LMI Aerospace (LMIA) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	LMI AEROSPACE INC
Entity Central Index Key	1,059,562
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		13,256,922
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 476	$ 7,927
Accounts receivable, net	61,389	58,234
Inventories	118,877	114,279
Prepaid expenses and other current assets	10,830	10,255
Deferred income taxes	3,775	3,913
Total current assets	195,347	194,608
Property, plant and equipment, net	101,102	99,482
Goodwill	86,784	86,784
Intangible assets, net	47,671	50,940
Other assets	8,971	10,622
Total assets	439,875	442,436
Current liabilities:
Accounts payable	17,961	21,755
Accrued expenses	24,634	26,072
Current installments of long-term debt and capital lease obligations	3,557	3,424
Total current liabilities	46,152	51,251
Long-term liabilities:
Long-term debt and capital lease obligations, less current installments	267,607	265,554
Other long-term liabilities	3,101	3,289
Deferred income taxes	4,155	4,207
Total long-term liabilities	274,863	273,050
Shareholders’ equity:
Common stock, $0.02 par value per share; authorized 28,000,000 shares; issued 13,287,688 and 13,089,003 shares at September 30, 2015 and December 31, 2014, respectively	266	262
Preferred stock, $0.02 par value per share; authorized 2,000,000 shares; none issued at either date	0	0
Additional paid-in capital	97,239	95,460
Accumulated other comprehensive loss	(201)	(170)
Treasury stock, at cost, 30,767 and 28,396 shares at September 30, 2015 and December 31, 2014, respectively	(333)	(359)
Retained earnings	21,889	22,942
Total shareholders’ equity	118,860	118,135
Total liabilities and shareholders' equity	$ 439,875	$ 442,436

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Shareholders’ equity:
Common stock, par value (in dollars per share)	$ 0.02	$ 0.02
Common stock, authorized shares (in shares)	28,000,000	28,000,000
Common stock, shares issued (in shares)	13,287,688	13,089,003
Preferred stock, par value (in dollars per share)	$ 0.02	$ 0.02
Preferred stock, authorized shares (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock, at cost (in shares)	30,767	28,396

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Sales and service revenue
Product sales	$ 84,114	$ 81,693	$ 246,730	$ 245,349
Service revenue	11,519	15,642	38,928	53,674
Net sales	95,633	97,335	285,658	299,023
Cost of sales and service revenue
Cost of product sales	67,514	61,535	197,211	195,170
Cost of service revenue	11,493	13,757	35,853	45,215
Cost of sales	79,007	75,292	233,064	240,385
Gross profit	16,626	22,043	52,594	58,638
Selling, general and administrative expenses	8,979	14,615	33,980	41,770
Restructuring expense	1,575	765	2,368	2,288
Income from operations	6,072	6,663	16,246	14,580
Other (expense) income:
Interest expense	(5,653)	(5,946)	(16,802)	(23,800)
Other, net	(136)	(75)	(89)	205
Total other expense	(5,789)	(6,021)	(16,891)	(23,595)
Income (loss) before income taxes	283	642	(645)	(9,015)
Provision (benefit) for income taxes	249	(754)	408	(2,557)
Net income (loss)	34	1,396	(1,053)	(6,458)
Other comprehensive income (loss):
Change in foreign currency translation adjustment	(32)	(112)	(31)	(18)
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $157 and $0	0	0	0	278
Total comprehensive income (loss)	$ 2	$ 1,284	$ (1,084)	$ (6,198)
Amounts per common share:
Net income (loss) per common share	$ 0	$ 0.11	$ (0.08)	$ (0.51)
Net income (loss) per common share assuming dilution	$ 0	$ 0.11	$ (0.08)	$ (0.51)
Weighted average common shares (in shares)	12,907,938	12,740,034	12,851,456	12,704,568
Weighted average dilutive common shares outstanding (in shares)	13,050,238	12,887,363	12,851,456	12,704,568

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $0 and $157	$ 0	$ 0	$ 0	$ 278

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net loss	$ (1,053)	$ (6,458)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	15,018	17,002
Share-based Compensation	1,424	1,442
Write off of Deferred Debt Issuance Cost	0	8,464
Payments for Other Operating Activities	0	(793)
Deferred Income Tax Expense (Benefit)	(78)	147
Other non-cash items	(94)	(87)
Changes in operating assets and liabilities:
Accounts receivable	(3,238)	8,187
Inventories	(4,993)	2,079
Prepaid expenses and other assets	1,914	2,003
Current income taxes	(75)	(2,899)
Accounts payable	(1,754)	785
Accrued expenses	(1,354)	6,144
Net cash provided by operating activities	5,717	36,016
Investing activities:
Additions to property, plant and equipment	(15,305)	(10,302)
Proceeds from sale of property, plant and equipment	260	981
Net cash used by investing activities	(15,045)	(9,321)
Proceeds from Issuance of Secured Debt	0	250,000
Financing activities:
Principal payments on long-term debt and notes payable	(1,814)	(231,898)
Advances on revolving line of credit	93,500	60,000
Payments on revolving line of credit	(89,500)	(96,000)
Payments for debt issuance cost	(309)	(7,881)
Other, net	0	(28)
Net cash provided (used) by financing activities	1,877	(25,807)
Net (decrease) increase in cash and cash equivalents	(7,451)	888
Cash and cash equivalents, beginning of period	7,927	1,572
Cash and cash equivalents, end of period	476	2,460
Supplemental disclosure of noncash transactions:
Defined contribution plan funding in Company stock	$ 710	$ 848

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair representation have been included. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . These financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in the Annual Report on Form 10-K of LMI Aerospace, Inc. (the "Company”) for the year ended December 31, 2014 , as filed with the Securities and Exchange Commission on March 16, 2015. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from these estimates. Recent Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). On July 9, 2015 the FASB voted to approve a one year delay of the effective date and to permit companies to voluntarily adopt the new standard as of the original effective date. The new standard is effective for reporting periods beginning after December 15, 2017. The standard will supersede existing revenue recognition guidance, including industry-specific guidance, and will provide companies with a single revenue recognition model for recognizing revenue from contracts with customers. The standard requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. The provisions of this new guidance are effective as of the beginning of the Company’s first quarter of 2018. The Company is currently evaluating the transition method to be used and the impact of adoption of this standard on its consolidated financial statements. In April 2014, the FASB issued ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." The amendments in this update change the requirements for reporting discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results and when the component or group of components meets the criteria to be classified as held for sale, is disposed by sale or is disposed of by other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). ASU 2014-8 is effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014. The Company has no present activity that would be impacted by this new standard. In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest", which requires that debt issuance costs related to a debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. FASB ASU 2015-03 is effective for annual and interim periods beginning after December 15, 2015 and requires the Company to apply the new guidance on a retrospective basis upon adoption. The adoption of FASB ASU 2015-03 is not expected to have a material impact on the Company’s consolidated financial statements. All other issued but not yet effective accounting pronouncements are not expected to have a material impact on our Condensed Consolidated Financial Statements.

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net consists of the following: September 30, 2015 December 31, 2014 Trade receivables $ 49,741 $ 53,081 Unbilled revenue 6,004 4,036 Other receivables (1) 5,870 1,581 61,615 58,698 Less: Allowance for doubtful accounts (226 ) (464 ) Accounts receivable, net $ 61,389 $ 58,234 (1) At September 30, 2015, includes $4,266 related to the settlement of a lawsuit in the third quarter of 2015. See Note 14, "Legal Contingencies," in the Notes to the Condensed Consolidated Financial Statements. Under contract accounting, unbilled revenues arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Included in unbilled revenue at September 30, 2015 and December 31, 2014 are $195 and $549 , respectively, related to unpriced change orders or claims that are subject to negotiation. The final resolution of these unpriced items could result in either a favorable or unfavorable change in the revenue recognized to date on the associated contracts. Accounts receivable expected to be collected after one year is not material. The Company records changes in contract estimates using the cumulative catch-up method in accordance with the Revenue Recognition topic of the FASB Accounting Standards Codification. Cumulative catch-up adjustments had the following impacts to operating income for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Favorable adjustments $ 96 $ 4,898 $ 554 $ 5,620 Unfavorable adjustments (2,183 ) (545 ) (2,214 ) (727 ) Net favorable (unfavorable) operating income adjustments $ (2,087 ) $ 4,353 $ (1,660 ) $ 4,893 The unfavorable cumulative catch-up adjustments recorded in the third quarter of 2015 primarily related to higher projected engineering costs, identified in the third quarter of 2015, which are required to meet customer specifications on the Mitsubishi Regional Jet design-build program. The adjustment related to this program was $1,738 and was recorded as a reduction of revenue in the Consolidated Statements of Comprehensive Income (Loss). The favorable cumulative adjustments recorded in the third quarter of 2014 related to the reversal of a loss reserve. This adjustment was recognized after the Company settlement of an unpriced change order and secured more favorable future material pricing with respect to this contract. The impact of reversing the loss reserve was $4,602 and $5,267 for the three and nine months ended September 30, 2014 and was recorded in the cost of goods sold section of the Consolidated Statements of Comprehensive Income (Loss).

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: September 30, 2015 December 31, 2014 Raw materials $ 14,606 $ 16,712 Work in progress 23,915 22,960 Manufactured and purchased components 20,016 21,296 Finished goods 29,253 32,403 Product inventory 87,790 93,371 Capitalized contract costs 31,087 20,908 Total inventories $ 118,877 $ 114,279 Inventories include capitalized contract costs relating to programs and contracts with long-term production cycles. The Company believes these amounts will be fully recovered over the life of the contracts. Anticipated losses on contracts are recognized, when required, and reported as a reduction of related contract costs recorded in inventory or accounts receivable and as additional cost of sales or as a reduction to revenue. The company is engaged in a contract accounted for using the cost to cost method where estimated costs exceed the total contract revenue. A provision for the remaining estimated loss on this contract of $121 and $0 was reported as a reduction of accounts receivable in the Condensed Consolidated Balance Sheet at September 30, 2015 and December 31, 2014 , respectively. In January 2015, the Company signed an agreement with a key customer to form a strategically aligned partnership. This agreement extended the performance period of the statements of work for certain contracts with the customer and gives the Company preferred supplier status on certain future contracts. In accordance with the contract terms, the Company made cash consideration payments of $4,800 in January 2015 and $1,700 in June 2015. The payments were recorded as an increase to capitalized contract costs and are being amortized as a reduction to revenue over the life of the associated contracts.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The following table summarizes the net carrying amount of goodwill by segment at September 30, 2015 and December 31, 2014 , respectively: Engineering Aerostructures Services Total September 30, December 31, September 30, December 31, September 30, December 31, 2015 2014 2015 2014 2015 2014 Balance at: Gross Goodwill $ 141,953 $ 141,953 $ 50,741 $ 50,741 $ 192,694 $ 192,694 Accumulated impairment loss (79,471 ) (79,471 ) (26,439 ) (26,439 ) (105,910 ) (105,910 ) Net Goodwill $ 62,482 $ 62,482 $ 24,302 $ 24,302 $ 86,784 $ 86,784 A goodwill impairment charge of $26,439 was recorded in the fourth quarter of 2014 related to the Engineering Services reporting unit. The impairment charge resulted from a persistent decline in revenues and profitability in 2014. In the first nine months of 2015, the reporting unit generated positive cash flow but did not meet overall expectations in terms of revenues, profits or cash flow. On August 7, 2015, the Company committed to a restructuring plan that will result in the closing of its Melbourne, Australia and Greenville, South Carolina engineering offices in addition to the elimination of additional management positions within the Engineering Services reporting unit. See Note 13, Restructuring, to the Condensed Consolidated Financial Statements under Part I, Item 8, "Financial Statements," for additional disclosure related to these items. I f, despite these additional cost reduction efforts, the reporting unit's revenue and profitability were to continue to decline, it could lead to a triggering event and additional potential impairment for intangible assets and goodwill for the reporting unit in the future. The carrying value of goodwill is assessed annually, during the fourth quarter, unless a triggering event occurs. Following an assessment an impairment charge is recorded if appropriate. In the three and nine months ended September 30, 2015 , no triggering event occurred that would cause the Company to assess the carrying value of goodwill. Intangible Assets Intangible assets primarily consist of trademarks and customer intangibles. The carrying values were as follows: September 30, 2015 December 31, 2014 Trademarks $ 778 $ 778 Customer intangible assets 68,991 68,991 Other 1,274 1,274 Accumulated amortization (23,372 ) (20,103 ) Intangible assets, net $ 47,671 $ 50,940 Intangibles amortization expense was $1,089 and $1,131 for the three months ended September 30, 2015 and 2014 , respectively and $3,269 and $3,393 for the nine months ended September 30, 2015 and 2014 , respectively. The accumulated amortization balances at September 30, 2015 and December 31, 2014 , respectively, were $753 and $679 for trademarks, $21,791 and $18,716 for customer intangible assets, and $828 and $708 for other intangible assets. Intangible assets related to the acquisition of Valent are amortized on the straight-line method as this approximates the pattern of economic benefit of each intangible asset. All other remaining intangible assets are not material.

Other Assets (Notes)

Other Assets (Notes)	9 Months Ended
	Sep. 30, 2015
Other Assets, Noncurrent [Abstract]
Other Assets Disclosure [Text Block]	Other assets consist of the following: September 30, 2015 December 31, 2014 Debt issuance cost, net $ 7,353 $ 8,600 Other 1,618 2,022 Total other assets $ 8,971 $ 10,622 In connection with the financing of its long-term indebtedness, the Company incurred debt issuance costs of $10,001 . These costs are being amortized on a straight-line basis, which approximates the effective interest method, over the term of the indebtedness.

Long-term Debt and Capital Leas

Long-term Debt and Capital Lease Obligations	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-term Debt and Capital Lease Obligations	Long-term Debt and Capital Lease Obligations Long-term debt and capital lease obligations consist of the following: September 30, 2015 December 31, 2014 Second priority senior secured notes at a fixed rate of 7.375% at September 30, 2015 $ 245,000 $ 245,000 Revolver under credit agreement, variable 4,000 — Missouri IRBs at fixed rate of 2.80% at September 30, 2015 and December 31, 2014 7,011 7,334 Capital leases, at fixed rates ranging from 2.04% to 7.73% at September 30, 2015 and December 31, 2014 12,125 13,288 Notes payable, principal and interest payable monthly, at fixed rates up to 2.56% at September 30, 2015 and December 31, 2014, respectively 3,028 3,356 Total debt $ 271,164 $ 268,978 Less current installments 3,557 3,424 Total long-term debt and capital lease obligations $ 267,607 $ 265,554 At September 30, 2015 , the Company had $245,000 in outstanding second-priority senior secured notes maturing on June 19, 2019. Obligations under these notes are secured by substantially all of the Company’s assets and bear interest at 7.375% , paid semi-annually in January and July. The Company's revolving credit agreement provides for a revolving credit facility of up to $90,000 . Under the agreement, the co-collateral agents may establish a reserve against the facility. At September 30, 2015 , the reserve established was $15,000 , which reduced the maximum availability to $75,000 . Based on the amount of eligible assets at September 30, 2015 and outstanding letters of credit of $1,138 , available borrowings were further reduced to $54,781 . The maximum amount, less reserves, available for borrowing at levels below $30,000 is based on a sum of 45% of eligible receivables, 30% of eligible inventories and an additional amount of eligible equipment up to 20% of total borrowings under the facility. The maximum amount, less reserves, available for borrowing at levels above $30,000 is based on a sum of 75% of eligible receivables, 45% of eligible inventories and an additional amount of eligible equipment up to 20% of total borrowings under the facility. Borrowings under the facility are secured by a first lien on substantially all of the Company’s assets and bear interest at either the LIBOR rate plus a margin of 3.00% to 3.50% or the alternate base rate, which is the highest of the following plus a margin of 2.00% to 2.50% , respectively, with the applicable margins for the revolving credit facility subject to a grid based on the average availability ratio of the Company for the most recently completed quarter: • Prime rate, • Federal funds rate plus 0.5% , or, • The adjusted Eurodollar rate for an interest period of one month plus 1.0% . For both the three and the nine months ended September 30, 2015 , the actual interest rate incurred for the revolving credit facility was 4.6% . The Company is required to pay a commitment fee of between 0.375% and 0.5% per annum on the unused portion of the revolving credit facility, depending on the average revolver usage during the period as compared to the total available borrowings under the facility. At September 30, 2015 , the commitment fee required was 0.5% . The revolving credit loan facility matures on the earlier of the fifth year anniversary date of June 19, 2019 or the date that is 91 days prior to the maturity date of the senior secured notes unless the notes are repaid, refinanced or otherwise satisfied in full. The maturity dates are subject to acceleration upon occurrence of an event of default. An event of default under the revolving credit agreement includes, among other things, failure to pay any material indebtedness, acceleration of payments by any lender prior to scheduled maturity, or judgments rendered against the Company requiring payments at or above certain levels. The credit agreement contains a covenant that requires us to comply with a maximum first priority debt to EBITDA ratio on a quarterly basis. In addition, the agreement also contains certain restrictive covenants that limit and in some circumstances prohibit our ability to, among other things, incur additional debt, sell, lease or transfer our assets, make investments, guarantee debt or obligations, create liens, and enter into certain merger, consolidation or other reorganization transactions. These restrictive covenants prohibit the Company from paying dividends. These restrictions could limit our ability to obtain future financing, make acquisitions or needed capital expenditures, withstand any current or future downturns in our business or the economy in general, conduct operations or otherwise take advantage of business opportunities that may arise, any of which could place us at a competitive disadvantage relative to our competitors that have less debt and are not subject to such restrictions. At September 30, 2015 , the Company was in compliance with all of its covenants and expects to be in compliance with its covenants in future periods. If the Company fails to meet any covenants in the credit agreement, the Company would not be in compliance with its credit agreement and the lenders would be entitled to exercise various rights, including causing the amounts outstanding under the revolving credit facility to become immediately due and payable.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments On June 19, 2014, the Company terminated and settled its interest rate derivatives in conjunction with the settlement of its then existing credit agreement, which had a variable interest rate. This settlement resulted in a charge of $793 to interest expense in the Condensed Consolidated Statements of Comprehensive Income (Loss) in the nine months ended September 30, 2014. Prior to this termination and in compliance with the credit agreement, the Company purchased option and swap derivative contracts to hedge against the potential impact on earnings from an increase in market interest rates associated with the interest payments on its variable rate term credit facility. The objective of the hedge transactions was to reduce the variability of cash flows due to changes in the designated benchmark interest rate on the term debt. As the derivatives were settled prior to December 31, 2014 , no assets or liabilities were recognized in the Condensed Consolidated Balance Sheet at either date presented. The Company designated and accounted for these swaps and purchased options as cash flow hedges of interest rate risk. The Company reported the gain or loss, net of taxes, from the effective portion of the hedge as a component of Accumulated Other Comprehensive Income (“AOCI”) deferring it and reclassifying it into earnings in the same period or periods in which the hedged transaction affects earnings and in the same line item on the Condensed Consolidated Statements of Comprehensive Income (Loss) as the impact of the hedged transaction. The cumulative amounts reported in AOCI related to these derivatives were reclassified from AOCI to interest expense on the Condensed Consolidated Statements of Comprehensive Income (Loss) in the nine months ended September 30, 2014. The Company did not use these derivative instruments for trading or speculative purposes. The following amounts are included in OCI and earnings for the three and nine months ended September 30, 2015 and September 30, 2014 : Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Interest Rate Derivatives in Cash Flow Hedging Relationship Amount of Gain (Loss) Recognized in AOCI, net of tax, on Derivative (Effective Portion) $ — $ — $ — $ — Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion) $ — $ — $ — $ 793

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic net income per common share is based upon the weighted average number of common shares outstanding. Diluted net income per common share is based upon the weighted average number of common shares outstanding, including the dilutive effect of restricted stock, using the if-converted methods. The following table shows a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share. Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerators Net income (loss) $ 34 $ 1,396 $ (1,053 ) $ (6,458 ) Denominators Weighted average common shares - basic 12,907,938 12,740,034 12,851,456 12,704,568 Dilutive effect of restricted stock 142,300 147,329 — — Weighted average common shares - diluted 13,050,238 12,887,363 12,851,456 12,704,568 Basic earnings (loss) per share $ 0.00 $ 0.11 $ (0.08 ) $ (0.51 ) Diluted earnings (loss) per share $ 0.00 $ 0.11 $ (0.08 ) $ (0.51 ) For the nine months ended September 30, 2015 and September 30, 2014 , 216,872 and 145,710 shares, respectively, are not included in the calculation of diluted earnings per share, as their inclusion would have been anti-dilutive. These securities could be dilutive in future periods.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation On July 7, 2005, the Company’s shareholders approved the LMI Aerospace, Inc. 2005 Long-term Incentive Plan (the “ 2005 Plan”). The 2005 Plan provided for the grant of non-qualified stock options, incentive stock options, shares of restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based grants and cash bonus awards to employees and directors. All share-based grants or awards were subject to a time-based vesting schedule. All outstanding share-based grants are in the form of restricted stock. A summary of the activity for non-vested restricted stock awards under the 2005 Plan is presented below: Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 296,782 $ 16.58 Granted 131,703 13.22 Vested (131,986 ) 17.57 Forfeited (34,411 ) 15.35 Outstanding at September 30, 2015 262,088 $ 14.56 Common stock compensation expense related to restricted stock awards granted under the 2005 Plan was $224 and $765 for the three months ended September 30, 2015 and 2014 , respectively and $1,154 and $1,442 for the nine months ended September 30, 2015 and 2014, respectively. Total unrecognized compensation costs related to non-vested, share-based awards granted or awarded under the 2005 Plan were $2,023 and $2,036 at September 30, 2015 and December 31, 2014 , respectively. These costs are expected to be recognized over a weighted average period of 1.8 years and 1.2 years , at September 30, 2015 and December 31, 2014 , respectively. As of July 7, 2015 the Company was no longer able to grant awards under the 2005 Plan. On June 24, 2015, the Company's shareholders approved the LMI Aerospace, Inc. 2015 Incentive Compensation Plan (the “2015 Plan”), which became effective on July 1, 2015. Under the 2015 Plan, the Company, through the Compensation Committee of the Board of Directors, may, at its discretion, grant stock options, restricted shares of common stock, and other various stock-based awards to directors, officers, employees and consultants. A total of 750,000 shares of the Company’s common stock have been reserved for issuance under the 2015 Plan. All outstanding share-based grants are in the form of restricted stock. A summary of the activity for non-vested restricted stock awards under the 2015 Plan is presented below: Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 — $ — Granted 61,801 9.79 Vested — — Forfeited — — Outstanding at September 30, 2015 61,801 $ 9.79 Common stock compensation expense related to restricted stock awards granted under the 2015 Plan was $151 and $0 for the three months ended September 30, 2015 and 2014 , respectively and $151 and $0 for the nine months ended September 30, 2015 and 2014, respectively. Total unrecognized compensation costs related to non-vested, share-based awards granted or awarded under the 2015 Plan were $454 and $0 at September 30, 2015 and December 31, 2014 , respectively. These costs are expected to be recognized over a weighted average period of 0.8 years at September 30, 2015 .

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company is organized into two reportable segments: the Aerostructures segment and the Engineering Services segment. Through its Aerostructures segment, the Company primarily fabricates, machines, finishes, integrates, assembles and kits formed close tolerance aluminum, specialty alloy and composite components and higher level assemblies for use by the aerospace and defense industries. It manufactures more than 40,000 products for integration into a variety of aircraft platforms manufactured by leading original equipment manufacturers and Tier 1 aerospace suppliers. Through its Engineering Services segment, the Company provides a complete range of design, engineering and program management services, supporting aircraft product lifecycles from conceptual design, analysis and certification through production support, fleet support and service life extensions via a complete turnkey engineering solution. Corporate assets, liabilities and expenses related to the Company's corporate offices, except for interest expense and income taxes, primarily support, and are recorded in, the Aerostructures segment. The table below presents information about reported segments on the same basis used internally to evaluate segment performance: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net sales: Aerostructures $ 85,119 $ 82,914 $ 249,661 $ 249,101 Engineering Services 10,826 14,714 36,818 51,235 Eliminations (312 ) (293 ) (821 ) (1,313 ) $ 95,633 $ 97,335 $ 285,658 $ 299,023 Income from operations: Aerostructures $ 8,918 $ 7,888 $ 20,063 $ 14,010 Engineering Services (2,805 ) (1,216 ) (3,803 ) 666 Eliminations (41 ) (9 ) (14 ) (96 ) $ 6,072 $ 6,663 $ 16,246 $ 14,580

Customer Concentration

Customer Concentration	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
Customer Concentration	Customer Concentration Direct sales, through both of the Company’s business segments, to our largest customer, Spirit Aerosystems (“Spirit”), accounted for 34.4% and 34.4% of the Company’s total revenues for the three months ended September 30, 2015 and 2014 , respectively. Direct sales to Spirit accounted for 34.8% and 33.7% of the Company's total revenues for the nine months ended September 30, 2015 and 2014 , respectively. Accounts receivable balances related to Spirit were 26.9% and 33.3% of the Company’s total accounts receivable balance at September 30, 2015 and December 31, 2014 , respectively. Direct sales, through both of the Company’s business segments, to our second largest customer, Gulfstream Aerospace Corporation, a General Dynamics company (“Gulfstream”), accounted for 15.9% and 14.3% of the Company’s total revenues for the three months ended September 30, 2015 and 2014 , respectively. Direct sales to Gulfstream accounted for 14.3% and 15.3% of the Company's total revenues for the nine months ended September 30, 2015 and 2014 , respectively. Accounts receivable balances related to Gulfstream were 15.7% and 13.1% of the Company’s total accounts receivable balance at September 30, 2015 and December 31, 2014 , respectively. Direct sales, through both of the Company’s business segments, to our third largest customer, The Boeing Company, (“Boeing”), accounted for 12.6% and 10.0% of the Company’s total revenues for the three months ended September 30, 2015 and 2014 , respectively. Direct sales to Boeing accounted for 11.4% and 10.9% of the Company's total revenues for the nine months ended September 30, 2015 and 2014 , respectively. Accounts receivable balances resulting from direct sales to Boeing were 6.2% and 7.4% of the Company’s total accounts receivable balance at September 30, 2015 and December 31, 2014 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company records income tax expense or benefit each quarter based on its estimated full-year effective tax rate. Income tax expense of $249 and $408 were recognized in the three and nine months ended September 30, 2015 , respectively. Income tax benefit of $754 and $2,557 were recognized in the three and nine months ended September 30, 2014 , respectively. The Company's tax benefit in the three and nine months ended September 30, 2014 reflects a net tax benefit of $2,582 related to the decision to carry back the net operating loss recognized in 2013. The Company continues to carry a full valuation allowance on its net deferred tax assets, which totaled $13,588 and $12,676 at September 30, 2015 and December 31, 2014, respectively. At September 30, 2015, the Company has recorded a receivable of $7,069 primarily related to the filing of the 2014 federal tax return.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The Company committed to and implemented various restructuring plans in 2014 and 2015. Included in those plans were the closure of the Precise Machine facility in Fort Worth, Texas, and the relocation of the machining operations in both Savannah, Georgia and St. Charles, Missouri to other facilities within the Company. Other employment separation activities were also implemented as part of the Company's overall reorganization and cost reduction initiatives. In addition, in the third quarter of 2015, the Company committed to the closing of its Melbourne, Australia and Greenville, South Carolina engineering offices, the elimination of additional management positions within the Engineering Services segment and the closure of its Coweta, Oklahoma manufacturing facility. The expense associated with these plans was reflected in the selling, general, and administrative section on a separate line of the Condensed Consolidated Statements of Comprehensive Income (Loss). The following table summarizes the incurred charges associated with these restructuring activities: Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Precise Machine facility closure $ — $ (18 ) $ — $ 287 Savannah machining operations relocation — — — 47 St. Charles machine parts operations relocation — — 378 — Coweta machining facility closure 64 — 64 — Greenville office closure 501 — 501 — Australia office closure 34 — 34 — Other employment separation activities 976 783 1,391 1,954 Total $ 1,575 $ 765 $ 2,368 $ 2,288 The Savannah, Georgia and Precise plans were completed in the second quarter of 2014. The St. Charles and Greenville plans were completed in the second and third quarter of 2015, respectively. The Company expects the Coweta and Australia plans to be completed in the fourth quarter of 2015. Cash payments were made associated with these restructuring plans of $1,165 and $253 in the three months ended September 30, 2015 and September 30, 2014 , respectively and $2,175 and $1,441 in the nine months ended September 30, 2015 and September 30, 2014 , respectively. The following table summarizes the incurred and expected charges associated with these restructuring activities: Expense Remaining Total Expense Incurred through Expense to be Expected to be September 30, 2015 Incurred Incurred Employee severance arrangement - Precise $ 615 $ — $ 615 Employee severance arrangement - Savannah 47 — 47 Employee severance arrangement - St. Charles 378 — 378 Employee severance arrangement - Coweta 64 28 92 Employee severance arrangement - Greenville 376 — 376 Employee severance arrangement - Australia 34 — 34 Other employee severance arrangements 3,529 — 3,529 Lease termination costs - Precise 124 — 124 Lease termination costs - Greenville 125 — 125 Other restructuring expenses 115 — 115 Total $ 5,407 $ 28 $ 5,435 The following table summarizes the Company's restructuring activities during the nine months ended September 30, 2015 : Employee Severance Accrued restructuring balance as of December 31, 2014 $ 739 Accrual additions 2,368 Cash payments (2,175 ) Accrued restructuring balance as of September 30, 2015 $ 932 Accrued restructuring of $932 at September 30, 2015 is expected to be paid over the next three quarters.

Legal Contingencies

Legal Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Contingencies	Legal Contingencies The Company has been named as a defendant in certain pending lawsuits in the normal course of business (collectively, the “Pending Lawsuits”). It is the policy of management to disclose the amount or range of reasonably possible losses. In the opinion of management, after consulting with legal counsel, any losses resulting from Pending Lawsuits should not have a material effect on the Company’s financial position, cash flows or results of operations. The Company is also the subject of other proceedings as further described below. Regulatory Actions In August 2013, the Environmental Protection Agency (“EPA”) and the U.S. Dept. of Justice (“DoJ”) commenced an investigation into allegations of low pH wastewater releases claimed to have occurred between 2009 and 2013 at Ozark Mountain Technologies ("OMT"), a subsidiary of LMI (the “Waste Water Allegations”). On April 24, 2015, the Company settled the Waste Water Allegations pursuant to a settlement agreement with DoJ (“Plea Agreement”). Per the terms of the Plea Agreement, OMT plead guilty to one count of negligently violating the Federal Water Pollution Control Act and paid a fine of $694 in the quarter ended June 30, 2015. In connection with the Plea Agreement, DoJ agreed that no further federal criminal or civil prosecution will be brought against OMT relative to certain other possible instances of environmental non-compliance that the Company voluntarily reported to the EPA in December 2013 as part of the EPA’s Audit Policy. In November, 2013, the Attorney General of the State of Missouri (the “Missouri AG”) contacted LMI regarding alleged violations of certain state environmental regulations involving the discharge of pollutants and water contaminants claimed to have occurred in 2011 by OMT (the “Missouri AG Matter”). On February 25, 2015, the Missouri AG filed a Petition against OMT alleging pollution of state waters, violation of pretreatment regulations and violation of water quality standards. In the quarter ended June 30, 2015, OMT settled the Missouri AG Matter and in July of 2015 paid civil penalties of $175 . The fine and civil penalties paid in connection with both settlements described above were consistent with the previously established, respective, loss contingencies as disclosed in the Company’s 2014 Form 10-K, Item 3 - Legal Proceedings. Civil Action In December 2012, OMT became an indirect subsidiary of LMI as a result of LMI’s acquisition of Valent Aerostructures, LLC (“Valent”) from the former equity owners of Valent, including Tech Investments, LLC and Tech Investments II, LLC (together, “Tech”). Also as a result of the transaction, Tech became the beneficial owners of approximately 5.5% of LMI’s common stock. Pursuant to the terms of the purchase agreement, as amended (the “Valent Purchase Agreement”), $5,000 of the purchase price remained subject to an indemnification escrow arrangement (the “Escrow Funds”) and 783,798 shares of LMI’s common stock issued as part of the purchase price were subject to indemnification lock-up agreements (the “Locked-Up Shares”). On September 22, 2015, LMI and the former equity owners of Valent (the “Parties”) submitted to mediation and executed an agreement setting forth terms of a settlement with respect to the resolution of certain indemnification claims and other disputes involving, among other things, the OMT matters discussed above, and on November 5, 2015, the Parties executed the definitive settlement documents (the agreement and documents collectively being referred to as the “Settlement Agreements”). The claims and disputes resolved by the settlement had become the subject of legal proceedings that commenced with the filing of a declaratory action by Tech in December 2014 (the “Tech Lawsuit”). Pursuant to the terms of the Settlement Agreements, (a) the Tech Lawsuit will be dismissed with prejudice, (b) $3,109 of the Escrow Funds will be disbursed to the Company and the remaining amount of Escrow Funds will be retained by Tech, (c) Tech has assumed an approximate $1,167 payment obligation of the Company to a predecessor owner of OMT that remained under a purchase agreement the Company acquired as part of the Company’s acquisition of Valent; (d) the Locked-up Shares will be released to Tech, excluding any portion needed to secure Tech’s obligation described in subsection (c) above; and (e) all parties entered into a mutual release of claims and disputes other than those based on certain environmental representations of the former equity owners of Valent under the Valent Purchase Agreement. The settlement also resulted in the Company assuming other liabilities of $484, recording the write-off of a previously recorded receivable of $389 and recording other expenses of $68. The net impact of the settlement resulted in a gain of $3,325 which is recorded in selling, general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements (Notes)	9 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements LMI Aerospace, Inc. excluding its subsidiaries (“LMIA”) is the parent company, issuer and obligor of the second-priority senior notes due June 19, 2019 (the “Notes”). The payment obligations of LMIA under the Notes are guaranteed and secured by LMIA and all of its subsidiaries other than minor subsidiaries as further described below. These Notes are guaranteed on a second-priority senior secured basis, jointly and severally, by LMIA (“Guarantor Parent”) and all of its existing and future 100% owned subsidiaries (collectively, the “Guarantor Subsidiaries”) other than minor subsidiaries. Such guaranties are full and unconditional. LMIA conducts substantially all of its business through and derives virtually all of its income from its subsidiaries. Therefore, its ability to make required principal and interest payments with respect to its indebtedness depends on the earnings of subsidiaries and its ability to receive funds from its subsidiaries. The Notes are secured on a second-priority basis by liens on substantially all of LMIA’s and the Guarantor Subsidiaries’ assets, subject to certain exceptions and permitted liens. The liens securing the notes are contractually subordinated to the liens that secure indebtedness under the revolving credit facility as a result of the lien subordination provisions of the intercreditor agreement to the extent of the value of the collateral securing such indebtedness as well as being subordinated by other existing indebtedness, including industrial revenue bonds, capital leases and other notes payable, to the extent of the value of the collateral that secures such existing indebtedness. As a consequence of this lien subordination and existing indebtedness the Notes and the guarantees are effectively subordinated to the extent of the value of the collateral that secures them. Decisions regarding the maintenance and release of the collateral secured by the collateral agreement are made by the lenders under the modified revolving credit facility, and neither the indenture trustee nor the holders of the Notes have control of decisions regarding the release of collateral. We have not presented separate financial statements and separate disclosures have not been provided concerning the Guarantor Subsidiaries due to the presentation of condensed consolidating financial information set forth in this Note, consistent with the Securities and Exchange Commission (the “SEC”) interpretations governing reporting of subsidiary financial information. Supplemental condensed consolidating financial information of the Company, including such information for the Guarantor Subsidiaries, is presented below. Investments in subsidiaries are presented using the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries and inter-company balances and transactions. CONDENSED CONSOLIDATING BALANCE SHEET as of September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ — $ 476 $ — $ 476 Trade accounts receivable, net 2,063 59,326 — 61,389 Intercompany receivables 178,197 156,183 (334,380 ) — Inventories — 118,877 — 118,877 Prepaid expenses and other current assets 8,342 2,488 — 10,830 Deferred income taxes — 3,924 (149 ) 3,775 Total current assets 188,602 341,274 (334,529 ) 195,347 Property, plant and equipment, net 3,818 97,284 — 101,102 Investments in subsidiaries 378,500 — (378,500 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 47,671 — 47,671 Deferred income taxes 149 — (149 ) — Other assets 7,346 1,625 — 8,971 Total assets $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 465 $ 17,496 $ — $ 17,961 Accrued expenses 11,626 13,008 — 24,634 Intercompany Payables 197,753 136,627 (334,380 ) $ — Deferred income taxes 149 — (149 ) — Current installments of long-term debt and capital lease obligations 148 3,409 — 3,557 Total current liabilities 210,141 170,540 (334,529 ) 46,152 Long-term debt and capital lease obligations, less current installments 249,110 18,497 — 267,607 Other long-term liabilities 304 2,797 — 3,101 Deferred income taxes — 4,304 (149 ) 4,155 Total long-term liabilities 249,414 25,598 (149 ) 274,863 Total shareholders’ equity 118,860 378,500 (378,500 ) 118,860 Total liabilities and shareholders’ equity $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 CONDENSED CONSOLIDATING BALANCE SHEET as of December 31, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ 7,058 $ 869 $ — $ 7,927 Trade accounts receivable, net 1,310 56,924 — 58,234 Intercompany receivables 145,980 145,223 (291,203 ) $ — Inventories — 114,279 — 114,279 Prepaid expenses and other current assets 8,325 1,930 — 10,255 Deferred income taxes — 4,031 (118 ) 3,913 Total current assets 162,673 323,256 (291,321 ) 194,608 Property, plant and equipment, net 3,148 96,334 — 99,482 Investments in subsidiaries 368,587 — (368,587 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 50,940 — 50,940 Deferred income taxes 118 — (118 ) — Other assets 8,743 1,879 — 10,622 Total assets $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 1,339 $ 20,416 $ — $ 21,755 Accrued expenses 13,679 12,393 — 26,072 Intercompany Payables 164,158 127,045 (291,203 ) $ — Deferred income taxes 118 — (118 ) — Current installments of long-term debt and capital lease obligations 335 3,089 — 3,424 Total current liabilities 179,629 162,943 (291,321 ) 51,251 Long-term debt and capital lease obligations, less current installments 245,174 20,380 — 265,554 Other long-term liabilities 331 2,958 — 3,289 Deferred income taxes — 4,325 (118 ) 4,207 Total long-term liabilities 245,505 27,663 (118 ) 273,050 Total shareholders’ equity 118,135 368,587 (368,587 ) 118,135 Total liabilities and shareholders’ equity $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 4 $ 84,099 $ 11 $ 84,114 Service revenues 7,640 11,545 (7,666 ) 11,519 Net sales 7,644 95,644 (7,655 ) 95,633 Cost of sales and service revenue Cost of product sales 27 67,476 11 67,514 Cost of service revenues 7,991 11,166 (7,664 ) 11,493 Cost of sales 8,018 78,642 (7,653 ) 79,007 Gross profit (374 ) 17,002 (2 ) 16,626 Selling, general and administrative expenses 8,979 8,979 Restructuring expense — 1,575 — 1,575 (Loss) income from operations (374 ) 6,448 (2 ) 6,072 Other income (expense): Interest expense (5,389 ) (264 ) — (5,653 ) Other, net (1 ) (135 ) — (136 ) Income (loss) from equity investments in subsidiaries 3,541 — (3,541 ) — Total other expense (1,849 ) (399 ) (3,541 ) (5,789 ) (Loss) income before income taxes (2,223 ) 6,049 (3,543 ) 283 (Benefit) provision for income taxes (2,227 ) 2,476 — 249 Net (loss) income 4 3,573 (3,543 ) 34 Other comprehensive income (loss): Change in foreign currency translation adjustment — (32 ) — (32 ) Total comprehensive (loss) income $ 4 $ 3,541 $ (3,543 ) $ 2 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ (68 ) $ 81,724 $ 37 $ 81,693 Service revenues 9,172 15,620 (9,150 ) 15,642 Net sales 9,104 97,344 (9,113 ) 97,335 Cost of sales and service revenue Cost of product sales 40 61,458 37 61,535 Cost of service revenues 9,106 13,803 (9,152 ) 13,757 Cost of sales 9,146 75,261 (9,115 ) 75,292 Gross profit (42 ) 22,083 2 22,043 Selling, general and administrative expenses 421 14,194 — 14,615 Restructuring expense 533 232 — 765 (Loss) income from operations (996 ) 7,657 2 6,663 Other income (expense): Interest expense (5,662 ) (284 ) — (5,946 ) Other, net 11 (86 ) — (75 ) Income (loss) from equity investments in subsidiaries 4,874 — (4,874 ) — Total other expense (777 ) (370 ) (4,874 ) (6,021 ) (Loss) income before income taxes (1,773 ) 7,287 (4,872 ) 642 (Benefit) provision for income taxes (3,054 ) 2,300 — (754 ) Net (loss) income 1,281 4,987 (4,872 ) 1,396 Other comprehensive income (loss): Change in foreign currency translation adjustment — (112 ) — (112 ) Reclassification adjustment for losses on interest rate hedges included in net earnings — — — — Total comprehensive (loss) income $ 1,281 $ 4,875 $ (4,872 ) $ 1,284 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 207 $ 246,699 $ (176 ) $ 246,730 Service revenues 26,729 38,942 (26,743 ) 38,928 Net sales 26,936 285,641 (26,919 ) 285,658 Cost of sales and service revenue Cost of product sales 214 197,173 (176 ) 197,211 Cost of service revenues 27,440 35,155 (26,742 ) 35,853 Cost of sales 27,654 232,328 (26,918 ) 233,064 Gross profit (718 ) 53,313 (1 ) 52,594 Selling, general and administrative expenses — 33,980 — 33,980 Restructuring expense 318 2,050 — 2,368 Acquisitions expense — — — — (Loss) income from operations (1,036 ) 17,283 (1 ) 16,246 Other income (expense): Interest expense (16,029 ) (773 ) — (16,802 ) Other, net (1 ) (88 ) — (89 ) Income (loss) from equity investments in subsidiaries 9,914 — (9,914 ) — Total other expense (6,116 ) (861 ) (9,914 ) (16,891 ) (Loss) income before income taxes (7,152 ) 16,422 (9,915 ) (645 ) (Benefit) provision for income taxes (6,069 ) 6,477 — 408 Net (loss) income (1,083 ) 9,945 (9,915 ) (1,053 ) Other comprehensive income (loss): Change in foreign currency translation adjustment — (31 ) — (31 ) Total comprehensive (loss) income $ (1,083 ) $ 9,914 $ (9,915 ) $ (1,084 ) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 617 $ 245,327 $ (595 ) $ 245,349 Service revenues 28,474 53,688 (28,488 ) 53,674 Net sales 29,091 299,015 (29,083 ) 299,023 Cost of sales and service revenue Cost of product sales 699 195,066 (595 ) 195,170 Cost of service revenues 28,330 45,372 (28,487 ) 45,215 Cost of sales 29,029 240,438 (29,082 ) 240,385 Gross profit 62 58,577 (1 ) 58,638 Selling, general and administrative expenses 421 41,349 — 41,770 Restructuring expense 967 1,321 — 2,288 (Loss) income from operations (1,326 ) 15,907 (1 ) 14,580 Other income (expense): Interest expense (22,972 ) (828 ) — (23,800 ) Other, net 81 124 — 205 Income (loss) from equity investments in subsidiaries 9,571 — (9,571 ) — Total other expense (13,320 ) (704 ) (9,571 ) (23,595 ) (Loss) income before income taxes (14,646 ) 15,203 (9,572 ) (9,015 ) (Benefit) provision for income taxes (8,171 ) 5,614 — (2,557 ) Net (loss) income (6,475 ) 9,589 (9,572 ) (6,458 ) Other comprehensive income (loss): Change in foreign currency translation adjustment — (18 ) — (18 ) Reclassification adjustment for losses on interest rate hedges included in net earnings 278 — — 278 Total comprehensive (loss) income $ (6,197 ) $ 9,571 $ (9,572 ) $ (6,198 ) CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (1,083 ) $ 9,945 $ (9,915 ) $ (1,053 ) Adjustments for non-cash items (7,572 ) 13,927 9,915 16,270 Net changes in operating assets and liabilities, net of acquired businesses (1,616 ) (7,884 ) — (9,500 ) Intercompany activity 1,379 (1,379 ) — — Net cash (used)/provided by operating activities (8,892 ) 14,609 — 5,717 Investing activities: Additions to property, plant and equipment (1,606 ) (13,699 ) — (15,305 ) Proceeds from sale of equipment — 260 — 260 Net cash used by investing activities (1,606 ) (13,439 ) — (15,045 ) Financing activities: Principal payments on long-term debt and notes payable (251 ) (1,563 ) — (1,814 ) Advances on revolving line of credit 93,500 — — 93,500 Payments on revolving line of credit (89,500 ) — — (89,500 ) Payments for debt issuance cost (309 ) — — (309 ) Net cash provided (used) by financing activities 3,440 (1,563 ) — 1,877 Net (decrease) increase in cash and cash equivalents (7,058 ) (393 ) — (7,451 ) Cash and cash equivalents, beginning of period 7,058 869 — 7,927 Cash and cash equivalents, end of period $ — $ 476 $ — $ 476 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (6,475 ) $ 9,589 $ (9,572 ) $ (6,458 ) Adjustments for non-cash items 2,195 14,408 9,572 26,175 Net changes in operating assets and liabilities, net of acquired businesses 21,296 (4,997 ) — 16,299 Intercompany activity 6,794 (6,794 ) — — Net cash (used)/provided by operating activities 23,810 12,206 — 36,016 Investing activities: Additions to property, plant and equipment (704 ) (9,598 ) — (10,302 ) Acquisitions, net of cash acquired — — — — Proceeds from sale of equipment 4 977 — 981 Net cash used by investing activities (700 ) (8,621 ) — (9,321 ) Financing activities: Proceeds from issuance of debt 250,000 — — 250,000 Principal payments on long-term debt and notes payable (228,180 ) (3,718 ) — (231,898 ) Advances on revolving line of credit 60,000 — — 60,000 Payments on revolving line of credit (96,000 ) — — (96,000 ) Payments for debt issuance cost (7,881 ) — — (7,881 ) Other, net (28 ) — — (28 ) Net cash provided (used) by financing activities (22,089 ) (3,718 ) — (25,807 ) Net (decrease) increase in cash and cash equivalents 1,021 (133 ) — 888 Cash and cash equivalents, beginning of period 405 1,167 — 1,572 Cash and cash equivalents, end of period $ 1,426 $ 1,034 $ — $ 2,460

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair representation have been included. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . These financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in the Annual Report on Form 10-K of LMI Aerospace, Inc. (the "Company”) for the year ended December 31, 2014 , as filed with the Securities and Exchange Commission on March 16, 2015.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from these estimates.
Recent Accounting Standards	Recent Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). On July 9, 2015 the FASB voted to approve a one year delay of the effective date and to permit companies to voluntarily adopt the new standard as of the original effective date. The new standard is effective for reporting periods beginning after December 15, 2017. The standard will supersede existing revenue recognition guidance, including industry-specific guidance, and will provide companies with a single revenue recognition model for recognizing revenue from contracts with customers. The standard requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. The provisions of this new guidance are effective as of the beginning of the Company’s first quarter of 2018. The Company is currently evaluating the transition method to be used and the impact of adoption of this standard on its consolidated financial statements. In April 2014, the FASB issued ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." The amendments in this update change the requirements for reporting discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results and when the component or group of components meets the criteria to be classified as held for sale, is disposed by sale or is disposed of by other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). ASU 2014-8 is effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014. The Company has no present activity that would be impacted by this new standard. In April 2015, the FASB issued ASU 2015-03, "Interest-Imputation of Interest", which requires that debt issuance costs related to a debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. FASB ASU 2015-03 is effective for annual and interim periods beginning after December 15, 2015 and requires the Company to apply the new guidance on a retrospective basis upon adoption. The adoption of FASB ASU 2015-03 is not expected to have a material impact on the Company’s consolidated financial statements. All other issued but not yet effective accounting pronouncements are not expected to have a material impact on our Condensed Consolidated Financial Statements.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Schedule of accounts receivable, net	Accounts receivable, net consists of the following: September 30, 2015 December 31, 2014 Trade receivables $ 49,741 $ 53,081 Unbilled revenue 6,004 4,036 Other receivables (1) 5,870 1,581 61,615 58,698 Less: Allowance for doubtful accounts (226 ) (464 ) Accounts receivable, net $ 61,389 $ 58,234 (1) At September 30, 2015, includes $4,266 related to the settlement of a lawsuit in the third quarter of 2015. See Note 14, "Legal Contingencies," in the Notes to the Condensed Consolidated Financial Statements.
Impact of operating income	Cumulative catch-up adjustments had the following impacts to operating income for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Favorable adjustments $ 96 $ 4,898 $ 554 $ 5,620 Unfavorable adjustments (2,183 ) (545 ) (2,214 ) (727 ) Net favorable (unfavorable) operating income adjustments $ (2,087 ) $ 4,353 $ (1,660 ) $ 4,893 The unfavorable cumulative catch-up adjustments recorded in the third quarter of 2015 primarily related to higher projected engineering costs, identified in the third quarter of 2015, which are required to meet customer specifications on the Mitsubishi Regional Jet design-build program. The adjustment related to this program was $1,738 and was recorded as a reduction of revenue in the Consolidated Statements of Comprehensive Income (Loss). The favorable cumulative adjustments recorded in the third quarter of 2014 related to the reversal of a loss reserve. This adjustment was recognized after the Company settlement of an unpriced change order and secured more favorable future material pricing with respect to this contract. The impact of reversing the loss reserve was $4,602 and $5,267 for the three and nine months ended September 30, 2014 and was recorded in the cost of goods sold section of the Consolidated Statements of Comprehensive Income (Loss).

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: September 30, 2015 December 31, 2014 Raw materials $ 14,606 $ 16,712 Work in progress 23,915 22,960 Manufactured and purchased components 20,016 21,296 Finished goods 29,253 32,403 Product inventory 87,790 93,371 Capitalized contract costs 31,087 20,908 Total inventories $ 118,877 $ 114,279

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	The following table summarizes the net carrying amount of goodwill by segment at September 30, 2015 and December 31, 2014 , respectively: Engineering Aerostructures Services Total September 30, December 31, September 30, December 31, September 30, December 31, 2015 2014 2015 2014 2015 2014 Balance at: Gross Goodwill $ 141,953 $ 141,953 $ 50,741 $ 50,741 $ 192,694 $ 192,694 Accumulated impairment loss (79,471 ) (79,471 ) (26,439 ) (26,439 ) (105,910 ) (105,910 ) Net Goodwill $ 62,482 $ 62,482 $ 24,302 $ 24,302 $ 86,784 $ 86,784
Finite and infinite lived intangible assets	Intangible assets primarily consist of trademarks and customer intangibles. The carrying values were as follows: September 30, 2015 December 31, 2014 Trademarks $ 778 $ 778 Customer intangible assets 68,991 68,991 Other 1,274 1,274 Accumulated amortization (23,372 ) (20,103 ) Intangible assets, net $ 47,671 $ 50,940

Other Assets Other Assets (Tabl

Other Assets Other Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Other Assets, Noncurrent [Abstract]
Schedule of Other Assets, Non current [Table Text Block]	Other assets consist of the following: September 30, 2015 December 31, 2014 Debt issuance cost, net $ 7,353 $ 8,600 Other 1,618 2,022 Total other assets $ 8,971 $ 10,622 In connection with the financing of its long-term indebtedness, the Company incurred debt issuance costs of $10,001 . These costs are being amortized on a straight-line basis, which approximates the effective interest method, over the term of the indebtedness.

Long-term Debt and Capital Le27

Long-term Debt and Capital Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-term debt	Long-term debt and capital lease obligations consist of the following: September 30, 2015 December 31, 2014 Second priority senior secured notes at a fixed rate of 7.375% at September 30, 2015 $ 245,000 $ 245,000 Revolver under credit agreement, variable 4,000 — Missouri IRBs at fixed rate of 2.80% at September 30, 2015 and December 31, 2014 7,011 7,334 Capital leases, at fixed rates ranging from 2.04% to 7.73% at September 30, 2015 and December 31, 2014 12,125 13,288 Notes payable, principal and interest payable monthly, at fixed rates up to 2.56% at September 30, 2015 and December 31, 2014, respectively 3,028 3,356 Total debt $ 271,164 $ 268,978 Less current installments 3,557 3,424 Total long-term debt and capital lease obligations $ 267,607 $ 265,554

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Recognized in the AOCI and Earnings	The following amounts are included in OCI and earnings for the three and nine months ended September 30, 2015 and September 30, 2014 : Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Interest Rate Derivatives in Cash Flow Hedging Relationship Amount of Gain (Loss) Recognized in AOCI, net of tax, on Derivative (Effective Portion) $ — $ — $ — $ — Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion) $ — $ — $ — $ 793

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Calculation of basic and diluted earnings per share	The following table shows a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share. Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerators Net income (loss) $ 34 $ 1,396 $ (1,053 ) $ (6,458 ) Denominators Weighted average common shares - basic 12,907,938 12,740,034 12,851,456 12,704,568 Dilutive effect of restricted stock 142,300 147,329 — — Weighted average common shares - diluted 13,050,238 12,887,363 12,851,456 12,704,568 Basic earnings (loss) per share $ 0.00 $ 0.11 $ (0.08 ) $ (0.51 ) Diluted earnings (loss) per share $ 0.00 $ 0.11 $ (0.08 ) $ (0.51 ) For the nine months ended September 30, 2015 and September 30, 2014 , 216,872 and 145,710 shares, respectively, are not included in the calculation of diluted earnings per share, as their inclusion would have been anti-dilutive. These securities could be dilutive in future periods.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
LMI Aerospace, Inc. 2005 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of the activity for non-vested restricted stock awards	A summary of the activity for non-vested restricted stock awards under the 2005 Plan is presented below: Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 296,782 $ 16.58 Granted 131,703 13.22 Vested (131,986 ) 17.57 Forfeited (34,411 ) 15.35 Outstanding at September 30, 2015 262,088 $ 14.56
LMI Aerospace, Inc. 2015 Long-term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of the activity for non-vested restricted stock awards	A summary of the activity for non-vested restricted stock awards under the 2015 Plan is presented below: Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2015 — $ — Granted 61,801 9.79 Vested — — Forfeited — — Outstanding at September 30, 2015 61,801 $ 9.79

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Information about reported segments on the basis used internally to evaluate segment performance	The table below presents information about reported segments on the same basis used internally to evaluate segment performance: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net sales: Aerostructures $ 85,119 $ 82,914 $ 249,661 $ 249,101 Engineering Services 10,826 14,714 36,818 51,235 Eliminations (312 ) (293 ) (821 ) (1,313 ) $ 95,633 $ 97,335 $ 285,658 $ 299,023 Income from operations: Aerostructures $ 8,918 $ 7,888 $ 20,063 $ 14,010 Engineering Services (2,805 ) (1,216 ) (3,803 ) 666 Eliminations (41 ) (9 ) (14 ) (96 ) $ 6,072 $ 6,663 $ 16,246 $ 14,580

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring costs [Table Text Block]	Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Precise Machine facility closure $ — $ (18 ) $ — $ 287 Savannah machining operations relocation — — — 47 St. Charles machine parts operations relocation — — 378 — Coweta machining facility closure 64 — 64 — Greenville office closure 501 — 501 — Australia office closure 34 — 34 — Other employment separation activities 976 783 1,391 1,954 Total $ 1,575 $ 765 $ 2,368 $ 2,288
Summary of incurred and expected restructuring charges	The following table summarizes the incurred and expected charges associated with these restructuring activities: Expense Remaining Total Expense Incurred through Expense to be Expected to be September 30, 2015 Incurred Incurred Employee severance arrangement - Precise $ 615 $ — $ 615 Employee severance arrangement - Savannah 47 — 47 Employee severance arrangement - St. Charles 378 — 378 Employee severance arrangement - Coweta 64 28 92 Employee severance arrangement - Greenville 376 — 376 Employee severance arrangement - Australia 34 — 34 Other employee severance arrangements 3,529 — 3,529 Lease termination costs - Precise 124 — 124 Lease termination costs - Greenville 125 — 125 Other restructuring expenses 115 — 115 Total $ 5,407 $ 28 $ 5,435
Schedule of restructuring activity	The following table summarizes the Company's restructuring activities during the nine months ended September 30, 2015 : Employee Severance Accrued restructuring balance as of December 31, 2014 $ 739 Accrual additions 2,368 Cash payments (2,175 ) Accrued restructuring balance as of September 30, 2015 $ 932

Condensed Consolidating Finan33

Condensed Consolidating Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Income Statements, Captions [Line Items]
Condensed Consolidating Balance Sheet	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ — $ 476 $ — $ 476 Trade accounts receivable, net 2,063 59,326 — 61,389 Intercompany receivables 178,197 156,183 (334,380 ) — Inventories — 118,877 — 118,877 Prepaid expenses and other current assets 8,342 2,488 — 10,830 Deferred income taxes — 3,924 (149 ) 3,775 Total current assets 188,602 341,274 (334,529 ) 195,347 Property, plant and equipment, net 3,818 97,284 — 101,102 Investments in subsidiaries 378,500 — (378,500 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 47,671 — 47,671 Deferred income taxes 149 — (149 ) — Other assets 7,346 1,625 — 8,971 Total assets $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 465 $ 17,496 $ — $ 17,961 Accrued expenses 11,626 13,008 — 24,634 Intercompany Payables 197,753 136,627 (334,380 ) $ — Deferred income taxes 149 — (149 ) — Current installments of long-term debt and capital lease obligations 148 3,409 — 3,557 Total current liabilities 210,141 170,540 (334,529 ) 46,152 Long-term debt and capital lease obligations, less current installments 249,110 18,497 — 267,607 Other long-term liabilities 304 2,797 — 3,101 Deferred income taxes — 4,304 (149 ) 4,155 Total long-term liabilities 249,414 25,598 (149 ) 274,863 Total shareholders’ equity 118,860 378,500 (378,500 ) 118,860 Total liabilities and shareholders’ equity $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 CONDENSED CONSOLIDATING BALANCE SHEET as of December 31, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ 7,058 $ 869 $ — $ 7,927 Trade accounts receivable, net 1,310 56,924 — 58,234 Intercompany receivables 145,980 145,223 (291,203 ) $ — Inventories — 114,279 — 114,279 Prepaid expenses and other current assets 8,325 1,930 — 10,255 Deferred income taxes — 4,031 (118 ) 3,913 Total current assets 162,673 323,256 (291,321 ) 194,608 Property, plant and equipment, net 3,148 96,334 — 99,482 Investments in subsidiaries 368,587 — (368,587 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 50,940 — 50,940 Deferred income taxes 118 — (118 ) — Other assets 8,743 1,879 — 10,622 Total assets $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 1,339 $ 20,416 $ — $ 21,755 Accrued expenses 13,679 12,393 — 26,072 Intercompany Payables 164,158 127,045 (291,203 ) $ — Deferred income taxes 118 — (118 ) — Current installments of long-term debt and capital lease obligations 335 3,089 — 3,424 Total current liabilities 179,629 162,943 (291,321 ) 51,251 Long-term debt and capital lease obligations, less current installments 245,174 20,380 — 265,554 Other long-term liabilities 331 2,958 — 3,289 Deferred income taxes — 4,325 (118 ) 4,207 Total long-term liabilities 245,505 27,663 (118 ) 273,050 Total shareholders’ equity 118,135 368,587 (368,587 ) 118,135 Total liabilities and shareholders’ equity $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ — $ 476 $ — $ 476 Trade accounts receivable, net 2,063 59,326 — 61,389 Intercompany receivables 178,197 156,183 (334,380 ) — Inventories — 118,877 — 118,877 Prepaid expenses and other current assets 8,342 2,488 — 10,830 Deferred income taxes — 3,924 (149 ) 3,775 Total current assets 188,602 341,274 (334,529 ) 195,347 Property, plant and equipment, net 3,818 97,284 — 101,102 Investments in subsidiaries 378,500 — (378,500 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 47,671 — 47,671 Deferred income taxes 149 — (149 ) — Other assets 7,346 1,625 — 8,971 Total assets $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 465 $ 17,496 $ — $ 17,961 Accrued expenses 11,626 13,008 — 24,634 Intercompany Payables 197,753 136,627 (334,380 ) $ — Deferred income taxes 149 — (149 ) — Current installments of long-term debt and capital lease obligations 148 3,409 — 3,557 Total current liabilities 210,141 170,540 (334,529 ) 46,152 Long-term debt and capital lease obligations, less current installments 249,110 18,497 — 267,607 Other long-term liabilities 304 2,797 — 3,101 Deferred income taxes — 4,304 (149 ) 4,155 Total long-term liabilities 249,414 25,598 (149 ) 274,863 Total shareholders’ equity 118,860 378,500 (378,500 ) 118,860 Total liabilities and shareholders’ equity $ 578,415 $ 574,638 $ (713,178 ) $ 439,875
Condensed Consolidating Statements of Comprehensive Income (Loss)	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 207 $ 246,699 $ (176 ) $ 246,730 Service revenues 26,729 38,942 (26,743 ) 38,928 Net sales 26,936 285,641 (26,919 ) 285,658 Cost of sales and service revenue Cost of product sales 214 197,173 (176 ) 197,211 Cost of service revenues 27,440 35,155 (26,742 ) 35,853 Cost of sales 27,654 232,328 (26,918 ) 233,064 Gross profit (718 ) 53,313 (1 ) 52,594 Selling, general and administrative expenses — 33,980 — 33,980 Restructuring expense 318 2,050 — 2,368 Acquisitions expense — — — — (Loss) income from operations (1,036 ) 17,283 (1 ) 16,246 Other income (expense): Interest expense (16,029 ) (773 ) — (16,802 ) Other, net (1 ) (88 ) — (89 ) Income (loss) from equity investments in subsidiaries 9,914 — (9,914 ) — Total other expense (6,116 ) (861 ) (9,914 ) (16,891 ) (Loss) income before income taxes (7,152 ) 16,422 (9,915 ) (645 ) (Benefit) provision for income taxes (6,069 ) 6,477 — 408 Net (loss) income (1,083 ) 9,945 (9,915 ) (1,053 ) Other comprehensive income (loss): Change in foreign currency translation adjustment — (31 ) — (31 ) Total comprehensive (loss) income $ (1,083 ) $ 9,914 $ (9,915 ) $ (1,084 ) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 4 $ 84,099 $ 11 $ 84,114 Service revenues 7,640 11,545 (7,666 ) 11,519 Net sales 7,644 95,644 (7,655 ) 95,633 Cost of sales and service revenue Cost of product sales 27 67,476 11 67,514 Cost of service revenues 7,991 11,166 (7,664 ) 11,493 Cost of sales 8,018 78,642 (7,653 ) 79,007 Gross profit (374 ) 17,002 (2 ) 16,626 Selling, general and administrative expenses 8,979 8,979 Restructuring expense — 1,575 — 1,575 (Loss) income from operations (374 ) 6,448 (2 ) 6,072 Other income (expense): Interest expense (5,389 ) (264 ) — (5,653 ) Other, net (1 ) (135 ) — (136 ) Income (loss) from equity investments in subsidiaries 3,541 — (3,541 ) — Total other expense (1,849 ) (399 ) (3,541 ) (5,789 ) (Loss) income before income taxes (2,223 ) 6,049 (3,543 ) 283 (Benefit) provision for income taxes (2,227 ) 2,476 — 249 Net (loss) income 4 3,573 (3,543 ) 34 Other comprehensive income (loss): Change in foreign currency translation adjustment — (32 ) — (32 ) Total comprehensive (loss) income $ 4 $ 3,541 $ (3,543 ) $ 2 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ (68 ) $ 81,724 $ 37 $ 81,693 Service revenues 9,172 15,620 (9,150 ) 15,642 Net sales 9,104 97,344 (9,113 ) 97,335 Cost of sales and service revenue Cost of product sales 40 61,458 37 61,535 Cost of service revenues 9,106 13,803 (9,152 ) 13,757 Cost of sales 9,146 75,261 (9,115 ) 75,292 Gross profit (42 ) 22,083 2 22,043 Selling, general and administrative expenses 421 14,194 — 14,615 Restructuring expense 533 232 — 765 (Loss) income from operations (996 ) 7,657 2 6,663 Other income (expense): Interest expense (5,662 ) (284 ) — (5,946 ) Other, net 11 (86 ) — (75 ) Income (loss) from equity investments in subsidiaries 4,874 — (4,874 ) — Total other expense (777 ) (370 ) (4,874 ) (6,021 ) (Loss) income before income taxes (1,773 ) 7,287 (4,872 ) 642 (Benefit) provision for income taxes (3,054 ) 2,300 — (754 ) Net (loss) income 1,281 4,987 (4,872 ) 1,396 Other comprehensive income (loss): Change in foreign currency translation adjustment — (112 ) — (112 ) Reclassification adjustment for losses on interest rate hedges included in net earnings — — — — Total comprehensive (loss) income $ 1,281 $ 4,875 $ (4,872 ) $ 1,284 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 4 $ 84,099 $ 11 $ 84,114 Service revenues 7,640 11,545 (7,666 ) 11,519 Net sales 7,644 95,644 (7,655 ) 95,633 Cost of sales and service revenue Cost of product sales 27 67,476 11 67,514 Cost of service revenues 7,991 11,166 (7,664 ) 11,493 Cost of sales 8,018 78,642 (7,653 ) 79,007 Gross profit (374 ) 17,002 (2 ) 16,626 Selling, general and administrative expenses 8,979 8,979 Restructuring expense — 1,575 — 1,575 (Loss) income from operations (374 ) 6,448 (2 ) 6,072 Other income (expense): Interest expense (5,389 ) (264 ) — (5,653 ) Other, net (1 ) (135 ) — (136 ) Income (loss) from equity investments in subsidiaries 3,541 — (3,541 ) — Total other expense (1,849 ) (399 ) (3,541 ) (5,789 ) (Loss) income before income taxes (2,223 ) 6,049 (3,543 ) 283 (Benefit) provision for income taxes (2,227 ) 2,476 — 249 Net (loss) income 4 3,573 (3,543 ) 34 Other comprehensive income (loss): Change in foreign currency translation adjustment — (32 ) — (32 ) Total comprehensive (loss) income $ 4 $ 3,541 $ (3,543 ) $ 2	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Sales and service revenue Product sales $ 617 $ 245,327 $ (595 ) $ 245,349 Service revenues 28,474 53,688 (28,488 ) 53,674 Net sales 29,091 299,015 (29,083 ) 299,023 Cost of sales and service revenue Cost of product sales 699 195,066 (595 ) 195,170 Cost of service revenues 28,330 45,372 (28,487 ) 45,215 Cost of sales 29,029 240,438 (29,082 ) 240,385 Gross profit 62 58,577 (1 ) 58,638 Selling, general and administrative expenses 421 41,349 — 41,770 Restructuring expense 967 1,321 — 2,288 (Loss) income from operations (1,326 ) 15,907 (1 ) 14,580 Other income (expense): Interest expense (22,972 ) (828 ) — (23,800 ) Other, net 81 124 — 205 Income (loss) from equity investments in subsidiaries 9,571 — (9,571 ) — Total other expense (13,320 ) (704 ) (9,571 ) (23,595 ) (Loss) income before income taxes (14,646 ) 15,203 (9,572 ) (9,015 ) (Benefit) provision for income taxes (8,171 ) 5,614 — (2,557 ) Net (loss) income (6,475 ) 9,589 (9,572 ) (6,458 ) Other comprehensive income (loss): Change in foreign currency translation adjustment — (18 ) — (18 ) Reclassification adjustment for losses on interest rate hedges included in net earnings 278 — — 278 Total comprehensive (loss) income $ (6,197 ) $ 9,571 $ (9,572 ) $ (6,198 )
Condensed Consolidating Cash Flow Statement	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (1,083 ) $ 9,945 $ (9,915 ) $ (1,053 ) Adjustments for non-cash items (7,572 ) 13,927 9,915 16,270 Net changes in operating assets and liabilities, net of acquired businesses (1,616 ) (7,884 ) — (9,500 ) Intercompany activity 1,379 (1,379 ) — — Net cash (used)/provided by operating activities (8,892 ) 14,609 — 5,717 Investing activities: Additions to property, plant and equipment (1,606 ) (13,699 ) — (15,305 ) Proceeds from sale of equipment — 260 — 260 Net cash used by investing activities (1,606 ) (13,439 ) — (15,045 ) Financing activities: Principal payments on long-term debt and notes payable (251 ) (1,563 ) — (1,814 ) Advances on revolving line of credit 93,500 — — 93,500 Payments on revolving line of credit (89,500 ) — — (89,500 ) Payments for debt issuance cost (309 ) — — (309 ) Net cash provided (used) by financing activities 3,440 (1,563 ) — 1,877 Net (decrease) increase in cash and cash equivalents (7,058 ) (393 ) — (7,451 ) Cash and cash equivalents, beginning of period 7,058 869 — 7,927 Cash and cash equivalents, end of period $ — $ 476 $ — $ 476	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (1,083 ) $ 9,945 $ (9,915 ) $ (1,053 ) Adjustments for non-cash items (7,572 ) 13,927 9,915 16,270 Net changes in operating assets and liabilities, net of acquired businesses (1,616 ) (7,884 ) — (9,500 ) Intercompany activity 1,379 (1,379 ) — — Net cash (used)/provided by operating activities (8,892 ) 14,609 — 5,717 Investing activities: Additions to property, plant and equipment (1,606 ) (13,699 ) — (15,305 ) Proceeds from sale of equipment — 260 — 260 Net cash used by investing activities (1,606 ) (13,439 ) — (15,045 ) Financing activities: Principal payments on long-term debt and notes payable (251 ) (1,563 ) — (1,814 ) Advances on revolving line of credit 93,500 — — 93,500 Payments on revolving line of credit (89,500 ) — — (89,500 ) Payments for debt issuance cost (309 ) — — (309 ) Net cash provided (used) by financing activities 3,440 (1,563 ) — 1,877 Net (decrease) increase in cash and cash equivalents (7,058 ) (393 ) — (7,451 ) Cash and cash equivalents, beginning of period 7,058 869 — 7,927 Cash and cash equivalents, end of period $ — $ 476 $ — $ 476 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (6,475 ) $ 9,589 $ (9,572 ) $ (6,458 ) Adjustments for non-cash items 2,195 14,408 9,572 26,175 Net changes in operating assets and liabilities, net of acquired businesses 21,296 (4,997 ) — 16,299 Intercompany activity 6,794 (6,794 ) — — Net cash (used)/provided by operating activities 23,810 12,206 — 36,016 Investing activities: Additions to property, plant and equipment (704 ) (9,598 ) — (10,302 ) Acquisitions, net of cash acquired — — — — Proceeds from sale of equipment 4 977 — 981 Net cash used by investing activities (700 ) (8,621 ) — (9,321 ) Financing activities: Proceeds from issuance of debt 250,000 — — 250,000 Principal payments on long-term debt and notes payable (228,180 ) (3,718 ) — (231,898 ) Advances on revolving line of credit 60,000 — — 60,000 Payments on revolving line of credit (96,000 ) — — (96,000 ) Payments for debt issuance cost (7,881 ) — — (7,881 ) Other, net (28 ) — — (28 ) Net cash provided (used) by financing activities (22,089 ) (3,718 ) — (25,807 ) Net (decrease) increase in cash and cash equivalents 1,021 (133 ) — 888 Cash and cash equivalents, beginning of period 405 1,167 — 1,572 Cash and cash equivalents, end of period $ 1,426 $ 1,034 $ — $ 2,460

Condensed Consolidating Finan34

Condensed Consolidating Financial Statements Balance Sheet (Tables)	9 Months Ended
	Sep. 30, 2015
Statement of Financial Position [Abstract]
Condensed Balance Sheet [Table Text Block]	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ — $ 476 $ — $ 476 Trade accounts receivable, net 2,063 59,326 — 61,389 Intercompany receivables 178,197 156,183 (334,380 ) — Inventories — 118,877 — 118,877 Prepaid expenses and other current assets 8,342 2,488 — 10,830 Deferred income taxes — 3,924 (149 ) 3,775 Total current assets 188,602 341,274 (334,529 ) 195,347 Property, plant and equipment, net 3,818 97,284 — 101,102 Investments in subsidiaries 378,500 — (378,500 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 47,671 — 47,671 Deferred income taxes 149 — (149 ) — Other assets 7,346 1,625 — 8,971 Total assets $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 465 $ 17,496 $ — $ 17,961 Accrued expenses 11,626 13,008 — 24,634 Intercompany Payables 197,753 136,627 (334,380 ) $ — Deferred income taxes 149 — (149 ) — Current installments of long-term debt and capital lease obligations 148 3,409 — 3,557 Total current liabilities 210,141 170,540 (334,529 ) 46,152 Long-term debt and capital lease obligations, less current installments 249,110 18,497 — 267,607 Other long-term liabilities 304 2,797 — 3,101 Deferred income taxes — 4,304 (149 ) 4,155 Total long-term liabilities 249,414 25,598 (149 ) 274,863 Total shareholders’ equity 118,860 378,500 (378,500 ) 118,860 Total liabilities and shareholders’ equity $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 CONDENSED CONSOLIDATING BALANCE SHEET as of December 31, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ 7,058 $ 869 $ — $ 7,927 Trade accounts receivable, net 1,310 56,924 — 58,234 Intercompany receivables 145,980 145,223 (291,203 ) $ — Inventories — 114,279 — 114,279 Prepaid expenses and other current assets 8,325 1,930 — 10,255 Deferred income taxes — 4,031 (118 ) 3,913 Total current assets 162,673 323,256 (291,321 ) 194,608 Property, plant and equipment, net 3,148 96,334 — 99,482 Investments in subsidiaries 368,587 — (368,587 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 50,940 — 50,940 Deferred income taxes 118 — (118 ) — Other assets 8,743 1,879 — 10,622 Total assets $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 1,339 $ 20,416 $ — $ 21,755 Accrued expenses 13,679 12,393 — 26,072 Intercompany Payables 164,158 127,045 (291,203 ) $ — Deferred income taxes 118 — (118 ) — Current installments of long-term debt and capital lease obligations 335 3,089 — 3,424 Total current liabilities 179,629 162,943 (291,321 ) 51,251 Long-term debt and capital lease obligations, less current installments 245,174 20,380 — 265,554 Other long-term liabilities 331 2,958 — 3,289 Deferred income taxes — 4,325 (118 ) 4,207 Total long-term liabilities 245,505 27,663 (118 ) 273,050 Total shareholders’ equity 118,135 368,587 (368,587 ) 118,135 Total liabilities and shareholders’ equity $ 543,269 $ 559,193 $ (660,026 ) $ 442,436 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Assets Current assets: Cash and cash equivalents $ — $ 476 $ — $ 476 Trade accounts receivable, net 2,063 59,326 — 61,389 Intercompany receivables 178,197 156,183 (334,380 ) — Inventories — 118,877 — 118,877 Prepaid expenses and other current assets 8,342 2,488 — 10,830 Deferred income taxes — 3,924 (149 ) 3,775 Total current assets 188,602 341,274 (334,529 ) 195,347 Property, plant and equipment, net 3,818 97,284 — 101,102 Investments in subsidiaries 378,500 — (378,500 ) — Goodwill — 86,784 — 86,784 Intangible assets, net — 47,671 — 47,671 Deferred income taxes 149 — (149 ) — Other assets 7,346 1,625 — 8,971 Total assets $ 578,415 $ 574,638 $ (713,178 ) $ 439,875 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 465 $ 17,496 $ — $ 17,961 Accrued expenses 11,626 13,008 — 24,634 Intercompany Payables 197,753 136,627 (334,380 ) $ — Deferred income taxes 149 — (149 ) — Current installments of long-term debt and capital lease obligations 148 3,409 — 3,557 Total current liabilities 210,141 170,540 (334,529 ) 46,152 Long-term debt and capital lease obligations, less current installments 249,110 18,497 — 267,607 Other long-term liabilities 304 2,797 — 3,101 Deferred income taxes — 4,304 (149 ) 4,155 Total long-term liabilities 249,414 25,598 (149 ) 274,863 Total shareholders’ equity 118,860 378,500 (378,500 ) 118,860 Total liabilities and shareholders’ equity $ 578,415 $ 574,638 $ (713,178 ) $ 439,875

Condensed Consolidating Finan35

Condensed Consolidating Financial Statements statement of cash flows (Tables)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Condensed Cash Flow Statement [Table Text Block]	LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (1,083 ) $ 9,945 $ (9,915 ) $ (1,053 ) Adjustments for non-cash items (7,572 ) 13,927 9,915 16,270 Net changes in operating assets and liabilities, net of acquired businesses (1,616 ) (7,884 ) — (9,500 ) Intercompany activity 1,379 (1,379 ) — — Net cash (used)/provided by operating activities (8,892 ) 14,609 — 5,717 Investing activities: Additions to property, plant and equipment (1,606 ) (13,699 ) — (15,305 ) Proceeds from sale of equipment — 260 — 260 Net cash used by investing activities (1,606 ) (13,439 ) — (15,045 ) Financing activities: Principal payments on long-term debt and notes payable (251 ) (1,563 ) — (1,814 ) Advances on revolving line of credit 93,500 — — 93,500 Payments on revolving line of credit (89,500 ) — — (89,500 ) Payments for debt issuance cost (309 ) — — (309 ) Net cash provided (used) by financing activities 3,440 (1,563 ) — 1,877 Net (decrease) increase in cash and cash equivalents (7,058 ) (393 ) — (7,451 ) Cash and cash equivalents, beginning of period 7,058 869 — 7,927 Cash and cash equivalents, end of period $ — $ 476 $ — $ 476	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2015 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (1,083 ) $ 9,945 $ (9,915 ) $ (1,053 ) Adjustments for non-cash items (7,572 ) 13,927 9,915 16,270 Net changes in operating assets and liabilities, net of acquired businesses (1,616 ) (7,884 ) — (9,500 ) Intercompany activity 1,379 (1,379 ) — — Net cash (used)/provided by operating activities (8,892 ) 14,609 — 5,717 Investing activities: Additions to property, plant and equipment (1,606 ) (13,699 ) — (15,305 ) Proceeds from sale of equipment — 260 — 260 Net cash used by investing activities (1,606 ) (13,439 ) — (15,045 ) Financing activities: Principal payments on long-term debt and notes payable (251 ) (1,563 ) — (1,814 ) Advances on revolving line of credit 93,500 — — 93,500 Payments on revolving line of credit (89,500 ) — — (89,500 ) Payments for debt issuance cost (309 ) — — (309 ) Net cash provided (used) by financing activities 3,440 (1,563 ) — 1,877 Net (decrease) increase in cash and cash equivalents (7,058 ) (393 ) — (7,451 ) Cash and cash equivalents, beginning of period 7,058 869 — 7,927 Cash and cash equivalents, end of period $ — $ 476 $ — $ 476 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2014 LMIA(Guarantor Parent) Guarantor Subsidiaries Consolidating/Eliminating Entries Consolidated Operating activities: Net (loss)/income $ (6,475 ) $ 9,589 $ (9,572 ) $ (6,458 ) Adjustments for non-cash items 2,195 14,408 9,572 26,175 Net changes in operating assets and liabilities, net of acquired businesses 21,296 (4,997 ) — 16,299 Intercompany activity 6,794 (6,794 ) — — Net cash (used)/provided by operating activities 23,810 12,206 — 36,016 Investing activities: Additions to property, plant and equipment (704 ) (9,598 ) — (10,302 ) Acquisitions, net of cash acquired — — — — Proceeds from sale of equipment 4 977 — 981 Net cash used by investing activities (700 ) (8,621 ) — (9,321 ) Financing activities: Proceeds from issuance of debt 250,000 — — 250,000 Principal payments on long-term debt and notes payable (228,180 ) (3,718 ) — (231,898 ) Advances on revolving line of credit 60,000 — — 60,000 Payments on revolving line of credit (96,000 ) — — (96,000 ) Payments for debt issuance cost (7,881 ) — — (7,881 ) Other, net (28 ) — — (28 ) Net cash provided (used) by financing activities (22,089 ) (3,718 ) — (25,807 ) Net (decrease) increase in cash and cash equivalents 1,021 (133 ) — 888 Cash and cash equivalents, beginning of period 405 1,167 — 1,572 Cash and cash equivalents, end of period $ 1,426 $ 1,034 $ — $ 2,460

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Dec. 31, 2014
Entity Information [Line Items]
Litigation Settlement Receivable	$ 4,266			$ 4,266
Trade receivables	49,741			49,741			$ 53,081
Unbilled revenue	6,004			6,004			4,036
Other receivables	5,870	[1]		5,870	[1]		1,581
Accounts receivable, gross	61,615			61,615			58,698
Less: Allowance for doubtful accounts	(226)			(226)			(464)
Accounts receivable, net	61,389			61,389			58,234
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs	195			195			$ 549
Change in Accounting Estimate [Abstract]
Favorable adjustments	96		$ 4,898	554		$ 5,620
Unfavorable adjustments	(2,183)		(545)	(2,214)		(727)
Net operating income adjustments	(2,087)		4,353	$ (1,660)		4,893
Mitsubishi Regional Jet [Member]
Change in Accounting Estimate [Abstract]
Unfavorable adjustments	$ 1,738
Valent Aerostructures, LLC [Member]
Change in Accounting Estimate [Abstract]
Favorable adjustments			$ 4,602			$ 5,267
[1]	(1) At September 30, 2015, includes $4,266 related to the settlement of a lawsuit in the third quarter of 2015. See Note 14, "Legal Contingencies," in the Notes to the Condensed Consolidated Financial Statements.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Inventories [Abstract]
Raw materials	$ 14,606		$ 16,712
Work in progress	23,915		22,960
Manufactured and purchased components	20,016		21,296
Finished goods	29,253		32,403
Product inventory	87,790		93,371
Capitalized contract costs	31,087		20,908
Total inventories	118,877		114,279
Loss Contingency, Estimate of Possible Loss	121		$ 0
paymentofcashconsideration	$ 1,700	$ 4,800

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2015
Goodwill [Line Items]
Goodwill, Gross	$ 192,694	$ 192,694
Goodwill, Impaired, Accumulated Impairment Loss	(105,910)	(105,910)
Goodwill acquired	86,784	86,784
Engineering Services [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss	26,439
Aerostructures [Member]
Goodwill [Line Items]
Goodwill, Gross	141,953	141,953
Goodwill, Impaired, Accumulated Impairment Loss	(79,471)	(79,471)
Goodwill acquired	62,482	62,482
Engineering Services [Member]
Goodwill [Line Items]
Goodwill, Gross	50,741	50,741
Goodwill, Impaired, Accumulated Impairment Loss	(26,439)	(26,439)
Goodwill acquired	$ 24,302	$ 24,302

Goodwill and Intangible Asset39

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Intangible Assets [Abstract]
Trademarks	$ 778		$ 778		$ 778
Customer intangible assets	68,991		68,991		68,991
Other	1,274		1,274		1,274
Accumulated amortization	(23,372)		(23,372)		(20,103)
Intangible assets, net	47,671		47,671		50,940
Amortization expense on intangible assets	1,089	$ 1,131	3,269	$ 3,393
Trademarks [Member]
Intangible Assets [Abstract]
Accumulated amortization	(753)		(753)		(679)
Customer Intangible Assets [Member]
Intangible Assets [Abstract]
Accumulated amortization	(21,791)		(21,791)		(18,716)
Other [Member]
Intangible Assets [Abstract]
Accumulated amortization	$ (828)		$ (828)		$ (708)

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Other Assets, Noncurrent [Abstract]
Deferred Finance Costs, Noncurrent, Net	$ 7,353	$ 8,600
Other Assets, Miscellaneous, Noncurrent	1,618	2,022
Other Assets, Noncurrent	8,971	$ 10,622
Debt Issuance Cost	$ 10,001

Long-term Debt and Capital Le41

Long-term Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2015	Dec. 31, 2013
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 1,138		$ 1,138
Long-term debt gross	271,164	$ 268,978	271,164
Less current installments	3,557	3,424	3,557
Long-term debt and capital lease obligations, less current installments	267,607	265,554	267,607
Second Priority Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 245,000	245,000	$ 245,000
Fixed interest rate (in hundredths)	7.375%		7.375%
Revolver Under Credit Agreement, Variable [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 4,000	0	$ 4,000
Missouri IRBs [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 7,011	$ 7,334	$ 7,011
Fixed interest rate (in hundredths)	2.80%	2.80%	2.80%
Capital Leases [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 12,125	$ 13,288	$ 12,125
Fixed interest rate, minimum (in hundredths)			2.04%	2.04%
Fixed interest rate, maximum (in hundredths)			7.73%	7.73%
Notes Payable [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 3,028	$ 3,356	$ 3,028
Fixed interest rate, maximum (in hundredths)	2.56%	2.56%

Long-term Debt and Capital Le42

Long-term Debt and Capital Lease Obligations, Line of Credit Facility (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 90,000,000	$ 90,000,000
Reserve Against line of Credit	15,000,000	15,000,000
Line of Credit Facility, Remaining Borrowing Capacity	75,000,000	75,000,000
Letters of Credit Outstanding, Amount	1,138,000	1,138,000
Line of Credit Facility, Current Borrowing Capacity	$ 54,781,000	$ 54,781,000
Line of Credit Facility, Borrowing Capacity, Description	The maximum amount, less reserves, available for borrowing at levels below $30,000 is based on a sum of 45% of eligible receivables, 30% of eligible inventories and an additional amount of eligible equipment up to 20% of total borrowings under the facility. The maximum amount, less reserves, available for borrowing at levels above $30,000 is based on a sum of 75% of eligible receivables, 45% of eligible inventories and an additional amount of eligible equipment up to 20% of total borrowings under the facility.
Line of Credit Facility, Interest Rate During Period	4.60%
Commitment fee (in hundredths)		0.50%
Federal funds rate [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		0.50%
One Month Eurodollar [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		1.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fee (in hundredths)		0.375%
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		3.00%
Minimum [Member] | Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		2.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fee (in hundredths)		0.50%
Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		3.50%
Maximum [Member] | Alternate Base Rate [Member]
Line of Credit Facility [Line Items]
Spread over reference rate (in hundredths)		2.50%

Derivative Financial Instrume43

Derivative Financial Instruments (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2014USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Loss on Derivative	$ 793

Derivative Financial Instrume44

Derivative Financial Instruments, Derivative Type (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI, net of tax, on Derivative (Effective Portion)	$ 0	$ 0
Amount of (Gain) Loss Reclassified from AOCI into Income (Effective Portion)	$ 0	$ 0

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerators [Abstract]
Net loss	$ 34	$ 1,396	$ (1,053)	$ (6,458)
Denominators [Abstract]
Weighted average common shares - basic (in shares)	12,907,938	12,740,034	12,851,456	12,704,568
Dilutive effect of restricted stock (in shares)	142,300	147,329	0	0
Weighted average common shares - diluted (in shares)	13,050,238	12,887,363	12,851,456	12,704,568
Basic earnings (loss) per share	$ 0	$ 0.11	$ (0.08)	$ (0.51)
Diluted earnings (loss) per share	$ 0	$ 0.11	$ (0.08)	$ (0.51)
Antidilutive securities excluded from computation of earnings per share (in shares)			216,872	145,710

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
LMI Aerospace, Inc. 2005 Long-Term Incentive Plan [Member] | Restricted Stock Awards [Member]
Shares
Outstanding beginning balance (in shares)				296,782
Granted (in shares)				131,703
Vested (in shares)				(131,986)
Forfeited (in shares)				(34,411)
Outstanding ending balance (in shares)	262,088	296,782		262,088
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)				$ 16.58
Granted (in dollars per share)				13.22
Vested (in dollars per share)				17.57
Forfeited (in dollars per share)				15.35
Outstanding ending balance (in dollars per share)	$ 14.56	$ 16.58		$ 14.56
Compensation expense	$ 224		$ 765	$ 1,154	$ 1,442
Unrecognized compensation costs	$ 2,023	$ 2,036		$ 2,023
Costs are expected to be recognized over a weighted average period	1 year 9 months 4 days	1 year 2 months 12 days
LMI Aerospace, Inc. 2015 Long-term Incentive Plan [Member]
Weighted Average Grant Date Fair Value
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	750,000			750,000
LMI Aerospace, Inc. 2015 Long-term Incentive Plan [Member] | Restricted Stock Awards [Member]
Shares
Outstanding beginning balance (in shares)				0
Granted (in shares)				61,801
Vested (in shares)				0
Forfeited (in shares)				0
Outstanding ending balance (in shares)	61,801	0		61,801
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)				$ 0
Granted (in dollars per share)				9.79
Vested (in dollars per share)				0
Forfeited (in dollars per share)				0
Outstanding ending balance (in dollars per share)	$ 9.79	$ 0		$ 9.79
Compensation expense	$ 151		$ 0	$ 151	$ 0
Unrecognized compensation costs	$ 454	$ 0		$ 454
Costs are expected to be recognized over a weighted average period	9 months 7 days

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Information about reported segments on the basis used internally to evaluate segment performance [Abstract]
Net sales	$ 95,633	$ 97,335	$ 285,658	$ 299,023
Income from operations	6,072	6,663	16,246	14,580
Aerostructures [Member]
Information about reported segments on the basis used internally to evaluate segment performance [Abstract]
Net sales	85,119	82,914	249,661	249,101
Income from operations	8,918	7,888	20,063	14,010
Engineering Services [Member]
Information about reported segments on the basis used internally to evaluate segment performance [Abstract]
Net sales	10,826	14,714	36,818	51,235
Income from operations	(2,805)	(1,216)	(3,803)	666
Eliminations [Member]
Information about reported segments on the basis used internally to evaluate segment performance [Abstract]
Net sales	(312)	(293)	(821)	(1,313)
Income from operations	$ (41)	$ (9)	$ (14)	$ (96)

Customer Concentration (Details

Customer Concentration (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Spirit [Member] | Revenue [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)	34.40%	34.40%	34.80%	33.70%
Spirit [Member] | Accounts Receivable [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)			26.90%		33.30%
Gulfstream [Member] | Revenue [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)	15.90%	14.30%	14.30%	15.30%
Gulfstream [Member] | Accounts Receivable [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)			15.70%		13.10%
The Boeing Company [Member] | Revenue [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)	12.60%	10.00%	11.40%	10.90%
The Boeing Company [Member] | Accounts Receivable [Member]
Revenue and Accounts Receivable, Major Customer [Line Items]
Percentage attributable to customer (in hundredths)			6.20%		7.40%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 13,588		$ 13,588		$ 12,676
Income Taxes Receivable	7,069		7,069
(Benefit) provision for income taxes	(249)	$ 754	$ (408)	$ 2,557
Tax Adjustments, Settlements, and Unusual Provisions	$ 2,582

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	$ 28		$ 28
Restructuring activities, total expense to be incurred	5,435		5,435
Restructuring and Related Cost, Cost Incurred to Date	5,407		5,407
Other Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	115		115
Restructuring and Related Cost, Cost Incurred to Date	115		115
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Payments for Restructuring	1,165	$ 253	2,175	$ 1,441
Employee Severance [Member] | Precise Machine [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	615		615
Restructuring and Related Cost, Cost Incurred to Date	615		615
Employee Severance [Member] | Relocation of Machining Operations from Savannah Facility [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	47		47
Restructuring and Related Cost, Cost Incurred to Date	47		47
Employee Severance [Member] | Relocation of Machining Parts Operations from St. Charles Facility [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	378		378
Restructuring and Related Cost, Cost Incurred to Date	378		378
Employee Severance [Member] | Coweta Facility Closure [Member] [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	28		28
Restructuring activities, total expense to be incurred	92		92
Restructuring and Related Cost, Cost Incurred to Date	64		64
Employee Severance [Member] | Greenville Facility Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	376		376
Restructuring and Related Cost, Cost Incurred to Date	376		376
Employee Severance [Member] | Melbourne Australia Office Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	34		34
Restructuring and Related Cost, Cost Incurred to Date	34		34
Employee Severance [Member] | Other Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	3,529		3,529
Restructuring and Related Cost, Cost Incurred to Date	3,529		3,529
Lease Termination [Member] | Precise Machine [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	124		124
Restructuring and Related Cost, Cost Incurred to Date	124		124
Lease Termination [Member] | Greenville Facility Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	0		0
Restructuring activities, total expense to be incurred	125		125
Restructuring and Related Cost, Cost Incurred to Date	125		125
Selling, General and Administrative Expenses [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	1,575	765	2,368	2,288
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Precise Machine [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	0	(18)	0	287
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Relocation of Machining Operations from Savannah Facility [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	0	0	0	47
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Relocation of Machining Parts Operations from St. Charles Facility [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	0	0	378	0
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Coweta Facility Closure [Member] [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	64	0	64	0
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Greenville Facility Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	501	0	501	0
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Melbourne Australia Office Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	34	0	34	0
Selling, General and Administrative Expenses [Member] | Employee Severance [Member] | Other Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related expenses	$ 976	$ 783	$ 1,391	$ 1,954

Restructuring - Restructuring R

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 5,407		$ 5,407
Restructuring Reserve [Roll Forward]
Accrual additions	1,575	$ 765	2,368	$ 2,288
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Accrued restructuring balance as of December 31, 2014			739
Accrual additions			2,368
Cash payments	(1,165)	$ (253)	(2,175)	$ (1,441)
Accrued restructuring balance as of September 30, 2015	932		932
Precise Machine [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	615		615
Precise Machine [Member] | Lease Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	124		124
Relocation of Machining Operations from Savannah Facility [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	47		47
Other Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	115		115
Other Expense [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 3,529		$ 3,529

Legal Contingencies (Details)

Legal Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015
Tech Lawsuit [Member]
Loss Contingencies [Line Items]
Loss Contingency, Settlement Agreement, Terms			Pursuant to the terms of the Settlement Agreements, (a) the Tech Lawsuit will be dismissed with prejudice, (b) $3,109 of the Escrow Funds will be disbursed to the Company and the remaining amount of Escrow Funds will be retained by Tech, (c) Tech has assumed an approximate $1,167 payment obligation of the Company to a predecessor owner of OMT that remained under a purchase agreement the Company acquired as part of the Company’s acquisition of Valent; (d) the Locked-up Shares will be released to Tech, excluding any portion needed to secure Tech’s obligation described in subsection (c) above; and (e) all parties entered into a mutual release of claims and disputes other than those based on certain environmental representations of the former equity owners of Valent under the Valent Purchase Agreement. The settlement also resulted in the Company assuming other liabilities of $484, recording the write-off of a previously recorded receivable of $389 and recording other expenses of $68.
Gain (Loss) Related to Litigation Settlement	$ 3,325
Missouri Attorney General [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Payments		$ 175
Environmental Protection Agency [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Payments		$ 694
Tech Investments LLC [Member]
Loss Contingencies [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	5.50%		5.50%
Common Stock, Other Shares, Outstanding	783,798		783,798
Valent Aerostructures, LLC [Member]
Loss Contingencies [Line Items]
Escrow Deposit	$ 5,000		$ 5,000

Condensed Consolidated Balanc53

Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 476	$ 7,927	$ 2,460	$ 1,572
Accounts receivable, net	61,389	58,234
Intercompany receivables	0	0
Inventories	118,877	114,279
Inventories	10,830	10,255
Deferred income taxes	3,775	3,913
Total current assets	195,347	194,608
Property, plant and equipment, net	101,102	99,482
Investments in subsidiaries	0	0
Goodwill	86,784	86,784
Intangible assets, net	47,671	50,940
Deferred income taxes	0	0
Other assets	8,971	10,622
Total assets	439,875	442,436
Accounts payable	17,961	21,755
Accrued expenses	24,634	26,072
Intercompany Payables	0	0
Deferred income taxes	0	0
Current installments of long-term debt and capital lease obligations	3,557	3,424
Total current liabilities	46,152	51,251
Long-term debt and capital lease obligations, less current installments	267,607	265,554
Other long-term liabilities	3,101	3,289
Deferred income taxes	4,155	4,207
Total long-term liabilities	274,863	273,050
Total shareholders’ equity	118,860	118,135
Total liabilities and shareholders' equity	439,875	442,436
LMIA(Guarantor Parent)
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	7,058	1,426	405
Accounts receivable, net	2,063	1,310
Intercompany receivables	178,197	145,980
Inventories	0	0
Inventories	8,342	8,325
Deferred income taxes	0	0
Total current assets	188,602	162,673
Property, plant and equipment, net	3,818	3,148
Investments in subsidiaries	378,500	368,587
Goodwill	0	0
Intangible assets, net	0	0
Deferred income taxes	149	118
Other assets	7,346	8,743
Total assets	578,415	543,269
Accounts payable	465	1,339
Accrued expenses	11,626	13,679
Intercompany Payables	197,753	164,158
Deferred income taxes	149	118
Current installments of long-term debt and capital lease obligations	148	335
Total current liabilities	210,141	179,629
Long-term debt and capital lease obligations, less current installments	249,110	245,174
Other long-term liabilities	304	331
Deferred income taxes	0	0
Total long-term liabilities	249,414	245,505
Total shareholders’ equity	118,860	118,135
Total liabilities and shareholders' equity	578,415	543,269
Guarantor Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	476	869	1,034	1,167
Accounts receivable, net	59,326	56,924
Intercompany receivables	156,183	145,223
Inventories	118,877	114,279
Inventories	2,488	1,930
Deferred income taxes	3,924	4,031
Total current assets	341,274	323,256
Property, plant and equipment, net	97,284	96,334
Investments in subsidiaries	0	0
Goodwill	86,784	86,784
Intangible assets, net	47,671	50,940
Deferred income taxes	0	0
Other assets	1,625	1,879
Total assets	574,638	559,193
Accounts payable	17,496	20,416
Accrued expenses	13,008	12,393
Intercompany Payables	136,627	127,045
Deferred income taxes	0	0
Current installments of long-term debt and capital lease obligations	3,409	3,089
Total current liabilities	170,540	162,943
Long-term debt and capital lease obligations, less current installments	18,497	20,380
Other long-term liabilities	2,797	2,958
Deferred income taxes	4,304	4,325
Total long-term liabilities	25,598	27,663
Total shareholders’ equity	378,500	368,587
Total liabilities and shareholders' equity	574,638	559,193
Consolidating/Eliminating Entries
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Intercompany receivables	(334,380)	(291,203)
Inventories	0	0
Inventories	0	0
Deferred income taxes	(149)	(118)
Total current assets	(334,529)	(291,321)
Property, plant and equipment, net	0	0
Investments in subsidiaries	(378,500)	(368,587)
Goodwill	0	0
Intangible assets, net	0	0
Deferred income taxes	(149)	(118)
Other assets	0	0
Total assets	(713,178)	(660,026)
Accounts payable	0	0
Accrued expenses	0	0
Intercompany Payables	(334,380)	(291,203)
Deferred income taxes	(149)	(118)
Current installments of long-term debt and capital lease obligations	0	0
Total current liabilities	(334,529)	(291,321)
Long-term debt and capital lease obligations, less current installments	0	0
Other long-term liabilities	0	0
Deferred income taxes	(149)	(118)
Total long-term liabilities	(149)	(118)
Total shareholders’ equity	(378,500)	(368,587)
Total liabilities and shareholders' equity	$ (713,178)	$ (660,026)

Condensed Consolidating Stateme

Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Income Statements, Captions [Line Items]
Product sales	$ 84,114	$ 81,693	$ 246,730	$ 245,349
Service revenue	11,519	15,642	38,928	53,674
Net sales	95,633	97,335	285,658	299,023
Cost of product sales	67,514	61,535	197,211	195,170
Cost of service revenue	11,493	13,757	35,853	45,215
Cost of sales	79,007	75,292	233,064	240,385
Gross profit	16,626	22,043	52,594	58,638
Selling, general and administrative expenses	8,979	14,615	33,980	41,770
Restructuring expense	1,575	765	2,368	2,288
Acquisitions expense			0
Income from operations	6,072	6,663	16,246	14,580
Interest expense	(5,653)	(5,946)	(16,802)	(23,800)
Other, net	(136)	(75)	(89)	205
Income (loss) from equity investments in subsidiaries	0	0	0	0
Total other expense	(5,789)	(6,021)	(16,891)	(23,595)
Income (loss) before income taxes	283	642	(645)	(9,015)
Provision (benefit) for income taxes	249	(754)	408	(2,557)
Net loss	34	1,396	(1,053)	(6,458)
Change in foreign currency translation adjustment	(32)	(112)	(31)	(18)
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $0 and $157	0	0	0	278
Total comprehensive income (loss)	2	1,284	(1,084)	(6,198)
LMIA(Guarantor Parent)
Condensed Income Statements, Captions [Line Items]
Product sales	4	(68)	207	617
Service revenue	7,640	9,172	26,729	28,474
Net sales	7,644	9,104	26,936	29,091
Cost of product sales	27	40	214	699
Cost of service revenue	7,991	9,106	27,440	28,330
Cost of sales	8,018	9,146	27,654	29,029
Gross profit	$ (374)	(42)	(718)	62
Selling, general and administrative expenses		421	0	421
Restructuring expense	$ 0	533	318	967
Acquisitions expense			0
Income from operations	(374)	(996)	(1,036)	(1,326)
Interest expense	(5,389)	(5,662)	(16,029)	(22,972)
Other, net	(1)	11	(1)	81
Income (loss) from equity investments in subsidiaries	3,541	4,874	9,914	9,571
Total other expense	(1,849)	(777)	(6,116)	(13,320)
Income (loss) before income taxes	(2,223)	(1,773)	(7,152)	(14,646)
Provision (benefit) for income taxes	(2,227)	(3,054)	(6,069)	(8,171)
Net loss	4	1,281	(1,083)	(6,475)
Change in foreign currency translation adjustment	0	0	0	0
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $0 and $157		0		278
Total comprehensive income (loss)	4	1,281	(1,083)	(6,197)
Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Product sales	84,099	81,724	246,699	245,327
Service revenue	11,545	15,620	38,942	53,688
Net sales	95,644	97,344	285,641	299,015
Cost of product sales	67,476	61,458	197,173	195,066
Cost of service revenue	11,166	13,803	35,155	45,372
Cost of sales	78,642	75,261	232,328	240,438
Gross profit	17,002	22,083	53,313	58,577
Selling, general and administrative expenses	8,979	14,194	33,980	41,349
Restructuring expense	1,575	232	2,050	1,321
Acquisitions expense			0
Income from operations	6,448	7,657	17,283	15,907
Interest expense	(264)	(284)	(773)	(828)
Other, net	(135)	(86)	(88)	124
Income (loss) from equity investments in subsidiaries	0	0	0	0
Total other expense	(399)	(370)	(861)	(704)
Income (loss) before income taxes	6,049	7,287	16,422	15,203
Provision (benefit) for income taxes	2,476	2,300	6,477	5,614
Net loss	3,573	4,987	9,945	9,589
Change in foreign currency translation adjustment	(32)	(112)	(31)	(18)
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $0 and $157		0		0
Total comprehensive income (loss)	3,541	4,875	9,914	9,571
Consolidating/Eliminating Entries
Condensed Income Statements, Captions [Line Items]
Product sales	11	37	(176)	(595)
Service revenue	(7,666)	(9,150)	(26,743)	(28,488)
Net sales	(7,655)	(9,113)	(26,919)	(29,083)
Cost of product sales	11	37	(176)	(595)
Cost of service revenue	(7,664)	(9,152)	(26,742)	(28,487)
Cost of sales	(7,653)	(9,115)	(26,918)	(29,082)
Gross profit	$ (2)	2	(1)	(1)
Selling, general and administrative expenses		0	0	0
Restructuring expense	$ 0	0	0	0
Acquisitions expense			0
Income from operations	(2)	2	(1)	(1)
Interest expense	0	0	0	0
Other, net	0	0	0	0
Income (loss) from equity investments in subsidiaries	(3,541)	(4,874)	(9,914)	(9,571)
Total other expense	(3,541)	(4,874)	(9,914)	(9,571)
Income (loss) before income taxes	(3,543)	(4,872)	(9,915)	(9,572)
Provision (benefit) for income taxes	0	0	0	0
Net loss	(3,543)	(4,872)	(9,915)	(9,572)
Change in foreign currency translation adjustment	0	0	0	0
Reclassification adjustment for losses on interest rate hedges included in net earnings, net of tax of $0, $0, $0 and $157		0		0
Total comprehensive income (loss)	$ (3,543)	$ (4,872)	$ (9,915)	$ (9,572)

Condensed Consolidating State55

Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	$ 34	$ 1,396	$ (1,053)	$ (6,458)
Adjustments for non-cash items			16,270	26,175
Net changes in operating assets and liabilities, net of acquired businesses			(9,500)	16,299
Intercompany activity			0	0
Net cash provided by operating activities			5,717	36,016
Additions to property, plant and equipment			(15,305)	(10,302)
Acquisitions, net of cash acquired				0
Proceeds from sale of property, plant and equipment			260	981
Net cash used by investing activities			(15,045)	(9,321)
Proceeds from issuance of debt				250,000
Principal payments on long-term debt and notes payable			(1,814)	(231,898)
Advances on revolving line of credit			93,500	60,000
Payments on revolving line of credit			(89,500)	(96,000)
Payments for debt issuance cost			(309)	(7,881)
Other, net			0	(28)
Net cash provided (used) by financing activities			1,877	(25,807)
Net (decrease) increase in cash and cash equivalents			(7,451)	888
Cash and cash equivalents, beginning of period			7,927	1,572
Cash and cash equivalents, end of period	476	2,460	476	2,460
LMIA(Guarantor Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	4	1,281	(1,083)	(6,475)
Adjustments for non-cash items			(7,572)	2,195
Net changes in operating assets and liabilities, net of acquired businesses			(1,616)	21,296
Intercompany activity			1,379	6,794
Net cash provided by operating activities			(8,892)	23,810
Additions to property, plant and equipment			(1,606)	(704)
Acquisitions, net of cash acquired				0
Proceeds from sale of property, plant and equipment			0	4
Net cash used by investing activities			(1,606)	(700)
Proceeds from issuance of debt				250,000
Principal payments on long-term debt and notes payable			(251)	(228,180)
Advances on revolving line of credit			93,500	60,000
Payments on revolving line of credit			(89,500)	(96,000)
Payments for debt issuance cost			(309)	(7,881)
Other, net				(28)
Net cash provided (used) by financing activities			3,440	(22,089)
Net (decrease) increase in cash and cash equivalents			(7,058)	1,021
Cash and cash equivalents, beginning of period			7,058	405
Cash and cash equivalents, end of period	0	1,426	0	1,426
Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	3,573	4,987	9,945	9,589
Adjustments for non-cash items			13,927	14,408
Net changes in operating assets and liabilities, net of acquired businesses			(7,884)	(4,997)
Intercompany activity			(1,379)	(6,794)
Net cash provided by operating activities			14,609	12,206
Additions to property, plant and equipment			(13,699)	(9,598)
Acquisitions, net of cash acquired				0
Proceeds from sale of property, plant and equipment			260	977
Net cash used by investing activities			(13,439)	(8,621)
Proceeds from issuance of debt				0
Principal payments on long-term debt and notes payable			(1,563)	(3,718)
Advances on revolving line of credit			0	0
Payments on revolving line of credit			0	0
Payments for debt issuance cost			0	0
Other, net				0
Net cash provided (used) by financing activities			(1,563)	(3,718)
Net (decrease) increase in cash and cash equivalents			(393)	(133)
Cash and cash equivalents, beginning of period			869	1,167
Cash and cash equivalents, end of period	476	1,034	476	1,034
Consolidating/Eliminating Entries
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	(3,543)	(4,872)	(9,915)	(9,572)
Adjustments for non-cash items			9,915	9,572
Net changes in operating assets and liabilities, net of acquired businesses			0	0
Intercompany activity			0	0
Net cash provided by operating activities			0	0
Additions to property, plant and equipment			0	0
Acquisitions, net of cash acquired				0
Proceeds from sale of property, plant and equipment			0	0
Net cash used by investing activities			0	0
Proceeds from issuance of debt				0
Principal payments on long-term debt and notes payable			0	0
Advances on revolving line of credit			0	0
Payments on revolving line of credit			0	0
Payments for debt issuance cost			0	0
Other, net				0
Net cash provided (used) by financing activities			0	0
Net (decrease) increase in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0	$ 0