Chase (CCF) 10-Q 6 Jan 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Nov. 30, 2016	Dec. 31, 2016
Document and Entity Information
Entity Registrant Name	CHASE CORP
Entity Central Index Key	830,524
Document Type	10-Q
Document Period End Date	Nov. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,344,559
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016
Current Assets:
Cash & cash equivalents	$ 49,324	$ 73,411
Accounts receivable, less allowance for doubtful accounts of $801 and $830	36,406	34,835
Inventories	28,187	25,814
Prepaid expenses and other current assets	3,002	3,728
Due from sale of business	229	457
Assets held for sale	686	604
Total current assets	117,834	138,849
Property, plant and equipment, net	35,909	36,742
Other Assets:
Goodwill	50,933	43,576
Intangible assets, less accumulated amortization of $35,112 and $33,352	53,745	36,580
Cash surrender value of life insurance	4,530	4,530
Restricted investments	1,707	1,637
Funded pension plan	383	382
Deferred income taxes	412	441
Other assets	37	82
Total assets	265,490	262,819
Current Liabilities:
Current portion of long-term debt		43,400
Accounts payable	12,793	12,352
Accrued payroll and other compensation	3,126	6,553
Accrued expenses	3,892	3,892
Dividend payable	6,532
Accrued income taxes	1,522	2,317
Total current liabilities	27,865	68,514
Long-term debt, less current portion	41,300
Deferred compensation	1,719	1,649
Accumulated pension obligation	15,649	15,563
Other liabilities	730	328
Accrued income taxes	1,229	1,229
Deferred income taxes	1,448	1,447
Commitments and Contingencies (Note 10)
Equity:
First Serial Preferred Stock, $1.00 par value: Authorized 100,000 shares; none issued
Common stock, $.10 par value: Authorized 20,000,000 shares; 9,344,559 shares at November 30, 2016 and 9,278,486 shares at August 31, 2016 issued and outstanding	935	928
Additional paid-in capital	14,280	14,719
Accumulated other comprehensive loss	(17,417)	(15,479)
Retained earnings	177,752	173,921
Total equity	175,550	174,089
Total liabilities and equity	$ 265,490	$ 262,819

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 801	$ 830
Intangible assets, accumulated amortization (in dollars)	$ 35,112	$ 33,352
First Serial Preferred Stock, par value (in dollars per share)	$ 1	$ 1
First Serial Preferred Stock, Authorized shares	100,000	100,000
First Serial Preferred Stock, issued shares	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, Authorized shares	20,000,000	20,000,000
Common stock, shares issued	9,344,559	9,278,486
Common stock, shares outstanding	9,344,559	9,278,486

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Revenue
Sales	$ 60,269	$ 56,746
Royalties and commissions	1,088	732
Total revenues	61,357	57,478
Costs and Expenses
Cost of products and services sold	35,289	34,717
Selling, general and administrative expenses	11,752	11,510
Acquisition related costs (Note 14)	584
Exit costs related to idle facility (Note 15)	27
Write-down of certain assets under construction (Note 8)		365
Operating income	13,705	10,886
Interest expense	(246)	(250)
Gain on sale of location (Note 9)	792
Gain on sale of business (Note 8)		(1,031)
Other income (expense)	399	(31)
Income before income taxes	14,650	11,636
Income taxes	4,287	4,187
Net income	$ 10,363	$ 7,449
Net income available to common shareholders, per common and common equivalent share
Basic (in dollars per share)	$ 1.11	$ 0.81
Diluted (in dollars per share)	$ 1.10	$ 0.80
Weighted average shares outstanding
Basic (in shares)	9,228,338	9,141,620
Diluted (in shares)	9,321,002	9,282,670
Cash dividends paid per share (in dollars per share)	$ 0.70	$ 0.65

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 10,363	$ 7,449
Other comprehensive income:
Net unrealized gain on restricted investments, net of tax $7	13	28
Change in funded status of pension plans, net of tax	147	94
Foreign currency translation adjustment	(2,098)	(1,015)
Total other comprehensive (loss) income	(1,938)	(893)
Comprehensive income	$ 8,425	$ 6,556

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - 3 months ended Nov. 30, 2016 - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (loss)	Retained Earnings	Total
Balance at Aug. 31, 2016	$ 928	$ 14,719	$ (15,479)	$ 173,921	$ 174,089
Balance (in shares) at Aug. 31, 2016	9,278,486
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 4	(4)
Restricted stock grants, net of forfeitures (in shares)	42,160
Amortization of restricted stock grants		410			410
Amortization of stock option grants		118			118
Exercise of stock options	$ 5	874			879
Exercise of stock options (in shares)	49,291
Common stock received for payment of stock option exercises	$ (1)	(845)			(846)
Common stock received for payment of stock option exercises (in shares)	(11,905)
Common stock retained to pay statutory minimum withholding taxes on common stock	$ (1)	(992)			(993)
Common stock retained to pay statutory minimum withholding taxes on common stock (in shares)	(13,473)
Cash dividend accrued, $0.70 per share (per share)				(6,532)	(6,532)
Change in funded status of pension plan, net of tax $78			147		147
Foreign currency translation adjustment			(2,098)		(2,098)
Net unrealized gain on restricted investments, net of tax $7			13		13
Net income				10,363	10,363
Balance at Nov. 30, 2016	$ 935	$ 14,280	$ (17,417)	$ 177,752	$ 175,550
Balance (in shares) at Nov. 30, 2016	9,344,559

CONSOLIDATED STATEMENTS OF EQU7

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)$ / shares
CONSOLIDATED STATEMENT OF EQUITY
Annual cash dividends declared per share | $ / shares	$ 0.70
Change in funded status of pension plans, tax	$ 78
Net unrealized gain (loss) on restricted investments, tax	$ 7

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)	Nov. 30, 2015USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 10,363	$ 7,449
Adjustments to reconcile net income to net cash provided by operating activities
Gain on sale of location	(792)
Loss on write-down of certain assets under construction		365
Gain on sale of business (Note 8)		(1,031)
Depreciation	1,335	1,473
Amortization	2,176	1,916
Cost of sale of inventory step-up	190
Provision for allowance for doubtful accounts	(5)	61
Stock-based compensation	528	318
Realized gain on restricted investments	(3)	(2)
Decrease in cash surrender value life insurance		45
Deferred taxes	10
Increase (decrease) from changes in assets and liabilities
Accounts receivable	5	5,008
Inventories	(1,397)	36
Prepaid expenses & other assets	(535)	(279)
Accounts payable	(12)	(2,113)
Accrued compensation and other expenses	(2,826)	(3,793)
Accrued income taxes	(771)	(445)
Deferred compensation	71	73
Net cash provided by operating activities	8,337	9,081
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(652)	(418)
Retirements of (cost to acquire) intangible assets	(14)
Payment for acquisition	(30,435)
Proceeds from sale of fixed assets	1,382
Net proceeds from sale of business	229	1,500
Increase in restricted investments	(47)	(53)
Proceeds from settlement of CSV life insurance policies	1,504
Payments for cash surrender value life insurance		(46)
Net cash provided by (used in) investing activities	(28,033)	983
CASH FLOWS FROM FINANCING ACTIVITIES
Payments of principal on debt	(2,100)	(2,100)
Proceeds from exercise of common stock options	33	91
Payments of taxes on stock options and restricted stock	(993)
Net cash used in financing activities	(3,060)	(2,009)
INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS	(22,756)	8,055
Effect of foreign exchange rates on cash	(1,331)	(420)
CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD	73,411	43,819
CASH & CASH EQUIVALENTS, END OF PERIOD	49,324	51,454
Non-cash Investing and Financing Activities
Common stock received for payment of stock option exercises	846	100
Property, plant & equipment additions included in accounts payable	47	12
Annual cash dividend declared	$ 6,532	$ 5,999

Basis of Presentation

Basis of Presentation	3 Months Ended
	Nov. 30, 2016
Basis of Presentation
Basis of Presentation	Note 1 — Basis of Presentatio The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Therefore, they do not include all information and footnote disclosure necessary for a complete presentation of Chase Corporation’s financial position, results of operations and cash flows, in conformity with generally accepted accounting principles. Chase Corporation (the “Company,” “Chase,” “we,” or “us”) filed audited consolidated financial statements, which included all information and notes necessary for such complete presentation for the three years ended August 31, 2016, in conjunction with its 2016 Annual Report on Form 10-K. The results of operations for the interim period ended November 30, 2016 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended August 31, 2016, which are contained in the Company’s 2016 Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring items) which are, in the opinion of management, necessary for a fair statement of the Company’s financial position as of November 30, 2016, the results of its operations, comprehensive income and cash flows for the interim periods ended November 30, 2016 and 2015, and changes in equity for the interim period ended November 30, 2016. The financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Company uses the US dollar as the reporting currency for financial reporting. The financial position and results of operations of the Company’s UK-based operations are measured using the UK pound sterling as the functional currency. The financial position and results of operations of the Company’s operations based in France are measured using the euro as the functional currency. The financial position and results of the Company’s Spray Products (India) Private Limited business in India are measured using the Indian rupee as the functional currency. The functional currency for all of our other operations is the US dollar. Foreign currency translation gains and losses are determined using current exchange rates for monetary items and historical exchange rates for other balance sheet items, and are recorded as a change in other comprehensive income. Transaction gains and losses generated from the remeasurement of assets and liabilities denominated in currencies other than the functional currency of applicable operation are included in other income / (expense) on the condensed consolidated statements of operations and were $399, and ($96) for the three-month periods ended November 30, 2016 and 2015, respectively. On September 30, 2016, the Company acquired certain assets of Resin Designs, LLC (“Resin Designs”), an advanced adhesives and sealants manufacturer, with locations in Woburn, MA and Newark, CA. The business was acquired for a purchase price of $30,435, pending any final working capital adjustment and excluding acquisition-related costs. As part of this transaction, Chase acquired all working capital and fixed assets of the business, and entered into multi-year leases at both locations. The Company expensed $584 of acquisition-related costs during the three-month period ended November 30, 2016 associated with this acquisition. The purchase was funded entirely with available cash on hand. Resin Designs is a formulator of customized adhesive and sealant systems used in high-reliability electronic applications. The acquisition broadens the Company’s adhesives and sealants product offering and manufacturing capabilities, and expands its market reach. The Company is currently in the process of finalizing purchase accounting, and anticipates completion within the first half of fiscal 2017. Since the effective date of the acquisition, the financial results of Resin Designs’ operations have been included in the Company’s financial statements within the electronic and industrial coatings product line, contained within the Industrial Materials operating segment. See Note 14 to the Condensed Consolidated Financial Statements for additional information on the acquisition of the assets and operations of Resin Designs. On June 23, 2016, the Company acquired all the capital stock of Spray Products (India) Private Limited for $1,161, net of cash acquired. This acquired business works closely with our HumiSeal ® manufacturing operation in Winnersh, Wokingham, England. The acquisition in India enhances the Company’s ability to provide technical, sales, manufacturing, chemical handling, and packaging services in the region. Since the effective date for this acquisition, the financial results of the business have been included in the Company's financial statements within the Company’s Industrial Materials operating segment in the electronic and industrial coatings product line. Purchase accounting was completed in the quarter ended August 31, 2016. In November 2015, the Company sold its RodPack ® wind energy business, contained within its structural composites product line, to an otherwise unrelated party (“Buyer”) for proceeds of $2,186. The Company’s structural composites product line is a part of the Company’s Industrial Materials operating segment.

Recent Accounting Standards

Recent Accounting Standards	3 Months Ended
	Nov. 30, 2016
Accounting Policies
Recent Accounting Standards	Note 2 — Recent Accounting Standards Recently Issued Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which will replace most of the existing revenue recognition guidance under US Generally Accepted Accounting Principles (“GAAP”). The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. In March, April and May 2016, the FASB issued ASU 2016-08 “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10 “Identifying Performance Obligations and Licensing,” and ASU 2016-12, “Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients” all of which provide further clarification to be considered when implementing ASU 2014-09. The ASU will be effective for the Company beginning September 1, 2018 (fiscal 2019), including interim periods in its fiscal year 2019, and allows for either retrospective or modified retrospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on the Company’s consolidated financial position, results of operations and cash flows. In August 2014, the FASB issued ASU No. 2014-15 “Presentation of Financial Statements: Going Concern (Subtopic 205-40),” which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The guidance applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter (fiscal year 2017 for the Company). The adoption of ASU 2014-15, which occurred in the first quarter of fiscal 2017, did not have a material effect on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires that debt issue costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the amount of the debt liability, consistent with debt discounts and premiums. Amortization of such costs is still reported as interest expense. ASU 2015-03 is effective for fiscal years, and interim periods therein, beginning after December 15, 2015 (fiscal year 2017 for the Company). In August 2015, the FASB issued ASU 2015-15, "Presentation and Subsequent Measurement of Debt Issue Costs Associated with Line-of-Credit Arrangements." ASU 2015-15 supplements the requirements of ASU 2015-03 by allowing an entity to defer and present debt issue costs related to a line of credit arrangement as an asset and subsequently amortize the deferred costs ratably over the term of the line of credit arrangement. The adoption of ASU 2015-03 and ASU 2015-15, which occurred in the first quarter of fiscal 2017, did not have a material effect on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (a) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (b) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Changes were made to align lessor accounting with the lessee accounting model and ASU No. 2014-09, “Revenue from Contracts with Customers.” The ASU will be effective for the Company beginning September 1, 2019 (fiscal 2020). Early application is permitted for all public business entities upon issuance. Lessees must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. We are currently evaluating the impact of the application of this ASU on our consolidated financial statements and disclosures thereto. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting.” This ASU simplifies the accounting for share-based payment transactions including the accounting for income taxes, forfeitures, statutory tax withholding requirements and classification in the statement of cash flows. The required effective date for adoption of this guidance would be our fiscal year beginning September 1, 2017 (fiscal 2018), with early adoption allowed. The updated standard no longer requires cash flows related to excess tax benefits to be presented as a financing activity separate from other income tax cash flows. The update also allows entities to repurchase more of an employee's shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments to taxing authorities made on an employee's behalf for withheld shares should be presented as a financing activity on the statement of cash flows, and provides for an accounting policy election to account for forfeitures as they occur. The Company early adopted this standard as of September 1, 2016 and during the first quarter of fiscal 2016 recognized an excess tax benefit from stock-based compensation of $794 within income tax expense on the condensed consolidated statement of operations (adopted prospectively). The adoption did not impact the existing classification of the awards. Excess tax benefits from stock based compensation is now classified in net income in the statement of cash flows instead of being separately stated in financing activities for the three months ended November 30, 2016 (adopted prospectively). Given the Company’s historical practice of including employee withholding taxes paid within financing activities in the statement of cash flows, no prior period reclassifications are required by the clarifications on classification provided by ASU No. 2016-09. Due predominately to the inclusion of the excess tax benefit, the effective tax rate for the first quarter of fiscal 2017 decreased to 29.3%, compared to effective tax rates of 36.0% and 34.5% recognized for the first quarter and whole year periods of fiscal 2016, respectively; further, the Company anticipates the potential for increased periodic volatility in future effective tax rates based on the continued application of the ASU No. 2016-09. Following the adoption of the new standard, the Company has elected to account for forfeitures as they occur. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230).” This ASU provides guidance on the presentation and classification of specific cash flow items to improve consistency within the statement of cash flows. The effective date for adoption of this guidance would be our fiscal year beginning September 1, 2018 (fiscal 2019), with early adoption permitted. The Company is currently evaluating the effect that ASU No. 2016-15 will have on its financial statements and related disclosures.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2016
Inventories
Inventories	Note 3 — Inventories Inventories consist of the following as of November 30, 2016 and August 31, 2016: November 30, August 31, 2016 2016 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share

Net Income Per Share	3 Months Ended
	Nov. 30, 2016
Net Income Per Share
Net Income Per Share	Note 4 — Net Income Per Share The Company has unvested share-based payment awards with a right to receive non-forfeitable dividends which are considered participating securities under ASC Topic 260, “Earnings Per Share.” The Company allocates earnings to participating securities and computes earnings per share using the two class method. The determination of earnings per share under the two class method is as follows: Three Months Ended November 30, 2016 2015 Basic Earnings per Share Net income $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ Basic weighted average shares outstanding Net income per share - Basic $ $ Diluted Earnings per Share Net income $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ Basic weighted average shares outstanding Additional dilutive common stock equivalents Diluted weighted average shares outstanding Net income per share - Diluted $ $ For the three months ended November 30, 2016 and 2015, stock options to purchase 38,591 and 31,485 shares, respectively, of common stock were outstanding but were not included in the calculation of diluted income per share because their inclusion would be anti-dilutive. Included in the calculation of dilutive common stock equivalents are the unvested portion of restricted stock and stock options.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Nov. 30, 2016
Stock Based Compensation
Stock Based Compensation	Note 5 — Stock-Based Compensation In August 2015, the Board of Directors of the Company approved the fiscal year 2016 Long Term Incentive Plan (“2016 LTIP”) for the executive officers and other members of management. The 2016 LTIP is an equity-based plan with a grant date of September 1, 2015 and contains a performance and service-based restricted stock grant of 6,962 shares in the aggregate, subject to adjustment, with a vesting date of August 31, 2018. Based on the fiscal year 2016 financial results, 6,277 additional shares of restricted stock (total of 13,239 shares) were earned and granted subsequent to the end of fiscal year 2016 in accordance with the performance measurement criteria. No further performance-based measurements apply to this award. Compensation expense is being recognized on a ratable basis over the vesting period. In August 2016, the Board of Directors of the Company approved the fiscal year 2017 Long Term Incentive Plan (“2017 LTIP”) for the executive officers and other members of management. The 2017 LTIP is an equity-based plan with a grant date of September 1, 2016 and contains the following equity components: Restricted Shares — (a) a performance and service-based restricted stock grant of 5,399 shares in the aggregate, subject to adjustment based on fiscal 2017 results, with a vesting date of August 31, 2019. Compensation expense is recognized on a ratable basis over the vesting period based on quarterly probability assessments; (b) a time-based restricted stock grant of 5,367 shares in the aggregate, with a vesting date of August 31, 2019. Compensation expense is recognized on a ratable basis over the vesting period. Stock options — options to purchase 15,028 shares of common stock in the aggregate with an exercise price of $64.37 per share. The options will vest in three equal annual installments beginning on August 31, 2017 and ending on August 31, 2019. Of the options granted, 5,596 options will expire on August 31, 2026, and 9,432 options will expire on September 1, 2026. Compensation expense is recognized over the period of the award consistent with the vesting terms. In August 2016, the Board of Directors of the Company approved equity retention agreements with certain executive officers. The equity-based retention agreements have a grant date of September 1, 2016 and contain the following equity components: (a) time-based restricted stock grant of 16,312 shares in the aggregate, with 7,768 shares having a vesting date of August 31, 2019, and 8,544 shares having a vesting date of August 31, 2021; (b) options to purchase 23,563 shares of common stock in the aggregate with an exercise price of $64.37 per share (the options will cliff vest on August 31, 2019 and will expire on August 31, 2026). Compensation expense for both the restricted stock and the stock option components of the equity retention agreements is recognized on a ratable basis over the vesting period. During the first quarter of fiscal 2016, additional grants totaling 8,805 shares of restricted shares were issued to non-executive members of management with a vesting date of August 31, 2021. Compensation expense is recognized on a ratable basis over the vesting period.

Segment Data & Foreign Operatio

Segment Data & Foreign Operations	3 Months Ended
	Nov. 30, 2016
Export Sales and Foreign Operations
Segment Data & Foreign Operations	Note 6 — Segment Data & Foreign Operations The Company is organized into two operating segments, an Industrial Materials segment and a Construction Materials segment. The segments are distinguished by the nature of the products and how they are delivered to their respective markets. The Industrial Materials segment includes specified products that are used in, or integrated into, another company’s product, with demand typically dependent upon general economic conditions. Industrial Materials products include insulating and conducting materials for wire and cable manufacturers, moisture protective coatings for electronics, laminated durable papers, laminates for the packaging and industrial laminate markets, pulling and detection tapes used in the installation, measurement and location of fiber optic cables and water and natural gas lines, cover tapes essential to delivering semiconductor components via tape and reel packaging, composite materials and elements, glass-based strength element products designed to allow fiber optic cables to withstand mechanical and environmental strain and stress, microspheres, sold under the Dualite brand, and polyurethane dispersions. Further, beginning June 23, 2016, and September 30, 2016, respectively, the Industrial Materials segment includes the acquired operations of Spray Products (India) Limited and of Resin Designs, LLC . Both were obtained through acquisition and included in the Company’s electronic and industrial coatings product line. The Construction Materials segment is principally composed of project-oriented product offerings that are primarily sold and used as “Chase” branded products. Construction Materials products include protective coatings for pipeline applications, coating and lining systems for use in liquid storage and containment applications, adhesives and sealants used in architectural and building envelope waterproofing applications, high-performance polymeric asphalt additives, and expansion and control joint systems for use in the transportation and architectural markets. The following tables summarize information about the Company’s reportable segments: Three Months Ended November 30, 2016 2015 Revenue Industrial Materials $ $ Construction Materials Total $ $ Income before taxes Industrial Materials $ (a) $ (c) Construction Materials Total for reportable segments Corporate and common costs (b) Total $ $ Includes the following costs by segment: Industrial Materials Interest $ $ Depreciation Amortization Construction Materials Interest $ $ Depreciation Amortization (a) Includes $190 of expenses related to inventory step-up in fair value attributable to the September 2016 acquisition of certain assets of Resin Designs, LLC (b) Includes $584 in acquisition-related expenses attributable to the September 2016 acquisition of certain assets of Resin Designs, LLC, facility exit and demolition costs of $27 incurred during the quarter, relating to the Company’s Randolph, MA location and a $792 gain related to the November 2016 sale of the Company’s Paterson, NJ location (c) Includes both a $1,031 gain on sale of our RodPack wind energy business contained within our structural composites product line and a $365 write-down on certain other structural composites assets based on usage constraints following the sale, both recognized in November 2015 Total assets for the Company’s reportable segments as of November 30, 2016 and August 31, 2016 were: November 30, August 31, 2016 2016 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and common assets Total $ $ The Company’s products are sold worldwide. Revenue for the three-month periods ended November 30, 2016 and 2015 are attributed to operations located in in the following countries: Three Months Ended November 30, 2016 2015 Revenue United States $ $ United Kingdom All other foreign (1) Total $ $ (1) Inclusive of sales originated from our Paris, France location, royalty revenue attributable to our licensed manufacturer in Asia, and Chase foreign manufacturing operations. As of November 30, 2016 and August 31, 2016, the Company had long-lived assets ( defined as tangible assets providing the Company with a future economic benefit beyond the current year or operating period, including buildings, equipment and leasehold improvements) and goodwill and intangible assets, less accumulated amortization, in the following countries: November 30, August 31, 2016 2016 Long-lived Assets United States Property, plant and equipment, net $ $ Goodwill and Intangible assets, less accumulated amortization United Kingdom Property, plant and equipment, net Goodwill and Intangible assets, less accumulated amortization All other foreign Property, plant and equipment, net Goodwill and Intangible assets, less accumulated amortization Total Property, plant and equipment, net $ $ Goodwill and Intangible assets, less accumulated amortization $ $

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Nov. 30, 2016
Goodwill and Other Intangibles
Goodwill and Other Intangibles	Note 7 — Goodwill and Other Intangibles The changes in the carrying value of goodwill are as follows: Industrial Construction Materials Consolidated Balance at August 31, 2016 $ $ $ Acquisition of Resin Designs, LLC — Foreign currency translation adjustment Balance at November 30, 2016 $ $ $ The Company’s goodwill is allocated to each reporting unit based on the nature of the products manufactured by the respective business combinations that originally created the goodwill. The Company has identified eleven reporting units within its two operating segments that are used to evaluate the possible impairment of goodwill. Goodwill impairment exists when the carrying value of goodwill exceeds its fair value. Assessments of possible impairment of goodwill are made when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations. Additionally, testing for possible impairment of recorded goodwill and certain intangible asset balances is required annually. The amount and timing of any impairment charges based on these assessments require the estimation of future cash flows and the fair market value of the related assets based on management’s best estimates of certain key factors, including future selling prices and volumes; operating, raw material and energy costs; and various other projected operating and economic factors. When testing, fair values of the reporting units and the related implied fair values of their respective goodwill are established using discounted cash flows. The Company evaluates the possible impairment of goodwill annually during the fourth quarter and, whenever events or circumstances indicate the carrying value of goodwill may not be recoverable. Intangible assets subject to amortization consist of the following as of November 30, 2016 and August 31, 2016: Weighted Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value November 30, 2016 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ August 31, 2016 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ Aggregate amortization expense related to intangible assets for the three months ended November 30, 2016 and 2015 was $2,176 and $1,916, respectively. Estimated amortization expense for the remainder of fiscal year 2017 and for the next five years is as follows: Years ending August 31, 2017 (remaining 9 months) $ 2018 2019 2020 2021 2022

Sale of RodPack Business

Sale of RodPack Business	3 Months Ended
	Nov. 30, 2016
Sale of RodPack Business
Sale of RodPack Business	Note 8 — Sale of RodPack Business In November 2015, the Company sold its RodPack wind energy business, contained within its structural composites product line, to an otherwise unrelated party (“Buyer”) for proceeds of $2,186. The Company’s structural composites product line is a part of the Company’s Industrial Materials segment. The Company is not restricted in its use of the net proceeds from the sale. The sale resulted in a pre-tax book gain of $1,031, which was recorded within the condensed consolidated statement of operations as gain on sale of business in the quarter ended November 30, 2015. The Company received $1,500 of the proceeds in the first quarter of fiscal 2016, and has received two additional payments each for $229 during the quarters ended May 31, 2016 and November 30, 2016. It will receive the remaining instalment payment in the third quarter of fiscal 2017, and has recorded the balance as a current asset (Due from sale of business) as of November 30, 2016. The payment of these owed amounts is not subject to any further contingency or deliverable. Further, the Company will provide ongoing development support to the Buyer for which it will receive additional consideration upon the completion of services. The sale of this business prompted the Company to perform a review of other long-lived assets within the structural composites product line, as the sale of the related intangible assets resulted in a limitation of the Company’s capacity to sell certain other goods produced by the product line. This review resulted in the identification of construction in progress assets with a net book value of $365, which the Company fully wrote down. This charge was recorded within the condensed consolidated statement of operations as write-down of certain assets under construction during the first quarter of fiscal 2016.

Sale of Paterson, NJ Location

Sale of Paterson, NJ Location	3 Months Ended
	Nov. 30, 2016
Sale of Paterson, NJ Lcation
Sale of Paterson, NJ Location	Note 9 — Sale of Paterson, NJ Location In November 2016, the Company finalized the sale of its Paterson, NJ property for proceeds of $1,382. This transaction resulted in a gain of $792 which was recorded in the Company’s condensed consolidated statement of operations as a gain on sale of location during the fiscal quarter ended November 30, 2016. The Company had previously reclassified the related long-lived assets to assets held for sale after committing to a plan in the second quarter of fiscal 2016 to actively market the property. The assets held for sale had been reported within Corporate and Common assets as of August 31, 2016.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 30, 2016
Commitments and Contingencies
Commitments and Contingencies	Note 10 — Commitments and Contingencies The Company is involved from time to time in litigation incidental to the conduct of its business. Although the Company does not expect that the outcome in any of these matters, individually or collectively, will have a material adverse effect on its financial condition, results of operations or cash flows, litigation is inherently unpredictable. Therefore, judgments could be rendered or settlements agreed to, that could adversely affect the Company’s operating results or cash flows in a particular period. The Company routinely assesses all of its litigation and threatened litigation as to the probability of ultimately incurring a liability, and records its best forecast of the ultimate loss in situations where the Company assesses the likelihood of loss as probable.

Pensions and Other Post Retirem

Pensions and Other Post Retirement Benefits	3 Months Ended
	Nov. 30, 2016
Pensions and Other Post Retirement Benefits
Pensions and Other Post Retirement Benefits	Note 11 — Pensions and Other Post-Retirement Benefits The components of net periodic benefit cost for the three months ended November 30, 2016 and 2015 are as follows: Three Months Ended November 30, 2016 2015 Components of net periodic benefit cost Service cost $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of accumulated loss Net periodic benefit cost $ $ When funding is required, the Company’s policy is to contribute amounts that are deductible for federal income tax purposes. As of November 30, 2016, the Company has made contributions of $21 in the current fiscal year to fund its obligations under its pension plans, and plans to make the necessary contributions over the remainder of fiscal 2017 to ensure the qualified plan continues to be adequately funded given the current market conditions. The Company made contributions of $77 in the first three months of the prior year.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements
Fair Value Measurements	Note 12 — Fair Value Measurements The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. The Company uses a three-tier fair value hierarchy, which classifies the inputs used in measuring fair values. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company utilizes the best available information in measuring fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The financial assets classified as Level 1 and Level 2 as of November 30, 2016 and August 31, 2016 represent investments that are restricted for use in a nonqualified retirement savings plan for certain key employees and directors. The following table sets forth the Company’s financial assets that were accounted for at fair value on a recurring basis as of November 30, 2016 and August 31, 2016: Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Assets: Restricted investments November 30, 2016 $ $ — Restricted investments August 31, 2016 $ $ — The following table presents the fair value of the Company’s long-term debt (including current portion of long-term debt) as of November 30, 2016 and August 31, 2016, which is recorded at its carrying value: Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Liabilities: Long-term debt November 30, 2016 $ $ — — Long-term debt August 31, 2016 $ $ — — The carrying value of the long-term debt approximates its fair value, as the monthly interest rate is set based on the movement of the underlying market rates. In December 2016, subsequent to the first quarter of fiscal 2017, Chase refinanced its term debt, with a new credit agreement. See Note 18 to the condensed consolidated financial statements for additional information on the refinancing of debt in the second quarter of fiscal 2017.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Nov. 30, 2016
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income	Note 13 — Accumulated Other Comprehensive Income The changes in accumulated other comprehensive income (loss), net of tax, were as follows: Change in Funded Foreign Currency Restricted Status of Translation Investments Pension Plan Adjustment Total Balance at August 31, 2016 $ $ $ $ Other comprehensive gains (losses) before reclassifications (1) — Reclassifications to net income of previously deferred (gains) losses (2) — Other comprehensive income (loss) Balance at November 30, 2016 $ $ $ $ (1) Net of tax expense of $8, $0, $0, respectively. (2) Net of tax expense of $1, tax benefit of $78, $0, respectively. The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the unaudited condensed consolidated statements of income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended November 30, Location of Gain (Loss) Reclassified from Accumulated 2016 2015 Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: Realized gain on sale of restricted investments $ $ Selling, general and administrative expenses Tax expense (benefit) Gain net of tax $ $ Loss on Funded Pension Plan adjustments: Amortization of prior pension service costs and unrecognized losses $ $ Cost of products and services sold Amortization of prior pension service costs and unrecognized losses $ $ Selling, general and administrative expenses Tax expense (benefit) Loss net of tax $ $ Total net loss reclassified for the period $ $

Acquisition of Specialty Chemic

Acquisition of Specialty Chemical Intermediates Product Line	3 Months Ended
	Nov. 30, 2016
Acquisition of Specialty Chemical Intermediates Product Lines
Acquisitions	Note 14 — Acquisitions Acquisition of Resin Designs, LLC On September 30, 2016, the Company acquired certain assets of Resin Designs, LLC (“Resin Designs”), an advanced adhesives and sealants manufacturer, with locations in Woburn, MA and Newark, CA. This business was acquired for a purchase price of $30,435, pending any final working capital adjustment and excluding acquisition-related costs. As part of this transaction, Chase acquired all working capital and fixed assets of the business, and entered into multi-year leases at both locations. Resin Designs is a formulator of customized adhesive and sealant systems used in high-reliability electronic applications. The acquisition broadens the Company’s adhesives and sealants product offering and manufacturing capabilities, and expands its market reach. The purchase was funded entirely with available cash on hand. Since the effective date for this acquisition, September 30, 2016, the financial results of the acquired business have been included in the Company’s financial statements within the Industrial Materials operating segment, within the electronic and industrial coatings product line. The acquisition was accounted for as a business combination under ASC Topic 805, “Business Combinations.” In accordance with this accounting standard, the Company expensed $584 of acquisition-related costs during the three-month period ended November 30, 2016 to acquisition-related costs. The Company is currently in the process of finalizing purchase accounting, with regard to a final working capital adjustment and a final allocation of the purchase price to tangible and identifiable intangible assets assumed, and anticipates completion within the first half of fiscal 2017. The purchase price has been initially allocated to the acquired tangible and identifiable intangible assets assumed, based on their fair values as of the date of the acquisition: Assets & Liabilities Amount Accounts receivable $ Inventory Prepaid expenses and other current assets Property, plant & equipment Goodwill Intangible assets Accounts payable and accrued liabilities Total purchase price $ The excess of the purchase price over the net tangible and intangible assets acquired resulted in goodwill of $7,592 that is largely attributable to the synergies and economies of scale from combining the operations, technologies and research and development capabilities of Resin Designs and Chase, particularly as it pertains to the expansion of the Company's product and service offerings, the established workforce and marketing efforts. This goodwill is deductible for income tax purposes. All assets, including goodwill, acquired as part of the Resin Designs acquisition are included in the Industrial Materials operating segment. Identifiable intangible assets purchased with this transaction are as follows: Intangible Asset Amount Useful life Customer relationships $ years Technology years Trade names years Total intangible assets $ Supplemental Pro Forma Data The following table presents the pro forma results of the Company for the three-month periods ended November 30, 2016 and 2015 as though the Resin Designs acquisition described above occurred on September 1, 2015 (the first day of fiscal 2016). The actual revenue and expenses for the acquired business are included in the Company’s fiscal 2017 consolidated results beginning on September 30, 2016. From the date of acquisition (September 30, 2016) through November 30, 2016, revenue and net income (loss) for the Resin Designs operations included in the condensed consolidated statement of operations were $2,619 and ($237), respectively, inclusive of the effects of $584 in acquisition-related costs, $190 in sale of inventory step-up cost, and additional amortization expense recognized related to intangible assets recorded as part of the transaction. The pro forma results include adjustments for the estimated amortization of intangibles, acquisition-related costs, sale of inventory step-up cost and the income tax impact of the pro forma adjustments at the statutory rate of 35%. The following pro forma information is not necessarily indicative of the results that would have been achieved if the acquisition had been effective on September 1, 2015. Three Months Ended November 30, 2016 2015 Revenue $ $ Net income Net income available to common shareholders, per common and common equivalent share Basic earnings per share $ $ Diluted earnings per share $ $ Acquisition of Spray Products (India) Private Limited On June 23, 2016, the Company acquired all the capital stock of Spray Products (India) Private Limited for $1,161, net of cash acquired. This acquired business works closely with our HumiSeal manufacturing operation in Winnersh, Wokingham, England. The acquisition in India enhances the Company’s ability to provide technical, sales, manufacturing, chemical handling, and packaging services in the region. Since the effective date for this acquisition, the financial results of the business have been included in the Company's financial statements within the Company’s Industrial Materials operating segment in the electronic and industrial coatings product line. Purchase accounting was completed in the quarter ended August 31, 2016.

Exit Costs Related to Idle Faci

Exit Costs Related to Idle Facility	3 Months Ended
	Nov. 30, 2016
Restructuring Charges
Exit Costs Related to Idle Facility	Note 15 — Exit Costs Related to Idle Facility In the quarterly period ended November 30, 2016, the Company recognized $27 in expenses to raze its Randolph, MA facility, which has been idle with regard to production for several years. The Company began marketing the site for sale and reclassified the net book value of the facility to assets held for sale during the second quarter of fiscal 2016. These actions were taken as part of the Company’s on-going facility consolidation and rationalization initiative. The Company has updated its initial estimates, and currently anticipates no more than an additional $100 in expenses associated with completing the project, and expects work to be completed during fiscal 2017, with the sale of the property to follow. The Company recognized $935 in expenses in fiscal 2016 (during the second, third and fourth quarters) bringing the project to near completion. See Note 16 to the condensed consolidated financial statements for additional information on assets held for sale.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Nov. 30, 2016
Property plant and equipment assets held for sale
Assets Held for Sale	Note 16 — Assets Held for Sale The Company periodically reviews long-lived assets against its plans to retain or ultimately dispose of these assets. If the Company decides to dispose of an asset and commits to a plan to actively market and sell the asset, it will be moved to assets held for sale. The Company analyzes market conditions each reporting period and, if applicable, records additional impairments due to declines in market values of like assets. The fair value of the asset is determined by observable inputs such as appraisals and prices of comparable assets in active markets for assets like the Company's. Gains are not recognized until the assets are sold. In October 2016, Chase entered into an agreement to sell its former corporate headquarters and executive offices in Bridgewater, MA. This transaction was conditioned upon the execution of a definitive asset purchase and sale agreement. In December 2016, subsequent to the first fiscal quarter, all conditions were met, and the sale was finalized for proceeds of $740, resulting in a gain on sale of $68, which will be recognized in the second quarter of fiscal 2017. The Company has determined that the related assets qualified for held for sale disclosure under ASC Topic 360, “Property, Plant and Equipment” at the end of the first fiscal quarter of 2017. See Note 17 to the condensed consolidated financial statements for additional information on the sale of the Bridgewater, MA location. Assets held for sale as of November 30, 2016 and August 31, 2016 were: November 30, 2016 August 31, 2016 Bridgewater, MA - Building and land $ $ — Randolph, MA - Property, plant and equipment (a) Paterson, NJ - Building and leasehold improvements (b) — Total $ $ (a) See Note 15 to the condensed consolidated financial statements for additional information on Randolph, MA location assets held for sale as of November 30, 2016 and August 31, 2016. (b) See Note 9 to the condensed consolidated financial statements for additional information on the sale of the Paterson, NJ location in the quarter ended November 30, 2016.

Related Party Agreements

Related Party Agreements	3 Months Ended
	Nov. 30, 2016
Related Party Agreements
Related Party Agreements	Note 17 — Related Party Agreements Reimbursements Related to Life Insurance Policies During the fourth quarter of fiscal 2016 and the first quarter of fiscal 2017, the Edward L. Chase Trust (the “Trust”), owners of two insurance policies on the life of Claire E. Chase, reimbursed the Company for premiums paid on the policies in exchange for the Company’s release of any claims on the policies. In August 2016 (the fourth quarter of fiscal 2016), the Company received $1,238 related to the John Hancock (formerly Manufacturers’ Life Insurance Company) policy, the full value of premiums paid to date by the Company. In September 2016 (the first quarter of fiscal 2017), the Company received $1,504 related to the Metropolitan Life Insurance policy, its then cash surrender value, plus an additional prepaid related to the policy. Claire E. Chase is the spouse of a former executive of the Company, Edward L. Chase (deceased), and who in each case are the parents of Peter R. Chase (the Executive Chairman of the Company) and Mary Claire Chase (Director) and the grandparents of Adam P. Chase (the President and CEO of the Company). The Trust is the beneficial owner of more than 5% of the Company’s common stock. Terms and conditions of these transactions were reviewed and approved by the independent members of the Company's Board of Directors in advance. Sale of Bridgewater, MA Location In October 2016, Chase entered into an agreement to sell its former corporate headquarters and executive offices in Bridgewater, MA. At that time the transaction was conditioned upon the execution of a definitive asset purchase and sale agreement. In December 2016, subsequent to the first fiscal quarter, all conditions were met, and the sale was finalized for proceeds of $740, resulting in a gain on sale of $68, which will be recognized in the second quarter of fiscal 2017. The buyer, Bridgewater State University Foundation, Inc., was deemed a related party because of preexisting professional connections between it and two members of the Company’s Board of Directors, including Peter R. Chase (the Executive Chairman of the Company) and Dana Mohler-Faria (Director). The terms and conditions of the proposed transaction were reviewed and approved by all members of the Company's Board of Directors who were not parties related to the potential buyer, prior to entering into the then conditional agreement in October 2016. They concluded that the sale price was appropriate, after considering a recent market appraisal of the land and building performed by an independent third party valuation firm.

Subsequent Event

Subsequent Event	3 Months Ended
	Nov. 30, 2016
Subsequent events
Subsequent events	Note 18 — Subsequent Events Refinancing of Long-Term Debt On December 15, 2016, the Company entered into an Amended and Restated Credit Agreement (the “New Credit Agreement”). The New Credit Agreement is an all revolving credit facility with a borrowing capacity of $150,000 which can be increased by an additional $50,000 at the request of the Company and the individual or collective option of any of the Lenders (defined below). The New Credit Agreement with Bank of America, acting as administrative agent, and with participation from Citizens Bank and JPMorgan Chase Bank (collectively with Bank of America, the “Lenders”), contains customary affirmative and negative covenants that, among other things, restricts our ability to incur additional indebtedness and requires certain lender approval for acquisitions by the Company and its subsidiaries over a certain size. It also requires us to maintain certain financial ratios on a consolidated basis, including a consolidated net leverage ratio (as defined in the facility) of no more than 3.25 to 1.00, and a consolidated fixed charge coverage ratio (as defined in the facility) of at least 1.25 to 1.00. The New Credit Agreement was entered into both to refinance our previously existing term loan and revolving line of credit and to provide for additional liquidity to finance potential acquisitions, working capital, capital expenditures, and for other general corporate purposes. The applicable interest rate for the revolver portion of the New Credit Agreement (the “New Revolving Facility”) and any New Term Loan (defined below) is based on the effective London Interbank Offered Rate (LIBOR) plus an additional amount in the range of 1.00% to 1.75%, depending on the consolidated net leverage ratio of Chase and its subsidiaries. The New Credit Agreement has a five-year term with interest payments due at the end of the applicable LIBOR period (but in no event less frequently than the three-month anniversary of the commencement of such LIBOR period) and principal payment due at the expiration of the agreement, December 15, 2021. In addition, the Company may elect a base rate option for all or a portion of the New Revolving Facility, in which case, interest payments shall be due with respect to such portion of the New Revolving Facility on the last business day of each quarter. Subject to certain conditions set forth in the New Credit Agreement (entered by and among the Company, NEPTCO Incorporated (“NEPTCO”), certain Subsidiaries of the Company and NEPTCO party thereto as Guarantors, and the financial institutions party thereto as Lenders), the Company may elect to convert all or a portion of the outstanding New Revolving Facility into a term loan (each, a “New Term Loan”, and collectively with the New Revolving Facility, the “New Credit Facility”), which shall be payable quarterly in equal installments sufficient to amortize the original principal amount of such New Term Loan on a seven-year amortization schedule. Prepayment is allowed by the New Credit Agreement at any time during the term of the agreement, subject to customary notice requirements. In connection with entry into the New Credit Agreement, Chase applied proceeds to pay off in full the outstanding principal balance of its preexisting term debt held under a previously existing credit agreement, which was entered in conjunction with the Company’s June 27, 2012 acquisition of NEPTCO Holdings, simultaneously terminating both our previously existing term loan agreement and the previously existing revolving line of credit, which was fully available as of December 15, 2016. As the preexisting term loan was refinanced with the New Revolving Facility, for which principal payment is due at the expiration of the agreement, December 15, 2021, we reclassified our preexisting term debt obligation to noncurrent on the condensed consolidated balance sheet as of November 30, 2016. Sale of Bridgewater, MA Location In October 2016, Chase entered into an agreement to sell its former corporate headquarters and executive offices in Bridgewater, MA. At that time the transaction was conditioned upon the execution of a definitive asset purchase and sale agreement. In December 2016, subsequent to the first fiscal quarter, all conditions were met, and the sale was finalized for proceeds of $740, resulting in a gain on sale of $68, which will be recognized in the second quarter of fiscal 2017. See Note 17 to the condensed consolidated financial statements for additional information on the sale of the Bridgewater, MA location.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2016
Inventories
Schedule of inventories	November 30, August 31, 2016 2016 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Nov. 30, 2016
Net Income Per Share
Schedule of determination of earnings per share under the two-class method	Three Months Ended November 30, 2016 2015 Basic Earnings per Share Net income $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ Basic weighted average shares outstanding Net income per share - Basic $ $ Diluted Earnings per Share Net income $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ Basic weighted average shares outstanding Additional dilutive common stock equivalents Diluted weighted average shares outstanding Net income per share - Diluted $ $

Segment Data & Foreign Operat29

Segment Data & Foreign Operations (Tables)	3 Months Ended
	Nov. 30, 2016
Export Sales and Foreign Operations
Summary of information about the Company's reportable segments	Three Months Ended November 30, 2016 2015 Revenue Industrial Materials $ $ Construction Materials Total $ $ Income before taxes Industrial Materials $ (a) $ (c) Construction Materials Total for reportable segments Corporate and common costs (b) Total $ $ Includes the following costs by segment: Industrial Materials Interest $ $ Depreciation Amortization Construction Materials Interest $ $ Depreciation Amortization (a) Includes $190 of expenses related to inventory step-up in fair value attributable to the September 2016 acquisition of certain assets of Resin Designs, LLC (b) Includes $584 in acquisition-related expenses attributable to the September 2016 acquisition of certain assets of Resin Designs, LLC, facility exit and demolition costs of $27 incurred during the quarter, relating to the Company’s Randolph, MA location and a $792 gain related to the November 2016 sale of the Company’s Paterson, NJ location (c) Includes both a $1,031 gain on sale of our RodPack wind energy business contained within our structural composites product line and a $365 write-down on certain other structural composites assets based on usage constraints following the sale, both recognized in November 2015 Total assets for the Company’s reportable segments as of November 30, 2016 and August 31, 2016 were: November 30, August 31, 2016 2016 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and common assets Total $ $ The Company’s products are sold worldwide. Revenue for the three-month periods ended November 30, 2016 and 2015 are attributed to operations located in in the following countries: Three Months Ended November 30, 2016 2015 Revenue United States $ $ United Kingdom All other foreign (1) Total $ $ (1) Inclusive of sales originated from our Paris, France location, royalty revenue attributable to our licensed manufacturer in Asia, and Chase foreign manufacturing operations.
Schedule of total assets for the Company's reportable segments	November 30, August 31, 2016 2016 Long-lived Assets United States Property, plant and equipment, net $ $ Goodwill and Intangible assets, less accumulated amortization United Kingdom Property, plant and equipment, net Goodwill and Intangible assets, less accumulated amortization All other foreign Property, plant and equipment, net Goodwill and Intangible assets, less accumulated amortization Total Property, plant and equipment, net $ $ Goodwill and Intangible assets, less accumulated amortization $ $

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Nov. 30, 2016
Goodwill and Other Intangibles
Schedule of changes in the carrying value of goodwill by operating segment	Industrial Construction Materials Consolidated Balance at August 31, 2016 $ $ $ Acquisition of Resin Designs, LLC — Foreign currency translation adjustment Balance at November 30, 2016 $ $ $
Schedule of intangible assets subject to amortization	Weighted Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value November 30, 2016 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ August 31, 2016 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $
Schedule of estimated amortization expense related to intangible assets	Years ending August 31, 2017 (remaining 9 months) $ 2018 2019 2020 2021 2022

Pensions and Other Post Retir31

Pensions and Other Post Retirement Benefits (Tables)	3 Months Ended
	Nov. 30, 2016
Pensions and Other Post Retirement Benefits
Schedule of components of net periodic benefit cost	Three Months Ended November 30, 2016 2015 Components of net periodic benefit cost Service cost $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of accumulated loss Net periodic benefit cost $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements
Schedule of financial assets that were accounted for at fair value on a recurring basis	Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Assets: Restricted investments November 30, 2016 $ $ — Restricted investments August 31, 2016 $ $ —
Schedule of fair values of the Company's long-term debt	Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Liabilities: Long-term debt November 30, 2016 $ $ — — Long-term debt August 31, 2016 $ $ — —

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Nov. 30, 2016
Accumulated Other Comprehensive Income
Schedule of components of accumulated other comprehensive income (loss)	Change in Funded Foreign Currency Restricted Status of Translation Investments Pension Plan Adjustment Total Balance at August 31, 2016 $ $ $ $ Other comprehensive gains (losses) before reclassifications (1) — Reclassifications to net income of previously deferred (gains) losses (2) — Other comprehensive income (loss) Balance at November 30, 2016 $ $ $ $ (1) Net of tax expense of $8, $0, $0, respectively. Net of tax expense of $1, tax benefit of $78, $0, respectively.
Summary of the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statements of income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended November 30, Location of Gain (Loss) Reclassified from Accumulated 2016 2015 Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: Realized gain on sale of restricted investments $ $ Selling, general and administrative expenses Tax expense (benefit) Gain net of tax $ $ Loss on Funded Pension Plan adjustments: Amortization of prior pension service costs and unrecognized losses $ $ Cost of products and services sold Amortization of prior pension service costs and unrecognized losses $ $ Selling, general and administrative expenses Tax expense (benefit) Loss net of tax $ $ Total net loss reclassified for the period $ $

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Nov. 30, 2016
Acquisition of Specialty Chemical Intermediates Product Lines
Schedule of allocation of acquisition cost to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values as of the date of the acquisition	Assets & Liabilities Amount Accounts receivable $ Inventory Prepaid expenses and other current assets Property, plant & equipment Goodwill Intangible assets Accounts payable and accrued liabilities Total purchase price $
Schedule of identifiable intangible assets purchased as part of business acquisition	Intangible Asset Amount Useful life Customer relationships $ years Technology years Trade names years Total intangible assets $
Schedule of pro forma information	Three Months Ended November 30, 2016 2015 Revenue $ $ Net income Net income available to common shareholders, per common and common equivalent share Basic earnings per share $ $ Diluted earnings per share $ $

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Nov. 30, 2016
Property plant and equipment assets held for sale
Summary of information about assets held for sale	Assets held for sale as of November 30, 2016 and August 31, 2016 were: November 30, 2016 August 31, 2016 Bridgewater, MA - Building and land $ $ — Randolph, MA - Property, plant and equipment (a) Paterson, NJ - Building and leasehold improvements (b) — Total $ $ (a) See Note 15 to the condensed consolidated financial statements for additional information on Randolph, MA location assets held for sale as of November 30, 2016 and August 31, 2016. (b) See Note 9 to the condensed consolidated financial statements for additional information on the sale of the Paterson, NJ location in the quarter ended November 30, 2016.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 23, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Accrued compensation and other expenses				$ (2,826)	$ (3,793)
Contingent purchase price paid for acquisition				30,435
Net proceeds from sale of business				229	1,500
Foreign currency translation gain (loss)				399	$ (96)
Resin Designs
Contingent purchase price paid for acquisition	$ 30,435
Acquisition related expenses				$ 584
Spray Products Private Limited
Purchase price		$ 1,161
RodPack Business
Net proceeds from sale of business			$ 2,186

Recent Accounting Standards (De

Recent Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Accounting Policies
Effective income tax rate	29.30%	36.00%	34.50%
Excess tax benefit	$ 794

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016
Inventories
Raw materials	$ 13,343	$ 12,879
Work in process	7,053	6,019
Finished goods	7,791	6,916
Total Inventories	$ 28,187	$ 25,814

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Basic Earnings per Share
Net Income	$ 10,363	$ 7,449
Less: Allocated to participating securities	113	67
Available to common shareholders	$ 10,250	$ 7,382
Basic weighted average shares outstanding	9,228,338	9,141,620
Net income per share - Basic (in dollars per share)	$ 1.11	$ 0.81
Diluted Earnings per Share
Net Income	$ 10,363	$ 7,449
Less: Allocated to participating securities	113	55
Net income available to common shareholders	$ 10,250	$ 7,394
Basic weighted average shares outstanding	9,228,338	9,141,620
Additional dilutive common stock equivalents (in shares)	92,664	141,050
Diluted weighted average shares outstanding	9,321,002	9,282,670
Net income per share - Diluted (in dollars per share)	$ 1.10	$ 0.80
Antidilutive securities
Antidilutive stock options excluded from computation of earnings per share amount (in shares)	38,591	31,485

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	Sep. 01, 2015shares	Aug. 31, 2016$ / sharesshares	Nov. 30, 2016item$ / sharesshares	Aug. 31, 2016$ / sharesshares
Time-based restricted stock | Executive officers
Stock Based Compensation
Cumulative shares granted		16,312
Time-based restricted stock | Executive officers | August 31, 2019 vesting date
Stock Based Compensation
Shares granted		7,768
Time-based restricted stock | Executive officers | August 31, 2021 vesting date
Stock Based Compensation
Shares granted		8,544
Stock options | Executive officers | August 31, 2019 vesting date
Stock Based Compensation
Weighted Average Exercise Price (in dollars per share) | $ / shares		$ 64.37		$ 64.37
Shares authorized		23,563		23,563
RSU | Non-executive members of management | August 31, 2021 vesting date
Stock Based Compensation
Shares granted				8,805
2015 LTIP | Performance and service based restricted stock | Executive officers
Stock Based Compensation
Shares granted			6,277
Cumulative shares granted			13,239
2015 LTIP | Performance and service based restricted stock | Executive officers | August 31, 2017 vesting date
Stock Based Compensation
Shares granted	6,962
2017 LTIP | Performance and service based restricted stock | Executive officers and other members of management | August 31, 2018 vesting date
Stock Based Compensation
Shares granted			5,399
2017 LTIP | Time-based restricted stock | Executive officers and other members of management | August 31, 2018 vesting date
Stock Based Compensation
Shares granted			5,367
2017 LTIP | Stock options | Executive officers and other members of management
Stock Based Compensation
Number Options Outstanding (in shares)			15,028
Weighted Average Exercise Price (in dollars per share) | $ / shares			$ 64.37
Number of equal annual allotments in which awards will vest | item			3
Stock options expiring on August 31, 2026 (in shares)			5,596
Stock options expiring on September 1, 2026 (in shares)			9,432

Segment Data and Foreign Operat

Segment Data and Foreign Operations (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)segment	Nov. 30, 2015USD ($)	Aug. 31, 2016USD ($)
Segment data
Number of operating segments | segment	2
Revenue	$ 61,357	$ 57,478
Income before income taxes	14,650	11,636
Total assets	265,490		$ 262,819
Interest	246	250
Depreciation	1,335	1,473
Amortization	2,176	1,916
Cost of sale of inventory step-up	190
Gain on sale of business		1,031
Asset Impairment Charges		365
RodPack Business
Segment data
Gain on sale of business		1,031
Asset Impairment Charges		365
Industrial Materials
Segment data
Revenue	49,024	43,299
Income before income taxes	16,415	12,929
Total assets	165,172		136,003
Interest	184	187
Depreciation	1,062	991
Amortization	1,862	1,560
Asset Impairment Charges		365
Industrial Materials | Resin Designs
Segment data
Cost of sale of inventory step-up	190
Construction Materials
Segment data
Revenue	12,333	14,179
Income before income taxes	5,150	5,455
Total assets	38,095		38,983
Interest	62	63
Depreciation	158	264
Amortization	314	356
Reportable segments
Segment data
Income before income taxes	21,565	18,384
Total assets	203,267		174,986
Corporate and common costs
Segment data
Income before income taxes	(6,915)	$ (6,748)
Total assets	62,223		$ 87,833
Corporate and common costs | Resin Designs
Segment data
Acquisition related expenses	584
Corporate and common costs | Paterson NJ
Segment data
Gain on sale of business	792
Corporate and common costs | Randolph MA
Segment data
Plant closing expenses	$ 27

Segment Data & Foreign Operat42

Segment Data & Foreign Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Concentration risk
Revenues	$ 61,357	$ 57,478
Long-lived assets	35,909		$ 36,742
Goodwill and intangible assets	104,678		80,156
United States
Concentration risk
Revenues	51,808	48,412
Long-lived assets	31,588		32,176
Goodwill and intangible assets	97,690		72,653
United Kingdom
Concentration risk
Revenues	4,759	5,165
Long-lived assets	2,986		3,214
Goodwill and intangible assets	5,824		6,270
All other Foreign
Concentration risk
Revenues	4,790	$ 3,901
Long-lived assets	1,335		1,352
Goodwill and intangible assets	$ 1,164		$ 1,233

Goodwill and Other Intangible43

Goodwill and Other Intangibles - Segments (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)segment
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 43,576
Acquisition	7,592
Foreign currency translation adjustment	(235)
Balance at the end of the period	$ 50,933
Number of reportable segments | segment	11
Number of operating segments | segment	2
Construction Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 10,696
Foreign currency translation adjustment	(10)
Balance at the end of the period	10,686
Industrial Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period	32,880
Acquisition	7,592
Foreign currency translation adjustment	(225)
Balance at the end of the period	$ 40,247

Goodwill and Other Intangible44

Goodwill and Other Intangibles - By Class (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Goodwill and intangible assets
Gross Carrying Value	$ 88,857		$ 69,932
Accumulated Amortization	35,112		33,352
Net Carrying Value	53,745		$ 36,580
Aggregate amortization expense	2,176	$ 1,916
Prepaid patent costs capitalized	(14)
Estimated amortization expense
2017 (remaining 9 months)	6,915
2,018	9,122
2,019	8,429
2,020	7,565
2,021	7,029
2,022	$ 6,159
Patents and agreements
Goodwill and intangible assets
Weighted-Average Amortization Period	14 years 6 months		14 years 6 months
Gross Carrying Value	$ 1,820		$ 1,805
Accumulated Amortization	1,665		1,663
Net Carrying Value	$ 155		$ 142
Formulas and technology
Goodwill and intangible assets
Weighted-Average Amortization Period	7 years 10 months 24 days		8 years 4 months 24 days
Gross Carrying Value	$ 9,401		$ 8,248
Accumulated Amortization	4,548		4,310
Net Carrying Value	$ 4,853		$ 3,938
Trade names
Goodwill and intangible assets
Weighted-Average Amortization Period	6 years		5 years 10 months 24 days
Gross Carrying Value	$ 7,847		$ 7,137
Accumulated Amortization	5,127		4,909
Net Carrying Value	$ 2,720		$ 2,228
Customer lists and relationships
Goodwill and intangible assets
Weighted-Average Amortization Period	9 years 7 months 6 days		9 years 4 months 24 days
Gross Carrying Value	$ 69,789		$ 52,742
Accumulated Amortization	23,772		22,470
Net Carrying Value	$ 46,017		$ 30,272

Sale of RodPack Business (Detai

Sale of RodPack Business (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)installment	May 31, 2016USD ($)installment	Nov. 30, 2015USD ($)
Sale of RodPack Business
Proceeds from Sale of Discontinued Operations	$ 229		$ 1,500
Acquisition related costs (Note 14)			365
RodPack Business
Sale of RodPack Business
Proceeds from Sale of Discontinued Operations	$ 229	$ 229	2,186
Pre-tax book gain from the sale of property and assets			1,031
Number of installments | installment	2	2
Acquisition related costs (Note 14)			$ 365

Sale of Paterson, NJ Location (

Sale of Paterson, NJ Location (Details) - Paterson NJ $ in Thousands	3 Months Ended
	Nov. 30, 2016USD ($)
Assets held for sale
Proceeds from the sale of property	$ 1,382
Gain on sale of assets	$ 792

Pensions and Other Post-Retirem

Pensions and Other Post-Retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Components of net periodic benefit cost
Service cost	$ 72	$ 74
Interest cost	170	182
Expected return on plan assets	(132)	(129)
Amortization of prior service cost	1	1
Amortization of accumulated loss	224	143
Net periodic benefit cost	335	271
Employer contribution	$ 21	$ 77

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring basis - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016
Fair value measurements
Restricted investments	$ 1,707	$ 1,637
Long-term debt	41,300	43,400
Quoted prices in active markets (Level 1)
Fair value measurements
Restricted investments	1,688	1,610
Significant other observable inputs (Level 2)
Fair value measurements
Restricted investments	19	27
Long-term debt	$ 41,300	$ 43,400

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Accumulated other comprehensive income
Balance at the beginning of the period	$ (15,479)
Other comprehensive gains (losses) before reclassifications	(2,084)
Reclassifications to net income of previously deferred (gains) losses	146
Total other comprehensive (loss) income	(1,938)	$ (893)
Balance at the ending of the period	(17,417)
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax Before Reclassifications	8
Change in funded status of pension plan, other comprehensive gains (losses) before reclassifications, tax benefit	0
Foreign currency translation adjustment, other comprehensive gains (losses) before reclassifications, tax benefit	0
Restricted investments, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit	1
Change in funded status of pension plan, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit	78
Foreign currency translation adjustment, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit	0
Restricted investments
Accumulated other comprehensive income
Balance at the beginning of the period	54
Other comprehensive gains (losses) before reclassifications	14
Reclassifications to net income of previously deferred (gains) losses	(1)
Total other comprehensive (loss) income	13
Balance at the ending of the period	67
Change in funded status of pension plan
Accumulated other comprehensive income
Balance at the beginning of the period	(7,336)
Reclassifications to net income of previously deferred (gains) losses	147
Total other comprehensive (loss) income	147
Balance at the ending of the period	(7,189)
Foreign currency translation adjustment
Accumulated other comprehensive income
Balance at the beginning of the period	(8,197)
Other comprehensive gains (losses) before reclassifications	(2,098)
Total other comprehensive (loss) income	(2,098)
Balance at the ending of the period	$ (10,295)

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Accumulated other comprehensive income
Selling, general and administrative expenses	$ (11,752)	$ (11,510)
Cost of products and services sold	(35,289)	(34,717)
Tax expense (benefit)	(4,287)	(4,187)
Net income	10,363	7,449
Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Net income	146	93
Restricted investments | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	(2)	(2)
Tax expense (benefit)	1	1
Net income	(1)	(1)
Change in funded status of pension plan | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	199	139
Cost of products and services sold	26	6
Tax expense (benefit)	(78)	(51)
Net income	$ 147	$ 94

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 23, 2016	Nov. 30, 2016	Aug. 31, 2016
Acquisitions
Acquisition related costs (Note 14)			$ 584
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Goodwill			50,933	$ 43,576
Henkel Corporation ( Seller)
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Accounts receivable			1,877
Inventory			1,300
Prepaid expenses and other current assets			228
Property, plant & equipment			623
Goodwill			7,592
Intangible assets			19,450
Accounts payable and accrued expenses			(635)
Total purchase price			30,435
Henkel Corporation ( Seller) | Selling, General and Administrative Expenses
Acquisitions
Acquisition related costs (Note 14)			584
Resin Designs
Acquisitions
Purchase price	$ 30,435
Industrial Materials
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Goodwill			40,247	$ 32,880
Industrial Materials | Spray Products Private Limited
Acquisitions
Purchase price		$ 1,161
Industrial Materials | Resin Designs
Acquisitions
Acquisition related costs (Note 14)			$ 584

Acquisitions - By Acquiree (Det

Acquisitions - By Acquiree (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2016	Nov. 30, 2015
Pro Forma Information
Acquisition related costs (Note 14)		$ 584
Net income		10,363	$ 7,449
Henkel Corporation ( Seller)
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 19,450	$ 19,450
Pro Forma Information
Statutory tax rate (as a percent)		35.00%
Revenue		$ 62,942	60,381
Net income		$ 11,034	$ 6,905
Net income available to common shareholders, per common and common equivalent share
Basic earnings per share (in dollars per share)		$ 1.18	$ 0.75
Diluted earning per share (in dollars per share)		$ 1.17	$ 0.74
Henkel Corporation ( Seller) | Customer Relationships
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	17,500	$ 17,500
Useful life		10 years
Henkel Corporation ( Seller) | Technology
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	1,200	$ 1,200
Useful life		4 years
Henkel Corporation ( Seller) | Trade names
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	750	$ 750
Useful life		7 years
Specialty chemical intermediates product line
Pro Forma Information
Revenue since acquisition date	2,619
Net gain since acquisition date	(237)
Acquisition related costs (Note 14)	584
Inventory step-up costs	$ 190

Exit Costs Related to Idle Fa53

Exit Costs Related to Idle Facility (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Aug. 31, 2017	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Exit Costs Related to Idle Facility
Acquisition related costs (Note 14)			$ 365
Business Exit Costs		$ 27
Forecast
Exit Costs Related to Idle Facility
Business Exit Costs	$ 100
Randolph MA
Exit Costs Related to Idle Facility
Business Exit Costs				$ 935

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2016	Nov. 30, 2016	Aug. 31, 2016
Assets held for sale
Assets Held for sale		$ 686	$ 604
Bridgewater MA
Assets held for sale
Sales price of assets sold	$ 740
Gain on assets sold	68
Subsequent event | Bridgewater MA
Assets held for sale
Sales price of assets sold	740
Gain on assets sold	$ 68
Property, Plant, and Equipment | Randolph MA
Assets held for sale
Assets Held for sale		672
Property, Plant, and Equipment | RodPack Business
Assets held for sale
Assets Held for sale		$ 14	14
Patents And Other Intangible Assets | RodPack Business
Assets held for sale
Assets Held for sale			$ 590

Related Party Agreements (Detai

Related Party Agreements (Details) $ in Thousands	1 Months Ended		3 Months Ended
	Dec. 31, 2016USD ($)individual	Sep. 30, 2016USD ($)	Nov. 30, 2016USD ($)policy	Aug. 31, 2016USD ($)policy
Related party transactions
Proceeds from settlement of CSV life insurance policies			$ 1,504
Original book value			88,857	$ 69,932
Net book value			$ 53,745	36,580
John Hancock (formerly Manufacturers' Life Insurance Company)
Related party transactions
Proceeds from settlement of CSV life insurance policies				$ 1,238
Metropolitan Life Insurance
Related party transactions
Proceeds from settlement of CSV life insurance policies		$ 1,504
Trust
Related party transactions
Number of insurance policies | policy			2	2
Trust | Minimum
Related party transactions
Ownership interest (as a percent)			5.00%
Bridgewater MA | Subsequent event
Related party transactions
Number of board members | individual	2
Proceeds from sale	$ 740
Gain on Sale of Investments	$ 68

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Dec. 15, 2016USD ($)	Dec. 31, 2016USD ($)
New Credit Agreement | NEPTCO | Subsequent event
Subsequent Event [Line Items]
Term of debt	5 years
Maximum borrowing capacity	$ 150,000
Additional borrowing capacity	$ 50,000
New Credit Agreement | NEPTCO | Subsequent event | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Interest payment due	3 months
Minimum | New Credit Agreement | NEPTCO | Subsequent event
Subsequent Event [Line Items]
Consolidated fixed charge coverage ratio	1.25
Minimum | New Credit Agreement | NEPTCO | Subsequent event | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Interest rate margin on variable rate basis (as a percent)	1.00%
Maximum | New Credit Agreement | NEPTCO | Subsequent event
Subsequent Event [Line Items]
Net leverage ratio	3.25
Maximum | New Credit Agreement | NEPTCO | Subsequent event | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Interest rate margin on variable rate basis (as a percent)	1.75%
Bridgewater MA
Subsequent Event [Line Items]
Sales price of assets sold		$ 740
Gain on assets sold		68
Bridgewater MA | Subsequent event
Subsequent Event [Line Items]
Sales price of assets sold		740
Gain on assets sold		$ 68