UFP (UFPT) 10-K 14 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 11, 2022	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0000914156
Entity Registrant Name	UFP TECHNOLOGIES INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-12648
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2314970
Entity Address, Address Line One	100 Hale Street
Entity Address, City or Town	Newburyport
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01950-3504
City Area Code	978
Local Phone Number	352-2200
Title of 12(b) Security	Common Stock
Trading Symbol	UFPT
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 394,174,175
Entity Common Stock, Shares Outstanding		7,561,495
Auditor Name	GRANT THORNTON LLP
Auditor Location	Boston, MA
Auditor Firm ID	248

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 11,117	$ 24,234
Receivables, net	39,384	26,428
Inventories	33,436	18,642
Prepaid expenses	3,383	2,560
Total current assets	87,320	71,864
Property, plant and equipment	126,837	118,388
Less accumulated depreciation and amortization	(70,268)	(64,633)
Net property, plant and equipment	56,569	53,755
Goodwill	107,905	51,838
Intangible assets, net	67,585	19,718
Non-qualified deferred compensation plan	4,327	3,724
Finance lease right of use assets	271	100
Operating lease right of use assets	9,053	2,052
Other assets	1,102	153
Total assets	334,132	203,204
Current liabilities:
Accounts payable	10,611	4,121
Accrued expenses	12,700	7,944
Deferred revenue	4,247	1,887
Finance lease liabilities	58	15
Operating lease liabilities	2,181	1,154
Income taxes payable	909	16
Current installments of long-term debt	4,000	0
Total current liabilities	34,706	15,137
Long-term debt, excluding current portion	71,000	0
Deferred income taxes	3,263	5,057
Non-qualified deferred compensation plan	4,337	3,810
Finance lease liabilities	215	86
Operating lease liabilities	6,903	950
Other liabilities	19,262	1,271
Total liabilities	139,686	26,311
Commitments and contingencies (Note 16)
Stockholders’ equity:
Preferred stock, $.01 par value, 1,000,000 shares authorized; no shares issued	0	0
Common stock, $.01 par value, 20,000,000 shares authorized; 7,564,645 and 7,535,086 shares issued and outstanding, respectively at December 31, 2021; and 7,529,625 and 7,500,066 shares issued and outstanding, respectively, at December 31, 2020	75	75
Additional paid-in capital	34,151	32,484
Retained earnings	160,807	144,921
Treasury stock at cost, 29,559 shares at December 31, 2021 and 2020	(587)	(587)
Total stockholders' equity	194,446	176,893
Total liabilities and stockholders' equity	$ 334,132	$ 203,204

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	7,564,645	7,529,625
Common stock, shares outstanding (in shares)	7,535,086	7,500,066
Treasury stock, shares (in shares)	29,599	29,599

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Net sales	$ 206,320	$ 179,373	[1]	$ 198,381
Cost of sales	155,206	134,689		144,422
Gross profit	51,114	44,684		53,959
Selling, general, and administrative expenses	29,480	27,493		29,251
Acquisition costs	430	0		0
(Gain) loss on disposal of property, plant and equipment	(14)	459		0
Operating income	21,218	16,732		24,708
Interest income	49	0		0
Interest expense	(88)	(83)		(674)
Other income (expense)	26	(366)		(388)
Income before income tax provision	21,205	16,283		23,646
Income tax expense	5,319	2,914		3,896
Net income	$ 15,886	$ 13,369		$ 19,750
Net income per common share outstanding:
Basic (in dollars per share)	$ 2.11	$ 1.79		$ 2.66
Diluted (in dollars per share)	$ 2.09	$ 1.77		$ 2.63
Weighted average common shares outstanding:
Basic (in shares)	7,524	7,484		7,424
Diluted (in shares)	7,615	7,568		7,516
[1]	Certain amounts for the three and nine months ended September 30, 2021 were reclassified between markets to conform to the current period presentation.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2018	7,385			30
Balance at Dec. 31, 2018	$ 74	$ 29,168	$ 111,802	$ (587)	$ 140,457
Share-based compensation (in shares)	29			0
Share-based compensation	$ 0	1,591	0	$ 0	1,591
Exercise of stock options (in shares)	45			0
Exercise of stock options	$ 0	705	0	$ 0	705
Net share settlement of restricted stock units (in shares)	(13)			0
Net share settlement of restricted stock units	$ 0	(512)	0	$ 0	(512)
Net income	$ 0	0	19,750	$ 0	19,750
Balance (in shares) at Dec. 31, 2019	7,446			30
Balance at Dec. 31, 2019	$ 74	30,952	131,552	$ (587)	161,991
Share-based compensation (in shares)	43			0
Share-based compensation	$ 1	1,806	0	$ 0	1,807
Exercise of stock options (in shares)	26			0
Exercise of stock options	$ 0	474	0	$ 0	474
Net share settlement of restricted stock units (in shares)	(15)			0
Net share settlement of restricted stock units	$ 0	(748)	0	$ 0	(748)
Net income	$ 0	0	13,369	$ 0	13,369
Balance (in shares) at Dec. 31, 2020	7,500			30
Balance at Dec. 31, 2020	$ 75	32,484	144,921	$ (587)	176,893
Share-based compensation (in shares)	45			0
Share-based compensation	$ 0	2,428	0	$ 0	2,428
Exercise of stock options (in shares)	7			0
Exercise of stock options	$ 0	162	0	$ 0	162
Net share settlement of restricted stock units (in shares)	(17)			0
Net share settlement of restricted stock units	$ 0	(923)	0	$ 0	(923)
Net income	$ 0		15,886	$ 0	15,886
Balance (in shares) at Dec. 31, 2021	7,535			30
Balance at Dec. 31, 2021	$ 75	$ 34,151	$ 160,807	$ (587)	$ 194,446

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income from consolidated operations	$ 15,886	$ 13,369	$ 19,750
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,410	8,268	8,172
(Gain) loss on sales of property, plant and equipment	(14)	459	0
Share-based compensation	2,428	1,807	1,591
Interest expense on finance leases	3	2	0
Deferred income taxes	(1,794)	136	792
Changes in operating assets and liabilities:
Receivables, net	(7,754)	2,220	(327)
Inventories	(4,496)	(366)	1,300
Prepaid expenses	(557)	(256)	(98)
Refundable income taxes	893	295	2,006
Other assets	(681)	(73)	110
Accounts payable	102	(681)	(2,472)
Accrued expenses	1,006	(539)	25
Deferred revenue	2,294	(687)	67
Other liabilities	(1,433)	1,083	313
Net cash provided by operating activities	14,293	25,037	31,229
Cash flows from investing activities:
Additions to property, plant and equipment	(5,395)	(4,368)	(5,778)
Proceeds from sale of property, plant and equipment	114	107	4
Net cash used in investing activities	(101,459)	(4,261)	(5,774)
Cash flows from financing activities:
Proceeds from advances on revolving line of credit	34,839	5,500	0
Payments on revolving line of credit	0	(5,500)	(8,000)
Proceeds from the issuance of long-term debt	40,000	0	0
Principal repayment of long-term debt	0	0	(17,143)
Principal payments on finance lease obligations	(29)	(11)	0
Proceeds from the exercise of stock options	162	474	705
Payment of statutory withholding for restricted stock units vested	(923)	(748)	(512)
Net cash (used in) provided by financing activities	74,049	(285)	(24,950)
Net change in cash and cash equivalents	(13,117)	20,491	505
Cash and cash equivalents at beginning of year	24,234	3,743	3,238
Cash and cash equivalents at end of year	11,117	24,234	3,743
Contech Medical, Inc [Member]
Cash flows from investing activities:
Acquisition, net of cash acquired	(9,500)	0	0
DAS Medical [Member]
Cash flows from investing activities:
Acquisition, net of cash acquired	$ (86,678)	$ 0	$ 0

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 1 Summary of Significant Accounting Policies UFP Technologies, Inc. (“the Company”) is an innovative designer and custom manufacturer of components, subassemblies, products and packaging utilizing highly specialized foams, films, and plastics primarily for the medical market. The Company manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. The Company is diversified by also providing highly engineered products and components to customers in the aerospace and defense, automotive, consumer, electronics, and industrial markets. The Company consists of a single (a) Principles of Consolidation The consolidated financial statements of the Company include the accounts and results of operations of UFP Technologies, Inc. and its wholly-owned subsidiaries, Dielectrics, Inc. (“Dielectrics”), Moulded Fibre Technology, Inc., Contech Medical, Inc. (“Contech”), DAS Medical Holdings, LLC (“DAS Medical”), and DAS Medical’s wholly-owned subsidiaries, Sterimed, LLC, One Degree Medical Holdings, LLC, DAS Medical Corporation, and its wholly-owned subsidiary DAS Medical International, S.R.L., Simco Industries, Inc., and UFP Realty LLC (“UFP Realty”), and UFP Realty’s wholly-owned subsidiaries,. All significant inter-company balances and transactions have been eliminated in consolidation. The Company has evaluated all subsequent events through the date of this filing. (b) Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including allowance for doubtful accounts and the net realizable value of inventory, and the fair value of goodwill, and the fair value of intangible assets, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (c) Fair Value Measurement The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurement or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk. (d) Fair Value of Financial Instruments Cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other liabilities are stated at carrying amounts that approximate fair value because of the short maturity of those instruments. The carrying amount of the Company’s long-term debt approximates fair value as the interest rate on the debt approximates the Company’s current incremental borrowing rate. (e) Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three December 31, 2021 2020, not The Company maintains its cash in bank deposit accounts that at times exceed federally insured limits. The Company periodically reviews the financial stability of institutions holding its accounts and does not Accounts Receivable The Company periodically reviews the collectability of its accounts receivable. Provisions are recorded for accounts that are potentially uncollectable. Determining adequate reserves for accounts receivable requires management’s judgment. Conditions impacting the realizability of the Company’s receivables could cause actual asset write-offs to be materially different than the reserved balances as of December 31, 2021. (f) Inventories Inventories include material, labor, and manufacturing overhead and are valued at the lower of cost or net realizable value. Cost is determined using the first first The Company periodically reviews the realizability of its inventory for potential excess or obsolescence. Determining the net realizable value of inventory requires management’s judgment. Conditions impacting the realizability of the Company’s inventory could cause actual asset write-offs to be materially different than the Company’s current estimates as of December 31, 2021. (g) Property, Plant, and Equipment Property, plant, and equipment are stated at cost and are depreciated or amortized using the straight-line method over the estimated useful lives of the assets or the related lease term, if shorter. Estimated useful lives of property, plant, and equipment are as follows: Leasehold improvements Shorter of estimated useful life or remaining lease term (years) Buildings and improvements 20 – 40 Machinery and equipment 7 – 15 Furniture, fixtures, computers & software 3 – 7 Property, plant, and equipment amounts are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2021 (h) Goodwill Goodwill is tested for impairment annually and will be tested for impairment between annual tests if an event occurs or circumstances change that would indicate that the carrying amount may one 1” one ● The reporting unit’s estimated financials and five ● The projected terminal value which reflects the total present value of projected cash flows beyond the last period in the DCF. This value reflects a growth rate for the reporting unit, which is approximately the same growth rate of expected inflation into perpetuity. ● The discount rate determined using a Weighted Average Cost of Capital method (“WACC”), which considered market and industry data as well as Company-specific risk factors. Selection of guideline public companies which are similar in size and market capitalization to each other and to the Company. As of our most recent step 1 may The Company changed its annual impairment testing date in 2021 October 1, 0” October 1, 2021 not not 1” 1 The net carrying amounts of goodwill for the years ended December 31, 2020 2021 Goodwill December 31, 2020 $ 51,838 Acquired in Contech Medical business combination (See Note 2) 4,278 Acquired in DAS Medical business combination (See Note 2) 51,789 December 31, 2021 $ 107,905 Approximately $104.4 million of goodwill is deductible or has been fully deducted for tax purposes. (i) Intangible Assets Intangible assets with a definite life are amortized on a straight-line basis, with estimated useful lives ranging from 5 to 20 years. Intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that their carrying values may not No December 31, 2021 (j) Revenue Recognition The Company recognizes revenue when a customer obtains control of a promised good or service. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to in exchange for promised goods or services. The Company recognizes revenue in accordance with the core principles of ASC 606 1 2 3 4 5 not not (k) Share-Based Compensation When accounting for equity instruments exchanged for employee services, share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant). Forfeitures are expensed as they occur. The Company issues share-based awards through several plans that are described in detail below. Incentive Plan In June 2003, 2003 Two types of equity awards may may Through December 31, 2021, 2003 December 31, 2021, December 31, 2021, 2003 Director Plan Effective July 15, 1998, 1998 June 3, 2009 2009 March 7, 2013, Through December 31, 2021, December 31, 2021, (l) Shipping and Handling Costs Costs incurred related to shipping and handling are included in cost of sales. Amounts charged to customers pertaining to these costs are included in net sales. (m) Income Taxes The Company’s income taxes are accounted for under the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry‐forwards. Deferred tax expense or benefit results from the net change during the year in deferred tax assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company evaluates the need for a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not not The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not 50% (n) Segments and Related Information The Company follows the provisions of Accounting Standards Codification (ASC) 280, Segment Reporting 19 (o) Treasury Stock The Company accounts for treasury stock under the cost method, using the first first not December 31, 2021, 2020 2019. (p) Research and Development On a routine basis, the Company incurs costs related to research and development activity. These costs are expensed as incurred. Approximately $8.5 million, $8.2 million, and $8.8 million were expensed in the years ended December 31, 2021, 2020 2019, Recent Accounting Pronouncements There are no

Note 2 - Acquisitions

Note 2 - Acquisitions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	( 2 Acquisitions Contech Medical On October 12, 2021 12 June 30, 2022. Founded in 1987, five one five The following table summarizes the allocation of consideration paid to the acquisition date fair value of the assets acquired and liabilities assumed based on management’s estimates of fair value (in thousands): Fair value of consideration transferred: Cash paid at closing $ 9,766 Contingent liability (Earn-out) 4,543 Other liability 500 Cash from Contech (266 ) Total consideration $ 14,543 Purchase Price Allocation: Accounts receivable $ 2,851 Inventory 2,320 Other current assets 37 Property, plant and equipment 1,170 Customer Contracts & Relationships 3,043 Intellectual Property 2,247 Non-Compete agreement 86 Lease right of use assets 1,523 Goodwill 4,278 Total identifiable assets $ 17,555 Accounts payable (1,015 ) Accrued expenses (414 ) Deferred revenue (60 ) Lease liabilities (1,523 ) Net assets acquired $ 14,543 Acquisition costs associated with the transaction were approximately $40 thousand and were charged to expense in the year ended December 31, 2021. The amount of revenue and net income of Contech recognized since the acquisition date, which is included in the condensed consolidated statement of income for the year ended December 31, 2021, DAS Medical On December 22, 2021 may four In connection with its entry into the Purchase Agreement, the Company also entered into an Agreement for the Purchase and Sale of Personal Goodwill (the “Goodwill Agreement”) with the purchase price beneficiaries. Pursuant to the terms of the Goodwill Agreement, on December 22, 2021, The Company has also entered into Non-Competition Agreements with the beneficiaries and the Company has agreed to pay additional consideration to the parties to the Non-Competition Agreements, including an aggregate of $10.0 million in payments over the ten Founded in 2010, The following table summarizes the allocation of consideration paid to the acquisition date fair value of the assets acquired and liabilities assumed based on management’s preliminary estimates of fair value (in thousands): Fair value of consideration transferred: Cash paid at closing $ 95,000 Contingent liability (Earn-out) 5,188 Non-Compete agreements 8,855 Cash from DAS (8,316 ) Total consideration $ 100,727 Purchase Price Allocation: Accounts receivable $ 2,351 Inventory 7,978 Other current assets 68 Property, plant and equipment 3,314 Customer Contracts & Relationships 36,730 Intellectual Property 2,380 Non-Compete agreement 4,697 Lease right of use assets 1,221 Goodwill 51,789 Total identifiable assets $ 110,528 Accounts payable (5,238 ) Accrued expenses (3,336 ) Deferred revenue (6 ) Lease liabilities (1,221 ) Net assets acquired $ 100,727 Acquisition costs associated with the transaction were approximately $293 thousand and were charged to expense in the year ended December 31, 2021. The amount of revenue and net income of DAS Medical recognized since the acquisition date, which is included in the condensed consolidated statement of income for the year ended December 31, 2021, The following table contains an unaudited pro forma condensed consolidated statement of operations for the year ended December 31, 2021, Year Ended December 31, 2021 2020 (Unaudited) (Unaudited) Sales $ 269,932 $ 235,328 Operating Income $ 25,525 $ 22,264 Net Income $ 20,296 $ 18,087 Earnings per share: Basic $ 2.67 $ 2.42 Diluted $ 2.70 $ 2.39 The above unaudited pro forma information is presented for illustrative purposes only and may not may

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 3 Revenue Recognition Disaggregated Revenue The following table presents the Company’s revenue disaggregated by the major types of goods and services sold to our customers (in thousands) (See Note 19 Years Ended December 31, 2021 2020 2019 Net sales of: Products $ 201,248 $ 172,299 $ 193,016 Tooling and Machinery 1,814 2,787 2,730 Engineering services 3,258 4,287 2,635 Total net sales $ 206,320 $ 179,373 $ 198,381 Contract balances Timing of revenue recognition may The following table presents opening and closing balances of contract liabilities for the years ended December 31, 2021 2020 Contract Liabilities Years Ended December 31, 2021 2020 Deferred revenue - beginning of period $ 1,887 $ 2,574 Acquired in business combinations 69 - Increases due to consideration received from customers 4,007 2,673 Revenue recognized (1,716 ) (3,360 ) Deferred revenue - end of period $ 4,247 $ 1,887 Revenue recognized during the years ended December 31, 2021 2020 When invoicing occurs after revenue recognition, the Company has unbilled receivables (contract assets) included within “receivables” on the condensed consolidated balance sheet. The following table presents opening and closing balances of contract assets for the years ended December 31, 2021 2020 Contract Assets Years Ended December 31, 2021 2020 Unbilled Receivables - beginning of period $ 271 $ 72 Increases due to revenue recognized, not invoiced to customers 1,815 3,147 Decreases due to customer invoicing (2,012 ) (2,948 ) Unbilled Receivables - end of period $ 74 $ 271

Note 4 - Supplemental Cash Flow

Note 4 - Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	( 4 Supplemental Cash Flow Information Years Ended December 31, 2021 2020 2019 (in thousands) Cash paid for: Interest $ 53 $ 71 $ 664 Income taxes, net of refunds 5,914 2,481 1,255 Non-cash investing and financing activities: Capital additions accrued but not yet paid $ 135 $ 225 $ 213 Accrued contingent consideration 9,731 - - Present value of non-competition payments 8,855 - - Operating lease right of use assets 5,299 - - Operating lease liabilities (5,299 ) - -

Note 5 - Receivables and Allowa

Note 5 - Receivables and Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	( 5 Receivables and Allowance for Credit Losses Receivables consist of the following (in thousands): December 31, 2021 2020 Accounts receivable–trade $ 39,903 $ 26,912 Less allowance for credit losses (519 ) (484 ) Receivables, net $ 39,384 $ 26,428 The Company is exposed to credit losses primarily through sales of products and services. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not The following table provides a roll-forward of the allowance for credit losses that is deducted from accounts receivable to present the net amount expected to be collected for the years ended December 30, 2021 2020 Allowance for Credit Losses Year Ended December 31, 2021 2020 Allowance - beginning of period $ 484 $ 486 Provision for (reversal of) expected credit losses 179 13 Amounts written off against the allowance, net of recoveries (144 ) (15 ) Allowance - end of period $ 519 $ 484

Note 6 - Inventories

Note 6 - Inventories	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 6 Inventories Inventories consist of the following (in thousands): December 31, 2021 2020 Raw materials $ 22,184 $ 12,229 Work in process 4,205 1,991 Finished goods 7,047 4,422 Total Inventory $ 33,436 $ 18,642

Note 7 - Other Intangible Asset

Note 7 - Other Intangible Assets	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	( 7 Other Intangible Assets The carrying values of the Company’s definite-lived intangible assets as of December 31, 2021 2020 December 31, 2021 Intellectual Property/ Tradename & Brand Non- Compete Customer List Total Weighted-average amortization period (years) 11.9 9.5 20 Gross amount $ 4,994 $ 5,245 $ 62,328 $ 72,567 Accumulated amortization (175 ) (365 ) (4,442 ) $ (4,982 ) Net balance $ 4,819 $ 4,880 $ 57,886 $ 67,585 December 31, 2020 Tradename & Brand Non- Compete Customer List Total Weighted-average amortization period (years) 10 5 20 Gross amount $ 367 $ 462 $ 22,555 $ 23,384 Accumulated amortization (107 ) (270 ) (3,289 ) $ (3,666 ) Net balance $ 260 $ 192 $ 19,266 $ 19,718 Amortization expense related to intangible assets was approximately $1.3 million, $1.3 million, and $1.3 million for the years ended December 31, 2021, 2020 2019, December 31, 2021 2022 4,118 2023 4,033 2024 4,026 2025 4,026 2026 4,023 Thereafter 47,359 Total $ 67,585

Note 8 - Property, Plant and Eq

Note 8 - Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 8 Property, Plant and Equipment Property, plant, and equipment consist of the following (in thousands): December 31, 2021 2020 Land and improvements $ 3,191 $ 3,191 Buildings and improvements 36,234 36,017 Leasehold improvements 4,859 3,160 Machinery & equipment 72,963 67,880 Furniture, fixtures, computers & software 6,052 6,135 Construction in progress 3,538 2,005 Property, plant and equipment $ 126,837 $ 118,388 Accumulated depreciation and amortization (70,268 ) (64,633 ) Net property, plant and equipment $ 56,569 $ 53,755 Depreciation and amortization expense of Property, Plant and Equipment for the years ended December 31, 2021, 2020 2019,

Note 9 - Indebtedness

Note 9 - Indebtedness	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	( 9 Indebtedness On December 22, 2021, February 1, 2018. The credit facilities under the Second Amended and Restated Credit Agreement consist of a $40 million secured term loan to the Company and a secured revolving credit facility, under which the Company may December 21, 2026. March 31, 2022. may The Second Amended and Restated Credit Agreement calls for interest determined by the Bloomberg Short-Term Bank Yield Index rate (“BSBY”) plus a margin that ranges from 1.25% to 2.0% or, at the discretion of the Company, the bank’s prime rate less a margin that ranges from .25% zero December 31, 2021, December 31, 2021, Long-term debt consists of the following (in thousands): December 31, 2021 Revolving credit facility $ 35,000 Term loan 40,000 Total long-term debt 75,000 Current portion (4,000 ) Long-term debt, excluding current portion $ 71,000 Future maturities of long-term debt at December 31, 2021 in thousands Year ended December 31, Term Loan Revolving credit facility Total 2022 $ 4,000 $ - $ 4,000 2023 $ 4,000 $ - $ 4,000 2024 $ 4,000 $ - $ 4,000 2025 $ 4,000 $ - $ 4,000 2026 $ 24,000 $ 35,000 $ 59,000 $ 40,000 $ 35,000 $ 75,000 Derivative Financial Instruments The Company used interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on certain of its variable-rate debt instruments. The Company does not not The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may first three December 31, 2021. December 31, 2021 December 31, 2021 2020, As the Company has paid the remaining balance of the term loan that was associated with the swap in its entirety, there is no

Note 10 - Accrued Expenses

Note 10 - Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	( 10 Accrued Expenses Accrued expenses consist of the following (in thousands): December 31, 2021 2020 Compensation $ 4,878 $ 2,443 Benefits / self-insurance reserve 414 921 Paid time off 1,620 1,538 Short-term portion of deferred payroll tax 905 810 Other 4,883 2,232 $ 12,700 $ 7,944

Note 11 - Income Tax

Note 11 - Income Tax	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 11 Income Tax The Company’s income tax provision for the years ended December 31, 2021, 2020, 2019 Years Ended December 31, 2021 2020 2019 Current Federal $ 5,793 $ 2,223 $ 2,920 State 1,320 555 184 7,113 2,778 3,104 Deferred Federal (1,399 ) (28 ) 485 State (395 ) 164 307 (1,794 ) 136 792 Total income tax provision $ 5,319 $ 2,914 $ 3,896 As a result of the Company’s acquisition of DAS Medical, it will be subject to foreign taxes beginning in 2022. The approximate tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are as follows (in thousands): December 31, 2021 2020 Deferred tax assets: Reserves $ 380 $ 351 Inventory capitalization 706 550 Compensation programs 1,842 802 Equity-based compensation 668 524 Lease liability 2,427 567 Intangible assets 877 - Deferred revenue 365 Other 17 123 Gross deferred tax assets 7,282 2,917 Valuation allowance (17 ) (64 ) Net deferred tax assets 7,265 2,853 Deferred tax liabilities: Excess of book over tax basis of fixed assets (4,481 ) (4,527 ) Goodwill (3,628 ) (2,795 ) Right of use asset (2,419 ) (554 ) Intangible assets - (34 ) Total deferred tax liabilities (10,528 ) (7,910 ) Net long-term deferred tax liabilities $ (3,263 ) $ (5,057 ) The amounts recorded as deferred tax assets as of December 31, 2021 2020 not December 31, 2021, not December 31, 2021 2020, 2020 2019 may December 31, 2021, The Company has approximately $75 thousand of tax credit carryforwards related to the state of Massachusetts that expires in 2022. The actual tax provision for the years presented differs from the “expected” tax provision for those years, computed by applying the U.S. federal corporate rate of 21% to income before income tax expense as follows: Years Ended December 31, 2021 2020 2019 Computed “expected” tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) in income taxes resulting from: State taxes, net of federal tax benefit 4.0 4.2 1.8 Meals and entertainment - 0.1 0.2 Tax credits (1.7 ) (7.2 ) (6.2 ) Return to provision adjustments 0.7 - - Unrecognized tax benefits - - (0.7 ) Excess tax benefits on equity awards - (1.2 ) (0.7 ) Excess compensation 0.7 0.8 0.6 Other 0.6 0.2 0.4 Change in valuation allowance (0.2 ) - 0.1 Effective tax rate 25.1 % 17.9 % 16.5 % The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company has not 2004, 2007, 2019, 2012, 2017. 2016 2019. 2019. 2017 2020 At December 31, 2021 2020, not

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	( 12 Net Income Per Share Basic income per share is based upon the weighted average common shares outstanding during each year. Diluted income per share is based upon the weighted average of common shares and dilutive common stock equivalent shares outstanding during each year. The weighted average number of shares used to compute both basic and diluted income per share consisted of the following (in thousands): Years Ended December 31, 2021 2020 2019 Basic weighted average common shares outstanding during the year 7,524 7,484 7,424 Weighted average common equivalent shares due to stock options and restricted stock units 91 84 92 Diluted weighted average common shares outstanding during the year 7,615 7,568 7,516 The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options, when the average market price of the common stock is lower than the exercise price of the related options during the period. These outstanding stock awards are not For the years ended December 31, 2021, 2020 2019, 10,716, 14,892,

Note 13 - Share-based Compensat

Note 13 - Share-based Compensation	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 13 Share-Based Compensation Share-based compensation is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). Share-based compensation is included in selling, general & administrative expenses as follows (in thousands): Years Ended December 31, Share-based compensation related to: 2021 2020 2019 Common stock grants $ 400 $ 400 $ 400 Stock option grants 210 232 151 Restricted Stock Unit awards 1,818 1,175 1,040 Total share-based compensation $ 2,428 $ 1,807 $ 1,591 The total income tax benefit recognized in the consolidated statements of income for share-based compensation arrangements was approximately $780 thousand, $734 thousand, and $653 thousand for the years ended December 31, 2021, 2020 2019, Common stock grants The compensation expense for common stock granted during the three December 31, 2021, Stock option grants The compensation expense for stock options granted during the three December 31, 2021, Years Ended December 31, 2021 2020 2019 Expected volatility 33.7% 32.8% 28.9% Expected dividends None None None Risk-free interest rate 0.8% 0.3% 2.3% Exercise price $57.34 $43.95 $38.61 Expected term (years) 6.2 6.1 6.0 Weighted-average grant date fair value $19.60 $14.10 $12.70 The stock volatility for each grant is determined based on a review of the experience of the weighted average of historical daily price changes of the Company’s common stock over the expected option term, and the risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected term of the option. The expected term is estimated based on historical option exercise activity. The following is a summary of stock option activity for the year ended December 31, 2021: Shares Under Options Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding December 31, 2020 94,513 $ 30.22 Granted 10,716 57.34 Exercised (6,558 ) 24.77 Outstanding December 31, 2021 98,671 $ 33.53 5.81 $ 3,624 Exercisable at December 31, 2021 87,955 $ 30.63 5.37 $ 3,486 Vested and expected to vest at December 31, 2021 98,671 $ 33.53 5.81 $ 3,624 During the years ended December 31, 2021, 2020 2019, December 31, 2021, 2020 2019, Restricted Stock Unit awards ( RSU s ) The Company grants RSUs to its directors, executive officers and employees. The stock unit awards are subject to various time-based vesting requirements, and certain portions of these awards are subject to performance criteria of the Company. Compensation expense on these awards is recorded based on the fair value of the award at the date of grant, which is equal to the Company’s closing stock price, and is charged, to expense ratably during the service period. No not The following table summarizes information about stock unit award activity during the year ended December 31, 2021: Restricted Stock Units Weighted Average Award Date Fair Value Outstanding at December 31, 2020 93,187 $ 35.03 Awarded 48,483 50.12 Shares vested (39,214 ) 32.86 Forfeitures (1,288 ) 49.21 Outstanding at December 31, 2021 101,168 $ 41.78 At the Company’s discretion, RSU holders are given the option to net-share settle to cover the required minimum withholding tax, and the remaining amount is converted into the equivalent number of common shares. During the year ended December 31, 2021, December 31, 2020 2019, The following summarizes the future share-based compensation expense the Company will record as the equity securities granted through December 31, 2021, Options Restricted Stock Units Total 2022 $ 41 $ 1,370 $ 1,411 2023 - 898 898 2024 - 116 116 Total $ 41 $ 2,384 $ 2,425

Note 14 - Leases

Note 14 - Leases	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	( 14 Leases The Company has operating and finance leases for offices, manufacturing plants, vehicles and certain office and manufacturing equipment. Leases with an initial term of 12 not not ROU assets represent the Company's right to use an underlying asset during the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date based on the net present value of fixed lease payments over the lease term. The Company's lease term includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. ROU assets are also adjusted for any deferred or accrued rent. As the Company's leases do not Year Ended December 31, ($ in thousands) 2021 2020 Lease Cost: Finance lease cost: Amortization of right of use assets $ 27 $ 10 Interest on lease liabilities 3 2 Operating lease cost 1,263 1,207 Variable lease cost 263 215 Short-term lease cost 43 28 Total lease cost $ 1,599 $ 1,462 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,284 $ 1,212 Financing cash flows from finance leases 29 11 ROU assets obtained in exchange for finance lease obligations 198 110 Weighted-average remaining lease term (years): Finance 4.54 6.33 Operating 3.95 1.78 Weighted-average discount rate: Finance 2.10 % 2.26 % Operating 2.63 % 4.37 % The aggregate future lease payments for leases as of December 31, 2021 2020 December 31, 2021 Finance Operating 2022 $ 63 $ 2,212 2023 63 1,297 2024 63 1,230 2025 63 1,100 2026 29 831 Thereafter 6 3,298 Total lease payments 287 9,968 Less: Interest (14 ) (884 ) Present value of lease liabilities $ 273 $ 9,084 Rent expense amounted to approximately $1.4 million, $1.3 million, and $1.2 million in 2021, 2020 2019,

Note 15 - Other Long-term Liabi

Note 15 - Other Long-term Liabilities	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	( 15 Other Long-Term Liabilities Other long-term liabilities consist of the following (in thousands): December 31, 2021 2020 Accrued contingent consideration (earn-out) $ 9,731 $ - Present value of non-competition payments 8,855 - Other 676 1,271 $ 19,262 $ 1,271

Note 16 - Commitments and Conti

Note 16 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 16 Commitments and Contingencies (a) Leases 2023. 14 (b) Legal may not (c) Contingent Consideration fourth 2021,

Note 17 - Employee Benefit Plan

Note 17 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	( 17 Employee Benefit Plans The Company maintains a profit-sharing plan for eligible employees. Contributions to the Plan are made in the form of matching contributions to employee 401 March 15 2021, 2020 2019, The Company has a partially self-insured health insurance program that covers all eligible participating employees. The maximum liability is limited by a stop loss of $225 thousand per insured person, along with an aggregate stop loss determined by the number of participants. The Company has an Executive, Non-qualified “Excess” Plan (“the Plan”), which is a deferred compensation plan available to certain executives. The Plan permits participants to defer receipt of part of their current compensation to a later date as part of their personal retirement or financial planning. Participants have an unsecured contractual commitment from the Company to pay amounts due under the Plan. The compensation withheld from Plan participants, together with gains or losses determined by the participants’ deferral elections is reflected as a deferred compensation obligation to participants and is classified within the liabilities section in the accompanying balance sheets. At December 31, 2021 2020, December 31, 2021 2020,

Note 18 - Fair Value of Financi

Note 18 - Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 18 Fair Value of Financial Instruments Financial instruments recorded at fair value in the consolidated balance sheets, or disclosed at fair value in the footnotes, are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels defined by ASC 820, Fair Value Measurements and Disclosures Level 1 Valued based on unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Valued based on either directly or indirectly observable prices for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level 3 Valued based on management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. The following table presents the fair value and hierarchy levels, for financial assets that are measured at fair value on a recurring basis (in thousands): Level 2 December 31, 2021 December 31, 2020 Liabilities: Derivative financial instruments $ 176 $ 465 Level 3 Purchase price contingent consideration (Note 2): Accrued contingent consideration (earn-out) $ 9,731 $ - Present value of non-competition payments 8,855 - Derivative financial instruments consist of an interest rate swap for which fair value is determined through the use of a pricing model that utilizes verifiable inputs such as market interest rates that are observable at commonly quoted intervals for the full term of the swap agreement. In connection with the acquisitions discussed in Note 2, 3 Also in connection with the DAS Medical acquisition, the Company has entered into Non-Competition Agreements with the beneficiaries and the Company has agreed to pay additional consideration to the parties to the Non-Competition Agreements, including an aggregate of $10.0 million in payments over the ten 3 The Company has financial instruments, such as accounts receivable, accounts payable, and accrued expenses, that are stated at carrying amounts that approximate fair value because of the short maturity of those instruments. The carrying amount of the Company’s long-term debt approximates fair value as the interest rate on the debt approximates the estimated borrowing rate currently available to the Company.

Note 19 - Segment Data

Note 19 - Segment Data	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 19 Segment Data The Company consists of a single Revenues from customers outside of the United States are not 10% December 31, 2021, 2020 2019. December 31, 2021 2020, one The Company’s custom products are primarily sold to customers within the Medical, Consumer, Aerospace & Defense, Automotive, Industrial, and Electronics markets. Sales by market for the years ended December 31, 2021, 2020 2019 2021 2020 2019 Market Net Sales % Net Sales % Net Sales % Medical $ 132,520 64.2 % $ 120,258 67.2 % $ 128,915 65.1 % Consumer 26,048 12.6 % 18,316 10.2 % 17,669 8.9 % Aerospace & Defense 16,103 7.8 % 12,810 7.1 % 13,778 6.9 % Automotive 15,596 7.6 % 14,607 8.1 % 20,004 10.1 % Industrial 8,661 4.2 % 7,622 4.2 % 9,607 4.8 % Electronics 7,392 3.6 % 5,760 3.2 % 8,408 4.2 % Net Sales $ 206,320 100.0 % $ 179,373 100.0 % $ 198,381 100.0 % Certain amounts for the years ended December 31, 2020 2019

Note 20 - Quarterly Financial I

Note 20 - Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Quarterly Financial Information [Text Block]	( 20 Quarterly Financial Information (unaudited) Summarized quarterly financial data is as follows (in thousands, except per share data): 2021 Q1 Q2 Q3 Q4 Net sales $ 48,599 $ 50,655 $ 50,723 $ 56,343 Gross profit 12,609 13,414 12,016 13,075 Net income 4,163 4,715 3,789 3,219 Basic net income per share 0.55 0.63 0.50 0.43 Diluted net income per share 0.55 0.62 0.50 0.42 2020 Q1 Q2 Q3 Q4 Net sales $ 48,277 $ 42,644 $ 43,299 $ 45,153 Gross profit 12,823 9,949 10,528 11,384 Net income 3,891 2,318 2,988 4,172 Basic net income per share 0.52 0.31 0.40 0.56 Diluted net income per share 0.52 0.31 0.40 0.55

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	UFP TECHNOLOGIES, INC. Consolidated Financial Statement Schedule Valuation and Qualifying Accounts Years ended December 31, 2021, 2020 2019 Accounts receivable, allowance for credit losses: 2021 2020 2019 Balance at beginning of year $ 484 $ 486 $ 564 Provision for (reversal of) bad debt 179 13 (52 ) Write-offs, net of recoveries (144 ) (15 ) (26 ) Balance at end of year $ 519 $ 484 $ 486

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	(a) Principles of Consolidation The consolidated financial statements of the Company include the accounts and results of operations of UFP Technologies, Inc. and its wholly-owned subsidiaries, Dielectrics, Inc. (“Dielectrics”), Moulded Fibre Technology, Inc., Contech Medical, Inc. (“Contech”), DAS Medical Holdings, LLC (“DAS Medical”), and DAS Medical’s wholly-owned subsidiaries, Sterimed, LLC, One Degree Medical Holdings, LLC, DAS Medical Corporation, and its wholly-owned subsidiary DAS Medical International, S.R.L., Simco Industries, Inc., and UFP Realty LLC (“UFP Realty”), and UFP Realty’s wholly-owned subsidiaries,. All significant inter-company balances and transactions have been eliminated in consolidation. The Company has evaluated all subsequent events through the date of this filing.
Use of Estimates, Policy [Policy Text Block]	(b) Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including allowance for doubtful accounts and the net realizable value of inventory, and the fair value of goodwill, and the fair value of intangible assets, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	(c) Fair Value Measurement The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurement or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk.
Fair Value of Financial Instruments, Policy [Policy Text Block]	(d) Fair Value of Financial Instruments Cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other liabilities are stated at carrying amounts that approximate fair value because of the short maturity of those instruments. The carrying amount of the Company’s long-term debt approximates fair value as the interest rate on the debt approximates the Company’s current incremental borrowing rate.
Cash and Cash Equivalents, Policy [Policy Text Block]	(e) Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three December 31, 2021 2020, not The Company maintains its cash in bank deposit accounts that at times exceed federally insured limits. The Company periodically reviews the financial stability of institutions holding its accounts and does not Accounts Receivable The Company periodically reviews the collectability of its accounts receivable. Provisions are recorded for accounts that are potentially uncollectable. Determining adequate reserves for accounts receivable requires management’s judgment. Conditions impacting the realizability of the Company’s receivables could cause actual asset write-offs to be materially different than the reserved balances as of December 31, 2021.
Inventory, Cash Flow Policy [Policy Text Block]	(f) Inventories Inventories include material, labor, and manufacturing overhead and are valued at the lower of cost or net realizable value. Cost is determined using the first first The Company periodically reviews the realizability of its inventory for potential excess or obsolescence. Determining the net realizable value of inventory requires management’s judgment. Conditions impacting the realizability of the Company’s inventory could cause actual asset write-offs to be materially different than the Company’s current estimates as of December 31, 2021.
Property, Plant and Equipment, Policy [Policy Text Block]	(g) Property, Plant, and Equipment Property, plant, and equipment are stated at cost and are depreciated or amortized using the straight-line method over the estimated useful lives of the assets or the related lease term, if shorter. Estimated useful lives of property, plant, and equipment are as follows: Leasehold improvements Shorter of estimated useful life or remaining lease term (years) Buildings and improvements 20 – 40 Machinery and equipment 7 – 15 Furniture, fixtures, computers & software 3 – 7 Property, plant, and equipment amounts are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not No December 31, 2021
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	(h) Goodwill Goodwill is tested for impairment annually and will be tested for impairment between annual tests if an event occurs or circumstances change that would indicate that the carrying amount may one 1” one ● The reporting unit’s estimated financials and five ● The projected terminal value which reflects the total present value of projected cash flows beyond the last period in the DCF. This value reflects a growth rate for the reporting unit, which is approximately the same growth rate of expected inflation into perpetuity. ● The discount rate determined using a Weighted Average Cost of Capital method (“WACC”), which considered market and industry data as well as Company-specific risk factors. Selection of guideline public companies which are similar in size and market capitalization to each other and to the Company. As of our most recent step 1 may The Company changed its annual impairment testing date in 2021 October 1, 0” October 1, 2021 not not 1” 1 The net carrying amounts of goodwill for the years ended December 31, 2020 2021 Goodwill December 31, 2020 $ 51,838 Acquired in Contech Medical business combination (See Note 2) 4,278 Acquired in DAS Medical business combination (See Note 2) 51,789 December 31, 2021 $ 107,905 Approximately $104.4 million of goodwill is deductible or has been fully deducted for tax purposes.
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	(i) Intangible Assets Intangible assets with a definite life are amortized on a straight-line basis, with estimated useful lives ranging from 5 to 20 years. Intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that their carrying values may not No December 31, 2021
Revenue from Contract with Customer [Policy Text Block]	(j) Revenue Recognition The Company recognizes revenue when a customer obtains control of a promised good or service. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to in exchange for promised goods or services. The Company recognizes revenue in accordance with the core principles of ASC 606 1 2 3 4 5 not not
Share-based Payment Arrangement [Policy Text Block]	(k) Share-Based Compensation When accounting for equity instruments exchanged for employee services, share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant). Forfeitures are expensed as they occur. The Company issues share-based awards through several plans that are described in detail below. Incentive Plan In June 2003, 2003 Two types of equity awards may may Through December 31, 2021, 2003 December 31, 2021, December 31, 2021, 2003 Director Plan Effective July 15, 1998, 1998 June 3, 2009 2009 March 7, 2013, Through December 31, 2021, December 31, 2021,
Shipping and Handling Costs [Policy Text Block]	(l) Shipping and Handling Costs Costs incurred related to shipping and handling are included in cost of sales. Amounts charged to customers pertaining to these costs are included in net sales.
Income Tax, Policy [Policy Text Block]	(m) Income Taxes The Company’s income taxes are accounted for under the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry‐forwards. Deferred tax expense or benefit results from the net change during the year in deferred tax assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company evaluates the need for a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not not The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not 50%
Segment Reporting, Policy [Policy Text Block]	(n) Segments and Related Information The Company follows the provisions of Accounting Standards Codification (ASC) 280, Segment Reporting 19
Stockholders Equity, Treasury Stock [Policy Text Block]	(o) Treasury Stock The Company accounts for treasury stock under the cost method, using the first first not December 31, 2021, 2020 2019.
Research and Development Expense, Policy [Policy Text Block]	(p) Research and Development On a routine basis, the Company incurs costs related to research and development activity. These costs are expensed as incurred. Approximately $8.5 million, $8.2 million, and $8.8 million were expensed in the years ended December 31, 2021, 2020 2019,
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements There are no

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment, Estimated Useful Lives [Table Text Block]	Leasehold improvements Shorter of estimated useful life or remaining lease term (years) Buildings and improvements 20 – 40 Machinery and equipment 7 – 15 Furniture, fixtures, computers & software 3 – 7
Schedule of Goodwill [Table Text Block]	Goodwill December 31, 2020 $ 51,838 Acquired in Contech Medical business combination (See Note 2) 4,278 Acquired in DAS Medical business combination (See Note 2) 51,789 December 31, 2021 $ 107,905

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Fair value of consideration transferred: Cash paid at closing $ 9,766 Contingent liability (Earn-out) 4,543 Other liability 500 Cash from Contech (266 ) Total consideration $ 14,543 Purchase Price Allocation: Accounts receivable $ 2,851 Inventory 2,320 Other current assets 37 Property, plant and equipment 1,170 Customer Contracts & Relationships 3,043 Intellectual Property 2,247 Non-Compete agreement 86 Lease right of use assets 1,523 Goodwill 4,278 Total identifiable assets $ 17,555 Accounts payable (1,015 ) Accrued expenses (414 ) Deferred revenue (60 ) Lease liabilities (1,523 ) Net assets acquired $ 14,543 Fair value of consideration transferred: Cash paid at closing $ 95,000 Contingent liability (Earn-out) 5,188 Non-Compete agreements 8,855 Cash from DAS (8,316 ) Total consideration $ 100,727 Purchase Price Allocation: Accounts receivable $ 2,351 Inventory 7,978 Other current assets 68 Property, plant and equipment 3,314 Customer Contracts & Relationships 36,730 Intellectual Property 2,380 Non-Compete agreement 4,697 Lease right of use assets 1,221 Goodwill 51,789 Total identifiable assets $ 110,528 Accounts payable (5,238 ) Accrued expenses (3,336 ) Deferred revenue (6 ) Lease liabilities (1,221 ) Net assets acquired $ 100,727
Business Acquisition, Pro Forma Information [Table Text Block]	Year Ended December 31, 2021 2020 (Unaudited) (Unaudited) Sales $ 269,932 $ 235,328 Operating Income $ 25,525 $ 22,264 Net Income $ 20,296 $ 18,087 Earnings per share: Basic $ 2.67 $ 2.42 Diluted $ 2.70 $ 2.39

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Years Ended December 31, 2021 2020 2019 Net sales of: Products $ 201,248 $ 172,299 $ 193,016 Tooling and Machinery 1,814 2,787 2,730 Engineering services 3,258 4,287 2,635 Total net sales $ 206,320 $ 179,373 $ 198,381
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Liabilities Years Ended December 31, 2021 2020 Deferred revenue - beginning of period $ 1,887 $ 2,574 Acquired in business combinations 69 - Increases due to consideration received from customers 4,007 2,673 Revenue recognized (1,716 ) (3,360 ) Deferred revenue - end of period $ 4,247 $ 1,887 Contract Assets Years Ended December 31, 2021 2020 Unbilled Receivables - beginning of period $ 271 $ 72 Increases due to revenue recognized, not invoiced to customers 1,815 3,147 Decreases due to customer invoicing (2,012 ) (2,948 ) Unbilled Receivables - end of period $ 74 $ 271

Note 4 - Supplemental Cash Fl_2

Note 4 - Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Years Ended December 31, 2021 2020 2019 (in thousands) Cash paid for: Interest $ 53 $ 71 $ 664 Income taxes, net of refunds 5,914 2,481 1,255 Non-cash investing and financing activities: Capital additions accrued but not yet paid $ 135 $ 225 $ 213 Accrued contingent consideration 9,731 - - Present value of non-competition payments 8,855 - - Operating lease right of use assets 5,299 - - Operating lease liabilities (5,299 ) - -

Note 5 - Receivables and Allo_2

Note 5 - Receivables and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 2021 2020 Accounts receivable–trade $ 39,903 $ 26,912 Less allowance for credit losses (519 ) (484 ) Receivables, net $ 39,384 $ 26,428
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for Credit Losses Year Ended December 31, 2021 2020 Allowance - beginning of period $ 484 $ 486 Provision for (reversal of) expected credit losses 179 13 Amounts written off against the allowance, net of recoveries (144 ) (15 ) Allowance - end of period $ 519 $ 484

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2021 2020 Raw materials $ 22,184 $ 12,229 Work in process 4,205 1,991 Finished goods 7,047 4,422 Total Inventory $ 33,436 $ 18,642

Note 7 - Other Intangible Ass_2

Note 7 - Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	December 31, 2021 Intellectual Property/ Tradename & Brand Non- Compete Customer List Total Weighted-average amortization period (years) 11.9 9.5 20 Gross amount $ 4,994 $ 5,245 $ 62,328 $ 72,567 Accumulated amortization (175 ) (365 ) (4,442 ) $ (4,982 ) Net balance $ 4,819 $ 4,880 $ 57,886 $ 67,585 December 31, 2020 Tradename & Brand Non- Compete Customer List Total Weighted-average amortization period (years) 10 5 20 Gross amount $ 367 $ 462 $ 22,555 $ 23,384 Accumulated amortization (107 ) (270 ) (3,289 ) $ (3,666 ) Net balance $ 260 $ 192 $ 19,266 $ 19,718
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2022 4,118 2023 4,033 2024 4,026 2025 4,026 2026 4,023 Thereafter 47,359 Total $ 67,585

Note 8 - Property, Plant and _2

Note 8 - Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2021 2020 Land and improvements $ 3,191 $ 3,191 Buildings and improvements 36,234 36,017 Leasehold improvements 4,859 3,160 Machinery & equipment 72,963 67,880 Furniture, fixtures, computers & software 6,052 6,135 Construction in progress 3,538 2,005 Property, plant and equipment $ 126,837 $ 118,388 Accumulated depreciation and amortization (70,268 ) (64,633 ) Net property, plant and equipment $ 56,569 $ 53,755

Note 9 - Indebtedness (Tables)

Note 9 - Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2021 Revolving credit facility $ 35,000 Term loan 40,000 Total long-term debt 75,000 Current portion (4,000 ) Long-term debt, excluding current portion $ 71,000
Schedule of Maturities of Long-term Debt [Table Text Block]	Year ended December 31, Term Loan Revolving credit facility Total 2022 $ 4,000 $ - $ 4,000 2023 $ 4,000 $ - $ 4,000 2024 $ 4,000 $ - $ 4,000 2025 $ 4,000 $ - $ 4,000 2026 $ 24,000 $ 35,000 $ 59,000 $ 40,000 $ 35,000 $ 75,000

Note 10 - Accrued Expenses (Tab

Note 10 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2021 2020 Compensation $ 4,878 $ 2,443 Benefits / self-insurance reserve 414 921 Paid time off 1,620 1,538 Short-term portion of deferred payroll tax 905 810 Other 4,883 2,232 $ 12,700 $ 7,944

Note 11 - Income Tax (Tables)

Note 11 - Income Tax (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years Ended December 31, 2021 2020 2019 Current Federal $ 5,793 $ 2,223 $ 2,920 State 1,320 555 184 7,113 2,778 3,104 Deferred Federal (1,399 ) (28 ) 485 State (395 ) 164 307 (1,794 ) 136 792 Total income tax provision $ 5,319 $ 2,914 $ 3,896
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2021 2020 Deferred tax assets: Reserves $ 380 $ 351 Inventory capitalization 706 550 Compensation programs 1,842 802 Equity-based compensation 668 524 Lease liability 2,427 567 Intangible assets 877 - Deferred revenue 365 Other 17 123 Gross deferred tax assets 7,282 2,917 Valuation allowance (17 ) (64 ) Net deferred tax assets 7,265 2,853 Deferred tax liabilities: Excess of book over tax basis of fixed assets (4,481 ) (4,527 ) Goodwill (3,628 ) (2,795 ) Right of use asset (2,419 ) (554 ) Intangible assets - (34 ) Total deferred tax liabilities (10,528 ) (7,910 ) Net long-term deferred tax liabilities $ (3,263 ) $ (5,057 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2021 2020 2019 Computed “expected” tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) in income taxes resulting from: State taxes, net of federal tax benefit 4.0 4.2 1.8 Meals and entertainment - 0.1 0.2 Tax credits (1.7 ) (7.2 ) (6.2 ) Return to provision adjustments 0.7 - - Unrecognized tax benefits - - (0.7 ) Excess tax benefits on equity awards - (1.2 ) (0.7 ) Excess compensation 0.7 0.8 0.6 Other 0.6 0.2 0.4 Change in valuation allowance (0.2 ) - 0.1 Effective tax rate 25.1 % 17.9 % 16.5 %

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Years Ended December 31, 2021 2020 2019 Basic weighted average common shares outstanding during the year 7,524 7,484 7,424 Weighted average common equivalent shares due to stock options and restricted stock units 91 84 92 Diluted weighted average common shares outstanding during the year 7,615 7,568 7,516

Note 13 - Share-based Compens_2

Note 13 - Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Employee Service Share Based Compensation Allocation of Recognized Period Costs, By Award Type [Table Text Block]	Years Ended December 31, Share-based compensation related to: 2021 2020 2019 Common stock grants $ 400 $ 400 $ 400 Stock option grants 210 232 151 Restricted Stock Unit awards 1,818 1,175 1,040 Total share-based compensation $ 2,428 $ 1,807 $ 1,591
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Years Ended December 31, 2021 2020 2019 Expected volatility 33.7% 32.8% 28.9% Expected dividends None None None Risk-free interest rate 0.8% 0.3% 2.3% Exercise price $57.34 $43.95 $38.61 Expected term (years) 6.2 6.1 6.0 Weighted-average grant date fair value $19.60 $14.10 $12.70
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Shares Under Options Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding December 31, 2020 94,513 $ 30.22 Granted 10,716 57.34 Exercised (6,558 ) 24.77 Outstanding December 31, 2021 98,671 $ 33.53 5.81 $ 3,624 Exercisable at December 31, 2021 87,955 $ 30.63 5.37 $ 3,486 Vested and expected to vest at December 31, 2021 98,671 $ 33.53 5.81 $ 3,624
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Restricted Stock Units Weighted Average Award Date Fair Value Outstanding at December 31, 2020 93,187 $ 35.03 Awarded 48,483 50.12 Shares vested (39,214 ) 32.86 Forfeitures (1,288 ) 49.21 Outstanding at December 31, 2021 101,168 $ 41.78
Schedule of Future Share-based Compensation Expense [Table Text Block]	Options Restricted Stock Units Total 2022 $ 41 $ 1,370 $ 1,411 2023 - 898 898 2024 - 116 116 Total $ 41 $ 2,384 $ 2,425

Note 14 - Leases (Tables)

Note 14 - Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Lease, Cost [Table Text Block]	Year Ended December 31, ($ in thousands) 2021 2020 Lease Cost: Finance lease cost: Amortization of right of use assets $ 27 $ 10 Interest on lease liabilities 3 2 Operating lease cost 1,263 1,207 Variable lease cost 263 215 Short-term lease cost 43 28 Total lease cost $ 1,599 $ 1,462 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,284 $ 1,212 Financing cash flows from finance leases 29 11 ROU assets obtained in exchange for finance lease obligations 198 110 Weighted-average remaining lease term (years): Finance 4.54 6.33 Operating 3.95 1.78 Weighted-average discount rate: Finance 2.10 % 2.26 % Operating 2.63 % 4.37 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	December 31, 2021 Finance Operating 2022 $ 63 $ 2,212 2023 63 1,297 2024 63 1,230 2025 63 1,100 2026 29 831 Thereafter 6 3,298 Total lease payments 287 9,968 Less: Interest (14 ) (884 ) Present value of lease liabilities $ 273 $ 9,084

Note 15 - Other Long-term Lia_2

Note 15 - Other Long-term Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Other Noncurrent Liabilities [Table Text Block]	December 31, 2021 2020 Accrued contingent consideration (earn-out) $ 9,731 $ - Present value of non-competition payments 8,855 - Other 676 1,271 $ 19,262 $ 1,271

Note 18 - Fair Value of Finan_2

Note 18 - Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 2 December 31, 2021 December 31, 2020 Liabilities: Derivative financial instruments $ 176 $ 465 Level 3 Purchase price contingent consideration (Note 2): Accrued contingent consideration (earn-out) $ 9,731 $ - Present value of non-competition payments 8,855 -

Note 19 - Segment Data (Tables)

Note 19 - Segment Data (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	2021 2020 2019 Market Net Sales % Net Sales % Net Sales % Medical $ 132,520 64.2 % $ 120,258 67.2 % $ 128,915 65.1 % Consumer 26,048 12.6 % 18,316 10.2 % 17,669 8.9 % Aerospace & Defense 16,103 7.8 % 12,810 7.1 % 13,778 6.9 % Automotive 15,596 7.6 % 14,607 8.1 % 20,004 10.1 % Industrial 8,661 4.2 % 7,622 4.2 % 9,607 4.8 % Electronics 7,392 3.6 % 5,760 3.2 % 8,408 4.2 % Net Sales $ 206,320 100.0 % $ 179,373 100.0 % $ 198,381 100.0 %

Note 20 - Quarterly Financial_2

Note 20 - Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Quarterly Financial Information [Table Text Block]	2021 Q1 Q2 Q3 Q4 Net sales $ 48,599 $ 50,655 $ 50,723 $ 56,343 Gross profit 12,609 13,414 12,016 13,075 Net income 4,163 4,715 3,789 3,219 Basic net income per share 0.55 0.63 0.50 0.43 Diluted net income per share 0.55 0.62 0.50 0.42 2020 Q1 Q2 Q3 Q4 Net sales $ 48,277 $ 42,644 $ 43,299 $ 45,153 Gross profit 12,823 9,949 10,528 11,384 Net income 3,891 2,318 2,988 4,172 Basic net income per share 0.52 0.31 0.40 0.56 Diluted net income per share 0.52 0.31 0.40 0.55

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Summary of Allowance for Doubtful Accounts and Revenue Adjustments [Table Text Block]	2021 2020 2019 Balance at beginning of year $ 484 $ 486 $ 564 Provision for (reversal of) bad debt 179 13 (52 ) Write-offs, net of recoveries (144 ) (15 ) (26 ) Balance at end of year $ 519 $ 484 $ 486

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	Mar. 07, 2013	Jun. 30, 2003	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2021USD ($)shares
Number of Operating Segments			1
Number of Reportable Segments			1
Cash Equivalents, at Carrying Value, Total | $			$ 0	$ 0		$ 0	$ 0
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $			$ 104,400			$ 104,400	$ 104,400
Treasury Stock, Shares, Acquired (in shares)			0	0	0
Research and Development Expense, Total | $			$ 8,500	$ 8,200	$ 8,800
The 2003 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares)			1,298,721
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)							185,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			5,500			5,500	5,500
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)			768,052			768,052	768,052
The 2003 Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		5 years
The 2003 Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares)			0
Common Stock, Capital Shares Reserved for Future Issuance (in shares)			97,508			97,508	97,508
Nonemployee Director Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						390,634
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			93,171			93,171	93,171
Nonemployee Director Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Common Stock, Capital Shares Reserved for Future Issuance (in shares)			3,660			3,660	3,660
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)			45,604			45,604	45,604
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			5 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			20 years

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant, and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Building and Building Improvements [Member] | Minimum [Member]
Property, plant, and equipment, useful life (Year)	20 years
Building and Building Improvements [Member] | Maximum [Member]
Property, plant, and equipment, useful life (Year)	40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, plant, and equipment, useful life (Year)	7 years
Machinery and Equipment [Member] | Maximum [Member]
Property, plant, and equipment, useful life (Year)	15 years
Furniture, Fixtures, and Computers [Member] | Minimum [Member]
Property, plant, and equipment, useful life (Year)	3 years
Furniture, Fixtures, and Computers [Member] | Maximum [Member]
Property, plant, and equipment, useful life (Year)	7 years

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
December 31, 2020	$ 51,838
December 31, 2021	107,905
Contech Medical, Inc [Member]
Acquired in Contech Medical business combination (See Note 2)	4,278
DAS Medical [Member]
Acquired in Contech Medical business combination (See Note 2)	$ 51,789

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) $ in Thousands	Dec. 22, 2021USD ($)	Oct. 12, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Business Combination, Acquisition Related Costs			$ 430	$ 0	$ 0
Contech Medical, Inc [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 9,500	9,500	0	0
Business Combination, Contingent Consideration, Liability, Total		500
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 5,000
Lessee, Operating Lease, Term of Contract (Year)		5 years
Number of Lease Term Options		1
Business Combination, Acquisition Related Costs			40
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			4,500
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			500
Payments to Acquire Businesses, Gross		$ 9,766
DAS Medical [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 66,700		86,678	$ 0	$ 0
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	20,000
Business Combination, Acquisition Related Costs	293
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			1,400
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			$ 100
Payments to Acquire Businesses, Gross	95,000
DAS Medical [Member] | Goodwill Agreement [Member]
Payments to Acquire Businesses, Gross	20,000
DAS Medical [Member] | Non-Competition Agreements [Member]
Payments to Acquire Businesses, Gross	$ 10,000
Business Combination, Agreement Term (Year)	10 years

Note 2 - Acquisitions - Assets

Note 2 - Acquisitions - Assets Acquires and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 22, 2021	Oct. 12, 2021	Dec. 31, 2021	Dec. 31, 2020
Goodwill			$ 107,905	$ 51,838
Contech Medical, Inc [Member]
Cash paid at closing		$ 9,766
Contingent liability (Earn-out)		4,543
Other liability		500
Cash from Contech		(266)
Total consideration		14,543
Accounts receivable		2,851
Inventory		2,320
Other current assets		37
Property, plant and equipment		1,170
Lease right of use assets		1,523
Goodwill		4,278
Total identifiable assets		17,555
Accounts payable		(1,015)
Accrued expenses		(414)
Deferred revenue		(60)
Lease liabilities		(1,523)
Net assets acquired		14,543
Contech Medical, Inc [Member] | Customer Contracts and Relationships [Member]
Customer Contracts & Relationships		3,043
Contech Medical, Inc [Member] | Intellectual Property [Member]
Customer Contracts & Relationships		2,247
Contech Medical, Inc [Member] | Noncompete Agreements [Member]
Customer Contracts & Relationships		$ 86
DAS Medical [Member]
Cash paid at closing	$ 95,000
Contingent liability (Earn-out)	5,188
Cash from Contech	(8,316)
Total consideration	100,727
Accounts receivable	2,351
Inventory	7,978
Other current assets	68
Property, plant and equipment	3,314
Lease right of use assets	1,221
Goodwill	51,789
Total identifiable assets	110,528
Accounts payable	(5,238)
Accrued expenses	(3,336)
Deferred revenue	(6)
Lease liabilities	(1,221)
Net assets acquired	100,727
Non-Compete agreements	8,855
DAS Medical [Member] | Customer Contracts and Relationships [Member]
Customer Contracts & Relationships	36,730
DAS Medical [Member] | Intellectual Property [Member]
Customer Contracts & Relationships	2,380
DAS Medical [Member] | Noncompete Agreements [Member]
Customer Contracts & Relationships	$ 4,697

Note 2 - Acquisition - Pro Form

Note 2 - Acquisition - Pro Forma Information (Unaudited) (Details) - Contech Medical, Inc and DAS Medical [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Sales	$ 269,932	$ 235,328
Operating Income	25,525	22,264
Net Income	$ 20,296	$ 18,087
Basic (in dollars per share)	$ 2.67	$ 2.42
Diluted (in dollars per share)	$ 2.70	$ 2.39

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred Revenue [Member]
Contract with Customer, Liability, Revenue Recognized	$ 0.8	$ 1.7

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Revenue Disaggregated by the Major Types of Goods and Services Sold (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Net sales	$ 56,343	$ 50,723	$ 50,655	$ 48,599	$ 45,153	$ 43,299	$ 42,644	$ 48,277	$ 206,320	$ 179,373	[1]	$ 198,381
Product [Member]
Net sales									201,248	172,299		193,016
Tooling and Machinery [Member]
Net sales									1,814	2,787		2,730
Engineering and Development [Member]
Net sales									$ 3,258	$ 4,287		$ 2,635
[1]	Certain amounts for the three and nine months ended September 30, 2021 were reclassified between markets to conform to the current period presentation.

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred revenue	$ 1,887	$ 2,574
Acquired in business combinations	69	0
Increases due to consideration received from customers	4,007	2,673
Revenue recognized	(1,716)	(3,360)
Deferred revenue	4,247	1,887
Unbilled Receivables - beginning of period	271	72
Increases due to revenue recognized, not invoiced to customers	1,815	3,147
Decreases due to customer invoicing	(2,012)	(2,948)
Unbilled Receivables - end of period	$ 74	$ 271

Note 4 - Supplemental Cash Fl_3

Note 4 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid for:
Interest	$ 53	$ 71	$ 664
Income taxes, net of refunds	5,914	2,481	1,255
Non-cash investing and financing activities:
Capital additions accrued but not yet paid	135	225	213
Accrued contingent consideration	9,731	0	0
Present value of non-competition payments	8,855	0	0
Operating lease right of use assets	5,299	0	0
Operating lease liabilities	$ 5,299	$ 0	$ 0

Note 5 - Receivables and Allo_3

Note 5 - Receivables and Allowance for Credit Losses - Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts receivable–trade	$ 39,903	$ 26,912
Less allowance for credit losses	(519)	(484)
Receivables, net	$ 39,384	$ 26,428

Note 5 - Receivables and Allo_4

Note 5 - Receivables and Allowance for Credit Losses - Summary of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance - beginning of period	$ 484	$ 486
Provision for (reversal of) expected credit losses	179	13
Amounts written off against the allowance, net of recoveries	(144)	(15)
Allowance - end of period	$ 519	$ 484

Note 6 - Inventories - Summary

Note 6 - Inventories - Summary of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Raw materials	$ 22,184	$ 12,229
Work in process	4,205	1,991
Finished goods	7,047	4,422
Total Inventory	$ 33,436	$ 18,642

Note 7 - Other Intangible Ass_3

Note 7 - Other Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amortization of Intangible Assets, Total	$ 1.3	$ 1.3	$ 1.3

Note 7 - Other Intangible Ass_4

Note 7 - Other Intangible Assets - Definite-lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Gross amount	$ 72,567	$ 23,384
Accumulated amortization	(4,982)	(3,666)
Net balance	$ 67,585	$ 19,718
Intellectual Property/ Tradename and Brand [Member]
Weighted-average amortization period (years) (Year)	11 years 10 months 24 days
Gross amount	$ 4,994
Accumulated amortization	(175)
Net balance	$ 4,819
Trade Name and Brand [Member]
Weighted-average amortization period (years) (Year)		10 years
Gross amount		$ 367
Accumulated amortization		(107)
Net balance		$ 260
Noncompete Agreements [Member]
Weighted-average amortization period (years) (Year)	9 years 6 months	5 years
Gross amount	$ 5,245	$ 462
Accumulated amortization	(365)	(270)
Net balance	$ 4,880	$ 192
Customer Lists [Member]
Weighted-average amortization period (years) (Year)	20 years	20 years
Gross amount	$ 62,328	$ 22,555
Accumulated amortization	(4,442)	(3,289)
Net balance	$ 57,886	$ 19,266

Note 7 - Other Intangible Ass_5

Note 7 - Other Intangible Assets - Future Amortization of Intangible Assets (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022	$ 4,118
2023	4,033
2024	4,026
2025	4,026
2026	4,023
Thereafter	47,359
Total	$ 67,585

Note 8 - Property, Plant and _3

Note 8 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation, Depletion and Amortization, Nonproduction, Total	$ 7.1	$ 7	$ 6.9

Note 8 - Property, Plant and _4

Note 8 - Property, Plant and Equipment - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment	$ 126,837	$ 118,388
Less accumulated depreciation and amortization	(70,268)	(64,633)
Net property, plant and equipment	56,569	53,755
Land and Land Improvements [Member]
Property, plant and equipment	3,191	3,191
Building and Building Improvements [Member]
Property, plant and equipment	36,234	36,017
Leasehold Improvements [Member]
Property, plant and equipment	4,859	3,160
Machinery and Equipment [Member]
Property, plant and equipment	72,963	67,880
Furniture, Fixtures, and Computers [Member]
Property, plant and equipment	6,052	6,135
Construction in Progress [Member]
Property, plant and equipment	$ 3,538	$ 2,005

Note 9 - Indebtedness (Details

Note 9 - Indebtedness (Details Textual) - USD ($)	Dec. 22, 2021	Feb. 01, 2018	Dec. 31, 2021	Dec. 31, 2020
Long-term Debt, Total			$ 75,000,000
Interest Rate Swap [Member]
Derivative, Notional Amount		$ 20,000,000	8,571,424
Derivative, Term of Contract (Year)		5 years
Derivative, Fixed Interest Rate		2.70%
Interest Rate Swap [Member] | Other Nonoperating Income (Expense) [Member]
Derivative, Gain (Loss) on Derivative, Net, Total			24,000	$ (366,000)
Other Current Liabilities [Member] | Interest Rate Swap [Member]
Derivative, Fair Value, Net, Total			(176,000)
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member]
Debt Instrument, Face Amount	$ 130,000,000
Long-term Debt, Total			75,000,000
Letters of Credit Outstanding, Amount			$ 700,000
Debt Instrument, Interest Rate, Effective Percentage			1.58%
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Prepaid Expenses [Member]
Debt Issuance Costs, Net, Total			$ 161,000
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Bloomberg Short-term Bank Yield Index Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Bloomberg Short-term Bank Yield Index Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Secured Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 90,000,000
Subsidiary Guarantors [Member] | Second Amended and Restated Credit Agreement [Member] | Secured Term Loan [Member]
Debt Instrument, Face Amount	40,000,000
Debt Instrument, Periodic Payment, Principal	$ 1,000,000

Note 9 - Indebtedness - Long-te

Note 9 - Indebtedness - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Total long-term debt	$ 75,000
Current portion	(4,000)	$ 0
Long-term debt, excluding current portion	71,000	$ 0
Term Loan [Member]
Total long-term debt	40,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Total long-term debt	$ 35,000

Note 9 - Indebtedness - Future

Note 9 - Indebtedness - Future Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022	$ 4,000
2023	4,000
2024	4,000
2025	4,000
2026	59,000
Long-term Debt, Total	75,000
Line of Credit [Member] | Revolving Credit Facility [Member]
2022	0
2023	0
2024	0
2025	0
2026	35,000
Long-term Debt, Total	35,000
Term Loan [Member]
2022	4,000
2023	4,000
2024	4,000
2025	4,000
2026	24,000
Long-term Debt, Total	$ 40,000

Note 10 - Accrued Expenses - Ac

Note 10 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Compensation	$ 4,878	$ 2,443
Benefits / self-insurance reserve	414	921
Paid time off	1,620	1,538
Short-term portion of deferred payroll tax	905	810
Other	4,883	2,232
Accrued expenses	$ 12,700	$ 7,944

Note 11 - Income Tax (Details T

Note 11 - Income Tax (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Gross, Total	$ 7,282	$ 2,917
Deferred Tax Assets, Valuation Allowance, Total	17	$ 64
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (47)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Unrecognized Tax Benefits, Ending Balance	$ 0	$ 0
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year	2016 2017 2018 2019
State and Local Jurisdiction [Member]
Open Tax Year	2016 2017 2018 2019
One State Jurisdiction [Member]
Tax Credit Carryforward, Amount	$ 75

Note 11 - Income Tax - Income T

Note 11 - Income Tax - Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal	$ 5,793	$ 2,223	$ 2,920
State	1,320	555	184
Current income taxes	7,113	2,778	3,104
Federal	(1,399)	(28)	485
State	(395)	164	307
Deferred income taxes	(1,794)	136	792
Total income tax provision	$ 5,319	$ 2,914	$ 3,896

Note 11 - Income Tax - Deferred

Note 11 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Reserves	$ 380	$ 351
Inventory capitalization	706	550
Compensation programs	1,842	802
Equity-based compensation	668	524
Lease liability	2,427	567
Intangible assets	877	0
Deferred revenue	365
Other	17	123
Gross deferred tax assets	7,282	2,917
Valuation allowance	(17)	(64)
Net deferred tax assets	7,265	2,853
Excess of book over tax basis of fixed assets	(4,481)	(4,527)
Goodwill	(3,628)	(2,795)
Right of use asset	(2,419)	(554)
Intangible assets	0	(34)
Total deferred tax liabilities	(10,528)	(7,910)
Net long-term deferred tax liabilities	$ (3,263)	$ (5,057)

Note 11 - Income Tax - Income_2

Note 11 - Income Tax - Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Computed “expected” tax rate	21.00%	21.00%	21.00%
State taxes, net of federal tax benefit	4.00%	4.20%	1.80%
Meals and entertainment	0.00%	0.10%	0.20%
Tax credits	(1.70%)	(7.20%)	(6.20%)
Return to provision adjustments	0.70%	0.00%	0.00%
Unrecognized tax benefits	0.00%	0.00%	(0.70%)
Excess tax benefits on equity awards	0.00%	(1.20%)	(0.70%)
Excess compensation	0.70%	0.80%	0.60%
Other	0.60%	0.20%	0.40%
Change in valuation allowance	(0.20%)	0.00%	0.10%
Effective tax rate	25.10%	17.90%	16.50%

Note 12 - Net Income Per Shar_2

Note 12 - Net Income Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	10,716	14,892	16,536

Note 12 - Net Income Per Shar_3

Note 12 - Net Income Per Share - Weighted Average Number of Shares Used to Compute Net EPS (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basic weighted average common shares outstanding during the year (in shares)	7,524	7,484	7,424
Weighted average common equivalent shares due to stock options and restricted stock units (in shares)	91	84	92
Diluted weighted average common shares outstanding during the year (in shares)	7,615	7,568	7,516

Note 13 - Share-based Compens_3

Note 13 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Proceeds from Stock Options Exercised	$ 162	$ 474	$ 705
Share-based Payment Arrangement [Member]
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	780	734	653
Employee and Nonemployee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	200	800	1,000
Proceeds from Stock Options Exercised	$ 200	$ 500	$ 700
Shares Paid for Exercise Price and Tax Withholding for Share Based Compensation (in shares)	0	0	0
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)	14,190	11,423	8,341
Shares Paid for Tax Withholding for Share Based Compensation Market Price (in dollars per share)	$ 52.55	$ 49.91	$ 33.69

Note 13 - Share-based Compens_4

Note 13 - Share-based Compensation - Compensation Cost (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation	$ 2,428	$ 1,807	$ 1,591
Common Stock [Member]
Share-based compensation	400	400	400
Employee and Nonemployee Stock Option [Member]
Share-based compensation	210	232	151
Restricted Stock Units (RSUs) [Member]
Share-based compensation	$ 1,818	$ 1,175	$ 1,040

Note 13 - Share-based Compens_5

Note 13 - Share-based Compensation - Black-Scholes Option Pricing Model (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expected volatility	33.70%	32.80%	28.90%
Expected dividends	0.00%	0.00%	0.00%
Risk-free interest rate	0.80%	0.30%	2.30%
Exercise price (in dollars per share)	$ 57.34	$ 43.95	$ 38.61
Expected term (years) (Year)	6 years 2 months 12 days	6 years 1 month 6 days	6 years
Weighted-average grant date fair value (in dollars per share)	$ 19.60	$ 14.10	$ 12.70

Note 13 - Share-based Compens_6

Note 13 - Share-based Compensation - Summary of Stock Option Activity (Details) - Employee and Nonemployee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021
Outstanding, shares under options (in shares)	94,513
Outstanding, weighted average exercise price (in dollars per share)	$ 30.22
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	10,716
Granted (in dollars per share)	$ 57.34
Exercised, shares under options (in shares)	(6,558)
Granted, weighted average exercise price (in dollars per share)	$ 24.77
Outstanding, shares under options (in shares)	98,671
Outstanding, weighted average exercise price (in dollars per share)	$ 33.53
Outstanding, weighted average remaining contractual life (Year)	5 years 9 months 21 days
Outstanding, aggregate intrinsic value	$ 3,624
Exercisable, shares under options (in shares)	87,955
Exercisable, weighted average exercise price (in dollars per share)	$ 30.63
Exercisable, weighted average remaining contractual life (Year)	5 years 4 months 13 days
Exercisable, aggregate intrinsic value	$ 3,486
Vested and expected to vest, shares under options (in shares)	98,671
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 33.53
Vested and expected to vest, weighted average remaining contractual life (Year)	5 years 9 months 21 days
Vested and expected to vest, aggregate intrinsic value	$ 3,624

Note 13 - Share-based Compens_7

Note 13 - Share-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Outstanding, restricted stock units (in shares) | shares	93,187
Outstanding, weighted average award date fair value (in dollars per share) | $ / shares	$ 35.03
Awarded, restricted stock units (in shares) | shares	48,483
Awarded, weighted average award date fair value (in dollars per share) | $ / shares	$ 50.12
Shares vested, restricted stock units (in shares) | shares	(39,214)
Shares vested, weighted average award date fair value (in dollars per share) | $ / shares	$ 32.86
Forfeitures, restricted stock unit (in shares) | shares	(1,288)
Forfeitures, weighted average award date fair value (in dollars per share) | $ / shares	$ 49.21
Outstanding, restricted stock units (in shares) | shares	101,168
Outstanding, weighted average award date fair value (in dollars per share) | $ / shares	$ 41.78

Note 13 - Share-based Compens_8

Note 13 - Share-based Compensation - Future Share-based Compensation Expense (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022	$ 1,411
2023	898
2024	116
Total	2,425
Employee and Nonemployee Stock Option [Member]
2022	41
2023	0
2024	0
Total	41
Restricted Stock Units (RSUs) [Member]
2022	1,370
2023	898
2024	116
Total	$ 2,384

Note 14 - Leases (Details Textu

Note 14 - Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Expense	$ 1.4	$ 1.3	$ 1.2

Note 14 - Leases - Lease Cost (

Note 14 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease Cost:
Amortization of right of use assets	$ 27	$ 10
Interest expense on finance leases	3	2	$ 0
Operating lease cost	1,263	1,207
Variable lease cost	263	215
Short-term lease cost	43	28
Total lease cost	1,599	1,462
Operating cash flows from operating leases	1,284	1,212
Financing cash flows from finance leases	29	11	$ 0
ROU assets obtained in exchange for finance lease obligations	$ 198	$ 110
Finance (Year)	4 years 6 months 14 days
Operating (Year)	3 years 11 months 12 days	1 year 9 months 10 days
Finance	2.10%	2.26%
Operating	2.63%	4.37%

Note 14 - Leases - Aggregate Fu

Note 14 - Leases - Aggregate Future Lease Payments (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022, finance	$ 63
2022, operating	2,212
2023, finance	63
2023, operating	1,297
2024, finance	63
2024, operating	1,230
2025, finance	63
2025, operating	1,100
2026, finance	29
2026, operating	831
Thereafter, finance	6
Thereafter, operating	3,298
Total lease payments, finance	287
Total lease payments, operating	9,968
Less: Interest, finance	(14)
Less: Interest, operating	(884)
Present value of lease liabilities, finance	273
Present value of lease liabilities, operating	$ 9,084

Note 15 - Other Long-term Lia_3

Note 15 - Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accrued contingent consideration (earn-out)	$ 9,731	$ 0
Present value of non-competition payments	8,855	0	$ 0
Other	676	1,271
Other Liabilities, Noncurrent, Total	$ 19,262	$ 1,271

Note 17 - Employee Benefit Pl_2

Note 17 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan, Cost	$ 600	$ 900	$ 1,000
Self-insured Health Insurance Program, Stop Loss Amount	225
Deferred Compensation Liability, Classified, Noncurrent, Total	4,337	3,810
Assets for Plan Benefits, Defined Benefit Plan	$ 4,300	$ 3,700

Note 18 - Fair Value of Finan_3

Note 18 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	Dec. 22, 2021	Dec. 31, 2021
Contech Medical, Inc and DAS Medical [Member]
Business Combination, Consideration Transferred, Liabilities Incurred		$ 25,000
Business Combination, Contingent Consideration, Liability, Total		$ 9,700
DAS Medical [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 5,188
Payments to Acquire Businesses, Gross	95,000
Present Value of Non-competition Agreement	8,900
DAS Medical [Member] | Non-Competition Agreements [Member]
Payments to Acquire Businesses, Gross	$ 10,000
Business Combination, Agreement Term (Year)	10 years

Note 18 - Fair Value of Finan_4

Note 18 - Fair Value of Financial Instruments - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 2 [Member]
Derivative financial instruments	$ 176	$ 465
Fair Value, Inputs, Level 3 [Member]
Accrued contingent consideration (earn-out)	9,731	0
Present value of non-competition payments	$ 8,855	$ 0

Note 19 - Segment Data (Details

Note 19 - Segment Data (Details Textual)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Operating Segments	1
Number of Reportable Segments	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	0	0	0
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers	1	1
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member]
Concentration Risk, Percentage	9.60%	13.30%

Note 19 - Segment Data - Net Sa

Note 19 - Segment Data - Net Sales by Market (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	[1]	Dec. 31, 2019
Net sales	$ 56,343	$ 50,723	$ 50,655	$ 48,599	$ 45,153	$ 43,299	$ 42,644	$ 48,277	$ 206,320	$ 179,373		$ 198,381
Percentage of concentration risk									100.00%	100.00%		100.00%
Medical [Member]
Net sales									$ 132,520	$ 120,258		$ 128,915
Percentage of concentration risk									64.20%	67.20%		65.10%
Consumer [Member]
Net sales									$ 26,048	$ 18,316		$ 17,669
Percentage of concentration risk									12.60%	10.20%		8.90%
Aerospace & Defense [Member]
Net sales									$ 16,103	$ 12,810		$ 13,778
Percentage of concentration risk									7.80%	7.10%		6.90%
Automotive [Member]
Net sales									$ 15,596	$ 14,607		$ 20,004
Percentage of concentration risk									7.60%	8.10%		10.10%
Industrial [Member]
Net sales									$ 8,661	$ 7,622		$ 9,607
Percentage of concentration risk									4.20%	4.20%		4.80%
Electronics [Member]
Net sales									$ 7,392	$ 5,760		$ 8,408
Percentage of concentration risk									3.60%	3.20%		4.20%
[1]	Certain amounts for the three and nine months ended September 30, 2021 were reclassified between markets to conform to the current period presentation.

Note 20 - Quarterly Financial_3

Note 20 - Quarterly Financial Information (Unaudited) - Summarized Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Net sales	$ 56,343	$ 50,723	$ 50,655	$ 48,599	$ 45,153	$ 43,299	$ 42,644	$ 48,277	$ 206,320	$ 179,373	[1]	$ 198,381
Gross profit	13,075	12,016	13,414	12,609	11,384	10,528	9,949	12,823	$ 51,114	$ 44,684		$ 53,959
Net income	$ 3,219	$ 3,789	$ 4,715	$ 4,163	$ 4,172	$ 2,988	$ 2,318	$ 3,891
Basic net income per share (in dollars per share)	$ 0.43	$ 0.50	$ 0.63	$ 0.55	$ 0.56	$ 0.40	$ 0.31	$ 0.52	$ 2.11	$ 1.79		$ 2.66
Diluted net income per share (in dollars per share)	$ 0.42	$ 0.50	$ 0.62	$ 0.55	$ 0.55	$ 0.40	$ 0.31	$ 0.52	$ 2.09	$ 1.77		$ 2.63
[1]	Certain amounts for the three and nine months ended September 30, 2021 were reclassified between markets to conform to the current period presentation.

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Balance at beginning of year	$ 484	$ 486	$ 564
Provision for (reversal of) bad debt	179	13	(52)
Write-offs, net of recoveries	(144)	(15)	(26)
Balance at end of year	$ 519	$ 484	$ 486