Mocon (MOCO) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	MOCON INC
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		5,748,959
Amendment Flag	FALSE
Entity Central Index Key	67279
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$5,300	$6,332
Trade accounts receivable, less allowance for doubtful accounts of $149 in 2015 and $181 in 2014	9,350	9,877
Other receivables	198	148
Inventories	8,934	8,705
Prepaid income taxes	530	771
Prepaid expenses, other	1,034	902
Deferred income taxes	1,348	766
Other current assets	178
Total current assets	26,872	27,501
Property, plant and equipment, net of accumulated depreciation of $7,753 in 2015 and $7,874 in 2014	5,744	5,562
Goodwill	7,402	8,147
Intangible assets, net	9,718	10,831
Other assets	184	194
Deferred income taxes		274
TOTAL ASSETS	49,920	52,509
Current liabilities:
Current maturities of notes payable	969	983
Revolving lines of credit	3,285	3,300
Accounts payable	3,401	4,402
Accrued compensation and related expenses	3,429	4,120
Other accrued expenses	1,269	731
Accrued product warranties	354	285
Dividends payable	632	631
Deferred revenue	1,840	997
Total current liabilities	15,179	15,449
Notes payable	87	307
Obligations to former employees	60	67
Deferred income taxes	1,930	1,856
Accrued income taxes	361	357
Total noncurrent liabilities	2,438	2,587
Total liabilities	17,617	18,036
Shareholders' equity:
Capital stock – undesignated. Authorized 3,000,000 shares; none issued and outstanding in 2015 and 2014
Common stock – $0.10 par value. Authorized 22,000,000 shares; issued and outstanding 5,747,484 shares in 2015 and 5,732,505 shares in 2014	575	573
Additional paid-in capital	6,694	6,427
Retained earnings	30,539	30,265
Accumulated other comprehensive loss	-5,505	-2,792
Total shareholders' equity	32,303	34,473
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$49,920	$52,509

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Trade accounts receivable, allowance for doubtful accounts (in Dollars)	$149	$181
Property, plant and equipment, accumulated depreciation (in Dollars)	$7,753	$7,874
Capital stock, authorized shares	3,000,000	3,000,000
Capital stock, shares issued	0	0
Capital stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.10	$0.10
Common stock, authorized	22,000,000	22,000,000
Common stock, shares issued	5,747,484	5,732,505
Common stock, shares outstanding	5,747,484	5,732,505

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Products	$12,169	$11,841
Services	2,504	2,801
Consulting	687	671
Total revenue	15,360	15,313
Cost of revenue:
Products	5,281	5,442
Services	1,053	1,025
Consulting	547	457
Total cost of revenue	6,881	6,924
Gross profit	8,479	8,389
Selling, general and administrative expenses	6,271	6,143
Research and development expenses	1,069	1,125
Operating income	1,139	1,121
Other income (expense), net	251	-57
Income before income taxes	1,390	1,064
Income tax expense	482	334
Net income	$908	$730
Net income per common share:
Basic (in Dollars per share)	$0.16	$0.13
Diluted (in Dollars per share)	$0.16	$0.13
Weighted average common shares outstanding:
Basic (in Shares)	5,742	5,641
Diluted (in Shares)	5,837	5,778
Cash dividends declared per common share (in Dollars per share)	$0.11	$0.11

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net income	$908	$730
Other comprehensive loss:
Cumulative translation adjustment	-2,713	-48
Comprehensive income (loss)	($1,805)	$682

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$908	$730
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	161	143
Change in fair value of derivative instrument	11	4
(Gain)/Loss on disposition of long-term assets	6	-57
Depreciation and amortization	605	628
Deferred income taxes	-59	-77
Excess tax benefit from employee stock plans	-1	-2
Changes in operating assets and liabilities:
Trade accounts receivable, net	-209	889
Other receivables	-66	-119
Inventories	-441	-343
Prepaid income taxes	237	140
Prepaid expenses, other	-122	208
Accounts payable	-1,312	-536
Accrued compensation and related expenses	-464	-344
Other accrued expenses	312	143
Accrued product warranties	83	-13
Accrued income taxes	255	66
Deferred revenue	890	508
Net cash provided by operating activities	794	1,968
Cash flows from investing activities:
Proceeds from maturities of marketable securities		205
Purchases of property, plant and equipment	-458	-335
Proceeds from sale of property and equipment	9	76
Cash paid for patents and other intangible assets	-51	-47
Other	-1
Net cash used in investing activities	-501	-101
Cash flows from financing activities:
Proceeds from the revolving lines of credit	5,843	6,387
Payments on the revolving lines of credit	-5,858	-7,196
Payments on notes payable and seller financed note payable	-232	-225
Proceeds from the exercise of stock options	106	123
Excess tax benefit from employee stock plans	1	2
Dividends paid	-632	-621
Net cash used in financing activities	-772	-1,530
Effect of exchange rate changes on cash and cash equivalents	-553	-8
Net (decrease) increase in cash and cash equivalents	-1,032	329
Cash and cash equivalents:
Beginning of period	6,332	4,133
End of period	5,300	4,462
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes	114	180
Cash paid during the period for interest	9	41
Supplemental schedule of noncash investing and financing activities:
Dividends accrued	632	622
Purchases of prepaid expenses, fixed assets and intangibles in accounts payable	470	564
Purchases of fixed assets from inventory	$10

Note_1_Condensed_Consolidated_

Note 1 - Condensed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Note 1 – Condensed Consolidated Financial Statements
	The condensed consolidated balance sheets as of March 31, 2015, the condensed consolidated statements of income and comprehensive income (loss), for the three-month periods ended March 31, 2015 and 2014 have been prepared in accordance with accounting principles generally accepted in the United States of America. These interim unaudited condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to fairly present the financial position, results of operations and cash flows at March 31, 2015, and for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.
	The results of operations for the three-month period ended March 31, 2015 are not necessarily indicative of operating results for the full year. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, previously filed with the Securities and Exchange Commission.
	MOCON Inc. and its subsidiaries, develops, manufacturers and markets measurement, analytical, monitoring and consulting services for customers in the barrier packaging, food, pharmaceutical, consumer products, industrial hygiene, environmental, air quality monitoring, oil and gas exploration and other industries throughout the world.
	We report our operating segments as Permeation Products and Services (“Permeation”), Package Testing Products and Services (“Package Testing”), and Industrial Analyzers Products and Services and Other (“Industrial Analyzers and Other”) for financial reporting purposes.
	Principles of Consolidation
	The consolidated financial statements include our accounts and our wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.

Note_2_Inventories

Note 2 - Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 2 – Inventories
	Inventories consist of the following (expressed in thousands):
		March 31,		December 31,
		2015		2014
	Finished products	$	1,448	$	1,628
	Work-in-process		3,061		2,574
	Raw materials		4,425		4,503
		$	8,934	$	8,705

Note_3_Net_Income_Per_Common_S

Note 3 - Net Income Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 3 – Net Income Per Common Share
	Basic net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per common share is computed using the treasury stock method to compute the weighted average common stock outstanding assuming the conversion of potential dilutive common shares.
	The following table presents a reconciliation of the denominators used in the computation of net income per common share – basic, and net income per common share – diluted, for the three-month periods ended March 31, 2015 and 2014 (expressed in thousands):
		Three Months Ended March 31,
		2015		2014
	Weighted shares of common stock outstanding - basic		5,742		5,641
	Dilutive impact of share-based awards		95		137
	Weighted shares of common stock outstanding - diluted		5,837		5,778
	Outstanding stock options totaling 145,200 for the three-month period ended March 31, 2015 were excluded from the net income per common share calculation because the shares would be anti-dilutive. There were no anti-dilutive options at March 31, 2014.

Note_4_Goodwill_and_Intangible

Note 4 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4 – Goodwill and Intangible Assets
	The changes in the carrying amount of goodwill for the three-month period ended March 31, 2015 were as follows (expressed in thousands):
		Package						Industrial
		Testing			Permeation			Analyzers & Other		Total
	Balance as of December 31, 2014	$	5,508		$	2,029		$	610	$	8,147
	Foreign currency translation		(566	)		(179	)		-		(745	)
	Balance as of March 31, 2015	$	4,942		$	1,850		$	610	$	7,402
	We test goodwill for impairment annually at the reporting unit level using a fair value approach. We will perform our annual impairment test for goodwill in the fourth quarter.
	Other intangible assets (all of which are being amortized except projects in process) are as follows (expressed in thousands):
		As of March 31, 2015
					Accumulated
		Cost			Amortization			Net
	Patents	$	1,812		$	(431	)	$	1,381
	Trademarks and trade names		3,293			(634	)		2,659
	Developed technology		6,088			(2,029	)		4,059
	Customer relationships		712			(237	)		475
	Internally developed software		1,085			(73	)		1,012
	Other intangibles		255			(123	)		132
		$	13,245		$	(3,527	)	$	9,718
		As of December 31, 2014
					Accumulated
		Cost			Amortization			Net
	Patents	$	1,719		$	(416	)	$	1,303
	Trademarks and trade names		3,676			(644	)		3,032
	Developed technology		6,843			(2,091	)		4,752
	Customer relationships		800			(245	)		555
	Internally developed software		1,085			(46	)		1,039
	Other intangibles		255			(105	)		150
		$	14,378		$	(3,547	)	$	10,831
	Total amortization expense for the three-month periods ended March 31, 2015 and 2014 was $289,000 and $321,000, respectively. Projects in process are not amortized until the patent or trademark is granted by the regulatory agency or the asset is ready for use. Estimated amortization expense for the remainder of 2015 and each of the four succeeding fiscal years and thereafter based on the intangible assets as of March 31, 2015 is as follows (expressed in thousands):
	2015	$	867
	2016		1,137
	2017		1,103
	2018		1,072
	2019		1,071
	2020 & Thereafter		3,754
		$	9,004

Note_5_Accumulated_Other_Compr

Note 5 - Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Note 5 – Accumulated Other Comprehensive Income (Loss)
	Adjustments to accumulated other comprehensive income (loss) consist of the following (expressed in thousands):
		Three Months Ended
		March 31,
		2015			2014
	Beginning balance	$	(2,792	)	$	613
	Foreign currency translation adjustments		(2,713	)		(48	)
	Amounts reclassified to earnings		-			-
	Accumulated other comprehensive income (loss)	$	(5,505	)	$	565

Note_6_Warranty

Note 6 - Warranty	3 Months Ended
	Mar. 31, 2015
Product Warranties Disclosures [Abstract]
Product Warranty Disclosure [Text Block]	Note 6 – Warranty
	We provide a warranty for most of our products. Warranties are for periods ranging from ninety days to one year, and cover parts and labor for non-maintenance repairs, at our location. Operator abuse, improper use, alteration, damage resulting from accident, or failure to follow manufacturer’s directions are excluded from warranty coverage.
	Warranty expense is accrued at the time of sale based on historical claims experience. Warranty reserves are also accrued for special rework campaigns for known major product modifications. We also offer extended warranty service contracts for select products when the factory warranty period expires.
	Warranty provisions and claims for the three-month periods ended March 31, 2015 and 2014 were as follows (expressed in thousands):
		Three Months Ended
		March 31,
		2015			2014
	Beginning balance	$	285		$	335
	Warranty provisions		200			71
	Warranty claims		(131	)		(84	)
	Ending Balance	$	354		$	322

Note_7_Debt

Note 7 - Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 7 – Debt
	Notes payable consists of the following (expressed in thousands):
		31-Mar-15		31-Dec-14
	Note payable to bank, with interest at 3.46%, payable in monthly principal installments of $73 plus interest through March 28, 2016, collateralized by our assets with the exception of the Dansensor A/S (a wholly owned subsidiary) stock.	$	948	$	1,166
	Seller financed note payable (Seller Note), with interest at 3.46%, payable in semi-annual principal and interest payments totaling $891 beginning October 2, 2012 through October 10, 2014 with one final payment of $85 on April 2, 2015, collateralized by 65% of the outstanding stock of Dansensor A/S.		85		95
	Capital leases		23		29
	Total long-term notes payable		1,056		1,290
	Less current portion of long-term notes payable		969		983
	Total long-term notes payable	$	87	$	307
	In the U.S., we have a $6.0 million secured revolving line of credit with a maturity date of March 28, 2016. On January 13, 2015, we entered into the third amendment to the Credit Agreement which maintained the available principal on the line at $6.0 million effective December 31, 2014 to the maturity date. Interest is charged monthly at one-month LIBOR (0.25 percent) plus 1.75 basis points which totaled 2.00 percent at March 31, 2015 and December 31, 2014. The line of credit is secured by our assets with the exception of the outstanding stock of Dansensor. We had $3.3 million outstanding on the line of credit at March 31, 2015 and December 31, 2014. Additionally, Dansensor has a DKK 10 million (approximately $1.5 million) available line of credit of which no amounts were outstanding as of March 31, 2015 and December 31, 2014. Outstanding borrowings on the Denmark line of credit are charged interest at 4.35 percent per year.
	We are subject to various financial and restrictive covenants in the bank Credit Agreement, including maintaining certain financial ratios and limits on incurring additional indebtedness, making capital and lease expenditures and making share repurchases. We are in compliance with our debt covenants at March 31, 2015 and expect to remain in compliance through the next twelve months.
	On June 28, 2012, we entered into the first amendment to the Seller Note (the Amendment). The Amendment called for two prepayments of DKK 6.5 million (approximately $1.1 million) each, which were paid on June 29, 2012 and July 30, 2012. As a result of the prepayments, the maturity date of the Seller Note was revised to April 2, 2015 and the collateral securing the repayment of the Seller Note was changed from 100 percent to 65 percent of the common stock of Dansensor.
	The carrying value of the Seller Note is adjusted for foreign currency translation at each reporting period and the change in value is included in other expense in the condensed consolidated statements of income.
	As of March 31, 2015, the future minimum principal payments of the notes payable for the remainder of 2015 and each of the three succeeding fiscal years are as follows (expressed in thousands):
	2015	$	751
	2016		303
	2017		2
		$	1,056

Note_8_Income_Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 8 – Income Taxes
	Our provision for income tax expense was 34.7 percent and 31.4 percent of income before income taxes for the first quarter ended March 31, 2015 and 2014, respectively. The rate for first quarters 2015 and 2014 was lower than the statutory rate due primarily to the effect of foreign operations where tax rates tend to be lower as well as the domestic manufacturing deduction.
	As of March 31, 2015 and December 31, 2014, the liability for gross unrecognized tax benefits was $361,000 and $357,000, respectively. Changes in gross unrecognized tax benefits during the three-months ended March 31, 2015 were for interest accrued during the first quarter. It is expected that the amount of unrecognized tax benefits for positions which we have identified will not materially change in the next twelve months.

Note_9_Sharebased_Compensation

Note 9 - Share-based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 9 – Share-Based Compensation
	As of March 31, 2015, we have reserved 8,939 shares of common stock for options and other share-based incentive awards that are still available for grant under our 2006 stock incentive plan, and 687,200 shares for options that have been granted under either the 2006 stock incentive plan or the 1998 stock option plan but have not yet been exercised. We issue new shares of common stock upon exercise of stock options.
	Amounts recognized in the condensed consolidated financial statements related to share-based compensation are as follows (expressed in thousands):
		Three Months Ended March 31,
		2015			2014
	Total cost of share-based compensation	$	161		$	143
	Amount of income tax benefit recognized in earnings		(21	)		(21	)
	Amount charged against net income	$	140		$	122
	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model (Black-Scholes). We use historical data to estimate the expected price volatility, expected option life and expected forfeiture rate. Our estimates are based on expected volatility for awards granted on daily historical trading data of our common stock for a period equivalent to the expected term of the award.
	The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. We estimate the expected term consistent with historical exercise and cancellation activity of its previous share-based grants with a seven year contractual term. Forfeitures are based on historical experience. The dividend yield is calculated based upon the dividend payments made during the prior four quarters as a percent of the average stock price for that period.
	A summary of the option activity for the first three months of 2015 is as follows (expressed in thousands, except share and per share amounts):
								Weighted
					Weighted			Average		Aggregate
					Average			Remaining		Intrinsic
					Exercise			Contractual		Value
		Shares			Price			Term		(in thousands)
	Options outstanding, December 31, 2014		722,675		$	14.35			4.58	$	2,555
	Granted		-			-
	Exercised		(30,850	)		12.3
	Cancelled or expired		(4,625	)		16.22
	Options outstanding, March 31, 2015		687,200		$	14.43			4.37	$	1,619
	Options exercisable, March 31, 2015		480,675		$	13.48			3.61	$	1,525
	The total intrinsic value of options exercised was $142,000 and $228,000 during the three-month periods ended March 31, 2015 and 2014, respectively.
	A summary of the status of our unvested option shares as of March 31, 2015 is as follows:
					Weighted
					Average
		Number of			Grant Date
		Shares			Fair Value
	Unvested at December 31, 2014		227,400		$	4.35
	Options granted		-			-
	Options cancelled		(4,625	)	$	3.72
	Options vested		(16,250	)	$	5.41
	Unvested at March 31, 2015		206,525		$	4.29
	As of March 31, 2015, there was $796,000 of total unrecognized compensation cost related to unvested share-based compensation granted under our plans. That cost is expected to be recognized over a weighted-average period of 1.1 years. The total fair value of option shares vested during the three-month periods ended March 31, 2015 and 2014 was $88,000 and $77,000, respectively.

Note_10_Business_Segments

Note 10 - Business Segments	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 10 – Business Segments
	We have four operating segments, structured by differences in products and services, that are regularly reviewed by our chief operating decision maker to make decisions about allocating resources and assessing segment performance. The segment performance is evaluated at segment operating income which is defined as gross profit less selling, general and administrative expenses and research and development expenses. General corporate expenses, including costs associated with various support functions such as human resources, information technology, finance and accounting, and general and administrative costs, are allocated to the reportable segments primarily on the basis of segment gross margin. Our four operating segments have been aggregated into three reportable segments. We aggregated our Other Products and Services operating segment into the Industrial Analyzers Products and Services segment based on minimal business activity and materiality.
	The Permeation segment includes instruments and services that measure the rate at which various gases and vapors permeate through a variety of materials. The Package Testing segment provides customers with the ability to assess package performance, shelf-life, package improvement, cost reduction, sustainability and product safety using Modified Atmosphere Packaging and other technologies. The Industrial Analyzers and Other segment includes advanced gas analysis and monitoring instrumentation used in applications such as oil and gas exploration, beverage and specialty gas analysis, industrial hygiene and safety, food safety, environmental air monitoring and homeland security.
	The accounting policies of the reportable segments are the same as those described in Note 1 to the Consolidated Financial Statements found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Intersegment revenue for the three-month periods ended March 31, 2015 and 2014 were insignificant.
	Financial information by reportable segment for the three-month periods ended March 31, 2015 and 2014 is as follows (expressed in thousands):
		Three Months Ended March 31, 2015					Three Months Ended March 31, 2014
		Revenue		Operating Income (loss)			Revenue		Operating Income
	Permeation	$	6,102	$	678		$	5,849	$	1,014
	Package Testing		6,756		887			6,624		51
	Industrial Analyzers and Other		2,502		(426	)		2,840		56
	Total	$	15,360	$	1,139		$	15,313	$	1,121

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
	The consolidated financial statements include our accounts and our wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.

Note_2_Inventories_Tables

Note 2 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]		March 31,		December 31,
		2015		2014
	Finished products	$	1,448	$	1,628
	Work-in-process		3,061		2,574
	Raw materials		4,425		4,503
		$	8,934	$	8,705

Note_3_Net_Income_Per_Common_S1

Note 3 - Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]		Three Months Ended March 31,
		2015		2014
	Weighted shares of common stock outstanding - basic		5,742		5,641
	Dilutive impact of share-based awards		95		137
	Weighted shares of common stock outstanding - diluted		5,837		5,778

Note_4_Goodwill_and_Intangible1

Note 4 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]		Package						Industrial
		Testing			Permeation			Analyzers & Other		Total
	Balance as of December 31, 2014	$	5,508		$	2,029		$	610	$	8,147
	Foreign currency translation		(566	)		(179	)		-		(745	)
	Balance as of March 31, 2015	$	4,942		$	1,850		$	610	$	7,402
Schedule of Finite-Lived Intangible Assets [Table Text Block]		As of March 31, 2015
					Accumulated
		Cost			Amortization			Net
	Patents	$	1,812		$	(431	)	$	1,381
	Trademarks and trade names		3,293			(634	)		2,659
	Developed technology		6,088			(2,029	)		4,059
	Customer relationships		712			(237	)		475
	Internally developed software		1,085			(73	)		1,012
	Other intangibles		255			(123	)		132
		$	13,245		$	(3,527	)	$	9,718
		As of December 31, 2014
					Accumulated
		Cost			Amortization			Net
	Patents	$	1,719		$	(416	)	$	1,303
	Trademarks and trade names		3,676			(644	)		3,032
	Developed technology		6,843			(2,091	)		4,752
	Customer relationships		800			(245	)		555
	Internally developed software		1,085			(46	)		1,039
	Other intangibles		255			(105	)		150
		$	14,378		$	(3,547	)	$	10,831
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2015	$	867
	2016		1,137
	2017		1,103
	2018		1,072
	2019		1,071
	2020 & Thereafter		3,754
		$	9,004

Note_5_Accumulated_Other_Compr1

Note 5 - Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]		Three Months Ended
		March 31,
		2015			2014
	Beginning balance	$	(2,792	)	$	613
	Foreign currency translation adjustments		(2,713	)		(48	)
	Amounts reclassified to earnings		-			-
	Accumulated other comprehensive income (loss)	$	(5,505	)	$	565

Note_6_Warranty_Tables

Note 6 - Warranty (Tables)	3 Months Ended
	Mar. 31, 2015
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]		Three Months Ended
		March 31,
		2015			2014
	Beginning balance	$	285		$	335
	Warranty provisions		200			71
	Warranty claims		(131	)		(84	)
	Ending Balance	$	354		$	322

Note_7_Debt_Tables

Note 7 - Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]		31-Mar-15		31-Dec-14
	Note payable to bank, with interest at 3.46%, payable in monthly principal installments of $73 plus interest through March 28, 2016, collateralized by our assets with the exception of the Dansensor A/S (a wholly owned subsidiary) stock.	$	948	$	1,166
	Seller financed note payable (Seller Note), with interest at 3.46%, payable in semi-annual principal and interest payments totaling $891 beginning October 2, 2012 through October 10, 2014 with one final payment of $85 on April 2, 2015, collateralized by 65% of the outstanding stock of Dansensor A/S.		85		95
	Capital leases		23		29
	Total long-term notes payable		1,056		1,290
	Less current portion of long-term notes payable		969		983
	Total long-term notes payable	$	87	$	307
Schedule of Maturities of Long Term Debt and Future Minimum Payments Under Capital Leases [Table Text Block]	2015	$	751
	2016		303
	2017		2
		$	1,056

Note_9_Sharebased_Compensation1

Note 9 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]		Three Months Ended March 31,
		2015			2014
	Total cost of share-based compensation	$	161		$	143
	Amount of income tax benefit recognized in earnings		(21	)		(21	)
	Amount charged against net income	$	140		$	122
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]								Weighted
					Weighted			Average		Aggregate
					Average			Remaining		Intrinsic
					Exercise			Contractual		Value
		Shares			Price			Term		(in thousands)
	Options outstanding, December 31, 2014		722,675		$	14.35			4.58	$	2,555
	Granted		-			-
	Exercised		(30,850	)		12.3
	Cancelled or expired		(4,625	)		16.22
	Options outstanding, March 31, 2015		687,200		$	14.43			4.37	$	1,619
	Options exercisable, March 31, 2015		480,675		$	13.48			3.61	$	1,525
Schedule of Share-based Compensation Stock Options Unvested Activity [Table Text Block]					Weighted
					Average
		Number of			Grant Date
		Shares			Fair Value
	Unvested at December 31, 2014		227,400		$	4.35
	Options granted		-			-
	Options cancelled		(4,625	)	$	3.72
	Options vested		(16,250	)	$	5.41
	Unvested at March 31, 2015		206,525		$	4.29

Note_10_Business_Segments_Tabl

Note 10 - Business Segments (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]		Three Months Ended March 31, 2015					Three Months Ended March 31, 2014
		Revenue		Operating Income (loss)			Revenue		Operating Income
	Permeation	$	6,102	$	678		$	5,849	$	1,014
	Package Testing		6,756		887			6,624		51
	Industrial Analyzers and Other		2,502		(426	)		2,840		56
	Total	$	15,360	$	1,139		$	15,313	$	1,121

Note_2_Inventories_Details_Maj

Note 2 - Inventories (Details) - Major Components of Inventories (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Major Components of Inventories [Abstract]
Finished products	$1,448	$1,628
Work-in-process	3,061	2,574
Raw materials	4,425	4,503
	$8,934	$8,705

Note_3_Net_Income_Per_Common_S2

Note 3 - Net Income Per Common Share (Details) (Equity Option [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Equity Option [Member]
Note 3 - Net Income Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	145,200	0

Note_3_Net_Income_Per_Common_S3

Note 3 - Net Income Per Common Share (Details) - Reconciliation of Denominators Used in Computation of Net Income per Common Share	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Reconciliation of Denominators Used in Computation of Net Income per Common Share [Abstract]
Weighted shares of common stock outstanding - basic	5,742	5,641
Dilutive impact of share-based awards	95	137
Weighted shares of common stock outstanding - diluted	5,837	5,778

Note_4_Goodwill_and_Intangible2

Note 4 - Goodwill and Intangible Assets (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$289,000	$321,000

Note_4_Goodwill_and_Intangible3

Note 4 - Goodwill and Intangible Assets (Details) - Changes in Carrying Amount of Goodwill (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill [Line Items]
Balance	$7,402	$8,147
Foreign currency translation	-745
Package Testing Segment [Member]
Goodwill [Line Items]
Balance	4,942	5,508
Foreign currency translation	-566
Permeation Segment [Member]
Goodwill [Line Items]
Balance	1,850	2,029
Foreign currency translation	-179
Industrial Analyzers and Other Segment [Member]
Goodwill [Line Items]
Balance	$610	$610

Note_4_Goodwill_and_Intangible4

Note 4 - Goodwill and Intangible Assets (Details) - Other Intangible Assets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]
Cost	$13,245	$14,378
Accumulated Amortization	-3,527	-3,547
Net	9,718	10,831
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	1,812	1,719
Accumulated Amortization	-431	-416
Net	1,381	1,303
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	3,293	3,676
Accumulated Amortization	-634	-644
Net	2,659	3,032
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	6,088	6,843
Accumulated Amortization	-2,029	-2,091
Net	4,059	4,752
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	712	800
Accumulated Amortization	-237	-245
Net	475	555
In Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	1,085	1,085
Accumulated Amortization	-73	-46
Net	1,012	1,039
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	255	255
Accumulated Amortization	-123	-105
Net	$132	$150

Note_4_Goodwill_and_Intangible5

Note 4 - Goodwill and Intangible Assets (Details) - Estimated Amortization Expense (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Estimated Amortization Expense [Abstract]
2015	$867
2016	1,137
2017	1,103
2018	1,072
2019	1,071
2020 & Thereafter	3,754
	$9,004

Note_5_Accumulated_Other_Compr2

Note 5 - Accumulated Other Comprehensive Income (Loss) (Details) - Adjustments to Accumulated Other Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Adjustments to Accumulated Other Comprehensive Income (Loss) [Abstract]
Beginning balance	($2,792)	$613
Foreign currency translation adjustments	-2,713	-48
Accumulated other comprehensive income (loss)	($5,505)	$565

Note_6_Warranty_Details

Note 6 - Warranty (Details)	3 Months Ended
	Mar. 31, 2015
Product Warranties Disclosures [Abstract]
Product Warranty Period Low End of Range	90 days
Product Warranty Period High End of Range	1 year

Note_6_Warranty_Details_Warran

Note 6 - Warranty (Details) - Warranty Provisions and Claims (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Warranty Provisions and Claims [Abstract]
Beginning balance	$285	$335
Warranty provisions	200	71
Warranty claims	-131	-84
Ending Balance	$354	$322

Note_7_Debt_Details

Note 7 - Debt (Details)

0 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

Jun. 28, 2012

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Jul. 30, 2012

Jul. 30, 2012

Jun. 29, 2012

Jun. 29, 2012

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Jan. 13, 2015

Dansensor [Member]

Dansensor [Member]

Dansensor [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Seller Financed Secured Note Payable [Member]

Seller Financed Secured Note Payable [Member]

Seller Financed Secured Note Payable [Member]

Seller Financed Secured Note Payable [Member]

Seller Financed Secured Note Payable [Member]

Seller Financed Secured Note Payable [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

USD ($)

DKK

USD ($)

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

USD ($)

DKK

USD ($)

DKK

USD ($)

USD ($)

USD ($)

Note 7 - Debt (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$1,500,000

10,000,000

$6,000,000

$6,000,000

Debt Instrument, Maturity Date

28-Mar-16

London Interbank Offered Rate (LIBOR)

0.25%

0.25%

Debt Instrument, Description of Variable Rate Basis

1.75

1.75

Line of Credit Facility, Interest Rate at Period End

2.00%

2.00%

Long-term Line of Credit

0

0

3,300,000

3,300,000

Debt Instrument, Interest Rate, Stated Percentage

4.35%

4.35%

Repayments of Notes Payable

$1,100,000

6,500,000

$1,100,000

6,500,000

Debt Instrument Percentage of Common Stock Secured Before Amendment

100.00%

Debt Instrument Percentage of Common Stock Secured

65.00%

65.00%

65.00%

Note_7_Debt_Details_Longterm_N

Note 7 - Debt (Details) - Long-term Notes Payable (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Capital leases	$23	$29
Total long-term notes payable	1,056	1,290
Less current portion of long-term notes payable	969	983
Total long-term notes payable	87	307
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Note payable to bank, with interest at 3.46%, payable in monthly principal installments of $73 plus interest through March 28, 2016, collateralized by our assets with the exception of the Dansensor A/S (a wholly owned subsidiary) stock.	948	1,166
Seller Financed Secured Note Payable [Member]
Debt Instrument [Line Items]
Seller financed note payable (Seller Note), with interest at 3.46%, payable in semi-annual principal and interest payments totaling $891 beginning October 2, 2012 through October 10, 2014 with one final payment of $85 on April 2, 2015, collateralized by 65% of the outstanding stock of Dansensor A/S.	$85	$95

Note_7_Debt_Details_Longterm_N1

Note 7 - Debt (Details) - Long-term Notes Payable (Parentheticals) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2012	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Collateralized by percent of the outstanding stock of Dansensor	65.00%
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest		3.46%	3.46%
Monthly principal installments		$73	$73
Seller Financed Secured Note Payable [Member]
Debt Instrument [Line Items]
Interest		3.46%	3.46%
Semi-annual principal and interest payments		891	891
Collateralized by percent of the outstanding stock of Dansensor		65.00%	65.00%
Final payment		$85	$85

Note_7_Debt_Details_Future_Min

Note 7 - Debt (Details) - Future Minimum Principal Payments of the Long-term Notes Payable (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Note 7 - Debt (Details) - Future Minimum Principal Payments of the Long-term Notes Payable [Line Items]
	$1,056	$1,290
Notes Payable [Member]
Note 7 - Debt (Details) - Future Minimum Principal Payments of the Long-term Notes Payable [Line Items]
2015	751
2016	303
2017	2
	$1,056

Note_8_Income_Taxes_Details

Note 8 - Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	34.70%	31.40%
Unrecognized Tax Benefits	$361,000		$357,000

Note_9_Sharebased_Compensation2

Note 9 - Share-based Compensation (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Employee Stock Option [Member] | Stock Incentive Plan 2006 and Stock Option Plan 1998 [Member]
Note 9 - Share-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)	687,200
Employee Stock Option [Member]
Note 9 - Share-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)	687,200		722,675
Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions Contractual Term	7 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$142,000	$228,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	796,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$88,000	$77,000
Stock Incentive Plan 2006 [Member]
Note 9 - Share-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)	8,939

Note_9_Sharebased_Compensation3

Note 9 - Share-based Compensation (Details) - Stock-based Compensation Expense (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stock-based Compensation Expense [Abstract]
Total cost of share-based compensation	$161	$143
Amount of income tax benefit recognized in earnings	-21	-21
Amount charged against net income	$140	$122

Note_9_Sharebased_Compensation4

Note 9 - Share-based Compensation (Details) - Information Regarding Company's Stock Option Plans (Employee Stock Option [Member], USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Note 9 - Share-based Compensation (Details) - Information Regarding Company's Stock Option Plans [Line Items]
Shares	687,200	722,675
Weighted Average Exercise Price per Share	$14.43	$14.35
Weighted Average Remaining Contractual Term	4 years 135 days	4 years 211 days
Aggregate Intrinsic Value	$1,619	$2,555
Options exercisable, March 31, 2015	480,675
Options exercisable, March 31, 2015	$13.48
Options exercisable, March 31, 2015	3 years 222 days
Options exercisable, March 31, 2015	$1,525
Exercised	-30,850
Exercised	$12.30
Cancelled or expired	-4,625
Cancelled or expired	$16.22

Note_9_Sharebased_Compensation5

Note 9 - Share-based Compensation (Details) - Summary of Status of Company's Unvested Option Shares (Employee Stock Option [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Note 9 - Share-based Compensation (Details) - Summary of Status of Company's Unvested Option Shares [Line Items]
Number of Shares	206,525	227,400
Weighted Average Grant Date Fair Value	$4.29	$4.35
Options cancelled	-4,625
Options cancelled	$3.72
Options vested	-16,250
Options vested	$5.41

Note_10_Business_Segments_Deta

Note 10 - Business Segments (Details)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Number of Operating Segments	4
Number of Reportable Segments	3

Note_10_Business_Segments_Deta1

Note 10 - Business Segments (Details) - Segment Information (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenue	$15,360	$15,313
Operating Income (loss)	1,139	1,121
Permeation Segment [Member]
Segment Reporting Information [Line Items]
Revenue	6,102	5,849
Operating Income (loss)	678	1,014
Package Testing Segment [Member]
Segment Reporting Information [Line Items]
Revenue	6,756	6,624
Operating Income (loss)	887	51
Industrial Analyzers and Other Segment [Member]
Segment Reporting Information [Line Items]
Revenue	2,502	2,840
Operating Income (loss)	($426)	$56