Allient (ALNT) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 01, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Entity File Number	0-04041
Entity Registrant Name	ALLIED MOTION TECHNOLOGIES INC
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	84-0518115
Entity Address, Address Line One	495 Commerce Drive
Entity Address, City or Town	Amherst
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14228
City Area Code	716
Local Phone Number	242-8634
Title of 12(b) Security	Common stock
Trading Symbol	AMOT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,744,312
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000046129
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 19,019	$ 13,416
Trade receivables, net of provision for credit losses of $605 and allowance for doubtful accounts of $405 at June 30, 2020 and December 31, 2019, respectively	49,595	44,429
Inventories	61,453	53,385
Prepaid expenses and other assets	3,699	4,413
Total current assets	133,766	115,643
Property, plant and equipment, net	53,465	53,008
Deferred income taxes	846	490
Intangible assets, net	67,378	62,497
Goodwill	59,501	52,935
Right of use assets	18,987	16,420
Other long-term assets	4,556	4,835
Total Assets	338,499	305,828
Current liabilities:
Accounts payable	27,453	23,640
Accrued liabilities	22,210	23,001
Total current liabilities	49,663	46,641
Long-term debt	128,452	109,765
Deferred income taxes	4,649	3,399
Pension and post-retirement obligations	5,205	5,139
Right of use liabilities	15,471	13,715
Other long-term liabilities	8,779	7,975
Total liabilities	212,219	186,634
Stockholders' Equity:
Common stock, no par value, authorized 50,000 shares; 9,744 and 9,599 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	39,786	37,136
Preferred stock, par value $1.00 per share, authorized 5,000 shares; no shares issued or outstanding
Retained earnings	98,938	92,589
Accumulated other comprehensive loss	(12,444)	(10,531)
Total stockholders' equity	126,280	119,194
Total Liabilities and Stockholders' Equity	$ 338,499	$ 305,828

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade receivables, allowance for doubtful accounts (in dollars)		$ 405
Trade receivables, provision for credit losses	$ 605
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	50,000	50,000
Common stock, shares issued	9,744	9,599
Common stock, shares outstanding	9,744	9,599
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized shares	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Revenues	$ 86,661	$ 92,630	$ 179,043	$ 186,526
Cost of goods sold	60,201	64,208	124,541	130,442
Gross profit	26,460	28,422	54,502	56,084
Operating costs and expenses:
Selling	3,842	4,136	8,085	8,229
General and administrative	9,710	9,569	18,872	18,519
Engineering and development	6,197	5,676	12,431	11,483
Business development	177	3	424	56
Amortization of intangible assets	1,483	1,430	2,924	2,862
Total operating costs and expenses	21,409	20,814	42,736	41,149
Operating income	5,051	7,608	11,766	14,935
Other expense (income):
Interest expense	901	1,435	1,955	2,615
Other expense (income), net	17	(1)	76	(19)
Total other expense, net	918	1,434	2,031	2,596
Income before income taxes	4,133	6,174	9,735	12,339
Provision for income taxes	(1,237)	(1,729)	(2,804)	(3,424)
Net income	$ 2,896	$ 4,445	$ 6,931	$ 8,915
Basic earnings per share:
Earnings per share (in dollars per share)	$ 0.30	$ 0.47	$ 0.73	$ 0.95
Basic weighted average common shares (in shares)	9,509	9,408	9,474	9,378
Diluted earnings per share:
Earnings per share (in dollars per share)	$ 0.30	$ 0.47	$ 0.73	$ 0.95
Diluted weighted average common shares (in shares)	9,536	9,456	9,518	9,419
Net income	$ 2,896	$ 4,445	$ 6,931	$ 8,915
Other comprehensive income:
Foreign currency translation adjustment	1,932	548	(496)	(339)
Loss on derivatives	(329)	(436)	(1,417)	(698)
Comprehensive income	$ 4,499	$ 4,557	$ 5,018	$ 7,878

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock and Paid-in Capital	Common Stock	Unamortized Cost of Equity Awards	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balances at Dec. 31, 2018	$ 33,613	$ 36,779	$ (3,166)	$ 76,718	$ (8,518)	$ 101,813
Balances (in shares) at Dec. 31, 2018		9,485
Increase (Decrease) in Stockholders' Equity
Stock transactions under employee benefit stock plans	1,088	$ 1,088				1,088
Stock transactions under employee benefit stock plans (in shares)		27
Issuance of restricted stock, net of forfeitures	330	$ 4,059	(3,729)			330
Issuance of restricted stock, net of forfeitures (in shares)		96
Stock compensation expense	596		596			596
Shares withheld for payment of employee payroll taxes	(63)	$ (63)				(63)
Shares withheld for payment of employee payroll taxes (in shares)		(1)
Foreign currency translation adjustment					(887)	(887)
Accumulated income (loss) on derivatives					(343)	(343)
Tax effect of derivative transactions					81	81
Net income				4,470		4,470
Dividends to stockholders				(287)		(287)
Balances at Mar. 31, 2019	35,564	$ 41,863	(6,299)	80,901	(9,667)	106,798
Balances (in shares) at Mar. 31, 2019		9,607
Balances at Dec. 31, 2018	33,613	$ 36,779	(3,166)	76,718	(8,518)	101,813
Balances (in shares) at Dec. 31, 2018		9,485
Increase (Decrease) in Stockholders' Equity
Foreign currency translation adjustment						(339)
Net income						8,915
Balances at Jun. 30, 2019	35,697	$ 41,632	(5,935)	85,058	(9,555)	111,200
Balances (in shares) at Jun. 30, 2019		9,600
Balances at Mar. 31, 2019	35,564	$ 41,863	(6,299)	80,901	(9,667)	106,798
Balances (in shares) at Mar. 31, 2019		9,607
Increase (Decrease) in Stockholders' Equity
Issuance of restricted stock, net of forfeitures		$ 416	(416)
Issuance of restricted stock, net of forfeitures (in shares)		11
Stock compensation expense	780		780			780
Shares withheld for payment of employee payroll taxes	(647)	$ (647)				(647)
Shares withheld for payment of employee payroll taxes (in shares)		(18)
Foreign currency translation adjustment					548	548
Accumulated income (loss) on derivatives					(564)	(564)
Tax effect of derivative transactions					128	128
Net income				4,445		4,445
Dividends to stockholders				(288)		(288)
Balances at Jun. 30, 2019	35,697	$ 41,632	(5,935)	85,058	(9,555)	111,200
Balances (in shares) at Jun. 30, 2019		9,600
Balances at Dec. 31, 2019	37,136	$ 41,642	(4,506)	92,589	(10,531)	$ 119,194
Balances (in shares) at Dec. 31, 2019		9,599				9,599
Increase (Decrease) in Stockholders' Equity
Stock transactions under employee benefit stock plans	1,252	$ 1,252				$ 1,252
Stock transactions under employee benefit stock plans (in shares)		32
Issuance of restricted stock, net of forfeitures	485	$ 3,574	(3,089)			485
Issuance of restricted stock, net of forfeitures (in shares)		104
Stock compensation expense	789		789			789
Shares withheld for payment of employee payroll taxes	(256)	$ (256)				(256)
Shares withheld for payment of employee payroll taxes (in shares)		(24)
Foreign currency translation adjustment					(2,428)	(2,428)
Accumulated income (loss) on derivatives					(1,432)	(1,432)
Tax effect of derivative transactions					344	344
Net income				4,035		4,035
Dividends to stockholders				(290)		(290)
Balances at Mar. 31, 2020	39,406	$ 46,212	(6,806)	96,334	(14,047)	121,693
Balances (in shares) at Mar. 31, 2020		9,711
Balances at Dec. 31, 2019	37,136	$ 41,642	(4,506)	92,589	(10,531)	$ 119,194
Balances (in shares) at Dec. 31, 2019		9,599				9,599
Increase (Decrease) in Stockholders' Equity
Foreign currency translation adjustment						$ (496)
Net income						6,931
Balances at Jun. 30, 2020	39,786	$ 46,893	(7,107)	98,938	(12,444)	$ 126,280
Balances (in shares) at Jun. 30, 2020		9,744				9,744
Balances at Mar. 31, 2020	39,406	$ 46,212	(6,806)	96,334	(14,047)	$ 121,693
Balances (in shares) at Mar. 31, 2020		9,711
Increase (Decrease) in Stockholders' Equity
Issuance of restricted stock, net of forfeitures		$ 1,222	(1,222)
Issuance of restricted stock, net of forfeitures (in shares)		38
Stock compensation expense	921		921			921
Shares withheld for payment of employee payroll taxes	(541)	$ (541)				(541)
Shares withheld for payment of employee payroll taxes (in shares)		(5)
Foreign currency translation adjustment					1,932	1,932
Accumulated income (loss) on derivatives					(433)	(433)
Tax effect of derivative transactions					104	104
Net income				2,896		2,896
Dividends to stockholders				(292)		(292)
Balances at Jun. 30, 2020	$ 39,786	$ 46,893	$ (7,107)	$ 98,938	$ (12,444)	$ 126,280
Balances (in shares) at Jun. 30, 2020		9,744				9,744

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Dividends declared (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows From Operating Activities:
Net income	$ 6,931	$ 8,915
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	7,627	7,327
Deferred income taxes	(841)	(491)
Stock based compensation expense	1,720	1,540
Debt issue cost amortization recorded in interest expense	73	87
Other	885	(166)
Changes in operating assets and liabilities, net of acquisition:
Trade receivables	(1,178)	(8,692)
Inventories	(5,193)	1,973
Prepaid expenses and other assets	1,472	(289)
Accounts payable	(1,627)	(795)
Accrued liabilities	(3,270)	(557)
Net cash provided by operating activities	6,599	8,852
Cash Flows From Investing Activities:
Purchase of property and equipment	(3,614)	(6,401)
Cash paid for acquisitions, net of cash acquired	(14,728)
Net cash used in investing activities	(18,342)	(6,401)
Cash Flows From Financing Activities:
Borrowings on long term debt	26,979	7,695
Principal payments of long-term debt	(7,937)	(7,000)
Payment of debt issuance costs	(401)
Dividends paid to stockholders	(569)	(605)
Stock transactions under employee benefit stock plans	(797)	(710)
Net cash provided by (used in) financing activities	17,275	(620)
Effect of foreign exchange rate changes on cash	71	(41)
Net increase in cash and cash equivalents	5,603	1,790
Cash and cash equivalents at beginning of period	13,416	8,673
Cash and cash equivalents at end of period	$ 19,019	$ 10,463

BASIS OF PREPARATION AND PRESEN

BASIS OF PREPARATION AND PRESENTATION	6 Months Ended
	Jun. 30, 2020
BASIS OF PREPARATION AND PRESENTATION
BASIS OF PREPARATION AND PRESENTATION	1. BASIS OF PREPARATION AND PRESENTATION Allied Motion Technologies Inc. (“Allied Motion” or the “Company”) is engaged in the business of designing, manufacturing and selling controlled motion solutions, which include integrated system solutions as well as individual controlled motion products, to a broad spectrum of customers throughout the world. The Company’s target markets include Vehicle, Medical, Aerospace & Defense and Industrial. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using end of period exchange rates. Changes in reported amounts of assets and liabilities of foreign subsidiaries that occur as a result of changes in exchange rates between foreign subsidiaries’ functional currencies and the U.S. dollar are included in foreign currency translation adjustment. Foreign currency translation adjustment is included in other comprehensive loss, a component of stockholders’ equity in the accompanying condensed consolidated statements of stockholders’ equity. Revenue and expense transactions use an average rate prevailing during the month of the related transaction. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency of each of the Technology Units (“TUs”) are included in the results of operations as incurred. The condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and include all adjustments which are, in the opinion of management, necessary for a fair presentation. Certain information and footnote disclosures normally included in financial statements which are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The Company believes that the disclosures herein are adequate to make the information presented not misleading. The financial data for the interim periods may not necessarily be indicative of results to be expected for the year. The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities as well as disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. It is suggested that the accompanying condensed consolidated financial statements be read in conjunction with the Consolidated Financial Statements and related Notes to such statements included in the Annual Report on Form 10-K for the year ended December 31, 2019 that was previously filed by the Company.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2020
ACQUISITIONS
ACQUISITIONS	2. ACQUISITIONS Dynamic Controls On March 7, 2020, the Company acquired 100% of the issued and outstanding share capital of the Dynamic Controls Group (“Dynamic Controls”), a wholly owned subsidiary of Invacare Corporation, a market-leading designer and manufacturer of equipment for the medical mobility and rehabilitation markets. The purchase price was funded using borrowings under the Amended Revolving Facility (Note 10). The purchase price was subject to adjustments based on a determination of closing net working capital. Dynamic Controls brings strong leadership and a very experienced electronics and software engineering design team, providing market leading electronic control solutions and products that will further strengthen the Company’s medical market position, as well as enable it to further develop higher level solutions with embedded electronics across our other major served markets. The Company incurred $177 and $424 of transaction costs related to the acquisition of Dynamic Controls in the three and six months ended June 30, 2020, which are included in business development expenses on the condensed consolidated statements of income and comprehensive income. The Company accounted for the acquisition pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, “Business Combinations.” The preliminary allocation of the purchase price paid for Dynamic Controls is based on estimated fair values of the assets acquired and liabilities assumed of Dynamic Controls as of March 7, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ Cash and cash equivalents $ 11,437 Accounts receivable ​ ​ 4,129 Inventory ​ ​ 3,329 Other assets, net ​ 769 Property, plant and equipment ​ 1,185 Right of use assets ​ ​ 2,735 Intangible assets ​ ​ 7,800 Goodwill ​ 6,552 Current liabilities ​ ​ (7,277) Lease liabilities ​ ​ (2,739) Net deferred income tax liabilities ​ ​ (1,755) Net purchase price ​ $ 26,165 ​ During the three months ended June 30, 2020, measurement period adjustments primarily related to deferred income taxes and the true-up of closing net working capital were recognized, which resulted in a reduction of goodwill by $268. The allocation of the purchase price is preliminary as the valuation of both the tangible and identifiable intangible assets and liabilities is being finalized. The intangible assets acquired consist of customer lists, technology and a trade name, which are being amortized over 16, 13 and 18 years , respectively. Goodwill generated in the acquisition is related to the assembled workforce, synergies between Allied Motion’s other operations and Dynamic Controls that are expected to occur as a result of the combined engineering knowledge, the ability of each of the operations to integrate each other’s products into more fully integrated system solutions and Allied Motion’s ability to utilize Dynamic Controls’ management knowledge in providing complementary product offerings to the Company’s customers. The operating results of this acquisition are included in our condensed consolidated financial statements beginning on the date of the acquisition. Included within the condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2020, revenues related to Dynamic Controls were $9,913 and $12,415 respectively, and earnings related to the operations of Dynamic Controls were $1,048 and $1,172 respectively. Unaudited pro forma revenues, assuming the acquisition occurred on January 1, 2019, would have been $99,997 for the three months ended June 30, 2019 and $184,205 and $201,914 for the six months ended June 30, 2020 and 2019, respectively. Pro forma earnings and diluted earnings per share would have been $734, or $0.08 per share, lower than actual reported results in the three months ended June 30, 2019 and $956, or $0.10 per share, lower than actual reported results in the six months ended June 30, 2019. Pro forma earnings and diluted earnings per share for the six months ended June 30, 2020 would have been $654, or $0.07 per share, higher than actual reported results. The pro forma information includes certain adjustments, including depreciation and amortization expense, interest expense, and certain other adjustments, together with related income tax effects. The pro forma amounts do not reflect adjustments for anticipated operating efficiencies that the Company expects to achieve as a result of this acquisition. The pro forma financial information is for informational purposes only and does not purport to present what the Company’s results would have been had these transactions actually occurred on the date presented or to project the combined company’s results of operations or financial position for any future period. The goodwill resulting from the Dynamic Controls acquisition is not tax deductible.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2020
REVENUE RECOGNITION
REVENUE RECOGNITION	3. REVENUE RECOGNITION Performance Obligations Performance Obligations Satisfied at a Point in Time The Company considers control of most products to transfer at a single point in time when control is transferred to the customer, generally when the products are shipped in accordance with an agreement and/or purchase order. Control is defined as the ability to direct the use of and obtain substantially all of the remaining benefits of the product. The Company satisfies its performance obligations under a contract with a customer by transferring goods and services in exchange for monetary consideration from the customer. The Company considers the customer’s purchase order, and the Company’s corresponding sales order acknowledgment as the contract with the customer. For some customers, control, and a sale, is transferred at a point in time when the product is delivered to a customer. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Nature of Goods and Services The Company sells component and integrated controlled motion solutions to end customers and original equipment manufacturers (“OEM’s”) through the Company’s own direct sales force and authorized manufacturers’ representatives and distributors. The Company’s products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active and passive filters for power quality and harmonic issues, and other controlled motion-related products. The Company’s target markets include Vehicle, Medical, Aerospace & Defense and Determining the Transaction Price The majority of the Company’s contracts have an original duration of less than one year. For these contracts, the Company applies the practical expedient and therefore does not consider the effects of the time value of money. For multiyear contracts, the Company uses judgment to determine whether there is a significant financing component. These contracts are generally those in which the customer has made an up-front payment. Contracts that management determines to include a significant financing component are discounted at the Company’s incremental borrowing rate. The Company incurs interest expense and accrues a contract liability. As the Company satisfies performance obligations and recognizes revenue from these contracts, interest expense is recognized simultaneously. Management does not have any contracts that include a significant financing component as of June 30, 2020. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers into geographical regions and target markets. The Company determines that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. As noted in the Segment Information footnote, the Company’s business consists of one reportable segment. The foreign revenues by geography in the table below are revenues derived from the Company's foreign subsidiaries as provided in Note 18. ​ A reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions is provided in Note 18 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ Target Market 2020 2019 2020 2019 ​ Vehicle ​ $ 18,584 ​ $ 30,778 ​ $ 46,639 ​ $ 64,374 ​ Industrial ​ 28,223 ​ 32,194 ​ 61,574 ​ 63,505 ​ Medical ​ 24,261 ​ 12,219 ​ 38,812 ​ 24,629 ​ Aerospace & Defense ​ 10,516 ​ 12,143 ​ 21,658 ​ 23,397 ​ Other ​ 5,077 ​ 5,296 ​ 10,360 ​ 10,621 ​ Total ​ $ 86,661 ​ $ 92,630 ​ $ 179,043 ​ $ 186,526 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ Geography 2020 2019 2020 2019 ​ United States ​ $ 47,311 ​ $ 62,645 ​ $ 103,680 ​ $ 121,957 ​ Europe ​ 29,012 ​ 29,390 ​ 62,145 ​ 63,561 ​ Other ​ 10,338 ​ 595 ​ 13,218 ​ 1,008 ​ Total ​ $ 86,661 ​ $ 92,630 ​ $ 179,043 ​ $ 186,526 ​ ​ Contract Balances When the timing of the Company’s delivery of product is different from the timing of the payments made by customers, the Company recognizes either a contract asset (performance precedes customer payment) or a contract liability (customer payment precedes performance). Typically, contracts are paid in arrears and are recognized as receivables after the Company considers whether a significant financing component exists. The opening and closing balances of the Company’s contract liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2020 ​ 2019 Contract liabilities in accrued liabilities ​ $ 344 ​ $ 454 Contract liabilities in other long-term liabilities ​ ​ 284 ​ ​ — ​ ​ $ 628 ​ $ 454 ​ The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. Significant Payment Terms The Company’s contracts with its customers state the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payments are typically due in full within 30-60 days of delivery. Since the customer agrees to a stated rate and price in the contract that do not vary over the contract, the majority of contracts do not contain variable consideration. Returns, Refunds, and Warranties In the normal course of business, the Company does not accept product returns unless the item is defective as manufactured. The Company establishes provisions for estimated returns and warranties. All contracts include a standard warranty clause to guarantee that the product complies with agreed specifications.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2020
INVENTORIES
INVENTORIES	4. INVENTORIES Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ ​ 2020 ​ 2019 ​ Parts and raw materials ​ $ 42,886 ​ $ 35,849 ​ Work-in-process ​ 7,107 ​ 6,951 ​ Finished goods ​ 11,460 ​ 10,585 ​ ​ ​ ​ 61,453 ​ ​ 53,385 ​ ​

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is classified as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2020 ​ 2019 Land ​ $ 976 ​ $ 977 Building and improvements 13,604 ​ 13,366 Machinery, equipment, tools and dies 77,565 ​ 73,894 Furniture, fixtures and other 16,832 ​ 15,797 ​ ​ 108,977 ​ 104,034 Less accumulated depreciation ​ (55,512) ​ (51,026) Property, plant and equipment, net ​ $ 53,465 ​ $ 53,008 ​ Depreciation expense was approximately $2,394 and $2,238 for the quarters ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, depreciation expense was $4,703 and $4,465, respectively.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2020
GOODWILL
GOODWILL	6. GOODWILL The change in the carrying amount of goodwill for the six months ended is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 52,935 ​ Goodwill acquired (Note 2) ​ 6,552 ​ Effect of foreign currency translation ​ 14 ​ Ending balance ​ $ 59,501 ​ ​

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2020
INTANGIBLE ASSETS
INTANGIBLE ASSETS	7. INTANGIBLE ASSETS Intangible assets on the Company’s condensed consolidated balance sheets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Gross Accumulated Net Book Gross Accumulated Net Book ​ ​ Life ​ Amount ​ amortization ​ Value ​ Amount ​ amortization ​ Value Customer lists 8 - 17 years ​ $ 68,698 ​ $ (21,315) ​ $ 47,383 ​ $ 64,314 ​ $ (19,311) ​ $ 45,003 Trade name 10 - 19 years ​ 13,733 ​ (4,549) ​ 9,184 ​ 12,222 ​ (4,114) ​ 8,108 Design and technologies 10 - 15 years ​ 14,836 ​ (4,037) ​ 10,799 ​ 12,927 ​ (3,554) ​ 9,373 Patents ​ 17 years ​ 24 ​ (12) ​ 12 ​ 24 ​ (11) ​ 13 Total ​ ​ ​ $ 97,291 ​ $ (29,913) ​ $ 67,378 ​ $ 89,487 ​ $ (26,990) ​ $ 62,497 ​ Intangible assets resulting from the acquisition of Dynamic Controls were $7,800 (Note 2). The intangible assets acquired consist of a customer list, a trade name and technology. Amortization expense for intangible assets was $1,483 and $1,430 for the quarters ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, amortization expense was Estimated future intangible asset amortization expense as of June 30, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Estimated ​ Amortization Expense Remainder of 2020 ​ $ 2,976 2021 ​ 5,945 2022 ​ 5,990 2023 ​ ​ 5,996 2024 ​ 5,670 Thereafter ​ 40,801 Total estimated amortization expense ​ $ 67,378 ​

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	8. STOCK-BASED COMPENSATION Stock Incentive Plans The Company’s Stock Incentive Plans provide for the granting of stock awards, including restricted stock, stock options and stock appreciation rights, to employees and non-employees, including directors of the Company. Restricted Stock For the quarter ended June 30, 2020, 146,437 shares of unvested restricted stock were awarded at a weighted average market value of $32.92 . Of the restricted shares granted, shares have performance-based vesting conditions. The value of the shares is amortized to compensation expense over the related service period, which is normally , or over the estimated performance period. Shares of unvested restricted stock are generally forfeited if a recipient leaves the Company before the vesting date. Shares that are forfeited become available for future awards. The following is a summary of restricted stock activity for the six-months ended June 30, 2020: ​ ​ ​ ​ ​ ​ Number of ​ shares Outstanding at beginning of period 186,702 Awarded 146,437 Vested (88,128) Forfeited (1,811) Outstanding at end of period 243,200 ​ Stock based compensation expense, net of forfeitures, of $931 and $866 was recorded for the quarters ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, Stock based compensation expense, net of forfeitures, of $1,720 and $1,540 was recorded, respectively.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2020
ACCRUED LIABILITIES
ACCRUED LIABILITIES	9. ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Compensation and fringe benefits ​ $ 9,588 ​ $ 12,967 Warranty reserve ​ 1,508 ​ 1,075 Income taxes payable ​ ​ 2,852 ​ ​ 2,231 Right of use liabilities ​ ​ 4,016 ​ ​ 3,203 Other accrued expenses ​ 4,246 ​ 3,525 ​ ​ $ 22,210 ​ $ 23,001 ​

DEBT OBLIGATIONS

DEBT OBLIGATIONS	6 Months Ended
	Jun. 30, 2020
DEBT OBLIGATIONS
DEBT OBLIGATIONS	10. DEBT OBLIGATIONS Debt obligations consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Long-term Debt ​ ​ ​ ​ ​ ​ Revolving Credit Facility, long-term (1) ​ $ 129,099 ​ $ 110,085 Unamortized debt issuance costs ​ ​ (647) ​ ​ (320) Long-term debt ​ $ 128,452 ​ $ 109,765 (1) The effective rate of the Revolver is 2.34% at June 30, 2020. Amended Revolving Credit Facility On February 12, 2020, the Company entered into a First Amended and Restated Credit Agreement (the “Amended Credit Agreement”) for a $225 million revolving credit facility (the “Amended Revolving Facility”). The significant changes made to the Company’s prior credit facility by the Amended Credit Agreement include (i) increasing the maximum principal amount from million accordion amount, (iii) decreasing certain interest-rate margins and fees, and (iv) extending the term to February 2025 from the original term of October 2021. HSBC Bank USA, National Association is the administrative agent, and HSBC Securities (USA) Inc., KeyBank N.A, Wells Fargo Bank, N.A and Citizens Bank, N.A. are joint lead arrangers. Borrowings under the Amended Revolving Facility bear interest at the LIBOR Rate (as defined in the Amended Credit Agreement) plus a margin of 1.00% to 1.75% or the Prime Rate (as defined in the Amended Credit Agreement) plus a margin of 0% to 0.75%, in each case depending on the Company’s ratio of total funded indebtedness (as defined in the Amended Credit Agreement) to Consolidated trailing twelve-month EBITDA (the “Total Leverage Ratio”). At June 30, 2020, the applicable margin for LIBOR Rate borrowings was %) on the unused portion of the Amended Revolving Facility, also based on the Company’s Total Leverage Ratio. The Amended Revolving Facility is secured by substantially all of the Company’s non-realty assets and is fully and unconditionally guaranteed by certain of the Company’s subsidiaries. The Amended Credit Agreement contains certain financial covenants related to minimum interest coverage and total leverage ratio at the end of each quarter. The Amended Credit Agreement also includes other covenants and restrictions, including limits on the amount of additional indebtedness, and restrictions on the Company’s ability to merge or sell all or substantially all of its assets. The Company was in compliance with all covenants at June 30, 2020. As of June 30, 2020, the unused Amended Revolving Facility was $95,901 . The amount available to borrow may be reduced based upon our debt and EBITDA levels, which impacts our covenant calculations. Other The China Credit Facility provides credit of $1,414 (Chinese Renminbi 10,000 ) (“the China Facility”). The China Facility is a demand revolving facility used for working capital and capital equipment needs at the Company’s China operations. The term is annual and may be cancelled at the bank’s discretion. The interest rate is

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	11. DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, and foreign exchange risk primarily through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to the Company’s borrowings. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In February 2017, the Company entered into The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated Other Comprehensive Income (Loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During 2020 and 2019, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. The Company estimates that an additional $891 will be reclassified as an increase to interest expense over the next twelve months. Additionally, the Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Derivatives ​ ​ ​ Liability Derivatives ​ ​ ​ ​ ​ Fair value as of: ​ ​ ​ Fair value as of: ​ Derivatives designated as ​ Balance Sheet ​ June 30, ​ December 31, ​ Balance Sheet ​ June 30, ​ December 31, ​ hedging instruments Location 2020 2019 Location 2020 2019 Interest rate products ​ Other long-term assets ​ $ — ​ $ — ​ Other long-term liabilities ​ $ 2,228 ​ $ 363 ​ ​ The tables below present the effect of cash flow hedge accounting on other comprehensive income (loss) (“OCI”) for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in OCI ​ Amount of gain (loss) recognized in OCI ​ ​ ​ on derivatives ​ on derivative ​ Derivatives in cash flow hedging relationships ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2020 2019 2020 2019 Interest rate products ​ $ (448) ​ $ (387) ​ $ (1,560) ​ $ (597) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from ​ Amount of gain (loss) reclassified from ​ ​ ​ accumulated OCI into income ​ accumulated OCI into income ​ Location of (gain) loss reclassified ​ Three months ended June 30, ​ Six months ended June 30, ​ from accumulated OCI into income ​ 2020 ​ 2019 2020 2019 ​ Interest income (expense) ​ $ (155) ​ $ 49 ​ $ (186) ​ $ 101 ​ ​ The table below presents the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of income and expense ​ Total amounts of income and expense ​ ​ ​ ​ ​ line items presented that reflect the ​ line items presented that reflect the ​ ​ ​ ​ ​ effects of cash flow hedges recorded ​ effects of cash flow hedges recorded ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ Derivatives designated as hedging instruments Income Statement Location 2020 2019 2020 2019 Interest rate products Interest Expense ​ $ 901 ​ $ 1,435 ​ $ 1,955 ​ $ 2,615 ​ ​ The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2020 and December 31, 2019. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented in the condensed consolidated balance sheets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts ​ Net amounts of liabilities ​ Gross amounts not offset in the condensed consolidated As of ​ Gross amounts ​ offset in the ​ presented in the ​ balance sheets June 30, ​ of recognized ​ condensed consolidated ​ condensed consolidated ​ Financial ​ Cash collateral ​ ​ ​ 2020 liabilities balance sheets balance sheets instruments received Net amount Derivatives ​ $ 2,228 ​ $ — ​ $ 2,228 ​ $ — ​ $ — ​ $ 2,228 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts ​ Net amounts of liabilities ​ Gross amounts not offset in the condensed consolidated As of ​ Gross amounts ​ offset in the ​ presented in the ​ balance sheets December 31, ​ of recognized ​ condensed consolidated ​ condensed consolidated ​ Financial ​ Cash collateral ​ ​ ​ 2019 liabilities balance sheets balance sheets instruments received Net amount Derivatives ​ $ 363 ​ $ — ​ $ 363 ​ $ — ​ $ — ​ $ 363 ​ The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2020
FAIR VALUE
FAIR VALUE	12. FAIR VALUE Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a framework for measuring fair value which utilizes observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. Preference is given to observable inputs. These two types of inputs create the following three - level fair value hierarchy: Level 1: Quoted prices for identical assets or liabilities in active markets. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model - derived valuations whose inputs or significant value drivers are observable. Level 3: Significant inputs to the valuation model that are unobservable. The Company’s financial assets and liabilities include cash and cash equivalents, accounts receivable, debt obligations, accounts payable, and accrued liabilities. The carrying amounts reported in the condensed consolidated balance sheets for these assets approximate fair value because of the immediate or short-term maturities of these financial instruments. The following tables presents the Company’s financial assets that are accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, respectively, by level within the fair value hierarchy (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Level 1 Level 2 Level 3 Assets (liabilities) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension plan assets ​ $ 5,598 ​ $ — ​ $ — Other long-term assets ​ 4,411 ​ — ​ — Interest rate swaps ​ — ​ (2,228) ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Level 1 Level 2 Level 3 Assets (liabilities) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension plan assets ​ $ 6,099 ​ $ — ​ $ — Other long-term assets ​ 4,690 ​ — ​ — Interest rate swaps ​ — ​ (363) ​ — ​

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
INCOME TAXES
INCOME TAXES	13. INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws, settlements with taxing authorities and foreign currency fluctuations. The effective income tax rate as a percentage of income before income taxes was 29.9% and 28.0% in the second quarter 2020 and 2019, respectively. The effective tax rate includes a discrete tax provision of 1.7% and tax benefit of (0.5%) for the second quarters of 2020 and 2019 respectively, related primarily to the recognition of excess tax provision and benefit for share-based payment awards. For the six months ended June 30, 2020 and 2019, the effective income tax rate as a percentage of income before income taxes was 28.8% and 27.7%, respectively. For the six months ended June 30, 2020 and 2019 the effective tax rate includes a discrete tax provision of 0.9% and benefit of (1.1%), respectively, related primarily to the recognition of excess tax provision and benefit for share-based payment awards. The effective rate before discrete items varies from the statutory rate primarily due to differences in state taxes, the impact of international tax provisions in the US, the difference in foreign tax rates and the mix of foreign and domestic income. The increase in the effective income tax rate as a percentage of income before income taxes from second quarter 2019 to 2020 is a result of limited deductibility of executive compensation and the recognition of excess tax provision for share-based awards. In July 2020, U.S. Department of Treasury released Final and Proposed Regulations related to the treatment of income that is subject to high rate of foreign tax under the global intangible low-taxed income (GILTI) and Subpart F income regimes. These provisions would be effective for the Company starting in 2021, but includes retroactive provisions that may allow for early adoption. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. ​

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
LEASES
LEASES	14. LEASES The Company has operating leases for office space, manufacturing equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases Short term and variable lease expense were not material in any of the periods presented. ​ Supplemental cash flow information related to the Company’s operating leases for the six month period ended June 30, 2020 and 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ ​ June 30, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of operating leases $ 2,126 $ 2,069 ROU assets obtained in exchange for operating lease obligations ​ $ 1,797 ​ $ 185 ​ ROU assets recorded upon adoption of ASC 842 ​ $ — ​ $ 20,344 ​ ROU assets obtained in acquisitions (Note 2) ​ $ 2,735 ​ $ — ​ ​ ​ The following table presents the maturity of the Company’s operating lease liabilities as of June 30, 2020 (in thousands): ​ ​ ​ ​ ​ 2020 $ 2,324 2021 ​ 4,181 2022 ​ 3,372 2023 ​ 2,688 2024 ​ 2,178 2025 ​ ​ 2,051 Thereafter ​ 4,413 Total undiscounted cash flows ​ $ 21,207 Less: present value discount ​ ​ (1,720) Total lease liabilities ​ $ 19,487 ​ As of June 30, 2020, the Company had no additional significant operating or finance leases that had not yet commenced.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	15. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated Other Comprehensive Income (Loss) (“AOCI”) for the quarters ended June 30, 2020 and 2019 is comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At March 31, 2020 ​ $ (1,628) ​ $ (1,365) ​ $ (11,054) ​ $ (14,047) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (588) ​ ​ — ​ ​ (588) Amounts reclassified from AOCI ​ ​ — ​ ​ 155 ​ ​ — ​ ​ 155 Tax effect of cash flow hedges ​ ​ — ​ ​ 104 ​ ​ — ​ ​ 104 Foreign currency translation gain ​ ​ — ​ ​ — ​ ​ 1,932 ​ ​ 1,932 At June 30, 2020 ​ $ (1,628) ​ $ (1,694) ​ $ (9,122) ​ $ (12,444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At March 31, 2019 ​ $ (1,006) ​ $ 172 ​ $ (8,833) ​ $ (9,667) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (515) ​ ​ — ​ ​ (515) Amounts reclassified from AOCI ​ ​ — ​ ​ (49) ​ ​ — ​ ​ (49) Tax effect of cash flow hedges ​ ​ — ​ ​ 128 ​ ​ — ​ ​ 128 Foreign currency translation gain ​ ​ — ​ ​ — ​ ​ 548 ​ ​ 548 At June 30, 2019 ​ $ (1,006) ​ $ (264) ​ $ (8,285) ​ $ (9,555) ​ AOCI for the six months ended June 30, 2020 and 2019 is comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At December 31, 2019 ​ $ (1,628) ​ $ (277) ​ $ (8,626) ​ $ (10,531) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (2,051) ​ ​ — ​ ​ (2,051) Amounts reclassified from AOCI ​ ​ — ​ ​ 186 ​ ​ — ​ ​ 186 Tax effect of cash flow hedges ​ ​ — ​ ​ 448 ​ ​ — ​ ​ 448 Foreign currency translation loss ​ ​ — ​ ​ — ​ ​ (496) ​ ​ (496) At June 30, 2020 ​ $ (1,628) ​ $ (1,694) ​ $ (9,122) ​ $ (12,444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At December 31, 2018 ​ $ (1,006) ​ $ 434 ​ $ (7,946) ​ $ (8,518) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (806) ​ ​ — ​ ​ (806) Amounts reclassified from AOCI ​ ​ — ​ ​ (101) ​ ​ — ​ ​ (101) Tax effect of cash flow hedges ​ ​ — ​ ​ 209 ​ ​ — ​ ​ 209 Foreign currency translation loss ​ ​ — ​ ​ — ​ ​ (339) ​ ​ (339) At June 30, 2019 ​ $ (1,006) ​ $ (264) ​ $ (8,285) ​ $ (9,555) ​ The realized losses relating to the Company’s interest rate swap hedges were reclassified from accumulated other comprehensive income (loss) and included in interest expense in the condensed consolidated statements of income and comprehensive income.

DIVIDENDS PER SHARE

DIVIDENDS PER SHARE	6 Months Ended
	Jun. 30, 2019
DIVIDENDS PER SHARE
DIVIDENDS PER SHARE	16. DIVIDENDS PER SHARE The Company declared a quarterly dividend of $0.03 per share in each of the first and second quarters of 2020 and 2019. Total dividends declared were $582 and $575 in the six months ended June 30, 2020 and 2019, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	17. EARNINGS PER SHARE Basic and diluted weighted-average shares outstanding are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2020 2019 2020 2019 Basic weighted average shares outstanding 9,509 9,408 9,474 9,378 Dilutive effect of equity awards 27 48 44 41 Diluted weighted average shares outstanding 9,536 9,456 9,518 9,419 ​ For the three and six months ended June 30, 2020 and 2019, the anti-dilutive common shares excluded from the calculation of diluted earnings per share were immaterial.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2020
SEGMENT INFORMATION
SEGMENT INFORMATION	18. SEGMENT INFORMATION The Company operates in one segment for the manufacture and marketing of controlled motion products for original equipment manufacturers and end user applications. The Company’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services in which the entity holds material assets and reports revenue. Financial information related to the foreign subsidiaries is summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2020 2019 2020 2019 Revenues derived from foreign subsidiaries ​ $ 39,350 ​ $ 29,985 ​ $ 75,363 ​ $ 64,567 ​ ​ Identifiable foreign assets were $121,801 and $95,777 as of June 30, 2020 and December 31, 2019, respectively. Revenues derived from foreign subsidiaries and identifiable assets outside of the United States are primarily attributable to Europe. Sales to customers outside of the United States by all subsidiaries were $43,372 and $38,802 during the quarters ended June 30, 2020 and 2019, respectively, and $86,762 and $82,485 for the six months ended June 30, 2020 and 2019, respectively. For second quarter 2020 and 2019, one customer accounted for 11% and 15% of revenues, respectively, and for the six months ended June 30, 2020 and 2019 for 12% and 16% of revenues, respectively. As of June 30, 2020 and December 31, 2019 this customer represented

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2020
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	19. RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted accounting pronouncements In June 2016, FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) between Level 1 and Level 2 or assets or liabilities measured at fair value under Level 3. The Company adopted this ASU on January 1, 2020 on a prospective basis and the adoption did not have a material impact on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This guidance provides relief for impacted areas as it relates to impending reference rate reform and contains optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other areas or transactions, subject to meeting certain criteria, that are impacted by reference rate reform. This ASU is effective upon issuance for all entities and elections of certain optional expedients are required to apply the provisions of the guidance. The Company adopted this ASU effective January 1, 2020 on a prospective basis, and the Company has elected the expedients related to the probability of hedged interest payments, regardless of any expected future modification in terms related to reference rate reform, as well as the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Should the Company elect further optional expedients as it relates to reference rate reform, disclosure of those elections will be done in the fiscal period in which the elections are made. The adoption did not have a material impact on its condensed consolidated financial statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2020
Dynamic Controls
ACQUISITIONS
Schedule of purchase price allocation and estimated fair value of the assets acquired	The preliminary allocation of the purchase price paid for Dynamic Controls is based on estimated fair values of the assets acquired and liabilities assumed of Dynamic Controls as of March 7, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ Cash and cash equivalents $ 11,437 Accounts receivable ​ ​ 4,129 Inventory ​ ​ 3,329 Other assets, net ​ 769 Property, plant and equipment ​ 1,185 Right of use assets ​ ​ 2,735 Intangible assets ​ ​ 7,800 Goodwill ​ 6,552 Current liabilities ​ ​ (7,277) Lease liabilities ​ ​ (2,739) Net deferred income tax liabilities ​ ​ (1,755) Net purchase price ​ $ 26,165

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2020
REVENUE RECOGNITION
Schedule of reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions	A reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions is provided in Note 18 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ Target Market 2020 2019 2020 2019 ​ Vehicle ​ $ 18,584 ​ $ 30,778 ​ $ 46,639 ​ $ 64,374 ​ Industrial ​ 28,223 ​ 32,194 ​ 61,574 ​ 63,505 ​ Medical ​ 24,261 ​ 12,219 ​ 38,812 ​ 24,629 ​ Aerospace & Defense ​ 10,516 ​ 12,143 ​ 21,658 ​ 23,397 ​ Other ​ 5,077 ​ 5,296 ​ 10,360 ​ 10,621 ​ Total ​ $ 86,661 ​ $ 92,630 ​ $ 179,043 ​ $ 186,526 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ Geography 2020 2019 2020 2019 ​ United States ​ $ 47,311 ​ $ 62,645 ​ $ 103,680 ​ $ 121,957 ​ Europe ​ 29,012 ​ 29,390 ​ 62,145 ​ 63,561 ​ Other ​ 10,338 ​ 595 ​ 13,218 ​ 1,008 ​ Total ​ $ 86,661 ​ $ 92,630 ​ $ 179,043 ​ $ 186,526 ​
Schedule of opening and closing balances of the Company's receivables, contract asset, and contract liability	The opening and closing balances of the Company’s contract liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2020 ​ 2019 Contract liabilities in accrued liabilities ​ $ 344 ​ $ 454 Contract liabilities in other long-term liabilities ​ ​ 284 ​ ​ — ​ ​ $ 628 ​ $ 454

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2020
INVENTORIES
Schedule of inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value	Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ ​ 2020 ​ 2019 ​ Parts and raw materials ​ $ 42,886 ​ $ 35,849 ​ Work-in-process ​ 7,107 ​ 6,951 ​ Finished goods ​ 11,460 ​ 10,585 ​ ​ ​ ​ 61,453 ​ ​ 53,385 ​

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT
Schedule of classification of property, plant and equipment	Property, plant and equipment is classified as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2020 ​ 2019 Land ​ $ 976 ​ $ 977 Building and improvements 13,604 ​ 13,366 Machinery, equipment, tools and dies 77,565 ​ 73,894 Furniture, fixtures and other 16,832 ​ 15,797 ​ ​ 108,977 ​ 104,034 Less accumulated depreciation ​ (55,512) ​ (51,026) Property, plant and equipment, net ​ $ 53,465 ​ $ 53,008 ​

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2020
GOODWILL
Schedule of change in the carrying amount of goodwill	The change in the carrying amount of goodwill for the six months ended is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 52,935 ​ Goodwill acquired (Note 2) ​ 6,552 ​ Effect of foreign currency translation ​ 14 ​ Ending balance ​ $ 59,501 ​

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2020
INTANGIBLE ASSETS
Schedule of intangible assets	Intangible assets on the Company’s condensed consolidated balance sheets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Gross Accumulated Net Book Gross Accumulated Net Book ​ ​ Life ​ Amount ​ amortization ​ Value ​ Amount ​ amortization ​ Value Customer lists 8 - 17 years ​ $ 68,698 ​ $ (21,315) ​ $ 47,383 ​ $ 64,314 ​ $ (19,311) ​ $ 45,003 Trade name 10 - 19 years ​ 13,733 ​ (4,549) ​ 9,184 ​ 12,222 ​ (4,114) ​ 8,108 Design and technologies 10 - 15 years ​ 14,836 ​ (4,037) ​ 10,799 ​ 12,927 ​ (3,554) ​ 9,373 Patents ​ 17 years ​ 24 ​ (12) ​ 12 ​ 24 ​ (11) ​ 13 Total ​ ​ ​ $ 97,291 ​ $ (29,913) ​ $ 67,378 ​ $ 89,487 ​ $ (26,990) ​ $ 62,497 ​
Schedule of estimated amortization expense for intangible assets	Estimated future intangible asset amortization expense as of June 30, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Estimated ​ Amortization Expense Remainder of 2020 ​ $ 2,976 2021 ​ 5,945 2022 ​ 5,990 2023 ​ ​ 5,996 2024 ​ 5,670 Thereafter ​ 40,801 Total estimated amortization expense ​ $ 67,378

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
STOCK-BASED COMPENSATION
Summary of restricted stock activity	The following is a summary of restricted stock activity for the six-months ended June 30, 2020: ​ ​ ​ ​ ​ ​ Number of ​ shares Outstanding at beginning of period 186,702 Awarded 146,437 Vested (88,128) Forfeited (1,811) Outstanding at end of period 243,200 ​

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
ACCRUED LIABILITIES
Schedule of accrued liabilities	Accrued liabilities consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Compensation and fringe benefits ​ $ 9,588 ​ $ 12,967 Warranty reserve ​ 1,508 ​ 1,075 Income taxes payable ​ ​ 2,852 ​ ​ 2,231 Right of use liabilities ​ ​ 4,016 ​ ​ 3,203 Other accrued expenses ​ 4,246 ​ 3,525 ​ ​ $ 22,210 ​ $ 23,001

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2020
DEBT OBLIGATIONS
Schedule of debt obligations	Debt obligations consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 2019 Long-term Debt ​ ​ ​ ​ ​ ​ Revolving Credit Facility, long-term (1) ​ $ 129,099 ​ $ 110,085 Unamortized debt issuance costs ​ ​ (647) ​ ​ (320) Long-term debt ​ $ 128,452 ​ $ 109,765 (1) The effective rate of the Revolver is 2.34% at June 30, 2020.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of fair value of the Company's derivative financial instruments as well as classification on the condensed consolidated balance sheets	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Derivatives ​ ​ ​ Liability Derivatives ​ ​ ​ ​ ​ Fair value as of: ​ ​ ​ Fair value as of: ​ Derivatives designated as ​ Balance Sheet ​ June 30, ​ December 31, ​ Balance Sheet ​ June 30, ​ December 31, ​ hedging instruments Location 2020 2019 Location 2020 2019 Interest rate products ​ Other long-term assets ​ $ — ​ $ — ​ Other long-term liabilities ​ $ 2,228 ​ $ 363 ​ ​
Schedule of effect of cash flow hedge accounting on other comprehensive income (loss) (OCI)	The tables below present the effect of cash flow hedge accounting on other comprehensive income (loss) (“OCI”) for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in OCI ​ Amount of gain (loss) recognized in OCI ​ ​ ​ on derivatives ​ on derivative ​ Derivatives in cash flow hedging relationships ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2020 2019 2020 2019 Interest rate products ​ $ (448) ​ $ (387) ​ $ (1,560) ​ $ (597) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from ​ Amount of gain (loss) reclassified from ​ ​ ​ accumulated OCI into income ​ accumulated OCI into income ​ Location of (gain) loss reclassified ​ Three months ended June 30, ​ Six months ended June 30, ​ from accumulated OCI into income ​ 2020 ​ 2019 2020 2019 ​ Interest income (expense) ​ $ (155) ​ $ 49 ​ $ (186) ​ $ 101 ​
Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statements of income and comprehensive income	The table below presents the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of income and expense ​ Total amounts of income and expense ​ ​ ​ ​ ​ line items presented that reflect the ​ line items presented that reflect the ​ ​ ​ ​ ​ effects of cash flow hedges recorded ​ effects of cash flow hedges recorded ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ Derivatives designated as hedging instruments Income Statement Location 2020 2019 2020 2019 Interest rate products Interest Expense ​ $ 901 ​ $ 1,435 ​ $ 1,955 ​ $ 2,615 ​
Schedule of fair value provides the location that derivative assets and liabilities	The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented in the condensed consolidated balance sheets (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts ​ Net amounts of liabilities ​ Gross amounts not offset in the condensed consolidated As of ​ Gross amounts ​ offset in the ​ presented in the ​ balance sheets June 30, ​ of recognized ​ condensed consolidated ​ condensed consolidated ​ Financial ​ Cash collateral ​ ​ ​ 2020 liabilities balance sheets balance sheets instruments received Net amount Derivatives ​ $ 2,228 ​ $ — ​ $ 2,228 ​ $ — ​ $ — ​ $ 2,228 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts ​ Net amounts of liabilities ​ Gross amounts not offset in the condensed consolidated As of ​ Gross amounts ​ offset in the ​ presented in the ​ balance sheets December 31, ​ of recognized ​ condensed consolidated ​ condensed consolidated ​ Financial ​ Cash collateral ​ ​ ​ 2019 liabilities balance sheets balance sheets instruments received Net amount Derivatives ​ $ 363 ​ $ — ​ $ 363 ​ $ — ​ $ — ​ $ 363

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2020
FAIR VALUE
Schedule of financial assets that are accounted for at fair value on a recurring basis	The following tables presents the Company’s financial assets that are accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, respectively, by level within the fair value hierarchy (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Level 1 Level 2 Level 3 Assets (liabilities) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension plan assets ​ $ 5,598 ​ $ — ​ $ — Other long-term assets ​ 4,411 ​ — ​ — Interest rate swaps ​ — ​ (2,228) ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Level 1 Level 2 Level 3 Assets (liabilities) ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension plan assets ​ $ 6,099 ​ $ — ​ $ — Other long-term assets ​ 4,690 ​ — ​ — Interest rate swaps ​ — ​ (363) ​ —

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
LEASES
Schedule of supplemental cash flow information related to the operating leases	Supplemental cash flow information related to the Company’s operating leases for the six month period ended June 30, 2020 and 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ ​ June 30, ​ ​ ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of operating leases $ 2,126 $ 2,069 ROU assets obtained in exchange for operating lease obligations ​ $ 1,797 ​ $ 185 ​ ROU assets recorded upon adoption of ASC 842 ​ $ — ​ $ 20,344 ​ ROU assets obtained in acquisitions (Note 2) ​ $ 2,735 ​ $ — ​
Schedule of maturity of the operating lease liabilities	The following table presents the maturity of the Company’s operating lease liabilities as of June 30, 2020 (in thousands): ​ ​ ​ ​ ​ 2020 $ 2,324 2021 ​ 4,181 2022 ​ 3,372 2023 ​ 2,688 2024 ​ 2,178 2025 ​ ​ 2,051 Thereafter ​ 4,413 Total undiscounted cash flows ​ $ 21,207 Less: present value discount ​ ​ (1,720) Total lease liabilities ​ $ 19,487

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of accumulated other comprehensive income (loss) ("AOCI")	Accumulated Other Comprehensive Income (Loss) (“AOCI”) for the quarters ended June 30, 2020 and 2019 is comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At March 31, 2020 ​ $ (1,628) ​ $ (1,365) ​ $ (11,054) ​ $ (14,047) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (588) ​ ​ — ​ ​ (588) Amounts reclassified from AOCI ​ ​ — ​ ​ 155 ​ ​ — ​ ​ 155 Tax effect of cash flow hedges ​ ​ — ​ ​ 104 ​ ​ — ​ ​ 104 Foreign currency translation gain ​ ​ — ​ ​ — ​ ​ 1,932 ​ ​ 1,932 At June 30, 2020 ​ $ (1,628) ​ $ (1,694) ​ $ (9,122) ​ $ (12,444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At March 31, 2019 ​ $ (1,006) ​ $ 172 ​ $ (8,833) ​ $ (9,667) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (515) ​ ​ — ​ ​ (515) Amounts reclassified from AOCI ​ ​ — ​ ​ (49) ​ ​ — ​ ​ (49) Tax effect of cash flow hedges ​ ​ — ​ ​ 128 ​ ​ — ​ ​ 128 Foreign currency translation gain ​ ​ — ​ ​ — ​ ​ 548 ​ ​ 548 At June 30, 2019 ​ $ (1,006) ​ $ (264) ​ $ (8,285) ​ $ (9,555) ​ AOCI for the six months ended June 30, 2020 and 2019 is comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At December 31, 2019 ​ $ (1,628) ​ $ (277) ​ $ (8,626) ​ $ (10,531) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (2,051) ​ ​ — ​ ​ (2,051) Amounts reclassified from AOCI ​ ​ — ​ ​ 186 ​ ​ — ​ ​ 186 Tax effect of cash flow hedges ​ ​ — ​ ​ 448 ​ ​ — ​ ​ 448 Foreign currency translation loss ​ ​ — ​ ​ — ​ ​ (496) ​ ​ (496) At June 30, 2020 ​ $ (1,628) ​ $ (1,694) ​ $ (9,122) ​ $ (12,444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Translation ​ ​ ​ ​ Plan Liability Cash Flow Hedges Adjustment Total At December 31, 2018 ​ $ (1,006) ​ $ 434 ​ $ (7,946) ​ $ (8,518) Unrealized loss on cash flow hedges ​ ​ — ​ ​ (806) ​ ​ — ​ ​ (806) Amounts reclassified from AOCI ​ ​ — ​ ​ (101) ​ ​ — ​ ​ (101) Tax effect of cash flow hedges ​ ​ — ​ ​ 209 ​ ​ — ​ ​ 209 Foreign currency translation loss ​ ​ — ​ ​ — ​ ​ (339) ​ ​ (339) At June 30, 2019 ​ $ (1,006) ​ $ (264) ​ $ (8,285) ​ $ (9,555) ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
EARNINGS PER SHARE
Schedule of basic and diluted weighted-average shares outstanding	Basic and diluted weighted-average shares outstanding are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2020 2019 2020 2019 Basic weighted average shares outstanding 9,509 9,408 9,474 9,378 Dilutive effect of equity awards 27 48 44 41 Diluted weighted average shares outstanding 9,536 9,456 9,518 9,419

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
SEGMENT INFORMATION
Schedule of revenue related to foreign subsidiaries	Financial information related to the foreign subsidiaries is summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2020 2019 2020 2019 Revenues derived from foreign subsidiaries ​ $ 39,350 ​ $ 29,985 ​ $ 75,363 ​ $ 64,567 ​ ​

ACQUISITION (Details)

ACQUISITION (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 07, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
ACQUISITIONS
Goodwill		$ 59,501		$ 59,501		$ 52,935
Revenues		86,661	$ 92,630	179,043	$ 186,526
Pro forma Condensed Combined Financial Information
Unaudited proforma revenues			99,997	184,205	201,914
Pro forma earnings			$ 734	$ 654	$ 956
Diluted earnings per share (in dollars per share)			$ 0.08	$ 0.07	$ 0.10
Dynamic Controls
ACQUISITIONS
Business acquisition percentage of voting interests acquired	100.00%
Transaction costs related to acquisition		177		$ 424
Cash and cash equivalents	$ 11,437
Accounts receivable	4,129
Inventory	3,329
Other assets, net	769
Property, plant and equipment	1,185
Right of use assets	2,735	2,735		2,735
Intangible assets	7,800	7,800		7,800
Goodwill	6,552
Current liabilities	(7,277)
Lease liabilities	(2,739)
Net deferred income tax liabilities	(1,755)
Net purchase price	$ 26,165
Reduction of Goodwill owing to measurement period adjustments		268
Revenues		9,913		12,415
Distributed Earnings		$ 1,048		$ 1,172
Dynamic Controls | Customer lists
ACQUISITIONS
Amortization period (in years)	16 years
Dynamic Controls | Technology
ACQUISITIONS
Amortization period (in years)	13 years
Dynamic Controls | Trade name
ACQUISITIONS
Amortization period (in years)	18 years

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Number of reportable segment | segment			1
Revenues	$ 86,661	$ 92,630	$ 179,043	$ 186,526
United States
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	47,311	62,645	103,680	121,957
Europe
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	29,012	29,390	62,145	63,561
Other
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	10,338	595	13,218	1,008
Vehicle
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	18,584	30,778	46,639	64,374
Industrial
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	28,223	32,194	61,574	63,505
Medical
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	24,261	12,219	38,812	24,629
Aerospace & Defense
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	10,516	12,143	21,658	23,397
Other
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	$ 5,077	$ 5,296	$ 10,360	$ 10,621

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
REVENUE RECOGNITION
Contract liabilities in accrued liabilities	$ 344	$ 454
Contract liabilities in other long-term liabilities	284
Contract liabilities	$ 628	$ 454

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
INVENTORIES
Parts and raw materials	$ 42,886	$ 35,849
Work-in-process	7,107	6,951
Finished goods	11,460	10,585
Inventories	$ 61,453	$ 53,385

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, plant and equipment
Property, plant and equipment, gross	$ 108,977		$ 108,977		$ 104,034
Less accumulated depreciation	(55,512)		(55,512)		(51,026)
Property, plant and equipment, net	53,465		53,465		53,008
Depreciation expense	2,394	$ 2,238	4,703	$ 4,465
Land
Property, plant and equipment
Property, plant and equipment, gross	976		976		977
Building and improvements
Property, plant and equipment
Property, plant and equipment, gross	13,604		13,604		13,366
Machinery, equipment, tools and dies
Property, plant and equipment
Property, plant and equipment, gross	77,565		77,565		73,894
Furniture, fixtures and other
Property, plant and equipment
Property, plant and equipment, gross	$ 16,832		$ 16,832		$ 15,797

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Change in goodwill
Beginning balance	$ 52,935
Goodwill acquired (Note 2)	6,552
Effect of foreign currency translation	14
Ending balance	$ 59,501

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Mar. 07, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Intangible assets subject to amortization
Gross Amount		$ 97,291		$ 97,291		$ 89,487
Accumulated amortization		(29,913)		(29,913)		(26,990)
Net Book Value		67,378		67,378		62,497
Amortization expense for intangible assets		1,483	$ 1,430	2,924	$ 2,862
Estimated amortization expense
Remainder of 2020		2,976		2,976
2021		5,945		5,945
2022		5,990		5,990
2023		5,996		5,996
2024		5,670		5,670
Thereafter		40,801		40,801
Total estimated amortization expense		67,378		67,378
Dynamic Controls
Intangible assets subject to amortization
Intangible assets	$ 7,800	7,800		7,800
Customer lists
Intangible assets subject to amortization
Gross Amount		68,698		68,698		64,314
Accumulated amortization		(21,315)		(21,315)		(19,311)
Net Book Value		47,383		$ 47,383		45,003
Customer lists | Dynamic Controls
Intangible assets subject to amortization
Estimated Life	16 years
Customer lists | Minimum
Intangible assets subject to amortization
Estimated Life				8 years
Customer lists | Maximum
Intangible assets subject to amortization
Estimated Life				17 years
Trade name
Intangible assets subject to amortization
Gross Amount		13,733		$ 13,733		12,222
Accumulated amortization		(4,549)		(4,549)		(4,114)
Net Book Value		9,184		$ 9,184		8,108
Trade name | Dynamic Controls
Intangible assets subject to amortization
Estimated Life	18 years
Trade name | Minimum
Intangible assets subject to amortization
Estimated Life				10 years
Trade name | Maximum
Intangible assets subject to amortization
Estimated Life				19 years
Design and technologies
Intangible assets subject to amortization
Gross Amount		14,836		$ 14,836		12,927
Accumulated amortization		(4,037)		(4,037)		(3,554)
Net Book Value		10,799		$ 10,799		9,373
Design and technologies | Minimum
Intangible assets subject to amortization
Estimated Life				10 years
Design and technologies | Maximum
Intangible assets subject to amortization
Estimated Life				15 years
Patents
Intangible assets subject to amortization
Estimated Life				17 years
Gross Amount		24		$ 24		24
Accumulated amortization		(12)		(12)		(11)
Net Book Value		$ 12		$ 12		$ 13

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Additional disclosures
Stock based compensation expense, net of forfeitures	$ 931	$ 866	$ 1,720	$ 1,540
Restricted Stock
STOCK-BASED COMPENSATION
Weighted average market value (in dollars per share)	$ 32.92
Service period over which value of the shares is amortized to compensation expense			3 years
Number of Non-vested Restricted Shares
Outstanding at beginning of period (in shares)			186,702
Awarded (in shares)	146,437		146,437
Vested (in shares)			(88,128)
Forfeited (in shares)			(1,811)
Outstanding at end of period (in shares)	243,200		243,200
Restricted Stock | Performance based vesting
Number of Non-vested Restricted Shares
Awarded (in shares)	100,403

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ACCRUED LIABILITIES
Compensation and fringe benefits	$ 9,588	$ 12,967
Warranty reserve	1,508	1,075
Income taxes payable	2,852	2,231
Right of use liabilities	4,016	3,203
Other accrued expenses	4,246	3,525
Accrued liabilities	$ 22,210	$ 23,001

DEBT OBLIGATIONS (Details)

DEBT OBLIGATIONS (Details) ¥ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020CNY (¥)	Feb. 12, 2020USD ($)	Feb. 11, 2020USD ($)	Dec. 31, 2019USD ($)
DEBT OBLIGATIONS
Long-term debt	$ 128,452,000				$ 109,765,000
Unamortized debt issuance costs	(647,000)				(320,000)
Revolving Credit Facility
DEBT OBLIGATIONS
Long-term debt	$ 129,099,000				110,085,000
Effective rate (as a percent)	2.34%	2.34%
Amended Revolving Facility
DEBT OBLIGATIONS
Maximum borrowing capacity			$ 225,000,000
Available borrowing capacity			$ 75,000,000
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)	0.175%
Unused amount of credit facility	$ 95,901
Amended Revolving Facility | Minimum
DEBT OBLIGATIONS
Maximum borrowing capacity				$ 175,000,000
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)	0.10%
Amended Revolving Facility | Maximum
DEBT OBLIGATIONS
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)	0.225%
Amended Revolving Facility | LIBOR
DEBT OBLIGATIONS
Applicable margin (as a percent)	1.50%
Amended Revolving Facility | LIBOR | Minimum
DEBT OBLIGATIONS
Applicable margin (as a percent)	1.00%
Amended Revolving Facility | LIBOR | Maximum
DEBT OBLIGATIONS
Applicable margin (as a percent)	1.75%
Amended Revolving Facility | Prime Rate
DEBT OBLIGATIONS
Applicable margin (as a percent)	0.50%
Amended Revolving Facility | Prime Rate | Minimum
DEBT OBLIGATIONS
Applicable margin (as a percent)	0.00%
Amended Revolving Facility | Prime Rate | Maximum
DEBT OBLIGATIONS
Applicable margin (as a percent)	0.75%
China Credit Facility
DEBT OBLIGATIONS
Interest rate (as a percent)	110.00%	110.00%
Maximum borrowing capacity	$ 1,414,000	¥ 10,000
Average outstanding borrowings	0
Principal amount of debt borrowed	$ 0				$ 0

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2020USD ($)derivative	Dec. 31, 2019USD ($)	Feb. 28, 2017USD ($)derivative
Interest Rate Swaps
Derivative financial instruments
Number of derivative instruments | derivative					2		3
Notional amount of interest rate swap derivatives					$ 60,000
Notional amount of interest rate swap derivatives							$ 40,000
Estimated amount to be reclassified as an increase to interest expense			$ 891
Interest Rate Swaps | Minimum
Derivative financial instruments
Notional amount of interest rate swap derivatives					$ 20,000
Derivatives in cash flow hedging relationships | Interest rate products
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Amount of gain (loss) recognized in OCI on derivative	$ (448)	$ (387)	(1,560)	$ (597)
Derivatives in cash flow hedging relationships | Interest rate products | Interest income (expense)
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Amount of gain (loss) reclassified from accumulated OCI into income	(155)	49	(186)	101
Derivatives designated as hedging instruments | Interest rate products | Interest income (expense)
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Total amounts of income and expense line items presented that reflect the effects of cash flow hedges recorded	901	$ 1,435	1,955	$ 2,615
Derivatives designated as hedging instruments | Interest rate products | Other Liabilities [Member]
Derivative financial instruments
Fair value of derivative liability	$ 2,228		$ 2,228			$ 363

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Effects of offsetting (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Gross amounts offset in the consolidated balance sheets
Gross amounts of recognized liabilities or Gross amounts offset in the consolidated balance sheets	$ 2,228	$ 363
Net amounts of assets/liabilities presented in the consolidated balance sheets	2,228	363
Gross amounts not offset in the consolidated balance sheets
Net amount	$ 2,228	$ 363

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets (liabilities)
Other long-term assets	$ 4,556	$ 4,835
Recurring basis | Level 1
Assets (liabilities)
Pension plan assets	5,598	6,099
Other long-term assets	4,411	4,690
Recurring basis | Level 2
Assets (liabilities)
Interest rate swaps	$ (2,228)	$ (363)

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Effective income tax rate
Effective income tax rate (as a percent)	29.90%	28.00%	28.80%	27.70%
Discrete tax provision (benefit) (as a percent)	1.7	(0.5)	0.9	(1.1)

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 07, 2020	Dec. 31, 2019
LEASES
Options to terminate the leases	true
Operating lease option to terminate Period	30 days
Supplemental cash flow information related to the operating leases
Cash paid for amounts included in the measurement of operating leases	$ 2,126	$ 2,069
ROU assets obtained in exchange for operating lease obligations	1,797	185
ROU assets recorded upon adoption of ASC 842		$ 20,344
Lease assets and liabilities
Right of use assets	18,987			$ 16,420
Right of use liabilities, current	4,016			3,203
Right of use liabilities, long-term	15,471			$ 13,715
Total ROU lease liabilities	19,487
Maturity of the operating lease liabilities
2020	2,324
2021	4,181
2022	3,372
2023	2,688
2024	2,178
2025	2,051
Thereafter	4,413
Total undiscounted cash flows	21,207
Less: present value discount	(1,720)
Total lease liabilities	19,487
Dynamic Controls
Supplemental cash flow information related to the operating leases
Right of use assets	$ 2,735		$ 2,735

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balances	$ 121,693	$ 106,798	$ 119,194	$ 101,813
Balances	126,280	111,200	126,280	111,200
Accumulated Other Comprehensive Income (Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balances	(14,047)	(9,667)	(10,531)	(8,518)
Unrealized loss on cash flow hedges	(588)	(515)	(2,051)	(806)
Amounts reclassified from AOCI	155	(49)	186	(101)
Tax effect of cash flow hedges	104	128	448	209
Foreign currency translation loss	1,932	548	(496)	(339)
Balances	(12,444)	(9,555)	(12,444)	(9,555)
Defined Benefit Plan Liability
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balances	(1,628)	(1,006)	(1,628)	(1,006)
Balances	(1,628)	(1,006)	(1,628)	(1,006)
Cash Flow Hedges
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balances	(1,365)	172	(277)	434
Unrealized loss on cash flow hedges	(588)	(515)	(2,051)	(806)
Amounts reclassified from AOCI	155	(49)	186	(101)
Tax effect of cash flow hedges	104	128	448	209
Balances	(1,694)	(264)	(1,694)	(264)
Foreign Currency Translation Adjustment
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balances	(11,054)	(8,833)	(8,626)	(7,946)
Foreign currency translation loss	1,932	548	(496)	(339)
Balances	$ (9,122)	$ (8,285)	$ (9,122)	$ (8,285)

DIVIDENDS PER SHARE (Details)

DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
DIVIDENDS PER SHARE
Dividends declared (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03
Total dividends declared					$ 582	$ 575

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic and diluted weighted-average shares outstanding
Basic weighted average shares outstanding	9,509	9,408	9,474	9,378
Dilutive effect of equity awards	27	48	44	41
Diluted weighted average shares outstanding	9,536	9,456	9,518	9,419

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment information
Number of operating segments | segment			1
Identifiable assets	$ 338,499		$ 338,499		$ 305,828
Total Revenue
Segment information
Percentage of concentration risk	11.00%	15.00%	12.00%	16.00%
Trade receivables
Segment information
Percentage of concentration risk			15.00%		17.00%
Outside the United States
Segment information
Revenues derived from foreign subsidiaries	$ 43,372	$ 38,802	$ 86,762	$ 82,485
Wholly owned foreign subsidiaries
Segment information
Revenues derived from foreign subsidiaries	39,350	$ 29,985	75,363	$ 64,567
Identifiable assets	$ 121,801		$ 121,801		$ 95,777