Note 16 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Years ended December 31,
	2019			2018			2017
Income before income taxes
Domestic	$	38,299		$	26,227		$	48,446
Foreign		(2,178	)		(3,020	)		(2,244	)
	$	36,121		$	23,207		$	46,202

	Years ended December 31,
	2019			2018			2017
Provision for (benefit from) income taxes:
Current:
Federal	$	6,245		$	4,783		$	12,608
State		1,884			1,644			2,737
Foreign		202			405			31
Total current		8,331			6,832			15,376
Deferred:
Federal		1,086			(992	)		(426	)
State		324			(152	)		(68	)
Foreign		(813	)		(1,203	)		(496	)
Total deferred		597			(2,347	)		(990	)
Total provision	$	8,928		$	4,485		$	14,386

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2019		2018
Deferred tax assets:
Net operating loss carry forward, foreign	$	1,812	$	1,382
Stock-based compensation expense		1,901		3,148
Foreign currency exchange		346		363
Accrued expenses and other		1,076		818
Inventory reserve		1,187		1,500
Lease liability		5,206		–
Deferred tax assets	$	11,528	$	7,211

	December 31,
	2019			2018
Deferred tax liabilities:
Acquisition-related Intangibles	$	(2,023	)	$	(2,405	)
Depreciation		(8,665	)		(8,348	)
Right of use asset		(5,171	)		–
Deferred tax liabilities	$	(15,859	)	$	(10,753	)
Net deferred tax liabilities	$	(4,331	)	$	(3,542	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years ended December 31,
	2019			2018			2017
Statutory federal income tax rate		21.0	%		21.0	%		35.0	%
State tax expense, net of federal benefit		5.5	%		5.5	%		4.8	%
Impact of rate change on deferred taxes		0.0	%		0.0	%		(4.9	%)
Permanent items, including nondeductible expenses		(0.1	%)		(1.4	%)		0.1	%
State investment tax credit		(0.1	%)		(0.2	%)		(0.7	%)
Federal, state and foreign research and development credits		(1.4	%)		(3.4	%)		(1.4	%)
Foreign rate differential		(0.2	%)		(0.4	%)		0.5	%
Domestic production deduction		0.0	%		0.0	%		(2.8	%)
Stock compensation		0.6	%		(4.8	%)		(0.2	%)
Non-deductible Section 162(m) compensation limitation		0.3	%		4.3	%		0.7	%
Foreign derived intangible income deduction		(0.9	%)		(1.3	%)		0.0	%
Effective income tax rate		24.7	%		19.3	%		31.1	%