Northwest Pipe (NWPX) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document Information [Line Items]
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)		9,604,811
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 29,666	$ 33,928
Cost of sales	28,886	39,365
Gross profit (loss)	780	(5,437)
Selling, general and administrative expense	3,840	4,599
Restructuring expense	881
Operating loss	(3,941)	(10,036)
Other income (expense)	(11)	40
Interest expense	(137)	(119)
Loss before income taxes	(4,089)	(10,115)
Income tax benefit	(221)	(532)
Net loss	$ (3,868)	$ (9,583)
Basic and diluted loss per share (in dollars per share)	$ (0.40)	$ (1)
Shares used in per share calculations:
Basic and diluted (in shares)	9,604	9,572

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net loss	$ (3,868)	$ (9,583)
Other comprehensive income (loss), net of tax:
Pension liability adjustment	102	100
Unrealized loss on cash flow hedges	(7)	(132)
Other comprehensive income (loss), net of tax	95	(32)
Comprehensive loss	$ (3,773)	$ (9,615)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 20,807	$ 21,829
Trade and other receivables, less allowance for doubtful accounts of $496 and $515	18,616	25,555
Costs and estimated earnings in excess of billings on uncompleted contracts	45,063	43,663
Inventories	16,954	19,037
Prepaid expenses and other	1,772	2,096
Total current assets	103,212	112,180
Property and equipment, less accumulated depreciation and amortization of $87,024 and $85,604	116,848	118,101
Other assets	11,054	11,274
Total assets	231,114	241,555
Current liabilities:
Accounts payable	3,627	5,267
Accrued liabilities	7,140	10,925
Billings in excess of costs and estimated earnings on uncompleted contracts	940	2,038
Current portion of capital lease obligations	288	325
Total current liabilities	11,995	18,555
Capital lease obligations, less current portion	539	602
Deferred income taxes	1,044	1,282
Other long-term liabilities	11,849	11,903
Total liabilities	25,427	32,342
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, 9,604,811 and 9,601,011 shares issued and outstanding	96	96
Additional paid-in-capital	118,927	118,680
Retained earnings	88,052	91,920
Accumulated other comprehensive loss	(1,388)	(1,483)
Total stockholders’ equity	205,687	209,213
Total liabilities and stockholders’ equity	$ 231,114	$ 241,555

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 496	$ 515
Accumulated depreciation and amortization	$ 87,024	$ 85,604
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)	9,604,811	9,601,011
Common stock, shares outstanding (in shares)	9,604,811	9,601,011

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (3,868)	$ (9,583)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and capital lease amortization	1,850	2,181
Amortization of intangible assets	128	131
Amortization of debt issuance costs	42	41
Provision for doubtful accounts	261	(8)
Deferred income taxes	(238)	(602)
(Gain) Loss on disposal of property and equpiment	(19)	10
Share-based compensation expense	271	178
Adjustments to contingent consideration	27	(20)
Unrealized loss on foreign currency forward contracts	30	415
Changes in operating assets and liabilities:
Trade and other receivables	6,678	5,606
Costs and estimated earnings in excess of billings on uncompleted contracts, net	(2,498)	4,434
Inventories	2,038	119
Prepaid expenses and other assets	387	285
Accounts payable	(1,714)	(735)
Accrued and other liabilities	(3,657)	(1,263)
Net cash provided by (used in) operating activities	(282)	1,189
Cash flows from investing activities:
Additions to property and equipment	(529)	(736)
Proceeds from sale of property and equipment	25
Net cash used in investing activities	(504)	(736)
Cash flows from financing activities:
Tax withholdings related to net share settlements of restricted stock and performance share awards	(24)	(31)
Payments on capital lease obligations	(100)	(96)
Payments of contingent consideration	(112)	(1,233)
Net cash used in financing activities	(236)	(1,360)
Change in cash and cash equivalents	(1,022)	(907)
Cash and cash equivalents, beginning of period	21,829	10,309
Cash and cash equivalents, end of period	20,807	9,402
Noncash investing and financing activities:
Accrued property and equipment purchases	133	131
Capital lease additions		$ 71

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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, 2016 10 December 31, 2016 “2016 10 2016 10 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 March 31, 2017 may December 31, 2017.

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. Inventories Inventories consist of the following (in thousands): March 31, 2017 December 31, 2016 Short-term inventories: Raw materials $ 13,117 $ 15,411 Work-in-process 1,209 1,235 Finished goods 323 40 Supplies 2,305 2,351 Total short-term inventories 16,954 19,037 Long-term inventories: Finished goods 729 773 Total inventories $ 17,683 $ 19,810 Long-term inventories are recorded in Other assets. As of December 31, 2016, 2015 11, 330): January 1, 2017, 11,

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
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 1 2 3 The following table summarizes information regarding the Company’s financial assets and liabilities that are measured at fair value (in thousands): Total Level 1 Level 2 Level 3 As of March 31, 2017 Financial assets: Deferred compensation plan $ 6,202 $ 5,317 $ 885 $ - Derivatives 26 - 26 - Total assets $ 6,228 $ 5,317 $ 911 $ - Financial liabilities: Derivatives $ (14 ) $ - $ (14 ) $ - As of December 31, 2016 Financial assets: Deferred compensation plan $ 6,209 $ 5,215 $ 994 $ - Derivatives 58 - 58 - Total assets $ 6,267 $ 5,215 $ 1,052 $ - Financial liabilities: Derivatives $ (8 ) $ - $ (8 ) $ - 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 2 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 The net carrying amounts of cash and cash equivalents, trade and other receivables, accounts payable, accrued liabilities and borrowings on the 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, 2017
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 earnings. As of March 31, 2017 December 31, 2016, $0.9 (CAD $1.3 March 31, 2017 December 31, 2016, $1.7 (CAD$2.2 $3.4 (CAD$4.5 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 Unrealized loss on cash flow hedges on the Condensed Consolidated Statements of Comprehensive Loss. 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 less than twelve March 31, 2017. For the three March 31, 2017 2016, $0 $(0.2) March 31, 2017, $0. twelve 8,

Note 5 - Share-based Compensati

Note 5 - Share-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5 . Share-based Compensation The Company has one 2007 one 1995 The Company recognizes share-based compensation cost, based on grant date estimated fair value of the awards, over the period during which the employee or director is required to provide service in exchange for the award, and as forfeitures occur, the associated compensation cost recognized to date is reversed. The following table summarizes share-based compensation expense recorded (in thousands): Three Months Ended March 31, 2017 2016 Cost of sales $ 81 $ (28 ) Selling, general and administrative expense 190 206 Total $ 271 $ 178 As of March 31, 2017, $0.7 0.8 Stock Option Awards A summary of option activity under the Company’s stock option plans as of March 31, 2017 three Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in years) (In thousands) Balance, December 31, 2016 26,000 $ 24.97 Options granted - - Options exercised - - Options canceled - - Balance, March 31, 2017 26,000 24.97 Exercisable, March 31, 2017 26,000 24.97 2.78 $ - Restricted Stock Units and Performance Share Awards A summary of activity under the Company’s RSUs and PSAs as of March 31, 2017 three Number of RSUs and PSAs Weighted Average Grant Date Fair Value Unvested RSUs and PSAs as of December 31, 2016 221,791 $ 17.36 RSUs and PSAs granted - - Unvested RSUs and PSAs canceled (46,988 ) 43.68 RSUs vested (5,220 ) 36.00 Unvested RSUs as of March 31, 2017 169,583 9.50 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 three three March 31, 2017, 0%.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6. Commitments and Contingencies Portland Harbor Superfund On December 1, 2000, 2008, 104 14 February 2016. June 2016 January 2017 $1.05 13 In 2001, one 2002 2003 February 2005, 2016 third 2016, September 2016 2016, third 2017, 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. three one June 2014, $0.4 $0.2 July 2014 January 2015. January 2017, 2009, The Company’s potential liability is a portion of the costs of the remedy for the entire Portland Harbor Superfund Site. The cost of that remedy is expected to be allocated among more than 100 may In December 2014, two $2.6 January 2015 2014. 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, June 2014, The Company has completed a groundwater assessment and continues to monitor groundwater. The proposed remediation approach includes a municipal setting designation ordinance, approved by the City of Houston City Council in January 2017, In late October 2016, December 2016 second 2017. $0.1 $1.6 March 31, 2017, $0.2 third 2017 third 2019. All Sites The Company operates its facilities under numerous governmental permits and licenses relating to air emissions, stormwater runoff 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. Other Contingencies and Legal Proceedings 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, the Company records accruals when such losses are considered probable and reasonably estimable. The Company believes that it is not presently a party to 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 letters of credit that total $2.0 March 31, 2017.

Note 7 - Income Taxes

Note 7 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7 . 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. 2012. The Company recorded an income tax benefit at an estimated effective income tax rate of 5.4% 5.3% three March 31, 2017 2016, three March 31, 2017 11, $0.8 three March 31, 2017. The Company had $4.9 March 31, 2017 December 31, 2016. twelve

Note 8 - Accumulated Other Comp

Note 8 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	8 . Accumulated Other Comprehensive Loss The following tables summarize changes in the components of Accumulated other comprehensive loss during the three March 31, 2017 2016 Pension Liability Adjustment Unrealized Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2016 $ (1,493 ) $ 10 $ (1,483 ) Other comprehensive income (loss) before reclassifications 25 (12 ) 13 Amounts reclassified from Accumulated other comprehensive loss 77 5 82 Net current period adjustments to Other comprehensive income (loss) 102 (7 ) 95 Balance, March 31, 2017 $ (1,391 ) $ 3 $ (1,388 ) Pension Liability Adjustment Unrealized 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 loss 67 (46 ) 21 Net current period adjustments to Other comprehensive income (loss) 100 (132 ) (32 ) Balance, March 31, 2016 $ (1,524 ) $ (46 ) $ (1,570 ) The following table provides additional detail about Accumulated other comprehensive loss components that were reclassified to the Condensed Consolidated Statements of Operations during the three March 31, 2017 2016 Three Months Ended March 31, 2017 2016 Details about Accumulated Other Comprehensive Loss Components Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Condensed Consolidated Statements of Operations Pension liability adjustment: Net periodic pension cost $ (81 ) $ (71 ) Cost of sales Associated income tax benefit 4 4 Income tax benefit (77 ) (67 ) Net of tax Unrealized gain (loss) on cash flow hedges: Gain (loss) on cash flow hedges (8 ) 74 Net sales Associated income tax (expense) benefit 3 (28 ) Income tax benefit (5 ) 46 Net of tax Total reclassifications for the period $ (82 ) $ (21 )

Note 9 - Loss Per Share

Note 9 - Loss Per Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Loss per Share Loss per basic and diluted weighted average common share outstanding was calculated as follows for the three March 31, 2017 2016 Three Months Ended March 31, 2017 2016 Net loss $ (3,868 ) $ (9,583 ) Basic weighted-average common shares outstanding 9,604 9,572 Effect of potentially dilutive common shares (1) - - Diluted weighted-average common shares outstanding 9,604 9,572 Loss per basic and diluted common share $ (0.40 ) $ (1.00 ) (1) Due to the Company’s net loss in the three March 31, 2017 2016, 196,000 94,000 three March 31, 2017 2016,

Note 10 - Segment Information

Note 10 - Segment Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10 . Segment Information The operating segments reported below are based on the nature of the products sold and the manufacturing process used by the Company and are the segments of the Company for which separate financial information is available and for which operating results are regularly evaluated by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. Management evaluates segment performance based on operating income. The Company’s Water Transmission segment 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 segment makes products for industrial plant piping systems and certain structural applications. The Company’s Tubular Products segment manufactures and markets smaller diameter, electric resistance welded steel pipe used in a wide range of applications, including energy, construction, agricultural and industrial systems. The Company’s Tubular Products segment has a manufacturing facility located in Atchison, Kansas and real property located in Houston, Texas. The Atchison facility operated at reduced levels from April 2015 January 2016, Three Months Ended March 31, 2017 2016 (in thousands) Net sales: Water Transmission $ 29,657 $ 29,358 Tubular Products 9 4,570 Total $ 29,666 $ 33,928 Gross profit (loss): Water Transmission $ 1,165 $ (5,750 ) Tubular Products (385 ) 313 Total $ 780 $ (5,437 ) Operating income (loss): Water Transmission $ (914 ) $ (7,256 ) Tubular Products (430 ) 104 Corporate (2,597 ) (2,884 ) Total $ (3,941 ) $ (10,036 )

Note 11 - Recent Accounting and

Note 11 - Recent Accounting and Reporting Developments	3 Months Ended
	Mar. 31, 2017
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 Condensed Consolidated Financial Statements and disclosures in Notes to Condensed Consolidated Financial Statements, from those disclosed in the Company’s 2016 10 Accounting Changes In July 2015, 2015 11, 330): 2015 11”). 2015 11, first 2015 11. January 1, 2017 In March 2016, 2016 09, 718): 2016 09”). 2016 09 January 1, 2017, $0.8 three March 31, 2017. Recent Accounting Standards In May 2014, 2014 09, 606)” 2014 09”) 2014 09 2014 09 2014 09 January 1, 2018, 2018, 2016 2017, 2014 09 The Company is currently evaluating the impact of this revenue recognition guidance on its consolidated financial statements, including which of the alternative application approaches available under the standard will be utilized for its adoption. To date, the Company has examined its revenue streams, and does not believe that the adoption of ASU 2014 09 2014 09 2014 09’s In February 2016, 2016 02, 842)” 2016 02”). 2016 02 twelve 2016 02 January 1, 2019, 2019. 2016 02 In March 2017, 2017 07, 715): 2017 07”), 2017 07 one 2017 07 2017 07 January 1, 2018, 2018. 2017 07

Note 12 - Restructuring

Note 12 - Restructuring	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	1 2 . Restructuring In October 2016, March 1, 2017 $0.9 three March 31, 2017 first 2017.

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule Of Inventory Current And Non Current [Table Text Block]	March 31, 2017 December 31, 2016 Short-term inventories: Raw materials $ 13,117 $ 15,411 Work-in-process 1,209 1,235 Finished goods 323 40 Supplies 2,305 2,351 Total short-term inventories 16,954 19,037 Long-term inventories: Finished goods 729 773 Total inventories $ 17,683 $ 19,810

Note 3 - Fair Value Measureme20

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total Level 1 Level 2 Level 3 As of March 31, 2017 Financial assets: Deferred compensation plan $ 6,202 $ 5,317 $ 885 $ - Derivatives 26 - 26 - Total assets $ 6,228 $ 5,317 $ 911 $ - Financial liabilities: Derivatives $ (14 ) $ - $ (14 ) $ - As of December 31, 2016 Financial assets: Deferred compensation plan $ 6,209 $ 5,215 $ 994 $ - Derivatives 58 - 58 - Total assets $ 6,267 $ 5,215 $ 1,052 $ - Financial liabilities: Derivatives $ (8 ) $ - $ (8 ) $ -

Note 5 - Share-based Compensa21

Note 5 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended March 31, 2017 2016 Cost of sales $ 81 $ (28 ) Selling, general and administrative expense 190 206 Total $ 271 $ 178
Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in years) (In thousands) Balance, December 31, 2016 26,000 $ 24.97 Options granted - - Options exercised - - Options canceled - - Balance, March 31, 2017 26,000 24.97 Exercisable, March 31, 2017 26,000 24.97 2.78 $ -
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]	Number of RSUs and PSAs Weighted Average Grant Date Fair Value Unvested RSUs and PSAs as of December 31, 2016 221,791 $ 17.36 RSUs and PSAs granted - - Unvested RSUs and PSAs canceled (46,988 ) 43.68 RSUs vested (5,220 ) 36.00 Unvested RSUs as of March 31, 2017 169,583 9.50

Note 8 - Accumulated Other Co22

Note 8 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Changes in Accumulated Other Comprehensive Income Loss [Table Text Block]	Pension Liability Adjustment Unrealized Gains (Losses) on Cash Flow Hedges Total Balance, December 31, 2016 $ (1,493 ) $ 10 $ (1,483 ) Other comprehensive income (loss) before reclassifications 25 (12 ) 13 Amounts reclassified from Accumulated other comprehensive loss 77 5 82 Net current period adjustments to Other comprehensive income (loss) 102 (7 ) 95 Balance, March 31, 2017 $ (1,391 ) $ 3 $ (1,388 ) Pension Liability Adjustment Unrealized 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 loss 67 (46 ) 21 Net current period adjustments to Other comprehensive income (loss) 100 (132 ) (32 ) Balance, March 31, 2016 $ (1,524 ) $ (46 ) $ (1,570 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Three Months Ended March 31, 2017 2016 Details about Accumulated Other Comprehensive Loss Components Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Condensed Consolidated Statements of Operations Pension liability adjustment: Net periodic pension cost $ (81 ) $ (71 ) Cost of sales Associated income tax benefit 4 4 Income tax benefit (77 ) (67 ) Net of tax Unrealized gain (loss) on cash flow hedges: Gain (loss) on cash flow hedges (8 ) 74 Net sales Associated income tax (expense) benefit 3 (28 ) Income tax benefit (5 ) 46 Net of tax Total reclassifications for the period $ (82 ) $ (21 )

Note 9 - Loss Per Share (Tables

Note 9 - Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2017 2016 Net loss $ (3,868 ) $ (9,583 ) Basic weighted-average common shares outstanding 9,604 9,572 Effect of potentially dilutive common shares (1) - - Diluted weighted-average common shares outstanding 9,604 9,572 Loss per basic and diluted common share $ (0.40 ) $ (1.00 )

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule Of Segment Reporting Information By Segment Statement Of Operations [Table Text Block]	Three Months Ended March 31, 2017 2016 (in thousands) Net sales: Water Transmission $ 29,657 $ 29,358 Tubular Products 9 4,570 Total $ 29,666 $ 33,928 Gross profit (loss): Water Transmission $ 1,165 $ (5,750 ) Tubular Products (385 ) 313 Total $ 780 $ (5,437 ) Operating income (loss): Water Transmission $ (914 ) $ (7,256 ) Tubular Products (430 ) 104 Corporate (2,597 ) (2,884 ) Total $ (3,941 ) $ (10,036 )

Note 2 - Inventories - Componen

Note 2 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Raw materials	$ 13,117	$ 15,411
Work-in-process	1,209	1,235
Finished goods	323	40
Supplies	2,305	2,351
Total short-term inventories	16,954	19,037
Finished goods	729	773
Total inventories	$ 17,683	$ 19,810

Note 3 - Fair Value Measureme26

Note 3 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Deferred compensation plan	$ 6,202	$ 6,209
Derivatives, assets	26	58
Total assets	6,228	6,267
Derivatives, liabilities	(14)	(8)
Fair Value, Inputs, Level 1 [Member]
Deferred compensation plan	5,317	5,215
Derivatives, assets
Total assets	5,317	5,215
Derivatives, liabilities
Fair Value, Inputs, Level 2 [Member]
Deferred compensation plan	885	994
Derivatives, assets	26	58
Total assets	911	1,052
Derivatives, liabilities	(14)	(8)
Fair Value, Inputs, Level 3 [Member]
Deferred compensation plan
Derivatives, assets
Total assets
Derivatives, liabilities

Note 4 - Derivative Instrumen27

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) CAD in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017CAD	Dec. 31, 2016USD ($)	Dec. 31, 2016CAD
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 0	$ (200,000)
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 0
Maximum [Member]
Maturity Period For Forward Contracts	1 year
Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount	$ 900,000		CAD 1.3	$ 900,000	CAD 1.3
Designated as Hedging Instrument [Member]
Derivative, Notional Amount	$ 1,700,000		CAD 2.2	$ 3,400,000	CAD 4.5

Note 5 - Share-based Compensa28

Note 5 - Share-based Compensation (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Number Of Active Stock Incentive Plans	1
Number Of Inactive Stock Option Plans	1
Minimum Performance Awards Issued Multiplier	0.00%
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	$ 0.7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	292 days
Restricted Stock Units (RSUs) [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

Note 5 - Share-based Compensa29

Note 5 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allocated share-based compensation expense	$ 271	$ 178
Cost of Sales [Member]
Allocated share-based compensation expense	81	(28)
Selling, General and Administrative Expenses [Member]
Allocated share-based compensation expense	$ 190	$ 206

Note 5 - Share-based Compensa30

Note 5 - Share-based Compensation - Summary of Status of Company's Stock Options (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Balance (in shares) | shares	26,000
Balance (in dollars per share) | $ / shares	$ 24.97
Options granted (in shares) | shares
Options granted (in dollars per share) | $ / shares
Options exercised (in shares) | shares
Options exercised (in dollars per share) | $ / shares
Options canceled (in shares) | shares
Options canceled (in dollars per share) | $ / shares
Balance (in shares) | shares	26,000
Balance (in dollars per share) | $ / shares	$ 24.97
Balance (Year)
Balance | $
Exercisable, March 31, 2017 (in shares) | shares	26,000
Exercisable, March 31, 2017 (in dollars per share) | $ / shares	$ 24.97
Exercisable, March 31, 2017 (Year)	2 years 284 days
Exercisable, March 31, 2017 | $

Note 5 - Share-based Compensa31

Note 5 - Share-based Compensation - Summary of Status of Company's RSUs and PSAs (Details) - Restricted Stock Units and Performance Stock Awards [Member]	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Unvested RSUs and PSAs (in shares) | shares	221,791
Unvested RSUs and PSAs (in dollars per share) | $ / shares	$ 17.36
RSUs and PSAs granted (in shares) | shares
RSUs and PSAs granted (in dollars per share) | $ / shares
Unvested RSUs and PSAs canceled (in shares) | shares	(46,988)
Unvested RSUs and PSAs canceled (in dollars per share) | $ / shares	$ 43.68
RSUs vested (in shares) | shares	(5,220)
RSUs vested (in dollars per share) | $ / shares	$ 36
Unvested RSUs as of March 31, 2017 (in shares) | shares	169,583
Unvested RSUs and PSAs (in dollars per share) | $ / shares	$ 9.50

Note 6 - Commitments and Cont32

Note 6 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended
	Jan. 31, 2017USD ($)	Jan. 31, 2015USD ($)	Jul. 31, 2014USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2014USD ($)
Number Of Potentially Responsible Parties				100
Estimated Cost of EPA Selected Remedy	$ 1,050
Estimated Time to Complete Selected EPA Remedy	13 years
Insurance Recoveries		$ 2.6
Letters of Credit Outstanding, Amount				$ 2
Portland Harbor Natural Resources Trustee Council [Member]
Loss Contingency, Accrual, Current					$ 0.4
Loss Contingency Accrual, Payments			$ 0.2
Voluntary Cleanup Program [Member] | Estimated [Member]
Accrual for Environmental Loss Contingencies				0.2
Voluntary Cleanup Program [Member] | Minimum [Member]
Loss Contingency, Estimate of Possible Loss				0.1
Voluntary Cleanup Program [Member] | Maximum [Member]
Loss Contingency, Estimate of Possible Loss				$ 1.6
Lower Willamette Group [Member]
Number Of Potentially Responsible Parties	14

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Percent	5.40%	5.30%
Income Tax Expense (Benefit)	$ (221)	$ (532)
Unrecognized Tax Benefits	4,900		$ 4,900
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ 800

Note 8 - Accumulated Other Co34

Note 8 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Beginning balance	$ 209,213
Ending balance	205,687
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Beginning balance	(1,493)	$ (1,624)
Other comprehensive income (loss) before reclassifications	25	33
Amounts reclassified from Accumulated other comprehensive loss	77	67
Net current period adjustments to Other comprehensive income (loss)	102	100
Ending balance	(1,391)	(1,524)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Beginning balance	10	86
Other comprehensive income (loss) before reclassifications	(12)	(86)
Amounts reclassified from Accumulated other comprehensive loss	5	(46)
Net current period adjustments to Other comprehensive income (loss)	(7)	(132)
Ending balance	3	(46)
AOCI Attributable to Parent [Member]
Beginning balance	(1,483)	(1,538)
Other comprehensive income (loss) before reclassifications	13	(53)
Amounts reclassified from Accumulated other comprehensive loss	82	21
Net current period adjustments to Other comprehensive income (loss)	95	(32)
Ending balance	$ (1,388)	$ (1,570)

Note 8 - Accumulated Other Co35

Note 8 - Accumulated Other Comprehensive Loss - Schedule of Reclassifications of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net periodic pension cost	$ (28,886)	$ (39,365)
Associated income tax (expense) benefit	221	532
Reclassifications for the period	(3,868)	(9,583)
Gain (loss) on cash flow hedges	29,666	33,928
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications for the period	(82)	(21)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Net periodic pension cost	(81)	(71)
Associated income tax (expense) benefit	4	4
Reclassifications for the period	(77)	(67)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Associated income tax (expense) benefit	3	(28)
Reclassifications for the period	(5)	46
Gain (loss) on cash flow hedges	$ (8)	$ 74

Note 9 - Loss Per Share (Detail

Note 9 - Loss Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	196,000	94,000

Note 9 - Loss Per Share - Loss

Note 9 - Loss Per Share - Loss Per Basic and Diluted Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Net loss		$ (3,868)	$ (9,583)
Basic weighted-average common shares outstanding (in shares)		9,604	9,572
Effect of potentially dilutive common shares (in shares)	[1]
Diluted weighted-average common shares outstanding (in shares)		9,604	9,572
Basic and diluted loss per share (in dollars per share)		$ (0.40)	$ (1)
[1]	Due to the Company's net loss in the three months ended March 31, 2017 and 2016, the assumed exercise of stock options and the vesting of restricted stock units and performance share 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 approximately 196,000 and 94,000 for the three months ended March 31, 2017 and 2016, respectively.

Note 10 - Segment Information -

Note 10 - Segment Information - Segment Information Report of Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 29,666	$ 33,928
Gross profit (loss)	780	(5,437)
Operating loss	(3,941)	(10,036)
Water Transmission Group [Member] | Operating Segments [Member]
Net sales	29,657	29,358
Gross profit (loss)	1,165	(5,750)
Operating loss	(914)	(7,256)
Tubular Products [Member] | Operating Segments [Member]
Net sales	9	4,570
Gross profit (loss)	(385)	313
Operating loss	(430)	104
Corporate Segment [Member]
Operating loss	$ (2,597)	$ (2,884)

Note 11 - Recent Accounting a39

Note 11 - Recent Accounting and Reporting Developments (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Expense (Benefit)	$ (221)	$ (532)
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ 800

Note 12 - Restructuring (Detail

Note 12 - Restructuring (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Charges	$ 881
Demobilization Activities [Member]
Restructuring Charges	$ 900