Patrick Industries (PATK) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 26, 2016	Jul. 22, 2016
Document Information [Line Items]
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)		15,325,434
Document Type	10-Q
Document Period End Date	Jun. 26, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 35	$ 87
Trade receivables, net	91,293	38,213
Inventories	102,081	89,478
Prepaid expenses and other	4,579	6,119
Total current assets	197,988	133,897
Property, plant and equipment, net	78,437	67,878
Goodwill	84,044	68,606
Other intangible assets, net	129,914	106,759
Deferred financing costs, net (Note 3)	1,686	1,885
Deferred tax assets, net (Note 2)	3,907	2,004
Other non-current assets	543	555
TOTAL ASSETS	496,519	381,584
Current Liabilities
Current maturities of long-term debt	10,714	10,714
Accounts payable	53,071	28,744
Accrued liabilities	23,363	18,468
Total current liabilities	87,148	57,926
Long-term debt, less current maturities, net (Note 3)	250,438	193,142
Deferred compensation and other	1,870	1,919
TOTAL LIABILITIES	339,456	252,987
SHAREHOLDERS’ EQUITY
Common stock	60,450	57,683
Additional paid-in-capital	9,456	8,308
Accumulated other comprehensive income	32	32
Retained earnings	87,125	62,574
TOTAL SHAREHOLDERS’ EQUITY	157,063	128,597
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 496,519	$ 381,584

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
NET SALES	$ 315,163	$ 233,481	$ 593,800	$ 456,869
Cost of goods sold	259,879	193,088	493,164	381,082
GROSS PROFIT	55,284	40,393	100,636	75,787
Operating Expenses:
Warehouse and delivery	9,285	6,826	16,984	13,485
Selling, general and administrative	14,764	11,219	28,997	22,738
Amortization of intangible assets	3,225	1,982	5,993	3,641
(Gain) loss on sale of fixed assets	3	(5)	41	(11)
Total operating expenses	27,277	20,022	52,015	39,853
OPERATING INCOME	28,007	20,371	48,621	35,934
Interest expense, net	1,632	898	3,281	1,702
Income before income taxes	26,375	19,473	45,340	34,232
Income taxes	9,672	7,400	16,604	13,009
NET INCOME	$ 16,703	$ 12,073	$ 28,736	$ 21,223
BASIC NET INCOME PER COMMON SHARE (in dollars per share)	$ 1.11	$ 0.79	$ 1.92	$ 1.39
DILUTED NET INCOME PER COMMON SHARE (in dollars per share)	$ 1.10	$ 0.78	$ 1.90	$ 1.37
Weighted average shares outstanding - Basic (in shares)	15,008	15,312	14,978	15,319
Weighted average shares outstanding - Diluted (in shares)	15,176	15,513	15,155	15,498

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 28,736	$ 21,223
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	5,121	3,819
Amortization of intangible assets	5,993	3,641
Stock-based compensation expense	3,133	2,194
Deferred financing cost amortization	291	215
Deferred income taxes	(1,903)	(534)
(Gain) loss on sale of fixed assets	41	(11)
Other non-cash items	190	159
Change in operating assets and liabilities, net of effects of acquisitions:
Trade receivables	(46,016)	(12,554)
Inventories	(979)	(129)
Prepaid expenses and other	1,683	3,410
Accounts payable and accrued liabilities	21,151	6,104
Payments on deferred compensation obligations	(163)	(174)
Net cash provided by operating activities	17,278	27,363
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(6,070)	(3,235)
Proceeds from sale of property and equipment	201	17
Business acquisitions	(67,005)	(60,513)
Other investing activities	(13)	(13)
Net cash used in investing activities	(72,887)	(63,744)
CASH FLOWS FROM FINANCING ACTIVITIES
Term debt borrowings		75,000
Term debt repayments	(2,679)
Borrowings on revolver	207,497	92,952
Repayments on revolver	(147,588)	(119,006)
Payment of deferred fnancing costs	(26)	(1,611)
Stock repurchases under buyback program	(4,667)	(5,650)
Realization of excess tax benefit on stock-based compensation	1,208	1,215
Proceeds from exercise of stock options, including tax benefit	1,863	16
Other financing activities	(51)	(52)
Net cash provided by financing activities	55,557	42,864
Increase (decrease) in cash and cash equivalents	(52)	6,483
Cash and cash equivalents at beginning of year	87	123
Cash and cash equivalents at end of period	$ 35	$ 6,606

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 26, 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 June 26, 2016 and December 31, 2015, and its results of operations and cash flows for the three and six months ended June 26, 2016 and June 28, 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 second quarter and six months ended June 26, 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. In preparation of Patrick’s condensed consolidated financial statements as of and for the second quarter and six months ended June 26, 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. See Notes 9 and 15 for events that occurred subsequent to the balance sheet date.

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 26, 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 $0.6 million of deferred financing costs related to 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 _ D

Note 3 - Deferred Financing / Debt Issuance Costs	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Debt Issuance Costs [Text Block]	3. DEFERRED FINANCING / DEBT ISSUANCE COSTS The condensed consolidated statements of financial position at June 26, 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 December 31, 2015, the total maximum borrowing limit under the Company’s 2015 Credit Facility was $300.0 million, of which $75.0 million or 25%, represented the total commitment under the Term Loan. Unamortized total deferred financing costs were $2.2 million and $2.5 million at June 26, 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. June 26, Dec. 31, (thousands) 2016 2015 Total long-term debt $ 261,714 $ 204,484 Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Total long-term debt, net of deferred financing costs 261,152 203,856 Less: current maturities of long-term debt (10,714 ) (10,714 ) Total long-term debt, less current maturities, net $ 250,438 $ 193,142 June 26, Dec. 31, (thousands) 2016 2015 Total deferred financing costs, net $ 2,248 $ 2,513 Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Net deferred financing costs related to Revolver $ 1,686 $ 1,885

Note 4 - Inventories

Note 4 - Inventories	6 Months Ended
	Jun. 26, 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) June 26, 2016 Dec. 31, 2015 Raw materials $ 60,890 $ 52,601 Work in process 5,878 5,529 Finished goods 10,413 10,450 Less: reserve for inventory obsolescence (2,592 ) (1,897 ) Total manufactured goods, net 74,589 66,683 Materials purchased for resale (distribution products) 29,353 24,406 Less: reserve for inventory obsolescence (1,861 ) (1,611 ) Total materials purchased for resale (distribution products), net 27,492 22,795 Total inventories $ 102,081 $ 89,478

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	6 Months Ended
	Jun. 26, 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 six months 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 second quarter and six months ended June 26, 2016 and June 28, 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 six months of 2016. The Company acquired the following intangible assets in various acquisitions in the first six 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 $ 5,325 $ 16,125 The Progressive Group 3,840 410 1,280 5,530 2,951 8,481 Cana Holdings, Inc. 4,592 510 1,531 6,633 3,572 10,205 Mishawaka Sheet Metal, LLC 4,399 489 1,466 6,354 3,421 9,775 Goodwill Changes in the carrying amount of goodwill for the six months ended June 26, 2016 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 62,285 $ 6,321 $ 68,606 Acquisitions 12,318 2,951 15,269 Other 169 - 169 Balance - June 26, 2016 $ 74,772 $ 9,272 $ 84,044 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 June 26, 2016, the other intangible assets balance of $129.9 million is comprised of $32.3 million of trademarks which have an indefinite life, and therefore, no amortization expense has been recorded, and $97.6 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”), The Progressive Group (“Progressive”), Cana Holdings, Inc. (“Cana”) and Mishawaka Sheet Metal, LLC (“MSM”), the useful life pertaining to non-compete agreements and to customer relationships for all four of these acquisitions was five years and 10 years, respectively. Amortization expense for the Company’s intangible assets in the aggregate was $6.0 million and $3.6 million for the six months ended June 26, 2016 and June 28, 2015, respectively. Other intangible assets, net consist of the following as of June 26, 2016 and December 31, 2015: (thousands) June 26, 2016 Weighted Average Useful Life (in years) Dec. 31, 2015 Weighted Average Useful Life (in years) Customer relationships $ 111,320 10.3 $ 91,164 10.4 Non-compete agreements 11,227 3.6 9,012 3.4 Trademarks 32,264 25,487 154,811 125,663 Less: accumulated amortization (24,897 ) (18,904 ) Other intangible assets, net $ 129,914 $ 106,759 Changes in the carrying value of other intangible assets for the six months ended June 26, 2016 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 95,359 $ 11,400 $ 106,759 Acquisitions 23,787 5,530 29,317 Amortization (4,733 ) (1,260 ) (5,993 ) Other (169 ) - (169 ) Balance - June 26, 2016 $ 114,244 $ 15,670 $ 129,914

Note 6 - Acquisitions

Note 6 - Acquisitions	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	6. A CQUISITIONS General The Company completed four acquisitions in the first six months of 2016 and three acquisitions in 2015, including two in the first six 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 second quarter ended June 26, 2016, revenue and operating income of approximately $16.2 million and $1.9 million, respectively, were included in the Company’s condensed consolidated statements of income relating to the four businesses acquired in 2016. The first six months of 2016 included revenue and operating income of approximately $20.0 million and $2.3 million, respectively. Acquisition-related costs associated with the businesses acquired in 2016 were immaterial. For the second quarter ended June 28, 2015, revenue and operating income of approximately $13.8 million and $2.2 million, respectively, were included in the Company’s condensed consolidated statements of income relating to the businesses acquired in 2015. The first six months of 2015 included revenue and operating income of approximately $20.3 million and $3.0 million, respectively. Acquisition-related costs associated with the business acquired in 2015 were immaterial. 2016 Acquisitions MSM In June 2016, the Company acquired the business and certain assets of Elkhart, Indiana-based MSM, a fabricator of a wide variety of aluminum and steel products primarily serving the recreational vehicle (“RV”) and industrial markets, for a net purchase price of $13.9 million. The acquisition of MSM provides the opportunity for the Company to further expand its presence in the aluminum and steel products market and increase its product offering, market share and per unit content. The results of operations for MSM 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 $ 2,054 Inventories 1,610 Property, plant and equipment 1,575 Prepaid expenses 4 Accounts payable and accrued liabilities (1,091 ) Intangible assets 6,354 Goodwill 3,421 Total net assets acquired $ 13,927 Cana In May 2016, the Company acquired the business and certain assets of Cana, a custom cabinetry manufacturer, primarily serving the manufactured housing (“MH”) industry and the residential, hospitality and institutional markets, for a net purchase price of $17.0 million. The acquisition of Cana, with operating facilities located in Elkhart, Indiana and Americus, Georgia, provides the opportunity for the Company to capitalize on its existing cabinetry manufacturing expertise and increase its product offerings, market share and per unit content. The results of operations for Cana 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 $ 1,134 Inventories 1,151 Property, plant and equipment 5,145 Prepaid expenses 37 Accounts payable and accrued liabilities (649 ) Intangible assets 6,633 Goodwill 3,572 Total net assets acquired $ 17,023 Parkland In February 2016, the Company acquired the business and certain assets of Middlebury, Indiana-based Parkland, a fully integrated designer and manufacturer 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 RV, architectural and industrial markets, for a net purchase price of $25.2 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 $ 2,880 Inventories 5,280 Property, plant and equipment 2,987 Prepaid expenses 86 Accounts payable and accrued liabilities (2,180 ) Intangible assets 10,800 Goodwill 5,325 Total net assets acquired $ 25,178 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 $10.9 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 $ 996 Inventories 3,583 Property, plant and equipment 100 Prepaid expenses 61 Accounts payable and accrued liabilities (2,344 ) Intangible assets 5,530 Goodwill 2,951 Total net assets acquired $ 10,877 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 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 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 second quarter and six months ended June 26, 2016 and June 28, 2015 assumes the Parkland, Progressive, Cana and MSM 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, Cana, MSM, 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 (i) $0.2 million and $0.7 million for the second quarter and six months ended June 26, 2016, respectively, and (ii) $1.4 million and $3.1 million for the second quarter and six months ended June 28, 2015, respectively. Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands except per share data) 2016 2015 2016 2015 Revenue $ 325,788 $ 302,355 $ 626,825 $ 610,401 Net income 16,849 14,595 30,244 27,332 Basic net income per common share 1.12 0.95 2.02 1.78 Diluted net income per common share 1.11 0.94 2.00 1.76 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	6 Months Ended
	Jun. 26, 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 $1.6 million and $1.2 million for the second quarters ended June 26, 2016 and June 28, 2015, respectively, for its stock-based compensation plans on the condensed consolidated statements of income. For the first six months of 2016 and 2015, the Company recorded $3.1 million and $2.2 million, respectively. The Company estimates the fair value of (i) all stock grants as of the grant date using the closing price per share of the Company’s common stock on such date, and (ii) all stock option and stock appreciation rights awards as of the grant date by applying the Black-Scholes option pricing model. 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 Board granted 22,000 restricted stock units (“RSUs”). The Board approved the following share grants under the Plan in the first six months of 2016: 133,187 shares on February 23, 2016, 3,500 shares on March 2, 2016, 2,000 shares on April 11, 2016, and 9,294 shares on May 17, 2016. In addition, on February 23, 2016, the Board granted 22,000 RSUs. As of June 26, 2016, there was approximately $10.0 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 18.4 months.

Note 8 - Net Income Per Common

Note 8 - Net Income Per Common Share	6 Months Ended
	Jun. 26, 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. Income per common share is calculated for the second quarter and six months periods as follows: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands except per share data) 2016 2015 2016 2015 Net income for basic and diluted per share calculation $ 16,703 $ 12,073 $ 28,736 $ 21,223 Weighted average common shares outstanding - basic 15,008 15,312 14,978 15,319 Effect of potentially dilutive securities 168 201 177 179 Weighted average common shares outstanding - diluted 15,176 15,513 15,155 15,498 Basic net income per common share $ 1.11 $ 0.79 $ 1.92 $ 1.39 Diluted net income per common share $ 1.10 $ 0.78 $ 1.90 $ 1.37

Note 9 - Debt

Note 9 - Debt	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	9 . DEBT A summary of total debt outstanding at June 26, 2016 and December 31, 2015 is as follows: June 26, Dec. 31, (thousands) 2016 2015 Long-term debt: Revolver $ 197,428 $ 137,520 Term Loan 64,286 66,964 Total long-term debt 261,714 204,484 Less: current maturities of long-term debt (10,714 ) (10,714 ) Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Total long-term debt, less current maturities, net $ 250,438 $ 193,142 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. (“B of 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”). 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. On July 26, 2016, the Company entered into a second amendment to the 2015 Credit Agreement to expand the 2015 Credit Facility to $360.0 million from $300.0 million by expanding the 2015 Revolver to $269.4 million and the Term Loan to $90.6 million, and to add 1 st 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 initial Term Loan had repayment installments of approximately $2.7 million per quarter with the remaining balance due at maturity. Following the expansion of the Term Loan in July 2016 pursuant to the second amendment, the quarterly repayment installments were increased to approximately $3.9 million beginning on September 30, 2016 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 June 26, 2016, the Company had $64.3 million outstanding under the Term Loan under the LIBOR-based option, and borrowings outstanding under the 2015 Revolver of (i) $187.0 million under the LIBOR-based option and (ii) $10.4 million under the Prime Rate-based option. The interest rate for borrowings at June 26, 2016 was the Prime Rate plus 0.75% (or 4.25%), or LIBOR plus 1.75% (or 2.25%). 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 June 26, 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 June 26, 2016 and for the fiscal period then ended are as follows: Required Actual Consolidated total leverage ratio (12-month period) 3.00 1.92 Consolidated fixed charge coverage ratio (12-month period) 1.50 2.98 Interest paid for the second quarter and first six months of 2016 was $1.6 million and $2.9 million, respectively. For the comparable 2015 periods, interest paid was $0.9 million and $1.7 million, respectively.

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	6 Months Ended
	Jun. 26, 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 June 26, 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 June 26, 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	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. INCOME TAXES The Company recorded income taxes at an estimated effective rate of 36.7% and 36.6% in the second quarter and first six months of 2016, respectively. For both of the comparable 2015 periods, 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 $0.5 million were remaining to be utilized as of June 26, 2016. The Company estimates that it will utilize a majority of the remaining state NOLs by the end of 2016. In both the first six months of 2016 and 2015, the Company realized approximately $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 $16.4 million and $16.5 million in the second quarter and first six months of 2016, respectively. For the comparable periods in 2015, the Company paid income taxes of $10.3 million and $12.0 million, respectively.

Note 12 - Segment Information

Note 12 - Segment Information	6 Months Ended
	Jun. 26, 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. Second Quarter Ended June 26, 2016 (thousands) Manufacturing Distribution Total Net outside sales $ 255,065 $ 60,098 $ 315,163 Intersegment sales 6,414 841 7,255 Total sales 261,479 60,939 322,418 Operating income 31,254 3,912 35,166 Second Quarter Ended June 28, 2015 (thousands) Manufacturing Distribution Total Net outside sales $ 179,613 $ 53,868 $ 233,481 Intersegment sales 4,875 635 5,510 Total sales 184,488 54,503 238,991 Operating income 21,211 3,562 24,773 Six Months Ended June 26, 2016 (thousands) Manufacturing Distribution Total Net outside sales $ 482,014 $ 111,786 $ 593,800 Intersegment sales 11,469 1,528 12,997 Total sales 493,483 113,314 606,797 Operating income 57,412 7,514 64,926 Six Months Ended June 28, 2015 (thousands) Manufacturing Distribution Total Net outside sales $ 349,960 $ 106,909 $ 456,869 Intersegment sales 9,378 1,436 10,814 Total sales 359,338 108,345 467,683 Operating income 39,532 6,855 46,387 The table below presents a reconciliation of segment operating income to consolidated operating income: Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands) 2016 2015 2016 2015 Operating income for reportable segments $ 35,166 $ 24,773 $ 64,926 $ 46,387 Unallocated corporate expenses (3,934 ) (2,420 ) (10,312 ) (6,812 ) Amortization of intangible assets (3,225 ) (1,982 ) (5,993 ) (3,641 ) Consolidated operating income $ 28,007 $ 20,371 $ 48,621 $ 35,934 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 Programs	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Treasury Stock [Text Block]	1 3 . STOCK REPURCHASE PROGRAM S 2013 Repurchase Plan 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 2016 Repurchase Plan 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”). In the second quarter and first six months of 2016, the Company repurchased 40,102 shares at an average price of $44.93 for a total cost of $1.8 million under the 2016 Repurchase Plan. Together under both stock repurchase plans, the Company repurchased, in the aggregate, 110,738 shares of its common stock at an average price of $42.14 for a total cost of $4.7 million in the first six months of 2016. In the first six months of 2015, the Company repurchased 195,750 shares at an average price of $28.86 per share for a total cost of approximately $5.7 million. 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 Transactions	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	14. RELATED PARTY TRANSACTIONS In the first six months of 2016, the Company entered into transactions with companies affiliated with two of its independent Board members. The Company purchased approximately $0.3 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, the Company sold approximately $1.2 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.

Note 15 - Subsequent Events

Note 15 - Subsequent Events	6 Months Ended
	Jun. 26, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	1 5 . SUBSEQUENT EVENTS Acquisitions BH Electronics, Inc. (“BHE”) On July 29, 2016, the Company completed the acquisition of the business and certain assets of BHE, a major designer, engineer and manufacturer of custom thermoformed dash panel assemblies, center consoles and trim panels, complete electrical systems, and related components and parts, primarily for recreational boat manufacturers in the U.S., for a net purchase price of approximately $35 million. The acquisition of BHE provides the opportunity for the Company to expand its product offerings to the marine industry and increase its market share and per unit content. Vacuplast, LLC d/b/a L.S. Manufacturing, Inc. (“LS Mfg.”) On July 1, 2016, the Company completed the acquisition of the business and certain assets of LS Mfg., a manufacturer of a wide variety of thermoformed plastic parts and components, primarily serving the RV industry as well as certain industrial markets, for a net purchase price of approximately $11 million. The acquisition of LS Mfg. provides the opportunity for the Company to expand its product offerings in its existing thermoformed parts and components platform and increase its market share and per unit content. Both of these acquisitions were funded under the Company’s 2015 Credit Facility. The Company is in the process of allocating the purchase consideration to the fair value of the assets acquired for each of these acquisitions and expects to provide a summary of each in its Report on Form 10-Q for the third quarter ended September 25, 2016. The results of operations for both acquisitions will be included in the Company’s condensed consolidated financial statements from the respective dates of acquisition and in the Manufacturing segment.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 26, 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 $0.6 million of deferred financing costs related to 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 _21

Note 3 - Deferred Financing / Debt Issuance Costs (Tables)	6 Months Ended
	Jun. 26, 2016
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	June 26, Dec. 31, (thousands) 2016 2015 Total long-term debt $ 261,714 $ 204,484 Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Total long-term debt, net of deferred financing costs 261,152 203,856 Less: current maturities of long-term debt (10,714 ) (10,714 ) Total long-term debt, less current maturities, net $ 250,438 $ 193,142
Schedule of Debt Issuance Costs, Net [Table Text Block]	June 26, Dec. 31, (thousands) 2016 2015 Total deferred financing costs, net $ 2,248 $ 2,513 Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Net deferred financing costs related to Revolver $ 1,686 $ 1,885

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	6 Months Ended
	Jun. 26, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(thousands) June 26, 2016 Dec. 31, 2015 Raw materials $ 60,890 $ 52,601 Work in process 5,878 5,529 Finished goods 10,413 10,450 Less: reserve for inventory obsolescence (2,592 ) (1,897 ) Total manufactured goods, net 74,589 66,683 Materials purchased for resale (distribution products) 29,353 24,406 Less: reserve for inventory obsolescence (1,861 ) (1,611 ) Total materials purchased for resale (distribution products), net 27,492 22,795 Total inventories $ 102,081 $ 89,478

Note 5 - Goodwill and Intangi23

Note 5 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 26, 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 $ 5,325 $ 16,125 The Progressive Group 3,840 410 1,280 5,530 2,951 8,481 Cana Holdings, Inc. 4,592 510 1,531 6,633 3,572 10,205 Mishawaka Sheet Metal, LLC 4,399 489 1,466 6,354 3,421 9,775
Schedule of Goodwill [Table Text Block]	(thousands) Manufacturing Distribution Total Balance - December 31, 2015 $ 62,285 $ 6,321 $ 68,606 Acquisitions 12,318 2,951 15,269 Other 169 - 169 Balance - June 26, 2016 $ 74,772 $ 9,272 $ 84,044
Schedule of Intangible Assets by Major Class [Table Text Block]	(thousands) June 26, 2016 Weighted Average Useful Life (in years) Dec. 31, 2015 Weighted Average Useful Life (in years) Customer relationships $ 111,320 10.3 $ 91,164 10.4 Non-compete agreements 11,227 3.6 9,012 3.4 Trademarks 32,264 25,487 154,811 125,663 Less: accumulated amortization (24,897 ) (18,904 ) Other intangible assets, net $ 129,914 $ 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 23,787 5,530 29,317 Amortization (4,733 ) (1,260 ) (5,993 ) Other (169 ) - (169 ) Balance - June 26, 2016 $ 114,244 $ 15,670 $ 129,914

Note 6 - Acquisitions (Tables)

Note 6 - Acquisitions (Tables)	6 Months Ended
	Jun. 26, 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 $ 996 Inventories 3,583 Property, plant and equipment 100 Prepaid expenses 61 Accounts payable and accrued liabilities (2,344 ) Intangible assets 5,530 Goodwill 2,951 Total net assets acquired $ 10,877
Parkland Plastics Inc. [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 2,880 Inventories 5,280 Property, plant and equipment 2,987 Prepaid expenses 86 Accounts payable and accrued liabilities (2,180 ) Intangible assets 10,800 Goodwill 5,325 Total net assets acquired $ 25,178
Cana Holdings, Inc. [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 1,134 Inventories 1,151 Property, plant and equipment 5,145 Prepaid expenses 37 Accounts payable and accrued liabilities (649 ) Intangible assets 6,633 Goodwill 3,572 Total net assets acquired $ 17,023
Mishawaka Sheet Metal, LLC [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(thousands) Trade receivables $ 2,054 Inventories 1,610 Property, plant and equipment 1,575 Prepaid expenses 4 Accounts payable and accrued liabilities (1,091 ) Intangible assets 6,354 Goodwill 3,421 Total net assets acquired $ 13,927
Business Acquisition, Pro Forma Information [Table Text Block]	Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands except per share data) 2016 2015 2016 2015 Revenue $ 325,788 $ 302,355 $ 626,825 $ 610,401 Net income 16,849 14,595 30,244 27,332 Basic net income per common share 1.12 0.95 2.02 1.78 Diluted net income per common share 1.11 0.94 2.00 1.76

Note 8 - Net Income Per Commo25

Note 8 - Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 26, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands except per share data) 2016 2015 2016 2015 Net income for basic and diluted per share calculation $ 16,703 $ 12,073 $ 28,736 $ 21,223 Weighted average common shares outstanding - basic 15,008 15,312 14,978 15,319 Effect of potentially dilutive securities 168 201 177 179 Weighted average common shares outstanding - diluted 15,176 15,513 15,155 15,498 Basic net income per common share $ 1.11 $ 0.79 $ 1.92 $ 1.39 Diluted net income per common share $ 1.10 $ 0.78 $ 1.90 $ 1.37

Note 9 - Debt (Tables)

Note 9 - Debt (Tables)	6 Months Ended
	Jun. 26, 2016
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	June 26, Dec. 31, (thousands) 2016 2015 Long-term debt: Revolver $ 197,428 $ 137,520 Term Loan 64,286 66,964 Total long-term debt 261,714 204,484 Less: current maturities of long-term debt (10,714 ) (10,714 ) Less: Net deferred financing costs related to Term Loan (562 ) (628 ) Total long-term debt, less current maturities, net $ 250,438 $ 193,142
Schedule of Required Financial Covenants Compared to Actual Amounts [Table Text Block]	Required Actual Consolidated total leverage ratio (12-month period) 3.00 1.92 Consolidated fixed charge coverage ratio (12-month period) 1.50 2.98

Note 12 - Segment Information (

Note 12 - Segment Information (Tables)	6 Months Ended
	Jun. 26, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Second Quarter Ended June 26, 2016 (thousands) Manufacturing Distribution Total Net outside sales $ 255,065 $ 60,098 $ 315,163 Intersegment sales 6,414 841 7,255 Total sales 261,479 60,939 322,418 Operating income 31,254 3,912 35,166 Second Quarter Ended June 28, 2015 (thousands) Manufacturing Distribution Total Net outside sales $ 179,613 $ 53,868 $ 233,481 Intersegment sales 4,875 635 5,510 Total sales 184,488 54,503 238,991 Operating income 21,211 3,562 24,773 Six Months Ended June 26, 2016 (thousands) Manufacturing Distribution Total Net outside sales $ 482,014 $ 111,786 $ 593,800 Intersegment sales 11,469 1,528 12,997 Total sales 493,483 113,314 606,797 Operating income 57,412 7,514 64,926 Six Months Ended June 28, 2015 (thousands) Manufacturing Distribution Total Net outside sales $ 349,960 $ 106,909 $ 456,869 Intersegment sales 9,378 1,436 10,814 Total sales 359,338 108,345 467,683 Operating income 39,532 6,855 46,387
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Second Quarter Ended Six Months Ended June 26, June 28, June 26, June 28, (thousands) 2016 2015 2016 2015 Operating income for reportable segments $ 35,166 $ 24,773 $ 64,926 $ 46,387 Unallocated corporate expenses (3,934 ) (2,420 ) (10,312 ) (6,812 ) Amortization of intangible assets (3,225 ) (1,982 ) (5,993 ) (3,641 ) Consolidated operating income $ 28,007 $ 20,371 $ 48,621 $ 35,934

Note 13 - Stock Repurchase Pr28

Note 13 - Stock Repurchase Programs (Tables)	6 Months Ended
	Jun. 26, 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 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	$ 0.6
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	Jun. 26, 2016	Dec. 31, 2015
Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 300,000
Term Loan [Member]
Long-term Debt		$ 75,000
Debt Outstanding, Percent		25.00%
Long-term Debt	$ 261,152	$ 203,856
Unamortized Debt Issuance Expense	$ 2,200	$ 2,500

Note 3 - Effect of Accounting S

Note 3 - Effect of Accounting Standards Update (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Long-term Debt, Gross, Including Revolving Line of Credit, Net [Member]
Total long-term debt	$ 261,714	$ 204,484
Less: Net deferred financing costs related to Term Loan	(562)	(628)
Long-term Debt	261,152	203,856
Less: current maturities of long-term debt	(10,714)	(10,714)
Total long-term debt, less current maturities, net	$ 250,438	$ 193,142

Note 3 - Deferred Financing Cos

Note 3 - Deferred Financing Costs (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Total deferred financing costs, net	$ 2,248	$ 2,513
Less: Net deferred financing costs related to Term Loan	(562)	(628)
Net deferred financing costs related to Revolver	$ 1,686	$ 1,885

Note 4 - Inventories (Details)

Note 4 - Inventories (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Manufactured Goods [Member]
Less: reserve for inventory obsolescence	$ (2,592)	$ (1,897)
Distributed Goods [Member]
Less: reserve for inventory obsolescence	(1,861)	(1,611)
Raw materials	60,890	52,601
Work in process	5,878	5,529
Finished goods	10,413	10,450
Total manufactured goods, net	74,589	66,683
Materials purchased for resale (distribution products)	29,353	24,406
Total materials purchased for resale (distribution products), net	27,492	22,795
Total inventories	$ 102,081	$ 89,478

Note 5 - Goodwill and Intangi34

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 31, 2015
Trademarks [Member]
Intangible Assets, Net (Excluding Goodwill)	$ 32,300,000		$ 32,300,000
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)	$ 97,600,000		$ 97,600,000
Noncompete Agreements [Member] | Parkland Plastics Inc. [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Noncompete Agreements [Member] | The Progressive Group [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Noncompete Agreements [Member] | Cana Holdings, Inc. [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Noncompete Agreements [Member] | Mishawaka Sheet Metal, LLC [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life			3 years 219 days		3 years 146 days
Customer Relationships [Member] | Parkland Plastics Inc. [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
Customer Relationships [Member] | The Progressive Group [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
Customer Relationships [Member] | Cana Holdings, Inc. [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
Customer Relationships [Member] | Mishawaka Sheet Metal, LLC [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			10 years 109 days		10 years 146 days
Goodwill and Intangible Asset Impairment	0	$ 0	$ 0	$ 0
Intangible Assets, Net (Excluding Goodwill)	129,914,000		129,914,000		$ 106,759,000
Amortization of Intangible Assets	$ 3,225,000	$ 1,982,000	$ 5,993,000	$ 3,641,000

Note 5 - Intangible Assets (Det

Note 5 - Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 26, 2016USD ($)
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	10,800
Goodwill	5,325
Total intangible Assets and Goodwill	16,125
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	5,530
Goodwill	2,951
Total intangible Assets and Goodwill	8,481
Cana Holdings, Inc. [Member] | Customer Relationships [Member]
Finite-lived intangible assets acquired	4,592
Cana Holdings, Inc. [Member] | Noncompete Agreements [Member]
Finite-lived intangible assets acquired	510
Cana Holdings, Inc. [Member] | Trademarks [Member]
Indefinite-lived intangible assets acquired	1,531
Cana Holdings, Inc. [Member]
Intangible assets	6,633
Goodwill	3,572
Total intangible Assets and Goodwill	10,205
Mishawaka Sheet Metal, LLC [Member] | Customer Relationships [Member]
Finite-lived intangible assets acquired	4,399
Mishawaka Sheet Metal, LLC [Member] | Noncompete Agreements [Member]
Finite-lived intangible assets acquired	489
Mishawaka Sheet Metal, LLC [Member] | Trademarks [Member]
Indefinite-lived intangible assets acquired	1,466
Mishawaka Sheet Metal, LLC [Member]
Intangible assets	6,354
Goodwill	3,421
Total intangible Assets and Goodwill	9,775
Goodwill	$ 15,269

Note 5 - Carrying Amount of Goo

Note 5 - Carrying Amount of Goodwill by Segment (Details) $ in Thousands	6 Months Ended
	Jun. 26, 2016USD ($)
Manufacturing [Member]
Balance	$ 62,285
Goodwill	12,318
Other	169
Balance	74,772
Distribution [Member]
Balance	6,321
Goodwill	2,951
Other
Balance	9,272
Balance	68,606
Goodwill	15,269
Other	169
Balance	$ 84,044

Note 5 - Other Intangible Asset

Note 5 - Other Intangible Assets, Net, by Major Class (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 26, 2016	Dec. 31, 2015
Customer Relationships [Member]
Other finite-lived intangible assets, gross	$ 111,320	$ 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	$ 11,227	$ 9,012
Finite-Lived Intangible Asset, Useful Life	3 years 219 days	3 years 146 days
Trademarks [Member]
Other indefinite-lived intangible assets, gross	$ 32,264	$ 25,487
Total other intangible assets, net, excluding accumulated amortization	154,811	125,663
Less: accumulated amortization	(24,897)	(18,904)
Intangible Assets, Net (Excluding Goodwill)	$ 129,914	$ 106,759

Note 5 - Other Intangible Ass38

Note 5 - Other Intangible Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Manufacturing [Member]
Balance			$ 95,359
Acquisitions			23,787
Amortization			(4,733)
Other			(169)
Balance	$ 114,244		114,244
Distribution [Member]
Balance			11,400
Acquisitions			5,530
Amortization			(1,260)
Other
Balance	15,670		15,670
Balance			106,759
Acquisitions			29,317
Amortization	(3,225)	$ (1,982)	(5,993)	$ (3,641)
Other			(169)
Balance	$ 129,914		$ 129,914

Note 6 - Acquisitions (Details

Note 6 - Acquisitions (Details Textual) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 26, 2016USD ($)	Mar. 27, 2016USD ($)	Jun. 28, 2015USD ($)	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Dec. 31, 2015	May 31, 2016USD ($)	Feb. 29, 2016USD ($)	Sep. 27, 2015USD ($)	May 31, 2015USD ($)	Feb. 28, 2015USD ($)
Acquired Entities [Member]
Revenues	$ 16,200		$ 13,800	$ 20,000	$ 20,300
Operating Income (Loss)	1,900		2,200	2,300	$ 3,000
Mishawaka Sheet Metal, LLC [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	13,927			$ 13,927
Cana Holdings, Inc. [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net							$ 17,023
Parkland Plastics Inc. [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net								$ 25,178
The Progressive Group [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 10,877
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				4	2	3
Operating Income (Loss)	28,007		20,371	$ 48,621	$ 35,934
Business Acquisition, Pro Forma Amortization Expense	$ 200		$ 1,400	$ 700	$ 3,100

Note 6 - Acquisitions - MSM - F

Note 6 - Acquisitions - MSM - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Mishawaka Sheet Metal, LLC [Member]
Trade receivables	$ 2,054
Inventories	1,610
Property, plant and equipment	1,575
Prepaid expenses	4
Accounts payable and accrued liabilities	(1,091)
Intangible assets	6,354
Goodwill	3,421
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	13,927
Goodwill	$ 84,044	$ 68,606

Note 6 - Acquisitions - Cana -

Note 6 - Acquisitions - Cana - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 2016	May 31, 2016	Dec. 31, 2015
Cana Holdings, Inc. [Member]
Trade receivables		$ 1,134
Inventories		1,151
Property, plant and equipment		5,145
Prepaid expenses		37
Accounts payable and accrued liabilities		(649)
Intangible assets		6,633
Goodwill		3,572
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 17,023
Goodwill	$ 84,044		$ 68,606

Note 6 - Acquisitions - Parklan

Note 6 - Acquisitions - Parkland - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Feb. 29, 2016	Dec. 31, 2015
Parkland Plastics Inc. [Member]
Trade receivables		$ 2,880
Inventories		5,280
Property, plant and equipment		2,987
Prepaid expenses		86
Accounts payable and accrued liabilities		(2,180)
Intangible assets		10,800
Goodwill		5,325
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 25,178
Goodwill	$ 84,044		$ 68,606

Note 6 - Acquisitions - Progres

Note 6 - Acquisitions - Progressive - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Mar. 27, 2016	Dec. 31, 2015
The Progressive Group [Member]
Trade receivables		$ 996
Inventories		3,583
Property, plant and equipment		100
Prepaid expenses		61
Accounts payable and accrued liabilities		(2,344)
Intangible assets		5,530
Goodwill		2,951
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 10,877
Goodwill	$ 84,044		$ 68,606

Note 6 - Acquisitions - Better

Note 6 - Acquisitions - Better Way - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 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	$ 84,044	$ 68,606

Note 6 - Acquisitions - SCI - F

Note 6 - Acquisitions - SCI - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 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
Total net assets acquired			$ 20,041
Goodwill	$ 84,044	$ 68,606

Note 6 - Acquisitions - North A

Note 6 - Acquisitions - North American - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	Jun. 26, 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
Total net assets acquired			$ 79,650
Goodwill	$ 84,044	$ 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		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Revenue	$ 325,788	$ 302,355	$ 626,825	$ 610,401
Net income	$ 16,849	$ 14,595	$ 30,244	$ 27,332
Basic net income per common share (in dollars per share)	$ 1.12	$ 0.95	$ 2.02	$ 1.78
Diluted net income per common share (in dollars per share)	$ 1.11	$ 0.94	$ 2	$ 1.76

Note 7 - Stock-based Compensa48

Note 7 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions	May 17, 2016	Apr. 11, 2016	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	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 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												$ 1.6	$ 1.2	$ 3.1	$ 2.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	9,294	2,000	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		$ 10
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition												1 year 192 days

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		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Net income	$ 16,703	$ 12,073	$ 28,736	$ 21,223
Weighted average common shares outstanding - basic (in shares)	15,008	15,312	14,978	15,319
Effect of potentially dilutive securities (in shares)	168	201	177	179
Weighted average common shares outstanding - diluted (in shares)	15,176	15,513	15,155	15,498
Basic net income per common share (in dollars per share)	$ 1.11	$ 0.79	$ 1.92	$ 1.39
Diluted net income per common share (in dollars per share)	$ 1.10	$ 0.78	$ 1.90	$ 1.37

Note 9 - Debt (Details Textual)

Note 9 - Debt (Details Textual) $ in Thousands	Sep. 30, 2016USD ($)	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Jun. 26, 2016USD ($)	Jun. 28, 2015USD ($)	Dec. 31, 2015USD ($)	Jul. 26, 2016USD ($)	Aug. 31, 2015USD ($)	Apr. 28, 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] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 269,400
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Line of Credit		$ 187,000		$ 187,000		$ 133,000
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member] | Prime Rate [Member]
Long-term Line of Credit		$ 10,400		$ 10,400		$ 4,500
Revolving Credit Facility [Member] | The Lenders [Member] | The 2015 Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity								$ 225,000	175,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%				2.00%
Debt Instrument, Interest Rate, Effective Percentage		2.25%		2.25%		2.4375%
Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.75%				1.00%
Debt Instrument, Interest Rate, Effective Percentage		4.25%		4.25%		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] | Subsequent Event [Member]
Long-term Debt							90,600
The Lenders [Member] | The 2015 Credit Facility [Member] | Term Loan [Member] | Scenario, Forecast [Member]
Debt Instrument, Periodic Payment	$ 3,900
The Lenders [Member] | The 2015 Credit Facility [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt		$ 64,300		$ 64,300		$ 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] | Subsequent Event [Member]
Debt Agreement, Maximum Borrowing Capacity							$ 360,000
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								$ 300,000	$ 250,000
Term Loan [Member]
Long-term Debt						75,000
Long-term Debt		261,152		$ 261,152		$ 203,856
Interest Paid		$ 1,600	$ 900	$ 2,900	$ 1,700

Note 9 - Summary of Total Debt

Note 9 - Summary of Total Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 26, 2016	Dec. 31, 2015
Line of Credit [Member]
Long-term debt:
Total long-term debt	$ 197,428	$ 137,520
Term Loan [Member]
Long-term debt:
Total long-term debt	64,286	66,964
Long-term Debt, Gross, Including Revolving Line of Credit, Net [Member]
Long-term debt:
Total long-term debt	261,714	204,484
Less: current maturities of long-term debt	(10,714)	(10,714)
Less: Net deferred financing costs related to Term Loan	(562)	(628)
Total long-term debt, less current maturities, net	$ 250,438	$ 193,142

Note 9 - Required Financial Cov

Note 9 - Required Financial Covenants Compared to Actual Amounts (Details)	6 Months Ended
	Jun. 26, 2016
Required [Member]
Consolidated Leverage Ratio	3
Consolidated Fixed Charge Coverage Ratio	1.5
Scenario, Actual [Member]
Consolidated Leverage Ratio	1.92
Consolidated Fixed Charge Coverage Ratio	2.98

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 31, 2015
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 0.5		$ 0.5		$ 0.7
Effective Income Tax Rate Reconciliation, Percent	36.70%	38.00%	36.60%	38.00%
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options			$ 1.2	$ 1.2
Income Taxes Paid	$ 16.4	$ 10.3	$ 16.5	$ 12

Note 12 - Segment Information54

Note 12 - Segment Information (Details Textual) - Sales Revenue, Goods, Net [Member] - Product Concentration Risk [Member]	6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015
Manufacturing [Member]
Concentration Risk, Percentage	81.00%	77.00%
Distribution [Member]
Concentration Risk, Percentage	19.00%	23.00%

Note 12 - Sales and Operating I

Note 12 - Sales and Operating Income of Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Manufacturing [Member] | Net Outside Sales [Member]
Sales	$ 255,065	$ 179,613	$ 482,014	$ 349,960
Manufacturing [Member] | Intersegment Eliminations [Member]
Sales	6,414	4,875	11,469	9,378
Manufacturing [Member] | Operating Segments [Member]
Total sales	261,479	184,488	493,483	359,338
Operating Income (Loss)	31,254	21,211	57,412	39,532
Distribution [Member] | Net Outside Sales [Member]
Sales	60,098	53,868	111,786	106,909
Distribution [Member] | Intersegment Eliminations [Member]
Sales	841	635	1,528	1,436
Distribution [Member] | Operating Segments [Member]
Total sales	60,939	54,503	113,314	108,345
Operating Income (Loss)	3,912	3,562	7,514	6,855
Net Outside Sales [Member]
Sales	315,163	233,481	593,800	456,869
Intersegment Eliminations [Member]
Sales	7,255	5,510	12,997	10,814
Operating Segments [Member]
Total sales	322,418	238,991	606,797	467,683
Operating Income (Loss)	35,166	24,773	64,926	46,387
Operating Income (Loss)	$ 28,007	$ 20,371	$ 48,621	$ 35,934

Note 12 - Reconciliation of Seg

Note 12 - Reconciliation of Segment Operating Income to Consolidated Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Operating Segments [Member]
Operating Income (Loss)	$ 35,166	$ 24,773	$ 64,926	$ 46,387
Corporate, Non-Segment [Member]
Unallocated corporate expenses	(3,934)	(2,420)	(10,312)	(6,812)
Segment Reconciling Items [Member]
Amortization	(3,225)	(1,982)	(5,993)	(3,641)
Operating Income (Loss)	28,007	20,371	48,621	35,934
Unallocated corporate expenses	(27,277)	(20,022)	(52,015)	(39,853)
Amortization	$ (3,225)	$ (1,982)	$ (5,993)	$ (3,641)

Note 13 - Stock Repurchase Pr57

Note 13 - Stock Repurchase Programs (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2016	Jun. 26, 2016	Jun. 26, 2016	Jun. 28, 2015
The 2016 Stock Repurchase Plan [Member] | Maximum [Member]
Stock Repurchase Program, Authorized Amount	$ 50
The 2016 Stock Repurchase Plan [Member]
Stock Repurchase Program, Period in Force	2 years
Stock Repurchased and Retired During Period, Shares		40,102	40,102
Stock Repurchased and Retired, Average Cost Per Share		$ 44.93	$ 44.93
Stock Repurchased and Retired During Period, Value		$ 1.8	$ 1.8
The 2013 and 2016 Repurchase Plan [Member]
Stock Repurchased and Retired During Period, Shares			110,738	195,750
Stock Repurchased and Retired, Average Cost Per Share			$ 42.14	$ 28.86
Stock Repurchased and Retired During Period, Value			$ 4.7	$ 5.7

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	6 Months Ended	12 Months Ended			42 Months Ended
	Jun. 26, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 26, 2016
Stock Repurchased and Retired During Period, Shares	70,636	618,557	517,125	610,995	1,817,313
Stock Repurchased and Retired During Period, Value	$ 2,865	$ 22,637	$ 13,928	$ 6,078	$ 45,508
Stock Repurchased and Retired, Average Cost Per Share	$ 40.56	$ 36.60	$ 26.93	$ 9.95	$ 25.04

Note 14 - Related Party Trans59

Note 14 - Related Party Transactions (Details Textual) $ in Millions	6 Months Ended
	Jun. 26, 2016USD ($)
Board Member [Member]
Number of Independent Employees for the Company	2
Welch Packaging Group [Member]
Related Party Transaction, Purchases from Related Party	$ 0.3
Utilimaster Corporation [Member]
Revenue from Related Parties	$ 1.2

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) $ in Millions	Jul. 29, 2016	Jul. 01, 2016
BH Electronics, Inc [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 35
LS Mfg [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 11