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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of income (loss) before income taxes are as follows:

		January 31
		2020				2019				2018
(In thousands)
Domestic		$	1,930			$	6,859			$	2,110
Foreign			(560	)			449				3,047
		$	1,370			$	7,308			$	5,157

Components of Provision for Income Taxes

The components of the (benefit) provision for income taxes are as follows:

		January 31
		2020				2019				2018
(In thousands)
Current:
Federal		$	660			$	1,807			$	592
State			221				457				251
Foreign			368				952				284
			1,249				3,216				1,127
Deferred:
Federal		$	(1,364	)		$	(843	)		$	903
State			(282	)			(170	)			(25	)
Foreign			8				(625	)			(134	)
			(1,638	)			(1,638	)			744
		$	(389	)		$	1,578			$	1,871

Reconciliation of The Provision For Income Taxes With The Amount Computed By Applying The Statutory Federal Income Tax Rate To The Income Before Income Tax Provision

Total income tax (benefit)/provision differs from the expected tax (benefit)/provision as a result of the following:

		January 31
		2020				2019				2018
(In thousands)
Income Tax Provision at Statutory Rate		$	288			$	1,534			$	1,697
U.S. Corporate Rate Change			—				52				1,010
State Taxes, Net of Federal Tax Effect			(48	)			226				149
Foreign Rate Deferential			315				558				752
Transition Tax on Repatriated Earnings			—				14				104
Meals and Entertainment			31				56				40
Share Based Compensation			(145	)			(127	)			24
Change in Valuation Allowance			256				—				—
Change in Reserves Related to ASC 740 Liability			(352	)			(34	)			(20	)
Domestic Production Deduction			—				—				(47	)
Return to Provision Adjustment			(207	)			58				(122	)
TrojanLabel Earn Out Liability Adjustment			—				—				(316	)
Global Intangible Low Taxed Income			107				—				—
R&D Credits			(209	)			(218	)			(537	)
Foreign Derived Intangible Income			(107	)			(53	)			—
Foreign Tax Credits			(344	)			(477	)			(833	)
Other			26				(11	)			(30	)
		$	(389	)		$	1,578			$	1,871

Tax Effects of Temporary Differences that gave Rise to Significant Portions of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities are as follows:

		January 31
		2020				2019
(In thousands)
Deferred Tax Assets:
Inventory		$	2,094			$	1,800
Honeywell Royalty Liability			2,583				3,146
State R&D Credits			1,496				1,305
Share-Based Compensation			582				493
Compensation Accrual			159				155
Warranty Reserve			205				201
Unrecognized State Tax Benefits			116				133
Deferred Service Contract Revenue			111				91
Bad Debt			165				101
Net Operating Loss			443				505
Foreign Tax Credit			113				—
Other			295				142
			8,362				8,072
Deferred Tax Liabilities:
Intangibles			776				2,660
Accumulated Tax Depreciation in Excess of Book Depreciation			1,002				982
Other			188				238
			1,966				3,880
Subtotal			6,396				4,192
Valuation Allowance			(1,752	)			(1,304	)
Net Deferred Tax Assets		$	4,644			$	2,888

Changes in Balance of Unrecognized Tax Benefits, Excluding Interest and Penalties

The changes in the balances of unrecognized tax benefits, excluding interest and penalties are as follows:

		2020				2019				2018
(In thousands)
Balance at February 1		$	618			$	665			$	708
Increases in current period tax positions			2				7				55
Reductions related to lapse of statutes of limitations			(26	)			(54	)			(98	)
Reductions related to settlement with tax authorities			(232	)			—				—
Balance at January 31		$	362			$	618			$	665

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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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