Ending Balance at May. 31, 2012	523,520	$ 348	496,375	30,175	(1,274)	$ (2,104)
Ending Balance, Shares at May. 31, 2012		34,826,531				(142,305)
Net Income (Loss)	(612)			(612)
Exercise of stock options	$ 5		5
Exercise of stock options, Shares	16,835	16,835
Tax effect of exercise of stock options	$ (1,644)		(1,644)
Issuance of performance shares, net	1	$ 1
Issuance of performance shares, net, Shares		93,429
Purchase of common stock under Employee Stock Purchase Plan	1,211	$ 2	1,209
Purchase of common stock under Employee Stock Purchase Plan, Shares		123,556
Stock-based compensation	4,609		4,609
Other comprehensive loss, net of tax	(260)				(260)
Comprehensive income (loss)
Ending Balance at May. 31, 2013	$ 526,830	$ 351	$ 500,554	$ 29,563	$ (1,534)	$ (2,104)
Ending Balance, Shares at May. 31, 2013		35,060,351				(142,305)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Cash flows from operating activities:
Net (loss) income	$ (612)	$ (5,094)	$ 8,117
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	25,224	13,056	12,579
Amortization of bond discount		707	52
Amortization of acquired inventory basis step-up	3,845	431
Tax effect of exercise of stock options and issuance of performance shares	(1,644)	(309)	(741)
Deferred income tax provisions	1,011	(652)	(840)
Stock based compensation	4,609	4,090	4,609
Changes in accounts receivable allowances	338	118	(73)
Unrealized loss from foreign exchange	(83)	(172)	(104)
Gain on sales of assets	(711)
Change in fair value of contingent consideration	1,583
Loss on discontinuance of product offering	1,416
Loss on impairment of intangible assets			6,410
Other	240	1,321	55
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	1,141	(2,496)	2,770
Inventories	(1,909)	(1,522)	1,418
Prepaid expenses and other	2,474	(4,654)	2,050
Accounts payable and accrued liabilities	(10,039)	6,673	(2,432)
Net cash provided by operating activities	26,883	11,497	33,870
Cash flows from investing activities:
Additions to property, plant and equipment	(12,120)	(2,492)	(2,957)
Acquisition of businesses, net of cash acquired	(24,474)	(237,317)	(973)
Acquisition of intangible assets, net of cash acquired	(800)	(550)	(113)
Other cash flows from investing activities	801	(4,000)	(182)
Change in escrow receivable	2,500	(2,500)
Purchases of marketable securities	(5,134)	(123,614)	(168,476)
Proceeds from sale or maturity of marketable securities	16,989	194,113	124,081
Net cash used in investing activities	(22,238)	(176,360)	(48,620)
Cash flows from financing activities:
Repayment of long-term debt	(7,500)	(6,550)	(260)
Proceeds from issuance of long-term debt		150,000
Proceeds from exercise of stock options and ESPP	1,214	3,356	2,080
Deferred financing costs on long-term debt		(2,378)
Repurchase of common stock for treasury		(2,104)
Tax effect of the exercise of stock options and issuance of performance shares		14	102
Net cash (used in) provided by financing activities	(6,286)	142,338	1,922
Effect of exchange rate changes on cash and cash equivalents	(65)	49	49
Decrease in cash and cash equivalents	(1,706)	(22,476)	(12,779)
Cash and cash equivalents
Beginning of year	23,508	45,984	58,763
End of year	21,802	23,508	45,984
Supplemental disclosure of non-cash operating, investing and financing activities:
Contractual obligations for acquisition of fixed assets	1,549	217	1,909
Contractual obligations for acquisition of intangibles and business	78,286	117,926
Cash paid during the period for:
Interest	4,936	438	476
Income taxes	$ 200	$ 2,832	$ 826

Basis of Presentation, Business Description and Summary of Significant Accounting Policies

12 Months Ended

May 31, 2013

Basis of Presentation, Business Description and Summary of Significant Accounting Policies [Abstract]

BASIS OF PRESENTATION, BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE A—BASIS OF PRESENTATION, BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Basis of Presentation and Description of Business

The consolidated financial statements include the accounts of AngioDynamics, Inc. and its wholly owned subsidiaries, RITA Medical Systems, LLC, AngioDynamics UK Limited, AngioDynamics Netherlands B.V., NM Holding Company, Inc. (Navilyst) since May 22, 2012 and Vortex Medical, Inc. since October 15, 2012, (collectively, the “Company”). All intercompany balances and transactions have been eliminated. We design, manufacture and sell a wide range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. Our devices are generally used in minimally invasive, image-guided procedures. Most of our products are intended to be used once and then discarded, or they may be temporarily implanted for short- or long-term use.

Effective June 1, 2012, we consider our business to be a single segment entity – the development, manufacture and sale on a global basis of medical devices for vascular access, surgery, peripheral vascular disease and oncology. Our chief operating decision maker (CEO) evaluates the various global product portfolios on a net sales basis. Executives reporting in to the CEO include those responsible for operations and supply chain management, research and development, sales, franchise marketing and certain corporate functions. The CEO evaluates profitability, investment and cash flow metrics on a consolidated worldwide basis due to shared infrastructure and resources. Prior to fiscal year 2013, our business was organized as two segments: Vascular and Oncology/Surgery, each under the direction of a general manager with direct responsibility for all sales, marketing and product development activities.

We have performed an evaluation of subsequent events through the date the financial statements were issued.

Acquisition of Microsulis Medical Ltd.

On March 22, 2012, we established a strategic relationship with Microsulis Medical Ltd. (“Microsulis”), a U.K.-based company specializing in minimally-invasive, microwave ablation technology for the coagulation of soft tissue.

The relationship included an initial $5 million investment in Microsulis through the purchase of senior preferred stock, representing a 14.3% ownership position, exclusive distribution rights to market and sell their microwave ablation systems in all markets outside the United States from May 2012 through December 2013, and an exclusive option to purchase at any time until September 22, 2013, substantially all of the global assets of Microsulis Medical, Ltd.

On February 1, 2013, we completed the acquisition of certain assets of Microsulis, which we have accounted for as a business combination, for cash payments at closing totaling $10.0 million, subject to a working capital adjustment, a $5.0 million payment due on December 31, 2013 and potential additional cash consideration payable upon performance over the next nine years. We also assumed $1.6 million of liabilities.

The total estimated purchase consideration of $33.6 million included the initial investment of $5.0 million, closing payments totaling $10.5 million, a $5.0 million payment due on December 31, 2013 and the estimated fair value of contingent consideration (Earn out) of $13.2 million. The estimated fair value of contingent consideration is based on projected net sales over the nine year period following the closing of the acquisition. The amount of the Earn out consideration that could be paid on net sales is not limited.

The estimated purchase consideration exceeded the fair value of the acquired net assets by $19.3 million and was recorded as goodwill. Goodwill is deductible for tax purposes. Core technologies are being amortized over their estimated useful lives ranging from 10 to 15 years. During the fiscal year ended May 31, 2013, we incurred acquisition related costs of $312 thousand, which were expensed to “Acquisition, restructuring and other items, net” in the statement of operations. We have not finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date becomes available.

Acquisition of Vortex Medical Inc.

On October 15, 2012, we acquired all the outstanding capital stock of Vortex Medical, Inc., a privately-held company focused on the development and commercialization of medical devices for venous drainage and the removal of thrombus, or blood clots, from occluded blood vessels. Vortex’s principal product is the AngioVac ^® system, which includes the AngioVac Cannula and Circuit. The AngioVac Cannula has a proprietary balloon-actuated, expandable, funnel-shaped distal tip that enhances flow, prevents clogging of the cannula and facilitates en bloc, or whole removal of undesirable intravascular material. Both the AngioVac Cannula and Circuit are FDA-cleared for use during extracorporeal bypass for up to 6 hours. An application for CE Mark approval has been filed.

The total estimated purchase consideration of $75.3 million included an upfront payment of $15.1 million and the estimated fair value of contingent (Earn out) consideration of $60.3 million, $40 million of which is guaranteed. The estimated fair value of contingent consideration is based on projected AngioVac net sales in the ten year period following the closing. The amount of the Earn out consideration that could be paid on AngioVac net sales is not limited.

The estimated purchase consideration exceeded the fair value of the acquired net assets by $29.5 million and was recorded as goodwill. Goodwill is not deductible for tax purposes. Core technologies are being amortized over their estimated useful lives of approximately 15 years as revenues are earned from the sales of related products. During the fiscal year ended May 31, 2013, we incurred acquisition related costs of $645 thousand, which were expensed to “Acquisition, restructuring and other items, net” in the statement of operations. We have not finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date becomes available.

Acquisition of Navilyst

On May, 22, 2012, we completed the acquisition of privately-held Navilyst, a global medical device company with strengths in the vascular access, interventional radiology and interventional cardiology markets. The acquisition and related transaction costs were financed through the issuance of approximately 9.5 million shares of our common stock, $150 million in drawn acquisition debt financing and $97 million of cash. Based on the closing price of our stock of $12.44 on the day prior to the transaction, the purchase price was approximately $361 million.

The fiscal year ended May 31, 2013 and 2012, included $7.3 million and $11.2 million, respectively, in transaction and severance costs related to the Navilyst acquisition. These costs are included in “Acquisition, restructuring and other items, net” in the statement of operations. Investment funds affiliated with Avista Capital Partners, former owners of Navilyst, received approximately 9.4 million shares of our common stock and, as of May 31, 2013, held approximately 27% of our outstanding shares. Investment funds affiliated with Avista Capital Partners entered into a stockholders agreement with us as part of the transaction and also appointed two additional directors to our existing Board of Directors.

To satisfy any working capital adjustment and potential indemnification claims that may arise, $19.1 million of purchase consideration was held in escrow at May 31, 2013, including approximately $14.0 million in cash and approximately 415 thousand shares of common stock. The indemnification claims period will terminate on July 15, 2013. At May 31, 2012, we had $2.5 million of receivable related to the working capital adjustment recorded as escrow receivable on the balance sheet. During the third fiscal quarter of 2013, we received $2.5 million of cash from the escrow fund to satisfy this receivable.

Goodwill recorded as a result of the acquisition was $144.7 million. Intangible assets acquired, other than goodwill, totaled approximately $107.1 million, of which $49.4 million has been identified as customer relationships (15-year weighted average useful life), $32.5 million of trademarks (of which $28.6 million has been determined to have an indefinite useful life and the remaining $3.9 million has a 7 year weighted average useful life), $15.1 million of in-process research and development (indefinite useful life until completed) and $10.1 million of technology (6-year weighted average useful life). Goodwill is not deductible for tax purposes.

The IPR&D assets, which were accounted for as indefinite-lived assets at the time of acquisition, represent the development of a biomedical polymer additive for use in PICC and other vascular access product lines and a power injectable port which are valued at $12.1 million and $3.0 million, respectively. The biomedical polymer additive product recently received regulatory approval and the product was released in the United States in October 2012 and is being amortized over a 10 year useful life. The power injectable port is expected to be released in the United States in fiscal 2014, subject to regulatory approvals. The fair value of these intangible assets was determined based upon the present value of expected future cash flows adjusted for the probability of technological and commercial risk, utilizing a risk-adjusted discount rate.

See Note B for further discussion of acquisitions.

Regulatory Matters

On May 27, 2011, we received a Warning Letter from FDA in connection with its inspection of our Queensbury, NY manufacturing facility. In the Warning Letter, FDA cited deficiencies in the response letter we provided FDA pertaining to the inspection that occurred from January 4 to January 13, 2011. The deficiencies related to our internal procedures for medical device reporting, corrections and removals and complaint handling. We responded to the Warning Letter and completed corrective and preventive actions to address the observations noted.

In December 2011, we initiated a comprehensive Quality Call to Action Program to review and augment our Quality Management Systems at our Queensbury facility. To accelerate implementation of the program, we engaged a team of external regulatory and quality experts and reallocated a significant number of engineering and product development resources to support this corporate initiative. From inception of the Quality Call to Action Program through fiscal 2013, we have incurred $3.2 million in direct costs associated with the program.

On February 10, 2012, we received from FDA a Form 483, List of Investigational Observations, in connection with its inspection of our Queensbury facility from November 14, 2011 to February 10, 2012. The Form 483 contained 12 observations related to, among other things, our CAPA (Corrective and Preventive Action) system, MDR (Medical Device Reporting), complaint investigation, corrections and removals, acceptance criteria and training. Some of the observations contained in the Form 483 were repeat observations from the May 27, 2011 Warning Letter.

On February 13, 2012, we received from FDA a Form 483 in connection with its inspection of our Fremont facility from January 12, 2012 to February 13, 2012. The Form 483 contained six observations related to, among other things, our CAPA system, design controls, risk management and training. We provided responses to FDA within 15 business days of our receipt of the Form 483s.

On September 24, 2012, we received from FDA a Form 483 in connection with its subsequent inspection of our Queensbury, NY facility from September 6 to September 14, and September 19 to September 24. This re-inspection followed our response to the original Form 483 issued by FDA on February 13, 2012. The Form 483 contained 5 observations related to 510(k) decisions, complaint investigations, acceptance criteria, corrective and preventive actions and training. All but one of the observations in the Form 483 related to events that occurred before the date that we had indicated to FDA in our previous responses that our corrective and remediation activities related to our Quality Call to Action would be completed. We provided responses to FDA within 15 business days of our receipt of the Form 483.

On November 28, 2012, FDA completed an inspection of our Manchester, GA facility and no Form 483 observations were issued.

In June 2013, we received approval from FDA to conduct a clinical trial to study the use of the NanoKnife in the treatment of focal prostate cancer. We are moving forward with institutional review board (IRB) submissions and anticipate commencing patient enrollment during our second quarter of fiscal 2014, which ends November 30, 2013.

We will continue to work closely with FDA to resolve any outstanding issues. Unless the items raised in the previously disclosed Warning Letters and Form 483s are corrected to FDA’s satisfaction or we come to some other arrangement with FDA finally resolving such matters, we may be subject to additional regulatory or legal action, including the issuance of warning letters, injunction, seizure or recall of products, imposition of fines or penalties or operating restrictions on our facilities. Such actions could significantly disrupt our ongoing business and operations and have a material adverse impact on our financial position and operating results.

Discontinuance of Benephit Product Offering

During the third fiscal quarter of 2013, we made the decision to discontinue our Benephit product offering. Accordingly, we recorded $1.6 million of expenses during the year ended May 31, 2013. These costs are included in “Acquisition, restructuring and other items, net” in the statement of operations.

Closure of UK facility

During the first fiscal quarter of 2012, we made the decision to close our Cambridge, UK facility and transfer the production of lasers to our Queensbury, NY facility. We completed the transfer in January 2013. The total cost of this project was approximately $4.3 million. The statement of operations for the year ended May 31, 2013 included charges of $2.5 million for costs incurred associated with this closure and included $1.8 million for fiscal 2012. The charge is included in “Acquisition, restructuring and other items, net” in the statement of operations.

2. Fiscal Year

We report on a fiscal year ending May 31.

3. Cash and Cash Equivalents

We consider all unrestricted highly liquid investments purchased with an initial maturity of less than three months to be cash equivalents. We maintain cash and cash equivalent balances with financial institutions in the United States in excess of amounts insured by the Federal Deposit Insurance Corporation.

4. Marketable Securities

Marketable securities, which are principally government agency bonds, auction rate investments and corporate commercial paper, are classified as “available-for-sale securities” in accordance with authoritative guidance issued by FASB and are reported at fair value, with unrealized gains and losses excluded from operations and reported as a component of accumulated other comprehensive income (loss), net of the related tax effects, in stockholders’ equity. Cost is determined using the specific identification method. We hold investments in auction rate securities in order to generate higher than typical money market rate investment returns. Auction rate securities typically are high credit quality, generally achieved with municipal bond insurance. Credit risks are eased by the historical track record of bond insurers, which back a majority of this market. Sell orders for any security traded through an auction process could exceed bids and, in such cases, the auction fails and we may be unable to liquidate our position in the securities in the near term. During fiscal years 2013, 2012 and 2011, we had $1.85 million in investments in two auction rate securities issued by New York state and local government authorities that failed auctions. The authorities are current in their interest payments on the securities.

5. Accounts Receivable

Accounts receivable, principally trade, are generally due within 30 to 90 days and are stated at amounts due from customers, net of an allowance for sales returns and doubtful accounts. We perform ongoing credit evaluations of our customers and adjust credit limits based upon payment history and the customer’s current creditworthiness, as determined by a review of their current credit information. We continuously monitor aging reports, collections and payments from customers, and a provision for estimated credit losses is maintained based upon our historical experience and any specific customer collection issues that have been identified. While such credit losses have historically been within our expectations and the provisions established, we cannot guarantee that the same credit loss rates will be experienced in the future. We write off accounts receivable when they are determined to be uncollectible.

6. Inventories

Inventories are stated at the lower of cost (at standard cost, which approximates the first-in, first-out method) or market. Appropriate consideration is given to deterioration, obsolescence and other factors in evaluating net realizable value.

7. Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. We evaluate these assets for impairment annually or as changes in circumstances or the occurrence of events suggest the remaining value is not recoverable. Expenditures for repairs and maintenance are charged to expense as incurred. Renewals and betterments are capitalized.

8. Goodwill and Intangible Assets

Intangible assets other than goodwill and acquired IPR&D are amortized over their estimated useful lives, which range between three and twenty years, on either a straight-line basis over the expected period of benefit or as revenues are earned from the sales of the related products. We periodically review the estimated useful lives of our intangible assets and review such assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Our determination of impairment is based on estimates of future cash flows. If an intangible asset is considered to be impaired, the amount of the impairment will equal the excess of the carrying value over the fair value of the asset.

Acquired IPR&D has an indefinite life and is not amortized until completion and development of the project, at which time the IPR&D becomes an amortizable asset. If the related project is not completed in a timely manner or the project is terminated or abandoned, we may have an impairment related to the IPR&D, calculated as the excess of the asset’s carrying value over its fair value.

Our policy defines IPR&D as the value assigned to those projects for which the related products have not received regulatory approval and have no alternative future use. Determining the portion of the purchase price allocated to IPR&D requires us to make significant estimates. The amount of the purchase price allocated to IPR&D is determined by estimating the future cash flows of each project or technology and discounting the net cash flows back to their present values. The discount rate used is determined at the time of measurement in accordance with accepted valuation methods. These methodologies include consideration of the risk of the project not achieving commercial feasibility.

At the time of acquisition, we expect that all acquired IPR&D will reach technological feasibility, but there can be no assurance that the commercial viability of these products will actually be achieved. The nature of the efforts to develop the acquired technologies into commercially viable products consists principally of planning, designing, and conducting clinical trials necessary to obtain regulatory approvals. The risks associated with achieving commercialization include, but are not limited to, delay or failure to obtain regulatory approvals to conduct clinical trials, delay or failure to obtain required market clearances, or delays or issues with patent issuance, or validity and litigation. If commercial viability were not achieved, we would likely look to other alternatives to provide these therapies.

Goodwill and other intangible assets that have indefinite useful lives are not amortized, but rather, are tested for impairment annually or more frequently if impairment indicators arise. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill and intangible assets have been recorded at either incurred or allocated cost. Allocated costs were based on respective fair market values at the date of acquisition. We have one intangible asset which has been assigned an indefinite life, the NAMIC trademark that was recently acquired as part of our acquisition of Navilyst, and is valued at $28.6 million.

For goodwill, the impairment test requires a comparison of the estimated fair value of the reporting unit to which the goodwill is assigned to the sum of the carrying value of the assets and liabilities of that unit. If the sum of the carrying value of the assets and liabilities of a reporting unit exceeds the fair value of the reporting unit, the carrying value of the reporting unit’s goodwill is reduced to its implied fair value through an adjustment to the goodwill balance, resulting in an impairment charge. Our determination of impairment is based on estimates of future cash flows. Effective June 1, 2012, we consider our business to be a single operating segment entity – the development, manufacture and sale on a global basis of medical devices for vascular access, surgery, peripheral vascular disease and oncology.

9. Revenue Recognition

We recognize revenue in accordance with generally accepted accounting principles as outlined in the SEC’s authoritative guidance on revenue recognition which requires that four basic criteria be met before revenue can be recognized: (i) persuasive evidence that an arrangement exists; (ii) the price is fixed or determinable; (iii) collectability is reasonably assured; and (iv) product delivery has occurred or services have been rendered. Decisions relative to criterion (iii) regarding collectability are based upon our judgments, as discussed under “Accounts Receivable” above, and should conditions change in the future and cause us to determine this criterion is not met, our results of operations may be affected. We recognize revenue, net of sales taxes assessed by any governmental authority, as products are shipped, based on F.O.B. shipping point terms when title and risk of loss passes to customers. We negotiate shipping and credit terms on a customer-by-customer basis and products are shipped at an agreed upon price. All product returns must be pre-approved by us and customers may be subject to a 20% restocking charge. To be accepted, a returned product must be unadulterated, undamaged and have at least 12 months remaining prior to its expiration date.

We chose to early adopt, effective with the third quarter of fiscal 2010, updated authoritative guidance for revenue recognition relating to the accounting treatment for revenue arrangements that involve more than one deliverable or unit of accounting. At the same time, we also adopted the updated guidance relating to certain revenue arrangements that include software elements. Neither of these had a material effect on our consolidated financial statements.

10. Research and Development

Research and development costs, including salaries, consulting fees, building costs, utilities, administrative expenses and an allocation of corporate costs are related to developing new products, enhancing existing products, validating new and enhanced products, managing clinical, regulatory and medical affairs and our intellectual property and are expensed as incurred.

11. Shipping and Handling Costs

Shipping and handling costs, associated with the distribution of finished products to customers, are recorded in costs of goods sold and are recognized when the related finished product is shipped to the customer. Amounts charged to customers for shipping are recorded in net sales.

12. Income Taxes

Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carryforwards and tax credit carryforwards for which income tax benefits are expected to be realized in future years. A valuation allowance has been established to reduce deferred tax assets, if it is more likely than not that all, or some portion, of such deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in income in the period which includes the enactment date. The deferred tax asset includes net operating losses acquired as part of the acquisitions of Rita, Vortex and Navilyst. These losses could be significantly limited under Internal Revenue Code (“IRC”) Section 382. An analysis of RITA’s ownership changes as defined in IRC Section 382 shows that approximately $15.8 million (of which $7.1 million had expired as of May 31, 2013) of federal net operating losses will not be utilized due to limitations. In addition, it is estimated that $13.6 million of Rita state net operating losses will expire prior to utilization. An analysis of Vortex’s ownership changes as defined in IRC Section 382 shows that all net operating losses will be utilized prior to expiration. A similar analysis of Navilyst’s ownership changes as defined in IRS Section 382 shows that approximately $17.5 million of federal net operating losses will not be utilized due to limitations. In addition, it is estimated that $18.8 million of Navilyst’s state net operating losses will expire prior to utilization. The gross deferred tax asset related to the net operating losses reflects these limitations.

We intend to reinvest indefinitely any of our unrepatriated foreign earnings as of May 31, 2013. We have not provided for U.S. income taxes on these undistributed earnings of our foreign subsidiaries because we consider such earnings to be reinvested indefinitely outside the United States. If these earnings were distributed, we may be subject to both foreign withholding taxes and U.S. income taxes. Determination of the amount of this unrecognized deferred income tax liability is not practical.

13. Fair Value of Financial Instruments

Our financial instruments include cash and cash equivalents, accounts receivable, marketable securities, accounts payable, interest rate swap agreement and contingent earn outs related to the acquisition of Vortex and Microsulis. The carrying amount of cash and cash equivalents, accounts receivable, marketable securities and accounts payable approximates fair value due to the immediate or short-term maturities. The interest rate swap agreement has been recorded at its fair value based on a valuation received from an independent third party. Marketable securities, with the exception of auction rate securities, are carried at their fair value as determined by quoted market prices. The contingent earn out has been recorded at fair value using the income approach.

Per our accounting policy, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This policy establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The policy describes three levels of inputs that may be used to measure fair value which are provided in the table below.

Level 1

Quoted prices in active markets for identical assets or liabilities. Level 1 assets include bank time deposits, money market funds, mutual funds and U.S. Treasury securities that are traded in an active exchange market.

Level 2

Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include US government securities and corporate bonds. When quoted market prices are unobservable, we obtain pricing information from an independent pricing vendor. The pricing vendor uses various pricing models for each asset class that are consistent with what other market participants would use. The inputs and assumptions to the model of the pricing vendor are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and other market-related data. Since many fixed income securities do not trade on a daily basis, the methodology of the pricing vendor uses available information as applicable such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. The pricing vendor considers all available market observable inputs in determining the evaluation for a security. Thus, certain securities may not be priced using quoted prices, but rather determined from market observable information. These investments are included in Level 2 and primarily comprise our portfolio of corporate and government fixed income securities. Additionally included in Level 2 are interest rate swap agreements which are valued using a mid-market valuation model.

Level 3

Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category currently includes the auction rate securities where independent pricing information was not able to be obtained and the contingent Earn out related to the acquisition of Vortex and Microsulis. Our investments in auction-rate securities were classified as Level 3 as quoted prices were unavailable since these auction rate securities issued by New York state and local government authorities failed auction. Due to limited market information, we utilized a discounted cash flow (“DCF”) model to derive an estimate of fair value for all periods presented. The assumptions used in preparing the DCF model included estimates with respect to the amount and timing of future interest and principal payments, forward projections of the interest rate benchmarks, the probability of full repayment of the principal considering the credit quality and guarantees in place, and the rate of return required by investors to own such securities given the current liquidity risk associated with auction-rate securities. The contingent earn outs were valued utilizing a discounted cash flow method as detailed below.

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2013
Financial Assets
Cash equivalents
Money market funds	$	114	$	—	$	—	$	114

Total	$	114	$	—	$	—	$	114
Marketable securities
Corporate bond securities	$	—	$	303	$	—		303
U.S. government agency obligations		—		—		1,850		1,850

Total		—		303		1,850		2,153

Total Financial Assets	$	114	$	303	$	1,850	$	2,267

Financial Liabilities
Interest rate swap agreements	$	—	$	522	$	—	$	522
Contingent liability for acquisition earn out		—		—		75,049	$	75,049

Total Financial Liabilities	$	—	$	522	$	75,049	$	75,571


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2012
Financial Assets
Cash equivalents
Money market funds	$	4,762	$	—	$	—	$	4,762

Total	$	4,762	$	—	$	—	$	4,762
Marketable securities
Corporate bond securities	$	—	$	6,371	$	—		6,371
U.S. government agency obligations		—		5,849		1,850		7,699

Total		—		12,220		1,850		14,070

Total Financial Assets	$	4,762	$	12,220	$	1,850	$	18,832

At May 31, 2012, there were no financial liabilities measured at fair value since the interest rate swap arrangements were paid off during May 2012.

There were no significant transfers in and out of Level 1 and 2 measurements for the year ended May 31, 2013. During the year ended May 31, 2013, the Vortex and Microsulis contingent earn outs discussed below were added to Level 3 fair value instruments.

The components of Level 3 fair value instruments as of May 31, 2013 are shown below (in thousands):


	Financial Assets		Financial Liabilities
	Fair Value Measurements Using Significant Unobservable Inputs		Fair Value Measurements Using Significant Unobservable Inputs
	(Level 3)
Balance, May 31, 2012	$	1,850	$	—
Total gains or losses (realized/unrealized):		—		—
Included in earnings		—		1,583
Included in other comprehensive income		—		—
Purchases, issuances and settlements		—		—
Transfers in and/or (out) of Level 3		—		—
Contingent liability for acquisition earn out		—		73,466

Balance, May 31, 2013	$	1,850	$	75,049

Contingent Liability for Acquisition Earn Outs

Certain of our business combinations involve the potential for the payment of future contingent consideration upon the achievement of certain product development milestones and/or various other favorable operating conditions. Payment of the additional consideration is generally contingent on the acquired company reaching certain performance milestones, including attaining specified revenue levels or achieving product development targets. Contingent consideration is recorded at the estimated fair value of the contingent milestone payments on the acquisition date for all acquisitions subsequent to April 24, 2009. The fair value of the contingent milestone consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recognized as income or expense within acquisition-related items in the condensed consolidated statements of earnings. We measure the initial liability and remeasure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements.

Contingent consideration liabilities will be remeasured to fair value each reporting period using projected net sales, discount rates, probabilities of payment and projected payment dates. Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Projected net sales are based on our internal projections and extensive analysis of the target market and the sales potential. Increases in projected net sales and probabilities of payment may result in higher fair value measurements in the future. Increases in discount rates and the projected time to payment may result in lower fair value measurements in the future. Increases or decreases in any valuation inputs in isolation may result in a significantly lower or higher fair value measurement in the future.

The recurring Level 3 fair value measurements of the contingent consideration liability related to the Vortex and Microsulis acquisitions include the following significant unobservable inputs ($ in millions):


	Fair value at May 31, 2013		Valuation Technique	Unobservable Input	Range
Revenue based payments	$	75.0	Discounted	Discount rate	4%
			cash flow	Probability of payment	75-100%
				Projected fiscal year of payment	2014 -2022

At May 31, 2013, the estimated potential amount of undiscounted future contingent consideration that we expect to pay as a result of all completed acquisitions is approximately $94 million. The milestones associated with the contingent consideration must be reached in future periods ranging from fiscal years 2013 to 2022 in order for the consideration to be paid.

The fair value of contingent milestone payments associated with the acquisitions was remeasured as of May 31, 2013 and $65.8 million was reflected in “Contingent consideration, net of current portion” and $9.2 million was reflected in “Current portion of contingent consideration” on the consolidated balance sheet. The following table provides a reconciliation of the beginning and ending balances of contingent milestone payments associated with the Vortex and Microsulis acquisitions measured at fair value that used significant unobservable inputs (Level 3) (in millions):


Beginning balance—May 31, 2012	$	—
Purchase price contingent consideration		73.4
Contingent payments		—
Change in fair value of contingent consideration		1.6

Ending balance—May 31, 2013	$	75.0

15. Derivative Financial Instruments

We are exposed to market risk due to changes in interest rates. To reduce this risk, we periodically enter into certain derivative financial instruments to hedge the underlying economic exposure. We use derivative instruments as part of our interest rate risk management strategy. The derivative instruments used are floating-to-fixed rate interest rate swaps, which are subject to cash flow hedge accounting treatment. The cash flow hedge was terminated in May 2012 in conjunction with the early payoff of the related debt. We recognized interest expense of $61,000 and $37,000 for the fiscal 2012 and 2011 periods, respectively, on the cash flow hedge.

In accordance with authoritative guidance on Accounting for Derivatives and Hedging Activities, as amended, our 2002 interest rate swap agreement qualified for hedge accounting under GAAP and the 2006 interest rate swap agreement did not. Both were presented in the consolidated financial statements at their fair value. Changes in the fair value of derivative financial instruments were either recognized periodically in income or in stockholders’ equity as a component of accumulated other comprehensive income (loss) depending on whether the derivative financial instrument qualifies for hedge accounting and, if so, whether it qualifies as a fair value or cash flow hedge. Generally, the changes in the fair value of derivatives accounted for as fair value hedges are recorded in income along with the portions of the changes in the fair value of hedged items that relate to the hedged risks. Changes in the fair value of derivatives accounted for as cash flow hedges, to the extent they are effective as hedges, are recorded in accumulated other comprehensive income (loss). Both the 2002 and the 2006 swap agreements were terminated in May 2012 in conjunction with the early payoff of the related debt.

In June 2012, we entered in an interest rate swap agreement, with an initial notional amount of $100 million, to limit the effect of variability due to interest rates on the loan. The Swap Agreement, which qualifies for hedge accounting under authoritative guidance, is a contract to exchange floating interest rate payments for fixed interest rate payments of 3.26% of the outstanding balance of the loan over the life of the agreement without the exchange of the underlying notional amounts.

16. Stock-Based Compensation

We recognize compensation expense for all share-based payment awards made to our employees and directors including employee stock options and employee stock purchases related to our Stock Purchase Plan based on estimated fair values. We recognize compensation expense for our stock awards on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period.

The amount of stock-based compensation recognized is based on the value of the portion of awards that are ultimately expected to vest. Guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered option. We currently expect, based on an analysis of our historical forfeitures, that approximately 88% of our options will vest annually, and we have therefore applied a 12% annual forfeiture rate in determining the stock-based compensation charge recorded. We will re-evaluate this estimate periodically and adjust the forfeiture rate on a prospective basis as necessary. Ultimately, the actual expense recognized over the vesting period will only be for those shares that actually vest.

For the fiscal years ended May 31, 2013, May 31, 2012 and May 31, 2011, we used the Black-Scholes option-pricing model (“Black-Scholes”) as our method of valuation and a single option award approach. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. The fair value of share based payment awards on the date of the grant as determined by the Black-Scholes model is affected by our stock price as well as other assumptions. These assumptions include, but are not limited to the expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, and a risk-free interest rate. The risk-free interest rate is based on factual data derived from public sources. The expected stock-price volatility and option life assumptions require significant judgment which makes them critical accounting estimates.

We utilize our historical volatility when estimating expected stock price volatility. We use yield rates on U.S. Treasury securities for a period approximating the expected term of the award to estimate the risk-free interest rate. The expected term is based on our actual historical experience. The dividend yield is based on the history and expectation of dividend payments. We have not paid dividends in the past nor do we expect to pay dividends in the foreseeable future. Our historical data includes information from May 27, 2004, the date of our initial public offering.

17. Earnings Per Common Share

Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share further includes the dilutive effect of potential common stock consisting of stock options, warrants, restricted stock units and shares issuable upon conversion of convertible debt into shares of common stock, provided that the inclusion of such securities is not antidilutive.

For the period ending May 31, 2013, options and restricted stock units issued to employees and non-employees to purchase approximately 2.9 million shares of common stock were excluded from the calculation of diluted earnings per common share as their inclusion would be anti-dilutive. Excluded from the calculation of diluted earnings per common share are options and restricted stock units issued to employees and non-employees to purchase approximately 2.3 million shares of common stock at May 31, 2012 as their inclusion would be anti-dilutive compared with options and restricted stock units issued to employees and non-employees to purchase approximately 2.0 million shares of common stock at May 31, 2011.

The following table sets forth the reconciliation of the weighted-average number of common shares:


	2013		2012		2011
Basic		34,817,279		25,382,293		24,870,005
Effect of dilutive securities		—		—		262,758

Diluted		34,817,279		25,382,293		25,132,763

18. Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.

19. Supplier Concentrations

We are dependent upon the ability of our suppliers to provide products on a timely basis and on favorable pricing terms. The loss of our principal suppliers or a significant reduction in product availability from these suppliers could have a material adverse effect on us. We believe that our relationships with these suppliers are satisfactory.

20. Recently Issued Accounting Pronouncements

In June 2011 and December 2011, the FASB updated the disclosure requirements for comprehensive income. The updated guidance requires companies to disclose the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The updated guidance does not affect how earnings per share is calculated or presented. The updated guidance is effective annual periods, and interim periods within those years, beginning after December 15, 2011 (our fiscal year 2013). We have provided the disclosure in a separate statement herein. The adoption of this guidance had no material impact on our consolidated financial statements.

In September 2011, the FASB updated the accounting guidance related to testing goodwill for impairment. This update permits an entity to make a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying value before applying the two-step goodwill impairment model that is currently in place. If it is determined through the qualitative assessment that a reporting unit’s fair value is more likely than not greater than its carrying value, the quantitative assessment steps would be unnecessary. The qualitative assessment is optional, allowing companies to go directly to the quantitative assessment. This update is effective for annual and interim goodwill impairment tests performed in fiscal years beginning after December 15, 2011 (our fiscal year 2013) however, early adoption is permitted. The adoption of this guidance had no material impact on our consolidated financial statements.

In July 2012, the FASB updated the accounting guidance related to testing indefinite-lived intangible assets for impairment. This update permits an entity to first make a qualitative assessment of whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative impairment test unless the entity determines that it is more likely than not that the asset is impaired. The more-likely-than—not threshold is defined as having a likelihood of more than 50%. This update is effective for annual and interim impairment tests performed in fiscal years beginning after September 15, 2012 (our fiscal year 2014) however early adoption is permitted, provided that the entity has not yet performed its annual impairment test or issued its financial statements. We are currently evaluating the impact of adoption of this accounting guidance on our consolidated financial statements.

In December 2011 and January 2013, the FASB issued new accounting guidance related to disclosures on offsetting assets and liabilities on the balance sheet. The newly issued accounting standard requires an entity to disclose both gross and net information about instruments and transactions executed under a master netting, or similar, arrangement and was issued to enable users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This guidance is required to be applied retrospectively and is effective for fiscal years beginning on or after January 1, 2013 (our fiscal year 2014). Since the guidance only impacts disclosure requirements, its adoption will not have a material impact on our consolidated financial statements.

In February 2013, the FASB expanded the disclosure requirements related to changes in accumulated other comprehensive income (AOCI). The new guidance requires disclosure of the amount of income (or loss) reclassified out of AOCI to each respective line item on the statement of operations where net income is presented. The guidance allows disclosure of the reclassification either in the notes to the financial statements or parenthetically on the face of the financial statements. This requirement is effective for reporting periods beginning after December 15, 2012 (fourth quarter of our fiscal year 2013). Since the guidance only impacts disclosure requirements, its adoption did not have a material impact on our consolidated financial statements.

In July 2013, the FASB issued guidance related to the presentation of certain tax information. This new pronouncement provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, or similar tax loss, or a tax credit carryforward exists. This pronouncement is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2013 (our fiscal year 2015). Since the guidance only impacts presentation requirements, its adoption will not have a material impact on our consolidated financial statements.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References + Details

Acquisitions

12 Months Ended

May 31, 2013

Acquisitions [Abstract]

ACQUISITIONS

NOTE B—ACQUISITIONS

Acquisition of Microsulis Medical Ltd.

The total estimated purchase consideration of $33.6 million included the initial investment of $5.0 million, closing payments totaling $10.5 million, a $5.0 million payment due on December 31, 2013 and the estimated fair value of contingent consideration (Earn out) of $13.2 million. The estimated fair value of contingent consideration is based on projected net sales over the nine year period following the closing. The amount of the Earn out consideration that could be paid on net sales is not limited.

The Microsulis historical financial results were not significant and therefore pro forma results would not be substantially different. Sales since the acquisition closed are not significant and the operations of Microsulis have been fully integrated from the date of acquisition.

The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed (in thousands):


Accounts receivable	$	364
Inventories		687
Other current assets		443
Fixed assets		1,906
Intangibles		12,500
Goodwill		19,284

Total assets acquired		35,184
Liabilities assumed		(1,634	)

Total purchase price	$	33,550

Cash payment at closing	$	10,566
Cash payment for initial investment		5,000
Present value of deferred payment		4,820
Present value of contingent consideration liability		13,164

Total purchase price	$	33,550

The estimated purchase consideration exceeded the fair value of the acquired net assets by $19.3 million and was recorded as goodwill. Goodwill is deductible for tax purposes. Intangible assets are being amortized over their estimated useful lives of which range from 10 to 15 years. During the fiscal year ended May 31, 2013, we incurred acquisition related costs of $312 thousand, which were expensed to “Acquisition, restructuring and other items, net” in the statement of operations. We have not finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date becomes available.

Acquisition of Vortex Medical, Inc.

The stock purchase agreement provided for the payment of $15.1 million in cash at closing, which is subject to a working capital adjustment, plus future earn out consideration payable in cash. Earn out consideration is based on our net sales of the AngioVac system during the ten years following the closing, payable in the amount of 10% of annual net sales up to $150 million, 12.5% of annual net sales between $150 million and $500 million, and 15% of annual net sales above $500 million. The Earn out consideration is subject to guaranteed minimum payments payable on the anniversary dates following closing, in the amounts of $8.35 million on the first, $8.0 million on the second, third and fourth, and $7.65 million on the fifth anniversary date. If a minimum payment for a period exceeds the contingent earn out payment for the same period, the amount of the excess will be credited against future contingent earn out payments.

The total estimated purchase consideration of $75.3 million included the upfront payment of $15.1 million and the estimated fair value of contingent consideration of $60.3 million, $40 million of which is guaranteed. The estimated fair value of contingent consideration is based on projected AngioVac net sales in the ten year period following the closing. The amount of the Earn out consideration that could be paid on AngioVac net sales is not limited.

The Vortex historical financial results were not significant and therefore pro forma results would not be substantially different. Sales since the acquisition closed are not significant and the operations of Vortex have been fully integrated from the date of acquisition.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed (in thousands):


Cash and cash equivalents	$	339
Accounts receivable		203
Inventories		488
Other assets		7
Deferred tax assets		1,307
Intangibles		72,430
Goodwill		29,519

Total assets acquired		104,293
Deferred tax liabilities		(28,340	)
Liabilities assumed		(661	)

Total purchase price	$	75,292

Cash payments at closing	$	15,105
Present value of contingent consideration liability		60,302
Working capital adjustment		(115	)

Total purchase price	$	75,292

The estimated purchase consideration exceeded the fair value of the acquired net assets by $29.5 million and was recorded as goodwill. Goodwill is not deductible for tax purposes. Core technologies are being amortized over their estimated useful lives of approximately 15 years as revenues are earned from the sales of the related products. During the fiscal year ended May 31, 2013, we incurred acquisition related costs of $645 thousand, which were expensed to “Acquisition, restructuring and other items, net” in the statement of operations. We have not finalized the purchase accounting, which may be adjusted as further information about conditions existing at the acquisition date becomes available.

Acquisition of Navilyst

The fiscal year ended May 31, 2013 and 2012 included $7.3 million and $11.2 million, respectively, in transaction and severance costs related to the Navilyst acquisition. These costs are included in “Acquisition, restructuring and other items, net” in the statement of operations. Investment funds affiliated with Avista Capital Partners, former owners of Navilyst, received approximately 9.4 million shares of our common stock and, as of May 31, 2013, held approximately 27% of our outstanding shares. Investment funds affiliated with Avista Capital Partners entered into a stockholders agreement with us as part of the transaction and also appointed two additional directors to our existing Board of Directors.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed (in thousands):


	May 22, 2012
Cash and cash equivalents	$	7,683
Accounts receivable		19,069
Inventories		26,851
Prepaid expenses and other current assets		5,504
Property, plant and equipment		34,017
Deferred tax assets		34,209
Goodwill		144,705
Intangibles		107,100
Other long-term assets		497

Total assets acquired		379,635
Liabilties assumed		(18,287	)

Total net assets acquired	$	361,348

See Note G for additional information about changes in the carrying amount of goodwill.

The following supplemental unaudited pro forma information presents our financial results as if the acquisition of Navilyst had occurred on June 1, 2010 (in thousands):


	For the years ended May 31,
	2012		2011
	(unaudited)
Net sales	$	365,357	$	369,381

Net income (loss)	$	3,897	$	(2,786	)

The above unaudited pro forma information was determined based on historical GAAP results of AngioDynamics and Navilyst. The unaudited pro forma consolidated results are not necessarily indicative of what our consolidated results of operations actually would have been if the acquisition was completed on June 1, 2010. The unaudited pro forma consolidated net income primarily reflects adjustments of:

(i)	exclusion of $17.6 million of transaction costs and restructuring charges for both AngioDynamics and Navilyst for the year ended May 31, 2012, which are directly attributable to the transaction and inclusion of these charges for the year ended May 31, 2011;

(ii)	inclusion of $3.8 million of inventory step-up directly related to the transaction for the year ended May 31, 2011;

(iii)

inclusion of $4.7 million of interest expense related to the $150 million credit facility associated with the transaction for the years ended May 31, 2012 and 2011; and

(iv)	tax effecting the unaudited pro forma consolidated net income and adjustments for the years ended May 31, 2012 and 2011.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Marketable Securities and Investments

12 Months Ended

May 31, 2013

Marketable Securities and Investments [Abstract]

MARKETABLE SECURITIES AND INVESTMENTS

NOTE C—MARKETABLE SECURITIES AND INVESTMENTS

Marketable securities as of May 31, 2013 consisted of the following:


	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	1,850	$	—	$	—	$	1,850
Corporate bond securities		303		—		—		303

	$	2,153	$	—	$	—	$	2,153

Marketable securities as of May 31, 2012 consisted of the following:


	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	7,739	$	5	$	(45	)	$	7,699
Corporate bond securities		6,516		10		(155	)		6,371

	$	14,255	$	15	$	(200	)	$	14,070

The amortized cost and fair value of marketable securities at May 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized cost		Fair Value
	(in thousands)
As of May 31, 2013:
Due in one year or less	$	—	$	—
Due after one through five years		303		303
Due after five through twenty years		1,850		1,850

	$	2,153	$	2,153

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
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-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6511694

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventories

12 Months Ended

May 31, 2013

Inventories [Abstract]

INVENTORIES

NOTE D—INVENTORIES

Inventories consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Raw materials	$	18,362	$	18,984
Work in process		11,006		9,504
Finished goods		25,694		27,335

Inventories	$	55,062	$	55,823

Prepaid Expenses and Other

12 Months Ended

May 31, 2013

Prepaid Expenses and Other/Prepaid Royalties [Abstract]

PREPAID EXPENSES AND OTHER

NOTE E—PREPAID EXPENSES AND OTHER

Prepaid expenses and other consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Deposits	$	4,029	$	3,187
Income and other taxes		1,021		3,206
Licensee fees		809		364
Software licenses		520		407
Trade shows		487		660
Rent		135		107
Insurance		120		343
Interest receivable		2		100
Other		994		1,452

Total	$	8,117	$	9,826

Property, Plant and Equipment, at Cost

12 Months Ended

May 31, 2013

Property, Plant and Equipment, at Cost [Abstract]

PROPERTY, PLANT AND EQUIPMENT, AT COST

NOTE F—PROPERTY, PLANT AND EQUIPMENT, AT COST

Property, plant and equipment are summarized as follows:


	May 31, 2013			May 31, 2012			Estimated useful lives
	(in thousands)
Building and building improvements	$	30,150		$	29,743		39 years
Machinery and equipment		31,129			27,618		3 to 8 years
Computer software and equipment		16,390			16,501		3 to 5 years
Construction in progress		13,373			3,454

		91,042			77,316
Less accumulated depreciation and amortization		(29,421	)		(22,430	)

		61,621			54,886
Land and land improvements		1,029			1,029

	$	62,650		$	55,915

Depreciation expense for fiscal 2013, 2012 and 2011 was $8.7 million, $3.6 million and $3.0 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Goodwill and Intangible Assets

12 Months Ended

May 31, 2013

Goodwill and Intangible Assets [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE G—GOODWILL AND INTANGIBLE ASSETS

Intangible assets other than goodwill and indefinite lived intangible assets are amortized over their estimated useful lives, which range between three and twenty years, on either a straight-line basis over the expected period of benefit or as revenues are earned from the sales of the related products. We periodically review the estimated useful lives of our intangible assets and review such assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Our determination of impairment is based on estimates of future cash flows. If an intangible asset is considered to be impaired, the amount of the impairment will equal the excess of the carrying value over the fair value of the asset.

Goodwill and intangible assets that have indefinite useful lives are not amortized, but rather, are tested for impairment annually or more frequently if impairment indicators arise. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill and intangible assets have been recorded at either incurred or allocated cost. Allocated costs were based on respective fair market values at the date of acquisition.

We have one intangible asset which has been assigned an indefinite life, the NAMIC trademark, which was acquired as part of our acquisition of Navilyst, and is valued at $28.6 million.

We test goodwill for impairment during the third quarter of every fiscal year, and when an event occurs or circumstances change such that it is reasonably possible that impairment exists. For goodwill, the impairment test requires a comparison of the estimated fair value of the reporting unit to which the goodwill is assigned to the sum of the carrying value of the assets and liabilities of that unit. If the sum of the carrying value of the assets and liabilities of a reporting unit exceeds the fair value of the reporting unit, the carrying value of the reporting unit’s goodwill is reduced to its implied fair value through an adjustment to the goodwill balance, resulting in an impairment charge. Our determination of impairment is based on estimates of future cash flows.

To determine fair value, we considered two market-based approaches and an income approach. Under the market-based approaches, we utilized information regarding our own as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach, we determined fair value based on estimated future cash flows of the reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn. We determined the discounted cash flow as the best indicator to determine fair value.

Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates and future market conditions, among others. These assumptions are highly sensitive and changes in these estimates could result in impairment. Solely for purposes of establishing inputs for the fair value calculations, we assumed that the current economic conditions would continue through fiscal year 2014, followed by a recovery thereafter. In addition, we applied gross margin assumptions consistent with our historical trends at various revenue levels and used an EBITDA exit multiple of 6.0 to calculate the terminal value of the reporting unit. In addition, we used a discount rate of 13.5% to calculate the fair value of our reporting unit.

We completed our annual goodwill impairment test as of December 31, 2012. At December 31, 2012, our reporting unit is the same as our reportable segment. Our assessment of goodwill impairment indicated that the fair value of our reporting unit exceeded its carrying value and therefore goodwill was not impaired. The fair value of our reporting unit exceeded its carrying value by 5%. The fair value of the reporting unit was reconciled to our current stock market capitalization plus an estimated control premium of approximately 60% as of December 31, 2012.

Since early November 2008, our stock market capitalization has at times been lower than our shareholders’ equity or book value. However, our reporting unit has continued to generate significant cash flows from operations, and we expect to continue to do so in fiscal 2014 and beyond. Furthermore, we believe that a reasonable potential buyer would offer a control premium for our business that would adequately cover the difference between our stock market capitalization and our book value.

We also completed our annual indefinite lived asset (NAMIC trademark) test as of December 31, 2012 using the income approach to determine fair value. Our assessment of the NAMIC trademark indicated that the fair value exceeded the carrying value and therefore the asset was not impaired.

Even though we determined that there was no goodwill impairment as of December 31, 2012, the future occurrence of a potential indicator of impairment, such as a significant adverse change in legal factors or business climate, an adverse action or assessment by a regulator, unanticipated competition, a material negative change in relationships with significant customers, strategic decisions made in response to economic or competitive conditions, loss of key personnel or a more-likely-than-not expectation that the reporting unit or a significant portion of the reporting unit will be sold or disposed of, would require an interim assessment for the reporting unit prior to the next required annual assessment as of December 31, 2013.

It is not possible at this time to determine if any such future impairment charge would result or, if it does, whether such charge would be material. Events that could, in the future, result in impairment include, but are not limited to, declining sales for a significant product or in a significant geographic region.

Adjustments to goodwill for the fiscal year ended May 31, 2013 and May 31, 2012 are as follows (in thousands):


	Total
Balance, May 31, 2011	$	161,951
Goodwill recognized from Navilyst business combination		146,961

Balance, May 31, 2012	$	308,912

Goodwill recognized from Vortex business combination		29,519
Goodwill recognized from Microsulis asset acquisition		19,284
Adjustments to Navilyst purchase price allocation		(2,257	)

Balance, May 31, 2013	$	355,458

The above $2.3 million reduction in the carrying value of goodwill is primarily the result of an $858,000 payment from former stockholders of Navilyst and a $1,560,000 increase in the value of deferred tax assets from the Navilyst acquisition, net of $161,000 of preacquisition Navilyst tax adjustments.

The balances of intangible assets are as follows:


	May 31, 2013
	Gross carrying value		Accumulated amortization			Net carrying value		Weighted avg useful life
	(in thousands)							(years)
Product technologies	$	150,181	$	(24,835	)	$	125,346		10.6
Customer relationships		84,479		(30,595	)		53,884		14.8
Trademark—NAMIC		28,600		—			28,600		Indefinite
Licenses		6,302		(4,501	)		1,801		9.0
Trademarks		6,275		(1,058	)		5,217		9.9
Distributor relationships		900		(900	)		—		3.0

	$	276,737	$	(61,889	)	$	214,848


	May 31, 2012
	Gross carrying value		Accumulated amortization			Net carrying value		Weighted avg useful life
	(in thousands)							(years)
Customer relationships	$	82,205	$	(22,123	)	$	60,082		11.7
Product technologies		55,540		(18,839	)		36,701		11.3
Trademark—NAMIC		28,600		—			28,600		Indefinite
In process R&D Acquired		15,042		—			15,042		Indefinite
Licenses		6,152		(3,711	)		2,441		9.1
Trademarks		4,575		(375	)		4,200		7.3
Distributor relationships		1,140		(940	)		200		2.6

	$	193,254	$	(45,988	)	$	147,266

Amortization expense was $16.3 million, $9.4 million and $9.2 million for fiscal 2013, 2012 and 2011, respectively.

Annual amortization of these intangible assets is expected to approximate the following amounts for each of the next five fiscal years (in thousands):


2014	$	15,198
2015		14,391
2016		15,498
2017		16,318
2018		17,523

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Income Taxes

12 Months Ended

May 31, 2013

Income Taxes [Abstract]

INCOME TAXES

NOTE H—INCOME TAXES

The components of income (loss) before income tax provision for the years ended May 31 are as follows:


	2013			2012			2011
	(in thousands)
(Loss) income before tax provision:
US	$	(2,670	)	$	(5,151	)	$	10,076
Non-US		2,027			(131	)		622

	$	(643	)	$	(5,282	)	$	10,698

Income tax (benefit) provision analyzed by category and by statement of operations classification for the years ended May 31 is summarized as follows:


	2013			2012			2011
	(in thousands)
Current
Federal	$	(1,622	)	$	448		$	3,030
State and local		(52	)		(19	)		323
Non U.S.		468			18			142

		(1,206	)		447			3,495
Deferred		1,175			(635	)		(914	)

	$	(31	)	$	(188	)	$	2,581

The significant components of deferred income tax (benefit) expense from operations for the years ended May 31 consist of the following:


	2013		2012			2011
	(in thousands)
Deferred tax benefit	$	1,175	$	(1,722	)	$	(4,092	)
Net operating loss carryforward		—		1,087			3,178

	$	1,175	$	(635	)	$	(914	)

Temporary differences that give rise to deferred tax assets and liabilities are summarized as follows:


	May 31, 2013			May 31, 2012
	(in thousands)
Deferred tax assets
Net operating loss carryforward	$	47,098		$	45,707
Stock-based compensation		4,813			5,394
Federal and state R&D tax credit carryforward		490			629
Inventories		1,713			95
State tax credits		1,326			1,929
Expenses incurred not currently deductible		880			1,780
Capital loss carryforwards		95			371
Deferred revenue		1,147			1,256

Gross deferred tax asset		57,562			57,161

Deferred tax liabilities
Excess tax over book depreciation and amortization		39,252			11,820
Impairment of long-lived assets		—			24

		39,252			11,844
Valuation Allowance		(712	)		(1,196	)

Net deferred tax asset	$	17,598		$	44,121

At May 31, 2013, we had approximately $166.5 million of remaining Federal net operating loss carryforwards and $181.9 million of state net operating loss carryforwards (“NOL”) which were generated by acquired companies. These net operating losses are subject to Internal Revenue Code (“IRC”) Section 382 limitations which are expected to significantly limit our ability to utilize these net operating losses on an annual basis. As a result of our IRC Section 382 analyses, it is estimated that approximately $31.1 million of remaining Federal net operating losses and $27.2 million of state net operating losses will expire prior to utilization. The gross deferred income tax asset (“DTA”) related to the NOL reflects these limitations.

In order to ensure the realizability of our deferred tax assets, we need to generate $9.2 million of taxable income for the next ten years and then $5.4 million of taxable income for the final eight years of the remaining eighteen year carryforward period. If we are unable to meet these minimum taxable income levels, the deferred tax assets may still be utilized in future years if we can make up previous year taxable income short falls prior to the expiration of net operating loss carryforwards. We have determined that we have sufficient existing levels of pre-tax earnings to generate sufficient taxable income to realize the net deferred tax assets recorded on our balance sheets.

In order to support the realizability of our net deferred tax asset, we projected our pre-tax income utilizing a combination of historical and projected results. Utilizing this projected pre-tax income, we have projected taxable income taking into consideration existing levels of permanent differences including stock option exercise deductions and non-deductible expenses and the reversal of significant temporary differences.

Our Federal net operating loss carryforwards as of May 31, 2013 after considering IRC Section 382 limitations are $135.4 million. The expiration of the Federal net operating loss carryforwards are as follows: $20.8 million between 2017 and 2021, $9.9 million between 2022 and 2026 and $104.7 million between 2027 and 2031.

Our state net operating loss carryforwards as of May 31, 2013 after considering remaining IRC Section 382 limitations are $154.7 million which expire in various years from 2014 to 2031.

At May 31, 2013, we had $2.6 million of state credits which have an unlimited carryforward period. We have a deferred tax asset valuation allowance against $0.6 million of these credits because we do not expect to be able to utilize them.

At May 31, 2013, we had a net deferred income tax asset of $17.6 million, after recording a valuation allowance of $0.7 million. The valuation allowance decreased by $484,000 in 2013 and increased by $62,000 in 2012. The 2013 change relates to the use of fully reserved capital losses and the expiration of fully reserved state tax credits. The 2012 change relates to the use of fully reserved state tax credits due to a temporary change in state tax law offset by capital losses incurred in each year which were fully reserved. The valuation allowance recorded against the deferred tax assets relates to state tax credits, capital losses and state NOLs that management has estimated will more likely than not expire before they are expected to be utilized.

Our consolidated income tax provision has differed from the amount that would be provided by applying the U.S. Federal statutory income tax rate to our income before income taxes for the following reasons:


	2013			2012			2011
	(in thousands)
Income tax (benefit) provision	$	(31	)	$	(188	)	$	2,581
Effect of Graduated tax rates		(6	)		(53	)		107
State income taxes, net of Federal tax benefit		(88	)		(158	)		99
State income tax credits, net of Federal tax benefit		23			69			300
Impact of Non US operations		228			(46	)		65
Tax-exempt interest		2			4			5
Research and development tax credit		142			115			549
Domestic Production Activities deduction		—			71			471
Nondeductible acquisition costs		(110	)		(1,144	)		—
Nondeductible interest on contingent payments		(130	)		—			—
Nondeductible stock-based compensation		(108	)		(125	)		(119	)
Other nondeductible expenses		(336	)		(336	)		(323	)
Overaccrual (underaccrual) of prior year Federal and state taxes		10			138			49
Fully reserved capital losses		179			(208	)		(19	)
Other		—			12			(21	)

Income tax (benefit) provision at statutory tax rate of 35%	$	(225	)	$	(1,849	)	$	3,744

During the twelve months ended May 31, 2013, we did not recognize any tax liabilities related to uncertain tax positions. Due to our unrecognized tax benefit being zero upon adoption, with no change since adoption, no “tabular reconciliation” of the total amount of unrecognized tax benefits at the beginning and end of the period is being presented.

We recognize interest and penalties related to unrecognized tax benefits within our global operations as a component of income tax expense. There were no accrued interest and penalties recognized in the consolidated balance sheet as of May 31, 2013 and May 31, 2012.

We file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world. The Internal Revenue Service (“IRS”) completed an examination of our federal income tax returns for fiscal years 2006 and 2007 in February 2009 which did not result in a material impact on our results of operations or financial position. During fiscal year 2012, New York State completed an examination of our New York State Franchise Tax returns for fiscal years 2005 to 2008. In relation to this examination, income tax expense in fiscal 2011 includes an out-of-period benefit of $300,000 to correct an error that originated in prior years related to certain state tax credits. We assessed the impact of this adjustment on the 2011 year and all prior periods and determined that the cumulative effect of the adjustments was not material to the full year 2011 and did not result in a material misstatement to any previously issued annual or quarterly financial statements. Additionally, as a result of the audit, we were able to claim state tax credits of $210,000 that are recorded in fiscal year 2012.

Fiscal years 2010 through 2013 remain open to examination by the various tax authorities. New York State is currently auditing Navilyst’s franchise tax filings for 2009 through 2011, we do not anticipate any material adjustments will result. We analyzed filing positions in all of the Federal and state jurisdictions where we are required to file income taxes, as well as all open tax years in these jurisdictions and believe that our income tax filing positions and deductions will be sustained on audit and we do not anticipate any adjustments will result in a material adverse effect on our financial condition, results of operations or cash flows.

We do not anticipate that the amount of unrecognized tax benefits will significantly change in the next twelve months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Prepaid Royalties

12 Months Ended

May 31, 2013

Prepaid Expenses and Other/Prepaid Royalties [Abstract]

PREPAID ROYALTIES

NOTE I—PREPAID ROYALTIES

On August 13, 2007, we entered into a Distribution, Manufacturing and Purchase Option Agreement (“the Agreement”) with a company to acquire the exclusive worldwide rights to manufacture and distribute a split tip catheter for the dialysis market we have named Centros which included the option to purchase certain intellectual property associated with these products in the future. Under this Agreement, we paid royalties on net sales of the products covered in the Agreement. In accordance with the Agreement, we prepaid $3.0 million of royalties based upon the achievement of certain milestones. At May 31, 2011, based on lower than anticipated sales results, we reduced the prepaid royalties to net realizable value which resulted in an impairment loss of $2.3 million recorded in “Acquisition, restructuring and other items, net” in our fiscal 2011 statement of operations. In August 2011, we sold both the tangible and intangible assets associated with the Centros product, resulting in a gain of $201 thousand that is included in “Acquisition, restructuring and other items, net” in the statement of operations for the year ended May 31, 2012 and the elimination of all related “Prepaid Royalties” on the balance sheet as of May 31, 2012. We have entered into various other agreements that required royalty prepayments and these are reported in “Prepaid Royalties” on the May 31, 2013 and May 31, 2012 balance sheets.

Accrued Liabilities

12 Months Ended

May 31, 2013

Accrued Liabilities [Abstract]

ACCRUED LIABILITIES

NOTE J—ACCRUED LIABILITIES

Accrued liabilities consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Payroll and related expenses	$	6,491	$	5,674
Royalties		2,034		2,258
Accrued severance		1,602		2,087
Deferred revenue		1,573		3,138
Sales and franchise taxes		1,047		1,092
Interest rate swap liability		523		—
Other		3,156		4,473

Total	$	16,426	$	18,722

Long-Term Debt

12 Months Ended

May 31, 2013

Long-Term Debt [Abstract]

LONG-TERM DEBT

NOTE K—LONG-TERM DEBT

Bank Credit Agreement

In connection with the Navilyst acquisition, we entered into a Credit Agreement with a group of banks which provided a $150 million senior secured term loan facility and a $50 million senior secured revolving credit facility. The $150 million in proceeds from the term loan were used to finance a portion of the consideration for the acquisition. The revolving facility may be used for general corporate purposes and was undrawn at May 31, 2013. Both facilities have five year maturities. The term facility has a quarterly repayment schedule equal to 5%, 5%, 15%, 25% and 50% of its principal amount in years one through five. The credit agreement contains certain financial covenants relating to fixed charge coverage and leverage, as defined, with which we were in compliance at May 31, 2013. Amounts borrowed under the Credit Agreement are collateralized by all our assets. Interest on both the term loan and the revolving loan is based on a base rate or Eurodollar rate plus an applicable margin with increases as our total leverage ratio increases, and with the base rate and Eurodollar rate have ranges of 1.0% to 1.75% and 2.0% to 2.75% respectively. In the event of default, the interest rate may be increased by 2.0%. The revolving facility will also carry a commitment fee of 0.30% to 0.50% per year on the unused portion. As of May 31, 2013, net deferred financing costs of $1.95 million are recorded as a component of other assets on the balance sheet and are being amortized over the remaining life of the related debt.

In June 2012, we entered in an interest rate swap agreement, with an initial notional amount of $100 million, to limit the effect of rising of interest rates. The Swap Agreement, which qualifies for hedge accounting under authoritative guidance, is a contract to exchange floating interest rate payments for fixed interest rate payments on the outstanding balance of the loan over the life of the agreement without the exchange of the underlying notional amounts. The Swap Agreement provides for a fixed rate of 0.74% above the applicable rate provided for in the Credit Agreement.

The Credit Agreement includes, among other standard provisions, two financial covenants. The first financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of (i) consolidated EBITDA minus consolidated capital expenditures to (ii) consolidated interest expense paid or payable in cash plus scheduled principal payments in respect of indebtedness under the Credit Agreement of not less than 1.75 to 1.00. The second financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of consolidated total indebtedness to consolidated EBITDA of not more than the applicable ratios as set forth in the Credit Agreement. We were in compliance with both financial covenants as of May 31, 2013.

Industrial Revenue Bonds

In September 2002, we borrowed $3,130,000 in Industrial Revenue Bonds and entered into an interest rate swap agreement, both of which were repaid in May 2012.

Taxable Adjustable Rate Notes

In December 2006, we borrowed $5,000,000 in Tax Adjustable Rate Notes and entered into an interest rate swap agreement, both of which were repaid in May 2012.

Following is a summary of long-term debt (in thousands):


	May 31, 2013			May 31, 2012
Bank Notes	$	142,500		$	150,000
Less: current maturities		(7,500	)		(7,500	)

Long-term debt	$	135,000		$	142,500

At May 31, 2013, future minimum principal payments on long-term debt were as follows (in thousands):


2014	$	7,500
2015		22,500
2016		37,500
2017		75,000

	$	142,500

Retirement Plans

12 Months Ended

May 31, 2013

Retirement Plans [Abstract]

RETIREMENT PLANS

NOTE L—RETIREMENT PLANS

We have a 401(k) plan under which eligible employees can defer a portion of their compensation, part of which is matched by us. Matching contributions were $2.5 million, $2.0 million and $1.8 million in 2013, 2012 and 2011, respectively.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity

12 Months Ended

May 31, 2013

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE M—STOCKHOLDERS’ EQUITY

1. Capitalization

On February 27, 2004, our Board of Directors and the Former Parent, as sole stockholder, approved our Amended and Restated Certificate of Incorporation (the “Amended Certificate”). Under the Amended Certificate, the authorized capital stock is 50,000,000 shares, consisting of 45,000,000 shares of common stock, par value $.01 per share and 5,000,000 shares of preferred stock, par value $.01 per share. Pursuant to the Amended Certificate, (i) each share of voting common stock, $1 par value and (ii) each share of non-voting common stock, $1 par value was reclassified and exchanged into 9,200 shares of issued, fully paid, non-assessable common stock for a total of 9,200,000 shares to be then outstanding.

The holders of common stock are entitled to one vote for each share held. Subject to preferences applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably dividends, if any, as may be declared by the Board of Directors out of funds legally available for dividend payments. If we liquidate, dissolve, or wind up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities and liquidation preferences of any outstanding shares of preferred stock. Holders of common stock have no pre-emptive rights or rights to convert their common stock into any other securities. There are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future.

Our board of directors has the authority to (i) issue the undesignated preferred stock in one or more series, (ii) determine the powers, preferences and rights and the qualifications, limitations or restrictions granted to or imposed upon any wholly un-issued series of undesignated preferred stock and (iii) fix the number of shares constituting any series and the designation of the series, without any further vote or action by our stockholders.

Shares issued in Navilyst Acquisition

On May 22, 2012, a portion of the acquisition and related transaction costs of the Navilyst acquisition were financed through the issuance of approximately 9.5 million shares to investment funds affiliated with Avista Capital Partners, former owners of Navilyst, and as of May 31, 2013 they hold approximately 27% of our outstanding shares.

Share Repurchase Program

On October 5, 2011, our Board of Directors authorized the repurchase of up to $20 million of our common stock, prior to May 31, 2012. During the fiscal year ended May 31, 2012, we purchased 142,305 shares at a cost of approximately $2.1 million. This repurchase program was not in effect during fiscal 2013.

2. Stock Options

We have two stock-based compensation plans. These plans provide for the issuance of up to approximately 5.8 million shares of common stock.

1997 Stock Option Plan

In 1997, we adopted a Stock Option Plan (the “1997 Plan”). The 1997 Plan provided for the grant to key employees of both nonqualified stock options and incentive stock options and to members of the Board of Directors and consultants of nonqualified stock options. A total of 1,497,674 shares of our common stock were available to be issued under the 1997 Plan pursuant to the exercise of options. All stock options were to have an exercise price of not less than the fair market value of the shares on the date of grant. Options are exercisable over a period of time to be designated by the administrators of the 1997 Plan (but not more than 10 years from the date of grant) and are subject to such other terms and conditions as the administrators may determine. The vesting schedule is subject to the discretion of our Board of Directors. Options are exercisable immediately upon vesting. In addition, all options, whether vested or not, become exercisable in full immediately upon a change of control, as defined under the 1997 Plan. The 1997 Plan terminated in March 2007 and as such, no further options will be granted under this plan.

2004 Stock and Incentive Award Plan

The 2004 Stock and Incentive Award Plan (the “2004 Plan”) provides for the grant of incentive options to our employees and for the grant of non-statutory stock options, restricted stock, stock appreciation rights, performance units, performance shares and other incentive awards to our employees, directors and other service providers. A total of 5,750,000 shares of our common stock have been reserved for issuance under the 2004 Plan, of which up to 800,000 shares may be issued upon the exercise of incentive stock options. The compensation committee of the Board of Directors administers the 2004 Plan. The committee determines vesting terms and the exercise price of options granted under the 2004 Plan, but for all incentive stock options the exercise price must at least be equal to the fair market value of our common stock on the date of grant. The term of an incentive stock option may not exceed ten years.

On October 5, 2011, we amended the 2004 Stock and Incentive Award Plan to increase the maximum number of shares of our common stock with respect to which stock options may be granted during any calendar year to one employee from 200,000 shares to 500,000 shares.

Stock Option Activity:

The following schedule summarizes our stock option activity as of and for the years ended May 31, 2013, May 31, 2012 and May 31, 2011:


	2013									2012					2011
	Shares			Weighted- average exercise price		Weighted average remaining contractual life		Aggregate intrinsic value (in thousands)		Shares			Weighted- average exercise price		Shares			Weighted- average exercise price
Outstanding at beginning of year		2,985,192		$	15.69						2,680,390		$	15.96		2,624,114		$	16.22
Granted		406,700		$	11.40						1,434,000		$	13.70		503,000		$	15.37
Exercised		(16,835	)	$	11.15						(193,684	)	$	14.22		(106,858	)	$	15.89
Forfeited		(589,787	)	$	17.45						(917,126	)	$	14.22		(335,300	)	$	17.94
Expired		(16,342	)	$	15.69						(18,388	)	$	24.44		(4,566	)	$	48.51

Outstanding at end of year		2,768,928		$	14.84		4.56	$	19,524		2,985,192		$	15.69		2,680,390		$	15.96

Options exercisable at year-end		1,601,028		$	16.12		4.54	$	13,384		1,678,559		$	17.01		1,637,945		$	16.76

Options expected to vest in future periods		1,069,119		$	13.31		5.55	$	5,607		1,075,473		$	14.19		830,552		$	15.25

Weighted average fair value of options granted during the fiscal years ended May 31, is as follows:


	2013		2012		2011
Weighted-average fair value of options granted during the year	$	4.19	$	5.62	$	6.83

On May 31, 2013, there remained approximately 2.0 million shares available for granting of options under the 2004 Plan. Options are exercisable into common stock.

All of our options were granted at exercise prices equal to the quoted market price of our common stock at the date of the grants. Options under these grants vest 25% per year over four years for employees and 100% after one year for consultants. Initial grants to directors vest 25% per year over four years and subsequent grants to directors vest 33 1/3 % per year over three years. Options granted prior to May 1, 2007 expire on the tenth anniversary of the grant date. Options granted on or after May 1, 2007, expire on the seventh anniversary of the grant date. The total intrinsic value of options exercised was $0.1 million, $2.2 million, and $1.3 million for the years ended May 31, 2013, May 31, 2012 and May 31, 2011, respectively. We generally issue authorized but unissued shares upon stock option exercises and the settlement of performance share awards and restricted stock units.

The fair value of the options granted under the 1997 and 2004 Plans was estimated at the date of grant using the Black-Scholes option-pricing model assuming no expected dividends and the following weighted-average assumptions:


	2013			2012			2011
Expected stock price volatility		43.91	%		49.06	%		52.39	%
Risk-free interest rate		0.62	%		0.70	%		1.33	%
Expected life of options		4.62 years			4.59 years			4.63 years

The following information applies to options outstanding at May 31, 2013:


Range of exercise prices	Number outstanding		Weighted- average remaining life in years		Weighted- average exercise price		Number Exercisable		Weighted- average exercise price
$ 6.52 - $11.93		286,756		4.94	$	10.57		71,056	$	10.52
$12.06 - $12.97		364,361		5.85		12.40		85,361		12.47
$13.18 - $13.85		465,931		4.24		13.36		265,642		13.36
$13.92 - $14.31		430,000		5.21		13.95		119,167		13.98
$14.48 - $15.57		372,566		3.03		15.32		288,566		15.27
$15.75 - $16.58		370,564		3.45		16.13		292,486		16.19
$16.75 - $19.94		285,580		2.02		18.19		285,580		18.19
$20.06 - $31.33		193,170		2.11		23.05		193,170		23.05

		2,768,928		4.56	$	14.84		1,601,028	$	16.12

3. Performance Share and Restricted Stock Unit Awards

We grant restricted stock units and performance share awards to certain employees under the 2004 Plan. The performance criteria is established by the compensation committee for vesting of the performance share awards and may include factors such as the achievement of certain sales, operating income and earnings per share (“EPS”) goals. Performance share awards are subject to additional conditions, including the recipient’s continued employment with us. The restricted stock unit awards vest in equal annual installments over the term of the grants. Unvested restricted stock unit awards will be forfeited if the recipient ceases to be employed by us, competes with our business or otherwise engages in activities detrimental to our business before such date. The performance share awards and restricted stock units settle in shares of our common stock on a one-for-one basis.

We value performance share and restricted stock unit awards based on the closing trading value of our shares on the date of grant. We recognize the compensation cost related to our non-vested stock awards ratably over the requisite service period, or over the performance period when performance award metrics are expected to be achieved, which is consistent with the treatment prior to the adoption of authoritative guidance on share based payment awards.


	Non-Vested Stock Award Units			Weighted Average Grant-Date Fair Value
Balance as of May 31, 2012		353,895		$	14.12
Granted		313,247			10.79
Cancelled		(73,479	)		12.73
Vested		(111,019	)		14.24

Balance as of May 31, 2013		482,644			12.14

The total fair value of restricted stock awards vesting was $1.2 million, $0.9 million, and $1.1 million for the years ended May 31, 2013, May 31, 2012 and May 31, 2011, respectively.

4. Unrecognized Compensation Cost:

Under the provisions of authoritative guidance on share based payment awards, we expect to recognize the following future expense for awards outstanding as of May 31, 2013 ($ in thousands):


	Unrecognized Compensation Cost		Weighted Average Remaining Vesting Period (in years)
Stock Options	$	4,596		2.39
Non-vested stock awards		4,091		2.54

	$	8,687		2.45

Unrecognized compensation cost for stock options is presented net of 12% assumed annual forfeitures.

5. Employee Stock Purchase Plan

The Employee Stock Purchase Plan (the “Stock Purchase Plan”) provides a means by which our employees (the “participants”) are given an opportunity to purchase our common stock through payroll deductions. The maximum number of shares to be offered under the Stock Purchase Plan is 1,200,000 shares of our common stock, subject to any increase authorized by the Board of Directors. Shares are offered through two purchase periods, each with duration of approximately 6 months, commencing on the first business day of the first and third fiscal quarters. An employee is eligible to participate in an offering period if, on the first day of an offering period, he or she has been employed in a full-time capacity for at least six months, with a customary working schedule of 20 or more hours per week and more than five months in a calendar year. Employees who own stock possessing 5% or more of the total combined voting power or value of all classes of our stock are not eligible to participate in the Stock Purchase Plan. The purchase price of the shares of common stock acquired on each purchase date will be the lower of (i) 85% of the fair market value of a share of common stock on the first day of the offering period or (ii) 85% of the fair market value of a share of common stock on the last day of the purchase period, subject to adjustments made by the Board of Directors. The Stock Purchase Plan is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code.

We use the Black-Scholes option-pricing model to calculate the purchase date fair value of the shares issued under the Stock Purchase Plan and recognize expense related to shares purchased ratably over the offering period.

For the years ended May 31, 2013, May 31, 2012 and May 31, 2011, 123,556, 103,362 and 84,927 shares, respectively, were issued at an average price of $9.80, $11.62 and $13.01, respectively, under the Stock Purchase Plan. As of May 31, 2013, 570,170 shares remained available for future purchases under the Stock Purchase Plan.

For fiscal 2013, stock based compensation was $4.6 million pre-tax ($3.1 million after tax). For fiscal 2012, stock based compensation was $4.1 million pre-tax ($2.7 million after tax). For fiscal 2011, stock based compensation was $4.6 million pre-tax ($2.9 million after tax).

The following table summarizes stock-based compensation in accordance with authoritative guidance on share based payment awards for the years ended May 31, 2013, May 31, 2012 and May 31, 2011, which was allocated as follows:


	May 31, 2013		May 31, 2012		May 31, 2011
	(In thousands)
Cost of sales	$	271	$	268	$	227

Research and development		399		738		702
Sales and marketing		1,610		1,340		1,439
General and administrative		2,329		1,744		2,241

Stock based compensation expense included in operating expenses		4,338		3,822		4,382

Total stock based compensation		4,609		4,090		4,609
Tax benefit		1,540		1,386		1,677

Stock based compensation expense, net of tax	$	3,069	$	2,704	$	2,932

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Research Bulletin (ARB)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
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+ Details

Commitments and Contingencies

12 Months Ended

May 31, 2013

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE N—COMMITMENTS AND CONTINGENCIES

Leases

We are committed under non-cancelable operating leases for facilities and equipment. During fiscal 2013, 2012 and 2011, aggregate rental costs under all operating leases were approximately $2.5 million, $3.1 million and $3.1 million, respectively. Future annual payments under non-cancelable operating leases in the aggregate, of which one includes an escalation clause, with initial remaining terms of more than one year at May 31, 2013, are summarized as follows (in thousands):


2014	$	2,132
2015		1,909
2016		1,373
2017		982
2018 +		2,594

	$	8,990

Litigation Matters

AngioDynamics v. biolitec

On January 2, 2008, we commenced an action in the United States District Court for the Northern District of New York entitled AngioDynamics, Inc. v. biolitec, Inc. In this action, we are seeking judgment against biolitec for defense and indemnification in two lawsuits which we previously settled. Our claims arise out of a Supply and Distribution Agreement (“SDA”) entered into with biolitec on April 1, 2002. On September 27, 2011, the U.S. District Court for the Northern District of New York granted key portions of our motion for summary judgment in our legal case against biolitec. The Court’s order was filed under seal. The Court also dismissed biolitec’s counterclaims against us. The court denied one portion of our summary judgment motion, which sought to recover additional costs from biolitec, leaving this for adjudication at trial. On November 8, 2012, the Court granted partial judgment to us in the amount of $23.2 million.

In October 2009, we commenced an action in the United States District Court for the District of Massachusetts entitled AngioDynamics, Inc. v. biolitec AG and Wolfgang Neuberger. The Complaint in this action was amended in March 2010. This action seeks to recover against biolitec, Inc.’s parent entities and CEO for tortiously interfering with biolitec, Inc.’s contractual obligation to defend and indemnify us, and also seeks to pierce the corporate veil of biolitec, Inc. and to invalidate certain alleged fraudulent transfers in order to hold biolitec, Inc.’s parent entities jointly and severally liable for the alleged breach of the SDA. This case is currently in the discovery phase. On September 13, 2012, the Massachusetts Court granted our request for a preliminary injunction prohibiting the downstream merger of biolitec AG with its Austrian subsidiary. On April 1, 2013, the U.S. Court of Appeals for the First Circuit affirmed the preliminary injunction.

We will continue to vigorously enforce our rights under the supply agreement with biolitec.

C.R. Bard, Inc. v. AngioDynamics, Inc.

On January 11, 2012, C.R. Bard, Inc. filed a suit in the United States District Court of Utah claiming certain of our implantable port products infringe on patents held by them. Bard is seeking unspecified damages and other relief. The Court denied Bard’s motion for pre-trial consolidation with separate actions it filed on the same day against Medical Components, Inc. and Smiths Medical ASD, Inc., but has asked for supplemental briefing on the issue of whether to conduct a common Markman hearing. We filed petitions for reexamination in the US Patent and Trademark Office which seek to invalidate all three patents asserted in the litigation. Our petitions have been granted and 40 of 41 patent claims have been rejected. The reexamination proceedings are on-going. The case has been stayed pending final resolution of the PTO process. We believe these claims are without merit and intend to defend them vigorously. We have not recorded an expense related to the outcome of this litigation because it is not yet possible to determine if a potential loss is probable nor reasonably estimable.

Cardinal Health v. Navilyst Medical, Inc.

On December 21, 2011, Cardinal Health Canada 204, Inc. (Cardinal Health) filed a demand for arbitration pursuant to the terms of the International Distributorship Agreement entered into as of November 1, 2008 between Navilyst and Cardinal Health. Cardinal Health claims that it is entitled to damages based on Navilyst’s decision to terminate the International Distributorship Agreement. The parties have entered into a written stipulation to stay the proceedings in this matter pending the outcome of a related litigation brought by Cardinal health against three of our current and former employees (all of whom are former employees of Cardinal Health) in the Ontario Superior Court of Justice (Cardinal Health Canada, Inc. vs. Alexander, Sohi & Campbell, Superior Court of Justice, Ontario, Canada, No. CV-11-440418 (the Ontario Litigation). If this matter proceeds following the stay, we intend to deny the allegations contained in the demand for arbitration and to advance counterclaims against Cardinal Health. Navilyst entered into a joint defense agreement with the defendants in the Ontario Litigation, pursuant to which Navilyst agreed, subject to certain conditions, to indemnify the defendants for all legal fees relating to the Ontario Litigation as well as any damages or cost awards arising out of the Ontario Litigation. While we intend to vigorously defend against these actions, each of these cases is in the preliminary stages and, as a result, the ultimate outcome of these cases and their potential financial impact are not determinable at this time.

Cirrex Systems LLC v. AngioDynamics, Inc.

On May 21, 2012, Cirrex Systems LLC filed a suit in the United States District Court of Georgia claiming that certain of our endovenous ablation products infringe a patent held by them. Cirrex was seeking unspecified damages and other relief. On October 3, 2012, we filed an answer denying infringement, asserting various affirmative defenses, and asserting counterclaims for a declaratory judgment of non-infringement and invalidity. On December 7, 2012, Cirrex voluntarily dismissed the suit.

Joseph Pierre v. AngioDynamics, Inc.

In July 2011, a former employee dual-filed a complaint with the New York State Division of Human Rights and the Equal Employment Opportunity Commission, entitled Joseph Pierre v. AngioDynamics, Inc. In this action, the former employee is alleging discrimination due to his status as an African-American, in light of him being reassigned to another project. At the conclusion of its investigation, the Division issued a finding of “no probable cause” on January 6, 2012 and dismissed the complaint. The complainant did not appeal the decision to preserve his New York Human Rights Law claims. On February 22, 2012, the Equal Employment Opportunity Commission issued its determination adopting the decision of the Division and dismissing the charge. The complainant filed a federal claim following the EEOC’s decision in the United States District Court for the Northern District of New York on May 21, 2012. This complaint makes the same allegations of discrimination, and alleges causes of action under Title VII of the Civil Rights Act and 42 U.S.C. 1981. We believe these claims are without merit and intend to defend them vigorously. We have not recorded an expense related to the outcome of this litigation because it is not yet possible to determine if a potential loss is probable nor reasonably estimable.

We are party to other legal actions that arise in the ordinary course of business. We believe that any liability resulting from any currently pending litigation will not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations, or cash flows.

Future Purchase Obligations

We have entered into commitments for future minimum inventory purchases related to several core products. Total future purchase obligations for fiscal years ending May 31 are as follows: $3.7 million in 2014, $0.4 million in 2015 and $0.4 million in 2017. There are no such obligations in fiscal 2016.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Publisher FASB
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-Name FASB Interpretation (FIN)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Segments and Geographic Information

12 Months Ended

May 31, 2013

Segments and Geographic Information [Abstract]

SEGMENTS AND GEOGRAPHIC INFORMATION

NOTE O—SEGMENTS AND GEOGRAPHIC INFORMATION

Segment information


	Twelve months ended
	May 31, 2013		May 31, 2012		May 31, 2011
Net Sales by Product Category
Peripheral Vascular	$	188,181	$	95,200	$	86,992
Access		106,690		63,857		62,530

Vascular		294,871		159,057		149,522

Oncology/Surgery		47,155		62,730		66,228

Total	$	342,026	$	221,787	$	215,750

Geographic information

Total sales for geographic areas are summarized below (in thousands):


	Year Ended
	May 31, 2013		May 31, 2012		May 31, 2011
Net sales by Geography
United States	$	274,836	$	188,187	$	188,879
International		67,190		33,600		26,871

Total	$	342,026	$	221,787	$	215,750

We market our products internationally through a direct sales force and independent distributors. The international distributors may also distribute competitive products under certain circumstances. The international distributors also play an important role in our clinical testing outside of the United States. The loss of any international distributor would not have a material adverse effect on our business if a new distributor, sales representative or other suitable sales organization could not be found on a timely basis. For fiscal years 2013, 2012 and 2011, International sales as a percentage of total net sales were 20%, 15% and 12%, respectively. Sales to any one country outside the U.S., as determined by shipment destination, did not comprise a material portion of our net sales in any of the last three fiscal years. 99% of our total assets are located within the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Quarterly Information (unaudited)

12 Months Ended

May 31, 2013

Quarterly Information [Abstract]

QUARTERLY INFORMATION (unaudited)

NOTE P—QUARTERLY INFORMATION (unaudited)

Quarterly results of operations during 2013 and 2012 are as follows:


	2013
	First quarter			Second quarter		Third quarter			Fourth quarter
	(in thousands, except per share data)
Net sales	$	83,406		$	87,007	$	81,571		$	90,042
Gross profit		39,459			44,088		41,201			44,241
Net income (loss)		(721	)		1,969		(992	)		(868	)
Earnings per common share
Basic		(0.02	)		0.06		(0.03	)		(0.03	)
Diluted		(0.02	)		0.06		(0.03	)		(0.03	)


	2012
	First quarter		Second quarter		Third quarter			Fourth quarter
	(in thousands, except per share data)
Net sales	$	54,431	$	58,099	$	51,567		$	57,690
Gross profit		32,146		33,231		29,414			31,168
Net income (loss)		1,373		2,329		(1,768	)		(7,028	)
Earnings per common share
Basic		0.05		0.09		(0.07	)		(0.27	)
Diluted		0.05		0.09		(0.07	)		(0.27	)

The data in the schedules above has been intentionally rounded to the nearest thousand and therefore the quarterly amounts may not sum to the fiscal year to date amounts.

The first quarter results for fiscal 2013 included in “Acquisition, restructuring and other items, net”, $2.2 million in transaction and related costs of the Navilyst acquisition and $337 thousand in costs associated with the decision to close our UK facility. The 2013 second quarter results included $1.7 million for Navilyst transaction costs, $476 thousand for the UK closure costs, $425 thousand in litigation costs and $325 thousand in costs related to the Vortex acquisition, offset by $770 thousand gain on sale of a product line. The 2013 third quarter results included $1.6 million in costs related to the discontinuance of a product line, $1.3 million in Navilyst transaction costs, $920 thousand for the UK closure costs, $901 thousand in litigation costs and $414 thousand in transaction costs of the Vortex and Microsulis acquisitions. The 2013 fourth quarter results included $2.1 million for Navilyst transaction costs, $717 thousand in UK closure costs, and $580 thousand in litigation costs.

The fourth quarter results for fiscal 2012 included in “Acquisition, restructuring and other items, net”, $16.2 million of expenses primarily comprised of $11.2 million in transaction and related costs of the Navilyst acquisition, $2.3 million in costs for CEO and executive transitions, $1.8 million in costs associated with the decision to close our UK facility, $600 thousand in costs related to the Microsulis arrangement and $465 thousand related to C.R. Bard patent litigation.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Valuation and Qualifying Accounts

12 Months Ended

May 31, 2013

Valuation and Qualifying Accounts [Abstract]

VALUATION AND QUALIFYING ACCOUNTS

AngioDynamics, Inc. and Subsidiaries


	SCHEDULE II -VALUATION AND QUALIFYING ACCOUNTS
	(in thousands)
Column A	Column B		Column C		Column D				Column E
Description	Balance at Beginning of Period		Additions - Charged to costs and expenses		Deductions- describe				Balance at End of Period
Year Ended May 31, 2011
Allowance for deferred tax asset		1,162		27		(55	)			1,134
Allowance for sales returns and doubtful accounts		558		4,202		(4,275	)	(a)		485

Totals	$	1,720	$	4,229	$	(4,330	)		$	1,619

Year Ended May 31, 2012
Allowance for deferred tax asset		1,134		208		(146	)			1,196
Allowance for sales returns and doubtful accounts		485		4,859		(4,411	)	(a)		933

Totals	$	1,619	$	5,067	$	(4,557	)		$	2,129

Year Ended May 31, 2013
Allowance for deferred tax asset		1,196		—		(484	)	(b)		712
Allowance for sales returns and doubtful accounts		933		4,134		(3,795	)	(a)		1,272

Totals	$	2,129	$	4,134	$	(4,279	)		$	1,984

(a)	Previously reserved sales returns and accounts written off as uncollectible.

(b)	Use of fully reserved capital losses and expiration of fully reserved state tax credits.

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Policies)

12 Months Ended

May 31, 2013

Basis of Presentation, Business Description and Summary of Significant Accounting Policies [Abstract]

Basis of Presentation and Description of Business

1. Basis of Presentation and Description of Business

We have performed an evaluation of subsequent events through the date the financial statements were issued.

Acquisition of Microsulis Medical Ltd.

Acquisition of Vortex Medical Inc.

Acquisition of Navilyst

See Note B for further discussion of acquisitions.

Regulatory Matters

On November 28, 2012, FDA completed an inspection of our Manchester, GA facility and no Form 483 observations were issued.

Discontinuance of Benephit Product Offering

Closure of UK facility

Fiscal Year

2. Fiscal Year

We report on a fiscal year ending May 31.

Cash and Cash Equivalents

3. Cash and Cash Equivalents

Marketable Securities

4. Marketable Securities

Accounts Receivable

5. Accounts Receivable

Inventories

6. Inventories

Property, Plant and Equipment

7. Property, Plant and Equipment

Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

Revenue Recognition

9. Revenue Recognition

Research and Development

10. Research and Development

Shipping and Handling Costs

11. Shipping and Handling Costs

Income Taxes

12. Income Taxes

Fair Value of Financial Instruments

13. Fair Value of Financial Instruments

Level 1

Level 2

Level 3

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2013
Financial Assets
Cash equivalents
Money market funds	$	114	$	—	$	—	$	114

Total	$	114	$	—	$	—	$	114
Marketable securities
Corporate bond securities	$	—	$	303	$	—		303
U.S. government agency obligations		—		—		1,850		1,850

Total		—		303		1,850		2,153

Total Financial Assets	$	114	$	303	$	1,850	$	2,267

Financial Liabilities
Interest rate swap agreements	$	—	$	522	$	—	$	522
Contingent liability for acquisition earn out		—		—		75,049	$	75,049

Total Financial Liabilities	$	—	$	522	$	75,049	$	75,571


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2012
Financial Assets
Cash equivalents
Money market funds	$	4,762	$	—	$	—	$	4,762

Total	$	4,762	$	—	$	—	$	4,762
Marketable securities
Corporate bond securities	$	—	$	6,371	$	—		6,371
U.S. government agency obligations		—		5,849		1,850		7,699

Total		—		12,220		1,850		14,070

Total Financial Assets	$	4,762	$	12,220	$	1,850	$	18,832

At May 31, 2012, there were no financial liabilities measured at fair value since the interest rate swap arrangements were paid off during May 2012.

The components of Level 3 fair value instruments as of May 31, 2013 are shown below (in thousands):


	Financial Assets		Financial Liabilities
	Fair Value Measurements Using Significant Unobservable Inputs		Fair Value Measurements Using Significant Unobservable Inputs
	(Level 3)
Balance, May 31, 2012	$	1,850	$	—
Total gains or losses (realized/unrealized):		—		—
Included in earnings		—		1,583
Included in other comprehensive income		—		—
Purchases, issuances and settlements		—		—
Transfers in and/or (out) of Level 3		—		—
Contingent liability for acquisition earn out		—		73,466

Balance, May 31, 2013	$	1,850	$	75,049

Contingent Liability for Acquisition Earn Outs


	Fair value at May 31, 2013		Valuation Technique	Unobservable Input	Range
Revenue based payments	$	75.0	Discounted	Discount rate	4%
			cash flow	Probability of payment	75-100%
				Projected fiscal year of payment	2014 -2022


Beginning balance—May 31, 2012	$	—
Purchase price contingent consideration		73.4
Contingent payments		—
Change in fair value of contingent consideration		1.6

Ending balance—May 31, 2013	$	75.0

Derivative Financial Instruments

15. Derivative Financial Instruments

Stock-Based Compensation

16. Stock-Based Compensation

Earnings Per Common Share

17. Earnings Per Common Share

The following table sets forth the reconciliation of the weighted-average number of common shares:


	2013		2012		2011
Basic		34,817,279		25,382,293		24,870,005
Effect of dilutive securities		—		—		262,758

Diluted		34,817,279		25,382,293		25,132,763

Use of Estimates

18. Use of Estimates

Supplier Concentrations

19. Supplier Concentrations

Recently Issued Accounting Pronouncements

20. Recently Issued Accounting Pronouncements

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2013

Basis of Presentation, Business Description and Summary of Significant Accounting Policies [Abstract]

Fair value of assets and liabilities measured on recurring basis

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2013
Financial Assets
Cash equivalents
Money market funds	$	114	$	—	$	—	$	114

Total	$	114	$	—	$	—	$	114
Marketable securities
Corporate bond securities	$	—	$	303	$	—		303
U.S. government agency obligations		—		—		1,850		1,850

Total		—		303		1,850		2,153

Total Financial Assets	$	114	$	303	$	1,850	$	2,267

Financial Liabilities
Interest rate swap agreements	$	—	$	522	$	—	$	522
Contingent liability for acquisition earn out		—		—		75,049	$	75,049

Total Financial Liabilities	$	—	$	522	$	75,049	$	75,571


	Fair Value Measurements using inputs considered as:
	Level 1		Level 2		Level 3		Fair Value at May 31, 2012
Financial Assets
Cash equivalents
Money market funds	$	4,762	$	—	$	—	$	4,762

Total	$	4,762	$	—	$	—	$	4,762
Marketable securities
Corporate bond securities	$	—	$	6,371	$	—		6,371
U.S. government agency obligations		—		5,849		1,850		7,699

Total		—		12,220		1,850		14,070

Total Financial Assets	$	4,762	$	12,220	$	1,850	$	18,832

Fair value measurements using significant unobservable inputs

The components of Level 3 fair value instruments as of May 31, 2013 are shown below (in thousands):


	Financial Assets		Financial Liabilities
	Fair Value Measurements Using Significant Unobservable Inputs		Fair Value Measurements Using Significant Unobservable Inputs
	(Level 3)
Balance, May 31, 2012	$	1,850	$	—
Total gains or losses (realized/unrealized):		—		—
Included in earnings		—		1,583
Included in other comprehensive income		—		—
Purchases, issuances and settlements		—		—
Transfers in and/or (out) of Level 3		—		—
Contingent liability for acquisition earn out		—		73,466

Balance, May 31, 2013	$	1,850	$	75,049

Summary showing the recurring fair value measurements of the contingent consideration liability


	Fair value at May 31, 2013		Valuation Technique	Unobservable Input	Range
Revenue based payments	$	75.0	Discounted	Discount rate	4%
			cash flow	Probability of payment	75-100%
				Projected fiscal year of payment	2014 -2022

Summary showing reconciliation of the contingent payments

The following table provides a reconciliation of the beginning and ending balances of contingent milestone payments associated with the Vortex and Microsulis acquisitions measured at fair value that used significant unobservable inputs (Level 3) (in millions):


Beginning balance—May 31, 2012	$	—
Purchase price contingent consideration		73.4
Contingent payments		—
Change in fair value of contingent consideration		1.6

Ending balance—May 31, 2013	$	75.0

Reconciliation of the weighted-average number of common shares

The following table sets forth the reconciliation of the weighted-average number of common shares:


	2013		2012		2011
Basic		34,817,279		25,382,293		24,870,005
Effect of dilutive securities		—		—		262,758

Diluted		34,817,279		25,382,293		25,132,763

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details

Acquisitions (Tables)

12 Months Ended

May 31, 2013

Business Acquisition [Line Items]

Supplemental unaudited pro forma information

The following supplemental unaudited pro forma information presents our financial results as if the acquisition of Navilyst had occurred on June 1, 2010 (in thousands):


	For the years ended May 31,
	2012		2011
	(unaudited)
Net sales	$	365,357	$	369,381

Net income (loss)	$	3,897	$	(2,786	)

Microsulis Medical Ltd [Member]

Business Acquisition [Line Items]

Summary of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed (in thousands):


Accounts receivable	$	364
Inventories		687
Other current assets		443
Fixed assets		1,906
Intangibles		12,500
Goodwill		19,284

Total assets acquired		35,184
Liabilities assumed		(1,634	)

Total purchase price	$	33,550

Cash payment at closing	$	10,566
Cash payment for initial investment		5,000
Present value of deferred payment		4,820
Present value of contingent consideration liability		13,164

Total purchase price	$	33,550

Vortex Medical [Member]

Business Acquisition [Line Items]

Summary of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed (in thousands):


Cash and cash equivalents	$	339
Accounts receivable		203
Inventories		488
Other assets		7
Deferred tax assets		1,307
Intangibles		72,430
Goodwill		29,519

Total assets acquired		104,293
Deferred tax liabilities		(28,340	)
Liabilities assumed		(661	)

Total purchase price	$	75,292

Cash payments at closing	$	15,105
Present value of contingent consideration liability		60,302
Working capital adjustment		(115	)

Total purchase price	$	75,292

Navilyst [Member]

Business Acquisition [Line Items]

Summary of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed (in thousands):


	May 22, 2012
Cash and cash equivalents	$	7,683
Accounts receivable		19,069
Inventories		26,851
Prepaid expenses and other current assets		5,504
Property, plant and equipment		34,017
Deferred tax assets		34,209
Goodwill		144,705
Intangibles		107,100
Other long-term assets		497

Total assets acquired		379,635
Liabilties assumed		(18,287	)

Total net assets acquired	$	361,348

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Marketable Securities and Investments (Tables)

12 Months Ended

May 31, 2013

Marketable Securities and Investments [Abstract]

Marketable securities

Marketable securities as of May 31, 2013 consisted of the following:


	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	1,850	$	—	$	—	$	1,850
Corporate bond securities		303		—		—		303

	$	2,153	$	—	$	—	$	2,153

Marketable securities as of May 31, 2012 consisted of the following:


	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	7,739	$	5	$	(45	)	$	7,699
Corporate bond securities		6,516		10		(155	)		6,371

	$	14,255	$	15	$	(200	)	$	14,070

Amortized cost and fair value of marketable securities by contractual maturity

The amortized cost and fair value of marketable securities at May 31, 2013, by contractual maturity, are shown below.


	Amortized cost		Fair Value
	(in thousands)
As of May 31, 2013:
Due in one year or less	$	—	$	—
Due after one through five years		303		303
Due after five through twenty years		1,850		1,850

	$	2,153	$	2,153

Inventories (Tables)

12 Months Ended

May 31, 2013

Inventories [Abstract]

Inventories

Inventories consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Raw materials	$	18,362	$	18,984
Work in process		11,006		9,504
Finished goods		25,694		27,335

Inventories	$	55,062	$	55,823

Prepaid Expenses and Other (Tables)

12 Months Ended

May 31, 2013

Prepaid Expenses and Other/Prepaid Royalties [Abstract]

Prepaid expenses and other

Prepaid expenses and other consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Deposits	$	4,029	$	3,187
Income and other taxes		1,021		3,206
Licensee fees		809		364
Software licenses		520		407
Trade shows		487		660
Rent		135		107
Insurance		120		343
Interest receivable		2		100
Other		994		1,452

Total	$	8,117	$	9,826

Property, Plant and Equipment, at Cost (Tables)

12 Months Ended

May 31, 2013

Property, Plant and Equipment, at Cost [Abstract]

Property, plant and equipment

Property, plant and equipment are summarized as follows:


	May 31, 2013			May 31, 2012			Estimated useful lives
	(in thousands)
Building and building improvements	$	30,150		$	29,743		39 years
Machinery and equipment		31,129			27,618		3 to 8 years
Computer software and equipment		16,390			16,501		3 to 5 years
Construction in progress		13,373			3,454

		91,042			77,316
Less accumulated depreciation and amortization		(29,421	)		(22,430	)

		61,621			54,886
Land and land improvements		1,029			1,029

	$	62,650		$	55,915

Goodwill and Intangible Assets (Tables)

12 Months Ended

May 31, 2013

Goodwill and Intangible Assets [Abstract]

Adjustments to goodwill

Adjustments to goodwill for the fiscal year ended May 31, 2013 and May 31, 2012 are as follows (in thousands):


	Total
Balance, May 31, 2011	$	161,951
Goodwill recognized from Navilyst business combination		146,961

Balance, May 31, 2012	$	308,912

Goodwill recognized from Vortex business combination		29,519
Goodwill recognized from Microsulis asset acquisition		19,284
Adjustments to Navilyst purchase price allocation		(2,257	)

Balance, May 31, 2013	$	355,458

Intangible assets

The balances of intangible assets are as follows:


	May 31, 2013
	Gross carrying value		Accumulated amortization			Net carrying value		Weighted avg useful life
	(in thousands)							(years)
Product technologies	$	150,181	$	(24,835	)	$	125,346		10.6
Customer relationships		84,479		(30,595	)		53,884		14.8
Trademark—NAMIC		28,600		—			28,600		Indefinite
Licenses		6,302		(4,501	)		1,801		9.0
Trademarks		6,275		(1,058	)		5,217		9.9
Distributor relationships		900		(900	)		—		3.0

	$	276,737	$	(61,889	)	$	214,848


	May 31, 2012
	Gross carrying value		Accumulated amortization			Net carrying value		Weighted avg useful life
	(in thousands)							(years)
Customer relationships	$	82,205	$	(22,123	)	$	60,082		11.7
Product technologies		55,540		(18,839	)		36,701		11.3
Trademark—NAMIC		28,600		—			28,600		Indefinite
In process R&D Acquired		15,042		—			15,042		Indefinite
Licenses		6,152		(3,711	)		2,441		9.1
Trademarks		4,575		(375	)		4,200		7.3
Distributor relationships		1,140		(940	)		200		2.6

	$	193,254	$	(45,988	)	$	147,266

Expected amortization expense

Annual amortization of these intangible assets is expected to approximate the following amounts for each of the next five fiscal years (in thousands):


2014	$	15,198
2015		14,391
2016		15,498
2017		16,318
2018		17,523

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References + Details

Income Taxes (Tables)

12 Months Ended

May 31, 2013

Income Taxes [Abstract]

Components of income (loss) before income tax provision

The components of income (loss) before income tax provision for the years ended May 31 are as follows:


	2013			2012			2011
	(in thousands)
(Loss) income before tax provision:
US	$	(2,670	)	$	(5,151	)	$	10,076
Non-US		2,027			(131	)		622

	$	(643	)	$	(5,282	)	$	10,698

Summary of Income tax (benefit) provision analyzed by category

Income tax (benefit) provision analyzed by category and by statement of operations classification for the years ended May 31 is summarized as follows:


	2013			2012			2011
	(in thousands)
Current
Federal	$	(1,622	)	$	448		$	3,030
State and local		(52	)		(19	)		323
Non U.S.		468			18			142

		(1,206	)		447			3,495
Deferred		1,175			(635	)		(914	)

	$	(31	)	$	(188	)	$	2,581

Summary of significant components of deferred income tax (benefit) expense from operations

The significant components of deferred income tax (benefit) expense from operations for the years ended May 31 consist of the following:


	2013		2012			2011
	(in thousands)
Deferred tax benefit	$	1,175	$	(1,722	)	$	(4,092	)
Net operating loss carryforward		—		1,087			3,178

	$	1,175	$	(635	)	$	(914	)

Summary of deferred tax asset and liabilities

Temporary differences that give rise to deferred tax assets and liabilities are summarized as follows:


	May 31, 2013			May 31, 2012
	(in thousands)
Deferred tax assets
Net operating loss carryforward	$	47,098		$	45,707
Stock-based compensation		4,813			5,394
Federal and state R&D tax credit carryforward		490			629
Inventories		1,713			95
State tax credits		1,326			1,929
Expenses incurred not currently deductible		880			1,780
Capital loss carryforwards		95			371
Deferred revenue		1,147			1,256

Gross deferred tax asset		57,562			57,161

Deferred tax liabilities
Excess tax over book depreciation and amortization		39,252			11,820
Impairment of long-lived assets		—			24

		39,252			11,844
Valuation Allowance		(712	)		(1,196	)

Net deferred tax asset	$	17,598		$	44,121

Summary of Income tax rate reconciliation


	2013			2012			2011
	(in thousands)
Income tax (benefit) provision	$	(31	)	$	(188	)	$	2,581
Effect of Graduated tax rates		(6	)		(53	)		107
State income taxes, net of Federal tax benefit		(88	)		(158	)		99
State income tax credits, net of Federal tax benefit		23			69			300
Impact of Non US operations		228			(46	)		65
Tax-exempt interest		2			4			5
Research and development tax credit		142			115			549
Domestic Production Activities deduction		—			71			471
Nondeductible acquisition costs		(110	)		(1,144	)		—
Nondeductible interest on contingent payments		(130	)		—			—
Nondeductible stock-based compensation		(108	)		(125	)		(119	)
Other nondeductible expenses		(336	)		(336	)		(323	)
Overaccrual (underaccrual) of prior year Federal and state taxes		10			138			49
Fully reserved capital losses		179			(208	)		(19	)
Other		—			12			(21	)

Income tax (benefit) provision at statutory tax rate of 35%	$	(225	)	$	(1,849	)	$	3,744

Accrued Liabilities (Tables)

12 Months Ended

May 31, 2013

Accrued Liabilities [Abstract]

Accrued liabilities

Accrued liabilities consist of the following:


	May 31, 2013		May 31, 2012
	(in thousands)
Payroll and related expenses	$	6,491	$	5,674
Royalties		2,034		2,258
Accrued severance		1,602		2,087
Deferred revenue		1,573		3,138
Sales and franchise taxes		1,047		1,092
Interest rate swap liability		523		—
Other		3,156		4,473

Total	$	16,426	$	18,722

Long-Term Debt (Tables)

12 Months Ended

May 31, 2013

Long-Term Debt [Abstract]

Summary of long-term debt

Following is a summary of long-term debt (in thousands):


	May 31, 2013			May 31, 2012
Bank Notes	$	142,500		$	150,000
Less: current maturities		(7,500	)		(7,500	)

Long-term debt	$	135,000		$	142,500

Future minimum principal payments on long-term debt

At May 31, 2013, future minimum principal payments on long-term debt were as follows (in thousands):


2014	$	7,500
2015		22,500
2016		37,500
2017		75,000

	$	142,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Stockholders Equity (Tables)

12 Months Ended

May 31, 2013

Stockholders' Equity [Abstract]

Schedule summarizes stock option activity

The following schedule summarizes our stock option activity as of and for the years ended May 31, 2013, May 31, 2012 and May 31, 2011:


	2013									2012					2011
	Shares			Weighted- average exercise price		Weighted average remaining contractual life		Aggregate intrinsic value (in thousands)		Shares			Weighted- average exercise price		Shares			Weighted- average exercise price
Outstanding at beginning of year		2,985,192		$	15.69						2,680,390		$	15.96		2,624,114		$	16.22
Granted		406,700		$	11.40						1,434,000		$	13.70		503,000		$	15.37
Exercised		(16,835	)	$	11.15						(193,684	)	$	14.22		(106,858	)	$	15.89
Forfeited		(589,787	)	$	17.45						(917,126	)	$	14.22		(335,300	)	$	17.94
Expired		(16,342	)	$	15.69						(18,388	)	$	24.44		(4,566	)	$	48.51

Outstanding at end of year		2,768,928		$	14.84		4.56	$	19,524		2,985,192		$	15.69		2,680,390		$	15.96

Options exercisable at year-end		1,601,028		$	16.12		4.54	$	13,384		1,678,559		$	17.01		1,637,945		$	16.76

Options expected to vest in future periods		1,069,119		$	13.31		5.55	$	5,607		1,075,473		$	14.19		830,552		$	15.25

Summary of weighted average fair value of options granted

Weighted average fair value of options granted during the fiscal years ended May 31, is as follows:


	2013		2012		2011
Weighted-average fair value of options granted during the year	$	4.19	$	5.62	$	6.83

Schedule of weighted-average fair value assumptions


	2013			2012			2011
Expected stock price volatility		43.91	%		49.06	%		52.39	%
Risk-free interest rate		0.62	%		0.70	%		1.33	%
Expected life of options		4.62 years			4.59 years			4.63 years

Summary of options outstanding

The following information applies to options outstanding at May 31, 2013:


Range of exercise prices	Number outstanding		Weighted- average remaining life in years		Weighted- average exercise price		Number Exercisable		Weighted- average exercise price
$ 6.52 - $11.93		286,756		4.94	$	10.57		71,056	$	10.52
$12.06 - $12.97		364,361		5.85		12.40		85,361		12.47
$13.18 - $13.85		465,931		4.24		13.36		265,642		13.36
$13.92 - $14.31		430,000		5.21		13.95		119,167		13.98
$14.48 - $15.57		372,566		3.03		15.32		288,566		15.27
$15.75 - $16.58		370,564		3.45		16.13		292,486		16.19
$16.75 - $19.94		285,580		2.02		18.19		285,580		18.19
$20.06 - $31.33		193,170		2.11		23.05		193,170		23.05

		2,768,928		4.56	$	14.84		1,601,028	$	16.12

Share based compensation arrangement by share based payment award nonvested shares and weighted average grant date fair value


	Non-Vested Stock Award Units			Weighted Average Grant-Date Fair Value
Balance as of May 31, 2012		353,895		$	14.12
Granted		313,247			10.79
Cancelled		(73,479	)		12.73
Vested		(111,019	)		14.24

Balance as of May 31, 2013		482,644			12.14

Summary of future expense for awards outstanding

Under the provisions of authoritative guidance on share based payment awards, we expect to recognize the following future expense for awards outstanding as of May 31, 2013 ($ in thousands):


	Unrecognized Compensation Cost		Weighted Average Remaining Vesting Period (in years)
Stock Options	$	4,596		2.39
Non-vested stock awards		4,091		2.54

	$	8,687		2.45

Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards


	May 31, 2013		May 31, 2012		May 31, 2011
	(In thousands)
Cost of sales	$	271	$	268	$	227

Research and development		399		738		702
Sales and marketing		1,610		1,340		1,439
General and administrative		2,329		1,744		2,241

Stock based compensation expense included in operating expenses		4,338		3,822		4,382

Total stock based compensation		4,609		4,090		4,609
Tax benefit		1,540		1,386		1,677

Stock based compensation expense, net of tax	$	3,069	$	2,704	$	2,932

Commitments And Contingencies (Tables)

12 Months Ended

May 31, 2013

Commitments and Contingencies [Abstract]

Aggregate of future annual payments under non cancelable operating leases for facilities and equipment

Future annual payments under non-cancelable operating leases in the aggregate, of which one includes an escalation clause, with initial remaining terms of more than one year at May 31, 2013, are summarized as follows (in thousands):


2014	$	2,132
2015		1,909
2016		1,373
2017		982
2018 +		2,594

	$	8,990

Segments and Geographic Information (Tables)

12 Months Ended

May 31, 2013

Segments and Geographic Information [Abstract]

Summary of total net sales by product category


	Twelve months ended
	May 31, 2013		May 31, 2012		May 31, 2011
Net Sales by Product Category
Peripheral Vascular	$	188,181	$	95,200	$	86,992
Access		106,690		63,857		62,530

Vascular		294,871		159,057		149,522

Oncology/Surgery		47,155		62,730		66,228

Total	$	342,026	$	221,787	$	215,750

Summary of net sales for geographic areas

Total sales for geographic areas are summarized below (in thousands):


	Year Ended
	May 31, 2013		May 31, 2012		May 31, 2011
Net sales by Geography
United States	$	274,836	$	188,187	$	188,879
International		67,190		33,600		26,871

Total	$	342,026	$	221,787	$	215,750

Quarterly Information (unaudited) (Tables)

12 Months Ended

May 31, 2013

Quarterly Information [Abstract]

Summary of Quarterly Financial Information

Quarterly results of operations during 2013 and 2012 are as follows:


	2013
	First quarter			Second quarter		Third quarter			Fourth quarter
	(in thousands, except per share data)
Net sales	$	83,406		$	87,007	$	81,571		$	90,042
Gross profit		39,459			44,088		41,201			44,241
Net income (loss)		(721	)		1,969		(992	)		(868	)
Earnings per common share
Basic		(0.02	)		0.06		(0.03	)		(0.03	)
Diluted		(0.02	)		0.06		(0.03	)		(0.03	)


	2012
	First quarter		Second quarter		Third quarter			Fourth quarter
	(in thousands, except per share data)
Net sales	$	54,431	$	58,099	$	51,567		$	57,690
Gross profit		32,146		33,231		29,414			31,168
Net income (loss)		1,373		2,329		(1,768	)		(7,028	)
Earnings per common share
Basic		0.05		0.09		(0.07	)		(0.27	)
Diluted		0.05		0.09		(0.07	)		(0.27	)

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details) - Recurring [Member] - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Financial Assets
Cash equivalents	$ 114	$ 4,762
Marketable securities	2,153	14,070
Total Financial Assets	2,267	18,832
Financial Liabilities
Total Financial Liabilities	75,571
Interest rate swap agreements [Member]
Financial Liabilities
Total Financial Liabilities	522
Contingent liability for acquisition earn out [Member]
Financial Liabilities
Total Financial Liabilities	75,049
Corporate bond securities [Member]
Financial Assets
Marketable securities	303	6,371
U.S. government agency obligations [Member]
Financial Assets
Marketable securities	1,850	7,699
Money market funds [Member]
Financial Assets
Cash equivalents	114	4,762
Level 1 [Member]
Financial Assets
Cash equivalents	114	4,762
Marketable securities
Total Financial Assets	114	4,762
Financial Liabilities
Total Financial Liabilities
Level 1 [Member] \| Interest rate swap agreements [Member]
Financial Liabilities
Total Financial Liabilities
Level 1 [Member] \| Contingent liability for acquisition earn out [Member]
Financial Liabilities
Total Financial Liabilities
Level 1 [Member] \| Corporate bond securities [Member]
Financial Assets
Marketable securities
Level 1 [Member] \| U.S. government agency obligations [Member]
Financial Assets
Marketable securities
Level 1 [Member] \| Money market funds [Member]
Financial Assets
Cash equivalents	114	4,762
Level 2 [Member]
Financial Assets
Cash equivalents
Marketable securities	303	12,220
Total Financial Assets	303	12,220
Financial Liabilities
Total Financial Liabilities	522
Level 2 [Member] \| Interest rate swap agreements [Member]
Financial Liabilities
Total Financial Liabilities	522
Level 2 [Member] \| Contingent liability for acquisition earn out [Member]
Financial Liabilities
Total Financial Liabilities
Level 2 [Member] \| Corporate bond securities [Member]
Financial Assets
Marketable securities	303	6,371
Level 2 [Member] \| U.S. government agency obligations [Member]
Financial Assets
Marketable securities		5,849
Level 2 [Member] \| Money market funds [Member]
Financial Assets
Cash equivalents
Level 3 [Member]
Financial Assets
Cash equivalents
Marketable securities	1,850	1,850
Total Financial Assets	1,850	1,850
Financial Liabilities
Total Financial Liabilities	75,049
Level 3 [Member] \| Interest rate swap agreements [Member]
Financial Liabilities
Total Financial Liabilities
Level 3 [Member] \| Contingent liability for acquisition earn out [Member]
Financial Liabilities
Total Financial Liabilities	75,049
Level 3 [Member] \| Corporate bond securities [Member]
Financial Assets
Marketable securities
Level 3 [Member] \| U.S. government agency obligations [Member]
Financial Assets
Marketable securities	1,850	$ 1,850
Level 3 [Member] \| Money market funds [Member]
Financial Assets
Cash equivalents

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details 1) $ in Thousands	12 Months Ended
	May 31, 2013 USD ($)
Fair Value Measurements using Significant Unobservable Inputs
Balance, May 31, 2012, Financial Assets	$ 1,850
Balance, May 31, 2012, Financial Liabilities
Total gains or losses (realized/unrealized):
Included in earnings, Financial Assets
Included in earnings, Financial Liabilities	1,583
Included in other comprehensive income, Financial Assets
Included in other comprehensive income, Financial Liabilities
Purchases, issuances and settlements, Financial Assets
Purchases, issuances and settlements, Financial Liabilities
Transfers in and/or (out) of Level 3, Financial Assets
Transfers in and/or (out) of Level 3, Financial Liabilities
Contingent liability for acquisition earn out, Financial Liabilities	73,466
Balance, May 31, 2013, Financial Assets	1,850
Balance, May 31, 2013, Financial Liabilities	$ 75,049

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012
Summary showing the recurring fair value measurements of the contingent consideration liability
Revenue based payments	$ 75,049
Level 3 [Member] \| Contingent Consideration Earn Out Liability [Member] \| Recurring [Member]
Summary showing the recurring fair value measurements of the contingent consideration liability
Revenue based payments	$ 75,000
Discount rate	4.00%
Level 3 [Member] \| Maximum [Member] \| Contingent Consideration Earn Out Liability [Member] \| Recurring [Member]
Summary showing the recurring fair value measurements of the contingent consideration liability
Probability of payment	100.00%
Projected fiscal year of payment	2022
Level 3 [Member] \| Minimum [Member] \| Contingent Consideration Earn Out Liability [Member] \| Recurring [Member]
Summary showing the recurring fair value measurements of the contingent consideration liability
Probability of payment	75.00%
Projected fiscal year of payment	2014

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details 3) - Contingent Consideration Earn Out Liability [Member] - Vortex and Microsulis Medical Ltd [Member] $ in Millions	12 Months Ended
	May 31, 2013 USD ($)
Summary showing reconciliation of the contingent payments
Beginning balance - May 31, 2012
Purchase price contingent consideration	73.4
Contingent payments
Change in fair value of contingent consideration	1.6
Ending balance - May 31, 2013	$ 75.0

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details 4) - shares	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Reconciliation of the weighted-average number of common shares
Basic	34,817,279	25,382,293	24,870,005
Effect of dilutive securities			262,758
Diluted	34,817,279	25,382,293	25,132,763

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Basis of Presentation, Business Description and Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, shares in Thousands	1 Months Ended					3 Months Ended				12 Months Ended
	Nov. 28, 2012 Observations	Sep. 24, 2012 Observations	May 22, 2012 USD ($) $ / shares shares	Feb. 13, 2012 Observations	Feb. 10, 2012 Observations	May 31, 2013 USD ($) Investment shares	Feb. 28, 2013 USD ($)	Nov. 30, 2012 USD ($)	May 31, 2012 USD ($) Investment	May 31, 2013 USD ($) ReportingUnit Investment IntangibleAssets Directors shares	May 31, 2012 USD ($) ReportingUnit Investment shares	May 31, 2011 USD ($) Investment shares	Feb. 01, 2013 USD ($)	Jun. 30, 2012
Business Acquisition [Line Items]
Senior secured term loan facility						$ 150,000,000				$ 150,000,000
Estimated net operating losses, prior to utilization						27,200,000				$ 27,200,000
Basis of Presentation Business Description and Summary of Significant Accounting Policies (Textual) [Abstract]
Number of reporting segments \| ReportingUnit										1	2
Purchase consideration placed in escrow						19,100,000				$ 19,100,000
Purchase consideration placed in escrow in cash						$ 14,000,000				$ 14,000,000
Purchase consideration placed in escrow as common stock \| shares						415				415
Cash from escrow fund							$ 2,500,000			$ 2,500,000
Escrow receivable									$ 2,500,000		$ 2,500,000
Costs for quality call to action program										$ 3,200,000
Number of observations \| Observations	0	5		6	12
Number of business days to provide response to FDA										15 days
Product offering discontinuance expense										$ 1,600,000
Estimated cost of project										4,300,000
Costs incurred associated with closure of facility						717,000	920,000	$ 476,000	1,800,000	$ 337,000	1,800,000
Unrestricted liquid investments maturity period										Less than three months
Number of Indefinite Lived Intangible Assets \| IntangibleAssets										1
Restocking Charge										20.00%
Investments in auction rate securities that failed auctions						$ 1,850,000			$ 1,850,000	$ 1,850,000	$ 1,850,000	$ 1,850,000
Number of investments \| Investment						2			2	2	2	2
Dividend paid										$ 0	$ 0
Antidilutive securities excluded from computation of diluted earnings per share \| shares										2,900	2,300	2,000
Indefinite-lived intangible asset impairment threshold										More than 50%
Potential amount of undiscounted future contingent consideration						$ 94,000,000				$ 94,000,000
Milestones associated with the contingent consideration						65,800,000				65,800,000
Reflected in current portion of contingent consideration						9,200,000				9,200,000
Interest expense on derivative financial instruments										0	$ 61,000	$ 37,000
Notional amount of interest rate swap agreement						100,000,000				$ 100,000,000
Fixed interest rate payments														3.26%
Stock-based compensation, options vested										88.00%
Stock-based compensation, options granted										12.00%
Trademark-NAMIC [Member]
Business Acquisition [Line Items]
Acquired intangible asset						28,600,000				$ 28,600,000
Biomedical Polymer Additive [Member]
Business Acquisition [Line Items]
Acquired intangible asset			$ 12,100,000
Power Injectable Port [Member]
Business Acquisition [Line Items]
Acquired intangible asset			3,000,000
Customer relationships [Member]
Business Acquisition [Line Items]
Acquired finite lived intangible assets			49,400,000
Weighted average useful life										14 years 9 months 18 days	11 years 8 months 12 days
Amortized estimated useful lives										15 years
Trademarks [Member]
Business Acquisition [Line Items]
Intangibles			32,500,000
Acquired finite lived intangible assets			3,900,000
Weighted average useful life										9 years 10 months 24 days	7 years 3 months 18 days
Amortized estimated useful lives										7 years
Technology [Member]
Business Acquisition [Line Items]
Acquired finite lived intangible assets			10,100,000
Amortized estimated useful lives										6 years
In-process R&D acquired [Member]
Business Acquisition [Line Items]
Acquired intangible asset			15,100,000
Microsulis Medical Ltd [Member]
Business Acquisition [Line Items]
Investment in company						$ 5,000,000				$ 5,000,000
Ownership Percentage						14.30%				14.30%
Cash payments at closing total						$ 10,566,000				$ 10,566,000			$ 10,000,000
Working capital adjustments						5,000,000				5,000,000			$ 5,000,000
Acquisition payment due date													Dec. 31, 2013
Assumed liabilities						1,634,000				1,634,000			$ 1,600,000
Total estimated purchase consideration						33,550,000				33,550,000
Initial investment						5,000,000				5,000,000			$ 5,000,000
Contingent consideration						13,164,000				13,164,000
Fair value of the acquired net assets										19,284,000
Acquisition of related cost\Transaction and related costs										312,000
Goodwill						19,284,000				19,284,000
Intangibles						12,500,000				12,500,000
Vortex Medical [Member]
Business Acquisition [Line Items]
Cash payments at closing total						15,105,000				15,105,000
Assumed liabilities						661,000				661,000
Total estimated purchase consideration						75,292,000				75,292,000
Contingent consideration						60,302,000				60,302,000
Fair value of guaranteed contingent consideration						40,000,000				40,000,000
Fair value of the acquired net assets										29,519,000
Acquisition of related cost\Transaction and related costs										645,000
Goodwill						29,519,000				29,519,000
Intangibles						72,430,000				$ 72,430,000
Weighted average useful life										15 years
Vortex Medical [Member] \| Core Technologies [Member]
Business Acquisition [Line Items]
Amortized estimated useful lives										15 years
Navilyst [Member]
Business Acquisition [Line Items]
Cash payments at closing total			97,000,000
Assumed liabilities			18,287,000
Total estimated purchase consideration			$ 361,000,000
Fair value of the acquired net assets											$ 146,961,000
Acquisition of related cost\Transaction and related costs						2,100,000	$ 1,300,000	$ 1,700,000	$ 11,200,000	$ 2,200,000
Issuance of common stock \| shares			9,500
Senior secured term loan facility			$ 150,000,000
Closing price of stock \| $ / shares			$ 12.44
Transaction and severance costs related to acquisition										$ 7,300,000	$ 11,200,000
Goodwill			$ 144,705,000
Intangibles			$ 107,100,000
Weighted average useful life										10 years
Federal net operating losses, unutilized						17,500,000				$ 17,500,000
Estimated net operating losses, prior to utilization						$ 18,800,000				$ 18,800,000
Number of additional directors to existing board of directors \| Directors										2
Avista Capital Partners [Member]
Business Acquisition [Line Items]
Issuance of common stock \| shares										9,400
Common stock, outstanding shares, percentage						27.00%				27.00%
RITA [Member]
Business Acquisition [Line Items]
Federal net operating losses, unutilized						$ 15,800,000				$ 15,800,000
Federal net operating losses, utilized						7,100,000				7,100,000
Estimated net operating losses, prior to utilization						$ 13,600,000				$ 13,600,000
Maximum [Member]
Business Acquisition [Line Items]
Weighted average useful life										20 years
Accounts receivables period due										90 days
Maximum [Member] \| Microsulis Medical Ltd [Member]
Business Acquisition [Line Items]
Weighted average useful life										15 years
Amortized estimated useful lives										15 years
Minimum [Member]
Business Acquisition [Line Items]
Weighted average useful life										3 years
Accounts receivables period due										30 days
Undamaged product expiration date										12 months
Minimum [Member] \| Microsulis Medical Ltd [Member]
Business Acquisition [Line Items]
Amortized estimated useful lives										10 years

Acquisitions (Details) - Microsulis Medical Ltd [Member] - USD ($) $ in Thousands	May 31, 2013	Feb. 01, 2013
Summary of estimated fair values of the assets acquired and liabilities assumed
Accounts receivable	$ 364
Inventories	687
Other current assets	443
Fixed assets	1,906
Intangibles	12,500
Goodwill	19,284
Total assets acquired	35,184
Liabilities assumed	(1,634)	$ (1,600)
Total purchase price	33,550
Cash payment at closing	10,566	$ 10,000
Cash payment for initial investment	5,000
Present value of deferred payment	4,820
Present value of contingent consideration liability	$ 13,164

Acquisitions (Details 1) - Vortex Medical [Member] $ in Thousands	May 31, 2013 USD ($)
Summary of estimated fair values of the assets acquired and liabilities assumed
Cash and cash equivalents	$ 339
Accounts receivable	203
Inventories	488
Other current assets	7
Deferred tax assets	1,307
Intangibles	72,430
Goodwill	29,519
Total assets acquired	104,293
Deferred tax liabilities	(28,340)
Liabilities assumed	(661)
Total purchase price	75,292
Cash payment at closing	15,105
Present value of contingent consideration liability	60,302
Working capital adjustment	$ (115)

Acquisitions (Details 2) - Navilyst [Member] $ in Thousands	May 22, 2012 USD ($)
Summary of estimated fair values of the assets acquired and liabilities assumed
Cash and cash equivalents	$ 7,683
Accounts receivable	19,069
Inventories	26,851
Prepaid expenses and other current assets	5,504
Property, plant and equipment	34,017
Deferred tax assets	34,209
Goodwill	144,705
Intangibles	107,100
Other long-term assets	497
Total assets acquired	379,635
Liabilities assumed	(18,287)
Total net assets acquired	$ 361,348

Acquisitions (Details 3) - Navilyst [Member] - USD ($) $ in Thousands	12 Months Ended
	May 31, 2012	May 31, 2011
Supplemental unaudited pro forma information
Net sales	$ 365,357	$ 369,381
Net income (loss)	$ 3,897	$ (2,786)

Acquisitions (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended				12 Months Ended
	May 22, 2012	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	May 31, 2012	May 31, 2013	May 31, 2012	May 31, 2011	Feb. 01, 2013	Mar. 22, 2012
Acquisitions (Additional Textual) [Abstract]
Senior secured term loan facility		$ 150,000				$ 150,000
Acquisitions (Textual) [Abstract]
Purchase consideration placed in escrow		19,100				19,100
Purchase consideration placed in escrow in cash		$ 14,000				$ 14,000
Purchase consideration placed in escrow as common stock		415				415
Escrow receivable					$ 2,500		$ 2,500
Cash from escrow fund			$ 2,500			2,500
Trademark-NAMIC [Member]
Acquisitions (Additional Textual) [Abstract]
Acquired intangible asset		28,600				$ 28,600
Biomedical Polymer Additive [Member]
Acquisitions (Additional Textual) [Abstract]
Acquired intangible asset	$ 12,100
Power Injectable Port [Member]
Acquisitions (Additional Textual) [Abstract]
Acquired intangible asset	3,000
Customer relationships [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						15 years
Weighted average useful life						14 years 9 months 18 days	11 years 8 months 12 days
Acquired finite lived intangible assets	49,400
Trademarks [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						7 years
Weighted average useful life						9 years 10 months 24 days	7 years 3 months 18 days
Intangible assets other than goodwill	32,500
Acquired finite lived intangible assets	3,900
In-process R&D acquired [Member]
Acquisitions (Additional Textual) [Abstract]
Acquired intangible asset	15,100
Technology [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						6 years
Acquired finite lived intangible assets	10,100
Maximum [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						20 years
Minimum [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						3 years
Navilyst [Member]
Acquisitions (Additional Textual) [Abstract]
Cash payments at closing total	97,000
Liabilities assumed	18,287
Total purchase price	361,000
Increase in estimated purchase consideration	$ 144,705
Acquisition of related cost\Transaction and related costs		$ 2,100	$ 1,300	$ 1,700	11,200	$ 2,200
Weighted average useful life						10 years
Issuance of common stock	9,500
Senior secured term loan facility	$ 150,000
Closing price of stock	$ 12.44
Transaction and severance costs related to acquisition						$ 7,300	$ 11,200
Intangible assets other than goodwill	$ 107,100
Business acquisition proforma net income loss attributable to different component							3,897	$ (2,786)
Adjustment related to credit facility due to business acquisition					$ 150,000		150,000	150,000
Avista Capital Partners [Member]
Acquisitions (Additional Textual) [Abstract]
Issuance of common stock						9,400
Common stock, outstanding shares, percentage		27.00%				27.00%
Vortex Medical [Member]
Acquisitions (Additional Textual) [Abstract]
Cash payments at closing total		$ 15,105				$ 15,105
Liabilities assumed		661				661
Total purchase price		75,292				75,292
Present value of contingent consideration liability		60,302				60,302
Increase in estimated purchase consideration		$ 29,519				29,519
Acquisition of related cost\Transaction and related costs						$ 645
Percentage of annual net sales, first limit		10.00%				10.00%
Annual net sales, first limit		$ 150,000				$ 150,000
Percentage of annual net sales, second limit		12.50%				12.50%
Annual net sales, second limit		$ 150,000				$ 150,000
Annual net sales		$ 500,000				$ 500,000
Percentage of annual net sales, third limit		15.00%				15.00%
Annual net sales, third limit		$ 500,000				$ 500,000
Guaranteed minimum payments payable first anniversary		8,350				8,350
Guaranteed minimum payments payable second anniversary		8,000				8,000
Guaranteed minimum payments payable third anniversary		8,000				8,000
Guaranteed minimum payments payable fourth anniversary		8,000				8,000
Guaranteed minimum payments payable fifth anniversary		7,650				7,650
Fair value of guaranteed contingent consideration		40,000				$ 40,000
Weighted average useful life						15 years
Intangible assets other than goodwill		72,430				$ 72,430
Microsulis Medical Ltd [Member]
Acquisitions (Additional Textual) [Abstract]
Investment in company		5,000				5,000
Ownership percentage in investment										14.30%
Cash payments at closing total		10,566				10,566			$ 10,000
Business acquisition cost of acquired entity purchase price payable		5,000				$ 5,000			5,000
Additional cash consideration payable period						9 years
Liabilities assumed		1,634				$ 1,634			$ 1,600
Total purchase price		33,550				33,550
Cash payment for initial investment		5,000				5,000
Present value of contingent consideration liability		13,164				13,164
Increase in estimated purchase consideration		19,284				19,284
Acquisition of related cost\Transaction and related costs						312
Intangible assets other than goodwill		$ 12,500				$ 12,500
Microsulis Medical Ltd [Member] \| Maximum [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						15 years
Weighted average useful life						15 years
Microsulis Medical Ltd [Member] \| Minimum [Member]
Acquisitions (Additional Textual) [Abstract]
Weighted average useful life						10 years
Transaction Costs and Restructuring Charges [Member] \| Navilyst [Member]
Acquisitions (Additional Textual) [Abstract]
Business acquisition proforma net income loss attributable to different component							17,600
Inventory Step Up Costs [Member] \| Navilyst [Member]
Acquisitions (Additional Textual) [Abstract]
Business acquisition proforma net income loss attributable to different component								3,800
Interest Expense [Member] \| Navilyst [Member]
Acquisitions (Additional Textual) [Abstract]
Business acquisition proforma net income loss attributable to different component							$ 4,700	$ 4,700

Marketable Securities and Investments (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Marketable securities
Amortized cost	$ 2,153	$ 14,255
Gross Unrealized Gains		15
Gross Unrealized Losses		(200)
Fair Value	2,153	14,070
U.S. government agency obligations [Member]
Marketable securities
Amortized cost	1,850	7,739
Gross Unrealized Gains		5
Gross Unrealized Losses		(45)
Fair Value	1,850	7,699
Corporate bond securities [Member]
Marketable securities
Amortized cost	303	6,516
Gross Unrealized Gains		10
Gross Unrealized Losses		(155)
Fair Value	$ 303	$ 6,371

- Definition

Total of debt securities categorized neither as held-to-maturity nor trading which are intended be sold or mature within one year from the balance sheet date or the normal operating cycle, whichever is longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 25
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7534914&loc=d3e22054-111558

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26626-111562

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Paragraph 4, 5
-Chapter 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15E
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15C
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Marketable Securities and Investments (Details 1) $ in Thousands	May 31, 2013 USD ($)
Amortized cost and fair value of marketable securities by contractual maturity
Due in one year or less, Amortized cost
Due after one through five years, Amortized cost	303
Due after five through twenty years, Amortized cost	1,850
Amortized cost, Total	2,153
Due in one year or less, Fair Value
Due after one through five years, Fair Value	303
Due after five through twenty years, Fair Value	1,850
Fair Value, Total	$ 2,153

- Definition

Amount of debt securities categorized neither as held-to-maturity nor trading.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 25
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7534914&loc=d3e22054-111558

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26610-111562

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-Subparagraph (b)-(g)
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15C
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventories (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Inventories
Raw materials	$ 18,362	$ 18,984
Work in process	11,006	9,504
Finished goods	25,694	27,335
Inventories	$ 55,062	$ 55,823

Prepaid Expenses and Other (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Prepaid expenses and other
Deposits	$ 4,029	$ 3,187
Income and other taxes	1,021	3,206
Licensee fees	809	364
Software licenses	520	407
Trade shows	487	660
Rent	135	107
Insurance	120	343
Interest receivable	2	100
Other	994	1,452
Total	$ 8,117	$ 9,826

Property, Plant, and Equipment, at Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012
Property, plant and equipment
Property, plant and equipment	$ 91,042	$ 77,316
Less accumulated depreciation and amortization	(29,421)	(22,430)
Property, plant and equipment excluding land and land improvements	61,621	54,886
Land and land improvements	1,029	1,029
Property, plant and equipment, Net	$ 62,650	55,915
Building and building improvements [Member]
Property, plant and equipment
Estimated useful lives	39 years
Property, plant and equipment	$ 30,150	29,743
Machinery and equipment [Member]
Property, plant and equipment
Property, plant and equipment	$ 31,129	27,618
Machinery and equipment [Member] \| Minimum [Member]
Property, plant and equipment
Estimated useful lives	3 years
Machinery and equipment [Member] \| Maximum [Member]
Property, plant and equipment
Estimated useful lives	8 years
Computer software and equipment [Member]
Property, plant and equipment
Property, plant and equipment	$ 16,390	16,501
Computer software and equipment [Member] \| Minimum [Member]
Property, plant and equipment
Estimated useful lives	3 years
Computer software and equipment [Member] \| Maximum [Member]
Property, plant and equipment
Estimated useful lives	5 years
Construction in progress [Member]
Property, plant and equipment
Property, plant and equipment	$ 13,373	$ 3,454

Property, Plant and Equipment, at Cost (Details Textual) - USD ($) $ in Millions	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Property, Plant and Equipment, at Cost (Textual) [Abstract]
Depreciation expense	$ 8.7	$ 3.6	$ 3.0

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012
Adjustments to Goodwill
Goodwill, Beginning Balance	$ 308,912	$ 161,951
Goodwill, Ending Balance	355,458	308,912
Vortex Medical [Member]
Adjustments to Goodwill
Goodwill recognized from business combination and asset acquisition	29,519
Microsulis Medical Ltd [Member]
Adjustments to Goodwill
Goodwill recognized from business combination and asset acquisition	19,284
Navilyst [Member]
Adjustments to Goodwill
Goodwill recognized from business combination and asset acquisition		$ 146,961
Adjustments to Navilyst purchase price allocation	$ (2,257)

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012
Schedule of Intangible assets
Gross carrying value	$ 276,737	$ 193,254
Accumulated amortization	(61,889)	(45,988)
Net carrying value	214,848	147,266
Trademark-NAMIC [Member]
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value	28,600	28,600
Net carrying value	28,600	28,600
In-process R&D acquired [Member]
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value		15,042
Net carrying value		15,042
Customer relationships [Member]
Schedule of Intangible assets
Gross carrying value	84,479	82,205
Accumulated amortization	(30,595)	(22,123)
Net carrying value	$ 53,884	$ 60,082
Weighted average useful life	14 years 9 months 18 days	11 years 8 months 12 days
Product technologies [Member]
Schedule of Intangible assets
Gross carrying value	$ 150,181	$ 55,540
Accumulated amortization	(24,835)	(18,839)
Net carrying value	$ 125,346	$ 36,701
Weighted average useful life	10 years 7 months 6 days	11 years 3 months 18 days
Licenses [Member]
Schedule of Intangible assets
Gross carrying value	$ 6,302	$ 6,152
Accumulated amortization	(4,501)	(3,711)
Net carrying value	$ 1,801	$ 2,441
Weighted average useful life	9 years	9 years 1 month 6 days
Trademarks [Member]
Schedule of Intangible assets
Gross carrying value	$ 6,275	$ 4,575
Accumulated amortization	(1,058)	(375)
Net carrying value	$ 5,217	$ 4,200
Weighted average useful life	9 years 10 months 24 days	7 years 3 months 18 days
Distributor relationships [Member]
Schedule of Intangible assets
Gross carrying value	$ 900	$ 1,140
Accumulated amortization	(900)	(940)
Net carrying value		$ 200
Weighted average useful life	3 years	2 years 7 months 6 days

Goodwill and Intangible Assets (Details 2) $ in Thousands	May 31, 2013 USD ($)
Expected amortization expense
2014	$ 15,198
2015	14,391
2016	15,498
2017	16,318
2018	$ 17,523

Goodwill and Intangible Assets (Details Textual)	1 Months Ended	12 Months Ended
Goodwill and Intangible Assets (Details Textual)	Dec. 31, 2012 USD ($)	May 31, 2013 USD ($) ReportingUnit Segment	May 31, 2012 USD ($) ReportingUnit	May 31, 2011 USD ($)
Goodwill and Intangible Assets (Textual) [Abstract]
Terminal value of the reporting unit		6.0
Discount rate used in fair value calculation		13.50%
Number of segment \| Segment		1
Number of reporting segments \| ReportingUnit		1	2
Percentage of fair value, carrying value	5.00%
Estimated control premium used in fair value calculation	60.00%
Goodwill impairment	$ 0
Reduction in carrying value of goodwill		$ 2,300,000
Change in carrying value of goodwill due to settlement		858,000
Increase in value of deferred tax assets		1,560,000
Preacquisition tax adjustments to goodwill		161,000
Amortization expense		16,345,000	$ 9,406,000	$ 9,234,000
Trademark-NAMIC [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangible asset		$ 28,600,000
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimates useful life of intangible assets other than goodwill		20 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimates useful life of intangible assets other than goodwill		3 years

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012	May 31, 2011
Components of income (loss) before income tax provision
US	$ (2,670)	$ (5,151)	$ 10,076
Non-US	2,027	(131)	622
Total other (expenses) income, net	$ (643)	$ (5,282)	$ 10,698

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012	May 31, 2011
Current
Federal	$ (1,622)	$ 448	$ 3,030
State and local	(52)	(19)	323
Non U.S.	468	18	142
Current, Total	(1,206)	447	3,495
Deferred	1,175	(635)	(914)
Income tax expense/(benefit), Total	$ (31)	$ (188)	$ 2,581

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

+ References

+ Details

- Definition

The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
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-Paragraph 9
-Subparagraph (a)
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
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-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Number 109
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

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-Name Accounting Standards Codification
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-Paragraph 1
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-Name Regulation S-X (SX)
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-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012	May 31, 2011
Summary of significant components of deferred income tax (benefit) expense from operations
Deferred tax benefit	$ 1,175	$ (1,722)	$ (4,092)
Net operating loss carryforward		1,087	3,178
Deferred income tax provisions	$ 1,175	$ (635)	$ (914)

- Definition

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

+ References

+ Details

Income Taxes (Details 3) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Deferred tax assets
Net operating loss carryforward	$ 47,098	$ 45,707
Stock-based compensation	4,813	5,394
Federal and state R&D tax credit carryforward	490	629
Inventories	1,713	95
State tax credits	1,326	1,929
Expenses incurred not currently deductible	880	1,780
Capital loss carryforwards	95	371
Deferred revenue	1,147	1,256
Gross deferred tax asset	57,562	57,161
Deferred tax liabilities
Excess tax over book depreciation and amortization	39,252	11,820
Impairment of long-lived assets		24
Gross deferred Liability	39,252	11,844
Valuation Allowance	(712)	(1,196)
Net deferred tax asset	$ 17,598	$ 44,121

Income Taxes (Details 4) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 4) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012	May 31, 2011
Reasons for consolidated income tax provision
Income tax (benefit) provision	$ (31)	$ (188)	$ 2,581
Effect of Graduated tax rates	(6)	(53)	107
State income taxes, net of Federal tax benefit	(88)	(158)	99
State income tax credits, net of Federal tax benefit	23	69	300
Impact of Non US operations	228	(46)	65
Tax-exempt interest	2	4	5
Research and development tax credit	142	115	549
Domestic Production Activities deduction		71	471
Nondeductible acquisition costs	(110)	(1,144)
Nondeductible interest on contingent payments	(130)
Nondeductible stock-based compensation	(108)	(125)	(119)
Other nondeductible expenses	(336)	(336)	(323)
Overaccrual (underaccrual) of prior year Federal and state taxes	10	138	49
Fully reserved capital losses	179	(208)	(19)
Other		12	(21)
Income tax (benefit) provision at statutory tax rate of 35%	$ (225)	$ (1,849)	$ 3,744

Income Taxes (Details Textual) - USD ($)	12 Months Ended
Income Taxes (Details Textual) - USD ($)	May 31, 2013	May 31, 2012
Income Taxes (Textual) [Abstract]
Remaining federal net operating loss	$ 31,100,000
State net operating loss expire prior to utilization	$ 27,200,000
Deferred tax assets remaining carryforward period	18 years
Taxable income per year for the next ten years	$ 9,200,000
Taxable income per year for the final eight years	5,400,000
Federal net operating loss carryforwards after considering IRC Section 382 limitations	$ 135,400,000
Maturity Period of Federal net operating loss carryforwards Minimum	2017
Maturity Period of Federal net operating loss carryforwards Maximum	2021
Federal Net Operating Loss Expiration Year Range Starts Two	2022
Federal Net Operating Loss Expiration Year Range Ends Two	2026
Federal Net Operating Loss Expiration Year Range Minimum	2027
Federal Net Operating Loss Expiration Year Range Maximum	2031
Federal Net Operating Loss Expected Expiration Amount one	$ 20,800,000
Federal Net Operating Loss Expected Expiration Amount Two	9,900,000
Federal Net Operating Loss Expected Expiration Amount Three	104,700,000
State net operating loss carryforwards after considering remaining IRC Section 382 limitations	$ 154,700,000
Maturity Period of State net operating loss carryforwards minimum	2014
Maturity Period of State net operating loss carryforwards Maximum	2031
Maturity Period of State credits	2013
Increase decrease valuation allowance	$ 484,000	$ 62,000
State Tax Credit Expiration Term Description	Unlimited
Tax liability not recognized	$ 0
Accrued interest and penalties recognized	$ 0	0
Effective income tax rate	35.00%
Unrecognized tax benefits	$ 0
Net deferred income tax asset	17,600,000
Valuation Allowance	$ (712,000)	(1,196,000)
Open Tax Year Range Starts	2010
Open Tax Year Range Ends	2013
Benefit of correct certain state tax credits	$ 300,000
Claim state tax credits		$ 210,000
State [Member]
Income Tax [Line Items]
Federal and State net operating loss carryforwards	181,900,000
Total State credits	2,600,000
State credits with valuation allowance	600,000
Federal [Member]
Income Tax [Line Items]
Federal and State net operating loss carryforwards	$ 166,500,000

Prepaid Royalties (Details) - USD ($) $ in Thousands	12 Months Ended
Prepaid Royalties (Details) - USD ($) $ in Thousands	May 31, 2012	May 31, 2011	Aug. 13, 2007
Prepaid Expenses and Other/Prepaid Royalties [Abstract]
Prepaid royalty at agreement date			$ 3,000
Acquisition, restructuring and other items, net	$ 201
Impairment loss		$ 2,300

Accrued Liabilities (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Accrued liabilities
Payroll and related expenses	$ 6,491	$ 5,674
Royalties	2,034	2,258
Accrued severance	1,602	2,087
Deferred revenue	1,573	3,138
Sales and franchise taxes	1,047	1,092
Interest rate swap liability	523
Other	3,156	4,473
Total	$ 16,426	$ 18,722

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for royalties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset.

+ References + Details

Long-Term Debt (Details) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Summary of long-term debt
Bank Notes	$ 142,500	$ 150,000
Less: current maturities	7,500	7,500
Long-term debt	$ 135,000	$ 142,500

Long-Term Debt (Details1) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012
Future minimum principal payments on long-term debt
2014	$ 7,500
2015	22,500
2016	37,500
2017	75,000
Bank Notes	$ 142,500	$ 150,000

Long-Term Debt (Details Textual) - USD ($)	12 Months Ended
Long-Term Debt (Details Textual) - USD ($)	May 31, 2013	May 31, 2012	Dec. 31, 2006	Sep. 30, 2002
Debt Instrument [Line Items]
Long-Term Debt	$ 142,500,000	$ 150,000,000
Long-Term Debt (Textual) [Abstract]
Senior secured term loan facility	150,000,000
Senior secured revolving credit facility	$ 50,000,000
Bank credit agreement maturity period	5 Years
Percentage of quarterly repayment of term facility year one	5.00%
Percentage of quarterly repayment of term facility year two	5.00%
Percentage of quarterly repayment of term facility year three	15.00%
Percentage of quarterly repayment of term facility year four	25.00%
Percentage of quarterly repayment of term facility year five	50.00%
Percentage of increase in interest	2.00%
Debt service coverage ratio	1.75
Net deferred financing costs	$ 1,950,000
Notional amount of interest rate swap agreement	$ 100,000,000
Fixed interest rate payments	0.74%
Line of Credit [Member]
Debt Instrument [Line Items]
Percentage of increases leverage ratio base rate, minimum	2.00%
Percentage of increases leverage ratio base rate, maximum	2.75%
Term Loan [Member]
Debt Instrument [Line Items]
Percentage of increases leverage ratio base rate, minimum	1.00%
Percentage of increases leverage ratio base rate, maximum	1.75%
Industrial Revenue Bonds [Member]
Debt Instrument [Line Items]
Long-Term Debt				$ 3,130,000
Tax Adjustable Rate Notes [Member]
Debt Instrument [Line Items]
Long-Term Debt			$ 5,000,000
Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.30%

Retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	May 31, 2013	May 31, 2012	May 31, 2011
Retirement Plans (Textual) [Abstract]
Matching contributions	$ 2.5	$ 2.0	$ 1.8

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Schedule summarizes stock option activity
Shares Outstanding at beginning of year	2,985,192	2,680,390	2,624,114
Shares Granted	406,700	1,434,000	503,000
Shares Exercised	(16,835)	(193,684)	(106,858)
Shares Forfeited	(589,787)	(917,126)	(335,300)
Shares Expired	(16,342)	(18,388)	(4,566)
Shares Outstanding at end of year	2,768,928	2,985,192	2,680,390
Shares Options exercisable at year end	1,601,028	1,678,559	1,637,945
Shares Option expected to vest in future periods	1,069,119	1,075,473	830,552
Weighted Average exercise price, Outstanding at beginning of year	$ 15.69	$ 15.96	$ 16.22
Weighted Average exercise price Granted	11.40	13.70	15.37
Weighted Average exercise price Exercised	11.15	14.22	15.89
Weighted Average exercise price Forfeited	17.45	14.22	17.94
Weighted Average exercise price Expired	15.69	24.44	48.51
Weighted Average exercise price, Outstanding at end of year	14.84	15.69	15.96
Weighted Average exercise price, Options exercisable at year end	16.12	17.01	16.76
Weighted Average exercise price, Options expected to vest in future periods	$ 13.31	$ 14.19	$ 15.25
Weighted Average remaining contractual life	4 years 6 months 22 days
Weighted Average remaining contractual life, Option exercisable at year end	4 years 6 months 15 days
Weighted Average remaining contractual life, Option expected to vest in future periods	5 years 6 months 18 days
Aggregate intrinsic value, Outstanding at end of year	$ 19,524
Aggregate intrinsic value, Options exercisable at year end	13,384
Aggregate intrinsic value, Option expected to vest in future periods	$ 5,607

Stockholders' Equity (Details 1) - $ / shares	12 Months Ended
Stockholders' Equity (Details 1) - $ / shares	May 31, 2013	May 31, 2012	May 31, 2011
Summary of weighted average fair value of options granted
Weighted-average fair value of options granted during the year	$ 4.19	$ 5.62	$ 6.83

Stockholders' Equity (Details 2)	12 Months Ended
Stockholders' Equity (Details 2)	May 31, 2013	May 31, 2012	May 31, 2011
Schedule of weighted-average fair value assumptions
Expected stock price volatility	43.91%	49.06%	52.39%
Risk-free interest rate	0.62%	0.70%	1.33%
Expected life of options	4 years 7 months 13 days	4 years 7 months 2 days	4 years 7 months 17 days

Stockholders' Equity (Details 3)	12 Months Ended
Stockholders' Equity (Details 3)	May 31, 2013 $ / shares shares
Options outstanding
Number outstanding \| shares	2,768,928
Weighted-average remaining life in years	4 years 6 months 22 days
Weighted -average exercise price	$ 14.84
Number Exercisable \| shares	1,601,028
Weighted-average exercise price	$ 16.12
Range One [Member]
Options outstanding
Range of exercise prices, Lower limit	6.52
Range of exercise prices, Upper limit	$ 11.93
Number outstanding \| shares	286,756
Weighted-average remaining life in years	4 years 11 months 9 days
Weighted -average exercise price	$ 10.57
Number Exercisable \| shares	71,056
Weighted-average exercise price	$ 10.52
Range Two [Member]
Options outstanding
Range of exercise prices, Lower limit	12.06
Range of exercise prices, Upper limit	$ 12.97
Number outstanding \| shares	364,361
Weighted-average remaining life in years	5 years 10 months 6 days
Weighted -average exercise price	$ 12.40
Number Exercisable \| shares	85,361
Weighted-average exercise price	$ 12.47
Range Three [Member]
Options outstanding
Range of exercise prices, Lower limit	13.18
Range of exercise prices, Upper limit	$ 13.85
Number outstanding \| shares	465,931
Weighted-average remaining life in years	4 years 2 months 27 days
Weighted -average exercise price	$ 13.36
Number Exercisable \| shares	265,642
Weighted-average exercise price	$ 13.36
Range Four [Member]
Options outstanding
Range of exercise prices, Lower limit	13.92
Range of exercise prices, Upper limit	$ 14.31
Number outstanding \| shares	430,000
Weighted-average remaining life in years	5 years 2 months 16 days
Weighted -average exercise price	$ 13.95
Number Exercisable \| shares	119,167
Weighted-average exercise price	$ 13.98
Range Five [Member]
Options outstanding
Range of exercise prices, Lower limit	14.48
Range of exercise prices, Upper limit	$ 15.57
Number outstanding \| shares	372,566
Weighted-average remaining life in years	3 years 11 days
Weighted -average exercise price	$ 15.32
Number Exercisable \| shares	288,566
Weighted-average exercise price	$ 15.27
Range Six [Member]
Options outstanding
Range of exercise prices, Lower limit	15.75
Range of exercise prices, Upper limit	$ 16.58
Number outstanding \| shares	370,564
Weighted-average remaining life in years	3 years 5 months 12 days
Weighted -average exercise price	$ 16.13
Number Exercisable \| shares	292,486
Weighted-average exercise price	$ 16.19
Range Seven [Member]
Options outstanding
Range of exercise prices, Lower limit	16.75
Range of exercise prices, Upper limit	$ 19.94
Number outstanding \| shares	285,580
Weighted-average remaining life in years	2 years 7 days
Weighted -average exercise price	$ 18.19
Number Exercisable \| shares	285,580
Weighted-average exercise price	$ 18.19
Range Eight [Member]
Options outstanding
Range of exercise prices, Lower limit	20.06
Range of exercise prices, Upper limit	$ 31.33
Number outstanding \| shares	193,170
Weighted-average remaining life in years	2 years 1 month 10 days
Weighted -average exercise price	$ 23.05
Number Exercisable \| shares	193,170
Weighted-average exercise price	$ 23.05

Stockholders' Equity (Details 4)	12 Months Ended
Stockholders' Equity (Details 4)	May 31, 2013 $ / shares shares
Share Based Compensation Arrangement by Share Based Payment Award Nonvested Shares and Weighted Average Grant Date Fair Value [Abstract]
Non-Vested Stock Award Units Beginning Balance \| shares	353,895
Non-Vested Stock Award Units, Granted \| shares	313,247
Non-Vested Stock Award Units, Cancelled \| shares	(73,479)
Non-Vested Stock Award Units, Vested \| shares	(111,019)
Non-Vested Stock Award Units Ending Balance \| shares	482,644
Weighted Average Grant-Date Fair Value Beginning Balance \| $ / shares	$ 14.12
Weighted Average Grant-Date Fair Value, Granted \| $ / shares	10.79
Weighted Average Grant-Date Fair Value, Cancelled \| $ / shares	12.73
Weighted Average Grant-Date Fair Value, Vested \| $ / shares	14.24
Weighted Average Grant-Date Fair Value Ending Balance \| $ / shares	$ 12.14

- Definition

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

+ References + Details

Stockholders' Equity (Details 5) $ in Thousands	12 Months Ended
Stockholders' Equity (Details 5) $ in Thousands	May 31, 2013 USD ($)
Summary of future expense for awards outstanding
Stock Options Unrecognized Compensation Cost	$ 4,596
Non-vested stock awards, Unrecognized Compensation Cost	4,091
Total, Unrecognized Compensation Cost	$ 8,687
Stock Options, Weighted Average Remaining Vesting Period	2 years 4 months 21 days
Non-vested stock awards, Weighted Average Remaining Vesting Period	2 years 6 months 15 days
Total, weighted average remaining vesting period	2 years 5 months 12 days

Stockholders' Equity (Details 6) - USD ($) $ in Thousands	12 Months Ended
Stockholders' Equity (Details 6) - USD ($) $ in Thousands	May 31, 2013	May 31, 2012	May 31, 2011
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	$ 4,609	$ 4,090	$ 4,609
Tax benefit	1,540	1,386	1,677
Stock based compensation expense, net of tax	3,069	2,704	2,932
Cost of Sales [Member]
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	271	268	227
Research and Development [Member]
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	399	738	702
Sales and Marketing [Member]
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	1,610	1,340	1,439
General and Administrative [Member]
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	2,329	1,744	2,241
Operating Expenses [Member]
Summary of stock-based compensation in accordance with authoritative guidance on share based payment awards
Stock based compensation expense	$ 4,338	$ 3,822	$ 4,382

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	May 22, 2012 shares	Oct. 05, 2011 USD ($) shares	May 31, 2013 USD ($) OptionPlan Employees $ / shares shares	May 31, 2012 USD ($) $ / shares shares	May 31, 2011 USD ($) $ / shares shares	Feb. 27, 2004 $ / shares shares
Stockholders Equity Additional Information [Abstract]
Shares Issued upon the exercise of incentive stock option			16,835	193,684	106,858
Maximum number of shares to be offered			5,800,000
Stockholders Equity (Textual) [Abstract]
Authorized capital stock						50,000,000
Common stock, shares authorized			45,000,000	45,000,000		45,000,000
Common stock, par value \| $ / shares			$ 0.01	$ 0.01		$ 0.01
Preferred stock, shares authorized			5,000,000	5,000,000		5,000,000
Preferred stock, par value \| $ / shares			$ 0.01	$ 0.01		$ 0.01
Voting common stock, par value \| $ / shares						1
Non-voting common stock, par value \| $ / shares						$ 1
Common stock, issued						9,200
Authorized the repurchase of common stock \| $		$ 20,000
Number of purchased shares				142,305
Purchase of common stock for treasury \| $				$ (2,104)
Percentage of grants to employees vesting			25.00%
Option grants to employees vesting period			4 years
Percentage of grants for consultants vesting			100.00%
Option grants to consultants vesting period			1 year
Percentage of Initial grants to directors vesting			25.00%
Initial grants to directors vesting period			4 years
Preferred stock
Common stock, shares outstanding						9,200,000
Common stock, shares issued			35,060,351	34,826,531
Voting - Non Voting common stock, par value \| $ / shares			$ 0.01	$ 0.01		$ 0.01
Number of stock-based compensation plans \| OptionPlan			2
Shares Issued upon the exercise of incentive stock option			1,601,028	1,678,559	1,637,945
The total intrinsic value of options exercised \| $			$ 100	$ 2,200	$ 1,300
Average price of share issued \| $ / shares			$ 9.80	$ 11.62	$ 13.01
Subsequent grants for directors vesting			33.33%
Subsequent grants for directors vesting period			3 years
Unrecognized compensation cost for stock options			12.00%
Stock based compensation pre tax amount \| $			$ 4,609	$ 4,090	$ 4,609
Stock based compensation after tax amount \| $			$ 3,069	2,704	2,932
Avista Capital Partners [Member]
Stockholders Equity Additional Information [Abstract]
Issuance of investment funds	9,500,000
Common stock, outstanding shares, percentage			27.00%
Stockholders Equity (Textual) [Abstract]
Issuance of investment funds	9,500,000
Performance Share and Restricted Stock Unit Awards [Member]
Stockholders Equity Additional Information [Abstract]
Total fair value of restricted stock awards vesting \| $			$ 1,200	$ 900	$ 1,100
1997 Stock Option Plan [Member]
Stockholders Equity Additional Information [Abstract]
Total number of common stock available to be issued			1,497,674
Options exercisable period			10 years
2004 Stock and Incentive Award Plan [Member]
Stockholders Equity Additional Information [Abstract]
Total number of common stock available to be issued			2,000,000
Options exercisable period			10 years
Incentive Award Plan to increase the maximum number of shares		500,000
Incentive Award Plan to increase the minimum number of shares		200,000
Total number of common stock reserved for issuance			5,750,000
2004 Stock and Incentive Award Plan [Member] \| Maximum [Member]
Stockholders Equity Additional Information [Abstract]
Total number of common stock available to be issued			800,000
Employee Stock Purchase Plan [Member]
Stockholders Equity Additional Information [Abstract]
Total number of common stock available to be issued			570,170
Maximum number of shares to be offered under the Stock Purchase Plan			123,556	103,362	84,927
Working schedule of employee to participate in offering period			20 or more hours per week and more than five months in a calendar year
Maximum number of shares to be offered			1,200,000
Number of share purchase period \| Employees			2
Duration of purchase of shares			6 months
Employee eligible in participating in offering period			6 months
Employees ownership threshold			5.00%
Percentage of fair market value of a share of common stock on the last day of the offering period			85.00%
Percentage of fair market value of a share of common stock on the first day of the offering period			85.00%

Commitments and Contingencies (Details) $ in Thousands	May 31, 2013 USD ($)
Aggregate of future annual payments under non cancelable operating leases for facilities and equipment [Abstract]
2014	$ 2,132
2015	1,909
2016	1,373
2017	982
2018+	2,594
Total	$ 8,990

Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 08, 2012 USD ($)	May 31, 2013 USD ($) Petition Lawsuit Employees	May 31, 2012 USD ($)	May 31, 2011 USD ($)
Commitments and Contingencies (Textual) [Abstract]
Aggregate rental costs under operating leases		$ 2.5	$ 3.1	$ 3.1
Number of lawsuits against biolitec previously settled for which seeking defense and indemnification \| Lawsuit		2
Partial judgment granted	$ 23.2
Number of petitions filed for reexamination of patents \| Petition		3
Number of patent claims rejected		40 of 41 patent
Total future purchase obligations for 2014		$ 3.7
Total future purchase obligations for 2015		0.4
Total future purchase obligations for 2016		0.0
Total future purchase obligations for 2017		$ 0.4
Cardinal Health [Member]
Loss Contingencies [Line Items]
Number of employees in related litigation \| Employees		3

Segments and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	Aug. 31, 2012	May 31, 2012	Feb. 29, 2012	Nov. 30, 2011	Aug. 30, 2011	May 31, 2013	May 31, 2012	May 31, 2011
Summary of total net sales by product category
Total	$ 90,042	$ 81,571	$ 87,007	$ 83,406	$ 57,690	$ 51,567	$ 58,099	$ 54,431	$ 342,026	$ 221,787	$ 215,750
Peripheral Vascular [Member]
Summary of total net sales by product category
Total									188,181	95,200	86,992
Access [Member]
Summary of total net sales by product category
Total									106,690	63,857	62,530
Vascular [Member]
Summary of total net sales by product category
Total									294,871	159,057	149,522
Oncology/Surgery [Member]
Summary of total net sales by product category
Total									$ 47,155	$ 62,730	$ 66,228

Segments and Geographic Information (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	Aug. 31, 2012	May 31, 2012	Feb. 29, 2012	Nov. 30, 2011	Aug. 30, 2011	May 31, 2013	May 31, 2012	May 31, 2011
Net Sales by Geography
Net sales	$ 90,042	$ 81,571	$ 87,007	$ 83,406	$ 57,690	$ 51,567	$ 58,099	$ 54,431	$ 342,026	$ 221,787	$ 215,750
United States [Member]
Net Sales by Geography
Net sales									274,836	188,187	188,879
International [Member]
Net Sales by Geography
Net sales									$ 67,190	$ 33,600	$ 26,871

Segments and Geographic Information (Details Textual) - Segment	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Segments and Geographic Information (Textual) [Abstract]
Number of segment	1
International sales percentage of total net sales	20.00%	15.00%	12.00%
Total assets are located within the United States	99.00%

Quarterly Information (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	Aug. 31, 2012	May 31, 2012	Feb. 29, 2012	Nov. 30, 2011	Aug. 30, 2011	May 31, 2013	May 31, 2012	May 31, 2011
Summary of Quarterly Financial Information
Net sales	$ 90,042	$ 81,571	$ 87,007	$ 83,406	$ 57,690	$ 51,567	$ 58,099	$ 54,431	$ 342,026	$ 221,787	$ 215,750
Gross profit	44,241	41,201	44,088	39,459	31,168	29,414	33,231	32,146	168,989	125,958	125,703
Net Income (Loss)	$ (868)	$ (992)	$ 1,969	$ (721)	$ (7,028)	$ (1,768)	$ 2,329	$ 1,373	$ (612)	$ (5,094)	$ 8,117
Earnings per common share
Basic	$ (0.03)	$ (0.03)	$ 0.06	$ (0.02)	$ (0.27)	$ (0.07)	$ 0.09	$ 0.05	$ (0.02)	$ (0.20)	$ 0.33
Diluted	$ (0.03)	$ (0.03)	$ 0.06	$ (0.02)	$ (0.27)	$ (0.07)	$ 0.09	$ 0.05	$ (0.02)	$ (0.20)	$ 0.32

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.23)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Quarterly Information (unaudited) (Details Textual) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	May 31, 2012	May 31, 2013	May 31, 2012	May 31, 2011
Quarterly Information (Additional Textual) [Abstract]
Costs related to the discontinuance of product line		$ 1,600
Acquisition, restructuring and other items, net				$ 16,200	$ 13,800	$ 16,164	$ 7,182
Transaction and related costs, CEO and executive transitions				2,300
Transaction and related costs, UK facility	$ 717	920	$ 476	1,800	337	$ 1,800
Litigation costs	580	901	425
Gain (loss) on sale of product line			770
Navilyst [Member]
Quarterly Information (Textual) [Abstract]
Acquisition of related cost\Transaction and related costs	$ 2,100	1,300	1,700	11,200	$ 2,200
Vortex and Microsulis Medical Ltd [Member]
Quarterly Information (Textual) [Abstract]
Acquisition of related cost\Transaction and related costs		$ 414
Microsulis Medical Ltd [Member]
Quarterly Information (Textual) [Abstract]
Acquisition of related cost\Transaction and related costs				600
Vortex Medical [Member]
Quarterly Information (Textual) [Abstract]
Acquisition of related cost\Transaction and related costs			$ 325
C R Bard [Member]
Quarterly Information (Textual) [Abstract]
Transaction and related costs				$ 465

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2013	May 31, 2012	May 31, 2011
Valuation and Qualifying Accounts
Balance at Beginning of Period	$ 2,129	$ 1,619	$ 1,720
Additions - Charged to costs and expenses	4,134	5,067	4,229
Deductions - describe	(4,279)	(4,557)	(4,330)
Balance at End of Period	1,984	2,129	1,619
Allowance for deferred tax asset [Member]
Valuation and Qualifying Accounts
Balance at Beginning of Period	1,196	1,134	1,162
Additions - Charged to costs and expenses		208	27
Deductions - describe	(484)	(146)	(55)
Balance at End of Period	712	1,196	1,134
Allowance for sales returns and doubtful accounts [Member]
Valuation and Qualifying Accounts
Balance at Beginning of Period	933	485	558
Additions - Charged to costs and expenses	4,134	4,859	4,202
Deductions - describe	(3,795)	(4,411)	(4,275)
Balance at End of Period	$ 1,272	$ 933	$ 485