CECO Environmental (CECO) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	CECE
Entity Registrant Name	CECO ENVIRONMENTAL CORP
Entity Central Index Key	0000003197
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity File Number	0-7099
Entity Tax Identification Number	13-2566064
Entity Address, Address Line One	14651 North Dallas Parkway
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75254
City Area Code	214
Local Phone Number	357-6181
Entity Common Stock, Shares Outstanding		35,243,663
Entity Interactive Data Current	Yes
Document Transition Report	false
Document Quarterly Report	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 28,963	$ 43,676
Restricted cash	1,276	762
Accounts receivable, net	58,091	53,225
Costs and estimated earnings in excess of billings on uncompleted contracts	34,409	29,694
Inventories, net	19,659	20,817
Prepaid expenses and other current assets	12,879	10,117
Prepaid income taxes	2,419	1,388
Assets held for sale	589	1,186
Total current assets	158,285	160,865
Property, plant and equipment, net	13,857	22,200
Right-of-use assets from operating leases	13,810
Goodwill	151,969	152,156
Intangible assets – finite life, net	33,252	35,959
Intangible assets – indefinite life	14,280	18,258
Deferred charges and other assets	4,187	3,144
Total assets	389,640	392,582
Current liabilities:
Current portion of debt	2,500
Accounts payable and accrued expenses	78,264	80,229
Billings in excess of costs and estimated earnings on uncompleted contracts	23,013	20,144
Note payable		1,700
Income taxes payable		1,813
Total current liabilities	103,777	103,886
Other liabilities	18,649	26,925
Debt, less current portion	64,995	74,456
Deferred income tax liability, net	6,717	8,755
Operating lease liabilities (Note 12)	11,328
Total liabilities	205,466	214,022
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $.01 par value; 10,000 shares authorized, none issued
Common stock, $.01 par value; 100,000,000 shares authorized, 35,243,663 and 34,953,825 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	353	349
Capital in excess of par value	253,757	251,409
Accumulated loss	(54,736)	(59,427)
Accumulated other comprehensive loss	(14,844)	(13,415)
Stockholders' equity before treasury stock	184,530	178,916
Less treasury stock, at cost, 137,920 shares at September 30, 2019 and December 31, 2018	(356)	(356)
Total shareholders’ equity	184,174	178,560
Total liabilities and shareholders' equity	$ 389,640	$ 392,582

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	35,243,663	34,953,825
Common Stock, shares outstanding	34,953,825	34,953,825
Treasury stock, shares	137,920	137,920

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 85,266	$ 88,256	$ 252,456	$ 243,485
Cost of sales	56,489	59,582	168,400	161,725
Gross profit	28,777	28,674	84,056	81,760
Selling and administrative expenses	21,823	22,216	65,573	66,147
Amortization and earnout expenses	2,166	1,998	6,480	7,394
Loss on divestitures, net of selling costs		15,074	70	3,970
Restructuring expenses (income), net	729	(173)	968	(23)
Income (loss) from operations	4,059	(10,441)	10,965	4,272
Other (expense) income, net	(73)	592	95	(119)
Interest expense	(1,316)	(1,729)	(4,319)	(5,442)
Income (loss) before income taxes	2,670	(11,578)	6,741	(1,289)
Income tax expense (benefit)	739	1,337	(2,569)	6,764
Net income (loss)	$ 1,931	$ (12,915)	$ 9,310	$ (8,053)
Earnings (loss) per share:
Basic	$ 0.06	$ (0.37)	$ 0.27	$ (0.23)
Diluted	$ 0.05	$ (0.37)	$ 0.26	$ (0.23)
Weighted average number of common shares outstanding:
Basic	35,070,449	34,779,125	34,944,056	34,681,262
Diluted	35,624,590	34,779,125	35,522,568	34,681,262

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 1,931	$ (12,915)	$ 9,310	$ (8,053)
Other comprehensive income (loss), net of tax:
Interest rate swap		(26)	(506)	222
Foreign currency translation	(1,169)	(1,779)	(935)	(3,060)
Comprehensive income (loss)	$ 762	$ (14,720)	$ 7,869	$ (10,891)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Loss [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2017	$ 186,569	$ 347	$ 248,170	$ (52,673)	$ (8,919)	$ (356)
Beginning Balance, Shares at Dec. 31, 2017		34,708,000				(138,000)
Net income (loss)	(8,053)			(8,053)
Cumulative effect adjustment | ASU 2018-02 and ASU 2014-09 [Member]	(652)			415	(1,067)
Exercise of stock options	$ 89		89
Exercise of stock options, Shares	16,000	16,000
Restricted stock units issued	$ (215)	$ (2)	(174)	43
Restricted stock units issued, Shares		51,000
Share based compensation earned	2,508		2,508
Share based compensation earned, Shares		38,000
Adjustment for interest rate swap	222				222
Translation loss	(3,060)				(3,060)
Ending Balance at Sep. 30, 2018	177,408	$ 349	250,593	(60,354)	(12,824)	$ (356)
Ending Balance, Shares at Sep. 30, 2018		34,813,000				(138,000)
Beginning Balance at Dec. 31, 2018	178,560	$ 349	251,409	(59,427)	(13,415)	$ (356)
Beginning Balance, Shares at Dec. 31, 2018		34,954,000				(138,000)
Net income (loss)	9,310			9,310
Cumulative effect adjustment | ASU 2017-12 and ASU 2016-02 [Member]	$ (4,590)			(4,602)	12
Exercise of stock options, Shares	1,000
Restricted stock units issued	$ (438)	$ (4)	(425)	17
Restricted stock units issued, Shares		255,000
Share based compensation earned	2,773		2,773
Share based compensation earned, Shares		35,000
Adjustment for interest rate swap	(506)				(506)
Translation loss	(935)				(935)
Ending Balance at Sep. 30, 2019	$ 184,174	$ 353	$ 253,757	$ (54,736)	$ (14,844)	$ (356)
Ending Balance, Shares at Sep. 30, 2019		35,244,000				(138,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 1,931	$ (12,915)	$ 9,310	$ (8,053)
Adjustment to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	2,633	3,937	8,153	10,097
Unrealized foreign currency loss			496	763
Net gain on interest rate swaps			(248)	(130)
Fair value adjustments to earnout liabilities				(330)
Earnout payments				(2,862)
Loss (gain) on sale of property and equipment			58	(214)
Loss on divestitures, net of selling costs		15,074	70	3,970
Debt discount amortization			928	862
Share-based compensation expense			2,684	2,342
Bad debt expense	300	600	710	1,225
Inventory reserve expense			454	554
Deferred income tax benefit			(595)	(1,079)
Changes in operating assets and liabilities, net of divestitures:
Accounts receivable			(6,090)	(20,056)
Costs and estimated earnings in excess of billings on uncompleted contracts			(5,196)	(4,446)
Inventories			527	(3,161)
Prepaid expense and other current assets			(3,853)	(1,584)
Deferred charges and other assets			(1,628)	(736)
Accounts payable and accrued expenses			(4,217)	19,183
Billings in excess of costs and estimated earnings on uncompleted contracts			2,879	8,355
Income taxes payable			(1,679)	(23)
Other liabilities			(3,396)	(1,035)
Net cash (used in) provided by operating activities			(633)	3,642
Cash flows from investing activities:
Acquisitions of property and equipment			(3,746)	(1,897)
Net cash proceeds from divestitures				33,064
Proceeds from sale of property and equipment			509	6,311
Net cash (used in) provided by investing activities			(3,237)	37,478
Cash flows from financing activities:
Net repayments on revolving credit lines			(6,147)	(3,754)
Repayments of debt			(2,325)	(34,256)
Deferred financing fees paid			(1,117)
Proceeds from lease financing transaction				800
Payments on finance leases and financing liability			(368)	(508)
Proceeds from employee stock purchase plan and exercise of stock options			76	82
Net cash used in financing activities			(9,881)	(37,636)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(448)	(1,433)
Net (decrease) increase in cash, cash equivalents and restricted cash			(14,199)	2,051
Cash, cash equivalents and restricted cash at beginning of period			44,438	30,659	$ 30,659
Cash, cash equivalents and restricted cash at end of period	$ 30,239	$ 32,710	30,239	32,710	$ 44,438
Cash paid during the period for:
Interest			2,651	4,288
Income taxes			$ 5,234	$ 8,567

Basis of Reporting for Consolid

Basis of Reporting for Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Reporting for Consolidated Financial Statements	1. Basis of Reporting for Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of CECO Environmental Corp. and its subsidiaries (the “Company”, “we”, “us”, or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2019 and the results of operations, cash flows and shareholders’ equity for the three-month and nine-month periods ended September 30, 2019 and 2018. The results of operations for the three-month and nine-month periods ended September 30, 2019 are not necessarily indicative of the results to be expected for the full year. The balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 as filed with the SEC. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These financial statements and accompanying notes should be read in conjunction with the audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC. Unless otherwise indicated, all balances within tables are in thousands, except per share amounts.

New Financial Accounting Pronou

New Financial Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Changes And Error Corrections [Abstract]
New Financial Accounting Pronouncements	2. New Financial Accounting Pronouncements Accounting Standards adopted in Fiscal 2019 In February 2016, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) and related disclosure requirements and establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Under the guidance, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. We adopted ASU 2016-02 effective January 1, 2019, using the modified retrospective method which was applied to leases that existed or were entered into on or after January 1, 2019. The Company elected to utilize the package of practical expedients that allows us to 1) not reassess whether any expired or existing contracts are or contain leases, 2) retain the existing classification of lease contracts as of the date of adoption, and 3) not reassess initial direct costs for any existing leases. We also elected to not separate lease and non-lease components, for all leases. The adoption of this standard had a material impact on our consolidated balance sheet due to the recognition of ROU assets and liabilities for our operating leases totaling $13.3 million, as well as an adjustment to beginning equity of $4.6 million, net of tax, related to a prior sales lease back transaction. The adoption of the standard did not have a material impact on our statement of operations or liquidity. See Note 12 – Leases for disclosures related to the amended guidance. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” This guidance expands an entity’s ability to apply hedge accounting for nonfinancial and financial risk components and allows for a simplified approach for fair value hedging of interest rate risk. Additionally, this ASU eliminates the need to separately measure and report hedge ineffectiveness and generally requires the entire change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item. Accounting Standards Yet to be Adopted In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” that makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. The new guidance eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new ones that the FASB considers pertinent. ASU 2018-14 is effective for the Company January 1, 2021. The Company is evaluating the impact of the adoption of ASU 2018-14 on its consolidated financial statements.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Accounts Receivable	3. Accounts Receivable (table only in thousands) September 30, 2019 December 31, 2018 Contract receivables $ 49,925 $ 48,826 Trade receivables 10,877 7,296 Allowance for doubtful accounts (2,711 ) (2,897 ) Total accounts receivable $ 58,091 $ 53,225 Balances billed but not paid by customers under retainage provisions in contracts within the Condensed Consolidated Balance Sheets amounted to approximately $1.4 million and $0.9 million at September 30, 2019 and December 31, 2018, respectively. Retainage receivables on contracts in progress are generally collected within a year after contract completion. Bad debt expense was $0.3 million and $0.6 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $0.7 million and $1.2 million for the nine-month periods ended September 30, 2019 and 2018, respectively.

Costs and Estimated Earnings on

Costs and Estimated Earnings on Uncompleted Contracts	9 Months Ended
	Sep. 30, 2019
Text Block [Abstract]
Costs and Estimated Earnings on Uncompleted Contracts	4. Costs and Estimated Earnings on Uncompleted Contracts Our contracts have various lengths to completion ranging from a few days to several months. We anticipate that a majority of our current contracts will be completed within the next twelve to eighteen months. A significant amount of our revenue within the Energy Solutions and Industrial Solutions segments is recognized over a period of time as we perform under the contract because control of the work in process transfers continuously to the customer. The assets and liabilities recognized in association with these contracts are as follows: (table only in thousands) September 30, 2019 December 31, 2018 Costs incurred on uncompleted contracts $ 220,631 $ 174,168 Estimated earnings 83,186 67,427 Total costs and estimated earnings on uncompleted contracts, gross 303,817 241,595 Less billings to date (292,421 ) (232,045 ) Total costs and estimated earnings on uncompleted contracts, net $ 11,396 $ 9,550 Included in the accompanying condensed consolidated balance sheets under the following captions: Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,409 $ 29,694 Billings in excess of costs and estimated earnings on uncompleted contracts (23,013 ) (20,144 ) Total costs and estimated earnings on uncompleted contracts, net $ 11,396 $ 9,550 Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes to job performance, job conditions, and estimated profitability may result in revisions to contract revenue and costs, and are recognized in the period in which the revisions are made.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	5. Inventories (table only in thousands) September 30, 2019 December 31, 2018 Raw materials $ 15,794 $ 15,819 Work in process 5,983 6,098 Finished goods 574 807 Obsolescence allowance (2,692 ) (1,907 ) Total inventories $ 19,659 $ 20,817 Amounts credited to the allowance for obsolete inventory and charged to cost of sales amounted to $0.1 million for the three-month periods ended September 30, 2019 and 2018 and $0.5 million and $0.6 million for the nine-month periods ended September 30, 2019 and 2018, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets (table only in thousands) Nine months ended September 30, 2019 Year ended December 31, 2018 Goodwill / Tradename Goodwill Tradename Goodwill Tradename Beginning balance $ 152,156 $ 18,258 $ 166,951 $ 19,691 Transfers to finite life classification — (3,904 ) — — Divestitures — — (14,317 ) (1,340 ) Foreign currency translation (187 ) (74 ) (478 ) (93 ) $ 151,969 $ 14,280 $ 152,156 $ 18,258 (table only in thousands) As of September 30, 2019 As of December 31, 2018 Intangible assets – finite life Cost Accum. Amort. Cost Accum. Amort. Technology $ 14,457 $ 10,352 $ 14,457 $ 9,414 Customer lists 68,943 42,795 68,943 37,873 Noncompetition agreements 910 875 910 762 Tradename 5,294 996 1,390 579 Foreign currency adjustments (1,961 ) (627 ) (1,520 ) (407 ) $ 87,643 $ 54,391 $ 84,180 $ 48,221 Activity for the nine-months ended September 30, 2019 and 2018 is as follows: (table only in thousands) 2019 2018 Intangible assets – finite life, net at beginning of period $ 35,959 $ 49,956 Amortization expense (6,479 ) (7,355 ) Divestitures — (4,083 ) Transfers from indefinite life classification 3,904 — Foreign currency adjustments (132 ) 30 Intangible assets – finite life, net at end of period $ 33,252 $ 38,548 Amortization expense of finite life intangible assets was $2.2 million and $2.3 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $6.5 million and $7.4 million for each of the nine-month periods ended September 30, 2019 and 2018. Amortization over the next five years for finite life intangibles is expected to be $1.9 million for the remainder of 2019, $6.8 million in 2020, $5.7 million in 2021, $4.8 million in 2022, and $4.0 million in 2023. During the nine-month period ended September 30, 2019, the Company reassessed the useful lives of certain tradenames and determined that $3.9 million of their tradenames would have useful lives of 10 years now versus indefinite. The Company did not identify any triggering events during the three-month period ended September 30, 2019 that would require an interim impairment assessment of goodwill or intangible assets.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Accounts Payable and Accrued Expenses	7. Accounts Payable and Accrued Expenses (table only in thousands) September 30, 2019 December 31, 2018 Trade accounts payable, including due to subcontractors $ 51,249 $ 51,984 Compensation and related benefits 5,882 7,578 Short-term lease liabilities 3,112 — Accrued warranty 4,225 3,384 Contract liabilities 4,032 6,541 Other accrued expenses 9,764 10,742 Total accounts payable and accrued expenses $ 78,264 $ 80,229

Senior Debt

Senior Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Senior Debt	8. Senior debt Debt consisted of the following at September 30, 2019 and December 31, 2018: (table only in thousands) September 30, 2019 December 31, 2018 Outstanding borrowings under the Credit Facility (defined below). Term loan payable in quarterly principal installments of $0.6 million through June 2021, $0.9 million through June 2023, and $1.3 million thereafter with balance due upon maturity in June 2024. - Term loan $ 49,375 $ 76,147 - Revolving Credit Loan 20,000 — - Unamortized debt discount (1,880 ) (1,691 ) Total outstanding borrowings under the Credit Facility 67,495 74,456 Less: current portion (2,500 ) — Total debt, less current portion $ 64,995 $ 74,456 Scheduled principal payments under our United States Debt On June 11, 2019, the Company entered into a Second Amended and Restated Credit Agreement (the “Credit Facility”). The Credit Facility amended and restated the Company’s credit agreement, dated September 3, 2015. Pursuant to the Credit Facility, the lenders provided a term loan in the aggregate principal amount of $50.0 million and the lenders increased their senior secured revolving credit commitments to the aggregate principal amount of $140.0 million. This revolving credit commitment allows the Company the ability to borrow loans denominated in different currencies. Additionally, the Credit Facility extended the maturity date to June 11, 2024, reduced interest rates, and redefined certain financial covenants. As of September 30, 2019 and December 31, 2018, $11.5 million and $29.3 million of letters of credit were outstanding, respectively. Total unused credit availability under the Company’s senior secured term loan and senior secured revolver loan with sub-facilities for letters of credit, swing-line loans and senior secured multi-currency loans was $108.5 million and $50.7 million at September 30, 2019 and December 31, 2018, respectively. Revolving loans may be borrowed, repaid and reborrowed until June 11, 2024, at which time all outstanding balances of the Credit Facility must be repaid. The weighted average stated interest rate on outstanding borrowings was 4.04% and 5.27% at September 30, 2019 and December 31, 2018, respectively. In connection with the Credit Facility, the Company terminated its existing interest rate swap agreement. The fair value of the interest rate swap was zero and an asset of $0.5 million as of September 30, 2019 and December 31, 2018, respectively, and is classified within the “Deferred charges and other assets” on the Condensed Consolidated Balance Sheets. The Company designated the interest rate swap as an effective hedge until the date of termination; therefore, the changes to the fair value of the interest rate swap were recorded in other comprehensive income, until the date of termination. Upon termination of the swap agreement, zero and $0.2 million previously recognized in other comprehensive income was recognized into income during the three-month and nine-month periods ended September 30, 2019, respectively, and is classified within “Other income (expense), net” on the Condensed Consolidated Statements of Operations. Under the terms of the Credit Facility, the Company is required to maintain certain financial covenants, including the maintenance of a Consolidated Net Leverage Ratio. Through September 30, As of September 30, 2019 and December 31, 2018, the Company was in compliance with all related financial and other restrictive covenants under the Credit Facility. In connection with the Credit Facility, the Company paid $1.1 million in customary closing fees during the nine-month period ended September 30, 2019 that were deferred and classified as a debt discount. Additionally, during the nine-month period ended September 30, 2019, $0.4 million of the existing debt discount was expensed, and classified as interest expense, as a result of the debt modification. Foreign Debt The Company has a number of bank guarantee facilities and bilateral lines in various countries currently supported by cash, letters of credit or pledged assets and collateral under the Credit Facility. The Credit Facility allows letters of credit and bank guarantee issuances of up to $50.0 million from the bilateral lines secured by pledged assets and collateral under the Credit Facility. As of September 30, 2019, $11.0 million in bank guarantees were outstanding. In addition, a subsidiary of the Company located in the Netherlands has a Euro-denominated bank guarantee agreement secured by local assets under which $3.4 million in bank guarantees were outstanding as of September 30, 2019. As of September 30, 2019, the borrowers of these facilities and agreements were in compliance with all related financial and other restrictive covenants .

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	9. Earnings per Share The computational components of basic and diluted earnings (loss) per share for the three-month and nine-month periods ended September 30, 2019 and 2018 are below. For the three-month period ended September 30, 2019 2018 (table only in thousands) Numerator (for basic and diluted earnings (loss) per share) Net income (loss) $ 1,931 $ (12,915 ) Denominator Basic weighted-average shares outstanding 35,070 34,779 Common stock equivalents arising from stock options and restricted stock awards 555 — Diluted weighted-average shares outstanding 35,625 34,779 For the nine-month period ended September 30, 2019 2018 (table only in thousands) Numerator (for basic and diluted earnings (loss) per share) Net income (loss) $ 9,310 $ (8,053 ) Denominator Basic weighted-average shares outstanding 34,944 34,681 Common stock equivalents arising from stock options and restricted stock awards 579 — Diluted weighted-average shares outstanding 35,523 34,681 Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended September 30, 2019 and 2018, 0.4 million and 0.9 million, respectively, and during the nine-month periods ended September 30, 2019 and 2018, 0.5 million and 0.8 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect. Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	10. Share-Based Compensation The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) Topic 718, “Compensation – Stock Compensation,” which requires the Company to recognize compensation expense for share-based awards, measured at the fair value of the awards at the grant date. The Company recognized $1.0 million and $0.9 million of share-based compensation related expense during the three-month periods ended September 30, 2019 and 2018, respectively, and $2.8 million and $2.3 million during the nine-month periods ended September 30, 2019 and 2018, respectively. The Company granted zero options during the three-month and nine-month periods ended September 30, 2019 and 2018. The Company granted zero and approximately 33,000 restricted stock units during the three-month periods ended September 30, 2019 and 2018, respectively and approximately 464,000 and 963,000 restricted stock units during the nine-month periods ended September 30, 2019 and 2018. The weighted-average fair value of restricted stock units was estimated at $7.49 and $5.21 per unit granted during the nine-months ended September 30, 2019 and 2018, respectively. The fair value of the restricted stock units was determined by using the value of stock in the open market on the date of grant. The fair value of the stock-based awards granted is recorded as compensation expense on a straight-line basis over the vesting periods of the awards. There were 1,000 and approximately 16,000 options exercised during the nine-months ended September 30, 2019 and 2018, respectively. The Company received $7,000 and $82,000 in cash from employees exercising options during the nine-months ended September 30, 2019 and 2018. The intrinsic value of options exercised during the nine-months ended September 30, 2019 and 2018 was $1,000 and approximately $89,000, respectively.

Pension and Employee Benefit Pl

Pension and Employee Benefit Plans	9 Months Ended
	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Pension and Employee Benefit Plans	11. Pension and Employee Benefit Plans We sponsor a non-contributory defined benefit pension plan for certain union employees. The plan is funded in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974. We also sponsor a postretirement health care plan for office employees retired before January 1, 1990. The plan allowed retirees who attained the age of 65 to elect the type of coverage desired. We present service cost within cost of sales and selling and administrative expenses depending on where the relevant employees compensation costs are recorded, and we present other components of net periodic benefit cost (gain) within “Other income (expense), net” on the Condensed Consolidated Statements of Operations. Retirement and health care plan expense is based on valuations performed by plan actuaries as of the beginning of each fiscal year. The components of the expense consisted of the following: Three months ended September 30, Nine months ended September 30, (table only in thousands) 2019 2018 2019 2018 Pension plan: Interest cost $ 326 $ 298 $ 977 $ 893 Expected return on plan assets (313 ) (378 ) (940 ) (1,134 ) Amortization of net actuarial loss 65 59 198 178 Net periodic benefit cost (gain) $ 78 $ (21 ) $ 235 $ (63 ) Health care plan: Interest cost $ 1 $ 1 $ 2 $ 2 Amortization of loss 2 2 6 7 Net periodic benefit cost $ 3 $ 3 $ 8 $ 9 We made contributions to our defined benefit plans during the nine-months ended September 30, 2019 and 2018 totaling $0.4 million and $0.6 million, respectively. We anticipate $0.3 million and $24,000 of further contributions to fund the pension plan and the retiree health care plan, respectively, during the remainder of 2019. The unfunded liability of the plans of $8.7 million and $8.8 million as of September 30, 2019 and December 31, 2018, respectively, is included in “Other liabilities” on our Condensed Consolidated Balance Sheets.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	12. Leases Our leasing activity is primarily related to buildings used for manufacturing, warehousing, sales, and administrative activities. We determine if an arrangement is a lease at inception. Many of our lease agreements contain renewal options; however, we do not recognize ROU assets or lease liabilities for renewal periods unless it is determined that we are reasonably certain of renewing the lease at inception or when a triggering event occurs. Some of our lease agreements contain rent escalation clauses, free-rent periods, or other lease concessions. We recognize our minimum rental expense on a straight-line basis based on the fixed components of a lease arrangement. Variable lease costs represent amounts that are not fixed in nature and are not tied to an index or rate, and are recognized as incurred. Our variable lease costs are not material. In determining our ROU assets and lease liabilities, we apply a discount rate to the minimum lease payments within each lease agreement. ASU 2016-02 requires us to use the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. When we cannot readily determine the discount rate implicit in the lease agreement, we utilize our incremental borrowing rate. To estimate our specific incremental borrowing rates we consider, among other factors, interest rates on our existing credit facilities, risk-free rates, the types of assets being leased, and the term of the leases. The components of lease expense were as follows: (table only in thousands) For the three months ended September 30, 2019 For the nine months ended September 30, 2019 Operating lease cost (a) $ 889 $ 2,728 Finance lease cost: Amortization of right-of-use assets 78 232 Interest on lease liability 89 272 Total finance lease cost 167 504 Total lease cost $ 1,056 $ 3,232 (a) includes variable lease costs which are immaterial Supplemental cash flow information related to leases was as follows: (table only in thousands) For the nine months ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,604 Operating cash flows from finance leases $ 272 Financing cash flows from finance leases $ 368 Right of use assets obtained in exchange for lease obligations Operating leases $ 3,045 Supplemental balance sheet information related to leases was as follows: (table only in thousands) September 30, 2019 Operating leases Right-of-use assets from operating leases $ 13,810 Accounts payable and accrued expenses $ 2,606 Operating lease liabilities 11,328 Total operating lease liabilities $ 13,934 Finance leases Property, plant and equipment, net $ 3,333 Accounts payable and accrued expenses $ 506 Other liabilities 7,473 Total finance lease liabilities $ 7,979 Weighted-average remaining lease term Operating leases 9 years Finance leases 12 years Weighted-average discount rate Operating leases 5.3% Finance leases 4.5% As of September 30, 2019, maturities of lease liabilities were as follows: (table only in thousands) Operating Leases Finance Leases 2019 $ 730 $ 207 2020 3,041 855 2021 2,633 872 2022 1,984 889 2023 1,857 907 Thereafter 6,506 6,409 Total minimum lease payments $ 16,751 $ 10,139 Less imputed interest (2,817 ) (2,160 ) Lease liability $ 13,934 $ 7,979 As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2018 and under previous lease accounting standards, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year would have been as follows: (table only in thousands) December 31, 2018 2019 $ 2,745 2020 1,880 2021 1,454 2022 931 2023 851 Thereafter 2,278 Total $ 10,139

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	1 3 . Income Taxes We file income tax returns in various federal, state and local jurisdictions. Tax years from 2014 forward remain open for examination by Federal authorities. Tax years from 2014 forward remain open for all significant state and foreign authorities. We account for uncertain tax positions pursuant to ASC Topic 740, “Income Taxes.” As of September 30, 2019 and December 31, 2018, the liability for uncertain tax positions totaled approximately $0.5 and $0.9 million, respectively, which is included in “Other liabilities” on our Condensed Consolidated Balance Sheets. We recognize accrued interest related to uncertain tax positions and penalties, if any, in income tax expense within the Condensed Consolidated Statements of Operations. Certain of the Company’s undistributed earnings of our foreign subsidiaries are not permanently reinvested. Since foreign earnings have already been subject to U.S. income tax in 2017 as a result of the 2017 Tax Cuts and Jobs Act, we intend to repatriate foreign-held cash as needed. We record deferred income tax attributable to foreign withholding taxes that would become payable should we decide to repatriate cash held in our foreign operations. As of September 30, 2019 and December 31, 2018, we have recorded deferred income taxes of approximately zero and $0.6 million, respectively, on the undistributed earnings of our foreign subsidiaries. A significant portion of the previously undistributed earnings to which the deferred income taxes were attributable were repatriated in 2019. Income tax expense (benefit) was $0.7 million for the third quarter of 2019 and $(2.6) million for the first nine months of 2019, compared with income tax expense of $1.3 million for the third quarter of 2018 and $6.8 million for the first nine months of 2018. The effective income tax rate for the third quarter of 2019 was 27.7% compared with (11.5)% for third quarter of 2018. The effective income tax rate was (38.1)% for the first nine months of 2019, compared with (524.7)% for the first nine months of 2018. The effective income tax rate for the nine months ended September 30, 2019 was negative (i.e. income tax benefits), despite pre-tax income, due primarily to a tax benefit of $4.4 million upon finalization of a tax position related to the 2018 divestiture of Jiangyin Zhongli Industrial Technology Co. Ltd

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2019
Investments All Other Investments [Abstract]
Financial Instruments	1 4 . Financial Instruments Our financial instruments consist primarily of investments in cash and cash equivalents, receivables and certain other assets, foreign debt and accounts payable, which approximate fair value at September 30, 2019 and December 31, 2018, due to their short-term nature or variable, market-driven interest rates. The fair value of the debt issued under the Credit Facility was $69.4 million and $76.1 million at September 30, 2019 and December 31, 2018, respectively. The fair value of the note payable was $1.7 million at December 31, 2018. At September 30, 2019 and December 31, 2018, the Company had cash and cash equivalents of $29.0 million and $43.7 million, respectively, of which $21.5 million and $23.3 million, respectively, was held outside of the United States, principally in the Netherlands, United Kingdom, China, and Canada.

Commitments and Contingencies -

Commitments and Contingencies - Legal Matters	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies - Legal Matters	1 5 . Commitments and Contingencies – Legal Matters Asbestos cases Our subsidiary, Met-Pro Technologies LLC (“Met-Pro”), beginning in 2002, began to be named in asbestos-related lawsuits filed against a large number of industrial companies including, in particular, those in the pump and fluid handling industries. In management’s opinion, the complaints typically have been vague, general and speculative, alleging that Met-Pro, along with the numerous other defendants, sold unidentified asbestos-containing products and engaged in other related actions which caused injuries (including death) and loss to the plaintiffs. Counsel has advised that more recent cases typically allege more serious claims of mesothelioma. The Company’s insurers have hired attorneys who, together with the Company, are vigorously defending these cases. Many cases have been dismissed after the plaintiff fails to produce evidence of exposure to Met-Pro’s products. In those cases, where evidence has been produced, the Company’s experience has been that the exposure levels are low and the Company’s position has been that its products were not a cause of death, injury or loss. The Company has been dismissed from or settled a large number of these cases. Cumulative settlement payments from 2002 through September 30, 2019 for cases involving asbestos-related claims were $3.0 million, of which, together with all legal fees other than corporate counsel expenses, $2.8 million has been paid by the Company’s insurers. The average cost per settled claim, excluding legal fees, was approximately $35,000. Based upon the most recent information available to the Company regarding such claims, there were a total of 206 cases pending against the Company as of September 30, 2019 (with Illinois, New York, Pennsylvania and West Virginia having the largest number of cases), as compared with 208 cases that were pending as of December 31, 2018. During the nine-months ended September 30, 2019, 51 new cases were filed against the Company, and the Company was dismissed from 45 cases and settled eight cases. Most of the pending cases have not advanced beyond the early stages of discovery, although a number of cases are on schedules leading to or scheduled for trial. The Company believes that its insurance coverage is adequate for the cases currently pending against the Company and for the foreseeable future, assuming a continuation of the current volume, nature of cases and settlement amounts. However, the Company has no control over the number and nature of cases that are filed against it, nor as to the financial health of its insurers or their position as to coverage. The Company also presently believes that none of the pending cases will have a material adverse impact upon the Company’s results of operations, liquidity or financial condition. Summary The Company is also a party to routine contract and employment-related litigation matters, warranty claims and routine audits of state and local tax returns arising in the ordinary course of its business. The final outcome and impact of open matters, and related claims and investigations that may be brought in the future, are subject to many variables, and cannot be predicted. In accordance with ASC 450, “Contingencies”, and related guidance, we record accruals for estimated losses relating to claims and lawsuits when available information indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. The Company expenses legal costs as they are incurred. We are not aware of any pending claims or assessments, other than as described above, which may have a material adverse impact on our liquidity, financial position, results of operations, or cash flows.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segment Information	1 6 . Business Segment Information The Company’s operations are organized and reviewed by management along its product lines or end market that the segment serves and are presented in three reportable segments. The results of the segments are reviewed through the “Income (loss) from operations” line on the Consolidated Statements of Operations. During the first quarter of 2019, as a result of further evaluating the Company’s operating structure, management determined that a minor realignment of the Company’s segments The Company’s reportable segments are organized as groups of similar products and services, as described as follows: Energy Solutions segment: Our Energy Solutions segment serves the Energy market, where we are a key part of helping meet the global demand for Clean Energy with products and services that support our customers with efficient solutions and technologies to keep the world clean and safe. Our offerings improve air quality and solves fluid handling needs with market leading, highly engineered, and customized solutions for the power generation, oil & gas, and petrochemical industries. Industrial Solutions segment: Our Industrial Solutions segment serves the Industrial Pollution Control market where our aim is to address the growing need to protect the air we breathe and help our customers’ desires for sustainability upgrades beyond carbon footprint issues. Our offerings improve air quality with a compelling solution set of air pollution control technologies that enable our customers to reduce their carbon footprint, lower energy consumption, minimize waste and meet compliance targets for toxic emissions, fumes, volatile organic compounds, and industrial odors. Fluid Handling Solutions segment: Our Fluid Handling Solutions segment offers unique pump and filtration solutions that maintain safe and clean operations in some of the most harsh and toxic environments. In this market, we provide solutions for mission-critical applications to a wide variety of industries including, but not limited to, plating and metal finishing, automotive, food and beverage, chemical, petrochemical, pharmaceutical, wastewater treatment, desalination and the aquarium & aquaculture markets. The financial segment information is presented in the following tables: Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Net Sales (less intra-, inter-segment sales) Energy Solutions Segment $ 48,847 $ 56,552 $ 154,606 $ 147,661 Industrial Solutions Segment 26,983 21,868 65,920 59,833 Fluid Handling Solutions Segment 9,436 9,836 31,930 35,991 Net sales $ 85,266 $ 88,256 $ 252,456 $ 243,485 Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Income (loss) from Operations Energy Solutions Segment $ 7,633 $ 8,157 $ 23,275 $ 17,682 Industrial Solutions Segment 2,794 2,091 3,911 4,769 Fluid Handling Solutions Segment 818 1,388 4,657 6,744 Corporate and Other (1) (7,186 ) (22,666 ) (20,878 ) (24,691 ) Eliminations — 589 — (232 ) Income (loss) from operations $ 4,059 $ (10,441 ) $ 10,965 $ 4,272 ( 1 ) Includes gain (loss) on divestitures, net of selling costs (see Note 17 – Divestitures), corporate compensation, professional services, information technology, and other general and administrative corporate expenses. This figure excludes earnout expenses, which are recorded in the segment in which the expense occurs. Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Property and Equipment Additions Energy Solutions Segment $ 57 $ 6 $ 218 $ 38 Industrial Solutions Segment 59 533 222 697 Fluid Handling Solutions Segment 2,135 767 2,624 1,051 Corporate and Other 293 — 682 111 Property and equipment additions $ 2,544 $ 1,306 $ 3,746 $ 1,897 Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Depreciation and Amortization Energy Solutions Segment $ 1,544 $ 2,379 $ 4,684 $ 6,286 Industrial Solutions Segment 327 361 998 803 Fluid Handling Solutions Segment 668 1,168 2,140 2,675 Corporate and Other 94 29 331 333 Depreciation and amortization $ 2,633 $ 3,937 $ 8,153 $ 10,097 (dollars in thousands) September 30, 2019 December 31, 2018 Identifiable Assets Energy Solutions Segment $ 246,630 $ 245,842 Industrial Solutions Segment 58,250 55,582 Fluid Handling Solutions Segment 71,778 72,507 Corporate and Other ( 2 ) 12,982 18,651 Identifiable assets $ 389,640 $ 392,582 ( 2 ) Corporate and Other assets consist primarily of cash and income tax related assets. (dollars in thousands) September 30, 2019 December 31, 2018 Goodwill Energy Solutions Segment $ 96,956 $ 97,143 Industrial Solutions Segment 23,436 23,436 Fluid Handling Solutions Segment 31,577 31,577 Goodwill $ 151,969 $ 152,156 Intra-segment and Inter-segment Revenues The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables: Three months ended September 30, 2019 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 51,083 $ (2,134 ) $ (102 ) $ — $ — $ 48,847 Industrial Solutions Segment 29,269 (2,227 ) — (59 ) — 26,983 Fluid Handling Solutions Segment 9,823 (362 ) (25 ) — — 9,436 Net Sales $ 90,175 $ (4,723 ) $ (127 ) $ (59 ) $ — $ 85,266 Three months ended September 30, 2018 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 58,561 $ (1,453 ) $ (556 ) $ — $ — $ 56,552 Industrial Solutions Segment 22,409 (573 ) — 73 (41 ) 21,868 Fluid Handling Solutions Segment 10,226 (399 ) 16 (7 ) — 9,836 Net Sales $ 91,196 $ (2,425 ) $ (540 ) $ 66 $ (41 ) $ 88,256 Nine months ended September 30, 2019 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 158,888 $ (3,998 ) $ (272 ) $ — $ (12 ) $ 154,606 Industrial Solutions Segment 73,794 (6,204 ) — (1,617 ) (53 ) 65,920 Fluid Handling Solutions Segment 33,189 (1,096 ) (163 ) — — 31,930 Net Sales $ 265,871 $ (11,298 ) $ (435 ) $ (1,617 ) $ (65 ) $ 252,456 Nine months ended September 30, 2018 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 155,011 $ (5,851 ) $ (1,494 ) $ — $ (5 ) $ 147,661 Industrial Solutions Segment 62,652 (2,178 ) — (600 ) (41 ) $ 59,833 Fluid Handling Solutions Segment 37,557 (1,208 ) (351 ) (7 ) — $ 35,991 Net Sales $ 255,220 $ (9,237 ) $ (1,845 ) $ (607 ) $ (46 ) $ 243,485

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Divestitures	1 7 . Divestitures Strobic Air Corporation On March 30, 2018, the Company completed the sale of Strobic Air Corporation (“Strobic”) as part of its strategic decision to exit brands that do not align with the CECO portfolio to increase focus on better serving the energy and industrial solutions and fluid handling markets. The sales price was $28.5 million, subject to post-closing purchase price adjustments. The disposition resulted in a gain of $6.9 million recorded in the first quarter of 2018, comprised of $27.9 million of net proceeds received as consideration after estimated post-closing purchase price adjustments less net assets disposed of $18.8 million and transaction costs of $2.2 million. The net assets disposed were primarily comprised of $13.0 million of goodwill, $2.3 million of definite-lived intangible assets and $1.2 million of indefinite-lived intangible assets allocated to the Strobic business. In the first quarter of 2018, Strobic reported $4.2 million in net sales and $1.1 million in income from operations. Strobic results through the date of disposition are included within income before income taxes in the Condensed Consolidated Statements of Operations and are reported within the Fluid Handling Solutions segment. The sale of Strobic did not constitute a significant strategic shift that will have a material impact on the Company’s ongoing operations and financial results. Keystone Filter On February 28, 2018, the Company completed the sale of the Keystone Filter brand (“Keystone”). The sales price was $7.5 million, subject to post-closing purchase price adjustments. The disposition resulted in a gain of $4.3 million recorded in the first quarter of 2018, comprised of $7.2 million of net proceeds received as consideration after estimated post-closing purchase price adjustments less net assets disposed of $2.7 million and transaction costs of $0.2 million. Zhongli On November 27, 2018, the Company completed the sale of Zhongli, a business in our Energy Solutions segment operating in China, for a price of $3.6 million. In the third quarter of 2018, we classified the assets and liabilities of Zhongli as held-for-sale. In connection with classifying this business as held-for-sale, GAAP required us to assess impairment by comparing the estimated selling price, less cost to sell to our carrying value in Zhongli. Based on this analysis, we recorded a $15.1 million estimated loss. The disposal of this business does not constitute a significant strategic shift that will have a material impact on the Company’s ongoing operations and financial results. During the three-month and nine-month periods ended September 30, 2018, Zhongli reported net sales of $1.6 million and $4.5 million, respectively. Zhongli’s results are reported within the Energy Solutions segment through the date of disposition.

New Financial Accounting Pron_2

New Financial Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Changes And Error Corrections [Abstract]
Accounting Standards Adopted in Fiscal 2019	Accounting Standards adopted in Fiscal 2019 In February 2016, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) and related disclosure requirements and establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Under the guidance, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. We adopted ASU 2016-02 effective January 1, 2019, using the modified retrospective method which was applied to leases that existed or were entered into on or after January 1, 2019. The Company elected to utilize the package of practical expedients that allows us to 1) not reassess whether any expired or existing contracts are or contain leases, 2) retain the existing classification of lease contracts as of the date of adoption, and 3) not reassess initial direct costs for any existing leases. We also elected to not separate lease and non-lease components, for all leases. The adoption of this standard had a material impact on our consolidated balance sheet due to the recognition of ROU assets and liabilities for our operating leases totaling $13.3 million, as well as an adjustment to beginning equity of $4.6 million, net of tax, related to a prior sales lease back transaction. The adoption of the standard did not have a material impact on our statement of operations or liquidity. See Note 12 – Leases for disclosures related to the amended guidance. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” This guidance expands an entity’s ability to apply hedge accounting for nonfinancial and financial risk components and allows for a simplified approach for fair value hedging of interest rate risk. Additionally, this ASU eliminates the need to separately measure and report hedge ineffectiveness and generally requires the entire change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item.
Accounting Standards Yet to be Adopted	Accounting Standards Yet to be Adopted In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” that makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. The new guidance eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new ones that the FASB considers pertinent. ASU 2018-14 is effective for the Company January 1, 2021. The Company is evaluating the impact of the adoption of ASU 2018-14 on its consolidated financial statements.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Summary of Accounts Receivable	(table only in thousands) September 30, 2019 December 31, 2018 Contract receivables $ 49,925 $ 48,826 Trade receivables 10,877 7,296 Allowance for doubtful accounts (2,711 ) (2,897 ) Total accounts receivable $ 58,091 $ 53,225

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	9 Months Ended
	Sep. 30, 2019
Text Block [Abstract]
Costs and Estimated Earnings on Uncompleted Contracts	(table only in thousands) September 30, 2019 December 31, 2018 Costs incurred on uncompleted contracts $ 220,631 $ 174,168 Estimated earnings 83,186 67,427 Total costs and estimated earnings on uncompleted contracts, gross 303,817 241,595 Less billings to date (292,421 ) (232,045 ) Total costs and estimated earnings on uncompleted contracts, net $ 11,396 $ 9,550 Included in the accompanying condensed consolidated balance sheets under the following captions: Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,409 $ 29,694 Billings in excess of costs and estimated earnings on uncompleted contracts (23,013 ) (20,144 ) Total costs and estimated earnings on uncompleted contracts, net $ 11,396 $ 9,550

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Summary of Inventories	(table only in thousands) September 30, 2019 December 31, 2018 Raw materials $ 15,794 $ 15,819 Work in process 5,983 6,098 Finished goods 574 807 Obsolescence allowance (2,692 ) (1,907 ) Total inventories $ 19,659 $ 20,817

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill / Tradename	(table only in thousands) Nine months ended September 30, 2019 Year ended December 31, 2018 Goodwill / Tradename Goodwill Tradename Goodwill Tradename Beginning balance $ 152,156 $ 18,258 $ 166,951 $ 19,691 Transfers to finite life classification — (3,904 ) — — Divestitures — — (14,317 ) (1,340 ) Foreign currency translation (187 ) (74 ) (478 ) (93 ) $ 151,969 $ 14,280 $ 152,156 $ 18,258
Intangible Assets - Finite Life	(table only in thousands) As of September 30, 2019 As of December 31, 2018 Intangible assets – finite life Cost Accum. Amort. Cost Accum. Amort. Technology $ 14,457 $ 10,352 $ 14,457 $ 9,414 Customer lists 68,943 42,795 68,943 37,873 Noncompetition agreements 910 875 910 762 Tradename 5,294 996 1,390 579 Foreign currency adjustments (1,961 ) (627 ) (1,520 ) (407 ) $ 87,643 $ 54,391 $ 84,180 $ 48,221
Summary of Finite Lived Intangible Assets Activities	Activity for the nine-months ended September 30, 2019 and 2018 is as follows: (table only in thousands) 2019 2018 Intangible assets – finite life, net at beginning of period $ 35,959 $ 49,956 Amortization expense (6,479 ) (7,355 ) Divestitures — (4,083 ) Transfers from indefinite life classification 3,904 — Foreign currency adjustments (132 ) 30 Intangible assets – finite life, net at end of period $ 33,252 $ 38,548

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Summary of Accounts Payable and Accrued Expenses	(table only in thousands) September 30, 2019 December 31, 2018 Trade accounts payable, including due to subcontractors $ 51,249 $ 51,984 Compensation and related benefits 5,882 7,578 Short-term lease liabilities 3,112 — Accrued warranty 4,225 3,384 Contract liabilities 4,032 6,541 Other accrued expenses 9,764 10,742 Total accounts payable and accrued expenses $ 78,264 $ 80,229

Senior Debt (Tables)

Senior Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Summary of Debt	Debt consisted of the following at September 30, 2019 and December 31, 2018: (table only in thousands) September 30, 2019 December 31, 2018 Outstanding borrowings under the Credit Facility (defined below). Term loan payable in quarterly principal installments of $0.6 million through June 2021, $0.9 million through June 2023, and $1.3 million thereafter with balance due upon maturity in June 2024. - Term loan $ 49,375 $ 76,147 - Revolving Credit Loan 20,000 — - Unamortized debt discount (1,880 ) (1,691 ) Total outstanding borrowings under the Credit Facility 67,495 74,456 Less: current portion (2,500 ) — Total debt, less current portion $ 64,995 $ 74,456

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Number of Shares Outstanding for Calculation of Earnings (Loss) Per Share	For the three-month period ended September 30, 2019 2018 (table only in thousands) Numerator (for basic and diluted earnings (loss) per share) Net income (loss) $ 1,931 $ (12,915 ) Denominator Basic weighted-average shares outstanding 35,070 34,779 Common stock equivalents arising from stock options and restricted stock awards 555 — Diluted weighted-average shares outstanding 35,625 34,779 For the nine-month period ended September 30, 2019 2018 (table only in thousands) Numerator (for basic and diluted earnings (loss) per share) Net income (loss) $ 9,310 $ (8,053 ) Denominator Basic weighted-average shares outstanding 34,944 34,681 Common stock equivalents arising from stock options and restricted stock awards 579 — Diluted weighted-average shares outstanding 35,523 34,681

Pension and Employee Benefit _2

Pension and Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Components of Pension and Employee Benefit Expenses	The components of the expense consisted of the following: Three months ended September 30, Nine months ended September 30, (table only in thousands) 2019 2018 2019 2018 Pension plan: Interest cost $ 326 $ 298 $ 977 $ 893 Expected return on plan assets (313 ) (378 ) (940 ) (1,134 ) Amortization of net actuarial loss 65 59 198 178 Net periodic benefit cost (gain) $ 78 $ (21 ) $ 235 $ (63 ) Health care plan: Interest cost $ 1 $ 1 $ 2 $ 2 Amortization of loss 2 2 6 7 Net periodic benefit cost $ 3 $ 3 $ 8 $ 9

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: (table only in thousands) For the three months ended September 30, 2019 For the nine months ended September 30, 2019 Operating lease cost (a) $ 889 $ 2,728 Finance lease cost: Amortization of right-of-use assets 78 232 Interest on lease liability 89 272 Total finance lease cost 167 504 Total lease cost $ 1,056 $ 3,232 (a) includes variable lease costs which are immaterial
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: (table only in thousands) For the nine months ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,604 Operating cash flows from finance leases $ 272 Financing cash flows from finance leases $ 368 Right of use assets obtained in exchange for lease obligations Operating leases $ 3,045
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: (table only in thousands) September 30, 2019 Operating leases Right-of-use assets from operating leases $ 13,810 Accounts payable and accrued expenses $ 2,606 Operating lease liabilities 11,328 Total operating lease liabilities $ 13,934 Finance leases Property, plant and equipment, net $ 3,333 Accounts payable and accrued expenses $ 506 Other liabilities 7,473 Total finance lease liabilities $ 7,979
Schedule of Lease Terms and Discount Rate	Weighted-average remaining lease term Operating leases 9 years Finance leases 12 years Weighted-average discount rate Operating leases 5.3% Finance leases 4.5%
Schedule of Maturities of Lease Liabilities	As of September 30, 2019, maturities of lease liabilities were as follows: (table only in thousands) Operating Leases Finance Leases 2019 $ 730 $ 207 2020 3,041 855 2021 2,633 872 2022 1,984 889 2023 1,857 907 Thereafter 6,506 6,409 Total minimum lease payments $ 16,751 $ 10,139 Less imputed interest (2,817 ) (2,160 ) Lease liability $ 13,934 $ 7,979
Schedule of Future Minimum Lease Payments for Operating Leases	As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2018 and under previous lease accounting standards, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year would have been as follows: (table only in thousands) December 31, 2018 2019 $ 2,745 2020 1,880 2021 1,454 2022 931 2023 851 Thereafter 2,278 Total $ 10,139

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Net Sales and Income from Operation by Business Segment	The financial segment information is presented in the following tables: Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Net Sales (less intra-, inter-segment sales) Energy Solutions Segment $ 48,847 $ 56,552 $ 154,606 $ 147,661 Industrial Solutions Segment 26,983 21,868 65,920 59,833 Fluid Handling Solutions Segment 9,436 9,836 31,930 35,991 Net sales $ 85,266 $ 88,256 $ 252,456 $ 243,485 Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Income (loss) from Operations Energy Solutions Segment $ 7,633 $ 8,157 $ 23,275 $ 17,682 Industrial Solutions Segment 2,794 2,091 3,911 4,769 Fluid Handling Solutions Segment 818 1,388 4,657 6,744 Corporate and Other (1) (7,186 ) (22,666 ) (20,878 ) (24,691 ) Eliminations — 589 — (232 ) Income (loss) from operations $ 4,059 $ (10,441 ) $ 10,965 $ 4,272 ( 1 ) Includes gain (loss) on divestitures, net of selling costs (see Note 17 – Divestitures), corporate compensation, professional services, information technology, and other general and administrative corporate expenses. This figure excludes earnout expenses, which are recorded in the segment in which the expense occurs.
Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets	Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Property and Equipment Additions Energy Solutions Segment $ 57 $ 6 $ 218 $ 38 Industrial Solutions Segment 59 533 222 697 Fluid Handling Solutions Segment 2,135 767 2,624 1,051 Corporate and Other 293 — 682 111 Property and equipment additions $ 2,544 $ 1,306 $ 3,746 $ 1,897 Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2019 2018 2019 2018 Depreciation and Amortization Energy Solutions Segment $ 1,544 $ 2,379 $ 4,684 $ 6,286 Industrial Solutions Segment 327 361 998 803 Fluid Handling Solutions Segment 668 1,168 2,140 2,675 Corporate and Other 94 29 331 333 Depreciation and amortization $ 2,633 $ 3,937 $ 8,153 $ 10,097 (dollars in thousands) September 30, 2019 December 31, 2018 Identifiable Assets Energy Solutions Segment $ 246,630 $ 245,842 Industrial Solutions Segment 58,250 55,582 Fluid Handling Solutions Segment 71,778 72,507 Corporate and Other ( 2 ) 12,982 18,651 Identifiable assets $ 389,640 $ 392,582 ( 2 ) Corporate and Other assets consist primarily of cash and income tax related assets.
Goodwill	(dollars in thousands) September 30, 2019 December 31, 2018 Goodwill Energy Solutions Segment $ 96,956 $ 97,143 Industrial Solutions Segment 23,436 23,436 Fluid Handling Solutions Segment 31,577 31,577 Goodwill $ 151,969 $ 152,156
Intra-Segment and Inter-Segment Revenues	The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables: Three months ended September 30, 2019 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 51,083 $ (2,134 ) $ (102 ) $ — $ — $ 48,847 Industrial Solutions Segment 29,269 (2,227 ) — (59 ) — 26,983 Fluid Handling Solutions Segment 9,823 (362 ) (25 ) — — 9,436 Net Sales $ 90,175 $ (4,723 ) $ (127 ) $ (59 ) $ — $ 85,266 Three months ended September 30, 2018 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 58,561 $ (1,453 ) $ (556 ) $ — $ — $ 56,552 Industrial Solutions Segment 22,409 (573 ) — 73 (41 ) 21,868 Fluid Handling Solutions Segment 10,226 (399 ) 16 (7 ) — 9,836 Net Sales $ 91,196 $ (2,425 ) $ (540 ) $ 66 $ (41 ) $ 88,256 Nine months ended September 30, 2019 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 158,888 $ (3,998 ) $ (272 ) $ — $ (12 ) $ 154,606 Industrial Solutions Segment 73,794 (6,204 ) — (1,617 ) (53 ) 65,920 Fluid Handling Solutions Segment 33,189 (1,096 ) (163 ) — — 31,930 Net Sales $ 265,871 $ (11,298 ) $ (435 ) $ (1,617 ) $ (65 ) $ 252,456 Nine months ended September 30, 2018 Less Inter-Segment Sales (dollars in thousands) Total Sales Intra- Segment Sales Industrial Energy Fluid Net Outside Customers Net Sales Energy Solutions Segment $ 155,011 $ (5,851 ) $ (1,494 ) $ — $ (5 ) $ 147,661 Industrial Solutions Segment 62,652 (2,178 ) — (600 ) (41 ) $ 59,833 Fluid Handling Solutions Segment 37,557 (1,208 ) (351 ) (7 ) — $ 35,991 Net Sales $ 255,220 $ (9,237 ) $ (1,845 ) $ (607 ) $ (46 ) $ 243,485

New Financial Accounting Pron_3

New Financial Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Operating lease, right-of-use asset	$ 13,810	$ 13,300
Operating lease liability	$ 13,934	13,300
Prior sales lease back transaction net of tax		$ 4,600

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract receivables	$ 49,925	$ 48,826
Allowance for doubtful accounts	(2,711)	(2,897)
Total accounts receivable	58,091	53,225
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 10,877	$ 7,296

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Receivables [Abstract]
Amount billed but not received under retainage provisions in contracts	$ 1,400		$ 1,400		$ 900
Retainage receivables on contracts period			1 year
Bad debt expense	$ 300	$ 600	$ 710	$ 1,225

Costs and Estimated Earnings _3

Costs and Estimated Earnings on Uncompleted Contracts - Costs and Estimated Earnings on Uncompleted Contracts (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Costs In Excess Of Billings On Uncompleted Contracts Or Programs [Abstract]
Costs incurred on uncompleted contracts	$ 220,631	$ 174,168
Estimated earnings	83,186	67,427
Total costs and estimated earnings on uncompleted contracts, gross	303,817	241,595
Less billings to date	(292,421)	(232,045)
Total costs and estimated earnings on uncompleted contracts, net	11,396	9,550
Included in the accompanying condensed consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	34,409	29,694
Billings in excess of costs and estimated earnings on uncompleted contracts	(23,013)	(20,144)
Total costs and estimated earnings on uncompleted contracts, net	$ 11,396	$ 9,550

Costs and Estimated Earnings _4

Costs and Estimated Earnings on Uncompleted Contracts - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Costs In Excess Of Billings On Uncompleted Contracts Or Programs [Abstract]
Provision for estimated losses on uncompleted contracts	$ 0	$ 0

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Net [Abstract]
Raw materials	$ 15,794	$ 15,819
Work in process	5,983	6,098
Finished goods	574	807
Obsolescence allowance	(2,692)	(1,907)
Total inventories	$ 19,659	$ 20,817

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Inventory Disclosure [Abstract]
Amounts credited to the allowance for obsolete inventory	$ 0.1	$ 0.1	$ 0.5	$ 0.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill / Tradename (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, beginning balance	$ 152,156	$ 166,951
Goodwill, divestitures		(14,317)
Goodwill, foreign currency translation	(187)	(478)
Goodwill, ending balance	151,969	152,156
Tradename, beginning balance	18,258	19,691
Tradename, transfers to finite life classification	3,904
Tradename, divestitures		(1,340)
Tradename, foreign currency translation	(74)	(93)
Tradename, ending balance	$ 14,280	$ 18,258

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets - Finite Life (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Cost	$ 87,643	$ 84,180
Accumulated Amortization	54,391	48,221
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	14,457	14,457
Accumulated Amortization	10,352	9,414
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	68,943	68,943
Accumulated Amortization	42,795	37,873
Non-compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	910	910
Accumulated Amortization	875	762
Tradename [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	5,294	1,390
Accumulated Amortization	996	579
Foreign Currency Adjustments [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	(1,961)	(1,520)
Accumulated Amortization	$ (627)	$ (407)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Finite Lived Intangible Assets Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets – finite life, net at beginning of period			$ 35,959	$ 49,956
Amortization expense	$ (2,200)	$ (2,300)	(6,479)	(7,355)
Divestitures				(4,083)
Transfers from indefinite life classification			3,904
Foreign currency adjustments			(132)	30
Intangible assets – finite life, net at end of period	$ 33,252	$ 38,548	$ 33,252	$ 38,548

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Amortization expense of finite life intangible assets	$ 2,200	$ 2,300	$ 6,479	$ 7,355
Amortization expense of finite life intangibles for 2019	1,900		1,900
Amortization expense of finite life intangibles for 2020	6,800		6,800
Amortization expense of finite life intangibles for 2021	5,700		5,700
Amortization expense of finite life intangibles for 2022	4,800		4,800
Amortization expense of finite life intangibles for 2023	4,000		4,000
Finite lived intangible assets	33,252	$ 38,548	33,252	$ 38,548	$ 35,959	$ 49,956
Certain Tradenames [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Finite lived intangible assets	$ 3,900		$ 3,900
Finite lived intangible assets, useful life			10 years

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Trade accounts payable, including due to subcontractors	$ 51,249	$ 51,984
Compensation and related benefits	5,882	7,578
Short-term lease liabilities	3,112
Accrued warranty	4,225	3,384
Contract liabilities	4,032	6,541
Other accrued expenses	9,764	10,742
Total accounts payable and accrued expenses	$ 78,264	$ 80,229

Senior Debt - Summary of Debt (

Senior Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	$ 67,495	$ 74,456
Less: current portion	(2,500)
Debt, less current portion	64,995	74,456
Term Loan [Member]
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	49,375	76,147
Revolving Credit Loan [Member]
Debt Instrument [Line Items]
Revolving Credit Loan	20,000
Term Debt [Member]
Debt Instrument [Line Items]
Unamortized debt discount	$ (1,880)	$ (1,691)

Senior Debt - Summary of Debt_2

Senior Debt - Summary of Debt (Parenthetical) (Detail) - Term Loan [Member] $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
Frequency of periodic payment	quarterly
Term loans, year of maturity	Jun. 30, 2024
Debt Instrument, Redemption, Through June 2021 [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	$ 0.6
Debt Instrument, Redemption, Through June 2023 [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	0.9
Debt Instrument, Redemption, Thereafter [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	$ 1.3

Senior Debt - Additional Inform

Senior Debt - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2024	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2018
Line Of Credit Facility [Line Items]
Credit facility principal payments 2019	$ 600,000	$ 600,000
Credit facility principal payments 2020	2,500,000	2,500,000
Credit facility principal payments 2021	3,100,000	3,100,000
Credit facility principal payments 2022	3,800,000	3,800,000
Credit facility principal payments 2023	4,400,000	4,400,000
Credit facility principal payments 2024	$ 35,000,000	$ 35,000,000
Weighted average stated interest rate on outstanding borrowings	4.04%	4.04%					5.27%
Fair value of interest rate swap	$ 0	$ 0					$ 0
Interest rate swap, fair value, asset	500,000	500,000					500,000
Debt discount expensed		928,000	$ 862,000
Scenario Forecast [Member]
Line Of Credit Facility [Line Items]
Maximum consolidated leverage ratio				325.00%	350.00%	375.00%
Other Income (Expense), Net [Member]
Line Of Credit Facility [Line Items]
Change in fair value of interest rate swap recognized as income	0	$ 200,000
Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt instrument extended maturity date		Jun. 11, 2024
Customary closing fees		$ 1,100,000
Debt discount expensed		400,000
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Unused credit availability under credit facility	108,500,000	108,500,000					50,700,000
Term Loan [Member] | Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Increased credit facility commitment for either revolving credit facility or term loan facility	50,000,000	50,000,000
Revolving Credit Loan [Member]
Line Of Credit Facility [Line Items]
Bank guarantee agreement outstanding amount	20,000,000	20,000,000
Revolving Credit Loan [Member] | Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	140,000,000	140,000,000
Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	11,500,000	11,500,000					$ 29,300,000
Bank Guarantees [Member]
Line Of Credit Facility [Line Items]
Bank guarantee issuance under bilateral lines and collateral	50,000,000	50,000,000
Bank guarantee agreement outstanding amount	11,000,000	11,000,000
Netherlands Facility [Member] | Euro-Denominated Bank Guarantee [Member]
Line Of Credit Facility [Line Items]
Bank guarantee agreement outstanding amount	$ 3,400,000	$ 3,400,000

Earnings per Share - Number of

Earnings per Share - Number of Shares Outstanding for Calculation of Earnings Per Share (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator (for basic and diluted earnings (loss) per share)
Net income (loss)	$ 1,931	$ (12,915)	$ 9,310	$ (8,053)
Denominator
Basic weighted-average shares outstanding	35,070,449	34,779,125	34,944,056	34,681,262
Common stock equivalents arising from stock options and restricted stock awards	555,000		579,000
Diluted weighted-average shares outstanding	35,624,590	34,779,125	35,522,568	34,681,262

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings And Dividends Per Share [Abstract]
Anti-dilutive options and restricted stock units outstanding	0.4	0.9	0.5	0.8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation awards	$ 1,000,000	$ 900,000	$ 2,800,000	$ 2,300,000
Number of stock option granted	0	0	0	0
Cash received from employees and non-employee directors stock option exercised			$ 7,000	$ 82,000
Intrinsic value of option exercised			$ 1,000	$ 89,000
Number of options exercised			1,000	16,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock awards granted	0	33,000	464,000	963,000
Weighted-average fair value of restricted stock unit granted			$ 7.49	$ 5.21

Pension and Employee Benefit _3

Pension and Employee Benefit Plans - Components of Pension and Employee Benefit Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 326	$ 298	$ 977	$ 893
Expected return on plan assets	(313)	(378)	(940)	(1,134)
Amortization of net actuarial loss	65	59	198	178
Net periodic benefit cost (gain)	78	(21)	235	(63)
Health Care Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1	2	2
Amortization of loss	2	2	6	7
Net periodic benefit cost (gain)	$ 3	$ 3	$ 8	$ 9

Pension and Employee Benefit _4

Pension and Employee Benefit Plans - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan contributions	$ 400,000	$ 600,000
Unfunded liability plans	8,700,000		$ 8,800,000
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Anticipated contribution to fund the pension plan during the reminder of the fiscal year	300,000
Health Care Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Anticipated contribution to fund the pension plan during the reminder of the fiscal year	$ 24,000

Leases - Schedule of components

Leases - Schedule of components of lease expense (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	[1]	$ 889	$ 2,728
Finance lease cost:
Amortization of right-of-use assets		78	232
Interest on lease liability		89	272
Total finance lease cost		167	504
Total lease cost		$ 1,056	$ 3,232
[1]	includes variable lease costs which are immaterial

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$ 2,604
Operating cash flows from finance leases	$ 89	272
Financing cash flows from finance leases		368
Operating leases		$ 3,045

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Operating leases
Right-of-use assets from operating leases	$ 13,810	$ 13,300
Operating lease liabilities, current	$ 2,606
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesMember
Operating lease liabilities (Note 12)	$ 11,328
Total operating lease liabilities	13,934	$ 13,300
Finance leases
Finance leases right of use asset	$ 3,333
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentMember
Finance lease liabilities, current	$ 506
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesMember
Finance lease liabilities, non-current	$ 7,473
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesMember
Total finance lease liabilities	$ 7,979

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rate (Detail)	Sep. 30, 2019
Weighted-average remaining lease term
Operating leases	9 years
Finance leases	12 years
Weighted-average discount rate
Operating leases	5.30%
Finance leases	4.50%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Operating leases
2019	$ 730
2020	3,041
2021	2,633
2022	1,984
2023	1,857
Thereafter	6,506
Total minimum lease payments	16,751
Less imputed interest	(2,817)
Lease liability	13,934	$ 13,300
Finance leases
2019	207
2020	855
2021	872
2022	889
2023	907
Thereafter	6,409
Total minimum lease payments	10,139
Less imputed interest	(2,160)
Lease liability	$ 7,979

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 2,745
2020	1,880
2021	1,454
2022	931
2023	851
Thereafter	2,278
Total	$ 10,139

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Taxes [Line Items]
Liability for uncertain tax positions	$ 500		$ 500		$ 900
Deferred income taxes on undistributed earnings			(595)	$ (1,079)
Income tax expense (benefit)	$ 739	$ 1,337	$ (2,569)	$ 6,764
Effective income tax rate	27.70%	(11.50%)	(38.10%)	(524.70%)
Zhongli [Member]
Income Taxes [Line Items]
Income tax expense (benefit)			$ (4,400)
Foreign Subsidiaries [Member]
Income Taxes [Line Items]
Deferred income taxes on undistributed earnings			$ 0		$ 600
Federal Authorities [Member]
Income Taxes [Line Items]
Open tax years			2014 2015 2016 2017 2018 2019
State and Foreign Authorities [Member]
Income Taxes [Line Items]
Open tax years			2014 2015 2016 2017 2018 2019

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value Of Financial Instruments [Line Items]
Fair value of note payable		$ 1,700
Cash and cash equivalents	$ 28,963	43,676
Cash held outside United States, principally in Netherlands, United Kingdom, China, and Canada	21,500	23,300
Credit Facility [Member]
Fair Value Of Financial Instruments [Line Items]
Fair value of debt issued	$ 69,400	$ 76,100

Commitments and Contingencies_2

Commitments and Contingencies - Legal Matters - Additional Information (Detail)	9 Months Ended	213 Months Ended
	Sep. 30, 2019USD ($)Case	Sep. 30, 2019USD ($)Case	Dec. 31, 2018Case
Commitments And Contingencies Disclosure [Abstract]
Cumulative settlement payments for cases involving asbestos-related claims | $		$ 3,000,000
Cumulative settlement payments made for cases involving asbestos-related claims with all legal fees other than corporate counsel expenses | $		2,800,000
Average cost per settled claim excluding legal fees | $	$ 35,000	$ 35,000
Number of claims pending	206	206	208
Number of new cases filed	51
Number of cases dismissed	45
Number of cases settled	8
Assessment regarding Loss contingency impact Description	We are not aware of any pending claims or assessments, other than as described above, which may have a material adverse impact on our liquidity, financial position, results of operations, or cash flows.

Business Segment Information -

Business Segment Information - Net Sales and Income from Operation by Business Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 85,266	$ 88,256	$ 252,456	$ 243,485
Income (loss) from operations	4,059	(10,441)	10,965	4,272
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations	(7,186)	(22,666)	(20,878)	(24,691)
Inter-segment Elimination [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations		589		(232)
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	48,847	56,552	154,606	147,661
Income (loss) from operations	7,633	8,157	23,275	17,682
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	26,983	21,868	65,920	59,833
Income (loss) from operations	2,794	2,091	3,911	4,769
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,436	9,836	31,930	35,991
Income (loss) from operations	$ 818	$ 1,388	$ 4,657	$ 6,744

Business Segment Information _2

Business Segment Information - Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property and equipment additions	$ 2,544	$ 1,306	$ 3,746	$ 1,897
Depreciation and amortization	2,633	3,937	8,153	10,097
Identifiable assets	389,640		389,640		$ 392,582
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	57	6	218	38
Depreciation and amortization	1,544	2,379	4,684	6,286
Identifiable assets	246,630		246,630		245,842
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	59	533	222	697
Depreciation and amortization	327	361	998	803
Identifiable assets	58,250		58,250		55,582
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	2,135	767	2,624	1,051
Depreciation and amortization	668	1,168	2,140	2,675
Identifiable assets	71,778		71,778		72,507
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	293		682	111
Depreciation and amortization	94	$ 29	331	$ 333
Identifiable assets	$ 12,982		$ 12,982		$ 18,651

Business Segment Information _3

Business Segment Information - Goodwill (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Goodwill	$ 151,969	$ 152,156	$ 166,951
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	96,956	97,143
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	23,436	23,436
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 31,577	$ 31,577

Business Segment Information _4

Business Segment Information - Intra-Segment and Inter-Segment Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 85,266	$ 88,256	$ 252,456	$ 243,485
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	48,847	56,552	154,606	147,661
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	26,983	21,868	65,920	59,833
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,436	9,836	31,930	35,991
Intra - Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(4,723)	(2,425)	(11,298)	(9,237)
Intra - Segment Sales [Member] | Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(2,134)	(1,453)	(3,998)	(5,851)
Intra - Segment Sales [Member] | Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(2,227)	(573)	(6,204)	(2,178)
Intra - Segment Sales [Member] | Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(362)	(399)	(1,096)	(1,208)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	90,175	91,196	265,871	255,220
Operating Segments [Member] | Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	51,083	58,561	158,888	155,011
Operating Segments [Member] | Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	29,269	22,409	73,794	62,652
Operating Segments [Member] | Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,823	10,226	33,189	37,557
Inter-segment Elimination [Member] | Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(127)	(540)	(435)	(1,845)
Inter-segment Elimination [Member] | Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(59)	66	(1,617)	(607)
Inter-segment Elimination [Member] | Fluid Handling Filtration Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		(41)	(65)	(46)
Inter-segment Elimination [Member] | Energy Solutions Segment [Member] | Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(102)	(556)	(272)	(1,494)
Inter-segment Elimination [Member] | Energy Solutions Segment [Member] | Fluid Handling Filtration Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(12)	(5)
Inter-segment Elimination [Member] | Industrial Solutions Segment [Member] | Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(59)	73	(1,617)	(600)
Inter-segment Elimination [Member] | Industrial Solutions Segment [Member] | Fluid Handling Filtration Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		(41)	(53)	(41)
Inter-segment Elimination [Member] | Fluid Handling Solutions Segment [Member] | Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ (25)	16	$ (163)	(351)
Inter-segment Elimination [Member] | Fluid Handling Solutions Segment [Member] | Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		$ (7)		$ (7)

Divestitures - Additional Infor

Divestitures - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 27, 2018	Mar. 30, 2018	Feb. 28, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on disposal					$ (15,074)		$ (70)	$ (3,970)
Gain (loss) on disposal					(15,074)		(70)	(3,970)
Net sales				$ 85,266	$ 88,256		252,456	$ 243,485
Strobic Air Corporation [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Sale price, subject to post-closing purchase price adjustments		$ 28,500
Gain (loss) on disposal						$ 6,900
Net proceeds after adjustments		27,900
Net assets disposed		18,800
Transaction-related cost		2,200
Goodwill		13,000
Net sales						4,200
Income from operations						1,100
Gain (loss) on disposal						6,900
Strobic Air Corporation [Member] | Definite-Lived Intangible Assets [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Intangible assets		2,300
Strobic Air Corporation [Member] | Indefinite-Lived Intangible Assets [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Intangible assets		$ 1,200
Keystone Filter [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Sale price, subject to post-closing purchase price adjustments			$ 7,500
Gain (loss) on disposal						4,300
Net proceeds after adjustments			7,200
Net assets disposed			2,700
Transaction-related cost			$ 200
Gain (loss) on disposal						$ 4,300
Zhongli [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on disposal	$ (15,100)
Gain (loss) on disposal	(15,100)
Disposal group, consideration receivable	$ 3,600
Net sales				$ 1,600			$ 4,500