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Note 11 - Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Domestic |  | $ | 9,600 |  |  | $ | 9,575 |
Foreign |  |  | 1,448 |  |  |  | 570 |
Total |  | $ | 11,048 |  |  | $ | 10,145 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Current |  |  |  |  |  |  |  |
Domestic – Federal |  | $ | 2,139 |  |  | $ | 2,892 |
Domestic – state |  |  | 202 |  |  |  | 263 |
Foreign |  |  | 522 |  |  |  | 267 |
Total |  | $ | 2,863 |  |  | $ | 3,422 |
Deferred |  |  |  |  |  |  |  |
Domestic – Federal |  | $ | (1,052 | ) |  | $ | (1,344 | )
Domestic – state |  |  | 31 |  |  |  | (190 | )
Foreign |  |  | (136 | ) |  |  | (204 | )
Total |  |  | (1,157 | ) |  |  | (1,738 | )
Income tax expense |  | $ | 1,706 |  |  | $ | 1,684 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |  |  |
Capitalized research and development costs |  | $ | 2,320 |  |  | $ | 1,260 |
Operating lease liabilities |  |  | 859 |  |  |  | 1,125 |
Accrued vacation pay and stock-based compensation |  |  | 433 |  |  |  | 465 |
Inventories |  |  | 395 |  |  |  | 602 |
Intangible assets |  |  | 369 |  |  |  | 140 |
Net operating loss (state and foreign) |  |  | 245 |  |  |  | 285 |
Acquisition costs |  |  | 44 |  |  |  | 46 |
Allowance for doubtful accounts |  |  | 44 |  |  |  | 43 |
Accrued warranty |  |  | 26 |  |  |  | 54 |
Tax credit carryforwards |  |  | - |  |  |  | 89 |
Other |  |  | 62 |  |  |  | - |
Total |  |  | 4,797 |  |  |  | 4,109 |
Valuation allowance |  |  | (245 | ) |  |  | (227 | )
Deferred tax assets |  |  | 4,552 |  |  |  | 3,882 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (1,949 | ) |  |  | (2,101 | )
Right-of-use assets |  |  | (762 | ) |  |  | (996 | )
Depreciation of property and equipment |  |  | (404 | ) |  |  | (385 | )
Other |  |  | - |  |  |  | (120 | )
Deferred tax liabilities |  |  | (3,115 | ) |  |  | (3,602 | )
Net deferred tax assets |  | $ | 1,437 |  |  | $ | 280 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Expected income tax expense at U.S. statutory rate |  | $ | 2,320 |  |  | $ | 2,131 |
Increase (decrease) in tax from: |  |  |  |  |  |  |  |
Dividend from foreign subsidiaries |  |  | 184 |  |  |  | 127 |
NOL carryforwards utilized |  |  | 39 |  |  |  | (80 | )
Stock compensation |  |  | (329 | ) |  |  | 77 |
Global intangible low taxed income |  |  | 87 |  |  |  | 66 |
Nondeductible expenses |  |  | 21 |  |  |  | 11 |
Current year tax credits (foreign and research) |  |  | (367 | ) |  |  | (465 | )
Domestic tax benefit, net of Federal benefit |  |  | (167 | ) |  |  | 87 |
Changes in valuation allowance |  |  | 18 |  |  |  | 163 |
Foreign income tax rate differences |  |  | 109 |  |  |  | 147 |
Section 250 foreign derived intangible income deduction |  |  | (272 | ) |  |  | (563 | )
Other |  |  | 63 |  |  |  | (17 | )
Income tax expense |  | $ | 1,706 |  |  | $ | 1,684 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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