Psychemedics (PMDI) 10-Q 24 Jul 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 20, 2019
Document Information [Line Items]
Entity Registrant Name	PSYCHEMEDICS CORP
Entity Central Index Key	0000806517
Trading Symbol	pmd
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		5,516,931
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 7,097	$ 4,069
Marketable securities		3,905
Accounts receivable, net of allowance for doubtful accounts of $46 in 2019 and $67 in 2018	4,526	4,829
Prepaid expenses and other current assets	1,700	1,067
Total Current Assets	13,323	13,870
Fixed assets, net of accumulated amortization and depreciation of $14,820 in 2019 and $13,341 in 2018	9,503	10,177
Other assets	893	927
Operating lease right-of-use assets	1,416
Total Assets	25,135	24,974
Current Liabilities:
Accounts payable	704	682
Accrued expenses	2,220	2,962
Current portion of long-term debt	416	416
Current operating lease liabilities	861
Total Current Liabilities	4,201	4,060
Long-term debt	1,005	1,212
Deferred tax liabilities, long-term	897	955
Long-term operating lease liabilities	555
Total Liabilities	6,658	6,227
Commitments and Contingencies (Note 7)
Shareholders' Equity:
Preferred stock, $0.005 par value, 873 shares authorized, no shares issued or outstanding
Common stock, $0.005 par value; 50,000 shares authorized Shares issued and outstanding: 6,185 in 2019 and 6,175 in 2018	31	31
Additional paid-in capital	31,809	31,523
Accumulated deficit	(1,916)	(1,326)
Less - Treasury stock, at cost, 668 shares	(10,082)	(10,082)
Accumulated other comprehensive loss	(1,365)	(1,399)
Total Shareholders' Equity	18,477	18,747
Total Liabilities and Shareholders' Equity	$ 25,135	$ 24,974

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 46	$ 67
Accumulated amortization and depreciation	$ 14,820	$ 13,341
Preferred stock, par value (in dollars per share)	$ 0.005	$ 0.005
Preferred stock, shares authorized (in shares)	873	873
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	50,000	50,000
Common stock, shares issued (in shares)	6,185	6,175
Common stock, shares outstanding (in shares)	6,185	6,175
Treasury stock, shares (in shares)	668	668

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues	$ 9,289	$ 10,787	$ 19,111	$ 21,722
Cost of revenues	5,120	5,615	10,534	11,195
Gross profit	4,169	5,172	8,577	10,527
Operating Expenses:
General & administrative	1,355	1,457	3,270	3,308
Marketing & selling	1,088	1,301	2,217	2,540
Research & development	400	358	820	717
Total Operating Expenses	2,843	3,116	6,307	6,565
Operating income	1,326	2,056	2,270	3,962
Other income, net	22	24	48	56
Net income before provision for income taxes	1,348	2,080	2,318	4,018
Provision for income taxes	580	903	923	1,590
Net income	768	1,177	1,395	2,428
Other Comprehensive Income (Loss):
Foreign currency translation	82	(1,154)	34	(1,165)
Total Comprehensive Income	$ 850	$ 23	$ 1,429	$ 1,263
Basic net income per share (in dollars per share)	$ 0.14	$ 0.21	$ 0.25	$ 0.44
Diluted net income per share (in dollars per share)	0.14	0.21	0.25	0.44
Dividends declared per share (in dollars per share)	$ 0.18	$ 0.18	$ 0.36	$ 0.36
Weighted average common shares outstanding, basic (in shares)	5,514	5,502	5,510	5,497
Weighted average common shares outstanding, diluted (in shares)	5,523	5,554	5,535	5,552

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	6,160		668
Balance at Dec. 31, 2017	$ 31	$ 31,022	$ (10,082)	$ (2,113)	$ (238)	$ 18,620
Shares issued – vested (in shares)	15
Shares issued – vested
Tax withholding related to employee stock vesting		(92)				(92)
Stock compensation expense		278				278
Cash dividends				(1,812)		(1,812)
Net income				2,428		2,428
Other comprehensive income					(1,165)	(1,165)
Balance (in shares) at Jun. 30, 2018	6,175		668
Balance at Jun. 30, 2018	$ 31	31,208	$ (10,082)	(1,497)	(1,403)	18,257
Balance (in shares) at Dec. 31, 2018	6,175		668
Balance at Dec. 31, 2018	$ 31	31,523	$ (10,082)	(1,326)	(1,399)	18,747
Shares issued – vested (in shares)	10
Shares issued – vested
Tax withholding related to employee stock vesting		(33)				(33)
Stock compensation expense		319				319
Cash dividends				(1,985)		(1,985)
Net income				1,395		1,395
Other comprehensive income					34	34
Balance (in shares) at Jun. 30, 2019	6,185		668
Balance at Jun. 30, 2019	$ 31	$ 31,809	$ (10,082)	$ (1,916)	$ (1,365)	$ 18,477

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Dividends declared per share (in dollars per share)	$ 0.18	$ 0.18	$ 0.36	$ 0.36

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,395	$ 2,428
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,501	1,528
Deferred income taxes	(58)	(105)
Non-cash interest income	36
Stock-based compensation	319	278
Changes in assets and liabilities:
Accounts receivable	303	(857)
Other current assets	(633)	(253)
Accounts payable	(428)	322
Accrued expenses and accrued income taxes	(745)	259
Net cash provided by operating activities	1,690	3,600
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from short-term investments	3,810
Purchases of equipment and leasehold improvements	(165)	(281)
Cost of internally developed software	(191)	(152)
Other assets	14	(102)
Net cash provided by / (used in) investing activities	3,468	(535)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of stock, net of tax withholding	(33)	(92)
Payments of equipment financing	(207)	(478)
Cash dividends paid	(1,985)	(1,812)
Net cash used in financing activities	(2,225)	(2,382)
Effect of exchange rate changes on cash and cash equivalents	95	(1,127)
Net increase (decrease) in cash and cash equivalents	3,028	(444)
Cash and cash equivalents, beginning of period	4,069	8,165
Cash and cash equivalents, end of period	7,097	7,721
Supplemental Disclosures of Cash Flow Information:
Cash paid for income taxes	1,499	1,910
Cash paid for interest	38	56
Cash paid for operating leases	523	502
Right-of-use assets acquired through operating leases	1,927
Purchases of equipment through accounts payable and accrued liabilities	$ 450	$ 397

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The interim condensed consolidated financial statements of Psychemedics Corporation (the “Company”) presented herein, have been prepared pursuant to the rules of the Securities and Exchange Commission for quarterly reports on Form 10 not December 31, 2018, 2018 10 “10 The condensed consolidated balance sheet as of June 30, 2019, three six June 30, 2019 2018, six June 30, 2019 2018 six June 30, 2019 2018 December 31, 2018 not The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three six June 30, 2019 may not may December 31, 2019, Unless the context requires otherwise, the terms “we”, “us”, “our”, or “the Company” refer to Psychemedics Corporation and its consolidated subsidiaries.

Note 2 - Cash and Cash Equivale

Note 2 - Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	2. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of 90

Note 3 - Marketable Securities

Note 3 - Marketable Securities	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Marketable Securities All investments with original maturities of more than 90 June 30, 2019, no

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. Fair Value Measurements The Company has financial instruments, such as accounts receivable, accounts payable, and accrued expenses, which are stated at carrying amounts that approximate fair value because of the short maturity of those instruments. The carrying amount of the Company’s long-term debt approximates fair value as the interest rate on the debt approximates the estimated borrowing rate currently available to the Company.

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	5. Stock-Based Compensation The Company’s 2006 December 31, 2018, 77 2006 2019 350 no 10 June 30, 2019, 221 Share-based compensation is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). The compensation cost charged against income is included in cost of revenues and operating expenses as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Share-based compensation related to: Stock option grants $ 119 $ 73 $ 221 $ 131 Restricted Stock Unit awards ("RSUs") 42 70 98 147 Total share-based compensation $ 161 $ 143 $ 319 $ 278 There was no three six June 30, 2019 2018. A summary of the Company’s stock option activity for the six June 30, 2019 000’s Number of Weighted Average Weighted Average Aggregate (1) Outstanding, December 31, 2018 398 $ 17.09 8.2 years $ 493 Granted 192 $ 10.60 Exercised — Forfeited — Outstanding, June 30, 2019 590 $ 14.98 8.4 years $ — Exercisable, June 30, 2019 239 $ 14.55 7.4 years $ — ( 1 The aggregate intrinsic value on this table was calculated based on the amount, if any, by which the closing market value of the Company’s stock on June 30, 2019 ( $10.09 A summary of the Company’s stock unit award (“SUA”) activity for the six June 30, 2019 000’s Number of Shares Weighted Average Price per Share (2) Weighted Average Fair Value (2) Outstanding & Unvested, December 31, 2018 19 $ 18.20 $ 343 Granted 18 $ 10.60 $ 191 Converted to common stock (10 ) Cancelled (3 ) Forfeited — Outstanding & Unvested, June 30, 2019 24 $ 12.84 $ 311 ( 2 Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants related to each grant of stock unit awards. The weighted average fair value is the weighted average share price times the number of shares. As of June 30, 2019, 835 June 30, 2019, $1.6 3.1

Note 6 - Basic and Diluted Net

Note 6 - Basic and Diluted Net Income Per Share	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	6. Basic and Diluted Net Income Per Share Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted average number of common and dilutive common equivalent shares outstanding during the period. The number of dilutive common equivalent shares outstanding during the period was determined in accordance with the treasury-stock method. Common equivalent shares consisted of common stock issuable upon the exercise of outstanding options and common stock issuable upon the vesting of outstanding, unvested SUAs. Basic and diluted weighted average common shares outstanding for the three six June 30, 2019 2018 Three Months Ended Six Months Ended 2019 2018 2019 2018 Weighted average common shares outstanding, basic 5,514 5,502 5,510 5,497 Dilutive common equivalent shares 9 52 25 55 Weighted average common shares outstanding, diluted 5,523 5,554 5,535 5,552 The computation of diluted earnings per share for the three six June 30, 2019 not three six June 30, 2019, 357 246

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	7. Commitments and Contingencies The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. While the ultimate outcome of individual legal claims is inherently unpredictable, we believe that the final resolution of any pending actions will not

Note 8 - Operating Leases

Note 8 - Operating Leases	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8. Operating Leases The Company has six one not not not As of June 30, 2019, $1.4 842. June 30, 2019 4.1%. June 30, 2019 2.0 three six June 30, 2019 $0.3 $0.5 Maturities and balance sheet presentation of the Company’s lease liabilities for all operating leases as of June 30, 2019 2019 $ 548 2020 648 2021 156 2022 116 2023 18 Total Lease Payments 1,486 Less Interest: (70 ) Present value of lease liabilities $ 1,416 Current operating lease liabilities $ 861 Long-term operating lease liabilities 555 Total $ 1,416

Note 9 - Debt and Other Financi

Note 9 - Debt and Other Financing Arrangements	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	9. Debt and Other Financing Arrangements On March 20, 2014, August 8, 2014, September 15, 2015 October 30, 2018. 10 The weighted average interest rate on outstanding debt under the Loan Agreement was 4.2% three six June 30, 2019. $17 $32 three six June 30, 2019, June 30, 2019, 4.2% $1.4 June 30, 2019. The annual principal repayment requirements for debt obligations as of June 30, 2019 000’s 2019 $ 208 2020 416 2021 416 2022 381 Total long-term debt 1,421 Less current portion of long-term debt (416 ) Total long-term debt, net of current portion $ 1,005

Note 10 - Revenue

Note 10 - Revenue	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	10. Revenue The table below disaggregates our external revenue by major source (in thousands). For additional revenue detail relating to geographic breakdown of sales, see Note 11 Three Months Ended Six Months Ended 2019 2018 2019 2018 Testing $ 8,451 $ 9,864 $ 17,474 $ 19,896 Shipping/Collection (hair) 777 812 1,511 1,636 Other 61 111 126 190 Total Revenue $ 9,289 $ 10,787 $ 19,111 $ 21,722

Note 11 - Business Segment Repo

Note 11 - Business Segment Reporting	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	11. Business Segment Reporting The Company manages its operations as one one 10% Three Months Ended Six Months Ended 2019 2018 2019 2018 Consolidated Revenue: United States $ 6,807 $ 7,565 $ 13,867 $ 14,860 Brazil 2,358 3,101 5,001 6,628 Other 124 121 243 234 Total Revenue $ 9,289 $ 10,787 $ 19,111 $ 21,722

Note 12 - Significant Customers

Note 12 - Significant Customers	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	12. Significant Customers The Company had one 26% six June 30, 2019 31% 2018. two 15% 11% June 30, 2019 one 20% December 31, 2018.

Note 13 - Recently Adopted Acco

Note 13 - Recently Adopted Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	13. Recently Adopted Accounting Pronouncements In February 2016, 2016 02, 2018 10, 2018 11, 2018 20 2019 01 842 12 December 15, 2018 842 January 1, 2019 ( 8 In August 2018, No. 33 10532 March 31, 2019.

Note 14 - Accounting Pronouncem

Note 14 - Accounting Pronouncements Issued But Not Yet Effective	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	14. Accounting Pronouncements Issued But Not In February 2018, 2018 02, 220 2018 02, not 2018 02 2020, In August 2018, 2018 15, 2018 15 2018 15 2020,

Note 15 - Subsequent Events

Note 15 - Subsequent Events	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Events On July 23, 2019 $0.18 $993 August 16, 2019 August 6, 2019.

Note 5 - Stock-based Compensa_2

Note 5 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended Six Months Ended 2019 2018 2019 2018 Share-based compensation related to: Stock option grants $ 119 $ 73 $ 221 $ 131 Restricted Stock Unit awards ("RSUs") 42 70 98 147 Total share-based compensation $ 161 $ 143 $ 319 $ 278
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Weighted Average Weighted Average Aggregate (1) Outstanding, December 31, 2018 398 $ 17.09 8.2 years $ 493 Granted 192 $ 10.60 Exercised — Forfeited — Outstanding, June 30, 2019 590 $ 14.98 8.4 years $ — Exercisable, June 30, 2019 239 $ 14.55 7.4 years $ —
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Shares Weighted Average Price per Share (2) Weighted Average Fair Value (2) Outstanding & Unvested, December 31, 2018 19 $ 18.20 $ 343 Granted 18 $ 10.60 $ 191 Converted to common stock (10 ) Cancelled (3 ) Forfeited — Outstanding & Unvested, June 30, 2019 24 $ 12.84 $ 311

Note 6 - Basic and Diluted Ne_2

Note 6 - Basic and Diluted Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended 2019 2018 2019 2018 Weighted average common shares outstanding, basic 5,514 5,502 5,510 5,497 Dilutive common equivalent shares 9 52 25 55 Weighted average common shares outstanding, diluted 5,523 5,554 5,535 5,552

Note 8 - Operating Leases (Tabl

Note 8 - Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2019 $ 548 2020 648 2021 156 2022 116 2023 18 Total Lease Payments 1,486 Less Interest: (70 ) Present value of lease liabilities $ 1,416 Current operating lease liabilities $ 861 Long-term operating lease liabilities 555 Total $ 1,416

Note 9 - Debt and Other Finan_2

Note 9 - Debt and Other Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	2019 $ 208 2020 416 2021 416 2022 381 Total long-term debt 1,421 Less current portion of long-term debt (416 ) Total long-term debt, net of current portion $ 1,005

Note 10 - Revenue (Tables)

Note 10 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended 2019 2018 2019 2018 Testing $ 8,451 $ 9,864 $ 17,474 $ 19,896 Shipping/Collection (hair) 777 812 1,511 1,636 Other 61 111 126 190 Total Revenue $ 9,289 $ 10,787 $ 19,111 $ 21,722

Note 11 - Business Segment Re_2

Note 11 - Business Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended 2019 2018 2019 2018 Consolidated Revenue: United States $ 6,807 $ 7,565 $ 13,867 $ 14,860 Brazil 2,358 3,101 5,001 6,628 Other 124 121 243 234 Total Revenue $ 9,289 $ 10,787 $ 19,111 $ 21,722

Note 3 - Marketable Securities

Note 3 - Marketable Securities (Details Textual) $ in Thousands	Jun. 30, 2019USD ($)
Marketable Securities, Total	$ 0

Note 5 - Stock-based Compensa_3

Note 5 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	21822 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Jun. 30, 2019	Jan. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			8 years 146 days		8 years 73 days
Incentive Plan 2006 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	221		221		77	221	350
Share-based Payment Arrangement, Expense, Tax Benefit	$ 0	$ 0	$ 0	$ 0
Share Price	$ 10.09		$ 10.09			$ 10.09
Common Stock, Capital Shares Reserved for Future Issuance	835		835			835
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 1,600		$ 1,600			$ 1,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term						3 years 36 days

Note 5 - Stock-based Compensa_4

Note 5 - Stock-based Compensation - Compensation Cost (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based compensation	$ 161	$ 143	$ 319	$ 278
Share-based Payment Arrangement, Option [Member]
Share-based compensation	119	73	221	131
Restricted Stock Units (RSUs) [Member]
Share-based compensation	$ 42	$ 70	$ 98	$ 147

Note 5 - Stock-based Compensa_5

Note 5 - Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares		Dec. 31, 2018USD ($)$ / sharesshares
Outstanding (in shares) | shares	398
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 17.09
Outstanding, weighted average remaining contractual life (Year)	8 years 146 days		8 years 73 days
Outstanding, aggregate intrinsic value | $		[1]	$ 493	[1]
Granted (in shares) | shares	192
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 10.60
Exercised (in shares) | shares
Exercised, weighted average exercise price (in dollars per share) | $ / shares
Forfeited (in shares) | shares
Forfeited, weighted average exercise price (in dollars per share) | $ / shares
Outstanding (in shares) | shares	590		398
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 14.98		$ 17.09
Exercisable (in shares) | shares	239
Exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 14.55
Exercisable, weighted average remaining contractual life (Year)	7 years 146 days
Exercisable, aggregate intrinsic value | $		[1]
[1]	The aggregate intrinsic value on this table was calculated based on the amount, if any, by which the closing market value of the Company's stock on June 30, 2019 ($10.09) exceeded the exercise price of the underlying options, multiplied by the number of shares subject to each option.

Note 5 - Stock-based Compensa_6

Note 5 - Stock-based Compensation - Nonvested Award Activity (Details) - Stock Unit Award [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		6 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Outstanding & Unvested at beginning of period (in shares)		19
Outstanding & Unvested at beginning of period, weighted average price per share (in dollars per share)	[1]	$ 18.20
Outstanding & Unvested at beginning of period, weighted average fair value	[1]	$ 311	$ 343
Granted (in shares)		18
Granted, weighted average price per share (in dollars per share)	[1]	$ 10.60
Granted, weighted average fair value	[1]	$ 191
Converted to common stock (in shares)		(10)
Converted to common stock, weighted average price per share (in dollars per share)
Converted to common stock, weighted average fair value
Cancelled (in shares)		(3)
Cancelled, weighted average price per share (in dollars per share)
Cancelled, weighted average fair value
Forfeited (in shares)
Forfeited, weighted average price per share (in dollars per share)
Forfeited, weighted average fair value
Outstanding & Unvested at end of period (in shares)		24
Outstanding & Unvested at end of period, weighted average price per share (in dollars per share)	[1]	$ 12.84
[1]	Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants related to each grant of stock unit awards. The weighted average fair value is the weighted average share price times the number of shares.

Note 6 - Basic and Diluted Ne_3

Note 6 - Basic and Diluted Net Income Per Share (Details Textual) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	357	246

Note 6 - Basic and Diluted Ne_4

Note 6 - Basic and Diluted Net Income Per Share - Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Weighted average common shares outstanding, basic (in shares)	5,514	5,502	5,510	5,497
Dilutive common equivalent shares (in shares)	9	52	25	55
Weighted average common shares outstanding, diluted (in shares)	5,523	5,554	5,535	5,552

Note 8 - Operating Leases (Deta

Note 8 - Operating Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Operating Lease, Right-of-Use Asset	$ 1,416	$ 1,416
Operating Lease, Weighted Average Discount Rate, Percent	4.10%	4.10%
Operating Lease, Weighted Average Remaining Lease Term	2 years	2 years
Operating Lease, Expense	$ 300	$ 500
Operating Lease, Liability, Total	$ 1,416	$ 1,416

Note 8 - Operating Leases - Mat

Note 8 - Operating Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
2019	$ 548
2020	648
2021	156
2022	116
2023	18
Total Lease Payments	1,486
Less Interest:	(70)
Present value of lease liabilities	1,416
Current operating lease liabilities	861
Long-term operating lease liabilities	555
Total	$ 1,416

Note 9 - Debt and Other Finan_3

Note 9 - Debt and Other Financing Arrangements (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Long-term Debt, Total	$ 1,421	$ 1,421
Loan Agreement [Member]
Long-term Debt, Weighted Average Interest Rate, over Time	4.20%	4.20%
Interest Expense, Total	$ 17	$ 32
Debt Instrument, Interest Rate, Effective Percentage	4.20%	4.20%
Long-term Debt, Total	$ 1,400	$ 1,400

Note 9 - Debt and Other Finan_4

Note 9 - Debt and Other Financing Arrangements - Schedule of Debt Repayments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
2019	$ 208
2020	416
2021	416
2022	381
Total long-term debt	1,421
Less current portion of long-term debt	(416)	$ (416)
Total long-term debt, net of current portion	$ 1,005	$ 1,212

Note 10 - Revenue - Revenue by

Note 10 - Revenue - Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues	$ 9,289	$ 10,787	$ 19,111	$ 21,722
Testing [Member]
Revenues	8,451	9,864	17,474	19,896
Shipping/Collection (Hair) [Member]
Revenues	777	812	1,511	1,636
Other Revenue [Member]
Revenues	$ 61	$ 111	$ 126	$ 190

Note 11 - Business Segment Re_3

Note 11 - Business Segment Reporting (Details Textual)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Number of Operating Segments	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	1	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | BRAZIL
Number of Major Customers	1
Concentration Risk, Percentage	10.00%

Note 11 - Business Segment Re_4

Note 11 - Business Segment Reporting Assets By Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues	$ 9,289	$ 10,787	$ 19,111	$ 21,722
UNITED STATES
Revenues	6,807	7,565	13,867	14,860
BRAZIL
Revenues	2,358	3,101	5,001	6,628
Other Foreign Countries [Member]
Revenues	$ 124	$ 121	$ 243	$ 234

Note 12 - Significant Custome_2

Note 12 - Significant Customers (Details Textual) - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Revenue Benchmark [Member]
Number of Major Customers	1	1
Revenue Benchmark [Member] | Customer One [Member]
Concentration Risk, Percentage	26.00%	31.00%
Accounts Receivable [Member]
Number of Major Customers	2	1
Accounts Receivable [Member] | Customer One [Member]
Concentration Risk, Percentage	15.00%	20.00%
Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage	11.00%

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jul. 23, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Common Stock, Dividends, Per Share, Declared		$ 0.18	$ 0.18	$ 0.36	$ 0.36
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.18
Dividends, Total	$ 993
Dividends Payable, Date Declared	Jul. 23, 2019
Dividends Payable, Date of Record	Aug. 16, 2019