Mocon (MOCO) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
Document Information [Line Items]
Entity Registrant Name	MOCON INC
Entity Central Index Key	67,279
Trading Symbol	moco
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		5,867,127
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 11,162	$ 8,313
Trade accounts receivable, less allowance for doubtful accounts of $149 in 2017 and $180 in 2016	10,443	10,726
Other receivables	16	21
Inventories	7,515	6,728
Prepaid income taxes	769	498
Prepaid expenses, other	1,003	876
Total current assets	30,908	27,162
Property, plant, and equipment, net of accumulated depreciation of $9,078 in 2017 and $8,537 in 2016	5,394	5,457
Goodwill	7,337	7,180
Intangible assets, net	7,661	7,831
Other assets	118	118
Deferred income taxes	296	700
Total assets	51,714	48,448
Current liabilities:
Current maturities of long-term notes payable	82	83
Accounts payable	4,906	2,905
Accrued compensation and related expenses	3,070	3,948
Other accrued expenses	1,019	947
Accrued product warranties	204	209
Accrued income taxes	1,680	999
Dividends payable	704	644
Deferred revenue	1,430	980
Total current liabilities	13,095	10,715
Line of credit	1,200
Notes payable	61	80
Deferred income taxes	1,026	1,068
Accrued income taxes	134	134
Total noncurrent liabilities	2,421	1,282
Total liabilities	15,516	11,997
Shareholders’ equity:
Capital stock – undesignated. Authorized 3,000,000 shares; none issued and outstanding in 2017 and December 31,
Common stock – $0.10 par value. Authorized 22,000,000 shares; issued and outstanding 5,867,127 shares in 2017 and 5,854,413 shares in 2016	585	585
Additional paid-in capital	8,982	8,617
Retained earnings	32,410	33,144
Accumulated other comprehensive loss	(5,779)	(5,895)
Total shareholders’ equity	36,198	36,451
Total liabilities and shareholders' equity	$ 51,714	$ 48,448

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Trade accounts receivable, allowance for doubtful accounts	$ 149	$ 180
Property, plant and equipment, accumulated depreciation	$ 9,078	$ 8,537
Captial stock, authorized shares (in shares)	3,000,000	3,000,000
Capital stock, shares issued (in shares)	0	0
Capital stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	22,000,000	22,000,000
Common stock, shares issued (in shares)	5,867,127	5,854,413
Common stock, shares outstanding (in shares)	5,867,127	5,854,413

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Products	$ 12,345	$ 11,384
Services	2,726	2,812
Consulting	425	534
Total revenue	15,496	14,730
Cost of revenue:
Products	5,272	4,970
Services	1,137	1,174
Consulting	423	482
Total cost of revenue	6,832	6,626
Gross profit	8,664	8,104
Selling, general and administrative expenses	6,488	6,138
Research and development expenses	1,358	1,203
Operating income	818	763
Other expense, net	(40)	(35)
Income before income taxes	778	728
Income taxes	805	240
Net income (loss)	$ (27)	$ 488
Net income (loss) per common share:
Basic (in dollars per share)	$ 0	$ 0.08
Diluted (in dollars per share)	$ 0	$ 0.08
Weighted average common shares outstanding:
Basic (in shares)	5,856	5,797
Diluted (in shares)	5,856	5,816
Cash Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.11

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income (loss)	$ (27)	$ 488
Other comprehensive income:
Cumulative translation adjustment	116	897
Comprehensive income	$ 89	$ 1,385

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (27)	$ 488
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share-based compensation expense	205	186
Loss on disposition of long-term assets	5	18
Depreciation and amortization	668	689
Deferred income taxes	348	(171)
Changes in operating assets and liabilities:
Trade accounts receivable	358	(1,233)
Other receivables	5	174
Inventories	(690)	165
Prepaid income taxes	(266)	(345)
Prepaid expenses	39	(222)
Accounts payable	1,752	399
Accrued compensation and related expenses	(509)	(966)
Other accrued expenses	62	121
Accrued product warranties	(6)	16
Accrued income taxes	665	276
Deferred revenue	447	498
Net cash provided by operating activities	3,056	93
Cash flows from investing activities:
Purchases of property, plant and equipment	(175)	(137)
Proceeds from sale of property and equipment		43
Purchases of patents and other intangible assets	(15)	(8)
Other	4
Net cash used in investing activities	(186)	(102)
Cash flows from financing activities:
Payments on notes payable and seller financed note payable	(20)	(17)
Proceeds from the line of credit	1,200	850
Payments on the line of credit		(793)
Proceeds from the exercise of stock options	147	19
Proceeds from ESPP	12
Dividends paid	(644)	(637)
Net cash provided by (used in) financing activities	695	(578)
Effect of exchange rate changes on cash and cash equivalents	716	(205)
Net increase (decrease) in cash and cash equivalents	2,849	(382)
Cash and cash equivalents:
Beginning of year	8,313	6,344
End of year	11,162	5,962
Supplemental disclosures of cash flow information:
Cash paid during the year for income taxes	119	205
Cash paid during the year for interest		26
Supplemental schedule of noncash investing and financing activities:
Dividends accrued	704	637
Purchases of prepaid expenses, fixed assets and intangibles in accounts payable	(236)	(142)
Transfer of inventory to fixed assets	$ 30	$ 32

Note 1 - Condensed Consolidated

Note 1 - Condensed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Note 1 The condensed consolidated balance sheet as of March 31, 2017 , the condensed consolidated statements of income and comprehensive income, for the three March 31, 2017 and 2016 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, 2017 , 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. Certain amounts have been reclassified from the prior year presentation to conform to the current year presentation. The results of operations for the three March 31, 2017 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 December 31, 2016, 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 Package Testing Products and Services (“Package Testing”), Permeation Products and Services (“Permeation”), 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, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2 Inventories consist of the following (expressed in thousands): March 31, December 31, 2017 2016 Finished products $ 1,754 $ 1,252 Work-in-process 2,061 1,991 Raw materials 3,700 3,485 Total Inventory $ 7,515 $ 6,728

Note 3 - Net Income (Loss) Per

Note 3 - Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) 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 (loss) per common share – basic, and net income (loss) per common share – diluted, for the three -months ended March 31, 2017 and 2016 Three Months Ended March 31, 2017 2016 Weighted shares of common stock outstanding - basic 5,856 5,797 Dilutive impact of share-based awards - 19 Weighted shares of common stock outstanding - diluted 5,856 5,816 Outstanding stock options totaling 797,294 666,235 three March 31, 2017 and 2016

Note 4 - Goodwill and Intangibl

Note 4 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4 The changes in the carrying amount of goodwill for the three -months ended March 31, 2017 were as follows (expressed in thousands): Industrial Package Permeation Analyzers & Other Total Balance as of December 31, 2016 $ 4,819 $ 1,751 $ 610 $ 7,180 Foreign currency translation 70 87 - 157 Balance as of March 31, 2017 $ 4,889 $ 1,838 $ 610 $ 7,337 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 Other intangible assets (all of which are being amortized except projects in process) are as follows (expressed in thousands): As of March 31, 2017 Accumulated Cost Amortization Net Patents $ 2,050 $ (527 ) $ 1,523 Trademarks and trade names 3,269 (936 ) 2,333 Developed technology 6,017 (3,343 ) 2,674 Customer relationships 704 (391 ) 313 Internally developed software 1,085 (290 ) 795 Other intangibles 214 (191 ) 23 $ 13,339 $ (5,678 ) $ 7,661 As of December 31, 2016 Accumulated Cost Amortization Net Patents $ 2,021 $ (508 ) $ 1,513 Trademarks and trade names 3,219 (886 ) 2,333 Developed technology 5,923 (3,125 ) 2,798 Customer relationships 693 (366 ) 327 Internally developed software 1,085 (263 ) 822 Other intangibles 214 (176 ) 38 $ 13,155 $ (5,324 ) $ 7,831 Total amortization expense for the three -months ended March 31, 2017 and 2016 $285,100 $299,000, Estimated amortization expense for the remainder of 2017 four March 31, 2017 is approximately $0.8 $1.1 $1.1 $1.1 $0.5 $2.4

Note 5 - Warranty

Note 5 - Warranty	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	Note 5 We provide warranties for most of our products. Warranties are for periods ranging from ninety one 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 -months ended March 31, 2017 and 2016 a re as follows (expressed in thousands): Three Months Ended March 31, 2017 2016 Beginning balance $ 209 $ 223 Warranty provisions 132 144 Warranty claims (137 ) (125 ) Ending Balance $ 204 $ 242

Note 6 - Debt

Note 6 - Debt	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 6 Notes payable consists of the following (expressed in thousands): March 31, 2017 December 31, 2016 Capital leases $ 143 $ 163 Less current portion of long-term notes payable 82 83 Total long-term notes payable $ 61 $ 80 In the U.S., we have a $10.0 August 26, 2018. one (0.79 1.50 2.29 1.94 March 31, 2017 and 2016, 65 $1.2 $0 March 31, 2017 and December 31, 2016, Additionally, we have a DKK 5 $0.7 no March 31, 2017 and December 31, 2016. 4.35 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, acquisitions, making capital and lease expenditures and making share repurchases. As of March 31, 2017 , the future minimum principal payments of the notes payable for the remainder of 2017 Minimum principal Payments 2017 $ 63 2018 59 2019 21 Total $ 143

Note 7 - Realignment Expenses

Note 7 - Realignment Expenses	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	Note 7 Amounts accrued and cash payments for the three March 31, 2017 and 2016 were as follows (expressed in thousands): Three Months Ended March 31, 2017 2016 Beginning Balance $ 547 $ 620 Cash Payments (288 ) (508 ) Ending Balance $ 259 $ 112

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 8 Our provision for income tax expense was 103 33 three March 31, 2017 March 31, 2016, three March 31, 2017 As of March 31, 2017 December 31, 2016, $403,000 $126,000. twelve twelve

Note 9 - Share-based Compensati

Note 9 - Share-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 9 Employee Stock Purchase Plan The Company’s Employee Stock Purchase Plan (“ESPP”) allows eligible employees to purchase newly issued shares of the Company’s common stock at a discount through payroll deductions. The Purchase Plan consists of a 6 85 15 50,000 December 31, 2016, 3,585 December 31, 2016, 46,415 $2.35 December 31, 2016. Stock Incentive Plans As of March 31, 2017 , we have reserved 165,800 2015 797,294 2006 2015 Share-based compensation expense recognized in the consolidated financial statements are as follows (expressed in thousands): Three Months Ended March 31, 2017 2016 Cost of share-based compensation - stock incentive plans $ 200 $ 186 Cost of share-based compensation - ESPP 5 - Amount charged against net income (loss) $ 205 $ 186 The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. 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 ten four A summary of the option activity for the first three months of 2017 Weighted Weighted Average Aggregate Average Remaining Intrinsic Exercise Contractual Value Shares Price Term (in thousands) Options outstanding, December 31, 2016 814,544 $ 16.04 4.53 $ 2,820 Granted 15,000 18.70 6.80 0 Exercised (29,000 ) 15.45 3.10 186 Cancelled or expired (3,250 ) 16.87 0.00 0 Options outstanding, March 31, 2017 797,294 $ 16.11 4.37 $ 4,619 Options exercisable, March 31, 2017 544,144 $ 15.19 3.49 $ 3,652 The total intrinsic value of options exercised was $186,000 $7,000 three March 31, 2017 2016, As of March 31, 2017 , there was $803,000 1.4 three March 31, 2017 2016 $0 $88,000,

Note 10 - Business Segments

Note 10 - Business Segments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 10 We have four 2017, four three 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 Permeation segment includes instruments and services that measure the rate at which various gases and vapors permeate through a variety of materials. 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 10 December 31, 2016. three -months ended March 31, 2017 and 2016 were insignificant. Financial information by reportable segment for the three -months ended March 31, 2017 and 2016 is as follows (expressed in thousands): Package Testing Permeation Industrial Analyzers and Other Consolidated Three Months Ended March 31, 2017 Revenue $ 7,436 $ 5,583 $ 2,477 $ 15,496 Gross profit 4,382 3,219 1,063 8,664 Three Months Ended March 31, 2016 Revenue $ 7,002 $ 5,283 $ 2,445 $ 14,730 Gross profit 4,031 2,995 1,078 8,104

Note 11 - Subsequent Event

Note 11 - Subsequent Event	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 11 On April 16, 2017, $30.00 $30.00 second third 2017.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
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, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2017 2016 Finished products $ 1,754 $ 1,252 Work-in-process 2,061 1,991 Raw materials 3,700 3,485 Total Inventory $ 7,515 $ 6,728

Note 3 - Net Income (Loss) Pe20

Note 3 - Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, 2017 2016 Weighted shares of common stock outstanding - basic 5,856 5,797 Dilutive impact of share-based awards - 19 Weighted shares of common stock outstanding - diluted 5,856 5,816

Note 4 - Goodwill and Intangi21

Note 4 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Industrial Package Permeation Analyzers & Other Total Balance as of December 31, 2016 $ 4,819 $ 1,751 $ 610 $ 7,180 Foreign currency translation 70 87 - 157 Balance as of March 31, 2017 $ 4,889 $ 1,838 $ 610 $ 7,337
Schedule of Finite-Lived Intangible Assets [Table Text Block]	As of March 31, 2017 Accumulated Cost Amortization Net Patents $ 2,050 $ (527 ) $ 1,523 Trademarks and trade names 3,269 (936 ) 2,333 Developed technology 6,017 (3,343 ) 2,674 Customer relationships 704 (391 ) 313 Internally developed software 1,085 (290 ) 795 Other intangibles 214 (191 ) 23 $ 13,339 $ (5,678 ) $ 7,661 As of December 31, 2016 Accumulated Cost Amortization Net Patents $ 2,021 $ (508 ) $ 1,513 Trademarks and trade names 3,219 (886 ) 2,333 Developed technology 5,923 (3,125 ) 2,798 Customer relationships 693 (366 ) 327 Internally developed software 1,085 (263 ) 822 Other intangibles 214 (176 ) 38 $ 13,155 $ (5,324 ) $ 7,831

Note 5 - Warranty (Tables)

Note 5 - Warranty (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2017 2016 Beginning balance $ 209 $ 223 Warranty provisions 132 144 Warranty claims (137 ) (125 ) Ending Balance $ 204 $ 242

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, 2017 December 31, 2016 Capital leases $ 143 $ 163 Less current portion of long-term notes payable 82 83 Total long-term notes payable $ 61 $ 80
Schedule of Maturities of Long-term Debt and Future Minimum Payments Under Capital Leases [Table Text Block]	Minimum principal Payments 2017 $ 63 2018 59 2019 21 Total $ 143

Note 7 - Realignment Expenses (

Note 7 - Realignment Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three Months Ended March 31, 2017 2016 Beginning Balance $ 547 $ 620 Cash Payments (288 ) (508 ) Ending Balance $ 259 $ 112

Note 9 - Share-based Compensa25

Note 9 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
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, 2017 2016 Cost of share-based compensation - stock incentive plans $ 200 $ 186 Cost of share-based compensation - ESPP 5 - Amount charged against net income (loss) $ 205 $ 186
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, 2016 814,544 $ 16.04 4.53 $ 2,820 Granted 15,000 18.70 6.80 0 Exercised (29,000 ) 15.45 3.10 186 Cancelled or expired (3,250 ) 16.87 0.00 0 Options outstanding, March 31, 2017 797,294 $ 16.11 4.37 $ 4,619 Options exercisable, March 31, 2017 544,144 $ 15.19 3.49 $ 3,652

Note 10 - Business Segments (Ta

Note 10 - Business Segments (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Package Testing Permeation Industrial Analyzers and Other Consolidated Three Months Ended March 31, 2017 Revenue $ 7,436 $ 5,583 $ 2,477 $ 15,496 Gross profit 4,382 3,219 1,063 8,664 Three Months Ended March 31, 2016 Revenue $ 7,002 $ 5,283 $ 2,445 $ 14,730 Gross profit 4,031 2,995 1,078 8,104

Note 2 - Inventories - Major Co

Note 2 - Inventories - Major Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Finished products	$ 1,754	$ 1,252
Work-in-process	2,061	1,991
Raw materials	3,700	3,485
Total Inventory	$ 7,515	$ 6,728

Note 3 - Net Income (Loss) Pe28

Note 3 - Net Income (Loss) Per Common Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	797,294	666,235

Note 3 - Net Income (Loss) Pe29

Note 3 - Net Income (Loss) Per Common Share - Reconciliation of the Denominators Used in the Computation of Net Income Per Common Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic (in shares)	5,856	5,797
Dilutive impact of share-based awards (in shares)		19
Weighted shares of common stock outstanding - diluted (in shares)	5,856	5,816

Note 4 - Goodwill and Intangi30

Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Amortization of Intangible Assets	$ 285,100	$ 299,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	800,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	500,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 2,400,000

Note 4 - Goodwill and Intangi31

Note 4 - Goodwill and Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Balance	$ 7,180
Foreign currency translation	157
Balance	7,337
Package Testing Segment [Member]
Balance	4,819
Foreign currency translation	70
Balance	4,889
Permeation Segment [Member]
Balance	1,751
Foreign currency translation	87
Balance	1,838
Industrial Analyzers and Other Segment [Member]
Balance	610
Foreign currency translation
Balance	$ 610

Note 4 - Goodwill and Intangi32

Note 4 - Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Cost	$ 13,339	$ 13,155
Accumulated amortization	(5,678)	(5,324)
Intangible assets, net	7,661	7,831
Patents [Member]
Cost	2,050	2,021
Accumulated amortization	(527)	(508)
Intangible assets, net	1,523	1,513
Trademarks and Trade Names [Member]
Cost	3,269	3,219
Accumulated amortization	(936)	(886)
Intangible assets, net	2,333	2,333
Developed Technology Rights [Member]
Cost	6,017	5,923
Accumulated amortization	(3,343)	(3,125)
Intangible assets, net	2,674	2,798
Customer Relationships [Member]
Cost	704	693
Accumulated amortization	(391)	(366)
Intangible assets, net	313	327
Internally Developed Software [Member]
Cost	1,085	1,085
Accumulated amortization	(290)	(263)
Intangible assets, net	795	822
Other Intangible Assets [Member]
Cost	214	214
Accumulated amortization	(191)	(176)
Intangible assets, net	$ 23	$ 38

Note 5 - Warranty (Details Text

Note 5 - Warranty (Details Textual)	3 Months Ended
	Mar. 31, 2017
Product Warranty Period Low End of Range	90 days
Product Warranty Period High End of Range	1 year

Note 5 - Warranty - Warranty Pr

Note 5 - Warranty - Warranty Provisions and Claims (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Beginning balance	$ 209	$ 223
Warranty provisions	132	144
Warranty claims	(137)	(125)
Ending Balance	$ 204	$ 242

Note 6 - Debt (Details Textual)

Note 6 - Debt (Details Textual) DKK in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017DKK	Dec. 31, 2016USD ($)	Mar. 31, 2016
Dansensor [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.35%	4.35%
Dansensor [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 700,000	DKK 5
Long-term Line of Credit	0		$ 0
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000
London Interbank Offered Rate LIBOR	0.79%
Line of Credit Facility, Interest Rate at Period End	2.29%	2.29%		1.94%
Debt Instrument Percentage of Common Stock Secured	65.00%
Long-term Line of Credit	$ 1,200,000		$ 0
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.015%

Note 6 - Debt - Long-term Notes

Note 6 - Debt - Long-term Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Capital leases	$ 143	$ 163
Less current portion of long-term notes payable	82	83
Total long-term notes payable	$ 61	$ 80

Note 6 - Debt - Future Minimum

Note 6 - Debt - Future Minimum Principal Payments of Long-term Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total	$ 61	$ 80
Notes Payable [Member]
2,017	63
2,018	59
2,019	21
Total	$ 143

Note 7 - Realignment Expenses -

Note 7 - Realignment Expenses - Amounts Accrued, Realignment Expenses, and Cash Payments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Beginning Balance	$ 547	$ 620
Cash Payments	(288)	(508)
Ending Balance	$ 259	$ 112

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Effective Income Tax Rate Reconciliation, Percent	103.00%	33.00%
Unrecognized Tax Benefits	$ 403,000	$ 126,000

Note 9 - Share-based Compensa40

Note 9 - Share-based Compensation (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	797,294		814,544
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 186,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	186,000	$ 7,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 803,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 0	$ 88,000
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award Options Exercise Period	7 years
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award Options Exercise Period	10 years
2015 Employee Stock Purchase Plan [Member]
Employee Stock Purchase Plans, Offering Period	180 days
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date	15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	50,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans			3,585
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			46,415
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 2.35
Stock Incentive Plan 2015 [Member]
Common Stock, Capital Shares Reserved for Future Issuance	165,800
Stock Incentive Plan 2006 and 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	797,294

Note 9 - Share-based Compensa41

Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Amount charged against net income (loss)	$ 205	$ 186
Stock Compensation Plan [Member]
Cost of share-based compensation	200	186
Employee Stock Purchase Plan [Member]
Cost of share-based compensation	$ 5

Note 9 - Share-based Compensa42

Note 9 - Share-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Options outstanding (in shares)	814,544
Options outstanding, Weighted Average Exercise Price (in dollars per share)	$ 16.04
Options outstanding, Weighted Average Remaining Contractual Term (Year)	4 years 135 days	4 years 193 days
Options outstanding, Aggregate Intrinsic Value	$ 4,619	$ 2,820
Options granted (in shares)	15,000
Granted, Weighted Average Exercise Price (in dollars per share)	$ 18.70
Granted, Weighted Average Remaining Contractual Term (Year)	6 years 292 days
Options exercised (in shares)	(29,000)
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 15.45
Exercised, Weighted Average Remaining Contractual Term (Year)	3 years 36 days
Exercised, Aggregate Intrinsic Value	$ 186
Options cancelled or expired (in shares)	(3,250)
Cancelled or expired, Weighted Average Exercise Price (in dollars per share)	$ 16.87
Options outstanding (in shares)	797,294	814,544
Options outstanding, Weighted Average Exercise Price (in dollars per share)	$ 16.11	$ 16.04
Options exercisable (in shares)	544,144
Options exercisable, Weighted Average Exercise Price (in dollars per share)	$ 15.19
Options exercisable, Weighted Average Remaining Contractual Term (Year)	3 years 178 days
Options exercisable, Aggregate Intrinsic Value	$ 3,652

Note 10 - Business Segments (De

Note 10 - Business Segments (Details Textual)	3 Months Ended
	Mar. 31, 2017
Number of Operating Segments	4
Number of Reportable Segments	3

Note 10 - Business Segments - F

Note 10 - Business Segments - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 15,496	$ 14,730
Gross profit	8,664	8,104
Package Testing Segment [Member] | Operating Segments [Member]
Revenue	7,436	7,002
Gross profit	4,382	4,031
Permeation Segment [Member] | Operating Segments [Member]
Revenue	5,583	5,283
Gross profit	3,219	2,995
Industrial Analyzers and Other Segment [Member] | Operating Segments [Member]
Revenue	2,477	2,445
Gross profit	$ 1,063	$ 1,078

Note 11 - Subsequent Event (Det

Note 11 - Subsequent Event (Details Textual) - Scenario, Forecast [Member] - Merger Agreement [Member]	Jun. 30, 2017$ / shares
Business Combination, Cash Received per Share upon Cancellation	$ 30
Business Combination, Amount in Excess of Exercise Price per Stock Option Outstanding Used in Determination of Cash Received upon Cancellation	$ 30