Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 15, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 47,024,195 | ||
Trading Symbol | GPIC | ||
Entity Common Stock, Shares Outstanding | 7,932,794 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 14,064 | $ 10,604 |
Accounts receivable, net | 7,415 | 11,069 |
Inventories | 15,118 | 14,987 |
Prepaid expenses | 1,290 | 812 |
Other current assets | 2,836 | 1,620 |
Total current assets | 40,723 | 39,092 |
Property and equipment, net | 24,933 | 24,310 |
Goodwill | 10,292 | 10,292 |
Intangible assets, net | 1,676 | 1,818 |
Investment | 411 | 0 |
Deferred income tax assets | 675 | 1,579 |
Inventories, non-current | 2,453 | 598 |
Other assets, non-current | 2,240 | 2,310 |
Total assets | 83,403 | 79,999 |
Current Liabilities: | ||
Accounts payable | 4,743 | 3,466 |
Accrued liabilities | 6,779 | 5,553 |
Customer deposits and deferred revenue | 3,020 | 3,679 |
Current portion of long-term debt | 1,401 | 1,367 |
Income taxes payable | 693 | 531 |
Total current liabilities | 16,636 | 14,596 |
Long-term debt | 5,265 | 6,649 |
Other liabilities, non-current | 186 | 1,221 |
Total liabilities | 22,087 | 22,466 |
Commitments and contingencies (Note 12) | ||
Stockholders' Equity: | ||
Preferred stock, authorized 10,000,000 shares, $0.01 par value, none issued and outstanding | 0 | 0 |
Common stock, authorized 30,000,000 shares, $0.01 par value, 8,223,077 and 7,932,094 shares issued and outstanding, respectively, as of December 31, 2017, and 8,219,577 and 7,928,594 shares issued and outstanding, respectively, as of December 31, 2016 | 82 | 82 |
Additional paid-in capital | 19,272 | 20,031 |
Treasury stock at cost: 290,983 shares | (2,263) | (2,263) |
Retained earnings | 44,718 | 42,044 |
Accumulated other comprehensive loss | (493) | (2,361) |
Total stockholders' equity | 61,316 | 57,533 |
Total liabilities and stockholders' equity | $ 83,403 | $ 79,999 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
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 | 8,223,077 | 8,219,577 |
Common stock, shares outstanding | 7,932,094 | 7,928,594 |
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, 2017 | Dec. 31, 2016 | |
Revenues | $ 80,602 | $ 82,139 |
Cost of revenues | 57,924 | 56,803 |
Gross profit | 22,678 | 25,336 |
Marketing and sales | 6,619 | 6,407 |
General and administrative | 9,016 | 10,181 |
Research and development | 1,517 | 1,188 |
Operating income | 5,526 | 7,560 |
Other expense, net | (85) | (34) |
Income before income taxes | 5,441 | 7,526 |
Income tax provision | 1,815 | 2,343 |
Net income | $ 3,626 | $ 5,183 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.46 | $ 0.65 |
Diluted (in dollars per share) | $ 0.45 | $ 0.64 |
Weighted-average shares of common stock outstanding: | ||
Basic (in shares) | 7,930 | 7,929 |
Diluted (in shares) | 8,045 | 8,042 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net income | $ 3,626 | $ 5,183 |
Other comprehensive income (loss): | ||
Foreign currency translation adjustment, net of tax | 1,868 | (485) |
Total comprehensive income | $ 5,494 | $ 4,698 |
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 Loss [Member] |
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 | |||||
Net income | 5,183 | $ 0 | 0 | 0 | 5,183 | 0 |
Stock compensation expense | 86 | 0 | 86 | 0 | 0 | 0 |
Tax impacts of stock options | (88) | 0 | (88) | 0 | 0 | 0 |
Dividend paid to shareholders | (951) | 0 | 0 | 0 | (951) | 0 |
Foreign currency translation adjustment | (485) | 0 | 0 | 0 | 0 | (485) |
Balance at Dec. 31, 2016 | 57,533 | $ 82 | 20,031 | (2,263) | 42,044 | (2,361) |
Balance (in shares) at Dec. 31, 2016 | 7,928,594 | |||||
Net income | 3,626 | $ 0 | 0 | 0 | 3,626 | 0 |
Common stock options exercised | 35 | $ 0 | 35 | 0 | 0 | 0 |
Common stock options exercised (in shares) | 3,500 | |||||
Stock compensation expense | 104 | $ 0 | 104 | 0 | 0 | 0 |
Stock appreciation rights reclassification | (898) | 0 | (898) | 0 | 0 | 0 |
Dividend paid to shareholders | (952) | 0 | 0 | 0 | (952) | 0 |
Foreign currency translation adjustment | 1,868 | 0 | 0 | 0 | 0 | 1,868 |
Balance at Dec. 31, 2017 | $ 61,316 | $ 82 | $ 19,272 | $ (2,263) | $ 44,718 | $ (493) |
Balance (in shares) at Dec. 31, 2017 | 7,932,094 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities | ||
Net income | $ 3,626 | $ 5,183 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of property and equipment | 4,359 | 3,319 |
Amortization of intangible assets | 242 | 273 |
Recovery of bad debt | (498) | (102) |
Inventory write-down | 847 | 0 |
Deferred income taxes | 922 | 592 |
Stock compensation expense | 400 | 86 |
Tax benefit on exercise or forfeiture of stock options | 0 | (88) |
Loss on sale or disposal of property and equipment | 87 | 7 |
(Gain) on sale of marketable securities | 0 | (1) |
Impairment of intangibles assets | 0 | 414 |
Loss in equity investment | 40 | 0 |
Change in operating assets and liabilities: | ||
Accounts receivable | 4,175 | (293) |
Inventories | (2,227) | (4,909) |
Prepaid expenses and other current assets | (1,589) | 96 |
Non-current other assets | 290 | 234 |
Accounts payable | 1,185 | (1,047) |
Accrued liabilities and non current other liabilities | (1,198) | (1,525) |
Customer deposits and deferred revenue | (683) | 1,601 |
Income taxes payable | 162 | (293) |
Net cash provided by operating activities | 10,140 | 3,547 |
Cash Flows from Investing Activities | ||
Proceeds from sale of marketable securities | 0 | 3,556 |
Purchase of equity method investment | (451) | 0 |
Purchase of licensing rights | (100) | 0 |
Capital expenditures | (4,374) | (11,875) |
Net cash used in investing activities | (4,925) | (8,319) |
Cash Flows from Financing Activities | ||
Principal payments on long-term debt | (1,349) | (1,330) |
Dividends paid | (952) | (951) |
Proceeds from exercise of stock options | 35 | 0 |
Cash paid for exercise of stock appreciation rights | (42) | 0 |
Net cash used in financing activities | (2,308) | (2,281) |
Effect of exchange rate changes on cash | 553 | (131) |
Net increase (decrease) in cash and cash equivalents | 3,460 | (7,184) |
Cash and cash equivalents, beginning of period | 10,604 | 17,788 |
Cash and cash equivalents, end of period | 14,064 | 10,604 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 249 | 242 |
Cash paid, net of refunds received, for income taxes | 1,229 | 2,126 |
Supplemental disclosure of non-cash investing and financing activities | ||
Stock appreciation rights liability, classified under accrued liabilities | 1,153 | 0 |
Property, plant and equipment acquired through accounts payable, accrued and non-current other liabilities | $ 62 | $ 1,849 |
Nature of Business and Signific
Nature of Business and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Business Description and Accounting Policies [Text Block] | Note 1. Nature of Business and Significant Accounting Policies Organization and Nature of Business Gaming Partners International Corporation (GPIC, Our 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. We have 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 rebranding, 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. Significant Accounting Policies The consolidated financial statements include the accounts of GPIC and its wholly-owned subsidiaries GPI USA, GPI SAS, GPI Asia and GPI Mexicana. We also include the income or loss earned on our equity method investments, based on our share of the Company’s assets. 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. Certain amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current presentation. 250,000 . The fair value of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and the current portion of long-term debt approximates the carrying amount of these financial instruments due to their short-term nature. The carrying values of the Company's long-term debt instruments are considered to approximate their fair values because the interest rates of these instruments are variable or comparable to current rates available to the Company. . 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. 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 an estimate of net realizable 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, usage of these items, the projected markets for our products, and selling costs. Inventory that we estimate will not be used within one year is considered non-current inventory. Inventory that we estimate will not be used within the next three years is written down. . Property and equipment are stated at cost, net of accumulated depreciation. Years Buildings and Improvements 3 40 Equipment and Furniture 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. We evaluate 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 identify a potential impairment loss when the sum of undiscounted expected cash flows from the asset is less than the carrying amount of such asset. We record an impairment loss when the carrying amount of the long-lived asset is not recoverable and the carrying amount exceeds the estimated fair value. 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. 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 occasion, we 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 the delivery date must be fixed. Research and development costs are the costs related to developing new and improved products and manufacturing processes, including staff compensation and related expenses, subcontract costs, materials, and supplies. Such costs are charged to expense when incurred and are included in our consolidated statements of income. We recognize a current tax liability or asset for estimated taxes payable or refundable on tax returns for the current year and a deferred non-current tax liability or asset for estimated future tax effects, attributable to temporary differences and carryforwards. The Tax Act made significant changes to federal tax law, including a reduction in the federal income tax rate from 35 21 SAB 118 summarizes a three-step process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the Tax Cuts and Jobs Act. 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. We review all of our tax positions and make a determination as to whether our 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. We recognize interest and penalties related to unrecognized tax positions in the provision for income taxes on our 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 loss includes net income 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 and intangible 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 March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-17, Compensation Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenues from Contracts with Customers (Topic 606) •ASU 2016-08 (Issued March 2016) - Principal versus Agent Consideration (Reporting Revenue Gross versus Net) •ASU 2016-10 (Issued April 2016) - Identifying Performance Obligations and Licensing •ASU 2016-12 (Issued May 2016) - Narrow-Scope Improvements and Practical Expedients •ASU 2016-20 (Issued December 2016) - Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers The guidance provides for a five-step model to determine the revenue recognized for the transfer of goods or services to customers that reflects the expected entitled consideration in exchange for those goods or services. It also provides clarification for principal versus agent considerations and identifying performance obligations. In addition, the FASB introduced practical expedients related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes. Financial statement disclosures required under the guidance will enable users to understand the nature, amount, timing, judgments, and uncertainty of revenue and cash flows relating to customer contracts. The two permitted transition methods under the guidance are the full retrospective approach or a cumulative effect adjustment to the opening retained earnings in the year of adoption (cumulative effect approach). The guidance is effective in 2018. The Company will adopt it in the first quarter of 2018 under the modified retrospective method. Through our comprehensive approach we concluded that this new guidance will not have a material impact, on our consolidated financial statements. We did not need to significantly change our business processes, systems and controls to support recognition and disclosure under the new guidance. Recently Adopted Accounting Standards. In March 2016, the FASB issued ASU 2016-09, Compensation Stock Compensation (Topic 718) In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory |
Dolphin Asset Acquisition
Dolphin Asset Acquisition | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 2. Dolphin Asset Acquisition On May 11, 2016, the Company entered into and closed an Asset Purchase Agreement to purchase certain assets used in the design and manufacture of casino currency from Dolphin Products Limited (Dolphin), a wholly owned subsidiary of Entertainment Gaming Asia Inc. (EGT). The purchased assets were primarily equipment and inventory with allocated costs of $ 5.7 1.6 The acquisition was treated as an asset acquisition. The total cost of the acquisition was $ 7.3 5.1 1.1 1.1 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Note 3. Cash and Cash Equivalents 2017 2016 France $ 6,611 $ 3,263 United States (including Mexico) 4,936 3,237 Macau S.A.R., China 2,517 4,104 Total $ 14,064 $ 10,604 |
Accounts Receivable and Allowan
Accounts Receivable and Allowance for Doubtful Accounts | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017, no casino customer accounted for 10 25 Balance at Write-offs, Beginning of Reduction of Net of Exchange Balance at Year provision Recoveries Rate Effect End of Period 2017 $ 804 $ (498) $ - $ 1 $ 307 2016 $ 990 $ (102) $ (84) $ - $ 804 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 5. Inventories 2017 2016 Raw materials $ 11,637 $ 11,129 Work in progress 2,432 1,137 Finished goods 3,502 3,319 Total inventories $ 17,571 $ 15,585 We booked an exceptional $ 0.8 2017 2016 Current $ 15,118 $ 14,987 Non-current 2,453 598 Total inventories $ 17,571 $ 15,585 The increase of $ 1.9 0.9 0.6 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets [Text Block] | Note 6. Other Current Assets Other current assets consist of the following at December 31 (in thousands): 2017 2016 Income tax-related assets $ 1,435 $ 722 Refundable value-added tax 996 516 Deposits 327 328 Other, net 78 54 Total other current assets $ 2,836 $ 1,620 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7. Property and Equipment Property and equipment consist of the following at December 31 (in thousands): 2017 2016 Land $ 669 $ 636 Buildings and improvements 11,196 10,280 Equipment and furniture 40,714 35,618 Vehicles 408 379 Construction in progress 529 1,327 53,516 48,240 Less accumulated depreciation (28,583) (23,930) Property and equipment, net $ 24,933 $ 24,310 Depreciation expense for the years ended December 31, 2017 and 2016 was $ 4.4 3.3 0.5 1.3 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | Note 8. Goodwill and Intangible Assets We have goodwill of $ 10.3 2017 2016 Gross Net Gross Net Estimated Carrying Accum Carrying Carrying Accum Carrying Useful Life Amount Amort Amount Amount Amort Amount (Years) Trademarks $ 1,711 $ (700) $ 1,011 $ 1,711 $ (579) $ 1,132 10-15 Customer list 897 (353) 544 897 (278) 619 10-15 Patents 542 (534) 8 542 (527) 15 14 Other intangible assets 472 (359) 113 372 (320) 52 3-10 Total intangible assets $ 3,622 $ (1,946) $ 1,676 $ 3,522 $ (1,704) $ 1,818 Amortization expense for intangible assets for the years ended December 31, 2017 and 2016 was $ 242,000 273,000 In 2016, a $ 414,000 Amortization Year Expense 2018 $ 229 2019 223 2020 222 2021 213 2022 155 Thereafter 634 Total $ 1,676 |
Equity Method Investment
Equity Method Investment | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Cost and Equity Method Investments Disclosure [Text Block] | Note 9. Equity Method Investment On May 31, 2017, GPIC acquired 20 |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities [Abstract] | |
Accrued Liabilities Disclosure [Text Block] | Note 10. Accrued Liabilities Accrued liabilities consist of the following at December 31 (in thousands): 2017 2016 Accrued salaries, wages, and related costs $ 1,359 $ 1,037 Stock appreciation rights liability 1,153 - Accrued fixed asset acquisition liability 1,076 1,076 Accrued vacation 964 894 Accrued bonuses and commissions 953 1,221 Miscellaneous taxes 560 578 Other 714 747 Total accrued liabilities $ 6,779 $ 5,553 The Stock appreciation rights liability is the result of the Board of Director’s decision to grant stock appreciation rights to certain non-employee directors (Note 16). The accrued fixed asset acquisition liability is the balance owed to EGT and resulting from the Dolphin acquisition (Note 2). |
Debt
Debt | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 11. Debt On June 26, 2015, the Company entered into a Credit Agreement with Nevada State Bank to borrow up to a combined $ 15.0 10.0 5.0 Interest on funds borrowed under the term loan and the revolving loan are charged at a rate per annum equal to LIBOR plus 2.25%. The term loan has a straight-line seven year amortization schedule. At December 31, 2017, estimated repayment obligations for the principal balance of long-term debt are as follows (in thousands): Long Term Year Debt 2018 $ 1,401 2019 1,453 2020 1,506 2021 1,561 2022 745 $ 6,666 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 12. Commitments and Contingencies Operating Lease Commitments. The Company has various operating leases that are used in the normal course of business. The operating leases consist of buildings and equipment that expire at various points through 2023. Operating lease expense for the years ended December 31, 2017 and 2016 was $ 1.0 1.7 Minimum Lease Year Payments 2018 $ 899 2019 737 2020 620 2021 625 2022 564 Thereafter 338 Total $ 3,783 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 that 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 $ 0.6 |
Geographic and Product Line Inf
Geographic and Product Line Information | 12 Months Ended |
Dec. 31, 2017 | |
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. 2017 2016 Revenues The Americas $ 54,638 67.8 % $ 56,247 68.5 % Asia-Pacific 23,200 28.8 % 22,080 26.9 % Europe and Africa 2,764 3.4 % 3,812 4.6 % Total $ 80,602 100.0 % $ 82,139 100.0 % 2017 2016 Casino currency without RFID $ 14,754 18.3 % $ 15,698 19.1 % Casino currency with RFID 18,041 22.4 % 16,123 19.6 % Total casino currency 32,795 40.7 % 31,821 38.7 % Playing cards 24,864 30.8 % 26,708 32.5 % Table accessories and other products 6,802 8.4 % 6,639 8.1 % Table layouts 5,315 6.6 % 5,259 6.4 % Gaming furniture 3,126 3.9 % 2,645 3.2 % Dice 2,791 3.5 % 2,859 3.5 % RFID solutions 1,623 2.0 % 3,000 3.7 % Shipping 3,286 4.1 % 3,208 3.9 % Total $ 80,602 100.0 % $ 82,139 100.0 % In 2017 and 2016, we had no casino customer that accounted for 10 2017 2016 United States $ 13,708 $ 13,242 Mexico 6,851 6,142 France 3,936 4,614 Macau S.A.R., China 438 312 Total $ 24,933 $ 24,310 2017 2016 United States $ 1,634 $ 1,772 Macau S.A.R., China 42 46 Total $ 1,676 $ 1,818 |
Pension Plans
Pension Plans | 12 Months Ended |
Dec. 31, 2017 | |
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. 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ 497 $ 458 Service cost 31 28 Interest cost 8 10 Actuarial loss 29 38 Benefits paid (8) (18) Effect of foreign exchange rate changes 73 (19) Benefit obligation at end of year $ 630 $ 497 Change in plan assets: Fair value of plan assets at beginning of year $ 317 $ 362 Actual (loss) return on plan assets 8 (34) Effect of foreign exchange rate changes 45 (11) Fair value of plan assets at end of year 370 317 Funded status and accrued benefit cost $ (260) $ (180) At December 31, 2017 and 2016, the accrued benefit cost of $ 0.3 0.2 2017 2016 Worldwide bond fund $ 179 $ 158 Guaranteed equity fund 34 31 European equity fund 157 128 Fair value of plan assets at end of year $ 370 $ 317 We did not make any contribution to the Pension Plan in either 2017 or 2016. 2017 2016 Net periodic benefit cost: Discount rate 1.30 % 1.50 % Pension Plan obligations: Discount rate 1.30 % 1.50 % Rate of compensation increase 2.00 % 2.00 % The accumulated benefit obligation was $ 0.5 0.4 2017 2016 Service-cost benefits earned during the period $ 31 $ 28 Interest expense on benefit obligation 8 10 Actual (return) loss on plan assets (8) 34 Actuarial loss 29 38 Net pension expense $ 60 $ 110 Projected benefit payments from the Pension Plan as of December 31, 2017 are estimated at $ 8,000 0.2 We also sponsor a 401(k) plan for employees in the United States (the 401K Plan) who have worked for us for longer than six months and are 21 years of age or older. Our 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 Internal Revenue Service annual limit or 75 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. Our contributions to the 401K Plan for each of the years ended December 31, 2017 and 2016 was $ 0.1 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
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 In each of December 2017 and December 2016 we paid a cash dividend of $ 0.12 1.0 |
Stock Option Programs and Share
Stock Option Programs and Share-based Compensation Expense | 12 Months Ended |
Dec. 31, 2017 | |
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 plan which is the 1994 Directors’ Stock Option Plan, as amended and extended (the Directors’ Plan). We are also party to a stock option agreement (the Gronau Agreement) with our CEO, Gregory S. Gronau. The Directors’ Plan and the Gronau Agreement were both approved by our stockholders, except for the most recent amendments to the Directors’ Plan adopted by the Board of Directors on December 26, 2017, described below, which are being submitted to the stockholders for approval in May 2018. 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 The Board of Directors may grant discretionary stock options covering up to 100,000 450,000 On December 26, 2017, the Board of Directors adopted amendments to the Directors’ Plan to extend the term of the plan from January 31, 2019 to January 31, 2022 and allow for the grant of stock appreciation rights to non-employee directors in addition to grants of stock options. Each stock appreciation right shall entitle a non-employee director to surrender to GPIC a vested option and to receive from GPIC in exchange a cash payment. Non-employee directors currently hold outstanding stock options which will expire beginning in 2018, unless exercised. The Board of Directors adopted amendments to the Directors’ Plan to allow for the grant of stock appreciation rights which would entitle the non-employee director to receive the amount by which the fair market value of a share of common stock immediately prior to exercise exceeds the related stock option exercise price. The amendments to the Directors’ Plan are being submitted to the Company’s stockholders for approval at the annual meeting in May 2018. On December 26, 2017, the Board of Directors, upon the recommendation of our Compensation Committee, granted stock appreciation rights to our non-employee directors relating to outstanding stock options for an aggregate 262,750 1.2 0.3 Mr. Gronau, was granted an option to purchase 150,000 20,000 30,000 40,000 Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Value Options Exercise Price Term (Years) (in thousands) Outstanding at January 1, 2016 392,750 $ 7.65 4.3 $ 782 Granted 25,500 9.83 Expired (15,500) 19.40 Outstanding at December 31, 2016 402,750 7.34 3.9 $ 1,855 Granted 25,500 10.97 Expired (12,000) 10.72 Exercised (49,500) 7.07 Outstanding at December 31, 2017 366,750 $ 7.35 3.8 $ 1,431 Exercisable at December 31, 2017 354,750 $ 7.24 3.6 $ 1,425 Of the 49,500 46,000 36,000 For the year ended December 31, 2017, the total intrinsic value of options exercised was $ 0.2 We estimate the fair value of each stock option award on the grant date, and at each subsequent remeasurement, 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. 2017 2016 Option valuation assumptions: Dividend yield 1.1 % 0.0 % Expected volatility 36.5 % 34.1 % Risk-free interest rate 1.91 % 1.36 % Expected term of options 5.6 yrs 5.6 yrs Weighted-average fair value of options granted during the period $ 4.05 $ 3.35 2017 2016 Stock compensation $ 400 $ 86 Estimated tax benefit (144) (31) Total stock compensation, net of tax benefit $ 256 $ 55 |
Other Income and Expense
Other Income and Expense | 12 Months Ended |
Dec. 31, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | Note 17. Other Income and Expense Other income and expense consist of the following for the years ended December 31 (in thousands): 2017 2016 Interest income $ 1 $ 23 Interest expense (249) (242) Gain on foreign currency transactions 182 187 Other expense, net (19) (2) Total other expense, net $ (85) $ (34) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 18. Income Taxes New tax legislation, commonly referred to as the Tax Cuts and Jobs Act, was enacted on December 22, 2017. ASC 740, Accounting for Income Taxes, requires companies to recognize the effect of tax law changes in the period of enactment even though the effective date for most provisions is for tax years beginning after December 31, 2017, or in the case of certain other provisions, January 1, 2018. As such, January 1, 2018 would be the first day of the taxable year for purposes of applying the effective date of the new tax legislation for provisions which are applicable to tax years beginning after December 31, 2017. New tax legislation provisions that are applicable for the tax year ended December 31, 2017 have been accounted for within the current period ended December 31, 2017. Given the significance of the legislation, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which allows registrants to record provisional amounts during a one year “measurement period” similar to that used when accounting for business combinations. However, the measurement period is deemed to have ended earlier when the registrant has obtained, prepared and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared or analyzed. SAB 118 summarizes a three-step process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the Tax Cuts and Jobs Act. The Company has determined a reasonable estimate related to the reduction in the U.S. corporate income tax rate to 21 0.3 0.3 1.4 2017 2016 Current: U.S. Federal $ (47) $ 1,035 U.S. State 182 43 Foreign 494 619 Total Current 629 1,697 Deferred: U.S. Federal 759 666 U.S. State 48 59 Foreign 379 (79) Total Deferred 1,186 646 Income tax provision (benefit) $ 1,815 $ 2,343 2017 2016 Foreign $ 5,185 $ 4,532 United States 256 2,994 Income before income taxes $ 5,441 $ 7,526 2017 2016 Computed expected income tax expense 34.0 % 34.0 % State income taxes, net of federal benefits 1.2 % 1.0 % Subpart F income adjustment 7.4 % 8.6 % Foreign rate differential (excluding research credit) (13.3) % (10.2) % Impact of the Tax Act 5.2 % - French research and low wage credit (4.3) % (3.0) % Other, net 3.1 % 0.7 % Income tax expense 33.4 % 31.1 % 2017 2016 Deferred tax assets: Tax credits $ 2 $ 1,549 Property and equipment - 357 Stock compensation 371 557 French deferred assets 367 410 Bad debt reserves and inventory 608 774 Accrued Expenses 188 321 Operating loss carry forwards - 7 Other 6 16 Total deferred tax assets 1,542 3,991 Deferred tax liabilities: Excess book basis in shares of GPI-SAS $ - $ 1,547 French deferred liabilities 246 262 Property and equipment 80 - Intangible assets 541 603 Total deferred tax liabilities 867 2,412 Deferred tax assets, net $ 675 $ 1,579 We adopted FASB ASU No. 2016-09, regarding several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, in the current period on a prospective basis. As a result of the Company’s application of ASU No. 2016-09, certain excess tax benefits at the time of exercise are recognized as income tax benefits, while tax deficiencies of an option at the time of exercise or expiring unexercised are recognized as income tax expense in the statement of income. As of December 31, 2017, the adoption of ASU No. 2016-09 has not materially impacted our consolidated financial statements. Unrepatriated earnings were approximately $ 6.2 2.0 We are subject to taxation in the U.S. and various states and foreign jurisdictions. With few exceptions, the tax years 2014 through 2017 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 by 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. In the first quarter of 2018, in connection with the FTA’s examination of GPI SAS for tax years 2013 and 2012, GPI paid € 1.4 2017 2016 Balance at beginning of year $ 258 $ 241 Foreign currency translation 36 17 Balance at end of year $ 294 $ 258 All of the liability as of December 31, 2017 would affect our effective tax rate if recognized and amounts of interest and penalties are not expected to be significant. We anticipate that the balance of the unrecognized tax benefits will be eliminated within the next twelve months. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 19. Earnings per Share The weighted-average number of common shares outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands): 2017 2016 Weighted-average number of common shares outstanding - basic 7,930 7,929 Potential dilution from equity grants 115 113 Weighted-average number of common shares outstanding - diluted 8,045 8,042 At December 31, 2017 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, 2017 and 2016 totaled to 13,018 38,077 |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 20. Related-Party Transactions We lease two manufacturing facilities totaling approximately 80,000 0.31 28,000 In 2016, Alexandre Thieffry became our Executive Vice President of Finance. Mr. Alexandre Thieffry is the son of Alain Thieffry, our Chief Financial Officer and Chairperson of the Board. Mr. Alexandre Thieffry served as our Controller from 2011 through 2015. Neither Mr. Moreno nor Alexandre Thieffry are directors or executive officers of the Company. Mr. Alain Thieffry is a director and executive officer of the Company. Our audit committee reviews any related party transactions involving our directors and executive officers. |
Subsequent Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 21. Subsequent event On January 26, 2018, the Company entered into global strategic agreements for development, licensing, and revenue sharing with both BrainChip Holdings Limited (ASX: BRN), a leading developer of software and hardware accelerated solutions for advanced artificial intelligence and machine learning applications, and Xuvi, LLC, developers of an immersive data analytics and automation platform. The companies plan to jointly develop products for worldwide deployment in casino currency security, table game operations, and player behavior applications. The terms require payments to BrainChip Holdings Limited and Xuvi, LLC of approximately $ 0.6 0.7 |
Nature of Business and Signif29
Nature of Business and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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. We also include the income or loss earned on our equity method investments, based on our share of the Company’s assets. 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. Certain amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current presentation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents. 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 the current portion of long-term debt approximates the carrying amount of these financial instruments due to their short-term nature. The carrying values of the Company's long-term debt instruments are considered to approximate their fair values because the interest rates of these instruments are variable or comparable to current rates available to the Company. |
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. 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 an estimate of net realizable 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, usage of these items, the projected markets for our products, and selling costs. Inventory that we estimate will not be used within one year is considered non-current inventory. Inventory that we estimate will not be used within the next three years is written down. |
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 Equipment and Furniture 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. We evaluate 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 identify a potential impairment loss when the sum of undiscounted expected cash flows from the asset is less than the carrying amount of such asset. We record an impairment loss when the carrying amount of the long-lived asset is not recoverable and the carrying amount exceeds the estimated fair value. 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 occasion, we 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 the delivery date must be fixed. |
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, including staff compensation and related expenses, subcontract costs, materials, and supplies. Such costs are charged to expense when incurred and are included in our consolidated statements of income. |
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 non-current tax liability or asset for estimated future tax effects, attributable to temporary differences and carryforwards. The Tax Act made significant changes to federal tax law, including a reduction in the federal income tax rate from 35 21 SAB 118 summarizes a three-step process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the Tax Cuts and Jobs Act. 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. We review all of our tax positions and make a determination as to whether our 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. We recognize interest and penalties related to unrecognized tax positions in the provision for income taxes on our 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] | Other Comprehensive Loss. Comprehensive loss includes net income 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 and intangible 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] | Recently Issued Accounting Standards. In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-17, Compensation Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenues from Contracts with Customers (Topic 606) •ASU 2016-08 (Issued March 2016) - Principal versus Agent Consideration (Reporting Revenue Gross versus Net) •ASU 2016-10 (Issued April 2016) - Identifying Performance Obligations and Licensing •ASU 2016-12 (Issued May 2016) - Narrow-Scope Improvements and Practical Expedients •ASU 2016-20 (Issued December 2016) - Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers The guidance provides for a five-step model to determine the revenue recognized for the transfer of goods or services to customers that reflects the expected entitled consideration in exchange for those goods or services. It also provides clarification for principal versus agent considerations and identifying performance obligations. In addition, the FASB introduced practical expedients related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes. Financial statement disclosures required under the guidance will enable users to understand the nature, amount, timing, judgments, and uncertainty of revenue and cash flows relating to customer contracts. The two permitted transition methods under the guidance are the full retrospective approach or a cumulative effect adjustment to the opening retained earnings in the year of adoption (cumulative effect approach). The guidance is effective in 2018. The Company will adopt it in the first quarter of 2018 under the modified retrospective method. Through our comprehensive approach we concluded that this new guidance will not have a material impact, on our consolidated financial statements. We did not need to significantly change our business processes, systems and controls to support recognition and disclosure under the new guidance. Recently Adopted Accounting Standards. In March 2016, the FASB issued ASU 2016-09, Compensation Stock Compensation (Topic 718) In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory |
Nature of Business and Signif30
Nature of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 Equipment and Furniture 2 15 Vehicles 5 7 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents and Investments [Table Text Block] | We hold our cash and cash equivalents in various financial institutions in the countries shown below. Substantially all accounts have balances in excess of government-insured limits. The following table summarizes our holdings at December 31 (in thousands): 2017 2016 France $ 6,611 $ 3,263 United States (including Mexico) 4,936 3,237 Macau S.A.R., China 2,517 4,104 Total $ 14,064 $ 10,604 |
Accounts Receivable and Allow32
Accounts Receivable and Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 Reduction of Net of Exchange Balance at Year provision Recoveries Rate Effect End of Period 2017 $ 804 $ (498) $ - $ 1 $ 307 2016 $ 990 $ (102) $ (84) $ - $ 804 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following at December 31 (in thousands): 2017 2016 Raw materials $ 11,637 $ 11,129 Work in progress 2,432 1,137 Finished goods 3,502 3,319 Total inventories $ 17,571 $ 15,585 |
Schedule of Inventory, Noncurrent [Table Text Block] | We classified a portion of our inventories as non-current because we currently do not expect this portion to be used within one year. The classification of our inventories on our consolidated balance sheets is as follows at December 31 (in thousands): 2017 2016 Current $ 15,118 $ 14,987 Non-current 2,453 598 Total inventories $ 17,571 $ 15,585 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets [Table Text Block] | Other current assets consist of the following at December 31 (in thousands): 2017 2016 Income tax-related assets $ 1,435 $ 722 Refundable value-added tax 996 516 Deposits 327 328 Other, net 78 54 Total other current assets $ 2,836 $ 1,620 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment consist of the following at December 31 (in thousands): 2017 2016 Land $ 669 $ 636 Buildings and improvements 11,196 10,280 Equipment and furniture 40,714 35,618 Vehicles 408 379 Construction in progress 529 1,327 53,516 48,240 Less accumulated depreciation (28,583) (23,930) Property and equipment, net $ 24,933 $ 24,310 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Intangible assets consist of the following at December 31 (dollars in thousands): 2017 2016 Gross Net Gross Net Estimated Carrying Accum Carrying Carrying Accum Carrying Useful Life Amount Amort Amount Amount Amort Amount (Years) Trademarks $ 1,711 $ (700) $ 1,011 $ 1,711 $ (579) $ 1,132 10-15 Customer list 897 (353) 544 897 (278) 619 10-15 Patents 542 (534) 8 542 (527) 15 14 Other intangible assets 472 (359) 113 372 (320) 52 3-10 Total intangible assets $ 3,622 $ (1,946) $ 1,676 $ 3,522 $ (1,704) $ 1,818 |
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 2018 $ 229 2019 223 2020 222 2021 213 2022 155 Thereafter 634 Total $ 1,676 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consist of the following at December 31 (in thousands): 2017 2016 Accrued salaries, wages, and related costs $ 1,359 $ 1,037 Stock appreciation rights liability 1,153 - Accrued fixed asset acquisition liability 1,076 1,076 Accrued vacation 964 894 Accrued bonuses and commissions 953 1,221 Miscellaneous taxes 560 578 Other 714 747 Total accrued liabilities $ 6,779 $ 5,553 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | At December 31, 2017, estimated repayment obligations for the principal balance of long-term debt are as follows (in thousands): Long Term Year Debt 2018 $ 1,401 2019 1,453 2020 1,506 2021 1,561 2022 745 $ 6,666 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 described at Item 8. Financial Statements and Supplementary Data Notes to Consolidated Financial Statements - Note 20. Related-Party Transactions for the years ending December 31 (in thousands): Minimum Lease Year Payments 2018 $ 899 2019 737 2020 620 2021 625 2022 564 Thereafter 338 Total $ 3,783 |
Geographic and Product Line I40
Geographic and Product Line Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 (dollars in thousands): 2017 2016 Revenues The Americas $ 54,638 67.8 % $ 56,247 68.5 % Asia-Pacific 23,200 28.8 % 22,080 26.9 % Europe and Africa 2,764 3.4 % 3,812 4.6 % Total $ 80,602 100.0 % $ 82,139 100.0 % |
Schedule of Product Revenue [Table Text Block] | The following table presents our net sales by product line for the years ended December 31 (dollars in thousands): 2017 2016 Casino currency without RFID $ 14,754 18.3 % $ 15,698 19.1 % Casino currency with RFID 18,041 22.4 % 16,123 19.6 % Total casino currency 32,795 40.7 % 31,821 38.7 % Playing cards 24,864 30.8 % 26,708 32.5 % Table accessories and other products 6,802 8.4 % 6,639 8.1 % Table layouts 5,315 6.6 % 5,259 6.4 % Gaming furniture 3,126 3.9 % 2,645 3.2 % Dice 2,791 3.5 % 2,859 3.5 % RFID solutions 1,623 2.0 % 3,000 3.7 % Shipping 3,286 4.1 % 3,208 3.9 % Total $ 80,602 100.0 % $ 82,139 100.0 % |
Schedule of Property Plant and Equipment by Geographic Area [Table Text Block] | The following table presents our property and equipment, net by geographic area at December 31 (in thousands): 2017 2016 United States $ 13,708 $ 13,242 Mexico 6,851 6,142 France 3,936 4,614 Macau S.A.R., China 438 312 Total $ 24,933 $ 24,310 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table presents our intangible assets, net by geographic area at December 31 (in thousands): 2017 2016 United States $ 1,634 $ 1,772 Macau S.A.R., China 42 46 Total $ 1,676 $ 1,818 |
Pension Plans (Tables)
Pension Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following amounts relate to the Pension Plan at December 31 (in thousands): 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ 497 $ 458 Service cost 31 28 Interest cost 8 10 Actuarial loss 29 38 Benefits paid (8) (18) Effect of foreign exchange rate changes 73 (19) Benefit obligation at end of year $ 630 $ 497 Change in plan assets: Fair value of plan assets at beginning of year $ 317 $ 362 Actual (loss) return on plan assets 8 (34) Effect of foreign exchange rate changes 45 (11) Fair value of plan assets at end of year 370 317 Funded status and accrued benefit cost $ (260) $ (180) |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | Pension Plan assets are measured using a Level 1 valuation methodology and consist of the following asset funds at December 31 (in thousands): 2017 2016 Worldwide bond fund $ 179 $ 158 Guaranteed equity fund 34 31 European equity fund 157 128 Fair value of plan assets at end of year $ 370 $ 317 |
Schedule of Assumptions Used [Table Text Block] | The weighted-average assumptions used in measuring the net periodic benefit cost and Pension Plan obligations as of December 31 are: 2017 2016 Net periodic benefit cost: Discount rate 1.30 % 1.50 % Pension Plan obligations: Discount rate 1.30 % 1.50 % Rate of compensation increase 2.00 % 2.00 % |
Schedule of Net Benefit Costs [Table Text Block] | Net pension expense consisted of the following for the years ended December 31 (in thousands): 2017 2016 Service-cost benefits earned during the period $ 31 $ 28 Interest expense on benefit obligation 8 10 Actual (return) loss on plan assets (8) 34 Actuarial loss 29 38 Net pension expense $ 60 $ 110 |
Stock Option Programs and Sha42
Stock Option Programs and Share-based Compensation Expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes stock option activity for the years ended December 31, 2017 and 2016: Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Value Options Exercise Price Term (Years) (in thousands) Outstanding at January 1, 2016 392,750 $ 7.65 4.3 $ 782 Granted 25,500 9.83 Expired (15,500) 19.40 Outstanding at December 31, 2016 402,750 7.34 3.9 $ 1,855 Granted 25,500 10.97 Expired (12,000) 10.72 Exercised (49,500) 7.07 Outstanding at December 31, 2017 366,750 $ 7.35 3.8 $ 1,431 Exercisable at December 31, 2017 354,750 $ 7.24 3.6 $ 1,425 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following table summarizes the weighted-average assumptions used, and related information, for option activity for the years indicated. 2017 2016 Option valuation assumptions: Dividend yield 1.1 % 0.0 % Expected volatility 36.5 % 34.1 % Risk-free interest rate 1.91 % 1.36 % Expected term of options 5.6 yrs 5.6 yrs Weighted-average fair value of options granted during the period $ 4.05 $ 3.35 |
Schedule of Share-based Compensation, Activity [Table Text Block] | The following table summarizes our reported stock compensation expense, which is included in general and administrative expenses in our consolidated statements of income as of December 31 (in thousands): 2017 2016 Stock compensation $ 400 $ 86 Estimated tax benefit (144) (31) Total stock compensation, net of tax benefit $ 256 $ 55 |
Other Income and Expense (Table
Other Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Other income and expense consist of the following for the years ended December 31 (in thousands): 2017 2016 Interest income $ 1 $ 23 Interest expense (249) (242) Gain on foreign currency transactions 182 187 Other expense, net (19) (2) Total other expense, net $ (85) $ (34) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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): 2017 2016 Current: U.S. Federal $ (47) $ 1,035 U.S. State 182 43 Foreign 494 619 Total Current 629 1,697 Deferred: U.S. Federal 759 666 U.S. State 48 59 Foreign 379 (79) Total Deferred 1,186 646 Income tax provision (benefit) $ 1,815 $ 2,343 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income before income taxes consisted of the following for the years ended December 31 (in thousands): 2017 2016 Foreign $ 5,185 $ 4,532 United States 256 2,994 Income before income taxes $ 5,441 $ 7,526 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of our income tax expense as compared to the tax expense calculated by applying the statutory federal tax rate to income before income taxes for the years ended December 31 is as follows: 2017 2016 Computed expected income tax expense 34.0 % 34.0 % State income taxes, net of federal benefits 1.2 % 1.0 % Subpart F income adjustment 7.4 % 8.6 % Foreign rate differential (excluding research credit) (13.3) % (10.2) % Impact of the Tax Act 5.2 % - French research and low wage credit (4.3) % (3.0) % Other, net 3.1 % 0.7 % Income tax expense 33.4 % 31.1 % |
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): 2017 2016 Deferred tax assets: Tax credits $ 2 $ 1,549 Property and equipment - 357 Stock compensation 371 557 French deferred assets 367 410 Bad debt reserves and inventory 608 774 Accrued Expenses 188 321 Operating loss carry forwards - 7 Other 6 16 Total deferred tax assets 1,542 3,991 Deferred tax liabilities: Excess book basis in shares of GPI-SAS $ - $ 1,547 French deferred liabilities 246 262 Property and equipment 80 - Intangible assets 541 603 Total deferred tax liabilities 867 2,412 Deferred tax assets, net $ 675 $ 1,579 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending amounts of unrecognized tax benefits, including estimated interest and penalties, is as follows (in thousands): 2017 2016 Balance at beginning of year $ 258 $ 241 Foreign currency translation 36 17 Balance at end of year $ 294 $ 258 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Weighted Average Number of Shares [Table Text Block] | The weighted-average number of common shares outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands): 2017 2016 Weighted-average number of common shares outstanding - basic 7,930 7,929 Potential dilution from equity grants 115 113 Weighted-average number of common shares outstanding - diluted 8,045 8,042 |
Nature of Business and Signif46
Nature of Business and Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2017 | |
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 Signif47
Nature of Business and Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | |
FDIC Insured Limit | $ 250,000 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | ||
Accounting Standards Update 2016-16 [Member] | Subsequent Event [Member] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (400,000) | |||
Scenario, Plan [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Dolphin Asset Acquisition (Deta
Dolphin Asset Acquisition (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | May 11, 2018 | May 11, 2016 | |
Business Combination, Consideration Transferred | $ 7.3 | |||
Payments to Acquire Businesses, Gross | $ 1.1 | $ 5.1 | ||
Scenario, Forecast [Member] | ||||
Business Combination, Contingent Consideration, Liability, Current | $ 1.1 | |||
Dolphin Asset Acquisition [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 5.7 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | $ 1.6 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | $ 14,064 | $ 10,604 | $ 17,788 |
Macau S.A.R., China [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | 2,517 | 4,104 | |
France [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | 6,611 | 3,263 | |
United States (including Mexico) [Member] | |||
Cash and Cash Equivalents [Line Items] | |||
Cash and Cash Equivalents | $ 4,936 | $ 3,237 |
Accounts Receivable and Allow50
Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance at Beginning of Year | $ 804 | $ 990 |
Reduction of Provision | (498) | (102) |
Write-offs, Net of Recoveries | 0 | (84) |
Exchange Rate Effect | 1 | 0 |
Balance at End of Period | $ 307 | $ 804 |
Accounts Receivable and Allow51
Accounts Receivable and Allowance for Doubtful Accounts (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
One Casino Customer [Member] | Accounts Receivable [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Concentration Risk, Percentage | 25.00% |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Inventory [Line Items] | ||
Raw materials | $ 11,637 | $ 11,129 |
Work in progress | 2,432 | 1,137 |
Finished goods | 3,502 | 3,319 |
Total inventories | $ 17,571 | $ 15,585 |
Inventories (Details 1)
Inventories (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Inventory [Line Items] | ||
Current | $ 15,118 | $ 14,987 |
Non-current | 2,453 | 598 |
Total inventories | $ 17,571 | $ 15,585 |
Inventories (Details Textual)
Inventories (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Inventory [Line Items] | ||
Inventory Write-down | $ 847 | $ 0 |
Increase (Decrease) in Non-current Inventory | 1,900 | |
Raw Materials [Member] | ||
Inventory [Line Items] | ||
Inventory Reclassified To Noncurrent Inventory | 900 | |
Dolphin Inventory [Member] | ||
Inventory [Line Items] | ||
Inventory Reclassified To Noncurrent Inventory | $ 600 |
Other Current Assets (Details)
Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Other Current Assets [Line Items] | ||
Income tax-related assets | $ 1,435 | $ 722 |
Refundable value-added tax | 996 | 516 |
Deposits | 327 | 328 |
Other, net | 78 | 54 |
Total other current assets | $ 2,836 | $ 1,620 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Land | $ 669 | $ 636 |
Buildings and improvements | 11,196 | 10,280 |
Equipment and furniture | 40,714 | 35,618 |
Vehicles | 408 | 379 |
Construction in progress | 529 | 1,327 |
Property, Plant and Equipment, Gross | 53,516 | 48,240 |
Less accumulated depreciation | (28,583) | (23,930) |
Property and equipment, net | $ 24,933 | $ 24,310 |
Property and Equipment (Detai57
Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $ 4,359 | $ 3,319 |
Construction in Progress, Gross | $ 529 | $ 1,327 |
Goodwill and Intangible Asset58
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross Carrying Amount | $ 3,622 | $ 3,522 |
Intangible assets, Accumulated Amortization | (1,946) | (1,704) |
Intangible assets, Net Carrying Amount | 1,676 | 1,818 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross Carrying Amount | 1,711 | 1,711 |
Intangible assets, Accumulated Amortization | (700) | (579) |
Intangible assets, Net Carrying Amount | $ 1,011 | 1,132 |
Trademarks [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 10 years | |
Trademarks [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 15 years | |
Customer List [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross Carrying Amount | $ 897 | 897 |
Intangible assets, Accumulated Amortization | (353) | (278) |
Intangible assets, Net Carrying Amount | $ 544 | 619 |
Customer List [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 10 years | |
Customer List [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 15 years | |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross Carrying Amount | $ 542 | 542 |
Intangible assets, Accumulated Amortization | (534) | (527) |
Intangible assets, Net Carrying Amount | $ 8 | 15 |
Intangible assets, Estimated Useful Life (Years) | 14 years | |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross Carrying Amount | $ 472 | 372 |
Intangible assets, Accumulated Amortization | (359) | (320) |
Intangible assets, Net Carrying Amount | $ 113 | $ 52 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 3 years | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated Useful Life (Years) | 10 years |
Goodwill and Intangible Asset59
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
2,018 | $ 229 | |
2,019 | 223 | |
2,020 | 222 | |
2,021 | 213 | |
2,022 | 155 | |
Thereafter | 634 | |
Total | $ 1,676 | $ 1,818 |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill And Intangible Asset [Line Items] | ||
Amortization Of Intangible Assets | $ 242,000 | $ 273,000 |
Goodwill | 10,292,000 | 10,292,000 |
Impairment of Intangible Assets, Finite-lived | 0 | 414,000 |
GemGroup Inc [Member] | ||
Goodwill And Intangible Asset [Line Items] | ||
Goodwill | $ 10,300,000 | |
Trademarks [Member] | ||
Goodwill And Intangible Asset [Line Items] | ||
Impairment of Intangible Assets, Finite-lived | $ 414,000 |
Equity Method Investment (Detai
Equity Method Investment (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
May 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Payments to Acquire Equity Method Investments | $ 451 | $ 0 | |
Income (Loss) from Equity Method Investments | $ (40) | $ 0 | |
Onlive Gaming SAS [Member] | |||
Equity Method Investment, Ownership Percentage | 20.00% | ||
Payments to Acquire Equity Method Investments | $ 451 |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accrued liabilities | ||
Accrued salaries, wages, and related costs | $ 1,359 | $ 1,037 |
Stock appreciation rights liability | 1,153 | 0 |
Accrued fixed asset acquisition liability | 1,076 | 1,076 |
Accrued vacation | 964 | 894 |
Accrued bonuses and commissions | 953 | 1,221 |
Miscellaneous taxes | 560 | 578 |
Other | 714 | 747 |
Total accrued liabilities | $ 6,779 | $ 5,553 |
Debt (Details)
Debt (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Principal Balance | |
2,018 | $ 1,401 |
2,019 | 1,453 |
2,020 | 1,506 |
2,021 | 1,561 |
2,022 | 745 |
Long-term Debt | $ 6,666 |
Debt (Details Textual)
Debt (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Jun. 26, 2015 | Dec. 31, 2017 | |
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] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15 | |
Long-term Debt [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Expiration Date | Jun. 26, 2022 | |
Long-term Debt [Member] | Nevada State Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Line of Credit | 10 | |
Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Expiration Date | Jun. 26, 2020 | |
Revolving Credit Facility [Member] | Nevada State Bank [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 5 |
Commitments and Contingencies65
Commitments and Contingencies (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Operating Leases, Future Minimum Payments | |
2,018 | $ 899 |
2,019 | 737 |
2,020 | 620 |
2,021 | 625 |
2,022 | 564 |
Thereafter | 338 |
Total | $ 3,783 |
Commitments and Contingencies66
Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Commitments and Contingencies [Line Items] | ||
Supplemental Unemployment Benefits, Severance Benefits | $ 0.6 | |
Operating Lease, Expense | $ 1 | $ 1.7 |
Geographic and Product Line I67
Geographic and Product Line Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 80,602 | $ 82,139 |
Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 100.00% | 100.00% |
The Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 54,638 | $ 56,247 |
The Americas [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 67.80% | 68.50% |
Asia-Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 23,200 | $ 22,080 |
Asia-Pacific [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 28.80% | 26.90% |
Europe and Africa [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 2,764 | $ 3,812 |
Europe and Africa [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 3.40% | 4.60% |
Geographic and Product Line I68
Geographic and Product Line Information (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 80,602 | $ 82,139 |
Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 100.00% | 100.00% |
Casino currency without RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 14,754 | $ 15,698 |
Casino currency without RFID [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 18.30% | 19.10% |
Casino currency with RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 18,041 | $ 16,123 |
Casino currency with RFID [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 22.40% | 19.60% |
Total casino currency [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 32,795 | $ 31,821 |
Total casino currency [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 40.70% | 38.70% |
Playing Cards [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 24,864 | $ 26,708 |
Playing Cards [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 30.80% | 32.50% |
Table accessories and other products [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 6,802 | $ 6,639 |
Table accessories and other products [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 8.40% | 8.10% |
Table layouts [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 5,315 | $ 5,259 |
Table layouts [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 6.60% | 6.40% |
Gaming furniture [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 3,126 | $ 2,645 |
Gaming furniture [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 3.90% | 3.20% |
Dice [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 2,791 | $ 2,859 |
Dice [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 3.50% | 3.50% |
RFID solutions [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 1,623 | $ 3,000 |
RFID solutions [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 2.00% | 3.70% |
Shipping [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 3,286 | $ 3,208 |
Shipping [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 4.10% | 3.90% |
Geographic and Product Line I69
Geographic and Product Line Information (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 24,933 | $ 24,310 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 13,708 | 13,242 |
Mexico [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 6,851 | 6,142 |
France [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,936 | 4,614 |
Macau S.A.R., China [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 438 | $ 312 |
Geographic and Product Line I70
Geographic and Product Line Information (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $ 1,676 | $ 1,818 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | 1,634 | 1,772 |
Macau S.A.R., China [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $ 42 | $ 46 |
Pension Plans (Details)
Pension Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Change in benefit obligation: | ||
Benefit obligation at beginning of year | $ 497 | $ 458 |
Service cost | 31 | 28 |
Interest cost | 8 | 10 |
Actuarial loss | 29 | 38 |
Benefits paid | (8) | (18) |
Effect of foreign exchange rate changes | 73 | (19) |
Benefit obligation at end of year | 630 | 497 |
Change in plan assets: | ||
Fair value of plan assets at beginning of year | 317 | 362 |
Actual (loss) return on plan assets | 8 | (34) |
Effect of foreign exchange rate changes | 45 | (11) |
Fair value of plan assets at end of year | 370 | 317 |
Funded status and accrued benefit cost | $ (260) | $ (180) |
Pension Plans (Details 1)
Pension Plans (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | $ 370 | $ 317 | $ 362 |
Worldwide bond fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | 179 | 158 | |
Guaranteed equity fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | 34 | 31 | |
European equity fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets at end of year | $ 157 | $ 128 |
Pension Plans (Details 2)
Pension Plans (Details 2) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net periodic benefit cost: | ||
Discount rate | 1.30% | 1.50% |
Pension Plan obligations: | ||
Discount rate | 1.30% | 1.50% |
Rate of compensation increase | 2.00% | 2.00% |
Pension Plans (Details 3)
Pension Plans (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Service-cost benefits earned during the period | $ 31 | $ 28 |
Interest expense on benefit obligation | 8 | 10 |
Actual (return) loss on plan assets | (8) | 34 |
Actuarial loss | 29 | 38 |
Net pension expense | $ 60 | $ 110 |
Pension Plans (Details Textual)
Pension Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 500,000 | $ 400,000 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 100,000 | 100,000 |
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 | $ (260,000) | $ (180,000) |
From 2018 Through 2021 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Projected Benefit Payments | 8,000 | |
From 2022 Through 2025 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Projected Benefit Payments | $ 200,000 |
Stockholders' Equity (Details T
Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 61 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2016 | 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 | $ 2,100 | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 7.30 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.12 | $ 0.12 | |||
Payments of Ordinary Dividends, Common Stock | $ 952 | $ 951 | |||
Common Stock [Member] | |||||
Equity, Class of Treasury Stock [Line Items] | |||||
Stock Repurchased During Period, Shares | 282,922 | ||||
Payments of Ordinary Dividends, Common Stock | $ 1,000 |
Stock Option Programs and Sha77
Stock Option Programs and Share-based Compensation Expense (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares, Outstanding, Begining Balance | 402,750 | 392,750 | |
Shares, Granted | 25,500 | 25,500 | |
Shares, Expired | (12,000) | (15,500) | |
Shares, Exercised | (49,500) | ||
Shares, Outstanding, Ending Balance | 366,750 | 402,750 | 392,750 |
Shares, Exercisable | 354,750 | ||
Weighted-Average Exercise Price, Outstanding, Begining Balance | $ 7.34 | $ 7.65 | |
Weighted-Average Exercise Price, Granted | 10.97 | 9.83 | |
Weighted-Average Exercise Price, Expired | 10.72 | 19.4 | |
Weighted- Average Exercise Price, Exercised | 7.07 | ||
Weighted-Average Exercise Price, Outstanding, Ending Balance | 7.35 | $ 7.34 | $ 7.65 |
Weighted-Average Exercise Price, Exercisable | $ 7.24 | ||
Weighted- Average Remaining Contractual Term (Years), Outstanding | 3 years 9 months 18 days | 3 years 10 months 24 days | 4 years 3 months 18 days |
Weighted- Average Remaining Contractual Term (Years), Exercisable | 3 years 7 months 6 days | ||
Aggregate Intrinsic Value, Outstanding | $ 1,431 | $ 1,855 | $ 782 |
Aggregate Intrinsic Value, Exercisable | $ 1,425 |
Stock Option Programs and Sha78
Stock Option Programs and Share-based Compensation Expense (Details 1) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Option valuation assumptions: | ||
Dividend yield | 1.10% | 0.00% |
Expected volatility | 36.50% | 34.10% |
Risk-free interest rate | 1.91% | 1.36% |
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 | $ 4.05 | $ 3.35 |
Stock Option Programs and Sha79
Stock Option Programs and Share-based Compensation Expense (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock compensation | $ 400 | $ 86 |
Estimated tax benefit | (144) | (31) |
Total stock compensation, net of tax benefit | $ 256 | $ 55 |
Stock Option Programs and Sha80
Stock Option Programs and Share-based Compensation Expense (Details Textual) - USD ($) | 12 Months Ended | |||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 200,000 | $ 0 | ||||||
Deferred Compensation Share-based Arrangements, Liability, Current | 1,153,000 | 0 | ||||||
Share-based Compensation, Total | 400,000 | $ 86,000 | ||||||
Adjustments to Additional Paid in Capital, Stock Appreciation Rights Reclassification | $ (898,000) | |||||||
Number of Appreciation Rights Exercised During Period, Shares | 46,000 | |||||||
Number of Appreciation Rights Remained During Period Shares | 36,000 | |||||||
Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 49,500 | |||||||
Stock Appreciation Rights (SARs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation, Total | $ 300,000 | |||||||
Adjustments to Additional Paid in Capital, Stock Appreciation Rights Reclassification | $ (900,000) | |||||||
Each Non Employee Director [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Stock Options To Be Grant For Each Year To Purchase of Common Stock | 2,000 | |||||||
Stock Options To Be Grant For Each Year To Purchase of Common Stock For Serving On Certain Committees | 1,500 | |||||||
Non Employee Director [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Stock Options To Be Grant To Purchase of Common Stock | 6,000 | |||||||
Maximum Discretionary Stock Options Granted | 100,000 | |||||||
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, Options, Vested, Number of Shares | 40,000 | 30,000 | 30,000 | 30,000 | 20,000 | |||
Directors' Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 450,000 | |||||||
Directors' Plan [Member] | Stock Appreciation Rights (SARs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 262,750 |
Other Income and Expense (Detai
Other Income and Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other Income And Expense [Line Items] | ||
Interest income | $ 1 | $ 23 |
Interest expense | (249) | (242) |
Gain on foreign currency transactions | 182 | 187 |
Other expense, net | (19) | (2) |
Total other expense, net | $ (85) | $ (34) |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Current: | ||
U.S. Federal | $ (47) | $ 1,035 |
U.S. State | 182 | 43 |
Foreign | 494 | 619 |
Total Current | 629 | 1,697 |
Deferred: | ||
U.S. Federal | 759 | 666 |
U.S. State | 48 | 59 |
Foreign | 379 | (79) |
Total Deferred | 1,186 | 646 |
Income tax provision (benefit) | $ 1,815 | $ 2,343 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Taxes [Line Items] | ||
Foreign | $ 5,185 | $ 4,532 |
United States | 256 | 2,994 |
Income before income taxes | $ 5,441 | $ 7,526 |
Income Taxes (Details 2)
Income Taxes (Details 2) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Taxes [Line Items] | ||
Computed expected income tax expense | 34.00% | 34.00% |
State income taxes, net of federal benefits | 1.20% | 1.00% |
Subpart F income adjustment | 7.40% | 8.60% |
Foreign rate differential (excluding research credit) | (13.30%) | (10.20%) |
Impact of the Tax Act | 5.20% | 0.00% |
French research and low wage credit | (4.30%) | (3.00%) |
Other, net | 3.10% | 0.70% |
Income tax expense | 33.40% | 31.10% |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Tax credits | $ 2 | $ 1,549 |
Property and equipment | 0 | 357 |
Stock compensation | 371 | 557 |
French deferred assets | 367 | 410 |
Bad debt reserves and inventory | 608 | 774 |
Accrued Expenses | 188 | 321 |
Operating loss carry forwards | 0 | 7 |
Other | 6 | 16 |
Total deferred tax assets | 1,542 | 3,991 |
Deferred tax liabilities: | ||
Excess book basis in shares of GPI-SAS | 0 | 1,547 |
French deferred liabilities | 246 | 262 |
Property and equipment | 80 | 0 |
Intangible assets | 541 | 603 |
Total deferred tax liabilities | 867 | 2,412 |
Deferred tax assets, net | $ 675 | $ 1,579 |
Income Taxes (Details 4)
Income Taxes (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Taxes [Line Items] | ||
Balance at beginning of year | $ 258 | $ 241 |
Foreign currency translation | 36 | 17 |
Balance at end of year | $ 294 | $ 258 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) € in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018EUR (€) | Dec. 31, 2018 | Dec. 31, 2017USD ($) | Dec. 31, 2016 | |
Income Taxes [Line Items] | ||||
Unremitted Earnings | $ 6.2 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 0.3 | |||
Increase (Decrease) in Deferred Income Taxes | 0.3 | |||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 1.4 | |||
Foreign Earnings Unrepatriated | $ 2 | |||
Scenario, Plan [Member] | ||||
Income Taxes [Line Items] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
GPI SAS [Member] | Subsequent Event [Member] | ||||
Income Taxes [Line Items] | ||||
Income Taxes Paid | € | € 1.4 |
Earnings per Share (Details)
Earnings per Share (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Basic and Diluted Earnings Per Share [Line Items] | ||
Weighted-average number of common shares outstanding - basic | 7,930 | 7,929 |
Potential dilution from equity grants | 115 | 113 |
Weighted-average number of common shares outstanding - diluted | 8,045 | 8,042 |
Earnings per Share (Details Tex
Earnings per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 13,018 | 38,077 |
Related-Party Transactions (Det
Related-Party Transactions (Details Textual) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Related Party Transaction [Line Items] | |
Area Of Lease Property | 80,000 |
Monthly Rental Per Square Feet | $ 0.31 |
Lease Property Monthly Lease | $ 28,000 |
Lease Expiration Date | Dec. 31, 2023 |
Subsequent event (Details Textu
Subsequent event (Details Textual) - Subsequent Event [Member] $ in Millions | Jan. 26, 2018USD ($) |
Brain Chip Holdings Limited [Member] | |
Subsequent Event [Line Items] | |
Contingent Liability | $ 0.6 |
Xuvi [Member] | |
Subsequent Event [Line Items] | |
Contingent Liability | $ 0.7 |