Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

	Years Ended December 31,
	2023		2022
Domestic	$	9,600	$	9,575
Foreign		1,448		570
Total	$	11,048	$	10,145

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

	Years Ended December 31,
	2023			2022
Current
Domestic – Federal	$	2,139		$	2,892
Domestic – state		202			263
Foreign		522			267
Total	$	2,863		$	3,422
Deferred
Domestic – Federal	$	(1,052	)	$	(1,344	)
Domestic – state		31			(190	)
Foreign		(136	)		(204	)
Total		(1,157	)		(1,738	)
Income tax expense	$	1,706		$	1,684

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

	December 31,
	2023			2022
Deferred tax assets:
Capitalized research and development costs	$	2,320		$	1,260
Operating lease liabilities		859			1,125
Accrued vacation pay and stock-based compensation		433			465
Inventories		395			602
Intangible assets		369			140
Net operating loss (state and foreign)		245			285
Acquisition costs		44			46
Allowance for doubtful accounts		44			43
Accrued warranty		26			54
Tax credit carryforwards		-			89
Other		62			-
Total		4,797			4,109
Valuation allowance		(245	)		(227	)
Deferred tax assets		4,552			3,882
Deferred tax liabilities:
Intangible assets		(1,949	)		(2,101	)
Right-of-use assets		(762	)		(996	)
Depreciation of property and equipment		(404	)		(385	)
Other		-			(120	)
Deferred tax liabilities		(3,115	)		(3,602	)
Net deferred tax assets	$	1,437		$	280

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

	Years Ended December 31,
	2023			2022
Expected income tax expense at U.S. statutory rate	$	2,320		$	2,131
Increase (decrease) in tax from:
Dividend from foreign subsidiaries		184			127
NOL carryforwards utilized		39			(80	)
Stock compensation		(329	)		77
Global intangible low taxed income		87			66
Nondeductible expenses		21			11
Current year tax credits (foreign and research)		(367	)		(465	)
Domestic tax benefit, net of Federal benefit		(167	)		87
Changes in valuation allowance		18			163
Foreign income tax rate differences		109			147
Section 250 foreign derived intangible income deduction		(272	)		(563	)
Other		63			(17	)
Income tax expense	$	1,706		$	1,684