Orchids Paper Products Inactive 10-Q1 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	Apr. 25, 2014
Document and Entity Information	'	'
Entity Registrant Name	'Orchids Paper Products CO /DE	'
Entity Central Index Key	'0001324189	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	8,072,559
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Cash	$7,224	$7,205
Accounts receivable, net of allowance of $136 in 2014 and $135 in 2013	5,620	6,585
Inventories, net	12,836	10,921
Short-term investments	5,037	5,035
Prepaid expenses	751	863
Other current assets	'	146
Deferred income taxes	544	552
Total current assets	32,012	31,307
Property, plant and equipment	139,454	137,750
Accumulated depreciation	-44,149	-42,005
Net property, plant and equipment	95,305	95,745
Deferred debt issuance costs, net of accumulated amortization of $19 in 2014 and $18 in 2013	39	40
Total assets	127,356	127,092
Current liabilities:	'	'
Accounts payable	3,626	3,685
Accrued liabilities	4,806	4,030
Current portion of long-term debt	1,152	1,152
Total current liabilities	9,584	8,867
Long-term debt, less current portion	13,639	13,927
Deferred income taxes	19,202	19,449
Stockholders' equity:	'	'
Common stock, $.001 par value, 25,000,000 shares authorized, 8,072,559 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	8	8
Additional paid-in capital	46,562	46,298
Retained earnings	38,361	38,543
Total stockholders' equity	84,931	84,849
Total liabilities and stockholders' equity	$127,356	$127,092

BALANCE_SHEETS_Parenthetical

BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
BALANCE SHEETS	'	'
Accounts receivable, allowance (in dollars)	$136	$135
Deferred debt issuance costs, accumulated amortization (in dollars)	$19	$18
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,072,559	8,066,809
Common stock, shares outstanding	8,072,559	8,066,809

STATEMENTS_OF_INCOME

STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
STATEMENTS OF INCOME	'	'
Net sales	$27,759	$26,609
Cost of sales	21,741	20,082
Gross profit	6,018	6,527
Selling, general and administrative expenses	2,179	2,273
Operating income	3,839	4,254
Interest expense	13	93
Other (income) expense, net	1	-5
Income before income taxes	3,825	4,166
Provision for income taxes:	'	'
Current	1,421	1,005
Deferred	-239	68
Total provision for income taxes	1,182	1,073
Net income	$2,643	$3,093
Net income per common share:	'	'
Basic (in dollars per share)	$0.33	$0.40
Diluted (in dollars per share)	$0.32	$0.39
Shares used in calculating net income per common share:	'	'
Basic (in shares)	8,063,322	7,674,350
Diluted (in shares)	8,153,007	7,894,785
Dividends per share (in dollars per share)	$0.35	$0.30

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Flows From Operating Activities	'	'
Net income	$2,643	$3,093
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	2,211	1,895
Provision for doubtful accounts	1	-12
Deferred income taxes	-239	68
Stock compensation expense	165	69
Loss on disposal of property, plant and equipment	8	'
Changes in cash due to changes in operating assets and liabilities:	'	'
Accounts receivable	964	-1,025
Inventories	-1,915	-597
Income taxes receivable	'	-222
Prepaid expenses	112	107
Other current assets	146	'
Accounts payable	-59	-335
Accrued liabilities	776	1,177
Net cash provided by operating activities	4,813	4,218
Cash Flows From Investing Activities	'	'
Purchases of property, plant and equipment	-1,778	-2,726
Purchases of short-term investments	-2	-2
Net cash used in investing activities	-1,780	-2,728
Cash Flows From Financing Activities	'	'
Principal payments on long-term debt	-288	-288
Dividends paid to stockholders	-2,825	-2,337
Proceeds from the exercise of stock options	79	799
Excess tax benefit of stock options exercised	20	135
Net cash used in financing activities	-3,014	-1,691
Net increase (decrease) in cash	19	-201
Cash, beginning	7,205	5,734
Cash, ending	7,224	5,533
Supplemental Disclosure:	'	'
Interest paid	87	93
Income taxes paid	300	'
Tax benefits realized from stock options exercised	$16	$40

Basis_of_Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2014
Basis of Presentation	'
Basis of Presentation	'
	Note 1 — Basis of Presentation

	Orchids Paper Products Company (“Orchids” or the “Company”) was formed in 1998 to acquire and operate the paper manufacturing facility, built in 1976, in Pryor, Oklahoma. Orchids Acquisition Group, Inc. (“Orchids Acquisition”) was established in November 2003, for the purpose of acquiring the common stock of Orchids. The sale of equity and debt securities closed in March 2004 and Orchids Acquisition Group, Inc. acquired Orchids for a price of $21.6 million. Orchids Acquisition was subsequently merged into Orchids. In July 2005, the Company completed its initial public offering of its common stock. The Company’s stock trades on the NYSE MKT under the ticker symbol “TIS.”

	The accompanying financial statements have been prepared without an audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States have been condensed or omitted pursuant to the rules and regulations. However, the Company believes that the disclosures made are adequate to make the information presented not misleading when read in conjunction with the audited financial statements and the notes in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, filed with the SEC on March 6, 2014. Management believes that the financial statements contain all adjustments necessary for a fair presentation of the results for the interim periods presented. All adjustments were of a normal, recurring nature. The results of operations for the interim period are not necessarily indicative of the results for the entire fiscal year.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	Note 2 — Fair Value Measurements

	The Company does not report any assets or liabilities at fair value in the financial statements. However, the estimated fair value of the Company’s short-term investments, which consist of commercial deposits in money market funds, was $5,037,000 and $5,035,000 at March 31, 2014 and December 31, 2013, respectively. These short-term investments are considered Level 1 measurements in the fair value valuation hierarchy. The fair value of the Company’s long-term debt is estimated by management to approximate the carrying value of $14,791,000 and $15,079,000 at March 31, 2014 and December 31, 2013, respectively. Management’s estimates are based on periodic comparisons of the characteristics of the Company’s obligations, including floating interest rates, credit rating, maturity and collateral, to current market conditions as stated by an independent third-party financial institution. Such valuation inputs are considered a Level 2 measurement in the fair value valuation hierarchy.

	There were no transfers among Level 1, Level 2 or Level 3 assets or liabilities during the first three months in 2014 or 2013.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	Note 3 — Commitments and Contingencies

	The Company may be involved from time to time in litigation arising from the normal course of business. In management’s opinion, as of the date of this report, the Company is not engaged in legal proceedings which individually or in the aggregate are expected to have a materially adverse effect on the Company’s results of operations or financial condition.

	In October 2008, the Company entered into a contract to purchase 334,000 MMBTU per year of natural gas. This contract has been extended through December 2016 and provides for approximately 60% to 70% of the Company’s natural gas requirements through December 31, 2016 as follows:

	Period	MMBTUs	Price per		Management
			MMBTU		fee per
					MMBTU
	April 2012 - March 2013	334,207	$	5.5	$	0.07
	April 2013 - December 2014	556,886	$	4.905	$	0.07
	April 2013 - September 2013	additional 5,000/month	$	4.7	$	0.07
	October 2013 - March 2014	additional 5,000/month	$	4.75	$	0.07
	April 2014 - December 2014	additional 5,000/month	$	4.7	$	0.07
	January 2015 - March 2015	95,900	$	4.5	$	0.07
	April 2015 - June 2015	93,600	$	4.3	$	0.07
	July 2015 - September 2015	92,300	$	4.35	$	0.07
	October 2015 - December 2015	91,900	$	4.5	$	0.07
	January 2016 - March 2016	95,900	$	4.53	$	0.07
	April 2016 - June 2016	93,600	$	4.17	$	0.07
	July 2016 - September 2016	92,300	$	4.26	$	0.07
	October 2016 - December 2016	91,900	$	4.42	$	0.07

	Purchases under the gas contract were $0.5 million for each of the three months ended March 31, 2014 and 2013. If the Company is unable to purchase the contracted amounts and the market price at that time is less than the contracted price, the Company would be obligated under the terms of the agreement to reimburse an amount equal to the difference between the contracted amount and the amount actually purchased, multiplied by the difference between the contract price and current spot price.

	In November 2013, we announced two projects to upgrade our paper making and converting assets: a project to replace two existing paper machines with a new paper machine in our paper mill, and a project to upgrade an existing converting line. As part of these projects, we entered into purchase orders to: (i) purchase a tissue machine, (ii) purchase a converting rewinder and (iii) for construction services for the new paper machine. As of March 31, 2014, our obligations under these purchase orders total $12.0 million. The purchase order to purchase a tissue machine is denominated in Euros. The amounts included herein were translated to US dollars using the spot exchange rate as of March 31, 2014.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2014
Inventories	'
Inventories	'
	Note 4 — Inventories

	Inventories at March 31, 2014 and December 31, 2013 were as follows:

		March 31,			December 31,
		2014			2013
		(in thousands)
	Raw materials	$	3,520		$	3,587
	Bulk paper rolls	1,498			2,125
	Converted finished goods	7,954			5,314
	Inventory valuation reserve	(136		)	(105		)
		$	12,836		$	10,921

Income_Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2014
Income Taxes	'
Income Taxes	'
	Note 5 — Income Taxes

	As of March 31, 2014, our annual estimated effective income tax rate is 31.1%. The actual effective tax rate for the quarter ended March 31, 2014 was 30.9%. The annual estimated effective tax rate for 2014 differs from the statutory rate due primarily to manufacturing tax credits. For the quarter ended March 31, 2013, our actual effective income tax rate was 25.8%. The annual estimated effective tax rate for 2013 is lower than the statutory rate due primarily to manufacturing tax credits and Indian employment tax credits (“IECs”). Recognition of the IEC for 2012 was deferred until the first quarter of 2013 as the American Taxpayer Relief Act of 2012, which extended the IEC, was not signed into law by the President of the United States until 2013.

Earnings_per_Share

Earnings per Share	3 Months Ended
Earnings per Share	Mar. 31, 2014
Earnings per Share	'
Earnings per Share	'
	Note 6 — Earnings per Share

	During the first quarter of 2013, the Company granted restricted stock to certain employees. These awards include a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Therefore, the Company calculates basic and diluted earnings per common share using the two-class method, under which net earnings are allocated to each class of common stock and participating security. The computation of basic and diluted net income per common share for the three-month periods ended March 31, 2014 and 2013 is as follows:

		Three Months Ended March 31,
		2014			2013
	Net income - ($ thousands)	$	2,643		$	3,093
	Less: distributed earnings allocable to participating securities	(2		)	(5		)
	Less: undistributed earnings allocable to participating securities	—			(1		)
	Distributed and undistributed earnings allocable to common shareholders	$	2,641		$	3,087

	Weighted average shares outstanding	8,063,322			7,674,350
	Effect of stock options	89,685			220,435
	Weighted average shares outstanding - assuming dilution	8,153,007			7,894,785
	Net income per common share:
	Basic	$	0.33		$	0.4
	Diluted	$	0.32		$	0.39

	Stock options not considered above because they were anti-dilutive	—			—

Stock_Incentive_Plan

Stock Incentive Plan	3 Months Ended
Stock Incentive Plan	Mar. 31, 2014
Stock Incentive Plan	'
Stock Incentive Plan	'
	Note 7 — Stock Incentive Plan

	In April 2005, the board of directors and the stockholders approved the 2005 Stock Incentive Plan (the “Plan”). The Plan provides for the granting of stock options and other stock based awards to employees and board members selected by the board’s compensation committee. A total of 1,097,500 shares may be issued pursuant to the Plan. As of March 31, 2014, there were 21,416 shares available for issuance under the Plan.

	Stock Options with Time-Based Vesting Conditions

	The grant date fair value of the following option grants was estimated using the Black-Scholes option valuation model. Option valuation models require the input of highly subjective assumptions including the expected stock price volatility. The following table details the options granted to certain members of the board of directors and management that were valued using the Black-Scholes valuation model and the assumptions used in the valuation model for those grants during the three months ended March 31, 2014 and 2013:

	Grant		Number		Exercise		Grant Date		Risk-Free		Estimated		Dividend		Expected
	Date		of Shares		Price		Fair Value		Interest Rate		Volatility		Yield		Life
	13-Feb		3,750		$	21.695	$	5.68	2.02	%	43	%	4.61	%	5 years


	The Company expenses the cost of these options granted over the vesting period of the option based on the grant-date fair value of the award.

	Stock Options with Market-Based Vesting Conditions

	During the first quarter of 2014, the Board of Directors granted options to purchase 140,000 shares of the Company’s common stock to certain members of management. These options will become exercisable in four equal tranches, if at all, if and when the share price of the common stock closes at a certain percentage of the purchase price of the option for three consecutive business days, in accordance with the following vesting schedule:

	Share price closes at or above		Share price closes at or above the		Share price
	the following percentage of the		following percentage of the		equivalent
	purchase price for the Option		purchase price for the Option
	(January 31, 2014 grant)		(February 4, 2014 grant)
	111.8	%	112.7	%	$	34.788
	136.1	%	137.1	%	$	42.35
	165.2	%	166.5	%	$	51.425
	194.4	%	195.9	%	$	60.5

	Any unvested portion of the options shall expire five years from the date of grant and the options shall terminate ten years after the date of grant. As these options include a market condition, the grant date fair value and implicit service period of these option grants were estimated using a Monte Carlo option valuation model. The following table details the options granted to certain members of management that were valued using the Monte Carlo valuation model and the assumptions used in the valuation model for those grants during the three months ended March 31, 2014 and 2013:

	Grant		Number		Exercise		Grant Date		Risk-Free		Estimated		Dividend		Expected	Derived Service
	Date		of Shares		Price		Fair Value		Interest Rate		Volatility		Yield		Life (years)	Period (years)
	February 14 - Tranche 1		25,000		$	30.88	$	5.51	1.98	%	31	%	4.6	%	5.17	0.35
	February 14 - Tranche 2		25,000		$	30.88	$	5.35	1.98	%	31	%	4.6	%	5.6	1.19
	February 14 - Tranche 3		25,000		$	30.88	$	4.88	1.98	%	31	%	4.6	%	5.99	1.98
	February 14 - Tranche 4		25,000		$	30.88	$	4.15	1.98	%	31	%	4.6	%	6.27	2.54
	January 14 - Tranche 1		10,000		$	31.125	$	5.64	1.98	%	31	%	4.5	%	5.15	0.31
	January 14 - Tranche 2		10,000		$	31.125	$	5.46	1.98	%	31	%	4.5	%	5.58	1.15
	January 14 - Tranche 3		10,000		$	31.125	$	5.03	1.98	%	31	%	4.5	%	5.97	1.94
	January 14 - Tranche 4		10,000		$	31.125	$	4.27	1.98	%	31	%	4.5	%	6.25	2.5

	The Company expenses the cost of these options granted over the implicit, or derived, service period of the option based on the grant-date fair value of the award.

	The Company recognized expense of $151,000 and $49,000 for the three months ended March 31, 2014 and 2013, respectively, related to options granted under the Plan. The expense for 2014 was comprised almost entirely of expense related to market-based options. Based on the derived service periods of the options, the Company expects to recognize expense of $474,000, $187,000 and $40,000 related to these options in 2014, 2015 and 2016, respectively. However, if the market condition is achieved for any tranche of these options prior to the end of the derived service period, all remaining expense related to that tranche would be recognized in the period in which the market condition is achieved.

	Restricted Stock

	During the three months ended March 31, 2013, the Company granted 16,000 shares of restricted stock to certain employees under the Plan. These awards were valued at the arithmetic mean of the high and low market price of the Company’s stock on the grant date, which was $21.695 per share, and vest ratably over a three year period beginning on the first anniversary of the grant date. During 2013, 8,000 of these shares were forfeited. Accordingly, the first third of the remaining shares, or 2,666 shares, vested in February 2014. The Company expenses the cost of restricted stock granted over the vesting period of the shares based on the grant-date fair value of the award. The Company recognized expense of $14,000 and $19,000 for the three month periods ended March 31, 2014 and 2013, respectively, related to the shares granted under the Plan.

Major_Customers_and_Concentrat

Major Customers and Concentration of Credit Risk	3 Months Ended
Major Customers and Concentration of Credit Risk	Mar. 31, 2014
Major Customers and Concentration of Credit Risk	'
Major Customers and Concentration of Credit Risk	'
	Note 8 — Major Customers and Concentration of Credit Risk

	The Company sells its paper production in the form of parent rolls and converted products. Revenues from converted product sales and parent roll sales in the three months ended March 31, 2014 and 2013 were:

		Three Months Ended March 31,
		2014			2013
		(in thousands)

	Converted product net sales	$	26,154		$	24,608
	Parent roll net sales	1,605			2,001
	Net sales	$	27,759		$	26,609

	Credit risk for the Company in the three months ended March 31, 2014 and 2013 was concentrated in the following customers who each comprised more than 10% of the Company’s total net sales:

		Three Months Ended March 31,
		2014		2013

	Converted product customer 1	51	%	52	%
	Converted product customer 2	*		10	%
	Converted product customer 3	11	%	*
	Converted product customer 4	10	%	*
	Total percent of net sales	72	%	62	%


	* Customer did not account for more than 10% of sales during the period indicated

	At March 31, 2014 and December 31, 2013 the four significant customers accounted for the following amounts of the Company’s accounts receivable (in thousands):

		March 31,					December 31,
		2014					2013

	Converted product customer 1	$	2,070		37	%	$	2,678	41	%
	Converted product customer 2	*			*		$	1,012	15	%
	Converted product customer 3	712			13	%	*		*
	Converted product customer 4	$	383		7	%	*		*
	Total of accounts receivable	$	3,165		57	%	$	3,690	56	%


	* Customer did not account for more than 10% of sales during the period indicated

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
New Accounting Pronouncements	Mar. 31, 2014
New Accounting Pronouncements	'
New Accounting Pronouncements	'
	Note 9 — New Accounting Pronouncements

	The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. We have reviewed the recently issued pronouncements and concluded that there are no recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on the Company’s financial position, results of operations or cash flows.

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events	'
Subsequent Events	'
	Note 10 — Subsequent Events

	Schoen Option

	On April 9, 2014, the Company held a Special Meeting of Shareholders (the “Special Meeting”), at which the Company’s shareholders voted to approve the option agreement granted to Mr. Jeffrey S. Schoen, the Company’s President and Chief Executive Officer, on November 8, 2013. Under this agreement, Mr. Schoen was granted an option to purchase up to 400,000 shares of the common stock of the Company at a purchase price of $30.25 per share. The option will become exercisable, if at all, if and when the share price of the Company’s common stock closes at a certain percentage of the purchase price of the option for three consecutive business days, in accordance with the following vesting schedule:

	Share price closes at or above the following	Number of shares that become vested
	percentage of the purchase price for the Option	Number of shares that become vested
	115% (share price $34.788)	100,000
	140% (share price $42.35)	100,000
	170% (share price $51.425)	100,000
	200% (share price $60.50)	100,000

	These options were granted outside of the Stock Incentive Plan. Any unvested portion of the option shall expire five years from the date of grant and the option shall terminate ten years after the date of grant. The Company used a Monte Carlo option valuation model to estimate the grant date fair value of each tranche of 100,000 options, as they include a market condition. The Company will expense the cost of the options granted over the implicit service period of the options based on the completed Monte Carlo models. Based on the derived service periods of the options, the Company expects to recognize expense of $1.1 million, $557,000 and $159,000 related to these options in 2014, 2015 and 2016, respectively.

	Future Expected Stock Option Expense

	The grant of the Schoen option, along with the grant of the options that vest based on a market condition in the first quarter of 2014 as described above in Note 7, will have a material impact on the Company’s results of operations. The Company expects to expense the compensation cost associated with these options based on the following schedule:

		2014								2014		2015		2016
		Q1		Q2		Q3		Q4		Total		Total		Total
		(in thousands)
	Tranche 1	$	96	$	422	$	194	$	—	$	712	$	—	$	—
	Tranche 2	$	26	$	141	$	141	$	141	449		$	243	$	—
	Tranche 3	$	15	$	76	$	76	$	75	242		$	303	$	58
	Tranche 4	$	10	$	49	$	49	$	50	158		$	198	$	140
	Total expense	$	147	$	688	$	460	$	266	$	1,561	$	744	$	198

	However, if the market condition is achieved for any tranche of these options prior to the end of the derived service period, all remaining expense related to that tranche would be recognized in the period in which the market condition is achieved.

	2014 Stock Incentive Plan

	Additionally, the Company’s stockholders voted to approve the 2014 Stock Incentive Plan (“the 2014 Plan”) at the Special Meeting. As of the adoption and approval of the 2014 Stock Incentive Plan, no further grants can be made under the 2005 Plan and the remaining 21,416 shares available under the 2005 Plan will be rolled into and allocated to the 2014 Plan to satisfy all future equity awards which will be granted under the 2014 Plan. The 2014 Plan allocated an aggregate of 400,000 shares of common stock for issuance under the Plan, which includes the 21,416 shares rolled over from the 2005 Plan. Equity awards granted under the 2005 Plan will continue in full force and effect under the terms of the 2005 Plan and are not changed or modified.

	Amendment to Credit Agreement

	On April 16, 2014, the Company and JPMorgan Chase Bank entered into the First Amendment to the Credit Agreement dated April 25, 2011. This amendment had the following impacts on the Credit Agreement (the “Agreement”):

	· The revolving credit line, which was set to expire on April 24, 2014, was extended to April 24, 2016,
	· The amount of borrowing capacity under the revolving credit line was reduced from $18 million to $15 million,
	· The fixed charge coverage ratio was modified to exclude up to $31 million of capital expenditures incurred in connection with the acquisition of the new paper mill and the upgrade of an existing converting line, as previously announced in November 2013,
	· The maximum capital expenditures covenant was removed, and
	· The letter of credit sub-facility was removed so that no letters of credit shall be issued under the Agreement.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2014
Commitments and Contingencies	'
Schedule of purchase contracts of natural gas	'


	Period	MMBTUs	Price per		Management
			MMBTU		fee per
					MMBTU
	April 2012 - March 2013	334,207	$	5.5	$	0.07
	April 2013 - December 2014	556,886	$	4.905	$	0.07
	April 2013 - September 2013	additional 5,000/month	$	4.7	$	0.07
	October 2013 - March 2014	additional 5,000/month	$	4.75	$	0.07
	April 2014 - December 2014	additional 5,000/month	$	4.7	$	0.07
	January 2015 - March 2015	95,900	$	4.5	$	0.07
	April 2015 - June 2015	93,600	$	4.3	$	0.07
	July 2015 - September 2015	92,300	$	4.35	$	0.07
	October 2015 - December 2015	91,900	$	4.5	$	0.07
	January 2016 - March 2016	95,900	$	4.53	$	0.07
	April 2016 - June 2016	93,600	$	4.17	$	0.07
	July 2016 - September 2016	92,300	$	4.26	$	0.07
	October 2016 - December 2016	91,900	$	4.42	$	0.07

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories	'
Schedule of inventories	'


		March 31,			December 31,
		2014			2013
		(in thousands)
	Raw materials	$	3,520		$	3,587
	Bulk paper rolls	1,498			2,125
	Converted finished goods	7,954			5,314
	Inventory valuation reserve	(136		)	(105		)
		$	12,836		$	10,921

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Mar. 31, 2014
Earnings per Share	'
Schedule of computation of basic and diluted net income per common share	'


		Three Months Ended March 31,
		2014			2013
	Net income - ($ thousands)	$	2,643		$	3,093
	Less: distributed earnings allocable to participating securities	(2		)	(5		)
	Less: undistributed earnings allocable to participating securities	—			(1		)
	Distributed and undistributed earnings allocable to common shareholders	$	2,641		$	3,087

	Weighted average shares outstanding	8,063,322			7,674,350
	Effect of stock options	89,685			220,435
	Weighted average shares outstanding - assuming dilution	8,153,007			7,894,785
	Net income per common share:
	Basic	$	0.33		$	0.4
	Diluted	$	0.32		$	0.39

	Stock options not considered above because they were anti-dilutive	—			—

Stock_Incentive_Plan_Tables

Stock Incentive Plan (Tables)	3 Months Ended
Stock Incentive Plan (Tables)	Mar. 31, 2014
Time-Based Vesting Conditions	'
Stock Incentive Plan	'
Schedule of details of options granted to certain members of the board of directors and management	'


	Grant		Number		Exercise		Grant Date		Risk-Free		Estimated		Dividend		Expected
	Date		of Shares		Price		Fair Value		Interest Rate		Volatility		Yield		Life
	13-Feb		3,750		$	21.695	$	5.68	2.02	%	43	%	4.61	%	5 years

Market-Based Vesting Conditions	'
Stock Incentive Plan	'
Schedule of details of options granted to certain members of the board of directors and management	'


	Grant		Number		Exercise		Grant Date		Risk-Free		Estimated		Dividend		Expected	Derived Service
	Date		of Shares		Price		Fair Value		Interest Rate		Volatility		Yield		Life (years)	Period (years)
	February 14 - Tranche 1		25,000		$	30.88	$	5.51	1.98	%	31	%	4.6	%	5.17	0.35
	February 14 - Tranche 2		25,000		$	30.88	$	5.35	1.98	%	31	%	4.6	%	5.6	1.19
	February 14 - Tranche 3		25,000		$	30.88	$	4.88	1.98	%	31	%	4.6	%	5.99	1.98
	February 14 - Tranche 4		25,000		$	30.88	$	4.15	1.98	%	31	%	4.6	%	6.27	2.54
	January 14 - Tranche 1		10,000		$	31.125	$	5.64	1.98	%	31	%	4.5	%	5.15	0.31
	January 14 - Tranche 2		10,000		$	31.125	$	5.46	1.98	%	31	%	4.5	%	5.58	1.15
	January 14 - Tranche 3		10,000		$	31.125	$	5.03	1.98	%	31	%	4.5	%	5.97	1.94
	January 14 - Tranche 4		10,000		$	31.125	$	4.27	1.98	%	31	%	4.5	%	6.25	2.5
Schedule of market-based vesting conditions	'


	Share price closes at or above		Share price closes at or above the		Share price
	the following percentage of the		following percentage of the		equivalent
	purchase price for the Option		purchase price for the Option
	(January 31, 2014 grant)		(February 4, 2014 grant)
	111.8	%	112.7	%	$	34.788
	136.1	%	137.1	%	$	42.35
	165.2	%	166.5	%	$	51.425
	194.4	%	195.9	%	$	60.5

Major_Customers_and_Concentrat1

Major Customers and Concentration of Credit Risk (Tables)	3 Months Ended
Major Customers and Concentration of Credit Risk (Tables)	Mar. 31, 2014
Major Customers and Concentration of Credit Risk	'
Schedule of revenues from converted product sales and parent roll sales	'


		Three Months Ended March 31,
		2014			2013
		(in thousands)

	Converted product net sales	$	26,154		$	24,608
	Parent roll net sales	1,605			2,001
	Net sales	$	27,759		$	26,609
Net sales \| Customer concentration risk	'
Major Customers and Concentration of Credit Risk	'
Schedule of concentration risk	'


		Three Months Ended March 31,
		2014		2013

	Converted product customer 1	51	%	52	%
	Converted product customer 2	*		10	%
	Converted product customer 3	11	%	*
	Converted product customer 4	10	%	*
	Total percent of net sales	72	%	62	%


	* Customer did not account for more than 10% of sales during the period indicated
Accounts receivable \| Credit risk	'
Major Customers and Concentration of Credit Risk	'
Schedule of concentration risk	'
	At March 31, 2014 and December 31, 2013 the four significant customers accounted for the following amounts of the Company’s accounts receivable (in thousands):

		March 31,					December 31,
		2014					2013

	Converted product customer 1	$	2,070		37	%	$	2,678	41	%
	Converted product customer 2	*			*		$	1,012	15	%
	Converted product customer 3	712			13	%	*		*
	Converted product customer 4	$	383		7	%	*		*
	Total of accounts receivable	$	3,165		57	%	$	3,690	56	%


	* Customer did not account for more than 10% of sales during the period indicated

Subsequent_Events_Tables

Subsequent Events (Tables)	3 Months Ended
Subsequent Events (Tables)	Mar. 31, 2014
Subsequent Events	'
Schedule of vesting of exercisable options granted to Mr. Schoen	'


	Share price closes at or above the following	Number of shares that become vested
	percentage of the purchase price for the Option	Number of shares that become vested
	115% (share price $34.788)	100,000
	140% (share price $42.35)	100,000
	170% (share price $51.425)	100,000
	200% (share price $60.50)	100,000
Schedule of compensation cost expected to be expensed	'


		2014								2014		2015		2016
		Q1		Q2		Q3		Q4		Total		Total		Total
		(in thousands)
	Tranche 1	$	96	$	422	$	194	$	—	$	712	$	—	$	—
	Tranche 2	$	26	$	141	$	141	$	141	449		$	243	$	—
	Tranche 3	$	15	$	76	$	76	$	75	242		$	303	$	58
	Tranche 4	$	10	$	49	$	49	$	50	158		$	198	$	140
	Total expense	$	147	$	688	$	460	$	266	$	1,561	$	744	$	198

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	1 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2004
Basis of Presentation	'
Price paid for acquisition of reporting entity by Orchids Acquisition Group, Inc.	$21.60

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Assets	'	'	'
Short-term investments	$5,037,000	$5,035,000	'
Liabilities	'	'	'
Level 1 to Level 2 asset transfer amounts	0	'	0
Level 1 to Level 2 liability transfer amounts	0	'	0
Level 2 to Level 1 asset transfer amounts	0	'	0
Level 2 to Level 1 liability transfer amounts	0	'	0
Level 2 to Level 3 asset or liability transfer amounts	0	'	0
Level 3 to Level 2 asset or liability transfer amounts	0	'	0
Level 1 \| Commercial Deposit	'	'	'
Assets	'	'	'
Short-term investments	5,037,000	5,035,000	'
Level 2	'	'	'
Liabilities	'	'	'
Fair value of long-term debt	$14,791,000	$15,079,000	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)

1 Months Ended

3 Months Ended

1 Months Ended

In Millions, unless otherwise specified

Oct. 31, 2008

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Nov. 30, 2013

Natural gas

Capital additions

MMBTU

April 2012 - March 2013

April 2013 - December 2014

April 2013 - September 2013

October 2013 - March 2014

April 2014 - December 2014

January 2015 - March 2015

April 2015 - June 2015

July 2015 - September 2015

October 2015 - December 2015

January 2016 - March 2016

April 2016 - June 2016

July 2016 - September 2016

October 2016 - December 2016

Minimum

Maximum

item

Tissue machine, converting rewinder and construction services for new paper machine

MMBTU

project

Commitments and Contingencies

Quantity of natural gas per year (in MMBTUs)

334,000

Quantity of natural gas requirements (in MMBTUs)

334,207

556,886

95,900

93,600

92,300

91,900

95,900

93,600

92,300

91,900

Additional MMBTUs per month

5,000

Price per MMBTU

5.5

4.905

4.7

4.75

4.7

4.5

4.3

4.35

4.5

4.53

4.17

4.26

4.42

Management fee per MMBTU

0.07

Amount under the contract as a percent of the entity's requirements

60.00%

70.00%

Purchases under the gas contract

$0.50

Number of projects to upgrade paper making and converting assets

Number of existing paper machines to be replaced

Amount of obligations under purchase order

$12

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Inventories	'	'
Raw materials	$3,520	$3,587
Bulk paper rolls	1,498	2,125
Converted finished goods	7,954	5,314
Inventory valuation reserve	-136	-105
Total	$12,836	$10,921

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2014	Mar. 31, 2013
Income Taxes	'	'
Estimated annual effective income tax rate (as a percent)	31.10%	'
Actual effective income tax rate (as a percent)	30.90%	25.80%

Earnings_per_Share_Details

Earnings per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings per Share	'	'
Net income	$2,643	$3,093
Less: distributed earnings allocable to participating securities	-2	-5
Less: undistributed earnings allocable to participating securities	'	-1
Distributed and undistributed earnings allocable to common shareholders	$2,641	$3,087
Weighted average shares outstanding	8,063,322	7,674,350
Effect of stock options (in shares)	89,685	220,435
Weighted average common shares outstanding - assuming dilution	8,153,007	7,894,785
Net income per share, basic (in dollars per share)	$0.33	$0.40
Net income per share, diluted (in dollars per share)	$0.32	$0.39
Stock options not considered above because they were anti-dilutive (in shares)	0	0

Stock_Incentive_Plan_Details

Stock Incentive Plan (Details) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Feb. 28, 2013

Mar. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Feb. 14, 2014

Jan. 14, 2014

Feb. 14, 2014

Jan. 14, 2014

Feb. 14, 2014

Jan. 14, 2014

Feb. 14, 2014

Jan. 14, 2014

Feb. 04, 2014

Jan. 31, 2014

Feb. 04, 2014

Jan. 31, 2014

Feb. 04, 2014

Jan. 31, 2014

Feb. 04, 2014

Jan. 31, 2014

Mar. 31, 2014

Options

Time-Based Vesting Conditions

Market-Based Vesting Conditions

Board of Directors and Management

Management

tranch

Subsequent event

Tranche 1

Tranche 2

Tranche 3

Tranche 4

Share price equivalent $34.788

Share price equivalent $42.350

Share price equivalent $51.425

Share price equivalent $60.500

Minimum

Forecast

Share price equivalent $34.788

Share price equivalent $42.350

Share price equivalent $51.425

Share price equivalent $60.500

Stock Incentive Plan

Number of shares which may be issued pursuant to the Plan

1,097,500

Number of shares available for issuance under the Plan

21,416

Number of shares

3,750

140,000

25,000

10,000

25,000

10,000

25,000

10,000

25,000

10,000

Exercise Price (in dollars per share)

$21.70

$30.88

$31.13

$30.88

$31.13

$30.88

$31.13

$30.88

$31.13

Grant Date Fair Value (in dollars per share)

$5.68

$5.51

$5.64

$5.35

$5.46

$4.88

$5.03

$4.15

$4.27

Risk-Free Interest Rate (as a percent)

2.02%

1.98%

Estimated Volatility (as a percent)

43.00%

31.00%

Dividend Yield (as a percent)

4.61%

4.60%

4.50%

4.60%

4.50%

4.60%

4.50%

4.60%

4.50%

Expected Life

'5 years

'5 years 2 months 1 day

'5 years 1 month 24 days

'5 years 7 months 6 days

'5 years 6 months 29 days

'5 years 11 months 26 days

'5 years 11 months 19 days

'6 years 3 months 7 days

'6 years 3 months

Derived Service Period

'4 months 6 days

'3 months 22 days

'1 year 2 months 8 days

'1 year 1 month 24 days

'1 year 11 months 23 days

'1 year 11 months 8 days

'2 years 6 months 14 days

'2 years 6 months

Number of equal tranches in which options will become exercisable

Consecutive business days at any point during specified period for which the Company's common stock closed at specified prices

'3 days

Percentage of the purchase price for the Option

112.70%

111.80%

137.10%

136.10%

166.50%

165.20%

195.90%

194.40%

Share price equivalent

$34.79

$42.35

$51.42

$60.50

Expiration period of unvested portion of options

'5 years

Termination period of options

'10 years

Compensation expense recognized

$151,000

$49,000

$40,000

$187,000

$474,000

Stock_Incentive_Plan_Details_2

Stock Incentive Plan (Details 2) (Restricted Stock Awards, USD $)	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 28, 2014	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Restricted Stock Awards	'	'	'	'
Stock Incentive Plan	'	'	'	'
Granted (in shares)	'	'	16,000	'
Value on the grant date (in dollars per share)	'	'	$21.70	'
Vesting period	'	'	'3 years	'
Forfeited (in shares)	'	'	'	8,000
Vesting percentage	33.33%	'	'	'
Vested (in shares)	2,666	'	'	'
Compensation expense recognized	'	$14,000	$19,000	'

Major_Customers_and_Concentrat2

Major Customers and Concentration of Credit Risk (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Customer	Mar. 31, 2013	Customer
Major Customers and Concentration of Credit Risk	'	'	'
Net sales	$27,759	$26,609	'
Concentration risk amount	5,620	'	6,585
Number of significant customers	4	'	4
Net sales \| Customer concentration risk \| All significant customers	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk percentage	72.00%	62.00%	'
Net sales \| Customer concentration risk \| Converted product customer 1	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk percentage	51.00%	52.00%	'
Net sales \| Customer concentration risk \| Converted product customer 2	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk percentage	'	10.00%	'
Net sales \| Customer concentration risk \| Converted product customer 3	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk percentage	11.00%	'	'
Net sales \| Customer concentration risk \| Converted product customer 4	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk percentage	10.00%	'	'
Accounts receivable \| Credit risk \| All significant customers	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk amount	3,165	'	3,690
Concentration risk percentage	57.00%	'	56.00%
Accounts receivable \| Credit risk \| Converted product customer 1	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk amount	2,070	'	2,678
Concentration risk percentage	37.00%	'	41.00%
Accounts receivable \| Credit risk \| Converted product customer 2	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk amount	'	'	1,012
Concentration risk percentage	'	'	15.00%
Accounts receivable \| Credit risk \| Converted product customer 3	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk amount	712	'	'
Concentration risk percentage	13.00%	'	'
Accounts receivable \| Credit risk \| Converted product customer 4	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Concentration risk amount	383	'	'
Concentration risk percentage	7.00%	'	'
Converted product	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Net sales	26,154	24,608	'
Parent roll	'	'	'
Major Customers and Concentration of Credit Risk	'	'	'
Net sales	$1,605	$2,001	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

Mar. 31, 2014

Mar. 31, 2013

Apr. 16, 2014

Apr. 09, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Apr. 09, 2014

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

First Amendment to the Credit Agreement

Stock options

Subsequent event

First Amendment to the Credit Agreement

2014 Plan

President and Chief Executive Officer

President and certain members of management

Stock options

Stock options with President and market-based vesting conditions

Awards granted on April 9, 2014

Forecast

Maximum

Minimum

Percentage of the purchase price for the Option 115%

Percentage of the purchase price for the Option 140%

Percentage of the purchase price for the Option 170%

Percentage of the purchase price for the Option 200%

Tranche 1

Tranche 2

Tranche 3

Tranche 4

Subsequent Events

Number of shares granted

400,000

Purchase price (in dollars per share)

$30.25

Consecutive business days at any point during specified period for which the Company's common stock closed at specified prices

'3 days

Percentage of the purchase price for the Option

115.00%

140.00%

170.00%

200.00%

Number of options used to estimate grant date fair value of each tranche (in shares)

100,000

Share price equivalent one (in dollars per share)

$34.79

Share price equivalent two (in dollars per share)

$42.35

Share price equivalent three (in dollars per share)

$51.42

Share price equivalent four (in dollars per share)

$60.50

Expiration period of unvested portion of options

'5 years

Termination period of options

'10 years

Compensation expense recognized

$151,000

$49,000

$159,000

$557,000

$1,100,000

$266,000

$460,000

$688,000

$147,000

$198,000

$744,000

$1,561,000

$194,000

$422,000

$96,000

$712,000

$141,000

$26,000

$243,000

$449,000

$75,000

$76,000

$15,000

$58,000

$303,000

$242,000

$50,000

$49,000

$10,000

$140,000

$198,000

$158,000

Number of shares available for issuance under the Plan including the shares rolled over from the 2005 Plan

21,416

400,000

Number of shares available for issuance under the plan rolled over from previous plan

21,416

Maximum borrowing capacity

18,000,000

15,000,000

Capital expenditures excluded to modify debt instrument covenant fixed charge ratio

$31,000,000