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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Significant Components Deferred Tax Liabilities | Significant components of the Company's deferred tax assets and liabilities from continuing operations are as follows at the respective year ends:
(in thousands) | 2024 |  | 2023
Deferred income tax assets: |  |  |
Inventory valuation reserves | $ | 1,570 |  |  | $ | 1,829 |
Inventory capitalization | 550 |  |  | 360 |
Accrued bonus | 318 |  |  | 127 |
State net operating loss carryforwards | 2,055 |  |  | 2,239 |
Federal net operating loss carryforwards | 4,075 |  |  | 2,209 |
Lease liabilities | 7,484 |  |  | 7,415 |
Interest Limitation Carryforwards | 1,488 |  |  | 1,396 |
Intangible asset basis differences | 781 |  |  | 2,564 |
Other | 1,444 |  |  | 1,932 |
Total deferred income tax assets | 19,765 |  |  | 20,071 |
State valuation allowance | (2,026) |  |  | (1,641) |
Federal valuation allowance | (7,040) |  |  | — |
Total net deferred income tax assets | 10,699 |  |  | 18,430 |
Deferred income tax liabilities: |  |  |
Fixed asset basis differences | 4,010 |  |  | 5,478 |
Prepaid expenses | 300 |  |  | 445 |
Lease assets | 6,709 |  |  | 6,699 |
Total deferred income tax liabilities | 11,019 |  |  | 12,622 |
Deferred income taxes, net | $ | (320) |  |  | $ | 5,808 |
Schedule of Components of Provision for Income Taxes | Significant components of the provision for income taxes are as follows:
(in thousands) | 2024 |  | 2023 |  |
Current: |  |  |  |  |
Federal | $ | (42) |  |  | $ | (561) |  |  |
State | 69 |  |  | 191 |  |  |
Total current | 27 |  |  | (370) |  |  |
Deferred: |  |  |  |  |
Federal | 5,552 |  |  | (5,965) |  |  |
State | 580 |  |  | (589) |  |  |
Total deferred | 6,132 |  |  | (6,554) |  |  |
Total | $ | 6,159 |  |  | $ | (6,924) |  |  |
Schedule of Reconciliation of Income Taxes Computed at U.S. Rate to Income Tax Expense | The reconciliation of income tax computed at the U. S. federal statutory tax rates to income tax expense is:
(in thousands) | 2024 |  | 2023 |  |
Amount |  | % |  | Amount |  | % |  |  |  |
Tax at U.S. statutory rates | $ | (1,064) |  |  | 21.0 | % |  | $ | (8,616) |  |  | 21.0 | % |  |  |  |
State income taxes, net of federal tax benefit | 112 |  |  | (2.2) | % |  | (585) |  |  | 1.4 | % |  |  |  |
State valuation allowance | 400 |  |  | (7.9) | % |  | 270 |  |  | (0.7) | % |  |  |  |
Federal valuation allowance | 6,539 |  |  | (129.2) | % |  | — |  |  | — | % |  |  |  |
Stock option compensation | 37 |  |  | (0.7) | % |  | 87 |  |  | (0.2) | % |  |  |  |
Other nondeductible expenses | (5) |  |  | 0.1 | % |  | 33 |  |  | (0.1) | % |  |  |  |
Goodwill impairment | — |  |  | — | % |  | 2,049 |  |  | (5.0) | % |  |  |  |
Other, net | 140 |  |  | (2.7) | % |  | (162) |  |  | 0.5 | % |  |  |  |
Total | $ | 6,159 |  |  | (121.6) | % |  | $ | (6,924) |  |  | 16.9 | % |  |  |  |

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- 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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