Northwest Pipe (NWPX) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Entity Registrant Name	Northwest Pipe Co.
Entity Central Index Key	1,001,385
Trading Symbol	nwpx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		9,564,752
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 635	$ 527
Trade and other receivables, less allowance for doubtful accounts of $555 and $755	35,422	58,310
Costs and estimated earnings in excess of billings on uncompleted contracts	38,700	45,847
Inventories	49,161	72,779
Refundable income taxes	8,208	5,031
Deferred income taxes	4,900	5,487
Prepaid expenses and other	1,642	7,258
Total current assets	138,668	195,239
Property and equipment, less accumulated depreciation and amortization of $84,460 and $84,224	$ 132,640	132,595
Goodwill		5,282
Other assets	$ 12,111	18,766
Total assets	283,419	$ 351,882
Current liabilities:
Borrowings on line of credit	6,552
Current portion of capital lease obligations	171	$ 2,170
Accounts payable	10,463	15,480
Accrued liabilities	9,213	9,071
Billings in excess of costs and estimated earnings on uncompleted contracts	695	2,835
Total current liabilities	$ 27,094	29,556
Borrowings on line of credit		45,587
Capital lease obligations, less current portion	$ 112	225
Deferred income taxes	11,012	14,015
Pension and other long-term liabilities	14,379	16,864
Total liabilities	$ 52,597	$ 106,247
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding
Common stock, $.01 par value, 15,000,000 shares authorized, 9,564,752 and 9,520,067 shares issued and outstanding	$ 96	$ 95
Additional paid-in-capital	117,372	116,802
Retained earnings	114,876	130,571
Accumulated other comprehensive loss	(1,522)	(1,833)
Total stockholders’ equity	230,822	245,635
Total liabilities and stockholders’ equity	$ 283,419	$ 351,882

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 555	$ 755
Accumulated Depreciation and Amortization	$ 84,460	$ 84,224
Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	15,000,000	15,000,000
Common Stock, Shares Issued (in shares)	9,564,752	9,520,067
Common Stock, Shares Outstanding (in shares)	9,564,752	9,520,067

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 52,335	$ 116,505	$ 191,046	$ 301,140
Cost of sales	54,846	100,685	192,259	269,689
Gross profit (loss)	(2,511)	15,820	(1,213)	31,451
Selling, general and administrative expense	$ 4,773	$ 6,489	17,199	$ 17,847
Impairment of goodwill			5,282
Operating income (loss)	$ (7,284)	$ 9,331	(23,694)	$ 13,604
Other income	24	39	82	2
Interest income	10	220	173	383
Interest expense	(195)	(457)	(898)	(1,796)
Income (loss) before income taxes	(7,445)	9,133	(24,337)	12,193
Income tax expense (benefit)	(5,930)	3,275	(8,642)	4,364
Income (loss) from continuing operations	$ (1,515)	5,858	$ (15,695)	7,829
Discontinued operations:
Income (loss) from operations of discontinued business		46		(2,601)
Loss on sale of business		(1,414)		(13,497)
Income tax benefit		(531)		(4,378)
Loss on discontinued operations		(837)		(11,720)
Net income (loss)	$ (1,515)	$ 5,021	$ (15,695)	$ (3,891)
Basic income (loss) per share
Continuing operations (in dollars per share)	$ (0.16)	$ 0.62	$ (1.64)	$ 0.82
Discontinued operations (in dollars per share)		(0.09)		(1.23)
Total (in dollars per share)	$ (0.16)	0.53	$ (1.64)	(0.41)
Diluted income (loss) per share
Continuing operations (in dollars per share)	$ (0.16)	0.61	$ (1.64)	0.82
Discontinued operations (in dollars per share)		(0.09)		(1.23)
Total (in dollars per share)	$ (0.16)	$ 0.52	$ (1.64)	$ (0.41)
Shares used in per share calculations:
Basic (in shares)	9,565	9,519	9,558	9,513
Diluted (in shares)	9,565	9,616	9,558	9,595

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (1,515)	$ 5,021	$ (15,695)	$ (3,891)
Other comprehensive income (loss):
Pension liability adjustment, net of tax	109	63	327	$ 191
Deferred gain (loss) on cash flow derivatives, net of tax	15	45	(16)
Other comprehensive income	124	108	311	$ 191
Comprehensive income (loss)	$ (1,391)	$ 5,129	$ (15,384)	$ (3,700)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (15,695)	$ (3,891)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	6,664	$ 10,098
Impairment of goodwill	5,282
Amortization of intangible assets	410	$ 409
Provision for doubtful accounts	(200)	(294)
Amortization of debt issuance costs	203	305
Deferred income taxes	$ (2,415)	1,144
Loss on sale of business		13,497
Stock based compensation expense	$ 1,340	2,067
Unrealized gain on foreign currency forward contracts	(173)	(23)
Adjustments to contingent consideration	276	(1,736)
Other, net	31	25
Changes in operating assets and liabilities:
Trade and other receivables, net	19,121	$ 19,113
Insurance settlements	2,625
Costs and estimated earnings in excess of billings on uncompleted contracts, net	5,007	$ (7,362)
Inventories	23,946	1,435
Refundable income taxes	(3,523)	(2,815)
Prepaid expenses and other assets	1,321	1,524
Accounts payable	(4,129)	2,246
Accrued and other liabilities	(2,287)	(4,576)
Net cash provided by operating activities	37,804	31,166
Cash flows from investing activities:
Additions to property and equipment	(7,704)	(11,619)
Proceeds from sale of business	4,300	29,791
Proceeds from sale of property & equipment	55	8
Collections on notes receivable	$ 7,219	47
Other investing activities		(25)
Net cash provided by investing activities	$ 3,870	18,202
Cash flows from financing activities:
Tax withholdings related to net share settlements of restricted stock and performance stock awards	$ (423)	(1,283)
Payments on long-term debt		(6,357)
Borrowings on line of credit	$ 77,750	184,081
Repayments on line of credit	(116,785)	(225,351)
Payments on capital lease obligations	(2,127)	(1,002)
Other financing activities	19	28
Net cash used in financing activities	(41,566)	(49,884)
Change in cash and cash equivalents	108	(516)
Cash and cash equivalents, beginning of period	527	588
Cash and cash equivalents, end of period	635	72
Non-Cash Investing Activity:
Accrued property and equipment purchases	$ 356	$ 222

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The condensed consolidated financial statements include the accounts of Northwest Pipe Company (the “Company”) and its subsidiaries in which the Company exercises control as of the financial statement date. Intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. The financial information as of December 31, 2014 is derived from the audited consolidated financial statements presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Form 10-K”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying condensed consolidated financial statements include all adjustments necessary (which are of a normal and recurring nature) for the fair statement of the results of the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto together with management’s discussion and analysis of financial condition and results of operations contained in the Company’s 2014 Form 10-K. On March 30, 2014 the Company completed the sale of substantially all of the assets and liabilities associated with its oil country tubular goods (“OCTG”) business. See Note 2, “Disposition of OCTG Business” for further information regarding the sale. The Company’s results of operations for its disposed OCTG business have been presented as discontinued operations for all periods presented within the condensed consolidated statements of operations. Certain amounts from the prior year financial statements have been reclassified in order to conform to the current year presentation. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the entire fiscal year ending December 31, 2015.

Note 2 - Disposition of OCTG Bu

Note 2 - Disposition of OCTG Business	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	2. Disposition of OCTG Business On March 30, 2014 the Company completed the sale of substantially all of the assets and liabilities associated with its OCTG business, which was conducted by the Company at its manufacturing facilities in Bossier City, Louisiana and Houston, Texas, excluding the real property located in Houston, Texas. These facilities were previously included within the Company’s Tubular Products Group. Total consideration of $42.7 million was paid by the buyer, resulting in a loss on sale of $13.5 million ($12.1 million of which was recorded in the first quarter of 2014 and $1.4 million of which was recorded in the third quarter of 2014). The calculation of the loss on sale included a write down of $4.4 million of goodwill. Of the proceeds received, $4.3 million was placed in escrow to secure the Company’s indemnification obligations under the purchase agreement, $5.0 million was used to repay capital leases related to and secured by certain assets at the Bossier City, Louisiana manufacturing facility, $1.8 million was used to pay for transaction costs and $1.8 million was used to pay a net working capital adjustment made in September 2014, resulting in net proceeds of $29.8 million. In April 2015, the $4.3 million escrow was released to the Company. The table below presents the operating results for the Company’s discontinued operations (in thousands). The operating results for the three and nine months ended September 30, 2014 do not necessarily reflect what they would have been had the OCTG business not been classified as a discontinued operation. Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Net sales $ - $ 22,225 Cost of sales (46 ) 24,331 Gross profit (loss) 46 (2,106 ) Selling, general and administrative expense - 396 Operating income (loss) 46 (2,502 ) Interest expense - (99 ) Loss on sale of business (1,414 ) (13,497 ) Loss before income taxes (1,368 ) (16,098 ) Income tax benefit (531 ) (4,378 ) Loss on discontinued operations $ (837 ) $ (11,720 )

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories Inventories are stated at the lower of cost or market and consist of the following (in thousands): September 30, 2015 December 31, 2014 Short-term inventories: Raw materials $ 39,074 $ 48,005 Work-in-process 2,088 1,741 Finished goods 5,560 20,663 Supplies 2,439 2,370 Total short-term inventories 49,161 72,779 Long-term inventories: Finished goods 886 1,214 Total inventories $ 50,047 $ 73,993 Long-term inventories are recorded in other assets.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. Fair Value Measurements The Company records its financial assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. These levels are: Level 1 (inputs are quoted prices in active markets for identical assets or liabilities); Level 2 (inputs are other than quoted prices that are observable, either directly or indirectly through corroboration with observable market data); and Level 3 (inputs are unobservable, with little or no market data that exists, such as internal financial forecasts). The Company is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following table summarizes information regarding the Company’s financial assets and financial liabilities that are measured at fair value (in thousands): Balance at September 30, Description 2015 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,316 $ 5,028 $ 1,288 $ - Derivatives 185 - 185 - Total assets $ 6,501 $ 5,028 $ 1,473 $ - Financial liabilities Contingent consideration $ (2,955 ) $ - $ - $ (2,955 ) Balance at December 31, Description 2014 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,237 $ 4,953 $ 1,284 $ - Derivatives 32 - 32 - Total assets $ 6,269 $ 4,953 $ 1,316 $ - Financial liabilities Contingent consideration $ (2,679 ) $ - $ - $ (2,679 ) Derivatives (5 ) - (5 ) - Total liabilities $ (2,684 ) $ - $ (5 ) $ (2,679 ) The deferred compensation plan assets consist of cash and several publicly traded stock and bond mutual funds, valued using quoted market prices in active markets classified as Level 1 within the fair value hierarchy, as well as securities that are not actively traded on major exchanges, valued using the Net Asset Value (“NAV”) of the underlying investments classified as Level 2 within the fair value hierarchy. The Company’s derivatives consist of foreign currency forward contracts, which are accounted for as cash flow hedges, and are valued using various pricing models or discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates, classified as Level 2 within the valuation hierarchy. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or the Company. The contingent consideration liability is associated with the acquisition of Permalok® Corporation in December 2013 and represents the probability weighted average contingent payment as a percentage of high, mid, and low revenue projections. The inputs used to measure contingent consideration are classified as Level 3 within the valuation hierarchy. The valuation is not supported by market criteria and reflects the Company’s internal revenue forecasts. Changes in the fair value of the contingent consideration obligation will be reflected in cost of sales during the period the change occurs. If required as part of its annual goodwill impairment assessment, the Company calculates the business enterprise value of applicable reporting units. This calculation uses a weighted average of income and market approaches, and is classified as Level 3 in the valuation hierarchy. The income approach is primarily driven by inputs from the Company’s internal financial forecasts. The market approach incorporates inputs from market participant data, as well as inputs derived from Company assumptions. In the second quarter of 2015, this analysis resulted in the impairment of Water Transmission goodwill of $5.3 million. The net carrying amounts of cash and cash equivalents, trade and other receivables, accounts payable, accrued liabilities and borrowings on line of credit approximate fair value due to the short-term nature of these instruments.

Note 5 - Derivative Instruments

Note 5 - Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	5. Derivative Instruments and Hedging Activities The Company conducts business in various foreign countries and, from time to time, settles transactions in foreign currencies. The Company has established a program that utilizes foreign currency forward contracts to offset the risk associated with the effects of certain foreign currency exposures, typically arising from sales contracts denominated in Canadian currency. Instruments that do not qualify for cash flow hedge accounting treatment are remeasured at fair value on each balance sheet date and resulting gains and losses are recognized in income. As of September 30, 2015 and December 31, 2014, all derivative contracts held by the Company were designated as hedges. As of September 30, 2015 and December 31, 2014, the total notional amount of the derivative contracts designated as hedges was $3.4 million (CAD$4.6 million) and $1.3 million (CAD$1.5 million), respectively. Derivative assets are included within prepaid expenses and other current assets and derivative liabilities are included within accrued liabilities in the condensed consolidated balance sheets. All of the Company’s foreign currency forward contracts are subject to an enforceable master netting arrangement. The Company presents the assets and liabilities associated with its foreign currency forward contracts at their gross fair values within the condensed consolidated balance sheets. For each derivative contract entered into in which the Company seeks to obtain cash flow hedge accounting treatment, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking the hedge transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method of measuring ineffectiveness. This process includes linking all derivatives to specific firm commitments or forecasted transactions and designating the derivatives as cash flow hedges. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative contracts that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of these hedged items is reflected in other comprehensive income in stockholders’ equity. If it is determined that a derivative contract is not highly effective, or that it has ceased to be a highly effective hedge, the Company will be required to discontinue hedge accounting with respect to that derivative contract prospectively. All of the Company’s Canadian forward contracts have maturities not longer than 12 months as of September 30, 2015. For both the three and nine months ended September 30, 2015, gains from derivative contracts not designated as hedging instruments recognized in net sales totaled $0.2 million. For the three and nine months ended September 30, 2014, gains from derivative contracts not designated as hedging instruments recognized in net sales were $0.2 million and $0.1 million, respectively. At September 30, 2015 and September 30, 2014, there was $18,000 of unrealized pretax gain on outstanding derivatives in accumulated other comprehensive loss. Substantially all of the amount in accumulated other comprehensive loss at September 30, 2015 is expected to be reclassified to net sales within the next 12 months as a result of underlying hedged transactions also being recorded in net sales. See Note 11, “Accumulated Other Comprehensive Loss” for additional quantitative information regarding derivative gains and losses.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6. Commitments and Contingencies Portland Harbor Superfund On December 1, 2000, a section of the lower Willamette River known as the Portland Harbor Site was included on the National Priorities List at the request of the United States Environmental Protection Agency (the “EPA”). While the Company’s Portland, Oregon manufacturing facility does not border the Willamette River, an outfall from the facility’s stormwater system drains into a neighboring property’s privately owned stormwater system and slip. Since the listing of the site, the Company was notified by the EPA and the Oregon Department of Environmental Quality (“ODEQ”) of potential liability under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”). In 2008, the Company was asked to file information disclosure reports with the EPA (CERCLA 104 (e) information request). By agreement with the EPA, ODEQ is responsible for overseeing remedial investigation and source control activities for all upland sites to investigate sources and prevent future contamination to the river. A remedial investigation and feasibility study (“RI/FS”) of the Portland Harbor Site has been directed by a group of 14 potentially responsible parties known as the Lower Willamette Group (the “LWG”) under agreement with the EPA. The Company made a payment of $0.2 million to the LWG in June 2007 as part of an interim settlement, and is under no obligation to make any further payment. The final draft remedial investigation (“RI”) was submitted to the EPA by the LWG in fall of 2011 and the draft feasibility study (“FS”) was submitted by the LWG to the EPA in March 2012. The 2015 draft FS identifies six possible remedial alternatives which range in estimated cost from approximately $790 million to $2.5 billion and estimates it will take up to 18 years to implement the remedial work, depending on the selected alternative. The report does not determine who is responsible for the costs of cleanup or how the cleanup costs will be allocated among the potentially responsible parties. As of the date of this filing, the final RI and the revised FS are pending approval of the EPA. In 2001, groundwater containing elevated volatile organic compounds (“VOCs”) was identified in one localized area of leased property adjacent to the Portland facility furthest from the river. Assessment work in 2002 and 2003 to further characterize the groundwater was consistent with the initial conclusion that the source of the VOCs is located off of Company-owned property. In February 2005, the Company entered into a Voluntary Agreement for Remedial Investigation and Source Control Measures (the “Agreement”) with ODEQ. The Company is one of many Upland Source Control Sites working with ODEQ on Source Control and is considered a “medium” priority site by ODEQ indicating more investigation was recommended. The Company performed RI work required under the Agreement and submitted a draft RI/Source Control Evaluation Report (“SCE”) in December 2005, a revised draft RI/SCE Report in January 2014, and a further revised RI/SCE Report in March 2015. The conclusions of the report include: (1) the VOCs found in the groundwater do not present an unacceptable risk to human or ecological receptors in the Willamette River; (2) there is no evidence at this time showing a connection between detected VOCs in groundwater and Willamette River sediments; (3) the interim remedial measure to conduct a limited excavation of soil and full paving of the site was completed; (4) a state-of-the art stormwater treatment system was installed; and (5) an area of stained soil was characterized and remediated. In May 2015, and subsequently in August and October 2015, the Company received the EPA’s and ODEQ’s comments, respectively, requesting additional information and modifications to the revised RI/SCE Report. The Company is working with consultants to address the comments and questions from the EPA and ODEQ. During the limited soil excavation, additional stained soil was discovered. At the request of ODEQ, the Company developed an additional Work Plan to characterize the nature and extent of soil and/or groundwater impacts from the staining. The Company began implementing this Work Plan in the second quarter of 2012 and submitted sampling results to ODEQ in the third quarter of 2012. Comments from ODEQ were received in November 2012. In February 2013, ODEQ clarified its comments from November 2012, and the Company completed its second round of groundwater sampling for the stained soil investigation area in May and November 2013. The results were reported to ODEQ in the January 2014 and March 2015 RI/SCE Reports. The Company spent $0.1 million for further Source Control work in 2014, and anticipates having to spend less than $0.2 million in 2015. Concurrent with the activities of the EPA and ODEQ, the Portland Harbor Natural Resources Trustee Council (“Trustees”) sent some or all of the same parties, including the Company, a notice of intent to perform a Natural Resource Damage Assessment (“NRDA”) for the Portland Harbor Site to determine the nature and extent of natural resource damages under CERCLA section 107. The Trustees for the Portland Harbor Site consist of representatives from several Northwest Indian Tribes, three federal agencies and one state agency. The Trustees act independently of the EPA and ODEQ. The Trustees have encouraged potentially responsible parties to voluntarily participate in the funding of their injury assessments and several of those parties have agreed to do so. In June 2014, the Company agreed to participate in the injury assessment process, which included funding $0.4 million of the assessment; of this amount, $0.2 million was paid in July 2014 and the remainder was paid in January 2015. The Company has not assumed any additional payment obligations or liabilities with the participation with the NRDA. The Company’s potential liability is a portion of the costs of the remedy the EPA will select for the entire Portland Harbor Superfund Site. The cost of that remedy is expected to be allocated among more than 100 potentially responsible parties. Because of the large number of responsible parties and the variability in the range of remediation alternatives, the Company is unable to estimate an amount or an amount within a range of costs for its obligation with respect to the Portland Harbor Site matters, and no further adjustment to the consolidated financial statements has been recorded as of the date of this filing. The Company has insurance policies for defense costs, as well as indemnification policies it believes will provide reimbursement for any share of the remediation assessed. However, the Company can provide no assurance that those policies will cover all of the costs which the Company may incur. In December 2014, a federal district court approved settlements between the Company and two of its insurance carriers. The Company released its interests in the related insurance policies, and received $2.6 million in January 2015 for reimbursement of past indemnification and defense costs incurred by the Company associated with the Portland Harbor Site, substantially all of which reduced cost of sales in 2014. Notwithstanding these settlements, the Company continues to have insurance coverage for indemnification and defense costs related to the Portland Harbor Site as described above. Houston Environmental Issue In connection with the Company’s sale of its OCTG business, a Limited Phase II Environmental Site Assessment was conducted at the Houston, Texas plant and completed in March 2014, which revealed the presence of VOCs in the groundwater and certain metals in the soil. In June 2014, the Company was accepted into the Texas Commission on Environmental Quality (“TCEQ”) Voluntary Cleanup Program (“VCP”) to address these issues and obtain a Certificate of Completion from TCEQ. The cost of any potential cleanup will not be covered by insurance. However, any costs incurred will be reimbursed by the purchaser of the OCTG business discussed in Note 2, “Disposition of OCTG Business” if the purchaser of the OCTG business exercises its option to purchase the property under certain circumstances after the Certificate of Completion is obtained. While the final remediation approach has not yet been determined, the Company has completed an initial assessment and currently estimates the future costs associated with the VCP to be between $0.2 million and $2.4 million. At September 30, 2015, the Company has a $0.3 million accrual for remediation costs based on the low-end estimate of future costs using a probability-weighted analysis of remediation approaches and estimates closure of the issue to occur between the first quarter of 2017 and the third quarter of 2018. The proposed remediation approach includes a municipal ordinance to prevent consumption of shallow groundwater from beneath the property, thereby eliminating the need for more costly remediation measures. Site assessment and monitoring activities are currently underway to satisfy the requirements of the City of Houston and TCEQ for implementation of the municipal ordinance. All Sites The Company operates its facilities under numerous governmental permits and licenses relating to air emissions, storm water run-off, and other environmental matters. The Company’s operations are also governed by many other laws and regulations, including those relating to workplace safety and worker health, principally the Occupational Safety and Health Act and regulations there under which, among other requirements, establish noise and dust standards. The Company believes it is in material compliance with its permits and licenses and these laws and regulations, and the Company does not believe that future compliance with such laws and regulations will have a material adverse effect on its financial position, results of operations or cash flows. From time to time, the Company is involved in litigation relating to claims arising out of its operations in the normal course of its business. The Company maintains insurance coverage against potential claims in amounts that are believed to be adequate. To the extent that insurance does not cover legal, defense, and indemnification costs associated with a loss contingency, such costs will be expensed as incurred. The Company believes that it is not presently a party to any other litigation, the outcome of which would have a material adverse effect on its business, financial condition, results of operations or cash flows. Guarantees The Company has entered into certain stand-by letters of credit that total $2.1 million at September 30, 2015. The stand-by letters of credit relate to workers’ compensation insurance.

Note 7 - Segment Information

Note 7 - Segment Information	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7. Segment Information The Company’s business is the manufacturing of welded steel pipe. Within this business, the Company’s operations are organized into two reportable segments: the Water Transmission Group and the Tubular Products Group. These reportable segments are based on the nature of the products and the manufacturing process. The two segments represent distinct business activities, which management evaluates based on segment gross profit and operating income. Transfers between segments in the periods presented were not material. The Water Transmission Group manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. These products are also used for hydroelectric power systems, wastewater systems and other applications. In addition, the Water Transmission Group makes products for industrial plant piping systems and certain structural applications. The Tubular Products Group manufactures and markets smaller diameter, electric resistance welded steel pipe used in a wide range of applications, including energy, construction, agriculture and industrial systems. The Tubular Products Group also manufactured and marketed OCTG products through March 30, 2014. The operating results of the OCTG business have been classified as discontinued operations and are not included in the operating results presented below. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Net sales: Water transmission $ 39,792 $ 76,857 $ 134,479 $ 182,061 Tubular products 12,543 39,648 56,567 119,079 Total $ 52,335 $ 116,505 $ 191,046 $ 301,140 Gross profit (loss): Water transmission $ (725 ) $ 16,559 $ 8,049 $ 29,718 Tubular products (1,786 ) (739 ) (9,262 ) 1,733 Total $ (2,511 ) $ 15,820 $ (1,213 ) $ 31,451 Operating income (loss): Water transmission (1) $ (2,384 ) $ 14,429 $ (2,566 ) $ 23,673 Tubular products (2,298 ) (1,155 ) (11,169 ) 550 Corporate (2,602 ) (3,943 ) (9,959 ) (10,619 ) Total $ (7,284 ) $ 9,331 $ (23,694 ) $ 13,604 (1) Operating loss for the Water Transmission Group for the nine months ended September 30, 2015 includes the write-off of Water Transmission goodwill of $5.3 million in the second quarter of 2015.

Note 8 - Share-based Compensati

Note 8 - Share-based Compensation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8. Share-based Compensation The Company has one active stock incentive plan for employees and directors: the 2007 Stock Incentive Plan, which provides for awards of stock options to purchase shares of common stock, stock appreciation rights, restricted and unrestricted shares of common stock, restricted stock units (RSUs) and performance share awards (PSAs). In addition, the Company has one inactive stock option plan, the 1995 Stock Option Plan for Nonemployee Directors, under which previously granted options remain outstanding. The Company recognizes compensation cost as service is rendered based on the fair value of the awards. The following table summarizes share-based compensation expense recorded (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Cost of sales $ 116 $ 62 $ 296 $ 154 Selling, general and administrative expenses 91 820 1,044 1,913 Total $ 207 $ 882 $ 1,340 $ 2,067 As of September 30, 2015, unrecognized compensation expense related to the unvested portion of the Company’s RSUs and PSAs was $1.7 million, which is expected to be recognized over a weighted average period of 1.1 years. Stock Option Awards A summary of the status of the Company’s stock options as of September 30, 2015 and changes during the nine months then ended is presented below: Options Outstanding Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (In thousands) Balance, January 1, 2015 38,000 $ 26.05 Options granted - - Options exercised (2,000 ) 22.07 Options cancelled (4,000 ) 28.42 Balance, September 30, 2015 32,000 26.00 3.54 $ - Exercisable, September 30, 2015 32,000 26.00 3.54 $ - Restricted Stock Units and Performance Stock Awards A summary of the status of the Company’s RSUs and PSAs as of September 30, 2015 and changes during the nine months then ended is presented below: Number of RSUs and PSAs Weighted Average Grant Date Fair Value Balance, January 1, 2015 231,215 $ 36.34 RSUs and PSAs granted - - RSUs and PSAs vested (49,403 ) 30.01 RSUs and PSAs canceled (50,707 ) 35.93 Balance, September 30, 2015 131,105 38.88 RSUs and PSAs are measured at the estimated fair value on the date of grant. RSUs are service-based awards and vest according to vesting schedules, which range from immediate to ratably over a three-year period. PSAs are service-based awards that vest over a three-year period and have a market-based payout condition. Vesting of the market-based PSAs is dependent upon the performance of the market price of the Company’s stock relative to a peer group of companies. The unvested balance of RSUs and PSAs at September 30, 2015 includes approximately 113,000 PSAs at a target level of performance; the actual number of common shares that will ultimately be issued will be determined by multiplying this number of PSAs by a payout percentage ranging from 0% to 200%. Stock Awards For the nine months ended September 30, 2015 and 2014, stock awards of 10,464 and 9,150 shares, respectively, were granted to non-employee directors, which vested immediately upon issuance. The Company recorded compensation expense based on the fair market value per share of the awards on the grant date of $21.02 and $36.07 in 2015 and 2014, respectively.

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes The Company files income tax returns in the United States Federal jurisdiction, in a limited number of foreign jurisdictions, and in many state jurisdictions. Internal Revenue Service examinations have been completed for years prior to 2011. With few exceptions, the Company is no longer subject to U.S. Federal, state or foreign income tax examinations for years before 2011. The Company is currently under Colorado income tax audit for the years 2009 to 2013. It is reasonably possible that the Company will close the audit within the next 12-month period. Such resolution is not anticipated to have a significant impact on our results of operations. There are no other income tax audits in progress. The Company had $4.7 million and $2.3 million of unrecognized tax benefits at September 30, 2015 and December 31, 2014, respectively. The Company believes it is reasonably possible that the total amounts of unrecognized tax benefits will decrease in the following twelve months due to the expiration of certain statues of limitations; however, actual results could differ from those currently expected. Effectively all the unrecognized tax benefits would affect the Company’s effective tax rate if recognized at some point in the future. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company provided for income taxes from continuing operations at an estimated effective tax rate of 79.7% and 35.5% for the three and nine months ended September 30, 2015, and an estimated effective tax rate of 35.9% and 35.8% for the three and nine months ended September 30, 2014, respectively. The Company completed a research and development (R&D) tax credit study for 2014 in the third quarter of 2015, resulting in a significantly higher credit than previously estimated; therefore, a discrete benefit of $2.5 million was recorded, which affected the Company’s effective tax benefit rate in the third quarter of 2015. In the first nine months ended September 30, 2015, after considering the guidance for accounting for income taxes, and weighing the positive and negative evidence including the Company’s recent history of cumulative losses, the Company recorded a $1.9 million valuation allowance on a portion of its deferred tax assets, primarily related to state net operating loss carry forwards and state credits. The effective tax rate for the nine months ended September 30, 2015 includes the impact of the recognition of R&D tax credits (which increased the effective benefit rate) as well as the non-deductibility of expense related to the impairment of goodwill and the valuation allowance recorded (both of which decreased the effective benefit rate).

Note 10 - Income (loss) per Sha

Note 10 - Income (loss) per Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	10. Income (loss) per Share Income (loss) per basic and diluted weighted average common share outstanding for continuing and discontinued operations were calculated as follows for the three and nine months ended September 30, 2015 and 2014 (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Income (loss) from continuing operations $ (1,515 ) $ 5,858 $ (15,695 ) $ 7,829 Income (loss) from discontinued operations - (837 ) - (11,720 ) Net income (loss) $ (1,515 ) $ 5,021 $ (15,695 ) $ (3,891 ) Basic weighted-average common shares outstanding 9,565 9,519 9,558 9,513 Effect of potentially dilutive common shares (1) - 97 - 82 Diluted weighted-average common shares outstanding 9,565 9,616 9,558 9,595 Income (loss) per basic common share Continuing operations $ (0.16 ) $ 0.62 $ (1.64 ) $ 0.82 Discontinued operations - (0.09 ) - (1.23 ) Total $ (0.16 ) $ 0.53 $ (1.64 ) $ (0.41 ) Income (loss) per diluted common share Continuing operations $ (0.16 ) $ 0.61 $ (1.64 ) $ 0.82 Discontinued operations - (0.09 ) - (1.23 ) Total $ (0.16 ) $ 0.52 $ (1.64 ) $ (0.41 ) (1) Represents the effect of the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards, based on the treasury stock method. Due to the Company’s loss from continuing operations in the three and nine month periods ended September 30, 2015, the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards using the treasury stock method would have had an antidilutive effect and were therefore excluded from the computation of diluted loss per share. The weighted average number of such antidilutive shares not included in the computation of diluted loss per share was 163,000 and 185,000 for the three and nine month periods ended September 30, 2015, respectively. In both the three and nine month periods ended September 30, 2014, there were 65,000 shares from the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards using the treasury stock method that were excluded from the calculation of diluted earnings per share because to include these shares would have had an antidilutive effect.

Note 11 - Accumulated Other Com

Note 11 - Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11. Accumulated Other Comprehensive Loss The following tables summarize changes in the components of accumulated other comprehensive loss during the nine months ended September 30, 2015 and September 30, 2014 (in thousands). All amounts are net of tax: Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2013 $ (1,275 ) $ 14 $ (1,261 ) Other comprehensive income (loss) before reclassifications 107 1 108 Amounts reclassified from accumulated other comprehensive income (loss) 84 (1 ) 83 Net current period other comprehensive income (loss) 191 - 191 Balance, September 30, 2014 $ (1,084 ) $ 14 $ (1,070 ) Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2014 $ (1,862 ) $ 29 $ (1,833 ) Other comprehensive income (loss) before reclassifications 167 76 243 Amounts reclassified from accumulated other comprehensive income (loss) 160 (92 ) 68 Net current period other comprehensive income (loss) 327 (16 ) 311 Balance, September 30, 2015 $ (1,535 ) $ 13 $ (1,522 ) The following table provides additional detail about accumulated other comprehensive income (loss) components that were reclassified to the condensed consolidated statement of operations during the nine months ended September 30, 2015 and 2014 (in thousands): Nine Months Ended September 30, 2015 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from Accumulated Other Comprehensive Income (Loss) Affected line item in the Condensed Consolidated Statement of Operations Pension liability adjustment Net periodic pension cost $ (255 ) $ (130 ) Cost of sales Associated tax benefit 95 46 Income tax expense (benefit) (160 ) (84 ) Net of tax Deferred gain on cash flow derivatives Gain on cash flow derivatives 148 4 Net sales Hedge ineffectiveness (1 ) (2 ) Net sales Associated tax expense (55 ) (1 ) Income tax expense (benefit) 92 1 Net of tax Total reclassifications for the period $ (68 ) $ (83 )

Note 12 - Recent Accounting and

Note 12 - Recent Accounting and Reporting Developments	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	1 2 . Recent Accounting and Reporting Developments In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which will replace most existing revenue recognition guidance in accordance with U.S. GAAP. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The ASU will be effective for the Company beginning January 1, 2018, including interim periods in 2018, and allows for both retrospective and prospective methods of adoption. The effective dates listed above reflect the FASB’s final decision made in July 2015 to delay implementation of the ASU by one year. The Company is still evaluating the effect this standard will have on the Company’s financial position, results of operations or cash flows from adoption of this guidance. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern.” This Update requires management to evaluate for each annual and interim reporting period whether it is probable that the reporting entity will not be able to meet its obligations as they become due within one year after the date that the financial statements are issued. If the entity is in such a position, the standard provides for certain disclosures depending on whether or not the entity will be able to successfully mitigate its going concern status. This guidance is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. Early application is permitted. The Company does not expect a material impact to the Company’s financial position, results of operations or cash flows from the adoption of this guidance. In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidation Analysis.” The changes in this Update revise consolidation analysis and affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. The changes become effective for the Company on January 1, 2016. The Company has determined that these changes will not have a material impact on the Company's condensed consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” This update simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in the update. The ASU will be effective for the Company beginning January 1, 2016 including interim periods in 2016. When implemented by the Company, the balance of debt issuance costs related to term debt will be netted against the Company’s term debt included in long-term liabilities. Debt issuance costs related to the Company’s revolving line of credit will continue to be classified as a deferred charge and amortized over the term of the revolving line of credit arrangement. The Company currently does not have any term debt. Implementation will be on a retrospective basis, wherein the balance sheet of each individual period presented will be adjusted to reflect the period-specific effects of applying the new guidance. The Company does not expect a material impact to the Company’s financial position, results of operations or cash flows from adoption of this guidance. In April 2015, the FASB issued ASU 2015-04, “Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets.” For an entity with a fiscal year-end that does not coincide with a month-end, the amendments in this Update provide a practical expedient that permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. It also provides a similar practical expedient for significant events that happens in an interim period that would otherwise require a re-measurement. The amendments in this update permits using the month-end that is closest to the date of the significant event. The ASU will be effective for the Company beginning January 1, 2016. The Company does not expect a material impact to the Company’s financial position, results of operations or cash flows from adoption of this guidance. In May 2015, the FASB issued ASU 2015-07, “Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” The amendments in this Update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The ASU will be effective for the Company beginning January 1, 2016. The Company does not expect a material impact to the Company’s financial position, results of operations or cash flows from adoption of this guidance. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” As a result of this Update, companies will be required to measure inventory at the lower of cost and net realizable value. This is a change from the prior requirement to value inventory at the lower of cost or market. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory valued using the LIFO or retail inventory method is exempt from this Update. The ASU will be effective for the Company beginning January 1, 2017. The Company is in the process of evaluating the Update to determine its expected future effect on the Company’s financial position, results of operations or cash flows from adoption of this guidance. In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments.” This update eliminates the requirement to restate prior period financial statements for measurement period adjustments in a business combination. The new guidance requires that the cumulative impact of a measurement adjustment (including the impact on prior periods) be recognized in the reporting period in which the adjustment is identified. The ASU will be effective for the Company beginning January 1, 2016. The Company does not expect a material impact to the Company’s financial position, results of operations or cash flows from adoption of this guidance.

Note 13 - Restructuring

Note 13 - Restructuring	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	1 3 . Restructuring In April 2015, the Company initiated a production curtailment at its Atchison, Kansas facility within the Tubular Products Group. Severance related restructuring costs associated with the production curtailment were approximately $0.5 million. The entire amount was incurred and paid during the second quarter of 2015, and is included in Cost of sales for that period.

Note 14 - Goodwill

Note 14 - Goodwill	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Goodwill Disclosure [Text Block]	14. Goodwill At December 31, 2014, the Company’s Goodwill of $5.3 million related entirely to its Water Transmission Group reporting unit. GAAP requires that goodwill of a reporting unit shall be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Due to Water Transmission market conditions, the Company determined that its Water Transmission Group goodwill may have been impaired at June 30, 2015, and completed the first step of the two-step quantitative goodwill impairment test. In the first step, business enterprise value of the reporting unit was calculated by using a combination of income and market approaches, and compared to the carrying value. As the carrying value of the Water Transmission Group reporting unit exceeded the calculated enterprise value, the Company determined it was appropriate to proceed to the second step of the quantitative impairment test. As a result of the analysis performed at that date, the Company’s best estimate of the ultimate result of the second step of the goodwill quantitative impairment test was that all of the Water Transmission Group goodwill was impaired. Therefore, the Water Transmission Group goodwill was completely written off as of June 30, 2015. There was no adjustment to that estimate upon completion of the measurement of the impairment loss in the three month period ending September 30, 2015.

Note 15 - Related Party Transac

Note 15 - Related Party Transaction	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	15. Related Party Transaction In the second quarter of 2015, the Company engaged Raymond James & Associates, an affiliate of Eagle Asset Management, to provide investment banking services related to a possible disposition of the Company’s Tubular Products business. Eagle Asset Management was a substantial stockholder of the Company (owning more than 10 percent of the Company’s common stock) until September 30, 2015, when Eagle Asset Management reported that it then owned less than 5 percent of the Company’s common stock. Approximately $17,000 of reimbursable expenses was incurred by Raymond James during the nine month period ended September 30, 2015, of which $12,000 was paid by September 30, 2015. Professional fees payable to Raymond James will be contingent upon completion of a future transaction, which may or may not occur.

Note 16 - Subsequent Event

Note 16 - Subsequent Event	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	16. Subsequent Event On October 26, 2015, the Company entered into a Loan and Security Agreement (the “Agreement”) with Bank of America, N.A. The Agreement provides for revolving loans and letters of credit in the aggregate amount of up to $60 million, subject to a borrowing base. The borrowing base is calculated by applying various advance rates to eligible accounts receivable, costs and expected earnings in excess of billings, inventories, and fixed assets, subject to various exclusions, adjustments, and sublimits. Borrowings under the Agreement will bear interest at rates related to LIBOR plus 1.75% to 2.25%, or at Bank of America’s prime rate plus 0.75% to 1.25%. The Agreement will expire on October 25, 2018. Borrowings under the Agreement are secured by substantially all of the Company’s assets. As of October 26, 2015, the Company had no outstanding borrowings under the Agreement, but did have two outstanding letters of credit issued under the Agreement, in the aggregate amount of $2.1 million. A copy of the 2015 Credit Agreement was filed as an exhibit to the Form 8-K the Company filed on October 29, 2015. In conjunction with entering into the Loan and Security Agreement, the Company terminated the Second Amended and Restated Credit Agreement dated as of October 24, 2012. The Company expects to incur incremental interest expense of approximately $0.4 million during the fourth quarter of 2015 related to the write-off of unamortized financing costs associated with the terminated agreement.

Note 2 - Disposition of OCTG 23

Note 2 - Disposition of OCTG Business (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Net sales $ - $ 22,225 Cost of sales (46 ) 24,331 Gross profit (loss) 46 (2,106 ) Selling, general and administrative expense - 396 Operating income (loss) 46 (2,502 ) Interest expense - (99 ) Loss on sale of business (1,414 ) (13,497 ) Loss before income taxes (1,368 ) (16,098 ) Income tax benefit (531 ) (4,378 ) Loss on discontinued operations $ (837 ) $ (11,720 )

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule Of Inventory Current And Non Current [Table Text Block]	September 30, 2015 December 31, 2014 Short-term inventories: Raw materials $ 39,074 $ 48,005 Work-in-process 2,088 1,741 Finished goods 5,560 20,663 Supplies 2,439 2,370 Total short-term inventories 49,161 72,779 Long-term inventories: Finished goods 886 1,214 Total inventories $ 50,047 $ 73,993

Note 4 - Fair Value Measureme25

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Balance at September 30, Description 2015 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,316 $ 5,028 $ 1,288 $ - Derivatives 185 - 185 - Total assets $ 6,501 $ 5,028 $ 1,473 $ - Financial liabilities Contingent consideration $ (2,955 ) $ - $ - $ (2,955 ) Balance at December 31, Description 2014 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,237 $ 4,953 $ 1,284 $ - Derivatives 32 - 32 - Total assets $ 6,269 $ 4,953 $ 1,316 $ - Financial liabilities Contingent consideration $ (2,679 ) $ - $ - $ (2,679 ) Derivatives (5 ) - (5 ) - Total liabilities $ (2,684 ) $ - $ (5 ) $ (2,679 )

Note 7 - Segment Information (T

Note 7 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule Of Segment Reporting Information By Segment Statement Of Operations [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Net sales: Water transmission $ 39,792 $ 76,857 $ 134,479 $ 182,061 Tubular products 12,543 39,648 56,567 119,079 Total $ 52,335 $ 116,505 $ 191,046 $ 301,140 Gross profit (loss): Water transmission $ (725 ) $ 16,559 $ 8,049 $ 29,718 Tubular products (1,786 ) (739 ) (9,262 ) 1,733 Total $ (2,511 ) $ 15,820 $ (1,213 ) $ 31,451 Operating income (loss): Water transmission (1) $ (2,384 ) $ 14,429 $ (2,566 ) $ 23,673 Tubular products (2,298 ) (1,155 ) (11,169 ) 550 Corporate (2,602 ) (3,943 ) (9,959 ) (10,619 ) Total $ (7,284 ) $ 9,331 $ (23,694 ) $ 13,604

Note 8 - Share-based Compensa27

Note 8 - Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Cost of sales $ 116 $ 62 $ 296 $ 154 Selling, general and administrative expenses 91 820 1,044 1,913 Total $ 207 $ 882 $ 1,340 $ 2,067
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Outstanding Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (In thousands) Balance, January 1, 2015 38,000 $ 26.05 Options granted - - Options exercised (2,000 ) 22.07 Options cancelled (4,000 ) 28.42 Balance, September 30, 2015 32,000 26.00 3.54 $ - Exercisable, September 30, 2015 32,000 26.00 3.54 $ -
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]	Number of RSUs and PSAs Weighted Average Grant Date Fair Value Balance, January 1, 2015 231,215 $ 36.34 RSUs and PSAs granted - - RSUs and PSAs vested (49,403 ) 30.01 RSUs and PSAs canceled (50,707 ) 35.93 Balance, September 30, 2015 131,105 38.88

Note 10 - Income (loss) per S28

Note 10 - Income (loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Income (loss) from continuing operations $ (1,515 ) $ 5,858 $ (15,695 ) $ 7,829 Income (loss) from discontinued operations - (837 ) - (11,720 ) Net income (loss) $ (1,515 ) $ 5,021 $ (15,695 ) $ (3,891 ) Basic weighted-average common shares outstanding 9,565 9,519 9,558 9,513 Effect of potentially dilutive common shares (1) - 97 - 82 Diluted weighted-average common shares outstanding 9,565 9,616 9,558 9,595 Income (loss) per basic common share Continuing operations $ (0.16 ) $ 0.62 $ (1.64 ) $ 0.82 Discontinued operations - (0.09 ) - (1.23 ) Total $ (0.16 ) $ 0.53 $ (1.64 ) $ (0.41 ) Income (loss) per diluted common share Continuing operations $ (0.16 ) $ 0.61 $ (1.64 ) $ 0.82 Discontinued operations - (0.09 ) - (1.23 ) Total $ (0.16 ) $ 0.52 $ (1.64 ) $ (0.41 )

Note 11 - Accumulated Other C29

Note 11 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2013 $ (1,275 ) $ 14 $ (1,261 ) Other comprehensive income (loss) before reclassifications 107 1 108 Amounts reclassified from accumulated other comprehensive income (loss) 84 (1 ) 83 Net current period other comprehensive income (loss) 191 - 191 Balance, September 30, 2014 $ (1,084 ) $ 14 $ (1,070 ) Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2014 $ (1,862 ) $ 29 $ (1,833 ) Other comprehensive income (loss) before reclassifications 167 76 243 Amounts reclassified from accumulated other comprehensive income (loss) 160 (92 ) 68 Net current period other comprehensive income (loss) 327 (16 ) 311 Balance, September 30, 2015 $ (1,535 ) $ 13 $ (1,522 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Nine Months Ended September 30, 2015 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from Accumulated Other Comprehensive Income (Loss) Affected line item in the Condensed Consolidated Statement of Operations Pension liability adjustment Net periodic pension cost $ (255 ) $ (130 ) Cost of sales Associated tax benefit 95 46 Income tax expense (benefit) (160 ) (84 ) Net of tax Deferred gain on cash flow derivatives Gain on cash flow derivatives 148 4 Net sales Hedge ineffectiveness (1 ) (2 ) Net sales Associated tax expense (55 ) (1 ) Income tax expense (benefit) 92 1 Net of tax Total reclassifications for the period $ (68 ) $ (83 )

Note 2 - Disposition of OCTG 30

Note 2 - Disposition of OCTG Business (Details Textual) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended			9 Months Ended		12 Months Ended
	Apr. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Disposal of OCTG Business [Member]
Proceeds from Sale of Productive Assets			$ 42,700
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		$ 1,800			$ (1,400)	$ (12,100)			$ (13,500)
Goodwill, Written off Related to Sale of Business Unit			4,400
Business Acquisition Purchase Price Amount Held In Escrow To Secure Indemnification Obligations			4,300			4,300
Repayments of Debt and Capital Lease Obligations			5,000
Business Acquisition, Transaction Costs			$ 1,800			$ 1,800
Proceeds from Divestiture of Businesses		$ 29,800
Escrow Deposit Released	$ 4,300
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax					$ (1,414)			$ (13,497)
Proceeds from Divestiture of Businesses							$ 4,300	$ 29,791

Note 2 - Summary of Operating R

Note 2 - Summary of Operating Results for Company's Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Net sales		$ 22,225
Cost of sales	$ (46)	24,331
Gross profit (loss)	$ 46	(2,106)
Selling, general and administrative expense		396
Operating income (loss)	$ 46	(2,502)
Interest expense		(99)
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	$ (1,414)	(13,497)
Loss before income taxes	(1,368)	(16,098)
Income tax benefit	(531)	(4,378)
Loss on discontinued operations	$ (837)	$ (11,720)

Note 3 - Components of Inventor

Note 3 - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Short-term inventories:
Raw materials	$ 39,074	$ 48,005
Work-in-process	2,088	1,741
Finished goods	5,560	20,663
Supplies	2,439	2,370
Total short-term inventories	49,161	72,779
Long-term inventories:
Finished goods	886	1,214
Total inventories	$ 50,047	$ 73,993

Note 4 - Fair Value Measureme33

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Water Transmission Group [Member]
Goodwill, Impairment Loss		$ 5,300
Goodwill, Impairment Loss				$ 5,282

Note 4 - Assets and Liabilities

Note 4 - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Financial assets
Deferred compensation plan	$ 5,028	$ 4,953
Derivatives
Total assets	$ 5,028	$ 4,953
Financial liabilities
Contingent consideration
Derivatives
Total liabilities
Fair Value, Inputs, Level 2 [Member]
Financial assets
Deferred compensation plan	$ 1,288	$ 1,284
Derivatives	185	32
Total assets	$ 1,473	$ 1,316
Financial liabilities
Contingent consideration
Derivatives		$ (5)
Total liabilities		$ (5)
Fair Value, Inputs, Level 3 [Member]
Financial assets
Deferred compensation plan
Derivatives
Total assets
Financial liabilities
Contingent consideration	$ (2,955)	$ (2,679)
Derivatives
Total liabilities		$ (2,679)
Deferred compensation plan	6,316	6,237
Derivatives	185	32
Total assets	6,501	6,269
Contingent consideration	$ (2,955)	(2,679)
Derivatives		(5)
Total liabilities		$ (2,684)

Note 5 - Derivative Instrumen35

Note 5 - Derivative Instruments and Hedging Activities (Details Textual) CAD in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015CAD	Sep. 30, 2015USD ($)	Dec. 31, 2014CAD	Dec. 31, 2014USD ($)
Designated as Hedging Instrument [Member]
Derivative, Notional Amount							CAD 1.5	$ 1,300,000
Maximum [Member]
Maturity Period For Forward Contracts			1 year
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 200,000	$ 200,000	$ 200,000	$ 100,000
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months		$ 18,000		$ 18,000		$ 18,000
Derivative, Notional Amount					CAD 4.6	$ 3,400,000

Note 6 - Commitments and Cont36

Note 6 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended			9 Months Ended
	Jan. 31, 2015USD ($)	Jul. 31, 2014USD ($)	Jun. 30, 2007USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2014USD ($)
Portland Harbor Natural Resources Trustee Council [Member]
Loss Contingency Accrual, Payments	$ 0.2	$ 0.2
Loss Contingency, Accrual, Current						$ 0.4
Voluntary Cleanup Program [Member] | Minimum [Member]
Loss Contingency, Estimate of Possible Loss				$ 0.2
Voluntary Cleanup Program [Member] | Maximum [Member]
Loss Contingency, Estimate of Possible Loss				2.4
Voluntary Cleanup Program [Member] | Estimated [Member]
Accrual for Environmental Loss Contingencies				0.3
Minimum [Member]
Estimated Cost of Epa Selected Remedy				790
Maximum [Member]
Estimated Cost of Epa Selected Remedy				$ 2,500
Estimated Time to Complete Selected Epa Remedy				18 years
Litigation Settlement, Amount			$ 0.2
Amount Spent To Complete Work Specified In Work Plans				$ 0.2	$ 0.1
Number Of Potentially Responsible Parties				100
Insurance Recoveries	$ 2.6
Letters of Credit Outstanding, Amount				$ 2.1

Note 7 - Segment Information (D

Note 7 - Segment Information (Details Textual) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Water Transmission Group [Member]
Goodwill, Impairment Loss		$ 5,300
Number of Reportable Segments				2
Goodwill, Impairment Loss				$ 5,282

Note 7 - Segment Information Re

Note 7 - Segment Information Report of Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014
Water Transmission Group [Member]
Net sales:
Net Sales	$ 39,792	$ 76,857	$ 134,479		$ 182,061
Gross profit (loss):
Gross profit (loss)	(725)	16,559	8,049		29,718
Operating income (loss):
Operating Income (loss)	(2,384)	14,429	(2,566)	[1]	23,673
Tubular Products [Member]
Net sales:
Net Sales	12,543	39,648	56,567		119,079
Gross profit (loss):
Gross profit (loss)	(1,786)	(739)	(9,262)		1,733
Operating income (loss):
Operating Income (loss)	(2,298)	(1,155)	(11,169)		550
Corporate Segment [Member]
Operating income (loss):
Operating Income (loss)	(2,602)	(3,943)	(9,959)		(10,619)
Net Sales	52,335	116,505	191,046		301,140
Gross profit (loss)	(2,511)	15,820	(1,213)		31,451
Operating Income (loss)	$ (7,284)	$ 9,331	$ (23,694)		$ 13,604
[1]	Operating loss for the Water Transmission Group for the nine months ended September 30, 2015 includes the write-off of Water Transmission goodwill of $5.3 million in the second quarter of 2015.

Note 8 - Share-based Compensa39

Note 8 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Restricted Stock Units and Performance Stock Awards [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 1.7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 36 days
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number At Target Level Of Performance	113,000
Director [Member]
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued	10,464	9,150
Share Based Compensation Arrangement by Stock Based Payment Award Grant Date Fair Value	$ 21.02	$ 36.07
Number Of Active Stock Incentive Plans	1
Number Of Inactive Stock Option Plans	1
Minimum Performance Awards Issued Multiplier	0.00%
Maximum Performance Awards Issued Multiplier	200.00%

Note 8 - Summary of Share-based

Note 8 - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cost of Sales [Member]
Allocated Share-based Compensation Expense	$ 116	$ 62	$ 296	$ 154
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense	91	820	1,044	1,913
Allocated Share-based Compensation Expense	$ 207	$ 882	$ 1,340	$ 2,067

Note 8 - Summary of Status of C

Note 8 - Summary of Status of Company's Stock Options (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Balance, January 1, 2015 (in shares) | shares	38,000
Balance, January 1, 2015 (in dollars per share)	$ 26.05
Options exercised (in shares) | shares	(2,000)
Options exercised (in dollars per share)	$ 22.07
Options cancelled (in shares) | shares	(4,000)
Options cancelled (in dollars per share)	$ 28.42
Balance, September 30, 2015 (in shares) | shares	32,000
Balance, September 30, 2015 (in dollars per share)	$ 26
Balance, September 30, 2015	3 years 197 days
Exercisable, September 30, 2015 (in shares) | shares	32,000
Exercisable, September 30, 2015 (in dollars per share)	$ 26
Exercisable, September 30, 2015	3 years 197 days

Note 8 - Summary of Status of42

Note 8 - Summary of Status of Company's RSUs and PSAs (Details) - Restricted Stock Units and Performance Stock Awards [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Balance, January 1, 2015 (in shares) | shares	231,215
Balance, January 1, 2015 (in dollars per share)	$ 36.34
RSUs and PSAs vested (in shares) | shares	(49,403)
RSUs and PSAs vested (in dollars per share)	$ 30.01
RSUs and PSAs canceled (in shares) | shares	(50,707)
RSUs and PSAs canceled (in dollars per share)	$ 35.93
Balance, September 30, 2015 (in shares) | shares	131,105
Balance, September 30, 2015 (in dollars per share)	$ 38.88

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Unrecognized Tax Benefits	$ 4.7		$ 4.7		$ 2.3
Effective Income Tax Rate Reconciliation, Percent	79.70%	35.90%	35.50%	35.80%
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 2.5
Deferred Tax Assets, Valuation Allowance	$ 1.9		$ 1.9

Note 10 - Income (loss) per S44

Note 10 - Income (loss) per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	163,000	65,000	185,000	65,000

Note 10 - Loss per Basic and Di

Note 10 - Loss per Basic and Diluted Weighted Average Common Share Outstanding for Continuing and Discontinued Operations (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income (loss) from continuing operations		$ (1,515)	$ 5,858	$ (15,695)	$ 7,829
Loss on discontinued operations			(837)		(11,720)
Net income (loss)		$ (1,515)	$ 5,021	$ (15,695)	$ (3,891)
Basic weighted-average common shares outstanding (in shares)		9,565	9,519	9,558	9,513
Effect of potentially dilutive common shares (1) (in shares)	[1]		97		82
Diluted (in shares)		9,565	9,616	9,558	9,595
Basic income (loss) per share
Continuing operations (in dollars per share)		$ (0.16)	$ 0.62	$ (1.64)	$ 0.82
Discontinued operations (in dollars per share)			(0.09)		(1.23)
Total (in dollars per share)		$ (0.16)	0.53	$ (1.64)	(0.41)
Diluted income (loss) per share
Continuing operations (in dollars per share)		$ (0.16)	0.61	$ (1.64)	0.82
Discontinued operations (in dollars per share)			(0.09)		(1.23)
Total (in dollars per share)		$ (0.16)	$ 0.52	$ (1.64)	$ (0.41)
[1]	Represents the effect of the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards, based on the treasury stock method.

Note 11 - Components of Accumul

Note 11 - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Pension Items [Member]
Balance			$ (1,862)	$ (1,275)
Other comprehensive income (loss) before reclassifications			167	107
Amounts reclassified from accumulated other comprehensive income (loss)			160	84
Net current period other comprehensive income (loss)			327	191
Balance	$ (1,535)	$ (1,084)	(1,535)	(1,084)
Gains (Losses) on Cash Flow Hedges [Member]
Balance			29	14
Other comprehensive income (loss) before reclassifications			76	1
Amounts reclassified from accumulated other comprehensive income (loss)			(92)	$ (1)
Net current period other comprehensive income (loss)			(16)
Balance	13	14	13	$ 14
Balance			(1,833)	(1,261)
Other comprehensive income (loss) before reclassifications			243	108
Amounts reclassified from accumulated other comprehensive income (loss)			68	83
Net current period other comprehensive income (loss)	124	108	311	191
Balance	$ (1,522)	$ (1,070)	$ (1,522)	$ (1,070)

Note 11 - Reclassifications of

Note 11 - Reclassifications of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Periodic Pension Costs [Member] | Defined Benefit Pension Items [Member]
Net periodic pension cost	$ (255)	$ (130)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Associated Tax Expense Benefit [Member] | Defined Benefit Pension Items [Member]
Associated tax benefit (expense)	95	46
Reclassification out of Accumulated Other Comprehensive Income [Member] | Associated Tax Expense Benefit [Member] | Gains (Losses) on Cash Flow Hedges [Member]
Associated tax benefit (expense)	(55)	(1)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gain on Cash Flow Derivative [Member] | Gains (Losses) on Cash Flow Hedges [Member]
Net sales	148	4
Reclassification out of Accumulated Other Comprehensive Income [Member] | Hedge Ineffectiveness [Member] | Gains (Losses) on Cash Flow Hedges [Member]
Net sales	(1)	(2)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Pension Items [Member]
Net income (loss)	(160)	(84)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains (Losses) on Cash Flow Hedges [Member]
Net income (loss)	92	1
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net income (loss)	(68)	(83)
Net periodic pension cost	(192,259)	(269,689)
Associated tax benefit (expense)	8,642	(4,364)
Net income (loss)	(15,695)	(3,891)
Net sales	$ 191,046	$ 301,140

Note 13 - Restructuring (Detail

Note 13 - Restructuring (Details Textual) $ in Millions	3 Months Ended
	Jun. 30, 2015USD ($)
Restructuring Charges	$ 0.5

Note 14 - Goodwill (Details Tex

Note 14 - Goodwill (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Water Transmission Group [Member]
Goodwill		$ 5,300
Goodwill		$ 5,282

Note 15 - Related Party Trans50

Note 15 - Related Party Transaction (Details Textual) - Eagle Asset Management [Member]	9 Months Ended
	Sep. 30, 2015USD ($)
Related Party Transaction, Amounts of Transaction	$ 17,000
Payment of Related Party Expense	$ 12,000

Note 16 - Subsequent Event (Det

Note 16 - Subsequent Event (Details Textual) - USD ($) $ in Millions	Oct. 26, 2015	Dec. 31, 2015	Sep. 30, 2015
Subsequent Event [Member] | Maximum [Member] | Prime Rate [Member] | 2015 Credit Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Subsequent Event [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | 2015 Credit Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Subsequent Event [Member] | Minimum [Member] | Prime Rate [Member] | 2015 Credit Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Subsequent Event [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | 2015 Credit Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Subsequent Event [Member] | 2015 Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 60
Subsequent Event [Member]
Letters of Credit Outstanding, Amount	$ 2.1
2015 Credit Agreement [Member] | Scenario, Forecast [Member]
Interest Expense, Debt		$ 0.4
Letters of Credit Outstanding, Amount			$ 2.1