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Note 8 - Income Taxes | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | 8 INCOME TAXES The provision for (benefit from) income taxes consists of the following:
Years ended December 31, |  | 2014 |  |  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (8,646,000 | ) |  | $ | 3,524,000 |  |  | $ | 5,503,000 |
Prior year over accrual |  |  | 44,000 |  |  |  | --- |  |  |  | --- |
State |  |  | 6,000 |  |  |  | --- |  |  |  | --- |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (3,877,000 | ) |  |  | (107,000 | ) |  |  | 11,000 |
|  | $ | (12,473,000 | ) |  | $ | 3,417,000 |  |  | $ | 5,514,000 |
The difference between the income tax provision computed at the federal statutory rate and the actual tax provision is accounted for as follows:
December 31, |  | 2014 |  |  | 2013 |  |  | 2012 |
Taxes computed at the federal statutory rate |  | $ | (12,812,000 | ) |  | $ | 3,792,000 |  |  | $ | 5,701,000 |
State income tax, net |  |  | 4,000 |  |  |  | -- |  |  |  | --- |
Prior year true-up |  |  | 44,000 |  |  |  | 190,000 |  |  |  | 47,000 |
Research and development tax credit |  |  | (140,000 | ) |  |  | --- |  |  |  | --- |
Reduction in domestic production activity |  |  | 893,000 |  |  |  | --- |  |  |  | --- |
AMT credit carryforward |  |  | (584,000 | ) |  |  | --- |  |  |  | --- |
Permanent differences |  |  | 122,000 |  |  |  | (565,000 | ) |  |  | (234,000 | )
Provision for (benefit from) income taxes |  | $ | (12,473,000 | ) |  | $ | 3,417,000 |  |  | $ | 5,514,000 |
The components of deferred income tax assets and liabilities are as follows:
Deferred Tax Assets: |  | 2014 |  |  | 2013 |
Revenue recognition |  | $ | 560,000 |  |  | $ | 408,000 |
Interest rate swap |  |  | 5,000 |  |  |  | --- |
Allowance for doubtful accounts |  |  | 9,000 |  |  |  | 9,000 |
Credit carryforwards |  |  | 1,134,000 |  |  |  | --- |
Deferred tax asset-current |  |  | 1,708,000 |  |  |  | 417,000 |
Deferred rent |  |  | 197,000 |  |  |  | 191,000 |
Stock options |  |  | 827,000 |  |  |  | 931,000 |
Interest rate swap |  |  | --- |  |  |  | 11,000 |
Net operating loss carryforward |  |  | 2,567,000 |  |  |  | --- |
Deferred Tax Assets-non current |  |  | 3,591,000 |  |  |  | 1,133,000 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Prepaid expenses |  |  | 128,000 |  |  |  | 89,000 |
Deferred Tax Liabilities-current |  |  | 128,000 |  |  |  | 89,000 |
Property and equipment |  |  | 622,000 |  |  |  | 788,000 |
Deferred tax liability-noncurrent |  |  | 622,000 |  |  |  | 788,000 |
Net Deferred Tax Assets (Liabilities) |  | $ | 4,549,000 |  |  | $ | 673,000 |
The Company recognized, for income tax purposes, a tax benefit of $513,000, $266,000 and $528,000 for the years ended December 31, 2014, 2013 and 2012, respectively, for compensation expense related to its stock option plan for which no corresponding charge to operations has been recorded. Such amounts have been added to additional paid-in capital in those years. Because of the change in estimate on the Company’s A-10 program, described above, the Company incurred a net loss for the year ended December 31, 2014. This net loss, after adjustment for carrying back tax losses to recover previously paid taxes, results in a net operating loss carryforward at December 31, 2014 of approximately $7,600,000 which will expire in 2029.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: 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)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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