2018 Q3 Form 10-K Financial Statement

#000117184319007508 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2018 Q1
Revenue $14.74M $12.92M $12.21M
YoY Change 35.23% 26.42% 39.7%
Cost Of Revenue $9.670M $8.592M $8.013M
YoY Change 36.97% 26.84% 36.5%
Gross Profit $5.070M $4.331M $4.201M
YoY Change 32.03% 25.59% 46.24%
Gross Profit Margin 34.4% 33.52% 34.4%
Selling, General & Admin $5.350M $4.772M $4.449M
YoY Change 22.15% 16.02% 8.8%
% of Gross Profit 105.52% 110.18% 105.9%
Research & Development $940.0K $860.3K $922.7K
YoY Change 18.99% 17.27% 24.35%
% of Gross Profit 18.54% 19.86% 21.96%
Depreciation & Amortization $280.0K $270.0K $280.0K
YoY Change 16.67% 22.73% 21.74%
% of Gross Profit 5.52% 6.23% 6.66%
Operating Expenses $4.770M $5.633M $5.372M
YoY Change 30.33% 16.21% 11.19%
Operating Profit $300.0K $2.453M $2.244M
YoY Change 66.67% 41.81% 268.64%
Interest Expense $1.740M $3.139K $5.779K
YoY Change 10.13% -57.63% 66.54%
% of Operating Profit 580.0% 0.13% 0.26%
Other Income/Expense, Net
YoY Change
Pretax Income $2.050M $2.490M $2.260M
YoY Change 16.48% 43.93% 270.49%
Income Tax -$190.0K $181.7K $841.9K
% Of Pretax Income -9.27% 7.3% 37.25%
Net Earnings $2.140M $2.143M $1.333M
YoY Change 53.96% 58.44% 244.44%
Net Earnings / Revenue 14.52% 16.58% 10.91%
Basic Earnings Per Share $0.24 $0.29
Diluted Earnings Per Share $225.3K $0.23 $0.29
COMMON SHARES
Basic Shares Outstanding 9.079M 4.537M
Diluted Shares Outstanding 9.414M 4.673M

Balance Sheet

Concept 2018 Q3 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.460M $7.890M $8.340M
YoY Change -26.36% 8.68% 119.47%
Cash & Equivalents $4.163M $4.610M $5.067M
Short-Term Investments $3.300M $3.280M $3.270M
Other Short-Term Assets $1.660M $1.080M $1.020M
YoY Change 277.27% 157.14% 67.21%
Inventory $9.131M $9.175M $9.126M
Prepaid Expenses $1.662M $1.081M $1.025M
Receivables $10.68M $9.290M $8.760M
Other Receivables $1.630M $1.720M $1.670M
Total Short-Term Assets $30.57M $29.16M $28.92M
YoY Change 17.26% 18.33% 42.27%
LONG-TERM ASSETS
Property, Plant & Equipment $7.169M $7.233M $7.156M
YoY Change -2.59% -2.93% -4.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.95M $22.41M $22.26M
YoY Change 14.55% 18.56% 5.7%
Other Assets $153.8K $153.8K
YoY Change 114.62% 114.61%
Total Long-Term Assets $25.81M $24.82M $24.56M
YoY Change 11.33% 13.31% 2.42%
TOTAL ASSETS
Total Short-Term Assets $30.57M $29.16M $28.92M
Total Long-Term Assets $25.81M $24.82M $24.56M
Total Assets $63.55M $61.21M $60.63M
YoY Change 12.25% 13.36% 17.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.905M $3.316M $4.266M
YoY Change 45.89% -6.8% 19.64%
Accrued Expenses $3.750M $2.920M $2.120M
YoY Change 68.92% 137.4% 51.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.730M $6.349M $6.724M
YoY Change 57.93% 32.53% 35.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.730M $6.349M $6.724M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $10.47M $9.390M $9.630M
YoY Change 35.1% 25.37% 28.4%
SHAREHOLDERS EQUITY
Retained Earnings $41.96M $40.28M $38.59M
YoY Change 13.18% 12.84% 12.37%
Common Stock $14.71M $14.61M $14.49M
YoY Change 3.2% 3.79% 3.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.08M $51.82M $51.00M
YoY Change
Total Liabilities & Shareholders Equity $63.55M $61.21M $60.63M
YoY Change 12.25% 13.36% 17.07%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $2.140M $2.143M $1.333M
YoY Change 53.96% 58.44% 244.44%
Depreciation, Depletion And Amortization $280.0K $270.0K $280.0K
YoY Change 16.67% 22.73% 21.74%
Cash From Operating Activities $750.0K $380.0K $910.0K
YoY Change -74.23% -89.59% 810.0%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$310.0K -$130.0K
YoY Change 10.53% 55.0% -75.0%
Acquisitions
YoY Change
Other Investing Activities -$10.00K -$20.00K $500.0K
YoY Change 0.0% -99.34% -50.0%
Cash From Investing Activities -$220.0K -$330.0K $370.0K
YoY Change 4.76% -89.72% -22.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -850.0K -440.0K -910.0K
YoY Change -1162.5% -4500.0% 1037.5%
NET CHANGE
Cash From Operating Activities 750.0K 380.0K 910.0K
Cash From Investing Activities -220.0K -330.0K 370.0K
Cash From Financing Activities -850.0K -440.0K -910.0K
Net Change In Cash -320.0K -390.0K 370.0K
YoY Change -111.51% -186.67% -26.0%
FREE CASH FLOW
Cash From Operating Activities $750.0K $380.0K $910.0K
Capital Expenditures -$210.0K -$310.0K -$130.0K
Free Cash Flow $960.0K $690.0K $1.040M
YoY Change -69.03% -82.08% 67.74%

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CY2019 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACCOUNTING PRONOUNCEMENTS</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">New Accounting Pronouncements Adopted</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the Financial Accounting Standards Board (FASB) issued guidance creating Accounting Standards Codification (ASC) Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606,</div> <div style="display: inline; font-style: italic;">Revenue from Contracts with Customers</div> (ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>), which establishes a comprehensive new model for the recognition of revenue from contracts with customers. This model is based on the core principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 1, 2018, </div>the Company adopted ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div> for all customer contracts using the modified retrospective method. To determine revenue recognition for arrangements within the scope of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606,</div> the Company performs the following <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> steps: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) identify the contracts with a customer; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) identify the performance obligations in the contract; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) determine the transaction price; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) allocate the transaction price to the performance obligations in the contract; and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to, or services it performs for, the customer.</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <!-- Field: /Page --> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The adoption of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div> neither impacted the previously reported financial statements in any prior period nor did it result in a cumulative effect adjustment to retained earnings. Therefore, the adoption of the standard did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> impact the Company&#x2019;s revenue recognition process. Generally, the Company&#x2019;s performance obligations are satisfied when the customers take possession of the products, which normally occurs at the shipping point or destination depending on the terms of the contracts. The Company&#x2019;s services are generally sold based upon quotes or contracts with customers that include a fixed or determinable price, and sales arrangements do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contain any significant financing component for its customers. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recognize revenue related to product warranties, nor does the Company incur significant contract costs. Customer arrangements do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generate contract assets or liabilities.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The Company applies the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> disclose information about remaining performance obligations that have original expected durations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year or less. There are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> material obligations that extend beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year. Revenue is recognized when transfer of control occurs as defined by the terms in the customer agreement. The Company immediately recognizes incidental items that are immaterial in the context of the contract. The Company has applied the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16A</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> assess if immaterial items are promised goods or services. The Company has also applied the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> regarding the adjustment of the promised amount of consideration for the effects of a significant financing component when the customer pays for that good or service within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year or less, as the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have any significant financing components in its customer arrangements since payment is received at or shortly after the point of sale, generally <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">thirty</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ninety</div> days.</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Recently Issued Accounting Pronouncements</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the FASB issued Accounting Standards Update (ASU) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> <div style="display: inline; font-style: italic;">Leases</div>. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> was issued to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months) on the balance sheet as a lease liability and a right-of-use asset (as defined). The Company will adopt this ASU for its annual and interim periods beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 1, 2019, </div>and elected <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to restate comparative periods in transition. The Company performed a review of the</div> <div style=" font-size: 10pt; margin: 0pt 0">requirements of the new guidance and identified which of its leases will be within the scope of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div> The Company completed its adoption plan, which included a review of lease contracts, applying the new standard to the lease contracts and comparing the results to our current accounting. Effective for our quarter ending <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 30, 2019, </div>the Company will revise its lease accounting policy disclosures to reflect the requirements of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div> The Company estimates the impact of the adoption will be an increase in the range of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$500,000</div></div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$750,000</div></div> to both assets and liabilities on the consolidated balance sheet. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of this guidance will have a material impact on its consolidated results of operations or cash flows. The Company also expects additional qualitative and quantitative disclosures will be required upon adoption.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2018, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> <div style="display: inline; font-style: italic;">Income Statement &#x2013; Reporting Comprehensive Income (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">220</div>) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income</div>, which will allow a reclassification from accumulated other comprehensive income to retained earnings for the tax effects resulting from the Tax Reform Act that are stranded in accumulated other comprehensive income. This standard also requires certain disclosures about stranded tax effects. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> however, does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> change the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> will be effective for the Company&#x2019;s fiscal year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020,</div> with the option for early adoption at any time prior to the effective date. It must be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Reform Act is recognized. The Company is currently assessing the impact this new accounting guidance will have on its consolidated financial statements.</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <!-- Field: /Page --> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe any of these accounting pronouncements has had or will have a material impact on the Company&#x2019;s consolidated financial position or operating results.</div></div>
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DividendPayableDateToBePaidDayMonthAndYear
2018-11-21
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2019-02-22
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2019-05-23
CY2019Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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2019-08-21
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2017-12-21
CY2018Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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2018-02-21
CY2018Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-05-23
CY2018Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-08-22
CY2018 us-gaap Dividends
Dividends
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2018-11-07
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2019-02-06
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2019-05-09
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2019-08-07
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2017-12-08
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2018-02-07
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2018-05-09
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2018-08-08
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CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2019Q3 us-gaap Inventory Gross
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CY2018Q3 us-gaap Inventory Gross
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CY2018Q3 us-gaap Inventory Net
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CY2018Q3 us-gaap Inventory Raw Materials Net Of Reserves
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CY2019 us-gaap Investment Income Interest
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CY2018 us-gaap Investment Income Interest
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CY2018Q3 us-gaap Liabilities And Stockholders Equity
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CY2019Q3 us-gaap Liabilities Current
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CY2018Q3 us-gaap Liabilities Current
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CY2018Q3 us-gaap Machinery And Equipment Gross
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CY2018 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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400000
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-2372124
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Income Loss
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CY2019 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2019Q3 us-gaap Number Of Countries In Which Entity Operates
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60
CY2019 us-gaap Number Of Operating Segments
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2
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2
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
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CY2018Q3 us-gaap Other Accrued Liabilities Current
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CY2019Q3 us-gaap Other Assets Noncurrent
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CY2018Q3 us-gaap Other Assets Noncurrent
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153849
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-1003643
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-1162755
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
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-1162755
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CY2019 us-gaap Payments Of Dividends Common Stock
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CY2019 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
400000
CY2018 us-gaap Payments Of Dividends Minority Interest
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600000
CY2018 us-gaap Payments To Acquire Available For Sale Securities
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1518596
CY2019 us-gaap Payments To Acquire Available For Sale Securities
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3365146
CY2019 us-gaap Payments To Acquire Intangible Assets
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CY2018 us-gaap Payments To Acquire Intangible Assets
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86481
CY2019 us-gaap Payments To Acquire Interest In Joint Venture
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0
CY2018 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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960339
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019Q3 us-gaap Preferred Stock No Par Value
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CY2018Q3 us-gaap Preferred Stock No Par Value
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10000
CY2018Q3 us-gaap Preferred Stock Shares Authorized
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10000
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CY2018Q3 us-gaap Preferred Stock Shares Issued
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CY2018Q3 us-gaap Preferred Stock Shares Outstanding
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CY2018Q3 us-gaap Preferred Stock Value
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1062609
CY2018Q3 us-gaap Prepaid Expense Current
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CY2019 us-gaap Proceeds From Dividends Received
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5039041
CY2018 us-gaap Proceeds From Dividends Received
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CY2019 us-gaap Proceeds From Minority Shareholders
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134034
CY2018 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities
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3100000
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2019 us-gaap Proceeds From Stock Options Exercised
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CY2018 us-gaap Proceeds From Stock Options Exercised
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CY2019 us-gaap Proceeds From Stock Plans
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52546
CY2018 us-gaap Proceeds From Stock Plans
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27951
CY2019 us-gaap Profit Loss
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5815622
CY2018 us-gaap Profit Loss
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7222847
CY2019Q3 us-gaap Property Plant And Equipment Gross
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12964009
CY2018Q3 us-gaap Property Plant And Equipment Gross
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11917921
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7358159
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7168826
CY2019 us-gaap Research And Development Expense
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3822070
CY2018 us-gaap Research And Development Expense
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3524953
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
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44992719
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
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41963341
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22178126
CY2018Q3 us-gaap Retained Earnings Undistributed Earnings From Equity Method Investees
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20921783
CY2019 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Net Sales </div>&#x2013; The Company includes net sales to its joint ventures and net sales to unaffiliated customers as separate line items on its consolidated statements of operations. There are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> sales originating from the Company&#x2019;s joint ventures included in the amount, as the Company&#x2019;s investments in its joint ventures are accounted for using the equity method.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the Financial Accounting Standards Board (FASB) issued guidance creating Accounting Standards Codification (ASC) Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606,</div> <div style="display: inline; font-style: italic;">Revenue from Contracts with Customers</div> (ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>), which establishes a comprehensive new model for the recognition of revenue from contracts with customers. This model is based on the core principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 1, 2018, </div>the Company adopted ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div> for all customer contracts using the modified retrospective method. To determine revenue recognition for arrangements within the scope of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606,</div> the Company performs the following <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> steps: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) identify the contracts with a customer; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) identify the performance obligations in the contract; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) determine the transaction price; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) allocate the transaction price to the performance obligations in the contract; and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to, or services it performs for, the customer.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The adoption of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div> neither impacted the previously reported financial statements in any prior period nor did it result in a cumulative effect adjustment to retained earnings. Therefore, the adoption of the standard did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> impact the Company&#x2019;s revenue recognition process. Generally, the Company&#x2019;s performance obligations are satisfied when the customers take possession of the products, which normally occurs at the shipping point or destination depending on the terms of the contracts. The Company&#x2019;s services are generally sold based upon quotes or contracts with customers that include a fixed or determinable price, and sales arrangements do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contain any significant financing component for its customers. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recognize revenue related to product warranties, nor does the Company incur significant contract costs. Customer arrangements do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generate contract assets or liabilities.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Changes to the Company&#x2019;s significant accounting policies as a result of adopting ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div> are discussed below.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Revenue Recognition</div> - Revenue is measured based on consideration specified in the contract with a customer, adjusted for any applicable estimates of variable consideration and other factors affecting the transaction price, including noncash consideration, consideration paid or payable to customers, and significant financing components. While most of the Company&#x2019;s revenue is contracted with customers through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-time purchase orders and short-term contracts, the Company does have long-term arrangements with certain customers. Revenue from all customers is recognized when a performance obligation is satisfied by transferring control of a distinct good or service to a customer.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Individually promised goods and services in a contract are considered a distinct performance obligation and accounted for separately if the customer can benefit from the individual good or service on its own or with other resources that are readily available to the customer and the good or service is separately identifiable from other promises in the arrangement. When an arrangement includes multiple performance obligations, the consideration is allocated between the performance obligations in proportion to their estimated standalone selling price. Costs related to products delivered are recognized in the period incurred, unless criteria for capitalization of costs are met. Costs of revenues consist primarily of direct labor, manufacturing overhead, materials, and components. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> incur significant upfront costs to obtain a contract. If costs to obtain a contract were to become material, the costs would be recorded as an asset and amortized to expense in a manner consistent with the related recognition of revenue.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <!-- Field: Page; Sequence: 68; Value: 1 --> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">The Company excludes government assessed and imposed taxes on revenue generating transactions that are invoiced to customers from revenue. The Company includes freight billed to customers in revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The timing of revenue recognition, billing, and cash collections results in accounts receivable on the balance sheet.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Performance Obligations</div> - A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract&#x2019;s transaction price is allocated to each distinct performance obligation in proportion to its standalone selling price and recognized as revenue when, or as, the performance obligation is satisfied. The Company&#x2019;s various performance obligations and the timing or method of revenue recognition are discussed below.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The Company sells its products to both distributors and end-users. Each unit of product delivered under a customer order represents a distinct and separate performance obligation, as the customer can benefit from each unit on its own or with other resources that are readily available to the customer, and each unit of product is separately identifiable from other products in the arrangement.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The transaction price for the Company&#x2019;s products is the invoiced amount. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have variable consideration in the form of refunds, credits, rebates, price concessions, pricing incentives, or other items impacting transaction price. The purchase order pricing in arrangements with customers is deemed to approximate standalone selling price; therefore, the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> need to allocate proceeds on a relative standalone selling price allocation between performance obligations. The Company applies the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> disclose information about remaining performance obligations that have original expected durations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year or less. There are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> material obligations that extend beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">Revenue is recognized when transfer of control occurs, as defined by the terms in the customer agreement. The Company immediately recognizes incidental items that are immaterial in the context of the contract. The Company has applied the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16A</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> assess if immaterial items are promised goods or services. The Company has also applied the practical expedient in paragraph <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> regarding the adjustment of the promised amount of consideration for the effects of a significant financing component when the customer pays for that good or service within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year or less, as the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have any significant financing components in its customer arrangements since payment is received at or shortly after the point of sale, generally <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">thirty</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ninety</div> days.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">The Company estimates returns based on an analysis of historical experience if the right to return products is granted to its customers. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> record a return asset, as non-conforming products are generally <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> returned. The Company&#x2019;s return policy does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> vary by geography. The customer has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> rotation or price protection rights, and the Company is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> under a warranty obligation.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Sales Commissions</div> - Sales commissions paid to sales representatives are eligible for capitalization, as they are incremental costs that would <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have been incurred without entering into a specific sales arrangement and are recoverable through the expected margin on the transaction. The Company has elected to apply the practical expedient provided by ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">340</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div> and recognize the incremental costs of obtaining contracts as an expense when incurred, as the amortization period of the assets that would have otherwise been recognized is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year or less. The Company records these costs as a selling expense.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Product Warranty</div> - The Company offers warranties on various products and services. These warranties are assurance type warranties that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> sold on a standalone basis; therefore, they are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> considered distinct performance obligations. The Company estimates the costs that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be incurred under its warranties and records a liability in the amount of such costs at the time the revenue is recognized for the product sale.</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <!-- Field: Page; Sequence: 69; Value: 1 --> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">International Revenue</div> - The Company markets its products to numerous countries in North America, Europe, Latin America, Asia, and other parts of the world. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> Segment and Geographical Information, for information regarding revenue disaggregation by geography.</div></div></div></div></div></div></div></div></div></div></div>
CY2019 us-gaap Revenues
Revenues
55750137
CY2018 us-gaap Revenues
Revenues
51424821
CY2019 us-gaap Selling Expense
SellingExpense
10968592
CY2018 us-gaap Selling Expense
SellingExpense
10886011
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1431925
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
413010
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0132
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0218
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.458
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.459
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0275
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.29
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.13
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.80
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.18
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.23
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0187
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
640617
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.20
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
94504
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
141767
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.02
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.88
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2610422
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
615716
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
697406
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
839173
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2403847
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y328D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y21D
CY2019Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2462
CY2018Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1970
CY2018Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1748
CY2017Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1780
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8820
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
27951
CY2019 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
52546
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
15433
CY2019 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1431925
CY2018 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
413010
CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2640548
CY2019 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2018 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
56594615
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
53076745
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
59669294
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55819054
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
51718076
CY2019Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2019Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
242000
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
250000
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
248000
CY2019Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
5000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4000
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Use of Estimates</div> &#x2013; The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div>
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9415974
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9370404
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9085584
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9077676

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