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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three and six months ended June 30, 2024 and 2023:

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
		(Amounts in thousands)								(Amounts in thousands)
Income (loss) before income taxes:
Domestic		$	615			$	(5,074	)		$	299			$	(2,994	)
Foreign			1,194				2,296				1,228				695
Income (loss) before income taxes		$	1,809			$	(2,778	)		$	1,527			$	(2,299	)

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three and six months ended June 30, 2024 and 2023:

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
		(Amounts in thousands)								(Amounts in thousands)
Current provision (benefit):
Federal		$	100			$	(894	)		$	(124	)		$	(183	)
State			26				(136	)			(13	)			34
Foreign			197				591				301				145
Total current provision (benefit)			323				(439	)			164				(4	)
Deferred provision (benefit):
Federal			73				(154	)			96				(402	)
State			14				(38	)			19				(98	)
Foreign			101				(2	)			18				60
Total deferred provision (benefit)			188				(194	)			133				(440	)
Change in valuation allowance			(93	)			28				—				57
Total provision (benefit) for income taxes		$	418			$	(605	)		$	297			$	(387	)

Reconciliation of Income Taxes

The reconciliation of income taxes computed using the statutory U.S. income tax rate and the provision (benefit) for income taxes for the three and six months ended June 30, 2024 and 2023 were as follows (amounts in thousands):

		Three Months Ended June 30, 2024								Three Months Ended June 30, 2023
Income taxes computed at the federal statutory rate		$	380				21.0	%		$	(583	)			(21.0	)%
State income taxes, net of federal tax benefit			(9	)			(0.5	)			(182	)			(6.5	)
Excess tax expense (benefit) from stock options/restricted shares			46				2.5				17				0.6
Worthless stock deduction			—				—				—				—
Difference in income tax rate on foreign earnings/other			94				5.2				115				4.1
Change in valuation allowance			(93	)			(5.1	)			28				1.0
		$	418				23.1	%		$	(605	)			(21.8	)%

		Six Months Ended June 30, 2024								Six Months Ended June 30, 2023
Income taxes computed at the federal statutory rate		$	321				21.0	%		$	(483	)			(21.0	)%
State income taxes, net of federal tax benefit			(19	)			(1.3	)			(72	)			(3.1	)
Excess tax expense (benefit) from stock options/restricted shares			131				8.6				40				1.7
Worthless stock deduction			(248	)			(16.2	)			—				—
Difference in income tax rate on foreign earnings/other			112				7.3				71				3.1
Change in valuation allowance			—				—				57				2.5
		$	297				19.4	%		$	(387	)			(16.8	)%

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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.

+ 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

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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.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
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