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Income taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The following summarizes the (benefit) / provision for income taxes:
 
Years Ended December 31,
 
2015
 
2014
 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
Current:
 
 
 
 
 
 
 
Federal
 
$
174
 
$
0
 
State and local
 
 
2
 
 
(49)
 
 
 
 
176
 
 
(49)
 
Deferred:
 
 
 
 
 
 
 
Federal
 
 
2,460
 
 
(767)
 
State and local
 
 
308
 
 
(90)
 
 
 
 
2,768
 
 
(857)
 
Expense (benefit) for income taxes
 
$
2,944
 
$
(906)
 
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,
 
2015
 
 
2014
 
Income tax rates
 
 
 
 
 
 
 
 
- Statutory U.S. federal rate
 
 
34
%
 
 
34
%
- States, net U.S. benefits
 
 
4
%
 
 
4
%
- Tax benefit from prior year
 
 
0
%
 
 
18
%
Total
 
 
38
%
 
 
56
%
Schedule of Deferred Tax Assets and Liabilities
 
Elements of deferred income tax assets (liabilities) are as follows:
 
December 31,
 
2015
 
2014
 
(in thousands)
 
 
 
 
 
Deferred tax assets (liabilities)
 
 
 
 
 
 
 
- Depreciation & amortization
 
$
(412)
 
$
(428)
 
- Reserves for doubtful accounts
 
 
127
 
 
92
 
- Inventory reserve
 
 
250
 
 
305
 
- Non qualified stock options
 
 
108
 
 
215
 
- NOL
 
 
3,430
 
 
6,244
 
- AMT credit carryforward
 
 
160
 
 
0
 
Total
 
$
3,663
 
$
6,428