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Note 7 - Income Taxes (Tables)

12 Months Ended

Jan. 31, 2023

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income/(loss) from continuing operations before income taxes (in thousands)		2022				2021
Domestic (1)		$	(5,392	)		$	(3,357	)
Foreign			14,950				11,684
Total		$	9,558			$	8,327

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Components of income tax expense/(benefit) (in thousands)		2022				2021
Current
Federal		$	(3	)		$	1
Foreign			2,971				2,317
State and other			166				144
Total current income tax expense			3,134				2,462
Deferred
Federal			-				-
Foreign			479				(197	)
State and other			-				-
Total deferred income tax expense/(benefit)			479				(197	)
Total income tax expense		$	3,613			$	2,265

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(In thousands)		2022				2021
Tax expense at federal statutory rate		$	2,007			$	1,749
State expense, net of federal income tax effect			110				148
Deferred compensation adjustment			(32	)			456
Domestic valuation allowance			(590	)			(636	)
Domestic return to provision			390				(6	)
Global Intangible Low-Taxed Income inclusion			1,206				742
Valuation allowance for state NOLs			133				(29	)
Differences in foreign tax rate			(410	)			(430	)
Deferred tax on unremitted earnings			438				(55	)
Foreign withholding taxes			304				178
Research tax credit			220				80
Pension Settlement			(115	)			-
All other, net expense			(48	)			68
Total income tax expense/(benefit)		$	3,613			$	2,265

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Components of deferred income tax assets (in thousands)		2022				2021
U.S. Federal NOL carryforward		$	7,197			$	8,424
Deferred compensation			276				350
Research tax credit			2,258				2,573
Foreign NOL carryforward			318				448
Foreign tax credit			2,580				2,580
Stock compensation			43				62
Other accruals not yet deducted			305				276
State NOL carryforward			2,744				2,730
Accrued commissions and incentives			851				483
Inventory valuation allowance			107				116
Lease liability			278				418
Other			165				17
Deferred tax assets, gross			17,122				18,477
Valuation allowance			(15,993	)			(16,905	)
Total deferred tax assets, net of valuation allowances		$	1,129			$	1,572
Components of the deferred income tax liability
Depreciation		$	(415	)		$	(643	)
Foreign subsidiaries unremitted earnings			(591	)			(231	)
Prepaid			(70	)			(54	)
Accrued pension			-				(159	)
Right of use asset			(266	)			(386	)
Total deferred tax liabilities		$	(1,342	)		$	(1,473	)
Deferred tax (liability)/asset, net		$	(213	)		$	99
Balance sheet classification
Long-term assets		$	696			$	811
Long-term liability			(909	)			(712	)
Total deferred tax assets/(liabilities), net of valuation allowances		$	(213	)		$	99

Summary of Income Tax Contingencies [Table Text Block]

(In thousands)		2022				2021
Balance at beginning of year		$	1,611			$	1,591
Decreases in positions taken in a prior period			-				(4	)
Increases in positions taken in a current period			159				66
Decreases due to lapse of statute of limitations			(3	)			(8	)
Decreases due to settlements			(94	)			(34	)
Balance at end of year		$	1,673			$	1,611

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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