Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 05, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001123494 | ||
Entity Registrant Name | HARVARD BIOSCIENCE INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-33957 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 04-3306140 | ||
Entity Address, Address Line One | 84 October Hill Road | ||
Entity Address, City or Town | Holliston | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 01746 | ||
City Area Code | 508 | ||
Local Phone Number | 893-8999 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | HBIO | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 116,000,000 | ||
Entity Common Stock, Shares Outstanding | 39,825,533 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 8,317 | $ 8,335 |
Accounts receivable, net | 17,766 | 20,704 |
Inventories | 22,262 | 22,061 |
Other current assets | 3,355 | 2,472 |
Total current assets | 51,700 | 53,572 |
Property, plant and equipment, net | 3,960 | 4,776 |
Operating lease right-of-use assets | 7,761 | 8,463 |
Goodwill | 58,590 | 57,381 |
Intangible assets, net | 33,151 | 38,405 |
Other long-term assets | 1,092 | 2,273 |
Total assets | 156,254 | 164,870 |
Current liabilities: | ||
Current portion of long-term debt | 1,721 | 6,900 |
Current portion of operating lease liabilities | 2,111 | 2,424 |
Accounts payable | 5,972 | 5,339 |
Deferred revenue | 3,771 | 3,949 |
Other current liabilities | 7,478 | 6,700 |
Total current liabilities | 21,053 | 25,312 |
Long-term debt | 46,286 | 46,917 |
Deferred tax liability | 1,899 | 1,974 |
Operating lease liabilities | 7,481 | 8,224 |
Other long-term liabilities | 2,854 | 749 |
Total liabilities | 79,573 | 83,176 |
Commitments and contingencies - Note 15 | ||
Stockholders' equity: | ||
Preferred stock, par value $0.01 per share, 5,000,000 shares authorized | 0 | 0 |
Common stock, par value $0.01 per share, 80,000,000 shares authorized; 47,152,587 and 45,933,715 shares issued and 39,407,080 and 38,188,208 shares outstanding, respectively | 444 | 438 |
Additional paid-in-capital | 232,357 | 229,189 |
Accumulated deficit | (132,386) | (124,576) |
Accumulated other comprehensive loss | (13,066) | (12,689) |
Treasury stock at cost, 7,745,507 common shares | (10,668) | (10,668) |
Total stockholders' equity | 76,681 | 81,694 |
Total liabilities and stockholders' equity | $ 156,254 | $ 164,870 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 80,000,000 | 80,000,000 |
Common stock, shares issued (in shares) | 47,152,587 | 45,933,715 |
Common stock, shares outstanding (in shares) | 39,407,080 | 38,188,208 |
Treasury stock, common shares (in shares) | 7,745,507 | 7,745,507 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 102,100 | $ 116,176 |
Cost of revenues | 44,059 | 51,854 |
Gross margin | 58,041 | 64,322 |
Operating expenses: | ||
Sales and marketing expenses | 19,916 | 23,264 |
General and administrative expenses | 23,509 | 22,760 |
Research and development expenses | 8,685 | 10,715 |
Amortization of intangible assets | 5,710 | 5,746 |
Impairment charges | 0 | 1,460 |
Total operating expenses | 57,820 | 63,945 |
Operating income | 221 | 377 |
Other expense: | ||
Interest expense | (4,831) | (5,410) |
Debt extinguishment and related costs | (1,876) | 0 |
Other expense, net | (806) | (469) |
Total other expense | (7,513) | (5,879) |
Loss before income taxes | (7,292) | (5,502) |
Income tax expense (benefit) | 518 | (815) |
Net loss | $ (7,810) | $ (4,687) |
Loss per share: | ||
Basic and diluted loss per share (in dollars per share) | $ (0.20) | $ (0.12) |
Weighted-average common shares: | ||
Basic and diluted (in shares) | 38,640 | 37,814 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net loss | $ (7,810) | $ (4,687) |
Other comprehensive income (loss): | ||
Foreign currency translation adjustments | 1,700 | (543) |
Derivatives qualifying as hedges, net of tax: | ||
Loss on derivative instruments designated and qualifying as cash flow hedges | (206) | (572) |
Amounts reclassified from accumulated other comprehensive loss to net loss | 809 | 139 |
Derivatives qualifying as hedges, net of tax | 603 | (433) |
Defined benefit pension plans, net of tax: | ||
Net (loss) gain | (2,785) | 1,258 |
Amounts reclassified from accumulated other comprehensive loss to net loss | 105 | 561 |
Defined benefit pension plans, net of tax | (2,680) | 1,819 |
Other comprehensive (loss) income | (377) | 843 |
Comprehensive loss | $ (8,187) | $ (3,844) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 45,124,000 | |||||
Balance at Dec. 31, 2018 | $ 436 | $ 226,377 | $ (119,889) | $ (13,532) | $ (10,668) | $ 82,724 |
Stock option exercises (in shares) | 4,000 | 3,750 | ||||
Stock option exercises | $ 0 | 11 | 0 | 0 | 0 | $ 11 |
Shares issued under stock purchase plan (in shares) | 191,000 | 190,642 | ||||
Shares issued under stock purchase plan | $ 2 | 323 | 0 | 0 | 0 | $ 325 |
Vesting of restricted stock units (in shares) | 818,000 | |||||
Vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | 0 |
Shares withheld for taxes (in shares) | (203,000) | |||||
Shares withheld for taxes | $ 0 | (556) | 0 | 0 | 0 | (556) |
Stock compensation expense | 0 | 3,034 | 0 | 0 | 0 | 3,034 |
Net loss | 0 | 0 | (4,687) | 0 | 0 | (4,687) |
Other comprehensive income | $ 0 | 0 | 0 | 843 | 0 | 843 |
Balance (in shares) at Dec. 31, 2019 | 45,934,000 | |||||
Balance at Dec. 31, 2019 | $ 438 | 229,189 | (124,576) | (12,689) | (10,668) | $ 81,694 |
Stock option exercises (in shares) | 254,000 | 253,853 | ||||
Stock option exercises | $ 4 | 318 | 0 | 0 | 0 | $ 322 |
Shares issued under stock purchase plan (in shares) | 126,000 | 126,255 | ||||
Shares issued under stock purchase plan | $ 2 | 345 | 0 | 0 | 0 | $ 347 |
Vesting of restricted stock units (in shares) | 1,171,000 | |||||
Vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | 0 |
Shares withheld for taxes (in shares) | (332,000) | |||||
Shares withheld for taxes | $ 0 | (1,142) | 0 | 0 | 0 | (1,142) |
Stock compensation expense | 0 | 3,647 | 0 | 0 | 0 | 3,647 |
Net loss | 0 | 0 | (7,810) | 0 | 0 | (7,810) |
Other comprehensive income | $ 0 | 0 | 0 | (377) | 0 | (377) |
Balance (in shares) at Dec. 31, 2020 | 47,153,000 | |||||
Balance at Dec. 31, 2020 | $ 444 | $ 232,357 | $ (132,386) | $ (13,066) | $ (10,668) | $ 76,681 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (7,810) | $ (4,687) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 1,922 | 1,987 |
Amortization of intangible assets | 5,710 | 5,746 |
Amortization of deferred financing costs | 393 | 385 |
Write-off of unamortized deferred financing costs | 787 | 0 |
Debt extinguishment cost | 599 | 0 |
Stock-based compensation expense | 3,647 | 3,034 |
Impairment charges | 0 | 1,460 |
Provision for allowance for doubtful accounts | 17 | 288 |
Deferred income taxes | (143) | (398) |
Other | 103 | 188 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 3,105 | 468 |
Inventories | 413 | 3,260 |
Other assets | 293 | 165 |
Accounts payable | 511 | (2,048) |
Deferred revenue | (184) | 121 |
Other liabilities | (32) | (1,924) |
Net cash provided by operating activities | 9,331 | 8,045 |
Cash flows from investing activities: | ||
Additions to property, plant and equipment | (1,152) | (1,216) |
Disposition of business | 0 | 1,002 |
Other | (250) | (15) |
Net cash used in investing activities | (1,402) | (229) |
Cash flows from financing activities: | ||
Proceeds from issuance of debt | 61,315 | 4,300 |
Repayments of debt | (66,912) | (11,703) |
Debt issuance cost | (1,298) | 0 |
Debt extinguishment cost | (599) | 0 |
Taxes paid for net share settlement of equity awards | (473) | (221) |
Net cash used in financing activities | (7,967) | (7,624) |
Effect of exchange rate changes on cash | 20 | (30) |
(Decrease) Increase in cash and cash equivalents | (18) | 162 |
Cash and cash equivalents at beginning of year | 8,335 | 8,173 |
Cash and cash equivalents at end of year | 8,317 | 8,335 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 4,881 | 5,496 |
Cash paid for income taxes, net of refunds | $ 416 | $ 374 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Organization Harvard Bioscience, Inc., a Delaware corporation, is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental research, discovery, and preclinical testing for drug development. The Company’s products and services are sold globally to customers ranging from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in North America, Europe and China, the Company has sales through a combination of direct and distribution channels to customers around the world. Risks and Uncertainties On March 11, 2020, 19 19 19 As a result of these market and economic conditions, the Company performed an analysis for potential impairment indicators of its intangible and other long-lived assets in accordance with the guidelines set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, 360, December 31, 2020, no 19 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies (a) Principles of Consolidation The consolidated financial statements include the accounts of Harvard Bioscience, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. (b) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for inventory excess and obsolescence, income tax and reserves for bad debts. In addition, certain estimates are required in order to determine the value of assets and liabilities associated with acquisitions, as well as the Company’s defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates. (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with original maturities of three may not not (d) Allowance for Doubtful Accounts The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on considering factors such as historical experience, credit quality, known troubled accounts, historical experience, factors that may (e) Inventories The Company values its inventories at the lower of the actual cost to purchase ( first first (f) Property, Plant and Equipment Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows: Machinery and equipment (years) 3 - 10 Computer equipment and software (years) 3 - 7 Furniture and fixtures (years) 5 - 10 Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset. (g) Leases The Company accounts for its leases in accordance with ASC 842 12 not The Company has assessed its contracts and concluded that its leases consist of operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not (h) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% (i) Foreign Currency Translation The functional currency of the Company’s foreign subsidiaries is generally their local currency. All assets and liabilities of its foreign subsidiaries are translated at exchange rates in effect at period-end. Income and expenses are translated at rates which approximate those in effect on the transaction dates. The resulting translation adjustment is recorded as a separate component of stockholders’ equity in accumulated other comprehensive (loss) income (“AOCI”) in the consolidated balance sheets. Gains and losses resulting from foreign currency transactions are included in net (loss) income. (j) Earnings per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods presented. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options and other potentially dilutive securities using the treasury stock method unless the effect is antidilutive. (k) Comprehensive (Loss) Income In accordance with ASC 220, (l) Revenue Recognition Nature of contracts and customers The Company’s contracts are primarily of short duration and are mostly based on the receipt and fulfilment of purchase orders. The purchase orders are binding and include pricing and all other relevant terms and conditions. The Company’s customers are primarily research scientists at pharmaceutical and biotechnology companies, universities, hospitals, government laboratories, including the United States National Institutes of Health (NIH) and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer (OEM) customers who incorporate its products into their products under their own brands. Performance obligations The Company’s performance obligations under its revenue contracts consist of its instruments, equipment, accessories, services, maintenance and extended warranties. Equipment also includes software that functions together with the tangible equipment to deliver its essential functionality. Contracts with customers may not Instruments, equipment and accessories consist of a range of products that are used in life sciences research. Revenues from the sales of these items are recognized when transfer of control of these products to the customer occurs. Transfer of control occurs when the Company has a right to payment, and the customer has legal title to the asset and the customer or their selected carrier has possession, which is typically upon shipment. Sales on these items are therefore generally recognized at a point in time. The Company’s equipment revenue also includes the sale of wireless implantable monitors that are used for life science research purposes. The Company sells these wireless implantable monitors to pharmaceutical companies, contract research organizations and academic laboratories. In addition to sales generated from new and existing customers, these implantable devices are also sold under a program called the “exchange program.” Under this program, customers may may, no may may not 606. Service revenues consist of installation, training, data analysis, and surgeries performed on research animals. Maintenance revenue consists of post-contract support provided in relation to software that is embedded within the equipment that is sold to the customer. The Company provides standard warranties that promise the customer that the product will work as promised. These standard warranties are not one one For sales for which transfer of control occurs upon shipment, the Company accounts for shipping and handling costs as fulfilment costs. As such, the Company records the amounts billed to the customer for shipping costs as revenue and the costs within cost of revenues upon shipment. For sales, for which control transfers to customers after shipment, the Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods to the customer. The Company therefore accrues for the costs of shipping undelivered items in the period of shipment. Revenues expected to be recognized related to any and all remaining performance obligations are generally expected to be recognized in one one Variable Consideration The nature of the Company's contracts gives rise to certain types of variable consideration, including in limited cases volume and payment discounts. The Company analyzes sales that could include variable consideration and estimates the expected or most likely amount of revenue after returns, trade-ins, discounts, rebates, credits, and incentives. Product returns are estimated and accrued for, based on historical information. In making these estimates, the Company considers whether the amount of variable consideration is constrained and is included in revenue only to the extent that it is probable that a significant reversal of the revenue recognized will not not The Company’s payment terms are generally from zero sixty Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues. Deferred revenue The Company records deferred revenue when cash is collected from customers prior to satisfaction of the Company’s performance obligation to the customer. Deferred revenue consists of amounts deferred related to service contracts and revenue deferred as a result of payments received in advance from customers. Deferred revenue is generally expected to be recognized within one The amounts included in deferred revenue from advanced payments relate to amounts that are prepaid for wireless implantable monitors under the exchange program. The Company has made the judgment that these payments do not Advanced payments received from customers are recorded as a liability, and revenue is recognized when the Company’s performance obligations are completed. Performance obligations are completed when the product is shipped or delivered to the customer, or at the end of the exchange program if goods are not Disaggregation of revenue Refer to Note 13 16 (m) Valuation of Identifiable Intangible Assets Acquired in Business Combinations The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in the Company’s acquisitions, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or not (n) Goodwill and Other Intangible Assets Goodwill and unamortizable intangible assets acquired in a business combination and determined to have an indefinite useful life are not 350, For the purpose of its goodwill analysis, the Company has one fourth not December 31, 2020, none The Company evaluates indefinite-lived intangible assets for impairment annually and when events occur, or circumstances change that may 4 (o) Impairment of Long-Lived Assets The Company assesses recoverability of its long-lived assets that are held for use, such as property, plant and equipment and amortizable intangible assets in accordance with ASC 360, may not December 31, 2020, none (p) Derivatives The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not not The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. The Company discontinues hedge accounting prospectively when it determines that the derivative is no not In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings. When it is probable that a forecasted transaction will not (q) Fair Value of Financial Instruments The carrying values of the Company’s cash and cash equivalents, trade accounts receivable and trade accounts payable and short-term debt approximate their fair values because of the short maturities of those instruments. The fair value of the Company’s long-term debt approximates its carrying value and is based on the amount of future cash flows associated with the debt discounted using current borrowing rates for similar debt instruments of comparable maturity. Financial reporting standards define a fair value hierarchy that consists of three § Level 1 § Level 2 not § Level 3 (r) Stock-based Compensation The Company accounts for stock-based payment awards in accordance with the provisions of ASC 718, 2000 Stock-based compensation expense recognized is based on the value of the portion of stock-based payment awards that is ultimately expected to vest. The Company values stock-based payment awards, except restricted stock units at grant date using the Black-Scholes option-pricing model. The Company values restricted stock units with a market condition using a Monte-Carlo valuation simulation. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model or Monte-Carlo valuation simulation is affected by the Company’s stock price as well as assumptions regarding certain variables. These variables include, but are not The fair value of restricted stock units is based on the market price of the Company’s stock on the date of grant and are recorded as compensation expense on a straight-line basis over the applicable service period, which ranges from one four Stock-based compensation expense recognized under ASC 718 December 31, 2020 2019 10 (s) Recent Accounting Pronouncements Accounting Pronouncements to be Adopted In September 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 Instruments (ASU 2016 13 may 2016 13 2016 13 December 15, 2022, 2016 13 In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 2019 12 2019 12 January 1, 2021. not |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. Accumulated Other Comprehensive Loss Changes in the components of accumulated other comprehensive loss, net of tax, for the years ended December 31, 2020 2019, Foreign currency Derivatives translation qualifying as Defined benefit (in thousands) adjustments hedges pension plans Total Balance at December 31, 2018 $ (12,630 ) $ (170 ) $ (732 ) $ (13,532 ) Other comprehensive income (loss) before reclassifications (543 ) (572 ) 1,258 143 Amounts reclassified from AOCI - 139 561 700 Net other comprehensive (loss) income (543 ) (433 ) 1,819 843 Balance at December 31, 2019 $ (13,173 ) $ (603 ) $ 1,087 $ (12,689 ) Other comprehensive income (loss) before reclassifications 1,700 (206 ) (2,785 ) (1,291 ) Amounts reclassified from AOCI - 809 105 914 Net other comprehensive (loss) income 1,700 603 (2,680 ) (377 ) Balance at December 31, 2020 $ (11,473 ) $ - $ (1,593 ) $ (13,066 ) The amounts reclassified out of accumulated other comprehensive (loss) income are as follows: Affected line item in the Year Ended December 31, (in thousands) Statements of Operations 2020 2019 Amounts Reclassified From AOCI Derivatives qualifying as hedges Realized loss on derivatives qualifying as hedges Interest expense, net $ 319 $ 139 Realized loss on derivatives qualifying as hedges Debt extinguishment and related costs 490 - Income tax Income tax (benefit) expense - - 809 139 Defined benefit pension plans Amortization of net losses included in net periodic pension costs General and administrative expenses 105 561 Income tax Income tax (benefit) expense - - 105 561 Total reclassifications $ 914 $ 700 |
Note 4 - Goodwill and Intangibl
Note 4 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 4. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill for the year ended December 31, 2020 2019 December 31, (in thousands) 2020 2019 Balance at beginning of year $ 57,381 $ 57,304 Effect of change in currency translation 1,209 77 Balance at end of year $ 58,590 $ 57,381 December 31, 2020 2019 Weighted (in thousands) Amortizable intangible assets: Average Life* (Years) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Distribution agreements/customer relationships 8.8 $ 18,237 $ (7,746 ) $ 10,491 $ 17,891 $ (6,340 ) $ 11,551 Existing technology 5.2 38,761 (20,674 ) 18,087 41,222 (19,698 ) 21,524 Trade names and patents 5.4 8,681 (4,362 ) 4,319 7,910 (3,715 ) 4,195 Total amortizable intangible assets $ 65,679 $ (32,782 ) $ 32,897 $ 67,023 $ (29,753 ) $ 37,270 Indefinite-lived intangible assets: 254 1,135 Total intangible assets $ 33,151 $ 38,405 * Weighted average life as of December 31, 2020. During the year ended December 31, 2020, 2020 During the year ended December 31, 2019, Intangible asset amortization expense was $5.7 million for each of the years ended December 31, 2020 2019, five December 31, 2020 Amortization Year Ending December 31, Expense (in thousands) 2021 $ 5,774 2022 5,740 2023 5,627 2024 5,318 2025 4,204 Thereafter 6,234 Total $ 32,897 |
Note 5 - Balance Sheet Informat
Note 5 - Balance Sheet Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 5. Balance Sheet Information The following tables provide details of selected balance sheet items as of the periods indicated: Inventories: December 31, (in thousands) 2020 2019 Finished goods $ 4,938 $ 5,561 Work in process 3,513 3,153 Raw materials 13,811 13,347 Total $ 22,262 $ 22,061 Other Current Liabilities: December 31, (in thousands) 2020 2019 Compensation $ 3,715 2,554 Professional fees 432 395 Warranty costs 185 252 Customer related costs 1,093 963 Interest 46 425 Accrued income taxes 286 609 Other 1,721 1,502 Total $ 7,478 $ 6,700 Property, Plant and Equipment: December 31, (in thousands) 2020 2019 Machinery and equipment $ 7,450 $ 7,198 Computer equipment and software 9,114 8,954 Leasehold improvements 2,540 2,151 Furniture and fixtures 1,353 1,321 Automobiles 100 92 20,557 19,716 Less: accumulated depreciation (16,597 ) (14,940 ) Property, plant and equipment, net $ 3,960 $ 4,776 |
Note 6 - Restructuring and Othe
Note 6 - Restructuring and Other Exit Costs | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 6. Restructuring and Other Exit Costs On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify operational efficiencies, enhance commercial capabilities and align its cost base and infrastructure with customer needs and its strategic plans. In order to realize these opportunities, the Company undertakes restructuring-type activities from time to time to transform its business. During 2019, first 2021. The following table summarizes the activity for accrued restructuring liability for the years ended December 31, 2020 2019: Cost of Severance (in thousands) Revenue Costs Impairment Other Total Restructuring and other exit costs $ 235 $ 530 $ 460 $ 129 $ 1,354 Non-cash charges (235 ) - (460 ) (10 ) (705 ) Cash payments - (166 ) - (115 ) (281 ) Balance at December 31, 2019 - 364 - 4 368 Restructuring and other exit costs - 1,625 - 408 2,033 Non-cash charges - - - (168 ) (168 ) Cash payments - (1,719 ) - (226 ) (1,945 ) Balance at December 31, 2020 $ - $ 270 $ - $ 18 $ 288 As of December 31, 2020, twelve During the year ended December 31, 2019, Restructuring costs of $2.0 million incurred during the year ended December 31, 2020, December 31, 2019, |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 7. Related Party Transactions In connection with the 2014 September 30, 2019, December 31, 2024. December 31, 2020 2019, |
Note 8 - Employee Benefit Plans
Note 8 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 8. Employee Benefit Plans The Company sponsors profit sharing retirement plans for its U.S. employees, which includes employee savings plans established under Section 401 “401 401 401 December 31, 2020 2019, 401 The Company’s subsidiary in the United Kingdom, Biochrom Limited maintains contributory, defined benefit or defined contribution pension plans for substantially all of its employees. In 2014, 715 20 715 20 not The components of the Company’s net period benefit (credit) expense were as follows: Year Ended December 31, (in thousands) 2020 2019 Interest cost $ 391 $ 484 Expected return on plan assets (733 ) (761 ) Net amortization loss 105 336 Recognition of net loss due to settlements 22 228 Net periodic benefit (credit) cost $ (215 ) $ 287 The measurement date is December 31 December 31, 2020 2019 December 31, (in thousands) 2020 2019 Change in benefit obligation: Balance at beginning of year $ 20,027 $ 18,701 Interest cost 391 484 Actuarial loss 4,814 1,513 Settlements due to transfers paid (205 ) (871 ) Benefits paid (476 ) (447 ) Currency translation adjustment 968 647 Balance at end of year $ 25,519 $ 20,027 Changes in the actuarial loss disclosed above are primarily the result of changes in the discount rate and inflation assumptions due to underlying market conditions. December 31, (in thousands) 2020 2019 Change in fair value of plan assets: Balance at beginning of year $ 21,114 $ 17,819 Actual return on plan assets 1,690 3,172 Employer contributions 901 831 Settlement due to transfers paid (159 ) (931 ) Benefits paid (476 ) (447 ) Currency translation adjustment 856 670 Balance at end of year $ 23,926 $ 21,114 December 31, (in thousands) 2020 2019 Benefit obligation $ (25,519 ) $ (20,027 ) Fair value of plan asset 23,926 21,114 Net funded status $ (1,593 ) $ 1,087 The amounts recognized in the consolidated balance sheets consist of: December 31, (in thousands) 2020 2019 Other long term (liabilities) assets $ (1,593 ) $ 1,087 Deferred income taxes - - Accumulated other comprehensive loss $ (1,593 ) $ 1,087 The weighted average assumptions used in determining the net pension cost for these plans follows: Year Ended December 31, 2020 2019 Discount rate 1.4 % 2.02 % Expected return on assets 3.45 % 3.84 % The discount rate assumptions used for pension accounting reflect the prevailing rates available on high-quality, fixed-income debt instruments with terms that match the average expected duration of the Company’s defined benefit pension plan obligations. The Company’s mix of pension plan investments among asset classes also affects the long-term expected rate of return on plan assets. As of December 31, 2020, 15 The fair value and asset allocations of the Company’s pension benefits as of December 31, 2020 2019 December 31, (in thousands) 2020 2019 Asset category: Equity securities $ 12,047 50 % $ 11,534 55 % Debt securities 4,605 19 % 3,919 19 % Liability driven investment funds 5,168 22 % 3,615 17 % Cash and cash equivalents 1,860 8 % 1,514 7 % Other 246 1 % 532 3 % Total $ 23,926 100 % $ 21,114 100 % Financial reporting standards define a fair value hierarchy that consists of three December 31, 2020 2019 December 31, (in thousands) 2020 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) $ 1,860 $ 1,514 Significant Other Observable Inputs (Level 2) 22,066 19,600 Significant Other Unobservable Inputs (Level 3) - - Total $ 23,926 $ 21,114 Level 1 December 31, 2020. 2 not The Company expects to contribute at least $1.0 million to its pension plans during 2021. 2021, 2022, 2023, 2024 2025. five 2026—2030 |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 9. Leases The Company has noncancelable operating leases for office space, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030. The components of lease expense for the year ended December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Operating lease cost $ 2,153 $ 2,084 Short term lease cost 175 245 Sublease income (183 ) (429 ) Total lease cost $ 2,145 $ 1,900 Supplemental cash flow information related to the Company’s operating leases was as follows: Year Ended December 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: $ 2,717 $ 2,530 Right-of-use assets obtained in exchange for lease obligations: $ 455 $ 177 Supplemental balance sheet information related to the Company’s operating leases was as follows: December 31, (in thousands) 2020 2019 Operating lease right-of use assets $ 7,761 $ 8,463 Current portion, operating lease liabilities $ 2,111 $ 2,424 Operating lease liabilities, long term 7,481 8,224 Total operating lease liabilities $ 9,592 $ 10,648 Weighted average remaining lease term (in years) 7.4 8.1 Weighted average discount rate 9.3 % 9.2 % Future minimum lease payments for operating leases, with initial or remaining terms in excess of one December 31, 2020, (in thousands) Operating Leases 2021 $ 2,111 2022 2,018 2023 1,970 2024 1,715 2025 1,000 Thereafter 4,854 Total lease payments 13,668 Less interest (4,076 ) Total operating lease liabilities $ 9,592 |
Note 10 - Capital Stock and Sto
Note 10 - Capital Stock and Stock-based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 10. Capital Stock and Stock-Based Compensation Preferred Stock The Company’s Board of Directors has the authority to issue up to 5.0 million shares of preferred stock and to determine the price privileges and other terms of the shares. The Board of Directors may December 31, 2020, Employee Stock Purchase Plan Under the ESPP participating employees can authorize the Company to withhold a portion of their base pay during consecutive six six June 30 December 31. May 16, 2019, December 31, 2020 2019, December 31, 2020, 2000 Incentive Plan ) The stockholders of the Company have approved the Incentive Plan which authorizes the grant of stock options and stock-based awards to officers, employees, non-employee directors and other key persons of the Company and its subsidiaries. During 2020, 2020 December 31, 2020, Restricted Stock Units with a Market Condition (the Market Condition RSUs) The Compensation Committee of the Board of Directors of the Company approves and grants deferred stock awards of Market Condition RSUs (the Market Condition RSUs) to certain members of the Company’s management team under the Incentive Plan. The vesting of the Market Condition RSUs is based on a graded-vesting schedule ( one third three one 20 As of December 31, 2020, Stock-Based Payment Awards The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC 718, no Stock option and restricted stock unit activity under the Company’s Incentive Plan for the years ended December 31, 2020 2019 Stock Options Restricted Stock Units Market Condition RSU's Weighted Stock Average Restricted Market Options Exercise Stock Units Grant Date Condition RSU's Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2018 1,956,732 $ 4.25 1,233,762 $ 3.36 116,944 $ 4.19 Granted 943,424 3.28 1,652,720 2.31 605,005 1.98 Exercised (3,750 ) 2.98 - - - - Vested (RSUs) - - (813,762 ) 3.29 (3,778 ) 4.19 Cancelled/Forfeited (630,284 ) 3.96 (482,270 ) 3.42 (188,680 ) 4.18 Balance at December 31, 2019 2,266,122 3.93 1,590,450 2.27 529,491 1.67 Granted 894,154 2.61 1,027,486 2.75 332,622 2.98 Exercised (253,853 ) 3.94 - - - - Vested (RSUs) - - (930,985 ) 2.41 (240,205 ) 1.53 Cancelled/Forfeited (269,084 ) 3.68 (126,490 ) 3.13 (41,932 ) 3.04 Market Condition RSU - factor adjustment - - - - 233,055 1.47 Balance at December 31, 2020 2,637,339 $ 3.51 1,560,461 $ 2.44 813,031 $ 2.12 For Market Condition RSUs granted during the year ended December 31, 2019, 2020 December 31, 2020. Earnings per share Basic earnings per share is based upon net income divided by the number of weighted average common shares outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, restricted stock units and Market Condition RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted earnings per share consists of the following: Year Ended December 31, 2020 2020 2019 Basic 38,640,284 37,813,580 Dilutive effect of equity awards - - Diluted 38,640,284 37,813,580 The Company has excluded from the shares used in calculating the diluted earnings per common share options, restricted stock units and Market Condition RSUs totaling 5,010,931 and 4,386,063, as of December 31, 2020 2019 The Company’s policy is to issue stock available from its registered but unissued stock pool through its transfer agent to satisfy stock option exercises and vesting of the restricted stock units. The following table summarizes outstanding and exercisable options as of December 31, 2020 ( Options Outstanding Options Exercisable Weighted Weighted Average Average Remaining Weighted Remaining Weighted Range of Contractual Average Aggregate Contractual Average Aggregate Exercise Number Life Exercise Intrinsic Shares Life Exercise Intrinsic Price Outstanding in Years Price Value Exercisable in Years Price Value $1.78 - 2.62 357,018 7.5 $ 2.27 $ 723 96,488 4.8 $ 2.29 $ 193 2.63 - 2.66 717,044 6.4 2.63 1,190 179,264 6.4 2.63 298 2.67 - 3.92 568,784 7.1 3.33 545 348,704 6.2 3.36 323 3.93 - 4.38 587,693 2.9 4.23 35 587,693 2.9 4.23 35 4.39 - 5.63 406,800 4.3 5.37 - 401,800 4.3 5.38 - $1.78 - 5.63 2,637,339 5.6 $ 3.51 $ 2,493 1,613,949 4.5 $ 4.04 $ 849 The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $4.29 as of December 31, 2020, December 31, 2020 not December 31, 2019. December 31, 2020 As of December 31, 2020, not Valuation and Expense Information under Stock-Based-Payment Accounting Stock-based compensation expense related to stock options, restricted stock units, Market Condition RSU’s and the ESPP for the years ended December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Cost of revenues $ 65 $ 43 Sales and marketing expenses 263 119 General and administrative expenses 3,122 2,710 Research and development expenses 197 162 Total stock-based compensation expenses $ 3,647 $ 3,034 The Company did not The weighted-average estimated fair value per share of stock options granted during the year ended December 31, 2020 2019 2020 2019 Volatility 58.3 % 48.1 % Risk-free interest rate 0.3 % 2.1 % Expected holding period (in years) 4.4 4.7 Dividend Yield - % - % The weighted average estimated fair value per share of the Market Condition RSUs granted during the year ended December 31, 2020 2019 2020 2019 Volatility 80.6 % 59 % Risk-free interest rate 0.2 % 2 % Correlation coefficient 31.5 % 23.6 % Dividend Yield - % - % The Company used historical volatility to calculate the expected volatility. Historical volatility was determined by calculating the mean reversion of the daily adjusted closing stock price. The risk-free interest rate assumption is based upon observed U.S. Treasury bill interest rates (risk-free) appropriate for the term of the Company’s stock options. The expected holding period of stock options represents the period of time options are expected to be outstanding and were based on historical experience. The vesting period ranges from one four ten |
Note 11 - Long Term Debt
Note 11 - Long Term Debt | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 11. Long Term Debt As of December 31, 2020 December 31, 2019, December 31, (in thousands) 2020 2019 Term loan $ 40,000 $ 54,997 Revolving line 9,400 - Less: unamortized deferred financing costs (1,393 ) (1,180 ) Total debt 48,007 53,817 Less: current installments (2,000 ) (3,200 ) Less: excess cash flow sweep - (4,093 ) Current unamortized deferred financing costs 279 393 Long-term debt $ 46,286 $ 46,917 The aggregate amounts of debt maturing during the next five (in thousands) 2021 $ 2,000 2022 3,000 2023 3,000 2024 4,000 2025 37,400 $ 49,400 On December 22, 2020, none December 22, 2025. December 31, 2020, The Credit Agreement replaces the Company’s prior credit facility (the “Prior Credit Facility”) for which Cerberus Business Finance, LLC, served as collateral agent and administrative agent. The Prior Credit Facility consisted of a revolving credit facility and a term loan and was scheduled to expire on January 31, 2023. December 22, 2020, Borrowings under the Citizens Credit Facility will, at the option of the Company, bear interest at either (i) a rate per annum based on LIBOR for an interest period of one, two, three six no Commencing on March 31, 2021, three eight ninety December 31, 2021 may The Credit Agreement requires the Company pay (i) a fee on the average daily unused amount of the revolving loan of the Citizens Credit Facility payable at a rate which varies from 0.25% to 0.50% depending on the Company’s consolidated net leverage ratio, as determined in accordance with the Pricing Grid, (ii) a fee for each outstanding letter of credit at a rate per annum equal to the applicable interest rate margin for LIBOR Loans, as determined in accordance with the Pricing Grid, multiplied by the average daily amount available to be drawn under such letter of credit, and (iii) to the letter-of-credit issuer, a fronting fee which shall be at a rate agreed upon by the Company and the Lenders based on the average daily amount of the outstanding aggregate letter-of-credit obligations under the Credit Agreement. The Credit Agreement includes customary affirmative, negative, and financial covenants binding on the Company. The negative covenants limit the ability of the Company, among other things, to incur debt, incur liens, make investments, sell assets and pay dividends on its capital stock. The financial covenants include a maximum consolidated net leverage ratio and a minimum consolidated fixed charge coverage ratio, each of which will be tested at the end of each fiscal quarter of the Company. The Credit Agreement also includes customary events of default. As of December 31, 2020, On April 18, 2020, April 23, 2020, May 4, 2020. Derivatives The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not not By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, the Company is not Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may The Company uses variable-rate LIBOR debt to finance its operations. The debt obligations expose the Company to variability in interest payments due to changes in interest rates. Management believes that it is prudent to limit the variability of a portion of its interest payments. To meet this objective, management enters into LIBOR based interest rate swap agreements to manage fluctuations in cash flows resulting from changes in the benchmark interest rate of LIBOR. These swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives LIBOR based variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the notional amount of its debt hedged. On January 31, 2018, January 1, 2023 815 In connection with the Credit Agreement entered into on December 22, 2020, The following table presents the notional amount and fair value of the Company’s derivative instruments as of December 31, 2019. 31-Dec-19 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long-term liabilities $ 28,821 $ (603 ) (a) See Note 12 All of the Company’s derivative instruments are designated as hedging instruments. The Company has structured its interest rate swap agreements to be 100% no 815, The following table summarizes the effect of derivatives designated as cash flow hedging instruments and their classification within comprehensive loss for the years ended December 31, 2020 2019: Derivatives in Hedging Relationships Amount of gain (loss) recognized in OCI on derivative (effective portion) Year Ended December 31, (in thousands) 2020 2019 Interest rate swaps $ (206 ) $ (572 ) The following table summarizes the reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2020 2019: Details about AOCI Components Amount reclassified from AOCI into income (effective portion) Year Ended December 31, Location of amount reclassified (in thousands) 2020 2019 into income (effective portion) Interest rate swaps $ 319 $ 139 Interest expense Interest rate swaps settlement 490 - Debt extinguishment and related costs Total $ 809 $ 139 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 12. Fair Value Measurements The following tables present the fair value hierarchy for those assets or liabilities measured at fair value on a recurring basis: Fair Value as of December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities) Interest rate swap agreements $ - $ (603 ) $ - $ (603 ) The Company uses the market approach technique to value its financial liabilities. The Company’s financial assets and liabilities carried at fair value include, when applicable, derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s interest rate swap agreements was based on LIBOR yield curves at the reporting date. The Company had no interest rate swap agreements outstanding as of December 31, 2020, December 22, 2020, 11. |
Note 13 - Revenues
Note 13 - Revenues | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 13. Revenues The following table represents a disaggregation of revenue from contracts with customers for the years ended December 31, 2020 2019: Year Ended December 31, (in thousands) 2020 2019 Instruments, equipment, software and accessories $ 97,473 $ 110,220 Service, maintenance and warranty contracts 4,627 5,956 Total revenues $ 102,100 $ 116,176 Deferred revenue Changes in deferred revenue from service contracts and advance payments from customers for the years ended December 31, 2020 2019 Year Ended December 31, 2020 Service Customer (in thousands) Contracts Advances Total Balance, beginning of period $ 1,587 $ 2,362 $ 3,949 Deferral of revenue 3,329 1,302 4,631 Recognition of deferred revenue (3,298 ) (1,522 ) (4,820 ) Effect of foreign currency translation 11 - 11 Balance, end of period $ 1,629 $ 2,142 $ 3,771 Year Ended December 31, 2019 Service Customer (in thousands) Contracts Advances Total Balance, beginning of period $ 1,659 $ 2,161 $ 3,820 Deferral of revenue 2,152 1,095 3,247 Recognition of deferred revenue (2,233 ) (894 ) (3,127 ) Effect of foreign currency translation 9 - 9 Balance, end of period $ 1,587 $ 2,362 $ 3,949 Allowance for Doubtful Accounts Allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. A rollforward of allowance for doubtful accounts is as follows: Year Ended December 31, (in thousands) 2020 2019 Balance, beginning of period $ 325 $ 332 Bad debt expense 17 288 Charge-offs and other recoveries (124 ) (293 ) Effect of foreign currency translation 9 (2 ) Balance, end of period $ 227 $ 325 Concentrations No 10% December 31, 2020, 2019. December 31, 2020 2019, no 10% Warranties Warranties are estimated and accrued at the time revenues are recorded. A rollforward of the Company’s product warranty accrual is as follows: Beginning (Charges)\ Ending (in thousands) Balance Additions Credits Balance Year ended December 31, 2019 $ 391 10 (149 ) $ 252 Year ended December 31, 2020 $ 252 77 (143 ) $ 186 |
Note 14 - Income Tax
Note 14 - Income Tax | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income Tax Income tax expense (benefit) for years ended December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Current income tax (benefit) expense: Federal and state $ 169 $ (707 ) Foreign 492 290 661 (417 ) Deferred income tax (benefit) expense: Federal and state 245 (281 ) Foreign (388 ) (117 ) (143 ) (398 ) Total income tax (benefit) expense $ 518 $ (815 ) The effective tax rate for the year ended December 31, 2020 14.9% 2019. Income tax benefit for the years ended December 31, 2020 2019 21% Year Ended December 31, (in thousands) 2020 2019 Computed "expected" income tax benefit $ (1,531 ) 21.0 % $ (1,161 ) 21.0 % Increase (decrease) in income taxes resulting from: Permanent differences, net 141 (1.9 )% 241 (4.4 )% Foreign tax rate differential (14 ) 0.2 % 42 (0.8 )% State income taxes, net of federal income tax benefit (77 ) 1.1 % (74 ) 1.3 % Non-deductible stock compensation expense 94 (1.3 )% 205 (3.7 )% Tax credits (192 ) 2.6 % 220 (4.0 )% Change in reserve for uncertain tax position 259 (3.6 )% (111 ) 2.0 % Impact of change to prior year tax accruals 168 (2.3 )% 314 (5.7 )% Change in valuation allowance allocated to income tax 2,130 (29.2 )% (578 ) 10.5 % Other (460 ) 6.3 % 87 (1.4 )% Total income tax expense (benefit) $ 518 (7.1 )% $ (815 ) 14.8 % The Company’s policy is to account for Global Intangible Low-Taxed income (GILTI) as a period cost. Income tax (benefit) expense is based on the following pre-tax (loss) income from operations: Year Ended December 31, (in thousands) 2020 2019 Domestic $ (7,954 ) $ (5,616 ) Foreign 662 114 Total $ (7,292 ) $ (5,502 ) The tax effects of temporary differences that give rise to significant components of the deferred tax assets and deferred tax liabilities at December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Deferred income tax assets: Inventory $ 1,144 $ 1,079 Operating loss and credit carryforwards 19,220 18,802 Accrued expenses 555 654 Deferred interest expense 1,476 1,475 Stock compensation 1,079 1,011 Lease liability 1,823 2,081 Other assets 458 223 Total gross deferred assets 25,755 25,325 Less: valuation allowance (16,682 ) (13,745 ) Deferred tax assets: $ 9,073 $ 11,580 Deferred income tax liabilities: Indefinite-lived intangible assets $ 1,822 $ 2,048 Definite-lived intangible assets 7,493 9,168 Right-of-use asset 1,388 1,580 Other Liabilities 14 507 Total deferred tax liabilities 10,717 13,303 Deferred income tax liability, net $ (1,644 ) $ (1,723 ) Deferred income tax assets and liabilities by classification on the consolidated balance sheets were as follows: Year Ended December 31, (in thousands) 2020 2019 Deferred tax assets (included in other long-term assets) $ 255 $ 251 Deferred income tax liabilities (1,899 ) (1,974 ) Deferred income tax liability, net $ (1,644 ) $ (1,723 ) As of December 31, 2020 2019, December 31, 2020 December 31, 2019 2020 December 31, 2020 2019 At December 31, 2020, 2021 2037, 2021 2040. 2021, 2021. not 2017 2021. may one 382 383. As of December 31, 2020 December 31, 2019, December 31, 2020, At December 31, 2020 2019 (in thousands) Balance at December 31, 2018 $ 1,860 Additions based on tax positions of prior years 68 Decreases based on tax positions of prior years (133 ) Additions based on tax positions of current years 21 Settlements (398 ) Decreases based on tax positions of acquired entities (65 ) Balance at December 31, 2019 1,353 Additions based on tax positions of prior years 157 Decreases based on tax positions of prior years (11 ) Additions based on tax positions of current years 213 Settlements (39 ) Balance at December 31, 2020 $ 1,673 In 2019, 2020, two The Company anticipates that the total unrecognized tax benefits will be reduced within the next 12 not December 31, 2020 2019, The Company or one no 2016. 2001 no On March 27, 2020, 163j 50% 30% 2019 2020. December 31, 2017, 2018, no December 31, 2020. 50% December 31, 2021, 50% December 31, 2022. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15. Commitments and Contingent Liabilities On April 14, 2017, 2013, third third 2012 2013. The Company is involved in various other claims and legal proceedings arising in the ordinary course of business. After consultation with legal counsel, the Company has determined that the ultimate disposition of such proceedings is not not not one |
Note 16 - Segment and Related I
Note 16 - Segment and Related Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16. Segment and Related Information Operating segments are determined by products and services provided by each segment, internal organization structure, the manner in which operations are managed, criteria used by the Chief Operating Decision Maker, or CODM, to assess the segment performance, as well as resource allocation and the availability of discrete financial information. The Company has one The following tables summarize additional selected financial information of the Company’s operations by geographic location. Revenue by geographic destination consist of the following: Year Ended December 31, (in thousands) 2020 2019 United States $ 42,054 $ 47,792 Europe 29,938 35,128 Asia 23,884 25,041 Rest of the world 6,224 8,215 Total revenues $ 102,100 $ 116,176 Long-lived assets by geographic area consist of the following: December 31, (in thousands) 2020 2019 United States $ 36,568 $ 41,993 Germany 4,958 5,468 Rest of the world 3,092 3,048 Total long-lived assets (a) $ 44,618 $ 50,509 (a) consists of operating lease right-of-use assets, property, plant and equipment, net and amortizable intangible assets, net. Net assets by geographic area consist of the following: December 31, (in thousands) 2020 2019 United States $ 32,457 $ 37,726 Germany 18,697 17,340 United Kingdom 8,867 11,254 Rest of the world 16,660 15,374 Total net assets $ 76,681 $ 81,694 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | (a) Principles of Consolidation The consolidated financial statements include the accounts of Harvard Bioscience, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | (b) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for inventory excess and obsolescence, income tax and reserves for bad debts. In addition, certain estimates are required in order to determine the value of assets and liabilities associated with acquisitions, as well as the Company’s defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with original maturities of three may not not |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | (d) Allowance for Doubtful Accounts The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on considering factors such as historical experience, credit quality, known troubled accounts, historical experience, factors that may |
Inventory, Policy [Policy Text Block] | (e) Inventories The Company values its inventories at the lower of the actual cost to purchase ( first first |
Property, Plant and Equipment, Policy [Policy Text Block] | (f) Property, Plant and Equipment Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows: Machinery and equipment (years) 3 - 10 Computer equipment and software (years) 3 - 7 Furniture and fixtures (years) 5 - 10 Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset. |
Lessee, Leases [Policy Text Block] | (g) Leases The Company accounts for its leases in accordance with ASC 842 12 not The Company has assessed its contracts and concluded that its leases consist of operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not |
Income Tax, Policy [Policy Text Block] | (h) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | (i) Foreign Currency Translation The functional currency of the Company’s foreign subsidiaries is generally their local currency. All assets and liabilities of its foreign subsidiaries are translated at exchange rates in effect at period-end. Income and expenses are translated at rates which approximate those in effect on the transaction dates. The resulting translation adjustment is recorded as a separate component of stockholders’ equity in accumulated other comprehensive (loss) income (“AOCI”) in the consolidated balance sheets. Gains and losses resulting from foreign currency transactions are included in net (loss) income. |
Earnings Per Share, Policy [Policy Text Block] | (j) Earnings per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods presented. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options and other potentially dilutive securities using the treasury stock method unless the effect is antidilutive. |
Comprehensive Income (Loss) [Policy Text Block] | (k) Comprehensive (Loss) Income In accordance with ASC 220, |
Revenue from Contract with Customer [Policy Text Block] | (l) Revenue Recognition Nature of contracts and customers The Company’s contracts are primarily of short duration and are mostly based on the receipt and fulfilment of purchase orders. The purchase orders are binding and include pricing and all other relevant terms and conditions. The Company’s customers are primarily research scientists at pharmaceutical and biotechnology companies, universities, hospitals, government laboratories, including the United States National Institutes of Health (NIH) and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer (OEM) customers who incorporate its products into their products under their own brands. Performance obligations The Company’s performance obligations under its revenue contracts consist of its instruments, equipment, accessories, services, maintenance and extended warranties. Equipment also includes software that functions together with the tangible equipment to deliver its essential functionality. Contracts with customers may not Instruments, equipment and accessories consist of a range of products that are used in life sciences research. Revenues from the sales of these items are recognized when transfer of control of these products to the customer occurs. Transfer of control occurs when the Company has a right to payment, and the customer has legal title to the asset and the customer or their selected carrier has possession, which is typically upon shipment. Sales on these items are therefore generally recognized at a point in time. The Company’s equipment revenue also includes the sale of wireless implantable monitors that are used for life science research purposes. The Company sells these wireless implantable monitors to pharmaceutical companies, contract research organizations and academic laboratories. In addition to sales generated from new and existing customers, these implantable devices are also sold under a program called the “exchange program.” Under this program, customers may may, no may may not 606. Service revenues consist of installation, training, data analysis, and surgeries performed on research animals. Maintenance revenue consists of post-contract support provided in relation to software that is embedded within the equipment that is sold to the customer. The Company provides standard warranties that promise the customer that the product will work as promised. These standard warranties are not one one For sales for which transfer of control occurs upon shipment, the Company accounts for shipping and handling costs as fulfilment costs. As such, the Company records the amounts billed to the customer for shipping costs as revenue and the costs within cost of revenues upon shipment. For sales, for which control transfers to customers after shipment, the Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods to the customer. The Company therefore accrues for the costs of shipping undelivered items in the period of shipment. Revenues expected to be recognized related to any and all remaining performance obligations are generally expected to be recognized in one one Variable Consideration The nature of the Company's contracts gives rise to certain types of variable consideration, including in limited cases volume and payment discounts. The Company analyzes sales that could include variable consideration and estimates the expected or most likely amount of revenue after returns, trade-ins, discounts, rebates, credits, and incentives. Product returns are estimated and accrued for, based on historical information. In making these estimates, the Company considers whether the amount of variable consideration is constrained and is included in revenue only to the extent that it is probable that a significant reversal of the revenue recognized will not not The Company’s payment terms are generally from zero sixty Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues. Deferred revenue The Company records deferred revenue when cash is collected from customers prior to satisfaction of the Company’s performance obligation to the customer. Deferred revenue consists of amounts deferred related to service contracts and revenue deferred as a result of payments received in advance from customers. Deferred revenue is generally expected to be recognized within one The amounts included in deferred revenue from advanced payments relate to amounts that are prepaid for wireless implantable monitors under the exchange program. The Company has made the judgment that these payments do not Advanced payments received from customers are recorded as a liability, and revenue is recognized when the Company’s performance obligations are completed. Performance obligations are completed when the product is shipped or delivered to the customer, or at the end of the exchange program if goods are not Disaggregation of revenue Refer to Note 13 16 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | (m) Valuation of Identifiable Intangible Assets Acquired in Business Combinations The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in the Company’s acquisitions, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or not |
Goodwill and Intangible Assets, Policy [Policy Text Block] | (n) Goodwill and Other Intangible Assets Goodwill and unamortizable intangible assets acquired in a business combination and determined to have an indefinite useful life are not 350, For the purpose of its goodwill analysis, the Company has one fourth not December 31, 2020, none The Company evaluates indefinite-lived intangible assets for impairment annually and when events occur, or circumstances change that may 4 |
Impairment of Long Lived Assets [Policy Text Block ] | (o) Impairment of Long-Lived Assets The Company assesses recoverability of its long-lived assets that are held for use, such as property, plant and equipment and amortizable intangible assets in accordance with ASC 360, may not December 31, 2020, none |
Derivatives, Policy [Policy Text Block] | (p) Derivatives The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not not The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. The Company discontinues hedge accounting prospectively when it determines that the derivative is no not In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings. When it is probable that a forecasted transaction will not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | (q) Fair Value of Financial Instruments The carrying values of the Company’s cash and cash equivalents, trade accounts receivable and trade accounts payable and short-term debt approximate their fair values because of the short maturities of those instruments. The fair value of the Company’s long-term debt approximates its carrying value and is based on the amount of future cash flows associated with the debt discounted using current borrowing rates for similar debt instruments of comparable maturity. Financial reporting standards define a fair value hierarchy that consists of three § Level 1 § Level 2 not § Level 3 |
Share-based Payment Arrangement [Policy Text Block] | (r) Stock-based Compensation The Company accounts for stock-based payment awards in accordance with the provisions of ASC 718, 2000 Stock-based compensation expense recognized is based on the value of the portion of stock-based payment awards that is ultimately expected to vest. The Company values stock-based payment awards, except restricted stock units at grant date using the Black-Scholes option-pricing model. The Company values restricted stock units with a market condition using a Monte-Carlo valuation simulation. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model or Monte-Carlo valuation simulation is affected by the Company’s stock price as well as assumptions regarding certain variables. These variables include, but are not The fair value of restricted stock units is based on the market price of the Company’s stock on the date of grant and are recorded as compensation expense on a straight-line basis over the applicable service period, which ranges from one four Stock-based compensation expense recognized under ASC 718 December 31, 2020 2019 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | (s) Recent Accounting Pronouncements Accounting Pronouncements to be Adopted In September 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 Instruments (ASU 2016 13 may 2016 13 2016 13 December 15, 2022, 2016 13 In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 2019 12 2019 12 January 1, 2021. not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment, Useful Lives [Table Text Block] | Machinery and equipment (years) 3 - 10 Computer equipment and software (years) 3 - 7 Furniture and fixtures (years) 5 - 10 |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign currency Derivatives translation qualifying as Defined benefit (in thousands) adjustments hedges pension plans Total Balance at December 31, 2018 $ (12,630 ) $ (170 ) $ (732 ) $ (13,532 ) Other comprehensive income (loss) before reclassifications (543 ) (572 ) 1,258 143 Amounts reclassified from AOCI - 139 561 700 Net other comprehensive (loss) income (543 ) (433 ) 1,819 843 Balance at December 31, 2019 $ (13,173 ) $ (603 ) $ 1,087 $ (12,689 ) Other comprehensive income (loss) before reclassifications 1,700 (206 ) (2,785 ) (1,291 ) Amounts reclassified from AOCI - 809 105 914 Net other comprehensive (loss) income 1,700 603 (2,680 ) (377 ) Balance at December 31, 2020 $ (11,473 ) $ - $ (1,593 ) $ (13,066 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Affected line item in the Year Ended December 31, (in thousands) Statements of Operations 2020 2019 Amounts Reclassified From AOCI Derivatives qualifying as hedges Realized loss on derivatives qualifying as hedges Interest expense, net $ 319 $ 139 Realized loss on derivatives qualifying as hedges Debt extinguishment and related costs 490 - Income tax Income tax (benefit) expense - - 809 139 Defined benefit pension plans Amortization of net losses included in net periodic pension costs General and administrative expenses 105 561 Income tax Income tax (benefit) expense - - 105 561 Total reclassifications $ 914 $ 700 |
Note 4 - Goodwill and Intangi_2
Note 4 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, (in thousands) 2020 2019 Balance at beginning of year $ 57,381 $ 57,304 Effect of change in currency translation 1,209 77 Balance at end of year $ 58,590 $ 57,381 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | December 31, 2020 2019 Weighted (in thousands) Amortizable intangible assets: Average Life* (Years) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Distribution agreements/customer relationships 8.8 $ 18,237 $ (7,746 ) $ 10,491 $ 17,891 $ (6,340 ) $ 11,551 Existing technology 5.2 38,761 (20,674 ) 18,087 41,222 (19,698 ) 21,524 Trade names and patents 5.4 8,681 (4,362 ) 4,319 7,910 (3,715 ) 4,195 Total amortizable intangible assets $ 65,679 $ (32,782 ) $ 32,897 $ 67,023 $ (29,753 ) $ 37,270 Indefinite-lived intangible assets: 254 1,135 Total intangible assets $ 33,151 $ 38,405 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amortization Year Ending December 31, Expense (in thousands) 2021 $ 5,774 2022 5,740 2023 5,627 2024 5,318 2025 4,204 Thereafter 6,234 Total $ 32,897 |
Note 5 - Balance Sheet Inform_2
Note 5 - Balance Sheet Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, (in thousands) 2020 2019 Finished goods $ 4,938 $ 5,561 Work in process 3,513 3,153 Raw materials 13,811 13,347 Total $ 22,262 $ 22,061 |
Other Current Liabilities [Table Text Block] | December 31, (in thousands) 2020 2019 Compensation $ 3,715 2,554 Professional fees 432 395 Warranty costs 185 252 Customer related costs 1,093 963 Interest 46 425 Accrued income taxes 286 609 Other 1,721 1,502 Total $ 7,478 $ 6,700 |
Property, Plant and Equipment [Table Text Block] | December 31, (in thousands) 2020 2019 Machinery and equipment $ 7,450 $ 7,198 Computer equipment and software 9,114 8,954 Leasehold improvements 2,540 2,151 Furniture and fixtures 1,353 1,321 Automobiles 100 92 20,557 19,716 Less: accumulated depreciation (16,597 ) (14,940 ) Property, plant and equipment, net $ 3,960 $ 4,776 |
Note 6 - Restructuring and Ot_2
Note 6 - Restructuring and Other Exit Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Cost of Severance (in thousands) Revenue Costs Impairment Other Total Restructuring and other exit costs $ 235 $ 530 $ 460 $ 129 $ 1,354 Non-cash charges (235 ) - (460 ) (10 ) (705 ) Cash payments - (166 ) - (115 ) (281 ) Balance at December 31, 2019 - 364 - 4 368 Restructuring and other exit costs - 1,625 - 408 2,033 Non-cash charges - - - (168 ) (168 ) Cash payments - (1,719 ) - (226 ) (1,945 ) Balance at December 31, 2020 $ - $ 270 $ - $ 18 $ 288 |
Note 8 - Employee Benefit Pla_2
Note 8 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Costs of Retirement Plans [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Interest cost $ 391 $ 484 Expected return on plan assets (733 ) (761 ) Net amortization loss 105 336 Recognition of net loss due to settlements 22 228 Net periodic benefit (credit) cost $ (215 ) $ 287 |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | December 31, (in thousands) 2020 2019 Change in benefit obligation: Balance at beginning of year $ 20,027 $ 18,701 Interest cost 391 484 Actuarial loss 4,814 1,513 Settlements due to transfers paid (205 ) (871 ) Benefits paid (476 ) (447 ) Currency translation adjustment 968 647 Balance at end of year $ 25,519 $ 20,027 |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | December 31, (in thousands) 2020 2019 Change in fair value of plan assets: Balance at beginning of year $ 21,114 $ 17,819 Actual return on plan assets 1,690 3,172 Employer contributions 901 831 Settlement due to transfers paid (159 ) (931 ) Benefits paid (476 ) (447 ) Currency translation adjustment 856 670 Balance at end of year $ 23,926 $ 21,114 |
Schedule of Net Funded Status [Table Text Block] | December 31, (in thousands) 2020 2019 Benefit obligation $ (25,519 ) $ (20,027 ) Fair value of plan asset 23,926 21,114 Net funded status $ (1,593 ) $ 1,087 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | December 31, (in thousands) 2020 2019 Other long term (liabilities) assets $ (1,593 ) $ 1,087 Deferred income taxes - - Accumulated other comprehensive loss $ (1,593 ) $ 1,087 |
Defined Benefit Plan, Assumptions [Table Text Block] | Year Ended December 31, 2020 2019 Discount rate 1.4 % 2.02 % Expected return on assets 3.45 % 3.84 % |
Schedule of Allocation of Plan Assets [Table Text Block] | December 31, (in thousands) 2020 2019 Asset category: Equity securities $ 12,047 50 % $ 11,534 55 % Debt securities 4,605 19 % 3,919 19 % Liability driven investment funds 5,168 22 % 3,615 17 % Cash and cash equivalents 1,860 8 % 1,514 7 % Other 246 1 % 532 3 % Total $ 23,926 100 % $ 21,114 100 % |
Defined Benefit Plan, Plan Assets, Category [Table Text Block] | December 31, (in thousands) 2020 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) $ 1,860 $ 1,514 Significant Other Observable Inputs (Level 2) 22,066 19,600 Significant Other Unobservable Inputs (Level 3) - - Total $ 23,926 $ 21,114 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Operating lease cost $ 2,153 $ 2,084 Short term lease cost 175 245 Sublease income (183 ) (429 ) Total lease cost $ 2,145 $ 1,900 |
Supplemental Cash Flow Information Related to Operating Leases [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: $ 2,717 $ 2,530 Right-of-use assets obtained in exchange for lease obligations: $ 455 $ 177 |
Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block] | December 31, (in thousands) 2020 2019 Operating lease right-of use assets $ 7,761 $ 8,463 Current portion, operating lease liabilities $ 2,111 $ 2,424 Operating lease liabilities, long term 7,481 8,224 Total operating lease liabilities $ 9,592 $ 10,648 Weighted average remaining lease term (in years) 7.4 8.1 Weighted average discount rate 9.3 % 9.2 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) Operating Leases 2021 $ 2,111 2022 2,018 2023 1,970 2024 1,715 2025 1,000 Thereafter 4,854 Total lease payments 13,668 Less interest (4,076 ) Total operating lease liabilities $ 9,592 |
Note 10 - Capital Stock and S_2
Note 10 - Capital Stock and Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule Of Stock Options And Restricted Stock Units Activity Roll forward [Table Text Block] | Stock Options Restricted Stock Units Market Condition RSU's Weighted Stock Average Restricted Market Options Exercise Stock Units Grant Date Condition RSU's Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2018 1,956,732 $ 4.25 1,233,762 $ 3.36 116,944 $ 4.19 Granted 943,424 3.28 1,652,720 2.31 605,005 1.98 Exercised (3,750 ) 2.98 - - - - Vested (RSUs) - - (813,762 ) 3.29 (3,778 ) 4.19 Cancelled/Forfeited (630,284 ) 3.96 (482,270 ) 3.42 (188,680 ) 4.18 Balance at December 31, 2019 2,266,122 3.93 1,590,450 2.27 529,491 1.67 Granted 894,154 2.61 1,027,486 2.75 332,622 2.98 Exercised (253,853 ) 3.94 - - - - Vested (RSUs) - - (930,985 ) 2.41 (240,205 ) 1.53 Cancelled/Forfeited (269,084 ) 3.68 (126,490 ) 3.13 (41,932 ) 3.04 Market Condition RSU - factor adjustment - - - - 233,055 1.47 Balance at December 31, 2020 2,637,339 $ 3.51 1,560,461 $ 2.44 813,031 $ 2.12 |
Schedule of Weighted Average Number of Shares [Table Text Block] | Year Ended December 31, 2020 2020 2019 Basic 38,640,284 37,813,580 Dilutive effect of equity awards - - Diluted 38,640,284 37,813,580 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Weighted Weighted Average Average Remaining Weighted Remaining Weighted Range of Contractual Average Aggregate Contractual Average Aggregate Exercise Number Life Exercise Intrinsic Shares Life Exercise Intrinsic Price Outstanding in Years Price Value Exercisable in Years Price Value $1.78 - 2.62 357,018 7.5 $ 2.27 $ 723 96,488 4.8 $ 2.29 $ 193 2.63 - 2.66 717,044 6.4 2.63 1,190 179,264 6.4 2.63 298 2.67 - 3.92 568,784 7.1 3.33 545 348,704 6.2 3.36 323 3.93 - 4.38 587,693 2.9 4.23 35 587,693 2.9 4.23 35 4.39 - 5.63 406,800 4.3 5.37 - 401,800 4.3 5.38 - $1.78 - 5.63 2,637,339 5.6 $ 3.51 $ 2,493 1,613,949 4.5 $ 4.04 $ 849 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Cost of revenues $ 65 $ 43 Sales and marketing expenses 263 119 General and administrative expenses 3,122 2,710 Research and development expenses 197 162 Total stock-based compensation expenses $ 3,647 $ 3,034 |
Monte-Carlo Valuation Simulation [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2020 2019 Volatility 80.6 % 59 % Risk-free interest rate 0.2 % 2 % Correlation coefficient 31.5 % 23.6 % Dividend Yield - % - % |
Black Scholes Option Pricing Model [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2020 2019 Volatility 58.3 % 48.1 % Risk-free interest rate 0.3 % 2.1 % Expected holding period (in years) 4.4 4.7 Dividend Yield - % - % |
Note 11 - Long Term Debt (Table
Note 11 - Long Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, (in thousands) 2020 2019 Term loan $ 40,000 $ 54,997 Revolving line 9,400 - Less: unamortized deferred financing costs (1,393 ) (1,180 ) Total debt 48,007 53,817 Less: current installments (2,000 ) (3,200 ) Less: excess cash flow sweep - (4,093 ) Current unamortized deferred financing costs 279 393 Long-term debt $ 46,286 $ 46,917 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (in thousands) 2021 $ 2,000 2022 3,000 2023 3,000 2024 4,000 2025 37,400 $ 49,400 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | 31-Dec-19 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long-term liabilities $ 28,821 $ (603 ) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Derivatives in Hedging Relationships Amount of gain (loss) recognized in OCI on derivative (effective portion) Year Ended December 31, (in thousands) 2020 2019 Interest rate swaps $ (206 ) $ (572 ) Details about AOCI Components Amount reclassified from AOCI into income (effective portion) Year Ended December 31, Location of amount reclassified (in thousands) 2020 2019 into income (effective portion) Interest rate swaps $ 319 $ 139 Interest expense Interest rate swaps settlement 490 - Debt extinguishment and related costs Total $ 809 $ 139 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value as of December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities) Interest rate swap agreements $ - $ (603 ) $ - $ (603 ) |
Note 13 - Revenues (Tables)
Note 13 - Revenues (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Instruments, equipment, software and accessories $ 97,473 $ 110,220 Service, maintenance and warranty contracts 4,627 5,956 Total revenues $ 102,100 $ 116,176 Year Ended December 31, 2020 Service Customer (in thousands) Contracts Advances Total Balance, beginning of period $ 1,587 $ 2,362 $ 3,949 Deferral of revenue 3,329 1,302 4,631 Recognition of deferred revenue (3,298 ) (1,522 ) (4,820 ) Effect of foreign currency translation 11 - 11 Balance, end of period $ 1,629 $ 2,142 $ 3,771 Year Ended December 31, 2019 Service Customer (in thousands) Contracts Advances Total Balance, beginning of period $ 1,659 $ 2,161 $ 3,820 Deferral of revenue 2,152 1,095 3,247 Recognition of deferred revenue (2,233 ) (894 ) (3,127 ) Effect of foreign currency translation 9 - 9 Balance, end of period $ 1,587 $ 2,362 $ 3,949 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Balance, beginning of period $ 325 $ 332 Bad debt expense 17 288 Charge-offs and other recoveries (124 ) (293 ) Effect of foreign currency translation 9 (2 ) Balance, end of period $ 227 $ 325 |
Schedule of Product Warranty Liability [Table Text Block] | Beginning (Charges)\ Ending (in thousands) Balance Additions Credits Balance Year ended December 31, 2019 $ 391 10 (149 ) $ 252 Year ended December 31, 2020 $ 252 77 (143 ) $ 186 |
Note 14 - Income Tax (Tables)
Note 14 - Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Current income tax (benefit) expense: Federal and state $ 169 $ (707 ) Foreign 492 290 661 (417 ) Deferred income tax (benefit) expense: Federal and state 245 (281 ) Foreign (388 ) (117 ) (143 ) (398 ) Total income tax (benefit) expense $ 518 $ (815 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Computed "expected" income tax benefit $ (1,531 ) 21.0 % $ (1,161 ) 21.0 % Increase (decrease) in income taxes resulting from: Permanent differences, net 141 (1.9 )% 241 (4.4 )% Foreign tax rate differential (14 ) 0.2 % 42 (0.8 )% State income taxes, net of federal income tax benefit (77 ) 1.1 % (74 ) 1.3 % Non-deductible stock compensation expense 94 (1.3 )% 205 (3.7 )% Tax credits (192 ) 2.6 % 220 (4.0 )% Change in reserve for uncertain tax position 259 (3.6 )% (111 ) 2.0 % Impact of change to prior year tax accruals 168 (2.3 )% 314 (5.7 )% Change in valuation allowance allocated to income tax 2,130 (29.2 )% (578 ) 10.5 % Other (460 ) 6.3 % 87 (1.4 )% Total income tax expense (benefit) $ 518 (7.1 )% $ (815 ) 14.8 % |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Domestic $ (7,954 ) $ (5,616 ) Foreign 662 114 Total $ (7,292 ) $ (5,502 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Deferred income tax assets: Inventory $ 1,144 $ 1,079 Operating loss and credit carryforwards 19,220 18,802 Accrued expenses 555 654 Deferred interest expense 1,476 1,475 Stock compensation 1,079 1,011 Lease liability 1,823 2,081 Other assets 458 223 Total gross deferred assets 25,755 25,325 Less: valuation allowance (16,682 ) (13,745 ) Deferred tax assets: $ 9,073 $ 11,580 Deferred income tax liabilities: Indefinite-lived intangible assets $ 1,822 $ 2,048 Definite-lived intangible assets 7,493 9,168 Right-of-use asset 1,388 1,580 Other Liabilities 14 507 Total deferred tax liabilities 10,717 13,303 Deferred income tax liability, net $ (1,644 ) $ (1,723 ) Year Ended December 31, (in thousands) 2020 2019 Deferred tax assets (included in other long-term assets) $ 255 $ 251 Deferred income tax liabilities (1,899 ) (1,974 ) Deferred income tax liability, net $ (1,644 ) $ (1,723 ) |
Summary of Income Tax Contingencies [Table Text Block] | (in thousands) Balance at December 31, 2018 $ 1,860 Additions based on tax positions of prior years 68 Decreases based on tax positions of prior years (133 ) Additions based on tax positions of current years 21 Settlements (398 ) Decreases based on tax positions of acquired entities (65 ) Balance at December 31, 2019 1,353 Additions based on tax positions of prior years 157 Decreases based on tax positions of prior years (11 ) Additions based on tax positions of current years 213 Settlements (39 ) Balance at December 31, 2020 $ 1,673 |
Note 16 - Segment and Related_2
Note 16 - Segment and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 United States $ 42,054 $ 47,792 Europe 29,938 35,128 Asia 23,884 25,041 Rest of the world 6,224 8,215 Total revenues $ 102,100 $ 116,176 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, (in thousands) 2020 2019 United States $ 36,568 $ 41,993 Germany 4,958 5,468 Rest of the world 3,092 3,048 Total long-lived assets (a) $ 44,618 $ 50,509 |
Schedule of Net Assets By Geographic Areas [Table Text Block] | December 31, (in thousands) 2020 2019 United States $ 32,457 $ 37,726 Germany 18,697 17,340 United Kingdom 8,867 11,254 Rest of the world 16,660 15,374 Total net assets $ 76,681 $ 81,694 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Impairment of Long-Lived Assets Held-for-use | $ 0 |
Minimum [Member] | |
Customer Payments Term (Day) | 0 days |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 1 year |
Maximum [Member] | |
Customer Payments Term (Day) | 60 days |
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 4 years |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, plant and equipment useful life (Year) | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, plant and equipment useful life (Year) | 10 years |
Computer Equipment and Software [member] | Minimum [Member] | |
Property, plant and equipment useful life (Year) | 3 years |
Computer Equipment and Software [member] | Maximum [Member] | |
Property, plant and equipment useful life (Year) | 7 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant and equipment useful life (Year) | 5 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant and equipment useful life (Year) | 10 years |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Loss - Changes in Each Component of Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 81,694 | $ 82,724 |
Other comprehensive (loss) income | (377) | 843 |
Balance | 76,681 | 81,694 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | (13,173) | (12,630) |
Other comprehensive income (loss) before reclassifications | 1,700 | (543) |
Amounts reclassified from AOCI | 0 | 0 |
Other comprehensive (loss) income | 1,700 | (543) |
Balance | (11,473) | (13,173) |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||
Balance | (603) | (170) |
Other comprehensive income (loss) before reclassifications | (206) | (572) |
Amounts reclassified from AOCI | 809 | 139 |
Other comprehensive (loss) income | 603 | (433) |
Balance | 0 | (603) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | 1,087 | (732) |
Other comprehensive income (loss) before reclassifications | (2,785) | 1,258 |
Amounts reclassified from AOCI | 105 | 561 |
Other comprehensive (loss) income | (2,680) | 1,819 |
Balance | (1,593) | 1,087 |
AOCI Attributable to Parent [Member] | ||
Balance | (12,689) | (13,532) |
Other comprehensive income (loss) before reclassifications | (1,291) | 143 |
Amounts reclassified from AOCI | 914 | 700 |
Other comprehensive (loss) income | (377) | 843 |
Balance | $ (13,066) | $ (12,689) |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Loss - Reclassified out of AOCI (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Realized loss on derivatives qualifying as hedges | $ 4,831 | $ 5,410 |
Realized loss on derivatives qualifying as hedges | 1,876 | 0 |
Income tax | 518 | (815) |
Total reclassifications | 7,810 | 4,687 |
General and administrative expenses | 23,509 | 22,760 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Total reclassifications | 914 | 700 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||
Realized loss on derivatives qualifying as hedges | 319 | 139 |
Realized loss on derivatives qualifying as hedges | 490 | 0 |
Income tax | 0 | 0 |
Total reclassifications | 809 | 139 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Income tax | 0 | 0 |
Total reclassifications | 105 | 561 |
General and administrative expenses | $ 105 | $ 561 |
Note 4 - Goodwill and Intangi_3
Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fully Amortized Intangible Assets, Retired | $ 3,500 | |
Finite-Lived Intangible Assets, Gross, Total | 65,679 | $ 67,023 |
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | |
Asset Impairment Charges, Total | 0 | 1,460 |
Restructuring Charges, Total | 2,033 | 1,354 |
Other Asset Impairment Charges | 100 | |
Amortization of Intangible Assets, Total | 5,710 | 5,746 |
Facility Closing [Member] | ||
Restructuring Charges, Total | 500 | |
Indefinite-Lived Trade Names Reclassified to Finite-Lived [Member] | ||
Finite-Lived Intangible Assets, Gross, Total | $ 900 | |
In Process Research and Development [Member] | ||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 900 |
Note 4 - Goodwill and Intangi_4
Note 4 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance at beginning of year | $ 57,381 | $ 57,304 |
Effect of change in currency translation | 1,209 | 77 |
Balance at end of year | $ 58,590 | $ 57,381 |
Note 4 - Goodwill and Intangi_5
Note 4 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Finite-Lived Intangible Assets, Gross | $ 65,679 | $ 67,023 | |
Total amortizable intangible assets | (32,782) | (29,753) | |
Finite-Lived Intangible Assets, Net | 32,897 | 37,270 | |
Indefinite-lived intangible assets: | 254 | 1,135 | |
Total intangible assets, Net | $ 33,151 | 38,405 | |
Distribution Agreements/Customer Relationships [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | [1] | 8 years 9 months 18 days | |
Finite-Lived Intangible Assets, Gross | $ 18,237 | 17,891 | |
Total amortizable intangible assets | (7,746) | (6,340) | |
Finite-Lived Intangible Assets, Net | $ 10,491 | 11,551 | |
Existing Technology [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | [1] | 5 years 2 months 12 days | |
Finite-Lived Intangible Assets, Gross | $ 38,761 | 41,222 | |
Total amortizable intangible assets | (20,674) | (19,698) | |
Finite-Lived Intangible Assets, Net | $ 18,087 | 21,524 | |
Trade Names and Patents [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | 5 years 4 months 24 days | ||
Finite-Lived Intangible Assets, Gross | $ 8,681 | 7,910 | |
Total amortizable intangible assets | (4,362) | (3,715) | |
Finite-Lived Intangible Assets, Net | $ 4,319 | $ 4,195 | |
[1] | Weighted average life as of December 31, 2020. |
Note 4 - Goodwill and Intangi_6
Note 4 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 5,774 | |
2022 | 5,740 | |
2023 | 5,627 | |
2024 | 5,318 | |
2025 | 4,204 | |
Thereafter | 6,234 | |
Total | $ 32,897 | $ 37,270 |
Note 5 - Balance Sheet Inform_3
Note 5 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Finished goods | $ 4,938 | $ 5,561 |
Work in process | 3,513 | 3,153 |
Raw materials | 13,811 | 13,347 |
Total | $ 22,262 | $ 22,061 |
Note 5 - Balance Sheet Inform_4
Note 5 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Compensation | $ 3,715 | $ 2,554 |
Professional fees | 432 | 395 |
Warranty costs | 185 | 252 |
Customer related costs | 1,093 | 963 |
Interest | 46 | 425 |
Accrued income taxes | 286 | 609 |
Other | 1,721 | 1,502 |
Total | $ 7,478 | $ 6,700 |
Note 5 - Balance Sheet Inform_5
Note 5 - Balance Sheet Information - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment, Gross | $ 20,557 | $ 19,716 |
Less: accumulated depreciation | (16,597) | (14,940) |
Property, plant and equipment, net | 3,960 | 4,776 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment, Gross | 7,450 | 7,198 |
Computer Equipment and Software [member] | ||
Property, Plant and Equipment, Gross | 9,114 | 8,954 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross | 2,540 | 2,151 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross | 1,353 | 1,321 |
Automobiles [Member] | ||
Property, Plant and Equipment, Gross | $ 100 | $ 92 |
Note 6 - Restructuring and Ot_3
Note 6 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Restructuring Reserve, Ending Balance | $ 288 | $ 368 |
Restructuring Charges, Total | 2,033 | 1,354 |
Selling, General and Administrative Expenses [Member] | ||
Restructuring Charges, Total | $ 2,000 | 700 |
Impairment Charges [Member] | ||
Restructuring Charges, Total | 500 | |
Cost of Sales [Member] | ||
Restructuring Charges, Total | 200 | |
Facility Closing [Member] | ||
Restructuring Charges, Total | $ 500 |
Note 6 - Restructuring and Ot_4
Note 6 - Restructuring and Other Exit Costs - Restructuring and Other Exit Charges (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Restructuring and other exit costs | $ 2,033 | $ 1,354 |
Non-cash charges | (168) | (705) |
Cash payments | (1,945) | (281) |
Balance | 368 | |
Balance | 288 | 368 |
Cost of Revenues [Member] | ||
Restructuring and other exit costs | 0 | 235 |
Non-cash charges | 0 | (235) |
Cash payments | 0 | 0 |
Balance | 0 | |
Balance | 0 | 0 |
Employee Severance [Member] | ||
Restructuring and other exit costs | 1,625 | 530 |
Non-cash charges | 0 | 0 |
Cash payments | (1,719) | (166) |
Balance | 364 | |
Balance | 270 | 364 |
Impairment [Member] | ||
Restructuring and other exit costs | 0 | 460 |
Non-cash charges | 0 | (460) |
Cash payments | 0 | 0 |
Balance | 0 | |
Balance | 0 | 0 |
Other Restructuring [Member] | ||
Restructuring and other exit costs | 408 | 129 |
Non-cash charges | (168) | (10) |
Cash payments | (226) | (115) |
Balance | 4 | |
Balance | $ 18 | $ 4 |
Note 7 - Related Party Transa_2
Note 7 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
The Multi Channel Systems Facility and Triangle BioSystems Lease Agreements [Member] | ||
Operating Lease, Expense | $ 0.3 | $ 0.3 |
Note 8 - Employee Benefit Pla_3
Note 8 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Cost | $ 0.7 | $ 0.7 |
Defined Benefit Plan, Expected Future Benefit Payment, Year One | 0.6 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 0.6 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 0.7 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 0.8 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 0.8 | |
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years | 4.7 | |
Minimum [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1 |
Note 8 - Employee Benefit Pla_4
Note 8 - Employee Benefit Plans - Defined Benefit Pension Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Interest cost | $ 391 | $ 484 |
Expected return on plan assets | (733) | (761) |
Net amortization loss | 105 | 336 |
Recognition of net loss due to settlements | 22 | 228 |
Net periodic benefit (credit) cost | $ (215) | $ 287 |
Note 8 - Employee Benefit Pla_5
Note 8 - Employee Benefit Plans - Change in Benefit Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan, Benefit Obligation, Balance | $ 20,027 | $ 18,701 |
Interest cost | 391 | 484 |
Actuarial loss | 4,814 | 1,513 |
Settlements due to transfers paid | (205) | (871) |
Benefits paid | (476) | (447) |
Currency translation adjustment | 968 | 647 |
Defined Benefit Plan, Benefit Obligation, Balance | $ 25,519 | $ 20,027 |
Note 8 - Employee Benefit Pla_6
Note 8 - Employee Benefit Plans - Change in Fair Value of Plan Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan, Fair Value of Plan Assets, Balance | $ 21,114 | $ 17,819 |
Actual return on plan assets | 1,690 | 3,172 |
Employer contributions | 901 | 831 |
Settlement due to transfers paid | (159) | (931) |
Benefits paid | (476) | (447) |
Currency translation adjustment | 856 | 670 |
Defined Benefit Plan, Fair Value of Plan Assets, Balance | $ 23,926 | $ 21,114 |
Note 8 - Employee Benefit Pla_7
Note 8 - Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Benefit obligation | $ (25,519) | $ (20,027) | $ (18,701) |
Fair value of plan asset | 23,926 | 21,114 | $ 17,819 |
Net funded status | $ (1,593) | $ 1,087 |
Note 8 - Employee Benefit Pla_8
Note 8 - Employee Benefit Plans - Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Net funded status | $ (1,593) | $ 1,087 |
Other Noncurrent Liabilities [Member] | ||
Net funded status | (1,593) | 1,087 |
Deferred Income Tax Assets [Member] | ||
Net funded status | $ 0 | $ 0 |
Note 8 - Employee Benefit Pla_9
Note 8 - Employee Benefit Plans - Weighted Average Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Discount rate | 1.40% | 2.02% |
Expected return on assets | 3.45% | 3.84% |
Note 8 - Employee Benefit Pl_10
Note 8 - Employee Benefit Plans - Fair Value and Asset Allocations of Pension Benefits (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan, Fair Value of Plan Assets | $ 23,926 | $ 21,114 | $ 17,819 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% | ||
Defined Benefit Plan, Equity Securities [Member] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 12,047 | $ 11,534 | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 50.00% | 55.00% | ||
Debt Security, Corporate, US [Member] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | [1] | $ 4,605 | $ 3,919 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 19.00% | 19.00% | ||
Liability Driven Investment Funds [Member] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 5,168 | $ 3,615 | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 22.00% | 17.00% | ||
Defined Benefit Plan, Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 1,860 | $ 1,514 | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 8.00% | 7.00% | ||
Other Plan Assets [Member] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 246 | $ 532 | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 3.00% | ||
[1] | Updated dimension from: "Debt Securities [Member]". |
Note 8 - Employee Benefit Pl_11
Note 8 - Employee Benefit Plans - Fair Value of Plan Assets By Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan, Fair Value of Plan Assets | $ 23,926 | $ 21,114 | $ 17,819 |
Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,860 | 1,514 | |
Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 22,066 | 19,600 | |
Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 0 | $ 0 |
Note 9 - Leases - Lease Expense
Note 9 - Leases - Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease cost | $ 2,153 | $ 2,084 |
Short term lease cost | 175 | 245 |
Sublease income | (183) | (429) |
Total lease cost | $ 2,145 | $ 1,900 |
Note 9 - Leases - Supplemental
Note 9 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | $ 2,717 | $ 2,530 |
Right-of-use assets obtained in exchange for lease obligations: | $ 455 | $ 177 |
Note 9 - Leases - Supplementa_2
Note 9 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Operating lease right-of use assets | $ 7,761 | $ 8,463 |
Current portion, operating lease liabilities | 2,111 | 2,424 |
Operating lease liabilities, long term | 7,481 | 8,224 |
Total operating lease liabilities | $ 9,592 | $ 10,648 |
Weighted average remaining lease term (in years) (Year) | 7 years 4 months 24 days | 8 years 1 month 6 days |
Weighted average discount rate | 9.30% | 9.20% |
Note 9 - Leases - Future Minimu
Note 9 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 2,111 | |
2022 | 2,018 | |
2023 | 1,970 | |
2024 | 1,715 | |
2025 | 1,000 | |
Thereafter | 4,854 | |
Total lease payments | 13,668 | |
Less interest | (4,076) | |
Total operating lease liabilities | $ 9,592 | $ 10,648 |
Note 10 - Capital Stock and S_3
Note 10 - Capital Stock and Stock-based Compensation (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |
Employee Stock Purchase Plan, Consecutive Payment Periods (Year) | 6 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | |
Increase In Number Of Shares Authorized For Issuance Under Stock Option And Incentive Plan (in shares) | 350,000 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 126,255 | 190,642 |
Employee Stock Ownership Plan, Shares Available for Issuance (in shares) | 192,341 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 3,700,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,975,717 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 5,010,931 | 4,386,063 |
Share Price (in dollars per share) | $ 4.29 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 92,162 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 4,400,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months 18 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.21 | $ 1.40 |
Preferred Stock, Shares Issued, Total (in shares) | 0 | |
Market Condition Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 332,622 | 605,005 |
Minimum Percentage Of Target, Number of Restricted Stock Units | 0.00% | |
Maximum Vesting Rate of the Targeted Shareholder Return, Percentage | 150.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Factor Adjustment (in shares) | 233,055 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.98 | $ 1.98 |
In The Money Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 862,149 | |
Share-based Payment Arrangement, Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years |
Note 10 - Capital Stock and S_4
Note 10 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Opening Balance, Stock Options Outstanding (in shares) | 2,266,122 | 1,956,732 |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.93 | $ 4.25 |
Options, Granted in Period (in shares) | 894,154 | 943,424 |
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.61 | $ 3.28 |
Options, exercised (in shares) | (253,853) | (3,750) |
Options, exercised, weighted average exercise price (in dollars per share) | $ 3.94 | $ 2.98 |
Options, Cancelled / Forfeited in Period (in shares) | (269,084) | (630,284) |
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share) | $ 3.68 | $ 3.96 |
Opening Balance, Stock Options Outstanding (in shares) | 2,637,339 | 2,266,122 |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.51 | $ 3.93 |
Restricted Stock Units (RSUs) [Member] | ||
Restricted Stock Units Outstanding , Balance (in shares) | 1,590,450 | 1,233,762 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ 2.27 | $ 3.36 |
Restricted Stock Units, Granted in Period (in shares) | 1,027,486 | 1,652,720 |
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ 2.75 | $ 2.31 |
Restricted Stock Units, Vested in Period (in shares) | (930,985) | (813,762) |
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ 2.41 | $ 3.29 |
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | (126,490) | (482,270) |
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ 3.13 | $ 3.42 |
Market Condition RSU - factor adjustment (in shares) | 0 | |
Market Condition RSU - factor adjustment (in dollars per share) | $ 0 | |
Restricted Stock Units Outstanding , Balance (in shares) | 1,560,461 | 1,590,450 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ 2.44 | $ 2.27 |
Market Condition Restricted Stock Units [Member] | ||
Restricted Stock Units Outstanding , Balance (in shares) | 529,491 | 116,944 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ 1.67 | $ 4.19 |
Restricted Stock Units, Granted in Period (in shares) | 332,622 | 605,005 |
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ 2.98 | $ 1.98 |
Restricted Stock Units, Vested in Period (in shares) | (240,205) | (3,778) |
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ 1.53 | $ 4.19 |
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | (41,932) | (188,680) |
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ 3.04 | $ 4.18 |
Market Condition RSU - factor adjustment (in shares) | 233,055 | |
Market Condition RSU - factor adjustment (in dollars per share) | $ 1.47 | |
Restricted Stock Units Outstanding , Balance (in shares) | 813,031 | 529,491 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ 2.12 | $ 1.67 |
Note 10 - Capital Stock and S_5
Note 10 - Capital Stock and Stock-based Compensation - Weighted Average Number of Shares (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Basic (in shares) | 38,640,284 | 37,813,580 |
Dilutive effect of equity awards (in shares) | 0 | 0 |
Diluted (in shares) | 38,640,284 | 37,813,580 |
Note 10 - Capital Stock and S_6
Note 10 - Capital Stock and Stock-based Compensation - Outstanding and Exercisable Options (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($)$ / sharesshares | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 1.78 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 5.63 |
Options Outstanding, Shares Outstanding (in shares) | shares | 2,637,339 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 5 years 7 months 6 days |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.51 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 2,493 |
Options Exercisable, Shares Exercisable (in shares) | shares | 1,613,949 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 4 years 6 months |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.04 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 849 |
Exercise Price Range 1 [Member] | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 1.78 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 2.62 |
Options Outstanding, Shares Outstanding (in shares) | shares | 357,018 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 7 years 6 months |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 2.27 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 723 |
Options Exercisable, Shares Exercisable (in shares) | shares | 96,488 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 4 years 9 months 18 days |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 2.29 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 193 |
Exercise Price Range 2 [Member] | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 2.63 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 2.66 |
Options Outstanding, Shares Outstanding (in shares) | shares | 717,044 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 6 years 4 months 24 days |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 2.63 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 1,190 |
Options Exercisable, Shares Exercisable (in shares) | shares | 179,264 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 6 years 4 months 24 days |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 2.63 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 298 |
Exercise Price Range 3 [Member] | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 2.67 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 3.92 |
Options Outstanding, Shares Outstanding (in shares) | shares | 568,784 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 7 years 1 month 6 days |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.33 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 545 |
Options Exercisable, Shares Exercisable (in shares) | shares | 348,704 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 6 years 2 months 12 days |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.36 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 323 |
Exercise Price Range 4 [Member] | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 3.93 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 4.38 |
Options Outstanding, Shares Outstanding (in shares) | shares | 587,693 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 2 years 10 months 24 days |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4.23 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 35 |
Options Exercisable, Shares Exercisable (in shares) | shares | 587,693 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 2 years 10 months 24 days |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.23 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 35 |
Exercise Price Range 5 [Member] | |
Range of Exercise Price, Lower Limit (in dollars per share) | $ 4.39 |
Range of Exercise Price, Upper Limit (in dollars per share) | $ 5.63 |
Options Outstanding, Shares Outstanding (in shares) | shares | 406,800 |
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 4 years 3 months 18 days |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 5.37 |
Options Outstanding, Aggregate Intrinsic Value | $ | $ 0 |
Options Exercisable, Shares Exercisable (in shares) | shares | 401,800 |
Options Exercisable. Weighted Average Remaining Contractual Life (Year) | 4 years 3 months 18 days |
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 5.38 |
Options Exercisable, Aggregate Intrinsic Value | $ | $ 0 |
Note 10 - Capital Stock and S_7
Note 10 - Capital Stock and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based compensation | $ 3,647 | $ 3,034 |
Continuing Operations [Member] | Cost of Sales [Member] | ||
Share-based compensation | 65 | 43 |
Continuing Operations [Member] | Selling and Marketing Expense [Member] | ||
Share-based compensation | 263 | 119 |
Continuing Operations [Member] | General and Administrative Expense [Member] | ||
Share-based compensation | 3,122 | 2,710 |
Continuing Operations [Member] | Research and Development Expense [Member] | ||
Share-based compensation | $ 197 | $ 162 |
Note 10 - Capital Stock and S_8
Note 10 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Volatility | 58.30% | 48.10% |
Risk-free interest rate | 0.30% | 2.10% |
Expected holding period (Year) | 4 years 4 months 24 days | 4 years 8 months 12 days |
Dividend Yield | 0.00% | 0.00% |
Note 10 - Capital Stock and S_9
Note 10 - Capital Stock and Stock-based Compensation - Monte Carlo Assumptions (Details) - Monte-Carlo Valuation Simulation [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Volatility | 80.60% | 59.00% |
Risk-free interest rate | 0.20% | 2.00% |
Correlation coefficient | 31.50% | 23.60% |
Dividend Yield | 0.00% | 0.00% |
Note 11 - Long Term Debt (Detai
Note 11 - Long Term Debt (Details Textual) - USD ($) $ in Thousands | Dec. 22, 2020 | Apr. 18, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2021 | Jan. 31, 2018 |
Long-term Debt, Gross | $ 49,400 | |||||
Debt Issuance Costs, Net, Total | 1,393 | $ 1,180 | ||||
Repayments of Long-term Debt, Total | 66,912 | 11,703 | ||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 599 | 0 | ||||
Write off of Deferred Debt Issuance Cost | 787 | 0 | ||||
Interest Rate Swap [Member] | PNC Bank [Member] | ||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 500 | |||||
Derivative Asset, Notional Amount | $ 36,000 | |||||
Derivative Asset, Notional Amount Of Instrument Cancelled | $ 23,000 | |||||
London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Fixed Interest Rate | 2.72% | |||||
Term Loan [Member] | ||||||
Line of Credit Facility, Interest Rate at Period End | 3.25% | |||||
The Credit Agreement [Member] | ||||||
Debt Issuance Costs, Net, Total | $ 1,300 | |||||
The Credit Agreement [Member] | Forecast [Member] | ||||||
Debt Instrument, Quarterly Payment, Current Year | $ 500 | |||||
Debt Instrument Quarterly Payment Next Eight Years | 750 | |||||
Debt Instrument, Quarterly Payment, Thereafter | $ 1,000 | |||||
Percentage of Consolidated Excess Cash Flow | 50.00% | |||||
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Interest Rate, State Floor Percentage | 0.50% | |||||
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |||||
The Credit Agreement [Member] | Base Rate [Member] | ||||||
Debt Instrument, Interest Rate, State Floor Percentage | 1.00% | |||||
The Credit Agreement [Member] | The ABR Loan [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
The Credit Agreement [Member] | The ABR Loan [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | |||||
The Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 15,600 | |||||
The Prior Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | |||||
Repayments of Long-term Debt, Total | 46,700 | |||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 600 | |||||
Paycheck Protection Program CARES Act [Member] | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 6,100 | |||||
Term Loan [Member] | ||||||
Long-term Debt, Gross | $ 40,000 | $ 54,997 | ||||
Term Loan [Member] | The Prior Credit Facility [Member] | ||||||
Long-term Debt, Gross | $ 64,000 | |||||
Term Loan [Member] | The Prior Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||
Write off of Deferred Debt Issuance Cost | 800 | |||||
The LIBOR Loan and Pricing Grid Credit Agreement [Member] | The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||
The Lenders [Member] | The Credit Agreement [Member] | Letter of Credit [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000 | |||||
The Lenders [Member] | The Credit Agreement [Member] | Swingline Loan Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000 | |||||
The Lenders [Member] | The Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | |||||
The Lenders [Member] | The Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member] | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||
The Lenders [Member] | Term Loan [Member] | The Credit Agreement [Member] | ||||||
Long-term Debt, Gross | 40,000 | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 |
Note 11 - Long Term Debt - Brea
Note 11 - Long Term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Long-term debt, gross | $ 49,400 | |
Less: unamortized deferred financing costs | (1,393) | $ (1,180) |
Total debt | 48,007 | 53,817 |
Less: current installments | (2,000) | (3,200) |
Less: excess cash flow sweep | 0 | (4,093) |
Current unamortized deferred financing costs | 279 | 393 |
Long-term debt | 46,286 | 46,917 |
Term Loan [Member] | ||
Long-term debt, gross | 40,000 | 54,997 |
Line of Credit [Member] | ||
Long-term debt, gross | $ 9,400 | $ 0 |
Note 11 - Long Term Debt - Debt
Note 11 - Long Term Debt - Debt Maturity (Details) $ in Millions | Dec. 31, 2020USD ($) |
2021 | $ 2 |
2022 | 3 |
2023 | 3 |
2024 | 4 |
2025 | 37.4 |
Total | $ 49.4 |
Note 11 - Long Term Debt - Deri
Note 11 - Long Term Debt - Derivative Instruments (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - Other Noncurrent Liabilities [Member] $ in Thousands | Dec. 31, 2019USD ($) | |
Derivatives, notional amount | $ 28,821 | |
Derivatives, fair value | $ (603) | [1] |
[1] | See Note 12 for the fair value measurements related to these financial instruments. |
Note 11 - Long Term Debt - Effe
Note 11 - Long Term Debt - Effect of Derivatives on AOCI (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Interest rate swaps | $ 206 | $ 572 |
Interest rate swaps | 809 | 139 |
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ||
Interest rate swaps | (206) | (572) |
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | ||
Interest rate swaps | 319 | 139 |
Interest Rate Swaps Settlement [Member] | Cash Flow Hedging [Member] | Debt Extinguishment and Related costs [Member] | ||
Interest rate swaps | $ 490 | $ 0 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) $ in Thousands | Dec. 31, 2020USD ($) |
Interest Rate Swap [Member] | |
Derivative Liability, Total | $ 0 |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative liabilities | $ 0 | |
Fair Value, Recurring [Member] | ||
Derivative liabilities | $ (603) | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liabilities | (603) | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liabilities | $ 0 |
Note 13 - Revenues - Disaggrega
Note 13 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 102,100 | $ 116,176 |
Balance | 3,949 | 3,820 |
Deferral of revenue | 4,631 | 3,247 |
Recognition of deferred revenue | (4,820) | (3,127) |
Effect of foreign currency translation | 11 | 9 |
Balance | 3,771 | 3,949 |
Service [Member] | ||
Balance | 1,587 | 1,659 |
Deferral of revenue | 3,329 | 2,152 |
Recognition of deferred revenue | (3,298) | (2,233) |
Effect of foreign currency translation | 11 | 9 |
Balance | 1,629 | 1,587 |
Customer Advances [Member] | ||
Balance | 2,362 | 2,161 |
Deferral of revenue | 1,302 | 1,095 |
Recognition of deferred revenue | (1,522) | (894) |
Effect of foreign currency translation | 0 | 0 |
Balance | 2,142 | 2,362 |
UNITED STATES | ||
Revenues | 102,100 | |
UNITED STATES | Instruments, Equipment, Software, and Accessories [Member] | ||
Revenues | 97,473 | |
UNITED STATES | Service, Maintenance, and Warranty Contracts [Member] | ||
Revenues | $ 4,627 | |
UNITED KINGDOM | ||
Revenues | 116,176 | |
UNITED KINGDOM | Instruments, Equipment, Software, and Accessories [Member] | ||
Revenues | 110,220 | |
UNITED KINGDOM | Service, Maintenance, and Warranty Contracts [Member] | ||
Revenues | $ 5,956 |
Note 13 - Revenues - Allowance
Note 13 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance, beginning of period | $ 325 | $ 332 |
Bad debt expense | 17 | 288 |
Charge-offs and other recoveries | (124) | (293) |
Effect of foreign currency translation | 9 | (2) |
Balance, end of period | $ 227 | $ 325 |
Note 13 - Revenues - Warranties
Note 13 - Revenues - Warranties (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Warranty, Beginning Balance | $ 252 | $ 391 |
Warranty Additions | 77 | 10 |
Warranty (Payments) or Credits | (143) | (149) |
Warranty, Ending Balance | $ 186 | $ 252 |
Note 14 - Income Tax (Details T
Note 14 - Income Tax (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, Percent, Total | (7.10%) | 14.80% |
Deferred Tax Assets, Valuation Allowance, Total | $ 16,682 | $ 13,745 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 2,900 | (200) |
Valuation Allowance, US Deferred Tax Assets and UK Pension Assets, Increase (Decrease), Amount | 700 | |
Research and Development Tax Credit Carryforwards Offset by Reserve for Uncertain Tax Positions | 1,000 | |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 800 | |
Deferred Tax Assets, Tax Credit Carryforwards, Total | 3,200 | |
Cash and Cash Equivalents in Foreign Subsidiaries | 2,500 | 3,500 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 39 | 398 |
Unrecognized Tax Benefits, Decrease Resulting from Acquisition | 65 | |
Unrecognized Tax Benefits, Increase Resulting from Audits | 100 | |
Unrecognized Tax Benefits, Increase Resulting from Credits | 300 | |
Unrecognized Tax Benefits, Increase Resulting from State Income Tax Issues | 100 | |
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 300 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,700 | |
Tax Cuts and Jobs Act, Change in Tax Rate Operating Loss Carryforwards From Acquisition, CARES Act | 5,300 | |
Deferred Tax Assets, Valuation Allowance, Increase (Decrease) Due to Change in Tax Rate Operating Loss Carryforward From Acquisition CARES Act | 1,100 | |
Expire 2021 [Member] | ||
Tax Credit Carryforward, Amount | 200 | |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 8,500 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards, Total | 28,100 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expire Between 2021 and 2037 [Member] | ||
Operating Loss Carryforwards, Total | 22,800 | |
State and Local Jurisdiction [Member] | ||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 400 | |
State and Local Jurisdiction [Member] | Expire between 2021 and 2040 [Member] | ||
Operating Loss Carryforwards, Total | 19,000 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 7,300 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | $ 100 | |
Foreign Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | $ 200 |
Note 14 - Income Tax - Income T
Note 14 - Income Tax - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal and state | $ 169 | $ (707) |
Foreign | 492 | 290 |
current income tax (benefit) expense | 661 | (417) |
Federal and state | 245 | (281) |
Foreign | (388) | (117) |
deferred income tax (benefit) expense | (143) | (398) |
Total income tax expense (benefit), amount | $ 518 | $ (815) |
Note 14 - Income Tax - Income_2
Note 14 - Income Tax - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Computed "expected" income tax benefit, amount | $ (1,531) | $ (1,161) |
Computed "expected" income tax benefit, percent | 21.00% | 21.00% |
Permanent differences, net, amount | $ 141 | $ 241 |
Permanent differences, net, percent | (1.90%) | (4.40%) |
Foreign tax rate differential, amount | $ (14) | $ 42 |
Foreign tax rate differential, percent | 0.20% | (0.80%) |
State income taxes, net of federal income tax benefit, amount | $ (77) | $ (74) |
State income taxes, net of federal income tax benefit, percent | 1.10% | 1.30% |
Non-deductible stock compensation expense, amount | $ 94 | $ 205 |
Non-deductible stock compensation expense, percent | (1.30%) | (3.70%) |
Tax credits, amount | $ (192) | $ (220) |
Tax credits, percent | 2.60% | (4.00%) |
Tax credits, amount | $ 192 | $ 220 |
Change in reserve for uncertain tax position, amount | $ 259 | $ (111) |
Change in reserve for uncertain tax position, percent | (3.60%) | 2.00% |
Impact of change to prior year tax accruals, amount | $ 168 | $ 314 |
Impact of change to prior year tax accruals, percent | (2.30%) | (5.70%) |
Change in valuation allowance allocated to income tax, amount | $ 2,130 | $ (578) |
Change in valuation allowance allocated to income tax, percent | (29.20%) | 10.50% |
Other, amount | $ (460) | $ 87 |
Other, percent | 6.30% | (1.40%) |
Total income tax expense (benefit), amount | $ 518 | $ (815) |
Total income tax expense (benefit), percent | (7.10%) | 14.80% |
Note 14 - Income Tax - Pre-tax
Note 14 - Income Tax - Pre-tax Income From Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Domestic | $ (7,954) | $ (5,616) |
Foreign | 662 | 114 |
Loss before income taxes | $ (7,292) | $ (5,502) |
Note 14 - Income Tax - Deferred
Note 14 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Inventory | $ 1,144 | $ 1,079 |
Operating loss and credit carryforwards | 19,220 | 18,802 |
Accrued expenses | 555 | 654 |
Deferred interest expense | 1,476 | 1,475 |
Stock compensation | 1,079 | 1,011 |
Lease liability | 1,823 | 2,081 |
Other assets | 458 | 223 |
Total gross deferred assets | 25,755 | 25,325 |
Less: valuation allowance | (16,682) | (13,745) |
Deferred tax assets: | 9,073 | 11,580 |
Indefinite-lived intangible assets | 1,822 | 2,048 |
Definite-lived intangible assets | 7,493 | 9,168 |
Right-of-use asset | 1,388 | 1,580 |
Other Liabilities | 14 | 507 |
Total deferred tax liabilities | 10,717 | 13,303 |
Deferred income tax liability, net | (1,644) | (1,723) |
Deferred tax assets (included in other long-term assets) | 255 | 251 |
Deferred income tax liabilities | $ (1,899) | $ (1,974) |
Note 14 - Income Tax - Unrecogn
Note 14 - Income Tax - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 1,353 | $ 1,860 |
Additions based on tax positions of prior years | 157 | 68 |
Decreases based on tax positions of prior years | (11) | (133) |
Additions based on tax positions of current years | 213 | 21 |
Settlements | (39) | (398) |
Decreases based on tax positions of acquired entities | (65) | |
Balance | $ 1,673 | $ 1,353 |
Note 16 - Segment and Related_3
Note 16 - Segment and Related Information (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Operating Segments | 1 |
Note 16 - Segment and Related_4
Note 16 - Segment and Related Information - Revenue From External Customers by Geographic Areas (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Total revenues | $ 102,100 | $ 116,176 |
UNITED STATES | ||
Total revenues | 102,100 | |
Continuing Operations [Member] | ||
Total revenues | 102,100 | 116,176 |
Continuing Operations [Member] | UNITED STATES | ||
Total revenues | 42,054 | 47,792 |
Continuing Operations [Member] | Europe [Member] | ||
Total revenues | 29,938 | 35,128 |
Continuing Operations [Member] | Asia [Member] | ||
Total revenues | 23,884 | 25,041 |
Continuing Operations [Member] | Rest of the World [Member] | ||
Total revenues | $ 6,224 | $ 8,215 |
Note 16 - Segment and Related_5
Note 16 - Segment and Related Information - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Total long-lived assets | [1] | $ 44,618 | $ 50,509 |
UNITED STATES | Continuing Operations [Member] | |||
Total long-lived assets | 36,568 | 41,993 | |
GERMANY | Continuing Operations [Member] | |||
Total long-lived assets | 4,958 | 5,468 | |
Rest of the World [Member] | Continuing Operations [Member] | |||
Total long-lived assets | $ 3,092 | $ 3,048 | |
[1] | consists of operating lease right-of-use assets, property, plant and equipment, net and amortizable intangible assets, net. |
Note 16 - Segment and Related_6
Note 16 - Segment and Related Information - Net Assets by Geographic Area (Details) - Continuing Operations [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total net assets | $ 76,681 | $ 81,694 |
UNITED STATES | ||
Total net assets | 32,457 | 37,726 |
GERMANY | ||
Total net assets | 18,697 | 17,340 |
UNITED KINGDOM | ||
Total net assets | 8,867 | 11,254 |
Rest of the World [Member] | ||
Total net assets | $ 16,660 | $ 15,374 |