Income taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income taxes

Schedule of Components of Income Tax Expense (Benefit)

The following summarizes the (benefit) / provision for income taxes:

Years Ended December 31,	2019		2018
(in thousands)
Current:
Federal	$	(124)	$	(507)
State and local		31		(167)
		(93)		(674)
Deferred:
Federal		366		(693)
State and local		383		(337)
		749		(1,030)
(Benefit) expense for income taxes	$	656	$	(1,704)

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the Company’s actual tax rate to the U.S. Federal statutory rate is as follows:

Years ended December 31,	2019		2018
Income tax rates
- Statutory U.S. federal rate	21	%	21	%
- State income taxes, net of federal benefit	0	%	0	%
- Excess tax benefits related to stock compensation	0	%	—	%
- AMT credit	1	%	—	%
- Effect of 2017 Tax Act	0	%	2	%
- Change in valuation allowance	(25)	%	(20)	%
Total	(3)	%	3	%

Schedule of Deferred Tax Assets and Liabilities

The net deferred income tax assets (liabilities) consisted of the following at:

December 31,	2019		2018
(in thousands)
- Depreciation & amortization	$	(4,899)	$	(5,865)
- Reserves for doubtful accounts		163		159
- Inventory reserve		2,083		2,503
- Non qualified stock options		965		778
- Net operating losses		11,016		9,574
- AMT credit		47		86
- Deferred interest		8,351		3,637
- Valuation allowance		(18,918)		(11,315)
Total		(1,192)		(443)