Servotronics (SVT) 10-Q 12 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'SERVOTRONICS INC /DE/	'
Entity Central Index Key	'0000089140	'
Trading Symbol	'svt	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	2,494,043
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$4,998	$5,573
Accounts receivable, net	5,438	4,858
Inventories, net	11,933	11,213
Prepaid income taxes	19	387
Deferred income taxes	655	655
Other assets	563	306
Total current assets	23,606	22,992
Property, plant and equipment, net	6,588	5,946
Other non-current assets	351	365
Total Assets	30,545	29,303
Current liabilities:	'	'
Current portion of long-term debt	192	192
Accounts payable	1,463	1,051
Accrued employee compensation and benefit costs	1,863	1,422
Other accrued liabilities	275	389
Total current liabilities	3,793	3,054
Long-term debt	2,647	2,663
Deferred income taxes	320	320
Commitments and contingencies (See Note 10)	'	'
Shareholders' equity:	'	'
Common stock, par value $.20; authorized 4,000,000 shares; issued 2,614,506 shares; outstanding 2,293,614 (2,157,920 - 2012) shares	523	523
Capital in excess of par value	14,008	13,987
Retained earnings	12,366	11,771
Accumulated other comprehensive loss	-85	-85
Employee stock ownership trust commitment	-1,165	-1,165
Treasury stock, at cost 105,678 (241,372 - 2012) shares	-1,862	-1,765
Total shareholders' equity	23,785	23,266
Total Liabilities and Shareholders' Equity	$30,545	$29,303

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.20	$0.20
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	2,614,506	2,614,506
Common stock, shares outstanding	2,293,614	2,157,920
Treasury stock, shares	105,678	241,372

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]	'	'	'	'
Revenue	$7,727	$7,516	$23,136	$23,302
Costs, expenses and other income:	'	'	'	'
Cost of goods sold, exclusive of depreciation and amortization	5,594	5,536	17,164	17,081
Selling, general and administrative	1,506	1,275	4,140	3,753
Interest expense	10	11	31	34
Depreciation and amortization	152	141	460	437
Other income, net	-44	-2	-45	-12
Total expenses	7,218	6,961	21,750	21,293
Income from continuing operations before income tax provision	509	555	1,386	2,009
Income tax provision	151	249	347	663
Income from continuing operations	358	306	1,039	1,346
Discontinued Operations:	'	'	'	'
Loss from operations of a discontinued component, net of income tax benefit	'	-188	'	-591
Loss on disposal of QCC and AMP, net of income tax benefit	'	-262	'	-530
Loss from discontinued operations	'	-450	'	-1,121
Net income (loss)	$358	($144)	$1,039	$225
Basic	'	'	'	'
Income per share from continuing operations (in dollars per share)	$0.16	$0.14	$0.46	$0.63
Loss per share from discontinued operations (in dollars per share)	'	($0.21)	'	($0.53)
Total net income (loss) per share (in dollars per share)	$0.16	($0.07)	$0.46	$0.10
Diluted	'	'	'	'
Income per share from continuing operations (in dollars per share)	$0.16	$0.14	$0.46	$0.63
Loss per share from discontinued operations (in dollars per share)	'	($0.21)	'	($0.52)
Total net income (loss) per share (in dollars per share)	$0.16	($0.07)	$0.46	$0.11

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement Of Income and Comprehensive Income [Abstract]	'	'	'	'
Net income (loss)	$358	($144)	$1,039	$225
Other comprehensive income:	'	'	'	'
Retirement benefits adjustment	'	'	'	'
Total comprehensive income (loss)	$358	($144)	$1,039	$225

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows related to operating activities:	'	'
Net income	$1,039	$225
Adjustments to reconcile net income to net cash generated in operating activities:	'	'
Depreciation and amortization	460	484
Loss on disposal of QCC and AMP, net of income tax benefit	'	530
Stock based compensation	165	'
(Decrease) increase in inventory reserve	-45	59
(Decrease) increase in allowance for doubtful accounts	-27	33
Gain on disposal of property and equipment	-22	-9
Change in assets and liabilities:	'	'
Accounts receivable	-553	636
Inventories	-675	-1,106
Prepaid income taxes	389	101
Other assets	-257	-222
Other non-current assets	14	-24
Accounts payable	412	-446
Accrued employee compensation and benefit costs	443	196
Other accrued liabilities	-114	152
Net cash generated from operating activities	1,229	609
Cash flows related to investing activities:	'	'
Capital expenditures - property, plant and equipment	-1,124	-394
Proceeds from the sale of Queen Cutlery	'	640
Proceeds from sale of assets	43	'
Net cash (used) generated from investing activities	-1,081	246
Cash flows related to financing activities:	'	'
Principal payments on long-term debt	-16	-29
Proceeds from exercise of stock options	70	234
Principal payments on capital lease related party	'	-41
Purchase of treasury shares	-371	-62
Cash dividend	-406	-358
Net cash used in financing activities	-723	-256
Net (decrease) increase in cash and cash equivalents	-575	599
Cash and cash equivalents at beginning of period	5,573	4,948
Cash and cash equivalents at end of period	$4,998	$5,547

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Basis of Presentation	'
	1	Basis of Presentation
		The accompanying unaudited consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.
		The accompanying consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The consolidated financial statements should be read in conjunction with the 2012 annual report and the notes thereto.

Business_Description_and_Summa

Business Description and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Business Description and Summary Of Significant Accounting Policies [Abstract]	'
Business Description and Summary of Significant Accounting Policies	'
	2	Business Description and Summary of Significant Accounting Policies
		Business Description
		Servotronics, Inc. and its subsidiaries design, manufacture and market advanced technology products consisting primarily of control components and consumer products consisting of knives and various types of cutlery and other edged products.
		Principles of Consolidation
		The consolidated financial statements include the accounts of Servotronics, Inc. and its wholly-owned subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated upon consolidation.
		Cash and Cash Equivalents
		The Company considers cash and cash equivalents to include all cash accounts and short-term investments purchased with an original maturity of three months or less.
		Accounts Receivable
		The Company grants credit to substantially all of its customers and carries its accounts receivable at original invoice amount less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on history of past write-offs, collections, and current credit conditions. The allowance for doubtful accounts amounted to approximately $103,000 at September 30, 2013 and $130,000 at December 31, 2012. The Company does not accrue interest on past due receivables.
		Revenue Recognition
		Revenues are recognized as services are rendered or as units are shipped and at the designated FOB point consistent with the transfer of title, risks and rewards of ownership. Such purchase orders generally include specific terms relative to quantity, item description, specifications, price, customer responsibility for in-process costs, delivery schedule, shipping point, payment and other standard terms and conditions of purchase.
		Inventories
		Inventories are stated at the lower of standard cost or net realizable value. Cost includes all costs incurred to bring each product to its present location and condition. Market provisions in respect of lower of cost or market adjustments and inventory expected to be used in greater than one year are applied to the gross value of the inventory through a reserve of approximately $733,000 and $778,000 at September 30, 2013 and December 31, 2012, respectively. Pre-production and start-up costs are expensed as incurred.
		The purchase of suppliers’ minimum economic quantities of material such as steel, etc. may result in a purchase of quantities exceeding one year of customer requirements. Also, in order to maintain a reasonable and/or agreed to lead time, certain larger quantities of other product support items may have to be purchased and may result in over one year’s supply.
		Shipping and Handling Costs
		Shipping and handling costs are classified as a component of cost of goods sold.
		Property, Plant and Equipment
		Property, plant and equipment is carried at cost; expenditures for new facilities and equipment and expenditures which substantially increase the useful lives of existing plant and equipment are capitalized; expenditures for maintenance and repairs are expensed as incurred. Upon disposal of properties, the related cost and accumulated depreciation are removed from the respective accounts and any profit or loss on disposition is included in income.
		Depreciation is provided on the basis of estimated useful lives of depreciable properties, primarily by the straight-line method for financial statement purposes and by accelerated methods for tax purposes. Depreciation expense includes the amortization of capital lease assets. The estimated useful lives of depreciable properties are generally as follows:
	Buildings and improvements		5-39 years
	Machinery and equipment		5-20 years
	Tooling		3-5 years
		Income Taxes
		The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of operating loss and credit carryforwards and temporary differences between the carrying amounts and the tax basis of assets and liabilities. The Company and its subsidiaries file a consolidated federal income tax return, combined New York and Texas state income tax returns and separate Pennsylvania and Arkansas state income tax returns.
		The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company did not have any accrued interest or penalties included in its consolidated balance sheets at September 30, 2013 or December 31, 2012, and did not recognize any interest and/or penalties in its consolidated statements of income during the three and nine months ended September 30, 2013 and 2012.
		The 2010 through 2012 Federal and state returns remain open under statute.
		Supplemental Cash Flow Information
		Income taxes paid during the three months ended September 30, 2013 and 2012 amounted to approximately $136,000 and zero, respectively, and amounted to approximately $136,000 and $256,000 for the nine months ended September 30, 2013 and 2012, respectively. Interest paid during the three months ended September 30, 2013 and 2012 amounted to approximately $10,000 and $12,000, respectively, and amounted to $31,000 and $38,000 for the nine months ended September 30, 2013 and 2012, respectively. In the first quarter of 2013, the Company reduced its tax liability by approximately $21,000 related to the exercise of stock options and was credited directly to capital in excess of par value.
		Employee Stock Ownership Plan
		Contributions to the employee stock ownership plan are determined annually by the Company according to plan formula.
		Impairment of Long-Lived Assets
		The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate, or at least annually, that the carrying amount of the assets may not be fully recoverable based on undiscounted future operating cash flow analyses. If an impairment is determined to exist, any related impairment loss is calculated based on fair value. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal. The Company has determined that no impairment of long-lived assets existed at September 30, 2013 and December 31, 2012.
		Use of Estimates
		The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
		Reclassifications
		Certain balances as previously reported were reclassified to conform with classifications adopted in the current period.
		Research and Development Costs
		Research and development costs are expensed as incurred.
		Concentration of Credit Risks
		Financial instruments that potentially subject the Company to concentration of credit risks principally consist of cash accounts in financial institutions. Although the accounts exceed the federally insured deposit amount, management does not anticipate nonperformance by the financial institutions. Refer to Note 12, Business Segments, for disclosures related to customer concentrations.
		Fair Value of Financial Instruments
		The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are reasonable estimates of their fair value due to their short maturity. Based on variable interest rates and the borrowing rates currently available to the Company for loans similar to its long-term debt, the fair value approximates its carrying amount.

Discontinued_Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2013
Discontinued Operations [Abstract]	'
Discontinued Operations	'
	3	Discontinued Operations
		During the second quarter of 2012, the Company committed to a plan to enhance profit margins through the expected sale of a component. On September 18, 2012, Queen Cutlery Company (QCC), a wholly owned subsidiary of Servotronics Inc., completed the disposition of substantially all of its assets for cash consideration of $650,000. QCC is accounted for as a discontinued operation in the accompanying consolidated financial statements. During the three and nine months ended September 30, 2013 there was no loss from discontinued operations related to QCC. A loss before income taxes of approximately $116,000 and $358,000 from discontinued operations was reported for the same three and nine month periods in 2012.
		On July 23, 2012, Aero Metal Products, Inc. (“AMP”), a wholly owned subsidiary of Servotronics, Inc., gave notice of termination of a personal property capital lease for machinery and equipment previously reported under a $588,000 capital lease with a related party. Due to the termination, beginning in July 2012, this lease is accounted for as an operating lease rather than a capital lease for the remaining term and the related assets and liabilities were removed from the consolidated balance sheet. In the third quarter of 2012, AMP ceased all manufacturing operations and in the fourth quarter of 2012, the Company surrendered all assets under the personal property and real property lease to the lessor, Aero Inc., a previously reported related party. During the three and nine months ended September 30, 2013, there was no loss from discontinued operations related to AMP. A loss before income taxes of approximately $169,000 and $537,000 from discontinued operations was reported for the same three and nine month periods in 2012.
		The following is a summary of discontinued operations:
			Three Months Ended					Nine Months Ended
			September 30,					September 30,
			2013		2012			2013		2012
			($000’s omitted)
	Discontinued operations:
	Revenue of QCC and AMP		$	-	$	221		$	-	$	899
	Loss from operations of QCC and AMP		$	-	$	(285	)	$	-	$	(895	)
	Income tax benefit			-		97			-		304
	Net loss from operations of QCC and AMP			-		(188	)		-		(591	)
	Loss on disposal of QCC and AMP			-		(397	)		-		(804	)
	Income tax benefit			-		135			-		274
	Net loss on disposal of QCC and AMP			-		(262	)		-		(530	)
	Loss from discontinued operations		$	-	$	(450	)	$	-	$	(1,121	)

Inventories

Inventories	9 Months Ended
	Sep. 30, 2013
Inventory Disclosure [Abstract]	'
Inventories	'
	4	Inventories
			September 30,		December 31,
			2013		2012
			($000’s omitted)
	Raw materials and common parts		$	6,160	$	6,189
	Work-in-process			3,258		2,460
	Finished goods			2,515		2,564
	Total inventories, net of reserve		$	11,933	$	11,213

Property_Plant_and_Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment	'
	5	Property, Plant and Equipment
			September 30,			December 31,
			2013			2012
			($000’s omitted)
	Land		$	21		$	21
	Buildings			7,876			7,256
	Machinery, equipment and tooling			12,794			12,370
				20,691			19,647
	Less accumulated depreciation and amortization			(14,103	)		(13,701	)
	Total property, plant and equipment		$	6,588		$	5,946
		Property, plant and equipment includes land and building in Elma, New York, under a $5,000,000 capital lease which can be purchased for a nominal amount at the end of the lease term. As of September 30, 2013 and December 31, 2012, accumulated amortization on the building amounted to approximately $2,649,000 and $2,552,000, respectively. Amortization expense amounted to $32,000 and $33,000 for the three month periods ended September 30, 2013 and 2012, respectively, and amounted to $97,000 for the nine month periods ended September 30, 2013 and 2012, respectively. The associated current and long-term liabilities are discussed in Note 6, Long-Term Debt, of the accompanying consolidated financial statements.
		On July 23, 2012, the Company gave notice of termination of a capital lease for machinery and equipment previously reported under a $588,000 capital lease with a related party. Due to the termination, beginning in July 2012, this lease was accounted for as an operating lease rather than a capital lease for the remaining term and the related assets and liabilities were removed from the consolidated balance sheet. See also, Note 7, Capital Lease – Related Party, of the accompanying consolidated financial statements for more information. Amortization expense related to the capital lease related party, included in the loss from operations of a discontinued component, net of tax, amounted to zero for the three month periods ended September 30, 2013 and 2012, respectively, and amounted to approximately zero and $42,000 for the nine month periods ended September 30, 2013 and 2012, respectively.
		Depreciation expense from continuing operations amounted to $117,000 and $107,000 for the three month periods ended September 30, 2013 and 2012, respectively, and amounted to $355,000 and $334,000 for the nine month periods ended September 30, 2013 and 2012, respectively. The combined depreciation and amortization expense from continuing operations amounted to $152,000 and $141,000 for the three month periods ended September 30, 2013 and 2012, respectively, and amounted to $460,000 and $437,000 for the nine month periods ended September 30, 2013 and 2012, respectively. The Company believes that it maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.
		As of September 30, 2013, there is approximately $121,000 of construction in progress included in property, plant and equipment related to an anticipated facility expansion and renovation project at the Consumer Products Group. There are currently no other material commitments for this project. At December 31, 2012 there was approximately $290,000 of construction in progress related to a previously reported facility expansion at the Company’s Advanced Technology Group. These amounts along with amounts incurred during 2013 were placed in service in the third quarter ended September 30, 2013.

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Long-Term Debt	'
	6	Long-Term Debt
			September 30,			December 31,
			2013			2012
			($000’s omitted)
	Industrial Development Revenue Bonds; secured by an equivalent letter of credit from a bank with interest payable monthly at a floating rate (0.32% at September 30, 2013) (A)		$	2,790		$	2,790
	Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015			49			65
				2,839			2,855
	Less current portion			(192	)		(192	)
			$	2,647		$	2,663
	(A)	The Industrial Development Revenue Bonds were issued by a government agency to finance the construction of the Company’s headquarters/advanced technology facility. Annual sinking fund payments of $170,000 commenced December 1, 2000 and continue through 2013, with a final payment of $2,620,000 due December 1, 2014. The Company has agreed to reimburse the issuer of the letter of credit if there are draws on that letter of credit. The Company pays the letter of credit bank an annual fee of 1% of the amount secured thereby and pays the remarketing agent for the bonds an annual fee of 1/4% of the principal amount outstanding. The Company’s interest under the facility capital lease has been pledged to secure its obligations to the government agency, the bank and the bondholders.
		The Company has an unsecured $2,000,000 line of credit on which there was no balance outstanding at September 30, 2013 or December 31, 2012.
		Certain lenders require the Company to comply with debt covenants as described in the specific loan documents, including a debt service ratio. At September 30, 2013 and December 31, 2012, the Company was in compliance with its debt covenants.

Capital_Lease_Related_Party

Capital Lease- Related Party	9 Months Ended
	Sep. 30, 2013
Leases [Abstract]	'
Capital Lease- Related Party	'
	7	Capital Lease – Related Party
		On November 3, 2009, the Company entered into a capital lease with a related party (Aero, Inc.) of the Company for certain personal property. Monthly payments of $7,500 which include an imputed fixed interest rate of 2.00% commenced November 3, 2009 through the fourth quarter of 2016.
		On July 23, 2012, the Company gave twelve months notice of termination of this lease. There was no material gain or loss associated with the cancellation of such agreement. Due to the termination, beginning in July 2012, this lease was accounted for as an operating lease rather than a capital lease for the remaining term and the related assets and liabilities were removed from the consolidated balance sheet. The Company has accrued for the remaining balances payable on the accompanying September 30, 2013 consolidated financial statements, see Note 10, Commitments and Contingencies, regarding pending litigation related to the lease termination. The termination relates to discontinued operations as discussed in Note 3, Discontinued Operations, of the accompanying consolidated financial statements. There are no other future obligations under this lease.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	8	Income Taxes
		The Company did not have any material uncertain tax positions or unrecognized tax benefits or obligations as of September 30, 2013 and December 31, 2012. The Company recorded a tax benefit of approximately $40,000 in the first quarter of 2013 to reflect the research and development tax credit re-enactment related to fiscal 2012. The Company and its subsidiaries file a consolidated federal income tax return, combined New York and Texas state income tax returns and separate Pennsylvania and Arkansas state income tax returns.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Shareholders' Equity	'
	9	Shareholders’ Equity
			($000’s omitted except for share data)
			Common stock																Accumulated Other Comprehensive Loss
			Number		Amount			Capital in		Retained earnings			ESOP			Treasury Stock						Total Shareholders’ Equity
			of shares issued					excess of
								par value
	Balance December 31, 2012			2,614,506	$	523		$	13,987	$	11,771		$	(1,165	)	$	(1,765	)	$	(85	)	$	23,266
	Net income			-		-			-		1,039			-			-			-			1,039
	Purchase of treasury shares			-		-			-		-			-			(371	)		-			(371	)
	Cash dividend			-		-			-		(406	)		-			-			-			(406	)
	Stock based compensation			-		-			-		-			-			165			-			165
	Exercise of stock options, net of tax benefit			-		-			21		(38	)		-			109			-			92
	Balance September 30, 2013			2,614,506	$	523		$	14,008	$	12,366		$	(1,165	)	$	(1,862	)	$	(85	)	$	23,785
		In January 2006, the Board of Directors authorized the purchase of up to 250,000 shares of the Company’s outstanding common stock in the open market or in privately negotiated transactions. On October 31, 2008, the Company announced that its Board of Directors authorized the purchase of an additional 200,000 shares of the Company’s common stock under the Company’s current purchase program. As of September 30, 2013, the Company has purchased 296,131 shares and there remain 153,869 shares available to purchase under this program. There were 44,306 shares purchased by the Company during the nine month period ended September 30, 2013. Subsequent to quarter end there were 14,785 shares purchased by the Company through October 31, 2013 for approximately $130,000.
		In the first quarter of 2013 certain option holders elected to exercise 15,000 options. These shares were issued out of treasury stock for net proceeds of approximately $70,000. Such transactions were properly reported on Form 4 with the Securities and Exchange Commission. A tax benefit to the Company of approximately $21,000 associated with these transactions reduced taxes payable and was credited directly to capital in excess of par value.
		On April 18, 2013, the Company issued 165,000 shares of restricted stock to Executive Officers of the Company under the Company’s 2012 Long-Term Incentive Plan that was approved by the shareholders at the 2012 Annual Meeting of Shareholders. The restricted share awards vest over four year periods between January 2014 and January 2017; however, have voting rights and accrue dividends prior to vesting. The aggregate amount of expense to the Company, measured based on grant date fair value is expected to be $1,336,500 and will be recognized over the four year requisite service period. Included in the three and nine months ended September 30, 2013 is $90,000 and $165,000, respectively, of compensation expense related to the restrictive share awards.
		On May 28, 2013 the Company announced that its Board of Directors declared a $0.16 per share cash dividend. The dividend was subsequently paid on July 15, 2013 to shareholders of record on June 24, 2013 and was approximately $406,000 in the aggregate. These dividends do not represent that the Company will pay dividends on a regular or scheduled basis.
		Earnings Per Share
		Basic earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding during the period plus the number of shares of common stock that would be issued assuming all contingently issuable shares having a dilutive effect on the earnings per share that were outstanding for the period. Incremental shares from assumed conversions are calculated as the number of shares that would be issued, net of the number of shares that could be purchased in the marketplace with the cash received upon stock option exercise.
			Three Months Ended					Nine Months Ended
			September 30,					September 30,
			2013		2012			2013		2012
			($000’s omitted except per share data)
	Income from continuing operations		$	358	$	306		$	1,039	$	1,346
	Loss from discontinued operations			-		(450	)		-		(1,121	)
	Net income (loss)		$	358	$	(144	)	$	1,039	$	225
	Weighted average common shares outstanding (basic)			2,305		2,146			2,259		2,125
	Incremental shares from assumed conversions of stock options			-		6			1		19
	Weighted average common shares outstanding (diluted)			2,305		2,152			2,260		2,144
	Basic
	Income per share from continuing operations		$	0.16	$	0.14		$	0.46	$	0.63
	Loss per share from discontinued operations			-		(0.21	)		-		(0.53	)
	Total net income (loss) per share		$	0.16	$	(0.07	)	$	0.46	$	0.1
	Diluted
	Income per share from continuing operations		$	0.16	$	0.14		$	0.46	$	0.63
	Loss per share from discontinued operations			-		(0.21	)		-		(0.52	)
	Total net income (loss) per share		$	0.16	$	(0.07	)	$	0.46	$	0.11

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	10	Commitments and Contingencies
		The Company has a contingent liability related to the termination of an employment agreement for a former Executive Officer of the Company, effective September 29, 2012. The Company is unable to reasonably or accurately estimate the amount of the liability at this time. Under the terms of the agreement, management estimates that the compensation in the form of future medical benefits and severance payments could result in additional liabilities as high as approximately $1,400,000. The Company is disputing these amounts through arbitration, accordingly, no additional liability has been accrued as of September 30, 2013 or December 31, 2012 related to these items since the likelihood, if any, cannot be determined or reliably measured at this time.
		The Company has pending litigation relative to leases of certain equipment and real property with a former related party, Aero Inc. (see Note 7, Capital Lease – Related Party, and Note 11, Related Party Transactions). Aero Inc. is suing Servotronics, Inc. and its wholly owned subsidiary and has alleged damages in the amount of $3,000,000. The Company has filed a response to the Aero, Inc. lawsuit and has also filed a counter-claim in the amount of $3,191,000. The Company has not considered the risk of loss to be probable, but is unable to reasonably or accurately estimate the likelihood and amount of any liability or benefit that may be realized as a result of this litigation.
		The Company leases certain equipment pursuant to operating lease arrangements. Total rental expense in the three and nine month periods ended September 30, 2013 and 2012 and future minimum payments under such leases are not material to the consolidated financial statements. The Company also leases certain real property being accounted for under capital leases. See also Note 5, Property, Plant and Equipment, Note 6, Long-Term Debt, Note 7, Capital Lease – Related Party and Note 11, Related Party Transactions of the accompanying consolidated financial statements for information on the leases.
		The Company anticipates a multi-year investment plan designed to consolidate the operations of the CPG. The five year plan includes the construction of an approximate 25,000 square foot addition, capital improvements to the existing plant, the reconfiguration of its production process within the expanded facility, and the addition of new state of the art knife-making equipment. The timing, nature and extent of the expansion and renovation project are dependent upon the ability of the Company to secure financial assistance from various governmental assistance programs that it has applied for. At this time there are no material commitments of financial resources.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	11	Related Party Transactions
		During 2009 the Company formed a new wholly owned subsidiary (Aero Metal Products, Inc.) that leased certain personal property from a related party through the execution of a capital lease. The Company also entered into a real property operating lease agreement, with the same related party, which provided for annual rental payments of $60,000. These transactions were disclosed as related party transactions because the wife of a former officer of Servotronics, Inc. is a sole shareholder of the company that was leasing/selling the assets. In connection with the Company’s decision to cease all manufacturing operations in the third quarter of 2012 at this subsidiary, and the subsequent surrender of assets under the personal property and real property leases to the related party in the fourth quarter of 2012, the Company accrued for the remaining lease payments which are not material to the September 30, 2013 consolidated financial statements. See Note 7, Capital Lease-Related Party and Note 10, Commitments and Contingencies, of the accompanying consolidated financial statements.

Business_Segments

Business Segments	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Business Segments	'
	12	Business Segments
		The Company operates in two business segments, Advanced Technology Group (“ATG”) and Consumer Products Group (“CPG”). The Company’s reportable segments are strategic business units that offer different products and services. The segments are composed of separate corporations and are managed separately. Operations in ATG primarily involve the design, manufacture, and marketing of servo-control components (i.e., torque motors, control valves, actuators, etc.) for government, commercial and industrial applications. CPG’s operations involve the design, manufacture and marketing of a variety of cutlery products for use by consumers and government agencies. The Company derives its primary sales revenue from domestic customers, although a portion of finished products are for foreign end use.
		As of September 30, 2013, the Company had identifiable assets of approximately $30,545,000 ($29,303,000 – December 31, 2012) of which approximately $19,986,000 ($19,211,000 – December 31, 2012) was for ATG and approximately $10,559,000 ($10,092,000 – December 31, 2012) was for CPG.
		Information regarding the Company’s operations in these segments is summarized as follows ($000’s omitted):
			ATG						CPG						Consolidated
			Nine Months Ended						Nine Months Ended						Nine Months Ended
			September 30,						September 30,						September 30,
			2013			2012			2013			2012			2013			2012
	Revenues from unaffiliated customers		$	16,709		$	16,671		$	6,427		$	6,631		$	23,136		$	23,302
	Cost of goods sold, exclusive of depreciation and amortization			(11,978	)		(11,445	)		(5,186	)		(5,636	)		(17,164	)		(17,081	)
	Selling, general and administrative			(2,886	)		(2,411	)		(1,254	)		(1,342	)		(4,140	)		(3,753	)
	Interest expense			(31	)		(34	)		-			-			(31	)		(34	)
	Depreciation and amortization			(328	)		(323	)		(132	)		(114	)		(460	)		(437	)
	Other income, net			1			5			44			7			45			12
	Income (loss) from continuing operations before income tax provision			1,487			2,463			(101	)		(454	)		1,386			2,009
	Income tax provision (benefit)			375			812			(28	)		(149	)		347			663
	Income (loss) from continuing operations			1,112			1,651			(73	)		(305	)		1,039			1,346
	Discontinued operations:
	Loss from operations of a discontinued component, net of income tax benefit			-			-			-			(591	)		-			(591	)
	Loss on disposal of QCC and AMP, net of income tax benefit			-			-			-			(530	)		-			(530	)
	Loss from discontinued operations			-			-			-			(1,121	)		-			(1,121	)
	Net income (loss)		$	1,112		$	1,651		$	(73	)	$	(1,426	)	$	1,039		$	225
	Capital expenditures		$	920		$	327		$	204		$	67		$	1,124		$	394
			ATG						CPG						Consolidated
			Three Months Ended						Three Months Ended						Three Months Ended
			September 30,						September 30,						September 30,
			2013			2012			2013			2012			2013			2012
	Revenues from unaffiliated customers		$	5,520		$	5,783		$	2,207		$	1,733		$	7,727		$	7,516
	Cost of goods sold, exclusive of depreciation and amortization			(3,871	)		(4,080	)		(1,723	)		(1,456	)		(5,594	)		(5,536	)
	Selling, general and administrative			(1,088	)		(842	)		(418	)		(433	)		(1,506	)		(1,275	)
	Interest expense			(10	)		(11	)		-			-			(10	)		(11	)
	Depreciation and amortization			(109	)		(104	)		(43	)		(37	)		(152	)		(141	)
	Other income, net			1			-			43			2			44			2
	Income (loss) from continuing operations before income tax provision			443			746			66			(191	)		509			555
	Income tax provision (benefit)			134			335			17			(86	)		151			249
	Income (loss) from continuing operations			309			411			49			(105	)		358			306
	Discontinued operations:
	Loss from operations of a discontinued component, net of income tax benefit			-			-			-			(188	)		-			(188	)
	Loss on disposal of QCC and AMP, net of income tax benefit			-			-			-			(262	)		-			(262	)
	Loss from discontinued operations			-			-			-			(450	)		-			(450	)
	Net income (loss)		$	309		$	411		$	49		$	(555	)	$	358		$	(144	)
	Capital expenditures		$	107		$	234		$	28		$	24		$	135		$	258

Other_Income

Other Income	9 Months Ended
	Sep. 30, 2013
Other Income and Expenses [Abstract]	'
Other Income	'
	13	Other Income
		Components of other income include interest income on cash and cash equivalents, and other amounts not directly related to the sale of the Company’s products. Other income is immaterial in relationship to the consolidated financial statements.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	14	Subsequent Events
		On October 16, 2013, the Company’s wholly-owned subsidiary, The Ontario Knife Company, was awarded certain incentives from the County of Cattaraugus Industrial Development Agency (CCIDA) in connection with a proposed expansion of The Ontario Knife Company’s facility in Franklinville, New York and other proposed capital expenditures. The incentives include certain real property tax and sales tax abatements in connection with the proposed project. The Ontario Knife Company entered into customary lease and leaseback arrangements with the CCIDA to facilitate the various tax incentives.

Business_Description_and_Summa1

Business Description and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Business Description and Summary Of Significant Accounting Policies [Abstract]	'
Principles of Consolidation	'
		Principles of Consolidation
		The consolidated financial statements include the accounts of Servotronics, Inc. and its wholly-owned subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated upon consolidation.
Cash and Cash Equivalents	'
		Cash and Cash Equivalents
		The Company considers cash and cash equivalents to include all cash accounts and short-term investments purchased with an original maturity of three months or less.
Accounts Receivable	'
		Accounts Receivable
		The Company grants credit to substantially all of its customers and carries its accounts receivable at original invoice amount less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on history of past write-offs, collections, and current credit conditions. The allowance for doubtful accounts amounted to approximately $103,000 at September 30, 2013 and $130,000 at December 31, 2012. The Company does not accrue interest on past due receivables.
Revenue Recognition	'
		Revenue Recognition
		Revenues are recognized as services are rendered or as units are shipped and at the designated FOB point consistent with the transfer of title, risks and rewards of ownership. Such purchase orders generally include specific terms relative to quantity, item description, specifications, price, customer responsibility for in-process costs, delivery schedule, shipping point, payment and other standard terms and conditions of purchase.
Inventories	'
		Inventories
		Inventories are stated at the lower of standard cost or net realizable value. Cost includes all costs incurred to bring each product to its present location and condition. Market provisions in respect of lower of cost or market adjustments and inventory expected to be used in greater than one year are applied to the gross value of the inventory through a reserve of approximately $733,000 and $778,000 at September 30, 2013 and December 31, 2012, respectively. Pre-production and start-up costs are expensed as incurred.
		The purchase of suppliers’ minimum economic quantities of material such as steel, etc. may result in a purchase of quantities exceeding one year of customer requirements. Also, in order to maintain a reasonable and/or agreed to lead time, certain larger quantities of other product support items may have to be purchased and may result in over one year’s supply.
Shipping and Handling Costs	'
		Shipping and Handling Costs
		Shipping and handling costs are classified as a component of cost of goods sold.
Property, Plant and Equipment	'
		Property, Plant and Equipment
		Property, plant and equipment is carried at cost; expenditures for new facilities and equipment and expenditures which substantially increase the useful lives of existing plant and equipment are capitalized; expenditures for maintenance and repairs are expensed as incurred. Upon disposal of properties, the related cost and accumulated depreciation are removed from the respective accounts and any profit or loss on disposition is included in income.
		Depreciation is provided on the basis of estimated useful lives of depreciable properties, primarily by the straight-line method for financial statement purposes and by accelerated methods for tax purposes. Depreciation expense includes the amortization of capital lease assets. The estimated useful lives of depreciable properties are generally as follows:
	Buildings and improvements		5-39 years
	Machinery and equipment		5-20 years
	Tooling		3-5 years
Income Taxes	'
		Income Taxes
		The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of operating loss and credit carryforwards and temporary differences between the carrying amounts and the tax basis of assets and liabilities. The Company and its subsidiaries file a consolidated federal income tax return, combined New York and Texas state income tax returns and separate Pennsylvania and Arkansas state income tax returns.
		The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company did not have any accrued interest or penalties included in its consolidated balance sheets at September 30, 2013 or December 31, 2012, and did not recognize any interest and/or penalties in its consolidated statements of income during the three and nine months ended September 30, 2013 and 2012.
		The 2010 through 2012 Federal and state returns remain open under statute.
Supplemental Cash Flow Information	'
		Supplemental Cash Flow Information
		Income taxes paid during the three months ended September 30, 2013 and 2012 amounted to approximately $136,000 and zero, respectively, and amounted to approximately $136,000 and $256,000 for the nine months ended September 30, 2013 and 2012, respectively. Interest paid during the three months ended September 30, 2013 and 2012 amounted to approximately $10,000 and $12,000, respectively, and amounted to $31,000 and $38,000 for the nine months ended September 30, 2013 and 2012, respectively. In the first quarter of 2013, the Company reduced its tax liability by approximately $21,000 related to the exercise of stock options and was credited directly to capital in excess of par value.
Employee Stock Ownership Plan	'
		Employee Stock Ownership Plan
		Contributions to the employee stock ownership plan are determined annually by the Company according to plan formula.
Impairment of Long-Lived Assets	'
		Impairment of Long-Lived Assets
		The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate, or at least annually, that the carrying amount of the assets may not be fully recoverable based on undiscounted future operating cash flow analyses. If an impairment is determined to exist, any related impairment loss is calculated based on fair value. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal. The Company has determined that no impairment of long-lived assets existed at September 30, 2013 and December 31, 2012.
Use of Estimates	'
		Use of Estimates
		The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	'
		Reclassifications
		Certain balances as previously reported were reclassified to conform with classifications adopted in the current period.
Research and Development Costs	'
		Research and Development Costs
		Research and development costs are expensed as incurred.
Concentration of Credit Risks	'
		Concentration of Credit Risks
		Financial instruments that potentially subject the Company to concentration of credit risks principally consist of cash accounts in financial institutions. Although the accounts exceed the federally insured deposit amount, management does not anticipate nonperformance by the financial institutions. Refer to Note 12, Business Segments, for disclosures related to customer concentrations.
Fair Value of Financial Instruments	'
		Fair Value of Financial Instruments
		The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are reasonable estimates of their fair value due to their short maturity. Based on variable interest rates and the borrowing rates currently available to the Company for loans similar to its long-term debt, the fair value approximates its carrying amount.

Business_Description_and_Summa2

Business Description and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Business Description and Summary Of Significant Accounting Policies [Abstract]	'
Schedule of estimated useful lives of depreciable properties	'
	Buildings and improvements	5-39 years
	Machinery and equipment	5-20 years
	Tooling	3-5 years

Discontinued_Operations_Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations [Abstract]	'
Schedule of summary of discontinued operations	'
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013		2012			2013		2012
		($000’s omitted)
	Discontinued operations:
	Revenue of QCC and AMP	$	-	$	221		$	-	$	899
	Loss from operations of QCC and AMP	$	-	$	(285	)	$	-	$	(895	)
	Income tax benefit		-		97			-		304
	Net loss from operations of QCC and AMP		-		(188	)		-		(591	)
	Loss on disposal of QCC and AMP		-		(397	)		-		(804	)
	Income tax benefit		-		135			-		274
	Net loss on disposal of QCC and AMP		-		(262	)		-		(530	)
	Loss from discontinued operations	$	-	$	(450	)	$	-	$	(1,121	)

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Sep. 30, 2013
Inventory Disclosure [Abstract]	'
Schedule of inventories	'
		September 30,		December 31,
		2013		2012
		($000’s omitted)
	Raw materials and common parts	$	6,160	$	6,189
	Work-in-process		3,258		2,460
	Finished goods		2,515		2,564
	Total inventories, net of reserve	$	11,933	$	11,213

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Schedule of property, plant and equipment	'
		September 30,			December 31,
		2013			2012
		($000’s omitted)
	Land	$	21		$	21
	Buildings		7,876			7,256
	Machinery, equipment and tooling		12,794			12,370
			20,691			19,647
	Less accumulated depreciation and amortization		(14,103	)		(13,701	)
	Total property, plant and equipment	$	6,588		$	5,946

LongTerm_Debt_Tables

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Schedule of long-term debt	'
			September 30,			December 31,
			2013			2012
			($000’s omitted)
	Industrial Development Revenue Bonds; secured by an equivalent letter of credit from a bank with interest payable monthly at a floating rate (0.32% at September 30, 2013) (A)		$	2,790		$	2,790
	Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015			49			65
				2,839			2,855
	Less current portion			(192	)		(192	)
			$	2,647		$	2,663
	(A)	The Industrial Development Revenue Bonds were issued by a government agency to finance the construction of the Company’s headquarters/advanced technology facility. Annual sinking fund payments of $170,000 commenced December 1, 2000 and continue through 2013, with a final payment of $2,620,000 due December 1, 2014. The Company has agreed to reimburse the issuer of the letter of credit if there are draws on that letter of credit. The Company pays the letter of credit bank an annual fee of 1% of the amount secured thereby and pays the remarketing agent for the bonds an annual fee of 1/4% of the principal amount outstanding. The Company’s interest under the facility capital lease has been pledged to secure its obligations to the government agency, the bank and the bondholders.

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Schedule of stockholders equity of the company	'
		($000’s omitted except for share data)
		Common stock																Accumulated Other Comprehensive Loss
		Number		Amount			Capital in		Retained earnings			ESOP			Treasury Stock						Total Shareholders’ Equity
		of shares issued					excess of
							par value
	Balance December 31, 2012		2,614,506	$	523		$	13,987	$	11,771		$	(1,165	)	$	(1,765	)	$	(85	)	$	23,266
	Net income		-		-			-		1,039			-			-			-			1,039
	Purchase of treasury shares		-		-			-		-			-			(371	)		-			(371	)
	Cash dividend		-		-			-		(406	)		-			-			-			(406	)
	Stock based compensation		-		-			-		-			-			165			-			165
	Exercise of stock options, net of tax benefit		-		-			21		(38	)		-			109			-			92
	Balance September 30, 2013		2,614,506	$	523		$	14,008	$	12,366		$	(1,165	)	$	(1,862	)	$	(85	)	$	23,785
Schedule of earnings per share of the company	'
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013		2012			2013		2012
		($000’s omitted except per share data)
	Income from continuing operations	$	358	$	306		$	1,039	$	1,346
	Loss from discontinued operations		-		(450	)		-		(1,121	)
	Net income (loss)	$	358	$	(144	)	$	1,039	$	225
	Weighted average common shares outstanding (basic)		2,305		2,146			2,259		2,125
	Incremental shares from assumed conversions of stock options		-		6			1		19
	Weighted average common shares outstanding (diluted)		2,305		2,152			2,260		2,144
	Basic
	Income per share from continuing operations	$	0.16	$	0.14		$	0.46	$	0.63
	Loss per share from discontinued operations		-		(0.21	)		-		(0.53	)
	Total net income (loss) per share	$	0.16	$	(0.07	)	$	0.46	$	0.1
	Diluted
	Income per share from continuing operations	$	0.16	$	0.14		$	0.46	$	0.63
	Loss per share from discontinued operations		-		(0.21	)		-		(0.52	)
	Total net income (loss) per share	$	0.16	$	(0.07	)	$	0.46	$	0.11

Business_Segments_Tables

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of information regarding company's operations in segments	'
		ATG						CPG						Consolidated
		Nine Months Ended						Nine Months Ended						Nine Months Ended
		September 30,						September 30,						September 30,
		2013			2012			2013			2012			2013			2012
	Revenues from unaffiliated customers	$	16,709		$	16,671		$	6,427		$	6,631		$	23,136		$	23,302
	Cost of goods sold, exclusive of depreciation and amortization		(11,978	)		(11,445	)		(5,186	)		(5,636	)		(17,164	)		(17,081	)
	Selling, general and administrative		(2,886	)		(2,411	)		(1,254	)		(1,342	)		(4,140	)		(3,753	)
	Interest expense		(31	)		(34	)		-			-			(31	)		(34	)
	Depreciation and amortization		(328	)		(323	)		(132	)		(114	)		(460	)		(437	)
	Other income, net		1			5			44			7			45			12
	Income (loss) from continuing operations before income tax provision		1,487			2,463			(101	)		(454	)		1,386			2,009
	Income tax provision (benefit)		375			812			(28	)		(149	)		347			663
	Income (loss) from continuing operations		1,112			1,651			(73	)		(305	)		1,039			1,346
	Discontinued operations:
	Loss from operations of a discontinued component, net of income tax benefit		-			-			-			(591	)		-			(591	)
	Loss on disposal of QCC and AMP, net of income tax benefit		-			-			-			(530	)		-			(530	)
	Loss from discontinued operations		-			-			-			(1,121	)		-			(1,121	)
	Net income (loss)	$	1,112		$	1,651		$	(73	)	$	(1,426	)	$	1,039		$	225
	Capital expenditures	$	920		$	327		$	204		$	67		$	1,124		$	394
		ATG						CPG						Consolidated
		Three Months Ended						Three Months Ended						Three Months Ended
		September 30,						September 30,						September 30,
		2013			2012			2013			2012			2013			2012
	Revenues from unaffiliated customers	$	5,520		$	5,783		$	2,207		$	1,733		$	7,727		$	7,516
	Cost of goods sold, exclusive of depreciation and amortization		(3,871	)		(4,080	)		(1,723	)		(1,456	)		(5,594	)		(5,536	)
	Selling, general and administrative		(1,088	)		(842	)		(418	)		(433	)		(1,506	)		(1,275	)
	Interest expense		(10	)		(11	)		-			-			(10	)		(11	)
	Depreciation and amortization		(109	)		(104	)		(43	)		(37	)		(152	)		(141	)
	Other income, net		1			-			43			2			44			2
	Income (loss) from continuing operations before income tax provision		443			746			66			(191	)		509			555
	Income tax provision (benefit)		134			335			17			(86	)		151			249
	Income (loss) from continuing operations		309			411			49			(105	)		358			306
	Discontinued operations:
	Loss from operations of a discontinued component, net of income tax benefit		-			-			-			(188	)		-			(188	)
	Loss on disposal of QCC and AMP, net of income tax benefit		-			-			-			(262	)		-			(262	)
	Loss from discontinued operations		-			-			-			(450	)		-			(450	)
	Net income (loss)	$	309		$	411		$	49		$	(555	)	$	358		$	(144	)
	Capital expenditures	$	107		$	234		$	28		$	24		$	135		$	258

Business_Description_and_Summa3

Business Description and Summary of Significant Accounting Policies - Estimated useful lives of depreciable properties (Details)	9 Months Ended
	Sep. 30, 2013
Buildings and improvements	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives of depreciable properties	'5-39 years
Machinery and equipment	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives of depreciable properties	'5-20 years
Tooling	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives of depreciable properties	'3-5 years

Business_Description_and_Summa4

Business Description and Summary of Significant Accounting Policies (Detail Textuals) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Business Description and Summary Of Significant Accounting Policies [Abstract]	'	'	'	'	'	'
Allowance for doubtful accounts	$103	'	'	$103	'	$130
Inventory reserve	733	'	'	733	'	778
Income taxes paid	136	'	0	136	256	'
Interest paid	10	'	12	31	38	'
Exercise of stock options, net of income tax benefit	'	$21	'	'	'	'

Discontinued_operations_Summar

Discontinued operations - Summary of discontinued operations (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Discontinued Operations [Abstract]	'	'	'	'
Revenue of QCC and AMP	'	$221	'	$899
Loss from operations of QCC and AMP	'	-285	'	-895
Income tax benefit	'	97	'	304
Loss from operations of a discontinued component, net of income tax benefit	'	-188	'	-591
Loss on disposal of QCC and AMP	'	-397	'	-804
Income tax benefit	'	135	'	274
Net loss on disposal of QCC and AMP	'	-262	'	-530
Loss from discontinued operations	'	($450)	'	($1,121)

Discontinued_operations_Detail

Discontinued operations (Detail Textuals) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
	Sep. 18, 2012	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2012	Jul. 23, 2012
	Queen Cutlery Company (QCC)	Queen Cutlery Company (QCC)	Queen Cutlery Company (QCC)	Aero Metal Products, Inc. (AMP)	Aero Metal Products, Inc. (AMP)	Aero Metal Products, Inc. (AMP)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'	'
Disposition of sale of assets for cash consideration	$650,000	'	'	'	'	'
Income (loss) from discontinued operations before income tax	'	-116,000	-358,000	-169,000	-537,000	'
Capital lease with a related party	'	'	'	'	'	$588,000

Inventories_Summary_of_invento

Inventories - Summary of inventories (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Raw materials and common parts	$6,160	$6,189
Work-in-process	3,258	2,460
Finished goods	2,515	2,564
Total inventories, net of reserve	$11,933	$11,213

Property_Plant_and_Equipment_S

Property, Plant and Equipment - Summary of property, plant and equipment (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	$20,691	$19,647
Less accumulated depreciation and amortization	-14,103	-13,701
Total property, plant and equipment	6,588	5,946
Land	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	21	21
Buildings	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	7,876	7,256
Machinery, equipment and tooling	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	$12,794	$12,370

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Detail Textuals) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Depreciation	$117	$107	$355	$334	'
Depreciation and amortization	152	141	460	437	'
Buildings	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Accumulated amortization	2,649	'	2,649	'	2,552
Amortization expense	32	33	97	97	'
Machinery and equipment	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Amortization expense	$0	$0	$0	$42	'

Property_Plant_and_Equipment_D1

Property, Plant and Equipment (Detail Textuals 1) (USD $)	Sep. 30, 2013	Jul. 23, 2012	Sep. 30, 2013	Dec. 31, 2012
	Land and building	Machinery and equipment	Construction in progress	Construction in progress
	Elma	Capital Lease Obligations	CPG	ATG
	Capital Lease Obligations
Property, Plant and Equipment [Line Items]	'	'	'	'
Nominal amount of capital lease	$5,000,000	'	'	'
Capital lease obligations related party	'	588,000	'	'
Construction in progress	'	'	$121,000	$290,000

LongTerm_Debt_Summary_of_long_

Long-Term Debt - Summary of long term debt (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'		'
Long-term debt	$2,839		$2,855
Less current portion	-192		-192
Long-term debt, Noncurrent	2,647		2,663
Industrial Development Revenue Bonds; secured by an equivalent letter of credit from a bank with interest payable monthly at a floating rate (0.32% at September 30, 2013)	'		'
Debt Instrument [Line Items]	'		'
Long-term debt	2,790	[1]	2,790	[1]
Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015	'		'
Debt Instrument [Line Items]	'		'
Long-term debt	$49		$65
[1]	The Industrial Development Revenue Bonds were issued by a government agency to finance the construction of the Company's headquarters/advanced technology facility. Annual sinking fund payments of $170,000 commenced December 1, 2000 and continue through 2013, with a final payment of $2,620,000 due December 1, 2014. The Company has agreed to reimburse the issuer of the letter of credit if there are draws on that letter of credit. The Company pays the letter of credit bank an annual fee of 1% of the amount secured thereby and pays the remarketing agent for the bonds an annual fee of 1/4% of the principal amount outstanding. The Company's interest under the facility capital lease has been pledged to secure its obligations to the government agency, the bank and the bondholders.

LongTerm_Debt_Summary_of_long_1

Long-Term Debt - Summary of long term debt (Parentheticals) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Industrial Development Revenue Bonds; secured by an equivalent letter of credit from a bank with interest payable monthly at a floating rate (0.32% at September 30, 2013) | Letter of credit from bank	'
Debt Instrument [Line Items]	'
Percentage of floating interest rate payable	0.32%
Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015	'
Debt Instrument [Line Items]	'
Percentage of fixed interest rate payable	3.00%
Monthly principal payments	$1,950
Frequency of principal payments	'monthly

LongTerm_Debt_Detail_Textuals

Long-Term Debt (Detail Textuals) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
In Thousands, unless otherwise specified	Line of credit	Line of credit	Industrial Development Revenue Bonds; secured by an equivalent letter of credit from a bank with interest payable monthly at a floating rate (0.32% at September 30, 2013)
			Letter of credit from bank
Debt Instrument [Line Items]	'	'	'
Annual sinking fund payments commenced December 1, 2000 through 2013	'	'	$170
Percentage of annual fee of secured amount	'	'	1.00%
Percentage of annual fee of principal amount outstanding	'	'	0.25%
Final sinking fund payment due December 1, 2014	'	'	2,620
Unsecured line of credit	$2,000	$2,000	'

Capital_Lease_Related_Party_De

Capital Lease - Related Party (Detail Textuals) (Aero Metal Products, Inc. (AMP), USD $)	0 Months Ended
	Nov. 03, 2009
Aero Metal Products, Inc. (AMP)	'
Related Party Transaction [Line Items]	'
Monthly payments	$7,500
Interest rate	2.00%

Income_Taxes_Detail_Textuals

Income Taxes (Detail Textuals) (USD $)	3 Months Ended
	Mar. 31, 2013
Income Tax Disclosure [Abstract]	'
Amount of tax benefit to reflect research and development tax credit re-enactment	$40,000

Shareholders_Equity_Summary_of

Shareholders' Equity - Summary of shareholders' equity (Details) (USD $)	Common stock	Capital in excess of par value	Retained earnings	ESOP	Treasury stock	Accumulated Other Comprehensive Loss	Total
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2012	$523	$13,987	$11,771	($1,165)	($1,765)	($85)	$23,266
Balance (shares) at Dec. 31, 2012	2,614,506	'	'	'	'	'	2,614,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Net income	'	'	1,039	'	'	'	1,039
Purchase of treasury shares	'	'	'	'	-371	'	-371
Cash dividend	'	'	-406	'	'	'	-406
Stock based compensation	'	'	'	'	165	'	165
Exercise of stock options, net of tax benefit	'	21	-38	'	109	'	92
Balance at Sep. 30, 2013	$523	$14,008	$12,366	($1,165)	($1,862)	($85)	$23,785
Balance (shares) at Sep. 30, 2013	2,614,506	'	'	'	'	'	2,614,506

Shareholders_Equity_Calculatio

Shareholders' Equity - Calculation of earning per share (Details 1) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Equity [Abstract]	'	'	'	'
Income from continuing operations	$358	$306	$1,039	$1,346
Loss from discontinued operations	'	-450	'	-1,121
Net income (loss)	$358	($144)	$1,039	$225
Weighted average common shares outstanding (basic) (in shares)	2,305	2,146	2,259	2,125
Incremental shares from assumed conversions of stock options	'	6	1	19
Weighted average common shares outstanding (diluted) (in shares)	2,305	2,152	2,260	2,144
Basic	'	'	'	'
Income per share from continuing operations (in dollars per share)	$0.16	$0.14	$0.46	$0.63
Loss per share from discontinued operations (in dollars per share)	'	($0.21)	'	($0.53)
Total net income (loss) per share (in dollars per share)	$0.16	($0.07)	$0.46	$0.10
Diluted	'	'	'	'
Income per share from continuing operations (in dollars per share)	$0.16	$0.14	$0.46	$0.63
Loss per share from discontinued operations (in dollars per share)	'	($0.21)	'	($0.52)
Total net income (loss) per share (in dollars per share)	$0.16	($0.07)	$0.46	$0.11

Shareholders_Equity_Detail_Tex

Shareholders' Equity (Detail Textuals) (Share Repurchase Program, USD $)	9 Months Ended			1 Months Ended
	Sep. 30, 2013	Oct. 31, 2008	Jan. 31, 2006	Oct. 31, 2013
				Subsequent Event
Equity, Class of Treasury Stock [Line Items]	'	'	'	'
Number of shares authorized to be purchased (in shares)	'	200,000	250,000	'
Number of shares purchased under purchase program (in shares)	296,131	'	'	'
Remaining number of shares authorized to be purchased (in shares)	153,869	'	'	'
Shares purchased during period (in shares)	44,306	'	'	14,785
Value of stock repurchased (in dollars)	'	'	'	$130,000

Shareholders_Equity_Detail_Tex1

Shareholders' Equity (Detail Textuals 1) (USD $)	9 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Mar. 31, 2013
		Option Holder
		ESOP
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]	'	'
Number of options elected to exercise	'	15,000
Exercise of stock options	$92	$70
Tax benefit associated with option exercised	'	$21

Shareholders_Equity_Detail_Tex2

Shareholders' Equity (Detail Textuals 2) (USD $)	1 Months Ended	9 Months Ended		1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 18, 2013	Sep. 30, 2013	28-May-13	Apr. 18, 2013	Sep. 30, 2013	Sep. 30, 2013
				2012 Long-Term Incentive Plan	2012 Long-Term Incentive Plan	2012 Long-Term Incentive Plan
				Restricted stock	Restricted stock	Restricted stock
				Executive Officers	Executive Officers	Executive Officers
Deferred Compensation Arrangement With Individual, Share-Based Payments [Line Items]	'	'	'	'	'	'
Number of restricted stock issued	'	'	'	165,000	'	'
Vesting period of restricted share awards	'	'	'	'4 years	'	'
Expense recognized for issuance of restricted shares	'	'	'	$1,336,500	$90,000	$165,000
Dividends payable per share	'	'	$0.16	'	'	'
Dividends, Date Declared	28-May-13	'	'	'	'	'
Dividends, Date to be Paid	15-Jul-13	'	'	'	'	'
Dividends,Date of Record	24-Jun-13	'	'	'	'	'
Aggregate cash dividends	$406,000	$406,000	'	'	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Detail Textuals) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
	sqft
Loss Contingencies [Line Items]	'
Maximum estimated additional liabilities of future medical benefits and severance compensation	$1,400
Area of additional construction facility for capital improvements	25,000
Aero Metal Products, Inc. (AMP)	'
Loss Contingencies [Line Items]	'
Amount of alleged damages	3,000
Amount of counter claim	$3,191

Related_Party_Transaction_Deta

Related Party Transaction (Detail Textuals) (Aero Metal Products, Inc. (AMP), USD $)	Dec. 31, 2009
Aero Metal Products, Inc. (AMP)	'
Related Party Transaction [Line Items]	'
Real property lease agreement, annual rental expenses	$60,000

Business_Segments_Summary_of_c

Business Segments - Summary of company's operations (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	$7,727	$7,516	$23,136	$23,302
Cost of goods sold, exclusive of depreciation and amortization	-5,594	-5,536	-17,164	-17,081
Selling, general and administrative	-1,506	-1,275	-4,140	-3,753
Interest expense	-10	-11	-31	-34
Depreciation and amortization	-152	-141	-460	-437
Other income, net	44	2	45	12
Income (loss) from continuing operations before income tax provision	509	555	1,386	2,009
Income tax provision (benefit)	151	249	347	663
Income (loss) from continuing operations	358	306	1,039	1,346
Discontinued Operations:	'	'	'	'
Loss from operations of a discontinued component, net of income tax benefit	'	-188	'	-591
Loss on disposal of QCC and AMP, net of income tax benefit	'	-262	'	-530
Loss from discontinued operations	'	-450	'	-1,121
Net income (loss)	358	-144	1,039	225
Capital expenditures	'	'	1,124	394
Operating Segments	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	7,727	7,516	23,136	23,302
Cost of goods sold, exclusive of depreciation and amortization	-5,594	-5,536	-17,164	-17,081
Selling, general and administrative	-1,506	-1,275	-4,140	-3,753
Interest expense	-10	-11	-31	-34
Depreciation and amortization	-152	-141	-460	-437
Other income, net	44	2	45	12
Income (loss) from continuing operations before income tax provision	509	555	1,386	2,009
Income tax provision (benefit)	151	249	347	663
Income (loss) from continuing operations	358	306	1,039	1,346
Discontinued Operations:	'	'	'	'
Loss from operations of a discontinued component, net of income tax benefit	'	-188	'	-591
Loss on disposal of QCC and AMP, net of income tax benefit	'	-262	'	-530
Loss from discontinued operations	'	-450	'	-1,121
Net income (loss)	358	-144	1,039	225
Capital expenditures	135	258	1,124	394
Operating Segments | ATG	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	5,520	5,783	16,709	16,671
Cost of goods sold, exclusive of depreciation and amortization	-3,871	-4,080	-11,978	-11,445
Selling, general and administrative	-1,088	-842	-2,886	-2,411
Interest expense	-10	-11	-31	-34
Depreciation and amortization	-109	-104	-328	-323
Other income, net	1	'	1	5
Income (loss) from continuing operations before income tax provision	443	746	1,487	2,463
Income tax provision (benefit)	134	335	375	812
Income (loss) from continuing operations	309	411	1,112	1,651
Discontinued Operations:	'	'	'	'
Loss from operations of a discontinued component, net of income tax benefit	'	'	'	'
Loss on disposal of QCC and AMP, net of income tax benefit	'	'	'	'
Loss from discontinued operations	'	'	'	'
Net income (loss)	309	411	1,112	1,651
Capital expenditures	107	234	920	327
Operating Segments | CPG	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	2,207	1,733	6,427	6,631
Cost of goods sold, exclusive of depreciation and amortization	-1,723	-1,456	-5,186	-5,636
Selling, general and administrative	-418	-433	-1,254	-1,342
Interest expense	'	'	'	'
Depreciation and amortization	-43	-37	-132	-114
Other income, net	43	2	44	7
Income (loss) from continuing operations before income tax provision	66	-191	-101	-454
Income tax provision (benefit)	17	-86	-28	-149
Income (loss) from continuing operations	49	-105	-73	-305
Discontinued Operations:	'	'	'	'
Loss from operations of a discontinued component, net of income tax benefit	'	-188	'	-591
Loss on disposal of QCC and AMP, net of income tax benefit	'	-262	'	-530
Loss from discontinued operations	'	-450	'	-1,121
Net income (loss)	49	-555	-73	-1,426
Capital expenditures	$28	$24	$204	$67

Business_Segments_Detail_Textu

Business Segments (Detail Textuals) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
	Segment
Segment Reporting Information [Line Items]	'	'
Number of operating segments	2	'
Total identifiable assets	$30,545	$29,303
Operating Segments | Advanced Technology Group	'	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	19,986	19,211
Operating Segments | Consumer Products Group	'	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	$10,559	$10,092