Note 9 - Accrued Expenses

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

9. ACCRUED EXPENSES

Accrued expenses consist of the following:

	March 31,		December 31,
	2025		2024
Salaries, bonuses and related benefits	$	23,114	$	32,478
Accrued restructuring costs		1,315		5,823
Sales commissions		2,546		2,616
Warranty accrual		1,374		1,554
Other		9,435		10,560
	$	37,784	$	53,031

The change in warranty accrual during the three months ended March 31, 2025 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the three months ended March 31, 2025.

Restructuring Activities:

Activity and liability balances related to restructuring costs for the three months ended March 31, 2025 are as follows:

			Three Months Ended
			March 31, 2025
	Liability at					Cash Payments			Liability at
	December 31,		New			and Other			March 31,
	2024		Charges			Settlements			2025
Severance costs	$	1,276	$	228		$	(822	)	$	682
Other restructuring costs		4,547		(3,161	)		(753	)		633
Total	$	5,823	$	(2,933	)	$	(1,575	)	$	1,315

The balance of accrued restructuring costs at March 31, 2025 largely related to remaining liabilities associated with the Company's facility consolidation project in the PRC whereby two of our Magnetic Solutions manufacturing sites were consolidated into a single new site. During the first quarter of 2025, the Company recorded a $3.2 million reversal of other restructuring costs as a result of a non-cash settlement of liabilities related to this same project.