inTEST (INTT) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
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	Q1
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,489,642

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 27,331	$ 45,260
Trade accounts receivable, net of allowance for credit losses of $426 and $474, respectively	22,859	18,175
Inventories	31,331	20,089
Prepaid expenses and other current assets	3,868	2,254
Total current assets	85,389	85,778
Property and equipment:
Machinery and equipment	8,639	7,118
Leasehold improvements	3,932	3,601
Gross property and equipment	12,571	10,719
Less: accumulated depreciation	(7,800)	(7,529)
Net property and equipment	4,771	3,190
Right-of-use assets, net	6,270	4,987
Goodwill	33,278	21,728
Net Carrying Amount	28,819	16,596
Deferred tax assets	0	1,437
Restricted certificates of deposit	100	100
Other assets	900	1,013
Total assets	159,527	134,829
Current liabilities:
Current portion of Term Note and other long-term debt	9,629	4,100
Current portion of operating lease liabilities	2,017	1,923
Accounts payable	11,395	5,521
Accrued wages and benefits	6,482	4,156
Accrued professional fees	883	1,228
Customer deposits and deferred revenue	5,596	3,797
Accrued sales commissions	1,116	1,055
Domestic and foreign income taxes payable	509	1,038
Other current liabilities	2,026	1,481
Total current liabilities	39,653	24,299
Operating lease liabilities, net of current portion	4,644	3,499
Term Note and other long-term debt, net of current portion	10,808	7,942
Contingent consideration	822	1,093
Deferred revenue, net of current portion	1,210	1,331
Deferred tax liabilities	1,126	0
Other liabilities	1,947	384
Total liabilities	60,210	38,548
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; 12,566,024 and 12,241,925 shares issued, respectively	125	122
Additional paid-in capital	56,954	54,450
Retained earnings	42,858	42,196
Accumulated other comprehensive earnings	311	414
Treasury stock, at cost; 78,515 and 75,758 shares, respectively	(931)	(901)
Total stockholders' equity	99,317	96,281
Total liabilities and stockholders' equity	$ 159,527	$ 134,829

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 426	$ 474
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)	12,566,024	12,241,925
Treasury stock, shares (in shares)	78,515	75,758

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 29,824	$ 31,919
Cost of revenue	16,748	16,867
Gross profit	13,076	15,052
Operating expenses:
Selling expense	4,590	4,455
Engineering and product development expense	1,982	1,904
General and administrative expense	6,012	5,175
Total operating expenses	12,584	11,534
Operating income	492	3,518
Interest expense	(140)	(182)
Other income	435	58
Earnings before income tax expense	787	3,394
Income tax expense	125	577
Net earnings	$ 662	$ 2,817
Earnings per common share – basic (in dollars per share)	$ 0.06	$ 0.26
Weighted average common shares outstanding – basic (in shares)	12,026,361	10,755,729
Earnings per common share – diluted (in dollars per share)	$ 0.05	$ 0.25
Weighted average common shares and common share equivalents outstanding – diluted (in shares)	12,158,297	11,088,664

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net earnings	$ 662	$ 2,817
Unrealized loss on interest rate swap agreement	(14)	(99)
Foreign currency translation adjustments	(89)	170
Comprehensive earnings	$ 559	$ 2,888

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, Common [Member]	Total
Balance (in shares) at Dec. 31, 2022	11,063,271
Balance at Dec. 31, 2022	$ 111	$ 31,987	$ 32,854	$ 218	$ (214)	$ 64,956
Net earnings	0	0	2,817	0	0	2,817
Other comprehensive loss	0	0	0	71	0	71
Amortization of deferred compensation related to stock-based awards	$ 0	474	0	0	0	474
Issuance of unvested shares of restricted stock (in shares)	90,588
Issuance of unvested shares of restricted stock	$ 1	(1)	0	0	0	0
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited (in shares)	(13,271)
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	$ 0	0	0	0	0	0
Stock options exercised (in shares)	25,200
Stock options exercised	$ 0	165	0	0	0	165
Shares issued under Employee Stock Purchase Plan (in shares)	2,292
Shares issued under Employee Stock Purchase Plan	$ 0	48	0	0	0	48
Shares surrendered to satisfy tax liability at vesting of stock-based awards	$ 0	0	0	0	(33)	(33)
Balance (in shares) at Mar. 31, 2023	11,168,080
Balance at Mar. 31, 2023	$ 112	32,673	35,671	289	(247)	68,498
Balance (in shares) at Dec. 31, 2023	12,241,925
Balance at Dec. 31, 2023	$ 122	54,450	42,196	414	(901)	96,281
Net earnings	0	0	662	0	0	662
Other comprehensive loss	0	0	0	(103)	0	(103)
Amortization of deferred compensation related to stock-based awards	$ 0	349	0	0	0	349
Issuance of shares in connection with acquisition of Alfamation (in shares)	187,432
Issuance of shares in connection with acquisition of Alfamation	$ 2	2,084	0	0	0	2,086
Issuance of unvested shares of restricted stock (in shares)	138,838
Issuance of unvested shares of restricted stock	$ 1	(1)	0	0	0	0
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited (in shares)	(11,200)
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	$ 0	0	0	0	0	$ 0
Stock options exercised (in shares)	4,925					4,925
Stock options exercised	$ 0	18	0	0	0	$ 18
Shares issued under Employee Stock Purchase Plan (in shares)	4,104
Shares issued under Employee Stock Purchase Plan	$ 0	54	0	0	0	54
Shares surrendered to satisfy tax liability at vesting of stock-based awards	$ 0	0	0	0	(30)	(30)
Balance (in shares) at Mar. 31, 2024	12,566,024
Balance at Mar. 31, 2024	$ 125	$ 56,954	$ 42,858	$ 311	$ (931)	$ 99,317

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	$ 662	$ 2,817
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	1,282	1,176
Provision for excess and obsolete inventory	176	135
Foreign exchange gain	(28)	(18)
Amortization of deferred compensation related to stock-based awards	349	474
Discount on shares sold under Employee Stock Purchase Plan	(8)	(8)
Proceeds from sale of demonstration equipment, net of gain	19	6
Deferred income tax expense (benefit)	226	(404)
Changes in assets and liabilities:
Trade accounts receivable	(982)	291
Inventories	(396)	(2,038)
Prepaid expenses and other current assets	508	(740)
Other assets	(22)	2
Operating lease liabilities	(447)	(423)
Accounts payable	1,311	403
Accrued wages and benefits	939	(654)
Accrued professional fees	(342)	(142)
Customer deposits and deferred revenue	(782)	921
Accrued sales commissions	66	(221)
Domestic and foreign income taxes payable	(406)	864
Other current liabilities	70	43
Deferred revenue, net of current portion	(121)	0
Other liabilities	(15)	(16)
Net cash provided by operating activities	2,075	2,484
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of business, net of cash acquired	(18,904)	0
Purchase of property and equipment	(340)	(334)
Net cash used in investing activities	(19,244)	(334)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings	273	0
Repayments of long-term borrowings	(1,181)	(1,025)
Proceeds from shares sold under Employee Stock Purchase Plan	46	40
Proceeds from stock options exercised	18	165
Settlement of employee tax liabilities in connection with treasury stock transaction	(30)	(33)
Net cash used in financing activities	(874)	(853)
Effects of exchange rates on cash	114	71
Net cash provided by (used in) all activities	(17,929)	1,368
Cash, cash equivalents and restricted cash at beginning of period	45,260	14,576
Cash, cash equivalents and restricted cash at end of period	27,331	15,944
Cash payments for:
Domestic and foreign income taxes	101	118
Details of acquisition:
Fair value of assets acquired, net of cash	33,750
Liabilities assumed	(24,004)
Stock issued	(2,086)
Cash holdback pending final working capital adjustment	(552)
Goodwill resulting from acquisition	11,796
Net cash paid for acquisition	$ 18,904	$ 0

Note 1 - Nature of Operations

Note 1 - Nature of Operations	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Nature of Operations [Text Block]	( 1 NATURE OF OPERATIONS We are a global supplier of innovative test and process technology solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. We have three operating segments which are also our reportable segments and reporting units: Electronic Test, Environmental Technologies and Process Technologies. March 12, 2024 3. 10. The consolidated entity is comprised of inTEST Corporation and our wholly-owned subsidiaries. We manufacture our products in the U.S., Italy, Canada and the Netherlands. Marketing and support activities are conducted worldwide from our facilities in the U.S., Italy, Canada, Germany, Singapore, the Netherlands, China 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 production 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 many of its products to semiconductor manufacturers and third third December 2021, March 2024, Our financial results are affected by a wide variety of factors, including, but not may may may not may not may not may On May 11, 2023, May 11, 2023 May 31, 2023.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain of our accounts, including contingent consideration, inventories, long-lived assets, goodwill, identifiable intangibles 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 Annual Report on Form 10 December 31, 2023 ( “2023 10 March 27, 2024 Reclassification Subsequent Events no three March 31, 2024 15. Business Combinations third Cash, Cash Equivalents and Restricted Cash Short-term investments that have maturities of three may not Periodically we have restricted cash which represents amounts deposited at our banks to support bank guarantees which certain of our customers require as a condition of paying large deposits on orders they place with us. Typically, the amount of the deposit and related guarantee declines as shipments are made against the order. At March 31, 2024 December 31, 2023, no Trade Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at the invoiced amount and do not no January 1, 2023, 326 may Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. We do not For the three March 31, 2024, no no three March 31, 2024 2023. Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, restricted cash, 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 10. 820 820 3 4 Goodwill, Intangible and Long-Lived Assets We have three 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 technology solutions for use in manufacturing and testing in targeted markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. Our Environmental Technologies segment sells thermal management products including ThermoStreams, ThermoChambers, process chillers, refrigerators and freezers, which we sell under our Temptronic, Sigma, Thermonics and North Sciences product lines. Our Process Technologies segment sells precision induction heating systems through our subsidiary, Ambrell Corporation (“Ambrell”), including EKOHEAT® and EASYHEAT™ products. This segment also sells industrial-grade circuit board mounted video digital cameras and related devices, systems and software through our Videology Imaging Corporation (“Videology”), subsidiary. Our Electronic Test segment sells semiconductor ATE interface solutions through our inTEST EMS (“EMS”) subsidiary, including manipulators, docking hardware and electrical interface products. This segment also sells robotics-based electronic production test equipment under the Acculogic tradename and, as a result of the acquisition of Alfamation on March 12, 2024, 3, We lease certain of our equipment under short-term leasing agreements with original lease terms of six not Occasionally we procure and sell materials/components on behalf of and to our customers. 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 credit losses, is included in current assets on our consolidated balance sheets. In certain instances, we also receive customer deposits in advance of invoicing and recording of accounts receivable. Customer deposits are included in current liabilities on our consolidated balance sheets. To the extent that we do not twelve twelve As discussed above, we follow the guidance in ASC Topic 326 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 6 14 Inventories Inventories are valued at cost on a first first not three not twenty-four three March 31, 2024 2023, 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 9 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 4 10. 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 March 31, 2024, not no March 31, 2024. March 31, 2024, Stock-Based Compensation 718 11. Income Taxes not not Earnings (Loss) 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 (loss) per share because their effect was anti-dilutive: Three Months Ended March 31, 2024 2023 Weighted average common shares outstanding–basic 12,026,361 10,755,729 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 131,936 332,935 Weighted average common shares and common share equivalents outstanding–diluted 12,158,297 11,088,664 Average number of potentially dilutive securities excluded from calculation because their effect was anti-dilutive during the period 434,584 154,429 Effect of Recently Issued Amendments to Authoritative Accounting Guidance In November 2023, December 15, 2023 December 15, 2024. In December 2023, five may December 15, 2024

Note 3 - Acquisition

Note 3 - Acquisition	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	( 3 ACQUISITION On March 12, 2024 8,616, $9,418. 10. In connection with the acquisition, we have entered into a lease agreement (the “Lease Agreement”) with the former owner of Alfamation who will continue to serve as the managing director of Alfamation under our ownership. The Lease Agreement commenced on March 12, 2024 six two not March 12, 2024. third not may may not second third 2024. 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 $22,353 has been allocated as follows: Goodwill $ 11,796 Identifiable intangible assets 13,087 Tangible assets acquired and liabilities assumed: Cash 811 Trade accounts receivable 4,004 Inventories 11,243 Other current assets 2,169 Property and equipment 1,597 Other assets 1,650 Accounts payable (4,644 ) Accrued expenses (4,311 ) Other current liabilities (278 ) Deferred tax liability (2,391 ) Debt (current and long-term) (9,418 ) Other non-current liabilities (2,962 ) Total purchase price $ 22,353 We estimated the fair value of identifiable intangible assets acquired using the income approach. Identifiable intangible assets acquired include customer relationships, customer backlog, technology and a tradename. We are amortizing the finite-lived intangible assets acquired over their estimated useful lives 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 Alfamation’s identifiable intangible assets and their estimated useful lives as of the acquisition date: Fair Value Weighted Average Estimated Useful Life (in years) Finite-lived intangible assets: Customer relationships $ 5,949 15.0 Technology 340 10.0 Customer backlog 3,399 1.0 Total finite-lived intangible assets 9,688 9.9 Indefinite-lived intangible assets: Trade name 3,399 Total intangible assets $ 13,087 For the period from March 13, 2024 March 31, 2024, The following unaudited pro forma information gives effect to the acquisition of Alfamation as if the acquisition occurred on January 1, 2023. not may not Three Months Ended March 31, 2024 2023 Revenue $ 34,752 $ 38,473 Net earnings $ 480 $ 3,227 Diluted earnings per share $ 0.04 $ 0.29 The pro forma results shown above do not

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 4 FAIR VALUE MEASUREMENTS ASC Topic 820 ASC 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 10, 2 3 December 21, 2021, 3 2022 10 March 31, 2024 December 31, 2023, The following fair value hierarchy table presents information about assets and (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 March 31, 2024 Contingent consideration liability – Acculogic $ (1,069 ) $ - $ - $ (1,069 ) Interest rate swap $ 271 $ - $ 271 $ - Amounts at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 As of December 31, 2023 Contingent consideration liability – Acculogic $ (1,093 ) $ - $ - $ (1,093 ) Interest rate swap $ 285 $ - $ 285 $ - Changes in the fair value of our Level 3 three March 31, 2024 Three Months Ended March 31, 2024 Balance at beginning of period $ 1,093 Impact of foreign currency translation adjustments (24 ) Balance at end of period $ 1,069

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	( 5 GOODWILL AND INTANGIBLE ASSETS We have three Goodwill three March 31, 2024 Balance - January 1, 2024 $ 21,728 Acquisition of Alfamation 11,796 Impact of foreign currency translation adjustments (246 ) Balance - March 31, 2024 $ 33,278 Goodwill was comprised of the following at March 31, 2024 December 31, 2023: March 31, December 31, 2024 2023 Electronic Test $ 15,026 $ 3,436 Environmental Technologies 1,817 1,817 Process Technologies 16,435 16,475 Total goodwill $ 33,278 $ 21,728 Intangible Assets three March 31, 2024 Balance - January 1, 2024 $ 8,398 Acquisition of Alfamation 3,399 Impact of foreign currency translation adjustments (66 ) Balance - March 31, 2024 $ 11,731 Changes in the amount of the carrying value of finite-lived intangible assets for the three March 31, 2024 Balance - January 1, 2024 $ 8,198 Acquisition of Alfamation 9,688 Impact of foreign currency translation adjustments (203 ) Amortization (595 ) Balance - March 31, 2024 $ 17,088 Intangible assets were allocated to our reporting segments at March 31, 2024 December 31, 2023 March 31, December 31, 2024 2023 Electronic Test 16,357 3,728 Environmental Technologies 796 794 Process Technologies 11,666 12,074 Total intangible assets $ 28,819 $ 16,596 The following tables provide further detail about our intangible assets as of March 31, 2024 December 31, 2023: March 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 22,202 $ 10,082 $ 12,120 Technology 3,195 1,504 1,691 Patents 590 590 - Backlog 3,851 574 3,277 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 30,248 13,160 17,088 Indefinite-lived intangible assets: Trademarks 11,731 - 11,731 Total intangible assets $ 41,979 $ 13,160 $ 28,819 December 31, 2023 Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships $ 16,407 $ 9,687 $ 6,720 Technology 2,895 1,417 1,478 Patents 590 590 - Backlog 499 499 - Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 20,801 12,603 8,198 Indefinite-lived intangible assets: Trademarks 8,398 - 8,398 Total intangible assets $ 29,199 $ 12,603 $ 16,596 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 be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None The following table sets forth the estimated annual amortization expense for each of the next five 2024 (remainder) $ 4,384 2025 $ 2,863 2026 $ 1,577 2027 $ 1,083 2028 $ 952

Note 6 - Revenue From Contracts

Note 6 - Revenue From Contracts With Customers	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 6 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. See also Note 14 Three Months Ended 2024 2023 Revenue by customer type: End user $ 21,430 $ 21,704 OEM/Integrator 8,394 10,215 $ 29,824 $ 31,919 Revenue by product type: Thermal test $ 3,699 $ 5,820 Thermal process 10,955 9,822 Semiconductor test 6,282 8,105 Video imaging 2,119 2,648 Flying probe and in-circuit testers 2,744 1,160 Alfamation products 1,379 - Service/other 2,646 4,364 $ 29,824 $ 31,919 Revenue by market: Semiconductor $ 14,967 $ 17,683 Industrial 4,187 3,137 Automotive (including Electric Vehicles) 3,958 2,597 Life Sciences 653 1,513 Defense/aerospace 3,239 2,839 Security 541 966 Other 2,279 3,184 $ 29,824 $ 31,919

Note 7 - Major Customers

Note 7 - Major Customers	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 7 MAJOR CUSTOMERS During the three March 31, 2024, one No 10% three March 31, 2024. three March 31, 2023, one No 10% three March 31, 2023.

Note 8 - Inventories

Note 8 - Inventories	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 8 INVENTORIES Inventories held at March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Raw materials $ 17,104 $ 15,948 Work in process 9,419 1,563 Inventory consigned to others 114 98 Finished goods 4,694 2,480 Total inventories $ 31,331 $ 20,089

Note 9 - Leases

Note 9 - Leases	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	( 9 LEASES As previously discussed in Note 2, 842. 2031. three March 31, 2024 2023, Three Months Ended March 31, 2024 2023 Operating lease cost $ 451 $ 400 Short-term lease cost $ 3 $ 3 The following is additional information about our leases as of March 31, 2024: Range of remaining lease terms (in years) .5 to 7.1 Weighted average remaining lease term (in years) 4.5 Weighted average discount rate 5.3% Maturities of lease liabilities as of March 31, 2024 2024 $ 1,896 2025 1,644 2026 1,313 2027 1,093 2028 675 Thereafter 869 Total lease payments $ 7,490 Less imputed interest (829 ) Total $ 6,661 Cash Flow Information Total amortization of ROU assets for the three March 31, 2024 2023 During the three March 31, 2024 3. 3, During the three March 31, 2024 three March 31, 2023, one

Note 10 - Debt

Note 10 - Debt	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 DEBT Letters of Credit 30 not one March 31, 2024 December 31, 2023 L/C Lease Letters of Credit Amount Outstanding Facility Original L/C Issue Date Expiration Date Expiration Date Mar. 31, 2024 Dec. 31, 2023 Mt. Laurel, NJ 3/29/2010 4/30/2025 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 28, 2021, December 30, 2021, The Loan Agreement included a $25,000 non-revolving delayed draw term note (the “Term Note”) and a $10,000 revolving credit facility (the “Revolving Facility” and together with the Term Note, the “Credit Facility”). The Credit Facility had a five October 15, 2026, two On September 20, 2022, may March 31, 2024 May 2, 2024 may May 2, 2026, September 19, 2027 May 2, 2031 ( March 31, 2024, not The principal balance of the Revolving Facility and the principal balance of any amount drawn under the Term Note accrues 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 three March 31, 2024 2023 not not 1.0 not 1.0. March 31, 2024, On October 28, 2021, five On December 29, 2021, not March 31, 2024, May 1, 2024, not The following table sets forth the maturities of the Term Note for each of the next five 2024 (remainder) $ 3,075 2025 4,100 2026 3,842 $ 11,017 Alfamation Debt At March 31, 2024, 3. March 31, 2024 March 31, 2024 The following table sets forth the maturities of this debt for each of the next five 2024 (remainder) $ 4,987 2025 2,085 2026 1,293 2027 807 2028 248 $ 9,420

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation Plan	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	( 11 STOCK-BASED COMPENSATION PLAN As of March 31, 2024, 13 2023 10 Our unvested restricted stock awards and stock options are accounted for based on their grant date fair value. As of March 31, 2024, The following table summarizes the compensation expense we recorded during the three March 31, 2024 2023 Three Months Ended March 31, 2024 2023 Cost of revenue $ 31 $ 19 Selling expense 11 10 Engineering and product development expense 4 10 General and administrative expense 303 435 $ 349 $ 474 There was no compensation expense capitalized in three March 31, 2024 2023. Stock Options No may ten four three March 31, 2024 2023 2024 2023 Risk-free interest rate 3.98 % 3.94 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .57 .57 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 three March 31, 2024 2023 The following table summarizes the activity related to stock options for the three March 31, 2024: Number of Shares Weighted Average Exercise Price Options outstanding, January 1, 2024 ( 171,735 505,006 $ 10.46 Granted 165,364 11.33 Exercised (4,925 ) 3.69 Canceled (23,401 ) 10.27 Options outstanding, March 31, 2024 ( 228,364 642,044 10.74 Restricted Stock Awards four one March 31, June 30, September 30, December 31 Since August 2020, On March 10, 2021, first 2023, third On October 1, 2021, January 1, 2025 October 1, 2021. December 31, 2023, March 31, 2024, On March 9, 2022, third March 9, 2022. December 31, 2023, March 31, 2024, On March 8, 2023, two third March 8, 2023. December 31, 2025 March 31, 2024, May 8, 2023 third May 8, 2023. March 31, 2024, January 16, 2024 third January 16, 2024. March 31, 2024, March 6, 2024, three third March 6, 2024. December 31, 2026 March 31, 2024, The following table summarizes the activity related to unvested restricted stock awards for the three March 31, 2024: Number of Shares Weighted Average Grant Date Fair Value Unvested shares outstanding, January 1, 2024 189,784 $ 11.51 Granted 138,838 11.38 Vested (39,790 ) 11.52 Forfeited (11,200 ) 12.29 Unvested shares outstanding, March 31, 2024 277,632 11.41 The total fair value of the restricted stock awards that vested during the three March 31, 2024 2023

Note 12 - Employee Stock Purcha

Note 12 - Employee Stock Purchase Plan	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Employee Stock Purchase Plan [Text Block]	( 12 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 under the ESPP. 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. On March 31, 2024, March 31, 2024,

Note 13 - Employee Benefit Plan

Note 13 - Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	( 13 EMPLOYEE BENEFIT PLANS We have defined contribution 401 September 30, 2023, March 31, 2024, 18 four six For the three March 31, 2024 2023, March 31, 2024,

Note 14 - Segment Information

Note 14 - Segment Information	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 14 SEGMENT INFORMATION We have three March 12, 2024 3 third 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 interest expense, other income (expense), corporate expenses and acquired intangible amortization. Three Months Ended March 31, 2024 2023 Revenue: Electronic Test $ 11,116 $ 10,371 Environmental Technologies 6,828 8,042 Process Technologies 11,880 13,506 Total revenue $ 29,824 $ 31,919 Income from divisional operations: Electronic Test $ 1,813 $ 2,578 Environmental Technologies 15 1,013 Process Technologies 1,961 2,676 Total income from divisional operations 3,789 6,267 Corporate expenses (2,702 ) (2,205 ) Acquired intangible amortization (595 ) (544 ) Interest expense (140 ) (182 ) Other income (expense) 435 58 Earnings before income tax expense $ 787 $ 3,394 March 31, December 31, 2024 2023 Identifiable assets: Electronic Test $ 75,508 $ 32,505 Environmental Technologies 16,624 16,772 Process Technologies 57,815 56,842 Corporate 9,580 28,710 $ 159,527 $ 134,829 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 2024 2023 Revenue: U.S. $ 10,477 $ 11,090 Foreign 19,347 20,829 $ 29,824 $ 31,919 March 31, December 31, 2024 2023 Property and equipment: U.S. $ 2,502 $ 2,502 Foreign 2,269 688 $ 4,771 $ 3,190

Note 15 - Subsequent Event

Note 15 - Subsequent Event	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	( 15 SUBSEQUENT EVENT On May 2, 2024 10, may May 2, 2026, September 19, 2027 May 2, 2031.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information During the first March 31, 2024, none 16 1934 10b5 1 10b5 1 408 1934.
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain of our accounts, including contingent consideration, inventories, long-lived assets, goodwill, identifiable intangibles 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 Annual Report on Form 10 December 31, 2023 ( “2023 10 March 27, 2024
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification
Subsequent Events, Policy [Policy Text Block]	Subsequent Events no three March 31, 2024 15.
Business Combinations Policy [Policy Text Block]	Business Combinations third
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash Short-term investments that have maturities of three may not Periodically we have restricted cash which represents amounts deposited at our banks to support bank guarantees which certain of our customers require as a condition of paying large deposits on orders they place with us. Typically, the amount of the deposit and related guarantee declines as shipments are made against the order. At March 31, 2024 December 31, 2023, no
Receivable [Policy Text Block]	Trade Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at the invoiced amount and do not no January 1, 2023, 326 may Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. We do not For the three March 31, 2024, no no three March 31, 2024 2023.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, restricted cash, 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 10. 820 820 3 4
Goodwill Intangible And Long Lived Assets [Policy Text Block]	Goodwill, Intangible and Long-Lived Assets We have three 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 technology solutions for use in manufacturing and testing in targeted markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor. Our Environmental Technologies segment sells thermal management products including ThermoStreams, ThermoChambers, process chillers, refrigerators and freezers, which we sell under our Temptronic, Sigma, Thermonics and North Sciences product lines. Our Process Technologies segment sells precision induction heating systems through our subsidiary, Ambrell Corporation (“Ambrell”), including EKOHEAT® and EASYHEAT™ products. This segment also sells industrial-grade circuit board mounted video digital cameras and related devices, systems and software through our Videology Imaging Corporation (“Videology”), subsidiary. Our Electronic Test segment sells semiconductor ATE interface solutions through our inTEST EMS (“EMS”) subsidiary, including manipulators, docking hardware and electrical interface products. This segment also sells robotics-based electronic production test equipment under the Acculogic tradename and, as a result of the acquisition of Alfamation on March 12, 2024, 3, We lease certain of our equipment under short-term leasing agreements with original lease terms of six not Occasionally we procure and sell materials/components on behalf of and to our customers. 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 credit losses, is included in current assets on our consolidated balance sheets. In certain instances, we also receive customer deposits in advance of invoicing and recording of accounts receivable. Customer deposits are included in current liabilities on our consolidated balance sheets. To the extent that we do not twelve twelve As discussed above, we follow the guidance in ASC Topic 326 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 6 14
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at cost on a first first not three not twenty-four three March 31, 2024 2023,
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 9
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 4 10. 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 March 31, 2024, not no March 31, 2024. March 31, 2024,
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation 718 11.
Income Tax, Policy [Policy Text Block]	Income Taxes not not
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) 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 (loss) per share because their effect was anti-dilutive: Three Months Ended March 31, 2024 2023 Weighted average common shares outstanding–basic 12,026,361 10,755,729 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 131,936 332,935 Weighted average common shares and common share equivalents outstanding–diluted 12,158,297 11,088,664 Average number of potentially dilutive securities excluded from calculation because their effect was anti-dilutive during the period 434,584 154,429
New Accounting Pronouncements, Policy [Policy Text Block]	Effect of Recently Issued Amendments to Authoritative Accounting Guidance In November 2023, December 15, 2023 December 15, 2024. In December 2023, five may December 15, 2024

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, 2024 2023 Weighted average common shares outstanding–basic 12,026,361 10,755,729 Potentially dilutive securities: Unvested shares of restricted stock and employee stock options 131,936 332,935 Weighted average common shares and common share equivalents outstanding–diluted 12,158,297 11,088,664 Average number of potentially dilutive securities excluded from calculation because their effect was anti-dilutive during the period 434,584 154,429

Note 3 - Acquisition (Tables)

Note 3 - Acquisition (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Goodwill $ 11,796 Identifiable intangible assets 13,087 Tangible assets acquired and liabilities assumed: Cash 811 Trade accounts receivable 4,004 Inventories 11,243 Other current assets 2,169 Property and equipment 1,597 Other assets 1,650 Accounts payable (4,644 ) Accrued expenses (4,311 ) Other current liabilities (278 ) Deferred tax liability (2,391 ) Debt (current and long-term) (9,418 ) Other non-current liabilities (2,962 ) Total purchase price $ 22,353
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Fair Value Weighted Average Estimated Useful Life (in years) Finite-lived intangible assets: Customer relationships $ 5,949 15.0 Technology 340 10.0 Customer backlog 3,399 1.0 Total finite-lived intangible assets 9,688 9.9 Indefinite-lived intangible assets: Trade name 3,399 Total intangible assets $ 13,087
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended March 31, 2024 2023 Revenue $ 34,752 $ 38,473 Net earnings $ 480 $ 3,227 Diluted earnings per share $ 0.04 $ 0.29

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 Contingent consideration liability – Acculogic $ (1,069 ) $ - $ - $ (1,069 ) Interest rate swap $ 271 $ - $ 271 $ - Amounts at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 As of December 31, 2023 Contingent consideration liability – Acculogic $ (1,093 ) $ - $ - $ (1,093 ) Interest rate swap $ 285 $ - $ 285 $ -
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended March 31, 2024 Balance at beginning of period $ 1,093 Impact of foreign currency translation adjustments (24 ) Balance at end of period $ 1,069

Note 5 - Goodwill and Intangi_2

Note 5 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Changes in Goodwill [Table Text Block]	Balance - January 1, 2024 $ 21,728 Acquisition of Alfamation 11,796 Impact of foreign currency translation adjustments (246 ) Balance - March 31, 2024 $ 33,278
Schedule Of Intangible Assets [Table Text Block]	March 31, December 31, 2024 2023 Electronic Test $ 15,026 $ 3,436 Environmental Technologies 1,817 1,817 Process Technologies 16,435 16,475 Total goodwill $ 33,278 $ 21,728 March 31, December 31, 2024 2023 Electronic Test 16,357 3,728 Environmental Technologies 796 794 Process Technologies 11,666 12,074 Total intangible assets $ 28,819 $ 16,596 March 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets: Customer relationships $ 22,202 $ 10,082 $ 12,120 Technology 3,195 1,504 1,691 Patents 590 590 - Backlog 3,851 574 3,277 Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 30,248 13,160 17,088 Indefinite-lived intangible assets: Trademarks 11,731 - 11,731 Total intangible assets $ 41,979 $ 13,160 $ 28,819 December 31, 2023 Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships $ 16,407 $ 9,687 $ 6,720 Technology 2,895 1,417 1,478 Patents 590 590 - Backlog 499 499 - Software 270 270 - Trade name 140 140 - Total finite-lived intangible assets 20,801 12,603 8,198 Indefinite-lived intangible assets: Trademarks 8,398 - 8,398 Total intangible assets $ 29,199 $ 12,603 $ 16,596
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	Balance - January 1, 2024 $ 8,398 Acquisition of Alfamation 3,399 Impact of foreign currency translation adjustments (66 ) Balance - March 31, 2024 $ 11,731
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Balance - January 1, 2024 $ 8,198 Acquisition of Alfamation 9,688 Impact of foreign currency translation adjustments (203 ) Amortization (595 ) Balance - March 31, 2024 $ 17,088
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2024 (remainder) $ 4,384 2025 $ 2,863 2026 $ 1,577 2027 $ 1,083 2028 $ 952

Note 6 - Revenue From Contrac_2

Note 6 - Revenue From Contracts With Customers (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended 2024 2023 Revenue by customer type: End user $ 21,430 $ 21,704 OEM/Integrator 8,394 10,215 $ 29,824 $ 31,919 Revenue by product type: Thermal test $ 3,699 $ 5,820 Thermal process 10,955 9,822 Semiconductor test 6,282 8,105 Video imaging 2,119 2,648 Flying probe and in-circuit testers 2,744 1,160 Alfamation products 1,379 - Service/other 2,646 4,364 $ 29,824 $ 31,919 Revenue by market: Semiconductor $ 14,967 $ 17,683 Industrial 4,187 3,137 Automotive (including Electric Vehicles) 3,958 2,597 Life Sciences 653 1,513 Defense/aerospace 3,239 2,839 Security 541 966 Other 2,279 3,184 $ 29,824 $ 31,919

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2024 December 31, 2023 Raw materials $ 17,104 $ 15,948 Work in process 9,419 1,563 Inventory consigned to others 114 98 Finished goods 4,694 2,480 Total inventories $ 31,331 $ 20,089

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2024 2023 Operating lease cost $ 451 $ 400 Short-term lease cost $ 3 $ 3 Range of remaining lease terms (in years) .5 to 7.1 Weighted average remaining lease term (in years) 4.5 Weighted average discount rate 5.3%
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	2024 $ 1,896 2025 1,644 2026 1,313 2027 1,093 2028 675 Thereafter 869 Total lease payments $ 7,490 Less imputed interest (829 ) Total $ 6,661

Note 10 - Debt (Tables)

Note 10 - Debt (Tables)	3 Months Ended
	Mar. 31, 2024
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 Mar. 31, 2024 Dec. 31, 2023 Mt. Laurel, NJ 3/29/2010 4/30/2025 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]	2024 (remainder) $ 3,075 2025 4,100 2026 3,842 $ 11,017 2024 (remainder) $ 4,987 2025 2,085 2026 1,293 2027 807 2028 248 $ 9,420

Note 11 - Stock-based Compens_2

Note 11 - Stock-based Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2024 2023 Cost of revenue $ 31 $ 19 Selling expense 11 10 Engineering and product development expense 4 10 General and administrative expense 303 435 $ 349 $ 474
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2024 2023 Risk-free interest rate 3.98 % 3.94 % Dividend yield 0.00 % 0.00 % Expected common stock market price volatility factor .57 .57 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, 2024 ( 171,735 505,006 $ 10.46 Granted 165,364 11.33 Exercised (4,925 ) 3.69 Canceled (23,401 ) 10.27 Options outstanding, March 31, 2024 ( 228,364 642,044 10.74
Nonvested Restricted Stock Shares Activity [Table Text Block]	Number of Shares Weighted Average Grant Date Fair Value Unvested shares outstanding, January 1, 2024 189,784 $ 11.51 Granted 138,838 11.38 Vested (39,790 ) 11.52 Forfeited (11,200 ) 12.29 Unvested shares outstanding, March 31, 2024 277,632 11.41

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2024 2023 Revenue: Electronic Test $ 11,116 $ 10,371 Environmental Technologies 6,828 8,042 Process Technologies 11,880 13,506 Total revenue $ 29,824 $ 31,919 Income from divisional operations: Electronic Test $ 1,813 $ 2,578 Environmental Technologies 15 1,013 Process Technologies 1,961 2,676 Total income from divisional operations 3,789 6,267 Corporate expenses (2,702 ) (2,205 ) Acquired intangible amortization (595 ) (544 ) Interest expense (140 ) (182 ) Other income (expense) 435 58 Earnings before income tax expense $ 787 $ 3,394
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended 2024 2023 Revenue: U.S. $ 10,477 $ 11,090 Foreign 19,347 20,829 $ 29,824 $ 31,919
Long-Lived Assets by Geographic Areas [Table Text Block]	March 31, December 31, 2024 2023 Property and equipment: U.S. $ 2,502 $ 2,502 Foreign 2,269 688 $ 4,771 $ 3,190
Asset [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	March 31, December 31, 2024 2023 Identifiable assets: Electronic Test $ 75,508 $ 32,505 Environmental Technologies 16,624 16,772 Process Technologies 57,815 56,842 Corporate 9,580 28,710 $ 159,527 $ 134,829

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual) € in Thousands					3 Months Ended
	Mar. 12, 2024 USD ($) shares	Mar. 12, 2024 EUR (€) shares	May 11, 2023 USD ($) shares	Mar. 08, 2023	Mar. 31, 2024	Mar. 12, 2024 EUR (€)
Number of Operating Segments				2	3
At-the-Market Issuance Sales Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares			921,797
Aggregate Offering Price of Stock			$ 20,000
Stock Issued During Period, Value, New Issues			$ 19,244
Commission Fee, Percentage of Gross Proceeds			3%
Alfamation [Member]
Business Combination, Consideration Transferred	$ 22,353,000	€ 20,000
Payments to Acquire Businesses, Gross	$ 19,674,000	€ 18,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	187,432	187,432
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 2,086,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	593,000	€ 542
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Debt	$ 9,418,000					€ 8,616

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Inventory Write-down	$ 176	$ 135
Deferred Grant Proceeds	298
City of Rochester and State of New York [Member]
Contingent Liability, Repayment of State and Local Grant Funds Received			$ 550
Covenant, Future Amount Receivable	123		$ 87
Electronic Test [Member]
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ 48

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Weighted Average Common Shares (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted average common shares outstanding–basic (in shares)	12,026,361	10,755,729
Unvested shares of restricted stock and employee stock options (in shares)	131,936	332,935
Weighted average common shares and common share equivalents outstanding–diluted (in shares)	12,158,297	11,088,664
Average number of potentially dilutive securities excluded from calculation because their effect was anti-dilutive during the period (in shares)	434,584	154,429

Note 3 - Acquisition (Details T

Note 3 - Acquisition (Details Textual) € in Thousands, $ in Thousands			1 Months Ended	3 Months Ended
	Mar. 12, 2024 USD ($) ft² shares	Mar. 12, 2024 EUR (€) shares	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 12, 2024 EUR (€) ft²
Alfamation [Member]
Revenues			$ 1,379
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest			$ (101)
Alfamation [Member]
Business Combination, Consideration Transferred	$ 22,353	€ 20,000
Payments to Acquire Businesses, Gross	$ 19,674	€ 18,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	187,432	187,432
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 2,086
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	593	€ 542
Business Combination, Acquisition Related Costs	$ 1,013			$ 1,013
Lessee, Operating Lease, Term of Contract (Year)	6 years				6 years
Area of Real Estate Property (Square Foot) | ft²	51,817				51,817
Annual Lease Payments	$ 284				€ 260

Note 3 - Acquisition - Acquired

Note 3 - Acquisition - Acquired assets and Liabilities Assumed (Details) € in Thousands, $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 12, 2024 USD ($)	Mar. 12, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Goodwill	$ 33,278			$ 21,728
Alfamation [Member]
Goodwill		$ 11,796
Identifiable intangible assets		13,087
Cash		811
Trade accounts receivable		4,004
Inventories		11,243
Other current assets		2,169
Property and equipment		1,597
Other assets		1,650
Accounts payable		4,644
Accrued expenses		4,311
Other current liabilities		278
Deferred tax liability		2,391
Debt (current and long-term)		9,418	€ 8,616
Other non-current liabilities		2,962
Total purchase price		$ 22,353

Note 3 - Acquisition - Intangib

Note 3 - Acquisition - Intangible Assets (Details) - Alfamation [Member] - USD ($) $ in Thousands		3 Months Ended
	Mar. 12, 2024	Mar. 31, 2024
Finite-lived intangible assets	$ 9,688	$ 9,688
Useful life (Year)	9 years 10 months 24 days
Indefinite-lived intangible assets		$ 3,399
Total intangible assets	$ 13,087
Trade Names [Member]
Indefinite-lived intangible assets	3,399
Customer Relationships [Member]
Finite-lived intangible assets	$ 5,949
Useful life (Year)	15 years
Technology-Based Intangible Assets [Member]
Finite-lived intangible assets	$ 340
Useful life (Year)	10 years
Customer-Related Intangible Assets [Member]
Finite-lived intangible assets	$ 3,399
Useful life (Year)	1 year

Note 3 - Acquisition - Proforma

Note 3 - Acquisition - Proforma Information (Details) - Alfamation [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 34,752	$ 38,473
Net earnings	$ 480	$ 3,227
Diluted earnings per share (in dollars per share)	$ 0.04	$ 0.29

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Current Liabilities [Member]
Business Combination, Contingent Consideration, Liability, Current	$ 247	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Interest Rate Swap [Member]
Interest rate swap	$ 271	$ 285
Interest rate swap	271	285
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest rate swap	0	0
Interest rate swap	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest rate swap	271	285
Interest rate swap	271	285
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest rate swap	0	0
Interest rate swap	0	0
Acculogic [Member]
Contingent consideration liability	(1,069)	(1,093)
Acculogic [Member] | Fair Value, Inputs, Level 1 [Member]
Contingent consideration liability	0	0
Acculogic [Member] | Fair Value, Inputs, Level 2 [Member]
Contingent consideration liability	0	0
Acculogic [Member] | Fair Value, Inputs, Level 3 [Member]
Contingent consideration liability	$ (1,069)	$ (1,093)

Note 4 - Fair Value Measureme_5

Note 4 - Fair Value Measurements - Changes in the Fair Value of Level 3 Contingent Consideration Liabilities (Details) - Contingent Consideration Liabilities [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 1,093
Impact of foreign currency translation adjustments	24
Balance	$ 1,069

Note 5 - Goodwill and Intangi_3

Note 5 - Goodwill and Intangible Assets - Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 21,728
Acquisition of Alfamation	11,796
Impact of foreign currency translation adjustments	(246)
Balance	33,278
Alfamation [Member]
Acquisition of Alfamation	$ 11,796

Note 5 - Goodwill and Intangi_4

Note 5 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill	$ 33,278	$ 21,728
Net Carrying Amount	28,819	16,596
Finite-lived, Gross Carrying Amount	30,248	20,801
Finite-lived, Accumulated Amortization	13,160	12,603
Net Carrying Amount, finite-lived	17,088	8,198
Indefinite-lived, Gross Carrying Amount	11,731	8,398
Net Carrying Amount, indefinite-lived	11,731	8,398
Intangible Assets, Gross Carrying Amount	41,979	29,199
Net Carrying Amount	28,819	16,596
Intangible Assets, Gross Carrying Amount	41,979	29,199
Net Carrying Amount	28,819	16,596
Trademarks [Member]
Indefinite-lived, Gross Carrying Amount	11,731	8,398
Net Carrying Amount, indefinite-lived	11,731	8,398
Customer Relationships [Member]
Finite-lived, Gross Carrying Amount	22,202	16,407
Finite-lived, Accumulated Amortization	10,082	9,687
Net Carrying Amount, finite-lived	12,120	6,720
Patented Technology [Member]
Finite-lived, Gross Carrying Amount	3,195	2,895
Finite-lived, Accumulated Amortization	1,504	1,417
Net Carrying Amount, finite-lived	1,691	1,478
Patents [Member]
Finite-lived, Gross Carrying Amount	590	590
Finite-lived, Accumulated Amortization	590	590
Customer Backlog [Member]
Finite-lived, Gross Carrying Amount	3,851	499
Finite-lived, Accumulated Amortization	574	499
Computer Software, Intangible Asset [Member]
Finite-lived, Gross Carrying Amount	270	270
Finite-lived, Accumulated Amortization	270	270
Trade Names [Member]
Finite-lived, Gross Carrying Amount	140	140
Finite-lived, Accumulated Amortization	140	140
Electronic Test [Member]
Goodwill	15,026	3,436
Net Carrying Amount	16,357	3,728
Net Carrying Amount	16,357	3,728
Net Carrying Amount	16,357	3,728
Environmental Technologies [Member]
Goodwill	1,817	1,817
Net Carrying Amount	796	794
Net Carrying Amount	796	794
Net Carrying Amount	796	794
Process Technologies [Member]
Goodwill	16,435	16,475
Net Carrying Amount	11,666	12,074
Net Carrying Amount	11,666	12,074
Net Carrying Amount	$ 11,666	$ 12,074

Note 5 - Goodwill and Intangi_5

Note 5 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Indefinite-lived Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 8,398
Impact of foreign currency translation adjustments	(66)
Alfamation [Member]
Acquisition of Alfamation	$ 3,399

Note 5 - Goodwill and Intangi_6

Note 5 - Goodwill and Intangible Assets - Changes in the Amount of the Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 12, 2024	Mar. 31, 2024
Balance		$ 8,198
Impact of foreign currency translation adjustments		(203)
Amortization		(595)
Alfamation [Member]
Acquisition of Alfamation	$ 9,688	$ 9,688

Note 5 - Goodwill and Intangi_7

Note 5 - Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024 (remainder)	$ 4,384
2025	2,863
2026	1,577
2027	1,083
2028	$ 952

Note 6 - Revenue From Contrac_3

Note 6 - Revenue From Contracts With Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 29,824	$ 31,919
Semiconductor Market [Member]
Revenue	14,967	17,683
Industrial Market [Member]
Revenue	4,187	3,137
Automotive [Member]
Revenue	3,958	2,597
Life Sciences [Member]
Revenue	653	1,513
Defense/ Aerospace [Member]
Revenue	3,239	2,839
Security [Member]
Revenue	541	966
Other Multi Markets [Member]
Revenue	2,279	3,184
Thermal Testing Products [Member]
Revenue	3,699	5,820
Thermal Process [Member]
Revenue	10,955	9,822
Semiconductor Production Test Products [Member]
Revenue	6,282	8,105
Video Imaging [Member]
Revenue	2,119	2,648
Flying Probe and In-circuit Testers [Member]
Revenue	2,744	1,160
Alfamation [Member]
Revenue	1,379	0
Service and Other Products [Member]
Revenue	2,646	4,364
End User [Member]
Revenue	21,430	21,704
OEM, Integrators and Distributor [Member]
Revenue	$ 8,394	$ 10,215

Note 7 - Major Customers (Detai

Note 7 - Major Customers (Details Textual)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Number of Major Customers	1	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Texas Instruments Incorporated [Member]
Concentration Risk, Percentage	15%	13%

Note 8 - Inventories - Inventor

Note 8 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Raw materials	$ 17,104	$ 15,948
Work in process	9,419	1,563
Inventory consigned to others	114	98
Finished goods	4,694	2,480
Total inventories	$ 31,331	$ 20,089

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) € in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) ft²	Mar. 31, 2023 USD ($)	Mar. 31, 2024 EUR (€) ft²	Mar. 12, 2024 USD ($) ft²	Mar. 12, 2024 EUR (€) ft²	Dec. 31, 2023 USD ($)
Operating Lease, Right-of-Use Asset, Periodic Reduction	$ 403	$ 391
Operating Lease, Right-of-Use Asset	6,270					$ 4,987
Increase (Decrease) in Operating Lease Liability	(447)	(423)
Operating Lease, Liability	6,661
Lease Facility in Singapore [Member]
Operating Lease, Right-of-Use Asset	82
Operating Lease, Liability	$ 82
Environmental Technologies in Germany [Member]
Operating Lease, Right-of-Use Asset		$ 90
Lessee, Operating Lease, Term of Contract (Year)		25 months
Operating Lease, Liability		$ 90
Process Technologies in Europe [Member] | Automobile Leases [Member]
Operating Lease, Right-of-Use Asset		$ 30
Lessee, Operating Lease, Term of Contract (Year)		36 months
Operating Lease, Liability		$ 30
Alfamation [Member]
Area of Real Estate Property (Square Foot) | ft²				51,817	51,817
Annual Lease Payments				$ 284	€ 260
Lessee, Operating Lease, Term of Contract (Year)				6 years	6 years
Alfamation [Member] | Warehouse and Office Space [Member]
Area of Real Estate Property (Square Foot) | ft²	51,817		51,817
Annual Lease Payments | €			€ 260
Operating Lease, Right-of-Use Asset	$ 1,758,000
Increase (Decrease) in Operating Lease Liability	$ 1,758,000

Note 9 - Leases - Lease Costs (

Note 9 - Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating lease cost	$ 451	$ 400
Short-term lease cost	$ 3	$ 3
Weighted average remaining lease term (in years) (Year)	4 years 6 months
Weighted average discount rate	5.30%
Minimum [Member]
Range of remaining lease terms (in years) (Year)	6 months
Maximum [Member]
Range of remaining lease terms (in years) (Year)	7 years 1 month 6 days

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024	$ 1,896
2025	1,644
2026	1,313
2027	1,093
2028	675
Thereafter	869
Total lease payments	7,490
Less imputed interest	(829)
Total	$ 6,661

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual) $ in Thousands				3 Months Ended
	Dec. 29, 2021 USD ($)	Oct. 28, 2021 USD ($)	Oct. 15, 2021 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 20, 2022 USD ($)
Interest Expense, Operating and Nonoperating				$ 140	$ 182
Debt Instrument, Covenant, Ratio of Consolidated Funded Debt to Consolidated EBITDA						3
Debt Instrument, Covenant, Fixed Charge Coverage Ratio						1.25
Long-Term Debt				11,017
Alfamation [Member]
Long-Term Debt				9,420
Short-Term Debt				$ 2,130
Debt, Weighted Average Interest Rate				4%
October 2021 Agreement [Member] | M&T Bank [Member]
Debt Instrument, Term (Year)			5 years
Debt Instrument, Interest Rate in Event of Default			2%
October 2021 Agreement [Member] | M&T Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 10,000
Interest Expense, Operating and Nonoperating				$ 140	$ 182
October 2021 Agreement [Member] | M&T Bank [Member] | 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%		7.40%
Amended Loan Agreement [Member] | M&T Bank [Member]
Long-Term Line of Credit, Total				$ 0
Amended Loan Agreement [Member] | M&T Bank [Member] | Term Note [Member]
Debt Instrument, Face Amount						$ 50,500
Debt Instrument, Unused Borrowing Capacity, Amount				$ 30,000
Debt Instrument, Long-term, Fixed Interest Rate Debt [Member] | Alfamation [Member]
Debt, Weighted Average Interest Rate				1.90%
Debt Instrument, Short-term, Variable Interest Rate Debt [Member] | Alfamation [Member]
Debt, Weighted Average Interest Rate				5%

Note 10 - Debt - Outstanding Le

Note 10 - Debt - Outstanding Letters of Credit (Details) - Letter of Credit [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
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, 2025
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 10 - Debt - Future Maturit

Note 10 - Debt - Future Maturities of Long-term Debt (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024 (remainder)	$ 3,075
2025	4,100
2026	3,842
Long-Term Debt	11,017
Alfamation [Member]
2024 (remainder)	4,987
2025	2,085
2026	1,293
Long-Term Debt	9,420
2027	807
2028	$ 248

Note 11 - Stock-based Compens_3

Note 11 - Stock-based Compensation Plan (Details Textual) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

15 Months Ended

Mar. 06, 2024 USD ($) shares

Jan. 16, 2024 USD ($) shares

May 08, 2023 USD ($) shares

Mar. 08, 2023 USD ($) shares

Mar. 09, 2022 USD ($) shares

Mar. 08, 2022

Oct. 01, 2021 shares

Mar. 10, 2021 shares

Aug. 31, 2020

Mar. 31, 2024 USD ($) $ / shares shares

Dec. 31, 2023

Mar. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2023

Mar. 31, 2024 USD ($) shares

Share-Based Payment Arrangement, Amount Capitalized | $

$ 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) | $ / shares

$ 6.55

$ 9.32

Number of Operating Segments

2

3

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)

138,838

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)

39,790

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $

$ 463

$ 381

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%

Performance-Based Restricted Stock [Member] | Members of The Senior Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

5,000

18,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares (in shares)

6,000

Performance-Based Restricted Stock [Member] | Members of The Senior Management [Member] | Share-Based Payment Arrangement, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

75%

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)

6,000

6,000

Performance-Based Restricted Stock [Member] | Members of The Senior Management [Member] | Share-Based Payment Arrangement, Vesting on Third Anniversary of Grant Date [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)

12,000

Performance-Based Restricted Stock [Member] | Members of The Senior Management [Member] | Share-Based Payment Arrangement, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

100%

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)

6,000

6,000

Performance-Based Restricted Stock [Member] | Members of The Senior Management [Member] | Vesting on January 1, 2025, Based on Performance Metrics [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

0%

50%

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%

Performance-Based Restricted Stock [Member] | Chief Executive Officer and Chief Financial Officer [Member]

Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Lower Range

0%

0%

Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights Percentage Upper Range

150%

150%

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

18,888

20,493

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Fair Value | $

$ 303

$ 200

Performance-Based Restricted Stock [Member] | Chief Executive Officer and Chief Financial Officer [Member] | Share-Based Payment Arrangement, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

100%

Share-Based Compensation Arrangement by Share-Based Payment Award, Probable Final Vesting Percentage

0%

50%

Performance-Based Restricted Stock [Member] | President of Environmental Technologies [Member]

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)

5,081

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Fair Value | $

$ 108

Performance-Based Restricted Stock [Member] | President of Environmental Technologies [Member] | Share-Based Payment Arrangement, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

100%

Performance-Based Restricted Stock [Member] | President of Process Technologies [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

8,231

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Fair Value | $

$ 100

Performance-Based Restricted Stock [Member] | President of Process Technologies [Member] | Share-Based Payment Arrangement, Tranche One [Member]

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%

Performance-Based Restricted Stock [Member] | Chief Executive Officer, Chief Financial Officer, and Division Presidents [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

33,539

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Fair Value | $

$ 380

Performance-Based Restricted Stock [Member] | Chief Executive Officer, Chief Financial Officer, and Division Presidents [Member] | Share-Based Payment Arrangement, Tranche One [Member]

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%

The 2023 Stock Incentive Plan [Member]

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $

$ 4,813

$ 4,813

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)

2 years 6 months

Restricted Stock Vesting in Three Years [Member] | Restricted Stock [Member] | Vesting Based On Performance Metrics [Member]

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%

Note 11 - Stock-based Compens_4

Note 11 - Stock-based Compensation Plan - Allocation of Share-based Compensation Expense (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Expense	$ 349	$ 474
Cost of Sales [Member]
Share-Based Payment Arrangement, Expense	31	19
Selling and Marketing Expense [Member]
Share-Based Payment Arrangement, Expense	11	10
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expense	4	10
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense	$ 303	$ 435

Note 11 - Stock-based Compens_5

Note 11 - Stock-based Compensation Plan - Stock Options Valuation Assumptions (Details) - Share-Based Payment Arrangement, Option [Member]	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Risk-free interest rate	3.98%	3.94%
Dividend yield	0%	0%
Expected common stock market price volatility factor	57%	57%
Weighted average expected life of stock options (years) (Year)	6 years 3 months	6 years 3 months

Note 11 - Stock-based Compens_6

Note 11 - Stock-based Compensation Plan - Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Options outstanding, number of shares (in shares) | shares	505,006
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 10.46
Granted, number of shares (in shares) | shares	165,364
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 11.33
Exercised, number of shares (in shares) | shares	(4,925)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 3.69
Canceled, number of shares (in shares) | shares	(23,401)
Canceled, weighted average exercise price (in dollars per share) | $ / shares	$ 10.27
Options outstanding, number of shares (in shares) | shares	642,044
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 10.74

Note 11 - Stock-based Compens_7

Note 11 - Stock-based Compensation Plan - Stock Option Activity (Details) (Parentheticals) - shares	Mar. 31, 2024	Dec. 31, 2023
Options exercisable (in shares)	228,364	171,735

Note 11 - Stock-based Compens_8

Note 11 - Stock-based Compensation Plan - Unvested Stock Activity (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Unvested shares outstanding (in shares) | shares	189,784
Unvested shares outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 11.51
Granted, number of shares (in shares) | shares	138,838
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 11.38
Vested, number of shares (in shares) | shares	(39,790)
Vested, weighted average exercise price (in dollars per share) | $ / shares	$ 11.52
Forfeited, number of shares (in shares) | shares	(11,200)
Forfeited, weighted average exercise price (in dollars per share) | $ / shares	$ 12.29
Unvested shares outstanding (in shares) | shares	277,632
Unvested shares outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 11.41

Note 12 - Employee Stock Purc_2

Note 12 - Employee Stock Purchase Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		30 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Jun. 23, 2021
Stock Issued During Period, Value, Employee Stock Purchase Plan		$ 54	$ 48
Share Price (in dollars per share)	$ 13.25	$ 13.25		$ 13.25
Share-based Compensation Arrangement by Share-based Payment Award, Discount Amount		$ 8	$ 8
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)	4,104			47,037
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 46			$ 460
Shares Issued, Price Per Share (in dollars per share)	$ 11.26	$ 11.26		$ 11.26
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		$ 8
Share-Based Payment Arrangement, Expense				$ 81

Note 13 - Employee Benefit Pl_2

Note 13 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Deferred Compensation Liability, Classified, Noncurrent	$ 1,596
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	$ 389	$ 372
The Ambrell Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	10%
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
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 389	$ 372

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2024
Number of Reportable Segments	3

Note 14 - Segment Information -

Note 14 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net revenues	$ 29,824	$ 31,919
Earnings before income tax expense	787	3,394
Acquired intangible amortization	(595)	(544)
Interest expense	(140)	(182)
Other income (expense)	435	58
Operating Segments [Member]
Net revenues	29,824	31,919
Earnings before income tax expense	3,789	6,267
Operating Segments [Member] | Electronic Test [Member]
Net revenues	11,116	10,371
Earnings before income tax expense	1,813	2,578
Operating Segments [Member] | Environmental Technologies [Member]
Net revenues	6,828	8,042
Earnings before income tax expense	15	1,013
Operating Segments [Member] | Process Technologies [Member]
Net revenues	11,880	13,506
Earnings before income tax expense	1,961	2,676
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Earnings before income tax expense	$ (2,702)	$ (2,205)

Note 14 - Segment Information_3

Note 14 - Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Identifiable Assets	$ 159,527	$ 134,829
Electronic Test [Member]
Identifiable Assets	75,508	32,505
Environmental Technologies [Member]
Identifiable Assets	16,624	16,772
Process Technologies [Member]
Identifiable Assets	57,815	56,842
Corporate Segment [Member]
Identifiable Assets	$ 9,580	$ 28,710

Note 14 - Segment Information_4

Note 14 - Segment Information - Net Revenue From Unaffiliated Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 29,824	$ 31,919
UNITED STATES
Revenue	10,477	11,090
Non-US [Member]
Revenue	$ 19,347	$ 20,829

Note 14 - Segment Information_5

Note 14 - Segment Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property and Equipment	$ 4,771	$ 3,190
UNITED STATES
Property and Equipment	2,502	2,502
Non-US [Member]
Property and Equipment	$ 2,269	$ 688