Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Jul. 31, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001158114 | |
Entity Registrant Name | APPLIED OPTOELECTRONICS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-36083 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 76-0533927 | |
Entity Address, Address Line One | 13139 Jess Pirtle Blvd. | |
Entity Address, City or Town | Sugar Land | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77478 | |
City Area Code | 281 | |
Local Phone Number | 295-1800 | |
Title of 12(b) Security | Common Stock, Par value $0.001 | |
Trading Symbol | AAOI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 22,773,963 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 51,131 | $ 59,977 |
Restricted cash | 7,778 | 7,051 |
Accounts receivable - trade, net of allowance of $30 and $30, respectively | 50,029 | 34,655 |
Inventories | 97,251 | 85,028 |
Prepaid income tax | 210 | 224 |
Prepaid expenses and other current assets | 6,610 | 5,869 |
Total current assets | 213,009 | 192,804 |
Property, plant and equipment, net | 244,126 | 248,444 |
Land use rights, net | 5,455 | 5,598 |
Operating right of use asset | 7,552 | 7,768 |
Financing right of use asset | 104 | 119 |
Intangible assets, net | 4,006 | 4,081 |
Deferred income tax assets | 2,136 | 7,287 |
Other assets, net | 1,703 | 724 |
TOTAL ASSETS | 478,091 | 466,825 |
Current liabilities | ||
Current portion of notes payable and long-term debt | 42,234 | 33,371 |
Accounts payable | 51,154 | 32,828 |
Bank acceptance payable | 9,866 | 6,310 |
Current lease liability - operating | 941 | 965 |
Current lease liability - financing | 17 | 17 |
Accrued liabilities | 15,557 | 17,864 |
Total current liabilities | 119,769 | 91,355 |
Notes payable and long-term debt, less current portion | 15,542 | 16,552 |
Convertible senior notes | 77,439 | 77,041 |
Non-current lease liability - operating | 7,795 | 7,983 |
Non-current lease liability - financing | 91 | 100 |
TOTAL LIABILITIES | 220,636 | 193,031 |
Stockholders' equity: | ||
Preferred Stock; 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively | 0 | 0 |
Common Stock; 45,000 shares authorized at $0.001 par value; 21,941 and 20,141 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively | 22 | 20 |
Additional paid-in capital | 323,405 | 303,401 |
Accumulated other comprehensive (loss) and income | (518) | 430 |
Accumulated deficit | (65,454) | (30,057) |
TOTAL STOCKHOLDERS' EQUITY | 257,455 | 273,794 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 478,091 | $ 466,825 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts receivable, allowance | $ 30 | $ 30 |
Preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 45,000 | 45,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 21,941 | 20,141 |
Common stock, shares outstanding (in shares) | 21,941 | 20,141 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue, net | $ 65,222 | $ 43,411 | $ 105,689 | $ 96,130 |
Cost of goods sold | 51,486 | 32,873 | 85,615 | 73,241 |
Gross profit | 13,736 | 10,538 | 20,074 | 22,889 |
Operating expenses | ||||
Research and development | 10,803 | 11,151 | 21,361 | 22,336 |
Sales and marketing | 3,430 | 2,331 | 6,366 | 4,926 |
General and administrative | 10,611 | 10,884 | 21,249 | 21,324 |
Total operating expenses | 24,844 | 24,366 | 48,976 | 48,586 |
Loss from operations | (11,108) | (13,828) | (28,902) | (25,697) |
Other income (expense) | ||||
Interest income | 47 | 310 | 194 | 382 |
Interest expense | (1,489) | (1,490) | (2,944) | (2,486) |
Other income (expense), net | 974 | 451 | 1,231 | 296 |
Total other income (expense), net | (468) | (729) | (1,519) | (1,808) |
Loss before income taxes | (11,576) | (14,557) | (30,421) | (27,505) |
Income tax benefit (expense) | (7,024) | 3,191 | (4,976) | 5,665 |
Net loss | $ (18,600) | $ (11,366) | $ (35,397) | $ (21,840) |
Net loss per share | ||||
Basic (in dollars per share) | $ (0.89) | $ (0.57) | $ (1.72) | $ (1.10) |
Diluted (in dollars per share) | $ (0.89) | $ (0.57) | $ (1.72) | $ (1.10) |
Weighted average shares used to compute net loss per share: | ||||
Basic (in shares) | 20,858,450 | 19,931,745 | 20,533,417 | 19,897,602 |
Diluted (in shares) | 20,858,450 | 19,931,745 | 20,533,417 | 19,897,602 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net loss | $ (18,600) | $ (11,366) | $ (35,397) | $ (21,840) |
Loss (gain) on foreign currency translation adjustment | 1,454 | (3,329) | (948) | (981) |
Comprehensive loss | $ (17,146) | $ (14,695) | $ (36,345) | $ (22,821) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 0 | 19,810 | ||||
Balance at Dec. 31, 2018 | $ 0 | $ 20 | $ 292,480 | $ 602 | $ 35,992 | $ 329,094 |
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 0 | ||||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | 7 | 0 | 0 | 7 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 141 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (526) | 0 | 0 | (526) |
Share-based compensation | 0 | 0 | 5,961 | 0 | 0 | 5,961 |
Foreign currency translation adjustment | 0 | 0 | 0 | (981) | 0 | (981) |
Net loss | $ 0 | $ 0 | 0 | 0 | (21,840) | (21,840) |
Balance (in shares) at Jun. 30, 2019 | 0 | 19,951 | ||||
Balance at Jun. 30, 2019 | $ 0 | $ 20 | 297,922 | (379) | 14,152 | 311,715 |
Balance (in shares) at Mar. 31, 2019 | 0 | 19,888 | ||||
Balance at Mar. 31, 2019 | $ 0 | $ 20 | 295,130 | 2,950 | 25,518 | 323,618 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 63 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (227) | 0 | 0 | (227) |
Share-based compensation | 0 | 0 | 3,019 | 0 | 0 | 3,019 |
Foreign currency translation adjustment | 0 | 0 | 0 | (3,329) | 0 | (3,329) |
Net loss | $ 0 | $ 0 | 0 | 0 | (11,366) | (11,366) |
Balance (in shares) at Jun. 30, 2019 | 0 | 19,951 | ||||
Balance at Jun. 30, 2019 | $ 0 | $ 20 | 297,922 | (379) | 14,152 | 311,715 |
Balance (in shares) at Dec. 31, 2019 | 0 | 20,140 | ||||
Balance at Dec. 31, 2019 | $ 0 | $ 20 | 303,401 | 430 | (30,057) | 273,794 |
Public offering of common stock, net (in shares) | 0 | 1,582 | ||||
Public offering of common stock, net | $ 0 | $ 2 | 13,928 | 0 | 0 | $ 13,930 |
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 0 | 1 | |||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | 3 | 0 | 0 | $ 3 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 218 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (467) | 0 | 0 | (467) |
Share-based compensation | 0 | 0 | 6,540 | 0 | 0 | 6,540 |
Foreign currency translation adjustment | 0 | 0 | 0 | (948) | 0 | (948) |
Net loss | $ 0 | $ 0 | 0 | 0 | (35,397) | (35,397) |
Balance (in shares) at Jun. 30, 2020 | 0 | 21,940 | ||||
Balance at Jun. 30, 2020 | $ 0 | $ 22 | 323,405 | (518) | (65,454) | 257,455 |
Balance (in shares) at Mar. 31, 2020 | 0 | 20,249 | ||||
Balance at Mar. 31, 2020 | $ 0 | $ 20 | 306,305 | (1,972) | (46,854) | 257,499 |
Public offering of common stock, net (in shares) | 0 | 1,578 | ||||
Public offering of common stock, net | $ 0 | $ 2 | 14,002 | 0 | 0 | 14,004 |
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 0 | ||||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | 3 | 0 | 0 | 3 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 113 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (207) | 0 | 0 | (207) |
Share-based compensation | 0 | 0 | 3,302 | 0 | 0 | 3,302 |
Foreign currency translation adjustment | 0 | 0 | 0 | 1,454 | 0 | 1,454 |
Net loss | $ 0 | $ 0 | 0 | 0 | (18,600) | (18,600) |
Balance (in shares) at Jun. 30, 2020 | 0 | 21,940 | ||||
Balance at Jun. 30, 2020 | $ 0 | $ 22 | $ 323,405 | $ (518) | $ (65,454) | $ 257,455 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Operating activities: | ||
Net loss | $ (35,397) | $ (21,840) |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Provision for losses on accounts receivable | 1 | 0 |
Lower of cost or market reserve adjustment to inventory | 2,924 | 5,207 |
Depreciation and amortization | 12,154 | 11,964 |
Amortization of debt issuance costs | 444 | 457 |
Deferred income taxes, net | 5,147 | (5,770) |
Loss on disposal of assets | 9 | 10 |
Share-based compensation | 6,540 | 5,961 |
Unrealized foreign exchange gain | (134) | (171) |
Changes in operating assets and liabilities: | ||
Accounts receivable, trade | (9,690) | 2,128 |
Notes receivable | (49) | (137) |
Prepaid income tax | 13 | (127) |
Inventories | (15,362) | 6,346 |
Other current assets | (725) | 5,579 |
Operating right of use asset | 300 | 561 |
Accounts payable | 12,688 | 1,615 |
Accrued liabilities | (2,323) | (4,043) |
Lease liability | (309) | (573) |
Net cash provided by (used in) operating activities | (23,769) | 7,167 |
Investing activities: | ||
Purchase of property, plant and equipment | (6,759) | (26,286) |
Proceeds from disposal of equipment | 52 | 1 |
Deposits and prepaid for equipment | (2,304) | 5,763 |
Purchase of intangible assets | (208) | (316) |
Net cash used in investing activities | (9,219) | (20,838) |
Financing activities: | ||
Proceeds from issuance of notes payable and long-term debt, net of debt issuance costs | 6,229 | 10,537 |
Principal payments of long-term debt and notes payable | (2,221) | (41,203) |
Proceeds from line of credit borrowings | 52,637 | 38,473 |
Repayments of line of credit borrowings | (48,689) | (42,211) |
Proceeds from bank acceptance payable | 14,080 | 4,471 |
Repayments of bank acceptance payable | (10,377) | (6,575) |
Proceeds from issuance of convertible senior notes, net of debt issuance costs | (16) | 76,364 |
Principal payments of financing lease | (8) | 0 |
Exercise of stock options | 3 | 7 |
Payments of tax withholding on behalf of employees related to share-based compensation | (466) | (526) |
Proceeds from common stock offering, net | 13,929 | 0 |
Net cash provided by financing activities | 25,101 | 39,337 |
Effect of exchange rate changes on cash | (232) | 317 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (8,119) | 25,983 |
Cash, cash equivalents and restricted cash at beginning of period | 67,028 | 58,004 |
Cash, cash equivalents and restricted cash at end of period | 58,909 | 83,987 |
Supplemental disclosure of cash flow information: | ||
Interest, net of amounts capitalized | 2,478 | 498 |
Income taxes | (192) | 224 |
Non-cash investing and financing activities: | ||
Purchase of property and equipment with line of credit borrowings | 941 | 0 |
Net change in accounts payable related to property and equipment additions | (710) | 777 |
Net change in deposits and prepaid for equipment related to property and equipment additions | $ 1,327 | $ 0 |
Note 1 - Description of Busines
Note 1 - Description of Business | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Business Overview Applied Optoelectronics, Inc. (“AOI” or the “Company”) is a Delaware corporation. The Company is a leading, vertically integrated provider of fiber-optic networking products, primarily for four The Company has manufacturing and research and development facilities located in the U.S., Taiwan and China. In the U.S., at its corporate headquarters and manufacturing facilities in Sugar Land, Texas, the Company primarily manufactures lasers and laser components and performs research and development activities for laser component and optical module products. In addition, the Company also has a research and development facility in Duluth, Georgia. The Company operates in Taipei, Taiwan and Ningbo, China through its wholly-owned subsidiary Prime World International Holdings, Ltd. (“Prime World”, incorporated in the British Virgin Islands). Prime World operates a branch in Taipei, Taiwan, which primarily manufactures transceivers and performs research and development activities for the transceiver products. Prime World is also the parent of Global Technology, Inc. (“Global”, incorporated in the People’s Republic of China). Through Global, the Company primarily manufactures certain of its data center transceiver products, including subassemblies, as well as CATV systems and equipment, and performs research and development activities for the CATV products. Interim Financial Statements The unaudited condensed consolidated financial statements of the Company as of June 30, 2020 December 31, 2019 three six June 30, 2020 June 30, 2019 10 10 01 X 10 December 31, 2019 three six June 30, 2020 not Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates in the consolidated financial statements and accompanying notes. Significant estimates and assumptions that impact these financial statements and the accompanying notes relate to, among other things, allowance for credit losses, inventory reserve, product warranty costs, share-based compensation expense, estimated useful lives of property and equipment, and taxes. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. There have been no three six June 30, 2020 2019 Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 In June 2016, 2016 13 not January 1, 2020. not may In March 2020, 2020 03, seven 2020 03 not Recent Accounting Pronouncements Yet to be Adopted In December 2019, 2019 12, 740 . In March 2020, 2020 04, 848 March 12, 2020, may December 31, 2022. |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3. Disaggregation of Revenue Revenue is classified based on the location of where the product is manufactured. For additional information on the disaggregated revenues by geographical region, see Note 17, Revenue is also classified by major product category and is presented below (in thousands): Three months ended June 30, % of % of 2020 Revenue 2019 Revenue Data Center $ 52,533 80.5 % $ 31,806 73.3 % CATV 6,141 9.4 % 9,818 22.6 % Telecom 6,170 9.5 % 1,630 3.8 % FTTH 1 0.0 % 16 0.0 % Other 377 0.6 % 141 0.3 % Total Revenue $ 65,222 100.0 % $ 43,411 100.0 % Six months ended June 30, % of % of 2020 Revenue 2019 Revenue Data Center $ 85,797 81.2 % $ 70,305 73.1 % CATV 10,364 9.8 % 21,780 22.7 % Telecom 8,730 8.3 % 3,368 3.5 % FTTH 1 0.0 % 110 0.1 % Other 797 0.7 % 567 0.6 % Total Revenue $ 105,689 100.0 % $ 96,130 100.0 % |
Note 4 - Leases
Note 4 - Leases | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | Note 4. The Company leases space under non-cancellable operating leases for manufacturing facilities, research and development offices and certain storage facilities and apartments. These leases do not one one As most of the Company’s leases do not The Components of lease expense were as follows for the periods indicated (in thousands): Three months ended June 30, 2020 2019 Operating lease expense $ 296 $ 318 Financing lease expense 8 — Short Term lease expense 37 51 Total lease expense $ 341 $ 369 Maturities of lease liabilities are as follows for the future one June 30, Operating Financing 2021 $ 1,268 $ 22 2022 1,227 22 2023 1,171 22 2024 1,113 55 2025 1,123 — 2026 and thereafter 4,572 — Total lease payments $ 10,474 $ 121 Less imputed interest (1,738 ) (13 ) Present value $ 8,736 $ 108 The weighted average remaining lease term and discount rate for operating leases were as follows for the periods indicated: Six months ended June 30, 2020 2019 Weighted Average Remaining Lease Term (Years) - operating leases 8.65 9.69 Weighted Average Remaining Lease Term (Years) - financing leases 3.33 — Weighted Average Discount Rate - operating leases 3.16 % 3.13 % Weighted Average Discount Rate - financing leases 5.00 % — Supplemental cash flow information related to operating leases was as follows for the periods indicated (in thousands): Six months ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 640 676 Operating cash flows from financing lease 3 — Financing cash flows from financing lease 8 — Right-of-use assets obtained in exchange for new operating lease liabilities 261 15 |
Note 5 - Cash, Cash Equivalents
Note 5 - Cash, Cash Equivalents and Restricted Cash | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 5. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the statement of financial position that sum to the total of the same such amounts in the statement of cash flows (in thousands): June 30, December 31, 2020 2019 Cash and cash equivalents $ 51,131 $ 59,977 Restricted cash 7,778 7,051 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 58,909 $ 67,028 Restricted cash includes guarantee deposits for customs duties, research and development equipment additions, and compensating balances required for certain credit facilities. As of June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2019 |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6. Basic net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from stock options, restricted stock units and senior convertible notes outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and diluted loss per share are the same. The following table sets forth the computation of the basic and diluted net loss per share for the periods indicated (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Numerator: Net loss $ (18,600 ) $ (11,366 ) $ (35,397 ) $ (21,840 ) Denominator: Weighted average shares used to compute net loss per share Basic 20,858 19,932 20,533 19,898 Diluted 20,858 19,932 20,533 19,898 Net loss per share Basic $ (0.89 ) $ (0.57 ) $ (1.72 ) $ (1.10 ) Diluted $ (0.89 ) $ (0.57 ) $ (1.72 ) $ (1.10 ) The following potentially dilutive securities were excluded from the diluted net loss per share as their effect would have been antidilutive (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Employee stock options 11 29 13 63 Restricted stock units 10 — 13 2 Shares for convertible senior notes 4,587 4,587 4,587 4,587 Total antidilutive shares 4,608 4,616 4,613 4,652 |
Note 7 - Inventories
Note 7 - Inventories | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 7. Inventories, net of inventory write-downs, consist of the following for the periods indicated (in thousands): June 30, 2020 December 31, 2019 Raw materials $ 33,808 $ 15,570 Work in process and sub-assemblies 53,049 50,787 Finished goods 10,394 18,671 Total inventories $ 97,251 $ 85,028 The lower of cost or market adjustment expensed for inventory for the three June 30, 2020 2019 six June 30, 2020 2019 For the three June 30, 2020 2019 six June 30, 2020 2019 |
Note 8 - Property, Plant and Eq
Note 8 - Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8. Property, plant and equipment consisted of the following for the periods indicated (in thousands): June 30, 2020 December 31, 2019 Land improvements $ 806 $ 806 Building and improvements 84,375 83,846 Machinery and equipment 239,213 237,464 Furniture and fixtures 5,276 5,105 Computer equipment and software 11,123 10,506 Transportation equipment 657 658 341,450 338,385 Less accumulated depreciation and amortization (126,778 ) (116,979 ) 214,672 221,406 Construction in progress 28,353 25,937 Land 1,101 1,101 Total property, plant and equipment, net $ 244,126 $ 248,444 For the three June 30, 2020 2019 six June 30, 2020 2019 June 30, 2020 December 31, 2019, As of June 30, 2020 , the Company concluded that its continued loss history constitutes a triggering event as described in ASC 360 - 10 - 35 - 21, Property, Plant, and Equipment . The Company performed a recoverability test and concluded that future undiscounted cash flows exceed the carrying amount of the Company’s long-lived assets and therefore no |
Note 9 - Intangible Assets, Net
Note 9 - Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 9. Intangible assets consisted of the following for the periods indicated (in thousands): June 30, 2020 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,850 $ (3,850 ) $ 4,000 Trademarks 20 (14 ) 6 Total intangible assets $ 7,870 $ (3,864 ) $ 4,006 December 31, 2019 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,638 $ (3,560 ) $ 4,078 Trademarks 17 (14 ) 3 Total intangible assets $ 7,655 $ (3,574 ) $ 4,081 For the three June 30, 2020 2019 six June 30, 2020 2019 At June 30, 2020 2021 $ 561 2022 561 2023 561 2024 561 2025 561 thereafter 1,201 $ 4,006 |
Note 10 - Fair Value of Financi
Note 10 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10. The following table represents a summary of the Company’s financial instruments measured at fair value on a recurring basis for the periods indicated (in thousands): As of June 30, 2020 As of December 31, 2019 (Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Total Assets: Cash and cash equivalents $ 51,131 $ — $ — $ 51,131 $ 59,977 $ — $ — $ 59,977 Restricted cash 7,778 — — 7,778 7,051 — — 7,051 Total assets $ 58,909 $ — $ — $ 58,909 $ 67,028 $ — $ — $ 67,028 Liabilities: Bank acceptance payable — $ 9,866 — $ 9,866 — $ 6,310 — 6,310 Convertible senior notes — 68,591 — 68,591 — 77,191 — 77,191 Total liabilities $ — $ 78,457 $ — $ 78,457 $ — $ 83,501 $ — $ 83,501 The carrying value amounts of accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments. The carrying value amounts of bank acceptances approximate fair value due to the short-term nature of the debt since it renews frequently at current interest rates. The Company believes that the interest rates in effect at each period end represent the current market rates for similar borrowings. The fair value of its convertible senior debt is measured for disclosure purpose. The fair value is based on observable market prices for this debt, which is traded in less active markets and are therefore classified as a Level 2 |
Note 11 - Notes Payable and Lon
Note 11 - Notes Payable and Long-term Debt | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11. Notes payable and long-term debt consisted of the following for the periods indicated (in thousands): June 30, 2020 December 31, 2019 Revolving line of credit with a U.S. bank up to $20,000 1.5% April 2, 2021 $ 18,741 $ 20,000 Paycheck Protection Program Term Note with interest at fixed rate 1.0% April 16, 2022 6,229 — Revolving line of credit with a Taiwan bank up to $3,336 2.2% July 31, 2020 3,375 3,336 Notes payable to a finance company due in monthly installments with 3.4% November 30, 2021 3,187 4,262 Notes payable to a finance company due in monthly installments with 3.1% January 21, 2022 3,562 4,633 Revolving line of credit with a Taiwan bank up to $2,668 1.7% April 11, 2020 — 2,668 Revolving line of credit with a China bank up to $8,917 4.5% October 14, 2020 977 — Revolving line of credit with a China bank up to $25,449 3.01% 4.57% May 24, 2024 9,698 7,919 Credit facility with a China bank up to $14,125 3.5% November 7, 2020 4,999 — Credit facility with a China bank up to $7,167 5.7% June 20, 2022 7,063 7,167 Sub-total 57,831 49,985 Less debt issuance costs, net (55 ) (62 ) Grand total 57,776 49,923 Less current portion (42,234 ) (33,371 ) Non-current portion $ 15,542 $ 16,552 Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 9,866 $ 6,310 The current portion of long-term debt is the amount payable within one June 30, 2020 Maturities of long-term debt are as follows for the future one June 30, 2021 $ 42,234 2022 15,542 Total outstanding $ 57,776 On September 28, 2017, December 2019). three not one On March 30, 2018, $60 $26 $21.5 three $50 September 28, 2017. 1 three $50 2 five 3 seventy one one one not On February 1, 2019, September 28, 2017, first March 30, 2018, three five seventy March 30, 2019 June 30, 2020 On March 5, 2019, 12 $60,000,000 $25,000,000; not not not seven seven On March 5, 2019, On September 30, 2019, $25,000,000 $20,000,000; September 28, 2020 April 2, 2021; ( 1.0, twelve seventy-five As of June 30, 2020 June 30, 2020 On April 17, 2020, 1.00%, first six November 2020, 18 April 2022. may may may eight not On November 29, 2018, NT$267,340,468, three NT$67,340,468, NT$5,571,229, NT$6,139,188, NT$210,601,605, June 30, 2020 On January 21, 2019, NT$267,333,186, three NT$67,333,186, NT$5,570,167, NT$6,082,131, NT$209,555,736 June 30, 2020 On April 11, 2019, one NT$80 may April 11, 2019 April 11, 2020. one 0.655%; TAIFX3 one TAIFX3 June 30, 2020 On July 23, 2019, one NT$100 “NT$100M “US$1M NT$100M US$1M NT$100M US$1M may July 23, 2019 July 31, 2020. NT$100M 90 120 US$1M June 30, 2020 On April 19, 2019, twelve April 14, 2020, six may April 19, 2019 October 14, 2020 ( may may June 30, 2020 On April 30, 2019, one ¥9.9M ¥9.9M may ¥9.9M April 30, 2019 May 9, 2019. ¥9.9M April 30, 2020 twelve 12 ¥9.9M ¥9.9M ¥9.9M May 24, 2019. On May 7, 2019, one ¥30M ¥30M ¥30M May 7, 2020 twelve 12 ¥30M twelve 12 ¥30M ¥30M ¥30M May 24, 2019. On May 8, 2019, six “$2M $2M $2M November 7, 2019 six 6 $2M 6 $2M $2M $2M May 24, 2019. On May 24, 2019, five 180 30 May 7, 2019; 9.9 April 30, 2019 May 8, 2019. may 5 may June 30, 2020 On June 21, 2019, “¥100M ¥100M may ¥100M June 21, 2019 January 4, 2021 ( “¥100M ¥100M may ¥100M ¥100M may ¥100M ¥100M June 30, 2020 ¥100M On June 21, 2019, three “¥50M ¥50M may ¥50M June 21, 2019 June 20, 2022 ( “¥50M ¥50M may ¥50M ¥50M may ¥50M June 30, 2020 ¥50M As of June 30, 2020 December 31, 2019 One-month LIBOR rates were 0.2% and 1.8% at June 30, 2020 December 31, 2019 As of June 30, 2020 December 31, 2019 |
Note 12 - Convertible Senior No
Note 12 - Convertible Senior Notes | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | Note 12. On March 5, 2019, 2024 March 5, 2019 5.00% March 15 September 15 September 15, 2019. March 15, 2024, The sale of the Notes generated net proceeds of $76.4 million, after deducting the Initial Purchasers’ discounts and offering expenses payable by the Company. The Company used approximately $37.8 million of the net proceeds from the offering to fully repay the CapEx Loan and Term Loan with Truist Bank and the remainder will be used for general corporate purposes. The following table presents the carrying value of the Notes for the periods indicated (in thousands): June 30, December 31, 2020 2019 Principal $ 80,500 $ 80,500 Unamortized debt issuance costs (3,061 ) (3,459 ) Net carrying amount $ 77,439 $ 77,041 The Notes are convertible at the option of holders of the Notes at any time until the close of business on the scheduled trading day immediately preceding the maturity date. Upon conversion, holders of the Notes will receive shares of the Company’s common stock, together, if applicable, with cash in lieu of any fractional share, at the then-applicable conversion rate. The initial conversion rate is 56.9801 shares of the Company’s common stock per $1,000 principal amount of Notes (representing an initial conversion price of approximately $17.55 per share of common stock, which represents an initial conversion premium of approximately 30% above the closing price of $13.50 per share of the Company’s common stock on February 28, 2019 March 15, 2022, Initially there are no Holders may The Company may not March 15, 2022. March 15, 2022, may not The Indenture contains covenants that limit the Company’s ability and the ability of our subsidiaries to, among other things: (i) incur or guarantee additional indebtedness or issue disqualified stock; and (ii) create or incur liens. Pursuant to the guidance in ASC 815 40, Contracts in Entity’s Own Equity 815 40, 1 2 815 40 25 7 815 40 25 10. not 470 20, Debt with Conversion and Other Options The Company incurred approximately $4.1 million in transaction costs in connection with the issuance of the Notes. These costs were recognized as a reduction of the carrying amount of the Notes utilizing the effective interest method and are being amortized over the term of the notes. The following table sets forth interest expense information related to the Notes (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Contractual interest expense $ 1,006 $ 1,006 $ 2,013 $ 1,308 Amortization of debt issuance costs 205 205 414 266 Total interest cost $ 1,211 $ 1,211 $ 2,427 $ 1,574 Effective interest rate 5.1 % 5.1 % 5.1 % 5.1 % |
Note 13 - Accrued Liabilities
Note 13 - Accrued Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 13. Accrued liabilities consisted of the following for the periods indicated (in thousands): June 30, 2020 December 31, 2019 Accrued payroll $ 7,737 $ 11,009 Accrued employee benefits 2,484 2,288 Accrued state and local taxes 688 1,215 Accrued interest 1215 1208 Advance payments 455 312 Accrued product warranty 785 821 Accrued commission expenses 972 420 Accrued professional fees 232 222 Accrued utility expenses 351 155 Accrued other 638 214 Total accrued liabilities $ 15,557 $ 17,864 |
Note 14 - Other Income and Expe
Note 14 - Other Income and Expense | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | Note 14. Other income and (expense) consisted of the following for the periods indicated (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Foreign exchange transaction gain (loss) $ 113 $ 216 $ 252 $ (17 ) Government subsidy income 876 74 981 162 Other non-operating gain (loss) (6 ) 161 6 161 Loss on disposal of assets (9 ) — (9 ) (10 ) Total other income, net $ 974 $ 451 $ 1,230 $ 296 |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 15. Equity Plans The Company’s board of directors and stockholders approved the following equity plans: ● the 2006 ● the 2013 “2013 The Company issued stock options, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) to employees, consultants and non-employee directors. Stock option awards generally vest over a four ten may September 2013, third Stock Options Options have been granted to the Company’s employees under the two first ten The following is a summary of option activity (in thousands, except per share data): Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding at January 1, 2020 281 $ 10.20 $ 5.32 $ 573 Exercised (1 ) — — — Outstanding, June 30, 2020 280 $ 10.22 $ 5.32 3.13 341 Exercisable, June 30, 2020 280 $ 10.22 3.62 341 Vested and expected to vest 280 $ 10.22 3.13 341 As of June 30, 2020 Restricted Stock Units/Awards The following is a summary of RSU/RSA activity (in thousands, except per share data): Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2020 770 $ 25.18 $ 9,143 Granted 1,181 11.41 13,482 Released (275 ) $ 10.55 22.04 2,901 Cancelled/Forfeited (18 ) 17.1 191 Outstanding, June 30, 2020 1,658 15.98 18,023 Vested and expected to vest 1,658 15.98 18,023 As of June 30, 2020 Share-Based Compensation Employee share-based compensation expenses recognized for the periods indicated (in thousands): Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Share-based compensation - by expense type Cost of goods sold $ 237 $ 198 $ 483 $ 387 Research and development 704 657 1,392 1,296 Sales and marketing 295 279 586 550 General and administrative 2,066 1,885 4,079 3,728 Total share-based compensation expense $ 3,302 $ 3,019 $ 6,540 $ 5,961 |
Note 16 - Income Taxes
Note 16 - Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 16. The Company’s tax provision or benefit from income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. The Company’s quarterly tax provision, and its quarterly estimate of its annual effective tax rate, are subject to significant variation due to several factors, including variability in accurately predicting its pre-tax income and loss and the mix of jurisdictions to which they relate, tax law developments and relative changes in permanent tax benefits or expenses. The Company’s effective tax rate for the three June 30, 2020 2019 three June 30, 2020, three June 30, 2019 The Company’s effective tax rate for the six June 30, 2020 2019 six June 30, 2020, six June 30, 2019 Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing DTAs. A significant piece of objective negative evidence evaluated was the cumulative losses incurred over the three June 30, 2020 On the basis of this evaluation, as of June 30, 2020, not no In response to the global pandemic related to COVID- 19, March 27, 2020. 163 six June 30 , 2020, no 19 |
Note 17 - Geographic Informatio
Note 17 - Geographic Information | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 17. The Company operates in one reportable segment. The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker, manages the Company’s operations as a whole and reviews financial information presented on a consolidated basis, accompanied by information about product revenue, for purposes of evaluating financial performance and allocating resources. The following tables set forth the Company’s revenue and asset information by geographic region. Revenue is classified based on the location of where the product is manufactured. Long-lived assets in the tables below comprise only property, plant, equipment and intangible assets (in thousands): Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Revenues: United States $ 4,735 $ 1,652 $ 8,496 $ 3,650 Taiwan 40,604 22,108 64,486 46,128 China 19,883 19,651 32,707 46,352 $ 65,222 $ 43,411 $ 105,689 $ 96,130 As of the period ended June 30, December 31, 2020 2019 Long-lived assets: United States $ 93,604 $ 94,507 Taiwan 72,420 73,816 China 95,219 97,687 $ 261,243 $ 266,010 |
Note 18 - Contingencies
Note 18 - Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 18. Litigation Overview From time to time, the Company may not Except for the lawsuits described below, the Company believes that there are no Class Action and Shareholder Derivative Litigation On August 5, 2017, two Mona Abouzied v. Applied Optoelectronics, Inc., Chih-Hsiang (Thompson) Lin, and Stefan J. Murry, et al. No. 4:17 02399. 10 20 August 3, 2017 40G one 100G.” August 16, 2017 ( No. 4:17 02512 two January 22, 2018, March 6, 2018. April 4, 2018, March 28, 2019. May 15, 2019, X. May 16, 2019. second May 28, 2019, 23 July 12, 2019, August 26, 2019, November 13, 2019, November 27, 2019. December 11, 2019, December 16, 2019, December 20, 2019. January 3, 2020, January 13, 2020, January 21, 2020. January 23, 2020, 90 January 24, 2020. April 7, 2020, 40 June 2, 2020. On June 2, 2020, June 4, 2020, no August 3, 2020. On August 3, 2020, $15.5 not not not On August 7, 2018, Lei Jin, derivatively on behalf of Applied Optoelectronics, Inc. v. Chih-Hsiang (“Thompson”) Lin, Stefan J. Murry, William H. Yeh, Alex Ignatiev, Richard B. Black, Min-Chu Chen, Alan Moore, and Che-Wei Lin and Applied Optoelectronics, Inc. No. 4:18 02713 14 Abouzied December 18, 2018, second Yiu Kwong Ng v. Chih-Hsiang (“Thompson”) Lin, Stefan J. Murry, William H. Yeh, Alex Ignatiev, Richard B. Black, Min-Chu Chen, Alan Moore, and Che-Wei Lin and Applied Optoelectronics, Inc. No. 4:18 4751 Jin September 28, 2018 25G January 11, 2019, two January 15, 2019, June 24, 2020, July 2, 2020, August 3, 2020. July 31, 2020, September 2, 2020. not |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 19. As of reporting date , |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 In June 2016, 2016 13 not January 1, 2020. not may In March 2020, 2020 03, seven 2020 03 not Recent Accounting Pronouncements Yet to be Adopted In December 2019, 2019 12, 740 . In March 2020, 2020 04, 848 March 12, 2020, may December 31, 2022. |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended June 30, % of % of 2020 Revenue 2019 Revenue Data Center $ 52,533 80.5 % $ 31,806 73.3 % CATV 6,141 9.4 % 9,818 22.6 % Telecom 6,170 9.5 % 1,630 3.8 % FTTH 1 0.0 % 16 0.0 % Other 377 0.6 % 141 0.3 % Total Revenue $ 65,222 100.0 % $ 43,411 100.0 % Six months ended June 30, % of % of 2020 Revenue 2019 Revenue Data Center $ 85,797 81.2 % $ 70,305 73.1 % CATV 10,364 9.8 % 21,780 22.7 % Telecom 8,730 8.3 % 3,368 3.5 % FTTH 1 0.0 % 110 0.1 % Other 797 0.7 % 567 0.6 % Total Revenue $ 105,689 100.0 % $ 96,130 100.0 % |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended June 30, 2020 2019 Operating lease expense $ 296 $ 318 Financing lease expense 8 — Short Term lease expense 37 51 Total lease expense $ 341 $ 369 Six months ended June 30, 2020 2019 Weighted Average Remaining Lease Term (Years) - operating leases 8.65 9.69 Weighted Average Remaining Lease Term (Years) - financing leases 3.33 — Weighted Average Discount Rate - operating leases 3.16 % 3.13 % Weighted Average Discount Rate - financing leases 5.00 % — Six months ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 640 676 Operating cash flows from financing lease 3 — Financing cash flows from financing lease 8 — Right-of-use assets obtained in exchange for new operating lease liabilities 261 15 |
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block] | Operating Financing 2021 $ 1,268 $ 22 2022 1,227 22 2023 1,171 22 2024 1,113 55 2025 1,123 — 2026 and thereafter 4,572 — Total lease payments $ 10,474 $ 121 Less imputed interest (1,738 ) (13 ) Present value $ 8,736 $ 108 |
Note 5 - Cash, Cash Equivalen_2
Note 5 - Cash, Cash Equivalents and Restricted Cash (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | June 30, December 31, 2020 2019 Cash and cash equivalents $ 51,131 $ 59,977 Restricted cash 7,778 7,051 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 58,909 $ 67,028 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Numerator: Net loss $ (18,600 ) $ (11,366 ) $ (35,397 ) $ (21,840 ) Denominator: Weighted average shares used to compute net loss per share Basic 20,858 19,932 20,533 19,898 Diluted 20,858 19,932 20,533 19,898 Net loss per share Basic $ (0.89 ) $ (0.57 ) $ (1.72 ) $ (1.10 ) Diluted $ (0.89 ) $ (0.57 ) $ (1.72 ) $ (1.10 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Employee stock options 11 29 13 63 Restricted stock units 10 — 13 2 Shares for convertible senior notes 4,587 4,587 4,587 4,587 Total antidilutive shares 4,608 4,616 4,613 4,652 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2020 December 31, 2019 Raw materials $ 33,808 $ 15,570 Work in process and sub-assemblies 53,049 50,787 Finished goods 10,394 18,671 Total inventories $ 97,251 $ 85,028 |
Note 8 - Property, Plant and _2
Note 8 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2020 December 31, 2019 Land improvements $ 806 $ 806 Building and improvements 84,375 83,846 Machinery and equipment 239,213 237,464 Furniture and fixtures 5,276 5,105 Computer equipment and software 11,123 10,506 Transportation equipment 657 658 341,450 338,385 Less accumulated depreciation and amortization (126,778 ) (116,979 ) 214,672 221,406 Construction in progress 28,353 25,937 Land 1,101 1,101 Total property, plant and equipment, net $ 244,126 $ 248,444 |
Note 9 - Intangible Assets, N_2
Note 9 - Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2020 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,850 $ (3,850 ) $ 4,000 Trademarks 20 (14 ) 6 Total intangible assets $ 7,870 $ (3,864 ) $ 4,006 December 31, 2019 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,638 $ (3,560 ) $ 4,078 Trademarks 17 (14 ) 3 Total intangible assets $ 7,655 $ (3,574 ) $ 4,081 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2021 $ 561 2022 561 2023 561 2024 561 2025 561 thereafter 1,201 $ 4,006 |
Note 10 - Fair Value of Finan_2
Note 10 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of June 30, 2020 As of December 31, 2019 (Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Total Assets: Cash and cash equivalents $ 51,131 $ — $ — $ 51,131 $ 59,977 $ — $ — $ 59,977 Restricted cash 7,778 — — 7,778 7,051 — — 7,051 Total assets $ 58,909 $ — $ — $ 58,909 $ 67,028 $ — $ — $ 67,028 Liabilities: Bank acceptance payable — $ 9,866 — $ 9,866 — $ 6,310 — 6,310 Convertible senior notes — 68,591 — 68,591 — 77,191 — 77,191 Total liabilities $ — $ 78,457 $ — $ 78,457 $ — $ 83,501 $ — $ 83,501 |
Note 11 - Notes Payable and L_2
Note 11 - Notes Payable and Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2020 December 31, 2019 Revolving line of credit with a U.S. bank up to $20,000 1.5% April 2, 2021 $ 18,741 $ 20,000 Paycheck Protection Program Term Note with interest at fixed rate 1.0% April 16, 2022 6,229 — Revolving line of credit with a Taiwan bank up to $3,336 2.2% July 31, 2020 3,375 3,336 Notes payable to a finance company due in monthly installments with 3.4% November 30, 2021 3,187 4,262 Notes payable to a finance company due in monthly installments with 3.1% January 21, 2022 3,562 4,633 Revolving line of credit with a Taiwan bank up to $2,668 1.7% April 11, 2020 — 2,668 Revolving line of credit with a China bank up to $8,917 4.5% October 14, 2020 977 — Revolving line of credit with a China bank up to $25,449 3.01% 4.57% May 24, 2024 9,698 7,919 Credit facility with a China bank up to $14,125 3.5% November 7, 2020 4,999 — Credit facility with a China bank up to $7,167 5.7% June 20, 2022 7,063 7,167 Sub-total 57,831 49,985 Less debt issuance costs, net (55 ) (62 ) Grand total 57,776 49,923 Less current portion (42,234 ) (33,371 ) Non-current portion $ 15,542 $ 16,552 Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 9,866 $ 6,310 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 $ 42,234 2022 15,542 Total outstanding $ 57,776 |
Note 12 - Convertible Senior _2
Note 12 - Convertible Senior Notes (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Convertible Debt [Table Text Block] | June 30, December 31, 2020 2019 Principal $ 80,500 $ 80,500 Unamortized debt issuance costs (3,061 ) (3,459 ) Net carrying amount $ 77,439 $ 77,041 |
Interest Income and Interest Expense Disclosure [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Contractual interest expense $ 1,006 $ 1,006 $ 2,013 $ 1,308 Amortization of debt issuance costs 205 205 414 266 Total interest cost $ 1,211 $ 1,211 $ 2,427 $ 1,574 Effective interest rate 5.1 % 5.1 % 5.1 % 5.1 % |
Note 13 - Accrued Liabilities (
Note 13 - Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2020 December 31, 2019 Accrued payroll $ 7,737 $ 11,009 Accrued employee benefits 2,484 2,288 Accrued state and local taxes 688 1,215 Accrued interest 1215 1208 Advance payments 455 312 Accrued product warranty 785 821 Accrued commission expenses 972 420 Accrued professional fees 232 222 Accrued utility expenses 351 155 Accrued other 638 214 Total accrued liabilities $ 15,557 $ 17,864 |
Note 14 - Other Income and Ex_2
Note 14 - Other Income and Expense (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Foreign exchange transaction gain (loss) $ 113 $ 216 $ 252 $ (17 ) Government subsidy income 876 74 981 162 Other non-operating gain (loss) (6 ) 161 6 161 Loss on disposal of assets (9 ) — (9 ) (10 ) Total other income, net $ 974 $ 451 $ 1,230 $ 296 |
Note 15 - Share-based Compens_2
Note 15 - Share-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding at January 1, 2020 281 $ 10.20 $ 5.32 $ 573 Exercised (1 ) — — — Outstanding, June 30, 2020 280 $ 10.22 $ 5.32 3.13 341 Exercisable, June 30, 2020 280 $ 10.22 3.62 341 Vested and expected to vest 280 $ 10.22 3.13 341 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2020 770 $ 25.18 $ 9,143 Granted 1,181 11.41 13,482 Released (275 ) $ 10.55 22.04 2,901 Cancelled/Forfeited (18 ) 17.1 191 Outstanding, June 30, 2020 1,658 15.98 18,023 Vested and expected to vest 1,658 15.98 18,023 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Share-based compensation - by expense type Cost of goods sold $ 237 $ 198 $ 483 $ 387 Research and development 704 657 1,392 1,296 Sales and marketing 295 279 586 550 General and administrative 2,066 1,885 4,079 3,728 Total share-based compensation expense $ 3,302 $ 3,019 $ 6,540 $ 5,961 |
Note 17 - Geographic Informat_2
Note 17 - Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Revenues: United States $ 4,735 $ 1,652 $ 8,496 $ 3,650 Taiwan 40,604 22,108 64,486 46,128 China 19,883 19,651 32,707 46,352 $ 65,222 $ 43,411 $ 105,689 $ 96,130 |
Long-lived Assets by Geographic Areas [Table Text Block] | As of the period ended June 30, December 31, 2020 2019 Long-lived assets: United States $ 93,604 $ 94,507 Taiwan 72,420 73,816 China 95,219 97,687 $ 261,243 $ 266,010 |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Revenue by Major Product Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total Revenue | $ 65,222 | $ 43,411 | $ 105,689 | $ 96,130 |
Percent of Revenue | 100.00% | 100.00% | 100.00% | 100.00% |
Data Center [Member] | ||||
Total Revenue | $ 52,533 | $ 31,806 | $ 85,797 | $ 70,305 |
Percent of Revenue | 80.50% | 73.30% | 81.20% | 73.10% |
CATV [Member] | ||||
Total Revenue | $ 6,141 | $ 9,818 | $ 10,364 | $ 21,780 |
Percent of Revenue | 9.40% | 22.60% | 9.80% | 22.70% |
Telecom [Member] | ||||
Total Revenue | $ 6,170 | $ 1,630 | $ 8,730 | $ 3,368 |
Percent of Revenue | 9.50% | 3.80% | 8.30% | 3.50% |
FTTH [Member] | ||||
Total Revenue | $ 1 | $ 16 | $ 1 | $ 110 |
Percent of Revenue | 0.00% | 0.00% | 0.00% | 0.10% |
Product and Service, Other [Member] | ||||
Total Revenue | $ 377 | $ 141 | $ 797 | $ 567 |
Percent of Revenue | 0.60% | 0.30% | 0.70% | 0.60% |
Note 4 - Leases - Components of
Note 4 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Operating lease expense | $ 296 | $ 318 | ||
Financing lease expense | 8 | 0 | ||
Short Term lease expense | 37 | 51 | ||
Total lease expense | $ 341 | $ 369 | ||
Weighted Average Remaining Lease Term (Years) - operating leases (Year) | 8 years 7 months 24 days | 9 years 8 months 8 days | 8 years 7 months 24 days | 9 years 8 months 8 days |
Weighted Average Remaining Lease Term (Years) - financing leases (Year) | 3 years 3 months 29 days | 3 years 3 months 29 days | ||
Weighted Average Discount Rate - operating leases | 3.16% | 3.13% | 3.16% | 3.13% |
Weighted Average Discount Rate - financing leases | 5.00% | 5.00% | ||
Operating cash flows from operating leases | $ 640 | $ 676 | ||
Operating cash flows from financing lease | 3 | 0 | ||
Financing cash flows from financing lease | 8 | 0 | ||
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 261 | $ 15 |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Jun. 30, 2020USD ($) |
2021, operating leases | $ 1,268 |
2021, financing leases | 22 |
2022, operating leases | 1,227 |
2022, financing leases | 22 |
2023, operating leases | 1,171 |
2023, financing leases | 22 |
2024, operating leases | 1,113 |
2024, financing leases | 55 |
2025, operating leases | 1,123 |
2025, financing leases | 0 |
2025 and thereafter, operating leases | 4,572 |
2025 and thereafter, financing leases | 0 |
Total operating lease payments | 10,474 |
Total financing lease payments | 121 |
Less imputed interest, operating leases | (1,738) |
Less imputed interest, financing leases | (13) |
Present value, operating leases | 8,736 |
Present value, financing leases | $ 108 |
Note 5 - Cash, Cash Equivalen_3
Note 5 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Restricted Cash and Cash Equivalents, Current, Total | $ 7,778 | $ 7,051 |
CHINA | ||
Certificates of Deposit, at Carrying Value | 1,900 | 4,200 |
Bankers Acceptance [Member] | ||
Restricted Cash and Cash Equivalents, Current, Total | $ 3,200 | $ 1,900 |
Note 5 - Cash, Cash Equivalen_4
Note 5 - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 51,131 | $ 59,977 | ||
Restricted cash | 7,778 | 7,051 | ||
Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $ 58,909 | $ 67,028 | $ 83,987 | $ 58,004 |
Note 6 - Earnings Per Share - C
Note 6 - Earnings Per Share - Computation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net loss | $ (18,600) | $ (11,366) | $ (35,397) | $ (21,840) |
Basic (in shares) | 20,858,450 | 19,931,745 | 20,533,417 | 19,897,602 |
Diluted (in shares) | 20,858,450 | 19,931,745 | 20,533,417 | 19,897,602 |
Basic (in dollars per share) | $ (0.89) | $ (0.57) | $ (1.72) | $ (1.10) |
Diluted (in dollars per share) | $ (0.89) | $ (0.57) | $ (1.72) | $ (1.10) |
Note 6 - Earnings Per Share - P
Note 6 - Earnings Per Share - Potentially Dilutive Securities Excluded from Diluted Net Income (Loss) per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total antidilutive shares (in shares) | 4,608 | 4,616 | 4,613 | 4,652 |
Share-based Payment Arrangement, Option [Member] | ||||
Total antidilutive shares (in shares) | 11 | 29 | 13 | 63 |
Restricted Stock Units (RSUs) [Member] | ||||
Total antidilutive shares (in shares) | 10 | 0 | 13 | 2 |
Convertible Debt Securities [Member] | ||||
Total antidilutive shares (in shares) | 4,587 | 4,587 | 4,587 | 4,587 |
Note 7 - Inventories (Details T
Note 7 - Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Inventory, LIFO Reserve, Period Charge | $ 1,300 | $ 2,900 | $ 2,924 | $ 5,207 |
Inventory Write-down | $ 3,700 | $ 2,400 | $ 6,200 | $ 5,200 |
Note 7 - Inventories - Inventor
Note 7 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Raw materials | $ 33,808 | $ 15,570 |
Work in process and sub-assemblies | 53,049 | 50,787 |
Finished goods | 10,394 | 18,671 |
Total inventories | $ 97,251 | $ 85,028 |
Note 8 - Property, Plant and _3
Note 8 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Depreciation, Total | $ 6 | $ 5.9 | $ 11.9 | $ 11.7 | |
Interest Paid, Capitalized, Investing Activities | $ 0.4 | $ 0.2 |
Note 8 - Property, Plant and _4
Note 8 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Property, plant and equipment, gross | $ 341,450 | $ 338,385 |
Less accumulated depreciation and amortization | (126,778) | (116,979) |
Property, plant and equipment, net before construction in progress and land | 214,672 | 221,406 |
Property, plant and equipment, net | 244,126 | 248,444 |
Land Improvements [Member] | ||
Property, plant and equipment, gross | 806 | 806 |
Building and Building Improvements [Member] | ||
Property, plant and equipment, gross | 84,375 | 83,846 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | 239,213 | 237,464 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 5,276 | 5,105 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment, gross | 11,123 | 10,506 |
Vehicles [Member] | ||
Property, plant and equipment, gross | 657 | 658 |
Construction in Progress [Member] | ||
Property, plant and equipment, net | 28,353 | 25,937 |
Land [Member] | ||
Property, plant and equipment, net | $ 1,101 | $ 1,101 |
Note 9 - Intangible Assets, N_3
Note 9 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Amortization of Intangible Assets, Total | $ 0.1 | $ 0.1 | $ 0.3 | $ 0.3 |
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years |
Note 9 - Intangible Assets, N_4
Note 9 - Intangible Assets, Net - Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Intangible assets, gross amount | $ 7,870 | $ 7,655 |
Intangible assets, accumulated amortization | (3,864) | (3,574) |
Intangible assets, net | 4,006 | 4,081 |
Patents [Member] | ||
Intangible assets, gross amount | 7,850 | 7,638 |
Intangible assets, accumulated amortization | (3,850) | (3,560) |
Intangible assets, net | 4,000 | 4,078 |
Trademarks [Member] | ||
Intangible assets, gross amount | 20 | 17 |
Intangible assets, accumulated amortization | (14) | (14) |
Intangible assets, net | $ 6 | $ 3 |
Note 9 - Intangible Assets, N_5
Note 9 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
2021 | $ 561 | |
2022 | 561 | |
2023 | 561 | |
2024 | 561 | |
2025 | 561 | |
thereafter | 1,201 | |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 4,006 | $ 4,081 |
Note 10 - Fair Value of Finan_3
Note 10 - Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 51,131 | $ 59,977 |
Restricted cash | 7,778 | 7,051 |
Total assets | 58,909 | 67,028 |
Bank acceptance payable | 9,866 | 6,310 |
Convertible senior notes | 68,591 | 77,191 |
Total liabilities | 78,457 | 83,501 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 51,131 | 59,977 |
Restricted cash | 7,778 | 7,051 |
Total assets | 58,909 | 67,028 |
Bank acceptance payable | 0 | 0 |
Convertible senior notes | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total assets | 0 | 0 |
Bank acceptance payable | 9,866 | 6,310 |
Convertible senior notes | 68,591 | 77,191 |
Total liabilities | 78,457 | 83,501 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total assets | 0 | 0 |
Bank acceptance payable | 0 | 0 |
Convertible senior notes | 0 | 0 |
Total liabilities | $ 0 | $ 0 |
Note 11 - Notes Payable and L_3
Note 11 - Notes Payable and Long-term Debt (Details Textual) | Apr. 17, 2020USD ($) | Apr. 14, 2020 | Sep. 30, 2019USD ($) | Jul. 23, 2019USD ($) | Jun. 21, 2019USD ($) | May 24, 2019USD ($) | May 08, 2019USD ($) | May 07, 2019USD ($) | Apr. 30, 2019USD ($) | Apr. 19, 2019USD ($) | Apr. 11, 2019USD ($) | Mar. 05, 2019USD ($) | Jan. 21, 2019USD ($) | Jan. 21, 2019TWD ($) | Dec. 11, 2018 | Nov. 29, 2018USD ($) | Nov. 29, 2018TWD ($) | Mar. 30, 2018USD ($) | Sep. 28, 2017USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020 | Dec. 31, 2019USD ($) | Jul. 23, 2019TWD ($) | Jun. 21, 2019CNY (¥) | May 24, 2019CNY (¥) | May 07, 2019CNY (¥) | Apr. 30, 2019CNY (¥) | Apr. 19, 2019CNY (¥) | Apr. 11, 2019TWD ($) | Jan. 21, 2019TWD ($) | Nov. 29, 2018TWD ($) |
Long-term Debt, Gross | $ 57,831,000 | $ 49,985,000 | |||||||||||||||||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 26,900,000 | $ 34,700,000 | |||||||||||||||||||||||||||||
LIBOR Rate | 0.20% | 1.80% | |||||||||||||||||||||||||||||
Cash Collateral for Borrowed Securities | $ 5,100,000 | $ 6,100,000 | |||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 3,187,000 | $ 4,262,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.40% | 3.40% | |||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 6,800,000 | $ 210,601,605 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 3,200,000 | ||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities, Total | $ 8,700,000 | $ 267,340,468 | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Initial Payment | $ 2,200,000 | $ 67,340,468 | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Imputed Interest Rate | 3.50% | 3.50% | |||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities, Total | $ 8,700,000 | $ 267,333,186 | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Initial Payment | $ 2,200,000 | $ 67,333,186 | |||||||||||||||||||||||||||||
Sale Leaseback Transaction, Imputed Interest Rate | 3.10% | 3.10% | |||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 6,800,000 | $ 209,555,736 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | 3,600,000 | ||||||||||||||||||||||||||||||
Minimum [Member] | Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 5,571,229 | |||||||||||||||||||||||||||||
Minimum [Member] | Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | 200,000 | $ 5,570,167 | |||||||||||||||||||||||||||||
Maximum [Member] | Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 6,139,188 | |||||||||||||||||||||||||||||
Maximum [Member] | Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 6,082,131 | |||||||||||||||||||||||||||||
Paycheck Protection Program, CARES Act [Member] | |||||||||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 6,230,000 | ||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 6,229,000 | $ 0 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | 1.00% | |||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | CapEx Loan [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 26,000,000 | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | Term Loan [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 70 months | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 21,500,000 | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | CapEx Loan and Term Loan [Member] | |||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 37,800,000 | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | CapEx Loan [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.30% | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | CapEx Loan [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.15% | ||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||||||||||||||||||||||
Far Eastern [Member] | Far Eastern's Published One-Year Fixed Term Time Deposits Rate [Member] | Far Eastern Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.655% | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.045% | ||||||||||||||||||||||||||||||
Far Eastern [Member] | TAIFX3 Rate [Member] | Far Eastern Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.70% | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.75% | ||||||||||||||||||||||||||||||
SPD Bank [Member] | The SPD 30M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.32% | 4.32% | |||||||||||||||||||||||||||||
SPD Bank [Member] | The $2M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.59438% | ||||||||||||||||||||||||||||||
SPD Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | The $2M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.48% | ||||||||||||||||||||||||||||||
SPD Bank [Member] | Prime Rate [Member] | The SPD 9.9M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.2475% | ||||||||||||||||||||||||||||||
SPD Bank [Member] | Prime Rate [Member] | The SPD 30M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.2475% | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000,000 | $ 25,000,000 | $ 60,000,000 | $ 50,000,000 | |||||||||||||||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Fee, Percentage | 0.30% | 0.20% | |||||||||||||||||||||||||||||
Line of Credit Facility, Percentage of Maximum Borrowing Capacity, Threshold for Financial Covenants | 75.00% | 60.00% | |||||||||||||||||||||||||||||
Fixed Charge Cover Ratio, Minimum Threshold | 1.5 | ||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 18,700,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.40% | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | CTBC Bank Co., Ltd. [Member] | Credit Facility with CTBC Bank Co., Ltd [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Far Eastern [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,668,000 | $ 2,668,000 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 0 | $ 2,668,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | 1.70% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Far Eastern [Member] | Far Eastern Credit Facility [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,600,000 | $ 80,000,000 | |||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 180 days | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | The NT$100M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,300,000 | $ 100,000,000 | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | The US $1M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,336,000 | $ 3,336,000 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 3,375,000 | $ 3,336,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | 2.20% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 3,400,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | Minimum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 90 days | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | 2.20% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | Maximum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 120 days | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | 2.25% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Construction Bank Co., Ltd. [Member] | China Merchants Credit Line [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 12 months | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | ¥ | ¥ 60,000,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 8,917,000 | $ 8,917,000 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 977,000 | $ 0 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | China Merchants Credit Line [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 6 months | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,900,000 | ||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 1,000,000 | ||||||||||||||||||||||||||||||
Bank Acceptances Executed | 2,300,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 25,449 | $ 25,449 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 9,698,000 | $ 7,919,000 | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.01% | 3.01% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.57% | 4.57% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD 9.9M Credit Facility [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500,000 | ¥ 9,900,000 | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD 30M Credit Facility [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500,000 | ¥ 30,000,000 | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The $2M Credit Facility [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 6 months | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | ||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 9,700,000 | ||||||||||||||||||||||||||||||
Bank Acceptances Executed | 7,600,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD Credit Line [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,400,000 | ¥ 180,000,000 | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 14,125,000 | $ 14,125,000 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 4,999,000 | $ 0 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 18 months | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 14,100,000 | ¥ 100,000,000 | |||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 5,000,000 | ||||||||||||||||||||||||||||||
Bank Acceptances Executed | 0 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 7,167 | $ 7,167 | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 7,063,000 | $ 7,167,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | 5.70% | |||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | Global Technology, Inc. [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,100,000 | ¥ 50,000,000 | |||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 7,100,000 |
Note 11 - Notes Payable and L_4
Note 11 - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Long-term debt | $ 57,831 | $ 49,985 |
Less debt issuance costs, net | 55 | 62 |
Grand total | 57,776 | 49,923 |
Less current portion | 42,234 | 33,371 |
Non-current portion | 15,542 | 16,552 |
Bank acceptance notes issued to vendors with a zero percent interest rate | 9,866 | 6,310 |
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | ||
Long-term debt | 3,187 | 4,262 |
Chailease Finance Co, Ltd. [Member] | Promissory Note 2 [Member] | ||
Long-term debt | 3,562 | 4,633 |
Paycheck Protection Program, CARES Act [Member] | ||
Long-term debt | 6,229 | 0 |
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | Third Amendment to Loan Agreement with BB and T [Member] | ||
Long-term debt | 18,741 | 20,000 |
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | ||
Long-term debt | 3,375 | 3,336 |
Revolving Credit Facility [Member] | Far Eastern [Member] | ||
Long-term debt | 0 | 2,668 |
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | ||
Long-term debt | 977 | 0 |
Revolving Credit Facility [Member] | SPD Bank [Member] | ||
Long-term debt | 9,698 | 7,919 |
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | ||
Long-term debt | 4,999 | 0 |
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | ||
Long-term debt | $ 7,063 | $ 7,167 |
Note 11 - Notes Payable and L_5
Note 11 - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) (Parentheticals) - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Mar. 05, 2019 | Mar. 30, 2018 | Sep. 28, 2017 | |
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | ||||||
Long-term debt, interest | 3.40% | 3.40% | ||||
Debt Instrument, Maturity Date | Nov. 30, 2021 | Nov. 30, 2021 | ||||
Chailease Finance Co, Ltd. [Member] | Promissory Note 2 [Member] | ||||||
Long-term debt, interest | 3.10% | 3.10% | ||||
Debt Instrument, Maturity Date | Jan. 21, 2022 | Jan. 21, 2022 | ||||
Branch Banking and Trust Company [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 20,000,000 | $ 25,000,000 | $ 60,000,000 | $ 50,000,000 | ||
Far Eastern [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 2,668,000 | $ 2,668,000 | ||||
Long-term debt, interest | 1.70% | 1.70% | ||||
Debt Instrument, Maturity Date | Apr. 11, 2020 | Apr. 11, 2020 | ||||
China Merchants Bank Co, Ltd [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 8,917,000 | $ 8,917,000 | ||||
Long-term debt, interest | 4.50% | 4.50% | ||||
Debt Instrument, Maturity Date | Oct. 14, 2020 | Oct. 14, 2020 | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 25,449 | $ 25,449 | ||||
Debt Instrument, Maturity Date | May 24, 2024 | May 24, 2024 | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | Minimum [Member] | ||||||
Long-term debt, interest | 3.01% | 3.01% | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | Maximum [Member] | ||||||
Long-term debt, interest | 4.57% | 4.57% | ||||
Third Amendment to Loan Agreement with BB and T [Member] | Branch Banking and Trust Company [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 20,000,000 | $ 20,000,000 | ||||
Long-term debt, interest | 1.50% | 1.50% | ||||
Debt Instrument, Maturity Date | Apr. 2, 2021 | Apr. 2, 2021 | ||||
Paycheck Protection Program, CARES Act [Member] | ||||||
Long-term debt, interest | 1.00% | 1.00% | ||||
Debt Instrument, Maturity Date | Apr. 16, 2022 | Apr. 16, 2022 | ||||
Credit Facility [Member] | Taishin International Bank [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 3,336,000 | $ 3,336,000 | ||||
Long-term debt, interest | 2.20% | 2.20% | ||||
Debt Instrument, Maturity Date | Jul. 31, 2020 | Jul. 31, 2020 | ||||
The ¥100M Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 14,125,000 | $ 14,125,000 | ||||
Long-term debt, interest | 3.50% | 3.50% | ||||
Debt Instrument, Maturity Date | Nov. 7, 2020 | Nov. 7, 2020 | ||||
The ¥50M Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 7,167 | $ 7,167 | ||||
Long-term debt, interest | 5.70% | 5.70% | ||||
Debt Instrument, Maturity Date | Jun. 20, 2022 | Jun. 20, 2022 |
Note 11 - Notes Payable and L_6
Note 11 - Notes Payable and Long-term Debt - Maturities of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
2021 | $ 42,234 | |
2022 | 15,542 | |
Total outstanding | $ 57,776 | $ 49,923 |
Note 12 - Convertible Senior _3
Note 12 - Convertible Senior Notes (Details Textual) - USD ($) | Mar. 05, 2019 | Jun. 30, 2020 | Dec. 31, 2019 |
Branch Banking and Trust Company [Member] | CapEx Loan and Term Loan [Member] | |||
Repayments of Long-term Debt, Total | $ 37,800,000 | ||
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Debt Instrument, Face Amount | $ 80,500,000 | $ 80,500,000 | $ 80,500,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||
Proceeds from Convertible Debt | $ 76,400,000 | ||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 56.9801 | ||
Debt Conversion, Converted Instrument, Amount | $ 1,000 | ||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 17.55 | ||
Debt Instrument, Convertible, Conversion Price Premium, Percentage | 30.00% | ||
Share Price (in dollars per share) | $ 13.50 | ||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130.00% | ||
Debt Instrument, Convertible, Threshold Trading Days | 20 | ||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 | ||
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 100.00% | ||
Debt Issuance Costs, Gross | $ 4,100,000 |
Note 12 - Convertible Senior _4
Note 12 - Convertible Senior Notes - Schedule of Carrying Value of Convertible Senior Notes (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Mar. 05, 2019 |
Net carrying amount | $ 77,439 | $ 77,041 | |
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Principal | 80,500 | 80,500 | $ 80,500 |
Unamortized debt issuance costs | (3,061) | (3,459) | |
Net carrying amount | $ 77,439 | $ 77,041 |
Note 12 - Convertible Senior _5
Note 12 - Convertible Senior Notes - Schedule of Interest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Amortization of debt issuance costs | $ 444 | $ 457 | ||
The 5% Convertible Senior Notes Due 2024 [Member] | ||||
Contractual interest expense | $ 1,006 | $ 1,006 | 2,013 | 1,308 |
Amortization of debt issuance costs | 205 | 205 | 414 | 266 |
Total interest cost | $ 1,211 | $ 1,211 | $ 2,427 | $ 1,574 |
Effective interest rate | 5.10% | 5.10% | 5.10% | 5.10% |
Note 13 - Accrued Liabilities -
Note 13 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Accrued payroll | $ 7,737 | $ 11,009 |
Accrued employee benefits | 2,484 | 2,288 |
Accrued state and local taxes | 688 | 1,215 |
Accrued interest | 1,215 | 1,208 |
Advance payments | 455 | 312 |
Accrued product warranty | 785 | 821 |
Accrued commission expenses | 972 | 420 |
Accrued professional fees | 232 | 222 |
Accrued utility expenses | 351 | 155 |
Accrued other | 638 | 214 |
Total accrued liabilities | $ 15,557 | $ 17,864 |
Note 14 - Other Income and Ex_3
Note 14 - Other Income and Expense - Other Income and Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Foreign exchange transaction gain (loss) | $ 113 | $ 216 | $ 252 | $ (17) |
Government subsidy income | 876 | 74 | 981 | 162 |
Other non-operating gain (loss) | (6) | 161 | 6 | 161 |
Loss on disposal of assets | (9) | 0 | (9) | (10) |
Total other income, net | $ 974 | $ 451 | $ 1,231 | $ 296 |
Note 15 - Share-based Compens_3
Note 15 - Share-based Compensation (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 |
Share-based Payment Arrangement, Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Share-based Payment Arrangement, Option [Member] | Exercisable on the First Anniversary Date Following the Date of Grant [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% |
Share-based Payment Arrangement, Option [Member] | Exercisable on Semi-annual Basis [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 12.50% |
Restricted Stock Awards and Restricted Stock Units [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 23,500 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 6 months 18 days |
Note 15 - Share-based Compens_4
Note 15 - Share-based Compensation - Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | |
Jun. 30, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / shares | |
Outstanding, number of shares (in shares) | shares | 281 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.20 | |
Outstanding, weighted average fair value (in dollars per share) | $ 5.32 | $ 5.32 |
Outstanding, aggregate intrinsic value | $ | $ 341 | $ 573 |
Exercised, number of shares (in shares) | shares | (1) | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Exercised, aggregate intrinsic value | $ | $ 0 | |
Outstanding, number of shares (in shares) | shares | 280 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.22 | |
Outstanding, weighted average remaining contractual life (Year) | 3 years 1 month 17 days | |
Exercisable, number of shares (in shares) | shares | 280 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 10.22 | |
Exercisable, weighted average remaining contractual life (Year) | 3 years 7 months 13 days | |
Exercisable, aggregate intrinsic value | $ | $ 341 | |
Vested and expected to vest, number of shares (in shares) | shares | 280 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 10.22 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 3 years 1 month 17 days | |
Vested and expected to vest, aggregate intrinsic value | $ | $ 341 |
Note 15 - Share-based Compens_5
Note 15 - Share-based Compensation - Restricted Stock Unit/Awards Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Outstanding, number of shares (in shares) | 770 | |
Outstanding, weighted average fair value (in dollars per share) | $ 25.18 | |
Outstanding, aggregate intrinsic value | $ 18,023 | $ 9,143 |
Granted, number of shares (in shares) | 1,181 | |
Granted, weighted average fair value (in dollars per share) | $ 11.41 | |
Granted, aggregate intrinsic value | $ 13,482 | |
Released, number of shares (in shares) | (275) | |
Released, weighted average share price on date of release (in dollars per share) | $ 10.55 | |
Released, weighted average fair value (in dollars per share) | $ 22.04 | |
Released, aggregate intrinsic value | $ 2,901 | |
Cancelled/Forfeited, number of shares (in shares) | (18) | |
Cancelled/Forfeited, weighted average fair value (in dollars per share) | $ 17.1 | |
Cancelled/Forfeited, aggregate intrinsic value | $ 191 | |
Outstanding, number of shares (in shares) | 1,658 | |
Outstanding, weighted average fair value (in dollars per share) | $ 15.98 | |
Vested and expected to vest, number of shares (in shares) | 1,658 | |
Vested and expected to vest, weighted average fair value (in dollars per share) | $ 15.98 | |
Vested and expected to vest, aggregate intrinsic value | $ 18,023 |
Note 15 - Share-based Compens_6
Note 15 - Share-based Compensation - Share-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total share-based compensation expense | $ 3,302 | $ 3,019 | $ 6,540 | $ 5,961 |
Cost of Sales [Member] | ||||
Total share-based compensation expense | 237 | 198 | 483 | 387 |
Research and Development Expense [Member] | ||||
Total share-based compensation expense | 704 | 657 | 1,392 | 1,296 |
Selling and Marketing Expense [Member] | ||||
Total share-based compensation expense | 295 | 279 | 586 | 550 |
General and Administrative Expense [Member] | ||||
Total share-based compensation expense | $ 2,066 | $ 1,885 | $ 4,079 | $ 3,728 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 258.20% | (22.00%) | 16.25% | (20.60%) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 21.00% |
TAIWAN, PROVINCE OF CHINA | ||||
Deferred Tax Assets, Valuation Allowance, Total | $ 5.2 | $ 5.2 |
Note 17 - Geographic Informat_3
Note 17 - Geographic Information (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Number of Reportable Segments | 1 |
Note 17 - Geographic Informat_4
Note 17 - Geographic Information - Revenue Information by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue, net | $ 65,222 | $ 43,411 | $ 105,689 | $ 96,130 |
UNITED STATES | ||||
Revenue, net | 4,735 | 1,652 | 8,496 | 3,650 |
TAIWAN, PROVINCE OF CHINA | ||||
Revenue, net | 40,604 | 22,108 | 64,486 | 46,128 |
CHINA | ||||
Revenue, net | $ 19,883 | $ 19,651 | $ 32,707 | $ 46,352 |
Note 17 - Geographic Informat_5
Note 17 - Geographic Information - Asset Information by Geographic Region (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Long-lived assets | $ 261,243 | $ 266,010 |
UNITED STATES | ||
Long-lived assets | 93,604 | 94,507 |
TAIWAN, PROVINCE OF CHINA | ||
Long-lived assets | 72,420 | 73,816 |
CHINA | ||
Long-lived assets | $ 95,219 | $ 97,687 |
Note 18 - Contingencies (Detail
Note 18 - Contingencies (Details Textual) $ in Millions | Aug. 03, 2020USD ($) |
Subsequent Event [Member] | |
Loss Contingency, Damages Sought, Value | $ 15.5 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) $ in Thousands | Jul. 02, 2020 | Jun. 30, 2020 | Jun. 30, 2019 |
Repayments of Lines of Credit | $ 48,689 | $ 42,211 | |
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | Subsequent Event [Member] | |||
Repayments of Lines of Credit | $ 18,600 |