Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income From Continuing Operations before Provision for Income Taxes

The Company’s income before provision for income taxes was generated from the U.S. and foreign operations for the years ended December 31, as follows (in thousands):

	2014			2013
Earnings (loss) before income taxes:
U.S.	$	(2,298	)	$	(2,040	)
Foreign		3,559			1,760
Earnings (loss) before income taxes	$	1,261		$	(280	)

Schedule of Provision for Income Taxes

The Company’s provision for income taxes consisted of the following for the years ended December 31 (in thousands):

	2014			2013
Current:
Federal	$	-		$	-
State		(10	)		-
Foreign		371			172
Total current		361			172
Deferred:
Federal		-			-
State		-			-
Foreign		23			(60	)
Total deferred		23			(60	)
Total provision for income taxes	$	384		$	112

Schedule of Income Tax Expense Differed From Amount Obtained By Applying Statutory Federal Income Tax Rate to Income before Income

Income tax expense differed from the amount obtained by applying the statutory federal income tax rate of 34% to income before income taxes as follows for the years ended December 31 (in thousands):

	2014			2013
Federal income tax at statutory rates	$	429		$	(121	)
State income taxes, net of federal benefit		(10	)		-
Foreign income taxes		(836	)		(461	)
Changes in valuation allowances		666			521
Foreign income inclusion - IRC 956		134			165
Permanent differences		1			8
	$	384		$	112

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows as of December 31 (in thousands):

	2014			2013
Current deferred tax assets:
Allowance for doubtful accounts	$	1		$	5
Inventory reserves and uniform capitalization		321			982
Other accrued liabilities		62			91
		384			1,078
Valuation allowance-current deferred tax assets		(354	)		(1,032	)
Total current deferred tax assets		30			46
Long-term deferred tax assets:
Depreciation on property, plant & equipment		25			26
Non-qualified stock option expense		13			13
Deferred compensation		-			240
Deferred income		3			3
Tax credits		55			55
Net operating loss carry-forwards		6,715			6,900
Other, net		-			448
		6,811			7,685
Valuation allowance-long-term deferred tax assets		(6,786	)		(7,632	)
Total long-term deferred tax assets		25			53
Deferred tax liabilities:
Intangible assets other than goodwill		-			(17	)
Total deferred tax assets (long-term)		25			36
Net deferred tax assets	$	55		$	82