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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Taxes [Abstract] |
Income Taxes | ﻿﻿8. INCOME TAXES The components of the income tax expense from continuing operations for the years ended December 31, 2016, 2015, and 2014 are as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | 2016 |  | 2015 |  | 2014
﻿Current |  |  |  |  |  |  |  |  |
﻿Federal |  | $ | 11,605 |  | $ | 9,814 |  | $ | 10,282
﻿State |  |  | 511 |  |  | 396 |  |  | 96
﻿Total current |  |  | 12,116 |  |  | 10,210 |  |  | 10,378
﻿ |  |  |  |  |  |  |  |  |
﻿Deferred |  |  |  |  |  |  |  |  |
﻿Federal |  |  | (3,078) |  |  | (125) |  |  | 176
﻿State |  |  | 253 |  |  | 39 |  |  | 206
﻿Foreign |  |  | (4) |  |  | (20) |  |  | (96)
﻿Total deferred |  |  | (2,829) |  |  | (106) |  |  | 286
﻿ |  |  |  |  |  |  |  |  |
﻿Total income tax expense from continuing operations |  | $ | 9,287 |  | $ | 10,104 |  | $ | 10,664
﻿The total tax provision for the years ended December 31, 2016, 2015, and 2014 was $9.0 million, $9.9 million, $4.9 million, respectively. Those amounts have been allocated to the following financial statement items: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | 2016 |  | 2015 |  | 2014
﻿ |  |  |  |  |  |  |  |  |
﻿Income from continuing operations |  | $ | 9,287 |  | $ | 10,104 |  | $ | 10,664
﻿Income/(loss) from discontinued operations |  |  | - |  |  | 387 |  |  | (5,302)
﻿Stockholders' equity, unrealized gain loss on investment securities & foreign currency |  |  | (74) |  |  | (357) |  |  | (182)
﻿Additional paid in capital, share-based compensation tax benefit |  |  | (230) |  |  | (247) |  |  | (275)
﻿ |  |  |  |  |  |  |  |  |
﻿Total income tax expense |  | $ | 8,983 |  | $ | 9,887 |  | $ | 4,905
﻿ The Company elected to early adopt pronouncement ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, as of December 31, 2016 and applied its provisions retrospectively to each prior period presented for comparative purposes. The provision requires the Company to classify all deferred tax assets and liabilities as noncurrent, For the year s ended December 31, 2016, 2015, and 2014, the Company reclassified $1.7 million, $1.2 million, and $3.7 million, respectively, in current net deferred tax assets against the Company’s non-current deferred tax liability. Deferred tax assets (liabilities) consisted of the following at December 31, ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | 2016 |  | 2015 |  | 2014
﻿ |  |  |  |  |  |  |  |  |
﻿Reserves on inventory and sales |  | $ | 446 |  | $ | 199 |  | $ | 291
﻿Credit and loss carryforwards |  |  | 527 |  |  | 735 |  |  | 699
﻿Stock compensation |  |  | 1,333 |  |  | 1,149 |  |  | 1,283
﻿Accrued expenses and deferred costs |  |  | 638 |  |  | 1,068 |  |  | 3,170
﻿Inventory capitalization |  |  | 252 |  |  | 49 |  |  | 142
﻿Sales tax accrual |  |  | - |  |  | - |  |  | 8
﻿Unrealized gain on investments |  |  | 160 |  |  | 85 |  |  | -
﻿Total deferred tax assets |  |  | 3,356 |  |  | 3,285 |  |  | 5,593
﻿ |  |  |  |  |  |  |  |  |
﻿Unrealized loss on investments |  |  | - |  |  | - |  |  | (294)
﻿Prepaid expenses |  |  | (659) |  |  | (755) |  |  | (779)
﻿Depreciation |  |  | (3,453) |  |  | (6,189) |  |  | (6,285)
﻿Foreign currency |  |  | (23) |  |  | (23) |  |  | -
﻿Total deferred tax liabilities |  |  | (4,135) |  |  | (6,967) |  |  | (7,358)
﻿ |  |  |  |  |  |  |  |  |
﻿Net deferred tax liabilities |  | $ | (779) |  | $ | (3,682) |  | $ | (1,765)
﻿ The differences between the United States federal statutory tax rate and the Company's effective tax rate for the years ended December 31, 2016, 2015, and 2014 are as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | 2016 |  | 2015 |  | 2014
﻿Statutory federal tax |  | $ | 9,493 |  | 35.0% |  | $ | 10,381 |  | 35.0% |  | $ | 11,093 |  | 35.0%
﻿State income taxes, net of federal benefit |  |  | 797 |  | 2.9% |  |  | 414 |  | 1.4% |  |  | 314 |  | 1.0%
﻿Foreign Taxes |  |  | 3 |  | 0.0% |  |  | 15 |  | 0.1% |  |  | 73 |  | 0.2%
﻿Domestic manufacturer deduction |  |  | (920) |  | -3.4% |  |  | (824) |  | -2.8% |  |  | (811) |  | -2.6%
﻿Other permanent differences |  |  | 41 |  | 0.2% |  |  | 4 |  | 0.0% |  |  | 200 |  | 0.6%
﻿Research and development and jobs credits |  |  | (163) |  | -0.6% |  |  | (247) |  | -0.8% |  |  | (203) |  | -0.6%
﻿Other state income tax benefits |  |  | - |  | 0.0% |  |  | 114 |  | 0.4% |  |  | (113) |  | -0.4%
﻿Other |  |  | 36 |  | 0.1% |  |  | 247 |  | 0.8% |  |  | 111 |  | 0.4%
﻿ |  | $ | 9,287 |  | 34.2% |  | $ | 10,104 |  | 34.1% |  | $ | 10,664 |  | 33.6%
﻿ The 2016, 2 015 and 2014 effective tax rates were impacted by the Company’s extensive state income tax planning. This planning includes taking advantage of Maryland’s apportionment methodology. As a manufacturing entity based in Maryland, the Company utilizes the single sales factor apportionment method in addition to claiming new state jobs credits and research & development credits. In 2014 the Company benefited from research and development credits effective January 1, 2014 in addition to filing an amended federal return to claim 2010 research and development credits due to changes in Federal regulations. The Company has separate company state net operating loss carry forwards totaling $8.0 million that start expiring in 2031 and a capital loss carryforward totaling $110 thousand that expires in 2022. Maryland state credits carry forwards totaling $116 thousand w ill begin to expire in 201 7.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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