Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 15, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | BLONDER TONGUE LABORATORIES INC | ||
Entity Central Index Key | 1,000,683 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 3,499,802 | ||
Trading Symbol | BDR | ||
Entity Common Stock, Shares Outstanding | 8,121,835 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash | $ 468 | $ 9 |
Accounts receivable, net of allowance for doubtful accounts of $180 and $239 | 2,273 | 2,432 |
Inventories | 5,064 | 5,595 |
Prepaid and other current assets | 275 | 277 |
Total current assets | 8,080 | 8,313 |
Inventories, net non-current | 991 | 1,444 |
Property, plant and equipment, net of accumulated depreciation and amortization | 3,279 | 3,621 |
License agreements, net | 117 | 458 |
Intangible assets, net | 1,612 | 1,784 |
Goodwill | 493 | 493 |
Other assets, net | 428 | 117 |
Total Assets | 15,000 | 16,230 |
Current liabilities: | ||
Line of credit | 2,120 | 2,664 |
Current portion of long-term debt | 228 | 3,604 |
Accounts payable | 1,390 | 1,387 |
Derivative liability | 260 | 0 |
Accrued compensation | 320 | 388 |
Accrued benefit pension liability | 101 | 54 |
Income taxes payable | 15 | 6 |
Other accrued expenses | 182 | 519 |
Total current liabilities | 4,616 | 8,622 |
Subordinated convertible debt with related parties | 376 | 100 |
Long-term debt | 3,335 | 10 |
Deferred income taxes | 139 | 129 |
Commitments and contingencies | ||
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, 8,122 and 6,766 shares outstanding | 8 | 8 |
Paid-in capital | 26,132 | 26,361 |
Accumulated deficit | (17,179) | (12,198) |
Accumulated other comprehensive loss | (1,278) | (1,168) |
Treasury stock, at cost, 342 and 1,699 shares | (1,149) | (5,634) |
Total stockholders’ equity | 6,534 | 7,369 |
Total Liabilities and Stockholders' Equity | $ 15,000 | $ 16,230 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts (in dollars) | $ 180 | $ 239 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000 | 5,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 25,000 | 25,000 |
Common stock, shares issued | 8,465 | 8,465 |
Common Stock, Shares, Outstanding | 8,122 | 6,766 |
Treasury stock, shares | 342 | 1,699 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Net sales | $ 22,506 | $ 20,943 |
Cost of goods sold | 14,149 | 16,788 |
Gross profit | 8,357 | 4,155 |
Operating expenses: | ||
Selling expenses | 2,459 | 3,072 |
General and administrative | 3,828 | 4,152 |
Research and development | 2,741 | 3,331 |
Total Operating expenses | 9,028 | 10,555 |
Loss from operations | (671) | (6,400) |
Other expense: | ||
Interest expense, net | (412) | (325) |
Change in derivative liability | (83) | 0 |
Interest Income (Expense), Nonoperating, Net | (495) | (325) |
Loss before income taxes | (1,166) | (6,725) |
Provision for income taxes | 29 | 46 |
Net loss | $ (1,195) | $ (6,771) |
Net loss per share, basic and diluted (in dollars per share) | $ (0.16) | $ (1.05) |
Weighted average shares outstanding, basic and diluted (in shares) | 7,413 | 6,464 |
Net loss | $ (1,195) | $ (6,771) |
Changes in accumulated unrealized pension losses, net of taxes | (110) | 186 |
Comprehensive loss | $ (1,305) | $ (6,585) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2014 | $ 13,738 | $ 8 | $ 26,435 | $ (4,096) | $ (1,354) | $ (7,255) |
Balance (in shares) at Dec. 31, 2014 | 8,465 | |||||
Net loss | (6,771) | $ 0 | 0 | (6,771) | 0 | 0 |
Recognized pension loss, net of taxes | (186) | 0 | 0 | 0 | 186 | 0 |
Issuance of restricted stock awards for treasury stock | 0 | 0 | (290) | (1,331) | 0 | 1,621 |
Stock-based Compensation | 216 | 0 | 216 | 0 | 0 | 0 |
Balance at Dec. 31, 2015 | 7,369 | $ 8 | 26,361 | (12,198) | (1,168) | (5,634) |
Balance (in shares) at Dec. 31, 2015 | 8,465 | |||||
Net loss | (1,195) | $ 0 | 0 | (1,195) | 0 | 0 |
Recognized pension loss, net of taxes | 110 | 0 | 0 | 0 | (110) | 0 |
Issuance of restricted stock awards for treasury stock | 0 | 0 | (438) | (1,936) | 0 | 2,374 |
Issuance of stock awards for treasury stock, 653 shares | 0 | (261) | (1,850) | 2,111 | ||
Director' fees | 261 | 261 | ||||
Stock-based Compensation | 209 | 0 | 209 | 0 | 0 | 0 |
Balance at Dec. 31, 2016 | $ 6,534 | $ 8 | $ 26,132 | $ (17,179) | $ (1,278) | $ (1,149) |
Balance (in shares) at Dec. 31, 2016 | 8,465 |
CONSOLIDATED STATEMENTS OF STO6
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - Restricted Stock [Member] - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Issuance of restricted stock awards for treasury stock, Number of shares | 705 | 502 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | 653 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (1,195) | $ (6,771) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||
Depreciation | 440 | 490 |
Amortization | 532 | 818 |
Stock-based compensation expense | 209 | 216 |
Provision for inventory reserves | 128 | 2,053 |
Provision for doubtful accounts | 0 | 65 |
Non cash pension income | (63) | (20) |
Deferred income taxes | 10 | 34 |
Non cash interest expense | 53 | 0 |
Equity based directors’ fees | 261 | 0 |
Change in derivative liability | 83 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 159 | (72) |
Inventories | 856 | 1,793 |
Prepaid and other current assets | 2 | 374 |
Other assets | (311) | (89) |
Income taxes payable | 9 | (18) |
Accounts payable, accrued expenses and accrued compensation | (402) | 329 |
Net cash provided by (used in) operating activities | 771 | (798) |
Cash Flows From Investing Activities: | ||
Capital expenditures | (37) | (188) |
Acquisition of licenses | (19) | (453) |
Net cash used in investing activities | (56) | (641) |
Cash Flows From Financing Activities: | ||
Net borrowings (repayment) on line of credit | (544) | 1,395 |
Repayments of debt | (3,612) | (279) |
Borrowings of debt | 3,500 | 0 |
Borrowings from related parties | 400 | 100 |
Net cash provided by (used in) financing activities | (256) | 1,216 |
Net increase (decrease) in cash | 459 | (223) |
Cash, beginning of year | 9 | 232 |
Cash, end of year | 468 | 9 |
Supplemental Cash Flow Information: | ||
Cash paid for interest | 375 | 297 |
Cash paid for income taxes | 0 | 0 |
Non cash investing and financing activities: | ||
Capital expenditures financed by notes payable | $ 61 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Summary of Significant Accounting Policies The Company and Basis of Consolidation Blonder Tongue Laboratories, Inc. (together with its consolidated subsidiaries, the “ Company 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, 2016 and 2015. Cash balances at financial institutions are insured by the Federal Deposit Insurance Corporation (“ FDIC (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 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 and excess 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 5 5 7 6 10 10 15 40 (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 Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations. Accounting principles generally accepted in the United States (“ GAAP 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, 2016. Based upon its qualitative assessment 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. Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 671 $ 694 Proprietary technology 349 172 177 Non-compete agreements 248 248 - Amortized intangible assets 1,962 1,091 871 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 1,091 $ 1,612 The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2015 are as follows: Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 535 $ 830 Proprietary technology 349 136 213 Non-compete agreements 248 248 - Amortized intangible assets 1,962 919 1,043 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 919 $ 1,784 Amortization is computed utilizing the straight-line method over the estimated useful lives of 171 178 171 (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 2016 and 2015, respectively. 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, 2016 and 2015, respectively. The Company does not hold or issue financial instruments for trading purposes. (i) Embedded Derivative Liability The Company accounts for the derivative liability embedded in subordinated convertible debt with related parties in accordance with the provisions of ASC Topic 815 “Derivatives and Hedging”. Based upon the provisions of ASC Topic 815, an embedded derivative shall be separated from the host contract and accounted for as a derivative instrument if all of the following criteria are met: (i) The economic characteristics and risks of the embedded derivative are not clearly and closely related to the economic characteristics and risks of the host contract. (ii)The hybrid instrument is not measured at fair value under otherwise applicable GAAP with changes in fair value reported in earnings as they occur. (iii) A separate instrument with the same terms as the embedded derivative would, pursuant to Section 815-10-15, be a derivative instrument subject to the requirements of this Subtopic. Treasury Stock Treasury Stock is recorded at cost. Gains and losses on subsequent reissuance are recorded as increases or decreases to additional paid-in capital with losses in excess of previously recorded gains charged directly to retained earnings. During 2016 and 2015, 1,358 502 (k) Significant Risks and Uncertainties The preparation of financial statements in conformity with GAAP 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, 2016, approximately 29 The Company’s analog video headend products accounted for approximately 10 17 52 46 (l ) 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 $ 150 107 December 31, 2016 2015 License agreements $ 5,923 $ 5,904 Accumulated amortization (5,806) (5,446) $ 117 $ 458 Amortization of license fees is computed utilizing the straight-line method over the estimated useful life of 1 to 2 years. Amortization expense for license fees was $ 361 640 117 (m) 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, 2016 and 2015 and cumulative translation gains and losses as of December 31, 2016 and 2015 were not material. Research and Development Research and development expenditures for the Company’s projects are expensed as incurred. R evenue 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 (p) Share Based Payments The Company accounts for share based payments in accordance with ASC Topic 718 “Compensation Stock Payments” (“ ASC Topic 718 221 216 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 6.5 51 51 (q) Income Taxes The Company accounts for income taxes under the provisions of the Financial Accounting Standards Board (“ FASB ASC Topic 740 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 (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 1,670 1,878 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 The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation , other than the items disclosed in Note 16 (u) Recent Accounting Pronouncements In March 2017, the Financial Accounting Standard Board (the “ FASB ASU ASU 2017-07 Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In November 2016, the FASB issued Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments Accounting Standards Codification Statement of Cash Flows In March, 2016, the FASB issued Accounting Standards Update ASU 2016-09, Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued Accounting Standards Update (ASU) 2016-17, Investment-Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March, 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In January 2016, the FASB issued ASU 2016-01 (“ ASU 2016-01 Financial InstrumentsOverall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory: Topic 330 (“ ASU 2015-11” In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606). Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients |
Liquidity and Financial Conditi
Liquidity and Financial Condition | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | Note 2 Liquidity and Financial Condition Prior to 2016, the Company significant did not have the necessary financing arrangements in place to support its capital resource needs. These factors contributed to the Company’s substantial doubt of its which were set forth in its Form 10-K for the fiscal year ended December 31,2015 and. in subsequent quarterly reports on Form 10-Q prior to consummation of the Sterling Facility. management has addressed going concern remediation through entering ). 9,028 10,555 Net losses were reduced dramatically and cash , 771 (798) 3,464 As a result of continued improvements in Company’s liquidity, capital resources , the Company believes, it has the ability to sustain its operations and satisfy its obligations in the normal course of business, and therefore the conditions about substantial doubt have been determined to be alleviated |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 3 Inventories December 31, 2016 2015 Raw materials $ 4,001 $ 4,820 Work in process 1,860 1,732 Finished goods 4,143 4,913 10,004 11,465 Less current inventory (5,064) (5,595) 4,940 5,870 Less reserve for slow moving and excess inventory (3,949) (4,426) $ 991 $ 1,444 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 4 Property, Plant and Equipment December 31, 2016 2015 Land $ 1,000 $ 1,000 Building 3,361 3,361 Machinery and equipment 10,461 10,443 Furniture and fixtures 432 432 Office equipment 2,377 2,304 Building improvements 1,421 1,414 19,052 18,954 Less: Accumulated depreciation and amortization (15,773) (15,333) $ 3,279 $ 3,621 Depreciation expense amounted to approximately $ 440 490 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 5 Debt On December 28, 2016, the Company entered into a Loan and Security Agreement (the “ Sterling Agreement 8,500 Sterling Facility 5,000 Revolver 3,500 Term Loan Interest on the Revolver is variable, based upon the 30-day LIBOR rate (currently 0.76% at December 31, 2016) 4.00 Interest on the Term Loan also is variable, based upon the 30-day LIBOR rate (currently 0.76% at December 31, 2016) 19 2,120 3,500 The Sterling Agreement contains customary covenants, including restrictions on the incurrence of additional indebtedness, encumbrances on Borrower’s assets, the payment of cash dividends or similar distributions, the repayment of any subordinated indebtedness and the sale or other disposition of Borrower’s assets. In addition, the Company must maintain (i) a fixed charge coverage ratio of not less than 1.1 to 1.0 for any fiscal month (determined as of the last day of each fiscal month on a rolling twelve-month basis, as calculated for the Company and its consolidated subsidiaries) and (ii) a leverage ratio of not more than 2.0 to 1.0 for any fiscal month A portion of the proceeds received by the Company under the Sterling Agreement has been used to repay all amounts outstanding under the Company’s existing Revolving Credit, Term Loan and Security Agreement with Santander Bank, N.A. (as amended, the “ Santander Agreement The Company had a Revolving Credit, Term Loan and Security Agreement with Santander Bank, N.A. (“ Santander 8,000 facility from Santander (the “ Santander Financing Santander Agreement 6,900 3,500 revolving credit facility (“ Revolver 3,400 loan facility (“ Term Loan subsidiaries. December 31, 2016 2015 Term loan $ 3,500 $ 3,567 Capital leases (Note 7) 63 47 3,563 3,614 Less: Current portion (228) (3,604) $ 3,335 $ 10 Annual maturities of long term debt at December 31, 2016 are $ 228 249 3,065 12 9 |
Subordinated Convertible Debt w
Subordinated Convertible Debt with Related Parties | 12 Months Ended |
Dec. 31, 2016 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | Note 6 Subordinated Convertible Debt with Related Parties On March 28, 2016, the Company and its wholly-owned subsidiary, R.L. Drake Holdings, LLC ( “Drake” Agent Subordinated Lenders Subordinated Loan Agreement 750 Subordinated Loan Facility 50 PIK Interest 0.54 Subordinated Mortgage” In connection with the Subordinated Loan Agreement, the Company, Drake, the Subordinated Lenders and Sterling entered into a Subordination Agreement (the “ Subordination Agreement As of December 31, 2016, the Subordinated Lenders advanced $ 500 53 Derivatives and Hedging 260 0.47 0.38 0.54 0.54 104 91 2.5 3 1.27 0.87 0 0 included in the statement of operations 83 The Subordinated Loan Agreement amended and restated a prior agreement entered into on February 11, 2016 between the Company and Drake, as borrowers and Robert J. Pallé and Carol M. Pallé, as lenders (the “ Prior ubordinated Loan Agreement 600 300 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 7 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 October, 2021. Capital Operating 2017 $ 19 $ 144 2018 16 126 2019 15 94 2020 15 66 2021 10 43 Thereafter - - Total future minimum lease payments 75 $ 473 Less: amounts representing interest (12) Present value of minimum lease payments $ 63 Property, plant and equipment included capitalized leases of $ 373 307 225 225 Rent expense was $ 206 146 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. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Note 8 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 $ 151 190 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 defined benefit pension plan is closed to new entrants and existing participants do not accrue any additional benefits. The Company complies with minimum funding requirements. The total credit for this plan was $63 in 2016 and $20 in 2015, respectively. The Company recognizes the funded status of its defined benefit pension plan measured as the difference between the fair value of the plan assets and the projected benefit obligation, in the Consolidated Balance Sheets. As of December 31, 2016 and 2015, the funded status related to the defined benefit pension plan was underfunded by $ 101 54 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 9 Related Party Transactions On March 28, 2016, the Company’s current Chief Executive Officer and his wife, together with two of the Company’s independent directors, as lenders, and the Company and Drake, as borrowers, entered into the Subordinated Loan Agreement (which superseded and replaced the Prior Subordinated Loan Agreement), pursuant to which they agreed to provide the Company with the Subordinated Loan Facility in an amount up to $ 750 On February 11, 2016, the Company’s current Chief Executive Officer and his wife, as lenders, and the Company and Drake, as borrowers, entered into the Prior Subordinated Loan Agreement, pursuant to which they agreed to provide the Company with a subordinated loan facility of up to $ 600 |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 10 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. Credit risk with respect to trade accounts receivable was concentrated with three and two of the Company’s customers in 2016 and 2015, respectively. These customers accounted for approximately 41 The Company’s largest customer accounted for approximately 17 10 19 15 12 18 10 10 23 3 |
Stock Repurchase Program
Stock Repurchase Program | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 11 Stock Repurchase Program On July 24, 2002, the Company commenced a stock repurchase program to acquire up to $ 300 2002 Program 100 2007 Program 72 100 |
Executive Stock Purchase Plan
Executive Stock Purchase Plan | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Shareholders' Equity and Share-based Payments [Text Block] | Note 12 Executive Stock Purchase Plan On June 16, 2014, the Company’s Board of Directors adopted the Executive Stock Purchase Plan (the “ Plan 250 13 |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Preferred Stock [Text Block] | Note 13 Preferred Stock The Company is authorized to issue 5,000 |
Stock Option Plans
Stock Option Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 14 Stock Option Plans In May 2016, the stockholders of the Company approved the 2016 Employee Equity Incentive Plan (the “ 2016 Employee Plan Committee 1,000 In May 2005, the stockholders of the Company approved the 2005 Employee Equity Incentive Plan (the “ Employee Plan Committee 500 1,100 1,600 February 7, 2024 2,600 In May 2016, the stockholders of the Company approved the 2016 Director Equity Incentive Plan (the “ 2016 Director Plan Board 400 In May 2005, the stockholders of the Company approved the 2005 Director Equity Incentive Plan (the “ Director Plan Board 200 400 February 7, 2024 600 Weighted- Weighted- 2005 Average 2005 Average Employee Exercise Director Exercise Plan (#) Price ($) Plan (#) Price ($) Shares under option: Options outstanding at January 1, 2015 1,690 $ 1.70 349 $ 1.27 Granted 250 0.40 59 0.95 Exercised - - - - Forfeited (476) 1.20 - - Options outstanding at December 31, 2015 1,464 $ 1.33 408 $ 1.22 Granted 100 0.62 - - Exercised - - - - Forfeited (93) 1.73 (20) 1.91 Options outstanding at December 31, 2016 1,471 $ 1.08 388 $ 1.19 Options exercisable at December 31, 2016 937 $ 1.25 388 $ 1.19 Weighted-average fair value of options granted during: 2016 $ 0.01 - 2015 $ 0.02 $ 0.02 1,714 852 Options Outstanding Options Exercisable Range of Exercise Number of Weighted- Weighted- Number Weighted- 2005 Employee Plan: 1,471 6.0 $ 1.07 1,187 $ 1.07 2005 Director Plan: 388 4.9 $ 1.19 388 $ 1.19 The exercisable options under each of the Plans at December 31, 2016 had an intrinsic value of zero. December 31, 2016 December 31, 2015 Weighted- Weighted- Average Average Grant Grant Date Number of Date Fair Value Number of Fair Value shares per Share shares per Share Non-vested, beginning of period 322 $ 0.68 - $ - Granted 705 0.62 502 0.58 Vested 128 0.70 180 0.40 Non-vested, end of period 899 $ 0.68 322 $ 0.68 In August 2012, the Company issued a warrant to purchase 100 AMW 1.09 For the Years Ended December 31, 2016 2015 Stock options $ 69 $ 100 Restricted stock awards 140 116 Total $ 209 $ 216 Stock based compensation expense was reflected within the statements of operations as: For the Years Ended December 31, 2016 2015 Cost of goods sold $ 31 $ 34 Selling expenses 30 81 General and administrative 113 67 Research and development 35 34 Total $ 209 $ 216 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 15 Income Taxes for the years ended December 31, 2016 and 2015 2016 2015 Current: Federal $ - $ - State and local 19 12 19 12 Deferred: Federal (332) (2,023) State and local 1,004 (288) 672 (2,311) Valuation allowance (662) 2,345 Provision for income taxes $ 29 $ 46 for the years ended December 31, 2016 and 2015 2016 2015 Provision (benefit) for Federal income taxes at the statutory rate $ (396) $ (2,286) State and local income taxes, net of Federal benefit 12 (379) Permanent differences: Stock compensation - 73 Other 66 23 Deferred tax asset true-up 1,007 - Change in valuation allowance (662) 2,345 Other 2 270 Provision for income taxes $ 29 $ 46 December 31, 2016 2015 Deferred tax assets: Allowance for doubtful accounts $ 62 $ 95 Inventories 1,673 2,161 Intangible 154 162 Share based compensation 68 - Net operating loss carry forward 9,032 9,227 Other 2 2 Total deferred tax assets 10,991 11,647 Deferred tax liabilities: Depreciation (77) (91) Intangible (7) (8) Pension liability (22) - Indefinite life intangibles (139) (129) Total deferred tax liabilities (245) (228) 10,746 11,419 Valuation allowance (10,885) (11,548) Net $ (139) $ (129) For the years ended December 31, 2016, the Company had approximately $ 26,451 13,767 NOL 2022 The change in the valuation allowance for the years ended December 31, 2016 and December 31, 2015 was $ (662) 2,345 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, 2016, 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 2016 and no liabilities for uncertain tax positions as of December 31, 2016. 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, 2016 and 2015. 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, 2013. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 16 Subsequent Events On March 30, 2017, the Company entered into the First Amendment to the Loan and Security Agreement (the “ Amendment Sterling 15 On March 21, 2017, the Company and its wholly-owned subsidiary, R.L. Drake Holdings, LLC ( “Drake” Agent Subordinated Lenders Amendmen Subordinated Loan Agreement |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The Company and Basis of Consolidation Blonder Tongue Laboratories, Inc. (together with its consolidated subsidiaries, the “ Company |
Cash and Cash Equivalents, Policy [Policy Text Block] | 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, 2016 and 2015. Cash balances at financial institutions are insured by the Federal Deposit Insurance Corporation (“ FDIC |
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 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 and excess 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 5 5 7 6 10 10 15 40 |
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 Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations. Accounting principles generally accepted in the United States (“ GAAP 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, 2016. Based upon its qualitative assessment 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. Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 671 $ 694 Proprietary technology 349 172 177 Non-compete agreements 248 248 - Amortized intangible assets 1,962 1,091 871 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 1,091 $ 1,612 The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2015 are as follows: Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 535 $ 830 Proprietary technology 349 136 213 Non-compete agreements 248 248 - Amortized intangible assets 1,962 919 1,043 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 919 $ 1,784 Amortization is computed utilizing the straight-line method over the estimated useful lives of 171 178 171 |
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 2016 and 2015, respectively. |
Derivatives, Reporting of Derivative Activity [Policy Text Block] | 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, 2016 and 2015, respectively. The Company does not hold or issue financial instruments for trading purposes. |
Derivatives, Embedded Derivatives [Policy Text Block] | (i) Embedded Derivative Liability The Company accounts for the derivative liability embedded in subordinated convertible debt with related parties in accordance with the provisions of ASC Topic 815 “Derivatives and Hedging”. Based upon the provisions of ASC Topic 815, an embedded derivative shall be separated from the host contract and accounted for as a derivative instrument if all of the following criteria are met: (i) The economic characteristics and risks of the embedded derivative are not clearly and closely related to the economic characteristics and risks of the host contract. (ii)The hybrid instrument is not measured at fair value under otherwise applicable GAAP with changes in fair value reported in earnings as they occur. (iii) A separate instrument with the same terms as the embedded derivative would, pursuant to Section 815-10-15, be a derivative instrument subject to the requirements of this Subtopic. |
Treasury Stock, Policy [Policy Text Block] | Treasury Stock Treasury Stock is recorded at cost. Gains and losses on subsequent reissuance are recorded as increases or decreases to additional paid-in capital with losses in excess of previously recorded gains charged directly to retained earnings. During 2016 and 2015, 1,358 502 |
Risk and Uncertainty Policy [Text Block] | (k) Significant Risks and Uncertainties The preparation of financial statements in conformity with GAAP 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, 2016, approximately 29 The Company’s analog video headend products accounted for approximately 10 17 52 46 |
Revenue Recognition, Services, Royalty Fees [Policy Text Block] | (l ) 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 $ 150 107 December 31, 2016 2015 License agreements $ 5,923 $ 5,904 Accumulated amortization (5,806) (5,446) $ 117 $ 458 Amortization of license fees is computed utilizing the straight-line method over the estimated useful life of 1 to 2 years. Amortization expense for license fees was $ 361 640 117 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | (m) 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, 2016 and 2015 and cumulative translation gains and losses as of December 31, 2016 and 2015 were not material. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development expenditures for the Company’s projects are expensed as incurred. |
Revenue Recognition, Policy [Policy Text Block] | R evenue 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 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | (p) Share Based Payments The Company accounts for share based payments in accordance with ASC Topic 718 “Compensation Stock Payments” (“ ASC Topic 718 221 216 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 6.5 51 51 |
Income Tax, Policy [Policy Text Block] | (q) Income Taxes The Company accounts for income taxes under the provisions of the Financial Accounting Standards Board (“ FASB ASC Topic 740 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] | 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 1,670 1,878 |
Comprehensive Income, Policy [Policy Text Block] | 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] | 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 , other than the items disclosed in Note 16 |
New Accounting Pronouncements, Policy [Policy Text Block] | (u) Recent Accounting Pronouncements In March 2017, the Financial Accounting Standard Board (the “ FASB ASU ASU 2017-07 Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit The Company is currently evaluating the impact of this accounting standard on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In November 2016, the FASB issued Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments Accounting Standards Codification Statement of Cash Flows In March, 2016, the FASB issued Accounting Standards Update ASU 2016-09, Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued Accounting Standards Update (ASU) 2016-17, Investment-Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March, 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In January 2016, the FASB issued ASU 2016-01 (“ ASU 2016-01 Financial InstrumentsOverall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory: Topic 330 (“ ASU 2015-11” In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606). Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients |
Summary of Significant Accoun25
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 are as follows: Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 671 $ 694 Proprietary technology 349 172 177 Non-compete agreements 248 248 - Amortized intangible assets 1,962 1,091 871 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 1,091 $ 1,612 The components of intangible assets that are carried at cost less accumulated amortization at December 31, 2015 are as follows: Accumulated Description Cost Amortization Net Amount Customer relationships $ 1,365 $ 535 $ 830 Proprietary technology 349 136 213 Non-compete agreements 248 248 - Amortized intangible assets 1,962 919 1,043 Non-Amortized Trade name 741 - 741 Total $ 2,703 $ 919 $ 1,784 |
Schedule of finite Lived License Agreement [Table Text Block] | The components of intangible assets consisting of license agreements that are carried at cost less accumulated amortization are as follows: December 31, 2016 2015 License agreements $ 5,923 $ 5,904 Accumulated amortization (5,806) (5,446) $ 117 $ 458 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories, net of reserves, are summarized as follows: December 31, 2016 2015 Raw materials $ 4,001 $ 4,820 Work in process 1,860 1,732 Finished goods 4,143 4,913 10,004 11,465 Less current inventory (5,064) (5,595) 4,940 5,870 Less reserve for slow moving and excess inventory (3,949) (4,426) $ 991 $ 1,444 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment are summarized as follows: December 31, 2016 2015 Land $ 1,000 $ 1,000 Building 3,361 3,361 Machinery and equipment 10,461 10,443 Furniture and fixtures 432 432 Office equipment 2,377 2,304 Building improvements 1,421 1,414 19,052 18,954 Less: Accumulated depreciation and amortization (15,773) (15,333) $ 3,279 $ 3,621 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | Long-term debt consists of the following: December 31, 2016 2015 Term loan $ 3,500 $ 3,567 Capital leases (Note 7) 63 47 3,563 3,614 Less: Current portion (228) (3,604) $ 3,335 $ 10 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 2017 $ 19 $ 144 2018 16 126 2019 15 94 2020 15 66 2021 10 43 Thereafter - - Total future minimum lease payments 75 $ 473 Less: amounts representing interest (12) Present value of minimum lease payments $ 63 |
Stock Option Plans (Tables)
Stock Option Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 and 2015: Weighted- Weighted- 2005 Average 2005 Average Employee Exercise Director Exercise Plan (#) Price ($) Plan (#) Price ($) Shares under option: Options outstanding at January 1, 2015 1,690 $ 1.70 349 $ 1.27 Granted 250 0.40 59 0.95 Exercised - - - - Forfeited (476) 1.20 - - Options outstanding at December 31, 2015 1,464 $ 1.33 408 $ 1.22 Granted 100 0.62 - - Exercised - - - - Forfeited (93) 1.73 (20) 1.91 Options outstanding at December 31, 2016 1,471 $ 1.08 388 $ 1.19 Options exercisable at December 31, 2016 937 $ 1.25 388 $ 1.19 Weighted-average fair value of options granted during: 2016 $ 0.01 - 2015 $ 0.02 $ 0.02 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Total options available for grant under all Plans were 1,714 852 Options Outstanding Options Exercisable Range of Exercise Number of Weighted- Weighted- Number Weighted- 2005 Employee Plan: 1,471 6.0 $ 1.07 1,187 $ 1.07 2005 Director Plan: 388 4.9 $ 1.19 388 $ 1.19 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Restricted stock issued to employees and directors during the years ended December 31, 2016 and 2015, respectively is as follows: December 31, 2016 December 31, 2015 Weighted- Weighted- Average Average Grant Grant Date Number of Date Fair Value Number of Fair Value shares per Share shares per Share Non-vested, beginning of period 322 $ 0.68 - $ - Granted 705 0.62 502 0.58 Vested 128 0.70 180 0.40 Non-vested, end of period 899 $ 0.68 322 $ 0.68 |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | The following tables summarize total stock-based compensation costs recognized for the years ended December 31, 2016 and 2015: For the Years Ended December 31, 2016 2015 Stock options $ 69 $ 100 Restricted stock awards 140 116 Total $ 209 $ 216 Stock based compensation expense was reflected within the statements of operations as: For the Years Ended December 31, 2016 2015 Cost of goods sold $ 31 $ 34 Selling expenses 30 81 General and administrative 113 67 Research and development 35 34 Total $ 209 $ 216 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | for the years ended December 31, 2016 and 2015 2016 2015 Current: Federal $ - $ - State and local 19 12 19 12 Deferred: Federal (332) (2,023) State and local 1,004 (288) 672 (2,311) Valuation allowance (662) 2,345 Provision for income taxes $ 29 $ 46 |
Schedule Of Components Of Income Tax Expense Benefit Domestic and Foreign [Table Text Block] | for the years ended December 31, 2016 and 2015 2016 2015 Provision (benefit) for Federal income taxes at the statutory rate $ (396) $ (2,286) State and local income taxes, net of Federal benefit 12 (379) Permanent differences: Stock compensation - 73 Other 66 23 Deferred tax asset true-up 1,007 - Change in valuation allowance (662) 2,345 Other 2 270 Provision for income taxes $ 29 $ 46 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2016 2015 Deferred tax assets: Allowance for doubtful accounts $ 62 $ 95 Inventories 1,673 2,161 Intangible 154 162 Share based compensation 68 - Net operating loss carry forward 9,032 9,227 Other 2 2 Total deferred tax assets 10,991 11,647 Deferred tax liabilities: Depreciation (77) (91) Intangible (7) (8) Pension liability (22) - Indefinite life intangibles (139) (129) Total deferred tax liabilities (245) (228) 10,746 11,419 Valuation allowance (10,885) (11,548) Net $ (139) $ (129) |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Summary of Significant Accounting Policies [Line Items] | ||
Cost | $ 2,703 | $ 2,703 |
Accumulated Amortization | 1,091 | 919 |
Net Amount | 1,612 | 1,784 |
Customer Relationships [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Cost | 1,365 | 1,365 |
Accumulated Amortization | 671 | 535 |
Net Amount | 694 | 830 |
Proprietary Technology [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Cost | 349 | 349 |
Accumulated Amortization | 172 | 136 |
Net Amount | 177 | 213 |
Noncompete Agreements [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Cost | 248 | 248 |
Accumulated Amortization | 248 | 248 |
Net Amount | 0 | 0 |
Amortized Intangible Assets [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Cost | 1,962 | 1,962 |
Accumulated Amortization | 1,091 | 919 |
Net Amount | 871 | 1,043 |
Non Amortized Trade Name [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Cost | 741 | 741 |
Accumulated Amortization | 0 | 0 |
Net Amount | $ 741 | $ 741 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Details1) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Summary of Significant Accounting Policies [Line Items] | ||
License agreements | $ 5,923 | $ 5,904 |
Accumulated amortization | (5,806) | (5,446) |
License Agreements, Net | $ 117 | $ 458 |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Summary of Significant Accounting Policies [Line Items] | ||
Amortization of Intangible Assets | $ 171 | $ 178 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 171 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 171 | |
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 | 29.00% | |
Royalty Expense | $ 150 | $ 107 |
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 | 51.00% | 51.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.74% | 0.25% |
Incremental Common Shares Attributable to Call Options and Warrants | 1,670 | 1,878 |
Amortization | $ 532 | $ 818 |
Stock Issued During Period, Shares, Treasury Stock Reissued | 1,358 | 502 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 216 | $ 221 |
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, Percentage | 10.00% | 17.00% |
Digital Video Headend Products [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Concentration Risk, Percentage | 52.00% | 46.00% |
Minimum [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Finite-Lived Intangible Assets, Amortization Method | 1 years | |
Maximum [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Finite-Lived Intangible Assets, Amortization Method | 2 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 | $ 117 | |
Amortization | $ 361 | $ 640 |
Liquidity and Financial Condi35
Liquidity and Financial Condition (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Expenses | $ 9,028 | $ 10,555 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total | 771 | $ (798) |
Working Capital | $ 3,464 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory [Line Items] | ||
Raw materials | $ 4,001 | $ 4,820 |
Work in process | 1,860 | 1,732 |
Finished goods | 4,143 | 4,913 |
Inventory, gross | 10,004 | 11,465 |
Less current inventory | (5,064) | (5,595) |
Inventory Value Before Reserves | 4,940 | 5,870 |
Less reserve for slow moving and excess inventory | (3,949) | (4,426) |
Inventories, net non-current | $ 991 | $ 1,444 |
Property, Plant and Equipment37
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Land | $ 1,000 | $ 1,000 |
Building | 3,361 | 3,361 |
Machinery and equipment | 10,461 | 10,443 |
Furniture and fixtures | 432 | 432 |
Office equipment | 2,377 | 2,304 |
Building improvements | 1,421 | 1,414 |
Property, Plant and Equipment, Gross | 19,052 | 18,954 |
Less: Accumulated depreciation and amortization | (15,773) | (15,333) |
Property, Plant and Equipment, Net | $ 3,279 | $ 3,621 |
Property, Plant and Equipment38
Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $ 440 | $ 490 |
Debt (Details)
Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Term loan | $ 3,500 | $ 3,567 |
Capital leases (Note 7) | 63 | 47 |
Long-term Debt | 3,563 | 3,614 |
Less: Current portion | (228) | (3,604) |
Long Term Debt Noncurrent | $ 3,335 | $ 10 |
Debt (Details Textual)
Debt (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 28, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 228 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 249 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 3,065 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 12 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 9 | ||
Line of Credit, Current | $ 2,120 | $ 2,664 | |
Term Loan Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Interest Rate Description | plus a margin of 4.50% | ||
Santander Bank [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Increase (Decrease), Other, Net | $ 8,000 | ||
Long-term Line of Credit | 3,500 | ||
Santander Bank [Member] | Revolving Credit Facility [Member] | Seventh Amendment [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Line of Credit | 6,900 | ||
Santander Bank [Member] | Term Loan Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Line of Credit | $ 3,400 | ||
Sterling National Bank [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,500 | ||
Line of Credit Facility, Covenant Compliance | (i) a fixed charge coverage ratio of not less than 1.1 to 1.0 for any fiscal month (determined as of the last day of each fiscal month on a rolling twelve-month basis, as calculated for the Company and its consolidated subsidiaries) and (ii) a leverage ratio of not more than 2.0 to 1.0 for any fiscal month | ||
Sterling National Bank [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 5,000 | ||
Debt Instrument, Description of Variable Rate Basis | Interest on the Revolver is variable, based upon the 30-day LIBOR rate (currently 0.76% at December 31, 2016) | ||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | ||
Sterling National Bank [Member] | Term Loan Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,500 | ||
Line of Credit Facility, Periodic Payment, Principal | $ 19 | ||
Line of Credit, Current | 2,120 | ||
Long-term Debt, Gross | $ 3,500 | ||
Debt Instrument, Description of Variable Rate Basis | Interest on the Term Loan also is variable, based upon the 30-day LIBOR rate (currently 0.76% at December 31, 2016) |
Subordinated Convertible Debt41
Subordinated Convertible Debt with Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Mar. 28, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Feb. 11, 2016 | Dec. 31, 2015 | |
Subordinated Borrowing [Line Items] | |||||
Convertible Subordinated Debt, Noncurrent | $ 376 | $ 100 | |||
Subordinated Loan Facility [Member] | |||||
Subordinated Borrowing [Line Items] | |||||
Convertible Subordinated Debt, Noncurrent | 500 | ||||
Paid-in-Kind Interest | 53 | ||||
Derivative Liability | $ 260 | ||||
Share Price | $ 0.38 | $ 0.47 | |||
Debt Instrument, Convertible, Conversion Price | $ 0.54 | $ 0.54 | $ 0.54 | ||
Fair Value Assumptions, Expected Volatility Rate | 91.00% | 104.00% | |||
Fair Value Assumptions, Risk Free Interest Rate | 0.87% | 1.27% | |||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |||
Fair Value Assumptions, Expected Term | 3 years | 2 years 6 months | |||
Accretion Expense | $ 83 | ||||
Line Of Credit Facility, Maximum Borrowing Capacity | $ 750 | ||||
Line Of Credit Temporary Over Advance Facility | $ 50 | ||||
Prior Subordinated Loan Agreement [Member] | |||||
Subordinated Borrowing [Line Items] | |||||
Line of Credit Facility, Current Borrowing Capacity | $ 300 | ||||
Subordinated Lenders [Member] | |||||
Subordinated Borrowing [Line Items] | |||||
Line Of Credit Facility, Maximum Borrowing Capacity | $ 600 |
Commitments and Contingencies42
Commitments and Contingencies (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Loss Contingencies [Line Items] | |
2017-Capital | $ 19 |
2018-Capital | 16 |
2019-Capital | 15 |
2020-Capital | 15 |
2021-Capital | 10 |
Thereafter-Capital | 0 |
Total future minimum lease payments | 75 |
Less: amounts representing interest | (12) |
Present value of minimum lease payments | 63 |
2017-Operating | 144 |
2018-Operating | 126 |
2019-Operating | 94 |
2020-Operating | 66 |
2021-Operating | 43 |
Thereafter-Operating | 0 |
Total future minimum lease payments | $ 473 |
Commitments and Contingencies43
Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||
Capital Leased Assets, Gross | $ 373 | $ 307 |
Accumulated Amortization | 225 | 225 |
Operating Leases, Rent Expense | $ 206 | $ 146 |
Lease Expiration Date | Oct. 31, 2021 |
Benefit Plans (Details Textual)
Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 151 | $ 190 |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | 101 | 54 |
Pension Plan [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Pension and Other Postretirement Benefit Expense | $ 63 | $ 20 |
Related Party Transactions (Det
Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Mar. 28, 2016 | Feb. 11, 2016 |
Chief Executive Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Line Of Credit Facility, Maximum Borrowing Capacity | $ 750 | $ 600 |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details Textual) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Concentration Risk [Line Items] | ||
Percentage Of Trade Accounts Receivable | 41.00% | 41.00% |
Customer One [Member] | Sales Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 17.00% | 10.00% |
Customer One [Member] | Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 19.00% | |
Customer Two [Member] | Sales Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 15.00% | 15.00% |
Customer Two [Member] | Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 12.00% | 18.00% |
Customer Three [Member] | Sales Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 10.00% | |
Customer Four [Member] | Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 10.00% | |
Customer Five [Member] | Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 23.00% | |
Foreign Tax Authority [Member] | Sales Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 3.00% | 3.00% |
Stock Repurchase Program (Detai
Stock Repurchase Program (Details Textual) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2014 | Feb. 13, 2007 | Jul. 24, 2002 |
Program2002 [Member] | |||
Option Indexed to Issuers Equity [Line Items] | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 300 | ||
Common Stock [Member] | Program2002 [Member] | |||
Option Indexed to Issuers Equity [Line Items] | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 72 | ||
Common Stock [Member] | Program2007 [Member] | |||
Option Indexed to Issuers Equity [Line Items] | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100 | 100 |
Executive Stock Purchase Plan (
Executive Stock Purchase Plan (Details Textual) - shares shares in Thousands | Dec. 31, 2016 | Jun. 16, 2014 |
Executive Stock Purchase Plan [Member] | ||
Class of Stock [Line Items] | ||
Stock Repurchase Program, Number Of Shares Authorized To Be Repurchased | 13 | 250 |
Preferred Stock (Details Textua
Preferred Stock (Details Textual) - shares shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Option Indexed to Issuers Equity [Line Items] | ||
Preferred stock, shares authorized | 5,000 | 5,000 |
Stock Option Plans (Details)
Stock Option Plans (Details) - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Plan 2005 [Member] | ||
Shares under option: | ||
Options outstanding-Shares | 1,464 | 1,690 |
Granted-Shares | 100 | 250 |
Exercised - Shares | 0 | 0 |
Forfeited-Shares | (93) | (476) |
Options outstanding-Shares | 1,471 | 1,464 |
Options Exercisable-Shares | 937 | |
Options outstanding-Weighted Average Exercise Price | $ 1.33 | $ 1.7 |
Granted-Weighted Average Exercise Price | 0.62 | 0.4 |
Exercised-Weighted Average Exercise Price | 0 | 0 |
Forfeited-Weighted Average Exercise Price | 1.73 | 1.2 |
Options outstanding-Weighted Average Exercise Price | 1.08 | 1.33 |
Options exercisable-Weighted Average Exercise Price | 1.25 | |
Weighted-average fair value of options granted during: | ||
Weighted-average fair value of options granted | $ 0.01 | $ 0.02 |
Director Plan 2005 [Member] | ||
Shares under option: | ||
Options outstanding-Shares | 408 | 349 |
Granted-Shares | 0 | 59 |
Exercised - Shares | 0 | 0 |
Forfeited-Shares | (20) | 0 |
Options outstanding-Shares | 388 | 408 |
Options Exercisable-Shares | 388 | |
Options outstanding-Weighted Average Exercise Price | $ 1.22 | $ 1.27 |
Granted-Weighted Average Exercise Price | 0 | 0.95 |
Exercised-Weighted Average Exercise Price | 0 | 0 |
Forfeited-Weighted Average Exercise Price | 1.91 | 0 |
Options outstanding-Weighted Average Exercise Price | 1.19 | 1.22 |
Options exercisable-Weighted Average Exercise Price | 1.19 | |
Weighted-average fair value of options granted during: | ||
Weighted-average fair value of options granted | $ 0 | $ 0.02 |
Stock Option Plans (Details 1)
Stock Option Plans (Details 1) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Plan 2005 [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Options Outstanding, Number | 1,471 | ||
Options Outstanding, Weighted-Average Remaining Contractual Life in Years | 6 years | ||
Options Outstanding, Weighted-Average Exercise Price | $ 1.08 | $ 1.33 | $ 1.7 |
Options Exercisable, Number | 1,187 | ||
Options Exercisable, Weighted-Average Exercise Price | $ 1.07 | ||
Exercise Price Range, Lower Range Limit | 0.40 | ||
Exercise Price Range, Upper Range Limit | $ 1.33 | ||
Director Plan 2005 [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Options Outstanding, Number | 388 | ||
Options Outstanding, Weighted-Average Remaining Contractual Life in Years | 4 years 10 months 24 days | ||
Options Outstanding, Weighted-Average Exercise Price | $ 1.19 | $ 1.22 | $ 1.27 |
Options Exercisable, Number | 388 | ||
Options Exercisable, Weighted-Average Exercise Price | $ 1.19 | ||
Exercise Price Range, Lower Range Limit | 0.76 | ||
Exercise Price Range, Upper Range Limit | $ 1.98 |
Stock Option Plans (Details 2)
Stock Option Plans (Details 2) - Restricted Stock [Member] - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested, Number of shares, Beginning | 322 | 0 |
Non-vested, Number of shares, Granted | 705 | 502 |
Non-vested, Number of shares, Vested | 128 | 180 |
Non-vested, Number of shares, Ending | 899 | 322 |
Non-vested, Weighted Average Grant Date Fair Value, Beginning | $ 0.68 | $ 0 |
Non-vested, Weighted Average Grant Date Fair Value, Granted | 0.62 | 0.58 |
Non-vested, Weighted Average Grant Date Fair Value, Vested | 0.7 | 0.4 |
Non-vested, Weighted Average Grant Date Fair Value, Ending | $ 0.68 | $ 0.68 |
Stock Option Plans (Details 3)
Stock Option Plans (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Stock options | $ 69 | $ 100 |
Restricted stock awards | 140 | 116 |
Total | $ 209 | $ 216 |
Stock Option Plans (Details 4)
Stock Option Plans (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-Based Compensation | $ 209 | $ 216 |
Cost of Sales [Member] | ||
Share-Based Compensation | 31 | 34 |
Selling and Marketing Expense [Member] | ||
Share-Based Compensation | 30 | 81 |
General and Administrative Expense [Member] | ||
Share-Based Compensation | 113 | 67 |
Research and Development Expense [Member] | ||
Share-Based Compensation | $ 35 | $ 34 |
Stock Option Plans (Details Tex
Stock Option Plans (Details Textual) - $ / shares shares in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | May 31, 2016 | Dec. 31, 2015 | Aug. 31, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,714 | 852 | ||
Common stock, shares issued | 8,465 | 8,465 | ||
Warrant [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Common stock, shares issued | 100 | |||
Options exercisable-Weighted Average Exercise Price | $ 1.09 | |||
Employee Plan 2005 [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | 500 | |||
Options exercisable-Weighted Average Exercise Price | $ 1.25 | |||
Director Plan 2005 [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 | |||
Options exercisable-Weighted Average Exercise Price | $ 1.19 | |||
May 2007 Amended Employee Plan [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease) | 1,100 | |||
May 2010 Amended Employee Plan [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease) | 1,600 | |||
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, Options, Outstanding, Period Increase (Decrease) | 400 | |||
May2014 Amended Employee Plan [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease) | 2,600 | |||
May 2014 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, Options, Outstanding, Period Increase (Decrease) | 600 | |||
Employee Plan 2016 [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 | 1,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Feb. 7, 2024 | |||
Director Plan 2016 [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 | 400 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Feb. 7, 2024 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | ||
Federal | $ 0 | $ 0 |
State and local | 19 | 12 |
Current Income Tax Expense (Benefit) | 19 | 12 |
Deferred: | ||
Federal | (332) | (2,023) |
State and local | 1,004 | (288) |
Deferred Income Tax Expense (Benefit) | 672 | (2,311) |
Valuation allowance | (662) | 2,345 |
Provision for income taxes | $ 29 | $ 46 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Holiday [Line Items] | ||
Provision (benefit) for Federal income taxes at the statutory rate | $ (396) | $ (2,286) |
State and local income taxes, net of Federal benefit | 12 | (379) |
Permanent differences: | ||
Stock compensation | 0 | 73 |
Other | 66 | 23 |
Deferred tax asset true-up | 1,007 | 0 |
Change in valuation allowance | (662) | 2,345 |
Other | 2 | 270 |
Provision for income taxes | $ 29 | $ 46 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Allowance for doubtful accounts | $ 62 | $ 95 |
Inventories | 1,673 | 2,161 |
Intangible | 154 | 162 |
Share based compensation | 68 | 0 |
Net operating loss carry forward | 9,032 | 9,227 |
Other | 2 | 2 |
Total deferred tax assets | 10,991 | 11,647 |
Deferred tax liabilities: | ||
Depreciation | (77) | (91) |
Intangible | (7) | (8) |
Pension liability | (22) | 0 |
Indefinite life intangibles | (139) | (129) |
Total deferred tax liabilities | (245) | (228) |
Deferred Tax Assets, Net | 10,746 | 11,419 |
Valuation allowance | (10,885) | (11,548) |
Net | $ (139) | $ (129) |
Subsequent Events (Details Text
Subsequent Events (Details Textual) | 1 Months Ended |
Mar. 30, 2017USD ($) | |
Subsequent Event [Member] | Sterling National Bank [Member] | |
Payments of Debt Restructuring Costs | $ 15 |