Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 30, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | HARVARD BIOSCIENCE INC | |
Entity Central Index Key | 0001123494 | |
Trading Symbol | hbio | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 38,380,403 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, $0.01 par value |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 5,882 | $ 8,335 |
Accounts receivable, net | 15,425 | 20,704 |
Inventories | 23,143 | 22,061 |
Other current assets | 3,715 | 2,472 |
Total current assets | 48,165 | 53,572 |
Property, plant and equipment, net | 4,488 | 4,776 |
Operating lease right-of-use assets | 8,127 | 8,463 |
Goodwill | 56,792 | 57,381 |
Intangible assets, net | 36,807 | 38,405 |
Other long-term assets | 1,881 | 2,273 |
Total assets | 156,260 | 164,870 |
Current liabilities: | ||
Current portion of long-term debt | 2,807 | 6,900 |
Current portion of operating lease liabilities | 2,297 | 2,424 |
Accounts payable | 6,625 | 5,339 |
Deferred revenue | 3,673 | 3,949 |
Accrued income taxes | 624 | 609 |
Other current liabilities | 7,449 | 6,091 |
Total current liabilities | 23,475 | 25,312 |
Long-term debt | 46,280 | 46,917 |
Deferred tax liability | 1,767 | 1,974 |
Operating lease liabilities | 7,867 | 8,224 |
Other long-term liabilities | 862 | 749 |
Total liabilities | 80,251 | 83,176 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, par value $0.01 per share, 5,000,000 shares authorized | ||
Common stock, par value $0.01 per share, 80,000,000 shares authorized; 46,120,640 and 45,933,715 shares issued and 38,375,133 and 38,188,208 shares outstanding, respectively | 438 | 438 |
Additional paid-in-capital | 229,740 | 229,189 |
Accumulated deficit | (129,092) | (124,576) |
Accumulated other comprehensive loss | (14,409) | (12,689) |
Treasury stock at cost, 7,745,507 common shares | (10,668) | (10,668) |
Total stockholders' equity | 76,009 | 81,694 |
Total liabilities and stockholders' equity | $ 156,260 | $ 164,870 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 80,000,000 | 80,000,000 |
Common stock, shares issued (in shares) | 46,120,640 | 45,933,715 |
Common stock, shares outstanding (in shares) | 38,375,133 | 38,188,208 |
Treasury stock, common shares (in shares) | 7,745,507 | 7,745,507 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenues | $ 23,771 | $ 28,202 |
Cost of revenues | 10,789 | 12,048 |
Gross profit | 12,982 | 16,154 |
Sales and marketing expenses | 5,579 | 6,306 |
General and administrative expenses | 6,759 | 5,803 |
Research and development expenses | 2,490 | 2,735 |
Amortization of intangible assets | 1,427 | 1,430 |
Total operating expenses | 16,255 | 16,274 |
Operating loss | (3,273) | (120) |
Other expense: | ||
Interest expense, net | (1,299) | (1,405) |
Other (income) expense, net | 111 | (269) |
Total other expense | (1,188) | (1,674) |
Loss before income taxes | (4,461) | (1,794) |
Income tax expense | 55 | 576 |
Net loss | $ (4,516) | $ (2,370) |
Loss per share: | ||
Basic loss per common share (in dollars per share) | $ (0.12) | $ (0.06) |
Diluted loss per common share (in dollars per share) | $ (0.12) | $ (0.06) |
Weighted-average common shares: | ||
Basic (in shares) | 38,328,791 | 37,644,684 |
Diluted (in shares) | 38,328,791 | 37,644,684 |
Net Loss | $ (4,516) | $ (2,370) |
Other comprehensive (loss): | ||
Foreign currency translation adjustments | (1,576) | 4 |
Derivatives qualifying as hedges, net of tax: | ||
(Loss) gain on derivative instruments designated and qualifying as cash flow hedges | (216) | (196) |
Amounts reclassified from accumulated other comprehensive loss to net loss | 72 | 17 |
Derivatives qualifying as hedges, net of tax | (144) | (179) |
Other comprehensive (loss) | (1,720) | (175) |
Comprehensive loss | $ (6,236) | $ (2,545) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 45,124 | |||||
Balance at Dec. 31, 2018 | $ 436 | $ 226,377 | $ (119,889) | $ (13,532) | $ (10,668) | $ 82,724 |
Vesting of restricted stock units (in shares) | 440 | |||||
Vesting of restricted stock units | ||||||
Shares withheld for taxes (in shares) | (134) | |||||
Shares withheld for taxes | (429) | (429) | ||||
Stock compensation expense | 591 | 591 | ||||
Net (loss) income | (2,370) | (2,370) | ||||
Other comprehensive loss | (175) | (175) | ||||
Stock option exercises (in shares) | 3 | |||||
Stock option exercises | 8 | 8 | ||||
Net Loss | (2,370) | (2,370) | ||||
Balance (in shares) at Mar. 31, 2019 | 45,433 | |||||
Balance at Mar. 31, 2019 | $ 436 | 226,547 | (122,259) | (13,707) | (10,668) | 80,349 |
Balance (in shares) at Dec. 31, 2019 | 45,934 | |||||
Balance at Dec. 31, 2019 | $ 438 | 229,189 | (124,576) | (12,689) | (10,668) | 81,694 |
Vesting of restricted stock units (in shares) | 268 | |||||
Vesting of restricted stock units | ||||||
Shares withheld for taxes (in shares) | (81) | |||||
Shares withheld for taxes | (242) | (242) | ||||
Stock compensation expense | 793 | 793 | ||||
Net (loss) income | (4,516) | (4,516) | ||||
Other comprehensive loss | (1,720) | (1,720) | ||||
Net Loss | (4,516) | (4,516) | ||||
Balance (in shares) at Mar. 31, 2020 | 46,121 | |||||
Balance at Mar. 31, 2020 | $ 438 | $ 229,740 | $ (129,092) | $ (14,409) | $ (10,668) | $ 76,009 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities: | ||
Net Loss | $ (4,516) | $ (2,370) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 484 | 538 |
Amortization of intangible assets | 1,427 | 1,430 |
Amortization of deferred financing costs | 98 | 91 |
Stock-based compensation expense | 793 | 591 |
Provision for allowance for doubtful accounts | 4 | 348 |
Other non-cash charges | (166) | 4 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 5,149 | 2,331 |
Inventories | (1,413) | (1,416) |
Other current assets | (767) | 536 |
Accounts payable | 1,322 | (118) |
Accrued income taxes | 6 | 380 |
Other current liabilities | 1,411 | (76) |
Deferred revenue | (256) | (116) |
Other long-term liabilities | (705) | (143) |
Net cash provided by operating activities | 2,871 | 2,010 |
Cash flows from investing activities: | ||
Additions to property, plant and equipment | (241) | (143) |
Other | (9) | |
Net cash used in investing activities | (241) | (152) |
Cash flows from financing activities: | ||
Repayments of debt | (4,829) | (4,583) |
Taxes paid for issuance of stock | (242) | (421) |
Net cash used in financing activities | (5,071) | (5,004) |
Effect of exchange rate changes on cash | (12) | 3 |
Decrease in cash and cash equivalents | (2,453) | (3,143) |
Cash and cash equivalents at beginning of period | 8,335 | 8,173 |
Cash and cash equivalents at end of period | 5,882 | 5,030 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 1,237 | 1,406 |
Cash paid for income taxes | $ 110 | $ 94 |
Note 1 - Basis of Presentation,
Note 1 - Basis of Presentation, Risks and Uncertainties, and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Basis of Presentation, Risks and Uncertainties, and Summary of Significant Accounting Policies Basis of Presentation The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, Harvard Bioscience or the Company) as of March 31, 2020 three March 31, 2020 2019, December 31, 2019 not not 10 December 31, 2019, March 16, 2020. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of March 31, 2020, three March 31, 2020 2019 three March 31, 2020 2019, three March 31, 2020 not Risks and Uncertainties On March 11, 2020, 19 19 19 As a result of these market and economic conditions, in accordance with the guidelines set forth in ASC 350 360, March 31, 2020, no 19. 2020. Summary of Significant Accounting Policies The accounting policies underlying the accompanying unaudited consolidated financial statements are those set forth in Note 2 10 December 31, 2019, March 16, 2020. no three March 31, 2020. |
Note 2 - Recently Issued Accoun
Note 2 - Recently Issued Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | 2. Recently Issued Accounting Pronouncements Accounting Pronouncements to be Adopted In June 2016, No. 2016 13, Financial Instruments—Credit Losses (Topic 326 may 2016 13 2016 13 December 15, 2022, 2016 13 In August 2018, No. 2018 14, Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans 715 December 15, 2020, not In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 2019 12 January 1, 2021. |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. Accumulated Other Comprehensive Loss Changes in each component of accumulated other comprehensive loss, net of tax are as follows: Foreign currency Derivatives translation qualifying as Defined benefit (in thousands) adjustments hedges pension plans Total Balance at December 31, 2019 $ (13,173 ) $ (603 ) $ 1,087 $ (12,689 ) Other comprehensive (loss) income before reclassifications (1,576 ) (216 ) (1,792 ) Amounts reclassified from AOCI into Income - 72 72 Net other comprehensive (loss) income (1,576 ) (144 ) - (1,720 ) Balance at March 31, 2020 $ (14,749 ) $ (747 ) $ 1,087 $ (14,409 ) |
Note 4 - Goodwill and Intangibl
Note 4 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 4. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill for the three March 31, 2020 March 31, 2020 (in thousands) Balance at December 31, 2019 $ 57,381 Effect of change in currency translation (589 ) Balance at March 31, 2020 $ 56,792 Intangible Assets March 31, 2020 December 31, 2019 (in thousands) Intangible assets: Weighted Gross Accumulated Net Gross Accumulated Net Distribution agreements/customer relationships 8.4 $ 17,685 $ (6,550 ) $ 11,135 $ 17,891 $ (6,340 ) $ 11,551 Existing technology 5.5 40,923 (20,327 ) 20,596 41,222 (19,698 ) 21,524 Trade names 5.3 8,511 (3,667 ) 4,844 7,692 (3,497 ) 4,195 Patents - 206 (206 ) - 218 (218 ) - Indefinite-lived tradename NA 232 - 232 1,135 0 1,135 Total intangible assets $ 67,557 $ (30,750 ) $ 36,807 $ 68,158 $ (29,753 ) $ 38,405 * Weighted average life as of March 31, 2020. During the three March 31, 2020, $0.9 4 Intangible asset amortization expense was $1.4 three March 31, 2020 2019. $4.1 2020, $5.5 December 31, 2021, $5.5 December 31, 2022, $5.3 December 31, 2023, $5.3 December 31, 2024, $4.2 December 31, 2025. |
Note 5 - Inventories
Note 5 - Inventories | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories Inventories consist of the following: March 31, December 31, (in thousands) Finished goods $ 5,280 $ 5,561 Work in process 3,160 3,153 Raw materials 14,703 13,347 Total $ 23,143 $ 22,061 |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property, Plant and Equipment Property, plant, and equipment consist of the following: March 31, December 31, (in thousands) Machinery and equipment $ 7,437 $ 7,198 Computer equipment and software 8,763 8,954 Leasehold improvements 2,157 2,151 Furniture and fixtures 1,309 1,321 Automobiles 90 92 19,756 19,716 Less: accumulated depreciation (15,268 ) (14,940 ) Property, plant and equipment, net $ 4,488 $ 4,776 |
Note 7 - Restructuring and Othe
Note 7 - Restructuring and Other Exit Costs | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 7. Restructuring and Other Exit Costs During 2019, The restructuring program is expected to be completed by the end of 2020. The following table summarizes the activity for the accrued restructuring liability for the three March 31, 2020: (in thousands) Severance Other Total Balance at December 31, 2019 $ 364 $ 4 $ 368 Restructuring charges 834 40 874 Adjustments (45 ) - (45 ) Cash payments (569 ) (36 ) (605 ) Balance at March 31, 2020 $ 584 $ 8 $ 592 As of March 31, 2020, $0.6 twelve |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 8. Related Party Transactions As part of the acquisitions of Multi Channel Systems MCS GmbH (MCS) and Triangle BioSystems, Inc. (TBSI) in 2014, $0.1 three March 31, 2020 2019. |
Note 9 - Employee Benefit Plans
Note 9 - Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 9. Employee Benefit Plans The Company’s subsidiary in the United Kingdom, Biochrom Limited, maintains two 2014, For the three March 31, 2020 2019, $0.1 $0.2 three March 31, 2020 2019, $0.2 $0.7 2020. December 31, 2019, $1.1 |
Note 10 - Leases
Note 10 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. Leases The Company has noncancelable operating leases for office, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2024 The components of lease expense for the three March 31, 2020 2019 Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (in thousands) (in thousands) Operating lease cost $ 535 $ 523 Short term lease cost 42 76 Sublease income (107 ) (102 ) Total lease cost $ 470 $ 497 Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (in thousands) (in thousands) Cash paid for amounts included in the measurement $ 687 $ 702 Supplemental balance sheet information related to the Company's operating leases was as follows: March 31, 2020 December 31, 2019 (in thousands) (in thousands) Operating lease right-of use assets $ 8,127 $ 8,463 Current portion, operating lease liabilities $ 2,297 $ 2,424 Operating lease liabilities, long term 7,867 8,224 Total operating lease liabilities $ 10,164 $ 10,648 Weighted average remaining lease term (in years) 8.0 8.1 Weighted average discount rate 9.2 % 9.2 % Future minimum lease payments for operating leases, with initial or remaining terms in excess of one March 31, 2020, Operating Leases (in thousands) 2021 $ 2,297 2022 1,905 2023 1,842 2024 1,827 2025 1,367 Thereafter 5,574 Total lease payments 14,812 Less interest (4,648 ) Total operating lease liabilities $ 10,164 |
Note 11 - Capital Stock and Sto
Note 11 - Capital Stock and Stock-based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 11. Capital Stock and Stock-Based Compensation Employee Stock Purchase Plan (as amended, the ESPP) Under the Company’s ESPP, participating employees can authorize the Company to withhold a portion of their base pay during consecutive six 85% six June 30 December 31. May 16, 2019, 350,000 1,400,000 1,081,404 December 31, 2019. no March 31, 2020. March 31, 2020, 318,596 Third Amended and Restated 2000 On May 25, 2011, April 2, 2018. 2018 3,400,000 20,908,929. March 31, 2020, 275,419 Restricted Stock Units with a Market Condition (the Market Condition RSUs) In 2019, 2019 2019 one third three 2019 As of March 31, 2020, may 529,491 150% Stock-Based Payment Awards The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC 718, no Stock option and restricted stock unit activity for the three March 31, 2020 Stock Options Restricted Stock Units Market Condition RSU's Weighted Stock Average Restricted Market Options Exercise Stock Units Grant Date Condition RSU's Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2019 2,266,122 $ 3.93 1,590,450 $ 2.27 529,491 $ 1.67 Granted 42,373 2.58 142,766 3.00 - - Vested (RSUs) - - (267,588 ) 2.75 - - Cancelled / forfeited (49,074 ) 3.81 (31,795 ) 3.02 - - Balance at March 31, 2020 2,259,421 $ 3.90 1,433,833 $ 2.24 529,491 $ 1.67 For the three March 31, 2020, not $3.3 two Valuation and Expense Information under Stock-Based-Payment Accounting Stock-based compensation expense for the three March 31, 2020 2019 Three Months Ended March 31, 2020 2019 (in thousands) Cost of product revenues $ 10 $ 13 Sales and marketing 51 (7 ) General and administrative 696 551 Research and development 36 34 Total stock-based compensation $ 793 $ 591 The Company did not The weighted-average estimated fair value per share of stock options granted during the three March 31, 2020 $1.18 2020 Volatility 54.83 % Risk-free interest rate 1.16 % Expected holding period (in years) 4.6 The Company used historical volatility to calculate the expected volatility as of March 31, 2020. one four ten Earnings per share Basic earnings per share is calculated by dividing net income by the number of weighted average common shares outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, restricted stock units and Market Condition RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted earnings per share consists of the following: Three Months Ended March 31, 2020 2019 Basic 38,328,791 37,644,684 Diluted 38,328,791 37,644,684 Excluded from the shares used in calculating the diluted earnings per common share in the above table are options, restricted stock units and Market Condition RSUs of approximately 4,222,745 3,691,304 three March 31, 2020 2019, |
Note 12 - Long Term Debt
Note 12 - Long Term Debt | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 12. Long term Debt On January 31, 2018, On August 16, 2018, November 4, 2019, September 30, 2019 The Financing Agreement provided for senior secured credit facilities (the Senior Secured Credit Facilities) comprised of a $64.0 $25.0 March 31, 2020, $4.6 Commencing on March 31, 2018, $0.4 three $0.6 four $0.8 2023. ten 50% three March 31, 2020, $4.0 December 31, 2019, $4.0 $1.0 The obligations of the Borrower under the Senior Secured Credit Facilities are unconditionally guaranteed by the Company and certain of the Company’s existing and subsequently acquired or organized subsidiaries. The Senior Secured Credit Facilities and related guarantees are secured on a first 65% Interest on all loans under the Senior Secured Credit Facilities is paid monthly. Borrowings under the Financing Agreement accrue interest at a per annum rate equal to, at the Borrower’s option, a base rate plus 4.75% 6.25%. 1.25% 4.25% 2021. The Financing Agreement contains customary representations and warranties and affirmative covenants applicable to the Company and its subsidiaries and also contains certain restrictive covenants, including, among others, limitations on the incurrence of additional debt, liens on property, acquisitions and investments, loans and guarantees, mergers, consolidations, liquidations and dissolutions, asset sales, dividends and other payments in respect of the Company’s capital stock, prepayments of certain debt, transactions with affiliates and modifications of organizational documents, material contracts, affiliated practice agreements and certain debt agreements. The Financing Agreement contains customary events of default and is subject to covenant and working capital borrowing restrictions. The Company is compliant with all covenants under the Financing Agreement as of March 31, 2020. The Company’s covenants include a requirement to maintain a maximum leverage ratio among other financial and non-financial covenants, as defined in the Financing Agreement. The maximum permitted leverage is the ratio of total debt to consolidated EBITDA, as defined in the Financing Agreement, with a maximum ratio of 3.50 March 31, 2020, 3.25 three June 30, 2020 19 Based on the Company’s current operating plans, including actions taken to mitigate the impact of COVID- 19, 19 19 may no As of March 31, 2020, 8.40%. As of March 31, 2020, December 31, 2019, March 31, December 31, 2020 2019 (in thousands) Long-term debt: Term loan $ 50,168 54,997 Revolving line - - Total unamortized deferred financing costs (1,081 ) (1,180 ) Total debt 49,087 53,817 Less: current installments (3,200 ) (3,200 ) Less: excess cash flow sweep - (4,093 ) Current unamortized deferred financing costs 393 393 Long-term debt $ 46,280 $ 46,917 |
Note 13 - Derivatives
Note 13 - Derivatives | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 13. Derivatives The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not not By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, the Company is not Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may The Company uses variable-rate LIBOR debt to finance its operations. The debt obligations expose the Company to variability in interest payments due to changes in interest rates. Management believes that it is prudent to limit the variability of a portion of its interest payments. To meet this objective, management enters into LIBOR based interest rate swap agreements to manage fluctuations in cash flows resulting from changes in the benchmark interest rate of LIBOR. These swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives LIBOR based variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the notional amount of its debt hedged. As disclosed in Note 12, January 31, 2018, $64.0 $25.0 $36.0 January 1, 2023 2.72%. 815 The following table presents the notional amount and fair value of the Company’s derivative instruments as of March 31, 2020 December 31, 2019. March 31, 2020 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long term liabilities $ 27,289 $ (747 ) December 31, 2019 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long term liabilities $ 28,821 $ (603 ) (a) See Note 14 All of the Company’s derivative instruments are designated as hedging instruments. The Company has structured its interest rate swap agreements to be 100% no 815, The following table summarizes the effect of derivatives designated as cash flow hedging instruments and their classification within comprehensive loss for the three March 31, 2020 2019: Derivatives in Hedging Relationships Amount of gain (loss) recognized in OCI on derivative Three Months Ended March 31, 2020 2019 (in thousands) Interest rate swaps $ (216 ) $ (196 ) The following table summarizes the reclassifications out of accumulated other comprehensive loss for the three March 31, 2020 2019: Details about AOCI Components Amount reclassified from AOCI into income Three Months Ended March 31, Location of amount reclassified from AOCI 2020 2019 into income (effective portion) (in thousands) Interest rate swaps $ 72 $ 17 Interest expense As of March 31, 2020, $0.4 twelve twelve |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 14. Fair Value Measurement Fair value measurement is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is established, which prioritizes the inputs used in measuring fair value into three Level 1—Quoted Level 2—Inputs, Level 3—Unobservable The following tables present the fair value hierarchy for those assets or liabilities measured at fair value on a recurring basis: Fair Value as of March 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities): Interest rate swap agreements $ - $ (747 ) $ - $ (747 ) Fair Value as of December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities): Interest rate swap agreements $ - $ (603 ) $ - $ (603 ) The Company uses the market approach technique to value its financial liabilities. The Company’s financial assets and liabilities carried at fair value include derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s interest rate swap agreements was based on LIBOR yield curves at the reporting date. |
Note 15 - Other Current Liabili
Note 15 - Other Current Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accrued Expenses Disclosure [Text Block] | 15. Other Current Liabilities March 31, December 31, 2020 2019 (in thousands) Compensation and payroll $ 2,896 $ 2,554 Professional fees 567 395 Warranty costs 201 252 Local taxes, including VAT 91 345 Customer related costs 1,179 963 Interest 490 425 Other 2,025 1,157 Total $ 7,449 $ 6,091 |
Note 16 - Revenues
Note 16 - Revenues | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 16. Revenues The following table represents a disaggregation of revenue from contracts with customers. Revenue originating from the following geographic areas for the three March 31, 2020 2019 Three Months Ended March 31, 2020 (in thousands) United United Germany Rest of the Total Instruments, equipment, software and accessories $ 15,956 $ 2,507 $ 2,573 $ 1,901 $ 22,937 Service, maintenance and warranty contracts 575 204 39 16 834 Total revenues $ 16,531 $ 2,711 $ 2,612 $ 1,917 $ 23,771 Three Months Ended March 31, 2019 (in thousands) United United Germany Rest of the Total Instruments, equipment, software and accessories $ 18,671 $ 3,129 $ 2,913 $ 2,044 $ 26,757 Service, maintenance and warranty contracts 1,143 190 97 15 1,445 Total revenues $ 19,814 $ 3,319 $ 3,010 $ 2,059 $ 28,202 Deferred revenue The Company had approximately $3.7 March 31, 2020 2019, Three Months Ended March 31, 2020 (in thousands) Service Customer Total Balance, beginning of period $ 1,587 $ 2,362 $ 3,949 Deferral of revenue 308 223 531 Recognition of deferred revenue (499 ) (322 ) (821 ) Effect of foreign currency translation 14 - 14 Balance, end of period $ 1,410 $ 2,263 $ 3,673 Three Months Ended March 31, 2019 (in thousands) Service Customer Total Balance, beginning of period $ 1,659 $ 2,161 $ 3,820 Deferral of revenue 845 111 956 Recognition of deferred revenue (848 ) (223 ) (1,071 ) Effect of foreign currency translation 10 - 10 Balance, end of period $ 1,666 $ 2,049 $ 3,715 Allowance for Doubtful Accounts Allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts receivable. A rollforward of allowance for doubtful accounts is as follows: Three Months Ended March 31, 2020 2019 (in thousands) Balance, beginning of period $ 325 $ 332 Bad debt expense 4 348 Charge-offs and other recoveries (31 ) (337 ) Effect of foreign currency translation (1 ) (2 ) Balance, end of period $ 297 $ 341 Concentrations No 10% three March 31, 2020, 2019. March 31, 2020, 2019, no 10% |
Note 17 - Income Tax
Note 17 - Income Tax | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 17. Income Tax Income tax expense was approximately $0.1 $0.6 three March 31, 2020 2019, 1.2 three March 31, 2020 32.1 2019. The difference between the Company’s effective tax rates in 2020 2019 21% 2020 2019 2020 |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 18. Commitments and Contingent Liabilities On April 14, 2017, 2013, third third 2012 2013. The Company is involved in various other claims and legal proceedings arising in the ordinary course of business. Based on the consultation with the Company’s legal counsel, the ultimate disposition of such proceedings is not not not one |
Note 19 - Subsequent Event
Note 19 - Subsequent Event | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. Subsequent Event On April 18, 2020, $6.1 On April 23, 2020, May 4, 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, Harvard Bioscience or the Company) as of March 31, 2020 three March 31, 2020 2019, December 31, 2019 not not 10 December 31, 2019, March 16, 2020. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of March 31, 2020, three March 31, 2020 2019 three March 31, 2020 2019, three March 31, 2020 not |
Risk and Uncertainties Policy [Policy Text Block] | Risks and Uncertainties On March 11, 2020, 19 19 19 As a result of these market and economic conditions, in accordance with the guidelines set forth in ASC 350 360, March 31, 2020, no 19. 2020. |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign currency Derivatives translation qualifying as Defined benefit (in thousands) adjustments hedges pension plans Total Balance at December 31, 2019 $ (13,173 ) $ (603 ) $ 1,087 $ (12,689 ) Other comprehensive (loss) income before reclassifications (1,576 ) (216 ) (1,792 ) Amounts reclassified from AOCI into Income - 72 72 Net other comprehensive (loss) income (1,576 ) (144 ) - (1,720 ) Balance at March 31, 2020 $ (14,749 ) $ (747 ) $ 1,087 $ (14,409 ) |
Note 4 - Goodwill and Intangi_2
Note 4 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | March 31, 2020 (in thousands) Balance at December 31, 2019 $ 57,381 Effect of change in currency translation (589 ) Balance at March 31, 2020 $ 56,792 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | March 31, 2020 December 31, 2019 (in thousands) Intangible assets: Weighted Gross Accumulated Net Gross Accumulated Net Distribution agreements/customer relationships 8.4 $ 17,685 $ (6,550 ) $ 11,135 $ 17,891 $ (6,340 ) $ 11,551 Existing technology 5.5 40,923 (20,327 ) 20,596 41,222 (19,698 ) 21,524 Trade names 5.3 8,511 (3,667 ) 4,844 7,692 (3,497 ) 4,195 Patents - 206 (206 ) - 218 (218 ) - Indefinite-lived tradename NA 232 - 232 1,135 0 1,135 Total intangible assets $ 67,557 $ (30,750 ) $ 36,807 $ 68,158 $ (29,753 ) $ 38,405 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, December 31, (in thousands) Finished goods $ 5,280 $ 5,561 Work in process 3,160 3,153 Raw materials 14,703 13,347 Total $ 23,143 $ 22,061 |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, (in thousands) Machinery and equipment $ 7,437 $ 7,198 Computer equipment and software 8,763 8,954 Leasehold improvements 2,157 2,151 Furniture and fixtures 1,309 1,321 Automobiles 90 92 19,756 19,716 Less: accumulated depreciation (15,268 ) (14,940 ) Property, plant and equipment, net $ 4,488 $ 4,776 |
Note 7 - Restructuring and Ot_2
Note 7 - Restructuring and Other Exit Costs (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | (in thousands) Severance Other Total Balance at December 31, 2019 $ 364 $ 4 $ 368 Restructuring charges 834 40 874 Adjustments (45 ) - (45 ) Cash payments (569 ) (36 ) (605 ) Balance at March 31, 2020 $ 584 $ 8 $ 592 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (in thousands) (in thousands) Operating lease cost $ 535 $ 523 Short term lease cost 42 76 Sublease income (107 ) (102 ) Total lease cost $ 470 $ 497 |
Supplemental Cash Flow Information Related to Operating Leases [Table Text Block] | Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (in thousands) (in thousands) Cash paid for amounts included in the measurement $ 687 $ 702 |
Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block] | March 31, 2020 December 31, 2019 (in thousands) (in thousands) Operating lease right-of use assets $ 8,127 $ 8,463 Current portion, operating lease liabilities $ 2,297 $ 2,424 Operating lease liabilities, long term 7,867 8,224 Total operating lease liabilities $ 10,164 $ 10,648 Weighted average remaining lease term (in years) 8.0 8.1 Weighted average discount rate 9.2 % 9.2 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases (in thousands) 2021 $ 2,297 2022 1,905 2023 1,842 2024 1,827 2025 1,367 Thereafter 5,574 Total lease payments 14,812 Less interest (4,648 ) Total operating lease liabilities $ 10,164 |
Note 11 - Capital Stock and S_2
Note 11 - Capital Stock and Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule Of Stock Options And Restricted Stock Units Activity Roll forward [Table Text Block] | Stock Options Restricted Stock Units Market Condition RSU's Weighted Stock Average Restricted Market Options Exercise Stock Units Grant Date Condition RSU's Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2019 2,266,122 $ 3.93 1,590,450 $ 2.27 529,491 $ 1.67 Granted 42,373 2.58 142,766 3.00 - - Vested (RSUs) - - (267,588 ) 2.75 - - Cancelled / forfeited (49,074 ) 3.81 (31,795 ) 3.02 - - Balance at March 31, 2020 2,259,421 $ 3.90 1,433,833 $ 2.24 529,491 $ 1.67 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2020 2019 (in thousands) Cost of product revenues $ 10 $ 13 Sales and marketing 51 (7 ) General and administrative 696 551 Research and development 36 34 Total stock-based compensation $ 793 $ 591 |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months Ended March 31, 2020 2019 Basic 38,328,791 37,644,684 Diluted 38,328,791 37,644,684 |
Black Scholes Option Pricing Model [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2020 Volatility 54.83 % Risk-free interest rate 1.16 % Expected holding period (in years) 4.6 |
Note 12 - Long Term Debt (Table
Note 12 - Long Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, December 31, 2020 2019 (in thousands) Long-term debt: Term loan $ 50,168 54,997 Revolving line - - Total unamortized deferred financing costs (1,081 ) (1,180 ) Total debt 49,087 53,817 Less: current installments (3,200 ) (3,200 ) Less: excess cash flow sweep - (4,093 ) Current unamortized deferred financing costs 393 393 Long-term debt $ 46,280 $ 46,917 |
Note 13 - Derivatives (Tables)
Note 13 - Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | March 31, 2020 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long term liabilities $ 27,289 $ (747 ) December 31, 2019 Notional Amount Fair Value (a) Derivatives instruments Balance sheet classification (in thousands) Interest rate swaps Other long term liabilities $ 28,821 $ (603 ) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Derivatives in Hedging Relationships Amount of gain (loss) recognized in OCI on derivative Three Months Ended March 31, 2020 2019 (in thousands) Interest rate swaps $ (216 ) $ (196 ) Details about AOCI Components Amount reclassified from AOCI into income Three Months Ended March 31, Location of amount reclassified from AOCI 2020 2019 into income (effective portion) (in thousands) Interest rate swaps $ 72 $ 17 Interest expense |
Note 14 - Fair Value Measurem_2
Note 14 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value as of March 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities): Interest rate swap agreements $ - $ (747 ) $ - $ (747 ) Fair Value as of December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Assets (Liabilities): Interest rate swap agreements $ - $ (603 ) $ - $ (603 ) |
Note 15 - Other Current Liabi_2
Note 15 - Other Current Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, December 31, 2020 2019 (in thousands) Compensation and payroll $ 2,896 $ 2,554 Professional fees 567 395 Warranty costs 201 252 Local taxes, including VAT 91 345 Customer related costs 1,179 963 Interest 490 425 Other 2,025 1,157 Total $ 7,449 $ 6,091 |
Note 16 - Revenues (Tables)
Note 16 - Revenues (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2020 (in thousands) United United Germany Rest of the Total Instruments, equipment, software and accessories $ 15,956 $ 2,507 $ 2,573 $ 1,901 $ 22,937 Service, maintenance and warranty contracts 575 204 39 16 834 Total revenues $ 16,531 $ 2,711 $ 2,612 $ 1,917 $ 23,771 Three Months Ended March 31, 2019 (in thousands) United United Germany Rest of the Total Instruments, equipment, software and accessories $ 18,671 $ 3,129 $ 2,913 $ 2,044 $ 26,757 Service, maintenance and warranty contracts 1,143 190 97 15 1,445 Total revenues $ 19,814 $ 3,319 $ 3,010 $ 2,059 $ 28,202 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Three Months Ended March 31, 2020 (in thousands) Service Customer Total Balance, beginning of period $ 1,587 $ 2,362 $ 3,949 Deferral of revenue 308 223 531 Recognition of deferred revenue (499 ) (322 ) (821 ) Effect of foreign currency translation 14 - 14 Balance, end of period $ 1,410 $ 2,263 $ 3,673 Three Months Ended March 31, 2019 (in thousands) Service Customer Total Balance, beginning of period $ 1,659 $ 2,161 $ 3,820 Deferral of revenue 845 111 956 Recognition of deferred revenue (848 ) (223 ) (1,071 ) Effect of foreign currency translation 10 - 10 Balance, end of period $ 1,666 $ 2,049 $ 3,715 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended March 31, 2020 2019 (in thousands) Balance, beginning of period $ 325 $ 332 Bad debt expense 4 348 Charge-offs and other recoveries (31 ) (337 ) Effect of foreign currency translation (1 ) (2 ) Balance, end of period $ 297 $ 341 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation, Risks and Uncertainties, and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
COVID-19 [Member] | |
Asset Impairment Charges, Total | $ 0 |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Loss - Changes in Each Component of Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance | $ 81,694 | $ 82,724 |
Other comprehensive (loss) | (1,720) | (175) |
Balance | 76,009 | 80,349 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | (13,173) | |
Other comprehensive (loss) income before reclassifications | (1,576) | |
Amounts reclassified from AOCI into Income | ||
Other comprehensive (loss) | (1,576) | |
Balance | (14,749) | |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||
Balance | (603) | |
Other comprehensive (loss) income before reclassifications | (216) | |
Amounts reclassified from AOCI into Income | 72 | |
Other comprehensive (loss) | (144) | |
Balance | (747) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | 1,087 | |
Other comprehensive (loss) income before reclassifications | ||
Amounts reclassified from AOCI into Income | ||
Other comprehensive (loss) | ||
Balance | 1,087 | |
AOCI Attributable to Parent [Member] | ||
Balance | (12,689) | (13,532) |
Other comprehensive (loss) income before reclassifications | (1,792) | |
Amounts reclassified from AOCI into Income | 72 | |
Other comprehensive (loss) | (1,720) | (175) |
Balance | $ (14,409) | $ (13,707) |
Note 4 - Goodwill and Intangi_3
Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Amortization of Intangible Assets, Total | $ 1,427 | $ 1,430 |
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year | 4,100 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 5,500 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 5,500 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 5,300 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Five | 5,300 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Six | 4,200 | |
Indefinite-Lived Trade Names Reclassified to Finite-Lived [Member] | ||
Reclassification of Intangible Assets | $ 900 | |
Finite-Lived Intangible Asset, Useful Life (Year) | 4 years |
Note 4 - Goodwill and Intangi_4
Note 4 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Balance at December 31, 2019 | $ 57,381 |
Effect of change in currency translation | (589) |
Balance at March 31, 2020 | $ 56,792 |
Note 4 - Goodwill and Intangi_5
Note 4 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | ||
Total amortizable intangible assets | $ (30,750) | $ (29,753) | |
Indefinite-lived tradename | 232 | 1,135 | |
Total Intangible Assets, Gross | 67,557 | 68,158 | |
Intangible assets, net | $ 36,807 | 38,405 | |
Distribution Agreements/Customer Relationships [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | [1] | 8 years 146 days | |
Finite-Lived Intangible Assets, Gross | $ 17,685 | 17,891 | |
Total amortizable intangible assets | (6,550) | (6,340) | |
Finite-Lived Intangible Assets, Net | $ 11,135 | 11,551 | |
Existing Technology [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | [1] | 5 years 182 days | |
Finite-Lived Intangible Assets, Gross | $ 40,923 | 41,222 | |
Total amortizable intangible assets | (20,327) | (19,698) | |
Finite-Lived Intangible Assets, Net | $ 20,596 | 21,524 | |
Trade Names [Member] | |||
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year) | [1] | 5 years 109 days | |
Finite-Lived Intangible Assets, Gross | $ 8,511 | 7,692 | |
Total amortizable intangible assets | (3,667) | (3,497) | |
Finite-Lived Intangible Assets, Net | 4,844 | 4,195 | |
Patents [Member] | |||
Finite-Lived Intangible Assets, Gross | 206 | 218 | |
Total amortizable intangible assets | (206) | (218) | |
Finite-Lived Intangible Assets, Net | |||
[1] | Weighted average life as of March 31, 2020. |
Note 5 - Inventories - Inventor
Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Finished goods | $ 5,280 | $ 5,561 |
Work in process | 3,160 | 3,153 |
Raw materials | 14,703 | 13,347 |
Total | $ 23,143 | $ 22,061 |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment, Gross | $ 19,756 | $ 19,716 |
Less: accumulated depreciation | (15,268) | (14,940) |
Property, plant and equipment, net | 4,488 | 4,776 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment, Gross | 7,437 | 7,198 |
Computer Equipment and Software [member] | ||
Property, Plant and Equipment, Gross | 8,763 | 8,954 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross | 2,157 | 2,151 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross | 1,309 | 1,321 |
Automobiles [Member] | ||
Property, Plant and Equipment, Gross | $ 90 | $ 92 |
Note 7 - Restructuring and Ot_3
Note 7 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Restructuring Reserve, Ending Balance | $ 592 | $ 368 |
Note 7 - Restructuring and Ot_4
Note 7 - Restructuring and Other Exit Costs - Activity for Accrued Restructuring Liability (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Balance at December 31, 2019 | $ 368 |
Restructuring charges | 874 |
Adjustments | (45) |
Cash payments | (605) |
Balance at March 31, 2020 | 592 |
Employee Severance [Member] | |
Balance at December 31, 2019 | 364 |
Restructuring charges | 834 |
Adjustments | (45) |
Cash payments | (569) |
Balance at March 31, 2020 | 584 |
Other Restructuring [Member] | |
Balance at December 31, 2019 | 4 |
Restructuring charges | 40 |
Adjustments | |
Cash payments | (36) |
Balance at March 31, 2020 | $ 8 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Multi Channel Systems MCS GmbH [Member] | ||
Operating Leases, Rent Expense, Net, Total | $ 0.1 | $ 0.1 |
Note 9 - Employee Benefit Pla_2
Note 9 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Defined Contribution Plan, Cost | $ 0.1 | $ 0.2 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0.2 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 0.7 | |
Other Noncurrent Assets [Member] | ||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 1.1 |
Note 10 - Leases - Lease Expens
Note 10 - Leases - Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating lease cost | $ 535 | $ 523 |
Short term lease cost | 42 | 76 |
Sublease income | (107) | (102) |
Total lease cost | $ 470 | $ 497 |
Note 10 - Leases - Supplemental
Note 10 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | $ 687 | $ 702 |
Note 10 - Leases - Supplement_2
Note 10 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Operating lease right-of use assets | $ 8,127 | $ 8,463 |
Current portion, operating lease liabilities | 2,297 | 2,424 |
Operating lease liabilities, long term | 7,867 | 8,224 |
Total operating lease liabilities | $ 10,164 | $ 10,648 |
Weighted average remaining lease term (in years) (Year) | 8 years | 8 years 36 days |
Weighted average discount rate | 9.20% | 9.20% |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
2021 | $ 2,297 | |
2022 | 1,905 | |
2023 | 1,842 | |
2024 | 1,827 | |
2025 | 1,367 | |
Thereafter | 5,574 | |
Total lease payments | 14,812 | |
Less interest | (4,648) | |
Total operating lease liabilities | $ 10,164 | $ 10,648 |
Note 11 - Capital Stock and S_3
Note 11 - Capital Stock and Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | May 16, 2019 | Apr. 02, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2000 | Dec. 31, 2019 | May 18, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | ||||||
Increase In Number Of Shares Authorized For Issuance Under Stock Option And Incentive Plan (in shares) | 350,000 | 3,400,000 | |||||
Employee Stock Purchase Plan Shares Authorized (in shares) | 1,400,000 | ||||||
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total (in shares) | 1,081,404 | ||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 0 | ||||||
Employee Stock Ownership Plan, Shares Available for Issuance (in shares) | 318,596 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 20,908,929 | 275,419 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3.3 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.18 | ||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term (Year) | 10 years | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 4,222,745 | 3,691,304 | |||||
Deferred stock awards of Market Condition RSU, Approved 2019 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 529,491 | ||||||
Maximum Percentage Of Target, Number of Restricted Stock Units | 150.00% | ||||||
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | ||||||
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years |
Note 11 - Capital Stock and S_4
Note 11 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details) | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Opening Balance, Stock Options Outstanding (in shares) | shares | 2,266,122 |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 3.93 |
Options, Granted in Period (in shares) | shares | 42,373 |
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 2.58 |
Options, Cancelled / Forfeited in Period (in shares) | shares | (49,074) |
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 3.81 |
Opening Balance, Stock Options Outstanding (in shares) | shares | 2,259,421 |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 3.90 |
Restricted Stock Units (RSUs) [Member] | |
Restricted Stock Units Outstanding , Balance (in shares) | shares | 1,590,450 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 2.27 |
Restricted Stock Units, Granted in Period (in shares) | shares | 142,766 |
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 3 |
Restricted Stock Units, Vested in Period (in shares) | shares | (267,588) |
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 2.75 |
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | shares | (31,795) |
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 3.02 |
Restricted Stock Units Outstanding , Balance (in shares) | shares | 1,433,833 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 2.24 |
Market Condition Restricted Stock Units [Member] | |
Restricted Stock Units Outstanding , Balance (in shares) | shares | 529,491 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 1.67 |
Restricted Stock Units, Granted in Period (in shares) | shares | |
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | |
Restricted Stock Units, Vested in Period (in shares) | shares | |
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | |
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | shares | |
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | |
Restricted Stock Units Outstanding , Balance (in shares) | shares | 529,491 |
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares | $ 1.67 |
Note 11 - Capital Stock and S_5
Note 11 - Capital Stock and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation | $ 793 | $ 591 |
Cost of Sales [Member] | Continuing Operations [Member] | ||
Share-based Compensation | 10 | 13 |
Selling and Marketing Expense [Member] | Continuing Operations [Member] | ||
Share-based Compensation | 51 | (7) |
General and Administrative Expense [Member] | Continuing Operations [Member] | ||
Share-based Compensation | 696 | 551 |
Research and Development Expense [Member] | Continuing Operations [Member] | ||
Share-based Compensation | $ 36 | $ 34 |
Note 11 - Capital Stock and S_6
Note 11 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member] | 3 Months Ended |
Mar. 31, 2020 | |
Volatility | 54.83% |
Risk-free interest rate | 1.16% |
Expected holding period (Year) | 4 years 219 days |
Note 11 - Capital Stock and S_7
Note 11 - Capital Stock and Stock-based Compensation - Weighted Average Number of Shares (Details) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Basic (in shares) | 38,328,791 | 37,644,684 |
Diluted (in shares) | 38,328,791 | 37,644,684 |
Note 12 - Long Term Debt (Detai
Note 12 - Long Term Debt (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2020 | Mar. 31, 2018USD ($) | Jan. 31, 2018USD ($) | |
Term Loan [Member] | |||||
Line of Credit Facility, Interest Rate at Period End | 8.40% | ||||
Senior Secured Credit Facility [Member] | |||||
Debt Instrument, Quarterly Payment, Current Year | $ 400 | ||||
Debt Instrument Quarterly Payment Next Year | 600 | ||||
Debt Instrument, Quarterly Payment, Thereafter | $ 800 | ||||
Percentage of Consolidated Excess Cash Flow | 50.00% | ||||
Excess Cash Flow Payment | $ 4,000 | ||||
Excess Cash Flow Payment, Tranche Two | $ 4,000 | ||||
Excess Cash Flow Payment, Tranche One | 1,000 | ||||
Limitation On Pledges of Capital Stock of Foreign Subsidiaries | 65.00% | ||||
Senior Secured Credit Facility [Member] | Maximum [Member] | |||||
Debt Instrument, Leverage Ratio | 3.5 | ||||
Senior Secured Credit Facility [Member] | Maximum [Member] | Forecast [Member] | |||||
Debt Instrument, Leverage Ratio | 3.25 | ||||
Senior Secured Credit Facility [Member] | Base Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 4.75% | ||||
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 6.25% | ||||
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1.25% | ||||
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||||
Senior Secured Credit Facility [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 4,600 | ||||
Term Loan [Member] | |||||
Long-term Debt, Gross | $ 50,168 | $ 54,997 | |||
Term Loan [Member] | Senior Secured Credit Facility [Member] | |||||
Long-term Debt, Gross | $ 64,000 |
Note 12 - Long Term Debt - Brea
Note 12 - Long Term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Total unamortized deferred financing costs | $ (1,081) | $ (1,180) |
Total debt | 49,087 | 53,817 |
Less: current installments | (3,200) | (3,200) |
Less: excess cash flow sweep | (4,093) | |
Current unamortized deferred financing costs | 393 | 393 |
Long-term debt | 46,280 | 46,917 |
Term Loan [Member] | ||
Long-term debt, gross | 50,168 | 54,997 |
Line of Credit [Member] | ||
Long-term debt, gross |
Note 13 - Derivatives (Details
Note 13 - Derivatives (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | Jan. 31, 2018 | |
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | $ 400 | ||
Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Derivative, Fixed Interest Rate | 2.72% | ||
Interest Rate Swap [Member] | PNC Bank [Member] | |||
Derivative Asset, Notional Amount | $ 36,000 | ||
Term Loan [Member] | |||
Long-term Debt, Gross | $ 50,168 | $ 54,997 | |
Senior Secured Credit Facility [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 25,000 | ||
Senior Secured Credit Facility [Member] | Term Loan [Member] | |||
Long-term Debt, Gross | $ 64,000 |
Note 13 - Derivatives - Derivat
Note 13 - Derivatives - Derivative Instruments (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Other Noncurrent Liabilities [Member] | |||
Derivatives, notional amount | $ 27,289 | ||
Derivatives, fair value | [1] | $ (747) | |
Other Assets [Member] | |||
Derivatives, notional amount | $ 28,821 | ||
Derivatives, fair value | [1] | $ (603) | |
[1] | See Note 14 for the fair value measurements related to these financial instruments. |
Note 13 - Derivatives - Effect
Note 13 - Derivatives - Effect of Derivatives on AOCI (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Amount of loss recognized in OCI on derivative | $ (216) | $ (196) |
Interest Expense [Member] | ||
Amount reclassified from AOCI into income | $ 72 | $ 17 |
Note 14 - Fair Value Measurem_3
Note 14 - Fair Value Measurement - Assets and Liabilities Measured on a Recurring Basis (Details) - Interest Rate Swap [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Derivative liabilities | $ (747) | $ (603) |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Derivative liabilities | (747) | (603) |
Fair Value, Inputs, Level 3 [Member] | ||
Derivative liabilities |
Note 15 - Other Current Liabi_3
Note 15 - Other Current Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Compensation and payroll | $ 2,896 | $ 2,554 |
Professional fees | 567 | 395 |
Warranty costs | 201 | 252 |
Local taxes, including VAT | 91 | 345 |
Customer related costs | 1,179 | 963 |
Interest | 490 | 425 |
Other | 2,025 | 1,157 |
Total | $ 7,449 | $ 6,091 |
Note 16 - Revenues (Details Tex
Note 16 - Revenues (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Contract with Customer, Liability, Total | $ 3,673 | $ 3,949 | $ 3,715 | $ 3,820 |
Note 16 - Revenues - Disaggrega
Note 16 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Total revenues | $ 23,771 | $ 28,202 |
Instruments, Equipment, Software, and Accessories [Member] | ||
Total revenues | 22,937 | 26,757 |
Service, Maintenance, and Warranty Contracts [Member] | ||
Total revenues | 834 | 1,445 |
UNITED STATES | ||
Total revenues | 16,531 | 19,814 |
UNITED STATES | Instruments, Equipment, Software, and Accessories [Member] | ||
Total revenues | 15,956 | 18,671 |
UNITED STATES | Service, Maintenance, and Warranty Contracts [Member] | ||
Total revenues | 575 | 1,143 |
UNITED KINGDOM | ||
Total revenues | 2,711 | 3,319 |
UNITED KINGDOM | Instruments, Equipment, Software, and Accessories [Member] | ||
Total revenues | 2,507 | 3,129 |
UNITED KINGDOM | Service, Maintenance, and Warranty Contracts [Member] | ||
Total revenues | 204 | 190 |
GERMANY | ||
Total revenues | 2,612 | 3,010 |
GERMANY | Instruments, Equipment, Software, and Accessories [Member] | ||
Total revenues | 2,573 | 2,913 |
GERMANY | Service, Maintenance, and Warranty Contracts [Member] | ||
Total revenues | 39 | 97 |
Rest of the World [Member] | ||
Total revenues | 1,917 | 2,059 |
Rest of the World [Member] | Instruments, Equipment, Software, and Accessories [Member] | ||
Total revenues | 1,901 | 2,044 |
Rest of the World [Member] | Service, Maintenance, and Warranty Contracts [Member] | ||
Total revenues | $ 16 | $ 15 |
Note 16 - Revenues - Changes in
Note 16 - Revenues - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance | $ 3,949 | $ 3,820 |
Deferral of revenue | 531 | 956 |
Recognition of deferred revenue | (821) | (1,071) |
Effect of foreign currency translation | 14 | 10 |
Balance | 3,673 | 3,715 |
Service [Member] | ||
Balance | 1,587 | 1,659 |
Deferral of revenue | 308 | 845 |
Recognition of deferred revenue | (499) | (848) |
Effect of foreign currency translation | 14 | 10 |
Balance | 1,410 | 1,666 |
Customer Advances [Member] | ||
Balance | 2,362 | 2,161 |
Deferral of revenue | 223 | 111 |
Recognition of deferred revenue | (322) | (223) |
Effect of foreign currency translation | ||
Balance | $ 2,263 | $ 2,049 |
Note 16 - Revenues - Allowance
Note 16 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance, beginning of period | $ 325 | $ 332 |
Provision for allowance for doubtful accounts | 4 | 348 |
Charge-offs and other recoveries | (31) | (337) |
Effect of foreign currency translation | (1) | (2) |
Balance, end of period | $ 297 | $ 341 |
Note 17 - Income Tax (Details T
Note 17 - Income Tax (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 55 | $ 576 |
Effective Income Tax Rate Reconciliation, Percent, Total | (1.20%) | (32.10%) |
Note 19 - Subsequent Event (Det
Note 19 - Subsequent Event (Details Textual) $ in Millions | Apr. 18, 2020USD ($) |
Subsequent Event [Member] | |
Proceeds From Paycheck Protection Program Under CARES Act | $ 6.1 |