Northwest Pipe (NWPX) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
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)		9,573,371
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 9,402	$ 10,309
Trade and other receivables, less allowance for doubtful accounts of $743 and $751	21,969	27,567
Costs and estimated earnings in excess of billings on uncompleted contracts	41,409	42,592
Inventories	29,379	29,475
Refundable income taxes	3,441	3,413
Prepaid expenses and other	1,454	1,923
Total current assets	107,054	115,279
Property and equipment, less accumulated depreciation and amortization of $88,613 and $86,451	130,198	131,848
Other assets	11,958	12,253
Total assets	249,210	259,380
Current liabilities:
Current portion of capital lease obligations	366	340
Accounts payable	3,739	4,739
Accrued liabilities	15,488	15,971
Billings in excess of costs and estimated earnings on uncompleted contracts	3,771	520
Total current liabilities	23,364	21,570
Capital lease obligations, less current portion	667	718
Deferred income taxes	5,473	5,124
Pension and other long-term liabilities	12,526	14,408
Total liabilities	$ 42,030	$ 41,820
Commitments and contingencies (Note 5)
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, 9,573,371 and 9,564,752 shares issued and outstanding	$ 96	$ 96
Additional paid-in-capital	117,054	117,819
Retained earnings	91,600	101,183
Accumulated other comprehensive loss	(1,570)	(1,538)
Total stockholders’ equity	207,180	217,560
Total liabilities and stockholders’ equity	$ 249,210	$ 259,380

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 743	$ 751
Accumulated depreciation and amortization	$ 88,613	$ 86,451
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)	9,573,371	9,564,752
Common Stock, Shares Outstanding (in shares)	9,573,371	9,564,752

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net sales	$ 33,928	$ 84,865
Cost of sales	39,365	80,974
Gross profit (loss)	(5,437)	3,891
Selling, general and administrative expense	4,599	6,974
Operating loss	(10,036)	(3,083)
Other income	$ 40	44
Interest income		82
Interest expense	$ (119)	(417)
Loss before income taxes	(10,115)	(3,374)
Income tax benefit	(532)	(1,273)
Net loss	$ (9,583)	$ (2,101)
Basic loss per share (in dollars per share)	$ (1)	$ (0.22)
Diluted loss per share (in dollars per share)	$ (1)	$ (0.22)
Shares used in per share calculations:
Basic (in shares)	9,572	9,553
Diluted weighted-average common shares outstanding (in shares)	9,572	9,553

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net loss	$ (9,583)	$ (2,101)
Other comprehensive income (loss):
Pension liability adjustment, net of tax	100	109
Deferred gain (loss) on cash flow derivatives, net of tax	(132)	(15)
Other comprehensive income (loss)	(32)	94
Comprehensive loss	$ (9,615)	$ (2,007)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (9,583)	$ (2,101)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	2,181	2,630
Amortization of intangible assets	131	149
Provision for doubtful accounts	(8)	(83)
Amortization of debt issuance costs	41	68
Deferred income taxes	(602)	(552)
Stock based compensation expense	178	650
Unrealized (gain) loss on foreign currency forward contracts	415	(91)
Other, net	(10)	45
Changes in operating assets and liabilities:
Trade and other receivables, net	$ 5,606	23,630
Insurance settlements		2,625
Costs and estimated earnings in excess of billings on uncompleted contracts, net	$ 4,434	(8,079)
Inventories	119	11,502
Refundable income taxes	12	774
Prepaid expenses and other assets	273	(603)
Accounts payable	(735)	(5,295)
Accrued and other liabilities	(1,263)	(696)
Net cash provided by operating activities	1,189	24,573
Cash flows from investing activities:
Additions to property and equipment	$ (736)	(3,689)
Other investing activities		161
Net cash used in investing activities	$ (736)	(3,528)
Cash flows from financing activities:
Tax withholdings related to net share settlements of restricted stock and performance stock awards	$ (31)	(423)
Borrowings on line of credit		34,000
Repayments on line of credit		$ (54,765)
Payments of contingent consideration	$ (1,233)
Payments on capital lease obligations	$ (96)	$ (287)
Other financing activities		19
Net cash used in financing activities	$ (1,360)	(21,456)
Change in cash and cash equivalents	(907)	(411)
Cash and cash equivalents, beginning of period	10,309	527
Cash and cash equivalents, end of period	9,402	116
Non-cash investing activity:
Accrued property and equipment purchases	131	$ 479
Capital lease additions	$ 71

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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, 2015 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, 2015 (the “2015 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 2015 Form 10-K. 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 months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the entire fiscal year ending December 31, 2016.

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. Inventories Inventories are stated at the lower of cost or market and consist of the following (in thousands): March 31, 2016 December 31, Current inventories: Raw materials $ 22,370 $ 21,486 Work-in-process 1,686 1,901 Finished goods 2,902 3,641 Supplies 2,421 2,447 29,379 29,475 Non-current inventories: Finished goods 800 823 Total inventories $ 30,179 $ 30,298 Long-term inventories are recorded in other assets.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3 . 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 Description March 31, 2016 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,309 $ 4,998 $ 1,311 $ - Financial liabilities Contingent consideration $ (1,721 ) $ - $ - $ (1,721 ) Derivatives (250 ) - (250 ) - Total liabilities $ (1,971 ) $ - $ (250 ) $ (1,721 ) Balance at Description December 31, 2015 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,357 $ 5,075 $ 1,282 $ - Derivatives 296 - 296 - Total assets $ 6,653 $ 5,075 $ 1,578 $ - Financial liabilities Contingent consideration $ (2,974 ) $ - $ - $ (2,974 ) 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. 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 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	4 . 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 March 31, 2016 and December 31, 2015, all derivative contracts held by the Company were designated as cash flow hedges. As of March 31, 2016 and December 31, 2015, the total notional amount of the derivative contracts designated as cash flow hedges was $6.3 million (CAD$8.2 million) and $6.3 million (CAD$8.7 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 of 12 months or less as of March 31, 2016. For the three months ended March 31, 2016, and March 31, 2015, losses recognized in net sales from derivative contracts not designated as hedging instruments were $212,000 and $18,000, respectively. At March 31, 2016 and March 31, 2015, there were ($78,000) and $21,000, respectively, of unrealized pretax gains (losses) on outstanding derivatives in accumulated other comprehensive loss. Substantially all of the amount in accumulated other comprehensive loss at March 31, 2016 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 10, “Accumulated Other Comprehensive Loss” for additional quantitative information regarding derivative gains and losses.

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	5 . 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). 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 remedial investigation report was finalized in February 2016. The draft feasibility study (“FS”) was submitted by the LWG to the EPA in March 2012. A revised draft FS submitted in 2015 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 revised FS is 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 was conducted in 2002 and 2003 to further characterize the groundwater. In February 2005, the Company entered into a Voluntary Agreement for Remedial Investigation and Source Control Measures (the “Agreement”) with ODEQ. 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. 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, including the request to conduct additional groundwater sampling. The Company provided a Supplemental Groundwater Sampling Work Plan (“proposed Work Plan”) in December 2015. The DEQ and EPA provided comments to the proposed Work Plan in January 2016 and additional requests in February 2016. The Company expects to provide a Final Supplemental Groundwater Sampling Work Plan in the second quarter of 2016. 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 oil country tubular goods (“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 assessment and cleanup will not be covered by insurance. However, any costs incurred will be reimbursed by the purchaser of the OCTG business if the purchaser exercises its option to purchase the property under certain circumstances after the Certificate of Completion is obtained. 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. In February 2016, the Company submitted an application to the City of Houston under the municipal ordinance, and is currently in the process of satisfying the requirements of the City and TCEQ to obtain approval of the application. While the final remediation approach has not yet been determined, the Company has completed an initial assessment and currently estimates that the future costs associated with the VCP will be between $0.2 million and $2.2 million. At March 31, 2016, 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 that completion of the VCP process will occur between the second quarter of 2017 and the first quarter of 2019. 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 $2.0 million at March 31, 2016. The stand-by letters of credit relate to workers’ compensation insurance.

Note 6 - Segment Information

Note 6 - Segment Information	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	6 . 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. Three Months Ended March 31, 2016 2015 (in thousands) Net sales: Water transmission $ 29,358 $ 56,242 Tubular products 4,570 28,623 Total $ 33,928 $ 84,865 Gross profit (loss): Water transmission $ (5,750 ) $ 7,519 Tubular products 313 (3,628 ) Total $ (5,437 ) $ 3,891 Operating income (loss): Water transmission $ (7,256 ) $ 5,633 Tubular products 104 (4,617 ) Corporate (2,884 ) (4,099 ) Total $ (10,036 ) $ (3,083 )

Note 7 - Share-based Compensati

Note 7 - Share-based Compensation	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	7 . 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 March 31, 2016 2015 Cost of sales $ (28 ) $ 81 Selling, general and administrative expenses 206 569 Total $ 178 $ 650 As of March 31, 2016, unrecognized compensation expense related to the unvested portion of the Company’s RSUs and PSAs was $.8 million, which is expected to be recognized over a weighted average period of .8 years. Stock Option Awards A summary of the status of the Company’s stock options as of March 31, 2016 and changes during the three 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, 2016 28,000 $ 25.21 Options granted - - Options exercised - - Options cancelled - - Balance, March 31, 2016 28,000 25.21 3.52 $ - Exercisable, March 31, 2016 28,000 25.21 3.52 $ - Restricted Stock Units and Performance Stock Awards A summary of the status of the Company’s RSUs and PSAs as of March 31, 2016 and changes during the three months then ended is presented below: Number of RSUs and PSAs Weighted Average Grant Date Fair Value Balance, January 1, 2016 127,852 $ 38.87 RSUs and PSAs granted - - RSUs and PSAs vested (12,212 ) 31.50 RSUs and PSAs canceled (63,126 ) 36.93 Balance, March 31, 2016 52,514 42.91 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 March 31, 2016 includes approximately 47,000 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%.

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 . 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 2012. 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 $4.9 million of unrecognized tax benefits at March 31, 2016 and December 31, 2015, respectively. The Company does not believe it is reasonably possible that the total amounts of unrecognized tax benefits will change in the following twelve months; 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 recorded an income tax benefit at an estimated effective tax rate of 5.3% and 37.7% for the three months ended March 31, 2016, and March 31, 2015, respectively. The estimated effective tax rate for the three months ended March 31, 2016 is significantly lower than statutory rates because the Company’s net operating losses from the period are subject to a valuation allowance.

Note 9 - Loss per Share

Note 9 - Loss per Share	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Loss per Share Loss per basic and diluted weighted average common share outstanding were calculated as follows for the three months ended March 31, 2016 and 2015 (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Net loss $ (9,583 ) $ (2,101 ) Basic weighted-average common shares outstanding 9,572 9,553 Effect of potentially dilutive common shares - - Diluted weighted-average common shares outstanding 9,572 9,553 Loss per common share: Loss per basic common share $ (1.00 ) $ (0.22 ) Loss per diluted common share (1.00 ) (0.22 ) Due to the Company’s net loss in the three month periods ended March 31, 2016 and 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 94,000 and 204,000 for the three month periods ended March 31, 2016 and 2015, respectively.

Note 10 - Accumulated Other Com

Note 10 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	1 0 . Accumulated Other Comprehensive Loss The following tables summarize changes in the components of accumulated other comprehensive loss during the three months ended March 31, 2016 and March 31, 2015 (in thousands). All amounts are net of tax: Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2015 $ (1,624 ) $ 86 $ (1,538 ) Other comprehensive income (loss) before reclassifications 33 (86 ) (53 ) Amounts reclassified from accumulated other comprehensive income (loss) 67 (46 ) 21 Net current period other comprehensive income (loss) 100 (132 ) (32 ) Balance, March 31, 2016 $ (1,524 ) $ (46 ) $ (1,570 ) Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2014 $ (1,862 ) $ 29 $ (1,833 ) Other comprehensive income before reclassifications 56 61 117 Amounts reclassified from accumulated other comprehensive income (loss) 53 (76 ) (23 ) Net current period other comprehensive income (loss) 109 (15 ) 94 Balance, March 31, 2015 $ (1,753 ) $ 14 $ (1,739 ) 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 three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from Accumulated Other Comprehensive Income (Loss) Pension liability adjustment Net periodic pension cost $ (71 ) $ (85 ) Associated tax benefit 4 32 $ (67 ) $ (53 ) Deferred gain on cash flow derivatives Gain on cash flow derivatives $ 74 $ 122 Hedge ineffectiveness - (1 ) Associated tax expense (28 ) (45 ) $ 46 $ 76 Total reclassifications for the period $ (21 ) $ 23

Note 11 - Recent Accounting and

Note 11 - Recent Accounting and Reporting Developments	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	1 1 . Recent Accounting and Reporting Developments There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company’s consolidated financial statements and footnote disclosures, from those disclosed in the Company’s 2015 Annual Report on Form 10-K, except for the following: In March 2016, the FASB issued Accounting Standards Update No. 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”). Among other things, the amendments in ASU 2016-07 eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Early adoption is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”). ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations contained in Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers”. The guidance in ASU 2016-08 includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The Company is currently assessing the impact of this ASU on its consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718) (“ASU 2016-09”). ASU 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Company is currently assessing the impact of this ASU on its consolidated financial statements.

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule Of Inventory Current And Non Current [Table Text Block]	March 31, 2016 December 31, Current inventories: Raw materials $ 22,370 $ 21,486 Work-in-process 1,686 1,901 Finished goods 2,902 3,641 Supplies 2,421 2,447 29,379 29,475 Non-current inventories: Finished goods 800 823 Total inventories $ 30,179 $ 30,298

Note 3 - Fair Value Measureme19

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Balance at Description March 31, 2016 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,309 $ 4,998 $ 1,311 $ - Financial liabilities Contingent consideration $ (1,721 ) $ - $ - $ (1,721 ) Derivatives (250 ) - (250 ) - Total liabilities $ (1,971 ) $ - $ (250 ) $ (1,721 ) Balance at Description December 31, 2015 Level 1 Level 2 Level 3 Financial assets Deferred compensation plan $ 6,357 $ 5,075 $ 1,282 $ - Derivatives 296 - 296 - Total assets $ 6,653 $ 5,075 $ 1,578 $ - Financial liabilities Contingent consideration $ (2,974 ) $ - $ - $ (2,974 )

Note 6 - Segment Information (T

Note 6 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule Of Segment Reporting Information By Segment Statement Of Operations [Table Text Block]	Three Months Ended March 31, 2016 2015 (in thousands) Net sales: Water transmission $ 29,358 $ 56,242 Tubular products 4,570 28,623 Total $ 33,928 $ 84,865 Gross profit (loss): Water transmission $ (5,750 ) $ 7,519 Tubular products 313 (3,628 ) Total $ (5,437 ) $ 3,891 Operating income (loss): Water transmission $ (7,256 ) $ 5,633 Tubular products 104 (4,617 ) Corporate (2,884 ) (4,099 ) Total $ (10,036 ) $ (3,083 )

Note 7 - Share-based Compensa21

Note 7 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended March 31, 2016 2015 Cost of sales $ (28 ) $ 81 Selling, general and administrative expenses 206 569 Total $ 178 $ 650
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, 2016 28,000 $ 25.21 Options granted - - Options exercised - - Options cancelled - - Balance, March 31, 2016 28,000 25.21 3.52 $ - Exercisable, March 31, 2016 28,000 25.21 3.52 $ -
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, 2016 127,852 $ 38.87 RSUs and PSAs granted - - RSUs and PSAs vested (12,212 ) 31.50 RSUs and PSAs canceled (63,126 ) 36.93 Balance, March 31, 2016 52,514 42.91

Note 9 - Loss per Share (Tables

Note 9 - Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2016 2015 Net loss $ (9,583 ) $ (2,101 ) Basic weighted-average common shares outstanding 9,572 9,553 Effect of potentially dilutive common shares - - Diluted weighted-average common shares outstanding 9,572 9,553 Loss per common share: Loss per basic common share $ (1.00 ) $ (0.22 ) Loss per diluted common share (1.00 ) (0.22 )

Note 10 - Accumulated Other C23

Note 10 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Changes in Accumulated Other Comprehensive Income Loss [Table Text Block]	Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2015 $ (1,624 ) $ 86 $ (1,538 ) Other comprehensive income (loss) before reclassifications 33 (86 ) (53 ) Amounts reclassified from accumulated other comprehensive income (loss) 67 (46 ) 21 Net current period other comprehensive income (loss) 100 (132 ) (32 ) Balance, March 31, 2016 $ (1,524 ) $ (46 ) $ (1,570 ) Defined Benefit Pension Items Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2014 $ (1,862 ) $ 29 $ (1,833 ) Other comprehensive income before reclassifications 56 61 117 Amounts reclassified from accumulated other comprehensive income (loss) 53 (76 ) (23 ) Net current period other comprehensive income (loss) 109 (15 ) 94 Balance, March 31, 2015 $ (1,753 ) $ 14 $ (1,739 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Three Months Ended March 31, 2016 2015 Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from Accumulated Other Comprehensive Income (Loss) Pension liability adjustment Net periodic pension cost $ (71 ) $ (85 ) Associated tax benefit 4 32 $ (67 ) $ (53 ) Deferred gain on cash flow derivatives Gain on cash flow derivatives $ 74 $ 122 Hedge ineffectiveness - (1 ) Associated tax expense (28 ) (45 ) $ 46 $ 76 Total reclassifications for the period $ (21 ) $ 23

Note 2 - Components of Inventor

Note 2 - Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Raw materials	$ 22,370	$ 21,486
Work-in-process	1,686	1,901
Finished goods	2,902	3,641
Supplies	2,421	2,447
Inventory, Net	29,379	29,475
Finished goods	800	823
Total inventories	$ 30,179	$ 30,298

Note 3 - Assets and Liabilities

Note 3 - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 1 [Member]
Financial assets
Deferred compensation plan	$ 4,998	$ 5,075
Derivative assets
Total assets		$ 5,075
Financial liabilities
Contingent consideration
Derivative liabilities
Total liabilities
Fair Value, Inputs, Level 2 [Member]
Financial assets
Deferred compensation plan	$ 1,311	$ 1,282
Derivative assets		296
Total assets		$ 1,578
Financial liabilities
Contingent consideration
Derivative liabilities	$ (250)
Total liabilities	$ (250)
Fair Value, Inputs, Level 3 [Member]
Financial assets
Deferred compensation plan
Derivative assets
Total assets
Financial liabilities
Contingent consideration	$ (1,721)	$ (2,974)
Derivative liabilities
Total liabilities	$ (1,721)
Deferred compensation plan	6,309	6,357
Derivative assets		296
Total assets		6,653
Contingent consideration	(1,721)	$ (2,974)
Derivative liabilities	(250)
Total liabilities	$ (1,971)

Note 4 - Derivative Instrumen26

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) CAD in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016CAD	Mar. 31, 2016USD ($)	Dec. 31, 2015CAD	Dec. 31, 2015USD ($)
Designated as Hedging Instrument [Member]
Derivative, Notional Amount			CAD 8.2	$ 6,300,000	CAD 8.7	$ 6,300,000
Maximum [Member]
Maturity Period For Forward Contracts	1 year
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 212,000	$ 18,000
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months		$ 21,000		$ (78,000)

Note 5 - Commitments and Cont27

Note 5 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended		3 Months Ended
	Jan. 31, 2015USD ($)	Jul. 31, 2014USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2014USD ($)
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			2.2
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
Number Of Potentially Responsible Parties			100
Insurance Recoveries	$ 2.6
Letters of Credit Outstanding, Amount			$ 2

Note 6 - Segment Information (D

Note 6 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2016
Number of Reportable Segments	2

Note 6 - Segment Information Re

Note 6 - Segment Information Report of Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Water Transmission Group [Member] | Operating Segments [Member]
Net sales:
Net Sales	$ 29,358	$ 56,242
Gross profit (loss):
Gross profit (loss)	(5,750)	7,519
Operating income (loss):
Operating Income (loss)	(7,256)	5,633
Tubular Products [Member] | Operating Segments [Member]
Net sales:
Net Sales	4,570	28,623
Gross profit (loss):
Gross profit (loss)	313	(3,628)
Operating income (loss):
Operating Income (loss)	104	(4,617)
Corporate Segment [Member]
Operating income (loss):
Operating Income (loss)	(2,884)	(4,099)
Net Sales	33,928	84,865
Gross profit (loss)	(5,437)	3,891
Operating Income (loss)	$ (10,036)	$ (3,083)

Note 7 - Share-based Compensa30

Note 7 - Share-based Compensation (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)shares
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 | $	$ 0.8
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	292 days
Restricted Stock Units (RSUs) [Member] | Minimum [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, Award Vesting Period	3 years
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number At Target Level Of Performance | shares	47,000
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 7 - Summary of Share-based

Note 7 - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cost of Sales [Member]
Allocated Share-based Compensation Expense	$ (28)
Allocated Share-based Compensation Expense		$ 81
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense	206	569
Allocated Share-based Compensation Expense	$ 178	$ 650

Note 7 - Summary of Status of C

Note 7 - Summary of Status of Company's Stock Options (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Balance (in shares) | shares	28,000
Balance (in dollars per share) | $ / shares	$ 25.21
Balance (in shares) | shares	28,000
Balance (in dollars per share) | $ / shares	$ 25.21
Balance	3 years 189 days
Exercisable, March 31, 2016 (in shares) | shares	28,000
Exercisable, March 31, 2016 (in dollars per share) | $ / shares	$ 25.21
Exercisable, March 31, 2016	3 years 189 days

Note 7 - Summary of Status of33

Note 7 - Summary of Status of Company's RSUs and PSAs (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Restricted Stock Units and Performance Stock Awards [Member]
RSUs and PSAs vested (in shares) | shares	(12,212)	[1]
RSUs and PSAs vested (in dollars per share) | $ / shares	$ 31.50
Balance, January 1, 2016 (in shares) | shares	127,852
Balance, January 1, 2016 (in dollars per share) | $ / shares	$ 38.87
RSUs and PSAs canceled (in shares) | shares	(63,126)
RSUs and PSAs canceled (in dollars per share) | $ / shares	$ 36.93
Balance, March 31, 2016 (in shares) | shares	52,514
Balance, March 31, 2016 (in dollars per share) | $ / shares	$ 42.91
[1]	The number of shares disclosed in this table are at the target level of 100%.

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
State and Local Jurisdiction [Member] | Colorado Department of Revenue Taxation Division [Member] | Earliest Tax Year [Member]
Income Tax Examination, Year under Examination			2,009
State and Local Jurisdiction [Member] | Colorado Department of Revenue Taxation Division [Member] | Latest Tax Year [Member]
Income Tax Examination, Year under Examination			2,013
Unrecognized Tax Benefits	$ 4.9		$ 4.9
Effective Income Tax Rate Reconciliation, Percent	5.30%	37.70%

Note 9 - Loss per Share (Detail

Note 9 - Loss per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	94,000	204,000

Note 9 - Loss per Basic and Dil

Note 9 - Loss per Basic and Diluted Weighted Average Common Share Outstanding for Continuing and Discontinued Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net loss	$ (9,583)	$ (2,101)
Basic weighted-average common shares outstanding (in shares)	9,572	9,553
Effect of potentially dilutive common shares (in shares)
Diluted weighted-average common shares outstanding (in shares)	9,572	9,553
Loss per common share:
Loss per basic common share (in dollars per share)	$ (1)	$ (0.22)
Loss per diluted common share (in dollars per share)	$ (1)	$ (0.22)

Note 10 - Components of Accumul

Note 10 - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Pension Items [Member]
Balance	$ (1,624)	$ (1,862)
Other comprehensive income (loss) before reclassifications	33	56
Amounts reclassified from accumulated other comprehensive income (loss)	67	53
Net current period other comprehensive income (loss)	100	109
Balance	(1,524)	(1,753)
Gains (Losses) on Cash Flow Hedges [Member]
Balance	86	29
Other comprehensive income (loss) before reclassifications	(86)	61
Amounts reclassified from accumulated other comprehensive income (loss)	(46)	(76)
Net current period other comprehensive income (loss)	(132)	(15)
Balance	(46)	14
Balance	(1,538)	(1,833)
Other comprehensive income (loss) before reclassifications	(53)	117
Amounts reclassified from accumulated other comprehensive income (loss)	21	(23)
Net current period other comprehensive income (loss)	(32)	94
Balance	$ (1,570)	$ (1,739)

Note 10 - Schedule of Reclassif

Note 10 - Schedule of Reclassifications of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Cost of sales	$ (71)	$ (85)
Tax (expense) benefit	4	32
Net loss	(67)	(53)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Tax (expense) benefit	(28)	(45)
Net loss	46	76
Net sales	$ 74	122
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Hedge Ineffectiveness [Member]
Net sales		(1)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net loss	$ (21)	23
Cost of sales	(39,365)	(80,974)
Net loss	(9,583)	(2,101)
Net sales	$ 33,928	$ 84,865