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Note 5 - Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2025

Supplemental Balance Sheet Disclosures [Text Block]

5.	*SUPPLEMENTAL BALANCE SHEET INFORMATION*

Fair Value Measurements and Disclosures

The fair value of financial instruments approximated their carrying values at March 31, 2025 and December 31, 2024. The fair value of cash, accounts receivable, accounts payable, accrued liabilities, and the current portion of long-term debt approximates carrying value due to the short-term nature of these instruments.

Inventories, Net

Inventories are stated at the lower of cost or net realizable value, net of obsolescence reserves, with cost determined under the first-in, first-out (FIFO) method. The composition of inventories, net was:

	March 31,		December 31,
	2025		2024
Raw materials	$	34,173	$	36,035
Work in process		5,190		4,501
Finished goods		8,490		10,827
Total	$	47,853	$	51,363

Property, Plant and Equipment, Net

Major classes of property, plant and equipment consisted of the following:

	March 31,			December 31,
	2025			2024
Land	$	1,273		$	4,693
Buildings and leasehold improvements		33,534			30,109
Machinery and equipment		61,533			60,986
Furniture and fixtures		3,073			3,067
Computer hardware and software		8,052			7,990
Construction in process		2,244			2,077
		109,709			108,922
Less: Accumulated depreciation		(69,432	)		(68,437	)
Property, plant and equipment, net	$	40,277		$	40,485

Depreciation expense for property, plant and equipment was $950 and $740 for the three-month periods ended March 31, 2025 and March 31, 2024, respectively.

Goodwill

The following table summarizes the goodwill activity by segment for the three-month period ended March 31, 2025.

	Battery & Energy		Communications
	Products		Systems		Total
Balance – December 31, 2024	$	33,513	$	11,493	$	45,006
Effect of foreign currency translation		135		-		135
Balance – March 31, 2025	$	33,648	$	11,493	$	45,141

Other Intangible Assets, Net

The composition of other intangible assets was:

	at March 31, 2025
			Accumulated
	Cost		Amortization		Net
Customer relationships	$	18,231	$	7,580	$	10,651
Trade names		9,954		940		9,014
Patents and technology		5,722		5,491		231
Trademarks		3,399		-		3,399
Other		1,500		610		890
Total other intangible assets	$	38,806	$	14,621	$	24,185

	at December 31, 2024
			Accumulated
	Cost		Amortization		Net
Customer relationships	$	18,154	$	7,296	$	10,858
Trade names		9,942		813		9,129
Patents and technology		5,690		5,428		262
Trademarks		3,399		-		3,399
Other		1,500		591		909
Total other intangible assets	$	38,685	$	14,128	$	24,557

The change in the cost of total intangible assets from December 31, 2024 to March 31, 2025 is the effect of foreign currency translations.

Amortization of other intangible assets was included in the following financial statement captions:

	Three-month period ended
	March 31, 2025		March 31, 2024
Selling, general and administrative expense	$	376	$	203
Research and development expense		29		25
Total	$	405	$	228