Note 4 - Property, Plant and Equipment

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

4. Property, Plant and Equipment

	March 31,			December 31,
(in thousands)	2025			2024
Buildings and building improvements	$	9,045		$	9,020
Machinery, equipment and tooling		15,803			15,768
Construction in progress		400			216
		25,248			25,004
Less accumulated depreciation and amortization		(18,217	)		(17,999	)
Property, plant and equipment, net	$	7,031		$	7,005

Depreciation and amortization expense amounted to approximately $218,000 and $271,000 for the three-month periods ended March 31, 2025 and 2024, respectively. Amortization expense related to Right of Use (“ROU”) assets amounted to approximately $6,000 for the three-month periods ended March 31, 2025 and 2024, respectively.  

The Company’s ROU assets included in machinery, equipment and tooling had a net book value of approximately $130,000 and $136,000 as of  March 31, 2025 and December 31, 2024, respectively.

As of March 31, 2025, there is approximately $400,000 ($216,000 as of December 31, 2024) of construction in progress included in property, plant and equipment; all of which is related to capital projects for machinery and equipment of $104,000, building improvements of $71,000, and IT equipment of $225,000.