Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 09, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Gaming Partners International CORP | ||
Entity Central Index Key | 918,580 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Trading Symbol | GPIC | ||
Entity Common Stock, Shares Outstanding | 7,928,594 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 37,150,206 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Cash and cash equivalents | $ 17,788 | $ 8,969 |
Marketable securities | 3,503 | 3,597 |
Accounts receivable, net | 10,677 | 10,327 |
Inventories | 10,199 | 9,063 |
Prepaid expenses | 947 | 749 |
Deferred income tax assets | 1,640 | 1,011 |
Other current assets | 1,576 | 2,273 |
Total current assets | 46,330 | 35,989 |
Property and equipment, net | 14,102 | 15,087 |
Goodwill | 10,292 | 10,292 |
Intangible assets, net | 2,505 | 2,794 |
Deferred income tax assets | 710 | 2,003 |
Inventories, non-current | 670 | 523 |
Other assets | 2,635 | 1,706 |
Total assets | 77,244 | 68,394 |
Current Liabilities: | ||
Accounts payable | 4,498 | 3,321 |
Accrued liabilities | 6,456 | 3,906 |
Customer deposits and deferred revenue | 2,080 | 2,224 |
Current portion of long-term debt | 1,343 | 10,000 |
Income taxes payable | 824 | 343 |
Total current liabilities | 15,201 | 19,794 |
Long-term debt | 8,002 | 0 |
Deferred income tax liabilities | 170 | 272 |
Other liabilities | 83 | 63 |
Total liabilities | $ 23,456 | $ 20,129 |
Commitments and contingencies - see Note 11 | ||
Stockholders' Equity: | ||
Preferred stock, authorized 10,000,000 shares, $.01 par value, none issued and outstanding | $ 0 | $ 0 |
Common stock, authorized 30,000,000 shares, $.01 par value, 8,219,577 and 7,928,594 issued and outstanding, respectively, as of December 31, 2015, and 8,207,077 and 7,916,094 issued and outstanding, respectively, as of December 31, 2014 | 82 | 82 |
Additional paid-in capital | 20,033 | 19,886 |
Treasury stock at cost: 290,983 shares at December 31, 2015 and 2014 | (2,263) | (2,263) |
Retained earnings | 37,812 | 30,881 |
Accumulated other comprehensive loss | (1,876) | (321) |
Total stockholders' equity | 53,788 | 48,265 |
Total liabilities and stockholders' equity | $ 77,244 | $ 68,394 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares issued | 8,219,577 | 8,207,077 |
Common stock, shares outstanding | 7,928,594 | 7,916,094 |
Treasury stock, shares | 290,983 | 290,983 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues | $ 78,238 | $ 60,972 |
Cost of revenues | 51,403 | 42,657 |
Gross profit | 26,835 | 18,315 |
Marketing and sales | 6,438 | 6,203 |
General and administrative | 9,273 | 8,403 |
Research and development | 1,215 | 1,521 |
Operating income | 9,909 | 2,188 |
Other (expense) income, net | (173) | 227 |
Income before income taxes | 9,736 | 2,415 |
Income tax provision (benefit) | 2,805 | (261) |
Net income | $ 6,931 | $ 2,676 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.87 | $ 0.34 |
Diluted (in dollars per share) | $ 0.86 | $ 0.33 |
Weighted-average shares of common stock outstanding: | ||
Basic (in shares) | 7,926 | 7,916 |
Diluted (in shares) | 8,040 | 8,015 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 6,931 | $ 2,676 |
Other comprehensive loss: | ||
Foreign currency translation adjustment, net of tax | (1,555) | (1,998) |
Total comprehensive income | $ 5,376 | $ 678 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 31, 2013 | $ 47,472 | $ 82 | $ 19,771 | $ (2,263) | $ 28,205 | $ 1,677 |
Balance (in shares) at Dec. 31, 2013 | 7,916,094 | |||||
Net income | 2,676 | $ 0 | 0 | 0 | 2,676 | 0 |
Stock compensation expense | 115 | 0 | 115 | 0 | 0 | 0 |
Foreign currency translation adjustment | (1,998) | 0 | 0 | 0 | 0 | (1,998) |
Balance at Dec. 31, 2014 | 48,265 | $ 82 | 19,886 | (2,263) | 30,881 | (321) |
Balance (in shares) at Dec. 31, 2014 | 7,916,094 | |||||
Net income | 6,931 | $ 0 | 0 | 0 | 6,931 | 0 |
Common stock options exercised | 87 | $ 0 | 87 | 0 | 0 | 0 |
Common stock options exercised (in shares) | 12,500 | |||||
Tax impacts of stock options | (17) | $ 0 | (17) | 0 | 0 | 0 |
Stock compensation expense | 77 | 0 | 77 | 0 | 0 | 0 |
Foreign currency translation adjustment | (1,555) | 0 | 0 | 0 | 0 | (1,555) |
Balance at Dec. 31, 2015 | $ 53,788 | $ 82 | $ 20,033 | $ (2,263) | $ 37,812 | $ (1,876) |
Balance (in shares) at Dec. 31, 2015 | 7,928,594 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows from Operating Activities | ||
Net income | $ 6,931 | $ 2,676 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of property and equipment | 2,388 | 2,597 |
Amortization of intangible assets | 288 | 218 |
Provision for bad debt | 711 | 193 |
Deferred income taxes | 573 | (338) |
Stock compensation expense | 77 | 115 |
Tax (benefit) on exercise of stock options | (17) | 0 |
(Gain) loss on sale or disposal of property and equipment | (1,318) | 32 |
(Gain) on sale of marketable securities | (7) | (7) |
Pension plan adjustment | 4 | 0 |
Change in operating assets and liabilities: | ||
Accounts receivable | (1,097) | (2,352) |
Inventories | (1,613) | (445) |
Prepaid expenses and other current assets | (805) | 358 |
Non-current other assets | 124 | 215 |
Accounts payable | 1,273 | (109) |
Accrued liabilities | 2,709 | 573 |
Customer deposits and deferred revenue | (116) | 1,588 |
Income taxes payable | 481 | 92 |
Net cash provided by operating activities | 10,586 | 5,406 |
Cash Flows from Investing Activities | ||
Purchases of marketable securities | (8,209) | (10,476) |
Proceeds from sale of marketable securities | 7,935 | 12,073 |
Purchase of business assets | 0 | (20,016) |
Purchase of intangible assets | 0 | (25) |
Proceeds from sale of property and equipment | 3,795 | 29 |
Capital expenditures | (4,264) | (2,008) |
Net cash used in investing activities | (743) | (20,423) |
Cash Flows from Financing Activities | ||
Cash (paid) received for demand line of credit | (10,000) | 10,000 |
Proceeds from debt obligation | 10,000 | 0 |
Principal payments on long-term debt | (655) | 0 |
Proceeds from exercise of stock options | 87 | 0 |
Net cash (used in) provided by financing activities | (568) | 10,000 |
Effect of exchange rate changes on cash | (456) | (506) |
Net increase (decrease) in cash and cash equivalents | 8,819 | (5,523) |
Cash and cash equivalents, beginning of period | 8,969 | 14,492 |
Cash and cash equivalents, end of period | 17,788 | 8,969 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 125 | 127 |
Cash paid (refund received) for income taxes | 1,409 | (759) |
Supplemental disclosure of non-cash investing and financing activities | ||
Property, plant and equipment acquired through accounts payable | $ 240 | $ 0 |
Nature of Business and Signific
Nature of Business and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Business Description and Accounting Policies [Text Block] | Note 1. Nature of Business and Significant Accounting Policies Gaming Partners International Corporation (GPIC or the Company) is headquartered in North Las Vegas, Nevada. Our business activities include the manufacture and sale of casino currencies, playing cards, table accessories, table layouts, dice, gaming furniture, roulette wheels, and RFID readers and software, all of which are used with casino table games such as blackjack, poker, baccarat, craps, and roulette. The Company has three operating subsidiaries: Gaming Partners International USA, Inc. (GPI USA) (including GPI Mexicana S.A. de C.V. (GPI Mexicana), our maquiladora manufacturing operation in Mexico, and GPI USA Blue Springs, our manufacturing facility in Missouri); Gaming Partners International SAS (GPI SAS); and Gaming Partners International Asia Limited (GPI Asia). Our subsidiaries have the following distribution and product focus: • GPI USA sells in the United States, Canada, the Caribbean, and Latin America. GPI USA sells our full product line, with most of the products manufactured in either San Luis Rio Colorado, Mexico, or Blue Springs, Missouri. The remainder is either manufactured in France or purchased from United States vendors. We warehouse inventory in San Luis, Arizona; Blue Springs, Missouri; and North Las Vegas, Nevada. We have sales offices in North Las Vegas, Nevada; Atlantic City, New Jersey; Gulfport, Mississippi; and Blue Springs, Missouri. • GPI SAS sells primarily in Europe and Africa out of its office in Beaune, France. GPI SAS predominantly sells casino currencies, including both American-style, known as chips, and European-style, known as plaques and jetons. Most of the products sold by GPI SAS are manufactured in France, with the remainder manufactured in Mexico. • GPI Asia, located in Macau S.A.R., China, distributes our full product line in the Asia-Pacific region. GPI Asia also sells table layouts that it manufactures in Macau S.A.R. We are one of the gaming industry’s leading manufacturers and suppliers of casino table game equipment. We custom manufacture and supply casino currencies, playing cards, table layouts, gaming furniture, table accessories, dice, roulette wheels, and RFID readers and software, all of which are used with casino table games such as blackjack, poker, baccarat, craps, and roulette. Our products fall into two categories non-consumable and consumable. Non-consumable products consist of casino currencies, gaming furniture, and RFID solutions. These products typically have a useful life of several years or longer. Sales of non-consumables are typically driven by casino openings, expansions, and rebrandings, as well as replacements in the normal course of business. Consumable products consist of playing cards, table accessories, table layouts, and dice. These products each have a useful life that ranges from several hours for playing cards and dice to several months for layouts. Casinos tend to buy these products annually if not more frequently. The consolidated financial statements include the accounts of GPIC and its wholly-owned subsidiaries GPI USA, GPI SAS, GPI Asia, and GPI Mexicana, our maquiladora manufacturing operation. All material intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. We consider all highly-liquid investments with original maturities of three months or less to be cash and cash equivalents. The Company maintains cash and cash equivalents in various United States banks. Several accounts are in excess of the federally-insured limit of $ 250,000 . The fair value of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and current portion of long-term debt approximates the carrying amount of these financial instruments due to their short-term nature. . We account for our investments in marketable securities as available-for-sale and, as such, they are recorded on our consolidated balance sheets at estimated fair value. We record our investments in marketable securities as cash equivalents due to their short-term nature. Unrealized holding gains and losses are excluded from earnings and are, instead, reported within accumulated other comprehensive loss. We perform ongoing credit evaluations of our customers and for casino currency and most significant orders, such as those orders for casino openings, generally require a deposit prior to commencing work on a customer order. These customer deposits are classified as a current liability on the consolidated balance sheets. We also maintain an allowance for doubtful accounts to state trade receivables at their estimated realizable value. This allowance applies to all customers and is estimated based on a variety of factors, including the length of time the receivables are past due, economic conditions and trends, significant one-time events, and historical experience. Changes are made to the allowance based on our awareness of a particular customer’s ability to meet its financial obligations. Receivables are written-off when management determines that collectability is remote. Inventories are stated at the lower of cost or market value. Cost is determined using a weighted-average method for GPI SAS and a first-in, first-out method for GPI USA and GPI Asia. Market value is determined by comparing inventory item carrying values to estimates of net realizable value. The analysis of net realizable value includes reviewing overall inventory levels, historical and projected sales, or usage of these items, the projected markets for our products, and selling costs. Inventories that we estimate will not be used within one year is considered non-current inventory. . Property and equipment are stated at cost, net of accumulated depreciation. Years Buildings and Improvements 3 - 40 Furniture and Equipment 2 - 15 Vehicles 5 - 7 Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of net tangible and intangible assets acquired. Goodwill is measured and tested for impairment on an annual basis or more frequently if we believe indicators of impairment exist. We test goodwill for impairment using qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, no further testing is performed. If it is more likely than not that the fair value of the reporting unit is less than its carrying amount, we perform a quantitative two-step impairment test. The first step compares the fair value of the reporting unit with its carrying amount, including goodwill. If the carrying amount exceeds fair value, then the second step is used to measure the amount of impairment loss. The Company evaluates the carrying value of long-lived assets (including property and equipment and intangible assets) for possible impairment when events or change in circumstances indicate that the carrying value of an asset may not be recoverable. In general, we will recognize an impairment loss when the sum of undiscounted expected cash flows from the asset is less than the carrying amount of such asset. Intangible assets, such as patents and trademarks, are amortized using the straight-line method over their economic lives. . For casino table game product sales, we record revenue, net of excise and sales taxes, when it is realized, or realizable, and earned. We consider these criteria met when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, collectability is reasonably assured and, if required, acceptance is received from the customer. Shipping costs billed to our customers are reflected in revenues, with the related expense included in cost of revenues. Sales tax collected from customers is excluded from revenue and included in accrued expenses. On a rare occasion, the Company may recognize revenue under a bill and hold arrangement. Under a bill and hold arrangement revenue is recognized when the product is manufactured, completed, invoiced, and segregated from the seller’s other inventory so that it is not subjected to being used to fill other orders. Upon invoicing under this arrangement, ownership has passed to the buyer with no residual warranty obligation or right of return such that the earnings process is complete. The customer must request a bill and hold arrangement, preferably in writing, must commit to the purchase, and has a fixed delivery date. Research and development costs are the costs related to developing new and improved products and manufacturing processes and are charged to expense when incurred and are included in our consolidated statements of income. These costs include staff compensation and related expenses, subcontract costs, materials, and supplies. We recognize a current tax liability or asset for estimated taxes payable or refundable on tax returns for the current year and a deferred tax liability or asset for estimated future tax effects, attributable to temporary differences and carryforwards. GPIC and its subsidiaries file separate income tax returns in their respective jurisdictions. Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the basis of assets and liabilities for financial and income tax reporting. The deferred tax assets and liabilities represent the future tax consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future income taxes. The Company reviews all of its tax positions and makes a determination as to whether its position is more likely than not to be sustained upon examination by tax authorities. If a tax position meets the more-likely-than-not standard, then the related tax benefit is measured based on the cumulative probability that the amount is more likely than not to be realized upon ultimate settlement or disposition of the underlying issue. The Company recognizes interest and penalties related to unrecognized tax positions in the provision for income taxes on the consolidated statements of income. . The financial statements of GPI SAS are measured using the euro as the functional currency. Assets and liabilities of GPI SAS are translated into the U.S. dollar at exchange rates at the balance sheet date. Revenues and expenses are translated into the U.S. dollar at average rates of exchange in effect during the year. The resulting cumulative translation adjustments are recorded within accumulated other comprehensive loss. The financial statements of GPI Asia and GPI Mexicana are measured using the U.S. dollar as the functional currency. Non-monetary assets and liabilities are translated at historical exchange rates, and monetary assets and liabilities are translated at current exchange rates. Exchange gains and losses arising from translation are included in other income and expense in the consolidated statements of income. Transaction gains and losses that arise from exchange rate fluctuations on transactions with third parties denominated in a currency other than the functional currency are included in the results of operations as incurred. Comprehensive income includes net income, unrealized gains and losses on available-for-sale securities recorded net of tax, and foreign currency translation adjustments. The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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. Estimates and assumptions have been made in determining the allowance for doubtful accounts receivable; write-downs of slow moving, excess, and obsolete inventories; the depreciable lives of fixed assets; estimates for the recoverability of long-lived assets, including intangible assets; the recoverability of deferred tax assets; and potential exposures relating to litigation, claims, and assessments. Actual results could differ from those estimates and assumptions. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In May 2014, the FASB issued ASU 2014-09, Revenues from Contracts with Customers (Topic 606) |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block] | Note 2. Acquisition On July 1, 2014, we completed the acquisition of substantially all of the net gaming assets of GemGroup, a manufacturer of playing cards, casino currency, and table layouts primarily sold under the Gemaco ® $20.016 million which 19.75 0.266 2.0 July 1, 2014 In December 2014, we completed the relocation of all our playing card production from Mexico to our facility in Blue Springs, Missouri. The consolidation was part of our strategic plan to improve the efficiency of our playing card production and has provided significant savings in the manufacturing of playing cards. The consolidation resulted in a net headcount reduction of 95 full-time employees. As of December 31, 2014, we incurred one-time costs in the amount of $ 0.6 0.3 Cash $ 19,750 Purchase agreement contingencies 266 Total acquisition consideration $ 20,016 The acquisition consideration was consolidated on the Company’s balance sheet based on estimates of the fair values of assets and liabilities acquired as of the acquisition date and adjusted in December 2014. (dollars in thousands) : Accounts receivable $ 2,317 Inventories 1,961 Prepaid expenses 70 Other current assets 40 Property and equipment 5,126 Goodwill 10,292 Intangible assets 2,004 Accounts payable (1,126) Accrued liabilities (617) Other liabilities (51) Total acquisition consideration $ 20,016 The Company’s consolidated net revenues for the six months ended December 31, 2014 included $ 11.2 in thousands, except per share data Year Ended December 31, 2014 Net revenues $ 73,353 Net income attributable to common stockholders 2,111 Earnings per shareBasic 0.27 Earnings per shareDiluted 0.26 The unaudited pro forma results of consolidated operations do not purport to be indicative of the results that would have been obtained if the above acquisition had actually occurred as of the dates indicated or of those results that may be obtained in the future. These unaudited pro forma results of consolidated operations were derived, in part, from the historical financial statements of GemGroup and other available information and assumptions believed to be reasonable under the circumstances. |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities | 12 Months Ended |
Dec. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Note 3. Cash, Cash Equivalents, and Marketable Securities We hold our cash, cash equivalents, and marketable securities in various financial institutions in the countries shown below. Substantially all accounts have balances in excess of government-insured limits. 2015 2014 Cash and Cash and Cash Marketable Cash Marketable Equivalents Securities Total Equivalents Securities Total United States (including Mexico) $ 12,861 $ - $ 12,861 $ 3,160 $ - $ 3,160 France 887 3,503 4,390 644 3,597 4,241 Macau S.A.R., China 4,040 - 4,040 5,165 - 5,165 Total $ 17,788 $ 3,503 $ 21,291 $ 8,969 $ 3,597 $ 12,566 2015 2014 Unrealized Unrealized Cost Gain/(Loss) Fair Value Cost Gain/(Loss) Fair Value Certificates of deposit $ 2,727 $ - $ 2,727 $ 1,215 $ - $ 1,215 Bond mutual funds 776 - 776 2,382 - 2,382 Total marketable securities $ 3,503 $ - $ 3,503 $ 3,597 $ - $ 3,597 We present our marketable securities at their estimated fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We have determined that all of our marketable securities are Level 1 financial instruments, with asset values recorded at quoted prices in active markets for identical assets. |
Accounts Receivable and Allowan
Accounts Receivable and Allowance for Doubtful Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Note 4. Accounts Receivable and Allowance for Doubtful Accounts At December 31, 2015, one Macau S.A.R. casino customer, whose account is current, accounted for 33 30 Balance at Write-offs, Beginning of Net of Exchange Balance at Year Provision Recoveries Rate Effect End of Period 2015 $ 302 $ 711 $ (19) $ (4) $ 990 2014 $ 114 $ 193 $ (5) $ - $ 302 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 5. Inventories 2015 2014 Raw materials $ 7,653 $ 5,747 Work in progress 668 1,257 Finished goods 2,548 2,582 Total inventories $ 10,869 $ 9,586 We classified a portion of our inventories as non-current because we do not expect this portion to be used within one year. 2015 2014 Current $ 10,199 $ 9,063 Non-current 670 523 Total inventories $ 10,869 $ 9,586 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets [Text Block] | Note 6. Other Current Assets 2015 2014 Deposits $ 478 $ 648 Income tax-related assets 135 1,284 Refundable value-added tax 818 395 Other, net 145 (54) Total other current assets $ 1,576 $ 2,273 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7. Property and Equipment 2015 2014 Land $ 520 $ 1,784 Buildings and improvements 6,839 9,857 Equipment and furniture 26,912 26,026 Vehicles 403 368 Construction in progress 1,403 7 36,077 38,042 Less accumulated depreciation (21,975) (22,955) Property and equipment, net $ 14,102 $ 15,087 Depreciation expense for the years ended December 31, 2015 and 2014 was $ 2,388,000 2,597,000 1.4 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | Note 8. Goodwill and Intangible Assets We have goodwill valued at $ 10,292,000 2015 2014 Gross Net Gross Net Estimated Carrying Accum Carrying Carrying Accum Carrying Useful Life Amount Amort Amount Amount Amort Amount (Years) Trademarks $ 1,772 $ (454) $ 1,318 $ 1,772 $ (327) $ 1,445 10-15 Customer list 1,323 (245) 1,078 1,327 (107) 1,220 10-15 Patents 542 (520) 22 542 (503) 39 13-14 Other intangible assets 372 (285) 87 372 (282) 90 3-10 Total intangible assets $ 4,009 $ (1,504) $ 2,505 $ 4,013 $ (1,219) $ 2,794 Amortization expense for intangible assets for the years ended December 31, 2015 and 2014 was $ 288,000 218,000 Amortization Year Expense 2016 $ 273 2017 256 2018 241 2019 235 2020 235 Thereafter 1,265 Total $ 2,505 |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Liabilities [Abstract] | |
Accrued Liabilities Disclosure [Text Block] | Note 9. Accrued Liabilities 2015 2014 Accrued bonuses and commissions $ 1,590 $ 604 Accrued salaries, wages, and related costs 1,308 977 Accrued vacation 906 894 Miscellaneous taxes 576 632 Accrued legal fees 550 18 Other 1,526 781 Total accrued liabilities $ 6,456 $ 3,906 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 10. Debt On June 26, 2015, the Company entered into a Credit Agreement with Nevada State Bank (Lender) for a combined $ 15.0 10.0 5.0 June 26, 2022 The Company borrowed the full amount under the Term Loan and repaid its existing $ 10.0 Interest on funds borrowed under the Term Loan and the Revolving Loan will be charged at a rate per annum equal to LIBOR plus 2.25%. The Term Loan has a straight-line seven year amortization schedule. Long Term Year Debt 2016 $ 1,343 2017 1,376 2018 1,409 2019 1,444 2020 1,480 Thereafter 2,293 $ 9,345 The Credit Agreement contains customary representations, warranties, and events of default, and affirmative, negative and financial covenants. The covenants contain, among other things, limitations on the Company's and its subsidiaries' ability to merge, consolidate, dispose of assets, or incur liens or certain indebtedness. The Company is required to maintain a fixed charge coverage ratio greater than 1.15 to 1.00 and leverage ratio less than 3.00 to 1.00. The Company and its subsidiary, GPI USA, granted to the Lender a first priority security interest in substantially all of their assets as collateral. In addition, the Credit Agreement is guaranteed by the Company’s subsidiaries GPI USA and GPI Asia. The above description of the material terms and conditions of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full texts of the Credit Agreement, the Pledge and Security Agreement and Irrevocable Proxy and the Guaranty, which are filed as Exhibits 10.1, 10.2, and 10.3 to Form 8-K filed with the SEC on July 2, 2015. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 11. Commitments and Contingencies Operating Lease Commitments The Company has various operating leases that are used in the normal course of business. Our operating leases consist of buildings and equipment. Operating lease expense for the years ended December 31, 2015 and 2014 was $ 841,000 749,000 15,000 16,000 18,000 Minimum Lease Year Payments 2016 $ 1,018 2017 842 2018 688 2019 270 2020 274 Thereafter 428 Total $ 3,520 Legal Proceedings and Contingencies Liabilities for material claims against the Company are accrued when a loss is considered probable and can be reasonably estimated. Legal costs associated with claims are expensed as incurred. From time to time we are engaged in disputes and claims that arise in the normal course of business. We believe the ultimate outcome of these proceedings will not have a material adverse impact on our consolidated financial position or results of operations, but the outcome of these actions is inherently difficult to predict. There can be no assurance that we will prevail in any such litigation. Liabilities for material claims against us are accrued when a loss is considered probable and can be reasonably estimated. Legal costs associated with claims are expensed as incurred. Employment Agreements The Company has employment agreements with key employees which include severance commitments in the event the Company terminates the employee without cause. Total commitments under the agreements aggregate approximately $ 789,000 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Note 12. Accumulated Other Comprehensive Loss 2015 2014 Foreign currency translation $ (1,876) $ (322) Unrealized gain on securities, net of tax - 1 Total accumulated other comprehensive loss $ (1,876) $ (321) |
Geographic and Product Line Inf
Geographic and Product Line Information | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 13. Geographic and Product Line Information We manufacture and sell casino table game equipment in one operating segment - casino table game products. Although the Company derives its revenues from a number of different product lines, the Company neither allocates resources based on the operating results from the individual product lines, nor manages each individual product line as a separate business unit. Our chief operating decision maker is our Chief Executive Officer (CEO). The CEO manages our operations on a consolidated basis to make decisions about overall corporate resource allocation and to assess overall corporate profitability. Our CEO is also the chief operating manager for each of our entities in the United States, France, and Macau S.A.R.; that is, the individual locations do not have “segment,” or “product line,” managers who report to our CEO. 2015 2014 Revenues The Americas $ 53,211 68.0 % $ 36,367 59.7 % Asia-Pacific 21,341 27.3 % 21,410 35.1 % Europe and Africa 3,686 4.7 % 3,195 5.2 % Total $ 78,238 100.0 % $ 60,972 100.0 % 2015 2014 Casino currency without RFID $ 17,762 22.8 % $ 14,511 23.8 % Casino currency with RFID 12,852 16.4 % 14,315 23.5 % Total casino currency 30,614 39.2 % 28,826 47.3 % Playing cards 24,171 30.9 % 15,139 24.8 % Table accessories and other products 7,243 9.3 % 3,303 5.4 % Table layouts 6,199 7.9 % 5,352 8.8 % Dice 2,685 3.4 % 2,452 4.0 % RFID solutions 2,186 2.8 % 1,566 2.6 % Gaming furniture 1,990 2.5 % 1,957 3.2 % Shipping 3,150 4.0 % 2,377 3.9 % Total $ 78,238 100.0 % $ 60,972 100.0 % In 2015, we had one Macau S.A.R casino customer that accounted for 10 2015 2014 United States $ 7,000 $ 8,199 France 3,544 3,699 Mexico 3,249 3,055 Macau S.A.R., China 309 134 Total $ 14,102 $ 15,087 2015 2014 United States $ 2,006 $ 2,249 Macau S.A.R., China 497 535 France 2 10 Total $ 2,505 $ 2,794 |
Pension Plans
Pension Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 14. Pension Plans For employees of GPI SAS, we sponsor a non-contributory, defined-benefit pension plan (the Pension Plan) which funds a mandatory payment when employees retire at age 65. The lump-sum benefit amount is based on years of service, job classification, and compensation in the 12 months prior to retirement. 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ 472 $ 472 Service cost 28 31 Interest cost 9 16 Actuarial loss 5 13 Benefits paid (7) - Effect of foreign exchange rate changes (49) (60) Benefit obligation at end of year $ 458 $ 472 Change in plan assets: Fair value of plan assets at beginning of year $ 401 $ 466 Actual loss (return) on plan assets 2 (11) Effect of foreign exchange rate changes (41) (54) Fair value of plan assets at end of year 362 401 Funded status and accrued benefit cost $ (96) $ (71) At December 31, 2015 and 2014, the accrued benefit cost of $ 96,000 71,000 2015 2014 Worldwide bond fund $ 165 $ 186 Guaranteed equity fund 58 73 European equity fund 139 142 Fair value of plan assets at end of year $ 362 $ 401 GPIC management is responsible for our investment strategy of growing Pension Plan assets, while maintaining a reasonable amount of risk over the long-term investment horizon. In order to reduce risk, Pension Plan assets are diversified across several classes of investments. We did not make any contribution to the Pension Plan in either 2015 or 2014. 2015 2014 Assumptions: Discount rate 2.00 % 2.00 % Rate of compensation increase 2.00 % 2.00 % The accumulated benefit obligation was $ 370,000 377,000 2015 2014 Service-cost benefits earned during the period $ 28 $ 31 Interest expense on benefit obligation 9 16 Actual (return) loss on plan assets (2) 11 Actuarial loss 5 13 Net pension expense $ 40 $ 71 Projected benefit payments from the Pension Plan as of December 31, 2015 are estimated at $ 2,000 162,000 We also sponsor a 401(k) plan for employees in the United States (the 401K Plan) who have worked for us for over six months and are 21 years of age or older. Company contributions to the 401K Plan are based on the amounts contributed by eligible employees. Eligible employees can elect to contribute into the 401K Plan up to the lesser of the IRS annual limit or 15 percent of their earnings. We contribute $0.50 for each $1.00 contributed by a participant in the 401K Plan up to 4 percent of the participant’s wages. The Company contributions made to the 401K Plan for the years ended December 31, 2015 and 2014 were $ 110,000 75,000 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 15. Stockholders’ Equity On December 1, 2011, the Board of Directors approved a stock repurchase program which authorized the repurchase of up to 5 409,951 498,512 282,922 2.1 7.30 215,590 |
Stock Option Programs and Share
Stock Option Programs and Share-based Compensation Expense | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 16. Stock Option Programs and Share-based Compensation Expense We have one active stock option program which is the 1994 Directors’ Stock Option Plan, as amended (the Directors’ Plan). The Board of Directors extended the Directors’ Plan until January 31, 2019, subject to stockholder approval at the Company’s 2016 annual meeting of stockholders. We are also party to a Stock Option Agreement with Gregory S. Gronau (Gronau Agreement). The Directors’ Plan provides that each non-employee director, upon joining the Board of Directors, will receive an initial option to purchase 6,000 2,000 1,500 In 2008, the Board of Directors amended and the stockholders subsequently approved an amendment to the Directors’ Plan to: (i) increase the total number of shares of common stock for which options may be granted to 450,000 100,000 The Gronau Agreement granted to Mr. Gronau an option to purchase 150,000 20,000 30,000 40,000 Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Exercise Term Value Shares Price (Years) (in thousands) Outstanding at January 1, 2014 358,500 $ 7.54 Granted 25,500 8.18 Outstanding at December 31, 2014 384,000 7.60 Granted 24,750 9.59 Expired (3,500) 8.62 Exercised (12,500) 6.97 Outstanding at December 31, 2015 392,750 $ 7.65 4.3 $ 782 Exercisable at December 31, 2015 377,250 $ 7.56 4.1 $ 782 For the year ended December 31, 2015, the total intrinsic value of options exercised was $ 87,000 We estimate the fair value of each stock option award on the grant date using the Black-Scholes valuation model. Dividends and expected volatility are based on historical factors related to our common stock. The risk-free rate is based on United States Treasury rates appropriate for the expected term, which is based on the contractual term of the options, as well as historical exercise and termination behavior. Option valuation assumptions: 2015 2014 Dividend yield 3.0 % 1.1 % Expected volatility 34.1 % 40.3 % Risk-free interest rate 1.50 % 1.65 % Expected term of options 5.6 yrs 5.6 yrs Weighted-average fair value of options granted during the period $ 3.09 $ 2.99 2015 2014 Share-based compensation $ 77 $ 115 Estimated tax benefit (28) (41) Total share-based compensation, net of tax benefit $ 49 $ 74 |
Other Income and Expense
Other Income and Expense | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | Note 17. Other Income and Expense 2015 2014 Interest income $ 12 $ 138 Interest expense (248) (127) Gain on foreign currency transactions 38 214 Other income 25 2 Total other (expense) income, net $ (173) $ 227 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 18. Income Taxes 2015 2014 Current: U.S. Federal $ 1,207 $ - U.S. State 251 23 Foreign 464 390 Total Current 1,922 413 Deferred: U.S. Federal 673 (631) U.S. State (127) (37) Foreign 337 (6) Total Deferred 883 (674) Income tax provision (benefit) $ 2,805 $ (261) 2015 2014 Foreign $ 5,067 $ 3,981 United States 4,669 (1,566) Income before income taxes $ 9,736 $ 2,415 2015 2014 Computed expected income tax expense 34.0 % 34.0 % State income taxes, net of federal benefits 1.7 % (0.7) % Subpart F income adjustment 24.5 % 8.6 % Foreign rate differential (excluding research credit) (10.0) % (26.2) % Change in valuation allowance (20.4) % (13.9) % French research and low wage credit (2.3) % (14.6) % Other, net 1.3 % 1.9 % Income tax expense 28.8 % (10.8) % 2015 2014 Deferred tax assets: Tax credits $ 1,602 $ 4,392 Property and equipment 497 893 Stock compensation 615 605 French deferred assets 279 345 Bad debt reserves and inventory 828 463 Operating loss carry forwards 7 36 Other 672 102 Total gross deferred tax assets 4,500 6,836 Less: valuation allowance - (2,024) Total net deferred tax assets 4,500 4,812 Deferred tax liabilities: Excess book basis in shares of GPI-SAS 1,603 1,503 French deferred liabilities 338 456 Intangible assets 379 111 Total deferred tax liabilities 2,320 2,070 Deferred tax assets, net $ 2,180 $ 2,742 For our investment in GPI Asia, deferred taxes are not being provided on unrepatriated foreign earnings. These earnings are considered permanently reinvested, since it is management’s intention to reinvest these foreign earnings in future operations. We project that we will have sufficient cash flow in the U.S. and will not need to repatriate the foreign earnings from GPI Asia to finance U.S. operations. Except for the amount of the deemed dividend discussed below, the Company continues to assert that earnings from GPI Asia will be permanently reinvested. As of December 31, 2015, the Company had zero unremitted earnings for GPI Asia. We are subject to taxation in the U.S. and various states and foreign jurisdictions. With few exceptions, the tax years 2012 through 2015 remain open to examination under the statute of limitations by the U.S. Internal Revenue Service and various states for GPIC and GPI USA, by the French Tax Administration for GPI SAS, and the Government of the Macau Special Administrative Region - Financial Services Bureau for GPI Asia. In 2015, the French Tax Administration started an examination of GPI SAS for tax years 2013 and 2012 that is on-going. As of December 31, 2014, we had a valuation allowance of $ 2.0 7.3 1.6 As of December 31, 2015, we have state net operating loss carryforwards of $ 0.1 which will expire from 2017 through 2034 2015 2014 Balance at beginning of year $ - $ - Increases related to current year tax positions 241 - Reductions due to settlements with taxing authorities - - Foreign currency translation - - Balance at end of year $ 241 $ - All of the liability as of December 31, 2015 would affect our effective tax rate if recognized and amounts of interest and penalties are not significant. The Company anticipates that the balance of the unrecognized tax benefits will be eliminated within the next twelve months . |
Earnings per Share (EPS)
Earnings per Share (EPS) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 19. Earnings per Share (EPS) 2015 2014 Weighted-average number of common shares outstanding - basic 7,926 7,916 Potential dilution from equity grants 114 99 Weighted-average number of common shares outstanding - diluted 8,040 8,015 We have certain outstanding stock options to purchase common stock which have exercise prices greater than the average market price. These anti-dilutive options have been excluded from the computation of diluted net income per share. Outstanding anti-dilutive options for the years ended December 31, 2015 and 2014 totaled to 46,500 49,500 |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 20. Related-Party Transactions We lease two manufacturing facilities totaling approximately 90,000 0.31 28,000 |
Nature of Business and Signif28
Nature of Business and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation and Presentation. The consolidated financial statements include the accounts of GPIC and its wholly-owned subsidiaries GPI USA, GPI SAS, GPI Asia, and GPI Mexicana, our maquiladora manufacturing operation. All material intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents. We consider all highly-liquid investments with original maturities of three months or less to be cash and cash equivalents. The Company maintains cash and cash equivalents in various United States banks. Several accounts are in excess of the federally-insured limit of $ 250,000 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments . The fair value of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and current portion of long-term debt approximates the carrying amount of these financial instruments due to their short-term nature. |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities . We account for our investments in marketable securities as available-for-sale and, as such, they are recorded on our consolidated balance sheets at estimated fair value. We record our investments in marketable securities as cash equivalents due to their short-term nature. Unrealized holding gains and losses are excluded from earnings and are, instead, reported within accumulated other comprehensive loss. |
Accounts Receivables And Customer Deposits [Policy Text Block] | Accounts Receivables and Customer Deposits. We perform ongoing credit evaluations of our customers and for casino currency and most significant orders, such as those orders for casino openings, generally require a deposit prior to commencing work on a customer order. These customer deposits are classified as a current liability on the consolidated balance sheets. We also maintain an allowance for doubtful accounts to state trade receivables at their estimated realizable value. This allowance applies to all customers and is estimated based on a variety of factors, including the length of time the receivables are past due, economic conditions and trends, significant one-time events, and historical experience. Changes are made to the allowance based on our awareness of a particular customer’s ability to meet its financial obligations. Receivables are written-off when management determines that collectability is remote. |
Inventory, Policy [Policy Text Block] | Inventories. Inventories are stated at the lower of cost or market value. Cost is determined using a weighted-average method for GPI SAS and a first-in, first-out method for GPI USA and GPI Asia. Market value is determined by comparing inventory item carrying values to estimates of net realizable value. The analysis of net realizable value includes reviewing overall inventory levels, historical and projected sales, or usage of these items, the projected markets for our products, and selling costs. Inventories that we estimate will not be used within one year is considered non-current inventory. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment . Property and equipment are stated at cost, net of accumulated depreciation. Years Buildings and Improvements 3 - 40 Furniture and Equipment 2 - 15 Vehicles 5 - 7 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill. Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of net tangible and intangible assets acquired. Goodwill is measured and tested for impairment on an annual basis or more frequently if we believe indicators of impairment exist. We test goodwill for impairment using qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, no further testing is performed. If it is more likely than not that the fair value of the reporting unit is less than its carrying amount, we perform a quantitative two-step impairment test. The first step compares the fair value of the reporting unit with its carrying amount, including goodwill. If the carrying amount exceeds fair value, then the second step is used to measure the amount of impairment loss. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-Lived and Intangible Assets. The Company evaluates the carrying value of long-lived assets (including property and equipment and intangible assets) for possible impairment when events or change in circumstances indicate that the carrying value of an asset may not be recoverable. In general, we will recognize an impairment loss when the sum of undiscounted expected cash flows from the asset is less than the carrying amount of such asset. Intangible assets, such as patents and trademarks, are amortized using the straight-line method over their economic lives. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition . For casino table game product sales, we record revenue, net of excise and sales taxes, when it is realized, or realizable, and earned. We consider these criteria met when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, collectability is reasonably assured and, if required, acceptance is received from the customer. Shipping costs billed to our customers are reflected in revenues, with the related expense included in cost of revenues. Sales tax collected from customers is excluded from revenue and included in accrued expenses. We occasionally enter into multiple-element arrangements with our customers to provide RFID solutions. Such transactions may include deliverables such as RFID equipment, installation and training services, embedded RFID software licenses, and limited software support services. In such arrangements, RFID equipment and embedded RFID software work together to deliver the functionality purchased by our customer. Therefore, we apply the provisions of multiple-element accounting to separate the deliverables and allocate the total arrangement consideration based upon relative estimated selling prices. Each unit of accounting is then accounted for under the applicable revenue recognition guidance. For RFID equipment and related services, revenue generally is recorded when all customer-defined acceptance criteria are satisfied. For RFID software support services, revenue generally is amortized over the term of the support contract. On a rare occasion, the Company may recognize revenue under a bill and hold arrangement. Under a bill and hold arrangement revenue is recognized when the product is manufactured, completed, invoiced, and segregated from the seller’s other inventory so that it is not subjected to being used to fill other orders. Upon invoicing under this arrangement, ownership has passed to the buyer with no residual warranty obligation or right of return such that the earnings process is complete. The customer must request a bill and hold arrangement, preferably in writing, must commit to the purchase, and has a fixed delivery date. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development. Research and development costs are the costs related to developing new and improved products and manufacturing processes and are charged to expense when incurred and are included in our consolidated statements of income. These costs include staff compensation and related expenses, subcontract costs, materials, and supplies. |
Income Tax, Policy [Policy Text Block] | Income Taxes. We recognize a current tax liability or asset for estimated taxes payable or refundable on tax returns for the current year and a deferred tax liability or asset for estimated future tax effects, attributable to temporary differences and carryforwards. GPIC and its subsidiaries file separate income tax returns in their respective jurisdictions. Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the basis of assets and liabilities for financial and income tax reporting. The deferred tax assets and liabilities represent the future tax consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future income taxes. The Company reviews all of its tax positions and makes a determination as to whether its position is more likely than not to be sustained upon examination by tax authorities. If a tax position meets the more-likely-than-not standard, then the related tax benefit is measured based on the cumulative probability that the amount is more likely than not to be realized upon ultimate settlement or disposition of the underlying issue. The Company recognizes interest and penalties related to unrecognized tax positions in the provision for income taxes on the consolidated statements of income. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Transactions . The financial statements of GPI SAS are measured using the euro as the functional currency. Assets and liabilities of GPI SAS are translated into the U.S. dollar at exchange rates at the balance sheet date. Revenues and expenses are translated into the U.S. dollar at average rates of exchange in effect during the year. The resulting cumulative translation adjustments are recorded within accumulated other comprehensive loss. The financial statements of GPI Asia and GPI Mexicana are measured using the U.S. dollar as the functional currency. Non-monetary assets and liabilities are translated at historical exchange rates, and monetary assets and liabilities are translated at current exchange rates. Exchange gains and losses arising from translation are included in other income and expense in the consolidated statements of income. Transaction gains and losses that arise from exchange rate fluctuations on transactions with third parties denominated in a currency other than the functional currency are included in the results of operations as incurred. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income. Comprehensive income includes net income, unrealized gains and losses on available-for-sale securities recorded net of tax, and foreign currency translation adjustments. |
Use of Estimates, Policy [Policy Text Block] | Estimates. The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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. Estimates and assumptions have been made in determining the allowance for doubtful accounts receivable; write-downs of slow moving, excess, and obsolete inventories; the depreciable lives of fixed assets; estimates for the recoverability of long-lived assets, including intangible assets; the recoverability of deferred tax assets; and potential exposures relating to litigation, claims, and assessments. Actual results could differ from those estimates and assumptions. |
New Accounting Pronouncements, Policy [Policy Text Block] | In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In May 2014, the FASB issued ASU 2014-09, Revenues from Contracts with Customers (Topic 606) |
Nature of Business and Signif29
Nature of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Estimated Useful Lives [Table Text Block] | Depreciation is computed using the straight-line method for financial reporting purposes over the following estimated useful lives: Years Buildings and Improvements 3 - 40 Furniture and Equipment 2 - 15 Vehicles 5 - 7 |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | Cash $ 19,750 Purchase agreement contingencies 266 Total acquisition consideration $ 20,016 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The allocation of the acquisition consideration was as follows (dollars in thousands) : Accounts receivable $ 2,317 Inventories 1,961 Prepaid expenses 70 Other current assets 40 Property and equipment 5,126 Goodwill 10,292 Intangible assets 2,004 Accounts payable (1,126) Accrued liabilities (617) Other liabilities (51) Total acquisition consideration $ 20,016 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma results of consolidated operations for the fiscal year ended December 31, 2014 have been prepared as if the acquisition of the gaming assets of GemGroup had occurred at January 1, 2014 ( in thousands, except per share data Year Ended December 31, 2014 Net revenues $ 73,353 Net income attributable to common stockholders 2,111 Earnings per shareBasic 0.27 Earnings per shareDiluted 0.26 |
Cash, Cash Equivalents, and M31
Cash, Cash Equivalents, and Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents and Marketable Securities [Table Text Block] | The following summarizes our holdings (in thousands): 2015 2014 Cash and Cash and Cash Marketable Cash Marketable Equivalents Securities Total Equivalents Securities Total United States (including Mexico) $ 12,861 $ - $ 12,861 $ 3,160 $ - $ 3,160 France 887 3,503 4,390 644 3,597 4,241 Macau S.A.R., China 4,040 - 4,040 5,165 - 5,165 Total $ 17,788 $ 3,503 $ 21,291 $ 8,969 $ 3,597 $ 12,566 |
Available-for-sale Securities [Table Text Block] | Available-for-sale marketable securities consist of investments in securities such as certificates of deposit offered by French banks and bond mutual funds (in thousands): 2015 2014 Unrealized Unrealized Cost Gain/(Loss) Fair Value Cost Gain/(Loss) Fair Value Certificates of deposit $ 2,727 $ - $ 2,727 $ 1,215 $ - $ 1,215 Bond mutual funds 776 - 776 2,382 - 2,382 Total marketable securities $ 3,503 $ - $ 3,503 $ 3,597 $ - $ 3,597 |
Accounts Receivable and Allow32
Accounts Receivable and Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Allowance for Doubtful Accounts Receivable Roll Forward [Table Text Block] | The allowance for doubtful accounts consists of the following (in thousands): Balance at Write-offs, Beginning of Net of Exchange Balance at Year Provision Recoveries Rate Effect End of Period 2015 $ 302 $ 711 $ (19) $ (4) $ 990 2014 $ 114 $ 193 $ (5) $ - $ 302 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following at December 31 (in thousands): 2015 2014 Raw materials $ 7,653 $ 5,747 Work in progress 668 1,257 Finished goods 2,548 2,582 Total inventories $ 10,869 $ 9,586 |
Schedule of Inventory, Noncurrent [Table Text Block] | The classification of our inventories on our consolidated balance sheets is as follows (in thousands): 2015 2014 Current $ 10,199 $ 9,063 Non-current 670 523 Total inventories $ 10,869 $ 9,586 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets [Table Text Block] | Other current assets consist of the following at December 31 (in thousands): 2015 2014 Deposits $ 478 $ 648 Income tax-related assets 135 1,284 Refundable value-added tax 818 395 Other, net 145 (54) Total other current assets $ 1,576 $ 2,273 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment consists of the following at December 31 (in thousands): 2015 2014 Land $ 520 $ 1,784 Buildings and improvements 6,839 9,857 Equipment and furniture 26,912 26,026 Vehicles 403 368 Construction in progress 1,403 7 36,077 38,042 Less accumulated depreciation (21,975) (22,955) Property and equipment, net $ 14,102 $ 15,087 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Intangible assets consist of the following at December 31 (in thousands): 2015 2014 Gross Net Gross Net Estimated Carrying Accum Carrying Carrying Accum Carrying Useful Life Amount Amort Amount Amount Amort Amount (Years) Trademarks $ 1,772 $ (454) $ 1,318 $ 1,772 $ (327) $ 1,445 10-15 Customer list 1,323 (245) 1,078 1,327 (107) 1,220 10-15 Patents 542 (520) 22 542 (503) 39 13-14 Other intangible assets 372 (285) 87 372 (282) 90 3-10 Total intangible assets $ 4,009 $ (1,504) $ 2,505 $ 4,013 $ (1,219) $ 2,794 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table provides estimated amortization expense for the years ending December 31 (in thousands): Amortization Year Expense 2016 $ 273 2017 256 2018 241 2019 235 2020 235 Thereafter 1,265 Total $ 2,505 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Liabilities [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consist of the following at December 31 (in thousands): 2015 2014 Accrued bonuses and commissions $ 1,590 $ 604 Accrued salaries, wages, and related costs 1,308 977 Accrued vacation 906 894 Miscellaneous taxes 576 632 Accrued legal fees 550 18 Other 1,526 781 Total accrued liabilities $ 6,456 $ 3,906 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Estimated repayment obligations for the principal balance of long-term debt are as follows (in thousands): Long Term Year Debt 2016 $ 1,343 2017 1,376 2018 1,409 2019 1,444 2020 1,480 Thereafter 2,293 $ 9,345 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | The following schedule reflects our future minimum lease payments under operating leases, including related-party payments (see Note 20. Related-Party Transactions) for the years ending December 31 (in thousands): Minimum Lease Year Payments 2016 $ 1,018 2017 842 2018 688 2019 270 2020 274 Thereafter 428 Total $ 3,520 |
Accumulated Other Comprehensi40
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated other comprehensive income consists of the following at December 31 (in thousands): 2015 2014 Foreign currency translation $ (1,876) $ (322) Unrealized gain on securities, net of tax - 1 Total accumulated other comprehensive loss $ (1,876) $ (321) |
Geographic and Product Line I41
Geographic and Product Line Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Revenue from Foreign Countries by Geographic Area [Table Text Block] | The following table presents certain data by geographic area for the years ended December 31 (in thousands): 2015 2014 Revenues The Americas $ 53,211 68.0 % $ 36,367 59.7 % Asia-Pacific 21,341 27.3 % 21,410 35.1 % Europe and Africa 3,686 4.7 % 3,195 5.2 % Total $ 78,238 100.0 % $ 60,972 100.0 % |
Schedule of Product Revenue [Table Text Block] | The following table represents our net sales by product line for the years ended December 31 (in thousands): 2015 2014 Casino currency without RFID $ 17,762 22.8 % $ 14,511 23.8 % Casino currency with RFID 12,852 16.4 % 14,315 23.5 % Total casino currency 30,614 39.2 % 28,826 47.3 % Playing cards 24,171 30.9 % 15,139 24.8 % Table accessories and other products 7,243 9.3 % 3,303 5.4 % Table layouts 6,199 7.9 % 5,352 8.8 % Dice 2,685 3.4 % 2,452 4.0 % RFID solutions 2,186 2.8 % 1,566 2.6 % Gaming furniture 1,990 2.5 % 1,957 3.2 % Shipping 3,150 4.0 % 2,377 3.9 % Total $ 78,238 100.0 % $ 60,972 100.0 % |
Schedule of Property Plant and Equipment by Geographic Area [Table Text Block] | The following table represents our property and equipment, net by geographic area at December 31 (in thousands): 2015 2014 United States $ 7,000 $ 8,199 France 3,544 3,699 Mexico 3,249 3,055 Macau S.A.R., China 309 134 Total $ 14,102 $ 15,087 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table represents our intangible assets, net by geographic area at December 31 (in thousands): 2015 2014 United States $ 2,006 $ 2,249 Macau S.A.R., China 497 535 France 2 10 Total $ 2,505 $ 2,794 |
Pension Plans (Tables)
Pension Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ 472 $ 472 Service cost 28 31 Interest cost 9 16 Actuarial loss 5 13 Benefits paid (7) - Effect of foreign exchange rate changes (49) (60) Benefit obligation at end of year $ 458 $ 472 Change in plan assets: Fair value of plan assets at beginning of year $ 401 $ 466 Actual loss (return) on plan assets 2 (11) Effect of foreign exchange rate changes (41) (54) Fair value of plan assets at end of year 362 401 Funded status and accrued benefit cost $ (96) $ (71) |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | 2015 2014 Worldwide bond fund $ 165 $ 186 Guaranteed equity fund 58 73 European equity fund 139 142 Fair value of plan assets at end of year $ 362 $ 401 |
Schedule of Assumptions Used [Table Text Block] | 2015 2014 Assumptions: Discount rate 2.00 % 2.00 % Rate of compensation increase 2.00 % 2.00 % |
Schedule of Net Benefit Costs [Table Text Block] | 2015 2014 Service-cost benefits earned during the period $ 28 $ 31 Interest expense on benefit obligation 9 16 Actual (return) loss on plan assets (2) 11 Actuarial loss 5 13 Net pension expense $ 40 $ 71 |
Stock Option Programs and Sha43
Stock Option Programs and Share-based Compensation Expense (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Exercise Term Value Shares Price (Years) (in thousands) Outstanding at January 1, 2014 358,500 $ 7.54 Granted 25,500 8.18 Outstanding at December 31, 2014 384,000 7.60 Granted 24,750 9.59 Expired (3,500) 8.62 Exercised (12,500) 6.97 Outstanding at December 31, 2015 392,750 $ 7.65 4.3 $ 782 Exercisable at December 31, 2015 377,250 $ 7.56 4.1 $ 782 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option valuation assumptions: 2015 2014 Dividend yield 3.0 % 1.1 % Expected volatility 34.1 % 40.3 % Risk-free interest rate 1.50 % 1.65 % Expected term of options 5.6 yrs 5.6 yrs Weighted-average fair value of options granted during the period $ 3.09 $ 2.99 |
Schedule of Share-based Compensation, Activity [Table Text Block] | 2015 2014 Share-based compensation $ 77 $ 115 Estimated tax benefit (28) (41) Total share-based compensation, net of tax benefit $ 49 $ 74 |
Other Income and Expense (Table
Other Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Other income and expense consists of the following for the years ended December 31 (in thousands): 2015 2014 Interest income $ 12 $ 138 Interest expense (248) (127) Gain on foreign currency transactions 38 214 Other income 25 2 Total other (expense) income, net $ (173) $ 227 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table provides an analysis of our provision for income taxes for the years ended December 31 (in thousands): 2015 2014 Current: U.S. Federal $ 1,207 $ - U.S. State 251 23 Foreign 464 390 Total Current 1,922 413 Deferred: U.S. Federal 673 (631) U.S. State (127) (37) Foreign 337 (6) Total Deferred 883 (674) Income tax provision (benefit) $ 2,805 $ (261) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income (loss) before income taxes consisted of the following for the years ended December 31 (in thousands): 2015 2014 Foreign $ 5,067 $ 3,981 United States 4,669 (1,566) Income before income taxes $ 9,736 $ 2,415 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 Computed expected income tax expense 34.0 % 34.0 % State income taxes, net of federal benefits 1.7 % (0.7) % Subpart F income adjustment 24.5 % 8.6 % Foreign rate differential (excluding research credit) (10.0) % (26.2) % Change in valuation allowance (20.4) % (13.9) % French research and low wage credit (2.3) % (14.6) % Other, net 1.3 % 1.9 % Income tax expense 28.8 % (10.8) % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The primary components of net deferred income tax assets at December 31 are as follows (in thousands): 2015 2014 Deferred tax assets: Tax credits $ 1,602 $ 4,392 Property and equipment 497 893 Stock compensation 615 605 French deferred assets 279 345 Bad debt reserves and inventory 828 463 Operating loss carry forwards 7 36 Other 672 102 Total gross deferred tax assets 4,500 6,836 Less: valuation allowance - (2,024) Total net deferred tax assets 4,500 4,812 Deferred tax liabilities: Excess book basis in shares of GPI-SAS 1,603 1,503 French deferred liabilities 338 456 Intangible assets 379 111 Total deferred tax liabilities 2,320 2,070 Deferred tax assets, net $ 2,180 $ 2,742 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2015 2014 Balance at beginning of year $ - $ - Increases related to current year tax positions 241 - Reductions due to settlements with taxing authorities - - Foreign currency translation - - Balance at end of year $ 241 $ - |
Earnings per Share (EPS) (Table
Earnings per Share (EPS) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Weighted Average Number of Shares [Table Text Block] | 2015 2014 Weighted-average number of common shares outstanding - basic 7,926 7,916 Potential dilution from equity grants 114 99 Weighted-average number of common shares outstanding - diluted 8,040 8,015 |
Nature of Business and Signif47
Nature of Business and Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Buildings and Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 40 years |
Buildings and Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Furniture and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 15 years |
Furniture and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 2 years |
Vehicles [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 7 years |
Vehicles [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Nature of Business and Signif48
Nature of Business and Significant Accounting Policies (Details Textual) | Dec. 31, 2015USD ($) |
Cash, FDIC Insured Amount | $ 250,000 |
Acquisition (Details)
Acquisition (Details) - GemGroup [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2014USD ($) | |
Cash | $ 19,750 |
Purchase agreement contingencies | 266 |
Total acquisition consideration | $ 20,016 |
Acquisition (Details 1)
Acquisition (Details 1) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Goodwill | $ 10,292 | $ 10,292 |
GemGroup [Member] | ||
Accounts receivable | 2,317 | |
Inventories | 1,961 | |
Prepaid expenses | 70 | |
Other current assets | 40 | |
Property and equipment | 5,126 | |
Goodwill | 10,292 | |
Intangible assets | 2,004 | |
Accounts payable | (1,126) | |
Accrued liabilities | (617) | |
Other liabilities | (51) | |
Total acquisition consideration | $ 20,016 |
Acquisition (Details 2)
Acquisition (Details 2) - GemGroup [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2014USD ($)$ / shares | |
Net revenues | $ | $ 73,353 |
Net income attributable to common stockholders | $ | $ 2,111 |
Earnings per share-Basic (in dollars per share) | $ / shares | $ 0.27 |
Earnings per share-Diluted (in dollars per share) | $ / shares | $ 0.26 |
Acquisition (Details Textual)
Acquisition (Details Textual) - USD ($) $ in Thousands | Jul. 01, 2014 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||
Business Combination, Acquisition Related Costs | $ 300 | |
Business Combination, Separately Recognized Transactions, Revenues and Gains Recognized | 11,200 | |
Restructuring and Related Cost, Expected Cost | 600 | |
GemGroup Inc [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Effective Date of Acquisition | Jul. 1, 2014 | |
Escrow Deposit | $ 2,000 | |
Payments to Acquire Businesses, Gross | 19,750 | |
Business Combination, Consideration Transferred, Liabilities Incurred | $ 266 | |
Business Combination, Consideration Transferred | $ 20,016 |
Cash, Cash Equivalents, and M53
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | $ 17,788 | $ 8,969 | $ 14,492 |
Marketable Securities | 3,503 | 3,597 | |
Total | 21,291 | 12,566 | |
United States (including Mexico) [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | 12,861 | 3,160 | |
Marketable Securities | 0 | 0 | |
Total | 12,861 | 3,160 | |
France [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | 887 | 644 | |
Marketable Securities | 3,503 | 3,597 | |
Total | 4,390 | 4,241 | |
Macau S.A.R., China [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | 4,040 | 5,165 | |
Marketable Securities | 0 | 0 | |
Total | $ 4,040 | $ 5,165 |
Cash, Cash Equivalents, and M54
Cash, Cash Equivalents, and Marketable Securities (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | $ 3,503 | $ 3,597 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | 3,503 | 3,597 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | 2,727 | 1,215 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | 2,727 | 1,215 |
Bond Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | 776 | 2,382 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | $ 776 | $ 2,382 |
Accounts Receivable and Allow55
Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance at Beginning of Year | $ 302 | $ 114 |
Provision | 711 | 193 |
Write-offs, Net of Recoveries | (19) | (5) |
Exchange Rate Effect | (4) | 0 |
Balance at End of Period | $ 990 | $ 302 |
Accounts Receivable and Allow56
Accounts Receivable and Allowance for Doubtful Accounts (Details Textual) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 100.00% | 100.00% |
One Casino Customer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 10.00% | |
One Casino Customer [Member] | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 33.00% | 30.00% |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Inventory [Line Items] | ||
Raw materials | $ 7,653 | $ 5,747 |
Work in progress | 668 | 1,257 |
Finished goods | 2,548 | 2,582 |
Total inventories | $ 10,869 | $ 9,586 |
Inventories (Details 1)
Inventories (Details 1) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Inventory [Line Items] | ||
Current | $ 10,199 | $ 9,063 |
Non-current | 670 | 523 |
Total inventories | $ 10,869 | $ 9,586 |
Other Current Assets (Details)
Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Other Current Assets [Line Items] | ||
Deposits | $ 478 | $ 648 |
Income tax-related assets | 135 | 1,284 |
Refundable value-added tax | 818 | 395 |
Other, net | 145 | (54) |
Total other current assets | $ 1,576 | $ 2,273 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Land | $ 520 | $ 1,784 |
Buildings and improvements | 6,839 | 9,857 |
Equipment and furniture | 26,912 | 26,026 |
Vehicles | 403 | 368 |
Construction in progress | 1,403 | 7 |
Property, Plant and Equipment, Gross | 36,077 | 38,042 |
Less accumulated depreciation | (21,975) | (22,955) |
Property and equipment, net | $ 14,102 | $ 15,087 |
Property and Equipment (Detai61
Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $ 2,388 | $ 2,597 |
Construction in Progress, Gross | 1,403 | $ 7 |
Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Construction in Progress, Gross | $ 1,400 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | $ 4,009 | $ 4,013 |
Goodwill and Intangible assets, Accumulated Amortization | (1,504) | (1,219) |
Goodwill and Intangible assets, Net Carrying Amount | 2,505 | 2,794 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 1,772 | 1,772 |
Goodwill and Intangible assets, Accumulated Amortization | (454) | (327) |
Goodwill and Intangible assets, Net Carrying Amount | $ 1,318 | 1,445 |
Trademarks [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years | |
Trademarks [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 15 years | |
Customer List [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | $ 1,323 | 1,327 |
Goodwill and Intangible assets, Accumulated Amortization | (245) | (107) |
Goodwill and Intangible assets, Net Carrying Amount | $ 1,078 | 1,220 |
Customer List [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years | |
Customer List [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 15 years | |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | $ 542 | 542 |
Goodwill and Intangible assets, Accumulated Amortization | (520) | (503) |
Goodwill and Intangible assets, Net Carrying Amount | $ 22 | 39 |
Patents [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 13 years | |
Patents [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 14 years | |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | $ 372 | 372 |
Goodwill and Intangible assets, Accumulated Amortization | (285) | (282) |
Goodwill and Intangible assets, Net Carrying Amount | $ 87 | $ 90 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 3 years | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years |
Goodwill and Intangible Asset63
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
2,016 | $ 273 | |
2,017 | 256 | |
2,018 | 241 | |
2,019 | 235 | |
2,020 | 235 | |
Thereafter | 1,265 | |
Total | $ 2,505 | $ 2,794 |
Goodwill and Intangible Asset64
Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization Of Intangible Assets | $ 288,000 | $ 218,000 |
Goodwill | 10,292,000 | $ 10,292,000 |
GemGroup Inc [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill | $ 10,292,000 |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued liabilities | ||
Accrued bonuses and commissions | $ 1,590 | $ 604 |
Accrued salaries, wages, and related costs | 1,308 | 977 |
Accrued vacation | 906 | 894 |
Miscellaneous taxes | 576 | 632 |
Accrued legal fees | 550 | 18 |
Other | 1,526 | 781 |
Total accrued liabilities | $ 6,456 | $ 3,906 |
Debt (Details)
Debt (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Principal Balance | |
2,016 | $ 1,343 |
2,017 | 1,376 |
2,018 | 1,409 |
2,019 | 1,444 |
2,020 | 1,480 |
Thereafter | 2,293 |
Long-term Debt | $ 9,345 |
Debt (Details Textual)
Debt (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Jun. 26, 2015 | Dec. 31, 2015 | |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Interest Rate Description | LIBOR plus 2.25% | |
Nevada State Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Line of Credit | $ 15 | |
Long-term Debt [Member] | Nevada State Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Line of Credit | $ 10 | |
Line of Credit Facility, Expiration Date | Jun. 26, 2022 | |
Line of Credit [Member] | HSBC Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Repayments of Lines of Credit | $ 10 | |
Revolving Credit Facility [Member] | Nevada State Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Line of Credit | $ 5 | |
Line of Credit Facility, Expiration Date | Jun. 26, 2020 |
Commitments and Contingencies68
Commitments and Contingencies (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Operating Leases, Future Minimum Payments | |
2,016 | $ 1,018 |
2,017 | 842 |
2,018 | 688 |
2,019 | 270 |
2,020 | 274 |
Thereafter | 428 |
Total | $ 3,520 |
Commitments and Contingencies69
Commitments and Contingencies (Details Textual) | 12 Months Ended | |
Dec. 31, 2015USD ($)ft² | Dec. 31, 2014USD ($) | |
Commitments and Contingencies [Line Items] | ||
Operating Lease Expense | $ 841,000 | $ 749,000 |
Supplemental Unemployment Benefits, Severance Benefits | $ 789,000 | |
Area of Land | ft² | 15,000 | |
monthly Rental Expenses In Year One | $ 16,000 | |
monthly Rental Expenses From Year Seven | $ 18,000 |
Accumulated Other Comprehensi70
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
AccumulatedOtherComprehensiveIncomeLossLineItems | ||
Foreign currency translation | $ (1,876) | $ (322) |
Unrealized gain on securities, net of tax | 0 | 1 |
Total accumulated other comprehensive loss | $ (1,876) | $ (321) |
Geographic and Product Line I71
Geographic and Product Line Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 78,238 | $ 60,972 |
Revenues, Percentage | 100.00% | 100.00% |
The Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 53,211 | $ 36,367 |
Revenues, Percentage | 68.00% | 59.70% |
Asia-Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 21,341 | $ 21,410 |
Revenues, Percentage | 27.30% | 35.10% |
Europe and Africa [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 3,686 | $ 3,195 |
Revenues, Percentage | 4.70% | 5.20% |
Geographic and Product Line I72
Geographic and Product Line Information (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 78,238 | $ 60,972 |
Revenues, Percentage | 100.00% | 100.00% |
Casino currency without RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 17,762 | $ 14,511 |
Revenues, Percentage | 22.80% | 23.80% |
Casino currency with RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 12,852 | $ 14,315 |
Revenues, Percentage | 16.40% | 23.50% |
Total casino currency [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 30,614 | $ 28,826 |
Revenues, Percentage | 39.20% | 47.30% |
Playing Cards [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 24,171 | $ 15,139 |
Revenues, Percentage | 30.90% | 24.80% |
Table Accessories and Other Products [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 7,243 | $ 3,303 |
Revenues, Percentage | 9.30% | 5.40% |
Table Layouts [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 6,199 | $ 5,352 |
Revenues, Percentage | 7.90% | 8.80% |
Dice [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 2,685 | $ 2,452 |
Revenues, Percentage | 3.40% | 4.00% |
RFID Solutions [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 2,186 | $ 1,566 |
Revenues, Percentage | 2.80% | 2.60% |
Gaming Furniture [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 1,990 | $ 1,957 |
Revenues, Percentage | 2.50% | 3.20% |
Shipping [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 3,150 | $ 2,377 |
Revenues, Percentage | 4.00% | 3.90% |
Geographic and Product Line I73
Geographic and Product Line Information (Details 2) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 14,102 | $ 15,087 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 7,000 | 8,199 |
France [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,544 | 3,699 |
Mexico [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,249 | 3,055 |
Macau S.A.R., China [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 309 | $ 134 |
Geographic and Product Line I74
Geographic and Product Line Information (Details 3) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $ 2,505 | $ 2,794 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | 2,006 | 2,249 |
Macau S.A.R., China [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | 497 | 535 |
France [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $ 2 | $ 10 |
Geographic and Product Line I75
Geographic and Product Line Information (Details Textual) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 100.00% | 100.00% |
One Casino Customer [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 10.00% |
Pension Plans (Details)
Pension Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Change in benefit obligation: | ||
Benefit obligation at beginning of year | $ 472 | $ 472 |
Service cost | 28 | 31 |
Interest cost | 9 | 16 |
Actuarial loss | 5 | 13 |
Benefits paid | (7) | 0 |
Effect of foreign exchange rate changes | (49) | (60) |
Benefit obligation at end of year | 458 | 472 |
Change in plan assets: | ||
Fair value of plan assets at beginning of year | 401 | 466 |
Actual loss (return) on plan assets | 2 | (11) |
Effect of foreign exchange rate changes | (41) | (54) |
Fair value of plan assets at end of year | 362 | 401 |
Funded status and accrued benefit cost | $ (96) | $ (71) |
Pension Plans (Details 1)
Pension Plans (Details 1) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | $ 362 | $ 401 | $ 466 |
Worldwide bond fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | 165 | 186 | |
Guaranteed equity fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | 58 | 73 | |
European equity fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | $ 139 | $ 142 |
Pension Plans (Details 2)
Pension Plans (Details 2) | Dec. 31, 2015 | Dec. 31, 2014 |
Assumptions: | ||
Discount rate | 2.00% | 2.00% |
Rate of compensation increase | 2.00% | 2.00% |
Pension Plans (Details 3)
Pension Plans (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Service-cost benefits earned during the period | $ 28 | $ 31 |
Interest expense on benefit obligation | 9 | 16 |
Actual (return) loss on plan assets | 2 | (11) |
Actuarial loss | (5) | (13) |
Net pension expense | $ 40 | $ 71 |
Pension Plans (Details Textual)
Pension Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 370,000 | $ 377,000 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 110,000 | 75,000 |
Defined Contribution Plan Description | We contribute $0.50 for each $1.00 contributed by a participant in the 401K Plan up to 4 percent of the participant’s wages. | |
Defined Benefit Plan, Funded Status of Plan | $ (96,000) | $ (71,000) |
From 2016 Through 2019 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Projected Benefit Payments | 2,000 | |
From 2020 Through 2024 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Projected Benefit Payments | $ 162,000 |
Stockholders' Equity (Details T
Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Nov. 30, 2012 | Dec. 01, 2011 | |
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 498,512 | 409,951 | |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased, Percentage | 5.00% | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 215,590 | ||
Stock Repurchased During Period, Value | $ 2.1 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 7.30 | ||
Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchased During Period, Shares | 282,922 |
Stock Option Programs and Sha82
Stock Option Programs and Share-based Compensation Expense (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares, Outstanding, Begining Balance | 384,000 | 358,500 |
Shares, Granted | 24,750 | 25,500 |
Shares, Expired | (3,500) | |
Shares, Exercised | (12,500) | |
Shares, Outstanding, Ending Balance | 392,750 | 384,000 |
Shares, Exercisable | 377,250 | |
Weighted-Average Exercise Price, Outstanding, Begining Balance | $ 7.60 | $ 7.54 |
Weighted-Average Exercise Price, Granted | 9.59 | 8.18 |
Weighted-Average Exercise Price, Expired | 8.62 | |
Weighted- Average Exercise Price, Exercised | 6.97 | |
Weighted-Average Exercise Price, Outstanding, Ending Balance | 7.65 | $ 7.60 |
Weighted-Average Exercise Price, Exercisable | $ 7.56 | |
Weighted- Average Remaining Contractual Term (Years), Outstanding | 4 years 3 months 18 days | |
Weighted- Average Remaining Contractual Term (Years), Exercisable | 4 years 1 month 6 days | |
Aggregate Intrinsic Value, Outstanding | $ 782 | |
Aggregate Intrinsic Value, Exercisable | $ 782 |
Stock Option Programs and Sha83
Stock Option Programs and Share-based Compensation Expense (Details 1) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Option valuation assumptions: | ||
Dividend yield | 3.00% | 1.10% |
Expected volatility | 34.10% | 40.30% |
Risk-free interest rate | 1.50% | 1.65% |
Expected term of options | 5 years 7 months 6 days | 5 years 7 months 6 days |
Weighted-average fair value of options granted during the period | $ 3.09 | $ 2.99 |
Stock Option Programs and Sha84
Stock Option Programs and Share-based Compensation Expense (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation | $ 77 | $ 115 |
Estimated tax benefit | (28) | (41) |
Total share-based compensation, net of tax benefit | $ 49 | $ 74 |
Stock Option Programs and Sha85
Stock Option Programs and Share-based Compensation Expense (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2008 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share Based Compensation Arrangement by Share Based Payment Award Options Granted for Award | 6,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Shares Annual Grant Purchased Forward | 2,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Additional Shares Purchased Forward | 1,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 450,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Increased For Discretionary Stock Options | 100,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 4 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 87,000 | |
Gronau Agreement [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 150,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 10 Years | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |
Share Based Compensation Arrangement By Share Based Payment Award Vested Year One | 20,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Vested Year Two | 30,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Vested Year Three | 30,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Vested Year Four | 30,000 | |
Share Based Compensation Arrangement By Share Based Payment Award Vested Year Five | 40,000 |
Other Income and Expense (Detai
Other Income and Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Other Income And Expense [Line Items] | ||
Interest income | $ 12 | $ 138 |
Interest expense | (248) | (127) |
Gain on foreign currency transactions | 38 | 214 |
Other income | 25 | 2 |
Total other (expense) income, net | $ (173) | $ 227 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | ||
U.S. Federal | $ 1,207 | $ 0 |
U.S. State | 251 | 23 |
Foreign | 464 | 390 |
Total Current | 1,922 | 413 |
Deferred: | ||
U.S. Federal | 673 | (631) |
U.S. State | (127) | (37) |
Foreign | 337 | (6) |
Total Deferred | 883 | (674) |
Income tax provision (benefit) | $ 2,805 | $ (261) |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | ||
Foreign | $ 5,067 | $ 3,981 |
United States | 4,669 | (1,566) |
Income before income taxes | $ 9,736 | $ 2,415 |
Income Taxes (Details 2)
Income Taxes (Details 2) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | ||
Computed expected income tax expense | 34.00% | 34.00% |
State income taxes, net of federal benefits | 1.70% | (0.70%) |
Subpart F income adjustment | 24.50% | 8.60% |
Foreign rate differential (excluding research credit) | (10.00%) | (26.20%) |
Change in valuation allowance | (20.40%) | (13.90%) |
French research and low wage credit | (2.30%) | (14.60%) |
Other, net | 1.30% | 1.90% |
Income tax expense | 28.80% | (10.80%) |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Tax credits | $ 1,602 | $ 4,392 |
Property and equipment | 497 | 893 |
Stock compensation | 615 | 605 |
French deferred assets | 279 | 345 |
Bad debt reserves and inventory | 828 | 463 |
Operating loss carry forwards | 7 | 36 |
Other | 672 | 102 |
Total gross deferred tax assets | 4,500 | 6,836 |
Less: valuation allowance | 0 | (2,024) |
Total net deferred tax assets | 4,500 | 4,812 |
Deferred tax liabilities: | ||
Excess book basis in shares of GPI-SAS | 1,603 | 1,503 |
French deferred liabilities | 338 | 456 |
Intangible assets | 379 | 111 |
Total deferred tax liabilities | 2,320 | 2,070 |
Deferred tax assets, net | $ 2,180 | $ 2,742 |
Income Taxes (Details 4)
Income Taxes (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | ||
Balance at beginning of year | $ 0 | $ 0 |
Increases related to current year tax positions | 241 | 0 |
Reductions due to settlements with taxing authorities | $ 0 | $ 0 |
Foreign currency translation | ||
Balance at end of year | $ 241 | $ 0 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | ||
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount | $ 1.6 | |
Tax Credit Carryforward, Valuation Allowance | $ 2 | |
Tax Credit Carryforward, Amount | $ 0.1 | |
Operating Loss Carryforwards, Expiration Dates | which will expire from 2017 through 2034 | |
Dividend Income On Pledged Net Assets | $ 7.3 |
Earnings per Share (EPS) (Detai
Earnings per Share (EPS) (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Basic and Diluted Earnings Per Share [Line Items] | ||
Weighted-average number of common shares outstanding - basic | 7,926 | 7,916 |
Potential dilution from equity grants | 114 | 99 |
Weighted-average number of common shares outstanding - diluted | 8,040 | 8,015 |
Earnings per Share (EPS) (Det94
Earnings per Share (EPS) (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 46,500 | 49,500 |
Related-party Transactions (Det
Related-party Transactions (Details Textual) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Related Party Transaction [Line Items] | |
Area Of Lease Property | 90,000 |
Monthly Rental Per Square Feet | $ 0.31 |
Lease Property Monthly Lease | $ 28,000 |