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Note 7 - Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 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
January - March 2021			11,125				1.4283				1,327
April - June 2021			9,879				1.4283				1,179
July - September 2021			10,782				1.4362				1,353
		$	31,786				1.4310			$	3,860

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 December 31, 2020 Fair Value Asset				As of December 31, 2019 Fair Value Asset
Foreign Currency forward contracts designated as cash flow hedges (net)	Derivative instruments		$	3,254			$	626
Interest rate swap contract designated as a cash flow hedge (net)	Derivative instruments		$	(213	)		$	-
Foreign Currency forward contracts not designated as cash flow hedges (net)	Derivative instruments			606				105
Total foreign currency forward contracts (net)	Derivative instruments		$	3,647			$	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 - December 31, 2019		$	625			$	(152	)		$	473
Other comprehensive income (loss) before reclassifications			2,142				(489	)			1,653
Amount reclassified from AOCI			271				(61	)			210
Other comprehensive income (loss) for the year ended December 31, 2020			2,413				(550	)			1,863
Ending AOCI Balance - December 31, 2020		$	3,038			$	(702	)		$	2,336

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2018		$	(1,069	)		$	259			$	(810	)
Other comprehensive income (loss) before reclassifications			1,454				(353	)			1,101
Amount reclassified from AOCI			240				(58	)			182
Other comprehensive income (loss) for the year ended December 31, 2019			1,694				(411	)			1,283
Ending AOCI Balance - December 31, 2019		$	625			$	(152	)		$	473

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2017		$	-			$	-			$	-
Other comprehensive income (loss) before reclassifications			(1,350	)			328				(1,022	)
Amount reclassified from AOCI			281				(69	)			212
Other comprehensive income (loss) for the year ended December 31, 2018			(1,069	)			259				(810	)
Ending AOCI Balance - December 31, 2018		$	(1,069	)		$	259			$	(810	)

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		$	(188	)
Foreign currency forward contracts for the year ended December 31, 2020		$	2,026		Cost of revenues		$	(66	)
Interest rate swap contract for the year ended December 31, 2020		$	(163	)	Interest expense, net		$	(17	)
					Operating expenses		$	(197	)
Foreign currency forward contracts for the year ended December 31, 2019		$	1,283		Cost of revenues		$	(43	)
Interest rate swap contract for the year ended December 31, 2019		$	-		Interest expense, net		$	-
					Operating expenses		$	(245	)
Foreign currency forward contracts for the year ended December 31, 2018		$	(810	)	Cost of revenues		$	(36	)
Interest rate swap contract for the year ended December 31, 2018		$	-		Interest expense, net		$	-

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Year Ended December 31,
Forward currency contracts not designated as hedges:		2020				2019				2018
Gain (loss) on settlement		$	(117	)		$	(115	)		$	(47	)
Gain (loss) on change in fair value		$	500			$	313			$	(207	)

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