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Note 5 - Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 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 Asset / (Liability)
October - December 2020			9,658				1.3227				(64	)
January - March 2021			11,124				1.4283				819
April - June 2021			9,878				1.4283				727
July - September 2021			10,782				1.4362				856
		$	41,442				1.4058			$	2,338

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 September 30, 2020 Fair Value Asset (Liability)				As of December 31, 2019 Fair Value Asset (Liability)
Foreign Currency forward contracts designated as cash flow hedges (net)		Derivative instruments		$	1,971			$	626
Interest rate swap contract designated as a cash flow hedge (net)		Derivative instruments			(183	)		$	-
Foreign Currency forward contracts not designated as cash flow hedges (net)		Derivative instruments			367				105
Total foreign currency and interest swap forward contracts (net)		Derivative instruments		$	2,155			$	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 - June 30, 2020		$	780			$	(184	)		$	596
Other comprehensive income (loss) before reclassifications			946				(217	)			729
Amount reclassified from AOCI			59				(13	)			46
Other comprehensive income (loss) for the three months ended September 30, 2020			1,005				(230	)			775
Ending AOCI Balance - September 30, 2020		$	1,785			$	(414	)		$	1,371

		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			784				(175	)			609
Amount reclassified from AOCI			376				(87	)			289
Other comprehensive income (loss) for the nine months ended September 30, 2020			1,160				(262	)			898
Ending AOCI Balance - September 30, 2020		$	1,785			$	(414	)		$	1,371

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		$	(43	)
Foreign currency forward contracts for the three months ended September 30, 2020		$	762		Cost of revenues		$	(12	)
Interest rate swap contract for the three months ended September 30, 2020		$	13		Interest expense, net		$	(4	)
					Operating expenses		$	(28	)
Foreign currency forward contracts for the three months ended September 30, 2019		$	(149	)	Cost of revenues		$	(7	)
Interest rate swap contract for the three months ended September 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		$	(290	)
Foreign currency forward contracts for the nine months ended September 30, 2020		$	1,039		Cost of revenues		$	(82	)
Interest rate swap contract for the nine months ended September 30, 2020		$	(141	)	Interest expense, net		$	(4	)
					Operating expenses		$	(182	)
Foreign currency forward contracts for the nine months ended September 30, 2019		$	781		Cost of revenues		$	(38	)
Interest rate swap contract for the nine months ended September 30, 2019		$	-		Interest expense, net		$	-

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Three Months Ended September 30,								Nine Months Ended September 30,
Forward currency contracts not designated as hedges:		2020				2019				2020				2019
Gain (loss) on settlement		$	(18	)		$	(36	)		$	(162	)		$	(115	)
Gain (loss) on change in fair value		$	177			$	16			$	261			$	205

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