Intricon (IIN) 10-Q 12 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	INTRICON CORP
Entity Central Index Key	88,790
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,977,053

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 397	$ 328
Restricted cash	592	640
Accounts receivable, less allowance for doubtful accounts of $113 at September 30, 2015 and $120 at December 31, 2014	7,492	7,673
Inventories	13,137	9,983
Other current assets	1,028	1,013
Total current assets	22,646	19,637
Machinery and equipment	37,963	35,104
Less: Accumulated depreciation	31,936	30,859
Net machinery and equipment	6,027	4,245
Goodwill	9,194	9,194
Investment in partnerships	278	387
Other assets, net	408	498
Total assets	38,553	33,961
Current liabilities:
Checks written in excess of cash	1,057	516
Current maturities of long-term debt	1,929	1,886
Accounts payable	6,634	5,438
Accrued salaries, wages and commissions	2,908	2,519
Deferred gain	83	110
Other accrued liabilities	1,391	1,364
Total current liabilities	14,002	11,833
Long-term debt, less current maturities	5,121	4,627
Other postretirement benefit obligations	481	485
Accrued pension liabilities	686	741
Deferred gain		55
Other long-term liabilities	94	113
Total liabilities	$ 20,384	$ 17,854
Commitments and contingencies (note 11)
Shareholders' equity:
Common stock, $1.00 par value per share; 20,000 shares authorized; 5,977 and 5,844 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	$ 5,977	$ 5,844
Additional paid-in capital	17,565	16,939
Accumulated deficit	(4,856)	(6,274)
Accumulated other comprehensive loss	(517)	(402)
Total shareholders' equity	18,169	16,107
Total liabilities and shareholders' equity	$ 38,553	$ 33,961

Consolidated Condensed Balance3

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Consolidated Condensed Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 113	$ 120
Common shares, par value	$ 1	$ 1
Common shares, shares authorized	20,000,000	20,000,000
Common shares, shares issued	5,977,000	5,844,000
Common shares, shares outstanding	5,977,000	5,844,000

Consolidated Condensed Statemen

Consolidated Condensed Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Condensed Statements Of Operations [Abstract]
Sales, net	$ 17,341	$ 17,005	$ 51,063	$ 51,822
Cost of sales	12,706	12,529	37,515	37,801
Gross profit	4,635	4,476	13,548	14,021
Operating expenses:
Sales and marketing	854	917	2,739	2,815
General and administrative	1,708	1,647	5,150	4,887
Research and development	1,344	1,214	3,864	3,530
Restructuring charges (note 3)				83
Total operating expenses	3,906	3,778	11,753	11,315
Operating income	729	698	1,795	2,706
Interest expense	(95)	(99)	(287)	(362)
Other income (expense)	(131)	27	17	(35)
Income from continuing operations before income taxes and discontinued operations	503	626	1,525	2,309
Income tax (benefit) expense	(125)	68	107	151
Income before discontinued operations	$ 628	$ 558	$ 1,418	2,158
Loss on sale of discontinued operations (note 4)				(120)
Loss from discontinued operations, net of income taxes				(150)
Net income	$ 628	$ 558	$ 1,418	$ 1,888
Basic income (loss) per share:
Continuing operations	$ 0.11	$ 0.10	$ 0.24	$ 0.37
Discontinued operations				(0.05)
Net income per share:	0.11	0.10	0.24	0.33
Diluted income (loss) per share:
Continuing operations	0.10	0.09	0.23	0.36
Discontinued operations				(0.04)
Net income per share	$ 0.10	$ 0.09	$ 0.23	$ 0.31
Average shares outstanding:
Basic	5,943	5,820	5,873	5,777
Diluted	6,210	6,148	6,214	6,037

Consolidated Condensed Stateme5

Consolidated Condensed Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Condensed Statements Of Comprehensive Income [Abstract]
Net income	$ 628	$ 558	$ 1,418	$ 1,888
Change in fair value of interest rate swap	(31)	(16)	(64)	3
Gain (loss) on foreign currency translation adjustment	21	(56)	(51)	(48)
Comprehensive income	$ 618	$ 486	$ 1,303	$ 1,843

Consolidated Condensed Stateme6

Consolidated Condensed Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 1,418	$ 1,888
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,281	1,634
Stock-based compensation	445	352
Change in deferred gain	(83)	(83)
Change in allowance for doubtful accounts	(6)	(6)
Equity in loss of partnerships	154	157
Loss on sale of discontinued operations		120
Changes in operating assets and liabilities:
Accounts receivable	248	(1,645)
Inventories	(3,150)	(802)
Other assets	(80)	90
Accounts payable	1,189	412
Accrued expenses	467	776
Other liabilities	(199)	42
Net cash provided by operating activities	1,684	2,935
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment		31
Proceeds of sale of discontinued operations		500
Purchases of property, plant and equipment	(2,868)	(981)
Other	(45)
Net cash used in investing activities	(2,913)	(450)
Cash flows from financing activities:
Proceeds from long-term borrowings	12,903	10,580
Repayments of long-term borrowings	(12,422)	(12,549)
Proceeds from employee stock purchases and exercise of stock options	315	125
Change in restricted cash	71	(69)
Change in checks written in excess of cash	540	(279)
Net cash provided by (used in) financing activities	1,407	(2,192)
Effect of exchange rate changes on cash	(109)	(102)
Net increase in cash	69	191
Cash, beginning of period	328	217
Cash, end of period	$ 397	$ 408

General

General	9 Months Ended
	Sep. 30, 2015
General [Abstract]
General	1. General In the opinion of management, the accompanying consolidated condensed financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly IntriCon Corporation's (“IntriCon” or the “Company”) consolidated financial position as of September 30, 2015 and December 31, 2014, the consolidated results of its operations for the three and nine months ended September 30, 2015 and 2014 and for the cash flows for the nine month ended September 30, 2015 and 2014. Results of operations for the interim periods are not necessarily indicative of the results of operations expected for the full year or any other interim period. Certain prior balances have been reclassified. The reclassification does not impact previously reported net income or shareholders’ equity. On June 13, 2013, the Company announced a global restructuring plan to accelerate future growth and reduce costs. As part of the restructuring, the Company sold its security and certain microphone and receiver operations on January 27, 2014 to Sierra Peaks Corporation. For all periods presented, the Company classified these businesses as discontinued operations (Note 4). The Company has evaluated subsequent events occurring after the date of the consolidated financial statements for events requiring recording or disclosure in the financial statements.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	2. New Accounting Pronouncements In February 2015, the FASB issued Accounting Standards Update No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , or ASU 2015-02. ASU 2015-02 amends current consolidation guidance by modifying the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, eliminating the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with variable interest entities. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. All legal entities are subject to reevaluation under the revised consolidation model. The adoption of ASU 2015-02 is not expected to have a material impact on our consolidated financial position, results of operations or cash flows. In May 2014, the Financial Accounting Standards Board issued new accounting guidance related to revenue recognition. This new standard will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective for the Company beginning January 1, 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact on the Company’s consolidated financial statements

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2015
Restructuring Charges [Abstract]
Restructuring Charges	3. Restructuring Charges On June 13, 2013 the Company announced a global strategic restructuring plan designed to accelerate the Company’s future growth by focusing resources on the highest potential growth areas and reduce costs. The plan was approved by the Company’s Board of Directors on June 12, 2013. As part of this plan, the Company: reduced investment in certain non-core professional audio communications product lines; transferred specific product lines from Singapore to the Company’s lower-cost manufacturing facility in Batam, Indonesia; reduced global administrative and support workforce; transferred the medical coil operations from the Company’s Maine facility to Minnesota to better leverage existing manufacturing capacity; sold its remaining security, microphone and receiver operations; added experienced professionals in value hearing health; and focused more resources in medical biotelemetry. During the nine months ended September 30, 2014, the Company incurred restructuring charges of $83 , primarily related to employee termination benefits, from the restructuring of its continuing operations. The Company does not expect to incur any additional cash charges related to this restructuring.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2015
Discontinued Operations [Abstract]
Discontinued Operations	4. Discontinued Operations On June 13, 2013, the Company announced a global strategic restructuring plan designed to accelerate the Company’s future growth and reduce costs. See Note 1 and 3 for additional information. As part of the global strategic restructuring plan, the Company decided to exit the security and certain microphone and receiver businesses. On January 27, 2014, the Company completed the sale of the security business and certain microphone and receiver businesses of IntriCon Tibbetts Corporation, IntriCon’s wholly owned subsidiary based in Camden, Maine, to Sierra Peaks Corporation, pursuant to an Asset Purchase Agreement entered into on January 27, 2014 between Sierra Peaks Corporation, as the buyer, and IntriCon Tibbetts Corporation as the seller. Sierra Peaks Corporation paid $500 cash at closing for the assets and assumed certain operating liabilities of the businesses. The Company recorded a loss on the sale of $120. The net loss was computed as follows: Accounts receivable, net $ Inventory, net Property, plant and equipment, net Other assets Accounts payable Net assets sold $ Cash proceeds received from Sierra Peaks Net assets sold Transaction costs Loss on sale of discontinued operations, net of income taxes $ The following table shows the results of operations of the Company’s discontinued operations: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30 2015 2014 2015 2014 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales, net $ - $ - $ - $ Operating costs and expenses - - - Operating loss - - - Other income, net - - - - Net loss from discontinued operations $ - $ - $ - $

Geographic Information

Geographic Information	9 Months Ended
	Sep. 30, 2015
Geographic Information [Abstract]
Geographic Information	5. Geographic Information The geographical distribution of long-lived assets to geographical areas consisted of the following at: September 30, December 31, 2015 2014 United States $ $ Other – primarily Asia Consolidated $ $ Long-lived assets consist of property and equipment. Excluded from long-lived assets are investments in partnerships, patents, license agreements and goodwill. The Company capitalizes long-lived assets pertaining to the production of specialized parts. These assets are periodically reviewed to assure the net realizable value from the estimated future production based on forecasted cash flows exceeds the carrying value of the assets. The geographical distribution of net sales to geographical areas for the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 United States $ $ $ $ Europe Asia All other countries Consolidated $ $ $ $ Geographic net sales are allocated based on the location of the customer. For the three and nine months ended September 30, 2015, one customer accounted for 46% and 42% of the Company’s consolidated net sales. For the three and nine months ended September 30, 2014, one customer accounted for 36% and 38% of the Company’s consolidated net sales. At September 30, 2015, two customers combined accounted for 34% of the Company’s consolidated accounts receivable. At December 31, 2014, two customers combined accounted for 27% of the Company’s consolidated accounts receivable.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Inventories	6. Inventories Inventories consisted of the following at: Raw materials Work-in process Finished products and components Total September 30, 2015 Domestic $ $ $ $ Foreign Total $ $ $ $ December 31, 2014 Domestic $ $ $ $ Foreign Total $ $ $ $

Short And Long-Term Debt

Short And Long-Term Debt	9 Months Ended
	Sep. 30, 2015
Short And Long-Term Debt [Abstract]
Short And Long-Term Debt	7. Short and Long-Term Debt Short and long-term debt is summarized as follows: September 30, December 31, 2015 2014 Domestic Asset-Based Revolving Credit Facility $ $ Foreign Overdraft and Letter of Credit Facility Domestic Term-Loan Total Debt Less: Current maturities Total Long-Term Debt $ $ Domestic Credit Facilities The Company and its domestic subsidiaries are parties to a credit facility with The PrivateBank and Trust Company. The credit facility, as amended, provides for: · an $8,000 revolving credit facility, with a $200 sub facility for letters of credit. Under the revolving credit facility, the availability of funds depends on a borrowing base composed of stated percentages of the Company’s eligible trade receivables and eligible inventory, and eligible equipment less a reserve; and · a term loan in the original amount of $5,000 . In March 2015, the Company and its domestic subsidiaries entered into a Seventh Amendment to the Loan and Security Agreement with The PrivateBank and Trust Company. The amendment, among other things: · increased the Company’s term loan to $5,000 from its then current balance of $1,750 , as a result of which the Company borrowed an additional $3,250 under the term loan facility; · extended the term loan and revolving loan maturity date to February 28, 2019 , keeping the existing term loan amortization schedule in place; · increased the annual capital expenditure limit to $4,500 ; · implemented investment provisions that allow for up to $4,000 in investment spending prior to requiring bank approval; and · lowered interest rates on the term loan and revolving loan. All of the borrowings under this agreement have been characterized as either a current or long-term liability on our balance sheet in accordance with the repayment terms described more fully below. Loans under the credit facility are secured by a security interest in substantially all of the assets of the Company and its domestic subsidiaries including a pledge of the stock of its domestic subsidiaries. Loans under the credit facility bear interest at varying rates based on the Company’s leverage ratio of funded debt / EBITDA, at the option of the Company, at: · the London InterBank Offered Rate (“LIBOR”) plus 2.50% - 4.00% , or · the base rate, which is the higher of (a) the rate publicly announced from time to time by the lender as its “prime rate” and (b) the Federal Funds Rate plus 0.5% , plus 0.00% - 1.25% ; in each case, depending on the Company’s leverage ratio. Interest is payable monthly in arrears, except that interest on LIBOR based loans is payable at the end of the one, two or three month interest periods applicable to LIBOR based loans. IntriCon is also required to pay a non-use fee equal to 0.25% per year of the unused portion of the revolving line of credit facility, payable quarterly in arrears. Weighted average interest on the revolving credit facility was 4.03% for the nine months ended September 30, 2015 and 4.51% for the year ended December 31, 2014. The outstanding balance of the revolving credit facility was $1,611 and $3,843 at September 30, 2015 and December 31, 2014, respectively. The total availability on the revolving credit facility was approximately $6,389 and $3,456 at September 30, 2015 and December 31, 2014, respectively. The outstanding principal balance of the term loan, as amended, is payable in quarterly installments of $250 . Any remaining principal and accrued interest is payable on February 28, 2019. IntriCon is also required to use 100% of the net cash proceeds of certain asset sales (excluding inventory and certain other dispositions), sale of capital securities or issuance of debt to pay down the term loan. The Company was in compliance with the financial covenants under the facility as of September 30, 2015. Foreign Credit Facility In addition to its domestic credit facilities, the Company’s wholly-owned subsidiary, IntriCon, PTE LTD., entered into an international senior secured credit agreement with Oversea-Chinese Banking Corporation Ltd. that provides for an asset based line of credit. Borrowings bear interest at a rate of .75% to 2.5% over the lender’s prevailing prime lending rate. Weighted average interest on the international credit facilities was 3.44% and 4.50% for the nine months ended September 30, 2015 and the year ended December 31, 2014. The outstanding balance was $939 and $920 at September 30, 2015 and December 31, 2014, respectively. The total remaining availability on the international senior secured credit agreement was approximately $791 and $956 at September 30, 2015 and December 31, 2014, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income Taxes	8. Income Taxes Income tax expense (benefit) for the three and nine months ended September 30, 2015 was ($ 125) and $1 07 compared to $ 68 and $151 for the same periods in 2014. The expense (benefit) was primarily due to foreign operations. The Company has net operating loss carryforwards for U.S. federal income tax purposes and, consequently, minimal federal benefit or expense from the domestic operations was recognized as the deferred tax asset has a full valuation allowance. The following was the income (loss) before income taxes for each jurisdiction in which the Company has operations for the three and nine months ended September 30, 2015 and 2014. Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 United States $ $ $ $ Singapore Indonesia Germany Income (loss) before income taxes and discontinued operations $ $ $ $

Shareholders' Equity And Stock-

Shareholders' Equity And Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Shareholders' Equity and Stock-Based Compensation [Abstract]
Shareholders' Equity And Stock-Based Compensation	9. Shareholders’ Equity and Stock-based Compensation The Company has a 2001 stock option plan, a non-employee directors’ stock option plan, a 2006 Equity Incentive Plan and a 2015 Equity Incentive Plan. The 2015 Equity Incentive Plan, which was approved by the shareholders on April 24, 2015, replaced the 2006 Equity Incentive Plan. New grants may not be made under the 2001, 2006 and the non-employee directors’ stock option plans; however certain option grants under these plans remain exercisable as of September 30, 2015. The aggregate number of shares of common stock for which awards can be granted under the 2015 Equity Incentive Plan as of the date of adoption was 500 shares. Additionally, as outstanding options under the 2001, 2006 and non-employee directors’ plans expire, the shares of the Company’s common stock subject to the expired options will become available for issuance under the 2015 Equity Incentive Plan. Under the various plans, executives, employees and outside directors receive awards of options to purchase common stock. Under the 2015 Equity Incentive Plan, the Company may also grant stock awards, stock appreciation rights, restricted stock units and other equity-based awards, although no such awards, other than awards under the director program and management purchase program described below, had been granted as of September 30, 2015. Under all awards, the terms are fixed on the grant date. Generally, the exercise price of stock options equals the market price of the Company’s stock on the date of the grant. Options under the plans generally vest over three years, and have a maximum term of 10 years. Additionally, the board has established the non-employee directors’ stock fee election program, referred to as the director program, as an award under the 2015 Equity Incentive Plan. The director program gives each non-employee director the right under the 2015 Equity Incentive Plan to elect to have some or all of his quarterly director fees paid in common shares rather than cash. No shares were issued in lieu of cash for director fees under the director program for the three and nine months ended September 30, 2015 and 2014. On July 23, 2008, the Compensation Committee of the Board of Directors approved the non-employee director and executive officer stock purchase program, referred to as the management purchase program, as an award under the 2015 Plan. The purpose of the management purchase program is to permit the Company’s non-employee directors and executive officers to purchase shares of the Company’s Common Stock directly from the Company. Pursuant to the management purchase program, as amended, participants may elect to purchase shares of Common Stock from the Company not exceeding an aggregate of $100 during any fiscal year. Participants may make such election one time during each twenty business day period following the public release of the Company’s earnings announcement, referred to as a window period, and only if such participant is not in possession of material, non-public information concerning the Company and subject to the discretion of the Board to prohibit any transactions in Common Stock by directors and executive officers during a window period. There were no shares purchased under the management purchase program during the three and nine months ended September 30, 2015 and 2014, respectively. Stock option activity as of and during the nine months ended September 30, 2015 was as follows: Weighted-average Aggregate Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2014 $ Options forfeited or cancelled - - Options expired - - Options granted Options exercised Outstanding at September 30, 2015 $ $ Exercisable at September 30, 2015 $ $ Available for future grant at December 31, 2014 Available for future grant at September 30, 2015 The number of shares available for future grants at September 30, 2015 does not include a total of up to 1,283 shares subject to options outstanding at September 3, 2015 under the 2001, 2006 and non-employee directors’ plans which will become available for grant under the 2015 Equity Incentive Plan in the event of the expiration of such options. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. In addition, option-pricing models require the input of subjective assumptions, including the expected stock price volatility. Because the Company’s options have characteristics different from those of traded options, in the opinion of management, the existing models do not necessarily provide a reliable single measure of the fair value of its options. The weighted average fair value of options granted was $7.14 for options granted during the nine months ended September 30, 2015. The weighted average fair value of options granted was $3.17 for options granted during the nine months ended September 30, 2014. The Company calculates expected volatility for stock options and awards using the Company’s historical volatility. The Company currently estimates a five percent forfeiture rate for stock options, but will continue to review this estimate in future periods. The risk-free rates for the expected terms of the stock options and awards are based on the U.S. Treasury yield curve in effect at the time of grant. The weighted average remaining contractual life of options exercisable at September 30, 2015 was 5.41 years. The Company recorded $131 and $445 of non-cash stock option expense for the three and nine months ended September 30, 2015. The Company recorded $110 and $352 of non-cash stock option expense for the three and nine months ended September 30, 2014. As of September 30, 2015, there was $849 of total unrecognized compensation costs related to non-vested awards that are expected to be recognized over a weighted-average period of 2.05 years. The Company also has an Employee Stock Purchase Plan (the “Purchase Plan”). The Purchase Plan initially provided that a maximum of 100 shares may be sold under the Purchase Plan as of the date of adoption. On April 27, 2011, the Company’s shareholders approved an amendment to the Purchase Plan to increase the number of shares which may be purchased under the plan by an additional 100 shares. There were 3 and 10 shares purchased under the plan for the three and nine months ended September 30, 2015 and a total of 4 and 12 shares purchased for the three and nine months ended September 30, 2014.

Income Per Share

Income Per Share	9 Months Ended
	Sep. 30, 2015
Income Per Share [Abstract]
Income Per Share	10. Income Per Share The following table presents a reconciliation between basic and diluted earnings per share: Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Numerator: Income before discontinued operations $ $ $ $ Loss from discontinued operations, net of income taxes - - - Net income $ $ $ $ Denominator: Basic – weighted shares outstanding Weighted shares assumed upon exercise of stock options Diluted – weighted shares outstanding Basic income (loss) per share: Continuing operations $ $ $ $ Discontinued operations - - - Net income per share: $ $ $ $ Diluted income (loss) per share: Continuing operations $ $ $ $ Discontinued operations - - - Net income per share: $ $ $ $ The dilutive impact summarized above relates to the periods when the average market price of Company stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock method when computing the diluted earnings per share. Individual components of basic and diluted income (loss) per share may not sum to the total income (loss) per share due to rounding.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2015
Legal Proceedings [Abstract]
Legal Proceedings	11. Legal Proceedings The Company is a defendant along with a number of other parties in lawsuits alleging that plaintiffs have or may have contracted asbestos-related diseases as a result of exposure to asbestos products or equipment containing asbestos sold by one or more named defendants. These lawsuits relate to the discontinued heat technologies segment which was sold in March 2005. Due to the non-informative nature of the complaints, the Company does not know whether any of the complaints state valid claims against the Company. Certain insurance carriers have informed the Company that the primary policies for the period August 1, 1970-1978 have been exhausted and that the carriers will no longer provide defense and insurance coverage under those policies. However, the Company has other primary and excess insurance policies that the Company believes afford coverage for later years. Some of these other primary insurers have accepted defense and insurance coverage for these suits, and some of them have either ignored the Company’s tender of defense of these cases, or have denied coverage, or have accepted the tenders but asserted a reservation of rights and/or advised the Company that they need to investigate further. Because settlement payments are applied to all years a litigant was deemed to have been exposed to asbestos, the Company believes that it will have funds available for defense and insurance coverage under the non-exhausted primary and excess insurance policies. However, unlike the older policies, the more recent policies have deductible amounts for defense and settlements costs that the Company will be required to pay; accordingly, the Company expects that its litigation costs will increase in the future. Further, many of the policies covering later years (approximately 1984 and thereafter) have exclusions for any asbestos products or operations, and thus do not provide insurance coverage for asbestos-related lawsuits. The Company does not believe that the asserted exhaustion of some of the primary insurance coverage for the 1970-1978 period will have a material adverse effect on its financial condition, liquidity, or results of operations. Management believes that the number of insurance carriers involved in the defense of the suits, and the significant number of policy years and policy limits under which these insurance carriers are insuring the Company, make the ultimate disposition of these lawsuits not material to the Company's consolidated financial position or results of operations. The Company’s former French subsidiary, Selas SAS, filed for insolvency in France. The Company may be subject to additional litigation or liabilities as a result of the French insolvency proceeding. The Company is also involved in other lawsuits arising in the normal course of business. While it is not possible to predict with certainty the outcome of these matters, management is of the opinion that the disposition of these lawsuits and claims will not materially affect our consolidated financial position, liquidity or results of operations.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2015
Related-Party Transactions [Abstract]
Related-Party Transactions	12. Related-Party Transactions One of the Company’s subsidiaries leases office and factory space from a partnership consisting of three present or former officers of the subsidiary, including Mark Gorder, a member of the Company’s Board of Directors and the President and Chief Executive Officer of the Company. The subsidiary is required to pay all real estate taxes and operating expenses. The total base rent expense, real estate taxes and other charges incurred under the lease were approximately $121 and $365 for the three and nine months ended September 30, 2015 and approximately $122 and $367 for the three and nine months ended September 30, 2014. The Company uses the law firm of Blank Rome LLP for legal services. A partner of that firm is the son-in-law of the Chairman of the Company’s Board of Directors. For the three and nine months ended September 30, 2015, the Company paid that firm approximately $26 and $145 for legal services and costs. For the three and nine months ended September 30, 2014, the Company paid that firm approximately $48 and $135 for legal services and costs. The Chairman of our Board of Directors is considered independent under applicable Nasdaq and Securities Exchange Commission rules because (i) no payments were made to the Chairman or the partner directly in exchange for the services provided by the law firm and (ii) the amounts paid to the law firm did not exceed the thresholds contained in the Nasdaq standards. Furthermore, the aforementioned partner does not provide any legal services to the Company and is not involved in billing matters.

Revenue By Market

Revenue By Market	9 Months Ended
	Sep. 30, 2015
Revenue By Market [Abstract]
Revenue By Market	13. Revenue by Market The following tables set forth, for the periods indicated, net revenue by market: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Medical $ $ $ $ Hearing Health Professional Audio Communications Total Revenue $ $ $ $

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Event On October 28 th , 2015 the Company established IntriCon UK Limited which, on November 3, 2015, acquired the assets of PC Werth Limited , a leading supplier of hearing healthcare products and equipment to the United Kingdom ’s National Health Service . 14

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2015
Discontinued Operations [Abstract]
Schedule Of Loss On Sale Of Discontinued Operations	Accounts receivable, net $ Inventory, net Property, plant and equipment, net Other assets Accounts payable Net assets sold $ Cash proceeds received from Sierra Peaks Net assets sold Transaction costs Loss on sale of discontinued operations, net of income taxes $
Summary Of Results Of Discontinued Operations	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30 2015 2014 2015 2014 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales, net $ - $ - $ - $ Operating costs and expenses - - - Operating loss - - - Other income, net - - - - Net loss from discontinued operations $ - $ - $ - $

Geographic Information (Tables)

Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2015
Geographic Information [Abstract]
Geographical Distribution Of Long-Lived Assets	September 30, December 31, 2015 2014 United States $ $ Other – primarily Asia Consolidated $ $
Geographical Distribution Of Net Sales	Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 United States $ $ $ $ Europe Asia All other countries Consolidated $ $ $ $

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Schedule Of Inventories	Raw materials Work-in process Finished products and components Total September 30, 2015 Domestic $ $ $ $ Foreign Total $ $ $ $ December 31, 2014 Domestic $ $ $ $ Foreign Total $ $ $ $

Short And Long-Term Debt (Table

Short And Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Short And Long-Term Debt [Abstract]
Summary Of Short And Long-Term Debt	September 30, December 31, 2015 2014 Domestic Asset-Based Revolving Credit Facility $ $ Foreign Overdraft and Letter of Credit Facility Domestic Term-Loan Total Debt Less: Current maturities Total Long-Term Debt $ $

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income (Loss) Before Income Taxes By Jurisdiction	Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 United States $ $ $ $ Singapore Indonesia Germany Income (loss) before income taxes and discontinued operations $ $ $ $

Shareholders' Equity And Stoc26

Shareholders' Equity And Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Shareholders' Equity and Stock-Based Compensation [Abstract]
Schedule Of Stock Option Activity	Weighted-average Aggregate Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2014 $ Options forfeited or cancelled - - Options expired - - Options granted Options exercised Outstanding at September 30, 2015 $ $ Exercisable at September 30, 2015 $ $ Available for future grant at December 31, 2014 Available for future grant at September 30, 2015

Income Per Share (Tables)

Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Income Per Share [Abstract]
Reconciliation Between Basic And Diluted Earnings Per Share	Three Months Ended Nine Months Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Numerator: Income before discontinued operations $ $ $ $ Loss from discontinued operations, net of income taxes - - - Net income $ $ $ $ Denominator: Basic – weighted shares outstanding Weighted shares assumed upon exercise of stock options Diluted – weighted shares outstanding Basic income (loss) per share: Continuing operations $ $ $ $ Discontinued operations - - - Net income per share: $ $ $ $ Diluted income (loss) per share: Continuing operations $ $ $ $ Discontinued operations - - - Net income per share: $ $ $ $

Revenue By Market (Tables)

Revenue By Market (Tables)	9 Months Ended
	Sep. 30, 2015
Revenue By Market [Abstract]
Schedule Of Net Revenue By Market	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Medical $ $ $ $ Hearing Health Professional Audio Communications Total Revenue $ $ $ $

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015
Restructuring Charges [Abstract]
Incurred restructuring charges	$ 83
Expected amount of restructuring charges to be incurred		$ 0

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	Jan. 27, 2014	Sep. 30, 2014
Discontinued Operations [Abstract]
Proceeds from sale of business	$ 500	$ 500
Loss on sale of discontinued operations, net of income taxes	$ (120)	$ (120)

Discontinued Operations (Schedu

Discontinued Operations (Schedule Of Loss On Sale Of Discontinued Operations) (Details) - USD ($) $ in Thousands	Jan. 27, 2014	Sep. 30, 2014
Discontinued Operations [Abstract]
Accounts receivable, net	$ 384
Inventory, net	128
Property, plant and equipment, net	127
Other assets	1
Accounts payable	(69)
Net assets sold	571
Cash proceeds received from Sierra Peaks	500	$ 500
Net assets sold	(571)
Transaction costs	(49)
Loss on sale of discontinued operations, net of income taxes	$ (120)	$ (120)

Discontinued Operations (Summar

Discontinued Operations (Summary Of Results Of Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Discontinued Operations [Abstract]
Sales, net				$ 207
Operating costs and expenses				(357)
Operating loss				$ (150)
Other income, net
Net loss from discontinued operations				$ (150)

Geographic Information (Narrati

Geographic Information (Narrative) (Details) - customer	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Net Sales [Member] | One Customer [Member]
Revenue, Major Customer [Line Items]
Number of customers	1			1
Percentage of sales and/or receivables	46.00%	36.00%	42.00%	38.00%
Accounts Receivable [Member] | Two Customers [Member]
Revenue, Major Customer [Line Items]
Number of customers			2		2
Percentage of sales and/or receivables			34.00%		27.00%

Geographic Information (Geograp

Geographic Information (Geographical Distribution Of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 6,027	$ 4,245
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	5,352	3,307
Other - Primarily Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 675	$ 938

Geographic Information (Geogr35

Geographic Information (Geographical Distribution Of Net Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 17,341	$ 17,005	$ 51,063	$ 51,822
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	13,165	12,413	37,565	38,253
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,495	1,374	4,903	5,197
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	2,498	2,747	7,727	7,088
All Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 183	$ 471	$ 868	$ 1,284

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Raw materials	$ 7,687	$ 5,887
Work-in process	2,817	2,020
Finished products and components	2,633	2,076
Total	13,137	9,983
Domestic [Member]
Inventory [Line Items]
Raw materials	5,232	3,993
Work-in process	2,088	1,300
Finished products and components	2,369	1,838
Total	9,689	7,131
Foreign [Member]
Inventory [Line Items]
Raw materials	2,455	1,894
Work-in process	729	720
Finished products and components	264	238
Total	$ 3,448	$ 2,852

Short And Long-Term Debt (Narra

Short And Long-Term Debt (Narrative) (Details) - USD ($)	1 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Feb. 28, 2015	Dec. 31, 2014
Federal Funds Rate [Member]
Short And Long-Term Debt Instrument [Line Items]
Basis spread on variable rate of debt instruments		0.50%
Domestic Term-Loan [Member]
Short And Long-Term Debt Instrument [Line Items]
Loan amount		$ 5,000,000	$ 1,750,000
Quarterly installments		$ 250,000
Percentage of proceeds from certain asset sales required to pay down term loan		100.00%
Seventh Amendment To The Loan And Security Agreement [Member]
Short And Long-Term Debt Instrument [Line Items]
Increase in the annual capital expenditure limit	$ 4,500,000
Seventh Amendment To The Loan And Security Agreement [Member] | Domestic Term-Loan [Member]
Short And Long-Term Debt Instrument [Line Items]
Loan amount	5,000,000
Additional term loan facility borrowed	3,250,000
Debt instrument maturity date		Feb. 28, 2019
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short And Long-Term Debt Instrument [Line Items]
Basis spread on variable rate of debt instruments		2.50%
Minimum [Member] | Federal Funds Rate [Member]
Short And Long-Term Debt Instrument [Line Items]
Basis spread on variable rate of debt instruments		0.00%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short And Long-Term Debt Instrument [Line Items]
Basis spread on variable rate of debt instruments		4.00%
Maximum [Member] | Federal Funds Rate [Member]
Short And Long-Term Debt Instrument [Line Items]
Basis spread on variable rate of debt instruments		1.25%
Maximum [Member] | Seventh Amendment To The Loan And Security Agreement [Member]
Short And Long-Term Debt Instrument [Line Items]
Investment spending prior to requiring bank approval	$ 4,000,000
Revolving Credit Facility [Member]
Short And Long-Term Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 8,000,000
Credit facility, non-use fee percentage		0.25%
Weighted average interest rate of debt instruments		4.03%		4.51%
Credit facility, outstanding balance		$ 1,611,000		$ 3,843,000
Credit facility, available borrowing capacity		6,389,000		$ 3,456,000
Letters Of Credit [Member]
Short And Long-Term Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 200,000
International Credit Facility [Member]
Short And Long-Term Debt Instrument [Line Items]
Weighted average interest rate of debt instruments		3.44%		4.50%
Credit facility, outstanding balance		$ 939,000		$ 920,000
Credit facility, available borrowing capacity		$ 791,000		$ 956,000
Minimum interest rate of debt instruments		0.75%
Maximum interest rate of debt instruments		2.50%

Short And Long-Term Debt (Summa

Short And Long-Term Debt (Summary Of Short And Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total Debt	$ 7,050	$ 6,513
Less: Current maturities	(1,929)	(1,886)
Total Long-Term Debt	5,121	4,627
Domestic Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total Debt	1,611	3,843
Foreign Overdraft And Letter Of Credit Facility [Member]
Debt Instrument [Line Items]
Total Debt	939	920
Domestic Term-Loan [Member]
Debt Instrument [Line Items]
Total Debt	$ 4,500	$ 1,750

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Abstract]
Income tax (benefit) expense	$ (125)	$ 68	$ 107	$ 151

Income Taxes (Income (Loss) Bef

Income Taxes (Income (Loss) Before Income Taxes By Jurisdiction) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Loss Carryforwards [Line Items]
Income from continuing operations before income taxes and discontinued operations	$ 503	$ 626	$ 1,525	$ 2,309
Federal [Member]
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes, United States	82	(6)	(198)	625
Singapore [Member]
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes, Foreign	267	417	1,211	1,175
Indonesia [Member]
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes, Foreign	18	17	57	53
Germany [Member]
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes, Foreign	$ 136	$ 198	$ 455	$ 456

Shareholders' Equity And Stoc41

Shareholders' Equity And Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of common stock for which awards can be granted	490		490		175
Vesting period of options under equity incentive plan			3 years
Weighted average fair value of options granted			$ 7.14	$ 3.17
Estimated forfeiture rate of stock options			5.00%
Weighted average remaining contractual life of options exercisable, years			5 years 4 months 28 days
Stock option expense	$ 131	$ 110	$ 445	$ 352
Unrecognized compensation costs related to non-vested awards	$ 849		$ 849
Unrecognized compensation costs related to non-vested awards, recognition period			2 years 18 days
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of common stock for which awards can be granted	500		500
Shares issued in lieu of cash for director fees under director program			0	0
Maximum amount of common stock participants may elect to purchase			$ 100
Window period			20 days
Shares purchased for award			0	0
2001 Stock Option Plan, 2006 Stock Option Plan And Non-Employee Directors' Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of common stock for which awards can be granted	1,283		1,283
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased for award	3	4	10	12
Maximum number of shares approved under purchase plan	100		100
Increase in maximum number of shares approved			100
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options			10 years

Shareholders' Equity And Stoc42

Shareholders' Equity And Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Shareholders' Equity and Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2014	1,313
Number of Shares, Options forfeited or cancelled
Number of Shares, Options expired
Number of Shares, Options granted	170
Number of Shares, Options exercised	(158)
Number of Shares, Outstanding at September 30, 2015	1,325
Number of Shares, Exercisable at September 30, 2015	977
Number of Shares, Available for future grant at December 31, 2014	175
Number of Shares, Available for future grant at September 30, 2015	490
Weighted-average Exercise Price, Outstanding at December 31, 2014 | $ / shares	$ 5.86
Weighted-average Exercise Price, Options forfeited or cancelled | $ / shares
Weighted-average Exercise Price, Options expired
Weighted-average Exercise Price, Options granted | $ / shares	$ 7.14
Weighted-average Exercise Price, Options exercised | $ / shares	3.12
Weighted-average Exercise Price, Outstanding at September 30, 2015 | $ / shares	6.36
Weighted-average Exercise Price, Exercisable at September 30, 2015 | $ / shares	$ 6.50
Aggregate Intrinsic Value, Outstanding at September 30, 2015 | $	$ 3,227
Aggregate Intrinsic Value, Exercisable at September 30, 2015 | $	$ 2,472

Income Per Share (Reconciliatio

Income Per Share (Reconciliation Between Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Per Share [Abstract]
Income before discontinued operations	$ 628	$ 558	$ 1,418	$ 2,158
Loss from discontinued operations, net of income taxes				(270)
Net income	$ 628	$ 558	$ 1,418	$ 1,888
Basic - weighted shares outstanding	5,943	5,820	5,873	5,777
Weighted shares assumed upon exercise of stock options	267	328	341	260
Diluted - weighted shares outstanding	6,210	6,148	6,214	6,037
Continuing operations	$ 0.11	$ 0.10	$ 0.24	$ 0.37
Discontinued operations				(0.05)
Net income per share:	0.11	0.10	0.24	0.33
Continuing operations	0.10	0.09	0.23	0.36
Discontinued operations				(0.04)
Net income per share	$ 0.10	$ 0.09	$ 0.23	$ 0.31

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Related-Party Transactions [Abstract]
Total base rent expense, real estate taxes and other charges	$ 121	$ 122	$ 365	$ 367
Legal services and costs	$ 26	$ 48	$ 145	$ 135

Revenue By Market (Schedule Of

Revenue By Market (Schedule Of Net Revenue By Market) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue, Major Customer [Line Items]
Total Revenue	$ 17,341	$ 17,005	$ 51,063	$ 51,822
Medical [Member]
Revenue, Major Customer [Line Items]
Total Revenue	11,122	8,664	30,018	27,377
Hearing Health [Member]
Revenue, Major Customer [Line Items]
Total Revenue	4,594	5,533	15,114	17,009
Professional Audio Communications [Member]
Revenue, Major Customer [Line Items]
Total Revenue	$ 1,625	$ 2,808	$ 5,931	$ 7,436