DMC Global (BOOM) 10-Q 29 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 29, 2014
Document and Entity Information	'	'
Entity Registrant Name	'DYNAMIC MATERIALS CORP	'
Entity Central Index Key	'0000034067	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	13,979,119

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$8,692	$10,617
Accounts receivable, net of allowance for doubtful accounts of $504 and $419, respectively	39,187	38,715
Inventory, net	46,335	41,550
Prepaid expenses and other	7,221	4,375
Current deferred tax assets	2,740	3,507
Total current assets	104,175	98,764
PROPERTY, PLANT AND EQUIPMENT	111,886	107,802
Less - accumulated depreciation	-46,990	-42,787
Property, plant and equipment, net	64,896	65,015
GOODWILL, net	37,161	37,970
PURCHASED INTANGIBLE ASSETS, net	32,939	36,458
DEFERRED TAX ASSETS	909	505
OTHER ASSETS, net	1,868	1,900
TOTAL ASSETS	241,948	240,612
CURRENT LIABILITIES:	'	'
Accounts payable	9,748	14,668
Accrued expenses	3,754	3,990
Dividend payable	559	550
Accrued income taxes	2,473	2,811
Accrued employee compensation and benefits	4,315	4,806
Customer advances	2,622	1,025
Current debt obligations	20	2,907
Current deferred tax liabilities	417	435
Total current liabilities	23,908	31,192
LINES OF CREDIT	31,800	26,400
DEFERRED TAX LIABILITIES	7,588	8,347
OTHER LONG-TERM LIABILITIES	2,006	1,881
Total liabilities	65,302	67,820
COMMITMENTS AND CONTINGENT LIABILITIES	'	'
STOCKHOLDERS’ EQUITY:	'	'
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	0	0
Common stock, $0.05 par value; 25,000,000 shares authorized; 13,979,119 and 13,772,324 shares issued and outstanding, respectively	699	689
Additional paid-in capital	64,861	62,934
Retained earnings	116,808	113,399
Other cumulative comprehensive loss	-5,722	-4,230
Total stockholders’ equity	176,646	172,792
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$241,948	$240,612

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accounts receivable, allowance for doubtful accounts (in dollars)	$504	$419
Preferred stock, par value (in dollars per share)	$0.05	$0.05
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.05	$0.05
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	13,979,119	13,772,324
Common stock, shares outstanding	13,979,119	13,772,324

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
NET SALES	$53,618	$57,859	$101,657	$104,129
COST OF PRODUCTS SOLD	37,305	40,796	71,015	74,347
Gross profit	16,313	17,063	30,642	29,782
COSTS AND EXPENSES:	'	'	'	'
General and administrative expenses	5,935	5,158	11,637	13,296
Selling and distribution expenses	4,770	4,324	9,018	8,375
Amortization of purchased intangible assets	1,617	1,568	3,232	3,153
Total costs and expenses	12,322	11,050	23,887	24,824
INCOME FROM OPERATIONS	3,991	6,013	6,755	4,958
OTHER INCOME (EXPENSE):	'	'	'	'
Other income (expense), net	332	-420	-103	-124
Interest expense	-174	-183	-283	-355
Interest income	1	1	5	4
INCOME BEFORE INCOME TAXES AND NON-CONTROLLING INTEREST	4,150	5,411	6,374	4,483
INCOME TAX PROVISION	1,263	1,956	1,849	785
NET INCOME	2,887	3,455	4,525	3,698
Less: Net income attributable to non-controlling interest	0	15	0	43
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$2,887	$3,440	$4,525	$3,655
INCOME PER SHARE:	'	'	'	'
Basic (in dollars per share)	$0.21	$0.25	$0.32	$0.27
Diluted (in dollars per share)	$0.21	$0.25	$0.32	$0.27
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:	'	'	'	'
Basic (in shares)	13,672,457	13,526,623	13,668,223	13,523,028
Diluted (in shares)	13,677,911	13,530,588	13,673,807	13,527,011
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$0.04	$0.04	$0.08	$0.08

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income including non-controlling interest	$2,887	$3,455	$4,525	$3,698
Change in cumulative foreign currency translation adjustment	741	446	-1,492	-3,181
Total comprehensive income	3,628	3,901	3,033	517
Comprehensive income attributable to non-controlling interest	0	16	0	41
Comprehensive income attributable to Dynamic Materials Corporation	$3,628	$3,885	$3,033	$476

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Other Cumulative Comprehensive Loss
In Thousands, except Share data, unless otherwise specified
Balances at Dec. 31, 2013	$172,792	$689	$62,934	$113,399	($4,230)
Balances (in shares) at Dec. 31, 2013	13,772,324	13,772,324	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'
Net income	4,525	'	'	4,525	'
Change in cumulative foreign currency translation adjustment	-1,492	'	'	'	-1,492
Shares issued in connection with stock compensation plans (in shares)	'	206,795	'	'	'
Shares issued in connection with stock compensation plans	234	10	224	'	'
Tax impact of stock-based compensation	112	'	112	'	'
Stock-based compensation	1,591	'	1,591	'	'
Dividends declared	-1,116	'	'	-1,116	'
Balances at Jun. 30, 2014	$176,646	$699	$64,861	$116,808	($5,722)
Balances (in shares) at Jun. 30, 2014	13,979,119	13,979,119	'	'	'

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$4,525	$3,698
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation (including capital lease amortization)	3,922	2,874
Amortization of purchased intangible assets	3,232	3,153
Amortization of deferred debt issuance costs	51	51
Stock-based compensation	1,591	2,057
Deferred income tax provision (benefit)	-69	196
Gain on disposal of property, plant and equipment	5	21
Change in:	'	'
Accounts receivable, net	-706	-5,012
Inventory, net	-5,089	1,889
Prepaid expenses and other	-2,876	-543
Accounts payable	-4,820	3,103
Customer advances	1,612	3,427
Accrued expenses and other liabilities	-687	484
Net cash provided by operating activities	691	15,398
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Acquisition of property, plant and equipment	-4,215	-9,726
Change in other non-current assets	-52	192
Net cash used in investing activities	-4,267	-9,534
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Borrowings (repayments) on bank lines of credit, net	2,555	-9,811
Payment on loans with former owners of LRI	-31	-32
Payment on capital lease obligations	-22	-25
Payment of dividends	-1,108	-1,088
Net proceeds from issuance of common stock to employees and directors	234	163
Tax impact of stock-based compensation	112	-836
Net cash provided by (used in) financing activities	1,740	-11,629
EFFECTS OF EXCHANGE RATES ON CASH	-89	-112
NET DECREASE IN CASH AND CASH EQUIVALENTS	-1,925	-5,877
CASH AND CASH EQUIVALENTS, beginning of the period	10,617	8,200
CASH AND CASH EQUIVALENTS, end of the period	$8,692	$2,323

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION
	The information included in the condensed consolidated financial statements is unaudited but includes all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the financial statements that are included in our Annual Report filed on Form 10-K for the year ended December 31, 2013.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
SIGNIFICANT ACCOUNTING POLICIES	'
	SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Dynamic Materials Corporation (“DMC”) and its controlled subsidiaries.  Only subsidiaries in which controlling interests are maintained are consolidated.  All significant intercompany accounts, profits, and transactions have been eliminated in consolidation.
	Income Taxes
	The effective tax rate for each of the periods reported differs from the U.S. statutory rate due primarily to favorable foreign permanent differences, variation in contribution to consolidated pre-tax income from each jurisdiction for the respective periods and differences between the U.S. and foreign tax rates (which range from 20% to 35%) on earnings that have been permanently reinvested.
	In January 2013, the United States Congress authorized, and the President signed into law, legislation which retroactively changed federal tax laws for 2012. Since this legislation was enacted in 2013, the financial statement benefit from these changes, totaling $914, was reflected in the provision for income taxes in the consolidated statement of operations during the six months ended June 30, 2013.
	Earnings Per Share
	Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock awards (“RSAs”), are considered participating securities for purposes of calculating earnings per share (“EPS”) and require the use of the two class method for calculating EPS.  Under this method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table below.
	Computation and reconciliation of earnings per common share are as follows:
		For the three months ended						For the three months ended
		June 30, 2014						June 30, 2013
		Income			Shares	EPS		Income			Shares	EPS
	Basic earnings per share:
	Net income attributable to DMC	$	2,887					$	3,440
	Less income allocated to RSAs	(61		)				(53		)
	Net income allocated to common stock for EPS calculation	$	2,826		13,672,457	$	0.21	$	3,387		13,526,623	$	0.25
	Adjust shares for dilutives:
	Stock-based compensation plans				5,454						3,965
	Diluted earnings per share:
	Net income attributable to DMC	$	2,887					$	3,440
	Less income allocated to RSAs	(61		)				(53		)
	Net income allocated to common stock for EPS calculation	$	2,826		13,677,911	$	0.21	$	3,387		13,530,588	$	0.25
		For the six months ended						For the six months ended
		June 30, 2014						June 30, 2013
		Income			Shares	EPS		Income			Shares	EPS
	Basic earnings per share:
	Net income attributable to DMC	$	4,525					$	3,655
	Less income allocated to RSAs	(95		)				(56		)
	Net income allocated to common stock for EPS calculation	$	4,430		13,668,223	$	0.32	$	3,599		13,523,028	$	0.27
	Adjust shares for dilutives:
	Stock-based compensation plans				5,584						3,983
	Diluted earnings per share:
	Net income attributable to DMC	$	4,525					$	3,655
	Less income allocated to RSAs	(95		)				(56		)
	Net income allocated to common stock for EPS calculation	$	4,430		13,673,807	$	0.32	$	3,599		13,527,011	$	0.27
	Fair Value of Financial Instruments
	The carrying value of cash and cash equivalents, trade accounts receivable and payable, accrued expenses, lines of credit and other debt approximate their fair value.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued an accounting standards update to clarify the principles of recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and IFRS. The pronouncement is effective for reporting periods beginning after December 15, 2016. The adoption of this update is not expected to have a significant impact on our financial statements.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
INVENTORIES	'
	INVENTORIES
	Inventories are stated at the lower-of-cost (first-in, first-out) or market value. Cost elements included in inventory are material, labor, subcontract costs, and manufacturing overhead. As necessary, we record provisions and maintain reserves for excess, slow moving and obsolete inventory. To determine reserve amounts, we regularly review inventory quantities on hand and values, and compare them to estimates of future product demand, market conditions, production requirements and technological developments.
	Inventories consist of the following at June 30, 2014 and December 31, 2013 and include reserves of $1,958 and $1,729, respectively:
		June 30,		December 31,
		2014		2013
	Raw materials	$	15,503	$	13,122
	Work-in-process	10,062		10,188
	Finished goods	19,842		17,273
	Supplies	928		967
		$	46,335	$	41,550

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2014
GOODWILL DISCLOSURE ABSTRACT	'
GOODWILL	'
	GOODWILL
	The changes to the carrying amount of goodwill during the period are summarized below:
		NobelClad			Oilfield Products			Total
	Goodwill balance at December 31, 2013	$	22,238		$	15,732		$	37,970
	Adjustment due to recognition of tax benefit of tax amortization of certain goodwill	(179		)	(306		)	(485		)
	Adjustment due to exchange rate differences	(186		)	(138		)	(324		)
	Goodwill balance at June 30, 2014	$	21,873		$	15,288		$	37,161

PURCHASED_INTANGIBLE_ASSETS

PURCHASED INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2014
PURCHASED INTANGIBLE ASSETS DISCLOSURE ABSTRACT	'
PURCHASED INTANGIBLE ASSETS	'
	PURCHASED INTANGIBLE ASSETS
	The following table presents details of our purchased intangible assets, other than goodwill, as of June 30, 2014:
		Gross		Accumulated			Net
				Amortization
	Core technology	$	23,189	$	(7,676	)	$	15,513
	Customer relationships	44,910		(28,145		)	16,765
	Trademarks / Trade names	2,487		(1,826		)	661
	Total intangible assets	$	70,586	$	(37,647	)	$	32,939
	The following table presents details of our purchased intangible assets, other than goodwill, as of December 31, 2013:
		Gross		Accumulated			Net
				Amortization
	Core technology	$	23,391	$	(7,155	)	$	16,236
	Customer relationships	45,269		(25,813		)	19,456
	Trademarks / Trade names	2,510		(1,744		)	766
	Total intangible assets	$	71,170	$	(34,712	)	$	36,458
	The change in the gross value of our purchased intangible assets from December 31, 2013 to June 30, 2014 was due to foreign currency translation.

CUSTOMER_ADVANCES

CUSTOMER ADVANCES	6 Months Ended
	Jun. 30, 2014
CUSTOMER ADVANCES DISCLOSURE ABSTRACT	'
CUSTOMER ADVANCES	'
	CUSTOMER ADVANCES
	On occasion, we require customers to make advance payments prior to the shipment of goods in order to help finance our inventory investment on large orders or to keep customers’ credit limits at acceptable levels.  As of June 30, 2014 and December 31, 2013, customer advances totaled $2,622 and $1,025, respectively, and originated from several customers.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
DEBT	'
	DEBT
	Lines of credit consisted of the following at June 30, 2014 and December 31, 2013:
		June 30,			December 31,
		2014			2013
	Syndicated credit agreement:
	U.S. Dollar revolving loan	$	31,800		$	26,400
	German Bank line of credit	—			2,856
		31,800			29,256
	Less current portion	—			(2,856		)
	Long-term lines of credit	$	31,800		$	26,400
	Other debt consisted of the following at June 30, 2014 and December 31, 2013:
		June 30,			December 31,
		2014			2013
	Loans with former owners of LRI	$	20		$	51
	Less current maturities	(20		)	(51		)
	Other debt	$	—		$	—
	Loan Covenants and Restrictions
	Our existing loan agreements include various covenants and restrictions, certain of which relate to the payment of dividends or other distributions to stockholders; redemption of capital stock; incurrence of additional indebtedness; mortgaging, pledging or disposition of major assets; and maintenance of specified financial ratios.  As of June 30, 2014, we were in compliance with all financial covenants and other provisions of our debt agreements.

BUSINESS_SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
BUSINESS SEGMENTS	'
	BUSINESS SEGMENTS
	Our business is organized in the following two segments:  NobelClad and Oilfield Products. The NobelClad segment uses explosives to perform metal cladding and shock synthesis of industrial diamonds. The most significant product of this group is clad metal which is used in the fabrication of pressure vessels, heat exchangers, and transition joints for various industries, including upstream oil and gas, oil refinery, petrochemicals, hydrometallurgy, aluminum production, shipbuilding, power generation, industrial refrigeration, and similar industries.  The Oilfield Products segment manufactures, markets and sells oilfield perforating equipment and explosives, including detonating cords, detonators, bi-directional boosters and shaped charges, and seismic related explosives and accessories.  Oilfield Products also utilizes a number of welding technologies to weld components for manufacturers of jet engine and ground-based turbines.
	Prior to 2014, we were organized into three segments. At the beginning of 2014 management approved a change in operating structure whereby AMK Technical Services ("AMK") will operate within and be managed as part of the Oilfield Products business segment. Consequently, we combined AMK and DynaEnergetics into one reportable business segment, Oilfield Products. AMK represented 3% of segment assets, 4% of consolidated sales and 2% of segment operating income as of and for the year then ended December 31, 2013. All prior periods segment disclosures have been restated to conform to the 2014 presentation.
	The accounting policies of all of the segments are the same as those described in the summary of significant accounting policies included herein and in our Annual Report on Form 10-K for the year ended December 31, 2013.  Our reportable segments are separately managed strategic business units that offer different products and services. Each segment’s products are marketed to different customer types and require different manufacturing processes and technologies.
	Segment information is presented for the three and six months ended June 30, 2014 and 2013 as follows:
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Net sales:
	NobelClad	$	26,231		$	32,390		$	50,795		$	58,572
	Oilfield Products	27,387			25,469			50,862			45,557
	Consolidated net sales	$	53,618		$	57,859		$	101,657		$	104,129
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Income before income taxes:
	NobelClad	$	3,122		$	5,245		$	4,500		$	7,689
	Oilfield Products	3,395			2,561			6,965			3,990
	Segment operating income	6,517			7,806			11,465			11,679
	Unallocated corporate expenses	(1,490		)	(1,158		)	(3,119		)	(4,664		)
	Stock-based compensation	(1,036		)	(635		)	(1,591		)	(2,057		)
	Other income (expense)	332			(420		)	(103		)	(124		)
	Interest expense	(174		)	(183		)	(283		)	(355		)
	Interest income	1			1			5			4
	Consolidated income before income taxes	$	4,150		$	5,411		$	6,374		$	4,483
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Depreciation and Amortization:
	NobelClad	$	1,682		$	1,467		$	3,414		$	2,923
	Oilfield Products	1,862			1,558			3,740			3,104
	Segment depreciation and amortization	$	3,544		$	3,025		$	7,154		$	6,027
	During the three and six months ended June 30, 2014, no one customer accounted for more than 10% of total net sales.  During the three months ended June 30, 2013, sales to one customer accounted for $7,451 (12.9%) of total net sales. During the six months ended June 30, 2013, no one customer accounted for more than 10% of total net sales.

RETIREMENT_EXPENSES

RETIREMENT EXPENSES	6 Months Ended
	Jun. 30, 2014
Compensation Related Costs [Abstract]	'
RETIREMENT EXPENSES	'
	RETIREMENT EXPENSES
	During the first quarter of 2013 and, as a result of board actions taken in January 2013, we recorded a one-time expense of $2,965 associated with management retirements, the majority of which relates to the March 1, 2013 retirement of Yvon Cariou, our former President and Chief Executive Officer.  This expense included $894 of stock-based compensation, with the remainder representing cash payments.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Principles of Consolidation	'
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Dynamic Materials Corporation (“DMC”) and its controlled subsidiaries.  Only subsidiaries in which controlling interests are maintained are consolidated.  All significant intercompany accounts, profits, and transactions have been eliminated in consolidation.
Income Taxes	'
	Income Taxes
	The effective tax rate for each of the periods reported differs from the U.S. statutory rate due primarily to favorable foreign permanent differences, variation in contribution to consolidated pre-tax income from each jurisdiction for the respective periods and differences between the U.S. and foreign tax rates (which range from 20% to 35%) on earnings that have been permanently reinvested.
Earnings Per Share	'
	Earnings Per Share
	Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock awards (“RSAs”), are considered participating securities for purposes of calculating earnings per share (“EPS”) and require the use of the two class method for calculating EPS.  Under this method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The carrying value of cash and cash equivalents, trade accounts receivable and payable, accrued expenses, lines of credit and other debt approximate their fair value.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued an accounting standards update to clarify the principles of recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and IFRS. The pronouncement is effective for reporting periods beginning after December 15, 2016. The adoption of this update is not expected to have a significant impact on our financial statements.
Inventory	'
	Inventories are stated at the lower-of-cost (first-in, first-out) or market value. Cost elements included in inventory are material, labor, subcontract costs, and manufacturing overhead. As necessary, we record provisions and maintain reserves for excess, slow moving and obsolete inventory. To determine reserve amounts, we regularly review inventory quantities on hand and values, and compare them to estimates of future product demand, market conditions, production requirements and technological developments.
Customer Advances	'
	On occasion, we require customers to make advance payments prior to the shipment of goods in order to help finance our inventory investment on large orders or to keep customers’ credit limits at acceptable levels.

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of computation and reconciliation of earnings per common share	'
	Computation and reconciliation of earnings per common share are as follows:
		For the three months ended						For the three months ended
		June 30, 2014						June 30, 2013
		Income			Shares	EPS		Income			Shares	EPS
	Basic earnings per share:
	Net income attributable to DMC	$	2,887					$	3,440
	Less income allocated to RSAs	(61		)				(53		)
	Net income allocated to common stock for EPS calculation	$	2,826		13,672,457	$	0.21	$	3,387		13,526,623	$	0.25
	Adjust shares for dilutives:
	Stock-based compensation plans				5,454						3,965
	Diluted earnings per share:
	Net income attributable to DMC	$	2,887					$	3,440
	Less income allocated to RSAs	(61		)				(53		)
	Net income allocated to common stock for EPS calculation	$	2,826		13,677,911	$	0.21	$	3,387		13,530,588	$	0.25
		For the six months ended						For the six months ended
		June 30, 2014						June 30, 2013
		Income			Shares	EPS		Income			Shares	EPS
	Basic earnings per share:
	Net income attributable to DMC	$	4,525					$	3,655
	Less income allocated to RSAs	(95		)				(56		)
	Net income allocated to common stock for EPS calculation	$	4,430		13,668,223	$	0.32	$	3,599		13,523,028	$	0.27
	Adjust shares for dilutives:
	Stock-based compensation plans				5,584						3,983
	Diluted earnings per share:
	Net income attributable to DMC	$	4,525					$	3,655
	Less income allocated to RSAs	(95		)				(56		)
	Net income allocated to common stock for EPS calculation	$	4,430		13,673,807	$	0.32	$	3,599		13,527,011	$	0.27

INVENTORIES_Tables

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of components of inventory	'
	Inventories consist of the following at June 30, 2014 and December 31, 2013 and include reserves of $1,958 and $1,729, respectively:
		June 30,		December 31,
		2014		2013
	Raw materials	$	15,503	$	13,122
	Work-in-process	10,062		10,188
	Finished goods	19,842		17,273
	Supplies	928		967
		$	46,335	$	41,550

GOODWILL_Tables

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2014
GOODWILL DISCLOSURE ABSTRACT	'
Schedule of changes to the carrying amount of goodwill	'
	The changes to the carrying amount of goodwill during the period are summarized below:
		NobelClad			Oilfield Products			Total
	Goodwill balance at December 31, 2013	$	22,238		$	15,732		$	37,970
	Adjustment due to recognition of tax benefit of tax amortization of certain goodwill	(179		)	(306		)	(485		)
	Adjustment due to exchange rate differences	(186		)	(138		)	(324		)
	Goodwill balance at June 30, 2014	$	21,873		$	15,288		$	37,161

PURCHASED_INTANGIBLE_ASSETS_Ta

PURCHASED INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2014
PURCHASED INTANGIBLE ASSETS DISCLOSURE ABSTRACT	'
Schedule of details of purchased intangible assets, other than goodwill	'
	The following table presents details of our purchased intangible assets, other than goodwill, as of June 30, 2014:
		Gross		Accumulated			Net
				Amortization
	Core technology	$	23,189	$	(7,676	)	$	15,513
	Customer relationships	44,910		(28,145		)	16,765
	Trademarks / Trade names	2,487		(1,826		)	661
	Total intangible assets	$	70,586	$	(37,647	)	$	32,939
	The following table presents details of our purchased intangible assets, other than goodwill, as of December 31, 2013:
		Gross		Accumulated			Net
				Amortization
	Core technology	$	23,391	$	(7,155	)	$	16,236
	Customer relationships	45,269		(25,813		)	19,456
	Trademarks / Trade names	2,510		(1,744		)	766
	Total intangible assets	$	71,170	$	(34,712	)	$	36,458

DEBT_Tables

DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of lines of credit	'
	Lines of credit consisted of the following at June 30, 2014 and December 31, 2013:
		June 30,			December 31,
		2014			2013
	Syndicated credit agreement:
	U.S. Dollar revolving loan	$	31,800		$	26,400
	German Bank line of credit	—			2,856
		31,800			29,256
	Less current portion	—			(2,856		)
	Long-term lines of credit	$	31,800		$	26,400
Schedule of long-term debt	'
	Other debt consisted of the following at June 30, 2014 and December 31, 2013:
		June 30,			December 31,
		2014			2013
	Loans with former owners of LRI	$	20		$	51
	Less current maturities	(20		)	(51		)
	Other debt	$	—		$	—

BUSINESS_SEGMENTS_Tables

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Schedule of segment information	'
	Segment information is presented for the three and six months ended June 30, 2014 and 2013 as follows:
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Net sales:
	NobelClad	$	26,231		$	32,390		$	50,795		$	58,572
	Oilfield Products	27,387			25,469			50,862			45,557
	Consolidated net sales	$	53,618		$	57,859		$	101,657		$	104,129
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Income before income taxes:
	NobelClad	$	3,122		$	5,245		$	4,500		$	7,689
	Oilfield Products	3,395			2,561			6,965			3,990
	Segment operating income	6,517			7,806			11,465			11,679
	Unallocated corporate expenses	(1,490		)	(1,158		)	(3,119		)	(4,664		)
	Stock-based compensation	(1,036		)	(635		)	(1,591		)	(2,057		)
	Other income (expense)	332			(420		)	(103		)	(124		)
	Interest expense	(174		)	(183		)	(283		)	(355		)
	Interest income	1			1			5			4
	Consolidated income before income taxes	$	4,150		$	5,411		$	6,374		$	4,483
		Three months ended June 30,						Six months ended June 30,
		2014			2013			2014			2013
	Depreciation and Amortization:
	NobelClad	$	1,682		$	1,467		$	3,414		$	2,923
	Oilfield Products	1,862			1,558			3,740			3,104
	Segment depreciation and amortization	$	3,544		$	3,025		$	7,154		$	6,027

SIGNIFICANT_ACCOUNTING_POLICIE3

SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Taxes	'	'	'	'
Foreign tax rate, low end of range (as a percent)	'	'	20.00%	'
Foreign tax rate, high end of range (as a percent)	'	'	35.00%	'
Financial statement benefit from change in federal tax laws	'	'	'	$914
Basic earnings per share:	'	'	'	'
Net income attributable to DMC	2,887	3,440	4,525	3,655
Less income allocated to RSAs	-61	-53	-95	-56
Net income allocated to common stock for EPS calculation	2,826	3,387	4,430	3,599
Shares, basic	13,672,457	13,526,623	13,668,223	13,523,028
EPS, basic (in dollars per share)	$0.21	$0.25	$0.32	$0.27
Adjust shares for dilutives: Stock-based compensation plans	5,454	3,965	5,584	3,983
Diluted earnings per share:	'	'	'	'
Net income attributable to DMC	2,887	3,440	4,525	3,655
Less income allocated to RSAs	-61	-53	-95	-56
Net income allocated to common stock for EPS calculation	$2,826	$3,387	$4,430	$3,599
Shares, diluted	13,677,911	13,530,588	13,673,807	13,527,011
EPS, diluted (in dollars per share)	$0.21	$0.25	$0.32	$0.27

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Inventory valuation reserves	$1,958	$1,729
Inventories	'	'
Raw materials	15,503	13,122
Work-in-process	10,062	10,188
Finished goods	19,842	17,273
Supplies	928	967
Total inventory	$46,335	$41,550

GOODWILL_Details

GOODWILL (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Changes to the carrying amount of goodwill	'
Goodwill balance at the beginning of the period	$37,970
Adjustment due to recognition of tax benefit of tax amortization of certain goodwill	-485
Adjustment due to exchange rate differences	-324
Goodwill balance at the end of the period	37,161
NobelClad	'
Changes to the carrying amount of goodwill	'
Goodwill balance at the beginning of the period	22,238
Adjustment due to recognition of tax benefit of tax amortization of certain goodwill	-179
Adjustment due to exchange rate differences	-186
Goodwill balance at the end of the period	21,873
Oilfield Products	'
Changes to the carrying amount of goodwill	'
Goodwill balance at the beginning of the period	15,732
Adjustment due to recognition of tax benefit of tax amortization of certain goodwill	-306
Adjustment due to exchange rate differences	-138
Goodwill balance at the end of the period	$15,288

PURCHASED_INTANGIBLE_ASSETS_De

PURCHASED INTANGIBLE ASSETS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Purchased intangible assets	'	'
Gross	$70,586	$71,170
Accumulated Amortization	-37,647	-34,712
Net	32,939	36,458
Core technology	'	'
Purchased intangible assets	'	'
Gross	23,189	23,391
Accumulated Amortization	-7,676	-7,155
Net	15,513	16,236
Customer relationships	'	'
Purchased intangible assets	'	'
Gross	44,910	45,269
Accumulated Amortization	-28,145	-25,813
Net	16,765	19,456
Trademarks / Trade names	'	'
Purchased intangible assets	'	'
Gross	2,487	2,510
Accumulated Amortization	-1,826	-1,744
Net	$661	$766

CUSTOMER_ADVANCES_Details

CUSTOMER ADVANCES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CUSTOMER ADVANCES DISCLOSURE ABSTRACT	'	'
Customer advances	$2,622	$1,025

DEBT_Details

DEBT (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Lines of credit	'	'
Total lines of credit	$31,800	$29,256
Less current portion	0	-2,856
Long-term lines of credit	31,800	26,400
U.S. Dollar revolving loan	'	'
Lines of credit	'	'
Total lines of credit	31,800	26,400
German Bank line of credit	'	'
Lines of credit	'	'
Total lines of credit	0	2,856
Loans with former owners of LRI	'	'
Long-term debt	'	'
Loans with former owners of LRI	20	51
Less current maturities	-20	-51
Other debt	$0	$0

BUSINESS_SEGMENTS_Details

BUSINESS SEGMENTS (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
			Segment	Segment
Segment information	'	'	'	'
Number of segments	'	'	2	3
Consolidated net sales	$53,618	$57,859	$101,657	$104,129
Depreciation and amortization	3,544	3,025	7,154	6,027
Income from operations	3,991	6,013	6,755	4,958
Unallocated amounts:	'	'	'	'
Unallocated corporate expenses	-1,490	-1,158	-3,119	-4,664
Stock-based compensation	-1,036	-635	-1,591	-2,057
Other income (expense)	332	-420	-103	-124
Interest expense	-174	-183	-283	-355
Interest income	1	1	5	4
Consolidated income before income taxes	4,150	5,411	6,374	4,483
Reportable Segments	'	'	'	'
Segment information	'	'	'	'
Income from operations	6,517	7,806	11,465	11,679
NobelClad	'	'	'	'
Segment information	'	'	'	'
Consolidated net sales	26,231	32,390	50,795	58,572
Depreciation and amortization	1,682	1,467	3,414	2,923
Income from operations	3,122	5,245	4,500	7,689
Oilfield Products	'	'	'	'
Segment information	'	'	'	'
Consolidated net sales	27,387	25,469	50,862	45,557
Depreciation and amortization	1,862	1,558	3,740	3,104
Income from operations	3,395	2,561	6,965	3,990
Customer Concentration Risk	'	'	'	'
Unallocated amounts:	'	'	'	'
Number of customers representing greater than 10% of total net sales	0	1	0	0
Sales concentration	'	$7,451	'	'
Segment assets | AMK Technical Services	'	'	'	'
Segment information	'	'	'	'
Concentration risk percentage	'	'	3.00%	'
Consolidated sales | AMK Technical Services	'	'	'	'
Segment information	'	'	'	'
Concentration risk percentage	'	'	4.00%	'
Consolidated sales | Customer Concentration Risk	'	'	'	'
Segment information	'	'	'	'
Concentration risk percentage	'	12.90%	'	'
Segment operating income | AMK Technical Services	'	'	'	'
Segment information	'	'	'	'
Concentration risk percentage	'	'	2.00%	'

RETIREMENT_EXPENSES_Details

RETIREMENT EXPENSES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]	'	'	'	'
Stock-based compensation	$1,036	$635	$1,591	$2,057
Former President and Chief Executive Officer [Member]	'	'	'	'
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]	'	'	'	'
Expenses associated with management retirements	'	2,965	'	'
Stock-based compensation	'	$894	'	'