XML 39 R26.htm IDEA: XBRL DOCUMENT
v3.22.0.1

SELECTED QUARTERLY FINANCIAL INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract] |
SELECTED QUARTERLY FINANCIAL INFORMATION | SELECTED QUARTERLY FINANCIAL INFORMATION The following table summarizes selected quarterly financial information for 2021 and 2020:
| Quarter Ended
(Unaudited) | December 31, |  |  |  |  |  |  |  | December 31, |  |  |  |  |  |
(In thousands, except for per share data) | 2021 |  |  |  |  |  |  |  | 2020 |  |  |  |  |  |
Sales | $ | 116,052 |  |  |  |  |  |  |  |  | $ | 114,803 |  |  |  |  |  |  |
Gross Profit (Sales Less Cost of Products Sold) | $ | 18,464 |  |  |  |  |  |  |  |  | $ | 19,118 |  |  |  |  |  |  |
Net Gain on Sale of Facility | $ | 5,014 |  |  |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |
Earnout on Previous Sale of Business | $ | 10,677 |  |  |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |
Loss Before Income Taxes | $ | (151) |  |  |  |  |  |  |  |  | $ | (7,541) |  |  |  |  |  |  |
Net Income (Loss) | $ | 1,604 |  |  |  |  |  |  |  |  | $ | (19,985) |  |  |  |  |  |  |
Basic Earnings (Loss) Per Share | $ | 0.05 |  |  |  |  |  |  |  |  | $ | (0.65) |  |  |  |  |  |  |
Diluted Earnings (Loss) Per Share | $ | 0.05 |  |  |  |  |  |  |  |  | $ | (0.65) |  |  |  |  |  |  |
In the fourth quarter of 2021, a portion of the AMJP grant received of $7.6 million was recognized as an offset to cost of products sold. This benefit was offset by a legal accrual recorded of $8.4 million relating to an adverse ruling of an on-going patent infringement case. In addition, the Company agreed to an earnout, shown above, with the buyer of the former semiconductor test business as more fully described in Note 22 and sold one of its Aerospace facilities, resulting in $5.0 million gain on sale discussed in Note 23. The Company also reinstituted its 401K employer contribution in the fourth quarter of 2021, and recorded expense of $4.3 million in that period. In the fourth quarter of 2021, after completion of the tax returns for the year ended December 31, 2020, the Company recorded a current federal tax benefit of approximately $1.7 million related to additional net operating loss and R&D tax credits that will be carried back to prior tax years in order to claim a refund. In the fourth quarter of 2020, the Company recorded a partial valuation allowance of $14.1 million against its U.S. federal deferred tax assets

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration