Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Years Ended December 31,
	2022		2021
Domestic	$	9,575	$	7,372
Foreign		570		1,030
Total	$	10,145	$	8,402

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Years Ended December 31,
	2022			2021
Current
Domestic – Federal	$	2,892		$	1,208
Domestic – state		263			140
Foreign		267			259
Total	$	3,422		$	1,607
Deferred
Domestic – Federal	$	(1,344	)	$	(387	)
Domestic – state		(190	)		(31	)
Foreign		(204	)		(70	)
Total		(1,738	)		(488	)
Income tax expense	$	1,684		$	1,119

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2022			2021
Deferred tax assets:
Capitalized research and development costs	$	1,260		$	-
Operating lease liabilities		1,125			1,407
Inventories		602			387
Accrued vacation pay and stock-based compensation		465			354
Net operating loss (state and foreign)		285			205
Allowance for doubtful accounts		43			45
Accrued warranty		54			31
Acquisition costs		46			9
Tax credit carryforwards		89			17
Other		-			49
Total		3,969			2,504
Valuation allowance		(227	)		(64	)
Deferred tax assets		3,742			2,440
Deferred tax liabilities:
Net intangible assets		(1,961	)		(2,381	)
Right-of-use assets		(996	)		(1,245	)
Depreciation of property and equipment		(385	)		(193	)
Other		(120	)		-
Deferred tax liabilities		(3,462	)		(3,819	)
Net deferred tax assets (liabilities)	$	280		$	(1,379	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years Ended December 31,
	2022			2021
Expected income tax expense at U.S. statutory rate	$	2,131		$	1,764
Increase (decrease) in tax from:
Acquisition costs		-			163
Dividend from foreign subsidiaries		127			146
NOL carryforwards utilized		(80	)		56
Restricted stock compensation		77			(126	)
Global intangible low taxed income		66			28
Nondeductible expenses		11			8
Current year tax credits (foreign and research)		(465	)		(386	)
Domestic tax benefit, net of Federal benefit		87			153
Changes in valuation allowance		163			(105	)
Foreign income tax rate differences		147			9
Section 250 foreign derived intangible income deduction		(563	)		(599	)
Other		(17	)		8
Income tax expense	$	1,684		$	1,119