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Note 6 - Income Taxes
 3 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

Note 6: Income Taxes


For the three months ended March 31, 2016, the Company recorded income tax expense of $418,000. This compares to income tax expense of $201,000 for the three month ended March 31, 2015. The Company began to recognize income tax expense in the quarter ended December 31, 2014 after the reversal of its deferred tax asset valuation allowance. In the third quarter of fiscal year 2014, the Company released 96.7% of its valuation allowance previously recorded on its net deferred tax assets which resulted in a $16.8 million credit to income tax expense, partially offset by the current income tax expense for the year.


Deferred tax assets decreased $ $408,000 from $13.8 million at December 31, 2015 to $13.4 million at March 31, 2016. This decrease was due to deferred taxes being applied to the tax liability on current year taxable income.


The Company will continue to evaluate its ability to realize its net deferred tax asset. If future evidence suggests that it is more likely than not that a portion of the deferred tax asset will not be realized, the valuation allowance may be increased