UFP (UFPT) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-12648
Entity Registrant Name	UFP Technologies, Inc.
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
City Area Code	978
Local Phone Number	352-2200
Title of 12(b) Security	Common Stock
Trading Symbol	UFPT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		7,674,363
Entity Central Index Key	0000914156
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 16,728	$ 5,263
Receivables, net	60,985	64,449
Inventories	77,976	70,191
Prepaid expenses and other current assets	4,296	3,433
Refundable income taxes	2,176	1,297
Total current assets	162,161	144,633
Property, plant and equipment, net	63,736	62,137
Goodwill	115,616	113,263
Intangible assets, net	62,382	64,116
Non-qualified deferred compensation plan	5,792	5,323
Right of use assets	12,223	13,588
Deferred income taxes	72	607
Other assets	414	469
Total assets	422,396	404,136
Current liabilities:
Accounts payable	22,966	22,286
Accrued expenses	20,731	22,085
Deferred revenue	4,552	6,616
Lease liabilities	3,280	3,222
Income taxes payable	258	0
Current portion of long-term debt	0	4,000
Total current liabilities	51,787	58,209
Long-term debt, excluding current installments	35,200	28,000
Deferred income taxes	182	428
Non-qualified deferred compensation plan	5,818	5,412
Lease liabilities	9,473	10,815
Other liabilities	9,760	15,181
Total liabilities	112,220	118,045
Commitments and Contingencies
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; 7,703,922 and 7,674,363 shares issued and outstanding, respectively, at June 30, 2024; 7,669,339 and 7,639,780 shares issued and outstanding, respectively, at December 31, 2023	77	76
Additional paid-in capital	37,418	38,814
Retained earnings	273,765	247,520
Accumulated other comprehensive (loss) income	(497)	268
Treasury stock at cost, 29,559 shares at June 30, 2024 and 29,559 shares at December 31, 2023	(587)	(587)
Total stockholders’ equity	310,176	286,091
Total liabilities and stockholders' equity	$ 422,396	$ 404,136

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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)	7,703,922	7,669,339
Common stock, shares outstanding (in shares)	7,674,363	7,639,780
Treasury Stock, Common, Shares (in shares)	29,559	29,559

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 110,177	$ 100,037	$ 215,186	$ 197,790
Cost of sales	77,146	70,392	152,072	139,444
Gross profit	33,031	29,645	63,114	58,346
Selling, general & administrative expenses	13,900	12,299	27,812	25,306
Acquisition costs	943	0	943	0
Change in fair value of contingent consideration	238	198	476	3,051
(Gain) loss on sale of property, plant & equipment	(1)	106	7	107
Operating income	17,951	17,042	33,876	29,882
Interest expense, net	577	1,089	1,208	1,958
Other expenses (income)	2	(20)	(39)	56
Income before income tax expense	17,372	15,973	32,707	27,868
Income tax expense	3,820	4,090	6,462	6,246
Net income	$ 13,552	$ 11,883	$ 26,245	$ 21,622
Net income per share:
Basic (in dollars per share)	$ 1.77	$ 1.56	$ 3.43	$ 2.84
Diluted (in dollars per share)	$ 1.75	$ 1.55	$ 3.38	$ 2.81
Weighted average common shares outstanding:
Basic (in shares)	7,672	7,625	7,662	7,608
Diluted (in shares)	7,753	7,690	7,756	7,689
Comprehensive Income
Net Income	$ 13,552	$ 11,883	$ 26,245	$ 21,622
Other comprehensive income:
Foreign currency translation adjustment	(181)	41	(764)	534
Other comprehensive gain (loss)	(181)	41	(764)	534
Comprehensive income	$ 13,371	$ 11,924	$ 25,481	$ 22,156

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Balance (in shares) at Dec. 31, 2022	7,582				30
Balance at Dec. 31, 2022	$ 76	$ 36,070	$ 202,596	$ (610)	$ (587)	$ 237,545
Share-based compensation (in shares)	49				0
Share-based compensation	$ 0	1,056	0	0	$ 0	1,056
Exercise of stock options (in shares)	3				0
Exercise of stock options	$ 0	0	0	0	$ 0	0
Net share settlement of restricted stock units (in shares)	(21)				0
Net share settlement of restricted stock units	$ 0	(2,413)	0	0	$ 0	(2,413)
Other comprehensive income	$ 0	0	0	493		493
Net Income		0	9,739		$ 0	9,739
Issuance of common stock (in shares)	0				0
Issuance of common stock	$ 0	64	0	0	$ 0	64
Balance (in shares) at Mar. 31, 2023	7,613				30
Balance at Mar. 31, 2023	$ 76	34,777	212,335	(117)	$ (587)	246,484
Balance (in shares) at Dec. 31, 2022	7,582				30
Balance at Dec. 31, 2022	$ 76	36,070	202,596	(610)	$ (587)	237,545
Other comprehensive income						534
Net Income						21,622
Balance (in shares) at Jun. 30, 2023	7,639				30
Balance at Jun. 30, 2023	$ 76	36,654	224,218	(76)	$ (587)	260,285
Balance (in shares) at Mar. 31, 2023	7,613				30
Balance at Mar. 31, 2023	$ 76	34,777	212,335	(117)	$ (587)	246,484
Share-based compensation (in shares)	4				0
Share-based compensation	$ 0	1,197	0	0	$ 0	1,197
Exercise of stock options (in shares)	22				0
Exercise of stock options	$ 0	680	0	0	$ 0	680
Other comprehensive income	0	0	0	41	0	41
Net Income	$ 0	0	11,883	0	$ 0	11,883
Balance (in shares) at Jun. 30, 2023	7,639				30
Balance at Jun. 30, 2023	$ 76	36,654	224,218	(76)	$ (587)	260,285
Balance (in shares) at Dec. 31, 2023	7,640				30
Balance at Dec. 31, 2023	$ 76	38,814	247,520	268	$ (587)	286,091
Share-based compensation (in shares)	48				0
Share-based compensation	$ 1	1,512	0	0	$ 0	1,513
Exercise of stock options (in shares)	4				0
Exercise of stock options	$ 0	54	0	0	$ 0	54
Net share settlement of restricted stock units (in shares)	(22)				0
Net share settlement of restricted stock units	$ 0	(4,751)	0	0	$ 0	(4,751)
Other comprehensive income	$ 0	0	0	(584)	0	(584)
Net Income		0	12,693	0	$ 0	12,693
Balance (in shares) at Mar. 31, 2024	7,670				30
Balance at Mar. 31, 2024	$ 77	35,629	260,213	(316)	$ (587)	295,016
Balance (in shares) at Dec. 31, 2023	7,640				30
Balance at Dec. 31, 2023	$ 76	38,814	247,520	268	$ (587)	286,091
Other comprehensive income						(764)
Net Income						26,245
Balance (in shares) at Jun. 30, 2024	7,674				30
Balance at Jun. 30, 2024	$ 77	37,418	273,765	(497)	$ (587)	310,176
Balance (in shares) at Mar. 31, 2024	7,670				30
Balance at Mar. 31, 2024	$ 77	35,629	260,213	(316)	$ (587)	295,016
Share-based compensation (in shares)	2				0
Share-based compensation	$ 0	1,736	0	0	$ 0	1,736
Exercise of stock options (in shares)	2				0
Exercise of stock options	$ 0	53	0	0	$ 0	53
Other comprehensive income	$ 0	0	0	(181)	0	(181)
Net Income		0	13,552	0	$ 0	13,552
Balance (in shares) at Jun. 30, 2024	7,674				30
Balance at Jun. 30, 2024	$ 77	$ 37,418	$ 273,765	$ (497)	$ (587)	$ 310,176

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 26,245	$ 21,622
Adjustments to reconcile net income to net cash provided byoperating activities:
Depreciation and amortization	6,031	5,607
Loss on disposal of property, plant & equipment	7	107
Share-based compensation	3,249	2,253
Deferred income taxes	304	(466)
Change in fair value of contingent consideration	476	3,051
Changes in operating assets and liabilities:
Receivables, net	4,230	(8,807)
Inventories	(7,349)	(9,448)
Prepaid expenses and other current assets	(1,010)	(1,395)
Other assets	951	1,202
Accounts payable	700	4,862
Accrued expenses	(2,053)	(6,197)
Deferred revenue	(2,064)	(415)
Income taxes payable	(398)	(1,470)
Non-qualified deferred compensation plan and other liabilities	(6,951)	94
Net cash provided by operating activities	22,368	10,600
Cash flows from investing activities:
Acquisition of Marble Medical, net of cash acquired	(4,612)	0
Additions to property, plant, and equipment	(4,503)	(4,951)
Proceeds from sale of fixed assets	2	4
Net cash used in investing activities	(9,113)	(4,947)
Cash flows from financing activities:
Proceeds from advances on revolving line of credit	45,200	9,000
Payments on revolving line of credit	(10,000)	(5,000)
Principal payments of long-term debt	(32,000)	(2,000)
Payment of contingent consideration	(188)	(5,000)
Principal payments on finance lease obligations	(41)	(32)
Proceeds from the exercise of stock options	107	680
Payment of statutory withholdings for restricted stock units vested	(4,751)	(2,413)
Net cash used in financing activities	(1,673)	(4,765)
Effect of foreign currency exchange rates on cash and cash equivalents	(117)	(48)
Net increase in cash and cash equivalents	11,465	840
Cash and cash equivalents at beginning of period	5,263	4,451
Cash and cash equivalents at end of period	$ 16,728	$ 5,291

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	(1) Basis of Presentation The interim condensed consolidated financial statements of UFP Technologies, Inc. (the “Company”) presented herein, have been prepared pursuant to the rules of the Securities and Exchange Commission for quarterly reports on Form 10-Q and do not include all the information and note disclosures required by accounting principles generally accepted in the United States of America. These statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2023, included in the Company's 2023 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission. The condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, the condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2024 and 2023, the condensed consolidated statements of stockholders’ equity for the three and six months ended June 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are unaudited but, in the opinion of management, include all adjustments (consisting of normal, recurring adjustments) necessary for a fair presentation of results for these interim periods. The condensed consolidated balance sheet as of December 31, 2023 has been derived from the Company’s annual financial statements that were audited by an independent registered public accounting firm but does not include all of the information and footnotes required for complete annual financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three- and six-month periods ended June 30, 2024 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2024. Recent Accounting Pronouncements There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements.

Note 2 - Acquisition

Note 2 - Acquisition	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	(2) Acquisition On June 24, 2024, the Company purchased 100% of the outstanding shares of common stock of Marble Medical, Inc., (“Marble”) pursuant to a stock purchase agreement and related agreements, for an aggregate purchase price of $4.5 million in cash, plus up to an additional $0.5 million based upon the achievement of sales targets of Marble for each of the 12-month periods ended December 31, 2024, and 2025. The purchase price was subject to adjustment based upon Marble’s working capital at closing, and further adjustment when the final working capital is determined. A portion of the purchase price is being held by the Company to indemnify the Company against certain claims, losses, and liabilities. The Purchase Agreement contains customary representations, warranties, and covenants customary for transactions of this type. Founded in 1988 and headquartered in Tallahassee, FL, Marble Medical develops and manufactures adhesive based medical components and single-use devices. The purchase price includes certain real estate, which encompasses Marble’s manufacturing, warehouse and office facilities. Acquisition costs associated with the transaction were approximately $145 thousand which was charged to expense in the three- and six-month periods ended June 30, 2024. These costs were primarily for legal and valuation services, which are reflected on the face of the Condensed Consolidated Statements of Comprehensive Income. As the revenues, earnings, balance sheet, and pro forma effects of the Marble acquisition are not, and would not have been, material to the results of operations or financial position of the Company, the Company has elected to not disclose substantially all required disclosures of Accounting Standards Codification 805, Business Combinations

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	(3) 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 which include (1) identifying the contract with a customer, (2) identifying separate performance obligations within the contract, (3) determining the transaction price, (4) allocating the transaction price to the performance obligations, and (5) recognizing revenue. The Company recognizes all but an immaterial portion of its product sales upon shipment. The Company recognizes revenue from the sale of tooling and machinery primarily upon customer acceptance. The Company recognizes revenue from engineering services, which are primarily product development services, as the services are performed or as otherwise determined based on the substance of the agreement. The Company recognizes revenue from bill-and-hold transactions at the time the specified goods are complete and available to the customer. Standard payment terms are net 30 days unless contract terms state otherwise. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. We do not assess whether a significant financing component exists if the period between when we perform our obligations under the contract and when the customer pays is one year or less. In the ordinary course of business, the Company accepts sales returns from customers for defective goods, such amounts being immaterial. Although only applicable to an insignificant number of transactions, the Company has elected to exclude sales taxes from the transaction price. The Company has elected to account for shipping and handling activities for which the Company is responsible under the terms and conditions of the sale not as performance obligations but rather as fulfillment costs. These activities are required to fulfill the Company’s promise to transfer the goods and are expensed when revenue is recognized. Variable consideration to be included in the transaction price is estimated using either the expected value method or the most likely method based on facts and circumstances. Variable consideration is included in the transaction price if it is probable that a significant future reversal of cumulative revenue under the contract will not occur. The Company has elected to not disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations, as the Company’s contracts have an original expected duration of one year or less, or revenue has been recognized at the amount for which the Company has the right to invoice for engineering services performed. Disaggregated Revenue The following table presents the Company’s revenue disaggregated by the major types of goods and services sold to the Company’s customers (in thousands) (See Note 12 for further information regarding net sales by market): Three Months Ended Six Months Ended June 30, June 30, Net sales of: 2024 2023 2024 2023 Products $ 105,248 $ 98,660 $ 208,517 $ 193,352 Tooling and Machinery 3,292 259 4,557 1,553 Engineering services 1,637 1,118 2,112 2,885 Total net sales $ 110,177 $ 100,037 $ 215,186 $ 197,790 Contract balances The timing of revenue recognition may differ from the timing of invoicing to customers. When invoicing occurs prior to revenue recognition, the Company has contract liabilities included within “deferred revenue” on the condensed consolidated balance sheets. The following table presents a roll-forward of contract liabilities activity for the six-month periods ended June 30, 2024 and 2023 (in thousands): Contract Liabilities Six Months Ended 2024 2023 Deferred revenue - beginning of period $ 6,616 $ 4,679 Increases due to consideration received from customers 1,238 2,151 Revenue recognized (3,302 ) (2,564 ) Deferred revenue - end of period $ 4,552 $ 4,266 Revenue recognized during the six-month periods ended June 30, 2024 and 2023 from amounts included in deferred revenue at the beginning of the period were approximately $3.0 million and $2.0 million, respectively. When invoicing occurs after revenue recognition, the Company has contract assets, included within “receivables, net” on the condensed consolidated balance sheets. The following table presents opening and closing balances of contract assets for the six-month periods ended June 30, 2024 and 2023 (in thousands): Contract Assets Six Months Ended 2024 2023 Unbilled Receivables - beginning of period $ 114 $ 270 Increases due to revenue recognized, not invoiced to customers 1,121 2,070 Decreases due to customer invoicing (1,053 ) (2,047 ) Unbilled Receivables - end of period $ 182 $ 293

Note 4 - Supplemental Cash Flow

Note 4 - Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	(4) Supplemental Cash Flow Information Supplemental cash flow information consists of the following (in thousands): Six Months Ended June 30, 2024 2023 Cash paid for: Interest $ 1,228 $ 1,912 Income taxes, net of refunds 5,735 8,112 Non-cash investing and financing activities: Capital additions accrued but not yet paid $ 102 $ 218 Operating lease right of use assets 83 1,524 Operating lease liabilities (83 ) (1,560 ) Financing lease right of use assets 35 - Financing lease liablities 58 -

Note 5 - Receivables and Allowa

Note 5 - Receivables and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2024
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): June 30, December 31, December 31, 2024 2023 2022 Accounts receivable–trade $ 61,802 $ 65,176 $ 55,850 Less allowance for credit losses (817 ) (727 ) (733 ) Receivables, net $ 60,985 $ 64,449 $ 55,117 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 be collected is based on the aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written-off when determined to be uncollectible. Estimates based on an assessment of anticipated payment and all other historical, current, and future information that is reasonably available are used to determine the allowance. 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 six months ended June 30, 2024 and 2023 (in thousands): Allowance for Credit Six Months Ended 2024 2023 Allowance - beginning of period $ 727 $ 733 Adjustment for expected credit losses 107 (13 ) Amounts written off against the allowance (17 ) (10 ) Recoveries - 8 Allowance - end of period $ 817 $ 718

Note 6 - Fair Value of Financia

Note 6 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	(6) 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): June 30, 2024 December 31, 2023 Level 3 Purchase price contingent consideration: Accrued contingent consideration (earn-out) $ 8,972 $ 13,096 Present value of non-competition payments 6,535 8,474 In connection with the acquisitions of Marble Medical in 2024 and DAS Medical in 2021, the Company is required to make contingent payments, subject to the entities achieving certain financial performance thresholds. The contingent consideration payments for the Marble Medical acquisition and the DAS Medical acquisition are up to $500 thousand and $20 million, respectively. The fair value of the liability for the contingent consideration payments recognized upon the acquisition as part of the purchase accounting opening balance sheets totaled approximately $400 thousand and $9.7 million for the Marble Medical acquisition and the DAS Medical acquisition, respectively, and was estimated by discounting to present value the probability-weighted contingent payments expected to be made. Assumptions used in the initial calculation were management’s financial forecasts, discount rate and various volatility factors. The ultimate settlement of contingent consideration could deviate from current estimates based on the actual results of these financial measures. Contingent consideration is considered to be a Level 3 financial liability that is re-measured each reporting period. The fair value of the liability for the contingent consideration payments recognized at June 30, 2024 totaled approximately $9.0 million out of the remaining potential payments of $10.5 million. The change in fair value of contingent consideration for the acquisition is included in change in fair value of contingent consideration in the condensed consolidated statements of comprehensive income. Also in connection with the DAS Medical and Advant Medical acquisitions, the Company has entered into Non-Competition Agreements with the beneficiaries (certain previous owners of DAS and Advant) 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 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 7 - Share-based Compensati

Note 7 - Share-based Compensation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	(7) Share-Based Compensation Share-based compensation is measured on the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). The Company issues share-based awards through several plans that are described in detail in the notes to the consolidated financial statements for the year ended December 31, 2023. The compensation cost charged against income for those plans is included in selling, general & administrative expenses as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, Share-based compensation related to: 2024 2023 2024 2023 Common stock grants $ 100 $ 100 $ 200 $ 200 Stock option grants 118 113 230 207 Restricted Stock Unit Awards ("RSUs") 1,518 984 2,819 1,846 Total share-based compensation $ 1,736 $ 1,197 $ 3,249 $ 2,253 The total income tax benefit recognized in the condensed consolidated statements of comprehensive income for share-based compensa tion Common Stock Grants The compensation expense for common stock granted during the six-month period ended June 30, 2024, was determined based on the market price of the shares on the date of grant. Stock Option Grants The following is a summary of stock option activity under all plans for the six-month period ended June 30, 2024: Shares Under Options Weighted Average Exercise Price (per share) Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2023 78,488 $ 39.98 Granted 2,958 260.92 Exercised (6,568 ) 32.35 Outstanding at June 30, 2024 74,878 $ 67.37 5.42 $ 14,714 Exercisable at June 30, 2024 67,952 $ 56.36 5.33 $ 14,100 Vested and expected to vest at June 30, 2024 74,878 $ 67.37 5.42 $ 14,714 On June 6, 2024, the Company granted options to its directors for the purchase of 2,958 shares of the Company’s common stock at that day’s closing price of $260.92. The compensation expense related to these grants was determined as the fair value of the options using the Black-Scholes option pricing model based on the following assumptions: Expected volatility 39.7 % Expected dividends None Risk-free interest rate 4.3 % Exercise price $ 260.92 Expected term 6.3 Weighted-average grant date fair value $ 121.61 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 correspond‐ing with the expected term of the option. The expected term is estimated based on historical option exercise activity. During the six-month periods ended June 30, 2024 and 2023, the total intrinsic value of all options exercised (i.e., the difference between the market price and the price paid to exercise the options) was approximately $1.5 million and $3.0 million, respectively, and the total amount of consideration received by the Company from the exercised options was approximately $212 thousand and $789 thousand, respectively. At its discretion, the Company allows option holders to surrender previously owned common stock in lieu of paying the exercise price and withholding taxes. During the six-month period ended June 30, 2024, 653 shares were surrendered at an average market price of $162.93. During the six-month period ended June 30, 2023, 861 shares were surrendered at an average market price of $127.05. Restricted Stock Unit awards The following table summarizes information about RSU activity during the three-month period ended June 30, 2024: Restricted Stock Units Weighted Average Fair Value Outstanding at December 31, 2023 95,693 $ 64.82 Awarded 31,663 175.30 Shares vested (50,582 ) 79.53 Shares forfeited (378 ) 139.55 Outstanding at June 30, 2024 76,396 $ 85.47 At the Company’s discretion, upon vesting, 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 and issued to the RSU holder. During the six-month periods ended June 30, 2024 and 2023, 21,914 shares and 20,457 shares were surrendered at an average market price of $216.80 and $117.95, respectively. As of June 30, 2024, the Company had approximately $8.3 million of unrecognized compensation expense that is expected to be recognized over a period of 2.8 years.

Note 8 - Inventories

Note 8 - Inventories	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	(8) Inventories Inventories are stated at the lower of cost (determined using the first-in, first-out method) or net realizable value, and consist of the following at the stated dates (in thousands): June 30, December 31, 2024 2023 Raw materials $ 56,828 $ 53,539 Work in process 7,817 7,821 Finished goods 13,331 8,831 Total inventory $ 77,976 $ 70,191

Note 9 - Property, Plant and Eq

Note 9 - Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	(9) Property, Plant and Equipment Property, plant, and equipment consist of the following (in thousands): June 30, December 31, 2024 2023 Land and improvements $ 5,015 $ 4,849 Buildings and improvements 35,531 34,735 Leasehold improvements 9,235 8,226 Machinery & equipment 60,966 58,343 Furniture, fixtures, computers & software 6,879 6,324 Construction in progress 7,083 6,845 Property, plant and equipment $ 124,709 $ 119,322 Accumulated depreciation and amortization (60,973 ) (57,185 ) Net property, plant and equipment $ 63,736 $ 62,137

Note 10 - Leases

Note 10 - Leases	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	(10) 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 months or less are not recorded on the balance sheet. The Company accounts for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the right of use (“ROU”) assets or lease liabilities. These are expensed as incurred and recorded as variable lease expense. The Company determines if an arrangement is a lease at the inception of a contract. Operating and finance lease ROU assets and operating and finance lease liabilities are stated separately in the condensed consolidated balance sheet. 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 pursuant to 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 assumed 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 typically provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU assets and lease liabilities consist of the following (in thousands): June 30, December 31, 2024 2023 Operating lease ROU assets $ 12,093 $ 13,437 Finance lease ROU assets 130 151 Total ROU assets $ 12,223 $ 13,588 Operating lease liabilities - current $ 3,165 $ 3,162 Finance lease liabilities - current 115 60 Total lease liabilities - current $ 3,280 $ 3,222 Operating lease liabilities - long-term $ 9,408 $ 10,719 Finance lease liabilities - long-term 65 96 Total lease liabilities - long-term $ 9,473 $ 10,815 The components of lease costs for the six-month periods ended June 30, 2024 and 2023 consist of the following (in thousands): Six Months Ended June 30, 2024 2023 Lease Cost: Finance lease cost: Amortization of right of use assets $ 48 $ 30 Interest on lease liabilities 4 2 Operating lease cost 1,713 1,480 Variable lease cost 160 159 Short-term lease cost 86 14 Total lease cost $ 2,011 $ 1,685 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,682 $ 1,407 Financing cash flows from finance leases 41 32 Weighted-average remaining lease term (years): Finance 1.59 3.04 Operating 3.79 4.81 Weighted-average discount rate: Finance 3.77 % 2.10 % Operating 3.72 % 3.43 % The aggregate future lease payments for leases as of June 30, 2024 are as follows (in thousands): Operating Finance Remainder of 2024 $ 1,687 $ 118 2025 3,030 52 2026 2,667 14 2027 2,303 - 2028 1,190 - Thereafter 2,828 - Total lease payments 13,705 184 Less: Interest (1,132 ) (4 ) Present value of lease liabilities $ 12,573 $ 180

Note 11 - Income Per Share

Note 11 - Income Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	(11) Income Per Share Basic income per share is based on the weighted average number of shares of common stock outstanding. Diluted income per share is based upon the weighted average number of common shares outstanding and dilutive common stock equivalent shares outstanding during each period. The weighted average number of shares used to compute basic and diluted net income per share consisted of the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Basic weighted average common shares outstanding 7,672 7,625 7,662 7,608 Weighted average common equivalent shares due to restricted stock, stock options and RSUs 81 65 94 81 Diluted weighted average common shares outstanding 7,753 7,690 7,756 7,689 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 stock options during the period. These outstanding stock options are not included in the computa‐tion of diluted income per share because the effect would be antidilutive. For the three- and six-month periods ended June 30, 2024, there were no

Note 12 - Segment Data

Note 12 - Segment Data	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	(12) Segment Data The Company consists of a single Revenues shipped to customers outside of the United States comprised approximately 18.8% and 18.6% of the Company’s consolidated revenues for the three-and-six-month periods ended June 30, 2024, respectively. Revenues shipped to customers outside of the United States comprised approximately 18.5% and 17.6% of the Company’s consolidated revenues for the three-and-six-month periods ended June 30, 2023, respectively. One One one two The Company’s products are primarily sold to customers within the Medical, Aerospace & Defense, Automotive, and Industrial/Other markets. Sales by market for the three and six months ended June 30, 2024 and 2023 are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Market Net Sales % Net Sales % Net Sales % Net Sales % Medical $ 95,419 86.6 % $ 86,150 86.1 % $ 185,456 86.2 % $ 169,965 85.9 % Aerospace & Defense 5,820 5.3 % 4,234 4.2 % 11,958 5.5 % 8,451 4.3 % Industrial / Other 4,961 4.5 % 5,557 5.6 % 9,846 4.6 % 10,931 5.5 % Automotive 3,977 3.6 % 4,096 4.1 % 7,926 3.7 % 8,443 4.3 % Net Sales $ 110,177 100.0 % $ 100,037 100.0 % $ 215,186 100.0 % $ 197,790 100.0 %

Note 13 - Goodwill and Other In

Note 13 - Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	(13) Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the six months ended June 30, 2024 are as follows (in thousands): Goodwill December 31, 2023 $ 113,263 Acquired in Marble Medical business combination 2,564 Foreign currency translation (211 ) June 30, 2024 $ 115,616 The carrying values of the Company’s definite lived intangible assets as of June 30, 2024 are as follows (in thousands): Intelletual Property / Tradename & Brand Non- Customer Total Weighted-average amortization period 11.4 years 9.2 years 19.9 years Gross amount $ 7,371 $ 5,548 $ 65,434 $ 78,353 Accumulated amortization (1,620 ) (1,796 ) (12,555 ) (15,971 ) Net balance $ 5,751 $ 3,752 $ 52,879 $ 62,382 Amortization expense related to intangible assets was approximately $1.0 million and $2.0 million for the three- and six-month periods ended June 30, 2024, respectively, and $1.0 million and $2.1 million for the three- and six-month periods ended June 30, 2023, respectively. The estimated remaining amortization expense as of June 30, 2024 is as follows (in thousands): Remainder of 2024 $ 2,113 2025 4,274 2026 4,272 2027 4,270 2028 4,172 2029 4,168 Thereafter 39,113 Total $ 62,382

Note 14 - Other Long-term Liabi

Note 14 - Other Long-term Liabilities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	(14) Other Long-Term Liabilities Other long-term liabilities consist of the following (in thousands): June 30, December 31, 2024 2023 Accrued contingent consideration (earn-out) $ 3,972 $ 8,096 Present value of non-competition payments 5,038 6,586 Other 750 499 $ 9,760 $ 15,181

Note 15 - Income Taxes

Note 15 - Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(15) Income Taxes The determination of income tax expense in the accompanying unaudited condensed consolidated statements of income is based upon the estimated effective tax rate for the year, adjusted for the impact of any discrete items which are accounted for in the period in which they occur. The Company recorded income tax expense of approximately 22.0% and 19.8% of income before income tax expense for the three- and six-month periods ended June 30, 2024, respectively, and 25.6% and 22.4% of income before income tax expense for the three- and six-month periods ended June 30, 2023, respectively

Note 16 - Debt

Note 16 - Debt	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	(16) Debt On June 27, 2024, the Company, as the borrower, entered into a secured $275 million Amended and Restated Credit Agreement (the “Third Amended and Restated Credit Agreement”) with certain of the Company’s subsidiaries (the “Subsidiary Guarantors”) and Bank of America, N.A., in its capacity as the initial lender, Administrative Agent, Swingline Lender and L/C Issuer, and certain other lenders from time-to-time party thereto. The Third Amended and Restated Credit Agreement amends and restates the Company’s prior credit agreement, originally dated as of December 22, 2021. The credit facilities under the Third Amended and Restated Credit Agreement consist of a secured term loan to the Company of up to $125million and a secured revolving credit facility, under which the Company may borrow up to $150 million. The Third Amended and Restated Credit Facilities mature on June 27, 2029. This maturity date is subject to acceleration and the Company could be subject to additional fees and expenses in certain circumstances should one or more events of default described in the Third Amended and Restated Credit Agreement occur. The secured term loan requires quarterly principal payments of $3,125,000 that commence on December 31, 2024. The proceeds of the Third Amended and Restated Credit Agreement may be used for general corporate purposes, including funding the acquisition of AJR Enterprises, LLC (see Note 17 for more information regarding this acquisition), as well as certain other permitted acquisitions. The Company’s obligations under the Third Amended and Restated Credit Agreement are guaranteed by Subsidiary Guarantors and secured by substantially all assets of the Company. The Third Amended and Restated Credit Facilities call for interest at SOFR plus a margin that ranges from 1.25% to 2.25% or, at the discretion of the Company, the bank’s prime rate plus a margin that ranges from .25 At June 30, 2024, the Company had approximately $35.2 million in borrowings outstanding under the Third Amended and Restated Credit Agreement, and also had approximately $0.7 million in standby letters of credit outstanding, drawable as a financial guarantee on worker’s compensation insurance policies. At June 30, 2024, the applicable interest rate was approximately 6.9% and the Company was in compliance with all covenants under the Third Amended and Restated Credit Agreement. Long-term debt consists of the following (in thousands): June 30, 2024 Revolving credit facility $ 35,200 Total long-term debt $ 35,200 Current portion - Long-term debt, excluding current portion $ 35,200 Future maturities of long-term debt at June 30, 2024 are as follows ( in thousands Revolving credit facility Remainder of 2024 $ - 2025 - 2026 - 2027 - 2028 - 2029 35,200 $ 35,200

Note 17 - Subsequent Events

Note 17 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	(17) Subsequent Events Acquisition of AJR Enterprises On July 1, 2024, the Company purchased 100% of the outstanding membership interests of AJR Enterprises, LLC, (“AJR”) pursuant to a Securities Purchase Agreement, for an aggregate purchase price of $110 million in cash. The purchase price was subject to adjustment based upon AJR’s estimated working capital at closing, and further adjustment when the final working capital is determined. A portion of the purchase price is being held in escrow to indemnify the Company against certain claims, losses, and liabilities. The Purchase Agreement contains customary representations, warranties, and covenants customary for transactions of this type. As part of the Securities Purchase Agreement, the Sellers as well as certain restricted parties have agreed to not compete with the Company for a period of seven AJR , is headquartered in St. Charles, IL, with additional manufacturing in the Dominican Republic. AJR brings us a strategic leadership position in the growing single-use safe patient handling space, as well as expertise in specialty fabrics and a very low-cost manufacturing operation. Acquisition costs associated with the transaction were approximately $422 thousand which was charged to expense in the three- and six-month periods ended June 30, 2024. These costs were primarily for legal and valuation services, which are reflected on the face of the Condensed Consolidated Statements of Comprehensive Income. Due to the timing of the AJR acquisition, the accounting for this business combination is incomplete. As a result, it is impracticable for the Company to disclose substantially all required disclosures of Accounting Standards Codification 805, Business Combinations Acquisition of Welch Fluorocarbon On July 15, 2024, the Company purchased 100% of the outstanding shares of common stock of Welch Fluorocarbon, Inc., (“Welch”) pursuant to a stock purchase agreement and related agreements, for an aggregate purchase price of $34.6 million in cash, plus up to an additional $6.0 million based upon the achievement of certain EBITDA targets of Welch for each of the 12-month periods ended December 31, 2024, 2025 and 2026. The purchase price was subject to adjustment based upon Welch’s estimated working capital at closing, and further adjustment when the final working capital is determined. A portion of the purchase price is being held in escrow to indemnify the Company against certain claims, losses, and liabilities. The Purchase Agreement contains customary representations, warranties, and covenants customary for transactions of this type. Founded in 1985 and headquartered in Dover, New Hampshire, Welch Fluorocarbon develops and manufactures thermoformed, and heat sealed implantable medical device components utilizing thin, high-performance films. Acquisition costs associated with the transaction were approximately $229 thousand which was charged to expense in the three- and six-month periods ended June 30, 2024. These costs were primarily for legal and valuation services, which are reflected on the face of the Condensed Consolidated Statements of Comprehensive Income. Due to the timing of the Welch Fluorocarbon acquisition, the accounting for this business combination is incomplete. As a result, it is impracticable for the Company to disclose substantially all required disclosures of Accounting Standards Codification 805, Business Combinations Funding of Acquisitions Both the above noted acquisitions were funded through borrowings under the Company’s Third Amended and Restated Credit Agreement. Subsequent to these acquisitions, as of July, 15, 2024, the Company had approximately $179.2 million outstanding under the Third Amended and Restated Credit Agreement, $115 million of which was under its secured term loan and $64.2 million of which was under its revolving credit facility. As of July 15, 2024, after reducing the available amount by certain letters of credit, the Company had approximately $85.1 million available to draw under its revolving credit facility. As of July 15, 2024, until December 31, 2024, the Company may draw up to an additional $10 million of borrowing under its secured term loan.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5: OTHER INFORMATION During the second quarter of fiscal 2024, none
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, Net sales of: 2024 2023 2024 2023 Products $ 105,248 $ 98,660 $ 208,517 $ 193,352 Tooling and Machinery 3,292 259 4,557 1,553 Engineering services 1,637 1,118 2,112 2,885 Total net sales $ 110,177 $ 100,037 $ 215,186 $ 197,790
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Liabilities Six Months Ended 2024 2023 Deferred revenue - beginning of period $ 6,616 $ 4,679 Increases due to consideration received from customers 1,238 2,151 Revenue recognized (3,302 ) (2,564 ) Deferred revenue - end of period $ 4,552 $ 4,266 Contract Assets Six Months Ended 2024 2023 Unbilled Receivables - beginning of period $ 114 $ 270 Increases due to revenue recognized, not invoiced to customers 1,121 2,070 Decreases due to customer invoicing (1,053 ) (2,047 ) Unbilled Receivables - end of period $ 182 $ 293

Note 4 - Supplemental Cash Fl_2

Note 4 - Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended June 30, 2024 2023 Cash paid for: Interest $ 1,228 $ 1,912 Income taxes, net of refunds 5,735 8,112 Non-cash investing and financing activities: Capital additions accrued but not yet paid $ 102 $ 218 Operating lease right of use assets 83 1,524 Operating lease liabilities (83 ) (1,560 ) Financing lease right of use assets 35 - Financing lease liablities 58 -

Note 5 - Receivables and Allo_2

Note 5 - Receivables and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, December 31, 2024 2023 2022 Accounts receivable–trade $ 61,802 $ 65,176 $ 55,850 Less allowance for credit losses (817 ) (727 ) (733 ) Receivables, net $ 60,985 $ 64,449 $ 55,117
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for Credit Six Months Ended 2024 2023 Allowance - beginning of period $ 727 $ 733 Adjustment for expected credit losses 107 (13 ) Amounts written off against the allowance (17 ) (10 ) Recoveries - 8 Allowance - end of period $ 817 $ 718

Note 6 - Fair Value of Financ_2

Note 6 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	June 30, 2024 December 31, 2023 Level 3 Purchase price contingent consideration: Accrued contingent consideration (earn-out) $ 8,972 $ 13,096 Present value of non-competition payments 6,535 8,474

Note 7 - Share-based Compensa_2

Note 7 - Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Employee Service Share Based Compensation Allocation of Recognized Period Costs, By Award Type [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, Share-based compensation related to: 2024 2023 2024 2023 Common stock grants $ 100 $ 100 $ 200 $ 200 Stock option grants 118 113 230 207 Restricted Stock Unit Awards ("RSUs") 1,518 984 2,819 1,846 Total share-based compensation $ 1,736 $ 1,197 $ 3,249 $ 2,253
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 at December 31, 2023 78,488 $ 39.98 Granted 2,958 260.92 Exercised (6,568 ) 32.35 Outstanding at June 30, 2024 74,878 $ 67.37 5.42 $ 14,714 Exercisable at June 30, 2024 67,952 $ 56.36 5.33 $ 14,100 Vested and expected to vest at June 30, 2024 74,878 $ 67.37 5.42 $ 14,714
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Expected volatility 39.7 % Expected dividends None Risk-free interest rate 4.3 % Exercise price $ 260.92 Expected term 6.3 Weighted-average grant date fair value $ 121.61
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Restricted Stock Units Weighted Average Fair Value Outstanding at December 31, 2023 95,693 $ 64.82 Awarded 31,663 175.30 Shares vested (50,582 ) 79.53 Shares forfeited (378 ) 139.55 Outstanding at June 30, 2024 76,396 $ 85.47

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2024 2023 Raw materials $ 56,828 $ 53,539 Work in process 7,817 7,821 Finished goods 13,331 8,831 Total inventory $ 77,976 $ 70,191

Note 9 - Property, Plant and _2

Note 9 - Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2024 2023 Land and improvements $ 5,015 $ 4,849 Buildings and improvements 35,531 34,735 Leasehold improvements 9,235 8,226 Machinery & equipment 60,966 58,343 Furniture, fixtures, computers & software 6,879 6,324 Construction in progress 7,083 6,845 Property, plant and equipment $ 124,709 $ 119,322 Accumulated depreciation and amortization (60,973 ) (57,185 ) Net property, plant and equipment $ 63,736 $ 62,137

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Leases, Right-of-Use Assets and Liabilities [Table Text block]	June 30, December 31, 2024 2023 Operating lease ROU assets $ 12,093 $ 13,437 Finance lease ROU assets 130 151 Total ROU assets $ 12,223 $ 13,588 Operating lease liabilities - current $ 3,165 $ 3,162 Finance lease liabilities - current 115 60 Total lease liabilities - current $ 3,280 $ 3,222 Operating lease liabilities - long-term $ 9,408 $ 10,719 Finance lease liabilities - long-term 65 96 Total lease liabilities - long-term $ 9,473 $ 10,815
Lease, Cost [Table Text Block]	Six Months Ended June 30, 2024 2023 Lease Cost: Finance lease cost: Amortization of right of use assets $ 48 $ 30 Interest on lease liabilities 4 2 Operating lease cost 1,713 1,480 Variable lease cost 160 159 Short-term lease cost 86 14 Total lease cost $ 2,011 $ 1,685 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,682 $ 1,407 Financing cash flows from finance leases 41 32 Weighted-average remaining lease term (years): Finance 1.59 3.04 Operating 3.79 4.81 Weighted-average discount rate: Finance 3.77 % 2.10 % Operating 3.72 % 3.43 %
Lessee, Operating and Finance Leases, Liability, Maturity [Table Text Block]	Operating Finance Remainder of 2024 $ 1,687 $ 118 2025 3,030 52 2026 2,667 14 2027 2,303 - 2028 1,190 - Thereafter 2,828 - Total lease payments 13,705 184 Less: Interest (1,132 ) (4 ) Present value of lease liabilities $ 12,573 $ 180

Note 11 - Income Per Share (Tab

Note 11 - Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Basic weighted average common shares outstanding 7,672 7,625 7,662 7,608 Weighted average common equivalent shares due to restricted stock, stock options and RSUs 81 65 94 81 Diluted weighted average common shares outstanding 7,753 7,690 7,756 7,689

Note 12 - Segment Data (Tables)

Note 12 - Segment Data (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Market Net Sales % Net Sales % Net Sales % Net Sales % Medical $ 95,419 86.6 % $ 86,150 86.1 % $ 185,456 86.2 % $ 169,965 85.9 % Aerospace & Defense 5,820 5.3 % 4,234 4.2 % 11,958 5.5 % 8,451 4.3 % Industrial / Other 4,961 4.5 % 5,557 5.6 % 9,846 4.6 % 10,931 5.5 % Automotive 3,977 3.6 % 4,096 4.1 % 7,926 3.7 % 8,443 4.3 % Net Sales $ 110,177 100.0 % $ 100,037 100.0 % $ 215,186 100.0 % $ 197,790 100.0 %

Note 13 - Goodwill and Other _2

Note 13 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	Goodwill December 31, 2023 $ 113,263 Acquired in Marble Medical business combination 2,564 Foreign currency translation (211 ) June 30, 2024 $ 115,616
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intelletual Property / Tradename & Brand Non- Customer Total Weighted-average amortization period 11.4 years 9.2 years 19.9 years Gross amount $ 7,371 $ 5,548 $ 65,434 $ 78,353 Accumulated amortization (1,620 ) (1,796 ) (12,555 ) (15,971 ) Net balance $ 5,751 $ 3,752 $ 52,879 $ 62,382
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of 2024 $ 2,113 2025 4,274 2026 4,272 2027 4,270 2028 4,172 2029 4,168 Thereafter 39,113 Total $ 62,382

Note 14 - Other Long-term Lia_2

Note 14 - Other Long-term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Other Noncurrent Liabilities [Table Text Block]	June 30, December 31, 2024 2023 Accrued contingent consideration (earn-out) $ 3,972 $ 8,096 Present value of non-competition payments 5,038 6,586 Other 750 499 $ 9,760 $ 15,181

Note 16 - Debt (Tables)

Note 16 - Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Debt [Table Text Block]	June 30, 2024 Revolving credit facility $ 35,200 Total long-term debt $ 35,200 Current portion - Long-term debt, excluding current portion $ 35,200
Schedule of Maturities of Long-Term Debt [Table Text Block]	Revolving credit facility Remainder of 2024 $ - 2025 - 2026 - 2027 - 2028 - 2029 35,200 $ 35,200

Note 2 - Acquisition (Details T

Note 2 - Acquisition (Details Textual) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 24, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Combination, Acquisition Related Costs		$ 943	$ 0	$ 943	$ 0
Marble Medical, Inc [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100%
Payments to Acquire Businesses, Gross	$ 4,500
Business Combination, Acquisition Related Costs		$ 145		$ 145
Marble Medical, Inc [Member] | Maximum [Member] | Achievement of Sales Targets [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 500

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Deferred Revenue [Member]
Contract with Customer, Liability, Revenue Recognized	$ 3	$ 2

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 110,177	$ 100,037	$ 215,186	$ 197,790
Product [Member]
Net sales	105,248	98,660	208,517	193,352
Tooling and Machinery [Member]
Net sales	3,292	259	4,557	1,553
Engineering and Development [Member]
Net sales	$ 1,637	$ 1,118	$ 2,112	$ 2,885

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Deferred revenue - beginning of period	$ 6,616	$ 4,679
Unbilled receivables - beginning of period	114	270
Increases due to consideration received from customers	1,238	2,151
Increases due to revenue recognized, not invoiced to customers	1,121	2,070
Revenue recognized	(3,302)	(2,564)
Decreases due to customer invoicing	(1,053)	(2,047)
Deferred revenue - end of period	4,552	4,266
Unbilled receivables - end of period	$ 182	$ 293

Note 4 - Supplemental Cash Fl_3

Note 4 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest	$ 1,228	$ 1,912
Income taxes, net of refunds	5,735	8,112
Capital additions accrued but not yet paid	102	218
Operating lease right of use assets	83	1,524
Operating lease liabilities	(83)	(1,560)
Financing lease right of use assets	35	0
Financing lease liablities	$ 58	$ 0

Note 5 - Receivables and Allo_3

Note 5 - Receivables and Allowance for Credit Losses - Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable–trade	$ 61,802	$ 65,176	$ 55,850
Less allowance for credit losses	(817)	(727)	(733)
Receivables, net	$ 60,985	$ 64,449	$ 55,117

Note 5 - Receivables and Allo_4

Note 5 - Receivables and Allowance for Credit Losses - Summary of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Allowance - beginning of period	$ 727	$ 733
Adjustment for expected credit losses	107	(13)
Amounts written off against the allowance	(17)	(10)
Recoveries	0	8
Allowance - end of period	$ 817	$ 718

Note 6 - Fair Value of Financ_3

Note 6 - Fair Value of Financial Instruments (Details Textual) € in Thousands, $ in Millions			3 Months Ended	6 Months Ended
	Jun. 24, 2024 USD ($)	Dec. 22, 2021 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)
Present Value of Non-competition Agreement				$ 6.5
Marble Medical, Inc [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				0.5
Business Combination, Contingent Consideration, Liability				0.4
Payments to Acquire Businesses, Gross	$ 4.5
DAS Medical [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				20
Business Combination, Contingent Consideration, Liability				9.7
DAS Medical [Member] | Non-Competition Agreements [Member]
Payments to Acquire Businesses, Gross		$ 10	$ 1.7
Business Combination, Agreement Term (Year)		10 years
Marble Medical and DAS Medical [Member]
Business Combination, Contingent Consideration, Liability				9
Business Combination, Consideration Transferred, Liabilities Incurred				$ 10.5
Advant Medical [Member] | Non-Competition Agreements [Member]
Payments to Acquire Businesses, Gross | €					€ 375
Business Combination, Agreement Term (Year)				5 years	5 years

Note 6 - Fair Value of Financ_4

Note 6 - Fair Value of Financial Instruments - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Present value of non-competition payments	$ 6,500
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Accrued contingent consideration (earn-out)	8,972	$ 13,096
Present value of non-competition payments	$ 6,535	$ 8,474

Note 7 - Share-based Compensa_3

Note 7 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expense, Tax Benefit	$ 486	$ 752	$ 1,500	$ 1,600
Share Price (in dollars per share)	$ 260.92		$ 260.92
Proceeds from Stock Options Exercised			$ 107	680
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 8,300		$ 8,300
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 9 months 18 days
Employee and Nonemployee Stock Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			2,958
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 1,500	3,000
Proceeds from Stock Options Exercised			$ 212	$ 789
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			653	861
Shares Paid for Tax Withholding for Share Based Compensation Market Price (in dollars per share)			$ 162.93	$ 127.05
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			21,914	20,457
Shares Paid for Tax Withholding for Share Based Compensation Market Price (in dollars per share)			$ 216.8	$ 117.95
Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			2,958

Note 7 - Share-based Compensa_4

Note 7 - Share-based Compensation - Compensation Cost (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based compensation	$ 1,736	$ 1,197	$ 3,249	$ 2,253
Common Stock [Member]
Share-based compensation	100	100	200	200
Employee and Nonemployee Stock Option [Member]
Share-based compensation	118	113	230	207
Restricted Stock Units (RSUs) [Member]
Share-based compensation	$ 1,518	$ 984	$ 2,819	$ 1,846

Note 7 - Share-based Compensa_5

Note 7 - Share-based Compensation - Summary of Stock Option Activity (Details) - Employee and Nonemployee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024
Outstanding, options (in shares)	78,488
Outstanding, weighted average exercise price (in dollars per share)	$ 39.98
Granted, options (in shares)	2,958
Granted, weighted average exercise price (in dollars per share)	$ 260.92
Exercised, options (in shares)	(6,568)
Exercised, weighted average exercise price (in dollars per share)	$ 32.35
Outstanding, options (in shares)	74,878
Outstanding, weighted average exercise price (in dollars per share)	$ 67.37
Outstanding, weighted average remaining life (Year)	5 years 5 months 1 day
Outstanding, intrinsic value	$ 14,714
Exercisable, options (in shares)	67,952
Exercisable, weighted average exercise price (in dollars per share)	$ 56.36
Exercisable, weighted average remaining life (Year)	5 years 3 months 29 days
Exercisable, intrinsic value	$ 14,100
Vested and expected to vest, options (in shares)	74,878
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 67.37
Vested and expected to vest, weighted average remaining life (Year)	5 years 5 months 1 day
Vested and expected to vest, intrinsic value	$ 14,714

Note 7 - Share-based Compensa_6

Note 7 - Share-based Compensation - Black-Scholes Option Pricing Model (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares
Expected volatility	39.70%
Risk-free interest rate	4.30%
Exercise price (in dollars per share)	$ 260.92
Expected term (Year)	6 years 3 months 18 days
Weighted-average grant date fair value (in dollars per share)	$ 121.61

Note 7 - Share-based Compensa_7

Note 7 - Share-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Outstanding, restricted stock units (in shares) | shares	95,693
Outstanding, weighted average award date fair value (in dollars per share) | $ / shares	$ 64.82
Awarded, restricted stock units (in shares) | shares	31,663
Awarded, weighted average award date fair value (in dollars per share) | $ / shares	$ 175.3
Shares vested, restricted stock units (in shares) | shares	(50,582)
Shares vested, weighted average award date fair value (in dollars per share) | $ / shares	$ 79.53
Shares forfeited, restricted stock units (in shares) | shares	(378)
Shares forfeited, weighted average award date fair value (in dollars per share) | $ / shares	$ 139.55
Outstanding, restricted stock units (in shares) | shares	76,396
Outstanding, weighted average award date fair value (in dollars per share) | $ / shares	$ 85.47

Note 8 - Inventories - Summary

Note 8 - Inventories - Summary of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Raw materials	$ 56,828	$ 53,539
Work in process	7,817	7,821
Finished goods	13,331	8,831
Total inventory	$ 77,976	$ 70,191

Note 9 - Property, Plant and _3

Note 9 - Property, Plant and Equipment - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, plant, and equipment	$ 124,709	$ 119,322
Accumulated depreciation and amortization	(60,973)	(57,185)
Net property, plant and equipment	63,736	62,137
Land and Land Improvements [Member]
Property, plant, and equipment	5,015	4,849
Building and Building Improvements [Member]
Property, plant, and equipment	35,531	34,735
Leasehold Improvements [Member]
Property, plant, and equipment	9,235	8,226
Machinery and Equipment [Member]
Property, plant, and equipment	60,966	58,343
Furniture, Fixtures, and Computers [Member]
Property, plant, and equipment	6,879	6,324
Construction in Progress [Member]
Property, plant, and equipment	$ 7,083	$ 6,845

Note 10 - Leases - Right-of-Use

Note 10 - Leases - Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total ROU assets	Total ROU assets
Operating lease ROU assets	$ 12,093	$ 13,437
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total ROU assets	Total ROU assets
Finance lease ROU assets	$ 130	$ 151
Total ROU assets	$ 12,223	$ 13,588
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total lease liabilities - current	Total lease liabilities - current
Operating lease liabilities - current	$ 3,165	$ 3,162
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total lease liabilities - current	Total lease liabilities - current
Finance lease liabilities - current	$ 115	$ 60
Total lease liabilities - current	$ 3,280	$ 3,222
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total lease liabilities - long-term	Total lease liabilities - long-term
Operating lease liabilities - long-term	$ 9,408	$ 10,719
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total lease liabilities - long-term	Total lease liabilities - long-term
Finance lease liabilities - long-term	$ 65	$ 96
Total lease liabilities - long-term	$ 9,473	$ 10,815

Note 10 - Leases - Lease Cost (

Note 10 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lease Cost:
Operating cash flows from operating leases	$ 1,682	$ 1,407
Amortization of right of use assets	48	30
Financing cash flows from finance leases	41	32
Interest on lease liabilities	4	2
Operating lease cost	$ 1,713	$ 1,480
Finance (Year)	1 year 7 months 2 days	3 years 14 days
Variable lease cost	$ 160	$ 159
Operating (Year)	3 years 9 months 14 days	4 years 9 months 21 days
Short-term lease cost	$ 86	$ 14
Finance	3.77%	2.10%
Total lease cost	$ 2,011	$ 1,685
Operating	3.72%	3.43%

Note 10 - Leases - Aggregate Fu

Note 10 - Leases - Aggregate Future Lease Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Remainder of 2024, operating	$ 1,687
Remainder of 2024, finance	118
2025, operating	3,030
2025, finance	52
2026, operating	2,667
2026, finance	14
2027, operating	2,303
2027, finance	0
2028, operating	1,190
2028, finance	0
Thereafter, operating	2,828
Thereafter, finance	0
Total lease payments, operating	13,705
Total lease payments, finance	184
Less: Interest, operating	(1,132)
Less: Interest, finance	(4)
Present value of lease liabilities, operating	12,573
Present value of lease liabilities, finance	$ 180

Note 11 - Income Per Share (Det

Note 11 - Income Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	4,281	0	12,153

Note 11 - Income Per Share - We

Note 11 - Income Per Share - Weighted Average Number of Shares Used to Compute Net EPS (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic weighted average common shares outstanding (in shares)	7,672	7,625	7,662	7,608
Weighted average common equivalent shares due to restricted stock, stock options and RSUs (in shares)	81	65	94	81
Diluted weighted average common shares outstanding (in shares)	7,753	7,690	7,756	7,689

Note 12 - Segment Data (Details

Note 12 - Segment Data (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Number of Operating Segments			1
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers			1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member]
Concentration Risk, Percentage	33.90%	24.70%	33.10%	22.70%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Geographic Distribution, Foreign [Member]
Concentration Risk, Percentage	18.80%	18.50%	18.60%	17.60%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers			1		2
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member]
Concentration Risk, Percentage			13.30%		16.50%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage					12.20%
Customer Concentration Risk [Member] | Long-Lived Assets [Member] | Geographic Distribution, Foreign [Member]
Concentration Risk, Percentage			18.40%

Note 12 - Segment Data - Net Sa

Note 12 - Segment Data - Net Sales by Market (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 110,177	$ 100,037	$ 215,186	$ 197,790
Percentage of concentration risk	100%	100%	100%	100%
Medical [Member]
Net sales	$ 95,419	$ 86,150	$ 185,456	$ 169,965
Percentage of concentration risk	86.60%	86.10%	86.20%	85.90%
Aerospace & Defense [Member]
Net sales	$ 5,820	$ 4,234	$ 11,958	$ 8,451
Percentage of concentration risk	5.30%	4.20%	5.50%	4.30%
industrial or Other [Member]
Net sales	$ 4,961	$ 5,557	$ 9,846	$ 10,931
Percentage of concentration risk	4.50%	5.60%	4.60%	5.50%
Automotive [Member]
Net sales	$ 3,977	$ 4,096	$ 7,926	$ 8,443
Percentage of concentration risk	3.60%	4.10%	3.70%	4.30%

Note 13 - Goodwill and Other _3

Note 13 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Amortization of Intangible Assets	$ 1	$ 1	$ 2	$ 2.1

Note 13 - Goodwill and Other _4

Note 13 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
December 31, 2023	$ 113,263
Acquired in Marble Medical business combination	2,564
Foreign currency translation	(211)
June 30, 2024	$ 115,616

Note 13 - Goodwill and Other _5

Note 13 - Goodwill and Other Intangible Assets - Definite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Gross amount	$ 78,353
Accumulated amortization	(15,971)
Net balance	62,382	$ 64,116
Intellectual Property/ Tradename and Brand [Member]
Gross amount	7,371
Accumulated amortization	(1,620)
Net balance	$ 5,751
Intellectual Property/ Tradename and Brand [Member] | Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	11 years 4 months 24 days
Noncompete Agreements [Member]
Gross amount	$ 5,548
Accumulated amortization	(1,796)
Net balance	$ 3,752
Noncompete Agreements [Member] | Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	9 years 2 months 12 days
Customer Lists [Member]
Gross amount	$ 65,434
Accumulated amortization	(12,555)
Net balance	$ 52,879
Customer Lists [Member] | Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	19 years 10 months 24 days

Note 13 - Goodwill and Other _6

Note 13 - Goodwill and Other Intangible Assets - Future Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Remainder of 2024	$ 2,113
2025	4,274
2026	4,272
2027	4,270
2028	4,172
2029	4,168
Thereafter	39,113
Total	$ 62,382

Note 14 - Other Long-term Lia_3

Note 14 - Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued contingent consideration (earn-out)	$ 3,972	$ 8,096
Present value of non-competition payments	5,038	6,586
Other	750	499
Other Liabilities, Noncurrent	$ 9,760	$ 15,181

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Effective Income Tax Rate Reconciliation, Percent	22%	25.60%	19.80%	22.40%

Note 16 - Debt (Details Textual

Note 16 - Debt (Details Textual) - USD ($)	Jun. 27, 2024	Jun. 30, 2024
Long-Term Debt		$ 35,200,000
Subsidiary Guarantors [Member] | Third Amended and Restated Credit Agreement [Member]
Debt Instrument, Face Amount	$ 275,000,000
Long-Term Debt		35,200,000
Letters of Credit Outstanding, Amount		$ 700,000
Debt Instrument, Interest Rate, Stated Percentage		6.90%
Subsidiary Guarantors [Member] | Third 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] | Third Amended and Restated Credit Agreement [Member] | Bloomberg Short-term Bank Yield Index Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Subsidiary Guarantors [Member] | Third Amended and Restated Credit Agreement [Member] | Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Subsidiary Guarantors [Member] | Third Amended and Restated Credit Agreement [Member] | Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Subsidiary Guarantors [Member] | Third Amended and Restated Credit Agreement [Member] | Secured Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 150,000,000
Debt Instrument, Periodic Payment, Principal	3,125,000
Subsidiary Guarantors [Member] | Third Amended and Restated Credit Agreement [Member] | Secured Term Loan [Member]
Debt Instrument, Face Amount	$ 125,000,000

Note 16 - Debt - Long-term debt

Note 16 - Debt - Long-term debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revolving credit facility	$ 35,200
Current portion	0	$ (4,000)
Long-term debt, excluding current portion	35,200	$ 28,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Revolving credit facility	$ 35,200

Note 16 - Debt - Schedule of Ma

Note 16 - Debt - Schedule of Maturity (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Long-Term Debt	$ 35,200
Term Loan [Member]
Remainder of 2024	0
2025	0
2026	0
2027	0
2028	0
2029	$ 35,200

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Jul. 15, 2024	Jul. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Combination, Acquisition Related Costs			$ 943	$ 0	$ 943	$ 0
Subsequent Event [Member] | Third Amended and Restated Credit Agreement [Member] | Subsidiary Guarantors [Member]
Long-Term Debt, Gross	$ 179,200
Subsequent Event [Member] | Third Amended and Restated Credit Agreement [Member] | Subsidiary Guarantors [Member] | Secured Revolving Credit Facility [Member]
Long-Term Debt, Gross	64,200
Line of Credit Facility, Remaining Borrowing Capacity	85,100
Subsequent Event [Member] | Third Amended and Restated Credit Agreement [Member] | Subsidiary Guarantors [Member] | Secured Term Loan [Member]
Long-Term Debt, Gross	115,000
Long Term Debt, Remaining Borrowing Capacity	$ 10,000
AJR Enterprises, LLC [Member]
Business Combination, Acquisition Related Costs			422		422
AJR Enterprises, LLC [Member] | Subsequent Event [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100%
Business Combination, Consideration Transferred		$ 110,000
AJR Enterprises, LLC [Member] | Subsequent Event [Member] | Non-Competition Agreements [Member]
Business Combination, Agreement Term (Year)		7 years
Welch Fluorocarbon, Inc [Member]
Business Combination, Acquisition Related Costs			$ 229		$ 229
Welch Fluorocarbon, Inc [Member] | Subsequent Event [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100%
Payments to Acquire Businesses, Gross	$ 34,600
Welch Fluorocarbon, Inc [Member] | Subsequent Event [Member] | Maximum [Member] | Achievement of EBITDA Targets [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 6,000