inTEST (INTT) 10-K 27 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 17, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	INTEST CORP
Entity Central Index Key	1,036,262
Trading Symbol	intt
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,402,058
Entity Public Float			$ 31,138,682
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 28,611	$ 25,710
Trade accounts receivable, net of allowance for doubtful accounts of $146 and $146, respectively	5,377	4,395
Inventories	3,676	3,520
Prepaid expenses and other current assets	342	639
Total current assets	38,006	34,264
Property and equipment:
Machinery and equipment	4,383	4,377
Leasehold improvements	603	603
Gross property and equipment	4,986	4,980
Less: accumulated depreciation	(4,042)	(3,868)
Net property and equipment	944	1,112
Deferred tax assets	1,110	1,245
Goodwill	1,706	1,706
Intangible assets, net	875	1,104
Restricted certificates of deposit	175	350
Other assets	28	203
Total assets	42,844	39,984
Current liabilities:
Accounts payable	1,368	909
Accrued wages and benefits	1,588	1,466
Accrued rent	572	657
Accrued professional fees	419	363
Accrued sales commissions	287	297
Domestic and foreign income taxes payable	575	26
Other current liabilities	247	341
Total current liabilities	5,056	4,059
Commitments and Contingencies (Notes 9 and 11)
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.01 par value; 20,000,000 shares authorized; 10,394,018 and 10,549,423 shares issued, respectively	104	105
Addtional paid-in capital	25,578	26,286
Retained earnings	11,671	9,013
Accumulated other comprehensive earnings	639	725
Treasury stock, at cost; 33,077 and 33,077 shares, respectively	(204)	(204)
Total stockholders' equity	37,788	35,925
Total liabilities and stockholders' equity	$ 42,844	$ 39,984

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 146	$ 146
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	10,394,018	10,549,423
Treasury stock, at cost, shares (in shares)	33,077	33,077

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net revenues	$ 40,227	$ 38,889
Cost of revenues	19,849	20,191
Gross margin	20,378	18,698
Operating expenses:
Selling expense	5,567	5,797
Engineering and product development expense	3,660	3,935
General and administrative expense	7,005	6,404
Total operating expenses	16,232	16,136
Operating income	4,146	2,562
Other income	61	21
Earnings before income tax expense	4,207	2,583
Income tax expense	1,549	722
Net earnings	$ 2,658	$ 1,861
Net earnings per common share - basic (in dollars per share)	$ 0.26	$ 0.18
Weighted average common shares outstanding - basic (in shares)	10,313,747	10,473,210
Net earnings per common share - diluted (in dollars per share)	$ 0.26	$ 0.18
Weighted average common shares and common share equivalents outstanding - diluted (in shares)	10,332,920	10,493,830

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net earnings	$ 2,658	$ 1,861
Foreign currency translation adjustments	(86)	(268)
Comprehensive earnings	$ 2,572	$ 1,593

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2014	10,595,755
Balance at Dec. 31, 2014	$ 106	$ 26,321	$ 7,152	$ 993	$ (204)	$ 34,368
Net earnings			1,861			1,861
Other comprehensive loss				(268)		(268)
Amortization of deferred compensation related to stock-based awards		119				$ 119
Forfeiture of unvested shares of restricted stock (in shares)	(5,000)
Repurchase and retirement of common stock (in shares)	(41,332)					(41,332)
Repurchase and retirement of common stock	$ (1)	(154)				$ (155)
Balance (in shares) at Dec. 31, 2015	10,549,423					10,549,423
Balance at Dec. 31, 2015	$ 105	26,286	9,013	725	(204)	$ 35,925
Issuance of unvested shares of restricted stock
Net earnings			2,658			2,658
Other comprehensive loss				(86)		(86)
Amortization of deferred compensation related to stock-based awards		269				$ 269
Repurchase and retirement of common stock (in shares)	(241,805)					(241,805)
Repurchase and retirement of common stock	$ (2)	(976)				$ (978)
Balance (in shares) at Dec. 31, 2016	10,394,018					10,394,018
Balance at Dec. 31, 2016	$ 104	25,578	$ 11,671	$ 639	$ (204)	$ 37,788
Issuance of unvested shares of restricted stock (in shares)	86,400
Issuance of unvested shares of restricted stock	$ 1	$ (1)				$ 369

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 earnings	$ 2,658	$ 1,861
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	599	754
Provision for excess and obsolete inventory	226	342
Foreign exchange loss	16	33
Amortization of deferred compensation related to stock-based awards	269	119
Loss on sale of property and equipment		15
Proceeds from sale of demonstration equipment, net of gain	129	214
Deferred income tax expense	135	168
Changes in assets and liabilities:
Trade accounts receivable	(1,009)	570
Inventories	(384)	(113)
Prepaid expenses and other current assets	295	(174)
Restricted certificates of deposit	175
Other assets	178	(15)
Accounts payable	459	(324)
Accrued wages and benefits	126	(36)
Accrued rent	(85)	42
Accrued professional fees	57	(25)
Accrued sales commissions	(10)	(31)
Domestic and foreign income taxes payable	549	4
Other current liabilities	(95)	94
Net cash provided by operating activities	4,288	3,498
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(339)	(599)
Net cash used in investing activities	(339)	(599)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchases of common stock	(978)	(155)
Net cash used in financing activities	(978)	(155)
Effects of exchange rates on cash	(70)	(160)
Net cash provided by all activities	2,901	2,584
Cash and cash equivalents at beginning of period	25,710	23,126
Cash and cash equivalents at end of period	28,611	25,710
Cash payments for:
Domestic and foreign income taxes	635	792
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of unvested shares of restricted stock	369
Forfeiture of unvested shares of restricted stock		$ (20)

Note 1 - Nature of Operations

Note 1 - Nature of Operations	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
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"). We also market our thermal products in markets outside the ATE market, such as the automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets. three January 2016, 3, 2016 may may may may may may

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates Reclassification Cash and Cash Equivalents three may Trade Accounts Receivable and Allowance for Doubtful Accounts no December 31, 2016 2015. Fair Value of Financial Instruments Inventories first first twelve three $226 $342 December 31, 2016 2015, Property and Equipment one ten $370 $465 December 31, 2016 2015, Goodwill, Intangible and Long-Lived Assets 350 fourth may two two two two two fourth may Stock-Based Compensation 718 12. Subsequent Events December 31, 2016. third six Product Warranties Engineering and Product Development Foreign Currency December 31, 2016 2015, $16 $33, Income Taxes Net Earnings Per Common Share Years Ended December 31, 2016 2015 Weighted average common shares outstanding - basic 10,313,747 10,473,210 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 19,173 20,620 Weighted average common shares outstanding - diluted 10,332,920 10,493,830 Average number of potentially dilutive securities excluded from calculation 18,658 - Effect of Recently Adopted Amendments to Authoritative Accounting Guidance November 2015, 740 one one January 1, 2017. January 1, 2016. Effect of Recently Issued Amendments to Authoritative Accounting Guidance January 2017, January 1, 2020, January 1, 2017. January 2017, January 1, 2018 November 2016, January 1, 2018, March 2016, 718 January 1, 2017. February 2016, 842 12 January 1, 2019. July 2015, 330 first January 1, 2017. May 2014, May, 2014, 606 August 2015, one January 1, 2018. January 1, 2017. January 1, 2018 fourth 2016,

Note 3 - Restructuring Charges

Note 3 - Restructuring Charges	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	(3) RESTRUCTURING CHARGES In recent years, our Mechanical Products segment has experienced significant operating losses. We have undertaken actions at various times over the last few years to address these losses. On January 4, 2016, $99 first 2016, first 2016.

Note 4 - Goodwill, Intangible a

Note 4 - Goodwill, Intangible and Long-lived Assets	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	(4) GOODWILL, INTANGIBLE AND LONG-LIVED ASSETS Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 January 2012. Goodwill no December 31, 2016. Intangible Assets December 31, 2016 2015: December 31, 2016 Gross Amount Amortization Net Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,328 $ 152 Patented technology 590 424 166 Software 270 223 47 Trade name 140 140 - Total finite-lived intangible assets 2,480 2,115 365 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 2,990 $ 2,115 $ 875 December 31, 2015 Gross Amount Amortization Net Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,166 $ 314 Patented technology 590 386 204 Software 270 196 74 Trade name 140 138 2 Total finite-lived intangible assets 2,480 1,886 594 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 2,990 $ 1,886 $ 1,104 We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our finite-lived assets have any residual value. The following table provides further information about the estimated useful lives of our finite-lived intangible assets as of December 31, 2016: Remaining Dec. 31, 2016 - - - - (in months) - - - - Finite-lived intangible assets resulting from the acquisition of Sigma: Customer relationships 72 - Software 120 21.0 Patented technology 60 - Finite-lived intangible assets resulting from the acquisition of Thermonics: Customer relationships 72 12.5 Trade name 48 - Patented technology 132 72.5 Total amortization expense for the years ended December 31, 2016 2015 $229 $289, five 2017 $ 212 2018 65 2019 39 2020 30 2021 15 Impairment of Goodwill and Indefinite Life Intangible Assets December 2016 2015, 350 2016 2015 18.5% 20.0%, 2016 2015, 2016 2015, no 2016 2015. Impairment of Long-Lived Assets and Finite-lived Intangible Assets December 2015, 2016, 2016, December 2016. 2016 2015,

Note 5 - Major Customers

Note 5 - Major Customers	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	(5) MAJOR CUSTOMERS During the years ended December 31, 2016 2015, one 13% 12% December 31, 2016, 10% three December 31, 2016 2015, 10%

Note 6 - Inventories

Note 6 - Inventories	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	(6) INVENTORIES Inventories held at December 31 2016 2015 Raw materials $ 2,695 $ 2,535 Work in process 728 295 Inventory consigned to others 81 119 Finished goods 172 571 Total inventories $ 3,676 $ 3,520

Note 7 - Other Current Liabilit

Note 7 - Other Current Liabilities	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	(7) OTHER CURRENT LIABILITIES Other current liabilities at December 31 2016 2015 Accrued warranty $ 125 $ 94 Deferred revenue and customer deposits 74 173 Other 48 74 Total other current liabilities $ 247 $ 341

Note 8 - Debt

Note 8 - Debt	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	(8) DEBT Letters of Credit 30 one December 31, 2016 2015 L/C Lease Letters of Credit Amount Outstanding Facility Original L/C Issue Date Expiration Date Expiration Date Dec. 31 Dec. 31, Mt. Laurel, NJ 3/29/2010 3/31/2018 4/30/2021 $ 125 $ 250 Mansfield, MA 10/27/2010 11/08/2017 8/31/2021 50 100 $ 175 $ 350

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	(9) COMMITMENTS AND CONTINGENCIES Operating Lease Commitments 2021. December 31, 2016 2015 $1,241 $1,351, December 31, 2016 2017 $ 1,164 2018 1,224 2019 1,216 2020 1,172 2021 508 Total $ 5,284

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(10) INCOME TAXES We are subject to Federal and certain state income taxes. In addition, we are taxed in certain foreign countries. As of December 31, 2016 2015, no Years Ended 2016 2015 Domestic $ 3,345 $ 1,868 Foreign 862 715 Total $ 4,207 $ 2,583 Income tax expense (benefit) was as follows: Years Ended 2016 2015 Current Domestic -- Federal $ 1,295 $ 523 Domestic -- state 74 45 Foreign 45 (14 ) Total $ 1,414 $ 554 Deferred Domestic -- Federal $ (39 ) $ 12 Domestic -- state 10 (9 ) Foreign 164 165 Total 135 168 Income tax expense $ 1,549 $ 722 Deferred income taxes reflect the net tax effect of net operating loss and credit carryforwards as well as temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following is a summary of the significant components of our deferred tax assets and liabilities as of December 31, 2016 2015: December 31, 2016 2015 Deferred tax assets: Depreciation of property and equipment $ 580 $ 580 Intangibles 311 279 Inventories 182 186 Accrued vacation pay and stock-based compensation 161 151 Net operating loss ("NOL") (state and foreign) 71 264 Allowance for doubtful accounts 55 55 Acquisition costs 28 31 Accrued warranty 9 5 Other 7 13 Total 1,404 1,564 Valuation allowance - (15 ) Deferred tax assets 1,404 1,549 Deferred tax liabilities: Net intangible assets (212 ) (222 ) Unremitted earnings of foreign subsidiaries (82 ) (82 ) Deferred tax liabilities (294 ) (304 ) Net deferred tax assets $ 1,110 $ 1,245 The net change in the valuation allowance for the years ended December 31, 2016 2015 $15 $85, 2036. December 31, 2016 2015 34% Years Ended December 31, 2016 2015 Expected income tax provision at U.S. statutory rate $ 1,430 $ 878 Increase (decrease) in tax from: Foreign income tax rate differences (258 ) (64 ) Current year tax credits (foreign and research) (140 ) (207 ) Domestic production activities deduction (112 ) (68 ) Changes in valuation allowance (15 ) (85 ) Deemed dividend from foreign subsidiaries 396 151 NOL carryforwards utilized 180 99 Domestic tax expense, net of Federal benefit 55 33 Nondeductible expenses 14 15 Other (1 ) (30 ) Income tax expense $ 1,549 $ 722 In accounting for income taxes, we follow the guidance in ASC Topic 740 December 31, 2016 2015, not December 31, 2013 first 2017, December 31, 2014

Note 11 - Legal Proceedings

Note 11 - Legal Proceedings	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	(11) LEGAL PROCEEDINGS From time to time we may

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation Plan	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(12) STOCK-BASED COMPENSATION PLAN As of December 31, 2016, 2007 "2007 2014 "2014 2007 June 13, 2007 500,000 December 31, 2016, no 2007 2014 June 25, 2014 500,000 December 31, 2016, 456,300 2014 December 31, 2016, $316. 2.5 2016 2015, Years Ended December 31, 2016 2015 Cost of revenues $ 10 $ 10 Selling expense 6 5 Engineering and product development expense 11 10 General and administrative expense 242 94 $ 269 $ 119 There was no 2016 2015. Stock Options may ten four No 2015. 2016 Risk-free interest rate 1.30 % Dividend yield 0.00 % Expected common stock market price volatility factor .40 Weighted average expected life of stock options (years) 4 The per share weighted average fair value of stock options issued during 2016 $1.43. December 31, 2016: of Shares Weighted Exercise Price Options outstanding, January 1, 2016 - $ - Granted 19,800 4.37 Exercised - - Canceled - - Options outstanding, December 31, 2016 (none exercisable) 19,800 4.37 Restricted Stock Awards four two December 31, 2016: of Shares Weighted Fair Value Unvested shares outstanding, January 1, 2015 101,875 $ 3.66 Granted - - Vested (33,125 ) 3.65 Forfeited (5,000 ) 3.97 Unvested shares outstanding, December 31, 2015 63,750 3.64 Granted 86,400 4.27 Vested (53,125 ) 3.94 Forfeited - - Unvested shares outstanding, December 31, 2016 97,025 4.04 The total fair value of the shares that vested during the years ended December 31, 2016 2015 $208 $138,

Note 13 - Stock Repurchase Plan

Note 13 - Stock Repurchase Plan	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Stock Repurchase Plan [Text Block]	(13) STOCK REPURCHASE PLAN On October 27, 2015, $5,000 10b 18 1934, "2015 may 10b5 1 2015 2015 may 2015 2016 2015, 241,805 41,332 2015 $978 $155, December 31, 2016, 283,137 2015 $1,133, $7. 2015 May 2016 September 2016.

Note 14 - Employee Benefit Plan

Note 14 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	(14) EMPLOYEE BENEFIT PLANS We have a defined contribution 401(k) 401(k) 18 10% $5. four December 31, 2016 2015, $347 $329

Note 15 - Segment Information

Note 15 - Segment Information	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	(15) SEGMENT INFORMATION We have three three three third Years Ended December 31, 2016 2015 Net revenues from unaffiliated customers: Thermal Products $ 24,033 $ 24,084 Mechanical Products 8,309 7,539 Electrical Products 7,885 7,266 $ 40,227 $ 38,889 Depreciation/amortization: Thermal Products $ 440 $ 581 Mechanical Products 58 79 Electrical Products 101 94 $ 599 $ 754 Operating income (loss): Thermal Products $ 4,210 $ 4,517 Mechanical Products (74 ) (1,902 ) Electrical Products 1,063 673 Corporate (1,053 ) (726 ) $ 4,146 $ 2,562 Earnings (loss) before income tax expense (benefit): Thermal Products $ 4,193 $ 4,479 Mechanical Products (72 ) (1,874 ) Electrical Products 1,093 704 Corporate (1,007 ) (726 ) $ 4,207 $ 2,583 Income tax expense (benefit): Thermal Products $ 1,544 $ 1,252 Mechanical Products (26 ) (524 ) Electrical Products 402 197 Corporate (371 ) (203 ) $ 1,549 $ 722 Net earnings (loss): Thermal Products $ 2,649 $ 3,227 Mechanical Products (46 ) (1,350 ) Electrical Products 691 507 Corporate (636 ) (523 ) $ 2,658 $ 1,861 Capital expenditures: Thermal Products $ 262 $ 389 Mechanical Products 44 101 Electrical Products 33 109 $ 339 $ 599 December 31, 2016 2015 Identifiable assets: Thermal Products $ 19,893 $ 16,983 Mechanical Products 18,359 19,733 Electrical Products 4,592 3,268 $ 42,844 $ 39,984 The following table provides information about our geographic areas of operation. Net revenues from unaffiliated customers are based on the location to which the goods are shipped. Years Ended December 31, 2016 2015 Net revenues from unaffiliated customers: U.S. $ 13,061 $ 14,294 Foreign 27,166 24,595 $ 40,227 $ 38,889 December 31, 2016 2015 Property and equipment: U.S. $ 691 $ 797 Foreign 253 315 $ 944 $ 1,112

Note 16 - Quarterly Consolidate

Note 16 - Quarterly Consolidated Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Quarterly Financial Information [Text Block]	(16) QUARTERLY CONSOLIDATED FINANCIAL DATA (Unaudited) The following tables present certain unaudited consolidated quarterly financial information for each of the eight December 31, 2016. may tend may Quarters Ended 3/31/16 6/30/16 9/30/16 12/31/16 Total Net revenues $ 8,647 $ 10,485 $ 10,823 $ 10,272 $ 40,227 Gross margin 4,067 5,329 5,577 5,405 20,378 Earnings before income tax expense 124 749 1,721 1,613 4,207 Income tax expense 43 263 631 612 1,549 Net earnings 81 486 1,090 1,001 2,658 Net earnings per common share - basic $ 0.01 $ 0.05 $ 0.11 $ 0.10 $ 0.26 Weighted average common shares outstanding - basic 10,390,002 10,295,836 10,295,447 10,273,702 10,313,747 Net earnings per common share - diluted $ 0.01 $ 0.05 $ 0.11 $ 0.10 $ 0.26 Weighted average common shares outstanding - diluted 10,404,244 10,310,692 10,318,715 10,297,439 10,332,920 Quarters Ended 3/31/15 6/30/15 9/30/15 12/31/15 Total Net revenues $ 10,188 $ 11,559 $ 9,203 $ 7,939 $ 38,889 Gross margin 4,918 5,846 4,323 3,611 18,698 Earnings (loss) before income tax expense (benefit) 671 1,659 407 (154 ) 2,583 Income tax expense (benefit) 233 579 97 (187 ) 722 Net earnings 438 1,080 310 33 1,861 Net earnings per common share - basic $ 0.04 $ 0.10 $ 0.03 $ 0.00 $ 0.18 Weighted average common shares outstanding - basic 10,465,414 10,471,888 10,473,928 10,481,612 10,473,210 Net earnings per common share - diluted $ 0.04 $ 0.10 $ 0.03 $ 0.00 $ 0.18 Weighted average common shares outstanding - diluted 10,483,527 10,494,457 10,498,911 10,498,369 10,493,830

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
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
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents three may
Receivables, Policy [Policy Text Block]	Trade Accounts Receivable and Allowance for Doubtful Accounts no December 31, 2016 2015.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments
Inventory, Policy [Policy Text Block]	Inventories first first twelve three $226 $342 December 31, 2016 2015,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment one ten $370 $465 December 31, 2016 2015,
Goodwill Intangible And Long Lived Assets [Policy Text Block]	Goodwill, Intangible and Long-Lived Assets 350 fourth may two two two two two fourth may
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation 718 12.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events December 31, 2016.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition third six
Standard Product Warranty, Policy [Policy Text Block]	Product Warranties
Research and Development Expense, Policy [Policy Text Block]	Engineering and Product Development
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency December 31, 2016 2015, $16 $33,
Income Tax, Policy [Policy Text Block]	Income Taxes
Earnings Per Share, Policy [Policy Text Block]	Net Earnings Per Common Share Years Ended December 31, 2016 2015 Weighted average common shares outstanding - basic 10,313,747 10,473,210 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 19,173 20,620 Weighted average common shares outstanding - diluted 10,332,920 10,493,830 Average number of potentially dilutive securities excluded from calculation 18,658 -
New Accounting Pronouncements, Policy [Policy Text Block]	Effect of Recently Adopted Amendments to Authoritative Accounting Guidance November 2015, 740 one one January 1, 2017. January 1, 2016. Effect of Recently Issued Amendments to Authoritative Accounting Guidance January 2017, January 1, 2020, January 1, 2017. January 2017, January 1, 2018 November 2016, January 1, 2018, March 2016, 718 January 1, 2017. February 2016, 842 12 January 1, 2019. July 2015, 330 first January 1, 2017. May 2014, May, 2014, 606 August 2015, one January 1, 2018. January 1, 2017. January 1, 2018 fourth 2016,

Note 2 - Summary of Significa25

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Years Ended December 31, 2016 2015 Weighted average common shares outstanding - basic 10,313,747 10,473,210 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 19,173 20,620 Weighted average common shares outstanding - diluted 10,332,920 10,493,830 Average number of potentially dilutive securities excluded from calculation 18,658 -

Note 4 - Goodwill, Intangible26

Note 4 - Goodwill, Intangible and Long-lived Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule Of Intangible Assets [Table Text Block]	December 31, 2016 Gross Amount Amortization Net Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,328 $ 152 Patented technology 590 424 166 Software 270 223 47 Trade name 140 140 - Total finite-lived intangible assets 2,480 2,115 365 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 2,990 $ 2,115 $ 875 December 31, 2015 Gross Amount Amortization Net Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,166 $ 314 Patented technology 590 386 204 Software 270 196 74 Trade name 140 138 2 Total finite-lived intangible assets 2,480 1,886 594 Indefinite-lived intangible assets: Sigma trademark 510 - 510 Total intangible assets $ 2,990 $ 1,886 $ 1,104
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Remaining Dec. 31, 2016 - - - - (in months) - - - - Finite-lived intangible assets resulting from the acquisition of Sigma: Customer relationships 72 - Software 120 21.0 Patented technology 60 - Finite-lived intangible assets resulting from the acquisition of Thermonics: Customer relationships 72 12.5 Trade name 48 - Patented technology 132 72.5
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2017 $ 212 2018 65 2019 39 2020 30 2021 15

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2016 2015 Raw materials $ 2,695 $ 2,535 Work in process 728 295 Inventory consigned to others 81 119 Finished goods 172 571 Total inventories $ 3,676 $ 3,520

Note 7 - Other Current Liabil28

Note 7 - Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Current Liabilities [Table Text Block]	2016 2015 Accrued warranty $ 125 $ 94 Deferred revenue and customer deposits 74 173 Other 48 74 Total other current liabilities $ 247 $ 341

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule Of Outstanding Letters Of Credit [Table Text Block]	L/C Lease Letters of Credit Amount Outstanding Facility Original L/C Issue Date Expiration Date Expiration Date Dec. 31 Dec. 31, Mt. Laurel, NJ 3/29/2010 3/31/2018 4/30/2021 $ 125 $ 250 Mansfield, MA 10/27/2010 11/08/2017 8/31/2021 50 100 $ 175 $ 350

Note 9 - Commitments and Cont30

Note 9 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	2017 $ 1,164 2018 1,224 2019 1,216 2020 1,172 2021 508 Total $ 5,284

Note 10 - Income Taxes (Tables)

Note 10 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Years Ended 2016 2015 Domestic $ 3,345 $ 1,868 Foreign 862 715 Total $ 4,207 $ 2,583
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years Ended 2016 2015 Current Domestic -- Federal $ 1,295 $ 523 Domestic -- state 74 45 Foreign 45 (14 ) Total $ 1,414 $ 554 Deferred Domestic -- Federal $ (39 ) $ 12 Domestic -- state 10 (9 ) Foreign 164 165 Total 135 168 Income tax expense $ 1,549 $ 722
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2016 2015 Deferred tax assets: Depreciation of property and equipment $ 580 $ 580 Intangibles 311 279 Inventories 182 186 Accrued vacation pay and stock-based compensation 161 151 Net operating loss ("NOL") (state and foreign) 71 264 Allowance for doubtful accounts 55 55 Acquisition costs 28 31 Accrued warranty 9 5 Other 7 13 Total 1,404 1,564 Valuation allowance - (15 ) Deferred tax assets 1,404 1,549 Deferred tax liabilities: Net intangible assets (212 ) (222 ) Unremitted earnings of foreign subsidiaries (82 ) (82 ) Deferred tax liabilities (294 ) (304 ) Net deferred tax assets $ 1,110 $ 1,245
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2016 2015 Expected income tax provision at U.S. statutory rate $ 1,430 $ 878 Increase (decrease) in tax from: Foreign income tax rate differences (258 ) (64 ) Current year tax credits (foreign and research) (140 ) (207 ) Domestic production activities deduction (112 ) (68 ) Changes in valuation allowance (15 ) (85 ) Deemed dividend from foreign subsidiaries 396 151 NOL carryforwards utilized 180 99 Domestic tax expense, net of Federal benefit 55 33 Nondeductible expenses 14 15 Other (1 ) (30 ) Income tax expense $ 1,549 $ 722

Note 12 - Stock-based Compens32

Note 12 - Stock-based Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Years Ended December 31, 2016 2015 Cost of revenues $ 10 $ 10 Selling expense 6 5 Engineering and product development expense 11 10 General and administrative expense 242 94 $ 269 $ 119
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Risk-free interest rate 1.30 % Dividend yield 0.00 % Expected common stock market price volatility factor .40 Weighted average expected life of stock options (years) 4
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	of Shares Weighted Exercise Price Options outstanding, January 1, 2016 - $ - Granted 19,800 4.37 Exercised - - Canceled - - Options outstanding, December 31, 2016 (none exercisable) 19,800 4.37
Schedule of Nonvested Share Activity [Table Text Block]	of Shares Weighted Fair Value Unvested shares outstanding, January 1, 2015 101,875 $ 3.66 Granted - - Vested (33,125 ) 3.65 Forfeited (5,000 ) 3.97 Unvested shares outstanding, December 31, 2015 63,750 3.64 Granted 86,400 4.27 Vested (53,125 ) 3.94 Forfeited - - Unvested shares outstanding, December 31, 2016 97,025 4.04

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Years Ended December 31, 2016 2015 Net revenues from unaffiliated customers: Thermal Products $ 24,033 $ 24,084 Mechanical Products 8,309 7,539 Electrical Products 7,885 7,266 $ 40,227 $ 38,889 Depreciation/amortization: Thermal Products $ 440 $ 581 Mechanical Products 58 79 Electrical Products 101 94 $ 599 $ 754 Operating income (loss): Thermal Products $ 4,210 $ 4,517 Mechanical Products (74 ) (1,902 ) Electrical Products 1,063 673 Corporate (1,053 ) (726 ) $ 4,146 $ 2,562 Earnings (loss) before income tax expense (benefit): Thermal Products $ 4,193 $ 4,479 Mechanical Products (72 ) (1,874 ) Electrical Products 1,093 704 Corporate (1,007 ) (726 ) $ 4,207 $ 2,583 Income tax expense (benefit): Thermal Products $ 1,544 $ 1,252 Mechanical Products (26 ) (524 ) Electrical Products 402 197 Corporate (371 ) (203 ) $ 1,549 $ 722 Net earnings (loss): Thermal Products $ 2,649 $ 3,227 Mechanical Products (46 ) (1,350 ) Electrical Products 691 507 Corporate (636 ) (523 ) $ 2,658 $ 1,861 Capital expenditures: Thermal Products $ 262 $ 389 Mechanical Products 44 101 Electrical Products 33 109 $ 339 $ 599
Revenue from External Customers by Geographic Areas [Table Text Block]	Years Ended December 31, 2016 2015 Net revenues from unaffiliated customers: U.S. $ 13,061 $ 14,294 Foreign 27,166 24,595 $ 40,227 $ 38,889
Long-lived Assets by Geographic Areas [Table Text Block]	December 31, 2016 2015 Property and equipment: U.S. $ 691 $ 797 Foreign 253 315 $ 944 $ 1,112
Asset [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	December 31, 2016 2015 Identifiable assets: Thermal Products $ 19,893 $ 16,983 Mechanical Products 18,359 19,733 Electrical Products 4,592 3,268 $ 42,844 $ 39,984

Note 16 - Quarterly Consolida34

Note 16 - Quarterly Consolidated Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarters Ended 3/31/16 6/30/16 9/30/16 12/31/16 Total Net revenues $ 8,647 $ 10,485 $ 10,823 $ 10,272 $ 40,227 Gross margin 4,067 5,329 5,577 5,405 20,378 Earnings before income tax expense 124 749 1,721 1,613 4,207 Income tax expense 43 263 631 612 1,549 Net earnings 81 486 1,090 1,001 2,658 Net earnings per common share - basic $ 0.01 $ 0.05 $ 0.11 $ 0.10 $ 0.26 Weighted average common shares outstanding - basic 10,390,002 10,295,836 10,295,447 10,273,702 10,313,747 Net earnings per common share - diluted $ 0.01 $ 0.05 $ 0.11 $ 0.10 $ 0.26 Weighted average common shares outstanding - diluted 10,404,244 10,310,692 10,318,715 10,297,439 10,332,920 Quarters Ended 3/31/15 6/30/15 9/30/15 12/31/15 Total Net revenues $ 10,188 $ 11,559 $ 9,203 $ 7,939 $ 38,889 Gross margin 4,918 5,846 4,323 3,611 18,698 Earnings (loss) before income tax expense (benefit) 671 1,659 407 (154 ) 2,583 Income tax expense (benefit) 233 579 97 (187 ) 722 Net earnings 438 1,080 310 33 1,861 Net earnings per common share - basic $ 0.04 $ 0.10 $ 0.03 $ 0.00 $ 0.18 Weighted average common shares outstanding - basic 10,465,414 10,471,888 10,473,928 10,481,612 10,473,210 Net earnings per common share - diluted $ 0.04 $ 0.10 $ 0.03 $ 0.00 $ 0.18 Weighted average common shares outstanding - diluted 10,483,527 10,494,457 10,498,911 10,498,369 10,493,830

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	12 Months Ended
	Dec. 31, 2016
Number of Reportable Segments	3

Note 2 - Summary of Significa36

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Provision for Doubtful Accounts	$ 0	$ 0
Inventory Write-down	226	342
Depreciation	370	465
Foreign Currency Transaction Gain (Loss), before Tax	$ (16)	$ (33)
Thermal Products and Mechanical Products [Member]
Equipment Leased To Customers Initial Term	180 days
Minimum [Member]
Property, Plant and Equipment, Useful Life	1 year
Maximum [Member]
Property, Plant and Equipment, Useful Life	10 years

Note 2 - Summary of Significa37

Note 2 - Summary of Significant Accounting Policies - Weighted Average Common Shares (Details) - shares	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Weighted average common shares outstanding - basic (in shares)	10,273,702	10,295,447	10,295,836	10,390,002	10,481,612	10,473,928	10,471,888	10,465,414	10,313,747	10,473,210
Potentially dilutive securities:
Unvested shares of restricted stock and employee stock options (in shares)									19,173	20,620
Weighted average common shares outstanding - diluted (in shares)	10,297,439	10,318,715	10,310,692	10,404,244	10,498,369	10,498,911	10,494,457	10,483,527	10,332,920	10,493,830
Average number of potentially dilutive securities excluded from calculation (in shares)									18,658	0

Note 3 - Restructuring Charges

Note 3 - Restructuring Charges (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Costs	$ 99

Note 4 - Goodwill, Intangible39

Note 4 - Goodwill, Intangible and Long-lived Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill, Period Increase (Decrease)	$ 0
Amortization of Intangible Assets	$ 229	$ 289
Fair Value Inputs, Discount Rate	18.50%	20.00%
Goodwill and Intangible Asset Impairment	$ 0	$ 0

Note 4 - Goodwill, Intangible40

Note 4 - Goodwill, Intangible and Long-lived Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Finite-lived, Gross Carrying Amount	$ 2,480	$ 2,480
Finite-lived, Accumulated Amortization	2,115	1,886
Net Carrying Amount	365	594
Intangible Assets, Gross Carrying Amount	2,990	2,990
Net Carrying Amount	875	1,104
Trademarks [Member]
Indefinite-lived, Gross Carrying Amount	510	510
Customer Relationships [Member]
Finite-lived, Gross Carrying Amount	1,480	1,480
Finite-lived, Accumulated Amortization	1,328	1,166
Net Carrying Amount	152	314
Patented Technology [Member]
Finite-lived, Gross Carrying Amount	590	590
Finite-lived, Accumulated Amortization	424	386
Net Carrying Amount	166	204
Computer Software, Intangible Asset [Member]
Finite-lived, Gross Carrying Amount	270	270
Finite-lived, Accumulated Amortization	223	196
Net Carrying Amount	47	74
Trade Names [Member]
Finite-lived, Gross Carrying Amount	140	140
Finite-lived, Accumulated Amortization	140	138
Net Carrying Amount	$ 0	$ 2

Note 4 - Goodwill, Intangible41

Note 4 - Goodwill, Intangible and Long-lived Assets - Estimated Useful Lives of Finite Lived Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2016
Customer Relationships [Member] | Sigma [Member]
Estimated Useful Life (Month)	6 years
Remaining Estimated Useful Life (Month)	0 years
Customer Relationships [Member] | Thermonics [Member]
Estimated Useful Life (Month)	6 years
Remaining Estimated Useful Life (Month)	1 year 15 days
Computer Software, Intangible Asset [Member] | Sigma [Member]
Estimated Useful Life (Month)	10 years
Remaining Estimated Useful Life (Month)	1 year 270 days
Patented Technology [Member] | Sigma [Member]
Estimated Useful Life (Month)	5 years
Remaining Estimated Useful Life (Month)	0 years
Patented Technology [Member] | Thermonics [Member]
Estimated Useful Life (Month)	11 years
Remaining Estimated Useful Life (Month)	6 years 15 days
Trade Names [Member] | Thermonics [Member]
Estimated Useful Life (Month)	4 years
Remaining Estimated Useful Life (Month)	0 years

Note 4 - Goodwill and Intangibl

Note 4 - Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 212
2,018	65
2,019	39
2,020	30
2,021	$ 15

Note 5 - Major Customers (Detai

Note 5 - Major Customers (Details Textual)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Number of Operating Segments	3
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Hakuto Co Ltd [Member]
Concentration Risk, Percentage	13.00%	12.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Texas Instruments Incorporated [Member]
Concentration Risk, Percentage	10.00%

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories Held (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Raw materials	$ 2,695	$ 2,535
Work in process	728	295
Inventory consigned to others	81	119
Finished goods	172	571
Total inventories	$ 3,676	$ 3,520

Note 7 - Other Current Liabil45

Note 7 - Other Current Liabilities - Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accrued warranty	$ 125	$ 94
Deferred revenue and customer deposits	74	173
Other	48	74
Total other current liabilities	$ 247	$ 341

Note 8 - Debt - Outstanding Let

Note 8 - Debt - Outstanding Letters of Credit (Details) - Letter of Credit [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Letters of Credit Amount Outstanding	$ 175	$ 350
Mt Laurel [Member]
Line of Credit, Issue Date	Mar. 29, 2010
Line of Credit, ExpirationDate	Mar. 31, 2018
Lease Expiration Date	Apr. 30, 2021
Letters of Credit Amount Outstanding	$ 125	250
Mansfield [Member]
Line of Credit, Issue Date	Oct. 27, 2010
Line of Credit, ExpirationDate	Nov. 8, 2017
Lease Expiration Date	Aug. 31, 2021
Letters of Credit Amount Outstanding	$ 50	$ 100

Note 9 - Commitments and Cont47

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating Leases, Rent Expense	$ 1,241	$ 1,351

Note 9 - Commitments and Cont48

Note 9 - Commitments and Contingencies - Minimum Rental Commitments Under Noncancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 1,164
2,018	1,224
2,019	1,216
2,020	1,172
2,021	508
Total	$ 5,284

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Liability for Uncertainty in Income Taxes, Current	$ 0	$ 0
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 15	$ 85
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%	34.00%
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	$ 0	$ 0

Note 10 - Income Taxes - Earnin

Note 10 - Income Taxes - Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Domestic									$ 3,345	$ 1,868
Foreign									862	715
Total	$ 1,613	$ 1,721	$ 749	$ 124	$ (154)	$ 407	$ 1,659	$ 671	$ 4,207	$ 2,583

Note 10 - Income Taxes - Income

Note 10 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Current
Domestic -- Federal									$ 1,295	$ 523
Domestic -- state									74	45
Foreign									45	(14)
Total									1,414	554
Deferred
Domestic -- Federal									(39)	12
Domestic -- state									10	(9)
Foreign									164	165
Total									135	168
Income tax expense	$ 612	$ 631	$ 263	$ 43	$ (187)	$ 97	$ 579	$ 233	$ 1,549	$ 722

Note 10 - Income Taxes - Deferr

Note 10 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Depreciation of property and equipment	$ 580	$ 580
Intangibles	311	279
Inventories	182	186
Accrued vacation pay and stock-based compensation	161	151
Net operating loss ("NOL") (state and foreign)	71	264
Allowance for doubtful accounts	55	55
Acquisition costs	28	31
Accrued warranty	9	5
Other	7	13
Total	1,404	1,564
Valuation allowance	0	(15)
Deferred tax assets	1,404	1,549
Deferred tax liabilities:
Net intangible assets	(212)	(222)
Unremitted earnings of foreign subsidiaries	(82)	(82)
Deferred tax liabilities	(294)	(304)
Net deferred tax assets	$ 1,110	$ 1,245

Note 10 - Income Taxes - Effect

Note 10 - Income Taxes - Effective Tax Rate Analysis and Reconciliation of Expected Statutory Rate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Expected income tax provision at U.S. statutory rate									$ 1,430	$ 878
Increase (decrease) in tax from:
Foreign income tax rate differences									(258)	(64)
Current year tax credits (foreign and research)									(140)	(207)
Domestic production activities deduction									(112)	(68)
Changes in valuation allowance									(15)	(85)
Deemed dividend from foreign subsidiaries									396	151
NOL carryforwards utilized									180	99
Domestic tax expense, net of Federal benefit									55	33
Nondeductible expenses									14	15
Other									(1)	(30)
Income tax expense	$ 612	$ 631	$ 263	$ 43	$ (187)	$ 97	$ 579	$ 233	$ 1,549	$ 722

Note 12 - Stock-based Compens54

Note 12 - Stock-based Compensation Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 316
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	19,800	0
Restricted Stock [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 208	$ 138
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.43
Stock Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Stock Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	456,300

Note 12 - Stock-based Compens55

Note 12 - Stock-based Compensation Plan - Allocation of Share-based Compensation Expense (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Allocation of Share-based Compensation Expense	$ 269	$ 119
Cost of Sales [Member]
Allocation of Share-based Compensation Expense	10	10
Selling and Marketing Expense [Member]
Allocation of Share-based Compensation Expense	6	5
Research and Development Expense [Member]
Allocation of Share-based Compensation Expense	11	10
General and Administrative Expense [Member]
Allocation of Share-based Compensation Expense	$ 242	$ 94

Note 12 - Stock-based Compens56

Note 12 - Stock-based Compensation - Stock Options Valuation Assumptions (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2016
Risk-free interest rate	1.30%
Dividend yield	0.00%
Expected common stock market price volatility factor	0.40%
Weighted average expected life of stock options (years) (Year)	4 years

Note 12 - Stock-based Compens57

Note 12 - Stock-based Compensation Plan - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Options outstanding (in shares)	0
Options outstanding (in dollars per share)	$ 0
Granted (in shares)	19,800	0
Granted (in dollars per share)	$ 4.37
Exercised (in shares)	0
Exercised (in dollars per share)	$ 0
Canceled (in shares)	0
Canceled (in dollars per share)	$ 0
Options outstanding (in shares)	19,800	0
Options outstanding (in dollars per share)	$ 4.37	$ 0

Note 12 - Stock-based Compens58

Note 12 - Stock-based Compensation Plan - Stock Option Activity (Details) (Parentheticals) shares in Thousands	Dec. 31, 2016shares
Options exercisable (in shares)	0

Note 12 - Stock-based Compens59

Note 12 - Stock-based Compensation Plan - Nonvested Shares (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Unvested shares outstanding (in shares)	63,750	101,875
Unvested shares outstanding (in dollars per share)	$ 3.64	$ 3.66
Granted (in shares)	86,400	0
Granted (in dollars per share)	$ 4.27	$ 0
Vested (in shares)	(53,125)	(33,125)
Vested (in dollars per share)	$ 3.94	$ 3.65
Forfeited (in shares)	0	(5,000)
Forfeited (in dollars per share)	$ 0	$ 3.97
Unvested shares outstanding (in shares)	97,025	63,750
Unvested shares outstanding (in dollars per share)	$ 4.04	$ 3.64

Note 13 - Stock Repurchase Pl60

Note 13 - Stock Repurchase Plan (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Oct. 27, 2015
Stock Repurchase Program, Authorized Amount				$ 5,000
Stock Repurchased and Retired During Period, Shares	283,137	241,805	41,332
Stock Repurchased and Retired During Period, Value	$ 1,133	$ 978	$ 155
Payments for Brokerage Fees	$ 7

Note 14 - Employee Benefit Pl61

Note 14 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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	$ 347	$ 329

Note 15 - Segment Information62

Note 15 - Segment Information (Details Textual)	12 Months Ended
	Dec. 31, 2016
Number of Reportable Segments	3

Note 15 - Segment Information -

Note 15 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net revenues from unaffiliated customers	$ 10,272	$ 10,823	$ 10,485	$ 8,647	$ 7,939	$ 9,203	$ 11,559	$ 10,188	$ 40,227	$ 38,889
Depreciation/amortization									599	754
Operating income (loss)									4,146	2,562
Earnings (loss) before income tax expense (benefit)	1,613	1,721	749	124	(154)	407	1,659	671	4,207	2,583
Income tax expense (benefit)	612	631	263	43	(187)	97	579	233	1,549	722
Net earnings (loss)	$ 1,001	$ 1,090	$ 486	$ 81	$ 33	$ 310	$ 1,080	$ 438	2,658	1,861
Capital expenditures									339	599
Thermal Products [Member]
Net revenues from unaffiliated customers									24,033	24,084
Depreciation/amortization									440	581
Operating income (loss)									4,210	4,517
Earnings (loss) before income tax expense (benefit)									4,193	4,479
Income tax expense (benefit)									1,544	1,252
Net earnings (loss)									2,649	3,227
Capital expenditures									262	389
Mechanical Products [Member]
Net revenues from unaffiliated customers									8,309	7,539
Depreciation/amortization									58	79
Operating income (loss)									(74)	(1,902)
Earnings (loss) before income tax expense (benefit)									(72)	(1,874)
Income tax expense (benefit)									(26)	(524)
Net earnings (loss)									(46)	(1,350)
Capital expenditures									44	101
Electrical Products [Member]
Net revenues from unaffiliated customers									7,885	7,266
Depreciation/amortization									101	94
Operating income (loss)									1,063	673
Earnings (loss) before income tax expense (benefit)									1,093	704
Income tax expense (benefit)									402	197
Net earnings (loss)									691	507
Capital expenditures									33	109
Corporate Segment [Member]
Operating income (loss)									(1,053)	(726)
Earnings (loss) before income tax expense (benefit)									(1,007)	(726)
Income tax expense (benefit)									(371)	(203)
Net earnings (loss)									$ (636)	$ (523)

Note 15 - Segment Information64

Note 15 - Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Identifiable assets:
Identifiable Assets	$ 42,844	$ 39,984
Thermal Products [Member]
Identifiable assets:
Identifiable Assets	19,893	16,983
Mechanical Products [Member]
Identifiable assets:
Identifiable Assets	18,359	19,733
Electrical Products [Member]
Identifiable assets:
Identifiable Assets	$ 4,592	$ 3,268

Note 15 - Segment Information65

Note 15 - Segment Information - Net Revenue from Unaffiliated Customers (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net revenues	$ 10,272	$ 10,823	$ 10,485	$ 8,647	$ 7,939	$ 9,203	$ 11,559	$ 10,188	$ 40,227	$ 38,889
UNITED STATES
Net revenues									13,061	14,294
Foreign [Member]
Net revenues									$ 27,166	$ 24,595

Note 15 - Segment Information66

Note 15 - Segment Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property and Equipment	$ 944	$ 1,112
UNITED STATES
Property and Equipment	691	797
Foreign [Member]
Property and Equipment	$ 253	$ 315

Note 16 - Quarterly Consolida67

Note 16 - Quarterly Consolidated Financial Data - Quarterly Consolidated Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net revenues	$ 10,272	$ 10,823	$ 10,485	$ 8,647	$ 7,939	$ 9,203	$ 11,559	$ 10,188	$ 40,227	$ 38,889
Gross margin	5,405	5,577	5,329	4,067	3,611	4,323	5,846	4,918	20,378	18,698
Earnings before income tax expense	1,613	1,721	749	124	(154)	407	1,659	671	4,207	2,583
Income tax expense	612	631	263	43	(187)	97	579	233	1,549	722
Net earnings	$ 1,001	$ 1,090	$ 486	$ 81	$ 33	$ 310	$ 1,080	$ 438	$ 2,658	$ 1,861
Net earnings per common share - basic (in dollars per share)	$ 0.10	$ 0.11	$ 0.05	$ 0.01	$ 0	$ 0.03	$ 0.10	$ 0.04	$ 0.26	$ 0.18
Weighted average common shares outstanding - basic (in shares)	10,273,702	10,295,447	10,295,836	10,390,002	10,481,612	10,473,928	10,471,888	10,465,414	10,313,747	10,473,210
Net earnings per common share - diluted (in dollars per share)	$ 0.10	$ 0.11	$ 0.05	$ 0.01	$ 0	$ 0.03	$ 0.10	$ 0.04	$ 0.26	$ 0.18
Weighted average common shares outstanding - diluted (in shares)	10,297,439	10,318,715	10,310,692	10,404,244	10,498,369	10,498,911	10,494,457	10,483,527	10,332,920	10,493,830