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Note 5 - Supplemental Balance Sheet Information | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Supplemental Balance Sheet Disclosures [Text Block] | Note 5 - Supplemental Balance Sheet Information a. Cash and Restricted Cash The Company had cash and restricted cash totaling $10,653 and $7,405 as of December 31, 2020 and 2019, respectively.
|  | December 31, |
|  | 2020 |  |  | 2019 |
Cash |  | $ | 10,562 |  |  | $ | 7,135 |
Restricted cash |  |  | 91 |  |  |  | 270 |
Total |  | $ | 10,653 |  |  | $ | 7,405 |
As of December 31, 2020 and December 31, 2019, restricted cash included $91 and $82, respectively, of euro-denominated deposits withheld by the Dutch tax authorities and third-party VAT representatives in connection with a previously utilized logistics arrangement in the Netherlands. As of December 31, 2019, restricted cash included $188 for a government grant awarded in the People’s Republic of China to fund specified technological research and development initiatives. The grant proceeds are realized as a direct offset to qualifying expenditures as incurred. For the year ended December 31, 2020, grant proceeds of approximately $188 were used to fund qualifying capital expenditures and material and labor costs incurred. Restricted cash is included as a component of the cash balance for purposes of the consolidated statements of cash flows. b. Inventory, Net 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, |
|  | 2020 |  |  | 2019 |
Raw materials |  | $ | 17,277 |  |  | $ | 18,485 |
Work in process |  |  | 3,411 |  |  |  | 2,548 |
Finished products |  |  | 7,505 |  |  |  | 8,726 |
Total |  | $ | 28,193 |  |  | $ | 29,759 |
c. Property, Plant and Equipment Major classes of property, plant and equipment consisted of the following:
|  | December 31, |
|  | 2020 |  |  | 2019 |
Land |  | $ | 1,273 |  |  | $ | 1,273 |
Buildings and leasehold improvements |  |  | 15,393 |  |  |  | 15,386 |
Machinery and equipment |  |  | 61,048 |  |  |  | 55,058 |
Furniture and fixtures |  |  | 2,235 |  |  |  | 2,194 |
Computer hardware and software |  |  | 6,894 |  |  |  | 6,712 |
Construction in progress |  |  | 1,227 |  |  |  | 4,730 |
|  |  | 88,070 |  |  |  | 85,353 |
Less – Accumulated depreciation |  |  | (65,220 | ) |  |  | (62,828 | )
Total |  | $ | 22,850 |  |  | $ | 22,525 |
Depreciation expense was $2,340 and $2,220 for the years ended December 31, 2020 and 2019, respectively. d. Goodwill and Other Intangible Assets The Company conducted its annual impairment test for goodwill and other indefinite-lived intangible assets as of October 1, 2020. We identified five goodwill reporting units and four indefinite-lived intangible assets. We performed a quantitative impairment assessment of each goodwill reporting unit and indefinite-lived intangible asset. Based on the results of our quantitative impairment tests, and consideration of qualitative factors as of our test date and December 31, 2020, no impairments were identified. The following table summarizes the goodwill activity by segment for the years ended December 31, 2020 and 2019:
|  | Battery & Energy Products |  |  | Communications Systems |  |  | Total |
Balance – January 1, 2019 |  | $ | 8,616 |  |  | $ | 11,493 |  |  | $ | 20,109 |
Acquisition of SWE |  |  | 6,534 |  |  |  | - |  |  |  | 6,534 |
Effect of foreign currency translation |  |  | 110 |  |  |  | - |  |  |  | 110 |
Balance – December 31, 2019 |  |  | 15,260 |  |  |  | 11,493 |  |  |  | 26,753 |
Effect of foreign currency translation |  |  | 265 |  |  |  | - |  |  |  | 265 |
Balance – December 31, 2020 |  | $ | 15,525 |  |  | $ | 11,493 |  |  | $ | 27,018 |
The composition of intangible assets was:
|  | December 31, 2020, |
|  | Cost |  |  | Accumulated amortization |  |  | Net |
Trademarks |  | $ | 3,410 |  |  | $ | - |  |  | $ | 3,410 |
Customer relationships |  |  | 9,171 |  |  |  | 5,115 |  |  |  | 4,056 |
Patents and technology |  |  | 5,557 |  |  |  | 5,014 |  |  |  | 543 |
Distributor relationships |  |  | 377 |  |  |  | 377 |  |  |  | 0 |
Trade name |  |  | 1,524 |  |  |  | 324 |  |  |  | 1,200 |
Total other intangible assets |  | $ | 20,039 |  |  | $ | 10,830 |  |  | $ | 9,209 |
|  | December 31, 2019, |
|  | Cost |  |  | Accumulated amortization |  |  | Net |
Trademarks |  | $ | 3,403 |  |  | $ | - |  |  | $ | 3,403 |
Customer relationships |  |  | 9,080 |  |  |  | 4,721 |  |  |  | 4,359 |
Patents and technology |  |  | 5,521 |  |  |  | 4,869 |  |  |  | 652 |
Distributor relationships |  |  | 377 |  |  |  | 377 |  |  |  | - |
Trade name |  |  | 1,511 |  |  |  | 204 |  |  |  | 1,307 |
Total other intangible assets |  | $ | 19,892 |  |  | $ | 10,171 |  |  | $ | 9,721 |
The change in the cost value of other intangible assets is a result of foreign currency translation effects. Amortization of other intangible assets was included in the following financial statement captions:
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |
Research and development expense |  | $ | 124 |  |  | $ | 130 |
Selling, general and administrative expense |  |  | 471 |  |  |  | 395 |
Total |  | $ | 595 |  |  | $ | 525 |
Future amortization expense of amortizable intangible assets will be approximately $352, $337, $334, $324 and $324 for the five fiscal years ending December 31, 2021 through 2025, respectively.

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