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Note 14 - Stockholders' Equity
 6 Months Ended
Jun. 30, 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 June 30, 2015: 


                                   

Accumulated

          
                   

Additional

            

other

    

Total

  
    Common stock    

paid in

            

comprehensive

    

stockholders

  
   

Number

    

Amount

    

capital

    

Deficit

    

income

    

equity

  
                                                 

Balance, March 31, 2015

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

Exercise of stock options

     112,656       469,394       (169,922 )     -       -       299,472  

Repurchase and retirement of shares

     (25,413 )     (32,783 )     (456,753 )     -       -       (489,536 )

Stock-based compensation

     -       -       124,605       -        -       124,605  

Income tax effect related to stock options exercised

     -       -       676,060       -       -       676,060  

Net income for the period

     -       -       -       2,284,995       -       2,284,995  

Increase to reflect the present value of Redeemable non-controlling interest

     -       -       -       (12,150 )     -       (12,150 )

Unrealized loss on foreign currency forward contracts treated as hedges

     -       -       -       -       (38,046 )     (38,046 )

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

     -       -       -       -       371,955       371,955  
                                                 

Balance, June 30, 2015

     11,083,976     $ 14,411,616     $ 22,492,630     $ (1,848,495 )   $ (833,324 )   $ 34,222,427  

The following unaudited table summarizes stockholders' equity transactions for the six month period ended June 30, 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

     187,653       830,343       (282,888 )     -       -       547,455  

Repurchase and retirement of shares

     (433,409 )     (548,786 )     (7,652,895 )     -       -       (8,201,681 )

Stock-based compensation

     -       -       249,653       -        -       249,653  

Income tax effect related to stock options exercised

     -       -       1,088,702       -       -       1,088,702  

Net income for the period

     -       -       -       5,118,938       -       5,118,938  

Increase to reflect the present value of Redeemable non-controlling interest

     -       -       -       (12,150 )     -       (12,150 )

Unrealized loss on foreign currency forward contracts treated as hedges

     -       -       -       -       (998,912 )     (998,912 )

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

     -       -       -       -       788,029       788,029  
                                                 

Balance, June 30, 2015

     11,083,976     $ 14,411,616     $ 22,492,630     $ (1,848,495 )   $ (833,324 )   $ 34,222,427  

On January 8, 2015, the Company announced that it successfully concluded the 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 had 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 25,413 and 239,502 shares under this program during the three and six months ended June 30, 2015 for a total of $489,536 and $4,544,592, respectively.


On March 5, 2014, the Company announced a stock buyback program to 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 six months ended June 30, 2014 (none of which occurred during the quarter ended June 30, 2014) for a total of $82,286.