INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

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

	Years Ended December 31,
	2023		2022		2021
Domestic	$	79,785	$	59,736	$	9,897
Foreign	7,146		6,165		9,285
Total income before taxes	$	86,931	$	65,901	$	19,182

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following (in thousands):

	Years Ended December 31,
	2023		2022		2021
Current -
Federal	$	22,514	$	18,591	$	(5,243)
State	2,620		4,501		(522)
Foreign	2,044		2,248		3,056
Total current	27,178		25,340		(2,709)
Deferred -
Federal	(7,679)		(5,875)		5,016
State	(1,133)		(1,083)		1,810
Foreign	(247)		(583)		(686)
Total deferred	(9,059)		(7,541)		6,140
Total current and deferred taxes	$	18,119	$	17,799	$	3,431

Schedule of Differences Between Income Taxes Computed at Statutory Income Tax Rate and Provision For Income Taxes

The difference between income taxes computed at the statutory income tax rate and the provision for income taxes is as follows (in thousands):

	Years Ended December 31,
	2023		2022		2021
Income taxes computed at federal statutory rate	$	18,255	$	13,839	$	4,028
State income taxes, net of federal benefit	1,669		2,701		1,017
Foreign taxes	144		122		186
Nondeductible expenses	2,670		1,158		353
Enacted rate changes	(58)		240		318
Research and development tax credit	(4,811)		(250)		(1,036)
Valuation allowance	274		(1)		1
Tax reform deferred tax remeasurement	—		—		(2,587)
Uncertain tax positions	(33)		271		871
Other	9		(281)		280
Total income tax expense	$	18,119	$	17,799	$	3,431

Deferred tax liabilities and assets were comprised of the following (in thousands):

Schedule of Deferred Tax Liabilities and Assets

	December 31,
	2023			2022
Deferred tax assets:
Allowance for doubtful accounts	$	879		$	1,570
Inventory	3,371			4,585
Texas research and development tax credit carryforward	2,239			2,329
Louisiana research and development tax credit carryforward	10			10
Foreign tax credit carryforward	64			64
Net operating loss carryforward	1,328			1,201
Capital loss carryforward	4			4
Accruals	8,190			6,190
ROU asset	220			219
Research expenses	23,822			16,945
Total deferred tax assets	40,127			33,117
Less valuation allowance	(278)			(4)
Total deferred tax asset, net of valuation allowance	39,849			33,113
Deferred tax liabilities:
Goodwill	(18,476)			(18,439)
Intangibles	(8,363)			(9,553)
Property and equipment	(7,885)			(8,542)
Deferred compensation	(215)			—
Unremitted foreign earnings	(421)			(421)
Method changes	(342)			(225)
Other	(643)			(825)
Total deferred tax liability	$	(36,345)		$	(38,005)
Net deferred tax asset (liability)	$	3,504	3504000	$	(4,892)

Schedule of Changes in Valuation Allowance for Deferred Tax Assets

The following summarizes changes in the balance of valuation allowances on deferred tax assets (in thousands):

	2023		2022		2021
Balance at January 1	$	(4)	$	(4)	$	(12,813)
Changes due to state operating loss and foreign capital loss carryforwards	(274)		—		12,809
Balance at December 31	$	(278)	$	(4)	$	(4)

Schedule of Tax Carryforwards

Expected tax benefit on carryforwards available for use on future income tax returns, prior to valuation allowance, at December 31, 2023, are as follows (in thousands):

	Domestic		Foreign		Expiration
Net operating loss - foreign	$	—	$	491	2034-2042
Net operating loss - federal	562		—		2036-2042
Net operating loss - state	338		—		Indefinite
Capital loss carryforward - foreign	—		4		Indefinite
Foreign tax credits	64		—		2023,2025
Texas research and development tax credits	2,239		—		2037-2042
Louisiana research and development tax credits	$	10	$	—	2024-2026

Schedule of Changes in Unrecognized Tax Benefits

Changes in the balance of unrecognized tax benefits excluding interest and penalties on uncertain tax positions are as follows (in thousands):

	Assets (Liabilities)
	2023		2022		2021
Balance at January 1,	$	(5,918)	$	(6,316)	$	(5,057)
Increases related to prior year tax positions	—		—		(687)
Decreases related to prior year tax positions	1,475		614		—
Increases related to current year tax positions	(1,312)		(216)		(572)
Balance at December 31,	$	(5,755)	$	(5,918)	$	(6,316)