Hardinge 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information
Entity Registrant Name	HARDINGE INC.
Entity Central Index Key	313,716
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		12,838,227

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 18,535	$ 16,293
Restricted cash	2,782	3,151
Accounts receivable, net	55,651	62,877
Inventories, net	119,193	111,821
Other current assets	12,371	10,545
Total current assets	208,532	204,687
Property, plant and equipment, net	63,751	65,874
Goodwill	6,636	6,698
Other intangible assets, net	28,511	30,217
Other non-current assets	4,645	3,844
Total non-current assets	103,543	106,633
Total assets	312,075	311,320
Liabilities and shareholders’ equity
Accounts payable	25,445	25,592
Accrued expenses	27,195	25,071
Customer deposits	16,034	12,736
Accrued income taxes	1,929	646
Deferred income taxes	2,539	2,332
Current portion of long-term debt	4,467	3,972
Total current liabilities	77,609	70,349
Long-term debt	8,718	12,253
Pension and postretirement liabilities	51,256	53,119
Deferred income taxes	2,557	2,516
Other liabilities	3,614	3,487
Total non-current liabilities	$ 66,145	$ 71,375
Commitments and contingencies (see Note 11)
Common stock ($0.01 par value, 20,000,000 authorized; 12,856,716 issued and 12,836,711 outstanding as of September 30, 2015, and 12,825,468 issued and 12,821,768 outstanding as of December 31, 2014)	$ 129	$ 128
Additional paid-in capital	121,016	120,538
Retained earnings	86,858	87,777
Treasury shares (at cost, 20,005 as of September 30, 2015, and 3,700 as of December 31, 2014)	(219)	(46)
Accumulated other comprehensive loss	(39,463)	(38,801)
Total shareholders’ equity	168,321	169,596
Total liabilities and shareholders’ equity	$ 312,075	$ 311,320

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
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)	12,856,716	12,825,468
Common stock, outstanding (in shares)	12,836,711	12,821,768
Treasury shares (in shares)	20,005	3,700

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Sales	$ 76,805	$ 68,924	$ 228,289	$ 218,625
Cost of sales	55,046	50,247	164,818	158,767
Gross profit	21,759	18,677	63,471	59,858
Selling, general and administrative expenses	19,925	20,123	60,596	59,376
Restructuring charges	877	0	877	0
Impairment charge	0	5,766	0	5,766
Other expense (income), net	201	(334)	276	249
Income (loss) from operations	756	(6,878)	1,722	(5,533)
Interest expense	161	171	472	569
Interest income	(40)	(15)	(80)	(47)
Income (loss) from continuing operations before income taxes	635	(7,034)	1,330	(6,055)
Income taxes	962	544	1,479	845
Net loss from continuing operations	(327)	(7,578)	(149)	(6,900)
Gain from disposal of discontinued operation, net of tax	0	0	0	218
Net loss	$ (327)	$ (7,578)	$ (149)	$ (6,682)
Basic loss per share:
Continuing operations (in dollars per share)	$ (0.03)	$ (0.60)	$ (0.01)	$ (0.55)
Discontinued operations (in dollars per share)	0	0	0	0.02
Basic loss per share (in dollars per share)	(0.03)	(0.60)	(0.01)	(0.53)
Diluted loss per share:
Continuing operations (in dollars per share)	(0.03)	(0.60)	(0.01)	(0.55)
Discontinued operations (in dollars per share)	0	0	0	0.02
Diluted loss per share (in dollars per share)	(0.03)	(0.60)	(0.01)	(0.53)
Cash dividends declared per share: (in dollars per share)	$ 0.02	$ 0.02	$ 0.06	$ 0.06

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (327)	$ (7,578)	$ (149)	$ (6,682)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(7,169)	(6,368)	(1,641)	(5,985)
Retirement plans related adjustments	1,748	1,336	1,736	1,570
Unrealized (loss) gain on cash flow hedges	(751)	13	(433)	(78)
Other comprehensive loss before tax	(6,172)	(5,019)	(338)	(4,493)
Income tax (benefit) expense	(506)	927	324	750
Other comprehensive loss, net of tax	(5,666)	(5,946)	(662)	(5,243)
Total comprehensive loss	$ (5,993)	$ (13,524)	$ (811)	$ (11,925)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net loss	$ (149)	$ (6,682)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Impairment charge	0	5,766
Depreciation and amortization	6,831	7,317
Debt issuance costs amortization	29	33
Deferred income taxes	(284)	(346)
Gain on sale of assets	(1)	(101)
Gain on sale of business	0	(218)
Gain on purchase of business	0	(462)
Unrealized foreign currency transaction (gain) loss	(4)	593
Changes in operating assets and liabilities:
Accounts receivable	6,015	2,670
Inventories	(8,688)	(10,054)
Other assets	(1,360)	225
Accounts payable	990	2,743
Customer deposits	3,494	259
Accrued expenses	2,161	(2,859)
Accrued pension and postretirement liabilities	(13)	(35)
Net cash provided by (used in) operating activities	9,021	(1,151)
Investing activities
Acquisition of businesses, net of cash acquired	0	(5,683)
Capital expenditures	(3,103)	(1,830)
Proceeds from disposal of business	0	218
Proceeds from sales of assets	38	131
Net cash used in investing activities	(3,065)	(7,164)
Financing activities
Payment of contingent consideration	0	(7,500)
Proceeds from short-term notes payable to bank	24,937	13,827
Repayments of short-term notes payable to bank	(24,937)	(13,827)
Repayments of long-term debt	(3,245)	(8,373)
Dividends paid	(781)	(757)
Purchases of treasury stock	(201)	0
Net proceeds from sales of common stock	0	5,678
Net cash used in financing activities	(4,227)	(10,952)
Effect of exchange rate changes on cash	513	(450)
Net increase (decrease) in cash	2,242	(19,717)
Cash and cash equivalents at beginning of period	16,293	34,722
Cash and cash equivalents at end of period	$ 18,535	$ 15,005

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
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, 2014 . 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 nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected in subsequent quarters or for the full year ended December 31, 2015 . In the first quarter of 2015, the Company recorded an out of period adjustment to correct finished goods inventory in the amount of $0.7 million that is related to periods beginning in 2013. This adjustment, which was in the Aftermarket Tooling and Accessories Segment, was to correct for costs that were not properly released from inventory as the product was sold. The Company assessed the impact of this adjustment and concluded that it is not material to previously reported financial statements. The Company also determined that the adjustment is not expected to be material to the full year in 2015, but was material to the first quarter. Certain amounts in the 2014 consolidated financial statements have been reclassified to conform to the current year presentation.

ACQUISITION

ACQUISITION	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
ACQUISITION	ACQUISITION Acquisition of Voumard On September 22, 2014 , Hardinge Inc., along with its indirect wholly-owned subsidiaries Hardinge GmbH and L. Kellenberger & Co., AG acquired certain assets and assumed certain liabilities associated with a product line of grinding machine systems and applications marketed and sold under the Voumard brand from Peter Wolters GmbH. The purchase price was EUR 1.7 million (approximately $2.2 million ), before taking into account customary purchase price adjustments. The acquisition of Voumard expands the Company's product offerings to include internal diameter ("ID") cylindrical grinding solutions, which are a complement to the existing grinding product lines offered by the Company. The acquisition was funded with cash and has been included in the MMS business segment. Voumard is a global leader in the ID grinding market with an installed base of over 9,000 machine solutions serving more than 2,500 customers around the world. The results of operations of Voumard have been included in the consolidated financial statements from the date of acquisition. In accordance with the acquisition method of accounting, the acquired net assets were recorded at fair value at the date of acquisition. The identifiable intangible assets acquired, which primarily consists of drawings of $0.1 million , were valued using a cost approach. The fair values of the acquired assets and liabilities exceeded the purchase price of Voumard, resulting in a gain on the purchase of $0.5 million . The values of the assets acquired and liabilities assumed were finalized during the third quarter of the current year, resulting in no purchase accounting adjustments. The following table summarizes the fair values of the assets acquired and liabilities assumed in the Voumard acquisition at the date of acquisition (in thousands): September 22, 2014 Assets Acquired Inventories $ 2,984 Property, plant and equipment 259 Drawings, customer lists, and other intangible assets 131 Total assets acquired 3,374 Liabilities Assumed Warranties 600 Deferred tax liability 162 Net assets acquired 2,612 Total purchase price 2,150 Bargain purchase gain $ 462 Supplemental Pro Forma Information The following table illustrates the unaudited pro forma effect on the Company’s consolidated operating results for the three and nine months ended September 30, 2015 and 2014 , as if the Voumard acquisition had occurred on January 1, 2013 (in thousands, except per share data) : Three Months Ended Nine Months Ended 2015 2014 2015 2014 Sales $ 76,805 $ 72,342 $ 228,289 $ 225,053 Net loss from continuing operations (1) (327 ) (7,394 ) (149 ) (12,575 ) Diluted loss per share from continuing operations $ (0.03 ) $ (0.58 ) $ (0.01 ) $ (0.99 ) ____________________ (1) The pro forma results above include abbreviated financial results for Voumard, consisting of revenues and direct expenses for that product line. During the nine months ended September 30, 2014 , the Voumard business incurred $4.9 million in restructuring charges, which included inventory write-offs, headcount reductions and other related costs. These amounts are included in the pro forma information presented above. 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.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Financial Instruments, Owned, at Fair Value [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS 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): September 30, 2015 December 31, 2014 Level of Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 18,535 $ 18,535 $ 16,293 $ 16,293 Level 1 Restricted cash 2,782 2,782 3,151 3,151 Level 1 Foreign currency forward contracts 299 299 307 307 Level 2 Liabilities: Variable interest rate debt 13,185 13,185 16,225 16,225 Level 2 Foreign currency forward contracts 1,321 1,321 629 629 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 variable interest rate debt approximates the carrying 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 September 30, 2015 and December 31, 2014 , there were no significant transfers in and/or out of Level 1 and Level 2.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2015
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 consists of the following (in thousands): September 30, December 31, Raw materials and purchased components $ 36,054 $ 36,717 Work-in-process 36,599 28,504 Finished products 46,540 46,600 Inventories, net $ 119,193 $ 111,821

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL 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 (income), net ” when the hedging relationship is deemed to be no longer effective. As of September 30, 2015 and December 31, 2014 , the notional amounts of the derivative financial instruments designated to qualify for cash flow hedges were $38.4 million and $24.8 million , respectively. The Company expects approximately $0.6 million of expense, net of income tax effect, to be reclassified from AOCI to earnings within the next 12 months. As of September 30, 2015 and December 31, 2014 , the notional amounts of the derivative financial instruments not qualifying or otherwise designated as hedges were $38.4 million and $38.3 million , respectively. For the three months ended September 30, 2015 and 2014 , losses of $1.9 million and gains $0.4 million , respectively, were recorded related to this type of derivative financial instrument. For the nine months ended September 30, 2015 and 2014 , losses of $0.3 million and $0.1 million , respectively, were recorded related to this type of derivative financial instrument. For contracts that are not designated as hedges, the gain or loss on the contract is recognized in current earnings in the “ Other expense (income), 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): September 30, December 31, Foreign currency forwards designated as hedges: Other current assets $ 142 $ 237 Accrued expenses (743 ) (385 ) Foreign currency forwards not designated as hedges: Other current assets 157 70 Accrued expenses (578 ) (244 ) Foreign currency forwards, net $ (1,022 ) $ (322 )

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following (in thousands): September 30, December 31, Land, buildings and improvements $ 83,531 $ 83,119 Machinery, equipment and fixtures 79,382 78,003 Office furniture, equipment and vehicles 22,626 22,265 Construction in progress 222 399 185,761 183,786 Accumulated depreciation (122,010 ) (117,912 ) Property, plant and equipment, net $ 63,751 $ 65,874

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2015
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, 2014: Goodwill $ 32,434 $ 6,698 $ 39,132 Accumulated impairment losses (32,434 ) — (32,434 ) Goodwill, net of impairment losses — 6,698 6,698 Current Year Activity: Currency translation adjustments — (62 ) (62 ) Total current year activity — (62 ) (62 ) Balance at September 30, 2015: Goodwill 32,434 6,636 39,070 Accumulated impairment losses (32,434 ) — (32,434 ) Goodwill, net of impairment losses $ — $ 6,636 $ 6,636 The major components of intangible assets other than goodwill are as follows (in thousands): September 30, December 31, Gross amortizable intangible assets: Technical know-how $ 12,961 $ 12,984 Customer lists 9,020 9,047 Land rights 2,730 2,796 Patents, trade names, drawings, and other 4,395 4,345 Total gross amortizable intangible assets 29,106 29,172 Accumulated amortization: Technical know-how (6,557 ) (5,730 ) Customer lists (1,207 ) (871 ) Land rights (264 ) (228 ) Patents, trade names, drawings, and other (3,364 ) (3,227 ) Total accumulated amortization (11,392 ) (10,056 ) Amortizable intangible assets, net 17,714 19,116 Indefinite lived intangible assets: Trade names 10,797 11,101 Intangible assets other than goodwill, net $ 28,511 $ 30,217 Amortization expense related to the definite-lived intangible assets are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Amortization expense $ 452 $ 448 $ 1,354 $ 1,339

WARRANTIES

WARRANTIES	9 Months Ended
	Sep. 30, 2015
Product Warranties Disclosures [Abstract]
WARRANTIES	WARRANTIES A reconciliation of the changes in the product warranty accrual, which is included in " Accrued expenses " in the Consolidated Balance Sheets, is as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Balance at the beginning of period $ 4,037 $ 3,257 $ 3,891 $ 3,449 Warranties issued 682 538 2,081 1,750 Warranty settlement costs (620 ) (665 ) (2,068 ) (1,797 ) Changes in accruals for pre-existing warranties (11 ) 67 64 (217 ) Other adjustments (1) — 600 — 600 Currency translation adjustments (109 ) (141 ) 11 (129 ) Balance at the end of period $ 3,979 $ 3,656 $ 3,979 $ 3,656 ____________________ (1) Represents the warranty liabilities assumed in connection with the Voumard acquisition. Refer to Note 2. "Acquisitions" for details.

RESTRUCUTRING CHARGES

RESTRUCUTRING CHARGES	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring Charges	RESTRUCTURING CHARGES On August 4, 2015 , the Company's Board of Directors approved a strategic restructuring program (the "Program") with the goals of streamlining the Company's cost structure, increasing operational efficiencies and improving shareholder returns. This Program consists of the consolidation of certain facilities and restructuring of certain business units and is expected to generate annual pre-tax savings in the range of approximately $4.0 million to $5.0 million once the Program is fully implemented. Virtually all of the restructuring Program costs are expected to result in cash expenditures. The restructuring Program is expected to be substantially completed by the end of the first quarter of 2016. Restructuring charges are included in the "Restructuring charges" line item in the Consolidated Statements of Operations . The table below presents the total costs expected to be incurred in connection with the Program, the amount of costs that have been incurred during the three and nine months ended September 30, 2015 , and the cumulative costs incurred to date by the Program (in thousands): Total Costs Expected to be Incurred Total Costs Incurred in the Period Cumulative Costs Incurred to Date Three Months Ended Nine Months Ended MMS Segment: Employee termination costs $ 243 $ 243 $ 243 $ 243 Total MMS Segment 243 243 243 243 ATA Segment: Employee termination costs 2,718 549 549 549 Facility exit costs 605 — — — Other related costs 774 85 85 85 Total ATA Segment 4,097 634 634 634 Total: Employee termination costs 2,961 792 792 792 Facility exit costs 605 — — — Other related costs 774 85 85 85 Total company $ 4,340 $ 877 $ 877 $ 877 The amounts accrued associated with the Program are included in " Accrued expenses " and " Pension and postretirement liabilities " in the Consolidated Balance Sheets . A rollforward of the accrued restructuring costs is presented below (in thousands): Segment Total MMS ATA Balance at December 31, 2014 $ — $ — $ — Restructuring charges: Employee termination costs 243 549 792 Other related costs — 85 85 Total restructuring charges 243 634 877 Cash expenditures (61 ) (95 ) (156 ) Foreign currency translation adjustment — (2 ) (2 ) Balance at September 30, 2015 $ 182 $ 537 $ 719

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
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 rate was 151.5% and 111.2% for the three and nine months ended September 30, 2015 , respectively. The overall effective tax rate is primarily driven by the mix of earnings by country and by year-to-date losses of certain entities for which no tax benefit can be realized due to valuation allowances. Additionally the Company's effective rate was impacted by the finalization of prior year tax return filings, resolution of tax uncertainties related to an income tax examination in Canada and revaluation of tax uncertainties related to an ongoing tax examination in Taiwan. The tax years 2012 through 2014 remain open to examination by the U.S. federal taxing authorities. The tax years 2010 through 2014 remain open to examination by the U.S. state taxing authorities. For other major jurisdictions (Switzerland, U.K., Taiwan, France, Germany, India, Netherlands and China), the tax years between 2008 and 2014 generally remain open to routine examination by foreign taxing authorities, depending on the jurisdiction. At September 30, 2015 , a liability of $2.6 million is recorded with respect to uncertain income tax positions, which includes related interest and penalties of $0.4 million . If recognized, essentially all of the uncertain tax positions and related interest at September 30, 2015 would be recorded as a benefit to income tax expense on the Consolidated Statements 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 $0.5 million and $1.7 million .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
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 liability 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., (collectively, the "PRPs"), have agreed to voluntarily participate in the 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, they submitted the draft Feasibility Study. Due to changes in the hydrology of the Pond, the PRPs prepared and submitted two revised draft Feasibility Studies to the EPA, one on January 30, 2015 and one on July 28, 2015 to update site information and to address issues raised by the EPA. The PRPs are continuing to cooperate with the EPA and to examine potential remedial options. The revised draft Feasibility Study submitted on July 28, 2015 includes alternative remedial actions with estimated life-cycle costs ranging from $0.9 million to $3.5 million . The Company’s portion of the potential costs, based upon the revised Feasibility Study, 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 $0.3 million has been recorded for the Company’s share of remediation expenses at the Pond as of September 30, 2015 . This reserve is included in " Accrued expenses " in 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.

PENSION AND POSTRETIREMENT PLAN

PENSION AND POSTRETIREMENT PLANS	9 Months Ended
	Sep. 30, 2015
Pension and Other Postretirement Benefit Expense [Abstract]
PENSION AND POSTRETIREMENT PLANS	PENSION AND POSTRETIREMENT PLANS A summary of the components of net periodic pension and postretirement benefit costs for the three and nine months ended September 30, 2015 and 2014 is presented below (in thousands): Pension Benefits Postretirement Benefits Three Months Ended Three Months Ended 2015 2014 2015 2014 Service cost $ 484 $ 352 $ 3 $ 3 Interest cost 1,673 2,107 19 22 Expected return on plan assets (2,395 ) (2,477 ) — — Amortization of prior service credit (79 ) (99 ) — — Amortization of transition asset (19 ) (69 ) — — Amortization of actuarial loss (gain) 772 431 (13 ) (14 ) Net periodic cost $ 436 $ 245 $ 9 $ 11 Pension Benefits Postretirement Benefits Nine Months Ended Nine Months Ended 2015 2014 2015 2014 Service cost $ 1,475 $ 1,078 $ 9 $ 9 Interest cost 5,024 6,351 56 66 Expected return on plan assets (7,208 ) (7,473 ) — — Amortization of prior service credit (241 ) (303 ) — — Amortization of transition asset (61 ) (211 ) — — Amortization of actuarial loss (gain) 2,334 1,302 (38 ) (42 ) Net periodic cost $ 1,323 $ 744 $ 27 $ 33

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
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 Nine Months Ended 2015 2014 2015 2014 Restricted stock/unit awards (“RSA”) $ 63 $ 109 $ 264 $ 327 Performance share incentives (“PSI”) 1 (170 ) (61 ) (170 ) $ 64 $ (61 ) $ 203 $ 157 There were no RSAs granted during the nine months ended September 30, 2015 , and 2014 , respectively. The deferred compensation is being amortized on a straight-line basis over the specified service period. There were no PSIs granted during the nine months ended September 30, 2015 and 2014 , 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. In May of 2015, 50,000 RSA shares vested. All other outstanding RSAs and PSIs are unvested. Expected unrecognized compensation and the estimated weighted-average recognition periods with respect to the outstanding RSAs and PSIs as of September 30, 2015 and December 31, 2014 , are as follows: September 30, 2015 December 31, 2014 RSAs PSIs RSAs PSIs Unrecognized compensation cost (in thousands) $ 437 $ 81 $ 718 $ 554 Expected weighted-average recognition period for unrecognized compensation cost (in years) 1.46 0.50 1.64 2.13

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in AOCI by component for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended September 30, 2015 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 30,487 $ (64,418 ) $ 134 $ (33,797 ) Other comprehensive loss before reclassifications (6,082 ) — (893 ) (6,975 ) Less income (loss) reclassified from AOCI 1,087 (1,748 ) (142 ) (803 ) Net other comprehensive (loss) income (7,169 ) 1,748 (751 ) (6,172 ) Income taxes (625 ) 218 (99 ) (506 ) Ending balance, net of tax $ 23,943 $ (62,888 ) $ (518 ) $ (39,463 ) Three Months Ended September 30, 2014 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 39,216 $ (39,957 ) $ 25 $ (716 ) Other comprehensive loss before reclassifications (5,281 ) — (5 ) (5,286 ) Less income (loss) reclassified from AOCI 1,087 (1,336 ) (18 ) (267 ) Net other comprehensive (loss) income (6,368 ) 1,336 13 (5,019 ) Income taxes 756 170 1 927 Ending balance, net of tax $ 32,092 $ (38,791 ) $ 37 $ (6,662 ) Nine Months Ended September 30, 2015 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 25,913 $ (64,570 ) $ (144 ) $ (38,801 ) Other comprehensive loss before reclassifications (1,899 ) — (396 ) (2,295 ) Less (loss) income reclassified from AOCI (258 ) (1,736 ) 37 (1,957 ) Net other comprehensive (loss) income (1,641 ) 1,736 (433 ) (338 ) Income taxes 329 54 (59 ) 324 Ending balance, net of tax $ 23,943 $ (62,888 ) $ (518 ) $ (39,463 ) Nine Months Ended September 30, 2014 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 38,663 $ (40,213 ) $ 131 $ (1,419 ) Other comprehensive loss before reclassifications (5,161 ) — (74 ) (5,235 ) Less income (loss) reclassified from AOCI 824 (1,570 ) 4 (742 ) Net other comprehensive (loss) income (5,985 ) 1,570 (78 ) (4,493 ) Income taxes 586 148 16 750 Ending balance, net of tax $ 32,092 $ (38,791 ) $ 37 $ (6,662 ) Details about reclassification out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended Nine Months Ended Affected line item on the Consolidated Statements of Operations Details of AOCI components 2015 2014 2015 2014 Unrealized (loss) gain on cash flow hedges: $ (119 ) $ 10 $ 26 $ (71 ) Sales (23 ) (28 ) 11 75 Other expense (income), net (142 ) (18 ) 37 4 Total before tax (25 ) (3 ) 7 (16 ) Income taxes $ (167 ) $ (21 ) $ 44 $ (12 ) Net of tax Retirement plans related adjustments: Amortization of prior service credit $ 79 $ 99 $ 241 $ 303 (a) Amortization of transition asset 19 69 61 211 (a) Amortization of actuarial loss (759 ) (417 ) (2,296 ) (1,260 ) (a) (661 ) (249 ) (1,994 ) (746 ) Total before tax 47 11 143 7 Income taxes $ (614 ) $ (238 ) $ (1,851 ) $ (739 ) Net of tax ____________________ (a) These AOCI components are included in the computation of net periodic pension and post retirement costs. See Note 12. "Pension and Postretirement Plans" for details.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period. In periods of earnings, the weighted average number of shares used in the diluted calculation 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 Nine Months Ended 2015 2014 2015 2014 Numerator for basic and diluted loss per share: Loss from continuing operations $ (327 ) $ (7,578 ) $ (149 ) $ (6,900 ) Gain from disposal of discontinued operation, net of tax — — — 218 Net loss applicable to common shareholders $ (327 ) $ (7,578 ) $ (149 ) $ (6,682 ) Denominator: Denominator for basic and diluted loss per share — weighted average shares 12,793 12,715 12,770 12,643 There is no dilutive effect of the restricted stock and stock options for the three and nine months ended September 30, 2015 and 2014 due to the net losses in those periods. There would have been 85,723 and 97,539 shares included in the diluted earnings per share calculation for the three and nine months ended September 30, 2015 , respectively, and 108,701 and 103,998 shares included in the diluted earnings per share calculation for the three and nine months ended September 30, 2014 , respectively, had the impact of including these securities not been anti-dilutive. Common stock equivalents of certain stock-based awards totaling 10,877 and 36,516 were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2015 and 2014 , respectively, as they were anti-dilutive. Common stock equivalents of certain stock-based awards totaling 19,989 and 44,208 were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2015 and 2014 , respectively, as they were anti-dilutive.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Segment income (loss) is measured for internal reporting purposes by excluding corporate expenses, impairment charges, 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 September 30, 2015 MMS ATA Inter-Segment Eliminations Total Sales $ 60,856 $ 16,005 $ (56 ) $ 76,805 Depreciation and amortization 1,643 553 2,196 Segment income 895 1,083 1,978 Capital expenditures 983 127 1,110 Three Months Ended September 30, 2014 MMS ATA Inter-Segment Eliminations Total Sales $ 52,353 $ 16,681 $ (110 ) $ 68,924 Depreciation and amortization 1,721 629 2,350 Segment (loss) income (1,715 ) 1,338 (377 ) Capital expenditures 457 249 706 Nine Months Ended September 30, 2015 MMS ATA Inter-Segment Eliminations Total Sales $ 180,042 $ 48,904 $ (657 ) $ 228,289 Depreciation and amortization 4,881 1,738 6,619 Segment income 1,729 4,137 5,866 Capital expenditures 2,229 874 3,103 Segment assets (1) 239,594 49,566 289,160 Nine Months Ended September 30, 2014 MMS ATA Inter-Segment Eliminations Total Sales $ 167,977 $ 50,909 $ (261 ) $ 218,625 Depreciation and amortization 5,255 1,916 7,171 Segment (loss) income (1,021 ) 5,072 4,051 Capital expenditures 1,136 694 1,830 Segment assets (1) 248,789 51,657 300,446 ____________________ (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 (loss) to consolidated income (loss) from operations before income taxes for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Segment income (loss) $ 1,978 $ (377 ) $ 5,866 $ 4,051 Unallocated corporate expense (1,224 ) (1,181 ) (3,995 ) (4,180 ) Interest expense, net (121 ) (156 ) (392 ) (522 ) Other unallocated income (expense) 2 (5,320 ) (149 ) (5,404 ) Income (loss) from continuing operations before income taxes $ 635 $ (7,034 ) $ 1,330 $ (6,055 ) A reconciliation of segment assets to consolidated total assets follows (in thousands): September 30, December 31, Total segment assets $ 289,160 $ 290,816 Unallocated assets 22,915 20,504 Total assets $ 312,075 $ 311,320 Unallocated assets include cash of $18.5 million and $16.3 million at September 30, 2015 and December 31, 2014 , respectively.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS In September 2015, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on accounting for purchase price adjustments. The amendments in this Update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this Update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. An entity is required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in the current period earnings by line item that would have been recorded in previous reporting periods if the adjustments of the provisional amounts had been recognized as of the acquisition date. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. In July 2015, the FASB issued authoritative guidance on the valuation of inventory. This guidance directs an entity to measure inventory at lower of cost and net realizable value, versus lower of cost or market. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016, and for interim periods within those fiscal years. Early application is permitted, and the guidance should be applied prospectively. The Company is evaluating the impact that this guidance will have on the financial statements and related disclosures. In April 2015, the FASB issued authoritative guidance on the balance sheet presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, and for interim periods within those fiscal years. Early application is permitted, and the guidance should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The Company has determined that the impact that this guidance will have on the financial statements and related disclosures is not material. In April 2015, the FASB provided authoritative guidance on accounting for cloud computing arrangements, including software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. This update provides guidance to customers about whether a cloud computing arrangement includes a software license, which should be accounted for consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015, with early adoption permitted. An entity may elect to adopt the amendments either prospectively or retrospectively. The Company is evaluating the method and impact that this guidance will have on the financial statements and related disclosures. In May 2014, the 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 performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. In July 2015, the FASB voted to defer the effective date of this standard by one year, but will allow companies to apply the standard on its original effective date of December 15, 2016. The new guidance is now effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 for public companies. 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.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	In September 2015, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on accounting for purchase price adjustments. The amendments in this Update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this Update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. An entity is required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in the current period earnings by line item that would have been recorded in previous reporting periods if the adjustments of the provisional amounts had been recognized as of the acquisition date. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. In July 2015, the FASB issued authoritative guidance on the valuation of inventory. This guidance directs an entity to measure inventory at lower of cost and net realizable value, versus lower of cost or market. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016, and for interim periods within those fiscal years. Early application is permitted, and the guidance should be applied prospectively. The Company is evaluating the impact that this guidance will have on the financial statements and related disclosures. In April 2015, the FASB issued authoritative guidance on the balance sheet presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, and for interim periods within those fiscal years. Early application is permitted, and the guidance should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The Company has determined that the impact that this guidance will have on the financial statements and related disclosures is not material. In April 2015, the FASB provided authoritative guidance on accounting for cloud computing arrangements, including software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. This update provides guidance to customers about whether a cloud computing arrangement includes a software license, which should be accounted for consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015, with early adoption permitted. An entity may elect to adopt the amendments either prospectively or retrospectively. The Company is evaluating the method and impact that this guidance will have on the financial statements and related disclosures. In May 2014, the 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 performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. In July 2015, the FASB voted to defer the effective date of this standard by one year, but will allow companies to apply the standard on its original effective date of December 15, 2016. The new guidance is now effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 for public companies. 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.

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	Sep. 30, 2015
ACQUISITION
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 nine months ended September 30, 2015 and 2014 , as if the Voumard acquisition had occurred on January 1, 2013 (in thousands, except per share data) : Three Months Ended Nine Months Ended 2015 2014 2015 2014 Sales $ 76,805 $ 72,342 $ 228,289 $ 225,053 Net loss from continuing operations (1) (327 ) (7,394 ) (149 ) (12,575 ) Diluted loss per share from continuing operations $ (0.03 ) $ (0.58 ) $ (0.01 ) $ (0.99 ) ____________________ (1) The pro forma results above include abbreviated financial results for Voumard, consisting of revenues and direct expenses for that product line. During the nine months ended September 30, 2014 , the Voumard business incurred $4.9 million in restructuring charges, which included inventory write-offs, headcount reductions and other related costs. These amounts are included in the pro forma information presented above.
Voumard
ACQUISITION
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the fair values of the assets acquired and liabilities assumed in the Voumard acquisition at the date of acquisition (in thousands): September 22, 2014 Assets Acquired Inventories $ 2,984 Property, plant and equipment 259 Drawings, customer lists, and other intangible assets 131 Total assets acquired 3,374 Liabilities Assumed Warranties 600 Deferred tax liability 162 Net assets acquired 2,612 Total purchase price 2,150 Bargain purchase gain $ 462

FAIR VALUE OF FINANCIAL INSTR26

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Financial Instruments, Owned, at Fair Value [Abstract]
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): September 30, 2015 December 31, 2014 Level of Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 18,535 $ 18,535 $ 16,293 $ 16,293 Level 1 Restricted cash 2,782 2,782 3,151 3,151 Level 1 Foreign currency forward contracts 299 299 307 307 Level 2 Liabilities: Variable interest rate debt 13,185 13,185 16,225 16,225 Level 2 Foreign currency forward contracts 1,321 1,321 629 629 Level 2

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of net inventories	Net inventories consists of the following (in thousands): September 30, December 31, Raw materials and purchased components $ 36,054 $ 36,717 Work-in-process 36,599 28,504 Finished products 46,540 46,600 Inventories, net $ 119,193 $ 111,821

DERIVATIVE FINANCIAL INSTRUME28

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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): September 30, December 31, Foreign currency forwards designated as hedges: Other current assets $ 142 $ 237 Accrued expenses (743 ) (385 ) Foreign currency forwards not designated as hedges: Other current assets 157 70 Accrued expenses (578 ) (244 ) Foreign currency forwards, net $ (1,022 ) $ (322 )

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule of components of property, plant and equipment, net	Property, plant and equipment consists of the following (in thousands): September 30, December 31, Land, buildings and improvements $ 83,531 $ 83,119 Machinery, equipment and fixtures 79,382 78,003 Office furniture, equipment and vehicles 22,626 22,265 Construction in progress 222 399 185,761 183,786 Accumulated depreciation (122,010 ) (117,912 ) Property, plant and equipment, net $ 63,751 $ 65,874

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2015
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, 2014: Goodwill $ 32,434 $ 6,698 $ 39,132 Accumulated impairment losses (32,434 ) — (32,434 ) Goodwill, net of impairment losses — 6,698 6,698 Current Year Activity: Currency translation adjustments — (62 ) (62 ) Total current year activity — (62 ) (62 ) Balance at September 30, 2015: Goodwill 32,434 6,636 39,070 Accumulated impairment losses (32,434 ) — (32,434 ) Goodwill, net of impairment losses $ — $ 6,636 $ 6,636
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): September 30, December 31, Gross amortizable intangible assets: Technical know-how $ 12,961 $ 12,984 Customer lists 9,020 9,047 Land rights 2,730 2,796 Patents, trade names, drawings, and other 4,395 4,345 Total gross amortizable intangible assets 29,106 29,172 Accumulated amortization: Technical know-how (6,557 ) (5,730 ) Customer lists (1,207 ) (871 ) Land rights (264 ) (228 ) Patents, trade names, drawings, and other (3,364 ) (3,227 ) Total accumulated amortization (11,392 ) (10,056 ) Amortizable intangible assets, net 17,714 19,116 Indefinite lived intangible assets: Trade names 10,797 11,101 Intangible assets other than goodwill, net $ 28,511 $ 30,217
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Amortization expense related to the definite-lived intangible assets are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Amortization expense $ 452 $ 448 $ 1,354 $ 1,339

WARRANTIES (Tables)

WARRANTIES (Tables)	9 Months Ended
	Sep. 30, 2015
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 " in the Consolidated Balance Sheets, is as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Balance at the beginning of period $ 4,037 $ 3,257 $ 3,891 $ 3,449 Warranties issued 682 538 2,081 1,750 Warranty settlement costs (620 ) (665 ) (2,068 ) (1,797 ) Changes in accruals for pre-existing warranties (11 ) 67 64 (217 ) Other adjustments (1) — 600 — 600 Currency translation adjustments (109 ) (141 ) 11 (129 ) Balance at the end of period $ 3,979 $ 3,656 $ 3,979 $ 3,656 ____________________ (1) Represents the warranty liabilities assumed in connection with the Voumard acquisition. Refer to Note 2. "Acquisitions" for details.

RESTRUCUTRING CHARGES (Tables)

RESTRUCUTRING CHARGES (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Summary of Cost Incurred and Expected to be Incurred and the Restructuring Reserve	The table below presents the total costs expected to be incurred in connection with the Program, the amount of costs that have been incurred during the three and nine months ended September 30, 2015 , and the cumulative costs incurred to date by the Program (in thousands): Total Costs Expected to be Incurred Total Costs Incurred in the Period Cumulative Costs Incurred to Date Three Months Ended Nine Months Ended MMS Segment: Employee termination costs $ 243 $ 243 $ 243 $ 243 Total MMS Segment 243 243 243 243 ATA Segment: Employee termination costs 2,718 549 549 549 Facility exit costs 605 — — — Other related costs 774 85 85 85 Total ATA Segment 4,097 634 634 634 Total: Employee termination costs 2,961 792 792 792 Facility exit costs 605 — — — Other related costs 774 85 85 85 Total company $ 4,340 $ 877 $ 877 $ 877 A rollforward of the accrued restructuring costs is presented below (in thousands): Segment Total MMS ATA Balance at December 31, 2014 $ — $ — $ — Restructuring charges: Employee termination costs 243 549 792 Other related costs — 85 85 Total restructuring charges 243 634 877 Cash expenditures (61 ) (95 ) (156 ) Foreign currency translation adjustment — (2 ) (2 ) Balance at September 30, 2015 $ 182 $ 537 $ 719

PENSION AND POSTRETIREMENT PL33

PENSION AND POSTRETIREMENT PLANS (Tables)	9 Months Ended
	Sep. 30, 2015
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 and postretirement benefit costs for the three and nine months ended September 30, 2015 and 2014 is presented below (in thousands): Pension Benefits Postretirement Benefits Three Months Ended Three Months Ended 2015 2014 2015 2014 Service cost $ 484 $ 352 $ 3 $ 3 Interest cost 1,673 2,107 19 22 Expected return on plan assets (2,395 ) (2,477 ) — — Amortization of prior service credit (79 ) (99 ) — — Amortization of transition asset (19 ) (69 ) — — Amortization of actuarial loss (gain) 772 431 (13 ) (14 ) Net periodic cost $ 436 $ 245 $ 9 $ 11 Pension Benefits Postretirement Benefits Nine Months Ended Nine Months Ended 2015 2014 2015 2014 Service cost $ 1,475 $ 1,078 $ 9 $ 9 Interest cost 5,024 6,351 56 66 Expected return on plan assets (7,208 ) (7,473 ) — — Amortization of prior service credit (241 ) (303 ) — — Amortization of transition asset (61 ) (211 ) — — Amortization of actuarial loss (gain) 2,334 1,302 (38 ) (42 ) Net periodic cost $ 1,323 $ 744 $ 27 $ 33

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2015
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 Nine Months Ended 2015 2014 2015 2014 Restricted stock/unit awards (“RSA”) $ 63 $ 109 $ 264 $ 327 Performance share incentives (“PSI”) 1 (170 ) (61 ) (170 ) $ 64 $ (61 ) $ 203 $ 157
Schedule of unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs and PSIs	Expected unrecognized compensation and the estimated weighted-average recognition periods with respect to the outstanding RSAs and PSIs as of September 30, 2015 and December 31, 2014 , are as follows: September 30, 2015 December 31, 2014 RSAs PSIs RSAs PSIs Unrecognized compensation cost (in thousands) $ 437 $ 81 $ 718 $ 554 Expected weighted-average recognition period for unrecognized compensation cost (in years) 1.46 0.50 1.64 2.13

CHANGES IN ACCUMULATED OTHER 35

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive loss by component	Changes in AOCI by component for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended September 30, 2015 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 30,487 $ (64,418 ) $ 134 $ (33,797 ) Other comprehensive loss before reclassifications (6,082 ) — (893 ) (6,975 ) Less income (loss) reclassified from AOCI 1,087 (1,748 ) (142 ) (803 ) Net other comprehensive (loss) income (7,169 ) 1,748 (751 ) (6,172 ) Income taxes (625 ) 218 (99 ) (506 ) Ending balance, net of tax $ 23,943 $ (62,888 ) $ (518 ) $ (39,463 ) Three Months Ended September 30, 2014 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 39,216 $ (39,957 ) $ 25 $ (716 ) Other comprehensive loss before reclassifications (5,281 ) — (5 ) (5,286 ) Less income (loss) reclassified from AOCI 1,087 (1,336 ) (18 ) (267 ) Net other comprehensive (loss) income (6,368 ) 1,336 13 (5,019 ) Income taxes 756 170 1 927 Ending balance, net of tax $ 32,092 $ (38,791 ) $ 37 $ (6,662 ) Nine Months Ended September 30, 2015 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 25,913 $ (64,570 ) $ (144 ) $ (38,801 ) Other comprehensive loss before reclassifications (1,899 ) — (396 ) (2,295 ) Less (loss) income reclassified from AOCI (258 ) (1,736 ) 37 (1,957 ) Net other comprehensive (loss) income (1,641 ) 1,736 (433 ) (338 ) Income taxes 329 54 (59 ) 324 Ending balance, net of tax $ 23,943 $ (62,888 ) $ (518 ) $ (39,463 ) Nine Months Ended September 30, 2014 Foreign Retirement Unrealized gain (loss) on cash flow hedges Accumulated other comprehensive loss Beginning balance, net of tax $ 38,663 $ (40,213 ) $ 131 $ (1,419 ) Other comprehensive loss before reclassifications (5,161 ) — (74 ) (5,235 ) Less income (loss) reclassified from AOCI 824 (1,570 ) 4 (742 ) Net other comprehensive (loss) income (5,985 ) 1,570 (78 ) (4,493 ) Income taxes 586 148 16 750 Ending balance, net of tax $ 32,092 $ (38,791 ) $ 37 $ (6,662 )
Schedule of reclassification out of AOCI	Details about reclassification out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended Nine Months Ended Affected line item on the Consolidated Statements of Operations Details of AOCI components 2015 2014 2015 2014 Unrealized (loss) gain on cash flow hedges: $ (119 ) $ 10 $ 26 $ (71 ) Sales (23 ) (28 ) 11 75 Other expense (income), net (142 ) (18 ) 37 4 Total before tax (25 ) (3 ) 7 (16 ) Income taxes $ (167 ) $ (21 ) $ 44 $ (12 ) Net of tax Retirement plans related adjustments: Amortization of prior service credit $ 79 $ 99 $ 241 $ 303 (a) Amortization of transition asset 19 69 61 211 (a) Amortization of actuarial loss (759 ) (417 ) (2,296 ) (1,260 ) (a) (661 ) (249 ) (1,994 ) (746 ) Total before tax 47 11 143 7 Income taxes $ (614 ) $ (238 ) $ (1,851 ) $ (739 ) Net of tax ____________________ (a) These AOCI components are included in the computation of net periodic pension and post retirement costs. See Note 12. "Pension and Postretirement Plans" for details.

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
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 Nine Months Ended 2015 2014 2015 2014 Numerator for basic and diluted loss per share: Loss from continuing operations $ (327 ) $ (7,578 ) $ (149 ) $ (6,900 ) Gain from disposal of discontinued operation, net of tax — — — 218 Net loss applicable to common shareholders $ (327 ) $ (7,578 ) $ (149 ) $ (6,682 ) Denominator: Denominator for basic and diluted loss per share — weighted average shares 12,793 12,715 12,770 12,643

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of financial results of reportable segments	Financial results for each reportable segment are as follows (in thousands): Three Months Ended September 30, 2015 MMS ATA Inter-Segment Eliminations Total Sales $ 60,856 $ 16,005 $ (56 ) $ 76,805 Depreciation and amortization 1,643 553 2,196 Segment income 895 1,083 1,978 Capital expenditures 983 127 1,110 Three Months Ended September 30, 2014 MMS ATA Inter-Segment Eliminations Total Sales $ 52,353 $ 16,681 $ (110 ) $ 68,924 Depreciation and amortization 1,721 629 2,350 Segment (loss) income (1,715 ) 1,338 (377 ) Capital expenditures 457 249 706 Nine Months Ended September 30, 2015 MMS ATA Inter-Segment Eliminations Total Sales $ 180,042 $ 48,904 $ (657 ) $ 228,289 Depreciation and amortization 4,881 1,738 6,619 Segment income 1,729 4,137 5,866 Capital expenditures 2,229 874 3,103 Segment assets (1) 239,594 49,566 289,160 Nine Months Ended September 30, 2014 MMS ATA Inter-Segment Eliminations Total Sales $ 167,977 $ 50,909 $ (261 ) $ 218,625 Depreciation and amortization 5,255 1,916 7,171 Segment (loss) income (1,021 ) 5,072 4,051 Capital expenditures 1,136 694 1,830 Segment assets (1) 248,789 51,657 300,446 ____________________ (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 (loss) to consolidated income (loss) from operations before income taxes for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Segment income (loss) $ 1,978 $ (377 ) $ 5,866 $ 4,051 Unallocated corporate expense (1,224 ) (1,181 ) (3,995 ) (4,180 ) Interest expense, net (121 ) (156 ) (392 ) (522 ) Other unallocated income (expense) 2 (5,320 ) (149 ) (5,404 ) Income (loss) from continuing operations before income taxes $ 635 $ (7,034 ) $ 1,330 $ (6,055 )
Schedule of reconciliation of segment assets to consolidated total assets	A reconciliation of segment assets to consolidated total assets follows (in thousands): September 30, December 31, Total segment assets $ 289,160 $ 290,816 Unallocated assets 22,915 20,504 Total assets $ 312,075 $ 311,320

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)reportable_segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable business segments (segment)	2
Inventory valuation adjustment | $	$ 0.7

ACQUISITION (Details)

ACQUISITION (Details) $ / shares in Units, $ in Thousands, € in Millions		Sep. 22, 2014USD ($)machine_solutioncustomer	Sep. 22, 2014EUR (€)machine_solutioncustomer	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares
Liabilities assumed
Gain on purchase of business						$ 0	$ 462
Supplemental Pro Forma Information
Sales				$ 76,805	$ 72,342	228,289	225,053
Net loss from continuing operations(1)	[1]			$ (327)	$ (7,394)	$ (149)	$ (12,575)
Diluted loss per share from continuing operations (in dollars per share) | $ / shares				$ (0.03)	$ (0.58)	$ (0.01)	$ (0.99)
Restructuring charges				$ 877	$ 0	$ 877	$ 0
Voumard
ACQUISITION
Cash used in funding of acquisition		$ 2,150	€ 1.7
Assets Acquired
Inventories		2,984
Property, plant and equipment		259
Drawings, customer lists, and other intangible assets		131
Total assets acquired		3,374
Liabilities assumed
Warranties		600
Deferred tax liability		162
Net assets acquired		$ 2,612
Installed Machine Base (machine solutions) | machine_solution		9,000	9,000
Customer Base (customers) | customer		2,500	2,500
Gain on purchase of business		$ 462
Supplemental Pro Forma Information
Restructuring charges							$ 4,900
Technical Know How [Member]
Assets Acquired
Drawings, customer lists, and other intangible assets		$ 100
[1]	The pro forma results above include abbreviated financial results for Voumard, consisting of revenues and direct expenses for that product line. During the nine months ended September 30, 2014, the Voumard business incurred $4.9 million in restructuring charges, which included inventory write-offs, headcount reductions and other related costs. These amounts are included in the pro forma information presented above.

FAIR VALUE OF FINANCIAL INSTR40

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial instruments
Cash and cash equivalents	$ 18,535	$ 16,293	$ 15,005	$ 34,722
Restricted cash	2,782	3,151
Foreign currency forward contracts, net	1,022	322
Recurring | Level 1
Financial instruments
Cash and cash equivalents	18,535	16,293
Cash and cash equivalents, fair value	18,535	16,293
Restricted cash	2,782	3,151
Restricted cash, fair value	2,782	3,151
Recurring | Level 2
Financial instruments
Foreign currency forward contracts, assets	299	307
Variable interest rate debt	13,185	16,225
Variable interest rate debt, fair value	13,185	16,225
Foreign currency forward contracts, net	$ 1,321	$ 629

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials and purchased components	$ 36,054	$ 36,717
Work-in-process	36,599	28,504
Finished products	46,540	46,600
Inventories, net	$ 119,193	$ 111,821

DERIVATIVE FINANCIAL INSTRUME42

DERIVATIVE FINANCIAL INSTRUMENTS (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (1.9)	$ 0.4	$ (0.3)	$ (0.1)
Foreign Exchange Contract [Member] | Cash flow hedges
Derivative [Line Items]
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	0.6		0.6
Notional Amount	38.4		38.4		$ 24.8
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Notional Amount	$ 38.4		$ 38.4		$ 38.3

DERIVATIVE FINANCIAL INSTRUME43

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency forwards designated as hedges - Other current assets	$ 142	$ 237
Foreign currency forwards designated as hedges - Accrued expenses	(743)	(385)
Foreign currency forwards not designated as hedges - Other current assets	157	70
Foreign currency forwards not designated as hedges - Accrued expenses	(578)	(244)
Foreign currency forward contracts, net	$ (1,022)	$ (322)

PROPERTY, PLANT AND EQUIPMENT44

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Property, plant and equipment
Property, plant and equipment, gross	$ 185,761	$ 183,786
Accumulated depreciation	(122,010)	(117,912)
Property, plant and equipment, net	63,751	65,874
Land, buildings and improvements
Property, plant and equipment
Property, plant and equipment, gross	83,531	83,119
Machinery, equipment and fixtures
Property, plant and equipment
Property, plant and equipment, gross	79,382	78,003
Office furniture, equipment and vehicles
Property, plant and equipment
Property, plant and equipment, gross	22,626	22,265
Construction in progress
Property, plant and equipment
Property, plant and equipment, gross	$ 222	$ 399

GOODWILL AND INTANGIBLE ASSET45

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Summary of goodwill amount
Gross carrying value of goodwill	$ 39,070	$ 39,132
Accumulated impairment losses	(32,434)	(32,434)
Currency translation adjustments	(62)
Goodwill, Period Decrease	(62)
Balance at the end of the period	6,636	6,698
MMS
Summary of goodwill amount
Gross carrying value of goodwill	32,434	32,434
Accumulated impairment losses	(32,434)	(32,434)
Currency translation adjustments	0
Goodwill, Period Decrease	0
Balance at the end of the period	0	0
ATA
Summary of goodwill amount
Gross carrying value of goodwill	6,636	6,698
Accumulated impairment losses	0	0
Currency translation adjustments	(62)
Goodwill, Period Decrease	(62)
Balance at the end of the period	$ 6,636	$ 6,698

GOODWILL AND INTANGIBLE ASSET46

GOODWILL AND INTANGIBLE ASSETS (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 29,106	$ 29,172
Finite-Lived Intangible Assets, Accumulated Amortization	(11,392)	(10,056)
Finite-Lived Intangible Assets, Net	17,714	19,116
Other intangible assets, net	28,511	30,217
Technical Know How [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	12,961	12,984
Finite-Lived Intangible Assets, Accumulated Amortization	(6,557)	(5,730)
Customer Lists [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	9,020	9,047
Finite-Lived Intangible Assets, Accumulated Amortization	(1,207)	(871)
Land Rights [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	2,730	2,796
Finite-Lived Intangible Assets, Accumulated Amortization	(264)	(228)
Patents, trade names, drawings, and other [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	4,395	4,345
Finite-Lived Intangible Assets, Accumulated Amortization	(3,364)	(3,227)
Trade Names [Member]
Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 10,797	$ 11,101

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 452	$ 448	$ 1,354	$ 1,339

WARRANTIES (Details)

WARRANTIES (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2014
Changes in product warranty accrual
Balance at the beginning of period	$ 4,037	$ 3,257		$ 3,891	$ 3,449
Warranties issued	682	538		2,081	1,750
Warranty settlement costs	(620)	(665)		(2,068)	(1,797)
Changes in accruals for pre-existing warranties	(11)	67		64	(217)
Other adjustments	0	600	[1]	0	600	[1]
Currency translation adjustments	(109)	(141)		11	(129)
Balance at the end of period	$ 3,979	$ 3,656		$ 3,979	$ 3,656
[1]	(1) Represents the warranty liabilities assumed in connection with the Voumard acquisition. Refer to Note 2. "Acquisitions" for details.

RESTRUCUTRING CHARGES (Details)

RESTRUCUTRING CHARGES (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Minimum
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Annual pre-tax savings, generated from restructuring	$ 4,000,000
Maximum
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Annual pre-tax savings, generated from restructuring	$ 5,000,000

RESTRUCUTRING CHARGES (Cost Inc

RESTRUCUTRING CHARGES (Cost Incurred and Expected to be Incurred) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	$ 4,340		$ 4,340
Restructuring charges	877	$ 0	877	$ 0
Cumulative Costs Incurred to Date	877		877
Employee termination costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	2,961		2,961
Restructuring charges	792		792
Cumulative Costs Incurred to Date	792		792
Facility exit costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	605		605
Restructuring charges	0		0
Cumulative Costs Incurred to Date	0		0
Other related costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	774		774
Restructuring charges	85		85
Cumulative Costs Incurred to Date	85		85
Operating segment | MMS
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	243		243
Restructuring charges	243		243
Cumulative Costs Incurred to Date	243		243
Operating segment | MMS | Employee termination costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	243		243
Restructuring charges	243		243
Cumulative Costs Incurred to Date	243		243
Operating segment | MMS | Other related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Operating segment | ATA
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	4,097		4,097
Restructuring charges	634		634
Cumulative Costs Incurred to Date	634		634
Operating segment | ATA | Employee termination costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	2,718		2,718
Restructuring charges	549		549
Cumulative Costs Incurred to Date	549		549
Operating segment | ATA | Facility exit costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	605		605
Restructuring charges	0		0
Cumulative Costs Incurred to Date	0		0
Operating segment | ATA | Other related costs
Restructuring Cost and Reserve [Line Items]
Total Costs Expected to be Incurred	774		774
Restructuring charges	85		85
Cumulative Costs Incurred to Date	$ 85		$ 85

RESTRUCUTRING CHARGES (Restruct

RESTRUCUTRING CHARGES (Restructuring Reserve) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring Reserve [Roll Forward]
Balance at December 31, 2014			$ 0
Restructuring charges	$ 877	$ 0	877	$ 0
Cash expenditures			(156)
Foreign currency translation adjustment			(2)
Balance at September 30, 2015	719		719
Employee termination costs
Restructuring Reserve [Roll Forward]
Restructuring charges	792		792
Other related costs
Restructuring Reserve [Roll Forward]
Restructuring charges	85		85
Operating segment | MMS
Restructuring Reserve [Roll Forward]
Balance at December 31, 2014			0
Restructuring charges	243		243
Cash expenditures			(61)
Foreign currency translation adjustment			0
Balance at September 30, 2015	182		182
Operating segment | MMS | Employee termination costs
Restructuring Reserve [Roll Forward]
Restructuring charges	243		243
Operating segment | MMS | Other related costs
Restructuring Reserve [Roll Forward]
Restructuring charges			0
Operating segment | ATA
Restructuring Reserve [Roll Forward]
Balance at December 31, 2014			0
Restructuring charges	634		634
Cash expenditures			(95)
Foreign currency translation adjustment			(2)
Balance at September 30, 2015	537		537
Operating segment | ATA | Employee termination costs
Restructuring Reserve [Roll Forward]
Restructuring charges	549		549
Operating segment | ATA | Other related costs
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 85		$ 85

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Income Tax Contingency [Line Items]
Effective tax rate (as a percent)	151.50%	111.20%
Uncertain income tax position	$ 2.6	$ 2.6
Interest and penalties included in uncertain income tax position	0.4	0.4
Minimum
Income Tax Contingency [Line Items]
Decrease in Unrecognized Tax Benefits is Reasonably Possible	0.5	0.5
Maximum
Income Tax Contingency [Line Items]
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 1.7	$ 1.7

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Sep. 30, 2015USD ($)	Jul. 28, 2015USD ($)
Commitments and Contingencies
Number of draft Feasibility Studies submitted	2
Estimated life-cycle costs, minimum		$ 0.9
Estimated life-cycle costs, maximum		$ 3.5
Reserve for estimated life-cycle costs	$ 0.3
Minimum
Commitments and Contingencies
Loss contingency, entity portion of potential cost	0.1
Maximum
Commitments and Contingencies
Loss contingency, entity portion of potential cost	$ 0.5

PENSION AND POSTRETIREMENT PL54

PENSION AND POSTRETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Benefits
Components of net periodic benefit cost
Service cost	$ 484	$ 352	$ 1,475	$ 1,078
Interest cost	1,673	2,107	5,024	6,351
Expected return on plan assets	(2,395)	(2,477)	(7,208)	(7,473)
Amortization of prior service credit	(79)	(99)	(241)	(303)
Amortization of transition asset	(19)	(69)	(61)	(211)
Amortization of actuarial loss (gain)	772	431	2,334	1,302
Net periodic cost	436	245	1,323	744
Postretirement Benefits
Components of net periodic benefit cost
Service cost	3	3	9	9
Interest cost	19	22	56	66
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	0	0	0	0
Amortization of transition asset	0	0	0	0
Amortization of actuarial loss (gain)	(13)	(14)	(38)	(42)
Net periodic cost	$ 9	$ 11	$ 27	$ 33

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Stock-based compensation
Stock based compensation expenses	$ 64	$ (61)	$ 203	$ 157
Restricted stock/units awards
Stock-based compensation
Stock based compensation expenses	63	109	264	$ 327
Unrecognized compensation and expected weighted-average recognition period
Unrecognized compensation cost	437		$ 437		$ 718
Expected weighted-average recognition period for unrecognized compensation cost (in years)			1 year 5 months 16 days	1 year 7 months 20 days
Performance share incentives
Stock-based compensation
Stock based compensation expenses	1	$ (170)	$ (61)	$ (170)
Unrecognized compensation and expected weighted-average recognition period
Unrecognized compensation cost	$ 81		$ 81		$ 554
Expected weighted-average recognition period for unrecognized compensation cost (in years)			6 months	2 years 1 month 17 days

STOCK BASED COMPENSATION (Det56

STOCK BASED COMPENSATION (Details Textual) - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
RSA units granted during period	0	0
PSI units granted during period	0	0
RSA units vested during period	50,000

CHANGES IN ACCUMULATED OTHER 57

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Changes in AOCI by component
Beginning balance, net of tax	$ (33,797)	$ (716)	$ (38,801)	$ (1,419)
Other comprehensive income (loss) before reclassifications	(6,975)	(5,286)	(2,295)	(5,235)
Less income (loss) reclassified from AOCI	(803)	(267)	(1,957)	(742)
Net other comprehensive (loss) income	(6,172)	(5,019)	(338)	(4,493)
Income taxes	506	(927)	(324)	(750)
Ending balance, net of tax	(39,463)	(6,662)	(39,463)	(6,662)
Foreign currency translation adjustments
Changes in AOCI by component
Beginning balance, net of tax	30,487	39,216	25,913	38,663
Other comprehensive income (loss) before reclassifications	(6,082)	(5,281)	(1,899)	(5,161)
Less income (loss) reclassified from AOCI	1,087	1,087	(258)	824
Net other comprehensive (loss) income	(7,169)	(6,368)	(1,641)	(5,985)
Income taxes	(625)	756	329	586
Ending balance, net of tax	23,943	32,092	23,943	32,092
Retirement plans related adjustments
Changes in AOCI by component
Beginning balance, net of tax	(64,418)	(39,957)	(64,570)	(40,213)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Less income (loss) reclassified from AOCI	(1,748)	(1,336)	(1,736)	(1,570)
Net other comprehensive (loss) income	1,748	1,336	1,736	1,570
Income taxes	218	170	54	148
Ending balance, net of tax	(62,888)	(38,791)	(62,888)	(38,791)
Unrealized gain (loss) on cash flow hedges
Changes in AOCI by component
Beginning balance, net of tax	134	25	(144)	131
Other comprehensive income (loss) before reclassifications	(893)	(5)	(396)	(74)
Less income (loss) reclassified from AOCI	(142)	(18)	37	4
Net other comprehensive (loss) income	(751)	13	(433)	(78)
Income taxes	(99)	1	(59)	16
Ending balance, net of tax	$ (518)	$ 37	$ (518)	$ 37

CHANGES IN ACCUMULATED OTHER 58

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Details 2) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification out of AOCI
Sales		$ 76,805	$ 68,924	$ 228,289	$ 218,625
Other expense (income), net		(201)	334	(276)	(249)
Income (loss) from continuing operations before income taxes		635	(7,034)	1,330	(6,055)
Income taxes		(962)	(544)	(1,479)	(845)
Net loss		(327)	(7,578)	(149)	(6,682)
Unrealized gain (loss) on cash flow hedges | Amount reclassified from AOCI
Reclassification out of AOCI
Sales		(119)	10	26	(71)
Other expense (income), net		(23)	(28)	11	75
Income (loss) from continuing operations before income taxes		(142)	(18)	37	4
Income taxes		(25)	(3)	7	(16)
Net loss		(167)	(21)	44	(12)
Retirement plans related adjustments | Amount reclassified from AOCI
Reclassification out of AOCI
Amortization of prior service credit	[1]	79	99	241	303
Amortization of transition asset	[1]	19	69	61	211
Amortization of actuarial loss	[1]	(759)	(417)	(2,296)	(1,260)
Income (loss) from continuing operations before income taxes		(661)	(249)	(1,994)	(746)
Income taxes		47	11	143	7
Net loss		$ (614)	$ (238)	$ (1,851)	$ (739)
[1]	These AOCI components are included in the computation of net periodic pension and post retirement costs. See Note 12. "Pension and Postretirement Plans" for details.

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator for basic and diluted loss per share:
Loss from continuing operations	$ (327)	$ (7,578)	$ (149)	$ (6,900)
Gain from disposal of discontinued operation, net of tax	0	0	0	218
Net loss applicable to common shareholders	$ (327)	$ (7,578)	$ (149)	$ (6,682)
Denominator:
Denominator for diluted earnings per share - weighted average shares (in shares)	12,793,000	12,715,000	12,770,000	12,643,000
Anti-dilutive stock-based awards excluded from calculation of diluted earnings per share (in shares)	85,723	108,701	97,539	103,998
Stock Compensation Plan
Denominator:
Anti-dilutive stock-based awards excluded from calculation of diluted earnings per share (in shares)	10,877	36,516	19,989	44,208

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014
Financial results of reportable segments
Sales		$ 76,805		$ 68,924		$ 228,289		$ 218,625
Depreciation and amortization						6,831		7,317
Segment income (loss)		756		(6,878)		1,722		(5,533)
Capital expenditures						3,103		1,830
Segment assets		312,075				312,075				$ 311,320
Reconciliation of segment income to consolidated income before income taxes
Income (loss) from continuing operations before income taxes		635		(7,034)		1,330		(6,055)
Operating segment
Financial results of reportable segments
Sales		76,805		68,924		228,289		218,625
Depreciation and amortization		2,196		2,350		6,619		7,171
Segment income (loss)		1,978		(377)		5,866		4,051
Capital expenditures		1,110		706		3,103		1,830
Segment assets		289,160	[1]	300,446	[1]	289,160	[1]	300,446	[1]	290,816
Reconciliation of segment income to consolidated income before income taxes
Unallocated corporate expense		(1,224)		(1,181)		(3,995)		(4,180)
Interest expense, net		121		156		392		522
Other unallocated expense		2		(5,320)		(149)		(5,404)
Income (loss) from continuing operations before income taxes		635		(7,034)		1,330		(6,055)
Operating segment | MMS
Financial results of reportable segments
Sales		60,856		52,353		180,042		167,977
Depreciation and amortization		1,643		1,721		4,881		5,255
Segment income (loss)		895		(1,715)		1,729		(1,021)
Capital expenditures		983		457		2,229		1,136
Segment assets	[1]	239,594		248,789		239,594		248,789
Operating segment | ATA
Financial results of reportable segments
Sales		16,005		16,681		48,904		50,909
Depreciation and amortization		553		629		1,738		1,916
Segment income (loss)		1,083		1,338		4,137		5,072
Capital expenditures		127		249		874		694
Segment assets	[1]	49,566		51,657		49,566		51,657
Inter-Segment Eliminations
Financial results of reportable segments
Sales		(56)		$ (110)		(657)		$ (261)
Unallocated assets
Financial results of reportable segments
Segment assets		22,915				22,915				20,504
Reconciliation of segment income to consolidated income before income taxes
Cash		$ 18,500				$ 18,500				$ 16,300
[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.