Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 20, 2015 | Jun. 27, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | STANLEY FURNITURE CO INC. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 14,957,915 | ||
Entity Public Float | $37,000,000 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 797465 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Current assets: | ||
Cash | $5,584,000 | $7,218,000 |
Restricted cash | 1,190,000 | 1,737,000 |
Short-term investments | 10,000,000 | |
Accounts receivable, less allowances of $375 and $270 | 5,853,000 | 5,608,000 |
Inventories: | ||
Finished goods | 23,935,000 | 23,631,000 |
Work-in-process | 268,000 | 249,000 |
Raw materials | 13,000 | 21,000 |
Total inventories | 24,216,000 | 23,901,000 |
Assets of discontinued operations | 1,373,000 | 36,373,000 |
Prepaid expenses and other current assets | 890,000 | 1,441,000 |
Deferred income taxes | 66,000 | 699,000 |
Total current assets | 39,172,000 | 86,977,000 |
Property, plant and equipment, net | 1,990,000 | 1,935,000 |
Cash surrender value of life insurance policies, net | 15,129,000 | 55,000 |
Other assets | 3,416,000 | 6,518,000 |
Total assets | 59,707,000 | 95,485,000 |
Current liabilities: | ||
Accounts payable | 6,425,000 | 7,059,000 |
Liabilities of discontinued operations | 93,000 | 3,003,000 |
Accrued salaries, wages and benefits | 1,738,000 | 3,261,000 |
Other accrued expenses | 1,437,000 | 1,387,000 |
Total current liabilities | 9,693,000 | 14,710,000 |
Deferred income taxes | 66,000 | 699,000 |
Pension plans | 6,936,000 | 6,283,000 |
Other long-term liabilities | 2,033,000 | 2,803,000 |
Total liabilities | 18,728,000 | 24,495,000 |
Commitments and Contingencies | ||
STOCKHOLDERS’ EQUITY | ||
Common stock, $0.02 par value, 25,000,000 shares authorized, 14,780,326 and 14,520,083 shares issued and outstanding, respectively | 283,000 | 283,000 |
Capital in excess of par value | 16,710,000 | 15,732,000 |
Retained earnings | 26,683,000 | 56,575,000 |
Accumulated other comprehensive loss | -2,697,000 | -1,600,000 |
Total stockholders’ equity | 40,979,000 | 70,990,000 |
Total liabilities and stockholders’ equity | $59,707,000 | $95,485,000 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Allowances (in Dollars) | $375 | $270 |
Common stock par value (in Dollars per share) | $0.02 | $0.02 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 14,780,326 | 14,520,083 |
Common stock, shares outstanding | 14,780,326 | 14,520,083 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net sales | $60,623 | $58,559 | $61,260 |
Cost of sales | 48,610 | 45,959 | 47,474 |
Gross profit | 12,013 | 12,600 | 13,786 |
Selling, general and administrative expenses | 14,882 | 16,277 | 15,552 |
Operating loss | -2,869 | -3,677 | -1,766 |
Income from Continued Dumping and Subsidy Offset Act, net | 39,349 | ||
Other (expense) income, net | -2,174 | 67 | 79 |
Interest expense, net | 2,884 | 2,669 | 2,320 |
(Loss) income from continuing operations before income taxes | -7,927 | -6,279 | 35,342 |
Income tax (benefit) expense | -39 | -157 | 645 |
Net (loss) income from continuing operations | -7,888 | -6,122 | 34,697 |
Net (loss) from discontinued operations | -22,004 | -6,712 | -4,719 |
Net (loss) income | ($29,892) | ($12,834) | $29,978 |
Basic (loss) income per share: | |||
(Loss) income from continuing operations (in Dollars per share) | ($0.56) | ($0.43) | $2.42 |
(Loss) income from discontinued operations (in Dollars per share) | ($1.55) | ($0.48) | ($0.33) |
Net (loss) income (in Dollars per share) | ($2.11) | ($0.91) | $2.09 |
Diluted (loss) income per share: | |||
(Loss) income from continuing operations (in Dollars per share) | ($0.56) | ($0.43) | $2.40 |
(Loss) income from discontinued operations (in Dollars per share) | ($1.55) | ($0.48) | ($0.33) |
Net (loss) income (in Dollars per share) | ($2.11) | ($0.91) | $2.07 |
Weighted average shares outstanding: | |||
Basic (in Shares) | 14,197 | 14,147 | 14,328 |
Diluted (in Shares) | 14,197 | 14,147 | 14,484 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net (loss) income | ($29,892) | ($12,834) | $29,978 |
Other comprehensive (loss) income: | |||
Amortization of prior service cost | 154 | 167 | 177 |
Actuarial (gain) loss | 1,013 | -762 | 681 |
Amortization of actuarial loss | -70 | -111 | -80 |
Adjustments to net periodic postretirement (benefit) loss | 1,097 | -706 | 778 |
Comprehensive (loss) income | ($30,989) | ($12,128) | $29,200 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS` EQUITY (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2011 | $287 | $14,898 | $39,431 | ($1,528) | $53,088 |
Balance (in Shares) at Dec. 31, 2011 | 14,524,000 | ||||
Net income (loss) | 29,978 | 29,978 | |||
Other comprehensive income (loss) | -778 | -778 | |||
Fees related to issuance of common stock | -1 | -1 | |||
Restricted stock grants (in Shares) | 188,000 | ||||
Purchase and retirement of common stock | -3 | -658 | -661 | ||
Purchase and retirement of common stock (in Shares) | -146,000 | ||||
Stock-based compensation | 779 | 779 | |||
Balance at Dec. 31, 2012 | 284 | 15,018 | 69,409 | -2,306 | 82,405 |
Balance (in Shares) at Dec. 31, 2012 | 14,566,000 | ||||
Net income (loss) | -12,834 | -12,834 | |||
Other comprehensive income (loss) | 706 | 706 | |||
Exercise of stock options | 1 | 111 | 112 | ||
Exercise of stock options (in Shares) | 35,000 | ||||
Restricted stock grants (in Shares) | 28,000 | ||||
Restricted stock forfeited (in Shares) | -29,000 | ||||
Purchase and retirement of common stock | -2 | -356 | -358 | ||
Purchase and retirement of common stock (in Shares) | -80,000 | ||||
Stock-based compensation | 959 | 959 | |||
Balance at Dec. 31, 2013 | 283 | 15,732 | 56,575 | -1,600 | 70,990 |
Balance (in Shares) at Dec. 31, 2013 | 14,520,000 | ||||
Net income (loss) | -29,892 | -29,892 | |||
Other comprehensive income (loss) | -1,097 | -1,097 | |||
Restricted stock grants (in Shares) | 400,000 | ||||
Restricted stock forfeited (in Shares) | -140,000 | ||||
Stock-based compensation | 978 | 978 | |||
Balance at Dec. 31, 2014 | $283 | $16,710 | $26,683 | ($2,697) | $40,979 |
Balance (in Shares) at Dec. 31, 2014 | 14,780,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Cash received from customers | $60,102 | $59,361 | $60,940 |
Cash paid to suppliers and employees | -67,139 | -61,030 | -67,774 |
Cash from Continued Dumping and Subsidy Offset Act, net | 39,466 | ||
Interest paid, net | -4,179 | -2,516 | -2,218 |
Income tax payments | -42 | -768 | |
Net cash (used) provided by operating activities | -11,216 | -4,227 | 29,646 |
Cash flows from investing activities: | |||
Sale of short-term securities | 10,000 | 15,000 | |
Purchase of short-term securities | -25,000 | ||
Decrease (increase) in restricted cash | 547 | -150 | |
Capital expenditures | -1,873 | -229 | |
Purchase of other assets | -44 | -1,190 | -2,190 |
Net cash provided (used) by investing activities | 10,503 | 11,937 | -27,569 |
Cash flows from financing activities: | |||
Purchase and retirement of common stock | -358 | -661 | |
Proceeds from exercise of stock options | 112 | ||
Payments on insurance policy loans | -13,708 | ||
Proceeds from insurance policy loans | 2,701 | 2,416 | 2,283 |
Net cash (used) provided by financing activities | -11,007 | 2,170 | 1,622 |
Cash flows from discontinued operations: | |||
Cash provided (used) by operating activities | 4,744 | -11,536 | -4,419 |
Cash provided (used) by investing activities | 5,342 | -2,056 | -4,050 |
Net cash provided (used) by discontinued operations | 10,086 | -13,592 | -8,469 |
Net decrease in cash | -1,634 | -3,712 | -4,770 |
Cash at beginning of year | 7,218 | 10,930 | 15,700 |
Cash at end of year | 5,584 | 7,218 | 10,930 |
Reconciliation of net loss to net cash used by operating activities: | |||
Net (loss) income | -29,892 | -12,834 | 29,978 |
Loss from discontinued operations | 22,004 | 6,712 | 4,719 |
Depreciation | 188 | 164 | 70 |
Amortization | 344 | 297 | 14 |
Stock-based compensation | 978 | 959 | 778 |
Other, net | 4 | ||
Changes in assets and liabilities: | |||
Accounts receivable | -488 | 753 | -463 |
Inventories | -315 | 2,306 | -2,615 |
Prepaid expenses and other assets | -1,044 | -2,980 | -2,864 |
Accounts payable | -634 | 2,390 | -117 |
Accrued salaries, wages and benefits | -2,273 | 512 | -1,368 |
Other accrued expenses | 33 | -273 | 19 |
Other long-term liabilities | -117 | -2,237 | 1,495 |
Net cash (used) provided by operating activities | -11,216 | -4,227 | 29,646 |
Non-cash investing activities: | |||
Asset purchases in accounts payable | $80 | $255 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies |
Organization and Basis of Presentation | |
The consolidated financial statements include Stanley Furniture Company, Inc. and our wholly owned subsidiaries. All significant inter-company accounts and transactions have been eliminated. We are a leading design, marketing and sourcing resource in the upscale segment of the wood furniture residential market. | |
For financial reporting purposes, we operate in one reportable segment where substantially all revenues are from the sale of residential wood furniture products. | |
Subsequent events were evaluated through the date these financial statements were issued. | |
Correction of Prior Consolidated Financial Statements | |
Prior year financial statements and appropriate interim periods have been recast in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC”) 205-20-55 to recognize the Young America brand operations within discontinued operations. Results of the discontinued operations are excluded from the accompanying notes to the consolidated financial statements for all periods presented, unless otherwise noted. See Note 9 for additional information. | |
The Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Cash Flows have also been revised for prior period errors related to our legacy Deferred Compensation Plan and not properly reconciling freight expense and the related accounts payable. See Note 2 for additional information. | |
Cash Equivalents | |
Cash and short-term, highly-liquid investments with original maturities of three months or less are considered cash and cash equivalents. | |
Short-term Investments | |
Investments with maturities of greater than three months and less than one year at the time of purchase are considered short-term investments. Our investments are in certificates of deposits, which we intend to hold until maturity. We report the investments at cost with earnings recognized through interest income. | |
Trade Accounts Receivable | |
Substantially all of our trade accounts receivable are due from retailers and dealers that sell residential home furnishings, which consist of a large number of entities with a broad geographic dispersion. We continually perform credit evaluations of our customers and generally do not require collateral. In the event a receivable is determined to be potentially uncollectible, we engage collection agencies to attempt to collect amounts owed to us after all internal collection attempts have ended. Once we have determined the receivable is uncollectible, it is charged against the allowance for doubtful accounts. | |
Revenue Recognition | |
Sales are recognized when title and risk of loss pass to the customer, which typically occurs at the time of shipment. In some cases however, title does not pass until the shipment is delivered to the customer. Revenue includes amounts billed to customers for shipping. Provisions are made at the time revenue is recognized for estimated product returns and for incentives that may be offered to customers. | |
Inventories | |
Inventories are valued at the lower of cost or market. Cost for all inventories is determined using the first-in, first-out (FIFO) method. | |
Property, Plant and Equipment | |
Depreciation of property, plant and equipment is computed using the straight-line method based upon the estimated useful lives. Gains and losses related to dispositions and retirements are included in income. Maintenance and repairs are charged to income as incurred; renewals and betterments are capitalized. Assets are reviewed for possible impairment when events indicate that the carrying amount of an asset may not be recoverable. Assumptions and estimates used in the evaluation of impairment may affect the carrying value of property, plant and equipment, which could result in impairment charges in future periods. Depreciation policy reflects judgments on the estimated useful lives of assets. | |
Capitalized Software Cost | |
We amortize purchased computer software costs using the straight-line method over the estimated economic lives of the related products. Unamortized cost at December 31, 2014 and 2013 was approximately $2.9 million and $3.2 million, respectively, and is included in other assets. | |
Cash Surrender Value of Life Insurance Policies | |
We own 27 life insurance policies as a funding arrangement for our deferred compensation plan discussed in Note 7. These policies have a cash surrender value of $26.2 million. We have $11.1 million in loans and accrued interest outstanding against the cash surrender value. Proceeds from the policies are used to fund certain employee benefits and for other general corporate purposes. We account for the life insurance as a component of employee benefit cost. Consequently the cost of the coverage, increases in cash surrender value and any resulting gains or losses related to those insurance policies are recorded as increases or decreases in operating income. Interest on the loans against the cash surrender value are reflected as interest expense on the Consolidated Statement of Operations. Cash surrender value that does not have borrowings against it grows at an annual rate of 4%. Cash surrender value that does have borrowings against it grows at an annual rate of 12.63%. We pay interest at 13.13% on the loans against cash surrender value. | |
Actuarially valued benefit accruals and expenses | |
We maintain three actuarially valued benefit plans. These are our deferred compensation plan, our supplemental employee retirement plan and our postretirement health care benefits program. The liability for these programs and the majority of their annual expense are developed from actuarial valuations. Inherent in these valuations are key assumptions, including discount rates and mortality projections, which are usually updated on annual basis near the beginning of each year. We are required to consider current market conditions, including changes in interest rates in making these assumptions. Changes in projected liability and expense may occur in the future due to changes in these assumptions. The key assumptions used in developing the projected liabilities and expenses associated with the plans are outlined in Note 7 of the consolidated financial statements. | |
Income Taxes | |
Deferred income taxes are determined based on the difference between the consolidated financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Deferred tax expense represents the change in the deferred tax asset/liability balance. Income tax credits are reported as a reduction of income tax expense in the year in which the credits are generated. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. Interest and penalties on uncertain tax positions are recorded as income tax expense. | |
Fair Value of Financial Instruments | |
Accounting for fair value measurements requires disclosure of the level within the fair value hierarchy in which fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). The fair value of trade receivables, trade payables and letters of credit approximate the carrying amount because of the short maturity of these instruments. | |
Earnings per Common Share | |
Basic earnings per share is computed based on the weighted average number of common shares outstanding. Diluted earnings per share includes any dilutive effect of outstanding stock options and restricted stock calculated using the treasury stock method. | |
Stock-Based Compensation | |
We record share-based payment awards at fair value on the grant date of the awards, based on the estimated number of awards that are expected to vest, over the vesting period. The fair value of stock options was determined using the Black-Scholes option-pricing model. The fair value of the restricted stock awards was based on the closing price of the Company’s common stock on the date of the grant. | |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Changes in such estimates may affect amounts reported in future periods. | |
New Accounting Pronouncements | |
In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), which updated the guidance in ASC Topic 205, Presentation of Financial Statements, and ASC Topic 360, Property, Plant and Equipment. The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. This guidance will become effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years with early adoption permitted. We early adopted that guidance and followed such guidance for reporting of the discontinued Young America product line in 2014. | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU 2014-09), which created ASC Topic 606, Revenue from Contracts with Customers, and supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for the annual periods beginning after December 15, 2016, and the interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with an option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the impact of the adoption on our consolidated financial statements nor determined the method by which we will adopt the standard in 2017. | |
In June 2014, the FASB issued Accounting Standards Update No. 2014-12 (ASU 2014-12), which updated the guidance in ASC Topic 718, Compensation – Stock Compensation. The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The guidance will become effective for annual periods beginning on or after December 15, 2015, and interim periods within those years, with earlier adoption permitted. We will adopt this guidance as required in the first quarter of 2016. This adoption of this update will not have a material effect on our statements of operations, financial position or cash flows. | |
In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Management will be required to perform interim and annual assessments of the Company’s ability to continue as a going concern within one year of the date the financial statements are issued. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within those years, with early adoption permitted. The adoption of this standard is not expected to have an impact on the Company’s financial statement disclosures. |
Revision_of_prior_period_finan
Revision of prior period financial statements and out-of-period adjustments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||||||||||
Accounting Changes and Error Corrections [Text Block] | 2. Revision of prior period financial statements and out-of-period adjustments | ||||||||||||||||||||
During the year ended December 31, 2014, we identified and corrected two errors that originated in prior periods. We assessed the materiality of the errors using quantitative and qualitative factors. Based on this analysis, we determined that the errors were immaterial to each of the prior reporting periods affected. However, we have concluded that correcting the errors in our 2014 consolidated financial statements would materially understate the results for the year ending December 31, 2014. Accordingly, we have reflected the corrections of the prior period errors in the periods in which they originated and revised our consolidated balance sheet as of December 31, 2013, our consolidated statements of operations and comprehensive (loss) income, our consolidated statements of changes in stockholders' equity and our consolidated statements of cash flows for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||
The first error was an understatement of our benefit liability related to a legacy deferred compensation plan. The plan was effective in 1986 and since the inception of the plan, we have recorded the plan’s liability based on the participants’ deferred amount plus an overall rate of return less any payments made to participants. The plan should have been accounted for as a pension plan with the liability determined based on the ultimate projected benefit that would be owed participants based on the payments over time under the plan using expected mortality, discounted using a high quality corporate bond discount rate. The second error originated in 2012 and was the result of not properly recognizing ocean freight expense and the related accounts payable. | |||||||||||||||||||||
The previously reported annual amounts included in the following tables reflect recasting for discontinued operations associated with ceasing manufacturing of our Young America product line (see Note 9). | |||||||||||||||||||||
The effects of the error corrections on the consolidated balance sheet as of December 31, 2013 are as follows (in thousands): | |||||||||||||||||||||
As Previously | Correction | Revised | |||||||||||||||||||
Reported | |||||||||||||||||||||
Inventory | $ | 23,640 | $ | 261 | $ | 23,901 | |||||||||||||||
Total assets | $ | 95,224 | $ | 261 | $ | 95,485 | |||||||||||||||
Accounts payable | $ | 5,989 | $ | 1,070 | $ | 7,059 | |||||||||||||||
Total current liabilities | $ | 13,640 | $ | 1,070 | $ | 14,710 | |||||||||||||||
Deferred compensation, long-term portion | $ | 661 | $ | 3,842 | $ | 4,503 | |||||||||||||||
Total liabilities | $ | 19,583 | $ | 4,912 | $ | 24,495 | |||||||||||||||
Retained earnings | $ | 59,784 | $ | -3,209 | $ | 56,575 | |||||||||||||||
Accumulated other comprehensive loss | -158 | -1,442 | -1,600 | ||||||||||||||||||
Total stockholders’ equity | $ | 75,641 | $ | -4,651 | $ | 70,990 | |||||||||||||||
At December 31, 2011, retained earnings and accumulated other comprehensive loss were reported as $42,037,000 and ($182,000) and were revised to $39,431,000 and ($1,528,000), respectively. | |||||||||||||||||||||
The effects of the error corrections on the consolidated statements of operations and comprehensive (loss) income for the years ended December 31, 2013 and 2012 are as follows (in thousands): | |||||||||||||||||||||
31-Dec-13 | As Previously Reported | Correction | Revised | ||||||||||||||||||
Net sales | $ | 58,559 | $ | - | $ | 58,559 | |||||||||||||||
Total expenses | 61,991 | 245 | 62,236 | ||||||||||||||||||
Operating loss | -3,432 | 245 | -3,677 | ||||||||||||||||||
Net loss from continuing operations | -5,877 | 245 | -6,122 | ||||||||||||||||||
Net loss from discontinued operations | -6,760 | -48 | -6,712 | ||||||||||||||||||
Net loss | -12,637 | 197 | -12,834 | ||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Actuarial gain | -460 | -302 | -762 | ||||||||||||||||||
Amortization of actuarial loss | -33 | -78 | -111 | ||||||||||||||||||
Adjustments to net periodic benefit income | -326 | -380 | -706 | ||||||||||||||||||
Comprehensive loss | $ | -12,311 | $ | -183 | $ | -12,128 | |||||||||||||||
31-Dec-12 | As Previously | Correction | Revised | ||||||||||||||||||
Reported | |||||||||||||||||||||
Net sales | $ | 61,260 | $ | - | $ | 61,260 | |||||||||||||||
Total expenses | 62,544 | 482 | 63,026 | ||||||||||||||||||
Operating loss | -1,284 | 482 | -1,766 | ||||||||||||||||||
Net income from continuing operations | 35,179 | 482 | 34,697 | ||||||||||||||||||
Net loss from discontinued operations | -4,795 | -76 | -4,719 | ||||||||||||||||||
Net income | 30,384 | 406 | 29,978 | ||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Actuarial loss | 157 | 524 | 681 | ||||||||||||||||||
Amortization of actuarial loss | -32 | -48 | -80 | ||||||||||||||||||
Adjustments to net periodic benefit cost | 302 | 476 | 778 | ||||||||||||||||||
Comprehensive income | $ | 30,082 | $ | -882 | $ | 29,200 | |||||||||||||||
Since our primary statement of cash flows is presented on the direct method, the revisions above did not have an impact on the statements of cash flows. However, the impact of the revision amounts above have been adjusted in the reconciliation of net (loss) income to net cash (used by) provided by operating activities by adjusting the net (loss) income totals and the inventory, accounts payable, and other long-term liabilities totals within the changes in assets and liabilities section. | |||||||||||||||||||||
During 2014, management noted that a current asset of approximately $2.5 million related to prepaid legal services should have been classified as non-current. We have revised the consolidated balance sheet for December 31, 2013 to appropriately classify this asset as noncurrent. | |||||||||||||||||||||
The effect of the error correction on the consolidated statements of operations and comprehensive (loss) income for the interim periods within the years ended December 31, 2014 and 2013 are as follows (in thousands): | |||||||||||||||||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Reported: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 21,891 | $ | 26,052 | $ | 24,038 | $ | 24,166 | $ | 13,928 | $ | 14,661 | $ | 22,744 | |||||||
Operating loss | -4,025 | -1,472 | -18,321 | -2,928 | -378 | -232 | -3,860 | ||||||||||||||
Net loss from continuing operations | - | - | - | - | -1,146 | -770 | - | ||||||||||||||
Net loss from discontinued operations | - | - | - | - | -1,118 | -1,700 | - | ||||||||||||||
Net loss | -4,410 | -2,094 | -19,060 | -3,529 | -2,264 | -2,470 | -4,544 | ||||||||||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Recast for discontinued operations: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 14,642 | $ | 16,169 | $ | 16,033 | $ | 14,465 | $ | 13,928 | $ | 14,661 | $ | 13,264 | |||||||
Operating (loss) income | -1,124 | 29 | -1,018 | -1,558 | -378 | -232 | -1,671 | ||||||||||||||
Net loss from continuing operations | -1,509 | -593 | -1,757 | -2,159 | -1,146 | -770 | -2,355 | ||||||||||||||
Net loss from discontinued operations | -2,901 | -1,501 | -17,303 | -1,370 | -1,118 | -1,700 | -2,189 | ||||||||||||||
Net loss | -4,410 | -2,094 | -19,060 | -3,529 | -2,264 | -2,470 | -4,544 | ||||||||||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Adjustments: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
Operating (loss) income | -216 | - | -440 | - | -292 | - | -245 | ||||||||||||||
Net loss from continuing operations | -216 | - | -440 | - | -292 | - | -245 | ||||||||||||||
Net loss from discontinued operations | - | - | - | - | - | - | 48 | ||||||||||||||
Net loss | $ | -216 | $ | - | $ | -440 | $ | - | $ | -292 | $ | - | $ | -197 | |||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Revised: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 14,642 | $ | 16,169 | $ | 16,033 | $ | 14,465 | $ | 13,928 | $ | 14,661 | $ | 13,264 | |||||||
Operating (loss) income | -1,340 | 29 | -1,458 | -1,558 | -670 | -232 | -1,916 | ||||||||||||||
Net loss from continuing operations | -1,725 | -593 | -2,197 | -2,159 | -1,438 | -770 | -2,600 | ||||||||||||||
Net loss from discontinued operations | -2,901 | -1,501 | -17,303 | -1,370 | -1,118 | -1,700 | -2,141 | ||||||||||||||
Net loss | $ | -4,626 | $ | -2,094 | $ | -19,500 | $ | -3,529 | $ | -2,556 | $ | -2,470 | $ | -4,741 | |||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | 3. Property, Plant and Equipment | |||||||
Depreciable | ||||||||
lives | (in thousands) | |||||||
(in years) | 2014 | 2013 | ||||||
Machinery and equipment | 5 to 12 | $ | 3,883 | $ | 3,883 | |||
Leasehold improvements | 15 | 1,833 | 1,589 | |||||
Property, plant and equipment, at cost | 5,716 | 5,472 | ||||||
Less accumulated depreciation | 3,726 | 3,537 | ||||||
Property, plant and equipment, net | $ | 1,990 | $ | 1,935 | ||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income Tax Disclosure [Text Block] | 4. Income Taxes | ||||||||
The provision for income tax (benefit) expense consists of (in thousands): | |||||||||
2014 | 2013 | 2012 | |||||||
Current: | |||||||||
Federal | $ | - | $ | -18 | $ | 434 | |||
State | -39 | -139 | 211 | ||||||
Total current | -39 | -157 | 645 | ||||||
Deferred: | |||||||||
Federal | - | - | - | ||||||
State | - | - | - | ||||||
Total deferred | - | - | - | ||||||
Income tax (benefit) expense | $ | -39 | $ | -157 | $ | 645 | |||
A reconciliation of the difference between the federal statutory income tax rate and the effective income tax rate follows: | |||||||||
2014 | 2013 | 2012 | |||||||
Federal statutory rate | -35 | % | -35 | % | 35 | % | |||
State tax, net of federal benefit | -2.4 | -2.9 | 2 | ||||||
State tax credits and adjustments | 0.1 | 1 | 0.5 | ||||||
Increase in cash surrender value of life insurance policies | -2.7 | -5.9 | -2.2 | ||||||
Valuation allowance increase (decrease) | 39.9 | 43.7 | -33.7 | ||||||
Other, net | - | -2.1 | 0.5 | ||||||
Effective income tax rate | -0.1 | % | -1.2 | % | 2.1 | % | |||
The income tax effects of temporary differences that comprise deferred tax assets and liabilities at December 31 follow (in thousands): | |||||||||
2014 | 2013 | ||||||||
Current deferred tax assets: | |||||||||
Accounts receivable | $ | 294 | $ | 268 | |||||
Employee benefits | 444 | 901 | |||||||
Other accrued expenses | 331 | 507 | |||||||
Gross current deferred tax asset | 1,069 | 1,676 | |||||||
Less valuation allowance | -1,003 | -977 | |||||||
Net current deferred tax asset | $ | 66 | $ | 699 | |||||
Noncurrent deferred tax assets (liabilities) | |||||||||
Property, plant and equipment | $ | -1,187 | $ | -6,306 | |||||
Employee benefits | 5,205 | 4,774 | |||||||
Other noncurrent assets | 94 | 109 | |||||||
Contribution carryforward | 279 | - | |||||||
AMT credit | 631 | 631 | |||||||
Net operating loss | 15,633 | 9,844 | |||||||
Gross non-current deferred tax assets (liabilities) | 20,655 | 9,052 | |||||||
Less valuation allowance | -20,721 | -9,751 | |||||||
Net noncurrent deferred tax assets (liabilities) | $ | -66 | $ | -699 | |||||
We have U.S. federal net operating loss carry-forwards of approximately $42.7 million which are available to reduce future taxable income. The federal net operating loss will begin expiring in 2031. We have combined state net operating loss carry-forwards of $28.4 million that will expire at various times beginning in 2026. | |||||||||
During 2014, we recorded a non-cash charge to our valuation allowance of $11.0 million against our December 31, 2014 deferred tax assets. The primary assets which are covered by this valuation allowance are employee benefits and net operating losses in excess of the amounts which can be carried back to prior periods. The valuation allowance was calculated in accordance with the provisions of ASC 740, Income Taxes, which requires an assessment of both positive and negative evidence when measuring the need for a valuation allowance. Our results over the most recent three-year period were heavily affected by our business restructuring activities. Our cumulative loss, excluding income from the Continued Dumping and Subsidy Offset Act, in the most recent three-year period, in our view, represented sufficient negative evidence to require a valuation allowance. We intend to maintain a valuation allowance until sufficient positive evidence exists to support its reversal. Although realization is not assured, we have concluded that the remaining net deferred tax asset in the amount of $66,000 will be realized based on the reversal of existing deferred tax liabilities. The amount of the deferred tax assets actually realized, however, could vary if there are differences in the timing or amount of future reversals of existing deferred tax liabilities. Should we determine that we will not be able to realize all or part of our deferred tax asset in the future, an adjustment to the deferred tax asset will be charged to income in the period such determination is made. | |||||||||
The unrecognized tax benefits activity for the year ended December 31 follow (in thousands): | |||||||||
2014 | 2013 | ||||||||
Unrecognized tax benefits balance at January 1 | $ | 351 | $ | 678 | |||||
Lapse of statute of limitations | -42 | -98 | |||||||
Gross decreases for tax positions of prior years | - | -229 | |||||||
Unrecognized tax benefits balance at December 31 | $ | 309 | $ | 351 | |||||
As of December 31, 2014 and 2013, we had approximately $52,000 and $57,000 of accrued interest related to uncertain tax positions, respectively. | |||||||||
Total amount of unrecognized tax benefits that would affect our effective tax rate if recognized is $201,000 at December 31, 2014 and $228,000 at December 31, 2013. The 2010, 2011, 2012 and 2013 tax years remain open to examination by major taxing jurisdictions. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Stockholders' Equity Note Disclosure [Text Block] | 5. Stockholders’ Equity | |||||
In addition to common stock, authorized capital includes 1,000,000 shares of “blank check” preferred stock. None was outstanding during the three years ended December 31, 2014. The Board of Directors is authorized to issue such stock in series and to fix the designation, powers, preferences, rights, limitations and restrictions with respect to any series of such shares. Such “blank check” preferred stock may rank prior to common stock as to dividend rights, liquidation preferences or both, may have full or limited voting rights and may be convertible into shares of common stock. | ||||||
Basic and diluted earnings per share are calculated using the following share data (in thousands): | ||||||
2014 | 2013 | 2012 | ||||
Weighted average shares outstanding for basic calculation | 14,197 | 14,147 | 14,328 | |||
Dilutive effect of stock options | - | - | 156 | |||
Weighted average shares outstanding for diluted calculation | 14,197 | 14,147 | 14,484 | |||
In 2014 and 2013, the dilutive effect of stock options and restricted shares was not recognized since we had a net loss. Approximately 1.4 million shares in 2014, 1.9 million shares in 2013 and 738,000 shares in 2012 were issuable upon the exercise of stock options, which were not included in the diluted per share calculation because they were anti-dilutive. In 2014 and in 2013, approximately 544,000 shares and 353,000 shares of restricted stock, respectively, were not included because they were anti-dilutive. | ||||||
In July 2012, the Board of Directors authorized the purchase of up to $5.0 million of our common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, at prices the Company deems appropriate. In 2014, no repurchases of our common stock were made. During 2013, we used $358,000 to repurchase 80,077 shares of our common stock. In 2012, we used $661,000 to repurchase 146,015 shares of our common stock. |
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Stock Based Compensation | |||||||||
The Stanley Furniture Company, Inc. 2012 Incentive Compensation Plan (Incentive Compensation Plan) provides for the granting of performance grants, performance shares, stock options, restricted stock, restricted stock units, and stock appreciation rights to employees and certain service providers. Under this plan, the aggregate number of common shares that may be issued through awards of any form is 1.6 million. In addition, shares authorized under the 2008 Incentive Compensation Plan are also available for issuance under the Incentive Compensation Plan if they are unissued or subsequently expire, are forfeited or terminate unexercised. | ||||||||||
Stock Options | ||||||||||
The options are issued at market value on the date of grant and have a term of 10 years from the grant date. In general, employee grants vest ratably over a four to five year period and Director grants vest after one year. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the option and each vesting date. We have estimated the fair value of all stock option awards as of the date of the grant by applying the Black-Scholes pricing valuation model. | ||||||||||
The application of this valuation model involves assumptions that are judgmental and sensitive in the determination of compensation expense. No options were granted in 2014 or in 2013. For options granted in 2012, the weighted average for key assumptions used in determining the fair value are as follows: | ||||||||||
2012 | ||||||||||
Expected price volatility | 53.25% | |||||||||
Risk-free interest rate | 0.91% | |||||||||
Weighted average expected life in years | 5.5 | |||||||||
Forfeiture rate | 21.87% | |||||||||
Historical information was the primary basis for the selection of the expected volatility, expected dividend yield, forfeiture rate and the expected lives of the options. The risk-free interest rate was selected based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued. | ||||||||||
Stock option activity for the three years ended December 31, 2014, follows: | ||||||||||
Number | Weighted-Average | Weighted-Average Remaining Contractual Term | Aggregate | |||||||
of shares | Exercise Price | (in years) | Intrinsic | |||||||
Value | ||||||||||
(in thousands) | ||||||||||
Outstanding at December 31, 2011 | 1,814,956 | $ | 6.39 | 7.1 | ||||||
Expired | -22,000 | 17.62 | ||||||||
Granted | 297,014 | 4.43 | ||||||||
Outstanding at December 31, 2012 | 2,089,970 | $ | 5.99 | 6.4 | ||||||
Exercised | -35,246 | 3.16 | ||||||||
Forfeited | -82,616 | 3.7 | ||||||||
Expired | -28,000 | 11.75 | ||||||||
Outstanding at December 31, 2013 | 1,944,108 | $ | 6.06 | 6.7 | ||||||
Forfeited | -465,786 | 4.76 | ||||||||
Expired | -106,968 | 12.88 | ||||||||
Outstanding at December 31, 2014 | 1,371,354 | $ | 5.97 | 5.7 | $ | - | ||||
Exercisable at December 31, 2014 | 1,212,336 | $ | 6.24 | 5.4 | $ | - | ||||
As of December 31, 2014, there was $216,757 of total unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a weighted-average remaining vesting period of 1.7 years. | ||||||||||
The average fair market value of options granted in 2012, and cash proceeds, tax benefits and intrinsic value related to total stock options exercised during 2013 are as follows (in thousands, except per share data): | ||||||||||
2013 | 2012 | |||||||||
Average fair market value of options granted (per share) | $ | - | $ | 2.12 | ||||||
Proceeds from stock options exercised | $ | 112 | $ | - | ||||||
Intrinsic value of stock options exercised | $ | 21 | $ | - | ||||||
Restricted Stock | ||||||||||
The restricted stock awards are accounted for as “non-vested equity shares” until the awards vest or are forfeited. In general, restricted stock awards for employees are time vested or performance vested and for non-employee directors vest at the end of their current term on the Board. The fair value of each share of restricted stock is the market price of our stock on the grant date. The fair value of each time vested award is amortized into compensation expense on a straight-line basis between the award date and the vesting date. Performance based awards are amortized into compensation expense based on the probability of meeting the performance criteria. In 2014 and 2013, 68,608 and 13,637 of restricted stock awards vested and were released, respectively. No restricted stock awards vested during 2012. | ||||||||||
The following table summarizes information about non-vested share awards as of and for the year ended December 31, 2014: | ||||||||||
Number | Weighted-Average | |||||||||
of shares | Grant Date | |||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2011 | 179,336 | $ 3.07 | ||||||||
Granted | 188,099 | $ 4.48 | ||||||||
Outstanding at December 31, 2012 | 367,435 | $ 3.79 | ||||||||
Forfeited | -29,485 | $ 3.56 | ||||||||
Vested | -13,637 | $ 3.82 | ||||||||
Granted | 28,300 | $ 4.24 | ||||||||
Outstanding at December 31, 2013 | 352,613 | $ 3.85 | ||||||||
Forfeited | -140,448 | $ 3.89 | ||||||||
Vested | -68,608 | $ 3.80 | ||||||||
Granted | 400,691 | $ 3.71 | ||||||||
Outstanding at December 31, 2014 | 544,248 | $ 3.74 | ||||||||
As of December 31, 2014, there was $986,129 of total unrecognized compensation cost related to non-vested restricted stock awards, which is expected to be recognized over a weighted-average remaining vesting period of 2.5 years. |
Employee_Benefits_Plans
Employee Benefits Plans | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | 7. Employee Benefits Plans | |||||||||||||||||
Defined Contribution Plan | ||||||||||||||||||
We maintain a defined contribution plan covering substantially all of our employees and make discretionary matching and profit sharing contributions. The total plan cost, including employer contributions, was $273,000 in 2014, $488,000 in 2013 and $317,000 in 2012. We made the decision in the fourth quarter of 2014 to suspend employer contributions to the plan beginning in 2015. | ||||||||||||||||||
Pensions and other postretirement benefits | ||||||||||||||||||
We maintain a deferred compensation plan and a supplemental retirement plan that are non-qualified plans and considered equivalent to a pension plan. The deferred compensation plan, funded with life insurance policies, permitted certain management employees to defer portions of their compensation and earn a fixed rate of return. Upon retirement, participants in the plan receive an annual payment for their lives with a guarantee of fifteen annual payments. The annual payment amount is determined by a formula that takes into account the deferral amount of the participant. No deferrals have been made since 1991. Benefits under the supplemental retirement plan ceased to accrue after 1995. Participants in the plan receive a monthly payment during retirement based on the benefit accrued at December 31, 1995. Our postretirement health care benefits were terminated for current employees effective January 1, 2010. Prior to this termination, we provided health care benefits to eligible retired employees between the ages of 55 and 65 and provide life insurance benefits to eligible retired employees from age 55 until death. | ||||||||||||||||||
The financial status of the plans at December 31 follows (in thousands): | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||
Beginning benefit obligation | $ | 6,889 | $ | 7,769 | $ | 1,066 | $ | 1,355 | ||||||||||
Interest cost | 263 | 231 | 34 | 31 | ||||||||||||||
Plan participants’ contributions | 57 | 76 | ||||||||||||||||
Actuarial loss (gain) | 1,012 | -477 | 1 | -285 | ||||||||||||||
Benefits paid | -622 | -634 | -226 | -111 | ||||||||||||||
Ending benefit obligation | $ | 7,542 | $ | 6,889 | $ | 932 | $ | 1,066 | ||||||||||
Change in plan assets: | ||||||||||||||||||
Beginning fair value of plan assets | - | - | - | - | ||||||||||||||
Employer contributions | 622 | 634 | 169 | 35 | ||||||||||||||
Plan participants’ contributions | 57 | 76 | ||||||||||||||||
Benefits paid | -622 | -634 | -226 | -111 | ||||||||||||||
Ending fair value of plan assets | - | - | - | - | ||||||||||||||
Funded status | $ | -7,542 | $ | -6,889 | $ | -932 | $ | -1,066 | ||||||||||
Amount recognized in the consolidated balance sheet (in thousands): | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Current liabilities | $ | -606 | $ | -606 | $ | -98 | $ | -142 | ||||||||||
Noncurrent liabilities | -6,936 | -6,283 | -834 | -924 | ||||||||||||||
Total | $ | -7,542 | $ | -6,889 | $ | -932 | $ | -1,066 | ||||||||||
Amount recognized in accumulated other comprehensive income (loss) (in thousands): | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Net loss (gain) | $ | 2,934 | $ | 2,006 | $ | -152 | $ | -167 | ||||||||||
Prior service cost (credit) | - | - | -92 | -246 | ||||||||||||||
Total | $ | 2,934 | $ | 2,006 | $ | -244 | $ | -413 | ||||||||||
Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) (in thousands): | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
2014 | Revised | Revised | 2014 | 2013 | 2012 | |||||||||||||
2013 (Note 2) | 2012 (Note 2) | |||||||||||||||||
Net periodic benefit cost: | ||||||||||||||||||
Interest cost | $ | 263 | $ | 231 | $ | 292 | $ | 34 | $ | 31 | $ | 49 | ||||||
Amortization of net loss (gain) | 84 | 111 | 69 | -14 | - | 11 | ||||||||||||
Amortization of prior service cost | - | - | - | -154 | -167 | -177 | ||||||||||||
Net periodic benefit cost (income) | $ | 347 | $ | 342 | $ | 361 | $ | -134 | $ | -136 | $ | -117 | ||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | ||||||||||||||||||
Net loss (gain) | $ | 1,012 | $ | -477 | $ | 747 | $ | 1 | $ | -285 | $ | -66 | ||||||
Amortization of net (loss) gain | -84 | -111 | -69 | 14 | - | -11 | ||||||||||||
Amortization of prior service cost | - | - | - | 154 | 167 | 177 | ||||||||||||
Total recognized in other comprehensive income (loss) | $ | 928 | $ | -588 | $ | 678 | $ | 169 | $ | -118 | $ | 100 | ||||||
Total recognized in net periodic benefit cost and other comprehensive income (loss) | $ | 1,275 | $ | -246 | $ | 1,039 | $ | 35 | $ | -254 | $ | -17 | ||||||
The amounts in accumulated other comprehensive (loss) income that are expected to be recognized as components of net periodic benefit cost during 2015 are as follows (in thousands): | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
Net loss (gain) | $ | 129 | $ | -8 | ||||||||||||||
Prior service credit | - | -92 | ||||||||||||||||
Total | $ | 129 | $ | -100 | ||||||||||||||
The assumptions used to determine the plan’s financial status and postretirement benefit cost: | ||||||||||||||||||
Pension Plans | Other Benefits | |||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||
Discount rate for funded status | 3.50% | 4.00% | 3.10% | 3.10% | 3.50% | 2.65% | ||||||||||||
Discount rate for benefit cost | 4.00% | 3.10% | 4.15% | 3.50% | 2.65% | 3.70% | ||||||||||||
Health care cost assumed trend rate for next year | 7.00% | 7.50% | 8.00% | |||||||||||||||
Rate that the cost trend rate gradually declines to | 5.50% | 5.50% | 5.50% | |||||||||||||||
Year that the rate reaches the rate it is assumed to remain at | 2018 | 2018 | 2018 | |||||||||||||||
An increase or decrease in the assumed health care cost trend rate of one percentage point in each future year would affect the accumulated postretirement benefit obligation at December 31, 2014 by approximately $310 and the annual postretirement benefit cost by approximately $10. | ||||||||||||||||||
Estimated future benefit payments are as follows (in thousands): | ||||||||||||||||||
Pension | Other | |||||||||||||||||
Plans | Benefits | |||||||||||||||||
Estimated net future benefit payments: | ||||||||||||||||||
2015 | $ | 606 | $ | 98 | ||||||||||||||
2016 | 599 | 92 | ||||||||||||||||
2017 | 589 | 90 | ||||||||||||||||
2018 | 575 | 82 | ||||||||||||||||
2019 | 559 | 79 | ||||||||||||||||
2020 - 2024 | 2,530 | 338 | ||||||||||||||||
Estimated contributions for 2015 | $ | 606 | $ | 98 | ||||||||||||||
The accrued liabilities relating to these plans are included in accrued salaries, wages and benefits and in long-term liabilities. The cash surrender value of company owned life insurance policies associated with the deferred compensation plan, net of policy loans ($11.0 million and $22.0 million at December 31, 2014 and 2013, respectively) and accrued interest, are reflected as an asset on the balance sheet. During the fourth quarter of 2014, we used $15.0 million in cash to pay down loans and accrued interest against these policies. Policy loan interest of $2.9 million, $2.7 million, and $2.4 million was charged to interest expense in 2014, 2013 and 2012, respectively. |
Restructuring_and_Related_Char
Restructuring and Related Charges | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Restructuring and Related Activities [Abstract] | |||||||||
Restructuring and Related Activities Disclosure [Text Block] | 8. Restructuring and Related Charges | ||||||||
We are currently leasing warehouse space in Stanleytown, Virginia, that goes through the end of 2015. Over the last few years we have continually evaluated our overall warehousing and distribution requirements and in 2012 we reduced our usage of the Stanleytown, Virginia facility and exited it in 2014. As a result, we took a charge for future lease obligations in 2012 of $418,000 for portions of the Stanleytown warehouse facility no longer used. During the second quarter of 2014, we completely exited the facility and took a charge of $354,000 for the remaining lease obligation. | |||||||||
In 2012, we made the strategic decision to consolidate our corporate office and High Point showroom into a single multi-purpose facility in High Point, North Carolina. During 2013, we recorded $770,000 in restructuring charges in selling, general and administrative expenses for severance and relocation costs associated with this move and consolidation. | |||||||||
The following table summarizes restructuring and related expenses for the years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||
2014 | 2013 | 2012 | |||||||
Lease obligation | $ | 354 | $ | - | $ | 418 | |||
Severance and other termination cost | - | 770 | 17 | ||||||
Other cost | - | - | 39 | ||||||
Total restructuring and related charges | $ | 354 | $ | 770 | $ | 474 | |||
The 2014 and 2012 expenses are in cost of sales in the consolidated statement of operations. The expenses for 2013 are recorded in the selling, general and administrative expenses in the consolidated statement of operations. | |||||||||
Restructuring accrual activity for the years ended December 31, 2014 and 2013 follows (in thousands): | |||||||||
Severance and other termination costs | Lease | Total | |||||||
Obligations | |||||||||
Accrual January 1, 2013 | $ | - | $ | 732 | $ | 732 | |||
Charges (credits) to expense | 743 | - | 743 | ||||||
Cash Payments | -574 | -244 | -818 | ||||||
Accrual December 31, 2013 | 169 | 488 | 657 | ||||||
(Credits) charges to expense | -54 | 354 | 300 | ||||||
Cash payments | -115 | -362 | -477 | ||||||
Accrual December 31, 2014 | $ | - | $ | 480 | $ | 480 | |||
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 9. Discontinued Operations | ||||||||
During the second quarter of 2014, we concluded that revenue on our Young America product line remained below the level needed to reach profitability and that the time frame needed to assure sustainable profitability was longer than we felt was economically justified. Therefore, we made the decision to cease manufacturing operations at our Robbinsville, North Carolina facility and sell the related assets of this facility. Manufacturing operations were ceased in the third quarter of 2014 and as a result this product line was reflected as a discontinued operation pursuant to the provisions of Accounting Standards Update No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (ASU 2014-08) for all periods presented. | |||||||||
Loss from discontinued operations, net of taxes, comprised the following (in thousands): | |||||||||
2014 | 2013 | 2012 | |||||||
Net sales | $ | 19,193 | $ | 38,385 | $ | 37,310 | |||
Cost of sales | 37,805 | 41,428 | 39,333 | ||||||
Selling, general and administrative expenses | 3,392 | 3,669 | 2,696 | ||||||
Loss from discontinued operations before income taxes | -22,004 | -6,712 | -4,719 | ||||||
Income tax (benefit) expense | - | - | - | ||||||
Loss from discontinued operations, net of taxes | $ | -22,004 | $ | -6,712 | $ | -4,719 | |||
Loss from discontinued operations includes accelerated depreciation and amortization, write-down of inventories and other assets, severance and other termination costs, operating losses related to final manufacturing production and loss on sale of assets. During the fourth quarter of 2014, we completed the sale of all property, plant and equipment for $5.5 million. | |||||||||
Net assets for discontinued operations are as follows (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accounts receivable, net | $ | 695 | $ | 6,394 | |||||
Inventory | 678 | 10,026 | |||||||
Property, plant and equipment | - | 18,209 | |||||||
Other assets | - | 1,744 | |||||||
Total assets | 1,373 | 36,373 | |||||||
Accounts payable and other liabilities | 93 | 3,003 | |||||||
Net assets | $ | 1,280 | $ | 33,370 | |||||
The only ongoing costs for discontinued operations will be warehouse and shipping for distribution of discontinued inventory. |
Income_for_Continued_Dumping_a
Income for Continued Dumping and Subsidy Offset Act (CDSOA) | 12 Months Ended |
Dec. 31, 2014 | |
Income For Continued Dumping And Subsidy Offset Act [Abstract] | |
Income For Continued Dumping And Subsidy Offset Act [Text Block] | 10. Income for Continued Dumping and Subsidy Offset Act (CDSOA) |
The CDSOA provides for distribution of monies collected by U.S. Customs and Border Protection for imports covered by antidumping duty orders entering the United States through September 30, 2007 to qualified domestic producers. During 2012, we recorded income of $39.3 million, net of related expenses, from CDSOA distributions previously withheld by Customs pending resolution of non-supporting producers’ claims seeking to share in these distributions. On October 6, 2014, the Supreme Court denied two of three of the Non-Supporting Producers’ petitions for certiorari review, and on December 15, 2014, the Supreme Court denied the third petition for review. Accordingly, Customs should not seek or be entitled to obtain a return of our CDSOA distribution received in April 2012. No proceeds were received in 2014 and 2013. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||
Dec. 31, 2014 | |||
Commitments and Contingencies Disclosure [Abstract] | |||
Commitments and Contingencies Disclosure [Text Block] | 11. Commitments and Contingencies | ||
During 2012, we entered into a lease agreement for a new corporate office and showroom location that will allow for the consolidation of our corporate offices and our High Point Market showroom into a single multi-purpose facility in High Point, North Carolina. In addition, we entered into a lease agreement to open a new showroom within the Las Vegas Design Center located within the World Market Center Las Vegas in January 2013. During 2014 we leased warehouse and distribution space, showroom and office space and certain technology equipment. Rental expenses charged to operations were $2.7 million, $2.7 million and $2.4 million in 2014, 2013 and 2012, respectively. | |||
At December 31, 2014, the future minimum lease payments for our current operating leases were as follows (in thousands): | |||
Total | |||
2015 | $ | 1,663 | |
2016 | 1,223 | ||
2017 | 812 | ||
2018 | 875 | ||
2019 | 905 | ||
Thereafter | 1,883 | ||
Total minimum lease payments | $ | 7,361 | |
During 2011 we entered into an agreement for the issuance of letters of credit to cover estimated exposures, most notably with workman’s compensation claims. This agreement requires us to maintain a compensating balance with the issuer for the amounts outstanding. We currently have letters of credit outstanding in the amount of $1.2 million. The compensating balance amount is reflected as restricted cash on the balance sheet. | |||
In the normal course of business, we are involved in claims and lawsuits, none of which currently, in management’s opinion, will have a material adverse effect on our Consolidated Financial Statements. |
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Quarterly Financial Information [Text Block] | 12. Quarterly Results of Operations (Unaudited) | |||||||||||||||
(in thousands, except per share data) | ||||||||||||||||
2014 Quarters: | Revised | Revised | Revised | Fourth | ||||||||||||
First (Note2) | Second (Note2) | Third (Note2) | ||||||||||||||
Net Sales | $ | 14,642 | $ | 16,033 | $ | 13,928 | $ | 16,020 | ||||||||
Gross profit | 2,938 | 2,725 | 2,624 | 3,726 | ||||||||||||
Net loss from continuing operations | -1,725 | -2,197 | -1 | -1,438 | -2,528 | |||||||||||
Net loss from discontinued operations | -2,901 | -17,303 | -1,118 | -682 | ||||||||||||
Net loss | -4,626 | -19,500 | -1 | -2,556 | -3,210 | |||||||||||
Basic loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.12 | $ | -0.16 | $ | -0.1 | $ | -0.18 | ||||||||
Net loss from discontinued operations | $ | -0.21 | $ | -1.22 | $ | -0.08 | $ | -0.05 | ||||||||
Net loss | $ | -0.33 | $ | -1.38 | $ | -0.18 | $ | -0.23 | ||||||||
Diluted loss per share (3): | ||||||||||||||||
Net loss income from continuing operations | $ | -0.12 | $ | -0.16 | $ | -0.1 | $ | -0.18 | ||||||||
Loss from discontinued operations | $ | -0.21 | $ | -1.22 | $ | -0.08 | $ | -0.05 | ||||||||
Net loss | $ | -0.33 | $ | -1.38 | $ | -0.18 | $ | -0.23 | ||||||||
2013 Quarters: | Revised | Revised | Revised | Revised | ||||||||||||
First (Note 2) | Second (Note 2) | Third (Note 2) | Fourth (Note 2) | |||||||||||||
Net Sales | $ | 16,169 | $ | 14,465 | $ | 14,661 | $ | 13,264 | ||||||||
Gross profit | 4,040 | 2,546 | 3,461 | 2,553 | ||||||||||||
Net loss from continuing operations | -593 | -2 | -2,159 | -2 | -770 | -2 | -2,600 | -2 | ||||||||
Net loss from discontinued operations | -1,501 | -1,370 | -1,700 | -2,141 | ||||||||||||
Net loss | -2,094 | -2 | -3,529 | -2 | -2,470 | -2 | -4,741 | -2 | ||||||||
Basic loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.04 | $ | -0.15 | $ | -0.05 | $ | -0.19 | ||||||||
Net loss from discontinued operations | $ | -0.11 | $ | -0.1 | $ | -0.12 | $ | -0.15 | ||||||||
Net loss | $ | -0.15 | $ | -0.25 | $ | -0.17 | $ | -0.34 | ||||||||
Diluted loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.04 | $ | -0.15 | $ | -0.05 | $ | -0.19 | ||||||||
Net loss from discontinued operations | $ | -0.11 | $ | -0.1 | $ | -0.12 | $ | -0.15 | ||||||||
Net loss | $ | -0.15 | $ | -0.25 | $ | -0.17 | $ | -0.34 | ||||||||
(1) Includes charges of $354,000 for the future lease obligation for a portion of a leased facility no longer required. | ||||||||||||||||
(2) Includes restructuring charges for the consolidation of corporate offices and High Point showroom into a single multi-purpose facility. The 2013 impact were charges of $260,000, $262,000, $10,000 and $238,000 in the first quarter, second quarter, third quarter and fourth quarter, respectively. | ||||||||||||||||
(3) The sum of individual quarterly net income per share may not agree to the total for the year due to each period’s computation being based on the weighted average number of common shares outstanding during each period. |
SCHEDULE_II_VALUATION_AND_QUAL
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | STANLEY FURNITURE COMPANY, INC. | |||||||||||||||
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||
For each of the Three Years in the Period Ended December 31, 2014 | ||||||||||||||||
(in thousands) | ||||||||||||||||
Column A | Column B | Column C | Column D | Column E | ||||||||||||
Charged | ||||||||||||||||
Balance at | (Credited) | Balance at | ||||||||||||||
Beginning | to Costs & | End | ||||||||||||||
Descriptions | of Period | Expenses | Deductions | of Period | ||||||||||||
2014 | ||||||||||||||||
Doubtful receivables | $ | 112 | $ | 171 | $ | 94 | (a) | $ | 189 | |||||||
Discounts, returns,and allowances | 158 | 28 | (b) | - | 186 | |||||||||||
$ | 270 | $ | 199 | $ | 94 | $ | 375 | |||||||||
Valuation allowance for deferred tax assets | $ | 10,727 | $ | 10,997 | $ | - | $ | 21,724 | ||||||||
2013 | ||||||||||||||||
Doubtful receivables | $ | 120 | $ | 29 | $ | 37 | (a) | $ | 112 | |||||||
Discounts, returns, and allowances | 158 | - | - | 158 | ||||||||||||
$ | 278 | $ | 29 | $ | 37 | $ | 270 | |||||||||
Valuation allowance for deferred tax assets (revised) | $ | 5,203 | $ | 5,524 | $ | - | $ | 10,727 | ||||||||
2012 | ||||||||||||||||
Doubtful receivables | $ | 210 | $ | -49 | $ | 41 | (a) | $ | 120 | |||||||
Discounts, returns, and allowances | 196 | -38 | (b) | - | 158 | |||||||||||
$ | 406 | $ | -87 | $ | 41 | $ | 278 | |||||||||
Valuation allowance for deferred tax assets (revised) | $ | 15,336 | $ | -10,133 | $ | - | $ | 5,203 | ||||||||
a) Uncollectible receivables written-off, net of recoveries. | ||||||||||||||||
(b) Represents net increase (decrease) in the reserve. | ||||||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Organization and Basis of Presentation |
The consolidated financial statements include Stanley Furniture Company, Inc. and our wholly owned subsidiaries. All significant inter-company accounts and transactions have been eliminated. We are a leading design, marketing and sourcing resource in the upscale segment of the wood furniture residential market. | |
For financial reporting purposes, we operate in one reportable segment where substantially all revenues are from the sale of residential wood furniture products. | |
Subsequent events were evaluated through the date these financial statements were issued. | |
Reclassification, Policy [Policy Text Block] | Correction of Prior Consolidated Financial Statements |
Prior year financial statements and appropriate interim periods have been recast in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC”) 205-20-55 to recognize the Young America brand operations within discontinued operations. Results of the discontinued operations are excluded from the accompanying notes to the consolidated financial statements for all periods presented, unless otherwise noted. See Note 9 for additional information. | |
The Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Cash Flows have also been revised for prior period errors related to our legacy Deferred Compensation Plan and not properly reconciling freight expense and the related accounts payable. See Note 2 for additional information. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents |
Cash and short-term, highly-liquid investments with original maturities of three months or less are considered cash and cash equivalents. | |
Investment, Policy [Policy Text Block] | Short-term Investments |
Investments with maturities of greater than three months and less than one year at the time of purchase are considered short-term investments. Our investments are in certificates of deposits, which we intend to hold until maturity. We report the investments at cost with earnings recognized through interest income. | |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Trade Accounts Receivable |
Substantially all of our trade accounts receivable are due from retailers and dealers that sell residential home furnishings, which consist of a large number of entities with a broad geographic dispersion. We continually perform credit evaluations of our customers and generally do not require collateral. In the event a receivable is determined to be potentially uncollectible, we engage collection agencies to attempt to collect amounts owed to us after all internal collection attempts have ended. Once we have determined the receivable is uncollectible, it is charged against the allowance for doubtful accounts. | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition |
Sales are recognized when title and risk of loss pass to the customer, which typically occurs at the time of shipment. In some cases however, title does not pass until the shipment is delivered to the customer. Revenue includes amounts billed to customers for shipping. Provisions are made at the time revenue is recognized for estimated product returns and for incentives that may be offered to customers. | |
Inventory, Policy [Policy Text Block] | Inventories |
Inventories are valued at the lower of cost or market. Cost for all inventories is determined using the first-in, first-out (FIFO) method. | |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment |
Depreciation of property, plant and equipment is computed using the straight-line method based upon the estimated useful lives. Gains and losses related to dispositions and retirements are included in income. Maintenance and repairs are charged to income as incurred; renewals and betterments are capitalized. Assets are reviewed for possible impairment when events indicate that the carrying amount of an asset may not be recoverable. Assumptions and estimates used in the evaluation of impairment may affect the carrying value of property, plant and equipment, which could result in impairment charges in future periods. Depreciation policy reflects judgments on the estimated useful lives of assets. | |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Capitalized Software Cost |
We amortize purchased computer software costs using the straight-line method over the estimated economic lives of the related products. Unamortized cost at December 31, 2014 and 2013 was approximately $2.9 million and $3.2 million, respectively, and is included in other assets. | |
Cash Surrender Value of Life Insurance, Policy [Policy Text Block] | Cash Surrender Value of Life Insurance Policies |
We own 27 life insurance policies as a funding arrangement for our deferred compensation plan discussed in Note 7. These policies have a cash surrender value of $26.2 million. We have $11.1 million in loans and accrued interest outstanding against the cash surrender value. Proceeds from the policies are used to fund certain employee benefits and for other general corporate purposes. We account for the life insurance as a component of employee benefit cost. Consequently the cost of the coverage, increases in cash surrender value and any resulting gains or losses related to those insurance policies are recorded as increases or decreases in operating income. Interest on the loans against the cash surrender value are reflected as interest expense on the Consolidated Statement of Operations. Cash surrender value that does not have borrowings against it grows at an annual rate of 4%. Cash surrender value that does have borrowings against it grows at an annual rate of 12.63%. We pay interest at 13.13% on the loans against cash surrender value. | |
Actuarially Valued Benefit Accruals and Expenses Policy, [Policy Text Block] | Actuarially valued benefit accruals and expenses |
We maintain three actuarially valued benefit plans. These are our deferred compensation plan, our supplemental employee retirement plan and our postretirement health care benefits program. The liability for these programs and the majority of their annual expense are developed from actuarial valuations. Inherent in these valuations are key assumptions, including discount rates and mortality projections, which are usually updated on annual basis near the beginning of each year. We are required to consider current market conditions, including changes in interest rates in making these assumptions. Changes in projected liability and expense may occur in the future due to changes in these assumptions. The key assumptions used in developing the projected liabilities and expenses associated with the plans are outlined in Note 7 of the consolidated financial statements. | |
Income Tax, Policy [Policy Text Block] | Income Taxes |
Deferred income taxes are determined based on the difference between the consolidated financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Deferred tax expense represents the change in the deferred tax asset/liability balance. Income tax credits are reported as a reduction of income tax expense in the year in which the credits are generated. A valuation allowance is recorded when it is more likely than not that a deferred tax asset will not be realized. Interest and penalties on uncertain tax positions are recorded as income tax expense. | |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments |
Accounting for fair value measurements requires disclosure of the level within the fair value hierarchy in which fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). The fair value of trade receivables, trade payables and letters of credit approximate the carrying amount because of the short maturity of these instruments. | |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share |
Basic earnings per share is computed based on the weighted average number of common shares outstanding. Diluted earnings per share includes any dilutive effect of outstanding stock options and restricted stock calculated using the treasury stock method. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation |
We record share-based payment awards at fair value on the grant date of the awards, based on the estimated number of awards that are expected to vest, over the vesting period. The fair value of stock options was determined using the Black-Scholes option-pricing model. The fair value of the restricted stock awards was based on the closing price of the Company’s common stock on the date of the grant. | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Changes in such estimates may affect amounts reported in future periods. | |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements |
In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), which updated the guidance in ASC Topic 205, Presentation of Financial Statements, and ASC Topic 360, Property, Plant and Equipment. The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. This guidance will become effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years with early adoption permitted. We early adopted that guidance and followed such guidance for reporting of the discontinued Young America product line in 2014. | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU 2014-09), which created ASC Topic 606, Revenue from Contracts with Customers, and supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for the annual periods beginning after December 15, 2016, and the interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with an option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the impact of the adoption on our consolidated financial statements nor determined the method by which we will adopt the standard in 2017. | |
In June 2014, the FASB issued Accounting Standards Update No. 2014-12 (ASU 2014-12), which updated the guidance in ASC Topic 718, Compensation – Stock Compensation. The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The guidance will become effective for annual periods beginning on or after December 15, 2015, and interim periods within those years, with earlier adoption permitted. We will adopt this guidance as required in the first quarter of 2016. This adoption of this update will not have a material effect on our statements of operations, financial position or cash flows. | |
In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Management will be required to perform interim and annual assessments of the Company’s ability to continue as a going concern within one year of the date the financial statements are issued. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within those years, with early adoption permitted. The adoption of this standard is not expected to have an impact on the Company’s financial statement disclosures. |
Revision_of_prior_period_finan1
Revision of prior period financial statements and out-of-period adjustments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As Previously | Correction | Revised | ||||||||||||||||||
Reported | |||||||||||||||||||||
Inventory | $ | 23,640 | $ | 261 | $ | 23,901 | |||||||||||||||
Total assets | $ | 95,224 | $ | 261 | $ | 95,485 | |||||||||||||||
Accounts payable | $ | 5,989 | $ | 1,070 | $ | 7,059 | |||||||||||||||
Total current liabilities | $ | 13,640 | $ | 1,070 | $ | 14,710 | |||||||||||||||
Deferred compensation, long-term portion | $ | 661 | $ | 3,842 | $ | 4,503 | |||||||||||||||
Total liabilities | $ | 19,583 | $ | 4,912 | $ | 24,495 | |||||||||||||||
Retained earnings | $ | 59,784 | $ | -3,209 | $ | 56,575 | |||||||||||||||
Accumulated other comprehensive loss | -158 | -1,442 | -1,600 | ||||||||||||||||||
Total stockholders’ equity | $ | 75,641 | $ | -4,651 | $ | 70,990 | |||||||||||||||
31-Dec-13 | As Previously Reported | Correction | Revised | ||||||||||||||||||
Net sales | $ | 58,559 | $ | - | $ | 58,559 | |||||||||||||||
Total expenses | 61,991 | 245 | 62,236 | ||||||||||||||||||
Operating loss | -3,432 | 245 | -3,677 | ||||||||||||||||||
Net loss from continuing operations | -5,877 | 245 | -6,122 | ||||||||||||||||||
Net loss from discontinued operations | -6,760 | -48 | -6,712 | ||||||||||||||||||
Net loss | -12,637 | 197 | -12,834 | ||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Actuarial gain | -460 | -302 | -762 | ||||||||||||||||||
Amortization of actuarial loss | -33 | -78 | -111 | ||||||||||||||||||
Adjustments to net periodic benefit income | -326 | -380 | -706 | ||||||||||||||||||
Comprehensive loss | $ | -12,311 | $ | -183 | $ | -12,128 | |||||||||||||||
31-Dec-12 | As Previously | Correction | Revised | ||||||||||||||||||
Reported | |||||||||||||||||||||
Net sales | $ | 61,260 | $ | - | $ | 61,260 | |||||||||||||||
Total expenses | 62,544 | 482 | 63,026 | ||||||||||||||||||
Operating loss | -1,284 | 482 | -1,766 | ||||||||||||||||||
Net income from continuing operations | 35,179 | 482 | 34,697 | ||||||||||||||||||
Net loss from discontinued operations | -4,795 | -76 | -4,719 | ||||||||||||||||||
Net income | 30,384 | 406 | 29,978 | ||||||||||||||||||
Other comprehensive loss: | |||||||||||||||||||||
Actuarial loss | 157 | 524 | 681 | ||||||||||||||||||
Amortization of actuarial loss | -32 | -48 | -80 | ||||||||||||||||||
Adjustments to net periodic benefit cost | 302 | 476 | 778 | ||||||||||||||||||
Comprehensive income | $ | 30,082 | $ | -882 | $ | 29,200 | |||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments, Statement of Operations and Comprehensive Income (Loss) [Table Text Block] | (Unaudited) | First | Second | Third | Fourth | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Reported: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 21,891 | $ | 26,052 | $ | 24,038 | $ | 24,166 | $ | 13,928 | $ | 14,661 | $ | 22,744 | |||||||
Operating loss | -4,025 | -1,472 | -18,321 | -2,928 | -378 | -232 | -3,860 | ||||||||||||||
Net loss from continuing operations | - | - | - | - | -1,146 | -770 | - | ||||||||||||||
Net loss from discontinued operations | - | - | - | - | -1,118 | -1,700 | - | ||||||||||||||
Net loss | -4,410 | -2,094 | -19,060 | -3,529 | -2,264 | -2,470 | -4,544 | ||||||||||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Recast for discontinued operations: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 14,642 | $ | 16,169 | $ | 16,033 | $ | 14,465 | $ | 13,928 | $ | 14,661 | $ | 13,264 | |||||||
Operating (loss) income | -1,124 | 29 | -1,018 | -1,558 | -378 | -232 | -1,671 | ||||||||||||||
Net loss from continuing operations | -1,509 | -593 | -1,757 | -2,159 | -1,146 | -770 | -2,355 | ||||||||||||||
Net loss from discontinued operations | -2,901 | -1,501 | -17,303 | -1,370 | -1,118 | -1,700 | -2,189 | ||||||||||||||
Net loss | -4,410 | -2,094 | -19,060 | -3,529 | -2,264 | -2,470 | -4,544 | ||||||||||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Adjustments: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
Operating (loss) income | -216 | - | -440 | - | -292 | - | -245 | ||||||||||||||
Net loss from continuing operations | -216 | - | -440 | - | -292 | - | -245 | ||||||||||||||
Net loss from discontinued operations | - | - | - | - | - | - | 48 | ||||||||||||||
Net loss | $ | -216 | $ | - | $ | -440 | $ | - | $ | -292 | $ | - | $ | -197 | |||||||
(Unaudited) | First | Second | Third | Fourth | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
As Revised: | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2013 | ||||||||||||||
Net sales | $ | 14,642 | $ | 16,169 | $ | 16,033 | $ | 14,465 | $ | 13,928 | $ | 14,661 | $ | 13,264 | |||||||
Operating (loss) income | -1,340 | 29 | -1,458 | -1,558 | -670 | -232 | -1,916 | ||||||||||||||
Net loss from continuing operations | -1,725 | -593 | -2,197 | -2,159 | -1,438 | -770 | -2,600 | ||||||||||||||
Net loss from discontinued operations | -2,901 | -1,501 | -17,303 | -1,370 | -1,118 | -1,700 | -2,141 | ||||||||||||||
Net loss | $ | -4,626 | $ | -2,094 | $ | -19,500 | $ | -3,529 | $ | -2,556 | $ | -2,470 | $ | -4,741 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Depreciable | |||||||
lives | (in thousands) | |||||||
(in years) | 2014 | 2013 | ||||||
Machinery and equipment | 5 to 12 | $ | 3,883 | $ | 3,883 | |||
Leasehold improvements | 15 | 1,833 | 1,589 | |||||
Property, plant and equipment, at cost | 5,716 | 5,472 | ||||||
Less accumulated depreciation | 3,726 | 3,537 | ||||||
Property, plant and equipment, net | $ | 1,990 | $ | 1,935 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2014 | 2013 | 2012 | ||||||
Current: | |||||||||
Federal | $ | - | $ | -18 | $ | 434 | |||
State | -39 | -139 | 211 | ||||||
Total current | -39 | -157 | 645 | ||||||
Deferred: | |||||||||
Federal | - | - | - | ||||||
State | - | - | - | ||||||
Total deferred | - | - | - | ||||||
Income tax (benefit) expense | $ | -39 | $ | -157 | $ | 645 | |||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2014 | 2013 | 2012 | ||||||
Federal statutory rate | -35 | % | -35 | % | 35 | % | |||
State tax, net of federal benefit | -2.4 | -2.9 | 2 | ||||||
State tax credits and adjustments | 0.1 | 1 | 0.5 | ||||||
Increase in cash surrender value of life insurance policies | -2.7 | -5.9 | -2.2 | ||||||
Valuation allowance increase (decrease) | 39.9 | 43.7 | -33.7 | ||||||
Other, net | - | -2.1 | 0.5 | ||||||
Effective income tax rate | -0.1 | % | -1.2 | % | 2.1 | % | |||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2014 | 2013 | |||||||
Current deferred tax assets: | |||||||||
Accounts receivable | $ | 294 | $ | 268 | |||||
Employee benefits | 444 | 901 | |||||||
Other accrued expenses | 331 | 507 | |||||||
Gross current deferred tax asset | 1,069 | 1,676 | |||||||
Less valuation allowance | -1,003 | -977 | |||||||
Net current deferred tax asset | $ | 66 | $ | 699 | |||||
Noncurrent deferred tax assets (liabilities) | |||||||||
Property, plant and equipment | $ | -1,187 | $ | -6,306 | |||||
Employee benefits | 5,205 | 4,774 | |||||||
Other noncurrent assets | 94 | 109 | |||||||
Contribution carryforward | 279 | - | |||||||
AMT credit | 631 | 631 | |||||||
Net operating loss | 15,633 | 9,844 | |||||||
Gross non-current deferred tax assets (liabilities) | 20,655 | 9,052 | |||||||
Less valuation allowance | -20,721 | -9,751 | |||||||
Net noncurrent deferred tax assets (liabilities) | $ | -66 | $ | -699 | |||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2014 | 2013 | |||||||
Unrecognized tax benefits balance at January 1 | $ | 351 | $ | 678 | |||||
Lapse of statute of limitations | -42 | -98 | |||||||
Gross decreases for tax positions of prior years | - | -229 | |||||||
Unrecognized tax benefits balance at December 31 | $ | 309 | $ | 351 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2014 | 2013 | 2012 | |||
Weighted average shares outstanding for basic calculation | 14,197 | 14,147 | 14,328 | |||
Dilutive effect of stock options | - | - | 156 | |||
Weighted average shares outstanding for diluted calculation | 14,197 | 14,147 | 14,484 |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2012 | |||||||||
Expected price volatility | 53.25% | |||||||||
Risk-free interest rate | 0.91% | |||||||||
Weighted average expected life in years | 5.5 | |||||||||
Forfeiture rate | 21.87% | |||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number | Weighted-Average | Weighted-Average Remaining Contractual Term | Aggregate | ||||||
of shares | Exercise Price | (in years) | Intrinsic | |||||||
Value | ||||||||||
(in thousands) | ||||||||||
Outstanding at December 31, 2011 | 1,814,956 | $ | 6.39 | 7.1 | ||||||
Expired | -22,000 | 17.62 | ||||||||
Granted | 297,014 | 4.43 | ||||||||
Outstanding at December 31, 2012 | 2,089,970 | $ | 5.99 | 6.4 | ||||||
Exercised | -35,246 | 3.16 | ||||||||
Forfeited | -82,616 | 3.7 | ||||||||
Expired | -28,000 | 11.75 | ||||||||
Outstanding at December 31, 2013 | 1,944,108 | $ | 6.06 | 6.7 | ||||||
Forfeited | -465,786 | 4.76 | ||||||||
Expired | -106,968 | 12.88 | ||||||||
Outstanding at December 31, 2014 | 1,371,354 | $ | 5.97 | 5.7 | $ | - | ||||
Exercisable at December 31, 2014 | 1,212,336 | $ | 6.24 | 5.4 | $ | - | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | 2013 | 2012 | ||||||||
Average fair market value of options granted (per share) | $ | - | $ | 2.12 | ||||||
Proceeds from stock options exercised | $ | 112 | $ | - | ||||||
Intrinsic value of stock options exercised | $ | 21 | $ | - | ||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number | Weighted-Average | ||||||||
of shares | Grant Date | |||||||||
Fair Value | ||||||||||
Outstanding at December 31, 2011 | 179,336 | $ 3.07 | ||||||||
Granted | 188,099 | $ 4.48 | ||||||||
Outstanding at December 31, 2012 | 367,435 | $ 3.79 | ||||||||
Forfeited | -29,485 | $ 3.56 | ||||||||
Vested | -13,637 | $ 3.82 | ||||||||
Granted | 28,300 | $ 4.24 | ||||||||
Outstanding at December 31, 2013 | 352,613 | $ 3.85 | ||||||||
Forfeited | -140,448 | $ 3.89 | ||||||||
Vested | -68,608 | $ 3.80 | ||||||||
Granted | 400,691 | $ 3.71 | ||||||||
Outstanding at December 31, 2014 | 544,248 | $ 3.74 |
Employee_Benefits_Plans_Tables
Employee Benefits Plans (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||
Beginning benefit obligation | $ | 6,889 | $ | 7,769 | $ | 1,066 | $ | 1,355 | ||||||||||
Interest cost | 263 | 231 | 34 | 31 | ||||||||||||||
Plan participants’ contributions | 57 | 76 | ||||||||||||||||
Actuarial loss (gain) | 1,012 | -477 | 1 | -285 | ||||||||||||||
Benefits paid | -622 | -634 | -226 | -111 | ||||||||||||||
Ending benefit obligation | $ | 7,542 | $ | 6,889 | $ | 932 | $ | 1,066 | ||||||||||
Change in plan assets: | ||||||||||||||||||
Beginning fair value of plan assets | - | - | - | - | ||||||||||||||
Employer contributions | 622 | 634 | 169 | 35 | ||||||||||||||
Plan participants’ contributions | 57 | 76 | ||||||||||||||||
Benefits paid | -622 | -634 | -226 | -111 | ||||||||||||||
Ending fair value of plan assets | - | - | - | - | ||||||||||||||
Funded status | $ | -7,542 | $ | -6,889 | $ | -932 | $ | -1,066 | ||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Current liabilities | $ | -606 | $ | -606 | $ | -98 | $ | -142 | ||||||||||
Noncurrent liabilities | -6,936 | -6,283 | -834 | -924 | ||||||||||||||
Total | $ | -7,542 | $ | -6,889 | $ | -932 | $ | -1,066 | ||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
2014 | Revised | 2014 | 2013 | |||||||||||||||
2013 (Note 2) | ||||||||||||||||||
Net loss (gain) | $ | 2,934 | $ | 2,006 | $ | -152 | $ | -167 | ||||||||||
Prior service cost (credit) | - | - | -92 | -246 | ||||||||||||||
Total | $ | 2,934 | $ | 2,006 | $ | -244 | $ | -413 | ||||||||||
Schedule of Net Benefit Costs [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
2014 | Revised | Revised | 2014 | 2013 | 2012 | |||||||||||||
2013 (Note 2) | 2012 (Note 2) | |||||||||||||||||
Net periodic benefit cost: | ||||||||||||||||||
Interest cost | $ | 263 | $ | 231 | $ | 292 | $ | 34 | $ | 31 | $ | 49 | ||||||
Amortization of net loss (gain) | 84 | 111 | 69 | -14 | - | 11 | ||||||||||||
Amortization of prior service cost | - | - | - | -154 | -167 | -177 | ||||||||||||
Net periodic benefit cost (income) | $ | 347 | $ | 342 | $ | 361 | $ | -134 | $ | -136 | $ | -117 | ||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | ||||||||||||||||||
Net loss (gain) | $ | 1,012 | $ | -477 | $ | 747 | $ | 1 | $ | -285 | $ | -66 | ||||||
Amortization of net (loss) gain | -84 | -111 | -69 | 14 | - | -11 | ||||||||||||
Amortization of prior service cost | - | - | - | 154 | 167 | 177 | ||||||||||||
Total recognized in other comprehensive income (loss) | $ | 928 | $ | -588 | $ | 678 | $ | 169 | $ | -118 | $ | 100 | ||||||
Total recognized in net periodic benefit cost and other comprehensive income (loss) | $ | 1,275 | $ | -246 | $ | 1,039 | $ | 35 | $ | -254 | $ | -17 | ||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
Net loss (gain) | $ | 129 | $ | -8 | ||||||||||||||
Prior service credit | - | -92 | ||||||||||||||||
Total | $ | 129 | $ | -100 | ||||||||||||||
Schedule of Assumptions Used [Table Text Block] | Pension Plans | Other Benefits | ||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||
Discount rate for funded status | 3.50% | 4.00% | 3.10% | 3.10% | 3.50% | 2.65% | ||||||||||||
Discount rate for benefit cost | 4.00% | 3.10% | 4.15% | 3.50% | 2.65% | 3.70% | ||||||||||||
Health care cost assumed trend rate for next year | 7.00% | 7.50% | 8.00% | |||||||||||||||
Rate that the cost trend rate gradually declines to | 5.50% | 5.50% | 5.50% | |||||||||||||||
Year that the rate reaches the rate it is assumed to remain at | 2018 | 2018 | 2018 | |||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | Pension | Other | ||||||||||||||||
Plans | Benefits | |||||||||||||||||
Estimated net future benefit payments: | ||||||||||||||||||
2015 | $ | 606 | $ | 98 | ||||||||||||||
2016 | 599 | 92 | ||||||||||||||||
2017 | 589 | 90 | ||||||||||||||||
2018 | 575 | 82 | ||||||||||||||||
2019 | 559 | 79 | ||||||||||||||||
2020 - 2024 | 2,530 | 338 | ||||||||||||||||
Estimated contributions for 2015 | $ | 606 | $ | 98 |
Restructuring_and_Related_Char1
Restructuring and Related Charges (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Restructuring and Related Activities [Abstract] | |||||||||
Restructuring and Related Costs [Table Text Block] | 2014 | 2013 | 2012 | ||||||
Lease obligation | $ | 354 | $ | - | $ | 418 | |||
Severance and other termination cost | - | 770 | 17 | ||||||
Other cost | - | - | 39 | ||||||
Total restructuring and related charges | $ | 354 | $ | 770 | $ | 474 | |||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Severance and other termination costs | Lease | Total | ||||||
Obligations | |||||||||
Accrual January 1, 2013 | $ | - | $ | 732 | $ | 732 | |||
Charges (credits) to expense | 743 | - | 743 | ||||||
Cash Payments | -574 | -244 | -818 | ||||||
Accrual December 31, 2013 | 169 | 488 | 657 | ||||||
(Credits) charges to expense | -54 | 354 | 300 | ||||||
Cash payments | -115 | -362 | -477 | ||||||
Accrual December 31, 2014 | $ | - | $ | 480 | $ | 480 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block] | 2014 | 2013 | 2012 | ||||||
Net sales | $ | 19,193 | $ | 38,385 | $ | 37,310 | |||
Cost of sales | 37,805 | 41,428 | 39,333 | ||||||
Selling, general and administrative expenses | 3,392 | 3,669 | 2,696 | ||||||
Loss from discontinued operations before income taxes | -22,004 | -6,712 | -4,719 | ||||||
Income tax (benefit) expense | - | - | - | ||||||
Loss from discontinued operations, net of taxes | $ | -22,004 | $ | -6,712 | $ | -4,719 | |||
Schedule of Disposal Groups, Including Discontinued Operations Balance Sheet [Table Text Block] | December 31, | December 31, | |||||||
2014 | 2013 | ||||||||
Accounts receivable, net | $ | 695 | $ | 6,394 | |||||
Inventory | 678 | 10,026 | |||||||
Property, plant and equipment | - | 18,209 | |||||||
Other assets | - | 1,744 | |||||||
Total assets | 1,373 | 36,373 | |||||||
Accounts payable and other liabilities | 93 | 3,003 | |||||||
Net assets | $ | 1,280 | $ | 33,370 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Commitments and Contingencies Disclosure [Abstract] | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Total | ||
2015 | $ | 1,663 | |
2016 | 1,223 | ||
2017 | 812 | ||
2018 | 875 | ||
2019 | 905 | ||
Thereafter | 1,883 | ||
Total minimum lease payments | $ | 7,361 |
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | 2014 Quarters: | Revised | Revised | Revised | Fourth | |||||||||||
First (Note2) | Second (Note2) | Third (Note2) | ||||||||||||||
Net Sales | $ | 14,642 | $ | 16,033 | $ | 13,928 | $ | 16,020 | ||||||||
Gross profit | 2,938 | 2,725 | 2,624 | 3,726 | ||||||||||||
Net loss from continuing operations | -1,725 | -2,197 | -1 | -1,438 | -2,528 | |||||||||||
Net loss from discontinued operations | -2,901 | -17,303 | -1,118 | -682 | ||||||||||||
Net loss | -4,626 | -19,500 | -1 | -2,556 | -3,210 | |||||||||||
Basic loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.12 | $ | -0.16 | $ | -0.1 | $ | -0.18 | ||||||||
Net loss from discontinued operations | $ | -0.21 | $ | -1.22 | $ | -0.08 | $ | -0.05 | ||||||||
Net loss | $ | -0.33 | $ | -1.38 | $ | -0.18 | $ | -0.23 | ||||||||
Diluted loss per share (3): | ||||||||||||||||
Net loss income from continuing operations | $ | -0.12 | $ | -0.16 | $ | -0.1 | $ | -0.18 | ||||||||
Loss from discontinued operations | $ | -0.21 | $ | -1.22 | $ | -0.08 | $ | -0.05 | ||||||||
Net loss | $ | -0.33 | $ | -1.38 | $ | -0.18 | $ | -0.23 | ||||||||
2013 Quarters: | Revised | Revised | Revised | Revised | ||||||||||||
First (Note 2) | Second (Note 2) | Third (Note 2) | Fourth (Note 2) | |||||||||||||
Net Sales | $ | 16,169 | $ | 14,465 | $ | 14,661 | $ | 13,264 | ||||||||
Gross profit | 4,040 | 2,546 | 3,461 | 2,553 | ||||||||||||
Net loss from continuing operations | -593 | -2 | -2,159 | -2 | -770 | -2 | -2,600 | -2 | ||||||||
Net loss from discontinued operations | -1,501 | -1,370 | -1,700 | -2,141 | ||||||||||||
Net loss | -2,094 | -2 | -3,529 | -2 | -2,470 | -2 | -4,741 | -2 | ||||||||
Basic loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.04 | $ | -0.15 | $ | -0.05 | $ | -0.19 | ||||||||
Net loss from discontinued operations | $ | -0.11 | $ | -0.1 | $ | -0.12 | $ | -0.15 | ||||||||
Net loss | $ | -0.15 | $ | -0.25 | $ | -0.17 | $ | -0.34 | ||||||||
Diluted loss per share (3): | ||||||||||||||||
Net loss from continuing operations | $ | -0.04 | $ | -0.15 | $ | -0.05 | $ | -0.19 | ||||||||
Net loss from discontinued operations | $ | -0.11 | $ | -0.1 | $ | -0.12 | $ | -0.15 | ||||||||
Net loss | $ | -0.15 | $ | -0.25 | $ | -0.17 | $ | -0.34 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Number of Reportable Segments | 1 | |
Capitalized Computer Software, Net (in Dollars) | $2.90 | $3.20 |
Life Insurance Policy, Numbers Held | 27 | |
Cash Surrender Value, Fair Value Disclosure (in Dollars) | 26.2 | |
Borrowings Against Cash Surrender Value [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Secured Debt (in Dollars) | $11.10 | |
Cash Surrender Value Without Borrowings [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Cash Surrender Value, Annual Growth Rate | 4.00% | |
Cash Surrender Value with Borrowings [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Cash Surrender Value, Annual Growth Rate | 12.63% | |
Cash Surrender Value [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 13.13% |
Revision_of_prior_period_finan2
Revision of prior period financial statements and out-of-period adjustments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 |
Revision of prior period financial statements and out-of-period adjustments (Details) [Line Items] | |||
Retained Earnings (Accumulated Deficit) | $26,683,000 | $56,575,000 | $39,431,000 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -2,697,000 | -1,600,000 | -1,528,000 |
Scenario, Previously Reported [Member] | |||
Revision of prior period financial statements and out-of-period adjustments (Details) [Line Items] | |||
Retained Earnings (Accumulated Deficit) | 59,784,000 | 42,037,000 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -158,000 | -182,000 | |
Prepaid Legal Services [Member] | |||
Revision of prior period financial statements and out-of-period adjustments (Details) [Line Items] | |||
Assets, Noncurrent | $2,500,000 |
Revision_of_prior_period_finan3
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Inventory | $24,216,000 | $23,901,000 | $24,216,000 | $23,901,000 | ||||||||
Total assets | 59,707,000 | 95,485,000 | 59,707,000 | 95,485,000 | ||||||||
Accounts payable | 6,425,000 | 7,059,000 | 6,425,000 | 7,059,000 | ||||||||
Total current liabilities | 9,693,000 | 14,710,000 | 9,693,000 | 14,710,000 | ||||||||
Deferred compensation, long-term portion | 4,503,000 | 4,503,000 | ||||||||||
Total liabilities | 18,728,000 | 24,495,000 | 18,728,000 | 24,495,000 | ||||||||
Retained earnings | 26,683,000 | 56,575,000 | 26,683,000 | 56,575,000 | 39,431,000 | |||||||
Accumulated other comprehensive loss | -2,697,000 | -1,600,000 | -2,697,000 | -1,600,000 | -1,528,000 | |||||||
Total stockholdersb equity | 40,979,000 | 70,990,000 | 40,979,000 | 70,990,000 | 82,405,000 | 53,088,000 | ||||||
Net sales | 16,020,000 | 13,928,000 | 16,033,000 | 14,642,000 | 13,264,000 | 14,661,000 | 14,465,000 | 16,169,000 | 60,623,000 | 58,559,000 | 61,260,000 | |
Total expenses | 62,236,000 | 63,026,000 | ||||||||||
Operating loss | -670,000 | -1,458,000 | -1,340,000 | -1,916,000 | -232,000 | -1,558,000 | 29,000 | -2,869,000 | -3,677,000 | -1,766,000 | ||
Net (loss) income from continuing operations | -2,528,000 | -1,438,000 | -2,197,000 | -1,725,000 | -2,600,000 | -770,000 | -2,159,000 | -593,000 | -7,888,000 | -6,122,000 | 34,697,000 | |
Net (loss) from discontinued operations | -682,000 | -1,118,000 | -17,303,000 | -2,901,000 | -2,141,000 | -1,700,000 | -1,370,000 | -1,501,000 | -22,004,000 | -6,712,000 | -4,719,000 | |
Net (loss) income | -3,210,000 | -2,556,000 | -19,500,000 | -4,626,000 | -4,741,000 | -2,470,000 | -3,529,000 | -2,094,000 | -29,892,000 | -12,834,000 | 29,978,000 | |
Actuarial (gain) loss | -762,000 | 681,000 | ||||||||||
Amortization of actuarial loss | -70,000 | -111,000 | -80,000 | |||||||||
Adjustments to net periodic benefit | -706,000 | 778,000 | ||||||||||
Comprehensive (loss) income | -30,989,000 | -12,128,000 | 29,200,000 | |||||||||
Scenario, Previously Reported [Member] | ||||||||||||
Inventory | 23,640,000 | 23,640,000 | ||||||||||
Total assets | 95,224,000 | 95,224,000 | ||||||||||
Accounts payable | 5,989,000 | 5,989,000 | ||||||||||
Total current liabilities | 13,640,000 | 13,640,000 | ||||||||||
Deferred compensation, long-term portion | 661,000 | 661,000 | ||||||||||
Total liabilities | 19,583,000 | 19,583,000 | ||||||||||
Retained earnings | 59,784,000 | 59,784,000 | 42,037,000 | |||||||||
Accumulated other comprehensive loss | -158,000 | -158,000 | -182,000 | |||||||||
Total stockholdersb equity | 75,641,000 | 75,641,000 | ||||||||||
Net sales | 13,928,000 | 24,038,000 | 21,891,000 | 22,744,000 | 14,661,000 | 24,166,000 | 26,052,000 | 58,559,000 | 61,260,000 | |||
Total expenses | 61,991,000 | 62,544,000 | ||||||||||
Operating loss | -378,000 | -18,321,000 | -4,025,000 | -3,860,000 | -232,000 | -2,928,000 | -1,472,000 | -3,432,000 | -1,284,000 | |||
Net (loss) income from continuing operations | -1,146,000 | -770,000 | -5,877,000 | 35,179,000 | ||||||||
Net (loss) from discontinued operations | -1,118,000 | -1,700,000 | -6,760,000 | -4,795,000 | ||||||||
Net (loss) income | -2,264,000 | -19,060,000 | -4,410,000 | -4,544,000 | -2,470,000 | -3,529,000 | -2,094,000 | -12,637,000 | 30,384,000 | |||
Actuarial (gain) loss | -460,000 | 157,000 | ||||||||||
Amortization of actuarial loss | -33,000 | -32,000 | ||||||||||
Adjustments to net periodic benefit | -326,000 | 302,000 | ||||||||||
Comprehensive (loss) income | -12,311,000 | 30,082,000 | ||||||||||
Restatement Adjustment [Member] | ||||||||||||
Inventory | 261,000 | 261,000 | ||||||||||
Total assets | 261,000 | 261,000 | ||||||||||
Accounts payable | 1,070,000 | 1,070,000 | ||||||||||
Total current liabilities | 1,070,000 | 1,070,000 | ||||||||||
Deferred compensation, long-term portion | 3,842,000 | 3,842,000 | ||||||||||
Total liabilities | 4,912,000 | 4,912,000 | ||||||||||
Retained earnings | -3,209,000 | -3,209,000 | ||||||||||
Accumulated other comprehensive loss | -1,442,000 | -1,442,000 | ||||||||||
Total stockholdersb equity | -4,651,000 | -4,651,000 | ||||||||||
Net sales | 13,928,000 | 16,033,000 | 14,642,000 | 13,264,000 | 14,661,000 | 14,465,000 | 16,169,000 | |||||
Total expenses | 245,000 | 482,000 | ||||||||||
Operating loss | -378,000 | -1,018,000 | -1,124,000 | -1,671,000 | -232,000 | -1,558,000 | 29,000 | 245,000 | 482,000 | |||
Net (loss) income from continuing operations | -1,146,000 | -1,757,000 | -1,509,000 | -2,355,000 | -770,000 | -2,159,000 | -593,000 | 245,000 | 482,000 | |||
Net (loss) from discontinued operations | -1,118,000 | -17,303,000 | -2,901,000 | -2,189,000 | -1,700,000 | -1,370,000 | -1,501,000 | -48,000 | -76,000 | |||
Net (loss) income | -2,264,000 | -19,060,000 | -4,410,000 | -4,544,000 | -2,470,000 | -3,529,000 | -2,094,000 | 197,000 | 406,000 | |||
Actuarial (gain) loss | -302,000 | 524,000 | ||||||||||
Amortization of actuarial loss | -78,000 | -48,000 | ||||||||||
Adjustments to net periodic benefit | -380,000 | 476,000 | ||||||||||
Comprehensive (loss) income | ($183,000) | ($882,000) |
Revision_of_prior_period_finan4
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction on consolidated statements of operations and comprehensive (loss) income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction on consolidated statements of operations and comprehensive (loss) income [Line Items] | |||||||||||
Net sales | $16,020 | $13,928 | $16,033 | $14,642 | $13,264 | $14,661 | $14,465 | $16,169 | $60,623 | $58,559 | $61,260 |
Operating (loss) income | -670 | -1,458 | -1,340 | -1,916 | -232 | -1,558 | 29 | -2,869 | -3,677 | -1,766 | |
Net loss from continuing operations | -2,528 | -1,438 | -2,197 | -1,725 | -2,600 | -770 | -2,159 | -593 | -7,888 | -6,122 | 34,697 |
Net loss from discontinued operations | -682 | -1,118 | -17,303 | -2,901 | -2,141 | -1,700 | -1,370 | -1,501 | -22,004 | -6,712 | -4,719 |
Net (loss) income | -3,210 | -2,556 | -19,500 | -4,626 | -4,741 | -2,470 | -3,529 | -2,094 | -29,892 | -12,834 | 29,978 |
Scenario, Previously Reported [Member] | |||||||||||
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction on consolidated statements of operations and comprehensive (loss) income [Line Items] | |||||||||||
Net sales | 13,928 | 24,038 | 21,891 | 22,744 | 14,661 | 24,166 | 26,052 | 58,559 | 61,260 | ||
Operating (loss) income | -378 | -18,321 | -4,025 | -3,860 | -232 | -2,928 | -1,472 | -3,432 | -1,284 | ||
Net loss from continuing operations | -1,146 | -770 | -5,877 | 35,179 | |||||||
Net loss from discontinued operations | -1,118 | -1,700 | -6,760 | -4,795 | |||||||
Net (loss) income | -2,264 | -19,060 | -4,410 | -4,544 | -2,470 | -3,529 | -2,094 | -12,637 | 30,384 | ||
Restatement Adjustment [Member] | |||||||||||
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction on consolidated statements of operations and comprehensive (loss) income [Line Items] | |||||||||||
Net sales | 13,928 | 16,033 | 14,642 | 13,264 | 14,661 | 14,465 | 16,169 | ||||
Operating (loss) income | -378 | -1,018 | -1,124 | -1,671 | -232 | -1,558 | 29 | 245 | 482 | ||
Net loss from continuing operations | -1,146 | -1,757 | -1,509 | -2,355 | -770 | -2,159 | -593 | 245 | 482 | ||
Net loss from discontinued operations | -1,118 | -17,303 | -2,901 | -2,189 | -1,700 | -1,370 | -1,501 | -48 | -76 | ||
Net (loss) income | -2,264 | -19,060 | -4,410 | -4,544 | -2,470 | -3,529 | -2,094 | 197 | 406 | ||
Scenario, Adjustment [Member] | |||||||||||
Revision of prior period financial statements and out-of-period adjustments (Details) - Effect of the error correction on consolidated statements of operations and comprehensive (loss) income [Line Items] | |||||||||||
Net sales | |||||||||||
Operating (loss) income | -292 | -440 | -216 | -245 | |||||||
Net loss from continuing operations | -292 | -440 | -216 | -245 | |||||||
Net loss from discontinued operations | 48 | ||||||||||
Net (loss) income | ($292) | ($440) | ($216) | ($197) |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) - Property, Plant and Equipment (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, at cost | $5,716 | $5,472 |
Less accumulated depreciation | 3,726 | 3,537 |
Property, plant and equipment, net | 1,990 | 1,935 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Depreciable Lives | 5 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Depreciable Lives | 12 years | |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, at cost | 3,883 | 3,883 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Depreciable Lives | 15 years | |
Property, plant and equipment, at cost | $1,833 | $1,589 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Taxes (Details) [Line Items] | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $11,000,000 | |
Deferred Tax Assets, Net of Valuation Allowance | 66,000 | |
Liability for Uncertain Tax Positions, Current | 52,000 | 57,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 201,000 | 228,000 |
Tax Year 2010 [Member] | ||
Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2010 | |
Tax Year 2011 [Member] | ||
Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2011 | |
Tax Year 2012 [Member] | ||
Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2012 | |
Tax Year 2013 [Member] | ||
Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2013 | |
Domestic Tax Authority [Member] | ||
Income Taxes (Details) [Line Items] | ||
Operating Loss Carryforwards | 42,700,000 | |
Operating Loss Carryforwards, Expiration Date Description | begin expiring in 2031. | |
State and Local Jurisdiction [Member] | ||
Income Taxes (Details) [Line Items] | ||
Operating Loss Carryforwards | $28,400,000 | |
Operating Loss Carryforwards, Expiration Date Description | various times beginning in 2026. |
Income_Taxes_Details_The_provi
Income Taxes (Details) - The provision for income tax expense (benefit) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current: | |||
Federal | ($18) | $434 | |
State | -39 | -139 | 211 |
Total current | -39 | -157 | 645 |
Deferred: | |||
Federal | |||
State | |||
Total deferred | |||
Income tax (benefit) expense | ($39) | ($157) | $645 |
Income_Taxes_Details_Reconcili
Income Taxes (Details) - Reconciliation of effective income tax rate | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Reconciliation of effective income tax rate [Abstract] | |||
Federal statutory rate | -35.00% | -35.00% | 35.00% |
State tax, net of federal benefit | -2.40% | -2.90% | 2.00% |
State tax credits and adjustments | 0.10% | 1.00% | 0.50% |
Increase in cash surrender value of life insurance policies | -2.70% | -5.90% | -2.20% |
Valuation allowance increase (decrease) | 39.90% | 43.70% | -33.70% |
Other, net | -2.10% | 0.50% | |
Effective income tax rate | -0.10% | -1.20% | 2.10% |
Income_Taxes_Details_The_incom
Income Taxes (Details) - The income tax effects of temporary differences that comprise deferred tax assets and liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current deferred tax assets: | ||
Accounts receivable | $294 | $268 |
Employee benefits | 444 | 901 |
Other accrued expenses | 331 | 507 |
Gross current deferred tax asset | 1,069 | 1,676 |
Less valuation allowance | -1,003 | -977 |
Net current deferred tax asset | 66 | 699 |
Noncurrent deferred tax assets (liabilities) | ||
Property, plant and equipment | -1,187 | -6,306 |
Employee benefits | 5,205 | 4,774 |
Other noncurrent assets | 94 | 109 |
Contribution carryforward | 279 | |
AMT credit | 631 | 631 |
Net operating loss | 15,633 | 9,844 |
Gross non-current deferred tax assets (liabilities) | 20,655 | 9,052 |
Less valuation allowance | -20,721 | -9,751 |
Net noncurrent deferred tax assets (liabilities) | ($66) | ($699) |
Income_Taxes_Details_The_unrec
Income Taxes (Details) - The unrecognized tax benefits activity (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
The unrecognized tax benefits activity [Abstract] | ||
Unrecognized tax benefits balance at January 1 | $351 | $678 |
Lapse of statute of limitations | -42 | -98 |
Gross decreases for tax positions of prior years | -229 | |
Unrecognized tax benefits balance at December 31 | $309 | $351 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Jul. 31, 2012 | |
Stockholders' Equity (Details) [Line Items] | ||||
Stock Repurchase Program, Authorized Amount (in Dollars) | $5,000,000 | |||
Stock Repurchased During Period, Value (in Dollars) | $358,000 | $661,000 | ||
Stock Repurchased During Period, Shares | 80,077 | 146,015 | ||
Equity Option [Member] | ||||
Stockholders' Equity (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,900,000 | 738,000 | 1,400,000 | |
Restricted Stock [Member] | ||||
Stockholders' Equity (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 353,000 | 544,000 | ||
Preferred Stock [Member] | ||||
Stockholders' Equity (Details) [Line Items] | ||||
Excess Stock, Shares Authorized | 1,000,000 |
Stockholders_Equity_Details_Ba
Stockholders' Equity (Details) - Basic and Diluted Earnings Per Share Calculation | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Basic and Diluted Earnings Per Share Calculation [Abstract] | |||
Weighted average shares outstanding for basic calculation | 14,197 | 14,147 | 14,328 |
Dilutive effect of stock options | 156 | ||
Weighted average shares outstanding for diluted calculation | 14,197 | 14,147 | 14,484 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee [Member] | Employee Stock Option [Member] | Minimum [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Employee [Member] | Employee Stock Option [Member] | Maximum [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Director [Member] | Employee Stock Option [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Employee Stock Option [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | 216,757 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 255 days | ||
Restricted Stock [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | 986,129 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares) | 68,608 | 13,637 | |
Incentive Compensation Plan [Member] | |||
Stock Based Compensation (Details) [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,600,000 |
Stock_Based_Compensation_Detai1
Stock Based Compensation (Details) - Weighted average for key assumptions used in determining the fair value | 12 Months Ended |
Dec. 31, 2012 | |
Weighted average for key assumptions used in determining the fair value [Abstract] | |
Expected price volatility | 53.25% |
Risk-free interest rate | 0.91% |
Weighted average expected life in years | 5 years 6 months |
Forfeiture rate | 21.87% |
Stock_Based_Compensation_Detai2
Stock Based Compensation (Details) - Stock option activity (Employee Stock Option [Member], USD $) | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Stock Option [Member] | ||||
Stock Based Compensation (Details) - Stock option activity [Line Items] | ||||
Outstanding at December 31, 2011 | 1,814,956 | 1,944,108 | 2,089,970 | |
Outstanding at December 31, 2011 | $6.39 | $6.06 | $5.99 | |
Outstanding at December 31, 2011 | 7 years 36 days | 5 years 255 days | 6 years 255 days | 6 years 146 days |
Options Expired, Number of shares | -106,968 | -28,000 | -22,000 | |
Options Expired, Weighted-Average Exercise Price | $12.88 | $11.75 | $17.62 | |
Granted | 297,014 | |||
Granted | $4.43 | |||
Options outstanding, Number of shares | 1,371,354 | 1,944,108 | 2,089,970 | |
Options outstanding, Weighted-Average Exercise Price | $5.97 | $6.06 | $5.99 | |
Options outstanding, Weighted-Average Remaining Contractual Term | 7 years 36 days | 5 years 255 days | 6 years 255 days | 6 years 146 days |
Options outstanding, Aggregate Intrinsic Value | ||||
Exercisable at December 31, 2014 | 1,212,336 | |||
Exercisable at December 31, 2014 | $6.24 | |||
Exercisable at December 31, 2014 | 5 years 146 days | |||
Exercisable at December 31, 2014 | ||||
Exercised | -35,246 | |||
Exercised | $3.16 | |||
Options Forfeited, Number of shares | -465,786 | -82,616 | ||
Options Forfeited, Weighted-Average Exercise Price | $4.76 | $3.70 |
Stock_Based_Compensation_Detai3
Stock Based Compensation (Details) - Average fair market value of options granted, cash proceeds, tax benefits and intrinsic value (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Average fair market value of options granted, cash proceeds, tax benefits and intrinsic value [Abstract] | |||
Average fair market value of options granted (per share) (in Dollars per share) | $2.12 | ||
Proceeds from stock options exercised | $112 | ||
Intrinsic value of stock options exercised | $21 |
Stock_Based_Compensation_Detai4
Stock Based Compensation (Details) - Information about non-vested share awards (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Based Compensation (Details) - Information about non-vested share awards [Line Items] | |||
Options Granted, Weighted-Average Grant Date Fair Value | $2.12 | ||
Restricted Stock [Member] | |||
Stock Based Compensation (Details) - Information about non-vested share awards [Line Items] | |||
Outstanding at December 31, 2011 | 352,613 | 367,435 | 179,336 |
Outstanding at December 31, 2011 | $3.85 | $3.79 | $3.07 |
Options Granted, Number of shares | 400,691 | 28,300 | 188,099 |
Options Granted, Weighted-Average Grant Date Fair Value | $3.71 | $4.24 | $4.48 |
Options Outstanding | 544,248 | 352,613 | 367,435 |
Options Outstanding, Weighted-Average Grand date Fair Value | $3.74 | $3.85 | $3.79 |
Options Forfeited, Number of shares | -140,448 | -29,485 | |
Options Forfeited, Weighted-Average Grant Date Fair Value | $3.89 | $3.56 | |
Options Vested, Number of shares | -68,608 | -13,637 | |
Options Vested, Weighted-Average Grant Date Fair Value | $3.80 | $3.82 |
Employee_Benefits_Plans_Detail
Employee Benefits Plans (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Benefits Plans (Details) [Line Items] | ||||
Defined Contribution Plan, Cost Recognized | $273,000 | $488,000 | $317,000 | |
Life Insurance Benefits, Age of Eligible Retired Employees | 55 | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 310 | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 10 | |||
Payments to Fund Policy Loans | 15,000,000 | |||
Policy Loan Interest, Amount | 2,900,000 | 2,700,000 | 2,400,000 | |
Borrowings Against Cash Surrender Value [Member] | ||||
Employee Benefits Plans (Details) [Line Items] | ||||
Debt Instrument, Face Amount | $11,000,000 | $11,000,000 | $22,000,000 | |
Minimum [Member] | ||||
Employee Benefits Plans (Details) [Line Items] | ||||
Health Care Benefits, Age of Eligible Retired Employees | 55 | |||
Maximum [Member] | ||||
Employee Benefits Plans (Details) [Line Items] | ||||
Health Care Benefits, Age of Eligible Retired Employees | 65 |
Employee_Benefits_Plans_Detail1
Employee Benefits Plans (Details) - Funded status (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Change in benefit obligation: | |||
Actuarial loss (gain) | $1,013 | ($762) | $681 |
Pension Plan [Member] | |||
Change in benefit obligation: | |||
Beginning benefit obligation | 6,889 | 7,769 | |
Interest cost | 263 | 231 | 292 |
Beginning fair value of plan assets | |||
Employer contributions | 622 | 634 | |
Actuarial loss (gain) | 1,012 | -477 | |
Benefits paid | -622 | -634 | |
Ending fair value of plan assets | |||
Funded status | -7,542 | -6,889 | |
Ending benefit obligation | 7,542 | 6,889 | 7,769 |
Other Postretirement Benefit Plan [Member] | |||
Change in benefit obligation: | |||
Beginning benefit obligation | 1,066 | 1,355 | |
Interest cost | 34 | 31 | 49 |
Beginning fair value of plan assets | |||
Employer contributions | 169 | 35 | |
Plan participantsb contributions | 57 | 76 | |
Actuarial loss (gain) | 1 | -285 | |
Benefits paid | -226 | -111 | |
Ending fair value of plan assets | |||
Funded status | -932 | -1,066 | |
Ending benefit obligation | $932 | $1,066 | $1,355 |
Employee_Benefits_Plans_Detail2
Employee Benefits Plans (Details) - Amount recognized in the consolidated balance sheet (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Employee Benefits Plans (Details) - Amount recognized in the consolidated balance sheet [Line Items] | ||
Noncurrent liabilities | ($6,936) | ($6,283) |
Pension Plan [Member] | ||
Employee Benefits Plans (Details) - Amount recognized in the consolidated balance sheet [Line Items] | ||
Current liabilities | -606 | -606 |
Noncurrent liabilities | -6,936 | -6,283 |
Total | -7,542 | -6,889 |
Other Postretirement Benefit Plan [Member] | ||
Employee Benefits Plans (Details) - Amount recognized in the consolidated balance sheet [Line Items] | ||
Current liabilities | -98 | -142 |
Noncurrent liabilities | -834 | -924 |
Total | ($932) | ($1,066) |
Employee_Benefits_Plans_Detail3
Employee Benefits Plans (Details) - Amount recognized in accumulated other comprehensive income (loss) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Pension Plan [Member] | ||
Employee Benefits Plans (Details) - Amount recognized in accumulated other comprehensive income (loss) [Line Items] | ||
Net loss (gain) | $2,934 | $2,006 |
Prior service cost (credit) | ||
Total | 2,934 | 2,006 |
Other Postretirement Benefit Plan [Member] | ||
Employee Benefits Plans (Details) - Amount recognized in accumulated other comprehensive income (loss) [Line Items] | ||
Net loss (gain) | -152 | -167 |
Prior service cost (credit) | -92 | -246 |
Total | ($244) | ($413) |
Employee_Benefits_Plans_Detail4
Employee Benefits Plans (Details) - Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net periodic benefit cost: | |||
Amortization of net loss (gain) | ($762) | $681 | |
Pension Plan [Member] | |||
Net periodic benefit cost: | |||
Interest cost | 263 | 231 | 292 |
Amortization of net loss (gain) | 84 | 111 | 69 |
Amortization of prior service cost | |||
Net periodic benefit cost (income) | 347 | 342 | 361 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | |||
Net loss (gain) | 1,012 | -477 | 747 |
Amortization of net (loss) gain | -84 | -111 | -69 |
Amortization of prior service cost | |||
Total recognized in other comprehensive income (loss) | 928 | -588 | 678 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 1,275 | -246 | 1,039 |
Other Postretirement Benefit Plan [Member] | |||
Net periodic benefit cost: | |||
Interest cost | 34 | 31 | 49 |
Amortization of net loss (gain) | -14 | 11 | |
Amortization of prior service cost | -154 | -167 | -177 |
Net periodic benefit cost (income) | -134 | -136 | -117 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | |||
Net loss (gain) | 1 | -285 | -66 |
Amortization of net (loss) gain | 14 | -11 | |
Amortization of prior service cost | 154 | 167 | 177 |
Total recognized in other comprehensive income (loss) | 169 | -118 | 100 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | $35 | ($254) | ($17) |
Employee_Benefits_Plans_Detail5
Employee Benefits Plans (Details) - Accumulated other comprehensive incomes that are expected to be recognized (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Pension Plan [Member] | |
Employee Benefits Plans (Details) - Accumulated other comprehensive incomes that are expected to be recognized [Line Items] | |
Net loss (gain) | $129 |
Prior service credit | |
Total | 129 |
Other Postretirement Benefit Plan [Member] | |
Employee Benefits Plans (Details) - Accumulated other comprehensive incomes that are expected to be recognized [Line Items] | |
Net loss (gain) | -8 |
Prior service credit | -92 |
Total | ($100) |
Employee_Benefits_Plans_Detail6
Employee Benefits Plans (Details) - The assumptions used to determine the planbs financial status and postretirement benefit cost: | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plan [Member] | |||
Employee Benefits Plans (Details) - The assumptions used to determine the planbs financial status and postretirement benefit cost: [Line Items] | |||
Discount rate for funded status | 3.50% | 4.00% | 3.10% |
Discount rate for benefit cost | 4.00% | 3.10% | 4.15% |
Other Postretirement Benefit Plan [Member] | |||
Employee Benefits Plans (Details) - The assumptions used to determine the planbs financial status and postretirement benefit cost: [Line Items] | |||
Discount rate for funded status | 3.10% | 3.50% | 2.65% |
Discount rate for benefit cost | 3.50% | 2.65% | 3.70% |
Health care cost assumed trend rate for next year | 7.00% | 7.50% | 8.00% |
Rate that the cost trend rate gradually declines to | 5.50% | 5.50% | 5.50% |
Year that the rate reaches the rate it is assumed to remain at | 2018 | 2018 | 2018 |
Employee_Benefits_Plans_Detail7
Employee Benefits Plans (Details) - Estimated future benefit payments (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Pension Plan [Member] | |
Estimated net future benefit payments: | |
2015 | $606 |
2016 | 599 |
2017 | 589 |
2018 | 575 |
2019 | 559 |
2020 - 2024 | 2,530 |
Estimated contributions for 2015 | 606 |
Other Postretirement Benefit Plan [Member] | |
Estimated net future benefit payments: | |
2015 | 98 |
2016 | 92 |
2017 | 90 |
2018 | 82 |
2019 | 79 |
2020 - 2024 | 338 |
Estimated contributions for 2015 | $98 |
Restructuring_and_Related_Char2
Restructuring and Related Charges (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
Jun. 28, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Restructuring and Related Charges (Details) [Line Items] | ||||||||
Business Exit Costs | $354,000 | $354,000 | $418,000 | |||||
Restructuring Charges | 238,000 | 10,000 | 262,000 | 260,000 | 300,000 | 743,000 | ||
Selling, General and Administrative Expenses [Member] | Severance And Relocation Cost [Member] | ||||||||
Restructuring and Related Charges (Details) [Line Items] | ||||||||
Restructuring Charges | 770,000 | |||||||
Lease Obligations [Member] | ||||||||
Restructuring and Related Charges (Details) [Line Items] | ||||||||
Business Exit Costs | 418,000 | |||||||
Restructuring Charges | 354,000 | |||||||
Severance And Relocation Cost [Member] | ||||||||
Restructuring and Related Charges (Details) [Line Items] | ||||||||
Business Exit Costs | $354,000 |
Restructuring_and_Related_Char3
Restructuring and Related Charges (Details) - Restructuring and related expenses (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 28, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Restructuring and related expenses [Abstract] | ||||
Lease obligation | $354,000 | $354,000 | $418,000 | |
Severance and other termination cost | 770,000 | 17,000 | ||
Other cost | 39,000 | |||
Total restructuring and related charges | $354,000 | $770,000 | $474,000 |
Restructuring_and_Related_Char4
Restructuring and Related Charges (Details) - Restructuring accrual activity (USD $) | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||||||
Accrual January 1, 2013 | $732,000 | $657,000 | $732,000 | |||
Charges (credits) to expense | 238,000 | 10,000 | 262,000 | 260,000 | 300,000 | 743,000 |
Cash Payments | -477,000 | -818,000 | ||||
Accrual | 657,000 | 480,000 | 657,000 | |||
Severance And Other Termination Costs [Member] | ||||||
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||||||
Accrual January 1, 2013 | 169,000 | |||||
Charges (credits) to expense | -54,000 | 743,000 | ||||
Cash Payments | -115,000 | -574,000 | ||||
Accrual | 169,000 | 169,000 | ||||
Lease Obligations [Member] | ||||||
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||||||
Accrual January 1, 2013 | 732,000 | 488,000 | 732,000 | |||
Charges (credits) to expense | 354,000 | |||||
Cash Payments | -362,000 | -244,000 | ||||
Accrual | $488,000 | $480,000 | $488,000 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Discontinued Operations and Disposal Groups [Abstract] | |
Proceeds from Sale of Property, Plant, and Equipment | $5.50 |
Discontinued_Operations_Detail1
Discontinued Operations (Details) - Loss from discontinued operations, net of taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Loss from discontinued operations, net of taxes [Abstract] | |||||||||||
Net sales | $19,193 | $38,385 | $37,310 | ||||||||
Cost of sales | 37,805 | 41,428 | 39,333 | ||||||||
Selling, general and administrative expenses | 3,392 | 3,669 | 2,696 | ||||||||
Loss from discontinued operations before income taxes | -22,004 | -6,712 | -4,719 | ||||||||
Income tax (benefit) expense | |||||||||||
Loss from discontinued operations, net of taxes | ($682) | ($1,118) | ($17,303) | ($2,901) | ($2,141) | ($1,700) | ($1,370) | ($1,501) | ($22,004) | ($6,712) | ($4,719) |
Discontinued_Operations_Detail2
Discontinued Operations (Details) - Net assets for discontinued operations (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Net assets for discontinued operations [Abstract] | ||
Accounts receivable, net | $695 | $6,394 |
Inventory | 678 | 10,026 |
Property, plant and equipment | 18,209 | |
Other assets | 1,744 | |
Total assets | 1,373 | 36,373 |
Accounts payable and other liabilities | 93 | 3,003 |
Net assets | $1,280 | $33,370 |
Income_for_Continued_Dumping_a1
Income for Continued Dumping and Subsidy Offset Act (CDSOA) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income For Continued Dumping And Subsidy Offset Act [Abstract] | |||
Income from Continued Dumping and Subsidy Offset Act Net | $39,349 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies (Details) [Line Items] | |||
Operating Leases, Rent Expense | $2.70 | $2.70 | $2.40 |
Letter of Credit [Member] | |||
Commitments and Contingencies (Details) [Line Items] | |||
Letters of Credit Outstanding, Amount | $1.20 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details) - Future minimum lease payments for our current capital and operating leases (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Future minimum lease payments for our current capital and operating leases [Abstract] | |
2015 | $1,663 |
2016 | 1,223 |
2017 | 812 |
2018 | 875 |
2019 | 905 |
Thereafter | 1,883 |
Total minimum lease payments | $7,361 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
Jun. 28, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Quarterly Financial Information Disclosure [Abstract] | ||||||||
Business Exit Costs | $354,000 | $354,000 | $418,000 | |||||
Restructuring Charges | $238,000 | $10,000 | $262,000 | $260,000 | $300,000 | $743,000 |
Quarterly_Results_of_Operation3
Quarterly Results of Operations (Unaudited) (Details) - Quarterly Results of Operation (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Results of Operation [Abstract] | |||||||||||
Net Sales | $16,020 | $13,928 | $16,033 | $14,642 | $13,264 | $14,661 | $14,465 | $16,169 | $60,623 | $58,559 | $61,260 |
Gross profit | 3,726 | 2,624 | 2,725 | 2,938 | 2,553 | 3,461 | 2,546 | 4,040 | 12,013 | 12,600 | 13,786 |
Net loss from continuing operations | -2,528 | -1,438 | -2,197 | -1,725 | -2,600 | -770 | -2,159 | -593 | -7,888 | -6,122 | 34,697 |
Net loss from discontinued operations | -682 | -1,118 | -17,303 | -2,901 | -2,141 | -1,700 | -1,370 | -1,501 | -22,004 | -6,712 | -4,719 |
Net loss | ($3,210) | ($2,556) | ($19,500) | ($4,626) | ($4,741) | ($2,470) | ($3,529) | ($2,094) | ($29,892) | ($12,834) | $29,978 |
Basic loss per share (3): | |||||||||||
Net loss from continuing operations (in Dollars per share) | ($0.18) | ($0.10) | ($0.16) | ($0.12) | ($0.19) | ($0.05) | ($0.15) | ($0.04) | ($0.56) | ($0.43) | $2.42 |
Net loss from discontinued operations (in Dollars per share) | ($0.05) | ($0.08) | ($1.22) | ($0.21) | ($0.15) | ($0.12) | ($0.10) | ($0.11) | ($1.55) | ($0.48) | ($0.33) |
Net loss (in Dollars per share) | ($0.23) | ($0.18) | ($1.38) | ($0.33) | ($0.34) | ($0.17) | ($0.25) | ($0.15) | ($2.11) | ($0.91) | $2.09 |
Diluted loss per share (3): | |||||||||||
Net loss income from continuing operations (in Dollars per share) | ($0.18) | ($0.10) | ($0.16) | ($0.12) | ($0.19) | ($0.05) | ($0.15) | ($0.04) | ($0.56) | ($0.43) | $2.40 |
Loss from discontinued operations (in Dollars per share) | ($0.05) | ($0.08) | ($1.22) | ($0.21) | ($0.15) | ($0.12) | ($0.10) | ($0.11) | ($1.55) | ($0.48) | ($0.33) |
Net loss (in Dollars per share) | ($0.23) | ($0.18) | ($1.38) | ($0.33) | ($0.34) | ($0.17) | ($0.25) | ($0.15) | ($2.11) | ($0.91) | $2.07 |
SCHEDULE_II_VALUATION_AND_QUAL1
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Doubtful Accounts [Member] | |||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES [Line Items] | |||
Balance at Beginning of Period | $112 | $120 | $210 |
Charged (Credited) to Costs and Expenses | 171 | 29 | -49 |
Deductions | 94 | 37 | 41 |
Balance at End of Period | 189 | 112 | 120 |
Discount Returns and Allowance [Member] | |||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES [Line Items] | |||
Balance at Beginning of Period | 158 | 196 | |
Charged (Credited) to Costs and Expenses | 28 | -38 | |
Balance at End of Period | 186 | 158 | |
Doubtful Receivables Discounts Returns and Allowances [Member] | |||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES [Line Items] | |||
Balance at Beginning of Period | 270 | 278 | 406 |
Charged (Credited) to Costs and Expenses | 199 | 29 | -87 |
Deductions | 94 | 37 | 41 |
Balance at End of Period | 375 | 270 | 278 |
Valuation Allowance of Deferred Tax Assets [Member] | |||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES [Line Items] | |||
Balance at Beginning of Period | 10,727 | 5,203 | 15,336 |
Charged (Credited) to Costs and Expenses | 10,997 | 5,524 | -10,133 |
Balance at End of Period | $21,724 | $10,727 | $5,203 |