Helios (HLIO) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	SUN HYDRAULICS CORPORATION
Entity Central Index Key	1,024,795
Current Fiscal Year End Date	--12-29
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	SNHY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,621,114

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Current assets:
Cash and cash equivalents	$ 29,942	$ 63,882
Restricted cash	40	40
Accounts receivable, net of allowance for doubtful accounts of $631 and $358	74,344	37,503
Inventories, net	77,289	41,545
Income taxes receivable	592
Other current assets	8,882	3,806
Total current assets	191,089	146,776
Property, plant and equipment, net	114,428	91,931
Deferred income taxes	7,940	4,654
Goodwill	345,997	108,869
Other intangibles, net	328,921	104,131
Other assets	3,977	3,405
Total assets	992,352	459,766
Current liabilities:
Accounts payable	39,136	15,469
Accrued expenses	21,856	8,977
Current portion of contingent consideration	34,535	17,102
Current portion of long-term debt, net	3,505
Dividends payable	2,845	2,437
Income taxes payable	3,064	1,878
Other current liabilities	2,320
Total current liabilities	107,261	45,863
Revolving line of credit	256,750	116,000
Long-term debt, net	94,972
Contingent consideration, less current portion		16,780
Deferred income taxes	20,817	2,068
Other noncurrent liabilities	9,157	6,382
Total liabilities	488,957	187,093
Commitments and contingencies
Shareholders' equity:
Preferred stock, 2,000,000 shares authorized, par value $0.001, no shares outstanding
Common stock, 50,000,000 shares authorized, par value $0.001, 31,604,459 and 27,077,145 shares outstanding	32	27
Capital in excess of par value	337,772	95,354
Retained earnings	196,787	183,770
Accumulated other comprehensive loss	(31,196)	(6,478)
Total shareholders' equity	503,395	272,673
Total liabilities and shareholders' equity	$ 992,352	$ 459,766

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts, accounts receivable	$ 631	$ 358
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	31,604,459	27,077,145
Common stock, shares outstanding	31,604,459	27,077,145

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Income Statement [Abstract]
Net sales	$ 136,168	$ 89,335	$ 233,486	$ 170,688
Cost of sales	85,764	50,752	145,465	99,311
Gross profit	50,404	38,583	88,021	71,377
Selling, engineering and administrative expenses	25,325	15,843	43,640	30,544
Amortization of intangible assets	8,076	2,039	10,124	4,348
Operating income	17,003	20,701	34,257	36,485
Interest expense, net	4,151	964	4,634	1,589
Foreign currency transaction loss (gain), net	3,301	7	3,812	(40)
Miscellaneous expense, net	80	635	44	702
Change in fair value of contingent consideration	251	8,191	653	8,191
Income before income taxes	9,220	10,904	25,114	26,043
Income tax provision	2,424	3,620	6,407	8,548
Net income	$ 6,796	$ 7,284	$ 18,707	$ 17,495
Basic and diluted net income per common share	$ 0.22	$ 0.27	$ 0.61	$ 0.65
Basic and diluted weighted average shares outstanding	31,597	27,046	30,718	26,996
Dividends declared per share	$ 0.09	$ 0.09	$ 0.18	$ 0.20

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 6,796	$ 7,284	$ 18,707	$ 17,495
Other comprehensive income
Foreign currency translation adjustments	(27,214)	3,240	(24,718)	5,191
Unrealized (loss) gain on available-for-sale securities		(7)		122
Total other comprehensive (loss) income	(27,214)	3,233	(24,718)	5,313
Comprehensive (loss) income	$ (20,418)	$ 10,517	$ (6,011)	$ 22,808

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Capital in excess of par value	Retained earnings	Accumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2016					$ (15,833)
Net income	$ 17,495
Other comprehensive loss	5,313
Ending Balance at Jul. 01, 2017					(10,520)
Beginning Balance at Dec. 30, 2017	272,673	$ 27	$ 95,354	$ 183,770	(6,478)
Beginning Balance, Shares at Dec. 30, 2017		27,077
Shares issued, Restricted Stock, Shares		103
Shares issued, other compensation, Shares		12
Shares issued, ESPP	809		809
Shares issued, ESPP, Shares		17
Shares issued, public offering	239,793	$ 5	239,788
Shares issued, public offering, Shares		4,400
Stock-based compensation	2,061		2,061
Cancellation of shares for payment of employee tax withholding	(240)		(240)
Cancellation of shares for payment of employee tax withholding, Shares		(5)
Dividends declared	(5,690)			(5,690)
Net income	18,707			18,707
Other comprehensive loss	(24,718)				(24,718)
Ending Balance at Jun. 30, 2018	$ 503,395	$ 32	$ 337,772	$ 196,787	$ (31,196)
Ending Balance, Shares at Jun. 30, 2018		31,604

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Cash flows from operating activities:
Net income	$ 18,707	$ 17,495
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,076	9,855
Loss on disposal of assets	8	692
Stock-based compensation expense	2,061	2,038
Amortization of debt issuance costs	371	202
Benefit for deferred income taxes		(3,229)
Amortization of acquisition related inventory step-up	3,125	1,774
Change in fair value of contingent consideration	653	8,191
Forward contract losses, net	3,493
Other, net	196	227
(Increase) decrease in, net of acquisition:
Accounts receivable	(13,666)	(14,191)
Inventories	(4,754)	(10,120)
Income taxes receivable	(46)	512
Other current assets	(501)	(303)
Other assets	270	98
Increase (decrease) in, net of acquisition:
Accounts payable	5,908	5,796
Accrued expenses and other liabilities	1,660	1,145
Income taxes payable	(3,405)	1,207
Other noncurrent liabilities	(39)	295
Net cash provided by operating activities	31,117	21,684
Cash flows from investing activities:
Capital expenditures	(10,581)	(3,305)
Proceeds from dispositions of equipment	3	18
Proceeds from sale of short-term investments		2,938
Acquisition of business, net of cash acquired	(527,144)
Cash settlement of forward contract	(2,535)
Net cash used in investing activities	(540,257)	(349)
Cash flows from financing activities:
Borrowings on revolving credit facility	258,000
Repayment of borrowings on revolving credit facility	(117,250)	(16,000)
Borrowings on long-term debt	100,932
Repayment of borrowings on long-term debt	(1,250)
Borrowings under factoring arrangements	1,044
Payments on capital lease obligations	(330)
Proceeds from stock issued	240,602	465
Dividends to shareholders	(5,281)	(5,390)
Debt issuance costs	(1,763)
Payment of employee tax withholding	(240)
Net cash provided by (used in) financing activities	474,464	(20,925)
Effect of exchange rate changes on cash and cash equivalents	736	4,042
Net (decrease) increase in cash and cash equivalents	(33,940)	4,452
Cash and cash equivalents, beginning of period	63,882	74,221
Cash and cash equivalents, end of period	29,942	78,673
Cash paid:
Income taxes	9,208	9,506
Interest	$ 3,405	1,926
Supplemental disclosure of noncash transactions:
Common stock issued for shared distribution through accrued expenses and other liabilities		628
Unrealized gain on available for sale securities		122
Measurement period adjustment to goodwill and contingent consideration		$ 6,314

Company Background

Company Background	6 Months Ended
	Jun. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
COMPANY BACKGROUND	1. COMPANY BACKGROUND Sun Hydraulics Corporation, doing business as Helios Technologies (“Helios” or the “Company”), and its wholly-owned subsidiaries, is an industrial technology leader that develops and manufactures solutions for both the hydraulics and electronics markets. On August 6, 2018, the Company announced that it had adopted Helios Technologies as its business name. Sun Hydraulics, LLC, a newly-formed Florida limited liability company that holds the historical net operating assets of the Sun Hydraulics brand entities, along with the previously acquired Enovation Controls, LLC and Faster S.p.A. are the wholly-owned operating subsidiaries of Helios Technologies under the new holding company name. The Company operates in two business segments, Hydraulics and Electronics. The Hydraulics segment consists of the global Sun Hydraulics companies (“Sun Hydraulics” or “Sun”) and Faster S.p.A (“Faster”), acquired in the second quarter of this fiscal year. Sun Hydraulics serves the hydraulics market as a leading manufacturer of high-performance screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets. Faster serves the hydraulics market as a leading global manufacturer of quick release hydraulic coupling solutions focused in the agriculture, construction equipment and industrial markets. The Electronics segment, which consists of Enovation Controls, LLC (“Enovation Controls”), is a global provider of innovative electronic control, display and instrumentation solutions for both recreational and off-highway vehicles, as well as stationary and power generation equipment. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q. Accordingly, certain information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements are not included herein. The financial statements are prepared on a consistent basis (including normal recurring adjustments) and should be read in conjunction with the consolidated financial statements and related notes contained in the Annual Report on Form 10-K for the fiscal year ended December 30, 2017, filed by Sun Hydraulics Corporation with the Securities and Exchange Commission on February 27, 2018. In Management’s opinion, all adjustments necessary for a fair presentation of the Company’s financial statements are reflected in the interim periods presented. Operating results for the six month period ended June 30, 2018, are not necessarily indicative of the results that may be expected for the period ending December 29, 2018.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Revenue recognition is evaluated through the following five steps: 1) identification of the contracts with customers; 2) identification of the performance obligations in the contracts; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue as or when performance obligations are satisfied. The Company disaggregates revenue by segment as well as by geographic destination of the sale. See disaggregated revenue balances in Note 12, Segment Reporting. The Company’s contracts with customers are generally similar in nature and terms. The Company’s contracts with its customers are for product sales under standard ship and bill arrangements. The contracts have a single distinct performance obligation for the sale of product and are short term in nature. Revenue is recognized at a point in time when control is transferred to customers, typically upon shipment to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods. Accounts receivable balances are recorded upon recognition of revenue until payment is collected from the customers. Contracts do not have significant financing components and payment terms do not exceed one year from the date of the sale. The Company does not incur significant credit losses from contracts with customers. Consideration is primarily fixed in nature with insignificant amounts recognized related to sales discounts, rebates and product returns. The Company’s estimates for sales discounts, rebates and product returns reduce revenue recognized at the time of the sale. The Company’s warranties provide assurance that products will function as intended. Estimated costs of product warranties are recognized at the time of the sale. Foreign Exchange Currency Contracts The Company enters into foreign exchange currency contracts that are not designated as hedging instruments for accounting purposes. Changes in fair value of foreign exchange currency contracts not designated as hedging instruments are reported in net income as part of foreign currency transaction loss (gain), net. Accounts Receivable, net Accounts receivable are stated at amounts owed by customers, net of an allowance for estimated doubtful accounts. The allowance for doubtful accounts is determined on a specific identification basis by a review of those accounts that are significantly in arrears. Account balances are charged against the allowance when it is probable the receivable will not be recovered. See the consolidated balance sheets for the allowance amounts. The Company has a factoring agreement with a third party financial institution to sell the rights, with recourse, to accounts receivable balances due from a specific customer. Under the terms of the agreement, the Company may receive advances in amounts up to €1,000,000 based on the amounts invoiced to the customer. The Company maintains the collectability risk of all outstanding balances; therefore, customer balances are included in accounts receivable, including any allowance for risk of collectability, and amounts due to the financial institution are included in other current liabilities in the Consolidated Balance Sheet. Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment. In February 2016, the FASB issued ASU 2016-02, Leases Earnings Per Share The following table represents the computation of basic and diluted earnings per common share (in thousands except per share data): Three Months Ended Six Months Ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net income $ 6,796 $ 7,284 $ 18,707 $ 17,495 Basic and diluted weighted average shares outstanding 31,597 27,046 30,718 26,996 Basic and diluted net income per common share $ 0.22 $ 0.27 $ 0.61 $ 0.65

Business Acquisition

Business Acquisition	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
BUSINESS ACQUISITION	3. BUSINESS ACQUISITION On April 5, 2018 the (“Acquisition Date”), the Company completed the acquisition of Faster S.p.A, a worldwide leader in engineering, manufacturing, marketing and distribution of quick release hydraulic coupling solutions headquartered in Milan, Italy. Pursuant to the Share Purchase Agreement, the Company acquired all of the outstanding equity interests of Polyusus Lux IV S.a.r.l., a Luxembourg limited liability company and the owner of 100% of the share capital of Faster S.p.A. The acquisition was completed for cash consideration totaling $532,408 ($527,144 net of cash acquired) and was financed with cash on hand from the Company’s registered public stock offering and borrowings of $358,000 on its credit facility, as discussed in further detail in Note 7 and Note 8. Faster adds adjacent hydraulics products to the Company’s portfolio of products and broadens end market reach, increasing the Company’s presence in the growing agriculture market. The results of Faster’s operations have been included in the consolidated financial statements since the Acquisition Date. The Share Purchase Agreement allows for future payments to the sellers for certain tax benefits realized within two years of the Acquisition Date. The realization of any future tax benefit was determined to be uncertain and no value has been assigned to this potential future liability as of the Acquisition Date and June 30, 2018. The purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The fair value of identifiable intangible assets acquired was based on estimates and assumptions made by management at the time of the acquisition. As additional information becomes available, as of the acquisition date, management will finalize its analysis of the estimated fair value of the identified intangible assets and tax related items including the evaluation of deductibility of goodwill, valuation of deferred taxes and the potential liability to the sellers for future tax benefits. As management completes its evaluation, the preliminary purchase price allocation may be revised during the remainder of the measurement period (which will not exceed 12 months from the Acquisition Date). Any such revisions or changes to the fair values of the tangible and intangible assets acquired and liabilities assumed may be material. The preliminary allocation of the total purchase price, net of cash acquired, is as follows: Accounts receivable $ 24,638 Inventories 35,882 Other current assets 6,488 Property, plant and equipment 20,242 Goodwill 248,913 Intangible assets 246,371 Other assets 4,622 Total assets acquired 587,156 Accounts payable (18,668 ) Accrued expenses (11,740 ) Incomes taxes payable (4,862 ) Other current liabilities (1,289 ) Other noncurrent liabilities (23,453 ) Total liabilities assumed (60,012 ) Fair value of net assets acquired $ 527,144 Goodwill is primarily attributable to Faster’s assembled workforce and anticipated synergies and economies of scale expected from the operations of the combined company. The synergies include certain cost savings, operating efficiencies, and other strategic benefits projected to be achieved as a result of the acquisition. Transaction costs of $4,271 incurred in connection with the acquisition are included in selling, engineering and administrative expenses in the Consolidated Statement of Operations for the six months ended June 30, 2018. Net sales and loss before income taxes of Faster included in the Consolidated Statement of Operations for the period from the Acquisition Date through June 30, 2018 totaled $38,747 and $1,454, respectively. Included in Faster’s loss for the period are $3,125 of charges related to the purchase accounting effects of inventory step up to fair value and $6,027 of amortization of acquisition related intangibles assets. Intangible Assets The preliminary fair value of identified intangible assets and their respective useful lives are as follows: Fair Value Weighted- Average Amortization Periods (Yrs) Trade name $ 25,740 18 Technology 13,483 13 Customer relationships 201,019 26 Sales order backlog 6,129 0.4 Identified intangible assets $ 246,371 24 Unaudited Pro Forma Information The following unaudited pro forma financial information presents combined results of operations for each of the periods presented, as if Faster had been acquired as of the beginning of 2017. The pro forma information includes adjustments to amortization and depreciation for intangible assets and property, plant and equipment and interest expense from borrowings to fund the acquisition. Non-recurring pro forma adjustments directly attributable to the acquisition included in the pro forma information presented below include the purchase accounting effect of inventory step up to fair value of $3,125, transaction costs totaling $4,271, amortization of sales order backlog intangible asset totaling $3,633, accelerated amortization of Faster pre-acquisition loan costs of $2,328 and loss on forward contract entered into in connection with the acquisition totaling $2,535. The pro forma information does not reflect any operating efficiencies or potential cost savings that may result from the acquisition. Accordingly, the pro forma information is for illustrative purposes only and is not intended to present or be indicative of the actual results of operations of the combined company that may have been achieved had the acquisition actually occurred at the beginning of 2017, nor is it intended to represent or be indicative of future results of operations of the combined business. Consequently, actual results will differ from the unaudited pro forma information presented below: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales $ 136,168 $ 120,305 $ 274,426 $ 231,762 Operating income 26,972 24,861 52,954 45,218 Net income 15,600 9,105 30,474 20,702 Basic and diluted net income per common share 0.49 0.29 0.97 0.66

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	4. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company applies fair value accounting guidelines for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Under these guidelines, fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability (i.e. an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3 - Unobservable inputs that are supported by little, infrequent, or no market activity and reflect the Company’s own assumptions about inputs used in pricing the asset or liability. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value of the Company’s cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued expenses and other current liabilities approximate their carrying value, due to their short-term nature. Contingent consideration and newly acquired intangible assets are measured at fair value using level 3 inputs. Forward foreign exchange contracts are measured at fair value based on quoted foreign exchange forward rates at the reporting date. The following tables provide information regarding the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2018 and December 30, 2017. June 30, 2018 Quoted Market Significant Other Observable Significant Unobservable Total Prices (Level 1) Inputs (Level 2) Inputs (Level 3) Assets Forward foreign exchange contracts $ 120 $ — $ 120 $ — Total $ 120 $ — $ 120 $ — Liabilities Forward foreign exchange contracts $ 167 $ — $ 167 $ — Contingent consideration 34,535 — — 34,535 Total $ 34,702 $ — $ 167 $ 34,535 December 30, 2017 Quoted Market Significant Other Observable Significant Unobservable Total Prices (Level 1) Inputs (Level 2) Inputs (Level 3) Liabilities Contingent consideration $ 33,882 $ — $ — $ 33,882 Total $ 33,882 $ — $ — $ 33,882 Forward foreign exchange contracts The Company’s forward contracts are not designated as hedging instruments for accounting purposes. During the six months ended June 30, 2018, the Company entered into a forward foreign exchange currency contract, for the purchase of €370,000, to economically hedge transactional exposure associated with the acquisition of Faster, which was denominated in euros. The Company recognized a loss during the six months ended June 30, 2018, of $2,535, which was reported in foreign currency loss (gain), net for the period. At June 30, 2018, the Company had forward foreign exchange contracts to buy euros with a notional amount of $10,050. These contracts are at various exchange rates and expire at various dates through February 2019. The fair value of the derivative instruments are included in other current assets and other current liabilities line items in the Consolidated Balance Sheet. The Company recognized a net loss on these contracts during the quarter ended June 30, 2018, of $958, which was reported in foreign currency loss (gain), net for the period. Contingent consideration A summary of the changes in the estimated fair value of contingent consideration related to the acquisition of Enovation Controls at June 30, 2018 is as follows: Balance at December 30, 2017 $ 33,882 Change in estimated fair value 149 Accretion in value 504 Balance at June 30, 2018 $ 34,535 The fair value of the contingent consideration arrangement was estimated using a risk-adjusted probability analysis. During the six months ended June 30, 2018, adjustments to the fair value of contingent consideration were recorded based on Enovation Controls’ results of operations during the period and management’s revision of revenue and EBITDA forecasts.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
INVENTORIES	5. INVENTORIES June 30, 2018 December 30, 2017 Raw materials $ 30,369 $ 26,426 Work in process 33,874 6,910 Finished goods 15,647 9,920 Provision for slow moving inventory (2,601 ) (1,711 ) Total $ 77,289 $ 41,545

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	6. GOODWILL AND INTANGIBLE ASSETS A summary of changes in goodwill at June 30, 2018, is as follows: Hydraulics Electronics Total Balance at December 30, 2017 $ 2,496 $ 106,373 $ 108,869 Acquisition 248,913 — 248,913 Currency translation (11,785 ) — (11,785 ) Balance at June 30, 2018 $ 239,624 $ 106,373 $ 345,997 Goodwill is tested for impairment annually, in the third and fourth quarters, or more frequently if events or changes in circumstances indicate that goodwill might be impaired. Valuation models reflecting the expected future cash flow projections are used to value reporting units. At June 30, 2018, and December 30, 2017, intangible assets consisted of the following: June 30, 2018 December 30, 2017 Gross carrying amount Accumulated amortization Net amount Gross amount Accumulated amortization Net amount Definite-lived intangibles: Trade name and brands $ 55,285 $ (3,213 ) $ 52,072 $ 30,774 $ (2,115 ) $ 28,659 Non-compete agreements 950 (301 ) 649 950 (206 ) 744 Technology 31,217 (3,890 ) 27,327 18,435 (2,671 ) 15,764 Supply agreement 21,000 (3,325 ) 17,675 21,000 (2,275 ) 18,725 Sales order backlog 5,840 (3,553 ) 2,287 — — — Customer relationships 231,313 (5,377 ) 225,936 39,751 (2,607 ) 37,144 Licensing agreement 3,716 (741 ) 2,975 3,716 (621 ) 3,095 $ 349,321 $ (20,400 ) $ 328,921 $ 114,626 $ (10,495 ) $ 104,131 Amortization expense of intangible assets for the six months ended June 30, 2018, and July 1, 2017, was $10,124 and $4,348, respectively. The remaining amortization for 2018 is approximately $11,334. Total estimated amortization expense of intangible assets for the years 2019 through 2023 is presented below. Year: 2019 $ 17,913 2020 17,880 2021 17,779 2022 17,516 2023 17,457 Total $ 88,545

Credit Facilities

Credit Facilities	6 Months Ended
	Jun. 30, 2018
Long Term Debt [Abstract]
CREDIT FACILITIES	7. CREDIT FACILITIES On April 1, 2018, the Company entered into an amendment to its credit agreement with PNC Bank, National Association, as administrative agent, and the lenders party thereto. The amendment increased the revolving credit facility up to an aggregate maximum principal amount of $ 400,000 The amendment was entered into contemporaneously with the transfer of substantially all of the Company’s historical net operating assets of the Sun Hydraulics brand entities to the Company’s wholly-owned subsidiary, Sun Hydraulics, LLC, a newly-formed Florida limited liability company, and in preparation for the acquisition of Faster. Sun Hydraulics, LLC was added as an additional guarantor of the amended facility. In addition, Sun Hydraulics, LLC joined the existing Security Agreement between the Company, Enovation Controls and the Bank, for the benefit of the lenders, granting a security interest in substantially all of their respective assets. The Faster acquisition was completed on April 5, 2018, at which time the Company borrowed $258,000 on the revolving credit facility and executed the term loan. On June 30, 2018, the balance of the term loan was $97,580, net of unamortized debt issuance costs. At June 30, 2018, and December 30, 2017, the balance on the revolving line was $256,750 and $116,000, respectively, with $143,250 and $184,000 of additional credit available, respectively, subject to pro forma compliance with debt covenants. The interest rate in effect at June 30, 2018 was 4.01%. Interest expense recognized during the six months ended June 30, 2018 and July 1, 2017, totaled $ 4,534 and $1,778, respectively. On March 30, 2018, the Company entered into a credit agreement with Shinhan Bank that provides a term loan of 1,000,000 March 2020 897 2.05%

Public Stock Offering

Public Stock Offering	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
PUBLIC STOCK OFFERING	8. PUBLIC STOCK OFFERING On February 6, 2018, the Company completed a public offering of its common stock, pursuant to which the Company sold 4,400,000 shares at a public offering price of $57.50 per share. The Company received net proceeds from the sale totaling $239,793, after deducting the underwriting discount and other offering expenses. The Company used the net proceeds for the repayment of debt under its credit facility and to partially fund the acquisition of Faster, S.p.A., which closed on April 5, 2018.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES At June 30, 2018, the Company had an unrecognized tax benefit of $4,789 including accrued interest. If recognized, the unrecognized tax benefit would have a favorable effect on the effective tax rate in future periods. The Company recognizes interest and penalties related to income tax matters in income tax expense. Interest accrued as of June 30, 2018 is not considered material to the Company’s consolidated financial statements. The Company files U.S. federal income tax returns as well as income tax returns in various states and foreign jurisdictions. The Company is no longer subject to income tax examinations by tax authorities for years prior to 2007 for the majority of tax jurisdictions where the Company files tax returns. The Company’s federal returns are currently under examination by the Internal Revenue Service (IRS) in the United States for the periods 2007 through 2012. To date, there have not been any significant proposed adjustments that have not been accounted for in the Company’s consolidated financial statements. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. It is reasonably possible that within the next twelve months the Company will resolve some or all of the matters presently under consideration for 2007 through 2012 with the IRS and there could be significant increases or decreases to unrecognized tax benefits. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law making significant changes to the Internal Revenue Code. Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of US GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Act. In accordance with SAB 118, management calculated its best estimate of the impact of the Act in the 2017 year-end income tax provision in accordance with their understanding of the Act and available guidance. Also pursuant to SAB 118, certain additional impacts of the Act remain open during the measurement period to include other indirect correlative impacts of the Act, the Company’s position with regard to its permanent reinvestment assertion, the state tax impacts of the Act as well as the Company’s position as to whether to account for global intangible low-taxed income (GILTI) as a period cost or via deferred tax accounting. As of the close of the second quarter, the Company is still analyzing the Act in its entirety and refining its calculations, which could potentially impact the measurement of tax balances. Any subsequent adjustment to these amounts will be recorded to tax expense in the quarter of 2018 when the analysis is complete.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Share Based Compensation [Abstract]
STOCK-BASED COMPENSATION	10. STOCK-BASED COMPENSATION The Company’s 2011 Equity Incentive Plan (“2011 Plan”) provides for the grant of up to an aggregate of 1,000,000 shares of restricted stock, restricted share units, stock appreciation rights, dividend or dividend equivalent rights, stock awards and other awards valued in whole or in part by reference to or otherwise based on the Company’s common stock, to officers, employees and directors of the Company. The 2011 Plan was approved by the Company’s shareholders at the 2012 Annual Meeting. At June 30, 2018, 358,038 shares remained available to be issued under the 2011 Plan. Compensation cost is measured at the date of the grant and is recognized in earnings over the period in which the shares vest. Restricted stock expense for the six months ended June 30, 2018, and July 1, 2017, totaled $1,279 and $1,397, respectively. The following table summarizes restricted stock activity from December 30, 2017 through June 30, 2018: Weighted average Number of shares grant-date (in thousands) fair value Nonvested balance at December 30, 2017 88 $ 34.44 Granted 105 53.64 Vested (24 ) 35.45 Forfeitures (6 ) 37.29 Nonvested balance at June 30, 2018 163 $ 46.57 The Company had $6,270 of total unrecognized compensation cost related to restricted stock awards granted under the 2011 Plan as of June 30, 2018. That cost is expected to be recognized over a weighted average period of 2.00 years. The Company maintains an Employee Stock Purchase Plan (“ESPP”) in which Sun Hydraulics’ and Enovation Controls’ US employees are eligible to participate. Employees in the United States who choose to participate are granted an opportunity to purchase common stock at 85 percent of market value on the first or last day of the quarterly purchase period, whichever is lower. Employees in the United Kingdom, under a separate plan, are granted an opportunity to purchase the Company’s common stock at market value, on the first or last day of the quarterly purchase period, whichever is lower, with the Company issuing one additional free share of common stock for each six shares purchased by the employee under the plan. The ESPP and U.K. plans authorize the issuance, and the purchase by employees, of up to 1,096,875 shares of common stock through payroll deductions. No U.S. employee is permitted to buy more than $25 of common stock in any year, based on the market value of the common stock at the beginning of the purchase period, and no U.K. employee is allowed to buy more than the lesser of £1.5 or 10% of his or her annual salary in any year. Employees purchased 18,728 shares at a weighted average price of $43.24, and 15,090 shares at a weighted average price of $30.90, under the ESPP and U.K. plans during the six months ended June 30, 2018, and July 1, 2017, respectively. The Company recognized $138 and $131 of compensation expense during the six months ended June 30, 2018, and July 1, 2017, respectively. At June 30, 2018, 527,581 shares remained available to be issued through the ESPP and the U.K. plan. In March 2012, the Board of Directors adopted the Sun Hydraulics Corporation 2012 Nonemployee Director Fees Plan (the “2012 Directors Plan”), which was approved by the shareholders of the Company at the 2012 Annual Meeting. Under the 2012 Directors Plan, Nonemployee Directors are compensated for their Board service solely in shares of common stock. In February 2015, the Board adopted amendments to the 2012 Directors Plan, which revised the compensation for Nonemployee Directors. Each Nonemployee Director now receives an annual retainer of 2,000 shares of common stock. The Chairman’s retainer is twice that of a regular director, and the retainer for the chairs of each Board Committee is 150% that of a regular director. In addition, each Nonemployee Director receives 250 shares of common stock for attendance at each Board meeting and each meeting of each committee of the Board on which he or she serves when the committee meeting is not held within one day of a meeting of the Board. In June 2015, the Company's shareholders approved the amendments to the 2012 Directors Plan. The Board has the authority to change from time to time, in any manner it deems desirable or appropriate, the share compensation to be awarded to all or any one or more Nonemployee Directors under the 2012 Directors Plan, provided that, with limited exceptions, such changes are subject to prior shareholder approval. The aggregate number of shares which may be issued during any single calendar year is limited to 35,000 shares. The 2012 Directors Plan authorizes the issuance of up to 270,000 shares of common stock. At June 30, 2018, 136,374 shares remained available for issuance under the 2012 Directors Plan. Directors were granted 12,500 and 12,750 shares for the six months ended June 30, 2018 and July 1, 2017, respectively. The Company recognized director stock compensation expense of $660 and $501 for the six months ended June 30, 2018 and July 1, 2017, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2018
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	11. ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in Accumulated Other Comprehensive Loss by Component Unrealized Gains and Losses on Available-for- Sale Securities Foreign Currency Items Total Balance at December 30, 2017 $ — $ (6,478 ) $ (6,478 ) Other comprehensive loss before reclassifications — (24,718 ) (24,718 ) Amounts reclassified from accumulated other comprehensive loss — — — Net current period other comprehensive income — (24,718 ) (24,718 ) Balance at June 30, 2018 $ — $ (31,196 ) $ (31,196 ) Unrealized Gains and Losses on Available-for- Sale Securities Foreign Currency Items Total Balance at December 31, 2016 $ (391 ) $ (15,442 ) $ (15,833 ) Other comprehensive (loss) income before reclassifications (41 ) 5,191 5,150 Amounts reclassified from accumulated other comprehensive loss 163 — 163 Net current period other comprehensive income 122 5,191 5,313 Balance at July 1, 2017 $ (269 ) $ (10,251 ) $ (10,520 ) Reclassifications out of Accumulated Other Comprehensive Loss Details about Accumulated Other Affected Line Item in the Six months ended Comprehensive Income Components Consolidated Statement of Operations June 30, 2018 July 1, 2017 Unrealized gains and losses on available-for-sale securities Realized gain/(loss) on sale of securities Miscellaneous expense, net $ — $ (39 ) Other than temporary impairment Miscellaneous expense, net — (220 ) Total before tax — (259 ) Tax benefit — 96 Net of tax — (163 ) Total reclassifications for the period $ — $ (163 )

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	12. SEGMENT REPORTING The Company has two reportable business segments: Hydraulics and Electronics. These segments are organized primarily based on the similar nature of products offered for sale, the types of customers served and the methods of distribution and are consistent with how the segments are managed, how resources are allocated and how information is used by the chief operating decision makers. The Company evaluates performance and allocates resources based primarily on segment operating income. Certain costs were not allocated to the business segments as they are not used in evaluating the results of, or in allocating resources to the Company’s segments. These costs are presented in the Corporate and other line item below. For the six months ended June 30, 2018, the unallocated costs included certain corporate costs not deemed to be allocable to either business segment of $826 and acquisition related costs including Faster transaction costs of $4,271, charges related to inventory step-up to fair value of $3,125 and amortization of acquisition-related intangible assets of $10,004. The accounting policies of the Company’s business segments are the same as those used to prepare the accompanying consolidated financial statements. The following table presents financial information by reportable segment: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales Hydraulics $ 103,634 $ 60,818 $ 166,243 $ 114,940 Electronics 32,534 28,517 67,243 55,748 $ 136,168 $ 89,335 $ 233,486 $ 170,688 Operating income Hydraulics $ 25,401 $ 16,359 $ 38,844 $ 30,131 Electronics 6,532 6,419 13,639 12,655 Corporate and other (14,930 ) (2,077 ) (18,226 ) (6,301 ) $ 17,003 $ 20,701 $ 34,257 $ 36,485 Capital expenditures Hydraulics $ 6,172 $ 1,465 $ 10,149 $ 2,076 Electronics 172 1,082 432 1,229 $ 6,344 $ 2,547 $ 10,581 $ 3,305 June 30, 2018 December 30, 2017 Total assets Hydraulics $ 722,221 $ 185,300 Electronics 267,884 274,466 Corporate 2,247 — Total $ 992,352 $ 459,766 Geographic Region Information Net sales are measured based on the geographic destination of sales. Tangible long-lived assets are shown based on the physical location of the assets and primarily include net property, plant and equipment: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales Americas $ 67,553 $ 52,705 $ 124,024 $ 99,993 Europe/Middle East/Africa 43,233 19,229 65,584 39,329 Asia/Pacific 25,382 17,401 43,878 31,366 Total $ 136,168 $ 89,335 $ 233,486 $ 170,688 June 30, 2018 December 30, 2017 Tangible long-lived assets Americas $ 79,188 $ 78,429 Europe/Middle East/Africa 25,359 7,803 Asia/Pacific 9,881 5,699 Total $ 114,428 $ 91,931

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	13. RELATED PARTY TRANSACTIONS Enovation Controls purchases and sells inventory to an entity partially owned by one of its officers. For the six months ended June 30, 2018, and July 1, 2017, inventory sales to the entity totaled $1,525 and $1,299, respectively, and inventory purchases from the entity totaled $1,751 and $5,805, respectively. In addition to these inventory transactions, Enovation Controls entered into a transition service agreement with the related party to provide, and receive, certain transition services for a period of up to one year for specified services. For the six months ended June 30, 2018, and July 1, 2017, sales recognized under the agreement were $39 and $1,217, respectively, and related costs incurred, under the agreement totaled $39 and $968, respectively, and are included in miscellaneous expense, net in the Consolidated Statements of Operations. For the six months ended June 30, 2018, and July 1, 2017, purchases from the related party under the agreement totaled $22 and $856, respectively. At June 30, 2018, and July 1, 2017, total amounts due from the entity totaled $194 and $786, respectively, and total amounts due to the entity totaled $731 and $915, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is not a party to any legal proceedings other than routine litigation incidental to its business. In the opinion of management, the amount of ultimate liability with respect to these actions will not materially affect the results of operations, financial position or cash flows of the Company. Purchase Commitments During the second quarter, the Company entered into long term agreements with multiple suppliers. These agreements include purchase commitments for minimum quantities of inventory used by the Company in the normal course of business. As of June 30, 2018, the Company had total purchase commitments with suppliers of $33,192, which are expected to be fulfilled during fiscal years 2018 through 2020.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Payment on contingent consideration liability During July 2018, in accordance with the contingent consideration arrangement for the acquisition of Enovation Controls, the Company made the second cash payment to Enovation Controls’ former owners totaling $17,342. Acquisition of Custom Fluidpower Pty Ltd On August 1, 2018, the Company acquired all of the outstanding equity interests of Custom Fluidpower Pty Ltd (“Custom Fluidpower”), an Australian proprietary limited liability company. The acquisition was completed pursuant to a Share Sale Agreement among the Company and the shareholders of Custom Fluidpower. Consideration paid at closing totaled 35,000 Australian dollars, approximately $25,906, and included 333,065 shares of the Company’s common stock and cash of approximately 12,574 Australian dollars, approximately $9,307. The cash consideration was funded with borrowings on the Company’s credit facility. Custom Fluidpower is a leading provider of hydraulic, pneumatic, electronic and instrumentation solutions. The company supplies hydraulic, pneumatic, filtration and lubrication products and offer complete system design, installation and commissioning, and service and repairs, to a broad range of industries including agriculture, aerospace, exploration, industrial, marine, mobile, mining and material handling. Headquartered in Newcastle, NSW, Australia, Custom Fluidpower has operational branches co-located with its headquarters as well as throughout Australia including Brisbane, QLD; Gladstone, QLD; Mackay, QLD; Perth, WA; Port Hedland, WA; and Singleton, NSW. Additionally, the company has a sales office in Melbourne, VIC. The acquisition of Custom Fluidpower is in alignment with Helios’ Vision 2025 goals, advancing the Company as a global technology leader in the industrial goods sector while maintaining superior profitability and financial strength. Custom Fluidpower further diversifies the Company’s hydraulics product and service portfolio and broadens the Company’s global footprint. The Company determined the acquisition of Custom Fluidpower was not a significant acquisition under Rule 3-05 of Regulation S-X.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Revenue recognition is evaluated through the following five steps: 1) identification of the contracts with customers; 2) identification of the performance obligations in the contracts; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue as or when performance obligations are satisfied. The Company disaggregates revenue by segment as well as by geographic destination of the sale. See disaggregated revenue balances in Note 12, Segment Reporting. The Company’s contracts with customers are generally similar in nature and terms. The Company’s contracts with its customers are for product sales under standard ship and bill arrangements. The contracts have a single distinct performance obligation for the sale of product and are short term in nature. Revenue is recognized at a point in time when control is transferred to customers, typically upon shipment to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods. Accounts receivable balances are recorded upon recognition of revenue until payment is collected from the customers. Contracts do not have significant financing components and payment terms do not exceed one year from the date of the sale. The Company does not incur significant credit losses from contracts with customers. Consideration is primarily fixed in nature with insignificant amounts recognized related to sales discounts, rebates and product returns. The Company’s estimates for sales discounts, rebates and product returns reduce revenue recognized at the time of the sale. The Company’s warranties provide assurance that products will function as intended. Estimated costs of product warranties are recognized at the time of the sale.
Foreign Exchange Currency Contracts	Foreign Exchange Currency Contracts The Company enters into foreign exchange currency contracts that are not designated as hedging instruments for accounting purposes. Changes in fair value of foreign exchange currency contracts not designated as hedging instruments are reported in net income as part of foreign currency transaction loss (gain), net.
Accounts Receivable, Net	Accounts Receivable, net Accounts receivable are stated at amounts owed by customers, net of an allowance for estimated doubtful accounts. The allowance for doubtful accounts is determined on a specific identification basis by a review of those accounts that are significantly in arrears. Account balances are charged against the allowance when it is probable the receivable will not be recovered. See the consolidated balance sheets for the allowance amounts. The Company has a factoring agreement with a third party financial institution to sell the rights, with recourse, to accounts receivable balances due from a specific customer. Under the terms of the agreement, the Company may receive advances in amounts up to €1,000,000 based on the amounts invoiced to the customer. The Company maintains the collectability risk of all outstanding balances; therefore, customer balances are included in accounts receivable, including any allowance for risk of collectability, and amounts due to the financial institution are included in other current liabilities in the Consolidated Balance Sheet.
Recently Issued Accounting Standard	Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment. In February 2016, the FASB issued ASU 2016-02, Leases
Fair Value of Financial Instruments	The Company applies fair value accounting guidelines for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Under these guidelines, fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability (i.e. an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3 - Unobservable inputs that are supported by little, infrequent, or no market activity and reflect the Company’s own assumptions about inputs used in pricing the asset or liability. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value of the Company’s cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued expenses and other current liabilities approximate their carrying value, due to their short-term nature. Contingent consideration and newly acquired intangible assets are measured at fair value using level 3 inputs. Forward foreign exchange contracts are measured at fair value based on quoted foreign exchange forward rates at the reporting date.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Computation of basic and diluted earnings per common share	The following table represents the computation of basic and diluted earnings per common share (in thousands except per share data): Three Months Ended Six Months Ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net income $ 6,796 $ 7,284 $ 18,707 $ 17,495 Basic and diluted weighted average shares outstanding 31,597 27,046 30,718 26,996 Basic and diluted net income per common share $ 0.22 $ 0.27 $ 0.61 $ 0.65

Business Acquisition (Tables)

Business Acquisition (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule of Preliminary Allocation of Total Purchase Price, Net of Cash Acquired	The preliminary allocation of the total purchase price, net of cash acquired, is as follows: Accounts receivable $ 24,638 Inventories 35,882 Other current assets 6,488 Property, plant and equipment 20,242 Goodwill 248,913 Intangible assets 246,371 Other assets 4,622 Total assets acquired 587,156 Accounts payable (18,668 ) Accrued expenses (11,740 ) Incomes taxes payable (4,862 ) Other current liabilities (1,289 ) Other noncurrent liabilities (23,453 ) Total liabilities assumed (60,012 ) Fair value of net assets acquired $ 527,144
Schedule of Preliminary Fair Value of Identified Intangible Assets and Useful Lives	The preliminary fair value of identified intangible assets and their respective useful lives are as follows: Fair Value Weighted- Average Amortization Periods (Yrs) Trade name $ 25,740 18 Technology 13,483 13 Customer relationships 201,019 26 Sales order backlog 6,129 0.4 Identified intangible assets $ 246,371 24
Summary of Pro forma Financial Information	Consequently, actual results will differ from the unaudited pro forma information presented below: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales $ 136,168 $ 120,305 $ 274,426 $ 231,762 Operating income 26,972 24,861 52,954 45,218 Net income 15,600 9,105 30,474 20,702 Basic and diluted net income per common share 0.49 0.29 0.97 0.66

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The following tables provide information regarding the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2018 and December 30, 2017. June 30, 2018 Quoted Market Significant Other Observable Significant Unobservable Total Prices (Level 1) Inputs (Level 2) Inputs (Level 3) Assets Forward foreign exchange contracts $ 120 $ — $ 120 $ — Total $ 120 $ — $ 120 $ — Liabilities Forward foreign exchange contracts $ 167 $ — $ 167 $ — Contingent consideration 34,535 — — 34,535 Total $ 34,702 $ — $ 167 $ 34,535 December 30, 2017 Quoted Market Significant Other Observable Significant Unobservable Total Prices (Level 1) Inputs (Level 2) Inputs (Level 3) Liabilities Contingent consideration $ 33,882 $ — $ — $ 33,882 Total $ 33,882 $ — $ — $ 33,882
Summary of changes in estimated fair value of contingent consideration	A summary of the changes in the estimated fair value of contingent consideration related to the acquisition of Enovation Controls at June 30, 2018 is as follows: Balance at December 30, 2017 $ 33,882 Change in estimated fair value 149 Accretion in value 504 Balance at June 30, 2018 $ 34,535

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Summary of inventories	June 30, 2018 December 30, 2017 Raw materials $ 30,369 $ 26,426 Work in process 33,874 6,910 Finished goods 15,647 9,920 Provision for slow moving inventory (2,601 ) (1,711 ) Total $ 77,289 $ 41,545

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of changes in goodwill	A summary of changes in goodwill at June 30, 2018, is as follows: Hydraulics Electronics Total Balance at December 30, 2017 $ 2,496 $ 106,373 $ 108,869 Acquisition 248,913 — 248,913 Currency translation (11,785 ) — (11,785 ) Balance at June 30, 2018 $ 239,624 $ 106,373 $ 345,997
Schedule of intangible assets	At June 30, 2018, and December 30, 2017, intangible assets consisted of the following: June 30, 2018 December 30, 2017 Gross carrying amount Accumulated amortization Net amount Gross amount Accumulated amortization Net amount Definite-lived intangibles: Trade name and brands $ 55,285 $ (3,213 ) $ 52,072 $ 30,774 $ (2,115 ) $ 28,659 Non-compete agreements 950 (301 ) 649 950 (206 ) 744 Technology 31,217 (3,890 ) 27,327 18,435 (2,671 ) 15,764 Supply agreement 21,000 (3,325 ) 17,675 21,000 (2,275 ) 18,725 Sales order backlog 5,840 (3,553 ) 2,287 — — — Customer relationships 231,313 (5,377 ) 225,936 39,751 (2,607 ) 37,144 Licensing agreement 3,716 (741 ) 2,975 3,716 (621 ) 3,095 $ 349,321 $ (20,400 ) $ 328,921 $ 114,626 $ (10,495 ) $ 104,131
Schedule of estimated amortization expense of intangible assets	Amortization expense of intangible assets for the six months ended June 30, 2018, and July 1, 2017, was $10,124 and $4,348, respectively. The remaining amortization for 2018 is approximately $11,334. Total estimated amortization expense of intangible assets for the years 2019 through 2023 is presented below. Year: 2019 $ 17,913 2020 17,880 2021 17,779 2022 17,516 2023 17,457 Total $ 88,545

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Share Based Compensation [Abstract]
Summary of restricted stock activity	The following table summarizes restricted stock activity from December 30, 2017 through June 30, 2018: Weighted average Number of shares grant-date (in thousands) fair value Nonvested balance at December 30, 2017 88 $ 34.44 Granted 105 53.64 Vested (24 ) 35.45 Forfeitures (6 ) 37.29 Nonvested balance at June 30, 2018 163 $ 46.57

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2018
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Changes in Accumulated Other Comprehensive Loss by Component	Changes in Accumulated Other Comprehensive Loss by Component Unrealized Gains and Losses on Available-for- Sale Securities Foreign Currency Items Total Balance at December 30, 2017 $ — $ (6,478 ) $ (6,478 ) Other comprehensive loss before reclassifications — (24,718 ) (24,718 ) Amounts reclassified from accumulated other comprehensive loss — — — Net current period other comprehensive income — (24,718 ) (24,718 ) Balance at June 30, 2018 $ — $ (31,196 ) $ (31,196 ) Unrealized Gains and Losses on Available-for- Sale Securities Foreign Currency Items Total Balance at December 31, 2016 $ (391 ) $ (15,442 ) $ (15,833 ) Other comprehensive (loss) income before reclassifications (41 ) 5,191 5,150 Amounts reclassified from accumulated other comprehensive loss 163 — 163 Net current period other comprehensive income 122 5,191 5,313 Balance at July 1, 2017 $ (269 ) $ (10,251 ) $ (10,520 )
Summary of Reclassifications Out of Accumulated Other Comprehensive Loss	Reclassifications out of Accumulated Other Comprehensive Loss Details about Accumulated Other Affected Line Item in the Six months ended Comprehensive Income Components Consolidated Statement of Operations June 30, 2018 July 1, 2017 Unrealized gains and losses on available-for-sale securities Realized gain/(loss) on sale of securities Miscellaneous expense, net $ — $ (39 ) Other than temporary impairment Miscellaneous expense, net — (220 ) Total before tax — (259 ) Tax benefit — 96 Net of tax — (163 ) Total reclassifications for the period $ — $ (163 )

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of financial information by reportable segment	The following table presents financial information by reportable segment: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales Hydraulics $ 103,634 $ 60,818 $ 166,243 $ 114,940 Electronics 32,534 28,517 67,243 55,748 $ 136,168 $ 89,335 $ 233,486 $ 170,688 Operating income Hydraulics $ 25,401 $ 16,359 $ 38,844 $ 30,131 Electronics 6,532 6,419 13,639 12,655 Corporate and other (14,930 ) (2,077 ) (18,226 ) (6,301 ) $ 17,003 $ 20,701 $ 34,257 $ 36,485 Capital expenditures Hydraulics $ 6,172 $ 1,465 $ 10,149 $ 2,076 Electronics 172 1,082 432 1,229 $ 6,344 $ 2,547 $ 10,581 $ 3,305 June 30, 2018 December 30, 2017 Total assets Hydraulics $ 722,221 $ 185,300 Electronics 267,884 274,466 Corporate 2,247 — Total $ 992,352 $ 459,766
Schedule of geographic region information	Tangible long-lived assets are shown based on the physical location of the assets and primarily include net property, plant and equipment: Three months ended Six months ended June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net sales Americas $ 67,553 $ 52,705 $ 124,024 $ 99,993 Europe/Middle East/Africa 43,233 19,229 65,584 39,329 Asia/Pacific 25,382 17,401 43,878 31,366 Total $ 136,168 $ 89,335 $ 233,486 $ 170,688 June 30, 2018 December 30, 2017 Tangible long-lived assets Americas $ 79,188 $ 78,429 Europe/Middle East/Africa 25,359 7,803 Asia/Pacific 9,881 5,699 Total $ 114,428 $ 91,931

Company Background (Details Tex

Company Background (Details Textual)	6 Months Ended
	Jun. 30, 2018Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segments	2

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details Textual)	6 Months Ended
	Jun. 30, 2018EUR (€)
Accounting Policies [Abstract]
Term of revenue recognition	1 year
Maximum advance from factoring agreement of accounts receivable	€ 1,000,000

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Earnings Per Share [Abstract]
Net income	$ 6,796	$ 7,284	$ 18,707	$ 17,495
Basic and diluted weighted average shares outstanding	31,597	27,046	30,718	26,996
Basic and diluted net income per common share	$ 0.22	$ 0.27	$ 0.61	$ 0.65

Business Acquisition (Details T

Business Acquisition (Details Textual) - USD ($)	Apr. 05, 2018	Jun. 30, 2018	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Business Acquisition [Line Items]
Borrowings on credit facility					$ 258,000,000
Net sales		$ 136,168,000		$ 89,335,000	233,486,000	$ 170,688,000
Faster S.p.A [Member]
Business Acquisition [Line Items]
Business acquisition, date of acquisition	Apr. 5, 2018
Business acquisition of outstanding equity interest perceentage	100.00%
Cash consideration paid	$ 532,408,000
Cash consideration, net of cash acquried	$ 527,144,000
Maximum tax benefits realization period	2 years
Potential future liability	$ 0	$ 0	$ 0		0
Acquisition-related costs (included in Selling, engineering, and administrative expenses)			4,271,000		$ 4,271,000
Net sales			38,747,000
Income(loss) before income taxes			(1,454,000)
Charges related to purchase accounting effects of inventory			3,125,000
Amortization of Acquisition-related intangible assets			6,027,000
Accelerated amortization of pre acquisition loan costs			2,328,000
Loss on forward contract			(2,535,000)
Faster S.p.A [Member] | Sales Order Backlog [Member]
Business Acquisition [Line Items]
Amortization of Acquisition-related intangible assets			$ 3,633,000
Faster S.p.A [Member] | Revolving Credit and Term Loan Facility [Member]
Business Acquisition [Line Items]
Borrowings on credit facility	$ 358,000,000

Business Acquisition (Details)

Business Acquisition (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Apr. 05, 2018	Dec. 30, 2017
Business Acquisition [Line Items]
Goodwill	$ 345,997		$ 108,869
Faster S.p.A [Member]
Business Acquisition [Line Items]
Accounts receivable		$ 24,638
Inventories		35,882
Other current assets		6,488
Property, plant and equipment		20,242
Goodwill		248,913
Intangible assets		246,371
Other assets		4,622
Total assets acquired		587,156
Accounts payable		(18,668)
Accrued expenses		(11,740)
Incomes taxes payable		(4,862)
Other current liabilities		(1,289)
Other noncurrent liabilities		(23,453)
Total liabilities assumed		60,012
Fair value of net assets acquired		$ 527,144

Business Acquisition (Details 1

Business Acquisition (Details 1) - Faster S.p.A [Member] $ in Thousands	Apr. 05, 2018USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 246,371
Weighted- Average Amortization Periods (Yrs)	24 years
Trade Name [Member]
Business Acquisition [Line Items]
Intangible assets	$ 25,740
Weighted- Average Amortization Periods (Yrs)	18 years
Developed Technology Rights [Member]
Business Acquisition [Line Items]
Intangible assets	$ 13,483
Weighted- Average Amortization Periods (Yrs)	13 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets	$ 201,019
Weighted- Average Amortization Periods (Yrs)	26 years
Sales Order Backlog [Member]
Business Acquisition [Line Items]
Intangible assets	$ 6,129
Weighted- Average Amortization Periods (Yrs)	4 months 24 days

Business Acquisition (Details 2

Business Acquisition (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Business Combinations [Abstract]
Net sales	$ 136,168	$ 120,305	$ 274,426	$ 231,762
Operating income	26,972	24,861	52,954	45,218
Net income	$ 15,600	$ 9,105	$ 30,474	$ 20,702
Basic and diluted net income per common share	$ 0.49	$ 0.29	$ 0.97	$ 0.66

Fair Value of Financial Instr39

Fair Value of Financial Instruments (Details) - Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Assets
Assets measured at fair value	$ 120
Liabilities
Liabilities measured at fair value	34,702	$ 33,882
Forward Foreign Exchange Contracts [Member]
Assets
Assets measured at fair value	120
Liabilities
Liabilities measured at fair value	167
Level 2 [Member]
Assets
Assets measured at fair value	120
Liabilities
Liabilities measured at fair value	167
Level 2 [Member] | Forward Foreign Exchange Contracts [Member]
Assets
Assets measured at fair value	120
Liabilities
Liabilities measured at fair value	167
Level 3 [Member]
Liabilities
Liabilities measured at fair value	34,535	33,882
Contingent Consideration [Member]
Liabilities
Liabilities measured at fair value	34,535	33,882
Contingent Consideration [Member] | Level 3 [Member]
Liabilities
Liabilities measured at fair value	$ 34,535	$ 33,882

Fair Value of Financial Instr40

Fair Value of Financial Instruments (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018EUR (€)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Purchase amount of forward foreign exchange currency contract | €			€ 370,000
Realized loss on forward foreign exchange contract	$ (958)	$ (2,535)
Derivative expiration, description		expire at various dates through February 2019
Forward Foreign Exchange Contracts [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative instrument, notional amount	$ 10,050	$ 10,050

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Details 1) - Enovation Controls [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 33,882
Change in estimated fair value	149
Accretion in value	504
Ending Balance	$ 34,535

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Summary of inventories
Raw materials	$ 30,369	$ 26,426
Work in process	33,874	6,910
Finished goods	15,647	9,920
Provision for slow moving inventory	(2,601)	(1,711)
Total	$ 77,289	$ 41,545

Goodwill and Intangible Asset43

Goodwill and Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 108,869
Acquisition	248,913
Currency translation	(11,785)
Goodwill, Ending Balance	345,997
Hydraulics [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	2,496
Acquisition	248,913
Currency translation	(11,785)
Goodwill, Ending Balance	239,624
Electronics [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	106,373
Acquisition	0
Currency translation	0
Goodwill, Ending Balance	$ 106,373

Goodwill and Intangible Asset44

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 349,321	$ 114,626
Accumulated amortization	(20,400)	(10,495)
Net carrying amount	328,921	104,131
Trade name and brands [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	55,285	30,774
Accumulated amortization	(3,213)	(2,115)
Net carrying amount	52,072	28,659
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	950	950
Accumulated amortization	(301)	(206)
Net carrying amount	649	744
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	31,217	18,435
Accumulated amortization	(3,890)	(2,671)
Net carrying amount	27,327	15,764
Supply agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	21,000	21,000
Accumulated amortization	(3,325)	(2,275)
Net carrying amount	17,675	18,725
Sales order backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,840
Accumulated amortization	(3,553)
Net carrying amount	2,287
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	231,313	39,751
Accumulated amortization	(5,377)	(2,607)
Net carrying amount	225,936	37,144
Licensing agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	3,716	3,716
Accumulated amortization	(741)	(621)
Net carrying amount	$ 2,975	$ 3,095

Goodwill and Intangible Asset45

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 8,076	$ 2,039	$ 10,124	$ 4,348
Amortization expense for the remainder of 2018	$ 11,334		$ 11,334

Goodwill and Intangible Asset46

Goodwill and Intangible Assets (Details 2) $ in Thousands	Jun. 30, 2018USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2,019	$ 17,913
2,020	17,880
2,021	17,779
2,022	17,516
2,023	17,457
Total	$ 88,545

Credit Facilities (Details Text

Credit Facilities (Details Textual) ₩ in Thousands	Apr. 05, 2018USD ($)	Apr. 01, 2018USD ($)	Jun. 30, 2018USD ($)	Jul. 01, 2017USD ($)	Jun. 30, 2018KRW (₩)	Mar. 31, 2018USD ($)	Mar. 30, 2018KRW (₩)	Dec. 30, 2017USD ($)
Debt Instrument [Line Items]
Revolving line of credit			$ 256,750,000					$ 116,000,000
PNC Bank, National Association, as Administrative Agent, and Lender Party [Member]
Debt Instrument [Line Items]
Interest expense recognized			4,534,000	$ 1,778,000
PNC Bank, National Association, as Administrative Agent, and Lender Party [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facilities, maximum capacity						$ 300,000,000
Revolving line of credit			256,750,000					116,000,000
Additional credit available subject to pro forma compliance with debt covenant			$ 143,250,000					$ 184,000,000
Interest rate in effect			4.01%		4.01%
Shinhan Bank [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facilities, maximum capacity			$ 897,000		₩ 1,000,000		₩ 1,000,000
Interest rate in effect			2.05%		2.05%
Interest expense recognized			$ 5,000
Loan maturity date			Mar. 31, 2020
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facilities, maximum capacity		$ 400,000,000
Line of credit facility term loan aggregate principal amount		100,000,000
Accordion feature to increase maximum capacity		$ 200,000,000
Expiration date		Apr. 3, 2023
Amended Credit Agreement [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Cash consideration transferred through revolving credit facility	$ 258,000,000
Amended Credit Agreement [Member] | PNC Bank, National Association, as Administrative Agent, and Lender Party [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Balance of term loan after net of unamortized debt issuance cost			$ 97,580,000
Amended Credit Agreement [Member] | Line of Credit Term Loan Payment on July 2, 2018 [Member]
Debt Instrument [Line Items]
Credit facilities, quarterly term loan payment			1,250,000
Amended Credit Agreement [Member] | Line of Credit Term Loan Payment on July 2020 [Member]
Debt Instrument [Line Items]
Credit facilities, quarterly term loan payment			1,875,000
Amended Credit Agreement [Member] | Line of Credit Term Loan Payment on July 2022 [Member]
Debt Instrument [Line Items]
Credit facilities, quarterly term loan payment			$ 2,500,000

Public Stock Offering (Details

Public Stock Offering (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Feb. 06, 2018	Jun. 30, 2018	Jul. 01, 2017
Subsidiary Sale Of Stock [Line Items]
Proceeds from stock issued		$ 240,602	$ 465
Common stock
Subsidiary Sale Of Stock [Line Items]
Sale of stock		4,400,000
Common stock | Public Offering [Member]
Subsidiary Sale Of Stock [Line Items]
Sale of stock	4,400,000
Shares price per share	$ 57.50
Proceeds from stock issued	$ 239,793

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefit	$ 4,789
Federal returns currently under examination	The Company’s federal returns are currently under examination by the Internal Revenue Service (IRS) in the United States for the periods 2007 through 2012

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual)	Jun. 01, 2015shares	Jun. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2018GBP (£)shares	Jul. 01, 2017USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ratio for additional common stock shares issued, under ESPP		16.67%	16.67%
2012 Director Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of shares authorized for grant		270,000
Common stock shares for each nonemployee director	250
Fee for the chairs of each Board committee	150.00%
Annual retainer of common stock received by non employee directors		2,000	2,000
Stock option granted, shares		12,500	12,500	12,750
Share-based compensation expenses under Director's plan | $		$ 660,000		$ 501,000
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Rate of common stock at market value		85.00%	85.00%
Employee Stock Purchase Plan and U.K. Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of shares authorized for grant		1,096,875
Shares available for issuance		527,581
Number of shares purchased by employees		18,728	18,728	15,090
Weighted average price | $ / shares		$ 43.24		$ 30.90
Share-based compensation expenses | $		$ 138,000		$ 131,000
Minimum [Member] | Employee Stock Purchase Plan and U.K. Plan [Member] | United States [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares allowed to be purchased by employees | $		$ 25,000
Minimum [Member] | Employee Stock Purchase Plan and U.K. Plan [Member] | United Kingdom [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares allowed to be purchased by employees | £			£ 1,500
Allowable employees purchase rate of common stock based on annual salary		10.00%	10.00%
Maximum [Member] | 2012 Director Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of share issuable to non employee directors per year		35,000
Equity Incentive Plan (2011 Plan) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of shares authorized for grant		1,000,000
Shares available for issuance		358,038
Restricted stock expense | $		$ 1,279,000		$ 1,397,000
Total unrecognized compensation | $		$ 6,270,000
Recognized weighted average period (in years)		2 years	2 years
Nonemployee Director Equity and Deferred Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for issuance		136,374

Stock-Based Compensation (Det51

Stock-Based Compensation (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested Beginning balance Number of shares | shares	88
Granted, Number of shares | shares	105
Vested, Number of shares | shares	(24)
Forfeitures, Number of shares | shares	(6)
Nonvested Ending balance Number of shares | shares	163
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Nonvested Beginning balance, Weighted average grant-date fair value | $ / shares	$ 34.44
Granted, Weighted average grant-date fair value | $ / shares	53.64
Vested, Weighted average grant-date fair value | $ / shares	35.45
Forfeitures, Weighted average grant-date fair value | $ / shares	37.29
Nonvested Ending balance, Weighted average grant-date fair value | $ / shares	$ 46.57

Accumulated Other Comprehensi52

Accumulated Other Comprehensive Loss - Changes in AOCI (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 272,673
Ending Balance	503,395
Unrealized Gains and Losses on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ (391)
Other comprehensive income (loss) before reclassifications		(41)
Amounts reclassified from accumulated other comprehensive loss		163
Net current period other comprehensive income		122
Ending Balance		(269)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(6,478)	(15,442)
Other comprehensive income (loss) before reclassifications	(24,718)	5,191
Net current period other comprehensive income	(24,718)	5,191
Ending Balance	(31,196)	(10,251)
Accumulated other comprehensive income (loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(6,478)	(15,833)
Other comprehensive income (loss) before reclassifications	(24,718)	5,150
Amounts reclassified from accumulated other comprehensive loss		163
Net current period other comprehensive income	(24,718)	5,313
Ending Balance	$ (31,196)	$ (10,520)

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Loss (Details 1) - Accumulated other comprehensive income (loss) [Member] $ in Thousands	6 Months Ended
	Jul. 01, 2017USD ($)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Realized gain/(loss) on sale of securities	$ (39)
Other than temporary impairment	(220)
Total before tax	(259)
Tax benefit	96
Total reclassifications for the period	$ (163)

Segment Reporting (Details Text

Segment Reporting (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)Segment	Jul. 01, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		2
Amortization of acquisition related inventory step-up		$ 3,125	$ 1,774
Faster S.p.A [Member]
Segment Reporting Information [Line Items]
Transaction costs included in acquisition-related costs	$ 4,271	4,271
Amortization of Acquisition-related intangible assets	$ 6,027
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Unallocated costs		826
Amortization of acquisition related inventory step-up		3,125
Amortization of Acquisition-related intangible assets		10,004
Corporate and Other [Member] | Faster S.p.A [Member]
Segment Reporting Information [Line Items]
Transaction costs included in acquisition-related costs		$ 4,271

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017	Dec. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 136,168	$ 89,335	$ 233,486	$ 170,688
Operating income	17,003	20,701	34,257	36,485
Capital expenditures	6,344	2,547	10,581	3,305
Total assets	992,352		992,352		$ 459,766
Operating Segments [Member] | Hydraulics [Member]
Segment Reporting Information [Line Items]
Net sales	103,634	60,818	166,243	114,940
Operating income	25,401	16,359	38,844	30,131
Capital expenditures	6,172	1,465	10,149	2,076
Total assets	722,221		722,221		185,300
Operating Segments [Member] | Electronics [Member]
Segment Reporting Information [Line Items]
Net sales	32,534	28,517	67,243	55,748
Operating income	6,532	6,419	13,639	12,655
Capital expenditures	172	1,082	432	1,229
Total assets	267,884		267,884		$ 274,466
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating income	(14,930)	$ (2,077)	(18,226)	$ (6,301)
Total assets	$ 2,247		$ 2,247

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017	Dec. 30, 2017
Net sales
Net sales	$ 136,168	$ 89,335	$ 233,486	$ 170,688
Tangible long-lived assets
Tangible long-lived assets	114,428		114,428		$ 91,931
Americas [Member]
Net sales
Net sales	67,553	52,705	124,024	99,993
Tangible long-lived assets
Tangible long-lived assets	79,188		79,188		78,429
Asia/Pacific [Member]
Net sales
Net sales	25,382	17,401	43,878	31,366
Tangible long-lived assets
Tangible long-lived assets	9,881		9,881		5,699
Europe/Middle East/Africa [Member]
Net sales
Net sales	43,233	$ 19,229	65,584	$ 39,329
Tangible long-lived assets
Tangible long-lived assets	$ 25,359		$ 25,359		$ 7,803

Related Party Transactions (Det

Related Party Transactions (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jul. 01, 2017USD ($)	Jun. 30, 2018USD ($)Officer	Jul. 01, 2017USD ($)
Related Party Transaction [Line Items]
Net sales	$ 136,168	$ 89,335	$ 233,486	$ 170,688
Enovation Controls [Member]
Related Party Transaction [Line Items]
Due from entity	194	786	194	786
Due to entity	$ 731	$ 915	$ 731	915
Enovation Controls [Member] | Inventory Transactions [Member]
Related Party Transaction [Line Items]
Number of officers purchasing and selling inventory | Officer			1
Total sales to entity			$ 1,525	1,299
Total purchases from entity/related party			1,751	5,805
Enovation Controls [Member] | 'Transition Services Agreement [Member]
Related Party Transaction [Line Items]
Total purchases from entity/related party			$ 22	856
Maximum transition services period for specified services			1 year
Enovation Controls [Member] | 'Transition Services Agreement [Member] | Miscellaneous Expense, Net [Member]
Related Party Transaction [Line Items]
Net sales			$ 39	1,217
Related costs incurred			$ 39	$ 968

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
Total purchase commitments with suppliers	$ 33,192
Long term purchase commitment expected payment period	during fiscal years 2018 through 2020

Subsequent Events (Details Text

Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Thousands, $ in Thousands	Aug. 01, 2018USD ($)shares	Aug. 01, 2018AUD ($)shares	Jul. 31, 2018USD ($)
Enovation Controls [Member]
Subsequent Event [Line Items]
Cash consideration transferred | $			$ 17,342
Custom Fluidpower [Member]
Subsequent Event [Line Items]
Cash consideration transferred	$ 9,307	$ 12,574
Cash consideration paid	$ 25,906	$ 35,000
Consideration paid in shares of common stock | shares	333,065	333,065