Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 20, 2014 | Jun. 30, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'BLONDER TONGUE LABORATORIES INC | ' | ' |
Entity Central Index Key | '0001000683 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Trading Symbol | 'BDR | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 6,216,372 | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $4,257,298 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $67 | $453 |
Accounts receivable, net of allowance for doubtful accounts of $196 | 3,241 | 3,461 |
Inventories | 8,975 | 11,319 |
Prepaid and other current assets | 458 | 723 |
Prepaid benefit costs | 415 | 0 |
Total current assets | 13,156 | 15,956 |
Inventories, net non-current | 2,115 | 2,598 |
Property, plant and equipment, net of accumulated depreciation and amortization | 3,710 | 4,009 |
License agreements, net | 792 | 552 |
Intangible assets, net | 2,216 | 2,470 |
Goodwill | 493 | 493 |
Other assets, net | 159 | 225 |
Total Assets | 22,641 | 26,303 |
Current liabilities: | ' | ' |
Line of credit | 1,275 | 2,244 |
Current portion of long-term debt | 270 | 277 |
Accounts payable | 1,493 | 1,825 |
Accrued compensation | 446 | 330 |
Accrued benefit pension liability | 0 | 617 |
Income taxes payable | 24 | 24 |
Other accrued expenses | 149 | 168 |
Total current liabilities | 3,657 | 5,485 |
Long-term debt | 3,893 | 4,163 |
Deferred income taxes | 63 | 30 |
Commitments and contingencies | 0 | 0 |
Stockholders' equity: | ' | ' |
Preferred stock, $.001 par value; authorized 5,000 shares; no shares outstanding | 0 | 0 |
Common stock, $.001 par value; authorized 25,000 shares, 8,465 shares Issued | 8 | 8 |
Paid-in capital | 26,190 | 25,918 |
Retained earnings (deficit) | -3,194 | -372 |
Accumulated other comprehensive loss | -668 | -1,621 |
Treasury stock, at cost, 2,248 shares | -7,308 | -7,308 |
Total stockholders' equity | 15,028 | 16,625 |
Total Liabilities and Stockholders' Equity | $22,641 | $26,303 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Allowance for doubtful accounts (in dollars) | $196 | $196 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000 | 5,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 25,000 | 25,000 |
Common stock, shares issued | 8,465 | 8,465 |
Treasury stock, shares | 2,248 | 2,248 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net sales | $27,870 | $30,643 |
Cost of goods sold | 18,559 | 20,625 |
Gross profit | 9,311 | 10,018 |
Operating expenses: | ' | ' |
Selling expenses | 3,372 | 3,378 |
General and administrative | 5,111 | 5,635 |
Research and development | 3,373 | 3,500 |
Total Operating expenses | 11,856 | 12,513 |
Loss from operations | -2,545 | -2,495 |
Other expense: | ' | ' |
Interest expense | -277 | -330 |
Loss before income taxes | -2,822 | -2,825 |
Provision for income taxes | 0 | 2,332 |
Net loss | -2,822 | -5,157 |
Net loss per share, basic and diluted (in dollars per share) | ($0.45) | ($0.83) |
Weighted average shares outstanding, basic and diluted (in shares) | 6,216 | 6,216 |
Net loss | -2,822 | -5,157 |
Changes in accumulated unrealized pension losses, net of taxes | 953 | 321 |
Comprehensive loss | ($1,869) | ($4,836) |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | ||||||
Balance at Dec. 31, 2011 | $21,203 | $8 | $25,660 | $4,785 | ($1,942) | ($7,308) |
Balance (in shares) at Dec. 31, 2011 | ' | 8,465 | ' | ' | ' | ' |
Net loss | -5,157 | 0 | 0 | -5,157 | 0 | 0 |
Recognized pension loss, net of taxes | 321 | 0 | 0 | 0 | 321 | 0 |
Stock-based Compensation | 258 | 0 | 258 | 0 | 0 | 0 |
Balance at Dec. 31, 2012 | 16,625 | 8 | 25,918 | -372 | -1,621 | -7,308 |
Balance (in shares) at Dec. 31, 2012 | ' | 8,465 | ' | ' | ' | ' |
Net loss | -2,822 | 0 | 0 | -2,822 | 0 | 0 |
Recognized pension loss, net of taxes | 953 | 0 | 0 | 0 | 953 | 0 |
Stock-based Compensation | 272 | 0 | 272 | 0 | 0 | 0 |
Balance at Dec. 31, 2013 | $15,028 | $8 | $26,190 | ($3,194) | ($668) | ($7,308) |
Balance (in shares) at Dec. 31, 2013 | ' | 8,465 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows From Operating Activities: | ' | ' |
Net loss | ($2,822) | ($5,157) |
Adjustments to reconcile net loss to cash provided by operating activities: | ' | ' |
Depreciation | 453 | 505 |
Amortization | 861 | 933 |
Stock-based compensation expense | 272 | 258 |
Loss on sale of fixed assets | 0 | 55 |
Provision for inventory reserves | 285 | 1,422 |
Provision for doubtful accounts | 0 | 23 |
Non cash pension expense | -79 | 157 |
Deferred income taxes | 33 | 2,311 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 220 | 1,543 |
Inventories | 2,542 | 940 |
Prepaid and other current assets | 265 | -294 |
Other assets | 66 | -29 |
Accounts payable, accrued expenses and accrued compensation | -235 | 949 |
Income tax payable | 0 | 24 |
Net cash provided by operating activities | 1,861 | 3,640 |
Cash Flows From Investing Activities: | ' | ' |
Proceeds on sale of fixed assets | 0 | 130 |
Capital expenditures | -154 | -102 |
Acquisition of licenses | -847 | -576 |
Acquisition of R.L. Drake assets | 0 | -7,020 |
Net cash used in investing activities | -1,001 | -7,568 |
Cash Flows From Financing Activities: | ' | ' |
Net borrowings on line of credit | -969 | 2,244 |
Repayments of debt | -277 | -265 |
Borrowings of debt | 0 | 1,551 |
Net cash provided by (used in) financing activities | -1,246 | 3,530 |
Net decrease in cash | -386 | -398 |
Cash, beginning of year | 453 | 851 |
Cash, end of year | 67 | 453 |
Supplemental Cash Flow Information: | ' | ' |
Cash paid for interest | 264 | 321 |
Cash paid for income taxes | 0 | 0 |
Non cash investing and financing activities: | ' | ' |
Capital expenditures financed by notes payable | $0 | $75 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Basis of Presentation and Significant Accounting Policies [Text Block] | ' | ||||||||||
Note 1 - Summary of Significant Accounting Policies | |||||||||||
(a) Company and Basis of Presentation | |||||||||||
Blonder Tongue Laboratories, Inc. (together with its consolidated subsidiaries, the “Company”) is a technology-development and manufacturing company that delivers television signal encoding, transcoding, digital transport, and broadband product solutions to the markets the Company serves, including the multi-dwelling unit market, the lodging/hospitality market and the institutional market, including hospitals, prisons and schools, primarily throughout the United States and Canada. The consolidated financial statements include the accounts of Blonder Tongue Laboratories, Inc. and its wholly-owned subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||
(b) Cash and Cash Equivalents | |||||||||||
The Company considers all highly liquid debt instruments with a maturity of less than three months at purchase to be cash equivalents. The Company did not have any cash equivalents at December 31, 2013 and 2012. Cash balances at financial institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”). At times, cash and cash equivalents may be uninsured or in deposit accounts that exceed the FDIC insurance limit. Periodically, the Company evaluates the creditworthiness of the financial institutions and evaluates its credit exposure. | |||||||||||
(c) Accounts Receivable and Allowance for Doubtful accounts | |||||||||||
Accounts receivable are customer obligations due under normal trade terms. The Company sells its products primarily to distributors and private cable operators. The Company performs continuing credit evaluations of its customers’ financial condition and although the Company generally does not require collateral, letters of credit may be required from its customers in certain circumstances. | |||||||||||
Senior management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. The Company includes any accounts receivable balances that are determined to be uncollectible, along with a general reserve based on historical experience, in its overall allowance for doubtful accounts. | |||||||||||
(d) Inventories | |||||||||||
Inventories are stated at the lower of cost, determined by the first-in, first-out (“FIFO”) method, or market. | |||||||||||
The Company periodically analyzes anticipated product sales based on historical results, current backlog and marketing plans. Based on these analyses, the Company anticipates that certain products will not be sold during the next twelve months. Inventories that are not anticipated to be sold in the next twelve months, have been classified as non-current. | |||||||||||
The Company continually analyzes its slow-moving, excess and obsolete inventories. Based on historical and projected sales volumes and anticipated selling prices, the Company establishes reserves. Inventory that is in excess of current and projected use is reduced by an allowance to a level that approximates its estimate of future demand. Products that are determined to be obsolete are written down to net realizable value. | |||||||||||
(e) Property, Plant and Equipment | |||||||||||
Property, plant and equipment are stated at cost. The Company provides for depreciation generally on the straight-line method based upon estimated useful lives of 3 to 5 years for office equipment, 5 to 7 years for furniture and fixtures, 6 to 10 years for machinery and equipment, 10 to 15 years for building improvements and 40 years for the manufacturing and administrative office facility. | |||||||||||
(f) Goodwill and Other Intangible Assets | |||||||||||
The Company accounts for goodwill and intangible assets in accordance with ASC 350 Intangibles - Goodwill and Other Intangible Assets (“ASC 350”). ASC 350 requires that goodwill and other intangibles with indefinite lives should be tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of an asset has decreased below its carrying value. | |||||||||||
Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations. GAAP requires that goodwill be tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis and between annual tests when circumstances indicate that the recoverability of the carrying amount of goodwill may be in doubt. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value. Significant judgment is required to estimate the fair value of reporting units including estimating future cash flows, determining appropriate discount rates and other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment. | |||||||||||
The Company’s business includes one goodwill reporting unit. The Company annually reviews goodwill for possible impairment by comparing the fair value of the reporting unit to the carrying value of the assets. If the fair value exceeds the carrying value of the net asset, no goodwill impairment is deemed to exist. If the fair value does not exceed the carrying value, goodwill is tested for impairment and written down to its implied fair value if it is determined to be impaired. The Company performed its annual goodwill impairment test on December 31, 2013 using both the income approach and market approach with assumptions that our management believes are appropriate in the circumstances. Based upon the results, the Company determined that goodwill was not impaired as of December 31, 2013 . | |||||||||||
The Company considers its trade name to have an indefinite life and in accordance with ASC 350, will not be amortized and will be reviewed annually for impairment. | |||||||||||
Intangible assets are recorded at cost except for assets acquired in a business combination, which are initially recorded at their estimated fair value. Intangible assets with finite lives include customer relationships and non-compete agreements are amortized on a straight-line basis over the estimated useful lives ranging from 5 to 10 years. | |||||||||||
The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2013 are as follows: | |||||||||||
Description | Cost | Accumulated | Net Amount | ||||||||
Amortization | |||||||||||
Customer relationships | $ | 1,365 | $ | 262 | $ | 1,103 | |||||
Proprietary technology | 349 | 67 | 282 | ||||||||
Non compete agreements | 248 | 158 | 90 | ||||||||
Amortized intangible assets | 1,962 | 487 | 1,475 | ||||||||
Non-Amortized Trade name | 741 | - | 741 | ||||||||
Total | $ | 2,703 | $ | 487 | $ | 2,216 | |||||
Amortization is computed utilizing the straight-line method over the estimated useful lives of 10 years for customer relationships, 10 years for proprietary technology, and 3 years for non compete agreements. Trade name is not amortized as it has an indefinite life. Amortization expense for intangible assets was $254 and $233 for the years ended December 31, 2013 and 2012, respectively. Intangible asset amortization is projected to be approximately $254, $178, $171, $171 and $171 in each of the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. | |||||||||||
(g) Long-Lived Assets | |||||||||||
The Company continually monitors events and changes in circumstances that could indicate carrying amounts of the long-lived assets, including intangible assets may not be recoverable. When such events or changes in circumstances occur, the Company assesses recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, an impairment loss is recognized based on the excess of the carrying amount over the fair value of the assets. The Company did not recognize any intangible asset impairment charges in 2013. | |||||||||||
(h) Derivative Financial Instruments | |||||||||||
The Company utilizes interest rate swaps at times to manage interest rate exposures. The Company specifically designates interest rate swaps as hedges of debt instruments and recognizes interest differentials as adjustments to interest expense in the period they occur. The Company did not hold an interest rate swap during the years ended December 31, 2013 or 2012. The Company does not hold or issue financial instruments for trading purposes. | |||||||||||
(i) Treasury Stock | |||||||||||
Treasury Stock is recorded at cost. Gains and losses on disposition are recorded as increases or decreases to additional paid-in capital with losses in excess of previously recorded gains charged directly to retained earnings. | |||||||||||
(j) Significant Risks and Uncertainties | |||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s significant estimates include stock compensation and reserves related to accounts receivable, inventory and deferred tax assets. Actual results could differ from those estimates. | |||||||||||
At December 31, 2013, approximately 28% of the Company’s employees were covered by a collective bargaining agreement, that was scheduled to expire in February 2014, but was extended on the same terms and conditions for an additional one year, until February 2015. | |||||||||||
The Company’s analog video headend products accounted for approximately 21% and 22% of the Company’s revenues in the years ended December 31, 2013 and 2012, respectively. The Company’s digital video headend products accounted for approximately 46% and 47% of the Company’s revenues in the years ended December 31, 2013 and 2012, respectively. Any substantial decrease in sales of analog video headend products without a related increase in digital video headend products could have a material adverse effect on the Company’s results of operations, financial condition and cash flows. | |||||||||||
(k) Royalty and License Expense | |||||||||||
The Company records royalty expense, as applicable, when the related products are sold. Royalty expense is recorded as a component of selling expenses. Royalty expense was $82 and $125 for the years ended December 31, 2013 and 2012, respectively. The Company amortizes license fees over the life of the relevant contract. | |||||||||||
The components of intangible assets consisting of license agreements that are carried at cost less accumulated amortization are as follows: | |||||||||||
December 31, | |||||||||||
2013 | 2012 | ||||||||||
License agreements | $ | 4,897 | $ | 4,050 | |||||||
Accumulated amortization | -4,105 | -3,498 | |||||||||
$ | 792 | $ | 552 | ||||||||
Amortization of license fees is computed utilizing the straight-line method over the estimated useful life of 2 years. Amortization expense for license fees was $607 and $700 in the years ended December 31, 2013 and 2012, respectively. Amortization expense for license fees is projected to be approximately $550 and $292 in the years ended December 31, 2014 and 2015, respectively. | |||||||||||
(l) Foreign Exchange | |||||||||||
The Company uses the United States dollar as its functional and reporting currency since the majority of the Company’s revenues, expenses, assets and liabilities are in the United States and the focus of the Company’s operations is in that country. Assets and liabilities in foreign currencies are translated using the exchange rate at the balance sheet date. Revenues and expenses are translated at average rates of exchange during the year. Gains and losses from foreign currency transactions and translation for the years ended December 31, 2013 and 2012 and cumulative translation gains and losses as of December 31, 2013 and 2012 were not material. | |||||||||||
(m) Research and Development | |||||||||||
Research and development expenditures for the Company’s projects are expensed as incurred. | |||||||||||
(n) Revenue Recognition | |||||||||||
The Company records revenues when products are shipped and the amount of revenue is determinable and collection is reasonably assured. Customers do not have a right of return. The Company provides a three year warranty on most products. Warranty expense was de minimis in the two year period ended December 31, 2013. | |||||||||||
(o) Share Based Payments | |||||||||||
The Company accounts for share based payments in accordance with ASC Topic 718 “Compensation – Stock Payments” (“ASC Topic 718”). The statement requires companies to expense the value of employee stock options and similar awards. Under ASC Topic 718, share-based payment awards result in a cost that will be measured at fair value on the awards’ grant date based on the estimated number of awards that are expected to vest. Compensation cost for awards that vest will not be reversed if the awards expire without being exercised. Stock compensation expense under ASC Topic 718 was $272 and $258 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||
The Company estimates the fair value of each stock option grant by using the Black-Scholes option-pricing model with the following weighted average assumptions used for grants: expected lives of 6.5 and 6.5 years; no dividend yield; volatility at 75% and 77%, and risk free interest rate of 1.32% and 1.18% for 2013 and 2012, respectively. | |||||||||||
(p) Income Taxes | |||||||||||
The Company accounts for income taxes under the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740 “Income Taxes” (“ASC Topic 740”). Deferred income taxes are provided for temporary differences in the recognition of certain income and expenses for financial and tax reporting purposes. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||
The Company will classify as income tax expense any interest and penalties recognized in accordance with ASC Topic 740. The Company files income tax returns primarily in New Jersey, along with certain other jurisdictions. | |||||||||||
(q) Earnings (loss) Per Share | |||||||||||
Earnings (loss) per share are calculated in accordance with ASC Topic 260 “Earnings Per Share,” which provides for the calculation of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share includes no dilution and is computed by dividing net earnings by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflect, in periods in which they have a dilutive effect, the effect of common shares issuable upon exercise of stock options. The diluted share base excludes incremental shares of 1,118 and 1,032 related to stock options for December 31, 2013 and 2012, respectively. These shares were excluded due to their antidilutive effect. | |||||||||||
(r) Other Comprehensive(Loss) Income | |||||||||||
Comprehensive (loss) income is a measure of income which includes both net (loss) income and other comprehensive (loss) income. Other comprehensive (loss) income results from items deferred from recognition into the statement of operations and principally consists of unrecognized pension losses net of taxes. Accumulated other comprehensive (loss) income is separately presented on the Company's consolidated balance sheet as part of stockholders’ equity. | |||||||||||
(s) Subsequent Events | |||||||||||
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any additional recognized or non-recognized subsequent events that would require adjustment to or disclosure in the consolidated financial statements. | |||||||||||
(t) Recent Accounting Pronouncements | |||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 amends Accounting Standards Codification (“ASC”) 740, Income Taxes, by providing guidance on the financial statement presentation of an unrecognized benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU does not affect the recognition or measurement of uncertain tax positions under ASC 740. ASU 2013-11 will be effective for the Company for interim and annual periods beginning after December 15, 2013, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. | |||||||||||
In February 2013, the FASB issued ASU 2013-02 (“ASU 2013-02”), “Reporting of Amounts Reclassified Out of Other Comprehensive Income”. ASU 2013-02 finalized the reporting for reclassifications out of accumulated other comprehensive income, which was previously deferred, as discussed below. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, they do require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is also required to present on the face of the financials where net income is reported or in the footnotes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. Other amounts need only be cross-referenced to other disclosures required that provide additional detail of these amounts. The amendments in this update are effective for reporting periods beginning after December 15, 2012, and early adoption is permitted. The adoption of this standard did not have a material impact on the Company’s financial position and results of operations. | |||||||||||
The FASB, the Emerging Issues Task Force and the SEC have issued certain other accounting standards updates and regulations as of December 31, 2013 that will become effective in subsequent periods; however, management of the Company does not believe that any of those updates would have significantly affected the Company’s financial accounting measures or disclosures had they been in effect during 2013 or 2012, and it does not believe that any of those pronouncements will have a significant impact on the Company’s consolidated financial statements at the time they become effective. | |||||||||||
Acquisition
Acquisition | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Business Combination Disclosure [Text Block] | ' | ||||
Note 2 - Acquisition | |||||
On February 1, 2012, the Company’s wholly-owned subsidiary, R. L. Drake Holdings, LLC (“RLD”), a Delaware limited liability company, acquired substantially all of the assets and assumed certain specified liabilities of R. L. Drake, LLC, a Delaware limited liability company (“Seller”) (the “RLD Acquisition”), pursuant to an Asset Purchase Agreement of even date, by and among RLD, Seller, R. L. Drake Acquisition Corporation, a Delaware corporation, and WBMK Holding Company, an Ohio corporation, as amended by a certain First Amendment to Asset Purchase Agreement dated February 3, 2012 (as so amended, the “Asset Purchase Agreement”). The purchase price was approximately $7,020, which included a working capital adjustment of approximately $545, plus contingent purchase price payments of up to $1,500 in the aggregate that may be made over the three-year period after closing if certain financial results are realized. The assets acquired from Seller include assets used in the manufacturing and delivery of electronic communications solutions for cable television systems, digital television reception, video signal distribution and digital video encoding, including equipment, supplies and other tangible personal property, inventory, accounts receivable, business records, trademarks and other intellectual property rights. | |||||
The net assets acquired were: | |||||
Accounts receivable | $ | 542 | |||
Inventories | 3,148 | ||||
Prepaid expenses | 30 | ||||
Property and equipment | 670 | ||||
Intangible assets | 2,703 | ||||
Goodwill | 493 | ||||
Accounts payable | -529 | ||||
Other accrued expenses | -37 | ||||
$ | 7,020 | ||||
The Company accounted for the business combination using the acquisition method of accounting. The Company’s results of operations for the year ended December 31, 2012, include the revenue and expenses of the acquired business since the date of acquisition. The operations of the acquired business have been fully integrated with those of the Company and are not separately reportable. The unaudited pro forma financial results for the year ended December 31, 2012 combines the historical results of the Seller with those of the Company as if this acquisition had been completed as of the beginning of the period presented. There were no material non-recurring pro forma adjustments directly attributable to this acquisition. | |||||
Pro Forma Combined Statements of Operations | |||||
Year Ended | |||||
December 31, | |||||
2012 | |||||
Net sales | $ | 31,296 | |||
Earnings (loss) from operations | -2,263 | ||||
Net earnings (loss) | $ | -4,960 | |||
Basic and diluted net earnings (loss) per share | $ | -0.8 | |||
Basic weighted average shares outstanding | 6,216 | ||||
Diluted weighted average shares outstanding | 6,216 | ||||
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventory Disclosure [Text Block] | ' | |||||||
Note 3 – Inventories | ||||||||
Inventories, net of reserves, are summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Raw materials | $ | 5,351 | $ | 6,493 | ||||
Work in process | 2,815 | 2,950 | ||||||
Finished goods | 5,394 | 6,659 | ||||||
13,560 | 16,102 | |||||||
Less current inventory | -8,975 | -11,319 | ||||||
4,585 | 4,783 | |||||||
Less reserve for slow moving and obsolete inventory | -2,470 | -2,185 | ||||||
$ | 2,115 | $ | 2,598 | |||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Note 4 - Property, Plant and Equipment | ||||||||
Property, plant and equipment are summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land | $ | 1,000 | $ | 1,000 | ||||
Building | 3,361 | 3,361 | ||||||
Machinery and equipment | 10,078 | 9,980 | ||||||
Furniture and fixtures | 412 | 412 | ||||||
Office equipment | 2,232 | 2,179 | ||||||
Building improvements | 1,039 | 1,036 | ||||||
18,122 | 17,968 | |||||||
Less: Accumulated depreciation and amortization | -14,412 | -13,959 | ||||||
$ | 3,710 | $ | 4,009 | |||||
Depreciation expense amounted to approximately $453 and $505 during the years ended December 31, 2013 and 2012, respectively. | ||||||||
Debt
Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt Disclosure [Text Block] | ' | |||||||
Note 5 – Debt | ||||||||
On August 6, 2008, the Company entered into a Revolving Credit, Term Loan and Security Agreement with Santander Bank, N.A. (formerly known as Sovereign Bank, N.A.) through its Sovereign Business Capital division (“Santander”), pursuant to which the Company obtained an $8,000 credit facility from Santander (the “Santander Financing”). The Company and Santander entered into a series of amendments to the foregoing Revolving Credit, Term Loan and Security Agreement (as so amended, the “Santander Agreement”), including the Sixth Amendment referenced below, which, among other things, adjusted the Santander Financing to $9,350 consisting of (i) a $5,000 asset-based revolving credit facility (“Revolver”) and (ii) a $4,350 term loan facility (“Term Loan”), each expiring on February 1, 2015. The amounts which may be borrowed under the Revolver are based on certain percentages of Eligible Receivables and Eligible Inventory, as such terms are defined in the Santander Agreement. The obligations of the Company under the Santander Agreement are secured by substantially all of the assets of the Company and certain of its subsidiaries. | ||||||||
Under the Santander Agreement, the Revolver currently bears interest at a rate per annum equal to the prime lending rate announced from time to time by Santander (“Prime”) plus 1.25% or the LIBOR rate plus 4.00%. The Term Loan currently bears interest at a rate per annum equal to Prime plus 1.50% or the LIBOR rate plus 4.25%. Prime was 3.25% at December 31, 2013. LIBOR rate loans under the Santander Agreement may be borrowed for interest periods of one, three or six months. The LIBOR rates for interest periods of one-month, three-months and six-months were 0.17%, 0.25% and 0.35%, respectively, at December 31, 2013. The interest rates above are effective on April 1, 2014, pursuant to the terms of the Sixth Amendment described below. | ||||||||
On March 28, 2014, the Company entered into a Sixth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “Sixth Amendment”) to amend the Santander Financing. The Sixth Amendment (i) reduced the maximum amount available for borrowing under the Revolver from $6,000 to $5,000, (ii) increased the interest rates applicable to the Revolver and the Term Loan by three quarters of one percent, (iii) modified the Company’s fixed charge coverage ratio covenant to eliminate the testing thereof with respect to the trailing 12-month period ended as of December 31, 2013, (iv) eliminated the fixed charge coverage ratio covenant with respect to all periods after December 31, 2013,(v) modified the minimum EBITDA covenant to (a) eliminate the testing thereof with respect to the fiscal year ended December 31, 2013, b) change the manner of calculation thereof, and (c) imposed a quarterly building minimum EBITDA covenant test, commencing with the fiscal quarter ended on March 31, 2014, and thereafter for the two fiscal quarters ending June 30, 2014, the three fiscal quarters ending September 30, 2014, the four fiscal quarters ending December 31, 2014 and thereafter quarterly on a trailing four fiscal quarter basis, (vi) reduced the advance rate applicable to Eligible Inventory (as defined in the Santander Agreement) from 50% to 35% with a further reduction in such advance rate to 25% effective on or about June 27, 2014 and (vii) reduced the sublimit on advances against such Eligible Inventory from $3,000 to $2,000. In connection with the Sixth Amendment, the Company paid Santander an amendment fee of $45. | ||||||||
On November 13, 2013, the Company entered into a Fifth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “Fifth Amendment”) to amend the Santander Financing. The Fifth Amendment (i) reduced the maximum amount available for borrowing under the Revolver from $8,500 to $6,000 and (ii) modified the Company’s fixed charge coverage ratio covenant to eliminate the testing thereof with respect to the trailing 12-month period ended as of September 30, 2013. | ||||||||
On March 27, 2013, the Company entered into a Fourth Amendment to Revolving Credit, Term Loan and Security Agreement with Santander (the “Fourth Amendment”), to amend the Santander Financing. The Fourth Amendment (i) increased the interest rates applicable to the Revolver and the Term Loan by one half of one percent, effective as of April 1, 2013, subject to being reduced by one quarter of one percent effective as of the date on which the Company delivered to Santander its financial statements for the fiscal quarter ending June 30, 2013, evidencing compliance with the Santander Agreement and continuing compliance with the Santander Agreement through such date of delivery, and further reduced by an additional one quarter of one percent, effective as of the date on which the Company delivers to Santander its audited financial statements for the fiscal year ending December 31, 2013, evidencing compliance with the Santander Agreement and continuing compliance with the Santander Agreement through such date of delivery; (ii) retroactively effective as of December 31, 2012, eliminated the minimum net income covenant and replaced the same with a minimum EBITDA covenant tested as of and for the fiscal year ended December 31, 2012 and as of and for each subsequent fiscal year ending on December 31 thereafter, (iii) modified the definition of Net Income (as defined in the Santander Agreement), retroactively effective as of December 31, 2012; and (iv) modified the fixed charge coverage ratio, effective for each of the trailing four fiscal quarters ending in 2013. The Company was in compliance with the Santander Agreement as of June 30, 2013 and, accordingly, the interest rates applicable to both the Revolver and the Term Loan were decreased by one quarter of one percent, effective as of August 14, 2013. | ||||||||
Upon termination of the Revolver, all outstanding borrowings under the Revolver are due. The outstanding principal balance of the Revolver was $1,275 at December 31, 2013. The Term Loan requires equal monthly principal payments of approximately $18 each, plus interest, with the remaining balance due at maturity. The outstanding principal balance of the Term Loan was $3,983 at December 31, 2013. | ||||||||
The Santander Agreement contains customary representations and warranties as well as affirmative and negative covenants, including certain financial covenants. The Santander Agreement contains customary events of default, including, among others, non-payment of principal, interest or other amounts when due. | ||||||||
The fair value of the debt approximates the recorded value based on the borrowing rates currently available to the Company for loans with similar terms and maturities, as evidenced by the Fifth Amendment. | ||||||||
Long-term debt consists of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Term loan | $ | 3,983 | $ | 4,183 | ||||
Capital leases (Note 6) | 180 | 257 | ||||||
4,163 | 4,440 | |||||||
Less: Current portion | -270 | -277 | ||||||
$ | 3,893 | $ | 4,163 | |||||
Annual maturities of long term debt at December 31, 2013 are $270 in 2014, $3,851 in 2015, $35 in 2016 and $7 in 2017. | ||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies Disclosure [Text Block] | ' | |||||||
Note 6 – Commitments and Contingencies | ||||||||
Leases | ||||||||
The Company leases certain real estate, factory, office and automotive equipment under non-cancellable operating leases and equipment under capital leases expiring at various dates through September, 2017. | ||||||||
Future minimum rental payments, required for all non-cancellable leases are as follows: | ||||||||
Capital | Operating | |||||||
2014 | $ | 78 | $ | 138 | ||||
2015 | 72 | 90 | ||||||
2016 | 36 | 10 | ||||||
2017 | 7 | 3 | ||||||
2018 | - | - | ||||||
Thereafter | - | - | ||||||
Total future minimum lease payments | 193 | $ | 241 | |||||
Less: amounts representing interest | -13 | |||||||
Present value of minimum lease payments | $ | 180 | ||||||
Property, plant and equipment included capitalized leases of $370 at December 31, 2013 and 2012, less accumulated amortization of $225 and $144 at December 31, 2013 and 2012, respectively. | ||||||||
Rent expense was $175 and $191 for the years ended December 31, 2013 and 2012, respectively. | ||||||||
Litigation | ||||||||
The Company is a party to certain proceedings incidental to the ordinary course of its business, none of which, in the current opinion of management, is likely to have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. | ||||||||
In addition, on June 19, 2012, K Tech Telecommunications, Inc. (“K Tech”) filed a patent infringement complaint against the Company and RLD in the U.S. District Court for the Central District of California (the “District Court”), captioned as K Tech v. Blonder Tongue Laboratories, Inc. and R.L. Drake Holdings, LLC, CV12-05316 (the “Litigation”). K Tech subsequently filed an amended complaint to add Seller as an additional defendant. The Litigation alleged that the Company and RLD infringe one or more claims of U.S. Patent Nos. 6,785,903, 7,487,533, 7,761,893, and 7,984,469 (the “K Tech Patents”) and sought (a) a finding of patent infringement; (b) an injunction against the Company and RLD from further alleged infringement; (c) an award of actual damage suffered by K Tech; and (d) an award of costs relating to the Litigation. The Litigation complaint alleged that Company products DQMx-01, DQMx-02, DQMx-03, DQMx-04, DQMx-10, DQMx-11, DQMx-12, DQMx-13, DQMx-20, DQMx-21, DQMx-22, DQMx-30, DQMx-31, DQMx-40, and MUX-2D-QAM infringe one or more of the K Tech Patents, and alleges that RLD products MQM6000l, MQM10000, DQT1000, and MEQ1000 infringe one or more of the K Tech Patents. All of the aforementioned products are part of the Company’s digital headend product category. On August 29, 2013, the District Court ruled in the Company’s and RLD’s favor on their motion for summary judgment. In particular, the District Court held that three of K Tech’s patents relating to systems and methods for updating the channel information contained in digital television signals, U.S. Patent Nos. 6,785,903, 7,481,533 and 7,761,893 (the “Specified Patents”), were invalid because they were rendered obvious by prior art. The District Court agreed with the Company’s and RLD’s argument that all of the patent claims K Tech had asserted under the Specified Patents were invalid by reason of the prior art of, among others, Zenith Electronics Corporation and DiviCom, Inc. (both of which companies had offered for sale products capable of modifying PSIP data prior to the date of K Tech’s earliest patent priority date of April 5, 2000). | ||||||||
The Company and RLD are seeking payment from K Tech of their attorney fees and expenses incurred in defending the action. K Tech has appealed the District Court’s ruling to the U.S. Court of Appeals for the Federal Circuit. | ||||||||
Benefit_Plans
Benefit Plans | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||
Compensation and Employee Benefit Plans [Text Block] | ' | |||||||||
Note 7 – Benefit Plans | ||||||||||
Defined Contribution Plan | ||||||||||
The Company has a defined contribution plan covering all full time employees qualified under Section 401(k) of the Internal Revenue Code, in which the Company matches a portion of an employee’s salary deferral. The Company’s contributions to this plan were $217 and $205, for the years ended December 31, 2013 and 2012, respectively. | ||||||||||
Defined Benefit Pension Plan | ||||||||||
Substantially all union employees who met certain requirements of age, length of service and hours worked per year were covered by a Company sponsored non-contributory defined benefit pension plan. Benefits paid to retirees are based upon age at retirement and years of credited service. On August 1, 2006, the plan was frozen. | ||||||||||
The following table sets forth the change in projected benefit obligation, change in plan assets and funded status of the defined benefit pension plan: | ||||||||||
2013 | 2012 | |||||||||
Change in Benefit Obligation | ||||||||||
Benefit obligation at beginning of year | $ | 3,307 | $ | 3,294 | ||||||
Service cost | 0 | 0 | ||||||||
Interest cost | 129 | 141 | ||||||||
Plan participants’ contributions | 0 | 0 | ||||||||
Amendments | 0 | 0 | ||||||||
Actuarial loss (gain) | -321 | 217 | ||||||||
Business combinations | 0 | 0 | ||||||||
Divestitures | 0 | 0 | ||||||||
Curtailments | 0 | 0 | ||||||||
Settlements | 0 | -326 | ||||||||
Special termination benefits | 0 | 0 | ||||||||
Benefits paid | -108 | -19 | ||||||||
Currency translation adjustment | 0 | 0 | ||||||||
Benefit obligation at end of year | $ | 3,007 | $ | 3,307 | ||||||
Change in Plan Assets | ||||||||||
Fair value of plan assets at beginning of year | $ | 2,690 | $ | 2,513 | ||||||
Actual return on plan assets | 640 | 323 | ||||||||
Employer contribution | 200 | 200 | ||||||||
Business combinations | 0 | 0 | ||||||||
Divestitures | 0 | 0 | ||||||||
Settlements | 0 | -326 | ||||||||
Plan participants’ contributions | 0 | 0 | ||||||||
Benefits paid | -108 | -19 | ||||||||
Administrative Expenses Paid | 0 | -1 | ||||||||
Currency Translation Adjustment | 0 | 0 | ||||||||
Fair value of plan assets at end of year | $ | 3,422 | $ | 2,690 | ||||||
Funded status | $ | 415 | $ | -617 | ||||||
Amounts Recognized in the Statement of Financial Position consists of: | ||||||||||
Noncurrent assets | $ | 415 | $ | 0 | ||||||
Current liabilities | $ | 0 | $ | 0 | ||||||
Noncurrent liabilities | $ | 0 | $ | -617 | ||||||
Net amount recognized | $ | 415 | $ | -617 | ||||||
2013 | 2012 | |||||||||
Change in Accumulated Other Comprehensive Income (Loss) | - | - | ||||||||
Amounts Recognized in Accumulated Other Comprehensive Income (Loss) consist of: | ||||||||||
Net actuarial loss (gain) | $ | 668 | $ | 1,621 | ||||||
Prior service cost (credit) | - | - | ||||||||
Unrecognized net initial obligation (asset) | - | - | ||||||||
Total (before tax effects) | $ | 668 | $ | 1,621 | ||||||
Accumulated benefit Obligation End of Year | $ | 3,007 | $ | 3,307 | ||||||
2013 | 2012 | |||||||||
Information for Pension Plans with an Accumulated Benefit Obligation in excess of Plan Assets: | ||||||||||
Projected benefit of obligation | N/A | $ | 3,307 | |||||||
Accumulated benefit obligation | N/A | $ | 3,307 | |||||||
Fair value of plan assets | N/A | $ | 2,690 | |||||||
Weighted-Average Assumptions Used to Determine Benefit Obligation in Excess of Plan Assets: | ||||||||||
Discount Rate | 4.9 | % | 4 | % | ||||||
Salary Scale | N/A | N/A | ||||||||
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) | ||||||||||
Net periodic cost | ||||||||||
Service cost | $ | 0 | $ | 0 | ||||||
Interest cost | 129 | 141 | ||||||||
Expected return on plan assets | -191 | -175 | ||||||||
Recognized prior service cost (credit) | 0 | 0 | ||||||||
Recognized actuarial (gain) loss | 183 | 230 | ||||||||
Recognized net initial obligation (asset) | 0 | 0 | ||||||||
Recognized actuarial (gain) loss due to curtailments | 0 | 0 | ||||||||
Recognized actuarial (gain) loss due to settlements | 0 | 160 | ||||||||
Recognized actuarial (gain) loss due to special termination benefits | 0 | 0 | ||||||||
Net periodic benefit cost | $ | 121 | $ | 356 | ||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | ||||||||||
Net actuarial loss (gain) | $ | -770 | $ | 69 | ||||||
Recognized actuarial loss (gain) | -183 | -390 | ||||||||
Prior service cost (credit) | 0 | 0 | ||||||||
Recognized prior service cost (credit) | 0 | 0 | ||||||||
Total net obligation | 0 | 0 | ||||||||
Total recognized in other comprehensive income (before tax effects) | $ | -953 | $ | -321 | ||||||
Total recognized in net periodic benefit cost and other comprehensive income (loss) (before tax effects) | $ | -832 | $ | 36 | ||||||
2013 | 2012 | |||||||||
Amounts Expected to be Recognized in Net Periodic Cost in the Coming Year | ||||||||||
(Gain)/loss recognition | $ | 47 | $ | 181 | ||||||
Prior service cost recognition | $ | 0 | $ | 0 | ||||||
Net initial obligations/(asset) recognition | $ | 0 | $ | 0 | ||||||
Weighted-Average Assumptions Used to Determine Net Periodic Cost for Fiscal Periods Ending as of December 31 | ||||||||||
Discount rate | 4 | % | 4.5 | % | ||||||
Expected asset return | 7 | % | 7 | % | ||||||
Salary Scale | N/A | N/A | ||||||||
Plan Assets | ||||||||||
Expected Long- | ||||||||||
Asset Category | Term Return | Target Allocation | 2013 | 2012 | ||||||
Equity securities | 8.5 | % | 55 | % | 82 | % | 77 | % | ||
Debt securities | 5.5 | % | 45 | % | 18 | % | 23 | % | ||
Total | 7 | % | 100 | % | 100 | % | 100 | % | ||
Estimated Future Benefit Payments | ||||||||||
Expected company contributions in the following fiscal year | $ | - | ||||||||
Expected Benefit Payments: | ||||||||||
In the first year following the disclosure date | $ | 69 | ||||||||
In the second year following the disclosure date | $ | 105 | ||||||||
In the third year following the disclosure date | $ | 117 | ||||||||
In the fourth year following the disclosure date | $ | 81 | ||||||||
In the fifth year following the disclosure date | $ | 136 | ||||||||
In the sixth year following the disclosure date | $ | 737 | ||||||||
ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”), establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy consists of three broad levels: Level 1 inputs consist of unadjusted quoted prices in active markets for identical assets and have the highest priority, Level 2 inputs consist of observable inputs other than quoted prices for similar assets, and Level 3 inputs have the lowest priority. The plan uses appropriate valuation techniques based on the available inputs to measure the fair value of its investments. When available, the plan measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. Level 3 inputs were used only when Level 1 or Level 2 inputs were not available. The three levels of the fair value hierarchy under ASC 820 are described below: | ||||||||||
Level 1 | ||||||||||
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the plan has the ability to access. | ||||||||||
Level 2 | ||||||||||
Inputs to the valuation methodology include: | ||||||||||
• | Quoted prices for similar assets or liabilities in active markets | |||||||||
• | Quoted prices for identical or similar assets or liabilities in inactive markets | |||||||||
• | Inputs other than quoted prices that are observable for the asset or liability | |||||||||
• | Inputs that are derived principally from or corroborated by observable market data by correlation or other means | |||||||||
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. | ||||||||||
Level 3 | ||||||||||
Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||||||
The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. | ||||||||||
Following is a description of the valuation methodologies used for assets measured at fair value: | ||||||||||
Pooled separate accounts: Units of pooled separate accounts that are invested mainly in short term securities, such as commercial paper; fixed securities, such as asset backed securities, residential mortgage backed securities, commercial mortgage backed securities and government bonds; and international stocks, which have observable level 1 or 2 inputs, including quoted prices for similar assets, are valued per unit using a pricing service, Interactive Data Corporation. Units of pooled separate accounts that are invested directly in mutual funds or domestic stocks which have observable level 1 inputs are used in determining the net asset value (NAV) of the pooled separate account, which is not publicly quoted. | ||||||||||
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | ||||||||||
The plan invests 100% in pooled separate accounts which are valued utilizing level 2 inputs. | ||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Note 8 - Related Party Transactions | |
As of December 31, 2013 and 2012, the Chief Executive Officer was indebted to the Company in the amount of $117 and $123, respectively, for which no interest has been charged. This indebtedness arose from a series of cash advances, the latest of which was advanced in February 2002 and is included in other assets at December 31, 2013 and 2012. Payments on this indebtedness ceased in November 2008 when the Chief Executive Officer filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code and the indebtedness became subject to the automatic stay provisions of the United States Bankruptcy Code. On July 29, 2009 a plan of reorganization in connection with the Chief Executive Officer’s bankruptcy case was confirmed by the United States Bankruptcy Court for the District of New Jersey. | |
Under the confirmed plan of reorganization, the Chief Executive Officer will be obligated to pay a pro-rata share, with all other unsecured pre-petition obligations, of the excess, if any, of his disposable income after the payment of all administrative claims and other expenses. The actual amount that the Company may expect to receive pursuant to the confirmed plan and the date on which required payments would commence are not presently determinable. Since May 2010, however, the Chief Executive Officer has made elective payments to the Company to reduce the indebtedness. Such elective payments aggregated $24. | |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
Note 9 - Concentration of Credit Risk | |
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash deposits and trade accounts receivable. | |
The Company maintains cash balances at several banks located in the northeastern United States of which, at times, may exceed insurance limits and expose the Company to credit risk. As part of its cash management process, the Company periodically reviews the relative credit standing of these banks. | |
Credit risk with respect to trade accounts receivable was concentrated with three of the Company’s customers in each of 2013 and 2012. These customers accounted for approximately 55% of the Company’s outstanding trade accounts receivable at both December 31, 2013 and 2012, respectively. The Company performs ongoing credit evaluations of its customers’ financial condition, uses credit insurance and requires collateral, such as letters of credit, to mitigate its credit risk. The deterioration of the financial condition of one or more of its major customers could adversely impact the Company’s operations. From time to time where the Company determines that circumstances warrant, such as when a customer agrees to commit to a large blanket purchase order, the Company extends payment terms beyond its standard payment terms. | |
The Company’s largest customer accounted for approximately 22% and 18% of the Company’s sales in each of the years ended December 31, 2013 and 2012, respectively. This customer accounted for approximately 16% and 25% of the Company’s outstanding trade accounts receivable at December 31, 2013 and 2012, respectively. A second customer accounted for approximately 12% of the Company’s sales in the year ended December 31, 2013. This customer accounted for approximately 15% and 14% of the Company’s outstanding trade accounts receivable at December 31, 2013 and 2012, respectively. A third customer accounted for approximately 14% of the Company’s sales in the year ended December 31, 2012. This customer accounted for approximately 23% and 17% of the Company’s outstanding accounts receivable at December 31, 2013 and 2012, respectively. The Company had sales outside the United States of approximately 5% and 5% in each of years ended December 31, 2012 and 2011, respectively. | |
Stock_Repurchase_Program
Stock Repurchase Program | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 10 – Stock Repurchase Program | |
On July 24, 2002, the Company commenced a stock repurchase program to acquire up to $300 of its outstanding common stock (the “2002 Program”). The stock repurchase was funded by a combination of the Company’s cash on hand and borrowings against its revolving line of credit. On February 13, 2007, the Company announced a new stock repurchase program to acquire up to an additional 100 shares of its outstanding common stock (the “2007 Program”). As of December 31, 2013, the Company can purchase up to $72 of its common stock under the 2002 Program and up to 100 shares of its common stock under the 2007 Program. The Company may, in its discretion, continue making purchases under the 2002 Program up to its limits, and thereafter to make purchases under the 2007 Program. During 2013 and 2012, the Company did not purchase any of its Common Stock under the 2002 Program or 2007 Program. | |
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Preferred Stock [Text Block] | ' |
Note 11 – Preferred Stock | |
The Company is authorized to issue 5,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. At December 31, 2013 and 2012, there were no outstanding preferred shares. | |
Stock_Option_Plans
Stock Option Plans | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||||||||||||||||
Note 12 – Stock Option Plans | ||||||||||||||||||||||||||||||
In October, 1995, the Company’s Board of Directors and stockholders approved the 1995 Long Term Incentive Plan (the “1995 Plan”). The 1995 Plan provided for grants of “incentive stock options” or nonqualified stock options, and awards of restricted stock, to executives and key employees, including officers and employee Directors. The 1995 Plan is administered by the Compensation Committee of the Board of Directors, which determines the optionees and the terms of the options granted under the 1995 Plan, including the exercise price, number of shares subject to the option and the exercisability thereof, as well as the recipients and number of shares awarded for restricted stock awards; provided, however, that no employee may receive stock options or restricted stock awards which would result, separately or in combination, in the acquisition of more than 100 shares of Common Stock of the Company under the 1995 Plan. The exercise price of incentive stock options granted under the 1995 Plan must be equal to at least the fair market value of the Common Stock on the date of grant. With respect to any optionee who owns stock representing more than 10% of the voting power of all classes of the Company’s outstanding capital stock, the exercise price of any incentive stock option must be equal to at least 110% of the fair market value of the Common Stock on the date of grant, and the term of the option may not exceed five years. The term of all other incentive stock options granted under the 1995 Plan may not exceed ten years. The aggregate fair market value of Common Stock (determined as of the date of the option grant) for which an incentive stock option may for the first time become exercisable in any calendar year may not exceed $100. The exercise price for nonqualified stock options is established by the Compensation Committee, and may be more or less than the fair market value of the Common Stock on the date of grant. | ||||||||||||||||||||||||||||||
Stockholders have previously approved a total of 1,150 shares of common stock for issuance under the 1995 Plan, as amended to date. The 1995 Plan expired by its terms on November 30, 2005. | ||||||||||||||||||||||||||||||
In May, 1998, the stockholders of the Company approved the Amended and Restated 1996 Director Option Plan (the “Amended 1996 Plan”). Under the Amended 1996 Plan, Directors who were not then currently employed by the Company or any subsidiary of the Company and had not been so employed within the preceding six months were eligible to receive options from time to time to purchase the number of shares of Common Stock determined by the Board in its discretion; provided, however, that no Director was permitted to receive options to purchase more than 5 shares of Common Stock in any one calendar year. The exercise price for such shares was the fair market value thereof on the date of grant, and the options vested as determined in each case by the Board of Directors. Options granted under the Amended 1996 Plan must be exercised within 10 years from the date of grant. A maximum of 200 shares of Common Stock are subject to issuance under the Amended 1996 Plan, as amended. The plan is administered by the Board of Directors. The Amended 1996 Plan expired by its terms on January 2, 2006. | ||||||||||||||||||||||||||||||
In May 2005, the stockholders of the Company approved the 2005 Employee Equity Incentive Plan (the “Employee Plan”), which initially authorized the Compensation Committee of the Board of Directors (the “Committee”) to grant a maximum of 500 shares of equity based and other performance based awards to executive officers and other key employees of the Company. In May 2007, the stockholders of the Company approved an amendment to the Employee Plan to increase the maximum number of equity based and other performance awards to 1,100. In May 2010, the stockholders of the Company approved an amendment to the Employee Plan to increase the maximum number of equity based and other performance awards to 1,600. The Committee determines the recipients and the terms of the awards granted under the Employee Plan, including the type of awards, exercise price, number of shares subject to the award and the exercisability thereof. | ||||||||||||||||||||||||||||||
In May 2005, the stockholders of the Company approved the 2005 Director Equity Incentive Plan (the “Director Plan”). The Director Plan authorizes the Board of Directors (the “Board”) to grant a maximum of 200 shares of equity based and other performance based awards to non employee directors of the Company. In May 2010, the stockholders of the Company approved an amendment to the Director Plan to increase the maximum number of equity based and other performance awards to 400. The Board determines the recipients and the terms of the awards granted under the Director Plan, including the type of awards, exercise price, number of shares subject to the award and the exercisability thereof. | ||||||||||||||||||||||||||||||
The following tables summarize information about stock options outstanding for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||
1995 | Weighted- | 1996 | Weighted- | 2005 | Weighted- | 2005 | Weighted- | |||||||||||||||||||||||
Plan (#) | Average | Plan (#) | Average | Employee | Average | Director | Average | |||||||||||||||||||||||
Exercise | Exercise | Plan (#) | Exercise | Plan (#) | Exercise | |||||||||||||||||||||||||
Price ($) | Price | Price ($) | Price ($) | |||||||||||||||||||||||||||
($) | ||||||||||||||||||||||||||||||
Shares under option: | ||||||||||||||||||||||||||||||
Options outstanding at January 1, 2012 | 61 | 3.84 | 80 | 3.1 | 1,001 | 1.86 | 277 | 1.51 | ||||||||||||||||||||||
Granted | - | - | - | - | 288 | 1.05 | 52 | 1.05 | ||||||||||||||||||||||
Exercised | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Forfeited | - | - | -50 | 3.16 | -64 | 1.88 | -80 | 1.55 | ||||||||||||||||||||||
Options outstanding at December 31, 2012 | 61 | 3.84 | 30 | 3 | 1,225 | 1.67 | 249 | 1.4 | ||||||||||||||||||||||
Granted | - | - | - | - | 300 | 1 | 50 | 1 | ||||||||||||||||||||||
Exercised | - | - | - | - | -1 | 0.76 | - | - | ||||||||||||||||||||||
Forfeited | - | - | -10 | 2.05 | -42 | 0.99 | - | - | ||||||||||||||||||||||
Options outstanding at December 31, 2013 | 61 | 3.84 | 20 | 3.48 | 1,482 | 1.56 | 299 | 1.34 | ||||||||||||||||||||||
Options exercisable at December 31, 2013 | 61 | 3.84 | 20 | 3.48 | 926 | 1.81 | 249 | 1.4 | ||||||||||||||||||||||
Weighted-average fair value of options granted during: | ||||||||||||||||||||||||||||||
2012 | - | - | $ | 0.72 | $ | 0.72 | ||||||||||||||||||||||||
2013 | - | - | $ | 0.67 | $ | 0.67 | ||||||||||||||||||||||||
Total options available for grant were 219 and 501 at December 31, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||||||||||
Range of Exercise | Number of | Weighted- | Weighted- | Number | Weighted- | |||||||||||||||||||||||||
Prices ($) | Options | Average | Average | Exercisable | Average | |||||||||||||||||||||||||
Outstanding | Remaining | Exercise Price | at 12/31/13 | Exercise Price | ||||||||||||||||||||||||||
at 12/31/13 | Contractual | ($) | ($) | |||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||
1995 Plan: 3.84 | 61 | 1.2 | 3.84 | 61 | 3.84 | |||||||||||||||||||||||||
1996 Plan: 2.05 to 3.85 | 20 | 0.9 | 3.48 | 20 | 3.48 | |||||||||||||||||||||||||
2005 Employee Plan: 0.76 to 3.84 | 1,482 | 5.8 | 1.56 | 926 | 1.81 | |||||||||||||||||||||||||
2005 Director Plan: 0.76 to 1.98 | 299 | 6.5 | 1.34 | 249 | 1.4 | |||||||||||||||||||||||||
The exercisable options under each of the Plans at December 31, 2013 had an intrinsic value of $0. | ||||||||||||||||||||||||||||||
In August 2012, the Company issued a warrant to purchase 100 shares of common stock of the Company to Adaptive Micro-Ware, Inc., an Indiana corporation (“AMW”). The warrant was granted as partial consideration in connection with a commercial licensing and manufacturing agreement between the Company and AMW. The warrant is exercisable at $1.09 per share, and the warrant vested one-third (1/3) on May 23, 2013 and vests another one-third (1/3) on each of May 23, 2014 and 2015. The fair value of the warrant was not deemed to be material. | ||||||||||||||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure [Text Block] | ' | |||||||
Note 13 - Income Taxes | ||||||||
The following summarizes the provision (benefit) for income taxes: | ||||||||
2013 | 2012 | |||||||
Current: | ||||||||
Federal | -9 | |||||||
State and local | $ | 87 | $ | 24 | ||||
$ | 78 | $ | 24 | |||||
Deferred: | ||||||||
Federal | -936 | -699 | ||||||
State and local | -368 | -342 | ||||||
-1,304 | -1,041 | |||||||
Valuation allowance | 1,226 | 3,349 | ||||||
Provision (benefit) for income taxes | $ | - | $ | 2,332 | ||||
The provision (benefit) for income taxes differs from the amounts computed by applying the applicable Federal statutory rates due to the following: | ||||||||
2013 | 2012 | |||||||
Provision (benefit) for Federal income taxes at the statutory rate | $ | -959 | $ | -961 | ||||
State and local income taxes, net of Federal benefit | -153 | -139 | ||||||
Permanent differences: | ||||||||
Stock compensation | 92 | 88 | ||||||
Other | 24 | 21 | ||||||
Net operating loss true up | - | -162 | ||||||
Change in valuation allowance | 1,226 | 3,349 | ||||||
Other | -230 | 136 | ||||||
Provision (benefit) for income taxes | $ | - | $ | 2,332 | ||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for doubtful accounts | $ | 79 | $ | 83 | ||||
Inventories | 1,478 | 1,176 | ||||||
Intangible | 97 | 137 | ||||||
Net operating loss carry forward | 7,645 | 6,683 | ||||||
Other | 85 | 85 | ||||||
Total deferred tax assets | 9,384 | 8,164 | ||||||
Deferred tax liabilities: | ||||||||
Depreciation | -58 | -64 | ||||||
Indefinite life intangibles | -63 | -30 | ||||||
Total deferred tax liabilities | -121 | -94 | ||||||
9,263 | 8,070 | |||||||
Valuation allowance | -9,326 | -8,100 | ||||||
Net | $ | -63 | $ | -30 | ||||
For the years ended December 31, 2013, the Company had approximately $19,671 and $15,495 of federal and state net operating loss carryovers ("NOL"), respectively, which begin to expire in 2023. | ||||||||
The change in the valuation allowance for the years ended December 31, 2013 and December 31, 2012 was $1,226 and $3,349, respectively. | ||||||||
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and taxing strategies in making this assessment. The deferred tax liability related to indefinite life intangible assets cannot be used in this determination. Therefore, the deferred tax liability related to indefinite life intangibles acquired in 2012 cannot be considered when determining the ultimate realization of deferred tax assets. The decision to record this valuation allowance was based on management evaluating all positive and negative evidence. The significant negative evidence includes a loss for the current year, a cumulative pre-tax loss for the three years ended December 31, 2013, the inability to carryback the net operating losses, limited future reversals of existing temporary differences and the limited availability of tax planning strategies. The Company expects to continue to provide a full valuation allowance until, or unless, it can sustain a level of profitability that demonstrates its ability to utilize these assets. | ||||||||
The Company had no change in its liability for uncertain tax position during 2013 and no liabilities for uncertain tax positions as of December 31, 2013.ASC 740 discusses the classification of related interest and penalties on income taxes. The Company’s policy is to record interest and penalties incurred in connection with income taxes as a component of income tax expense. No interest or penalties were recorded during the years ended December 31, 2013 and 2012. | ||||||||
The Company is required to file U.S. federal and state income tax returns. These returns are subject to audit by tax authorities beginning with the year ended December 31, 2010. | ||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||
(a) Company and Basis of Presentation | |||||||||||
Blonder Tongue Laboratories, Inc. (together with its consolidated subsidiaries, the “Company”) is a technology-development and manufacturing company that delivers television signal encoding, transcoding, digital transport, and broadband product solutions to the markets the Company serves, including the multi-dwelling unit market, the lodging/hospitality market and the institutional market, including hospitals, prisons and schools, primarily throughout the United States and Canada. The consolidated financial statements include the accounts of Blonder Tongue Laboratories, Inc. and its wholly-owned subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||
(b) Cash and Cash Equivalents | |||||||||||
The Company considers all highly liquid debt instruments with a maturity of less than three months at purchase to be cash equivalents. The Company did not have any cash equivalents at December 31, 2013 and 2012. Cash balances at financial institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”). At times, cash and cash equivalents may be uninsured or in deposit accounts that exceed the FDIC insurance limit. Periodically, the Company evaluates the creditworthiness of the financial institutions and evaluates its credit exposure. | |||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | ||||||||||
(c) Accounts Receivable and Allowance for Doubtful accounts | |||||||||||
Accounts receivable are customer obligations due under normal trade terms. The Company sells its products primarily to distributors and private cable operators. The Company performs continuing credit evaluations of its customers’ financial condition and although the Company generally does not require collateral, letters of credit may be required from its customers in certain circumstances. | |||||||||||
Senior management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. The Company includes any accounts receivable balances that are determined to be uncollectible, along with a general reserve based on historical experience, in its overall allowance for doubtful accounts. | |||||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||||
(d) Inventories | |||||||||||
Inventories are stated at the lower of cost, determined by the first-in, first-out (“FIFO”) method, or market. | |||||||||||
The Company periodically analyzes anticipated product sales based on historical results, current backlog and marketing plans. Based on these analyses, the Company anticipates that certain products will not be sold during the next twelve months. Inventories that are not anticipated to be sold in the next twelve months, have been classified as non-current. | |||||||||||
The Company continually analyzes its slow-moving, excess and obsolete inventories. Based on historical and projected sales volumes and anticipated selling prices, the Company establishes reserves. Inventory that is in excess of current and projected use is reduced by an allowance to a level that approximates its estimate of future demand. Products that are determined to be obsolete are written down to net realizable value. | |||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||
(e) Property, Plant and Equipment | |||||||||||
Property, plant and equipment are stated at cost. The Company provides for depreciation generally on the straight-line method based upon estimated useful lives of 3 to 5 years for office equipment, 5 to 7 years for furniture and fixtures, 6 to 10 years for machinery and equipment, 10 to 15 years for building improvements and 40 years for the manufacturing and administrative office facility. | |||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||
(f) Goodwill and Other Intangible Assets | |||||||||||
The Company accounts for goodwill and intangible assets in accordance with ASC 350 Intangibles - Goodwill and Other Intangible Assets (“ASC 350”). ASC 350 requires that goodwill and other intangibles with indefinite lives should be tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of an asset has decreased below its carrying value. | |||||||||||
Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations. GAAP requires that goodwill be tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis and between annual tests when circumstances indicate that the recoverability of the carrying amount of goodwill may be in doubt. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value. Significant judgment is required to estimate the fair value of reporting units including estimating future cash flows, determining appropriate discount rates and other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment. | |||||||||||
The Company’s business includes one goodwill reporting unit. The Company annually reviews goodwill for possible impairment by comparing the fair value of the reporting unit to the carrying value of the assets. If the fair value exceeds the carrying value of the net asset, no goodwill impairment is deemed to exist. If the fair value does not exceed the carrying value, goodwill is tested for impairment and written down to its implied fair value if it is determined to be impaired. The Company performed its annual goodwill impairment test on December 31, 2013 using both the income approach and market approach with assumptions that our management believes are appropriate in the circumstances. Based upon the results, the Company determined that goodwill was not impaired as of December 31, 2013 . | |||||||||||
The Company considers its trade name to have an indefinite life and in accordance with ASC 350, will not be amortized and will be reviewed annually for impairment. | |||||||||||
Intangible assets are recorded at cost except for assets acquired in a business combination, which are initially recorded at their estimated fair value. Intangible assets with finite lives include customer relationships and non-compete agreements are amortized on a straight-line basis over the estimated useful lives ranging from 5 to 10 years. | |||||||||||
The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2013 are as follows: | |||||||||||
Description | Cost | Accumulated | Net Amount | ||||||||
Amortization | |||||||||||
Customer relationships | $ | 1,365 | $ | 262 | $ | 1,103 | |||||
Proprietary technology | 349 | 67 | 282 | ||||||||
Non compete agreements | 248 | 158 | 90 | ||||||||
Amortized intangible assets | 1,962 | 487 | 1,475 | ||||||||
Non-Amortized Trade name | 741 | - | 741 | ||||||||
Total | $ | 2,703 | $ | 487 | $ | 2,216 | |||||
Amortization is computed utilizing the straight-line method over the estimated useful lives of 10 years for customer relationships, 10 years for proprietary technology, and 3 years for non compete agreements. Trade name is not amortized as it has an indefinite life. Amortization expense for intangible assets was $254 and $233 for the years ended December 31, 2013 and 2012, respectively. Intangible asset amortization is projected to be approximately $254, $178, $171, $171 and $171 in each of the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. | |||||||||||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' | ||||||||||
(g) Long-Lived Assets | |||||||||||
The Company continually monitors events and changes in circumstances that could indicate carrying amounts of the long-lived assets, including intangible assets may not be recoverable. When such events or changes in circumstances occur, the Company assesses recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, an impairment loss is recognized based on the excess of the carrying amount over the fair value of the assets. The Company did not recognize any intangible asset impairment charges in 2013. | |||||||||||
Derivatives, Reporting of Derivative Activity [Policy Text Block] | ' | ||||||||||
(h) Derivative Financial Instruments | |||||||||||
The Company utilizes interest rate swaps at times to manage interest rate exposures. The Company specifically designates interest rate swaps as hedges of debt instruments and recognizes interest differentials as adjustments to interest expense in the period they occur. The Company did not hold an interest rate swap during the years ended December 31, 2013 or 2012. The Company does not hold or issue financial instruments for trading purposes. | |||||||||||
Treasury Stock, Policy [Policy Text Block] | ' | ||||||||||
(i) Treasury Stock | |||||||||||
Treasury Stock is recorded at cost. Gains and losses on disposition are recorded as increases or decreases to additional paid-in capital with losses in excess of previously recorded gains charged directly to retained earnings. | |||||||||||
Risk and Uncertainty Policy [Text Block] | ' | ||||||||||
(j) Significant Risks and Uncertainties | |||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s significant estimates include stock compensation and reserves related to accounts receivable, inventory and deferred tax assets. Actual results could differ from those estimates. | |||||||||||
At December 31, 2013, approximately 28% of the Company’s employees were covered by a collective bargaining agreement, that was scheduled to expire in February 2014, but was extended on the same terms and conditions for an additional one year, until February 2015. | |||||||||||
The Company’s analog video headend products accounted for approximately 21% and 22% of the Company’s revenues in the years ended December 31, 2013 and 2012, respectively. The Company’s digital video headend products accounted for approximately 46% and 47% of the Company’s revenues in the years ended December 31, 2013 and 2012, respectively. Any substantial decrease in sales of analog video headend products without a related increase in digital video headend products could have a material adverse effect on the Company’s results of operations, financial condition and cash flows. | |||||||||||
Revenue Recognition, Services, Royalty Fees [Policy Text Block] | ' | ||||||||||
(k) Royalty and License Expense | |||||||||||
The Company records royalty expense, as applicable, when the related products are sold. Royalty expense is recorded as a component of selling expenses. Royalty expense was $82 and $125 for the years ended December 31, 2013 and 2012, respectively. The Company amortizes license fees over the life of the relevant contract. | |||||||||||
The components of intangible assets consisting of license agreements that are carried at cost less accumulated amortization are as follows: | |||||||||||
December 31, | |||||||||||
2013 | 2012 | ||||||||||
License agreements | $ | 4,897 | $ | 4,050 | |||||||
Accumulated amortization | -4,105 | -3,498 | |||||||||
$ | 792 | $ | 552 | ||||||||
Amortization of license fees is computed utilizing the straight-line method over the estimated useful life of 2 years. Amortization expense for license fees was $607 and $700 in the years ended December 31, 2013 and 2012, respectively. Amortization expense for license fees is projected to be approximately $550 and $292 in the years ended December 31, 2014 and 2015, respectively. | |||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||||
(l) Foreign Exchange | |||||||||||
The Company uses the United States dollar as its functional and reporting currency since the majority of the Company’s revenues, expenses, assets and liabilities are in the United States and the focus of the Company’s operations is in that country. Assets and liabilities in foreign currencies are translated using the exchange rate at the balance sheet date. Revenues and expenses are translated at average rates of exchange during the year. Gains and losses from foreign currency transactions and translation for the years ended December 31, 2013 and 2012 and cumulative translation gains and losses as of December 31, 2013 and 2012 were not material. | |||||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | ||||||||||
(m) Research and Development | |||||||||||
Research and development expenditures for the Company’s projects are expensed as incurred. | |||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||
(n) Revenue Recognition | |||||||||||
The Company records revenues when products are shipped and the amount of revenue is determinable and collection is reasonably assured. Customers do not have a right of return. The Company provides a three year warranty on most products. Warranty expense was de minimis in the two year period ended December 31, 2013. | |||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||
(o) Share Based Payments | |||||||||||
The Company accounts for share based payments in accordance with ASC Topic 718 “Compensation – Stock Payments” (“ASC Topic 718”). The statement requires companies to expense the value of employee stock options and similar awards. Under ASC Topic 718, share-based payment awards result in a cost that will be measured at fair value on the awards’ grant date based on the estimated number of awards that are expected to vest. Compensation cost for awards that vest will not be reversed if the awards expire without being exercised. Stock compensation expense under ASC Topic 718 was $272 and $258 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||
The Company estimates the fair value of each stock option grant by using the Black-Scholes option-pricing model with the following weighted average assumptions used for grants: expected lives of 6.5 and 6.5 years; no dividend yield; volatility at 75% and 77%, and risk free interest rate of 1.32% and 1.18% for 2013 and 2012, respectively. | |||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||
(p) Income Taxes | |||||||||||
The Company accounts for income taxes under the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740 “Income Taxes” (“ASC Topic 740”). Deferred income taxes are provided for temporary differences in the recognition of certain income and expenses for financial and tax reporting purposes. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||
The Company will classify as income tax expense any interest and penalties recognized in accordance with ASC Topic 740. The Company files income tax returns primarily in New Jersey, along with certain other jurisdictions. | |||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||
(q) Earnings (loss) Per Share | |||||||||||
Earnings (loss) per share are calculated in accordance with ASC Topic 260 “Earnings Per Share,” which provides for the calculation of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share includes no dilution and is computed by dividing net earnings by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflect, in periods in which they have a dilutive effect, the effect of common shares issuable upon exercise of stock options. The diluted share base excludes incremental shares of 1,118 and 1,032 related to stock options for December 31, 2013 and 2012, respectively. These shares were excluded due to their antidilutive effect. | |||||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||||||||
(r) Other Comprehensive(Loss) Income | |||||||||||
Comprehensive (loss) income is a measure of income which includes both net (loss) income and other comprehensive (loss) income. Other comprehensive (loss) income results from items deferred from recognition into the statement of operations and principally consists of unrecognized pension losses net of taxes. Accumulated other comprehensive (loss) income is separately presented on the Company's consolidated balance sheet as part of stockholders’ equity. | |||||||||||
Subsequent Events, Policy [Policy Text Block] | ' | ||||||||||
(s) Subsequent Events | |||||||||||
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any additional recognized or non-recognized subsequent events that would require adjustment to or disclosure in the consolidated financial statements. | |||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||
(t) Recent Accounting Pronouncements | |||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 amends Accounting Standards Codification (“ASC”) 740, Income Taxes, by providing guidance on the financial statement presentation of an unrecognized benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU does not affect the recognition or measurement of uncertain tax positions under ASC 740. ASU 2013-11 will be effective for the Company for interim and annual periods beginning after December 15, 2013, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. | |||||||||||
In February 2013, the FASB issued ASU 2013-02 (“ASU 2013-02”), “Reporting of Amounts Reclassified Out of Other Comprehensive Income”. ASU 2013-02 finalized the reporting for reclassifications out of accumulated other comprehensive income, which was previously deferred, as discussed below. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, they do require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is also required to present on the face of the financials where net income is reported or in the footnotes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. Other amounts need only be cross-referenced to other disclosures required that provide additional detail of these amounts. The amendments in this update are effective for reporting periods beginning after December 15, 2012, and early adoption is permitted. The adoption of this standard did not have a material impact on the Company’s financial position and results of operations. | |||||||||||
The FASB, the Emerging Issues Task Force and the SEC have issued certain other accounting standards updates and regulations as of December 31, 2013 that will become effective in subsequent periods; however, management of the Company does not believe that any of those updates would have significantly affected the Company’s financial accounting measures or disclosures had they been in effect during 2013 or 2012, and it does not believe that any of those pronouncements will have a significant impact on the Company’s consolidated financial statements at the time they become effective. | |||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||
The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2013 are as follows: | |||||||||||
Description | Cost | Accumulated | Net Amount | ||||||||
Amortization | |||||||||||
Customer relationships | $ | 1,365 | $ | 262 | $ | 1,103 | |||||
Proprietary technology | 349 | 67 | 282 | ||||||||
Non compete agreements | 248 | 158 | 90 | ||||||||
Amortized intangible assets | 1,962 | 487 | 1,475 | ||||||||
Non-Amortized Trade name | 741 | - | 741 | ||||||||
Total | $ | 2,703 | $ | 487 | $ | 2,216 | |||||
Acquisition_Tables
Acquisition (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Business Combination, Separately Recognized Transactions [Table Text Block] | ' | ||||
The net assets acquired were: | |||||
Accounts receivable | $ | 542 | |||
Inventories | 3,148 | ||||
Prepaid expenses | 30 | ||||
Property and equipment | 670 | ||||
Intangible assets | 2,703 | ||||
Goodwill | 493 | ||||
Accounts payable | -529 | ||||
Other accrued expenses | -37 | ||||
$ | 7,020 | ||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||
Pro Forma Combined Statements of Operations | |||||
Year Ended | |||||
December 31, | |||||
2012 | |||||
Net sales | $ | 31,296 | |||
Earnings (loss) from operations | -2,263 | ||||
Net earnings (loss) | $ | -4,960 | |||
Basic and diluted net earnings (loss) per share | $ | -0.8 | |||
Basic weighted average shares outstanding | 6,216 | ||||
Diluted weighted average shares outstanding | 6,216 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule Of Inventory, Current and Noncurrent [Text Block] | ' | |||||||
Inventories, net of reserves, are summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Raw materials | $ | 5,351 | $ | 6,493 | ||||
Work in process | 2,815 | 2,950 | ||||||
Finished goods | 5,394 | 6,659 | ||||||
13,560 | 16,102 | |||||||
Less current inventory | -8,975 | -11,319 | ||||||
4,585 | 4,783 | |||||||
Less reserve for slow moving and obsolete inventory | -2,470 | -2,185 | ||||||
$ | 2,115 | $ | 2,598 | |||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property, plant and equipment are summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land | $ | 1,000 | $ | 1,000 | ||||
Building | 3,361 | 3,361 | ||||||
Machinery and equipment | 10,078 | 9,980 | ||||||
Furniture and fixtures | 412 | 412 | ||||||
Office equipment | 2,232 | 2,179 | ||||||
Building improvements | 1,039 | 1,036 | ||||||
18,122 | 17,968 | |||||||
Less: Accumulated depreciation and amortization | -14,412 | -13,959 | ||||||
$ | 3,710 | $ | 4,009 | |||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||
Long-term debt consists of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Term loan | $ | 3,983 | $ | 4,183 | ||||
Capital leases (Note 6) | 180 | 257 | ||||||
4,163 | 4,440 | |||||||
Less: Current portion | -270 | -277 | ||||||
$ | 3,893 | $ | 4,163 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | |||||||
Future minimum rental payments, required for all non-cancellable leases are as follows: | ||||||||
Capital | Operating | |||||||
2014 | $ | 78 | $ | 138 | ||||
2015 | 72 | 90 | ||||||
2016 | 36 | 10 | ||||||
2017 | 7 | 3 | ||||||
2018 | - | - | ||||||
Thereafter | - | - | ||||||
Total future minimum lease payments | 193 | $ | 241 | |||||
Less: amounts representing interest | -13 | |||||||
Present value of minimum lease payments | $ | 180 | ||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||
The following table sets forth the change in projected benefit obligation, change in plan assets and funded status of the defined benefit pension plan: | ||||||||||
2013 | 2012 | |||||||||
Change in Benefit Obligation | ||||||||||
Benefit obligation at beginning of year | $ | 3,307 | $ | 3,294 | ||||||
Service cost | 0 | 0 | ||||||||
Interest cost | 129 | 141 | ||||||||
Plan participants’ contributions | 0 | 0 | ||||||||
Amendments | 0 | 0 | ||||||||
Actuarial loss (gain) | -321 | 217 | ||||||||
Business combinations | 0 | 0 | ||||||||
Divestitures | 0 | 0 | ||||||||
Curtailments | 0 | 0 | ||||||||
Settlements | 0 | -326 | ||||||||
Special termination benefits | 0 | 0 | ||||||||
Benefits paid | -108 | -19 | ||||||||
Currency translation adjustment | 0 | 0 | ||||||||
Benefit obligation at end of year | $ | 3,007 | $ | 3,307 | ||||||
Change in Plan Assets | ||||||||||
Fair value of plan assets at beginning of year | $ | 2,690 | $ | 2,513 | ||||||
Actual return on plan assets | 640 | 323 | ||||||||
Employer contribution | 200 | 200 | ||||||||
Business combinations | 0 | 0 | ||||||||
Divestitures | 0 | 0 | ||||||||
Settlements | 0 | -326 | ||||||||
Plan participants’ contributions | 0 | 0 | ||||||||
Benefits paid | -108 | -19 | ||||||||
Administrative Expenses Paid | 0 | -1 | ||||||||
Currency Translation Adjustment | 0 | 0 | ||||||||
Fair value of plan assets at end of year | $ | 3,422 | $ | 2,690 | ||||||
Funded status | $ | 415 | $ | -617 | ||||||
Amounts Recognized in the Statement of Financial Position consists of: | ||||||||||
Noncurrent assets | $ | 415 | $ | 0 | ||||||
Current liabilities | $ | 0 | $ | 0 | ||||||
Noncurrent liabilities | $ | 0 | $ | -617 | ||||||
Net amount recognized | $ | 415 | $ | -617 | ||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | |||||||||
2013 | 2012 | |||||||||
Change in Accumulated Other Comprehensive Income (Loss) | - | - | ||||||||
Amounts Recognized in Accumulated Other Comprehensive Income (Loss) consist of: | ||||||||||
Net actuarial loss (gain) | $ | 668 | $ | 1,621 | ||||||
Prior service cost (credit) | - | - | ||||||||
Unrecognized net initial obligation (asset) | - | - | ||||||||
Total (before tax effects) | $ | 668 | $ | 1,621 | ||||||
Accumulated benefit Obligation End of Year | $ | 3,007 | $ | 3,307 | ||||||
2013 | 2012 | |||||||||
Information for Pension Plans with an Accumulated Benefit Obligation in excess of Plan Assets: | ||||||||||
Projected benefit of obligation | N/A | $ | 3,307 | |||||||
Accumulated benefit obligation | N/A | $ | 3,307 | |||||||
Fair value of plan assets | N/A | $ | 2,690 | |||||||
Weighted-Average Assumptions Used to Determine Benefit Obligation in Excess of Plan Assets: | ||||||||||
Discount Rate | 4.9 | % | 4 | % | ||||||
Salary Scale | N/A | N/A | ||||||||
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) | ||||||||||
Net periodic cost | ||||||||||
Service cost | $ | 0 | $ | 0 | ||||||
Interest cost | 129 | 141 | ||||||||
Expected return on plan assets | -191 | -175 | ||||||||
Recognized prior service cost (credit) | 0 | 0 | ||||||||
Recognized actuarial (gain) loss | 183 | 230 | ||||||||
Recognized net initial obligation (asset) | 0 | 0 | ||||||||
Recognized actuarial (gain) loss due to curtailments | 0 | 0 | ||||||||
Recognized actuarial (gain) loss due to settlements | 0 | 160 | ||||||||
Recognized actuarial (gain) loss due to special termination benefits | 0 | 0 | ||||||||
Net periodic benefit cost | $ | 121 | $ | 356 | ||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | ||||||||||
Net actuarial loss (gain) | $ | -770 | $ | 69 | ||||||
Recognized actuarial loss (gain) | -183 | -390 | ||||||||
Prior service cost (credit) | 0 | 0 | ||||||||
Recognized prior service cost (credit) | 0 | 0 | ||||||||
Total net obligation | 0 | 0 | ||||||||
Total recognized in other comprehensive income (before tax effects) | $ | -953 | $ | -321 | ||||||
Total recognized in net periodic benefit cost and other comprehensive income (loss) (before tax effects) | $ | -832 | $ | 36 | ||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | ' | |||||||||
2013 | 2012 | |||||||||
Amounts Expected to be Recognized in Net Periodic Cost in the Coming Year | ||||||||||
(Gain)/loss recognition | $ | 47 | $ | 181 | ||||||
Prior service cost recognition | $ | 0 | $ | 0 | ||||||
Net initial obligations/(asset) recognition | $ | 0 | $ | 0 | ||||||
Weighted-Average Assumptions Used to Determine Net Periodic Cost for Fiscal Periods Ending as of December 31 | ||||||||||
Discount rate | 4 | % | 4.5 | % | ||||||
Expected asset return | 7 | % | 7 | % | ||||||
Salary Scale | N/A | N/A | ||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||
Plan Assets | ||||||||||
Expected Long- | ||||||||||
Asset Category | Term Return | Target Allocation | 2013 | 2012 | ||||||
Equity securities | 8.5 | % | 55 | % | 82 | % | 77 | % | ||
Debt securities | 5.5 | % | 45 | % | 18 | % | 23 | % | ||
Total | 7 | % | 100 | % | 100 | % | 100 | % | ||
Estimated Future Benefit Payments | ||||||||||
Expected company contributions in the following fiscal year | $ | - | ||||||||
Expected Benefit Payments: | ||||||||||
In the first year following the disclosure date | $ | 69 | ||||||||
In the second year following the disclosure date | $ | 105 | ||||||||
In the third year following the disclosure date | $ | 117 | ||||||||
In the fourth year following the disclosure date | $ | 81 | ||||||||
In the fifth year following the disclosure date | $ | 136 | ||||||||
In the sixth year following the disclosure date | $ | 737 | ||||||||
Stock_Option_Plans_Tables
Stock Option Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||||||||||||||||||
The following tables summarize information about stock options outstanding for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||
1995 | Weighted- | 1996 | Weighted- | 2005 | Weighted- | 2005 | Weighted- | |||||||||||||||||||||||
Plan (#) | Average | Plan (#) | Average | Employee | Average | Director | Average | |||||||||||||||||||||||
Exercise | Exercise | Plan (#) | Exercise | Plan (#) | Exercise | |||||||||||||||||||||||||
Price ($) | Price | Price ($) | Price ($) | |||||||||||||||||||||||||||
($) | ||||||||||||||||||||||||||||||
Shares under option: | ||||||||||||||||||||||||||||||
Options outstanding at January 1, 2012 | 61 | 3.84 | 80 | 3.1 | 1,001 | 1.86 | 277 | 1.51 | ||||||||||||||||||||||
Granted | - | - | - | - | 288 | 1.05 | 52 | 1.05 | ||||||||||||||||||||||
Exercised | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
Forfeited | - | - | -50 | 3.16 | -64 | 1.88 | -80 | 1.55 | ||||||||||||||||||||||
Options outstanding at December 31, 2012 | 61 | 3.84 | 30 | 3 | 1,225 | 1.67 | 249 | 1.4 | ||||||||||||||||||||||
Granted | - | - | - | - | 300 | 1 | 50 | 1 | ||||||||||||||||||||||
Exercised | - | - | - | - | -1 | 0.76 | - | - | ||||||||||||||||||||||
Forfeited | - | - | -10 | 2.05 | -42 | 0.99 | - | - | ||||||||||||||||||||||
Options outstanding at December 31, 2013 | 61 | 3.84 | 20 | 3.48 | 1,482 | 1.56 | 299 | 1.34 | ||||||||||||||||||||||
Options exercisable at December 31, 2013 | 61 | 3.84 | 20 | 3.48 | 926 | 1.81 | 249 | 1.4 | ||||||||||||||||||||||
Weighted-average fair value of options granted during: | ||||||||||||||||||||||||||||||
2012 | - | - | $ | 0.72 | $ | 0.72 | ||||||||||||||||||||||||
2013 | - | - | $ | 0.67 | $ | 0.67 | ||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||||||||||||||||||
Total options available for grant were 219 and 501 at December 31, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||||||||||||||||
Range of Exercise | Number of | Weighted- | Weighted- | Number | Weighted- | |||||||||||||||||||||||||
Prices ($) | Options | Average | Average | Exercisable | Average | |||||||||||||||||||||||||
Outstanding | Remaining | Exercise Price | at 12/31/13 | Exercise Price | ||||||||||||||||||||||||||
at 12/31/13 | Contractual | ($) | ($) | |||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||
1995 Plan: 3.84 | 61 | 1.2 | 3.84 | 61 | 3.84 | |||||||||||||||||||||||||
1996 Plan: 2.05 to 3.85 | 20 | 0.9 | 3.48 | 20 | 3.48 | |||||||||||||||||||||||||
2005 Employee Plan: 0.76 to 3.84 | 1,482 | 5.8 | 1.56 | 926 | 1.81 | |||||||||||||||||||||||||
2005 Director Plan: 0.76 to 1.98 | 299 | 6.5 | 1.34 | 249 | 1.4 | |||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||
The following summarizes the provision (benefit) for income taxes: | ||||||||
2013 | 2012 | |||||||
Current: | ||||||||
Federal | -9 | |||||||
State and local | $ | 87 | $ | 24 | ||||
$ | 78 | $ | 24 | |||||
Deferred: | ||||||||
Federal | -936 | -699 | ||||||
State and local | -368 | -342 | ||||||
-1,304 | -1,041 | |||||||
Valuation allowance | 1,226 | 3,349 | ||||||
Provision (benefit) for income taxes | $ | - | $ | 2,332 | ||||
Schedule Of Components Of Income Tax Expense Benefit Domestic and Foreign [Table Text Block] | ' | |||||||
The provision (benefit) for income taxes differs from the amounts computed by applying the applicable Federal statutory rates due to the following: | ||||||||
2013 | 2012 | |||||||
Provision (benefit) for Federal income taxes at the statutory rate | $ | -959 | $ | -961 | ||||
State and local income taxes, net of Federal benefit | -153 | -139 | ||||||
Permanent differences: | ||||||||
Stock compensation | 92 | 88 | ||||||
Other | 24 | 21 | ||||||
Net operating loss true up | - | -162 | ||||||
Change in valuation allowance | 1,226 | 3,349 | ||||||
Other | -230 | 136 | ||||||
Provision (benefit) for income taxes | $ | - | $ | 2,332 | ||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for doubtful accounts | $ | 79 | $ | 83 | ||||
Inventories | 1,478 | 1,176 | ||||||
Intangible | 97 | 137 | ||||||
Net operating loss carry forward | 7,645 | 6,683 | ||||||
Other | 85 | 85 | ||||||
Total deferred tax assets | 9,384 | 8,164 | ||||||
Deferred tax liabilities: | ||||||||
Depreciation | -58 | -64 | ||||||
Indefinite life intangibles | -63 | -30 | ||||||
Total deferred tax liabilities | -121 | -94 | ||||||
9,263 | 8,070 | |||||||
Valuation allowance | -9,326 | -8,100 | ||||||
Net | $ | -63 | $ | -30 | ||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | $2,703 | ' |
Accumulated Amortization | 487 | ' |
Net Amount | 2,216 | 2,470 |
Customer Relationships [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | 1,365 | ' |
Accumulated Amortization | 262 | ' |
Net Amount | 1,103 | ' |
Proprietary Technology [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | 349 | ' |
Accumulated Amortization | 67 | ' |
Net Amount | 282 | ' |
Noncompete Agreements [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | 248 | ' |
Accumulated Amortization | 158 | ' |
Net Amount | 90 | ' |
Amortized Intangible Assets [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | 1,962 | ' |
Accumulated Amortization | 487 | ' |
Net Amount | 1,475 | ' |
Non Amortized Trade Name [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Cost | 741 | ' |
Accumulated Amortization | 0 | ' |
Net Amount | $741 | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of Significant Accounting Policies [Line Items] | ' | ' |
License agreements | $4,897 | $4,050 |
Accumulated amortization | -4,105 | -3,498 |
License Agreements, Net | $792 | $552 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Amortization of Intangible Assets | $254 | $233 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 254 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 178 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 171 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 171 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 171 | ' |
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Employer's Participants | 28.00% | ' |
Royalty Expense | 82 | 125 |
Stock or Unit Option Plan Expense | 272 | 258 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '6 years 6 months | '6 years 6 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 75.00% | 77.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.32% | 1.18% |
Incremental Common Shares Attributable to Call Options and Warrants | 1,118 | 1,032 |
Finite-Lived Intangible Assets, Amortization Method | '2 years | ' |
Amortization | 861 | 933 |
Customer Relationships [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Amortization Method | '10 years | ' |
Proprietary Technology [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Amortization Method | '10 years | ' |
Noncompete Agreements [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Amortization Method | '3 years | ' |
Analog Video Headend Products [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Concentration Risk, Product | '21% | '22% |
Digital Video Headend Products [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Concentration Risk, Product | '46% | '47% |
Minimum [Member] | Customer Relationships [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' |
Maximum [Member] | Customer Relationships [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' |
Office Equipment [Member] | Minimum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '3 years | ' |
Office Equipment [Member] | Maximum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 years | ' |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 years | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '7 years | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '6 years | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '10 years | ' |
Building Improvements [Member] | Minimum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '10 years | ' |
Building Improvements [Member] | Maximum [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 years | ' |
Manufacturing Facility [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '40 years | ' |
License [Member] | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 550 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 292 | ' |
Amortization | $607 | $700 |
Acquisition_Details
Acquisition (Details) (USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
The net assets acquired were: | ' |
Accounts receivable | $542 |
Inventories | 3,148 |
Prepaid expenses | 30 |
Property and equipment | 670 |
Intangible assets | 2,703 |
Goodwill | 493 |
Accounts payable | -529 |
Other accrued expenses | -37 |
Total | $7,020 |
Acquisition_Details_1
Acquisition (Details 1) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2012 |
Business Acquisition [Line Items] | ' |
Net sales | $31,296 |
Earnings (loss) from operations | -2,263 |
Net earnings (loss) | ($4,960) |
Basic and diluted net earnings (loss) per share (in dollars per share) | ($0.80) |
Basic weighted average shares outstanding (in shares) | 6,216 |
Diluted weighted average shares outstanding (in shares) | 6,216 |
Acquisition_Details_Textual
Acquisition (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Feb. 01, 2012 |
Business Acquisition [Line Items] | ' | ' |
Business Acquisition, Date of Acquisition Agreement | 1-Feb-12 | ' |
Business Acquisition Date Of Acquisition Agreement Amended | 3-Feb-12 | ' |
Business Acquisition Cost Of Acquired Purchase Price | ' | $7,020 |
Business Acquisition Working Capital Adjustment Included In Purchase Price | ' | 545 |
Business Acquisition Contingent Purchase Price Payments | $1,500 | ' |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Raw materials | $5,351 | $6,493 |
Work in process | 2,815 | 2,950 |
Finished goods | 5,394 | 6,659 |
Inventory, gross | 13,560 | 16,102 |
Less current inventory | -8,975 | -11,319 |
Inventory Value Before Reserves | 4,585 | 4,783 |
Less reserve for slow moving and obsolete inventory | -2,470 | -2,185 |
Inventories, net non-current | $2,115 | $2,598 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Land | $1,000 | $1,000 |
Building | 3,361 | 3,361 |
Machinery and equipment | 10,078 | 9,980 |
Furniture and fixtures | 412 | 412 |
Office equipment | 2,232 | 2,179 |
Building improvements | 1,039 | 1,036 |
Property, Plant and Equipment, Gross | 18,122 | 17,968 |
Less: Accumulated depreciation and amortization | -14,412 | -13,959 |
Property, Plant and Equipment, Net | $3,710 | $4,009 |
Property_Plant_and_Equipment_D1
Property, Plant and Equipment (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciation | $453 | $505 |
Debt_Details
Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Term loan | $3,983 | $4,183 |
Capital leases (Note 6) | 180 | 257 |
Long-term Debt | 4,163 | 4,440 |
Less: Current portion | -270 | -277 |
Long Term Debt Noncurrent | $3,893 | $4,163 |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2008 | Nov. 13, 2013 | Sep. 30, 2013 | Aug. 06, 2008 |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $6,000 | ' | $6,000 | $8,500 | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 270 | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 3,851 | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 35 | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 7 | ' | ' | ' | ' |
Line of Credit Facility, Increase (Decrease), Other, Net | ' | 9,350 | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | 8,000 |
Line Of Credit Facility Interest Rate Period At One Month | 0.17% | ' | ' | ' | ' |
Line Of Credit Facility Interest Rate Period At Three Months | 0.25% | ' | ' | ' | ' |
Line Of Credit Facility Interest Rate Period At Six Months | 0.35% | ' | ' | ' | ' |
Amendment Fee | 45 | ' | ' | ' | ' |
Revolving Credit Advances Against Eligible Inventory Eligible | 3,000 | ' | ' | ' | ' |
Revolving Credit Advances Rate | 50.00% | ' | ' | ' | ' |
Subsequent Event [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 5,000 | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate Description | 'reduction in such advance rate to 25% effective on or about June 27, 2014 | ' | ' | ' | ' |
Revolving Credit Advances Against Eligible Inventory Eligible | 2,000 | ' | ' | ' | ' |
Revolving Credit Advances Rate | 35.00% | ' | ' | ' | ' |
Revolving Credit Facility [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate Description | 'the Revolver currently bears interest at a rate per annum equal to the prime lending rate announced from time to time by Santander (Prime) plus 1.25% or the LIBOR rate plus 4.00% | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 1,275 | ' | ' | ' | 5,000 |
Debt Instrument, Maturity Date | 1-Feb-15 | ' | ' | ' | ' |
Term Loan Credit Facility [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate Description | 'The Term Loan currently bears interest at a rate per annum equal to Prime plus 1.50% or the LIBOR rate plus 4.25%. Prime was 3.25% at December 31, 2013 | ' | ' | ' | ' |
Line of Credit Facility, Periodic Payment, Principal | 18 | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | $3,983 | ' | ' | ' | $4,350 |
Debt Instrument, Maturity Date | 1-Feb-15 | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Loss Contingencies [Line Items] | ' |
2014-Capital | $78 |
2015-Capital | 72 |
2016-Capital | 36 |
2017-Capital | 7 |
2018-Capital | 0 |
Thereafter-Capital | 0 |
Total future minimum lease payments | 193 |
Less: amounts representing interest | -13 |
Present value of minimum lease payments | 180 |
2014-Operating | 138 |
2015-Operating | 90 |
2016-Operating | 10 |
2017-Operating | 3 |
2018-Operating | 0 |
Thereafter-Operating | 0 |
Total future minimum lease payments | $241 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loss Contingencies [Line Items] | ' | ' |
Capital Leased Assets, Gross | $370 | $370 |
Accumulated Amortization | 225 | 144 |
Operating Leases, Rent Expense | $175 | $191 |
Lease Expiration Date | 30-Sep-17 | ' |
Benefit_Plans_Details
Benefit Plans (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Change in Benefit Obligation | ' | ' |
Benefit obligation at beginning of year | $3,307 | $3,294 |
Service cost | 0 | 0 |
Interest cost | 129 | 141 |
Plan participants' contributions | 0 | 0 |
Amendments | 0 | 0 |
Actuarial loss (gain) | -321 | 217 |
Business combinations | 0 | 0 |
Divestitures | 0 | 0 |
Curtailments | 0 | 0 |
Settlements | 0 | -326 |
Special termination benefits | 0 | 0 |
Benefits paid | -108 | -19 |
Currency translation adjustment | 0 | 0 |
Benefit obligation at end of year | 3,007 | 3,307 |
Change in Plan Assets | ' | ' |
Fair value of plan assets at beginning of year | 2,690 | 2,513 |
Actual return on plan assets | 640 | 323 |
Employer contribution | 200 | 200 |
Business combinations | 0 | 0 |
Divestitures | 0 | 0 |
Settlements | 0 | -326 |
Plan participants' contributions | 0 | 0 |
Benefits paid | -108 | -19 |
Administrative Expenses Paid | 0 | -1 |
Currency Translation Adjustment | 0 | 0 |
Fair value of plan assets at end of year | 3,422 | 2,690 |
Funded status | 415 | -617 |
Amounts Recognized in the Statement of Financial Position consists of: | ' | ' |
Noncurrent assets | 415 | 0 |
Current liabilities | 0 | 0 |
Noncurrent liabilities | 0 | -617 |
Net amount recognized | $415 | ($617) |
Benefit_Plans_Details_1
Benefit Plans (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Change in Accumulated Other Comprehensive Income (Loss) | $0 | $0 |
Amounts Recognized in Accumulated Other Comprehensive Income (Loss) consist of: | ' | ' |
Net actuarial loss (gain) | 668 | 1,621 |
Prior service cost (credit) | 0 | 0 |
Unrecognized net initial obligation (asset) | 0 | 0 |
Total (before tax effects) | 668 | 1,621 |
Accumulated benefit Obligation End of Year | 3,007 | 3,307 |
Information for Pension Plans with an Accumulated Benefit Obligation in excess of Plan Assets: | ' | ' |
Projected benefit of obligation | 0 | 3,307 |
Accumulated benefit obligation | 0 | 3,307 |
Fair value of plan assets | 0 | 2,690 |
Weighted-Average Assumptions Used to Determine Benefit Obligation in Excess of Plan Assets: | ' | ' |
Discount Rate | 4.90% | 4.00% |
Salary Scale | 0 | 0 |
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) | ' | ' |
Service cost | 0 | 0 |
Interest cost | 129 | 141 |
Expected return on plan assets | -191 | -175 |
Recognized prior service cost (credit) | 0 | 0 |
Recognized actuarial (gain) loss | 183 | 230 |
Recognized net initial obligation (asset) | 0 | 0 |
Recognized actuarial (gain) loss due to curtailments | 0 | 0 |
Recognized actuarial (gain) loss due to settlements | 0 | 160 |
Recognized actuarial (gain) loss due to special termination benefits | 0 | 0 |
Net periodic benefit cost | 121 | 356 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | ' | ' |
Net actuarial loss (gain) | -770 | 69 |
Recognized actuarial loss (gain) | -183 | -390 |
Prior service cost (credit) | 0 | 0 |
Recognized prior service cost (credit) | 0 | 0 |
Total net obligation | 0 | 0 |
Total recognized in other comprehensive income (before tax effects) | -953 | -321 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) (before tax effects) | ($832) | $36 |
Benefit_Plans_Details_2
Benefit Plans (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts Expected to be Recognized in Net Periodic Cost in the Coming Year | ' | ' |
(Gain)/loss recognition | $47 | $181 |
Prior service cost recognition | 0 | 0 |
Net initial obligations/(asset) recognition | 0 | 0 |
Weighted-Average Assumptions Used to Determine Net Periodic Cost for Fiscal Periods Ending as of December 31 | ' | ' |
Discount rate | 4.00% | 4.50% |
Expected asset return | 7.00% | 7.00% |
Salary Scale | $0 | $0 |
Benefit_Plans_Details_3
Benefit Plans (Details 3) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Expected Long-Term Return | 7.00% | 7.00% |
Target Allocation | '100% | ' |
Defined Benefit Plan Weighted Average Asset Allocations | 100.00% | 100.00% |
Estimated Future Benefit Payments | ' | ' |
Expected company contributions in the following fiscal year | $0 | ' |
Expected Benefit Payments: | ' | ' |
In the first year following the disclosure date | 69 | ' |
In the second year following the disclosure date | 105 | ' |
In the third year following the disclosure date | 117 | ' |
In the fourth year following the disclosure date | 81 | ' |
In the fifth year following the disclosure date | 136 | ' |
In the sixth year following the disclosure date | $737 | ' |
Equity Securities [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Expected Long-Term Return | 8.50% | ' |
Target Allocation | '55% | ' |
Defined Benefit Plan Weighted Average Asset Allocations | 82.00% | 77.00% |
Debt Securities [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Expected Long-Term Return | 5.50% | ' |
Target Allocation | '45% | ' |
Defined Benefit Plan Weighted Average Asset Allocations | 18.00% | 23.00% |
Benefit_Plans_Details_Textual
Benefit Plans (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $217 | $205 |
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Inputs | '100% | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details Textual) (Chief Executive Officer [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Chief Executive Officer [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related Party Transaction, Due from (to) Related Party, Noncurrent | $117 | $123 |
Payments For Aggregate Indebtedness | $24 | ' |
Concentration_of_Credit_Risk_D
Concentration of Credit Risk (Details Textual) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Customer One [Member] | Customer One [Member] | Customer One [Member] | Customer One [Member] | Customer Two [Member] | Customer Two [Member] | Customer Two [Member] | Customer Three [Member] | Customer Three [Member] | Customer Three [Member] | Foreign Tax Authority [Member] | Foreign Tax Authority [Member] | |||
Sales Revenue [Member] | Sales Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue [Member] | Sales Revenue [Member] | |||
Unusual Risk or Uncertainty [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Trade Accounts Receivable | 55.00% | 55.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | 22.00% | 18.00% | 16.00% | 25.00% | 12.00% | 15.00% | 14.00% | 14.00% | 23.00% | 17.00% | 5.00% | 5.00% |
Stock_Repurchase_Program_Detai
Stock Repurchase Program (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jul. 31, 2002 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 13, 2007 |
Program2002 [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | |
Program2002 [Member] | Program2007 [Member] | Program2007 [Member] | ||
Option Indexed to Issuers Equity [Line Items] | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | $300 | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | 100 | 100 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | ' | $72 | ' | ' |
Preferred_Stock_Details_Textua
Preferred Stock (Details Textual) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Option Indexed to Issuers Equity [Line Items] | ' | ' |
Preferred stock, shares authorized | 5,000 | 5,000 |
Stock_Option_Plans_Details
Stock Option Plans (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Plan 1995 [Member] | ' | ' |
Shares under option: | ' | ' |
Options outstanding-Shares | 61 | 61 |
Granted-Shares | 0 | 0 |
Exercised - Shares | 0 | 0 |
Forfeited-Shares | 0 | 0 |
Options outstanding-Shares | 61 | 61 |
Options Exercisable-Shares | 61 | ' |
Options outstanding-Weighted Average Exercise Price | $3.84 | $3.84 |
Granted-Weighted Average Exercise Price | $0 | $0 |
Exercised-Weighted Average Exercise Price | $0 | $0 |
Forfeited-Weighted Average Exercise Price | $0 | $0 |
Options outstanding-Weighted Average Exercise Price | $3.84 | $3.84 |
Options exercisable-Weighted Average Exercise Price | $3.84 | ' |
Weighted-average fair value of options granted during: | ' | ' |
Weighted-average fair value of options granted | $0 | $0 |
Plan 1996 [Member] | ' | ' |
Shares under option: | ' | ' |
Options outstanding-Shares | 30 | 80 |
Granted-Shares | 0 | 0 |
Exercised - Shares | 0 | 0 |
Forfeited-Shares | -10 | -50 |
Options outstanding-Shares | 20 | 30 |
Options Exercisable-Shares | 20 | ' |
Options outstanding-Weighted Average Exercise Price | $3 | $3.10 |
Granted-Weighted Average Exercise Price | $0 | $0 |
Exercised-Weighted Average Exercise Price | $0 | $0 |
Forfeited-Weighted Average Exercise Price | $2.05 | $3.16 |
Options outstanding-Weighted Average Exercise Price | $3.48 | $3 |
Options exercisable-Weighted Average Exercise Price | $3.48 | ' |
Weighted-average fair value of options granted during: | ' | ' |
Weighted-average fair value of options granted | $0 | $0 |
Employee Plan 2005 [Member] | ' | ' |
Shares under option: | ' | ' |
Options outstanding-Shares | 1,225 | 1,001 |
Granted-Shares | 300 | 288 |
Exercised - Shares | -1 | 0 |
Forfeited-Shares | -42 | -64 |
Options outstanding-Shares | 1,482 | 1,225 |
Options Exercisable-Shares | 926 | ' |
Options outstanding-Weighted Average Exercise Price | $1.67 | $1.86 |
Granted-Weighted Average Exercise Price | $1 | $1.05 |
Exercised-Weighted Average Exercise Price | $0.76 | $0 |
Forfeited-Weighted Average Exercise Price | $0.99 | $1.88 |
Options outstanding-Weighted Average Exercise Price | $1.56 | $1.67 |
Options exercisable-Weighted Average Exercise Price | $1.81 | ' |
Weighted-average fair value of options granted during: | ' | ' |
Weighted-average fair value of options granted | $0.67 | $0.72 |
Director Plan 2005 [Member] | ' | ' |
Shares under option: | ' | ' |
Options outstanding-Shares | 249 | 277 |
Granted-Shares | 50 | 52 |
Exercised - Shares | 0 | 0 |
Forfeited-Shares | 0 | -80 |
Options outstanding-Shares | 299 | 249 |
Options Exercisable-Shares | 249 | ' |
Options outstanding-Weighted Average Exercise Price | $1.40 | $1.51 |
Granted-Weighted Average Exercise Price | $1 | $1.05 |
Exercised-Weighted Average Exercise Price | $0 | $0 |
Forfeited-Weighted Average Exercise Price | $0 | $1.55 |
Options outstanding-Weighted Average Exercise Price | $1.34 | $1.40 |
Options exercisable-Weighted Average Exercise Price | $1.40 | ' |
Weighted-average fair value of options granted during: | ' | ' |
Weighted-average fair value of options granted | $0.67 | $0.72 |
Stock_Option_Plans_Details_1
Stock Option Plans (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Plan 1995 [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Options Outstanding, Number | 61 | ' | ' |
Options Outstanding, Weighted-Average Remaining Contractual Life | '1 year 2 months 12 days | ' | ' |
Options Outstanding, Weighted-Average Exercise Price | $3.84 | $3.84 | $3.84 |
Options Exercisable, Number | 61 | ' | ' |
Options Exercisable, Weighted-Average Exercise Price | $3.84 | ' | ' |
Exercise Price Range, Lower Range Limit | $3.84 | ' | ' |
Plan 1996 [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Options Outstanding, Number | 20 | ' | ' |
Options Outstanding, Weighted-Average Remaining Contractual Life | '10 months 24 days | ' | ' |
Options Outstanding, Weighted-Average Exercise Price | $3.48 | $3 | $3.10 |
Options Exercisable, Number | 20 | ' | ' |
Options Exercisable, Weighted-Average Exercise Price | $3.48 | ' | ' |
Exercise Price Range, Lower Range Limit | $2.05 | ' | ' |
Exercise Price Range, Upper Range Limit | $3.85 | ' | ' |
Employee Plan 2005 [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Options Outstanding, Number | 1,482 | ' | ' |
Options Outstanding, Weighted-Average Remaining Contractual Life | '5 years 9 months 18 days | ' | ' |
Options Outstanding, Weighted-Average Exercise Price | $1.56 | $1.67 | $1.86 |
Options Exercisable, Number | 926 | ' | ' |
Options Exercisable, Weighted-Average Exercise Price | $1.81 | ' | ' |
Exercise Price Range, Lower Range Limit | $0.76 | ' | ' |
Exercise Price Range, Upper Range Limit | $3.84 | ' | ' |
Director Plan 2005 [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Options Outstanding, Number | 299 | ' | ' |
Options Outstanding, Weighted-Average Remaining Contractual Life | '6 years 6 months | ' | ' |
Options Outstanding, Weighted-Average Exercise Price | $1.34 | $1.40 | $1.51 |
Options Exercisable, Number | 249 | ' | ' |
Options Exercisable, Weighted-Average Exercise Price | $1.40 | ' | ' |
Exercise Price Range, Lower Range Limit | $0.76 | ' | ' |
Exercise Price Range, Upper Range Limit | $1.98 | ' | ' |
Stock_Option_Plans_Details_Tex
Stock Option Plans (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | Warrant [Member] | Plan 1995 [Member] | Plan 1996 [Member] | Employee Plan 2005 [Member] | Director Plan 2005 [Member] | Amended 1996 Plan [Member] | May 2007 Amended Employee Plan [Member] | May 2010 Amended Employee Plan [Member] | May 2010 Amended Director Plan [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | 200 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | ' | ' | ' | 100 | ' | 500 | 200 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Description | ' | ' | ' | 'With respect to any optionee who owns stock representing more than 10% of the voting power of all classes of the Companys outstanding capital stock, the exercise price of any incentive stock option must be equal to at least 110% of the fair market value of the Common Stock on the date of grant, and the term of the option may not exceed five years. | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | ' | ' | 1,150 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | ' | ' | ' | 30-Nov-05 | ' | ' | ' | 2-Jan-06 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | 1,100 | 1,600 | 400 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 219 | 501 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | 8,465 | 8,465 | 100 | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting Period Of Warrant Description | ' | ' | 'the warrant vested one-third (1/3) on May 23, 2013 and vests another one-third (1/3) on each of May 23, 2014 and 2015. | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable-Weighted Average Exercise Price | ' | ' | $1.09 | $3.84 | $3.48 | $1.81 | $1.40 | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Fair Value | ' | ' | ' | $100 | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Current: | ' | ' |
Federal | ($9) | ' |
State and local | 87 | 24 |
Current Income Tax Expense (Benefit) | 78 | 24 |
Deferred: | ' | ' |
Federal | -936 | -699 |
State and local | -368 | -342 |
Deferred Income Tax Expense (Benefit) | -1,304 | -1,041 |
Valuation allowance | 1,226 | 3,349 |
Provision (benefit) for income taxes | $0 | $2,332 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Holiday [Line Items] | ' | ' |
Provision (benefit) for Federal income taxes at the statutory rate | ($959) | ($961) |
State and local income taxes, net of Federal benefit | -153 | -139 |
Permanent differences: | ' | ' |
Stock compensation | 92 | 88 |
Other | 24 | 21 |
Net operating loss true up | 0 | -162 |
Change in valuation allowance | 1,226 | 3,349 |
Other | -230 | 136 |
Provision (benefit) for income taxes | $0 | $2,332 |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for doubtful accounts | $79 | $83 |
Inventories | 1,478 | 1,176 |
Intangible | 97 | 137 |
Net operating loss carry forward | 7,645 | 6,683 |
Other | 85 | 85 |
Total deferred tax assets | 9,384 | 8,164 |
Deferred tax liabilities: | ' | ' |
Depreciation | -58 | -64 |
Indefinite life intangibles | -63 | -30 |
Total deferred tax liabilities | -121 | -94 |
Deferred Tax Assets, Net | 9,263 | 8,070 |
Valuation allowance | -9,326 | -8,100 |
Net | ($63) | ($30) |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Holiday [Line Items] | ' | ' |
Valuation allowance | $1,226 | $3,349 |
Federal [Member] | ' | ' |
Income Tax Holiday [Line Items] | ' | ' |
Tax benefit for utilization of fully reserved net operating losses | 19,671 | ' |
Operating Loss Carry forwards Expiration Date1 | '2023 | ' |
State and Local Jurisdiction [Member] | ' | ' |
Income Tax Holiday [Line Items] | ' | ' |
Tax benefit for utilization of fully reserved net operating losses | $15,495 | ' |
Operating Loss Carry forwards Expiration Date1 | '2023 | ' |