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Note 5 - Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Maturity date (Dollar amounts in thousands of U.S. dollars)		Notional amount of U.S. dollars				Weighted average exchange rate of U.S. dollars				Fair value
July - September 2020			10,656				1.3227				(273	)
October - December 2020			9,658				1.3227				(247	)
January - March 2021			11,124				1.4283				574
April - June 2021			9,878				1.4283				507
July - September 2021			10,782				1.4362				611
		$	52,098				1.3888			$	1,172

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives (Dollar amounts in thousands of U.S. dollars)		Balance Sheet Location		As of June 30, 2020 Fair Value Asset (Liability)				As of December 31, 2019 Fair Value Asset
Foreign Currency forward contracts designated as cash flow hedges (net)		Derivative instruments		$	982			$	626
Interest rate swap contract designated as a cash flow hedge (net)		Derivative instruments			(200	)		$	-
Foreign Currency forward contracts not designated as cash flow hedges (net)		Derivative instruments			190				105
Total foreign currency forward contracts (net)		Derivative instruments		$	972			$	731

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - March 31, 2020		$	(932	)		$	214			$	(718	)
Other comprehensive income (loss) before reclassifications			1,453				(339	)			1,114
Amount reclassified from AOCI			259				(59	)			200
Other comprehensive income (loss) for the three months ended June 30, 2020			1,712				(398	)			1,314
Ending AOCI Balance - June 30, 2020		$	780			$	(184	)		$	596

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2019		$	625			$	(152	)		$	473
Other comprehensive income (loss) before reclassifications			(162	)			42				(120	)
Amount reclassified from AOCI			317				(74	)			243
Other comprehensive income (loss) for the six months ended June 30, 2020			155				(32	)			123
Ending AOCI Balance - June 30, 2020		$	780			$	(184	)		$	596

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivatives in Cash Flow Hedging Relationship		Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative			Location of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income
					Operating expenses		$	(201	)
Foreign currency forward contracts for the three months ended June 30, 2020		$	1,314		Cost of revenues		$	(58	)
Interest rate swap contract for the three months ended June 30, 2020		$	-		Interest expense, net		$	-
					Operating expenses		$	(91	)
Foreign currency forward contracts for the three months ended June 30, 2019		$	320		Cost of revenues		$	(15	)
Interest rate swap contract for the three months ended June 30, 2019		$	-		Interest expense, net		$	-

Derivatives in Cash Flow Hedging Relationship		Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative			Location of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income
					Operating expenses		$	(246	)
Foreign currency forward contracts for the six months ended June 30, 2020		$	123		Cost of revenues		$	(71	)
Interest rate swap contract for the six months ended June 30, 2020		$	-		Interest expense, net		$	-
					Operating expenses		$	(154	)
Foreign currency forward contracts for the six months ended June 30, 2019		$	930		Cost of revenues		$	(32	)
Interest rate swap contract for the six months ended June 30, 2019		$	-		Interest expense, net		$	-

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Three Months Ended June 30,								Six Months Ended June 30,
Forward currency contracts not designated as hedges:		2020				2019				2020				2019
Gain (loss) on settlement		$	(55	)		$	(39	)		$	(148	)		$	(78	)
Gain (loss) on change in fair value		$	436			$	70			$	88			$	188

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