0001171843-20-001755 | 10-K | XBRL Viewer

Business Description and Basis of Presentation [Text Block]

Organization

Harvard Bioscience, Inc., a Delaware corporation, is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental research, discovery, and pre-clinical testing for drug development. The Company’s products and services are sold globally to customers ranging from renowned academic institutions and government laboratories, to the world’s leading pharmaceutical, biotechnology and clinical research organizations. With operations in North America and Europe, the Company has sales through a combination of direct and distribution channels to customers around the world.

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

Summary of Significant Accounting Policies

(a)	Principles of Consolidation

The consolidated financial statements include the accounts of Harvard Bioscience, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

(b)	Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for inventory excess and obsolescence, income tax and reserves for bad debts. In addition, certain estimates are required in order to determine the value of assets and liabilities associated with acquisitions, as well as the Company’s defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates.

(c)	Cash and Cash Equivalents

The Company considers all highly liquid instruments with original maturities of

three

months or less to be cash equivalents. Cash and cash equivalents include cash on hand and amounts due from banks. The Company maintains a portion of its cash in bank deposits, which at times,

may

exceed federally insured limits. The Company has

not

experienced any losses in such accounts. The Company does

not

believe it is exposed to any significant risk with respect to these accounts.

(d)	Allowance for Doubtful Accounts

The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on considering factors such as historical experience, credit quality, known troubled accounts, historical experience, factors that

may

affect a customer’s ability to pay and other currently available evidence.

(e)	Inventories

The Company values its inventories at the lower of the actual cost to purchase (

first

-in,

first

-out method) and/or manufacture the inventories or the net realizable value of the inventories. The Company regularly reviews inventory quantities on hand and records a provision to write down excess and obsolete inventories to its estimated net realizable value if less than cost, based primarily on historical inventory usage and estimated forecast of product demand.

(f)	Property, Plant and Equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows:

Machinery and equipment	3	-	10	years
Computer equipment and software	3	-	7	years
Furniture and fixtures	5	-	10	years

Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.

(g)

Leases

The Company accounts for its leases in accordance with ASC

842

Leases. The Company leases office space, manufacturing facilities, automobiles and equipment. The Company concludes on whether an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time in exchange for consideration. Leases with an initial term of

months or less are

not

recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term.

The Company has assessed its contracts and concluded that its leases consist of operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do

not

provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate represents a significant judgment that is based on an analysis of the Company’s credit rating, country risk, treasury and corporate bond yields, as well as comparison to the Company’s borrowing rate on its most recent loan. The Company uses the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for its leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities.

(h)	Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company recognizes the effect of income tax positions only if those positions are more likely than

not

of being sustained. Recognized income tax positions are measured at the largest amount that is more than

50%

likely of being realized. Changes in recognition are reflected in the period in which the judgement occurs.

(i)	Foreign Currency Translation

The functional currency of the Company’s foreign subsidiaries is generally their local currency. All assets and liabilities of its foreign subsidiaries are translated at exchange rates in effect at period-end. Income and expenses are translated at rates which approximate those in effect on the transaction dates. The resulting translation adjustment is recorded as a separate component of stockholders’ equity in accumulated other comprehensive (loss) income (“AOCI”) in the consolidated balance sheets. Gains and losses resulting from foreign currency transactions are included in net (loss) income.

(j)	Earnings per Share

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods presented. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options and other potentially dilutive securities using the treasury stock method unless the effect is antidilutive. Since the Company is reporting discontinued operations, it used income from continuing operations as the control number in determining whether those potential dilutive securities are dilutive or antidilutive.

(k)	Comprehensive (Loss) Income

The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)

220,

“Comprehensive Income”. FASB ASC

220

requires companies to report all changes in equity during a period, resulting from net (loss) income and transactions from non-owner sources, in a financial statement in the period in which they are recognized. The Company has chosen to disclose comprehensive (loss) income, which encompasses net (loss) income, foreign currency translation adjustments, gains and losses on derivatives, the underfunded status of its pension plans, and pension minimum additional liability adjustments, net of tax, in the consolidated statements of comprehensive (loss) income.

(l)	Revenue Recognition

Nature of contracts and customers

The Company’s contracts are primarily of short duration and are mostly based on the receipt and fulfilment of purchase orders. The purchase orders are binding and include pricing and all other relevant terms and conditions.

The Company’s customers are primarily research scientists at pharmaceutical and biotechnology companies, universities, hospitals, government laboratories, including the United States National Institute of Health (NIH) and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer (OEM) customers who incorporate its products into their products under their own brands.

Performance obligations

The Company’s performance obligations under its revenue contracts consist of its instruments, equipment, accessories, services, maintenance and extended warranties. Equipment also includes software that functions together with the tangible equipment to deliver its essential functionality.

Contracts with customers

may

contain multiple promises such as delivery of hardware, software, professional services or post-contract support services. These promises are accounted for as separate performance obligations if

they are distinct. For contracts with customers that contain multiple performance obligations, the transaction price is allocated to the separate performance obligations based on estimated relative standalone selling price, which does

not

materially differ from the stated price in the contract. In general, the Company’s list prices are indicative of standalone selling price.

Instruments, equipment and accessories consist of a range of products that are used in life sciences research. Revenues from the sales of these items are recognized when transfer of control of these products to the customer occurs. Transfer of control occurs when the Company has a right to payment, and the customer has legal title to the asset and the customer or their selected carrier has possession, which is typically upon shipment. Sales on these items are therefore generally recognized at a point in time.

The Company’s equipment revenue also includes the sale of wireless implantable monitors that are used for life science research purposes. The Company sells these wireless implantable monitors to pharmaceutical companies, contract research organizations and academic laboratories. In addition to sales generated from new and existing customers, these implantable devices are also sold under a program called the “exchange program”. Under this program, customers

may

return an implantable monitor to the Company after use, and if the returned monitor can be reprocessed and resold, they

may,

in exchange, purchase a replacement implantable monitor of the same model at a lower price than a new monitor. The implantable monitors that are returned by customers are reprocessed and made available for future sale. The initial sale of implantable monitors and subsequent sale of replacement implantable monitors are independent transactions. The Company has

obligation in connection with the initial sale to sell replacement implantable monitors at any future date under any fixed terms and

may

refuse returned implantable monitors that cannot be recovered or are obsolete. The Company has concluded that the offer to its customers that they

may

purchase a discounted product in the future is

not

a material right based on the applicable guidance within ASC

606.

Service revenues consist of installation, training, data analysis, and surgeries performed on research animals. Maintenance revenue consists of post-contract support provided in relation to software that is embedded within the equipment that is sold to the customer. The Company provides standard warranties that promise the customer that the product will work as promised. These standard warranties are

not

a separate performance obligation. Extended warranties relate to warranties that are separately priced, and purchased in addition to a standard warranty, and are therefore a separate performance obligation. The Company has made the judgment that the customer benefits as the Company performs over the period of the contract, and therefore revenues from service, maintenance and warranty contracts are recognized over time. The Company uses the input method to recognize revenue over time, based on time elapsed, which is generally on a straight-line basis over the service period. The period over which maintenance and warranty contracts is recognized is typically

one

year. The period over which service revenues is recognized is generally less than

one

month.

For sales for which transfer of control occurs upon shipment, the Company accounts for shipping and handling costs as fulfilment costs. As such, the Company records the amounts billed to the customer for shipping costs as revenue and the costs within cost of revenues upon shipment. For sales, for which control transfers to customers after shipment, the Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods to the customer. The Company therefore accrues for the costs of shipping undelivered items in the period of shipment.

Revenues expected to be recognized related to any and all remaining performance obligations are generally expected to be recognized in

one

year or less, as the majority of the Company's contracts have a term of less than

one

year.

Variable Consideration

The nature of the Company's contracts gives rise to certain types of variable consideration, including in limited cases volume and payment discounts. The Company analyzes sales that could include variable consideration and estimates the expected or most likely amount of revenue after returns, trade-ins, discounts, rebates, credits, and incentives. Product returns are estimated and accrued for, based on historical information. In making these estimates, the Company considers whether the amount of variable consideration is constrained and is included in revenue only to the extent that it is probable that a significant reversal of the revenue recognized will

not

occur when the uncertainty associated with the variable consideration is subsequently resolved. Variable consideration, and its impact on the Company’s revenue recognition, was

not

material in any of the periods presented.

The Company’s payment terms are generally from

zero

sixty

days from the time of invoicing, which generally occurs at the time of shipment or prior to services being performed. Payment terms vary by the type of its customers and the products or services offered.

Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues.

Deferred revenue

The Company records deferred revenue when cash is collected from customers prior to satisfaction of the Company’s performance obligation to the customer. Deferred revenue consists of amounts deferred related to service contracts and revenue deferred as a result of payments received in advance from customers. Deferred revenue is generally expected to be recognized within

one

year.

The amounts included in deferred revenue from advanced payments relate to amounts that are prepaid for wireless implantable monitors under the exchange program. The Company has made the judgment that these payments do

not

represent a significant financing component as the customer can exercise their discretion as to when they can obtain the products that they have made a prepayment for.

Advanced payments received from customers are recorded as a liability, and revenue is recognized when the Company’s performance obligations are completed. Performance obligations are completed when the product is shipped or delivered to the customer, or at the end of the exchange program if goods are

not

acquired prior to the termination of the contract period.

Disaggregation of revenue

Refer to Note

for revenue disaggregated by type and by geographic region as well as further information about the deferred revenue balances.

(m)	Valuation of Identifiable Intangible Assets Acquired in Business Combinations

The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in the Company’s acquisitions, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or

not

amortizable and, if the former, the period and the method by which the intangibles asset will be amortized. The Company estimates the fair value of acquisition-related intangible assets principally based on projections of cash flows that will arise from identifiable assets of acquired businesses. The projected cash flows are discounted to determine the present value of the assets at the dates of acquisitions. At

December 31, 2019,

amortizable intangible assets include existing technology, trade names, distribution agreements, customer relationships and patents. These amortizable intangible assets are amortized on a straight-line basis over

years,

years and

years, respectively.

(n)	Goodwill and Other Intangible Assets

Goodwill and unamortizable intangible assets acquired in a business combination and determined to have an indefinite useful life are

not

amortized, but instead are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired, in accordance with the provisions of FASB ASC

350,

“Intangibles—Goodwill and Other”.

For the purpose of its goodwill analysis, the Company has

one

reporting unit. The Company conducted its annual impairment analysis in the

fourth

quarter of fiscal year

2019.

The goodwill impairment test is a

two

-step process. The

first

step of the impairment analysis compares the Company’s fair value to its carrying value to determine if there is any indication of impairment. Step

two

of the analysis compares the implied fair value of goodwill to its carrying amount in a manner similar to a purchase price allocation for business combination. If the carrying amount of goodwill exceeds its implied fair value, an impairment loss is recognized equal to that excess. For indefinite-lived intangible assets if the carrying amount exceeds the fair value of the asset, the Company would write down the indefinite-lived intangible asset to fair value.

December 31, 2019,

the fair value of the Company significantly exceeded the carrying value. The Company concluded that

none

of its goodwill was impaired.

The Company evaluates indefinite-lived intangible assets for impairment annually and when events occur, or circumstances change that

may

reduce the fair value of the asset below its carrying amount. Events or circumstances that might require an interim evaluation include unexpected adverse business conditions, economic factors, unanticipated technological changes or competitive activities, loss of key personnel and acts by governments and courts. Refer to Note

for further details regarding impairment of indefinite-lived intangible assets.

(o)	Impairment of Long-Lived Assets

The Company assesses recoverability of its long-lived assets that are held for use, such as property, plant and equipment and amortizable intangible assets in accordance with FASB ASC

360,

“Property, Plant and Equipment” when events or changes in circumstances indicate that the carrying amount of an asset or asset group

may

not

be recoverable. Recoverability of assets or an asset group to be held and used is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or the asset group. Cash flow projections are based on trends of historical performance and management’s estimate of future performance. If the carrying amount of the asset or asset group exceeds the estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset or asset group exceeds its estimated fair value. At

December 31, 2019,

the Company concluded that

none

of its long-lived assets were impaired.

(p)	Derivatives

The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does

not

enter into derivative instruments for any purpose other than cash flow hedging. The Company does

not

speculate using derivative instruments. The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in the fair value are either offset through earnings against the change in fair value of the hedged item attributable to the risk being hedged or recognized in AOCI, to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings.

The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.

The Company discontinues hedge accounting prospectively when it determines that the derivative is

longer effective in offsetting cash flows attributable to the hedged risk, the derivative expires or is sold, terminated, or exercised, the cash flow hedge is de-designated because a forecasted transaction is

not

probable of occurring, or management determines to remove the designation of the cash flow hedge.

In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings. When it is probable that a forecasted transaction will

not

occur, the Company discontinues hedge accounting and recognizes immediately in earnings gains and losses that were accumulated in other comprehensive income related to the hedging relationship.

(q)	Fair Value of Financial Instruments

The carrying values of the Company’s cash and cash equivalents, trade accounts receivable and trade accounts payable and short-term debt approximate their fair values because of the short maturities of those instruments. The fair value of the Company’s long-term debt approximates its carrying value and is based on the amount of future cash flows associated with the debt discounted using current borrowing rates for similar debt instruments of comparable maturity.

Financial reporting standards define a fair value hierarchy that consists of

three

levels:

Level

includes instruments for which quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.

Level

includes instruments for which the valuations are based on quoted prices for similar assets or liabilities, quoted prices in markets that are

not

active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

Level

includes valuations based on inputs that are unobservable and significant to the overall fair value measurement.

(r)	Stock-based Compensation

The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC

718,

“Compensation—Stock Compensation”, which requires it to recognize compensation expense for all stock-based payment awards made to employees and directors including stock options, restricted stock units, and restricted stock units with a market condition related to our Third Amended and Restated

2000

Stock Option and Incentive Plan (as amended, the “Third A&R Plan”) as well as employee stock purchases (“employee stock purchases”) related to its Employee Stock Purchase Plan (as amended, the “ESPP”). The Company issues new shares upon stock option exercises, upon vesting of restricted stock units and restricted stock units with a market condition, and under the Company’s ESPP.

Stock-based compensation expense recognized is based on the value of the portion of stock-based payment awards that is ultimately expected to vest. The Company values stock-based payment awards, except restricted stock units at grant date using the Black-Scholes option-pricing model (“Black-Scholes model”). The Company values restricted stock units with a market condition using a Monte-Carlo valuation simulation. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model or Monte-Carlo valuation simulation is affected by its stock price as well as assumptions regarding certain variables. These variables include, but are

not

limited to its expected stock price volatility over the term of the awards and actual and projected stock option exercise behaviors.

The fair value of restricted stock units is based on the market price of the Company’s stock on the date of grant and are recorded as compensation expense on a straight-line basis over the applicable service period, which ranges from

one

four

years. Unvested restricted stock units are forfeited in the event of termination of employment with the Company.

Stock-based compensation expense recognized under FASB ASC

718

for the years ended

December 31, 2019

and

2018

consisted of stock-based compensation expense related to stock options, the employee stock purchase plan, and the restricted stock units and was recorded as a component of cost of product revenues, sales and marketing expenses, general and administrative expenses, research and development expenses and discontinued operations. Refer to Note

for further details.

(s)	Recent Accounting Pronouncements

Accounting Pronouncements to be Adopted

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments—Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments,

which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This

may

result in the earlier recognition of allowances for losses. The FASB issued several ASUs after ASU

2016

to clarify implementation guidance and to provide transition relief for certain entities. ASU

2016

is effective for the Company for fiscal years beginning after

December 15, 2022,

with early adoption permitted. The Company is evaluating the impact of adopting ASU

2016

and related amendments will have on its consolidated financial position, results of operations and cash flows.

August 2018,

the FASB issued ASU

No.

2018

14,

Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans

, which amends ASC

715

to add, remove and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The ASU is effective for public entities for fiscal years beginning after

December 15, 2020,

with early adoption permitted. Management has

not

yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements.

December 2019,

the FASB issued ASU

2019

12,

Income Taxes (Topic

740

): Simplifying the Accounting for Income Taxes

, which enhances and simplifies various aspects of the income tax accounting guidance related to intra-period tax allocation, interim period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim period tax accounting. ASU

2019

also amends other aspects of the guidance to reduce complexity in certain areas. ASU

2019

will become effective for the Company on

January 1, 2021.

Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its financial statements and related disclosures.

Accounting Pronouncements Recently Adopted

August 2017,

the FASB issued ASU

No.

2017

12,

Derivatives and Hedging (Topic

815

) which amends the hedge accounting recognition and presentation requirements in ASC

815,

Derivatives and Hedging. The Board’s objectives in issuing the ASU are to (

) improve the transparency and understandability of information conveyed to financial statement users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities and (

) reduce the complexity of and simplify the application of hedge accounting by preparers. The ASU is effective for annual reporting periods, including interim periods within those annual reporting periods, beginning after

December 15, 2018.

The Company adopted this guidance as of

January 1, 2019,

and it did

not

have a material impact on its consolidated financial position, results of operations and cash flows.

February 2016,

the FASB issued ASU

No.

2016

02,

Leases, which is intended to improve financial reporting about leasing transactions. The update requires a lessee to record on its balance sheet the assets and liabilities for the rights and obligations created by lease terms of more than

months. The update is effective for fiscal years beginning after

December 15, 2018.

A modified retrospective transition approach is required for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company elected to utilize a practical expedient in its method of adoption of the standard and adopted the guidance as of

January 1, 2019.

Under this expedient, which is a “current-period adjustment method,” the Company applied ASC

842

as of

January 1. 2019,

and recognized operating lease liabilities of

$11.7

million and right of use assets of

$9.4

million for all leases with lease terms of more than

months. There was

impact to retained earnings as of that date. In addition, the Company adopted the guidance by electing the following practical expedients: (

) the Company did

not

reassess whether any expired or existing contracts contained leases, (

) the Company did

not

reassess the lease classification for any expired or existing leases, and (

) the Company excluded variable payments from the lease contract consideration and recorded those as incurred. The Company’s future commitments under lease obligations and additional disclosures are summarized in Note

12.

(t)	Discontinued Operation

As disclosed in Note

January 22, 2018,

the Company sold substantially all the assets of its operating subsidiary, Denville Scientific, Inc. (Denville). The sale of Denville represented a strategic shift that had a major effect on the Company’s operations and financial results. As such and pursuant to Accounting Standards Codification (ASC)

205

–

Presentation of Financial Statements - Discontinued Operations,

the operating results of Denville for the year ended

December 31, 2018

has been presented in discontinued operations in the consolidated statements of operations. These adjustments had

effect on total amounts within the consolidated balance sheet, consolidated statements of operations and comprehensive income (loss), consolidated statements of cash flows for any of the periods presented.

(u)	Prior Period Financial Statement Correction of Immaterial Error

During the quarter ended

March 31, 2019,

the Company identified an immaterial misclassification error in the Company’s consolidated balance sheet as of

December

31,

2018.

The immaterial misclassification understated the current portion of the long term debt balance and overstated the long-term debt balance, less current installments. This misclassification, in the amount of approximately

$4.0

million, related to the classification of the Company’s excess cash flow payment made to its lenders during the month ended

April 30, 2019

as long term instead of current on its consolidated balance sheet at

December 31, 2018.

The misclassification had

impact on the total reported debt. Refer to footnote

for further details. The Company assessed the materiality of this error on the financial statements for prior periods in accordance with the SEC Staff Accounting Bulletin (SAB)

No.

99,

Materiality, codified in Accounting Standards Codification (ASC)

250,

Presentation of Financial Statements, and concluded that it was

not

material to any prior annual or interim periods. The Company recorded an adjustment to decrease the long term debt balance, less current installments and increase the current portion of the long term debt balance in the consolidated balance sheet at

December

31,

2018

with

impact on total reported debt.

Note 3 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss) Note [Text Block]

Accumulated Other Comprehensive Loss

Changes in each component of accumulated other comprehensive loss, net of tax are as follows:

	Foreign currency			Derivatives
	translation			qualifying as			Defined benefit
(in thousands)	adjustments			hedges			pension plans			Total

Balance at December 31, 2017	$	(9,755	)	$	37		$	(958	)	$	(10,676	)

Other comprehensive (loss) income before reclassifications		(2,875	)		(343	)		(49	)		(3,267	)
Amounts reclassified from AOCI		-			136			275			411
Net other comprehensive (loss) income		(2,875	)		(207	)		226			(2,856	)

Balance at December 31, 2018	$	(12,630	)	$	(170	)	$	(732	)	$	(13,532	)

Other comprehensive income (loss) before reclassifications		(543	)		(572	)		1,258			143
Amounts reclassified from AOCI		-			139			561			700
Net other comprehensive (loss) income		(543	)		(433	)		1,819			843

Balance at December 31, 2019	$	(13,173	)	$	(603	)	$	1,087		$	(12,689	)

The amounts reclassified out of accumulated other comprehensive (loss) income are as follows:

	Affected line item in the	Year Ended December 31,
(in thousands)	Statements of Operations	2019		2018
Amounts Reclassified From AOCI
Derivatives qualifying as hedges
Realized loss on derivatives qualifying as hedges	Interest expense, net	$	139	$	136
Income tax	Income tax (benefit) expense		-		-
			139		136
Defined benefit pension plans
Amortization of net losses included in net periodic pension costs	General and administrative expenses		561		331
Income tax	Income tax (benefit) expense		-		(56	)
			561		275

Total reclassifications		$	700	$	411

Note 4 - Acquisition

12 Months Ended

Dec. 31, 2019

Business Combination Disclosure [Text Block]

Acquisition

January 31, 2018,

the Company acquired all of the issued and outstanding shares of Data Sciences International, Inc. (DSI), a Delaware corporation, for approximately

$71.1

million. The Company funded the acquisition from its existing cash balances, excess proceeds from the Denville Transaction discussed in Note

and proceeds from the Financing Agreement discussed in Note

14.

DSI, a St. Paul, Minnesota-based life science research company, is a recognized leader in physiologic monitoring focused on delivering preclinical products, systems, services and solutions to its customers. Its customers include pharmaceutical and biotechnology companies, as well as contract research organizations, academic labs and government researchers. This acquisition diversifies the Company’s customer base into the biopharmaceutical and contract research organization markets.

The results of operations for DSI have been included in the Company’s consolidated financial statements from the date of acquisition. Included in the net loss for the year ended

December 31, 2018

was a

$3.8

million charge recognized in cost of revenues related to purchase accounting inventory fair value step up amortization. The total inventory fair value step up was recognized into cost of revenues over

one

inventory turn, or approximately

six

months. Also included in the net loss of DSI for that period was

$2.9

million of intangible asset amortization expense.

The following consolidated pro forma information is based on the assumption that was used at the time of the acquisition of DSI. Accordingly, the historical results have been adjusted to reflect amortization expense, interest expense and other purchase accounting adjustments that would have been recognized on such a pro forma basis. The pro forma information is presented for comparative purposes only and is

not

necessarily indicative of the financial position or results of operations which would have been reported had the Company completed the acquisition during these periods or which might be reported in the future.

	Year Ended December 31, 2018
	(in thousands, unaudited)
Pro Forma
Revenues	$	124,319
Income from continuing operations		3,614

Direct acquisition costs recorded in other expense, net in the Company’s consolidated statements of operations were

$3.4

million for the year ended

December 31, 2018.

Note 5 - Discontinued Operations

12 Months Ended

Dec. 31, 2019

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

January 22, 2018,

the Company sold substantially all the assets of its wholly owned subsidiary, Denville, for approximately

$20.0

million, which included a

$3.0

million earn-out provision (the Denville Transaction). Upon the closing of the transaction, the Company received net cash proceeds of

$15.7

million. The earn-out provision represented contingent consideration of up to

$2.0

million based on Denville achieving certain performance metrics with respect to

2018

operating results and up to

$1.0

million based on Denville achieving certain performance metrics with respect to

2019

operating results. The Company has determined that the

2018

performance metrics were

not

achieved and expects that the

2019

performance metrics will

not

be achieved.

The following table is a reconciliation of the major line items of income from discontinued operations presented within the Company’s consolidated statements of operations for the years ended

December 31, 2018.

	Year Ended
	December 31,
	2018
	(in thousands)
Revenues	$	893
Cost of revenues		(534	)
Operating and other expenses		(674	)
Gain on disposal of discontinued operations		1,251
Income from discontinued operations before income taxes	$	936
Income tax benefit		(441	)
Income from discontinued operations		1,377

During the year ended

December 31, 2019,

the Company received a release of an escrow amount of

$1.0

million related to the Denville Transaction, which is included in the investing cash flows from disposition in the Company’s consolidated statements of cash flows for the year ended

December 31, 2019.

Total operating cash flows for Denville in the Company’s consolidated statements of cash flows for the year ended

December 31, 2018,

were immaterial.

Note 6 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill for the year ended

December 31, 2019

and

2018

are as follows:

	December 31,
	2019		2018
	(in thousands)
Carrying amount at beginning of year	$	57,304	$	36,336
Goodwill arising from business combination		-		21,865
Effect of change in currency translation		77		(897	)
Carrying amount at end of year	$	57,381	$	57,304

Intangible assets

			December 31,
			2019							2018
			(in thousands)
Amortizable intangible assets:	Weighted Average Life* (Years)		Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Distribution agreements/customer relationships		9.8	$	17,891	$	(6,340	)	$	11,551	$	22,657	$	(9,509	)	$	13,148
Existing technology		6.1		41,222		(19,698	)		21,524		41,268		(16,215	)		25,053
Trade names		6.8		7,692		(3,497	)		4,195		7,828		(2,861	)		4,967
In-process R&D		-		-		-			-		1,387		(30	)		1,357
Patents		-		218		(218	)		-		211		(204	)		7
Total amortizable intangible assets			$	67,023	$	(29,753	)	$	37,270	$	73,351	$	(28,819	)	$	44,532
Indefinite-lived intangible assets:									1,135							1,232
Total intangible assets								$	38,405						$	45,764

* Weighted average life as of

December 31, 2019.

Intangible asset amortization expense from continuing operations was

$5.7

million and

$5.4

million for the years ended

December 31, 2019

and

2018,

respectively. Amortization expense of existing amortizable intangible assets is currently estimated to be

$5.5

million for the year ending

December 31, 2020,

$5.5

million for the year ending

December 31, 2021,

$5.5

million for the year ending

December

31,

2022,

$5.3

million for the year ending

December

31,

2023,

and

$5.3

million for the year ending

December

31,

2024.

During the year ended

December 31, 2019,

the Company recorded (i) an impairment charge of

$0.9

million related to certain of its in-process research and development intangible assets and reclassified

$0.4

million as completed technology; (ii) an impairment charge of

$0.5

million related to customer relationships, existing technology, and trade names intangible assets as a result of the decision to discontinue

one

of the Company’s product lines and cease operations in its facility in North Carolina, and (iii) an impairment charge of

$0.1

million and retired

$5.3

million of fully amortized intangible assets related to customer relationships, existing technology, and trade names intangible assets as a result of the Company’s periodic evaluation of its intangible assets.

There were

impairment charges recognized during the year ended

December 31, 2018.

Note 7 - Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Text Block]

Inventories

As of

December 31, 2019,

and

December 31, 2018,

inventories consist of the following:

	December 31,
	2019		2018
	(in thousands)
Finished goods	$	5,561	$	6,936
Work in process		3,153		3,667
Raw materials		13,347		14,484
Total	$	22,061	$	25,087

Note 8 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment Disclosure [Text Block]

Property, Plant and Equipment

As of

December 31, 2019

and

December 31, 2018,

property, plant and equipment consist of the following:

	December 31,
	2019			2018
	(in thousands)
Machinery and equipment	$	7,198		$	9,678
Computer equipment and software		8,954			9,685
Leasehold improvements		2,151			2,468
Furniture and fixtures		1,321			1,390
Automobiles		92			115
		19,716			23,336
Less: accumulated depreciation		(14,940	)		(17,438	)
Property, plant and equipment, net	$	4,776		$	5,898

During the year ended

December 31, 2019,

the Company removed approximately

$4.8

million of fully depreciated and disposed of property and equipment from its fixed asset records.

Note 9 - Restructuring and Other Exit Costs

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities Disclosure [Text Block]

Restructuring and Other Exit Costs

During

2019,

the Board of Directors of the Company approved a restructuring program designed to improve gross margins and operating margins while reinvesting in resources required to deliver sustained, profitable organic growth. The restructuring program will entail consolidating and downsizing several sites and includes headcount reductions in Europe and North America to improve operational efficiency and reduce costs.

The restructuring program is expected to be completed by the end of

2020,

with the majority of activities completed in the

first

half of

2020.

The Company expects to incur costs associated with headcount reductions, program management and other transition costs necessary to affect the site consolidations and other business improvements including the

$1.4

million restructuring costs incurred during the year ended

December 31, 2019.

Substantially all of these costs are expected to result in future cash outlays.

The following table summarizes the activity for accrued restructuring liability for the year ended

December 31, 2019:

(in thousands)	Cost of Revenues			Severance Costs			Impairment			Other			Total
Restructuring charges	$	235		$	530		$	460		$	129		$	1,354
Non-cash charges		(235	)		-			(460	)		(10	)		(705	)
Cash payments		-			(166	)		-			(115	)		(281	)
Balance at December 31, 2019	$	-		$	364		$	-		$	4		$	368

Of the

$1.4

million restructuring costs incurred during the year ended

December 31, 2019,

$0.5

million has been recorded as impairment of intangible assets in the accompanying consolidated statements of operations,

$0.2

million has been included in cost of revenues, and the remaining costs of

$0.7

million have been included as a component of selling, general and administrative expenses. As of

December 31, 2019,

the Company had a restructuring liability of

$0.4

million which is payable within the next

twelve

months and has been included in other current liabilities in the consolidated balance sheet.

Note 10 - Related Party Transactions

12 Months Ended

Dec. 31, 2019

10.

Related Party Transactions

As part of the acquisitions of Multi Channel Systems MCS GmbH (MCS) and Triangle BioSystems, Inc. (TBSI) in

2014,

the Company signed lease agreements with the former owners of these acquired companies. The principals of such former owners of MCS and TBSI became employees of the Company. Pursuant to these lease agreements, the Company made rent payments of approximately

0.3

million for each of the years ended

December 31, 2019

and

2018.

Note 11 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Pension and Other Postretirement Benefits Disclosure [Text Block]

11.

Employee Benefit Plans

The Company sponsors profit sharing retirement plans for its U.S. employees, which includes employee savings plans established under Section

401

(k) of the U.S. Internal Revenue Code (the

“401

(k) Plans”). The

401

(k) Plans cover substantially all full-time employees who meet certain eligibility requirements. Contributions to the

401

(k) Plans are at the discretion of management. For the years ended

December 31, 2019

and

2018,

the Company contributed approximately

$0.4

million and

$0.5

million, respectively, to the

401

(k) Plans.

The Company’s subsidiary in the United Kingdom, Biochrom Limited maintains contributory, defined benefit or defined contribution pension plans for substantially all of its employees. In

2014,

these defined benefit pension plans were closed to new employees, as well as closed to the future accrual of benefits for existing employees. The provisions of FASB ASC

715

require that the funded status of the Company’s pension plans be recognized in its balance sheet. FASB ASC

715

does

not

change the measurement or income statement recognition of these plans, although it does require that plan assets and benefit obligations be measured as of the balance sheet date. The Company has historically measured the plan assets and benefit obligations as of the balance sheet date.

The components of the Company’s net period benefit cost were as follows:

	Year Ended December 31,
	2019			2018
	(in thousands)
Components of net periodic benefit cost:
Interest cost		484			502
Expected return on plan assets		(761	)		(779	)
Net amortization loss		336			222
Recognition of net gain/loss due to settlements		228			110
Net periodic benefit cost	$	287		$	55

The measurement date is

December

for these plans. The funded status of the Company’s defined benefit pension plans and the amount recognized in the consolidated balance sheets at

December

31,

2019

and

2018

is as follows:

	December 31,
	2019			2018
	(in thousands)
Change in benefit obligation:
Balance at beginning of year	$	18,701		$	21,126
Service cost		-			24
Interest cost		484			502
Actuarial (gain) loss		1,513			(1,056	)
Settlements due to transfers paid		(871	)		(267	)
Benefits paid		(447	)		(521	)
Currency translation adjustment		647			(1,107	)
Balance at end of year	$	20,027		$	18,701

	December 31,
	2019			2018
	(in thousands)
Change in fair value of plan assets:
Balance at beginning of year	$	17,819		$	19,972
Actual return on plan assets		3,172			(1,058	)
Employer contributions		831			741
Settlement due to transfers paid		(931	)		(263	)
Benefits paid		(447	)		(521	)
Currency translation adjustment		670			(1,052	)
Balance at end of year	$	21,114		$	17,819

	December 31,
	2019		2018
	(in thousands)
Benefit obligation:
Funded status	$	1,087	$	(882	)
Unrecognized net loss		N/A		N/A
Net asset (liability) recognized	$	1,087	$	(882	)

The amounts recognized in the consolidated balance sheets consist of:

	December 31,
	2019		2018
	(in thousands)
Other long term assets (liabilities)	$	1,087	$	(882	)
Deferred income tax assets		-		150
Net amount recognized	$	1,087	$	(732	)

The amounts recognized in accumulated other comprehensive loss, net of tax consist of:

	December 31,
	2019		2018
	(in thousands)
Funded status of pension plans	$	1,087	$	(732	)
Net amount recognized	$	1,087	$	(732	)

The weighted average assumptions used in determining the net pension cost for these plans follows:

	Year Ended December 31,
	2019			2018

Discount rate		2.02	%		2.65	%
Expected return on assets		3.84	%		4.68	%

The discount rate assumptions used for pension accounting reflect the prevailing rates available on high-quality, fixed-income debt instruments with terms that match the average expected duration of the Company’s defined benefit pension plan obligations. The Company uses the iBoxx AA

15yr

+ index, which matches the average duration of its pension plan liability of approximately

years.

The Company’s mix of pension plan investments among asset classes also affects the long-term expected rate of return on plan assets. As of

December

31,

2019,

the Company’s actual asset mix approximated its target mix. Differences between actual and expected returns are recognized in the calculation of net periodic pension (income)/cost over the average remaining expected future working lifetime, which is approximately

years, of active plan participants.

The fair value and asset allocations of the Company’s pension benefits as of

December

31,

2019

and

2018

measurement dates were as follows:

	December 31,
	2019				2018
	(in thousands)
Asset category:
Equity securities	$	11,534	55	%	$	9,134	51	%
Debt securities		3,919	19	%		3,274	18	%
Liability driven investment funds		3,615	17	%		4,341	24	%
Cash and cash equivalents		1,514	7	%		618	4	%
Other		532	3	%		452	3	%
Total	$	21,114	100	%	$	17,819	100	%

Financial reporting standards define a fair value hierarchy that consists of

three

levels. The fair values of the plan assets by fair value hierarchy level as of

December

31,

2019

and

2018

is as follows:

	December 31,
	2019		2018
	(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	1,514	$	618
Significant Other Observable Inputs (Level 2)		19,600		17,201
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	21,114	$	17,819

Level

assets consist of cash and cash equivalents held in the pension plans at

December

31,

2019.

The Level

assets primarily consist of investments in private investment funds that are valued using the net asset values provided by the trust or fund, including an insurance contract. Although these funds are

not

traded in an active market with quoted prices, the investments underlying the net asset value are based on quoted prices.

The Company expects to contribute at least

$0.9

million to its pension plans during

2020.

The benefits expected to be paid from the pension plans are

$0.5

million in

2020,

$0.5

million in

2021,

$0.6

million in

2022,

$0.7

million in

2023

and

$0.8

million in

2024.

The expected benefits to be paid in the

five

years from

2025—2029

are

$4.2

million. The expected benefits are based on the same assumptions used to measure the Company’s benefit obligation at

December 31, 2019.

Note 12 - Leases

12 Months Ended

Dec. 31, 2019

Lessee, Operating Leases [Text Block]

12.

Leases

The Company has noncancelable operating leases for office, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through

2024.

As discussed in Footnote

the Company adopted ASC

842

as of

January 1, 2019,

using a current period adjustment method. In accordance with this method, the Company recognized a right of use asset of

$9.4

million and an operating lease liability of

$11.7

million as of

January 1, 2019.

As a result of using the current period adjustment method, the lease expense for the year ended

December 31, 2019

and

2018

was recognized under ASC

842,

and ASC

840,

the previous standard, respectively.

The components of lease expense for the year ended

December 31, 2019

are as follows:

	Year Ended
	December 31, 2019
	(in thousands)
Operating lease cost	$	2,084
Short term lease cost		245
Sublease income		(429	)
Total lease cost	$	1,900

Supplemental cash flow information related to the Company’s operating leases was as follows:

	Year Ended
	December 31, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:	$	2,530

Right-of-use assets obtained in exchange for lease obligations:	$	177

Supplemental balance sheet information related to the Company’s operating leases was as follows:

	December 31, 2019
	(in thousands)
Operating lease right-of use assets	$	8,463

Current portion, operating lease liabilities	$	2,424
Operating lease liabilities, long term		8,224
Total operating lease liabilities	$	10,648

Weighted average remaining lease term (in years)		8.1
Weighted average discount rate		9.2	%

Since most of the Company’s leases do

not

provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

Future minimum lease payments for operating leases, with initial or remaining terms in excess of

one

year at

December 31, 2019,

are as follows:

	Operating
	Leases
	(in thousands)
2020	$	2,426
2021		1,945
2022		1,862
2023		1,832
2024		1,587
Thereafter		5,889
Total lease payments		15,541
Less interest		(4,893	)
Total operating lease liabilities	$	10,648

As presented in our

2018

Form

-K, the future minimum lease payments for operating leases, with initial or remaining terms in excess of

one

year at

December 31, 2018

were:

	Operating
	Leases
	(in thousands)
2019	$	2,250
2020		2,247
2021		1,987
2022		1,966
2023		1,990
Thereafter		7,559
Net minimum lease payments	$	17,999

Total rent expense was

$3.2

million and

$1.8

million for the year ended

December 31, 2018

and

2017,

respectively.

Note 13 - Capital Stock

12 Months Ended

Dec. 31, 2019

Shareholders' Equity and Share-based Payments [Text Block]

13.

Capital Stock and Stock-Based Compensation

Common Stock

February

2008,

the Company’s Board of Directors adopted a Shareholder Rights Plan and declared a dividend distribution of

one

preferred stock purchase right for each outstanding share of the Company’s common stock to shareholders of record as of the close of business on

February

2008.

These rights were

not

initially exercisable and would trade with the shares of the Company’s common stock. The rights would become exercisable under various conditions according to the terms of the plan. The Shareholder Rights Plan expired, with

rights having become exercisable, in accordance with its terms on the close of business on

February 6, 2018.

Preferred Stock

The Company’s Board of Directors has the authority to issue up to

5.0

million shares of preferred stock and to determine the price privileges and other terms of the shares. The Board of Directors

may

exercise this authority without any further approval of stockholders. As of

December 31, 2019,

the Company had

preferred stock issued or outstanding.

Employee Stock Purchase Plan (as amended, the ESPP)

2000,

the Company approved the ESPP. Under this ESPP, participating employees can authorize the Company to withhold a portion of their base pay during consecutive

six

-month payment periods for the purchase of shares of the Company’s common stock. At the conclusion of the period, participating employees can purchase shares of the Company’s common stock at

85%

of the lower of the fair market value of the Company’s common stock at the beginning or end of the period. Shares are issued under the ESPP for the

six

-month periods ending

June

and

December

31.

May

16,

2019,

the stockholders of the Company approved an increase of

350,000

shares of common stock in the number of shares available for issuance under the ESPP. Following such amendment,

1,400,000

shares of common stock are authorized for issuance, of which

1,081,404

shares were issued as of

December 31, 2019.

There were

190,642

and

89,308

shares issued under the ESPP during the years ended

December 31, 2019

and

2018,

respectively. As of

December 31, 2019,

there were

318,596

shares available for issuance under the plan.

Third Amended and Restated

2000

Stock Option and Incentive Plan (as amended, the Third A&R Plan)

May 25, 2011,

the stockholders of the company approved the Third A&R Plan, which such plan currently authorizes the grant of stock options and stock-based awards to officers, employees, non-employee directors and other key persons of the Company and its subsidiaries. The Third Amendment to the Third A&R Plan (the Amendment) was adopted by the Board of Directors on

April

2018.

Such Amendment was approved by the stockholders at the Company’s

2018

Annual Meeting of Stockholders. Pursuant to the Amendment, the aggregate number of shares authorized for issuance under the Third A&R Plan was increased by

3,400,000

shares to

20,908,929.

Restricted Stock Units with a Market Condition (the Market Condition RSUs)

August 3, 2015,

the Compensation Committee of the Board of Directors of the Company approved and granted deferred stock awards of Market Condition RSUs (the

2015

Market Condition RSUs) to certain members of the Company’s management team under the Third A&R Plan. The vesting of these

2015

Market Condition RSUs was cliff-based and linked to the achievement of a relative total shareholder return of the Company’s common stock from

August 3, 2015

to the earlier of (i)

August 3, 2018

or (ii) upon a change of control (measured relative to the Russell

3000

index and based on the

-day trading average price before each such date). As of

August 3, 2018,

certain of the target total shareholder returns were achieved, and as a result,

69,667

of the

2015

Market Condition RSUs vested. The remaining

2015

Market Condition RSUs did

not

vest and were canceled.

2018,

the Compensation Committee of the Board of Directors of the Company approved and granted deferred stock awards of Market Condition RSUs (the

2018

Market Condition RSUs) to certain members of the Company’s management team under the Third A&R Plan. The vesting of the

2018

Market Condition RSUs is based on a graded-vesting schedule (

one

third

at the end of each year for

three

years) and linked to the achievement of a relative total shareholder return of the Company’s common stock from

May 24, 2018

to the earlier of (i)

May 24, 2019

or (ii) upon a change of control (measured relative to the NASDAQ Biotechnology index and based on the

-day trading average price before each such date).

2019,

the Compensation Committee of the Board of Directors of the Company approved and granted deferred stock awards of Market Condition RSUs (the

2019

Market Condition RSUs) to certain members of the Company’s management team under the Third A&R Plan. The vesting of the

2019

Market Condition RSUs is based on a graded-vesting schedule (

one

third

at the end of each year for

three

years) and linked to the achievement of a relative total shareholder return of the Company’s common stock from the

2019

Market Condition RSUs grant date to the earlier of (i) the anniversary date of the grant or (ii) upon a change of control (measured relative to the NASDAQ Biotechnology index and based on the

-day trading average price before each such date).

As of

December 31, 2019,

the target number of these restricted stock units that

may

be earned is

529,491

shares; the maximum amount is

150%

of the target number.

Stock-Based Payment Awards

The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC

718,

which requires it to recognize compensation expense for all stock-based payment awards made to employees and directors including stock options, restricted stock units, Market Condition RSUs and employee stock purchases related to the ESPP. The Company has elected as an accounting policy to account for forfeitures for service-based awards as they occur, with

adjustment for estimated forfeitures.

Stock option and restricted stock unit activity under the Company’s Third A&R Plan for the years ended

December 31, 2018

and

2019

were as follows:

	Stock Options					Restricted Stock Units					Market Condition RSU's
	Stock			Weighted		Restricted					Market
	Options			Average		Stock Units			Grant Date		Condition RSU's			Grant Date
	Outstanding			Exercise Price		Outstanding			Fair Value		Outstanding			Fair Value

Balance at December 31, 2017		3,780,244		$	3.95		1,796,927		$	2.69		164,127		$	4.81
Granted		104,585			4.48		639,126			4.31		156,944			4.19
Exercised		(1,696,255	)		3.50		-			-		-			-
Vested (RSUs)		-			-		(845,326	)		2.88		(69,667	)		4.81
Cancelled / forfeited		(231,842	)		4.96		(356,965	)		2.84		(134,460	)		4.63
Balance at December 31, 2018		1,956,732			4.25		1,233,762			3.36		116,944			4.19
Granted		943,424			3.28		1,652,720			2.31		605,005			1.98
Exercised		(3,750	)		2.98		-			-		-			-
Vested (RSUs)		-			-		(813,762	)		3.29		(3,778	)		4.19
Cancelled / forfeited		(630,284	)		3.96		(482,270	)		3.42		(188,680	)		4.18
Balance at December 31, 2019		2,266,122		$	3.93		1,590,450		$	2.27		529,491		$	1.67

Earnings per share

Basic earnings per share is based upon net income divided by the number of weighted average common shares outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, restricted stock units and Market Condition RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted earnings per share consists of the following:

	Year Ended December 31,
	2019		2018
Basic		37,813,580		36,453,126
Dillutive effect of equity awards		-		-
Diluted		37,813,580		36,453,126

Excluded from the shares used in calculating the diluted earnings per common share in the above table are options, restricted stock units and Market Condition RSUs of approximately

4,386,063

and

3,307,438

shares of common stock for the years ended

December 31, 2019

and

2018,

respectively, as the impact of these shares would be anti-dilutive.

The Company’s policy is to issue stock available from its registered but unissued stock pool through its transfer agent to satisfy stock option exercises and vesting of the restricted stock units.

The following table summarizes information concerning currently outstanding and exercisable options as of

December

31,

2019

(Aggregate Intrinsic Value, in thousands):

			Options Outstanding								Options Exercisable
					Weighted								Weighted
					Average		Weighted						Average		Weighted
Range of			Number		Remaining		Average		Aggregate		Shares		Remaining		Average		Aggregate
Exercise			Outstanding at		Contractual Life		Exercise		Intrinsic		Exercisable at		Contractual Life		Exercise		Intrinsic
Price			Dec. 31, 2019		in Years		Price		Value		Dec. 31, 2019		in Years		Price		Value

$1.78	-	2.59		234,399		6.48	$	2.14	$	213		94,069		1.94	$	2.57	$	45
2.60	-	2.94		208,414		9.52		2.84		44		10,000		7.25		2.60		5
2.95	-	3.49		264,571		8.00		3.23		-		148,400		7.45		3.27		-
3.50	-	3.92		305,839		7.32		3.74		-		166,431		5.76		3.70		-
3.93	-	4.08		65,849		1.42		4.04		-		65,849		1.42		4.04		-
4.09	-	4.17		355,625		4.41		4.12		-		355,625		4.41		4.12		-
4.18	-	4.38		370,000		3.93		4.30		-		370,000		3.93		4.30		-
4.39	-	5.39		141,550		5.56		4.99		-		126,550		5.22		5.04		-
5.40	-	5.54		174,875		5.18		5.51		-		174,875		5.18		5.51		-
5.55	-	5.75		145,000		5.65		5.58		-		137,500		5.49		5.57		-
$1.78	-	5.78		2,266,122		5.95	$	3.93	$	257		1,649,299		4.70	$	4.28	$	50

The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of

$3.05

as of

December

31,

2019,

which would have been received by the option holders had all option holders exercised their options as of that date. The aggregate intrinsic value of options exercised for the year ended

December 31, 2019

was

not

material. The aggregated intrinsic value of options exercised for the year ended

December 31, 2018

was approximately

$2.6

million. The total number of in-the-money options that were exercisable as of

December 31, 2019

was

189,069.

For the year ended

December 31, 2019,

the total compensation costs related to unvested awards

not

yet recognized is

$3.7

million and the weighted average period over which it is expected to be recognized is approximately

years.

Valuation and Expense Information under Stock-Based-Payment Accounting

Stock-based compensation expense related to stock options, restricted stock units, Market Condition RSU’s and the employee stock purchase plan for the years ended

December 31, 2019

and

2018

was allocated as follows:

	Year Ended December 31,
	2019		2018
	(in thousands)
Cost of product revenues	$	43	$	64
Sales and marketing		119		431
General and administrative		2,710		2,232
Research and development		162		167
Discontinued operations		-		150
Total stock-based compensation	$	3,034	$	3,044

The Company did

not

capitalize any stock-based compensation.

The weighted-average estimated fair value per share of stock options granted during

2019

and

2018

was

$1.40

and

$1.83,

respectively, using the Black Scholes option-pricing model with the following weighted-average assumptions:

	2019			2018
Volatility		48.11	%		43.28	%
Risk-free interest rate		2.12	%		2.84	%
Expected holding period (in years)		4.7			4.8
Dividend Yield		-	%		-	%

The weighted average fair value of the

2019

Market Condition RSUs during the year ended

December 31, 2019

was

$1.98.

The weighted average fair value of the

2018

Market Condition RSUs granted during the year ended

December 31, 2018

was

$4.19.

The following assumptions were used to estimate the fair value, using a Monte-Carlo valuation simulation, of the Market Condition RSUs granted during the year ended

December 31, 2018:

	2019			2018

Volatility		58.96	%		44.02	%
Risk-free interest rate		1.99	%		2.27	%
Correlation coefficient		23.59	%		0.07	%
Dividend yield		-	%		-	%

The Company used historical volatility to calculate the expected volatility as of

December 31, 2019.

Historical volatility was determined by calculating the mean reversion of the daily adjusted closing stock price. The risk-free interest rate assumption is based upon observed U.S. Treasury bill interest rates (risk-free) appropriate for the term of the Company’s stock options. The expected holding period of stock options represents the period of time options are expected to be outstanding and were based on historical experience. The vesting period ranges from

one

four

years and the contractual life is

ten

years.

Note 14 - Long Term Debt

12 Months Ended

Dec. 31, 2019

Long-term Debt [Text Block]

14.

Long Term Debt

January 22, 2018,

in connection with the closing of the Denville Transaction, the Company terminated the Third Amended and Restated Credit Agreement (the Credit Agreement), among the Company, Brown Brothers Harriman & Co. and each of the other lenders party thereto, and Bank of America, as administrative agent. All outstanding amounts under the agreement were repaid in full using a portion of the proceeds of the Denville Transaction. At the time of repayment, there was approximately

$11.9

million outstanding.

January 31, 2018,

the Company entered into a financing agreement by and among the Company and certain subsidiaries of the Company parties thereto, as borrowers (collectively, the Borrower), certain subsidiaries of the Company parties thereto, as guarantors, various lenders from time to time party thereto (the Lenders), and Cerberus Business Finance, LLC, as collateral agent and administrative agent for the Lenders (the Financing Agreement).

August 16, 2018,

the Company and Cerberus Business Finance, LLC entered into a First Amendment to the Financing Agreement, which such amendment modified certain provisions related to the borrowing base and reporting, among other things.

November 4, 2019,

the Company and Cerberus Business Finance, LLC entered into a Second Amendment to the Financing Agreement, which modified certain provisions effective as of

September 30, 2019

related to the Company’s quarterly leverage ratio financial covenant amongst other provisions.

The Financing Agreement provided for senior secured credit facilities (the Senior Secured Credit Facilities) comprised of a

$64.0

million term loan and up to a

$25.0

million revolving line of credit. The proceeds of the term loan and

$4.8

million of advances under the revolving line of credit were used to fund a portion of the DSI acquisition, and to pay fees and expenses related thereto and the closing of the Senior Secured Credit Facilities. In addition, the revolving facility is available for use by the Company and its subsidiaries for general corporate and working capital needs, and other purposes to the extent permitted by the Financing Agreement. The Senior Secured Credit Facilities matures in

2023.

Commencing on

March 31, 2018,

the outstanding term loans began to amortize in equal quarterly installments equal to

$0.4

million per quarter on such date and during each of the next

three

quarters thereafter,

$0.6

million per quarter during the next

four

quarters thereafter and

$0.8

million per quarter thereafter, with a balloon payment at maturity. Furthermore, within

ten

days of the Company’s delivery of its audited annual financial statements each year, the term loans are permanently reduced pursuant to certain mandatory prepayment events including an annual “excess cash flow sweep” of

50%

of the consolidated excess cash flow; provided that, in any fiscal year, any voluntary prepayments of the term loans shall be credited against the Company’s “excess cash flow” prepayment obligations on a dollar-for-dollar basis for such fiscal year. During the year ended

December 31, 2019,

the Company made an excess cash flow payment of

$4.0

million and a payment of

$1.0

million in connection with the release of an escrow amount associated with the Denville Transaction discussed in Note

as required by the Financing Agreement.

The obligations of the Borrower under the Senior Secured Credit Facilities are unconditionally guaranteed by the Company and certain of the Company’s existing and subsequently acquired or organized subsidiaries. The Senior Secured Credit Facilities and related guarantees are secured on a

first

-priority basis (subject to certain liens permitted under the Financing Agreement) by a lien on substantially all the tangible and intangible assets of the Borrower and the subsidiary guarantors, including all of the capital stock held by such obligors (subject to a

65%

limitation on pledges of capital stock of foreign subsidiaries), subject to certain exceptions.

Interest on all loans under the Senior Secured Credit Facilities is paid monthly. Borrowings under the Financing Agreement accrue interest at a per annum rate equal to, at the Borrower’s option, a base rate plus

4.75%

or a London Interbank Offered Rate (LIBOR) rate plus

6.25%.

The loans are also subject to a

1.25%

interest rate floor for LIBOR loans and a

4.25%

interest rate floor for base rate loans.

The Financing Agreement contains customary representations and warranties and affirmative covenants applicable to the Company and its subsidiaries and also contains certain restrictive covenants, including, among others, limitations on the incurrence of additional debt, liens on property, acquisitions and investments, loans and guarantees, mergers, consolidations, liquidations and dissolutions, asset sales, dividends and other payments in respect of the Company’s capital stock, prepayments of certain debt, transactions with affiliates and modifications of organizational documents, material contracts, affiliated practice agreements and certain debt agreements. The Financing Agreement contains customary events of default and is subject to covenant and working capital borrowing restrictions. The Company had available borrowing capacity under the revolving line of credit of

$8.7

million as of

December 31, 2019.

As of

December 31, 2019,

the weighted effective interest rate, net of the impact of the Company’s interest rate swap, on its borrowings was

8.48%.

The carrying value of the debt approximates fair value because the interest rate under the obligation approximates market rates of interest available to the Company for similar instruments.

As of

December 31, 2019,

and

December 31, 2018,

the Company’s borrowings were comprised of:

	December 31,
	2019			2018
	(in thousands)
Long-term debt:
Term loan	$	54,997			62,400
Revolving line		-			-
Total unamortized deferred financing costs		(1,180	)		(1,605	)
Total debt		53,817			60,795
Less: current installments		(3,200	)		(2,400	)
Less: excess cash flow sweep		(4,093	)		(3,983	)
Current unamortized deferred financing costs		393			401
Long-term debt	$	46,917		$	54,813

The aggregate amounts of debt maturing during the next

five

years are as follows:

	(in thousands)

2020	$	7,293
2021		3,200
2022		3,200
2023		41,304
Total	$	54,997

Note 15 - Derivatives

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Text Block]

15.

Derivatives

The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does

not

enter into derivative instruments for any purpose other than cash flow hedging. The Company does

not

speculate using derivative instruments.

By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, the Company is

not

exposed to the counterparty’s credit risk in those circumstances. The Company minimizes counterparty credit risk in derivative instruments by entering into transactions with carefully selected major financial institutions based upon their credit profile.

Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that

may

be undertaken.

The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that

may

adversely impact expected future cash flows and by evaluating hedging opportunities. The Company maintains risk management control systems to monitor interest rate risk attributable to both the Company’s outstanding and forecasted debt obligations as well as the Company’s offsetting hedge positions. The risk management control systems involve the use of analytical techniques, including cash flow sensitivity analysis, to estimate the expected impact of changes in interest rates on the Company’s future cash flows.

The Company uses variable-rate LIBOR debt to finance its operations. The debt obligations expose the Company to variability in interest payments due to changes in interest rates. Management believes that it is prudent to limit the variability of a portion of its interest payments. To meet this objective, management enters into LIBOR based interest rate swap agreements to manage fluctuations in cash flows resulting from changes in the benchmark interest rate of LIBOR. These swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives LIBOR based variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the notional amount of its debt hedged.

As disclosed in Note

14,

January 31, 2018,

the Company entered into a Financing Agreement comprised of a

$64.0

million term loan and up to a

$25.0

million revolving line of credit. Shortly after entering into this Financing Agreement, the Company entered into an interest rate swap contract with PNC Bank with a notional amount of

$36.0

million and a termination date of

January 1, 2023

in order to hedge the risk of changes in the effective benchmark interest rate (LIBOR) associated with the Company’s Term Loan. The swap contract converted specific variable-rate debt into fixed-rate debt and fixed the LIBOR rate associated with a portion of the term loan under the Financing Agreement at

2.72%.

The interest rate swap was designated as a cash flow hedge instrument in accordance with ASC

815

“Derivatives and Hedging”.

The following table presents the notional amount and fair value of the Company’s derivative instruments as of

December 31, 2019

and

December 31, 2018.

		December 31, 2019
		Notional Amount		Fair Value (a)
Derivatives instruments	Balance sheet classification	(in thousands)
Interest rate swaps	Other long term liabilities	$	28,821	$	(603	)

		December 31, 2018
		Notional Amount		Fair Value (a)
Derivatives instruments	Balance sheet classification	(in thousands)
Interest rate swaps	Other long term liabilities	$	34,090	$	(170	)

(a) See Note

for the fair value measurements related to these financial instruments.

All of the Company’s derivative instruments are designated as hedging instruments. The Company has structured its interest rate swap agreements to be

100%

effective and as a result, there was

impact to earnings resulting from hedge ineffectiveness. Changes in the fair value of interest rate swaps designated as hedging instruments that effectively offset the variability of cash flows associated with variable-rate, long-term debt obligations are reported in accumulated other comprehensive income (AOCI). These amounts subsequently are reclassified into interest expense as a yield adjustment of the hedged interest payments in the same period in which the related interest affects earnings. The Company’s interest rate swap agreement was deemed to be fully effective in accordance with ASC

815,

and, as such, unrealized gains and losses related to these derivatives were recorded as AOCI.

The following table summarizes the effect of derivatives designated as cash flow hedging instruments and their classification within comprehensive loss for the years ended

December 31, 2019

and

2018:

Derivatives in Hedging Relationships	Amount of gain (loss) recognized in OCI on derivative (effective portion)
	Year Ended December 31,
	2019			2018
	(in thousands)
Interest rate swaps	$	(572	)	$	(343	)

The following table summarizes the reclassifications out of accumulated other comprehensive loss for the year ended

December 31, 2019

and

2018:

Details about AOCI Components	Amount reclassified from AOCI into income (effective portion)
	Year Ended December 31,				Location of amount reclassified
	2019		2018		into income (effective portion)
		(in thousands)
Interest rate swaps	$	139	$	136	Interest expense

As of

December 31, 2019,

$0.3

million of deferred losses on derivative instruments accumulated in AOCI are expected to be reclassified to earnings during the next

twelve

months. Transactions and events expected to occur over the next

twelve

months that will necessitate reclassifying these derivatives’ losses to earnings include the repricing of variable-rate debt.

Note 16 - Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Text Block]

16.

Fair Value Measurements

Fair value measurement is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is established, which prioritizes the inputs used in measuring fair value into

three

broad levels as follows:

Level

1—Quoted

prices in active markets for identical assets or liabilities.

Level

2—Inputs,

other than the quoted prices in active markets, that are observable either directly or indirectly.

Level

3—Unobservable

inputs based on the Company’s own assumptions.

The following tables present the fair value hierarchy for those assets or liabilities measured at fair value on a recurring basis:

	Fair Value as of December 31, 2019
(In thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities):
Interest rate swap agreements	$	-	$	(603	)	$	-	$	(603	)

	Fair Value as of December 31, 2018
(In thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities):
Interest rate swap agreements	$	-	$	(170	)	$	-	$	(170	)

The Company uses the market approach technique to value its financial liabilities. The Company’s financial assets and liabilities carried at fair value include derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s interest rate swap agreements was based on LIBOR yield curves at the reporting date.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Note 17 - Other Current Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Expenses Disclosure [Text Block]

17.

Other current liabilities

Other current liabilities consist of:

	December 31,
	2019		2018
	(in thousands)
Compensation and payroll	$	2,554	$	2,899
Professional fees		395		536
Warranty costs		252		391
Local taxes, including VAT		345		423
Customer related costs		963		1,242
Interest		425		480
Other		1,157		1,379
Total	$	6,091	$	7,350

Note 18 - Revenues

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Text Block]

18.

Revenues

The following table represents a disaggregation of revenue from contracts with customers. Revenue originating from the following geographic areas for the years ended

December 31, 2019

and

2018

consist of:

	Year Ended December 31, 2019
	(in thousands)
	United States		United Kingdom		Germany		Rest of the world		Total
Instruments, equipment, software and accessories	$	78,196	$	10,607	$	13,359	$	8,058	$	110,220
Service, maintenance and warranty contracts		4,742		819		313		82		5,956
Total revenues	$	82,938	$	11,426	$	13,672	$	8,140	$	116,176

	Year Ended December 31, 2018
	(in thousands)
	United States		United Kingdom		Germany		Rest of the world		Total
Instruments, equipment, software and accessories	$	79,614	$	13,690	$	13,193	$	8,571	$	115,068
Service, maintenance and warranty contracts		4,438		832		366		70		5,706
Total revenues	$	84,052	$	14,522	$	13,559	$	8,641	$	120,774

Deferred revenue

The Company had approximately

$3.9

million and

$3.8

million in deferred revenue from service contracts and advance payments as of

December 31, 2019

and

2018,

respectively

. Changes in deferred revenue from service contracts and advance payments from customers during the period were as follows:

	Year Ended December 31, 2019
	(in thousands)
	Service Contracts			Customer Advances			Total
Balance, beginning of period	$	1,659		$	2,161		$	3,820
Deferral of revenue		2,152			1,095			3,247
Recognition of deferred revenue		(2,233	)		(894	)		(3,127	)
Effect of foreign currency translation		9			-			9
Balance, end of period	$	1,587		$	2,362		$	3,949

	Year Ended December 31, 2018
	(in thousands)
	Service Contracts			Customer Advances			Total
Balance, beginning of period	$	505		$	-		$	505
Addition due to business combination		848			2,128			2,976
Deferral of revenue		4,305			1,210			5,515
Recognition of deferred revenue		(3,984	)		(1,177	)		(5,161	)
Effect of foreign currency translation		(15	)		-			(15	)
Balance, end of period	$	1,659		$	2,161		$	3,820

Allowance for Doubtful Accounts

Allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. A rollforward of allowance for doubtful accounts is as follows:

	Year Ended December 31,
	2019			2018
	(in thousands)
Balance, beginning of period	$	332		$	193
Addition due to business combination		-			103
Bad debt expense		288			25
Charge-offs and other recoveries		(293	)		12
Effect of foreign currency translation		(2	)		(1	)
Balance, end of period	$	325		$	332

Concentrations

customer accounted for more than

10%

of the revenues for the years ended

December 31, 2019,

and

2018.

December

31,

2019

and

2018,

customer accounted for more than

10%

of net accounts receivable.

Note 19 - Warranties

12 Months Ended

Dec. 31, 2019

Product Warranty Disclosure [Text Block]

19.

Warranties

Warranties are estimated and accrued at the time revenues are recorded. A rollforward of the Company’s product warranty accrual is as follows:

	Beginning				(Charges)\			Ending
	Balance		Additions		Credits			Balance
	(in thousands)
Year ended December 31, 2018	$	246		182		(37	)	$	391
Year ended December 31, 2019	$	391		10		(149	)	$	252

Note 20 - Income Tax

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Text Block]

20.

Income Tax

Income tax from continuing operations was a benefit of approximately

$0.8

million and

$3.7

million for the years ended

December 31, 2019

and

2018,

respectively. The effective tax rate on continuing operations was

14.8%

for the year ended

December 31, 2019

compared with

46.1%

for the same period in

2018.

The difference between the Company’s effective tax rate year over year was primarily attributable to changes in the mix of pre-tax income and losses at individual subsidiaries as well as the impact of stock compensation deductions and windfalls in

2018.

For the year ended

December 31, 2019,

there was

income tax expense or benefit recorded for discontinued operations. For the year ended

December 31, 2018,

income tax benefit for discontinued operations was

$0.4

million.

Income tax expense attributable to income from continued operations for years ended

December 31, 2019

and

2018

consisted of:

	Year Ended December 31,
	2019			2018
	(in thousands)
Current income tax (benefit) expense:
Federal and state	$	(707	)	$	(191	)
Foreign		290			279
		(417	)		88
Deferred income tax (benefit) expense:
Federal and state		(281	)		(3,552	)
Foreign		(117	)		(212	)
		(398	)		(3,764	)
Total income tax benefit from continuing operations	$	(815	)	$	(3,676	)

The total benefit from income taxes included in the statement of operations is as follows:

	Year Ended December 31,
	2019			2018
	(in thousands)
Continuing operations	$	(815	)	$	(3,676	)
Discontinued operations		-			(441	)
Total income tax benefit	$	(815	)	$	(4,117	)

Income tax benefit for the years ended

December 31, 2019

and

2018

differed from the amount computed by applying the U.S. federal income tax rate of

21%

to pre-tax continuing operations income as a result of the following:

	Year Ended December 31,
	2019			2018
	(in thousands)
Computed "expected" income tax benefit	$	(1,161	)	$	(1,674	)
Increase (decrease) in income taxes resulting from:
Permanent differences, net		241			(117	)
Foreign tax rate differential		42			(11	)
State income taxes, net of federal income tax benefit		(74	)		(121	)
Non-deductible stock compensation expense		205			(329	)
Acquisition costs		3			438
Tax credits		220			(242	)
Change in reserve for uncertain tax position		(111	)		203
Impact of change to prior year tax accruals		314			100
Change in valuation allowance allocated to income tax benefit		(578	)		(1,850	)
Other		84			(73	)
Total income tax benefit	$	(815	)	$	(3,676	)

The Company’s policy is to account for Global Intangible Low-Taxed income (GILTI) as a period cost.

Income tax (benefit) expense is based on the following pre-tax income from continuing operations for the years ended

December 31, 2019

and

2018:

	Year Ended December 31,
	2019				2018
		(in thousands)
Domestic	$	(5,616	)	$	(9,034	)
Foreign		114			1,059
Total	$	(5,502	)	$	(7,975	)

The tax effects of temporary differences that give rise to significant components of the deferred tax assets and deferred tax liabilities at

December

31,

2019

and

2018

are as follows :

	December 31,
	2019			2018
	(in thousands)
Deferred income tax assets:
Inventory	$	1,079		$	1,147
Operating loss and credit carryforwards		18,802			20,095
Accrued expenses		654			1,037
Deferred interest expense		1,475			655
Stock compensation		1,011			999
Lease liability		2,081			-
Other assets		223			339
Total gross deferred assets		25,325			24,272
Less: valuation allowance		(13,745	)		(13,899	)
Deferred tax assets	$	11,580		$	10,373

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	2,048		$	1,975
Definite-lived intangible assets		9,168			10,221
Right-of-use asset		1,580			-
Other liabilities		507			267
Total deferred tax liabilities		13,303			12,463
Deferred income tax liability, net	$	(1,723	)	$	(2,090	)

Certain prior year amounts in the above table have been reclassified for consistency with the current year presentation. These reclassifications had

effect on the Company’s consolidated financial statements.

Deferred income tax assets and liabilities by classification on the consolidated balance sheets were as follows:

	December 31,
	2019			2018
	(in thousands)
Deferred income tax assets (included in other long-term assets)	$	251		$	211
Deferred income tax liabilities		(1,974	)		(2,301	)
Deferred income tax liability, net	$	(1,723	)	$	(2,090	)

As of

December

31,

2019

and

2018,

the Company maintained a total valuation allowance of

$13.7

million and

$13.9

million, respectively, which relates to foreign, federal, and state deferred tax assets in both years. The valuation allowance is based on estimates of taxable income in each of the jurisdictions in which we operate and the period over which our deferred tax assets will be recoverable. The net change in total valuation allowance for each of the years ended

December 31, 2019

and

December 31, 2018

was a decrease of $(

0.2

) million and an increase of

$2.5

million, respectively. The movement in the valuation allowance in

2019

is primarily due to a change in estimate of the realizability of certain U.S. deferred tax assets offset by changes in UK pension asset and the expiration of U.S. state credits with full valuation allowances. The movement in the valuation allowance in

2018

is primarily due to the finalization of purchase accounting for the DSI acquisition and its impact on the valuation allowance related to certain U.S. deferred tax assets.

December

31,

2019,

the Company had U.S. federal net operating loss carryforwards of

$27.2

million, a portion of which (

$21.9

million) expires between

2020

and

2037;

the remainder have an unlimited carryforward period. The Company’s state net operating loss carryforwards of

$17.8

million expire between

2020

and

2037.

The Company has net operating loss carryforwards of

$5.5

million in certain foreign jurisdictions, partially offset by valuation allowances, as well as

$0.3

million non-U.S. research and development credits. The Company has foreign tax credits of

$0.2

million which begin to expire in

2020,

as well as

$8.7

million of research and development tax credit carryforwards which begin to expire in

2020.

Approximately

$1.0

million of the research and development tax credit carryforwards are offset by a reserve for uncertain tax positions. The Company had

$0.8

million of alternative minimum tax credit carryforwards which are

not

subject to expiration and become refundable under the

2017

Tax Cuts and Jobs Act beginning in

2021.

In addition, the Company had a total of

$3.2

million of state investment tax credit carryforwards, research and development tax credit carryforwards, and EZ credit carryforwards, which begin to expire in

2020.

The Internal Revenue Code (IRC) limits the amounts of net operating loss carryforwards or credits that a company

may

use in any

one

year in the event of a change in ownership under IRC Sections

382

383.

As a result of the DSI acquisition as well as other acquisitions in prior years, certain losses and credit carryforwards are subject to these limitations. The Company has provided a full or partial valuation allowance for the portion of state NOLs and federal and state credit carryforwards the Company expects will expire before use.

As of

December 31, 2019

and

December 31, 2018,

cash and cash equivalents held by the Company’s foreign subsidiaries was

$3.5

million and

$3.2

million, respectively. A

s of

December 31, 2019,

the Company maintained its indefinite reinvestment assertion, providing that all foreign cash balances above the level required for local operating expenses would be repatriated to the U.S.

As a result of the

2017

Tax Cuts and Jobs Act, post-

2017

dividends from qualifying Controlled Foreign Corporations are

longer taxed in the U.S. However, any dividends to the U.S., as well as dividends between foreign subsidiaries, must still be assessed for withholding tax liability as well as foreign and state income tax liability. As a result of the Company’s assertion, the Company has determined the potential income tax liability related to available cash balances at foreign subsidiaries to be immaterial in

2019

and

2018.

An accrued withholding tax liability of

$55

thousand and

$38

thousand was recorded as of

December 31, 2019

and

December 31, 2018,

respectively, related to amounts determined to be available for repatriation.

December 31, 2019

and

2018

the amount of unrecognized tax benefits that would affect the Company’s effective tax rate are shown in the table below:

	(in thousands)
Balance at December 31, 2017	$	323
Release due to expiration of statute of limitations positions of prior years		(94	)
Additions based on tax positions of prior years		242
Additions based on tax positions of acquired entities		1,389
Balance at December 31, 2018		1,860
Additions based on tax positions of prior years		68
Decreases based on tax positions of prior years		(133	)
Additions based on tax position of current year		21
Settlements		(398	)
Decreases based on tax positions of acquired entities		(65	)
Balance at December 31, 2019	$	1,353

2018,

the Company recorded a reserve of

$0.2

million related to upcoming audits. Additionally, reserves of

$1.4

million were recorded to purchase accounting based on tax positions of acquired entities, including

$0.8

million for credits and

$0.5

million related to state income tax issues. In

2019,

a foreign income tax audit was closed without payment and a reserve for

$0.1

million was reversed, and the Company settled U.S. state income tax liabilities of

$0.4

million. In addition, the Company reduced the reserve on tax positions of acquired entities by

$0.1

million and recorded a reserve of

$0.1

million related to upcoming audits.

The Company anticipates that the total unrecognized tax benefits will be reduced within the next

months by approximately

$32

thousand due to the expected settlement of certain positions of acquired entities. The Company classifies interest and penalties related to unrecognized tax benefits as a component of income tax expense. At

December

31,

2019

and at

December 31, 2018,

the Company had accrued interest and penalties of

$0.1

million and

$0.1

million respectively. During

2019

and

2018,

the Company recognized a net expense of

$26

thousand and

$31

thousand, respectively, for interest and penalties in its total tax provision.

The Company or

one

of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With few exceptions, the Company is

longer subject to income tax examinations by tax authorities in foreign jurisdictions for years before

2015.

In the U.S., the Company's net operating loss and tax credit carryforward amounts remain subject to federal and state examination for tax years starting in

2000

as a result of tax losses incurred in prior years. There are currently

pending federal or state tax examinations. The Company is subject to audits by various foreign taxing jurisdictions. At

December 31, 2019,

the Company anticipates an income tax examination to begin in

2020

at a foreign subsidiary for which reserves have been recorded.

Note 21 - Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Text Block]

21.

Commitments and Contingent Liabilities

April 14, 2017,

representatives for the estate of an individual plaintiff filed a wrongful death complaint with the Suffolk Superior Court, in the County of Suffolk, Massachusetts, against the Company and other defendants, including Biostage, Inc. (f/k/a Harvard Apparatus Regenerative Technology, Inc.), our former subsidiary that was spun off in

2013,

as well as another

third

party. The complaint seeks payment for an unspecified amount of damages and alleges that the plaintiff sustained terminal injuries allegedly caused by products, including synthetic trachea scaffolds and bioreactors, provided by certain of the named defendants and utilized in connection with surgeries performed by

third

parties in

2012

and

2013.

The litigation is at an early stage and the Company intends to vigorously defend this case and has contacted its liability insurance carrier to request defense and indemnification of any losses incurred in connection with this lawsuit. While the Company believes that such claim is without merit, the Company is unable to predict the ultimate outcome of this litigation.

We are involved in various other claims and legal proceedings arising in the ordinary course of business. In our opinion after consultation with legal counsel, the ultimate disposition of such proceedings is

not

likely to have a material adverse effect on our business, financial condition, results of operations or cash flows. We have

not

accrued for loss contingencies relating to any such matters because we believe that, although unfavorable outcomes in the proceedings are possible, they are

not

considered by management to be probable and reasonably estimable. If

one

or more of these matters are resolved in a manner adverse to our company, the impact on our business, financial condition, results of operations and cash flows could be material.

Note 22 - Segment and Related Information

12 Months Ended

Dec. 31, 2019

Segment Reporting Disclosure [Text Block]

22.

Segment and Related Information

Operating segments are determined by products and services provided by each segment, internal organization structure, the manner in which operations are managed, criteria used by the Chief Operating Decision Maker, or CODM, to assess the segment performance, as well as resource allocation and the availability of discrete financial information. The Company has

one

operating segment and therefore segment results and consolidated results are the same.

Refer to footnote

for a summary of revenue by geographic area of origin.

The following tables summarize additional selected financial information of the Company’s continuing operations by geographic location:

Long-lived assets by geographic area consist of the following:

	December 31,
	2019		2018
	(in thousands)
United States	$	35,409	$	42,222
Germany		4,142		5,022
United Kingdom		320		585
Rest of the world		2,176		2,601
Total long-lived assets (a)	$	42,047	$	50,430

Net assets by geographic area consist of the following:

	December 31,
	2019		2018
	(in thousands)
United States	$	37,726	$	38,921
Germany		17,340		17,261
United Kingdom		11,254		10,473
Rest of the world		15,374		16,069
Total net assets	$	81,694	$	82,724

(a)

Total long-lived assets consist of property, plant and equipment, net and amortizable intangible assets, net.

Note 23 - Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information [Text Block]

23.

Quarterly Financial Information (unaudited)

Statement of Operations Data:

	First			Second			Third			Fourth			Fiscal
2019	Quarter			Quarter			Quarter			Quarter			Year
	(in thousands, except per share data)
Revenues	$	28,202		$	29,584		$	27,418		$	30,972		$	116,176
Cost of revenues		12,048			13,629			12,439			13,738			51,854
Gross profit		16,154			15,955			14,979			17,234			64,322
Total operating expenses		16,273			15,727			16,344			15,601			63,945
Operating (loss) income		(119	)		228			(1,365	)		1,633			377
Other expense, net		(1,675	)		(1,360	)		(1,309	)		(1,535	)		(5,879	)
(Loss) income before income taxes		(1,794	)		(1,132	)		(2,674	)		98			(5,502	)
Income tax expense (benefit)		576			(885	)		(54	)		(452	)		(815	)
Net (loss) income	$	(2,370	)	$	(247	)	$	(2,620	)	$	550		$	(4,687	)

(Loss) earnings per share:
Basic (loss) earnings per common share	$	(0.06	)	$	(0.01	)	$	(0.07	)	$	0.02		$	(0.12	)

Diluted (loss) earnings per common share	$	(0.06	)	$	(0.01	)	$	(0.07	)	$	0.02		$	(0.12	)

The

fourth

quarter includes certain true ups in income tax due to the reassessment of valuation allowances in association with certain tax assets.

Statement of Operations Data:

	First			Second			Third			Fourth			Fiscal
2018	Quarter			Quarter			Quarter			Quarter			Year
	(in thousands, except per share data)
Revenues	$	26,759		$	31,522		$	28,635		$	33,858		$	120,774
Cost of revenues		13,490			16,167			12,818			15,118			57,593
Gross profit		13,269			15,355			15,817			18,740			63,181
Total operating expenses		14,535			15,737			14,927			16,998			62,197
Operating (loss) income		(1,266	)		(382	)		890			1,742			984
Other expense, net		(3,979	)		(1,485	)		(1,798	)		(1,697	)		(8,959	)
(Loss) income from continuing operations before income taxes		(5,245	)		(1,867	)		(908	)		45			(7,975	)
Income tax expense (benefit)		605			(369	)		(652	)		(3,260	)		(3,676	)
Net (loss) income from continuing operations		(5,850	)		(1,498	)		(256	)		3,305			(4,299	)
Income (loss) from discontinued operations, net of tax		1,786			34			-			(443	)		1,377
Net (loss) income	$	(4,064	)	$	(1,464	)	$	(256	)	$	2,862		$	(2,922	)

(Loss) earnings per share:
Basic (loss) earnings per common share from continuing operations	$	(0.16	)	$	(0.04	)	$	(0.01	)	$	0.09		$	(0.12	)
Basic earnings (loss) per common share from discontinued operations		0.05			-			-			(0.01	)		0.04
Basic (loss) earnings per common share	$	(0.11	)	$	(0.04	)	$	(0.01	)	$	0.08		$	(0.08	)

Diluted (loss) earnings per common share from continuing operations	$	(0.16	)	$	(0.04	)	$	(0.01	)	$	0.09		$	(0.12	)
Diluted earnings (loss) per common share from discontinued operations		0.05			-			-			(0.01	)		0.04
Diluted (loss) earnings per common share	$	(0.11	)	$	(0.04	)	$	(0.01	)	$	0.08		$	(0.08	)

The

fourth

quarter includes certain true ups in income tax due to the reassessment of valuation allowances in association with certain tax assets and in combination with deferred tax attributes of the DSI acquisition.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

(a)	Principles of Consolidation

Use of Estimates, Policy [Policy Text Block]

(b)	Use of Estimates

Cash and Cash Equivalents, Policy [Policy Text Block]

(c)	Cash and Cash Equivalents

The Company considers all highly liquid instruments with original maturities of

three

months or less to be cash equivalents. Cash and cash equivalents include cash on hand and amounts due from banks. The Company maintains a portion of its cash in bank deposits, which at times,

may

exceed federally insured limits. The Company has

not

experienced any losses in such accounts. The Company does

not

believe it is exposed to any significant risk with respect to these accounts.

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]

(d)	Allowance for Doubtful Accounts

may

affect a customer’s ability to pay and other currently available evidence.

Inventory, Policy [Policy Text Block]

(e)	Inventories

The Company values its inventories at the lower of the actual cost to purchase (

first

-in,

first

Property, Plant and Equipment, Policy [Policy Text Block]

(f)	Property, Plant and Equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows:

Machinery and equipment	3	-	10	years
Computer equipment and software	3	-	7	years
Furniture and fixtures	5	-	10	years

Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.

Lessee, Leases [Policy Text Block]

(g)

Leases

The Company accounts for its leases in accordance with ASC

842

months or less are

not

recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term.

not

Income Tax, Policy [Policy Text Block]

(h)	Income Taxes

The Company recognizes the effect of income tax positions only if those positions are more likely than

not

of being sustained. Recognized income tax positions are measured at the largest amount that is more than

50%

likely of being realized. Changes in recognition are reflected in the period in which the judgement occurs.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

(i)	Foreign Currency Translation

Earnings Per Share, Policy [Policy Text Block]

(j)	Earnings per Share

Comprehensive Income (Loss) [Policy Text Block]

(k)	Comprehensive (Loss) Income

The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)

220,

“Comprehensive Income”. FASB ASC

220

Revenue from Contract with Customer [Policy Text Block]

(l)	Revenue Recognition

Nature of contracts and customers

Performance obligations

Contracts with customers

may

contain multiple promises such as delivery of hardware, software, professional services or post-contract support services. These promises are accounted for as separate performance obligations if

not

materially differ from the stated price in the contract. In general, the Company’s list prices are indicative of standalone selling price.

may

return an implantable monitor to the Company after use, and if the returned monitor can be reprocessed and resold, they

may,

obligation in connection with the initial sale to sell replacement implantable monitors at any future date under any fixed terms and

may

refuse returned implantable monitors that cannot be recovered or are obsolete. The Company has concluded that the offer to its customers that they

may

purchase a discounted product in the future is

not

a material right based on the applicable guidance within ASC

606.

not

one

year. The period over which service revenues is recognized is generally less than

one

month.

Revenues expected to be recognized related to any and all remaining performance obligations are generally expected to be recognized in

one

year or less, as the majority of the Company's contracts have a term of less than

one

year.

Variable Consideration

not

occur when the uncertainty associated with the variable consideration is subsequently resolved. Variable consideration, and its impact on the Company’s revenue recognition, was

not

material in any of the periods presented.

The Company’s payment terms are generally from

zero

sixty

Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues.

Deferred revenue

one

year.

not

represent a significant financing component as the customer can exercise their discretion as to when they can obtain the products that they have made a prepayment for.

not

acquired prior to the termination of the contract period.

Disaggregation of revenue

Refer to Note

for revenue disaggregated by type and by geographic region as well as further information about the deferred revenue balances.

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

(m)	Valuation of Identifiable Intangible Assets Acquired in Business Combinations

not

December 31, 2019,

years,

years and

years, respectively.

Goodwill and Intangible Assets, Policy [Policy Text Block]

(n)	Goodwill and Other Intangible Assets

Goodwill and unamortizable intangible assets acquired in a business combination and determined to have an indefinite useful life are

not

350,

“Intangibles—Goodwill and Other”.

For the purpose of its goodwill analysis, the Company has

one

reporting unit. The Company conducted its annual impairment analysis in the

fourth

quarter of fiscal year

2019.

The goodwill impairment test is a

two

-step process. The

first

step of the impairment analysis compares the Company’s fair value to its carrying value to determine if there is any indication of impairment. Step

two

December 31, 2019,

the fair value of the Company significantly exceeded the carrying value. The Company concluded that

none

of its goodwill was impaired.

The Company evaluates indefinite-lived intangible assets for impairment annually and when events occur, or circumstances change that

may

for further details regarding impairment of indefinite-lived intangible assets.

Impairment of Long Lived Assets [Policy Text Block ]

(o)	Impairment of Long-Lived Assets

The Company assesses recoverability of its long-lived assets that are held for use, such as property, plant and equipment and amortizable intangible assets in accordance with FASB ASC

360,

“Property, Plant and Equipment” when events or changes in circumstances indicate that the carrying amount of an asset or asset group

may

not

December 31, 2019,

the Company concluded that

none

of its long-lived assets were impaired.

Derivatives, Policy [Policy Text Block]

(p)	Derivatives

The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does

not

enter into derivative instruments for any purpose other than cash flow hedging. The Company does

not

The Company discontinues hedge accounting prospectively when it determines that the derivative is

not

probable of occurring, or management determines to remove the designation of the cash flow hedge.

not

occur, the Company discontinues hedge accounting and recognizes immediately in earnings gains and losses that were accumulated in other comprehensive income related to the hedging relationship.

Fair Value of Financial Instruments, Policy [Policy Text Block]

(q)	Fair Value of Financial Instruments

Financial reporting standards define a fair value hierarchy that consists of

three

levels:

Level

includes instruments for which quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.

Level

includes instruments for which the valuations are based on quoted prices for similar assets or liabilities, quoted prices in markets that are

not

active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

Level

includes valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Share-based Payment Arrangement [Policy Text Block]

(r)	Stock-based Compensation

The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC

718,

2000

not

limited to its expected stock price volatility over the term of the awards and actual and projected stock option exercise behaviors.

one

four

years. Unvested restricted stock units are forfeited in the event of termination of employment with the Company.

Stock-based compensation expense recognized under FASB ASC

718

for the years ended

December 31, 2019

and

2018

for further details.

New Accounting Pronouncements, Policy [Policy Text Block]

(s)	Recent Accounting Pronouncements

Accounting Pronouncements to be Adopted

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments—Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments,

may

result in the earlier recognition of allowances for losses. The FASB issued several ASUs after ASU

2016

to clarify implementation guidance and to provide transition relief for certain entities. ASU

2016

is effective for the Company for fiscal years beginning after

December 15, 2022,

with early adoption permitted. The Company is evaluating the impact of adopting ASU

2016

and related amendments will have on its consolidated financial position, results of operations and cash flows.

August 2018,

the FASB issued ASU

No.

2018

14,

Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans

, which amends ASC

715

to add, remove and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The ASU is effective for public entities for fiscal years beginning after

December 15, 2020,

with early adoption permitted. Management has

not

yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements.

December 2019,

the FASB issued ASU

2019

12,

Income Taxes (Topic

740

): Simplifying the Accounting for Income Taxes

2019

also amends other aspects of the guidance to reduce complexity in certain areas. ASU

2019

will become effective for the Company on

January 1, 2021.

Early adoption is permitted. The Company is evaluating the impact of adopting this guidance to its financial statements and related disclosures.

Accounting Pronouncements Recently Adopted

August 2017,

the FASB issued ASU

No.

2017

12,

Derivatives and Hedging (Topic

815

) which amends the hedge accounting recognition and presentation requirements in ASC

815,

Derivatives and Hedging. The Board’s objectives in issuing the ASU are to (

December 15, 2018.

The Company adopted this guidance as of

January 1, 2019,

and it did

not

have a material impact on its consolidated financial position, results of operations and cash flows.

February 2016,

the FASB issued ASU

No.

2016

02,

months. The update is effective for fiscal years beginning after

December 15, 2018.

January 1, 2019.

Under this expedient, which is a “current-period adjustment method,” the Company applied ASC

842

as of

January 1. 2019,

and recognized operating lease liabilities of

$11.7

million and right of use assets of

$9.4

million for all leases with lease terms of more than

months. There was

impact to retained earnings as of that date. In addition, the Company adopted the guidance by electing the following practical expedients: (

) the Company did

not

reassess whether any expired or existing contracts contained leases, (

) the Company did

not

reassess the lease classification for any expired or existing leases, and (

12.

Discontinued Operations, Policy [Policy Text Block]

(t)	Discontinued Operation

As disclosed in Note

January 22, 2018,

205

–

Presentation of Financial Statements - Discontinued Operations,

the operating results of Denville for the year ended

December 31, 2018

has been presented in discontinued operations in the consolidated statements of operations. These adjustments had

Reclassification, Policy [Policy Text Block]

(u)	Prior Period Financial Statement Correction of Immaterial Error

During the quarter ended

March 31, 2019,

the Company identified an immaterial misclassification error in the Company’s consolidated balance sheet as of

December

31,

2018.

$4.0

million, related to the classification of the Company’s excess cash flow payment made to its lenders during the month ended

April 30, 2019

as long term instead of current on its consolidated balance sheet at

December 31, 2018.

The misclassification had

impact on the total reported debt. Refer to footnote

for further details. The Company assessed the materiality of this error on the financial statements for prior periods in accordance with the SEC Staff Accounting Bulletin (SAB)

No.

99,

Materiality, codified in Accounting Standards Codification (ASC)

250,

Presentation of Financial Statements, and concluded that it was

not

December

31,

2018

with

impact on total reported debt.

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment, Useful Lives [Table Text Block]

Machinery and equipment	3	-	10	years
Computer equipment and software	3	-	7	years
Furniture and fixtures	5	-	10	years

Note 3 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Foreign currency			Derivatives
	translation			qualifying as			Defined benefit
(in thousands)	adjustments			hedges			pension plans			Total

Balance at December 31, 2017	$	(9,755	)	$	37		$	(958	)	$	(10,676	)

Other comprehensive (loss) income before reclassifications		(2,875	)		(343	)		(49	)		(3,267	)
Amounts reclassified from AOCI		-			136			275			411
Net other comprehensive (loss) income		(2,875	)		(207	)		226			(2,856	)

Balance at December 31, 2018	$	(12,630	)	$	(170	)	$	(732	)	$	(13,532	)

Other comprehensive income (loss) before reclassifications		(543	)		(572	)		1,258			143
Amounts reclassified from AOCI		-			139			561			700
Net other comprehensive (loss) income		(543	)		(433	)		1,819			843

Balance at December 31, 2019	$	(13,173	)	$	(603	)	$	1,087		$	(12,689	)

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

	Affected line item in the	Year Ended December 31,
(in thousands)	Statements of Operations	2019		2018
Amounts Reclassified From AOCI
Derivatives qualifying as hedges
Realized loss on derivatives qualifying as hedges	Interest expense, net	$	139	$	136
Income tax	Income tax (benefit) expense		-		-
			139		136
Defined benefit pension plans
Amortization of net losses included in net periodic pension costs	General and administrative expenses		561		331
Income tax	Income tax (benefit) expense		-		(56	)
			561		275

Total reclassifications		$	700	$	411

Note 4 - Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

	Year Ended December 31, 2018
	(in thousands, unaudited)
Pro Forma
Revenues	$	124,319
Income from continuing operations		3,614

Note 5 - Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Disposal Groups Including Discontinued Operations income (Loss) [Table Text Block]

	Year Ended
	December 31,
	2018
	(in thousands)
Revenues	$	893
Cost of revenues		(534	)
Operating and other expenses		(674	)
Gain on disposal of discontinued operations		1,251
Income from discontinued operations before income taxes	$	936
Income tax benefit		(441	)
Income from discontinued operations		1,377

Note 6 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Goodwill [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Carrying amount at beginning of year	$	57,304	$	36,336
Goodwill arising from business combination		-		21,865
Effect of change in currency translation		77		(897	)
Carrying amount at end of year	$	57,381	$	57,304

Schedule of Intangible Assets and Goodwill [Table Text Block]

			December 31,
			2019							2018
			(in thousands)
Amortizable intangible assets:	Weighted Average Life* (Years)		Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Distribution agreements/customer relationships		9.8	$	17,891	$	(6,340	)	$	11,551	$	22,657	$	(9,509	)	$	13,148
Existing technology		6.1		41,222		(19,698	)		21,524		41,268		(16,215	)		25,053
Trade names		6.8		7,692		(3,497	)		4,195		7,828		(2,861	)		4,967
In-process R&D		-		-		-			-		1,387		(30	)		1,357
Patents		-		218		(218	)		-		211		(204	)		7
Total amortizable intangible assets			$	67,023	$	(29,753	)	$	37,270	$	73,351	$	(28,819	)	$	44,532
Indefinite-lived intangible assets:									1,135							1,232
Total intangible assets								$	38,405						$	45,764

Note 7 - Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Finished goods	$	5,561	$	6,936
Work in process		3,153		3,667
Raw materials		13,347		14,484
Total	$	22,061	$	25,087

Note 8 - Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Table Text Block]

	December 31,
	2019			2018
	(in thousands)
Machinery and equipment	$	7,198		$	9,678
Computer equipment and software		8,954			9,685
Leasehold improvements		2,151			2,468
Furniture and fixtures		1,321			1,390
Automobiles		92			115
		19,716			23,336
Less: accumulated depreciation		(14,940	)		(17,438	)
Property, plant and equipment, net	$	4,776		$	5,898

Note 9 - Restructuring and Other Exit Costs (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

(in thousands)	Cost of Revenues			Severance Costs			Impairment			Other			Total
Restructuring charges	$	235		$	530		$	460		$	129		$	1,354
Non-cash charges		(235	)		-			(460	)		(10	)		(705	)
Cash payments		-			(166	)		-			(115	)		(281	)
Balance at December 31, 2019	$	-		$	364		$	-		$	4		$	368

Note 11 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Costs of Retirement Plans [Table Text Block]

	Year Ended December 31,
	2019			2018
	(in thousands)
Components of net periodic benefit cost:
Interest cost		484			502
Expected return on plan assets		(761	)		(779	)
Net amortization loss		336			222
Recognition of net gain/loss due to settlements		228			110
Net periodic benefit cost	$	287		$	55

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

	December 31,
	2019			2018
	(in thousands)
Change in benefit obligation:
Balance at beginning of year	$	18,701		$	21,126
Service cost		-			24
Interest cost		484			502
Actuarial (gain) loss		1,513			(1,056	)
Settlements due to transfers paid		(871	)		(267	)
Benefits paid		(447	)		(521	)
Currency translation adjustment		647			(1,107	)
Balance at end of year	$	20,027		$	18,701

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

	December 31,
	2019			2018
	(in thousands)
Change in fair value of plan assets:
Balance at beginning of year	$	17,819		$	19,972
Actual return on plan assets		3,172			(1,058	)
Employer contributions		831			741
Settlement due to transfers paid		(931	)		(263	)
Benefits paid		(447	)		(521	)
Currency translation adjustment		670			(1,052	)
Balance at end of year	$	21,114		$	17,819

Schedule of Net Funded Status [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Benefit obligation:
Funded status	$	1,087	$	(882	)
Unrecognized net loss		N/A		N/A
Net asset (liability) recognized	$	1,087	$	(882	)

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Other long term assets (liabilities)	$	1,087	$	(882	)
Deferred income tax assets		-		150
Net amount recognized	$	1,087	$	(732	)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Funded status of pension plans	$	1,087	$	(732	)
Net amount recognized	$	1,087	$	(732	)

Defined Benefit Plan, Assumptions [Table Text Block]

	Year Ended December 31,
	2019			2018

Discount rate		2.02	%		2.65	%
Expected return on assets		3.84	%		4.68	%

Schedule of Allocation of Plan Assets [Table Text Block]

	December 31,
	2019				2018
	(in thousands)
Asset category:
Equity securities	$	11,534	55	%	$	9,134	51	%
Debt securities		3,919	19	%		3,274	18	%
Liability driven investment funds		3,615	17	%		4,341	24	%
Cash and cash equivalents		1,514	7	%		618	4	%
Other		532	3	%		452	3	%
Total	$	21,114	100	%	$	17,819	100	%

Defined Benefit Plan, Plan Assets, Category [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	1,514	$	618
Significant Other Observable Inputs (Level 2)		19,600		17,201
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	21,114	$	17,819

Note 12 - Leases (Tables)

12 Months Ended

Dec. 31, 2019

Lease, Cost [Table Text Block]

	Year Ended
	December 31, 2019
	(in thousands)
Operating lease cost	$	2,084
Short term lease cost		245
Sublease income		(429	)
Total lease cost	$	1,900

Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]

	Year Ended
	December 31, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:	$	2,530

Right-of-use assets obtained in exchange for lease obligations:	$	177

Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block]

	December 31, 2019
	(in thousands)
Operating lease right-of use assets	$	8,463

Current portion, operating lease liabilities	$	2,424
Operating lease liabilities, long term		8,224
Total operating lease liabilities	$	10,648

Weighted average remaining lease term (in years)		8.1
Weighted average discount rate		9.2	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Operating
	Leases
	(in thousands)
2020	$	2,426
2021		1,945
2022		1,862
2023		1,832
2024		1,587
Thereafter		5,889
Total lease payments		15,541
Less interest		(4,893	)
Total operating lease liabilities	$	10,648

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

	Operating
	Leases
	(in thousands)
2019	$	2,250
2020		2,247
2021		1,987
2022		1,966
2023		1,990
Thereafter		7,559
Net minimum lease payments	$	17,999

Note 13 - Capital Stock (Tables)

12 Months Ended

Dec. 31, 2019

Schedule Of Stock Options And Restricted Stock Units Activity Roll forward [Table Text Block]

	Stock Options					Restricted Stock Units					Market Condition RSU's
	Stock			Weighted		Restricted					Market
	Options			Average		Stock Units			Grant Date		Condition RSU's			Grant Date
	Outstanding			Exercise Price		Outstanding			Fair Value		Outstanding			Fair Value

Balance at December 31, 2017		3,780,244		$	3.95		1,796,927		$	2.69		164,127		$	4.81
Granted		104,585			4.48		639,126			4.31		156,944			4.19
Exercised		(1,696,255	)		3.50		-			-		-			-
Vested (RSUs)		-			-		(845,326	)		2.88		(69,667	)		4.81
Cancelled / forfeited		(231,842	)		4.96		(356,965	)		2.84		(134,460	)		4.63
Balance at December 31, 2018		1,956,732			4.25		1,233,762			3.36		116,944			4.19
Granted		943,424			3.28		1,652,720			2.31		605,005			1.98
Exercised		(3,750	)		2.98		-			-		-			-
Vested (RSUs)		-			-		(813,762	)		3.29		(3,778	)		4.19
Cancelled / forfeited		(630,284	)		3.96		(482,270	)		3.42		(188,680	)		4.18
Balance at December 31, 2019		2,266,122		$	3.93		1,590,450		$	2.27		529,491		$	1.67

Schedule of Weighted Average Number of Shares [Table Text Block]

	Year Ended December 31,
	2019		2018
Basic		37,813,580		36,453,126
Dillutive effect of equity awards		-		-
Diluted		37,813,580		36,453,126

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

			Options Outstanding								Options Exercisable
					Weighted								Weighted
					Average		Weighted						Average		Weighted
Range of			Number		Remaining		Average		Aggregate		Shares		Remaining		Average		Aggregate
Exercise			Outstanding at		Contractual Life		Exercise		Intrinsic		Exercisable at		Contractual Life		Exercise		Intrinsic
Price			Dec. 31, 2019		in Years		Price		Value		Dec. 31, 2019		in Years		Price		Value

$1.78	-	2.59		234,399		6.48	$	2.14	$	213		94,069		1.94	$	2.57	$	45
2.60	-	2.94		208,414		9.52		2.84		44		10,000		7.25		2.60		5
2.95	-	3.49		264,571		8.00		3.23		-		148,400		7.45		3.27		-
3.50	-	3.92		305,839		7.32		3.74		-		166,431		5.76		3.70		-
3.93	-	4.08		65,849		1.42		4.04		-		65,849		1.42		4.04		-
4.09	-	4.17		355,625		4.41		4.12		-		355,625		4.41		4.12		-
4.18	-	4.38		370,000		3.93		4.30		-		370,000		3.93		4.30		-
4.39	-	5.39		141,550		5.56		4.99		-		126,550		5.22		5.04		-
5.40	-	5.54		174,875		5.18		5.51		-		174,875		5.18		5.51		-
5.55	-	5.75		145,000		5.65		5.58		-		137,500		5.49		5.57		-
$1.78	-	5.78		2,266,122		5.95	$	3.93	$	257		1,649,299		4.70	$	4.28	$	50

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Year Ended December 31,
	2019		2018
	(in thousands)
Cost of product revenues	$	43	$	64
Sales and marketing		119		431
General and administrative		2,710		2,232
Research and development		162		167
Discontinued operations		-		150
Total stock-based compensation	$	3,034	$	3,044

Monte-Carlo Valuation Simulation [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2019			2018

Volatility		58.96	%		44.02	%
Risk-free interest rate		1.99	%		2.27	%
Correlation coefficient		23.59	%		0.07	%
Dividend yield		-	%		-	%

Black Scholes Option Pricing Model [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2019			2018
Volatility		48.11	%		43.28	%
Risk-free interest rate		2.12	%		2.84	%
Expected holding period (in years)		4.7			4.8
Dividend Yield		-	%		-	%

Note 14 - Long Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Debt [Table Text Block]

	December 31,
	2019			2018
	(in thousands)
Long-term debt:
Term loan	$	54,997			62,400
Revolving line		-			-
Total unamortized deferred financing costs		(1,180	)		(1,605	)
Total debt		53,817			60,795
Less: current installments		(3,200	)		(2,400	)
Less: excess cash flow sweep		(4,093	)		(3,983	)
Current unamortized deferred financing costs		393			401
Long-term debt	$	46,917		$	54,813

Schedule of Maturities of Long-term Debt [Table Text Block]

	(in thousands)

2020	$	7,293
2021		3,200
2022		3,200
2023		41,304
Total	$	54,997

Note 15 - Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

		December 31, 2019
		Notional Amount		Fair Value (a)
Derivatives instruments	Balance sheet classification	(in thousands)
Interest rate swaps	Other long term liabilities	$	28,821	$	(603	)

		December 31, 2018
		Notional Amount		Fair Value (a)
Derivatives instruments	Balance sheet classification	(in thousands)
Interest rate swaps	Other long term liabilities	$	34,090	$	(170	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Derivatives in Hedging Relationships	Amount of gain (loss) recognized in OCI on derivative (effective portion)
	Year Ended December 31,
	2019			2018
	(in thousands)
Interest rate swaps	$	(572	)	$	(343	)

Details about AOCI Components	Amount reclassified from AOCI into income (effective portion)
	Year Ended December 31,				Location of amount reclassified
	2019		2018		into income (effective portion)
		(in thousands)
Interest rate swaps	$	139	$	136	Interest expense

Note 16 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value as of December 31, 2019
(In thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities):
Interest rate swap agreements	$	-	$	(603	)	$	-	$	(603	)

	Fair Value as of December 31, 2018
(In thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities):
Interest rate swap agreements	$	-	$	(170	)	$	-	$	(170	)

Note 17 - Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
Compensation and payroll	$	2,554	$	2,899
Professional fees		395		536
Warranty costs		252		391
Local taxes, including VAT		345		423
Customer related costs		963		1,242
Interest		425		480
Other		1,157		1,379
Total	$	6,091	$	7,350

Note 18 - Revenues (Tables)

12 Months Ended

Dec. 31, 2019

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31, 2019
	(in thousands)
	United States		United Kingdom		Germany		Rest of the world		Total
Instruments, equipment, software and accessories	$	78,196	$	10,607	$	13,359	$	8,058	$	110,220
Service, maintenance and warranty contracts		4,742		819		313		82		5,956
Total revenues	$	82,938	$	11,426	$	13,672	$	8,140	$	116,176

	Year Ended December 31, 2018
	(in thousands)
	United States		United Kingdom		Germany		Rest of the world		Total
Instruments, equipment, software and accessories	$	79,614	$	13,690	$	13,193	$	8,571	$	115,068
Service, maintenance and warranty contracts		4,438		832		366		70		5,706
Total revenues	$	84,052	$	14,522	$	13,559	$	8,641	$	120,774

Contract with Customer, Asset and Liability [Table Text Block]

	Year Ended December 31, 2019
	(in thousands)
	Service Contracts			Customer Advances			Total
Balance, beginning of period	$	1,659		$	2,161		$	3,820
Deferral of revenue		2,152			1,095			3,247
Recognition of deferred revenue		(2,233	)		(894	)		(3,127	)
Effect of foreign currency translation		9			-			9
Balance, end of period	$	1,587		$	2,362		$	3,949

	Year Ended December 31, 2018
	(in thousands)
	Service Contracts			Customer Advances			Total
Balance, beginning of period	$	505		$	-		$	505
Addition due to business combination		848			2,128			2,976
Deferral of revenue		4,305			1,210			5,515
Recognition of deferred revenue		(3,984	)		(1,177	)		(5,161	)
Effect of foreign currency translation		(15	)		-			(15	)
Balance, end of period	$	1,659		$	2,161		$	3,820

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Year Ended December 31,
	2019			2018
	(in thousands)
Balance, beginning of period	$	332		$	193
Addition due to business combination		-			103
Bad debt expense		288			25
Charge-offs and other recoveries		(293	)		12
Effect of foreign currency translation		(2	)		(1	)
Balance, end of period	$	325		$	332

Note 19 - Warranties (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Product Warranty Liability [Table Text Block]

	Beginning				(Charges)\			Ending
	Balance		Additions		Credits			Balance
	(in thousands)
Year ended December 31, 2018	$	246		182		(37	)	$	391
Year ended December 31, 2019	$	391		10		(149	)	$	252

Note 20 - Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

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

	Year Ended December 31,
	2019			2018
	(in thousands)
Current income tax (benefit) expense:
Federal and state	$	(707	)	$	(191	)
Foreign		290			279
		(417	)		88
Deferred income tax (benefit) expense:
Federal and state		(281	)		(3,552	)
Foreign		(117	)		(212	)
		(398	)		(3,764	)
Total income tax benefit from continuing operations	$	(815	)	$	(3,676	)

	Year Ended December 31,
	2019			2018
	(in thousands)
Continuing operations	$	(815	)	$	(3,676	)
Discontinued operations		-			(441	)
Total income tax benefit	$	(815	)	$	(4,117	)

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

	Year Ended December 31,
	2019			2018
	(in thousands)
Computed "expected" income tax benefit	$	(1,161	)	$	(1,674	)
Increase (decrease) in income taxes resulting from:
Permanent differences, net		241			(117	)
Foreign tax rate differential		42			(11	)
State income taxes, net of federal income tax benefit		(74	)		(121	)
Non-deductible stock compensation expense		205			(329	)
Acquisition costs		3			438
Tax credits		220			(242	)
Change in reserve for uncertain tax position		(111	)		203
Impact of change to prior year tax accruals		314			100
Change in valuation allowance allocated to income tax benefit		(578	)		(1,850	)
Other		84			(73	)
Total income tax benefit	$	(815	)	$	(3,676	)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year Ended December 31,
	2019				2018
		(in thousands)
Domestic	$	(5,616	)	$	(9,034	)
Foreign		114			1,059
Total	$	(5,502	)	$	(7,975	)

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

	December 31,
	2019			2018
	(in thousands)
Deferred income tax assets:
Inventory	$	1,079		$	1,147
Operating loss and credit carryforwards		18,802			20,095
Accrued expenses		654			1,037
Deferred interest expense		1,475			655
Stock compensation		1,011			999
Lease liability		2,081			-
Other assets		223			339
Total gross deferred assets		25,325			24,272
Less: valuation allowance		(13,745	)		(13,899	)
Deferred tax assets	$	11,580		$	10,373

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	2,048		$	1,975
Definite-lived intangible assets		9,168			10,221
Right-of-use asset		1,580			-
Other liabilities		507			267
Total deferred tax liabilities		13,303			12,463
Deferred income tax liability, net	$	(1,723	)	$	(2,090	)

	December 31,
	2019			2018
	(in thousands)
Deferred income tax assets (included in other long-term assets)	$	251		$	211
Deferred income tax liabilities		(1,974	)		(2,301	)
Deferred income tax liability, net	$	(1,723	)	$	(2,090	)

Summary of Income Tax Contingencies [Table Text Block]

	(in thousands)
Balance at December 31, 2017	$	323
Release due to expiration of statute of limitations positions of prior years		(94	)
Additions based on tax positions of prior years		242
Additions based on tax positions of acquired entities		1,389
Balance at December 31, 2018		1,860
Additions based on tax positions of prior years		68
Decreases based on tax positions of prior years		(133	)
Additions based on tax position of current year		21
Settlements		(398	)
Decreases based on tax positions of acquired entities		(65	)
Balance at December 31, 2019	$	1,353

Note 22 - Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
United States	$	35,409	$	42,222
Germany		4,142		5,022
United Kingdom		320		585
Rest of the world		2,176		2,601
Total long-lived assets (a)	$	42,047	$	50,430

Schedule of Net Assets By Geographic Areas [Table Text Block]

	December 31,
	2019		2018
	(in thousands)
United States	$	37,726	$	38,921
Germany		17,340		17,261
United Kingdom		11,254		10,473
Rest of the world		15,374		16,069
Total net assets	$	81,694	$	82,724

Note 23 - Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information [Table Text Block]

	First			Second			Third			Fourth			Fiscal
2019	Quarter			Quarter			Quarter			Quarter			Year
	(in thousands, except per share data)
Revenues	$	28,202		$	29,584		$	27,418		$	30,972		$	116,176
Cost of revenues		12,048			13,629			12,439			13,738			51,854
Gross profit		16,154			15,955			14,979			17,234			64,322
Total operating expenses		16,273			15,727			16,344			15,601			63,945
Operating (loss) income		(119	)		228			(1,365	)		1,633			377
Other expense, net		(1,675	)		(1,360	)		(1,309	)		(1,535	)		(5,879	)
(Loss) income before income taxes		(1,794	)		(1,132	)		(2,674	)		98			(5,502	)
Income tax expense (benefit)		576			(885	)		(54	)		(452	)		(815	)
Net (loss) income	$	(2,370	)	$	(247	)	$	(2,620	)	$	550		$	(4,687	)

(Loss) earnings per share:
Basic (loss) earnings per common share	$	(0.06	)	$	(0.01	)	$	(0.07	)	$	0.02		$	(0.12	)

Diluted (loss) earnings per common share	$	(0.06	)	$	(0.01	)	$	(0.07	)	$	0.02		$	(0.12	)

	First			Second			Third			Fourth			Fiscal
2018	Quarter			Quarter			Quarter			Quarter			Year
	(in thousands, except per share data)
Revenues	$	26,759		$	31,522		$	28,635		$	33,858		$	120,774
Cost of revenues		13,490			16,167			12,818			15,118			57,593
Gross profit		13,269			15,355			15,817			18,740			63,181
Total operating expenses		14,535			15,737			14,927			16,998			62,197
Operating (loss) income		(1,266	)		(382	)		890			1,742			984
Other expense, net		(3,979	)		(1,485	)		(1,798	)		(1,697	)		(8,959	)
(Loss) income from continuing operations before income taxes		(5,245	)		(1,867	)		(908	)		45			(7,975	)
Income tax expense (benefit)		605			(369	)		(652	)		(3,260	)		(3,676	)
Net (loss) income from continuing operations		(5,850	)		(1,498	)		(256	)		3,305			(4,299	)
Income (loss) from discontinued operations, net of tax		1,786			34			-			(443	)		1,377
Net (loss) income	$	(4,064	)	$	(1,464	)	$	(256	)	$	2,862		$	(2,922	)

(Loss) earnings per share:
Basic (loss) earnings per common share from continuing operations	$	(0.16	)	$	(0.04	)	$	(0.01	)	$	0.09		$	(0.12	)
Basic earnings (loss) per common share from discontinued operations		0.05			-			-			(0.01	)		0.04
Basic (loss) earnings per common share	$	(0.11	)	$	(0.04	)	$	(0.01	)	$	0.08		$	(0.08	)

Diluted (loss) earnings per common share from continuing operations	$	(0.16	)	$	(0.04	)	$	(0.01	)	$	0.09		$	(0.12	)
Diluted earnings (loss) per common share from discontinued operations		0.05			-			-			(0.01	)		0.04
Diluted (loss) earnings per common share	$	(0.11	)	$	(0.04	)	$	(0.01	)	$	0.08		$	(0.08	)

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Mar. 31, 2019

Jan. 01, 2019

Dec. 31, 2018

Goodwill, Impairment Loss

$ 0

Impairment of Long-Lived Assets Held-for-use

Operating Lease, Liability, Total

10,648

Operating Lease, Right-of-Use Asset

8,463

Long-term Debt, Current Maturities, Total

3,200

2,400

Long-term Debt, Excluding Current Maturities, Total

$ 46,917

$ 54,813

Iimmaterial Misclassification Understated Current Portion, Long Term Debt and Overstated Long Term Debt [Member]

Long-term Debt, Current Maturities, Total

$ 4,000

Long-term Debt, Excluding Current Maturities, Total

$ (4,000)

Accounting Standards Update 2016-02 [Member]

Operating Lease, Liability, Total

$ 11,700

Operating Lease, Right-of-Use Asset

$ 9,400

Existing Technology [Member]

^[1]

6 years 36 days

Trade Names [Member]

Minimum [Member] | Restricted Stock Units (RSUs) [Member]

^[1]

6 years 292 days

Minimum [Member]

Customer Payments Term

0 years

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

1 year

Minimum [Member] | Existing Technology [Member]

Minimum [Member] | Trade Names [Member]

7 years

Minimum [Member] | Distribution Rights [Member]

10 years

Minimum [Member] | In Process Research and Development [Member]

4 years

Minimum [Member] | Customer Relationships [Member]

5 years

Maximum [Member] | Restricted Stock Units (RSUs) [Member]

5 years

Maximum [Member]

Customer Payments Term

60 days

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

4 years

Maximum [Member] | Existing Technology [Member]

Maximum [Member] | Trade Names [Member]

15 years

Maximum [Member] | Distribution Rights [Member]

15 years

Maximum [Member] | In Process Research and Development [Member]

5 years

Maximum [Member] | Customer Relationships [Member]

15 years

15 years

[1]	Weighted average life as of December 31, 2019.

Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Machinery and Equipment [Member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	10 years
Computer Equipment and Software [member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	3 years
Computer Equipment and Software [member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	7 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	10 years

Note 3 - Accumulated Other Comprehensive Loss - Changes in Each Component of Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Balance	$ (13,532)	$ (10,676)
Other comprehensive (loss) income before reclassifications	143	(3,267)
Amounts reclassified from AOCI	700	411
Other comprehensive income (loss)	843	(2,856)
Balance	(12,689)	(13,532)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(12,630)	(9,755)
Other comprehensive (loss) income before reclassifications	(543)	(2,875)
Amounts reclassified from AOCI
Other comprehensive income (loss)	(543)	(2,875)
Balance	(13,173)	(12,630)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(170)	37
Other comprehensive (loss) income before reclassifications	(572)	(343)
Amounts reclassified from AOCI	139	136
Other comprehensive income (loss)	(433)	(207)
Balance	(603)	(170)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(732)	(958)
Other comprehensive (loss) income before reclassifications	1,258	(49)
Amounts reclassified from AOCI	561	275
Other comprehensive income (loss)	1,819	226
Balance	$ 1,087	$ (732)

Note 3 - Accumulated Other Comprehensive Loss - Reclassified out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Amounts reclassified from accumulated other comprehensive loss to net loss	$ 139	$ 136
Amounts reclassified from accumulated other comprehensive loss to net loss	561	275
Total reclassifications	700	411
Interest Expense [Member]
Amount reclassified from AOCI into income	139	136
Income Tax Expense (Benefit) [Member]
Income tax
Income tax		(56)
General and Administrative Expense [Member]
Amortization of net losses included in net periodic pension costs	$ 561	$ 331

Note 4 - Acquisition (Details Textual) - Data Sciences International, Inc. (DSI) [Member] - USD ($) $ in Millions		12 Months Ended
	Jan. 31, 2018	Dec. 31, 2018
Business Combination, Consideration Transferred, Total	$ 71.1
Business Combination Purchase Accounting Inventory Fair Value Step Up Amortization		$ 3.8
Business Combination, Purchase Accounting Inventory Fair Value Step Up, Recognized Period		180 days
Business Combination Proforma Information Amortization Of Intangible Assets		$ 2.9
Business Combination, Acquisition Related Costs		$ 3.4

Note 4 - Acquisition - Allocation of Purchase Price, Tangible Assets and Liabilities Assumed (Details) - Data Sciences International, Inc. (DSI) [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Revenues	$ 124,319
Income from continuing operations	$ 3,614

Note 5 - Discontinued Operations (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Jan. 22, 2018	Dec. 31, 2019	Dec. 31, 2018
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total		$ 1,002	$ 15,754
Denville [Member]
Disposal Group, Including Discontinued Operation, Consideration	$ 20,000
Earn Out Provision of Discontinued Operations	3,000
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total	15,700
Maximum Contingent Consideration Based on 2018 Operating Results	2,000
Maximum Contingent Consideration Based on 2019 Operating Results	$ 1,000
Escrow Amount, Released		$ 1,000

Note 5 - Discontinued Operations - Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income from discontinued operations before income taxes						$ 936
Income tax benefit from discontinued operations					0	(441)
Income from discontinued operations	$ (443)	$ 0	$ 34	$ 1,786		1,377
Denville [Member]
Revenues						893
Cost of revenues						(534)
Operating and other expenses						(674)
Gain on disposal of discontinued operations						1,251
Income from discontinued operations before income taxes						936
Income tax benefit from discontinued operations						(441)
Income from discontinued operations						$ 1,377

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

Note 6 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Amortization of Intangible Assets, Total				$ 5,746	$ 5,384
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 5,500			5,500
Finite-Lived Intangible Assets, Amortization Expense, Year Two	5,500			5,500
Finite-Lived Intangible Assets, Amortization Expense, Year Three	5,500			5,500
Finite-Lived Intangible Assets, Amortization Expense, Year Four	5,300			5,300
Finite-Lived Intangible Assets, Amortization Expense, Year Five	5,300			$ 5,300
Impairment of Intangible Assets (Excluding Goodwill), Total		$ 500			$ 0
In Process Research and Development Intangible Assets Reclassified as Completed Technology			$ 400
Fully Amortized Intangible Assets, Retired	$ 5,300
In Process Research and Development [Member]
Impairment of Intangible Assets (Excluding Goodwill), Total			$ 900

Note 6 - Goodwill and Other Intangible Assets - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Carrying amount at beginning of year	$ 57,304	$ 36,336
Goodwill arising from business combination		21,865
Effect of change in currency translation	77	(897)
Carrying amount at end of year	$ 57,381	$ 57,304

Note 6 - Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

$ 67,023

$ 73,351

(29,753)

(28,819)

Indefinite-lived intangible assets:

37,270

44,532

1,135

1,232

Intangible assets, net

$ 38,405

45,764

Distribution Agreements/Customer Relationships [Member]

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

^[1]

9 years 292 days

$ 17,891

22,657

(6,340)

(9,509)

Existing Technology [Member]

$ 11,551

13,148

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

^[1]

6 years 36 days

$ 41,222

41,268

(19,698)

(16,215)

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

$ 21,524

25,053

Trade Names [Member]

^[1]

6 years 292 days

$ 7,692

7,828

(3,497)

(2,861)

In Process Research and Development [Member]

4,195

4,967

1,387

(30)

1,357

Patents [Member]

218

211

(218)

(204)

$ 7

[1]	Weighted average life as of December 31, 2019.

Note 7 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finished goods	$ 5,561	$ 6,936
Work in process	3,153	3,667
Raw materials	13,347	14,484
Total	$ 22,061	$ 25,087

Note 8 - Property, Plant and Equipment (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Fully Depreciated and Disposed of Property and Equipment Removed From Fixed Asset Records	$ 4.8

Note 8 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Gross	$ 19,716	$ 23,336
Less: accumulated depreciation	(14,940)	(17,438)
Property, plant and equipment, net	4,776	5,898
Machinery and Equipment [Member]
Property, Plant and Equipment, Gross	7,198	9,678
Computer Equipment and Software [member]
Property, Plant and Equipment, Gross	8,954	9,685
Leasehold Improvements [Member]
Property, Plant and Equipment, Gross	2,151	2,468
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	1,321	1,390
Automobiles [Member]
Property, Plant and Equipment, Gross	$ 92	$ 115

Note 9 - Restructuring and Other Exit Costs (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Restructuring Charges, Total	$ 1,354
Restructuring Reserve, Ending Balance	368
Impairment Charges [Member]
Restructuring Charges, Total	500
Cost of Sales [Member]
Restructuring Charges, Total	200
Selling, General and Administrative Expenses [Member]
Restructuring Charges, Total	$ 700

Note 9 - Restructuring and Other Exit Costs - Activity for Accrued Restructuring Liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Restructuring charges	$ 1,354
Non-cash charges	(705)
Cash payments	(281)
Balance at December 31, 2019	368
Cost of Revenues [Member]
Restructuring charges	235
Non-cash charges	(235)
Cash payments
Balance at December 31, 2019
Employee Severance [Member]
Restructuring charges	530
Non-cash charges
Cash payments	(166)
Balance at December 31, 2019	364
Impairment [Member]
Restructuring charges	460
Non-cash charges	(460)
Cash payments
Balance at December 31, 2019
Other Restructuring [Member]
Restructuring charges	129
Non-cash charges	(10)
Cash payments	(115)
Balance at December 31, 2019	$ 4

Note 10 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Multi Channel Systems MCS GmbH [Member]
Operating Leases, Rent Expense, Net, Total	$ 0.3	$ 0.3

Note 11 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Cost	$ 0.4	$ 0.5
Defined Benefit Plan Average Remaining Work Lifetime	15 years
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	$ 0.5
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	0.5
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	0.6
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	0.7
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	0.8
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	4.2
Minimum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	$ 0.9

Note 11 - Employee Benefit Plans - Defined Benefit Pension Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest cost	$ 484	$ 502
Expected return on plan assets	(761)	(779)
Net amortization loss	336	222
Recognition of net gain/loss due to settlements	228	110
Net periodic benefit cost	$ 287	$ 55

Note 11 - Employee Benefit Plans - Change in Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Benefit Obligation, Balance	$ 18,701	$ 21,126
Service cost		24
Interest cost	484	502
Actuarial (gain) loss	1,513	(1,056)
Settlements due to transfers paid	(871)	(267)
Benefits paid	(447)	(521)
Currency translation adjustment	647	(1,107)
Defined Benefit Plan, Benefit Obligation, Balance	$ 20,027	$ 18,701

Note 11 - Employee Benefit Plans - Change in fair Value of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 17,819	$ 19,972
Actual return on plan assets	3,172	(1,058)
Employer contributions	831	741
Settlement due to transfers paid	(931)	(263)
Benefits paid	(447)	(521)
Currency translation adjustment	670	(1,052)
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 21,114	$ 17,819

Note 11 - Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net amount recognized	$ 1,087	$ (732)
Other Long Term Assets (Liabilities) [Member]
Funded status	1,087	(882)
Net amount recognized	$ 1,087	$ (882)

Note 11 - Employee Benefit Plans - Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net amount recognized	$ 1,087	$ (732)
Other Noncurrent Liabilities [Member]
Net amount recognized	1,087	(882)
Deferred Income Tax Assets [Member]
Net amount recognized		$ 150

Note 11 - Employee Benefit Plans - Recognized in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net amount recognized	$ 1,087	$ (732)
Funded Plan [Member]
Net amount recognized	$ 1,087	$ (732)

Note 11 - Employee Benefit Plans - Weighted average assumptions (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Discount rate	2.02%	2.65%
Expected return on assets	3.84%	4.68%

Note 11 - Employee Benefit Plans - Fair Value and Asset Allocations of Pension Benefits (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Defined Benefit Plan, Actual Plan Asset Allocations

$ 21,114

$ 17,819

$ 19,972

100.00%

Defined Benefit Plan, Equity Securities [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 11,534

$ 9,134

55.00%

51.00%

Debt Security, Corporate, US [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

^[1]

$ 3,919

$ 3,274

19.00%

18.00%

Liability Driven Investment Funds [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 3,615

$ 4,341

17.00%

24.00%

Defined Benefit Plan, Cash and Cash Equivalents [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 1,514

$ 618

7.00%

4.00%

Other Plan Assets [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 532

$ 452

3.00%

[1]	Updated dimension from: "Debt Securities [Member]".

Note 11 - Employee Benefit Plans - Fair Value of Plan Assets By Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Fair Value of Plan Assets	$ 21,114	$ 17,819	$ 19,972
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Fair Value of Plan Assets	1,514	618
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Fair Value of Plan Assets	19,600	17,201
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Fair Value of Plan Assets

Note 12 - Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Note 12 - Leases (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Jan. 01, 2019
Operating Lease, Right-of-Use Asset			$ 8,463
Operating Lease, Liability, Total			$ 10,648
Operating Lease, Expense	$ 3,200	$ 1,800
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 9,400
Operating Lease, Liability, Total				$ 11,700

Note 12 - Leases - Lease Expense (Details) $ in Thousands	12 Months Ended
Note 12 - Leases - Lease Expense (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Operating lease cost	$ 2,084
Short term lease cost	245
Sublease income	(429)
Total lease cost	$ 1,900

Note 12 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:	$ 2,530
Right-of-use assets obtained in exchange for lease obligations:	$ 177

Note 12 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating lease right-of use assets	$ 8,463
Current portion, operating lease liabilities	2,424
Operating lease liabilities, long term	8,224
Total operating lease liabilities	$ 10,648
Weighted average remaining lease term (in years) (Year)	8 years 36 days
Weighted average discount rate	9.20%

Note 12 - Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
2020	$ 2,426
2021	1,945
2022	1,862
2023	1,832
2024	1,587
Thereafter	5,889
Total lease payments	15,541
Less interest	(4,893)
Total operating lease liabilities	$ 10,648

Note 12 - Leases - Futrue Minimum Lease Payments for Operating Leases Presented in 2018 Form 10-K (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019	$ 2,250
2020	2,247
2021	1,987
2022	1,966
2023	1,990
Thereafter	7,559
Net minimum lease payments	$ 17,999

Note 13 - Capital Stock (Details Textual) - USD ($)					12 Months Ended
Note 13 - Capital Stock (Details Textual) - USD ($)	Aug. 03, 2018	May 24, 2018	Apr. 02, 2018	May 18, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2000
Preferred Stock, Shares Authorized					5,000,000	5,000,000
Preferred Stock, Shares Outstanding, Ending Balance					0
Employee Stock Purchase Plan, Consecutive Payment Periods							180 days
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date							85.00%
Increase In Number Of Shares Authorized For Issuance Under Stock Option And Incentive Plan			3,400,000	350,000
Employee Stock Purchase Plan Shares Authorized				1,400,000
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total						1,081,404
Stock Issued During Period, Shares, Employee Stock Purchase Plans					190,642	89,308
Employee Stock Ownership Plan, Shares Available for Issuance					318,596
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			20,908,929
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					4,386,063	3,307,438
Share Price					$ 3.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value					$ 189,069	$ 2,600,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 3,700,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 1.40	$ 1.83
Deferred Compensation Arrangement with Individual, Maximum Contractual Term					10 years
Preferred Stock, Shares Issued, Total					0
Deferred Stock Awards of Market Condition RSU, Approved Aug 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Threshold Trading Days	20 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	69,667
Deferred stock awards of Market Condition RSU, Approved May 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Threshold Trading Days		20 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 4.19
Deferred stock awards of Market Condition RSU, Approved 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Threshold Trading Days					20 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period					529,491
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Maximum Percentage Of Target, Number of Restricted Stock Units					150.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 1.98
Share-based Payment Arrangement, Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Share-based Payment Arrangement, Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years

Note 13 - Capital Stock - Stock Option and Restricted Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Opening Balance, Stock Options Outstanding (in shares)	1,956,732	3,780,244
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.25	$ 3.95
Options, Granted in Period (in shares)	943,424	104,585
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share)	$ 3.28	$ 4.48
Options, Exercised in Period (in shares)	(3,750)	(1,696,255)
Options, Exercised in Period, Weighted Average Exercise Price (in dollars per share)	$ 2.98	$ 3.50
Options, Cancelled / Forfeited in Period (in shares)	(630,284)	(231,842)
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share)	$ 3.96	$ 4.96
Opening Balance, Stock Options Outstanding (in shares)	2,266,122	1,956,732
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.93	$ 4.25
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units Outstanding , Balance (in shares)	1,233,762	1,796,927
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 3.36	$ 2.69
Restricted Stock Units, Granted in Period (in shares)	1,652,720	639,126
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 2.31	$ 4.31
Restricted Stock Units, Vested in Period (in shares)	(813,762)	(845,326)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 3.29	$ 2.88
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(482,270)	(356,965)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 3.42	$ 2.84
Restricted Stock Units Outstanding , Balance (in shares)	1,590,450	1,233,762
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 2.27	$ 3.36
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares)	116,944	164,127
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 4.19	$ 4.81
Restricted Stock Units, Granted in Period (in shares)	605,005	156,944
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 1.98	$ 4.19
Restricted Stock Units, Vested in Period (in shares)	(3,778)	(69,667)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 4.19	$ 4.81
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(188,680)	(134,460)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 4.18	$ 4.63
Restricted Stock Units Outstanding , Balance (in shares)	529,491	116,944
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 1.67	$ 4.19

Note 13 - Capital Stock - Weighted Average Number of Shares (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Basic (in shares)	37,813,580	36,453,126
Dillutive effect of equity awards (in shares)
Diluted (in shares)	37,813,580	36,453,126

Note 13 - Capital Stock - Outstanding and Exercisable Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Range of Exercise Price, Lower Limit (in dollars per share)	$ 1.78
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.78
Options Outstanding, Shares Outstanding (in shares) \| shares	2,266,122
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	5 years 346 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.93
Options Outstanding, Aggregate Intrinsic Value \| $	$ 257
Options Exercisable, Shares Exercisable (in shares) \| shares	1,649,299
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 255 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.28
Options Exercisable, Aggregate Intrinsic Value \| $	$ 50
Exercise Price Range 1 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 1.78
Range of Exercise Price, Upper Limit (in dollars per share)	$ 2.59
Options Outstanding, Shares Outstanding (in shares) \| shares	234,399
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 175 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.14
Options Outstanding, Aggregate Intrinsic Value \| $	$ 213
Options Exercisable, Shares Exercisable (in shares) \| shares	94,069
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	1 year 343 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.57
Options Exercisable, Aggregate Intrinsic Value \| $	$ 45
Exercise Price Range 2 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.60
Range of Exercise Price, Upper Limit (in dollars per share)	$ 2.94
Options Outstanding, Shares Outstanding (in shares) \| shares	208,414
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	9 years 189 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.84
Options Outstanding, Aggregate Intrinsic Value \| $	$ 44
Options Exercisable, Shares Exercisable (in shares) \| shares	10,000
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	7 years 91 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.60
Options Exercisable, Aggregate Intrinsic Value \| $	$ 5
Exercise Price Range 3 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.95
Range of Exercise Price, Upper Limit (in dollars per share)	$ 3.49
Options Outstanding, Shares Outstanding (in shares) \| shares	264,571
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	8 years
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.23
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	148,400
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	7 years 164 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.27
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 4 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 3.50
Range of Exercise Price, Upper Limit (in dollars per share)	$ 3.92
Options Outstanding, Shares Outstanding (in shares) \| shares	305,839
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	7 years 116 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.74
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	166,431
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	5 years 277 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.70
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 5 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 3.93
Range of Exercise Price, Upper Limit (in dollars per share)	$ 4.08
Options Outstanding, Shares Outstanding (in shares) \| shares	65,849
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	1 year 153 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.04
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	65,849
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	1 year 153 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.04
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 6 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 4.09
Range of Exercise Price, Upper Limit (in dollars per share)	$ 4.17
Options Outstanding, Shares Outstanding (in shares) \| shares	355,625
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	4 years 149 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.12
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	355,625
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 149 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.12
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 7 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 4.18
Range of Exercise Price, Upper Limit (in dollars per share)	$ 4.38
Options Outstanding, Shares Outstanding (in shares) \| shares	370,000
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	3 years 339 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.30
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	370,000
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	3 years 339 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.30
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 8 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 4.39
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.39
Options Outstanding, Shares Outstanding (in shares) \| shares	141,550
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	5 years 204 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.99
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	126,550
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	5 years 80 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.04
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 9 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 5.40
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.54
Options Outstanding, Shares Outstanding (in shares) \| shares	174,875
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	5 years 65 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.51
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	174,875
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	5 years 65 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.51
Options Exercisable, Aggregate Intrinsic Value \| $
Exercise Price Range 10 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 5.55
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.75
Options Outstanding, Shares Outstanding (in shares) \| shares	145,000
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	5 years 237 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.58
Options Outstanding, Aggregate Intrinsic Value \| $
Options Exercisable, Shares Exercisable (in shares) \| shares	137,500
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	5 years 178 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.57
Options Exercisable, Aggregate Intrinsic Value \| $

Note 13 - Capital Stock - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation	$ 3,034	$ 3,044
Discontinued Operations [Member]
Share-based Compensation		150
Cost of Sales [Member] \| Continuing Operations [Member]
Share-based Compensation	43	64
Selling and Marketing Expense [Member] \| Continuing Operations [Member]
Share-based Compensation	119	431
General and Administrative Expense [Member] \| Continuing Operations [Member]
Share-based Compensation	2,710	2,232
Research and Development Expense [Member] \| Continuing Operations [Member]
Share-based Compensation	$ 162	$ 167

Note 13 - Capital Stock - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Volatility	48.11%	43.28%
Risk-free interest rate	2.12%	2.84%
Expected holding period (Year)	4 years 255 days	4 years 292 days
Dividend Yield

Note 13 - Capital Stock - Monte Carlo Assumptions (Details) - Monte-Carlo Valuation Simulation [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Volatility	58.96%	44.02%
Risk-free interest rate	1.99%	2.27%
Correlation coefficient	23.59%	0.07%
Dividend Yield

Note 14 - Long Term Debt (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Jan. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Jan. 22, 2018
Long-term Debt, Gross		$ 54,997
Term Loan [Member]
Line of Credit Facility, Interest Rate at Period End		8.48%
Term Loan [Member]
Long-term Debt, Gross		$ 54,997	$ 62,400
Credit Agreement With Brown Brothers Harriman &Co [Member]
Long-term Debt, Gross					$ 11,900
Senior Secured Credit Facility [Member]
Debt Instrument, Term	2023 years
Debt Instrument, Quarterly Payment, Current Year				$ 400
Debt Instrument Quarterly Payment Next Year				600
Debt Instrument, Quarterly Payment, Thereafter				$ 800
Percentage of Consolidated Excess Cash Flow				50.00%
Excess Cash Flow Payment, Tranche Two		4,000
Excess Cash Flow Payment, Tranche One		$ 1,000
Limitation On Pledges of Capital Stock of Foreign Subsidiaries		65.00%
Line of Credit Facility, Remaining Borrowing Capacity		$ 8,700
Senior Secured Credit Facility [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		4.75%
Senior Secured Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		6.25%
Senior Secured Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.25%
Senior Secured Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage		4.25%
Senior Secured Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000
Proceeds from Lines of Credit, Total	4,800
Senior Secured Credit Facility [Member] \| Term Loan [Member]
Long-term Debt, Gross	$ 64,000

Note 14 - Long Term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long-term debt, gross	$ 54,997
Total unamortized deferred financing costs	(1,180)	$ (1,605)
Total debt	53,817	60,795
Less: current installments	(3,200)	(2,400)
Less: excess cash flow sweep	(4,093)	(3,983)
Current unamortized deferred financing costs	393	401
Long-term debt	46,917	54,813
Term Loan [Member]
Long-term debt, gross	54,997	62,400
Line of Credit [Member]
Long-term debt, gross

Note 14 - Long Term Debt - Debt Maturity (Details) $ in Thousands	Dec. 31, 2019 USD ($)
2020	$ 7,293
2021	3,200
2022	3,200
2023	41,304
Total	$ 54,997

Note 15 - Derivatives (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 31, 2018
Long-term Debt, Gross	$ 54,997
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	(300)
Interest Rate Swap [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Derivative, Fixed Interest Rate			2.72%
Interest Rate Swap [Member] \| PNC Bank [Member]
Derivative Asset, Notional Amount			$ 36,000
Term Loan [Member]
Long-term Debt, Gross	$ 54,997	$ 62,400
Senior Secured Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			25,000
Senior Secured Credit Facility [Member] \| Term Loan [Member]
Long-term Debt, Gross			$ 64,000

Note 15 - Derivatives - Derivative Instruments (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Other Noncurrent Liabilities [Member]

Derivatives, notional amount

$ 28,821

Derivatives, fair value

^[1]

$ (603)

Other Assets [Member]

Derivatives, notional amount

$ 34,090

Derivatives, fair value

^[1]

$ (170)

[1]	See Note 16 for the fair value measurements related to these financial instruments.

Note 15 - Derivatives - Effect of Derivatives on AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest Expense [Member]
Amount reclassified from AOCI into income	$ 139	$ 136
Interest Rate Swap [Member] \| Cash Flow Hedging [Member]
Amount of loss recognized in OCI on derivative	(572)	(343)
Interest Rate Swap [Member] \| Cash Flow Hedging [Member] \| Interest Expense [Member]
Amount reclassified from AOCI into income	$ 139	$ 136

Note 16 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Interest Rate Swap [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative liabilities	$ (603)
Derivative assets		$ (170)
Fair Value, Inputs, Level 1 [Member]
Derivative liabilities
Derivative assets
Fair Value, Inputs, Level 2 [Member]
Derivative liabilities	(603)
Derivative assets		(170)
Fair Value, Inputs, Level 3 [Member]
Derivative liabilities
Derivative assets

Note 17 - Other Current Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Compensation and payroll	$ 2,554	$ 2,899
Professional fees	395	536
Warranty costs	252	391
Local taxes, including VAT	345	423
Customer related costs	963	1,242
Interest	425	480
Other	1,157	1,379
Total	$ 6,091	$ 7,350

Note 18 - Revenues (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Contract with Customer, Liability, Total	$ 3,949	$ 3,820	$ 505

Note 18 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total revenues	$ 116,176	$ 120,774
Instruments, Equipment, Software, and Accessories [Member]
Total revenues	110,220	115,068
Service, Maintenance, and Warranty Contracts [Member]
Total revenues	5,956	5,706
UNITED STATES
Total revenues	82,938	84,052
UNITED STATES \| Instruments, Equipment, Software, and Accessories [Member]
Total revenues	78,196	79,614
UNITED STATES \| Service, Maintenance, and Warranty Contracts [Member]
Total revenues	4,742	4,438
UNITED KINGDOM
Total revenues	11,426	14,522
UNITED KINGDOM \| Instruments, Equipment, Software, and Accessories [Member]
Total revenues	10,607	13,690
UNITED KINGDOM \| Service, Maintenance, and Warranty Contracts [Member]
Total revenues	819	832
GERMANY
Total revenues	13,672	13,559
GERMANY \| Instruments, Equipment, Software, and Accessories [Member]
Total revenues	13,359	13,193
GERMANY \| Service, Maintenance, and Warranty Contracts [Member]
Total revenues	313	366
Rest of the World [Member]
Total revenues	8,140	8,641
Rest of the World [Member] \| Instruments, Equipment, Software, and Accessories [Member]
Total revenues	8,058	8,571
Rest of the World [Member] \| Service, Maintenance, and Warranty Contracts [Member]
Total revenues	$ 82	$ 70

Note 18 - Revenues - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Balance	$ 3,820	$ 505
Deferral of revenue	3,247	5,515
Recognition of deferred revenue	(3,127)	(5,161)
Effect of foreign currency translation	9	(15)
Balance	3,949	3,820
Addition due to business combination		2,976
Service [Member]
Balance	1,659	505
Deferral of revenue	2,152	4,305
Recognition of deferred revenue	(2,233)	(3,984)
Effect of foreign currency translation	9	(15)
Balance	1,587	1,659
Addition due to business combination		848
Customer Advances [Member]
Balance	2,161
Deferral of revenue	1,095	1,210
Recognition of deferred revenue	(894)	(1,177)
Effect of foreign currency translation
Balance	$ 2,362	2,161
Addition due to business combination		$ 2,128

Note 18 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Balance, beginning of period	$ 332	$ 193
Addition due to business combination		103
Provision for allowance for doubtful accounts	288	25
Charge-offs and other recoveries	(293)	12
Effect of foreign currency translation	(2)	(1)
Balance, end of period	$ 325	$ 332

Note 19 - Warranties - Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Warranty, Beginning Balance	$ 391	$ 246
Warranty Additions	10	182
Warranty (Payments) or Credits	(149)	(37)
Warranty, Ending Balance	$ 252	$ 391

Note 20 - Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Tax Expense (Benefit), Total	$ (452)	$ (54)	$ (885)	$ 576	$ (3,260)	$ (652)	$ (369)	$ 605	$ (815)	$ (3,676)
Effective Income Tax Rate Reconciliation, Percent, Total									14.80%	46.10%
Discontinued Operation, Tax Effect of Discontinued Operation, Total									$ 0	$ (441)
Deferred Tax Assets, Valuation Allowance, Total	13,745				13,899				13,745	13,899
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount									(200)	2,500
Research and Development Tax Credit Carryforwards Offset by Reserve for Uncertain Tax Positions	1,000								1,000
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	800								800
Deferred Tax Assets, Tax Credit Carryforwards, Total	3,200								3,200
Cash and Cash Equivalents in Foreign Subsidiaries	3,500				3,200				3,500	3,200
Tax Liability on Foreign Earnings Repatriated	55				38				55	38
Unrecognized Tax Benefits, Increase Resulting from Audits									100	200
Unrecognized Tax Benefits, Increase Resulting from Acquisition										1,389
Unrecognized Tax Benefits, Increase Resulting from Credits										800
Unrecognized Tax Benefits, Increase Resulting from State Income Tax Issues										500
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities									398
Unrecognized Tax Benefits, Decrease Resulting from Acquisition									65
Decrease in Unrecognized Tax Benefits is Reasonably Possible	32								32
Income Tax Examination, Penalties and Interest Accrued, Total	100				$ 100				100	100
Income Tax Examination, Penalties and Interest Expense, Total									26	$ 31
Expire in 2020 [Member]
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	200								200
Deferred Tax Assets, Tax Credit Carryforwards, Research	8,700								8,700
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	27,200								27,200
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Expire between 2019 and 2037 [Member]
Operating Loss Carryforwards, Total	21,900								21,900
State and Local Jurisdiction [Member]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities									400
State and Local Jurisdiction [Member] \| Expire between 2020 and 2038 [Member]
Operating Loss Carryforwards, Total	17,800								17,800
Foreign Tax Authority [Member]
Operating Loss Carryforwards, Total	5,500								5,500
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities									100
Foreign Tax Authority [Member] \| Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 300								$ 300

Note 20 - Income Tax - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Federal and state									$ (707)	$ (191)
Foreign									290	279
current income tax (benefit) expense									(417)	88
Federal and state									(281)	(3,552)
Foreign									(117)	(212)
deferred income tax (benefit) expense									(398)	(3,764)
Total income tax benefit from continuing operations	$ (452)	$ (54)	$ (885)	$ 576	$ (3,260)	$ (652)	$ (369)	$ 605	(815)	(3,676)
Continuing operations	$ (452)	$ (54)	$ (885)	$ 576	$ (3,260)	$ (652)	$ (369)	$ 605	(815)	(3,676)
Income tax benefit from discontinued operations									0	(441)
Total income tax benefit									$ (815)	$ (4,117)

Note 20 - Income Tax - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Computed "expected" income tax benefit	$ (1,161)	$ (1,674)
Permanent differences, net	241	(117)
Foreign tax rate differential	42	(11)
State income taxes, net of federal income tax benefit	(74)	(121)
Non-deductible stock compensation expense	205	(329)
Acquisition costs	3	438
Tax credits	220	(242)
Change in reserve for uncertain tax position	(111)	203
Impact of change to prior year tax accruals	314	100
Change in valuation allowance allocated to income tax benefit	(578)	(1,850)
Other	84	(73)
Total income tax benefit	$ (815)	$ (3,676)

Note 20 - Income Tax - Pre-tax Income from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Domestic									$ (5,616)	$ (9,034)
Foreign									114	1,059
Loss from continuing operations before income taxes	$ 98	$ (2,674)	$ (1,132)	$ (1,794)	$ 45	$ (908)	$ (1,867)	$ (5,245)	$ (5,502)	$ (7,975)

Note 20 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory	$ 1,079	$ 1,147
Operating loss and credit carryforwards	18,802	20,095
Accrued expenses	654	1,037
Deferred interest expense	1,475	655
Stock compensation	1,011	999
Lease liability	2,081
Other assets	223	339
Total gross deferred assets	25,325	24,272
Less: valuation allowance	(13,745)	(13,899)
Deferred tax assets	11,580	10,373
Indefinite-lived intangible assets	2,048	1,975
Definite-lived intangible assets	9,168	10,221
Right-of-use asset	1,580
Other liabilities	507	267
Total deferred tax liabilities	13,303	12,463
Deferred income tax liability, net	(1,723)	(2,090)
Deferred income tax assets (included in other long-term assets)	251	211
Deferred income tax liabilities	$ (1,974)	$ (2,301)

Note 20 - Income Tax - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Balance	$ 1,860	$ 323
Release due to expiration of statute of limitations positions of prior years		(94)
Additions based on tax positions of prior years	68	242
Additions based on tax positions of acquired entities		1,389
Decreases based on tax positions of prior years	(133)
Additions based on tax position of current year	21
Settlements	(398)
Decreases based on tax positions of acquired entities	(65)
Balance	$ 1,353	$ 1,860

Note 22 - Segment and Related Information (Details Textual)	12 Months Ended
	Dec. 31, 2019
Number of Operating Segments	1

Note 22 - Segment and Related Information - Long-lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

UNITED STATES | Continuing Operations [Member]

^[1]

$ 42,047

$ 50,430

GERMANY | Continuing Operations [Member]

35,409

42,222

UNITED KINGDOM | Continuing Operations [Member]

4,142

5,022

Rest of the World [Member] | Continuing Operations [Member]

320

585