inTEST (INTT) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
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)		10,413,058
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 11,499	$ 28,611
Trade accounts receivable, net of allowance for doubtful accounts of $146 and $146, respectively	10,225	5,377
Inventories	6,033	3,676
Prepaid expenses and other current assets	714	342
Total current assets	28,471	38,006
Property and equipment:
Machinery and equipment	4,993	4,383
Leasehold improvements	730	603
Gross property and equipment	5,723	4,986
Less: accumulated depreciation	(4,179)	(4,042)
Net property and equipment	1,544	944
Deferred tax assets		1,110
Goodwill	13,738	1,706
Intangible assets, net	16,259	875
Restricted certificates of deposit	175	175
Other assets	27	28
Total assets	60,214	42,844
Current liabilities:
Accounts payable	2,363	1,368
Accrued wages and benefits	2,218	1,588
Accrued rent	530	572
Accrued professional fees	682	419
Accrued sales commissions	476	287
Customer deposits and deferred revenue	1,111	74
Domestic and foreign income taxes payable	1,087	575
Current portion of contingent consideration liability
Other current liabilities	400	173
Total current liabilities	8,867	5,056
Deferred tax liabilities	4,010
Contingent consideration liability, net of current portion	3,574
Total liabilities	16,451	5,056
Commitments and Contingencies
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; 10,444,135 and 10,394,018 shares issued, respectively	104	104
Addtional paid-in capital	25,808	25,578
Retained earnings	17,212	11,671
Accumulated other comprehensive earnings	843	639
Treasury stock, at cost; 33,077 and 33,077 shares, respectively	(204)	(204)
Total stockholders' equity	43,763	37,788
Total liabilities and stockholders' equity	$ 60,214	$ 42,844

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
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)	10,444,135	10,394,018
Treasury stock, at cost, shares (in shares)	33,077	33,077

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net revenues	$ 17,352	$ 10,823	$ 47,420	$ 29,955
Cost of revenues	8,556	5,246	22,475	14,982
Gross margin	8,796	5,577	24,945	14,973
Operating expenses:
Selling expense	2,322	1,394	5,861	4,200
Engineering and product development expense	1,139	905	3,056	2,878
General and administrative expense	3,143	1,574	8,423	5,364
Adjustment to contingent consideration liability	(549)	0	(549)
Total operating expenses	6,055	3,873	16,791	12,442
Operating income	2,741	1,704	8,154	2,531
Other income	100	17	195	63
Earnings before income tax expense	2,841	1,721	8,349	2,594
Income tax expense	823	631	2,808	937
Net earnings	$ 2,018	$ 1,090	$ 5,541	$ 1,657
Net earnings per common share - basic (in dollars per share)	$ 0.20	$ 0.11	$ 0.54	$ 0.16
Weighted average common shares outstanding - basic (in shares)	10,288,325	10,295,447	10,276,682	10,327,095
Net earnings per common share - diluted (in dollars per share)	$ 0.19	$ 0.11	$ 0.54	$ 0.16
Weighted average common shares and common share equivalents outstanding - diluted (in shares)	10,351,009	10,318,715	10,327,080	10,344,747

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net earnings	$ 2,018	$ 1,090	$ 5,541	$ 1,657
Foreign currency translation adjustments	21	(6)	204	35
Comprehensive earnings	$ 2,039	$ 1,084	$ 5,745	$ 1,692

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - 9 months ended Sep. 30, 2017 - 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, 2016	10,394,018					10,394,018
Balance at Dec. 31, 2016	$ 104	$ 25,578	$ 11,671	$ 639	$ (204)	$ 37,788
Net earnings			5,541			5,541
Other comprehensive income				204		204
Amortization of deferred compensation related to stock-based awards		292				$ 292
Issuance of unvested shares of restricted stock (in shares)	64,000
Repurchase and retirement of common stock (in shares)	(13,883)					(13,883)
Repurchase and retirement of common stock		(62)				$ (62)
Balance (in shares) at Sep. 30, 2017	10,444,135					10,444,135
Balance at Sep. 30, 2017	$ 104	$ 25,808	$ 17,212	$ 843	$ (204)	$ 43,763

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 5,541	$ 1,657
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	1,317	451
Adjustment to contingent consideration liability	(549)
Provision for excess and obsolete inventory	161	184
Foreign exchange gain	(130)	(7)
Amortization of deferred compensation related to stock-based awards	292	222
(Gain) loss on sale of property and equipment	(4)	3
Proceeds from sale of demonstration equipment, net of gain	53	128
Deferred income tax expense (benefit)	(225)	141
Changes in assets and liabilities:
Trade accounts receivable	(1,060)	(2,252)
Inventories	(581)	(57)
Prepaid expenses and other current assets	(164)	183
Restricted certificates of deposit		125
Other assets	1
Accounts payable	(426)	343
Accrued wages and benefits	(18)	47
Accrued rent	(42)	(100)
Accrued professional fees	177	64
Accrued sales commissions	83	74
Customer deposits and deferred revenue	302	(74)
Domestic and foreign income taxes payable	472	523
Other current liabilities	(12)	86
Net cash provided by operating activities	5,188	1,741
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of business, net of cash acqured	(21,962)
Purchase of property and equipment	(435)	(282)
Proceeds from sale of property and equipment	35
Net cash used in investing activities	(22,362)	(282)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchases of common stock	(62)	(841)
Net cash used in financing activities	(62)	(841)
Effects of exchange rates on cash	124	17
Net cash provided by (used in) all activities	(17,112)	635
Cash and cash equivalents at beginning of period	28,611	25,710
Cash and cash equivalents at end of period	11,499	26,345
Cash payments for:
Domestic and foreign income taxes	2,555	25
Goodwill resulting from acquisition	12,032
Net cash paid for acquisition	21,962
Ambrell [Member]
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of business, net of cash acqured	(21,962)
Cash payments for:
Fair value of assets acquired, net of cash	22,652
Liabilities assumed	(8,599)
Goodwill resulting from acquisition	12,032
Contingent consideration	(4,123)
Net cash paid for acquisition	$ 21,962

Note 1 - Nature of Operations

Note 1 - Nature of Operations	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	( 1 NATURE OF OPERATIONS We are an independent designer, manufacturer and marketer of thermal management products and semiconductor automatic test equipment (“ATE”) interface solutions. Our products are used by semiconductor manufacturers to perform development, qualifying and final testing of integrated circuits (“ICs”) and wafers, and for other electronic test across a range of industries including the automotive, defense/aerospace, energy, industrial and telecommunications markets. We also offer induction heating products for joining and forming metals in a variety of industrial markets, including automotive, aerospace, machinery, wire & fasteners, medical, semiconductor, food & beverage, and packaging. We manufacture our products in the U.S. Marketing and support activities are conducted worldwide from our facilities in the U.S., Germany, Singapore, the Netherlands and the U.K. The consolidated entity is comprised of inTEST Corporation and our wholly-owned subsidiaries. 2016, three two first 2016 3 10 December 31, 2016 March 27, 2017 ( "2016 10 January 1, 2017, two 2017. May 24, 2017, 3. not may may may not may not may not may

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates The accompanying consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires us 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. Actual results could differ from those estimates. Certain of our accounts, including inventories, long-lived assets, goodwill, identifiable intangibles, contingent consideration liabilities and deferred tax assets and liabilities, including related valuation allowances, are particularly impacted by estimates. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position, results of operations, and changes in cash flows for the interim periods presented. Certain footnote information has been condensed or omitted from these consolidated financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our 2016 10 Reclassification Business Combinations third Fair Value Measurements three 3, 3 4 Inventories first first not not twelve three $161 $184 nine September 30, 2017 2016, Goodwill, Intangible and Long-Lived Assets We account for goodwill and intangible assets in accordance with Accounting Standards Codification ("ASC") 350 fourth may not two two not two not If we determine it is more-likely-than- not two two fourth not not no may not no Stock-Based Compensation 718 9. Subsequent Events We have made an assessment of our operations and determined that there were no nine September 30, 2017. Revenue Recognition third no not not six no Product Warranties Income Taxes not not Net Earnings Per Common Share Three Months Ended Sept ember 30, Nine Months Ended Sept ember 30, 2017 2016 2017 2016 Weighted average common shares outstanding - basic 10,288,325 10,295,447 10,276,682 10,327,095 Potentially dilutive securities: Unvested shares of restricted stock and stock options 62,684 23,268 50,398 17,652 Weighted average common shares and common share equivalents outstanding - diluted 10,351,009 10,318,715 10,327,080 10,344,747 Average number of potentially dilutive securities excluded from calculation 96,000 19,800 79,753 18,277 Effect of Recently Adopted Amendments to Authoritative Accounting Guidance In March 2016, 718 January 1, 2017. not July 2015, 330 first January 1, 2017. not Effect of Recently Issued Amendments to Authoritative Accounting Guidance May 2017, January 1, 2018. not January 2017, not January 1, 2020, January 1, 2017. not In January 2017, January 1, 2018, not November 2016, January 1, 2018, not February 2016, 842 12 January 1, 2019. May 2014, May, 2014, 606 August 2015, one January 1, 2018. January 1, 2017. January 1, 2018 fourth 2016, not

Note 3 - Acquisition

Note 3 - Acquisition	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	( 3 ACQUISITION On May 24, 2017, s our current thermal technologies and broadens our diverse customer base, allowing expansion within many non-ATE related markets, such as consumer product packaging, fiber-optics, automotive and other markets. $22,000 may 2017 2018, $880. The acquisition of Ambrell has been accounted for as a business combination using purchase accounting, and, accordingly, the results of Ambrell have been included in our consolidated results of operations from the date of acquisition. The allocation of the Ambrell purchase price was based on estimated fair values as of May 24, 2017. third The excess of the purchase price over the identifiable intangible and net tangible assets was allocated to goodwill and is not $26,733 Cash paid to acquire the capital stock of Ambrell $ 22,610 Estimated fair value of contingent consideration 4,123 Total purchase price $ 26,733 As noted above, the consideration paid for the acquisition of Ambrell includes contingent consideration in the form of earnouts based on the future adjusted EBITDA of Ambrell. Adjusted EBITDA is earnings (or loss) from operations before interest expense, benefit or provision for income taxes, depreciation and amortization, and excludes other non-recurring income and expense items as defined in the stock purchase agreement for Ambrell. The first 2017 8x 2017 $22,000 second 2018 8x 2018 $22,000 2017. 2017 2018 $18,000. $4,123, The total purchase price of $26,733 Goodwill $ 12,032 Identifiable intangible assets 16,300 Tangible assets acquired and liabilities assumed: Cash 648 Trade accounts receivable 3,621 Inventories 1,917 Other current assets 200 Property and equipment 614 Accounts payable (1,420 ) Accrued expenses (1,280 ) Customer advances (554 ) Deferred tax liability (5,345 ) Total purchase price $ 26,733 We estimated the fair value of identifiable intangible assets acquired using a combination of the income, cost and market approaches. Identifiable intangible assets acquired include customer relationships, customer backlog, technology and trademarks. 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. The following table summarizes the estimated fair value of Ambrell's identifiable intangible assets and their estimated useful lives as of the acquisition date: Fair Value Weighted Average Useful Life (in years) Finite-lived intangible assets: Customer relationships $ 9,000 9.0 Technology 600 9.0 Customer backlog 500 0.3 Total finite-lived intan gible assets 10,100 8.6 Indefinite-lived intangible assets: Trademarks 6,200 Total intangible assets $ 16,300 For the period from May 24, 2017 September 30, 2017, $6,925 earnings of $336, $549 third 2017. January 1, 2016. not may not Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net revenues $ 17,352 $ 15,458 $ 55,040 $ 44,225 Net earnings $ 2,291 $ 709 $ 6,452 $ 593 Diluted earnings per share $ 0.22 $ 0.07 $ 0.61 $ 0.06 The pro forma results shown above do not $8 80 $549 third 2017.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 4 FAIR VALUE MEASUREMENTS ASC Topic 820 ASC 820 820 three Level 1 Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. Level 2 Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Valuations based on inputs that are unobservable and significant to the overall fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by us in determining fair value is greatest for instruments categorized in Level 3. Recurring Fair Value Measurements The contingent consideration liability on our balance sheet is measured at fair value on a recurring basis using Level 3 May 24, 2017, 2017 2018, 3. 3 third 2017, $549 December 31, 2017. Amounts at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 As of September 30, 2017 Contingent consideration liability $ 3,574 $ - $ - $ 3,574 Changes in the fair value of our Level 3 three nine September 30, 2017 Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Balance at beginning of period $ 4,123 $ - Contingent consideration liability established in connection with the acquisition of Ambrell - 4,123 Fair value adjustment (549 ) (549 ) Balance at end of period $ 3,574 $ 3,574

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	( 5 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, January 2012 May 2017. Goodwill nine September 30, 2017 Sigma Thermonics Ambrell Total Balance - January 1, 2017 $ 1,656 $ 50 $ - $ 1,706 Acquisition of Ambrell - - 12,032 12,032 Balance - September 30, 2017 $ 1,656 $ 50 $ 12,032 $ 13,738 Intangible Assets Changes in the amount of the carrying value of finite-lived intangible assets for the nine September 30, 2017 Balance - January 1, 2017 $ 365 Acquisition of Ambrell 10,100 Amortization (916 ) Balance - September 30, 2017 $ 9,549 The following tables provide further detail about our intangible assets as of September 30, 2017 December 31, 2016: September 30, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 10,480 $ 1,640 $ 8,840 Technology 600 54 546 Patents 590 454 136 Software 270 243 27 Trade name 140 140 - Customer backlog 500 500 - Total finite-lived intangible assets 12,580 3,031 9,549 Indefinite-lived intangible assets: Trademarks 6,710 - 6,710 Total intangible assets $ 19,290 $ 3,031 $ 16,259 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,328 $ 152 Patents 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 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 Total amortization expense for our finite-lived intangible assets was $916 $173, nine September 30, 2017 2016. five 2017 (remainder) $ 246 2018 $ 1,102 2019 $ 1,257 2020 $ 1,233 2021 $ 1,227

Note 6 - Major Customers

Note 6 - Major Customers	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 6 MAJOR CUSTOMERS During the nine September 30, 2017 2016, 12% 11% both nine September 30, 2017 2016, one 11% 13% No 10% nine September 30, 2017 2016.

Note 7 - Inventories

Note 7 - Inventories	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 7 INVENTORIES Inventories held at September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Raw materials $ 3,892 $ 2,695 Work in process 1,013 728 Inventory consigned to others 72 81 Finished goods 1,056 172 Total inventories $ 6,033 $ 3,676

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 DEBT Letters of Credit We have issued letters of credit as the security deposits for certain of our domestic leases. These letters of credit are secured by pledged certificates of deposit which are classified as Restricted Certificates of Deposit on our balance sheets. The terms of our leases require us to renew these letters of credit at least 30 not one September 30, 2017 December 31, 2016 L/C Lease Letters of Credit Amount Outstanding Original L/C Issue Date Expiration Date Expiration Date September 30, 2017 December 31, 2016 Mt. Laurel, NJ 3/29/2010 3/31/2018 4/30/2021 $ 125 $ 125 Mansfield, MA 10/27/2010 11/08/2018 8/23/2021 50 50 $ 175 $ 175

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 9 STOCK-BASED COMPENSATION As of September 30, 2017, 12 2016 10 As of September 30, 2017, $691. 2.8 three nine September 30, 2017 2016, Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Cost of revenues $ 1 $ 2 $ 5 $ 7 Selling expense - 1 - 4 Engineering and product development expense 1 3 5 8 General and administrative expense 104 38 282 203 $ 106 $ 44 $ 292 $ 222 There was no nine September 30, 2017 2016. Restricted Stock Awards four January 2016, 22,500 100% June 2016. 2016 $98, March 2017, 22,500 25% 25% June 30, September 30, December 31, 2017. $143 2017. The following table summarizes the activity related to unvested shares of restricted stock for the nine September 30, 2017: Number of Shares Weighted Average Fair Value Unvested shares outstanding, January 1, 2017 97,025 $ 4.04 Granted 64,000 6.48 Vested (45,975 ) 4.70 Forfeited - - Unvested shares outstanding, September 30, 2017 115,050 5.13 The total fair value of the shares that vested during the nine September 30, 2017 2016 $290 $138, Stock Options No may ten four nine September 30, 2017 2016 2017 2016 Risk-free interest rate 2.14 % 1.30 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .39 .40 Weighted average expected life of stock options (years) 6 4 The per share weighted average fair value of stock options issued during the nine September 30, 2017 2016 $2.64 $1.43, The following table summarizes the activity related to stock options for the nine September 30, 2017: Number of Shares Weighted Average Fair Value Options outstanding, January 1, 2017 (none exercisable) 19,800 $ 4.37 Granted 96,000 6.35 Exercised - - Forfeited - - Options outstanding, September 30, 2017 (4,950 exercisable) 115,800 6.01

Note 10 - Stock Repurchase Plan

Note 10 - Stock Repurchase Plan	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stock Repurchase Plan [Text Block]	( 10 STOCK REPURCHASE PLAN As discussed further in our 2016 Form 10 October 27, 2015, $5,000 10b 18 1934 "2015 2015 not may 2015 nine September 30, 2017 2016, 13,883 209,271 $62 $841, September 30, 2017, 297,020 $1,195 2015

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	( 11 EMPLOYEE BENEFIT PLANS We have defined contribution 401 (“Temptronic”) and inTEST Silicon Valley Corporation who are at least 18 10% $5. four nine September 30, 2017 2016, $299 $311 one 100% 25% 2% September 30, 2017, $21.

Note 12 - Segment Information

Note 12 - Segment Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 12 SEGMENT INFORMATION As discussed in Note 1, 2016, three two January 1, 2017, two 2017. Thermal includes the operations of Temptronic, Thermonics, Sigma, inTEST Thermal Solutions GmbH (Germany), inTEST Pte, Limited (Singapore) and Ambrell, which we acquired in May 2017, 3. third Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net Revenues: Thermal $ 11,470 $ 6,641 $ 28,440 $ 17,429 EMS 5,882 4,182 18,980 12,526 $ 17,352 $ 10,823 $ 47,420 $ 29,955 Earnings (loss) before income tax expense (benefit): Thermal $ 1,539 $ 1,402 $ 4,735 $ 2,709 EMS 1,594 374 5,455 733 Corporate (292 ) (55 ) (1,841 ) (848 ) $ 2,841 $ 1,721 $ 8,349 $ 2,594 Net earnings (loss): Thermal $ 1,183 $ 888 $ 3,228 $ 1,737 EMS 1,021 236 3,471 469 Corporate (186 ) (34 ) (1,158 ) (549 ) $ 2,018 $ 1,090 $ 5,541 $ 1,657 September 30, 2017 December 31, 2016 Identifiable assets: Thermal $ 49,443 $ 19,893 EMS 10,771 22,951 $ 60,214 $ 42,844 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. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net revenues: U.S. $ 4,746 $ 3,268 $ 12,212 $ 8,898 Foreign 12,606 7,555 35,208 21,057 $ 17,352 $ 10,823 $ 47,420 $ 29,955 September 30, 2017 December 31, 2016 Property and equipment: U.S. $ 1,003 $ 691 Foreign 541 253 $ 1,544 $ 944

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis Of Presentation And Use Of Estimates [Policy Text Block]	Basis of Presentation and Use of Estimates The accompanying consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires us 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. Actual results could differ from those estimates. Certain of our accounts, including inventories, long-lived assets, goodwill, identifiable intangibles, contingent consideration liabilities and deferred tax assets and liabilities, including related valuation allowances, are particularly impacted by estimates. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position, results of operations, and changes in cash flows for the interim periods presented. Certain footnote information has been condensed or omitted from these consolidated financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our 2016 10
Reclassification, Policy [Policy Text Block]	Reclassification
Business Combinations Policy [Policy Text Block]	Business Combinations third
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements three 3, 3 4
Inventory, Policy [Policy Text Block]	Inventories first first not not twelve three $161 $184 nine September 30, 2017 2016,
Goodwill Intangible And Long Lived Assets [Policy Text Block]	Goodwill, Intangible and Long-Lived Assets We account for goodwill and intangible assets in accordance with Accounting Standards Codification ("ASC") 350 fourth may not two two not two not If we determine it is more-likely-than- not two two fourth not not no may not no
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation 718 9.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events We have made an assessment of our operations and determined that there were no nine September 30, 2017.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition third no not not six no
Standard Product Warranty, Policy [Policy Text Block]	Product Warranties
Income Tax, Policy [Policy Text Block]	Income Taxes not not
Earnings Per Share, Policy [Policy Text Block]	Net Earnings Per Common Share Three Months Ended Sept ember 30, Nine Months Ended Sept ember 30, 2017 2016 2017 2016 Weighted average common shares outstanding - basic 10,288,325 10,295,447 10,276,682 10,327,095 Potentially dilutive securities: Unvested shares of restricted stock and stock options 62,684 23,268 50,398 17,652 Weighted average common shares and common share equivalents outstanding - diluted 10,351,009 10,318,715 10,327,080 10,344,747 Average number of potentially dilutive securities excluded from calculation 96,000 19,800 79,753 18,277
New Accounting Pronouncements, Policy [Policy Text Block]	Effect of Recently Adopted Amendments to Authoritative Accounting Guidance In March 2016, 718 January 1, 2017. not July 2015, 330 first January 1, 2017. not Effect of Recently Issued Amendments to Authoritative Accounting Guidance May 2017, January 1, 2018. not January 2017, not January 1, 2020, January 1, 2017. not In January 2017, January 1, 2018, not November 2016, January 1, 2018, not February 2016, 842 12 January 1, 2019. May 2014, May, 2014, 606 August 2015, one January 1, 2018. January 1, 2017. January 1, 2018 fourth 2016, not

Note 2 - Summary of Significa21

Note 2 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended Sept ember 30, Nine Months Ended Sept ember 30, 2017 2016 2017 2016 Weighted average common shares outstanding - basic 10,288,325 10,295,447 10,276,682 10,327,095 Potentially dilutive securities: Unvested shares of restricted stock and stock options 62,684 23,268 50,398 17,652 Weighted average common shares and common share equivalents outstanding - diluted 10,351,009 10,318,715 10,327,080 10,344,747 Average number of potentially dilutive securities excluded from calculation 96,000 19,800 79,753 18,277

Note 3 - Acquisition (Tables)

Note 3 - Acquisition (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Cash paid to acquire the capital stock of Ambrell $ 22,610 Estimated fair value of contingent consideration 4,123 Total purchase price $ 26,733 Goodwill $ 12,032 Identifiable intangible assets 16,300 Tangible assets acquired and liabilities assumed: Cash 648 Trade accounts receivable 3,621 Inventories 1,917 Other current assets 200 Property and equipment 614 Accounts payable (1,420 ) Accrued expenses (1,280 ) Customer advances (554 ) Deferred tax liability (5,345 ) Total purchase price $ 26,733
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Fair Value Weighted Average Useful Life (in years) Finite-lived intangible assets: Customer relationships $ 9,000 9.0 Technology 600 9.0 Customer backlog 500 0.3 Total finite-lived intan gible assets 10,100 8.6 Indefinite-lived intangible assets: Trademarks 6,200 Total intangible assets $ 16,300
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net revenues $ 17,352 $ 15,458 $ 55,040 $ 44,225 Net earnings $ 2,291 $ 709 $ 6,452 $ 593 Diluted earnings per share $ 0.22 $ 0.07 $ 0.61 $ 0.06

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Amounts at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 As of September 30, 2017 Contingent consideration liability $ 3,574 $ - $ - $ 3,574
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Balance at beginning of period $ 4,123 $ - Contingent consideration liability established in connection with the acquisition of Ambrell - 4,123 Fair value adjustment (549 ) (549 ) Balance at end of period $ 3,574 $ 3,574

Note 5 - Goodwill and Intangi24

Note 5 - Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Sigma Thermonics Ambrell Total Balance - January 1, 2017 $ 1,656 $ 50 $ - $ 1,706 Acquisition of Ambrell - - 12,032 12,032 Balance - September 30, 2017 $ 1,656 $ 50 $ 12,032 $ 13,738
Schedule of Carrying Value of Finite-lived Intangible Assets [Table Text Block]	Balance - January 1, 2017 $ 365 Acquisition of Ambrell 10,100 Amortization (916 ) Balance - September 30, 2017 $ 9,549
Schedule Of Intangible Assets [Table Text Block]	September 30, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 10,480 $ 1,640 $ 8,840 Technology 600 54 546 Patents 590 454 136 Software 270 243 27 Trade name 140 140 - Customer backlog 500 500 - Total finite-lived intangible assets 12,580 3,031 9,549 Indefinite-lived intangible assets: Trademarks 6,710 - 6,710 Total intangible assets $ 19,290 $ 3,031 $ 16,259 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 1,480 $ 1,328 $ 152 Patents 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
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2017 (remainder) $ 246 2018 $ 1,102 2019 $ 1,257 2020 $ 1,233 2021 $ 1,227

Note 7 - Inventories (Tables)

Note 7 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2017 December 31, 2016 Raw materials $ 3,892 $ 2,695 Work in process 1,013 728 Inventory consigned to others 72 81 Finished goods 1,056 172 Total inventories $ 6,033 $ 3,676

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule Of Outstanding Letters Of Credit [Table Text Block]	L/C Lease Letters of Credit Amount Outstanding Original L/C Issue Date Expiration Date Expiration Date September 30, 2017 December 31, 2016 Mt. Laurel, NJ 3/29/2010 3/31/2018 4/30/2021 $ 125 $ 125 Mansfield, MA 10/27/2010 11/08/2018 8/23/2021 50 50 $ 175 $ 175

Note 9 - Stock-based Compensa27

Note 9 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Cost of revenues $ 1 $ 2 $ 5 $ 7 Selling expense - 1 - 4 Engineering and product development expense 1 3 5 8 General and administrative expense 104 38 282 203 $ 106 $ 44 $ 292 $ 222
Schedule of Nonvested Share Activity [Table Text Block]	Number of Shares Weighted Average Fair Value Unvested shares outstanding, January 1, 2017 97,025 $ 4.04 Granted 64,000 6.48 Vested (45,975 ) 4.70 Forfeited - - Unvested shares outstanding, September 30, 2017 115,050 5.13
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2017 2016 Risk-free interest rate 2.14 % 1.30 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .39 .40 Weighted average expected life of stock options (years) 6 4
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted Average Fair Value Options outstanding, January 1, 2017 (none exercisable) 19,800 $ 4.37 Granted 96,000 6.35 Exercised - - Forfeited - - Options outstanding, September 30, 2017 (4,950 exercisable) 115,800 6.01

Note 12 - Segment Information (

Note 12 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net Revenues: Thermal $ 11,470 $ 6,641 $ 28,440 $ 17,429 EMS 5,882 4,182 18,980 12,526 $ 17,352 $ 10,823 $ 47,420 $ 29,955 Earnings (loss) before income tax expense (benefit): Thermal $ 1,539 $ 1,402 $ 4,735 $ 2,709 EMS 1,594 374 5,455 733 Corporate (292 ) (55 ) (1,841 ) (848 ) $ 2,841 $ 1,721 $ 8,349 $ 2,594 Net earnings (loss): Thermal $ 1,183 $ 888 $ 3,228 $ 1,737 EMS 1,021 236 3,471 469 Corporate (186 ) (34 ) (1,158 ) (549 ) $ 2,018 $ 1,090 $ 5,541 $ 1,657
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net revenues: U.S. $ 4,746 $ 3,268 $ 12,212 $ 8,898 Foreign 12,606 7,555 35,208 21,057 $ 17,352 $ 10,823 $ 47,420 $ 29,955
Long-lived Assets by Geographic Areas [Table Text Block]	September 30, 2017 December 31, 2016 Property and equipment: U.S. $ 1,003 $ 691 Foreign 541 253 $ 1,544 $ 944
Asset [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	September 30, 2017 December 31, 2016 Identifiable assets: Thermal $ 49,443 $ 19,893 EMS 10,771 22,951 $ 60,214 $ 42,844

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Number of Reportable Segments	2	3

Note 2 - Summary of Significa30

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Inventory Write-down	$ 161	$ 184
Thermal Products and Mechanical Products [Member]
Equipment Leased To Customers Initial Term	180 days

Note 2 - Summary of Significa31

Note 2 - Summary of Significant Accounting Policies - Weighted Average Common Shares (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Weighted average common shares outstanding - basic (in shares)	10,288,325	10,295,447	10,276,682	10,327,095
Potentially dilutive securities:
Unvested shares of restricted stock and stock options (in shares)	62,684	23,268	50,398	17,652
Weighted average common shares and common share equivalents outstanding - diluted (in shares)	10,351,009	10,318,715	10,327,080	10,344,747
Average number of potentially dilutive securities excluded from calculation (in shares)	96,000	19,800	79,753	18,277

Note 3 - Acquisition (Details T

Note 3 - Acquisition (Details Textual) - USD ($) $ in Thousands	May 24, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ (549)	$ 0		$ (549)
Ambrell [Member]
Payments to Acquire Businesses, Gross	$ 22,610
Business Acquisition, Transaction Costs	880
Business Combination, Consideration Transferred	26,733
Business Combination, Contingent Consideration, Liability	4,123
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				$ 6,925
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ 336
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ (549)
Ambrell [Member] | Aggregate Total Payout [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 18,000

Note 3 - Acquisition - Purchase

Note 3 - Acquisition - Purchase Price (Details) - USD ($) $ in Thousands	May 24, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Goodwill		$ 13,738		$ 1,706
Ambrell [Member]
Cash paid to acquire the capital stock of Ambrell	$ 22,610
Estimated fair value of contingent consideration	4,123	4,123
Total purchase price	26,733
Goodwill	12,032	$ 12,032
Identifiable intangible assets	16,300
Cash	648
Trade accounts receivable	3,621
Inventories	1,917
Other current assets	200
Property and equipment	614
Accounts payable	(1,420)
Accrued expenses	(1,280)
Customer advances	(554)
Deferred tax liability	(5,345)
Total purchase price	$ 26,733

Note 3 - Acquisition - Intangib

Note 3 - Acquisition - Intangible Assets Acquired (Details) - USD ($) $ in Thousands	May 24, 2017	Sep. 30, 2017
Finite-lived intangible assets		$ 10,100
Acquisition of Ambrell		$ 10,100
Ambrell [Member]
Finite-lived intangible assets	$ 10,100
Finite-lived intangible assets, weighted average estimated useful life (Year)	8 years 219 days
Acquisition of Ambrell	$ 10,100
Identifiable intangible assets	16,300
Ambrell [Member] | Trademarks [Member]
Indefinite-lived intangible assets	6,200
Ambrell [Member] | Customer Relationships [Member]
Finite-lived intangible assets	$ 9,000
Finite-lived intangible assets, weighted average estimated useful life (Year)	9 years
Acquisition of Ambrell	$ 9,000
Ambrell [Member] | Patented Technology [Member]
Finite-lived intangible assets	$ 600
Finite-lived intangible assets, weighted average estimated useful life (Year)	9 years
Acquisition of Ambrell	$ 600
Ambrell [Member] | Order or Production Backlog [Member]
Finite-lived intangible assets	$ 500
Finite-lived intangible assets, weighted average estimated useful life (Year)	109 days
Acquisition of Ambrell	$ 500

Note 3 - Acquisition - Proforma

Note 3 - Acquisition - Proforma Information (Details) - Ambrell [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net revenues	$ 17,352	$ 15,458	$ 55,040	$ 44,225
Net earnings	$ 2,291	$ 709	$ 6,452	$ 593
Diluted earnings per share (in dollars per share)	$ 0.22	$ 0.07	$ 0.61	$ 0.06

Note 4 - Fair Value Measureme36

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ (549)	$ 0	$ (549)
Ambrell [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ (549)

Note 4 - Fair Value Measureme37

Note 4 - Fair Value Measurements - Liabilities Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] $ in Thousands	Sep. 30, 2017USD ($)
Contingent consideration liability	$ 3,574
Fair Value, Inputs, Level 1 [Member]
Contingent consideration liability
Fair Value, Inputs, Level 2 [Member]
Contingent consideration liability
Fair Value, Inputs, Level 3 [Member]
Contingent consideration liability	$ 3,574

Note 4 - Fair Value Measureme38

Note 4 - Fair Value Measurements - Change in Fair Value of Contingent Consideration Liability (Details) - Contingent Consideration Liability [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Balance at beginning of period	$ 4,123
Contingent consideration liability established in connection with the acquisition of Ambrell		4,123
Fair value adjustment	(549)	(549)
Balance at end of period	$ 3,574	$ 3,574

Note 5 - Goodwill and Intangi39

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Amortization of Intangible Assets	$ 916	$ 173

Note 5 - Goodwill and Intangi40

Note 5 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Balance	$ 1,706
Acquisition of Ambrell	12,032
Balance	13,738
Sigma [Member]
Balance	1,656
Balance	1,656
Thermonics [Member]
Balance	50
Balance	50
Ambrell [Member]
Balance
Acquisition of Ambrell	12,032
Balance	$ 12,032

Note 5 - Goodwill and Intangi41

Note 5 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Balance	$ 365
Acquisition of Ambrell	10,100
Amortization	(916)	$ (173)
Balance	$ 9,549

Note 5 - Goodwill and Intangi42

Note 5 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-lived, Gross Carrying Amount	$ 12,580	$ 2,480
Finite-lived, Accumulated Amortization	3,031	2,115
Net Carrying Amount	9,549	365
Intangible Assets, Gross Carrying Amount	19,290	2,990
Net Carrying Amount	16,259	875
Trademarks [Member]
Indefinite-lived, Gross Carrying Amount	6,710	510
Net Carrying Amount	6,710	510
Indefinite-lived, Gross Carrying Amount	6,710	510
Customer Relationships [Member]
Finite-lived, Gross Carrying Amount	10,480	1,480
Finite-lived, Accumulated Amortization	1,640	1,328
Net Carrying Amount	8,840	152
Patented Technology [Member]
Finite-lived, Gross Carrying Amount	600
Finite-lived, Accumulated Amortization	54
Net Carrying Amount	546
Patents [Member]
Finite-lived, Gross Carrying Amount	590	590
Finite-lived, Accumulated Amortization	454	424
Net Carrying Amount	136	166
Computer Software, Intangible Asset [Member]
Finite-lived, Gross Carrying Amount	270	270
Finite-lived, Accumulated Amortization	243	223
Net Carrying Amount	27	47
Trade Names [Member]
Finite-lived, Gross Carrying Amount	140	140
Finite-lived, Accumulated Amortization	140	140
Net Carrying Amount
Order or Production Backlog [Member]
Finite-lived, Gross Carrying Amount	500
Finite-lived, Accumulated Amortization	500
Net Carrying Amount

Note 5 - Goodwill and Intangi43

Note 5 - Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2017USD ($)
2017 (remainder)	$ 246
2,018	1,102
2,019	1,257
2,020	1,233
2,021	$ 1,227

Note 6 - Major Customers (Detai

Note 6 - Major Customers (Details Textual)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Number of Operating Segments	2
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Texas Instruments Incorporated [Member]
Concentration Risk, Percentage	12.00%	11.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Hakuto Co Ltd [Member]
Concentration Risk, Percentage	11.00%	13.00%

Note 7 - Inventories - Inventor

Note 7 - Inventories - Inventories Held (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Raw materials	$ 3,892	$ 2,695
Work in process	1,013	728
Inventory consigned to others	72	81
Finished goods	1,056	172
Total inventories	$ 6,033	$ 3,676

Note 8 - Debt - Outstanding Let

Note 8 - Debt - Outstanding Letters of Credit (Details) - Letter of Credit [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Letters of Credit Amount Outstanding	$ 175	$ 175
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	125
Mansfield [Member]
Line of Credit, Issue Date	Oct. 27, 2010
Line of Credit, ExpirationDate	Nov. 8, 2018
Lease Expiration Date	Aug. 23, 2021
Letters of Credit Amount Outstanding	$ 50	$ 50

Note 9 - Stock-based Compensa47

Note 9 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		10 Months Ended
	Mar. 31, 2017	Jan. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2017
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 691		$ 691
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 292 days
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, Grants in Period					64,000
Allocated Share-based Compensation Expense			$ 106	$ 44	$ 292	222
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value					$ 290	$ 138
Restricted Stock [Member] | Independent Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	22,500	22,500
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100.00%
Allocated Share-based Compensation Expense		$ 98
Restricted Stock [Member] | Independent Directors [Member] | Scenario, Forecast [Member]
Allocated Share-based Compensation Expense							$ 143
Restricted Stock [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Restricted Stock [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Restricted Stock [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Restricted Stock [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 2.64	$ 1.43

Note 9 - Stock-based Compensa48

Note 9 - Stock-based Compensation - Allocation of Share-based Compensation Expense (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Allocated Share-based Compensation Expense	$ 106	$ 44	$ 292	$ 222
Cost of Sales [Member]
Allocated Share-based Compensation Expense	1	2	5	7
Selling and Marketing Expense [Member]
Allocated Share-based Compensation Expense		1		4
Research and Development Expense [Member]
Allocated Share-based Compensation Expense	1	3	5	8
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense	$ 104	$ 38	$ 282	$ 203

Note 9 - Stock-based Compensa49

Note 9 - Stock-based Compensation - Nonvested Shares (Details) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Unvested shares outstanding (in shares) | shares	97,025
Unvested shares outstanding (in dollars per share) | $ / shares	$ 4.04
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	64,000
Granted (in dollars per share) | $ / shares	$ 6.48
Vested (in shares) | shares	(45,975)
Vested (in dollars per share) | $ / shares	$ 4.70
Forfeited (in shares) | shares
Forfeited (in dollars per share) | $ / shares
Unvested shares outstanding (in shares) | shares	115,050
Unvested shares outstanding (in dollars per share) | $ / shares	$ 5.13

Note 9 - Stock-based Compensa50

Note 9 - Stock-based Compensation - Stock Options Valuation Assumptions (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Risk-free interest rate	2.14%	1.30%
Dividend yield	0.00%	0.00%
Expected common stock market price volatility factor	0.39%	0.40%
Weighted average expected life of stock options (years) (Year)	6 years	4 years

Note 9 - Stock-based Compensa51

Note 9 - Stock-based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Options outstanding, Number of shares (in shares) | shares	19,800
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.37
Granted, Number of shares (in shares) | shares	96,000
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.35
Options outstanding, Number of shares (in shares) | shares	115,800
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.01

Note 9 - Stock-based Compensa52

Note 9 - Stock-based Compensation - Stock Option Activity (Details) (Parentheticals) - shares	Sep. 30, 2017	Dec. 31, 2016
Options exercisable (in shares)	4,950	0

Note 10 - Stock Repurchase Pl53

Note 10 - Stock Repurchase Plan (Details Textual) - USD ($) $ in Thousands	9 Months Ended		23 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Oct. 27, 2015
Stock Repurchase Program, Authorized Amount				$ 5,000
Stock Repurchased and Retired During Period, Shares	13,883	209,271	297,020
Stock Repurchased and Retired During Period, Value	$ 62	$ 841	$ 1,195

Note 11 - Employee Benefit Pl54

Note 11 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	4 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
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		$ 299	$ 311
The Ambrell Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 21
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	25.00%

Note 12 - Segment Information55

Note 12 - Segment Information (Details Textual)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Number of Reportable Segments	2	3

Note 12 - Segment Information -

Note 12 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net revenues	$ 17,352	$ 10,823	$ 47,420	$ 29,955
Earnings before income tax expense	2,841	1,721	8,349	2,594
Net earnings	2,018	1,090	5,541	1,657
Corporate, Non-Segment [Member]
Earnings before income tax expense	(292)	(55)	(1,841)	(848)
Net earnings	(186)	(34)	(1,158)	(549)
Thermal Products [Member] | Operating Segments [Member]
Net revenues	11,470	6,641	28,440	17,429
Earnings before income tax expense	1,539	1,402	4,735	2,709
Net earnings	1,183	888	3,228	1,737
EMS [Member] | Operating Segments [Member]
Net revenues	5,882	4,182	18,980	12,526
Earnings before income tax expense	1,594	374	5,455	733
Net earnings	$ 1,021	$ 236	$ 3,471	$ 469

Note 12 - Segment Information57

Note 12 - Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Identifiable assets:
Identifiable Assets	$ 60,214	$ 42,844
Thermal Products [Member]
Identifiable assets:
Identifiable Assets	49,443	19,893
EMS [Member]
Identifiable assets:
Identifiable Assets	$ 10,771	$ 22,951

Note 12 - Segment Information58

Note 12 - Segment Information - Net Revenue From Unaffiliated Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 17,352	$ 10,823	$ 47,420	$ 29,955
UNITED STATES
Revenues	4,746	3,268	12,212	8,898
Foreign [Member]
Revenues	$ 12,606	$ 7,555	$ 35,208	$ 21,057

Note 12 - Segment Information59

Note 12 - Segment Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property and Equipment	$ 1,544	$ 944
UNITED STATES
Property and Equipment	1,003	691
Foreign [Member]
Property and Equipment	$ 541	$ 253