Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'SPARTAN MOTORS INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 34,140,714 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000743238 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $19,964 | $21,748 |
Accounts receivable, less allowance of $777 and $1,021 | 52,299 | 47,139 |
Inventories | 82,374 | 67,591 |
Deferred income tax assets | 6,291 | 6,291 |
Income taxes receivable | 2,683 | 3,011 |
Assets held for sale | 716 | 716 |
Other current assets | 2,534 | 6,027 |
Total current assets | 166,861 | 152,523 |
Property, plant and equipment, net | 55,850 | 59,122 |
Goodwill | 20,815 | 20,815 |
Intangible assets, net | 10,334 | 11,052 |
Other assets | 2,052 | 1,639 |
TOTAL ASSETS | 255,912 | 245,151 |
Current liabilities: | ' | ' |
Accounts payable | 32,917 | 23,000 |
Accrued warranty | 7,433 | 6,062 |
Accrued customer rebates | 2,144 | 2,299 |
Accrued compensation and related taxes | 6,735 | 7,748 |
Deposits from customers | 12,108 | 6,386 |
Other current liabilities and accrued expenses | 6,420 | 8,113 |
Current portion of long-term debt | 92 | 82 |
Total current liabilities | 67,849 | 53,690 |
Other non-current liabilities | 2,905 | 3,071 |
Long-term debt, less current portion | 5,275 | 5,207 |
Deferred income tax liabilities | 4,454 | 4,454 |
Shareholders' equity: | ' | ' |
Preferred stock, no par value: 2,000 shares authorized (none issued) | 0 | 0 |
Common stock, $0.01 par value; 40,000 shares authorized; 34,116 and 33,862 outstanding | 341 | 339 |
Additional paid in capital | 74,277 | 72,873 |
Retained earnings | 100,811 | 105,517 |
Total shareholders' equity | 175,429 | 178,729 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $255,912 | $245,151 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Accounts receivable, allowance (in Dollars) | $777 | $1,021 |
Preferred stock, par value (in Dollars per share) | $0 | $0 |
Preferred stock, shares authorized | 2,000 | 2,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 40,000 | 40,000 |
Common stock, shares outstanding | 34,116 | 33,862 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Sales | $126,074 | $112,857 | $343,084 | $346,087 |
Cost of products sold | 109,943 | 98,346 | 304,981 | 294,871 |
Restructuring charge | ' | 1,543 | ' | 5,760 |
Gross profit | 16,131 | 12,968 | 38,103 | 45,456 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 2,726 | 2,909 | 8,424 | 9,902 |
Selling, general and administrative | 11,593 | 10,234 | 33,628 | 33,388 |
Restructuring charge | ' | 100 | ' | 1,976 |
Total operating expenses | 14,319 | 13,243 | 42,052 | 45,266 |
Operating income (loss) | 1,812 | -275 | -3,949 | 190 |
Other income (expense): | ' | ' | ' | ' |
Interest expense | -79 | -81 | -235 | -253 |
Interest and other income | 173 | 178 | 433 | 434 |
Total other income (expense) | 94 | 97 | 198 | 181 |
Income (loss) before taxes | 1,906 | -178 | -3,751 | 371 |
Taxes | 1,343 | 149 | -750 | 362 |
Net earnings (loss) | $563 | ($327) | ($3,001) | $9 |
Basic net earnings (loss) per share (in Dollars per share) | $0.02 | ($0.01) | ($0.09) | $0 |
Diluted net earnings (loss) per share (in Dollars per share) | $0.02 | ($0.01) | ($0.09) | $0 |
Basic weighted average common shares outstanding (in Shares) | 34,133 | 33,374 | 33,502 | 33,795 |
Diluted weighted average common shares outstanding (in Shares) | 34,182 | 33,374 | 33,502 | 33,824 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net earnings (loss) | ($3,001) | $9 |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 6,942 | 6,870 |
(Gain) loss on disposal and impairment of assets | -86 | 5,533 |
Expense (benefit) from changes in fair value of contingent consideration | -83 | 966 |
Tax expense related to stock incentive plan transactions | 116 | 194 |
Stock based compensation related to stock awards | 1,278 | 1,342 |
Decrease (increase) in operating assets: | ' | ' |
Accounts receivable | -5,160 | -10,001 |
Inventories | -14,783 | -3,805 |
Income taxes receivable | 328 | -3,889 |
Other assets | 993 | 208 |
Increase (decrease) in operating liabilities: | ' | ' |
Accounts payable | 9,917 | 8,443 |
Accrued warranty | 1,371 | 460 |
Accrued customer rebates | -155 | 569 |
Accrued compensation and related taxes | -1,013 | 625 |
Deposits from customers | 5,722 | -1,352 |
Other current liabilities and accrued expenses | -1,568 | 145 |
Taxes on income | -737 | 253 |
Total adjustments | 3,082 | 6,561 |
Net cash provided by operating activities | 81 | 6,570 |
Cash flows from investing activities: | ' | ' |
Purchases of property, plant and equipment | -3,045 | -9,647 |
Proceeds from sale of property, plant and equipment | 179 | 65 |
Proceeds from notes receivable | 2,500 | ' |
Net cash used in investing activities | -366 | -9,582 |
Cash flows from financing activities: | ' | ' |
Borrowings under credit facilities | ' | 2,891 |
Payments on credit facilities | ' | -2,891 |
Proceeds from long-term debt | 138 | ' |
Payments on long-term debt | -60 | -38 |
Net proceeds (use of cash) from the exercise, vesting or cancellation of stock incentive awards | 244 | -51 |
Cash paid related to tax impact of stock incentive plan transactions | -116 | -194 |
Payment of dividends | -1,705 | -1,692 |
Net cash used in financing activities | -1,499 | -1,975 |
Net decrease in cash and cash equivalents | -1,784 | -4,987 |
Cash and cash equivalents at beginning of period | 21,748 | 31,677 |
Cash and cash equivalents at end of period | $19,964 | $26,690 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
In Thousands | ||||
Balance at Dec. 31, 2012 | $339 | $72,873 | $105,517 | $178,729 |
Balance (in Shares) at Dec. 31, 2012 | 33,862 | ' | ' | ' |
Issuance of common stock and the tax impact of stock incentive plan transactions | 1 | 127 | ' | 128 |
Issuance of common stock and the tax impact of stock incentive plan transactions (in Shares) | 120 | ' | ' | ' |
Issuance of restricted stock, net of cancellation | 1 | -1 | ' | ' |
Issuance of restricted stock, net of cancellation (in Shares) | 134 | ' | ' | ' |
Stock based compensation expense related to restricted stock | ' | 1,278 | ' | 1,278 |
Dividends | ' | ' | -1,705 | -1,705 |
Net loss | ' | ' | -3,001 | -3,001 |
Balance at Sep. 30, 2013 | $341 | $74,277 | $100,811 | $175,429 |
Balance (in Shares) at Sep. 30, 2013 | 34,116 | ' | ' | ' |
Note_1_General_and_Summary_of_
Note 1 - General and Summary of Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Accounting Policies [Text Block] | ' |
NOTE 1 - GENERAL AND SUMMARY OF ACCOUNTING POLICIES | |
For a description of key accounting policies followed refer to the notes to the Spartan Motors, Inc. (the “Company”) consolidated financial statements for the year ended December 31, 2012, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2013. There have been no changes in such accounting policies as of the date of this report. | |
The Company has five wholly-owned operating subsidiaries: Spartan Motors Chassis, Inc., located at our corporate headquarters in Charlotte, Michigan (“Spartan Chassis”); Crimson Fire, Inc., located in Brandon, South Dakota (“Crimson”); Crimson Fire Aerials, Inc., located in Ephrata, Pennsylvania (“Crimson Aerials”); Utilimaster Corporation, located in Bristol and Wakarusa, Indiana (“Utilimaster”); and Classic Fire, LLC (“Classic Fire”), located in Ocala, Florida. In November, 2012, Crimson entered into a joint venture with Gimaex Holding, Inc. to form Spartan-Gimaex Innovations, LLC. Spartan-Gimaex Innovations, LLC will be reported as a consolidated subsidiary of Spartan Motors, Inc. There have been no significant financial transactions involving Spartan-Gimaex Innovations, LLC through September 30, 2013. | |
The accompanying unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments that are necessary for the fair presentation of the Company’s financial position as of September 30, 2013, the results of operations for the three and nine month periods ended September 30, 2013 and the cash flows for the nine month period ended September 30, 2013, and should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year. | |
The Company is required to disclose the fair value of its financial instruments in accordance with Financial Accounting Standards Board (FASB) Codification relating to “Disclosures about Fair Values of Financial Instruments.” The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and the Company’s fixed and variable rate debt instruments approximate their fair value at September 30, 2013 and December 31, 2012. | |
Certain immaterial amounts in the prior periods’ financial statements have been reclassified to conform to the current period’s presentation. | |
Recently issued accounting standards | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). ASU 2013-11 amends the guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss (“NOL”) carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. ASU 2013-11 is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. The Company does not believe that the adoption of the provisions of ASU 2013-11 will have a material impact on its consolidated financial position, results of operations or cash flows. |
Note_2_Inventories
Note 2 - Inventories | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
NOTE 2 – INVENTORIES | |||||||||
Inventories are summarized as follows: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Finished goods | $ | 15,269 | $ | 15,276 | |||||
Work in process | 24,173 | 11,967 | |||||||
Raw materials and purchased components | 45,608 | 43,404 | |||||||
Reserve for slow-moving inventory | (2,676 | ) | (3,056 | ) | |||||
$ | 82,374 | $ | 67,591 | ||||||
Included in the “Raw materials and purchased components” line item above at September 30, 2013 and December 31, 2012 are $1,830 and $9,626, for transitional engines purchased in preparation for the 2013 engine emissions change. | |||||||||
The Company has a number of demonstration units as part of its sales and training program. These demonstration units are included in the “Finished goods” line item above, and the net carrying amount was $9,654 and $9,653 at September 30, 2013 and December 31, 2012. | |||||||||
Work in process inventory increased from December 31, 2012 primarily due to an increase in production levels of emergency response vehicles and delivery and service vehicles that began late in the third quarter. |
Note_3_Debt
Note 3 - Debt | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
NOTE 3 – DEBT | |||||||||
Long-term debt consists of the following: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Note payable to Prudential Investment Management, Inc. Principal due December 1, 2016 with quarterly interest only payments of $68 at 5.46%. Unsecured debt. (1) | $ | 5,000 | $ | 5,000 | |||||
Line of credit revolver (2) | -- | -- | |||||||
Capital lease obligations | 367 | 289 | |||||||
Total debt | 5,367 | 5,289 | |||||||
Less current portion of long-term debt | (92 | ) | (82 | ) | |||||
Total long-term debt | $ | 5,275 | $ | 5,207 | |||||
-1 | The Company has a private shelf agreement with Prudential Investment Management, Inc., which allows the Company to borrow up to $45,000 to be issued in $5,000 minimum increments. The interest rate is determined based on applicable rates at the time of issuance. The Company had $5,000 of private placement notes outstanding at September 30, 2013 and December 31, 2012 with Prudential Investment Management, Inc. | ||||||||
-2 | The Company’s primary line of credit is a $70,000 unsecured revolving line with Wells Fargo Bank and JPMorgan Chase Bank, expiring on December 16, 2016. Both lending institutions equally share this commitment. This line carries an interest rate of the higher of either (i) the highest of prime rate, the federal funds effective rate plus 0.5%, or the one month adjusted LIBOR plus 1.00%; or (ii) adjusted LIBOR plus margin based upon the Company’s ratio of debt to earnings from time to time. The Company had no borrowings on this line at September 30, 2013 or December 31, 2012. General Motors Company (“GM”) has the ability to draw up to $5,000 against the Company’s primary line of credit in relation to chassis supplied to Utilimaster under a chassis bailment inventory program, resulting in net available borrowings of up to $65,000 at September 30, 2013, subject to certain leverage ratio and interest coverage ratio covenants. See Note 5, Commitments and Contingent Liabilities for further information about this chassis bailment inventory program. The applicable borrowing rate including margin was 3.25% at September 30, 2013. | ||||||||
The long-term debt is due as follows: | |||||||||
2013 | $ | 30 | |||||||
2014 | 76 | ||||||||
2015 | 59 | ||||||||
2016 | 5,062 | ||||||||
2017 | 65 | ||||||||
Thereafter | 75 | ||||||||
$ | 5,367 | ||||||||
Under the terms of the primary line of credit agreement and the private shelf agreement, the Company is required to maintain certain financial ratios and other financial conditions, which limited the Company’s available borrowings under its line of credit to a total of approximately $20,500 at September 30, 2013. The agreements also prohibit the Company from incurring additional indebtedness; limit certain acquisitions, investments, advances or loans; and restrict substantial asset sales. At September 30, 2013 and December 31, 2012, the Company was in compliance with all debt covenants. |
Note_4_Restructuring
Note 4 - Restructuring | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | ' | ||||||||||||||||||||
NOTE 4 – RESTRUCTURING | |||||||||||||||||||||
There were no restructuring charges recorded during the nine months ended September 30, 2013. | |||||||||||||||||||||
During the three and nine months ended September 30, 2012, the Company incurred restructuring charges including asset impairments as the result of its planned relocation of its delivery and service vehicles operations and Reach manufacturing along with certain severance charges within its Specialty Vehicles and Emergency Response Vehicles segments to help align expenses with current and future revenue expectations. | |||||||||||||||||||||
Restructuring charges included in the Condensed Consolidated Statements of Operations for the three months ended September 30, 2012 are as follows: | |||||||||||||||||||||
Emergency Response Vehicles | Delivery and Service Vehicles | Specialty Vehicles | Other | Total | |||||||||||||||||
Cost of products sold | |||||||||||||||||||||
Asset impairment | $ | - | $ | 943 | $ | - | $ | - | $ | 943 | |||||||||||
Accrual for severance | - | - | 10 | - | 10 | ||||||||||||||||
Production relocation costs | - | 590 | - | - | 590 | ||||||||||||||||
Total cost of products sold | - | 1,533 | 10 | - | 1,543 | ||||||||||||||||
General and Administrative | |||||||||||||||||||||
Asset impairment | - | - | - | - | - | ||||||||||||||||
Accrual for severance | 77 | - | 4 | 3 | 84 | ||||||||||||||||
Production relocation costs | - | 16 | - | - | 16 | ||||||||||||||||
Total general and administrative | 77 | 16 | 4 | 3 | 100 | ||||||||||||||||
Total restructuring | $ | 77 | $ | 1,549 | $ | 14 | $ | 3 | $ | 1,643 | |||||||||||
Restructuring charges included in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2012 are as follows: | |||||||||||||||||||||
Emergency Response Vehicles | Delivery and Service Vehicles | Specialty Vehicles | Other | Total | |||||||||||||||||
Cost of products sold | |||||||||||||||||||||
Asset impairment | $ | - | $ | 4,315 | $ | - | $ | - | $ | 4,315 | |||||||||||
Accrual for severance | 74 | - | 127 | - | 201 | ||||||||||||||||
Production relocation costs | - | 1,244 | - | - | 1,244 | ||||||||||||||||
Total cost of products sold | 74 | 5,559 | 127 | - | 5,760 | ||||||||||||||||
General and Administrative | |||||||||||||||||||||
Asset impairment | - | 1,153 | - | - | 1,153 | ||||||||||||||||
Accrual for severance | 277 | - | 420 | 59 | 756 | ||||||||||||||||
Production relocation costs | - | 67 | - | - | 67 | ||||||||||||||||
Total general and administrative | 277 | 1,220 | 420 | 59 | 1,976 | ||||||||||||||||
Total restructuring | $ | 351 | $ | 6,779 | $ | 547 | $ | 59 | $ | 7,736 | |||||||||||
As a result of the then planned move of the delivery and service vehicles operations to Bristol, Indiana, the Company classified certain buildings and related machinery and equipment within its Wakarusa, Indiana facility as held for sale. During the nine months ended September 30, 2012, the buildings and machinery and equipment were adjusted to their then current fair values less cost to sell, as determined by a market appraisal completed in March of 2012, resulting in impairment charges of $4,525. On December 31, 2012, the Company completed the sale of certain buildings and the associated land at its Wakarusa, Indiana facility. At September 30, 2013 and December 31, 2012, one building at the Wakarusa, Indiana facility was recorded as held-for-sale at its estimated selling price less costs to sell within Assets held for sale on the Condensed Consolidated Balance Sheets. | |||||||||||||||||||||
The following table provides a summary of the outstanding balances to be paid out in relation to compensation related restructuring charges previously incurred: | |||||||||||||||||||||
Severance | |||||||||||||||||||||
Balance as of Jan 1, 2013 | $ | 630 | |||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (379 | ) | |||||||||||||||||||
Balance as of March 31, 2013 | 251 | ||||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (140 | ) | |||||||||||||||||||
Balance as of June 30,2013 | 111 | ||||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (106 | ) | |||||||||||||||||||
Balance as of September 30,2013 | $ | 5 | |||||||||||||||||||
Note_5_Commitments_and_Conting
Note 5 - Commitments and Contingent Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
NOTE 5 - COMMITMENTS AND CONTINGENT LIABILITIES | |||||||||
Under the terms of its credit agreement with its banks, the Company has the ability to issue letters of credit totaling $10,000. The balance of letters of credit outstanding was $3,509 at September 30, 2013 and $200 at December 31, 2012, related to the Company’s workers compensation insurance and certain emergency response vehicle body contracts. | |||||||||
At September 30, 2013, the Company and its subsidiaries were parties, both as plaintiff and defendant, to a number of lawsuits and claims arising out of the normal course of their businesses. In the opinion of management, the financial position, future operating results or cash flows of the Company will not be materially affected by the final outcome of these legal proceedings. | |||||||||
Chassis Agreements | |||||||||
Utilimaster is party to a chassis bailment inventory agreement with GM which allows GM to draw up to $5,000 against the Company’s revolving credit line for chassis placed at Utilimaster. As a result of this agreement, there was $2,199 and $3,718 outstanding on the Company’s revolving credit line at September 30, 2013 and December 31, 2012. Under the terms of the bailment inventory agreement, these chassis never become the property of Utilimaster, and the amount drawn against the credit line will be repaid by a GM dealer at the time an order is placed for a Utilimaster body, utilizing a GM chassis. As such, the chassis and the related draw on the line of credit are not reflected in the accompanying Condensed Consolidated Balance Sheets. See Note 3 Debt for further information on the Company’s revolving line of credit. | |||||||||
Contingent Consideration | |||||||||
In connection with the acquisition of Utilimaster in November, 2009, the Company incurred contingent obligations through 2014 in the form of certain performance-based earn-out payments, up to an aggregate maximum amount of $7,000. Through September 30, 2013, the Company has made earn-out payments totaling $3,820, leaving an aggregate maximum amount of future payments of $3,180 as of September 30, 2013. The Company has recorded a contingent liability for the estimated fair value of the future consideration of $1,904 based upon the likelihood of the payments, discounted to September 30, 2013. The contingent liability includes credits of $217 and $82 for the three and nine months ended September 30, 2013, which are recorded within Selling, general and administrative on the Condensed Consolidated Statements of Operations. The credits are a result of adjustments recorded in the third quarter to reduce the liability to its anticipated fair value at September 30, 2013. Management believes that the Company has sufficient liquidity to fund the contingent obligations as they become due. | |||||||||
Warranty Related | |||||||||
The Company’s subsidiaries all provide limited warranties against assembly/construction defects. These warranties generally provide for the replacement or repair of defective parts or workmanship for a specified period following the date of sale. The end users also may receive limited warranties from suppliers of components that are incorporated into the Company’s chassis and vehicles. | |||||||||
Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. Infrequently, a material warranty issue can arise which is beyond the scope of the Company’s historical experience. The Company provides for any such warranty issues as they become known and are estimable. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters beyond the scope of the Company’s historical experience. | |||||||||
In April, 2013, management determined that a recall related to certain of the Company’s motor home chassis would be necessary. While the exact impact of the recall has not yet been determined, the Company believes the cost of the recall will be between $1,000 and $2,500. In accordance with accounting guidance, an accrual of $1,000 was recorded during the nine month period ended September 30, 2013, which is reflected within Cost of products sold in the Condensed Consolidated Statement of Operations. | |||||||||
Changes in the Company’s warranty liability during the nine months ended September 30, 2013 and 2012 were as follows: | |||||||||
2013 | 2012 | ||||||||
Balance of accrued warranty at January 1 | $ | 6,062 | $ | 5,802 | |||||
Warranties issued during the period | 2,671 | 3,020 | |||||||
Cash settlements made during the period | (3,352 | ) | (3,452 | ) | |||||
Changes in liability for pre-existing warranties during the period, including expirations | 2,052 | 892 | |||||||
Balance of accrued warranty at September 30 | $ | 7,433 | $ | 6,262 | |||||
Note_6_Earnings_Loss_Per_Share
Note 6 - Earnings (Loss) Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 6 – EARNINGS (LOSS) PER SHARE | |||||||||||||||||
The following table presents a reconciliation of the weighted average shares outstanding used in the Net earnings (loss) per share (“EPS”) calculation: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic weighted average common shares outstanding | 34,133 | 33,374 | 33,502 | 33,795 | |||||||||||||
Effect of dilutive stock options | 49 | - | - | 29 | |||||||||||||
Diluted weighted average common shares outstanding | 34,182 | 33,374 | 33,502 | 33,824 | |||||||||||||
Anti-dilutive stock awards: | |||||||||||||||||
Restricted stock | - | 642 | 544 | - | |||||||||||||
Stock options | - | 239 | 40 | 231 | |||||||||||||
- | 881 | 584 | 231 | ||||||||||||||
Stock awards noted as anti-dilutive were not included in the basic (Restricted stock awards) and diluted (stock option awards) weighted average common shares outstanding. Although these stock awards were not included in the Company’s calculation of basic or diluted EPS, they may have a dilutive effect on the EPS calculation in future periods if the price of the common stock is at a sufficient level or the Company reports net income. |
Note_7_Business_Segments
Note 7 - Business Segments | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||||
NOTE 7 - BUSINESS SEGMENTS | |||||||||||||||||||||||
The Company’s operations are managed through three operating segments based on product: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Vehicles. The reportable segments have been identified based on the financial data utilized by the Company’s chief operating decision maker to assess segment performance and allocate resources among the operating units. | |||||||||||||||||||||||
The Emergency Response Vehicles segment consists of the emergency response chassis operations of Spartan Chassis and the operations of Crimson, Crimson Aerials, and Classic Fire. This segment engineers and manufactures emergency response chassis and bodies. | |||||||||||||||||||||||
The Delivery and Service Vehicles segment consists of Utilimaster and focuses on designing and manufacturing walk-in vans for the delivery and service market and the production of commercial truck bodies along with related aftermarket parts and assemblies. | |||||||||||||||||||||||
The Specialty Vehicles segment consists of the Spartan Chassis operations that engineer and manufacture motor home chassis, defense vehicles and other specialty chassis and distribute related aftermarket parts and assemblies. | |||||||||||||||||||||||
Appropriate expense amounts are allocated to the three reportable segments and are included in their reported operating income or loss. | |||||||||||||||||||||||
The accounting policies of the segments are the same as those described, or referred to, in Note 1 - General and Summary of Accounting Policies. Assets and related depreciation expense in the column labeled “Other” pertain to capital assets maintained at the corporate level. Segment loss from operations in the “Other” column contains corporate related expenses not allocable to the operating segments. Interest expense and Taxes on income are not included in the information utilized by the chief operating decision makers to assess segment performance and allocate resources, and accordingly, are excluded from the segment results presented below. Intercompany transactions between operating segments were immaterial in all periods presented. | |||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 18,675 | $ | - | $ | - | $ | - | $ | 18,675 | |||||||||||||
Emergency Response Body Sales | 24,227 | - | - | - | 24,227 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 49,453 | - | - | 49,453 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 21,126 | - | 21,126 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 1,769 | - | 1,769 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 5,476 | 5,348 | - | 10,824 | ||||||||||||||||||
Total Sales | $ | 42,902 | $ | 54,929 | $ | 28,243 | $ | - | $ | 126,074 | |||||||||||||
Depreciation and Amortization Expense | $ | 347 | $ | 1,062 | $ | 361 | $ | 621 | $ | 2,391 | |||||||||||||
Operating Income (Loss) | $ | 726 | $ | 1,276 | $ | 1,613 | $ | (1,803 | ) | $ | 1,812 | ||||||||||||
Segment Assets | $ | 79,840 | $ | 81,728 | $ | 29,750 | $ | 64,594 | $ | 255,912 | |||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 19,772 | $ | - | $ | - | $ | - | $ | 19,772 | |||||||||||||
Emergency Response Body Sales | 20,118 | - | - | - | 20,118 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 40,329 | - | - | 40,329 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 17,129 | - | 17,129 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 1,279 | - | 1,279 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 8,696 | 5,534 | - | 14,230 | ||||||||||||||||||
Total Sales | $ | 39,890 | $ | 49,025 | $ | 23,942 | $ | - | $ | 112,857 | |||||||||||||
Depreciation and Amortization Expense | $ | 396 | $ | 688 | $ | 473 | $ | 672 | $ | 2,229 | |||||||||||||
Operating Income (Loss) | $ | 89 | $ | 600 | $ | 504 | $ | (1,468 | ) | $ | (275 | ) | |||||||||||
Segment Assets | $ | 71,798 | $ | 85,118 | $ | 24,483 | $ | 77,107 | $ | 258,506 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 61,836 | $ | - | $ | - | $ | - | $ | 61,836 | |||||||||||||
Emergency Response Body Sales | 59,797 | - | - | - | 59,797 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 114,274 | - | - | 114,274 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 61,902 | - | 61,902 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 8,525 | - | 8,525 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 16,723 | 20,027 | - | 36,750 | ||||||||||||||||||
Total Sales | $ | 121,633 | $ | 130,997 | $ | 90,454 | $ | - | $ | 343,084 | |||||||||||||
Depreciation and Amortization Expense | $ | 1,083 | $ | 2,714 | $ | 1,187 | $ | 1,958 | $ | 6,942 | |||||||||||||
Operating Income (Loss) | $ | (1,398 | ) | $ | (4,334 | ) | $ | 6,841 | $ | (5,058 | ) | $ | (3,949 | ) | |||||||||
Segment Assets | $ | 79,840 | $ | 81,728 | $ | 29,750 | $ | 64,594 | $ | 255,912 | |||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 62,278 | $ | - | $ | - | $ | - | $ | 62,278 | |||||||||||||
Emergency Response Body Sales | 55,111 | - | - | - | 55,111 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 103,757 | - | - | 103,757 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 51,715 | - | 51,715 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 6,410 | - | 6,410 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 51,867 | 14,949 | - | 66,816 | ||||||||||||||||||
Total Sales | $ | 117,389 | $ | 155,624 | $ | 73,074 | $ | - | $ | 346,087 | |||||||||||||
Depreciation and Amortization Expense | $ | 1,320 | $ | 2,025 | $ | 1,504 | $ | 2,021 | $ | 6,870 | |||||||||||||
Operating Income (Loss) | $ | (3,256 | ) | $ | 8,157 | $ | 994 | $ | (5,705 | ) | $ | 190 | |||||||||||
Segment Assets | $ | 71,798 | $ | 85,118 | $ | 24,483 | $ | 77,107 | $ | 258,506 | |||||||||||||
Note_8_Taxes
Note 8 - Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
NOTE 8 - TAXES | |
The Company’s effective tax rate was 70.5% and 20.0% for the three and nine months ended September 30, 2013. | |
The Company recorded income tax expense of $1,343 during the three months ended September 30, 2013, which included Q3 2013 income tax expense of $381, or 20.0% of the quarter’s pre-tax income, and a year-to-date adjustment of $962 to increase the tax provision for the first half of 2013 to the Company’s current estimated effective tax rate of 20.0%. | |
The Company’s effective tax rate was (83.7)% and 97.6% for the three and nine months ended September 30, 2012. The effective tax rate for the three and nine months ended September 30, 2012 was unfavorably affected by an increase in the reserves for uncertain tax liabilities, in accordance with ASC Topic 740 “Income Taxes”, in the amount of $218 as a result of a state court ruling that occurred in the third quarter of 2012. This event was not normal or recurring in nature, and as such was a discrete event for tax purposes, with the entire impact of the uncertain tax position taken into account in the third quarter of 2012. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently issued accounting standards | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). ASU 2013-11 amends the guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss (“NOL”) carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. ASU 2013-11 is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. The Company does not believe that the adoption of the provisions of ASU 2013-11 will have a material impact on its consolidated financial position, results of operations or cash flows. |
Note_2_Inventories_Tables
Note 2 - Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Finished goods | $ | 15,269 | $ | 15,276 | |||||
Work in process | 24,173 | 11,967 | |||||||
Raw materials and purchased components | 45,608 | 43,404 | |||||||
Reserve for slow-moving inventory | (2,676 | ) | (3,056 | ) | |||||
$ | 82,374 | $ | 67,591 |
Note_3_Debt_Tables
Note 3 - Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Note payable to Prudential Investment Management, Inc. Principal due December 1, 2016 with quarterly interest only payments of $68 at 5.46%. Unsecured debt. (1) | $ | 5,000 | $ | 5,000 | |||||
Line of credit revolver (2) | -- | -- | |||||||
Capital lease obligations | 367 | 289 | |||||||
Total debt | 5,367 | 5,289 | |||||||
Less current portion of long-term debt | (92 | ) | (82 | ) | |||||
Total long-term debt | $ | 5,275 | $ | 5,207 | |||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||
2013 | $ | 30 | |||||||
2014 | 76 | ||||||||
2015 | 59 | ||||||||
2016 | 5,062 | ||||||||
2017 | 65 | ||||||||
Thereafter | 75 | ||||||||
$ | 5,367 |
Note_4_Restructuring_Tables
Note 4 - Restructuring (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | ||||||||||||||||||||
Emergency Response Vehicles | Delivery and Service Vehicles | Specialty Vehicles | Other | Total | |||||||||||||||||
Cost of products sold | |||||||||||||||||||||
Asset impairment | $ | - | $ | 943 | $ | - | $ | - | $ | 943 | |||||||||||
Accrual for severance | - | - | 10 | - | 10 | ||||||||||||||||
Production relocation costs | - | 590 | - | - | 590 | ||||||||||||||||
Total cost of products sold | - | 1,533 | 10 | - | 1,543 | ||||||||||||||||
General and Administrative | |||||||||||||||||||||
Asset impairment | - | - | - | - | - | ||||||||||||||||
Accrual for severance | 77 | - | 4 | 3 | 84 | ||||||||||||||||
Production relocation costs | - | 16 | - | - | 16 | ||||||||||||||||
Total general and administrative | 77 | 16 | 4 | 3 | 100 | ||||||||||||||||
Total restructuring | $ | 77 | $ | 1,549 | $ | 14 | $ | 3 | $ | 1,643 | |||||||||||
Emergency Response Vehicles | Delivery and Service Vehicles | Specialty Vehicles | Other | Total | |||||||||||||||||
Cost of products sold | |||||||||||||||||||||
Asset impairment | $ | - | $ | 4,315 | $ | - | $ | - | $ | 4,315 | |||||||||||
Accrual for severance | 74 | - | 127 | - | 201 | ||||||||||||||||
Production relocation costs | - | 1,244 | - | - | 1,244 | ||||||||||||||||
Total cost of products sold | 74 | 5,559 | 127 | - | 5,760 | ||||||||||||||||
General and Administrative | |||||||||||||||||||||
Asset impairment | - | 1,153 | - | - | 1,153 | ||||||||||||||||
Accrual for severance | 277 | - | 420 | 59 | 756 | ||||||||||||||||
Production relocation costs | - | 67 | - | - | 67 | ||||||||||||||||
Total general and administrative | 277 | 1,220 | 420 | 59 | 1,976 | ||||||||||||||||
Total restructuring | $ | 351 | $ | 6,779 | $ | 547 | $ | 59 | $ | 7,736 | |||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||||||
Severance | |||||||||||||||||||||
Balance as of Jan 1, 2013 | $ | 630 | |||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (379 | ) | |||||||||||||||||||
Balance as of March 31, 2013 | 251 | ||||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (140 | ) | |||||||||||||||||||
Balance as of June 30,2013 | 111 | ||||||||||||||||||||
Accrual for severance | - | ||||||||||||||||||||
Payments and adjustments made in period | (106 | ) | |||||||||||||||||||
Balance as of September 30,2013 | $ | 5 |
Note_5_Commitments_and_Conting1
Note 5 - Commitments and Contingent Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Balance of accrued warranty at January 1 | $ | 6,062 | $ | 5,802 | |||||
Warranties issued during the period | 2,671 | 3,020 | |||||||
Cash settlements made during the period | (3,352 | ) | (3,452 | ) | |||||
Changes in liability for pre-existing warranties during the period, including expirations | 2,052 | 892 | |||||||
Balance of accrued warranty at September 30 | $ | 7,433 | $ | 6,262 |
Note_6_Earnings_Loss_Per_Share1
Note 6 - Earnings (Loss) Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic weighted average common shares outstanding | 34,133 | 33,374 | 33,502 | 33,795 | |||||||||||||
Effect of dilutive stock options | 49 | - | - | 29 | |||||||||||||
Diluted weighted average common shares outstanding | 34,182 | 33,374 | 33,502 | 33,824 | |||||||||||||
Anti-dilutive stock awards: | |||||||||||||||||
Restricted stock | - | 642 | 544 | - | |||||||||||||
Stock options | - | 239 | 40 | 231 | |||||||||||||
- | 881 | 584 | 231 |
Note_7_Business_Segments_Table
Note 7 - Business Segments (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 18,675 | $ | - | $ | - | $ | - | $ | 18,675 | |||||||||||||
Emergency Response Body Sales | 24,227 | - | - | - | 24,227 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 49,453 | - | - | 49,453 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 21,126 | - | 21,126 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 1,769 | - | 1,769 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 5,476 | 5,348 | - | 10,824 | ||||||||||||||||||
Total Sales | $ | 42,902 | $ | 54,929 | $ | 28,243 | $ | - | $ | 126,074 | |||||||||||||
Depreciation and Amortization Expense | $ | 347 | $ | 1,062 | $ | 361 | $ | 621 | $ | 2,391 | |||||||||||||
Operating Income (Loss) | $ | 726 | $ | 1,276 | $ | 1,613 | $ | (1,803 | ) | $ | 1,812 | ||||||||||||
Segment Assets | $ | 79,840 | $ | 81,728 | $ | 29,750 | $ | 64,594 | $ | 255,912 | |||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 19,772 | $ | - | $ | - | $ | - | $ | 19,772 | |||||||||||||
Emergency Response Body Sales | 20,118 | - | - | - | 20,118 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 40,329 | - | - | 40,329 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 17,129 | - | 17,129 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 1,279 | - | 1,279 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 8,696 | 5,534 | - | 14,230 | ||||||||||||||||||
Total Sales | $ | 39,890 | $ | 49,025 | $ | 23,942 | $ | - | $ | 112,857 | |||||||||||||
Depreciation and Amortization Expense | $ | 396 | $ | 688 | $ | 473 | $ | 672 | $ | 2,229 | |||||||||||||
Operating Income (Loss) | $ | 89 | $ | 600 | $ | 504 | $ | (1,468 | ) | $ | (275 | ) | |||||||||||
Segment Assets | $ | 71,798 | $ | 85,118 | $ | 24,483 | $ | 77,107 | $ | 258,506 | |||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 61,836 | $ | - | $ | - | $ | - | $ | 61,836 | |||||||||||||
Emergency Response Body Sales | 59,797 | - | - | - | 59,797 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 114,274 | - | - | 114,274 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 61,902 | - | 61,902 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 8,525 | - | 8,525 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 16,723 | 20,027 | - | 36,750 | ||||||||||||||||||
Total Sales | $ | 121,633 | $ | 130,997 | $ | 90,454 | $ | - | $ | 343,084 | |||||||||||||
Depreciation and Amortization Expense | $ | 1,083 | $ | 2,714 | $ | 1,187 | $ | 1,958 | $ | 6,942 | |||||||||||||
Operating Income (Loss) | $ | (1,398 | ) | $ | (4,334 | ) | $ | 6,841 | $ | (5,058 | ) | $ | (3,949 | ) | |||||||||
Segment Assets | $ | 79,840 | $ | 81,728 | $ | 29,750 | $ | 64,594 | $ | 255,912 | |||||||||||||
Emergency Response Vehicles | Delivery & Service Vehicles | Specialty Vehicles | Other | Consolidated | |||||||||||||||||||
Emergency Response Chassis Sales | $ | 62,278 | $ | - | $ | - | $ | - | $ | 62,278 | |||||||||||||
Emergency Response Body Sales | 55,111 | - | - | - | 55,111 | ||||||||||||||||||
Delivery and Service Vehicle Sales | - | 103,757 | - | - | 103,757 | ||||||||||||||||||
Motorhome Chassis Sales | - | - | 51,715 | - | 51,715 | ||||||||||||||||||
Other Specialty Vehicles Sales | - | - | 6,410 | - | 6,410 | ||||||||||||||||||
Aftermarket Parts and Assemblies Sales | - | 51,867 | 14,949 | - | 66,816 | ||||||||||||||||||
Total Sales | $ | 117,389 | $ | 155,624 | $ | 73,074 | $ | - | $ | 346,087 | |||||||||||||
Depreciation and Amortization Expense | $ | 1,320 | $ | 2,025 | $ | 1,504 | $ | 2,021 | $ | 6,870 | |||||||||||||
Operating Income (Loss) | $ | (3,256 | ) | $ | 8,157 | $ | 994 | $ | (5,705 | ) | $ | 190 | |||||||||||
Segment Assets | $ | 71,798 | $ | 85,118 | $ | 24,483 | $ | 77,107 | $ | 258,506 |
Note_1_General_and_Summary_of_1
Note 1 - General and Summary of Accounting Policies (Details) | Sep. 30, 2013 |
Disclosure Text Block [Abstract] | ' |
Number of Wholly-owned Operating Subsidiaries | 5 |
Note_2_Inventories_Details
Note 2 - Inventories (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Other Inventory, Purchased Goods, Gross | $1,830 | $9,626 |
Other Inventory, Demo, Gross | $9,654 | $9,653 |
Note_2_Inventories_Details_Inv
Note 2 - Inventories (Details) - Inventories (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Finished goods | $15,269 | $15,276 |
Work in process | 24,173 | 11,967 |
Raw materials and purchased components | 45,608 | 43,404 |
Reserve for slow-moving inventory | -2,676 | -3,056 |
$82,374 | $67,591 |
Note_3_Debt_Details
Note 3 - Debt (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | GM [Member] | Prudential Investment Management [Member] | Prudential Investment Management [Member] | Well Fargo Bank and JPMorgan Chase Bank [Member] | Well Fargo Bank and JPMorgan Chase Bank [Member] | Well Fargo Bank and JPMorgan Chase Bank [Member] | ||||
Well Fargo Bank and JPMorgan Chase Bank [Member] | Federal Funds Effective Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Note 3 - Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||
Debt Instrument, Unused Borrowing Capacity, Amount | ' | ' | ' | $45,000 | ' | ' | ' | ' | ||
MinimumIncrementsInPrivatePlacementNotes | ' | ' | ' | 5,000 | ' | ' | ' | ' | ||
Unsecured Debt | 5,000 | [1] | 5,000 | [1] | ' | 5,000 | 5,000 | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | 70,000 | ||
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' | ||
Debt Instrument, Reference Rate, Term | ' | ' | ' | ' | ' | ' | ' | '1 month | ||
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | ' | ' | 5,000 | ' | ' | ' | ' | ' | ||
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | 65,000 | ||
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | 3.25% | ||
Line of Credit Facility, Current Borrowing Capacity | $20,500 | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The Company has a private shelf agreement with Prudential Investment Management, Inc., which allows the Company to borrow up to $45,000 to be issued in $5,000 minimum increments. The interest rate is determined based on applicable rates at the time of issuance. The Company had $5,000 of private placement notes outstanding at September 30, 2013 and December 31, 2012 with Prudential Investment Management, Inc. |
Note_3_Debt_Details_Longterm_D
Note 3 - Debt (Details) - Long-term Debt (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Long-term Debt [Abstract] | ' | ' | ||
Note payable to Prudential Investment Management, Inc. Principal due December 1, 2016 with quarterly interest only payments of $68 at 5.46%. Unsecured debt. (1) | $5,000 | [1] | $5,000 | [1] |
Line of credit revolver (2) | ' | [2] | ' | [2] |
Capital lease obligations | 367 | 289 | ||
Total debt | 5,367 | 5,289 | ||
Less current portion of long-term debt | -92 | -82 | ||
Total long-term debt | $5,275 | $5,207 | ||
[1] | The Company has a private shelf agreement with Prudential Investment Management, Inc., which allows the Company to borrow up to $45,000 to be issued in $5,000 minimum increments. The interest rate is determined based on applicable rates at the time of issuance. The Company had $5,000 of private placement notes outstanding at September 30, 2013 and December 31, 2012 with Prudential Investment Management, Inc. | |||
[2] | The Company's primary line of credit is a $70,000 unsecured revolving line with Wells Fargo Bank and JPMorgan Chase Bank, expiring on December 16, 2016. Both lending institutions equally share this commitment. This line carries an interest rate of the higher of either (i) the highest of prime rate, the federal funds effective rate plus 0.5%, or the one month adjusted LIBOR plus 1.00%; or (ii) adjusted LIBOR plus margin based upon the Company's ratio of debt to earnings from time to time. The Company had no borrowings on this line at September 30, 2013 or December 31, 2012. General Motors Company ("GM") has the ability to draw up to $5,000 against the Company's primary line of credit in relation to chassis supplied to Utilimaster under a chassis bailment inventory program, resulting in net available borrowings of up to $65,000 at September 30, 2013, subject to certain leverage ratio and interest coverage ratio covenants. See Note 5, Commitments and Contingent Liabilities for further information about this chassis bailment inventory program. The applicable borrowing rate including margin was 3.25% at September 30, 2013. |
Note_3_Debt_Details_Longterm_D1
Note 3 - Debt (Details) - Long-term Debt (Parentheticals) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Long-term Debt [Abstract] | ' | ' |
NotP5 payablP5 to PrudP5ntial InvP5stmP5nt ManagP5mP5nt, Inc., quartP5rly intP5rP5st (in Dollars) | $68 | $68 |
NotP5 payablP5 to PrudP5ntial InvP5stmP5nt ManagP5mP5nt, Inc., intP5rP5st ratP5 | 5.46% | 5.46% |
Note_3_Debt_Details_The_LongTe
Note 3 - Debt (Details) - The Long-Term Debt Due (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
The Long-Term Debt Due [Abstract] | ' |
2013 | $30 |
2014 | 76 |
2015 | 59 |
2016 | 5,062 |
2017 | 65 |
Thereafter | 75 |
$5,367 |
Note_4_Restructuring_Details
Note 4 - Restructuring (Details) (Buildings and Machinery and Equipment [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
Buildings and Machinery and Equipment [Member] | ' |
Note 4 - Restructuring (Details) [Line Items] | ' |
Impairment of Long-Lived Assets to be Disposed of | $4,525 |
Note_4_Restructuring_Details_R
Note 4 - Restructuring (Details) - Restructuring charges (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | $1,543 | $5,760 |
Restructuring charges, general and administrative | 100 | 1,976 |
Total restructuring | 1,643 | 7,736 |
Emergency Response Vehicles [Member] | Accrual for Severance [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | ' | 74 |
Restructuring charges, general and administrative | 77 | 277 |
Emergency Response Vehicles [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | ' | 74 |
Restructuring charges, general and administrative | 77 | 277 |
Total restructuring | 77 | 351 |
Delivery and Service Vehicles [Member] | Asset Impairment [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 943 | 4,315 |
Restructuring charges, general and administrative | ' | 1,153 |
Delivery and Service Vehicles [Member] | Production Relocation Costs [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 590 | 1,244 |
Restructuring charges, general and administrative | 16 | 67 |
Delivery and Service Vehicles [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 1,533 | 5,559 |
Restructuring charges, general and administrative | 16 | 1,220 |
Total restructuring | 1,549 | 6,779 |
Specialty Vehicles [Member] | Accrual for Severance [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 10 | 127 |
Restructuring charges, general and administrative | 4 | 420 |
Specialty Vehicles [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 10 | 127 |
Restructuring charges, general and administrative | 4 | 420 |
Total restructuring | 14 | 547 |
Other Segments [Member] | Accrual for Severance [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, general and administrative | 3 | 59 |
Other Segments [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, general and administrative | 3 | 59 |
Total restructuring | 3 | 59 |
Asset Impairment [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 943 | 4,315 |
Restructuring charges, general and administrative | ' | 1,153 |
Accrual for Severance [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 10 | 201 |
Restructuring charges, general and administrative | 84 | 756 |
Production Relocation Costs [Member] | ' | ' |
Note 4 - Restructuring (Details) - Restructuring charges [Line Items] | ' | ' |
Restructuring charges, cost of products sold | 590 | 1,244 |
Restructuring charges, general and administrative | $16 | $67 |
Note_4_Restructuring_Details_S
Note 4 - Restructuring (Details) - Summary of the Compensation Related Charges Incurred (Employee Severance [Member], USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 |
Employee Severance [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Balance | $111 | $251 | $630 |
Payments and adjustments made in period | -106 | -140 | -379 |
Balance | $5 | $111 | $251 |
Note_5_Commitments_and_Conting2
Note 5 - Commitments and Contingent Liabilities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 30, 2009 |
Bailment Inventory Agreement with GM [Member] | Bailment Inventory Agreement with GM [Member] | Product Recall Cost [Member] | Utilimaster [Member] | Utilimaster [Member] | Utilimaster [Member] | ||||||
Note 5 - Commitments and Contingent Liabilities (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit, Maximum | $10,000 | ' | $10,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | 3,509 | ' | 3,509 | ' | 200 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Capacity Available for Trade Purchases | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | 2,199 | 3,718 | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | ' | ' | ' | 3,180 | 3,180 | 7,000 |
Payments for Previous Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,820 | ' |
Business Combination, Contingent Consideration, Revised Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | 1,904 | 1,904 | ' |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | ' | ' | -83 | 966 | ' | ' | ' | ' | -217 | -82 | ' |
Loss Contingency, Range of Possible Loss, Minimum | 1,000 | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Range of Possible Loss, Maximum | 2,500 | ' | 2,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of Goods Sold | $109,943 | $98,346 | $304,981 | $294,871 | ' | ' | ' | $1,000 | ' | ' | ' |
Note_5_Commitments_and_Conting3
Note 5 - Commitments and Contingent Liabilities (Details) - Changes in the Companybs Warranty Liability (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Changes in the Companybs Warranty Liability [Abstract] | ' | ' |
Balance | $6,062 | $5,802 |
Warranties issued during the period | 2,671 | 3,020 |
Cash settlements made during the period | -3,352 | -3,452 |
Changes in liability for pre-existing warranties during the period, including expirations | 2,052 | 892 |
Balance | $7,433 | $6,262 |
Note_6_Earnings_Loss_Per_Share2
Note 6 - Earnings (Loss) Per Share (Details) - Reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Shares Outstanding | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 6 - Earnings (Loss) Per Share (Details) - Reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Shares Outstanding [Line Items] | ' | ' | ' | ' |
Basic weighted average common shares outstanding | 34,133 | 33,374 | 33,502 | 33,795 |
Effect of dilutive stock options | 49 | ' | ' | 29 |
Diluted weighted average common shares outstanding | 34,182 | 33,374 | 33,502 | 33,824 |
Antidilutive Securities | ' | 881 | 584 | 231 |
Restricted Stock [Member] | ' | ' | ' | ' |
Note 6 - Earnings (Loss) Per Share (Details) - Reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Shares Outstanding [Line Items] | ' | ' | ' | ' |
Antidilutive Securities | ' | 642 | 544 | ' |
Equity Option [Member] | ' | ' | ' | ' |
Note 6 - Earnings (Loss) Per Share (Details) - Reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Shares Outstanding [Line Items] | ' | ' | ' | ' |
Antidilutive Securities | ' | 239 | 40 | 231 |
Note_7_Business_Segments_Detai
Note 7 - Business Segments (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Operating Segments | 3 |
Number of Reportable Segments | 3 |
Note_7_Business_Segments_Detai1
Note 7 - Business Segments (Details) - Segment Reporting Information (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | $126,074 | $112,857 | $343,084 | $346,087 | ' |
Depreciation and Amortization Expense | 2,391 | 2,229 | 6,942 | 6,870 | ' |
Operating Income (Loss) | 1,812 | -275 | -3,949 | 190 | ' |
Segment Assets | 255,912 | 258,506 | 255,912 | 258,506 | 245,151 |
Emergency Response Chassis [Member] | Emergency Response Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 18,675 | 19,772 | 61,836 | 62,278 | ' |
Emergency Response Chassis [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 18,675 | 19,772 | 61,836 | 62,278 | ' |
Emergency Response Body [Member] | Emergency Response Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 24,227 | 20,118 | 59,797 | 55,111 | ' |
Emergency Response Body [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 24,227 | 20,118 | 59,797 | 55,111 | ' |
Delivery and Service Vehicle [Member] | Delivery and Service Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 49,453 | 40,329 | 114,274 | 103,757 | ' |
Delivery and Service Vehicle [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 49,453 | 40,329 | 114,274 | 103,757 | ' |
Motorhome Chassis [Member] | Specialty Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 21,126 | 17,129 | 61,902 | 51,715 | ' |
Motorhome Chassis [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 21,126 | 17,129 | 61,902 | 51,715 | ' |
Other Specialty Vehicles [Member] | Specialty Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 1,769 | 1,279 | 8,525 | 6,410 | ' |
Other Specialty Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 1,769 | 1,279 | 8,525 | 6,410 | ' |
Aftermarket Parts and Assemblies [Member] | Delivery and Service Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 5,476 | 8,696 | 16,723 | 51,867 | ' |
Aftermarket Parts and Assemblies [Member] | Specialty Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 5,348 | 5,534 | 20,027 | 14,949 | ' |
Aftermarket Parts and Assemblies [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 10,824 | 14,230 | 36,750 | 66,816 | ' |
Emergency Response Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 42,902 | 39,890 | 121,633 | 117,389 | ' |
Depreciation and Amortization Expense | 347 | 396 | 1,083 | 1,320 | ' |
Operating Income (Loss) | 726 | 89 | -1,398 | -3,256 | ' |
Segment Assets | 79,840 | 71,798 | 79,840 | 71,798 | ' |
Delivery and Service Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 54,929 | 49,025 | 130,997 | 155,624 | ' |
Depreciation and Amortization Expense | 1,062 | 688 | 2,714 | 2,025 | ' |
Operating Income (Loss) | 1,276 | 600 | -4,334 | 8,157 | ' |
Segment Assets | 81,728 | 85,118 | 81,728 | 85,118 | ' |
Specialty Vehicles [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment Reporting Revenue | 28,243 | 23,942 | 90,454 | 73,074 | ' |
Depreciation and Amortization Expense | 361 | 473 | 1,187 | 1,504 | ' |
Operating Income (Loss) | 1,613 | 504 | 6,841 | 994 | ' |
Segment Assets | 29,750 | 24,483 | 29,750 | 24,483 | ' |
Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Depreciation and Amortization Expense | 621 | 672 | 1,958 | 2,021 | ' |
Operating Income (Loss) | -1,803 | -1,468 | -5,058 | -5,705 | ' |
Segment Assets | $64,594 | $77,107 | $64,594 | $77,107 | ' |
Note_8_Taxes_Details
Note 8 - Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
Note 8 - Taxes (Details) [Line Items] | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 70.50% | -83.70% | 20.00% | 20.00% | 97.60% |
Income Tax Expense (Benefit) (in Dollars) | $1,343 | $149 | ' | ($750) | $362 |
Current Income Tax Expense (Benefit) (in Dollars) | 381 | ' | ' | ' | ' |
Tax Adjustments, Settlements, and Unusual Provisions (in Dollars) | ' | 218 | ' | ' | ' |
Year-to-date Adjustment [Member] | ' | ' | ' | ' | ' |
Note 8 - Taxes (Details) [Line Items] | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) (in Dollars) | ' | ' | ' | $962 | ' |