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Income Taxes (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Amounts in thousands) |  |  | (Amounts in thousands) |
Income (loss) before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 1,748 |  |  | $ | (211 | ) |  | $ | 2,047 |  |  | $ | (3,205 | )
Foreign |  |  | 824 |  |  |  | 365 |  |  |  | 2,052 |  |  |  | 1,060 |
Income (loss) before income taxes |  | $ | 2,572 |  |  | $ | 154 |  |  | $ | 4,099 |  |  | $ | (2,145 | )
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 nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Amounts in thousands) |  |  | (Amounts in thousands) |
Current provision (benefit): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 351 |  |  | $ | (88 | ) |  | $ | 227 |  |  | $ | (271 | )
State |  |  | 77 |  |  |  | (9 | ) |  |  | 64 |  |  |  | 25 |
Foreign |  |  | 216 |  |  |  | 93 |  |  |  | 517 |  |  |  | 238 |
Total current provision (benefit) |  | $ | 644 |  |  | $ | (4 | ) |  | $ | 808 |  |  | $ | (8 | )
Deferred provision (benefit): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 44 |  |  |  | 25 |  |  |  | 140 |  |  |  | (377 | )
State |  |  | 8 |  |  |  | 7 |  |  |  | 27 |  |  |  | (91 | )
Foreign |  |  | 1 |  |  |  | 4 |  |  |  | 19 |  |  |  | 64 |
Total deferred provision (benefit) |  |  | 53 |  |  |  | 36 |  |  |  | 186 |  |  |  | (404 | )
Change in valuation allowance |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | 54 |
Total provision (benefit) for income taxes |  | $ | 697 |  |  | $ | 29 |  |  | $ | 994 |  |  | $ | (358 | )
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 nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands):
|  | Three Months Ended September 30, 2024 |  |  | Three Months Ended September 30, 2023 |
Income taxes computed at the federal statutory rate |  | $ | 540 |  |  |  | 21.0 | % |  | $ | 33 |  |  |  | 21.0 | %
State income taxes, net of federal tax benefit |  |  | 120 |  |  |  | 4.6 |  |  |  | (2 | ) |  |  | (1.2 | )
Excess tax expense (benefit) from stock options/restricted shares |  |  | 25 |  |  |  | 1.0 |  |  |  | — |  |  |  | — |
Worthless stock deduction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Difference in income tax rate on foreign earnings/other |  |  | 12 |  |  |  | 0.5 |  |  |  | 1 |  |  |  | 0.9 |
Change in valuation allowance |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | (1.9 | )
|  | $ | 697 |  |  |  | 27.1 | % |  | $ | 29 |  |  |  | 18.8 | %
|  | Nine Months Ended September 30, 2024 |  |  | Nine Months Ended September 30, 2023 |
Income taxes computed at the federal statutory rate |  | $ | 861 |  |  |  | 21.0 | % |  | $ | (450 | ) |  |  | (21.0 | )%
State income taxes, net of federal tax benefit |  |  | 101 |  |  |  | 2.5 |  |  |  | (74 | ) |  |  | (3.5 | )
Excess tax expense (benefit) from stock options/restricted shares |  |  | 156 |  |  |  | 3.8 |  |  |  | 40 |  |  |  | 1.9 |
Worthless stock deduction |  |  | (248 | ) |  |  | (6.1 | ) |  |  | — |  |  |  | — |
Difference in income tax rate on foreign earnings/other |  |  | 124 |  |  |  | 3.0 |  |  |  | 72 |  |  |  | 3.4 |
Change in valuation allowance |  |  | — |  |  |  | — |  |  |  | 54 |  |  |  | 2.5 |
|  | $ | 994 |  |  |  | 24.2 | % |  | $ | (358 | ) |  |  | (16.7 | )%

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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