Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Jun. 30, 2014 | Feb. 20, 2015 | |
Document Information [Line Items] | |||
Entity Registrant Name | NATIONAL RESEARCH CORP | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Public Float | $268,643,360 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 70487 | ||
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-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Common Class A [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 20,955,678 | ||
Common Class B [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 3,505,352 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $40,042 | $22,092 |
Trade accounts receivable, less allowance for doubtful accounts of $201 and $183, respectively | 8,116 | 11,043 |
Unbilled revenue | 1,169 | 1,282 |
Prepaid expenses | 1,418 | 1,310 |
Income taxes receivable | 1,100 | 357 |
Deferred income taxes | 349 | 53 |
Other current assets | 994 | 429 |
Total current assets | 53,188 | 36,566 |
Net property and equipment | 12,143 | 11,898 |
Intangible assets, net | 5,456 | 4,840 |
Goodwill | 58,489 | 57,593 |
Other | 234 | 191 |
Total assets | 129,510 | 111,088 |
Current liabilities: | ||
Current portion of notes payable | 2,328 | 2,256 |
Accounts payable | 830 | 654 |
Accrued wages, bonus and profit sharing | 4,365 | 4,319 |
Accrued expenses | 5,047 | 2,462 |
Current portion of capital lease obligations | 151 | 114 |
Income taxes payable | 110 | 92 |
Deferred revenue | 15,095 | 13,885 |
Total current liabilities | 27,926 | 23,782 |
Notes payable, net of current portion | 5,740 | 8,068 |
Deferred income taxes | 7,432 | 6,939 |
Deferred revenue | 123 | 243 |
Other long term liabilities | 541 | 301 |
Total liabilities | 41,762 | 39,333 |
Shareholders’ equity: | ||
Preferred stock, $0.01 par value, authorized 2,000,000 shares, none issued | ||
Additional paid-in capital | 44,864 | 42,192 |
Retained earnings | 73,686 | 58,042 |
Accumulated other comprehensive (loss) income, foreign currency translation adjustment | -773 | 302 |
Treasury stock, at cost; 4,581,376 Class A shares, 757,024 Class B shares in 2014 and 4,516,245 Class A shares, 752,707 Class B shares in 2013 | -30,058 | -28,810 |
Total shareholders’ equity | 87,748 | 71,755 |
Total liabilities and shareholders’ equity | 129,510 | 111,088 |
Common Class A [Member] | ||
Shareholders’ equity: | ||
Common Stock | 25 | 25 |
Common Class B [Member] | ||
Shareholders’ equity: | ||
Common Stock | $4 | $4 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts (in Dollars) | $201 | $183 |
Preferred stock, par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common Class A [Member] | ||
Common Stock, Par Value (in Dollars per share) | $0.00 | $0.00 |
Common Stock, Shares Authorized | 60,000,000 | 60,000,000 |
Common Stock, Shares Issued | 25,475,662 | 25,285,029 |
Common Stock, Shares Outstanding | 20,894,286 | 20,768,784 |
Treasury stock, Shares | 4,581,376 | 4,516,245 |
Common Class B [Member] | ||
Common Stock, Par Value (in Dollars per share) | $0.00 | $0.00 |
Common Stock, Shares Authorized | 80,000,000 | 80,000,000 |
Common Stock, Shares Issued | 4,251,889 | 4,220,117 |
Common Stock, Shares Outstanding | 3,494,865 | 3,467,410 |
Treasury stock, Shares | 757,024 | 752,707 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenue | $98,837 | $92,590 | $86,421 |
Operating expenses: | |||
Direct | 41,719 | 38,844 | 35,461 |
Selling, general and administrative | 25,018 | 25,208 | 23,542 |
Depreciation and amortization | 3,804 | 3,732 | 4,699 |
Total operating expenses | 70,541 | 67,784 | 63,702 |
Operating income | 28,296 | 24,806 | 22,719 |
Other income (expense): | |||
Interest income | 83 | 63 | 32 |
Interest expense | -305 | -397 | -541 |
Other, net | 18 | 16 | -3 |
Total other expense | -204 | -318 | -512 |
Income before income taxes | 28,092 | 24,488 | 22,207 |
Provision for income taxes | 9,936 | 9,004 | 7,139 |
Net income | 18,156 | 15,484 | 15,068 |
Common Class A [Member] | |||
Other income (expense): | |||
Net income | 9,062 | 7,741 | 7,534 |
Earnings per share of common stock: | |||
Earnings per share, Basic (in Dollars per share) | $0.44 | $0.37 | $0.37 |
Diluted earnings per share: | |||
Earnings per share, Diluted (in Dollars per share) | $0.43 | $0.37 | $0.36 |
Weighted average shares and share equivalents outstanding | |||
Weighted average shares and share equivalents outstanding, basic (in Shares) | 20,764 | 20,677 | 20,325 |
Weighted average shares and share equivalents outstanding, diluted (in Shares) | 21,076 | 21,099 | 20,854 |
Common Class B [Member] | |||
Other income (expense): | |||
Net income | $9,094 | $7,743 | $7,534 |
Earnings per share of common stock: | |||
Earnings per share, Basic (in Dollars per share) | $2.62 | $2.25 | $2.22 |
Diluted earnings per share: | |||
Earnings per share, Diluted (in Dollars per share) | $2.57 | $2.20 | $2.17 |
Weighted average shares and share equivalents outstanding | |||
Weighted average shares and share equivalents outstanding, basic (in Shares) | 3,473 | 3,447 | 3,388 |
Weighted average shares and share equivalents outstanding, diluted (in Shares) | 3,536 | 3,514 | 3,476 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $18,156 | $15,484 | $15,068 |
Cumulative translation adjustment | -1,075 | -822 | 217 |
Other comprehensive income (loss) | -1,075 | -822 | 217 |
Comprehensive Income | $17,081 | $14,662 | $15,285 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Common Class A [Member] | Common Class A [Member] | Common Class B [Member] | Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands | Common Stock [Member] | Common Stock [Member] | |||||||
Balances at December 31, 2011 at Dec. 31, 2011 | $24 | $4 | $31,060 | $46,995 | $907 | ($23,436) | $55,554 | ||
Purchase of treasury stock | -5,168 | -5,168 | |||||||
Issuance of common shares for the excercise of stock options | 1 | 5,967 | 5,968 | ||||||
Tax benefit from the exercise of options and vested restricted stock | 2,078 | 2,078 | |||||||
Non-cash stock compensation expense | 388 | 388 | |||||||
Dividends declared per common share | -17,363 | -17,363 | |||||||
Other comprehensive (loss), foreign currency translation adjustment | 217 | 217 | |||||||
Net income | 7,534 | 7,534 | 15,068 | 15,068 | |||||
Balances at Dec. 31, 2012 | 25 | 4 | 39,493 | 44,700 | 1,124 | -28,604 | 56,742 | ||
Purchase of treasury stock | -206 | -206 | |||||||
Issuance of common shares for the excercise of stock options | 990 | 990 | |||||||
Tax benefit from the exercise of options and vested restricted stock | 755 | 755 | |||||||
Non-cash stock compensation expense | 955 | 955 | |||||||
Fractional share cashed out | -1 | -1 | |||||||
Dividends declared per common share | -2,142 | -2,142 | |||||||
Other comprehensive (loss), foreign currency translation adjustment | -822 | -822 | |||||||
Net income | 7,741 | 7,743 | 15,484 | 15,484 | |||||
Balances at Dec. 31, 2013 | 25 | 4 | 42,192 | 58,042 | 302 | -28,810 | 71,755 | ||
Purchase of treasury stock | -1,248 | -1,248 | |||||||
Issuance of common shares for the excercise of stock options | 1,308 | 1,308 | |||||||
Tax benefit from the exercise of options and vested restricted stock | 622 | 622 | |||||||
Non-cash stock compensation expense | 742 | 742 | |||||||
Dividends declared per common share | -2,512 | -2,512 | |||||||
Other comprehensive (loss), foreign currency translation adjustment | -1,075 | -1,075 | |||||||
Net income | 9,062 | 9,094 | 18,156 | 18,156 | |||||
Balances at Dec. 31, 2014 | $25 | $4 | $44,864 | $73,686 | ($773) | ($30,058) | $87,748 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Class A [Member] | Common Stock [Member] | |||
Shares of treasure stock purchased | 65,131 | 11,445 | 324,093 |
Shares of common stock issued for the excercise of stock options | 140,595 | 155,253 | 786,303 |
Issuance of restricted shares, net of forfeitures | 50,038 | 10,074 | |
Dividends declared per common share (in Dollars per share) | $0.06 | $0.05 | $0.42 |
Common Class A [Member] | |||
Shares of common stock issued for the excercise of stock options | 140,595 | ||
Common Class B [Member] | Common Stock [Member] | |||
Shares of treasure stock purchased | 4,317 | 1,908 | 54,015 |
Shares of common stock issued for the excercise of stock options | 23,432 | 31,876 | 131,051 |
Issuance of restricted shares, net of forfeitures | 8,340 | 1,679 | |
Dividends declared per common share (in Dollars per share) | $0.36 | $0.31 | $2.54 |
Common Class B [Member] | |||
Shares of common stock issued for the excercise of stock options | 23,432 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities: | |||
Net income | $18,156,000 | $15,484,000 | $15,068,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 3,804,000 | 3,732,000 | 4,699,000 |
Deferred income taxes | 107,000 | 58,000 | -347,000 |
Reserve for uncertain tax positions | 182,000 | -42,000 | -74,000 |
Loss on disposal of property and equipment | 2,000 | 23,000 | 4,000 |
Tax benefit from exercise of stock options | 93,000 | 84,000 | 601,000 |
Non-cash stock compensation expense | 742,000 | 955,000 | 388,000 |
Change in assets and liabilities, net of effect of acquisition: | |||
Trade accounts receivable | 2,914,000 | 970,000 | -879,000 |
Unbilled revenue | 66,000 | -386,000 | -11,000 |
Prepaid expenses | -2,000 | -166,000 | -357,000 |
Other current assets | 76,000 | -106,000 | |
Accounts payable | 163,000 | 331,000 | -516,000 |
Accrued expenses, wages, bonus and profit sharing | -367,000 | 212,000 | 1,602,000 |
Income taxes receivable and payable | -715,000 | -100,000 | -303,000 |
Deferred revenue | 1,052,000 | -1,916,000 | -637,000 |
Net cash provided by operating activities | 26,197,000 | 19,315,000 | 19,132,000 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -2,492,000 | -2,188,000 | -2,348,000 |
Option purchase | -657,000 | ||
Acquisition, net of cash acquired | -2,574,000 | ||
Net cash used in investing activities | -5,723,000 | -2,188,000 | -2,348,000 |
Cash flows from financing activities: | |||
Payments on notes payable | -2,256,000 | -2,112,000 | -2,050,000 |
Payments on capital lease obligations | -156,000 | -110,000 | -108,000 |
Proceeds from exercise of stock options | 408,000 | 840,000 | 1,283,000 |
Excess tax benefit from share-based compensation | 622,000 | 755,000 | 2,078,000 |
Repurchase of shares for payroll tax withholdings related to share-based compensation | -348,000 | -55,000 | -527,000 |
Payment of dividends on common stock | -2,142,000 | -17,363,000 | |
Net cash used in financing activities | -1,730,000 | -2,824,000 | -16,687,000 |
Effect of exchange rate changes on cash | -794,000 | -497,000 | 107,000 |
Net increase in cash and cash equivalents | 17,950,000 | 13,806,000 | 204,000 |
Cash and cash equivalents at beginning of period | 22,092,000 | 8,286,000 | 8,082,000 |
Cash and cash equivalents at end of period | 40,042,000 | 22,092,000 | 8,286,000 |
Supplemental disclosure of cash paid for: | |||
Interest expense, net of capitalized amounts | 284,000 | 368,000 | 554,000 |
Income taxes | $9,874,000 | $8,181,000 | $5,108,000 |
Supplemental_Disclosures_of_No
Supplemental Disclosures of Non-Cash Investing and Financing Activities Details | 12 Months Ended |
Dec. 31, 2014 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | Supplemental disclosures of non-cash investing and financing activities: |
Capital lease obligations for property and equipment originating during the years ended December 31, 2014, 2013 and 2012 was $248, $5 and $9, respectively. | |
In connection with the Company’s equity incentive plans, certain optionees tendered to the Company previously owned shares to pay for the option strike price. The total non-cash stock options exercised was $900, $150 and $4.6 million for the years ended December 31, 2014, 2013, and 2012, respectively. |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||
Significant Accounting Policies [Text Block] | (1) Summary of Significant Accounting Policies | ||||||||||||||||||||||||
Description of Business and Basis of Presentation | |||||||||||||||||||||||||
National Research Corporation (“NRC” or the “Company”) is a leading provider of analytics and insights that facilitate revenue growth, patient, employee and customer retention and patient engagement for healthcare providers, payers and other healthcare organizations in the United States and Canada. The Company’s ten largest clients accounted for 16%, 19%, and 22% of the Company’s total revenue in 2014, 2013, and 2012, respectively. | |||||||||||||||||||||||||
Recapitalization | |||||||||||||||||||||||||
In May 2013, the Company consummated a recapitalization (the “May 2013 Recapitalization”) pursuant to which the Company established two classes of common stock (class A common stock and class B common stock), issued a dividend of three shares of class A common stock for each share of the Company’s then existing common stock and reclassified each then existing share of common stock as one-half of one share of class B common stock. All previously reported share and per share amounts in the accompanying financial statements and related notes have been restated to reflect the May 2013 Recapitalization. | |||||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, National Research Corporation Canada, and a variable interest entity, Customer-Connect LLC (“Connect”), which NRC has been deemed the primary beneficiary. All significant intercompany transactions and balances have been eliminated. | |||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||||||||||||||
Reclassifications | |||||||||||||||||||||||||
Certain reclassifications have been made to the 2013 and 2012 financial statement information to conform to the 2014 financial statement presentation. There was no impact on the previously reported net income and earnings per share. | |||||||||||||||||||||||||
Translation of Foreign Currencies | |||||||||||||||||||||||||
The Company’s Canadian subsidiary uses as its functional currency the local currency of the country in which it operates. It translates its assets and liabilities into U.S. dollars at the exchange rate in effect at the balance sheet date. It translates its revenue and expenses at the average exchange rate during the period. The Company includes translation gains and losses in accumulated other comprehensive income (loss), a component of shareholders’ equity. Gains and losses related to transactions denominated in a currency other than the functional currency of the country in which the Company operates and short-term intercompany accounts are included in other income (expense) in the consolidated statements of income. Since the undistributed earnings of the Company’s foreign subsidiary are considered to be indefinitely reinvested, the components of accumulated other comprehensive income (loss) have not been tax effected. | |||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||
The Company derives a majority of its operating revenue from its annually renewable services, which include performance measurement and improvement services, healthcare analytics and governance education services. The Company provides these services to its clients under annual client service contracts, although such contracts are generally cancelable on short or no notice without penalty. The Company also derives some revenue from its custom and other research projects. | |||||||||||||||||||||||||
Services are provided under subscription-based service agreements. The Company recognizes subscription-based service revenue over the period of time the service is provided. Generally, the subscription periods are for twelve months and revenue is recognized equally over the subscription period. | |||||||||||||||||||||||||
Certain contracts are fixed-fee arrangements with a portion of the project fee billed in advance and the remainder billed periodically over the duration of the project. Revenue for services provided under these contracts are recognized under the proportional performance method. Under the proportional performance method, the Company recognizes revenue based on output measures or key milestones such as survey set-up, survey mailings, survey returns and reporting. The Company measures its progress based on the level of completion of these output measures and recognizes revenue accordingly. Management judgments and estimates must be made and used in connection with revenue recognized using the proportional performance method. If management made different judgments and estimates, then the amount and timing of revenue for any period could differ materially from the reported revenue. | |||||||||||||||||||||||||
The Company’s revenue arrangements with a client may include combinations of performance measurement and improvement services, healthcare analytics or governance education services which may be executed at the same time, or within close proximity of one another (referred to as a multiple-element arrangement). Each element of a multiple-element arrangement is accounted for as a separate unit of accounting provided each delivered element is sold separately by the Company or another vendor; and for an arrangement that includes a general right of return relative to the undelivered elements, delivery or performance of the undelivered services are considered probable and substantially in the control of the Company. The Company’s arrangements generally do not include a general right of return related to the delivered services. If these criteria are not met, the arrangement is accounted for as a single unit of accounting with revenue generally recognized equally over the subscription period or recognized under the proportional performance method. | |||||||||||||||||||||||||
Revenue is allocated to each separate unit of accounting based on relative selling price using a selling price hierarchy: vendor-specific objective evidence (“VSOE”), if available, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price if VSOE nor TPE is available. VSOE is established based on the services normal selling price and discounts for the specific services when sold separately. TPE is established by evaluating similar competitor services in standalone arrangements. If neither exists for a deliverable, the best estimate of the selling price (“ESP”) is used for that deliverable based on list price, representing a component of management’s market strategy, and an analysis of historical prices for bundled and standalone arrangements. Revenue allocated to an element is limited to revenue that is not subject to refund or otherwise represents contingent revenue. VSOE, TPE and ESP are periodically adjusted to reflect current market conditions. These adjustments are not expected to differ significantly from historical results. | |||||||||||||||||||||||||
Business Combinations | |||||||||||||||||||||||||
The Company uses the acquisition method of accounting for acquired businesses. Under the acquisition method, the financial statements reflect the operations of an acquired business starting from the completion of the acquisition. The assets acquired and liabilities assumed are recorded at their respective estimated fair values at the date of the acquisition. Any excess of the purchase price over the estimated fair values of the indentifiable net assets acquired is recorded as goodwill. Significant judgment is required in estimating the fair value of assets acquired, especially intangible assets. As a result, in the case of significant acquisitions we typically engage third-party valuation specialists in estimating fair values of tangible and intangible assets. The fair value estimates are based on available historical information and on expectations and assumptions about the future, considering the perspective of marketplace participants. | |||||||||||||||||||||||||
Trade Accounts Receivable | |||||||||||||||||||||||||
Trade accounts receivable are recorded at the invoiced amount. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on specific account analysis and on the Company’s historical write-off experience. The Company reviews the allowance for doubtful accounts monthly. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | |||||||||||||||||||||||||
Property and Equipment | |||||||||||||||||||||||||
Property and equipment is stated at cost. Major expenditures to purchase property or to substantially increase useful lives of property are capitalized. Maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and resulting gains or losses are included in income. | |||||||||||||||||||||||||
For costs of software developed for internal use, the Company expenses computer software costs as incurred in the preliminary project stage, which involves the conceptual formulation, evaluation and selection of technology alternatives. Costs incurred related to the design, coding, installation and testing of software during the application project stage are capitalized. Costs for training and application maintenance are expensed as incurred. The Company has capitalized approximately $1.8 million and $1.7 million of internal and external costs incurred for the development of internal-use software for the years ended December 31, 2014 and 2013, respectively, with such costs classified as property and equipment. | |||||||||||||||||||||||||
The Company provides for depreciation and amortization of property and equipment using annual rates which are sufficient to amortize the cost of depreciable assets over their estimated useful lives. The Company uses the straight-line method of depreciation and amortization over estimated useful lives of three to ten years for furniture and equipment, three to five years for computer equipment, three to five years for capitalized software, and seven to forty years for the Company’s office building and related improvements. | |||||||||||||||||||||||||
Leases are categorized as operating or capital at the inception of the lease. Assets under capital lease obligations are reported at the lower of fair value or the present value of the aggregate future minimum lease payments at the beginning of the lease term. The Company depreciates capital lease assets without transfer-of-ownership or bargain-purchase-options using the straight-line method over the lease terms, excluding any lease renewals, unless the lease renewals are reasonably assured. Capital lease assets with transfer-of-ownership or bargain-purchase-options are depreciated using the straight-line method over the assets’ estimated useful lives. | |||||||||||||||||||||||||
Impairment of Long-Lived Assets and Amortizing Intangible Assets | |||||||||||||||||||||||||
Long-lived assets, such as property and equipment and purchased intangible assets subject to depreciation or amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. No impairments were recorded during the years ended December 31, 2014, 2013, or 2012. | |||||||||||||||||||||||||
Among others, management believes the following circumstances are important indicators of potential impairment of such assets and as a result may trigger an impairment review: | |||||||||||||||||||||||||
● Significant underperformance in comparison to historical or projected operating results; | |||||||||||||||||||||||||
● Significant changes in the manner or use of acquired assets or the Company’s overall strategy; | |||||||||||||||||||||||||
● Significant negative trends in the Company’s industry or the overall economy; | |||||||||||||||||||||||||
● A significant decline in the market price for the Company’s common stock for a sustained period; and | |||||||||||||||||||||||||
● The Company’s market capitalization falling below the book value of the Company’s net assets. | |||||||||||||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||||||||||||
Intangible assets include customer relationships, trade names, technology, non-compete agreements and goodwill. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company reviews intangible assets with indefinite lives for impairment annually as of October 1 and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. | |||||||||||||||||||||||||
When performing the impairment assessment, the Company will first assess qualitative factors to determine whether it is necessary to recalculate the fair value of the intangible assets with indefinite lives. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of the indefinite-lived intangibles is less than their carrying amount, the Company calculates the fair value using a market approach. If the carrying value of intangible assets with indefinite lives exceeds their fair value, then the intangible assets are written-down to their fair values. The Company did not recognize any impairments related to indefinite-lived intangibles during 2014, 2013 or 2012. | |||||||||||||||||||||||||
Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. All of the Company’s goodwill is allocated to its reporting units, which are the same as its operating segments. Goodwill is reviewed for impairment at least annually, as of October 1, and whenever events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. | |||||||||||||||||||||||||
The Company reviews for goodwill impairment by first assessing qualitative factors to determine whether any impairment may exist. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative two-step test is required; otherwise, no further testing is required. Under the first step of the quantitative test, the fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit exceeds its carrying value, step two is not performed. If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the Company performs step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the fair value of that goodwill. The fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the fair value of the reporting unit goodwill. | |||||||||||||||||||||||||
In instances when a step two is required, the fair value of the reporting unit is determined using an income approach and comparable market multiples. Under the income approach, there are a number of inputs used to calculate the fair value using a discounted cash flow model, including operating results, business plans, projected cash flows and a discount rate. Discount rates, growth rates and cash flow projections are the most sensitive and susceptible to change as they require significant management judgment. Discount rates are determined by using a weighted average cost of capital, which considers market and industry data. Management develops growth rates and cash flow projections for each reporting unit considering industry and Company-specific historical and projected information. Terminal value rate determination follows common methodology of capturing the present value of perpetual cash flow estimates beyond the last projected period assuming a constant weighted average cost of capital and low long-term growth rates. Under the market approach, the Company considers its market capitalization, comparisons to other public companies’ data, and recent transactions of similar businesses within the Company’s industry. | |||||||||||||||||||||||||
The Company performed a qualitative analysis as of October 1, 2014 which did not indicate that it was more likely than not that the carrying values of the reporting units exceeded fair value. No impairments were recorded during the years ended December 31, 2014, 2013 or 2012. | |||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||
During 2014, the Company changed its operating segments from two to three to reflect a change in corporate reporting structure to the Company’s Chief Executive Officer and chief operating decision maker. The Company’s three operating segments are aggregated into one reporting segment because they have similar economic characteristics and meet the other aggregation criteria from the Financial Accounting Standards Board (“FASB”) guidance on segment disclosure. The three operating segments are National Research Corporation (United States), National Research Corporation Canada and Connect, each of which offer a portfolio of solutions to address specific market needs around growth, retention, engagement and thought leadership for healthcare organizations. | |||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||
The Company uses the asset and liability method of accounting for income taxes. Under that method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances, if any, are established when necessary to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company uses the deferral method of accounting for its investment tax credits related to state tax incentives. During the years ended December 31, 2014, 2013 and 2012, the Company recorded income tax benefits relating to these tax credits of $224,000, $290,000, and $289,000, respectively. | |||||||||||||||||||||||||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. | |||||||||||||||||||||||||
The Company had an unrecognized tax benefit at December 31, 2014 and 2013, of $360,000 and $188,000, respectively, excluding interest of $8,000 and $5,000, respectively, and penalties in 2014 of $7,000. Of these amounts, $210,000 and $188,000 at December 31, 2014 and 2013, respectively, represents the net unrecognized tax benefits that, if recognized, would favorably impact the effective income tax rate. The remaining $150,000 at December 31, 2014 would have no impact on the effective tax rate, if recognized. The Company accrues interest and penalties related to uncertain tax position in the statements of income as income tax expense. The Company is not subject to tax examinations for years prior to 2011 in the U.S. and 2010 in Canada. | |||||||||||||||||||||||||
Share-Based Compensation | |||||||||||||||||||||||||
The Company measures and recognizes compensation expense for all share-based payments. The compensation expense is recognized based on the grant-date fair value of those awards. All of the Company’s existing stock option awards and non-vested stock awards have been determined to be equity-classified awards. | |||||||||||||||||||||||||
Amounts recognized in the financial statements with respect to these plans: | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Amounts charged against income, before income tax benefit | $ | 742 | $ | 955 | $ | 388 | |||||||||||||||||||
Amount of related income tax benefit | 269 | 377 | 153 | ||||||||||||||||||||||
Total impact to net income | $ | 473 | $ | 578 | $ | 235 | |||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash equivalents were $39.1 million and $21.2 million as of December 31, 2014, and 2013, respectively, consisting primarily of money market accounts and funds invested in commercial paper. At certain times, cash equivalent balances may exceed federally insured limits. | |||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
The Company’s valuation techniques are based on maximizing observable inputs and minimizing the use of unobservable inputs when measuring fair value. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect the Company’s market assumptions. The inputs are then classified into the following hierarchy: (1) Level 1 Inputs—quoted prices in active markets for identical assets and liabilities; (2) Level 2 Inputs—observable market-based inputs other than Level 1 inputs, such as quoted prices for similar assets or liabilities in active markets, quoted prices for similar or identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data; (3) Level 3 Inputs—unobservable inputs. | |||||||||||||||||||||||||
The following details the Company’s financial assets and liabilities within the fair value hierarchy at December 31, 2014 and 2013: | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||
Money Market Funds | $ | 9,442 | $ | -- | $ | -- | $ | 9,442 | |||||||||||||||||
Commercial Paper | $ | 29,686 | $ | -- | $ | -- | $ | 29,686 | |||||||||||||||||
Total | $ | 39,128 | $ | -- | $ | -- | $ | 39,128 | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Money Market Funds | $ | 7,266 | $ | -- | $ | -- | $ | 7,266 | |||||||||||||||||
Commercial Paper | $ | 13,976 | $ | -- | $ | -- | $ | 13,976 | |||||||||||||||||
Total | $ | 21,242 | $ | -- | $ | -- | $ | 21,242 | |||||||||||||||||
There were no transfers between levels during the years ended December 31, 2014 and 2013. | |||||||||||||||||||||||||
The Company's long-term debt described in Note 6 is recorded at historical cost. The fair value of long-term debt is classified in Level 2 of the fair value hierarchy and was estimated based primarily on estimated current rates available for debt of the same remaining duration and adjusted for nonperformance and credit. | |||||||||||||||||||||||||
The following are the carrying amount and estimated fair values of long-term debt: | |||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Total carrying amount of long-term debt | $ | 8,068 | $ | 10,324 | |||||||||||||||||||||
Estimated fair value of long-term debt | $ | 7,997 | $ | 10,156 | |||||||||||||||||||||
The Company believes that the carrying amounts of accounts receivable, accounts payable, and accrued expenses approximate their fair value. All non-financial assets that are not recognized or disclosed at fair value in the financial statements on a recurring basis, which includes goodwill and non-financial long-lived assets, are measured at fair value in certain circumstances (for example, when there is evidence of impairment). As of December 31, 2014 and 2013, there was no impairment related to property and equipment, goodwill and other intangible assets. | |||||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||||
From time to time, the Company is involved in certain claims and litigation arising in the normal course of business. Management assesses the probability of loss for such contingencies and recognizes a liability when a loss is probable and estimable. At December 31, 2014, the Company was not engaged in any legal proceedings that are expected, individually or in the aggregate, to have a material effect on the Company. | |||||||||||||||||||||||||
Earnings Per Share | |||||||||||||||||||||||||
Net income per share of class A common stock and class B common stock is computed using the two-class method. Basic net income per share is computed by allocating undistributed earnings to common shares and using the weighted-average number of common shares outstanding during the period. | |||||||||||||||||||||||||
Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method. | |||||||||||||||||||||||||
The liquidation rights and the rights upon the consummation of an extraordinary transaction are the same for the holders of class A common stock and class B common stock. Other than share distributions and liquidation rights, the amount of any dividend or other distribution payable on each share of class A common stock will be equal to one-sixth (1/6th) of the amount of any such dividend or other distribution payable on each share of class B common stock. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the class A and class B common stock as if the earnings for the year had been distributed. | |||||||||||||||||||||||||
At December 31, 2014, 2013, and 2012, the Company had 347,852, 99,562 and 92,460 options of class A shares and 21,248, 6,407, and 15,410 options of class B shares, respectively, which have been excluded from the diluted net income per share computation because the exercise price exceeds the fair market value. | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | ||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||
Numerator for net income per share - basic: | |||||||||||||||||||||||||
Allocation of distributed earnings | $ | 1,254 | $ | 1,258 | $ | 1,071 | $ | 1,071 | $ | 8,681 | $ | 8,681 | |||||||||||||
Allocation of undistributed earnings | 7,808 | 7,836 | 6,670 | 6,672 | (1,147 | ) | (1,147 | ) | |||||||||||||||||
Net income attributable to common shareholders | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||
Denominator for net income per share - basic: | |||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||
Net income per share - basic | $ | 0.44 | $ | 2.62 | $ | 0.37 | $ | 2.25 | $ | 0.37 | $ | 2.22 | |||||||||||||
Numerator for net income per share - diluted: | |||||||||||||||||||||||||
Net income attributable to common shareholders for | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||
basic computation | |||||||||||||||||||||||||
Denominator for net income per share - diluted: | |||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||
Weighted average effect of dilutive securities: | |||||||||||||||||||||||||
Stock Options | 282 | 58 | 388 | 61 | 492 | 82 | |||||||||||||||||||
Restricted Stock | 30 | 5 | 34 | 6 | 37 | 6 | |||||||||||||||||||
Weighted average common shares outstanding - diluted | 21,076 | 3,536 | 21,099 | 3,514 | 20,854 | 3,476 | |||||||||||||||||||
Net income per share - diluted | $ | 0.43 | $ | 2.57 | $ | 0.37 | $ | 2.2 | $ | 0.36 | $ | 2.17 | |||||||||||||
Note_2_Acquisitions
Note 2 - Acquisitions | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Business Combinations [Abstract] | |||||||||
Business Combination Disclosure [Text Block] | (2) Acquisitions | ||||||||
On October 28, 2014, the Company acquired Digital Assent, LLC (“Digital Assent”), a company with a healthcare technology platform. The acquisition creates a Center of Excellence in Atlanta, Georgia, responsible for developing novel solutions to enhance consumer decision-making in the selection of healthcare providers. The all-cash consideration paid at closing was $2.6 million. | |||||||||
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed at the acquisition date, and the weighted average life of the long-lived assets. | |||||||||
Amount of Identified Assets Acquired and Liabilities Assumed | |||||||||
($ in thousands) | |||||||||
Current Assets | $ | 36 | |||||||
Property and equipment | 16 | ||||||||
Customer relationships | 382 | ||||||||
Technology | 1,110 | ||||||||
Goodwill | 1,124 | ||||||||
Other Long Term Assets | 23 | ||||||||
Total acquired assets | 2,691 | ||||||||
Current liabilities | (117 | ) | |||||||
Net assets acquired | $ | 2,574 | |||||||
The identifiable intangible assets are being amortized over their estimated useful lives and have a total weighted average amortization period of 7.26 years. The goodwill and identifiable intangible assets are deductible for tax purposes. Goodwill related to the acquisition was primarily attributable to anticipated synergies and other intangibles that do not qualify for separate recognition. The fair value of the customer relationships, technology and goodwill assets are subject to refinement as the Company completes its analysis of the fair values at the date of acquisition. | |||||||||
The consolidated financial statements as of December 31, 2014 and for the year then ended include amounts acquired from, as well as the results of operations of the acquired entity from October 28, 2014 forward. Results of operations for the year ended December 31, 2014 include revenue of $95,000 and an operating loss of $548,000 attributable to the acquired entity since acquisition. Acquisition-related costs of $52,000 are included in selling, general and administrative expenses for the year ended December 31, 2014. | |||||||||
The following unaudited pro forma information for the Company has been prepared as if the acquisition had occurred on January 1, 2013. The information is based on the historical results of the separate companies and may not necessarily be indicative of the results that could have been achieved or of results that may occur in the future. The pro forma adjustments include the impact of depreciation and amortization of property and equipment and intangible assets acquired, interest expense of debt not assumed in the acquisition and income tax benefits of the acquired entity. | |||||||||
Year Ended December 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands, except per share data) | |||||||||
Revenue | $ | 99,266 | $ | 92,989 | |||||
Net income | $ | 17,642 | $ | 14,660 | |||||
Basic Earnings per share – Class A | $ | 0.42 | $ | 0.35 | |||||
Basic Earnings per share – Class B | $ | 2.54 | $ | 2.13 | |||||
Diluted Earnings per share – Class A | $ | 0.42 | $ | 0.35 | |||||
Diluted earnings per share – Class B | $ | 2.5 | $ | 2.09 | |||||
During October 2014, the Company also made an investment which includes an option for a potential acquisition of a partner company that has developed a talent-matching solution to accelerate the formation of high-performing teams. The cash consideration paid was $800,000, of which $657,000 was allocated to the purchase option and the remaining $143,000 to a license and work to be performed. The option provides NRC with the right to acquire the partner company for $4.1 million on or before March 31, 2015. |
Note_3_Variable_Interest_Entit
Note 3 - Variable Interest Entity | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block [Abstract] | |
Variable Interest Entity Disclosure [Text Block] | (3) Variable Interest Entity |
Connect was formed in June 2013 to develop and commercialize the Connect programs. Connect programs provide healthcare organizations the technology to engage patients through real-time identification and management of individual patient needs, preferences, risks, and experiences. The platform ensures that organizations have access to a longitudinal view of the patient to more effectively manage patient engagement across the continuum of care. NRC has a 49% ownership interest in Connect. NG Customer-Connect, LLC holds 25% interest, and the remaining 26% is held by Illuminate Health, LLC. NRC has agreed to lease certain employees to Connect. In return for a fee, Connect will service the Company’s discharge call program clients. NRC made capital contributions to Connect totaling $2.8 million through December 31, 2014 and will make additional capital contributions of up to $1.3 million on an as-needed basis as determined by the Board of Directors of Connect. Profits and losses are allocated under the hypothetical liquidation at book value approach. | |
NRC is deemed the primary beneficiary of Connect. An entity is considered the primary beneficiary of a variable interest entity if it has both the power to direct the activities of the variable interest entity that most significantly impact the variable interest entity’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the variable interest entity. Connect is thinly capitalized and relies on NRC advances and reimbursements to fund its operations. Together, NRC and NRC associates hold a majority of the voting rights on Connect’s board of directors and has the ability to direct the majority of Connect’s operations. | |
NRC has a future obligation to purchase the other equity units in Connect when certain targeted events have been achieved. If, at any time, there is at least $12.5 million of annual recurring contract value, including the NRC contracts being serviced, and the members have approved a financial statement showing a pro forma minimum 35% EBITDA margin for revenue on a going-forward basis, then within 90 days thereafter NRC is required to purchase from the other members, and the other members shall be required to sell to NRC, all of their equity units not owned by NRC. As of December 31 2014, the price at which NG Customer-Connect, LLC and Illuminate Health LLC had the obligation to sell their equity units to NRC was $0. | |
Included in the Company’s consolidated financial statements was Connect’s net operating loss of $1.5 million and $837,000 for the years ended December 31, 2014 and 2013, respectively. The net operating loss of Connect during 2014 and 2013 was attributable to NRC. Connect had total assets of $784,000 and $649,000 and total liabilities of $309,000 and $186,000 as of December 31, 2014 and 2013. |
Note_4_Property_and_Equipment
Note 4 - Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | (4) Property and Equipment | ||||||||
At December 31, 2014, and 2013, property and equipment consisted of the following: | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Furniture and equipment | $ | 4,675 | $ | 4,015 | |||||
Computer equipment and software | 20,055 | 18,569 | |||||||
Building | 9,577 | 9,322 | |||||||
Land | 425 | 425 | |||||||
34,732 | 32,331 | ||||||||
Less accumulated depreciation and amortization | 22,589 | 20,433 | |||||||
Net property and equipment | $ | 12,143 | $ | 11,898 | |||||
Depreciation and amortization expense related to property and equipment, including assets under capital lease, for the years ended December 31, 2014, 2013, and 2012 was $3.0 million, $2.8 million, and $3.4 million, respectively. | |||||||||
Property and equipment included the following amounts under capital lease: | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Furniture and equipment | $ | 767 | $ | 519 | |||||
Computer equipment and software | 55 | 47 | |||||||
822 | 566 | ||||||||
Less accumulated amortization | 414 | 294 | |||||||
Net assets under capital lease | $ | 408 | $ | 272 | |||||
Note_5_Goodwill_and_Intangible
Note 5 - Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | (5) Goodwill and Intangible Assets | ||||||||||||||||
Goodwill and intangible assets consisted of the following at December 31, 2014: | |||||||||||||||||
Accumulated Amortization | |||||||||||||||||
Useful Life | Gross | Net | |||||||||||||||
(In years) | (In thousands) | ||||||||||||||||
Goodwill | $ | 58,489 | $ | 58,489 | |||||||||||||
Non-amortizing intangible assets: | |||||||||||||||||
Indefinite trade name | 1,191 | 1,191 | |||||||||||||||
Amortizing intangible assets: | |||||||||||||||||
Customer related | 15-May | 10,857 | 7,937 | 2,920 | |||||||||||||
Technology | 7 | 1,110 | 26 | 1,084 | |||||||||||||
Non-compete agreements | 3 | 430 | 430 | - | |||||||||||||
Trade names | 10-May | 1,902 | 1,640 | 261 | |||||||||||||
Total amortizing intangible assets | 14,299 | 10,033 | 4,265 | ||||||||||||||
Total intangible assets other than goodwill | $ | 15,490 | $ | 10,033 | $ | 5,456 | |||||||||||
Goodwill and intangible assets consisted of the following at December 31, 2013: | |||||||||||||||||
Accumulated Amortization | |||||||||||||||||
Useful Life | Gross | Net | |||||||||||||||
(In years) | (In thousands) | ||||||||||||||||
Goodwill | $ | 57,593 | $ | 57,593 | |||||||||||||
Non-amortizing intangible assets: | |||||||||||||||||
Indefinite trade name | 1,191 | 1,191 | |||||||||||||||
Amortizing intangible assets: | |||||||||||||||||
Customer related | 15-May | 10,499 | 7,334 | 3,165 | |||||||||||||
Non-compete agreements | 3 | 430 | 430 | - | |||||||||||||
Trade names | 10-May | 1,902 | 1,418 | 484 | |||||||||||||
Total amortizing intangible assets | 12,831 | 9,182 | 3,649 | ||||||||||||||
Total intangible assets other than goodwill | $ | 14,022 | $ | 9,182 | $ | 4,840 | |||||||||||
The following represents a summary of changes in the Company’s carrying amount of goodwill for the years ended December 31, 2014, and 2013 (in thousands): | |||||||||||||||||
Balance as of December 31, 2012 | $ | 57,799 | |||||||||||||||
Foreign currency translation | (206 | ) | |||||||||||||||
Balance as of December 31, 2013 | $ | 57,593 | |||||||||||||||
Acquisition | 1,124 | ||||||||||||||||
Foreign currency translation | (228 | ) | |||||||||||||||
Balance as of December 31, 2014 | $ | 58,489 | |||||||||||||||
Aggregate amortization expense for customer related intangibles, trade names, technology and non-competes for the years ended December 31, 2014, 2013 and 2012 was $876,000, $954,000, and $1.3 million, respectively. Estimated amortization expense for the next five years is: 2015—$995,000; 2016—$803,000; 2017—$738,000; 2018—$727,000; 2019—$439,000; thereafter $562,000. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | (6) Income Taxes | ||||||||||||
For the years ended December 31, 2014, 2013, and 2012, income before income taxes consists of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(In thousands) | |||||||||||||
U.S. Operations | $ | 25,338 | $ | 21,882 | $ | 19,836 | |||||||
Foreign Operations | 2,754 | 2,606 | 2,371 | ||||||||||
$ | 28,092 | $ | 24,488 | $ | 22,207 | ||||||||
Income tax expense consisted of the following components: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(In thousands) | |||||||||||||
Federal: | |||||||||||||
Current | $ | 8,578 | $ | 7,169 | $ | 5,488 | |||||||
Deferred | 99 | 195 | 1,140 | ||||||||||
Total | $ | 8,677 | $ | 7,364 | $ | 6,628 | |||||||
Foreign: | |||||||||||||
Current | $ | 714 | $ | 716 | $ | 684 | |||||||
Deferred | 34 | (7 | ) | (6 | ) | ||||||||
Total | $ | 748 | $ | 709 | $ | 678 | |||||||
State: | |||||||||||||
Current | $ | 448 | $ | 1,020 | $ | 787 | |||||||
Deferred | 63 | (89 | ) | (954 | ) | ||||||||
Total | $ | 511 | $ | 931 | $ | (167 | ) | ||||||
Total | $ | 9,936 | $ | 9,004 | $ | 7,139 | |||||||
The difference between the Company’s income tax expense as reported in the accompanying consolidated financial statements and the income tax expense that would be calculated applying the U.S. federal income tax rate of 35% for 2014, 2013, and 2012 on pretax income was as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(In thousands) | |||||||||||||
Expected federal income taxes | $ | 9,832 | $ | 8,571 | $ | 7,772 | |||||||
Foreign tax rate differential | (239 | ) | (226 | ) | (203 | ) | |||||||
State income taxes, net of federal benefit and state tax credits | 332 | 605 | 552 | ||||||||||
Federal tax credits | (150 | ) | (217 | ) | (282 | ) | |||||||
Uncertain tax positions | 182 | (43 | ) | (73 | ) | ||||||||
Deferred tax adjustment due to change in state tax law | 58 | -- | (875 | ) | |||||||||
Recapitalization expenses | -- | 182 | -- | ||||||||||
Release of valuation allowance | 1,124 | 14 | 214 | ||||||||||
Expiration of capital loss carryforward | (1,124 | ) | -- | -- | |||||||||
Other | (79 | ) | 118 | 34 | |||||||||
Total | $ | 9,936 | $ | 9,004 | $ | 7,139 | |||||||
Deferred tax assets and liabilities at December 31, 2014 and 2013, were comprised of the following: | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 71 | $ | 63 | |||||||||
Accrued expenses | 529 | 497 | |||||||||||
Share based compensation | 1,239 | 1,113 | |||||||||||
Capital loss carryforward | -- | 1,124 | |||||||||||
Other | 38 | 39 | |||||||||||
Gross deferred tax assets | 1,877 | 2,836 | |||||||||||
Less Valuation Allowance | -- | (1,124 | ) | ||||||||||
Deferred tax assets | 1,877 | 1,712 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Prepaid expenses | 251 | 286 | |||||||||||
Property and equipment | 1,319 | 1,426 | |||||||||||
Intangible assets | 7,308 | 6,879 | |||||||||||
Other | 82 | 7 | |||||||||||
Deferred tax liabilities | 8,960 | 8,598 | |||||||||||
Net deferred tax liabilities | $ | (7,083 | ) | $ | (6,886 | ) | |||||||
At December 31, 2014 and 2013, net deferred tax assets of $349,000 and $53,000 respectively, were included in current deferred income taxes. At December 31, 2014 and 2013, net deferred tax liabilities of $7.4 million and $6.9 million, respectively, were included in long term deferred income taxes. | |||||||||||||
In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers projected future taxable income, carry-back opportunities, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods which the deferred tax assets are deductible, the Company believes it is more likely than not that it will realize the benefits of these deductible differences, net of the valuation allowance recorded. The net impact on income tax expense related to changes in the valuation allowance for 2014, 2013, and 2012, were $1.1 million, $14,000 and $214,000 respectively. | |||||||||||||
The Company had domestic capital loss carryforwards that expired in 2014. The total $3.1 million of the capital loss carryforwards related to the pre-acquisition periods of acquired companies, and the Company had provided a $1.1 million valuation allowance against the $1.1 million tax benefit associated with the capital loss carryforwards. | |||||||||||||
The undistributed foreign earnings of the Company’s foreign subsidiary of approximately $12.7 million are considered to be indefinitely reinvested. Accordingly, no provision for U.S. federal and state income taxes or foreign withholding taxes has been provided for such undistributed earnings. The Company estimated at December 31, 2014, that an additional tax liability of $609,000 would become due if repatriation of undistributed earnings would occur. | |||||||||||||
The Company had an unrecognized tax benefit at December 31, 2014 and 2013, of $360,000 and $188,000, respectively, excluding interest of $8,000 and $5,000, respectively, and penalties in 2014 of $7,000. Of these amounts, $210,000 and $188,000 at December 31, 2014 and 2013, respectively, represents the net unrecognized tax benefits that, if recognized, would favorably impact the effective income tax rate. The remaining $150,000 at December 31, 2014 would have no impact on the effective tax rate, if recognized. The Company accrues interest and penalties related to uncertain tax position in the statements of income as income tax expense. | |||||||||||||
The change in the unrecognized tax benefits for 2014 and 2013 is as follows: | |||||||||||||
(In thousands) | |||||||||||||
Balance of unrecognized tax benefits at December 31, 2012 | $ | 224 | |||||||||||
Reductions due to lapse of applicable statute of limitations | (91 | ) | |||||||||||
Additions based on tax positions of prior years | 27 | ||||||||||||
Additions based on tax positions related to the current year | 28 | ||||||||||||
Balance of unrecognized tax benefits at December 31, 2013 | $ | 188 | |||||||||||
Reductions due to lapse of applicable statute of limitations | (26 | ) | |||||||||||
Additions based on tax positions of prior years | 10 | ||||||||||||
Additions based on tax positions related to the current year | 195 | ||||||||||||
Balance of unrecognized tax benefits at December 31, 2014 | $ | 367 | |||||||||||
The Company files a U.S. federal income tax return, various state jurisdictions and a Canada federal and provincial income tax return. The 2011 to 2014 U.S. federal and state returns remain open to examination. The 2010 to 2014 Canada federal and provincial income tax returns remain open to examination. |
Note_7_Notes_Payable
Note 7 - Notes Payable | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Debt Disclosure [Text Block] | -7 | Notes Payable | |||||||||||||||||||||||
Notes payable consisted of the following: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Revolving credit note with U.S. Bank, maximum available $6.5 million subject to borrowing base, matures June 30, 2015 | $ | -- | $ | -- | |||||||||||||||||||||
Note payable to U.S. Bank for $11.8 million, interest at a 3.12% fixed rate, 60 monthly principal and interest payments of $212,468 through April 2018 | 8,068 | 10,324 | |||||||||||||||||||||||
Total notes payable | 8,068 | 10,324 | |||||||||||||||||||||||
Less current portion | 2,328 | 2,256 | |||||||||||||||||||||||
Note payable, net of current portion | $ | 5,740 | $ | 8,068 | |||||||||||||||||||||
The Company also has a revolving credit note that was renewed in June 2014 to extend the term to June 30, 2015. The maximum aggregate amount available under the revolving credit note is $6.5 million, subject to a borrowing base equal to 75.0% of the Company’s eligible accounts receivable. Borrowings under the revolving credit note bear interest at a variable annual rate, with three rate options at the discretion of management as follows: (1) 2.5% plus the daily reset one-month London Interbank Offered Rate (“LIBOR”) or (2) 2.2% plus the one-, two- or three- month LIBOR rate, or (3) the bank’s one-, two, three, six, or twelve month Money Market Loan Rate. As of December 31, 2014 the revolving credit note did not have a balance. According to the borrowing base requirements, the Company had the capacity to borrow $6.5 million as of December 31, 2014. | |||||||||||||||||||||||||
The term note and revolving credit note are secured by certain of the Company’s assets, including the Company’s land, building, accounts receivable and intangible assets. The term note and the revolving credit note contain various restrictions and covenants applicable to the Company, including requirements that the Company maintain certain financial ratios at prescribed levels and restrictions on the ability of the Company to consolidate or merge, create liens, incur additional indebtedness or dispose of assets. As of December 31, 2014, the Company was in compliance with the financial covenants. | |||||||||||||||||||||||||
The remaining note payable maturities for each year subsequent to December 31, 2014, are as follows: | |||||||||||||||||||||||||
Total | 2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
Payments | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Notes payable | $ | 8,068 | $ | 2,328 | $ | 2,403 | $ | 2,480 | $ | 857 | $ | -- | |||||||||||||
Note_8_Sharebased_Compensation
Note 8 - Share-based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | -8 | Share-Based Compensation | |||||||||||||||
The Company measures and recognizes compensation expense for all share-based payments based on the grant-date fair value of those awards. All of the Company’s existing stock option awards and non-vested stock awards have been determined to be equity-classified awards. | |||||||||||||||||
The National Research Corporation 2001 Equity Incentive Plan (“2001 Equity Incentive Plan”) provided for the granting of stock options, stock appreciation rights, restricted stock, performance shares and other share-based awards and benefits up to an aggregate of 1,800,000 shares of class A common stock and 300,000 shares of class B common stock. Stock options granted could have been either nonqualified or incentive stock options. Stock options vest over one to five years following the date of grant and option terms are generally five to ten years following the date of grant. Due to the expiration of the 2001 Equity Incentive Plan, at December 31, 2014, there were no shares of stock available for future grants. The Company has accounted for grants of 1,683,309 class A and 280,552 class B options and restricted stock under the 2001 Equity Incentive Plan using the date of grant as the measurement date for financial accounting purposes. | |||||||||||||||||
The Company’s 2004 Non-Employee Director Stock Plan (the “2004 Director Plan”) is a nonqualified plan that provides for the granting of options with respect to 1,650,000 shares of class A common stock and 275,000 shares of class B common stock. The 2004 Director Plan provides for grants of nonqualified stock options to each director of the Company who is not employed by the Company. On the date of each annual meeting of shareholders of the Company, options to purchase 36,000 shares of class A common stock and 6,000 shares of class B common stock are granted to directors that are elected or retained as a director at such meeting. Stock options vest one year following the date of grant and option terms are generally ten years following the date of grant, or three years in the case of termination of the outside director’s service. At December 31, 2014, there were 75,000 shares of class A common stock and 12,500 shares of class B common stock available for issuance pursuant to future grants under the 2004 Director Plan. The Company has accounted for grants of 1,575,000 class A and 262,500 class B options under the 2004 Director Plan using the date of grant as the measurement date for financial accounting purposes. | |||||||||||||||||
The National Research Corporation 2006 Equity Incentive Plan (the “2006 Equity Incentive Plan”) provides for the granting of stock options, stock appreciation rights, restricted stock, performance shares and other share-based awards and benefits up to an aggregate of 1,800,000 shares of class A common stock and 300,000 shares of class B common stock. Stock options granted may be either incentive stock options or nonqualified stock options. Vesting terms vary with each grant and option terms are generally five to ten years following the date of grant. At December 31, 2014, there were 1,143,147 shares of class A common stock and 191,802 shares of class B common stock available for issuance pursuant to future grants under the 2006 Equity Incentive Plan. The Company has accounted for grants of 656,853 class A and 108,198 class B options and restricted stock under the 2006 Equity Incentive Plan using the date of grant as the measurement date for financial accounting purposes. | |||||||||||||||||
The Company granted options to purchase 204,166 shares of the Company’s class A common stock and 32,217 shares of the class B common stock during 2014. During 2013, the Company granted options to purchase 232,344 shares of class A common stock and 38,718 shares of class B common stock, and during 2012 granted options to purchase 238,890 shares of class A common stock and 39,815 shares of class B common stock. Options to purchase shares of common stock are typically granted with exercise prices equal to the fair value of the common stock on the date of grant. The Company does, in certain limited situations, grant options with exercise prices that exceed the fair value of the common shares on the date of grant. The fair value of stock options granted was estimated using a Black-Scholes valuation model with the following assumptions: | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Class A | Class B | Pre-Recapitalization | |||||||||||||||
Expected dividend yield at date of grant | 1.47 to 1.97% | 4.03 to 4.87% | 2.26 to 3.46% | 2.63 to 3.98% | |||||||||||||
Expected stock price volatility | 27.52 to 32.03% | 30.13 to 32.65% | 30.34 to 30.51% | 29.10 to 31.70% | |||||||||||||
Risk-free interest rate | 1.63 to 2.37% | 1.63 to 2.37% | 0.55 to 1.07% | 0.56 to 1.15% | |||||||||||||
Expected life of options (in years) | 5 to 7 | 5 to 7 | 4 to 6 | 4 to 6 | |||||||||||||
The risk-free interest rate assumptions were based on the U.S. Treasury yield curve in effect at the time of the grant. The expected volatility was based on historical monthly price changes of the Company’s stock based on the expected life of the options at the date of grant. The expected life of options is the average number of years the Company estimates that options will be outstanding. The Company considers groups of associates that have similar historical exercise behavior separately for valuation purposes. | |||||||||||||||||
The following table summarizes stock option activity under the 2001 and 2006 Equity Incentive Plans and the 2004 Director Plan for the year ended December 31, 2014: | |||||||||||||||||
Number of | Weighted Average Exercise | Weighted Average Remaining Contractual Terms (Years) | Aggregate Intrinsic | ||||||||||||||
Options | Price | Value | |||||||||||||||
(In thousands) | |||||||||||||||||
Class A | |||||||||||||||||
Outstanding at December 31, 2013 | 1,444,845 | $ | 10.21 | ||||||||||||||
Granted | 204,166 | $ | 15.41 | ||||||||||||||
Exercised | (140,595 | ) | $ | 6.76 | $ | 1,468 | |||||||||||
Forfeited | (183,896 | ) | $ | 12.4 | |||||||||||||
Outstanding at December 31, 2014 | 1,324,520 | $ | 11.07 | 6.3 | $ | 4,566 | |||||||||||
Exercisable at December 31, 2014 | 787,413 | $ | 10.7 | 5.56 | $ | 3,005 | |||||||||||
Class B | |||||||||||||||||
Outstanding at December 31, 2013 | 234,802 | $ | 20.76 | ||||||||||||||
Granted | 32,217 | $ | 43.24 | ||||||||||||||
Exercised | (23,432 | ) | $ | 15.25 | $ | 502 | |||||||||||
Forfeited | (30,117 | ) | $ | 23.82 | |||||||||||||
Outstanding at December 31, 2014 | 213,470 | $ | 24.32 | 6.34 | $ | 2,724 | |||||||||||
Exercisable at December 31, 2014 | 125,234 | $ | 21.64 | 5.62 | $ | 1,794 | |||||||||||
The weighted average grant date fair value of stock options granted during 2014 was $2.14 for class A common stock and $2.16 for class B common stock. The weighted average grant date fair value of stock options granted during the years ended 2013 and 2012 was $3.24 and $2.43, respectively, for both class A and class B common stock. The total intrinsic value of stock options exercised during 2014 was $1.5 million for the shares of class A common stock and $502,000 for the shares of class B common stock. The total intrinsic value of stock options exercised was $1.1 million for the shares of class A common stock and $992,000 for the shares of class B common stock for 2013, and $5.6 million for the shares of class A common stock and $941,000 for the shares of class B common stock for 2012. The total intrinsic value of stock options vested during 2014 was $528,000 for the shares of class A common stock and $402,000 for the shares of class B common stock. The total intrinsic value of stock options vested was $1.5 million for the shares of class A common stock and $514,000 for the shares of class B common stock for 2013, and $2.3 million for the shares of class A common stock and $376,000 for the shares of class B common stock for 2012. As of December 31, 2014, the total unrecognized compensation cost related to non-vested stock option awards was approximately $487,000 and $126,000 for class A and class B common stock shares, respectively, which was expected to be recognized over a weighted average period of 1.82 years and 1.15 years for class A and class B common stock shares, respectively. | |||||||||||||||||
Cash received from stock options exercised for the years ended December 31, 2014, 2013, and 2012 was $408,000, $840,000, and $1.3 million, respectively. The actual tax benefit realized for the tax deduction from stock options exercised was $622,000, $753,000 and $2.0 million, for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||||
During 2014, the Company granted 73,506 and 12,251 non-vested shares of class A and class B common stock, respectively, under the 2006 Equity Incentive Plan. No non-vested shares of common stock were granted during 2013. During 2012, the Company granted 23,469 and 3,912 non-vested shares of class A and class B common stock, respectively, under the 2006 Equity Incentive Plan. As of December 31, 2014, the Company had 110,647 and 18,441 non-vested shares of class A and class B common stock, respectively, outstanding under the 2006 Equity Incentive Plan. These shares vest over one to five years following the date of grant and holders thereof are entitled to receive dividends from the date of grant, whether or not vested. The fair value of the awards is calculated as the fair market value of the shares on the date of grant. The Company recognized $35,000, $140,000 and $74,000 of non-cash compensation for the years ended December 31, 2014, 2013, and 2012, respectively, related to this non-vested stock. | |||||||||||||||||
The following table summarizes information regarding non-vested stock granted to associates under the 2001 and 2006 Equity Incentive Plans for the year ended December 31, 2014: | |||||||||||||||||
Class A Shares Outstanding | Class A Weighted Average Grant Date Fair Value | Class B Shares Outstanding | Class B Weighted Average Grant Date Fair Value Per Share | ||||||||||||||
Per Share | |||||||||||||||||
Outstanding at December 31, 2013 | 60,609 | $ | 5.77 | 10,101 | $ | 34.65 | |||||||||||
Granted | 73,506 | 13.99 | 12,251 | 38.5 | |||||||||||||
Forfeited | (23,468 | ) | 6.39 | (3,911 | ) | 38.35 | |||||||||||
Outstanding at December 31, 2014 | 110,647 | $ | 11.1 | 18,441 | $ | 36.42 | |||||||||||
As of December 31, 2014, the total unrecognized compensation cost related to non-vested stock awards was approximately $1.5 million and is expected to be recognized over a weighted average period of 4.55 years. |
Note_9_Leases
Note 9 - Leases | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Leases [Abstract] | |||||||||
Leases of Lessor Disclosure [Text Block] | (9) Leases | ||||||||
The Company leases printing equipment in the United States, and office space in Canada, California, Georgia, Nebraska and Washington. The Company recorded rent expense in connection with its operating leases of $840,000, $720,000, and $715,000 in 2014, 2013, and 2012, respectively. The Company also has capital leases for production, mailing and computer equipment. | |||||||||
Payments under non-cancelable operating leases and capital leases at December 31, 2014 are: | |||||||||
Year Ending December 31, | Capital | Operating Leases | |||||||
Leases | |||||||||
(In thousands) | |||||||||
2015 | $ | 173 | $ | 703 | |||||
2016 | 74 | 592 | |||||||
2017 | 65 | 411 | |||||||
2018 | 33 | 292 | |||||||
2019 | -- | 104 | |||||||
Total minimum lease payments | 345 | ||||||||
Less: Amount representing interest | 27 | ||||||||
Present value of minimum lease payments | 318 | ||||||||
Less: Current maturities | 151 | ||||||||
Capital lease obligations, net of current portion | $ | 167 | |||||||
Note_10_Related_Party
Note 10 - Related Party | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | (10) Related Party |
A Board member of the Company also serves as an officer of Ameritas Life Insurance Corp. In connection with the Company’s regular assessment of its insurance-based associate benefits and the costs associated therewith, in 2007 the Company began purchasing dental insurance for certain of its associates from Ameritas Life Insurance Corp. and, in 2009, the Company also began purchasing vision insurance for certain of its associates from Ameritas Life Insurance Corp. The total value of these purchases was $207,000, $212,000 and $198,000 in 2014, 2013 and 2012 respectively. | |
Michael Hays, our Chief Executive Officer, is a director and owner of 14% of the equity interests of Nebraska Global Investment Company LLC. In 2013 and 2012, the Company purchased certain technology consulting and software development services from Nebraska Global Investment Company LLC. There were no purchases in 2014. The total value of these purchases was $57,000 and $55,000 in 2013 and 2012 respectively. |
Note_11_Associate_Benefits
Note 11 - Associate Benefits | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block Supplement [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | (11) Associate Benefits |
The Company sponsors a qualified 401(k) plan covering substantially all associates with no eligibility service requirement. Under the 401(k) plan, the Company matches 25.0% of the first 6.0% of compensation contributed by each associate. Employer contributions, which are discretionary, vest to participants at a rate of 20% per year. The Company contributed $216,000, $252,000 and $236,000 in 2014, 2013 and 2012, respectively, as a matching percentage of associate 401(k) contributions. |
Note_12_Recent_Accounting_Pron
Note 12 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | (12) Recent Accounting Pronouncements |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The updated accounting guidance is effective for annual and interim reporting periods in fiscal years beginning after December 15, 2016. Early adoption is not permitted. An entity may choose to adopt this ASU either retrospectively or through a cumulative effect adjustment as of the start of the first period for which it applies the standard. The Company is currently in the process of evaluating the impact that this new guidance will have on our consolidated financial statements and our method of adoption. |
Note_13_Segment_Information
Note 13 - Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Segment Reporting Disclosure [Text Block] | (13) Segment Information | ||||||||||||
The Company’s three operating segments are aggregated into one reporting segment because they have similar economic characteristics and meet the other aggregation criteria from the FASB guidance on segment disclosure. The three operating segments are National Research Corporation (United States), National Research Corporation Canada and Connect, each of which offer a portfolio of solutions to address specific market needs around growth, retention, engagement and thought leadership for healthcare organizations. | |||||||||||||
The table below presents entity-wide information regarding the Company’s revenue and assets by geographic area: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(In thousands) | |||||||||||||
Revenue: | |||||||||||||
United States | $ | 92,270 | $ | 85,863 | $ | 79,895 | |||||||
Canada | 6,567 | 6,727 | 6,526 | ||||||||||
Total | $ | 98,837 | $ | 92,590 | $ | 86,421 | |||||||
Long-lived assets: | |||||||||||||
United States | $ | 73,328 | $ | 71,139 | $ | 72,817 | |||||||
Canada | 2,994 | 3,383 | 3,414 | ||||||||||
Total | $ | 76,322 | $ | 74,522 | $ | 76,231 | |||||||
Total assets: | |||||||||||||
United States | $ | 115,730 | $ | 98,074 | $ | 87,670 | |||||||
Canada | 13,780 | 13,014 | 12,376 | ||||||||||
Total | $ | 129,510 | $ | 111,088 | $ | 100,046 | |||||||
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II — Valuation and Qualifying Accounts | ||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at | Bad Debt | Write-offs | Balance | ||||||||||||||
Beginning | Expense | Net of | at End | ||||||||||||||
of Year | Recoveries | of Year | |||||||||||||||
Allowance for doubtful accounts: | |||||||||||||||||
Year Ended December 31, 2012 | $ | 289 | $ | 173 | $ | 218 | $ | 244 | |||||||||
Year Ended December 31, 2013 | $ | 244 | $ | 145 | $ | 206 | $ | 183 | |||||||||
Year Ended December 31, 2014 | $ | 183 | $ | 300 | $ | 282 | $ | 201 | |||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||
Recapitalization [Policy Text Block] | Recapitalization | ||||||||||||||||||||||||||
In May 2013, the Company consummated a recapitalization (the “May 2013 Recapitalization”) pursuant to which the Company established two classes of common stock (class A common stock and class B common stock), issued a dividend of three shares of class A common stock for each share of the Company’s then existing common stock and reclassified each then existing share of common stock as one-half of one share of class B common stock. All previously reported share and per share amounts in the accompanying financial statements and related notes have been restated to reflect the May 2013 Recapitalization. | |||||||||||||||||||||||||||
Consolidation, Policy [Policy Text Block] | Principles of Consolidation | ||||||||||||||||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, National Research Corporation Canada, and a variable interest entity, Customer-Connect LLC (“Connect”), which NRC has been deemed the primary beneficiary. All significant intercompany transactions and balances have been eliminated. | |||||||||||||||||||||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates | ||||||||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||||||||||||||||
Reclassification, Policy [Policy Text Block] | Reclassifications | ||||||||||||||||||||||||||
Certain reclassifications have been made to the 2013 and 2012 financial statement information to conform to the 2014 financial statement presentation. There was no impact on the previously reported net income and earnings per share. | |||||||||||||||||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of Foreign Currencies | ||||||||||||||||||||||||||
The Company’s Canadian subsidiary uses as its functional currency the local currency of the country in which it operates. It translates its assets and liabilities into U.S. dollars at the exchange rate in effect at the balance sheet date. It translates its revenue and expenses at the average exchange rate during the period. The Company includes translation gains and losses in accumulated other comprehensive income (loss), a component of shareholders’ equity. Gains and losses related to transactions denominated in a currency other than the functional currency of the country in which the Company operates and short-term intercompany accounts are included in other income (expense) in the consolidated statements of income. Since the undistributed earnings of the Company’s foreign subsidiary are considered to be indefinitely reinvested, the components of accumulated other comprehensive income (loss) have not been tax effected. | |||||||||||||||||||||||||||
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition | ||||||||||||||||||||||||||
The Company derives a majority of its operating revenue from its annually renewable services, which include performance measurement and improvement services, healthcare analytics and governance education services. The Company provides these services to its clients under annual client service contracts, although such contracts are generally cancelable on short or no notice without penalty. The Company also derives some revenue from its custom and other research projects. | |||||||||||||||||||||||||||
Services are provided under subscription-based service agreements. The Company recognizes subscription-based service revenue over the period of time the service is provided. Generally, the subscription periods are for twelve months and revenue is recognized equally over the subscription period. | |||||||||||||||||||||||||||
Certain contracts are fixed-fee arrangements with a portion of the project fee billed in advance and the remainder billed periodically over the duration of the project. Revenue for services provided under these contracts are recognized under the proportional performance method. Under the proportional performance method, the Company recognizes revenue based on output measures or key milestones such as survey set-up, survey mailings, survey returns and reporting. The Company measures its progress based on the level of completion of these output measures and recognizes revenue accordingly. Management judgments and estimates must be made and used in connection with revenue recognized using the proportional performance method. If management made different judgments and estimates, then the amount and timing of revenue for any period could differ materially from the reported revenue. | |||||||||||||||||||||||||||
The Company’s revenue arrangements with a client may include combinations of performance measurement and improvement services, healthcare analytics or governance education services which may be executed at the same time, or within close proximity of one another (referred to as a multiple-element arrangement). Each element of a multiple-element arrangement is accounted for as a separate unit of accounting provided each delivered element is sold separately by the Company or another vendor; and for an arrangement that includes a general right of return relative to the undelivered elements, delivery or performance of the undelivered services are considered probable and substantially in the control of the Company. The Company’s arrangements generally do not include a general right of return related to the delivered services. If these criteria are not met, the arrangement is accounted for as a single unit of accounting with revenue generally recognized equally over the subscription period or recognized under the proportional performance method. | |||||||||||||||||||||||||||
Revenue is allocated to each separate unit of accounting based on relative selling price using a selling price hierarchy: vendor-specific objective evidence (“VSOE”), if available, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price if VSOE nor TPE is available. VSOE is established based on the services normal selling price and discounts for the specific services when sold separately. TPE is established by evaluating similar competitor services in standalone arrangements. If neither exists for a deliverable, the best estimate of the selling price (“ESP”) is used for that deliverable based on list price, representing a component of management’s market strategy, and an analysis of historical prices for bundled and standalone arrangements. Revenue allocated to an element is limited to revenue that is not subject to refund or otherwise represents contingent revenue. VSOE, TPE and ESP are periodically adjusted to reflect current market conditions. These adjustments are not expected to differ significantly from historical results. | |||||||||||||||||||||||||||
Business Combinations Policy [Policy Text Block] | Business Combinations | ||||||||||||||||||||||||||
The Company uses the acquisition method of accounting for acquired businesses. Under the acquisition method, the financial statements reflect the operations of an acquired business starting from the completion of the acquisition. The assets acquired and liabilities assumed are recorded at their respective estimated fair values at the date of the acquisition. Any excess of the purchase price over the estimated fair values of the indentifiable net assets acquired is recorded as goodwill. Significant judgment is required in estimating the fair value of assets acquired, especially intangible assets. As a result, in the case of significant acquisitions we typically engage third-party valuation specialists in estimating fair values of tangible and intangible assets. The fair value estimates are based on available historical information and on expectations and assumptions about the future, considering the perspective of marketplace participants. | |||||||||||||||||||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Trade Accounts Receivable | ||||||||||||||||||||||||||
Trade accounts receivable are recorded at the invoiced amount. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on specific account analysis and on the Company’s historical write-off experience. The Company reviews the allowance for doubtful accounts monthly. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | |||||||||||||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment | ||||||||||||||||||||||||||
Property and equipment is stated at cost. Major expenditures to purchase property or to substantially increase useful lives of property are capitalized. Maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and resulting gains or losses are included in income. | |||||||||||||||||||||||||||
For costs of software developed for internal use, the Company expenses computer software costs as incurred in the preliminary project stage, which involves the conceptual formulation, evaluation and selection of technology alternatives. Costs incurred related to the design, coding, installation and testing of software during the application project stage are capitalized. Costs for training and application maintenance are expensed as incurred. The Company has capitalized approximately $1.8 million and $1.7 million of internal and external costs incurred for the development of internal-use software for the years ended December 31, 2014 and 2013, respectively, with such costs classified as property and equipment. | |||||||||||||||||||||||||||
The Company provides for depreciation and amortization of property and equipment using annual rates which are sufficient to amortize the cost of depreciable assets over their estimated useful lives. The Company uses the straight-line method of depreciation and amortization over estimated useful lives of three to ten years for furniture and equipment, three to five years for computer equipment, three to five years for capitalized software, and seven to forty years for the Company’s office building and related improvements. | |||||||||||||||||||||||||||
Leases are categorized as operating or capital at the inception of the lease. Assets under capital lease obligations are reported at the lower of fair value or the present value of the aggregate future minimum lease payments at the beginning of the lease term. The Company depreciates capital lease assets without transfer-of-ownership or bargain-purchase-options using the straight-line method over the lease terms, excluding any lease renewals, unless the lease renewals are reasonably assured. Capital lease assets with transfer-of-ownership or bargain-purchase-options are depreciated using the straight-line method over the assets’ estimated useful lives. | |||||||||||||||||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets and Amortizing Intangible Assets | ||||||||||||||||||||||||||
Long-lived assets, such as property and equipment and purchased intangible assets subject to depreciation or amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. No impairments were recorded during the years ended December 31, 2014, 2013, or 2012. | |||||||||||||||||||||||||||
Among others, management believes the following circumstances are important indicators of potential impairment of such assets and as a result may trigger an impairment review: | |||||||||||||||||||||||||||
● Significant underperformance in comparison to historical or projected operating results; | |||||||||||||||||||||||||||
● Significant changes in the manner or use of acquired assets or the Company’s overall strategy; | |||||||||||||||||||||||||||
● Significant negative trends in the Company’s industry or the overall economy; | |||||||||||||||||||||||||||
● A significant decline in the market price for the Company’s common stock for a sustained period; and | |||||||||||||||||||||||||||
● The Company’s market capitalization falling below the book value of the Company’s net assets. | |||||||||||||||||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets | ||||||||||||||||||||||||||
Intangible assets include customer relationships, trade names, technology, non-compete agreements and goodwill. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company reviews intangible assets with indefinite lives for impairment annually as of October 1 and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. | |||||||||||||||||||||||||||
When performing the impairment assessment, the Company will first assess qualitative factors to determine whether it is necessary to recalculate the fair value of the intangible assets with indefinite lives. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of the indefinite-lived intangibles is less than their carrying amount, the Company calculates the fair value using a market approach. If the carrying value of intangible assets with indefinite lives exceeds their fair value, then the intangible assets are written-down to their fair values. The Company did not recognize any impairments related to indefinite-lived intangibles during 2014, 2013 or 2012. | |||||||||||||||||||||||||||
Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. All of the Company’s goodwill is allocated to its reporting units, which are the same as its operating segments. Goodwill is reviewed for impairment at least annually, as of October 1, and whenever events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. | |||||||||||||||||||||||||||
The Company reviews for goodwill impairment by first assessing qualitative factors to determine whether any impairment may exist. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative two-step test is required; otherwise, no further testing is required. Under the first step of the quantitative test, the fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit exceeds its carrying value, step two is not performed. If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the Company performs step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the fair value of that goodwill. The fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the fair value of the reporting unit goodwill. | |||||||||||||||||||||||||||
In instances when a step two is required, the fair value of the reporting unit is determined using an income approach and comparable market multiples. Under the income approach, there are a number of inputs used to calculate the fair value using a discounted cash flow model, including operating results, business plans, projected cash flows and a discount rate. Discount rates, growth rates and cash flow projections are the most sensitive and susceptible to change as they require significant management judgment. Discount rates are determined by using a weighted average cost of capital, which considers market and industry data. Management develops growth rates and cash flow projections for each reporting unit considering industry and Company-specific historical and projected information. Terminal value rate determination follows common methodology of capturing the present value of perpetual cash flow estimates beyond the last projected period assuming a constant weighted average cost of capital and low long-term growth rates. Under the market approach, the Company considers its market capitalization, comparisons to other public companies’ data, and recent transactions of similar businesses within the Company’s industry. | |||||||||||||||||||||||||||
The Company performed a qualitative analysis as of October 1, 2014 which did not indicate that it was more likely than not that the carrying values of the reporting units exceeded fair value. No impairments were recorded during the years ended December 31, 2014, 2013 or 2012. | |||||||||||||||||||||||||||
Segment Reporting, Policy [Policy Text Block] | Segment Information | ||||||||||||||||||||||||||
During 2014, the Company changed its operating segments from two to three to reflect a change in corporate reporting structure to the Company’s Chief Executive Officer and chief operating decision maker. The Company’s three operating segments are aggregated into one reporting segment because they have similar economic characteristics and meet the other aggregation criteria from the Financial Accounting Standards Board (“FASB”) guidance on segment disclosure. The three operating segments are National Research Corporation (United States), National Research Corporation Canada and Connect, each of which offer a portfolio of solutions to address specific market needs around growth, retention, engagement and thought leadership for healthcare organizations. | |||||||||||||||||||||||||||
Income Tax, Policy [Policy Text Block] | Income Taxes | ||||||||||||||||||||||||||
The Company uses the asset and liability method of accounting for income taxes. Under that method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances, if any, are established when necessary to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company uses the deferral method of accounting for its investment tax credits related to state tax incentives. During the years ended December 31, 2014, 2013 and 2012, the Company recorded income tax benefits relating to these tax credits of $224,000, $290,000, and $289,000, respectively. | |||||||||||||||||||||||||||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. | |||||||||||||||||||||||||||
The Company had an unrecognized tax benefit at December 31, 2014 and 2013, of $360,000 and $188,000, respectively, excluding interest of $8,000 and $5,000, respectively, and penalties in 2014 of $7,000. Of these amounts, $210,000 and $188,000 at December 31, 2014 and 2013, respectively, represents the net unrecognized tax benefits that, if recognized, would favorably impact the effective income tax rate. The remaining $150,000 at December 31, 2014 would have no impact on the effective tax rate, if recognized. The Company accrues interest and penalties related to uncertain tax position in the statements of income as income tax expense. The Company is not subject to tax examinations for years prior to 2011 in the U.S. and 2010 in Canada. | |||||||||||||||||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation | ||||||||||||||||||||||||||
The Company measures and recognizes compensation expense for all share-based payments. The compensation expense is recognized based on the grant-date fair value of those awards. All of the Company’s existing stock option awards and non-vested stock awards have been determined to be equity-classified awards. | |||||||||||||||||||||||||||
Amounts recognized in the financial statements with respect to these plans: | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Amounts charged against income, before income tax benefit | $ | 742 | $ | 955 | $ | 388 | |||||||||||||||||||||
Amount of related income tax benefit | 269 | 377 | 153 | ||||||||||||||||||||||||
Total impact to net income | $ | 473 | $ | 578 | $ | 235 | |||||||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents | ||||||||||||||||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash equivalents were $39.1 million and $21.2 million as of December 31, 2014, and 2013, respectively, consisting primarily of money market accounts and funds invested in commercial paper. At certain times, cash equivalent balances may exceed federally insured limits. | |||||||||||||||||||||||||||
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements | ||||||||||||||||||||||||||
The Company’s valuation techniques are based on maximizing observable inputs and minimizing the use of unobservable inputs when measuring fair value. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect the Company’s market assumptions. The inputs are then classified into the following hierarchy: (1) Level 1 Inputs—quoted prices in active markets for identical assets and liabilities; (2) Level 2 Inputs—observable market-based inputs other than Level 1 inputs, such as quoted prices for similar assets or liabilities in active markets, quoted prices for similar or identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data; (3) Level 3 Inputs—unobservable inputs. | |||||||||||||||||||||||||||
The following details the Company’s financial assets and liabilities within the fair value hierarchy at December 31, 2014 and 2013: | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||
Money Market Funds | $ | 9,442 | $ | -- | $ | -- | $ | 9,442 | |||||||||||||||||||
Commercial Paper | $ | 29,686 | $ | -- | $ | -- | $ | 29,686 | |||||||||||||||||||
Total | $ | 39,128 | $ | -- | $ | -- | $ | 39,128 | |||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||
Money Market Funds | $ | 7,266 | $ | -- | $ | -- | $ | 7,266 | |||||||||||||||||||
Commercial Paper | $ | 13,976 | $ | -- | $ | -- | $ | 13,976 | |||||||||||||||||||
Total | $ | 21,242 | $ | -- | $ | -- | $ | 21,242 | |||||||||||||||||||
There were no transfers between levels during the years ended December 31, 2014 and 2013. | |||||||||||||||||||||||||||
The Company's long-term debt described in Note 6 is recorded at historical cost. The fair value of long-term debt is classified in Level 2 of the fair value hierarchy and was estimated based primarily on estimated current rates available for debt of the same remaining duration and adjusted for nonperformance and credit. | |||||||||||||||||||||||||||
The following are the carrying amount and estimated fair values of long-term debt: | |||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
Total carrying amount of long-term debt | $ | 8,068 | $ | 10,324 | |||||||||||||||||||||||
Estimated fair value of long-term debt | $ | 7,997 | $ | 10,156 | |||||||||||||||||||||||
The Company believes that the carrying amounts of accounts receivable, accounts payable, and accrued expenses approximate their fair value. All non-financial assets that are not recognized or disclosed at fair value in the financial statements on a recurring basis, which includes goodwill and non-financial long-lived assets, are measured at fair value in certain circumstances (for example, when there is evidence of impairment). As of December 31, 2014 and 2013, there was no impairment related to property and equipment, goodwill and other intangible assets. | |||||||||||||||||||||||||||
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies | ||||||||||||||||||||||||||
From time to time, the Company is involved in certain claims and litigation arising in the normal course of business. Management assesses the probability of loss for such contingencies and recognizes a liability when a loss is probable and estimable. At December 31, 2014, the Company was not engaged in any legal proceedings that are expected, individually or in the aggregate, to have a material effect on the Company. | |||||||||||||||||||||||||||
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share | ||||||||||||||||||||||||||
Net income per share of class A common stock and class B common stock is computed using the two-class method. Basic net income per share is computed by allocating undistributed earnings to common shares and using the weighted-average number of common shares outstanding during the period. | |||||||||||||||||||||||||||
Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method. | |||||||||||||||||||||||||||
The liquidation rights and the rights upon the consummation of an extraordinary transaction are the same for the holders of class A common stock and class B common stock. Other than share distributions and liquidation rights, the amount of any dividend or other distribution payable on each share of class A common stock will be equal to one-sixth (1/6th) of the amount of any such dividend or other distribution payable on each share of class B common stock. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the class A and class B common stock as if the earnings for the year had been distributed. | |||||||||||||||||||||||||||
At December 31, 2014, 2013, and 2012, the Company had 347,852, 99,562 and 92,460 options of class A shares and 21,248, 6,407, and 15,410 options of class B shares, respectively, which have been excluded from the diluted net income per share computation because the exercise price exceeds the fair market value. | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | ||||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||||
Numerator for net income per share - basic: | |||||||||||||||||||||||||||
Allocation of distributed earnings | $ | 1,254 | $ | 1,258 | $ | 1,071 | $ | 1,071 | $ | 8,681 | $ | 8,681 | |||||||||||||||
Allocation of undistributed earnings | 7,808 | 7,836 | 6,670 | 6,672 | (1,147 | ) | (1,147 | ) | |||||||||||||||||||
Net income attributable to common shareholders | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||||
Denominator for net income per share - basic: | |||||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||||
Net income per share - basic | $ | 0.44 | $ | 2.62 | $ | 0.37 | $ | 2.25 | $ | 0.37 | $ | 2.22 | |||||||||||||||
Numerator for net income per share - diluted: | |||||||||||||||||||||||||||
Net income attributable to common shareholders for | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||||
basic computation | |||||||||||||||||||||||||||
Denominator for net income per share - diluted: | |||||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||||
Weighted average effect of dilutive securities: | |||||||||||||||||||||||||||
Stock Options | 282 | 58 | 388 | 61 | 492 | 82 | |||||||||||||||||||||
Restricted Stock | 30 | 5 | 34 | 6 | 37 | 6 | |||||||||||||||||||||
Weighted average common shares outstanding - diluted | 21,076 | 3,536 | 21,099 | 3,514 | 20,854 | 3,476 | |||||||||||||||||||||
Net income per share - diluted | $ | 0.43 | $ | 2.57 | $ | 0.37 | $ | 2.2 | $ | 0.36 | $ | 2.17 | |||||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The updated accounting guidance is effective for annual and interim reporting periods in fiscal years beginning after December 15, 2016. Early adoption is not permitted. An entity may choose to adopt this ASU either retrospectively or through a cumulative effect adjustment as of the start of the first period for which it applies the standard. The Company is currently in the process of evaluating the impact that this new guidance will have on our consolidated financial statements and our method of adoption. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Amounts charged against income, before income tax benefit | $ | 742 | $ | 955 | $ | 388 | |||||||||||||||||||
Amount of related income tax benefit | 269 | 377 | 153 | ||||||||||||||||||||||
Total impact to net income | $ | 473 | $ | 578 | $ | 235 | |||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||
Money Market Funds | $ | 9,442 | $ | -- | $ | -- | $ | 9,442 | |||||||||||||||||
Commercial Paper | $ | 29,686 | $ | -- | $ | -- | $ | 29,686 | |||||||||||||||||
Total | $ | 39,128 | $ | -- | $ | -- | $ | 39,128 | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Money Market Funds | $ | 7,266 | $ | -- | $ | -- | $ | 7,266 | |||||||||||||||||
Commercial Paper | $ | 13,976 | $ | -- | $ | -- | $ | 13,976 | |||||||||||||||||
Total | $ | 21,242 | $ | -- | $ | -- | $ | 21,242 | |||||||||||||||||
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Total carrying amount of long-term debt | $ | 8,068 | $ | 10,324 | |||||||||||||||||||||
Estimated fair value of long-term debt | $ | 7,997 | $ | 10,156 | |||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | ||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||
Numerator for net income per share - basic: | |||||||||||||||||||||||||
Allocation of distributed earnings | $ | 1,254 | $ | 1,258 | $ | 1,071 | $ | 1,071 | $ | 8,681 | $ | 8,681 | |||||||||||||
Allocation of undistributed earnings | 7,808 | 7,836 | 6,670 | 6,672 | (1,147 | ) | (1,147 | ) | |||||||||||||||||
Net income attributable to common shareholders | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||
Denominator for net income per share - basic: | |||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||
Net income per share - basic | $ | 0.44 | $ | 2.62 | $ | 0.37 | $ | 2.25 | $ | 0.37 | $ | 2.22 | |||||||||||||
Numerator for net income per share - diluted: | |||||||||||||||||||||||||
Net income attributable to common shareholders for | $ | 9,062 | $ | 9,094 | $ | 7,741 | $ | 7,743 | $ | 7,534 | $ | 7,534 | |||||||||||||
basic computation | |||||||||||||||||||||||||
Denominator for net income per share - diluted: | |||||||||||||||||||||||||
Weighted average common shares outstanding - basic | 20,764 | 3,473 | 20,677 | 3,447 | 20,325 | 3,388 | |||||||||||||||||||
Weighted average effect of dilutive securities: | |||||||||||||||||||||||||
Stock Options | 282 | 58 | 388 | 61 | 492 | 82 | |||||||||||||||||||
Restricted Stock | 30 | 5 | 34 | 6 | 37 | 6 | |||||||||||||||||||
Weighted average common shares outstanding - diluted | 21,076 | 3,536 | 21,099 | 3,514 | 20,854 | 3,476 | |||||||||||||||||||
Net income per share - diluted | $ | 0.43 | $ | 2.57 | $ | 0.37 | $ | 2.2 | $ | 0.36 | $ | 2.17 |
Note_2_Acquisitions_Tables
Note 2 - Acquisitions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Business Combinations [Abstract] | |||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Amount of Identified Assets Acquired and Liabilities Assumed | ||||||||
($ in thousands) | |||||||||
Current Assets | $ | 36 | |||||||
Property and equipment | 16 | ||||||||
Customer relationships | 382 | ||||||||
Technology | 1,110 | ||||||||
Goodwill | 1,124 | ||||||||
Other Long Term Assets | 23 | ||||||||
Total acquired assets | 2,691 | ||||||||
Current liabilities | (117 | ) | |||||||
Net assets acquired | $ | 2,574 | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands, except per share data) | |||||||||
Revenue | $ | 99,266 | $ | 92,989 | |||||
Net income | $ | 17,642 | $ | 14,660 | |||||
Basic Earnings per share – Class A | $ | 0.42 | $ | 0.35 | |||||
Basic Earnings per share – Class B | $ | 2.54 | $ | 2.13 | |||||
Diluted Earnings per share – Class A | $ | 0.42 | $ | 0.35 | |||||
Diluted earnings per share – Class B | $ | 2.5 | $ | 2.09 |
Note_4_Property_and_Equipment_
Note 4 - Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | 2014 | 2013 | |||||||
(In thousands) | |||||||||
Furniture and equipment | $ | 4,675 | $ | 4,015 | |||||
Computer equipment and software | 20,055 | 18,569 | |||||||
Building | 9,577 | 9,322 | |||||||
Land | 425 | 425 | |||||||
34,732 | 32,331 | ||||||||
Less accumulated depreciation and amortization | 22,589 | 20,433 | |||||||
Net property and equipment | $ | 12,143 | $ | 11,898 | |||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Furniture and equipment | $ | 767 | $ | 519 | |||||
Computer equipment and software | 55 | 47 | |||||||
822 | 566 | ||||||||
Less accumulated amortization | 414 | 294 | |||||||
Net assets under capital lease | $ | 408 | $ | 272 |
Note_5_Goodwill_and_Intangible1
Note 5 - Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Accumulated Amortization | ||||||||||||||||
Useful Life | Gross | Net | |||||||||||||||
(In years) | (In thousands) | ||||||||||||||||
Goodwill | $ | 58,489 | $ | 58,489 | |||||||||||||
Non-amortizing intangible assets: | |||||||||||||||||
Indefinite trade name | 1,191 | 1,191 | |||||||||||||||
Amortizing intangible assets: | |||||||||||||||||
Customer related | 15-May | 10,857 | 7,937 | 2,920 | |||||||||||||
Technology | 7 | 1,110 | 26 | 1,084 | |||||||||||||
Non-compete agreements | 3 | 430 | 430 | - | |||||||||||||
Trade names | 10-May | 1,902 | 1,640 | 261 | |||||||||||||
Total amortizing intangible assets | 14,299 | 10,033 | 4,265 | ||||||||||||||
Total intangible assets other than goodwill | $ | 15,490 | $ | 10,033 | $ | 5,456 | |||||||||||
Accumulated Amortization | |||||||||||||||||
Useful Life | Gross | Net | |||||||||||||||
(In years) | (In thousands) | ||||||||||||||||
Goodwill | $ | 57,593 | $ | 57,593 | |||||||||||||
Non-amortizing intangible assets: | |||||||||||||||||
Indefinite trade name | 1,191 | 1,191 | |||||||||||||||
Amortizing intangible assets: | |||||||||||||||||
Customer related | 15-May | 10,499 | 7,334 | 3,165 | |||||||||||||
Non-compete agreements | 3 | 430 | 430 | - | |||||||||||||
Trade names | 10-May | 1,902 | 1,418 | 484 | |||||||||||||
Total amortizing intangible assets | 12,831 | 9,182 | 3,649 | ||||||||||||||
Total intangible assets other than goodwill | $ | 14,022 | $ | 9,182 | $ | 4,840 | |||||||||||
Schedule of Goodwill [Table Text Block] | Balance as of December 31, 2012 | $ | 57,799 | ||||||||||||||
Foreign currency translation | (206 | ) | |||||||||||||||
Balance as of December 31, 2013 | $ | 57,593 | |||||||||||||||
Acquisition | 1,124 | ||||||||||||||||
Foreign currency translation | (228 | ) | |||||||||||||||
Balance as of December 31, 2014 | $ | 58,489 |
Note_6_Income_Taxes_Tables
Note 6 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
(In thousands) | |||||||||||||
U.S. Operations | $ | 25,338 | $ | 21,882 | $ | 19,836 | |||||||
Foreign Operations | 2,754 | 2,606 | 2,371 | ||||||||||
$ | 28,092 | $ | 24,488 | $ | 22,207 | ||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
(In thousands) | |||||||||||||
Federal: | |||||||||||||
Current | $ | 8,578 | $ | 7,169 | $ | 5,488 | |||||||
Deferred | 99 | 195 | 1,140 | ||||||||||
Total | $ | 8,677 | $ | 7,364 | $ | 6,628 | |||||||
Foreign: | |||||||||||||
Current | $ | 714 | $ | 716 | $ | 684 | |||||||
Deferred | 34 | (7 | ) | (6 | ) | ||||||||
Total | $ | 748 | $ | 709 | $ | 678 | |||||||
State: | |||||||||||||
Current | $ | 448 | $ | 1,020 | $ | 787 | |||||||
Deferred | 63 | (89 | ) | (954 | ) | ||||||||
Total | $ | 511 | $ | 931 | $ | (167 | ) | ||||||
Total | $ | 9,936 | $ | 9,004 | $ | 7,139 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
(In thousands) | |||||||||||||
Expected federal income taxes | $ | 9,832 | $ | 8,571 | $ | 7,772 | |||||||
Foreign tax rate differential | (239 | ) | (226 | ) | (203 | ) | |||||||
State income taxes, net of federal benefit and state tax credits | 332 | 605 | 552 | ||||||||||
Federal tax credits | (150 | ) | (217 | ) | (282 | ) | |||||||
Uncertain tax positions | 182 | (43 | ) | (73 | ) | ||||||||
Deferred tax adjustment due to change in state tax law | 58 | -- | (875 | ) | |||||||||
Recapitalization expenses | -- | 182 | -- | ||||||||||
Release of valuation allowance | 1,124 | 14 | 214 | ||||||||||
Expiration of capital loss carryforward | (1,124 | ) | -- | -- | |||||||||
Other | (79 | ) | 118 | 34 | |||||||||
Total | $ | 9,936 | $ | 9,004 | $ | 7,139 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2014 | 2013 | |||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 71 | $ | 63 | |||||||||
Accrued expenses | 529 | 497 | |||||||||||
Share based compensation | 1,239 | 1,113 | |||||||||||
Capital loss carryforward | -- | 1,124 | |||||||||||
Other | 38 | 39 | |||||||||||
Gross deferred tax assets | 1,877 | 2,836 | |||||||||||
Less Valuation Allowance | -- | (1,124 | ) | ||||||||||
Deferred tax assets | 1,877 | 1,712 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Prepaid expenses | 251 | 286 | |||||||||||
Property and equipment | 1,319 | 1,426 | |||||||||||
Intangible assets | 7,308 | 6,879 | |||||||||||
Other | 82 | 7 | |||||||||||
Deferred tax liabilities | 8,960 | 8,598 | |||||||||||
Net deferred tax liabilities | $ | (7,083 | ) | $ | (6,886 | ) | |||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | (In thousands) | ||||||||||||
Balance of unrecognized tax benefits at December 31, 2012 | $ | 224 | |||||||||||
Reductions due to lapse of applicable statute of limitations | (91 | ) | |||||||||||
Additions based on tax positions of prior years | 27 | ||||||||||||
Additions based on tax positions related to the current year | 28 | ||||||||||||
Balance of unrecognized tax benefits at December 31, 2013 | $ | 188 | |||||||||||
Reductions due to lapse of applicable statute of limitations | (26 | ) | |||||||||||
Additions based on tax positions of prior years | 10 | ||||||||||||
Additions based on tax positions related to the current year | 195 | ||||||||||||
Balance of unrecognized tax benefits at December 31, 2014 | $ | 367 |
Note_7_Notes_Payable_Tables
Note 7 - Notes Payable (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Revolving credit note with U.S. Bank, maximum available $6.5 million subject to borrowing base, matures June 30, 2015 | $ | -- | $ | -- | |||||||||||||||||||||
Note payable to U.S. Bank for $11.8 million, interest at a 3.12% fixed rate, 60 monthly principal and interest payments of $212,468 through April 2018 | 8,068 | 10,324 | |||||||||||||||||||||||
Total notes payable | 8,068 | 10,324 | |||||||||||||||||||||||
Less current portion | 2,328 | 2,256 | |||||||||||||||||||||||
Note payable, net of current portion | $ | 5,740 | $ | 8,068 | |||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | Total | 2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||||
Payments | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Notes payable | $ | 8,068 | $ | 2,328 | $ | 2,403 | $ | 2,480 | $ | 857 | $ | -- |
Note_8_Sharebased_Compensation1
Note 8 - Share-based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||||||
Class A | Class B | Pre-Recapitalization | |||||||||||||||
Expected dividend yield at date of grant | 1.47 to 1.97% | 4.03 to 4.87% | 2.26 to 3.46% | 2.63 to 3.98% | |||||||||||||
Expected stock price volatility | 27.52 to 32.03% | 30.13 to 32.65% | 30.34 to 30.51% | 29.10 to 31.70% | |||||||||||||
Risk-free interest rate | 1.63 to 2.37% | 1.63 to 2.37% | 0.55 to 1.07% | 0.56 to 1.15% | |||||||||||||
Expected life of options (in years) | 5 to 7 | 5 to 7 | 4 to 6 | 4 to 6 | |||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | Number of | Weighted Average Exercise | Weighted Average Remaining Contractual Terms (Years) | Aggregate Intrinsic | |||||||||||||
Options | Price | Value | |||||||||||||||
(In thousands) | |||||||||||||||||
Class A | |||||||||||||||||
Outstanding at December 31, 2013 | 1,444,845 | $ | 10.21 | ||||||||||||||
Granted | 204,166 | $ | 15.41 | ||||||||||||||
Exercised | (140,595 | ) | $ | 6.76 | $ | 1,468 | |||||||||||
Forfeited | (183,896 | ) | $ | 12.4 | |||||||||||||
Outstanding at December 31, 2014 | 1,324,520 | $ | 11.07 | 6.3 | $ | 4,566 | |||||||||||
Exercisable at December 31, 2014 | 787,413 | $ | 10.7 | 5.56 | $ | 3,005 | |||||||||||
Class B | |||||||||||||||||
Outstanding at December 31, 2013 | 234,802 | $ | 20.76 | ||||||||||||||
Granted | 32,217 | $ | 43.24 | ||||||||||||||
Exercised | (23,432 | ) | $ | 15.25 | $ | 502 | |||||||||||
Forfeited | (30,117 | ) | $ | 23.82 | |||||||||||||
Outstanding at December 31, 2014 | 213,470 | $ | 24.32 | 6.34 | $ | 2,724 | |||||||||||
Exercisable at December 31, 2014 | 125,234 | $ | 21.64 | 5.62 | $ | 1,794 | |||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | Class A Shares Outstanding | Class A Weighted Average Grant Date Fair Value | Class B Shares Outstanding | Class B Weighted Average Grant Date Fair Value Per Share | |||||||||||||
Per Share | |||||||||||||||||
Outstanding at December 31, 2013 | 60,609 | $ | 5.77 | 10,101 | $ | 34.65 | |||||||||||
Granted | 73,506 | 13.99 | 12,251 | 38.5 | |||||||||||||
Forfeited | (23,468 | ) | 6.39 | (3,911 | ) | 38.35 | |||||||||||
Outstanding at December 31, 2014 | 110,647 | $ | 11.1 | 18,441 | $ | 36.42 |
Note_9_Leases_Tables
Note 9 - Leases (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Leases [Abstract] | |||||||||
Schedule of Future Minimum Payments for Operating Leases and Capital Leases [Table Text Block] | Year Ending December 31, | Capital | Operating Leases | ||||||
Leases | |||||||||
(In thousands) | |||||||||
2015 | $ | 173 | $ | 703 | |||||
2016 | 74 | 592 | |||||||
2017 | 65 | 411 | |||||||
2018 | 33 | 292 | |||||||
2019 | -- | 104 | |||||||
Total minimum lease payments | 345 | ||||||||
Less: Amount representing interest | 27 | ||||||||
Present value of minimum lease payments | 318 | ||||||||
Less: Current maturities | 151 | ||||||||
Capital lease obligations, net of current portion | $ | 167 |
Note_13_Segment_Information_Ta
Note 13 - Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
(In thousands) | |||||||||||||
Revenue: | |||||||||||||
United States | $ | 92,270 | $ | 85,863 | $ | 79,895 | |||||||
Canada | 6,567 | 6,727 | 6,526 | ||||||||||
Total | $ | 98,837 | $ | 92,590 | $ | 86,421 | |||||||
Long-lived assets: | |||||||||||||
United States | $ | 73,328 | $ | 71,139 | $ | 72,817 | |||||||
Canada | 2,994 | 3,383 | 3,414 | ||||||||||
Total | $ | 76,322 | $ | 74,522 | $ | 76,231 | |||||||
Total assets: | |||||||||||||
United States | $ | 115,730 | $ | 98,074 | $ | 87,670 | |||||||
Canada | 13,780 | 13,014 | 12,376 | ||||||||||
Total | $ | 129,510 | $ | 111,088 | $ | 100,046 |
Supplemental_Disclosures_of_No1
Supplemental Disclosures of Non-Cash Investing and Financing Activities Details (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Elements [Abstract] | |||
Capital Lease Obligations Incurred | $248 | $5 | $9 |
Stock Issued | $900 | $150 | $4,600 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
31-May-13 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Number of Common Stock Classes | 2 | |||
Revenue Recognition Subscription Period | 12 months | |||
Capitalized Computer Software, Additions | $1,800,000 | $1,700,000 | ||
Asset Impairment Charges | 0 | 0 | 0 | |
Number of Operating Segments | 3 | 2 | ||
Number of Reportable Segments | 1 | |||
Income Tax Credits and Adjustments | 224,000 | 290,000 | 289,000 | |
Unrecognized Tax Benefits, Excluding Interest and Penalties | 360,000 | 188,000 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 8,000 | 5,000 | ||
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 7,000 | |||
Unrecognized Tax Benefits | 367,000 | 188,000 | 224,000 | |
Cash Equivalents, at Carrying Value | 39,100,000 | 21,200,000 | ||
Common Class A [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Stock Issued During Period, Value, Stock Dividend | 3 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 347,852 | 99,562 | 92,460 | |
Common Class B [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 21,248 | 6,407 | 15,410 | |
Unclassified Indefinite-lived Intangible Assets [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | 0 | 0 | |
Furniture and Fixtures [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Fixtures [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 10 years | |||
Computer Equipment [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Computer Equipment [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Software and Software Development Costs [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Software and Software Development Costs [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Building and Building Improvements [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Building and Building Improvements [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 40 years | |||
Recognized Favorable Impact [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Unrecognized Tax Benefits | 210,000 | 188,000 | ||
No Impact on Effective Tax Rate [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Unrecognized Tax Benefits | $150,000 | |||
Revenue [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Concentration Risk, Percentage | 16.00% | 19.00% | 22.00% |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Recognized in Financial Statements (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts Recognized in Financial Statements [Abstract] | |||
Amounts charged against income, before income tax benefit | $742 | $955 | $388 |
Amount of related income tax benefit | 269 | 377 | 153 |
Total impact to net income | $473 | $578 | $235 |
Note_1_Summary_of_Significant_4
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | $39,128 | $21,242 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | 9,442 | 7,266 |
Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | 29,686 | 13,976 |
Fair Value, Inputs, Level 1 [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | 39,128 | 21,242 |
Money Market Funds [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | 9,442 | 7,266 |
Commercial Paper [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Fair Value of Financial Assets and Liabilities [Line Items] | ||
Financial assets and liabilities | $29,686 | $13,976 |
Note_1_Summary_of_Significant_5
Note 1 - Summary of Significant Accounting Policies (Details) - Long-term Debt (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term Debt, Unclassified [Abstract] | ||
Total carrying amount of long-term debt | $8,068 | $10,324 |
Estimated fair value of long-term debt | $7,997 | $10,156 |
Note_1_Summary_of_Significant_6
Note 1 - Summary of Significant Accounting Policies (Details) - Net Income Per Share Computation (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Numerator for net income per share - basic: | |||
Net income attributable to common shareholders (in Dollars) | $18,156 | $15,484 | $15,068 |
Common Class A [Member] | Employee Stock Option [Member] | |||
Weighted average effect of dilutive securities: | |||
Stock | 282 | 388 | 492 |
Common Class A [Member] | Restricted Stock [Member] | |||
Weighted average effect of dilutive securities: | |||
Stock | 30 | 34 | 37 |
Common Class A [Member] | |||
Numerator for net income per share - basic: | |||
Allocation of distributed earnings (in Dollars) | 1,254 | 1,071 | 8,681 |
Allocation of undistributed earnings (in Dollars) | 7,808 | 6,670 | -1,147 |
Net income attributable to common shareholders (in Dollars) | 9,062 | 7,741 | 7,534 |
Denominator for net income per share - basic: | |||
Weighted average common shares outstanding - basic | 20,764 | 20,677 | 20,325 |
Weighted average effect of dilutive securities: | |||
Weighted average common shares outstanding - diluted | 21,076 | 21,099 | 20,854 |
Net income per share - diluted (in Dollars per share) | $0.43 | $0.37 | $0.36 |
Net income per share - basic (in Dollars per share) | $0.44 | $0.37 | $0.37 |
Numerator for net income per share - diluted: | |||
Net income attributable to common shareholders for basic computation (in Dollars) | 9,062 | 7,741 | 7,534 |
Common Class B [Member] | Employee Stock Option [Member] | |||
Weighted average effect of dilutive securities: | |||
Stock | 58 | 61 | 82 |
Common Class B [Member] | Restricted Stock [Member] | |||
Weighted average effect of dilutive securities: | |||
Stock | 5 | 6 | 6 |
Common Class B [Member] | |||
Numerator for net income per share - basic: | |||
Allocation of distributed earnings (in Dollars) | 1,258 | 1,071 | 8,681 |
Allocation of undistributed earnings (in Dollars) | 7,836 | 6,672 | -1,147 |
Net income attributable to common shareholders (in Dollars) | 9,094 | 7,743 | 7,534 |
Denominator for net income per share - basic: | |||
Weighted average common shares outstanding - basic | 3,473 | 3,447 | 3,388 |
Weighted average effect of dilutive securities: | |||
Weighted average common shares outstanding - diluted | 3,536 | 3,514 | 3,476 |
Net income per share - diluted (in Dollars per share) | $2.57 | $2.20 | $2.17 |
Net income per share - basic (in Dollars per share) | $2.62 | $2.25 | $2.22 |
Numerator for net income per share - diluted: | |||
Net income attributable to common shareholders for basic computation (in Dollars) | $9,094 | $7,743 | $7,534 |
Note_2_Acquisitions_Details
Note 2 - Acquisitions (Details) (USD $) | 12 Months Ended | 2 Months Ended | 1 Months Ended | 0 Months Ended |
Dec. 31, 2014 | Dec. 31, 2014 | Oct. 31, 2014 | Oct. 28, 2014 | |
Note 2 - Acquisitions (Details) [Line Items] | ||||
Payments to Purchase Options | $657,000 | |||
Selling, General and Administrative Expenses [Member] | Digital Assent, LLC [Member] | ||||
Note 2 - Acquisitions (Details) [Line Items] | ||||
Business Combination, Acquisition Related Costs | 52,000 | |||
Seed Investment [Member] | ||||
Note 2 - Acquisitions (Details) [Line Items] | ||||
Payment for Option and License | 800,000 | |||
Payments to Purchase Options | 657,000 | |||
Payment for License and Work to be Performed | 143,000 | |||
Purchase Price for Potential Acquisition | 4,100,000 | |||
Digital Assent, LLC [Member] | ||||
Note 2 - Acquisitions (Details) [Line Items] | ||||
Payments to Acquire Businesses, Gross | 2,600,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years 94 days | |||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 95,000 | |||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ($548,000) |
Note_2_Acquisitions_Details_Fa
Note 2 - Acquisitions (Details) - Fair Value of Assets Acquired and Liabilities Assumed (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Note 2 - Acquisitions (Details) - Fair Value of Assets Acquired and Liabilities Assumed [Line Items] | |||
Goodwill | $58,489 | $57,593 | $57,799 |
Customer Relationships [Member] | Digital Assent, LLC [Member] | |||
Note 2 - Acquisitions (Details) - Fair Value of Assets Acquired and Liabilities Assumed [Line Items] | |||
Intangible Assets Acquired | 382 | ||
Technology-Based Intangible Assets [Member] | Digital Assent, LLC [Member] | |||
Note 2 - Acquisitions (Details) - Fair Value of Assets Acquired and Liabilities Assumed [Line Items] | |||
Intangible Assets Acquired | 1,110 | ||
Digital Assent, LLC [Member] | |||
Note 2 - Acquisitions (Details) - Fair Value of Assets Acquired and Liabilities Assumed [Line Items] | |||
Current Assets | 36 | ||
Property and equipment | 16 | ||
Goodwill | 1,124 | ||
Other Long Term Assets | 23 | ||
Total acquired assets | 2,691 | ||
Current liabilities | -117 | ||
Net assets acquired | $2,574 |
Note_2_Acquisitions_Details_Pr
Note 2 - Acquisitions (Details) - Pro Forma Information (Digital Assent, LLC [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 2 - Acquisitions (Details) - Pro Forma Information [Line Items] | ||
Revenue (in Dollars) | $99,266 | $92,989 |
Net income (in Dollars) | $17,642 | $14,660 |
Common Class A [Member] | ||
Note 2 - Acquisitions (Details) - Pro Forma Information [Line Items] | ||
Earnings per Share Basic | $0.42 | $0.35 |
Earnnings per Share Diluted | $0.42 | $0.35 |
Common Class B [Member] | ||
Note 2 - Acquisitions (Details) - Pro Forma Information [Line Items] | ||
Earnings per Share Basic | $2.54 | $2.13 |
Earnnings per Share Diluted | $2.50 | $2.09 |
Note_3_Variable_Interest_Entit1
Note 3 - Variable Interest Entity (Details) (USD $) | 12 Months Ended | 18 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | |
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Annual Recurring Contract Value | $12,500,000 | ||
Proforma Minimum EBITDA Margin | 35.00% | ||
Variable Interest Entity Noncontrolling Interest Put Option | 0 | 0 | |
Variable Interest Entity Profit or Loss | -1,500,000 | -837,000 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 784,000 | 649,000 | 784,000 |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 309,000 | 186,000 | 309,000 |
NRC [Member] | Additional Capital Contributions [Member] | |||
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Capital Contributions to Variable Interest Entity | 2,800,000 | ||
NRC [Member] | Additional Capital Contributions as Needed [Member] | |||
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Additional Capital Contributions to Variable Interest Entity | $1,300,000 | ||
NRC [Member] | |||
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 49.00% | ||
NG Customer-Connect, LLC [Member] | |||
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 25.00% | 25.00% | |
Illuminate Health, LLC [Member] | |||
Note 3 - Variable Interest Entity (Details) [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 26.00% | 26.00% |
Note_4_Property_and_Equipment_1
Note 4 - Property and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 4 - Property and Equipment (Details) [Line Items] | |||
Depreciation, Depletion and Amortization | $3,804 | $3,732 | $4,699 |
Property and Equipment [Member] | |||
Note 4 - Property and Equipment (Details) [Line Items] | |||
Depreciation, Depletion and Amortization | $3,000 | $2,800 | $3,400 |
Note_4_Property_and_Equipment_2
Note 4 - Property and Equipment (Details) - Summary of Property and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Furniture and equipment | $4,675 | $4,015 |
Computer equipment and software | 20,055 | 18,569 |
Building | 9,577 | 9,322 |
Land | 425 | 425 |
34,732 | 32,331 | |
Less accumulated depreciation and amortization | 22,589 | 20,433 |
Net property and equipment | 12,143 | 11,898 |
Assets under capital lease | 822 | 566 |
Less accumulated amortization | 414 | 294 |
Net assets under capital lease | 408 | 272 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Assets under capital lease | 767 | 519 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Assets under capital lease | $55 | $47 |
Note_5_Goodwill_and_Intangible2
Note 5 - Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of Intangible Assets | $876,000 | $954,000 | $1,300,000 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 995,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 803,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 738,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 727,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 439,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $562,000 |
Note_5_Goodwill_and_Intangible3
Note 5 - Goodwill and Intangible Assets (Details) - Intangible Assets (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | 58,489 | 57,593 | $57,799 |
Goodwill | 58,489 | 57,593 | 57,799 |
Amortizing intangible assets: | |||
Intangible Assets, Gross | 14,299 | 12,831 | |
Intangible Assets, Accumulated Amortization | 10,033 | 9,182 | |
Intangible Assets, Net | 4,265 | 3,649 | |
Intangible Assets, Gross | 15,490 | 14,022 | |
Intangible Assets, Accumulated Amortization | 10,033 | 9,182 | |
Intangible Assets, Net | 5,456 | 4,840 | |
Trade Names [Member] | |||
Non-amortizing intangible assets: | |||
Indefinite trade name | 1,191 | 1,191 | |
Customer Relationships [Member] | Minimum [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 5 years | 5 years | |
Customer Relationships [Member] | Maximum [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 15 years | 15 years | |
Customer Relationships [Member] | |||
Amortizing intangible assets: | |||
Intangible Assets, Gross | 10,857 | 10,499 | |
Intangible Assets, Accumulated Amortization | 7,937 | 7,334 | |
Intangible Assets, Net | 2,920 | 3,165 | |
Intangible Assets, Accumulated Amortization | 7,937 | 7,334 | |
Technology-Based Intangible Assets [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 7 years | ||
Intangible Assets, Gross | 1,110 | ||
Intangible Assets, Accumulated Amortization | 26 | ||
Intangible Assets, Net | 1,084 | ||
Intangible Assets, Accumulated Amortization | 26 | ||
Noncompete Agreements [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 3 years | 3 years | |
Intangible Assets, Gross | 430 | 430 | |
Intangible Assets, Accumulated Amortization | 430 | 430 | |
Intangible Assets, Accumulated Amortization | 430 | 430 | |
Trade Names [Member] | Minimum [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 5 years | 5 years | |
Trade Names [Member] | Maximum [Member] | |||
Amortizing intangible assets: | |||
Useful Life, Intangible Assets | 10 years | 10 years | |
Trade Names [Member] | |||
Amortizing intangible assets: | |||
Intangible Assets, Gross | 1,902 | 1,902 | |
Intangible Assets, Accumulated Amortization | 1,640 | 1,418 | |
Intangible Assets, Net | 261 | 484 | |
Intangible Assets, Accumulated Amortization | 1,640 | 1,418 |
Note_5_Goodwill_and_Intangible4
Note 5 - Goodwill and Intangible Assets (Details) - Summary of Changes in the Carrying Amount of Goodwill (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Changes in the Carrying Amount of Goodwill [Abstract] | |||
Balance | $58,489 | $57,593 | $57,799 |
Acquisition | 1,124 | ||
Foreign currency translation | ($228) | ($206) |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Deferred Tax Assets, Net, Current | $349,000 | $53,000 | |
Deferred Tax Liabilities, Net, Noncurrent | 7,432,000 | 6,939,000 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,100,000 | 14,000 | 214,000 |
Capital Loss Carryforwards | 3,100,000 | ||
Deferred Tax Assets, Valuation Allowance | 1,124,000 | ||
Undistributed Earnings of Foreign Subsidiaries | 12,700,000 | ||
Potential Income Tax Related To Repatriation Of Foreign Earnings | 609,000 | ||
Unrecognized Tax Benefits, Excluding Interest and Penalties | 360,000 | 188,000 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 8,000 | 5,000 | |
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 7,000 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 210,000 | 188,000 | |
Unrecognized Tax Benefits That Would Not Impact Effective Tax Rate | $150,000 |
Note_6_Income_Taxes_Details_In
Note 6 - Income Taxes (Details) - Income Before Income Taxes (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Before Income Taxes [Abstract] | |||
U.S. Operations | $25,338 | $21,882 | $19,836 |
Foreign Operations | 2,754 | 2,606 | 2,371 |
$28,092 | $24,488 | $22,207 |
Note_6_Income_Taxes_Details_In1
Note 6 - Income Taxes (Details) - Income Tax Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Expense [Abstract] | |||
Current | $8,578 | $7,169 | $5,488 |
Deferred | 99 | 195 | 1,140 |
Total | 8,677 | 7,364 | 6,628 |
Current | 714 | 716 | 684 |
Deferred | 34 | -7 | -6 |
Total | 748 | 709 | 678 |
Current | 448 | 1,020 | 787 |
Deferred | 63 | -89 | -954 |
Total | 511 | 931 | -167 |
Total | $9,936 | $9,004 | $7,139 |
Note_6_Income_Taxes_Details_In2
Note 6 - Income Taxes (Details) - Income Tax Reconciliation (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Reconciliation [Abstract] | |||
Expected federal income taxes | $9,832 | $8,571 | $7,772 |
Foreign tax rate differential | -239 | -226 | -203 |
State income taxes, net of federal benefit and state tax credits | 332 | 605 | 552 |
Federal tax credits | -150 | -217 | -282 |
Uncertain tax positions | 182 | -43 | -73 |
Deferred tax adjustment due to change in state tax law | 58 | -875 | |
Recapitalization expenses | 182 | ||
Release of valuation allowance | 1,124 | 14 | 214 |
Expiration of capital loss carryforward | -1,124 | ||
Other | -79 | 118 | 34 |
Total | $9,936 | $9,004 | $7,139 |
Note_6_Income_Taxes_Details_De
Note 6 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ||
Allowance for doubtful accounts | $71 | $63 |
Accrued expenses | 529 | 497 |
Share based compensation | 1,239 | 1,113 |
Capital loss carryforward | 1,124 | |
Other | 38 | 39 |
Gross deferred tax assets | 1,877 | 2,836 |
Less Valuation Allowance | -1,124 | |
Deferred tax assets | 1,877 | 1,712 |
Deferred tax liabilities: | ||
Prepaid expenses | 251 | 286 |
Property and equipment | 1,319 | 1,426 |
Intangible assets | 7,308 | 6,879 |
Other | 82 | 7 |
Deferred tax liabilities | 8,960 | 8,598 |
Net deferred tax liabilities | ($7,083) | ($6,886) |
Note_6_Income_Taxes_Details_Ch
Note 6 - Income Taxes (Details) - Change in Unrecognized Tax Benefits (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Change in Unrecognized Tax Benefits [Abstract] | ||
Balance of unrecognized tax benefits at December 31, 2012 | $188 | $224 |
Reductions due to lapse of applicable statute of limitations | -26 | -91 |
Additions based on tax positions of prior years | 10 | 27 |
Additions based on tax positions related to the current year | 195 | 28 |
Balance of unrecognized tax benefits | $367 | $188 |
Note_7_Notes_Payable_Details
Note 7 - Notes Payable (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 7 - Notes Payable (Details) [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 6,500,000 | $6,500,000 |
Revolving Credit Facility [Member] | One Month LIBOR [Member] | ||
Note 7 - Notes Payable (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |
Revolving Credit Facility [Member] | One, Two, Three, Six, or Twelve Month LIBOR [Member] | ||
Note 7 - Notes Payable (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.20% | |
Revolving Credit Facility [Member] | ||
Note 7 - Notes Payable (Details) [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 6,500,000 | |
Borrowing Capacity, Percentage of Accounts Receivable | 75.00% | |
Long-term Line of Credit | 0 | |
Line of Credit Facility, Remaining Borrowing Capacity | 6,500,000 |
Note_7_Notes_Payable_Details_N
Note 7 - Notes Payable (Details) - Notes Payable (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Notes Payable (Details) - Notes Payable [Line Items] | ||
Notes payable | $8,068 | $10,324 |
Less current portion | 2,328 | 2,256 |
Note payable, net of current portion | 5,740 | 8,068 |
New Combined Term Note [Member] | ||
Note 7 - Notes Payable (Details) - Notes Payable [Line Items] | ||
Notes payable | $8,068 | $10,324 |
Note_7_Notes_Payable_Details_N1
Note 7 - Notes Payable (Details) - Notes Payable (Parentheticals) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 7 - Notes Payable (Details) - Notes Payable (Parentheticals) [Line Items] | ||
Rеvolving crеdit notе, maximum borrowing capacity | $6,500,000 | $6,500,000 |
New Combined Term Note [Member] | ||
Note 7 - Notes Payable (Details) - Notes Payable (Parentheticals) [Line Items] | ||
Notе payablе, facе amount | 11,800,000 | 11,800,000 |
Numbеr of monthly installmеnts | 60 | 60 |
Fixеd intеrеst ratе | 3.12% | 3.12% |
Monthly paymеnt | $212,468 | $212,468 |
Note_7_Notes_Payable_Details_R
Note 7 - Notes Payable (Details) - Remaining Note Payable Maturities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Remaining Note Payable Maturities [Abstract] | ||
Notes payable | $8,068 | $10,324 |
Notes payable | 2,328 | |
Notes payable | 2,403 | |
Notes payable | 2,480 | |
Notes payable | $857 |
Note_8_Sharebased_Compensation2
Note 8 - Share-based Compensation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Proceeds from Stock Options Exercised (in Dollars) | $408,000 | $840,000 | $1,283,000 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (in Dollars) | 622,000 | 753,000 | 2,000,000 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 0 | ||
Common Class A [Member] | Employee Stock Option [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 487,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 299 days | ||
Common Class A [Member] | Nonvested [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 73,506 | ||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 23,469 | ||
Share Based Compensation Arrangement By Share Based Payment Award, Nonvested Restricted Stock, Outstanding, Number | 110,647 | ||
Common Class A [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,800,000 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 1,683,309 | ||
Common Class A [Member] | Director Plan 2004 [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,650,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 75,000 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 1,575,000 | ||
Common Stock Options Granted To Directors | 36,000 | ||
Common Class A [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,800,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,143,147 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 656,853 | ||
Common Class A [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 204,166 | 232,344 | 238,890 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $2.14 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | 1,468,000 | 1,100,000 | 5,600,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Period Vested, Aggregate Intrinsic Value (in Dollars) | 528,000 | 1,500,000 | 2,300,000 |
Common Class B [Member] | Employee Stock Option [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 126,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 54 days | ||
Common Class B [Member] | Nonvested [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 12,251 | 3,912 | |
Share Based Compensation Arrangement By Share Based Payment Award, Nonvested Restricted Stock, Outstanding, Number | 18,441 | ||
Common Class B [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 280,552 | ||
Common Class B [Member] | Director Plan 2004 [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 275,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 12,500 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 262,500 | ||
Common Stock Options Granted To Directors | 6,000 | ||
Common Class B [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 191,802 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants, Cumulative | 108,198 | ||
Common Class B [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 32,217 | 38,718 | 39,815 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $2.16 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | 502,000 | 992,000 | 941,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Period Vested, Aggregate Intrinsic Value (in Dollars) | 402,000 | 514,000 | 376,000 |
Common Class A and Class B [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $3.24 | $2.43 | |
Normal Term [Member] | Director Plan 2004 [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 10 years | ||
Termination of Service [Member] | Director Plan 2004 [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 3 years | ||
Employee Stock Option [Member] | Minimum [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Employee Stock Option [Member] | Maximum [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Nonvested [Member] | Minimum [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Nonvested [Member] | Maximum [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Nonvested [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 1,500,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 200 days | ||
Allocated Share-based Compensation Expense (in Dollars) | $35,000 | $140,000 | $74,000 |
Minimum [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 5 years | ||
Minimum [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 5 years | ||
Maximum [Member] | The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 10 years | ||
Maximum [Member] | The 2006 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement By Share-based Payment Award Option Term | 10 years | ||
The 2001 Equity Incentive Plan [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | ||
Director Plan 2004 [Member] | |||
Note 8 - Share-based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year |
Note_8_Sharebased_Compensation3
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Class A [Member] | Minimum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 1.47% | ||
Expected stock price volatility | 27.52% | ||
Risk-free interest rate | 1.63% | ||
Expected life of options (in years) | 5 years | ||
Common Class A [Member] | Maximum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 1.97% | ||
Expected stock price volatility | 32.03% | ||
Risk-free interest rate | 2.37% | ||
Expected life of options (in years) | 7 years | ||
Common Class B [Member] | Minimum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 4.03% | ||
Expected stock price volatility | 30.13% | ||
Risk-free interest rate | 1.63% | ||
Expected life of options (in years) | 5 years | ||
Common Class B [Member] | Maximum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 4.87% | ||
Expected stock price volatility | 32.65% | ||
Risk-free interest rate | 2.37% | ||
Expected life of options (in years) | 7 years | ||
Minimum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 2.26% | 2.63% | |
Expected stock price volatility | 30.34% | 29.10% | |
Risk-free interest rate | 0.55% | 0.56% | |
Expected life of options (in years) | 4 years | 4 years | |
Maximum [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Options Valuation Assumptions [Line Items] | |||
Expected dividend yield at date of grant | 3.46% | 3.98% | |
Expected stock price volatility | 30.51% | 31.70% | |
Risk-free interest rate | 1.07% | 1.15% | |
Expected life of options (in years) | 6 years | 6 years |
Note_8_Sharebased_Compensation4
Note 8 - Share-based Compensation (Details) - Stock Option Activity (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Class A [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Option Activity [Line Items] | |||
Number of options | 1,324,520 | 1,444,845 | |
Weighted average exercise price | $11.07 | $10.21 | |
Weighted average remaining contractual terms (years) | 6 years 109 days | ||
Aggregate intrinsic value (in thousands) | $4,566,000 | ||
Number of options | 787,413 | ||
Weighted average exercise price | $10.70 | ||
Weighted average remaining contractual terms (years) | 5 years 204 days | ||
Aggregate intrinsic value (in thousands) | 3,005,000 | ||
Number of options | 204,166 | 232,344 | 238,890 |
Weighted average exercise price | $15.41 | ||
Number of options | -140,595 | ||
Weighted average exercise price | $6.76 | ||
Aggregate intrinsic value (in thousands) | 1,468,000 | 1,100,000 | 5,600,000 |
Number of options | -183,896 | ||
Weighted average exercise price | $12.40 | ||
Common Class B [Member] | |||
Note 8 - Share-based Compensation (Details) - Stock Option Activity [Line Items] | |||
Number of options | 213,470 | 234,802 | |
Weighted average exercise price | $24.32 | $20.76 | |
Weighted average remaining contractual terms (years) | 6 years 124 days | ||
Aggregate intrinsic value (in thousands) | 2,724,000 | ||
Number of options | 125,234 | ||
Weighted average exercise price | $21.64 | ||
Weighted average remaining contractual terms (years) | 5 years 226 days | ||
Aggregate intrinsic value (in thousands) | 1,794,000 | ||
Number of options | 32,217 | 38,718 | 39,815 |
Weighted average exercise price | $43.24 | ||
Number of options | -23,432 | ||
Weighted average exercise price | $15.25 | ||
Aggregate intrinsic value (in thousands) | $502,000 | $992,000 | $941,000 |
Number of options | -30,117 | ||
Weighted average exercise price | $23.82 |
Note_8_Sharebased_Compensation5
Note 8 - Share-based Compensation (Details) - Non-vested stock (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Common Class A [Member] | ||
Note 8 - Share-based Compensation (Details) - Non-vested stock [Line Items] | ||
Shares Outstanding, Balance | 110,647 | 60,609 |
Weighted Average Grant Date Fair Value Per Share | $11.10 | $5.77 |
Granted | 73,506 | |
Granted | $13.99 | |
Forfeited | -23,468 | |
Forfeited | $6.39 | |
Common Class B [Member] | ||
Note 8 - Share-based Compensation (Details) - Non-vested stock [Line Items] | ||
Shares Outstanding, Balance | 18,441 | 10,101 |
Weighted Average Grant Date Fair Value Per Share | $36.42 | $34.65 |
Granted | 12,251 | |
Granted | $38.50 | |
Forfeited | -3,911 | |
Forfeited | $38.35 |
Note_9_Leases_Details
Note 9 - Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Leases [Abstract] | |||
Operating Leases, Rent Expense | $840,000 | $720,000 | $715,000 |
Note_9_Leases_Details_Payments
Note 9 - Leases (Details) - Payments Under Non-Cancelable Operating Leases and Capital Leases (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Payments Under Non-Cancelable Operating Leases and Capital Leases [Abstract] | ||
2015 | $173 | |
2015 | 703 | |
2016 | 74 | |
2016 | 592 | |
2017 | 65 | |
2017 | 411 | |
2018 | 33 | |
2018 | 292 | |
2019 | 104 | |
Total minimum lease payments | 345 | |
Less: Amount representing interest | 27 | |
Present value of minimum lease payments | 318 | |
Less: Current maturities | 151 | 114 |
Capital lease obligations, net of current portion | $167 |
Note_10_Related_Party_Details
Note 10 - Related Party (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Ameritas Life Insurance Corp [Member] | |||
Note 10 - Related Party (Details) [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $207,000 | $212,000 | $198,000 |
Nebraska Global Investment Company LLC [Member] | Chief Executive Officer [Member] | |||
Note 10 - Related Party (Details) [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 14.00% | ||
Nebraska Global Investment Company LLC [Member] | |||
Note 10 - Related Party (Details) [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $0 | $57,000 | $55,000 |
Note_11_Associate_Benefits_Det
Note 11 - Associate Benefits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure Text Block Supplement [Abstract] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 25.00% | ||
Defined Contribution Plan Maximum Percentage Of Annual Contribution Employee Subject To Match | 6.00% | ||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 20.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $216,000 | $252,000 | $236,000 |
Note_13_Segment_Information_De
Note 13 - Segment Information (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting [Abstract] | ||
Number of Operating Segments | 3 | 2 |
Number of Reportable Segments | 1 |
Note_13_Segment_Information_De1
Note 13 - Segment Information (Details) - Revenue and Assets by Geographic Area (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenue: | |||
Revenues | $98,837 | $92,590 | $86,421 |
Long-lived assets: | |||
Long-lived assets | 76,322 | 74,522 | 76,231 |
Total assets: | |||
Total assets | 129,510 | 111,088 | 100,046 |
UNITED STATES | |||
Revenue: | |||
Revenues | 92,270 | 85,863 | 79,895 |
Long-lived assets: | |||
Long-lived assets | 73,328 | 71,139 | 72,817 |
Total assets: | |||
Total assets | 115,730 | 98,074 | 87,670 |
CANADA | |||
Revenue: | |||
Revenues | 6,567 | 6,727 | 6,526 |
Long-lived assets: | |||
Long-lived assets | 2,994 | 3,383 | 3,414 |
Total assets: | |||
Total assets | $13,780 | $13,014 | $12,376 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) - Valuation and Qualifying Accounts (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for doubtful accounts: | |||
Year Ended December 31 | $183 | $244 | $289 |
Year Ended December 31 | 300 | 145 | 173 |
Year Ended December 31 | 282 | 206 | 218 |
Year Ended December 31 | $201 | $183 | $244 |