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Note 5 - Supplemental Balance Sheet Information | 9 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
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 September 30, 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:
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Raw materials |  | $ | 38,242 |  |  | $ | 36,035 |
Work in process |  | 3,568 |  |  |  | 4,501 |
Finished goods |  | 10,937 |  |  |  | 10,827 |
Total |  | $ | 52,747 |  |  | $ | 51,363 |
Property, Plant and Equipment, Net Major classes of property, plant and equipment consisted of the following:
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Land |  | $ | 4,693 |  |  | $ | 4,693 |
Buildings and leasehold improvements |  | 30,162 |  |  |  | 30,109 |
Machinery and equipment |  | 62,282 |  |  |  | 60,986 |
Furniture and fixtures |  | 3,129 |  |  |  | 3,067 |
Computer hardware and software |  | 8,161 |  |  |  | 7,990 |
Construction in process |  | 3,578 |  |  |  | 2,077 |
|  | 112,005 |  |  |  | 108,922 |
Less: Accumulated depreciation |  | (71,469) |  |  |  | (68,437 | )
Property, plant and equipment, net |  | $ | 40,536 |  |  | $ | 40,485 |
Depreciation expense for property, plant and equipment was as follows:
|  | Three-month period ended |  |  | Nine-month period ended |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Depreciation expense |  | $ | 1,008 |  |  | $ | 765 |  |  | $ | 2,966 |  |  | $ | 2,294 |
Goodwill The following table summarizes the goodwill activity by segment for the nine-month period ended September 30, 2025.
|  | Battery & Energy |  |  | Communications |  |  |  |  |
|  | Products |  |  | Systems |  |  | Total |
Balance – December 31, 2024 |  | $ | 33,513 |  |  | $ | 11,493 |  |  | $ | 45,006 |
Effect of foreign currency translation |  |  | 330 |  |  |  | - |  |  |  | 330 |
Balance – September 30, 2025 |  | $ | 33,843 |  |  | $ | 11,493 |  |  | $ | 45,336 |
Other Intangible Assets, Net The composition of other intangible assets was:
|  | at September 30, 2025 |
|  |  |  |  |  | Accumulated |  |  |  |  |
|  | Cost |  |  | Amortization |  |  | Net |
Customer relationships |  | $ | 18,330 |  |  | $ | 8,119 |  |  | $ | 10,211 |
Trade names |  |  | 9,968 |  |  |  | 1,187 |  |  |  | 8,781 |
Patents and technology |  |  | 5,761 |  |  |  | 5,598 |  |  |  | 163 |
Trademarks |  |  | 3,400 |  |  |  | - |  |  |  | 3,400 |
Other |  |  | 1,500 |  |  |  | 648 |  |  |  | 852 |
Total other intangible assets |  | $ | 38,959 |  |  | $ | 15,552 |  |  | $ | 23,407 |
|  | 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 September 30, 2025 is the effect of foreign currency translations. Amortization expense for other intangible assets was as follows:
|  | Three-month period ended |  |  | Nine-month period ended |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Amortization included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  | $ | 380 |  |  | $ | 204 |  |  | $ | 1,134 |  |  | $ | 609 |
Research and development |  |  | 31 |  |  |  | 25 |  |  |  | 92 |  |  |  | 75 |
Total amortization expense |  | $ | 411 |  |  | $ | 229 |  |  | $ | 1,226 |  |  | $ | 684 |

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