Gentherm (THRM) 10-Q 9 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 30, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'THRM	'
Entity Registrant Name	'GENTHERM INC	'
Entity Central Index Key	'0000903129	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	35,273,601

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash & cash equivalents	$57,651	$54,885
Accounts receivable, less allowance of $1,833 and $1,807, respectively	139,083	118,283
Inventory:	'	'
Raw Materials	43,243	33,783
Work in process	2,870	2,864
Finished goods	19,478	27,570
Inventory, net	65,591	64,217
Derivative financial instruments	345	67
Deferred income tax assets	10,448	10,616
Prepaid expenses and other assets	27,923	21,864
Total current assets	301,041	269,932
Property and equipment, net	78,901	79,234
Goodwill	25,830	25,809
Other intangible assets	81,637	83,431
Deferred financing costs	1,059	1,072
Deferred income tax assets	11,686	7,103
Derivative financial instruments	1,704	1,969
Other non-current assets	11,479	13,373
Total assets	513,337	481,923
Current Liabilities:	'	'
Accounts payable	66,198	61,662
Accrued liabilities	65,996	66,783
Current maturities of long-term debt	20,566	21,439
Derivative financial instruments	2,814	2,552
Deferred income tax liabilities	710	710
Total current liabilities	156,284	153,146
Pension benefit obligation	7,036	6,868
Other liabilities	2,770	1,601
Long-term debt, less current maturities	69,762	60,881
Derivative financial instruments	8,455	9,358
Deferred income tax liabilities	17,480	17,975
Total liabilities	261,787	249,829
Common Stock:	'	'
No par value; 55,000,000 shares authorized, 35,260,144 and 34,929,334 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	234,991	232,067
Paid-in capital	-7,678	-9,582
Accumulated other comprehensive loss	-7,154	-5,203
Accumulated earnings	31,391	14,812
Total shareholders’ equity	251,550	232,094
Total liabilities and shareholders’ equity	$513,337	$481,923

Consolidated_Condensed_Balance1

Consolidated Condensed Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowance	$1,833	$1,807
Common Stock, par value	'	'
Common Stock, shares authorized	55,000,000	55,000,000
Common Stock, shares issued	35,260,144	35,260,144
Common Stock, shares outstanding	34,929,334	34,929,334

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Product revenues	$193,938	$148,090
Cost of sales	136,913	109,039
Gross margin	57,025	39,051
Operating expenses:	'	'
Net research and development expenses	13,045	11,841
Acquisition transaction expenses	1,075	1,163
Selling, general and administrative	18,089	16,256
Total operating expenses	32,209	29,260
Operating income	24,816	9,791
Interest expense	-931	-981
Revaluation of derivatives	-247	346
Foreign currency (loss) gain	-1,523	987
Gain realized from step acquisition of subsidiary	785	'
Income from equity investment	'	225
Other income (expense)	-19	336
Earnings before income tax	22,881	10,704
Income tax expense	6,302	795
Net income	16,579	9,909
Income attributable to non-controlling interest	'	-1,258
Net income attributable to Gentherm Incorporated	16,579	8,651
Convertible preferred stock dividends	'	-923
Net income attributable to common shareholders	$16,579	$7,728
Basic earnings per share	$0.47	$0.24
Diluted earnings per share	$0.47	$0.24
Weighted average number of shares – basic	35,063,671	31,606,986
Weighted average number of shares – diluted	35,592,026	32,083,549

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net income	$16,579	$9,909
Other comprehensive income (loss), gross of tax:	'	'
Foreign currency translation adjustments	-2,625	-7,314
Unrealized gain on derivative securities	100	39
Other comprehensive loss, gross of tax	-2,525	-7,275
Other comprehensive loss, related tax effect:	'	'
Foreign currency translation adjustments	574	43
Other comprehensive loss, related tax effect	574	43
Other comprehensive loss, net of tax	-1,951	-7,232
Comprehensive income	14,628	2,677
Less: comprehensive income attributable to the non-controlling interest	'	1,258
Comprehensive income attributable to Gentherm Incorporated	$14,628	$1,419

Consolidated_Condensed_Stateme2

Consolidated Condensed Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating Activities:	'	'
Net income	$16,579	$9,909
Adjustments to reconcile net income to cash provided by operating activities:	'	'
Depreciation and amortization	7,473	7,934
Deferred tax provision	-1,804	-740
Stock compensation	870	491
Defined benefit plan (income) expense	1	-53
Provision of doubtful accounts	-4	434
Gain on revaluation of financial derivatives	-557	-1,244
Gain on equity investment	'	-176
Loss on sale of property, plant and equipment	24	3
Excess tax benefit from equity awards	-2,173	'
Gain realized from step acquisition of subsidiary	-785	'
Changes in operating assets and liabilities:	'	'
Accounts receivable	-21,153	-7,765
Inventory	457	427
Prepaid expenses and other assets	-5,786	-1,511
Accounts payable	2,798	-160
Accrued liabilities	904	2,490
Net cash (used in) provided by operating activities	-3,156	10,039
Investing Activities:	'	'
Purchase of non-controlling interest	'	-40,302
Investment in subsidiary, net of cash acquired	-628	'
Proceeds from the sale of property, plant and equipment	44	1
Purchase of property and equipment	-6,769	-6,116
Net cash used in investing activities	-7,353	-46,417
Financing Activities:	'	'
Borrowing of debt	13,455	40,441
Repayments of debt	-6,965	-5,182
Excess tax benefit from equity awards	2,173	'
Cash paid to Series C Preferred Stock Holders	'	-8,268
Proceeds from the exercise of common stock options	1,634	1,487
Net cash provided by financing activities	10,297	28,478
Foreign currency effect	2,978	-2,275
Net increase (decrease) in cash and cash equivalents	2,766	-10,175
Cash and cash equivalents at beginning of period	54,885	58,152
Cash and cash equivalents at end of period	57,651	47,977
Supplemental disclosure of cash flow information:	'	'
Cash paid for taxes	4,689	1,519
Cash paid for interest	725	474
Supplemental disclosure of non-cash transactions:	'	'
Common stock issued to Board of Directors and employees	495	269
Issuance of common stock to non-controlling interest	'	42,534
Issuance of common stock for Series C Preferred Stock conversion	'	$1,655

Consolidated_Condensed_Stateme3

Consolidated Condensed Statement of Changes In Shareholders' Equity (USD $)	Total	Common Stock	Paid-in Capital	Accumulated Earnings	Accumulated Other Comprehensive Income (Loss)
In Thousands
Beginning Balance at Dec. 31, 2013	$232,094	$232,067	($9,582)	$14,812	($5,203)
Beginning Balance (in shares) at Dec. 31, 2013	'	34,929	'	'	'
Exercise of Common Stock options for cash	1,634	2,278	-644	'	'
Exercise of Common Stock options for cash (in shares)	'	263	'	'	'
Tax benefit from Exercises of Common Stock options	2,324	151	2,173	'	'
Stock option compensation	375	'	375	'	'
Common Stock issued to Board of Directors and employees	495	495	'	'	'
Common Stock issued to Board of Directors and employees (in shares)	'	68	'	'	'
Interest rate hedge, net	39	'	'	'	39
Currency translation, net	-2,051	'	'	'	-2,051
Net income	16,579	'	'	16,579	'
Foreign currency hedge, net	61	'	'	'	61
Ending Balance at Mar. 31, 2014	$251,550	$234,991	($7,678)	$31,391	($7,154)
Ending Balance (in shares) at Mar. 31, 2014	'	35,260	'	'	'

The_Company_and_Subsequent_Eve

The Company and Subsequent Event	3 Months Ended
	Mar. 31, 2014
The Company and Subsequent Event	'
	Note 1 – The Company and Subsequent Event
	Gentherm Incorporated is a global technology and industry leader in the design, development, and manufacturing of innovative thermal management technologies.  Unless the context otherwise requires, the terms “Company”, “we”, “us” and “our” used herein refer to Gentherm Incorporated and its consolidated subsidiaries. We operate in locations aligned with our major customers’ product strategies in order to provide locally enhanced design, integration and production capabilities and to identify future climatic comfort product opportunities in both automotive and other markets.  We concentrate our research on the development of new technologies that will improve overall product effectiveness and customer satisfaction.  We also focus on developing new design applications from our existing technologies to create new products and market opportunities for thermal comfort solutions.
	Buyout of Joint Venture Partner
	On February 12, 2014 we acquired all of the previously unowned shares in our North American electronics manufacturing joint venture which had previously been accounted for under the equity method.  The purchase was accounted for using the acquisition method and resulted in a gain of $785.
	Subsequent Event
	We have evaluated subsequent events through the date that our consolidated financial statements are issued. On April 1, 2014, we acquired all the stock of privately-held Global Thermoelectric Inc. (“GTE”), in an all-cash transaction.  Based in Calgary, GTE is the world’s market leader in industrial thermoelectric generator systems and remote power generation.  Specializing in high reliability systems for remote industrial applications, GTE’s 2013 revenues were approximately $34,000 Canadian dollars.  For the three months ended March 31, 2014, GTE’s revenues were $14,464 Canadian Dollars.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Basis of Presentation	'
	Note 2 – Basis of Presentation
	The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of our results of operations, financial position and cash flows have been included. The balance sheet as of December 31, 2013 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for the three month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These consolidated condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share	'
	Note 3 – Earnings per Share
	Basic earnings per common share are computed by dividing net income by the weighted average number of shares of stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential common shares outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be purchased from the conversion of Common Stock equivalents.
	The following summarizes the common shares included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:
		Three Months
		Ended March 31,
		2014		2013
	Weighted average number of shares for calculation of basic EPS – Common Stock		35,063,671		31,606,986
	Stock option under the 2006 and 2011 Equity Incentive Plans		528,356		476,563
	Weighted average number of shares for calculation of diluted EPS		35,592,026		32,083,549
	Note 3 – Earnings per Share – Continued
	The accompanying table represents Common Stock issuable upon the exercise of certain stock options and Series C Convertible Preferred Stock that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive. There were no issued and outstanding Series C Convertible Preferred Stock during the three months ended March 31, 2014.
		Three Months
		Ended March 31,
		2014		2013
	Stock options outstanding under the 2006 and 2011 Equity Incentive Plans		—		124,000
	Series C Convertible Preferred Stock		—		910,021
			—		1,034,021

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2014
Segment Reporting	'
	Note 4 – Segment Reporting
	Segment information is used by management for making operating decisions and assessing the performance of the Company. As part of the initiative to integrate the operations of historical Gentherm and W.E.T. Automotive Systems AG (“W.E.T.”) (now known as Gentherm GmbH), changes were made to Gentherm’s structure of internal organization.  The financial information used by our chief operating decision maker to assess performance and allocate resources reflects the changes brought about through this initiative.
	Gentherm’s internal structure of organization no longer treats the operations of historical Gentherm and W.E.T. separately.  The integration initiative also expanded the scope of research and development activities classified within the advanced technology segment.   In addition to research and development efforts to improve the efficiency and application of thermoelectric devices, the new advanced technology segment includes research and development spent on Gentherm’s advanced heating wire technology, which had previously been reflected in the W.E.T. segment.  Corporate reconciling items include certain selling, general and administrative costs previously reflected in the W.E.T. segment.
	Management evaluates the performance of the Company’s segments based primarily on operating income or loss.
	The Company’s reportable segments are as follows:
	—	Automotive  – the aggregated operating results from Gentherm’s three geographic operating segments: North America, Europe and Asia.
	—	Advanced Technology – a division engaged in research and development efforts to improve the efficiency of thermoelectric devices, advanced heating wire technology and other applications, and to develop, market and distribute products based on these technologies. The segment includes governmental sponsored research projects, including those sponsored by the U.S. Department of Energy, the German Ministry of Economics and Technology and the European Union.
	—	Reconciling Items – include corporate selling, general and administrative costs and acquisition transaction costs.
	Note 4 – Segment Reporting – Continued
	The following table presents segment information about the reported product revenues and operating income of the Company for the three-month periods ended March 31, 2014 and 2013. Information presented for March 31, 2013 has been restated to conform with our new segment reporting structure.  With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level at this time. Goodwill as of March 31, 2014 and 2013 pertained entirely to our automotive segment.
	Three Months Ended March 31,		Automotive		Advanced				Reconciling			Consolidated
					Technology				Items			Total
	2014:00:00
	Product revenues		$	193,938	$	—			$	—		$	193,938
	Depreciation and amortization			6,655		177				641			7,473
	Operating income (loss)			30,704		(1,713	)			(4,175	)		24,816
	2013:00:00
	Product revenues		$	148,090	$	—			$	—		$	148,090
	Depreciation and amortization			7,432		133				369			7,934
	Operating income (loss)			17,008		(2,257	)			(4,960	)		9,791
	Total product revenues information by geographic area is as follows:
		Three Months Ended March 31,
		2014						2013
	United States	$	85,067		44	%		$	63,312			43	%
	Germany		22,476		12	%			19,985			13	%
	South Korea		21,915		11	%			11,488			8	%
	China		15,944		8	%			14,129			10	%
	Japan		10,465		6	%			9,007			6	%
	United Kingdom		6,600		3	%			4,131			3	%
	Czech Republic		6,086		3	%			3,658			2	%
	Mexico		4,703		2	%			3,441			2	%
	Canada		3,162		2	%			3,518			2	%
	Other		17,520		9	%			15,421			11	%
	Total Foreign		108,871		56	%			84,778			57	%
		$	193,938		100	%		$	148,090			100	%

Debt

Debt	3 Months Ended
	Mar. 31, 2014
Debt	'
	Note 5 – Debt
	We have outstanding credit agreements with a syndicate of banks led by Bank of America (the “US Bank of America credit facility” and the “W.E.T. Bank of America credit facility”).
	The US Bank of America credit facility includes two term notes (referred to as the “US Term Note and Europe Term Note”) and a revolving line of credit note (“US Revolving Note”). The W.E.T. Bank of America credit facility includes a term note (“W.E.T. Term Note”) and a revolving line of credit note (“W.E.T. Revolving Note”).
	In March 2014, Gentherm borrowed $13,455 against the US Revolving Note to partially finance the purchase of GTE on April 1, 2014.  No amounts have been borrowed under W.E.T. Revolving Note as of March 31, 2014.   As of March 31, 2014, $16,545 and €20,000 were available under the US Revolving Note and the WET Revolving Note, respectively. See Note 1 – The Company and Subsequent Event for additional information about the acquisition of GTE.
	Principal outstanding under these credit facilities is due and payable in full on March 30, 2016. Interest is payable quarterly. The Company must maintain a minimum Consolidated Fixed Charge Coverage Ratio and a maximum Leverage Ratio, as defined by the Bank of America credit agreement. The loans are secured by all of the Company’s assets.
	Note 5 – Debt – Continued
	The Company has a fixed interest rate loan with the German Investment Corporation, a subsidiary of KfW banking group, a German government-owned development bank (“DEG Loan”). The DEG Loan is subject to semi-annual principal payments beginning March, 2015 and ending September, 2019. Under the terms of the DEG Loan, the Company must maintain a minimum Debt-to-Equity Ratio, Current Ratio and Debt Service Coverage Ratio based on the financial statements of W.E.T. Automotive Systems (China) Limited, as defined by the DEG Loan agreement.
	The Company has a capital lease agreement for an enterprise resource planning system.  Under the terms of the lease, the Company must maintain certain financial covenants.  Ownership of the system will be transferred to the Company at the end of the agreement.
	The following table summarizes the Company’s debt at March 31, 2014 and at December 31, 2013.
		March 31, 2014						December 31,
								2013
		Interest			Principal			Principal
		Rate			Balance			Balance
	US Term Note		2.5	%	$	23,188		$	24,500
	US Revolving Note		3.47	%		13,561			—
	Europe Term Note		2.5	%		37,211			38,899
	W.E.T. Term Note		2.01	%		8,841			10,920
	DEG Loan		4.25	%		5,516			5,561
	Capital Leases		4.2	%		2,011			2,440
	Total debt					90,328			82,320
	Current portion					(20,566	)		(21,439	)
	Long-term debt, less current maturities				$	69,762		$	60,881
	As of March 31, 2014, we were in compliance with all terms as outlined in the credit agreement for each of the US Bank of America credit facility, the W.E.T. Bank of America credit facility, the DEG loan and the capital lease agreement.

Derivative_Financial_Instrumen

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2014
Derivative Financial Instruments	'
	Note 6 – Derivative Financial Instruments
	We are exposed to market risk from changes in foreign currency exchange rates and short term interest rates. Market risks for changes in interest rates relate primarily to our debt obligations under our Bank of America credit facilities. Foreign currency exchange risks are attributable to sales to foreign customers and purchases from foreign suppliers not denominated in the location’s functional currency, foreign plant operations, intercompany indebtedness and include exposures to the European Euro, Mexican Peso, Canadian Dollar, Hungarian Forint, Ukraine Hryvnia and Korean Won. The Company regularly enters into derivative contracts with the objective of managing its financial and operational exposure arising from this risk by offsetting gains and losses on the underlying exposures with gains and losses on the financial instruments used to hedge them. We do not enter into derivative financial instruments for speculative or trading purposes. Our hedging relationships are formally documented at the inception of the hedge, and hedges must be highly effective in offsetting changes to future cash flows on hedged transactions both at the inception of a hedge and on an ongoing basis to be designated for hedge accounting treatment. We record the ineffective portion of hedging instruments, if any, to other income (expense) in the consolidated condensed statements of income. Though we continuously monitor the hedging program, derivative positions and hedging strategies, foreign currency forward exchange agreements have not always been designated as hedging instruments for accounting purposes.
	The Company uses a market approach to value derivative instruments, analyzing observable benchmark rates at commonly quoted intervals for the instrument’s full term.
	Note 6 – Derivative Financial Instruments – Continued
	Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of March 31, 2014 is as follows:
					Asset Derivatives						Liability Derivatives			Net Asset/
														(Liabilities)
		Hedge	Fair Value		Balance Sheet				Fair		Balance Sheet	Fair
		Designation	Hierarchy		Location				Value		Location	Value
	CRS	Not a hedge	Level 2								Current liabilities	$	2,771
											Non current		8,306
											liabilities
	Total CRS											$	11,077	$	11,077
	Foreign currency derivatives	Cash flow hedge	Level 2			Current assets			$	211	Non current	$	149	$	62
											liabilities
	Foreign currency derivatives	Not a hedge	Level 2			Current assets			$	134				$	134
						Non current				1,704				$	1,704
						assets
	Total foreign currency derivatives								$	2,049		$	149	$	1,900
	Interest rate swap derivatives	Cash flow hedge	Level 2								Current liabilities	$	43	$	43
	Information relating to the effect of derivative instruments on our consolidated condensed income statements is as follows:
		Location	Three Months				Three Months
			Ended				Ended
			March 31,				March 31,
			2014				2013
	Foreign currency derivatives	Revaluation of derivatives	$	262				(974	)
		Cost of Sales		53				—
		Selling, general and administrative		48				—
		Other Comprehensive Income		61				—
		Foreign currency gain (loss)		(453	)			(291	)
	Total foreign currency derivatives		$	(29	)		$	(1,265	)
	CRS	Revaluation of derivatives	$	(509	)		$	1,320
	Interest Rate Swap	Interest Expense	$	—			$	(1	)
		Other Comprehensive Income		39				39
	We did not incur any hedge ineffectiveness during the three months ended March 31, 2014 and 2013.

Fair_Value_Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2014
Fair Value Measurement	'
	Note 7 – Fair Value Measurement
	The Company bases fair value on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We have adopted a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:
	Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.
	Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.
	Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.
	Note 7 – Fair Value Measurement – Continued
	In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value.
	Except for derivative instruments, pension liabilities and pension plan assets, the Company has no financial assets and liabilities that are carried at fair value at March 31, 2014 and 2013. The carrying amounts of financial instruments comprising cash and cash equivalents and accounts receivable approximate their fair values due to their short-term nature. The carrying value of the Company’s long-term debt approximates its fair value because interest charged on the loan balance is variable. See Note 6 regarding the fair value of derivative instruments and hedging activities.
	Certain Company assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. As of March 31, 2014 and 2013, the Company did not realize any changes to the fair value of these assets due to events that negatively impacted their recoverability.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Basic and Diluted Shares of Consolidated Condensed Statements of Income	'
	The following summarizes the common shares included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:
		Three Months
		Ended March 31,
		2014		2013
	Weighted average number of shares for calculation of basic EPS – Common Stock		35,063,671		31,606,986
	Stock option under the 2006 and 2011 Equity Incentive Plans		528,356		476,563
	Weighted average number of shares for calculation of diluted EPS		35,592,026		32,083,549
Common Stock Issuable upon Exercise of Certain Stock Options	'
	The accompanying table represents Common Stock issuable upon the exercise of certain stock options and Series C Convertible Preferred Stock that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive. There were no issued and outstanding Series C Convertible Preferred Stock during the three months ended March 31, 2014.
		Three Months
		Ended March 31,
		2014		2013
	Stock options outstanding under the 2006 and 2011 Equity Incentive Plans		—		124,000
	Series C Convertible Preferred Stock		—		910,021
			—		1,034,021

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Information about Reported Product Revenues and Operating Income	'
	The following table presents segment information about the reported product revenues and operating income of the Company for the three-month periods ended March 31, 2014 and 2013. Information presented for March 31, 2013 has been restated to conform with our new segment reporting structure.  With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level at this time. Goodwill as of March 31, 2014 and 2013 pertained entirely to our automotive segment.
	Three Months Ended March 31,		Automotive		Advanced				Reconciling			Consolidated
					Technology				Items			Total
	2014:00:00
	Product revenues		$	193,938	$	—			$	—		$	193,938
	Depreciation and amortization			6,655		177				641			7,473
	Operating income (loss)			30,704		(1,713	)			(4,175	)		24,816
	2013:00:00
	Product revenues		$	148,090	$	—			$	—		$	148,090
	Depreciation and amortization			7,432		133				369			7,934
	Operating income (loss)			17,008		(2,257	)			(4,960	)		9,791
Product Revenues Information by Geographic Area	'
	Total product revenues information by geographic area is as follows:
		Three Months Ended March 31,
		2014						2013
	United States	$	85,067		44	%		$	63,312			43	%
	Germany		22,476		12	%			19,985			13	%
	South Korea		21,915		11	%			11,488			8	%
	China		15,944		8	%			14,129			10	%
	Japan		10,465		6	%			9,007			6	%
	United Kingdom		6,600		3	%			4,131			3	%
	Czech Republic		6,086		3	%			3,658			2	%
	Mexico		4,703		2	%			3,441			2	%
	Canada		3,162		2	%			3,518			2	%
	Other		17,520		9	%			15,421			11	%
	Total Foreign		108,871		56	%			84,778			57	%
		$	193,938		100	%		$	148,090			100	%

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2014
Summary of Company's Debt	'
	The following table summarizes the Company’s debt at March 31, 2014 and at December 31, 2013.
		March 31, 2014						December 31,
								2013
		Interest			Principal			Principal
		Rate			Balance			Balance
	US Term Note		2.5	%	$	23,188		$	24,500
	US Revolving Note		3.47	%		13,561			—
	Europe Term Note		2.5	%		37,211			38,899
	W.E.T. Term Note		2.01	%		8,841			10,920
	DEG Loan		4.25	%		5,516			5,561
	Capital Leases		4.2	%		2,011			2,440
	Total debt					90,328			82,320
	Current portion					(20,566	)		(21,439	)
	Long-term debt, less current maturities				$	69,762		$	60,881

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet	'
	Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of March 31, 2014 is as follows:
					Asset Derivatives						Liability Derivatives			Net Asset/
														(Liabilities)
		Hedge	Fair Value		Balance Sheet				Fair		Balance Sheet	Fair
		Designation	Hierarchy		Location				Value		Location	Value
	CRS	Not a hedge	Level 2								Current liabilities	$	2,771
											Non current		8,306
											liabilities
	Total CRS											$	11,077	$	11,077
	Foreign currency derivatives	Cash flow hedge	Level 2			Current assets			$	211	Non current	$	149	$	62
											liabilities
	Foreign currency derivatives	Not a hedge	Level 2			Current assets			$	134				$	134
						Non current				1,704				$	1,704
						assets
	Total foreign currency derivatives								$	2,049		$	149	$	1,900
	Interest rate swap derivatives	Cash flow hedge	Level 2								Current liabilities	$	43	$	43
Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Income Statements	'
	Information relating to the effect of derivative instruments on our consolidated condensed income statements is as follows:
		Location	Three Months				Three Months
			Ended				Ended
			March 31,				March 31,
			2014				2013
	Foreign currency derivatives	Revaluation of derivatives	$	262				(974	)
		Cost of Sales		53				—
		Selling, general and administrative		48				—
		Other Comprehensive Income		61				—
		Foreign currency gain (loss)		(453	)			(291	)
	Total foreign currency derivatives		$	(29	)		$	(1,265	)
	CRS	Revaluation of derivatives	$	(509	)		$	1,320
	Interest Rate Swap	Interest Expense	$	—			$	(1	)
		Other Comprehensive Income		39				39

The_Company_and_Subsequent_Eve1

The Company and Subsequent Event - Additional Information (Detail)	3 Months Ended	0 Months Ended	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Feb. 12, 2014	Mar. 31, 2014	Dec. 31, 2013
	USD ($)	North American Electronics Manufacturing Joint Venture	GTE	GTE
		USD ($)	CAD	CAD
Nature Of Company [Line Items]	'	'	'	'
Gain realized from step acquisition of subsidiary	$785	$785	'	'
Revenues	'	'	14,464	34,000

Earnings_per_Share_Detail

Earnings per Share (Detail)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'
Weighted average number of shares for calculation of basic EPS – Common Stock	35,063,671	31,606,986
Stock option under the 2006 and 2011 Equity Incentive Plans	528,356	476,563
Weighted average number of shares for calculation of diluted EPS	35,592,026	32,083,549
Common stock that have been excluded from the diluted shares calculation	'	1,034,021
Stock options outstanding under the 2006 and 2011 Equity Incentive Plans	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'
Common stock that have been excluded from the diluted shares calculation	'	124,000
Series C Convertible Preferred Stock	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'
Common stock that have been excluded from the diluted shares calculation	'	910,021

Earnings_per_Share_Additional_

Earnings per Share - Additional Information (Detail) (Series C Convertible Preferred Stock)	Mar. 31, 2014
Series C Convertible Preferred Stock	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0

Segment_Information_about_Repo

Segment Information about Reported Product Revenues and Operating Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Product revenues	$193,938	$148,090
Depreciation and amortization	7,473	7,934
Operating income (loss)	24,816	9,791
Automotive	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	193,938	148,090
Depreciation and amortization	6,655	7,432
Operating income (loss)	30,704	17,008
Advanced Technology	'	'
Segment Reporting Information [Line Items]	'	'
Depreciation and amortization	177	133
Operating income (loss)	-1,713	-2,257
Reconciling Items	'	'
Segment Reporting Information [Line Items]	'	'
Depreciation and amortization	641	369
Operating income (loss)	($4,175)	($4,960)

Segment_Reporting_Detail

Segment Reporting (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Product revenues	$193,938	$148,090
Total product revenues in percentage	100.00%	100.00%
United States	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	85,067	63,312
Total product revenues in percentage	44.00%	43.00%
Germany	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	22,476	19,985
Total product revenues in percentage	12.00%	13.00%
South Korea	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	21,915	11,488
Total product revenues in percentage	11.00%	8.00%
China	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	15,944	14,129
Total product revenues in percentage	8.00%	10.00%
Japan	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	10,465	9,007
Total product revenues in percentage	6.00%	6.00%
United Kingdom	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	6,600	4,131
Total product revenues in percentage	3.00%	3.00%
Czech Republic	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	6,086	3,658
Total product revenues in percentage	3.00%	2.00%
Mexico	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	4,703	3,441
Total product revenues in percentage	2.00%	2.00%
Canada	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	3,162	3,518
Total product revenues in percentage	2.00%	2.00%
Other	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	17,520	15,421
Total product revenues in percentage	9.00%	11.00%
Total Foreign	'	'
Segment Reporting Information [Line Items]	'	'
Product revenues	$108,871	$84,778
Total product revenues in percentage	56.00%	57.00%

Debt_Additional_Information_De

Debt - Additional Information (Detail)	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	US Revolving Note	W.E.T. Revolving Note	W.E.T. Revolving Note
	USD ($)	USD ($)	EUR (€)
Debt Disclosure [Line Items]	'	'	'
Debt instrument face amount	$13,455	$0	'
Line of credit available amount	$16,545	'	€ 20,000

Summary_of_Companys_Debt_Detai

Summary of Company's Debt (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Total debt	$90,328	$82,320
Current portion	-20,566	-21,439
Long-term debt, less current maturities	69,762	60,881
US Term Note	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	2.50%	'
Total debt	23,188	24,500
US Revolving Note	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	3.47%	'
Total debt	13,561	'
Europe Term Note	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	2.50%	'
Total debt	37,211	38,899
W.E.T. Term Note	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	2.01%	'
Total debt	8,841	10,920
DEG Loan	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	4.25%	'
Total debt	5,516	5,561
Capital Leases	'	'
Debt Instrument [Line Items]	'	'
Interest Rate	4.20%	'
Total debt	$2,011	$2,440

Information_Related_to_Recurri

Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Asset Derivatives, Fair Value, Total	$2,049
Fair Value, Inputs, Level 2 | Foreign Currency Derivatives | Noncurrent Assets	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Asset Derivatives, Fair Value, Total	1,704
Fair Value, Inputs, Level 2 | Currency Related Swap	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Net Asset/(Liabilities)	11,077
Fair Value, Inputs, Level 2 | Designated as Hedging Instrument | Foreign Currency Derivatives | Noncurrent Liabilities	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	149
Fair Value, Inputs, Level 2 | Designated as Hedging Instrument | Interest Rate Swap | Current Liabilities	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	43
Net Asset/(Liabilities)	43
Fair Value, Inputs, Level 2 | Not a hedge | Foreign Currency Derivatives	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	149
Net Asset/(Liabilities)	1,900
Fair Value, Inputs, Level 2 | Not a hedge | Foreign Currency Derivatives | Noncurrent Assets	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Net Asset/(Liabilities)	1,704
Fair Value, Inputs, Level 2 | Not a hedge | Currency Related Swap	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	11,077
Fair Value, Inputs, Level 2 | Not a hedge | Currency Related Swap | Current Liabilities	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	2,771
Fair Value, Inputs, Level 2 | Not a hedge | Currency Related Swap | Noncurrent Liabilities	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Liability Derivatives, Fair value	8,306
Fair Value, Inputs, Level 2 | Contract One | Designated as Hedging Instrument | Foreign Currency Derivatives | Current Assets	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Asset Derivatives, Fair Value, Total	211
Fair Value, Inputs, Level 2 | Contract One | Designated as Hedging Instrument | Foreign Currency Derivatives | Noncurrent Liabilities	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Net Asset/(Liabilities)	62
Fair Value, Inputs, Level 2 | Contract Two | Not a hedge | Foreign Currency Derivatives | Current Assets	'
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]	'
Asset Derivatives, Fair Value, Total	134
Net Asset/(Liabilities)	$134

Information_Related_to_Effect_

Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Income Statements (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	($29)	($1,265)
Revaluation Of Derivatives | Foreign Currency Derivatives	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	262	-974
Revaluation Of Derivatives | Currency Related Swap	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	-509	1,320
Cost of Sales | Foreign Currency Derivatives	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	53	'
Selling General And Administrative | Foreign Currency Derivatives	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	48	'
Other Comprehensive Income (Loss) | Foreign Currency Derivatives	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	61	'
Other Comprehensive Income (Loss) | Interest Rate Swap	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	39	39
Foreign Currency Gain (Loss) | Foreign Currency Derivatives	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	-453	-291
Interest Expense | Interest Rate Swap	'	'
Derivative Instruments Gain Loss [Line Items]	'	'
Gain (loss) on derivatives	'	($1)