Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes

Income Tax Disclosure [Text Block]

Note 9 – Income Taxes

Deferred tax assets (liabilities) consist of the following temporary differences:

	December 31,
	2011							2010
	Current			Long-term				Current			Long-term
Inventory write-downs and differences due to UNICAP		$	76		$	-			$	69		$	-
Allowance for doubtful accounts			22			-				17			-
Accrued liabilities and reserves			127			-				99			-
Other - foreign			108			(75	)			-			(81	)
Depreciation and amortization			-			(9,285	)			-			(674	)
Unrealized investment gains			-			123				-			121
Deferred income taxes, net		$	333		$	(9,237	)		$	185		$	(634	)

The components of income tax expense are as follows:

	Years ended December 31,
	2011			2010		2009
Current	$	4,287		$	3,022	$	3,087
Deferred		(621	)		4		235
Total	$	3,666		$	3,026	$	3,322

Income tax expense differed from amounts computed by applying the statutory federal rate to pretax income as follows:

	Years ended December 31,
	2011			2010			2009
Federal income tax expense at the statutory rate	$	2,650		$	2,914		$	3,128
State income taxes		257			283			304
Foreign income taxes (blended rate)		877			74			46
ETI, manufacturing deduction and tax credits		(270	)		(275	)		(193	)
Other		152			30			37
Total	$	3,666		$	3,026		$	3,322

The domestic and foreign components of income before income tax expense were as follows:

	Years ended December 31,
	2011		2010		2009
Domestic	$	7,795	$	8,571	$	9,200
Foreign		3,285		469		380
Total	$	11,080	$	9,041	$	9,580