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Note 14 - Stockholders' Equity
 9 Months Ended
Sep. 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 September 30, 2015: 


    Common stock      

Additional

paid in

          

Accumulated

other

comprehensive

    

Total

stockholders

  
   

Number

    

Amount

    

capital

    

Deficit

    

income

    

equity

  
                                                 

Balance, June 30, 2015

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

Exercise of stock options

     41,404       272,269       (82,356 )     -       -       189,913  

Repurchase and retirement of shares

     (398,000 )     (523,696 )     (9,453,799 )     -       -       (9,977,495 )

Stock-based compensation

     -       -       128,575       -       -       128,575  

Income tax effect related to stock options exercised

     -       -       312,092       -       -       312,092  

Net income for the period

     -       -       -       3,159,457       -       3,159,457  

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

     -       -       -       (12,199 )     -       (12,199 )

Unrealized loss on foreign currency forward contracts treated as hedges

     -       -       -       -       (724,336 )     (724,336 )

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

     -       -       -       -       364,330       364,330  
                                                 

Balance, September 30, 2015

     10,727,380     $ 14,160,189     $ 13,397,142     $ 1,298,763     $ (1,193,330 )   $ 27,662,764  

The following unaudited table summarizes stockholders' equity transactions for the nine month period ended September 30, 2015: 


    Common stock      

Additional

paid in

            

Accumulated

other

comprehensive

    

Total

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

     229,057       1,102,612       (365,244 )     -       -       737,368  

Repurchase and retirement of shares

     (831,409 )     (1,072,482 )     (17,106,694 )     -       -       (18,179,176 )

Stock-based compensation

     -       -       378,228       -       -       378,228  

Income tax effect related to stock options exercised

     -       -       1,400,794       -       -       1,400,794  

Net income for the period

     -       -       -       8,278,395       -       8,278,395  

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

     -       -       -       (24,349 )     -       (24,349 )

Unrealized loss on foreign currency forward contracts treated as hedges

     -       -       -       -       (1,723,248 )     (1,723,248 )

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

     -       -       -       -       1,152,359       1,152,359  
                                                 

Balance, September 30, 2015

     10,727,380     $ 14,160,189     $ 13,397,142     $ 1,298,763     $ (1,193,330 )   $ 27,662,764  

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 398,000 and 637,502 shares under this program during the three and nine months ended September 30, 2015 for a total of $9,977,495 and $14,522,087, 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 73,300 shares under this program during the three months ended September 30, 2014 for a total of $1.1 million. The Company repurchased 79,392 shares under this program during the nine months ended September 30, 2014 for a total of $1.2 million.