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Note 14 - Stockholders' Equity
 3 Months Ended
Mar. 31, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

14. STOCKHOLDERS' EQUITY:


The following unaudited table summarizes stockholders' equity transactions for the three month period ended March 31, 2015: 


                                   

Accumulated

         
                   

Additional

           

other

   

Total

 
    Common stock    

paid in

           

comprehensive

   

stockholders

 
   

Number

   

Amount

   

capital

   

Deficit

   

income

   

equity

 
                                                 

Balance, December 31, 2014

    11,329,732     $ 14,130,059     $ 29,090,058     $ (6,955,283 )   $ (622,441 )   $ 35,642,393  
                                                 

Exercise of stock options

    74,997       360,949       (112,966 )     -        -       247,983  

Repurchase and retirement of shares

    (407,996 )     (516,003 )     (7,196,142 )      -        -       (7,712,145 )

Stock-based compensation

    -       -       125,048        -        -       125,048  

Income tax effect related to stock options exercised

    -       -       412,642        -        -       412,642  

Net income for the period

    -       -       -       2,833,943        -       2,833,943  

Unrealized loss on foreign currency forward contracts treated as hedges

    -       -       -        -       (960,866 )     (960,866 )

Reclassification to net income due to settlement of foreign currency forward contracts treated as hedges

    -       -       -        -       416,074       416,074  
                                                 

Balance, March 31, 2015

    10,996,733     $ 13,975,005     $ 22,318,640     $ (4,121,340 )   $ (1,167,233 )   $ 31,005,072  

On January 8, 2015, the Company announced that it successfully concluded a modified “Dutch auction tender offer” that was previously announced on December 8, 2014. Under the terms of the offer, the Company repurchased an aggregate of 193,907 shares of its common stock at a purchase price of $18.50 per share, for a total of $3,587,280, excluding transaction costs of approximately $70,000. The purchase price and all transaction costs were funded from available cash. All shares purchased in the tender offer received the same price and all shares repurchased were immediately retired. As a result of the completion of the tender offer, as of January 7, 2015, the Company had 11,135,825 shares issued and outstanding.


On February 11, 2015, the Company announced that its Board of Directors has approved a stock buyback program to repurchase up to $20 million of its common stock in the open market. Purchases will be made exclusively through the facilities of the NASDAQ Capital Market. The stock buyback program commenced on February 16, 2015 and will terminate on or before February 15, 2016. The Company repurchased 214,089 shares under this program during the three months ended March 31, 2015 for a total of $4,055,056.


On March 5, 2014, the Company announced a stock buyback program. Under this buyback program, the Company may repurchase up to $20 million of the Company's common stock over the 12-month period that commenced on March 4, 2014. The Company repurchased 6,092 shares under this program during the three months ended March 31, 2014 for a total of $82,286.