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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of (loss) income before income taxes and equity in losses are as follows:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Domestic			$	16,509					$	22,134					$	20,796
Foreign			(12,099)						(11,659)						(11,767)
Foreign - loss on equity securities			(14,152)						—						—
Total (loss) income before income taxes and equity in earnings			$	(9,742)					$	10,475					$	9,029

Provision for Income Taxes

The provision for income taxes (before equity in losses) consists of:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Current:
Federal			$	4,254					$	6,326					$	6,890
State and local			913						1,447						1,888
Foreign			203						579						775
Deferred			(2,039)						(2,130)						(3,825)
Income tax provision			$	3,331					$	6,222					$	5,728

Significant Components of Net Deferred Income Tax Asset (Liability)

Significant components of the Company’s deferred income tax assets and (liabilities) are as follows:

			December 31,
			2024						2023
			(in thousands)
Deferred income tax assets:
Operating lease liabilities			$	17,257					$	20,571
Stock options			819						1,454
Inventory			2,573						3,323
Operating loss carryforwards			23,262						21,036
Accounts receivable allowances			2,473						2,343
Accrued compensation			979						913
Deferred compensation			448						668
Environmental remediation accrual			1,331						1,379
Capitalized research and experimental expenditures			3,881						3,109
Section 163j interest carryforward			2,458						904
Other			1,971						1,536
Total deferred income tax assets			$	57,452					$	57,236
Deferred income tax liabilities:
Operating lease right-of-use assets			$	(14,243)					$	(17,060)
Fixed assets			(304)						(1,248)
Intangibles			(26,814)						(26,207)
Total deferred income tax liabilities			(41,361)						(44,515)
Net deferred income tax asset			16,091						12,721
Valuation allowance			(21,692)						(20,159)
Net deferred income tax liability			$	(5,601)					$	(7,438)

Difference between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Rates

The provision for income taxes (before equity in losses) differs from the amounts computed by applying the applicable federal statutory rates as follows:

			Year Ended December 31,
			2024						2023						2022
Federal income taxes at the statutory rate			21.0		%				21.0		%				21.0		%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit			(3.5)						5.7						13.9
Foreign rate differences			14.2						(19.7)						6.9
Foreign withholding tax			(1.7)						5.0						6.1
Non-deductible expenses			(5.7)						3.4						2.9
Non-deductible compensation			(6.7)						4.5						4.2
Loss on equity securities			(43.6)						—						—
Uncertain tax positions			7.7						(0.9)						1.2
Research and development credit			3.0						(2.5)						(5.4)
Federal return to provision			1.0						0.7						(3.4)
Equity-based compensation			(4.7)						5.0						0.1
Valuation Allowance			(15.2)						37.2						15.9
Provision for income taxes			(34.2)		%				59.4		%				63.4		%

Estimated Values of Gross Uncertain Tax Positions

The estimated values of the Company’s gross uncertain tax positions at December 31, 2024, 2023 and 2022 consist of the following:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Balance at January 1			$	(990)					$	(1,130)					$	(1,071)
Additions based on tax positions related to the current year			(27)						(27)						(79)
Reductions for tax position of prior years			560						167						20
Balance at December 31			$	(457)					$	(990)					$	(1,130)

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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.

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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.

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