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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2016
INCOME TAXES [Abstract] |
Income Before Income Taxes | The components of income before income taxes are as follows (in thousands):
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Domestic |  | $ | 11,079 |  |  | $ | (42,179 | ) |  | $ | (21,349 | )
Foreign |  |  | (1,405 | ) |  |  | 3,259 |  |  |  | (4,207 | )
Total income before taxes |  | $ | 9,674 |  |  | $ | (38,920 | ) |  | $ | (25,556 | )
Provision for Income Taxes | The provision for income taxes consists of the following (in thousands):
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Current - |  |  |  |  |  |  |  |  |
Federal |  | $ | (902 | ) |  | $ | 5,182 |  |  | $ | 24,050 |
State |  |  | 136 |  |  |  | 1,499 |  |  |  | 5,604 |
Foreign |  |  | 602 |  |  |  | 2,493 |  |  |  | 2,150 |
|  |  | (164 | ) |  |  | 9,174 |  |  |  | 31,804 |
Deferred - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 4,174 |  |  |  | (7,090 | ) |  |  | (10,544 | )
State |  |  | 120 |  |  |  | - |  |  |  | (1,769 | )
Foreign |  |  | (1,607 | ) |  |  | (1,934 | ) |  |  | 191 |
|  |  | 2,687 |  |  |  | (9,024 | ) |  |  | (12,122 | )
|  | $ | 2,523 |  |  | $ | 150 |  |  | $ | 19,682 |
Difference between Income Taxes Computed at the Federal Statutory Income Tax Rate and the Provision for Income Taxes | The difference between income taxes computed at the federal statutory income tax rate (35%) and the provision for income taxes is as follows (in thousands):
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Income taxes computed at federal statutory rate |  | $ | 3,386 |  |  | $ | (13,622 | ) |  | $ | (8,945 | )
State income taxes, net of federal benefit |  |  | 166 |  |  |  | 974 |  |  |  | 2,492 |
Non-tax deductible impairment expense computed at federal statutory rate |  |  | - |  |  |  | 15,765 |  |  |  | 24,444 |
Foreign adjustment |  |  | 140 |  |  |  | 689 |  |  |  | 1,353 |
Meals and entertainment |  |  | 361 |  |  |  | 620 |  |  |  | 801 |
Gain on sale of Vertex |  |  | (1,971 | ) |  |  | - |  |  |  | - |
Domestic Production Activity Deduction |  |  | - |  |  |  | (1,143 | ) |  |  | (1,040 | )
Research and development tax credit |  |  | (886 | ) |  |  | (1,730 | ) |  |  | (587 | )
Foreign tax credit |  |  | (383 | ) |  |  | (921 | ) |  |  | (343 | )
Provision to return adjustments |  |  | 927 |  |  |  | - |  |  |  | - |
Other |  |  | 783 |  |  |  | (482 | ) |  |  | 1,507 |
|  | $ | 2,523 |  |  | $ | 150 |  |  | $ | 19,682 |
Net Current and Noncurrent Components of Deferred Income Tax Balances | The net current and noncurrent components of deferred income tax balances are as follows (in thousands):
|  | December 31, |
|  | 2016 |  |  | 2015 |
Net current assets |  | $ | 9,473 |  |  | $ | 8,996 |
Net non-current liabilities |  |  | (18,986 | ) |  |  | (6,312 | )
Net assets (liabilities) |  | $ | (9,513 | ) |  | $ | 2,684 |
Deferred tax liabilities and assets were comprised of the following (in thousands):
|  | December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |
Goodwill |  | $ | 4,029 |  |  | $ | 9,136 |
Allowance for doubtful accounts |  |  | 2,469 |  |  |  | 2,692 |
Inventories |  |  | 3,944 |  |  |  | 3,312 |
Accruals |  |  | 1,978 |  |  |  | 2,354 |
Research and development credit carryforward |  |  | 886 |  |  |  | - |
Net operating loss carryforward |  |  | 760 |  |  |  | 730 |
Cumulative translation adjustment |  |  | - |  |  |  | 8,605 |
Capital loss carryforward |  |  | 18,903 |  |  |  | - |
Other |  |  | 309 |  |  |  | 730 |
Total deferred tax assets |  |  | 33,278 |  |  |  | 27,559 |
Less valuation allowance |  |  | (19,633 | ) |  |  | (730 | )
Total deferred tax asset, net of valuation Deferred tax liabilities |  |  | 13,645 |  |  |  | 26,829 |
Intangibles |  |  | (10,042 | ) |  |  | (13,314 | )
Property and equipment |  |  | (12,762 | ) |  |  | (10,824 | )
Unremitted foreign earnings |  |  | (354 | ) |  |  | (259 | )
Other |  |  | - |  |  |  | 252 |
Net deferred tax asset (liability) |  | $ | (9,513 | ) |  | $ | 2,684 |

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