Form 10-Q - 3/31/15

Significant Accounting Policies [Text Block]

Accounting Policies [Abstract]

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Use of Estimates

The accompanying consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain of our accounts, including inventories, long-lived assets, goodwill, identifiable intangibles and deferred tax assets and liabilities including related valuation allowances, are particularly impacted by estimates.

In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position, results of operations, and changes in cash flows for the interim periods presented. Certain footnote information has been condensed or omitted from these consolidated financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission on March 26, 2015 (the "2014 Form 10-K").

Reclassification

Certain prior period amounts have been reclassified to be comparable with the current period's presentation.

Inventories

Inventories are valued at cost on a first-in, first-out basis, not in excess of market value. Cash flows from the sale of inventories are recorded in operating cash flows. On a quarterly basis, we review our inventories and record excess and obsolete inventory charges based upon our established objective excess and obsolete inventory criteria. These criteria identify material that has not been used in a work order during the prior twelve months and the quantity of material on hand that is greater than the average annual usage of that material over the prior three years. In certain cases, additional excess and obsolete inventory charges are recorded based upon current market conditions, anticipated product life cycles, new product introductions and expected future use of the inventory. The excess and obsolete inventory charges we record establish a new cost basis for the related inventories. We incurred excess and obsolete inventory charges of $51 and $35 for the three months ended March 31, 2015 and 2014, respectively.

Goodwill, Intangible and Long-Lived Assets

We account for goodwill and intangible assets in accordance with Accounting Standards Codification ("ASC") 350 (Intangibles- Goodwill and Other). Finite-lived intangible assets are amortized over their estimated useful economic life and are carried at cost less accumulated amortization. Goodwill is assessed for impairment at least annually in the fourth quarter, on a reporting unit basis, or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. As a part of the goodwill impairment assessment, we have the option to perform a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If we determine this is the case, we are required to perform a two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized. The two-step test is discussed below. If we determine that it is more-likely-than-not that the fair value of the reporting unit is greater than its carrying amounts, the two-step goodwill impairment test is not required.

If we determine it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount as a result of our qualitative assessment, we will perform a quantitative two-step goodwill impairment test. In the Step I test, the fair value of a reporting unit is computed and compared with its book value. If the book value of a reporting unit exceeds its fair value, a Step II test is performed in which the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded in an amount equal to that excess. The two-step goodwill impairment assessment is based upon a combination of the income approach, which estimates the fair value of our reporting units based upon a discounted cash flow approach, and the market approach which estimates the fair value of our reporting units based upon comparable market multiples. This fair value is then reconciled to our market capitalization at year end with an appropriate control premium. The determination of the fair value of our reporting units requires management to make significant estimates and assumptions including the selection of appropriate peer group companies, control premiums, discount rate, terminal growth rates, forecasts of revenue and expense growth rates, changes in working capital, depreciation, amortization and capital expenditures. Changes in assumptions concerning future financial results or other underlying assumptions could have a significant impact on either the fair value of the reporting unit or the amount of the goodwill impairment charge.

Indefinite-lived intangible assets are assessed for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. As a part of the impairment assessment, we have the option to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. If, as a result of our qualitative assessment, we determine that it is more-likely-than-not that the fair value of the indefinite-lived intangible asset is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of the intangible asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.

Long-lived assets, which consist of finite-lived intangible assets and property and equipment, are assessed for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the estimated undiscounted cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. The cash flow estimates used to determine the impairment, if any, contain management's best estimates using appropriate assumptions and projections at that time.

Stock-Based Compensation

We account for stock-based compensation in accordance with ASC Topic 718 (Compensation - Stock Compensation) which requires that employee share-based equity awards be accounted for under the fair value method and requires the use of an option pricing model for estimating fair value of stock options granted, which is then amortized to expense over the service periods. See further disclosures related to our stock-based compensation plan in Note 7.

Subsequent Events

We have made an assessment of our operations and determined that there were no material subsequent events requiring adjustment to, or disclosure in, our consolidated financial statements for the three months ended March 31, 2015.

Revenue Recognition

We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection of the related receivable is reasonably assured. Sales of our products are made through our sales employees, third-party sales representatives and distributors. There are no differences in revenue recognition policies based on the sales channel. We do not provide our customers with rights of return or exchanges. Revenue is generally recognized upon product shipment. Our customers' purchase orders do not typically contain any customer-specific acceptance criteria, other than that the product performs within the agreed upon specifications. We test all products manufactured as part of our quality assurance process to determine that they comply with specifications prior to shipment to a customer. To the extent that any customer purchase order contains customer-specific acceptance criteria, revenue recognition is deferred until customer acceptance.

In addition, in our Thermal Products and Mechanical Products segments, we lease certain of our equipment to customers under non-cancellable operating leases. These leases generally have an initial term of six months. We recognize revenue for these leases on a straight-line basis over the term of the lease.

With respect to sales tax collected from customers and remitted to governmental authorities, we use a net presentation in our consolidated statement of operations. As a result, there are no amounts included in either our net revenues or cost of revenues related to sales tax.

Product Warranties

We generally provide product warranties and record estimated warranty expense at the time of sale based upon historical claims experience. Warranty expense is included in selling expense in the consolidated financial statements.

Income Taxes

The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for operating loss and tax credit carryforwards and for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized.

Net Earnings Per Common Share

Net earnings per common share - basic is computed by dividing net earnings by the weighted average number of common shares outstanding during each period. Net earnings per common share - diluted is computed by dividing net earnings by the weighted average number of common shares and common share equivalents outstanding during each period. Common share equivalents include unvested shares of restricted stock and are calculated using the treasury stock method. Common share equivalents are excluded from the calculation if their effect is anti-dilutive.

The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive:

	Three Months Ended March 31,
	2015		2014
Weighted average common shares outstanding -- basic		10,465,414		10,393,956
Potentially dilutive securities:
Unvested shares of restricted stock		18,113		54,955
Weighted average common shares and common share equivalents outstanding -- diluted		10,483,527		10,448,911

Average number of potentially dilutive securities excluded from calculation		-		10,000

The entire disclosure for all significant accounting policies of the reporting entity.

XML 22 R28.htm IDEA: XBRL DOCUMENT

Note 3 - Goodwill and Intangible Assets (Details) - Future Amortization Expense (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015
Future Amortization Expense [Abstract]
2015 (remainder)	$ 216
2016	229
2017	212
2018	65
2019	$ 39

Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,598	$ 2,598
Accumulated Amortization	1,788	1,715
Net Carrying Amount	810us-gaap_FiniteLivedIntangibleAssetsNet	883us-gaap_FiniteLivedIntangibleAssetsNet
Gross Carrying Amount	3,108	3,108
Accumulated Amortization	1,788	1,715
Net Carrying Amount	1,320	1,393
Trademarks [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	510	510
Net Carrying Amount	510	510
Customer Relationships [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	1,480	1,480
Accumulated Amortization	1,026	979
Net Carrying Amount	454	501
Accumulated Amortization	1,026	979
Patented Technology [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	590	590
Accumulated Amortization	356	346
Net Carrying Amount	234	244
Accumulated Amortization	356	346
Computer Software, Intangible Asset [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	270	270
Accumulated Amortization	176	169
Net Carrying Amount	94	101
Accumulated Amortization	176	169
Trade Names [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	140	140
Accumulated Amortization	112	103
Net Carrying Amount	28	37
Accumulated Amortization	112	103
Order or Production Backlog [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	70	70
Accumulated Amortization	70	70
Accumulated Amortization	70	70
Noncompete Agreements [Member]
Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets [Line Items]
Gross Carrying Amount	48	48
Accumulated Amortization	48	48
Accumulated Amortization	$ 48	$ 48

XML 23 R30.htm IDEA: XBRL DOCUMENT

Note 4 - Major Customers (Details) (Hakuto Co., Ltd. [Member], Customer Concentration Risk [Member], Sales Revenue, Net [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Hakuto Co., Ltd. [Member] \| Customer Concentration Risk [Member] \| Sales Revenue, Net [Member]
Note 4 - Major Customers (Details) [Line Items]
Concentration Risk, Percentage	10.00%	11.00%

XML 24 R31.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories (Details) - Inventories (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Inventories [Abstract]
Raw materials	$ 3,023	$ 2,505
Work in process	500	406
Inventory consigned to others	119	129
Finished goods	523	729
	$ 4,165us-gaap_InventoryNet	$ 3,769us-gaap_InventoryNet

XML 25 R8.htm IDEA: XBRL DOCUMENT

Note 1 - Nature of Operations

Nature of Operations [Text Block]

Disclosure Text Block [Abstract]

(1) NATURE OF OPERATIONS

XML 26 R32.htm IDEA: XBRL DOCUMENT

Note 6 - Debt (Details) - Outstanding Letters of Credit (Letter of Credit [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Letters of Credit Amount Outstanding	$ 350	$ 350
Mt. Laurel [Member]
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Original L/C Issue Date	Mar. 29, 2010
L/C Expiration Date	Apr. 01, 2016
Lease Expiration Date	Apr. 30, 2021
Letters of Credit Amount Outstanding	250	250
Mansfield [Member]
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Original L/C Issue Date	Oct. 27, 2010
L/C Expiration Date	Nov. 08, 2015
Lease Expiration Date	Aug. 23, 2021
Letters of Credit Amount Outstanding	$ 100	$ 100

XML 27 R40.htm IDEA: XBRL DOCUMENT

Note 9 - Segment Information (Details) - Net Revenue from Unaffiliated Customers (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net revenues from unaffiliated customers:
Revenues	$ 10,188us-gaap_Revenues	$ 8,797us-gaap_Revenues
UNITED STATES
Net revenues from unaffiliated customers:
Revenues	3,489	3,149
Foreign [Member]
Net revenues from unaffiliated customers:
Revenues	$ 6,699	$ 5,648

XML 28 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Current Period Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 22,485	$ 23,126
Trade accounts receivable, net of allowance for doubtful accounts of $146 and $146, respectively	6,457us-gaap_AccountsReceivableNetCurrent	5,034us-gaap_AccountsReceivableNetCurrent
Inventories	4,165us-gaap_InventoryNet	3,769us-gaap_InventoryNet
Deferred tax assets	684	529
Prepaid expenses and other current assets	414	473
Total current assets	34,205us-gaap_AssetsCurrent	32,931us-gaap_AssetsCurrent
Property and equipment:
Machinery and equipment	4,379us-gaap_MachineryAndEquipmentGross	4,322us-gaap_MachineryAndEquipmentGross
Leasehold improvements	591us-gaap_LeaseholdImprovementsGross	593us-gaap_LeaseholdImprovementsGross
Gross property and equipment	4,970us-gaap_PropertyPlantAndEquipmentGross	4,915us-gaap_PropertyPlantAndEquipmentGross
Less: accumulated depreciation	(3,736)	(3,647)
Net property and equipment	1,234us-gaap_PropertyPlantAndEquipmentNet	1,268us-gaap_PropertyPlantAndEquipmentNet
Deferred tax assets	737	884
Goodwill	1,706us-gaap_Goodwill	1,706us-gaap_Goodwill
Intangible assets, net	1,320	1,393
Restricted certificates of deposit	350	350
Other assets	193us-gaap_OtherAssetsNoncurrent	206us-gaap_OtherAssetsNoncurrent
Total assets	39,745us-gaap_Assets	38,738us-gaap_Assets
Current liabilities:
Accounts payable	1,908us-gaap_AccountsPayableCurrent	1,234us-gaap_AccountsPayableCurrent
Accrued wages and benefits	1,330	1,528
Accrued rent	596us-gaap_AccruedRentCurrent	615us-gaap_AccruedRentCurrent
Accrued professional fees	530us-gaap_AccruedProfessionalFeesCurrent	390us-gaap_AccruedProfessionalFeesCurrent
Accrued sales commissions	368us-gaap_AccruedSalesCommissionCurrent	328us-gaap_AccruedSalesCommissionCurrent
Domestic and foreign income taxes payable	139us-gaap_TaxesPayableCurrent	22us-gaap_TaxesPayableCurrent
Other current liabilities	367us-gaap_OtherLiabilitiesCurrent	253us-gaap_OtherLiabilitiesCurrent
Total current liabilities	5,238us-gaap_LiabilitiesCurrent	4,370us-gaap_LiabilitiesCurrent
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding	0us-gaap_PreferredStockValue	0us-gaap_PreferredStockValue
Common stock, $0.01 par value; 20,000,000 shares authorized; 10,595,755 and 10,595,755 shares issued, respectively	106us-gaap_CommonStockValue	106us-gaap_CommonStockValue
Addtional paid-in capital	26,351us-gaap_AdditionalPaidInCapital	26,321us-gaap_AdditionalPaidInCapital
Retained earnings	7,590	7,152
Accumulated other comprehensive earnings	664	993
Treasury stock, at cost; 33,077 and 33,077 shares, respectively	(204)us-gaap_TreasuryStockValue	(204)us-gaap_TreasuryStockValue
Total stockholders' equity	34,507us-gaap_StockholdersEquity	34,368us-gaap_StockholdersEquity
Total liabilities and stockholders' equity	$ 39,745	$ 38,738

XML 29 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Stockholders' Equity (Unaudited) (USD $) In Thousands, except Share data	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance, January 1, 2015 at Dec. 31, 2014	$ 106	$ 26,321	$ 7,152	$ 993	$ (204)	$ 34,368us-gaap_StockholdersEquity
Balance, January 1, 2015 (in Shares) at Dec. 31, 2014	10,595,755					10,595,755us-gaap_CommonStockSharesIssued
Net earnings			438			438us-gaap_NetIncomeLoss
Other comprehensive loss				(329)		(329)
Amortization of deferred compensation related to restricted stock		30				30
Balance, March 31, 2015 at Mar. 31, 2015	$ 106	$ 26,351	$ 7,590	$ 664	$ (204)	$ 34,507us-gaap_StockholdersEquity
Balance, March 31, 2015 (in Shares) at Mar. 31, 2015	10,595,755					10,595,755us-gaap_CommonStockSharesIssued

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

Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

XML 30 R35.htm IDEA: XBRL DOCUMENT

Note 7 - Stock-based Compensation (Details) - Nonvested Shares (Restricted Stock [Member], USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock [Member]
Note 7 - Stock-based Compensation (Details) - Nonvested Shares [Line Items]
Unvested shares outstanding, January 1, 2015	101,875
Unvested shares outstanding, January 1, 2015	$ 2.82
Unvested shares outstanding, March 31, 2015	96,875
Unvested shares outstanding, March 31, 2015	$ 2.96
Vested	(5,000)
Vested	$ 2.94

XML 31 R22.htm IDEA: XBRL DOCUMENT

Note 7 - Stock-based Compensation (Tables)

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Three Months Ended March 31,
	2015		2014
Cost of revenues	$	3	$	3
Selling expense		1		3
Engineering and product development expense		2		6
General and administrative expense		24		29
	$	30	$	41

Schedule of Nonvested Share Activity [Table Text Block]

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested shares outstanding, January 1, 2015		101,875		$	2.82
Granted		-			-
Vested		(5,000	)		2.94
Forfeited		-			-
Unvested shares outstanding, March 31, 2015		96,875			2.96

XML 32 R36.htm IDEA: XBRL DOCUMENT

Note 8 - Employee Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	10.00%
Defined Contribution Plan, Maximum Annual Employer Matching Contribution per Emplyee, Amount	$ 5
Defined Contribution Plan Employer Matching Contribution Vesting Period	4 years
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 141	$ 133

XML 33 R24.htm IDEA: XBRL DOCUMENT

Note 1 - Nature of Operations (Details)	3 Months Ended
Note 1 - Nature of Operations (Details)	Mar. 31, 2015
Disclosure Text Block [Abstract]
Number of Reportable Segments	3us-gaap_NumberOfReportableSegments

XML 34 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 35 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 438us-gaap_NetIncomeLoss	$ 286us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	200	217
Provision for excess and obsolete inventory	51us-gaap_InventoryWriteDown	35us-gaap_InventoryWriteDown
Foreign exchange (gain) loss	19	(1)
Amortization of deferred compensation related to restricted stock	30	41
Proceeds from sale of demonstration equipment, net of gain	16	8
Deferred income tax expense (benefit)	(8)us-gaap_DeferredIncomeTaxExpenseBenefit	20us-gaap_DeferredIncomeTaxExpenseBenefit
Changes in assets and liabilities:
Trade accounts receivable	(1,484)	(142)
Inventories	(475)us-gaap_IncreaseDecreaseInInventories	(595)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets	50	46
Other assets	(7)	(8)
Accounts payable	676	497
Accrued wages and benefits	(170)	(407)
Accrued rent	(19)	18
Accrued professional fees	142	(38)
Accrued sales commissions	40	(2)
Domestic and foreign income taxes payable	117	(29)
Other current liabilities	121	83
Net cash provided by (used in) operating activities	(263)	29
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(179)	(200)
Net cash used in investing activities	(179)	(200)
Effects of exchange rates on cash	(199)	6
Net cash used in all activities	(641)	(165)
Cash and cash equivalents at beginning of period	23,126	19,018
Cash and cash equivalents at end of period	22,485	18,853
Cash payments for:
Domestic and foreign income taxes	124us-gaap_IncomeTaxesPaid	134us-gaap_IncomeTaxesPaid
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Forfeiture of non-vested shares of restricted stock		$ 20

XML 36 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts, respectively (in Dollars)	$ 146	$ 146
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000us-gaap_PreferredStockSharesAuthorized	5,000,000us-gaap_PreferredStockSharesAuthorized
Preferred stock, shares issued	0us-gaap_PreferredStockSharesIssued	0us-gaap_PreferredStockSharesIssued
Preferred stock, shares outstanding	0us-gaap_PreferredStockSharesOutstanding	0us-gaap_PreferredStockSharesOutstanding
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000us-gaap_CommonStockSharesAuthorized	20,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued	10,595,755us-gaap_CommonStockSharesIssued	10,595,755us-gaap_CommonStockSharesIssued
Treasury stock, at cost, shares, respectively	33,077us-gaap_TreasuryStockShares	33,077us-gaap_TreasuryStockShares

XML 37 R17.htm IDEA: XBRL DOCUMENT

Accounting Policies, by Policy (Policies)

Basis of Presentation and Use of Estimates [Policy Text Block]

Accounting Policies [Abstract]

Reclassification, Policy [Policy Text Block]

Reclassification

Certain prior period amounts have been reclassified to be comparable with the current period's presentation.

Inventory, Policy [Policy Text Block]

Goodwill Intangible and Long Lived Assets [Policy Text Block]

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Stock-Based Compensation

We account for stock-based compensation in accordance with ASC Topic 718 (Compensation - Stock Compensation) which requires that employee share-based equity awards be accounted for under the fair value method and requires the use of an option pricing model for estimating fair value of stock options granted, which is then amortized to expense over the service periods. See further disclosures related to our stock-based compensation plan in Note 7.

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

We have made an assessment of our operations and determined that there were no material subsequent events requiring adjustment to, or disclosure in, our consolidated financial statements for the three months ended March 31, 2015.

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection of the related receivable is reasonably assured. Sales of our products are made through our sales employees, third-party sales representatives and distributors. There are no differences in revenue recognition policies based on the sales channel. We do not provide our customers with rights of return or exchanges. Revenue is generally recognized upon product shipment. Our customers' purchase orders do not typically contain any customer-specific acceptance criteria, other than that the product performs within the agreed upon specifications. We test all products manufactured as part of our quality assurance process to determine that they comply with specifications prior to shipment to a customer. To the extent that any customer purchase order contains customer-specific acceptance criteria, revenue recognition is deferred until customer acceptance.

Standard Product Warranty, Policy [Policy Text Block]

Product Warranties

We generally provide product warranties and record estimated warranty expense at the time of sale based upon historical claims experience. Warranty expense is included in selling expense in the consolidated financial statements.

Income Tax, Policy [Policy Text Block]

Earnings Per Share, Policy [Policy Text Block]

Net Earnings Per Common Share

Net earnings per common share - basic is computed by dividing net earnings by the weighted average number of common shares outstanding during each period. Net earnings per common share - diluted is computed by dividing net earnings by the weighted average number of common shares and common share equivalents outstanding during each period. Common share equivalents include unvested shares of restricted stock and are calculated using the treasury stock method. Common share equivalents are excluded from the calculation if their effect is anti-dilutive.

The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive:

	Three Months Ended March 31,
	2015		2014
Weighted average common shares outstanding -- basic		10,465,414		10,393,956
Potentially dilutive securities:
Unvested shares of restricted stock		18,113		54,955
Weighted average common shares and common share equivalents outstanding -- diluted		10,483,527		10,448,911

Average number of potentially dilutive securities excluded from calculation		-		10,000

New Accounting Pronouncements, Policy [Policy Text Block]

XML 38 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2015	Apr. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	INTEST CORP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		10,562,678dei_EntityCommonStockSharesOutstanding
Amendment Flag	false
Entity Central Index Key	0001036262
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

XML 39 R18.htm IDEA: XBRL DOCUMENT

Note 2 - Summary of Significant Accounting Policies (Tables)

Schedule of Weighted Average Number of Shares [Table Text Block]

Accounting Policies [Abstract]

	Three Months Ended March 31,
	2015		2014
Weighted average common shares outstanding -- basic		10,465,414		10,393,956
Potentially dilutive securities:
Unvested shares of restricted stock		18,113		54,955
Weighted average common shares and common share equivalents outstanding -- diluted		10,483,527		10,448,911

Average number of potentially dilutive securities excluded from calculation		-		10,000

XML 40 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net revenues	$ 10,188us-gaap_Revenues	$ 8,797us-gaap_Revenues
Cost of revenues	5,270us-gaap_CostOfRevenue	4,612us-gaap_CostOfRevenue
Gross margin	4,918us-gaap_GrossProfit	4,185us-gaap_GrossProfit
Operating expenses:
Selling expense	1,487us-gaap_SellingExpense	1,326us-gaap_SellingExpense
Engineering and product development expense	942us-gaap_ResearchAndDevelopmentExpense	923us-gaap_ResearchAndDevelopmentExpense
General and administrative expense	1,807us-gaap_GeneralAndAdministrativeExpense	1,532us-gaap_GeneralAndAdministrativeExpense
Total operating expenses	4,236us-gaap_OperatingExpenses	3,781us-gaap_OperatingExpenses
Operating income	682us-gaap_OperatingIncomeLoss	404us-gaap_OperatingIncomeLoss
Other income (expense)	(11)us-gaap_OtherNonoperatingIncomeExpense	7us-gaap_OtherNonoperatingIncomeExpense
Earnings before income tax expense	671	411
Income tax expense	233us-gaap_IncomeTaxExpenseBenefit	125us-gaap_IncomeTaxExpenseBenefit
Net earnings	$ 438us-gaap_NetIncomeLoss	$ 286us-gaap_NetIncomeLoss
Net earnings per common share - basic (in Dollars per share)	$ 0.04us-gaap_EarningsPerShareBasic	$ 0.03us-gaap_EarningsPerShareBasic
Weighted average common shares outstanding - basic (in Shares)	10,465,414	10,393,956
Net earnings per common share - diluted (in Dollars per share)	$ 0.04us-gaap_EarningsPerShareDiluted	$ 0.03us-gaap_EarningsPerShareDiluted
Weighted average common shares and common share equivalents outstanding - diluted (in Shares)	10,483,527	10,448,911

XML 41 R12.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories

Inventory Disclosure [Text Block]

Inventory Disclosure [Abstract]

(5) INVENTORIES

Inventories held at March 31, 2015 and December 31, 2014 were comprised of the following:

	Mar. 31, 2015		Dec. 31, 2014
Raw materials	$	3,023	$	2,505
Work in process		500		406
Inventory consigned to others		119		129
Finished goods		523		729
	$	4,165	$	3,769

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

XML 42 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Major Customers

Concentration Risk Disclosure [Text Block]

Risks and Uncertainties [Abstract]

(4) MAJOR CUSTOMERS

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

XML 43 R23.htm IDEA: XBRL DOCUMENT

Note 9 - Segment Information (Tables)

Note 9 - Segment Information (Tables) [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended March 31,
	2015			2014
Net revenues from unaffiliated customers:
Thermal Products	$	5,717		$	5,243
Mechanical Products		2,435			2,047
Electrical Products		2,036			1,507
	$	10,188		$	8,797

Earnings (loss) before income tax expense (benefit):
Thermal Products	$	1,029		$	811
Mechanical Products		(285	)		(283	)
Electrical Products		319			5
Corporate		(392	)		(122	)
	$	671		$	411

Net earnings (loss):
Thermal Products	$	672		$	564
Mechanical Products		(186	)		(197	)
Electrical Products		208			4
Corporate		(256	)		(85	)
	$	438		$	286

Revenue from External Customers by Geographic Areas [Table Text Block]

	Three Months Ended March 31,
	2015		2014
Net revenues from unaffiliated customers:
U.S.	$	3,489	$	3,149
Foreign		6,699		5,648
	$	10,188	$	8,797

Long-lived Assets by Geographic Areas [Table Text Block]

	Mar. 31, 2015		Dec. 31, 2014
Property and equipment:
U.S.	$	712	$	621
Foreign		522		647
	$	1,234	$	1,268

Asset [Member]

Note 9 - Segment Information (Tables) [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Mar. 31, 2015		Dec. 31, 2014
Identifiable assets:
Thermal Products	$	14,899	$	26,211
Mechanical Products		21,413		7,801
Electrical Products		3,433		4,726
	$	39,745	$	38,738

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

XML 44 R19.htm IDEA: XBRL DOCUMENT

Note 3 - Goodwill and Intangible Assets (Tables)

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets [Table Text Block]

	March 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	1,026	$	454
Patented technology		590		356		234
Software		270		176		94
Trade name		140		112		28
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		48		-
Total finite-lived intangible assets		2,598		1,788		810
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	1,788	$	1,320

	December 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	979	$	501
Patented technology		590		346		244
Software		270		169		101
Trade name		140		103		37
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		48		-
Total finite-lived intangible assets		2,598		1,715		883
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	1,715	$	1,393

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

2015 (remainder)	$	216
2016	$	229
2017	$	212
2018	$	65
2019	$	39

XML 45 R15.htm IDEA: XBRL DOCUMENT

Note 8 - Employee Benefit Plans

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

(8) EMPLOYEE BENEFIT PLANS

The entire disclosure for pension and other postretirement benefits.

XML 46 R13.htm IDEA: XBRL DOCUMENT

Note 6 - Debt

Debt Disclosure [Text Block]

Debt Disclosure [Abstract]

(6) DEBT

L/C

Lease

Letters of Credit
Amount Outstanding

Original L/C
Issue Date

Expiration
Date

Mar. 31,

2015

Dec. 31,

2014

Mt. Laurel, NJ

3/29/2010

4/01/2016

4/30/2021

250

Mansfield, MA

10/27/2010

11/08/2015

8/23/2021

100

350

XML 47 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Stock-based Compensation

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(7) STOCK-BASED COMPENSATION

	Three Months Ended March 31,
	2015		2014
Cost of revenues	$	3	$	3
Selling expense		1		3
Engineering and product development expense		2		6
General and administrative expense		24		29
	$	30	$	41

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested shares outstanding, January 1, 2015		101,875		$	2.82
Granted		-			-
Vested		(5,000	)		2.94
Forfeited		-			-
Unvested shares outstanding, March 31, 2015		96,875			2.96

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

XML 48 R16.htm IDEA: XBRL DOCUMENT

Note 9 - Segment Information

Segment Reporting Disclosure [Text Block]

Segment Reporting [Abstract]

(9) SEGMENT INFORMATION

We have three reportable segments, which are also our reporting units: Thermal Products, Mechanical Products and Electrical Products.

The Thermal Products segment includes the operations of Temptronic Corporation, Thermonics, Sigma, inTEST Thermal Solutions GmbH (Germany), and inTEST Pte, Limited (Singapore). Sales of this segment consist primarily of temperature management systems which we design, manufacture and market under our Temptronic, Thermonics and Sigma product lines. In addition, this segment provides post warranty service and support.

The Mechanical Products segment includes the operations of our Mt. Laurel, New Jersey manufacturing facility. Sales of our Mechanical Products segment consist primarily of manipulator and docking hardware products, which we design, manufacture and market. In addition, this segment provides post warranty service and support.

The Electrical Products segment includes the operations of inTEST Silicon Valley Corporation. Sales of this segment consist primarily of tester interface products which we design, manufacture and market.

We operate our business worldwide, and all three segments sell their products both domestically and internationally. All three segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers. Our Thermal Products segment also sells into a variety of markets outside of the ATE market, including the automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets. Intercompany pricing between segments is either a multiple of cost for component parts or list price for finished goods.

	Three Months Ended March 31,
	2015			2014
Net revenues from unaffiliated customers:
Thermal Products	$	5,717		$	5,243
Mechanical Products		2,435			2,047
Electrical Products		2,036			1,507
	$	10,188		$	8,797

Earnings (loss) before income tax expense (benefit):
Thermal Products	$	1,029		$	811
Mechanical Products		(285	)		(283	)
Electrical Products		319			5
Corporate		(392	)		(122	)
	$	671		$	411

Net earnings (loss):
Thermal Products	$	672		$	564
Mechanical Products		(186	)		(197	)
Electrical Products		208			4
Corporate		(256	)		(85	)
	$	438		$	286

	Mar. 31, 2015		Dec. 31, 2014
Identifiable assets:
Thermal Products	$	14,899	$	26,211
Mechanical Products		21,413		7,801
Electrical Products		3,433		4,726
	$	39,745	$	38,738

The following table provides information about our geographic areas of operation. Net revenues from unaffiliated customers are based on the location to which the goods are shipped.

	Three Months Ended March 31,
	2015		2014
Net revenues from unaffiliated customers:
U.S.	$	3,489	$	3,149
Foreign		6,699		5,648
	$	10,188	$	8,797

	Mar. 31, 2015		Dec. 31, 2014
Property and equipment:
U.S.	$	712	$	621
Foreign		522		647
	$	1,234	$	1,268

XML 49 R34.htm IDEA: XBRL DOCUMENT

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

+ Details

Note 7 - Stock-based Compensation (Details) - Allocation of Share-Based Compensation Expense (Restricted Stock [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	$ 30	$ 41
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	3	3
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	1	3
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	2	6
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	$ 24	$ 29

XML 50 R21.htm IDEA: XBRL DOCUMENT

Note 6 - Debt (Tables)

Schedule Of Outstanding Letters Of Credit [Table Text Block]

Debt Disclosure [Abstract]

L/C

Lease

Letters of Credit
Amount Outstanding

Original L/C
Issue Date

Expiration
Date

Mar. 31,

2015

Dec. 31,

2014

Mt. Laurel, NJ

3/29/2010

4/01/2016

4/30/2021

250

Mansfield, MA

10/27/2010

11/08/2015

8/23/2021

100

350

XML 51 R26.htm IDEA: XBRL DOCUMENT

Note 2 - Summary of Significant Accounting Policies (Details) - Weighted Average Common Shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Weighted Average Common Shares [Abstract]
Weighted average common shares outstanding -- basic	10,465,414	10,393,956
Unvested shares of restricted stock	18,113	54,955
Weighted average common shares and common share equivalents outstanding -- diluted	10,483,527	10,448,911
Average number of potentially dilutive securities excluded from calculation		10,000

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

XML 52 R41.htm IDEA: XBRL DOCUMENT

Note 9 - Segment Information (Details) - Long-lived Assets by Geographical Area (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Note 9 - Segment Information (Details) - Long-lived Assets by Geographical Area [Line Items]
Long-lived assets	$ 1,234us-gaap_PropertyPlantAndEquipmentNet	$ 1,268us-gaap_PropertyPlantAndEquipmentNet
UNITED STATES
Note 9 - Segment Information (Details) - Long-lived Assets by Geographical Area [Line Items]
Long-lived assets	712	621
Foreign [Member]
Note 9 - Segment Information (Details) - Long-lived Assets by Geographical Area [Line Items]
Long-lived assets	$ 522	$ 647

XML 53 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Earnings (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net earnings	$ 438us-gaap_NetIncomeLoss	$ 286us-gaap_NetIncomeLoss
Foreign currency translation adjustments	(329)	4
Comprehensive earnings	$ 109us-gaap_ComprehensiveIncomeNetOfTax	$ 290us-gaap_ComprehensiveIncomeNetOfTax

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

XML 54 R10.htm IDEA: XBRL DOCUMENT

Note 3 - Goodwill and Intangible Assets

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

(3) GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 and Thermonics, Inc. ("Thermonics"), a division of Test Enterprises, Inc. in January 2012.

Goodwill

All of our goodwill is allocated to our Thermal Products segment. There was no change in the amount of the carrying value of goodwill for the three months ended March 31, 2015.

Intangible Assets

The following tables provide further detail about our intangible assets as of March 31, 2015 and December 31, 2014:

	March 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	1,026	$	454
Patented technology		590		356		234
Software		270		176		94
Trade name		140		112		28
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		48		-
Total finite-lived intangible assets		2,598		1,788		810
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	1,788	$	1,320

	December 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	979	$	501
Patented technology		590		346		244
Software		270		169		101
Trade name		140		103		37
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		48		-
Total finite-lived intangible assets		2,598		1,715		883
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	1,715	$	1,393

We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our intangible assets have any residual value.

Total amortization expense for the three months ended March 31, 2015 and 2014 was $73 and $93, respectively. The following table sets forth the estimated annual amortization expense for our finite-lived intangible assets for each of the next five years:

2015 (remainder)	$	216
2016	$	229
2017	$	212
2018	$	65
2019	$	39

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.

XML 55 R27.htm IDEA: XBRL DOCUMENT

Note 3 - Goodwill and Intangible Assets (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Period Increase (Decrease)	$ 0us-gaap_GoodwillPeriodIncreaseDecrease
Amortization of Intangible Assets	$ 73,000us-gaap_AmortizationOfIntangibleAssets	$ 93,000us-gaap_AmortizationOfIntangibleAssets

Note 9 - Segment Information (Details) - Segment Information (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net revenues from unaffiliated customers:
Net revenues from unaffiliated customers	$ 10,188us-gaap_Revenues	$ 8,797us-gaap_Revenues
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	671	411
Net earnings (loss):
Net earnings (loss)	438us-gaap_NetIncomeLoss	286us-gaap_NetIncomeLoss
Thermal Products [Member]
Net revenues from unaffiliated customers:
Net revenues from unaffiliated customers	5,717	5,243
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	1,029	811
Net earnings (loss):
Net earnings (loss)	672	564
Mechanical Products [Member]
Net revenues from unaffiliated customers:
Net revenues from unaffiliated customers	2,435	2,047
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	(285)	(283)
Net earnings (loss):
Net earnings (loss)	(186)	(197)
Electrical Products [Member]
Net revenues from unaffiliated customers:
Net revenues from unaffiliated customers	2,036	1,507
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	319	5
Net earnings (loss):
Net earnings (loss)	208	4
Corporate Segment [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	(392)	(122)
Net earnings (loss):
Net earnings (loss)	$ (256)	$ (85)

XML 58 R20.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories (Tables)