INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2018		2017		2016
Domestic	$	10,894	$	8,076	$	4,288
Foreign		9,787		8,060		8,515
Income before income taxes	$	20,681	$	16,136	$	12,803

Schedule of components of the total provision for income taxes

Components of the total provision for income taxes are as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2018		2017		2016
Current provision
Domestic	$	1,663	$	4,750	$	(70)
Foreign		3,169		2,566		2,025
Total current provision		4,832		7,316		1,955
Deferred provision
Domestic		675		925		1,438
Foreign		(751)		(141)		332
Total deferred provision		(76)		784		1,770
Provision for income taxes	$	4,756	$	8,100	$	3,725

Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate

	For the year ended
	December 31,		December 31,		December 31,
	2018		2017		2016
Tax provision, computed at statutory rate	21.0	%	35.0	%	34.0	%
State tax, net of federal impact	3.0	%	3.6	%	4.6	%
Change in valuation allowance	2.8	%	1.9	%	0.9	%
Effect of foreign tax rate differences	3.4	%	(4.2)	%	(6.5)	%
Permanent items, other	0.8	%	0.2	%	(0.4)	%
R&D Credit	(0.8)	%	(2.2)	%	(1.7)	%
Restricted Stock Awards	(2.3)	%	(2.6)	%	(2.7)	%
Effect of Tax Cuts and Jobs Act	(5.1)	%	19.4	%	0.0	%
Other	0.2	%	(0.9)	%	0.9	%
Provision for income taxes	23.0	%	50.2	%	29.1	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31,		December 31,
	2018		2017
Noncurrent deferred tax assets:
Employee benefit plans	$	1,983	$	1,896
Net operating loss and tax credit carryforwards		1,507		203
Allowances and other		983		640
Other		326		370
Total noncurrent deferred tax assets		4,799		3,109
Valuation allowance		(1,003)		(50)
Net noncurrent deferred tax assets:	$	3,796	$	3,059
Net noncurrent deferred tax liabilities:
Property and Equipment	$	3,708	$	3,001
Goodwill and Intangibles		3,188		3,398
Other		419		255
Total deferred tax liabilities	$	7,315	$	6,654
Net deferred tax asset/(deferred tax liability)	$	(3,519)	$	(3,595)