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Note 4 - Supplemental Balance Sheet Information | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Supplemental Balance Sheet Disclosures [Text Block] | Note 4 - Supplemental Balance Sheet Information
a. | Inventory , N et
Inventories are stated at the lower of cost or net realizable value with cost determined under the first -in, first -out (FIFO) method. The composition of inventories , net was:
|  | December 31, |
|  | 201 7 |  |  | 201 6 |
Raw M aterials |  | $ | 14,606 |  |  | $ | 14,482 |
Work in P rocess |  |  | 2,013 |  |  |  | 986 |
Finished P roducts |  |  | 9,707 |  |  |  | 7,988 |
Total |  | $ | 26,326 |  |  | $ | 23,456 |
b. | Property, Plant and Equipment
Major classes of property, plant and equipment consisted of the following:
|  | December 31, |
|  | 201 7 |  |  | 201 6 |
Land |  | $ | 123 |  |  | $ | 123 |
Buildings and Leasehold I mprovements |  |  | 7,858 |  |  |  | 7,757 |
Machinery and E quipment |  |  | 50,852 |  |  |  | 49,722 |
Furniture and F ixtures |  |  | 2,005 |  |  |  | 1,947 |
Computer Hardware and S oftware |  |  | 5,338 |  |  |  | 5,223 |
Construction in P rogress |  |  | 535 |  |  |  | 421 |
|  |  | 66,711 |  |  |  | 65,193 |
Less – Accumulated Depreciation |  |  | (59,141 | ) |  |  | (57,194 | )
Total |  | $ | 7,570 |  |  | $ | 7,999 |
Estimated costs to complete construction-in-progress as of December 31, 2017 and 2016 were approximately $5,136 and $170, respectively. Depreciati on expense was $2,005 and $2,223 for the years ended December 31, 2017 and 2016, respectively.
c. | Goodwill and Other Intangible Assets
The Company performed its annual impairment tests of goodwill and other indefinite-lived intangible assets as of October 1, 2017. The Company changed the date of its annual impairment test in 2017 from December 31 to the first day of the fourth quarter. T he change was made for administrative purposes and did not materially impact the estimated fair values. The Company performed a quantitative impairment test of its four identified goodwill reporting units. The fair value for the reporting units could not be determined using readily available quoted Level 1 inputs or Level 2 inputs that were observable in active markets. Therefore, we used a discounted cash flow model to estimate the fair value of the reporting units, using Level 3 inputs. To estimate the fair value of the reporting units, we used significant estimates and judgments, including an assessment of our future revenue prospects, revenue growth rates and profit margins based on internal forecasts, industry and market based terminal growth rates, inputs to the weighted-average cost of capital used to discount future cash flows, and earnings multiples. The Company performed a quantitative impairment test of its four other indefinite-lived intangible assets (trademarks). The fair value of our tradem arks could not be determined using readily available quoted Level 1 inputs or Level 2 inputs that were observable in active markets. Therefore, we used a relief from royalty approach to estimate the fair value of our trademarks, using Level 3 inputs. Significant estimates and judgments included an assessment of our future revenue prospects, industry and market based terminal growth rates, inputs to the weighted-average cost of capital used to discount future cash flows, and royalty rates based on external market data. As a result of the impairment tests performed for 2017 and 2016, we determined that no impairments existed. Fair value exceeded carrying value for all reporting units and trademarks by more than 10%. There is a possibility that our goodwill and other intangible assets could be impaired in the future should there be a significant change in our internal forecasts and other assumptions used in our impairment analysis. The following table summarizes the goodwill activity by segment for the years ended December 31, 201 7 and 2016:
|  | Battery & Energy Products |  |  | Communi- cations Systems |  |  | Total |
Balance – January 1, 2016 |  | $ | 4,790 |  |  | $ | 11,493 |  |  | $ | 16,283 |
Acquisition of Accutronics |  |  | 4,487 |  |  |  | - |  |  |  | 4,487 |
Effect of Foreign Currency T ranslation |  |  | (805 | ) |  |  | - |  |  |  | (805 | )
Balance – December 31, 2016 |  |  | 8,472 |  |  |  | 11,493 |  |  |  | 19,965 |
Effect of Foreign Currency T ranslation |  |  | 493 |  |  |  | - |  |  |  | 493 |
Balance – December 31, 2017 |  | $ | 8,965 |  |  | $ | 11,493 |  |  | $ | 20,458 |
The composition of intangible assets was:
|  | December 31, 201 7 |
|  | Cost |  |  | Accumulated Amortization |  |  | Net |
Trademarks |  | $ | 3,411 |  |  | $ | - |  |  | $ | 3,411 |
Customer R elationships |  |  | 6,618 |  |  |  | 4,208 |  |  |  | 2,410 |
Patents and T echnology |  |  | 5,545 |  |  |  | 4,595 |  |  |  | 950 |
Distributor R elationships |  |  | 377 |  |  |  | 377 |  |  |  | - |
Trade Name |  |  | 393 |  |  |  | 79 |  |  |  | 314 |
Total Other Intangible A ssets |  | $ | 16,344 |  |  | $ | 9,259 |  |  | $ | 7,085 |
|  | December 31, 201 6 |
|  | Cost |  |  | Accumulated Amortization |  |  | Net |
Trademarks |  | $ | 3,404 |  |  | $ | - |  |  | $ | 3,404 |
Customer R elationships |  |  | 6,395 |  |  |  | 3,975 |  |  |  | 2,420 |
Patents and T echnology |  |  | 5,455 |  |  |  | 4,417 |  |  |  | 1,038 |
Distributor R elationships |  |  | 377 |  |  |  | 368 |  |  |  | 9 |
Trade Name |  |  | 359 |  |  |  | 36 |  |  |  | 323 |
Total Other Intangible A ssets |  | $ | 15,990 |  |  | $ | 8,796 |  |  | $ | 7,194 |
The change in the cost value of other intangible assets is a result of the effect of foreign currency translations. Amortization of other intangible assets was included in the following financial statement captions:
|  | Year ended December 31, |
|  | 201 7 |  |  | 201 6 |
Research and Development Expense |  | $ | 165 |  |  | $ | 200 |
Selling, General and Administrative E xpense |  |  | 257 |  |  |  | 303 |
Total |  | $ | 422 |  |  | $ | 503 |
Future amortization expense of amortizable intangible assets will be approximately $400, $379, $367, $348 and $334 for the fiscal years ending December 31, 2018 through 2022, respectively.

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