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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2011	Feb. 29, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	TRANSACT TECHNOLOGIES INC
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		9,410,562
Entity Public Float			$ 104,500,000
Amendment Flag	false
Entity Central Index Key	0001017303
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY

TRANSACT TECHNOLOGIES INCORPORATED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 6,863	$ 11,285
Accounts receivable, net	9,583	10,864
Inventories	14,151	12,795
Refundable income taxes	446
Deferred tax assets	1,636	1,705
Other current assets	375	403
Total current assets	33,054	37,052
Fixed assets, net	3,358	4,071
Goodwill	2,518	1,469
Deferred tax assets	890	789
Intangible assets, net of accumulated amortization of $730 and $475, respectively	2,861	221
Other assets	59	19
	9,686	6,569
Total assets	42,740	43,621
Current liabilities:
Accounts payable	3,019	8,342
Accrued liabilities	2,672	2,865
Deferred revenue	141	320
Total current liabilities	5,832	11,527
Deferred revenue, net of current portion	224	295
Deferred rent, net of current portion	357	393
Accrued contingent consideration (Note 4)	680
Other liabilities	334	272
	1,595	960
Total liabilities	7,427	12,487
Shareholders’ equity:
Common stock, $0.01 par value, 20,000,000 authorized at December 31, 2011 and 2010; 10,851,955 and 10,612,881 shares issued; 9,390,262 and 9,426,443 shares outstanding, at December 31, 2011 and 2010, respectively	108	106
Additional paid-in capital	25,058	22,875
Retained earnings	21,613	16,937
Accumulated other comprehensive loss, net of tax	(71)	(69)
Treasury stock, 1,461,693 and 1,186,438 shares, at cost	(11,395)	(8,715)
Total shareholders’ equity	35,313	31,134
Total liabilities and shareholders’ equity	$ 42,740	$ 43,621

TRANSACT TECHNOLOGIES INCORPORATED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Preferred Stock [Member]
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	4,800,000	4,800,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Preferred Stock [Member]
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Accumulated amortization (in Dollars)	$ 730	$ 475
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	10,851,955	10,612,881
Common stock, shares outstanding	9,390,262	9,426,443
Treasury shares	1,461,693	1,186,438

TRANSACT TECHNOLOGIES INCORPORATED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Net sales	$ 65,969	$ 63,194	$ 58,346
Cost of sales	41,343	40,646	39,517
Gross profit	24,626	22,548	18,829
Operating expenses:
Engineering, design and product development	3,418	3,000	2,788
Selling and marketing	6,402	6,407	5,821
General and administrative	7,633	7,280	6,924
Business consolidation and restructuring (Note 9)	184
	17,637	16,687	15,533
Operating income	6,989	5,861	3,296
Interest and other income (expense):
Interest expense	(69)	(96)	(70)
Interest income	87	87	20
Other, net	1	(25)	(33)
	19	(34)	(83)
Income before income taxes	7,008	5,827	3,213
Income tax provision	2,332	1,923	1,073
Net income	$ 4,676	$ 3,904	$ 2,140
Net income per common share:
Basic (in Dollars per share)	$ 0.50	$ 0.42	$ 0.23
Diluted (in Dollars per share)	$ 0.49	$ 0.41	$ 0.23
Shares used in per-share calculation:
Basic (in Shares)	9,443	9,390	9,289
Diluted (in Shares)	9,603	9,590	9,377

TRANSACT TECHNOLOGIES INCORPORATED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME (In thousands, except share data) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Comprehensive Income [Member]	Total
Comprehensive income:
Balance, December 31, 2011							$ 31,134
Issuance of shares from exercise of stock options	$ 2	$ 957					959
Issuance of shares from exercise of stock options (in Shares)	239,074
Issuance of deferred stock units		141					141
Purchase of treasury stock				$ (2,680)			(2,680)
Purchase of treasury stock (in Shares)	(275,255)
Tax benefit (charge) related to employee stock sales and vesting of restricted stock		498					498
Share-based compensation expense		587					587
Foreign currency translation adj., net of tax					$ (2)	$ (2)	(2)
Net income			$ 4,676			4,676	4,676
Period End Date at Dec. 31, 2010							$ 31,134
Period End Date (in Shares) at Dec. 31, 2010							10,612,881
Comprehensive income:
Balance, December 31, 2011							$ 31,134
Balance, December 31, 2011 (in Shares) at Dec. 31, 2011	9,390,262						10,851,955
Comprehensive income:
Balance, December 31, 2011	$ 108	$ 25,058	$ 21,613	$ (11,395)	$ (71)	$ 4,674	$ 35,313

TRANSACT TECHNOLOGIES INCORPORATED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net income	$ 4,676	$ 3,904	$ 2,140
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	587	565	640
Incremental tax benefits from stock options exercised	(498)	(21)	(79)
Depreciation and amortization	1,608	1,549	1,757
Deferred income taxes	519	540	1,002
Loss on sale of fixed assets	24	2
Foreign currency transaction (gains) losses	(6)	21	33
Changes in operating assets and liabilities:
Accounts receivable	1,977	(1,878)	(263)
Inventories	(568)	(6,851)	3,968
Refundable income taxes	(446)	270	(235)
Other current and long term assets	2	117	(135)
Accounts payable	(5,427)	3,289	187
Accrued liabilities and other liabilities	(352)	625	(642)
Net cash provided by operating activities	2,096	2,132	8,373
Cash flows from investing activities:
Capital expenditures	(640)	(978)	(643)
Additions to capitalized software	(616)	(129)
Proceeds from sale of fixed assets	1	10
Acquisitions	(4,000)
Net cash used in investing activities	(5,255)	(1,097)	(643)
Cash flows from financing activities:
Proceeds from stock option exercises	959	393	211
Purchases of common stock for treasury	(2,680)	(177)
Incremental tax benefits from stock options exercised	498	21	79
Payment of deferred financing costs	(31)
Net cash (used in) provided by financing activities	(1,254)	237	290
Effect of exchange rate changes on cash and cash equivalents	(9)	(4)	(3)
(Decrease) increase in cash and cash equivalents	(4,422)	1,268	8,017
Cash and cash equivalents, beginning of period	11,285	10,017	2,000
Cash and cash equivalents, end of period	6,863	11,285	10,017
Supplemental cash flow information:
Interest paid	51	51	51
Income taxes paid	2,545	$ 740	$ 482
Non-cash financing activities
Purchases of common stock for treasury at year end	$ (61)

1. Description of business

12 Months Ended

Dec. 31, 2011

Business Description and Basis of Presentation [Text Block]

1. Description of business

TransAct Technologies Incorporated (“TransAct” or the “Company”), which has its headquarters in Hamden, CT and its primary operating facility in Ithaca, NY, operates in one operating segment: market specific printers for transaction-based and other industries. These industries include casino, gaming, lottery, banking, kiosk, point-of-sale, oil and gas and medical and mobile. Our printers are designed based on market-specific requirements and are sold under the Ithaca®, Epic and Printrex® product brands. We distribute our products through OEMs, value-added resellers, selected distributors, and directly to end-users. Our product distribution spans across the Americas, Europe, the Middle East, Africa, Asia, Australia, the Caribbean Islands and the South Pacific. We also generate revenue from the after-market side of the business, providing printer service, supplies and spare parts.

2. Summary of significant accounting policies

12 Months Ended

Dec. 31, 2011

Basis of Presentation and Significant Accounting Policies [Text Block]

2. Summary of significant accounting policies

Principles of consolidation: The accompanying Consolidated Financial Statements include the accounts of TransAct and its wholly-owned subsidiaries, which require consolidation, after the elimination of intercompany accounts, transactions and unrealized profit.

Reclassifications: Certain amounts in the prior years’ financial statements have been reclassified to conform to the current year’s presentation.

Use of estimates: The accompanying Consolidated Financial Statements were prepared using estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities as of the date of the Consolidated Financial Statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.

Segment reporting: We apply the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 280, “Segment Reporting.” We view our operations and manage our business as one segment: the design, development, manufacture and sale of transaction-based and specialty printers and printer-related service, supplies and replacement parts. Factors used to identify TransAct’s single operating segment include the organizational structure of the Company and the financial information available for evaluation by the chief operating decision-maker in making decisions about how to allocate resources and assess performance.

Cash and cash equivalents: We consider all highly liquid investments with a maturity date of three months or less at date of purchase to be cash equivalents.

Allowance for doubtful accounts: We establish an allowance for doubtful accounts to ensure trade receivables are valued appropriately. We maintain an allowance for doubtful accounts based on a variety of factors, including the length of time receivables are past due, significant one-time events and historical experience. We record a specific allowance for individual accounts when we become aware of a customer’s inability to meet its financial obligations, such as in the case of bankruptcy filings or deterioration in the customer’s operating results or financial position. If circumstances related to customers change, we would further adjust estimates of the recoverability of receivables. Allowances for doubtful accounts on accounts receivable balances were $70,000 as of December 31, 2011 and $57,000 as of December 31, 2010.

The following table summarizes the activity recorded in the valuation account for accounts receivable:

	Year ended December 31,
(In thousands)	2011			2010		2009
Balance, beginning of period	$	57		$	57	$	55
Additions charged to costs and expenses		1			-		3
Acquisition of business		15			-		-
Deductions		(3	)		-		(1	)
Balance, end of period	$	70		$	57	$	57

Inventories: Inventories are stated at the lower of cost (principally standard cost, which approximates actual cost on a first-in, first-out basis) or market. We review market value based on historical usage and estimates of future demand. Based on these reviews, inventory write-downs are recorded, as necessary, to reflect estimated obsolescence, excess quantities and market value.

Fixed assets: Fixed assets are stated at cost. Depreciation is recorded using the straight-line method over the estimated useful lives. The estimated useful life of tooling is five years; machinery and equipment is ten years; furniture and office equipment is five to ten years; and computer software and equipment is three to seven years. Leasehold improvements are amortized over the shorter of the term of the lease or the useful life of the asset. Costs related to repairs and maintenance are expensed as incurred. The costs of sold or retired assets are removed from

the related asset and accumulated depreciation accounts and any gain or loss is recognized. Depreciation expense was $1,339,000, $1,446,000 and $1,655,000 in 2011, 2010 and 2009, respectively.

Leases: Rent expense under non-cancelable operating leases with scheduled rent increases or free rent periods are accounted for on a straight-line basis over the lease term, beginning on the date of control of physical use of the asset or of initial possession. The amount of the excess of straight-line rent expense over scheduled payments is recorded as a deferred liability. Construction allowances and other such lease incentives are recorded as deferred credits, and are amortized on a straight-line basis as a reduction of rent expense beginning in the period they are deemed to be earned, which generally coincides with the occupancy date.

Goodwill and Intangible assets: We acquire businesses in purchase transactions that result in the recognition of goodwill and intangible assets. The determination of the value of intangible assets requires management to make estimates and assumptions. In accordance with Accounting Standards Codification (“ASC”) 350-20 “Goodwill”, acquired goodwill is not amortized but is subject to impairment testing at least annually and when an event occurs or circumstances change, that indicate it is more likely than not an impairment exists. Factors considered that may trigger an impairment review are: significant underperformance relative to expected historical or projected future operating results; significant changes in the manner of use of acquired assets or the strategy for the overall business; significant negative industry or economic trends; and significant decline in market capitalization relative to net book value. Definite lived intangible assets are amortized and are tested for impairment when appropriate. We have determined that no goodwill or intangible asset impairment has occurred based on our assessment during 2011.

Revenue recognition: Our typical contracts include the sale of printers, which are sometimes accompanied by separately-priced extended warranty contracts. We also sell replacement parts, consumables, and other repair services (sometimes pursuant to multi-year product maintenance contracts), which are not included in the original printer sale and are ordered by the customer as needed. We recognize revenue pursuant to the guidance within ASC 605, “Revenue Recognition” (ASC 605). Specifically, revenue is recognized when evidence of an arrangement exists, delivery (based on shipping terms, which are generally FOB shipping point) has occurred, the selling price is fixed and determinable, and collectability is reasonably assured. We recognize revenue from the sale of printers to our distributors and resellers on a sell-in basis and on substantially the same terms as we recognize revenue from all our other customers. We provide for an estimate of product returns and price protection based on historical experience at the time of revenue recognition.

We account for all revenue arrangements involving multiple deliverables in accordance with ASC 605-25, “Multiple-Element Arrangements.” For these arrangements, we consider whether the deliverables in an arrangement are within the scope of existing higher-level GAAP and apply such literature to the extent that it provides guidance regarding whether to separate multiple-deliverable arrangements and how to allocate value among those separate units of accounting. We also determine whether revenue arrangements consist of more than one unit of accounting at inception of the arrangement and as each item in the arrangement is delivered. We allocate arrangement consideration to the separate units of accounting based on the relative fair value for all units of accounting in the arrangement, except where amounts allocable to the delivered units is limited to that which is contingent upon the delivery of additional deliverables or meeting other specified performance conditions.

Revenue related to extended warranty and product maintenance contracts is recognized pursuant to ASC 605-20-25, “Separately Priced Extended Warranty and Product Maintenance Contracts.” Pursuant to this provision, revenue related to separately priced product maintenance contracts is deferred and recognized over the term of the maintenance period. We record deferred revenue for advance payments received from customers for maintenance contracts.

Our customers have the right to return products that do not function properly within a limited time after delivery. We monitor and track product returns and record a provision for the estimated future returns based on historical experience. Returns have historically been within expectations and the provisions established.

We offer some of our customers price protection as an incentive to carry inventory of our product. These price protection plans provide that if we lower prices, we will credit them for the price decrease on inventory they hold. Our customers typically carry limited amounts of inventory, and we infrequently lower prices on current products. As a result, the amounts paid under these plans have not been material.

We charge our customers for shipping and handling services. The amounts billed to customers are recorded as revenue when the product ships. Any costs incurred related to these services are included in cost of sales.

Concentration of credit risk: Financial instruments that potentially expose TransAct to concentrations of credit risk are limited to cash and cash equivalents held by our banks in excess of insured limits and accounts receivable.

Accounts receivable from customers representing 10% or more of total accounts receivable were as follows:

	December 31,
	2011			2010
GTECH		13	%		17	%
Customer A		20	%		22	%

Sales to customers representing 10% or more of total net sales were as follows:

	Year ended December 31,
	2011			2010			2009
GTECH		26	%		12	%		19	%
Customer A		13	%		14	%		10	%
Customer B		*			*			12	%

* - Customers represent less than 10% of total net sales

Warranty: We generally warrant our products for up to 36 months and record the estimated cost of such product warranties at the time the sale is recorded. Estimated warranty costs are based upon actual past experience of product repairs and the related estimated cost of labor and material to make the necessary repairs.

The following table summarizes the activity recorded in the accrued product warranty liability:

	Year ended December 31,
(In thousands)	2011			2010			2009
Balance, beginning of period	$	249		$	233		$	393
Accruals for warranties issued during the period		146			84			112
Changes in estimates		326			172			(96	)
Acquisition of business		25			-			-
Settlements during the period		(325	)		(240	)		(176	)
Balance, end of period	$	421		$	249		$	233

Approximately $106,000 and $71,000 of the accrued product warranty liability were classified as long-term at December 31, 2011 and 2010, respectively.

Research and development expenses: Research and development expenses include engineering, design and product development expenses incurred in connection with specialized engineering and design to introduce new products and to customize existing products, and are expensed as a component of operating expenses as incurred. We recorded approximately $3,418,000, $3,000,000 and $2,788,000 of research and development expenses in 2011, 2010 and 2009, respectively.

Costs incurred in researching and developing a computer software product are charged to expense until technological feasibility has been established at which point all material software costs are capitalized within Intangible assets in our Consolidated Balance Sheet until the product is available for general release to customers. While judgment is required in determining when technological feasibility of a product is established, we have determined that it is reached after all high-risk development issues have been documented in a formal detailed plan design. The amortization of these costs will be included in cost of sales over the estimated life of the product. During 2010 we began the development of a new software product that enables casino customers to print coupons and promotions at the slot machine. Unamortized development costs for such software were approximately $682,000 and $129,000 as of December 31, 2011 and 2010, respectively. The total amount charged to cost of sales for capitalized software development costs was approximately $62,000 in 2011 with no such charges in 2010. The weighted-average amortization period of capitalized software developments costs is 4 years.

Advertising: Advertising costs are expensed as incurred. Advertising expenses, which are included in selling and marketing expense on the accompanying Consolidated Statements of Income, for 2011, 2010 and 2009 totaled $871,000, $824,000 and $763,000, respectively. These expenses include items such as consulting and professional services, tradeshows, and print advertising.

Restructuring: We continually evaluate our cost structure to ensure that it is appropriately positioned to respond to changing market conditions. We record pre-tax restructuring charges in accordance with ASC 420-10-25-4, “Exit or Disposal Cost Obligations.” See Note 9 for further discussion.

Income taxes: The income tax amounts reflected in the accompanying Consolidated Financial Statements are accounted for under the liability method in accordance with ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. We assess the likelihood that net deferred tax assets will be realized from future taxable income, and to the extent that we believe that realization is not likely, we establish a valuation allowance. In accordance with ASC 740, we identified, evaluated and measured the amount of benefits to be recognized for our tax return positions. See Note 14 for information regarding our accounting for income taxes.

Foreign currency translation: The financial position and results of operations of our foreign subsidiary in the United Kingdom are measured using local currency as the functional currency. Assets and liabilities of such subsidiary have been translated into U.S. dollars at the year-end exchange rate, related sales and expenses have been translated at the average exchange rate for the year, and shareholders’ equity has been translated at historical exchange rates. The resulting translation gains or losses, net of tax, are recorded in shareholders’ equity as a cumulative translation adjustment, which is a component of accumulated other comprehensive income. Foreign currency transaction gains and losses, including those related to intercompany balances, are recognized in Other, net on the Consolidated Statements of Income.

Share-based Payments: At December 31, 2011, we had share-based employee compensation plans, which are described more fully in Note 13 - Stock incentive plans. We account for those plans under the recognition and measurement principles of ASC 718, “Compensation – Stock Compensation.” Share-based compensation expense is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee’s requisite service period. We have no awards with market or performance conditions.

We use the Black-Scholes option-pricing model to calculate the fair value of share based awards. The key assumptions for this valuation method include the expected term of the option, stock price volatility, risk-free interest rate, dividend yield, market price of our underlying stock and exercise price. Many of these assumptions are judgmental and highly sensitive in the determination of compensation expense. In addition, we estimate forfeitures when recognizing compensation expense, and we adjust our estimate of forfeitures over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative true-up adjustment in the period of change and also impacts the amount of compensation expense to be recognized in future periods.

Net income and loss per share: We report net income or loss per share in accordance with ASC 260, “Earnings per Share (EPS).” Under this guidance, basic EPS, which excludes dilution, is computed by dividing income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Unvested restricted stock is excluded from the calculation of weighted average common shares for basic EPS. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Diluted EPS includes restricted stock and in-the-money stock options using the treasury stock method. During a loss period, the assumed exercise of in-the-money stock options has an anti-dilutive effect, and therefore, these instruments are excluded from the computation of dilutive EPS. See Note 15 - Earnings per Share.

3. Recently issued accounting pronouncements

12 Months Ended

Dec. 31, 2011

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

3. Recently issued accounting pronouncements

Comprehensive Income: In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220).” This ASU revises the manner in which entities present comprehensive income in their financial statements. The new guidance removes the presentation options in ASC 220 and requires entities to report components of comprehensive income in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements. The ASU does not change the items that must be reported in other comprehensive income. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Effective January 1, 2012, we will adopt the requirements of this ASU.

Intangibles – Goodwill and Other: In September 2011, the FASB issued ASU 2011-08, “Intangibles — Goodwill and Other (Topic 350) — Testing Goodwill for Impairment (revised standard).” The revised standard is intended to reduce the costs and complexity of the annual goodwill impairment test by providing entities an option to perform a “qualitative” assessment to determine whether further impairment testing is necessary. This ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15,

2011. We will consider this new guidance as we conduct our annual goodwill impairment testing in 2012 though we do not anticipate that it will have a material impact on our Consolidated Financial Statements.

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 154
-Paragraph 2, 17, 18
-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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 28
-Paragraph 23, 24
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6503790

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-URI http://asc.fasb.org/extlink&oid=6507316

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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6523989

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-Name Accounting Standards Codification
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+ Details

4. Business acquisitions

12 Months Ended

Dec. 31, 2011

Business Combination Disclosure [Text Block]

4. Business acquisitions

On August 19, 2011, we completed the purchase of substantially all of the assets of Printrex for $4,000,000 in cash and potential future contingent consideration further discussed below. Printrex is a leading manufacturer of specialty printers primarily sold into the oil and gas exploration and medical markets which serve commercial and industrial customers primarily in the United States, Canada, Europe and Asia. This acquisition was completed primarily to expand our product offerings into the oil and gas exploration and medical markets. The Company is in the process of completing its analysis of fair value attributes of the assets acquired related to the Printrex acquisition and anticipates that the final assessment of values will not defer materially from the preliminary assessment.

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed related to the Printrex acquisition:

Purchase Price Allocation (In thousands):
Receivables	$	673
Inventories		780
Fixed assets		11
Other current assets		6
Intangible assets		2,280
Goodwill		1,049
Other assets		22
Liability related to potential future contingent consideration		(680	)
Other liabilities		(141	)
Total purchase price	$	4,000
Intangible Assets:
Customer relationships	$	1,300
Trademark		480
Developed technology		420
Other		80
Total Intangible assets	$	2,280
Intangible Asset Weighted Average Amortization Period:
Customer relationships	6 years
Trademark	10 years
Developed technology	9 years
Other	1.2 years
Total weighted average	7.2 years

The fair values assigned to intangible assets were determined through the use of the income approach, specifically the relief from royalty method and the multi-period excess earnings method. The valuation of tangible assets was derived using a combination of the income approach, the market approach and the cost approach.

The fair value of trade accounts receivables acquired is $623,000 and other receivables is $50,000. The gross contractual amount due on these trade accounts receivable is approximately $638,000, of which $15,000 is expected to be uncollectible.

We entered into a contingent consideration arrangement with Printrex as part of the acquisition for 30% of the gross profit for a three-year period related to new products under development, less certain other adjustments, beginning on the earlier of 1) January 1, 2012 or 2) the date of first commercial introduction of the new products under development. The undiscounted fair value related to the contingent liability could range from $100,000 to $1,800,000. The fair value of the contingent consideration arrangement of $680,000 was estimated by applying the income approach. That measure is based on significant inputs that are not observable in the market, which fair value measurement guidance refers to as Level 3 inputs.

Key assumptions include a discount rate range of 5% to 6% and a probability-adjusted level of gross profit between $1,300,000 and $7,000,000.

The Printrex acquisition resulted in $1,049,000 of goodwill, which is deductible for tax purposes, and largely consists of expected synergies resulting from the acquisition. Key areas of potential cost savings include increased purchasing power for raw materials; manufacturing and supply chain work process improvements; and the elimination of redundant manufacturing overhead and operating expenses. We also anticipate that the transaction will produce growth synergies as a result of applying TransAct’s sales and engineering expertise to Printrex’s products.

In January 2012, we determined that we no longer need to maintain the existing Printrex manufacturing facility in San Jose, California, along with certain redundant headcount. This decision will enable us to utilize the space in our existing facilities while also gaining the efficiencies and operational excellence from our team in Ithaca, NY. As a result, we plan to transition all San Jose manufacturing operations to our Ithaca, NY facility, and all San Jose service operations to our Las Vegas, NV facility, by the end of August 2012. As part of this transition, we plan to maintain the San Jose engineering group and relocate them to a new, smaller facility in the San Jose area.

The change in carrying value of goodwill for the year ended December 31, 2011 was as follows (in thousands):

Balance at December 31, 2010	$	1,469
August 2011 Printrex acquisition		1,049
Balance at December 31, 2011	$	2,518

We incurred acquisition-related costs of $159,000 during the year ended December 31, 2011. These costs included legal, accounting, valuation and other professional services and were included in general and administrative expenses in the Consolidated Statements of Income. In addition, we incurred approximately $78,000 of integration-related expenses in 2011 that were also included in general and administrative expenses in the Consolidated Statements of Income.

The Printrex acquisition contributed $1,892,000 to net sales and reduced net income by $23,000 for the year ended December 31, 2011. This reduction includes the after-tax impact of $139,000 of amortization expense from the intangible assets acquired from Printrex as well as $78,000 of integration expenses. The following unaudited pro forma consolidated results of operations are provided for illustrative purposes only and assume that the acquisition of Printrex occurred on January 1, 2010. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had occurred on that date, nor of the results that may be obtained in the future.

	Year ended December 31,
(In thousands)	2011		2010
Sales	$	69,694	$	68,617
Net income	$	5,025	$	3,865

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-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 141R
-Appendix F
-Paragraph F4
-Subparagraph e

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-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
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-URI http://asc.fasb.org/extlink&oid=6972119&loc=d3e1383-128463

+ Details

5. Inventories

12 Months Ended

Dec. 31, 2011

Inventory Disclosure [Text Block]

5. Inventories

The components of inventories are:

	December 31,
(In thousands)	2011		2010
Raw materials and purchased component parts	$	6,863	$	5,077
Work-in-process		71		2
Finished goods		7,217		7,716
	$	14,151	$	12,795

6. Fixed assets

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

6. Fixed assets

The components of fixed assets, net are:

	December 31,
(In thousands)	2011			2010
Tooling, machinery and equipment	$	12,463		$	12,207
Furniture and office equipment		1,543			1,659
Computer software and equipment		5,315			4,991
Leasehold improvements		1,763			1,888
		21,084			20,745
Less: Accumulated depreciation and amortization		(18,053	)		(17,296	)
		3,031			3,449
Construction in-process		327			622
	$	3,358		$	4,071

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

7. Intangible assets

12 Months Ended

Dec. 31, 2011

Goodwill and Intangible Assets Disclosure [Text Block]

7. Intangible assets

Identifiable intangible assets are recorded in Intangible assets in the accompanying Consolidated Balance Sheets and are comprised of the following:

	December 31,
	2011					2010
(In thousands)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Purchased technology	$	1,528	$	(443	)	$	493	$	(334	)
Customer relationships		1,300		(79	)		-		-
Trademark		480		(18	)		-		-
Covenant not to compete		146		(136	)		146		(115	)
Patents		57		(29	)		57		(26	)
Other		80		(25	)		-		-
Total	$	3,591	$	(730	)	$	696	$	(475	)

Amortization expense was $255,000 in 2011, $85,000 in 2010 and $84,000 in 2009, respectively. Amortization expense for each of the next five years ending December 31 is expected to be as follows: $565,000 in 2012; $501,000 in 2013; $500,000 in 2014; $441,000 in 2015; $315,000 in 2016; and $539,000 thereafter.

- 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

8. Accrued liabilities

12 Months Ended

Dec. 31, 2011

Schedule of Accrued Liabilities [Table Text Block]

8. Accrued liabilities

The components of accrued liabilities are:

	December 31,
(In thousands)	2011		2010
Payroll and fringe benefits	$	1,702	$	1,736
Income taxes		40		359
Warranty		315		178
Professional and consulting		95		111
Other		520		481
	$	2,672	$	2,865

9. Accrued business consolidation and restructuring expenses

12 Months Ended

Dec. 31, 2011

Restructuring and Related Activities Disclosure [Text Block]

9. Accrued business consolidation and restructuring expenses

During 2011, we closed our New Britain, CT service facility which primarily serviced our first generation legacy impact printers for GTECH and incurred certain facility closure and severance costs. We no longer needed to maintain this facility since these printers have been replaced by our thermal lottery printers. These restructuring activities reduced the number of employees and closed a facility, which caused us to incur costs for employee termination benefits related to these employee reductions as well as lease termination costs and the disposal of fixed assets. During the year ended December 31, 2011, we recorded a restructuring charge of $184,000, in accordance with FASB ASC 420-10-25-4 “Exit

or Disposal Cost Obligations” which has been included within Business consolidation and restructuring expenses in the accompanying Consolidated Statements of Income. Cash payments to be made under this restructuring plan should be complete by March 2012.

In 2010, due to the completion of the move of a substantial portion of our printer production to a contract manufacturer in China, we initiated and completed certain restructuring programs to better utilize our workforce. These restructuring activities reduced the number of employees and caused us to incur costs for employee termination benefits related to the employee reductions. During 2010, we recorded pre-tax restructuring charges of approximately $156,000 which were included within general and administrative expenses in the accompanying Consolidated Statements of Income. The restructuring activity during 2010 included severance costs related to the termination of 16 employees.

The following table summarizes the activity recorded in accrued restructuring expenses during 2011 and 2010, and is included in accrued liabilities in the accompanying Consolidated Balance Sheets.

	December 31,
(In thousands)	2011			2010
Accrual balance, beginning of period	$	-		$	13
Severance charges		134			156
Non-cancelable lease payments		26			-
Cash payments		(115	)		(169	)
Accrual balance, end of period	$	45		$	-

- 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

10. Retirement savings plan

12 Months Ended

Dec. 31, 2011

Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block]

10. Retirement savings plan

We maintain a 401(k) plan under which all full-time employees are eligible to participate at the beginning of each month immediately following their date of hire. We match employees’ contributions at a rate of 50% of employees’ contributions up to the first 6% of the employees’ compensation contributed to the 401(k) plan. Our matching contributions were $201,000, $223,000 and $237,000 in 2011, 2010 and 2009, respectively.

- Definition

Disclosure of accounting policy for plans, other than pension plans, that provide postretirement benefits (including both defined benefit and defined contribution plans). This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 19, 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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 9, 11, 12, 13
-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 158
-Paragraph 4, 5, 6, 7
-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
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-Name Accounting Standards Codification
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-SubTopic 80
-URI http://asc.fasb.org/subtopic&trid=2235144

+ Details

11. Borrowings

12 Months Ended

Dec. 31, 2011

Debt Disclosure [Text Block]

11. Borrowings

On November 22, 2011, we signed an amendment to renew our existing three-year $20,000,000 credit facility (the “TD Bank Credit Facility”) with TD Bank. The TD Bank Credit Facility provides for a $20,000,000 revolving credit line expiring on November 28, 2014. Borrowings under the revolving credit line bear a floating rate of interest at the prime rate minus one percent and are secured by a lien on all of our assets. We also pay a fee of 0.25% on unused borrowings under the revolving credit line. The total deferred financing costs relating to expenses incurred to complete the TD Bank Credit Facility was $31,000 which will be amortized over the three year term. The TD Bank Credit Facility imposes certain quarterly financial covenants on us and restricts, among other things, our ability to incur additional indebtedness, the payment of dividends on our common stock and the creation of other liens. We were in compliance with all financial covenants of the TD Bank Credit Facility at December 31, 2011.

As of December 31, 2011, undrawn commitments under the TD Bank Credit Facility were $20,000,000.

- 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

12. Commitments and contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Text Block]

12. Commitments and contingencies

At December 31, 2011, we were the lessee on operating leases for equipment and real property. Rent expense was approximately $1,030,000, $1,047,000 and $1,024,000 in 2011, 2010 and 2009, respectively. Minimum aggregate rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2011 are as follows: $607,000 in 2012; $385,000 in 2013; $372,000 in 2014; $378,000 in 2015; $382,000 in 2016; and $225,000 thereafter.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
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-Topic 825
-SubTopic 20
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

13. Stock incentive plans

12 Months Ended

Dec. 31, 2011

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

13. Stock incentive plans

Stock incentive plans. We currently have four primary stock incentive plans: the 1996 Stock Plan, which provided for the grant of awards to officers and other key employees of the Company; the 1996 Directors’ Stock Plan, which provided for non-discretionary awards to non-employee directors; the 2001 Employee Stock Plan, which provided for the grant of awards to key employees of the Company and other non-employees who provided services to the Company; and the 2005 Equity Incentive Plan, which provides for awards to executives, key employees, directors and consultants. The plans generally provide for awards in the form of: (i) incentive stock options, (ii) non-qualified stock options, (iii) restricted stock, (iv) restricted stock units, (v) stock appreciation rights or (vi) limited stock appreciation rights. However, the 2001 Employee Stock Plan does not provide for incentive stock option awards. Options granted under these plans have exercise prices equal to

100% of the fair market value of the common stock at the date of grant. Options granted have a ten-year term and generally vest over a three- to five-year period, unless automatically accelerated for certain defined events. As of May 2005, no new awards will be made under the 1996 Stock Plan, the 1996 Directors’ Stock Plan or the 2001 Employee Stock Plan. Under our 2005 Equity Incentive Plan, we may authorize up to 1,200,000 of shares of TransAct common stock. At December 31, 2011, 406,673 shares of common stock remained available for issuance under the 2005 Equity Incentive Plan.

Under the assumptions indicated below, the weighted-average fair value of stock option grants for the years ended December 31, 2011, 2010 and 2009 was $10.42, $7.45 and $2.56, respectively. The table below indicates the key assumptions used in the option valuation calculations for options granted in the years ended December 31, 2011, 2010 and 2009 and a discussion of our methodology for developing each of the assumptions used in the valuation model:

	Year ended December 31,
	2011			2010			2009
Expected option term	6.8 years			6.1 years			6.0 years
Expected volatility		62.5	%		66.8	%		67.4	%
Risk-free interest rate		2.0	%		2.3	%		2.0	%
Dividend yield		0	%		0	%		0	%

Expected Option Term - This is the weighted average period of time over which the options granted are expected to remain outstanding giving consideration to our historical exercise patterns. Options granted have a maximum term of ten years and an increase in the expected term will increase compensation expense.

Expected Volatility – The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period approximately equal to the expected option term of the grant. An increase in the expected volatility factor will increase compensation expense.

Risk-Free Interest Rate - This is the U.S. Treasury rate in effect at the time of grant having a term approximately equal to the expected term of the option. An increase in the risk-free interest rate will increase compensation expense.

Dividend Yield - We have not made any dividend payments on our common stock, and we have no plans to pay dividends in the foreseeable future as it is restricted under the terms of the TD Bank Credit Facility. An increase in the dividend yield will decrease compensation expense.

For the years ending December 31, 2011, 2010 and 2009, we recorded $587,000, $565,000, and $640,000 of share-based compensation costs, respectively, included primarily in general and administrative expense in our Consolidated Statements of Income. We also recorded income tax benefits of approximately $195,000, $186,000, and $214,000 in 2011, 2010, and 2009 respectively, related to such share-based compensation. At December 31, 2011, these benefits are recorded as a deferred tax asset in the Consolidated Balance Sheet.

The 1996 Stock Plan, 1996 Directors’ Stock Plan, 2001 Employee Stock Plan and 2005 Equity Incentive Plan option activity is summarized below:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2010		942,956		$	6.69
Granted		127,500			10.42
Exercised		(239,074	)		4.01
Forfeited		(12,300	)		7.09
Expired		(2,374	)		5.87
Outstanding at December 31, 2011		816,708		$	8.06	6.1 years	$	975,000
Options exercisable at December 31, 2011		435,283		$	8.80	4.6 years	$	492,000
Options vested or expected to vest		781,268		$	8.07	6.1 years	$	937,000

Shares that are issued upon exercise of employee stock options are newly issued shares and not issued from treasury stock. As of December 31, 2011, unrecognized compensation cost related to stock options is approximately $1,251,000, which is expected to be recognized over a weighted average period of 2.8 years.

The total intrinsic value of stock options exercised was $1,576,000, $299,000 and $161,000 and the total fair value of stock options vested was $504,000, $424,000, and $341,000 during the years ended December 31, 2011, 2010 and 2009, respectively. Cash received from option exercises were $959,000, $393,000 and $211,000 for 2011, 2010 and 2009, respectively. We recorded a realized tax benefit in 2011 from equity-based awards of $498,000 related to options exercised which has been included as a component of cash flows from financing activities in the Consolidated Statement of Cash Flows.

Restricted stock: Under the 1996 Stock Plan, 2001 Employee Stock Plan and 2005 Equity Incentive Plan, we have granted shares of restricted common stock, for no consideration, to our officers, directors and certain key employees. Restricted stock activity for the 1996 Stock Plan, 2001 Employee Stock Plan and 2005 Equity Incentive Plan is summarized below:

	Shares			Weighted Average Grant Date Fair Values
Nonvested shares at December 31, 2010		3,000		$	13.78
Granted		-			-
Vested		(3,000	)		13.78
Canceled		-			-
Nonvested shares at December 31, 2011		-		$	-

As of December 31, 2011, there was no unrecognized compensation cost related to restricted stock.

We paid a portion of the 2010 and 2009 incentive bonus for the chief executive officer and chief financial officer in the form of 14,323 and 10,204 deferred stock units, respectively, with a corresponding credit recorded to Additional Paid in Capital in the amount of $141,000 in 2011 and $77,000 in 2010. Such deferred stock units were granted in March 2011 and 2010, respectively, and were fully vested at the time of grant. These units will be converted three years from the grant date to shares of the Company’s common stock on a one-for-one basis. The weighted average exercise price of the deferred stock units was $8.91.

- 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 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 2: 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.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: 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 5: 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 6: 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 7: 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 8: 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

+ Details

14. Income taxes

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Text Block]

14. Income taxes

The components of the income tax provision are as follows:

	Year Ended December 31,
(In thousands)	2011		2010		2009
Current:
Federal	$	1,695	$	1,297	$	53
State		74		51		13
Foreign		44		35		5
		1,813		1,383		71
Deferred:
Federal		448		457		891
State		71		82		110
Foreign		-		1		1
		519		540		1,002
Income tax provision	$	2,332	$	1,923	$	1,073

At December 31, 2011, we have no federal or state net operating loss carryforwards. We also have approximately $71,000 in state tax credit carryforwards that began to expire in 2011. Foreign income (loss) before taxes was $68,000, $35,000 and ($49,000) in 2011, 2010 and 2009, respectively.

Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the Consolidated Financial Statements. Our gross deferred tax assets and liabilities were comprised of the following:

	December 31,
(In thousands)	2011			2010
Deferred tax assets:
Net operating losses	$	149		$	114
Capitalized research and development		204			273
Inventory reserves		1,169			1,210
Deferred revenue		98			176
Warranty reserve		148			87
Stock compensation expense		810			586
Foreign tax and other credits		47			65
Other liabilities and reserves		595			562
Gross deferred tax assets		3,220			3,073
Valuation allowance		(176	)		(125	)
Net deferred tax assets		3,044			2,948

Gross deferred tax liabilities:
Depreciation		422			392
Other		96			62
Net deferred tax liabilities		518			454
Total net deferred tax assets	$	2,526		$	2,494

The following table summarizes the activity recorded in the valuation allowance on the deferred tax assets:

	Year ended December 31,
(In thousands)	2011		2010			2009
Balance, beginning of period	$	125	$	76		$	26
Additions charged to income tax provision		51		55			50
Reductions credited to income tax provision		-		(6	)		-
Balance, end of period	$	176	$	125		$	76

Differences between the U.S. statutory federal income tax rate and our effective income tax rate are analyzed below:

	Year Ended December 31,
	2011			2010			2009

Federal statutory tax rate		34.0	%		34.0	%		34.0	%
State income taxes, net of federal income taxes		1.4			1.5			2.5
Tax benefit from tax credits, net of valuation allowance		(2.7	)		(2.9	)		(4.5	)
Valuation allowance and tax accruals		0.7			0.8			0.8
Permanent items		(0.4	)		(0.2	)		0.7
Other		0.3			(0.2	)		-
Effective tax rate		33.3	%		33.0	%		33.5	%

At December 31, 2011 and 2010, we had approximately $228,000 and $201,000 of total gross unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in any future periods. We are not aware of any events that could occur within the next twelve months that could cause a significant change in the total amount of unrecognized tax benefits. A tabular reconciliation of the gross amounts of unrecognized tax benefits at the beginning and end of the year is as follows:

(In thousands)	2011			2010
Unrecognized tax benefits as of January 1	$	201		$	189
Tax positions taken during the current period		53			61
Lapse of statute of limitations		(26	)		(49	)
Unrecognized tax benefits as of December 31	$	228		$	201

We are subject to U.S. federal income tax as well as income tax of certain state and foreign jurisdictions. We have substantially concluded all U.S. federal income tax, state and local, and foreign tax matters through 2003. During 2008, a limited scope examination of our 2005 and 2006 federal tax returns was completed. However, our federal tax returns for the years 2004 through 2010 remain open to examination. Various state and foreign tax jurisdiction tax years remain open to examination as well, though we believe that any additional assessment would be immaterial to the Consolidated Financial Statements. No federal, state or foreign tax jurisdiction income tax returns are currently under examination.

We do not anticipate that the total unrecognized tax benefits will significantly change due to the settlement of audits and the expiration of statute of limitations prior to December 31, 2012.

We recognize interest and penalties related to uncertain tax positions in the income tax provision. As of December 31, 2011 and 2010, we have approximately $23,000 and $4,000, respectively, of accrued interest and penalties related to uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-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 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-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 Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

15. Earnings per share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

15. Earnings per share

For 2011, 2010 and 2009, earnings per share were computed as follows (in thousands, except per share amounts):

	Year Ended December 31,
	2011		2010		2009
Net income	$	4,676	$	3,904	$	2,140

Shares:
Basic: Weighted average common shares outstanding		9,443		9,390		9,289
Add: Dilutive effect of outstanding options as determined by the treasury stock method		160		200		88
Diluted: Weighted average common and common equivalent shares outstanding		9,603		9,590		9,377

Net income per common share:
Basic	$	0.50	$	0.42	$	0.23
Diluted		0.49		0.41		0.23

We compute earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Certain stock-based awards were not included in the full year computation of earnings per diluted share because the effect would be anti-dilutive. Anti-dilutive stock options, restricted shares and deferred stock units excluded from the computation of earnings per dilutive share were 309,250, 367,750, and 525,500, at December 31, 2011, 2010 and 2009 respectively.

16. Stock repurchase program

12 Months Ended

Dec. 31, 2011

Treasury Stock Acquired, Repurchase Authorization

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">16. Stock repurchase program</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On May 27, 2010, our Board of Directors approved a stock repurchase program (the “Stock Repurchase Program”). Under the Stock Repurchase Program, we are authorized to repurchase up to $10,000,000 of our outstanding shares of common stock from time to time in the open market over a three-year period ending May 27, 2013, depending on market conditions, share price and other factors. In March 2012, the Board of Directors approved an increase in our stock repurchase authorization under the Stock Repurchase Program to $15,000,000 from $10,000,000. For the year ended December 31, 2011, we repurchased a total of 275,255 shares of common stock for approximately $2,680,000, at an average price of $9.74 per share, under the Stock Repurchase Program. From January 1, 2005 through December 31, 2011, we repurchased a total of 1,461,693 shares of common stock for approximately $11,395,000 under all of our stock repurchase programs, at an</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">average price of $7.80 per share. We use the cost method to account for treasury stock purchases, under which the price paid for the stock is charged to the treasury stock account. Repurchases of our common stock are accounted for as of the trade date. At December 31, 2011, approximately $7,143,000 remains authorized for future repurchases under the Stock Repurchase Program.</font> </div><br/>

17. Geographic area information

12 Months Ended

Dec. 31, 2011

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

17. Geographic area information

Information regarding our operations by geographic area is contained in the following table. These amounts in the geographic area table are based on the location of the customer and vendor.

	Year Ended December 31,
(In thousands)	2011		2010		2009
Net sales:
United States	$	49,301	$	44,101	$	45,890
International		16,668		19,093		12,456
Total	$	65,969	$	63,194	$	58,346

Fixed assets, net:
United States	$	2,129	$	2,694	$	3,395
International		1,229		1,377		1,156
Total	$	3,358	$	4,071	$	4,551

Sales to international customers were approximately 25%, 30%, and 21% in 2011, 2010, and 2009 respectively. Sales to the United Kingdom represented 51%, 43%, and 45%, sales to the Pacific Rim (which includes Australia and Asia) represented 25%, 18%, and 31%, and sales to Canada represented 6%, 20%, and 11% of total international sales in 2011, 2010, and 2009 respectively. International long-lived assets consist of net fixed assets located at our foreign subsidiary in the United Kingdom as well as our contract manufacturers in China, Malaysia and Mexico.

18. Quarterly results of operations (unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Text Block]

18. Quarterly results of operations (unaudited)

Our quarterly results of operations for 2011 and 2010 are as follows:

	Quarter Ended
(In thousands, except per share amounts)	March 31		June 30		September 30		December 31
2011:
Net sales	$	20,694	$	17,519	$	14,111	$	13,645
Gross profit		6,932		6,663		5,350		5,681
Net income		1,825		1,442		839		570
Net income per share:
Basic		0.19		0.15		0.09		0.06
Diluted		0.19		0.15		0.09		0.06

2010:
Net sales	$	14,208	$	16,443	$	16,369	$	16,174
Gross profit		5,189		6,155		5,557		5,647
Net income		629		1,145		1,052		1,078
Net income per share:
Basic		0.07		0.12		0.11		0.11
Diluted		0.07		0.12		0.11		0.11

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Label	Element	Value
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	$ 2,000
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	(3,000)
Issuance of deferred stock units	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	77,000
Treasury Stock, Value, Acquired, Cost Method	us-gaap_TreasuryStockValueAcquiredCostMethod	(177,000)
Tax benefit (charge) related to employee stock sales and vesting of restricted stock	us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	79,000
Tax benefit (charge) related to employee stock sales and vesting of restricted stock	us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	21,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	211,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	393,000
Comprehensive Income [Member]
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	2,000
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	(3,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	2,142,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	3,901,000
Net income	us-gaap_NetIncomeLoss	2,140,000
Net income	us-gaap_NetIncomeLoss	$ 3,904,000
Common Stock [Member]
Purchase of treasury stock (in Shares)	us-gaap_StockRepurchasedDuringPeriodShares	(22,338)
Balance, December 31, 2011	us-gaap_StockholdersEquity	$ 105,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	105,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	$ 106,000
Issuance of shares from exercise of stock options (in Shares)	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	63,121
Issuance of shares from exercise of stock options (in Shares)	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	84,672
Cancellation of restricted stock (in Shares)	us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited	(500)
Common stock, shares issued	us-gaap_CommonStockSharesIssued	9,301,488
Common stock, shares issued	us-gaap_CommonStockSharesIssued	9,364,109
Common stock, shares issued	us-gaap_CommonStockSharesIssued	9,426,443
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ 1,000
Accumulated Other Comprehensive Income (Loss) [Member]
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	2,000
Foreign currency translation adj., net of tax	us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	(3,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	(68,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	(66,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	(69,000)
Additional Paid-in Capital [Member]
Issuance of deferred stock units	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	77,000
Share-based compensation expense	us-gaap_ShareBasedCompensation	640,000
Share-based compensation expense	us-gaap_ShareBasedCompensation	565,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	20,890,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	21,820,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	22,875,000
Tax benefit (charge) related to employee stock sales and vesting of restricted stock	us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	79,000
Tax benefit (charge) related to employee stock sales and vesting of restricted stock	us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	21,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	211,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	392,000
Treasury Stock [Member]
Balance, December 31, 2011	us-gaap_StockholdersEquity	(8,538,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	(8,538,000)
Balance, December 31, 2011	us-gaap_StockholdersEquity	(8,715,000)
Treasury Stock, Value, Acquired, Cost Method	us-gaap_TreasuryStockValueAcquiredCostMethod	(177,000)
Retained Earnings [Member]
Balance, December 31, 2011	us-gaap_StockholdersEquity	10,893,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	13,033,000
Balance, December 31, 2011	us-gaap_StockholdersEquity	16,937,000
Net income	us-gaap_NetIncomeLoss	2,140,000
Net income	us-gaap_NetIncomeLoss	$ 3,904,000