Servotronics (SVT) 10-Q 14 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
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	'	2,457,854
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$3,769	$4,502
Accounts receivable, net	5,739	4,990
Inventories, net	12,850	11,929
Prepaid income taxes	26	310
Deferred income taxes	2,589	747
Other assets	529	311
Total current assets	25,502	22,789
Property, plant and equipment, net	8,157	6,860
Other non-current assets	362	354
Total Assets	34,021	30,003
Current liabilities:	'	'
Current portion of long-term debt	2,641	2,641
Demand note payable	1,000	'
Accounts payable	1,496	1,216
Accrued employee compensation and benefit costs	1,640	1,612
Accrued arbitration award and related liability	5,419	'
Other accrued liabilities	522	297
Total current liabilities	12,718	5,766
Long-term debt	4	21
Deferred income taxes	482	482
Commitments and contingencies (See Note 8)	'	'
Shareholders' equity:	'	'
Common stock, par value $.20; authorized 4,000,000 shares; issued 2,614,506 shares; outstanding 2,262,061 (2,285,883 - 2013) shares	523	523
Capital in excess of par value	14,056	14,024
Retained earnings	9,303	12,302
Accumulated other comprehensive loss	-26	-26
Employee stock ownership trust commitment	-1,065	-1,065
Treasury stock, at cost 156,652 (137,830 - 2013) shares	-1,974	-2,024
Total shareholders' equity	20,817	23,734
Total Liabilities and Shareholders' Equity	$34,021	$30,003

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
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	2,262,061	2,285,883
Treasury stock, shares	156,652	137,830

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Revenue	$8,031	$7,727	$23,016	$23,136
Costs, expenses and other income:	'	'	'	'
Cost of goods sold, exclusive of depreciation and amortization	6,125	5,594	17,413	17,164
Selling, general and administrative	1,262	1,506	4,181	4,140
Interest expense	12	10	31	31
Arbitration award expense	5,419	'	5,419	'
Depreciation and amortization	150	152	490	460
Other income, net	-4	-44	-16	-45
Total expenses	12,964	7,218	27,518	21,750
Income (loss) before income tax provision	-4,933	509	-4,502	1,386
Income tax provision	-1,632	151	-1,503	347
Net (loss) income	($3,301)	$358	($2,999)	$1,039
Basic	'	'	'	'
Net (loss) income per share (in dollars per share)	($1.46)	$0.16	($1.32)	$0.46
Diluted	'	'	'	'
Net (loss) income per share (in dollars per share)	($1.46)	$0.16	($1.32)	$0.46

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement Of Income and Comprehensive Income [Abstract]	'	'	'	'
Net (loss) income	($3,301)	$358	($2,999)	$1,039
Other comprehensive income:	'	'	'	'
Retirement benefits adjustment	'	'	'	'
Total comprehensive income	($3,301)	$358	($2,999)	$1,039

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows related to operating activities:	'	'
Net (loss) income	($2,999)	$1,039
Adjustments to reconcile net (loss) income to net cash generated in operating activities:	'	'
Depreciation and amortization	490	460
Deferred income tax (benefit)	-1,842	'
Stock based compensation	271	165
Increase (decrease) in inventory reserve	177	-45
Decrease in allowance for doubtful accounts	-60	-27
Gain on disposal of property and equipment	'	-22
Change in assets and liabilities:	'	'
Accounts receivable	-689	-553
Inventories	-1,098	-675
Prepaid income taxes	274	389
Other assets	-218	-257
Other non-current assets	-8	14
Accounts payable	280	412
Accrued employee compensation and benefit costs	28	443
Accrued arbitration award and related liability	5,419	'
Other accrued liabilities	225	-114
Net cash generated in operating activities	250	1,229
Cash flows related to investing activities:	'	'
Capital expenditures - property, plant and equipment	-1,777	-1,124
Proceeds from sale of assets	'	43
Net cash used in investing activities	-1,777	-1,081
Cash flows related to financing activities:	'	'
Principal payments on long-term debt	-17	-16
Demand note payable	1,000	'
Proceeds from exercise of stock options	'	70
Purchase of treasury shares	-189	-371
Cash dividend	'	-406
Net cash generated (used) in financing activities	794	-723
Net decrease in cash and cash equivalents	-733	-575
Cash and cash equivalents at beginning of period	4,502	5,573
Cash and cash equivalents at end of period	$3,769	$4,998

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
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, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. The consolidated financial statements should be read in conjunction with the 2013 annual report and the notes thereto.

Business_Description_and_Summa

Business Description and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2014
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 $62,000 at September 30, 2014 and $122,000 at December 31, 2013. 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 $891,000 and $714,000 at September 30, 2014 and December 31, 2013, 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	5-40 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 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, 2014 or December 31, 2013, and did not recognize any interest and/or penalties in its consolidated statements of income during the three or nine months ended September 30, 2014 and 2013.
		Supplemental Cash Flow Information
	Income taxes paid (net of refunds) during the nine months ended September 30, 2014 amounted to approximately $44,000. Income taxes paid during the nine months ended September 30, 2013 amounted to approximately $136,000. Interest paid during the nine months ended September 30, 2014 and 2013 amounted to approximately $31,000, respectively.
		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 annually or whenever events or changes in business circumstances indicate 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, 2014 and December 31, 2013.
		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 10, 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.
		Recent Accounting Pronouncements
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Inventories	'
	3	Inventories
			September 30,		December 31,
			2014		2013
			($000’s omitted)
	Raw materials and common parts, net of reserve		$	7,046	$	6,832
	Work-in-process			2,540		2,380
	Finished goods, net of reserve			3,264		2,717
	Total inventories		$	12,850	$	11,929

Property_Plant_and_Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment	'
	4	Property, Plant and Equipment
			September 30,			December 31,
			2014			2013
			($000’s omitted)
	Land		$	21		$	21
	Buildings			7,892			7,851
	Machinery, equipment and tooling			13,291			12,781
	Construction in progress			1,702			477
				22,906			21,130
	Less accumulated depreciation and amortization			(14,749	)		(14,270	)
	Total property, plant and equipment		$	8,157		$	6,860
	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, 2014 and December 31, 2013, accumulated amortization on the building amounted to approximately $2,779,000 and $2,682,000, respectively. Amortization expense amounted to $32,000 for the three month periods ended September 30, 2014 and 2013, respectively, and amounted to $97,000 for the nine month periods ended September 30, 2014 and 2013, respectively. The associated current and long-term liabilities are discussed in Note 5, Long-Term Debt, of the accompanying consolidated financial statements.
	Depreciation expense amounted to $115,000 and $117,000 for the three month periods ended September 30, 2014 and 2013, respectively and amounted to $383,000 and $355,000 for the nine month periods ended September 30, 2014 and 2013, respectively. The combined depreciation and amortization expense amounted to $150,000 and $152,000 for the three month periods ended September 30, 2014 and 2013, respectively, and amounted to $490,000 and $460,000 for the nine month periods ended September 30, 2014 and 2013, 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, 2014, there is approximately $1,702,000 of construction in progress included in property, plant and equipment related to facility expansion and renovation projects at both the CPG and ATG. At December 31, 2013 there was approximately $477,000 of construction in progress related to these projects. See Note 8, Commitments and Contingencies, of the accompanying consolidated financial statements.

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Long-Term Debt	'
	5	Long-Term Debt
			September 30,			December 31,
			2014			2013
			($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 (0.29% at September 30, 2014)(A)		$	2,620		$	2,620
	Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015			25			42
				2,645			2,662
	Less current portion			(2,641	)		(2,641	)
			$	4		$	21
	(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 continued 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 .25% 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 currently is in discussion with a financial institution to refinance the $2,620,000 as well as adding up to $2,000,000 in long term financing for existing capital projects at both the ATG and CPG and $2,000,000 to refinance and extend the current line of credit. The Company expects to finalize financing arrangements in the fourth quarter of 2014.
	The Company has an unsecured $2,000,000 line of credit on which there was $1,000,000 outstanding at September 30, 2014 at an interest rate of 3.25% and no balance at December 31, 2013.
	Certain lenders require the Company to comply with debt covenants as described in the specific loan documents, including a debt service ratio measured semi-annually. At June 30, 2014 and December 31, 2013 the Company was in compliance with these covenants.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	6	Income Taxes
	The Company did not have any material uncertain tax positions or unrecognized tax benefits or obligations as of September 30, 2014 and December 31, 2013. The Company and its subsidiaries file a consolidated federal income tax return, combined New York and Texas state income tax returns and a separate Pennsylvania and Arkansas state income tax returns.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Shareholders' Equity	'
	7	Shareholders’ Equity
			($000’s omitted except for share data)
			Common stock																		Accumulated
			Number			Amount		Capital in			Retained			ESOT			Treasury			Other			Total
			of shares					excess of			earnings						stock			Comprehensive			Shareholders’
			issued					par value												Loss			Equity
	Balance December 31, 2013			2,614,506		$	523	$	14,024		$	12,302		$	(1,065	)	$	(2,024	)	$	(26	)	$	23,734
	Net loss			-			-		-			(2,999	)		-			-			-			(2,999	)
	Purchase of treasury shares			-			-		-			-			-			(189	)		-			(189	)
	Stock based compensation			-			-		32			-			-			239			-			271
	Balance September 30, 2014			2,614,506		$	523	$	14,056		$	9,303		$	(1,065	)	$	(1,974	)	$	(26	)	$	20,817
	The Company’s Board of Directors authorized the purchase of up to 450,000 shares of its common stock in the open market or in privately negotiated transactions. As of September 30, 2014, the Company has purchased 329,760 shares and there remain 120,240 shares available to purchase under this program. There were 6,477 shares purchased by the Company during the nine month period ended September 30, 2014 for total consideration of approximately $48,000.
	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. This plan authorizes the issuance of up to 300,000 shares. 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 nine months ended September 30, 2014 is approximately $271,000 of compensation expense related to the restrictive share awards, $165,000 of compensation expense was recognized in the comparable period ended September 30, 2013.
	On January 1, 2014, 41,250 shares of restricted stock vested of which 17,345 shares were withheld and repurchased by the Company for approximately $140,000 to satisfy statutory minimum withholding tax requirements for those participants who elected this option as permitted under the Company’s 2012 Long-Term Incentive Plan.
		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,
			2014			2013		2014			2013
				($000’s omitted except per share data)
	Net (loss) income		$	(3,301	)	$	358	$	(2,999	)	$	1,039
	Weighted average common shares outstanding (basic)			2,262			2,305		2,265			2,259
	Incremental shares from assumed conversions of stock options			-			-		-			1
	Weighted average common shares outstanding (diluted)			2,262			2,305		2,265			2,260
	Basic
	Net (loss) income per share		$	(1.46	)	$	0.16	$	(1.32	)	$	0.46
	Diluted
	Net (loss) income per share		$	(1.46	)	$	0.16	$	(1.32	)	$	0.46

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	8	Commitments and Contingencies
	Litigation. As previously disclosed by Servotronics, Inc. certain claims have been pending between the Company and a former Executive Officer of the Company in connection with the termination of the former Executive Officer’s employment agreement. Such claims had been pending in an arbitration proceeding before a single arbitrator under the rules of the American Arbitration Association.
	On September 30, 2014 an award was issued under the rules of the American Arbitration Association in favor of the former Executive Officer and such award was revised by the arbitrator on October 28, 2014. Pursuant to the material provisions of the arbitration award as revised, the Company is to pay the former Executive Officer the sum of $3,534,534 plus interest at the annual rate of 9% calculated from September 2012 through the date of the final award.  The amount of the arbitration award represented the present value of the former Executive Officer’s calculation of his estimated total compensation for the remainder of the term of the employment agreement (through December 2018). In addition, as the prevailing party, the former Executive Officer is entitled to attorney’s fees and disbursements in connection with the arbitration.  On October 13, 2014 the former Executive Officer submitted a request to be awarded approximately $850,000 for such attorney’s fees and disbursements; however such request has not been approved by the arbitrator as of the date of this filing.
	The Company believes that the arbitrator’s ruling was not supported by the facts of this case or the terms of the employment agreement. On October 13, 2014, the Company, without conceding the correctness of any aspect of the arbitration award, requested that the arbitration hearing be reopened to allow evidentiary submissions with respect to the calculation of damages consistent with the arbitration award.  The Company argued that under New York law only non-discretionary compensation guaranteed under an employment contract is recoverable in a claim for breach of the employment contract while the arbitration award included estimated annual salary adjustments, bonus payments and other incentive compensation in future years that were not guaranteed under the terms of the employment agreement. The Company’s request was denied on October 28, 2014.
	Any final arbitration award (including determination of attorney’s fees and disbursements) must be confirmed by New York State Supreme Court prior to becoming binding on the Company. New York law does provide for limited grounds on which arbitral awards may be set aside. The Company is reviewing its legal options with respect to vacating the arbitration award.
	While the Company continues to challenge certain aspects of the award through legal processes, as of September 30, 2014 the Company has accrued for approximately $5,419,000 which represents $3,535,000 in damages, $645,000 in interest $850,000 in attorney fees as well as $389,000 in post-retirement health related benefits under the employment contract.
	The Company has pending litigation relative to leases of certain equipment and real property with a former related party, Aero, Inc. 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.
	Leases. The Company leases certain equipment pursuant to operating lease arrangements. Total rental expense in the three and nine month periods ended September 30, 2014 and 2013 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 4, Property, Plant and Equipment and Note 5, Long-Term Debt of the accompanying consolidated financial statements for information on the leases.
	Facility Expansion. As previously disclosed, the Company has commenced a multi-year investment plan designed to consolidate the operations of the CPG. The five year plan includes the construction of an approximate 28,000 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 Company broke ground in the second quarter of 2014 and has entered into contracts for site work and equipment purchases in connection with the project. The cost of the project is approximately $4,000,000 over a five year period of which $2,000,000 is expected to be completed by the end of 2014. Costs for the project are being accounted for as construction in progress on the accompanying consolidated balance sheet and will be moved to property, plant and equipment when placed in service.  The Ontario Knife Company was awarded certain incentives from the County of Cattaraugus Industrial Development Agency (CCIDA) in connection with the 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. The Company has also been awarded a $300,000 grant from Cattaraugus County, New York. The grant can be used towards the payment or reimbursement for work and/or materials, incurred or to be incurred in connection with the proposed expansion project. As part of the terms of the Grant Contract with Cattaraugus County, The Ontario Knife Company has agreed to maintain certain employment levels for a period of five years from the date of the agreement. The Company was also awarded a $416,000 New York State Community Development Block Grant from the Office of Community Renewal. The grant can be used towards the purchase of equipment in connection with the proposed expansion project. No amounts have been received or recorded by The Ontario Knife Company under the grant awards as of September 30, 2014. Upon receipt, recognition of amounts will be deferred until requirements are fulfilled, at which point amounts will be recognized over the life of the corresponding assets.

Litigation

Litigation	9 Months Ended
	Sep. 30, 2014
Litigation [Abstract]	'
Litigation	'
	9	Litigation
	As previously disclosed by Servotronics, Inc. certain claims have been pending between the Company and a former Executive Officer of the Company in connection with the termination of the former Executive Officer’s employment agreement. On September 30, 2014 an award was issued under the rules of the American Arbitration Association in favor of the former Executive Officer. See Note 8, Commitments and Contingencies, of the accompanying consolidated financial statements for additional information regarding the arbitration proceeding and award.
	There are no other legal proceedings which are material to the Company currently pending by or against the Company other than ordinary routine litigation incidental to the business which is not expected to have a material adverse effect on the business or earnings of the Company.

Business_Segments

Business Segments	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Business Segments	'
	10	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, 2014, the Company had identifiable assets of approximately $33,868,000 ($30,003,000 – December 31, 2013) of which approximately $22,546,000 ($19,816,000 – December 31, 2013) was for ATG and approximately $11,322,000 ($10,187,000 – December 31, 2013) 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,
			2014			2013			2014			2013			2014			2013
	Revenues from unaffiliated customers		$	18,002		$	16,709		$	5,014		$	6,427		$	23,016		$	23,136
	Cost of goods sold, exclusive of depreciation and amortization			(12,658	)		(11,978	)		(4,755	)		(5,186	)		(17,413	)		(17,164	)
	Selling, general and administrative			(3,096	)		(2,886	)		(1,085	)		(1,254	)		(4,181	)		(4,140	)
	Interest expense			(31	)		(31	)		-			-			(31	)		(31	)
	Arbitration award expense			(5,419	)		-			-			-			(5,419	)		-
	Depreciation and amortization			(351	)		(328	)		(139	)		(132	)		(490	)		(460	)
	Other income, net			13			1			3			44			16			45
	Income (loss) before income tax provision (benefit)			(3,540	)		1,487			(962	)		(101	)		(4,502	)		1,386
	Income tax (benefit) provision			(1,183	)		375			(320	)		(28	)		(1,503	)		347
	Net (loss) income		$	(2,357	)	$	1,112		$	(642	)	$	(73	)	$	(2,999	)	$	1,039
	Capital expenditures		$	602		$	920		$	1,175		$	204		$	1,777		$	1,124
			ATG						CPG						Consolidated
			Three Months Ended						Three Months Ended						Three Months Ended
			September 30,						September 30,						September 30,
			2014			2013			2014			2013			2014			2013
	Revenues from unaffiliated customers		$	6,443		$	5,520		$	1,588		$	2,207		$	8,031		$	7,727
	Cost of goods sold, exclusive of depreciation and amortization			(4,471	)		(3,871	)		(1,654	)		(1,723	)		(6,125	)		(5,594	)
	Selling, general and administrative			(914	)		(1,088	)		(348	)		(418	)		(1,262	)		(1,506	)
	Interest expense			(12	)		(10	)		-			-			(12	)		(10	)
	Arbitration award expense			(5,419	)		-			-			-			(5,419	)		-
	Depreciation and amortization			(106	)		(109	)		(44	)		(43	)		(150	)		(152	)
	Other income, net			3			1			1			43			4			44
	Income (loss) before income tax provision (benefit)			(4,476	)		443			(457	)		66			(4,933	)		509
	Income tax provision (benefit)			(1,462	)		134			(170	)		17			(1,632	)		151
	Net (loss) income		$	(3,014	)	$	309		$	(287	)	$	49		$	(3,301	)	$	358
	Capital expenditures		$	149		$	107		$	751		$	28		$	900		$	135

Other_Income

Other Income	9 Months Ended
	Sep. 30, 2014
Other Income and Expenses [Abstract]	'
Other Income	'
	11	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, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	12	Subsequent Events
	None.

Business_Description_and_Summa1

Business Description and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2014
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 $62,000 at September 30, 2014 and $122,000 at December 31, 2013. 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 $891,000 and $714,000 at September 30, 2014 and December 31, 2013, 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	5-40 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 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, 2014 or December 31, 2013, and did not recognize any interest and/or penalties in its consolidated statements of income during the three or nine months ended September 30, 2014 and 2013.
Supplemental Cash Flow Information	'
	Supplemental Cash Flow Information
	Income taxes paid (net of refunds) during the nine months ended September 30, 2014 amounted to approximately $44,000. Income taxes paid during the nine months ended September 30, 2013 amounted to approximately $136,000. Interest paid during the nine months ended September 30, 2014 and 2013 amounted to approximately $31,000, respectively.
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 annually or whenever events or changes in business circumstances indicate 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, 2014 and December 31, 2013.
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 10, 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.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Business_Description_and_Summa2

Business Description and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2014
Business Description and Summary Of Significant Accounting Policies [Abstract]	'
Schedule of property, plant and equipment estimated useful life	'
	Buildings and improvements	5-40 years
	Machinery and equipment	5-20 years
	Tooling	3-5 years

Inventories_Table

Inventories (Table)	9 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of inventories	'
		September 30,		December 31,
		2014		2013
		($000’s omitted)
	Raw materials and common parts, net of reserve	$	7,046	$	6,832
	Work-in-process		2,540		2,380
	Finished goods, net of reserve		3,264		2,717
	Total inventories	$	12,850	$	11,929

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of property, plant and equipment	'
		September 30,			December 31,
		2014			2013
		($000’s omitted)
	Land	$	21		$	21
	Buildings		7,892			7,851
	Machinery, equipment and tooling		13,291			12,781
	Construction in progress		1,702			477
			22,906			21,130
	Less accumulated depreciation and amortization		(14,749	)		(14,270	)
	Total property, plant and equipment	$	8,157		$	6,860

LongTerm_Debt_Tables

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of long-term debt	'
		September 30,			December 31,
		2014			2013
		($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 (0.29% at September 30, 2014)(A)	$	2,620		$	2,620
	Secured term loan payable to a government agency; monthly payments of $1,950 including interest fixed at 3% payable through fourth quarter of 2015		25			42
			2,645			2,662
	Less current portion		(2,641	)		(2,641	)
		$	4		$	21
	(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 continued 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 .25% 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 currently is in discussion with a financial institution to refinance the $2,620,000 as well as adding up to $2,000,000 in long term financing for existing capital projects at both the ATG and CPG and $2,000,000 to refinance and extend the current line of credit. The Company expects to finalize financing arrangements in the fourth quarter of 2014.

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Schedule of stockholders equity of the company	'
		($000’s omitted except for share data)
		Common stock																		Accumulated
		Number			Amount		Capital in			Retained			ESOT			Treasury			Other			Total
		of shares					excess of			earnings						stock			Comprehensive			Shareholders’
		issued					par value												Loss			Equity
	Balance December 31, 2013		2,614,506		$	523	$	14,024		$	12,302		$	(1,065	)	$	(2,024	)	$	(26	)	$	23,734
	Net loss		-			-		-			(2,999	)		-			-			-			(2,999	)
	Purchase of treasury shares		-			-		-			-			-			(189	)		-			(189	)
	Stock based compensation		-			-		32			-			-			239			-			271
	Balance September 30, 2014		2,614,506		$	523	$	14,056		$	9,303		$	(1,065	)	$	(1,974	)	$	(26	)	$	20,817
Schedule of earnings per share of the company	'
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2014			2013		2014			2013
			($000’s omitted except per share data)
	Net (loss) income	$	(3,301	)	$	358	$	(2,999	)	$	1,039
	Weighted average common shares outstanding (basic)		2,262			2,305		2,265			2,259
	Incremental shares from assumed conversions of stock options		-			-		-			1
	Weighted average common shares outstanding (diluted)		2,262			2,305		2,265			2,260
	Basic
	Net (loss) income per share	$	(1.46	)	$	0.16	$	(1.32	)	$	0.46
	Diluted
	Net (loss) income per share	$	(1.46	)	$	0.16	$	(1.32	)	$	0.46

Business_Segments_Tables

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Schedule of information regarding operations in business segment	'
		ATG						CPG						Consolidated
		Nine Months Ended						Nine Months Ended						Nine Months Ended
		September 30,						September 30,						September 30,
		2014			2013			2014			2013			2014			2013
	Revenues from unaffiliated customers	$	18,002		$	16,709		$	5,014		$	6,427		$	23,016		$	23,136
	Cost of goods sold, exclusive of depreciation and amortization		(12,658	)		(11,978	)		(4,755	)		(5,186	)		(17,413	)		(17,164	)
	Selling, general and administrative		(3,096	)		(2,886	)		(1,085	)		(1,254	)		(4,181	)		(4,140	)
	Interest expense		(31	)		(31	)		-			-			(31	)		(31	)
	Arbitration award expense		(5,419	)		-			-			-			(5,419	)		-
	Depreciation and amortization		(351	)		(328	)		(139	)		(132	)		(490	)		(460	)
	Other income, net		13			1			3			44			16			45
	Income (loss) before income tax provision (benefit)		(3,540	)		1,487			(962	)		(101	)		(4,502	)		1,386
	Income tax (benefit) provision		(1,183	)		375			(320	)		(28	)		(1,503	)		347
	Net (loss) income	$	(2,357	)	$	1,112		$	(642	)	$	(73	)	$	(2,999	)	$	1,039
	Capital expenditures	$	602		$	920		$	1,175		$	204		$	1,777		$	1,124
		ATG						CPG						Consolidated
		Three Months Ended						Three Months Ended						Three Months Ended
		September 30,						September 30,						September 30,
		2014			2013			2014			2013			2014			2013
	Revenues from unaffiliated customers	$	6,443		$	5,520		$	1,588		$	2,207		$	8,031		$	7,727
	Cost of goods sold, exclusive of depreciation and amortization		(4,471	)		(3,871	)		(1,654	)		(1,723	)		(6,125	)		(5,594	)
	Selling, general and administrative		(914	)		(1,088	)		(348	)		(418	)		(1,262	)		(1,506	)
	Interest expense		(12	)		(10	)		-			-			(12	)		(10	)
	Arbitration award expense		(5,419	)		-			-			-			(5,419	)		-
	Depreciation and amortization		(106	)		(109	)		(44	)		(43	)		(150	)		(152	)
	Other income, net		3			1			1			43			4			44
	Income (loss) before income tax provision (benefit)		(4,476	)		443			(457	)		66			(4,933	)		509
	Income tax provision (benefit)		(1,462	)		134			(170	)		17			(1,632	)		151
	Net (loss) income	$	(3,014	)	$	309		$	(287	)	$	49		$	(3,301	)	$	358
	Capital expenditures	$	149		$	107		$	751		$	28		$	900		$	135

Business_Description_and_Summa3

Business Description and Summary of Significant Accounting Policies - Estimated useful lives of depreciable properties (Details)	9 Months Ended
	Sep. 30, 2014
Buildings and improvements	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives of depreciable properties	'5-40 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 $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Business Description and Summary Of Significant Accounting Policies [Abstract]	'	'	'
Allowance for doubtful accounts	$62,000	'	$122,000
Inventory reserve	891,000	'	714,000
Income taxes paid	44,000	136,000	'
Interest paid	$31,000	$31,000	'

Inventories_Summary_of_invento

Inventories - Summary of inventories (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Raw materials and common parts, net of reserve	$7,046	$6,832
Work-in-process	2,540	2,380
Finished goods, net of reserve	3,264	2,717
Total inventories	$12,850	$11,929

Property_Plant_and_Equipment_S

Property, Plant and Equipment - Summary of property, plant and equipment (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	$22,906	$21,130
Less accumulated depreciation and amortization	-14,749	-14,270
Total property, plant and equipment	8,157	6,860
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	7,892	7,851
Machinery, equipment and tooling	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	13,291	12,781
Construction in progress	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	$1,702	$477

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Detail Textuals) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Depreciation expense	$115,000	$117,000	$383,000	$355,000	'
Depreciation and amortization expense	150,000	152,000	490,000	460,000	'
CPG	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Construction in progress	1,702,000	'	1,702,000	'	477,000
ATG	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Construction in progress	1,702,000	'	1,702,000	'	477,000
Land and building | Elma	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Nominal amount of capital lease	5,000,000	'	5,000,000	'	'
Buildings	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Accumulated amortization	2,779,000	'	2,779,000	'	2,682,000
Amortization expense	$32,000	$32,000	$97,000	$97,000	'

LongTerm_Debt_Summary_of_long_

Long-Term Debt - Summary of long term debt (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'		'
Long-term debt	$2,645		$2,662
Less current portion	-2,641		-2,641
Long-term debt, Noncurrent	4		21
Industrial Development Revenue Bonds	'		'
Debt Instrument [Line Items]	'		'
Long-term debt	2,620	[1]	2,620	[1]
Secured term loan payable to government agency	'		'
Debt Instrument [Line Items]	'		'
Long-term debt	$25		$42
[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 continued 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 .25% 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 currently is in discussion with a financial institution to refinance the $2,620,000 as well as adding up to $2,000,000 in long term financing for existing capital projects at both the ATG and CPG and $2,000,000 to refinance and extend the current line of credit. The Company expects to finalize financing arrangements in the fourth quarter of 2014.

LongTerm_Debt_Summary_of_long_1

Long-Term Debt - Summary of long term debt (Parentheticals) (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Industrial Development Revenue Bonds | Letter of credit from bank	'
Debt Instrument [Line Items]	'
Percentage of floating interest rate payable	0.29%
Secured term loan payable to government agency	'
Debt Instrument [Line Items]	'
Frequency of principal payments	'monthly
Monthly principal payments	$1,950
Percentage of fixed interest rate payable	3.00%

LongTerm_Debt_Detail_Textuals

Long-Term Debt (Detail Textuals ) (USD $)	9 Months Ended
	Sep. 30, 2014
ATG	'
Debt Instrument [Line Items]	'
Adding up long term financing for existing capital projects	$2,000,000
CPG	'
Debt Instrument [Line Items]	'
Adding up long term financing for existing capital projects	2,000,000
Line of credit	'
Debt Instrument [Line Items]	'
Unsecured line of credit	2,000,000
Unsecured line of credit remaining	1,000,000
Interest rate	3.25%
Industrial Development Revenue Bonds | Letter of credit from bank	'
Debt Instrument [Line Items]	'
Annual sinking fund payments, commenced on December 1, 2000 through 2013	170,000
Final sinking fund payment due December 1, 2014	$2,620,000
Percentage of annual fee of secured amount	1.00%
Percentage of annual fee of principal amount outstanding	0.25%
Interest rate	0.29%

Shareholders_Equity_Summary_of

Shareholders' Equity - Summary of common shareholders' equity (Details) (USD $)	Common stock	Capital in excess of par value	Retained earnings	ESOT	Treasury stock	Accumulated Other Comprehensive Loss	Total
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2013	$523	$14,024	$12,302	($1,065)	($2,024)	($26)	$23,734
Balance (shares) at Dec. 31, 2013	2,614,506	'	'	'	'	'	2,614,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Net income	'	'	-2,999	'	'	'	-2,999
Purchase of treasury shares	'	'	'	'	-189	'	-189
Stock based compensation	'	32	'	'	239	'	271
Balance at Sep. 30, 2014	$523	$14,056	$9,303	($1,065)	($1,974)	($26)	$20,817
Balance (shares) at Sep. 30, 2014	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 Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Equity [Abstract]	'	'	'	'
Net (loss) income	($3,301)	$358	($2,999)	$1,039
Weighted average common shares outstanding (basic) (in shares)	2,262	2,305	2,265	2,259
Incremental shares from assumed conversions of stock options (in shares)	'	'	'	1
Weighted average common shares outstanding (diluted) (in shares)	2,262	2,305	2,265	2,260
Basic	'	'	'	'
Net (loss) income per share (in dollars per share)	($1.46)	$0.16	($1.32)	$0.46
Diluted	'	'	'	'
Net (loss) income per share (in dollars per share)	($1.46)	$0.16	($1.32)	$0.46

Shareholders_Equity_Detail_Tex

Shareholders' Equity (Detail Textuals) (Share Repurchase Program, USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014
Share Repurchase Program	'
Equity, Class of Treasury Stock [Line Items]	'
Number of common shares authorized to be purchased (in shares)	450,000
Number of common shares purchased (in shares)	329,760
Remaining number of shares authorized to be purchased (in shares)	120,240
Shares purchased during period (in shares)	6,477
Value of stock repurchased (in dollars)	$48,000

Shareholders_Equity_Detail_Tex1

Shareholders' Equity (Detail Textuals 1) (USD $)	1 Months Ended		9 Months Ended
	Jan. 31, 2014	Aug. 18, 2013	Sep. 30, 2014	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	'	'
Number of shares authorized for issuance	'	300,000	'	'
Vesting period of restricted share awards	'	'4 years	'	'
Expense recognized for issuance of restricted shares	'	'	$271,000	$165,000
Compensation expense not yet recognized	'	1,336,500	'	'
Compensation expenses, recognition period	'	'4 years	'	'
Number of restricted stock shares vested	41,250	'	'	'
Number of shares withheld and repurchased	17,345	'	'	'
Value of shares withheld and repurchased	$140,000	'	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Detail Textuals) (USD $)	9 Months Ended				0 Months Ended	1 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Oct. 13, 2014	Oct. 28, 2014
	sqft	Aero Metal Products, Inc. (AMP)	Ontario Knife Company	Termination of employment agreement	Termination of employment agreement	Termination of employment agreement
				Former Executive Officer	Former Executive Officer	Former Executive Officer
					Subsequent event	Subsequent event
Loss Contingencies [Line Items]	'	'	'	'	'	'
Amount of alleged damages	'	$3,000,000	'	$3,535,000	'	$3,534,534
Percentage of interest rate charge on amount of arbitration award from sept 2012	'	'	'	'	'	9.00%
Attorney's fees and disbursements former request by executive officer	'	'	'	'	850,000	'
Interest expenses on settlement of litigation	'	'	'	645,000	'	'
Attorney fees on settlement of litigation	'	'	'	850,000	'	'
Post retirement health related benefits under the employment contract	'	'	'	389,000	'	'
Total expenses on settlement of litigation	'	'	'	5,419,000	'	'
Amount of counter claim	'	3,191,000	'	'	'	'
Amount of grant received from Cattaraugus County, New York	'	'	300,000	'	'	'
Area of additional construction facility for capital improvements	28,000	'	'	'	'	'
Amount of grant received from New York State Community Development Block	'	'	416,000	'	'	'
Cost of the project	4,000,000	'	'	'	'	'
Term of project	'5 years	'	'	'	'	'
Expected project cost	$2,000,000	'	'	'	'	'

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	$8,031	$7,727	$23,016	$23,136
Cost of goods sold, exclusive of depreciation and amortization	-6,125	-5,594	-17,413	-17,164
Selling, general and administrative	-1,262	-1,506	-4,181	-4,140
Interest expense	-12	-10	-31	-31
Arbitration award expense	-5,419	'	-5,419	'
Depreciation and amortization	-150	-152	-490	-460
Other income, net	4	44	16	45
Income (loss) before income tax provision (benefit)	-4,933	509	-4,502	1,386
Income tax (benefit) provision	-1,632	151	-1,503	347
Net (loss) income	-3,301	358	-2,999	1,039
Capital expenditures	'	'	1,777	1,124
Operating Segments	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	8,031	7,727	23,016	23,136
Cost of goods sold, exclusive of depreciation and amortization	-6,125	-5,594	-17,413	-17,164
Selling, general and administrative	-1,262	-1,506	-4,181	-4,140
Interest expense	-12	-10	-31	-31
Arbitration award expense	-5,419	'	-5,419	'
Depreciation and amortization	-150	-152	-490	-460
Other income, net	4	44	16	45
Income (loss) before income tax provision (benefit)	-4,933	509	-4,502	1,386
Income tax (benefit) provision	-1,632	151	-1,503	347
Net (loss) income	-3,301	358	-2,999	1,039
Capital expenditures	900	135	1,777	1,124
Operating Segments | ATG	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	6,443	5,520	18,002	16,709
Cost of goods sold, exclusive of depreciation and amortization	-4,471	-3,871	-12,658	-11,978
Selling, general and administrative	-914	-1,088	-3,096	-2,886
Interest expense	-12	-10	-31	-31
Arbitration award expense	-5,419	'	-5,419	'
Depreciation and amortization	-106	-109	-351	-328
Other income, net	3	1	13	1
Income (loss) before income tax provision (benefit)	-4,476	443	-3,540	1,487
Income tax (benefit) provision	-1,462	134	-1,183	375
Net (loss) income	-3,014	309	-2,357	1,112
Capital expenditures	149	107	602	920
Operating Segments | CPG	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues from unaffiliated customers	1,588	2,207	5,014	6,427
Cost of goods sold, exclusive of depreciation and amortization	-1,654	-1,723	-4,755	-5,186
Selling, general and administrative	-348	-418	-1,085	-1,254
Interest expense	'	'	'	'
Arbitration award expense	'	'	'	'
Depreciation and amortization	-44	-43	-139	-132
Other income, net	1	43	3	44
Income (loss) before income tax provision (benefit)	-457	66	-962	-101
Income tax (benefit) provision	-170	17	-320	-28
Net (loss) income	-287	49	-642	-73
Capital expenditures	$751	$28	$1,175	$204

Business_Segments_Detail_Textu

Business Segments (Detail Textuals) (USD $)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
	Segment
Segment Reporting [Abstract]	'	'
Number of operating segments	2	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	$34,021,000	$30,003,000
Operating Segments	'	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	33,868,000	30,003,000
Operating Segments | ATG	'	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	22,546,000	19,816,000
Operating Segments | CPG	'	'
Segment Reporting Information [Line Items]	'	'
Total identifiable assets	$11,322,000	$10,187,000