Orchids Paper Products 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Entity Registrant Name	Orchids Paper Products CO /DE
Entity Central Index Key	1,324,189
Trading Symbol	tis
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,268,891
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 8,550	$ 1,021
Accounts receivable, net of allowance of $155 in 2015 and 2014	12,763	9,109
Receivables from related party	1,032	1,086
Inventories, net	$ 12,047	9,650
Income taxes receivable		634
Prepaid expenses	$ 1,626	1,285
VAT receivable	1,735	1,734
Other current assets	157	899
Deferred income taxes	592	614
Total current assets	38,502	26,032
Property, plant and equipment	205,036	169,551
Accumulated depreciation	(56,807)	(49,831)
Net property, plant and equipment	148,229	119,720
Intangible assets, net of accumulated amortization of $1,883 in 2015 and $753 in 2014	16,107	17,237
Goodwill	7,560	7,560
Deferred debt issuance costs, net of accumulated amortization of $72 in 2015 and $20 in 2014	872	190
Total assets	$ 211,270	170,739
Current liabilities:
Bank overdrafts		1,706
Accounts payable	$ 4,705	4,796
Accounts payable to related party	4,846	6,595
Accrued liabilities	5,668	3,747
Current portion of long-term debt	3,025	2,700
Total current liabilities	18,244	19,544
Long-term debt, less current portion	43,600	33,662
Deferred income taxes	16,175	17,020
Stockholders' equity:
Common stock, $.001 par value, 25,000,000 shares authorized, 10,268,891 and 8,757,975 shares issued and outstanding in 2015 and 2014, respectively	10	9
Additional paid-in capital	97,410	64,275
Retained earnings	35,831	36,229
Total stockholders' equity	133,251	100,513
Total liabilities and stockholders' equity	$ 211,270	$ 170,739

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 155	$ 155
Accumulated amortization, intangible assets	1,883	753
Accumulated amortization, deferred debt issuance costs	$ 72	$ 20
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	25,000,000	25,000,000
Common stock, Shares Issued (in shares)	10,268,891	8,757,975
Common Stock, Shares Outstanding (in shares)	10,268,891	8,757,975

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 46,832	$ 44,429	$ 126,542	$ 101,384
Cost of sales	36,987	35,645	104,192	81,092
Gross profit	9,845	8,784	22,350	20,292
Selling, general and administrative expenses	2,437	2,541	7,174	9,127
Intangibles amortization	376	322	1,130	430
Operating income	7,032	5,921	14,046	10,735
Interest expense	11	90	289	215
Other (income) expense, net	(169)	147	(507)	141
Income before income taxes	7,190	5,684	14,264	10,379
Provision for income taxes:
Current	2,708	3,041	5,230	4,858
Deferred	(260)	(1,187)	(822)	(1,498)
	2,448	1,854	4,408	3,360
Net income	$ 4,742	$ 3,830	$ 9,856	$ 7,019
Net income per common share:
Basic (in dollars per share)	$ 0.46	$ 0.44	$ 1.02	$ 0.84
Diluted (in dollars per share)	$ 0.45	$ 0.44	$ 1.02	$ 0.83
Shares used in calculating net income per common share:
Basic (in shares)	10,367,026	8,753,308	9,613,412	8,363,913
Diluted (in shares)	10,425,485	8,823,937	9,672,961	8,442,057
Dividends per share (in dollars per share)	$ 0.35	$ 0.35	$ 1.05	$ 1.05

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows From Operating Activities
Net income	$ 9,856	$ 7,019
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	$ 8,255	7,286
Provision for doubtful accounts		1
Deferred income taxes	$ (822)	(1,498)
Stock compensation expense	$ 777	1,609
Loss on disposal of property, plant and equipment		8
Changes in cash due to changes in operating assets and liabilities:
Accounts receivable	$ (3,600)	(4,727)
Inventories	(2,397)	$ 777
Income taxes receivable	634
Prepaid expenses	(341)	$ (300)
Other current assets	741	(2,579)
Accounts payable	(1,840)	6,913
Accrued liabilities	1,921	1,362
Net cash provided by operating activities	$ 13,183	15,871
Cash Flows From Investing Activities
Acquisition of Fabrica assets and U.S. business		(16,700)
Purchases of property, plant and equipment	$ (35,485)	(13,346)
Purchases of short-term investments		(2)
Proceeds from the sale of investment securities		5,037
Net cash used in investing activities	$ (35,485)	(25,011)
Cash Flows From Financing Activities
Borrowings under long-term debt	20,000	30,000
Principal payments on long-term debt	(2,025)	$ (15,754)
Decrease in bank overdrafts	(1,706)
Net borrowings (repayments) on revolving credit line	(7,712)
Dividends paid to stockholders	(10,254)	$ (8,716)
Net proceeds from follow on stock offering	32,155
Proceeds from the exercise of stock options	210	$ 79
Excess tax benefit (deficit) of stock options exercised	(6)	20
Deferred debt issuance costs	(831)	(203)
Net cash provided by financing activities	29,831	5,426
Net increase (decrease) in cash	7,529	(3,714)
Cash, beginning	1,021	7,205
Cash, ending	8,550	3,491
Supplemental Disclosure:
Interest paid	490	350
Income taxes paid	4,470	3,671
Tax benefits realized from stock options exercised	$ 23	16
Stock issued for Fabrica assets and U.S. business		$ 16,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 — Basis of Presentation Orchids Paper Products Company and its subsidiaries (collectively, “Orchids” or the “Company”) produces bulk tissue paper, known as parent rolls, and converts parent rolls into finished products, including paper towels, bathroom tissue and paper napkins. The Company predominately sells its products for use in the “at-home” market under private labels to a customer base consisting primarily of dollar stores, discount retailers and grocery stores that offer limited alternatives across a wide range of products, and, to a lesser extent, the “away-from-home” market. The Company has owned and operated its manufacturing facility in Pryor, Oklahoma since 1998. On June 3, 2014, the Company completed the acquisition of certain assets from Fabrica de Papel San Francisco, S.A. de C.V. (“Fabrica”) pursuant to an Asset Purchase Agreement (see Note 2). In connection with the acquisition of these assets, the Company formed three wholly-owned subsidiaries: Orchids Mexico DE Holdings, LLC, Orchids Mexico DE Member, LLC, and OPP Acquisition Mexico, S. de R.L. de C.V (“Orchids Mexico”). The accompanying consolidated financial statements include the accounts of Orchids and these wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Company’s common 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, 2014, filed with the SEC on March 9, 2015. 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. Certain prior period amounts in the accompanying financial statements have been reclassified to conform to the current period presentation. These reclassifications did not affect previously reported amounts of net income.

Note 2 - Acquisition of Fabrica

Note 2 - Acquisition of Fabrica Assets and U.S. Business	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 2 — Acquisition of Fabrica Assets and U.S. Business On May 5, 2014, Orchids Paper Products Company and its wholly owned subsidiary, Orchids Mexico, entered into an asset purchase agreement (“APA”) with Fabrica to acquire certain assets and 100% of the U.S. business of Fabrica. On June 3, 2014, the Company closed on the transaction set forth in the APA, and in connection therewith, entered into a supply agreement (“Supply Agreement”) and a lease agreement (“Equipment Lease Agreement”) (collectively, the “Fabrica Transaction”). Related Party Transactions The Company incurred the following transactions with Fabrica during the three and nine-month periods ended September 30: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Products purchased under the Supply Agreement $ 9,472 $ 8,393 $ 29,025 $ 12,271 Amounts billed to Fabrica under the Equipment Lease Agreement $ 666 $ 779 $ 1,590 $ 977 Parent rolls purchased by Fabrica $ 3,094 $ - $ 4,464 $ - Intangibles and Goodwill Intangible assets at September 30, 2015 were: Life Gross Carrying Accumulated Net Carrying (in years) Amount Amortization Value (in thousands) Intangible Asset - Supply and Equipment Lease Agreement 20 $ 12,800 $ 800 $ 12,000 Intangible Asset - Licenses/Trademarks 20 1,350 84 1,266 Intangible Asset - Non-Compete Agreement 2 1,150 719 431 Intangible Asset - Customer Relationships 12 2,690 280 2,410 $ 17,990 $ 1,883 $ 16,107 Intangible assets at December 31, 2014 were: Life Gross Carrying Accumulated Net Carrying (in years) Amount Amortization Value (in thousands) Intangible Asset - Supply and Equipment Lease Agreement 20 $ 12,800 $ 320 $ 12,480 Intangible Asset - Licenses/Trademarks 20 1,350 34 1,316 Intangible Asset - Non-Compete Agreement 2 1,150 287 863 Intangible Asset - Customer Relationships 12 2,690 112 2,578 $ 17,990 $ 753 $ 17,237 There were no changes to the $7.6 million goodwill recognized from the Fabrica Transaction during the three and nine-month periods ending September 30, 2015 and 2014. No goodwill impairment has been recorded as of September 30, 2015.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 3 — Fair Value Measurements The Company does not report any assets or liabilities at fair value in the financial statements. However, the fair value of the Company’s long-term debt is estimated by management to approximate the carrying value of $46,625,000 and $36,362,000 at September 30, 2015 and December 31, 2014, 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.

Note 4 - Commitments and Contin

Note 4 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 4 — 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. In September 2014, the Company entered into a similar contract with a different vendor for natural gas requirements in 2017. Commitments remaining under these contracts are as follows: Period MMBTUs Price per MMBTU Management fee per MMBTU October 2015 - December 2015 91,900 $ 4.50 $ 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 January 2017 - December 2017 467,505 $ 4.06 $ - Purchases under the gas contract were $0.5 million for each of the three-months periods ended September 30, 2015 and 2014, respectively, and $1.3 million and $1.4 million for the nine-month periods ended September 30, 2015 and 2014, respectively. 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 a price designated in the contract (approximates spot price). In the second quarter of 2015, the Company began construction on a new manufacturing facility in Barnwell, South Carolina, which has a total estimated cost of $110.0 million to $127.0 million. As of September 30, 2015, we had $61.7 million of obligations under significant purchase orders related to this facility.

Note 5 - Inventories

Note 5 - Inventories	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 5 — Inventories Inventories at September 30, 2015 and December 31, 2014 were as follows: September 30, December 31, 2015 2014 (in thousands) Raw materials $ 3,698 $ 4,392 Bulk paper rolls 1,453 861 Converted finished goods 7,136 4,595 Inventory valuation reserve (240 ) (198 ) $ 12,047 $ 9,650

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 6 — Property, Plant and Equipment Property, plant and equipment at September 30, 2015 and December 31, 2014 was: September 30, December 31, 2015 2014 (in thousands) Land $ 1,127 $ 1,119 Buildings and improvements 23,770 23,190 Machinery and equipment 141,225 107,251 Vehicles 1,489 1,489 Nondepreciable machinery and equipment (parts and spares) 9,931 9,121 Construction-in-process 27,494 27,381 $ 205,036 $ 169,551

Note 7 - Long-Term Debt and Rev

Note 7 - Long-Term Debt and Revolving Line of Credit	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 7 — Long-Term Debt and Revolving Line of Credit In June 2015, the Company entered into the Second Amended and Restated Credit Agreement (the “Credit Agreement”), with U.S. Bank National Association (“U.S. Bank”) consisting of the following: ● a $25.0 million revolving credit line due June 2020; ● a $47.3 million Term Loan with a 5-year term due June 2020 and payable in quarterly installments of $675,000 through June 2016 and $1.0 million per quarter thereafter; ● a $115.0 million delayed draw term loan with a 2-year draw period due June 2020 and payable in quarterly installments beginning in September 2017 of 1.5% of the June 30, 2017 outstanding balance; and ● an accordion feature allowing the revolving credit line and/or delayed draw commitment under the Credit Agreement to be increased by up to $50.0 million at any time on or before the expiration date of the Credit Agreement. The Credit Agreement has the effect of (i) combining the Company’s existing $20 million revolving line of credit designated for the purchase and construction of a paper machine and converting line in Pryor, Oklahoma and $27.3 million currently outstanding under the Company’s existing term loan into a $47.3 million term loan, (ii) increasing the delayed draw facility from $40 million to $115 million, (iii) extending the maturity of the delayed draw facility from August 2015 to June 2020, and (iv) adding a $50 million accordion feature. Proceeds from the delayed draw term loan must be utilized solely to finance the purchase and installation of new equipment and construction at the Company’s Barnwell, South Carolina facility. Under the terms of the Credit Agreement, amounts outstanding will bear interest at a variable rate of LIBOR plus a specified margin, or the base rate plus a specified margin, at the Company’s option. The specified margin is based on the Company’s quarterly Leverage Ratio, as defined in the Credit Agreement. The following table outlines the specified margins and the commitment fees payable under the Credit Agreement: LIBOR Base Commitment Leverage Ratio Margin Margin Fee Less than 1.00 1.25 % 0.00 % 0.15 % Greater than or equal to 1.00 but less than 2.00 1.50 % 0.00 % 0.20 % Greater than or equal to 2.00 but less than 3.00 1.75 % 0.00 % 0.25 % Greater than or equal to 3.00 but less than 3.50 2.25 % 0.00 % 0.30 % Greater than or equal to 3.50 2.50 % 0.25 % 0.35 % The Company’s leverage ratio at September 30, 2015 was approximately 1.55. Long-term debt at September 30, 2015 and December 31, 2014 consists of: September 30, December 31, 2015 2014 (in thousands) Revolving line of credit, maturing on June 3, 2019 $ - $ 7,712 Term Loan, maturing on June 3, 2020, due in quarterly installments of $675,000 for the first two years and $1,000,000 thereafter, excluding interest paid separately - 28,650 Term Loan, maturing on June 25, 2020, due in quarterly installments of $675,000 for the first year and $1,000,000 thereafter, excluding interest paid separately 46,625 - $ 46,625 $ 36,362 Less current portion 3,025 2,700 $ 43,600 $ 33,662 The amount available under the revolving credit line may be reduced in the event that the Company’s borrowing base, which is based upon qualified receivables and qualified inventory, is less than $25 million. Obligations under the Credit Agreement are secured by substantially all of the Company’s assets. The Credit Agreement contains representations and warranties, and affirmative and negative covenants customary for financings of this type, including, but not limited to, limitations on additional borrowings, additional investments and asset sales. The financial covenants, which are tested as of the end of each fiscal quarter, require the Company to maintain the following specific ratios: fixed charge coverage (minimum of 1.20 to 1.0) and leverage (maximum of 4.00 to 1.0 through June 2017; maximum of 3.75 to 1.0 on September 30, 2017; maximum of 3.50 to 1.0 on December 31, 2017, and thereafter). The Company was in compliance with these financial covenants at September 30, 2015.

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 8 — Income Taxes As of September 30, 2015, our annual estimated effective income tax rate is 33.9%. The annual estimated effective tax rate for 2015 differs from the statutory rate due primarily to U.S. manufacturing tax credits and foreign and state income taxes. Our actual effective income tax rate was 34. 0% and 30.9% for the three and nine-month periods ended September 30, 2015, respectively. These rates differ from the estimated effective income tax rate primarily due to a change in our estimated state tax liabilities in the second quarter of 2015. As of September 30, 2014, our annual estimated effective income tax rate is 32.4%. The actual effective tax rate for the three and nine-month periods ended September 30, 2014 was 32.6% and 32.4%, respectively. The annual estimated effective tax rate for 2014 differs from the statutory rate due primarily to U.S. manufacturing tax credits.

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 9 — 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 and nine-month periods ended September 30, 2015 and 2014 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income - ($ thousands) $ 4,742 $ 3,830 $ 9,856 $ 7,019 Less: distributed earnings allocable to participating securities (1 ) (2 ) (2 ) (6 ) Less: undistributed earnings allocable to participating securities - - - 1 Distributed and undistributed earnings allocable to common shareholders $ 4,741 $ 3,828 $ 9,854 $ 7,014 Weighted average shares outstanding 10,367,026 8,753,308 9,613,412 8,363,913 Effect of stock options 58,459 70,629 59,549 78,144 Weighted average shares outstanding - assuming dilution 10,425,485 8,823,937 9,672,961 8,442,057 Net income per common share: Basic $ 0.46 $ 0.44 $ 1.02 $ 0.84 Diluted $ 0.45 $ 0.44 $ 1.02 $ 0.83 Stock options not considered above because they were anti-dilutive 563,600 560,000 535,000 520,000

Note 10 - Stock Incentives

Note 10 - Stock Incentives	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 10 — Stock Incentives In April 2014, the Orchids Paper Products Company 2014 Stock Incentive Plan (the “2014 Plan”) was approved. The 2014 Plan replaced the Orchids Paper Products Company 2005 Stock Incentive Plan (the “2005 Plan”) and 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 400,000 shares may be issued pursuant to the 2014 Plan. As of September 30, 2015, there were 286,400 shares available for issuance under the 2014 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 nine months ended September 30, 2015 and 2014: Grant Number Exercise Grant Date Risk-Free Estimated Dividend Expected Date of Shares Price Fair Value Interest Rate Volatility Yield Life (years) May-14 35,000 $ 29.65 $ 7.50 2.62 % 41 % 4.72 % 5 June-14 5,000 $ 30.09 $ 7.67 2.63 % 41 % 4.65 % 5 May-15 40,000 $ 22.485 $ 4.64 2.13 % 40 % 6.23 % 5 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 nine months of 2015 and 2014, the Board of Directors granted options to purchase 28,600 and 145,000 shares, respectively, 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 required to achieve vesting 2014 options 2015 options Tranche 1 $ 34.788 $ 29.560 Tranche 2 $ 42.350 $ 36.000 Tranche 3 $ 51.425 $ 43.710 Tranche 4 $ 60.500 $ 51.430 Any unvested portion of the 2014 options shall expire five years from the date of grant. Any unvested portion of the 2015 options shall expire on November 8, 2018. Both the 2014 options and the 2015 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 nine months ended September 30, 2015 and 2014: Derived Risk-Free Service Grant Number Exercise Grant Date Interest Estimated Dividend Expected Period Date of Shares Price Fair Value Rate Volatility Yield Life (years) (years) January 14 - Tranche 1 10,000 $ 31.125 $ 5.64 1.98 % 31 % 4.50 % 5.15 0.31 January 14 - Tranche 2 10,000 $ 31.125 $ 5.46 1.98 % 31 % 4.50 % 5.58 1.15 January 14 - Tranche 3 10,000 $ 31.125 $ 5.03 1.98 % 31 % 4.50 % 5.97 1.94 January 14 - Tranche 4 10,000 $ 31.125 $ 4.27 1.98 % 31 % 4.50 % 6.25 2.50 February 14 - Tranche 1 25,000 $ 30.88 $ 5.51 1.98 % 31 % 4.60 % 5.17 0.35 February 14 - Tranche 2 25,000 $ 30.88 $ 5.35 1.98 % 31 % 4.60 % 5.60 1.19 February 14 - Tranche 3 25,000 $ 30.88 $ 4.88 1.98 % 31 % 4.60 % 5.99 1.98 February 14 - Tranche 4 25,000 $ 30.88 $ 4.15 1.98 % 31 % 4.60 % 6.27 2.54 May 14 - Tranche 1 1,250 $ 28.185 $ 5.06 2.03 % 31 % 4.70 % 5.36 0.71 May 14 - Tranche 2 1,250 $ 28.185 $ 4.74 2.03 % 31 % 4.70 % 5.78 1.56 May 14 - Tranche 3 1,250 $ 28.185 $ 4.02 2.03 % 31 % 4.70 % 6.14 2.29 May 14 - Tranche 4 1,250 $ 28.185 $ 3.29 2.03 % 31 % 4.70 % 6.39 2.79 September 15 - Tranche 1 7,150 $ 25.24 $ 4.44 1.82 % 34 % 5.20 % 5.20 0.40 September 15 - Tranche 2 7,150 $ 25.24 $ 3.92 1.82 % 34 % 5.20 % 5.51 1.02 September 15 - Tranche 3 7,150 $ 25.24 $ 3.11 1.82 % 34 % 5.20 % 5.77 1.54 September 15 - Tranche 4 7,150 $ 25.24 $ 2.36 1.82 % 34 % 5.20 % 5.93 1.87 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. Options Issued Outside of the 2014 Plan In April 2014, the Company’s stockholders voted to approve the options granted to Mr. Jeffrey S. Schoen, the Company’s President and Chief Executive Officer, on November 8, 2013. Upon his appointment as an officer of the Company, 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 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 2005 Plan or the 2014 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. The following table details the assumptions used in the valuation model for the options granted to Mr. Schoen: Number Exercise Grant Date Risk-Free I Rate Estimated Dividend Expected Derived Service (years) Tranche 1 100,000 $ 30.25 $ 5.18 2.10 % 30 % 4.60 % 4.99 0.40 Tranche 2 100,000 $ 30.25 $ 5.04 2.10 % 30 % 4.60 % 5.42 1.25 Tranche 3 100,000 $ 30.25 $ 4.31 2.10 % 30 % 4.60 % 5.79 2.00 Tranche 4 100,000 $ 30.25 $ 3.50 2.10 % 30 % 4.60 % 6.04 2.50 Total Option Expense The Company recognized the following expenses related to all options granted under the 2005 Plan, the 2014 Plan and the Schoen options: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Time-Based Vesting Options $ 1,000 $ 1,000 $ 188,000 $ 307,000 Market-Based Vesting Options 77,000 427,000 555,000 1,264,000 Total compensation expense related to stock options $ 78,000 $ 428,000 $ 743,000 $ 1,571,000 Future Expected Market-Based Stock Option Expense The grant of options that vest based on a market condition will have a material impact on the Company’s results of operations. Based on the derived service periods of the options, the Company expects to expense the compensation cost related to these options as shown in the following table. 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. 2015 2015 2016 2017 Q1 Q2 Q3 Q4 Total Total Total (in thousands) Tranche 1 $ - $ - $ - $ 26 $ 26 $ 5 $ - Tranche 2 134 104 1 10 249 19 $ - Tranche 3 73 72 47 73 265 73 $ 3 Tranche 4 47 48 30 48 173 138 $ 5 Total expense $ 254 $ 224 $ 78 $ 157 $ 713 $ 235 $ 8 Restricted Stock In February 2013, the Company granted 16,000 shares of restricted stock to certain employees under the 2005 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 the nine months ended September 30, 2015 and 2014, 334 and 667 of these shares were forfeited, respectively. In 2013, 8,000 of these shares were forfeited. The first third of unforfeited shares, or 2,666 shares, vested in February 2014. The second third of unforfeited shares, or 2,333 shares, vested in February 2015. 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 $8,000 and $9,000 for the three-month periods ended September 30, 2015 and 2014, respectively, and $34,000 and $38,000 for the nine-month periods ended September 30, 2015 and 2014, respectively, related to shares of restricted stock granted.

Note 11 - Major Customers and C

Note 11 - Major Customers and Concentration of Credit Risk	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 11 — 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 and nine months ended September 30, 2015 and 2014 were: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Converted product net sales $ 43,675 $ 43,157 $ 120,877 $ 97,042 Parent roll net sales 3,157 1,272 5,665 4,342 Net sales $ 46,832 $ 44,429 $ 126,542 $ 101,384 Credit risk for the Company in the three and nine months ended September 30, 2015 and 2014 was concentrated in the following customers who each comprised more than 10% of the Company’s total net sales: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Converted product customer 1 29 % 35 % 33 % 42 % Converted product customer 2 15 % 13 % 12 % 10 % Converted product customer 3 15 % 13 % 15 % 11 % Total percent of net sales 59 % 61 % 60 % 63 % No additional customers accounted for more than 10% of sales during the three or nine-month periods ended September 30, 2015 or 2014. At September 30, 2015 and December 31, 2014, the significant customers accounted for the following amounts of the Company’s accounts receivable (in thousands): September 30, December 31, 2015 2014 Converted product customer 1 $ 2,162 17 % $ 2,634 28 % Converted product customer 2 2,203 17 % 1,410 15 % Converted product customer 3 1,859 15 % 813 9 % Total of accounts receivable $ 6,224 49 % $ 4,857 52 % At September 30, 2015, one additional parent roll customer, a related party, accounted for approximately 15% of the Company’s accounts receivable. This customer did not account for more than 10% of accounts receivable as of December 31, 2014.

Note 12 - Follow-On Stock Offer

Note 12 - Follow-On Stock Offering	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Follow on Stock Offering [Text Block]	Note 12 — Follow-On Stock Offering In April 2015, the Company completed an underwritten public follow-on offering of 1,500,000 shares of its common stock at $23.00 per share. The underwriters were granted an option to purchase up to an additional 225,000 shares for a period of 30 days, which was not exercised. Net proceeds to the Company were $32.2 million, after giving effect to expenses incurred related to the offering.

Note 13 - ODFA Pooled Financing

Note 13 - ODFA Pooled Financing	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Financing Agreements with State Authorities Disclosure [Text Block]	Note 13 – ODFA Pooled Financing In September 2014, the Company entered into an agreement with the Oklahoma Development Finance Authority (“ODFA”) whereby the ODFA agreed to provide the Company up to $3.5 million to fund a portion of the cost of a new paper production line before September 1, 2020. The agreement provides for the Oklahoma state withholding payroll taxes withheld by the Company from its employees to be placed into the Community Economic Development Pooled Finance Revolving Fund – Orchids Paper Products (“Revolving Fund”). Each year on September 1, beginning in 2015 and ending in 2020, the ODFA will return these state withholding taxes in the Revolving Fund to the Company, up to an amount totaling $3.5 million. These amounts are recognized as a note receivable in other current assets in the consolidated balance sheet and in other income in the consolidated statements of income as they are withheld from employees. As of September 30, 2015, the Company had a note receivable of $157,000 related to amounts due under the ODFA pooled financing agreement. The Company recognized $169,000 and $56,000 of other income in the consolidated statement of income for the three-month periods ended September 30, 2015 and 2014, respectively, related to this agreement. The Company recognized $514,000 and $56,000 of other income in the consolidated statement of income for the nine-month periods ended September 30, 2015 and 2014, respectively, related to this agreement. The increase in other income for the 2015 periods is due to the fact that the agreement with the ODFA was effective on September 1, 2014 and was in effect for the entire three-month and nine-month periods in 2015 rather than the one-month of September in 2014.

Note 14 - Registration of Secur

Note 14 - Registration of Securities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Registration of Securities [Text Block]	Note 14 — Registration of Securities On September 16, 2015, the Company’s shelf Registration Statement on Form S-3 (the “Registration Statement”) was declared effective by the Securities and Exchange Commission. Pursuant to the Registration Statement, the Company, from time to time, may sell common stock, warrants or units comprised of the other securities described in the Registration Statement, in a single or multiple offerings up to a total dollar amount of $50,000,000, at prices and terms that will be determined at the time of the offering. The Company’s willingness and ability to raise capital pursuant to the Registration Statement will depend upon a number of circumstances, including, without limitation, the Company’s need for additional capital to fund operations, organic growth or acquisitions, the Company’s financial and operating performance and the receptiveness of the capital markets to potential offerings by the Company. As of the date of this report, the Company does not have any agreements with respect to the issuance of securities pursuant to the Registration Statement.

Note 15 - New Accounting Pronou

Note 15 - New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 15 — New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 clarifies the principles for recognizing revenue and develops a common revenue standard under U.S. GAAP under which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Due to the issuance of Accounting Standards Update 2015-14, “Revenue from Contracts with Customers – Deferral of the Effective Date” (“ASU 2015-14), in July 2015, the effective date of ASU 2014-09 was deferred for one year and becomes effective for the Company for interim and annual periods beginning on or after December 15, 2017. Management is currently assessing the impact ASU 2014-09 will have on the Company, but it is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. In April 2015, the FASB issued Accounting Standards Update 2015-03, “Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual and interim periods beginning after December 15, 2015. This standard is not expected to have a material effect on the Company’s financial position, results of operations or cash flows, as it simply requires a change in presentation and does not affect the recognition and measurement guidance for debt issuance costs. In April 2015, the FASB issued Accounting Standards Update 2015-05, “Intangibles – Goodwill and Other – Internal-Use Software – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (“ASU 2015-05”). ASU 2015-05 provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance does not change the accounting for a customer’s service contracts. ASU 2015-05 is effective for annual and interim periods beginning after December 15, 2015. Management is currently assessing the impact ASU 2015-05 will have, if any, on the Company’s financial position, results of operations and cash flows. In July 2015, the FASB issued Accounting Standards Update 2015-11, “Inventory – Simplifying the Measurement of Inventory” (“ASU 2015-11”). ASU 2015-11 requires inventory measured using all methods other than the last-in, first-out (LIFO) or retail methods to be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for public companies for annual and interim periods beginning after December 15, 2016. Management is currently assessing the impact ASU 2015-11 will have, if any, on the Company’s financial position, results of operations and cash flows. In August 2015, the FASB issued Accounting Standards Update 2015-15, “Interest – Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements” (“ASU 2015-15). ASU 2015-15 states that since ASU 2015-03, as discussed above, does not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements, the SEC staff will not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Management is currently assessing the impact ASU 2015-15 will have, if any, on the Company’s financial position, results of operations and cash flows.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	Note 16 — Subsequent Events On October 21, 2015, the Board of Directors authorized a quarterly cash dividend of $0.35 per outstanding share of the Company’s common stock. The Company expects to pay this dividend on November 16, 2015 to stockholders of record at the close of business on November 2 , 2015.

Note 2 - Acquisition of Fabri22

Note 2 - Acquisition of Fabrica Assets and U.S. Business (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Products purchased under the Supply Agreement $ 9,472 $ 8,393 $ 29,025 $ 12,271 Amounts billed to Fabrica under the Equipment Lease Agreement $ 666 $ 779 $ 1,590 $ 977 Parent rolls purchased by Fabrica $ 3,094 $ - $ 4,464 $ -
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Life Gross Carrying Accumulated Net Carrying (in years) Amount Amortization Value (in thousands) Intangible Asset - Supply and Equipment Lease Agreement 20 $ 12,800 $ 800 $ 12,000 Intangible Asset - Licenses/Trademarks 20 1,350 84 1,266 Intangible Asset - Non-Compete Agreement 2 1,150 719 431 Intangible Asset - Customer Relationships 12 2,690 280 2,410 $ 17,990 $ 1,883 $ 16,107 Life Gross Carrying Accumulated Net Carrying (in years) Amount Amortization Value (in thousands) Intangible Asset - Supply and Equipment Lease Agreement 20 $ 12,800 $ 320 $ 12,480 Intangible Asset - Licenses/Trademarks 20 1,350 34 1,316 Intangible Asset - Non-Compete Agreement 2 1,150 287 863 Intangible Asset - Customer Relationships 12 2,690 112 2,578 $ 17,990 $ 753 $ 17,237

Note 4 - Commitments and Cont23

Note 4 - Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Long-term Purchase Commitment [Table Text Block]	Period MMBTUs Price per MMBTU Management fee per MMBTU October 2015 - December 2015 91,900 $ 4.50 $ 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 January 2017 - December 2017 467,505 $ 4.06 $ -

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2015 2014 (in thousands) Raw materials $ 3,698 $ 4,392 Bulk paper rolls 1,453 861 Converted finished goods 7,136 4,595 Inventory valuation reserve (240 ) (198 ) $ 12,047 $ 9,650

Note 6 - Property, Plant and 25

Note 6 - Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2015 2014 (in thousands) Land $ 1,127 $ 1,119 Buildings and improvements 23,770 23,190 Machinery and equipment 141,225 107,251 Vehicles 1,489 1,489 Nondepreciable machinery and equipment (parts and spares) 9,931 9,121 Construction-in-process 27,494 27,381 $ 205,036 $ 169,551

Note 7 - Long-Term Debt and R26

Note 7 - Long-Term Debt and Revolving Line of Credit (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Interest Margin and Commitment Fee Payable [Table Text Block]	LIBOR Base Commitment Leverage Ratio Margin Margin Fee Less than 1.00 1.25 % 0.00 % 0.15 % Greater than or equal to 1.00 but less than 2.00 1.50 % 0.00 % 0.20 % Greater than or equal to 2.00 but less than 3.00 1.75 % 0.00 % 0.25 % Greater than or equal to 3.00 but less than 3.50 2.25 % 0.00 % 0.30 % Greater than or equal to 3.50 2.50 % 0.25 % 0.35 %
Schedule of Long-term Debt Instruments [Table Text Block]	September 30, December 31, 2015 2014 (in thousands) Revolving line of credit, maturing on June 3, 2019 $ - $ 7,712 Term Loan, maturing on June 3, 2020, due in quarterly installments of $675,000 for the first two years and $1,000,000 thereafter, excluding interest paid separately - 28,650 Term Loan, maturing on June 25, 2020, due in quarterly installments of $675,000 for the first year and $1,000,000 thereafter, excluding interest paid separately 46,625 - $ 46,625 $ 36,362 Less current portion 3,025 2,700 $ 43,600 $ 33,662

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income - ($ thousands) $ 4,742 $ 3,830 $ 9,856 $ 7,019 Less: distributed earnings allocable to participating securities (1 ) (2 ) (2 ) (6 ) Less: undistributed earnings allocable to participating securities - - - 1 Distributed and undistributed earnings allocable to common shareholders $ 4,741 $ 3,828 $ 9,854 $ 7,014 Weighted average shares outstanding 10,367,026 8,753,308 9,613,412 8,363,913 Effect of stock options 58,459 70,629 59,549 78,144 Weighted average shares outstanding - assuming dilution 10,425,485 8,823,937 9,672,961 8,442,057 Net income per common share: Basic $ 0.46 $ 0.44 $ 1.02 $ 0.84 Diluted $ 0.45 $ 0.44 $ 1.02 $ 0.83 Stock options not considered above because they were anti-dilutive 563,600 560,000 535,000 520,000

Note 10 - Stock Incentives (Tab

Note 10 - Stock Incentives (Tables)	9 Months Ended
	Sep. 30, 2015
Chief Executive Officer [Member]
Notes Tables
Schedule of Market-Based Options Granted and Valuation Assumptions [Table Text Block]	Number Exercise Grant Date Risk-Free I Rate Estimated Dividend Expected Derived Service (years) Tranche 1 100,000 $ 30.25 $ 5.18 2.10 % 30 % 4.60 % 4.99 0.40 Tranche 2 100,000 $ 30.25 $ 5.04 2.10 % 30 % 4.60 % 5.42 1.25 Tranche 3 100,000 $ 30.25 $ 4.31 2.10 % 30 % 4.60 % 5.79 2.00 Tranche 4 100,000 $ 30.25 $ 3.50 2.10 % 30 % 4.60 % 6.04 2.50
Management [Member]
Notes Tables
Schedule of Market-Based Options Granted and Valuation Assumptions [Table Text Block]	Derived Risk-Free Service Grant Number Exercise Grant Date Interest Estimated Dividend Expected Period Date of Shares Price Fair Value Rate Volatility Yield Life (years) (years) January 14 - Tranche 1 10,000 $ 31.125 $ 5.64 1.98 % 31 % 4.50 % 5.15 0.31 January 14 - Tranche 2 10,000 $ 31.125 $ 5.46 1.98 % 31 % 4.50 % 5.58 1.15 January 14 - Tranche 3 10,000 $ 31.125 $ 5.03 1.98 % 31 % 4.50 % 5.97 1.94 January 14 - Tranche 4 10,000 $ 31.125 $ 4.27 1.98 % 31 % 4.50 % 6.25 2.50 February 14 - Tranche 1 25,000 $ 30.88 $ 5.51 1.98 % 31 % 4.60 % 5.17 0.35 February 14 - Tranche 2 25,000 $ 30.88 $ 5.35 1.98 % 31 % 4.60 % 5.60 1.19 February 14 - Tranche 3 25,000 $ 30.88 $ 4.88 1.98 % 31 % 4.60 % 5.99 1.98 February 14 - Tranche 4 25,000 $ 30.88 $ 4.15 1.98 % 31 % 4.60 % 6.27 2.54 May 14 - Tranche 1 1,250 $ 28.185 $ 5.06 2.03 % 31 % 4.70 % 5.36 0.71 May 14 - Tranche 2 1,250 $ 28.185 $ 4.74 2.03 % 31 % 4.70 % 5.78 1.56 May 14 - Tranche 3 1,250 $ 28.185 $ 4.02 2.03 % 31 % 4.70 % 6.14 2.29 May 14 - Tranche 4 1,250 $ 28.185 $ 3.29 2.03 % 31 % 4.70 % 6.39 2.79 September 15 - Tranche 1 7,150 $ 25.24 $ 4.44 1.82 % 34 % 5.20 % 5.20 0.40 September 15 - Tranche 2 7,150 $ 25.24 $ 3.92 1.82 % 34 % 5.20 % 5.51 1.02 September 15 - Tranche 3 7,150 $ 25.24 $ 3.11 1.82 % 34 % 5.20 % 5.77 1.54 September 15 - Tranche 4 7,150 $ 25.24 $ 2.36 1.82 % 34 % 5.20 % 5.93 1.87
Schedule of Time-Based Vesting Options Granted and Valuation Assumptions [Table Text Block]	Grant Number Exercise Grant Date Risk-Free Estimated Dividend Expected Date of Shares Price Fair Value Interest Rate Volatility Yield Life (years) May-14 35,000 $ 29.65 $ 7.50 2.62 % 41 % 4.72 % 5 June-14 5,000 $ 30.09 $ 7.67 2.63 % 41 % 4.65 % 5 May-15 40,000 $ 22.485 $ 4.64 2.13 % 40 % 6.23 % 5
Share-based Compensation Arrangement by Share-based Payment Award, Market-based Vesting Conditions [Table Text Block]	Share price required to achieve vesting 2014 options 2015 options Tranche 1 $ 34.788 $ 29.560 Tranche 2 $ 42.350 $ 36.000 Tranche 3 $ 51.425 $ 43.710 Tranche 4 $ 60.500 $ 51.430
Schedule of Vesting of Exercisable Options Granted to Incoming President and Chief Executive Officer [Table Text Block]	Share price closes at or above the following 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
Share-based Compensation Arrangement by Share-based Payment Award, Expenses Related to Options Granted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Time-Based Vesting Options $ 1,000 $ 1,000 $ 188,000 $ 307,000 Market-Based Vesting Options 77,000 427,000 555,000 1,264,000 Total compensation expense related to stock options $ 78,000 $ 428,000 $ 743,000 $ 1,571,000
Schedule of Compensation Cost Expected to be Expensed, Market-based Vesting [Table Text Block]	2015 2015 2016 2017 Q1 Q2 Q3 Q4 Total Total Total (in thousands) Tranche 1 $ - $ - $ - $ 26 $ 26 $ 5 $ - Tranche 2 134 104 1 10 249 19 $ - Tranche 3 73 72 47 73 265 73 $ 3 Tranche 4 47 48 30 48 173 138 $ 5 Total expense $ 254 $ 224 $ 78 $ 157 $ 713 $ 235 $ 8

Note 11 - Major Customers and29

Note 11 - Major Customers and Concentration of Credit Risk (Tables)	9 Months Ended
	Sep. 30, 2015
Accounts Receivable [Member]
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	September 30, December 31, 2015 2014 Converted product customer 1 $ 2,162 17 % $ 2,634 28 % Converted product customer 2 2,203 17 % 1,410 15 % Converted product customer 3 1,859 15 % 813 9 % Total of accounts receivable $ 6,224 49 % $ 4,857 52 %
Sales Revenue, Goods, Net [Member]
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Converted product customer 1 29 % 35 % 33 % 42 % Converted product customer 2 15 % 13 % 12 % 10 % Converted product customer 3 15 % 13 % 15 % 11 % Total percent of net sales 59 % 61 % 60 % 63 %
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Converted product net sales $ 43,675 $ 43,157 $ 120,877 $ 97,042 Parent roll net sales 3,157 1,272 5,665 4,342 Net sales $ 46,832 $ 44,429 $ 126,542 $ 101,384

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	Sep. 30, 2015
Number of Wholly Owned Subsidiaries	3

Note 2 - Acquisition of Fabri31

Note 2 - Acquisition of Fabrica Assets and U.S. Business (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	May. 05, 2014
Certain Assets and US Business of Fabrica [Member] | Fabrica [Member]
Business Acquisition, Percentage of Specified Division of Business Acquired						100.00%
Certain Assets and US Business of Fabrica [Member]
Goodwill, Period Increase (Decrease)	$ 0	$ 0	$ 0	$ 0
Goodwill, Impairment Loss			0
Goodwill	7,600,000	$ 7,600,000	7,600,000	$ 7,600,000
Goodwill	$ 7,560,000		$ 7,560,000		$ 7,560,000

Note 2 - Transactions with Fabr

Note 2 - Transactions with Fabrica (Details) - Fabrica [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Supply Agreement [Member]
Products purchased under the Supply Agreement	$ 9,472	$ 8,393	$ 29,025	$ 12,271
Equipment Lease Agreement [Member]
Amounts billed to Fabrica under the Equipment Lease Agreement	666	$ 779	1,590	$ 977
Parent Rolls [Member]
Parent rolls purchased by Fabrica	$ 3,094		$ 4,464

Note 2 - Intangibles and Goodwi

Note 2 - Intangibles and Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Certain Assets and US Business of Fabrica [Member] | Supply and Lease Agreements [Member]
Life in Years	20 years	20 years
Gross Carrying Amount	$ 12,800	$ 12,800
Accumulated Amortization	800	320
Net Carrying Value	$ 12,000	$ 12,480
Certain Assets and US Business of Fabrica [Member] | Licenses and Trademarks [Member]
Life in Years	20 years	20 years
Gross Carrying Amount	$ 1,350	$ 1,350
Accumulated Amortization	84	34
Net Carrying Value	$ 1,266	$ 1,316
Certain Assets and US Business of Fabrica [Member] | Noncompete Agreements [Member]
Life in Years	2 years	2 years
Gross Carrying Amount	$ 1,150	$ 1,150
Accumulated Amortization	719	287
Net Carrying Value	$ 431	$ 863
Certain Assets and US Business of Fabrica [Member] | Customer Relationships [Member]
Life in Years	12 years	12 years
Gross Carrying Amount	$ 2,690	$ 2,690
Accumulated Amortization	280	112
Net Carrying Value	2,410	2,578
Certain Assets and US Business of Fabrica [Member]
Gross Carrying Amount	17,990	17,990
Accumulated Amortization	1,883	753
Net Carrying Value	16,107	17,237
Accumulated Amortization	1,883	753
Net Carrying Value	$ 16,107	$ 17,237

Note 3 - Fair Value Measureme34

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 2 [Member]
Long-term Debt, Fair Value	$ 46,625,000	$ 36,362,000

Note 4 - Commitments and Cont35

Note 4 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2008MMBTU	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)
Inventories [Member]
Long-term Purchase Commitment Purchase, Amount		$ 0.5	$ 0.5	$ 1.3	$ 1.4
Long-term Purchase Commitment, Minimum Energy Volume Required per Year | MMBTU	334,000
Cost of Barnwell Project [Member] | Manufacturing Facility and Equipment [Member] | Barnwell South Carolina [Member] | Minimum [Member]
Cost of Capital Expenditure Projects						$ 110
Cost of Barnwell Project [Member] | Manufacturing Facility and Equipment [Member] | Barnwell South Carolina [Member] | Maximum [Member]
Cost of Capital Expenditure Projects						$ 127
Capital Addition Purchase Commitments [Member] | Manufacturing Facility and Equipment [Member] | Barnwell South Carolina [Member]
Purchase Obligation		$ 61.7		$ 61.7

Note 4 - Commitments and Cont36

Note 4 - Commitments and Contingencies (Details) - Inventories [Member]	9 Months Ended
	Sep. 30, 2015MMBTU$ / MMBTU$ / item
From October 2015 Through December 2015 [Member]
MMBTUs	91,900
Price per MMBTU | $ / MMBTU	4.5
Management fee per MMBTU | $ / item	0.07
From January 2016 Through March 2016 [Member]
MMBTUs	95,900
Price per MMBTU | $ / MMBTU	4.53
Management fee per MMBTU | $ / item	0.07
From April 2016 Through June 2016 [Member]
MMBTUs	93,600
Price per MMBTU | $ / MMBTU	4.17
Management fee per MMBTU | $ / item	0.07
From July 2016 Through September 2016 [Member]
MMBTUs	92,300
Price per MMBTU | $ / MMBTU	4.26
Management fee per MMBTU | $ / item	0.07
From October 2016 Through December 2016 [Member]
MMBTUs	91,900
Price per MMBTU | $ / MMBTU	4.42
Management fee per MMBTU | $ / item	0.07
From January 2017 Through December 2017 [Member]
MMBTUs	467,505
Price per MMBTU | $ / MMBTU	4.06
Management fee per MMBTU | $ / item

Note 5 - Inventories (Details)

Note 5 - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Raw materials	$ 3,698	$ 4,392
Bulk paper rolls	1,453	861
Converted finished goods	7,136	4,595
Inventory valuation reserve	(240)	(198)
	$ 12,047	$ 9,650

Note 6 - Property, Plant and 38

Note 6 - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Land [Member]
Property, plant, and equipment, gross	$ 1,127	$ 1,119
Building and Building Improvements [Member]
Property, plant, and equipment, gross	23,770	23,190
Machinery and Equipment [Member]
Property, plant, and equipment, gross	141,225	107,251
Vehicles [Member]
Property, plant, and equipment, gross	1,489	1,489
Nondepreciable Machinery and Equipment [Member]
Property, plant, and equipment, gross	9,931	9,121
Construction in Progress [Member]
Property, plant, and equipment, gross	27,494	27,381
Property, plant, and equipment, gross	$ 205,036	$ 169,551

Note 7 - Long-Term Debt and R39

Note 7 - Long-Term Debt and Revolving Line of Credit (Details Textual)	1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)Rate	Sep. 30, 2015USD ($)Rate	Dec. 31, 2014USD ($)
Term Loan Due June 25, 2020 [Member] | Payment Date First Year [Member]
Debt Instrument, Periodic Payment, Principal	$ 675,000	$ 675,000	$ 675,000
Term Loan Due June 25, 2020 [Member] | Payment Date Thereafter [Member]
Debt Instrument, Periodic Payment, Principal	$ 1,000,000	1,000,000	$ 1,000,000
Term Loan Due June 25, 2020 [Member]
Debt Instrument, Term	5 years
Debt Instrument, Face Amount	$ 47,300,000	47,300,000
Secured Debt	46,625,000	46,625,000
Delayed Draw Term Loan Due June 2020 [Member]
Delayed Draw Term Loan, Maximum Borrowing Capacity	$ 115,000,000	$ 115,000,000
Debt Instrument, Draw Period	2 years
Debt Instrument, Percent of Outstanding Balance Payable	1.50%	1.50%
Term Loan Due June 2020 [Member]
Secured Debt	$ 27,300,000	$ 27,300,000
Bridge Loan [Member]
Delayed Draw Term Loan, Maximum Borrowing Capacity	40,000,000	40,000,000
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	25,000,000	25,000,000
Line of Credit Facility Threshold, Borrowing Base to Determine Reduction in Amount Available under Credit Facility	25,000,000	25,000,000
Revolving Credit Facility for Purchase Construction and Upgrade of Assets [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000,000	$ 20,000,000
Minimum [Member]
Debt Instrument Covenant, Fixed Charge Coverage Ratio	1.2	1.2
Maximum [Member] | Debt Instrument Leverage Ratio through June 2017 [Member]
Debt Instrument, Leverage Ratio	4	4
Maximum [Member] | Debt Instrument Leverage Ratio on September 30, 2017 [Member]
Debt Instrument, Leverage Ratio	3.75	3.75
Maximum [Member] | Debt Instrument Leverage Ratio on December 31, 2017 [Member]
Debt Instrument, Leverage Ratio	3.5	3.5
Secured Debt	$ 46,625,000	$ 46,625,000	$ 36,362,000
Line of Credit Facility, Accordion Feature	$ 50,000,000	$ 50,000,000
Debt Instrument, Leverage Ratio | Rate	155.00%	155.00%

Note 7 - Interest Margin and Co

Note 7 - Interest Margin and Commitment Fee Payable (Details)	9 Months Ended
	Sep. 30, 2015
London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument Leverage Ratio Less than 1.00 [Member]
Interest Margin	1.25%
London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 1 but Less than 2 [Member]
Interest Margin	1.50%
London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 2 but Less than 3 [Member]
Interest Margin	1.75%
London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 3 but Less than 3.50 [Member]
Interest Margin	2.25%
London Interbank Offered Rate (LIBOR) [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 3.50 [Member]
Interest Margin	2.50%
Base Rate [Member] | Debt Instrument Leverage Ratio Less than 1.00 [Member]
Interest Margin	0.00%
Base Rate [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 1 but Less than 2 [Member]
Interest Margin	0.00%
Base Rate [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 2 but Less than 3 [Member]
Interest Margin	0.00%
Base Rate [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 3 but Less than 3.50 [Member]
Interest Margin	0.00%
Base Rate [Member] | Debt Instrument Leverage Ratio Greater than or Equal to 3.50 [Member]
Interest Margin	0.25%
Debt Instrument Leverage Ratio Less than 1.00 [Member]
Commitment Fee	0.15%
Debt Instrument Leverage Ratio Greater than or Equal to 1 but Less than 2 [Member]
Commitment Fee	0.20%
Debt Instrument Leverage Ratio Greater than or Equal to 2 but Less than 3 [Member]
Commitment Fee	0.25%
Debt Instrument Leverage Ratio Greater than or Equal to 3 but Less than 3.50 [Member]
Commitment Fee	0.30%
Debt Instrument Leverage Ratio Greater than or Equal to 3.50 [Member]
Commitment Fee	0.35%

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Revolving Credit Facility [Member]
Revolving line of credit, maturing on June 3, 2019		$ 7,712
Term Loan Due June 3, 2020 [Member]
Loan agreements		$ 28,650
Term Loan Due June 25, 2020 [Member]
Loan agreements	$ 46,625
Loan agreements	46,625	$ 36,362
Less current portion	3,025	2,700
Long-term debt, less current portion	$ 43,600	$ 33,662

Note 7 - Long-term Debt (Deta42

Note 7 - Long-term Debt (Details) (Parentheticals) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Term Loan Due June 3, 2020 [Member] | Payment Date First Two Years [Member]
Debt Instrument, Periodic Payment, Principal	$ 675,000	$ 675,000
Term Loan Due June 3, 2020 [Member] | Payment Date Thereafter [Member]
Debt Instrument, Periodic Payment, Principal	1,000,000	1,000,000
Term Loan Due June 25, 2020 [Member] | Payment Date Thereafter [Member]
Debt Instrument, Periodic Payment, Principal	1,000,000	1,000,000
Term Loan Due June 25, 2020 [Member] | Payment Date First Year [Member]
Debt Instrument, Periodic Payment, Principal	$ 675,000	$ 675,000

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Estimated Annual Effective Income Tax Rate			33.90%	32.40%
Effective Income Tax Rate Reconciliation, Percent	34.00%	32.60%	30.90%	32.40%

Note 9 - Earnings Per Share Bas

Note 9 - Earnings Per Share Basic and Diluted (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income - ($ thousands)	$ 4,742	$ 3,830	$ 9,856	$ 7,019
Less: distributed earnings allocable to participating securities	$ (1)	$ (2)	$ (2)	(6)
Less: undistributed earnings allocable to participating securities				1
Distributed and undistributed earnings allocable to common shareholders	$ 4,741	$ 3,828	$ 9,854	$ 7,014
Weighted average shares outstanding (in shares)	10,367,026	8,753,308	9,613,412	8,363,913
Effect of stock options (in shares)	58,459	70,629	59,549	78,144
Weighted average shares outstanding - assuming dilution (in shares)	10,425,485	8,823,937	9,672,961	8,442,057
Net income per common share:
Basic (in dollars per share)	$ 0.46	$ 0.44	$ 1.02	$ 0.84
Diluted (in dollars per share)	$ 0.45	$ 0.44	$ 1.02	$ 0.83
Stock options not considered above because they were anti-dilutive (in shares)	563,600	560,000	535,000	520,000

Note 10 - Stock Incentives (Det

Note 10 - Stock Incentives (Details Textual)	1 Months Ended				3 Months Ended				9 Months Ended		12 Months Ended
	Feb. 28, 2015shares	Apr. 30, 2014$ / sharesshares	Feb. 28, 2014shares	Feb. 28, 2013$ / sharesshares	Sep. 30, 2015USD ($)shares	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)shares	Dec. 31, 2013shares
Stock Options with Market-based Vesting Conditions [Member] | Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Tranches for Options Exercisable									4	4
Period for Which Entity's Share Price Closed at Specified Prices for Specified Consecutive Business Days									3 days	3 days
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period									10 years	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross									28,600	145,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period, Unvested										5 years
Stock Options with Market-based Vesting Conditions [Member]
Allocated Share-based Compensation Expense | $					$ 77,000	$ 224,000	$ 254,000	$ 427,000	$ 555,000	$ 1,264,000
Employee Stock Option [Member] | Chief Executive Officer [Member]
Period for Which Entity's Share Price Closed at Specified Prices for Specified Consecutive Business Days		3 days
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		400,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period, Unvested		5 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 30.25
Number of Options Vesting in Each Tranche		100,000
Employee Stock Option [Member]
Allocated Share-based Compensation Expense | $					78,000			428,000	$ 743,000	$ 1,571,000
Restricted Stock [Member] | Stock Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				16,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares				$ 21.695
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period									334	667	8,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	2,333		2,666
Allocated Share-based Compensation Expense | $					$ 8,000			$ 9,000	$ 34,000	$ 38,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		400,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					286,400				286,400

Note 10 - Temporal Details of T

Note 10 - Temporal Details of Time-based Vesting Conditions (Details) - Stock Options with Time-based Vesting Conditions [Member] - Board of Directors and Management [Member] - $ / shares	1 Months Ended
	May. 31, 2015	Jun. 30, 2014	May. 31, 2014
Number of Shares (in shares)	40,000	5,000	35,000
Exercise Price (in dollars per share)	$ 22.485	$ 30.09	$ 29.65
Grant Date Fair Value (in dollars per share)	$ 4.64	$ 7.67	$ 7.50
Risk-Free Interest Rate	2.13%	2.63%	2.62%
Estimated Volatility	40.00%	41.00%	41.00%
Dividend Yield	6.23%	4.65%	4.72%
Expected Life	5 years	5 years	5 years

Note 10 - Market-based Vesting

Note 10 - Market-based Vesting Schedule (Details) - Stock Options with Market-based Vesting Conditions [Member] - Minimum [Member] - Management [Member] - $ / shares	Sep. 30, 2015	Sep. 30, 2014
Vesting Share Price Equivalent One [Member]
Share Price	$ 29.56	$ 34.788
Vesting Share Price Equivalent Two [Member]
Share Price	36	42.35
Vesting Share Price Equivalent Three [Member]
Share Price	43.71	51.425
Vesting Share Price Equivalent Four [Member]
Share Price	$ 51.43	$ 60.50

Note 10 - Temporal Details of O

Note 10 - Temporal Details of Options Granted to Certain Members of Management (Details) - Management [Member] - Stock Options with Market-based Vesting Conditions [Member] - $ / shares	1 Months Ended
	Sep. 30, 2015	May. 31, 2014	Feb. 28, 2014	Jan. 31, 2014
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	7,150	1,250	25,000	10,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 25.24	$ 28.185	$ 30.88	$ 31.125
Grant Date Fair Value (in dollars per share)	$ 4.44	$ 5.06	$ 5.51	$ 5.64
Risk-Free Interest Rate	1.82%	2.03%	1.98%	1.98%
Estimated Volatility	34.00%	31.00%	31.00%	31.00%
Dividend Yield	5.20%	4.70%	4.60%	4.50%
Expected Life	5 years 73 days	5 years 131 days	5 years 62 days	5 years 54 days
Derived Service Period	146 days	259 days	127 days	113 days
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	7,150	1,250	25,000	10,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 25.24	$ 28.185	$ 30.88	$ 31.125
Grant Date Fair Value (in dollars per share)	$ 3.92	$ 4.74	$ 5.35	$ 5.46
Risk-Free Interest Rate	1.82%	2.03%	1.98%	1.98%
Estimated Volatility	34.00%	31.00%	31.00%	31.00%
Dividend Yield	5.20%	4.70%	4.60%	4.50%
Expected Life	5 years 186 days	5 years 284 days	5 years 219 days	5 years 211 days
Derived Service Period	1 year 7 days	1 year 204 days	1 year 69 days	1 year 54 days
Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	7,150	1,250	25,000	10,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 25.24	$ 28.185	$ 30.88	$ 31.125
Grant Date Fair Value (in dollars per share)	$ 3.11	$ 4.02	$ 4.88	$ 5.03
Risk-Free Interest Rate	1.82%	2.03%	1.98%	1.98%
Estimated Volatility	34.00%	31.00%	31.00%	31.00%
Dividend Yield	5.20%	4.70%	4.60%	4.50%
Expected Life	5 years 281 days	6 years 51 days	5 years 361 days	5 years 354 days
Derived Service Period	1 year 197 days	2 years 105 days	1 year 357 days	1 year 343 days
Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	7,150	1,250	25,000	10,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 25.24	$ 28.185	$ 30.88	$ 31.125
Grant Date Fair Value (in dollars per share)	$ 2.36	$ 3.29	$ 4.15	$ 4.27
Risk-Free Interest Rate	1.82%	2.03%	1.98%	1.98%
Estimated Volatility	34.00%	31.00%	31.00%	31.00%
Dividend Yield	5.20%	4.70%	4.60%	4.50%
Expected Life	5 years 339 days	6 years 142 days	6 years 98 days	6 years 91 days
Derived Service Period	1 year 317 days	2 years 288 days	2 years 197 days	2 years 182 days

Note 10 - Temporal Vesting of E

Note 10 - Temporal Vesting of Exercisable Options Granted to Mr. Schoen (Details) - Employee Stock Option [Member] - Chief Executive Officer [Member]	1 Months Ended
	Apr. 30, 2014shares
Vesting Share Price Equivalent One [Member]
Number of Options Vesting in Each Tranche	100,000
Vesting Share Price Equivalent Two [Member]
Number of Options Vesting in Each Tranche	100,000
Vesting Share Price Equivalent Three [Member]
Number of Options Vesting in Each Tranche	100,000
Vesting Share Price Equivalent Four [Member]
Number of Options Vesting in Each Tranche	100,000
Number of Options Vesting in Each Tranche	100,000

Note 10 - Temporal Vesting of50

Note 10 - Temporal Vesting of Exercisable Options Granted to Mr. Schoen (Details) (Parentheticals) - Chief Executive Officer [Member] - Employee Stock Option [Member]	1 Months Ended
	Apr. 30, 2014$ / shares
Vesting Share Price Equivalent One [Member] | Minimum [Member]
Share Price	$ 34.788
Vesting Share Price Equivalent One [Member]
Percentage of the purchase price for the option	115.00%
Vesting Share Price Equivalent Two [Member] | Minimum [Member]
Share Price	$ 42.35
Vesting Share Price Equivalent Two [Member]
Percentage of the purchase price for the option	140.00%
Vesting Share Price Equivalent Three [Member] | Minimum [Member]
Share Price	$ 51.425
Vesting Share Price Equivalent Three [Member]
Percentage of the purchase price for the option	170.00%
Vesting Share Price Equivalent Four [Member] | Minimum [Member]
Share Price	$ 60.50
Vesting Share Price Equivalent Four [Member]
Percentage of the purchase price for the option	200.00%

Note 10 - Summary of Options Gr

Note 10 - Summary of Options Granted to Mr. Schoen (Details) - Stock Options with Market-based Vesting Conditions [Member] - Chief Executive Officer [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 30.25
Grant Date Fair Value (in dollars per share)	$ 5.18
Risk-Free Interest Rate	2.10%
Estimated Volatility	30.00%
Dividend Yield	4.60%
Expected Life	4 years 361 days
Derived Service Period	146 days
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 30.25
Grant Date Fair Value (in dollars per share)	$ 5.04
Risk-Free Interest Rate	2.10%
Estimated Volatility	30.00%
Dividend Yield	4.60%
Expected Life	5 years 153 days
Derived Service Period	1 year 91 days
Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 30.25
Grant Date Fair Value (in dollars per share)	$ 4.31
Risk-Free Interest Rate	2.10%
Estimated Volatility	30.00%
Dividend Yield	4.60%
Expected Life	5 years 288 days
Derived Service Period	2 years
Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 30.25
Grant Date Fair Value (in dollars per share)	$ 3.50
Risk-Free Interest Rate	2.10%
Estimated Volatility	30.00%
Dividend Yield	4.60%
Expected Life	6 years 14 days
Derived Service Period	2 years 182 days

Note 10 - Temporal Details of E

Note 10 - Temporal Details of Expenses Related to All Options Granted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock Options with Time-based Vesting Conditions [Member]
Allocated Share-based Compensation Expense	$ 1,000	$ 1,000	$ 188,000	$ 307,000
Stock Options with Market-based Vesting Conditions [Member]
Allocated Share-based Compensation Expense	77,000	427,000	555,000	1,264,000
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 78,000	$ 428,000	$ 743,000	$ 1,571,000

Note 10 - Temporal Details of C

Note 10 - Temporal Details of Compensation Cost Expected to be Expensed (Details) - Stock Options with Market-based Vesting Conditions [Member] - USD ($)	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Award, Tranche One [Member] | Scenario, Forecast [Member]
Compensation expense recognized	$ 26,000					$ 5,000	$ 26,000
Share-based Compensation Award, Tranche One [Member]
Compensation expense recognized
Share-based Compensation Award, Tranche Two [Member] | Scenario, Forecast [Member]
Compensation expense recognized	10,000					19,000	249,000
Share-based Compensation Award, Tranche Two [Member]
Compensation expense recognized		$ 1,000	$ 104,000	$ 134,000
Share-based Compensation Award, Tranche Three [Member] | Scenario, Forecast [Member]
Compensation expense recognized	73,000				$ 3,000	73,000	265,000
Share-based Compensation Award, Tranche Three [Member]
Compensation expense recognized		47,000	72,000	73,000
Share-based Compensation Award, Tranche Four [Member] | Scenario, Forecast [Member]
Compensation expense recognized	48,000				5,000	138,000	173,000
Share-based Compensation Award, Tranche Four [Member]
Compensation expense recognized		30,000	48,000	47,000
Scenario, Forecast [Member]
Compensation expense recognized	$ 157,000				$ 8,000	$ 235,000	$ 713,000
Compensation expense recognized		$ 77,000	$ 224,000	$ 254,000

Note 11 - Major Customers and54

Note 11 - Major Customers and Concentration of Credit Risk (Details Textual) - Accounts Receivable [Member] - Credit Concentration Risk [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Additional Parent Roll Customer [Member]
Concentration Risk, Number of Customers	1
Concentration Risk, Percentage	15.00%
Concentration Risk, Percentage	49.00%	52.00%

Note 11 - Revenue from Parent R

Note 11 - Revenue from Parent Rolls and Converted Products (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Converted Product [Member]
Net sales	$ 43,675	$ 43,157	$ 120,877	$ 97,042
Parent Rolls [Member]
Net sales	3,157	1,272	5,665	4,342
Net sales	$ 46,832	$ 44,429	$ 126,542	$ 101,384

Note 11 - Revenue from Signific

Note 11 - Revenue from Significant Customers (Details) - Sales Revenue, Goods, Net [Member] - Customer Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Converted Product Customer 1 [Member]
Concentration Risk, Percentage	29.00%	35.00%	33.00%	42.00%
Converted Product Customer 2 [Member]
Concentration Risk, Percentage	15.00%	13.00%	12.00%	10.00%
Converted Product Customer 3 [Member]
Concentration Risk, Percentage	15.00%	13.00%	15.00%	11.00%
Concentration Risk, Percentage	59.00%	61.00%	60.00%	63.00%

Note 11 - Accounts Receivable f

Note 11 - Accounts Receivable for Significant Customers (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts Receivable [Member] | Converted Product Customer 1 [Member] | Credit Concentration Risk [Member]
Concentration risk amount	$ 2,162	$ 2,634
Concentration Risk, Percentage	17.00%	28.00%
Accounts Receivable [Member] | Converted Product Customer 2 [Member] | Credit Concentration Risk [Member]
Concentration risk amount	$ 2,203	$ 1,410
Concentration Risk, Percentage	17.00%	15.00%
Accounts Receivable [Member] | Converted Product Customer 3 [Member] | Credit Concentration Risk [Member]
Concentration risk amount	$ 1,859	$ 813
Concentration Risk, Percentage	15.00%	9.00%
Accounts Receivable [Member] | Credit Concentration Risk [Member]
Concentration risk amount	$ 6,224	$ 4,857
Concentration Risk, Percentage	49.00%	52.00%
Concentration risk amount	$ 12,763	$ 9,109

Note 12 - Follow-On Stock Off58

Note 12 - Follow-On Stock Offering (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	1,500,000
Share Price	$ 23
Over-Allotment Option [Member] | Underwriters [Member]
Over Allotment Option, Shares	225,000
Over Allotment Option, Expiration Date	30 days
Proceeds from Issuance of Common Stock	$ 32,200	$ 32,155

Note 13 - ODFA Pooled Financi59

Note 13 - ODFA Pooled Financing (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revolving Fund [Member] | Oklahoma Development Finance Authority [Member]
Note Receivable Financing Agreement, Maximum Borrowing Capacity	$ 3,500,000		$ 3,500,000		$ 3,500,000
State Witholding Taxes Returned	$ 3,500,000
Financing Receivable, Gross		$ 157,000		$ 157,000
Other Nonoperating Income (Expense)		169,000	56,000	514,000	56,000
Other Nonoperating Income (Expense)		$ 169,000	$ (147,000)	$ 507,000	$ (141,000)

Note 14 - Registration of Sec60

Note 14 - Registration of Securities (Details Textual)	Sep. 16, 2015USD ($)
Shelf Registration Maximum Potential Consideration	$ 50,000,000

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual)	Oct. 21, 2015$ / shares
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.35