Note 7 - Other Comprehensive Income

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 7 - Other Comprehensive Income

In the three months ended September 30, 2021 and 2020, the Company incurred other comprehensive income (loss) of approximately $(343,000) and $5,000, respectively, from foreign currency translation adjustments.  In the nine months ended September 30, 2021 and 2020, the Company incurred other comprehensive loss of approximately $(388,000) and $(1,292,000), respectively, from foreign currency translation adjustments.  The main contributing factor for the large other comprehensive loss in the nine months ended September 30, 2020 was the sudden 25% decline in the valuation of the Mexican peso related to the COVID-19 pandemic and the resulting large-scale, rapid impacts to the world economy.