Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 22, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000912061 | ||
Entity Registrant Name | Natural Health Trends Corp. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-36849 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-2705336 | ||
Entity Address, Address Line One | Units 1205-07, 12F Mira Place Tower A 132 Nathan Road, Tsimshatsui | ||
Entity Address, City or Town | Kowloon | ||
Entity Address, Country | HK | ||
City Area Code | 852 | ||
Local Phone Number | 3107-0800 | ||
Title of 12(b) Security | Common Stock, par value $0.001 per share | ||
Trading Symbol | NHTC | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 39,932,227 | ||
Entity Common Stock, Shares Outstanding | 11,422,539 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 92,367 | $ 96,035 |
Inventories | 3,779 | 6,404 |
Other current assets | 3,595 | 5,936 |
Total current assets | 99,741 | 108,375 |
Property and equipment, net | 539 | 735 |
Operating lease right-of-use assets | 3,745 | 3,135 |
Restricted cash | 525 | 3,390 |
Deferred tax asset | 731 | 2,039 |
Other assets | 661 | 823 |
Total assets | 105,942 | 118,497 |
Current liabilities: | ||
Accounts payable | 580 | 680 |
Income taxes payable | 1,481 | 173 |
Accrued commissions | 3,496 | 2,931 |
Other accrued expenses | 1,922 | 2,387 |
Deferred revenue | 3,091 | 4,506 |
Amounts held in eWallets | 8,503 | 12,938 |
Operating lease liabilities | 1,163 | 1,655 |
Other current liabilities | 1,270 | 1,032 |
Total current liabilities | 21,506 | 26,302 |
Income taxes payable | 13,748 | 15,365 |
Deferred tax liability | 216 | 202 |
Operating lease liabilities | 2,775 | 1,564 |
Total liabilities | 38,245 | 43,433 |
Commitments and contingencies (Note 8) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 50,000,000 shares authorized; 12,979,414 shares issued at December 31, 2020 and 2019 | 13 | 13 |
Additional paid-in capital | 86,102 | 86,102 |
Retained earnings | 7,822 | 16,117 |
Accumulated other comprehensive loss | (336) | (1,264) |
Treasury stock, at cost; 1,556,875 shares at December 31, 2020 and 2019 | (25,904) | (25,904) |
Total stockholders’ equity | 67,697 | 75,064 |
Total liabilities and stockholders’ equity | $ 105,942 | $ 118,497 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 12,979,414 | 12,979,414 |
Treasury stock, shares (in shares) | 1,556,875 | 1,556,875 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net sales | $ 62,071 | $ 77,614 |
Cost of sales | 16,990 | 20,104 |
Gross profit | 45,081 | 57,510 |
Operating expenses: | ||
Commissions expense | 26,204 | 35,549 |
Selling, general and administrative expenses | 18,208 | 27,220 |
Goodwill impairment | 0 | 1,764 |
Total operating expenses | 44,412 | 64,533 |
Income (loss) from operations | 669 | (7,023) |
Other income, net | 821 | 1,426 |
Income (loss) before income taxes | 1,490 | (5,597) |
Income tax provision | 647 | 14 |
Net income (loss) | $ 843 | $ (5,611) |
Net income (loss) per common share: | ||
Basic (in dollars per share) | $ 0.08 | $ (0.52) |
Diluted (in dollars per share) | $ 0.07 | $ (0.52) |
Weighted-average number of common shares outstanding: | ||
Basic (in shares) | 10,630 | 10,871 |
Diluted (in shares) | 11,424 | 10,871 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income (loss) | $ 843 | $ (5,611) |
Other comprehensive income (loss), net of tax: | ||
Foreign currency translation adjustments | 920 | (28) |
Unrealized gains on available-for-sale securities | 8 | 14 |
Comprehensive income (loss) | $ 1,771 | $ (5,625) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
BALANCE (in shares) at Dec. 31, 2018 | 0 | 12,979,414 | (1,603,322) | ||||
Balance, December 31, 2019 at Dec. 31, 2018 | $ 0 | $ 13 | $ 86,415 | $ 44,431 | $ (1,250) | $ (39,748) | $ 89,861 |
Net income (loss) | $ 0 | $ 0 | 0 | (5,611) | 0 | $ 0 | (5,611) |
Repurchase of common stock (in shares) | 0 | 0 | (1,093,641) | ||||
Repurchase of common stock | $ 0 | $ 0 | 0 | 0 | 0 | $ (10,117) | (10,117) |
Common stock issued (in shares) | 0 | 0 | 1,140,088 | ||||
Common stock issued | $ 0 | $ 0 | (15,359) | 0 | $ 23,961 | 8,289 | |
Common stock issued | (313) | ||||||
Dividends declared | 0 | 0 | 0 | (7,344) | 0 | 0 | (7,344) |
Foreign currency translation adjustments | 0 | 0 | 0 | 0 | (28) | 0 | (28) |
Unrealized gains on available-for-sale securities | $ 0 | $ 0 | 0 | 0 | 14 | $ 0 | 14 |
BALANCE (in shares) at Dec. 31, 2019 | 0 | 12,979,414 | (1,556,875) | ||||
Balance, December 31, 2020 at Dec. 31, 2019 | $ 0 | $ 13 | 86,102 | 16,117 | (1,264) | $ (25,904) | 75,064 |
Net income (loss) | 0 | 0 | 0 | 843 | 0 | 0 | 843 |
Dividends declared | 0 | 0 | 0 | (9,138) | 0 | 0 | (9,138) |
Foreign currency translation adjustments | 0 | 0 | 0 | 0 | 920 | 0 | 920 |
Unrealized gains on available-for-sale securities | $ 0 | $ 0 | 0 | 0 | 8 | $ 0 | 8 |
BALANCE (in shares) at Dec. 31, 2020 | 0 | 12,979,414 | (1,556,875) | ||||
Balance, December 31, 2020 at Dec. 31, 2020 | $ 0 | $ 13 | $ 86,102 | $ 7,822 | $ (336) | $ (25,904) | $ 67,697 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Dividends declared, per share (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.64 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 843 | $ (5,611) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 410 | 387 |
Noncash lease expense | 1,532 | 1,760 |
Deferred income taxes | 1,339 | (820) |
Goodwill, Impairment Loss | 0 | 1,764 |
Changes in assets and liabilities: | ||
Inventories | 2,700 | 5,820 |
Other current assets | 2,322 | (554) |
Other assets | 181 | 0 |
Accounts payable | (102) | (953) |
Income taxes payable | (311) | (1,731) |
Accrued commissions | 566 | (9,598) |
Other accrued expenses | (471) | (2,797) |
Deferred revenue | (1,433) | (2,315) |
Amounts held in eWallets | (4,491) | (1,742) |
Operating lease liabilities | (1,427) | (1,807) |
Other current liabilities | 227 | (108) |
Long-term incentive | 0 | (333) |
Net cash provided by (used in) operating activities | 1,885 | (18,638) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of property and equipment | (211) | (189) |
Net cash used in investing activities | (211) | (189) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repurchase of common stock | 0 | (10,117) |
Dividends paid | (9,138) | (7,344) |
Net cash used in financing activities | (9,138) | (17,461) |
Effect of exchange rates on cash, cash equivalents and restricted cash | 931 | 62 |
Net decrease in cash, cash equivalents and restricted cash | (6,533) | (36,226) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period | 99,425 | 135,651 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period | 92,892 | 99,425 |
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION: | ||
Cash paid (refunded) for income taxes, net | (2,097) | 1,985 |
Issuance of treasury stock for employee awards, net | 0 | 8,289 |
Right-of-use assets obtained in exchange for operating lease liabilities | $ 2,747 | $ 5,082 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Nature of Operations Natural Health Trends Corp., a Delaware corporation (whether or not The Company’s wholly-owned subsidiaries have an active physical presence in the following markets: the Americas, which consists of the United States, Canada, Cayman Islands, Mexico and Peru; Greater China, which consists of Hong Kong, Taiwan and China; Southeast Asia, which consists of Singapore, Malaysia, Thailand and Vietnam; South Korea; Japan; India; and Europe. The Company also operates in Russia and Kazakhstan through an engagement with a local service provider. Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. Reclassification Certain income taxes payable balances have been reclassified in the prior year consolidated financial statements to conform to current year presentation. No Use of Estimates The preparation of financial statements in accordance 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 the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates associated with revenue recognition, as well as those used in the determination of liabilities related to sales returns, commissions and income taxes. Various assumptions and other factors prompt the determination of these significant estimates. The process of determining significant estimates is fact specific and takes into account historical experience and current and expected economic conditions. The actual results may Cash and Cash Equivalents Cash and cash equivalents include the Company’s investments in municipal and corporate debt securities, money market funds, and time deposits. The Company considers all highly liquid investments with original maturities of three 320, Investments - Debt and Equity Securities December 31, 2020 The Company includes credit card receivables due from certain of its credit card processors in its cash and cash equivalents as the cash proceeds are received within two five The Company maintains certain cash balances at several institutions located in the United States, Hong Kong and elsewhere which at times may not not Restricted Cash In June 2015, December 31, 2019 March 2020 November 2019, December 31, 2020 2019, The Company periodically maintains a cash reserve with certain credit card processing companies to provide for potential uncollectible amounts and chargebacks. Those cash reserves held by credit card processing companies located in South Korea are reflected in noncurrent assets since they require the Company to provide 100% collateral before processing transactions, which must be maintained indefinitely. Inventories Inventories are stated at the lower of cost or net realizable value, using the first first Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three five five seven 2020 2019 The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not Goodwill During the fourth 2019, 2017 04, Intangibles - Goodwill and Other (Topic 350 2 December 2019. Income Taxes The Company recognizes income taxes under the liability method of accounting for income taxes. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the temporary differences are expected to be recovered or settled. Deferred tax expense or benefit is a result of changes in deferred tax assets and liabilities. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be ultimately realized based on the more likely than not not no fifty not Amounts Held in eWallets The Company requires commission payments of certain members in Hong Kong and other markets to be first Foreign Currency The functional currency of the Company’s international subsidiaries is generally their local currency. Local currency assets and liabilities are translated at the rates of exchange on the balance sheet date, and local currency revenues and expenses are translated at average rates of exchange during the period. Equity accounts are translated at historical rates. The resulting translation adjustments are recorded directly into stockholders' equity. Aggregate transaction gains or losses, including gains or losses related to foreign-denominated cash and cash equivalents and the re-measurement of certain inter-company balances, are included in the statement of operations as other income and expense. Loss on foreign exchange totaling $335,000 and $355,000 was recognized during 2020 2019 Commissions Expense Independent members earn commissions based on total personal and group bonus volume points per weekly sales period. Each of the Company’s products are designated a specified number of bonus volume points, which is essentially a percentage of the product’s wholesale price. The Company accrues commissions when earned and as the related revenue is recognized and pays commissions on product sales generally two In some markets, the Company also pays certain bonuses on purchases by up to three seven may may From time to time the Company makes modifications and enhancements to the Company’s compensation plan to help motivate members, which can have an impact on member commissions. The Company also enters into performance-based agreements for business or market development, which may Net Income (Loss) Per Common Share Diluted net income per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. The dilutive effect of non-vested restricted stock is reflected by application of the treasury stock method. Under the treasury stock method, the amount of compensation cost for future service that the Company has not Certain Risks and Concentrations In late 2019 2020 19 first March 11, 2020 19 2020 19, 2020, second 19 2020, may third third may 19 In contrast to the Company’s business in other parts of the world, the Company’s China subsidiary has not August 2015, 2019 November 2019, third may The Company continually evaluates its business in China and Hong Kong for compliance with applicable laws and regulations, including seeking the input of outside professionals and certain Chinese authorities. This process can and has resulted in the identification of certain matters of potential noncompliance. The Company works on a continuing basis to satisfactorily address such matters, however there can be no Although the Company attempts to work closely with both national and local Chinese governmental agencies in conducting its business, the Company’s efforts to comply with national and local laws may may not No 10% no 10% no 10% The Company’s Premium Noni Juice, Enhanced Essential Probiotics Triotein™ 10% Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash and accounts payable, approximate fair value because of their short maturities. The carrying amount of the noncurrent restricted cash approximates fair value since, absent the restrictions, the underlying assets would be included in cash and cash equivalents. Accounting standards permit companies, at their option, to choose to measure many financial instruments and certain other items at fair value. The Company has elected to not Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 326 November 2019, 2019 11, Codification Improvements to Topic 326, 2019 11 326. 2016 13 2019 11 December 15, 2022, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019, not In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020, first 2020. not Other recently issued accounting pronouncements did not not |
Note 2 - Revenue
Note 2 - Revenue | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. Revenue Recognition All revenue is recognized when the performance obligations under a contract, including any product vouchers sold on a stand-alone basis in Hong Kong, are satisfied. Product sales are recognized when the products are shipped and title passes to independent members. Product sales to members are made pursuant to a member agreement that provides for transfer of both title and risk of loss upon the Company’s delivery to the carrier that completes delivery to the members, which is commonly referred to as “F.O.B. Shipping Point.” The Company’s sales arrangements do not Actual product returns are recorded as a reduction to net sales. The Company estimates and accrues a reserve for product returns based on its return policies and historical experience. The reserve is based upon the return policy of each country, which varies from 14 one 2020 2019 No 4 The Company has elected to account for shipping and handling activities performed after title has passed to members as a fulfillment cost, and accrues for the costs of shipping and handling if revenue is recognized before the contractually obligated shipping and handling activities occurs. Shipping charges billed to members are included in net sales. Costs associated with shipments are included in cost of sales. Event and training revenue is deferred and recognized as the event or training occurs. Costs of events and member training are included within selling, general and administrative expenses. Various taxes on the sale of products to members are collected by the Company as an agent and remitted to the respective taxing authority. These taxes are presented on a net basis and recorded as a liability until remitted to the respective taxing authority. Deferred Revenue The Company primarily receives payment by credit card at the time members place orders. Amounts received for unshipped product orders and unredeemed product vouchers are considered a contract liability and are recorded as deferred revenue. The decrease in deferred revenue for the year ended December 31, 2020 4 Disaggregation of Revenue The Company sells products to a member network that operates in a seamless manner from market to market, except for the Chinese market where it sells to some consumers through an e-commerce retail platform and the Russia and Kazakhstan market where the Company operates through the engagement of a third 12 Arrangements with Multiple Performance Obligations The Company’s contracts with customers may Practical Expedients The Company generally expenses sales commissions when incurred because the amortization period would be one The Company does not one |
Note 3 - Net Income (Loss) Per
Note 3 - Net Income (Loss) Per Common Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. The following table illustrates the computation of basic and diluted net income (loss) per common share for the periods indicated (in thousands, except per share data): Year Ended December 31, 2020 2019 Income Shares Per Share Loss Shares Per Share Basic net income (loss) per common share: Net income (loss) available to common stockholders $ 843 10,630 $ 0.08 $ (5,611 ) 10,871 $ (0.52 ) Effect of dilutive securities: Non-vested restricted stock — 794 — — Diluted net income (loss) per common share: Net income (loss) available to common stockholders plus assumed conversions $ 843 11,424 $ 0.07 $ (5,611 ) 10,871 $ (0.52 ) In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. As such, non-vested restricted stock totaling 459,654 shares were not December 31, 2019. |
Note 4 - Balance Sheet Componen
Note 4 - Balance Sheet Components | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 4. The components of certain balance sheet amounts are as follows (in thousands): December 31, 2020 2019 Cash and cash equivalents: Cash $ 23,977 $ 13,720 Cash equivalents 68,390 82,315 92,367 96,035 Restricted cash 525 3,390 $ 92,892 $ 99,425 Inventories: Finished goods $ 3,071 $ 6,142 Raw materials 1,047 1,249 Reserve for obsolescence (339 ) (987 ) $ 3,779 $ 6,404 Property and equipment: Office equipment $ 449 $ 578 Office software 1,001 1,037 Machinery 30 28 Furniture and fixtures 254 327 Leasehold improvements 839 1,001 Construction in progress 41 — Property and equipment, at cost 2,614 2,971 Accumulated depreciation and amortization (2,075 ) (2,236 ) $ 539 $ 735 Other accrued expenses: Sales returns $ 189 $ 373 Employee-related expense 1,149 1,258 Warehousing, inventory-related and other 584 756 $ 1,922 $ 2,387 Deferred revenue: Unshipped product and unredeemed product vouchers $ 1,005 $ 2,390 Auto ship advances 1,977 1,985 Other 109 131 $ 3,091 $ 4,506 As of December 31, 2020 |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Investments by category included in cash equivalents at the end of each period were as follows (in thousands): December 31, 2020 December 31, 2019 Fair Value Level 1 Adjusted Cost Gross Unrealized Losses Fair Value Adjusted Cost Gross Unrealized Losses Fair Value Money market funds Level 1 $ 21,042 $ — $ 21,042 $ 11,659 $ — $ 11,659 Time deposits Level 2 5,458 — 5,458 13,544 — 13,544 Municipal debt securities Level 2 30,280 (5 ) 30,275 347 — 347 Corporate debt securities Level 2 11,621 (6 ) 11,615 56,784 (19 ) 56,765 Total investments $ 68,401 $ (11 ) $ 68,390 $ 82,334 $ (19 ) $ 82,315 1 FASB Topic 820, Level 1: Level 2: Level 3: not |
Note 6 - Leases
Note 6 - Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. The Company leases 7,300 square feet of office space in Hong Kong and 4,900 square feet of office space in Rolling Hills Estates, California for its corporate staff. In June 2020, five September 2030. July 1, 2020, June 2023 . November 2025, February 2024, November 2022, The Company leases eight branch offices throughout China, and additional office space in Peru, Japan, Taiwan, South Korea, Singapore, Malaysia, Vietnam, Indonesia, Thailand, India, and the Cayman Islands. The Company also leases a factory in Zhongshan, China. The Company contracts with third None third not The components of lease cost were as follows (in thousands): Year Ended December 31, 2020 2019 Operating leases $ 1,716 $ 2,024 Short-term leases 299 284 Total lease cost $ 2,015 $ 2,308 Cash paid for amounts included in the measurement of operating leases liabilities was $1.6 million and $2.0 million for 2020 2019, The weighted-average remaining lease term and discount rate related to operating leases as of December 31, 2020 Weighted-average remaining lease term (in years) 5.5 Weighted-average discount rate 3.4 % As most of the Company’s leases do not The annual scheduled lease payments of our operating lease liabilities as of December 31, 2020 2021 $ 1,184 2022 1,081 2023 583 2024 261 2025 261 Thereafter 990 Total lease payments $ 4,360 Less: imputed interest (422 ) Present value of lease liabilities $ 3,938 For all asset classes, the Company elected not 12 not |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. The components of income (loss) before income taxes consist of the following (in thousands): Year Ended December 31, 2020 2019 Domestic $ (1,663 ) $ (4,917 ) Foreign 3,153 (680 ) Income (loss) before income taxes $ 1,490 $ (5,597 ) The components of the income tax provision consist of the following (in thousands): Year Ended December 31, 2020 2019 Current taxes: Federal $ (512 ) $ 399 State 1 33 Foreign 626 398 Total current taxes 115 830 Deferred taxes: Federal 346 (381 ) State 6 (47 ) Foreign 180 (388 ) Total deferred taxes 532 (816 ) Income tax provision $ 647 $ 14 A reconciliation of the reported income tax provision to the provision (benefit) that would result from applying the domestic federal statutory tax rate to pretax income (loss) is as follows (in thousands): Year Ended December 31, 2020 2019 Income tax at federal statutory rate $ 313 $ (1,175 ) Effect of permanent differences 121 260 Global Intangible Low-Taxed Income 555 364 Change in valuation allowance 51 106 Foreign rate differential 72 13 Foreign tax credits (98 ) 10 Stock-based compensation 164 98 Net operating loss carryback (512 ) — Goodwill impairment — 375 Other reconciling items (19 ) (37 ) Income tax provision $ 647 $ 14 Income (loss) before income taxes and the statutory tax rate for each country that materially contributed to the foreign rate differential presented above is as follows (in thousands): Year Ended December 31, Statutory Tax Rate 2020 2019 Cayman Islands — % $ 2,589 $ (2,746 ) Hong Kong 16.5 % 267 3,441 China 25.0 % 716 (1,644 ) Deferred income taxes consist of the following (in thousands): December 31, 2020 2019 Deferred tax assets: Net operating losses $ 628 $ 1,477 Stock-based compensation 510 925 Operating lease liabilities 460 335 Other 60 73 Total deferred tax assets 1,658 2,810 Valuation allowance (340 ) (289 ) Net deferred tax assets 1,318 2,521 Deferred tax liabilities: Operating lease assets (438 ) (313 ) Foreign deferreds (216 ) (202 ) Prepaids (113 ) (109 ) Other (36 ) (60 ) Total deferred tax liabilities (803 ) (684 ) Net deferred tax assets $ 515 $ 1,837 The effective income tax rate for the year ended December 31, 2020 March 27, 2020. 1986, not 2018, 2019 2020 five December 31, 2019 December 31, 2018 December 31, 2019. As of December 31, 2020 not not December 31, 2020 not As of December 31, 2020 no August 2020 December 31, 2019 December 31, 2016 . 2039. December 31, 2020 As a result of capital return activities, the Company determined that a portion of its current undistributed foreign earnings is no not December 31, 2020 not December 31, 2020 2017, no 50% December 31, 2020 The Company and its subsidiaries file tax returns in the United States, California, New Jersey and Texas and various foreign jurisdictions. During the fourth 2018, 2016 2017 2018 2019 2007 No no 2016. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. On January 8, 2019, two Kauffman v. Natural Health Trends Corp. No. 2:19 00163. May 3, 2019, June 3, 2019, January 17, 2020, February 14, 2020, April 9, 2020, The SEC is conducting a non-public investigation to determine whether there have been violations of the federal securities laws relating to the trading of the Company’s securities and/or its public disclosures. The Company has fully cooperated with the SEC and continues to do so. The amount of time needed to resolve this matter is uncertain, and the Company cannot predict the outcome or whether it will face additional governmental inquiries or other actions. The Company has employment agreements with certain members of its management team that can be terminated by either the employee or the Company upon four |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9. Authorized Shares The Company is authorized to issue two Dividends The Company declared and paid cash dividends of $0.20 per common share during each quarter of 2020, 2019 Declaration Date Per Common Share Amount Payment Date October 29, 2019 (special) $ 0.40 $ 4,608 November 29, 2019 January 27, 2019 (special) 0.08 912 March 15, 2019 January 27, 2019 0.16 1,824 March 15, 2019 $ 0.64 $ 7,344 Declaration and payment of any future dividends on shares of common stock will be at the sole discretion of the Company’s Board of Directors. Stock Repurchases On January 12, 2016, first July 28, 2015 10b 18 may one 10b5 1 not may On May 16, 2019, 2012 10 May 2019, May 31, 2019 On August 6, 2019, August September 2019, December 2019, As of December 31, 2020 $70.0 July 28, 2015 January 12, 2016 Restricted Stock At the Company’s annual meeting of stockholders held on April 7, 2016, 2016 “2016 2007 2016 may December 31, 2020 2016 On February 1, 2019, 2016 2018 three On August 9, 2019, 2014 December 31, 2018 2016 August 9, 2019, three December 31, 2018. The following table summarizes the Company’s restricted stock activity under the 2016 Shares Wtd. Avg. Price at Date of Issuance Nonvested at December 31, 2018 45,486 $ 21.61 Granted 1,140,088 7.27 Vested (227,892 ) 9.84 Nonvested at December 31, 2019 957,682 7.34 Vested (391,410 ) 7.53 Nonvested at December 31, 2020 566,272 7.21 Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss by component for 2020 Foreign Currency Translation Adjustments Unrealized Gains (Losses) on Available-For-Sale Investments Total Balance, December 31, 2019 $ (1,245 ) $ (19 ) $ (1,264 ) Other comprehensive income 920 8 928 Balance, December 31, 2020 $ (325 ) $ (11 ) $ (336 ) |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 10. The Company is a party to a Royalty Agreement and License with Broady Health Sciences, L.L.C., a Texas limited liability company, (“BHS”) regarding the manufacture and sale of a product called ReStor 2020 2019 not may no March 20, 2020 five March 31, 2025, one The Company procured in China and arranged for shipment to The Aberdeen Group, LLC (“Aberdeen”) one order of apparel products in the amount of $7,100 during the first 2019 . third 402 2002 . not 402 . On May 17, 2019, 2012 10b5 1 1934, May 16, 2019. May 31, 2019, 9. |
Note 11 - Employee Benefit Plan
Note 11 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 11. The Company has a 401 first 2020 2019 No 2020 2019 |
Note 12 - Segment Information
Note 12 - Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 12. The Company sells products to a member network that operates in a seamless manner from market to market, except for the China market where it sells to some consumers through an e-commerce retail platform, and the Russia and Kazakhstan market where the Company’s engagement of a third single The Company reviews its net sales and operating income (loss) by operating segment, and reviews its assets and capital expenditures on a consolidated basis and not not The Company’s operating information by geographic area are as follows (in thousands): Year Ended December 31, 2020 2019 Net sales: Primary Reporting Segment $ 58,243 $ 73,693 China 2,940 2,941 Russia and Kazakhstan 888 980 Total net sales $ 62,071 $ 77,614 Income (loss) from operations: Primary Reporting Segment $ 9,277 $ 9,339 China 330 (1,719 ) Russia and Kazakhstan (96 ) (115 ) Total income (loss) from operations for reportable segments 9,511 7,505 Unallocated corporate expenses (8,842 ) (14,528 ) Other income, net 821 1,426 Income (loss) before income taxes $ 1,490 $ (5,597 ) The Company’s net sales by geographic area are as follows (in thousands): Year Ended December 31, 2020 2019 Net sales from external customers: United States $ 1,573 $ 2,003 Canada 765 1,048 Peru 1,453 2,380 Hong Kong 1 49,169 62,724 China 2,940 2,941 Taiwan 3,034 3,126 Russia and Kazakhstan 888 980 Europe 1,050 1,370 Other foreign countries 1,199 1,042 Total net sales $ 62,071 $ 77,614 1 Substantially all of our Hong Kong revenues are derived from the sale of products that are delivered to members in China. See “Item 1A. The Company’s net sales by product and service are as follows (in thousands): Year Ended December 31, 2020 2019 Net sales by product and service: Product sales $ 55,840 $ 73,048 Administrative fees, freight and other 6,991 6,106 Less: sales returns (760 ) (1,540 ) Total net sales $ 62,071 $ 77,614 During June 2020, 2020. The Company’s long-lived assets by geographic area are as follows (in thousands): December 31, 2020 2019 Long-lived assets: United States $ 227 $ 379 Hong Kong 146 135 China 47 57 Other foreign countries 119 164 Total long-lived assets $ 539 $ 735 |
Note 13 - Subsequent Event
Note 13 - Subsequent Event | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. On February 8, 2021, March 5, 2021 February 23, 2021. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Certain income taxes payable balances have been reclassified in the prior year consolidated financial statements to conform to current year presentation. No |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance 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 the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates associated with revenue recognition, as well as those used in the determination of liabilities related to sales returns, commissions and income taxes. Various assumptions and other factors prompt the determination of these significant estimates. The process of determining significant estimates is fact specific and takes into account historical experience and current and expected economic conditions. The actual results may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include the Company’s investments in municipal and corporate debt securities, money market funds, and time deposits. The Company considers all highly liquid investments with original maturities of three 320, Investments - Debt and Equity Securities December 31, 2020 The Company includes credit card receivables due from certain of its credit card processors in its cash and cash equivalents as the cash proceeds are received within two five The Company maintains certain cash balances at several institutions located in the United States, Hong Kong and elsewhere which at times may not not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash In June 2015, December 31, 2019 March 2020 November 2019, December 31, 2020 2019, The Company periodically maintains a cash reserve with certain credit card processing companies to provide for potential uncollectible amounts and chargebacks. Those cash reserves held by credit card processing companies located in South Korea are reflected in noncurrent assets since they require the Company to provide 100% collateral before processing transactions, which must be maintained indefinitely. |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value, using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three five five seven 2020 2019 The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill During the fourth 2019, 2017 04, Intangibles - Goodwill and Other (Topic 350 2 December 2019. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes income taxes under the liability method of accounting for income taxes. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the temporary differences are expected to be recovered or settled. Deferred tax expense or benefit is a result of changes in deferred tax assets and liabilities. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be ultimately realized based on the more likely than not not no fifty not |
Amounts Held in Distributor EWallets [Policy Text Block] | Amounts Held in eWallets The Company requires commission payments of certain members in Hong Kong and other markets to be first |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The functional currency of the Company’s international subsidiaries is generally their local currency. Local currency assets and liabilities are translated at the rates of exchange on the balance sheet date, and local currency revenues and expenses are translated at average rates of exchange during the period. Equity accounts are translated at historical rates. The resulting translation adjustments are recorded directly into stockholders' equity. Aggregate transaction gains or losses, including gains or losses related to foreign-denominated cash and cash equivalents and the re-measurement of certain inter-company balances, are included in the statement of operations as other income and expense. Loss on foreign exchange totaling $335,000 and $355,000 was recognized during 2020 2019 |
Commissions, Policy [Policy Text Block] | Commissions Expense Independent members earn commissions based on total personal and group bonus volume points per weekly sales period. Each of the Company’s products are designated a specified number of bonus volume points, which is essentially a percentage of the product’s wholesale price. The Company accrues commissions when earned and as the related revenue is recognized and pays commissions on product sales generally two In some markets, the Company also pays certain bonuses on purchases by up to three seven may may From time to time the Company makes modifications and enhancements to the Company’s compensation plan to help motivate members, which can have an impact on member commissions. The Company also enters into performance-based agreements for business or market development, which may |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) Per Common Share Diluted net income per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. The dilutive effect of non-vested restricted stock is reflected by application of the treasury stock method. Under the treasury stock method, the amount of compensation cost for future service that the Company has not |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Certain Risks and Concentrations In late 2019 2020 19 first March 11, 2020 19 2020 19, 2020, second 19 2020, may third third may 19 In contrast to the Company’s business in other parts of the world, the Company’s China subsidiary has not August 2015, 2019 November 2019, third may The Company continually evaluates its business in China and Hong Kong for compliance with applicable laws and regulations, including seeking the input of outside professionals and certain Chinese authorities. This process can and has resulted in the identification of certain matters of potential noncompliance. The Company works on a continuing basis to satisfactorily address such matters, however there can be no Although the Company attempts to work closely with both national and local Chinese governmental agencies in conducting its business, the Company’s efforts to comply with national and local laws may may not No 10% no 10% no 10% The Company’s Premium Noni Juice, Enhanced Essential Probiotics Triotein™ 10% |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash and accounts payable, approximate fair value because of their short maturities. The carrying amount of the noncurrent restricted cash approximates fair value since, absent the restrictions, the underlying assets would be included in cash and cash equivalents. Accounting standards permit companies, at their option, to choose to measure many financial instruments and certain other items at fair value. The Company has elected to not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 326 November 2019, 2019 11, Codification Improvements to Topic 326, 2019 11 326. 2016 13 2019 11 December 15, 2022, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019, not In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020, first 2020. not Other recently issued accounting pronouncements did not not |
Note 3 - Net Income (Loss) Pe_2
Note 3 - Net Income (Loss) Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2020 2019 Income Shares Per Share Loss Shares Per Share Basic net income (loss) per common share: Net income (loss) available to common stockholders $ 843 10,630 $ 0.08 $ (5,611 ) 10,871 $ (0.52 ) Effect of dilutive securities: Non-vested restricted stock — 794 — — Diluted net income (loss) per common share: Net income (loss) available to common stockholders plus assumed conversions $ 843 11,424 $ 0.07 $ (5,611 ) 10,871 $ (0.52 ) |
Note 4 - Balance Sheet Compon_2
Note 4 - Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Additional Balance Sheet Components [Table Text Block] | December 31, 2020 2019 Cash and cash equivalents: Cash $ 23,977 $ 13,720 Cash equivalents 68,390 82,315 92,367 96,035 Restricted cash 525 3,390 $ 92,892 $ 99,425 Inventories: Finished goods $ 3,071 $ 6,142 Raw materials 1,047 1,249 Reserve for obsolescence (339 ) (987 ) $ 3,779 $ 6,404 Property and equipment: Office equipment $ 449 $ 578 Office software 1,001 1,037 Machinery 30 28 Furniture and fixtures 254 327 Leasehold improvements 839 1,001 Construction in progress 41 — Property and equipment, at cost 2,614 2,971 Accumulated depreciation and amortization (2,075 ) (2,236 ) $ 539 $ 735 Other accrued expenses: Sales returns $ 189 $ 373 Employee-related expense 1,149 1,258 Warehousing, inventory-related and other 584 756 $ 1,922 $ 2,387 Deferred revenue: Unshipped product and unredeemed product vouchers $ 1,005 $ 2,390 Auto ship advances 1,977 1,985 Other 109 131 $ 3,091 $ 4,506 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 2020 December 31, 2019 Fair Value Level 1 Adjusted Cost Gross Unrealized Losses Fair Value Adjusted Cost Gross Unrealized Losses Fair Value Money market funds Level 1 $ 21,042 $ — $ 21,042 $ 11,659 $ — $ 11,659 Time deposits Level 2 5,458 — 5,458 13,544 — 13,544 Municipal debt securities Level 2 30,280 (5 ) 30,275 347 — 347 Corporate debt securities Level 2 11,621 (6 ) 11,615 56,784 (19 ) 56,765 Total investments $ 68,401 $ (11 ) $ 68,390 $ 82,334 $ (19 ) $ 82,315 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, 2020 2019 Operating leases $ 1,716 $ 2,024 Short-term leases 299 284 Total lease cost $ 2,015 $ 2,308 Weighted-average remaining lease term (in years) 5.5 Weighted-average discount rate 3.4 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 $ 1,184 2022 1,081 2023 583 2024 261 2025 261 Thereafter 990 Total lease payments $ 4,360 Less: imputed interest (422 ) Present value of lease liabilities $ 3,938 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2020 2019 Domestic $ (1,663 ) $ (4,917 ) Foreign 3,153 (680 ) Income (loss) before income taxes $ 1,490 $ (5,597 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2020 2019 Current taxes: Federal $ (512 ) $ 399 State 1 33 Foreign 626 398 Total current taxes 115 830 Deferred taxes: Federal 346 (381 ) State 6 (47 ) Foreign 180 (388 ) Total deferred taxes 532 (816 ) Income tax provision $ 647 $ 14 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2020 2019 Income tax at federal statutory rate $ 313 $ (1,175 ) Effect of permanent differences 121 260 Global Intangible Low-Taxed Income 555 364 Change in valuation allowance 51 106 Foreign rate differential 72 13 Foreign tax credits (98 ) 10 Stock-based compensation 164 98 Net operating loss carryback (512 ) — Goodwill impairment — 375 Other reconciling items (19 ) (37 ) Income tax provision $ 647 $ 14 |
Income Tax Foreign Rate Differential [Table Text Block] | Year Ended December 31, Statutory Tax Rate 2020 2019 Cayman Islands — % $ 2,589 $ (2,746 ) Hong Kong 16.5 % 267 3,441 China 25.0 % 716 (1,644 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2020 2019 Deferred tax assets: Net operating losses $ 628 $ 1,477 Stock-based compensation 510 925 Operating lease liabilities 460 335 Other 60 73 Total deferred tax assets 1,658 2,810 Valuation allowance (340 ) (289 ) Net deferred tax assets 1,318 2,521 Deferred tax liabilities: Operating lease assets (438 ) (313 ) Foreign deferreds (216 ) (202 ) Prepaids (113 ) (109 ) Other (36 ) (60 ) Total deferred tax liabilities (803 ) (684 ) Net deferred tax assets $ 515 $ 1,837 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Dividends Payable [Table Text Block] | Declaration Date Per Common Share Amount Payment Date October 29, 2019 (special) $ 0.40 $ 4,608 November 29, 2019 January 27, 2019 (special) 0.08 912 March 15, 2019 January 27, 2019 0.16 1,824 March 15, 2019 $ 0.64 $ 7,344 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Shares Wtd. Avg. Price at Date of Issuance Nonvested at December 31, 2018 45,486 $ 21.61 Granted 1,140,088 7.27 Vested (227,892 ) 9.84 Nonvested at December 31, 2019 957,682 7.34 Vested (391,410 ) 7.53 Nonvested at December 31, 2020 566,272 7.21 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign Currency Translation Adjustments Unrealized Gains (Losses) on Available-For-Sale Investments Total Balance, December 31, 2019 $ (1,245 ) $ (19 ) $ (1,264 ) Other comprehensive income 920 8 928 Balance, December 31, 2020 $ (325 ) $ (11 ) $ (336 ) |
Note 12 - Segment Information (
Note 12 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Year Ended December 31, 2020 2019 Net sales: Primary Reporting Segment $ 58,243 $ 73,693 China 2,940 2,941 Russia and Kazakhstan 888 980 Total net sales $ 62,071 $ 77,614 Income (loss) from operations: Primary Reporting Segment $ 9,277 $ 9,339 China 330 (1,719 ) Russia and Kazakhstan (96 ) (115 ) Total income (loss) from operations for reportable segments 9,511 7,505 Unallocated corporate expenses (8,842 ) (14,528 ) Other income, net 821 1,426 Income (loss) before income taxes $ 1,490 $ (5,597 ) |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Year Ended December 31, 2020 2019 Net sales from external customers: United States $ 1,573 $ 2,003 Canada 765 1,048 Peru 1,453 2,380 Hong Kong 1 49,169 62,724 China 2,940 2,941 Taiwan 3,034 3,126 Russia and Kazakhstan 888 980 Europe 1,050 1,370 Other foreign countries 1,199 1,042 Total net sales $ 62,071 $ 77,614 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2020 2019 Net sales by product and service: Product sales $ 55,840 $ 73,048 Administrative fees, freight and other 6,991 6,106 Less: sales returns (760 ) (1,540 ) Total net sales $ 62,071 $ 77,614 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, 2020 2019 Long-lived assets: United States $ 227 $ 379 Hong Kong 146 135 China 47 57 Other foreign countries 119 164 Total long-lived assets $ 539 $ 735 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) ₫ in Millions, ¥ in Millions | Mar. 11, 2020 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Nov. 30, 2019VND (₫) |
Goodwill, Impairment Loss | $ 0 | $ 1,764,000 | |||
Foreign Currency Transaction Gain (Loss), Unrealized | (335,000) | (355,000) | |||
Selling, General and Administrative Expenses [Member] | |||||
Depreciation, Depletion and Amortization, Nonproduction, Total | 410,000 | 387,000 | |||
CHINA | |||||
Restricted Cash and Cash Equivalents, Total | 2,900,000 | ¥ 20 | |||
VIET NAM | |||||
Restricted Cash and Cash Equivalents, Total | $ 433,000 | $ 432,000 | ₫ 10 | ||
KOREA, DEMOCRATIC PEOPLE'S REPUBLIC OF | |||||
Restricted Cash, Collateral Requirement Percentage | 100.00% | ||||
HONG KONG | Revenue from Contract with Customer Benchmark [Member] | Geographic Concentration Risk [Member] | |||||
Concentration Risk, Percentage | 79.00% | ||||
Minimum [Member] | |||||
Cash and Cash Equivalents, Period to Receive Cash Proceeds From Credit Card Processors (Day) | 2 days | ||||
Minimum [Member] | Office Equipment, Office Software and Capitalized Internal-use Software Development [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||||
Minimum [Member] | Furniture and Fixtures [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||||
Maximum [Member] | |||||
Cash and Cash Equivalents, Period to Receive Cash Proceeds From Credit Card Processors (Day) | 5 days | ||||
Maximum [Member] | Office Equipment, Office Software and Capitalized Internal-use Software Development [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||||
Maximum [Member] | Furniture and Fixtures [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note 2 - Revenue (Details Textu
Note 2 - Revenue (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customers, Sales Returns, Percent | 1.00% | 2.00% |
Contract with Customer, Liability, Revenue Recognized | $ 1.4 | |
Minimum [Member] | ||
Revenue from Contract with Customer, Sales Returns Policy Term (Day) | 14 days | |
Revenue from Contract with Customers, Historical Sales Returns, Percent | 1.00% | |
Maximum [Member] | ||
Revenue from Contract with Customer, Sales Returns Policy Term (Day) | 1 year | |
Revenue from Contract with Customers, Historical Sales Returns, Percent | 10.00% |
Note 3 - Net Income (Loss) Pe_3
Note 3 - Net Income (Loss) Per Common Share (Details Textual) | 12 Months Ended |
Dec. 31, 2019shares | |
Restricted Stock [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 459,654 |
Note 3 - Net Income (Loss) Pe_4
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income (loss) available to common stockholders | $ 843 | $ (5,611) |
Basic (in shares) | 10,630 | 10,871 |
Basic (in dollars per share) | $ 0.08 | $ (0.52) |
Non-vested restricted stock | $ 0 | $ 0 |
Non-vested restricted stock (in shares) | 794 | 0 |
Net income (loss) available to common stockholders plus assumed conversions | $ 843 | $ (5,611) |
Diluted (in shares) | 11,424 | 10,871 |
Diluted (in dollars per share) | $ 0.07 | $ (0.52) |
Note 4 - Balance Sheet Compon_3
Note 4 - Balance Sheet Components (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 92,367 | $ 96,035 |
CHINA | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 12,500 |
Note 4 - Balance Sheet Compon_4
Note 4 - Balance Sheet Components - Summary of Balance Sheet Amounts (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents: | |||
Cash | $ 23,977 | $ 13,720 | |
Cash equivalents | 68,390 | 82,315 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 92,367 | 96,035 | |
Restricted cash | 525 | 3,390 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance | 92,892 | 99,425 | $ 135,651 |
Inventories: | |||
Finished goods | 3,071 | 6,142 | |
Raw materials | 1,047 | 1,249 | |
Reserve for obsolescence | (339) | (987) | |
Inventory, Net, Total | 3,779 | 6,404 | |
Property and equipment: | |||
Office equipment | 449 | 578 | |
Office software | 1,001 | 1,037 | |
Machinery | 30 | 28 | |
Furniture and fixtures | 254 | 327 | |
Leasehold improvements | 839 | 1,001 | |
Construction in progress | 41 | 0 | |
Property and equipment, at cost | 2,614 | 2,971 | |
Accumulated depreciation and amortization | (2,075) | (2,236) | |
Property, Plant and Equipment, Net, Ending Balance | 539 | 735 | |
Other accrued expenses: | |||
Sales returns | 189 | 373 | |
Employee-related expense | 1,149 | 1,258 | |
Warehousing, inventory-related and other | 584 | 756 | |
Accrued Liabilities, Current, Total | 1,922 | 2,387 | |
Deferred revenue: | |||
Deferred revenue | 3,091 | 4,506 | |
Unshipped Product [Member] | |||
Deferred revenue: | |||
Deferred revenue | 1,005 | 2,390 | |
Auto ship advances [Member] | |||
Deferred revenue: | |||
Deferred revenue | 1,977 | 1,985 | |
Product and Service, Other [Member] | |||
Deferred revenue: | |||
Deferred revenue | $ 109 | $ 131 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements - Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Adjusted cost | [1] | $ 68,401 | $ 82,334 |
Gross unrealized losses | [1] | (11) | (19) |
Fair value | [1] | 68,390 | 82,315 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Adjusted cost | [1] | 21,042 | 11,659 |
Gross unrealized losses | [1] | 0 | 0 |
Fair value | [1] | 21,042 | 11,659 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Adjusted cost | [1] | 5,458 | 13,544 |
Gross unrealized losses | [1] | 0 | 0 |
Fair value | [1] | 5,458 | 13,544 |
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Adjusted cost | [1] | 30,280 | 347 |
Gross unrealized losses | [1] | (5) | 0 |
Fair value | [1] | 30,275 | 347 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Adjusted cost | [1] | 11,621 | 56,784 |
Gross unrealized losses | [1] | (6) | (19) |
Fair value | [1] | $ 11,615 | $ 56,765 |
[1] | FASB Topic 820, Fair Value Measurements, establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | Jun. 30, 2020 | |
Operating Lease, Payments | $ | $ 1.6 | $ 2 | |
HONG KONG | |||
Area of Land (Square Foot) | 7,300 | ||
Rolling Hills Estates [Member] | |||
Area of Land (Square Foot) | 4,900 | ||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||
Richmond, British Columbia [Member] | |||
Area of Land (Square Foot) | 1,600 | ||
Metuchen, New Jersey [Member] | |||
Area of Land (Square Foot) | 2,000 | ||
CHINA | |||
Lessee, Number of Branches | 8 |
Note 6 - Leases - Lease Cost (D
Note 6 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating leases | $ 1,716 | $ 2,024 |
Short-term leases | 299 | 284 |
Total lease cost | $ 2,015 | $ 2,308 |
Weighted-average remaining lease term (in years) (Year) | 5 years 6 months | |
Weighted-average discount rate | 3.40% |
Note 6 - Leases - Maturity of L
Note 6 - Leases - Maturity of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 1,184 |
2022 | 1,081 |
2023 | 583 |
2024 | 261 |
2025 | 261 |
Thereafter | 990 |
Total lease payments | 4,360 |
Less: imputed interest | (422) |
Present value of lease liabilities | $ 3,938 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Assets, Valuation Allowance, Total | $ 340 | $ 289 |
Domestic Tax Authority [Member] | ||
Deferred Tax Assets, Valuation Allowance, Total | 0 | |
Operating Loss Carryforwards, Total | 3,600 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | 3,500 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 2,800 |
Note 7 - Income Taxes - Compone
Note 7 - Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Domestic | $ (1,663) | $ (4,917) |
Foreign | 3,153 | (680) |
Income (loss) before income taxes | $ 1,490 | $ (5,597) |
Note 7 - Income Taxes - Compo_2
Note 7 - Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal | $ (512) | $ 399 |
State | 1 | 33 |
Foreign | 626 | 398 |
Total current taxes | 115 | 830 |
Federal | 346 | (381) |
State | 6 | (47) |
Foreign | 180 | (388) |
Total deferred taxes | 532 | (816) |
Income tax provision | $ 647 | $ 14 |
Note 7 - Income Taxes - Reconci
Note 7 - Income Taxes - Reconciliation of Reported Income Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income tax at federal statutory rate | $ 313 | $ (1,175) |
Effect of permanent differences | 121 | 260 |
Global Intangible Low-Taxed Income | 555 | 364 |
Change in valuation allowance | 51 | 106 |
Foreign rate differential | 72 | 13 |
Foreign tax credits | (98) | 10 |
Stock-based compensation | 164 | 98 |
Net operating loss carryback | (512) | 0 |
Goodwill impairment | 0 | 375 |
Other reconciling items | (19) | (37) |
Income tax provision | $ 647 | $ 14 |
Note 7 - Income Taxes - Foreign
Note 7 - Income Taxes - Foreign Rate Differentials (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Foreign | $ 3,153 | $ (680) |
Department for International Tax Cooperation [Member] | ||
Statutory Tax Rate | 0.00% | |
Foreign | $ 2,589 | (2,746) |
Inland Revenue, Hong Kong [Member] | ||
Statutory Tax Rate | 16.50% | |
Foreign | $ 267 | 3,441 |
State Administration of Taxation, China [Member] | ||
Statutory Tax Rate | 25.00% | |
Foreign | $ 716 | $ (1,644) |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets: | ||
Net operating losses | $ 628 | $ 1,477 |
Stock-based compensation | 510 | 925 |
Operating lease liabilities | 460 | 335 |
Other | 60 | 73 |
Total deferred tax assets | 1,658 | 2,810 |
Valuation allowance | (340) | (289) |
Net deferred tax assets | 1,318 | 2,521 |
Deferred tax liabilities: | ||
Operating lease assets | 438 | 313 |
Foreign deferreds | (216) | (202) |
Prepaids | 113 | 109 |
Other | 36 | 60 |
Total deferred tax liabilities | (803) | (684) |
Net deferred tax assets | $ 515 | $ 1,837 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Aug. 09, 2019 | Feb. 01, 2019 | Dec. 31, 2019 | May 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 20, 2020 | May 16, 2019 | Jan. 12, 2016 | Jul. 28, 2015 |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Common Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | |||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.64 | |||||||||
Dividends, Common Stock, Total | $ 9,100,000 | ||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 70,000,000 | $ 15,000,000 | |||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 97,785 | 612,729 | 383,127 | ||||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 552,000 | $ 6,700,000 | $ 2,900,000 | $ 10,117,000 | |||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 21,900,000 | $ 21,900,000 | |||||||||||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.64 | ||||||||||
Equity Incentive Plan 2016 [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 2,500,000 | 2,500,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,219,583 | 1,219,583 | |||||||||||||
Equity Incentive Plan 2016 [Member] | Restricted Stock [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,117,485 | 22,603 | 1,140,088 | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 7,900,000 | $ 377,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | 3 years | |||||||||||||
Director [Member] | |||||||||||||||
Common Stock, Percentage of Beneficial Stock Outstanding | 5.00% | 5.00% | |||||||||||||
Broady Trust [Member] | |||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 8,000,000 | ||||||||||||||
Open Market Purchases [Member] | |||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 4,700,000 |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Dividends per share (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.64 | |
Dividends | $ 9,138 | $ 7,344 | ||||
Special Dividends Declared October 29, 2019 [Member] | ||||||
Dividends per share (in dollars per share) | $ 0.40 | |||||
Dividends | $ 4,608 | |||||
Special Dividends Declared January 27, 2019 [Member] | ||||||
Dividends per share (in dollars per share) | $ 0.08 | |||||
Dividends | $ 912 | |||||
Dividends Declared January 27, 2019 [Member] | ||||||
Dividends per share (in dollars per share) | $ 0.16 | |||||
Dividends | $ 1,824 |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Restricted Stock Activity (Details) - Restricted Stock [Member] - Equity Incentive Plan 2016 [Member] - $ / shares | Aug. 09, 2019 | Feb. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Nonvested at December 31, 2018 (in shares) | 957,682 | 45,486 | ||
Nonvested balance, wtd. avg. price (in dollars per share) | $ 7.34 | $ 21.61 | ||
Granted (in shares) | 1,117,485 | 22,603 | 1,140,088 | |
Granted, wtd. avg. price (in dollars per share) | $ 7.27 | |||
Vested (in shares) | (391,410) | (227,892) | ||
Vested, wtd. avg. price (in dollars per share) | $ 7.53 | $ 9.84 | ||
Nonvested at December 31, 2019 (in shares) | 566,272 | 957,682 | ||
Nonvested balance, wtd. avg. price (in dollars per share) | $ 7.21 | $ 7.34 |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity - Changes in Accumulated Other Comprehensive Loss (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Balance, December 31, 2019 | $ 75,064 |
Balance, December 31, 2020 | 67,697 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |
Balance, December 31, 2019 | (1,245) |
Other comprehensive income | 920 |
Balance, December 31, 2020 | (325) |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |
Balance, December 31, 2019 | (19) |
Other comprehensive income | 8 |
Balance, December 31, 2020 | (11) |
AOCI Attributable to Parent [Member] | |
Balance, December 31, 2019 | (1,264) |
Other comprehensive income | 928 |
Balance, December 31, 2020 | $ (336) |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Details Textual) | Mar. 20, 2020 | May 17, 2019USD ($)shares | Dec. 31, 2019USD ($)shares | May 31, 2019USD ($)shares | Sep. 30, 2019USD ($)shares | Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | May 16, 2019 |
Treasury Stock, Shares, Acquired (in shares) | shares | 97,785 | 612,729 | 383,127 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ 552,000 | $ 6,700,000 | $ 2,900,000 | $ 10,117,000 | |||||
Broady Trust [Member] | |||||||||
Stock Repurchase Program, Ratio of Number of Shares Authorized to be Repurchased in Private Transaction | 0.4105 | ||||||||
Treasury Stock, Shares, Acquired (in shares) | shares | 178,324 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 1,900,000 | ||||||||
BHS [Member] | Royalty Agreement and License [Member] | |||||||||
Royalty Expense | $ 83,000 | $ 96,000 | |||||||
Unrelated Third Party [Member] | Aberdeen [Member] | |||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 20.00% | ||||||||
Director [Member] | |||||||||
Common Stock, Percentage of Beneficial Stock Outstanding | 5.00% | 5.00% | |||||||
Director [Member] | Aberdeen [Member] | |||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 40.00% | ||||||||
BHS [Member] | Royalty Agreement and License [Member] | |||||||||
Related Party Transaction, Additional Extension Period of Agreement (Year) | 5 years | ||||||||
Related Party Transaction, Automatic Renewal Period of Agreement (Year) | 1 year | ||||||||
Number of Days Termination Notice (Day) | 90 days | ||||||||
Aberdeen [Member] | |||||||||
Related Party Transaction, Other Revenues from Transactions with Related Party | $ 420 | ||||||||
Aberdeen [Member] | Shipment of Apparel Products [Member] | |||||||||
Number of Product Orders | 1 | ||||||||
Related Party Transaction, Amounts of Transaction | $ 7,100 | ||||||||
Sharng Holdings [Member] | Aberdeen [Member] | |||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 40.00% |
Note 11 - Employee Benefit Pl_2
Note 11 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Compensation Arrangement with Individual, Cash Awards Granted, Percentage | 90.00% | |
Age Requirement For 401K Contributions (Year) | 21 years | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 4.50% | 4.50% |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | 100.00% |
Defined Contribution Plan, Cost | $ 68,000 | $ 85,000 |
Note 12 - Segment Information_2
Note 12 - Segment Information (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Reportable Segments | 1 |
Note 12 - Segment Information -
Note 12 - Segment Information - Operating Information by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net sales | $ 62,071 | $ 77,614 |
Income (loss) from operations | 669 | (7,023) |
Other income, net | 821 | 1,426 |
Income (loss) before income taxes | 1,490 | (5,597) |
Operating Segments [Member] | ||
Income (loss) from operations | 9,511 | 7,505 |
Intersegment Eliminations [Member] | ||
Income (loss) from operations | (8,842) | (14,528) |
CHINA | ||
Net sales | 2,940 | 2,941 |
CHINA | Operating Segments [Member] | ||
Income (loss) from operations | 330 | (1,719) |
Russia and Kazakhstan [Member] | ||
Net sales | 888 | 980 |
Russia and Kazakhstan [Member] | Operating Segments [Member] | ||
Income (loss) from operations | (96) | (115) |
Primary Reporting Segment [Member] | ||
Net sales | 58,243 | 73,693 |
Primary Reporting Segment [Member] | Operating Segments [Member] | ||
Income (loss) from operations | $ 9,277 | $ 9,339 |
Note 12 - Segment Information_3
Note 12 - Segment Information - Net Sales by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Net sales | $ 62,071 | $ 77,614 | |
UNITED STATES | |||
Net sales | 1,573 | 2,003 | |
CANADA | |||
Net sales | 765 | 1,048 | |
PERU | |||
Net sales | 1,453 | 2,380 | |
HONG KONG | |||
Net sales | [1] | 49,169 | 62,724 |
CHINA | |||
Net sales | 2,940 | 2,941 | |
TAIWAN, PROVINCE OF CHINA | |||
Net sales | 3,034 | 3,126 | |
Russia and Kazakhstan [Member] | |||
Net sales | 888 | 980 | |
Europe [Member] | |||
Net sales | 1,050 | 1,370 | |
Other Foreign Countries [Member] | |||
Net sales | $ 1,199 | $ 1,042 | |
[1] | Substantially all of our Hong Kong revenues are derived from the sale of products that are delivered to members in China. See “Item 1A. Risk Factors”. |
Note 12 - Segment Information_4
Note 12 - Segment Information - Net Sales by Product and Service (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net sales | $ 62,071 | $ 77,614 |
Less: sales returns | (760) | (1,540) |
Product [Member] | ||
Net sales | 55,840 | 73,048 |
Administrative Fees, Freight and Other [Member] | ||
Net sales | $ 6,991 | $ 6,106 |
Note 12 - Segment Information_5
Note 12 - Segment Information - Long-lived Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total long-lived assets | $ 539 | $ 735 |
UNITED STATES | ||
Total long-lived assets | 227 | 379 |
UNITED KINGDOM | ||
Total long-lived assets | 146 | 135 |
CHINA | ||
Total long-lived assets | 47 | 57 |
Other Foreign Countries [Member] | ||
Total long-lived assets | $ 119 | $ 164 |
Note 13 - Subsequent Event (Det
Note 13 - Subsequent Event (Details Textual) - $ / shares | Feb. 08, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.64 | |
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.20 |