SUPPLEMENTAL BALANCE SHEET INFORMATION

Fair Value Measurements and Disclosures

The fair value of financial instruments approximated their carrying values at

March 31, 2020

and

December 31, 2019.

The fair value of cash, trade accounts receivable, trade accounts payable, accrued liabilities, and the current portion of long-term debt approximates carrying value due to the short-term nature of these instruments. The carrying value of long-term debt approximates fair value, as the variable interest rates approximate current market rates.

Cash

The composition of the Company’s cash was as follows:

	March 31 ,		December 31,
	20 20		201 9
Cash	$	5,862	$	7,135
Restricted cash		247		270
Total	$	6,109	$	7,405

As of

March 31, 2020

and

December 31, 2019,

restricted cash included

$166

and

$188,

respectively, relating to a government grant awarded in the People’s Republic of China to fund specified technological research and development initiatives. The grant proceeds are realized to income as a direct offset to expense as the related expenditures are incurred. For the

three

-month period ended

March 31, 2020,

grant proceeds of

$20

were realized to income. As of

March 31, 2020

and

December 31, 2019,

restricted cash included euro-denominated deposits of

$81

and

$82,

respectively, withheld by the Dutch tax authorities and

third

-party VAT representatives in connection with a previously utilized logistics arrangement in the Netherlands. Restricted cash is included as a component of the cash balance for purposes of the consolidated statements of cash flows.

Inventories

Inventories are stated at the lower of cost or market, net of obsolescence reserves, with cost determined under the

first

-in,

first

-out (FIFO) method. The composition of inventories, net was:

	March 31 ,		December 31 ,
	20 20		201 9
Raw materials	$	18,354	$	18,485
Work in process		3,036		2,548
Finished goods		7,589		8,726
Total	$	28,979	$	29,759

Property, Plant and Equipment, Net

Major classes of property, plant and equipment consisted of the following:

	March 31 ,			December 31,
	20 20			201 9
Land	$	1,273		$	1,273
Buildings and leasehold improvements		8,096			8,148
Machinery and equipment		62,239			62,562
Furniture and fixtures		2,105			2,112
Computer hardware and software		6,520			6,528
Construction in process		5,078			4,730
		85,311			85,353
Less: Accumulated depreciation		(63,272	)		(62,828	)
Property, plant and equipment, net	$	22,039		$	22,525

Depreciation expense for property, plant and equipment was

$579

and

$447

for the

three

-month periods ended

March 31, 2020

and

March 31, 2019,

respectively.

Goodwill

The following table summarizes the goodwill activity by segment for the

three

-month period ended

March 31, 2020.

	Battery & Energy			Communications
	Products			Systems		Total
Balance – December 31, 2019		15,260			11,493		26,753
Effect of foreign currency translation		(285	)		-		(285	)
Balance – March 31, 2020	$	14,975		$	11,493	$	26,468

Other Intangible Assets, Net

The composition of other intangible assets was:

	at March 31 , 20 20
			Accumulated
	Cost		Amortization		Net
Trademarks	$	3,402	$	-	$	3,402
Customer relationships		8,922		4,768		4,154
Patents and technology		5,458		4,874		584
Distributor relationships		377		377		-
Trade name		1,487		222		1,265
Total	$	19,646	$	10,241	$	9,405

	at December 31, 201 9
			Accumulated
	Cost		Amortization		Net
Trademarks	$	3,403	$	-	$	3,403
Customer relationships		9,080		4,721		4,359
Patents and technology		5,521		4,869		652
Distributor relationships		377		377		-
Trade name		1,511		204		1,307
Total	$	19,892	$	10,171	$	9,721

The change in the cost of total intangible assets from

December 31, 2019

March 31, 2020

is a result of the effect of foreign currency translations.

Amortization expense for intangible assets was

$149

and

$92

for the

three

-month periods ended

March 31, 2020

and

March 31, 2019,

respectively. Amortization included in research and development expenses was

$31

and

$33

for the

three

-month periods ended

March 31, 2020

and

March 31, 2019,

respectively. Amortization included in selling, general and administrative expenses was

$118

and

$59

for the

three

-month periods ended

March 31, 2020

and

March 31, 2019,

respectively.