Acme United (ACU) 10-Q 8 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 02, 2013
Document And Entity Information	'	'
Entity Registrant Name	'ACME UNITED CORP	'
Entity Central Index Key	'0000002098	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	3,196,102
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$11,809	$9,750
Accounts receivable, less allowance	17,488	16,442
Inventories:	'	'
Finished goods	27,346	28,819
Work in process	30	71
Raw materials and supplies	1,904	1,402
Total inventory	29,280	30,292
Prepaid expenses and other current assets	1,884	1,925
Total current assets	60,461	58,409
Property, plant and equipment:	'	'
Land	449	291
Buildings	3,977	2,294
Machinery and equipment	8,241	8,283
Total property, plant and equipment	12,667	10,868
Less accumulated depreciation	7,607	8,515
Net plant, property and equipment	5,060	2,353
Note receivable	'	1,702
Intangible assets, net	4,105	4,240
Other assets	1,112	1,124
Total assets	70,738	67,828
Current liabilities:	'	'
Accounts payable	5,016	6,480
Other accrued liabilities	5,267	5,250
Total current liabilities	10,283	11,730
Long-term debt	25,031	24,320
Other	972	912
Total liabilities	36,286	36,962
STOCKHOLDERS' EQUITY	'	'
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,557,874 shares in 2013 and 4,487,524 shares in 2012, including treasury stock	11,395	11,218
Additional paid-in capital	6,355	5,636
Retained earnings	29,831	27,082
Treasury stock, at cost - 1,362,072 shares	-12,283	-12,283
Accumulated other comprehensive income:	'	'
Minimum pension liability	-1,032	-1,032
Translation adjustment	186	245
Total accumulated other comprehensive income	-846	-787
Total stockholders' equity	34,452	30,866
Total liabilities and stockholders' equity	$70,738	$67,828

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
STOCKHOLDERS' EQUITY	'	'
Common stock, par value	$2.50	$2.50
Common stock, shares authorized	8,000,000	8,000,000
Common stock, shares issued	4,557,874	4,487,524
Treasury stock, shares	1,362,072	1,362,072

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements Of Operations	'	'	'	'
Net sales	$22,135	$20,363	$68,198	$64,835
Cost of goods sold	14,195	12,937	43,749	41,644
Gross profit	7,940	7,426	24,449	23,191
Selling, general and administrative expenses	6,531	6,067	19,334	18,296
Operating income	1,409	1,359	5,115	4,895
Interest:	'	'	'	'
Interest expense	133	147	382	340
Interest income	-34	-64	-140	-140
Interest expense, net	99	83	242	200
Other (income) expense, net	-13	7	15	93
Total other expense	86	90	257	293
Income before income taxes	1,323	1,269	4,858	4,602
Income tax expense	364	471	1,379	1,484
Net income	$959	$798	$3,479	$3,118
Basic earnings per share	$0.30	$0.26	$1.10	$1
Diluted earnings per share	$0.29	$0.26	$1.07	$1
Weighted average number of common shares outstanding - denominator used for basic per share computations	3,189	3,103	3,158	3,114
Weighted average number of dilutive stock options outstanding	137	30	86	18
Denominator used for diluted per share computations	3,325	3,133	3,244	3,132
Dividends declared per share	$0.08	$0.07	$0.23	$0.21

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements Of Comprehensive Income	'	'	'	'
Net income	$959	$798	$3,479	$3,118
Other comprehensive income (loss) -	'	'	'	'
Foreign currency translation	238	262	-59	164
Comprehensive income	$1,197	$1,060	$3,420	$3,282

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operating Activities:	'	'
Net income	$3,479	$3,118
Adjustments to reconcile net income to net cash provided (used) by operating activities:	'	'
Depreciation	673	623
Amortization	202	162
Stock compensation expense	388	326
Changes in operating assets and liabilities:	'	'
Accounts receivable	-1,216	-3,140
Inventories	1,039	-5,068
Prepaid expenses and other current assets	13	-476
Accounts payable	-1,447	1,558
Other accrued liabilities	-70	1,423
Total adjustments	-418	-4,592
Net cash provided (used) by operating activities	3,061	-1,474
Investing Activities:	'	'
Purchase of property, plant, and equipment	-3,394	-516
Purchase of patents and trademarks	-67	-103
Acquisition of certain assets of The C-Thru Ruler Company	'	-1,474
Proceeds from the sale of building	1,727	'
Net cash used by investing activities	-1,734	-2,093
Financing Activities:	'	'
Borrowing of long-term debt	711	6,752
Proceeds from issuance of common stock	508	21
Distributions to stockholders	-473	-654
Purchase of treasury stock	'	-370
Net cash provided by financing activities	746	5,749
Effect of exchange rate changes	-14	70
Net change in cash and cash equivalents	2,059	2,252
Cash and cash equivalents at beginning of period	9,750	7,853
Cash and cash equivalents at end of period	$11,809	$10,105

Basis_of_Presentation_and_Rece

Basis of Presentation and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation and Recent Accounting Pronouncements	'
	Note 1 — Basis of Presentation and Recent Accounting Pronouncements
	In the opinion of management, the accompanying condensed consolidated financial statements include all adjustments necessary to present fairly the financial position, results of operations and cash flows of Acme United Corporation (the “Company”). These adjustments are of a normal, recurring nature. However, the condensed consolidated financial statements do not include all of the disclosures normally required by accounting principles generally accepted in the United States of America or those normally made in the Company's Annual Report on Form 10-K. Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2012 for such disclosures. The condensed consolidated balance sheet as of December 31, 2012 was derived from the audited consolidated balance sheet as of that date. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Management’s Discussion and Analysis of Financial Condition and Results of Operations and financial statements and notes thereto, included in the Company’s 2012 Annual Report on Form 10-K.
	The Company has evaluated events and transactions subsequent to September 30, 2013 and through the date these condensed consolidated financial statements were included in this Form 10-Q and filed with the SEC.
	Recent accounting pronouncements
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update on the reporting of amounts reclassified out of accumulated other comprehensive income, to improve the transparency of reporting. These reclassifications present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income – but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. This standard update is effective for reporting periods beginning after December 15, 2012. The adoption of this accounting standard did not have an impact on our consolidated financial statements.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2013
Contingencies	'
Contingencies	'
	Note 2 — Contingencies
	The Company is involved from time to time in disputes and other litigation in the ordinary course of business and may encounter other contingencies, which may include environmental and other matters. The Company presently has no matters other than the environmental remediation accrual described below.
	In December 2008, the Company sold property it owned in Bridgeport, Connecticut to B&E Juices, Inc. for $2.5 million, of which $2.0 million was secured by a mortgage on the property. The property consists of approximately four acres of land and 48,000 sq. feet of warehouse space. The property was the site of the Company’s original scissor factory which opened in 1887 and was closed in 1996.
	Under the terms of the sale agreement, and as required by the Connecticut Transfer Act, the Company was required to remediate any environmental contamination on the property. During 2008, the Company hired an independent environmental consulting firm to conduct environmental studies in order to identify the extent of the environmental contamination on the property and to develop a remediation plan. As a result of those studies and the estimates prepared by the independent environmental consulting firm, the Company recorded an undiscounted liability of approximately $1.8 million related to the remediation of the property. This accrual included the costs of required investigation, remedial activities, and post-remediation operating and maintenance.
	The remediation work, which began in the third quarter of 2009, was completed during the third quarter of 2012. The Company, with the assistance of its independent environmental consulting firm, must continue to monitor contaminant levels on the property to ensure they comply with set governmental standards. The Company expects that the monitoring period could last a minimum of two years from the time it started in the third quarter of 2012. Currently, the Company expects to satisfy the monitoring requirements during the second half of 2014. At September 30, 2013, the Company had approximately $54,000 remaining in its accrual for post-remediation monitoring and project closing costs, of which approximately $34,000 was classified as a current liability.
	The change in the accrual for environmental remediation for the nine months ended September 30, 2013 follows (in thousands):
	Balance at	Payments	Balance at
	31-Dec-12		30-Sep-13
	$  124	$  (70)	$  54
	Also, as part of the sale, the Company provided the buyer with a mortgage of $2.0 million at six percent interest per year. During the third quarter of 2013, the Company received $1,726,888 from B&E Juices, Inc. as an early repayment of the outstanding balance on the mortgage.

Pension

Pension	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Pension	'
	Note 3 — Pension
	Components of net periodic benefit cost are as follows (in thousands):
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013		2012			2013			2012
	Components of net periodic benefit cost:
	Interest cost	$	5	$	21		$	48		$	64
	Service cost		13		9			30			27
	Expected return on plan assets		2		(24	)		(53	)		(71	)
	Amortization of prior service costs		3		2			8			7
	Amortization of actuarial loss		29		34			106			102
		$	52	$	43		$	139		$	128
	Under applicable laws and regulations, in 2013, the Company is required to contribute to its qualified plan approximately $225,000. At September 30, 2013, the Company had contributed approximately $185,000 to the plan for 2013.

Debt_and_Shareholders_Equity

Debt and Shareholders Equity	9 Months Ended
	Sep. 30, 2013
Debt And Shareholders Equity	'
Debt and Shareholders Equity	'
	Note 4 —Debt and Shareholders Equity
	On April 25, 2013, the Company amended its revolving loan agreement with HSBC Bank N.A. dated April 5, 2012. The amendment increased the borrowing limit to $40 million from $30 million. The interest rate remains the same at LIBOR plus 1.75%. All principal amounts outstanding under the agreement are required to be repaid in a single amount on April 5, 2017, the date the agreement expires; interest is payable monthly. Funds borrowed under the agreement may be used for working capital, general operating expenses, share repurchases, acquisitions and certain other purposes. Under the amended loan agreement, the Company is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio.
	As of September 30, 2013 and December 31, 2012, the Company had outstanding borrowings of $25,030,826 and $24,319,829, respectively, under the Company’s revolving loan agreement with HSBC. At September 30, 2013 the Company was in compliance with the financial covenants referenced above.
	During the three months ended September 30, 2013, the Company issued 16,825 shares of common stock upon the exercise of outstanding stock options and received total proceeds of $185,865.
	During the nine months ended September 30, 2013, the Company issued 70,650 shares of common stock upon the exercise of outstanding stock options and received total proceeds of $507,857.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2013
Segment Information	'
Segment Information	'
	Note 5— Segment Information
	The Company reports financial information based on the organizational structure used by management for making operating and investment decisions and for assessing performance. The Company’s reportable business segments consist of: (1) United States; (2) Canada and (3) Europe. As described below, the activities of the Company’s Asian operations are closely linked to those of the U.S. operations; accordingly, management reviews the financial results of both on a consolidated basis, and the results of the Asian operations have been aggregated with the results of the United States operations to form one reportable segment called the “United States segment” or “U.S. segment”. Each reportable segment derives its revenue from the sales of cutting devices, measuring instruments and safety products for school, office, home, hardware and industrial use.
	Domestic sales orders are filled from the Company’s distribution center in North Carolina. The Company is responsible for the costs of shipping, insurance, customs clearance, duties, storage and distribution related to such products. Orders filled from the Company’s inventory are generally for less than container-sized lots.
	Direct import sales are products sold by the Company’s Asian subsidiary, directly to major U.S. retailers, who take ownership of the products in Asia. These sales are completed by delivering product to the customers’ common carriers at the shipping points in Asia. Direct import sales are made in larger quantities than domestic sales, typically full containers. Direct import sales represented approximately 15% and 22% of the Company’s total net sales for the three and nine months ended September 30, 2013, respectively compared to 12% and 16% for the comparable periods in 2012.
	The chief operating decision maker evaluates the performance of each operating segment based on segment revenues and operating income. Segment amounts below are presented after converting to U.S. dollars and consolidating eliminations.
	Financial data by segment:
	(in thousands)
		Three months ended						Nine months ended
		September 30,						September 30,
	Sales to external customers:	2013			2012			2013		2012
	United States	$	18,273		$	16,541		$	55,992	$	51,702
	Canada		1,782			2,170			6,549		7,137
	Europe		2,080			1,652			5,657		5,996
	Consolidated	$	22,135		$	20,363		$	68,198	$	64,835
	Operating income (loss):
	United States	$	1,183		$	1,240		$	4,454	$	3,992
	Canada		130			182			592		753
	Europe		96			(63	)		69		149
	Consolidated	$	1,409		$	1,359		$	5,115	$	4,895
	Interest expense, net		99			83			242		200
	Other expense (income), net		(13	)		7			15		93
	Consolidated income before income taxes	$	1,323		$	1,269		$	4,858	$	4,602
	Assets by segment:
	( in thousands )
		September 30,			December 31,
		2013			2012
	United States	$	59,745		$	56,115
	Canada		5,762			6,107
	Europe		5,231			5,606
	Consolidated	$	70,738		$	67,828

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Based Compensation	'
	Note 6 – Stock Based Compensation
	The Company recognizes share-based compensation at fair value of the equity instrument on the grant date. Compensation expense is recognized over the required service period. Share-based compensation expenses were $115,543 and $93,000 for the quarters ended September 30, 2013 and September 30, 2012, respectively. Share-based compensation expense was $387,953 and $325,753 for the nine months ended September 30, 2013 and September 30, 2012, respectively. During the three months ended September 30, 2013, the Company issued 152,500 options with a weighted average fair value of $3.37 per share. During the nine months ended September 30, 2013 the Company issued 210,500 options with a weighted average fair value of $3.18.
	As of September 30, 2013, there was a total of $998,224 of unrecognized compensation cost related to non-vested share –based payments granted to the Company’s employees. The remaining unamortized expense is expected to be recognized over a weighted average period of approximately 3 years.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
Fair Value Measurements	'
	Note 7 – Fair Value Measurements
	The carrying value of the Company’s bank debt and note receivable approximates fair value. Fair value was determined using a discounted cash flow analysis.

Business_Combination

Business Combination	9 Months Ended
	Sep. 30, 2013
Business Combination	'
Business Combination	'
	Note 8 – Business Combination
	On June 7, 2012, the Company purchased certain assets of The C-Thru Ruler Company (“C-Thru”), a leading supplier of drafting, measuring, lettering and stencil products. The Company purchased inventory and intellectual property for approximately $1.47 million using funds borrowed under its revolving credit facility with HSBC. The Company recorded approximately $0.42 million for inventory, as well as approximately $1.05 million for intangible assets, consisting primarily of customer relationships.
	Assuming C-Thru was acquired on January 1, 2012, unaudited proforma combined net sales for the three and nine months ended September 30, 2012 for the Company would have been approximately $20.4 million and $66.0 million, respectively.
	Unaudited net income for the three and nine months ended September 30, 2012 attributable to C-Thru were not material to the Company’s financial statements for those periods.

Basis_of_Presentation_and_Rece1

Basis of Presentation and Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2013
Basis Of Presentation And Recent Accounting Pronouncements Policies	'
Recent accounting pronouncements	'
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update on the reporting of amounts reclassified out of accumulated other comprehensive income, to improve the transparency of reporting. These reclassifications present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income – but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. This standard update is effective for reporting periods beginning after December 15, 2012. The adoption of this accounting standard did not have an impact on our consolidated financial statements.

Contingencies_Tables

Contingencies (Tables)	9 Months Ended
	Sep. 30, 2013
Contingencies Tables	'
Accrual for Environmental Remediation Table	'
	Balance at	Payments	Balance at
	31-Dec-12		30-Sep-13
	$  124	$  (70)	$  54

Pension_Tables

Pension (Tables)	9 Months Ended
	Sep. 30, 2013
Pension Tables	'
Components of Net Benefit Cost	'
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013		2012			2013			2012
	Components of net periodic benefit cost:
	Interest cost	$	5	$	21		$	48		$	64
	Service cost		13		9			30			27
	Expected return on plan assets		2		(24	)		(53	)		(71	)
	Amortization of prior service costs		3		2			8			7
	Amortization of actuarial loss		29		34			106			102
		$	52	$	43		$	139		$	128

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Information Tables	'
Financial Data By Segment Table	'
	Financial data by segment:
	(in thousands)
		Three months ended						Nine months ended
		September 30,						September 30,
	Sales to external customers:	2013			2012			2013		2012
	United States	$	18,273		$	16,541		$	55,992	$	51,702
	Canada		1,782			2,170			6,549		7,137
	Europe		2,080			1,652			5,657		5,996
	Consolidated	$	22,135		$	20,363		$	68,198	$	64,835
	Operating income (loss):
	United States	$	1,183		$	1,240		$	4,454	$	3,992
	Canada		130			182			592		753
	Europe		96			(63	)		69		149
	Consolidated	$	1,409		$	1,359		$	5,115	$	4,895
	Interest expense, net		99			83			242		200
	Other expense (income), net		(13	)		7			15		93
	Consolidated income before income taxes	$	1,323		$	1,269		$	4,858	$	4,602
Assets By Segment	'
	Assets by segment:
	( in thousands )
		September 30,			December 31,
		2013			2012
	United States	$	59,745		$	56,115
	Canada		5,762			6,107
	Europe		5,231			5,606
	Consolidated	$	70,738		$	67,828

Contingencies_Details_Narrativ

Contingencies (Details Narrative) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended
	Dec. 31, 2008	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
			Y
Contingencies Details Narrative	'	'	'	'
Description of property sale	'	'	'	'
	In December 2008, the Company sold property it owned in Bridgeport, Connecticut to B&E Juices, Inc. for $2.5 million, of which $2.0 million is secured by a mortgage on the property.  The property consists of approximately four acres of land and 48,000 sq. feet of warehouse space.  The property was the site of the Company’s original scissor factory which opened in 1887 and was closed in 1996.
Proceeds from sale of property	$2,500,000	'	'	'
Mortgage receivable from sale of property	2,000,000	'	'	'
Interest rate on mortgage receivable	6.00%	'	'	'
Undiscounted environmental remediation liability	1,800,000	'	'	'
Accrual for environmental remediation and monitoring	'	54,000	54,000	124,000
Accrual for environmental remediation and monitoring, current	'	34,000	34,000	'
Minimum environmental remediation monitoring period (in years)	'	'	2	'
Proceeds received as repayment of mortgage receivable	'	$1,726,888	'	'

Contingencies_Accrual_for_Envi

Contingencies - Accrual for Environmental Remediation (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Contingencies - Accrual For Environmental Remediation Details	'
Environmental remediation accrual at December 31, 2012	$124,000
Payments	-70,000
Environmental remediation accrual at September 30, 2013	$54,000

Pension_Details_Narrative

Pension (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Expected plan contributions during 2013	$225,000
Plan contributions during period	$185,000

Pension_Periodic_Benefit_Cost_

Pension - Periodic Benefit Cost (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Components of net periodic benefit cost:	'	'	'	'
Interest cost	$5	$21	$48	$64
Service cost	13	9	30	27
Expected return on plan assets	2	-24	-53	-71
Amortization of prior service costs	3	2	8	7
Amortization of actuarial loss	29	34	106	102
Net periodic benefit cost	$52	$43	$139	$128

Debt_and_Stockholders_Equity_D

Debt and Stockholders Equity (Details Narrative) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Apr. 25, 2013	Dec. 31, 2012	Apr. 05, 2012
Debt And Stockholders Equity Details Narrative	'	'	'	'	'	'
Outstanding borrowings under revolving loan agreement	'	$25,030,826	$25,030,826	'	$24,319,829	'
Credit facility borrowing capacity	'	'	'	40,000,000	'	30,000,000
Interest rate of LIBOR plus percentage	'	'	'	1.75%	'	1.75%
Credit facility interest rate	'Interest rate of LIBOR plus 1.75%	'	'	'	'	'
Credit facility expiration date	5-Apr-17	'	'	'	'	'
Covenant terms and compliance	'	'	'Under the amended loan agreement, the Company is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio. At September 30, 2013 the Company was in compliance with the financial covenants referenced above.	'	'	'
Common stock issued upon exercise of employee stock options (in shares)	'	16,825	70,650	'	'	'
Cash received upon exercise of employee stock options	'	$185,865	$507,857	'	'	'

Segment_Information_Financial_

Segment Information - Financial Data by Segment (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Sales to external customers	$22,135	$20,363	$68,198	$64,835	'
Operating income (loss)	1,409	1,359	5,115	4,895	'
Interest expense, net	99	83	242	200	'
Other expense (income), net	-13	7	15	93	'
Consolidated income before income taxes	1,323	1,269	4,858	4,602	'
Assets	70,738	'	70,738	'	67,828
United States	'	'	'	'	'
Sales to external customers	18,273	16,541	55,992	51,702	'
Operating income (loss)	1,183	1,240	4,454	3,992	'
Assets	59,745	'	59,745	'	56,115
Canada	'	'	'	'	'
Sales to external customers	1,782	2,170	6,549	7,137	'
Operating income (loss)	130	182	592	753	'
Assets	5,762	'	5,762	'	6,107
Europe	'	'	'	'	'
Sales to external customers	2,080	1,652	5,657	5,996	'
Operating income (loss)	96	-63	69	149	'
Assets	$5,231	'	$5,231	'	$5,606

Segment_Information_Details_Na

Segment Information (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Information Details Narrative	'	'	'	'
Direct import sales to total net sales ratio	15.00%	12.00%	22.00%	16.00%

Stock_Based_Compensation_Detai

Stock Based Compensation (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock Based Compensation Details Narrative	'	'	'	'
Share-based compensation expense	$115,543	$93,000	$387,953	$325,753
Stock options granted during period (in shares)	152,500	'	210,500	'
Weighted average fair value of stock options granted during period	$3.37	'	$3.18	'
Unrecognized compensation cost	$998,224	'	$998,224	'
Unrecognized compensation cost recognition period	'	'	'3 years	'

Business_Combination_Details_N

Business Combination (Details Narrative) (The C-Thru Ruler Company, USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Jun. 07, 2012
The C-Thru Ruler Company	'	'	'
Total purchase price of assets	'	'	$1,470,000
Purchase price allocated to inventory	'	'	420,000
Purchase price allocated to intangible assets	'	'	1,050,000
Unaudited proforma net sales during period	$20,400,000	$66,000,000	'