inTEST (INTT) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Document Information [Line Items]
Entity Central Index Key	0001036262
Entity Registrant Name	INTEST CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-36117
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2370659
Entity Address, Address Line One	804 East Gate Drive, Suite 200
Entity Address, City or Town	Mt. Laurel
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08054
City Area Code	856
Local Phone Number	505-8800
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	INTT
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,020,400

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 10,543	$ 21,195
Short term investments	3,485	0
Trade accounts receivable, net of allowance for doubtful accounts of $210 and $213, respectively	22,489	16,536
Inventories	17,519	12,863
Prepaid expenses and other current assets	1,550	1,483
Total current assets	55,586	52,077
Property and equipment:
Machinery and equipment	6,076	5,733
Leasehold improvements	3,206	3,001
Gross property and equipment	9,282	8,734
Less: accumulated depreciation	(6,324)	(6,046)
Net property and equipment	2,958	2,688
Right-of-use assets, net	5,320	5,919
Goodwill	21,720	21,448
Net Carrying Amount	19,907	21,634
Restricted certificates of deposit	100	100
Other assets	434	39
Total assets	106,025	103,905
Current liabilities:
Current portion of Term Note	4,100	4,100
Current portion of operating lease liabilities	1,419	1,371
Accounts payable	7,802	4,281
Accrued wages and benefits	3,090	4,080
Accrued professional fees	573	1,048
Customer deposits and deferred revenue	5,701	6,038
Accrued sales commissions	1,077	863
Domestic and foreign income taxes payable	1,536	2,024
Other current liabilities	1,598	1,267
Total current liabilities	26,896	25,072
Operating lease liabilities, net of current portion	4,539	5,248
Term Note, net of current portion	14,092	16,000
Deferred tax liabilities	574	1,379
Contingent consideration	1,330	930
Other liabilities	474	453
Total liabilities	47,905	49,082
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value; 20,000,000 shares authorized; 11,048,708 and 10,910,460 shares issued, respectively	110	109
Additional paid-in capital	30,974	29,931
Retained earnings	27,086	24,393
Accumulated other comprehensive earnings	164	594
Treasury stock, at cost; 34,308 and 33,077 shares, respectively	(214)	(204)
Total stockholders' equity	58,120	54,823
Total liabilities and stockholders' equity	$ 106,025	$ 103,905

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 210	$ 213
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)	11,048,708	10,910,460
Treasury stock, shares (in shares)	34,308	33,077

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 29,571	$ 21,820	$ 53,652	$ 41,376
Cost of revenue	16,023	10,858	29,091	20,893
Gross profit	13,548	10,962	24,561	20,483
Operating expenses:
Selling expense	4,033	2,605	7,489	5,008
Engineering and product development expense	1,859	1,356	3,783	2,678
General and administrative expense	4,928	3,769	9,759	6,930
Restructuring and other charges	0	197	0	252
Total operating expenses	10,820	7,927	21,031	14,868
Operating income	2,728	3,035	3,530	5,615
Other income (expense)	(158)	21	(305)	19
Earnings before income tax expense	2,570	3,056	3,225	5,634
Income tax expense	454	447	532	813
Net earnings	$ 2,116	$ 2,609	$ 2,693	$ 4,821
Earnings per common share - basic (in dollars per share)	$ 0.20	$ 0.25	$ 0.25	$ 0.46
Weighted average common shares outstanding - basic (in shares)	10,653,268	10,442,916	10,635,270	10,386,183
Earnings per common share - diluted (in dollars per share)	$ 0.20	$ 0.24	$ 0.25	$ 0.45
Weighted average common shares and common share equivalents outstanding - diluted (in shares)	10,814,799	10,764,936	10,828,696	10,645,381

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net earnings	$ 2,116	$ 2,609	$ 2,693	$ 4,821
Unrealized gain on interest rate swap agreement	99	0	409	0
Foreign currency translation adjustments	(702)	24	(839)	(77)
Comprehensive earnings	$ 1,513	$ 2,633	$ 2,263	$ 4,744

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - 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, 2020	10,562,200
Balance at Dec. 31, 2020	$ 106	$ 26,851	$ 17,110	$ 889	$ (204)	$ 44,752
Net earnings	0	0	2,212	0	0	2,212
Other comprehensive earnings (loss)	0	0	0	(101)	0	(101)
Amortization of deferred compensation related to stock-based awards	$ 0	269	0	0	0	269
Issuance of unvested shares of restricted stock (in shares)	81,468
Issuance of unvested shares of restricted stock	$ 1	(1)	0	0	0	0
Stock options exercised (in shares)	99,740
Stock options exercised	$ 1	716	0	0	0	717
Balance (in shares) at Mar. 31, 2021	10,743,408
Balance at Mar. 31, 2021	$ 108	27,835	19,322	788	(204)	47,849
Balance (in shares) at Dec. 31, 2020	10,562,200
Balance at Dec. 31, 2020	$ 106	26,851	17,110	889	(204)	44,752
Net earnings						4,821
Balance (in shares) at Jun. 30, 2021	10,815,859
Balance at Jun. 30, 2021	$ 108	28,574	21,931	812	(204)	51,221
Balance (in shares) at Mar. 31, 2021	10,743,408
Balance at Mar. 31, 2021	$ 108	27,835	19,322	788	(204)	47,849
Net earnings	0	0	2,609	0	0	2,609
Other comprehensive earnings (loss)	0	0	0	24	0	24
Amortization of deferred compensation related to stock-based awards	$ 0	454	0	0	0	454
Issuance of unvested shares of restricted stock (in shares)	44,741
Issuance of unvested shares of restricted stock	$ 0	0	0	0	0	0
Stock options exercised (in shares)	45,835
Stock options exercised	$ 0	285	0	0	0	285
Forfeiture of unvested shares of restricted stock (in shares)	(18,125)
Forfeiture of unvested shares of restricted stock	$ 0	0	0	0	0	0
Balance (in shares) at Jun. 30, 2021	10,815,859
Balance at Jun. 30, 2021	$ 108	28,574	21,931	812	(204)	51,221
Balance (in shares) at Dec. 31, 2021	10,910,460
Balance at Dec. 31, 2021	$ 109	29,931	24,393	594	(204)	54,823
Net earnings	0	0	577	0	0	577
Other comprehensive earnings (loss)	0	0	0	173	0	173
Amortization of deferred compensation related to stock-based awards	$ 0	372	0	0	0	372
Issuance of unvested shares of restricted stock (in shares)	79,489
Issuance of unvested shares of restricted stock	$ 1	(1)	0	0	0	0
Shares issued under Employee Stock Purchase Plan (in shares)	5,245
Shares issued under Employee Stock Purchase Plan	$ 0	56	0	0	0	56
Balance (in shares) at Mar. 31, 2022	10,995,194
Balance at Mar. 31, 2022	$ 110	30,358	24,970	767	(204)	56,001
Balance (in shares) at Dec. 31, 2021	10,910,460
Balance at Dec. 31, 2021	$ 109	29,931	24,393	594	(204)	54,823
Net earnings						$ 2,693
Stock options exercised (in shares)						0
Balance (in shares) at Jun. 30, 2022	11,048,708
Balance at Jun. 30, 2022	$ 110	30,974	27,086	164	(214)	$ 58,120
Balance (in shares) at Mar. 31, 2022	10,995,194
Balance at Mar. 31, 2022	$ 110	30,358	24,970	767	(204)	56,001
Net earnings	0	0	2,116	0	0	2,116
Other comprehensive earnings (loss)	0	0	0	(603)	0	(603)
Amortization of deferred compensation related to stock-based awards	$ 0	551	0	0	0	551
Issuance of unvested shares of restricted stock (in shares)	44,044
Issuance of unvested shares of restricted stock	$ 0	0	0	0	0	0
Shares issued under Employee Stock Purchase Plan (in shares)	9,470
Shares issued under Employee Stock Purchase Plan	$ 0	65	0	0	0	65
Shares redeemed into treasury stock	$ 0	0	0	0	(10)	(10)
Balance (in shares) at Jun. 30, 2022	11,048,708
Balance at Jun. 30, 2022	$ 110	$ 30,974	$ 27,086	$ 164	$ (214)	$ 58,120

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 2,693	$ 4,821
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	2,528	1,461
Provision for excess and obsolete inventory	230	93
Foreign exchange loss	98	4
Amortization of deferred compensation related to stock-based awards	923	723
Loss on disposal of property and equipment	61	13
Deferred income tax benefit	(805)	(81)
Changes in assets and liabilities:
Trade accounts receivable	(6,607)	(4,419)
Inventories	(4,894)	(1,326)
Prepaid expenses and other current assets	(87)	246
Restricted certificates of deposit	0	40
Other assets	(395)	(6)
Operating lease liabilities	(701)	(641)
Accounts payable	3,506	1,105
Accrued wages and benefits	(981)	663
Accrued professional fees	(471)	(72)
Customer deposits and deferred revenue	(264)	499
Accrued sales commissions	219	399
Domestic and foreign income taxes payable	(477)	284
Other current liabilities	264	63
Other liabilities	61	(7)
Net cash provided by (used in) operating activities	(5,099)	3,862
CASH FLOWS FROM INVESTING ACTIVITIES
Refund of final working capital adjustment related to Acculogic	371	0
Purchase of property and equipment	(708)	(463)
Purchase of short-term investments	(3,477)	0
Net cash used in investing activities	(3,814)	(463)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock options exercised	0	1,002
Proceeds from shares sold under Employee Stock Purchase Plan	121	0
Shares redeemed into treasury stock	(10)	0
Net cash provided by (used in) financing activities	(1,797)	1,002
Effects of exchange rates on cash	58	(53)
Net cash provided by (used in) all activities	(10,652)	4,348
Cash and cash equivalents at beginning of period	21,195	10,277
Cash and cash equivalents at end of period	10,543	14,625
Cash payments for:
Domestic and foreign income taxes	1,865	610
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES:
Decrease in fair value of assets acquired	(371)
Increase in liability for contingent consideration	500
Increase in fair value of intangible assets	(49)
Increase in goodwill	(451)
Term Note [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of Term Note	$ (1,908)	$ 0

Note 1 - Nature of Operations

Note 1 - Nature of Operations	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Nature of Operations [Text Block]	( 1 NATURE OF OPERATIONS We are a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. During the year ended December 31, 2021, 16, January 1, 2022, 2022, The consolidated entity is comprised of inTEST Corporation and our wholly-owned subsidiaries. We manufacture our products in the U.S., Canada and the Netherlands. Marketing and support activities are conducted worldwide from our facilities in the U.S., Canada, Germany, Singapore, the Netherlands and the U.K. We operate our business worldwide and sell our products both domestically and internationally. All of our operating segments have multiple products that we design, manufacture and market to our customers. Due to a number of factors, our products have varying levels of gross margin. The mix of products we sell in any period is ultimately determined by our customers' needs. Therefore, the mix of products sold in any given period can change significantly from the prior period. In addition, we sell our products to a variety of different types of customers with varying levels of discounts and commission expense. As a result of changes in both the mix of products sold as well as customer mix in any given period, our consolidated gross margin can vary significantly from period to period. The semiconductor market (“semi” or the “semi market”) which includes both the broader semiconductor market, as well as the more specialized automated test equipment (“ATE”) and wafer processing sectors within the broader semiconductor market, has historically been the largest single market in which we operate. The semi market is characterized by rapid technological change, competitive pricing pressures and cyclical as well as seasonal market patterns. The semi market is also subject to periods of significant expansion or contraction in demand. In addition to the semi market, we sell into a variety of other markets. Our intention is to continue diversifying our markets, our product offerings within the markets we serve and our customer base across all of our markets with the goal of reducing our dependence on any one Our Electronic Test segment sells its products to semiconductor manufacturers and third third December 2021, Our financial results are affected by a wide variety of factors, including, but not may may may not may not may not may COVID- 19 With respect to the COVID- 19 no 19 April 2022, 19 one 19 may one two

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of 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 Form 10 December 31, 2021 ( “2021 10 March 23, 2022 Reclassification Subsequent Events no six June 30, 2022. Business Combinations third Short-term Investments Our short-term investments consist of investments in U.S. treasury bills with original maturities of six 320 4 Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, short-term investments, accounts receivable, accounts payable, accrued expenses, our credit facility, interest rate swaps and our liabilities for contingent consideration. Our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at cost which approximates fair value, due to the short maturities of the accounts. Our short-term investments are classified as held-to-maturity and carried at amortized cost. Our credit facility and our interest rate swap are discussed further below and in Note 12. 820 820 3 5 Goodwill, Intangible and Long-Lived Assets 1 16, December 31, 2021, January 1, 2022, 2022, We account for goodwill and intangible assets in accordance with ASC Topic 350 fourth may not not not not not The quantitative goodwill impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not Indefinite-lived intangible assets are assessed for impairment annually at the beginning of the fourth not not no Long-lived assets, which consist of finite-lived intangible assets, property and equipment and right-of-use (“ROU”) assets, are assessed for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not no Revenue Recognition 606 may Revenue is recorded in an amount that reflects the consideration we expect to receive in exchange for those products or services. We do not 30 90 not Nature of Products and Services We are a global supplier of innovative test and process solutions for use in manufacturing and testing in targeted markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. We sell thermal management products including ThermoStreams, ThermoChambers, process chillers, refrigerators and freezers, which we sell under our Temptronic, Sigma, Thermonics and North Sciences (formerly Z-Sciences) product lines, and Ambrell Corporation’s (“Ambrell”) precision induction heating systems, including EKOHEAT and EASYHEAT products. As a result of the acquisition of Videology, we sell industrial-grade circuit board mounted video digital cameras and related devices, systems and software. We sell semiconductor ATE interface solutions which include manipulators, docking hardware and electrical interface products. As a result of the acquisition of Acculogic, we sell robotics-based electronic production test equipment. We provide post-warranty service and support for the equipment we sell. We sell semiconductor ATE interface solutions and certain thermal management products to the semi market. We also sell many of our products to various other markets including the automotive, defense/aerospace, industrial, life sciences and security markets. We lease certain of our equipment under short-term leasing agreements with original lease terms of six not Types of Contracts with Customers Our contracts with customers are generally structured as individual purchase orders which specify the exact products or services being sold or equipment being leased along with the selling price, service fee or monthly lease amount for each individual item on the purchase order. Payment terms and any other customer-specific acceptance criteria are also specified on the purchase order. We generally do not Contract Balances We record accounts receivable at the time of invoicing. Accounts receivable, net of the allowance for doubtful accounts, is included in current assets on our balance sheet. To the extent that we do not The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, if any, historical experience, and other currently available evidence. Costs to Obtain a Contract with a Customer The only costs we incur associated with obtaining contracts with customers are sales commissions that we pay to our internal sales personnel or third third not Product Warranties In connection with the sale of our products, we generally provide standard one two not not See Notes 8 16 Inventories Inventories are valued at cost on a first first not three not twenty-four Leases We account for leases in accordance with ASC Topic 842 may not not 842. not ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. None may not We have lease agreements which contain both lease and non-lease components, which are generally accounted for separately. In addition to the monthly rental payments due, most of our leases for our offices and warehouse facilities include non-lease components representing our portion of the common area maintenance, property taxes and insurance charges incurred by the landlord for the facilities which we occupy. These amounts are not Operating lease payments are included in cash outflows from operating activities on our consolidated statements of cash flows. Amortization of ROU assets is presented separately from the change in operating lease liabilities and is included in depreciation and amortization on our consolidated statements of cash flows. We have made an accounting policy election not 842 one See Note 11 Interest Rate Swap Agreement We are exposed to interest rate risk on our floating-rate debt. We have entered into an interest rate swap agreement to effectively convert our floating-rate debt to a fixed-rate basis for a portion of our floating rate debt, as discussed further in Notes 5 12. 815 Contingent Liability for Repayment of State and Local Grant Funds Received In connection with leasing a facility in Rochester, New York, which our subsidiary, Ambrell, occupied in May 2018, three March 31, 2022. 2024. may June 30, 2022, not no June 30, 2022. June 30, 2022, Stock-Based Compensation 718 13. Income Taxes not not Earnings Per Common Share The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Weighted average common shares outstanding - basic 10,653,268 10,442,916 10,635,270 10,386,183 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 161,531 322,020 193,426 259,198 Weighted average common shares and common share equivalents outstanding - diluted 10,814,799 10,764,936 10,828,696 10,645,381 Average number of potentially dilutive securities excluded from calculation 608,322 274,345 477,448 307,069 Effect of Recently Issued Amendments to Authoritative Accounting Guidance In June 2016, November 2019, December 15, 2022. first January 1, 2023.

Note 3 - Acquisitions

Note 3 - Acquisitions	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Business Combination Disclosure [Text Block]	( 3 ACQUISITIONS Z-Sciences As discussed further in Note 3 2021 10 October 6, 2021, 2004. 2022. June 30, 2022, one June 30, 2022 October 2022. June 30, 2022 2022 2026. The acquisition of Z-Sciences has been accounted for as a business combination using purchase accounting, and, accordingly, the results of Z-Sciences have been included in our consolidated results of operations from the date of acquisition. The allocation of the Z-Sciences’ purchase price was based on fair values as of October 6, 2021. 3 2021 10 Unaudited pro forma information which would give effect to the acquisition of Z-Sciences as if the acquisition occurred on January 1, 2021 not Videology As discussed further in Note 3 2021 10 October 28, 2021, The acquisition of Videology has been accounted for as a business combination using purchase accounting, and, accordingly, the results of Videology have been included in our consolidated results of operations from the date of acquisition. The allocation of the Videology purchase price was based on fair values as of October 27, 2021. 3 2021 10 The following unaudited pro forma information gives effect to the acquisition of Videology as if the acquisition occurred on January 1, 2021. not may not Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revenue $ 24,119 $ 45,974 Net earnings $ 3,229 $ 6,061 Diluted earnings per share $ 0.30 $ 0.57 The pro forma results shown above do not Acculogic As discussed further in Note 3 2021 10 December 21, 2021, may five 2022 2026. five June 30, 2022. June 30, 2022, no The acquisition of Acculogic has been accounted for as a business combination using purchase accounting, and, accordingly, the results of Acculogic have been included in our consolidated results of operations from the date of acquisition. During the quarter ended June 30, 2022, The allocation of the Acculogic purchase price which is presented below was based on estimated fair values as of December 21, 2021. March 31, 2022 The excess of the purchase price over the identifiable intangible and net tangible assets was allocated to goodwill and is not The total purchase price of $9,426, which includes $1,430 for the estimated fair value of contingent consideration, has been allocated as follows: Goodwill $ 3,363 Identifiable intangible assets 5,123 Tangible assets acquired and liabilities assumed: Cash 312 Trade accounts receivable 2,259 Inventories 1,329 Other current assets 240 Property and equipment 156 Accounts payable (406 ) Accrued expenses (2,950 ) Total purchase price $ 9,426 Further information about the intangible assets recorded as a result of the acquisition is discussed in Note 3 2021 10 The following unaudited pro forma information gives effect to the acquisition of Acculogic as if the acquisition occurred on January 1, 2021. not may not Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revenue $ 24,550 $ 46,836 Net earnings $ 2,582 $ 4,767 Diluted earnings per share $ 0.24 $ 0.45 The pro forma results shown above do not

Note 4 - Short-term Investments

Note 4 - Short-term Investments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Investment [Text Block]	( 4 SHORT-TERM INVESTMENTS Our short-term investments at June 30, 2022 April 2022 six June 30, 2022 Amortized Cost Basis Gross Unrealized Gains Fair Value As of June 30, 2022 U.S. treasury bills $ 3,485 $ - $ 3,485

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 5 FAIR VALUE MEASUREMENTS ASC Topic 820 ASC Topic 820 820 three Level 1 Level 2 not Level 3 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 interest rate swap agreement we entered into in connection with our Term Note, as discussed further in Notes 2 12 2 3 October 6, 2021 December 21, 2021. 3. June 30, 2022, 3. six June 30, 2022 The following fair value hierarchy table presents information about liabilities measured at fair value on a recurring basis: Amounts at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 As of June 30, 2022 Contingent consideration liability – Z-Sciences $ 179 $ - $ - $ 179 Contingent consideration liability – Acculogic $ 1,435 $ - $ - $ 1,435 Interest rate swap $ 388 $ - $ 388 $ - Changes in the fair value of our Level 3 six June 30, 2022 Six Months Ended June 30, 2022 Balance at beginning of period $ 1,109 Adjustment to contingent consideration liability in connection with the acquisition of Acculogic 500 Impact of foreign currency translation adjustments 5 Balance at end of period $ 1,614

Note 6 - Restructuring and Othe

Note 6 - Restructuring and Other Charges	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	( 6 RESTRUCTURING AND OTHER CHARGES During 2021, 5 2021 10 six June 30, 2022. six June 30, 2021, Accrued Restructuring The liability for accrued restructuring that remained at January 1, 2022 5 2021 10 six June 30, 2022 Balance - January 1, 2022 $ 70 Cash payments (7 ) Adjustments to accruals (63 ) Balance - June 30, 2022 $ -

Note 7 - Goodwill and Intangibl

Note 7 - Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	( 7 GOODWILL AND INTANGIBLE ASSETS We have three Goodwill six June 30, 2022 Balance - January 1, 2022 $ 21,448 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 for contingent consideration and intangible assets related to acquisition of Acculogic (see Note 3) 451 Impact of foreign currency translation adjustments (179 ) Balance - June 30, 2022 $ 21,720 Goodwill was comprised of the following at June 30, 2022 December 31, 2021: June 30, December 31, 2022 2021 Electronic Test $ 3,521 $ 3,055 Environmental Technologies 1,817 1,817 Process Technologies 16,382 16,576 Total goodwill $ 21,720 $ 21,448 Intangible Assets six June 30, 2022 Balance - January 1, 2022 $ 8,428 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) 20 Impact of foreign currency translation adjustments (41 ) Balance - June 30, 2022 $ 8,407 Changes in the amount of the carrying value of finite-lived intangible assets for the six June 30, 2022 Balance - January 1, 2022 $ 13,206 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) 29 Impact of foreign currency translation adjustments (188 ) Amortization (1,547 ) Balance - June 30, 2022 $ 11,500 Intangible assets were allocated to our reporting segments at June 30, 2022 December 31, 2021 June 30, December 31, 2022 2021 Electronic Test: $ 4,632 $ 5,074 Environmental Technologies 862 893 Process Technologies 14,413 15,667 Total intangible assets $ 19,907 $ 21,634 The following tables provide further detail about our intangible assets as of June 30, 2022 December 31, 2021: June 30, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 16,428 $ 7,093 $ 9,335 Technology 2,912 788 2,124 Patents 590 588 2 Backlog 495 456 39 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 20,835 9,335 11,500 Indefinite-lived intangible assets: Trademarks 8,407 - 8,407 Total intangible assets $ 29,242 $ 9,335 $ 19,907 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 16,544 $ 6,160 $ 10,384 Technology 2,950 569 2,381 Patents 590 585 5 Backlog 521 85 436 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 21,015 7,809 13,206 Indefinite-lived intangible assets: Trademarks 8,428 - 8,428 Total intangible assets $ 29,443 $ 7,809 $ 21,634 We generally amortize our finite-lived intangible assets over their estimated useful lives based on the pattern in which the economic benefits of the intangible assets are expected to be consumed, or on a straight-line basis, if an alternate amortization method cannot be reliably determined. Any such alternate amortization method would. None The following table sets forth the estimated annual amortization expense for each of the next five 2022 (remainder) $ 1,160 2023 $ 2,112 2024 $ 1,989 2025 $ 1,778 2026 $ 1,169

Note 8 - Revenue From Contracts

Note 8 - Revenue From Contracts With Customers	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 8 REVENUE FROM CONTRACTS WITH CUSTOMERS The following tables provide additional information about our revenue from contracts with customers, including revenue by customer and product type and revenue by market. The information about revenue by market for the three six June 30, 2021 16 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue by customer type: End user $ 23,114 $ 19,266 $ 42,693 $ 36,925 OEM/Integrator 6,457 2,554 10,959 4,451 $ 29,571 $ 21,820 $ 53,652 $ 41,376 Revenue by product type: Thermal test $ 5,951 $ 4,537 $ 11,008 $ 8,842 Thermal process 9,968 6,807 16,964 12,373 Semiconductor test 6,891 8,954 13,239 17,274 Video imaging 2,395 - 4,245 - Flying probe and in-circuit testers 2,065 - 3,754 - Service/other 2,301 1,522 4,442 2,887 $ 29,571 $ 21,820 $ 53,652 $ 41,376 Revenue by market: Semiconductor $ 16,409 $ 15,677 $ 29,799 $ 28,997 Industrial 2,930 1,524 5,729 2,951 Automotive (including Electric Vehicles) 3,594 842 6,350 2,169 Defense/aerospace 1,423 1,522 2,916 2,774 Life Sciences 1,169 586 1,868 1,229 Security 794 - 1,368 - Other 3,252 1,669 5,622 3,256 $ 29,571 $ 21,820 $ 53,652 $ 41,376 There were no significant changes in the amount of the allowance for doubtful accounts for the three six June 30, 2022.

Note 9 - Major Customers

Note 9 - Major Customers	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 9 MAJOR CUSTOMERS During the six June 30, 2022, no 10% six June 30, 2021, No 10% six June 30, 2021.

Note 10 - Inventories

Note 10 - Inventories	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 10 INVENTORIES Inventories held at June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Raw materials $ 13,687 $ 10,403 Work in process 1,728 1,250 Inventory consigned to others 50 44 Finished goods 2,054 1,166 Total inventories $ 17,519 $ 12,863 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Excess and obsolete inventory charges $ 107 $ 54 $ 230 $ 93

Note 11 - Leases

Note 11 - Leases	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	( 11 LEASES As previously discussed in Note 2, 842. 2031. three six June 30, 2022 2021, Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 317 $ 294 $ 643 $ 618 Short-term lease cost $ 14 $ 32 $ 44 $ 40 The following is additional information about our leases as of June 30, 2022: Range of remaining lease terms (in years) 0.8 to 8.8 Weighted average remaining lease term (in years) 5.3 Weighted average discount rate 4.1% Maturities of lease liabilities as of June 30, 2022 2022 (remainder) $ 816 2023 1,626 2024 1,567 2025 734 2026 467 Thereafter 1,378 Total lease payments $ 6,588 Less imputed interest (630 ) Total $ 5,958 Cash Flow Information Total amortization of ROU assets was $329 and $638 for the three six June 30, 2022, three six June 30, 2021, During the three March 31, 2022, April 1, 2022 March 31, 2024.

Note 12 - Debt

Note 12 - Debt	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	( 12 DEBT Letters of Credit 30 not one June 30, 2022 December 31, 2021 L/C Lease Letters of Credit Amount Outstanding Facility Original L/C Issue Date Expiration Date Expiration Date June 30, 2022 Dec. 31, 2021 Mt. Laurel, NJ 3/29/2010 4/30/2023 4/30/2031 $ 50 $ 50 Mansfield, MA 10/27/2010 12/31/2024 12/31/2024 50 50 $ 100 $ 100 Credit Facility On October 15, 2021 ( “October 2021 October 2021 October 2021 five October 15, 2026 ( two June 30, 2022, not three six June 30, 2022 no three six June 30, 2021. The principal balance of the revolving credit facility and the principal balance of any amount drawn under the Term Note will accrue interest based on the secured overnight financing rate for U.S. government securities (“SOFR”) or a bank-defined base rate plus an applicable margin, depending on leverage. Each draw under the Term Note will have an option for us of either (i) up to a five five seven five October 2021 The October 2021 not October 2021 October 2021 October 2021 On October 28, 2021, five On December 29, 2021, not June 30, 2022 August, 1 2022 The following table sets forth the maturities of long-term debt for each of the next five 2022 (remainder) $ 2,192 2023 4,100 2024 4,100 2025 4,100 2026 3,700 $ 18,192

Note 13 - Stock-based Compensat

Note 13 - Stock-based Compensation Plan	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	( 13 STOCK-BASED COMPENSATION PLAN As of June 30, 2022, 15 2021 10 Our unvested restricted stock awards and stock options are accounted for based on their grant date fair value. As of June 30, 2022, The following table summarizes the compensation expense we recorded during the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenues $ 15 $ 7 $ 26 $ 7 Selling expense 7 6 14 9 Engineering and product development expense 18 16 37 26 General and administrative expense 511 425 846 681 $ 551 $ 454 $ 923 $ 723 There was no compensation expense capitalized in three six June 30, 2022 2021. Stock Options No may ten four six June 30, 2022 2021 2022 2021 Risk-free interest rate 2.05 % 1.03 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .55 .50 Weighted average expected life of stock options (years) 6.25 6.25 The per share weighted average fair value of stock options issued during the six June 30, 2022 2021 The following table summarizes the activity related to stock options for the six June 30, 2022: Number of Shares Weighted Average Exercise Price Options outstanding, January 1, 2022 ( 59,195 408,869 9.07 Granted 202,540 8.45 Exercised - - Canceled - - Options outstanding, June 30, 2022 ( 174,871 611,409 8.86 Restricted Stock Awards four one March 31, June 30, September 30, December 31 Since August 2020, January 1, 2022 15 2021 10 three June 30, 2022, August 24, 2023 three June 30, 2022. no June 30, 2022. On March 9, 2022, third March 9, 2022. June 30, 2022, The following table summarizes the activity related to unvested restricted stock awards for the six June 30, 2022: Number of Shares Weighted Average Grant Date Fair Value Unvested shares outstanding, January 1, 2022 262,533 7.16 Granted 123,533 9.21 Vested (51,710 ) 8.93 Forfeited - - Unvested shares outstanding, June 30, 2022 334,356 7.65 The total fair value of the restricted stock awards that vested during the six June 30, 2022 2021

Note 14 - Employee Stock Purcha

Note 14 - Employee Stock Purchase Plan	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Employee Stock Purchase Plan [Text Block]	( 14 EMPLOYEE STOCK PURCHASE PLAN The inTEST Corporation Employee Stock Purchase Plan (the “ESPP”) was adopted by the Board in April 2021 June 23, 2021 October 1, 2021. The ESPP provides that an aggregate of up to 250,000 shares of our common stock will be available for issuance thereunder. The shares of our common stock purchasable under the ESPP will be shares of authorized but unissued or reacquired shares, including shares repurchased by us on the open market. During the six June 30, 2022, June 30, 2022,

Note 15 - Employee Benefit Plan

Note 15 - Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	( 15 EMPLOYEE BENEFIT PLANS We have defined contribution 401 18 four three six June 30, 2022 three six June 30, 2021 All permanent employees of Ambrell are immediately eligible to participate in the Ambrell Corporation Savings & Profit Sharing Plan (the "Ambrell Plan") upon employment and are eligible for employer matching contributions after completing six three six June 30, 2022 three six June 30, 2021

Note 16 - Segment Information

Note 16 - Segment Information	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 16 SEGMENT INFORMATION During the year ended December 31, 2021, 1, January 1, 2022, fourth 2021, 2022, three Our management team, including our CEO who is also our Chief Operating Decision Maker as defined under U.S. GAAP, evaluates the performance of our operating segments primarily on income from divisional operations which represents earnings before income tax expense and excludes other income (expense), corporate expenses and acquired intangible amortization. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: Electronic Test $ 9,797 $ 9,054 $ 18,575 $ 17,555 Environmental Technologies 7,507 6,647 14,500 12,845 Process Technologies 12,267 6,119 20,577 10,976 Total revenue $ 29,571 $ 21,820 $ 53,652 $ 41,376 Income from divisional operations: Electronic Test $ 2,193 $ 3,237 $ 4,080 $ 6,224 Environmental Technologies 1,070 1,113 1,872 2,036 Process Technologies 2,569 1,161 3,299 1,617 Total income from divisional operations 5,832 5,511 9,251 9,877 Corporate expenses (2,339 ) (2,171 ) (4,174 ) (3,653 ) Acquired intangible amortization (765 ) (305 ) (1,547 ) (609 ) Other income (expense) (158 ) 21 (305 ) 19 Earnings before income tax expense $ 2,570 $ 3,056 $ 3,225 $ 5,634 June 30, December 31, 2022 2021 Identifiable assets: Electronic Test $ 28,735 $ 26,251 Environmental Technologies 16,900 15,411 Process Technologies 54,300 52,120 Corporate 6,090 10,123 $ 106,025 $ 103,905 The following table provides information about our geographic areas of operation. Revenue is based on the location to which the goods are shipped. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: U.S. $ 14,068 $ 6,632 $ 23,302 $ 12,379 Foreign 15,503 15,188 30,350 28,997 $ 29,571 $ 21,820 $ 53,652 $ 41,376 June 30, December 31, 2022 2021 Property and equipment: U.S. $ 2,566 $ 2,346 Foreign 392 342 $ 2,958 $ 2,688

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis Of Presentation And Use Of Estimates [Policy Text Block]	Basis of Presentation and Use of 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 Form 10 December 31, 2021 ( “2021 10 March 23, 2022
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification
Subsequent Events, Policy [Policy Text Block]	Subsequent Events no six June 30, 2022.
Business Combinations Policy [Policy Text Block]	Business Combinations third
Investment, Policy [Policy Text Block]	Short-term Investments Our short-term investments consist of investments in U.S. treasury bills with original maturities of six 320 4
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, short-term investments, accounts receivable, accounts payable, accrued expenses, our credit facility, interest rate swaps and our liabilities for contingent consideration. Our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at cost which approximates fair value, due to the short maturities of the accounts. Our short-term investments are classified as held-to-maturity and carried at amortized cost. Our credit facility and our interest rate swap are discussed further below and in Note 12. 820 820 3 5
Goodwill Intangible And Long Lived Assets [Policy Text Block]	Goodwill, Intangible and Long-Lived Assets 1 16, December 31, 2021, January 1, 2022, 2022, We account for goodwill and intangible assets in accordance with ASC Topic 350 fourth may not not not not not The quantitative goodwill impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not Indefinite-lived intangible assets are assessed for impairment annually at the beginning of the fourth not not no Long-lived assets, which consist of finite-lived intangible assets, property and equipment and right-of-use (“ROU”) assets, are assessed for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not no
Revenue [Policy Text Block]	Revenue Recognition 606 may Revenue is recorded in an amount that reflects the consideration we expect to receive in exchange for those products or services. We do not 30 90 not Nature of Products and Services We are a global supplier of innovative test and process solutions for use in manufacturing and testing in targeted markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. We sell thermal management products including ThermoStreams, ThermoChambers, process chillers, refrigerators and freezers, which we sell under our Temptronic, Sigma, Thermonics and North Sciences (formerly Z-Sciences) product lines, and Ambrell Corporation’s (“Ambrell”) precision induction heating systems, including EKOHEAT and EASYHEAT products. As a result of the acquisition of Videology, we sell industrial-grade circuit board mounted video digital cameras and related devices, systems and software. We sell semiconductor ATE interface solutions which include manipulators, docking hardware and electrical interface products. As a result of the acquisition of Acculogic, we sell robotics-based electronic production test equipment. We provide post-warranty service and support for the equipment we sell. We sell semiconductor ATE interface solutions and certain thermal management products to the semi market. We also sell many of our products to various other markets including the automotive, defense/aerospace, industrial, life sciences and security markets. We lease certain of our equipment under short-term leasing agreements with original lease terms of six not Types of Contracts with Customers Our contracts with customers are generally structured as individual purchase orders which specify the exact products or services being sold or equipment being leased along with the selling price, service fee or monthly lease amount for each individual item on the purchase order. Payment terms and any other customer-specific acceptance criteria are also specified on the purchase order. We generally do not Contract Balances We record accounts receivable at the time of invoicing. Accounts receivable, net of the allowance for doubtful accounts, is included in current assets on our balance sheet. To the extent that we do not The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, if any, historical experience, and other currently available evidence. Costs to Obtain a Contract with a Customer The only costs we incur associated with obtaining contracts with customers are sales commissions that we pay to our internal sales personnel or third third not Product Warranties In connection with the sale of our products, we generally provide standard one two not not See Notes 8 16
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at cost on a first first not three not twenty-four
Lessee, Leases [Policy Text Block]	Leases We account for leases in accordance with ASC Topic 842 may not not 842. not ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. None may not We have lease agreements which contain both lease and non-lease components, which are generally accounted for separately. In addition to the monthly rental payments due, most of our leases for our offices and warehouse facilities include non-lease components representing our portion of the common area maintenance, property taxes and insurance charges incurred by the landlord for the facilities which we occupy. These amounts are not Operating lease payments are included in cash outflows from operating activities on our consolidated statements of cash flows. Amortization of ROU assets is presented separately from the change in operating lease liabilities and is included in depreciation and amortization on our consolidated statements of cash flows. We have made an accounting policy election not 842 one See Note 11
Derivatives, Policy [Policy Text Block]	Interest Rate Swap Agreement We are exposed to interest rate risk on our floating-rate debt. We have entered into an interest rate swap agreement to effectively convert our floating-rate debt to a fixed-rate basis for a portion of our floating rate debt, as discussed further in Notes 5 12. 815
Contingent Liability, Repayment of State and Local Grant Funds Received, Policy [Policy Text Block]	Contingent Liability for Repayment of State and Local Grant Funds Received In connection with leasing a facility in Rochester, New York, which our subsidiary, Ambrell, occupied in May 2018, three March 31, 2022. 2024. may June 30, 2022, not no June 30, 2022. June 30, 2022,
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation 718 13.
Income Tax, Policy [Policy Text Block]	Income Taxes not not
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Common Share The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Weighted average common shares outstanding - basic 10,653,268 10,442,916 10,635,270 10,386,183 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 161,531 322,020 193,426 259,198 Weighted average common shares and common share equivalents outstanding - diluted 10,814,799 10,764,936 10,828,696 10,645,381 Average number of potentially dilutive securities excluded from calculation 608,322 274,345 477,448 307,069
New Accounting Pronouncements, Policy [Policy Text Block]	Effect of Recently Issued Amendments to Authoritative Accounting Guidance In June 2016, November 2019, December 15, 2022. first January 1, 2023.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Weighted average common shares outstanding - basic 10,653,268 10,442,916 10,635,270 10,386,183 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 161,531 322,020 193,426 259,198 Weighted average common shares and common share equivalents outstanding - diluted 10,814,799 10,764,936 10,828,696 10,645,381 Average number of potentially dilutive securities excluded from calculation 608,322 274,345 477,448 307,069

Note 3 - Acquisitions (Tables)

Note 3 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revenue $ 24,119 $ 45,974 Net earnings $ 3,229 $ 6,061 Diluted earnings per share $ 0.30 $ 0.57 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revenue $ 24,550 $ 46,836 Net earnings $ 2,582 $ 4,767 Diluted earnings per share $ 0.24 $ 0.45
Acculogic [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Goodwill $ 3,363 Identifiable intangible assets 5,123 Tangible assets acquired and liabilities assumed: Cash 312 Trade accounts receivable 2,259 Inventories 1,329 Other current assets 240 Property and equipment 156 Accounts payable (406 ) Accrued expenses (2,950 ) Total purchase price $ 9,426

Note 4 - Short-term Investmen_2

Note 4 - Short-term Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Debt Securities, Held-to-Maturity [Table Text Block]	Amortized Cost Basis Gross Unrealized Gains Fair Value As of June 30, 2022 U.S. treasury bills $ 3,485 $ - $ 3,485

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 Contingent consideration liability – Z-Sciences $ 179 $ - $ - $ 179 Contingent consideration liability – Acculogic $ 1,435 $ - $ - $ 1,435 Interest rate swap $ 388 $ - $ 388 $ -
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Six Months Ended June 30, 2022 Balance at beginning of period $ 1,109 Adjustment to contingent consideration liability in connection with the acquisition of Acculogic 500 Impact of foreign currency translation adjustments 5 Balance at end of period $ 1,614

Note 6 - Restructuring and Ot_2

Note 6 - Restructuring and Other Charges (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Balance - January 1, 2022 $ 70 Cash payments (7 ) Adjustments to accruals (63 ) Balance - June 30, 2022 $ -

Note 7 - Goodwill and Intangi_2

Note 7 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Changes in Goodwill [Table Text Block]	Balance - January 1, 2022 $ 21,448 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 for contingent consideration and intangible assets related to acquisition of Acculogic (see Note 3) 451 Impact of foreign currency translation adjustments (179 ) Balance - June 30, 2022 $ 21,720
Schedule of Goodwill [Table Text Block]	June 30, December 31, 2022 2021 Electronic Test $ 3,521 $ 3,055 Environmental Technologies 1,817 1,817 Process Technologies 16,382 16,576 Total goodwill $ 21,720 $ 21,448
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	Balance - January 1, 2022 $ 8,428 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) 20 Impact of foreign currency translation adjustments (41 ) Balance - June 30, 2022 $ 8,407
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Balance - January 1, 2022 $ 13,206 Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) 29 Impact of foreign currency translation adjustments (188 ) Amortization (1,547 ) Balance - June 30, 2022 $ 11,500
Schedule Of Intangible Assets [Table Text Block]	June 30, December 31, 2022 2021 Electronic Test: $ 4,632 $ 5,074 Environmental Technologies 862 893 Process Technologies 14,413 15,667 Total intangible assets $ 19,907 $ 21,634 June 30, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 16,428 $ 7,093 $ 9,335 Technology 2,912 788 2,124 Patents 590 588 2 Backlog 495 456 39 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 20,835 9,335 11,500 Indefinite-lived intangible assets: Trademarks 8,407 - 8,407 Total intangible assets $ 29,242 $ 9,335 $ 19,907 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 16,544 $ 6,160 $ 10,384 Technology 2,950 569 2,381 Patents 590 585 5 Backlog 521 85 436 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 21,015 7,809 13,206 Indefinite-lived intangible assets: Trademarks 8,428 - 8,428 Total intangible assets $ 29,443 $ 7,809 $ 21,634
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2022 (remainder) $ 1,160 2023 $ 2,112 2024 $ 1,989 2025 $ 1,778 2026 $ 1,169

Note 8 - Revenue From Contrac_2

Note 8 - Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue by customer type: End user $ 23,114 $ 19,266 $ 42,693 $ 36,925 OEM/Integrator 6,457 2,554 10,959 4,451 $ 29,571 $ 21,820 $ 53,652 $ 41,376 Revenue by product type: Thermal test $ 5,951 $ 4,537 $ 11,008 $ 8,842 Thermal process 9,968 6,807 16,964 12,373 Semiconductor test 6,891 8,954 13,239 17,274 Video imaging 2,395 - 4,245 - Flying probe and in-circuit testers 2,065 - 3,754 - Service/other 2,301 1,522 4,442 2,887 $ 29,571 $ 21,820 $ 53,652 $ 41,376 Revenue by market: Semiconductor $ 16,409 $ 15,677 $ 29,799 $ 28,997 Industrial 2,930 1,524 5,729 2,951 Automotive (including Electric Vehicles) 3,594 842 6,350 2,169 Defense/aerospace 1,423 1,522 2,916 2,774 Life Sciences 1,169 586 1,868 1,229 Security 794 - 1,368 - Other 3,252 1,669 5,622 3,256 $ 29,571 $ 21,820 $ 53,652 $ 41,376

Note 10 - Inventories (Tables)

Note 10 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2022 December 31, 2021 Raw materials $ 13,687 $ 10,403 Work in process 1,728 1,250 Inventory consigned to others 50 44 Finished goods 2,054 1,166 Total inventories $ 17,519 $ 12,863 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Excess and obsolete inventory charges $ 107 $ 54 $ 230 $ 93

Note 11 - Leases (Tables)

Note 11 - Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 317 $ 294 $ 643 $ 618 Short-term lease cost $ 14 $ 32 $ 44 $ 40 Range of remaining lease terms (in years) 0.8 to 8.8 Weighted average remaining lease term (in years) 5.3 Weighted average discount rate 4.1%
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2022 (remainder) $ 816 2023 1,626 2024 1,567 2025 734 2026 467 Thereafter 1,378 Total lease payments $ 6,588 Less imputed interest (630 ) Total $ 5,958

Note 12 - Debt (Tables)

Note 12 - Debt (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 Dec. 31, 2021 Mt. Laurel, NJ 3/29/2010 4/30/2023 4/30/2031 $ 50 $ 50 Mansfield, MA 10/27/2010 12/31/2024 12/31/2024 50 50 $ 100 $ 100
Schedule of Maturities of Long-Term Debt [Table Text Block]	2022 (remainder) $ 2,192 2023 4,100 2024 4,100 2025 4,100 2026 3,700 $ 18,192

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation Plan (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenues $ 15 $ 7 $ 26 $ 7 Selling expense 7 6 14 9 Engineering and product development expense 18 16 37 26 General and administrative expense 511 425 846 681 $ 551 $ 454 $ 923 $ 723
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2022 2021 Risk-free interest rate 2.05 % 1.03 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .55 .50 Weighted average expected life of stock options (years) 6.25 6.25
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Options outstanding, January 1, 2022 ( 59,195 408,869 9.07 Granted 202,540 8.45 Exercised - - Canceled - - Options outstanding, June 30, 2022 ( 174,871 611,409 8.86
Nonvested Restricted Stock Shares Activity [Table Text Block]	Number of Shares Weighted Average Grant Date Fair Value Unvested shares outstanding, January 1, 2022 262,533 7.16 Granted 123,533 9.21 Vested (51,710 ) 8.93 Forfeited - - Unvested shares outstanding, June 30, 2022 334,356 7.65

Note 16 - Segment Information (

Note 16 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: Electronic Test $ 9,797 $ 9,054 $ 18,575 $ 17,555 Environmental Technologies 7,507 6,647 14,500 12,845 Process Technologies 12,267 6,119 20,577 10,976 Total revenue $ 29,571 $ 21,820 $ 53,652 $ 41,376 Income from divisional operations: Electronic Test $ 2,193 $ 3,237 $ 4,080 $ 6,224 Environmental Technologies 1,070 1,113 1,872 2,036 Process Technologies 2,569 1,161 3,299 1,617 Total income from divisional operations 5,832 5,511 9,251 9,877 Corporate expenses (2,339 ) (2,171 ) (4,174 ) (3,653 ) Acquired intangible amortization (765 ) (305 ) (1,547 ) (609 ) Other income (expense) (158 ) 21 (305 ) 19 Earnings before income tax expense $ 2,570 $ 3,056 $ 3,225 $ 5,634
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue: U.S. $ 14,068 $ 6,632 $ 23,302 $ 12,379 Foreign 15,503 15,188 30,350 28,997 $ 29,571 $ 21,820 $ 53,652 $ 41,376
Long-Lived Assets by Geographic Areas [Table Text Block]	June 30, December 31, 2022 2021 Property and equipment: U.S. $ 2,566 $ 2,346 Foreign 392 342 $ 2,958 $ 2,688
Asset [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	June 30, December 31, 2022 2021 Identifiable assets: Electronic Test $ 28,735 $ 26,251 Environmental Technologies 16,900 15,411 Process Technologies 54,300 52,120 Corporate 6,090 10,123 $ 106,025 $ 103,905

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Number of Operating Segments	3	2

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021	Mar. 31, 2022 USD ($)	May 31, 2018 USD ($)
Number of Operating Segments	3	2
Deferred Grant Proceeds	$ 226
City of Rochester and State of New York [Member]
Contingent Liability, Repayment of State and Local Grant Funds Received			$ 87	$ 550
Covenant, Future Amount Receivable	$ 285

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Weighted Average Common Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted average common shares outstanding - basic (in shares)	10,653,268	10,442,916	10,635,270	10,386,183
Unvested shares of restricted stock and employee stock options (in shares)	161,531	322,020	193,426	259,198
Weighted average common shares and common share equivalents outstanding - diluted (in shares)	10,814,799	10,764,936	10,828,696	10,645,381
Average number of potentially dilutive securities excluded from calculation (in shares)	608,322	274,345	477,448	307,069

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) $ in Millions					3 Months Ended	6 Months Ended
	Dec. 21, 2021 USD ($)	Dec. 21, 2021 CAD ($)	Oct. 28, 2021 USD ($)	Oct. 06, 2021 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 21, 2021 CAD ($)
Z-Sciences [Member]
Business Combination, Consideration Transferred, Total				$ 500,000
Payments to Acquire Businesses, Gross				300,000
Business Combination, Contingent Consideration, Liability, Total				$ 200,000	$ 179,000	$ 179,000
Z-Sciences [Member] | Restricted Stock Award [Member] | Achieving Future Performance Milestones [Member]
Business Acquisition, Equity Interest Issued or Issuable, Vesting Percentage				100%
Z-Sciences [Member] | Maximum [Member] | Restricted Stock Award [Member] | Achieving Future Performance Milestones [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable				$ 1,800,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares				200,000
Videology [Member]
Payments to Acquire Businesses, Gross			$ 12,000,000
Business Acquisition, Transaction Costs			$ 288,000
Acculogic [Member]
Business Combination, Consideration Transferred, Total	$ 9,426,000
Payments to Acquire Businesses, Gross	8,500
Business Combination, Contingent Consideration, Liability, Total	1,430,000				1,435,000	1,435,000
Business Acquisition, Transaction Costs								$ 1,297,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					$ (371,000)
Acculogic [Member] | Payments Based on Performance Metrics [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 1,430,000								$ 5
Minimum Amount Required for Invoices Received		$ 2.5
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High						$ 3,900	$ 5

Note 3 - Acquisitions - Pro For

Note 3 - Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Videology [Member]
Revenue	$ 24,119	$ 45,974
Net earnings	$ 3,229	$ 6,061
Diluted earnings per share (in dollars per share)	$ 0.30	$ 0.57
Acculogic [Member]
Revenue	$ 24,550	$ 46,836
Net earnings	$ 2,582	$ 4,767
Diluted earnings per share (in dollars per share)	$ 0.24	$ 0.45

Note 3 - Acquisitions - Total P

Note 3 - Acquisitions - Total Purchase Consideration (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Dec. 21, 2021
Goodwill	$ 21,720	$ 21,448
Acculogic [Member]
Goodwill			$ 3,363
Identifiable intangible assets			5,123
Cash			312
Trade accounts receivable			2,259
Inventories			1,329
Other current assets			240
Property and equipment			156
Accounts payable			(406)
Accrued expenses			(2,950)
Total purchase price			$ 9,426

Note 4 - Short-term Investmen_3

Note 4 - Short-term Investments - Held-to-maturity Securities (Details) - US Treasury Securities [Member] $ in Thousands	Jun. 30, 2022 USD ($)
Amortized cost basis	$ 3,485
Gross unrealized gains	0
Fair value	$ 3,485

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 0.5
Acculogic [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 0.5

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 21, 2021	Oct. 06, 2021
Interest Rate Swap [Member]
Interest rate swap	$ 388
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest rate swap	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest rate swap	388
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest rate swap	0
Z-Sciences [Member]
Contingent consideration liability	179		$ 200
Z-Sciences [Member] | Fair Value, Inputs, Level 1 [Member]
Contingent consideration liability	0
Z-Sciences [Member] | Fair Value, Inputs, Level 2 [Member]
Contingent consideration liability	0
Z-Sciences [Member] | Fair Value, Inputs, Level 3 [Member]
Contingent consideration liability	179
Acculogic [Member]
Contingent consideration liability	1,435	$ 1,430
Acculogic [Member] | Fair Value, Inputs, Level 1 [Member]
Contingent consideration liability	0
Acculogic [Member] | Fair Value, Inputs, Level 2 [Member]
Contingent consideration liability	0
Acculogic [Member] | Fair Value, Inputs, Level 3 [Member]
Contingent consideration liability	$ 1,435

Note 5 - Fair Value Measureme_5

Note 5 - Fair Value Measurements - Changes in the Fair Value of Level 3 Contingent Consideration Liabilities (Details) - Contingent Consideration Liabilities [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Balance	$ 1,109
Impact of foreign currency translation adjustments	5
Balance	1,614
Acculogic [Member]
Adjustment to contingent consideration liability in connection with the acquisition of Acculogic	$ 500

Note 6 - Restructuring and Ot_3

Note 6 - Restructuring and Other Charges (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Electronic Test [Member]
Restructuring Charges, Total	$ 0	$ 197

Note 6 - Restructuring and Ot_4

Note 6 - Restructuring and Other Charges - Changes in Accrued Restructuring (Details) - EMS Segment Restructuring and Facility Consolidation [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Beginning balance	$ 70
Cash payments	(7)
Adjustments to accruals	(63)
Balance	$ 0

Note 7 - Goodwill and Intangi_3

Note 7 - Goodwill and Intangible Assets - Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Balance	$ 21,448
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 for contingent consideration and intangible assets related to acquisition of Acculogic (see Note 3)	451
Impact of foreign currency translation adjustments	(179)
Balance	$ 21,720

Note 7 - Goodwill and Intangi_4

Note 7 - Goodwill and Intangible Assets - Component of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill	$ 21,720	$ 21,448
Electronic Test [Member]
Goodwill	3,521	3,055
Environmental Technologies [Member]
Goodwill	1,817	1,817
Process Technologies [Member]
Goodwill	$ 16,382	$ 16,576

Note 7 - Goodwill and Intangi_5

Note 7 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Indefinite-lived Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Balance	$ 8,428
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3)	20
Impact of foreign currency translation adjustments	(41)
Balance	$ 8,407

Note 7 - Goodwill and Intangi_6

Note 7 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Balance	$ 13,206
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3)	29
Impact of foreign currency translation adjustments	(188)
Amortization	(1,547)
Balance	$ 11,500

Note 7 - Goodwill and Intangi_7

Note 7 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Net Carrying Amount	$ 19,907	$ 21,634
Finite-lived, Gross Carrying Amount	20,835	21,015
Finite-lived, Accumulated Amortization	9,335	7,809
Net Carrying Amount, finite-lived	11,500	13,206
Indefinite-lived, Gross Carrying Amount	8,407	8,428
Net Carrying Amount, indefinite-lived	8,407	8,428
Intangible Assets, Gross Carrying Amount	29,242	29,443
Net Carrying Amount	19,907	21,634
Trademarks [Member]
Indefinite-lived, Gross Carrying Amount	8,407	8,428
Net Carrying Amount, indefinite-lived	8,407	8,428
Customer Relationships [Member]
Finite-lived, Gross Carrying Amount	16,428	16,544
Finite-lived, Accumulated Amortization	7,093	6,160
Net Carrying Amount, finite-lived	9,335	10,384
Patented Technology [Member]
Finite-lived, Gross Carrying Amount	2,912	2,950
Finite-lived, Accumulated Amortization	788	569
Net Carrying Amount, finite-lived	2,124	2,381
Patents [Member]
Finite-lived, Gross Carrying Amount	590	590
Finite-lived, Accumulated Amortization	588	585
Net Carrying Amount, finite-lived	2	5
Customer Backlog [Member]
Finite-lived, Gross Carrying Amount	495	521
Finite-lived, Accumulated Amortization	456	85
Net Carrying Amount, finite-lived	39	436
Computer Software, Intangible Asset [Member]
Finite-lived, Gross Carrying Amount	270	270
Finite-lived, Accumulated Amortization	270	270
Net Carrying Amount, finite-lived	0	0
Trade Names [Member]
Finite-lived, Gross Carrying Amount	140	140
Finite-lived, Accumulated Amortization	140	140
Net Carrying Amount, finite-lived	0	0
Electronic Test [Member]
Net Carrying Amount	4,632	5,074
Net Carrying Amount	4,632	5,074
Environmental Technologies [Member]
Net Carrying Amount	862	893
Net Carrying Amount	862	893
Process Technologies [Member]
Net Carrying Amount	14,413	15,667
Net Carrying Amount	$ 14,413	$ 15,667

Note 7 - Goodwill and Intangi_8

Note 7 - Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2022 USD ($)
2022 (remainder)	$ 1,160
2023	2,112
2024	1,989
2025	1,778
2026	$ 1,169

Note 8 - Revenue From Contrac_3

Note 8 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease), Total	$ 0	$ 0

Note 8 - Revenue From Contrac_4

Note 8 - Revenue From Contracts With Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 29,571	$ 21,820	$ 53,652	$ 41,376
Semiconductor Market [Member]
Revenue	16,409	15,677	29,799	28,997
Industrial Market [Member]
Revenue	2,930	1,524	5,729	2,951
Automotive [Member]
Revenue	3,594	842	6,350	2,169
Defense/ Aerospace [Member]
Revenue	1,423	1,522	2,916	2,774
Life Sciences [Member]
Revenue	1,169	586	1,868	1,229
Security [Member]
Revenue	794	0	1,368	0
Other Multi Markets [Member]
Revenue	3,252	1,669	5,622	3,256
Thermal Testing Products [Member]
Revenue	5,951	4,537	11,008	8,842
Thermal Process [Member]
Revenue	9,968	6,807	16,964	12,373
Semiconductor Production Test Products [Member]
Revenue	6,891	8,954	13,239	17,274
Video Imaging [Member]
Revenue	2,395	0	4,245	0
Flying Probe and In-circuit Testers [Member]
Revenue	2,065	0	3,754	0
Service and Other Products [Member]
Revenue	2,301	1,522	4,442	2,887
End User [Member]
Revenue	23,114	19,266	42,693	36,925
OEM and Integrators [Member]
Revenue	$ 6,457	$ 2,554	$ 10,959	$ 4,451

Note 9 - Major Customers (Detai

Note 9 - Major Customers (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Major Customers	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member]
Concentration Risk, Percentage	14%

Note 10 - Inventories - Invento

Note 10 - Inventories - Inventories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Raw materials	$ 13,687		$ 13,687		$ 10,403
Work in process	1,728		1,728		1,250
Inventory consigned to others	50		50		44
Finished goods	2,054		2,054		1,166
Total inventories	17,519		17,519		$ 12,863
Excess and obsolete inventory charges	$ 107	$ 54	$ 230	$ 93

Note 11 - Leases (Details Textu

Note 11 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 01, 2022	Dec. 31, 2021
Operating Lease, Right-of-Use Asset, Amortization Expense	$ 329	$ 249	$ 638	$ 529
Operating Lease, Right-of-Use Asset	5,320		5,320			$ 5,919
Operating Lease, Liability, Total	$ 5,958		$ 5,958
Lease Agreement, Ambrell’s Netherlands Facility [Member]
Lessee, Operating Lease, Renewal Term (Month)					24 months
Operating Lease, Right-of-Use Asset					$ 51
Operating Lease, Liability, Total					$ 51

Note 11 - Leases - Lease Costs

Note 11 - Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating lease cost	$ 317	$ 294	$ 643	$ 618
Short-term lease cost	$ 14	$ 32	$ 44	$ 40
Weighted average remaining lease term (in years) (Year)	5 years 3 months 18 days		5 years 3 months 18 days
Weighted average discount rate	4.10%		4.10%
Minimum [Member]
Range of remaining lease terms (in years) (Year)			9 months 18 days
Maximum [Member]
Range of remaining lease terms (in years) (Year)			8 years 9 months 18 days

Note 11 - Leases - Maturities o

Note 11 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
2022 (remainder)	$ 816
2023	1,626
2024	1,567
2025	734
2026	467
Thereafter	1,378
Total lease payments	6,588
Less imputed interest	(630)
Total	$ 5,958

Note 12 - Debt (Details Textual

Note 12 - Debt (Details Textual) - October 2021 Agreement [Member] - M&T Bank [Member] - USD ($) $ in Thousands				3 Months Ended		6 Months Ended
	Dec. 29, 2021	Oct. 28, 2021	Oct. 15, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Aug. 01, 2022
Debt Instrument, Term (Year)			5 years
Long-Term Line of Credit, Total				$ 0		$ 0
Debt Instrument, Remaining Borrowing Capacity				4,500		4,500
Interest Expense, Debt, Total				$ 141	$ 0	$ 278	$ 0
Debt Instrument, Interest Rate in Event of Default			2%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 10,000
Term Note [Member]
Debt Instrument, Face Amount			$ 25,000
Debt Instrument, Draw Period (Year)			2 years
Proceeds from Issuance of Long-term Debt, Total	$ 8,500	$ 12,000
Debt Instrument, Interest Rate, Effective Percentage		3.20%		2.80%		2.80%
Term Note [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage								3.60%

Note 12 - Debt - Outstanding Le

Note 12 - Debt - Outstanding Letters of Credit (Details) - Letter of Credit [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Letters of Credit Amount Outstanding	$ 100	$ 100
Mt Laurel [Member]
Line of Credit, Issue Date	Mar. 29, 2010
Line of Credit, Expiration Date	Apr. 30, 2023
Lease Expiration Date	Apr. 30, 2031
Letters of Credit Amount Outstanding	$ 50	50
Mansfield [Member]
Line of Credit, Issue Date	Oct. 27, 2010
Line of Credit, Expiration Date	Dec. 31, 2024
Lease Expiration Date	Dec. 31, 2024
Letters of Credit Amount Outstanding	$ 50	$ 50

Note 12 - Debt - Future Maturit

Note 12 - Debt - Future Maturities of Long-term Debt (Details) $ in Thousands	Jun. 30, 2022 USD ($)
2022 (remainder)	$ 2,192
2023	4,100
2024	4,100
2025	4,100
2026	3,700
Long-Term Debt, Total	$ 18,192

Note 13 - Stock-based Compens_3

Note 13 - Stock-based Compensation Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 09, 2022	Aug. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total			$ 3,970		$ 3,970
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					2 years 8 months 12 days
Share-based Payment Arrangement, Amount Capitalized			0	$ 0	$ 0	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)					$ 4.53	$ 5.70
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value					$ 436	$ 577
Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					4 years
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					123,533
Restricted Stock [Member] | Restricted Stock Vesting in Three Years [Member]
Share-Based Payment Arrangement, Accelerated Cost			$ 130
Restricted Stock [Member] | Vesting Based On Performance Metrics [Member] | Restricted Stock Vesting in Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100%	150%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Lower Range		0%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Upper Range		150%
Restricted Stock [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					4 years
Restricted Stock [Member] | Independent Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					1 year
Restricted Stock [Member] | Independent Directors [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25%
Restricted Stock [Member] | Independent Directors [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25%
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%
Restricted Stock [Member] | Independent Directors [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25%
Restricted Stock [Member] | Chief Executive Officer and Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					100%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Lower Range	0%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Upper Range	150%
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	20,493
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Value	$ 200

Note 13 - Stock-based Compens_4

Note 13 - Stock-based Compensation Plan - Allocation of Share-based Compensation Expense (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Expense	$ 551	$ 454	$ 923	$ 723
Cost of Sales [Member]
Share-Based Payment Arrangement, Expense	15	7	26	7
Selling and Marketing Expense [Member]
Share-Based Payment Arrangement, Expense	7	6	14	9
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expense	18	16	37	26
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense	$ 511	$ 425	$ 846	$ 681

Note 13 - Stock-based Compens_5

Note 13 - Stock-based Compensation Plan - Stock Options Valuation Assumptions (Details) - Share-Based Payment Arrangement, Option [Member]	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Risk-free interest rate	2.05%	1.03%
Dividend yield	0%	0%
Expected common stock market price volatility factor	55%	50%
Weighted average expected life of stock options (years) (Year)	6 years 3 months	6 years 3 months

Note 13 - Stock-based Compens_6

Note 13 - Stock-based Compensation Plan - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Options outstanding, number of shares (in shares) | shares	408,869
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 9.07
Granted, number of shares (in shares) | shares	202,540
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 8.45
Exercised, number of shares (in shares) | shares	0
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 0
Canceled, number of shares (in shares) | shares	0
Canceled, weighted average exercise price (in dollars per share) | $ / shares	$ 0
Options outstanding, number of shares (in shares) | shares	611,409
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 8.86

Note 13 - Stock-based Compens_7

Note 13 - Stock-based Compensation Plan - Stock Option Activity (Details) (Parentheticals)	Jun. 30, 2022 shares
Options exercisable (in shares)	59,195
Options exercisable (in shares)	174,871

Note 13 - Stock-based Compens_8

Note 13 - Stock-based Compensation Plan - Unvested Stock Activity (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Unvested shares outstanding (in shares) | shares	262,533
Unvested shares outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 7.16
Granted, number of shares (in shares) | shares	123,533
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 9.21
Vested, number of shares (in shares) | shares	(51,710)
Vested, weighted average exercise price (in dollars per share) | $ / shares	$ 8.93
Forfeited, number of shares (in shares) | shares	0
Forfeited, weighted average exercise price (in dollars per share) | $ / shares	$ 0
Unvested shares outstanding (in shares) | shares	334,356
Unvested shares outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 7.65

Note 14 - Employee Stock Purc_2

Note 14 - Employee Stock Purchase Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2022	Jun. 23, 2021
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 65	$ 56
Share Price (in dollars per share)	$ 6.82	$ 10.73	$ 6.82	$ 6.82
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					250,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)			14,715	18,706
Stock Issued During Period, Value, Employee Stock Purchase Plan			$ 121	$ 146
Shares Issued, Price Per Share (in dollars per share)	$ 5.80	$ 9.12	$ 5.80	$ 5.80
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date			15%
Share-based Compensation Arrangement by Share-based Payment Award, Discount Amount			$ 18
Share-Based Payment Arrangement, Expense			$ 26

Note 15 - Employee Benefit Pl_2

Note 15 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
401(k) Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			10%
Defined Contribution Plan Maximum Annual Employer Matching Contribution Per Emplyee Amount			$ 5
Defined Contribution Plan Employer Matching Contribution Vesting Period (Year)			4 years
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 134	$ 100	$ 350	$ 271
The Ambrell Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			10%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 85	$ 44	$ 186	$ 87
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent			100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			50%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount			$ 5

Note 16 - Segment Information_2

Note 16 - Segment Information (Details Textual)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Number of Reportable Segments	3	2

Note 16 - Segment Information -

Note 16 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net revenues	$ 29,571	$ 21,820	$ 53,652	$ 41,376
Earnings before income tax expense	2,570	3,056	3,225	5,634
Acquired intangible amortization	(765)	(305)	(1,547)	(609)
Other income (expense)	(158)	21	(305)	19
Operating Segments [Member]
Net revenues	29,571	21,820	53,652	41,376
Earnings before income tax expense	5,832	5,511	9,251	9,877
Operating Segments [Member] | Electronic Test [Member]
Net revenues	9,797	9,054	18,575	17,555
Earnings before income tax expense	2,193	3,237	4,080	6,224
Operating Segments [Member] | Environmental Technologies [Member]
Net revenues	7,507	6,647	14,500	12,845
Earnings before income tax expense	1,070	1,113	1,872	2,036
Operating Segments [Member] | Process Technologies [Member]
Net revenues	12,267	6,119	20,577	10,976
Earnings before income tax expense	2,569	1,161	3,299	1,617
Corporate, Non-Segment [Member]
Earnings before income tax expense	$ (2,339)	$ (2,171)	$ (4,174)	$ (3,653)

Note 16 - Segment Information_3

Note 16 - Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Identifiable Assets	$ 106,025	$ 103,905
Corporate, Non-Segment [Member]
Identifiable Assets	6,090	10,123
Electronic Test [Member]
Identifiable Assets	28,735	26,251
Environmental Technologies [Member]
Identifiable Assets	16,900	15,411
Process Technologies [Member]
Identifiable Assets	$ 54,300	$ 52,120

Note 16 - Segment Information_4

Note 16 - Segment Information - Net Revenue From Unaffiliated Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 29,571	$ 21,820	$ 53,652	$ 41,376
UNITED STATES
Revenue	14,068	6,632	23,302	12,379
Non-US [Member]
Revenue	$ 15,503	$ 15,188	$ 30,350	$ 28,997

Note 16 - Segment Information_5

Note 16 - Segment Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property and Equipment	$ 2,958	$ 2,688
UNITED STATES
Property and Equipment	2,566	2,346
Non-US [Member]
Property and Equipment	$ 392	$ 342