Note 14 - Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note Disclosure [Text Block]

14. Stockholders' Equity:

The following table summarizes stockholders' equity transactions for the three-month period ended September 30, 2020 (Dollar amounts in thousands of U.S. dollars):

											*Accumulated*
						*Additional*					*other*		*Total*
	*Common stock*					*paid in*			*Retained*		*comprehensive*		*stockholders'*
	*Number*			*Amount*		*capital*			*earnings*		*income (loss)*		*equity*

Balances, June 30, 2020		10,570,360			18,865		591			77,322		596		97,374

Exercise of stock options		38,102			1,124		(492	)		-		-		632
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration		(14,948	)		-		(132	)		-		-		(132	)
Stock-based compensation		-			-		1,016			-		-		1,016
Net income		-			-		-			716		-		716
Other comprehensive income (loss)		-			-		-			-		775		775
Balances, September 30, 2020		10,593,514		$	19,989	$	983		$	78,038	$	1,371	$	100,381

The following table summarizes stockholders' equity transactions for the nine-month period ended September 30, 2020 (Dollar amounts in thousands of U.S. dollars):

													*Accumulated*
							*Additional*						*other*		*Total*
	*Common stock*						*paid in*			*Retained*			*comprehensive*		*stockholders'*
	*Number*			*Amount*			*capital*			*earnings*			*income (loss)*		*equity*

Balances, December 31, 2019		10,585,159			16,633			880			76,208			473		94,194

Exercise of stock options		80,037			1,480			(802	)		-			-		678
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration		(33,818	)		-			(479	)		-			-		(479	)
Acquisition of Cedar Holdings Group		32,374			2,000			-			-			-		2,000
Repurchase and retirement of shares		(70,238	)		(124	)		(1,280	)		(1,877	)		-		(3,281	)
Stock-based compensation		-			-			2,664			-			-		2,664
Net income		-			-			-			3,707			-		3,707
Other comprehensive income (loss)		-			-			-			-			898		898
Balances, September 30, 2020		10,593,514		$	19,989		$	983		$	78,038		$	1,371	$	100,381

2020 Stock Buyback Program

On February 12, 2020, the Company announced that its Board had approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. The $40 million buyback program commenced on February 13, 2020 and is expected to terminate on February 12, 2021. For the three months ended September 30, 2020, the Company did not repurchase shares under this program. For the nine months ended September 30, 2020, the Company repurchased 70,238 shares under this program for total consideration of $3.3 million.

2019 Stock Buyback Program

On February 13, 2019, the Company announced that its Board had approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. The $40 million buyback program commenced on February 14, 2019 and terminated on February 13, 2020. During the three and nine months ended September 30, 2019, the Company repurchased 101,816 shares under this program, for a total of $5.0 million. During the nine months ended September 30, 2020, the Company did not repurchase shares under this program.

2018 Stock Buyback Program

On February 14, 2018, the Company announced that its Board of Directors has approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. Purchases were to be made exclusively through the facilities of the NASDAQ Capital Market. The stock buyback program commenced on February 14, 2018 and terminated on February 13, 2019. During the nine months ended September 30, 2019, the Company did not repurchase any shares under this program.