Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

Income before income taxes was generated in the United States and globally as follows:

(in thousands)	2023		2022		2021
Domestic	$	7,444	$	11,971	$	771
Foreign		14,081		11,718		3,903
	$	21,525	$	23,689	$	4,674

Schedule of Income Tax Provision

Income tax expense (benefit) consisted of the following for the years ended December 31:

(in thousands)	2023			2022			2021
Current:
Federal	$	3,939		$	5,009		$	354
State		1,100			836			278
Foreign		2,107			1,755			1,972
		7,147			7,600			2,604
Deferred:
Federal		(495	)		(3,001	)		426
State		(208	)		(231	)		45
Foreign		580			1,058			(384	)
		(123	)		(2,174	)		87
	$	7,024		$	5,426		$	2,691

The income tax expense (benefit) differs from the statutory rate due to the following:

(in thousands)	2023			2022			2021
Tax expense at statutory rate	$	4,488		$	4,975		$	981
Increase (decrease) in tax resulting from:
State income tax, net of federal benefit		541			340			334
Other permanent differences		290			383			(147	)
Impact of rate differences and adjustments		(1,046	)		565			876
United States tax credits and incentives		(532	)		(626	)		300
Foreign tax credits and incentives		(812	)		(895	)		(265	)
Change in valuation allowance		1,782			(526	)		(489	)
Foreign withholding taxes on repatriation of foreign earnings		(592	)		139			244
Earnout expense (income)		85			(48	)		233
Equity compensation		460			339			169
Excess compensation		360			11			—
Provision-to-return adjustments		528			(189	)		127
Investment in joint venture		(155	)		375			237
Net effect GILTI and FDII		1,400			565			—
Other		227			18			91
	$	7,024		$	5,426		$	2,691

Schedule of Net Deferred Tax Assets and Liabilities

Deferred income taxes reflect the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and tax credit carry forwards. The net deferred tax liabilities consisted of the following at December 31:

(in thousands)	2023			2022
Gross deferred tax assets:
Accrued expenses	$	729		$	692
Reserves on assets		2,769			2,228
Share-based compensation awards		372			452
Minimum pension		920			1,247
Net operating loss carry-forwards		3,785			3,142
Tax credit carry-forwards		2,302			2,349
Investment in joint venture		926			815
Leases		3,699			2,564
Research and development costs		3,857			3,224
Other		—			69
Total gross deferred tax assets		19,359			16,782
Valuation allowances		(6,545	)		(4,950	)
	$	12,814		$	11,832
Gross deferred tax liabilities:
Depreciation		(1,809	)		(727	)
Goodwill and intangibles		(14,299	)		(13,310	)
Prepaid expenses and inventory		(95	)		(783	)
Withholding tax on unremitted foreign earnings		(662	)		(1,254	)
Leases		(3,571	)		(2,564	)
Revenue recognition		(694	)		(1,031	)
Other		(218	)		—
		(21,348	)		(19,669	)
Net deferred tax liabilities	$	(8,534	)	$	(7,837	)

Schedule of Reconciliation of Uncertain Tax Position

A reconciliation of the beginning and ending amount of uncertain tax position reserves included in other liabilities on the Consolidated Balance Sheets is as follows:

(in thousands)	2023		2022
Balance as of January 1,	$	144	$	141
Additions for tax positions taken in prior years		7		3
Balance as of December 31,	$	151	$	144