Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 06, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'GSE Holding, Inc. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 20,460,612 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001275712 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $18,699 | $18,068 |
Accounts receivable: | ' | ' |
Trade, net of allowance for doubtful accounts of $2,473 and $869, respectively | 89,466 | 96,987 |
Other | 2,896 | 3,626 |
Inventory, net | 79,129 | 64,398 |
Deferred income taxes | 1,299 | 1,111 |
Prepaid expenses and other | 5,295 | 6,681 |
Income taxes receivable | 1,549 | 1,538 |
Total current assets | 198,333 | 192,409 |
Property, plant and equipment, net | 75,848 | 70,172 |
Goodwill | 9,644 | 58,895 |
Other assets | 12,714 | 14,622 |
TOTAL ASSETS | 296,539 | 336,098 |
Current liabilities: | ' | ' |
Accounts payable | 49,401 | 36,632 |
Accrued liabilities and other | 15,061 | 23,045 |
Short-term debt | 18,372 | 985 |
Current portion of long-term debt | 172,452 | 3,147 |
Total current liabilities | 255,286 | 63,809 |
Other liabilities | 1,240 | 1,211 |
Deferred income taxes | 1,222 | 1,078 |
Long-term debt, net of current portion | 7,673 | 167,282 |
Total liabilities | 265,421 | 233,380 |
Commitments and contingencies (Note 15) | ' | ' |
Stockholders’ equity: | ' | ' |
Common stock, $.01 par value, 150,000,000 shares authorized, 20,360,612 and 19,846,684 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 204 | 198 |
Additional paid-in capital | 131,466 | 130,617 |
Accumulated deficit | -100,534 | -28,372 |
Accumulated other comprehensive income (loss) | -18 | 275 |
Total stockholders’ equity | 31,118 | 102,718 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $296,539 | $336,098 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Trade, allowance for doubtful accounts (in Dollars) | $2,473 | $869 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 20,360,612 | 19,846,684 |
Common stock, shares outstanding | 20,360,612 | 19,846,684 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales | $117,976 | $121,200 | $321,311 | $355,285 |
Cost of products | 104,281 | 100,150 | 281,150 | 295,636 |
Gross profit | 13,695 | 21,050 | 40,161 | 59,649 |
Selling, general and administrative expenses | 12,547 | 11,945 | 40,008 | 34,684 |
Non-recurring initial public offering related costs | ' | ' | ' | 9,655 |
Amortization of intangibles | 401 | 295 | 1,155 | 893 |
Impairment of goodwill | 25,244 | ' | 51,667 | ' |
Operating income (loss) | -24,497 | 8,810 | -52,669 | 14,417 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense, net of interest income | 5,076 | 3,199 | 12,525 | 12,836 |
Loss on extinguishment of debt | ' | ' | ' | 1,555 |
Other expense (income) | 239 | -555 | 1,221 | -138 |
Income (loss) from continuing operations before income taxes | -29,812 | 6,166 | -66,415 | 164 |
Income tax provision | 6,010 | 756 | 5,747 | 3,483 |
Income (loss) from continuing operations | -35,822 | 5,410 | -72,162 | -3,319 |
Loss from discontinued operations, net of tax | ' | -170 | ' | -411 |
Net income (loss). | -35,822 | 5,240 | -72,162 | -3,730 |
Foreign currency translation adjustment | 1,441 | 689 | -293 | -19 |
Comprehensive income (loss) | ($34,381) | $5,929 | ($72,455) | ($3,749) |
Basic net income (loss) per common share: | ' | ' | ' | ' |
Continuing operations (in Dollars per share) | ($1.77) | $0.28 | ($3.60) | ($0.19) |
Discontinued operations (in Dollars per share) | ' | ($0.01) | ' | ($0.02) |
(in Dollars per share) | ($1.77) | $0.27 | ($3.60) | ($0.21) |
Diluted net income (loss) per common share: | ' | ' | ' | ' |
Continuing operations (in Dollars per share) | ($1.77) | $0.27 | ($3.60) | ($0.19) |
Discontinued operations (in Dollars per share) | ' | ($0.01) | ' | ($0.02) |
(in Dollars per share) | ($1.77) | $0.26 | ($3.60) | ($0.21) |
Basic weighted-average common shares outstanding (in Shares) | 20,195 | 19,459 | 20,056 | 17,978 |
Diluted weighted-average common shares outstanding (in Shares) | 20,195 | 20,436 | 20,056 | 17,978 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss | ($72,162) | ($3,730) |
Loss from discontinued operations | ' | 411 |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ' | ' |
Impairment of goodwill | 51,667 | ' |
Depreciation and amortization | 14,093 | 13,468 |
Deferred income tax provision (benefit) | 5,001 | -1,385 |
Loss on extinguishment of debt | ' | 1,555 |
Stock-based compensation | 792 | 4,453 |
Changes in operating assets and liabilities, net of effect of acquisitions: | ' | ' |
Decrease (increase) in accounts receivable | 10,080 | -21,266 |
Increase in inventory | -13,340 | -16,133 |
Increase in accounts payable | 10,014 | 2,502 |
All other items, net | -6,410 | -4,784 |
Net cash used in operating activities – continuing operations | -265 | -24,909 |
Net cash used in operating activities – discontinued operations | ' | -19 |
Net cash used in operating activities | -265 | -24,928 |
Cash flows from investing activities: | ' | ' |
Purchase of property, plant and equipment | -15,595 | -21,975 |
Acquisition of business, net of cash acquired | -9,657 | ' |
Net cash used in investing activities | -25,252 | -21,975 |
Cash flows from financing activities: | ' | ' |
Proceeds from lines of credit | 81,096 | 85,777 |
Repayments of lines of credit | -58,403 | -83,770 |
Proceeds from long-term debt | 6,540 | 25,674 |
Repayments of long-term debt | -2,350 | -43,471 |
Net proceeds from the exercise of stock options | 235 | 888 |
Payments for debt issuance costs | -1,348 | -1,736 |
Net proceeds from initial public offering | ' | 65,927 |
Net cash provided by financing activities – continuing operations | 25,770 | 49,289 |
Effect of exchange rate changes on cash – continuing operations | 378 | 304 |
Effect of exchange rate changes on cash – discontinued operations | ' | 39 |
Net increase in cash and cash equivalents | 631 | 2,729 |
Cash and cash equivalents at beginning of period | 18,068 | 9,076 |
Cash and cash equivalents at end of period | $18,699 | $11,805 |
Note_1_Nature_of_Business
Note 1 - Nature of Business | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Nature of Operations [Text Block] | ' |
1. Nature of Business | |
Organization and Description of Business — | |
GSE Holding, Inc., together with its subsidiaries, (the “Company”) is a leading global manufacturer and marketer of highly engineered geosynthetic lining products for environmental protection and confinement applications. These lining products are used in a wide range of infrastructure end markets such as mining, environmental containment, liquid containment (including water infrastructure, agriculture and aquaculture and industrial wastewater treatment applications), coal ash containment and oil and gas. The Company offers a full range of products, including geomembranes, drainage products, geosynthetic clay liners, nonwoven geotextiles, and other specialty products. The Company generates the majority of its sales outside of the United States, including emerging markets in Asia, Latin America, Africa and the Middle East. Its comprehensive product offering and global infrastructure, along with its extensive relationships with customers and end-users, provide it with access to high-growth markets worldwide, visibility into upcoming projects and the flexibility to serve customers regardless of geographic location. The Company manufactures its products at facilities located in the United States, Germany, Thailand, Chile and Egypt. | |
Effective February 10, 2012, the Company completed its initial public offering (“IPO”) of 7,000,000 shares of common stock. The Company also granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares at the IPO price to cover over-allotments, which was exercised. The IPO price was $9.00 per share and the common stock is currently listed on The New York Stock Exchange under the symbol “GSE”. The Company received proceeds from the IPO, after deducting underwriter’s fees, of approximately $67.4 million. The Company incurred direct and incremental costs associated with the IPO of approximately $3.8 million. The proceeds from the IPO were used to pay down debt ($51.5 million) and for general working capital purposes. The Company also incurred and expensed compensation costs of $6.6 million related to IPO bonuses that were paid in cash ($2.3 million) and the issuance of fully vested common stock ($4.3 million) to certain key executives and directors, and $3.0 million related to a management agreement termination fee, which became payable upon the closing of the IPO. | |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Basis of Accounting [Text Block] | ' |
2. Basis of Presentation — | |
The accompanying condensed consolidated financial statements have been prepared on the same basis as those in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2012. The December 31, 2012 Condensed Consolidated Balance Sheet data was derived from the Company’s year-end audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (‘‘GAAP’’). These condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for the fair presentation of such financial statements for the periods indicated. The Company believes that the disclosures herein are adequate to make the information presented not misleading. Operating results for the first nine months of 2013 are not necessarily indicative of results to be expected for the year ending December 31, 2013. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2012, and the notes thereto included in the 2012 Annual Report on Form 10-K. | |
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts as well as certain disclosures. The Company’s financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates. | |
The accompanying consolidated financial statements have been prepared on the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As discussed in Note 11, the Company is currently working to raise additional unsecured mezzanine indebtedness or other subordinated capital as well as a complete refinancing of the First Lien Credit Facility. While the Company is in compliance with the covenants in the First Lien Credit Facility as of September 30, 2013, based on current projections, the Company believes that it is highly unlikely that it will be in compliance with certain covenants contained in the First Lien Credit Facility for the quarter ending December 31, 2013. Failure to comply with the financial covenants, or any other non-financial or restrictive covenant, could create a default under the First Lien Credit Facility, assuming the Company is unable to secure a waiver from its lenders. The Company cannot predict what actions, if any, its lenders would take following a default with respect to their indebtedness. The Company believes that cash on hand, together with borrowings under its foreign debt facilities and cash generated from operations, will be sufficient to meet working capital requirements, anticipated capital expenditures and scheduled interest payments on indebtedness for at least the next 12 months; however, if the lenders accelerate the maturity of the Company’s debt, it may not have sufficient cash on hand or borrowing capacity to satisfy these obligations, and may not be able to pay its debt or borrow sufficient funds to refinance it on terms that are acceptable to the Company or at all. In such event, the Company may be required sell assets, incur additional indebtedness, raise equity, or reorganize the Company outside the normal course of business. In addition, a contraction in the availability of trade credit would increase cash requirements, and could impact the Company’s ability to obtain raw materials in a timely manner, which could have a material adverse effect on the business and financial condition. The accompanying consolidated financial statements do not include any adjustments that may result from the resolution of these uncertainties. See management’s plans regarding these matters in Note 11. | |
Certain reclassifications were made to the December 31, 2012 and September 30, 2012 consolidated financial statements to conform to the 2013 financial statement presentation. These reclassifications did not have an impact on previously reported results. | |
Note_3_Recent_Accounting_Prono
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
3. Recent Accounting Pronouncements — | |
The Company qualifies as an emerging growth company under Section 101 of the Jumpstart Our Business Startups Act (the “JOBS Act”). An emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, the Company has chosen to “opt out” of such extended transition period, and as a result, is compliant with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non- emerging growth companies. Section 107 of the JOBS Act provides that this decision to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable. | |
Note_4_Goodwill
Note 4 - Goodwill | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||
Asset Impairment Charges [Text Block] | ' | ||||||||||||||||||||
4. Goodwill — | |||||||||||||||||||||
In accordance with Accounting Standards Codification 350 , Intangibles - Goodwill and Other (“ASC 350”), the Company assesses goodwill and intangible assets with indefinite lives for impairment at the reporting unit level on an annual basis and between annual tests if impairment indicators occur or circumstances change that would more likely than not reduce the fair value below its carrying amount. The Company’s annual assessment date is October 1. | |||||||||||||||||||||
During the second quarter of 2013, the Company performed an interim assessment of goodwill related to its Europe Africa reporting unit, due to indications that the fair value of this reporting unit may be less than its carrying amount. Such indications included a continued weakening of economic conditions, under-achievement of previous financial projections and projected continued difficulties in the European market. Based on these indications, an interim impairment test was performed, which resulted in an impairment charge totaling $26.4 million. | |||||||||||||||||||||
During the third quarter of 2013, the Company performed an interim assessment of goodwill due to identification of impairment indicators. Such indicators included continuation of an increased competitive environment, under-achievement of previous financial projections and projected continued difficulties in the North America market. Also, the Company noted a significant decline in its common stock price beginning in August 2013. The interim impairment test resulted in an impairment charge totaling $25.2 million relating to the Company’s North America reporting unit, and no impairment charges were required relating to its Asia Pacific and Latin America reporting units. The fair value of the Asia Pacific and Latin America reporting units exceeded their carrying value as of September 30, 2013 by approximately 79% and 300% , respectively. | |||||||||||||||||||||
In performing the interim goodwill impairment tests, the Company considered three generally accepted approaches for valuing a business: the income, market and cost approaches. Based on the nature of the business and the current and expected financial performance, it was determined that the market and income approaches were the most appropriate methods for estimating the fair value of the reporting unit. For the income approach the discounted cash flow method was utilized, and considered such factors as sales, capital expenditures, incremental working capital requirements, tax rate and discount rate. Consideration of these factors inherently involves a significant amount of judgment, and significant movements in sales or changes in the underlying assumptions may result in fluctuations of estimated fair value. For the market approach, both the guidelines public company and the comparable transaction methods were used. The Company considered such factors as appropriate guideline companies, appropriate comparable transactions and control premiums. In determining the fair value of the reporting unit, it was determined that the income approach provided a better indication of value than the market approach. As such, a 65% weighting was assigned to the income approach and a 35% weighting was assigned to the market approach in estimating the value of the reporting units. | |||||||||||||||||||||
The table below reflects the changes in goodwill by reporting unit during the nine months ended September 30, 2013 (in thousands): | |||||||||||||||||||||
North | Europe | Asia | Latin | Total | |||||||||||||||||
America | Africa | Pacific | America | ||||||||||||||||||
Balance at December 31, 2012 | $ | 22,828 | $ | 26,423 | $ | 5,205 | $ | 4,439 | $ | 58,895 | |||||||||||
Acquisition of SynTec LLC | 2,922 | — | — | — | 2,922 | ||||||||||||||||
Balance at March 31, 2013 | 25,750 | 26,423 | 5,205 | 4,439 | 61,817 | ||||||||||||||||
Impairment charge | — | (26,423 | ) | — | — | (26,423 | ) | ||||||||||||||
SynTec LLC Purchase Price Adjustment | (506 | ) | — | — | — | (506 | ) | ||||||||||||||
Balance at June 30, 2013 | 25,244 | — | 5,205 | 4,439 | 34,888 | ||||||||||||||||
Impairment charge | (25,244 | ) | — | — | — | (25,244 | ) | ||||||||||||||
Balance at September 30, 2013 | $ | — | $ | — | $ | 5,205 | $ | 4,439 | $ | 9,644 | |||||||||||
Note_5_Acquisition_of_SynTec_L
Note 5 - Acquisition of SynTec LLC | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Business Combination Disclosure [Text Block] | ' | ||||
5. Acquisition of SynTec LLC — | |||||
On February 4, 2013, pursuant to a Unit Purchase Agreement dated as of February 4, 2013, the Company acquired all of the outstanding membership units of SynTec LLC (“SynTec”). The total amount of consideration paid in connection with the acquisition was approximately $9.7 million, and this acquisition was funded with existing cash on hand. The SynTec business was acquired by the Company in order to expand its existing market share with additional products, which are complementary to the Company’s existing products, and is reflected in the North America reporting unit. | |||||
The Company incurred approximately $0.7 million of transaction expenses in connection with this acquisition, which are included as a component of selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the acquisition date (in thousands). | |||||
Accounts receivable | $ | 2,079 | |||
Inventory | 1,449 | ||||
Other current assets | 26 | ||||
Property, plant and equipment | 1,335 | ||||
Identifiable intangible assets | 5,121 | ||||
Goodwill | 2,416 | ||||
Accounts payable and accrued liabilities | (2,769 | ) | |||
Net assets acquired | $ | 9,657 | |||
As a result of this acquisition, the Company recognized a total of $5.1 million of identifiable intangible assets and $2.4 million of goodwill (which was included in the third quarter 2013 impairment of the North America reporting unit discussed previously. The total amount of goodwill is deductible for tax purposes. The results of operations of SynTec are reported in the Company’s condensed consolidated financial statements from the date of the acquisition. SynTec net sales for the three and nine months ended September 30, 2013 were approximately $2.5 million and $7.5 million, respectively, and Syntec’s net loss was not material. Pro forma information for the three and nine months ended September 30, 2013 and 2012 is not presented as the acquisition was not material. | |||||
Note_6_Net_Income_Loss_per_Sha
Note 6 - Net Income (Loss) per Share | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share [Text Block] | ' |
6. Net Income (Loss) per Share | |
The Company computes basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potential dilutive shares of common stock been issued. The dilutive effect of employee stock options is reflected in diluted net income (loss) per share by applying the treasury stock method. | |
The Company recorded a net loss for the three months ended September 30, 2013 and the nine months ended September 30, 2013 and 2012, respectively. Potential common shares are anti-dilutive in periods which the Company records a net loss because they would reduce the respective period’s net loss per share. Anti-dilutive potential common shares are excluded from the calculation of diluted earnings per share. As a result, net diluted loss per share was equal to basic net loss per share in the three months ended September 30, 2013 and the nine months ended September 30, 2013 and 2012, respectively. There were approximately 1.2 million and 1.6 million stock options outstanding at September 30, 2013 and 2012, respectively. Of these, 0.4 million and 1.0 million for September 30, 2013 and 2012, respectively, had exercise prices lower than the average quoted market price of Company common shares as of each of those dates. These in-the-money options would have been included in the calculation of diluted earnings per share had the Company not reported a net loss in each of the respective periods. The Company recorded net income during the three months ended September 30, 2012, and included 1.0 million shares related to in-the money options in the diluted weighted-average common shares outstanding for the calculation of diluted net income per share. | |
Note_7_Inventory
Note 7 - Inventory | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
7. Inventory – | |||||||||
Inventory consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Raw materials | $ | 35,162 | $ | 31,563 | |||||
Finished goods | 42,446 | 30,849 | |||||||
Supplies | 4,748 | 4,424 | |||||||
Obsolescence and slow moving allowance | (3,227 | ) | (2,438 | ) | |||||
$ | 79,129 | $ | 64,398 | ||||||
Note_8_Property_Plant_and_Equi
Note 8 - Property, Plant and Equipment | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||||||
8. Property, Plant and Equipment – | |||||||||||||
Property, plant and equipment consisted of the following: | |||||||||||||
Estimated | September 30, | December 31, | |||||||||||
useful | 2013 | 2012 | |||||||||||
lives years | |||||||||||||
(in thousands) | |||||||||||||
Land | $ | 5,698 | $ | 4,832 | |||||||||
Buildings and improvements | 7 | - | 30 | 34,765 | 29,515 | ||||||||
Machinery and equipment | 3 | - | 10 | 127,086 | 117,852 | ||||||||
Software | 3 | 8,766 | 8,400 | ||||||||||
Furniture and fixtures | 3 | - | 5 | 822 | 785 | ||||||||
177,137 | 161,384 | ||||||||||||
Less – accumulated depreciation and amortization | (101,289 | ) | (91,212 | ) | |||||||||
$ | 75,848 | $ | 70,172 | ||||||||||
Depreciation and amortization expense for the three months ended September 30, 2013 and 2012 was $3.8 million and $3.3 million, respectively. Depreciation and amortization expense for the nine months ended September 30, 2013 and 2012 was $10.6 million and $9.8 million, respectively. Depreciation and amortization expense related to production property, plant and equipment is included as a component of cost of products in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
Note_9_Intangible_Assets
Note 9 - Intangible Assets | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||
9. Intangible Assets – | |||||||||||||
Intangible assets are included in Other Assets on the consolidated balance sheets and consisted of the following: | |||||||||||||
Estimated | September 30, | December 31, | |||||||||||
useful | 2013 | 2012 | |||||||||||
lives years | |||||||||||||
(in thousands) | |||||||||||||
Customer lists | 5 | - | 20 | $ | 29,601 | $ | 25,449 | ||||||
Trademarks | 5 | 1,082 | — | ||||||||||
Non-compete agreements | 1 | - | 10 | 2,556 | 2,469 | ||||||||
Other | 1 | 363 | 363 | ||||||||||
33,602 | 28,281 | ||||||||||||
Less accumulated amortization | (28,081 | ) | (26,732 | ) | |||||||||
Intangible assets, net | $ | 5,521 | $ | 1,549 | |||||||||
Amortization expense for intangible assets during the three months ended September 30, 2013 and 2012 was $0.4 million and $0.3 million, respectively. Amortization expense for intangible assets during the nine months ended September 30, 2013 and 2012 was $1.2 million and $0.9 million, respectively. | |||||||||||||
Note_10_Accrued_Liabilities_an
Note 10 - Accrued Liabilities and Other | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Other Liabilities Disclosure [Text Block] | ' | ||||||||
10. Accrued Liabilities and Other – | |||||||||
Accrued liabilities and other consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Customer prepayments | $ | 990 | $ | 759 | |||||
Accrued operating expenses | 4,790 | 5,951 | |||||||
Self-insurance reserves | 1,798 | 1,758 | |||||||
Compensation and benefits | 3,397 | 6,786 | |||||||
Accrued interest | 710 | 2,522 | |||||||
Taxes, other than income | 1,683 | 2,023 | |||||||
Income taxes payable | 96 | 1,691 | |||||||
Deferred income taxes | 767 | 1,156 | |||||||
Other accrued liabilities | 830 | 399 | |||||||
$ | 15,061 | $ | 23,045 | ||||||
Note_11_LongTerm_Debt
Note 11 - Long-Term Debt | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||
Long-term Debt [Text Block] | ' | ||||||||||
11. Long-Term Debt – | |||||||||||
Long-term debt consisted of the following: | |||||||||||
September 30, | December 31, | ||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
First Lien Credit Facility | $ | 170,959 | $ | 168,177 | |||||||
Term Loans – China bank | 6,540 | — | |||||||||
Capital Lease – Capital Source Bank | 2,287 | 3,156 | |||||||||
Other Capital Leases | 168 | 230 | |||||||||
Term Loan – German bank secured by equipment, 5.15%, maturing March 2014 | 171 | 407 | |||||||||
180,125 | 171,970 | ||||||||||
Less – current maturities | (172,452 | ) | (3,147 | ) | |||||||
Unamortized discount on first lien credit facility | — | (1,541 | ) | ||||||||
$ | 7,673 | $ | 167,282 | ||||||||
First Lien Credit Facility – | |||||||||||
The Company has a first lien senior secured credit facility originally in the amount of $170.0 million with General Electric Capital Corporation, Jefferies Finance LLC and the other financial institutions party thereto (as amended from time to time, the “First Lien Credit Facility”), consisting of term loan commitments originally in the amount of $135.0 million (as amended from time to time, the “First Lien Term Loan”) and $35.0 million of revolving loan commitments (as amended from time to time, the “Revolving Credit Facility”). | |||||||||||
On April 18, 2012, the First Lien Credit Facility was amended to increase the First Lien Term Loan commitments from $135.0 million to $157.0 million resulting in aggregate capacity of $192.0 million immediately following such amendment. The Company used the additional borrowing capacity under the First Lien Term Loan to repay in full all outstanding indebtedness under, and to terminate, the Second Lien Term Loan (as defined below) and to pay related fees and expenses. | |||||||||||
The First Lien Credit Facility contains various restrictive covenants that include, among other things, restrictions or limitations on the Company’s ability to incur additional indebtedness or issue disqualified capital stock unless certain financial tests are satisfied; pay dividends, redeem subordinated debt or make other restricted payments; make certain loans, investments or acquisitions; issue stock of subsidiaries; grant or permit certain liens on assets; enter into certain transactions with affiliates; merge, consolidate or transfer substantially all of its assets; incur dividend or other payment restrictions affecting certain subsidiaries; transfer or sell assets including, but not limited to, capital stock of subsidiaries; and change the business the Company conducts. For the twelve months ended June 30, 2013 and December 31, 2012, the Company was subject to a Total Leverage Ratio (which is based on a trailing twelve months calculation) not to exceed 5.25:1.00 and 5.50:1.00, respectively, and an Interest Coverage Ratio of not less than 2.25:1.00 and 2.15:1.00, respectively. As of June 30, 2013, the Company was not in compliance with the Total Leverage Ratio covenant necessitating receiving a waiver and sixth amendment to the facility as discussed below. | |||||||||||
Unless accelerated, the First Lien Credit Facility matures according to its terms in May 2016. Borrowings under the First Lien Credit Facility incur interest expense that is variable in relation to the London Interbank Offer Rates (“LIBOR”) (and/or Prime) rate. As discussed below, effective October 31, 2013, the interest rates on the First Lien Credit Facility loans increased by 50 basis points and will continue to increase by 50 basis points each quarter going forward if the Company does not raise the Junior Capital (as defined below). | |||||||||||
In addition to paying interest on outstanding borrowings under the First Lien Credit Facility, the Company pays a 0.75% per annum commitment fee to the lenders in respect of the unutilized commitments, and letter of credit fees equal to the LIBOR margin on the undrawn amount of all outstanding letters of credit. As of September 30, 2013, there was $172.2 million outstanding under the First Lien Credit Facility consisting of $153.4 million in term loans and $18.8 million in revolving loans, and the weighted average interest rate on such loans was 9.15%. As of September 30, 2013, the Company had no capacity under the Revolving Credit Facility after taking into account outstanding loan advances and letters of credit. | |||||||||||
The obligations under the First Lien Credit Facility are guaranteed on a senior secured basis by the Company and each of its existing and future wholly-owned domestic subsidiaries, other than GSE International, Inc. and any other excluded subsidiaries. The obligations are secured by a first priority perfected security interest in substantially all of the guarantors’ assets, subject to certain exceptions, permitted liens and permitted encumbrances under the First Lien Credit Facility. | |||||||||||
On July 30, 2013, the Company entered into a waiver and sixth amendment to the First Lien Credit Facility (the “Sixth Amendment”), pursuant to which the lenders waived the Company’s default arising as a result of the failure by the Company to be in compliance with the maximum total leverage ratio as of June 30, 2013. The maximum Total Leverage Ratio for the twelve months ending September 30, 2013, December 31, 2013, and March 31, 2014 was also modified to 6.50:1.00, 6.25:1.00, and 5.17:1.00, respectively. Beyond March 31, 2014, the maximum Total Leverage Ratios covenants were not changed by the Sixth Amendment. The Total Leverage Ratio covenant is 4.75:1.00 for the twelve months ended June 30, 2014 and becomes even more restrictive after that date. | |||||||||||
In addition, commencing on October 31, 2013 and continuing until the Company’s Total Leverage Ratio is less than 5.00:1.00 (the “Required Leveraged Date”), the Total Leverage Ratio as of the last day of any fiscal month that is the first or second fiscal month of a fiscal quarter must not be greater than the maximum Total Leverage Ratio required for the most recently completed fiscal quarter. | |||||||||||
The Sixth Amendment also increased the margin on the loans by 200 basis points, modified the definition of “EBITDA” to exclude certain expenses from the calculation of EBITDA for purpose of calculating certain debt covenants, and reduced the Company’s borrowing capacity under the revolving credit facility from $35.0 million to approximately $21.5 million, $3.0 million of which may be used for letters of credit. After giving effect to the reduced borrowing capacity in accordance with the Sixth Amendment, the Company has utilized the full capacity under the First Lien Credit Facility. | |||||||||||
As of September 30, 2013, the Company was in compliance with all covenants under the First Lien Credit Facility. However, based on current projections, the Company believes that it is highly unlikely that it will be in compliance with certain covenants for the quarter ending December 31, 2013. Under the First Lien Credit Facility the Total Leverage Ratio is calculated as the ratio of consolidated indebtedness to consolidated adjusted EBITDA and the interest coverage ratio is calculated as the ratio of consolidated adjusted EBITDA to consolidated interest expense. For the twelve months ended September 30, 2013, the total leverage ratio was required to be 6.50:1.00 or lower and the interest coverage ratio was required to be 2.00:1.00 or higher. The tables below reconcile U.S. GAAP reported amounts for the twelve months ended September 30, 2013, to the adjusted balances per the First Lien Credit Facility (in thousands). | |||||||||||
Consolidated net loss from continuing operations | $ | (67,297 | ) | ||||||||
Interest expense, net | 16,487 | ||||||||||
Income tax provision | 2,620 | ||||||||||
Depreciation and amortization expense | 15,374 | ||||||||||
Impairment of goodwill | 51,667 | ||||||||||
Consolidated EBITDA | 18,851 | ||||||||||
Permitted covenant adjustments | 14,978 | ||||||||||
Consolidated EBITDA for covenant purposes | $ | 33,829 | |||||||||
Short-term debt | $ | 18,372 | |||||||||
Current portion of long-term debt | 172,452 | ||||||||||
Long-term debt | 7,673 | ||||||||||
Debt discount | 1,233 | ||||||||||
Outstanding letters of credit and performance Bonds | 11,951 | ||||||||||
Consolidated indebtedness for covenant purposes | $ | 211,681 | |||||||||
Consolidated interest expense | $ | 16,487 | |||||||||
Amortization of deferred financing costs | (2,491 | ) | |||||||||
Accretion of debt discount | (406 | ) | |||||||||
Consolidated interest expense for covenant purposes | $ | 13,590 | |||||||||
Twelve months ended | |||||||||||
30-Sep-13 | |||||||||||
Required | Actual | ||||||||||
Total leverage ratio | 6.5 | : | 1 | 6.26 | : | 1 | |||||
Interest coverage ratio | 2 | : | 1 | 2.49 | : | 1 | |||||
Failure to comply with the financial covenants, or any other non-financial or restrictive covenant, could create a default under our First Lien Credit Facility, assuming the Company is unable to secure a waiver from its lenders. Upon a default, the Company’s lenders could accelerate the indebtedness under the facilities, foreclose against their collateral or seek other remedies, which would jeopardize the Company’s ability to continue its current operations. The Company may be required to amend its First Lien Credit Facility, refinance all or part of its existing debt, sell assets, incur additional indebtedness or raise equity. Further, based upon the Company’s actual performance levels, its senior secured leverage ratio, leverage ratio and minimum interest coverage ratio requirements or other financial covenants could limit its ability to incur additional debt, which could hinder its ability to execute its current business strategy. The Company cannot predict what actions, if any, its lenders would take following a default with respect to their indebtedness. The Company believes that cash on hand, together with borrowings under its foreign debt facilities and cash generated from operations, will be sufficient to meet working capital requirements, anticipated capital expenditures and scheduled interest payments on indebtedness for at least the next 12 months; however, if the lenders accelerate the maturity of the Company’s debt, the Company maynot have sufficient cash on hand or borrowing capacity to satisfy these obligations, and may not be able to pay its debt or borrow sufficient funds to refinance it on terms that are acceptable to the Company or at all. In such event, the Company may be required to sell assets, incur additional indebtedness, raise equity, or reorganize the Company outside the normal course of business. | |||||||||||
In accordance with the Sixth Amendment, the Company was required to use its best efforts to raise at least $20.0 million of additional unsecured mezzanine indebtedness or other subordinated capital, reasonably acceptable to General Electric Capital Corporation (the “Junior Capital”) on or before October 31, 2013. The first $10.0 million of this mezzanine Junior Capital will be applied to pay down the First Lien Credit Facility. Since the Company has not yet obtained the Junior Capital, effective October 31, 2013 the margin on the First Lien Credit Facility loans increased by 50 basis points and will increase by 50 basis points each quarter going forward if the Company does not raise the Junior Capital. | |||||||||||
In July 2013, the Company engaged an investment bank to assist with the process of raising additional unsecured mezzanine indebtedness or other subordinated additional capital. With the help of the investment bank, the Company has also been seeking to secure a complete refinancing of our First Lien Credit Facility ($172.2 million as of September 30, 2013). As of November 14, 2013, the Company is continuing to work with the investment bank, its existing lenders, and other interested parties to complete the refinancing of the First Lien Credit Facility in full by the end of 2013. However, even if commitments are obtained, the Company may need to satisfy various conditions before the lender will make a loan to the Company. Therefore, this effort may not result in any debt financing at all. Based on current facts and circumstances, and in accordance with ASC470-10-45, debt outstanding under the First Lien Credit Facility has been classified as current in the Consolidated Balance Sheet as management believes it is the most appropriate presentation. | |||||||||||
Supplemental First Lien Revolving Credit Agreement | |||||||||||
On August 8, 2013, the Company entered into a supplemental $8.0 million First Lien Revolving Credit Agreement (the “First Lien Revolving Facility”) with General Electric Capital Corporation and the other financial institutions party thereto. | |||||||||||
The Supplemental First Lien Revolving Facility matured on October 31, 2013. As of September 30, 2013, there were no amounts outstanding under the Supplemental Lien Revolving Facility and the borrowing capacity was reduced to $0.9 million which was available through October 31, 2013. As of October 31, 2013 the Supplemental First Lien Revolving Credit Facility was paid in full and such facility was terminated. | |||||||||||
Second Lien Term Loan – | |||||||||||
In 2011, the Company also entered into a 5.5 year, $40.0 million second lien senior secured credit facility consisting of $40.0 million of term loan commitments (the “Second Lien Term Loan”). The Second Lien Term Loan was paid in full on April 18, 2012, and the arrangement was terminated. | |||||||||||
Capital Leases – | |||||||||||
On August 17, 2012, the Company entered into an equipment financing arrangement with CapitalSource Bank. The lease is a three-year lease for equipment cost up to $10.0 million. As of September 30, 2013, there was $2.3 million outstanding under this lease arrangement, with monthly payments of $0.1 million and an implied interest rate of 7.09%. | |||||||||||
During 2012, the Company entered into three other capitalized leases with commercial financial institutions. These leases are for terms of three to four years for equipment cost of $0.3 million with implied interest rates from 5.42% to 8.72%. As of September 30, 2013, there was approximately $0.2 million outstanding under these leases. | |||||||||||
In accordance with the terms of the Sixth Amendment to the First Lien Credit Facility discussed above, the Company is limited to $6.0 million in total capital leases. | |||||||||||
Term Loans-China Bank – | |||||||||||
As of September 30, 2013, the Company had two unsecured term loans with the China Construction Bank. One loan is denominated in U. S. dollars and the other loan is denominated in the Chinese Yuan (“CNY”). The maximum amount that can be borrowed under these term loans is CNY 90.0 million ($14.5 million). The U. S dollar denominated loan limit is $7.0 million, and the CNY denominated loan limit is CNY 46.0 million ($7.5 million). The borrowings on these loans can only be used to finance the construction of the Company’s new facility in China and were entered into on July 8, 2013. Proceeds from the U. S dollar denominated loan are used to purchase machinery and equipment from suppliers not located in China and the proceeds from the CNY denominated loan are used to purchase machinery and equipment from suppliers located in China. Each of these loans is for a term of seven years; interest is paid monthly with semi-annual principal payments beginning December 31, 2015 and ending June 30, 2020. The interest rate for the U. S. dollar denominated loan is LIBOR plus 380 basis points and is reset every three months. The interest rate for the CNY denominated loan is the lending interest rate quoted by the People’s Bank of China and is reset on annual basis. As of September 30, 2013, there was $6.5 million outstanding under these term loans consisting of $3.5 million outstanding under the U. S. dollar denominated loan and CNY 18.9 million ($3.0 million) outstanding under the CNY denominated loan, and the weighted average interest rate was 5.21%. | |||||||||||
Non-Dollar Denominated Credit Facilities – | |||||||||||
As of September 30, 2013, the Company had six credit facilities with several of its international subsidiaries. | |||||||||||
The Company has two credit facilities with German banks in the amount of EUR 6.0 million ($8.1 million). These revolving credit facilities bear interest at various market rates, and are used primarily to guarantee the performance of European installation contracts and temporary working capital requirements. As of September 30, 2013, there was EUR 0.7 million ($1.0 million) outstanding under the lines of credit, EUR 1.9 million ($2.5 million) of bank guarantees and letters of credit outstanding, and EUR 3.4 million ($4.6million) available under these credit facilities. In addition there was a EUR 0.2 million ($0.3 million) secured term loan with a German bank outstanding as of September 30, 2013, with a maturity date in March 2014. | |||||||||||
The Company has three credit facilities with Egyptian banks in the amount of EGP 15.0 million ($2.1 million). These credit facilities bear interest at various market rates, and are primarily for cash management purposes. There was EGP 5.5 million ($0.8 million) outstanding under these lines of credit, EGP 4.1 million ($0.6 million) of bank guarantees and letters of credit outstanding, and EGP 5.4 million ($0.7 million) available under these credit facilities as of September 30, 2013. | |||||||||||
The Company has a BAHT 600.0 million ($19.2 million) Trade on Demand Financing (accounts receivable) facility with Thai Military Bank Public Company Limited (“TMB”). This facility bears interest at LIBOR plus1.75%, is unsecured and may be terminated at any time by either TMB or the Company. This facility permits the Company to borrow funds upon presentation of proper documentation of purchase orders or accounts receivable from our customers, in each case with a maximum term not to exceed 180 days. The Company maintains a bank account with TMB, assigns rights to the accounts receivable used for borrowings under this facility, and instructs these customers to remit payments to the bank account with TMB. TMB may, in its sole discretion, deduct or withhold funds from the Company’s bank account for settlement of any amounts owed by the Company under this facility. There was approximately BAHT 519.3 million ($16.6 million) outstanding and BAHT 80.6 million ($2.6) million available under this facility as of September 30, 2013. | |||||||||||
Note_12_Fair_Value_of_Financia
Note 12 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value Disclosures [Text Block] | ' |
12. Fair Value of Financial Instruments – | |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, GAAP requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. | |
The three levels of inputs used are as follows: | |
Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities. | |
Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. | |
The Company’s financial instruments consist primarily of cash and cash equivalents, trade receivables, trade payables and debt instruments. The carrying values of cash and cash equivalents, trade receivables and trade payables are considered to be representative of their respective fair values due to the short-term nature of these instruments. The fair value of the First Lien Credit Facility as of September 30, 2013 was approximately $155.0 million. The carrying amount of the remaining long-term debt of $9.2 million as of September 30, 2013 approximates fair value because the Company’s current borrowing rate does not materially differ from market rates for similar bank borrowings. The long-term debt is classified as a Level 2 item within the fair value hierarchy. | |
The Company has assets and liabilities measured and recorded at fair value on a non-recurring basis. These non-financial assets and liabilities include, property, plant and equipment, intangible assets and liabilities acquired in a business combination as well as impairment calculations, when necessary. The fair value of the assets acquired and liabilities assumed in connection with the SynTec acquisition, as discussed in Note 5, were measured at fair value at the acquisition date. The excess earnings method was used in determining the fair value of customer relationships included in identifiable intangible assets and the relief from royalty method was used in determining the fair value of the trade name / marks included in identifiable intangible assets. The fair value of the property, plant and equipment was determined based on an independent appraisal of a third party. The inputs used by management for the fair value measurements include significant unobservable inputs, and therefore, the fair value measurements employed are classified as Level 3. The goodwill impairment (see Note 4) was primarily based on observable inputs using Company specific information and is classified as Level 3. | |
Note_13_StockBased_Compensatio
Note 13 - Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
13. Stock-Based Compensation – | |
As of September 30, 2013 there were approximately 1.2 million stock options outstanding with an exercise price range of $0.67 to $11.57 and a weighted average exercise price of $4.63. There were 25,000 and 290,840 options granted during the three and nine months ended September 30, 2013, respectively. There were 191,872 shares of restricted stock granted with a one year or three year vesting period during the nine months ended September 30, 2013, and there were no shares of restricted issued during the three months ended September 30, 2013. During the nine months ended September 30, 2012, 200,650 stock options were granted. Also during the nine months ended September 30, 2012, 57,300 shares of restricted stock were granted with a three year vesting period. | |
There was $0. 4 million and $0.8 million of stock-based compensation expense related to stock options and restricted stock for the three and nine months ended September 30, 2013, respectively, and $0.1 million of stock-based compensation expense for the three months ended September 30, 2012. For the nine months ended September 30, 2012, there was stock-based compensation expense of $4.5 million, of which $4.3 million was related to 478,467 shares of fully vested common stock that was issued to certain key executives and directors in connection with the IPO. | |
All outstanding stock options are held by employees and former employees of the Company and have an expiration date of 10 years from the date of grant. At September 30, 2013, the average remaining contractual life of options outstanding and exercisable was 2.5 years. | |
Note_14_Income_Taxes
Note 14 - Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
14. Income Taxes – | |
Income tax expense from continuing operations for the three months ended September 30, 2013 and 2012 was $6.0 million and $0.8 million, respectively. Income tax expense from continuing operations for the nine months ended September 30, 2013 and 2012 was $5.7 million and $3.5 million, respectively. The effective tax rates were 20.2% and 12.3% for the three months ended September 30, 2013 and 2012, respectively, and 8.7% for the nine months ended September 30, 2013. The difference in the effective tax rate compared with the U.S. federal statutory rate in 2013 is due to the mix of the international jurisdictional rates, nondeductible goodwill impairment, U.S. permanent differences relating to foreign taxes and an increase in the valuation allowance. | |
The realization of the deferred tax assets depends on recognition of sufficient future taxable income in specific tax jurisdictions during periods in which those temporary differences are deductible. Valuation allowances are established when necessary to reduce deferred income tax assets to the amounts the Company believes are more likely than not to be recovered. In evaluating the valuation allowance, the Company considered the reversal of existing temporary differences, the existence of taxable income in prior carryback years, tax planning strategies and future taxable income for each of the taxable jurisdictions, the latter two of which involve the exercise of significant judgment. During the three months ended September 30, 2013, a full valuation allowance was recorded in the amount of $6.6 million against the U.S. net deferred tax assets. This was driven by recent negative evidence, including recent losses and expected future losses, overcoming positive evidence. | |
Note_15_Commitments_and_Contin
Note 15 - Commitments and Contingencies | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
15. Commitments and Contingencies – | |||||||||
Warranties | |||||||||
The Company’s products are sold and installed with specified limited warranties as to material quality and workmanship. These limited warranties may last for up to 20 years, but are generally limited to repair or replacement by the Company of the defective liner or the dollar amount of the contract involved, on a prorated basis. The Company may also indemnify the site owner or general contractor for other damages resulting from negligence of the Company’s employees. The Company accrues a warranty reserve based on estimates for warranty claims. This estimate is based on historical claims history and current business activities and is accrued as a cost of sales in the period such business activity occurs. The table below reflects a summary of activity of the Company’s operations for warranty obligations for the nine months ended September 30, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Balance at January 1, | $ | 1,175 | $ | 2,225 | |||||
Changes in estimates | (15 | ) | 9 | ||||||
Payments | — | (35 | ) | ||||||
Balance at March 31, | 1,160 | 2,199 | |||||||
Changes in estimates | (178 | ) | (739 | ) | |||||
Payments | — | (42 | ) | ||||||
Balance at June 30, | 982 | 1,418 | |||||||
Changes in estimates | 7 | 2 | |||||||
Payments | — | (15 | ) | ||||||
Balance at September 30, | $ | 989 | $ | 1,405 | |||||
Although the Company is not generally exposed to the type of potential liability that might arise from being in the business of handling, transporting or storing hazardous waste or materials, the Company could be susceptible to liability for environmental damage or personal injury resulting from defects in the Company’s products or negligence by Company employees in the installation of its lining systems. Such liability could be substantial because of the potential that hazardous or other waste materials might leak out of their containment system into the environment. The Company maintains liability insurance, which includes contractor’s pollution liability coverage in amounts which it believes to be prudent. However, there is no assurance that this coverage will remain available to the Company. While the Company’s claims experience to date may not be a meaningful measure of its potential exposure for product liability, the Company has experienced no material losses from defects in products and installations. | |||||||||
Bonding – Bank Guarantees – | |||||||||
The Company, in some direct sales and raw material acquisition situations, is required to post performance bonds or bank guarantees as part of the contractual guarantee for its performance. The performance bonds or bank guarantees can be in the full amount of the contracts. To date the Company has not received any claims against any of the posted securities, most of which terminate at the final completion date of the contracts. As of September 30, 2013, the Company had $6.6 million of bonds outstanding and $5.3 million of guarantees and letters of credit issued under its bank lines. | |||||||||
Litigation and Claims – | |||||||||
The Company is a party to various legal actions arising in the ordinary course of our business. These legal actions cover a broad variety of claims spanning the Company’s entire business. The Company believes it is not probable and reasonably estimable that resolution of these legal actions will, individually or in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows. | |||||||||
Note_16_Related_Party_Transact
Note 16 - Related Party Transaction | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
16. Related Party Transaction – | |
Management Agreement with CHS Management IV LP | |
In connection with the 2004 acquisition of the Company by CHS, the Company and GEO Holdings entered into a management agreement with CHS Management IV LP (“CHS Management”) a limited partnership (1) of which CHS is the general partner and (2) which is the general partner of CHS IV. Pursuant to the management agreement, CHS Management provided certain financial and management consulting services to GEO Holdings and to the Company. In consideration of those services, the Company paid fees to CHS Management in an aggregate annual amount of $2.0 million payable in equal monthly installments. Under the management agreement, the Company paid and expensed $0.2 million during the nine months ended September 30, 2012. In connection with the Company’s IPO, the management agreement was terminated and a fee of $3.0 million was paid and expensed during the nine months ended September 30, 2012. The amounts paid to CHS Management are included in selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss. As of September 30, 2013, there were no amounts payable to CHS Management under the terminated agreement. | |
Note_17_Segment_Information
Note 17 - Segment Information | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||||||
17. Segment Information – | |||||||||||||||||||||||||
The Company’s operating and external reporting segments are based on geographic regions, which is consistent with the basis of how management internally reports and evaluates financial information used to make operating decisions. The Company’s reportable segments are North America, Europe Africa, Asia Pacific, Latin America and Middle East. | |||||||||||||||||||||||||
The following tables present information about the results from continuing operations and assets of the Company’s reportable segments for the periods presented. | |||||||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 48,907 | $ | 35,638 | $ | 21,548 | $ | 9,696 | $ | 2,187 | $ | 117,976 | |||||||||||||
Intersegment sales | 3,693 | — | 1,202 | — | 2,364 | 7,259 | |||||||||||||||||||
Total segment net sales | 52,600 | 35,638 | 22,750 | 9,696 | 4,551 | 125,235 | |||||||||||||||||||
Gross profit | 6,384 | 4,275 | 2,073 | 790 | 173 | 13,695 | |||||||||||||||||||
Gross margin | 13.1 | % | 12 | % | 9.6 | % | 8.1 | % | 7.9 | % | 11.6 | % | |||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 48,229 | $ | 41,207 | $ | 24,331 | $ | 6,173 | $ | 1,260 | $ | 121,200 | |||||||||||||
Intersegment sales | 8,780 | 35 | 5,090 | — | 1,119 | 15,024 | |||||||||||||||||||
Total segment net sales | 57,009 | 41,242 | 29,421 | 6,173 | 2,379 | 136,224 | |||||||||||||||||||
Gross profit | 11,972 | 4,104 | 4,426 | 617 | (69 | ) | 21,050 | ||||||||||||||||||
Gross margin | 24.8 | % | 10 | % | 18.2 | % | 10 | % | (5.5 | )% | 17.4 | % | |||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentage) | |||||||||||||||||||||||||
Net sales to external customers | $ | 136,555 | $ | 86,824 | $ | 60,137 | $ | 28,678 | $ | 9,117 | $ | 321,311 | |||||||||||||
Intersegment sales | 18,302 | 97 | 7,443 | — | 3,946 | 29,788 | |||||||||||||||||||
Total segment net sales | 154,857 | 86,921 | 67,580 | 28,678 | 13,063 | 351,099 | |||||||||||||||||||
Gross profit | 23,629 | 5,350 | 7,205 | 2,994 | 983 | 40,161 | |||||||||||||||||||
Gross margin | 17.3 | % | 6.2 | % | 12 | % | 10.4 | % | 10.8 | % | 12.5 | % | |||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 144,562 | $ | 108,225 | $ | 66,975 | $ | 29,846 | $ | 5,677 | $ | 355,285 | |||||||||||||
Intersegment sales | 27,352 | 35 | 10,542 | — | 3,446 | 41,375 | |||||||||||||||||||
Total segment net sales | 171,914 | 108,260 | 77,517 | 29,846 | 9,123 | 396,660 | |||||||||||||||||||
Gross profit | 34,034 | 10,402 | 11,599 | 3,214 | 400 | 59,649 | |||||||||||||||||||
Gross margin | 23.5 | % | 9.6 | % | 17.3 | % | 10.8 | % | 7 | % | 16.8 | % | |||||||||||||
The following tables reconcile the segment net sales information presented above to the consolidated financial information. | |||||||||||||||||||||||||
Reconciliation to Consolidated Sales | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total segment net sales | $ | 125,235 | $ | 136,224 | $ | 351,099 | $ | 396,660 | |||||||||||||||||
Intersegment sales | (7,259 | ) | (15,024 | ) | (29,788 | ) | (41,375 | ) | |||||||||||||||||
Consolidated net sales | $ | 117,976 | $ | 121,200 | $ | 321,311 | $ | 355,285 | |||||||||||||||||
The following tables present information about total assets of the Company’s reportable segments (in thousands): | |||||||||||||||||||||||||
N. | Europe | Asia | Latin | Middle | Total | ||||||||||||||||||||
America | Africa | Pacific | America | East | |||||||||||||||||||||
31-Dec-12 | $ | 229,272 | $ | 62,154 | $ | 66,283 | $ | 38,774 | $ | 16,715 | $ | 413,188 | |||||||||||||
30-Sep-13 | $ | 160,808 | $ | 56,445 | $ | 81,353 | $ | 24,375 | $ | 19,599 | $ | 342,580 | |||||||||||||
Reconciliation to Consolidated Assets | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Total segment assets | $ | 342,580 | $ | 413,188 | |||||||||||||||||||||
Intersegment balances | (46,041 | ) | (77,090 | ) | |||||||||||||||||||||
Consolidated assets | $ | 296,539 | $ | 336,098 | |||||||||||||||||||||
Note_4_Goodwill_Tables
Note 4 - Goodwill (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||||||
North | Europe | Asia | Latin | Total | |||||||||||||||||
America | Africa | Pacific | America | ||||||||||||||||||
Balance at December 31, 2012 | $ | 22,828 | $ | 26,423 | $ | 5,205 | $ | 4,439 | $ | 58,895 | |||||||||||
Acquisition of SynTec LLC | 2,922 | — | — | — | 2,922 | ||||||||||||||||
Balance at March 31, 2013 | 25,750 | 26,423 | 5,205 | 4,439 | 61,817 | ||||||||||||||||
Impairment charge | — | (26,423 | ) | — | — | (26,423 | ) | ||||||||||||||
SynTec LLC Purchase Price Adjustment | (506 | ) | — | — | — | (506 | ) | ||||||||||||||
Balance at June 30, 2013 | 25,244 | — | 5,205 | 4,439 | 34,888 | ||||||||||||||||
Impairment charge | (25,244 | ) | — | — | — | (25,244 | ) | ||||||||||||||
Balance at September 30, 2013 | $ | — | $ | — | $ | 5,205 | $ | 4,439 | $ | 9,644 | |||||||||||
Note_5_Acquisition_of_SynTec_L1
Note 5 - Acquisition of SynTec LLC (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||
Accounts receivable | $ | 2,079 | |||
Inventory | 1,449 | ||||
Other current assets | 26 | ||||
Property, plant and equipment | 1,335 | ||||
Identifiable intangible assets | 5,121 | ||||
Goodwill | 2,416 | ||||
Accounts payable and accrued liabilities | (2,769 | ) | |||
Net assets acquired | $ | 9,657 | |||
Note_7_Inventory_Tables
Note 7 - Inventory (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Raw materials | $ | 35,162 | $ | 31,563 | |||||
Finished goods | 42,446 | 30,849 | |||||||
Supplies | 4,748 | 4,424 | |||||||
Obsolescence and slow moving allowance | (3,227 | ) | (2,438 | ) | |||||
$ | 79,129 | $ | 64,398 | ||||||
Note_8_Property_Plant_and_Equi1
Note 8 - Property, Plant and Equipment (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||
Estimated | September 30, | December 31, | |||||||||||
useful | 2013 | 2012 | |||||||||||
lives years | |||||||||||||
(in thousands) | |||||||||||||
Land | $ | 5,698 | $ | 4,832 | |||||||||
Buildings and improvements | 7 | - | 30 | 34,765 | 29,515 | ||||||||
Machinery and equipment | 3 | - | 10 | 127,086 | 117,852 | ||||||||
Software | 3 | 8,766 | 8,400 | ||||||||||
Furniture and fixtures | 3 | - | 5 | 822 | 785 | ||||||||
177,137 | 161,384 | ||||||||||||
Less – accumulated depreciation and amortization | (101,289 | ) | (91,212 | ) | |||||||||
$ | 75,848 | $ | 70,172 | ||||||||||
Note_9_Intangible_Assets_Table
Note 9 - Intangible Assets (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||
Estimated | September 30, | December 31, | |||||||||||
useful | 2013 | 2012 | |||||||||||
lives years | |||||||||||||
(in thousands) | |||||||||||||
Customer lists | 5 | - | 20 | $ | 29,601 | $ | 25,449 | ||||||
Trademarks | 5 | 1,082 | — | ||||||||||
Non-compete agreements | 1 | - | 10 | 2,556 | 2,469 | ||||||||
Other | 1 | 363 | 363 | ||||||||||
33,602 | 28,281 | ||||||||||||
Less accumulated amortization | (28,081 | ) | (26,732 | ) | |||||||||
Intangible assets, net | $ | 5,521 | $ | 1,549 | |||||||||
Note_10_Accrued_Liabilities_an1
Note 10 - Accrued Liabilities and Other (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Customer prepayments | $ | 990 | $ | 759 | |||||
Accrued operating expenses | 4,790 | 5,951 | |||||||
Self-insurance reserves | 1,798 | 1,758 | |||||||
Compensation and benefits | 3,397 | 6,786 | |||||||
Accrued interest | 710 | 2,522 | |||||||
Taxes, other than income | 1,683 | 2,023 | |||||||
Income taxes payable | 96 | 1,691 | |||||||
Deferred income taxes | 767 | 1,156 | |||||||
Other accrued liabilities | 830 | 399 | |||||||
$ | 15,061 | $ | 23,045 | ||||||
Note_11_LongTerm_Debt_Tables
Note 11 - Long-Term Debt (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||
September 30, | December 31, | ||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
First Lien Credit Facility | $ | 170,959 | $ | 168,177 | |||||||
Term Loans – China bank | 6,540 | — | |||||||||
Capital Lease – Capital Source Bank | 2,287 | 3,156 | |||||||||
Other Capital Leases | 168 | 230 | |||||||||
Term Loan – German bank secured by equipment, 5.15%, maturing March 2014 | 171 | 407 | |||||||||
180,125 | 171,970 | ||||||||||
Less – current maturities | (172,452 | ) | (3,147 | ) | |||||||
Unamortized discount on first lien credit facility | — | (1,541 | ) | ||||||||
$ | 7,673 | $ | 167,282 | ||||||||
Reconciliation to Adjusted Balances Per Debt Covenants [Table Text Block] | ' | ||||||||||
Consolidated net loss from continuing operations | $ | (67,297 | ) | ||||||||
Interest expense, net | 16,487 | ||||||||||
Income tax provision | 2,620 | ||||||||||
Depreciation and amortization expense | 15,374 | ||||||||||
Impairment of goodwill | 51,667 | ||||||||||
Consolidated EBITDA | 18,851 | ||||||||||
Permitted covenant adjustments | 14,978 | ||||||||||
Consolidated EBITDA for covenant purposes | $ | 33,829 | |||||||||
Short-term debt | $ | 18,372 | |||||||||
Current portion of long-term debt | 172,452 | ||||||||||
Long-term debt | 7,673 | ||||||||||
Debt discount | 1,233 | ||||||||||
Outstanding letters of credit and performance Bonds | 11,951 | ||||||||||
Consolidated indebtedness for covenant purposes | $ | 211,681 | |||||||||
Consolidated interest expense | $ | 16,487 | |||||||||
Amortization of deferred financing costs | (2,491 | ) | |||||||||
Accretion of debt discount | (406 | ) | |||||||||
Consolidated interest expense for covenant purposes | $ | 13,590 | |||||||||
Schedule of Debt Covenant Ratios [Table Text Block] | ' | ||||||||||
Twelve months ended | |||||||||||
30-Sep-13 | |||||||||||
Required | Actual | ||||||||||
Total leverage ratio | 6.5 | : | 1 | 6.26 | : | 1 | |||||
Interest coverage ratio | 2 | : | 1 | 2.49 | : | 1 |
Note_15_Commitments_and_Contin1
Note 15 - Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Balance at January 1, | $ | 1,175 | $ | 2,225 | |||||
Changes in estimates | (15 | ) | 9 | ||||||
Payments | — | (35 | ) | ||||||
Balance at March 31, | 1,160 | 2,199 | |||||||
Changes in estimates | (178 | ) | (739 | ) | |||||
Payments | — | (42 | ) | ||||||
Balance at June 30, | 982 | 1,418 | |||||||
Changes in estimates | 7 | 2 | |||||||
Payments | — | (15 | ) | ||||||
Balance at September 30, | $ | 989 | $ | 1,405 | |||||
Note_17_Segment_Information_Ta
Note 17 - Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 48,907 | $ | 35,638 | $ | 21,548 | $ | 9,696 | $ | 2,187 | $ | 117,976 | |||||||||||||
Intersegment sales | 3,693 | — | 1,202 | — | 2,364 | 7,259 | |||||||||||||||||||
Total segment net sales | 52,600 | 35,638 | 22,750 | 9,696 | 4,551 | 125,235 | |||||||||||||||||||
Gross profit | 6,384 | 4,275 | 2,073 | 790 | 173 | 13,695 | |||||||||||||||||||
Gross margin | 13.1 | % | 12 | % | 9.6 | % | 8.1 | % | 7.9 | % | 11.6 | % | |||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 48,229 | $ | 41,207 | $ | 24,331 | $ | 6,173 | $ | 1,260 | $ | 121,200 | |||||||||||||
Intersegment sales | 8,780 | 35 | 5,090 | — | 1,119 | 15,024 | |||||||||||||||||||
Total segment net sales | 57,009 | 41,242 | 29,421 | 6,173 | 2,379 | 136,224 | |||||||||||||||||||
Gross profit | 11,972 | 4,104 | 4,426 | 617 | (69 | ) | 21,050 | ||||||||||||||||||
Gross margin | 24.8 | % | 10 | % | 18.2 | % | 10 | % | (5.5 | )% | 17.4 | % | |||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentage) | |||||||||||||||||||||||||
Net sales to external customers | $ | 136,555 | $ | 86,824 | $ | 60,137 | $ | 28,678 | $ | 9,117 | $ | 321,311 | |||||||||||||
Intersegment sales | 18,302 | 97 | 7,443 | — | 3,946 | 29,788 | |||||||||||||||||||
Total segment net sales | 154,857 | 86,921 | 67,580 | 28,678 | 13,063 | 351,099 | |||||||||||||||||||
Gross profit | 23,629 | 5,350 | 7,205 | 2,994 | 983 | 40,161 | |||||||||||||||||||
Gross margin | 17.3 | % | 6.2 | % | 12 | % | 10.4 | % | 10.8 | % | 12.5 | % | |||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||
N. America | Europe Africa | Asia Pacific | Latin America | Middle East | Total | ||||||||||||||||||||
(in thousands, except percentages) | |||||||||||||||||||||||||
Net sales to external customers | $ | 144,562 | $ | 108,225 | $ | 66,975 | $ | 29,846 | $ | 5,677 | $ | 355,285 | |||||||||||||
Intersegment sales | 27,352 | 35 | 10,542 | — | 3,446 | 41,375 | |||||||||||||||||||
Total segment net sales | 171,914 | 108,260 | 77,517 | 29,846 | 9,123 | 396,660 | |||||||||||||||||||
Gross profit | 34,034 | 10,402 | 11,599 | 3,214 | 400 | 59,649 | |||||||||||||||||||
Gross margin | 23.5 | % | 9.6 | % | 17.3 | % | 10.8 | % | 7 | % | 16.8 | % | |||||||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | ||||||||||||||||||||||||
Reconciliation to Consolidated Sales | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total segment net sales | $ | 125,235 | $ | 136,224 | $ | 351,099 | $ | 396,660 | |||||||||||||||||
Intersegment sales | (7,259 | ) | (15,024 | ) | (29,788 | ) | (41,375 | ) | |||||||||||||||||
Consolidated net sales | $ | 117,976 | $ | 121,200 | $ | 321,311 | $ | 355,285 | |||||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||||||||||||||||||
N. | Europe | Asia | Latin | Middle | Total | ||||||||||||||||||||
America | Africa | Pacific | America | East | |||||||||||||||||||||
31-Dec-12 | $ | 229,272 | $ | 62,154 | $ | 66,283 | $ | 38,774 | $ | 16,715 | $ | 413,188 | |||||||||||||
30-Sep-13 | $ | 160,808 | $ | 56,445 | $ | 81,353 | $ | 24,375 | $ | 19,599 | $ | 342,580 | |||||||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | ||||||||||||||||||||||||
Reconciliation to Consolidated Assets | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Total segment assets | $ | 342,580 | $ | 413,188 | |||||||||||||||||||||
Intersegment balances | (46,041 | ) | (77,090 | ) | |||||||||||||||||||||
Consolidated assets | $ | 296,539 | $ | 336,098 |
Note_1_Nature_of_Business_Deta
Note 1 - Nature of Business (Details) (USD $) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2012 | Sep. 30, 2012 | |
Note 1 - Nature of Business (Details) [Line Items] | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | 7,000,000 | ' |
IPO Additional Shares, Period | '30 days | ' |
IPO Additional Shares Available (in Shares) | 1,050,000 | ' |
IPO Price Per Share (in Dollars per share) | $9 | ' |
Proceeds from Issuance Initial Public Offering | ' | $65,927,000 |
Payments of Stock Issuance Costs | 3,800,000 | ' |
Extinguishment of Debt, Amount | 51,500,000 | ' |
Salaries, Wages and Officers' Compensation | 6,600,000 | ' |
IPO Management Agreement Termination Fee | 3,000,000 | 3,000,000 |
Net of Underwriting Fees [Member] | ' | ' |
Note 1 - Nature of Business (Details) [Line Items] | ' | ' |
Proceeds from Issuance Initial Public Offering | 67,400,000 | ' |
Paid In Cash [Member] | ' | ' |
Note 1 - Nature of Business (Details) [Line Items] | ' | ' |
Salaries, Wages and Officers' Compensation | 2,300,000 | ' |
Paid In Fully Vested Common Stock [Member] | ' | ' |
Note 1 - Nature of Business (Details) [Line Items] | ' | ' |
Salaries, Wages and Officers' Compensation | $4,300,000 | ' |
Note_4_Goodwill_Details
Note 4 - Goodwill (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss (in Dollars) | $25,244,000 | $26,423,000 | $51,667,000 | $51,667,000 |
Income Approach Valuation Technique [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Fair Value Weighting | 65.00% | ' | ' | ' |
Market Approach Valuation Technique [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Fair Value Weighting | 35.00% | ' | ' | ' |
Europe Africa [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss (in Dollars) | ' | 26,423,000 | ' | ' |
North America [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss (in Dollars) | 25,244,000 | ' | ' | ' |
Asia Pacific [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss (in Dollars) | 0 | ' | ' | ' |
Percentage of Fair Value Exceeding Carrying Value | 79.00% | ' | ' | ' |
Latin America [Member] | ' | ' | ' | ' |
Note 4 - Goodwill (Details) [Line Items] | ' | ' | ' | ' |
Goodwill, Impairment Loss (in Dollars) | $0 | ' | ' | ' |
Percentage of Fair Value Exceeding Carrying Value | 300.00% | ' | ' | ' |
Note_4_Goodwill_Details_Goodwi
Note 4 - Goodwill (Details) - Goodwill (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 04, 2013 | Dec. 31, 2012 | |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | $9,644,000 | $34,888,000 | $61,817,000 | $9,644,000 | $9,644,000 | $2,416,000 | $58,895,000 |
Impairment charge | -25,244,000 | -26,423,000 | ' | -51,667,000 | -51,667,000 | ' | ' |
SynTec LLC Purchase Price Adjustment | ' | -506,000 | ' | ' | ' | ' | ' |
Acquisition of SynTec LLC | ' | ' | 2,922,000 | ' | ' | ' | ' |
North America [Member] | ' | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | 25,244,000 | 25,750,000 | ' | ' | ' | 22,828,000 |
Impairment charge | -25,244,000 | ' | ' | ' | ' | ' | ' |
SynTec LLC Purchase Price Adjustment | ' | -506,000 | ' | ' | ' | ' | ' |
Acquisition of SynTec LLC | ' | ' | 2,922,000 | ' | ' | ' | ' |
Europe Africa [Member] | ' | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 26,423,000 | ' | ' | ' | 26,423,000 |
Impairment charge | ' | -26,423,000 | ' | ' | ' | ' | ' |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 5,205,000 | 5,205,000 | 5,205,000 | 5,205,000 | 5,205,000 | ' | 5,205,000 |
Impairment charge | 0 | ' | ' | ' | ' | ' | ' |
Latin America [Member] | ' | ' | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 4,439,000 | 4,439,000 | 4,439,000 | 4,439,000 | 4,439,000 | ' | 4,439,000 |
Impairment charge | $0 | ' | ' | ' | ' | ' | ' |
Note_5_Acquisition_of_SynTec_L2
Note 5 - Acquisition of SynTec LLC (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||
Feb. 04, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Acquisition of SynTec LLC (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | $700,000 | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 5,121,000 | ' | ' | ' | ' | ' |
Goodwill | 2,416,000 | 9,644,000 | 9,644,000 | 34,888,000 | 61,817,000 | 58,895,000 |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | 2,500,000 | 7,500,000 | ' | ' | ' |
SynTec, LLC [Member] | ' | ' | ' | ' | ' | ' |
Note 5 - Acquisition of SynTec LLC (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | $9,700,000 | ' | ' | ' | ' | ' |
Note_5_Acquisition_of_SynTec_L3
Note 5 - Acquisition of SynTec LLC (Details) - Assets Acquired and Liabilities Assumed (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Feb. 04, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||||
Assets Acquired and Liabilities Assumed [Abstract] | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | $2,079 | ' |
Inventory | ' | ' | ' | 1,449 | ' |
Other current assets | ' | ' | ' | 26 | ' |
Property, plant and equipment | ' | ' | ' | 1,335 | ' |
Identifiable intangible assets | ' | ' | ' | 5,121 | ' |
Goodwill | 9,644 | 34,888 | 61,817 | 2,416 | 58,895 |
Accounts payable and accrued liabilities | ' | ' | ' | -2,769 | ' |
Net assets acquired | ' | ' | ' | $9,657 | ' |
Note_6_Net_Income_Loss_per_Sha1
Note 6 - Net Income (Loss) per Share (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 |
Note 6 - Net Income (Loss) per Share (Details) [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1.6 | 1.2 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1 | ' |
Exercise Price Lower Than Average Share Price [Member] | ' | ' |
Note 6 - Net Income (Loss) per Share (Details) [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1 | 0.4 |
Note_7_Inventory_Details_Inven
Note 7 - Inventory (Details) - Inventory (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory [Abstract] | ' | ' |
Raw materials | $35,162 | $31,563 |
Finished goods | 42,446 | 30,849 |
Supplies | 4,748 | 4,424 |
Obsolescence and slow moving allowance | -3,227 | -2,438 |
$79,129 | $64,398 |
Note_8_Property_Plant_and_Equi2
Note 8 - Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 8 - Property, Plant and Equipment (Details) [Line Items] | ' | ' | ' | ' |
Depreciation, Depletion and Amortization | ' | ' | $14,093 | $13,468 |
Property, Plant and Equipment [Member] | ' | ' | ' | ' |
Note 8 - Property, Plant and Equipment (Details) [Line Items] | ' | ' | ' | ' |
Depreciation, Depletion and Amortization | $3,800 | $3,300 | $10,600 | $9,800 |
Note_8_Property_Plant_and_Equi3
Note 8 - Property, Plant and Equipment (Details) - Property, plant and equipment (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Balance, gross | $177,137 | $161,384 |
Less – accumulated depreciation and amortization | -101,289 | -91,212 |
75,848 | 70,172 | |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Balance, gross | 5,698 | 4,832 |
Building and Building Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '- | ' |
Balance, gross | 34,765 | 29,515 |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '7 | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '30 | ' |
Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '- | ' |
Balance, gross | 127,086 | 117,852 |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '3 | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '10 | ' |
Computer Software, Intangible Asset [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '3 | ' |
Balance, gross | 8,766 | 8,400 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '- | ' |
Balance, gross | $822 | $785 |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '3 | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives years | '5 | ' |
Note_9_Intangible_Assets_Detai
Note 9 - Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Text Block [Abstract] | ' | ' | ' | ' |
Amortization of Intangible Assets | $401 | $295 | $1,155 | $893 |
Note_9_Intangible_Assets_Detai1
Note 9 - Intangible Assets (Details) - Intangible assets (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Balance, gross | $33,602 | $28,281 |
Less accumulated amortization | -28,081 | -26,732 |
Intangible assets, net | 5,521 | 1,549 |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '- | ' |
Balance, gross | 29,601 | 25,449 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '5 | ' |
Balance, gross | 1,082 | ' |
Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '- | ' |
Balance, gross | 2,556 | 2,469 |
Other Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '1 | ' |
Balance, gross | $363 | $363 |
Minimum [Member] | Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '5 | ' |
Minimum [Member] | Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '1 | ' |
Maximum [Member] | Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '20 | ' |
Maximum [Member] | Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful lives years | '10 | ' |
Note_10_Accrued_Liabilities_an2
Note 10 - Accrued Liabilities and Other (Details) - Accrued liabilities and other (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued liabilities and other [Abstract] | ' | ' |
Customer prepayments | $990 | $759 |
Accrued operating expenses | 4,790 | 5,951 |
Self-insurance reserves | 1,798 | 1,758 |
Compensation and benefits | 3,397 | 6,786 |
Accrued interest | 710 | 2,522 |
Taxes, other than income | 1,683 | 2,023 |
Income taxes payable | 96 | 1,691 |
Deferred income taxes | 767 | 1,156 |
Other accrued liabilities | 830 | 399 |
$15,061 | $23,045 |
Note_11_LongTerm_Debt_Details
Note 11 - Long-Term Debt (Details) | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Apr. 18, 2012 | Oct. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 18, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Aug. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 17, 2012 | 27-May-11 | Sep. 30, 2013 | 27-May-11 | Sep. 30, 2013 | 27-May-11 | 27-May-11 | 31-May-11 | 27-May-11 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 08, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | Subsequent Event [Member] | Subsequent Event [Member] | United States of America, Dollars | United States of America, Dollars | China, Yuan Renminbi | China, Yuan Renminbi | Amended Term Loan Commitment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Sixth Amendment [Member] | Equipment [Member] | Equipment [Member] | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | London Interbank Offered Rate (LIBOR) [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | First Lien Credit Facility [Member] | Second Lien Term Loan [Member] | Second Lien Term Loan [Member] | Second Lien Term Loan [Member] | Total Capital Leases [Member] | German Bank [Member] | German Bank [Member] | German Bank 2 [Member] | German Bank 2 [Member] | Egyptian Banks [Member] | Egyptian Banks [Member] | Thai Military Bank Public Company Limited [Member] | Thai Military Bank Public Company Limited [Member] | Supplemental First Lien Revolving Credit Agreement [Member] | Supplemental First Lien Revolving Credit Agreement [Member] | China Construction Bank [Member] | China Construction Bank [Member] | Maximum [Member] | Minimum [Member] | |||
Sixth Amendment [Member] | London Interbank Offered Rate (LIBOR) [Member] | China Construction Bank [Member] | China Construction Bank [Member] | China Construction Bank [Member] | First Lien Credit Facility [Member] | Applied Towards First Lien Credit Facility [Member] | Letters of Credit [Member] | Expected Unsecured Mezzanine Debt [Member] | USD ($) | USD ($) | Capital Lease - CapitalSource Bank [Member] | Capital Lease - CapitalSource Bank [Member] | Capital Lease - Commercial Financial Institutions [Member] | Capital Lease - Commercial Financial Institutions [Member] | Maximum [Member] | Minimum [Member] | Thai Military Bank Public Company Limited [Member] | Term Loan Commitments [Member] | Term Loan Commitments [Member] | Term Loan Commitments [Member] | Revolving Loan Commitments [Member] | Revolving Loan Commitments [Member] | USD ($) | USD ($) | Term Loan Commitments [Member] | USD ($) | USD ($) | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | Non-Dollar Denominated Credit Facilities [Member] | USD ($) | USD ($) | USD ($) | CNY | ||||||||||||
China Construction Bank [Member] | USD ($) | USD ($) | CNY | Term Loan Commitments [Member] | Expected Unsecured Mezzanine Debt [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Capital Lease - Commercial Financial Institutions [Member] | Capital Lease - Commercial Financial Institutions [Member] | Non-Dollar Denominated Credit Facilities [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EGP | USD ($) | THB | |||||||||||||||||||||||
USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Long-Term Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | $192,000,000 | ' | ' | ' | $7,000,000 | $7,500,000 | 46,000,000 | $157,000,000 | ' | $3,000,000 | ' | $21,500,000 | ' | ' | ' | $21,500,000 | $10,000,000 | ' | ' | $300,000 | ' | ' | ' | ' | $135,000,000 | $135,000,000 | ' | $35,000,000 | ' | $170,000,000 | $40,000,000 | ' | $40,000,000 | $6,000,000 | $8,100,000 | € 6,000,000 | ' | ' | $2,100,000 | 15,000,000 | $19,200,000 | 600,000,000 | $900,000 | $8,000,000 | $14,500,000 | 90,000,000 | ' | ' |
Line of Credit Facility, Covenant Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The First Lien Credit Facility contains various restrictive covenants that include, among other things, restrictions or limitations on the Company's ability to incur additional indebtedness or issue disqualified capital stock unless certain financial tests are satisfied; pay dividends, redeem subordinated debt or make other restricted payments; make certain loans, investments or acquisitions; issue stock of subsidiaries; grant or permit certain liens on assets; enter into certain transactions with affiliates; merge, consolidate or transfer substantially all of its assets; incur dividend or other payment restrictions affecting certain subsidiaries; transfer or sell assets including, but not limited to, capital stock of subsidiaries; and change the business the Company conducts. For the twelve months ended June 30, 2013 and December 31, 2012, the Company was subject to a Total Leverage Ratio (which is based on a trailing twelve months calculation) not to exceed 5.25:1.00 and 5.50:1.00, respectively, and an Interest Coverage Ratio of not less than 2.25:1.00 and 2.15:1.00, respectively. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Leverage Ratio | ' | '5.25 | '5.50 | ' | '5.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4.75 | '5.17 | '1.00 | '6.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6.50 | ' |
Interest Coverage Ratio | ' | '2.25 | '2.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2.00 |
Debt Instrument, Interest Rate, Increase (Decrease) (in Basis Points) | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in Loan Margin (in Basis Points) | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 11,951,000 | ' | ' | ' | ' | ' | ' | 3,500,000 | 3,000,000 | 18,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | 200,000 | ' | ' | ' | ' | 153,400,000 | ' | ' | 18,800,000 | ' | 172,200,000 | ' | ' | ' | ' | ' | 1,000,000 | 700,000 | 300,000 | 200,000 | 800,000 | 5,500,000 | 16,600,000 | 519,300,000 | 0 | ' | 6,500,000 | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.09% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.15% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan Margin (in Basis Points) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Increase (Decrease) | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in Loan Margin | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Facility Term Length | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | '4 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | '180 days | ' | ' | ' | ' | ' | ' |
Debt Instrument, Periodic Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.72% | 5.42% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | ' | ' |
Debt Instrument, Basis Spread on Variable Rate (in Basis Points) | ' | ' | ' | ' | ' | ' | 3.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.21% | 5.21% | ' | ' |
Credit Facilities, Bank Guarantees Outstanding (in Euro) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 1,900,000 | ' | ' | 600,000 | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facilities, Bank Guarantees Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 1,900,000 | ' | ' | 600,000 | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity (in Euro) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | 3,400,000 | ' | ' | 700,000 | 5,400,000 | 2,600,000 | 80,600,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,600,000 | € 3,400,000 | ' | ' | $700,000 | 5,400,000 | $2,600,000 | 80,600,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | 3.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_LongTerm_Debt_Details_
Note 11 - Long-Term Debt (Details) - Long-term debt (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt | $180,125 | $171,970 |
Less – current maturities | -172,452 | -3,147 |
Unamortized discount on first lien credit facility | -1,233 | -1,541 |
7,673 | 167,282 | |
First Lien Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 170,959 | 168,177 |
China Construction Bank [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 6,540 | ' |
Capital Lease - CapitalSource Bank [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 2,287 | 3,156 |
Other Capital Leases [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 168 | 230 |
Term Loan - German Bank [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | $171 | $407 |
Note_11_LongTerm_Debt_Details_1
Note 11 - Long-Term Debt (Details) - Reconciliation to Adjusted Balances Per First Lien Credit Facility (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Reconciliation to Adjusted Balances Per First Lien Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Consolidated net loss from continuing operations | ' | ' | ' | ' | ' | ($67,297) | ' |
Interest expense, net | -5,076 | ' | -3,199 | -12,525 | -12,836 | 16,487 | ' |
Income tax provision | 6,010 | ' | 756 | 5,747 | 3,483 | 2,620 | ' |
Depreciation and amortization expense | ' | ' | ' | ' | ' | 15,374 | ' |
Impairment of goodwill | 25,244 | 26,423 | ' | 51,667 | ' | 51,667 | ' |
Consolidated EBITDA | ' | ' | ' | ' | ' | 18,851 | ' |
Permitted covenant adjustments | ' | ' | ' | ' | ' | 14,978 | ' |
Consolidated EBITDA for covenant purposes | ' | ' | ' | ' | ' | 33,829 | ' |
Short-term debt | 18,372 | ' | ' | 18,372 | ' | 18,372 | 985 |
Current portion of long-term debt | 172,452 | ' | ' | 172,452 | ' | 172,452 | 3,147 |
Long-term debt | 7,673 | ' | ' | 7,673 | ' | 7,673 | 167,282 |
Debt discount | 1,233 | ' | ' | 1,233 | ' | 1,233 | 1,541 |
Outstanding letters of credit and performance Bonds | 11,951 | ' | ' | 11,951 | ' | 11,951 | ' |
Consolidated indebtedness for covenant purposes | 211,681 | ' | ' | 211,681 | ' | 211,681 | ' |
Consolidated interest expense | ' | ' | ' | ' | ' | 16,487 | ' |
Amortization of deferred financing costs | ' | ' | ' | ' | ' | -2,491 | ' |
Accretion of debt discount | ' | ' | ' | ' | ' | -406 | ' |
Consolidated interest expense for covenant purposes | ' | ' | ' | ' | ' | $13,590 | ' |
Note_11_LongTerm_Debt_Details_2
Note 11 - Long-Term Debt (Details) - Required and Actual Debt Covenant Ratios | 12 Months Ended | |||
Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Required [Member] | Scenario, Actual [Member] | |||
Note 11 - Long-Term Debt (Details) - Required and Actual Debt Covenant Ratios [Line Items] | ' | ' | ' | ' |
Total leverage ratio | '5.25 | '5.50 | '6.50 | '6.26 |
Interest coverage ratio | '2.25 | '2.15 | '2.00 | '2.49 |
Note_12_Fair_Value_of_Financia1
Note 12 - Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Fair Value Disclosures [Abstract] | ' |
Lines of Credit, Fair Value Disclosure | $155 |
Long-term Debt, Fair Value | $9.20 |
Note_13_StockBased_Compensatio1
Note 13 - Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,200,000 | 1,600,000 | 1,200,000 | 1,600,000 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | ' | ' | $0.67 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | ' | ' | $11.57 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $4.63 | ' | $4.63 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 25,000 | ' | 290,840 | 200,650 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | 191,872 | 57,300 |
Share-based Compensation (in Dollars) | ' | ' | $792 | $4,453 |
Stock Options Term | ' | ' | '10 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | '2 years 6 months | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | '3 years |
Restricted Stock [Member] | Minimum [Member] | ' | ' | ' | ' |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '1 year | ' |
Restricted Stock [Member] | Maximum [Member] | ' | ' | ' | ' |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '3 years | ' |
Stock Options and Restricted Stock [Member] | ' | ' | ' | ' |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation (in Dollars) | 400 | 100 | 800 | 4,500 |
Paid In Fully Vested Common Stock [Member] | ' | ' | ' | ' |
Note 13 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation (in Dollars) | ' | ' | ' | $4,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | ' | ' | ' | 478,467 |
Note_14_Income_Taxes_Details
Note 14 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $6,010,000 | $756,000 | $5,747,000 | $3,483,000 | $2,620,000 |
Effective Income Tax Rate Reconciliation, Percent | 20.20% | 12.30% | 8.70% | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | $6,600,000 | ' | ' | ' | ' |
Note_15_Commitments_and_Contin2
Note 15 - Commitments and Contingencies (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' |
Limited Warranty Term | '20 years |
Performance Bonds Outstanding | $6.60 |
Guarantor Obligations, Maximum Exposure, Undiscounted | $5.30 |
Note_15_Commitments_and_Contin3
Note 15 - Commitments and Contingencies (Details) - Warranty Obligations (USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||||||||
Note 15 - Commitments and Contingencies (Details) - Warranty Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at January 1, | $1,175 | $2,225 | ' | ' | ' | ' | ' | ' |
Provision / changes in estimates | ' | ' | -15 | 9 | -178 | -739 | 7 | 2 |
Payments | ' | ' | ' | -35 | ' | -42 | ' | -15 |
Balance | $1,175 | $2,225 | $1,160 | $2,199 | $982 | $1,418 | $989 | $1,405 |
Note_16_Related_Party_Transact1
Note 16 - Related Party Transaction (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' | ' | ' |
Related Party Transaction, Amounts of Transaction | ' | $2,000,000 | ' |
Related Party Transaction, Expenses from Transactions with Related Party | ' | 200,000 | ' |
IPO Management Agreement Termination Fee | 3,000,000 | 3,000,000 | ' |
Due to Related Parties | ' | ' | $0 |
Note_17_Segment_Information_De
Note 17 - Segment Information (Details) - Operations and assets of reportable segments (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | $117,976 | $121,200 | $321,311 | $355,285 |
Sales | 125,235 | 136,224 | 351,099 | 396,660 |
Gross profit | 13,695 | 21,050 | 40,161 | 59,649 |
Gross margin | 11.60% | 17.40% | 12.50% | 16.80% |
Intersubsegment Eliminations [Member] | N America [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Sales | 3,693 | 8,780 | 18,302 | 27,352 |
Intersubsegment Eliminations [Member] | Europe Africa [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Sales | ' | 35 | 97 | 35 |
Intersubsegment Eliminations [Member] | Asia Pacific [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Sales | 1,202 | 5,090 | 7,443 | 10,542 |
Intersubsegment Eliminations [Member] | Middle East [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Sales | 2,364 | 1,119 | 3,946 | 3,446 |
Intersubsegment Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Sales | 7,259 | 15,024 | 29,788 | 41,375 |
N America [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | 48,907 | 48,229 | 136,555 | 144,562 |
Sales | 52,600 | 57,009 | 154,857 | 171,914 |
Gross profit | 6,384 | 11,972 | 23,629 | 34,034 |
Gross margin | 13.10% | 24.80% | 17.30% | 23.50% |
Europe Africa [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | 35,638 | 41,207 | 86,824 | 108,225 |
Sales | 35,638 | 41,242 | 86,921 | 108,260 |
Gross profit | 4,275 | 4,104 | 5,350 | 10,402 |
Gross margin | 12.00% | 10.00% | 6.20% | 9.60% |
Asia Pacific [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | 21,548 | 24,331 | 60,137 | 66,975 |
Sales | 22,750 | 29,421 | 67,580 | 77,517 |
Gross profit | 2,073 | 4,426 | 7,205 | 11,599 |
Gross margin | 9.60% | 18.20% | 12.00% | 17.30% |
Latin America [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | 9,696 | 6,173 | 28,678 | 29,846 |
Sales | 9,696 | 6,173 | 28,678 | 29,846 |
Gross profit | 790 | 617 | 2,994 | 3,214 |
Gross margin | 8.10% | 10.00% | 10.40% | 10.80% |
Middle East [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales to external customers | 2,187 | 1,260 | 9,117 | 5,677 |
Sales | 4,551 | 2,379 | 13,063 | 9,123 |
Gross profit | $173 | ($69) | $983 | $400 |
Gross margin | 7.90% | -5.50% | 10.80% | 7.00% |
Note_17_Segment_Information_De1
Note 17 - Segment Information (Details) - Net Sales (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Net sales | $117,976 | $121,200 | $321,311 | $355,285 |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Net sales | 125,235 | 136,224 | 351,099 | 396,660 |
Intersegment Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' |
Net sales | ($7,259) | ($15,024) | ($29,788) | ($41,375) |
Note_17_Segment_Information_De2
Note 17 - Segment Information (Details) - Assets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | $296,539 | $336,098 |
Operating Segments [Member] | North America [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | 160,808 | 229,272 |
Operating Segments [Member] | Europe Africa [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | 56,445 | 62,154 |
Operating Segments [Member] | Asia Pacific [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | 81,353 | 66,283 |
Operating Segments [Member] | Latin America [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | 24,375 | 38,774 |
Operating Segments [Member] | Middle East [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | 19,599 | 16,715 |
Operating Segments [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Assets | $342,580 | $413,188 |
Note_17_Segment_Information_De3
Note 17 - Segment Information (Details) - Reconciliation to Consolidated Assets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | $296,539 | $336,098 |
Operating Segments [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 342,580 | 413,188 |
Intersegment Eliminations [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | ($46,041) | ($77,090) |