Hardinge 10-Q 7 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 01, 2014
Document and Entity Information	'	'
Entity Registrant Name	'HARDINGE INC.	'
Entity Central Index Key	'0000313716	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	12,825,468
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$22,290	$34,722
Restricted cash	3,469	4,124
Accounts receivable, net	55,301	57,137
Inventories, net	119,330	114,064
Other current assets	11,731	11,563
Total current assets	212,121	221,610
Property, plant and equipment, net	71,898	74,656
Goodwill	11,624	10,002	[1]
Other intangible assets, net	32,425	32,063
Other non-current assets	6,543	5,852
Total non-current assets	122,490	122,573
Total assets	334,611	344,183
Liabilities and shareholders’ equity	'	'
Accounts payable	27,968	24,418
Accrued expenses	23,050	26,346
Customer deposits	12,287	15,166
Accrued income taxes	180	830
Deferred income taxes	2,650	2,569
Contingent consideration	1,500	7,500
Current portion of long-term debt	3,468	7,850
Total current liabilities	71,103	84,679
Long-term debt	15,636	18,785
Pension and postretirement liabilities	27,778	28,188
Deferred income taxes	5,063	4,968
Other liabilities	3,913	3,775
Total non-current liabilities	52,390	55,716
Commitments and contingencies (see Note 10)	'	'
Common stock ($0.01 par value, 20,000,000 authorized; 12,825,468 issued and outstanding as of June 30, 2014, and 12,472,992 issued and outstanding as of December 31, 2013)	128	125
Additional paid-in capital	120,381	114,951
Retained earnings	91,325	90,937
Treasury shares (at cost, none as of June 30, 2014, and 75,125 as of December 31, 2013)	0	-806
Accumulated other comprehensive loss	-716	-1,419
Total shareholders’ equity	211,118	203,788
Total liabilities and shareholders’ equity	$334,611	$344,183
[1]	In accordance with business combination guidance, changes to the purchase price allocation are adjusted retrospectively to the consolidated financial results. The values above include measurement period adjustments recorded in the six months ended June 30, 2014 to primarily revise the fair value of other current assets, accrued expenses and AOCI. The December 31, 2013 balances included in the consolidated balance sheets have been revised to include the effect of the measurement period adjustments.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	12,825,468	12,472,992
Common stock, outstanding (in shares)	12,825,468	12,472,992
Treasury shares (in shares)	0	75,125

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Sales	$78,851	$79,355	$149,701	$146,574
Cost of sales	56,890	56,588	108,520	104,834
Gross profit	21,961	22,767	41,181	41,740
Selling, general and administrative expenses	20,133	19,963	39,253	38,208
Other expense, net	192	139	583	415
Income from operations	1,636	2,665	1,345	3,117
Interest expense	155	311	398	516
Interest income	-12	-14	-32	-29
Income from continuing operations before income taxes	1,493	2,368	979	2,630
Income taxes	144	312	301	534
Net income from continuing operations	1,349	2,056	678	2,096
Gain from disposal of discontinued operation and income from discontinued operations, net of tax	0	209	218	209
Net income	$1,349	$2,265	$896	$2,305
Basic earnings per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.11	$0.18	$0.05	$0.18
Discontinued operations (in dollars per share)	$0	$0.01	$0.02	$0.02
Basic earnings per share (in dollars per share)	$0.11	$0.19	$0.07	$0.20
Diluted earnings per share:	'	'	'	'
Continuing operations (in dollars per share)	$0.11	$0.18	$0.05	$0.18
Discontinued operations (in dollars per share)	$0	$0.01	$0.02	$0.02
Diluted earnings per share (in dollars per share)	$0.11	$0.19	$0.07	$0.20
Cash dividends declared per share: (in dollars per share)	$0.02	$0.02	$0.04	$0.04

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income	$1,349	$2,265	$896	$2,305
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation adjustments	1,242	215	383	-4,844
Retirement plans related adjustments	116	484	234	1,928
Unrealized gain (loss) on cash flow hedges	206	58	-91	-98
Other comprehensive income (loss) before tax	1,564	757	526	-3,014
Income tax expense (benefit)	16	-244	-177	334
Other comprehensive income (loss), net of tax	1,548	1,001	703	-3,348
Total comprehensive income (loss)	$2,897	$3,266	$1,599	($1,043)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating activities	'	'
Net income	$896	$2,305
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	5,049	4,350
Debt issuance costs amortization	23	34
Provision for deferred income taxes	207	-20
Gain on sale of assets	-92	-11
Gain on sale of Forkardt Switzerland	-218	0
Unrealized intercompany foreign currency transaction loss	318	67
Changes in operating assets and liabilities, net of business acquired:	'	'
Accounts receivable	1,945	1,263
Inventories	-4,672	311
Other assets	728	-49
Accounts payable	3,548	-1,174
Customer deposits	-2,853	3,901
Accrued expenses	-4,619	-8,771
Accrued pension and postretirement liabilities	93	-197
Net cash provided by operating activities	353	2,009
Investing activities	'	'
Acquisition of business, net of cash acquired	-3,533	-34,250
Capital expenditures	-1,124	-1,627
Proceeds from disposal of business	218	0
Proceeds on sales of assets	122	102
Net cash used in investing activities	-4,317	-35,775
Financing activities	'	'
Payment of contingent consideration	-6,000	0
Proceeds from short-term notes payable to bank	6,204	32,458
Repayments of short-term notes payable to bank	-6,204	-26,674
Proceeds from long-term debt	0	23,000
Repayments of long-term debt	-7,585	-1,432
Dividends paid	-503	-467
Net proceeds from sale of common stock	5,678	0
Other financing activities	0	-667
Net cash (used in) provided by financing activities	-8,410	26,218
Effect of exchange rate changes on cash	-58	-591
Net decrease in cash	-12,432	-8,139
Cash and cash equivalents at beginning of period	34,722	26,855
Cash and cash equivalents at end of period	$22,290	$18,716

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION
	In these notes, the terms “Hardinge,” or “the Company,” mean Hardinge Inc. and its predecessors together with its subsidiaries.
	The Company operates through two reportable segments, Metalcutting Machine Solutions (“MMS”) and Aftermarket Tooling and Accessories (“ATA”). The MMS segment includes high precision computer controlled metalcutting turning machines, vertical machining centers, horizontal machining centers, grinding machines, and repair parts related to those machines. The ATA segment includes products, primarily collets and chucks that are purchased by manufacturers throughout the lives of their Hardinge or other branded machines.
	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the timing and amount of assets, liabilities, equity, revenue, and expenses reported and disclosed. Actual amounts could differ from these estimates. All adjustments, consisting of normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results for the interim periods have been presented and recorded. Due to differing business conditions and some seasonality, operating results for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected in subsequent quarters or for the full year ended December 31, 2014.
	Certain amounts in the 2013 consolidated financial statements have been reclassified to conform to the current presentation.
	During the quarter ended June 30, 2014, the Company voluntarily changed the date of the annual goodwill and indefinite-lived intangible assets impairment testing from the last day of the fiscal year to the first day of the fourth quarter. This voluntary change is preferable under the circumstances as it provides the Company with additional time to complete the annual goodwill and indefinite-lived intangible asset impairment testing in advance of year-end reporting. The voluntary change in accounting principle related to the annual testing date will not delay, accelerate or avoid an impairment charge. This change was not applied retrospectively, as doing so would require the use of significant estimates and assumptions that include hindsight. Accordingly, the change will be applied prospectively.

ACQUISITION

ACQUISITION	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
ACQUISITION	'
	ACQUISITION
	Acquisition of Forkardt
	On May 9, 2013, Forkardt, Inc. (“Forkardt”, formerly Cherry Acquisition Corporation) and Hardinge Holdings GmbH, direct wholly owned subsidiaries of the Company, and Hardinge GmbH, an indirect wholly owned subsidiary of the Company, acquired the Forkardt operations from Illinois Tool Works for $34.3 million, net of cash acquired. The acquisition of Forkardt strengthens and expands the Company’s leadership position in specialty workholding solutions around the world. The acquisition, which was funded through $24.3 million in bank debt and $10.0 million in cash, has been included in the ATA business segment. Forkardt is a leading global provider of high-precision, specialty workholding devices with headquarters in Traverse City, Michigan. Forkardt has operations in the U.S., France, Germany, and India. The results of operations of Forkardt have been included in the consolidated financial statements from the date of acquisition.
	All purchase accounting adjustments were finalized in the current quarter. The final allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):
		9-May-13
	Assets Acquired
	Accounts receivable	$	5,521
	Inventories	5,357
	Other current assets	1,257
	Property, plant and equipment	6,271
	Other non-current assets	105
	Trade name, customer list, and other intangible assets	14,614
	Total assets acquired	33,125
	Liabilities assumed
	Accounts payable and other current liabilities	3,413
	Other non-current liabilities	1,278
	Net assets acquired	28,434
	Total purchase price	34,250
	Goodwill	$	5,816
	On April 2, 2014, the Company acquired the Forkardt India operations, which had an immaterial impact to the consolidated financial statements.
	Disposal of Forkardt, Switzerland operations
	On December 31, 2013, the Company divested its Forkardt operations in Switzerland for CHF 5.6 million, net of cash sold ($6.3 million equivalent). The sale was subject to working capital adjustments. The Forkardt Swiss business had net assets of $1.2 million as of the sale date. In March 2014, the Company recognized $0.2 million of additional consideration as a result of final working capital adjustments, which is included in gain from disposal of discontinued operation and income from discontinued operation, net of tax line in the Statement of Operations for the six months ended June 30, 2014.
	Supplemental Pro Forma Information
	The following table illustrates the unaudited pro forma effect on the Company’s consolidated operating results for the three and six months ended June 30, 2014 and 2013, as if the Forkardt acquisition and related financing occurred on January 1, 2012 (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Sales	$	78,851	$	82,556	$	149,701	$	160,034
	Net income from continuing operations	1,415		2,687		823		3,756
	Diluted earnings per share from continuing operations	$	0.11	$	0.23	$	0.06	$	0.32
	The above unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what the results of operations would have been had the acquisition been completed on the date assumed, nor is it necessarily indicative of the results that may be expected in future periods. Pro forma adjustments exclude cost savings from any synergies resulting from the acquisition.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
INVENTORIES	'
	INVENTORIES
	Net inventories are stated at the lower of cost (computed in accordance with the first-in, first-out method) or market. Elements of the cost include materials, labor and overhead.
	Net inventories consist of the following (in thousands):
		June 30,		December 31,
		2014		2013
	Raw materials and purchased components	$	32,993	$	32,046
	Work-in-process	30,595		28,591
	Finished products	55,742		53,427
	Inventories, net	$	119,330	$	114,064

FAIR_VALUE_AND_DERIVATIVE_INST

FAIR VALUE AND DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2014
FAIR VALUE AND DERIVATIVE INSTRUMENTS	'
FAIR VALUE AND DERIVATIVE INSTRUMENTS	'
	FAIR VALUE AND DERIVATIVE INSTRUMENTS
	Fair Value
	The inputs to the valuation techniques used to measure fair value are classified into the following categories:
	Level 1 — Quoted prices in active markets for identical assets and liabilities.
	Level 2 — Observable inputs other than quoted prices in active markets for similar assets and liabilities.
	Level 3 — Inputs for which significant valuation assumptions are unobservable in a market and therefore value is based on the best available data, some of which is internally developed and considers risk premiums that a market participant would require.
	The following table presents the carrying amount, fair values, and classification level within the fair value hierarchy of financial instruments measured or disclosed at fair value on a recurring basis (in thousands):
		30-Jun-14						31-Dec-13				Level of Fair Value Hierarchy
		Carrying Amount			Fair Value			Carrying Amount		Fair Value
	Assets:
	Cash and cash equivalents	$	22,290		$	22,290		$	34,722	$	34,722	Level 1
	Restricted cash	3,469			3,469			4,124		4,124		Level 1
	Foreign currency forward contracts	306			306			285		285		Level 2
	Liabilities:
	Variable interest rate debt	19,104			19,104			26,635		26,635		Level 2
	Contingent consideration	1,500			1,500			7,500		7,500		Level 3
	Foreign currency forward contracts	378			378			872		872		Level 2
	The fair value of cash and cash equivalents and restricted cash are based on the fair values of identical assets in active markets. Due to the short period to maturity or the nature of the underlying liability, the fair value of notes payable to bank and variable interest rate debt approximates their respective carrying amounts. The contingent consideration represents the contingent liabilities associated with the earn-out provisions from the 2012 acquisition of Usach. The fair value of the contingent purchase price liability is based on the present value of the estimated aggregated payment amount. The fair value of foreign currency forward contracts is measured using internal models based on observable market inputs such as spot and forward rates. Based on the Company’s continued ability to enter into forward contracts, the markets for the fair value instruments are considered to be active. As of June 30, 2014 and December 31, 2013, there were no significant transfers in and/or out of Level 1 and Level 2.
	The following table presents a reconciliation of the changes during the period ended June 30, 2014 for items categorized within level 3 of the fair value hierarchy:
		Contingent Consideration
	Balance at December 31, 2013	$	7,500
	Current period settlement (payment)	(6,000		)
	Balance at June 30, 2014	$	1,500
	Derivative Instruments
	Foreign currency forward contracts are utilized to mitigate the impact of currency fluctuations on assets and liabilities denominated in foreign currencies as well as on forecasted transactions denominated in foreign currencies. These contracts are considered derivative instruments and are recognized as either assets or liabilities and measured at fair value. For contracts that are designated and qualify as cash flow hedges, the gain or loss on the contracts is reported as a component of other comprehensive income (“OCI”) and reclassified from accumulated other comprehensive income (“AOCI”) into the “Sales” or “Cost of sales” line item on the Consolidated Statements of Operations when the underlying hedged transaction affects earnings, or “Other expense, net” when the hedging relationship is deemed to be no longer effective. As of June 30, 2014 and December 31, 2013, the notional amounts of the derivative financial instruments designated to qualify for cash flow hedges were $24.1 million and $37.0 million, respectively. The Company expects less than $0.1 million of net losses, net of income tax effect, to be reclassified from AOCI to earnings within the next 12 months.
	As of June 30, 2014 and December 31, 2013, the notional amounts of the derivative financial instruments not qualifying or otherwise designated as hedges were $43.5 million and $45.5 million, respectively. For the three months ended June 30, 2014 and 2013, gains of $0.3 million and losses of $0.7 million, respectively, were recorded related to this type of derivative financial instruments. For the six months ended June 30, 2014 and 2013, losses of $0.5 million and $1.3 million, respectively, were recorded related to this type of derivative financial instruments. For contracts that are not designated as hedges, the gain or loss on the contract is recognized in current earnings in the “Other expense, net” line item on the Consolidated Statements of Operations.
	The following table presents the fair value on the Consolidated Balance Sheets of the foreign currency forward contracts (in thousands):
		June 30,			December 31,
		2014			2013
	Foreign currency forwards designated as hedges:
	Other current assets	$	103		$	144
	Accrued expenses	(78		)	(249		)
	Foreign currency forwards not designated as hedges:
	Other current assets	203			141
	Accrued expenses	(300		)	(623		)
	Foreign currency forwards, net	$	(72	)	$	(587	)

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
PROPERTY, PLANT AND EQUIPMENT	'
	PROPERTY, PLANT AND EQUIPMENT
	Property, plant and equipment consist of the following(1) (in thousands):
		June 30,			December 31,
		2014			2013
	Land, buildings and improvements	$	88,461		$	88,295
	Machinery, equipment and fixtures	80,268			80,584
	Office furniture, equipment and vehicles	22,827			23,421
	Construction in progress	112			217
		191,668			192,517
	Accumulated depreciation	(119,770		)	(117,861		)
	Property, plant and equipment, net	$	71,898		$	74,656
	____________________
	(1)	During the six months ended June 30, 2014, the Company reclassified balances related to cost and accumulated depreciation. The net property, plant and equipment balance was not impacted by this adjustment. The December 31, 2013 balances have been reclassified to reflect the proper presentation.

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
GOODWILL AND INTANGIBLE ASSETS	'
	GOODWILL AND INTANGIBLE ASSETS
	Detail and activity of goodwill by segment is presented below (in thousands):
		MMS			ATA			Total
	Balance at December 31, 2013(1)	$	4,848		$	5,154		$	10,002
	Acquisition of Forkardt India	—			1,626			1,626
	Currency translation adjustments	—			(4		)	(4		)
	Balance at June 30, 2014	$	4,848		$	6,776		$	11,624
	____________________
	(1)	In accordance with business combination guidance, changes to the purchase price allocation are adjusted retrospectively to the consolidated financial results. The values above include measurement period adjustments recorded in the six months ended June 30, 2014 to primarily revise the fair value of other current assets, accrued expenses and AOCI. The December 31, 2013 balances included in the consolidated balance sheets have been revised to include the effect of the measurement period adjustments.
	The gross carrying value of goodwill at June 30, 2014 and December 31, 2013 was $39.2 million and $37.6 million respectively. Accumulated impairment losses at both June 30, 2014 and December 31, 2013 were $27.6 million.
	The major components of intangible assets other than goodwill are as follows (in thousands):
		June 30,			December 31,
		2014			2013
	Gross amortizable intangible assets:
	Land rights	$	2,797		$	2,865
	Patents	3,052			3,030
	Technical know-how, customer lists, and other	22,661			21,375
	Total gross amortizable intangible assets	28,510			27,270
	Accumulated amortization:
	Land rights	(200		)	(177		)
	Patents	(2,918		)	(2,884		)
	Technical know-how, customer lists, and other	(6,058		)	(5,220		)
	Total accumulated amortization	(9,176		)	(8,281		)
	Amortizable intangible assets, net	19,334			18,989
	Indefinite lived intangible assets:
	Assets associated with Bridgeport acquisition(1)	7,371			7,354
	Usach trade name(2)	1,550			1,550
	Forkardt trade name(3)	4,170			4,170
		13,091			13,074
	Intangible assets other than goodwill, net	$	32,425		$	32,063
	____________________
	(1)	Represents the aggregate value of the trade name, trademarks and copyrights associated with the former worldwide operations of Bridgeport. The Bridgeport brand name is used on all of the machining center lines. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
	(2)	Represents the value of the trade name associated with Usach, which the Company acquired in 2012. The Usach trade name is used on all of the grinding machines and grinding systems manufactured by Usach. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
	(3)	Represents the value of the trade name associated with Forkardt, which the Company acquired in 2013. The Forkardt trade name is used on all of the products manufactured by Forkardt. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
	Amortization expense related to these amortizable intangible assets was $0.5 million and $0.4 million for the three months ended June 30, 2014 and 2013, respectively, and $0.9 million and $0.7 million for the six months ended June 30, 2014 and 2013, respectively.

WARRANTIES

WARRANTIES	6 Months Ended
	Jun. 30, 2014
Product Warranties Disclosures [Abstract]	'
WARRANTIES	'
	WARRANTIES
	A reconciliation of the changes in the product warranty accrual, which is included in accrued expenses, is as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Balance at the beginning of period	$	3,403		$	3,094		$	3,601		$	3,432
	Warranties issued	613			707			1,212			1,395
	Warranty settlement costs	(512		)	(706		)	(1,132		)	(1,328		)
	Changes in accruals for pre-existing warranties	(105		)	(183		)	(284		)	(470		)
	Other adjustments(1)	—			331			—			331
	Currency translation adjustments	10			6			12			(111		)
	Balance at the end of period	$	3,409		$	3,249		$	3,409		$	3,249
	____________________
	(1)	Represents the warranty liabilities assumed in connection with the Forkardt acquisition. Refer to Note 2. "Acquisition" for details.

FINANCING_ARRANGEMENTS

FINANCING ARRANGEMENTS	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
FINANCING ARRANGEMENTS	'
	FINANCING ARRANGEMENTS
	See Note 6. “Financing Arrangements” of the 2013 Annual Report on Form 10-K for a description of the financing arrangements in place as of December 31, 2013.
	In January 2014, Hardinge Jiaxing amended its secured credit facility with a local bank. The amendment increased the total availability under the facility from CNY 34.2 million (approximately $5.5 million) to CNY 59.0 million (approximately $9.5 million) or its equivalent in other currencies. The facility, which expires on December 20, 2014, is available for working capital and letter of credit purposes. Borrowings for working capital purposes are limited to CNY 39.0 million (approximately $6.3 million). The facility is secured by real property owned by the subsidiary. The interest rate on the credit facility, currently at 6.60%, is based on the basic interest rate as published by the People’s Bank of China, plus a 10% mark-up.
	In June 2014, Hardinge Machine Tools B.V., Taiwan Branch, a wholly-owned subsidiary in Taiwan, renewed its unsecured credit facility, which will expire in June 2015 under the renewal. This facility provides up to $12.0 million, or its equivalent in other currencies, for working capital and export business purposes. This credit facility charges interest at 1.5% and is subject to change by the lender based on market conditions and carries no commitment fees on unused funds. There was no principal amount outstanding under this facility at June 30, 2014.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES
	A valuation allowance is recorded against all or a portion of the deferred tax assets in the U.S., Canada, U.K., Germany, and the Netherlands.
	Each quarter, a full year tax rate is estimated for jurisdictions not subject to valuation allowances based upon the most recent forecast of full year anticipated results and the year-to-date tax expense is adjusted to reflect the full year anticipated tax rate. The rate is an estimate based upon projected results for the year, estimated annual permanent differences, the statutory tax rates in the various jurisdictions in which the Company operates, and the non-recognition of tax benefits for entities with full valuation allowances. The overall effective tax rates were tax expense of 9.6% and 30.7% for the three and six months ended June 30, 2014, respectively.
	The tax years 2011, 2012 and 2013 remain open to examination by the U.S. federal taxing authorities. The tax years 2009 through 2013 remain open to examination by the U.S. state taxing authorities. For other major jurisdictions (Switzerland, U.K., Taiwan, France, Germany, Netherlands and China); the tax years between 2007 and 2013 generally remain open to routine examination by foreign taxing authorities, depending on the jurisdiction.
	At June 30, 2014, a liability of $2.8 million is recorded with respect to uncertain income tax positions, which includes related interest and penalties of $1.0 million. If recognized, essentially all of the uncertain tax positions and related interest at June 30, 2014 would be recorded as a benefit to income tax expense on the Consolidated Statement of Operations. It is reasonably possible that some of the uncertain tax positions pertaining to foreign operations may change within the next 12 months due to audit settlements and statute of limitations expirations. The change in uncertain tax positions for these items is estimated to be between $0.3 million and $1.1 million.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	The Company is a defendant in various lawsuits as a result of normal operations and in the ordinary course of business. Management believes the outcome of these lawsuits will not have a material effect on the financial position or results of operations.
	The Company’s operations are subject to extensive federal, state, local and foreign laws and regulations relating to environmental matters. Certain environmental laws can impose joint and several liabilities for releases or threatened releases of hazardous substances upon certain statutorily defined parties regardless of fault or the lawfulness of the original activity or disposal. Hazardous substances and adverse environmental effects have been identified with respect to real property owned by the Company, and on adjacent parcels of real property.
	In particular, the Elmira, NY manufacturing facility is located within the Kentucky Avenue Wellfield on the National Priorities List of hazardous waste sites designated for cleanup by the United States Environmental Protection Agency (“EPA”) because of groundwater contamination. The Kentucky Avenue Wellfield Site (the “Site”) encompasses an area which includes sections of the Town of Horseheads and the Village of Elmira Heights in Chemung County, NY. In February 2006, the Company received a Special Notice Concerning a Remedial Investigation/Feasibility Study (“RI/FS”) for the Koppers Pond (the “Pond”) portion of the Site. The EPA documented the release and threatened release of hazardous substances into the environment at the Site, including releases into and in the vicinity of the Pond. The hazardous substances, including metals and polychlorinated biphenyls, have been detected in sediments in the Pond.
	Until receipt of this Special Notice in February 2006, the Company had never been named as a potentially responsible party (“PRP”) at the Site nor had the Company received any requests for information from the EPA concerning the Site. Environmental sampling on the Company’s property within this Site under supervision of regulatory authorities had identified off-site sources for such groundwater contamination and sediment contamination in the Pond, and found no evidence that the Company’s operations or property have contributed or are contributing to the contamination. All appropriate insurance carriers have been notified, and the Company is actively cooperating with them, but whether coverage will be available has not yet been determined and possible insurance recovery cannot now be estimated with any degree of certainty.
	A substantial portion of the Pond is located on the Company’s property. The Company, along with Beazer East, Inc., the Village of Horseheads, the Town of Horseheads, the County of Chemung, CBS Corporation and Toshiba America, Inc., the PRPs, have agreed to voluntarily participate in the Remedial Investigation and Feasibility Study (“RI/FS”) by signing an Administrative Settlement Agreement and Order of Consent on September 29, 2006. On September 29, 2006, the Director of Emergency and Remedial Response Division of the EPA, Region II, approved and executed the Agreement on behalf of the EPA. The PRPs also signed a PRP Member Agreement, agreeing to share the cost of the RI/FS study on a per capita basis.
	The EPA approved the RI/FS Work Plan in May of 2008. On September 7, 2011, the PRPs submitted the draft Remedial Investigation Report to the EPA and on January 10, 2013, the draft Feasibility Study was submitted to the EPA.
	The draft Feasibility Study identified alternative remedial actions with estimated life-cycle costs ranging from $0.7 million to $3.4 million. The Company’s portion of the potential costs are estimated to range from $0.1 million to $0.5 million. Based on the current estimated costs of the various remedial alternatives now under consideration by the EPA, a reserve of $0.2 million has been recorded for the Company’s share of remediation expenses at the Pond as of June 30, 2014. This reserve is reported as an accrued expense on the Consolidated Balance Sheets.
	Based upon information currently available, except as described in the preceding paragraphs, the Company does not have material liabilities for environmental remediation. Though the foregoing reflects the Company’s current assessment as it relates to environmental remediation obligations, it is possible that future remedial requirements or changes in the enforcement of existing laws and regulations, which are subject to extensive regulatory discretion, will result in material liabilities to the Company.

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCK BASED COMPENSATION	'
	STOCK BASED COMPENSATION
	All stock based compensation to employees is recorded as selling, general and administrative expenses in the Consolidated Statements of Operations based on the fair value at the grant date of the award. These non-cash compensation costs are included in the depreciation and amortization amounts in the Consolidated Statements of Cash Flows.
	A summary of stock based compensation expense is as follows (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Restricted stock/unit awards (“RSA”)	$	109	$	92	$	218	$	191
	Performance share incentives (“PSI”)	—		43		—		61
		$	109	$	135	$	218	$	252
	There were no RSAs granted during the six months ended June 30, 2014, and 2013, respectively. The deferred compensation is being amortized on a straight-line basis over the specified service period. There were no PSIs granted during the six months ended June 30, 2014 and 2013, respectively. The deferred compensation with respect to the PSIs is being recognized into earnings based on the passage of time and achievement of performance targets. All outstanding RSAs and PSIs are unvested.
	Unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs as of June 30, 2014 and December 31, 2013, are as follows:
		June 30,		December 31,
		2014		2013
	Unrecognized compensation cost (in thousands)	$	961	$	1,179
	Expected weighted-average recognition period for unrecognized compensation cost (in years)	2.1		2.6

STOCK_OFFERING

STOCK OFFERING	6 Months Ended
	Jun. 30, 2014
STOCK OFFERING	'
STOCK OFFERING	'
	STOCK OFFERING
	On August 9, 2013, the Company entered into a sales agreement (the “Agreement”) with an independent sales agent (“Agent”), under which the Company may, from time to time, sell shares of its common stock, par value $0.01 per share (the “Shares”), having an aggregate offering price of up to $25.0 million through the Agent. Under the Agreement, the Agent may sell the Shares by methods deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on the NASDAQ Global Select Market, on any other existing trading market for the common stock or to or through a market maker. In addition, with the prior consent of the Company, the Agent may sell the common stock by any other method permitted by law, including in privately negotiated transactions.
	The Agreement will terminate upon the earlier of (i) sale of the Shares under the Agreement having an aggregate offering price of $25.0 million and (ii) the termination of the Agreement as permitted therein. The Agreement may be terminated by the Agent or the Company at any time upon 10 days notice to the other party, or by the Agent at any time in certain circumstances, including the occurrence of a material adverse change in the Company. The Board has authorized this program for a period of one year ending August 8, 2014.
	As of June 30, 2014, 1,014,252 Shares have been sold for aggregated net proceeds of $14.6 million, of which 663,276 of the shares sold were issued from treasury. During the three months ended June 30, 2014, 33,492 Shares of common stock have been sold under the “at-the-market” stock offering program for aggregate net proceeds of $0.4 million, none of which were issued from treasury. During the six months ended June 30, 2014, 403,863 Shares of common stock have been sold under the “at-the-market” stock offering program for aggregate net proceeds of $5.7 million, of which 52,887 of the shares sold were issued from treasury.

CHANGES_IN_ACCUMULATED_OTHER_C

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	'
	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	Changes in AOCI by component for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
		Three Months Ended June 30, 2014
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	37,957			$	(40,074	)		$	(147	)		$	(2,264	)
	Other comprehensive income before reclassifications	1,242				365				261				1,868
	Less income reclassified from AOCI	—				249				55				304
	Net other comprehensive income	1,242				116				206				1,564
	Income taxes	(17		)		(1		)		34				16
	Ending balance, net of tax	$	39,216			$	(39,957	)		$	25			$	(716	)
		Three Months Ended June 30, 2013
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	31,309			$	(61,115	)		$	(52	)		$	(29,858	)
	Other comprehensive income before reclassifications	215				1,048				138				1,401
	Less income reclassified from AOCI	—				564				80				644
	Net other comprehensive income	215				484				58				757
	Income taxes	(322		)		26				52				(244		)
	Ending balance, net of tax	$	31,846			$	(60,657	)		$	(46	)		$	(28,857	)
		Six Months Ended June 30, 2014
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	38,663			$	(40,213	)		$	131			$	(1,419	)
	Other comprehensive income (loss) before	383				731				(113		)		1,001
	reclassifications
	Less income (loss) reclassified from AOCI	—				497				(22		)		475
	Net other comprehensive income (loss)	383				234				(91		)		526
	Income taxes	(170		)		(22		)		15				(177		)
	Ending balance, net of tax	$	39,216			$	(39,957	)		$	25			$	(716	)
		Six Months Ended June 30, 2013
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	36,830			$	(62,375	)		$	36			$	(25,509	)
	Other comprehensive (loss) income before	(4,844		)		3,060				(108		)		(1,892		)
	reclassifications
	Less income (loss) reclassified from AOCI	—				1,132				(10		)		1,122
	Net other comprehensive (loss) income	(4,844		)		1,928				(98		)		(3,014		)
	Income taxes	140				210				(16		)		334
	Ending balance, net of tax	$	31,846			$	(60,657	)		$	(46	)		$	(28,857	)
	Details about reclassification out of AOCI for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
			Three Months Ended								Six Months Ended							Affected line item on the Consolidated Statements of Operations
			June 30,								June 30,
	Details of AOCI components		2014				2013				2014				2013
	Unrealized gain (loss) on cash flow hedges:
			$	52			$	55			$	81			$	(44	)	Sales
			3				25				(103		)		34			Other expense, net
			55				80				(22		)		(10		)	Total before tax
			15				(13		)		13				5			Tax (expense) benefit
			$	70			$	67			$	(9	)		$	(5	)	Net of tax
	Retirement plans related adjustments:
	Amortization of prior service credit		$	(102	)		$	(165	)		$	(204	)		$	(332	)	(a)
	Amortization of transition asset		(71		)		(67		)		(142		)		(135		)	(a)
	Amortization of actuarial loss		422				796				843				1,599			(a)
			249				564				497				1,132			Total before tax
		2				(42		)		4				(85		)	Tax benefit (expense)
		$	251			$	522			$	501			$	1,047		Net of tax
____________________
(a)  These AOCI components are included in the computation of net period pension and post retirement costs. See Note 14. "Pension and Postretirement Plans" for details.

PENSION_AND_POSTRETIREMENT_PLA

PENSION AND POSTRETIREMENT PLANS	6 Months Ended
	Jun. 30, 2014
Pension and Other Postretirement Benefit Expense [Abstract]	'
PENSION AND POSTRETIREMENT PLANS	'
	PENSION AND POSTRETIREMENT PLANS
	A summary of the components of net periodic pension benefit costs for the three and six months ended June 30, 2014 and 2013 is presented below (in thousands):
		Pension Benefits						Postretirement Benefits
		Three Months Ended						Three Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	362		$	342		$	3		$	4
	Interest cost	2,124			1,835			22			23
	Expected return on plan assets	(2,501		)	(2,352		)	—			—
	Amortization of prior service credit	(102		)	(101		)	—			(64		)
	Amortization of transition asset	(71		)	(67		)	—			—
	Amortization of actuarial loss (gain)	436			797			(14		)	(1		)
	Net periodic cost (benefit)	$	248		$	454		$	11		$	(38	)
		Pension Benefits						Postretirement Benefits
		Six Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	726		$	690		$	6		$	8
	Interest cost	4,244			3,678			44			46
	Expected return on plan assets	(4,996		)	(4,717		)	—			—
	Amortization of prior service credit	(204		)	(204		)	—			(128		)
	Amortization of transition asset	(142		)	(135		)	—			—
	Amortization of loss (gain)	871			1,601			(28		)	(2		)
	Net periodic cost (benefit)	$	499		$	913		$	22		$	(76	)

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	Basic earnings per share is computed using the weighted average number of shares of common stock outstanding during the period. For diluted earnings per share, the weighted average number of shares includes common stock equivalents related to stock options and restricted stock. The following table presents the basis of the earnings per share computation (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Numerator for basic and diluted earnings per share:
	Earnings from continuing operations	$	1,349	$	2,056	$	678	$	2,096
	Gain from disposal of discontinued operation and income from	—		209		218		209
	discontinued operations, net of tax
	Net earnings applicable to common shareholders	$	1,349	$	2,265	$	896	$	2,305
	Denominator:
	Denominator for basic earnings per share — weighted average	12,715		11,663		12,607		11,662
	shares
	Assumed exercise of stock options	24		27		24		27
	Assumed satisfaction of restricted stock conditions	81		64		78		60
	Denominator for diluted earnings per share — adjusted weighted	12,820		11,754		12,709		11,749
	average shares
	Shares of certain stock-based awards totaling 45,033 and 49,166 were excluded from the calculation of diluted earnings per share for three months ended June 30, 2014 and 2013, respectively, as they were anti-dilutive. For the six months ended June 30, 2014 and 2013, there were 48,053 shares and 56,390 shares, respectively, of certain stock-based compensation awards excluded from the calculation of diluted earnings per share, as they were anti-dilutive.

SEGMENT_INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	SEGMENT INFORMATION
	Segment income is measured for internal reporting purposes by excluding corporate expenses, interest income, interest expense, and income taxes. Corporate expenses consist primarily of executive employment costs, certain professional fees, and costs associated with the Company’s global headquarters. Financial results for each reportable segment are as follows (in thousands):
		Three Months Ended June 30, 2014
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	61,435		$	17,495		$	(79	)	$	78,851
	Depreciation and amortization	1,756			647						2,403
	Segment income	964			1,926						2,890
	Capital expenditures	421			378						799
		Three Months Ended June 30, 2013
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	66,817		$	12,665		$	(127	)	$	79,355
	Depreciation and amortization	1,686			540						2,226
	Segment income	3,213			1,783						4,996
	Capital expenditures	628			148						776
		Six Months Ended June 30, 2014
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	115,624		$	34,228		$	(151	)	$	149,701
	Depreciation and amortization	3,534			1,287						4,821
	Segment (loss) income	(13		)	3,734						3,721
	Capital expenditures	679			445						1,124
	Segment assets(1)	250,002			57,333						307,335
		Six Months Ended June 30, 2013
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	126,890		$	19,986		$	(302	)	$	146,574
	Depreciation and amortization	3,360			723						4,083
	Segment income	4,075			2,900						6,975
	Capital expenditures	1,136			491						1,627
	Segment assets(1)	264,704			58,086						322,790
	____________________
	(1)	Segment assets primarily consist of restricted cash, accounts receivable, inventories, prepaid and other assets, property, plant and equipment, and intangible assets. Unallocated assets primarily include, cash and cash equivalents, corporate property, plant and equipment, deferred income taxes, and other non-current assets.
	A reconciliation of segment income to consolidated income from operations before income taxes for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Segment income	$	2,890		$	4,996		$	3,721		$	6,975
	Unallocated corporate expense	(1,170		)	(492		)	(2,292		)	(1,516		)
	Interest expense, net	(143		)	(297		)	(366		)	(487		)
	Other unallocated expense	(84		)	(1,839		)	(84		)	(2,342		)
	Income from continuing operations before income taxes	$	1,493		$	2,368		$	979		$	2,630
	A reconciliation of segment assets to consolidated total assets follows (in thousands):
		June 30,			December 31,
		2014			2013
	Total segment assets	$	307,335		$	303,423
	Unallocated assets	27,276			40,760
	Total assets	$	334,611		$	344,183
	Unallocated assets include cash of $22.3 million and $34.7 million at June 30, 2014 and December 31, 2013, respectively.

NEW_ACCOUNTING_STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
NEW ACCOUNTING STANDARDS	'
	NEW ACCOUNTING STANDARDS
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on accounting for revenue recognition. The objective of this guidance is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that an entity recognizes 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. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This guidance applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt this guidance. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on the financial statements, nor decided upon the method of adoption.
	In April 2014, FASB issued authoritative guidance on the presentation and disclosure of discontinued operations. This guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been previously reported in financial statements. Management does not believe that the adoption of this accounting guidance will have a material impact on the financial statements.

BASIS_OF_PRESENTATION_Goodwill

BASIS OF PRESENTATION Goodwill and Intangible Assets (Policies)	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets, Policy [Policy Text Block]	'
	During the quarter ended June 30, 2014, the Company voluntarily changed the date of the annual goodwill and indefinite-lived intangible assets impairment testing from the last day of the fiscal year to the first day of the fourth quarter. This voluntary change is preferable under the circumstances as it provides the Company with additional time to complete the annual goodwill and indefinite-lived intangible asset impairment testing in advance of year-end reporting. The voluntary change in accounting principle related to the annual testing date will not delay, accelerate or avoid an impairment charge. This change was not applied retrospectively, as doing so would require the use of significant estimates and assumptions that include hindsight. Accordingly, the change will be applied prospectively.
New Accounting Standards	'
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on accounting for revenue recognition. The objective of this guidance is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that an entity recognizes 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. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This guidance applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt this guidance. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on the financial statements, nor decided upon the method of adoption.
	In April 2014, FASB issued authoritative guidance on the presentation and disclosure of discontinued operations. This guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been previously reported in financial statements. Management does not believe that the adoption of this accounting guidance will have a material impact on the financial statements.

ACQUISITION_Tables

ACQUISITION (Tables)	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	'
	The final allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):
		9-May-13
	Assets Acquired
	Accounts receivable	$	5,521
	Inventories	5,357
	Other current assets	1,257
	Property, plant and equipment	6,271
	Other non-current assets	105
	Trade name, customer list, and other intangible assets	14,614
	Total assets acquired	33,125
	Liabilities assumed
	Accounts payable and other current liabilities	3,413
	Other non-current liabilities	1,278
	Net assets acquired	28,434
	Total purchase price	34,250
	Goodwill	$	5,816
Schedule of unaudited pro forma effect on consolidated operating results	'
	The following table illustrates the unaudited pro forma effect on the Company’s consolidated operating results for the three and six months ended June 30, 2014 and 2013, as if the Forkardt acquisition and related financing occurred on January 1, 2012 (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Sales	$	78,851	$	82,556	$	149,701	$	160,034
	Net income from continuing operations	1,415		2,687		823		3,756
	Diluted earnings per share from continuing operations	$	0.11	$	0.23	$	0.06	$	0.32

INVENTORIES_Tables

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of net inventories	'
	Net inventories consist of the following (in thousands):
		June 30,		December 31,
		2014		2013
	Raw materials and purchased components	$	32,993	$	32,046
	Work-in-process	30,595		28,591
	Finished products	55,742		53,427
	Inventories, net	$	119,330	$	114,064

FAIR_VALUE_AND_DERIVATIVE_INST1

FAIR VALUE AND DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
FAIR VALUE AND DERIVATIVE INSTRUMENTS	'
Schedule of carrying amount, fair values and classification of financial instruments measured or disclosed at fair value on a recurring basis	'
	The following table presents the carrying amount, fair values, and classification level within the fair value hierarchy of financial instruments measured or disclosed at fair value on a recurring basis (in thousands):
		30-Jun-14						31-Dec-13				Level of Fair Value Hierarchy
		Carrying Amount			Fair Value			Carrying Amount		Fair Value
	Assets:
	Cash and cash equivalents	$	22,290		$	22,290		$	34,722	$	34,722	Level 1
	Restricted cash	3,469			3,469			4,124		4,124		Level 1
	Foreign currency forward contracts	306			306			285		285		Level 2
	Liabilities:
	Variable interest rate debt	19,104			19,104			26,635		26,635		Level 2
	Contingent consideration	1,500			1,500			7,500		7,500		Level 3
	Foreign currency forward contracts	378			378			872		872		Level 2
Schedule of fair value hierarchy activity during the year	'
	The following table presents a reconciliation of the changes during the period ended June 30, 2014 for items categorized within level 3 of the fair value hierarchy:
		Contingent Consideration
	Balance at December 31, 2013	$	7,500
	Current period settlement (payment)	(6,000		)
	Balance at June 30, 2014	$	1,500
Schedule of fair value on the Consolidated Balance Sheets of the foreign currency forward contracts	'
	The following table presents the fair value on the Consolidated Balance Sheets of the foreign currency forward contracts (in thousands):
		June 30,			December 31,
		2014			2013
	Foreign currency forwards designated as hedges:
	Other current assets	$	103		$	144
	Accrued expenses	(78		)	(249		)
	Foreign currency forwards not designated as hedges:
	Other current assets	203			141
	Accrued expenses	(300		)	(623		)
	Foreign currency forwards, net	$	(72	)	$	(587	)

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of components of property, plant and equipment, net	'
	Property, plant and equipment consist of the following(1) (in thousands):
		June 30,			December 31,
		2014			2013
	Land, buildings and improvements	$	88,461		$	88,295
	Machinery, equipment and fixtures	80,268			80,584
	Office furniture, equipment and vehicles	22,827			23,421
	Construction in progress	112			217
		191,668			192,517
	Accumulated depreciation	(119,770		)	(117,861		)
	Property, plant and equipment, net	$	71,898		$	74,656
	____________________
	(1)	During the six months ended June 30, 2014, the Company reclassified balances related to cost and accumulated depreciation. The net property, plant and equipment balance was not impacted by this adjustment. The December 31, 2013 balances have been reclassified to reflect the proper presentation.

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Summary of detail and activity of goodwill by segment	'
	Detail and activity of goodwill by segment is presented below (in thousands):
		MMS			ATA			Total
	Balance at December 31, 2013(1)	$	4,848		$	5,154		$	10,002
	Acquisition of Forkardt India	—			1,626			1,626
	Currency translation adjustments	—			(4		)	(4		)
	Balance at June 30, 2014	$	4,848		$	6,776		$	11,624
	____________________
	(1)	In accordance with business combination guidance, changes to the purchase price allocation are adjusted retrospectively to the consolidated financial results. The values above include measurement period adjustments recorded in the six months ended June 30, 2014 to primarily revise the fair value of other current assets, accrued expenses and AOCI. The December 31, 2013 balances included in the consolidated balance sheets have been revised to include the effect of the measurement period adjustments.
Summary of the major components of intangible assets other than goodwill	'
	The major components of intangible assets other than goodwill are as follows (in thousands):
		June 30,			December 31,
		2014			2013
	Gross amortizable intangible assets:
	Land rights	$	2,797		$	2,865
	Patents	3,052			3,030
	Technical know-how, customer lists, and other	22,661			21,375
	Total gross amortizable intangible assets	28,510			27,270
	Accumulated amortization:
	Land rights	(200		)	(177		)
	Patents	(2,918		)	(2,884		)
	Technical know-how, customer lists, and other	(6,058		)	(5,220		)
	Total accumulated amortization	(9,176		)	(8,281		)
	Amortizable intangible assets, net	19,334			18,989
	Indefinite lived intangible assets:
	Assets associated with Bridgeport acquisition(1)	7,371			7,354
	Usach trade name(2)	1,550			1,550
	Forkardt trade name(3)	4,170			4,170
		13,091			13,074
	Intangible assets other than goodwill, net	$	32,425		$	32,063
	____________________
	(1)	Represents the aggregate value of the trade name, trademarks and copyrights associated with the former worldwide operations of Bridgeport. The Bridgeport brand name is used on all of the machining center lines. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
	(2)	Represents the value of the trade name associated with Usach, which the Company acquired in 2012. The Usach trade name is used on all of the grinding machines and grinding systems manufactured by Usach. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
	(3)	Represents the value of the trade name associated with Forkardt, which the Company acquired in 2013. The Forkardt trade name is used on all of the products manufactured by Forkardt. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.

WARRANTIES_Tables

WARRANTIES (Tables)	6 Months Ended
	Jun. 30, 2014
Product Warranties Disclosures [Abstract]	'
Schedule of reconciliation of changes in product warranty accrual included in accrued expenses	'
	A reconciliation of the changes in the product warranty accrual, which is included in accrued expenses, is as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Balance at the beginning of period	$	3,403		$	3,094		$	3,601		$	3,432
	Warranties issued	613			707			1,212			1,395
	Warranty settlement costs	(512		)	(706		)	(1,132		)	(1,328		)
	Changes in accruals for pre-existing warranties	(105		)	(183		)	(284		)	(470		)
	Other adjustments(1)	—			331			—			331
	Currency translation adjustments	10			6			12			(111		)
	Balance at the end of period	$	3,409		$	3,249		$	3,409		$	3,249
	____________________
	(1)	Represents the warranty liabilities assumed in connection with the Forkardt acquisition. Refer to Note 2. "Acquisition" for details.

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of stock based compensation expense	'
	A summary of stock based compensation expense is as follows (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Restricted stock/unit awards (“RSA”)	$	109	$	92	$	218	$	191
	Performance share incentives (“PSI”)	—		43		—		61
		$	109	$	135	$	218	$	252
Schedule of unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs	'
	Unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs as of June 30, 2014 and December 31, 2013, are as follows:
		June 30,		December 31,
		2014		2013
	Unrecognized compensation cost (in thousands)	$	961	$	1,179
	Expected weighted-average recognition period for unrecognized compensation cost (in years)	2.1		2.6

CHANGES_IN_ACCUMULATED_OTHER_C1

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Schedule of changes in accumulated other comprehensive income (loss) (AOCI) by component	'
	Changes in AOCI by component for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
		Three Months Ended June 30, 2014
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	37,957			$	(40,074	)		$	(147	)		$	(2,264	)
	Other comprehensive income before reclassifications	1,242				365				261				1,868
	Less income reclassified from AOCI	—				249				55				304
	Net other comprehensive income	1,242				116				206				1,564
	Income taxes	(17		)		(1		)		34				16
	Ending balance, net of tax	$	39,216			$	(39,957	)		$	25			$	(716	)
		Three Months Ended June 30, 2013
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	31,309			$	(61,115	)		$	(52	)		$	(29,858	)
	Other comprehensive income before reclassifications	215				1,048				138				1,401
	Less income reclassified from AOCI	—				564				80				644
	Net other comprehensive income	215				484				58				757
	Income taxes	(322		)		26				52				(244		)
	Ending balance, net of tax	$	31,846			$	(60,657	)		$	(46	)		$	(28,857	)
		Six Months Ended June 30, 2014
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	38,663			$	(40,213	)		$	131			$	(1,419	)
	Other comprehensive income (loss) before	383				731				(113		)		1,001
	reclassifications
	Less income (loss) reclassified from AOCI	—				497				(22		)		475
	Net other comprehensive income (loss)	383				234				(91		)		526
	Income taxes	(170		)		(22		)		15				(177		)
	Ending balance, net of tax	$	39,216			$	(39,957	)		$	25			$	(716	)
		Six Months Ended June 30, 2013
		Foreign				Retirement				Unrealized				Accumulated
		currency				plans related				gain (loss) on				other
		translation				adjustments				cash flow				comprehensive
		adjustments								hedges				loss
	Beginning balance, net of tax	$	36,830			$	(62,375	)		$	36			$	(25,509	)
	Other comprehensive (loss) income before	(4,844		)		3,060				(108		)		(1,892		)
	reclassifications
	Less income (loss) reclassified from AOCI	—				1,132				(10		)		1,122
	Net other comprehensive (loss) income	(4,844		)		1,928				(98		)		(3,014		)
	Income taxes	140				210				(16		)		334
	Ending balance, net of tax	$	31,846			$	(60,657	)		$	(46	)		$	(28,857	)
Schedule of reclassification out of AOCI	'
	Details about reclassification out of AOCI for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
			Three Months Ended								Six Months Ended							Affected line item on the Consolidated Statements of Operations
			June 30,								June 30,
	Details of AOCI components		2014				2013				2014				2013
	Unrealized gain (loss) on cash flow hedges:
			$	52			$	55			$	81			$	(44	)	Sales
			3				25				(103		)		34			Other expense, net
			55				80				(22		)		(10		)	Total before tax
			15				(13		)		13				5			Tax (expense) benefit
			$	70			$	67			$	(9	)		$	(5	)	Net of tax
	Retirement plans related adjustments:
	Amortization of prior service credit		$	(102	)		$	(165	)		$	(204	)		$	(332	)	(a)
	Amortization of transition asset		(71		)		(67		)		(142		)		(135		)	(a)
	Amortization of actuarial loss		422				796				843				1,599			(a)
			249				564				497				1,132			Total before tax
			2				(42		)		4				(85		)	Tax benefit (expense)
			$	251			$	522			$	501			$	1,047		Net of tax
	____________________
	(a)  These AOCI components are included in the computation of net period pension and post retirement costs. See Note 14. "Pension and Postretirement Plans" for details.

PENSION_AND_POSTRETIREMENT_PLA1

PENSION AND POSTRETIREMENT PLANS (Tables)	6 Months Ended
	Jun. 30, 2014
Pension and Other Postretirement Benefit Expense [Abstract]	'
Summary of the components of net periodic pension benefit costs	'
	A summary of the components of net periodic pension benefit costs for the three and six months ended June 30, 2014 and 2013 is presented below (in thousands):
		Pension Benefits						Postretirement Benefits
		Three Months Ended						Three Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	362		$	342		$	3		$	4
	Interest cost	2,124			1,835			22			23
	Expected return on plan assets	(2,501		)	(2,352		)	—			—
	Amortization of prior service credit	(102		)	(101		)	—			(64		)
	Amortization of transition asset	(71		)	(67		)	—			—
	Amortization of actuarial loss (gain)	436			797			(14		)	(1		)
	Net periodic cost (benefit)	$	248		$	454		$	11		$	(38	)
		Pension Benefits						Postretirement Benefits
		Six Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	726		$	690		$	6		$	8
	Interest cost	4,244			3,678			44			46
	Expected return on plan assets	(4,996		)	(4,717		)	—			—
	Amortization of prior service credit	(204		)	(204		)	—			(128		)
	Amortization of transition asset	(142		)	(135		)	—			—
	Amortization of loss (gain)	871			1,601			(28		)	(2		)
	Net periodic cost (benefit)	$	499		$	913		$	22		$	(76	)

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of the basis of the earnings per share computation	'
	The following table presents the basis of the earnings per share computation (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Numerator for basic and diluted earnings per share:
	Earnings from continuing operations	$	1,349	$	2,056	$	678	$	2,096
	Gain from disposal of discontinued operation and income from	—		209		218		209
	discontinued operations, net of tax
	Net earnings applicable to common shareholders	$	1,349	$	2,265	$	896	$	2,305
	Denominator:
	Denominator for basic earnings per share — weighted average	12,715		11,663		12,607		11,662
	shares
	Assumed exercise of stock options	24		27		24		27
	Assumed satisfaction of restricted stock conditions	81		64		78		60
	Denominator for diluted earnings per share — adjusted weighted	12,820		11,754		12,709		11,749
	average shares

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Schedule of financial results of reportable segments	'
	Financial results for each reportable segment are as follows (in thousands):
		Three Months Ended June 30, 2014
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	61,435		$	17,495		$	(79	)	$	78,851
	Depreciation and amortization	1,756			647						2,403
	Segment income	964			1,926						2,890
	Capital expenditures	421			378						799
		Three Months Ended June 30, 2013
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	66,817		$	12,665		$	(127	)	$	79,355
	Depreciation and amortization	1,686			540						2,226
	Segment income	3,213			1,783						4,996
	Capital expenditures	628			148						776
		Six Months Ended June 30, 2014
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	115,624		$	34,228		$	(151	)	$	149,701
	Depreciation and amortization	3,534			1,287						4,821
	Segment (loss) income	(13		)	3,734						3,721
	Capital expenditures	679			445						1,124
	Segment assets(1)	250,002			57,333						307,335
		Six Months Ended June 30, 2013
		MMS			ATA			Inter-Segment			Total
								Eliminations
	Sales	$	126,890		$	19,986		$	(302	)	$	146,574
	Depreciation and amortization	3,360			723						4,083
	Segment income	4,075			2,900						6,975
	Capital expenditures	1,136			491						1,627
	Segment assets(1)	264,704			58,086						322,790
	____________________
	(1)	Segment assets primarily consist of restricted cash, accounts receivable, inventories, prepaid and other assets, property, plant and equipment, and intangible assets. Unallocated assets primarily include, cash and cash equivalents, corporate property, plant and equipment, deferred income taxes, and other non-current assets.
Schedule of reconciliation of segment income to consolidated income from operations before income taxes	'
	A reconciliation of segment income to consolidated income from operations before income taxes for the three and six months ended June 30, 2014 and 2013 are as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Segment income	$	2,890		$	4,996		$	3,721		$	6,975
	Unallocated corporate expense	(1,170		)	(492		)	(2,292		)	(1,516		)
	Interest expense, net	(143		)	(297		)	(366		)	(487		)
	Other unallocated expense	(84		)	(1,839		)	(84		)	(2,342		)
	Income from continuing operations before income taxes	$	1,493		$	2,368		$	979		$	2,630
Schedule of reconciliation of segment assets to consolidated total assets	'
	A reconciliation of segment assets to consolidated total assets follows (in thousands):
		June 30,			December 31,
		2014			2013
	Total segment assets	$	307,335		$	303,423
	Unallocated assets	27,276			40,760
	Total assets	$	334,611		$	344,183

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details)	6 Months Ended
	Jun. 30, 2014
	reportable_segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Number of reportable business segments	2

ACQUISITION_Details

ACQUISITION (Details)

1 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

9-May-13

9-May-13

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Forkardt

Forkardt

Forkardt

Forkardt

Forkardt

Forkardt Swiss business

Forkardt Swiss business

Forkardt Swiss business

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

CHF

USD ($)

ACQUISITION

'

'

'

'

'

'

'

'

'

'

'

'

'

Total assets acquired

'

'

'

'

$33,125,000

'

'

'

'

'

'

'

'

Purchase price less cash acquired

'

3,533,000

34,250,000

'

'

34,250,000

'

'

'

'

'

'

'

Bank debt used in funding of acquisition

'

'

'

'

'

24,300,000

'

'

'

'

'

'

'

Cash used in funding of acquisition

'

'

'

'

'

10,000,000

'

'

'

'

6,300,000

5,600,000

'

Net assets

'

'

'

'

28,434,000

'

'

'

'

'

'

'

1,200,000

Gain from disposal of discontinued operation and income from discontinued operation, net of tax

218,000

218,000

0

'

'

'

'

'

'

'

'

'

'

Supplemental Pro Forma Information

'

'

'

'

'

'

'

'

'

'

'

'

'

Sales

'

'

'

'

'

'

78,851,000

82,556,000

149,701,000

160,034,000

'

'

'

Net income from continuing operations

'

'

'

'

'

'

1,415,000

2,687,000

823,000

3,756,000

'

'

'

Diluted (loss) earnings per share from continuing operations (in dollars per share)

'

'

'

'

'

'

$0.11

$0.23

$0.06

$0.32

'

'

'

Accounts receivable

'

'

'

'

5,521,000

'

'

'

'

'

'

'

'

Inventories

'

'

'

'

5,357,000

'

'

'

'

'

'

'

'

Other current assets

'

'

'

'

1,257,000

'

'

'

'

'

'

'

'

Property, plant and equipment

'

'

'

'

6,271,000

'

'

'

'

'

'

'

'

Other non-current assets

'

'

'

'

105,000

'

'

'

'

'

'

'

'

Trade name, customer list, and other intangible assets

'

'

'

'

14,614,000

'

'

'

'

'

'

'

'

Accounts payable and other current liabilities

'

'

'

'

3,413,000

'

'

'

'

'

'

'

'

Other non-current liabilities

'

'

'

'

1,278,000

'

'

'

'

'

'

'

'

Goodwill

'

$11,624,000

'

$10,002,000

[1]

$5,816,000

'

'

'

'

'

'

'

'

[1]

In accordance with business combination guidance, changes to the purchase price allocation are adjusted retrospectively to the consolidated financial results. The values above include measurement period adjustments recorded in the six months ended June 30, 2014 to primarily revise the fair value of other current assets, accrued expenses and AOCI. The December 31, 2013 balances included in the consolidated balance sheets have been revised to include the effect of the measurement period adjustments.

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Raw materials and purchased components	$32,993	$32,046
Work-in-process	30,595	28,591
Finished products	55,742	53,427
Inventories, net	$119,330	$114,064

FAIR_VALUE_AND_DERIVATIVE_INST2

FAIR VALUE AND DERIVATIVE INSTRUMENTS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Financial instruments	'	'	'	'
Cash and cash equivalents	$22,290	$34,722	$18,716	$26,855
Restricted cash	3,469	4,124	'	'
Contingent consideration	1,500	7,500	'	'
Foreign currency forward contracts, net	-72	-587	'	'
Recurring | Level 1	'	'	'	'
Financial instruments	'	'	'	'
Cash and cash equivalents	22,290	34,722	'	'
Cash and cash equivalents, fair value	22,290	34,722	'	'
Restricted cash	3,469	4,124	'	'
Restricted cash, fair value	3,469	4,124	'	'
Recurring | Level 2	'	'	'	'
Financial instruments	'	'	'	'
Foreign currency forward contracts	306	285	'	'
Foreign currency forward contracts, fair value	306	285	'	'
Variable interest rate debt	19,104	26,635	'	'
Variable interest rate debt, fair value	19,104	26,635	'	'
Foreign currency forward contracts	378	872	'	'
Foreign currency forward contracts, fair value	378	872	'	'
Recurring | Level 3	'	'	'	'
Financial instruments	'	'	'	'
Contingent consideration	1,500	7,500	'	'
Contingent Consideration, At Fair Value	$1,500	$7,500	'	'

FAIR_VALUE_AND_DERIVATIVE_INST3

FAIR VALUE AND DERIVATIVE INSTRUMENTS (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Fair value of the foreign currency forward contracts	'	'	'	'	'
Foreign currency forwards designated as hedges - Other current assets	$103,000	'	$103,000	'	$144,000
Foreign currency forwards designated as hedges - Accrued expenses	-78,000	'	-78,000	'	-249,000
Foreign currency forwards not designated as hedges - Other current assets	203,000	'	203,000	'	141,000
Foreign currency forwards not designated as hedges - Accrued expenses	-300,000	'	-300,000	'	-623,000
Foreign currency forwards, net	-72,000	'	-72,000	'	-587,000
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	300,000	-700,000	-500,000	-1,300,000	'
Foreign currency forwards | Not designated as hedges	'	'	'	'	'
Derivative financial instruments	'	'	'	'	'
Notional Amount	43,500,000	'	43,500,000	'	45,500,000
Foreign currency forwards | Cash flow hedges	'	'	'	'	'
Derivative financial instruments	'	'	'	'	'
Notional Amount	24,100,000	'	24,100,000	'	37,000,000
Maximum | Foreign currency forwards | Cash flow hedges	'	'	'	'	'
Foreign currency derivative financial instruments qualifying and designated as hedges	'	'	'	'	'
Expected losses, net of income tax effect, expected to be reclassified from AOCI within the next 12 months, less than	($100,000)	'	($100,000)	'	'

FAIR_VALUE_AND_DERIVATIVE_INST4

FAIR VALUE AND DERIVATIVE INSTRUMENTS (Details 3) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
			Fair Value, Measurements, Recurring [Member]	Fair Value, Measurements, Recurring [Member]
			Level 3	Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Contingent Consideration, At Fair Value	'	'	$1,500	$7,500
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Payment of contingent consideration	6,000	0	-6,000	'
Fair value, end of period	'	'	$1,500	'

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, plant and equipment	'	'
Property, plant and equipment, gross	$191,668	$192,517
Accumulated depreciation	-119,770	-117,861
Property, plant and equipment, net	71,898	74,656
Land, buildings and improvements	'	'
Property, plant and equipment	'	'
Property, plant and equipment, gross	88,461	88,295
Machinery, equipment and fixtures	'	'
Property, plant and equipment	'	'
Property, plant and equipment, gross	80,268	80,584
Office furniture, equipment and vehicles	'	'
Property, plant and equipment	'	'
Property, plant and equipment, gross	22,827	23,421
Construction in progress	'	'
Property, plant and equipment	'	'
Property, plant and equipment, gross	$112	$217

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	6 Months Ended
	Jun. 30, 2014		Dec. 31, 2013	9-May-13
Summary of goodwill amount	'		'	'
Balance at the beginning of the period	$10,002,000	[1]	'	$5,816,000
Acquisition of Forkardt India	1,626,000		'	'
Currency translation adjustments	-4,000		'	'
Balance at the end of the period	11,624,000		'	5,816,000
Gross carrying value of goodwill	39,200,000		37,600,000	'
Accumulated impairment losses	-27,600,000		-27,600,000	'
MMS	'		'	'
Summary of goodwill amount	'		'	'
Balance at the beginning of the period	4,848,000	[1]	'	'
Acquisition of Forkardt India	0		'	'
Currency translation adjustments	0		'	'
Balance at the end of the period	4,848,000		'	'
ATA	'		'	'
Summary of goodwill amount	'		'	'
Balance at the beginning of the period	5,154,000	[1]	'	'
Acquisition of Forkardt India	1,626,000		'	'
Currency translation adjustments	-4,000		'	'
Balance at the end of the period	$6,776,000		'	'
[1]	In accordance with business combination guidance, changes to the purchase price allocation are adjusted retrospectively to the consolidated financial results. The values above include measurement period adjustments recorded in the six months ended June 30, 2014 to primarily revise the fair value of other current assets, accrued expenses and AOCI. The December 31, 2013 balances included in the consolidated balance sheets have been revised to include the effect of the measurement period adjustments.

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended			6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013	Jun. 30, 2014		Jun. 30, 2013	Dec. 31, 2013
Amortizable intangible assets	'		'	'		'	'
Gross amortizable intangible assets	$28,510,000		'	$28,510,000		'	$27,270,000
Accumulated amortization	-9,176,000		'	-9,176,000		'	-8,281,000
Amortizable intangible assets, net	19,334,000		'	19,334,000		'	18,989,000
Indefinite lived intangible assets	13,091,000		'	13,091,000		'	13,074,000
Intangible assets other than goodwill, net	32,425,000		'	32,425,000		'	32,063,000
Amortization expense related to amortizable intangible assets	500,000		400,000	900,000		700,000	'
Assets associated with Bridgeport acquisition | Assets	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Indefinite lived intangible assets	7,371,000	[1]	'	7,371,000	[1]	'	7,354,000	[1]
Usach | Trade names	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Indefinite lived intangible assets	1,550,000	[2]	'	1,550,000	[2]	'	1,550,000	[2]
Forkardt | Trade names	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Indefinite lived intangible assets	4,170,000	[3]	'	4,170,000	[3]	'	4,170,000	[3]
Land rights	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Gross amortizable intangible assets	2,797,000		'	2,797,000		'	2,865,000
Accumulated amortization	-200,000		'	-200,000		'	-177,000
Patents	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Gross amortizable intangible assets	3,052,000		'	3,052,000		'	3,030,000
Accumulated amortization	-2,918,000		'	-2,918,000		'	-2,884,000
Technical know-how, customer list, and other	'		'	'		'	'
Amortizable intangible assets	'		'	'		'	'
Gross amortizable intangible assets	22,661,000		'	22,661,000		'	21,375,000
Accumulated amortization	($6,058,000)		'	($6,058,000)		'	($5,220,000)
[1]	Represents the aggregate value of the trade name, trademarks and copyrights associated with the former worldwide operations of Bridgeport. The Bridgeport brand name is used on all of the machining center lines. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
[2]	Represents the value of the trade name associated with Usach, which the Company acquired in 2012. The Usach trade name is used on all of the grinding machines and grinding systems manufactured by Usach. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.
[3]	Represents the value of the trade name associated with Forkardt, which the Company acquired in 2013. The Forkardt trade name is used on all of the products manufactured by Forkardt. After consideration of legal, regulatory, contractual, competitive, economic and other factors, the asset has been determined to have an indefinite useful life.

WARRANTIES_Details

WARRANTIES (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Changes in product warranty accrual	'		'		'		'
Balance at the beginning of period	$3,403		$3,094		$3,601		$3,432
Warranties issued	613		707		1,212		1,395
Warranty settlement costs	-512		-706		-1,132		-1,328
Changes in accruals for pre-existing warranties	-105		-183		-284		-470
Other adjustments	0	[1]	331	[1]	0	[1]	331	[1]
Currency translation adjustments	10		6		12		-111
Balance at the end of period	$3,409		$3,249		$3,409		$3,249
[1]	Represents the warranty liabilities assumed in connection with the Forkardt acquisition. Refer to Note 2. "Acquisition" for details.

FINANCING_ARRANGEMENTS_Details

FINANCING ARRANGEMENTS (Details)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jan. 07, 2014	Jan. 07, 2014	Jan. 06, 2014	Jan. 06, 2014	Jun. 30, 2014
	USD ($)	Jiaxing line of credit facility	Jiaxing line of credit facility	Jiaxing line of credit facility	Jiaxing line of credit facility	Jiaxing line of credit facility	Jiaxing line of credit facility	Unsecured Credit Facility
		USD ($)	CNY	USD ($)	CNY	USD ($)	CNY	USD ($)
Financing arrangements	'	'	'	'	'	'	'	'
Borrowing capacity available for working capital and letter of credit purposes	'	'	'	$9,500,000	59,000,000	$5,500,000	34,200,000	$12,000,000
Borrowing capacity available for working capital need	'	6,300,000	39,000,000	'	'	'	'	'
Interest rate (as a percent)	'	6.60%	6.60%	'	'	'	'	1.50%
Basis spread added to base rate (as a percent)	'	10.00%	10.00%	'	'	'	'	'
Line of credit facility, amount outstanding	$0	'	'	'	'	'	'	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'	'
Effective tax rate (as a percent)	9.60%	30.70%
Uncertain income tax position	$2.80	$2.80
Interest and penalties included in uncertain income tax position	1	1
Minimum estimated change in uncertain tax positions	0.3	0.3
Maximum estimated change in uncertain tax positions	$1.10	$1.10

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Jun. 30, 2014	Jan. 10, 2013
In Millions, unless otherwise specified
Commitments and Contingencies	'	'
Estimated life-cycle costs, minimum	'	$0.70
Estimated life-cycle costs, maximum	'	3.4
Reserve for estimated life-cycle costs	0.2	'
Minimum	'	'
Commitments and Contingencies	'	'
Loss contingency, entity portion of potential cost	0.1	'
Maximum	'	'
Commitments and Contingencies	'	'
Loss contingency, entity portion of potential cost	$0.50	'

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Stock-based compensation	'	'	'	'	'
Stock based compensation expenses	$109	$135	$218	$252	'
Restricted stock/units awards	'	'	'	'	'
Stock-based compensation	'	'	'	'	'
Stock based compensation expenses	109	92	218	191	'
Unrecognized compensation and expected weighted-average recognition period	'	'	'	'	'
Unrecognized compensation cost	961	'	961	'	1,179
Expected weighted-average recognition period for unrecognized compensation cost (in years)	'	'	'2 years 1 month 20 days	'	'2 years 7 months 6 days
Performance share incentives	'	'	'	'	'
Stock-based compensation	'	'	'	'	'
Stock based compensation expenses	$0	$43	$0	$61	'

STOCK_OFFERING_Details

STOCK OFFERING (Details) (USD $)	0 Months Ended	3 Months Ended	6 Months Ended	11 Months Ended
	Aug. 09, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
STOCK OFFERING	'	'	'	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01	$0.01	$0.01	$0.01
Aggregate offering price authorized under the agreement	$25,000,000	'	'	'	'
Threshold aggregate offering price for termination of agreement	25,000,000	'	'	'	'
Period of notice to be served for termination of the agreement	'10 days	'	'	'	'
Term of program	'1 year	'	'	'	'
Stock Issued During Period, Shares, Other	'	33,492	403,863	1,014,252	'
Proceeds from sale of common stock	'	$400,000	$5,700,000	$14,600,000	'
Stock Issued During Period, Shares, Treasury Stock Reissued	'	0	52,887	663,276	'

CHANGES_IN_ACCUMULATED_OTHER_C2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Changes in AOCI by component	'	'	'	'
Beginning balance, net of tax	($2,264)	($29,858)	($1,419)	($25,509)
Other comprehensive income (loss) before reclassifications	1,868	1,401	1,001	-1,892
Less income (loss) reclassified from AOCI	304	644	475	1,122
Net other comprehensive income (loss)	1,564	757	526	-3,014
Income taxes	-16	244	177	-334
Ending balance, net of tax	-716	-28,857	-716	-28,857
Foreign currency translation adjustment	'	'	'	'
Changes in AOCI by component	'	'	'	'
Beginning balance, net of tax	37,957	31,309	38,663	36,830
Other comprehensive income (loss) before reclassifications	1,242	215	383	-4,844
Net other comprehensive income (loss)	1,242	215	383	-4,844
Income taxes	-17	322	-170	140
Ending balance, net of tax	39,216	31,846	39,216	31,846
Retirement plans related adjustments	'	'	'	'
Changes in AOCI by component	'	'	'	'
Beginning balance, net of tax	-40,074	-61,115	-40,213	-62,375
Other comprehensive income (loss) before reclassifications	365	1,048	731	3,060
Less income (loss) reclassified from AOCI	249	564	497	1,132
Net other comprehensive income (loss)	116	484	234	1,928
Income taxes	-1	-26	-22	210
Ending balance, net of tax	-39,957	-60,657	-39,957	-60,657
Unrealized gain (loss) on cash flow hedges	'	'	'	'
Changes in AOCI by component	'	'	'	'
Beginning balance, net of tax	-147	-52	131	36
Other comprehensive income (loss) before reclassifications	261	138	-113	-108
Less income (loss) reclassified from AOCI	55	80	-22	-10
Net other comprehensive income (loss)	206	58	-91	-98
Income taxes	34	-52	15	-16
Ending balance, net of tax	$25	($46)	$25	($46)

CHANGES_IN_ACCUMULATED_OTHER_C3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Reclassification out of AOCI	'		'		'		'
Sales	$78,851		$79,355		$149,701		$146,574
Other expense, net	-192		-139		-583		-415
Income from continuing operations before income taxes	1,493		2,368		979		2,630
Income taxes	-144		-312		-301		-534
Net income (loss)	1,349		2,265		896		2,305
Unrealized gain (loss) on cash flow hedges | Amount reclassified from AOCI	'		'		'		'
Reclassification out of AOCI	'		'		'		'
Sales	52		55		81		-44
Other expense, net	3		25		-103		34
Income from continuing operations before income taxes	55		80		-22		-10
Income taxes	15		-13		13		5
Net income (loss)	70		67		-9		-5
Retirement plans related adjustments | Amount reclassified from AOCI	'		'		'		'
Reclassification out of AOCI	'		'		'		'
Amortization of prior service credit	-102	[1]	-165	[1]	-204	[1]	-332	[1]
Amortization of transition asset	-71	[1]	-67	[1]	-142	[1]	-135	[1]
Amortization of actuarial loss	422	[1]	796	[1]	843	[1]	1,599	[1]
Income from continuing operations before income taxes	249		564		497		1,132
Income taxes	2		-42		4		-85
Net income (loss)	$251		$522		$501		$1,047
[1]	These AOCI components are included in the computation of net period pension and post retirement costs. See Note 14. "Pension and Postretirement Plans" for details.

PENSION_AND_POSTRETIREMENT_PLA2

PENSION AND POSTRETIREMENT PLANS (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pension Benefits	'	'	'	'
Components of net periodic benefit cost (credit)	'	'	'	'
Service cost	$362	$342	$726	$690
Interest cost	2,124	1,835	4,244	3,678
Expected return on plan assets	-2,501	-2,352	-4,996	-4,717
Amortization of prior service credit	-102	-101	-204	-204
Amortization of transition asset	-71	-67	-142	-135
Amortization of loss (gain)	436	797	871	1,601
Net periodic cost (benefit)	248	454	499	913
Postretirement Benefits	'	'	'	'
Components of net periodic benefit cost (credit)	'	'	'	'
Service cost	3	4	6	8
Interest cost	22	23	44	46
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	0	-64	0	-128
Amortization of transition asset	0	0	0	0
Amortization of loss (gain)	-14	-1	-28	-2
Net periodic cost (benefit)	$11	($38)	$22	($76)

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator for basic and diluted earnings per share:	'	'	'	'
Earnings from continuing operations	$1,349	$2,056	$678	$2,096
Gain from disposal of discontinued operation and income from discontinued operations, net of tax	0	209	218	209
Net earnings applicable to common shareholders	$1,349	$2,265	$896	$2,305
Denominator:	'	'	'	'
Denominator for basic earnings per share - weighted average shares (in shares)	12,715,000	11,663,000	12,607,000	11,662,000
Denominator for diluted earnings per share - adjusted weighted average shares (in shares)	12,820,000	11,754,000	12,709,000	11,749,000
Anti-dilutive stock-based awards excluded from calculation of diluted earnings per share (in shares)	45,033	49,166	48,053	56,390
Stock options	'	'	'	'
Denominator:	'	'	'	'
Incremental shares attributable to assumed conversion of share based payment awards (in shares)	24,000	27,000	24,000	27,000
Restricted stock	'	'	'	'
Denominator:	'	'	'	'
Incremental shares attributable to assumed conversion of share based payment awards (in shares)	81,000	64,000	78,000	60,000

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013		Dec. 31, 2013
Financial results of reportable segments	'		'		'		'		'
Sales	$78,851,000		$79,355,000		$149,701,000		$146,574,000		'
Depreciation and amortization	'		'		5,049,000		4,350,000		'
Segment income (loss)	1,636,000		2,665,000		1,345,000		3,117,000		'
Capital expenditures	'		'		1,124,000		1,627,000		'
Segment assets	334,611,000		'		334,611,000		'		344,183,000
Reconciliation of segment income to consolidated income before income taxes	'		'		'		'		'
Income from continuing operations before income taxes	1,493,000		2,368,000		979,000		2,630,000		'
Operating segment	'		'		'		'		'
Financial results of reportable segments	'		'		'		'		'
Sales	78,851,000		79,355,000		149,701,000		146,574,000		'
Depreciation and amortization	2,403,000		2,226,000		4,821,000		4,083,000		'
Segment income (loss)	2,890,000		4,996,000		3,721,000		6,975,000		'
Capital expenditures	799,000		776,000		1,124,000		1,627,000		'
Segment assets	307,335,000	[1]	322,790,000	[1]	307,335,000	[1]	322,790,000	[1]	303,423,000
Reconciliation of segment income to consolidated income before income taxes	'		'		'		'		'
Unallocated corporate expense	-1,170,000		-492,000		-2,292,000		-1,516,000		'
Interest expense, net	143,000		297,000		366,000		487,000		'
Other unallocated expense	-84,000		-1,839,000		-84,000		-2,342,000		'
Income from continuing operations before income taxes	1,493,000		2,368,000		979,000		2,630,000		'
Operating segment | MMS	'		'		'		'		'
Financial results of reportable segments	'		'		'		'		'
Sales	61,435,000		66,817,000		115,624,000		126,890,000		'
Depreciation and amortization	1,756,000		1,686,000		3,534,000		3,360,000		'
Segment income (loss)	964,000		3,213,000		-13,000		4,075,000		'
Capital expenditures	421,000		628,000		679,000		1,136,000		'
Segment assets	250,002,000	[1]	264,704,000	[1]	250,002,000	[1]	264,704,000	[1]	'
Operating segment | ATA	'		'		'		'		'
Financial results of reportable segments	'		'		'		'		'
Sales	17,495,000		12,665,000		34,228,000		19,986,000		'
Depreciation and amortization	647,000		540,000		1,287,000		723,000		'
Segment income (loss)	1,926,000		1,783,000		3,734,000		2,900,000		'
Capital expenditures	378,000		148,000		445,000		491,000		'
Segment assets	57,333,000	[1]	58,086,000	[1]	57,333,000	[1]	58,086,000	[1]	'
Inter-Segment Eliminations	'		'		'		'		'
Financial results of reportable segments	'		'		'		'		'
Sales	-79,000		-127,000		-151,000		-302,000		'
Unallocated assets	'		'		'		'		'
Financial results of reportable segments	'		'		'		'		'
Segment assets	27,276,000		'		27,276,000		'		40,760,000
Reconciliation of segment income to consolidated income before income taxes	'		'		'		'		'
Cash	$22,300,000		'		$22,300,000		'		$34,700,000
[1]	Segment assets primarily consist of restricted cash, accounts receivable, inventories, prepaid and other assets, property, plant and equipment, and intangible assets. Unallocated assets primarily include, cash and cash equivalents, corporate property, plant and equipment, deferred income taxes, and other non-current assets.