The Shyft Group, Inc. (SHYF) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0000743238
Entity Registrant Name	SHYFT GROUP, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-33582
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-2078923
Entity Address, Address Line One	41280 Bridge Street
Entity Address, City or Town	Novi
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48375
City Area Code	517
Local Phone Number	543-6400
Title of 12(b) Security	Common Stock
Trading Symbol	SHYF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,350,265

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,178	$ 20,995
Accounts receivable, less allowance of $136 and $116	101,879	64,695
Contract assets	15,370	9,414
Inventories, net	68,420	46,428
Other receivables – chassis pool agreements	13,983	6,503
Other current assets	8,859	8,172
Total current assets	212,689	156,207
Property, plant and equipment, net	54,335	45,734
Right of use assets – operating leases	41,905	43,430
Goodwill	48,677	49,481
Intangible assets, net	54,684	56,386
Other assets	1,162	2,052
Net deferred tax asset	5,625	5,759
TOTAL ASSETS	419,077	359,049
Current liabilities:
Accounts payable	74,749	47,487
Accrued warranty	6,623	5,633
Accrued compensation and related taxes	17,799	17,134
Deposits from customers	377	756
Operating lease liability	7,495	7,508
Other current liabilities and accrued expenses	9,774	8,121
Short-term debt – chassis pool agreements	13,983	6,503
Current portion of long-term debt	253	221
Total current liabilities	131,053	93,363
Other non-current liabilities	4,628	5,447
Long-term operating lease liability	35,182	36,662
Long-term debt, less current portion	23,198	23,418
Total liabilities	194,061	158,890
Commitments and contingent liabilities
Shareholders’ equity:
Preferred stock; 2,000 shares authorized (none issued)	0	0
Common stock; 80,000 shares authorized; 35,346 and 35,344 outstanding	92,309	91,044
Retained earnings	131,853	109,286
Total The Shyft Group, Inc. shareholders’ equity	224,162	200,330
Non-controlling interest	854	(171)
Total shareholders’ equity	225,016	200,159
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 419,077	$ 359,049

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accounts receivable, allowance	$ 136	$ 116
Preferred stock, authorized (in shares)	2,000	2,000
Preferred stock, issued (in shares)	0	0
Common stock, shares authorized (in shares)	80,000	80,000
Common stock, shares outstanding (in shares)	35,346	35,344

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Sales	$ 243,982	$ 123,970	$ 441,870	$ 300,918
Cost of products sold	192,076	99,965	349,978	240,612
Gross profit	51,906	24,005	91,892	60,306
Operating expenses:
Research and development	940	1,130	1,722	2,672
Selling, general and administrative	28,740	24,610	53,277	46,009
Total operating expenses	29,680	25,740	54,999	48,681
Operating income (loss)	22,226	(1,735)	36,893	11,625
Other income (expense):
Interest expense	(227)	(460)	(57)	(1,191)
Interest and other income	506	515	689	5
Total other income (expense)	279	55	632	(1,186)
Income (loss) from continuing operations before income taxes	22,505	(1,680)	37,525	10,439
Income tax expense (benefit)	5,552	(546)	9,042	(169)
Income (loss) from continuing operations	16,953	(1,134)	28,483	10,608
Income (loss) from discontinued operations, net of income taxes	0	(157)	81	(4,021)
Net income (loss)	16,953	(1,291)	28,564	6,587
Less: net income attributable to non-controlling interest	990	70	1,025	137
Net income (loss) attributable to The Shyft Group Inc.	$ 15,963	$ (1,361)	$ 27,539	$ 6,450
Basic earnings (loss) per share
Continuing operations, Basic (in dollars per share)	$ 0.45	$ (0.03)	$ 0.78	$ 0.29
Discontinued operations, Basic (in dollars per share)	0	(0.01)	0	(0.11)
Basic earnings (loss) per share (in dollars per share)	0.45	(0.04)	0.78	0.18
Diluted earnings (loss) per share
Continuing operations, Diluted (in dollars per share)	0.44	(0.03)	0.76	0.29
Discontinued operations, Diluted (in dollars per share)	0	(0.01)	0	(0.11)
Diluted earnings (loss) per share (in dollars per share)	$ 0.44	$ (0.04)	$ 0.76	$ 0.18
Basic weighted average common shares outstanding (in shares)	35,333	35,512	35,322	35,456
Diluted weighted average common shares outstanding (in shares)	36,190	35,512	36,191	35,693

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 28,564	$ 6,587
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	5,330	8,144
Non-cash stock based compensation expense	4,492	4,258
Deferred income taxes	134	12,307
Loss on sale of business	0	2,138
(Gain) on disposal of assets	(105)	0
Loss from write-off of construction in process	0	2,430
Changes in accounts receivable and contract assets	(42,639)	(13,642)
Changes in inventories	(21,992)	1,997
Changes in accounts payable	27,721	(12,626)
Changes in accrued compensation and related taxes	665	(3,911)
Changes in accrued warranty	989	(366)
Change in other assets and liabilities	69	(19,030)
Net cash provided by (used in) operating activities	3,228	(11,714)
Cash flows from investing activities:
Purchases of property, plant and equipment	(12,373)	(5,966)
Proceeds from sale of property, plant and equipment	15	0
Acquisition of business, net of cash acquired	404	152
Proceeds from sale of business	0	55,000
Net cash provided by (used in) investing activities	(11,954)	49,186
Cash flows from financing activities:
Proceeds from long-term debt	15,000	16,000
Payments on long-term debt	(15,000)	(46,000)
Payment of dividends	(1,776)	(1,775)
Purchase and retirement of common stock	(3,348)	0
Exercise and vesting of stock incentive awards	(2,967)	(1,153)
Net cash used in financing activities	(8,091)	(32,928)
Net increase (decrease) in cash and cash equivalents	(16,817)	4,544
Cash and cash equivalents at beginning of period	20,995	19,349
Cash and cash equivalents at end of period	$ 4,178	$ 23,893

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2019	35,344
Balance at Dec. 31, 2019	$ 353	$ 85,148	$ 86,764	$ (518)	$ 171,747
Issuance of common stock and tax impact of stock incentive plan (in shares)	4
Issuance of common stock and tax impact of stock incentive plan	$ 0	55	0	0	55
Issuance of restricted stock, net of cancellation (in shares)	127
Issuance of restricted stock, net of cancellation	$ 1	0	0	0	1
Non-cash stock based compensation expense	0	2,132	0	0	2,132
Net income (loss)	$ 0	0	7,811	67	7,878
Balance (in shares) at Mar. 31, 2020	35,475
Balance at Mar. 31, 2020	$ 354	87,335	94,575	(451)	181,813
Balance (in shares) at Dec. 31, 2019	35,344
Balance at Dec. 31, 2019	$ 353	85,148	86,764	(518)	171,747
Net income (loss)					6,587
Balance (in shares) at Jun. 30, 2020	35,559
Balance at Jun. 30, 2020	$ 355	88,250	91,439	(381)	179,663
Balance (in shares) at Mar. 31, 2020	35,475
Balance at Mar. 31, 2020	$ 354	87,335	94,575	(451)	181,813
Issuance of common stock and tax impact of stock incentive plan (in shares)	4
Issuance of common stock and tax impact of stock incentive plan	$ 0	(1,209)	0	0	(1,209)
Dividends declared	$ 0	0	(1,775)	0	(1,775)
Issuance of restricted stock, net of cancellation (in shares)	80
Issuance of restricted stock, net of cancellation	$ 1	(2)	0	0	(1)
Non-cash stock based compensation expense	0	2,126	0	0	2,126
Net income (loss)	$ 0	0	(1,361)	70	(1,291)
Balance (in shares) at Jun. 30, 2020	35,559
Balance at Jun. 30, 2020	$ 355	88,250	91,439	(381)	179,663
Balance (in shares) at Dec. 31, 2020	35,344
Balance at Dec. 31, 2020	$ 91,044	0	109,286	(171)	200,159
Issuance of common stock and tax impact of stock incentive plan (in shares)	3
Issuance of common stock and tax impact of stock incentive plan	$ (2,255)	0	0	0	(2,255)
Dividends declared	$ 0	0	(983)	0	(983)
Purchase and retirement of common stock (in shares)	(100)
Purchase and retirement of common stock	$ (260)	0	(3,088)	0	(3,348)
Issuance of restricted stock, net of cancellation (in shares)	61
Issuance of restricted stock, net of cancellation	$ 0	0	0	0	0
Non-cash stock based compensation expense	1,642	0	0	0	1,642
Net income (loss)	$ 0	0	11,576	35	11,611
Balance (in shares) at Mar. 31, 2021	35,308
Balance at Mar. 31, 2021	$ 90,171	0	116,791	(136)	206,826
Balance (in shares) at Dec. 31, 2020	35,344
Balance at Dec. 31, 2020	$ 91,044	0	109,286	(171)	200,159
Net income (loss)					28,564
Balance (in shares) at Jun. 30, 2021	35,346
Balance at Jun. 30, 2021	$ 92,309	0	131,853	854	225,016
Balance (in shares) at Mar. 31, 2021	35,308
Balance at Mar. 31, 2021	$ 90,171	0	116,791	(136)	206,826
Issuance of common stock and tax impact of stock incentive plan (in shares)	2
Issuance of common stock and tax impact of stock incentive plan	$ (712)	0	0	0	(712)
Dividends declared	$ 0	0	(901)	0	(901)
Issuance of restricted stock, net of cancellation (in shares)	36
Issuance of restricted stock, net of cancellation	$ 0	0	0	0	0
Non-cash stock based compensation expense	2,850	0	0	0	2,850
Net income (loss)	$ 0	0	15,963	990	16,953
Balance (in shares) at Jun. 30, 2021	35,346
Balance at Jun. 30, 2021	$ 92,309	$ 0	$ 131,853	$ 854	$ 225,016

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Dividends declared (in dollars per share)	$ 0.025	$ 0.025	$ 0.05

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	NOTE 1 – N ATURE OF OPERATIONS AND BASIS OF PRESENTATION For a description of key accounting policies followed, refer to the notes to The Shyft Group, Inc. consolidated financial statements for the year ended December 31, 2020, 10 March 25, 2021. Nature of Operations We are a niche market leader in specialty vehicle manufacturing and assembly for the commercial vehicle (including last-mile delivery, specialty service and vocation-specific upfit segments) and recreational vehicle industries. Our products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, luxury Class A diesel motor home chassis and contract manufacturing and assembly services. We also supply replacement parts and offer repair, maintenance, field service and refurbishment services for the vehicles that we manufacture. Our operating activities are conducted through our wholly-owned operating subsidiary, The Shyft Group USA, Inc., with locations in Novi and Charlotte, Michigan; Bristol, Indiana; Waterville, Maine; Ephrata, Pennsylvania; North Charleston, South Carolina; Pompano Beach and West Palm Beach, Florida; Kansas City, Missouri; Montebello, Carson and McClellan Park, California; Mesa, Arizona; Dallas and Weatherford, Texas; and Saltillo, Mexico. The accompanying unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments that are necessary for the fair presentation of our financial position as of June 30, 2021, three six June 30, 2021. 10 December 31, 2020. three six June 30, 2021, not Recent Developments In March 2020, 19” 19, March 23, 2020, third 2020, may 19 The full impact of the COVID- 19 19 not 19 On October 1, 2020, F3 2019 Recently Adopted Accounting Standards Effective January 1, 2021, 2019 12 740 740 2019 12 not Supplemental Disclosures of Cash Flow Information Non-cash investing in the six June 30, 2021, 5 Debt

Note 2 - Discontinued Operation

Note 2 - Discontinued Operations	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 2 On February 1, 2020, September 2020, October 1, 2020. six June 30, 2020, three six June 30, 2020. may 2022. The Income (loss) from discontinued operations presented in the Condensed Consolidated Statement of Operations are summarized below: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sales $ - $ - $ - $ 19,167 Cost of products sold - - - 18,678 Gross profit - - - 489 Operating expenses - 281 - 4,404 Operating loss - (281 ) - (3,915 ) Other income (expense) - - 109 (2,138 ) Loss from discontinued operations before taxes - (281 ) 109 (6,053 ) Income tax (expense) benefit - 124 (28 ) 2,032 Net income (loss) from discontinued operations $ - $ (157 ) $ 81 $ (4,021 ) Total depreciation and amortization and capital expenditures for the discontinued operations are summarized below: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Depreciation and amortization $ - $ - $ - $ 284 Capital expenditures $ - $ - $ - $ 84

Note 3 - Acquisition Activities

Note 3 - Acquisition Activities	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE 3 On October 1, 2020, F3 January 2021, June 2021, 5 Debt Purchase Price Allocation The DuraMag acquisition was accounted for using the acquisition method of accounting with the purchase price allocated to the assets purchased and liabilities assumed based upon their estimated fair values at the date of acquisition. Identifiable intangible assets include customer relationships, DuraMag and Magnum trade names and trademarks, unpatented technology and non-competition agreements. The preliminary excess of the purchase price over the estimated fair values of the net tangible and intangible assets acquired of $5,197 was recorded as goodwill, which is expected to be deductible for tax purposes. The fair values of the net assets acquired were based on a preliminary valuation and the estimates and assumptions are subject to change within the measurement period. The Company will finalize the purchase price allocation for adjustments related to accrued warranty and certain other liabilities that we believe to be insignificant as soon as practicable within the measurement period, but in no one As of June 30, 2021, Accounts receivable $ 2,230 Inventories 3,659 Other current assets 15 Property, plant and equipment 2,949 Right of use assets-operating leases 8,469 Intangible assets 5,590 Goodwill 5,197 Total assets acquired 28,109 Accounts payable (1,662 ) Accrued compensation and related taxes (434 ) Current operating lease liabilities (644 ) Other current liabilities and accrued expenses (241 ) Long-term operating lease liability (7,825 ) Long-term debt (4 ) Total liabilities assumed (10,810 ) Total purchase price $ 17,299 Goodwill and Intangible Assets Assigned Intangible assets totaling $5,590 have provisionally been assigned to customer relationships, trade names and trademarks, unpatented technology and non-competition agreements as a result of the acquisition and consist of the following: Amount Useful Life Customer relationships $ 2,200 15 Years Trade names and trademarks 2,420 Indefinite Unpatented technology 540 9 Years Non-competition agreements 430 6 Years $ 5,590 The Company amortizes the customer relationships utilizing an accelerated approach and unpatented technology and non-competition agreements assets utilizing a straight-line approach. Amortization expense, including the intangible assets, recorded from the DuraMag acquisition is $69 and $139 for the three six June 30, 2021. Goodwill consists of operational synergies that are expected to be realized in both the short and long-term and the opportunity to enter into new markets which will enable us to increase value to our customers and shareholders. Key areas of expected cost savings include an expanded dealer network, complementary product portfolios and manufacturing and supply chain work process improvements. Due to its insignificant size relative to the Company, supplemental pro forma financial information of the combined entity for the prior reporting period is not

Note 4 - Inventories

Note 4 - Inventories	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 4 – INVENTORIES Inventories are summarized as follows: June 30, 2021 December 31, 2020 Finished goods $ 2,619 $ 4,200 Work in process 3,709 1,908 Raw materials and purchased components 67,180 46,576 Reserve (5,088 ) (6,256 ) Total inventories, net $ 68,420 $ 46,428

Note 5 - Debt

Note 5 - Debt	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 5 – DEBT Short-term debt consists of the following: June 30, 2021 December 31, 2020 Chassis pool agreements $ 13,983 $ 6,503 Total short-term debt $ 13,983 $ 6,503 Chassis Pool Agreements The Company obtains certain vehicle chassis for its walk-in vans, truck bodies and specialty vehicles directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers, and in some cases, for unallocated orders. The agreements generally state that the manufacturer will provide a supply of chassis to be maintained at the Company’s facilities with the condition that we will store such chassis and will not not not June 30, 2021 December 31, 2020, Other receivables – chassis pool agreements Short-term debt – chassis pool agreements 90 Long-term debt consists of the following: June 30, 2021 December 31, 2020 Line of credit revolver $ 22,400 $ 22,400 Finance lease obligation 416 473 Other 635 766 Total debt 23,451 23,639 Less current portion of long-term debt (253 ) (221 ) Total long-term debt $ 23,198 $ 23,418 Line of Credit Revolver On August 8, 2018, May 14, 2019, September 9, 2019 September 25, 2019 January 31, 2020, fourth April 20, 2021 July 16, 2021 fifth sixth not As a result, at June 30, 2021, may August 8, 2023. may June 30, 2021. one 1.0%; one June 30, 2021. June 30, 2021 December 31, 2020, Under the terms of our Credit Agreement, available borrowings (exclusive of outstanding borrowings) totaled $115,841 and $125,836 at June 30, 2021 December 31, 2020, June 30, 2021 December 31, 2020,

Note 6 - Revenue

Note 6 - Revenue	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 6 – REVENUE Changes in our contract assets and liabilities are summarized below: June 30, 2021 June 30, 2020 Contract Assets Contract assets, beginning of period $ 9,414 $ 10,898 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (9,401 ) (10,558 ) Contract assets recognized, net of reclassification to receivables 15,357 14,028 Contract assets, end of period $ 15,370 $ 14,368 Contract Liabilities Contract liabilities, beginning of period $ 756 $ 2,640 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (740 ) (2,576 ) Cash received in advance and not recognized as revenue 361 486 Contract liabilities, end of period $ 377 $ 550 The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the Fleet Vehicles and Services (“FVS”) and Specialty Vehicles (“SV”) segments are $660,908 and $90,516 respectively, with substantially all revenue expected to be recognized within one June 30, 2021. In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments. Three Months Ended June 30, 2021 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 167,236 $ 75,678 $ 242,914 $ - $ 242,914 Other 1,037 31 1,068 - 1,068 Total sales $ 168,273 $ 75,709 $ 243,982 $ - $ 243,982 Timing of revenue recognition Products transferred at a point in time $ 11,312 $ 46,293 $ 57,606 $ - $ 57,606 Products and services transferred over time 156,961 29,416 186,376 - 186,376 Total sales $ 168,273 $ 75,709 $ 243,982 $ - $ 243,982 Three Months Ended June 30, 2020 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 96,184 $ 26,694 $ 122,878 $ - $ 122,878 Other 1,054 38 1,092 - 1,092 Total sales $ 97,238 $ 26,732 $ 123,970 $ - $ 123,970 Timing of revenue recognition Products transferred at a point in time $ 11,279 $ 16,033 $ 27,312 $ - $ 27,312 Products and services transferred over time 85,959 10,699 96,658 - 96,658 Total sales $ 97,238 $ 26,732 $ 123,970 $ - $ 123,970 Six Months Ended June 30, 2021 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 296,315 $ 141,874 $ 438,189 $ - $ 438,189 Other 3,631 50 3,681 - 3,681 Total sales $ 299,946 $ 141,924 $ 441,870 $ - $ 441,870 Timing of revenue recognition Products transferred at a point in time $ 21,069 $ 85,630 $ 106,699 $ - $ 106,699 Products and services transferred over time 278,877 56,294 335,171 - 335,171 Total sales $ 299,946 $ 141,924 $ 441,870 $ - $ 441,870 Six Months Ended June 30, 2020 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 229,081 $ 67,769 $ 296,850 $ - $ 296,850 Other 3,845 223 4,068 - 4,068 Total sales $ 232,926 $ 67,992 $ 300,918 $ - $ 300,918 Timing of revenue recognition Products transferred at a point in time $ 33,536 $ 40,767 $ 74,303 $ - $ 74,303 Products and services transferred over time 199,390 27,225 226,615 - 226,615 Total sales $ 232,926 $ 67,992 $ 300,918 $ - $ 300,918

Note 7 - Property, Plant and Eq

Note 7 - Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 7 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are summarized by major classifications as follows: June 30, 2021 December 31, 2020 Land and improvements $ 8,721 $ 8,721 Buildings and improvements 41,834 40,077 Plant machinery and equipment 44,021 41,054 Furniture and fixtures 17,082 16,259 Vehicles 2,566 2,404 Construction in process 15,374 8,724 Subtotal 129,598 117,239 Less accumulated depreciation (75,263 ) (71,505 ) Total property, plant and equipment, net $ 54,335 $ 45,734 We recorded depreciation expense of $1,899 and $4,447 during the three June 30, 2021 2020, six June 30, 2021 2020, second 2020, three six June 30, 2020.

Note 8 - Leases

Note 8 - Leases	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE 8 – LEASES We have operating and finance leases for land, buildings and certain equipment. Our leases have remaining lease terms of one not 5 Debt Operating lease expenses are classified as Cost of products sold and Operating expenses on the Condensed Consolidated Statements of Operations. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30 2021 2020 2021 2020 Operating leases $ 1,982 $ 1,510 $ 3,936 $ 3,106 Short-term leases (1) 128 68 166 84 Total lease expense $ 2,110 $ 1,578 $ 4,102 $ 3,190 ( 1 not one The weighted average remaining lease term and weighted average discount rate were as follows: Six Months Ended June 30 2021 2020 Weighted average remaining lease term of operating leases (in years) 9.1 8.3 Weighted average discount rate of operating leases 3.1 % 3.8 % Supplemental cash flow information related to leases was as follows: Six Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 1,942 $ 3,127 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,147 $ - Finance leases $ 106 $ 136 Maturities of operating lease liabilities as of June 30, 2021 Years ending December 31: 2021 (1) $ 3,986 2022 7,194 2023 6,917 2024 6,577 2025 5,796 Thereafter 18,590 Total lease payments 49,060 Less: imputed interest (6,383 ) Total lease liabilities $ 42,677 ( 1 six June 30, 2021.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 9 COMMITMENTS AND CONTINGENT LIABILITIES At June 30, 2021, not Warranty Related We 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 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 our historical experience. We provide 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 our historical experience. An estimate of possible penalty or loss, if any, cannot be made at this time. Changes in our warranty liability are summarized below: Six Months Ended June 30, 2021 2020 Balance of accrued warranty at January 1 $ 5,633 $ 5,694 Provisions for current period sales 1,950 1,377 Cash settlements (1,898 ) (991 ) Changes in liability for pre-existing warranties 938 (753 ) Balance of accrued warranty at June 30 $ 6,623 $ 5,327 Spartan-Gimaex Joint Venture In February 2015, June 2021, not EPA Information Request In May 2020, January 1, 2017 May 2020. third 2020.

Note 10 - Taxes on Income

Note 10 - Taxes on Income	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 10 – TAXES ON INCOME Our effective income tax rate was 24.7% and 32.5% for the three June 30, 2021 2020, six June 30, 2021 2020, The effective tax rate of 24.7% 24.1% three six June 30, 2021, The effective tax rate of 32.5% three June 30, 2020 21% six June 30, 2020 March 27, 2020, five 2018 2020. first 2020 2019. 2018 21% first 2020.

Note 11 - Business Segments

Note 11 - Business Segments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 11 We identify our reportable segments based on our management structure and the financial data utilized by our chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two We evaluate the performance of our reportable segments based on Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and it is calculated by excluding items that we believe to be infrequent or not not The accounting policies of the segments are the same as those described, or referred to, in "Note 1 – Nature of Operations and Basis of Presentation not not Three Months Ended June 30, 2021 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 159,826 $ - $ - $ 159,826 Motor home chassis sales - 40,891 - 40,891 Other specialty vehicle sales - 29,415 - 29,415 Aftermarket parts and accessories sales 8,447 5,403 - 13,850 Total sales $ 168,273 $ 75,709 $ - $ 243,982 Depreciation and amortization expense $ 737 $ 1,553 $ 469 $ 2,759 Adjusted EBITDA 28,287 8,637 (8,354 ) 28,570 Segment assets 197,479 197,876 23,722 419,077 Capital expenditures 3,866 320 311 4,497 Three Months Ended June 30, 2020 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 90,762 $ - $ - $ 90,762 Motor home chassis sales - 14,048 - 14,048 Other specialty vehicle sales - 10,929 - 10,929 Aftermarket parts and accessories sales 6,476 1,755 - 8,231 Total sales $ 97,238 $ 26,732 $ - $ 123,970 Depreciation and amortization expense $ 1,692 $ 857 $ 2,794 $ 5,343 Adjusted EBITDA 13,652 1,219 (5,521 ) 9,350 Segment assets 151,892 140,654 59,247 351,793 Capital expenditures 2,934 559 40 3,533 Six Months Ended June 30, 2021 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 284,701 $ - $ - $ 284,701 Motor home chassis sales - 76,159 - 76,159 Other specialty vehicle sales - 56,294 - 56,294 Aftermarket parts and accessories sales 15,245 9,471 - 24,716 Total sales $ 299,946 $ 141,924 $ - $ 441,870 Depreciation and amortization expense $ 1,378 $ 3,140 $ 812 $ 5,330 Adjusted EBITDA 46,497 15,653 (14,409 ) 47,741 Segment assets 197,479 197,876 23,722 419,077 Capital expenditures 8,645 2,688 603 11,936 Six Months Ended June 30, 2020 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 214,735 $ - $ - $ 214,735 Motor home chassis sales - 36,650 - 36,650 Other specialty vehicle sales - 27,715 - 27,715 Aftermarket parts and accessories sales 18,191 3,627 - 21,818 Total sales $ 232,926 $ 67,992 $ - $ 300,918 Depreciation and amortization expense $ 2,492 $ 2,047 $ 3,321 $ 7,860 Adjusted EBITDA 35,388 4,940 (12,602 ) 27,726 Segment assets 151,892 140,654 59,247 351,793 Capital expenditures 3,824 1,689 370 5,883 The table below presents the reconciliation of our income from continuing operations to Adjusted EBITDA. Adjusted EBITDA is not not may not may not not Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Income (loss) from continuing operations $ 16,953 $ (1,134 ) $ 28,483 $ 10,608 Net (income) attributable to non-controlling interest (990 ) (70 ) (1,025 ) (137 ) Add (subtract): Interest expense 227 460 57 1,191 Depreciation and amortization expense 2,759 5,343 5,330 7,860 Income tax expense (benefit) 5,552 (546 ) 9,042 (169 ) Restructuring and other related charges 505 562 505 1,554 Acquisition related expenses and adjustments 71 179 214 272 Non-cash stock based compensation expense 2,850 2,126 4,492 4,117 Loss from liquidation of JV 643 - 643 - Loss from write-off of construction in process - 2,430 - 2,430 Adjusted EBITDA $ 28,570 $ 9,350 $ 47,741 $ 27,726

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards Effective January 1, 2021, 2019 12 740 740 2019 12 not
Supplemental Disclosures of Cash Flow Policy [Policy Text Block]	Supplemental Disclosures of Cash Flow Information Non-cash investing in the six June 30, 2021, 5 Debt

Note 2 - Discontinued Operati_2

Note 2 - Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sales $ - $ - $ - $ 19,167 Cost of products sold - - - 18,678 Gross profit - - - 489 Operating expenses - 281 - 4,404 Operating loss - (281 ) - (3,915 ) Other income (expense) - - 109 (2,138 ) Loss from discontinued operations before taxes - (281 ) 109 (6,053 ) Income tax (expense) benefit - 124 (28 ) 2,032 Net income (loss) from discontinued operations $ - $ (157 ) $ 81 $ (4,021 ) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Depreciation and amortization $ - $ - $ - $ 284 Capital expenditures $ - $ - $ - $ 84

Note 3 - Acquisition Activiti_2

Note 3 - Acquisition Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Accounts receivable $ 2,230 Inventories 3,659 Other current assets 15 Property, plant and equipment 2,949 Right of use assets-operating leases 8,469 Intangible assets 5,590 Goodwill 5,197 Total assets acquired 28,109 Accounts payable (1,662 ) Accrued compensation and related taxes (434 ) Current operating lease liabilities (644 ) Other current liabilities and accrued expenses (241 ) Long-term operating lease liability (7,825 ) Long-term debt (4 ) Total liabilities assumed (10,810 ) Total purchase price $ 17,299
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Amount Useful Life Customer relationships $ 2,200 15 Years Trade names and trademarks 2,420 Indefinite Unpatented technology 540 9 Years Non-competition agreements 430 6 Years $ 5,590

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2021 December 31, 2020 Finished goods $ 2,619 $ 4,200 Work in process 3,709 1,908 Raw materials and purchased components 67,180 46,576 Reserve (5,088 ) (6,256 ) Total inventories, net $ 68,420 $ 46,428

Note 5 - Debt (Tables)

Note 5 - Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Short-term Debt [Table Text Block]	June 30, 2021 December 31, 2020 Chassis pool agreements $ 13,983 $ 6,503 Total short-term debt $ 13,983 $ 6,503
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, 2021 December 31, 2020 Line of credit revolver $ 22,400 $ 22,400 Finance lease obligation 416 473 Other 635 766 Total debt 23,451 23,639 Less current portion of long-term debt (253 ) (221 ) Total long-term debt $ 23,198 $ 23,418

Note 6 - Revenue (Tables)

Note 6 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	June 30, 2021 June 30, 2020 Contract Assets Contract assets, beginning of period $ 9,414 $ 10,898 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (9,401 ) (10,558 ) Contract assets recognized, net of reclassification to receivables 15,357 14,028 Contract assets, end of period $ 15,370 $ 14,368 Contract Liabilities Contract liabilities, beginning of period $ 756 $ 2,640 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (740 ) (2,576 ) Cash received in advance and not recognized as revenue 361 486 Contract liabilities, end of period $ 377 $ 550
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, 2021 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 167,236 $ 75,678 $ 242,914 $ - $ 242,914 Other 1,037 31 1,068 - 1,068 Total sales $ 168,273 $ 75,709 $ 243,982 $ - $ 243,982 Timing of revenue recognition Products transferred at a point in time $ 11,312 $ 46,293 $ 57,606 $ - $ 57,606 Products and services transferred over time 156,961 29,416 186,376 - 186,376 Total sales $ 168,273 $ 75,709 $ 243,982 $ - $ 243,982 Three Months Ended June 30, 2020 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 96,184 $ 26,694 $ 122,878 $ - $ 122,878 Other 1,054 38 1,092 - 1,092 Total sales $ 97,238 $ 26,732 $ 123,970 $ - $ 123,970 Timing of revenue recognition Products transferred at a point in time $ 11,279 $ 16,033 $ 27,312 $ - $ 27,312 Products and services transferred over time 85,959 10,699 96,658 - 96,658 Total sales $ 97,238 $ 26,732 $ 123,970 $ - $ 123,970 Six Months Ended June 30, 2021 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 296,315 $ 141,874 $ 438,189 $ - $ 438,189 Other 3,631 50 3,681 - 3,681 Total sales $ 299,946 $ 141,924 $ 441,870 $ - $ 441,870 Timing of revenue recognition Products transferred at a point in time $ 21,069 $ 85,630 $ 106,699 $ - $ 106,699 Products and services transferred over time 278,877 56,294 335,171 - 335,171 Total sales $ 299,946 $ 141,924 $ 441,870 $ - $ 441,870 Six Months Ended June 30, 2020 FVS SV Total Reportable Segments Other Total Primary geographical markets United States $ 229,081 $ 67,769 $ 296,850 $ - $ 296,850 Other 3,845 223 4,068 - 4,068 Total sales $ 232,926 $ 67,992 $ 300,918 $ - $ 300,918 Timing of revenue recognition Products transferred at a point in time $ 33,536 $ 40,767 $ 74,303 $ - $ 74,303 Products and services transferred over time 199,390 27,225 226,615 - 226,615 Total sales $ 232,926 $ 67,992 $ 300,918 $ - $ 300,918

Note 7 - Property, Plant and _2

Note 7 - Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, 2021 December 31, 2020 Land and improvements $ 8,721 $ 8,721 Buildings and improvements 41,834 40,077 Plant machinery and equipment 44,021 41,054 Furniture and fixtures 17,082 16,259 Vehicles 2,566 2,404 Construction in process 15,374 8,724 Subtotal 129,598 117,239 Less accumulated depreciation (75,263 ) (71,505 ) Total property, plant and equipment, net $ 54,335 $ 45,734

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30 2021 2020 2021 2020 Operating leases $ 1,982 $ 1,510 $ 3,936 $ 3,106 Short-term leases (1) 128 68 166 84 Total lease expense $ 2,110 $ 1,578 $ 4,102 $ 3,190 Six Months Ended June 30 2021 2020 Weighted average remaining lease term of operating leases (in years) 9.1 8.3 Weighted average discount rate of operating leases 3.1 % 3.8 % Six Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 1,942 $ 3,127 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,147 $ - Finance leases $ 106 $ 136
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Years ending December 31: 2021 (1) $ 3,986 2022 7,194 2023 6,917 2024 6,577 2025 5,796 Thereafter 18,590 Total lease payments 49,060 Less: imputed interest (6,383 ) Total lease liabilities $ 42,677

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Six Months Ended June 30, 2021 2020 Balance of accrued warranty at January 1 $ 5,633 $ 5,694 Provisions for current period sales 1,950 1,377 Cash settlements (1,898 ) (991 ) Changes in liability for pre-existing warranties 938 (753 ) Balance of accrued warranty at June 30 $ 6,623 $ 5,327

Note 11 - Business Segments (Ta

Note 11 - Business Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2021 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 159,826 $ - $ - $ 159,826 Motor home chassis sales - 40,891 - 40,891 Other specialty vehicle sales - 29,415 - 29,415 Aftermarket parts and accessories sales 8,447 5,403 - 13,850 Total sales $ 168,273 $ 75,709 $ - $ 243,982 Depreciation and amortization expense $ 737 $ 1,553 $ 469 $ 2,759 Adjusted EBITDA 28,287 8,637 (8,354 ) 28,570 Segment assets 197,479 197,876 23,722 419,077 Capital expenditures 3,866 320 311 4,497 Three Months Ended June 30, 2020 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 90,762 $ - $ - $ 90,762 Motor home chassis sales - 14,048 - 14,048 Other specialty vehicle sales - 10,929 - 10,929 Aftermarket parts and accessories sales 6,476 1,755 - 8,231 Total sales $ 97,238 $ 26,732 $ - $ 123,970 Depreciation and amortization expense $ 1,692 $ 857 $ 2,794 $ 5,343 Adjusted EBITDA 13,652 1,219 (5,521 ) 9,350 Segment assets 151,892 140,654 59,247 351,793 Capital expenditures 2,934 559 40 3,533 Six Months Ended June 30, 2021 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 284,701 $ - $ - $ 284,701 Motor home chassis sales - 76,159 - 76,159 Other specialty vehicle sales - 56,294 - 56,294 Aftermarket parts and accessories sales 15,245 9,471 - 24,716 Total sales $ 299,946 $ 141,924 $ - $ 441,870 Depreciation and amortization expense $ 1,378 $ 3,140 $ 812 $ 5,330 Adjusted EBITDA 46,497 15,653 (14,409 ) 47,741 Segment assets 197,479 197,876 23,722 419,077 Capital expenditures 8,645 2,688 603 11,936 Six Months Ended June 30, 2020 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 214,735 $ - $ - $ 214,735 Motor home chassis sales - 36,650 - 36,650 Other specialty vehicle sales - 27,715 - 27,715 Aftermarket parts and accessories sales 18,191 3,627 - 21,818 Total sales $ 232,926 $ 67,992 $ - $ 300,918 Depreciation and amortization expense $ 2,492 $ 2,047 $ 3,321 $ 7,860 Adjusted EBITDA 35,388 4,940 (12,602 ) 27,726 Segment assets 151,892 140,654 59,247 351,793 Capital expenditures 3,824 1,689 370 5,883
Schedule of Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Income (loss) from continuing operations $ 16,953 $ (1,134 ) $ 28,483 $ 10,608 Net (income) attributable to non-controlling interest (990 ) (70 ) (1,025 ) (137 ) Add (subtract): Interest expense 227 460 57 1,191 Depreciation and amortization expense 2,759 5,343 5,330 7,860 Income tax expense (benefit) 5,552 (546 ) 9,042 (169 ) Restructuring and other related charges 505 562 505 1,554 Acquisition related expenses and adjustments 71 179 214 272 Non-cash stock based compensation expense 2,850 2,126 4,492 4,117 Loss from liquidation of JV 643 - 643 - Loss from write-off of construction in process - 2,430 - 2,430 Adjusted EBITDA $ 28,570 $ 9,350 $ 47,741 $ 27,726

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Capital Expenditures Incurred but Not yet Paid	$ 1,051

Note 2 - Discontinued Operati_3

Note 2 - Discontinued Operations (Details Textual) - Discontinued Operations, Disposed of by Sale [Member] - Disposal of Emergency Response and Vehicle Business [Member] - USD ($) $ in Thousands	Oct. 01, 2020	Feb. 01, 2020	Jun. 30, 2020
Proceeds from Divestiture of Businesses		$ 55,000
Payments for Divestiture of Businesses After Working Capital Adjustment	$ 7,500
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total			$ (2,138)

Note 2 - Discontinued Operati_4

Note 2 - Discontinued Operations - Schedule of Discontinued Operations for Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income (loss) from discontinued operations	$ 0	$ (157)	$ 81	$ (4,021)
Disposal of Emergency Response and Vehicle Business [Member] | Discontinued Operations, Held-for-sale [Member]
Sales	0	0	0	19,167
Cost of products sold	0	0	0	18,678
Gross profit	0	0	0	489
Operating expenses	0	281	0	4,404
Operating loss	0	(281)	0	(3,915)
Other income (expense)	0	0	109	(2,138)
Loss from discontinued operations before taxes	0	(281)	109	(6,053)
Income tax (expense) benefit	0	(124)	28	(2,032)
Net income (loss) from discontinued operations	0	(157)	81	(4,021)
Depreciation and amortization	0	0	0	284
Capital expenditures	$ 0	$ 0	$ 0	$ 84

Note 3 - Acquisition Activiti_3

Note 3 - Acquisition Activities (Details Textual) - DuraMag [Member] - USD ($) $ in Thousands	Oct. 01, 2020	Jun. 30, 2021	Jan. 31, 2021	Jun. 30, 2021	Jun. 30, 2021
Payments to Acquire Businesses, Gross	$ 18,203
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred		$ (500)	$ (404)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	$ 5,590	$ 5,197		$ 5,197	$ 5,197
Amortization of Intangible Assets, Total				$ 69	$ 139

Note 3 - Acquisition Activiti_4

Note 3 - Acquisition Activities - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Oct. 01, 2020
Goodwill	$ 48,677	$ 49,481
DuraMag [Member]
Accounts receivable			$ 2,230
Inventories			3,659
Other current assets			15
Property, plant and equipment			2,949
Right of use assets-operating leases			8,469
Intangible assets	$ 5,197		5,590
Goodwill			5,197
Total assets acquired			28,109
Accounts payable			(1,662)
Accrued compensation and related taxes			(434)
Current operating lease liabilities			(644)
Other current liabilities and accrued expenses			(241)
Long-term operating lease liability			(7,825)
Long-term debt			(4)
Total liabilities assumed			(10,810)
Total purchase price			$ 17,299

Note 3 - Acquisition Activiti_5

Note 3 - Acquisition Activities - Intangible Assets (Details) - DuraMag [Member] $ in Thousands	Oct. 01, 2020USD ($)
Amount	$ 5,590
Trademarks and Trade Names [Member]
Trade names and trademarks	2,420
Customer Relationships [Member]
Amount	$ 2,200
Useful Life (Year)	15 years
Unpatented Technology [Member]
Amount	$ 540
Useful Life (Year)	9 years
Noncompete Agreements [Member]
Amount	$ 430
Useful Life (Year)	6 years

Note 4 - Inventories - Summary

Note 4 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finished goods	$ 2,619	$ 4,200
Work in process	3,709	1,908
Raw materials and purchased components	67,180	46,576
Reserve	(5,088)	(6,256)
Total inventories, net	$ 68,420	$ 46,428

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Short-term Debt, Total	$ 13,983	$ 6,503
Letters of Credit Outstanding, Amount	760	525
Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	175,000
Line of Credit Facility, Potential Increase Borrowing Capacity	$ 50,000
Debt Instrument Reference Rate Term (Month)	1 month
Debt Instrument, Interest Rate During Period	1.38%
Line of Credit Facility, Current Borrowing Capacity	$ 115,841	125,836
Lenders [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Lenders [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Lenders [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000
Lenders [Member] | Swing Line Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity	30,000
Chassis Pool Agreements [Member]
Short-term Debt, Total	$ 13,983	$ 6,503

Note 5 - Debt - Short-term Debt

Note 5 - Debt - Short-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Short-term debt	$ 13,983	$ 6,503
Chassis Pool Agreements [Member]
Short-term debt	$ 13,983	$ 6,503

Note 5 - Debt - Schedule of Lon

Note 5 - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Line of credit revolver	$ 22,400	$ 22,400
Finance lease obligation	416	473
Other	635	766
Total debt	23,451	23,639
Less current portion of long-term debt	(253)	(221)
Total long-term debt	$ 23,198	$ 23,418

Note 6 - Revenue (Details Textu

Note 6 - Revenue (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 $ in Thousands	Jun. 30, 2021USD ($)
Fleet Vehicles and Services [Member]
Revenue, Remaining Performance Obligation, Amount	$ 660,908
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Specialty Vehicles [Member]
Revenue, Remaining Performance Obligation, Amount	$ 90,516
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 6 - Revenue - Contract Ass

Note 6 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Contract assets, beginning of period	$ 9,414	$ 10,898
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional	(9,401)	(10,558)
Contract assets recognized, net of reclassification to receivables	15,357	14,028
Contract assets, end of period	15,370	14,368
Contract liabilities, beginning of period	756	2,640
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(740)	(2,576)
Cash received in advance and not recognized as revenue	361	486
Contract liabilities, end of period	$ 377	$ 550

Note 6 - Revenue - Disaggregate

Note 6 - Revenue - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 243,982	$ 123,970	$ 441,870	$ 300,918
Transferred at Point in Time [Member]
Revenues	57,606	27,312	106,699	74,303
Transferred over Time [Member]
Revenues	186,376	96,658	335,171	226,615
Operating Segments [Member]
Revenues	243,982	123,970	441,870	300,918
Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	57,606	27,312	106,699	74,303
Operating Segments [Member] | Transferred over Time [Member]
Revenues	186,376	96,658	335,171	226,615
Consolidation, Eliminations [Member]
Revenues	0	0	0	0
Consolidation, Eliminations [Member] | Transferred at Point in Time [Member]
Revenues	0	0	0	0
Consolidation, Eliminations [Member] | Transferred over Time [Member]
Revenues	0	0	0	0
Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	168,273	97,238	299,946	232,926
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	11,312	11,279	21,069	33,536
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	156,961	85,959	278,877	199,390
Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	75,709	26,732	141,924	67,992
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	46,293	16,033	85,630	40,767
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	29,416	10,699	56,294	27,225
UNITED STATES
Revenues	242,914	122,878	438,189	296,850
UNITED STATES | Operating Segments [Member]
Revenues	242,914	122,878	438,189	296,850
UNITED STATES | Consolidation, Eliminations [Member]
Revenues	0	0	0	0
UNITED STATES | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	167,236	96,184	296,315	229,081
UNITED STATES | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	75,678	26,694	141,874	67,769
Non-US [Member]
Revenues	1,068	1,092	3,681	4,068
Non-US [Member] | Operating Segments [Member]
Revenues	1,068	1,092	3,681	4,068
Non-US [Member] | Consolidation, Eliminations [Member]
Revenues	0	0	0	0
Non-US [Member] | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	1,037	1,054	3,631	3,845
Non-US [Member] | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	$ 31	$ 38	$ 50	$ 223

Note 7 - Property, Plant and _3

Note 7 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Depreciation, Total	$ 1,899	$ 4,447	$ 3,640	$ 6,261
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property			$ 0	(2,430)
Change in Accounting Estimate, Income Statement Impact		(3,599)		$ (3,599)
Construction in Progress [Member]
Depreciation, Total		2,330
ERP System [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property		$ (2,430)

Note 7 - Property, Plant and _4

Note 7 - Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, plant and equipment, gross	$ 129,598	$ 117,239
Less accumulated depreciation	(75,263)	(71,505)
Total property, plant and equipment, net	54,335	45,734
Land and Land Improvements [Member]
Property, plant and equipment, gross	8,721	8,721
Building and Building Improvements [Member]
Property, plant and equipment, gross	41,834	40,077
Machinery and Equipment [Member]
Property, plant and equipment, gross	44,021	41,054
Furniture and Fixtures [Member]
Property, plant and equipment, gross	17,082	16,259
Vehicles [Member]
Property, plant and equipment, gross	2,566	2,404
Construction in Progress [Member]
Property, plant and equipment, gross	$ 15,374	$ 8,724

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual)	6 Months Ended
	Jun. 30, 2021
Minimum [Member]
Leases, Remaining Lease Terms (Year)	1 year
Maximum [Member]
Leases, Remaining Lease Terms (Year)	19 years
Lessee, Operating Lease, Renewal Term (Year)	15 years

Note 8 - Leases - Lease Expense

Note 8 - Leases - Lease Expense and Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating leases		$ 1,982	$ 1,510	$ 3,936	$ 3,106
Short-term leases(1)	[1]	128	68	166	84
Total lease expense		$ 2,110	$ 1,578	$ 4,102	$ 3,190
Weighted average remaining lease term of operating leases (in years) (Year)		9 years 1 month 6 days	8 years 3 months 18 days	9 years 1 month 6 days	8 years 3 months 18 days
Weighted average discount rate of operating leases		3.10%	3.80%	3.10%	3.80%
Operating cash flow for operating leases				$ 1,942	$ 3,127
Operating leases				2,147	0
Finance leases				$ 106	$ 136
[1]	Includes expenses for month-to-month equipment leases, which are classified as short-term as the Company is not reasonably certain to renew the lease term beyond one month.

Note 8 - Leases - Future Minimu

Note 8 - Leases - Future Minimum Operating Lease Commitments Under Non-cancelable Operating Lease (Details) $ in Thousands	Jun. 30, 2021USD ($)
2021(1)	$ 3,986	[1]
2022	7,194
2023	6,917
2024	6,577
2025	5,796
Thereafter	18,590
Total lease payments	49,060
Less: imputed interest	(6,383)
Total lease liabilities	$ 42,677
[1]	Excluding the six months ended June 30, 2021.

Note 9 - Commitments and Cont_3

Note 9 - Commitments and Contingent Liabilities - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Balance of accrued warranty	$ 5,633	$ 5,694
Provisions for current period sales	1,950	1,377
Cash settlements	(1,898)	(991)
Changes in liability for pre-existing warranties	938	(753)
Balance of accrued warranty	$ 6,623	$ 5,327

Note 10 - Taxes on Income (Deta

Note 10 - Taxes on Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	24.70%	(32.50%)		24.10%	(1.60%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%		35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 2,610

Note 11 - Business Segments (De

Note 11 - Business Segments (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Reportable Segments	2

Note 11 - Business Segments - S

Note 11 - Business Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenues	$ 243,982	$ 123,970	$ 441,870	$ 300,918
Depreciation and amortization expense			5,330	8,144
Segment assets	419,077		419,077		$ 359,049
Capital expenditures			12,373	5,966
Continuing Operations [Member]
Revenues	243,982	123,970	441,870	300,918
Depreciation and amortization expense	2,759	5,343	5,330	7,860
Adjusted EBITDA	28,570	9,350	47,741	27,726
Segment assets	419,077	351,793	419,077	351,793
Capital expenditures	4,497	3,533	11,936	5,883
Fleet Vehicle Sales [Member] | Continuing Operations [Member]
Revenues	159,826	90,762	284,701	214,735
Motorhome Chassis [Member] | Continuing Operations [Member]
Revenues	40,891	14,048	76,159	36,650
Other Specialty Vehicles [Member] | Continuing Operations [Member]
Revenues	29,415	10,929	56,294	27,715
Aftermarket Parts and Accessories Sales [Member] | Continuing Operations [Member]
Revenues	13,850	8,231	24,716	21,818
Operating Segments [Member]
Revenues	243,982	123,970	441,870	300,918
Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	168,273	97,238	299,946	232,926
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Continuing Operations [Member]
Revenues	168,273	97,238	299,946	232,926
Depreciation and amortization expense	737	1,692	1,378	2,492
Adjusted EBITDA	28,287	13,652	46,497	35,388
Segment assets	197,479	151,892	197,479	151,892
Capital expenditures	3,866	2,934	8,645	3,824
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Fleet Vehicle Sales [Member] | Continuing Operations [Member]
Revenues	159,826	90,762	284,701	214,735
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Motorhome Chassis [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Other Specialty Vehicles [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Aftermarket Parts and Accessories Sales [Member] | Continuing Operations [Member]
Revenues	8,447	6,476	15,245	18,191
Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	75,709	26,732	141,924	67,992
Operating Segments [Member] | Specialty Vehicles [Member] | Continuing Operations [Member]
Revenues	75,709	26,732	141,924	67,992
Depreciation and amortization expense	1,553	857	3,140	2,047
Adjusted EBITDA	8,637	1,219	15,653	4,940
Segment assets	197,876	140,654	197,876	140,654
Capital expenditures	320	559	2,688	1,689
Operating Segments [Member] | Specialty Vehicles [Member] | Fleet Vehicle Sales [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Specialty Vehicles [Member] | Motorhome Chassis [Member] | Continuing Operations [Member]
Revenues	40,891	14,048	76,159	36,650
Operating Segments [Member] | Specialty Vehicles [Member] | Other Specialty Vehicles [Member] | Continuing Operations [Member]
Revenues	29,415	10,929	56,294	27,715
Operating Segments [Member] | Specialty Vehicles [Member] | Aftermarket Parts and Accessories Sales [Member] | Continuing Operations [Member]
Revenues	5,403	1,755	9,471	3,627
Segment Reconciling Items [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Depreciation and amortization expense	469	2,794	812	3,321
Adjusted EBITDA	(8,354)	(5,521)	(14,409)	(12,602)
Segment assets	23,722	59,247	23,722	59,247
Capital expenditures	311	40	603	370
Segment Reconciling Items [Member] | Fleet Vehicle Sales [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Segment Reconciling Items [Member] | Motorhome Chassis [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Segment Reconciling Items [Member] | Other Specialty Vehicles [Member] | Continuing Operations [Member]
Revenues	0	0	0	0
Segment Reconciling Items [Member] | Aftermarket Parts and Accessories Sales [Member] | Continuing Operations [Member]
Revenues	$ 0	$ 0	$ 0	$ 0

Note 11 - Business Segments - R

Note 11 - Business Segments - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net (income) attributable to non-controlling interest	$ (990)	$ (70)	$ (1,025)	$ (137)
Interest expense	227	460	57	1,191
Depreciation and amortization expense			5,330	8,144
Income tax expense (benefit)	5,552	(546)	9,042	(169)
Loss from write-off of construction in process			0	(2,430)
Continuing Operations [Member]
Income (loss) from continuing operations	16,953	(1,134)	28,483	10,608
Net (income) attributable to non-controlling interest	(990)	(70)	(1,025)	(137)
Interest expense	227	460	57	1,191
Depreciation and amortization expense	2,759	5,343	5,330	7,860
Income tax expense (benefit)	5,552	(546)	9,042	(169)
Restructuring and other related charges	505	562	505	1,554
Acquisition related expenses and adjustments	71	179	214	272
Non-cash stock based compensation expense	2,850	2,126	4,492	4,117
Loss from liquidation of JV	643	0	643	0
Loss from write-off of construction in process	0	2,430	0	2,430
Adjusted EBITDA	$ 28,570	$ 9,350	$ 47,741	$ 27,726