Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 19, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001158114 | ||
Entity Registrant Name | APPLIED OPTOELECTRONICS, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-36083 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 76-0533927 | ||
Entity Address, Address Line One | 13139 Jess Pirtle Blvd | ||
Entity Address, City or Town | Sugar Land | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77478 | ||
City Area Code | 281 | ||
Local Phone Number | 295-1800 | ||
Title of 12(b) Security | Common Stock, Par value $0.001 | ||
Trading Symbol | AAOI | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 Public Float | $ 187,049,677 | ||
Entity Common Stock, Shares Outstanding | 26,699,547 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 43,425 | $ 59,977 |
Restricted cash | 6,689 | 7,051 |
Accounts receivable - trade, net of allowance of $62 and $30, respectively | 43,042 | 34,654 |
Notes receivable | 401 | 1 |
Inventories | 110,397 | 85,028 |
Prepaid income tax | 2 | 224 |
Prepaid expenses and other current assets | 5,213 | 5,869 |
Total current assets | 209,169 | 192,804 |
Property, plant and equipment, net | 252,984 | 248,444 |
Land use rights, net | 5,854 | 5,598 |
Operating right of use asset | 7,729 | 7,768 |
Financing right of use asset | 88 | 119 |
Intangible assets, net | 3,999 | 4,081 |
Deferred income tax assets | 0 | 7,287 |
Other assets, net | 982 | 724 |
TOTAL ASSETS | 480,805 | 466,825 |
Current liabilities | ||
Current portion of notes payable and long-term debt | 38,265 | 33,371 |
Accounts payable | 29,482 | 32,828 |
Bank acceptance payable | 15,860 | 6,310 |
Current lease liability - operating | 1,012 | 965 |
Current lease liability - financing | 18 | 17 |
Accrued liabilities | 18,511 | 17,864 |
Total current liabilities | 103,148 | 91,355 |
Notes payable and long-term debt, less current portion | 13,904 | 16,552 |
Convertible senior notes | 77,854 | 77,041 |
Non-current lease liability - operating | 7,926 | 7,983 |
Non-current lease liability - financing | 82 | 100 |
TOTAL LIABILITIES | 202,914 | 193,031 |
Stockholders' equity: | ||
Preferred Stock; 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively | 0 | 0 |
Common Stock; 45,000 shares authorized at $0.001 par value; 25,110 and 20,104 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively | 25 | 20 |
Additional paid-in capital | 354,685 | 303,401 |
Accumulated other comprehensive income | 11,690 | 430 |
Accumulated deficit | (88,509) | (30,057) |
TOTAL STOCKHOLDERS' EQUITY | 277,891 | 273,794 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 480,805 | $ 466,825 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts receivable, allowance | $ 62 | $ 30 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 45,000,000 | 45,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 25,110,000 | 20,140,000 |
Common stock, shares outstanding (in shares) | 25,110,000 | 20,140,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue, net | $ 234,623 | $ 190,872 | $ 267,465 |
Cost of goods sold | 184,082 | 144,671 | 179,692 |
Gross profit | 50,541 | 46,201 | 87,773 |
Operating expenses | |||
Research and development | 43,393 | 43,399 | 49,903 |
Sales and marketing | 14,087 | 10,060 | 9,141 |
General and administrative | 41,903 | 41,489 | 39,497 |
Total operating expenses | 99,383 | 94,948 | 98,541 |
Income (loss) from operations | (48,842) | (48,747) | (10,768) |
Other income (expense) | |||
Interest income | 255 | 925 | 282 |
Interest expense | (5,635) | (5,405) | (1,106) |
Other income, net | 2,998 | 1,840 | 1,814 |
Total other income (expense), net | (2,382) | (2,640) | 990 |
Loss before income taxes | (51,224) | (51,387) | (9,778) |
Income tax benefit (expense) | (7,228) | (14,662) | 7,632 |
Net loss | $ (58,452) | $ (66,049) | $ (2,146) |
Net loss per share | |||
Basic (in dollars per share) | $ (2.67) | $ (3.31) | $ (0.11) |
Diluted (in dollars per share) | $ (2.67) | $ (3.31) | $ (0.11) |
Weighted average shares used to compute net loss per share: | |||
Basic (in shares) | 21,866,630 | 19,982,363 | 19,646,646 |
Diluted (in shares) | 21,866,630 | 19,982,363 | 19,646,646 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net loss | $ (58,452) | $ (66,049) | $ (2,146) |
Gain/(Loss) on foreign currency translation adjustment | 11,260 | (172) | (9,141) |
Comprehensive loss | $ (47,192) | $ (66,221) | $ (11,287) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 0 | 19,451 | ||||||||||
Balance at Dec. 31, 2017 | $ 0 | $ 0 | $ (9,141) | $ 0 | $ (9,141) | $ 0 | $ 19 | $ 285,376 | $ 9,743 | $ 38,138 | $ 333,276 | |
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 121 | ||||||||||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | (2,073) | 0 | 0 | (2,073) | ||||||
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 238 | ||||||||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 1 | (1,943) | 0 | 0 | (1,942) | ||||||
Share-based compensation | 0 | 0 | 11,120 | 0 | 0 | 11,120 | ||||||
Net loss | $ 0 | $ 0 | 0 | (2,146) | (2,146) | |||||||
Balance (in shares) at Dec. 31, 2018 | 0 | 19,810 | ||||||||||
Balance at Dec. 31, 2018 | $ 0 | $ 20 | 292,480 | 602 | 35,992 | 329,094 | ||||||
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 3 | ||||||||||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | 14 | 0 | 0 | 14 | ||||||
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 327 | ||||||||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (897) | 0 | 0 | (897) | ||||||
Share-based compensation | 0 | 0 | 11,804 | 0 | 0 | 11,804 | ||||||
Net loss | 0 | 0 | (66,049) | (66,049) | ||||||||
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | (172) | 0 | (172) | ||||||
Balance (in shares) at Dec. 31, 2019 | 0 | 20,140 | ||||||||||
Balance at Dec. 31, 2019 | $ 0 | $ 20 | 303,401 | 430 | (30,057) | $ 273,794 | ||||||
Stock options exercised, net of shares withheld for employee tax (in shares) | 0 | 3 | 5 | |||||||||
Stock options exercised, net of shares withheld for employee tax | $ 0 | $ 0 | 30 | 0 | 0 | $ 30 | ||||||
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 497 | ||||||||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 1 | (1,098) | 0 | 0 | (1,097) | ||||||
Share-based compensation | 0 | 0 | 13,046 | 0 | 0 | 13,046 | ||||||
Net loss | 0 | 0 | 0 | 0 | (58,452) | (58,452) | ||||||
Foreign currency translation adjustment | $ 0 | $ 0 | 0 | 11,260 | 0 | 11,260 | ||||||
Public offering of common stock, net (in shares) | 0 | 4,470 | ||||||||||
Public offering of common stock, net | $ 0 | $ 4 | 39,306 | 0 | 0 | 39,310 | ||||||
Balance (in shares) at Dec. 31, 2020 | 0 | 25,110 | ||||||||||
Balance at Dec. 31, 2020 | $ 0 | $ 25 | $ 354,685 | $ 11,690 | $ (88,509) | $ 277,891 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating activities: | |||
Net loss | $ (58,452) | $ (66,049) | $ (2,146) |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||
Allowance of bad debt | 32 | 0 | 0 |
Lower of cost or market reserve adjustment to inventory | 3,930 | 6,774 | 7,166 |
Depreciation and amortization | 24,733 | 24,014 | 29,698 |
Amortization of debt issuance costs | 900 | 892 | 42 |
Deferred income taxes, net | 7,348 | 14,570 | (8,964) |
Loss on disposal of assets | 15 | 13 | 7 |
Share-based compensation | 13,046 | 11,804 | 11,120 |
Unrealized foreign exchange gain (loss) | (1,152) | (247) | (548) |
Changes in operating assets and liabilities: | |||
Accounts receivable, trade | (8,421) | (4,351) | 29,316 |
Notes receivable | (389) | (4) | 0 |
Prepaid income tax | 188 | 961 | 230 |
Inventories | (23,674) | 1,560 | (28,403) |
Other current assets | 1,220 | 5,514 | (2,939) |
Operating right of use asset | 407 | 847 | 0 |
Accounts payable | (3,347) | 3,150 | (13,714) |
Accrued income taxes | 1 | 0 | (7,390) |
Accrued liabilities | 44 | (308) | 554 |
Lease liability | (438) | (896) | 0 |
Net cash provided by (used in) by operating activities | (44,009) | (1,754) | 14,029 |
Investing activities: | |||
Maturities of short-term investments | 0 | 0 | 36 |
Purchase of property, plant and equipment | (15,795) | (28,789) | (71,854) |
Purchase of land use rights | 0 | 0 | (5,591) |
Proceeds from disposal of equipment | 216 | 1 | 697 |
Deposits and prepaid for equipment | (3,279) | (2,688) | 674 |
Purchase of intangible assets | (489) | (640) | (476) |
Net cash used in investing activities | (19,347) | (32,116) | (76,514) |
Financing activities: | |||
Proceeds from issuance of notes payable and long-term debt, net of debt issuance costs | 6,229 | 13,661 | 47,849 |
Principal payments of long-term debt and notes payable | (5,233) | (43,363) | (3,133) |
Proceeds from line of credit borrowings | 95,730 | 83,434 | 155,078 |
Repayments of line of credit borrowings | (96,006) | (88,299) | (165,569) |
Proceeds from bank acceptance payable | 39,958 | 13,638 | 4,595 |
Repayments of bank acceptance payable | (31,338) | (11,952) | 0 |
Proceeds from issuance of convertible senior notes, net of debt issuance costs | (18) | 76,362 | 0 |
Principal payments of financing lease | (17) | (2) | |
Exercise of stock options | 13 | 14 | 120 |
Payments of tax withholding on behalf of employees related to share-based compensation | (1,080) | (897) | (4,137) |
Proceeds from common stock offering, net | 39,203 | 0 | 0 |
Net cash provided by financing activities | 47,441 | 42,596 | 34,803 |
Effect of exchange rate changes on cash | (999) | 298 | 1,738 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (16,914) | 9,024 | (25,944) |
Cash, cash equivalents and restricted cash at beginning of period | 67,028 | 58,004 | 83,948 |
Cash, cash equivalents and restricted cash at end of period | 50,114 | 67,028 | 58,004 |
Supplemental disclosure of cash flow information: | |||
Interest | 4,971 | 3,172 | 848 |
Income taxes | (364) | (890) | 8,470 |
Non-cash investing and financing activities: | |||
Net change in accounts payable related to property and equipment additions | (2,326) | 3,869 | (1,151) |
Net change in deposits and prepaid for equipment related to property and equipment additions | $ (64) | $ 8,801 | $ 0 |
Note A - Organization and Opera
Note A - Organization and Operations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE A—ORGANIZATION AND OPERATIONS Applied Optoelectronics, Inc. (“AOI” or the “Company”) was incorporated in the State of Texas on February 28, 1997. March 2013, four The Company has manufacturing and research and development facilities located in the U.S., Taiwan and China. At its corporate headquarters and manufacturing facilities in Sugar Land, Texas, the Company primarily manufactures lasers and laser components and performs research and development activities for laser component and optical module products. The Company operates in Taipei, Taiwan and Ningbo, China through its wholly-owned subsidiary Prime World International Holdings, Ltd. (“Prime World”, incorporated in the British Virgin Islands). Prime World is the parent of Global Technology, Inc. (“Global”, incorporated in the People’s Republic of China). Through Global, the Company primarily manufactures certain of its data center transceiver products, including subassemblies and transceivers, as well as Cable TV Broadband (“CATV”) systems and equipment, and performs research and development activities for the CATV products. Prime World also operates a branch in Taiwan, which primarily manufactures transceivers. The Company also has a research and development center in Duluth, Georgia. |
Note B - Summary of Significant
Note B - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1. Basis of Presentation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries and are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation. 2. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates in the consolidated financial statements and accompanying notes. Significant estimates and assumptions that impact these financial statements relate to, among other things, allowance for doubtful accounts, inventory reserve, product warranty costs, share-based compensation expense, estimated useful lives of property and equipment, and taxes. 3. Foreign Currency Translation The functional currency for the Company’s foreign operations is the local currency. The assets and liabilities of these operations are translated at the rate of exchange in effect on the balance sheet date and sales and expenses are translated at monthly average rates. The resulting gains or losses from translation are included in a separate component of other comprehensive income. There is no 4. Fair Value The carrying value of cash, cash equivalents and short-term investments, accounts receivable, accounts payable, and note receivable approximate their historical fair values due to their short-term maturities. The carrying value of the debt approximates its fair value due to the short-term nature of the debt since it renews frequently at current interest rates. Management believes that the interest rates in effect at each year end represent the current market rates for similar borrowings. The fair value measurement standard defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard characterizes inputs used in determining fair value according to a hierarchy that prioritized inputs based on the degree to which they are observable. The three Level 1—Inputs Level 2—Inputs 1 not Level 3—Inputs not Assets and liabilities that are required to be fair valued on a recurring basis include money market funds, marketable securities, equity instruments and contingent consideration. Money market funds are valued with Level 1 5. Cash and Cash Equivalents The Company considers all highly liquid securities with an original maturity of ninety December 31, 2020 2019 The Company maintains cash and cash equivalents at U.S. financial institutions for which the combined account balances in individual institutions may December 31, 2020 not not not 6. Restricted Cash/Compensating Balances Restricted cash includes guarantee deposits for customs duties and compensating balances associated with credit facilities. 7. Accounts Receivable/Allowance for Doubtful Accounts The Company carries its accounts receivable at the net amount that it estimates to be collectible. An allowance for uncollectable accounts is maintained through a charge against operations. The allowance is determined by management review of outstanding amounts per customer, historical payments and the aging of accounts. 8. Concentration of Credit Risk and Significant Customers Financial instruments which potentially subject the Company to concentrations of credit risk include cash, cash equivalents and accounts receivable. The Company places all cash and cash equivalents with high-credit quality financial institutions. The Company performs ongoing credit valuations of its customers’ financial condition whenever deemed necessary and generally does not 2020, 2019 2018 five 2020 2019 five December 31, 2020 2019 December 31, 2020 December 31, 2019 No ten 2020, 2019 2018 ten December 31, 2020 2019. 9. Inventories Inventories are stated at the lower of cost (average-cost method) or market. Work in process and finished goods includes materials, labor and allocated overhead. The Company assesses the valuation of its inventory on a periodic basis and provides write-offs for the value of estimated excess and obsolete inventory based on estimates of future demand. 10. Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. The Company calculates depreciation using the straight-line method over the following estimated useful lives: Useful lives (in years) Buildings 20 - 42 Land improvements 10 Machinery and equipment 2 - 20 Furniture and fixtures 3 - 7 Computer equipment and software 3 - 10 Leasehold improvements The shorter of the life of the applicable lease or the useful life of the improvement Transportation equipment 5 Major improvements are capitalized and expenditures for maintenance and repairs are expensed as incurred. Construction in progress represents property, plant and equipment under construction or being installed. Costs include original cost, installation, construction and other direct costs which include interest on borrowings used to finance the asset. Construction in progress is transferred to the appropriate fixed asset account and depreciation commences when the asset has been substantially completed and placed in service. Land use rights allow the Company rights for 50 October 7, 2054 December 28, 2067. 11. Intangible Assets Intangible assets consist of intellectual property that is stated at cost less accumulated amortization. As of December 31, 2020 may not no 12. Impairment of Long-Lived Assets The Company accounts for impairment of long-lived assets in accordance with Accounting Standards Codification (“ASC”) 360, Property, Plant and Equipment 360” 360, may not not not 2020 2019 2018. 13. Comprehensive Income (Loss) ASC 220, Comprehensive Income 220” 220 14. Share-based Compensation The Company accounts for share-based compensation in accordance with the provisions of ASC 718, Compensation—Stock Compensation 15. Revenue Recognition The Company derives revenue from the manufacture and sale of fiber optic networking products. Revenue recognition follows the criteria of ASC 606, Revenue from Contracts with Customers 16. Product Warranty The Company generally offers a one three five may may December 31, 2020 2019 Year ended December 31, 2020 2019 2018 Beginning Balance, January 1 $ 821 $ 995 $ 1,118 Warranty costs incurred (457 ) (1,261 ) (4,888 ) Provision for warranty 339 1,087 4,765 Ending Balance, December 31 $ 703 $ 821 $ 995 17. Advertising Costs Advertising costs are charged to operations as incurred and amounted to approximately $0.4 million, $0.5 million, and $0.5 million for the years ended December 31, 2020, 2019 2018 18. Research and Development Research and development costs are charged to operations as incurred. The Company receives reimbursement for certain development costs, which are capitalized when incurred, up to the reimbursable amount. 19. Shipping and Handling Costs Shipping and handling costs are included in operating expenses as fulfillment costs unless we bill our customers for shipping and handling charges, which are included in net sales for the applicable period, and the corresponding shipping and handling expense is reported in cost of sales. 20. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC 740, Income Taxes not The Company records uncertain tax positions in accordance with ASC 740 two 1 not 2 not 50 The Company recognizes interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying consolidated statement of operations. Accrued interest and penalties are included on the related tax liability line in the consolidated balance sheet. 21. Global Intangible Low-taxed Income Provisions ("GILTI") One of the base broadening provisions of the U.S. Tax Cuts and Jobs Act of 2017 2017 is the global intangible low-taxed income provisions ("GILTI"). In accordance with guidance issued by the FASB staff, the Company has adopted an accounting policy to treat any GILTI inclusions as a period cost if and when incurred. Thus, for the fiscal years ended December 31, 2020, December 31, 2019, December 31, 2018, 22. Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 In June 2016 , 2016 13 not January 1, 2020. not may In March 2020 , 2020 03, seven 2020 03 not In December 2019 , 2019 12, 740 . 2019 12 December 31, 2020, not In August 2020, Item 101 Item 103 Item 105 thirty not Recent Accounting Pronouncements Yet to be Adopted In March 2020 , 2020 04, 848 March 12, 2020, may December 31, 2022. In August 2020 , 2020 06, 470 20 815 40 two three 470 20 December 15, 2021. In November 2020, Item 301 Item 302 303 January 11, 2021, thirty February 10, 2021, first 210 |
Note C - Revenue Recognition
Note C - Revenue Recognition | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE C—REVENUE RECOGNITION Revenue from Contracts with Customers On January 1, 2018, 606 not no January 1, 2018 606, not 605" The adoption of Topic 606 606, may five 1. A contract with a customer exists when (i) the Company enters into an agreement with a customer that defines each party's rights regarding the products or services to be transferred and identifies the payment terms related to these products or services, (ii) both parties to the contract are committed to perform their respective obligations, (iii) the contract has commercial substance, and (iv) the Company determines that collection of substantially all consideration for products or services that are transferred is probable based on the customer's intent and ability to pay the promised consideration. The Company applies judgment in determining the customer's ability and intention to pay, which is based on a variety of factors including the customer's payment history or, in the case of a new customer, published credit and financial information pertaining to the customer. 2. Performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third not 3. The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring products or services to the customer. To the extent the transaction price is variable, revenue is recognized at an amount equal to the consideration to which the Company expects to be entitled. This estimate includes customer sales incentives which are accounted for as a reduction to revenue and estimated using either the expected value method or the most likely amount method, depending on the nature of the program. The Company will adjust its consideration for any rebates if it is more likely than not 4. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis unless a portion of the variable consideration related to the contract is allocated entirely to a performance obligation. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. 5. The Company generally satisfies performance obligations at a point in time. Revenue is recognized based on the transaction price at the time the related performance obligation is satisfied by transferring a promised product or service to a customer. Disaggregation of Revenue Revenue is classified based on the location of where the product is manufactured. For additional information on the disaggregated revenues by geographical region, see Note R, "Segments and Geographic Information.” Revenue is also classified by major product category and is presented below (in thousands): Years ended December 31, % of % of % of 2020 Revenue 2019 Revenue 2018 Revenue Data Center $ 173,437 73.9 % $ 143,562 75.2 % $ 200,236 74.9 % CATV 37,944 16.2 % 37,328 19.6 % 51,699 19.3 % Telecom 21,092 9.0 % 8,429 4.4 % 13,159 4.9 % FTTH 110 0.0 % 190 0.1 % 818 0.3 % Other 2,040 0.9 % 1,363 0.7 % 1,553 0.6 % Total Revenue $ 234,623 100.0 % $ 190,872 100.0 % $ 267,465 100.0 % |
Note D - Operating Leases
Note D - Operating Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | NOTE D—O perating Leases The Company leases space under non-cancellable operating leases for manufacturing facilities, research and development offices and certain storage facilities and apartments. These leases do not one one As most of the Company’s leases do not The Components of lease expense were as follows for the periods indicated (in thousands): Year ended December 31, Year ended December 31, 2020 2019 Operating lease expense $ 1,206 $ 1,229 Financing lease expense 32 5 Short Term lease expense 130 111 Total lease expense $ 1,368 $ 1,345 Maturities of lease liabilities are as follows for the future one December 31, ( Operating Financing 2021 $ 1,334 $ 22 2022 1,328 22 2023 1,243 65 2024 1,247 — 2025 1,273 — 2026 and thereafter 4,190 — Total lease payments $ 10,615 $ 109 Less imputed interest (1,677 ) (9 ) Present value $ 8,938 $ 100 The weighted average remaining lease term and discount rate for operating leases were as follows for the periods indicated: December 31, December 31, 2020 2019 Weighted Average Remaining Lease Term (Years) - operating leases 8.09 9.23 Weighted Average Remaining Lease Term (Years) - financing leases 2.83 3.83 Weighted Average Discount Rate - operating leases 3.23% 3.13% Weighted Average Discount Rate - financing leases 5.00% 5.00% Supplemental cash flow information related to operating leases was as follows for the periods indicated (in thousands): Year ended December 31, Year ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 1,351 1,325 Operating cash flows from financing lease 5 8 Financing cash flows from financing lease 17 2 Right-of-use assets obtained in exchange for new operating lease liabilities 712 64 Right-of-use assets obtained in exchange for new finance lease liabilities — 124 |
Note E - Cash, Cash Equivalents
Note E - Cash, Cash Equivalents and Restricted Cash | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE E—CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the statement of financial position that sum to the total of the same such amounts in the statement of cash flows (in thousands): December 31, December 31, 2020 2019 Cash and cash equivalents $ 43,425 $ 59,977 Restricted cash 6,689 7,051 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 50,114 $ 67,028 Restricted cash includes guarantee deposits for customs duties, China government subsidy fund, and compensating balances associated with certain credit facilities. As of December 31, 2020 2019 $4.2 December 31, 2020 2019 |
Note F - Earnings Per Share
Note F - Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE F—EARNINGS PER SHARE Basic net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options and restricted stock units outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and dilutive earnings per share are the same. The following table presents the computation of the basic and diluted net loss per share for the periods indicated (in thousands): Year ended December 31, 2020 2019 2018 Numerator: Net loss $ (58,452 ) $ (66,049 ) $ (2,146 ) Denominator: Weighted average shares used to compute net loss per share Basic 21,867 19,982 19,647 Effect of dilutive options and restricted stock units — — — Diluted 21,867 19,982 19,647 Net loss per share Basic $ (2.67 ) $ (3.31 ) $ (0.11 ) Diluted $ (2.67 ) $ (3.31 ) $ (0.11 ) The following potentially dilutive securities were excluded from diluted net loss per share as their effect would have been antidilutive (in thousands): As of December 31, 2020 2019 Employee stock options 19 44 Restricted stock units 5 1 Shares for convertible senior notes 4,587 4,587 Total antidilutive shares 4,611 4,632 |
Note G - Inventories
Note G - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE G—INVENTORIES At December 31, 2020 2019 As of December 31, 2020 2019 Raw materials $ 25,555 $ 15,570 Work in process and sub-assemblies 52,544 50,787 Finished goods 32,298 18,671 Total inventory $ 110,397 $ 85,028 For the years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 |
Note H - Property, Plant and Eq
Note H - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE H—PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following for the periods indicated (in thousands): December 31, 2020 December 31, 2019 Land improvements $ 806 $ 806 Building and improvements 88,280 83,846 Machinery and equipment 253,738 237,464 Furniture and fixtures 5,540 5,105 Computer equipment and software 11,912 10,506 Transportation equipment 699 658 360,975 338,385 Less accumulated depreciation and amortization (142,434 ) (116,979 ) 218,541 221,406 Construction in progress 33,342 25,937 Land 1,101 1,101 Total property, plant and equipment, net $ 252,984 $ 248,444 For the years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 As of December 31, 2020 360 10 35 21, Property, Plant, and Equipment no |
Note I - Intangible Assets
Note I - Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE I—INTANGIBLE ASSETS Intangible assets consisted of the following for the periods indicated (in thousands): December 31, 2020 Gross Accumulated Intangible Amount amortization assets, net Patents $ 8,158 $ (4,165 ) $ 3,993 Trademarks 21 (15 ) $ 6 Total intangible assets $ 8,179 $ (4,180 ) $ 3,999 December 31, 2019 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,638 $ (3,560 ) $ 4,078 Trademarks 17 (14 ) 3 Total intangible assets $ 7,655 $ (3,574 ) $ 4,081 For the years ended December 31, 2020, 2019 2018 At December 31, 2020 2021 $ 579 2022 579 2023 579 2024 579 2025 579 thereafter 1,104 $ 3,999 |
Note J - Fair Value of Financia
Note J - Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE J—FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2020 Quoted prices Significant in active other markets for observable Significant identical remaining unobservable assets (Level 1) inputs (Level 2) inputs (Level 3) Total Assets: Cash and cash equivalents $ 43,425 $ — $ — $ 43,425 Restricted cash 6,689 — — 6,689 Total assets $ 50,114 $ — $ — $ 50,114 Liabilities: Bank acceptance payable — $ 15,860 — $ 15,860 Convertible senior notes — 70,225 — 70,225 Total liabilities $ — $ 86,085 $ — $ 86,085 The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2019 Quoted prices Significant in active other markets for observable Significant identical remaining unobservable assets (Level 1) inputs (Level 2) inputs (Level 3) Total Assets: Cash and cash equivalents $ 59,977 $ — $ — $ 59,977 Restricted cash 7,051 — — 7,051 Total assets $ 67,028 $ — $ — $ 67,028 Liabilities: Bank acceptance payable — $ 6,310 — $ 6,310 Convertible senior notes — 77,191 — 77,191 Total liabilities $ — $ 83,501 $ — $ 83,501 |
Note K - Notes Payable and Long
Note K - Notes Payable and Long-term Debt | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE K—NOTES PAYABLE AND LONG-TERM DEBT Notes payable and long-term debt consisted of the following for the periods indicated (in thousands): December 31, 2020 December 31, 2019 Revolving line of credit with a U.S. bank up to $ 20,000 1.5 April 2, 2021 $ 18,700 $ 20,000 Paycheck Protection Program Term Note with interest at fixed rate 1.0 April 16, 2022 6,229 — Revolving line of credit with a Taiwan bank up to $ 3,336 2.2 October 16, 2020 — 3,336 Revolving line of credit with a Taiwan bank up to $ 3,436 2.2 January 31, 2021 1,756 — Notes payable to a finance company due in monthly installments with 3.5 January 21, 2022 1,941 4,262 Notes payable to a finance company due in monthly installments with 3.1 January 21, 2022 2,149 4,633 Revolving line of credit with a Taiwan bank up to $ 2,668 1.7 April 11, 2020 — 2,668 Revolving line of credit with a China bank up to $ 8,917 4.5 October 15, 2021 2,299 — Revolving line of credit with a China bank up to $ 25,449 3.01 4.57 May 24, 2024 11,603 7,919 Credit facility with a China bank up to $ 7,167 5.7 June 20, 2022 7,510 7,167 Sub-total 52,187 49,985 Less debt issuance costs, net (18 ) (62 ) Grand total 52,169 49,923 Less current portion (38,265 ) (33,371 ) Non-current portion $ 13,904 $ 16,552 Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 15,860 $ 6,310 The current portion of long-term debt is the amount payable within one December 31, 2020 Maturities of notes payable and long-term debt are as follows for the future years ending December 31 2021 $ 38,265 2022 13,904 Total outstanding $ 52,169 On September 28, 2017, three not one On March 30, 2018, $60 $26 $21.5 three $50 September 28, 2017 ( 1 three $50 2 five 3 seventy one one one not On February 1, 2019, September 28, 2017, first March 30, 2018, three five seventy March 30, 2019 September 30, 2019, On March 5, 2019, $60,000,000 $25,000,000; not not not seven seven On March 5, 2019, On September 30, 2019, $25,000,000 $20,000,000; September 28, 2020 April 2, 2021; ( 1.0, twelve seventy-five As of December 31, 2020 December 31, 2020 On April 17, 2020, 1.00%, first six November 2020, 18 April 2022. may September 14, 2020 not On November 29, 2018, NT$267,340,468, three NT$67,340,468, NT$5,571,229, NT$6,139,188, NT$210,601,605, December 31, 2020 On January 21, 2019, second NT$267,333,186, three NT$67,333,186, NT$5,570,167, NT$6,082,131, NT$209,555,736 December 31, 2020 On September 15, 2020, November 29, 2018 January 21, 2019 ( NT$22,311,381, not NT$159,027,448, September 21, 2020 January 21, 2022, not On April 11, 2019, one NT$80 may April 11, 2019 April 11, 2020. one 0.655%; TAIFX3 one TAIFX3 April 9, 2020, On July 23, 2019, one NT$100 $3.3 “NT$100M “US$1M NT$100M US$1M NT$100M US$1M July 20, 2020, NT$100M three 3 October 16, 2020. NT$100M 90 120 US$1M NT$100M US$1M October 7, 2020. On October 7, 2020, NT$ 100 $3.44 “NT$100M “US$1M NT$100M US$1M NT$100M US$1M may October 7, 2020 January 31, 2021 NT$100M US$1M December 31, 2020 On April 19, 2019, twelve April 14, 2020, twelve 12 may April 19, 2019 October 14, 2020 ( may may October 19, 2020. On April 30, 2019, one ¥9.9M ¥9.9M may ¥9.9M April 30, 2019 May 9, 2019. ¥9.9M April 30, 2020 twelve 12 ¥9.9M ¥9.9M ¥9.9M May 24, 2019. On May 7, 2019, one ¥30M ¥30M ¥30M May 7, 2020 twelve 12 12 ¥30M ¥30M ¥30M May 24, 2019. On May 8, 2019, six “$2M $2M $2M November 7, 2019 six 6 $2M 6 $2M $2M $2M May 24, 2019. On May 24, 2019, five 180 30 May 7, 2019; 9.9 April 30, 2019. may 5 may December 31, 2020 On June 21, 2019, “¥100M ¥100M may ¥100M June 21, 2019 January 4, 2021 ( “¥100M ¥100M may ¥100M ¥100M may ¥100M December 31, 2020 ¥100M On June 21, 2019, three “¥50M ¥50M may ¥50M June 21, 2019 June 20, 2022 ( “¥50M ¥50M may ¥50M may ¥50M December 31, 2020 ¥50M On October 19, 2020, twelve 12 may October 16, 2020 October 15, 2021 ( may may December 31, 2020 As of December 31, 2020 2019 One-month LIBOR rates were 0.14% and 1.76% at December 31, 2020 2019 As of December 31, 2020 2019 |
Note L - Convertible Senior Not
Note L - Convertible Senior Notes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | NOTE L—C onvertible Senior Notes On March 5, 2019, 2024 March 5, 2019 5.00% March 15 September 15 September 15, 2019. March 15, 2024, The sale of the Notes generated net proceeds of $76.4 million, after deducting the Initial Purchasers’ discounts and offering expenses payable by the Company. The Company used approximately $37.8 million of the net proceeds from the offering to fully repay the CapEx Loan and Term Loan with BB&T and the remainder will be used for general corporate purposes. The following table presents the carrying value of the Notes for the periods indicated (in thousands): December 31, 2020 Principal $ 80,500 Unamortized debt issuance costs (2,646 ) Net carrying amount $ 77,854 The Notes are convertible at the option of holders of the Notes at any time until the close of business on the scheduled trading day immediately preceding the maturity date. Upon conversion, holders of the Notes will receive shares of the Company’s common stock, together, if applicable, with cash in lieu of any fractional share, at the then-applicable conversion rate. The initial conversion rate is 56.9801 shares of the Company’s common stock per $1,000 principal amount of Notes (representing an initial conversion price of approximately $17.55 per share of common stock, which represents an initial conversion premium of approximately 30% above the closing price of $13.50 per share of the Company’s common stock on February 28, 2019 March 15, 2022, Initially there are no Holders may The Company may not March 15, 2022. March 15, 2022, may not The Indenture contains covenants that limit the Company’s ability and the ability of our subsidiaries to, among other things: (i) incur or guarantee additional indebtedness or issue disqualified stock; and (ii) create or incur liens. Pursuant to the guidance in ASC 815 40, Contracts in Entity’s Own Equity 815 40, 1 2 815 40 25 7 815 40 25 10. not 470 20, Debt with Conversion and Other Options The Company incurred approximately $4.1 million in transaction costs in connection with the issuance of the Notes. These costs were recognized as a reduction of the carrying amount of the Notes utilizing the effective interest method and are being amortized over the term of the notes. The following table sets forth interest expense information related to the Notes (in thousands): Year ended December 31, 2020 2019 Contractual interest expense $ 4,025 $ 3,276 Amortization of debt issuance costs 831 681 Total interest cost $ 4,856 $ 3,957 Effective interest rate 5.1 % 5.1 % |
Note M - Accrued Liabilities
Note M - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE M—ACCRUED LIABILITIES Accrued liabilities consisted of the following for the periods indicated (in thousands): December 31, 2020 December 31, 2019 Accrued payroll $ 10,517 $ 11,009 Accrued employee benefits 3,057 2,288 Accrued state and local taxes 251 1,215 Accrued interest 1,256 1,208 Advance payments 303 312 Accrued product warranty 703 821 Accrued commission expenses 974 420 Accrued professional fees 377 222 Accrued shipping and tariff expenses 526 344 Accrued other 547 25 Total accrued liabilities $ 18,511 $ 17,864 |
Note N - Other Income and Expen
Note N - Other Income and Expense | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | NOTE N—OTHER INCOME AND EXPENSE Other income and expense consisted of the following for the periods indicated (in thousands): Year ended December 31, 2020 2019 2018 Foreign exchange transaction gain $ 1 $ 20 $ 663 Government subsidy income 2,708 1,614 934 Other non-operating gain 304 219 224 Loss on disposal of assets (15 ) (13 ) (7 ) Total other income, net $ 2,998 $ 1,840 $ 1,814 |
Note O - Income Taxes
Note O - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE O—INCOME TAXES The sources of the Company’s loss from operations before income taxes were as follows (in thousands): Years ended December 31, 2020 2019 2018 Domestic $ (20,288 ) $ (35,279 ) (11,444 ) Foreign (30,936 ) (16,108 ) 1,666 Total loss before income taxes $ (51,224 ) $ (51,387 ) (9,778 ) The provision for income tax expense (benefit) for the years ended December 31, Current: 2020 2019 2018 Federal $ 41 $ — $ — State 2 16 80 Foreign — 97 1,349 Total $ 43 $ 113 $ 1,429 Deferred: Federal $ (172 ) $ 16,375 $ (6,391 ) State — 1,716 61 Foreign 7,357 (3,542 ) (2,731 ) Total $ 7,185 $ 14,549 $ (9,061 ) Income tax (benefit) expense $ 7,228 $ 14,662 $ (7,632 ) Deferred income tax assets and liabilities result principally from net operating losses, different methods of recognizing depreciation, reserves for doubtful accounts and inventory, research and development credits and foreign tax credits. At December 31, 2020 2019 NOL carryforward $ 31,526 $ 21,516 Inventory reserves 2,241 2,385 AMT credit — 172 Unrealized gains and losses 59 96 Share-based compensation 618 528 Foreign tax credit 4,599 4,599 Research and development credits 9,008 8,264 Interest 1,784 888 ASC 842 Assets 1,671 1,641 Other 784 520 Deferred tax assets 52,290 40,609 Less valuation allowance (43,462 ) (25,736 ) Deferred tax assets, net 8,828 14,873 Depreciation and amortization (7,402 ) (6,180 ) ASC 842 Liabilities (1,426 ) (1,406 ) Deferred tax liabilities (8,828 ) (7,586 ) Deferred tax assets, net $ — $ 7,287 The Company has a U.S. net operating loss carry forward of approximately $87.0 million, $32.7 million of which, if unused, expires between 2026 2032 2028 2040. 2028. 382. December 31, 2020, ten 2028. five 2024. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three December 31, 2020 On the basis of this evaluation, as of December 31, 2020 December 31, 2019, not December 31, 2020 2019, no The following table shows the change in the deferred tax valuation as follows: 2020 2019 2018 Beginning Balance, January 1 $ 25,736 $ — $ — Change charged to expense/(income) 17,137 25,736 — Change charged to currency translation adjustment 589 — — Ending Balance, December 31 $ 43,462 $ 25,736 $ — A reconciliation of the U.S. federal income tax rate of 21%, 21% and 21% for the years ended December 31, 2020, 2019 2018 2020 2019 2018 Expected taxes at statutory rate $ (10,775 ) $ (10,791 ) $ (2,053 ) Non-deductible/non-taxable items 1,132 962 1,020 Foreign rate differences 1,153 590 (1,043 ) Foreign permanent differences (1,002 ) (671 ) (1,067 ) Changes in valuation allowance 17,137 25,736 — Share-based compensation 426 607 (1,325 ) Changes in tax rates — — (103 ) Transition tax adjustment, net of foreign tax credits — — (1,777 ) Research and development credits (744 ) (1,616 ) (2,022 ) Alternative Minimum Tax (172 ) — — Foreign other 12 27 514 Other, net 61 (182 ) 224 Tax (benefit) expense $ 7,228 $ 14,662 $ (7,632 ) The Company's provision for income taxes in 2020 2019 The Company’s provision for income taxes in 2019 2018 The Company’s wholly owned subsidiary, Prime World is a tax-exempt entity under the Income Tax Code of the British Virgin Islands. The Company’s wholly owned subsidiary, Global Technology, Inc., has enjoyed preferential tax concessions in China as a national high-tech enterprise. In March 2007, January 1, 2008, 2008 three November 2008 November 2011. 2011, 2014, 2017, three November 2020. December 2020, three December 2020 December 2023. 2020, 2019 2018 2020, 2019 2018 January 1, 2016, As of December 31, 2020, 2019 2018 2020 2019 2018 Unrecognized tax benefits — January 1 $ 181 $ 181 $ 181 Gross increases — tax positions in prior period — — — Gross decreases — tax positions in prior period — — — Unrecognized tax benefits — December 31 $ 181 $ 181 $ 181 The Company recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense. Related to the unrecognized tax benefits noted above, it has not 2020 2019 2018 no The Company is subject to taxation in the United States and various states and foreign jurisdictions. The Company’s open tax years subject to examination in the U.S. federal and state jurisdictions are 2017 2019. may 2010 The U.S. Tax Act significantly changed how the U.S. taxes corporations. The U.S. Tax Act requires complex computations to be performed that were not not may may On March 18, 2020, March 27, 2020, 19 no As of December 31, 2020, $5 one 2017 |
Note P - Share-based Compensati
Note P - Share-based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE P—SHARE-BASED COMPENSATION Equity Plans The Company’s board of directors and stockholders approved the following equity plans: ‑ the 1998 ‑ the 2000 ‑ the 2004 ‑ the 2006 ‑ the Amended and Restated 2013 “2013 The Company issued stock options, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) to employees, consultants and non-employee directors. Stock option awards generally vest over a four ten may September 2013, third Stock Options Options have been granted to the Company’s employees under the five first ten The following is a summary of option activity (in thousands, except per share data): Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding, January 1, 2020 281 $ 5.32 $ 5.32 3.62 $ 573 Exercised (5 ) 6.00 $ 10.77 0.41 24 Forfeited — — — — Outstanding, December 31, 2020 276 10.29 5.41 2.67 54 Exercisable, December 31, 2020 281 10.21 5.41 2.67 54 Vested and expected to vest 276 10.29 5.41 2.67 54 As of December 31, 2020 Restricted Stock Unit/Awards The following is a summary of RSU/RSA activity (in thousands, except per share data): Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2020 770 $ 25.18 $ 9,143 Granted 1,201 11.39 13,677 Released (605 ) $ 20.83 20.83 6,911 Cancelled/Forfeited (40 ) 15.27 342 Outstanding, December 31, 2020 1,325 14.97 11,279 Vested and expected to vest 1,325 14.97 11,279 The aggregate intrinsic value of RSUs and RSAs outstanding at December 31, 2020 December 31, 2020 Share-Based Compensation The Company recognizes compensation expense on a straight-line basis over the applicable vesting term of the award and expense is adjusted as forfeitures occur. In 2014, Employee share-based compensation expenses recognized for the years ended December 31, Share-Based compensation - by expense type: 2020 2019 2018 Cost of goods sold $ 937 $ 772 $ 795 Research and development 2,812 2,557 2,419 Sales and marketing 1,191 1,070 925 General and administrative 8,106 7,405 6,981 Total share-based compensation expense $ 13,046 $ 11,804 $ 11,120 Share-Based compensation - by award type: 2020 2019 2018 Employee stock options $ — $ — $ 12 Restricted stock units 13,046 11,804 11,108 Total share-based compensation expense $ 13,046 $ 11,804 $ 11,120 |
Note Q - Stockholders' Equity
Note Q - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE Q—STOCKHOLDERS’ EQUITY Common Stock The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 45,000,000 shares of common stock, all of which have been designated voting common stock. Preferred Stock The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5,000,000 shares of preferred stock. Public Offerings of Common Stock On October 17, 2016, 3 November 1, 2016, 3, may November 22, 2016, March 2017 October 24, 2019, 3 January 9, 2020, 3, February 28, 2020, may December 31, 2020, |
Note R - Segment and Geographic
Note R - Segment and Geographic Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE R—SEGMENT AND GEOGRAPHIC INFORMATION The Company operates in one reportable segment. The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker, manages the Company’s operations as a whole and reviews financial information presented on a consolidated basis, accompanied by information about product revenue, for purposes of evaluating financial performance and allocating resources. The following tables set forth the Company’s revenue and asset information by geographic region. Revenue is classified based on the location of where the product is manufactured. Long-lived assets in the tables below comprise only property, plant, equipment and intangible assets (in thousands): Year ended December 31, 2020 2019 2018 Revenues: United States $ 18,380 $ 9,795 $ 10,795 Taiwan 131,076 97,776 113,547 China 85,167 83,301 143,123 $ 234,623 $ 190,872 $ 267,465 As of December 31, 2020 2019 2018 Long-lived assets: United States $ 90,999 $ 94,507 $ 88,815 Taiwan 71,080 73,816 65,451 China 108,575 97,687 89,736 $ 270,654 $ 266,010 $ 244,002 The Company serves four 2020 2019 2018 |
Note S - Employee Benefit Plans
Note S - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE S—EMPLOYEE BENEFIT PLANS On August 1, 2000, 401 401 December 31, 2020, 2019 2018 Employees of Global participate in a state-mandated social security program in China. Under this program, pension costs are recorded on the basis of required monthly contributions to employees’ individual accounts during their service periods. Under the regulations of the People’s Republic of China, Global is required to make fixed contributions to a fund, which is under the administration of the local labor departments. Pension expense for Global was $1.2 million, $0.7 million, and $0.9 million for the years ended December 31, 2020, 2019 2018 Employees Prime World’s Taiwan branch participate in a pension program under the Taiwan Labor Pension Act. Pension expense for the Prime World’s Taiwan branch was $0.8 million, $0.8 million, and $0.9 million for the years ended December 31, 2020, 2019 2018 |
Note T - Commitments and Contin
Note T - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE T—COMMITMENTS AND CONTINGENCIES Commitments The Company conducts part of its operations from leased facilities and also leases equipment. Rent expense was $1.4 million, $1.3 million, and $1.1 million, respectively, for the years ended December 31, 2020, 2019 2018 At December 31, 2020 one 2029 Year ended December 31, Amount 2021 $ 1,356 2022 1,350 2023 1,308 2024 1,247 2025 1,273 thereafter 4,190 $ 10,724 Employment Agreements and Consultancy Agreements The Company has entered into employment and indemnification agreements with three The Company has also entered into employment and indemnification agreements with one six Contingencies From time to time, the Company may not Except for the lawsuits described below, the Company believes that there are no Class Action and Shareholder Derivative Litigation On August 5, 2017, two Mona Abouzied v. Applied Optoelectronics, Inc., Chih-Hsiang (Thompson) Lin, and Stefan J. Murry, et al. No. 4:17 02399. 10 20 August 3, 2017 40G one 100G.” August 16, 2017 ( No. 4:17 02512 two January 22, 2018, March 6, 2018. April 4, 2018, March 28, 2019. May 15, 2019, X. May 16, 2019. second May 28, 2019, 23 July 12, 2019, August 26, 2019, November 13, 2019, November 27, 2019. December 11, 2019, December 16, 2019, December 20, 2019. January 3, 2020, January 13, 2020, January 21, 2020. January 23, 2020, January 24, 2020, June 2, 2020, June 4, 2020, no August 3, 2020. On August 3, 2020, October 20, 2020, $15.5 November 24, 2020, December 7, 2020, After taking into account all currently available information, the advice of our counsel, and the extent and currently-expected availability of our existing insurance coverage, we believe that the outcome of this matter will not not On August 7, 2018, Lei Jin, derivatively on behalf of Applied Optoelectronics, Inc. v. Chih-Hsiang (“Thompson”) Lin, Stefan J. Murry, William H. Yeh, Alex Ignatiev, Richard B. Black, Min-Chu Chen, Alan Moore, and Che-Wei Lin and Applied Optoelectronics, Inc. No. 4:18 02713 14 Abouzied December 18, 2018, second Yiu Kwong Ng v. Chih-Hsiang (“Thompson”) Lin, Stefan J. Murry, William H. Yeh, Alex Ignatiev, Richard B. Black, Min-Chu Chen, Alan Moore, and Che-Wei Lin and Applied Optoelectronics, Inc. No. 4:18 4751 Jin September 28, 2018 25G January 11, 2019, two January 15, 2019, June 24, 2020, July 2, 2020, August 3, 2020. December 2, 2020. December 2, 2020, December 7, 2020, January 13, 2021. March 1, 2021. 21 not |
Note U - Subsequent Events
Note U - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE U—SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were issued. In January 2021, In January 2021, |
Note V - Selected Quarterly Fin
Note V - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE V—Selected Quarterly Financial Data (unaudited) The following tables set forth a summary of the Company’s quarterly financial information for each of the four December 31, 2020 2019 First Second Third Fourth Year ended December 31, 2020 Quarter Quarter Quarter Quarter Revenue $ 40,467 $ 65,222 $ 76,608 $ 52,326 Cost of goods sold 34,129 51,486 57,418 41,049 Gross profit 6,338 13,736 19,190 11,277 Gross margin 15.7 % 21.1 % 25.0 % 21.6 % Operating expenses: Research and development 10,558 10,803 11,206 10,826 Sales and marketing 2,936 3,430 4,491 3,230 General and administrative 10,638 10,611 10,272 10,382 Total operating expenses 24,132 24,844 25,969 24,438 Loss from operations (17,794 ) (11,108 ) (6,779 ) (13,161 ) Interest and other expense, net (1,052 ) (468 ) (588 ) (274 ) Net loss before taxes (18,846 ) (11,576 ) (7,367 ) (13,435 ) Income tax (expense) benefit 2,049 (7,024 ) (2,249 ) (4 ) Net loss $ (16,797 ) $ (18,600 ) $ (9,616 ) $ (13,439 ) Net loss per share—basic $ (0.83 ) $ (0.89 ) $ (0.42 ) $ (0.57 ) Net loss per share—diluted $ (0.83 ) $ (0.89 ) $ (0.42 ) $ (0.57 ) First Second Third Fourth Year ended December 31, 2019 Quarter Quarter Quarter Quarter Revenue $ 52,719 $ 43,411 $ 46,084 $ 48,658 Cost of goods sold 40,368 32,873 34,108 37,322 Gross profit 12,351 10,538 11,976 11,336 Gross margin 23.4 % 24.3 % 26.0 % 23.3 % Operating expenses: Research and development 11,185 11,151 10,466 10,597 Sales and marketing 2,595 2,331 2,518 2,615 General and administrative 10,440 10,884 9,988 10,178 Total operating expenses 24,220 24,366 22,972 23,390 Loss from operations (11,869 ) (13,828 ) (10,996 ) (12,054 ) Interest and other income (expense), net (1,079 ) (729 ) 276 (1,109 ) Net loss before taxes (12,948 ) (14,557 ) (10,720 ) (13,163 ) Income tax (expense) benefit 2,474 3,191 1,940 (22,267 ) Net loss $ (10,474 ) $ (11,366 ) $ (8,780 ) $ (35,430 ) Net loss per share—basic $ (0.53 ) $ (0.57 ) $ (0.44 ) $ (1.76 ) Net loss per share—diluted $ (0.53 ) $ (0.57 ) $ (0.44 ) $ (1.76 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 1. Basis of Presentation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries and are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | 2. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates in the consolidated financial statements and accompanying notes. Significant estimates and assumptions that impact these financial statements relate to, among other things, allowance for doubtful accounts, inventory reserve, product warranty costs, share-based compensation expense, estimated useful lives of property and equipment, and taxes. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | 3. Foreign Currency Translation The functional currency for the Company’s foreign operations is the local currency. The assets and liabilities of these operations are translated at the rate of exchange in effect on the balance sheet date and sales and expenses are translated at monthly average rates. The resulting gains or losses from translation are included in a separate component of other comprehensive income. There is no |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 4. Fair Value The carrying value of cash, cash equivalents and short-term investments, accounts receivable, accounts payable, and note receivable approximate their historical fair values due to their short-term maturities. The carrying value of the debt approximates its fair value due to the short-term nature of the debt since it renews frequently at current interest rates. Management believes that the interest rates in effect at each year end represent the current market rates for similar borrowings. The fair value measurement standard defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard characterizes inputs used in determining fair value according to a hierarchy that prioritized inputs based on the degree to which they are observable. The three Level 1—Inputs Level 2—Inputs 1 not Level 3—Inputs not Assets and liabilities that are required to be fair valued on a recurring basis include money market funds, marketable securities, equity instruments and contingent consideration. Money market funds are valued with Level 1 |
Cash and Cash Equivalents, Policy [Policy Text Block] | 5. Cash and Cash Equivalents The Company considers all highly liquid securities with an original maturity of ninety December 31, 2020 2019 The Company maintains cash and cash equivalents at U.S. financial institutions for which the combined account balances in individual institutions may December 31, 2020 not not not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | 6. Restricted Cash/Compensating Balances Restricted cash includes guarantee deposits for customs duties and compensating balances associated with credit facilities. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | 7. Accounts Receivable/Allowance for Doubtful Accounts The Company carries its accounts receivable at the net amount that it estimates to be collectible. An allowance for uncollectable accounts is maintained through a charge against operations. The allowance is determined by management review of outstanding amounts per customer, historical payments and the aging of accounts. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | 8. Concentration of Credit Risk and Significant Customers Financial instruments which potentially subject the Company to concentrations of credit risk include cash, cash equivalents and accounts receivable. The Company places all cash and cash equivalents with high-credit quality financial institutions. The Company performs ongoing credit valuations of its customers’ financial condition whenever deemed necessary and generally does not 2020, 2019 2018 five 2020 2019 five December 31, 2020 2019 December 31, 2020 December 31, 2019 No ten 2020, 2019 2018 ten December 31, 2020 2019. |
Inventory, Policy [Policy Text Block] | 9. Inventories Inventories are stated at the lower of cost (average-cost method) or market. Work in process and finished goods includes materials, labor and allocated overhead. The Company assesses the valuation of its inventory on a periodic basis and provides write-offs for the value of estimated excess and obsolete inventory based on estimates of future demand. |
Property, Plant and Equipment, Policy [Policy Text Block] | 10. Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. The Company calculates depreciation using the straight-line method over the following estimated useful lives: Useful lives (in years) Buildings 20 - 42 Land improvements 10 Machinery and equipment 2 - 20 Furniture and fixtures 3 - 7 Computer equipment and software 3 - 10 Leasehold improvements The shorter of the life of the applicable lease or the useful life of the improvement Transportation equipment 5 Major improvements are capitalized and expenditures for maintenance and repairs are expensed as incurred. Construction in progress represents property, plant and equipment under construction or being installed. Costs include original cost, installation, construction and other direct costs which include interest on borrowings used to finance the asset. Construction in progress is transferred to the appropriate fixed asset account and depreciation commences when the asset has been substantially completed and placed in service. Land use rights allow the Company rights for 50 October 7, 2054 December 28, 2067. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | 11. Intangible Assets Intangible assets consist of intellectual property that is stated at cost less accumulated amortization. As of December 31, 2020 may not no |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | 12. Impairment of Long-Lived Assets The Company accounts for impairment of long-lived assets in accordance with Accounting Standards Codification (“ASC”) 360, Property, Plant and Equipment 360” 360, may not not not 2020 2019 2018. |
Comprehensive Income, Policy [Policy Text Block] | 13. Comprehensive Income (Loss) ASC 220, Comprehensive Income 220” 220 |
Share-based Payment Arrangement [Policy Text Block] | 14. Share-based Compensation The Company accounts for share-based compensation in accordance with the provisions of ASC 718, Compensation—Stock Compensation |
Revenue from Contract with Customer [Policy Text Block] | 15. Revenue Recognition The Company derives revenue from the manufacture and sale of fiber optic networking products. Revenue recognition follows the criteria of ASC 606, Revenue from Contracts with Customers |
Standard Product Warranty, Policy [Policy Text Block] | 16. Product Warranty The Company generally offers a one three five may may December 31, 2020 2019 Year ended December 31, 2020 2019 2018 Beginning Balance, January 1 $ 821 $ 995 $ 1,118 Warranty costs incurred (457 ) (1,261 ) (4,888 ) Provision for warranty 339 1,087 4,765 Ending Balance, December 31 $ 703 $ 821 $ 995 |
Advertising Cost [Policy Text Block] | 17. Advertising Costs Advertising costs are charged to operations as incurred and amounted to approximately $0.4 million, $0.5 million, and $0.5 million for the years ended December 31, 2020, 2019 2018 |
Research and Development Expense, Policy [Policy Text Block] | 18. Research and Development Research and development costs are charged to operations as incurred. The Company receives reimbursement for certain development costs, which are capitalized when incurred, up to the reimbursable amount. |
Shipping And Handling Costs [Policy Text Block] | 19. Shipping and Handling Costs Shipping and handling costs are included in operating expenses as fulfillment costs unless we bill our customers for shipping and handling charges, which are included in net sales for the applicable period, and the corresponding shipping and handling expense is reported in cost of sales. |
Income Tax, Policy [Policy Text Block] | 20. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC 740, Income Taxes not The Company records uncertain tax positions in accordance with ASC 740 two 1 not 2 not 50 The Company recognizes interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying consolidated statement of operations. Accrued interest and penalties are included on the related tax liability line in the consolidated balance sheet. |
Global Intangible Low-Taxed Income Provisions (GILTI) [Policy Text Block] | 21. Global Intangible Low-taxed Income Provisions ("GILTI") One of the base broadening provisions of the U.S. Tax Cuts and Jobs Act of 2017 2017 is the global intangible low-taxed income provisions ("GILTI"). In accordance with guidance issued by the FASB staff, the Company has adopted an accounting policy to treat any GILTI inclusions as a period cost if and when incurred. Thus, for the fiscal years ended December 31, 2020, December 31, 2019, December 31, 2018, |
New Accounting Pronouncements, Policy [Policy Text Block] | 22. Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted in 2020 In June 2016 , 2016 13 not January 1, 2020. not may In March 2020 , 2020 03, seven 2020 03 not In December 2019 , 2019 12, 740 . 2019 12 December 31, 2020, not In August 2020, Item 101 Item 103 Item 105 thirty not Recent Accounting Pronouncements Yet to be Adopted In March 2020 , 2020 04, 848 March 12, 2020, may December 31, 2022. In August 2020 , 2020 06, 470 20 815 40 two three 470 20 December 15, 2021. In November 2020, Item 301 Item 302 303 January 11, 2021, thirty February 10, 2021, first 210 |
Note B - Summary of Significa_2
Note B - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Useful Lives of Property, Plant and Equipment [Table Text Block] | Useful lives (in years) Buildings 20 - 42 Land improvements 10 Machinery and equipment 2 - 20 Furniture and fixtures 3 - 7 Computer equipment and software 3 - 10 Leasehold improvements The shorter of the life of the applicable lease or the useful life of the improvement Transportation equipment 5 |
Schedule of Product Warranty Liability [Table Text Block] | Year ended December 31, 2020 2019 2018 Beginning Balance, January 1 $ 821 $ 995 $ 1,118 Warranty costs incurred (457 ) (1,261 ) (4,888 ) Provision for warranty 339 1,087 4,765 Ending Balance, December 31 $ 703 $ 821 $ 995 |
Note C - Revenue Recognition (T
Note C - Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Years ended December 31, % of % of % of 2020 Revenue 2019 Revenue 2018 Revenue Data Center $ 173,437 73.9 % $ 143,562 75.2 % $ 200,236 74.9 % CATV 37,944 16.2 % 37,328 19.6 % 51,699 19.3 % Telecom 21,092 9.0 % 8,429 4.4 % 13,159 4.9 % FTTH 110 0.0 % 190 0.1 % 818 0.3 % Other 2,040 0.9 % 1,363 0.7 % 1,553 0.6 % Total Revenue $ 234,623 100.0 % $ 190,872 100.0 % $ 267,465 100.0 % |
Note D - Operating Leases (Tabl
Note D - Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year ended December 31, Year ended December 31, 2020 2019 Operating lease expense $ 1,206 $ 1,229 Financing lease expense 32 5 Short Term lease expense 130 111 Total lease expense $ 1,368 $ 1,345 December 31, December 31, 2020 2019 Weighted Average Remaining Lease Term (Years) - operating leases 8.09 9.23 Weighted Average Remaining Lease Term (Years) - financing leases 2.83 3.83 Weighted Average Discount Rate - operating leases 3.23% 3.13% Weighted Average Discount Rate - financing leases 5.00% 5.00% Year ended December 31, Year ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 1,351 1,325 Operating cash flows from financing lease 5 8 Financing cash flows from financing lease 17 2 Right-of-use assets obtained in exchange for new operating lease liabilities 712 64 Right-of-use assets obtained in exchange for new finance lease liabilities — 124 |
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block] | Operating Financing 2021 $ 1,334 $ 22 2022 1,328 22 2023 1,243 65 2024 1,247 — 2025 1,273 — 2026 and thereafter 4,190 — Total lease payments $ 10,615 $ 109 Less imputed interest (1,677 ) (9 ) Present value $ 8,938 $ 100 |
Note E - Cash, Cash Equivalen_2
Note E - Cash, Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | December 31, December 31, 2020 2019 Cash and cash equivalents $ 43,425 $ 59,977 Restricted cash 6,689 7,051 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 50,114 $ 67,028 |
Note F - Earnings Per Share (Ta
Note F - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2020 2019 2018 Numerator: Net loss $ (58,452 ) $ (66,049 ) $ (2,146 ) Denominator: Weighted average shares used to compute net loss per share Basic 21,867 19,982 19,647 Effect of dilutive options and restricted stock units — — — Diluted 21,867 19,982 19,647 Net loss per share Basic $ (2.67 ) $ (3.31 ) $ (0.11 ) Diluted $ (2.67 ) $ (3.31 ) $ (0.11 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | As of December 31, 2020 2019 Employee stock options 19 44 Restricted stock units 5 1 Shares for convertible senior notes 4,587 4,587 Total antidilutive shares 4,611 4,632 |
Note G - Inventories (Tables)
Note G - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of December 31, 2020 2019 Raw materials $ 25,555 $ 15,570 Work in process and sub-assemblies 52,544 50,787 Finished goods 32,298 18,671 Total inventory $ 110,397 $ 85,028 |
Note H - Property, Plant and _2
Note H - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2020 December 31, 2019 Land improvements $ 806 $ 806 Building and improvements 88,280 83,846 Machinery and equipment 253,738 237,464 Furniture and fixtures 5,540 5,105 Computer equipment and software 11,912 10,506 Transportation equipment 699 658 360,975 338,385 Less accumulated depreciation and amortization (142,434 ) (116,979 ) 218,541 221,406 Construction in progress 33,342 25,937 Land 1,101 1,101 Total property, plant and equipment, net $ 252,984 $ 248,444 |
Note I - Intangible Assets (Tab
Note I - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2020 Gross Accumulated Intangible Amount amortization assets, net Patents $ 8,158 $ (4,165 ) $ 3,993 Trademarks 21 (15 ) $ 6 Total intangible assets $ 8,179 $ (4,180 ) $ 3,999 December 31, 2019 Gross Accumulated Intangible Amount amortization assets, net Patents $ 7,638 $ (3,560 ) $ 4,078 Trademarks 17 (14 ) 3 Total intangible assets $ 7,655 $ (3,574 ) $ 4,081 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2021 $ 579 2022 579 2023 579 2024 579 2025 579 thereafter 1,104 $ 3,999 |
Note J - Fair Value of Financ_2
Note J - Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted prices Significant in active other markets for observable Significant identical remaining unobservable assets (Level 1) inputs (Level 2) inputs (Level 3) Total Assets: Cash and cash equivalents $ 43,425 $ — $ — $ 43,425 Restricted cash 6,689 — — 6,689 Total assets $ 50,114 $ — $ — $ 50,114 Liabilities: Bank acceptance payable — $ 15,860 — $ 15,860 Convertible senior notes — 70,225 — 70,225 Total liabilities $ — $ 86,085 $ — $ 86,085 Quoted prices Significant in active other markets for observable Significant identical remaining unobservable assets (Level 1) inputs (Level 2) inputs (Level 3) Total Assets: Cash and cash equivalents $ 59,977 $ — $ — $ 59,977 Restricted cash 7,051 — — 7,051 Total assets $ 67,028 $ — $ — $ 67,028 Liabilities: Bank acceptance payable — $ 6,310 — $ 6,310 Convertible senior notes — 77,191 — 77,191 Total liabilities $ — $ 83,501 $ — $ 83,501 |
Note K - Notes Payable and Lo_2
Note K - Notes Payable and Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2020 December 31, 2019 Revolving line of credit with a U.S. bank up to $ 20,000 1.5 April 2, 2021 $ 18,700 $ 20,000 Paycheck Protection Program Term Note with interest at fixed rate 1.0 April 16, 2022 6,229 — Revolving line of credit with a Taiwan bank up to $ 3,336 2.2 October 16, 2020 — 3,336 Revolving line of credit with a Taiwan bank up to $ 3,436 2.2 January 31, 2021 1,756 — Notes payable to a finance company due in monthly installments with 3.5 January 21, 2022 1,941 4,262 Notes payable to a finance company due in monthly installments with 3.1 January 21, 2022 2,149 4,633 Revolving line of credit with a Taiwan bank up to $ 2,668 1.7 April 11, 2020 — 2,668 Revolving line of credit with a China bank up to $ 8,917 4.5 October 15, 2021 2,299 — Revolving line of credit with a China bank up to $ 25,449 3.01 4.57 May 24, 2024 11,603 7,919 Credit facility with a China bank up to $ 7,167 5.7 June 20, 2022 7,510 7,167 Sub-total 52,187 49,985 Less debt issuance costs, net (18 ) (62 ) Grand total 52,169 49,923 Less current portion (38,265 ) (33,371 ) Non-current portion $ 13,904 $ 16,552 Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 15,860 $ 6,310 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 $ 38,265 2022 13,904 Total outstanding $ 52,169 |
Note L - Convertible Senior N_2
Note L - Convertible Senior Notes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Convertible Debt [Table Text Block] | December 31, 2020 Principal $ 80,500 Unamortized debt issuance costs (2,646 ) Net carrying amount $ 77,854 |
Interest Income and Interest Expense Disclosure [Table Text Block] | Year ended December 31, 2020 2019 Contractual interest expense $ 4,025 $ 3,276 Amortization of debt issuance costs 831 681 Total interest cost $ 4,856 $ 3,957 Effective interest rate 5.1 % 5.1 % |
Note M - Accrued Liabilities (T
Note M - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2020 December 31, 2019 Accrued payroll $ 10,517 $ 11,009 Accrued employee benefits 3,057 2,288 Accrued state and local taxes 251 1,215 Accrued interest 1,256 1,208 Advance payments 303 312 Accrued product warranty 703 821 Accrued commission expenses 974 420 Accrued professional fees 377 222 Accrued shipping and tariff expenses 526 344 Accrued other 547 25 Total accrued liabilities $ 18,511 $ 17,864 |
Note N - Other Income and Exp_2
Note N - Other Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Year ended December 31, 2020 2019 2018 Foreign exchange transaction gain $ 1 $ 20 $ 663 Government subsidy income 2,708 1,614 934 Other non-operating gain 304 219 224 Loss on disposal of assets (15 ) (13 ) (7 ) Total other income, net $ 2,998 $ 1,840 $ 1,814 |
Note O - Income Taxes (Tables)
Note O - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years ended December 31, 2020 2019 2018 Domestic $ (20,288 ) $ (35,279 ) (11,444 ) Foreign (30,936 ) (16,108 ) 1,666 Total loss before income taxes $ (51,224 ) $ (51,387 ) (9,778 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Current: 2020 2019 2018 Federal $ 41 $ — $ — State 2 16 80 Foreign — 97 1,349 Total $ 43 $ 113 $ 1,429 Deferred: Federal $ (172 ) $ 16,375 $ (6,391 ) State — 1,716 61 Foreign 7,357 (3,542 ) (2,731 ) Total $ 7,185 $ 14,549 $ (9,061 ) Income tax (benefit) expense $ 7,228 $ 14,662 $ (7,632 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 NOL carryforward $ 31,526 $ 21,516 Inventory reserves 2,241 2,385 AMT credit — 172 Unrealized gains and losses 59 96 Share-based compensation 618 528 Foreign tax credit 4,599 4,599 Research and development credits 9,008 8,264 Interest 1,784 888 ASC 842 Assets 1,671 1,641 Other 784 520 Deferred tax assets 52,290 40,609 Less valuation allowance (43,462 ) (25,736 ) Deferred tax assets, net 8,828 14,873 Depreciation and amortization (7,402 ) (6,180 ) ASC 842 Liabilities (1,426 ) (1,406 ) Deferred tax liabilities (8,828 ) (7,586 ) Deferred tax assets, net $ — $ 7,287 |
Summary of Valuation Allowance [Table Text Block] | 2020 2019 2018 Beginning Balance, January 1 $ 25,736 $ — $ — Change charged to expense/(income) 17,137 25,736 — Change charged to currency translation adjustment 589 — — Ending Balance, December 31 $ 43,462 $ 25,736 $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2020 2019 2018 Expected taxes at statutory rate $ (10,775 ) $ (10,791 ) $ (2,053 ) Non-deductible/non-taxable items 1,132 962 1,020 Foreign rate differences 1,153 590 (1,043 ) Foreign permanent differences (1,002 ) (671 ) (1,067 ) Changes in valuation allowance 17,137 25,736 — Share-based compensation 426 607 (1,325 ) Changes in tax rates — — (103 ) Transition tax adjustment, net of foreign tax credits — — (1,777 ) Research and development credits (744 ) (1,616 ) (2,022 ) Alternative Minimum Tax (172 ) — — Foreign other 12 27 514 Other, net 61 (182 ) 224 Tax (benefit) expense $ 7,228 $ 14,662 $ (7,632 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2020 2019 2018 Unrecognized tax benefits — January 1 $ 181 $ 181 $ 181 Gross increases — tax positions in prior period — — — Gross decreases — tax positions in prior period — — — Unrecognized tax benefits — December 31 $ 181 $ 181 $ 181 |
Note P - Share-based Compensa_2
Note P - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding, January 1, 2020 281 $ 5.32 $ 5.32 3.62 $ 573 Exercised (5 ) 6.00 $ 10.77 0.41 24 Forfeited — — — — Outstanding, December 31, 2020 276 10.29 5.41 2.67 54 Exercisable, December 31, 2020 281 10.21 5.41 2.67 54 Vested and expected to vest 276 10.29 5.41 2.67 54 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2020 770 $ 25.18 $ 9,143 Granted 1,201 11.39 13,677 Released (605 ) $ 20.83 20.83 6,911 Cancelled/Forfeited (40 ) 15.27 342 Outstanding, December 31, 2020 1,325 14.97 11,279 Vested and expected to vest 1,325 14.97 11,279 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | 2020 2019 2018 Cost of goods sold $ 937 $ 772 $ 795 Research and development 2,812 2,557 2,419 Sales and marketing 1,191 1,070 925 General and administrative 8,106 7,405 6,981 Total share-based compensation expense $ 13,046 $ 11,804 $ 11,120 2020 2019 2018 Employee stock options $ — $ — $ 12 Restricted stock units 13,046 11,804 11,108 Total share-based compensation expense $ 13,046 $ 11,804 $ 11,120 |
Note R - Segment and Geograph_2
Note R - Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year ended December 31, 2020 2019 2018 Revenues: United States $ 18,380 $ 9,795 $ 10,795 Taiwan 131,076 97,776 113,547 China 85,167 83,301 143,123 $ 234,623 $ 190,872 $ 267,465 |
Long-lived Assets by Geographic Areas [Table Text Block] | As of December 31, 2020 2019 2018 Long-lived assets: United States $ 90,999 $ 94,507 $ 88,815 Taiwan 71,080 73,816 65,451 China 108,575 97,687 89,736 $ 270,654 $ 266,010 $ 244,002 |
Note T - Commitments and Cont_2
Note T - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year ended December 31, Amount 2021 $ 1,356 2022 1,350 2023 1,308 2024 1,247 2025 1,273 thereafter 4,190 $ 10,724 |
Note V - Selected Quarterly F_2
Note V - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Second Third Fourth Year ended December 31, 2020 Quarter Quarter Quarter Quarter Revenue $ 40,467 $ 65,222 $ 76,608 $ 52,326 Cost of goods sold 34,129 51,486 57,418 41,049 Gross profit 6,338 13,736 19,190 11,277 Gross margin 15.7 % 21.1 % 25.0 % 21.6 % Operating expenses: Research and development 10,558 10,803 11,206 10,826 Sales and marketing 2,936 3,430 4,491 3,230 General and administrative 10,638 10,611 10,272 10,382 Total operating expenses 24,132 24,844 25,969 24,438 Loss from operations (17,794 ) (11,108 ) (6,779 ) (13,161 ) Interest and other expense, net (1,052 ) (468 ) (588 ) (274 ) Net loss before taxes (18,846 ) (11,576 ) (7,367 ) (13,435 ) Income tax (expense) benefit 2,049 (7,024 ) (2,249 ) (4 ) Net loss $ (16,797 ) $ (18,600 ) $ (9,616 ) $ (13,439 ) Net loss per share—basic $ (0.83 ) $ (0.89 ) $ (0.42 ) $ (0.57 ) Net loss per share—diluted $ (0.83 ) $ (0.89 ) $ (0.42 ) $ (0.57 ) First Second Third Fourth Year ended December 31, 2019 Quarter Quarter Quarter Quarter Revenue $ 52,719 $ 43,411 $ 46,084 $ 48,658 Cost of goods sold 40,368 32,873 34,108 37,322 Gross profit 12,351 10,538 11,976 11,336 Gross margin 23.4 % 24.3 % 26.0 % 23.3 % Operating expenses: Research and development 11,185 11,151 10,466 10,597 Sales and marketing 2,595 2,331 2,518 2,615 General and administrative 10,440 10,884 9,988 10,178 Total operating expenses 24,220 24,366 22,972 23,390 Loss from operations (11,869 ) (13,828 ) (10,996 ) (12,054 ) Interest and other income (expense), net (1,079 ) (729 ) 276 (1,109 ) Net loss before taxes (12,948 ) (14,557 ) (10,720 ) (13,163 ) Income tax (expense) benefit 2,474 3,191 1,940 (22,267 ) Net loss $ (10,474 ) $ (11,366 ) $ (8,780 ) $ (35,430 ) Net loss per share—basic $ (0.53 ) $ (0.57 ) $ (0.44 ) $ (1.76 ) Net loss per share—diluted $ (0.53 ) $ (0.57 ) $ (0.44 ) $ (1.76 ) |
Note B - Summary of Significa_3
Note B - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 43,425 | $ 59,977 | |
Cash, Uninsured Amount | $ 38,700 | ||
Number of Patents Issued | 295 | ||
Asset Impairment Charges, Total | $ 0 | 0 | $ 0 |
Product Warranty Accrual, Current | 703 | 821 | |
Advertising Expense | $ 400 | $ 500 | $ 500 |
Minimum [Member] | |||
Product Warranty Extension Period (Year) | 3 years | ||
Maximum [Member] | |||
Product Warranty Extension Period (Year) | 5 years | ||
Patents [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | ||
Patents [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Customers | 5 | 5 | 5 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Five Customers [Member] | |||
Concentration Risk, Percentage | 73.30% | 80.70% | 85.70% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Microsoft [Member] | |||
Concentration Risk, Percentage | 38.30% | 32.20% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Amazon [Member] | |||
Concentration Risk, Percentage | 11.50% | 24.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Facebook [Member] | |||
Concentration Risk, Percentage | 10.90% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Cisco [Member] | |||
Concentration Risk, Percentage | 10.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Customers | 5 | 5 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Five Customers [Member] | |||
Concentration Risk, Percentage | 64.60% | 82.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Microsoft [Member] | |||
Concentration Risk, Percentage | 20.90% | 32.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Amazon [Member] | |||
Concentration Risk, Percentage | 8.50% | 33.00% | |
Non-US [Member] | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 10,700 | $ 15,100 |
Note B - Summary of Significa_4
Note B - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Land Improvements [Member] | |
Useful lives (Year) | 10 years |
Vehicles [Member] | |
Useful lives (Year) | 5 years |
Minimum [Member] | Building [Member] | |
Useful lives (Year) | 20 years |
Minimum [Member] | Machinery and Equipment [Member] | |
Useful lives (Year) | 2 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Useful lives (Year) | 3 years |
Minimum [Member] | Computer Equipment and Software [Member] | |
Useful lives (Year) | 3 years |
Maximum [Member] | Building [Member] | |
Useful lives (Year) | 42 years |
Maximum [Member] | Machinery and Equipment [Member] | |
Useful lives (Year) | 20 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Useful lives (Year) | 7 years |
Maximum [Member] | Computer Equipment and Software [Member] | |
Useful lives (Year) | 10 years |
Note B - Summary of Significa_5
Note B - Summary of Significant Accounting Policies - Product Warrant Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 821 | $ 995 | $ 1,118 |
Warranty costs incurred | (457) | (1,261) | (4,888) |
Provision for warranty | 339 | 1,087 | 4,765 |
Balance | $ 703 | $ 821 | $ 995 |
Note C - Revenue Recognition -
Note C - Revenue Recognition - Revenue by Major Product Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 52,326 | $ 76,608 | $ 65,222 | $ 40,467 | $ 48,658 | $ 46,084 | $ 43,411 | $ 52,719 | $ 234,623 | $ 190,872 | $ 267,465 |
Percent of Revenue | 100.00% | 100.00% | 100.00% | ||||||||
Data Center [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 173,437 | $ 143,562 | $ 200,236 | ||||||||
Percent of Revenue | 73.90% | 75.20% | 74.90% | ||||||||
CATV [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 37,944 | $ 37,328 | $ 51,699 | ||||||||
Percent of Revenue | 16.20% | 19.60% | 19.30% | ||||||||
Telecom [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 21,092 | $ 8,429 | $ 13,159 | ||||||||
Percent of Revenue | 9.00% | 4.40% | 4.90% | ||||||||
FTTH [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 110 | $ 190 | $ 818 | ||||||||
Percent of Revenue | 0.00% | 0.10% | 0.30% | ||||||||
Product and Service, Other [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 2,040 | $ 1,363 | $ 1,553 | ||||||||
Percent of Revenue | 0.90% | 0.70% | 0.60% |
Note D - Operating Leases - Com
Note D - Operating Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease expense | $ 1,206 | $ 1,229 |
Financing lease expense | 32 | 5 |
Short Term lease expense | 130 | 111 |
Total lease expense | $ 1,368 | $ 1,345 |
Weighted Average Remaining Lease Term (Years) - operating leases (Year) | 8 years 1 month 2 days | 9 years 2 months 23 days |
Weighted Average Remaining Lease Term (Years) - financing leases (Year) | 2 years 9 months 29 days | 3 years 9 months 29 days |
Weighted Average Discount Rate - operating leases | 3.23% | 3.13% |
Weighted Average Discount Rate - financing leases | 5.00% | 5.00% |
Operating cash flows from operating leases | $ 1,351 | $ 1,325 |
Operating cash flows from financing lease | 5 | 8 |
Financing cash flows from financing lease | 17 | 2 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 712 | 64 |
Right-of-use assets obtained in exchange for new finance lease liabilities | $ 0 | $ 124 |
Note D - Operating Leases - Mat
Note D - Operating Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021, operating leases | $ 1,334 |
2021, financing leases | 22 |
2022, operating leases | 1,328 |
2022, financing leases | 22 |
2023, operating leases | 1,243 |
2023, financing leases | 65 |
2024, operating leases | 1,247 |
2024, financing leases | 0 |
2025, operating leases | 1,273 |
2025, financing leases | 0 |
2025 and thereafter, operating leases | 4,190 |
2025 and thereafter, financing leases | 0 |
Total operating lease payments | 10,615 |
Total financing lease payments | 109 |
Less imputed interest, operating leases | (1,677) |
Less imputed interest, financing leases | (9) |
Present value, operating leases | 8,938 |
Present value, financing leases | $ 100 |
Note E - Cash, Cash Equivalen_3
Note E - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Restricted Cash and Cash Equivalents, Current, Total | $ 6,689 | $ 7,051 |
CHINA | ||
Certificates of Deposit, at Carrying Value | 500 | 4,200 |
Bankers Acceptance [Member] | ||
Restricted Cash and Cash Equivalents, Current, Total | $ 4,900 | $ 1,900 |
Note E - Cash, Cash Equivalen_4
Note E - Cash, Cash Equivalents and Restricted Cash - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 43,425 | $ 59,977 |
Restricted cash | 6,689 | 7,051 |
Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $ 50,114 | $ 67,028 |
Note F - Earnings Per Share - C
Note F - Earnings Per Share - Computation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net loss | $ (13,439) | $ (9,616) | $ (18,600) | $ (16,797) | $ (35,430) | $ (8,780) | $ (11,366) | $ (10,474) | $ (58,452) | $ (66,049) | $ (2,146) |
Basic (in shares) | 21,866,630 | 19,982,363 | 19,646,646 | ||||||||
Effect of dilutive options and restricted stock units (in shares) | 0 | 0 | 0 | ||||||||
Diluted (in shares) | 21,866,630 | 19,982,363 | 19,646,646 | ||||||||
Basic (in dollars per share) | $ (0.57) | $ (0.42) | $ (0.89) | $ (0.83) | $ (1.76) | $ (0.44) | $ (0.57) | $ (0.53) | $ (2.67) | $ (3.31) | $ (0.11) |
Diluted (in dollars per share) | $ (0.57) | $ (0.42) | $ (0.89) | $ (0.83) | $ (1.76) | $ (0.44) | $ (0.57) | $ (0.53) | $ (2.67) | $ (3.31) | $ (0.11) |
Note F - Earnings Per Share - P
Note F - Earnings Per Share - Potentially Dilutive Securities Excluded from Diluted Net Income (Loss) per Share (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Total antidilutive shares (in shares) | 4,611 | 4,632 |
Share-based Payment Arrangement, Option [Member] | ||
Total antidilutive shares (in shares) | 19 | 44 |
Restricted Stock Units (RSUs) [Member] | ||
Total antidilutive shares (in shares) | 5 | 1 |
Convertible Debt Securities [Member] | ||
Total antidilutive shares (in shares) | 4,587 | 4,587 |
Note G - Inventories (Details T
Note G - Inventories (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Inventory, LIFO Reserve, Period Charge | $ 3,930 | $ 6,774 | $ 7,166 |
Inventory Write-down | $ 20,400 | $ 13,400 | $ 12,300 |
Note G - Inventories - Inventor
Note G - Inventories - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Raw materials | $ 25,555 | $ 15,570 |
Work in process and sub-assemblies | 52,544 | 50,787 |
Finished goods | 32,298 | 18,671 |
Total inventory | $ 110,397 | $ 85,028 |
Note H - Property, Plant and _3
Note H - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Total | $ 24,200 | $ 23,500 | $ 29,200 |
Interest Paid, Capitalized, Investing Activities | $ 400 | $ 200 | $ 0 |
Note H - Property, Plant and _4
Note H - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant and equipment, gross | $ 360,975 | $ 338,385 |
Less accumulated depreciation and amortization | (142,434) | (116,979) |
Property, plant and equipment, net before construction in progress and land | 218,541 | 221,406 |
Property, plant and equipment, net | 252,984 | 248,444 |
Land Improvements [Member] | ||
Property, plant and equipment, gross | 806 | 806 |
Building and Building Improvements [Member] | ||
Property, plant and equipment, gross | 88,280 | 83,846 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | 253,738 | 237,464 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 5,540 | 5,105 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment, gross | 11,912 | 10,506 |
Vehicles [Member] | ||
Property, plant and equipment, gross | 699 | 658 |
Construction in Progress [Member] | ||
Property, plant and equipment, net | 33,342 | 25,937 |
Land [Member] | ||
Property, plant and equipment, net | $ 1,101 | $ 1,101 |
Note I - Intangible Assets (Det
Note I - Intangible Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization of Intangible Assets, Total | $ 0.5 | $ 0.5 | $ 0.5 |
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 7 years |
Note I - Intangible Assets - Fi
Note I - Intangible Assets - Finite Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Intangible assets, gross amount | $ 8,179 | $ 7,655 |
Intangible assets, accumulated amortization | (4,180) | (3,574) |
Intangible assets, net | 3,999 | 4,081 |
Patents [Member] | ||
Intangible assets, gross amount | 8,158 | 7,638 |
Intangible assets, accumulated amortization | (4,165) | (3,560) |
Intangible assets, net | 3,993 | 4,078 |
Trademarks [Member] | ||
Intangible assets, gross amount | 21 | 17 |
Intangible assets, accumulated amortization | (15) | (14) |
Intangible assets, net | $ 6 | $ 3 |
Note I - Intangible Assets - Fu
Note I - Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 579 | |
2022 | 579 | |
2023 | 579 | |
2024 | 579 | |
2025 | 579 | |
thereafter | 1,104 | |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 3,999 | $ 4,081 |
Note J - Fair Value of Financ_3
Note J - Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 43,425 | $ 59,977 |
Restricted cash | 6,689 | 7,051 |
Total assets | 50,114 | 67,028 |
Bank acceptance payable | 15,860 | 6,310 |
Convertible senior notes | 70,225 | 77,191 |
Total liabilities | 86,085 | 83,501 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 43,425 | 59,977 |
Restricted cash | 6,689 | 7,051 |
Total assets | 50,114 | 67,028 |
Bank acceptance payable | 0 | 0 |
Convertible senior notes | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total assets | 0 | 0 |
Bank acceptance payable | 15,860 | 6,310 |
Convertible senior notes | 70,225 | 77,191 |
Total liabilities | 86,085 | 83,501 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total assets | 0 | 0 |
Bank acceptance payable | 0 | 0 |
Convertible senior notes | 0 | 0 |
Total liabilities | $ 0 | $ 0 |
Note K - Notes Payable and Lo_3
Note K - Notes Payable and Long-term Debt (Details Textual) | Jan. 21, 2022USD ($) | Jan. 21, 2022TWD ($) | Oct. 07, 2020USD ($) | Sep. 15, 2020USD ($) | Sep. 15, 2020TWD ($) | Apr. 17, 2020USD ($) | Sep. 30, 2019USD ($) | Jul. 23, 2019USD ($) | Jun. 21, 2019USD ($) | May 24, 2019USD ($) | May 08, 2019USD ($) | May 07, 2019USD ($) | Apr. 30, 2019USD ($) | Apr. 19, 2019USD ($) | Apr. 11, 2019USD ($) | Mar. 05, 2019USD ($) | Jan. 21, 2019USD ($) | Jan. 21, 2019TWD ($) | Dec. 11, 2018 | Nov. 29, 2018USD ($) | Nov. 29, 2018TWD ($) | Mar. 30, 2018USD ($) | Sep. 28, 2017USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Oct. 19, 2020USD ($) | Oct. 19, 2020CNY (¥) | Oct. 07, 2020TWD ($) | Jul. 23, 2019TWD ($) | Jun. 21, 2019CNY (¥) | May 24, 2019CNY (¥) | May 07, 2019CNY (¥) | Apr. 30, 2019CNY (¥) | Apr. 19, 2019CNY (¥) | Apr. 11, 2019TWD ($) | Jan. 21, 2019TWD ($) | Nov. 29, 2018TWD ($) |
Long-term Debt, Gross | $ 52,187,000 | $ 49,985,000 | ||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment, Total | 15,795,000 | 28,789,000 | $ 71,854,000 | |||||||||||||||||||||||||||||||||||
Finance Lease, Principal Payments | 17,000 | 2,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 28,700,000 | $ 48,800,000 | ||||||||||||||||||||||||||||||||||||
LIBOR Rate | 0.14% | 1.76% | ||||||||||||||||||||||||||||||||||||
Cash Collateral for Borrowed Securities | $ 5,400,000 | $ 6,100,000 | ||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | ||||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 1,941,000 | $ 4,262,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | ||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | Forecast [Member] | ||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment, Total | $ 800,000 | $ 22,311,381 | ||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | Promissory Note [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 6,800,000 | $ 210,601,605 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 1,900,000 | |||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities, Total | $ 8,700,000 | $ 267,340,468 | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Term (Year) | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Initial Payment | $ 2,200,000 | $ 67,340,468 | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Imputed Interest Rate | 3.50% | 3.50% | ||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities, Total | $ 8,700,000 | $ 267,333,186 | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Term (Year) | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Initial Payment | $ 2,200,000 | $ 67,333,186 | ||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Imputed Interest Rate | 3.10% | 3.10% | ||||||||||||||||||||||||||||||||||||
Finance Lease, Principal Payments | $ 5,500,000 | $ 159,027,448 | ||||||||||||||||||||||||||||||||||||
Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | Promissory Note [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 6,800,000 | $ 209,555,736 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 2,100,000 | |||||||||||||||||||||||||||||||||||||
Minimum [Member] | Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 5,571,229 | ||||||||||||||||||||||||||||||||||||
Minimum [Member] | Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | 200,000 | $ 5,570,167 | ||||||||||||||||||||||||||||||||||||
Maximum [Member] | Chailease Finance Co, Ltd. [Member] | Finance Lease Agreement 2 [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 6,139,188 | ||||||||||||||||||||||||||||||||||||
Maximum [Member] | Chailease Finance Co, Ltd. [Member] | Second Sales Contract [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 200,000 | $ 6,082,131 | ||||||||||||||||||||||||||||||||||||
Paycheck Protection Program, CARES Act [Member] | ||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 6,230,000 | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 6,229,000 | $ 0 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | 1.00% | ||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | CapEx Loan [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 5 years | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 26,000,000 | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | Term Loan [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 70 months | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 21,500,000 | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | CapEx Loan and Term Loan [Member] | ||||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 37,800,000 | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | CapEx Loan [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.30% | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | CapEx Loan [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.15% | |||||||||||||||||||||||||||||||||||||
Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||||||||||||||||||||||||||||||
Far Eastern [Member] | Far Eastern's Published One-Year Fixed Term Time Deposits Rate [Member] | Far Eastern Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.655% | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.045% | 1.045% | ||||||||||||||||||||||||||||||||||||
Far Eastern [Member] | TAIFX3 Rate [Member] | Far Eastern Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.70% | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.75% | 2.75% | ||||||||||||||||||||||||||||||||||||
SPD Bank [Member] | The SPD 30M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.32% | 4.32% | ||||||||||||||||||||||||||||||||||||
SPD Bank [Member] | The $2M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.59438% | |||||||||||||||||||||||||||||||||||||
SPD Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | The $2M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.48% | |||||||||||||||||||||||||||||||||||||
SPD Bank [Member] | Prime Rate [Member] | The SPD 9.9M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.2475% | |||||||||||||||||||||||||||||||||||||
SPD Bank [Member] | Prime Rate [Member] | The SPD 30M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.2475% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | The NT$100M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000,000 | $ 25,000,000 | $ 60,000,000 | $ 50,000,000 | ||||||||||||||||||||||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Fee, Percentage | 0.30% | 0.20% | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Percentage of Maximum Borrowing Capacity, Threshold for Financial Covenants | 75.00% | 60.00% | ||||||||||||||||||||||||||||||||||||
Fixed Charge Cover Ratio, Minimum Threshold | 1.5 | |||||||||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 18,700,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.40% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | CTBC Bank Co., Ltd. [Member] | Credit Facility with CTBC Bank Co., Ltd [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Far Eastern [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,668 | $ 2,668 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 0 | $ 2,668,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | 1.70% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Far Eastern [Member] | Far Eastern Credit Facility [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,600,000 | $ 80,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 180 days | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Far Eastern [Member] | Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,436,000 | $ 3,436,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 1,756,000 | $ 0 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | 2.20% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | The NT$100M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,300,000 | $ 100,000,000 | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | The US $1M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,336,000 | $ 3,336,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 0 | $ 3,336,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | 2.20% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | Minimum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 90 days | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | Maximum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 120 days | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.20% | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank in Taiwan [Member] | The NT$100M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,440,000 | |||||||||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 1,800,000 | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.15% | 2.15% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank in Taiwan [Member] | The NT$100M Credit Line [Member] | Minimum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 90 days | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank in Taiwan [Member] | The NT$100M Credit Line [Member] | Maximum [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term of Draw (Day) | 120 days | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Taishin International Bank in Taiwan [Member] | The US $1M Credit Line [Member] | Prime World International Holdings, Ltd. (“Prime World”) [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Construction Bank Co., Ltd. [Member] | China Merchants Credit Line [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 12 months | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,910,000 | ¥ 60,000,000 | ¥ 60,000,000 | |||||||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | 2,300,000 | |||||||||||||||||||||||||||||||||||||
Bank Acceptances Executed | 0 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 8,917,000 | $ 8,917,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 2,299,000 | $ 0 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | China Merchants Credit Line [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,900,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,449,000 | $ 25,449,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 11,603,000 | $ 7,919,000 | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.01% | 3.01% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.57% | 4.57% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD 9.9M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500,000 | ¥ 9,900,000 | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD 30M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 1 year | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,500,000 | ¥ 30,000,000 | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The $2M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 6 months | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD Credit Line [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 5 years | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,400,000 | ¥ 180,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | 11,600,000 | |||||||||||||||||||||||||||||||||||||
Bank Acceptances Executed | $ 15,900,000 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 18 months | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 14,100,000 | ¥ 100,000,000 | ||||||||||||||||||||||||||||||||||||
Bank Acceptances Executed | $ 0 | |||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 7,167,000 | $ 7,167,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 7,510,000 | $ 7,167,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | 5.70% | ||||||||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,100,000 | ¥ 50,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Line of Credit, Total | $ 7,500,000 | |||||||||||||||||||||||||||||||||||||
Bank Acceptances Executed | $ 0 |
Note K - Notes Payable and Lo_4
Note K - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Long-term debt | $ 52,187 | $ 49,985 |
Less debt issuance costs, net | 18 | 62 |
Grand total | 52,169 | 49,923 |
Less current portion | 38,265 | 33,371 |
Non-current portion | 13,904 | 16,552 |
Bank acceptance notes issued to vendors with a zero percent interest rate | 15,860 | 6,310 |
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | ||
Long-term debt | 1,941 | 4,262 |
Chailease Finance Co, Ltd. [Member] | Promissory Note 2 [Member] | ||
Long-term debt | 2,149 | 4,633 |
Paycheck Protection Program, CARES Act [Member] | ||
Long-term debt | 6,229 | 0 |
Revolving Credit Facility [Member] | Branch Banking and Trust Company [Member] | Third Amendment to Loan Agreement with BB and T [Member] | ||
Long-term debt | 18,700 | 20,000 |
Revolving Credit Facility [Member] | Taishin International Bank [Member] | Credit Facility [Member] | ||
Long-term debt | 0 | 3,336 |
Revolving Credit Facility [Member] | Far Eastern [Member] | ||
Long-term debt | 0 | 2,668 |
Revolving Credit Facility [Member] | Far Eastern [Member] | Credit Facility [Member] | ||
Long-term debt | 1,756 | 0 |
Revolving Credit Facility [Member] | China Merchants Bank Co, Ltd [Member] | ||
Long-term debt | 2,299 | 0 |
Revolving Credit Facility [Member] | SPD Bank [Member] | ||
Long-term debt | 11,603 | 7,919 |
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | ||
Long-term debt | $ 7,510 | $ 7,167 |
Note K - Notes Payable and Lo_5
Note K - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) (Parentheticals) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Mar. 05, 2019 | Mar. 30, 2018 | Sep. 28, 2017 | |
Chailease Finance Co, Ltd. [Member] | Promissory Note [Member] | ||||||
Long-term debt, interest | 3.50% | 3.50% | ||||
Long-term debt, maturity date | Jan. 21, 2022 | Jan. 21, 2022 | ||||
Chailease Finance Co, Ltd. [Member] | Promissory Note 2 [Member] | ||||||
Long-term debt, interest | 3.10% | 3.10% | ||||
Long-term debt, maturity date | Jan. 21, 2022 | Jan. 21, 2022 | ||||
Branch Banking and Trust Company [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 20,000,000 | $ 25,000,000 | $ 60,000,000 | $ 50,000,000 | ||
Far Eastern [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 2,668 | $ 2,668 | ||||
Long-term debt, interest | 1.70% | 1.70% | ||||
Long-term debt, maturity date | Apr. 11, 2020 | Apr. 11, 2020 | ||||
China Merchants Bank Co, Ltd [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 8,917,000 | $ 8,917,000 | ||||
Long-term debt, interest | 4.50% | 4.50% | ||||
Long-term debt, maturity date | Oct. 15, 2021 | Oct. 15, 2021 | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 25,449,000 | $ 25,449,000 | ||||
Long-term debt, maturity date | May 24, 2024 | May 24, 2024 | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | Minimum [Member] | ||||||
Long-term debt, interest | 3.01% | 3.01% | ||||
SPD Bank [Member] | Revolving Credit Facility [Member] | Maximum [Member] | ||||||
Long-term debt, interest | 4.57% | 4.57% | ||||
Third Amendment to Loan Agreement with BB and T [Member] | Branch Banking and Trust Company [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 20,000,000 | $ 20,000,000 | ||||
Long-term debt, interest | 1.50% | 1.50% | ||||
Long-term debt, maturity date | Apr. 2, 2021 | Apr. 2, 2021 | ||||
Paycheck Protection Program, CARES Act [Member] | ||||||
Long-term debt, interest | 1.00% | 1.00% | ||||
Long-term debt, maturity date | Apr. 16, 2022 | Apr. 16, 2022 | ||||
Credit Facility [Member] | Taishin International Bank [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 3,336,000 | $ 3,336,000 | ||||
Long-term debt, interest | 2.20% | 2.20% | ||||
Long-term debt, maturity date | Oct. 16, 2020 | Oct. 16, 2020 | ||||
Credit Facility [Member] | Far Eastern [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 3,436,000 | $ 3,436,000 | ||||
Long-term debt, interest | 2.20% | 2.20% | ||||
Long-term debt, maturity date | Jan. 31, 2021 | Jan. 31, 2021 | ||||
The ¥50M Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | Revolving Credit Facility [Member] | ||||||
Long-term debt, maximum | $ 7,167,000 | $ 7,167,000 | ||||
Long-term debt, interest | 5.70% | 5.70% | ||||
Long-term debt, maturity date | Jun. 20, 2022 | Jun. 20, 2022 |
Note K - Notes Payable and Lo_6
Note K - Notes Payable and Long-term Debt - Maturities of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 38,265 | |
2022 | 13,904 | |
Total outstanding | $ 52,169 | $ 49,923 |
Note L - Convertible Senior N_3
Note L - Convertible Senior Notes (Details Textual) - USD ($) | Mar. 05, 2019 | Dec. 31, 2020 |
Branch Banking and Trust Company [Member] | CapEx Loan and Term Loan [Member] | ||
Repayments of Long-term Debt, Total | $ 37,800,000 | |
The 5% Convertible Senior Notes Due 2024 [Member] | ||
Debt Instrument, Face Amount | $ 80,500,000 | $ 80,500,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |
Proceeds from Convertible Debt | $ 76,400,000 | |
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 56.9801 | |
Debt Conversion, Converted Instrument, Amount | $ 1,000 | |
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 17.55 | |
Debt Instrument, Convertible, Conversion Price Premium, Percentage | 30.00% | |
Share Price (in dollars per share) | $ 13.50 | |
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130.00% | |
Debt Instrument, Convertible, Threshold Trading Days | 20 | |
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 | |
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 100.00% | |
Debt Issuance Costs, Gross | $ 4,100,000 |
Note L - Convertible Senior N_4
Note L - Convertible Senior Notes - Schedule of Carrying Value of Convertible Senior Notes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 05, 2019 |
Net carrying amount | $ 77,854 | $ 77,041 | |
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Principal | 80,500 | $ 80,500 | |
Unamortized debt issuance costs | (2,646) | ||
Net carrying amount | $ 77,854 |
Note L - Convertible Senior N_5
Note L - Convertible Senior Notes - Schedule of Interest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization of debt issuance costs | $ 900 | $ 892 | $ 42 |
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Contractual interest expense | 4,025 | 3,276 | |
Amortization of debt issuance costs | 831 | 681 | |
Total interest cost | $ 4,856 | $ 3,957 | |
Effective interest rate | 5.10% | 5.10% |
Note M - Accrued Liabilities -
Note M - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accrued payroll | $ 10,517 | $ 11,009 |
Accrued employee benefits | 3,057 | 2,288 |
Accrued state and local taxes | 251 | 1,215 |
Accrued interest | 1,256 | 1,208 |
Advance payments | 303 | 312 |
Accrued product warranty | 703 | 821 |
Accrued commission expenses | 974 | 420 |
Accrued professional fees | 377 | 222 |
Accrued shipping and tariff expenses | 526 | 344 |
Accrued other | 547 | 25 |
Total accrued liabilities | $ 18,511 | $ 17,864 |
Note N - Other Income and Exp_3
Note N - Other Income and Expense - Other Income and Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Foreign exchange transaction gain | $ 1 | $ 20 | $ 663 |
Government subsidy income | 2,708 | 1,614 | 934 |
Other non-operating gain | 304 | 219 | 224 |
Loss on disposal of assets | (15) | (13) | (7) |
Total other income, net | $ 2,998 | $ 1,840 | $ 1,814 |
Note O - Income Taxes (Details
Note O - Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 37 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Nov. 30, 2011 | Dec. 31, 2017 | |
Deferred Tax Assets, Operating Loss Carryforwards, Total | $ 31,526 | $ 21,516 | |||
Deferred Tax Assets, in Process Research and Development | 9,008 | 8,264 | |||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 4,599 | 4,599 | |||
Deferred Tax Assets, Valuation Allowance, Total | 43,462 | 25,736 | $ 0 | $ 0 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 17,700 | $ 25,700 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | ||
Unrecognized Tax Benefits, Ending Balance | $ 181 | $ 181 | $ 181 | $ 181 | |
Income Tax Examination, Penalties and Interest Accrued, Total | 0 | 0 | 0 | ||
Tax Cuts and Jobs Act, Measurement Period Adjustment, Income Tax Expense (Benefit) | 5,000 | ||||
Global Technology, Inc. [Member] | |||||
Income Tax Holiday, Aggregate Dollar Amount | $ 1,400 | $ 1,000 | $ 500 | ||
Income Tax Holiday, Income Tax Benefits Per Share (in dollars per share) | $ 0.05 | $ 0.05 | $ 0.03 | ||
State Administration of Taxation, China [Member] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% | ||||
State Administration of Taxation, China [Member] | Global Technology, Inc. [Member] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 15.00% | ||||
TAIWAN, PROVINCE OF CHINA | |||||
Operating Loss Carryforwards, Total | $ 51,400 | ||||
Operating Loss Carryforwards, Carryforward Period (Year) | 10 years | ||||
CHINA | |||||
Operating Loss Carryforwards, Total | $ 16,000 | ||||
Operating Loss Carryforwards, Carryforward Period (Year) | 5 years | ||||
Domestic Tax Authority [Member] | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | $ 87,000 | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 32,700 | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 54,300 | ||||
Deferred Tax Assets, in Process Research and Development | $ 9,000 | ||||
Open Tax Year | 2017 2018 2019 | ||||
Foreign Tax Authority [Member] | |||||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $ 4,600 | ||||
Open Tax Year | 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 |
Note O - Income Taxes - Income
Note O - Income Taxes - Income (Loss) from Operations Before Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Domestic | $ (20,288) | $ (35,279) | $ (11,444) | ||||||||
Foreign | (30,936) | (16,108) | 1,666 | ||||||||
Total loss before income taxes | $ (13,435) | $ (7,367) | $ (11,576) | $ (18,846) | $ (13,163) | $ (10,720) | $ (14,557) | $ (12,948) | $ (51,224) | $ (51,387) | $ (9,778) |
Note O - Income Taxes - Provisi
Note O - Income Taxes - Provision for Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Federal | $ 41 | $ 0 | $ 0 | ||||||||
State | 2 | 16 | 80 | ||||||||
Foreign | 0 | 97 | 1,349 | ||||||||
Total | 43 | 113 | 1,429 | ||||||||
Federal | (172) | 16,375 | (6,391) | ||||||||
State | 0 | 1,716 | 61 | ||||||||
Foreign | 7,357 | (3,542) | (2,731) | ||||||||
Total | 7,185 | 14,549 | (9,061) | ||||||||
Income tax (benefit) expense | $ 4 | $ 2,249 | $ 7,024 | $ (2,049) | $ 22,267 | $ (1,940) | $ (3,191) | $ (2,474) | $ 7,228 | $ 14,662 | $ (7,632) |
Note O - Income Taxes - Net Def
Note O - Income Taxes - Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
NOL carryforward | $ 31,526 | $ 21,516 | ||
Inventory reserves | 2,241 | 2,385 | ||
AMT credit | 0 | 172 | ||
Unrealized gains and losses | 59 | 96 | ||
Share-based compensation | 618 | 528 | ||
Foreign tax credit | 4,599 | 4,599 | ||
Research and development credits | 9,008 | 8,264 | ||
Interest | 1,784 | 888 | ||
ASC 842 Assets | 1,671 | 1,641 | ||
Other | 784 | 520 | ||
Deferred tax assets | 52,290 | 40,609 | ||
Less valuation allowance | (43,462) | (25,736) | $ 0 | $ 0 |
Deferred tax assets, net | 8,828 | 14,873 | ||
Depreciation and amortization | (7,402) | (6,180) | ||
ASC 842 Liabilities | (1,426) | (1,406) | ||
Deferred tax liabilities | (8,828) | (7,586) | ||
Deferred tax assets (liabilities), net | $ 0 | $ 7,287 |
Note O - Income Taxes - Summary
Note O - Income Taxes - Summary of Valuation of Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 25,736 | $ 0 | $ 0 |
Change charged to expense/(income) | 17,137 | 25,736 | 0 |
Change charged to currency translation adjustment | 589 | 0 | 0 |
Balance | $ 43,462 | $ 25,736 | $ 0 |
Note O - Income Taxes - Reconci
Note O - Income Taxes - Reconciliation of the U.S. Federal Income Tax Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expected taxes at statutory rate | $ (10,775) | $ (10,791) | $ (2,053) | ||||||||
Non-deductible/non-taxable items | 1,132 | 962 | 1,020 | ||||||||
Foreign rate differences | 1,153 | 590 | (1,043) | ||||||||
Foreign permanent differences | (1,002) | (671) | (1,067) | ||||||||
Changes in valuation allowance | 17,137 | 25,736 | 0 | ||||||||
Share-based compensation | 426 | 607 | (1,325) | ||||||||
Changes in tax rates | 0 | 0 | (103) | ||||||||
Transition tax adjustment, net of foreign tax credits | 0 | (1,777) | |||||||||
Research and development credits | (744) | (1,616) | (2,022) | ||||||||
Alternative Minimum Tax | (172) | 0 | 0 | ||||||||
Foreign other | 12 | 27 | 514 | ||||||||
Other, net | 61 | (182) | 224 | ||||||||
Income tax (benefit) expense | $ 4 | $ 2,249 | $ 7,024 | $ (2,049) | $ 22,267 | $ (1,940) | $ (3,191) | $ (2,474) | $ 7,228 | $ 14,662 | $ (7,632) |
Note O - Income Taxes - Unrecog
Note O - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecognized tax benefits | $ 181 | $ 181 | $ 181 |
Gross increases — tax positions in prior period | 0 | 0 | 0 |
Gross decreases — tax positions in prior period | 0 | 0 | 0 |
Unrecognized tax benefits | $ 181 | $ 181 | $ 181 |
Note P - Share-based Compensa_3
Note P - Share-based Compensation (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 |
Share-based Payment Arrangement, Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Share-based Payment Arrangement, Option [Member] | Exercisable on the First Anniversary Date Following the Date of Grant [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% |
Restricted Stock Awards and Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 11,300 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 16,900 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 4 months 6 days |
Note P - Share-based Compensa_4
Note P - Share-based Compensation - Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding, number of shares (in shares) | 281 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.32 | |
Outstanding, weighted average fair value (in dollars per share) | $ 5.41 | $ 5.32 |
Outstanding, weighted average remaining contractual life (Year) | 2 years 8 months 1 day | 3 years 7 months 13 days |
Outstanding, aggregate intrinsic value | $ 54 | $ 573 |
Exercised, number of shares (in shares) | (5) | |
Exercised, weighted average exercise price (in dollars per share) | $ 6 | |
Exercised, weighted average share price on date of exercise (in dollars per share) | $ 10.77 | |
Exercised, aggregate intrinsic value | $ 24 | |
Forfeited (in shares) | 0 | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0 | |
Forfeited, weighted average fair value (in dollars per share) | $ 0 | |
Forfeited, aggregate intrinsic value | $ 0 | |
Outstanding, number of shares (in shares) | 276 | 281 |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.29 | $ 5.32 |
Exercisable, number of shares (in shares) | 281 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 10.21 | |
Exercisable, weighted average remaining contractual life (Year) | 2 years 8 months 1 day | |
Exercisable, aggregate intrinsic value | $ 54 | |
Vested and expected to vest, number of shares (in shares) | 276 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 10.29 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 2 years 8 months 1 day | |
Vested and expected to vest, aggregate intrinsic value | $ 54 |
Note P - Share-based Compensa_5
Note P - Share-based Compensation - Restricted Stock Unit/Awards Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding, number of shares (in shares) | 770 | |
Outstanding, weighted average fair value (in dollars per share) | $ 14.97 | $ 25.18 |
Outstanding, aggregate intrinsic value | $ 11,279 | $ 9,143 |
Granted, number of shares (in shares) | 1,201 | |
Granted, weighted average fair value (in dollars per share) | $ 11.39 | |
Granted, aggregate intrinsic value | $ 13,677 | |
Released, number of shares (in shares) | (605) | |
Released, weighted average share price on date of release (in dollars per share) | $ 20.83 | |
Released, weighted average fair value (in dollars per share) | $ 20.83 | |
Released, aggregate intrinsic value | $ 6,911 | |
Cancelled/Forfeited, number of shares (in shares) | (40) | |
Cancelled/Forfeited, weighted average fair value (in dollars per share) | $ 15.27 | |
Cancelled/Forfeited, aggregate intrinsic value | $ 342 | |
Outstanding, number of shares (in shares) | 1,325 | |
Vested and expected to vest, number of shares (in shares) | 1,325 | |
Vested and expected to vest, weighted average fair value (in dollars per share) | $ 14.97 | |
Vested and expected to vest, aggregate intrinsic value | $ 11,279 |
Note P - Share-based Compensa_6
Note P - Share-based Compensation - Share-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Total share-based compensation expense | $ 13,046 | $ 11,804 | $ 11,120 |
Share-based Payment Arrangement, Option [Member] | |||
Total share-based compensation expense | 0 | 0 | 12 |
Restricted Stock Units (RSUs) [Member] | |||
Total share-based compensation expense | 13,046 | 11,804 | 11,108 |
Employee Stock Options And Restricted Stock Units [Member] | |||
Total share-based compensation expense | 13,046 | 11,804 | 11,120 |
Cost of Sales [Member] | |||
Total share-based compensation expense | 937 | 772 | 795 |
Research and Development Expense [Member] | |||
Total share-based compensation expense | 2,812 | 2,557 | 2,419 |
Selling and Marketing Expense [Member] | |||
Total share-based compensation expense | 1,191 | 1,070 | 925 |
General and Administrative Expense [Member] | |||
Total share-based compensation expense | $ 8,106 | $ 7,405 | $ 6,981 |
Note Q - Stockholders' Equity (
Note Q - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 24, 2019 | Mar. 31, 2017 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 28, 2020 | Oct. 17, 2016 |
Common Stock, Shares Authorized (in shares) | 45,000,000 | 45,000,000 | |||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | |||||
Proceeds from Issuance of Common Stock | $ 39,203 | $ 0 | $ 0 | ||||
Stock Offering, Maximum Value, New Issues | $ 250,000 | ||||||
Second ATM Offering [Member] | |||||||
Common Stock, Maximum Amount to be Sold | $ 250,000 | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,600,000 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 31.55 | ||||||
Proceeds from Issuance of Common Stock | $ 48,800 | ||||||
Second ATM Offering [Member] | Raymond James & Associates, Inc. [Member] | |||||||
Common Stock, Maximum Amount to be Sold | $ 50,000 | ||||||
Third ATM Offering [Member] | Raymond James & Associates, Inc. [Member] | |||||||
Common Stock, Maximum Amount to be Sold | $ 55,000 | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,500,000 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 9 | ||||||
Proceeds from Issuance of Common Stock | $ 39,400 |
Note R - Segment and Geograph_3
Note R - Segment and Geographic Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Number of Reportable Segments | 1 | ||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 52,326 | $ 76,608 | $ 65,222 | $ 40,467 | $ 48,658 | $ 46,084 | $ 43,411 | $ 52,719 | $ 234,623 | $ 190,872 | $ 267,465 |
Percentage of Revenue | 100.00% | 100.00% | 100.00% | ||||||||
Data Center [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 173,437 | $ 143,562 | $ 200,236 | ||||||||
Percentage of Revenue | 73.90% | 75.20% | 74.90% | ||||||||
CATV [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 37,944 | $ 37,328 | $ 51,699 | ||||||||
Percentage of Revenue | 16.20% | 19.60% | 19.30% | ||||||||
Telecom [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 21,092 | $ 8,429 | $ 13,159 | ||||||||
Percentage of Revenue | 9.00% | 4.40% | 4.90% | ||||||||
FTTH [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 110 | $ 190 | $ 818 | ||||||||
Percentage of Revenue | 0.00% | 0.10% | 0.30% |
Note R - Segment and Geograph_4
Note R - Segment and Geographic Information - Revenue Information by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue, net | $ 52,326 | $ 76,608 | $ 65,222 | $ 40,467 | $ 48,658 | $ 46,084 | $ 43,411 | $ 52,719 | $ 234,623 | $ 190,872 | $ 267,465 |
UNITED STATES | |||||||||||
Revenue, net | 18,380 | 9,795 | 10,795 | ||||||||
TAIWAN, PROVINCE OF CHINA | |||||||||||
Revenue, net | 131,076 | 97,776 | 113,547 | ||||||||
CHINA | |||||||||||
Revenue, net | $ 85,167 | $ 83,301 | $ 143,123 |
Note R - Segment and Geograph_5
Note R - Segment and Geographic Information - Asset Information by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Long-lived assets | $ 270,654 | $ 266,010 | $ 244,002 |
UNITED STATES | |||
Long-lived assets | 90,999 | 94,507 | 88,815 |
TAIWAN, PROVINCE OF CHINA | |||
Long-lived assets | 71,080 | 73,816 | 65,451 |
CHINA | |||
Long-lived assets | $ 108,575 | $ 97,687 | $ 89,736 |
Note S - Employee Benefit Pla_2
Note S - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0.8 | $ 0.8 | $ 0.8 |
Global Technology, Inc. [Member] | |||
Pension and Other Postretirement Benefits Cost (Reversal of Cost), Total | 1.2 | 0.7 | 0.9 |
Prime World International Holdings, Ltd. (“Prime World”) [Member] | Foreign Plan [Member] | |||
Pension and Other Postretirement Benefits Cost (Reversal of Cost), Total | $ 0.8 | $ 0.8 | $ 0.9 |
Note T - Commitments and Cont_3
Note T - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Leases, Rent Expense, Net, Total | $ 1.4 | $ 1.3 | $ 1.1 |
Loss Contingency, Damages Sought, Value | $ 15.5 |
Note T - Commitments and Cont_4
Note T - Commitments and Contingencies - Minimum Rental Commitments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 1,356 |
2022 | 1,350 |
2023 | 1,308 |
2024 | 1,247 |
2025 | 1,273 |
thereafter | 4,190 |
Operating Leases, Future Minimum Payments Due, Total | $ 10,724 |
Note U - Subsequent Events (Det
Note U - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Repayments of Lines of Credit | $ 96,006 | $ 88,299 | $ 165,569 | |
Proceeds from Issuance of Common Stock | $ 39,203 | $ 0 | $ 0 | |
Subsequent Event [Member] | ATM Offering [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 1.5 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 10.20 | |||
Proceeds from Issuance of Common Stock | $ 14,500 | |||
Branch Banking and Trust Company [Member] | Revolving Credit Facility [Member] | Fourth Amendment to Loan Agreement with BB and T [Member] | Subsequent Event [Member] | ||||
Repayments of Lines of Credit | $ 17,800 |
Note V - Selected Quarterly F_3
Note V - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 52,326 | $ 76,608 | $ 65,222 | $ 40,467 | $ 48,658 | $ 46,084 | $ 43,411 | $ 52,719 | $ 234,623 | $ 190,872 | $ 267,465 |
Cost of goods sold | 41,049 | 57,418 | 51,486 | 34,129 | 37,322 | 34,108 | 32,873 | 40,368 | 184,082 | 144,671 | 179,692 |
Gross profit | $ 11,277 | $ 19,190 | $ 13,736 | $ 6,338 | $ 11,336 | $ 11,976 | $ 10,538 | $ 12,351 | 50,541 | 46,201 | 87,773 |
Gross margin | 21.60% | 25.00% | 21.10% | 15.70% | 23.30% | 26.00% | 24.30% | 23.40% | |||
Research and development | $ 10,826 | $ 11,206 | $ 10,803 | $ 10,558 | $ 10,597 | $ 10,466 | $ 11,151 | $ 11,185 | 43,393 | 43,399 | 49,903 |
Sales and marketing | 3,230 | 4,491 | 3,430 | 2,936 | 2,615 | 2,518 | 2,331 | 2,595 | 14,087 | 10,060 | 9,141 |
General and administrative | 10,382 | 10,272 | 10,611 | 10,638 | 10,178 | 9,988 | 10,884 | 10,440 | 41,903 | 41,489 | 39,497 |
Total operating expenses | 24,438 | 25,969 | 24,844 | 24,132 | 23,390 | 22,972 | 24,366 | 24,220 | 99,383 | 94,948 | 98,541 |
Loss from operations | (13,161) | (6,779) | (11,108) | (17,794) | (12,054) | (10,996) | (13,828) | (11,869) | (48,842) | (48,747) | (10,768) |
Interest and other expense, net | (274) | (588) | (468) | (1,052) | (1,109) | 276 | (729) | (1,079) | (2,382) | (2,640) | 990 |
Total loss before income taxes | (13,435) | (7,367) | (11,576) | (18,846) | (13,163) | (10,720) | (14,557) | (12,948) | (51,224) | (51,387) | (9,778) |
Income tax (expense) benefit | (4) | (2,249) | (7,024) | 2,049 | (22,267) | 1,940 | 3,191 | 2,474 | (7,228) | (14,662) | 7,632 |
Net loss | $ (13,439) | $ (9,616) | $ (18,600) | $ (16,797) | $ (35,430) | $ (8,780) | $ (11,366) | $ (10,474) | $ (58,452) | $ (66,049) | $ (2,146) |
Net loss per share—basic (in dollars per share) | $ (0.57) | $ (0.42) | $ (0.89) | $ (0.83) | $ (1.76) | $ (0.44) | $ (0.57) | $ (0.53) | $ (2.67) | $ (3.31) | $ (0.11) |
Net loss per share—diluted (in dollars per share) | $ (0.57) | $ (0.42) | $ (0.89) | $ (0.83) | $ (1.76) | $ (0.44) | $ (0.57) | $ (0.53) | $ (2.67) | $ (3.31) | $ (0.11) |