$TAIT
TAITRON COMPONENTS INC

2022 Q4 Form 10-K Financial Statement

#000118518523000299 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $1.781M $8.423M $2.269M
YoY Change -21.51% -2.55% 17.56%
Cost Of Revenue $908.0K $4.030M $1.117M
YoY Change -18.71% -10.88% 22.75%
Gross Profit $873.0K $4.393M $1.152M
YoY Change -24.22% 6.6% 12.94%
Gross Profit Margin 49.02% 52.15% 50.77%
Selling, General & Admin $534.0K $2.158M $502.0K
YoY Change 6.37% 6.36% -11.93%
% of Gross Profit 61.17% 49.12% 43.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.00K $135.0K $49.00K
YoY Change 10.2% -25.0% -2.0%
% of Gross Profit 6.19% 3.07% 4.25%
Operating Expenses $534.0K $2.158M $502.0K
YoY Change 6.37% 6.36% -10.36%
Operating Profit $339.0K $2.235M $650.0K
YoY Change -47.85% 6.84% 41.3%
Interest Expense $18.00K $40.00K $4.000K
YoY Change 350.0% 110.53% -60.0%
% of Operating Profit 5.31% 1.79% 0.62%
Other Income/Expense, Net $40.00K -$449.0K $136.0K
YoY Change -70.59% -256.45% -43.33%
Pretax Income $397.0K $1.826M $790.0K
YoY Change -49.75% -23.85% 11.27%
Income Tax $328.0K -$1.382M $385.0K
% Of Pretax Income 82.62% -75.68% 48.73%
Net Earnings $69.00K $3.208M $405.0K
YoY Change -82.96% 59.6% -42.96%
Net Earnings / Revenue 3.87% 38.09% 17.85%
Basic Earnings Per Share
Diluted Earnings Per Share $0.01 $0.53 $68.42K
COMMON SHARES
Basic Shares Outstanding 5.996M shares 5.996M shares
Diluted Shares Outstanding 6.035M shares 6.035M shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.251M $7.251M $7.540M
YoY Change -3.83% -3.83% 13.38%
Cash & Equivalents $5.217M $5.217M $5.974M
Short-Term Investments $2.034M $2.034M $1.566M
Other Short-Term Assets $148.0K $148.0K $173.0K
YoY Change -14.45% -14.45% 246.0%
Inventory $3.900M $3.900M $5.261M
Prepaid Expenses
Receivables $683.0K $683.0K $900.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.98M $11.98M $13.87M
YoY Change -13.64% -13.64% 27.75%
LONG-TERM ASSETS
Property, Plant & Equipment $2.922M $2.922M $3.055M
YoY Change -4.35% -4.35% -5.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $186.0K $186.0K $193.0K
YoY Change -3.63% 0.0% 1.58%
Other Assets $2.047M $2.047M $7.000K
YoY Change 29142.86% 29142.86%
Total Long-Term Assets $5.155M $5.155M $3.248M
YoY Change 58.71% 58.71% -4.47%
TOTAL ASSETS
Total Short-Term Assets $11.98M $11.98M $13.87M
Total Long-Term Assets $5.155M $5.155M $3.248M
Total Assets $17.14M $17.14M $17.12M
YoY Change 0.09% 0.09% 20.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $211.0K $211.0K $1.813M
YoY Change -88.36% -88.36% 342.2%
Accrued Expenses $790.0K $790.0K $924.0K
YoY Change -14.5% -14.5% 105.33%
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 $1.001M $1.001M $2.737M
YoY Change -63.43% -63.43% 218.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.001M $1.001M $2.737M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.001M $1.001M $2.737M
YoY Change -63.43% -63.43% 168.33%
SHAREHOLDERS EQUITY
Retained Earnings $4.781M $3.276M
YoY Change 45.94%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.14M $16.14M $14.39M
YoY Change
Total Liabilities & Shareholders Equity $17.14M $17.14M $17.12M
YoY Change 0.09% 0.09% 20.07%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income $69.00K $3.208M $405.0K
YoY Change -82.96% 59.6% -42.96%
Depreciation, Depletion And Amortization $54.00K $135.0K $49.00K
YoY Change 10.2% -25.0% -2.0%
Cash From Operating Activities $1.344M $1.691M $379.0K
YoY Change 254.62% -6.16% -34.66%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $2.000K -$2.000K
YoY Change -200.0% -111.11% -80.0%
Acquisitions
YoY Change
Other Investing Activities $34.00K -$966.0K -$143.0K
YoY Change -123.78% -38.31%
Cash From Investing Activities $32.00K -$968.0K -$145.0K
YoY Change -122.07% -38.89% 1350.0%
FINANCING ACTIVITIES
Cash Dividend Paid $1.703M
YoY Change 76.48%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -299.0K -$1.495M -244.0K
YoY Change 22.54% 68.17% 22.0%
NET CHANGE
Cash From Operating Activities 1.344M $1.691M 379.0K
Cash From Investing Activities 32.00K -$968.0K -145.0K
Cash From Financing Activities -299.0K -$1.495M -244.0K
Net Change In Cash 1.077M -$757.0K -10.00K
YoY Change -10870.0% 12.82% -102.7%
FREE CASH FLOW
Cash From Operating Activities $1.344M $1.691M $379.0K
Capital Expenditures $2.000K $2.000K -$2.000K
Free Cash Flow $1.342M $1.689M $381.0K
YoY Change 252.23% -7.2% -35.42%

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CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1495000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-889000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-7000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-757000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-678000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5974000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6652000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5217000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5974000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022 us-gaap Revenue Recognition Sales Returns Reserve For Sales Returns
RevenueRecognitionSalesReturnsReserveForSalesReturns
0 usd
CY2021 us-gaap Revenue Recognition Sales Returns Reserve For Sales Returns
RevenueRecognitionSalesReturnsReserveForSalesReturns
1000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
706000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4000 usd
CY2022 us-gaap Notes Reduction
NotesReduction
0 usd
CY2021 us-gaap Notes Reduction
NotesReduction
163000 usd
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Reclassifications</b></p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net income. Prior period results reflect reclassifications, for comparative purposes, related to the change in the purchase of marketable securities, sales of marketable securities, and changes in values of marketable securities.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Concentration of Risk</b></p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">A significant number of the products we distribute are manufactured in Taiwan, Hong Kong, China, South Korea and the Philippines. The purchase of goods manufactured in foreign countries is subject to a number of risks, including economic disruptions, transportation delays and interruptions, foreign exchange rate fluctuations, imposition of tariffs and import and export controls and changes in governmental policies, any of which could have a material adverse effect on our business and results of operations.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The ability to remain competitive with respect to the pricing of imported components could be adversely affected by increases in tariffs or duties, changes in trade treaties, strikes in air or sea transportation, and possible future U.S. legislation with respect to pricing and import quotas on products from foreign countries. For example, it is possible that political or economic developments in China, or with respect to the relationship of the United States with China, could have an adverse effect on our business. Our ability to remain competitive could also be affected by other government actions related to, among other things, anti-dumping legislation and international currency fluctuations. While we do not believe that any of these factors adversely impact our business at present, we cannot provide assurance that these factors will not materially adversely affect us in the future. Any significant disruption in the delivery of merchandise from our suppliers, substantially all of whom are foreign, could also have a material adverse impact on our business and results of operations. Management estimates that over 90% of our products purchased were produced in Asia.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Grand Shine Electronics and Zowie Technology (see also Note 5 – Other Assets) together accounted for approximately 49.1% and 45.7% of our net purchases for each of the fiscal years 2022 and 2021, respectively. However, we do not regard any one supplier as essential to our operations, since equivalent replacements for most of our products are either available from one or more of our other suppliers or are available from various other sources at competitive prices. We believe that, even if we lose our direct relationship with a supplier, there exist alternative sources for a supplier’s products.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We had customers accounting for more than 10% of our net sales. In 2022, we had two customers each for approximately 46% and 24%, and in 2021, we had two customers each for approximately 41% and 18%.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We had customers accounting for more than 10% of our trade accounts receivable, net of allowances. As of December 31, 2022, we had one customer of approximately 78% and as of December 31, 2021 we had two customers each of approximately 39% and 37%.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2022 us-gaap Revenues
Revenues
8423000 usd
CY2021 us-gaap Revenues
Revenues
8643000 usd
CY2022 us-gaap Revenues
Revenues
8423000 usd
CY2021 us-gaap Revenues
Revenues
8643000 usd
CY2022 tait Allowance For Sales Returns Restocking Fee Description
AllowanceForSalesReturnsRestockingFeeDescription
10% to 30% of the net sales price
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5069000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4892000 usd
CY2022 us-gaap Provision For Other Losses
ProvisionForOtherLosses
180000 usd
CY2021 us-gaap Provision For Other Losses
ProvisionForOtherLosses
150000 usd
CY2022 tait Reversal Of Inventory Reserves
ReversalOfInventoryReserves
3000 usd
CY2021 tait Reversal Of Inventory Reserves
ReversalOfInventoryReserves
17000 usd
CY2022 tait Reversal Of Inventory Reserves
ReversalOfInventoryReserves
3000 usd
CY2021 tait Reversal Of Inventory Reserves
ReversalOfInventoryReserves
17000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
224567 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.1
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M18D
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
2000 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
4000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Use of Estimates</b></p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Our management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. These estimates have a significant impact on our valuation and reserve accounts relating to income taxes, the allowance for sales returns and allowances, doubtful accounts and inventory reserves. Actual results could differ from these estimates.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
497000 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
66000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5069000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4892000 usd
CY2022 us-gaap Provision For Other Losses
ProvisionForOtherLosses
180000 usd
CY2021 us-gaap Provision For Other Losses
ProvisionForOtherLosses
150000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7545000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7543000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4623000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4488000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2922000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3055000 usd
CY2022 us-gaap Depreciation
Depreciation
135000 usd
CY2021 us-gaap Depreciation
Depreciation
180000 usd
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
189000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4000 usd
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
193000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-7000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
186000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
148000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
120400 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.57
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M12D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
128000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
35000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.028 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.012 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.053 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.042 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.16 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.29 pure
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
295500 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.92
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y4M24D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
359000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
51100 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.59
CY2021 tait Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsWeightedAverageRemainingContractualTerm1
P7Y6M
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
51333 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.48
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1200 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.38
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
294067 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.45
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
492000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
60500 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.54
CY2022 tait Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsWeightedAverageRemainingContractualTerm1
P7Y6M
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
120000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.74
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.4
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.04
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.045
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.05
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
563000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
318000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
96000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
70000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
659000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
388000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-89000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
124000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-37000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
88000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1915000 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
212000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2041000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1382000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
388000 usd
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3208000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2010000 usd
CY2021Q4 us-gaap Undistributed Earnings
UndistributedEarnings
1499000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
389000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
503000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
99000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
55000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1915000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-212000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
45000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
42000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1382000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
388000 usd
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1513000 usd
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1460000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
2000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
2000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
23000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
22000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
539000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
539000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
107000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
21000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2184000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2044000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1915000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2184000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
129000 usd
CY2022Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
137000 usd
CY2021Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
129000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
137000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
129000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2047000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0 usd
CY2021 us-gaap Undistributed Earnings
UndistributedEarnings
1047000 usd
CY2021Q4 tait Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
1499000 usd
CY2021 tait Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
1047000 usd
CY2021Q4 tait Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
3208000 usd
CY2021 tait Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
2010000 usd
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5996180 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5838699 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6035180 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5919699 shares
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
41000 usd
CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
36000 usd
CY2022Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
628000 usd
CY2021Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
3723000 usd
CY2022 us-gaap Revenues
Revenues
8423000 usd
CY2021 us-gaap Revenues
Revenues
8643000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2922000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3055000 usd
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000942126

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