Acme United (ACU) 10-Q 14 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 03, 2014
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-14	'
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	'	3,289,455
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$5,814	$11,644
Accounts receivable, less allowance	24,007	15,629
Inventories:	'	'
Finished goods	28,809	26,004
Work in process	391	187
Raw materials and supplies	2,261	2,028
Total inventory	31,461	28,219
Prepaid expenses and other current assets	1,839	1,494
Total current assets	63,121	56,986
Property, plant and equipment:	'	'
Land	443	597
Buildings	4,475	5,854
Machinery and equipment	10,210	8,905
Total property, plant and equipment	15,128	15,356
Less accumulated depreciation	8,479	9,420
Net property, plant and equipment	6,649	5,936
Intangible assets, net	12,761	4,072
Goodwill	1,340	'
Other assets	1,072	1,085
Total assets	84,943	68,079
Current liabilities:	'	'
Accounts payable	6,574	4,790
Other accrued liabilities	8,067	5,087
Total current liabilities	14,641	9,877
Long-term debt	30,344	22,912
Other	807	286
Total liabilities	45,792	33,075
STOCKHOLDERS' EQUITY	'	'
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,637,249 shares in 2014 and 4,563,174 shares in 2013, including treasury stock	11,592	11,407
Additional paid-in capital	7,622	6,466
Retained earnings	33,390	30,099
Treasury stock, at cost - 1,362,072 shares	-12,283	-12,283
Accumulated other comprehensive income:	'	'
Minimum pension liability	-791	-791
Translation adjustment	-379	106
Total accumulated other comprehensive income	-1,170	-685
Total stockholders' equity	39,151	35,004
Total liabilities and stockholders' equity	$84,943	$68,079

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
STOCKHOLDERS' EQUITY	'	'
Common stock, par value	$2.50	$2.50
Common stock, shares authorized	8,000,000	8,000,000
Common stock, shares issued	4,637,249	4,563,174
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 Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Consolidated Statements Of Operations	'	'	'	'
Net sales	$30,008	$22,135	$82,555	$68,198
Cost of goods sold	19,393	14,195	53,346	43,749
Gross profit	10,615	7,940	29,209	24,449
Selling, general and administrative expenses	8,685	6,531	22,920	19,334
Operating income	1,930	1,409	6,289	5,115
Interest:	'	'	'	'
Interest expense	157	133	355	382
Interest income	-4	-34	-12	-140
Interest expense, net	153	99	343	242
Other expense (income), net	67	-13	78	15
Total other expense	220	86	421	257
Income before income taxes	1,710	1,323	5,868	4,858
Income tax expense	521	364	1,769	1,379
Net income	$1,189	$959	$4,099	$3,479
Basic earnings per share	$0.37	$0.30	$1.27	$1.10
Diluted earnings per share	$0.34	$0.29	$1.18	$1.07
Weighted average number of common shares outstanding - denominator used for basic per share computations	3,250,000	3,189,000	3,224,000	3,158,000
Weighted average number of dilutive stock options outstanding	296,000	137,000	261,000	86,000
Denominator used for diluted per share computations	3,546,000	3,325,000	3,485,000	3,244,000
Dividends declared per share	$0.09	$0.08	$0.25	$0.23

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Consolidated Statements Of Comprehensive Income	'	'	'	'
Net income	$1,189	$959	$4,099	$3,479
Other comprehensive income (loss) -	'	'	'	'
Foreign currency translation	-447	238	-485	-59
Comprehensive income	$742	$1,197	$3,614	$3,420

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating Activities:	'	'
Net income	$4,099	$3,479
Adjustments to reconcile net income to net cash provided (used) by operating activities:	'	'
Depreciation	902	673
Amortization	345	202
Stock compensation expense	451	388
Gain on disposal/sale of assets	-200	'
Changes in operating assets and liabilities:	'	'
Accounts receivable	-6,079	-1,216
Inventories	-1,895	1,039
Prepaid expenses and other current assets	-168	13
Accounts payable	863	-1,447
Other accrued liabilities	3,018	-70
Total adjustments	-2,763	-418
Net cash provided by operating activities	1,336	3,061
Investing Activities:	'	'
Purchase of property, plant, and equipment	-1,419	-3,394
Purchase of patents and trademarks	-119	-67
Acquisition of certain assets of First Aid Only, Inc.	-13,806	'
Proceeds from the sales of property, plant and equipment	773	1,727
Net cash used by investing activities	-14,571	-1,734
Financing Activities:	'	'
Borrowing of long-term debt, net of repayments	7,433	711
Proceeds from issuance of common stock	890	508
Distributions to stockholders	-768	-473
Net cash provided by financing activities	7,555	746
Effect of exchange rate changes	-150	-14
Net change in cash and cash equivalents	-5,830	2,059
Cash and cash equivalents at beginning of period	11,644	9,750
Cash and cash equivalents at end of period	$5,814	$11,809

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Note 1 — Basis of Presentation
	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 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, 2013 for such disclosures. The condensed consolidated balance sheet as of December 31, 2013 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 the financial statements and notes thereto, included in the Company’s 2013 Annual Report on Form 10-K.
	The Company has evaluated events and transactions subsequent to September 30, 2014 and through the date these condensed consolidated financial statements were included in this Form 10-Q and filed with the SEC.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2014
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 is 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.
	Remediation work on the project began in the third quarter of 2009 and was completed during the third quarter of 2012. In addition to the completed remediation work, 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 applicable governmental standards. At September 30, 2014, the Company had approximately $17,000 remaining in its accrual related to the environmental remediation, all of which was classified as a current liability at that date.
	On April 7, 2014, the Company sold its Fremont, NC distribution facility for $850,000 in cash. Under the terms of the sale agreement, the Company is responsible to remediate any environmental contamination on the property. 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, and in conjunction with the sale of the property, the Company recorded a liability of $300,000 in the second quarter of 2014, related to the remediation of the property. The accrual includes the total estimated costs of remedial activities and post-remediation operating and maintenance costs.
	Remediation work on the project began in the third quarter of 2014 and is expected to be completed in the first half of 2015. In addition to the remediation work, 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 will last a period of five years after the completion of the remediationand be complete by the end of 2020.
	The change in the accrual for environmental remediation for the nine months ended September 30, 2014 follows (in thousands):
		Balance at		Estimated Costs		Payments			Balance at
		31-Dec-13							30-Sep-14
	Fremont, NC		—	$	300	$	(35	)	$	265
	Bridgeport, CT	$	39		—	$	(22	)	$	17
	Total	$	39	$	300	$	(57	)	$	282

Pension

Pension	9 Months Ended
	Sep. 30, 2014
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,
		2014			2013		2014			2013
	Components of net periodic benefit cost:
	Interest cost	$	18		$	5	$	53		$	48
	Service cost		6			13		19			30
	Expected return on plan assets		(23	)		2		(70	)		(53	)
	Amortization of prior service costs		2			3		7			8
	Amortization of actuarial loss		29			29		87			106
		$	32		$	52	$	96		$	139
	The Company’s funding policy with respect to its qualified plan is to contribute at least the minimum amount required by applicable laws and regulations. In 2014, the Company is required to contribute approximately $200,000. As of September 30, 2014 the Company contributed approximately $160,000 to the plan.

Debt_and_Shareholders_Equity

Debt and Shareholders' Equity	9 Months Ended
	Sep. 30, 2014
Debt And Shareholders Equity	'
Debt and Stockholders 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. During the fourth quarter of 2013, the Company and HSBC agreed to make certain technical amendments to a covenant of the amended loan agreement to accommodate the purchase of the Rocky Mount facility. Under the amended loan agreement, the Company continues to be required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio. At September 30, 2014, the Company was in compliance with these covenants.
	As of September 30, 2014 and December 31, 2013, the Company had outstanding borrowings of $30,344,310 and $22,911,829, respectively, under the Company’s revolving loan agreement with HSBC.
	During the three months ended September 30, 2014, the Company issued a total of 61,325 shares of common stock and received aggregate proceeds of $716,965 upon exercise of employee stock options.
	During the nine months ended September 30, 2014, the Company issued a total of 74,075 shares of common stock and received aggregate proceeds of $890,375 upon the exercise of employee stock options.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2014
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 11% and 16% of the Company’s total net sales for the three and nine months ended September 30, 2014 compared to 15% and 22% for the comparable periods in 2013.
	The chief operating decision maker evaluates the performance of each operating segment based on segment revenues and operating income. Segment amounts 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:	2014		2013			2014			2013
	United States	$	25,833	$	18,273		$	69,946		$	55,992
	Canada		2,190		1,782			7,372			6,549
	Europe		1,985		2,080			5,237			5,657
	Consolidated	$	30,008	$	22,135		$	82,555		$	68,198
	Operating income (loss):
	United States	$	1,819	$	1,183		$	5,752		$	4,454
	Canada		94		130			652			592
	Europe		17		96			(115	)		69
	Consolidated	$	1,930	$	1,409		$	6,289		$	5,115
	Interest expense, net		153		99			343			242
	Other expense (income), net		67		(13	)		78			15
	Consolidated income before income taxes	$	1,710	$	1,323		$	5,868		$	4,858
	Assets by segment:
	( in thousands )
		September 30,		December 31,
		2014		2013
	United States	$	74,258	$	57,068
	Canada		6,090		5,329
	Europe		4,595		5,682
	Consolidated	$	84,943	$	68,079

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Based Compensation	'
	Note 6 – Stock Based Compensation
	The Company recognizes share-based compensation at the fair value of the equity instrument on the grant date. Compensation expense is recognized over the required service period. Share-based compensation expenses were $151,193 and $115,543 for the quarters ended September 30, 2014 and 2013, respectively. Share-based compensation expenses were $451,193 and $387,953 for the nine months ended September 30, 2014 and 2013, respectively. During the three months ended September 30, 2014, the Company issued 138,000 options with a weighted average fair value of $3.23 per share. During the nine months ended September 30, 2014 the Company issued 214,500 options with a weighted average fair value of $3.27.
	As of September 30, 2014, there was a total of $1,159,176 of unrecognized compensation cost, adjusted for estimated forfeitures, 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, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	Note 7 – Fair Value Measurements
	The carrying value of the Company’s bank debt approximates fair value. Fair value was determined using a discounted cash flow analysis.

Business_Combination

Business Combination	9 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Business Combination	'
	Note 8 – Business Combination
	On June 2, 2014, the Company purchased certain assets of First Aid Only, Inc. (“First Aid Only”), a supplier of Smart Compliance® first aid kits, refills, and safety products that meet regulatory requirements for a broad range of industries. The Company purchased inventory, accounts receivable, equipment, patents, trademarks and other intellectual property for approximately $13.8 million using funds borrowed under its revolving credit facility with HSBC. The Company recorded approximately $1.7 million for inventory, $2.5 million for accounts receivables and $0.6 million for equipment and other assets, as well as approximately $10.3 million for intangible assets which consist of trade names, customer relationships, covenant not-to-compete and goodwill. In addition, the Company assumed approximately $1.3 million in accounts payables and accrued expenses. During the three and nine months ended September 30, 2014, the Company incurred approximately $20,000 and $100,000, respectively, of integration and transaction costs associated with the acquisition.
	The purchase price was allocated to assets acquired and liabilities assumed as follows (in thousands):
	Assets:
	Accounts Receivable	$	2,544
	Inventory		1,704
	Equipment		463
	Prepaid expenses		110
	Customer Relationships		5,430
	Trade Name		3,410
	Covenant Not-to-Compete		70
	Goodwill		1,340
	Total assets	$	15,071
	Liabilities
	Accounts Payable	$	1,019
	Accrued Expense		252
	Total liabilities	$	1,271
	Net sales for the three and nine months ended September 30, 2014 attributable to First Aid Only were approximately $4.4 million and $6.2 million, respectively. Net income for the three and nine months ended September 30, 2014 attributable to First Aid Only was not material to the Company’s financial statements for the period.
	Assuming First Aid Only was acquired on January 1, 2014, unaudited proforma combined net sales for the nine months ended September 30, 2014 for the Company would have been approximately $89.6 million. Unaudited proforma combined net income for the nine months ended September 30, 2014 for the Company would have been approximately $4.3 million.
	Assuming First Aid Only was acquired on January 1, 2013, unaudited proforma combined net sales for the three and nine months ended September 30, 2013, for the Company would have been approximately $27.2 million and $81.2 million, respectively. Unaudited proforma combined net income for the three and nine months ended September 30, 2013 for the Company would have been approximately $1.3 million and $4.1 million, respectively.

Sale_of_Property

Sale of Property	9 Months Ended
	Sep. 30, 2014
Sale Of Property	'
Sale of Property	'
	Note 9 – Sale of Property
	On April 7, 2014, the Company sold its Fremont, NC plant for $850,000. Under the terms of the sale agreement, the Company is responsible to remediate any environmental contamination on the property. 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, and in conjunction with the sale of the property, the Company recorded a liability of $300,000 in the second quarter of 2014, related to the remediation of the property. The accrual includes the costs of remedial activities and post-remediation operating and maintenance.
	Remediation work on the project began in the third quarter of 2014 and is expected to be completed in the first half of 2015. In addition to the remediation work, 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 will last a period of five years and be complete by the end of 2020.
	The gain on the sale is calculated as follows:
	(in thousands)
	Sales Price		$	850
	Less:
	Transaction costs			75
	Land			140
	Building and Equipment (gross book value)	1,715
	Building and Equipment - accum. Depreciation	1,580
	Building and Equipment (net book value)			135
	Environmental Remediation Liability			300
	Gain on Sale		$	200

Contingencies_Tables

Contingencies (Tables)	9 Months Ended
	Sep. 30, 2014
Contingencies Tables	'
Accrual for Environmental Remediation Table	'
		Balance at		Estimated Costs		Payments			Balance at
		31-Dec-13							30-Sep-14
	Fremont, NC		—	$	300	$	(35	)	$	265
	Bridgeport, CT	$	39		—	$	(22	)	$	17
	Total	$	39	$	300	$	(57	)	$	282

Pension_Tables

Pension (Tables)	9 Months Ended
	Sep. 30, 2014
Pension Tables	'
Components of Net Benefit Cost	'
		Three Months Ended September 30,					Nine Months Ended September 30,
		2014			2013		2014			2013
	Components of net periodic benefit cost:
	Interest cost	$	18		$	5	$	53		$	48
	Service cost		6			13		19			30
	Expected return on plan assets		(23	)		2		(70	)		(53	)
	Amortization of prior service costs		2			3		7			8
	Amortization of actuarial loss		29			29		87			106
		$	32		$	52	$	96		$	139

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2014
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:	2014		2013			2014			2013
	United States	$	25,833	$	18,273		$	69,946		$	55,992
	Canada		2,190		1,782			7,372			6,549
	Europe		1,985		2,080			5,237			5,657
	Consolidated	$	30,008	$	22,135		$	82,555		$	68,198
	Operating income (loss):
	United States	$	1,819	$	1,183		$	5,752		$	4,454
	Canada		94		130			652			592
	Europe		17		96			(115	)		69
	Consolidated	$	1,930	$	1,409		$	6,289		$	5,115
	Interest expense, net		153		99			343			242
	Other expense (income), net		67		(13	)		78			15
	Consolidated income before income taxes	$	1,710	$	1,323		$	5,868		$	4,858
Assets By Segment	'
	Assets by segment:
	( in thousands )
		September 30,		December 31,
		2014		2013
	United States	$	74,258	$	57,068
	Canada		6,090		5,329
	Europe		4,595		5,682
	Consolidated	$	84,943	$	68,079

Business_Combination_Tables

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2014
Business Combination Tables	'
Purchase Price Allocation	'
	Assets:
	Accounts Receivable	$	2,544
	Inventory		1,704
	Equipment		463
	Prepaid expenses		110
	Customer Relationships		5,430
	Trade Name		3,410
	Covenant Not-to-Compete		70
	Goodwill		1,340
	Total assets	$	15,071
	Liabilities
	Accounts Payable	$	1,019
	Accrued Expense		252
	Total liabilities	$	1,271

Sale_of_Property_Tables

Sale of Property (Tables)	9 Months Ended
	Sep. 30, 2014
Sale Of Property Tables	'
Gain on Sale	'
	The gain on the sale is calculated as follows:
	(in thousands)
	Sales Price		$	850
	Less:
	Transaction costs			75
	Land			140
	Building and Equipment (gross book value)	1,715
	Building and Equipment - accum. Depreciation	1,580
	Building and Equipment (net book value)			135
	Environmental Remediation Liability			300
	Gain on Sale		$	200

Contingencies_Details_Narrativ

Contingencies (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2008	Sep. 30, 2014	Dec. 31, 2013	Apr. 07, 2014	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified			Bridgeport, CT	Bridgeport, CT	Bridgeport, CT	Fremont, NC	Fremont, NC	Fremont, NC
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 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.
Proceeds from sale of asset	'	'	$2,500	'	'	$850	'	'
Mortgage receivable from sale of asset	'	'	2,000	'	'	'	'	'
Environmental remediation liability	'	'	1,800	'	'	300	'	'
Accrual for environmental remediation and monitoring	282	39	'	17	39	'	265	0
Accrual for environmental remediation and monitoring, current	'	'	'	$17	'	'	'	'
Minimum environmental remediation monitoring period (in years)	'	'	'	'	'	'5 years	'	'

Contingencies_Accrual_for_Envi

Contingencies - Accrual for Environmental Remediation (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Environmental remediation accrual at December 31, 2013	$39
Estimated Costs	300
Payments	-57
Environmental remediation accrual at September 30, 2014	282
Bridgeport, CT	'
Environmental remediation accrual at December 31, 2013	39
Estimated Costs	0
Payments	-22
Environmental remediation accrual at September 30, 2014	17
Fremont, NC	'
Environmental remediation accrual at December 31, 2013	0
Estimated Costs	300
Payments	-35
Environmental remediation accrual at September 30, 2014	$265

Pension_Details_Narrative

Pension (Details Narrative) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Expected plan contributions during 2014	$200
Plan contributions during period	$160

Pension_Periodic_Benefit_Cost_

Pension - Periodic Benefit Cost (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Components of net periodic benefit cost:	'	'	'	'
Interest cost	$18	$5	$53	$48
Service cost	6	13	19	30
Expected return on plan assets	-23	2	-70	-53
Amortization of prior service costs	2	3	7	8
Amortization of actuarial loss	29	29	87	106
Net periodic benefit cost	$32	$52	$96	$139

Debt_and_Shareholders_Equity_D

Debt and Shareholders' Equity (Details Narrative) (USD $)	1 Months Ended		3 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2013	Apr. 30, 2012	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Apr. 25, 2013	Apr. 05, 2012
Debt And Shareholders Equity Details Narrative	'	'	'	'	'	'	'
Outstanding borrowings under revolving loan agreement	'	'	$30,344	$30,344	$22,912	'	'
Credit facility borrowing capacity	'	'	'	'	'	40,000	30,000
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 continues to be required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio. At September 30, 2014, the Company was in compliance with these covenants.	'	'	'
Common stock issued upon exercise of employee stock options (in shares)	'	'	61,325	74,075	'	'	'
Cash received upon exercise of employee stock options	'	'	$717	$890	'	'	'

Segment_Information_Financial_

Segment Information - Financial Data by Segment (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Sales to external customers	$30,008	$22,135	$82,555	$68,198	'
Operating income (loss)	1,930	1,409	6,289	5,115	'
Interest expense, net	153	99	343	242	'
Other expense (income), net	67	-13	78	15	'
Consolidated income before taxes	1,710	1,323	5,868	4,858	'
Assets	84,943	'	84,943	'	68,079
United States	'	'	'	'	'
Sales to external customers	25,833	18,273	69,946	55,992	'
Operating income (loss)	1,819	1,183	5,752	4,454	'
Assets	74,258	'	74,258	'	57,068
Canada	'	'	'	'	'
Sales to external customers	2,190	1,782	7,372	6,549	'
Operating income (loss)	94	130	652	592	'
Assets	6,090	'	6,090	'	5,329
Europe	'	'	'	'	'
Sales to external customers	1,985	2,080	5,237	5,657	'
Operating income (loss)	17	96	-115	69	'
Assets	$4,595	'	$4,595	'	$5,682

Segment_Information_Details_Na

Segment Information (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Information Details Narrative	'	'	'	'
Direct import sales to total net sales ratio	11.00%	15.00%	16.00%	22.00%

Stock_Based_Compensation_Detai

Stock Based Compensation (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Stock Based Compensation Details Narrative	'	'	'	'
Share-based compensation expense	$151	$116	$451	$388
Stock options granted during period (in shares)	138,000	'	214,500	'
Weighted average fair value of stock options granted during period	$3.23	'	$3.27	'
Unrecognized compensation cost	$1,159	'	$1,159	'
Unrecognized compensation cost recognition period	'	'	'3 years	'

Business_Combination_Details_N

Business Combination (Details Narrative) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 02, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net sales	'	$30,008	$22,135	$82,555	$68,198
First Aid Only, Inc.	'	'	'	'	'
Purchase price	13,800	'	'	'	'
Purchase price allocation to equipment and other assets	600	'	'	'	'
Purchase price allocated to inventory	1,704	'	'	'	'
Purchase price allocated to accounts receivables	2,544	'	'	'	'
Purchase price allocated to intangible assets	10,300	'	'	'	'
Purchase price allocated to accounts payables and accrued expenses	1,200	'	'	'	'
Unaudited proforma net sales during period	'	'	27,200	89,600	81,200
Unaudited proforma net income during period	'	'	1,300	4,300	4,100
Net sales	'	4,400	'	6,200	'
Integration and transaction costs	'	$20	'	$100	'

Business_Combination_Purchase_

Business Combination Purchase Price Allocation (Details) (USD $)	Sep. 30, 2014	Jun. 02, 2014
In Thousands, unless otherwise specified		First Aid Only, Inc.
Accounts Receivable	'	$2,544
Inventory	'	1,704
Equipment	'	463
Prepaid expenses	'	110
Customer Relationships	'	5,430
Trade Name	'	3,410
Covenant Not-to-Compete	'	70
Goodwill	1,340	1,340
Total assets	'	15,071
Accounts Payable	'	1,019
Accrued Expense	'	252
Total liabilities	'	$1,271

Sale_of_Property_Details_Narra

Sale of Property (Details Narrative) (Fremont, NC, USD $)	0 Months Ended
In Thousands, unless otherwise specified	Apr. 07, 2014
Fremont, NC	'
Proceeds from sale of asset	$850
Environmental remediation liability	$300
Minimum environmental remediation monitoring period (in years)	'5 years

Sale_of_Property_Details

Sale of Property (Details) (USD $)	9 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Apr. 07, 2014
		Fremont, NC
Sales Price	'	$850
Less:	'	'
Transaction costs	'	75
Land	'	140
Building and Equipment (gross book value)	'	1,715
Building and Equipment - accum. Depreciation	'	1,580
Building and Equipment (net book value)	'	135
Environmental Remediation Liability	'	300
Gain on Sale	$200	$200