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Note 17 - Quarterly Consolidated Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
(
17
)
QUARTERLY CONSOLIDATED FINANCIAL DATA (Unaudited)
 
The following tables present certain unaudited consolidated quarterly financial information for each of the
eight
quarters ended
December 31, 2017.
In our opinion, this
quarterly information has been prepared on the same basis as the consolidated financial statements and includes all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the information for the periods presented. The results of operations for any quarter are
not
necessarily indicative of results for the full year or for any future period.  
 
Year-over-year quarterly comparisons of our results of operations
may
not
be as meaningful as the sequential quarterly comparisons s
et forth below that tend to reflect the cyclical and seasonal activity of the semiconductor and ATE markets. Quarterly fluctuations in expenses are related directly to sales activity and volume and
may
also reflect the timing of operating expenses incurred throughout the year.
 
   
Quarters Ended
    
 
 
 
   
3/31/17
    
6/30/17
    
9/30/17
(1)
    
12/31/17
(2)
(3)
    
Total
  
Net revenues
   $
14,180
     $
15,888
     $
17,352
     $
19,381
     $
66,801
  
Gross margin
    
7,728
      
8,421
      
8,796
      
9,745
      
34,690
  
Earnings
(loss) before income tax expense
    
3,172
      
2,336
      
2,841
      
(4,511
 )    
3,838
  
Income tax expense
    
1,094
      
891
      
823
      
55
      
2,863
  
Net earnings
(loss)
    
2,078
      
1,445
      
2,018
      
(4,566
 )    
975
  
                                         
Net earnings
(loss)per common share - basic
   $
0.20
     $
0.14
     $
0.20
     $
(0.44
 )   $
0.09
  
Weighted average common
shares outstanding - basic
    
10,264,565
      
10,277,155
      
10,288,325
      
10,308,243
      
10,284,572
  
Net earnings
(loss) per common share - diluted
   $
0.20
     $
0.14
     $
0.19
     $
(0.44
 )   $
0.09
  
Weighted average common shares outstanding - diluted
    
10,295,337
      
10,334,894
      
10,351,009
      
10,308,243
      
10,339,313
  
 
   
Quarters Ended
    
 
 
 
   
3/31/16
    
6/30/16
    
9/30/16
    
12/31/16
    
Total
  
Net revenues
   $
8,647
     $
10,485
     $
10,823
     $
10,272
     $
40,227
  
Gross margin
    
4,067
      
5,329
      
5,577
      
5,405
      
20,378
  
Earnings before income tax expense
    
124
      
749
      
1,721
      
1,613
      
4,207
  
Income tax expense
    
43
      
263
      
631
      
612
      
1,549
  
Net earnings
    
81
      
486
      
1,090
      
1,001
      
2,658
  
                                         
Net earnings per common share - basic
   $
0.01
     $
0.05
     $
0.11
     $
0.10
     $
0.26
  
Weighted average common shares outstanding - basic
    
10,390,002
      
10,295,836
      
10,295,447
      
10,273,702
      
10,313,747
  
Net earnings per common share - diluted
   $
0.01
     $
0.05
     $
0.11
     $
0.10
     $
0.26
  
Weighted average common shares outstanding - diluted
    
10,404,244
      
10,310,692
      
10,318,715
      
10,297,439
      
10,332,920
  
 
 
(
1
)
The quarter ended
September 30, 2017
include
s a
$549
reduction in the fair value of contingent consideration, which was
not
taxable
.
 
(
2
)
The quarter ended
December 31, 2017
include
s a
$7,525
increase in the fair value of contingent consideration, which was
not
deductible for tax purposes
.
 
(
3
)
The quarter ended
December 31, 2017
include
s adjustments related to tax legislation enacted in
December 2017,
as discussed in Note
2
and
11.