Note 4 - Derivative Financial Instruments

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

4. Derivative Financial Instruments

Beginning in

May 2015

and through

2016,

the Company has purchased Swiss Francs and enters into a series of forward foreign currency contracts to mitigate its exposure to fluctuations in the U.S. dollar value of forecasted transactions denominated in Swiss Franc. The latter are considered derivative financial instruments that the Company records on the consolidated balance sheet at fair value. The Company elected

not

to apply hedge accounting to these instruments. As a result, during the

six

months ended

June 30, 2016,

the Company experienced unrealized gains and (losses) within other income (expense), net, in the consolidated statements of operations from the mark-to-market of outstanding forward foreign currency contracts. As of

December 31, 2016,

all forward foreign currency contracts had been settled and are

no

longer outstanding.