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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Components of income (loss) before income taxes

The components of income (loss) before income taxes for the years ended December 31, 2013 and 2012 were as follows:

	2013				2012
	(in thousands)
United States	$	2,240			$	(72	)
Foreign		3,024				3,088
	$	5,264			$	3,016

Components of provision (benefit) for income taxes by taxing authority

The components of the provision (benefit) for income taxes by taxing authority for the years ended December 31, 2013 and 2012 were as follows:

	2013				2012
	(in thousands)
Current provision:
Federal	$	—			$	—
Foreign		—				101
States		141				—
Total current provision		141				101
Deferred provision (benefit):
Federal		536				671
Foreign		—				(101	)
States		36				36
Total deferred provision (benefit):		572				606
	$	713			$	707

Components of deferred federal income taxes

Significant components of the Company’s deferred federal income taxes were as follows:

	At December 31,
	2013								2012
	Current				Non-Current				Current				Non-Current
	(in thousands)								(in thousands)
Deferred tax assets:
Accrued liabilities	$	413			$	—			$	159			$	—
Deferred compensation		—				686				—				363
Allowance for doubtful accounts		120				—				101				—
Inventory		270				—				388				—
Long-term contracts		149				—				80				—
Net operating loss		—				2,909				—				4,205
Intangible assets		—				86				—				111
Foreign tax credit carry forward		—				1,153				—				1,017
Valuation allowance		—				(5,385	)			(728	)			(5,750	)
Deferred tax assets		952				(551	)			—				(54	)
Deferred tax liabilities:
Equity in foreign investments		—				(3,233	)			—				(2,756	)
Property and equipment		—				(147	)			—				61
Intangible assets		—				(9	)			—				(9	)
Translation gain		—				(553	)			—				(411	)
Deferred tax liabilities		—				(3,942	)			—				(3,115	)
Net deferred tax assets (liabilities)	$	952			$	(4,493	)		$	—			$	(3,169	)

Summary of difference between effective income tax rate determined by applying statutory income tax rate

The difference between the effective income tax rate reflected in the provision for income taxes and the amounts, which would be determined by applying the statutory income tax rate of 34%, is summarized as follows:

	2013				2012
	(in thousands)
(Provision for) benefit from U.S federal statutory rate	$	(1,798	)		$	(1,032	)
Effect of state income taxes		(141	)			(49	)
Non-deductible business meals and entertainment expenses		(18	)			(95	)
Foreign income taxes included in equity in earnings		551				—
Adjustment of net operating loss carry forwards based on IRS audit, accrual to return adjustments and other		(153	)			—
Change in valuation allowance		846				469
Total (Expense)	$	(713	)		$	(707	)

X

- 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/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

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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/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h)(1)(i))

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