inTEST (INTT) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	INTEST CORP
Trading Symbol	INTT
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		10,562,678
Amendment Flag	false
Entity Central Index Key	1,036,262
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 23,466	$ 23,126
Trade accounts receivable, net of allowance for doubtful accounts of $146 and $146, respectively	7,380	5,034
Inventories	4,019	3,769
Deferred tax assets	643	529
Prepaid expenses and other current assets	271	473
Total current assets	35,779	32,931
Property and equipment:
Machinery and equipment	4,358	4,322
Leasehold improvements	595	593
Gross property and equipment	4,953	4,915
Less: accumulated depreciation	(3,762)	(3,647)
Net property and equipment	1,191	1,268
Deferred tax assets	599	884
Goodwill	1,706	1,706
Intangible assets, net	1,248	1,393
Restricted certificates of deposit	350	350
Other assets	199	206
Total assets	41,072	38,738
Current liabilities:
Accounts payable	1,713	1,234
Accrued wages and benefits	1,530	1,528
Accrued rent	592	615
Accrued professional fees	393	390
Accrued sales commissions	420	328
Domestic and foreign income taxes payable	243	22
Other current liabilities	459	253
Total current liabilities	$ 5,350	$ 4,370
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding	$ 0	$ 0
Common stock, $0.01 par value; 20,000,000 shares authorized; 10,595,755 and 10,595,755 shares issued, respectively	106	106
Addtional paid-in capital	26,382	26,321
Retained earnings	8,670	7,152
Accumulated other comprehensive earnings	768	993
Treasury stock, at cost; 33,077 and 33,077 shares, respectively	(204)	(204)
Total stockholders' equity	35,722	34,368
Total liabilities and stockholders' equity	$ 41,072	$ 38,738

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts, respectively (in Dollars)	$ 146	$ 146
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	10,595,755	10,595,755
Treasury stock, at cost, shares, respectively	33,077	33,077

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net revenues	$ 11,559	$ 12,343	$ 21,747	$ 21,140
Cost of revenues	5,713	6,261	10,983	10,873
Gross margin	5,846	6,082	10,764	10,267
Operating expenses:
Selling expense	1,592	1,530	3,079	2,856
Engineering and product development expense	1,047	887	1,989	1,810
General and administrative expense	1,569	1,621	3,376	3,153
Total operating expenses	4,208	4,038	8,444	7,819
Operating income	1,638	2,044	2,320	2,448
Other income	21	10	10	17
Earnings before income tax expense	1,659	2,054	2,330	2,465
Income tax expense	579	697	812	822
Net earnings	$ 1,080	$ 1,357	$ 1,518	$ 1,643
Net earnings per common share - basic (in Dollars per share)	$ 0.10	$ 0.13	$ 0.15	$ 0.16
Weighted average common shares outstanding - basic (in Shares)	10,471,888	10,436,730	10,468,651	10,415,461
Net earnings per common share - diluted (in Dollars per share)	$ 0.10	$ 0.13	$ 0.14	$ 0.16
Weighted average common shares and common share equivalents outstanding - diluted (in Shares)	10,494,457	10,456,183	10,489,020	10,452,567

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net earnings	$ 1,080	$ 1,357	$ 1,518	$ 1,643
Foreign currency translation adjustments	104	(15)	(225)	(11)
Comprehensive earnings	$ 1,184	$ 1,342	$ 1,293	$ 1,632

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance, January 1, 2015 at Dec. 31, 2014	$ 106	$ 26,321	$ 7,152	$ 993	$ (204)	$ 34,368
Balance, January 1, 2015 (in Shares) at Dec. 31, 2014	10,595,755					10,595,755
Net earnings			1,518			$ 1,518
Other comprehensive loss				(225)		(225)
Amortization of deferred compensation related to restricted stock		61				61
Balance, June 30, 2015 at Jun. 30, 2015	$ 106	$ 26,382	$ 8,670	$ 768	$ (204)	$ 35,722
Balance, June 30, 2015 (in Shares) at Jun. 30, 2015	10,595,755					10,595,755

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 1,518	$ 1,643
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	395	438
Provision for excess and obsolete inventory	110	138
Foreign exchange loss	13	1
Amortization of deferred compensation related to restricted stock	61	74
Loss on sale of property and equipment	13	20
Proceeds from sale of demonstration equipment, net of gain	146	65
Deferred income tax expense	171	90
Changes in assets and liabilities:
Trade accounts receivable	(2,390)	(1,999)
Inventories	(377)	(768)
Prepaid expenses and other current assets	195	110
Other assets	(7)	(1)
Accounts payable	480	649
Accrued wages and benefits	22	(191)
Accrued rent	(23)	16
Accrued professional fees	4	(38)
Accrued sales commissions	92	127
Domestic and foreign income taxes payable	221	534
Other current liabilities	209	112
Net cash provided by operating activities	853	1,020
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(385)	(424)
Proceeds from sale of property and equipment		8
Net cash used in investing activities	(385)	(416)
Effects of exchange rates on cash	(128)	(6)
Net cash provided by all activities	340	598
Cash and cash equivalents at beginning of period	23,126	19,018
Cash and cash equivalents at end of period	23,466	19,616
Cash payments for:
Domestic and foreign income taxes	$ 419	199
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of unvested shares of restricted stock		41
Forfeiture of unvested shares of restricted stock		$ (20)

Note 1 - Nature of Operations

Note 1 - Nature of Operations	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Nature of Operations [Text Block]	(1) NATURE OF OPERATIONS We are an independent designer, manufacturer and marketer of thermal, mechanical and electrical products that are primarily used by semiconductor manufacturers in conjunction with automatic test equipment ("ATE") in the testing of integrated circuits ("ICs" or "semiconductors"). In addition, in recent years we have begun marketing our thermal products in markets outside the ATE market, such as the automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates Reclassification Inventories Goodwill, Intangible and Long-Lived Assets Stock-Based Compensation Subsequent Events Revenue Recognition Product Warranties Income Taxes Net Earnings Per Common Share Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average common shares outstanding - basic 10,471,888 10,436,730 10,468,651 10,415,461 Potentially dilutive securities: Unvested shares of restricted stock 22,569 19,453 20,369 37,106 Weighted average common shares and common share equivalents outstanding - diluted 10,494,457 10,456,183 10,489,020 10,452,567 Average number of potentially dilutive securities excluded from calculation - 3,516 - 6,758 Effect of Recently Issued Amendments to Authoritative Accounting Guidance

Note 3 - Goodwill and Intangibl

Note 3 - Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	(3) GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 and Thermonics, Inc. ("Thermonics"), a division of Test Enterprises, Inc. in January 2012. Goodwill Intangible Assets June 30, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,073 $ 407 Patented technology 590 366 224 Software 270 182 88 Trade name 140 121 19 Customer backlog 70 70 - Non-compete/non-solicitation agreement 48 48 - Total finite-lived intangible assets 2,598 1,860 738 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 3,108 $ 1,860 $ 1,248 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 979 $ 501 Patented technology 590 346 244 Software 270 169 101 Trade name 140 103 37 Customer backlog 70 70 - Non-compete/non-solicitation agreement 48 48 - Total finite-lived intangible assets 2,598 1,715 883 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 3,108 $ 1,715 $ 1,393 Total amortization expense for the six months ended June 30, 2015 and 2014 was $145 and $185, respectively. The following table sets forth the estimated annual amortization expense for our finite-lived intangible assets for each of the next five years: 2015 (remainder) $ 144 2016 $ 229 2017 $ 212 2018 $ 65 2019 $ 39

Note 4 - Major Customers

Note 4 - Major Customers	6 Months Ended
	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	During the six months ended June 30, 2015 and 2014, Hakuto Co., Ltd., one of our distributors, accounted for 12% and 11% of our consolidated net revenues, respectively. These revenues were generated by our Thermal Products segment. During the six months ended June 30, 2014, Texas Instruments Incorporated accounted for 13% of our consolidated net revenues. While all three of our operating segments sold products to this customer, these revenues were primarily generated by our Mechanical Products and our Electrical Products segments. No other customers accounted for 10% or more of our consolidated net revenues during the six months ended June 30, 2015 and 2014.

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	(5) INVENTORIES Inventories held at June 30, 2015 and December 31, 2014 were comprised of the following: June 30, 2015 Dec. 31, 2014 Raw materials $ 2,667 $ 2,505 Work in process 683 406 Inventory consigned to others 118 129 Finished goods 551 729 $ 4,019 $ 3,769

Note 6 - Debt

Note 6 - Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	(6) DEBT Letters of Credit Letters of Credit Amount Outstanding Original L/C Issue Date Expiration Date Expiration Date June 30, 2015 Dec. 31, 2014 Mt. Laurel, NJ 3/29/2010 4/01/2016 4/30/2021 $ 250 $ 250 Mansfield, MA 10/27/2010 11/08/2015 8/23/2021 100 100 $ 350 $ 350

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(7) STOCK-BASED COMPENSATION As of June 30, 2015, we have unvested restricted stock awards granted under stock-based employee compensation plans that are described more fully in Note 12 to the consolidated financial statements in our 2014 Form 10-K. We did not grant any stock options during 2015 or 2014. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of revenues $ 2 $ 3 $ 5 $ 6 Selling expense 2 1 3 4 Engineering and product development expense 3 5 5 11 General and administrative expense 24 24 48 53 $ 31 $ 33 $ 61 $ 74 There was no compensation expense capitalized in the six months ended June 30, 2015 or 2014. of Shares Weighted Fair Value Unvested shares outstanding, January 1, 2015 101,875 $ 2.82 Granted - - Vested (13,125 ) 3.15 Forfeited - - Unvested shares outstanding, June 30, 2015 88,750 3.05

Note 8 - Employee Benefit Plans

Note 8 - Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	(8) EMPLOYEE BENEFIT PLANS We have a defined contribution 401(k) plan for our employees who work in the U.S. All permanent employees of inTEST Corporation, Temptronic Corporation and inTEST Silicon Valley Corporation who are at least 18 years of age are eligible to participate in the plan. We match employee contributions dollar for dollar up to 10% of the employee's annual compensation, with a maximum limit of $5. Employer contributions vest ratably over four years. Matching contributions are discretionary. For the six months ended June 30, 2015 and 2014, we recorded $239 and $229 of expense for matching contributions, respectively.

Note 9 - Segment Information

Note 9 - Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	We have three reportable segments, which are also our reporting units: Thermal Products, Mechanical Products and Electrical Products. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net revenues: Thermal Products $ 6,659 $ 6,116 $ 12,376 $ 11,359 Mechanical Products 2,487 4,137 4,922 6,184 Electrical Products 2,413 2,090 4,449 3,597 $ 11,559 $ 12,343 $ 21,747 $ 21,140 Earnings (loss) before income tax expense (benefit): Thermal Products $ 1,537 $ 1,207 $ 2,566 $ 2,018 Mechanical Products (196 ) 637 (481 ) 354 Electrical Products 477 400 796 405 Corporate (159 ) (190 ) (551 ) (312 ) $ 1,659 $ 2,054 $ 2,330 $ 2,465 Net earnings (loss): Thermal Products $ 1,001 $ 797 $ 1,673 $ 1,361 Mechanical Products (128 ) 421 (314 ) 224 Electrical Products 311 264 519 268 Corporate (104 ) (125 ) (360 ) (210 ) $ 1,080 $ 1,357 $ 1,518 $ 1,643 June 30, 2015 Dec. 31, 2014 Identifiable assets: Thermal Products $ 16,631 $ 26,211 Mechanical Products 20,472 7,801 Electrical Products 3,969 4,726 $ 41,072 $ 38,738 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net revenues: U.S. $ 3,830 $ 3,723 $ 7,319 $ 6,872 Foreign 7,729 8,620 14,428 14,268 $ 11,559 $ 12,343 $ 21,747 $ 21,140 June 30, 2015 Dec. 31, 2014 Property and equipment: U.S. $ 817 $ 621 Foreign 374 647 $ 1,191 $ 1,268

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates [Policy Text Block]	Basis of Presentation and Use of Estimates
Reclassification, Policy [Policy Text Block]	Reclassification
Inventory, Policy [Policy Text Block]	Inventories
Goodwill Intangible and Long Lived Assets [Policy Text Block]	Goodwill, Intangible and Long-Lived Assets
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation
Subsequent Events, Policy [Policy Text Block]	Subsequent Events
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition
Standard Product Warranty, Policy [Policy Text Block]	Product Warranties
Income Tax, Policy [Policy Text Block]	Income Taxes
Earnings Per Share, Policy [Policy Text Block]	Net Earnings Per Common Share Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average common shares outstanding - basic 10,471,888 10,436,730 10,468,651 10,415,461 Potentially dilutive securities: Unvested shares of restricted stock 22,569 19,453 20,369 37,106 Weighted average common shares and common share equivalents outstanding - diluted 10,494,457 10,456,183 10,489,020 10,452,567 Average number of potentially dilutive securities excluded from calculation - 3,516 - 6,758
New Accounting Pronouncements, Policy [Policy Text Block]	Effect of Recently Issued Amendments to Authoritative Accounting Guidance

Note 2 - Summary of Significa18

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average common shares outstanding - basic 10,471,888 10,436,730 10,468,651 10,415,461 Potentially dilutive securities: Unvested shares of restricted stock 22,569 19,453 20,369 37,106 Weighted average common shares and common share equivalents outstanding - diluted 10,494,457 10,456,183 10,489,020 10,452,567 Average number of potentially dilutive securities excluded from calculation - 3,516 - 6,758

Note 3 - Goodwill and Intangi19

Note 3 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets [Table Text Block]	June 30, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,073 $ 407 Patented technology 590 366 224 Software 270 182 88 Trade name 140 121 19 Customer backlog 70 70 - Non-compete/non-solicitation agreement 48 48 - Total finite-lived intangible assets 2,598 1,860 738 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 3,108 $ 1,860 $ 1,248 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 979 $ 501 Patented technology 590 346 244 Software 270 169 101 Trade name 140 103 37 Customer backlog 70 70 - Non-compete/non-solicitation agreement 48 48 - Total finite-lived intangible assets 2,598 1,715 883 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 3,108 $ 1,715 $ 1,393
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2015 (remainder) $ 144 2016 $ 229 2017 $ 212 2018 $ 65 2019 $ 39

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	June 30, 2015 Dec. 31, 2014 Raw materials $ 2,667 $ 2,505 Work in process 683 406 Inventory consigned to others 118 129 Finished goods 551 729 $ 4,019 $ 3,769

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule Of Outstanding Letters Of Credit [Table Text Block]	Letters of Credit Amount Outstanding Original L/C Issue Date Expiration Date Expiration Date June 30, 2015 Dec. 31, 2014 Mt. Laurel, NJ 3/29/2010 4/01/2016 4/30/2021 $ 250 $ 250 Mansfield, MA 10/27/2010 11/08/2015 8/23/2021 100 100 $ 350 $ 350

Note 7 - Stock-based Compensa22

Note 7 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of revenues $ 2 $ 3 $ 5 $ 6 Selling expense 2 1 3 4 Engineering and product development expense 3 5 5 11 General and administrative expense 24 24 48 53 $ 31 $ 33 $ 61 $ 74
Schedule of Nonvested Share Activity [Table Text Block]	of Shares Weighted Fair Value Unvested shares outstanding, January 1, 2015 101,875 $ 2.82 Granted - - Vested (13,125 ) 3.15 Forfeited - - Unvested shares outstanding, June 30, 2015 88,750 3.05

Note 9 - Segment Information (T

Note 9 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Note 9 - Segment Information (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net revenues: Thermal Products $ 6,659 $ 6,116 $ 12,376 $ 11,359 Mechanical Products 2,487 4,137 4,922 6,184 Electrical Products 2,413 2,090 4,449 3,597 $ 11,559 $ 12,343 $ 21,747 $ 21,140 Earnings (loss) before income tax expense (benefit): Thermal Products $ 1,537 $ 1,207 $ 2,566 $ 2,018 Mechanical Products (196 ) 637 (481 ) 354 Electrical Products 477 400 796 405 Corporate (159 ) (190 ) (551 ) (312 ) $ 1,659 $ 2,054 $ 2,330 $ 2,465 Net earnings (loss): Thermal Products $ 1,001 $ 797 $ 1,673 $ 1,361 Mechanical Products (128 ) 421 (314 ) 224 Electrical Products 311 264 519 268 Corporate (104 ) (125 ) (360 ) (210 ) $ 1,080 $ 1,357 $ 1,518 $ 1,643
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net revenues: U.S. $ 3,830 $ 3,723 $ 7,319 $ 6,872 Foreign 7,729 8,620 14,428 14,268 $ 11,559 $ 12,343 $ 21,747 $ 21,140
Long-lived Assets by Geographic Areas [Table Text Block]	June 30, 2015 Dec. 31, 2014 Property and equipment: U.S. $ 817 $ 621 Foreign 374 647 $ 1,191 $ 1,268
Asset [Member]
Note 9 - Segment Information (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	June 30, 2015 Dec. 31, 2014 Identifiable assets: Thermal Products $ 16,631 $ 26,211 Mechanical Products 20,472 7,801 Electrical Products 3,969 4,726 $ 41,072 $ 38,738

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details)	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Number of Reportable Segments	3

Note 2 - Summary of Significa25

Note 2 - Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Inventory Write-down	$ 110	$ 138
Thermal Products and Mechanical Products [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Equipment Leased to Customers, Initial Term	6 months

Note 2 - Summary of Significa26

Note 2 - Summary of Significant Accounting Policies (Details) - Weighted Average Common Shares - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Weighted Average Common Shares [Abstract]
Weighted average common shares outstanding - basic	10,471,888	10,436,730	10,468,651	10,415,461
Potentially dilutive securities:
Unvested shares of restricted stock	22,569	19,453	20,369	37,106
Weighted average common shares and common share equivalents outstanding - diluted	10,494,457	10,456,183	10,489,020	10,452,567
Average number of potentially dilutive securities excluded from calculation		3,516		6,758

Note 3 - Goodwill and Intangi27

Note 3 - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Period Increase (Decrease)	$ 0
Amortization of Intangible Assets	$ 145	$ 185

Note 3 - Goodwill and Intangi28

Note 3 - Goodwill and Intangible Assets (Details) - Intangible Assets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Finite-lived intangible assets:
Gross Carrying Amount	$ 2,598	$ 2,598
Accumulated Amortization	1,860	1,715
Net Carrying Amount	738	883
Indefinite-lived intangible assets:
Gross Carrying Amount	3,108	3,108
Accumulated Amortization	1,860	1,715
Net Carrying Amount	1,248	1,393
Trademarks [Member]
Indefinite-lived intangible assets:
Gross Carrying Amount	510	510
Net Carrying Amount	510	510
Customer Relationships [Member]
Finite-lived intangible assets:
Gross Carrying Amount	1,480	1,480
Accumulated Amortization	1,073	979
Net Carrying Amount	407	501
Indefinite-lived intangible assets:
Accumulated Amortization	1,073	979
Patented Technology [Member]
Finite-lived intangible assets:
Gross Carrying Amount	590	590
Accumulated Amortization	366	346
Net Carrying Amount	224	244
Indefinite-lived intangible assets:
Accumulated Amortization	366	346
Computer Software, Intangible Asset [Member]
Finite-lived intangible assets:
Gross Carrying Amount	270	270
Accumulated Amortization	182	169
Net Carrying Amount	88	101
Indefinite-lived intangible assets:
Accumulated Amortization	182	169
Trade Names [Member]
Finite-lived intangible assets:
Gross Carrying Amount	140	140
Accumulated Amortization	121	103
Net Carrying Amount	19	37
Indefinite-lived intangible assets:
Accumulated Amortization	121	103
Order or Production Backlog [Member]
Finite-lived intangible assets:
Gross Carrying Amount	70	70
Accumulated Amortization	70	70
Indefinite-lived intangible assets:
Accumulated Amortization	70	70
Noncompete Agreements [Member]
Finite-lived intangible assets:
Gross Carrying Amount	48	48
Accumulated Amortization	48	48
Indefinite-lived intangible assets:
Accumulated Amortization	$ 48	$ 48

Note 3 - Goodwill and Intangi29

Note 3 - Goodwill and Intangible Assets (Details) - Future Amortization Expense $ in Thousands	Jun. 30, 2015USD ($)
Future Amortization Expense [Abstract]
2015 (remainder)	$ 144
2,016	229
2,017	212
2,018	65
2,019	$ 39

Note 4 - Major Customers (Detai

Note 4 - Major Customers (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Note 4 - Major Customers (Details) [Line Items]
Number of Operating Segments	3
Hakuto Co., Ltd. [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Note 4 - Major Customers (Details) [Line Items]
Concentration Risk, Percentage	12.00%	11.00%
Texas Instruments Incorporated [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Note 4 - Major Customers (Details) [Line Items]
Concentration Risk, Percentage		13.00%

Note 5 - Inventories (Details)

Note 5 - Inventories (Details) - Inventories - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventories [Abstract]
Raw materials	$ 2,667	$ 2,505
Work in process	683	406
Inventory consigned to others	118	129
Finished goods	551	729
	$ 4,019	$ 3,769

Note 6 - Debt (Details) - Outst

Note 6 - Debt (Details) - Outstanding Letters of Credit - Letter of Credit [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Letters of Credit Amount Outstanding	$ 350	$ 350
Mt. Laurel [Member]
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Original L/C Issue Date	Mar. 29, 2010
L/C Expiration Date	Apr. 1, 2016
Lease Expiration Date	Apr. 30, 2021
Letters of Credit Amount Outstanding	$ 250	250
Mansfield [Member]
Note 6 - Debt (Details) - Outstanding Letters of Credit [Line Items]
Original L/C Issue Date	Oct. 27, 2010
L/C Expiration Date	Nov. 8, 2015
Lease Expiration Date	Aug. 23, 2021
Letters of Credit Amount Outstanding	$ 100	$ 100

Note 7 - Stock-based Compensa33

Note 7 - Stock-based Compensation (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Note 7 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	0		0
Restricted Stock [Member]
Note 7 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 266,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 73 days
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0	$ 0

Note 7 - Stock-based Compensa34

Note 7 - Stock-based Compensation (Details) - Allocation of Share-Based Compensation Expense - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	$ 31	$ 33	$ 61	$ 74
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	2	3	5	6
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	2	1	3	4
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	3	5	5	11
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-Based Compensation Expense	$ 24	$ 24	$ 48	$ 53

Note 7 - Stock-based Compensa35

Note 7 - Stock-based Compensation (Details) - Nonvested Shares - 6 months ended Jun. 30, 2015 - Restricted Stock [Member] - $ / shares	Total
Note 7 - Stock-based Compensation (Details) - Nonvested Shares [Line Items]
Unvested shares outstanding, January 1, 2015	101,875
Unvested shares outstanding, January 1, 2015	$ 2.82
Unvested shares outstanding, June 30, 2015	88,750
Unvested shares outstanding, June 30, 2015	$ 3.05
Vested	(13,125)
Vested	$ 3.15

Note 8 - Employee Benefit Pla36

Note 8 - Employee Benefit Plans (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	10.00%
Defined Contribution Plan, Maximum Annual Employer Matching Contribution per Emplyee, Amount	$ 5
Defined Contribution Plan Employer Matching Contribution Vesting Period	4 years
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 239	$ 229

Note 9 - Segment Information (D

Note 9 - Segment Information (Details)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Number of Reportable Segments	3

Note 9 - Segment Information 38

Note 9 - Segment Information (Details) - Segment Information - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net revenues:
Net revenues	$ 11,559	$ 12,343	$ 21,747	$ 21,140
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	1,659	2,054	2,330	2,465
Net earnings (loss):
Net earnings (loss)	1,080	1,357	1,518	1,643
Thermal Products [Member]
Net revenues:
Net revenues	6,659	6,116	12,376	11,359
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	1,537	1,207	2,566	2,018
Net earnings (loss):
Net earnings (loss)	1,001	797	1,673	1,361
Mechanical Products [Member]
Net revenues:
Net revenues	2,487	4,137	4,922	6,184
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	(196)	637	(481)	354
Net earnings (loss):
Net earnings (loss)	(128)	421	(314)	224
Electrical Products [Member]
Net revenues:
Net revenues	2,413	2,090	4,449	3,597
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	477	400	796	405
Net earnings (loss):
Net earnings (loss)	311	264	519	268
Corporate Segment [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	(159)	(190)	(551)	(312)
Net earnings (loss):
Net earnings (loss)	$ (104)	$ (125)	$ (360)	$ (210)

Note 9 - Segment Information 39

Note 9 - Segment Information (Details) - Identifiable Assets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Identifiable assets:
Identifiable assets	$ 41,072	$ 38,738
Thermal Products [Member]
Identifiable assets:
Identifiable assets	16,631	26,211
Mechanical Products [Member]
Identifiable assets:
Identifiable assets	20,472	7,801
Electrical Products [Member]
Identifiable assets:
Identifiable assets	$ 3,969	$ 4,726

Note 9 - Segment Information 40

Note 9 - Segment Information (Details) - Net Revenue from Unaffiliated Customers - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net revenues:
Net revenues	$ 11,559	$ 12,343	$ 21,747	$ 21,140
UNITED STATES
Net revenues:
Net revenues	3,830	3,723	7,319	6,872
Foreign [Member]
Net revenues:
Net revenues	$ 7,729	$ 8,620	$ 14,428	$ 14,268

Note 9 - Segment Information 41

Note 9 - Segment Information (Details) - Long-lived Assets by Geographical Area - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property and equipment:
Long-lived assets	$ 1,191	$ 1,268
UNITED STATES
Property and equipment:
Long-lived assets	817	621
Foreign [Member]
Property and equipment:
Long-lived assets	$ 374	$ 647