Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

	Year ended December 31,
	2020		2019		2018
	(in thousands)
United States	$	25,308	$	17,989	$	22,256
Foreign		2,048		3,690		6,188
Total	$	27,356	$	21,679	$	28,444

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

	Year ended December 31,
	2020			2019		2018
				(in thousands)
Current:
Federal	$	4,594		$	1,501	$	4,262
State		806			304		673
Foreign		1,064			1,116		2,718
		6,464			2,921		7,653
Deferred:
Federal		(397	)		538		(1,512	)
State		(48	)		144		(145	)
Foreign		117			142		(495	)
		(328	)		824		(2,152	)
Provision for income taxes	$	6,136		$	3,745	$	5,501

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2020			2019		2018
	(in thousands)
Unrecognized tax benefits at the beginning of year	$	848		$	711	$	525
Additions for tax positions of current year		-			74		73
Additions for tax positions of prior years		37			63		113
Reductions for settlements with taxing authorities.		(65	)		-		-
Reductions for lapses of the applicable statutes of limitations		-			-		-
Unrecognized tax benefits at the end of the year	$	820		$	848	$	711

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

	As of December 31,
	2020			2019
	(in thousands)
Deferred tax assets:
Inventory	$	1,629		$	840
Net operating loss carryforwards		1,348			1,289
Tax credit carryforwards		1,019			944
Capital loss carryforwards		521			277
Reserves and accruals		994			787
Operating lease liabilities		3,664			3,343
Intangible assets		4,386			2,764
Stock options		359			342
Other		105			20
Total deferred tax assets		14,025			10,606
Deferred tax liabilities:
Property and equipment		(1,831	)		(1,520	)
Goodwill		(4,055	)		(3,459	)
Operating lease right-of-use assets		(3,503	)		(3,224	)
Foreign branch deferred offset		(954	)		(923	)
Other		(299	)		(187	)
Total deferred tax liabilities		(10,642	)		(9,313	)
Net deferred tax assets before valuation allowance		3,383			1,293
Valuation allowance		(1,824	)		(1,388	)
Net deferred tax liabiltity	$	1,559		$	(95	)
Deferred tax classification
Long-term deferred tax asset	$	1,686		$	1,084
Long-term deferred tax liability		(127	)		(1,179	)
Net long-term deferred tax liability	$	1,559		$	(95	)

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

	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		21.0	%
State tax, net of federal benefit		2.2	%		1.9	%		1.4	%
Effect of foreign taxes		1.1	%		2.1	%		3.8	%
Federal tax on foreign income		0.4	%		0.8	%		1.4	%
Valuation allowance		1.4	%		0.6	%		(3.2	%)
Foreign deferred tax liability offset		(0.2	%)		(0.4	%)		(0.3	%)
Manufacturing deduction		0.0	%		0.0	%		0.0	%
Research & development tax credits		(0.6	%)		(1.2	%)		(0.7	%)
Stock options		(2.3	%)		(8.8	%)		(3.3	%)
Uncertain tax positions		0.3	%		1.0	%		0.8	%
Other permanent differences		(0.6	%)		0.5	%		(0.7	%)
Change in tax laws		0.0	%		0.0	%		0.0	%
Deferred tax remeasurement		0.0	%		0.0	%		0.0	%
Other		(0.3	%)		(0.2	%)		(0.9	%)
Effective tax rate		22.4	%		17.3	%		19.3	%

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	Year ended December 31,
	2020		2019		2018
	(in thousands)
Cash paid for income taxes, net	$	4,470	$	4,817	$	5,521