Empire Resources (ERS) 10-K 31 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 18, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	EMPIRE RESOURCES INC /NEW/
Entity Central Index Key	1,019,272
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 15,679,343
Trading Symbol	ERS
Entity Common Stock, Shares Outstanding		8,250,455

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 4,065	$ 7,315
Trade accounts receivable (less allowance for doubtful accounts of $1,198 and $1,190)	52,810	60,525
Inventories	133,031	157,025
Deferred tax assets	3,993	5,101
Other current assets, including derivatives	4,342	10,601
Total current assets	198,241	240,567
Property and equipment, net	7,309	7,340
Total assets	205,550	247,907
Current liabilities:
Notes payable - banks, net of unamortized financing costs of $242 and $629	121,449	138,517
Current maturities of mortgage payable	265	265
Subordinated convertible debt net of unamortized discount of $216	0	10,784
Trade accounts payable	21,926	35,741
Income taxes payable	913	2,092
Accrued expenses and derivative liabilities	6,084	6,177
Derivative liability for embedded conversion option	0	942
Dividends payable	336	213
Total current liabilities	150,973	194,731
Mortgage payable, net of current maturities	4,704	4,969
Deferred taxes payable	155	8
Total liabilities	155,832	199,708
Commitments (Note R)
Stockholders' equity:
Common stock $0.01 par value, 20,000,000 shares authorized and 11,749,651 shares issued at December 31, 2016 and 2015	117	117
Additional paid-in capital	13,037	13,037
Retained earnings	44,824	42,749
Accumulated other comprehensive loss	(673)	(666)
Treasury stock, 3,349,196 and 3,218,691 shares at December 31, 2016 and 2015, respectively	(7,587)	(7,038)
Total stockholders' equity	49,718	48,199
Total liabilities and stockholders' equity	$ 205,550	$ 247,907

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts, trade accounts	$ 1,198	$ 1,190
Unamortized Debt Issuance Expense	242	629
Unamortized discount, subordinated convertible debt	$ 216	$ 216
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	11,749,651	11,749,651
Treasury stock (in shares)	3,349,196	3,218,691

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 458,864	$ 521,736
Cost of goods sold	437,050	498,881
Gross profit	21,814	22,855
Selling, general and administrative expenses	13,738	14,519
Operating income	8,076	8,336
Interest expense, net	3,901	6,000
Income before other expenses	4,175	2,336
Other expenses
Change in value of derivative liability	942	1,792
Loss on sale of property and equipment	0	(244)
Income before income taxes	5,117	3,884
Income taxes	1,816	1,075
Net income	$ 3,301	$ 2,809
Weighted average shares outstanding:
Basic (in shares)	8,465	8,669
Diluted (in shares)	9,713	11,685
Earnings per share:
Basic (in dollars per share)	$ 0.39	$ 0.32
Diluted (in dollars per share)	$ 0.29	$ 0.20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows - operating activities:
Net income	$ 3,301	$ 2,809
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	726	737
Loss on sale of property and equipment	0	244
Change in value of derivative liability	(942)	(1,792)
Amortization of convertible note discount	216	586
Imputed interest on vendor advance	0	(56)
Provision for doubtful accounts	4	649
Amortization of supply agreement	0	321
Deferred income taxes	1,255	(1,233)
Foreign exchange loss and other	1,360	676
Changes in:
Trade accounts receivable	7,226	27,793
Inventories	22,853	33,898
Other current assets	6,226	7,986
Trade accounts payable	(13,811)	(6,866)
Income taxes payable	(1,430)	(2,089)
Accrued expenses and derivative liabilities	225	2,123
Net cash provided by operating activities	27,209	65,786
Cash flows - investing activities:
Repayment related to supply agreement	0	3,333
Proceeds from sale of property and equipment	0	3,768
Purchases of property and equipment	(160)	(7,278)
Net cash (used in) investing activities	(160)	(177)
Cash flows - financing activities:
Repayment of notes payable - banks	(17,084)	(61,078)
Repayment of subordinated convertible notes payable	(11,000)
Proceeds from mortgage loan for new warehouse	0	5,300
Repayments of mortgage loan	(265)	(66)
Deferred financing costs	(148)	(158)
Dividends paid	(1,104)	(1,101)
Treasury stock purchased	(549)	(1,583)
Purchase of stock options	0	(922)
Excess tax benefit related to stock options purchased	0	281
Net cash (used in) financing activities	(30,150)	(59,327)
Net increase/(decrease) in cash	(3,101)	6,282
Effect of exchange rate	(149)	(97)
Cash at beginning of year	7,315	1,130
Cash at end of year	4,065	7,315
Supplemental disclosures of cash flow information:
Interest	3,770	5,561
Income taxes	2,081	2,657
Non cash financing activities:
Dividend declared but not yet paid	$ 336	$ 213

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2014	$ 48,811	$ 117	$ 13,678	$ 40,805	$ (334)	$ (5,455)
Balance (in shares) at Dec. 31, 2014		11,750
Treasury stock acquired	(1,583)					(1,583)
Stock options purchased	(922)		(922)
Excess tax benefit related to purchase of stock options	281		281
Net change in cumulative translation adjustment	(332)				(332)
Dividends declared	(865)			(865)
Net income	2,809			2,809
Balance at Dec. 31, 2015	48,199	$ 117	13,037	42,749	(666)	(7,038)
Balance (in shares) at Dec. 31, 2015		11,750
Treasury stock acquired	(549)					(549)
Net change in cumulative translation adjustment	(7)				(7)
Dividends declared	(1,226)			(1,226)
Net income	3,301			3,301
Balance at Dec. 31, 2016	$ 49,718	$ 117	$ 13,037	$ 44,824	$ (673)	$ (7,587)
Balance (in shares) at Dec. 31, 2016		11,750

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' Equity [Parenthetical] - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Dividends declared	$ 0.145	$ 0.10

Business

Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note A – Business Empire Resources, Inc. (“the Company”) is engaged principally in the purchase, sale and distribution of value added semi-finished aluminum and steel products to a diverse customer base located throughout the Americas, Australia, Europe and New Zealand. The Company sells its products through its own marketing and sales personnel and through independent sales agents located in the U.S., Australia and Europe who receive commissions on sales. The Company purchases from several suppliers located throughout the world (see Note B [14]).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note B - Summary of Significant Accounting Policies Principles of consolidation: The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Empire Resources Pacific Ltd., the Company’s sales agent in Australia, 8911 Kelso Drive, (organized in June 2015) the owner of the warehouse facility in Essex, Maryland, 6900 Quad Avenue, LLC, the former owner of a warehouse facility in Baltimore, Maryland which was sold in 2015, Empire Resources de Mexico, Imbali Metals BVBA (“Imbali”), and Empire Resources UK Ltd (organized in February 2015), the Company’s operating subsidiaries in Mexico and Europe. All intercompany balances and transactions have been eliminated in consolidation. [2] Revenue recognition: Revenue on product sales is recognized at the point in time when the product has been shipped or delivered, title and risk of loss has been transferred to the customer, and the following conditions are met: persuasive evidence of an arrangement exists, the price is fixed and determinable, and collectability of the resulting receivable is reasonably assured. Accounts receivable: Accounts receivable are stated as the outstanding balance due from customers, net of an allowance for doubtful accounts. The Company maintains a credit insurance policy with a 10 Inventories: Inventories which consist of purchased semi-finished metal products are stated at the lower of cost or market. Cost is determined by the specific-identification method. Inventory has generally been purchased for specific customer orders. The carrying amount of inventory which is hedged by futures contracts designated as fair value hedges is adjusted to fair value. [5] Property and equipment: Property and equipment are stated at cost and depreciated by the straight-line method over their estimated useful lives. Impaired assets are written down to their fair value. Derivatives: The Company recognizes all derivatives in the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value through earnings. If the derivative is a hedge, depending upon the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings (fair value hedge), or recognized in other comprehensive income until the hedged item is recognized in earnings (cash flow hedge). The ineffective portion of a derivative’s change in fair value, if any, is immediately recognized in earnings. When a hedged item in a fair value hedge is sold, the adjustment in the carrying amount of the hedged item is recognized in earnings (see Note E). [7] Foreign currency translation: The functional currency of Empire Resources Pacific Ltd., a wholly-owned domestic subsidiary which acts as a sales agent in Australia and New Zealand, is the Australian dollar. The Company also has wholly owned foreign subsidiaries incorporated in Belgium and England which sell semi-finished metal products in Europe. The functional currency of the Belgian subsidiary is the Euro and that of the English subsidiary is the British Pound. Cumulative translation adjustments, which are charged or credited to accumulated other comprehensive income, arise from translation of functional currency amounts into U.S. dollars. Income taxes: The Company follows the asset and liability approach for deferred income taxes. This method provides that deferred tax assets and liabilities are recorded, using currently enacted tax rates, based upon the difference between the tax bases of assets and liabilities and their carrying amounts for financial statement purposes. Deferred tax asset valuation allowances are recorded when management believes that it is more likely than not that the related deferred tax assets will be not be realized. Per share data: Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share give effect to all dilutive outstanding stock options, using the treasury stock method and assumed conversion of subordinated debt (see Note O). Stock - based compensation: Stock-based compensation expense for an award of equity instruments, including stock options, is recognized over the vesting period based on the fair value of the award at the grant date. [11] Certain New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance, Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers, on revenue recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requiring additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. For public entities, this ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted for fiscal years and interim periods within those years beginning after December 15, 2016, the original effective date of the statement. The Company primarily sells its inventories pursuant to fixed formula price purchase orders and does not enter into transactions with multiple performance obligations. As such, even though the Company is evaluating the impact of the adoption of the new standard, the Company does not expect this standard to have a material impact on its revenue recognition. In August 2014 the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 2015-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are any conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. The guidance requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. The guidance will be effective for fiscal years beginning after December 15, 2015. ASU No. 2015-03 requires the new guidance to be applied on a retroactive basis. The Company adopted this guidance in the quarter ended March 31, 2016 and resulted in the Company reclassifying long term unamortized financing costs of $ 242 629 In July 2015, the FASB issued Accounting Standards Update 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory ("ASU 2015-11") which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015-11 defines net realizable value as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new accounting guidance is effective for interim and annual periods beginning after December 15, 2016 with early adoption permitted. We do not expect the adoption of this guidance will have a material impact on our financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes- Balance Sheet Classification of Deferred Taxes. To simplify the presentation of deferred income taxes, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this update apply to all entities that present a classified statement of financial position. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”) which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018 with early adoption permitted. Under ASU 2016-02, lessees will be required to recognize for all leases at the commencement date a lease liability, which is a lessee’s obligation to make lease payments arising from a lease measured on a discounted basis, and a right-to-use asset, which is an asset that represents the lessee’s right to use or control the use of a specified asset for the lease term. The Company is currently evaluating the effect that the new guidance will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Payments, which addresses the classification of certain specific cash receipts and payments within the statement of cash flows, with the objective of reducing the existing diversity in practice of such classifications. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017 with early adoption permitted. The guidance is to be applied using a retrospective transition method to each period presented. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. [12] Fair Value Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three broad levels, as described below: · · · Derivative contracts consisting of aluminum future contracts and foreign currency forward contracts are valued using quoted market prices and significant other observable inputs. These financial instruments are typically exchange-traded and are generally classified within Level 1 or Level 2 of the fair value hierarchy depending on whether the exchange is deemed to be an active market or not. The conversion option embedded in convertible subordinated notes issued in 2011 was valued using Level 3 inputs. December 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Inventories $ 117,682 $ 149,451 Aluminum futures contracts $ 774 3,892 Foreign currency forward contracts $ 752 - Liabilities: Embedded conversion option - $ 942 Foreign currency forward contracts - 348 Use of estimates: The preparation of financial statements in accordance with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates. [14] Significant customers and concentration of suppliers: For the years ended December 31, 2016, and 2015, one customer accounted for 11.5 10 The Company’s purchase of metal products is from several suppliers located throughout the world. Three suppliers, PT. Alumindo Light Metal Industry Tbk (“PT. Alumindo”), Hulamin Ltd and Southeast Aluminium (China) Co. Ltd, accounted for 53 56

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	Note C – Fair Value of Financial Instruments The carrying amounts of variable rate notes payable to the banks and the variable rate mortgage payable approximate fair value as of December 31, 2016 and 2015 because these notes reflect market changes to interest rates. The fair value of the subordinated convertible debt approximates its principal amount of $11,000 at December 31, 2015, which exceeds its carrying amount as a result of the unamortized discount related to the bifurcation of the embedded conversion option. Fair value of financial instruments are based on level 2 inputs. Derivative financial instruments are carried at fair value (see

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note D – Property and Equipment December 31, 2016 2015 Estimated Useful Life Cost: Land $ 2,150 $ 2,150 Buildings and improvements 4,878 4,854 10 and 40 years Other equipment 1,843 1,707 3 to 5 years 8,871 8,711 Less: Accumulated depreciation 1,562 1,371 Net Book Value $ 7,309 $ 7,340 During 2015, the Company sold its warehouse facility in Baltimore, Maryland for $ 3,768 244 6,575 Depreciation expense was $ 190 185

Derivative Financial Instrument

Derivative Financial Instruments and Risk Management	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note E – Derivative Financial Instruments and Risk Management The Company uses derivative financial instruments designated as fair value hedges to manage its exposure to commodity price risk and foreign currency exchange risk inherent in its operations. It is the Company’s policy to hedge such risks to the extent practicable. The Company enters into high-grade aluminum futures contracts to limit its gross margin exposure by hedging the metal content element of firmly committed purchase and sales commitments. The Company also enters into foreign exchange forward contracts to hedge its exposure related to commitments to buy and sell its products denominated in international currencies, primarily the Australian dollar. Derivatives designated December 31, December 31, as fair value hedges Balance Sheet Location 2016 2015 Asset (liability) derivatives: Aluminum futures contracts Other current assets $ 774 3,892 Foreign currency forward contracts Other current assets/ (liabilities) 752 (348) Total $ 1,526 $ 3,544 For the years ended December 31, 2016, and 2015, hedge ineffectiveness associated with derivatives designated as fair value hedges was insignificant, and no fair value hedges were derecognized. Year Ended Derivatives in hedging Location of Gain or December 31, relationships (Loss) Recognized 2016 2015 Foreign currency forward contracts (a) Cost of goods sold $ (111) $ (540) Aluminum futures (b) Cost of goods sold 598 24,518 Total $ 487 $ 23,978 (a) Fair value hedge: the related hedged item is accounts receivable and accounts payable denominated in foreign currency and offsetting gains in 2016 and 2015, in the same respective amounts are included in cost of goods sold. (b) Fair value hedge: the related hedged item is inventory and offsetting losses in 2016 and 2015, in the same respective amounts are included in cost of goods sold in 2016 and 2015.

Accrued expenses and derivative

Accrued expenses and derivative liabilities	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note F – Accrued expenses and derivative liabilities December 31, 2016 2015 Accrued expenses $ 6,084 $ 5,829 Derivative liabilities - 348 $ 6,084 $ 6,177

Mortgage Payable

Mortgage Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Mortgage Notes Payable Disclosure [Text Block]	Note G – Mortgage Payable On October 15, 2015 the Company entered into a $ 5,300 2025 22.1 Year Ending December 31, 2017 $ 265 2018 265 2019 265 2020 265 2021 265 Thereafter 3,644 $ 4,969

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	Note H - Notes Payable Prior to June 19, 2014, we were a party to credit agreement with Rabobank International, for itself and as lead arranger and agent, JPMorgan Chase, for itself and as syndication agent, and ABN AMRO, BNP Paribas, RBS Citizens, Société Générale, and Brown Brothers Harriman which provided for a $ 200,000 On June 19, 2014 the Company entered into an amended and restated committed credit agreement with Rabobank International, for itself and as lead arranger and agent, BNP Paribas, for itself and as syndication agent, and Société Générale, ABN AMRO, RB International, and Brown Brothers Harriman as well as a new uncommitted line of credit with Rabobank International, BNP Paribas and Société Générale. Both credit lines are secured, asset-based credit facilities. The committed credit facility provided for amounts up to $ 150,000 75,000 75,000 300,000 50,000 275,000 35,000 185,000 15,000 90,000 162,500 50,000 June 19, 2017 40,000 Amounts borrowed bear interest at Eurodollar, money market or base rates, at our option, plus an applicable margin. The credit agreements contain financial and other covenants, including but not limited to, covenants requiring maintenance of minimum tangible net working capital and compliance with leverage ratios, as well as an ownership minimum and limitations on other indebtedness, liens, distributions or dividends, and investments and dispositions of assets. As of December 31, 2016, the Company was in compliance with all covenants under this credit agreement. Both credit agreements provide that amounts under the facilities may be borrowed and repaid, and re-borrowed, subject to a borrowing base test. The committed line and uncommitted lines of credit mature June 19, 2017 151,608 158,922 40,008 27,922 Company does not currently have the liquid funds to repay the debt at maturity, the Company is negotiating a new line of credit and believes that it is probable that a new credit agreement will be in effect prior to the expiration of the current agreement; however there can be no assurances that it will be able to successfully conclude a new agreement. The Company’s wholly owned Belgian subsidiary, Imbali, maintained a line of credit with ING Belgium S.A./N.V., (“ING”) for a EUR 8,000 8,416 12,500 13,150 4,000 4,208 EURIBOR plus 1.9%. 9,592 10,091 7,500 7,890 1,235 1,500

Convertible Subordinated Debt

Convertible Subordinated Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Subordinated Borrowings Disclosure [Text Block]	Note I – Convertible Subordinated Debt On June 3, 2011, the Company issued $ 12,000 10 11,000 265.82 1 3.762 4,000 As a result of transactions which caused adjustments to the conversion rate, the embedded conversion option was bifurcated and recorded as a separate derivative liability at a fair value at issuance of the notes of $ 2,829 942 1,792 216 586 0 Prior to maturity, the derivative liability was valued using a lattice model using Level 3 inputs. This technique was selected because it embodies all of the types of inputs that the Company expects market participants would consider in determining the fair value of equity linked derivatives embedded in hybrid debt agreements. December 31, 2015 June 3, 2011 Equity value $ 29,846 $ 36,811 Volatility 60 % 70 % Risk free return 0.49 % 1.60 % Dividend yield 2.87 % 2.51 % Strike price $ 3.79 $ 4.65 The majority of proceeds of the convertible subordinated debt was earmarked for a long term advance in connection with a supply agreement with the Indonesian company PT. Alumindo a leading producer of high quality semi-finished aluminum products, and its affiliates, as described below. The agreement called for, and the Company provided a $ 10,000 278 Interest at the rate of 3.69 962 56 321

Stock Options

Stock Options	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note J - Stock Options The Company’s 2006 Stock Option Plan (the “2006 Plan”), as amended, provides for the granting of options to purchase not more than an aggregate of 559,000 The 2006 Plan provides that it is to be administered by the board of directors, or by a committee appointed by the board of directors, which will be responsible for determining, subject to the provisions of the 2006 Plan, to whom the options are granted, the number of shares of common stock subject to an option, whether an option shall be incentive or non-qualified, the exercise price of each option (which, other than in the case of incentive stock options, may be less than the fair market value of the shares on the date of grant), the period during which each option may be exercised and the other terms and conditions of each option. No options may be granted under the 2006 Plan after June 26, 2016. Weighted Average Weighted Remaining Average contractual Aggregate Number of Exercise term Intrinsic Shares Price (years) Value Options outstanding and exercisable at December 31, 2014 400 4.73 $ 1,258 Options repurchased (350) $ 1.47 Options outstanding and exercisable at December 31, 2015 50 $ 1.63 3.72 $ 93 Options canceled - Options exercised - Options outstanding and exercisable at December 31, 2016 50 $ 1.63 2.71 $ 258 Options available for grant under 2006 Plan at December 31, 2016 - Stock-based compensation for an award of equity instruments, including stock options, is recognized as an expense over the vesting period based on the fair value of the award at the grant date. On May 19 and May 20, 2015 the Company repurchased 350 922 281 50

TREASURY STOCK

TREASURY STOCK	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Treasury Stock [Text Block]	Note K - Treasury Stock On July 22, 2008, the board of directors authorized the Company to repurchase up to 2,000 1,843 5,766 130 375 549 1,583

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Note L – Accumulated other comprehensive income/(Loss) Foreign Currency Year ended December 31, 2016 Translation Beginning balance $ (666) Other comprehensive loss (7) Ending balance $ (673) Foreign Currency Year ended December 31, 2015 Translation Beginning balance $ (334) Other comprehensive loss (332) Ending balance $ (666)

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note M - Income Taxes Year Ended December 31, 2016 2015 U.S. $ 5,928 $ 3,259 Foreign (811) 625 $ 5,117 $ 3,884 Year Ended December 31, 2016 2015 Current U.S. Federal $ 361 $ 1,476 State and local 131 607 Foreign 69 225 561 2,308 Deferred U.S. Federal 975 (1,099) State and local 280 (134) Foreign - - 1,255 (1,233) $ 1,816 $ 1,075 Year Ended December 31, 2016 2015 Provision for taxes at statutory rate of 34% $ 1,740 $ 1,321 State and local taxes, net of federal tax effect 301 312 Permanent differences (a) (240) (426) Provision for/(reversal of) prior year unrecognized tax benefits 2 (103) Other 13 (29) $ 1,816 $ 1,075 (a) Prinicipally related to the change in the value of derivative liability for the embedded conversion option Year Ended December 31, 2016 2015 Deferred current tax assets Allowance for doubtful accounts $ 452 $ 447 Accrued expenses 196 478 Inventories 3,345 4,176 Derivative liability for embedded conversion option - 82 3,993 5,183 Deferred current tax liabilities Unamortized debt discount - (82) - (82) Net deferred current tax assets $ 3,993 $ 5,101 Deferred long-term tax liabilities Property and Equipment (155) (8) (155) (8) Net deferred long-term tax assets/(liabilities) (155) (8) Net deferred tax assets $ 3,838 $ 5,093 Foreign loss and income and related foreign income taxes primarily relates to the Company’s subsidiaries in Belgium, Imbali Metals BVBA, Empire Resources (UK) Limited and Empire Resources de Mexico. For US income tax purposes, the Company has elected to treat Imbali and Empire Resources (UK) as disregarded entities and include their taxable income or loss in the Company’s U.S. consolidated federal income tax return and separate state income tax returns. All three foregin entities are taxed as corporations in their respective countries. Due to U.S. tax rules dealing with constructive repatriation of earnings, if there are earnings of Empire Resources de Mexico, such earnings would also be included in the Company’s U.S. consolidated federal income tax return and separate state income tax return. Federal income taxes attributable to the subsidiaries taxable income are offset by tax credits for foreign taxes paid by the subsidiaries. Undistributed earnings of Imbali amounted to approximately $ 3,297 585 5 The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. 2016 2015 Balance at January 1 $ 67 $ 170 Reductions from settlements or filings with state tax authorities - - Reductions from lapse of statute of limitations (3) (20) Settlements - - Net increase/(decrease) for tax positions of prior years 6 (83) Balance at December 31 (a) $ 70 $ 67 (a) Liability included in income taxes payable in the consolidated balance sheets. The total amount of unrecognized tax benefits at December 31, 2016 and 2015 would impact the Company’s effective tax rate, if recognized. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company recognized additional accrued interest of approximately $ 5 44 27 22 The Company files a consolidated federal income tax return and also files income tax returns in various state jurisdictions. With certain exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by taxing authorities for years before 2013.

Employee Retirement Benefits

Employee Retirement Benefits	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note N - Employee Retirement Benefits The Company has implemented a salary reduction employee benefit plan, under Section 401(k) of the Internal Revenue Code. Employees may contribute up to the maximum amount allowable by law and the Company will provide a matching contribution of 50 2 Each employee’s pre-tax contributions are immediately vested upon participation in the plan. Years of service Vested 1 25 % 2 50 % 3 75 % 4 100 % 74 75

Per Share Data

Per Share Data	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note O – Per Share Data Year Ended Ended December 31, 2016 2015 Numerator: Net income $ 3,301 $ 2,809 Add back of interest on convertible subordinated debt, net of taxes 283 680 Add back of amortization of discount on convertible subordinated debt, net of taxes 134 363 Adjustment for change in value of convertible note derivative, net of taxes (859) (1,569) Numerator for diluted earnings per share $ 2,859 $ 2,283 Denominator: Weighted average shares outstanding-basic 8,465 8,669 Dilutive effect of convertible subordinated debt 1,218 2,902 Dilutive effect of stock options 30 114 Weighted average shares outstanding-diluted 9,713 11,685 Basic earnings per share $ 0.39 $ 0.32 Diluted earnings per share $ 0.29 $ 0.20

Dividends

Dividends	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Dividend Disclosure [Text Block]	Note P – D ividends On March 23, 2016, the Company announced a cash dividend of $ 0.025 212 0.04 340 0.04 339 0.04 336 The board of directors will review its dividend policy on a quarterly basis, and make a determination on future dividend distributions subject to the profitability and free cash flow and the other requirements of the business.

Business Segment and Geographic

Business Segment and Geographic Area Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note Q – Business Segment and Geographic Area Information Year Ended December 31, 2016 2015 United States $ 338,564 $ 385,729 Europe 44,510 38,569 Canada 37,211 42,522 Australia & New Zealand 34,707 39,312 Latin America 3,872 15,604 $ 458,864 $ 521,736

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note R - Commitments and Contingencies [1] Lease: Year Ending December 31, 2017 353 2018 361 2019 368 2020 361 2021 358 Thereafter 1,119 $ 2,920 Rent expense for the years ended December 31, 2016 and 2015 was $ 421 317 [2] Letters of credit: Outstanding letters of credit at December 31, 2016, amounted in total to approximately $ 41,243 29,422

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note S - Subsequent Event On March 30, 2017, the Company entered into a merger agreement to be acquired by Ta Chen Stainless Pipe Ltd. for $7 per common share in cash or a total price of approximately $58 million for all shares. The transaction is expected to close in the second quarter of 2017. The completion of the transaction is subject to certain customary conditions and there is no assurance that the transaction will be completed or that it will be completed in the second quarter of 2017. If the merger agreement is terminated under certain circumstances the Company will be obligated to pay a break-up fee of $1 million.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation: The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Empire Resources Pacific Ltd., the Company’s sales agent in Australia, 8911 Kelso Drive, (organized in June 2015) the owner of the warehouse facility in Essex, Maryland, 6900 Quad Avenue, LLC, the former owner of a warehouse facility in Baltimore, Maryland which was sold in 2015, Empire Resources de Mexico, Imbali Metals BVBA (“Imbali”), and Empire Resources UK Ltd (organized in February 2015), the Company’s operating subsidiaries in Mexico and Europe. All intercompany balances and transactions have been eliminated in consolidation.
Revenue Recognition, Policy [Policy Text Block]	[2] Revenue recognition: Revenue on product sales is recognized at the point in time when the product has been shipped or delivered, title and risk of loss has been transferred to the customer, and the following conditions are met: persuasive evidence of an arrangement exists, the price is fixed and determinable, and collectability of the resulting receivable is reasonably assured.
Accounts Receivable And Allowance, Policy [Policy Text Block]	Accounts receivable: Accounts receivable are stated as the outstanding balance due from customers, net of an allowance for doubtful accounts. The Company maintains a credit insurance policy with a 10
Inventory, Policy [Policy Text Block]	Inventories: Inventories which consist of purchased semi-finished metal products are stated at the lower of cost or market. Cost is determined by the specific-identification method. Inventory has generally been purchased for specific customer orders. The carrying amount of inventory which is hedged by futures contracts designated as fair value hedges is adjusted to fair value.
Property, Plant and Equipment, Policy [Policy Text Block]	[5] Property and equipment: Property and equipment are stated at cost and depreciated by the straight-line method over their estimated useful lives. Impaired assets are written down to their fair value.
Derivatives, Policy [Policy Text Block]	Derivatives: The Company recognizes all derivatives in the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value through earnings. If the derivative is a hedge, depending upon the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings (fair value hedge), or recognized in other comprehensive income until the hedged item is recognized in earnings (cash flow hedge). The ineffective portion of a derivative’s change in fair value, if any, is immediately recognized in earnings. When a hedged item in a fair value hedge is sold, the adjustment in the carrying amount of the hedged item is recognized in earnings (see Note E).
Foreign Currency Transactions and Translations Policy [Policy Text Block]	[7] Foreign currency translation: The functional currency of Empire Resources Pacific Ltd., a wholly-owned domestic subsidiary which acts as a sales agent in Australia and New Zealand, is the Australian dollar. The Company also has wholly owned foreign subsidiaries incorporated in Belgium and England which sell semi-finished metal products in Europe. The functional currency of the Belgian subsidiary is the Euro and that of the English subsidiary is the British Pound. Cumulative translation adjustments, which are charged or credited to accumulated other comprehensive income, arise from translation of functional currency amounts into U.S. dollars.
Income Tax, Policy [Policy Text Block]	Income taxes: The Company follows the asset and liability approach for deferred income taxes. This method provides that deferred tax assets and liabilities are recorded, using currently enacted tax rates, based upon the difference between the tax bases of assets and liabilities and their carrying amounts for financial statement purposes. Deferred tax asset valuation allowances are recorded when management believes that it is more likely than not that the related deferred tax assets will be not be realized.
Earnings Per Share, Policy [Policy Text Block]	Per share data: Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share give effect to all dilutive outstanding stock options, using the treasury stock method and assumed conversion of subordinated debt (see Note O).
Compensation Related Costs, Policy [Policy Text Block]	Stock - based compensation: Stock-based compensation expense for an award of equity instruments, including stock options, is recognized over the vesting period based on the fair value of the award at the grant date.
New Accounting Pronouncements, Policy [Policy Text Block]	[11] Certain New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance, Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers, on revenue recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requiring additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. For public entities, this ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted for fiscal years and interim periods within those years beginning after December 15, 2016, the original effective date of the statement. The Company primarily sells its inventories pursuant to fixed formula price purchase orders and does not enter into transactions with multiple performance obligations. As such, even though the Company is evaluating the impact of the adoption of the new standard, the Company does not expect this standard to have a material impact on its revenue recognition. In August 2014 the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 2015-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are any conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. The guidance requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. The guidance will be effective for fiscal years beginning after December 15, 2015. ASU No. 2015-03 requires the new guidance to be applied on a retroactive basis. The Company adopted this guidance in the quarter ended March 31, 2016 and resulted in the Company reclassifying long term unamortized financing costs of $ 242 629 In July 2015, the FASB issued Accounting Standards Update 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory ("ASU 2015-11") which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015-11 defines net realizable value as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new accounting guidance is effective for interim and annual periods beginning after December 15, 2016 with early adoption permitted. We do not expect the adoption of this guidance will have a material impact on our financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes- Balance Sheet Classification of Deferred Taxes. To simplify the presentation of deferred income taxes, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this update apply to all entities that present a classified statement of financial position. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”) which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018 with early adoption permitted. Under ASU 2016-02, lessees will be required to recognize for all leases at the commencement date a lease liability, which is a lessee’s obligation to make lease payments arising from a lease measured on a discounted basis, and a right-to-use asset, which is an asset that represents the lessee’s right to use or control the use of a specified asset for the lease term. The Company is currently evaluating the effect that the new guidance will have on its financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Payments, which addresses the classification of certain specific cash receipts and payments within the statement of cash flows, with the objective of reducing the existing diversity in practice of such classifications. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017 with early adoption permitted. The guidance is to be applied using a retrospective transition method to each period presented. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.
Fair Value Measurement, Policy [Policy Text Block]	[12] Fair Value Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three broad levels, as described below: · · · Derivative contracts consisting of aluminum future contracts and foreign currency forward contracts are valued using quoted market prices and significant other observable inputs. These financial instruments are typically exchange-traded and are generally classified within Level 1 or Level 2 of the fair value hierarchy depending on whether the exchange is deemed to be an active market or not. The conversion option embedded in convertible subordinated notes issued in 2011 was valued using Level 3 inputs. December 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Inventories $ 117,682 $ 149,451 Aluminum futures contracts $ 774 3,892 Foreign currency forward contracts $ 752 - Liabilities: Embedded conversion option - $ 942 Foreign currency forward contracts - 348
Use of Estimates, Policy [Policy Text Block]	Use of estimates: The preparation of financial statements in accordance with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.
Major Customers, Policy [Policy Text Block]	[14] Significant customers and concentration of suppliers: For the years ended December 31, 2016, and 2015, one customer accounted for 11.5 10 The Company’s purchase of metal products is from several suppliers located throughout the world. Three suppliers, PT. Alumindo Light Metal Industry Tbk (“PT. Alumindo”), Hulamin Ltd and Southeast Aluminium (China) Co. Ltd, accounted for 53 56

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Major categories of assets and liabilities measured at fair value at December 31, 2016 and 2015 are classified as follows: December 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Inventories $ 117,682 $ 149,451 Aluminum futures contracts $ 774 3,892 Foreign currency forward contracts $ 752 - Liabilities: Embedded conversion option - $ 942 Foreign currency forward contracts - 348

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment are summarized as follows: December 31, 2016 2015 Estimated Useful Life Cost: Land $ 2,150 $ 2,150 Buildings and improvements 4,878 4,854 10 and 40 years Other equipment 1,843 1,707 3 to 5 years 8,871 8,711 Less: Accumulated depreciation 1,562 1,371 Net Book Value $ 7,309 $ 7,340

Derivative Financial Instrume30

Derivative Financial Instruments and Risk Management (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	The Company’s unrealized assets and liabilities in respect of its fair value hedges measured at fair value at December 31, 2016 and 2015 are as follows: Derivatives designated December 31, December 31, as fair value hedges Balance Sheet Location 2016 2015 Asset (liability) derivatives: Aluminum futures contracts Other current assets $ 774 3,892 Foreign currency forward contracts Other current assets/ (liabilities) 752 (348) Total $ 1,526 $ 3,544
Schedule Of Derivatives Designated As Cash Flow Hedges [Table Text Block]	The table below summarizes the realized gain or (loss) on the Company’s derivative instruments and their location in the income statement: Year Ended Derivatives in hedging Location of Gain or December 31, relationships (Loss) Recognized 2016 2015 Foreign currency forward contracts (a) Cost of goods sold $ (111) $ (540) Aluminum futures (b) Cost of goods sold 598 24,518 Total $ 487 $ 23,978 (a) Fair value hedge: the related hedged item is accounts receivable and accounts payable denominated in foreign currency and offsetting gains in 2016 and 2015, in the same respective amounts are included in cost of goods sold. (b) Fair value hedge: the related hedged item is inventory and offsetting losses in 2016 and 2015, in the same respective amounts are included in cost of goods sold in 2016 and 2015.

Accrued expenses and derivati31

Accrued expenses and derivative liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Schedule Of Accrued Expenses And Derivative Liabilities [Table Text Block]	Accrued expenses and derivative liabilities consist of the following: December 31, 2016 2015 Accrued expenses $ 6,084 $ 5,829 Derivative liabilities - 348 $ 6,084 $ 6,177

Mortgage Payable (Tables)

Mortgage Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt [Table Text Block]	The following are the future maturities of the mortgage at December 31, 2016: Year Ending December 31, 2017 $ 265 2018 265 2019 265 2020 265 2021 265 Thereafter 3,644 $ 4,969

Convertible Subordinated Debt (

Convertible Subordinated Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table summarizes the significant inputs resulting from the calculations at issuance and year end: December 31, 2015 June 3, 2011 Equity value $ 29,846 $ 36,811 Volatility 60 % 70 % Risk free return 0.49 % 1.60 % Dividend yield 2.87 % 2.51 % Strike price $ 3.79 $ 4.65

Stock Options (Tables)

Stock Options (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a summary of stock option activity for the years ended December 31, 2016 and 2015: Weighted Average Weighted Remaining Average contractual Aggregate Number of Exercise term Intrinsic Shares Price (years) Value Options outstanding and exercisable at December 31, 2014 400 4.73 $ 1,258 Options repurchased (350) $ 1.47 Options outstanding and exercisable at December 31, 2015 50 $ 1.63 3.72 $ 93 Options canceled - Options exercised - Options outstanding and exercisable at December 31, 2016 50 $ 1.63 2.71 $ 258 Options available for grant under 2006 Plan at December 31, 2016 -

ACCUMULATED OTHER COMPREHENSI35

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in accumulated other comprehensive income/(loss) for the years ended December 31, 2016 and 2015 on an after tax basis is as follows: Foreign Currency Year ended December 31, 2016 Translation Beginning balance $ (666) Other comprehensive loss (7) Ending balance $ (673) Foreign Currency Year ended December 31, 2015 Translation Beginning balance $ (334) Other comprehensive loss (332) Ending balance $ (666)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	The components of income/(loss) before income taxes were as follows: Year Ended December 31, 2016 2015 U.S. $ 5,928 $ 3,259 Foreign (811) 625 $ 5,117 $ 3,884
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Income tax expense (benefit) consists of the following: Year Ended December 31, 2016 2015 Current U.S. Federal $ 361 $ 1,476 State and local 131 607 Foreign 69 225 561 2,308 Deferred U.S. Federal 975 (1,099) State and local 280 (134) Foreign - - 1,255 (1,233) $ 1,816 $ 1,075
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The U.S. statutory rate can be reconciled to the effective tax rate as follows: Year Ended December 31, 2016 2015 Provision for taxes at statutory rate of 34% $ 1,740 $ 1,321 State and local taxes, net of federal tax effect 301 312 Permanent differences (a) (240) (426) Provision for/(reversal of) prior year unrecognized tax benefits 2 (103) Other 13 (29) $ 1,816 $ 1,075 (a) Prinicipally related to the change in the value of derivative liability for the embedded conversion option
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets and liabilities are composed of the following: Year Ended December 31, 2016 2015 Deferred current tax assets Allowance for doubtful accounts $ 452 $ 447 Accrued expenses 196 478 Inventories 3,345 4,176 Derivative liability for embedded conversion option - 82 3,993 5,183 Deferred current tax liabilities Unamortized debt discount - (82) - (82) Net deferred current tax assets $ 3,993 $ 5,101 Deferred long-term tax liabilities Property and Equipment (155) (8) (155) (8) Net deferred long-term tax assets/(liabilities) (155) (8) Net deferred tax assets $ 3,838 $ 5,093
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2016 and 2015 is as follows: 2016 2015 Balance at January 1 $ 67 $ 170 Reductions from settlements or filings with state tax authorities - - Reductions from lapse of statute of limitations (3) (20) Settlements - - Net increase/(decrease) for tax positions of prior years 6 (83) Balance at December 31 (a) $ 70 $ 67 (a) Liability included in income taxes payable in the consolidated balance sheets.

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule Of Defined Contribution Plan Matching Contribution Vested Based On Length Of Service [Table Text Block]	The employees’ vesting of the Company’s matching contribution is based upon length of service as follows: Years of service Vested 1 25 % 2 50 % 3 75 % 4 100 %

Per Share Data (Tables)

Per Share Data (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following is the reconciliation of the numerators and denominators of the basic and diluted earnings per share: Year Ended Ended December 31, 2016 2015 Numerator: Net income $ 3,301 $ 2,809 Add back of interest on convertible subordinated debt, net of taxes 283 680 Add back of amortization of discount on convertible subordinated debt, net of taxes 134 363 Adjustment for change in value of convertible note derivative, net of taxes (859) (1,569) Numerator for diluted earnings per share $ 2,859 $ 2,283 Denominator: Weighted average shares outstanding-basic 8,465 8,669 Dilutive effect of convertible subordinated debt 1,218 2,902 Dilutive effect of stock options 30 114 Weighted average shares outstanding-diluted 9,713 11,685 Basic earnings per share $ 0.39 $ 0.32 Diluted earnings per share $ 0.29 $ 0.20

Business Segment and Geograph39

Business Segment and Geographic Area Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The Company’s only business segment is the sale and distribution of non-ferrous and ferrous metals. Sales are attributed to countries based on location of customer. Sales to domestic and foreign customers were as follows: Year Ended December 31, 2016 2015 United States $ 338,564 $ 385,729 Europe 44,510 38,569 Canada 37,211 42,522 Australia & New Zealand 34,707 39,312 Latin America 3,872 15,604 $ 458,864 $ 521,736

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year Ending December 31, 2017 353 2018 361 2019 368 2020 361 2021 358 Thereafter 1,119 $ 2,920

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventories [Member] | Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets, Fair Value Disclosure	$ 117,682	$ 149,451
Aluminum Futures Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets, Fair Value Disclosure	774	3,892
Embedded Conversion Option [Member] | Fair Value, Inputs, Level 3 [Member]
Summary Of Significant Accounting Policies [Line Items]
Liabilities, Fair Value Disclosure	0	942
Foreign Currency Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets, Fair Value Disclosure	752	0
Liabilities, Fair Value Disclosure	$ 0	$ 348

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Percentage Of Provision For Accounts Receivable	10.00%
Unamortized Debt Issuance Expense	$ 242	$ 629
Cost Of Goods, Total [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage	53.00%	56.00%
Sales Revenue, Goods, Net [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage	11.50%	10.00%

Fair Value of Financial Instr43

Fair Value of Financial Instruments (Details Textual) $ in Thousands	Dec. 31, 2015USD ($)
Fair Value of Financial Instruments [Line Items]
Debt Instrument, Fair Value Disclosure	$ 11,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 8,871	$ 8,711
Less: Accumulated depreciation	1,562	1,371
Net Book Value	7,309	7,340
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	2,150	2,150
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 4,878	4,854
Buildings and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Buildings and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Other equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 1,843	$ 1,707
Other equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Other equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

Property and Equipment (Detai45

Property and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 190	$ 185
Proceeds from Sale of Property, Plant, and Equipment, Total	0	3,768
Gain (Loss) on Disposition of Property Plant Equipment, Total	$ 0	(244)
Property, Plant and Equipment, Additions		$ 6,575

Derivative Financial Instrume46

Derivative Financial Instruments and Risk Management (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value Hedges, Net, Total	$ 1,526	$ 3,544
Other current assets Member] | Aluminum futures contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value Hedges, Net, Total	774	3,892
Other Current Assets Liabilities [Member] | Foreign currency forward contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value Hedges, Net, Total	$ 752	$ (348)

Derivative Financial Instrume47

Derivative Financial Instruments and Risk Management (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total		$ 487	$ 23,978
Foreign currency forward contracts [Member] | Cost of goods sold [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total	[1]	(111)	(540)
Aluminum futures [Member] | Cost of goods sold [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Total	[2]	$ 598	$ 24,518
[1]	Fair value hedge: the related hedged item is accounts receivable and accounts payable denominated in foreign currency and offsetting gains in 2016 and 2015, in the same respective amounts are included in cost of goods sold.
[2]	Fair value hedge: the related hedged item is inventory and offsetting losses in 2016 and 2015, in the same respective amounts are included in cost of goods sold in 2016 and 2015.

Accrued expenses and derivati48

Accrued expenses and derivative liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accrued Expenses and Derivative Liabilities [Line Items]
Accrued expenses	$ 6,084	$ 5,829
Derivative liabilities	0	348
Accrued Expenses Derivative Liabilities	$ 6,084	$ 6,177

Mortgage Payable (Details)

Mortgage Payable (Details) $ in Thousands	Dec. 31, 2016USD ($)
Mortgage Loans on Real Estate [Line Items]
2,017	$ 265
2,018	265
2,019	265
2,020	265
2,021	265
Thereafter	3,644
Long-term Debt, Total	$ 4,969

Mortgage Payable (Details Textu

Mortgage Payable (Details Textual) - Mortgage Loans [Member]	Oct. 15, 2015USD ($)
Mortgage Loans on Real Estate [Line Items]
Debt Instrument, Face Amount	$ 5,300,000
Debt Instrument, Periodic Payment, Principal	$ 22,100
Debt Instrument, Term	10 years
Debt Instrument, Interest Rate Terms	1.75% over LIBOR
Debt Instrument, Maturity Year	2,025

Notes Payable (Details Textual)

Notes Payable (Details Textual) € in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 19, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2016EUR (€)	Jun. 14, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Jul. 30, 2015USD ($)	Jul. 30, 2015EUR (€)	Dec. 18, 2014USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Amount Outstanding	$ 200,000	$ 40,008				$ 27,922				$ 275,000
Line of Credit Facility, Remaining Borrowing Capacity										40,000
Excess Capital										50,000
Line of Credit Facility, Current Borrowing Capacity		151,608				158,922
Line of Credit Facility, Commitment Fee Amount		8,416	€ 8,000
Line of Credit Facility, Fair Value of Amount Outstanding		$ 10,091		€ 9,592		7,890	€ 7,500
Line Of Credit Facility, Interest Rate, Variable Rate Basis		EURIBOR plus 1.9%.	EURIBOR plus 1.9%.
Borrowings [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Amount Outstanding		$ 1,235				$ 1,500
Committed Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					$ 162,500					35,000
Line of Credit Facility, Current Borrowing Capacity										185,000
Line of Credit Facility, Expiration Date		Jun. 19, 2017	Jun. 19, 2017
Uncommitted Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Amount Outstanding								$ 13,150	€ 12,500
Line of Credit Facility, Maximum Borrowing Capacity					$ 50,000					90,000
Line of Credit Facility, Current Borrowing Capacity										$ 15,000
Line of Credit Facility, Expiration Date		Jun. 19, 2017	Jun. 19, 2017
Rabobank Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Amount Outstanding								$ 4,208	€ 4,000
Rabobank International [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Amount Outstanding	300,000
Line of Credit Facility, Maximum Borrowing Capacity	150,000
Line of Credit Facility, Remaining Borrowing Capacity	75,000
Line of Credit Facility, Increase (Decrease), Other, Net	$ 75,000

Convertible Subordinated Debt52

Convertible Subordinated Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Jun. 03, 2011
Debt Instrument [Line Items]
Equity value	$ 29,846	$ 36,811
Volatility	60.00%	70.00%
Risk free return	0.49%	1.60%
Dividend yield	2.87%	2.51%
Strike price	$ 3.79	$ 4.65

Convertible Subordinated Debt53

Convertible Subordinated Debt (Details Textual) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 01, 2016USD ($)$ / shares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 03, 2011USD ($)
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 3.762
Convertible Subordinated Debt	$ 4,000
Unrealized Gain (Loss) on Derivatives		$ 942	$ 1,792
Accounts Payable, Interest-bearing		962
Related Party Loan Monthly Installment Upon Disagreement		$ 216	586
Related Party Loan Interest Rate Basis Upon Disagreement		3.69%
Amortization Of Intangible Assets		$ 0	321
Investment Income, Interest		0	56
Derivative Liability	0
Repayments of Convertible Debt	$ 11,000	11,000
Pt Alumindo [Member]
Debt Instrument [Line Items]
Due from Affiliates		$ 10,000
Convertible Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period				10.00%
Debt Instrument, Convertible, Conversion Ratio	265.82
Derivative Liability, Fair Value, Amount Not Offset Against Collateral, Total	$ 2,829
Debt Instrument, Face Amount	$ 1			$ 12,000
Supply Agreement With Pt. Alumindo [Member]
Debt Instrument [Line Items]
Related Party Loan Monthly Installment			$ 278

Stock Options (Details)

Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stock Option [Line Items]
Options outstanding and exercisable Number of Shares, Begining Balance	50	400
Options canceled, Shares	0
Options exercised, Shares	0
Options repurchased, Shares		(350)
Options outstanding and exercisable Number of Shares, Ending Balance	50	50	400
Options available for grant under 2006 Plan at December 31, 2015	0
Options outstanding and exercisable Weighted Average Exercise Price, Begining Balance		$ 1.63
Options repurchased, Weighted Average Exercise Price	$ 1.47
Options outstanding and exercisable Weighted Average Exercise Price, Ending Balance	$ 1.63		$ 1.63
Options outstanding and exercisable Weighted Average Exercise Price Remaining Contratual term	2 years 8 months 16 days	3 years 8 months 19 days	4 years 8 months 23 days
Options outstanding and exercisable Aggregate Intrinisic Value	$ 258	$ 93	$ 1,258

Stock Options (Details Textual)

Stock Options (Details Textual) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	May 20, 2015	May 19, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	50		350	350
Payments for Stock Options	$ 0	$ 922
Excess tax benefit related to purchase of stock options		281
Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for Stock Options	$ 922
Excess tax benefit related to purchase of stock options		$ 281
2006 Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	559,000

TREASURY STOCK (Details Textual

TREASURY STOCK (Details Textual) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jul. 22, 2008
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			2,000
Treasury stock acquired	$ 549	$ 1,583
Repurchase One [Member]
Equity, Class of Treasury Stock [Line Items]
Treasury stock acquired	$ 5,766	5,766
Treasury Stock Shares Acquired Cost Method	1,843
Repurchase Two [Member]
Equity, Class of Treasury Stock [Line Items]
Treasury stock acquired	$ 549	$ 1,583
Treasury Stock Shares Acquired Cost Method	130	375

ACCUMULATED OTHER COMPREHENSI57

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, Foreign currency translation	$ (666)	$ (334)
Other comprehensive loss, Foreign Currency Translation	(7)	(332)
Ending balance, Foreign Currency Translation	$ (673)	$ (666)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
U.S.	$ 5,928	$ 3,259
Foreign	(811)	625
Income before income taxes	$ 5,117	$ 3,884

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Current
U.S. Federal	$ 361	$ 1,476
State and local	131	607
Foreign	69	225
Current Income Tax Expense (Benefit)	561	2,308
Deferred
U.S. Federal	975	(1,099)
State and local	280	(134)
Foreign	0	0
Deferred income taxes	1,255	(1,233)
Income Tax Expense (Benefit)	$ 1,816	$ 1,075

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Provision for taxes at statutory rate of 34%		$ 1,740	$ 1,321
State and local taxes, net of federal tax effect		301	312
Permanent differences	[1]	(240)	(426)
Provision for/(reversal of) prior year unrecognized tax benefits		2	(103)
Other		13	(29)
Income Tax Expense (Benefit)		$ 1,816	$ 1,075
[1]	Prinicipally related to the change in the value of derivative liability for the embedded conversion option

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred current tax assets
Allowance for doubtful accounts	$ 452	$ 447
Accrued expenses	196	478
Inventories	3,345	4,176
Derivative liability for embedded conversion option	0	82
Deferred current tax assets, Total	3,993	5,183
Deferred current tax liabilities
Unamortized debt discount	0	(82)
Deferred current tax liabilities, Total	0	(82)
Net deferred current tax assets	3,993	5,101
Deferred long-term tax liabilities
Property and Equipment	(155)	(8)
Deferred long-term tax liabilities, Total	(155)	(8)
Net deferred long-term tax assets/(liabilities)	(155)	(8)
Net deferred tax assets	$ 3,838	$ 5,093

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015
Income Taxes [Line Items]
Balance at January 1		$ 67	[1]	$ 170
Reductions from settlements or filings with state tax authorities		0		0
Reductions from lapse of statute of limitations		(3)		(20)
Settlements		0		0
Net increase for tax positions of prior years		6
Net (decrease) for tax positions of prior years				(83)
Balance at December 31	[1]	$ 70		$ 67
[1]	Liability included in income taxes payable in the consolidated balance sheets.

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Percentage Of Withholding Tax	5.00%
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	$ 27	$ 22
Unrecognized Tax Benefits, Value of Accrued Interest reversed	5	$ 44
MEXICO
Income Taxes [Line Items]
Undistributed Earnings of Foreign Subsidiaries	585
IMBALI
Income Taxes [Line Items]
Undistributed Earnings of Foreign Subsidiaries	$ 3,297

Employee Retirement Benefits (D

Employee Retirement Benefits (Details)	12 Months Ended
	Dec. 31, 2016
Year One [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	25.00%
Year Two [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	50.00%
Year Three [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	75.00%
Year Four [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%

Employee Retirement Benefits 65

Employee Retirement Benefits (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	2.00%
Condition For Forfeiture Of Non Vested Portion Of Matching Contribution	Employees who terminate prior to 100% vesting forfeit their non-vested portion of the Company’s matching contribution,
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 74	$ 75

Per Share Data (Details)

Per Share Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Numerator:
Net income	$ 3,301	$ 2,809
Add back of interest on convertible subordinated debt, net of taxes	283	680
Add back of amortization of discount on convertible subordinated debt, net of taxes	134	363
Adjustment for change in value of convertible note derivative, net of taxes	(859)	(1,569)
Numerator for diluted earnings per share	$ 2,859	$ 2,283
Denominator:
Weighted average shares outstanding-basic (in shares)	8,465	8,669
Dilutive effect of convertible subordinated debt (in shares)	1,218	2,902
Dilutive effect of stock options (in shares)	30	114
Weighted average shares outstanding-diluted (in shares)	9,713	11,685
Basic earnings per share (in dollars per share)	$ 0.39	$ 0.32
Diluted earnings per share (in dollars per share)	$ 0.29	$ 0.20

Dividends (Details Textual)

Dividends (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jan. 11, 2017	Oct. 07, 2016	Jul. 14, 2016	Dec. 30, 2016	Sep. 30, 2016	Jul. 22, 2016	Apr. 12, 2016	Mar. 23, 2016	Dec. 31, 2016	Dec. 31, 2015
Dividends Payable [Line Items]
Common Stock, Dividends, Per Share, Cash Paid			$ 0.04	$ 0.04	$ 0.04			$ 0.025
Payments of Dividends, Total		$ 339				$ 340	$ 212		$ 1,104	$ 1,101
Subsequent Event [Member]
Dividends Payable [Line Items]
Payments of Dividends, Total	$ 336

Business Segment and Geograph68

Business Segment and Geographic Area Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 458,864	$ 521,736
United States [Member]
Segment Reporting Information [Line Items]
Net sales	338,564	385,729
Latin America [Member]
Segment Reporting Information [Line Items]
Net sales	3,872	15,604
Canada [Member]
Segment Reporting Information [Line Items]
Net sales	37,211	42,522
Australia & New Zealand [Member]
Segment Reporting Information [Line Items]
Net sales	34,707	39,312
Europe [Member]
Segment Reporting Information [Line Items]
Net sales	$ 44,510	$ 38,569

Commitments and Contingencies69

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies [Line Items]
2,017	$ 353
2,018	361
2,019	368
2,020	361
2,021	358
Thereafter	1,119
Operating Leases, Future Minimum Payments Due	$ 2,920

Commitments and Contingencies70

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 41,243	$ 29,422
Operating Leases, Rent Expense	$ 421	$ 317

Subsequent Event (Details Textu

Subsequent Event (Details Textual) - Subsequent Event [Member] $ / shares in Units, $ in Millions	1 Months Ended
	Mar. 30, 2017USD ($)$ / shares
Subsequent Event [Line Items]
Business Acquisition, Share Price | $ / shares	$ 7
Business Combination, Consideration Transferred	$ 58
Obligation To Pay Break-Up Fee	$ 1