Distribution Solutions (DSGR) 10-Q 20 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 14, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	LAWSON PRODUCTS INC/NEW/DE/
Entity Central Index Key	703,604
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	8,835,810	8,835,810

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 7,973	$ 10,421
Restricted cash	800	800
Accounts receivable, less allowance for doubtful accounts	34,016	30,200
Inventories, net	43,231	42,561
Property held for sale	707	0
Miscellaneous receivables and prepaid expenses	3,854	3,788
Total current assets	90,581	87,770
Property, plant and equipment, net	28,784	30,907
Cash value of life insurance	10,277	10,051
Goodwill	5,560	5,520
Deferred income taxes	20	20
Other assets	996	1,039
Total assets	136,218	135,307
Current liabilities:
Revolving line of credit	1,798	841
Accounts payable	13,452	11,307
Accrued expenses and other liabilities	24,754	27,289
Total current liabilities	40,004	39,437
Noncurrent liabilities and deferred credits:
Security bonus plan	13,790	14,216
Financing lease obligation	7,271	7,543
Deferred compensation	4,937	4,830
Deferred rent liability	3,689	3,676
Other liabilities	4,214	4,472
Total liabilities	73,905	74,174
Stockholders' equity:
Authorized - 500,000 shares, Issued and outstanding — None	0	0
Authorized - 35,000,000 shares Issued - 8,868,116 and 8,864,929 shares, respectively Outstanding - 8,835,810 and 8,832,623 shares, respectively	8,868	8,865
Capital in excess of par value	11,480	11,055
Retained earnings	42,622	41,943
Treasury stock – 32,306 shares	(691)	(691)
Accumulated other comprehensive income (loss)	34	(39)
Total stockholders’ equity	62,313	61,133
Total liabilities and stockholders’ equity	$ 136,218	$ 135,307

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	8,868,116	8,864,929
Common stock, shares outstanding	8,835,810	8,832,623
Treasury Stock, Shares	32,306	32,306

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net sales	$ 74,617	$ 69,711
Cost of goods sold	29,738	27,252
Gross profit	44,879	42,459
Operating expenses:
Selling expenses	24,804	22,753
General and administrative expenses	19,363	18,537
Operating expenses	44,167	41,290
Operating income	712	1,169
Interest expense	(94)	(166)
Other income, net	225	123
Income before income taxes	843	1,126
Income tax (benefit) expense	$ (14)	$ 109
Basic income per share of common stock:
Basic income per share of common stock	$ 0.10	$ 0.12
Diluted income per share of common stock:
Diluted income per share of common stock	$ 0.09	$ 0.11
Basic weighted average shares outstanding	8,834	8,771
Effect of dilutive securities outstanding	255	131
Diluted weighted average shares outstanding	9,089	8,902
Comprehensive income
Net income	$ 857	$ 1,017
Adjustment for foreign currency translation	73	957
Net comprehensive income	$ 930	$ 1,974

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Net income	$ 857	$ 1,017
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,705	2,187
Stock-based compensation	(30)	(1,217)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(3,894)	(3,697)
Inventories	(626)	611
Prepaid expenses and other assets	(305)	1,192
Accounts payable and other liabilities	(1,099)	(1,190)
Other	116	134
Net cash used in operating activities	(3,276)	(963)
Investing activities:
Purchases of property, plant and equipment	(204)	(519)
Business acquisitions	0	(1,250)
Net cash used in investing activities	(204)	(1,769)
Financing activities:
Net borrowings on revolving line of credit	957	1,305
Net cash provided by financing activities	957	1,305
Effect of exchange rate changes on cash and cash equivalents	75	730
Decrease in cash and cash equivalents	(2,448)	(697)
Cash and cash equivalents at beginning of period	10,421	10,765
Cash and cash equivalents at end of period	$ 7,973	$ 10,068

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Lawson Products, Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not contain all disclosures required by generally accepted accounting principles. Reference should be made to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . In the opinion of the Company, all normal recurring adjustments have been made that are necessary to present fairly the results of operations for the interim periods. Operating results for the three month period ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The Company operates in one reportable segment as a Maintenance, Repair and Operations ("MRO") distributor of products and services to the industrial, commercial, institutional, and governmental maintenance, repair and operations marketplace. For the three months ended March 31, 2017 and 2016 , stock options to purchase 40,000 of the Company's common stock were excluded from the computation of diluted earnings per share because they were anti-dilutive. Effective January 1, 2017, the Company adopted Accounting Standards Update 2016-09, “Compensation-Stock Compensation (Topic 718)” (“ASU 2016-09”). Prior to January 1, 2017, the Company recognized excess tax benefits or deficiencies of stock-based compensation expense, to the extent that there were sufficient recognized excess tax benefits previously recognized, as a component of additional paid-in capital. ASU 2016-09 requires the Company to account for excess tax benefits and tax deficiencies as discrete items in the reporting period in which they occur. The adoption was applied on a modified retrospective basis. All deferred tax assets related to stock-based compensation are fully reserved and, therefore, there is no net effect on the Company's balance sheet for the first quarter of 2017. As a result of including the income tax effects from excess tax benefits in income tax expense, the effects of the excess tax benefits are no longer included in the calculation of diluted shares outstanding, resulting in an increase in the number of diluted shares outstanding. The Company adopted this change in the method of calculating diluted shares outstanding on a prospective basis. ASU 2016-09 also permits entities to make an accounting policy election related to how forfeitures will impact the recognition of compensation cost for stock-based compensation to either estimate the total number of awards for which the requisite service period will not be rendered, as currently required, or to account for forfeitures as they occur. Upon adoption of ASU 2016-09, the Company elected to change its accounting policy to account for forfeitures as they occur. The change was applied on a modified retrospective basis with a cumulative effect adjustment to reduce retained earnings by $178,000 , as of January 1, 2017. Additionally, ASU 2016-09 addressed the presentation of employee taxes paid on the statement of cash flows. The Company is now required to present the cost of shares withheld from the employee to satisfy the employees’ income tax liability as a financing activity on the statement of cash flows rather than as an operating cash flow. The Company adopted this change retrospectively. There were no shares withheld from employees in the first quarter of 2017 or 2016. Except for the changes described above, there have been no other material changes in the Company's significant accounting policies during the three months ended March 31, 2017 as compared to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2016 .

Restricted Cash Restricted Cash

Restricted Cash Restricted Cash	3 Months Ended
	Mar. 31, 2017
Restricted Cash [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	Restricted Cash The Company has agreed to maintain $0.8 million in a money market account as collateral for an outside party that is providing certain commercial card processing services for the Company. The Company is restricted from withdrawing this balance without the prior consent of the outside party during the term of the agreement.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories, net Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Inventories, gross $ 48,741 $ 48,038 Reserve for obsolete and excess inventory (5,510 ) (5,477 ) Inventories, net $ 43,231 $ 42,561

Property held for sale Property

Property held for sale Property held for sale (Notes)	3 Months Ended
	Mar. 31, 2017
Property held for sale [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	Property Held For Sale During 2016, the Company announced plans to cease operations at the distribution center located in Fairfield, New Jersey. During the first quarter of 2017, the Company ceased operations at this location and classified the net book value of $0.7 million as property held for sale. Depreciation of the property has been discontinued and the Company is under contract to sell the property for a gain in the second quarter of 2017.

Acquisitions and Goodwill (Note

Acquisitions and Goodwill (Notes)	3 Months Ended
	Mar. 31, 2017
Acquisitions and Goodwill [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions and Goodwill Primarily to expand its sales coverage and obtain experienced sales representatives, the Company completed three acquisitions in 2016. In March 2016, the Company acquired the assets of Perfect Products Company of Michigan ("Perfect Products"), an auto parts distributor for approximately $1.3 million in cash and $30 thousand in contingent consideration. In May 2016, the Company acquired the assets of F.B. Feeney Hardware ("F. B. Feeney") in Ontario, Canada, for approximately $1.3 million in cash and $0.1 million in contingent consideration. And, in November 2016, the Company acquired the assets of Mattic Industries Limited ("Mattic") an industrial parts distributor located in western Canada, for approximately $3.5 million in cash and $0.3 million in contingent consideration. The following table contains unaudited pro forma net sales and net income for Lawson Products assuming the Perfect Products, F.B Feeney and Mattic acquisitions closed on January 1, 2015. (Dollars in thousands) Three Months Ended March 31, 2017 2016 Net sales Actual $ 74,617 $ 69,711 Pro forma 74,617 71,376 Net income Actual $ 857 $ 1,017 Pro forma 857 1,193 The pro forma disclosures in the table above include adjustments for, amortization of intangible assets and acquisition costs to reflect results that are more representative of the combined results of the transactions as if the Mattic, F.B Feeney and Perfect Product acquisitions closed on January 1, 2015 rather than on the actual acquisition dates. This pro forma information utilizes certain estimates, is presented for illustrative purposes only and is not intended to be indicative of the actual results of operation. In addition, future results may vary significantly from the results reflected in the pro forma information. The unaudited pro forma financial information does not reflect the impact of future positive or negative events that may occur after the acquisition, such as anticipated cost savings from operating synergies. Goodwill activity for the first quarter of 2017 and 2016 is included in the table below: (Dollars in thousands) Three Months Ended March 31, 2017 2016 Beginning balance $ 5,520 $ 319 Acquisition — 1,254 Impact of foreign exchange 40 20 Ending balance $ 5,560 $ 1,593

Loan Agreement

Loan Agreement	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Loan Agreement	In 2012, the Company entered into a Loan and Security Agreement (“Loan Agreement”). The Loan Agreement consists of a $40.0 million revolving line of credit facility, which includes a $10.0 million sub-facility for letters of credit. Certain terms of the original Loan Agreement have been revised by subsequent amendments. The Loan Agreement, as amended, expires in August 2020. Due to the lock box arrangement and a subjective acceleration clause contained in the Loan Agreement, any outstanding borrowings under the revolving line of credit are classified as a current liability. Currently, credit available under the Loan Agreement, as amended, is based upon: a) 85% of the face amount of the Company’s eligible accounts receivable, generally less than 60 days past due, and b) the lesser of 60% of the lower of cost or market value of the Company’s eligible inventory, generally inventory expected to be sold within 18 months , or $20.0 million . The applicable interest rates for borrowings are at the Prime rate or, if the Company elects, the LIBOR rate plus 1.50% to 1.85% based on the Company’s debt to EBITDA ratio. The Loan Agreement is secured by a first priority perfected security interest in substantially all existing assets of the Company. Dividends are restricted to amounts not to exceed $7.0 million annually. At March 31, 2017 , the Company had $1.8 million of borrowings under its revolving line of credit facility and additional borrowing availability of $34.0 million . The Company paid interest of $0.1 million and $0.2 million for the three months ended March 31, 2017 and 2016 , respectively. The weighted average interest rate was 3.81% for the three months ended March 31, 2017 . In addition to other customary representations, warranties and covenants, the Company is required to meet a minimum trailing twelve month EBITDA to fixed charges ratio, as defined in the amended Loan Agreement if the excess capacity is below $10.0 million . On March 31, 2017 , the Company's borrowing capacity exceeded $10.0 million . Therefore, the Company was not subject to this financial covenant, however, for informational purposes the results of the financial covenant is provided below: Quarterly Financial Covenants Requirement Actual EBITDA to fixed charges ratio 1.10 : 1.00 2.01 : 1.00

Reserve for Severance

Reserve for Severance	3 Months Ended
	Mar. 31, 2017
Severance Reserve [Abstract]
Reserve for Severance	Severance Reserve Changes in the Company’s reserve for severance as of March 31, 2017 and 2016 were as follows: (Dollars in thousands) Three Months Ended March 31, 2017 2016 Balance at beginning of period $ 1,710 $ 697 Charged to earnings 465 204 Payments (475 ) (380 ) Balance at end of period $ 1,700 $ 521 The remaining severance liabilities outstanding as of March 31, 2017 will substantially be paid by the end of 2017.

Stock Based Compensation Stock

Stock Based Compensation Stock Based Compensation (Notes)	3 Months Ended
	Mar. 31, 2017
Stock Based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based Compensation The Company recorded a stock-based compensation benefit of $30 thousand and $1.2 million for the first three months of 2017 and 2016, respectively, as a portion of stock-based compensation is related to the change in the market value of the Company's common stock. A summary of stock-based awards issued during the three months ended March 31, 2017 follows: Stock Performance Rights ("SPRs") The Company issued 35,351 SPRs to key employees with an exercise price of $22.75 per share that cliff vest on December 31, 2019 and have a termination date of December 31, 2024. Restricted Stock Units ("RSUs") The Company issued 21,614 RSUs to key employees with a vesting date of December 31, 2019. Each RSU is exchangeable for one share of the Company's common stock at the end of the vesting period. Restricted Stock Awards ("RSAs") The Company issued 3,000 RSAs to key employees with a vesting date of December 31, 2019. Each RSA is exchangeable for one share of the Company's common stock at the end of the vesting period. Market Stock Units ("MSUs") The Company issued 39,238 MSUs to key employees that cliff vest on December 31, 2019. MSU's are exchangeable for the Company's common stock at the end of the vesting period. The number of shares of common stock that will be issued upon vesting, ranging from zero to 58,857 , will be determined based upon the trailing sixty-day weighted average closing price of the Company's common stock on December 31, 2019.

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Although the Company has minimal cumulative income over the past three years, the Company has determined that there is insufficient positive evidence to conclude that it is more likely than not that it will be able to utilize its deferred tax assets to offset future taxable income. Therefore, substantially all deferred tax assets are currently subject to a tax valuation allowance. However, sufficient evidence may become available in future periods regarding the utilization of deferred tax assets that would lead to the reduction of all or a portion of the valuation allowance resulting in a decrease to income tax expense for the period in which the reduction is recorded. Although the Company is in this full tax valuation allowance position, a tax benefit of $14 thousand and an expense of $0.1 million was recorded for the three months ended March 31, 2017 and 2016, respectively, primarily due to reserves for uncertain tax positions and state taxes. The Company and its subsidiaries are subject to U.S. Federal income tax, as well as income tax of multiple state and foreign jurisdictions. As of March 31, 2017 , the Company is subject to U.S. Federal income tax examinations for the years 2013 through 2015 and income tax examinations from various other jurisdictions for the years 2006 through 2015. Earnings from the Company’s foreign subsidiary are considered to be indefinitely reinvested. A distribution of these non-U.S. earnings in the form of dividends or otherwise would subject the Company to both U.S. Federal and state income taxes, as adjusted for foreign tax credits.

Contingent Liability Contingent

Contingent Liability Contingent Liability (Notes)	3 Months Ended
	Mar. 31, 2017
Contingent Liability [Abstract]
Legal Matters and Contingencies [Text Block]	Contingent Liabilities In 2012, the Company identified that a site it owns in Decatur, Alabama, contains hazardous substances in the soil and groundwater as a result of historical operations prior to the Company's ownership. The Company retained an environmental consulting firm to further investigate the contamination including the measurement and monitoring of the site. In August 2013, the site was enrolled in Alabama's voluntary cleanup program. On October 30, 2014, the Company received estimates from its environmental consulting firm for three potential remediation solutions. The estimates included a range of viable remedial approaches. The first solution included limited excavation and removal of the contaminated soil along with monitoring for a period up to 10 years. The second solution included the first solution plus the installation of a groundwater extraction system. The third scenario included the first and second solutions plus treatment injections to reduce the degradation time. The estimated expenditures over a 10 -year period under the three scenarios ranged from $0.3 million to $1.4 million , of which up to $0.3 million may be capitalized. As the Company has determined that a loss was probable and no scenario was more likely than the other at that time, a liability in the amount of $0.3 million was established in 2014. During 2015, after further evidence had been collected and analyzed, the Company concluded that it was probable that future remediation would be required, and accordingly accrued an additional $0.9 million for the estimated costs. This estimate is based on the information developed to date and as the remediation efforts proceed, additional information may impact the final cost. As of March 31, 2017 , agreement with Alabama’s voluntary cleanup program on viable treatment of the property has not yet been reached and the Company continues to evaluate potential remediation alternatives that could impact the ultimate cost of remediation. As of March 31, 2017 , approximately $1.0 million was accrued for remediation in other long-term liabilities on the accompanying consolidated balance sheet.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Components of inventories	Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Inventories, gross $ 48,741 $ 48,038 Reserve for obsolete and excess inventory (5,510 ) (5,477 ) Inventories, net $ 43,231 $ 42,561

Acquisitions and Goodwill Busin

Acquisitions and Goodwill Business Acquisitions, Pro Forma Information (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill Rollforward [Abstract]
Business Acquisition, Pro Forma Information [Table Text Block]	The following table contains unaudited pro forma net sales and net income for Lawson Products assuming the Perfect Products, F.B Feeney and Mattic acquisitions closed on January 1, 2015. (Dollars in thousands) Three Months Ended March 31, 2017 2016 Net sales Actual $ 74,617 $ 69,711 Pro forma 74,617 71,376 Net income Actual $ 857 $ 1,017 Pro forma 857 1,193 The pro forma disclosures in the table above include adjustments for, amortization of intangible assets and acquisition costs to reflect results that are more representative of the combined results of the transactions as if the Mattic, F.B Feeney and Perfect Product acquisitions closed on January 1, 2015 rather than on the actual acquisition dates. This pro forma information utilizes certain estimates, is presented for illustrative purposes only and is not intended to be indicative of the actual results of operation. In addition, future results may vary significantly from the results reflected in the pro forma information. The unaudited pro forma financial information does not reflect the impact of future positive or negative events that may occur after the acquisition, such as anticipated cost savings from operating synergies.

Acquisitions and Goodwill Goodw

Acquisitions and Goodwill Goodwill (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill Rollforward [Abstract]
Schedule of Goodwill [Table Text Block]	Goodwill activity for the first quarter of 2017 and 2016 is included in the table below: (Dollars in thousands) Three Months Ended March 31, 2017 2016 Beginning balance $ 5,520 $ 319 Acquisition — 1,254 Impact of foreign exchange 40 20 Ending balance $ 5,560 $ 1,593

Loan Agreement (Tables)

Loan Agreement (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Quarterly Financial Covenants [Table Text Block]	In addition to other customary representations, warranties and covenants, the Company is required to meet a minimum trailing twelve month EBITDA to fixed charges ratio, as defined in the amended Loan Agreement if the excess capacity is below $10.0 million . On March 31, 2017 , the Company's borrowing capacity exceeded $10.0 million . Therefore, the Company was not subject to this financial covenant, however, for informational purposes the results of the financial covenant is provided below: Quarterly Financial Covenants Requirement Actual EBITDA to fixed charges ratio 1.10 : 1.00 2.01 : 1.00

Reserve for Severance (Tables)

Reserve for Severance (Tables)	3 Months Ended
	Mar. 31, 2017
Severance Reserve [Abstract]
Changes in the Company's reserve for severance and related payments	Changes in the Company’s reserve for severance as of March 31, 2017 and 2016 were as follows: (Dollars in thousands) Three Months Ended March 31, 2017 2016 Balance at beginning of period $ 1,710 $ 697 Charged to earnings 465 204 Payments (475 ) (380 ) Balance at end of period $ 1,700 $ 521

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Compensation Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	40,000	40,000

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies Cumulative adjustment to retained earnings (Details)	Jan. 01, 2017USD ($)
Cumulative adjustment to retained earnings [Abstract]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 178,000

Restricted Cash Restricted Ca23

Restricted Cash Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Restricted Cash [Abstract]
Restricted cash	$ 800	$ 800

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Components of inventories
Inventory, Gross	$ 48,741	$ 48,038
Inventory Valuation Reserves	(5,510)	(5,477)
Inventories, net	$ 43,231	$ 42,561

Property held for sale (Details

Property held for sale (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property held for sale [Abstract]
Property held for sale	$ 707	$ 0

Acquisitions and Goodwill Acqui

Acquisitions and Goodwill Acquisition Detail (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 0	$ 1,250
Perfect Products [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			$ 1,300
Business Combination, Contingent Consideration, Liability			30
Feeney [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			1,300
Business Combination, Contingent Consideration, Liability			100
Mattic [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			3,500
Business Combination, Contingent Consideration, Liability			$ 300

Acquisitions and Goodwill Pro F

Acquisitions and Goodwill Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Pro Forma Information [Abstract]
Net sales Actual	$ 74,617	$ 69,711
Net Sales Pro Forma	74,617	71,376
Net Income Actual	857	1,017
Net income Pro Forma	$ 857	$ 1,193

Acquisitions and Goodwill Goo28

Acquisitions and Goodwill Goodwill Table (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill Table [Abstract]
Goodwill Beginning Balance	$ 5,520	$ 319
Goodwill, Acquired During Period	0	1,254
Impact of foreign exchange	40	20
Goodwill Ending Balance	$ 5,560	$ 1,593

Loan Agreement Covenant (Detail

Loan Agreement Covenant (Details)	3 Months Ended
	Mar. 31, 2017
Maximum [Member] | Actual Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	2.01
Maximum [Member] | Required Minimum Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1.10
Minimum [Member] | Actual Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1
Minimum [Member] | Required Minimum Value [Member]
Loan Agreement [Line Items]
Minimum Debt Service Coverage Ratio	1

Loan Agreement (Details)

Loan Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Loan Agreement [Line Items]
Excess cash capacity	$ 10,000
Credit Facility (Textual) [Abstract]
Eligible accounts receivables percentage	85.00%
Eligible accounts receivables past due days	60 days
Eligible inventory percentage	60.00%
Eligible inventory expected to be sold period	18 months
Maximum borrowing amount based on inventory	$ 20,000
Revolving Line of Credit	1,798		$ 841
Credit Facility, remaining borrowing capacity	34,000
Interest Paid	$ 84	$ 154
Weighted average interest rate	3.81%
Maximum
Credit Facility (Textual) [Abstract]
Spread on LIBOR	1.85%
Restricted Dividends	$ 7,000
Minimum
Credit Facility (Textual) [Abstract]
Spread on LIBOR	1.50%
Revolving Credit Facility [Member]
Credit Facility (Textual) [Abstract]
Credit facility, borrowing capacity	$ 40,000
Letter of Credit [Member]
Credit Facility (Textual) [Abstract]
Credit facility, borrowing capacity	$ 10,000

Reserve for Severance Activity

Reserve for Severance Activity in reserve (Details) - Employee Severance [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reserve for severance and related payments
Balance at beginning of period	$ 1,710	$ 697
Charged to earnings	465	204
Cash paid	(475)	(380)
Balance at end of the period	$ 1,700	$ 521

Stock Based Compensation Stoc32

Stock Based Compensation Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Based Compensation
Employee Benefits and Share-based Compensation	$ (30)	$ (1,217)
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings	21,614
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	3,000
Minimum [Member]
Stock Based Compensation
Equity Share Payout Range	0
Maximum [Member]
Stock Based Compensation
Equity Share Payout Range	58,857
MSU [Member]
Stock Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	39,238
Share-based Compensation Award, Tranche Two [Member]
Stock Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	35,351
Share Based Compensation Non Option Equity Instruments Granted Weighted Average Exercise Price	$ 22.75

Income Tax Income Tax (Details)

Income Tax Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax [Abstract]
Income Tax Expense (Benefit)	$ (14)	$ 109

EPS Calc (Details)

EPS Calc (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 857	$ 1,017

Contingent Liability Continge35

Contingent Liability Contingent Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2015
Loss Contingencies [Line Items]
Environmental Remediation Term	10 years
Environmental Exit Costs, Reasonably Possible Additional Losses, Low Estimate	$ 0.9
Capitalizable Environmental Exit Costs	0.3
Environmental Exit Costs, Liability for Remediation	1	$ 0.3
Minimum [Member]
Loss Contingencies [Line Items]
Environmental Exit Costs, Anticipated Cost	0.3
Maximum [Member]
Loss Contingencies [Line Items]
Environmental Exit Costs, Anticipated Cost	$ 1.4