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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2017
INCOME TAXES [Abstract] |
Income Before Income Taxes | The components of income before income taxes were as follows (in thousands):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Domestic |  | $ | 13,183 |  |  | $ | 11,079 |  |  | $ | (42,179 | )
Foreign |  |  | 3,709 |  |  |  | (1,405 | ) |  |  | 3,259 |
Total income before taxes |  | $ | 16,892 |  |  | $ | 9,674 |  |  | $ | (38,920 | )
Provision for Income Taxes | The provision for income taxes consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Current - |  |  |  |  |  |  |  |  |
Federal |  | $ | 1,400 |  |  | $ | (902 | ) |  | $ | 5,182 |
State |  |  | 698 |  |  |  | 136 |  |  |  | 1,499 |
Foreign |  |  | 2,092 |  |  |  | 602 |  |  |  | 2,493 |
|  |  | 4,190 |  |  |  | (164 | ) |  |  | 9,174 |
Deferred - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 686 |  |  |  | 4,174 |  |  |  | (7,090 | )
State |  |  | (464 | ) |  |  | 120 |  |  |  | - |
Foreign |  |  | (4,049 | ) |  |  | (1,607 | ) |  |  | (1,934 | )
|  |  | (3,827 | ) |  |  | 2,687 |  |  |  | (9,024 | )
|  | $ | 363 |  |  | $ | 2,523 |  |  | $ | 150 |
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, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Income taxes computed at federal statutory rate |  | $ | 5,912 |  |  | $ | 3,386 |  |  | $ | (13,622 | )
State income taxes, net of federal benefit |  |  | 152 |  |  |  | 166 |  |  |  | 974 |
Non-tax deductible impairment expense computed at federal statutory rate |  |  | - |  |  |  | - |  |  |  | 15,765 |
Foreign adjustment |  |  | 255 |  |  |  | 140 |  |  |  | 689 |
Meals and entertainment |  |  | 422 |  |  |  | 361 |  |  |  | 620 |
Gain on sale of Vertex |  |  | - |  |  |  | (1,971 | ) |  |  | - |
Domestic Production Activity Deduction |  |  | (98 | ) |  |  | - |  |  |  | (1,143 | )
Research and development tax credit |  |  | (641 | ) |  |  | (886 | ) |  |  | (1,730 | )
Foreign tax credit |  |  | - |  |  |  | (383 | ) |  |  | (921 | )
Valuation Allowance |  |  | (791 | ) |  |  | - |  |  |  | - |
Tax Reform Deferred Tax Remeasurement |  |  | (1,294 | ) |  |  | - |  |  |  | - |
Canadian Acquisition Deferred Tax Liability True Up |  |  | (2,180 | ) |  |  | - |  |  |  | - |
Foreign rate difference |  |  | (297 | ) |  |  | 112 |  |  |  | (261 | )
Other |  |  | (1,077 | ) |  |  | 1,598 |  |  |  | (221 | )
|  | $ | 363 |  |  | $ | 2,523 |  |  | $ | 150 |
Deferred Tax Liabilities and Assets | Deferred tax liabilities and assets were comprised of the following (in thousands):
|  | December 31, |
|  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |
Goodwill |  | $ | 2,668 |  |  | $ | 4,029 |
Allowance for doubtful accounts |  |  | 1,707 |  |  |  | 2,469 |
Inventories |  |  | 2,365 |  |  |  | 3,944 |
Accruals |  |  | (61 | ) |  |  | 97 |
Research and development credit carryforward |  |  | 1,115 |  |  |  | 886 |
Foreign Tax Credit Carryforward |  |  | 64 |  |  |  | 64 |
Charitable Contribution Carryforward |  |  | 559 |  |  |  | 138 |
Net operating loss carryforward |  |  | 136 |  |  |  | 760 |
Capital loss carryforward |  |  | 12,225 |  |  |  | 18,903 |
Deferred Compensation |  |  | 475 |  |  |  | 1,881 |
Other Accruals |  |  | 266 |  |  |  | - |
Other |  |  | 65 |  |  |  | 107 |
Total deferred tax assets |  |  | 21,584 |  |  |  | 33,278 |
Less valuation allowance |  |  | (12,220 | ) |  |  | (19,633 | )
Total deferred tax asset, net of valuation Deferred tax liabilities : |  |  | 9,364 |  |  |  | 13,645 |
Intangibles |  |  | (8,695 | ) |  |  | (10,042 | )
Property and equipment |  |  | (6,860 | ) |  |  | (12,762 | )
Unremitted foreign earnings |  |  | (354 | ) |  |  | (354 | )
Cumulative translation adjustment |  |  | (67 | ) |  |  | - |
Other |  |  | (457 | ) |  |  | - |
Net deferred tax liability |  | $ | (7,069 | ) |  | $ | (9,513 | )

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