Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Tax effects of temporary differences and carry-forwards

Deferred income taxes for 2015 and 2014 were provided for the temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities. Tax effects of temporary differences and carry-forwards at December 31, 2015 and 2014, were as follows:

	December 31, 2015					December 31, 2014
	Deferred Tax					Deferred Tax
	Asset			Liability		Asset			Liability
	(in thousands)
Inventory reserve	$	1,179		$	—	$	1,151		$	—
Fixed assets		—			230		—			285
Other reserves and accruals		173			—		109			—
Stock-based compensation		380			—		367			—
Undistributed foreign earnings		—			97		—			86
Other		—			68		1			75
Tax credit carry-forwards		1,840			—		1,755			—
Federal tax loss carry-forwards		3,270			—		3,220			—
State tax loss carry-forwards		915			—		901			—
Foreign tax loss carry-forwards		269			—		268			—
Total deferred income taxes		8,026		$	395		7,772		$	446
Valuation allowance		(7,631	)				(7,326	)
Net deferred tax assets	$	—				$	—

Provision (benefit) for income taxes

Income tax provision (benefit) for the years ended December 31, 2015 and 2014 is as follows:

	2015			2014
	(in thousands)
Current:
Federal	$	—		$	—
State and local		8			5
Foreign		—			(9	)
Total Current		8			(4	)

Deferred:
Federal		(292	)		(985	)
State and local		(12	)		(381	)
Foreign		(1	)		8
Total before change in valuation allowance		(305	)		(1,358	)
Change in Valuation Allowance		305			1,358
Net Deferred		—			—
	$	8		$	(4	)

Reconciliation of provision (benefit) for income taxes

A reconciliation of the provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to income before income taxes:

	2015			2014
	(in thousands)
Tax provision at expected statutory rate	$	(239	)	$	(962	)
State taxes, net of federal benefit		4			(57	)
Permanent differences		8			(5	)
Credits		(97	)		(56	)
Foreign tax expense, and other		27			(282	)
Change in valuation allowance		305			1,358
Provision (benefit) for income taxes	$	8		$	(4	)