Annual report pursuant to Section 13 and 15(d)

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Equity [Text Block]




Authorized Shares


The Company is authorized to issue two classes of capital stock consisting of up to 5,000,000 shares of preferred stock, $0.001 par value, and 50,000,000 shares of common stock, $0.001 par value.




The Company declared and paid cash dividends of $0.20 per common share during each quarter of 2023 and 2022, totaling an aggregate of $9.2 million and $9.1 million during 2023 and 2022, respectively. Declaration and payment of any future dividends on shares of common stock will be at the sole discretion of the Company’s Board of Directors.


Stock Repurchases


On January 12, 2016, the Board of Directors authorized an increase to the Company’s stock repurchase program first approved on July 28, 2015 from $15.0 million to $70.0 million. Any repurchases will be made in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Exchange Act. For all or a portion of the authorized repurchase amount, the Company may enter into one or more plans that are compliant with Rule 10b5-1 of the Exchange Act that are designed to facilitate these purchases. The stock repurchase program does not require the Company to acquire a specific number of shares, and may be suspended from time to time or discontinued. As of December 31, 2023, $21.9 million of the $70.0 million stock repurchase program remained available for future purchases, inclusive of related estimated income tax.


Accumulated Other Comprehensive Loss


The changes in accumulated other comprehensive loss by component for 2023 were as follows (in thousands):



Foreign Currency Translation Adjustments


Unrealized Gains (Losses) on Available-For-Sale Investments




Balance, December 31, 2022

  $ (988 )   $ (16 )   $ (1,004 )

Other comprehensive income (loss)

    (69 )     4       (65 )

Balance, December 31, 2023

  $ (1,057 )   $ (12 )   $ (1,069 )