View Filing Data

Print Document View Excel Document

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2012	Oct. 31, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	INTEST CORP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		10,425,178
Amendment Flag	false
Entity Central Index Key	0001036262
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 14,700	$ 13,957
Trade accounts receivable, net of allowance for doubtful accounts of $147 and $195, respectively	6,892	6,189
Inventories	3,843	3,896
Deferred tax assets	438	453
Prepaid expenses and other current assets	373	302
Total current assets	26,246	24,797
Property and equipment:
Machinery and equipment	3,844	3,585
Leasehold improvements	576	514
Gross property and equipment	4,420	4,099
Less: accumulated depreciation	(3,174)	(2,965)
Net property and equipment	1,246	1,134
Deferred tax assets	1,555	2,028
Goodwill	1,706	1,656
Intangible assets, net	2,300	942
Restricted certificates of deposit	450	500
Other assets	165	180
Total assets	33,668	31,237
Current liabilities:
Accounts payable	1,488	1,031
Accrued wages and benefits	1,538	1,795
Accrued sales commissions	524	493
Accrued rent	508	407
Accrued professional fees	407	451
Customer deposits	186	425
Other current liabilities	636	436
Total current liabilities	5,287	5,038
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value; 20,000,000 shares authorized; 10,463,255 shares issued	105	105
Addtional paid-in capital	26,010	26,035
Retained earnings (accumulated deficit)	1,269	(686)
Accumulated other comprehensive earnings	1,201	1,217
Treasury stock, at cost; 33,077 and 76,328 shares, respectively	(204)	(472)
Total stockholders' equity	28,381	26,199
Total liabilities and stockholders' equity	$ 33,668	$ 31,237

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Allowance for doubtful accounts, respectively (in Dollars)	$ 147	$ 195
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	10,463,255	10,463,255
Treasury stock, at cost, shares, respectively	33,077	76,328

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net revenues	$ 10,799	$ 11,681	$ 35,106	$ 37,185
Cost of revenues	6,037	5,548	19,554	19,161
Gross margin	4,762	6,133	15,552	18,024
Operating expenses:
Selling expense	1,322	1,461	4,283	4,433
Engineering and product development expense	1,006	809	2,910	2,444
General and administrative expense	1,445	1,448	5,101	4,748
Restructuring and other charges			359
Total operating expenses	3,773	3,718	12,653	11,625
Operating income	989	2,415	2,899	6,399
Other income (expense):
Interest income	1	2	3	8
Interest expense		(1)		(3)
Other	22	4	33	66
Total other income	23	5	36	71
Earnings before income tax expense (benefit)	1,012	2,420	2,935	6,470
Income tax expense (benefit)	348	(2,762)	980	(2,624)
Net earnings	$ 664	$ 5,182	$ 1,955	$ 9,094
Net earnings per common share - basic (in Dollars per share)	$ 0.06	$ 0.51	$ 0.19	$ 0.90
Weighted average common shares outstanding - basic (in Shares)	10,302,417	10,182,795	10,260,601	10,132,807
Net earnings per common share - diluted (in Dollars per share)	$ 0.06	$ 0.50	$ 0.19	$ 0.88
Weighted average common shares and common share equivalents outstanding - diluted (in Shares)	10,360,377	10,297,284	10,348,180	10,287,055

Consolidated Statements of Comprehensive Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net earnings	$ 664	$ 5,182	$ 1,955	$ 9,094
Foreign currency translation adjustments	26	(143)	(16)	(56)
Comprehensive earnings	$ 690	$ 5,039	$ 1,939	$ 9,038

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

Before tax and net of reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2012 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2011	$ 105	$ 26,035	$ (686)	$ 1,217	$ (472)	$ 26,199
Balance (in Shares) at Dec. 31, 2011	10,463,255					10,463,255
Net earnings			1,955			$ 1,955
Other comprehensive loss				(16)		(16)
Amortization of deferred compensation related to restricted stock		93				93
Issuance of 43,251 shares to satisfy profit sharing liability		(118)			268	150
Balance at Sep. 30, 2012	$ 105	$ 26,010	$ 1,269	$ 1,201	$ (204)	$ 28,381
Balance (in Shares) at Sep. 30, 2012	10,463,255					10,463,255

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

- Definition

Equity impact of the value of treasury stock (units) reissued during the period, excluding reissuance of shares (units) held in treasury used to satisfy equity-based compensation obligations exercised by the holders of such rights. Upon reissuance of shares (units) from treasury, either the common or preferred stock (unit) reissued is outstanding.

+ References + Details

Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2012 shares
Common Stock [Member]
Issuance of shares to satisfy profit sharing liability	43,251

Consolidated Statements of Cash Flows (Unaudited) $ in Thousands	9 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 1,955	$ 9,094
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	696	304
Foreign exchange gain	(10)	(10)
Amortization of deferred compensation related to restricted stock	93	119
Profit sharing expense funded through the issuance of treasury stock	150	150
(Gain) loss on sale of property and equipment	5	(40)
Proceeds from sale of demonstration equipment, net of gain	86	107
Deferred income tax expense (benefit)	489	(2,905)
Changes in assets and liabilities:
Trade accounts receivable	465	(601)
Inventories	926	(1,186)
Prepaid expenses and other current assets	(71)	60
Restricted certificates of deposit	50	200
Other assets	14	28
Accounts payable	380	62
Accrued wages and benefits	(255)	(63)
Accrued sales commissions	(50)	31
Accrued rent	101	320
Accrued professional fees	(44)	1
Customer deposits	(239)	341
Other current liabilities	85	(164)
Deferred rent		(39)
Net cash provided by operating activities	4,826	5,809
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of business	(3,802)
Purchase of property and equipment	(283)	(685)
Proceeds from sale of property and equipment	13	40
Net cash used in investing activitites	(4,072)	(645)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock options exercised		30
Net cash provided by financing activities		30
Effects of exchange rates on cash	(11)	(25)
Net cash provided by all activities	743	5,169
Cash and cash equivalents at beginning of period	13,957	6,895
Cash and cash equivalents at end of period	14,700	12,064
Cash payments for:
Domestic and foreign income taxes	283	171
Interest	8	1
Details of acquisition:
Fair value of assets acquired	4,026
Liabilities assumed	(274)
Goodwill resulting from acquisition	50
Net cash paid for acquisition	$ 3,802
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Forfeiture of non-vested shares of restricted stock		$ (20)

Note 1 - Nature of Operations

9 Months Ended

Sep. 30, 2012

Nature of Operations [Text Block]

(1) NATURE OF OPERATIONS

We are an independent designer, manufacturer and marketer of thermal, mechanical and electrical products that are primarily used by semiconductor manufacturers in conjunction with automatic test equipment ("ATE") in the testing of integrated circuits ("ICs" or "semiconductors"). In addition, in recent years, we have begun marketing our thermal products in industries outside the ATE industry, such as the automotive, consumer electronics, defense/aerospace and telecommunications industries.

The consolidated entity is comprised of inTEST Corporation (parent) and our wholly-owned subsidiaries. We have three reportable segments which are also our reporting units: Thermal Products, Mechanical Products and Electrical Products. We manufacture our products in the U.S. Marketing and support activities are conducted worldwide from our facilities in the U.S., Germany and Singapore. On January 16, 2012, Temptronic Corporation ("Temptronic"), a wholly-owned subsidiary of inTEST Corporation, acquired substantially all of the assets and certain liabilities of Thermonics, Inc. ("Thermonics"), a division of Test Enterprises, Inc. The acquisition of the Thermonics business broadens the product line of inTEST's Thermal Products segment. This acquisition is discussed further in Note 3.

The semiconductor industry in which we operate is characterized by rapid technological change, competitive pricing pressures and cyclical market patterns. This industry is subject to significant economic downturns at various times. Our financial results are affected by a wide variety of factors, including, but not limited to, general economic conditions worldwide and in the markets in which we operate, economic conditions specific to the semiconductor industry, our ability to safeguard patented technology and intellectual property in a rapidly evolving market, downward pricing pressures from customers, and our reliance on a relatively few number of customers for a significant portion of our sales. In addition, we are exposed to the risk of obsolescence of our inventory depending on the mix of future business and technological changes within the industry. As a result of these or other factors, we may experience significant period-to-period fluctuations in future operating results.

Note 2 - Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2012

Significant Accounting Policies [Text Block]

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Use of Estimates

The accompanying consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain of our accounts, including inventories, long-lived assets, goodwill, identifiable intangibles, deferred income tax valuation allowances and product warranty reserves, are particularly impacted by estimates.

In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position, results of operations, and changes in cash flows for the interim periods presented. Certain footnote information has been condensed or omitted from these consolidated financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission on March 30, 2012 (the "2011 Form 10-K").

Reclassification

Certain prior period amounts have been reclassified to be comparable with the current period's presentation.

Inventories

Inventory is valued at standard cost, which approximates actual cost computed on a first-in, first-out basis, not in excess of market value. Cash flows from the sale of inventory are recorded in operating cash flows. On a quarterly basis, we review our inventories and record excess and obsolete inventory charges based upon our established objective excess and obsolete inventory criteria. These criteria identify material that has not been used in a work order during the prior twelve months and the quantity of material on hand that is greater than the average annual usage of that material over the prior three years. In certain cases, additional excess and obsolete inventory charges are recorded based upon current industry conditions, anticipated product life cycles, new product introductions and expected future use of the inventory. The charges for excess and obsolete inventory we record establish a new cost basis for the related inventory. We incurred excess and obsolete inventory charges of $522 and $278 for the nine months ended September 30, 2012 and 2011, respectively.

Goodwill, Intangible and Long-Lived Assets

We account for goodwill and intangible assets in accordance with Accounting Standards Codification ("ASC") 350 (Intangibles- Goodwill and Other). Finite-lived intangible assets are amortized over their estimated useful economic life and are carried at cost less accumulated amortization. Goodwill is assessed for impairment at least annually in the fourth quarter, on a reporting unit basis, or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. In September 2011, the Financial Accounting Standards Board ("FASB") issued new guidance which provides an entity with the option to perform a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If an entity determines this is the case, it is required to perform a two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized. The two-step test is discussed below. If an entity determines that it is more-likely-than-not that the fair value of the reporting unit is greater than its carrying amounts, the two-step goodwill impairment test is not required. This new guidance was effective for fiscal years beginning after December 15, 2011. We adopted this guidance as of January 1, 2012. The adoption of this guidance did not have a material impact on our consolidated financial statements.

If we determine it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount as a result of our qualitative assessment, we will perform a quantitative two-step goodwill impairment test. In the Step I test, the fair value of a reporting unit is computed and compared with its book value. If the book value of a reporting unit exceeds its fair value, a Step II test is performed in which the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded in an amount equal to that excess. The two-step goodwill impairment assessment is based upon a combination of the income approach, which estimates the fair value of our reporting units based upon a discounted cash flow approach, and the market approach which estimates the fair value of our reporting units based upon comparable market multiples. This fair value is then reconciled to our market capitalization at year end with an appropriate control premium. The determination of the fair value of our reporting units requires management to make significant estimates and assumptions including the selection of appropriate peer group companies, control premiums, discount rate, terminal growth rates, forecasts of revenue and expense growth rates, changes in working capital, depreciation, amortization and capital expenditures. Changes in assumptions concerning future financial results or other underlying assumptions would have a significant impact on either the fair value of the reporting unit or the amount of the goodwill impairment charge.

Indefinite-lived intangible assets are assessed for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.

Long-lived assets, which consist of finite-lived intangible assets and property and equipment, are assessed for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the estimated undiscounted cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. The cash flow estimates used to determine the impairment, if any, contain management's best estimates using appropriate assumptions and projections at that time.

Stock-Based Compensation

We account for stock-based compensation in accordance with ASC Topic 718 (Compensation - Stock Compensation) which requires that employee share-based equity awards be accounted for under the fair value method and requires the use of an option pricing model for estimating fair value of stock options granted, which is then amortized to expense over the service periods. See further disclosures related to our stock-based compensation plan in Note 10.

Subsequent Events

We have made an assessment of our operations and determined that there were no material subsequent events requiring adjustment to, or disclosure in, our consolidated financial statements for the quarter ended September 30, 2012.

Revenue Recognition

We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. Sales of our products are made through our sales employees, third-party sales representatives and distributors. There are no differences in revenue recognition policies based on the sales channel. We do not provide our customers with rights of return or exchanges. Revenue is generally recognized upon product shipment. Our customers' purchase orders do not typically contain any customer-specific acceptance criteria, other than that the product performs within the agreed upon specifications. We test all products manufactured as part of our quality assurance process to determine that they comply with specifications prior to shipment to a customer. To the extent that any customer purchase order contains customer-specific acceptance criteria, revenue recognition is deferred until customer acceptance.

With respect to sales tax collected from customers and remitted to governmental authorities, we use a net presentation in our consolidated statement of operations. As a result, there are no amounts included in either our net revenues or cost of revenues related to sales tax.

Product Warranties

We generally provide product warranties and record estimated warranty expense at the time of sale based upon historical claims experience. Warranty expense is included in selling expense in the consolidated financial statements.

Restructuring and Other Charges

We recognize a liability for restructuring charges at fair value only when the liability is incurred. The three main components of our restructuring plans have been related to workforce reductions, the consolidation of excess facilities and asset impairments. Workforce-related charges are accrued when it is determined that a liability has been incurred, which is generally after individuals have been notified of their termination dates and expected severance benefits. Plans to consolidate excess facilities result in charges for lease termination fees and future commitments to pay lease charges, net of estimated future sub-lease income. We recognize these charges when we have vacated the premises. In addition, as a result of plans to consolidate excess facilities, we may incur other associated costs such as charges to relocate inventory, equipment or personnel. We recognize charges for other associated costs when these costs are incurred, which is generally when the goods or services have been provided to us. Assets that may be impaired consist of property, plant and equipment and intangible assets. Asset impairment charges are based on an estimate of the amounts and timing of future cash flows related to the expected future remaining use and ultimate sale or disposal of the asset.

Income Taxes

The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for operating loss and tax credit carryforwards and for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized.

For the nine months ended September 30, 2012 and 2011, we recorded income tax expense of $980 and an income tax benefit of $2,624, respectively. On a quarterly basis, we record income tax expense or benefit based on the expected annualized effective tax rate for the various taxing jurisdictions in which we operate our businesses. During the past several years, due to our history of operating losses in both our domestic and certain of our foreign operations, we had recorded a full valuation allowance against the deferred tax assets of these operations, including net operating loss carryforwards, where we believed it was more likely than not that we would not have sufficient taxable income to utilize these assets before they expire. During the second half of 2011, we reversed $3,110 of the valuation allowance which had been recorded against the deferred tax assets of these operations. The reversal of this amount of the valuation allowance was based on our current assessment that it is now more likely than not that we will be able to fully utilize these assets in the near future. Some of the key factors we considered in making our assessment included our profitability in both 2011 and 2010 and our level of certainty with regard to our forecasts of near term future profitability for the operations to which these assets relate.

Net Earnings (Loss) Per Common Share

Net earnings (loss) per common share - basic is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding during each period. Net earnings (loss) per common share - diluted is computed by dividing net earnings (loss) by the weighted average number of common shares and common share equivalents outstanding during each period. Common share equivalents represent stock options and unvested shares of restricted stock and are calculated using the treasury stock method. Common share equivalents are excluded from the calculation if their effect is anti-dilutive.

The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive:

	Three Months Ended Sept. 30,				Nine Months Ended Sept. 30,
	*2012*		*2011*		*2012*		*2011*
Weighted average common shares outstanding - basic		10,302,417		10,182,795		10,260,601		10,132,807
Potentially dilutive securities:
Employee stock options and unvested shares of restricted stock		57,960		114,489		87,579		154,248
Weighted average common shares and common share equivalents outstanding – diluted		10,360,377		10,297,284		10,348,180		10,287,055

Average number of potentially dilutive securities excluded from calculation		229,675		114,280		42,720		79,633

Effect of Recently Issued Amendments to Authoritative Accounting Guidance

In July 2012, the FASB issued amendments to existing guidance on the assessment of impairment for indefinite-lived intangible assets other than goodwill. The amendments permit an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. However, an entity can choose to adopt this guidance early even if its annual test date is before the issuance of the final standard, provided that the entity has not yet issued its financial statements for the most recent annual or interim period. We do not expect the adoption of this amendment to have a material impact on our consolidated financial statements.

Note 3 - Acquisition

9 Months Ended

Sep. 30, 2012

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

(3) ACQUISITION

On January 16, 2012, Temptronic acquired substantially all of the assets and certain liabilities of Thermonics pursuant to the Asset Purchase Agreement dated December 9, 2011. Thermonics is engaged in the business of designing, manufacturing, selling and distributing temperature forcing systems used in the testing of various products under temperature controlled situations. The acquisition of the Thermonics business broadens the product line of inTEST's Thermal Products segment.

The purchase price for the assets was approximately $3,802 in cash, plus the assumption of specified liabilities, including trade payables and certain customer contract obligations. In connection with this acquisition, we also signed a separate one year lease for the facility occupied by Thermonics in Sunnyvale, California. This facility is owned by the seller. We ceased operations at this facility in February 2012 and relocated the Thermonics product line to our facility in Mansfield, Massachusetts where our Temptronic operations are located. We recorded a restructuring charge in the first quarter of 2012 of $359 related to this action. See Note 5 for further detail regarding this charge.

Total acquisition costs incurred to complete this transaction were $485. The portion of these costs that was incurred in 2011 was $148. Acquisition costs are expensed as incurred and included in general and administrative expense.

The Thermonics acquisition was accounted for as a purchase business combination and, accordingly, the results of Thermonics have been included in our consolidated results of operations from the date of acquisition. The allocation of the total purchase price of Thermonics net tangible and identifiable intangible assets was based on their estimated fair values as of the acquisition date. The tangible assets acquired include accounts receivable, inventory, and property and equipment. Liabilities assumed include trade payables, certain customer contract obligations and accrued payments under a non-compete/non-solicitation agreement with a former employee of Thermonics. Identifiable intangible assets acquired include customer relationships, customer backlog, the Thermonics trade name, patented technology, and a non-compete/non-solicitation agreement with a former employee of Thermonics. The excess of the purchase price over the identifiable intangible and net tangible assets in the amount of $50 was allocated to goodwill and is deductible for tax purposes. Goodwill is attributed to the synergies that are expected to result from the operations of the combined businesses. The determination of fair value reflects the assistance of third-party valuation specialists, as well as our own estimates and assumptions.

The following represents the allocation of the purchase price:

Goodwill	$	50
Identifable intangible assets		1,728
Tangible assets acquired and liabilities assumed:
Trade accounts receivable		1,161
Inventories		874
Property and equipment		263
Accounts payable		(77	)
Accrued non-compete/non-solicitation payments		(48	)
Accrued sales commissions		(82	)
Accrued warranty		(67	)
Total purchase price	$	3,802

We estimated the fair value of identifiable intangible assets acquired using a combination of the income, cost and market approaches. We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. The following table provides further information about the finite-lived intangible assets acquired in connection with the acquisition of Thermonics as of the acquisition date:

	Fair Value		Weighted Average Estimated Useful Life (in months)
Customer relationships	$	1,110		72
Customer backlog		70		3
Thermonics trade name		140		48
Patented technology		360		132
Non-compete/non-solicitation agreement		48		18

Total intangible assets	$	1,728		78.3

For the period from January 16, 2012 to September 30, 2012, Thermonics contributed $3,467 of net revenues. We do not track net income within our Thermal Products segment by product line. As a result, the net income for Thermonics for the period from January 16, 2012 to September 30, 2012 is not available.

The following unaudited pro forma information gives effect to the acquisition of Thermonics as if the acquisition occurred on January 1, 2011. These proforma summaries do not reflect any operating efficiencies or costs savings that may be achieved by the combined businesses. These proforma summaries are presented for informational purposes only and are not necessarily indicative of what the actual results of operations would have been had the acquisition taken place as of that date, nor are they indicative of future consolidated results of operations:

	Three Months Ended Sept. 30,				Nine Months Ended Sept. 30,
	*2012*		*2011*		*2012*		*2011*

Net revenues	$	10,799	$	13,223	$	35,322	$	41,268
Net earnings		658		5,417		2,537		8,093
Diluted earnings per share	$	0.06	$	0.53	$	0.25	$	0.79

The proforma results for 2011 shown above include non-recurring charges of $337 which represent transaction costs related to the Thermonics acquisition and $359 which represent facility closure costs related to the relocation of Thermonics' operations.

Note 4 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2012

Goodwill and Intangible Assets Disclosure [Text Block]

(4) GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008 and Thermonics in January 2012. The acquisition of Thermonics is discussed further in Note 3.

Goodwill

All of our goodwill is allocated to our Thermal Products segment. Changes in the amount of the carrying value of goodwill for the nine months ended September 30, 2012 are as follows:

	*Sigma*		*Thermonics*		*Total*

Balance - January 1, 2012	$	1,656	$	-	$	1,656
Acquisition of Thermonics		-		50		50
Balance - September 30, 2012	$	1,656	$	50	$	1,706

Intangible Assets

The following table provides further detail about our intangible assets as of September 30, 2012 and December 31, 2011:

	*Sept. 30, 2012*
	Gross Carrying Amount		*Accumulated* *Amortization*		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	377	$	1,103
Patented technology		590		212		378
Software		270		108		162
Trade name		140		25		115
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		16		32
Total finite-lived intangible assets		2,598		808		1,790
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	808	$	2,300

	*December 31, 2011*
	*Gross* *Carrying* *Amount*		*Accumulated* *Amortization*		*Net* *Carrying* *Amount*
Finite-lived intangible assets:
Customer relationships	$	370	$	200	$	170
Patented technology		230		150		80
Software		270		88		182
Total finite-lived intangible assets		870		438		432
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	1,380	$	438	$	942

We generally amortize our finite-lived intangible assets over their estimated useful lives on a straightline basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our intangible assets have any residual value. The following table provides further information about the estimated useful lives of our finite-lived intangible assets as of September 30, 2012:

	Estimated Useful Life		Remaining Estimated Useful Life at Sept. 30, 2012
	- - - - (in months) - - - -
Finite-lived intangible assets resulting from the acquisition of Sigma:
Customer relationships		72		24
Software		120		72
Patented technology		60		12
Finite-lived intangible assets resulting from the acquisition of Thermonics:
Customer relationships		72		63.5
Customer backlog		3		-
Trade name		48		39.5
Patented technology		132		123.5
Non-compete/non-solicitation agreement		18		12

The following table sets forth changes in the amount of the carrying value of finite-lived intangible assets for the nine months ended September 30, 2012:

Balance - January 1, 2012	$	432
Acquisition of Thermonics		1,728
Amortization		(370	)
Balance - September 30, 2012	$	1,790

Total amortization expense for the nine months ended September 30, 2012 and 2011 was $370 and $101, respectively. Total estimated amortization expense for 2012 is $476. The following table sets forth the estimated annual amortization expense for our finite-lived intangible assets for each of the next five years:

2013	$	446
2014	$	355
2015	$	289
2016	$	229
2017	$	212

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Note 5 - Restructuring and Other Charges

9 Months Ended

Sep. 30, 2012

Restructuring and Related Activities Disclosure [Text Block]

(5) RESTRUCTURING AND OTHER CHARGES

In connection with the acquisition of Thermonics, as discussed further in Note 3, we signed a separate one year lease for the facility in Sunnyvale, California occupied by Thermonics at the time of the acquisition. This facility is owned by the seller. We ceased operations at this facility in February 2012 and relocated the Thermonics product line to our facility in Mansfield, Massachusetts where our Temptronic operations are located. During the first quarter of 2012, we incurred approximately $359 of facility closure costs related to this action. These costs included lease termination fees of approximately $220 and other costs associated with this consolidation of facilities, including the cost to relocate inventory and equipment, of approximately $139. Accrued restructuring and other charges are included in Other Current Liabilities on our balance sheet.

Changes in our liability for restructuring and other charges for the nine months ended September 30, 2012 are summarized as follows:

	Thermonics Relocation
Balance - January 1, 2012	$	-
Accruals for facility closure costs		359
Cash payments related to facility closure costs		(359	)
Balance - September 30, 2012	$	-

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

Note 6 - Major Customers

9 Months Ended

Sep. 30, 2012

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

(6) MAJOR CUSTOMERS

During the nine months ended September 30, 2012 and 2011, Texas Instruments Incorporated accounted for 16% and 12%, respectively, of our consolidated net revenues. While all three of our operating segments sold products to this customer, these revenues were primarily generated by our Mechanical Products and our Electrical Products segments. During the nine months ended September 30, 2012, Teradyne, Inc. accounted for 13% of our consolidated net revenues. While both our Mechanical Products and our Electrical Products segments sold products to this customer, these revenues were primarily generated by our Electrical Products segment. No other customer accounted for 10% or more of our consolidated net revenues during the nine months ended September 30, 2012 and 2011.

Note 7 - Inventories

9 Months Ended

Sep. 30, 2012

Inventory Disclosure [Text Block]

(7) INVENTORIES

Inventories held at September 30, 2012 and December 31, 2011 were comprised of the following:

	Sept. 30, 2012		Dec. 31, 2011
Raw materials	$	2,916	$	2,784
Work in process		370		351
Inventory consigned to others		96		201
Finished goods		461		560
	$	3,843	$	3,896

Note 8 - Debt

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Text Block]

(8) DEBT

Letters of Credit

We have issued letters of credit as the security deposits for certain of our domestic leases. These letters of credit are secured by pledged certificates of deposit which are classified as Restricted Certificates of Deposit on our balance sheet. The terms of our leases require us to renew these letters of credit at least 30 days prior to their expiration dates for successive terms of not less than one year until lease expiration. Our outstanding letters of credit at September 30, 2012 and December 31, 2011 consisted of the following:

Letters of Credit
Amount Outstanding

Facility

Original L/C
Issue Date

L/C

Expiration
Date

Lease

Expiration
Date

Sept. 30,
2012

Dec. 31,
2011

Mt. Laurel, NJ

3/29/2010

4/01/2013

4/30/2021

250

Mansfield, MA

10/27/2010

11/07/2012

8/23/2021

200

San Jose, CA

9/13/2004

6/30/2012

4/30/2012

450

500

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Note 9 - Guarantees

9 Months Ended

Sep. 30, 2012

Guarantees [Text Block]

(9) GUARANTEES

Product Warranties

Warranty expense for the nine months ended September 30, 2012 and 2011 was $68 and $90, respectively. The following table sets forth the changes in the liability for product warranties for the nine months ended September 30, 2012:

Balance - January 1, 2012	$	214
Acquisition of Thermonics		67
Payments made under product warranty		(124	)
Accruals for product warranty		68
Balance - September 30, 2012	$	225

The liability for product warranties is included in Other Current Liabilities on our balance sheet.

Note 10 - Stock-Based Compensation

9 Months Ended

Sep. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(10) STOCK-BASED COMPENSATION

As of September 30, 2012, we had outstanding stock options and unvested restricted stock awards granted under stock-based employee compensation plans that are described more fully in Note 15 to the consolidated financial statements in our 2011 Form 10-K.

As of September 30, 2012, total compensation expense to be recognized in future periods was $139. The weighted average period over which this expense is expected to be recognized is 1.4 years. All of this expense is related to nonvested shares of restricted stock.

Restricted Stock Awards

We record compensation expense for restricted stock awards (nonvested shares) based on the quoted market price of our stock at the grant date and amortize the expense over the vesting period. Restricted stock awards generally vest over four years. The following table shows the allocation of the compensation expense we recorded during the three and nine months ended September 30, 2012 and 2011, respectively, related to nonvested shares:

	Three Months Ended Sept. 30,				*Nine Months Ended* *Sept. 30,*
	*2012*		*2011*		*2012*		*2011*
Cost of revenues	$	1	$	3	$	5	$	9
Selling expense		3		3		7		13
Engineering and product development expense		7		8		19		34
General and administrative expense		21		18		62		63
	$	32	$	32	$	93	$	119

There was no compensation expense capitalized in the three or nine months ended September 30, 2012 or 2011.

The following table summarizes the activity related to nonvested shares for the nine months ended September 30, 2012:

	Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares outstanding, January 1, 2012		195,000		$	1.62
Granted		-			-
Vested		(76,250	)		1.62
Forfeited		-			-
Nonvested shares outstanding, September 30, 2012		118,750			1.61

Stock Options

The following table summarizes the stock option activity for the nine months ended September 30, 2012:

	Number of Shares			Weighted Average Exercise Price
Options outstanding, January 1, 2012 (249,000 exercisable)		249,000		$	3.28
Granted		-			-
Exercised		-			-
Forfeited/Expired		(30,000	)		4.11
Options outstanding, September 30, 2012 (219,000 exercisable)		219,000			3.17

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Note 11 - Employee Benefit Plans

9 Months Ended

Sep. 30, 2012

Pension and Other Postretirement Benefits Disclosure [Text Block]

(11) EMPLOYEE BENEFIT PLANS

We have a defined contribution 401(k) plan for our employees who work in the U.S. (the "inTEST 401(k) Plan"). All permanent employees of inTEST Corporation and inTEST Silicon Valley Corp who are at least 18 years of age are eligible to participate in the plan. We match employee contributions dollar for dollar up to 10% of the employee's annual compensation, with a maximum limit of $5. Employer contributions vest over four years. Matching contributions are discretionary.

Temptronic adopted a defined contribution 401(k) plan for its domestic employees in 1988, that was merged into the inTEST 401(k) Plan effective September 1, 2002. The inTEST 401(k) Plan retains the matching provisions of the prior Temptronic plan for all Temptronic employees. Temptronic matches employee contributions $0.50 on the dollar up to 6% of the employees' annual compensation, with a maximum limit of $3. Matching contributions are discretionary. The eligibility and vesting provisions of the prior Temptronic plan have been conformed to those for inTEST Corporation and inTEST Silicon Valley Corporation employees.

In addition to the employer matching for which Temptronic employees are eligible, upon the termination of the Temptronic Equity Participation Plan ("EPP"), we also acknowledged that it was our intention to contribute $3,000 in the aggregate to the inTEST 401(k) Plan as a form of profit sharing (not to exceed $300 per year) for the benefit of Temptronic employees. The amount of these contributions approximates the amount that we had been committed to contribute to the EPP as of its termination date. All such profit sharing contributions are at the discretion of management, and will be allocated to employees annually in the same manner in which the shares held by the EPP had been allocated. The vesting provisions for these contributions are the same as those of the inTEST 401(k) Plan. Accruals for profit sharing contributions totaling $225 were made during the each of the nine months ended September 30, 2012 and 2011, respectively. Through September 30, 2012, we had made a total of $2,078 in profit sharing contributions. We have historically funded these contributions through the use of treasury shares during the quarter subsequent to the quarter in which we record the profit sharing liability, although management has the discretion to use cash to fund these contributions. Our current intention is to use cash to fund these contributions when our stock price is below $3.00 per share.

During the third quarter of 2012, our Board of Directors approved an amendment to the inTEST 401(k) Plan. The amendment will terminate the profit sharing contributions for Temptronic employees effective December 31, 2012. In addition, the amendment will conform the employer matching provisions of the Plan for the Temptronic employees with those currently in place for inTEST Corporation and inTEST Silicon Valley employees.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Note 12 - Segment Information

9 Months Ended

Sep. 30, 2012

Segment Reporting Disclosure [Text Block]

(12) SEGMENT INFORMATION

We have three reportable segments, which are also our reporting units: Thermal Products, Mechanical Products and Electrical Products.

The Thermal Products segment includes the operations of Temptronic Corporation, Thermonics (which we acquired in January 2012 as discussed further in Note 3), Sigma Systems Corp., Temptronic GmbH (Germany), and inTEST Pte, Limited (Singapore). Sales of this segment consist primarily of temperature management systems which we design, manufacture and market under our Temptronic, Thermonics and Sigma Systems product lines. In addition, this segment provides post warranty service and support.

The Mechanical Products segment includes the operations of our Mt. Laurel, New Jersey manufacturing facility. Sales of our Mechanical Products segment consist primarily of manipulator and docking hardware products, which we design, manufacture and market. In addition, this segment provides post warranty service and support for various ATE equipment.

The Electrical Products segment includes the operations of inTEST Silicon Valley Corporation. Sales of this segment consist primarily of tester interface products which we design, manufacture and market.

We operate our business worldwide, and all three segments sell their products both domestically and internationally. All three segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers. Our Thermal Products segment also sells into a variety of industries outside of the semiconductor industry, including the automotive, consumer electronics, defense/aerospace and telecommunications industries. Intercompany pricing between segments is either a multiple of cost for component parts or list price for finished goods.

	*Three Months Ended* *Sept. 30,*						*Nine Months Ended* *Sept. 30,*
*Net revenues from unaffiliated customers:*	*2012*			*2011*			*2012*			*2011*
Thermal Products	$	6,037		$	7,572		$	18,651		$	19,593
Mechanical Products		2,677			3,172			8,277			13,299
Electrical Products		2,086			941			8,189			4,327
Intersegment sales		(1	)		(4	)		(11	)		(34	)
	$	10,799		$	11,681		$	35,106		$	37,185
*Intersegment sales:*
Thermal Products	$	-		$	-		$	-		$	-
Mechanical Products		-			3			10			7
Electrical Products		1			1			1			27
	$	1		$	4		$	11		$	34
*Earnings (loss) before income tax expense (benefit):*
Thermal Products	$	895		$	2,346		$	2,267		$	4,939
Mechanical Products		(324	)		218			(1,256	)		1,330
Electrical Products		376			(65	)		2,115			615
Corporate		65			(79	)		(191	)		(414	)
	$	1,012		$	2,420		$	2,935		$	6,470
*Net earnings (loss):*
Thermal Products	$	587		$	5,024		$	1,510		$	6,942
Mechanical Products		(213	)		466			(837	)		1,869
Electrical Products		247			(138	)		1,409			865
Corporate		43			(170	)		(127	)		(582	)
	$	664		$	5,182		$	1,955		$	9,094

*Identifiable assets:*	*Sept. 30,* *2012*		*Dec. 31,* *2011*
Thermal Products	$	21,950	$	20,030
Mechanical Products		6,344		8,240
Electrical Products		5,374		2,967
	$	33,668	$	31,237

The following table provides information about our geographic areas of operation. Net revenues from unaffiliated customers are based on the location to which the goods are shipped.

	*Three Months Ended* *Sept. 30,*				*Nine Months Ended* *Sept. 30,*
*Net revenues from unaffiliated customers:*	*2012*		*2011*		*2012*		*2011*
U.S.	$	4,123	$	4,797	$	12,052	$	13,820
Foreign		6,676		6,884		23,054		23,365
	$	10,799	$	11,681	$	35,106	$	37,185

*Long-lived assets:*	*Sept. 30,* *2012*		*Dec. 31,* *2011*
U.S.	$	995	$	836
Foreign		251		298
	$	1,246	$	1,134

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Accounting Policies, by Policy (Policies)	9 Months Ended
Accounting Policies, by Policy (Policies)	Sep. 30, 2012
Basis of Presentation and Use of Estimates [Policy Text Block]	*Basis of Presentation and Use of Estimates* The accompanying consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain of our accounts, including inventories, long-lived assets, goodwill, identifiable intangibles, deferred income tax valuation allowances and product warranty reserves, are particularly impacted by estimates. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position, results of operations, and changes in cash flows for the interim periods presented. Certain footnote information has been condensed or omitted from these consolidated financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission on March 30, 2012 (the "2011 Form 10-K").
Reclassification, Policy [Policy Text Block]	*Reclassification* Certain prior period amounts have been reclassified to be comparable with the current period's presentation.
Inventory, Policy [Policy Text Block]	*Inventories* Inventory is valued at standard cost, which approximates actual cost computed on a first-in, first-out basis, not in excess of market value. Cash flows from the sale of inventory are recorded in operating cash flows. On a quarterly basis, we review our inventories and record excess and obsolete inventory charges based upon our established objective excess and obsolete inventory criteria. These criteria identify material that has not been used in a work order during the prior twelve months and the quantity of material on hand that is greater than the average annual usage of that material over the prior three years. In certain cases, additional excess and obsolete inventory charges are recorded based upon current industry conditions, anticipated product life cycles, new product introductions and expected future use of the inventory. The charges for excess and obsolete inventory we record establish a new cost basis for the related inventory. We incurred excess and obsolete inventory charges of $522 and $278 for the nine months ended September 30, 2012 and 2011, respectively.
Goodwill Intangible and Long Lived Assets [Policy Text Block]	*Goodwill, Intangible and Long-Lived Assets* We account for goodwill and intangible assets in accordance with Accounting Standards Codification ("ASC") 350 (Intangibles- Goodwill and Other). Finite-lived intangible assets are amortized over their estimated useful economic life and are carried at cost less accumulated amortization. Goodwill is assessed for impairment at least annually in the fourth quarter, on a reporting unit basis, or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. In September 2011, the Financial Accounting Standards Board ("FASB") issued new guidance which provides an entity with the option to perform a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If an entity determines this is the case, it is required to perform a two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized. The two-step test is discussed below. If an entity determines that it is more-likely-than-not that the fair value of the reporting unit is greater than its carrying amounts, the two-step goodwill impairment test is not required. This new guidance was effective for fiscal years beginning after December 15, 2011. We adopted this guidance as of January 1, 2012. The adoption of this guidance did not have a material impact on our consolidated financial statements. If we determine it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount as a result of our qualitative assessment, we will perform a quantitative two-step goodwill impairment test. In the Step I test, the fair value of a reporting unit is computed and compared with its book value. If the book value of a reporting unit exceeds its fair value, a Step II test is performed in which the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded in an amount equal to that excess. The two-step goodwill impairment assessment is based upon a combination of the income approach, which estimates the fair value of our reporting units based upon a discounted cash flow approach, and the market approach which estimates the fair value of our reporting units based upon comparable market multiples. This fair value is then reconciled to our market capitalization at year end with an appropriate control premium. The determination of the fair value of our reporting units requires management to make significant estimates and assumptions including the selection of appropriate peer group companies, control premiums, discount rate, terminal growth rates, forecasts of revenue and expense growth rates, changes in working capital, depreciation, amortization and capital expenditures. Changes in assumptions concerning future financial results or other underlying assumptions would have a significant impact on either the fair value of the reporting unit or the amount of the goodwill impairment charge. Indefinite-lived intangible assets are assessed for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. Long-lived assets, which consist of finite-lived intangible assets and property and equipment, are assessed for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the estimated undiscounted cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. The cash flow estimates used to determine the impairment, if any, contain management's best estimates using appropriate assumptions and projections at that time.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	*Stock-Based Compensation* We account for stock-based compensation in accordance with ASC Topic 718 (Compensation - Stock Compensation) which requires that employee share-based equity awards be accounted for under the fair value method and requires the use of an option pricing model for estimating fair value of stock options granted, which is then amortized to expense over the service periods. See further disclosures related to our stock-based compensation plan in Note 10.
Subsequent Events, Policy [Policy Text Block]	*Subsequent Events* We have made an assessment of our operations and determined that there were no material subsequent events requiring adjustment to, or disclosure in, our consolidated financial statements for the quarter ended September 30, 2012.
Revenue Recognition, Policy [Policy Text Block]	*Revenue Recognition* We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. Sales of our products are made through our sales employees, third-party sales representatives and distributors. There are no differences in revenue recognition policies based on the sales channel. We do not provide our customers with rights of return or exchanges. Revenue is generally recognized upon product shipment. Our customers' purchase orders do not typically contain any customer-specific acceptance criteria, other than that the product performs within the agreed upon specifications. We test all products manufactured as part of our quality assurance process to determine that they comply with specifications prior to shipment to a customer. To the extent that any customer purchase order contains customer-specific acceptance criteria, revenue recognition is deferred until customer acceptance. With respect to sales tax collected from customers and remitted to governmental authorities, we use a net presentation in our consolidated statement of operations. As a result, there are no amounts included in either our net revenues or cost of revenues related to sales tax.
Standard Product Warranty, Policy [Policy Text Block]	*Product Warranties* We generally provide product warranties and record estimated warranty expense at the time of sale based upon historical claims experience. Warranty expense is included in selling expense in the consolidated financial statements.
Restructuring and Other Charges [Policy Tex tBlock]	*Restructuring and Other Charges* We recognize a liability for restructuring charges at fair value only when the liability is incurred. The three main components of our restructuring plans have been related to workforce reductions, the consolidation of excess facilities and asset impairments. Workforce-related charges are accrued when it is determined that a liability has been incurred, which is generally after individuals have been notified of their termination dates and expected severance benefits. Plans to consolidate excess facilities result in charges for lease termination fees and future commitments to pay lease charges, net of estimated future sub-lease income. We recognize these charges when we have vacated the premises. In addition, as a result of plans to consolidate excess facilities, we may incur other associated costs such as charges to relocate inventory, equipment or personnel. We recognize charges for other associated costs when these costs are incurred, which is generally when the goods or services have been provided to us. Assets that may be impaired consist of property, plant and equipment and intangible assets. Asset impairment charges are based on an estimate of the amounts and timing of future cash flows related to the expected future remaining use and ultimate sale or disposal of the asset.
Income Tax, Policy [Policy Text Block]	*Income Taxes* The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for operating loss and tax credit carryforwards and for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized. For the nine months ended September 30, 2012 and 2011, we recorded income tax expense of $980 and an income tax benefit of $2,624, respectively. On a quarterly basis, we record income tax expense or benefit based on the expected annualized effective tax rate for the various taxing jurisdictions in which we operate our businesses. During the past several years, due to our history of operating losses in both our domestic and certain of our foreign operations, we had recorded a full valuation allowance against the deferred tax assets of these operations, including net operating loss carryforwards, where we believed it was more likely than not that we would not have sufficient taxable income to utilize these assets before they expire. During the second half of 2011, we reversed $3,110 of the valuation allowance which had been recorded against the deferred tax assets of these operations. The reversal of this amount of the valuation allowance was based on our current assessment that it is now more likely than not that we will be able to fully utilize these assets in the near future. Some of the key factors we considered in making our assessment included our profitability in both 2011 and 2010 and our level of certainty with regard to our forecasts of near term future profitability for the operations to which these assets relate.
Earnings Per Share, Policy [Policy Text Block]	*Net Earnings (Loss) Per Common Share* Net earnings (loss) per common share - basic is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding during each period. Net earnings (loss) per common share - diluted is computed by dividing net earnings (loss) by the weighted average number of common shares and common share equivalents outstanding during each period. Common share equivalents represent stock options and unvested shares of restricted stock and are calculated using the treasury stock method. Common share equivalents are excluded from the calculation if their effect is anti-dilutive. The table below sets forth, for the periods indicated, a reconciliation of weighted average common shares outstanding - basic to weighted average common shares and common share equivalents outstanding - diluted and the average number of potentially dilutive securities that were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive:
New Accounting Pronouncements, Policy [Policy Text Block]	*Effect of Recently Issued Amendments to Authoritative Accounting Guidance* In July 2012, the FASB issued amendments to existing guidance on the assessment of impairment for indefinite-lived intangible assets other than goodwill. The amendments permit an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. If an entity believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. However, an entity can choose to adopt this guidance early even if its annual test date is before the issuance of the final standard, provided that the entity has not yet issued its financial statements for the most recent annual or interim period. We do not expect the adoption of this amendment to have a material impact on our consolidated financial statements.

Note 2 - Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]

	Three Months Ended Sept. 30,				Nine Months Ended Sept. 30,
	*2012*		*2011*		*2012*		*2011*
Weighted average common shares outstanding - basic		10,302,417		10,182,795		10,260,601		10,132,807
Potentially dilutive securities:
Employee stock options and unvested shares of restricted stock		57,960		114,489		87,579		154,248
Weighted average common shares and common share equivalents outstanding – diluted		10,360,377		10,297,284		10,348,180		10,287,055

Average number of potentially dilutive securities excluded from calculation		229,675		114,280		42,720		79,633

Note 3 - Acquisition (Tables)

9 Months Ended

Sep. 30, 2012

Thermonics [Member]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	Fair Value		Weighted Average Estimated Useful Life (in months)
Customer relationships	$	1,110		72
Customer backlog		70		3
Thermonics trade name		140		48
Patented technology		360		132
Non-compete/non-solicitation agreement		48		18

Total intangible assets	$	1,728		78.3

Schedule of Purchase Price Allocation [Table Text Block]

Goodwill	$	50
Identifable intangible assets		1,728
Tangible assets acquired and liabilities assumed:
Trade accounts receivable		1,161
Inventories		874
Property and equipment		263
Accounts payable		(77	)
Accrued non-compete/non-solicitation payments		(48	)
Accrued sales commissions		(82	)
Accrued warranty		(67	)
Total purchase price	$	3,802

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	*Sept. 30, 2012*
	Gross Carrying Amount		*Accumulated* *Amortization*		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	377	$	1,103
Patented technology		590		212		378
Software		270		108		162
Trade name		140		25		115
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		16		32
Total finite-lived intangible assets		2,598		808		1,790
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	808	$	2,300

	*December 31, 2011*
	*Gross* *Carrying* *Amount*		*Accumulated* *Amortization*		*Net* *Carrying* *Amount*
Finite-lived intangible assets:
Customer relationships	$	370	$	200	$	170
Patented technology		230		150		80
Software		270		88		182
Total finite-lived intangible assets		870		438		432
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	1,380	$	438	$	942

Business Acquisition, Pro Forma Information [Table Text Block]

	Three Months Ended Sept. 30,				Nine Months Ended Sept. 30,
	*2012*		*2011*		*2012*		*2011*

Net revenues	$	10,799	$	13,223	$	35,322	$	41,268
Net earnings		658		5,417		2,537		8,093
Diluted earnings per share	$	0.06	$	0.53	$	0.25	$	0.79

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Note 4 - Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2012

Useful Life [Member]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	Estimated Useful Life		Remaining Estimated Useful Life at Sept. 30, 2012
	- - - - (in months) - - - -
Finite-lived intangible assets resulting from the acquisition of Sigma:
Customer relationships		72		24
Software		120		72
Patented technology		60		12
Finite-lived intangible assets resulting from the acquisition of Thermonics:
Customer relationships		72		63.5
Customer backlog		3		-
Trade name		48		39.5
Patented technology		132		123.5
Non-compete/non-solicitation agreement		18		12

Carrying Value Changes [Member]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Balance - January 1, 2012	$	432
Acquisition of Thermonics		1,728
Amortization		(370	)
Balance - September 30, 2012	$	1,790

Schedule of Goodwill [Table Text Block]

	*Sigma*		*Thermonics*		*Total*

Balance - January 1, 2012	$	1,656	$	-	$	1,656
Acquisition of Thermonics		-		50		50
Balance - September 30, 2012	$	1,656	$	50	$	1,706

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	*Sept. 30, 2012*
	Gross Carrying Amount		*Accumulated* *Amortization*		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	1,480	$	377	$	1,103
Patented technology		590		212		378
Software		270		108		162
Trade name		140		25		115
Customer backlog		70		70		-
Non-compete/non-solicitation agreement		48		16		32
Total finite-lived intangible assets		2,598		808		1,790
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	3,108	$	808	$	2,300

	*December 31, 2011*
	*Gross* *Carrying* *Amount*		*Accumulated* *Amortization*		*Net* *Carrying* *Amount*
Finite-lived intangible assets:
Customer relationships	$	370	$	200	$	170
Patented technology		230		150		80
Software		270		88		182
Total finite-lived intangible assets		870		438		432
Indefinite-lived intangible assets:
Sigma trademark		510		-		510
Total intangible assets	$	1,380	$	438	$	942

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

2013	$	446
2014	$	355
2015	$	289
2016	$	229
2017	$	212

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References + Details

Note 5 - Restructuring and Other Charges (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Restructuring and Related Costs [Table Text Block]

	Thermonics Relocation
Balance - January 1, 2012	$	-
Accruals for facility closure costs		359
Cash payments related to facility closure costs		(359	)
Balance - September 30, 2012	$	-

Note 7 - Inventories (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Inventory, Current [Table Text Block]

	Sept. 30, 2012		Dec. 31, 2011
Raw materials	$	2,916	$	2,784
Work in process		370		351
Inventory consigned to others		96		201
Finished goods		461		560
	$	3,843	$	3,896

Note 8 - Debt (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Outstanding Letters Of Credit [Table Text Block]

Letters of Credit
Amount Outstanding

Facility

Original L/C
Issue Date

L/C

Expiration
Date

Lease

Expiration
Date

Sept. 30,
2012

Dec. 31,
2011

Mt. Laurel, NJ

3/29/2010

4/01/2013

4/30/2021

250

Mansfield, MA

10/27/2010

11/07/2012

8/23/2021

200

San Jose, CA

9/13/2004

6/30/2012

4/30/2012

450

500

Note 9 - Guarantees (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Product Warranty Liability [Table Text Block]

Balance - January 1, 2012	$	214
Acquisition of Thermonics		67
Payments made under product warranty		(124	)
Accruals for product warranty		68
Balance - September 30, 2012	$	225

Note 10 - Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Three Months Ended Sept. 30,				*Nine Months Ended* *Sept. 30,*
	*2012*		*2011*		*2012*		*2011*
Cost of revenues	$	1	$	3	$	5	$	9
Selling expense		3		3		7		13
Engineering and product development expense		7		8		19		34
General and administrative expense		21		18		62		63
	$	32	$	32	$	93	$	119

Schedule of Nonvested Share Activity [Table Text Block]

	Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares outstanding, January 1, 2012		195,000		$	1.62
Granted		-			-
Vested		(76,250	)		1.62
Forfeited		-			-
Nonvested shares outstanding, September 30, 2012		118,750			1.61

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Number of Shares			Weighted Average Exercise Price
Options outstanding, January 1, 2012 (249,000 exercisable)		249,000		$	3.28
Granted		-			-
Exercised		-			-
Forfeited/Expired		(30,000	)		4.11
Options outstanding, September 30, 2012 (219,000 exercisable)		219,000			3.17

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

Note 12 - Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Three and Nine Months Ended [Member]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Three Months Ended* *Sept. 30,*						*Nine Months Ended* *Sept. 30,*
*Net revenues from unaffiliated customers:*	*2012*			*2011*			*2012*			*2011*
Thermal Products	$	6,037		$	7,572		$	18,651		$	19,593
Mechanical Products		2,677			3,172			8,277			13,299
Electrical Products		2,086			941			8,189			4,327
Intersegment sales		(1	)		(4	)		(11	)		(34	)
	$	10,799		$	11,681		$	35,106		$	37,185
*Intersegment sales:*
Thermal Products	$	-		$	-		$	-		$	-
Mechanical Products		-			3			10			7
Electrical Products		1			1			1			27
	$	1		$	4		$	11		$	34
*Earnings (loss) before income tax expense (benefit):*
Thermal Products	$	895		$	2,346		$	2,267		$	4,939
Mechanical Products		(324	)		218			(1,256	)		1,330
Electrical Products		376			(65	)		2,115			615
Corporate		65			(79	)		(191	)		(414	)
	$	1,012		$	2,420		$	2,935		$	6,470
*Net earnings (loss):*
Thermal Products	$	587		$	5,024		$	1,510		$	6,942
Mechanical Products		(213	)		466			(837	)		1,869
Electrical Products		247			(138	)		1,409			865
Corporate		43			(170	)		(127	)		(582	)
	$	664		$	5,182		$	1,955		$	9,094

	*Three Months Ended* *Sept. 30,*				*Nine Months Ended* *Sept. 30,*
*Net revenues from unaffiliated customers:*	*2012*		*2011*		*2012*		*2011*
U.S.	$	4,123	$	4,797	$	12,052	$	13,820
Foreign		6,676		6,884		23,054		23,365
	$	10,799	$	11,681	$	35,106	$	37,185

Schedule of Segment Reporting Information, by Segment [Table Text Block]

*Identifiable assets:*	*Sept. 30,* *2012*		*Dec. 31,* *2011*
Thermal Products	$	21,950	$	20,030
Mechanical Products		6,344		8,240
Electrical Products		5,374		2,967
	$	33,668	$	31,237

*Long-lived assets:*	*Sept. 30,* *2012*		*Dec. 31,* *2011*
U.S.	$	995	$	836
Foreign		251		298
	$	1,246	$	1,134

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Note 2 - Summary of Significant Accounting Policies (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Sep. 30, 2012	Sep. 30, 2011
Inventory Adjustments (in Dollars)	$ 522	$ 278		$ 522	$ 278
Income Tax Expense (Benefit) (in Dollars)	$ 348	$ (2,762)		$ 980	$ (2,624)
Valuation Allowance, Deferred Tax Asset, Change in Amount (in Dollars)			$ (3,110)

Note 2 - Summary of Significant Accounting Policies (Detail) - Weighted Average Common Shares - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Weighted average common shares outstanding - basic	10,302,417	10,182,795	10,260,601	10,132,807
Potentially dilutive securities:
Employee stock options and unvested shares of restricted stock	57,960	114,489	87,579	154,248
Weighted average common shares and common share equivalents outstanding – diluted	10,360,377	10,297,284	10,348,180	10,287,055
Average number of potentially dilutive securities excluded from calculation	229,675	114,280	42,720	79,633

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Note 3 - Acquisition (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
Note 3 - Acquisition (Detail) - USD ($) $ in Thousands	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Closure Costs [Member] \| Thermonics [Member]
Restructuring Charges						$ 359
Business Acquisition, Cost of Acquired Entity, Purchase Price	$ 3,802			$ 3,802	$ 3,802
Restructuring Charges		$ 359			359
Business Acquisition, Cost of Acquired Entity, Transaction Costs	485		$ 337	485	485	337	$ 148
Business Acquisition, Purchase Price Allocation, Goodwill Amount	50			50	50
Revenues	$ 10,799		$ 11,681	$ 3,467	$ 35,106	$ 37,185

Note 3 - Acquisition (Detail) - Allocation of the Purchase Price: $ in Thousands	Sep. 30, 2012 USD ($)
Assets and Liabilities Assumed [Member]
Trade accounts receivable	$ 1,161
Inventories	874
Property and equipment	263
Accounts payable	(77)
Accrued non-compete/non-solicitation payments	(48)
Accrued sales commissions	(82)
Accrued warranty	(67)
Goodwill	50
Identifable intangible assets	1,728
Total purchase price	$ 3,802

Note 3 - Acquisition (Detail) - Finite-Lived Intangible Assets Acquired with Acquisition of Thermonics $ in Thousands	9 Months Ended
	Sep. 30, 2012 USD ($)
Fair Value [Member] \| Customer Relationships [Member]
Fair Value (in Dollars)	$ 1,110
Fair Value [Member] \| Customer Backlog [Member]
Fair Value (in Dollars)	70
Fair Value [Member] \| Trade Names [Member]
Fair Value (in Dollars)	140
Fair Value [Member] \| Patented Technology [Member]
Fair Value (in Dollars)	360
Fair Value [Member] \| Noncompete Agreements [Member]
Fair Value (in Dollars)	48
Fair Value [Member]
Fair Value (in Dollars)	$ 1,728
Customer Relationships [Member]
Weighted Average Estimated Useful Life	72 months
Customer Backlog [Member]
Weighted Average Estimated Useful Life	3 months
Trade Names [Member]
Weighted Average Estimated Useful Life	48 months
Patented Technology [Member]
Weighted Average Estimated Useful Life	132 months
Noncompete Agreements [Member]
Weighted Average Estimated Useful Life	18 months
Weighted Average Estimated Useful Life	78 months 9 days

Note 3 - Acquisition (Detail) - Proforma Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenues [Member]
Net revenues	$ 10,799	$ 13,223	$ 35,322	$ 41,268
Net earnings	$ 658	$ 5,417	$ 2,537	$ 8,093
Diluted earnings per share (in Dollars per share)	$ 0.06	$ 0.53	$ 0.25	$ 0.79

- Definition

The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References + Details

Note 4 - Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2012
Scenario, Forecast [Member]
Amortization of Intangible Assets			$ 476
Amortization of Intangible Assets	$ 370	$ 101

Note 4 - Goodwill and Intangible Assets (Detail) - Changes in the Amount of the Carrying Value of Goodwill $ in Thousands	9 Months Ended
	Sep. 30, 2012 USD ($)
Sigma [Member]
Balance	$ 1,656
Balance	1,656
Thermonics [Member]
Acquisition of Thermonics	50
Balance	50
Balance	1,656
Acquisition of Thermonics	50
Balance	$ 1,706

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Note 4 - Goodwill and Intangible Assets (Detail) - Intangible Assets - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Gross Carrying Amounts [Member] \| Trademarks [Member]
Indefinite-lived intangible assets:
Gross Carrying Amount	$ 510	$ 510
Total intangible assets	3,108
Net Carrying Amount	510	510
Total intangible assets	3,108
Gross Carrying Amounts [Member] \| Customer Relationships [Member]
Finite-lived intangible assets:
Gross Carrying Amount	1,480	370
Gross Carrying Amounts [Member] \| Patented Technology [Member]
Finite-lived intangible assets:
Gross Carrying Amount	590	230
Gross Carrying Amounts [Member] \| Computer Software, Intangible Asset [Member]
Finite-lived intangible assets:
Gross Carrying Amount	270	270
Gross Carrying Amounts [Member] \| Trade Names [Member]
Finite-lived intangible assets:
Gross Carrying Amount	140
Gross Carrying Amounts [Member] \| Customer Backlog [Member]
Finite-lived intangible assets:
Gross Carrying Amount	70
Gross Carrying Amounts [Member] \| Noncompete Agreements [Member]
Finite-lived intangible assets:
Gross Carrying Amount	48
Gross Carrying Amounts [Member]
Finite-lived intangible assets:
Gross Carrying Amount	2,598	870
Indefinite-lived intangible assets:
Total intangible assets		1,380
Total intangible assets		1,380
Accumulated Amortization [Member] \| Trademarks [Member]
Finite-lived intangible assets:
Accumulated Amortization	808
Indefinite-lived intangible assets:
Total intangible assets	808
Total intangible assets	808
Accumulated Amortization [Member] \| Customer Relationships [Member]
Finite-lived intangible assets:
Accumulated Amortization	377	200
Indefinite-lived intangible assets:
Total intangible assets	377	200
Total intangible assets	377	200
Accumulated Amortization [Member] \| Patented Technology [Member]
Finite-lived intangible assets:
Accumulated Amortization	212	150
Indefinite-lived intangible assets:
Total intangible assets	212	150
Total intangible assets	212	150
Accumulated Amortization [Member] \| Computer Software, Intangible Asset [Member]
Finite-lived intangible assets:
Accumulated Amortization	108	88
Indefinite-lived intangible assets:
Total intangible assets	108	88
Total intangible assets	108	88
Accumulated Amortization [Member] \| Trade Names [Member]
Finite-lived intangible assets:
Accumulated Amortization	25
Indefinite-lived intangible assets:
Total intangible assets	25
Total intangible assets	25
Accumulated Amortization [Member] \| Customer Backlog [Member]
Finite-lived intangible assets:
Accumulated Amortization	70
Indefinite-lived intangible assets:
Total intangible assets	70
Total intangible assets	70
Accumulated Amortization [Member] \| Noncompete Agreements [Member]
Finite-lived intangible assets:
Accumulated Amortization	16
Indefinite-lived intangible assets:
Total intangible assets	16
Total intangible assets	16
Accumulated Amortization [Member]
Finite-lived intangible assets:
Accumulated Amortization	808	438
Indefinite-lived intangible assets:
Total intangible assets	808	438
Total intangible assets	808	438
Net Carrying Amount [Member] \| Trademarks [Member]
Indefinite-lived intangible assets:
Gross Carrying Amount	510	510
Total intangible assets	2,300
Net Carrying Amount	510	510
Total intangible assets	2,300
Net Carrying Amount [Member] \| Customer Relationships [Member]
Finite-lived intangible assets:
Net Carrying Amount	1,103	170
Net Carrying Amount [Member] \| Patented Technology [Member]
Finite-lived intangible assets:
Net Carrying Amount	378	80
Net Carrying Amount [Member] \| Computer Software, Intangible Asset [Member]
Finite-lived intangible assets:
Net Carrying Amount	162	182
Net Carrying Amount [Member] \| Trade Names [Member]
Finite-lived intangible assets:
Net Carrying Amount	115
Net Carrying Amount [Member] \| Noncompete Agreements [Member]
Finite-lived intangible assets:
Net Carrying Amount	32
Net Carrying Amount [Member]
Finite-lived intangible assets:
Net Carrying Amount	1,790	432
Indefinite-lived intangible assets:
Total intangible assets		942
Total intangible assets		942
Net Carrying Amount	1,790	432
Total intangible assets	2,300	942
Total intangible assets	$ 2,300	$ 942

Note 4 - Goodwill and Intangible Assets (Detail) - Estimated Useful Lives of Finite Lived Intangible Assets	9 Months Ended
	Sep. 30, 2012
Estimated Useful Life [Member] \| Sigma [Member] \| Customer Relationships [Member]
- - - - (in months) - - - -
Estimated Useful Life	72 months
Estimated Useful Life [Member] \| Sigma [Member] \| Computer Software, Intangible Asset [Member]
- - - - (in months) - - - -
Estimated Useful Life	120 months
Estimated Useful Life [Member] \| Sigma [Member] \| Patented Technology [Member]
- - - - (in months) - - - -
Estimated Useful Life	60 months
Estimated Useful Life [Member] \| Thermonics [Member] \| Customer Relationships [Member]
- - - - (in months) - - - -
Estimated Useful Life	72 months
Estimated Useful Life [Member] \| Thermonics [Member] \| Patented Technology [Member]
- - - - (in months) - - - -
Estimated Useful Life	132 months
Estimated Useful Life [Member] \| Thermonics [Member] \| Customer Backlog [Member]
- - - - (in months) - - - -
Estimated Useful Life	3 months
Estimated Useful Life [Member] \| Thermonics [Member] \| Trade Names [Member]
- - - - (in months) - - - -
Estimated Useful Life	48 months
Estimated Useful Life [Member] \| Thermonics [Member] \| Noncompete Agreements [Member]
- - - - (in months) - - - -
Estimated Useful Life	18 months
Remaining Estimated Useful Life [Member] \| Sigma [Member] \| Customer Relationships [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	24 months
Remaining Estimated Useful Life [Member] \| Sigma [Member] \| Computer Software, Intangible Asset [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	72 months
Remaining Estimated Useful Life [Member] \| Sigma [Member] \| Patented Technology [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	12 months
Remaining Estimated Useful Life [Member] \| Thermonics [Member] \| Customer Relationships [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	63 months 15 days
Remaining Estimated Useful Life [Member] \| Thermonics [Member] \| Patented Technology [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	123 months 15 days
Remaining Estimated Useful Life [Member] \| Thermonics [Member] \| Trade Names [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	39 months 15 days
Remaining Estimated Useful Life [Member] \| Thermonics [Member] \| Noncompete Agreements [Member]
- - - - (in months) - - - -
Remaining Estimated Useful Life	12 months
Customer Relationships [Member]
- - - - (in months) - - - -
Estimated Useful Life	72 months
Patented Technology [Member]
- - - - (in months) - - - -
Estimated Useful Life	132 months
Customer Backlog [Member]
- - - - (in months) - - - -
Estimated Useful Life	3 months
Trade Names [Member]
- - - - (in months) - - - -
Estimated Useful Life	48 months
Noncompete Agreements [Member]
- - - - (in months) - - - -
Estimated Useful Life	18 months
Estimated Useful Life	78 months 9 days

Note 4 - Goodwill and Intangible Assets (Detail) - Changes in the Amount of the Carrying Value of Finite-Lived Intangible Assets - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Thermonics [Member]
Acquisition of Thermonics	$ 1,728
Balance - January 1, 2012	432
Amortization	(370)	$ (101)
Balance - September 30, 2012	$ 1,790

Note 4 - Goodwill and Intangible Assets (Detail) - Future Amortization Expense $ in Thousands	Sep. 30, 2012 USD ($)
2013	$ 446
2014	355
2015	289
2016	229
2017	$ 212

Note 5 - Restructuring and Other Charges (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2012	Sep. 30, 2012
Termination Fees [Member]
Restructuring Charges	$ 220
Relocation Fees [Member]
Restructuring Charges	139
Restructuring Charges	$ 359	$ 359

Note 5 - Restructuring and Other Charges (Detail) - Liability for Restructuring and Other Charges - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2012	Sep. 30, 2012
Balance - January 1, 2012	$ 0	$ 0
Accruals for facility closure costs	$ 359	359
Cash payments related to facility closure costs		(359)
Balance - September 30, 2012		$ 0

Note 6 - Major Customers (Detail)	9 Months Ended
Note 6 - Major Customers (Detail)	Sep. 30, 2012	Sep. 30, 2011
Texas Instruments Incorporated [Member]
Concentration Risk, Percentage	16.00%	12.00%
Teradyne Inc [Member]
Concentration Risk, Percentage	13.00%

Note 7 - Inventories (Detail) - Inventories - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Raw materials	$ 2,916	$ 2,784
Work in process	370	351
Inventory consigned to others	96	201
Finished goods	461	560
	$ 3,843	$ 3,896

Note 8 - Debt (Detail) - Outstanding Letters of Credit - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Dec. 31, 2011
Mt. Laurel [Member]
Original L/C Issue Date	Dec. 31, 2010
L/C Expiration Date	4/01/2013
Lease Expiration Date	Dec. 31, 2021
Letters of Credit Amount Outstanding	$ 250	$ 250
Mansfield [Member]
Original L/C Issue Date	Dec. 31, 2010
L/C Expiration Date	11/07/2012
Lease Expiration Date	Dec. 31, 2021
Letters of Credit Amount Outstanding	$ 200	200
San Jose [Member]
Original L/C Issue Date	Dec. 31, 2004
L/C Expiration Date	6/30/2012
Lease Expiration Date	Dec. 31, 2012
Letters of Credit Amount Outstanding		50
Letters of Credit Amount Outstanding	$ 450	$ 500

Note 9 - Guarantees (Detail) - USD ($) $ in Thousands	9 Months Ended
Note 9 - Guarantees (Detail) - USD ($) $ in Thousands	Sep. 30, 2012	Sep. 30, 2011
Product Warranty Expense	$ 68	$ 90

Note 9 - Guarantees (Detail) - Warranty Liability - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Balance - January 1, 2012	$ 214
Acquisition of Thermonics	67
Payments made under product warranty	(124)
Accruals for product warranty	68	$ 90
Balance - September 30, 2012	$ 225

Note 10 - Stock-Based Compensation (Detail) $ in Thousands	9 Months Ended
Note 10 - Stock-Based Compensation (Detail) $ in Thousands	Sep. 30, 2012 USD ($)
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized (in Dollars)	$ 139
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	1 year 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years

Note 10 - Stock-Based Compensation (Detail) - Allocation of Share-Based Compensation Expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Cost of Sales [Member]
Allocated Share-Based Compensation Expense	$ 1	$ 3	$ 5	$ 9
Selling Expense [Member]
Allocated Share-Based Compensation Expense	3	3	7	13
Engineering and Product Development Expense [Member]
Allocated Share-Based Compensation Expense	7	8	19	34
General and Administrative Expense [Member]
Allocated Share-Based Compensation Expense	21	18	62	63
Total [Member]
Allocated Share-Based Compensation Expense	$ 32	$ 32	$ 93	$ 119

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Note 10 - Stock-Based Compensation (Detail) - Nonvested Shares	9 Months Ended
	Sep. 30, 2012 $ / shares shares
Nonvested shares outstanding, January 1, 2012 \| shares	195,000
Nonvested shares outstanding, January 1, 2012 (in Dollars per share) \| $ / shares	$ 1.62
Nonvested shares outstanding, September 30, 2012 \| shares	118,750
Nonvested shares outstanding, September 30, 2012 (in Dollars per share) \| $ / shares	$ 1.61
Vested \| shares	(76,250)
Vested (in Dollars per share) \| $ / shares	$ 1.62

- Definition

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

+ References + Details

Note 10 - Stock-Based Compensation (Detail) - Stock Option Activity	9 Months Ended
	Sep. 30, 2012 $ / shares shares
Options outstanding, January 1, 2012 (249,000 exercisable) \| shares	249,000
Options outstanding, January 1, 2012 (249,000 exercisable) (in Dollars per share) \| $ / shares	$ 3.28
Options outstanding, September 30, 2012 (219,000 exercisable) \| shares	219,000
Options outstanding, September 30, 2012 (219,000 exercisable) (in Dollars per share) \| $ / shares	$ 3.17
Forfeited/Expired \| shares	(30,000)
Forfeited/Expired (in Dollars per share) \| $ / shares	$ 4.11

Note 11 - Employee Benefit Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Temptronic Facility [Member]
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent	6.00%
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount	$ 3
Maximum Contribution Per Dollar	0.50
Maximum Aggregate [Member]
Profit Sharing Contribution Total Planned Contribution	$ 3,000
Maximum Annual [Member]
Profit Sharing Contribution Annual Planned Contribution	$ 300
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent	10.00%
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount	$ 5
Defined Contribution Plan Employer Matching Contribution Vesting Period	4 years
Defined Contribution Plan, Cost Recognized	$ 225	$ 225
Profit Sharing Contribution Cumulative Contribution To Date	$ 2,078
Minimum Stock Price before Cash is Used to Fund Contributions (in Dollars per share)	$ 3.00

Note 12 - Segment Information (Detail)	9 Months Ended
Note 12 - Segment Information (Detail)	Sep. 30, 2012
Number of Reportable Segments	3

Note 12 - Segment Information (Detail) - Segment Information - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2011
Thermal Products [Member]
Net revenues from unaffiliated customers	$ 6,037	$ 7,572	$ 18,651		$ 19,593
Mechanical Products [Member]
Net revenues from unaffiliated customers	2,677	3,172	8,277		13,299
Electrical Products [Member]
Net revenues from unaffiliated customers	2,086	941	8,189		4,327
Intersegment Sales [Member]
Net revenues from unaffiliated customers	(1)	(4)	(11)		(34)
UNITED STATES
Net earnings (loss):
U.S.	4,123	4,797	12,052		13,820
Foreign [Member]
Net earnings (loss):
Foreign	6,676	6,884	23,054		23,365
Revenues [Member]
Net revenues from unaffiliated customers	10,799	11,681	35,106		37,185
Thermal Products [Member]
Net earnings (loss):
Net earnings (loss)	587	5,024	1,510		6,942
Mechanical Products [Member]
Net earnings (loss):
Net earnings (loss)	(213)	466	(837)		1,869
Electrical Products [Member]
Net earnings (loss):
Net earnings (loss)	247	(138)	1,409		865
Corporate [Member]
Net earnings (loss):
Net earnings (loss)	43	(170)	(127)		(582)
Mechanical Products [Member]
Intersegment sales:
Intersegment sales		3	10		7
Electrical Products [Member]
Intersegment sales:
Intersegment sales	1	1	1		27
Thermal Products [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	895	2,346	2,267		4,939
Mechanical Products [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	(324)	218	(1,256)		1,330
Electrical Products [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	376	(65)	2,115		615
Corporate Product [Member]
Earnings (loss) before income tax expense (benefit):
Earnings (loss) before income tax expense (benefit)	65	(79)	(191)		(414)
Net revenues from unaffiliated customers	10,799	11,681	35,106	$ 3,467	37,185
Intersegment sales	1	4	11		34
Earnings (loss) before income tax expense (benefit)	1,012	2,420	2,935		6,470
Net earnings (loss):
Net earnings (loss)	$ 664	$ 5,182	$ 1,955		$ 9,094

Note 12 - Segment Information (Detail) - Segment Information Identifiable Assets & Long Lived Assets - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Thermal Products [Member]
Identifiable assets	$ 21,950	$ 20,030
Mechanical Products [Member]
Identifiable assets	6,344	8,240
Electrical Products [Member]
Identifiable assets	5,374	2,967
UNITED STATES
U.S.	995	836
Foreign [Member]
Foreign	251	298
Identifiable assets	33,668	31,237
	$ 1,246	$ 1,134