Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	Years Ended December 31,
(in thousands)	2024			2023
Domestic	$	4,889		$	9,600
Foreign		(1,435	)		1,448
Total	$	3,454		$	11,048

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

	Years Ended December 31,
(in thousands)	2024			2023
Current
Domestic – Federal	$	1,221		$	2,139
Domestic – state		230			202
Foreign		(71	)		522
Total	$	1,380		$	2,863
Deferred
Domestic – Federal	$	(1,186	)	$	(1,052	)
Domestic – state		(262	)		31
Foreign		631			(136	)
Total		(817	)		(1,157	)
Income tax expense	$	563		$	1,706

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

	December 31,
(in thousands)	2024			2023
Deferred tax assets:
Capitalized research and development costs	$	3,272		$	2,320
Operating lease liabilities		1,870			859
Accrued vacation pay and stock-based compensation		532			433
Inventories		434			395
Foreign intangible assets		403			369
Net operating loss (state and foreign)		381			245
Acquisition costs		43			44
Allowance for credit losses		45			44
Accrued warranty		25			26
Other		151			62
Total		7,156			4,797
Valuation allowance		(261	)		(245	)
Deferred tax assets		6,895			4,552
Deferred tax liabilities:
Intangible assets		(4,673	)		(1,949	)
Right-of-use assets		(1,821	)		(762	)
Depreciation of property and equipment		(334	)		(404	)
Deferred tax liabilities		(6,828	)		(3,115	)
Net deferred tax assets	$	67		$	1,437

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

	Years Ended December 31,
(in thousands)	2024			2023
Expected income tax expense at U.S. statutory rate	$	726		$	2,320
Increase (decrease) in tax from:
Subpart F income from foreign subsidiaries		145			184
NOL carryforwards utilized		(136	)		39
Stock compensation		201			(329	)
Global intangible low taxed income		-			87
Nondeductible expenses		17			21
Current year tax credits (foreign and research)		(364	)		(367	)
Domestic tax benefit, net of Federal benefit		321			(167	)
Changes in valuation allowance		16			18
Foreign income tax rate differences		96			109
Section 250 foreign derived intangible income deduction		(537	)		(272	)
Acquisition costs		71			-
Other		7			63
Income tax expense	$	563		$	1,706