Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of income before income taxes

“Income from continuing operations before income taxes” in the Consolidated Statements of Operations included the following components for the periods presented (in thousands):

	Years Ended December 31,
	2014		2013		2012
U.S. income	$	11,533	$	13,774	$	8,230
Foreign income	992		1,106		1,597
Income from continuing operations before income taxes	$	12,525	$	14,880	$	9,827

Schedule of income tax expense

“Income tax expense” in the Consolidated Statements of Operations consisted of the following for the periods presented (in thousands):

	Years Ended December 31,
	2014			2013			2012
Current
Federal	$	260		$	2,920		$	252
State	405			948			862
Foreign	613			828			104
Total — Current	1,278			4,696			1,218
Deferred
Federal	3,847			1,595			2,395
State	545			287			216
Foreign	(180		)	(343		)	305
Total — Deferred	4,212			1,539			2,916
Income tax expense	$	5,490		$	6,235		$	4,134

Schedule of differences in the provision for income taxes from the amount computed by applying the U.S. federal statutory rate

	Years Ended December 31,
	2014		2013		2012
Expected taxes at federal statutory tax rate	35.0	%	35.0	%	34.0	%
State income taxes, net of federal income tax benefit	7.6		4.4		8.1
Change in valuation allowance	(1.9	)	1.8		0.2
Non-deductible business expenses	2.8		0.9		2.7
Other	0.3		(0.2	)	(2.9	)
Total	43.8	%	41.9	%	42.1	%

Schedule of significant components of deferred tax assets and liabilities

The significant components of deferred tax assets and liabilities were as follows (in thousands):

	At December 31,
	2014			2013
Deferred tax assets :
Accounts receivable	$	171		$	549
Inventories	128			305
Deferred revenue	251			325
Accrued expenses and reserves	2,809			2,135
Stock based compensation	2,844			3,790
Tax credits and loss carryforwards	4,514			2,431
Other	108			—
Total gross deferred tax assets	10,825			9,535
Less: Valuation allowance	(805		)	(987		)
Total deferred tax assets	10,020			8,548
Deferred tax liabilities:
Property and equipment	(13,916		)	(9,792		)
Intangibles	(2,604		)	(2,050		)
Foreign employment tax subsidy	(1,550		)	(1,887		)
Prepaid expenses	(918		)	(659		)
Other	(153		)	(200		)
Total deferred tax liabilities	(19,141		)	(14,588		)
Net deferred tax liabilities	$	(9,121	)	$	(6,040	)