Orchids Paper Products 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
Document Information [Line Items]
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)		10,296,891
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 8,561	$ 4,361
Accounts receivable, net	12,197	10,509
Receivables from related party	1,178	1,325
Inventories, net	20,449	13,501
Income taxes receivable	3,000	5,628
Prepaid expenses	3,889	1,136
Other current assets	372	1,853
Total current assets	49,646	38,313
Property, Plant and Equipment	306,604	232,925
Accumulated depreciation	(68,183)	(59,547)
Net property, plant and equipment	238,421	173,378
Restricted cash	1,335	12,005
VAT receivable	1,742	1,751
Intangible assets, net of accumulated amortization of $3,246 in 2016 and $2,260 in 2015	14,744	15,730
Goodwill	7,560	7,560
Total assets	313,448	248,737
Current liabilities:
Accounts payable	10,358	7,211
Accounts payable to related party	4,057	3,887
Accrued liabilities	2,155	3,880
Less current portion	5,462	3,882
Total current liabilities	22,032	18,860
Long-term debt, less current portion	124,737	70,357
Other long-term liabilities	5,152	5,098
Deferred income taxes	27,263	20,639
Stockholders' equity:
Common stock, $.001 par value, 25,000,000 shares authorized, 10,296,891 and 10,268,891 shares issued and outstanding in 2016 and 2015, respectively	10	10
Additional paid-in capital	98,922	97,834
Retained earnings	35,332	35,939
Total stockholders' equity	134,264	133,783
Total liabilities and stockholders' equity	$ 313,448	$ 248,737

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 155	$ 155
Accumulated amortization, intangible assets	$ 3,246	$ 2,260
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)	10,296,891	10,268,891
Common Stock, Shares Outstanding (in shares)	10,296,891	10,268,891

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net sales	$ 39,628	$ 46,832	$ 126,785	$ 126,542
Cost of sales	33,413	36,987	102,316	104,192
Gross profit	6,215	9,845	24,469	22,350
Selling, general and administrative expenses	2,557	2,437	7,783	7,174
Intangibles amortization	233	376	986	1,130
Operating income	3,425	7,032	15,700	14,046
Interest expense	639	11	1,187	289
Other (income) expense, net	(162)	(169)	(527)	(507)
Income before income taxes	2,948	7,190	15,040	14,264
Provision for (benefit from) income taxes:
Current	(3,670)	2,708	(1,772)	5,230
Deferred	4,405	(260)	6,622	(822)
Total provision for (benefit from) income taxes	735	2,448	4,850	4,408
Net income	$ 2,213	$ 4,742	$ 10,190	$ 9,856
Net income per common share:
Basic (in dollars per share)	$ 0.21	$ 0.46	$ 0.99	$ 1.02
Diluted (in dollars per share)	$ 0.21	$ 0.45	$ 0.98	$ 1.02
Shares used in calculating net income per common share:
Weighted average shares outstanding (in shares)	10,296,891	10,266,891	10,282,841	9,613,412
Diluted (in shares)	10,367,660	10,325,350	10,351,415	9,672,961
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 ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Cash Flows From Operating Activities
Net income - ($ thousands)	$ 2,213,000	$ 4,742,000	$ 10,190,000	$ 9,856,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,220,000	2,979,000	9,865,000	8,255,000
Deferred income taxes	4,407,000	(260,000)	6,624,000	(823,000)
Stock compensation expense	69,000	87,000	604,000	777,000
Gain on disposal of property, plant and equipment	(9,000)		(18,000)
Changes in cash due to changes in operating assets and liabilities:
Accounts receivable	(3,335,000)	(1,065,000)	(1,541,000)	(3,600,000)
Inventories	(228,000)	1,053,000	(6,948,000)	(2,397,000)
Income taxes receivable	2,628,000		2,628,000	634,000
Prepaid expenses	(2,119,000)	(678,000)	(2,753,000)	(341,000)
Other assets	444,000	587,000	1,490,000	741,000
Accounts payable	791,000	(634,000)	1,843,000	(1,840,000)
Accrued liabilities	(4,231,000)	1,438,000	(1,725,000)	1,921,000
Net cash provided by operating activities	3,850,000	8,249,000	20,259,000	13,183,000
Cash Flows From Investing Activities
Purchases of property, plant and equipment	(28,348,000)	(11,223,000)	(74,115,000)	(35,485,000)
Sale of property, plant and equipment	12,000		21,000
Decrease in restricted cash	3,560,000		10,670,000
Net cash used in investing activities	(24,776,000)	(11,223,000)	(63,424,000)	(35,485,000)
Cash Flows From Financing Activities
Proceeds from economic incentive			1,900,000
Borrowings under long-term debt				20,000,000
Principal payments on long-term debt	(1,132,000)	(675,000)	(2,745,000)	(2,025,000)
Decrease in bank overdrafts				(1,706,000)
Net borrowings (repayments) on revolving credit lines	27,987,000		58,627,000	(7,712,000)
Dividends paid to stockholders	(3,604,000)	(3,594,000)	(10,797,000)	(10,254,000)
Net proceeds from follow on stock offering				32,155,000
Proceeds from the exercise of stock options			314,000	210,000
Excess tax benefit (deficit) of stock options exercised		(1,000)	171,000	(6,000)
Deferred debt issuance costs		(8,000)	(105,000)	(831,000)
Net cash provided by (used in) financing activities	23,251,000	(4,278,000)	47,365,000	29,831,000
Net increase (decrease) in cash	2,325,000	(7,252,000)	4,200,000	7,529,000
Cash, beginning	6,236,000	15,802,000	4,361,000	1,021,000
Cash, ending	8,561,000	8,550,000	8,561,000	8,550,000
Supplemental Disclosure:
Interest paid	827,000	194,000	1,971,000	490,000
Income taxes paid	6,000	2,936,000	6,000	4,470,000
Tax benefits realized from stock options exercised			211,000	23,000
Capital expenditures invoiced but not yet paid			$ 1,464,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 — Basis of Presentation and Significant Accounting Policies Orchids Paper Products Company and its subsidiaries (collectively, “Orchids” or the “Company”) produce bulk tissue paper, known as parent rolls, and convert 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”). In April 2015, the Company announced the construction of a new manufacturing facility in Barnwell, South Carolina. In conjunction with this project, the Company established a wholly-owned subsidiary: Orchids Paper Products Company of South Carolina. Furthermore, in connection with a New Market Tax Credit (“NMTC”) transaction in December 2015 (see Note 12), the Company created Orchids Lessor SC, LLC, another wholly-owned subsidiary. 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, 2015, filed with the SEC on March 7, 2016. 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 (see Note 15). These reclassifications did not affect previously reported amounts of net income. Significant Accounting Policies Business Interruption Insurance In June 2016, the Company received $1.1 million of proceeds under a business interruption insurance policy for an incident that occurred in its Oklahoma converting operation in the fourth quarter of 2015. This amount is recorded as a reduction of cost of sales in the accompanying consolidated statements of income in the nine-month period ended September 30, 2016.

Note 2 - Fabrica Transaction

Note 2 - Fabrica Transaction	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 2 — Fabrica Transaction 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 entered into the following transactions with Fabrica during the three-month and nine-month periods ended September 30: Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Products purchased under the Supply Agreement $ 8,003 $ 9,472 $ 26,447 $ 29,025 Amounts billed to Fabrica under the Equipment Lease Agreement $ 518 $ 666 $ 1,242 $ 1,590 Parent rolls purchased by Fabrica $ - $ 3,094 $ 867 $ 4,464 Intangibles The carrying value of intangible assets, net of amortization, at September 30, 2016 was $14.7 million. $233,000 of amortization was recognized in third quarter 2016. The non-compete agreement with Fabrica, which was valued at $1,150,000 had a two-year term with quarterly amortization of $143,000 and expired on June 30, 2016. Goodwill There were no changes to the $7.6 million goodwill recognized from the Fabrica Transaction during the three-month and nine-month periods ended September 30, 2016 and 2015. No goodwill impairment has been recorded as of September 30, 2016.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
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 (before deducting unamortized debt issuance costs) of $131,462,000 and $75,581,000 at September 30, 2016 and December 31, 2015, 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, 2016
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 2016 - December 2016 91,900 $ 4.42 $ 0.07 January 2017 - December 2017 467,505 $ 4.06 $ - Purchases under the gas contract were $0.4 and $0.5 million for the three-month periods ended September 30, 2016 and 2015, respectively, and $1.2 and $1.3 million for each of the nine-month periods ended September 30, 2016 and 2015, 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 an integrated paper converting facility in Barnwell, South Carolina, which has a total estimated cost of $150 million. As of September 30, 2016, obligations under purchase orders related to construction of this facility totaled $20.1 million.

Note 5 - Inventories

Note 5 - Inventories	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 5 — Inventories Inventories at September 30, 2016 and December 31, 2015 were as follows: September 30, December 31, 2016 2015 (in thousands) Raw materials $ 6,084 $ 4,467 Bulk paper rolls 3,974 3,789 Converted finished goods 10,556 5,386 Inventory valuation reserve (165 ) (141 ) Total Inventories $ 20,449 $ 13,501

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 6 — Property, Plant and Equipment Property, plant and equipment at September 30, 2016 and December 31, 2015 was: September 30, December 31, 2016 2015 (in thousands) Land $ 1,316 $ 1,316 Buildings and improvements 37,146 24,321 Machinery and equipment 172,302 141,811 Vehicles 1,801 1,796 Nondepreciable machinery and equipment (parts and spares) 11,546 10,250 Construction-in-process 82,493 53,431 $ 306,604 $ 232,925 In January 2016, the Company received $1.9 million of proceeds from an economic incentive related to the construction of the South Carolina facility. While there currently are no US GAAP pronouncements relating to the accounting treatment of government grants, the Company recorded these proceeds as a reduction in the property, plant and equipment related to this project in accordance with non-authoritative guidance issued by the American Institute of Certified Public Accountants, which recommended that grants related to developing property be recognized over the useful lives of the assets by recognizing receipt as the related asset is depreciated. Interest expense for three months ended September 30, 2016 and 2015 excludes $348,000 and $299,000, respectively, of interest capitalized on significant projects during the quarter. Interest expense for the nine months ended September 30, 2016 and 2015 excludes $1.2 million and $423,000, respectively, of interest capitalized on significant projects during the period.

Note 7 - Long-term Debt and Rev

Note 7 - Long-term Debt and Revolving Line of Credit	9 Months Ended
	Sep. 30, 2016
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. In December 2015, in connection with the NMTC transaction (see Note 12), the maximum borrowing capacity under the delayed draw term loan was reduced from $115.0 million to $99.6 million. 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, 2016 was approximately 3.71. The Company’s weighted-average interest rate was 2.53% at September 30, 2016. Additionally, in connection with the NMTC transaction discussed in Note 12, the Company entered into an $11.1 million term loan with U.S. Bank. This loan bears interest at a fixed rate of 4.4% and matures on December 29, 2022. The loan requires quarterly payments of principal and interest of approximately $255,000, beginning on March 29, 2016, with a balloon payment due on the maturity date. Long-term debt at September 30, 2016 and December 31, 2015 consists of: September 30, December 31, 2016 2015 (in thousands) Revolving line of credit, maturing on June 25, 2020 $ 16,447 $ - Delayed draw term loan, maturing on June 25, 2020 60,702 18,522 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 43,600 45,950 Term Loan, maturing on December 29, 2022, due in quarterly installments of $255,006, including interest 10,713 11,109 Less: unamortized debt issuance costs (1,263 ) (1,342 ) Total debt $ 130,199 $ 74,239 Less current portion 5,462 3,882 Total long term debt $ 124,737 $ 70,357 Unamortized debt issuance costs consist of: September 30, December 31, 2016 2015 (in thousands) Revolving line of credit $ 234 $ 285 Delayed draw term loan 149 344 Term Loan, maturing on June 25, 2020 284 182 Term Loan, maturing on December 29, 2022 596 531 $ 1,263 $ 1,342 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. As of September 30, 2016, the Company’s borrowing base was $19.3 million, including $9.6 million of eligible accounts receivable and $9.7 million of eligible inventory. Obligations under the Credit Agreement and the NMTC loan 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, 2016.

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 8 — Income Taxes As of September 30, 2016, our annual estimated effective income tax rate is 32.25%. The annual estimated effective tax rate for 2016 differs from the statutory rate due primarily due to U.S. Indian employment credit, the foreign tax credit, and state investment tax credits. As of September 30, 2015, our annual estimated effective income tax rate was 33.9%. The annual estimated effective tax rate for 2015 differs from the statutory rate primarily due to U.S. manufacturing tax credits and foreign and state income taxes. Our actual effective income tax rate was 24.9% and 34.0% for the three-month periods ended September 30, 2016 and 2015, respectively, and 32.2% and 30.9% for the nine-month periods ended September 30, 2016 and 2015, respectively. During the first quarter of 2016, we elected to early adopt ASU 2015-17, “Income Taxes: Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”) on a retrospective basis. ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. As such, we reclassified $1.9 million and $1.3 million of current deferred tax assets to noncurrent (netted within noncurrent liabilities) on the consolidated balance sheets as of September 30, 2016 and December 31, 2015. The adoption of ASU 2015-17 did not affect our consolidated statements of income.

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	9 Months Ended
	Sep. 30, 2016
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, 2016 and 2015 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net income - ($ thousands) $ 2,213 $ 4,742 $ 10,190 $ 9,856 Less: distributed earnings allocable to participating securities - (1 ) - (2 ) Less: undistributed earnings allocable to participating securities - - - - Distributed and undistributed earnings allocable to common shareholders $ 2,213 $ 4,741 $ 10,190 $ 9,854 Weighted average shares outstanding 10,296,891 10,266,891 10,282,841 9,613,412 Effect of stock options 70,769 58,459 68,574 59,549 Weighted average shares outstanding - assuming dilution 10,367,660 10,325,350 10,351,415 9,672,961 Net income per common share: Basic $ 0.21 $ 0.46 $ 0.99 $ 1.02 Diluted $ 0.21 $ 0.45 $ 0.98 $ 1.02 Stock options not considered above because they were anti-dilutive 511,250 563,600 516,250 535,000

Note 10 - Stock Incentives

Note 10 - Stock Incentives	9 Months Ended
	Sep. 30, 2016
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, 2016, there were 164,200 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-month periods ended September 30, 2015 and 2016. Grant Number Exercise Grant Date Risk-Free Estimated Dividend Expected Date of Shares Price Fair Value Interest Rate Volatility Yield Life (Years) May-15 40,000 $ 22.485 $4.64 2.13% 40% 6.23 % 5 January-16 5,000 $ 27.77 $6.56 2.00% 40% 5.04 % 5 May-16 40,000 $ 31.33 $7.57 1.74% 40% 4.47 % 5 September-16 20,000 $ 28.48 $4.28 - 4.83 1.21 - 1.50% 29 - 31% 4.92 % 5 - 7 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 There were 0 and 28,600 options with market-based vesting conditions granted during the nine-month periods ended September 30, 2016 and 2015, respectively. During the nine months ended September 30, 2016, 22,500 options with market-based vesting conditions vested when the Company’s stock price closed above $34.788 per share for three consecutive business days. Additionally, 20,550 options with market-based vesting conditions were forfeited when three employees left the Company. 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 There were no stock options granted outside of the 2014 Plan during the nine-month periods ended September 30, 2016 or 2015. During the nine months ended September 30, 2016, 100,000 options with market-based vesting conditions vested when the Company’s stock price closed above $34.788 per share for three consecutive business days. Total Option Expense The Company recognized the following expenses related to all options granted under the 2005 Plan, the 2014 Plan and outside of the 2014 Plan: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Time-Based Vesting Options $ 47,000 $ 1,000 $ 409,000 $ 188,000 Market-Based Vesting Options 22,000 77,000 191,000 555,000 Total compensation expense related to stock options $ 69,000 $ 78,000 $ 600,000 $ 743,000 Total compensation expense related to stock options is included in selling, general and administrative expense. Future Expected Market-Based Stock Option Expense The grant of options that vest based on a market condition have had a material effect and will have a lesser effect on the Company’s results of operations in 2016. 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. 2016 2016 2017 Q1 Q2 Q3 Q4 Total Total (in thousands) Tranche 1 $ - $ - $ - $ - $ - $ - Tranche 2 6 7 4 - 17 - Tranche 3 60 4 3 3 70 3 Tranche 4 47 45 16 2 110 4 Total expense $ 113 $ 56 $ 23 $ 5 $ 197 $ 7 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. The second third of unforfeited shares, or 2,333 shares, vested in February 2015 and the final third of unforfeited shares, or 2,000 shares, vested in February 2016. 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 $0 and $8,000 for the three-month periods ended September 30, 2016 and 2015, respectively, and $4,000 and $34,000 for the nine-month periods ended September 30, 2016 and 2015, respectively, related to shares of restricted stock granted. Such expense is included in selling, general and administrative expense.

Note 11 - Major Customers and C

Note 11 - Major Customers and Concentration of Credit Risk	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 11 — Major Customers and Concentration of Credit Risk The Company sells its paper products in the form of parent rolls and converted products. Revenues from converted product sales and parent roll sales in the three-month and nine-month periods ended September 30, 2016 and 2015 were: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Converted product net sales $ 38,284 $ 43,675 $ 122,867 $ 120,877 Parent roll net sales 1,344 3,157 3,918 5,665 Net sales $ 39,628 $ 46,832 $ 126,785 $ 126,542 Credit risk for the Company in the three-month and nine-month periods ended September 30, 2016 and 2015 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, 2016 2015 2016 2015 Converted product customer 1 34 % 29 % 35 % 33 % Converted product customer 2 15 % 15 % 14 % 12 % Converted product customer 3 6 % 15 % 9 % 15 % Total percent of net sales 55 % 59 % 58 % 60 % No additional customers accounted for more than 10% of sales during the three-month or nine-month periods ended September 30, 2016 and 2015. At September 30, 2016 and December 31, 2015, the significant customers accounted for the following amounts of the Company’s accounts receivable (in thousands): September 30, December 31, 2016 2015 Converted product customer 1 $ 4,971 41 % $ 3,434 32 % Converted product customer 2 2,079 17 % 931 9 % Converted product customer 3 101 1 % 2,071 19 % Total of accounts receivable $ 7,151 59 % $ 6,436 60 % At September 30, 2016 and December 31, 2015, no additional customers accounted for more than 10% of the Company’s accounts receivable.

Note 12 - New Market Tax Credit

Note 12 - New Market Tax Credit	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
New Market Tax Credit Disclosure [Text Block]	Note 12 — New Market Tax Credit In December 2015, the Company received approximately $5.1 million in net proceeds from financing agreements related to capital expenditures at its Barnwell, South Carolina facility. This financing arrangement was structured with a third party financial institution (the “NMTC Investor”) associated with U.S. Bank, an investment fund, and two community development entities (the “CDEs”) majority owned by the investment fund. This transaction was designed to qualify under the federal New Market Tax Credit (“NMTC”) program, pursuant to Section 45D of the Internal Revenue Code of 1986, as amended. Through this transaction, the Company has secured low interest financing and the potential for future debt forgiveness related to the South Carolina facility. Upon closing of the NMTC transaction, the Company provided an aggregate of approximately $11.1 million, which was borrowed from U.S. Bank, to the investment fund, in the form of a loan receivable, with a term of 25 years, bearing an interest rate of 1.0% per annum. This $11.1 million in proceeds plus $5.1 million of net capital from the NMTC Investor were contributed to and used by the CDEs to make loans in the aggregate of $16.2 million to a subsidiary of the Company, Orchids Lessor SC, LLC (“Orchids Lessor”). These loans bear interest at a fixed rate of 1.275%. Orchids Lessor is using the loan proceeds to partially fund $18.0 million of the Company’s capital assets associated with the Barnwell facility. These capital assets will serve as collateral to the financing arrangement. This transaction also includes a put/call feature whereby, at the end of a seven-year compliance period, we may be obligated or entitled to repurchase the NMTC Investor’s interest in the investment fund. The value attributable to the put price is nominal. Consequently, if exercised, the put could result in the forgiveness of the NMTC Investor’s interest in the investment fund, and result in a net non-operating gain of up to $5.1 million. The call price will be valued at the net present value of the cash flows of the lease inherent in the transaction. The NMTC Investor is subject to 100% recapture of the New Market Tax Credits it receives for a period of seven years as provided in the Internal Revenue Code and applicable U.S. Treasury regulations. The Company is required to be in compliance with various regulations and contractual provisions that apply to the New Market Tax Credit arrangement. Noncompliance with applicable requirements could result in the NMTC Investor’s projected tax benefits not being realized and, therefore, require the Company to indemnify the NMTC Investor for any loss or recapture of New Market Tax Credits related to the financing until such time as the recapture provisions have expired under the applicable statute of limitations. The Company does not anticipate any credit recapture will be required in connection with this financing arrangement. At September 30, 2016 and December 31, 2015, the NMTC Investor’s interest of $5.1 million is recorded in other long-term liabilities on the consolidated balance sheet, while the outstanding balance of the amount borrowed from U.S. Bank to loan to the investment fund of $10.7 and $11.1 million, respectively, is recorded in long-term debt, net of the current portion. Unspent proceeds from the arrangement of approximately $1.3 million and $12.0 million at September 30, 2016 and December 31, 2015, respectively, are obligated for funding the specified capital assets at the Barnwell facility and are included in restricted cash.

Note 13 - Follow-on Stock Offer

Note 13 - Follow-on Stock Offering	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Follow on Stock Offering [Text Block]	Note 13 – 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 14 - ODFA Pooled Financing

Note 14 - ODFA Pooled Financing	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Financing Agreements with State Authorities Disclosure [Text Block]	Note 14 – 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, 2016 and December 31, 2015, the Company had a note receivable of $372,000 and $328,000, respectively, related to amounts due under the ODFA pooled financing agreement. The Company recognized $153,000 and $169,000 of other income in the consolidated statements of income for the three-month periods ended September 30, 2016 and 2015, respectively, and $500,000 and $514,000 of other income in the consolidated statement of income for the nine-month periods ended September 30, 2016 and 2015, respectively, related to this agreement. From September 2014, the Company recognized a total of $1,398,000 of other income through September 30, 2016.

Note 15 - New and Recently Adop

Note 15 - New and Recently Adopted Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 15 — New and Recently Adopted Accounting Pronouncements 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. 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 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. ASU 2015-03 became effective for the Company on January 1, 2016. As such, we reclassified $1.3 million of unamortized debt issuance costs, including costs associated with our revolving lines of credit, as of September 30, 2016 and December 31, 2015, to offset long-term debt in the consolidated balance sheets. Adoption of ASU 2015-03 and ASU 2015-15 did not affect our consolidated statements of income. 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 became effective for the Company on January 1, 2016. Adoption of ASU 2015-05 did not have a material effect on our consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update 2015-17, “Income Taxes: Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for public companies for annual and interim periods beginning after December 15, 2016. During the first quarter of 2016, we elected to early adopt ASU 2015-17 on a retrospective basis. As such, we reclassified $1.9 million and $1.3 million of current deferred tax assets to noncurrent (netted within noncurrent liabilities) on the consolidated balance sheets as of September 30, 2016 and December 31, 2015. The adoption of ASU 2015-17 did not affect our consolidated statements of income. 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. In March 2016, the FASB issued Accounting Standards Update 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations” (“ASU 2016-08”). ASU 2016-08 clarifies implementation guidance on principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued Accounting Standards Update 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing” (“ASU 2016-10”). In May 2016, the FASB issued Accounting Standards Update 2016-12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). ASU 2016-10 and ASU 2016-12 do not change the guidance under ASU 2014-09, but clarify certain aspects of this guidance. In May 2016, the FASB issued Accounting Standards Update 2016-11, “Revenue Recognition and Derivatives and Hedging” (“ASU 2016-11”). ASU 2016-11 rescinds certain SEC accounting guidance that is inconsistent with guidance in ASU 2014-09. Management is currently assessing the impact these ASUs will have on the Company, but they are not expected to have a material effect on the Company’s financial position, results of operations or 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 January 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments, specifically equity investments and financial instruments measured at amortized cost. ASU 2016-01 is effective for public companies for annual and interim periods beginning after December 15, 2017. Management is currently assessing the impact ASU 2016-01 will have, if any, on the Company’s financial position, results of operations and cash flows. In February 2016, the FASB issued Accounting Standards Update 2016-02, “Leases” (“ASU 2016-02”). ASU 2016-02 requires lessees to recognize lease assets and lease liabilities on the balance sheet but did not make significant changes to the effects of lessee accounting on the income statement or statement of cash flows. ASU 2016-02 is effective for public companies for annual and interim periods beginning after December 15, 2018. Management is currently assessing the impact ASU 2016-02 will have on the Company’s financial position. In March 2016, the FASB issued Accounting Standards Update 2016-09, “Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 requires, among other things, that excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement rather than as additional paid-in capital, changes the classification of excess tax benefits from a financing activity to an operating activity in the statement of cash flows, and allows forfeitures to be accounted for when they occur rather than estimated. ASU 2016-09 is effective for public companies for interim and annual periods beginning after December 15, 2016. Management is currently assessing the impact ASU 2016-09 will have on the Company’s financial position, results of operations and cash flows. In June 2016, the FASB issued Accounting Standards Update 2016-13, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-113 is effective for public companies for interim and annual periods beginning after December 15, 2019. Management is currently assessing the impact ASU 2016-13 will have on the Company, but it is not expected to have a material impact on the Company’s financial position, results of operations and cash flows. In August 2016, the FASB issued Accounting Standards Update 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable. Management is currently assessing the impact ASU 2016-15 will have on the Company, but it is not expected to have a material impact on the Company’s cash flows. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	Note 16 — Subsequent Events On October 26, 2016, 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 21, 2016 to stockholders of record at the close of business on November 7, 2016.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Business Interruption Insurance [Policy Text Block]	Business Interruption Insurance In June 2016, the Company received $1.1 million of proceeds under a business interruption insurance policy for an incident that occurred in its Oklahoma converting operation in the fourth quarter of 2015. This amount is recorded as a reduction of cost of sales in the accompanying consolidated statements of income in the nine-month period ended September 30, 2016.
New Accounting Pronouncements, Policy [Policy Text Block]	Note 15 — New and Recently Adopted Accounting Pronouncements 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. 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 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. ASU 2015-03 became effective for the Company on January 1, 2016. As such, we reclassified $1.3 million of unamortized debt issuance costs, including costs associated with our revolving lines of credit, as of September 30, 2016 and December 31, 2015, to offset long-term debt in the consolidated balance sheets. Adoption of ASU 2015-03 and ASU 2015-15 did not affect our consolidated statements of income. 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 became effective for the Company on January 1, 2016. Adoption of ASU 2015-05 did not have a material effect on our consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update 2015-17, “Income Taxes: Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for public companies for annual and interim periods beginning after December 15, 2016. During the first quarter of 2016, we elected to early adopt ASU 2015-17 on a retrospective basis. As such, we reclassified $1.9 million and $1.3 million of current deferred tax assets to noncurrent (netted within noncurrent liabilities) on the consolidated balance sheets as of September 30, 2016 and December 31, 2015. The adoption of ASU 2015-17 did not affect our consolidated statements of income. 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. In March 2016, the FASB issued Accounting Standards Update 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations” (“ASU 2016-08”). ASU 2016-08 clarifies implementation guidance on principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued Accounting Standards Update 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing” (“ASU 2016-10”). In May 2016, the FASB issued Accounting Standards Update 2016-12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). ASU 2016-10 and ASU 2016-12 do not change the guidance under ASU 2014-09, but clarify certain aspects of this guidance. In May 2016, the FASB issued Accounting Standards Update 2016-11, “Revenue Recognition and Derivatives and Hedging” (“ASU 2016-11”). ASU 2016-11 rescinds certain SEC accounting guidance that is inconsistent with guidance in ASU 2014-09. Management is currently assessing the impact these ASUs will have on the Company, but they are not expected to have a material effect on the Company’s financial position, results of operations or 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 January 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments, specifically equity investments and financial instruments measured at amortized cost. ASU 2016-01 is effective for public companies for annual and interim periods beginning after December 15, 2017. Management is currently assessing the impact ASU 2016-01 will have, if any, on the Company’s financial position, results of operations and cash flows. In February 2016, the FASB issued Accounting Standards Update 2016-02, “Leases” (“ASU 2016-02”). ASU 2016-02 requires lessees to recognize lease assets and lease liabilities on the balance sheet but did not make significant changes to the effects of lessee accounting on the income statement or statement of cash flows. ASU 2016-02 is effective for public companies for annual and interim periods beginning after December 15, 2018. Management is currently assessing the impact ASU 2016-02 will have on the Company’s financial position. In March 2016, the FASB issued Accounting Standards Update 2016-09, “Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 requires, among other things, that excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement rather than as additional paid-in capital, changes the classification of excess tax benefits from a financing activity to an operating activity in the statement of cash flows, and allows forfeitures to be accounted for when they occur rather than estimated. ASU 2016-09 is effective for public companies for interim and annual periods beginning after December 15, 2016. Management is currently assessing the impact ASU 2016-09 will have on the Company’s financial position, results of operations and cash flows. In June 2016, the FASB issued Accounting Standards Update 2016-13, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-113 is effective for public companies for interim and annual periods beginning after December 15, 2019. Management is currently assessing the impact ASU 2016-13 will have on the Company, but it is not expected to have a material impact on the Company’s financial position, results of operations and cash flows. In August 2016, the FASB issued Accounting Standards Update 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable. Management is currently assessing the impact ASU 2016-15 will have on the Company, but it is not expected to have a material impact on the Company’s cash flows. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

Note 2 - Fabrica Transaction (T

Note 2 - Fabrica Transaction (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Products purchased under the Supply Agreement $ 8,003 $ 9,472 $ 26,447 $ 29,025 Amounts billed to Fabrica under the Equipment Lease Agreement $ 518 $ 666 $ 1,242 $ 1,590 Parent rolls purchased by Fabrica $ - $ 3,094 $ 867 $ 4,464

Note 4 - Commitments and Cont24

Note 4 - Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Long-term Purchase Commitment [Table Text Block]	Period MMBTUs Price per MMBTU Management fee per MMBTU 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, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2016 2015 (in thousands) Raw materials $ 6,084 $ 4,467 Bulk paper rolls 3,974 3,789 Converted finished goods 10,556 5,386 Inventory valuation reserve (165 ) (141 ) Total Inventories $ 20,449 $ 13,501

Note 6 - Property, Plant and 26

Note 6 - Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2016 2015 (in thousands) Land $ 1,316 $ 1,316 Buildings and improvements 37,146 24,321 Machinery and equipment 172,302 141,811 Vehicles 1,801 1,796 Nondepreciable machinery and equipment (parts and spares) 11,546 10,250 Construction-in-process 82,493 53,431 $ 306,604 $ 232,925

Note 7 - Long-term Debt and R27

Note 7 - Long-term Debt and Revolving Line of Credit (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 2015 (in thousands) Revolving line of credit, maturing on June 25, 2020 $ 16,447 $ - Delayed draw term loan, maturing on June 25, 2020 60,702 18,522 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 43,600 45,950 Term Loan, maturing on December 29, 2022, due in quarterly installments of $255,006, including interest 10,713 11,109 Less: unamortized debt issuance costs (1,263 ) (1,342 ) Total debt $ 130,199 $ 74,239 Less current portion 5,462 3,882 Total long term debt $ 124,737 $ 70,357
Schedule of Unamortized Debt Issuance Costs [Table Text Block]	September 30, December 31, 2016 2015 (in thousands) Revolving line of credit $ 234 $ 285 Delayed draw term loan 149 344 Term Loan, maturing on June 25, 2020 284 182 Term Loan, maturing on December 29, 2022 596 531 $ 1,263 $ 1,342

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net income - ($ thousands) $ 2,213 $ 4,742 $ 10,190 $ 9,856 Less: distributed earnings allocable to participating securities - (1 ) - (2 ) Less: undistributed earnings allocable to participating securities - - - - Distributed and undistributed earnings allocable to common shareholders $ 2,213 $ 4,741 $ 10,190 $ 9,854 Weighted average shares outstanding 10,296,891 10,266,891 10,282,841 9,613,412 Effect of stock options 70,769 58,459 68,574 59,549 Weighted average shares outstanding - assuming dilution 10,367,660 10,325,350 10,351,415 9,672,961 Net income per common share: Basic $ 0.21 $ 0.46 $ 0.99 $ 1.02 Diluted $ 0.21 $ 0.45 $ 0.98 $ 1.02 Stock options not considered above because they were anti-dilutive 511,250 563,600 516,250 535,000

Note 10 - Stock Incentives (Tab

Note 10 - Stock Incentives (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
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-15 40,000 $ 22.485 $4.64 2.13% 40% 6.23 % 5 January-16 5,000 $ 27.77 $6.56 2.00% 40% 5.04 % 5 May-16 40,000 $ 31.33 $7.57 1.74% 40% 4.47 % 5 September-16 20,000 $ 28.48 $4.28 - 4.83 1.21 - 1.50% 29 - 31% 4.92 % 5 - 7
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, 2016 2015 2016 2015 Time-Based Vesting Options $ 47,000 $ 1,000 $ 409,000 $ 188,000 Market-Based Vesting Options 22,000 77,000 191,000 555,000 Total compensation expense related to stock options $ 69,000 $ 78,000 $ 600,000 $ 743,000
Schedule of Compensation Cost Expected to be Expensed, Market-based Vesting [Table Text Block]	2016 2016 2017 Q1 Q2 Q3 Q4 Total Total (in thousands) Tranche 1 $ - $ - $ - $ - $ - $ - Tranche 2 6 7 4 - 17 - Tranche 3 60 4 3 3 70 3 Tranche 4 47 45 16 2 110 4 Total expense $ 113 $ 56 $ 23 $ 5 $ 197 $ 7

Note 11 - Major Customers and30

Note 11 - Major Customers and Concentration of Credit Risk (Tables)	9 Months Ended
	Sep. 30, 2016
Accounts Receivable [Member]
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	September 30, December 31, 2016 2015 Converted product customer 1 $ 4,971 41 % $ 3,434 32 % Converted product customer 2 2,079 17 % 931 9 % Converted product customer 3 101 1 % 2,071 19 % Total of accounts receivable $ 7,151 59 % $ 6,436 60 %
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, 2016 2015 2016 2015 Converted product customer 1 34 % 29 % 35 % 33 % Converted product customer 2 15 % 15 % 14 % 12 % Converted product customer 3 6 % 15 % 9 % 15 % Total percent of net sales 55 % 59 % 58 % 60 %
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Converted product net sales $ 38,284 $ 43,675 $ 122,867 $ 120,877 Parent roll net sales 1,344 3,157 3,918 5,665 Net sales $ 39,628 $ 46,832 $ 126,785 $ 126,542

Note 1 - Basis of Presentatio31

Note 1 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Millions	1 Months Ended
	Jun. 30, 2016USD ($)	Sep. 30, 2016
Number of Wholly Owned Subsidiaries		3
Gain on Business Interruption Insurance Recovery	$ 1.1

Note 2 - Fabrica Transaction (D

Note 2 - Fabrica Transaction (Details Textual) - USD ($)	May 05, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Certain Assets and US Business of Fabrica [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Finite-lived Intangible Assets, Quarterly, Amortization Expense	$ 143,000
Certain Assets and US Business of Fabrica [Member]
Goodwill, Period Increase (Decrease)		$ 0	$ 0	$ 0	$ 0
Goodwill, Impairment Loss				0
Business Acquisition, Percentage of Specified Division of Business Acquired	100.00%
Finite-Lived Intangible Assets, Net		14,700,000		14,700,000
Amortization of Intangible Assets		233,000
Finite-Lived Noncompete Agreements, Gross	$ 1,150,000
Goodwill		7,600,000		7,600,000
Finite-Lived Intangible Assets, Net		14,744,000		14,744,000		$ 15,730,000
Amortization of Intangible Assets		233,000	$ 376,000	986,000	$ 1,130,000
Goodwill		$ 7,560,000		$ 7,560,000		$ 7,560,000

Note 2 - Fabrica Transaction -

Note 2 - Fabrica Transaction - Transactions With Fabrica (Details) - Fabrica [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Supply Agreement [Member]
Products purchased under the Supply Agreement	$ 8,003	$ 9,472	$ 26,447	$ 29,025
Equipment Lease Agreement [Member]
Amounts billed to Fabrica under the Equipment Lease Agreement	518	666	1,242	1,590
Parent Rolls [Member]
Parent rolls purchased by Fabrica		$ 3,094	$ 867	$ 4,464

Note 3 - Fair Value Measureme34

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 2 [Member]
Long-term Debt, Fair Value	$ 131,462,000	$ 75,581,000

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, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)
Inventories [Member]
Long-term Purchase Commitment, Minimum Energy Volume Required per Year | MMBTU	334,000
Long-term Purchase Commitment Purchase, Amount		$ 0.4	$ 0.5	$ 1.2	$ 1.3
Capital Addition Purchase Commitments [Member] | Manufacturing Facility and Equipment [Member] | Barnwell South Carolina [Member] | Maximum [Member]
Cost of Capital Expenditure Projects						$ 150
Capital Addition Purchase Commitments [Member] | Manufacturing Facility and Equipment [Member] | Barnwell South Carolina [Member]
Purchase Obligation		$ 20.1		$ 20.1

Note 4 - Commitments and Cont36

Note 4 - Commitments and Contingencies - Commitments and Contingencies (Details) - Inventories [Member]	9 Months Ended
	Sep. 30, 2016MMBTU$ / item
From October 2016 Through December 2016 [Member]
MMBTUs | MMBTU	91,900
Price per MMBTU	4.42
Management fee per MMBTU	0.07
From July 2016 Through September 2016 [Member]
MMBTUs | MMBTU	467,505
Price per MMBTU	4.06
Management fee per MMBTU

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Raw materials	$ 6,084	$ 4,467
Bulk paper rolls	3,974	3,789
Converted finished goods	10,556	5,386
Inventory valuation reserve	(165)	(141)
Total Inventories	$ 20,449	$ 13,501

Note 6 - Property, Plant and 38

Note 6 - Property, Plant and Equipment (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Proceeds From Economic Incentive	$ 1,900,000			$ 1,900,000
Interest Costs Capitalized		$ 348,000	$ 299,000	$ 1,200,000	$ 423,000

Note 6 - Property, Plant and 39

Note 6 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Land [Member]
Property, Plant and Equipment	$ 1,316	$ 1,316
Building and Building Improvements [Member]
Property, Plant and Equipment	37,146	24,321
Machinery and Equipment [Member]
Property, Plant and Equipment	172,302	141,811
Vehicles [Member]
Property, Plant and Equipment	1,801	1,796
Nondepreciable Machinery and Equipment [Member]
Property, Plant and Equipment	11,546	10,250
Construction in Progress [Member]
Property, Plant and Equipment	82,493	53,431
Property, Plant and Equipment	$ 306,604	$ 232,925

Note 7 - Long-term Debt and R40

Note 7 - Long-term Debt and Revolving Line of Credit (Details Textual)	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000,000
Line of Credit Facility Threshold, Borrowing Base to Determine Reduction in Amount Available under Credit Facility		$ 25,000,000
Line of Credit Facility, Current Borrowing Capacity		19,300,000
Eligible Account Receivable [Member]
Line of Credit Facility, Current Borrowing Capacity		9,600,000
Eligible Inventory [Member]
Line of Credit Facility, Current Borrowing Capacity		9,700,000
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, Face Amount	$ 47,300,000
Debt Instrument, Term	5 years
Delayed Draw Term Loan Due June 2020 [Member]
Delayed Draw Term Loan, Maximum Borrowing Capacity	$ 115,000,000		99,600,000
Debt Instrument, Draw Period	2 years
Debt Instrument, Percent of Outstanding Balance Payable	1.50%
Term Loan Due December 29, 2022 [Member]
Debt Instrument, Face Amount			$ 11,100,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			4.40%
Debt Instrument, Periodic Payment		$ 255,006	$ 255,006
Minimum [Member]
Debt Instrument Covenant, Fixed Charge Coverage Ratio		1.2
Maximum [Member] | Debt Instrument Leverage Ratio through June 2017 [Member]
Debt Instrument, Leverage Ratio		4
Maximum [Member] | Debt Instrument Leverage Ratio on September 30, 2017 [Member]
Debt Instrument, Leverage Ratio		3.75
Maximum [Member] | Debt Instrument Leverage Ratio on December 31, 2017 [Member]
Debt Instrument, Leverage Ratio		3.5
Line of Credit Facility, Accordion Feature	$ 50,000,000
Debt Instrument, Leverage Ratio		3.71
Long-term Debt, Weighted Average Interest Rate		2.53%

Note 7 - Long-term Debt and R41

Note 7 - Long-term Debt and Revolving Line of Credit - Interest Margin and Commitment Fee Payable (Details)	9 Months Ended
	Sep. 30, 2016
Debt Instrument Leverage Ratio Less than 1.00 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Interest Margin	1.25%
Debt Instrument Leverage Ratio Less than 1.00 [Member] | Base Rate [Member]
Interest Margin	0.00%
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] | London Interbank Offered Rate (LIBOR) [Member]
Interest Margin	1.50%
Debt Instrument Leverage Ratio Greater than or Equal to 1 but Less than 2 [Member] | Base Rate [Member]
Interest Margin	0.00%
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] | London Interbank Offered Rate (LIBOR) [Member]
Interest Margin	1.75%
Debt Instrument Leverage Ratio Greater than or Equal to 2 but Less than 3 [Member] | Base Rate [Member]
Interest Margin	0.00%
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] | London Interbank Offered Rate (LIBOR) [Member]
Interest Margin	2.25%
Debt Instrument Leverage Ratio Greater than or Equal to 3 but Less than 3.50 [Member] | Base Rate [Member]
Interest Margin	0.00%
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] | London Interbank Offered Rate (LIBOR) [Member]
Interest Margin	2.50%
Debt Instrument Leverage Ratio Greater than or Equal to 3.50 [Member] | Base Rate [Member]
Interest Margin	0.25%
Debt Instrument Leverage Ratio Greater than or Equal to 3.50 [Member]
Commitment Fee	0.35%

Note 7 - Long-term Debt and R42

Note 7 - Long-term Debt and Revolving Line of Credit - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Revolving Credit Facility [Member]
Revolving line of credit, maturing on June 25, 2020	$ 16,447
Less: unamortized debt issuance costs	(234)	(285)
Delayed Draw Term Loan Due June 2020 [Member]
Secured debt	60,702	18,522
Less: unamortized debt issuance costs	(149)	(344)
Total debt	60,702	18,522
Term Loan Due June 25, 2020 [Member]
Secured debt	43,600	45,950
Less: unamortized debt issuance costs	(284)	(182)
Total debt	43,600	45,950
Term Loan Due December 29, 2022 [Member]
Secured debt	10,713	11,109
Less: unamortized debt issuance costs	(596)	(531)
Total debt	10,713	11,109
Secured debt	130,199	74,239
Less: unamortized debt issuance costs	(1,263)	(1,342)
Total debt	130,199	74,239
Less current portion	5,462	3,882
Total long term debt	$ 124,737	$ 70,357

Note 7 - Long-term Debt and R43

Note 7 - Long-term Debt and Revolving Line of Credit - Long-term Debt (Details) (Parentheticals) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
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 December 29, 2022 [Member]
Debt Instrument, Periodic Payment		$ 255,006	$ 255,006

Note 7 - Long-term Debt and R44

Note 7 - Long-term Debt and Revolving Line of Credit - Unamortized Debt Issuance Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Revolving Credit Facility [Member]
Unamortized debt issuance costs	$ 234	$ 285
Delayed Draw Term Loan Due June 2020 [Member]
Unamortized debt issuance costs	149	344
Term Loan Due June 25, 2020 [Member]
Unamortized debt issuance costs	284	182
Term Loan Due December 29, 2022 [Member]
Unamortized debt issuance costs	596	531
Unamortized debt issuance costs	$ 1,263	$ 1,342

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
From Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			$ 1.9		$ 1.3
Estimated Annual Effective Income Tax Rate			32.25%	33.90%
Effective Income Tax Rate Reconciliation, Percent	24.90%	34.00%	32.20%	30.90%

Note 9 - Earnings Per Share - E

Note 9 - Earnings Per Share - Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income - ($ thousands)	$ 2,213	$ 4,742	$ 10,190	$ 9,856
Less: distributed earnings allocable to participating securities		(1)		(2)
Less: undistributed earnings allocable to participating securities
Distributed and undistributed earnings allocable to common shareholders	$ 2,213	$ 4,741	$ 10,190	$ 9,854
Weighted average shares outstanding (in shares)	10,296,891	10,266,891	10,282,841	9,613,412
Effect of stock options (in shares)	70,769	58,459	68,574	59,549
Weighted average shares outstanding - assuming dilution (in shares)	10,367,660	10,325,350	10,351,415	9,672,961
Net income per common share:
Basic (in dollars per share)	$ 0.21	$ 0.46	$ 0.99	$ 1.02
Diluted (in dollars per share)	$ 0.21	$ 0.45	$ 0.98	$ 1.02
Stock options not considered above because they were anti-dilutive (in shares)	511,250	563,600	516,250	535,000

Note 10 - Stock Incentives (Det

Note 10 - Stock Incentives (Details Textual)	1 Months Ended			3 Months Ended		9 Months Ended
	Feb. 29, 2016shares	Feb. 28, 2015shares	Feb. 28, 2013$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Apr. 30, 2014shares
Employee Stock Option [Member] | Outside of the 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares						100,000
Share Price | $ / shares				$ 34.788		$ 34.788
Employee Stock Option [Member]
Allocated Share-based Compensation Expense | $				$ 69,000	$ 78,000	$ 600,000	$ 743,000
Stock Option with Market-based Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	28,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares						22,500
Share Price | $ / shares				$ 34.788		$ 34.788
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, Options, Forfeitures in Period						20,550
Share-based Compensation Arrangement by Share-based Payment Award, Options, Number of Employment Terminations Resulting in Forfeitures During Period						3
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, Vested in Period	2,000	2,333
Allocated Share-based Compensation Expense | $				$ 0	$ 8,000	$ 4,000	$ 34,000
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				164,200		164,200

Note 10 - Stock Incentives - Te

Note 10 - Stock Incentives - Temporal Details of Time-based Vesting Conditions (Details) - Board of Directors and Management [Member] - Stock Options with Time-based Vesting Conditions [Member] - $ / shares	1 Months Ended
	Sep. 30, 2016	May 31, 2016	Jan. 31, 2016	May 31, 2015
Minimum [Member]
Grant date fair value (in dollars per share)	$ 4.28
Risk-free interest rate	1.21%
Estimated volatility	29.00%
Expected life (years)	5 years
Maximum [Member]
Grant date fair value (in dollars per share)	$ 4.83
Risk-free interest rate	1.50%
Estimated volatility	31.00%
Expected life (years)	7 years
Number of shares (in shares)	20,000	40,000	5,000	40,000
Exercise price (in dollars per share)	$ 28.48	$ 31.33	$ 27.77	$ 22.485
Grant date fair value (in dollars per share)		$ 7.57	$ 6.56	$ 4.64
Risk-free interest rate		1.74%	2.00%	2.13%
Estimated volatility		40.00%	40.00%	40.00%
Dividend yield	4.92%	4.47%	5.04%	6.23%
Expected life (years)		5 years	5 years	5 years

Note 10 - Stock Incentives - 49

Note 10 - Stock Incentives - Temporal Details of Expenses Related to All Options Granted (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Stock Options with Time-based Vesting Conditions [Member]
Compensation expense related to stock options	$ 47,000			$ 1,000	$ 409,000	$ 188,000
Stock Options with Market-based Vesting Conditions [Member]
Compensation expense related to stock options	22,000	$ 56,000	$ 113,000	77,000	191,000	555,000
Employee Stock Option [Member]
Compensation expense related to stock options	$ 69,000			$ 78,000	$ 600,000	$ 743,000

Note 10 - Stock Incentives - 50

Note 10 - Stock Incentives - Temporal Details of Compensation Cost Expected to be Expensed (Details) - Stock Options with Market-based Vesting Conditions [Member] - USD ($)	3 Months Ended					9 Months Ended		12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Award, Tranche One [Member] | Scenario, Forecast [Member]
Compensation expense related to stock options
Share-based Compensation Award, Tranche One [Member]
Compensation expense related to stock options
Share-based Compensation Award, Tranche Two [Member] | Scenario, Forecast [Member]
Compensation expense related to stock options									17,000
Share-based Compensation Award, Tranche Two [Member]
Compensation expense related to stock options		4,000	7,000	6,000
Share-based Compensation Award, Tranche Three [Member] | Scenario, Forecast [Member]
Compensation expense related to stock options	3,000							3,000	70,000
Share-based Compensation Award, Tranche Three [Member]
Compensation expense related to stock options		3,000	4,000	60,000
Share-based Compensation Award, Tranche Four [Member] | Scenario, Forecast [Member]
Compensation expense related to stock options	2,000							4,000	110,000
Share-based Compensation Award, Tranche Four [Member]
Compensation expense related to stock options		16,000	45,000	47,000
Scenario, Forecast [Member]
Compensation expense related to stock options	$ 5,000							$ 7,000	$ 197,000
Compensation expense related to stock options		$ 22,000	$ 56,000	$ 113,000	$ 77,000	$ 191,000	$ 555,000

Note 11 - Major Customers and51

Note 11 - Major Customers and Concentration of Credit Risk - Revenue from Parent Rolls and Converted Products (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Converted Product [Member]
Net sales	$ 38,284	$ 43,675	$ 122,867	$ 120,877
Parent Rolls [Member]
Net sales	1,344	3,157	3,918	5,665
Net sales	$ 39,628	$ 46,832	$ 126,785	$ 126,542

Note 11 - Major Customers and52

Note 11 - Major Customers and Concentration of Credit Risk - Revenue from Significant Customers (Details) - Sales Revenue, Goods, Net [Member] - Customer Concentration Risk [Member]	3 Months Ended			9 Months Ended
	Sep. 30, 2016		Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Converted Product Customer 1 [Member]
Customer concentration risk	34.00%		29.00%	35.00%	33.00%
Converted Product Customer 2 [Member]
Customer concentration risk	15.00%		15.00%	14.00%	12.00%
Converted Product Customer 3 [Member]
Customer concentration risk	6.00%	[1]	15.00%	9.00%	15.00%
Customer concentration risk	55.00%		59.00%	58.00%	60.00%
[1]	*Customer did not account for more than 10% of sales during the period indicated

Note 11 - Major Customers and53

Note 11 - Major Customers and Concentration of Credit Risk - Accounts Receivable for Significant Customers (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Accounts Receivable [Member] | Credit Concentration Risk [Member] | Converted Product Customer 1 [Member]
Accounts receivable, net	$ 4,971	$ 3,434
Customer concentration risk	41.00%	32.00%
Accounts Receivable [Member] | Credit Concentration Risk [Member] | Converted Product Customer 2 [Member]
Accounts receivable, net	$ 2,079	$ 931
Customer concentration risk	17.00%	9.00%
Accounts Receivable [Member] | Credit Concentration Risk [Member] | Converted Product Customer 3 [Member]
Accounts receivable, net	$ 101	$ 2,071
Customer concentration risk	1.00%	19.00%
Accounts Receivable [Member] | Credit Concentration Risk [Member]
Accounts receivable, net	$ 7,151	$ 6,436
Customer concentration risk	59.00%	60.00%
Accounts receivable, net	$ 12,197	$ 10,509

Note 12 - New Market Tax Cred54

Note 12 - New Market Tax Credit (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2015	Sep. 30, 2016
NMTC Investor [Member] | Other Noncurrent Liabilities [Member] | Barnwell, South Carolina Facility [Member]
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	$ 5,100	$ 5,100
NMTC Investor [Member] | Barnwell, South Carolina Facility [Member]
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	$ 5,100
NMTC Investor [Member]
New Market Tax Credits, Recapture, Percentage	100.00%
Community Development Entities [Member] | Orchids Lessor SC, LLC [Member]
Related Party Transaction, Rate	1.275%
Notes Payable, Related Parties, Noncurrent	$ 16,200
U.S. Bank [Member] | Long-term Liabilities, Excluding Current Portion [Member]
Secured Debt	11,100	10,700
Restricted Cash [Member] | Orchids Lessor SC, LLC [Member]
Restricted Cash and Cash Equivalents, Noncurrent	12,000	1,300
Barnwell, South Carolina Facility [Member] | Orchids Lessor SC, LLC [Member]
Property, Plant and Equipment, Net	18,000
Investment Fund [Member]
Notes Receivable, Related Parties, Noncurrent	$ 11,100
Term of Related Party Notes Receivable	25 years
Related Party Transaction, Rate	1.00%
Orchids Lessor SC, LLC [Member] | Maximum [Member] | Pro Forma [Member] | Principal Forgiveness [Member]
Nonoperating Gains (Losses)	$ 5,100
Number of Community Development Entities	2
Property, Plant and Equipment, Net	$ 173,378	238,421
Tax Credit Recapture Period	7 years
Secured Debt	$ 74,239	130,199
Restricted Cash and Cash Equivalents, Noncurrent	$ 12,005	$ 1,335

Note 13 - Follow-on Stock Off55

Note 13 - Follow-on Stock Offering (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
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 14 - ODFA Pooled Financi56

Note 14 - ODFA Pooled Financing (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		25 Months Ended
	Sep. 30, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Oklahoma Development Finance Authority [Member]
Note Receivable Financing Agreement, Maximum Borrowing Capacity	$ 3,500,000
State Witholding Taxes Returned	$ 3,500,000
Financing Receivable, Gross		$ 372,000		$ 372,000		$ 372,000	$ 328,000
Other Nonoperating Income (Expense)		153,000	$ 169,000	500,000	$ 514,000	$ 1,398,000
Other Nonoperating Income (Expense)		$ 162,000	$ 169,000	$ 527,000	$ 507,000

Note 15 - New and Recently Ad57

Note 15 - New and Recently Adopted Accounting Pronouncements (Details Textual) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
From Unamortized Debt Issuance Costs to Long Term Debt Offset [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 1.3	$ 1.3
From Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 1.9	$ 1.3

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual)	Oct. 26, 2016$ / shares
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.35