Note H - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	For Years Ended December 31 (in thousands)
	2024			2023			2022
Current:
Federal	$	12,299		$	9,314		$	7,389
State		1,439			(252	)		167
		13,738			9,062			7,556
Deferred:
Federal		(4,486	)		(1,509	)		(2,157	)
State		(42	)		319			(154	)
		(4,528	)		(1,190	)		(2,311	)
Total tax provision	$	9,210		$	7,872		$	5,245

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

	Percent of Pre-tax Income
	2024			2023			2022
Statutory rate		21.0	%		21.0	%		21.0	%
State tax, net of federal benefit		2.2	%		0.1	%		0.0	%
Research and development credit		(1.3	%)		(1.8	%)		(2.1	%)
Adjustment for prior year estimates		(2.9	%)		(0.6	%)		1.2	%
Foreign-derived intangible income		(0.2	%)		(0.3	%)		(0.2	%)
Tax exempt interest and dividends		0.0	%		0.0	%		(0.1	%)
Other		(0.7	%)		0.2	%		0.4	%
Effective rate		18.1	%		18.6	%		20.2	%

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

	(In thousands)
	2024		2023
Deferred tax assets
Research and development expenses	$	5,630	$	3,215
Inventory		3,215		969
Lease liabilities		2,286		2,348
State NOL and tax credit carryforwards		2,091		1,534
Insurance (primarily product liability)		1,089		1,128
Vacation		979		904
Other		981		1,794
Subtotal		16,271		11,892
Less: valuation allowance		1,599		954
Total deferred tax assets		14,672		10,938
Deferred tax liabilities
Right-of-use lease asset		2,286		2,348
Goodwill and other intangibles		1,469		1,921
Depreciation		581		860
Deferred revenue		9		6
Total deferred tax liabilities		4,345		5,135
Net deferred tax assets	$	10,327	$	5,803

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

	(In thousands)
	2024			2023
Balance at January 1	$	2,481		$	2,458
Increases for tax positions taken related to the current year		694			544
Increases (decrease) for tax positions taken related to prior years		(51	)		70
Lapse of statute of limitations		(1,002	)		(530	)
Settlements		-			(61	)
Balance at December 31	$	2,122		$	2,481