Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 26, 2015 | Oct. 23, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | STANLEY FURNITURE CO INC. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 14,911,453 | |
Amendment Flag | false | |
Entity Central Index Key | 797,465 | |
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 | Sep. 26, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
CONSOLIDATED BALANCE SHEEETS
CONSOLIDATED BALANCE SHEEETS - USD ($) $ in Thousands | Sep. 26, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash | $ 5,577 | $ 5,584 |
Restricted cash | 663 | 1,190 |
Accounts receivable, less allowances of $464 and $375 | 6,741 | 5,853 |
Inventories: | ||
Finished goods | 20,989 | 23,935 |
Work-in-process | 19 | 268 |
Raw materials | 13 | |
Total inventories | 21,008 | 24,216 |
Assets of discontinued operations | 1,373 | |
Prepaid expenses and other current assets | 827 | 890 |
Deferred income taxes | 38 | 66 |
Total current assets | 34,854 | 39,172 |
Property, plant and equipment, net | 1,851 | 1,990 |
Cash surrender value of life insurance policies, net | 20,725 | 15,129 |
Other assets | 3,218 | 3,416 |
Total assets | 60,648 | 59,707 |
Current liabilities: | ||
Accounts payable | 3,904 | 6,425 |
Liabilities of discontinued operations | 16 | 93 |
Accrued salaries, wages and benefits | 1,569 | 1,738 |
Other accrued expenses | 413 | 1,437 |
Total current liabilities | 5,902 | 9,693 |
Deferred income taxes | 38 | 66 |
Pension plans | 6,504 | 6,936 |
Other long-term liabilities | 2,245 | 2,033 |
Total liabilities | 14,689 | 18,728 |
STOCKHOLDERS’ EQUITY | ||
Common stock, $.02 par value, 25,000,000 shares authorized, 14,911,453 and 14,780,326 shares issued and outstanding | 283 | 283 |
Capital in excess of par value | 17,249 | 16,710 |
Retained earnings | 31,106 | 26,683 |
Accumulated other comprehensive loss | (2,679) | (2,697) |
Total stockholders’ equity | 45,959 | 40,979 |
Total liabilities and stockholders’ equity | $ 60,648 | $ 59,707 |
CONSOLIDATED BALANCE SHEEETS (P
CONSOLIDATED BALANCE SHEEETS (Parentheticals) - USD ($) $ in Thousands | Sep. 26, 2015 | Dec. 31, 2014 |
Allowances (in Dollars) | $ 464 | $ 375 |
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 | 14,911,453 | 14,780,326 |
Common stock, shares outstanding | 14,911,453 | 14,780,326 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Net sales | $ 13,760 | $ 13,928 | $ 43,565 | $ 44,603 |
Cost of sales | 10,350 | 11,304 | 33,333 | 36,316 |
Gross profit | 3,410 | 2,624 | 10,232 | 8,287 |
Selling, general, and administrative expenses | 2,823 | 3,294 | 9,921 | 11,755 |
Operating income (loss) | $ 587 | $ (670) | 311 | $ (3,468) |
Income from Continued Dumping and Subsidy Offset Act, net | 4,896 | |||
Other income, net | $ 12 | $ 24 | 52 | $ 336 |
Interest expense, net | 216 | 802 | 756 | 2,259 |
Income (loss) from continuing operations before taxes | 383 | (1,448) | 4,503 | (5,391) |
Income tax (benefit) expense | (8) | (10) | 71 | (31) |
Net income (loss) from continuing operations | 391 | (1,438) | 4,432 | (5,360) |
Net income (loss) from discontinued operations | 74 | (1,118) | (9) | (21,322) |
Net income (loss) | $ 465 | $ (2,556) | $ 4,423 | $ (26,682) |
Basic income (loss) per share: | ||||
Income (loss) from continuing operations (in Dollars per share) | $ 0.03 | $ (0.10) | $ 0.31 | $ (0.38) |
Income (loss) from discontinued operations (in Dollars per share) | (0.08) | (1.50) | ||
Net income (loss) (in Dollars per share) | $ 0.03 | (0.18) | $ 0.31 | (1.88) |
Diluted income (loss) per share: | ||||
Income (loss) from continuing operations (in Dollars per share) | $ 0.03 | (0.10) | $ 0.30 | (0.38) |
Income (loss) from discontinued operations (in Dollars per share) | (0.08) | (1.50) | ||
Net income (loss) (in Dollars per share) | $ 0.03 | $ (0.18) | $ 0.30 | $ (1.88) |
Weighted average shares outstanding: | ||||
Basic (in Shares) | 14,285 | 14,209 | 14,260 | 14,185 |
Diluted (in Shares) | 14,548 | 14,209 | 14,531 | 14,185 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Net income (loss) | $ 465 | $ (2,556) | $ 4,423 | $ (26,682) |
Other comprehensive income (loss): | ||||
Amortization of prior service cost | 23 | 38 | 69 | 115 |
Amortization of actuarial loss | (29) | (18) | (87) | (56) |
Adjustments to net periodic benefit cost | (6) | 20 | (18) | 59 |
Comprehensive income (loss) | $ 471 | $ (2,576) | $ 4,441 | $ (26,741) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 26, 2015 | Sep. 27, 2014 | |
Cash flows from operating activities: | ||
Cash received from customers | $ 42,426 | $ 43,868 |
Cash paid to suppliers and employees | (44,091) | (50,576) |
Cash from Continued Dumping and Subsidy Offset Act | 4,896 | |
Interest paid, net | (670) | (2,884) |
Income taxes paid | (103) | |
Net cash provided (used) by operating activities | 2,458 | (9,592) |
Cash flows from investing activities: | ||
Decrease in restricted cash | 527 | 547 |
Sale of short-term securities | 10,000 | |
Purchase of other assets | (44) | |
Net cash provided by investing activities | 527 | 10,503 |
Cash flows from financing activities: | ||
Payments on insurance policy loans | (4,279) | |
Proceeds from insurance policy loans | 2,701 | |
Net cash (used) provided by financing activities | (4,279) | 2,701 |
Cash flows from discontinued operations: | ||
Cash provided by operating activities | 1,287 | 4,271 |
Cash provided by investing activities | 3,479 | |
Net cash provided by discontinued operations | 1,287 | 7,750 |
Net (decrease) increase in cash | (7) | 11,362 |
Cash at beginning of period | 5,584 | 7,218 |
Cash at end of period | 5,577 | 18,580 |
Reconciliation of net income (loss) to net cash provided (used) by operating activities: | ||
Net income (loss) | 4,423 | (26,682) |
Loss from discontinued operations | 9 | 21,322 |
Depreciation and amortization | 352 | 408 |
Stock-based compensation | 539 | 634 |
Changes in assets and liabilities: | ||
Accounts receivable | (888) | (580) |
Inventories | 3,208 | 922 |
Prepaid expenses and other assets | (1,253) | (3,076) |
Accounts payable | (2,521) | (2,413) |
Accrued salaries, wages and benefits | (161) | 455 |
Other accrued expenses | (1,030) | 284 |
Other long-term liabilities | (220) | (866) |
Net cash provided (used) by operating activities | $ 2,458 | $ (9,592) |
Preparation of Interim Unaudite
Preparation of Interim Unaudited Consolidated Financial Statements | 9 Months Ended |
Sep. 26, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Preparation of Interim Unaudited Consolidated Financial Statements The consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission ( “ ” Results of the discontinued operations are excluded from the accompanying notes to the consolidated financial statements for all periods presented, unless otherwise noted. |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Sep. 26, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Plant and Equipment September 26, December 31, 2015 2014 Machinery and equipment $ 3,847 $ 3,883 Leasehold improvements 1,833 1,833 Property, plant and equipment, at cost 5,680 5,716 Less accumulated depreciation 3,829 3,726 Property, plant and equipment, net $ 1,851 $ 1,990 |
Income taxes
Income taxes | 9 Months Ended |
Sep. 26, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income taxes During the first nine months of 2015, we utilized $2,979 of our net operating loss carry-forwards against income from the Continued Dumping and Subsidy Offset Act distributed by U.S. Customs and Border Protection in March and April of this year (see Note 7). The income tax expense recognized during the current nine month period was primarily generated from the federal alternative minimum tax. The alternative minimum tax limits our ability to offset income generated during the period with net operating loss carry-forwards. During the first nine months of 2015, we reduced our valuation allowance against deferred tax assets from $21,724 to $20,579 at September 26, 2015. We maintain a valuation allowance against deferred tax assets that currently exceed our deferred tax liabilities. The primary assets covered by this valuation allowance are net operating loss carry-forwards. The valuation allowance was calculated in accordance with the provisions of ASC 740, Income Taxes Income Taxes Our effective tax rates for the current three and nine month periods were a benefit of 1.8% and an expense of 1.6%, respectively, driven by the impact of the alternative minimum tax outlined above. The effective tax rate in the prior year three and nine month periods was essentially zero since we had established a valuation allowance for our deferred tax assets in excess of our deferred tax liabilities. The major reconciling items between our effective income tax rate and the federal statutory rate are the change in our valuation allowance and the cash surrender value on life insurance policies. |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 26, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Employee Benefit Plans Components of other postretirement benefit cost: Three Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Interest cost $ 70 $ 75 $ 210 $ 224 Amortization of prior service benefit (23) (38) (69) (115) Amortization of actuarial loss 29 18 87 56 Net periodic postretirement benefit cost $ 76 $ 55 $ 228 $ 165 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 26, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders ’ Basic earnings per common share are based upon the weighted average shares outstanding. Outstanding stock options and restricted stock are treated as potential common stock for purposes of computing diluted earnings per share. Basic and diluted earnings per share are calculated using the following share data: Three Months Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Weighted average shares outstanding for basic calculation 14,285 14,209 14,260 14,185 Add: Effect of dilutive stock awards 263 - 271 - Weighted average shares outstanding, adjusted for diluted calculation 14,548 14,209 14,531 14,185 In the three and nine month periods ended September 26, 2015, approximately 1,352 and 1,376 stock awards respectively, were excluded from the diluted per share calculation as they would be anti-dilutive. In the 2014 three and nine month periods, the dilutive effect of stock options is not recognized since we had a net loss. Approximately 1,639 shares in the three and nine month periods of 2014 were issuable upon the exercise of stock options, which were not included in the diluted per share calculation because they were anti-dilutive. Also, 544 shares in 2014 of restricted stock were not included because they were anti-dilutive. A reconciliation of the activity in Stockholders ’ Accumulated Capital in Other Common Excess of Retained Comprehensive Stock Par Value Earnings Loss Balance at December 31, 2014 $ 283 $ 16,710 $ 26,683 $ (2,697) Net income - - 4,423 - Stock-based compensation - 539 - - Adjustment to net periodic benefit cost - - - 18 Balance at September 26, 2015 $ 283 $ 17,249 $ 31,106 $ (2,679) |
Restructuring and Related Charg
Restructuring and Related Charges | 9 Months Ended |
Sep. 26, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | Restructuring and Related Charges During 2014, we completed the exit of our Stanleytown warehouse facility and took a charge for the remaining payments on the lease, which expires in December 2015. During 2013, we recorded restructuring charges in selling, general and administrative expenses for severance and relocation costs associated with the consolidation of our corporate office and High Point showroom into a single multi-purpose facility. All of these expenses were paid out in 2014. Restructuring accrual activity for the nine months ended September 26, 2015 was as follows: Lease Obligations Accrual at January 1, 2015 $ 480 Charges to expense - Cash payments (360) Accrual at September 26, 2015 $ 120 Restructuring accrual activity for the nine months ended September 27, 2014 was as follows: Lease Severance Total Accrual at January 1, 2014 $ 488 $ 169 $ 657 Charges to expense 354 (39) 315 Cash payments (242) (116) (358) Accrual at September 27, 2014 $ 600 $ 14 $ 614 The restructuring accrual is classified as “ ” |
Income from Continued Dumping a
Income from Continued Dumping and Subsidy Offset Act (CDSOA) | 9 Months Ended |
Sep. 26, 2015 | |
Income For Continued Dumping And Subsidy Offset Act [Abstract] | |
Income For Continued Dumping And Subsidy Offset Act [Text Block] | Income from Continued Dumping and Subsidy Offset Act (CDSOA) We recorded income of $4,896 in the nine month period ended September 26, 2015, respectively, from CDSOA distributions previously withheld by Customs pending resolution of non-supporting producers ’ |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 26, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 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 Income (loss) from discontinued operations, net of taxes, is comprised of the following: Three Months Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Net sales $ 16 $ 3,510 $ 554 $ 19,263 Cost of sales 41 4,295 760 36,748 Selling, general and administrative expenses, net (36) 333 (134) 3,837 Other income 63 - 63 - Income (loss) from discontinued operations before income taxes 74 (1,118) (9) (21,322) Income taxes - - - - Income (loss) from discontinued operations, net of income taxes $ 74 $ (1,118) $ (9) $ (21,322) In the current year three month period, income from discontinued operations resulted from better realization on assets than originally estimated. In the current nine month period, the loss from discontinued operations is from cost related to the final disposition of inventory. In the prior year, losses from discontinued operations included accelerated depreciation and amortization, write-down of inventories and other assets, severance and other termination costs and operating losses related to final manufacturing production. Net assets for discontinued operations are as follows: September 26, December 31, 2015 2014 Accounts receivable, net $ - $ 695 Inventory, net - 678 Total assets - 1,373 Accounts payable and other liabilities 16 93 Net (liabilities) assets $ (16) $ 1,280 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 26, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | September 26, December 31, 2015 2014 Machinery and equipment $ 3,847 $ 3,883 Leasehold improvements 1,833 1,833 Property, plant and equipment, at cost 5,680 5,716 Less accumulated depreciation 3,829 3,726 Property, plant and equipment, net $ 1,851 $ 1,990 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 26, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Costs of Retirement Plans [Table Text Block] | Three Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Interest cost $ 70 $ 75 $ 210 $ 224 Amortization of prior service benefit (23) (38) (69) (115) Amortization of actuarial loss 29 18 87 56 Net periodic postretirement benefit cost $ 76 $ 55 $ 228 $ 165 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 26, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Weighted average shares outstanding for basic calculation 14,285 14,209 14,260 14,185 Add: Effect of dilutive stock awards 263 - 271 - Weighted average shares outstanding, adjusted for diluted calculation 14,548 14,209 14,531 14,185 |
Schedule of Stockholders Equity [Table Text Block] | Accumulated Capital in Other Common Excess of Retained Comprehensive Stock Par Value Earnings Loss Balance at December 31, 2014 $ 283 $ 16,710 $ 26,683 $ (2,697) Net income - - 4,423 - Stock-based compensation - 539 - - Adjustment to net periodic benefit cost - - - 18 Balance at September 26, 2015 $ 283 $ 17,249 $ 31,106 $ (2,679) |
Restructuring and Related Cha18
Restructuring and Related Charges (Tables) | 9 Months Ended |
Sep. 26, 2015 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Lease Obligations Accrual at January 1, 2015 $ 480 Charges to expense - Cash payments (360) Accrual at September 26, 2015 $ 120 Lease Severance Total Accrual at January 1, 2014 $ 488 $ 169 $ 657 Charges to expense 354 (39) 315 Cash payments (242) (116) (358) Accrual at September 27, 2014 $ 600 $ 14 $ 614 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Sep. 26, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block] | Three Months Nine Months Ended Ended Sept. 26, Sept. 27, Sept. 26, Sept. 27, 2015 2014 2015 2014 Net sales $ 16 $ 3,510 $ 554 $ 19,263 Cost of sales 41 4,295 760 36,748 Selling, general and administrative expenses, net (36) 333 (134) 3,837 Other income 63 - 63 - Income (loss) from discontinued operations before income taxes 74 (1,118) (9) (21,322) Income taxes - - - - Income (loss) from discontinued operations, net of income taxes $ 74 $ (1,118) $ (9) $ (21,322) |
Schedule of Disposal Groups, Including Discontinued Operations Balance Sheet [Table Text Block] | September 26, December 31, 2015 2014 Accounts receivable, net $ - $ 695 Inventory, net - 678 Total assets - 1,373 Accounts payable and other liabilities 16 93 Net (liabilities) assets $ (16) $ 1,280 |
Property, Plant and Equipment20
Property, Plant and Equipment (Details) - Property, Plant and Equipment - USD ($) $ in Thousands | Sep. 26, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Machinery and equipment | $ 3,847 | $ 3,883 |
Leasehold improvements | 1,833 | 1,833 |
Property, plant and equipment, at cost | 5,680 | 5,716 |
Less accumulated depreciation | 3,829 | 3,726 |
Property, plant and equipment, net | $ 1,851 | $ 1,990 |
Income taxes (Details)
Income taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||
Operating Loss Carryforwards | $ 2,979 | $ 2,979 | |||
Deferred Tax Assets, Valuation Allowance | 20,579 | 20,579 | $ 21,724 | ||
Deferred Tax Assets, Net, Current | $ 38 | $ 38 | |||
Effective Income Tax Rate Reconciliation, Percent | 1.80% | 0.00% | 1.60% | 0.00% |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - Components of other postretirement benefit cost - Other Postretirement Benefit Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Employee Benefit Plans (Details) - Components of other postretirement benefit cost [Line Items] | ||||
Interest cost | $ 70 | $ 75 | $ 210 | $ 224 |
Amortization of prior service benefit | (23) | (38) | (69) | (115) |
Amortization of actuarial loss | 29 | 18 | 87 | 56 |
Net periodic postretirement benefit cost | $ 76 | $ 55 | $ 228 | $ 165 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Employee Stock Option [Member] | ||||
Stockholders' Equity (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,352 | 1,639 | 1,376 | 1,639 |
Restricted Stock [Member] | ||||
Stockholders' Equity (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 544 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - Basic and Diluted Earnings Per Share Calculation - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Basic and Diluted Earnings Per Share Calculation [Abstract] | ||||
Weighted average shares outstanding for basic calculation | 14,285 | 14,209 | 14,260 | 14,185 |
Add: Effect of dilutive stock awards | 263 | 271 | ||
Weighted average shares outstanding, adjusted for diluted calculation | 14,548 | 14,209 | 14,531 | 14,185 |
Stockholders' Equity (Details25
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts [Line Items] | ||||
Balance at December 31, 2014 | $ 40,979 | |||
Net income | $ 465 | $ (2,556) | 4,423 | $ (26,682) |
Adjustment to net periodic benefit cost | (6) | $ 20 | (18) | $ 59 |
Balance at September 26, 2015 | 45,959 | 45,959 | ||
Common Stock [Member] | ||||
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts [Line Items] | ||||
Balance at December 31, 2014 | $ 283 | |||
Net income | ||||
Stock-based compensation | ||||
Adjustment to net periodic benefit cost | ||||
Balance at September 26, 2015 | 283 | $ 283 | ||
Additional Paid-in Capital [Member] | ||||
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts [Line Items] | ||||
Balance at December 31, 2014 | $ 16,710 | |||
Net income | ||||
Stock-based compensation | $ 539 | |||
Adjustment to net periodic benefit cost | ||||
Balance at September 26, 2015 | 17,249 | $ 17,249 | ||
Retained Earnings [Member] | ||||
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts [Line Items] | ||||
Balance at December 31, 2014 | 26,683 | |||
Net income | $ 4,423 | |||
Stock-based compensation | ||||
Adjustment to net periodic benefit cost | ||||
Balance at September 26, 2015 | 31,106 | $ 31,106 | ||
AOCI Attributable to Parent [Member] | ||||
Stockholders' Equity (Details) - Reconciliation of the activity in Stockholders` Equity accounts [Line Items] | ||||
Balance at December 31, 2014 | $ (2,697) | |||
Net income | ||||
Stock-based compensation | ||||
Adjustment to net periodic benefit cost | $ 18 | |||
Balance at September 26, 2015 | $ (2,679) | $ (2,679) |
Restructuring and Related Cha26
Restructuring and Related Charges (Details) - Restructuring accrual activity - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 26, 2015 | Sep. 27, 2014 | |
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||
Accrual | $ 657 | |
Charges to expense | 315 | |
Cash payments | (358) | |
Accrual | 614 | |
Lease Obligations [Member] | ||
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||
Accrual | $ 480 | 488 |
Charges to expense | 354 | |
Cash payments | $ (360) | (242) |
Accrual | $ 120 | 600 |
Severance And Other Termination Costs [Member] | ||
Restructuring and Related Charges (Details) - Restructuring accrual activity [Line Items] | ||
Accrual | 169 | |
Charges to expense | (39) | |
Cash payments | (116) | |
Accrual | $ 14 |
Income from Continued Dumping27
Income from Continued Dumping and Subsidy Offset Act (CDSOA) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Income For Continued Dumping And Subsidy Offset Act [Abstract] | ||||
Income from Continued Dumping and Subsidy Offset Act, net | $ 4,896 |
Discontinued Operations (Detail
Discontinued Operations (Details) - Loss from discontinued operations, net of taxes - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 26, 2015 | Sep. 27, 2014 | Sep. 26, 2015 | Sep. 27, 2014 | |
Loss from discontinued operations, net of taxes [Abstract] | ||||
Net sales | $ 16 | $ 3,510 | $ 554 | $ 19,263 |
Cost of sales | 41 | 4,295 | 760 | 36,748 |
Selling, general and administrative expenses, net | (36) | $ 333 | (134) | $ 3,837 |
Other income | 63 | 63 | ||
Income (loss) from discontinued operations before income taxes | $ 74 | $ (1,118) | $ (9) | $ (21,322) |
Income taxes | ||||
Income (loss) from discontinued operations, net of income taxes | $ 74 | $ (1,118) | $ (9) | $ (21,322) |
Discontinued Operations (Deta29
Discontinued Operations (Details) - Net assets for discontinued operations - USD ($) $ in Thousands | Sep. 26, 2015 | Dec. 31, 2014 |
Net assets for discontinued operations [Abstract] | ||
Accounts receivable, net | $ 695 | |
Inventory, net | 678 | |
Total assets | 1,373 | |
Accounts payable and other liabilities | $ 16 | 93 |
Net (liabilities) assets | $ (16) | $ 1,280 |