Patrick Industries (PATK) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 27, 2016	Apr. 22, 2016
Entity Registrant Name	PATRICK INDUSTRIES INC
Entity Central Index Key	76,605
Trading Symbol	patk
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		15,284,245
Document Type	10-Q
Document Period End Date	Mar. 27, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($) $ in Thousands		Mar. 27, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents		$ 10,659	$ 87
Trade receivables, net		67,443	38,213
Inventories		100,080	89,478
Prepaid expenses and other		3,636	6,119
Total current assets		181,818	133,897
Property, plant and equipment, net		70,803	67,878
Goodwill		77,488	68,606
Other intangible assets, net		120,152	106,759
Deferred financing costs, net (Note 3)		1,714	1,690
Deferred tax assets, net (Note 2)		1,754	2,004
Other non-current assets		539	555
TOTAL ASSETS		454,268	381,389
Current Liabilities
Current maturities of long-term debt		10,714	10,714
Accounts payable		48,096	28,744
Accrued liabilities		23,238	18,468
Total current liabilities		82,048	57,926
Long-term debt, less current maturities, net (Note 3)	[1]	230,808	192,947
Deferred compensation and other		1,901	1,919
TOTAL LIABILITIES		314,757	252,792
SHAREHOLDERS’ EQUITY
Common stock		58,217	57,683
Additional paid-in-capital		9,212	8,308
Accumulated other comprehensive income		32	32
Retained earnings		72,050	62,574
TOTAL SHAREHOLDERS’ EQUITY		139,511	128,597
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$ 454,268	$ 381,389
[1]	Excludes unamortized deferred financing costs associated with the Term Loan (in thousands) of $655 and $823 at March 27, 2016 and December 31, 2015, respectively.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
NET SALES	$ 278,637	$ 223,388
Cost of goods sold	233,285	187,994
GROSS PROFIT	45,352	35,394
Operating Expenses:
Warehouse and delivery	7,699	6,659
Selling, general and administrative	14,233	11,519
Amortization of intangible assets	2,768	1,659
(Gain) loss on sale of fixed assets	38	(6)
Total operating expenses	24,738	19,831
OPERATING INCOME	20,614	15,563
Interest expense, net	1,649	804
Income before income taxes	18,965	14,759
Income taxes	6,932	5,609
NET INCOME	$ 12,033	$ 9,150
BASIC NET INCOME PER COMMON SHARE (1) (in dollars per share)	$ 0.81	$ 0.60	[1]
DILUTED NET INCOME PER COMMON SHARE (1) (in dollars per share)	$ 0.80	$ 0.59	[1]
Weighted average shares outstanding - Basic (1) (in shares)	14,948	15,327	[1]
Weighted average shares outstanding - Diluted (1) (in shares)	15,130	15,477	[1]
[1]	Net income per common share and weighted average shares outstanding, on both a basic and diluted basis, reflect the impact of the three-for-two common stock split paid on May 29, 2015.

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 12,033	$ 9,150
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,444	1,891
Amortization of intangible assets	2,768	1,659
Stock-based compensation expense	1,501	1,024
Deferred financing cost amortization	145	101
Deferred income taxes	250	341
(Gain) loss on sale of fixed assets	38	(6)
Other non-cash items	105	106
Change in operating assets and liabilities, net of effects of acquisitions:
Trade receivables	(25,148)	(31,691)
Inventories	(1,663)	(1,301)
Prepaid expenses and other	2,617	3,841
Accounts payable and accrued liabilities	18,938	12,124
Payments on deferred compensation obligations	(75)	(80)
Net cash provided by (used in) operating activities	13,953	(2,841)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2,913)	(1,866)
Proceeds from sale of property and equipment	179	26
Business acquisitions	(36,384)	(39,579)
Other investing activities	(6)	(7)
Net cash used in investing activities	(39,124)	(41,426)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings on revolver	112,424	97,318
Repayments on revolver	(74,731)	(48,613)
Stock repurchases under buyback program	(2,865)	(5,650)
Realization of excess tax benefit on stock-based compensation	$ 942	1,204
Proceeds from exercise of stock options, including tax benefit		16
Other financing activities	$ (27)	(62)
Net cash provided by financing activities	35,743	44,213
Increase (decrease) in cash and cash equivalents	10,572	(54)
Cash and cash equivalents at beginning of year	87	123
Cash and cash equivalents at end of period	$ 10,659	$ 69

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. BASIS OF PRESENTATION In the opinion of Patrick Industries, Inc. (“Patrick” or the “Company”), the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 27, 2016 and December 31, 2015, and its results of operations and cash flows for the three months ended March 27, 2016 and March 29, 2015. Patrick’s unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules or regulations. For a description of significant accounting policies used by the Company in the preparation of its consolidated financial statements, please refer to Note 2 of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The December 31, 2015 condensed consolidated statement of financial position data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Operating results for the first quarter ended March 27, 2016 are not necessarily indicative of the results to be expected for the year ending December 31, 2016. Certain amounts in the prior year’s condensed consolidated financial statements and notes have been reclassified to conform to the current year presentation. See Notes 2 and 3 for additional details. The number of shares and per share amounts for the first quarter ended March 29, 2015 have been retroactively adjusted to reflect the three-for-two stock split of the Company's common stock, which was effected in the form of a common stock dividend paid on May 29, 2015. In preparation of Patrick’s condensed consolidated financial statements as of and for the first quarter ended March 27, 2016, management evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date of issuance of the Form 10-Q for potential recognition or disclosure in the consolidated financial statements.

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance which specifies how and when to recognize revenue as well as providing informative, relevant disclosures. In August 2015, the FASB deferred the effective date of this standard by one year, which would become effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating both the effect of adopting this new accounting guidance and determining the appropriate method of transition it will use to apply the new standard. It has not yet determined the impact, if any, that the implementation of this guidance will have on its condensed consolidated financial statements. Debt Issuance Costs In April 2015, the FASB issued guidance that requires that debt issuance costs be presented in the statement of financial position as a reduction in the carrying amount of debt, consistent with the presentation of debt issuance discounts. The Company adopted this new guidance, on a retrospective basis, in the first quarter of 2016 as required. Total assets and total liabilities on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $0.8 million of deferred financing costs associated with the Term Loan (as defined herein) to the long-term debt, less current maturities, net line on the condensed consolidated statement of financial position. See Note 3 for a description of the impact of the adoption of this guidance on the Company’s condensed consolidated statements of financial position for the periods presented. Income Taxes In November 2015, the FASB issued new accounting guidance that simplifies the presentation of deferred income taxes. Under the new guidance, deferred tax assets and liabilities are required to be classified, on a net basis, as noncurrent on the condensed consolidated statement of financial position. The guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. During the first quarter of 2016, the Company elected to adopt this guidance, thus reclassifying current deferred tax assets to noncurrent, net of deferred tax liabilities, on the condensed consolidated statements of financial position. The prior year reporting period was retrospectively adjusted. Current assets on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $5.8 million of current deferred tax assets to long-term assets. Total assets and total liabilities on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $3.8 million of long-term deferred tax liabilities to long-term deferred tax assets. The adoption of this guidance had no impact on the Company’s condensed consolidated statements of income. Leases In February 2016, the FASB issued new accounting guidance that will require that an entity recognize lease assets and lease liabilities on its balance sheet for leases in excess of one year that were previously classified as operating leases under U.S. GAAP. The guidance also requires companies to disclose in the footnotes to the financial statements information about the amount, timing, and uncertainty for the payments made for the lease agreements. The guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2018 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance and has not yet determined the impact that the implementation of this guidance will have on its condensed consolidated financial statements. Stock Compensation In March 2016, the FASB issued new accounting guidance for share-based payments, which simplifies (i) the income tax consequences related to exercised or vested share-based payment awards; (ii) the classification of awards as assets or liabilities; and (iii) the classification in the condensed consolidated statements of cash flows. This guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance and has not yet determined the impact, if any, that the implementation of this guidance will have on its condensed consolidated financial statements.

Note 3 - Deferred Financing_ De

Note 3 - Deferred Financing/ Debt Issuance Costs	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Debt Issuance Costs [Text Block]	3. DEFERRED FINANCING / DEBT ISSUANCE COSTS The condensed consolidated statements of financial position at March 27, 2016 and December 31, 2015 reflect the reclassification of assets related to deferred financing costs associated with the Term Loan outstanding under the Company’s 2015 Credit Facility (as defined herein) that were reclassified and presented net of long-term debt outstanding. The deferred financing costs related to the 2015 Revolver (as defined herein) were not reclassified to long-term debt and are reflected as a component of non-current assets on the condensed consolidated statements of financial position for the periods presented. The reclassification is the result of the Company’s adoption of new accounting guidance that requires debt issuance costs be presented in the statement of financial position as a reduction in the carrying amount of debt, consistent with the presentation of debt issuance discounts. In the first quarter of 2016, the Company adopted this guidance as required on a retrospective basis. See Note 2 “Debt Issuance Costs” for further details. At both March 27, 2016 and December 31, 2015, the Company had $67.0 million outstanding under its Term Loan, which represented approximately 28% and 33%, respectively, of total debt outstanding at such dates. Unamortized deferred financing costs were $2.4 million and $2.5 million at March 27, 2016 and December 31, 2015, respectively. The following tables illustrate the effect of the change on certain line items within the condensed consolidated statements of financial position for the periods presented. Mar. 27, Dec. 31, (thousands) 2016 2015 Total long-term debt $ 242,177 $ 204,484 Less: deferred financing costs related to Term Loan (655 ) (823 ) Total long-term debt, net of deferred financing costs 241,522 203,661 Less: current maturities of long-term debt (10,714 ) (10,714 ) Total long-term debt, less current maturities, net $ 230,808 $ 192,947 Mar. 27, Dec. 31, (thousands) 2016 2015 Total deferred financing costs $ 2,369 $ 2,513 Less: deferred financing costs related to Term Loan (655 ) (823 ) Deferred financing costs, net $ 1,714 $ 1,690

Note 4 - Inventories

Note 4 - Inventories	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. INVENTORIES Inventories are stated at the lower of cost (First-In, First-Out (FIFO) Method) and net realizable value and consist of the following classes: (thousands) Mar. 27, 2016 Dec. 31, 2015 Raw materials $ 58,965 $ 52,601 Work in process 5,672 5,529 Finished goods 9,568 10,450 Less: reserve for inventory obsolescence (2,227 ) (1,897 ) Total manufactured goods, net 71,978 66,683 Materials purchased for resale (distribution products) 29,872 24,406 Less: reserve for inventory obsolescence (1,770 ) (1,611 ) Total materials purchased for resale (distribution products), net 28,102 22,795 Total inventories $ 100,080 $ 89,478

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. GOODWILL AND INTANGIBLE ASSETS The Company acquired intangible assets in various acquisitions in 2015 and through the first quarter of 2016 that were determined to be business combinations. The goodwill recognized is expected to be deductible for income tax purposes. See Note 6 for further details. Goodwill and other intangible assets are allocated to the Company’s reporting units at the date they are initially recorded. Goodwill and indefinite-lived intangible assets are not amortized but are subject to an impairment test based on their estimated fair value performed annually in the fourth quarter (or under certain circumstances more frequently as warranted). Goodwill impairment testing is performed at the reporting unit level, one level below the business segment . Finite-lived intangible assets that meet certain criteria continue to be amortized over their useful lives and are also subject to an impairment test based on estimated undiscounted cash flows when impairment indicators exist. The Company assesses finite-lived intangible assets for impairment if events or changes in circumstances indicate that the carrying value may exceed the fair value. No impairment was recognized during the first quarter ended March 27, 2016 and March 29, 2015 related to goodwill, indefinite-lived intangible assets or finite-lived intangible assets. There have been no material changes to the method of evaluating impairment related to goodwill, indefinite-lived intangible assets or finite-lived intangible assets during the first three months of 2016. The Company acquired the following intangible assets in various acquisitions in the first three months of 2016: (thousands) Customer Relationships Non-Compete Agreements Trademarks Total Other Intangible Assets Goodwill Total Intangible Assets Parkland Plastics, Inc. $ 7,500 $ 800 $ 2,500 $ 10,800 $ 5,762 $ 16,562 The Progressive Group 3,840 410 1,280 5,530 2,951 8,481 Goodwill Changes in the carrying amount of goodwill for the three months ended March 27, 2016 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 62,285 $ 6,321 $ 68,606 Acquisitions 5,762 2,951 8,713 Other 169 - 169 Balance - March 27, 2016 $ 68,216 $ 9,272 $ 77,488 Other Intangible Assets Other intangible assets are comprised of customer relationships, non-compete agreements and trademarks. Customer relationships and non-compete agreements represent finite-lived intangible assets that have been recorded in the Manufacturing and Distribution segments along with related amortization expense. As of March 27, 2016, the other intangible assets balance of $120.2 million is comprised of $29.3 million of trademarks which have an indefinite life, and therefore, no amortization expense has been recorded, and $90.9 million pertaining to customer relationships and non-compete agreements which are being amortized over periods ranging from 2 to 19 years. For the finite-lived intangible assets attributable to the 2016 acquisitions of Parkland Plastics, Inc. (“Parkland”) and The Progressive Group (“Progressive”), the useful life pertaining to non-compete agreements and to customer relationships for both of these acquisitions was five years and 10 years, respectively. Amortization expense for the Company’s intangible assets in the aggregate was $2.8 million and $1.7 million for the first quarter ended March 27, 2016 and March 29, 2015, respectively. Other intangible assets, net consist of the following as of March 27, 2016 and December 31, 2015: (thousands) Mar. 27, 2016 Weighted Average Useful Life (years) Dec. 31, 2015 Weighted Average Useful Life (years) Customer relationships $ 102,329 10.3 $ 91,164 10.4 Non-compete agreements 10,228 3.5 9,012 3.4 Trademarks 29,267 25,487 141,824 125,663 Less: accumulated amortization (21,672 ) (18,904 ) Other intangible assets, net $ 120,152 $ 106,759 Changes in the carrying value of other intangible assets for the three months ended March 27, 2016 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 95,359 $ 11,400 $ 106,759 Acquisitions 10,800 5,530 16,330 Amortization (2,316 ) (452 ) (2,768 ) Other (169 ) - (169 ) Balance - March 27, 2016 $ 103,674 $ 16,478 $ 120,152

Note 6 - Acquisitions

Note 6 - Acquisitions	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	6. A CQUISITIONS General The Company completed two acquisitions in the first three months of 2016 and three acquisitions in 2015, including one in the first three months of 2015. Each of the acquisitions was funded through borrowings under the Company’s credit facility in existence at the time of acquisition. Assets acquired and liabilities assumed in the individual acquisitions were recorded on the Company’s condensed consolidated statements of financial position at their estimated fair values as of the respective dates of acquisition. For each acquisition, the excess of the purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which represents the value of leveraging the Company’s existing purchasing, manufacturing, sales, and systems resources with the organizational talent and expertise of the acquired companies’ respective management teams to maximize efficiencies, revenue impact, market share growth, and net income. Intangible asset values were estimated using income based valuation methodologies. See Note 5 for information regarding the amortization periods assigned to finite-lived intangible assets. For the first quarter ended March 27, 2016, revenue and operating income of approximately $3.8 million and $0.4 million, respectively, were included in the Company’s condensed consolidated statements of income relating to the two businesses acquired in the first three months of 2016. Acquisition-related costs associated with the businesses acquired in the first three months of 2016 were immaterial. For the first quarter ended March 29, 2015, revenue and operating income of approximately $6.5 million and $0.8 million, respectively, were included in the Company’s condensed consolidated statements of income relating to the business acquired in the first three months of 2015. Acquisition-related costs associated with the business acquired in the first three months of 2015 were immaterial. 2016 Acquisitions Parkland In February 2016, the Company acquired the business and certain assets of Middlebury, Indiana-based Parkland, a fully integrated designer, manufacturer and distributor of innovative polymer-based products including wall panels, lay-in ceiling panels, coated and rolled floors, protective moulding, and adhesives and accessories, used in a wide range of applications primarily in the recreational vehicle (“RV”), architectural and industrial markets, for a net purchase price of $25.4 million. The acquisition of Parkland provides the opportunity for the Company to establish a presence in the polymer-based products market and increase its product offering, market share and per unit content. The results of operations for Parkland are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are expected to be finalized in the second half of 2016. The following summarizes the estimated fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (thousands) Trade receivables $ 2,984 Inventories 5,280 Property, plant and equipment 2,550 Prepaid expenses 96 Accounts payable and accrued liabilities (2,100 ) Intangible assets 10,800 Goodwill 5,762 Total net assets acquired $ 25,372 Progressive In March 2016, the Company acquired the business and certain assets of Progressive, a distributor and manufacturer's representative for major name brand electronics to small, mid-size and large retailers, distributors, and custom installers, primarily serving the auto and home electronics retail, custom integration, and commercial channels, for a net purchase price of $11.0 million. The acquisition of Progressive, with six distribution facilities located in Arizona, Colorado, Indiana, Michigan and Utah, provides the opportunity for the Company to expand its product offerings in its existing electronics platform and increase its market share and per unit content. The results of operations for Progressive are included in the Company’s condensed consolidated financial statements and the Distribution operating segment from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are expected to be finalized in the second half of 2016. The following summarizes the estimated fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (thousands) Trade receivables $ 1,099 Inventories 3,659 Property, plant and equipment 100 Prepaid expenses 61 Accounts payable and accrued liabilities (2,388 ) Intangible assets 5,530 Goodwill 2,951 Total net assets acquired $ 11,012 2015 Acquisitions Better Way Partners, LLC d/b/a Better Way Products (“Better Way”) In February 2015, the Company acquired the business and certain assets of Better Way, a manufacturer of fiberglass front and rear caps, marine helms and related fiberglass components primarily used in the RV, marine and transit vehicle markets, for a net purchase price of $40.5 million. The acquisition of Better Way, with operating facilities located in New Paris, Bremen and Syracuse, Indiana, provided the opportunity for the Company to further expand its presence in the fiberglass components market and increase its product offerings, market share and per unit content. The results of operations for Better Way are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The following summarizes the fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (thousands) Trade receivables $ 4,901 Inventories 1,829 Property, plant and equipment 3,907 Prepaid expenses 80 Accounts payable and accrued liabilities (1,349 ) Intangible assets 20,030 Goodwill 11,087 Total net assets acquired $ 40,485 Structural Composites of Indiana, Inc. (“SCI”) In May 2015, the Company acquired the business and certain assets of Ligonier, Indiana-based SCI, a manufacturer of large, custom molded fiberglass front and rear caps and roofs, primarily used in the RV market, and specialty fiberglass components for the transportation, marine and other industrial markets, for a net purchase price of $20.0 million. The acquisition of SCI provided the opportunity for the Company to further expand its presence in the fiberglass components market and increase its product offerings, market share and per unit content. The results of operations for SCI are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The following summarizes the fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (thousands) Trade receivables $ 1,407 Inventories 482 Property, plant and equipment 750 Prepaid expenses 5 Accounts payable and accrued liabilities (734 ) Intangible assets 9,535 Goodwill 8,596 Total net assets acquired $ 20,041 North American Forest Products, Inc. and North American Moulding, LLC (collectively, “North American”) In September 2015, the Company acquired the business and certain assets of Edwardsburg, Michigan-based North American, a manufacturer and distributor, primarily for the RV market, of profile wraps, custom mouldings, laminated panels and moulding products. North American is also a manufacturer and supplier of raw and processed softwoods products, including lumber, panels, trusses, bow trusses, and industrial packaging materials, primarily used in the RV and manufactured housing (“MH”) industries. The Company acquired North American for a net purchase price of $79.7 million. The acquisition of North American provided the opportunity for the Company to further expand its existing presence in the manufacture of laminated panels and moulding products and increase its product offerings, market share and per unit content, and provided a new opportunity in the softwoods lumber market. The results of operations for North American are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The purchase price allocation and all required purchase accounting adjustments were finalized in the first quarter of 2016, with no material changes from previously reported estimated amounts. The following summarizes the fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (thousands) Trade receivables $ 8,924 Inventories 19,189 Property, plant and equipment 5,959 Prepaid expenses 139 Accounts payable and accrued liabilities (8,209 ) Intangible assets 36,185 Goodwill 17,463 Total net assets acquired $ 79,650 Pro Forma Information The following pro forma information for the first quarter ended March 27, 2016 and March 29, 2015 assumes the Parkland and Progressive acquisitions (which were acquired in 2016) and the Better Way, SCI and North American acquisitions (which were acquired in 2015) occurred as of the beginning of the year immediately preceding each such acquisition. The pro forma information contains the actual operating results of Parkland, Progressive, Better Way, SCI, and North American, combined with the results prior to their respective acquisition dates, adjusted to reflect the pro forma impact of the acquisitions occurring as of the beginning of the year immediately preceding each such acquisition. The pro forma information includes financing and interest expense charges based on the actual incremental borrowings incurred in connection with each transaction as if it occurred as of the beginning of the year immediately preceding each such acquisition. In addition, the pro forma information includes amortization expense, in the aggregate, related to intangible assets acquired in connection with the transactions of $0.2 million and $1.4 million for the first quarter ended March 27, 2016 and March 29, 2015, respectively. First Quarter Ended Mar. 27, Mar. 29, (thousands except per share data) 2016 2015 Revenue $ 288,172 $ 297,068 Net income 13,039 12,999 Basic net income per common share 0.87 0.85 Diluted net income per common share 0.86 0.84 The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time, nor is it intended to be a projection of future results.

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	7 . STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with fair value recognition provisions. The Company recorded compensation expense of $1.5 million and $1.0 million for the first quarters ended The Board of Directors (the “Board”) approved the following share grants in 2015 under the Company’s 2009 Omnibus Incentive Plan (the “Plan”): 127,629 shares on February 16, 2015, 300 shares on April 1, 2015, 12,064 shares on May 19, 2015, 447 shares on August 13, 2015, 2,250 shares on October 8, 2015, and 3,000 shares on October 12, 2015. In addition, on March 30, 2015, the beginning of the Company’s fiscal second quarter, the Board granted 22,000 restricted stock units (“RSUs”). The Board approved the following share grants under the Plan in the first three months of 2016: 133,187 shares on February 23, 2016 and 3,500 shares on March 2, 2016. In addition, on February 23, 2016, the Board granted 22,000 RSUs. As of March 27, 2016, there was approximately $10.8 million of total unrecognized compensation cost related to stock-based compensation arrangements granted under incentive plans. That cost is expected to be recognized over a weighted-average period of 20.2 months.

Note 8 - Net Income Per Common

Note 8 - Net Income Per Common Share	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	8 . NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding, plus the dilutive effect of stock options, stock appreciation rights, and restricted stock units (collectively “Common Stock Equivalents”). The dilutive effect of Common Stock Equivalents is calculated under the treasury stock method using the average market price for the period. Certain Common Stock Equivalents were not included in the computation of diluted net income per common share because the exercise prices of those Common Stock Equivalents were greater than the average market price of the common shares. The number of shares and per share amounts Income per common share is calculated for the first quarter periods as follows: Mar. 27, Mar. 29, (thousands except per share data) 2016 2015 Net income for basic and diluted per share calculation $ 12,033 $ 9,150 Weighted average common shares outstanding - basic 14,948 15,327 Effect of potentially dilutive securities 182 150 Weighted average common shares outstanding - diluted 15,130 15,477 Basic net income per common share $ 0.81 $ 0.60 Diluted net income per common share $ 0.80 $ 0.59

Note 9 - Debt

Note 9 - Debt	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	9 . DEBT A summary of total debt outstanding at March 27, 2016 and December 31, 2015 is as follows: Mar. 27, Dec. 31, (thousands) 2016 2015 Long-term debt: Revolver $ 175,213 $ 137,520 Term loan 66,964 66,964 Total long-term debt 242,177 204,484 Less: current maturities of long-term debt (10,714 ) (10,714 ) Less: deferred financing costs related to Term Loan (655 ) (823 ) Total long-term debt, less current maturities, net $ 230,808 $ 192,947 2015 Credit Facility The Company entered into an Amended and Restated Credit Agreement, dated as of April 28, 2015 (the “2015 Credit Agreement”), with Wells Fargo Bank, National Association, as Administrative Agent and a lender (“Wells Fargo”), and Fifth Third Bank (“Fifth Third”), Key Bank National Association (“Key Bank”), Bank of America, N.A., and Lake City Bank as participants, to expand its senior secured credit facility to $250.0 million and extend its maturity to 2020 (the “2015 Credit Facility”). The 2015 Credit Facility initially was comprised of a $175.0 million revolving credit loan (the “2015 Revolver”) and a $75.0 million term loan (the “Term Loan”). The 2015 Credit Agreement amends and restates the Company’s previous credit agreement entered into in 2012. On August 31, 2015, the Company entered into a first amendment to the 2015 Credit Agreement to expand the 2015 Credit Facility to $300.0 million from $250.0 million by expanding the 2015 Revolver to $225.0 million. The 2015 Credit Agreement is secured by substantially all personal property assets of the Company and any domestic subsidiary guarantors. The 2015 Credit Agreement includes certain definitions, terms and reporting requirements and includes the following additional provisions: ● The maturity date for the 2015 Credit Facility is April 28, 2020; ● The Term Loan will be repaid in installments of approximately $2.7 million per quarter starting on June 30, 2015, with the remaining balance due at maturity; ● The interest rates for borrowings under the 2015 Revolver and the Term Loan are the Base Rate plus the Applicable Margin or LIBOR plus the Applicable Margin, with a fee payable by the Company on unused but committed portions of the 2015 Revolver; ● The 2015 Revolver includes a sub-limit up to $10.0 million for same day advances (“Swing Line”) which shall bear interest based upon the Base Rate plus the Applicable Margin; ● Up to $10.0 million of the 2015 Revolver will be available as a sub facility for the issuance of standby letters of credit, which are subject to certain expiration dates; ● The financial covenants include requirements as to a consolidated total leverage ratio and a consolidated fixed charge coverage ratio, and other covenants include limitations and restrictions concerning permitted acquisitions, investments, sales of assets, liens on assets, dividends and other payments; and ● Customary prepayment provisions, representations, warranties and covenants, and events of default. At March 27, 2016, the Company had $67.0 million outstanding under the Term Loan under the LIBOR-based option, and borrowings outstanding under the 2015 Revolver of (i) $169.0 million under the LIBOR-based option and (ii) $6.2 million under the Prime Rate-based option. The interest rate for borrowings at March 27, 2016 was the Prime Rate plus 1.00% (or 4.50%), or LIBOR plus 2.00% (or 2.50%). At December 31, 2015, the Company had $67.0 million outstanding under the Term Loan under the LIBOR-based option, and borrowings outstanding under the 2015 Revolver of (i) $133.0 million under the LIBOR-based option and (ii) $4.5 million under the Prime Rate-based option. The interest rate for borrowings at December 31, 2015 was the Prime Rate plus 1.00% (or 4.50%), or LIBOR plus 2.00% (or 2.4375%). The fee payable on committed but unused portions of the 2015 Revolver was 0.25% for both of these periods. Pursuant to the 2015 Credit Agreement, the financial covenants include: (a) a maximum consolidated total leverage ratio, measured on a quarter-end basis, not to exceed 3.00:1.00 for the 12-month period ending on such quarter-end; and (b) a required minimum consolidated fixed charge coverage ratio, measured on a quarter-end basis, of at least 1.50:1.00 for the 12-month period ending on such quarter-end. The consolidated total leverage ratio is the ratio for any period of consolidated total indebtedness (as measured as of the second day following the end of the immediately preceding fiscal quarter) to consolidated adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”). Consolidated total indebtedness for any period is the sum of: (i) total debt outstanding under the 2015 Revolver and the Term Loan; (ii) capital leases and letters of credit outstanding; and (iii) deferred payment obligations. The consolidated fixed charge coverage ratio for any period is the ratio of consolidated EBITDA less restricted payments, taxes paid and capital expenditures as defined under the 2015 Credit Agreement to consolidated fixed charges. Consolidated fixed charges for any period is the sum of interest expense and scheduled principal payments on outstanding indebtedness under the Term Loan. As of and for the March 27, 2016 reporting date, the Company was in compliance with both of these financial debt covenants as required under the terms of the 2015 Credit Agreement. The required maximum consolidated total leverage ratio and the minimum consolidated fixed charge coverage ratio compared to the actual amounts as of March 27, 2016 and for the fiscal period then ended are as follows: Required Actual Consolidated total leverage ratio (12-month period) 3.00 2.00 Consolidated fixed charge coverage ratio (12-month period) 1.50 4.82 Interest paid for the first quarter of 2016 and 2015 was $1.3 million and $0.8 million, respectively.

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10 . FAIR VALUE MEASUREMENTS The carrying amounts of cash and cash equivalents, trade receivables, and accounts payable approximated fair value as of March 27, 2016 and December 31, 2015 because of the relatively short maturities of these financial instruments. The carrying amount of debt approximated fair value as of March 27, 2016 and December 31, 2015 based upon terms and conditions available to the Company at those dates in comparison to the terms and conditions of its outstanding debt.

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. INCOME TAXES The Company recorded income taxes at an estimated effective rate of 36.6% in the first quarter of 2016. For the comparable 2015 period, the estimated effective tax rate was 38.0%. The Company had various state net operating loss carry forwards (“NOLs”) of approximately $0.7 million at December 31, 2015, of which approximately $0.6 million were remaining to be utilized as of March 27, 2016. The Company estimates that it will utilize a majority of the remaining state NOLs by the end of 2016. In the first three months of 2016 and 2015, the Company realized approximately $0.9 million and $1.2 million of excess tax benefits on stock-based compensation, which had not been recorded as deferred tax assets at December 31, 2015 and 2014. These tax benefits were recorded to shareholders’ equity upon realization in 2016 and 2015. The Company paid income taxes of $0.1 million and $1.7 million in the first quarter of 2016 and 2015, respectively. Due to the timing of tax payments, the Company paid an additional $5.7 million in income taxes in April 2016 (the beginning of the Company’s 2016 second fiscal quarter) and $2.0 million in April 2015 (the beginning of the Company’s 2015 second fiscal quarter).

Note 12 - Segment Information

Note 12 - Segment Information	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 2 SEGMENT INFORMATION The Company has determined that its reportable segments are those based on its method of internal reporting, which segregates its businesses by product category and production/distribution process. A description of the Company’s reportable segments is as follows: Manufacturing Distribution The tables below present unaudited information about the sales and operating income of those segments. First Quarter Ended March 27, 2016 (thousands) Manufacturing Distribution Total Net outside sales $ 226,949 $ 51,688 $ 278,637 Intersegment sales 5,055 687 5,742 Total sales 232,004 52,375 284,379 Operating income 26,158 3,602 29,760 First Quarter Ended March 29, 2015 (thousands) Manufacturing Distribution Total Net outside sales $ 170,347 $ 53,041 $ 223,388 Intersegment sales 4,503 801 5,304 Total sales 174,850 53,842 228,692 Operating income 18,321 3,293 21,614 The table below presents a reconciliation of segment operating income to consolidated operating income: First Quarter Ended Mar. 27, Mar. 29, (thousands) 2016 2015 Operating income for reportable segments $ 29,760 $ 21,614 Unallocated corporate expenses (6,378 ) (4,392 ) Amortization of intangible assets (2,768 ) (1,659 ) Consolidated operating income $ 20,614 $ 15,563 Unallocated corporate expenses include corporate general and administrative expenses comprised of wages, insurance, taxes, supplies, travel and entertainment, professional fees and other.

Note 13 - Stock Repurchase Prog

Note 13 - Stock Repurchase Program	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Treasury Stock [Text Block]	1 3 . STOCK REPURCHASE PROGRAM S In February 2013, the Board approved a stock repurchase program which was subsequently expanded in February 2014 and February 2015 (the “2013 Repurchase Plan”). Repurchases of the Company’s common stock made under the 2013 Repurchase Plan for the years ended December 2015, 2014 and 2013 and during the first quarter of 2016 are as follows: Shares Total Cost Average Price Year Repurchased (in thousands) Per Share 2013 610,995 $ 6,078 $ 9.95 2014 517,125 13,928 26.93 2015 618,557 22,637 36.60 2016 70,636 2,865 40.56 Total 1,817,313 $ 45,508 $ 25.04 In January 2016, the Company fully utilized the authorization under the 2013 Repurchase Plan and announced that the Board approved a new stock repurchase program that authorizes the repurchase of up to $50 million of the Company’s common stock over a 24-month period (the “2016 Repurchase Plan”). There were no shares repurchased under the 2016 Repurchase Plan in the first quarter of 2016. Common Stock The Company’s common stock does not have a stated par value. As a result, repurchases of common stock have been reflected, using an average cost method, as a reduction of common stock, additional paid-in-capital, and retained earnings on the Company’s condensed consolidated statements of financial position.

Note 14 - Related Party Transac

Note 14 - Related Party Transaction	3 Months Ended
	Mar. 27, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 4 . RELATED PARTY TRANSACTIONS In the first quarter of 2016, the Company entered into transactions with companies affiliated with two of its independent Board members. The Company purchased approximately $0.1 million of corrugated packaging materials from Welch Packaging Group, an independently owned company established by M. Scott Welch who serves as the President and CEO. In addition, in the first quarter of 2016, the Company sold approximately $0.4 million of various fiberglass and plastic components and wood products to Utilimaster Corporation, a subsidiary of Spartan Motors, Inc. John A. Forbes serves as the President of Utilimaster.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 27, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance which specifies how and when to recognize revenue as well as providing informative, relevant disclosures. In August 2015, the FASB deferred the effective date of this standard by one year, which would become effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating both the effect of adopting this new accounting guidance and determining the appropriate method of transition it will use to apply the new standard. It has not yet determined the impact, if any, that the implementation of this guidance will have on its condensed consolidated financial statements. Debt Issuance Costs In April 2015, the FASB issued guidance that requires that debt issuance costs be presented in the statement of financial position as a reduction in the carrying amount of debt, consistent with the presentation of debt issuance discounts. The Company adopted this new guidance, on a retrospective basis, in the first quarter of 2016 as required. Total assets and total liabilities on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $0.8 million of deferred financing costs associated with the Term Loan (as defined herein) to the long-term debt, less current maturities, net line on the condensed consolidated statement of financial position. See Note 3 for a description of the impact of the adoption of this guidance on the Company’s condensed consolidated statements of financial position for the periods presented. Income Taxes In November 2015, the FASB issued new accounting guidance that simplifies the presentation of deferred income taxes. Under the new guidance, deferred tax assets and liabilities are required to be classified, on a net basis, as noncurrent on the condensed consolidated statement of financial position. The guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. During the first quarter of 2016, the Company elected to adopt this guidance, thus reclassifying current deferred tax assets to noncurrent, net of deferred tax liabilities, on the condensed consolidated statements of financial position. The prior year reporting period was retrospectively adjusted. Current assets on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $5.8 million of current deferred tax assets to long-term assets. Total assets and total liabilities on the Company’s condensed consolidated statement of financial position as of December 31, 2015 were reduced by the reclassification of $3.8 million of long-term deferred tax liabilities to long-term deferred tax assets. The adoption of this guidance had no impact on the Company’s condensed consolidated statements of income. Leases In February 2016, the FASB issued new accounting guidance that will require that an entity recognize lease assets and lease liabilities on its balance sheet for leases in excess of one year that were previously classified as operating leases under U.S. GAAP. The guidance also requires companies to disclose in the footnotes to the financial statements information about the amount, timing, and uncertainty for the payments made for the lease agreements. The guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2018 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance and has not yet determined the impact that the implementation of this guidance will have on its condensed consolidated financial statements. Stock Compensation In March 2016, the FASB issued new accounting guidance for share-based payments, which simplifies (i) the income tax consequences related to exercised or vested share-based payment awards; (ii) the classification of awards as assets or liabilities; and (iii) the classification in the condensed consolidated statements of cash flows. This guidance is effective for financial statements issued for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting guidance and has not yet determined the impact, if any, that the implementation of this guidance will have on its condensed consolidated financial statements.

Note 3 - Deferred Financing_ 20

Note 3 - Deferred Financing/ Debt Issuance Costs (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Mar. 27, Dec. 31, (thousands) 2016 2015 Total long-term debt $ 242,177 $ 204,484 Less: deferred financing costs related to Term Loan (655 ) (823 ) Total long-term debt, net of deferred financing costs 241,522 203,661 Less: current maturities of long-term debt (10,714 ) (10,714 ) Total long-term debt, less current maturities, net $ 230,808 $ 192,947
Schedule of Debt Issuance Costs, Net [Table Text Block]	Mar. 27, Dec. 31, (thousands) 2016 2015 Total deferred financing costs $ 2,369 $ 2,513 Less: deferred financing costs related to Term Loan (655 ) (823 ) Deferred financing costs, net $ 1,714 $ 1,690

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(thousands) Mar. 27, 2016 Dec. 31, 2015 Raw materials $ 58,965 $ 52,601 Work in process 5,672 5,529 Finished goods 9,568 10,450 Less: reserve for inventory obsolescence (2,227 ) (1,897 ) Total manufactured goods, net 71,978 66,683 Materials purchased for resale (distribution products) 29,872 24,406 Less: reserve for inventory obsolescence (1,770 ) (1,611 ) Total materials purchased for resale (distribution products), net 28,102 22,795 Total inventories $ 100,080 $ 89,478

Note 5 - Goodwill and Intangi22

Note 5 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	(thousands) Customer Relationships Non-Compete Agreements Trademarks Total Other Intangible Assets Goodwill Total Intangible Assets Parkland Plastics, Inc. $ 7,500 $ 800 $ 2,500 $ 10,800 $ 5,762 $ 16,562 The Progressive Group 3,840 410 1,280 5,530 2,951 8,481
Schedule of Goodwill [Table Text Block]	(thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 62,285 $ 6,321 $ 68,606 Acquisitions 5,762 2,951 8,713 Other 169 - 169 Balance - March 27, 2016 $ 68,216 $ 9,272 $ 77,488
Schedule of Intangible Assets by Major Class [Table Text Block]	(thousands) Mar. 27, 2016 Weighted Average Useful Life (years) Dec. 31, 2015 Weighted Average Useful Life (years) Customer relationships $ 102,329 10.3 $ 91,164 10.4 Non-compete agreements 10,228 3.5 9,012 3.4 Trademarks 29,267 25,487 141,824 125,663 Less: accumulated amortization (21,672 ) (18,904 ) Other intangible assets, net $ 120,152 $ 106,759
Schedule of Intangible Assets by Business Segment [Table Text Block]	(thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 95,359 $ 11,400 $ 106,759 Acquisitions 10,800 5,530 16,330 Amortization (2,316 ) (452 ) (2,768 ) Other (169 ) - (169 ) Balance - March 27, 2016 $ 103,674 $ 16,478 $ 120,152

Note 6 - Acquisitions (Tables)

Note 6 - Acquisitions (Tables)	3 Months Ended
	Mar. 27, 2016
North American [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 8,924 Inventories 19,189 Property, plant and equipment 5,959 Prepaid expenses 139 Accounts payable and accrued liabilities (8,209 ) Intangible assets 36,185 Goodwill 17,463 Total net assets acquired $ 79,650
SCI [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 1,407 Inventories 482 Property, plant and equipment 750 Prepaid expenses 5 Accounts payable and accrued liabilities (734 ) Intangible assets 9,535 Goodwill 8,596 Total net assets acquired $ 20,041
Better Way Products [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 4,901 Inventories 1,829 Property, plant and equipment 3,907 Prepaid expenses 80 Accounts payable and accrued liabilities (1,349 ) Intangible assets 20,030 Goodwill 11,087 Total net assets acquired $ 40,485
The Progressive Group [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 1,099 Inventories 3,659 Property, plant and equipment 100 Prepaid expenses 61 Accounts payable and accrued liabilities (2,388 ) Intangible assets 5,530 Goodwill 2,951 Total net assets acquired $ 11,012
Parkland Plastics Inc. [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 2,984 Inventories 5,280 Property, plant and equipment 2,550 Prepaid expenses 96 Accounts payable and accrued liabilities (2,100 ) Intangible assets 10,800 Goodwill 5,762 Total net assets acquired $ 25,372
Business Acquisition, Pro Forma Information [Table Text Block]	First Quarter Ended Mar. 27, Mar. 29, (thousands except per share data) 2016 2015 Revenue $ 288,172 $ 297,068 Net income 13,039 12,999 Basic net income per common share 0.87 0.85 Diluted net income per common share 0.86 0.84

Note 8 - Net Income Per Commo24

Note 8 - Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Mar. 27, Mar. 29, (thousands except per share data) 2016 2015 Net income for basic and diluted per share calculation $ 12,033 $ 9,150 Weighted average common shares outstanding - basic 14,948 15,327 Effect of potentially dilutive securities 182 150 Weighted average common shares outstanding - diluted 15,130 15,477 Basic net income per common share $ 0.81 $ 0.60 Diluted net income per common share $ 0.80 $ 0.59

Note 9 - Debt (Tables)

Note 9 - Debt (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Mar. 27, Dec. 31, (thousands) 2016 2015 Long-term debt: Revolver $ 175,213 $ 137,520 Term loan 66,964 66,964 Total long-term debt 242,177 204,484 Less: current maturities of long-term debt (10,714 ) (10,714 ) Less: deferred financing costs related to Term Loan (655 ) (823 ) Total long-term debt, less current maturities, net $ 230,808 $ 192,947
Schedule of Required Financial Covenants Compared to Actual Amounts [Table Text Block]	Required Actual Consolidated total leverage ratio (12-month period) 3.00 2.00 Consolidated fixed charge coverage ratio (12-month period) 1.50 4.82

Note 12 - Segment Information (

Note 12 - Segment Information (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(thousands) Manufacturing Distribution Total Net outside sales $ 226,949 $ 51,688 $ 278,637 Intersegment sales 5,055 687 5,742 Total sales 232,004 52,375 284,379 Operating income 26,158 3,602 29,760 (thousands) Manufacturing Distribution Total Net outside sales $ 170,347 $ 53,041 $ 223,388 Intersegment sales 4,503 801 5,304 Total sales 174,850 53,842 228,692 Operating income 18,321 3,293 21,614
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	First Quarter Ended Mar. 27, Mar. 29, (thousands) 2016 2015 Operating income for reportable segments $ 29,760 $ 21,614 Unallocated corporate expenses (6,378 ) (4,392 ) Amortization of intangible assets (2,768 ) (1,659 ) Consolidated operating income $ 20,614 $ 15,563

Note 13 - Stock Repurchase Pr27

Note 13 - Stock Repurchase Program (Tables)	3 Months Ended
	Mar. 27, 2016
Notes Tables
Schedule of Shares Repurchased [Table Text Block]	Shares Total Cost Average Price Year Repurchased (in thousands) Per Share 2013 610,995 $ 6,078 $ 9.95 2014 517,125 13,928 26.93 2015 618,557 22,637 36.60 2016 70,636 2,865 40.56 Total 1,817,313 $ 45,508 $ 25.04

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	May. 29, 2015
Stock Split To [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3
Stock Split From [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2

Note 2 - Recently Issued Acco29

Note 2 - Recently Issued Accounting Pronouncements (Details Textual) - December 31, 2015 [Member] $ in Millions	3 Months Ended
	Mar. 27, 2016USD ($)
Reclassification from Deferred Financing Costs to Long-term Debt [Member]
Prior Period Reclassification Adjustment	$ 0.8
Reclassification from Current Deferred Tax Assets to Long-term Assets [Member]
Prior Period Reclassification Adjustment	5.8
Reclassification from Long-term Deferred Tax Liabilities to Long-term Deferred Tax Assets [Member]
Prior Period Reclassification Adjustment	$ 3.8

Note 3 - Deferred Financing_ 30

Note 3 - Deferred Financing/ Debt Issuance Costs (Details Textual) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015
Term Loan [Member]
Long-term Debt	$ 67,000	$ 67,000
Debt Outstanding, Percent	28.00%	33.00%
Long-term Debt	$ 241,522	$ 203,661
Unamortized Debt Issuance Expense	$ 2,400	$ 2,500

Note 3 - Effect of Accounting S

Note 3 - Effect of Accounting Standards Update (Details) - USD ($) $ in Thousands		Mar. 27, 2016	Dec. 31, 2015
Long-term Debt, Gross, Including Revolving Line of Credit, Net [Member]
Total long-term debt		$ 242,177	$ 204,484
Term Loan [Member]
Total long-term debt		66,964	66,964
Deferred financing costs, term loan		(655)	(823)
Long-term Debt		67,000	67,000
Deferred financing costs, term loan		(2,369)	(2,513)
Long-term Debt		241,522	203,661
Less: current maturities of long-term debt		(10,714)	(10,714)
Total long-term debt, less current maturities, net	[1]	$ 230,808	$ 192,947
[1]	Excludes unamortized deferred financing costs associated with the Term Loan (in thousands) of $655 and $823 at March 27, 2016 and December 31, 2015, respectively.

Note 3 - Deferred Financing Cos

Note 3 - Deferred Financing Costs (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015
Term Loan [Member]
Total deferred financing costs	$ 655	$ 823
Deferred financing costs, term loan	(655)	(823)
Total deferred financing costs	2,369	2,513
Deferred financing costs, term loan	(2,369)	(2,513)
Deferred financing costs, net	$ 1,714	$ 1,690

Note 4 - Inventories - Inventor

Note 4 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015
Manufactured Goods [Member]
Less: reserve for inventory obsolescence	$ (2,227)	$ (1,897)
Distributed Goods [Member]
Less: reserve for inventory obsolescence	(1,770)	(1,611)
Raw materials	58,965	52,601
Work in process	5,672	5,529
Finished goods	9,568	10,450
Total manufactured goods, net	71,978	66,683
Materials purchased for resale (distribution products)	29,872	24,406
Total materials purchased for resale (distribution products), net	28,102	22,795
Total inventories	$ 100,080	$ 89,478

Note 5 - Goodwill and Intangi34

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 31, 2015
The Progressive Group [Member] | Noncompete Agreements [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
The Progressive Group [Member] | Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Parkland Plastics Inc. [Member] | Noncompete Agreements [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Parkland Plastics Inc. [Member] | Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life	3 years 182 days		3 years 146 days
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	10 years 109 days		10 years 146 days
Trademarks [Member]
Intangible Assets, Net (Excluding Goodwill)	$ 29,300,000
Customer Relationships and Noncompete Agreements [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Customer Relationships and Noncompete Agreements [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	19 years
Customer Relationships and Noncompete Agreements [Member]
Intangible Assets, Net (Excluding Goodwill)	$ 90,900,000
Goodwill and Intangible Asset Impairment	0	$ 0
Intangible Assets, Net (Excluding Goodwill)	120,152,000		$ 106,759,000
Amortization of Intangible Assets	$ 2,768,000	$ 1,659,000

Note 5 - Intangible Assets (Det

Note 5 - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Feb. 29, 2016	Dec. 31, 2015
Parkland Plastics Inc. [Member] | Customer Relationships [Member]
Finite-lived intangible assets acquired	$ 7,500
Parkland Plastics Inc. [Member] | Noncompete Agreements [Member]
Finite-lived intangible assets acquired	800
Parkland Plastics Inc. [Member] | Trademarks [Member]
Indefinite-lived intangible assets acquired	2,500
Parkland Plastics Inc. [Member]
Intangible assets excluding goodwill	10,800
Goodwill	5,762	$ 5,762
Total intangible Assets and Goodwill	16,562
The Progressive Group [Member] | Customer Relationships [Member]
Finite-lived intangible assets acquired	3,840
The Progressive Group [Member] | Noncompete Agreements [Member]
Finite-lived intangible assets acquired	410
The Progressive Group [Member] | Trademarks [Member]
Indefinite-lived intangible assets acquired	1,280
The Progressive Group [Member]
Intangible assets excluding goodwill	5,530
Goodwill	2,951
Total intangible Assets and Goodwill	8,481
Intangible assets excluding goodwill	141,824		$ 125,663
Goodwill	$ 77,488		$ 68,606

Note 5 - Carrying Amount of Goo

Note 5 - Carrying Amount of Goodwill by Segment (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2016USD ($)
Manufacturing [Member]
Balance	$ 62,285
Acquisitions	5,762
Other	169
Balance	68,216
Distribution [Member]
Balance	6,321
Acquisitions	$ 2,951
Other
Balance	$ 9,272
Balance	68,606
Acquisitions	8,713
Other	169
Balance	$ 77,488

Note 5 - Other Intangible Asset

Note 5 - Other Intangible Assets, Net, by Major Class (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2016	Dec. 31, 2015
Customer Relationships [Member]
Other finite-lived intangible assets, gross	$ 102,329	$ 91,164
Finite-Lived Intangible Asset, Useful Life	10 years 109 days	10 years 146 days
Noncompete Agreements [Member]
Other finite-lived intangible assets, gross	$ 10,228	$ 9,012
Finite-Lived Intangible Asset, Useful Life	3 years 182 days	3 years 146 days
Trademarks [Member]
Other indefinite-lived intangible assets, gross	$ 29,267	$ 25,487
Intangible assets excluding goodwill	141,824	125,663
Less: accumulated amortization	(21,672)	(18,904)
Intangible Assets, Net (Excluding Goodwill)	$ 120,152	$ 106,759

Note 5 - Other Intangible Ass38

Note 5 - Other Intangible Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Manufacturing [Member]
Balance	$ 95,359
Acquisitions	10,800
Amortization	(2,316)
Other	(169)
Balance	103,674
Distribution [Member]
Balance	11,400
Acquisitions	5,530
Amortization	$ (452)
Other
Balance	$ 16,478
Balance	106,759
Acquisitions	16,330
Amortization	(2,768)	$ (1,659)
Other	(169)
Balance	$ 120,152

Note 6 - Acquisitions (Details

Note 6 - Acquisitions (Details Textual) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 27, 2016USD ($)	Mar. 29, 2015USD ($)	Dec. 31, 2015	Feb. 29, 2016USD ($)	Sep. 27, 2015USD ($)	May. 31, 2015USD ($)	Feb. 28, 2015USD ($)
Acquired Entities [Member]
Revenues	$ 3,800	$ 6,500
Operating Income (Loss)	400	$ 800
Parkland Plastics Inc. [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				$ 25,372
The Progressive Group [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 11,012
Number of Facilities	6
Better Way Products [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net							$ 40,485
SCI [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						$ 20,041
North American [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					$ 79,650
Number of Businesses Acquired	2	1	3
Operating Income (Loss)	$ 20,614	$ 15,563
Business Acquisition, Pro Forma Amortization Expense	$ 200	$ 1,400

Note 6 - Acquisitions - Parklan

Note 6 - Acquisitions - Parkland - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Feb. 29, 2016	Dec. 31, 2015
Parkland Plastics Inc. [Member]
Trade receivables		$ 2,984
Inventories		5,280
Property, plant and equipment		2,550
Prepaid expenses		96
Accounts payable and accrued liabilities		(2,100)
Intangible assets		10,800
Goodwill	$ 5,762	5,762
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 25,372
Goodwill	$ 77,488		$ 68,606

Note 6 - Acquisitions - Progres

Note 6 - Acquisitions - Progressive - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015
The Progressive Group [Member]
Trade receivables	$ 1,099
Inventories	3,659
Property, plant and equipment	100
Prepaid expenses	61
Accounts payable and accrued liabilities	(2,388)
Intangible assets	5,530
Goodwill	2,951
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	11,012
Goodwill	$ 77,488	$ 68,606

Note 6 - Acquisitions - Better

Note 6 - Acquisitions - Better Way - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015	Feb. 28, 2015
Better Way Products [Member]
Trade receivables			$ 4,901
Inventories			1,829
Property, plant and equipment			3,907
Prepaid expenses			80
Accounts payable and accrued liabilities			(1,349)
Intangible assets			20,030
Goodwill			11,087
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			$ 40,485
Goodwill	$ 77,488	$ 68,606

Note 6 - Acquisitions - SCI - F

Note 6 - Acquisitions - SCI - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015	May. 31, 2015
SCI [Member]
Trade receivables			$ 1,407
Inventories			482
Property, plant and equipment			750
Prepaid expenses			5
Accounts payable and accrued liabilities			(734)
Intangible assets			9,535
Goodwill			8,596
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			$ 20,041
Goodwill	$ 77,488	$ 68,606

Note 6 - Acquisitions - North A

Note 6 - Acquisitions - North American - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 31, 2015	Sep. 27, 2015
North American [Member]
Trade receivables			$ 8,924
Inventories			19,189
Property, plant and equipment			5,959
Prepaid expenses			139
Accounts payable and accrued liabilities			(8,209)
Intangible assets			36,185
Goodwill			17,463
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			$ 79,650
Goodwill	$ 77,488	$ 68,606

Note 6 - Acquisitions - Pro For

Note 6 - Acquisitions - Pro Forma Information Related to Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Revenue	$ 288,172	$ 297,068
Net income	$ 13,039	$ 12,999
Basic net income per common share (in dollars per share)	$ 0.87	$ 0.85
Diluted net income per common share (in dollars per share)	$ 0.86	$ 0.84

Note 7 - Stock-based Compensa46

Note 7 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions	Mar. 02, 2016	Feb. 23, 2016	Oct. 12, 2015	Oct. 08, 2015	Aug. 13, 2015	May. 19, 2015	Apr. 01, 2015	Mar. 30, 2015	Feb. 16, 2015	Mar. 27, 2016	Mar. 29, 2015
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		22,000						22,000
Allocated Share-based Compensation Expense										$ 1.5	$ 1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,500	133,187	3,000	2,250	447	12,064	300		127,629
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized										$ 10.8
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition										1 year 246 days

Note 8 - Net Income Per Commo47

Note 8 - Net Income Per Common Share (Details Textual)	May. 29, 2015
Stock Split From [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2
Stock Split To [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3

Note 8 - Earnings Per Common Sh

Note 8 - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Net income	$ 12,033	$ 9,150
Weighted average common shares outstanding - basic (in shares)	14,948	15,327	[1]
Effect of potentially dilutive securities (in shares)	182	150
Weighted average common shares outstanding - diluted (in shares)	15,130	15,477	[1]
Basic net income per common share (in dollars per share)	$ 0.81	$ 0.60	[1]
Diluted net income per common share (in dollars per share)	$ 0.80	$ 0.59	[1]
[1]	Net income per common share and weighted average shares outstanding, on both a basic and diluted basis, reflect the impact of the three-for-two common stock split paid on May 29, 2015.

Note 9 - Debt (Details Textual)

Note 9 - Debt (Details Textual) $ in Thousands	Apr. 28, 2015USD ($)	Mar. 27, 2016USD ($)	Mar. 29, 2015USD ($)	Dec. 31, 2015USD ($)	Aug. 31, 2015USD ($)
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | Same Day Advance Swing Line [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | Sub Facility, Standby Letters of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Line of Credit		$ 169,000		$ 133,000
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | Prime Rate [Member]
Long-term Line of Credit		$ 6,200		$ 4,500
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	175,000				$ 225,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%		2.00%
Debt Instrument, Interest Rate, Effective Percentage		2.50%		2.4375%
Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%		1.00%
Debt Instrument, Interest Rate, Effective Percentage		4.50%		4.50%
Revolving Credit Facility [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.25%		0.25%
The Lenders [Member] | The 2015 Credit Facility [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt		$ 67,000		$ 67,000
The Lenders [Member] | The 2015 Credit Facility [Member] | Term Loan [Member]
Long-term Debt	75,000
Debt Instrument, Periodic Payment	2,700
The Lenders [Member] | The 2015 Credit Facility [Member] | Maximum [Member]
Consolidated Leverage Ratio		3
The Lenders [Member] | The 2015 Credit Facility [Member] | Minimum [Member]
Consolidated Fixed Charge Coverage Ratio		1.5
The Lenders [Member] | The 2015 Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity	$ 250,000				$ 300,000
Term Loan [Member]
Long-term Debt		$ 67,000		67,000
Long-term Debt		241,522		$ 203,661
Interest Paid		$ 1,300	$ 800

Note 9 - Summary of Total Debt

Note 9 - Summary of Total Debt Outstanding (Details) - USD ($) $ in Thousands		Mar. 27, 2016	Dec. 31, 2015
Line of Credit [Member]
Long-term debt:
Total long-term debt		$ 175,213	$ 137,520
Term Loan [Member]
Long-term debt:
Total long-term debt		66,964	66,964
Deferred financing costs, term loan		(655)	(823)
Long-term Debt, Gross, Including Revolving Line of Credit, Net [Member]
Long-term debt:
Total long-term debt		242,177	204,484
Less: current maturities of long-term debt		(10,714)	(10,714)
Deferred financing costs, term loan		(2,369)	(2,513)
Total long-term debt, less current maturities, net	[1]	$ 230,808	$ 192,947
[1]	Excludes unamortized deferred financing costs associated with the Term Loan (in thousands) of $655 and $823 at March 27, 2016 and December 31, 2015, respectively.

Note 9 - Required Financial Cov

Note 9 - Required Financial Covenants Compared to Actual Amounts (Details)	3 Months Ended
	Mar. 27, 2016
Required [Member]
Consolidated Leverage Ratio	3
Consolidated Fixed Charge Coverage Ratio	1.5
Scenario, Actual [Member]
Consolidated Leverage Ratio	2
Consolidated Fixed Charge Coverage Ratio	4.82

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Mar. 27, 2016	Mar. 29, 2015	Dec. 31, 2015
State and Local Jurisdiction [Member]
Operating Loss Carryforwards			$ 0.6		$ 0.7
Subsequent Event [Member]
Income Taxes Paid	$ 5.7
Effective Income Tax Rate Reconciliation, Percent			36.60%	38.00%
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options			$ 0.9	$ 1.2
Income Taxes Paid		$ 2	$ 0.1	$ 1.7

Note 12 - Segment Information53

Note 12 - Segment Information (Details Textual) - Sales Revenue, Goods, Net [Member] - Product Concentration Risk [Member]	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Distribution [Member]
Concentration Risk, Percentage	19.00%	24.00%
Manufacturing [Member]
Concentration Risk, Percentage	81.00%	76.00%

Note 12 - Sales and Operating I

Note 12 - Sales and Operating Income of Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Manufacturing [Member] | Intersegment Eliminations [Member]
Sales	$ 5,055	$ 4,503
Manufacturing [Member] | Operating Segments [Member]
Sales	232,004	174,850
Operating Income (Loss)	26,158	18,321
Manufacturing [Member]
Sales	226,949	170,347
Distribution [Member] | Intersegment Eliminations [Member]
Sales	687	801
Distribution [Member] | Operating Segments [Member]
Sales	52,375	53,842
Operating Income (Loss)	3,602	3,293
Distribution [Member]
Sales	51,688	53,041
Intersegment Eliminations [Member]
Sales	5,742	5,304
Operating Segments [Member]
Sales	284,379	228,692
Operating Income (Loss)	29,760	21,614
Sales	278,637	223,388
Operating Income (Loss)	$ 20,614	$ 15,563

Note 12 - Reconciliation of Seg

Note 12 - Reconciliation of Segment Operating Income to Consolidated Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Operating Segments [Member]
Operating Income (Loss)	$ 29,760	$ 21,614
Corporate, Non-Segment [Member]
Unallocated corporate expenses	(6,378)	(4,392)
Segment Reconciling Items [Member]
Amortization	(2,768)	(1,659)
Operating Income (Loss)	20,614	15,563
Unallocated corporate expenses	(24,738)	(19,831)
Amortization	$ (2,768)	$ (1,659)

Note 13 - Stock Repurchase Pr56

Note 13 - Stock Repurchase Program (Details Textual) - The 2016 Stock Repurchase Plan [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2016	Mar. 27, 2016
Maximum [Member]
Stock Repurchase Program, Authorized Amount	$ 50
Treasury Stock, Shares, Acquired		0
Stock Repurchase Program, Period in Force	2 years

Note 13 - Repurchases of Shares

Note 13 - Repurchases of Shares Under the 2013 Repurchase Plan (Details) - The 2013 Share Repurchase Plan [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended			39 Months Ended
	Mar. 27, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 27, 2016
Shares repurchased (in shares)	70,636	618,557	517,125	610,995	1,817,313
Total cost	$ 2,865	$ 22,637	$ 13,928	$ 6,078	$ 45,508
Average price per share (in dollars per share)	$ 40.56	$ 36.60	$ 26.93	$ 9.95	$ 25.04

Note 14 - Related Party Trans58

Note 14 - Related Party Transaction (Details Textual) $ in Millions	3 Months Ended
	Mar. 27, 2016USD ($)
Board Member [Member]
Number of Independent Employees for the Company	2
Welch Packaging Group [Member]
Related Party Transaction, Purchases from Related Party	$ 0.1
Utilimaster Corporation [Member]
Revenue from Related Parties	$ 0.4