Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 26, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'Black Diamond, Inc. | ' | ' |
Entity Central Index Key | '0000913277 | ' | ' |
Trading Symbol | 'bde | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $213.80 |
Entity Common Stock, Shares Outstanding | ' | 32,478,247 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash | $4,478 | $5,111 |
Accounts receivable, net | 40,316 | 30,925 |
Inventories | 54,054 | 60,664 |
Prepaid and other current assets | 4,797 | 4,846 |
Income tax receivable | 49 | 659 |
Deferred income taxes | 2,687 | 2,337 |
Total current assets | 106,381 | 104,542 |
Property and equipment, net | 17,401 | 17,508 |
Definite lived intangible assets, net | 35,530 | 38,100 |
Indefinite lived intangible assets | 51,679 | 51,462 |
Goodwill | 57,703 | 57,481 |
Deferred income taxes | 50,666 | 49,631 |
Other long-term assets | 2,063 | 2,062 |
Total assets | 321,423 | 320,786 |
Current liabilities | ' | ' |
Accounts payable and accrued liabilities | 27,349 | 22,178 |
Current portion of long-term debt | 1,910 | 4,059 |
Total current liabilities | 29,259 | 26,237 |
Long-term debt | 36,131 | 36,429 |
Deferred income taxes | 6,786 | 8,114 |
Other long-term liabilities | 1,997 | 2,000 |
Total liabilities | 74,173 | 72,780 |
Stockholders' Equity | ' | ' |
Preferred stock, $.0001 par value; 5,000 shares authorized; none issued | ' | ' |
Common stock, $.0001 par value; 100,000 shares authorized; 32,526 and 31,838 issued and 32,451 and 31,763 outstanding | 3 | 3 |
Additional paid in capital | 477,890 | 473,628 |
Accumulated deficit | -237,204 | -231,334 |
Treasury stock, at cost | -2 | -2 |
Accumulated other comprehensive income | 6,563 | 5,711 |
Total stockholders' equity | 247,250 | 248,006 |
Total liabilities and stockholders' equity | $321,423 | $320,786 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Balance Sheets | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 32,526,000 | 31,838,000 |
Common stock, shares outstanding | 32,451,000 | 31,763,000 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Sales | ' | ' | ' |
Domestic sales | $78,855 | $74,600 | $62,813 |
International sales | 124,181 | 101,277 | 82,962 |
Total sales | 203,036 | 175,877 | 145,775 |
Cost of goods sold | 125,551 | 108,613 | 89,423 |
Gross profit | 77,485 | 67,264 | 56,352 |
Operating expenses | ' | ' | ' |
Selling, general and administrative | 81,381 | 62,590 | 50,493 |
Restructuring charge | 175 | 225 | 993 |
Merger and integration | 565 | 244 | ' |
Transaction costs | 54 | 2,029 | ' |
Total operating expenses | 82,175 | 65,088 | 51,486 |
Operating (loss) income | -4,690 | 2,176 | 4,866 |
Other (expense) income | ' | ' | ' |
Interest expense, net | -3,583 | -2,958 | -2,889 |
Other, net | 330 | 870 | 227 |
Total other expense, net | -3,253 | -2,088 | -2,662 |
(Loss) income before income tax | -7,943 | 88 | 2,204 |
Income tax benefit | -2,073 | -1,864 | -2,688 |
Net (loss) income | -5,870 | 1,952 | 4,892 |
Other comprehensive (loss) income, net of tax: | ' | ' | ' |
Foreign currency translation adjustment | 1,294 | 3,642 | 376 |
Unrealized (loss) income on hedging activities | -442 | -675 | 743 |
Other comprehensive income | 852 | 2,967 | 1,119 |
Comprehensive (loss) income | ($5,018) | $4,919 | $6,011 |
(Loss) earnings per share: | ' | ' | ' |
Basic | ($0.18) | $0.07 | $0.22 |
Diluted | ($0.18) | $0.06 | $0.22 |
Weighted average shares outstanding: | ' | ' | ' |
Basic | 32,007 | 29,817 | 21,845 |
Diluted | 32,007 | 30,126 | 22,046 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities: | ' | ' | ' |
Net (loss) income | ($5,870) | $1,952 | $4,892 |
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | ' | ' | ' |
Depreciation of property and equipment | 4,696 | 3,685 | 3,351 |
Amortization of intangible assets | 3,583 | 2,268 | 1,331 |
Accretion of notes payable | 1,162 | 1,025 | 993 |
Loss on disposition of assets | 59 | 39 | 213 |
Stock-based compensation | 3,010 | 1,766 | 3,091 |
Excess tax benefit from stock-based compensation | 64 | 33 | ' |
Deferred income taxes | -1,911 | -2,573 | -2,655 |
Changes in operating assets and liabilities, net of acquisitions: | ' | ' | ' |
Accounts receivable | -8,903 | -4,976 | -2,317 |
Inventories | 7,430 | -2,391 | -11,582 |
Prepaid and other current assets | -312 | -2,782 | 1,125 |
Accounts payable and accrued liabilities | 4,463 | -1,487 | -3,509 |
Net cash provided by (used in) operating activities | 7,471 | -3,441 | -5,067 |
Cash Flows From Investing Activities: | ' | ' | ' |
Purchase of businesses, net of cash received | ' | -50,327 | ' |
Purchase of intangible assets | -750 | ' | ' |
Proceeds from disposition of property and equipment | 38 | 31 | 30 |
Purchase of property and equipment | -4,364 | -5,496 | -2,784 |
Net cash used in investing activities | -5,076 | -55,792 | -2,754 |
Cash Flows From Financing Activities: | ' | ' | ' |
Net (repayments of) proceeds from revolving lines of credit | -12,771 | -1,497 | 7,621 |
Repayments of long-term debt | -1,158 | -1,585 | -361 |
Proceeds from issuance of long-term debt | 10,216 | ' | ' |
Proceeds from exercise of stock options | 1,188 | 2,761 | 150 |
Proceeds from the sale of common stock, net | ' | 62,562 | ' |
Net cash (used in) provided by financing activities | -2,525 | 62,241 | 7,410 |
Effect of foreign exchange rates on cash | -503 | -297 | 44 |
Change in cash | -633 | 2,711 | -367 |
Cash, beginning of period | 5,111 | 2,400 | 2,767 |
Cash, end of period | 4,478 | 5,111 | 2,400 |
Supplemental Disclosure of Cash Flow Information: | ' | ' | ' |
Cash (received) paid for income taxes | -301 | 881 | -46 |
Cash paid for interest | 2,320 | 1,834 | 1,853 |
Supplemental Disclosures of Non-Cash Investing and Financing Activities: | ' | ' | ' |
Stock issued for acquisitions | ' | 3,791 | ' |
Property and equipment purchased with accounts payable | $185 | ' | ' |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income [Member] | Total |
In Thousands | ||||||
Balance at Dec. 31, 2010 | $2 | $399,475 | ($238,178) | ($2) | $1,625 | $162,922 |
Balance, shares at Dec. 31, 2010 | 21,814 | ' | ' | -75 | ' | ' |
Net (loss) income | ' | ' | 4,892 | ' | ' | 4,892 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | 1,119 | 1,119 |
Stock compensation plans, net, value | ' | 3,241 | ' | ' | ' | 3,241 |
Stock compensation plans, net, shares | 25 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 2 | 402,716 | -233,286 | -2 | 2,744 | 172,174 |
Balance, shares at Dec. 31, 2011 | 21,839 | ' | ' | -75 | ' | ' |
Net (loss) income | ' | ' | 1,952 | ' | ' | 1,952 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | 2,967 | 2,967 |
Stock compensation plans, net, value | ' | 4,527 | ' | ' | ' | 4,527 |
Stock compensation plans, net, shares | 626 | ' | ' | ' | ' | ' |
Shares issued in acquisition, value | ' | 3,791 | ' | ' | ' | 3,791 |
Shares issued in acquisition, shares | 460 | ' | ' | ' | ' | ' |
Issuance of common stock, value | 1 | 62,561 | ' | ' | ' | 62,562 |
Issuance of common stock, shares | 8,913 | ' | ' | ' | ' | ' |
Tax benefit from employee stock options | ' | 33 | ' | ' | ' | 33 |
Balance at Dec. 31, 2012 | 3 | 473,628 | -231,334 | -2 | 5,711 | 248,006 |
Balance, shares at Dec. 31, 2012 | 31,838 | ' | ' | -75 | ' | ' |
Net (loss) income | ' | ' | -5,870 | ' | ' | -5,870 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | 852 | 852 |
Stock compensation plans, net, value | ' | 4,198 | ' | ' | ' | 4,198 |
Stock compensation plans, net, shares | 688 | ' | ' | ' | ' | 3 |
Tax benefit from employee stock options | ' | 64 | ' | ' | ' | 64 |
Balance at Dec. 31, 2013 | $3 | $477,890 | ($237,204) | ($2) | $6,563 | $247,250 |
Balance, shares at Dec. 31, 2013 | 32,526 | ' | ' | -75 | ' | ' |
Nature_Of_Operations_And_Summa
Nature Of Operations And Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | ' |
Nature Of Operations And Summary Of Significant Accounting Policies | ' |
NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The accompanying audited consolidated financial statements of Black Diamond, Inc. and subsidiaries (“Black Diamond” or the “Company,” which may be referred to as “we,” “us,” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). | |
Nature of Business | |
Black Diamond, Inc. is a global leader in designing, manufacturing and marketing innovative active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing, cycling and a wide range of other year-round outdoor recreation activities. Our principal brands include Black Diamond®, Gregory™, POC™ and PIEPS™ and are targeted not only to the demanding requirements of core climbers, skiers and cyclists, but also to the more general outdoor performance enthusiasts and consumers interested in outdoor-inspired gear for their backcountry and urban activities. Our Black Diamond®, Gregory™, POC™ and PIEPS™ brands are iconic in the active outdoor ski and cycling industries and linked intrinsically with the modern history of the sports we serve. We believe our brands are synonymous with the performance, innovation, durability and safety that the outdoor and action sports communities rely on and embrace in their active lifestyle. | |
On May 28, 2010, we acquired Black Diamond Equipment, Ltd. (which may be referred to as “Black Diamond Equipment” or “BDEL”) and Gregory Mountain Products. On January 20, 2011, the Company changed its name from Clarus Corporation to Black Diamond, Inc., which we believe more accurately reflects our current business. In June 2012 we acquired POC Sweden AB and its subsidiaries (collectively, “POC”) and in October 2012 we acquired PIEPS Holding GmbH and its subsidiaries (collectively, “PIEPS”). | |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Some of the more significant estimates relate to derivatives, revenue recognition, income taxes, and valuation of long-lived assets, goodwill, and other intangible assets. We base our estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates. | |
Significant Accounting Policies | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of Black Diamond and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Foreign Currency Transactions and Translation | |
The accounts of the Company’s international subsidiaries’ financial statements are translated into U.S. dollars using the exchange rate at the balance sheet dates for assets and liabilities and the weighted average exchange rate for the periods for revenues, expenses, gains and losses. Foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive income. Foreign currency transaction gains and losses are included in other (expense) income in the consolidated statements of comprehensive (loss) income. | |
Cash Equivalents | |
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. At December 31, 2013 and 2012, the Company did not hold any amounts that were considered to be cash equivalents. | |
Accounts Receivable and Allowance for Doubtful Accounts | |
The Company records its trade receivables at sales value and establishes a non-specific reserve for estimated doubtful accounts based on a percentage of outstanding trade receivables. In addition, specific reserves are established for customer accounts as known collection problems occur due to insolvency, disputes or other collection issues. The amounts of these specific reserves are estimated by management based on the customer’s financial position, the age of the customer’s receivables and the reasons for any disputes. The allowance for doubtful accounts is reduced by any write-off of uncollectible customer accounts. Interest is charged on trade receivables that are outstanding beyond the payment terms and is recognized as it is charged. The allowance for doubtful accounts was $641 and $499 at December 31, 2013 and 2012. There were no significant write-offs of the Company’s accounts receivable during the years ended December 31, 2013, 2012, and 2011. | |
Inventories | |
Inventories are stated at the lower of cost (using the first-in, first-out method “FIFO”) or market value. Elements of cost in the Company’s manufactured inventories generally include raw materials, direct labor, manufacturing overhead and freight in. The Company periodically reviews its inventories for excess, close-out, or slow moving items and makes provisions as necessary to properly reflect inventory values. | |
Property and Equipment | |
Property and equipment is stated at historical cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives or estimated units of production. The principal estimated useful lives are: building improvements, 20 years; computer hardware and software and machinery and equipment, 3-10 years – except for certain tooling costs, which are based on units of production; furniture and fixtures, 5 years. Leasehold improvements are amortized over the lesser of the estimated useful life of the improvement, or the life of the lease. Equipment under capital leases are stated at the present value of minimum lease payments. Major replacements, which extend the useful lives of equipment, are capitalized and depreciated over the remaining useful life. Normal maintenance and repair items are expensed as incurred. | |
Goodwill and Other Intangible Assets | |
Goodwill resulted from acquisitions and represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets. Goodwill and indefinite lived intangible assets are not amortized, but rather tested for impairment on an annual basis or more often if events or circumstances indicate a potential impairment exists. Definite lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable. | |
Derivative Financial Instruments | |
The Company uses derivative instruments to hedge currency rate movements on foreign currency denominated sales. The Company enters into forward contracts, option contracts and non-deliverable forwards to manage the impact of foreign currency fluctuations on a portion of its forecasted foreign currency exposure. These derivatives are carried at fair value on the Company’s consolidated balance sheets in prepaid and other current assets, other long-term assets, accounts payable and accrued liabilities, and other long-term liabilities. Changes in fair value of the derivatives not designated as hedge instruments are included in the determination of net income. For derivative contracts designated as hedge instruments, the effective portion of gains and losses resulting from changes in fair value of the instruments are included in accumulated other comprehensive income and reclassified to sales in the period the underlying hedged item is recognized in earnings. The Company uses operating budgets and cash flow forecasts to estimate future economic exposure and to determine the level and timing of derivative transactions intended to mitigate such exposures in accordance with its risk management policies. | |
Stock-Based Compensation | |
The Company records compensation expense for all share-based awards granted based on the fair value of the award at the time of the grant. The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model that uses assumptions and estimates that the Company believes are reasonable. Stock-based compensation costs for stock awards and restricted stock awards is measured based on the closing fair market value of the Company’s common stock on the date of the grant. The Company recognizes the cost of the share-based awards on a straight-line basis over the requisite service period of the award. | |
Revenue Recognition | |
The Company sells its products pursuant to customer orders or sales contracts entered into with its customers. Revenue is recognized when title and risk of loss pass to the customer and when collectability is reasonably assured. Charges for shipping and handling fees billed to customers are included in net sales and the corresponding shipping and handling expenses are included in cost of sales in the accompanying consolidated statements of comprehensive (loss) income. | |
At the time of revenue recognition, we also provide for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from these estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that we have established, we will record a reduction or increase to sales in the period in which we make such a determination. Over the three-year period ended December 31, 2013, our actual annual sales returns have been less than 2 percent of net sales. The allowance for outstanding sales returns from customers is insignificant to the consolidated financial statements. | |
Cost of Sales | |
The expenses that are included in cost of sales include all direct product costs and costs related to shipping, handling, duties and importation fees. Product warranty costs and specific provisions for excess, close-out, or slow moving inventory are also included in cost of sales. PIEPS has implemented a voluntary recall of all of its PIEPS VECTOR avalanche transceivers due to functional issues that may not be readily apparent to a user of this product. As a result of the voluntary recall the Company incurred a charge of $1,541 in costs of sales during the year ended December 31, 2013 and does not anticipate incurring any further charges as a result of the recall. | |
Selling, General and Administrative Expense | |
Selling, general and administrative expense includes personnel-related costs, product development, selling, advertising, depreciation and amortization, and other general operating expenses. Advertising costs are expensed in the period incurred. Total advertising expense was $3,422, $1,973, and $1,790 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Product Warranty | |
Some of the Company’s products carry warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company’s history of warranty repairs and replacements and is recorded in cost of sales. The Company has not experienced significant warranty claims on its products. | |
Reporting of Taxes Collected | |
Taxes collected from customers and remitted to government authorities are reported on the net basis and are excluded from sales. | |
Research and Development | |
Research and development costs are charged to expense as incurred, and are included in selling, general and administrative expenses in the accompanying consolidated statements of operations. Total research and development costs were $10,069, $5,520, and $4,690 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Income Taxes | |
Income Taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pretax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries where such earnings are considered to be permanently invested. | |
Concentration of Credit Risk and Sales | |
Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and accounts receivable. Risks associated with cash within the United States are mitigated by banking with federally insured, creditworthy institutions. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses as considered necessary by management. | |
During the years ended December 31, 2013 and 2012, Recreational Equipment, Inc. (“REI”) accounted for approximately 12% and 14%, respectively, of the Company’s sales. | |
Fair Value Measurements | |
The carrying value of cash, accounts receivable, accounts payable and accrued liabilities approximate their respective fair values due to the short-term nature and liquidity of these financial instruments. Derivative financial instruments are recorded at fair value based on current market pricing models. The Company estimates that, based on current market conditions, the fair value of its long-term debt obligations under its revolving credit facility and senior subordinated notes payable approximate the carrying values at December 31, 2013. | |
Segment Information | |
The Company has determined that during 2013, 2012, and 2011, the Company operated in one principal business segment. | |
Recent Accounting Pronouncements | |
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 establishes new requirements for disclosing reclassifications of items out of accumulated other comprehensive income and includes identification of the line items in net earnings affected by the reclassifications. This standard is effective for annual and interim periods for fiscal years beginning after December 15, 2012 (for us this was our 2013 first quarter). The Company adopted the provisions of this update during the three months ended March 31, 2013, which provides additional detail on those financial statements as applicable, but did not have any other impact on our financial statements. | |
In March 2013, the FASB issued Accounting Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard defines the treatment of the release of cumulative translation adjustments upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in a foreign entity. This standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted and prior periods should not be adjusted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. | |
Public_Offering
Public Offering | 12 Months Ended |
Dec. 31, 2013 | |
Public Offering [Abstract] | ' |
Public Offering | ' |
NOTE 2. PUBLIC OFFERING | |
On February 22, 2012, Black Diamond consummated the closing of a public offering (the “Offering”) of 7,750 shares of the Company’s common stock, plus an additional 1,163 shares of common stock to cover an over-allotment option granted to the underwriters, at a price to the public of $7.50 per share (the “Offering Price”). Included in the total number of shares of common stock sold in the Offering were 1,333 shares of common stock purchased at the Offering Price by certain of the Company’s officers, directors and employees (the “Reserved Shares”). The Reserved Shares were subject to lock-up agreements restricting the sales of such shares for a period of 90 days, subject to extension under certain circumstances. The underwriters received an underwriting discount of 6%, or $0.45 per share, in connection with the sale of the shares of common stock in the Offering, other than with respect to the sale of the Reserved Shares, for which the underwriters did not receive any underwriting discount. The underwriters exercised the overallotment option in full at the closing of the Offering. The net proceeds to the Company from the Offering, before expenses, were approximately $63,400. The common stock was offered and sold pursuant to a prospectus dated February 1, 2011, a preliminary prospectus supplement filed with the Commission on February 15, 2012 and a prospectus supplement filed with the SEC on February 17, 2012, in connection with a takedown from the Company’s shelf registration statement on Form S-3 (File No. 333-171164) declared effective by the SEC on February 1, 2011. | |
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Acquisitions [Abstract] | ' | |||
Acquisitions | ' | |||
NOTE 3. ACQUISITIONS | ||||
POC Sweden AB | ||||
On July 2, 2012, the Company acquired all of the issued and outstanding shares of capital stock of POC Sweden AB (“POC”), a Stockholm-based developer and manufacturer of protective gear for action sports athletes pursuant to the terms of the Share Transfer Agreement dated as of June 7, 2012, and as amended on July 2, 2012, by and among the Company, Ember Scandinavia AB, a Swedish corporation and a wholly owned subsidiary of the Company, and the shareholders of POC. | ||||
PIEPS Holding GmbH | ||||
On October 1, 2012, the Company acquired all of the issued and outstanding shares of capital stock of PIEPS Holding GmbH and its subsidiaries PIEPS GmbH and Pieps Corporation (collectively, “PIEPS”), a leading Austrian designer and marketer of avalanche beacons and snow safety products pursuant to the terms of the Share Purchase Agreement dated as of September 24, 2012, by and among the Company, ADMIN BG Holding GmbH (now named Black Diamond Austria GmbH), an Austrian corporation and a wholly-owned subsidiary of the Company, and the Seidel Privatstiftung. | ||||
Pro Forma Results | ||||
The following pro forma results are based on the individual historical results of the Company and POC and PIEPS, with adjustments to give effect to the combined operations as if the acquisitions had been consummated at the beginning of the periods presented. The pro forma results are intended for information purposes only and do not purport to represent what the Company’s results of operations would actually have been had the Company’s transactions in fact occurred at the beginning of the earliest periods presented. | ||||
Year Ended December 31, | ||||
2012 | ||||
Sales | $ | 184,052 | ||
Net income | $ | 545 | ||
Net income per share - basic | $ | 0.02 | ||
Net income per share - diluted | $ | 0.02 | ||
Inventories
Inventories | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Inventories [Abstract] | ' | ||||||
Inventories | ' | ||||||
NOTE 4. INVENTORIES | |||||||
Inventories, as of December 31, 2013 and December 31, 2012, were as follows: | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Finished goods | $ | 45,734 | $ | 53,009 | |||
Work-in-process | 891 | 1,112 | |||||
Raw materials and supplies | 7,429 | 6,543 | |||||
$ | 54,054 | $ | 60,664 | ||||
Property_And_Equipment
Property And Equipment | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Property Plant And Equipment [Abstract] | ' | ||||||
Property And Equipment | ' | ||||||
NOTE 5. PROPERTY AND EQUIPMENT | |||||||
Property and equipment, net as of December 31, 2013 and December 31, 2012, were as follows: | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Land | $ | 2,850 | $ | 2,850 | |||
Building and improvements | 4,999 | 4,568 | |||||
Furniture and fixtures | 4,680 | 4,140 | |||||
Computer hardware and software | 6,773 | 4,759 | |||||
Machinery and equipment | 13,868 | 11,718 | |||||
Construction in progress | 1,218 | 1,855 | |||||
34,388 | 29,890 | ||||||
Less accumulated depreciation | -16,987 | -12,382 | |||||
$ | 17,401 | $ | 17,508 | ||||
Depreciation expense was $4,696, $3,685, and $3,351 for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||||||||
Goodwill And Other Intangible Assets | ' | ||||||||||||
NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||
Goodwill | |||||||||||||
There was an increase in goodwill during the year ended December 31, 2013 from $57,481 to $57,703 due to the impact of foreign currency exchange rates. There was an increase in goodwill during the year ended December 31, 2012 from $38,226 to $57,481 due to the Company’s acquisition of POC on July 2, 2012 and PIEPS on October 1, 2012. Based on the results of the Company’s annual impairment tests completed during the fourth quarter, the Company determined that goodwill was not impaired. The following table summarizes the changes in goodwill: | |||||||||||||
Balance at December 31, 2011 | $ | 38,226 | |||||||||||
Increase due to acquisitions | 18,220 | ||||||||||||
Impact of foreign currency exchange rates | 1,035 | ||||||||||||
Balance at December 31, 2012 | $ | 57,481 | |||||||||||
Impact of foreign currency exchange rates | 222 | ||||||||||||
Balance at December 31, 2013 | $ | 57,703 | |||||||||||
Indefinite Lived Intangible Assets | |||||||||||||
The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, Ltd., Gregory Mountain Products, Inc. (“Gregory” or “GMP”), POC, and PIEPS with the exclusive and perpetual rights to manufacture and sell their respective products. Tradenames and trademarks will not be amortized, but reviewed annually for impairment or upon the existence of a triggering event. There was an increase in tradenames and trademarks during the year ended December 31, 2013 due to the impact of foreign currency exchange rates. Based on the results of the Company’s annual impairment tests, the Company determined that indefinite lived intangible assets were not impaired. The following table summarizes the changes in indefinite lived intangible assets: | |||||||||||||
Balance at December 31, 2012 | $ | 51,462 | |||||||||||
Impact of foreign currency exchange rates | 217 | ||||||||||||
Balance at December 31, 2013 | $ | 51,679 | |||||||||||
Definite Lived Intangible Assets, net | |||||||||||||
Intangible assets such as certain customer relationships, core technologies and product technologies are amortizable over their estimated useful lives. There was an increase in gross definite lived intangible assets during the year ended December 31, 2013 as a result of the Company’s purchase of customer lists and customer relationships from Kabushiki Kaisha A&F (“A&F”), the prior distributor of Gregory’s products in Japan, and due to the impact of foreign currency exchange rates. The following table summarizes the changes in gross definite lived intangible assets: | |||||||||||||
Gross balance at December 31, 2012 | $ | 42,500 | |||||||||||
Increase due to purchase of customer lists and relationships | 750 | ||||||||||||
Impact of foreign currency exchange rates | 302 | ||||||||||||
Gross balance at December 31, 2013 | $ | 43,552 | |||||||||||
Intangible assets, net of amortization as of December 31, 2013 and December 31, 2012, were as follows: | |||||||||||||
31-Dec-13 | |||||||||||||
Gross | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
Intangibles subject to amortization | |||||||||||||
Customer relationships | $ | 30,809 | $ | -6,217 | $ | 24,592 | 14.1 years | ||||||
Product technologies | 8,992 | -1,048 | 7,944 | 15.3 years | |||||||||
Trade name | 2,246 | -168 | 2,078 | 20.0 years | |||||||||
Core technologies | 1,505 | -589 | 916 | 9.3 years | |||||||||
$ | 43,552 | $ | -8,022 | $ | 35,530 | 14.5 years | |||||||
31-Dec-12 | |||||||||||||
Gross | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
Intangibles subject to amortization | |||||||||||||
Customer relationships | $ | 29,890 | $ | -3,498 | $ | 26,392 | 14.1 years | ||||||
Product technologies | 8,868 | -421 | 8,447 | 15.3 years | |||||||||
Trade name | 2,237 | -56 | 2,181 | 20.0 years | |||||||||
Core technologies | 1,505 | -425 | 1,080 | 9.3 years | |||||||||
$ | 42,500 | $ | -4,400 | $ | 38,100 | 14.4 years | |||||||
Amortization expense for the years ended December 31, 2013, 2012, and 2011, was $3,583, $2,268, and $1,331, respectively. Future amortization expense for definite-lived intangible assets as of December 31, 2013 is as follows: | |||||||||||||
Format 2014 | $ | 3,594 | |||||||||||
Format 2015 | 3,209 | ||||||||||||
Format 2016 | 2,719 | ||||||||||||
Format 2017 | 2,719 | ||||||||||||
Format 2018 | 2,678 | ||||||||||||
Thereafter | 20,611 | ||||||||||||
$ | 35,530 | ||||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-Term Debt [Abstract] | ' | ||||||
Long-Term Debt | ' | ||||||
NOTE 7. LONG-TERM DEBT | |||||||
Long-term debt, net as of December 31, 2013 and December 31, 2012, was as follows: | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Revolving credit facilities (a) | $ | 10,320 | $ | 20,000 | |||
Foreign credit facilities (b) | 997 | 3,995 | |||||
5% Senior Subordinated Notes due 2017 (c) | 17,154 | 15,992 | |||||
Capital leases (d) | 47 | 119 | |||||
Term notes (e) | 9,523 | 382 | |||||
38,041 | 40,488 | ||||||
Less current portion | -1,910 | -4,059 | |||||
$ | 36,131 | $ | 36,429 | ||||
(a) | As of December 31, 2013, the Company had drawn $10,320 on a $30,000 revolving credit facility with Zions First National Bank (the “Lender”) with a maturity date of March 8, 2016. On February 28, 2014, the Company together with its direct and indirect domestic subsidiaries entered into a first amendment (the “Amendment”) to the amended and restated loan agreement dated March 8, 2013 (the “Loan Agreement”) with the Lender to reduce its existing Term Facility from $15,000 to $10,000 pursuant to an amended and restated term loan promissory note (the “Amended and Restated Term Loan Promissory Note”). Also pursuant to the Amendment, the Company terminated its outstanding Acquisition Facility which previously allowed the Company to borrow up to $10,000 to fund permitted acquisitions and amended certain covenants. | ||||||
Under the Loan Agreement, the Company has an existing $30,000 Revolving Line of Credit for funding general corporate needs. Under the Amended and Restated Term Loan Promissory Note, the Lender has made available $10,000 for funding permanent working capital. The Amended and Restated Term Loan Promissory Note is due and payable in monthly payments of principal and interest, with all principal and interest due March 8, 2023. | |||||||
All debt associated with the Loan Agreement bears interest at one-month London Interbank Offered Rate (“LIBOR”) plus an applicable margin as determined by the ratio of Total Senior Debt to Trailing Twelve Month EBITDA as follows: (i) one month LIBOR plus 3.75% per annum at all times that Total Senior Debt to Trailing Twelve Month EBITDA ratio is greater than or equal to 2.75; (ii) one month LIBOR plus 2.75% per annum at all times that Total Senior Debt to Trailing Twelve Month EBITDA ratio is less than 2.75. The Loan Agreement requires the payment of an unused commitment fee of (i) .6% per annum at all times that the ratio of Total Senior Debt to Trailing Twelve Month EBITDA is greater than or equal to 2.75, and (ii) .4% per annum at all times that the Total Senior Debt to Trailing Twelve Month EBITDA is less than 2.75. | |||||||
The Loan Agreement contains certain restrictive debt covenants that require the Company and its subsidiaries to maintain an EBITDA based minimum Trailing Twelve Month EBITDA, a minimum net worth, a positive amount of asset coverage, and limitations on capital expenditures all as calculated in the Loan Agreement. In addition, the Loan Agreement contains covenants restricting the Company and its subsidiaries from pledging or encumbering their assets, with certain exceptions, and from engaging in acquisitions other than acquisitions permitted by the Loan Agreement. The Loan Agreement contains customary events of default (with grace periods where customary) including, among other things, failure to pay any principal or interest when due; any materially false or misleading representation, warranty, or financial statement; failure to comply with or to perform any provision of the Loan Agreement; and default on any debt or agreement in excess of certain amounts. | |||||||
(b) | The Company’s foreign subsidiaries have revolving credit facilities with various financial institutions. As of December 31, 2013 and 2012, the credit limit on these facilities was approximately $1,956 and $2,593, respectively, and the Company’s foreign subsidiaries had drawn $314 and $1,426, respectively, on these facilities. The facilities have variable interest rates ranging from 2.75% to 3.3% as of December 31, 2013 with maturities ranging from due on demand through December 31, 2014. The facilities are secured by accounts receivable. The Company had $340 and $1,488 in letters of credit as of December 31, 2013 and 2012, respectively. | ||||||
Liabilities assumed through the Company’s acquisitions of POC and PIEPS included receivable securitization facilities with foreign financial institutions, which are utilized in the normal course of business as part of managing cash flows. As of December 31, 2013 and 2012, the Company had utilized $683 of the available $2,314 and $2,569 of the available $4,947 on these facilities, respectively. The Company's obligations to the financial institutions are collateralized by accounts receivable. The interest rate is variable and was 3.56% as of December 31, 2013 maturing on December 31, 2014. At December 31, 2013 and 2012, the Company's consolidated balance sheet included $683 and $2,569 receivables that were securitized, respectively, and $683 and $2,569 of associated liabilities, respectively. | |||||||
(c) | In connection with the Gregory Merger, $22,056 and $554 in subordinated notes were issued to the Gregory Stockholders. The notes have a seven year term, 5% stated interest rate payable quarterly, and are prepayable at any time. Given the below market interest rate for comparably secured notes and the relative illiquidity of the notes, we discounted the notes to $13,127 and $316, respectively, at date of acquisition. We are accreting the discount on the notes to interest expense using the effective interest method over the term of the notes. During the years ended December 31, 2013 and 2012, $1,162 and $1,012, respectively, of the discounts were accreted and recorded as interest expense in the accompanying statements of comprehensive (loss) income. | ||||||
(d) | Various capital leases payable to banks: interest rates ranging from 6.10% to 7.00%; monthly installments ranging from $1 to $4; ending between April 2014 and November 2016; secured by certain equipment. | ||||||
(e) | The Loan Agreement also provides for a Term Facility pursuant to which the Lender has made available $15,000 for funding permanent working capital, of which $10,000 was used upon the close of the Loan Agreement to reduce amounts owed on the already existing revolving credit facility. On February 28, 2014, the Loan Agreement was amended to eliminate the remaining $5,000 of unused term debt. The Term Facility is due and payable in monthly payments of principal and interest based on a 10-year amortization from March 8, 2013. Other various term loans are payable to financial institutions and a government entity with interest rates ranging from 0.75% to 5.50% monthly installments ranging from $0 to $3. The notes mature between January 2016 and March 2017 and are secured by certain equipment. | ||||||
The aggregate maturities of long-term debt and revolving lines of credit for the years subsequent to December 31, 2013 are as follows: | |||||||
2014 | $ | 1,910 | |||||
2015 | 936 | ||||||
2016 | 11,258 | ||||||
2017 | 23,654 | ||||||
2018 | 1,003 | ||||||
Thereafter | 4,737 | ||||||
Total future long-term debt payments | 43,498 | ||||||
Less amount representing debt discounts | -5,457 | ||||||
Total carrying amount of long-term debt | 38,041 | ||||||
Less current portion | -1,910 | ||||||
Long-term debt obligations | $ | 36,131 | |||||
Property held under capital leases as of December 31, 2013 and 2012, was $228 and $268, respectively, and accumulated amortization was $98 and $87, respectively. | |||||||
Other_LongTerm_Liabilities
Other Long-Term Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Other Long-Term Liabilities [Abstract] | ' |
Other Long-Term Liabilities | ' |
NOTE 8. OTHER LONG-TERM LIABILITIES | |
Other long-term liabilities were $1,997 and $2,000 as of December 31, 2013 and 2012, respectively, with $1,621 and $1,479 of the balance as of December 31, 2013 and 2012, respectively, relating to a pension liability with respect to the benefit plan maintained for the benefit of the Company’s employees in Switzerland that, under U.S. GAAP, is considered to be a defined benefit plan. The Company also has an insurance policy whereby any underfunded amounts related to the pension liability are expected to be recoverable. The Company has recorded a receivable of $1,621 and $1,479 as other long-term assets for the underfunded amount as of December 31, 2013 and 2012, respectively. | |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||
Derivative Financial Instruments | ' | ||||||||
NOTE 9. DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||
The Company’s primary exchange rate risk management objective is to mitigate the uncertainty of anticipated cash flows attributable to changes in exchange rates. The Company primarily focuses on mitigating changes in cash flows resulting from sales denominated in currencies other than the U.S. dollar. The Company manages this risk primarily by using currency forward and option contracts. If the anticipated transactions are deemed probable, the resulting relationships are formally designated as cash flow hedges. | |||||||||
At December 31, 2012, the Company’s derivative contracts had a remaining maturity of one and a half years or less. The counterparty to these transactions had both long-term and short-term investment grade credit ratings. The maximum net exposure to the counterparty, which is generally limited to the aggregate unrealized loss of all contracts with that counterparty, was $964 at December 31, 2013. The Company’s derivative counterparty has strong credit ratings and as a result, the Company does not require collateral to facilitate transactions. | |||||||||
The Company held the following contracts designated as hedged instruments as of December 31, 2013 and 2012: | |||||||||
31-Dec-13 | |||||||||
Notional | Latest | ||||||||
Amount | Maturity | ||||||||
Foreign exchange contracts - Canadian Dollars | 1,062 | 14-Feb | |||||||
Foreign exchange contracts - Norwegian Kroner | 9,253 | 14-Aug | |||||||
Foreign exchange contracts - British Pounds | 2,626 | 15-Feb | |||||||
Foreign exchange contracts - Euros | 20,772 | 15-Feb | |||||||
Foreign exchange contracts - Swiss Francs | 30,698 | 15-Feb | |||||||
Foreign exchange contracts - Japanese Yen | 792,696 | 15-Feb | |||||||
Foreign exchange contracts - Swedish Kronor | 6,034 | 15-Feb | |||||||
31-Dec-12 | |||||||||
Notional | Latest | ||||||||
Amount | Maturity | ||||||||
Foreign exchange contracts - Norwegian Kroner | 7,131 | 14-Feb | |||||||
Foreign exchange contracts - British Pounds | 1,452 | 14-Feb | |||||||
Foreign exchange contracts - Euros | 17,186 | 14-Feb | |||||||
Foreign exchange contracts - Swiss Francs | 23,838 | 14-Feb | |||||||
Foreign exchange contracts - Canadian Dollars | 10,499 | 14-Feb | |||||||
The Company accounts for these contracts as cash flow hedges and tests effectiveness by determining whether changes in the cash flow of the derivative offset, within a range, changes in the cash flow of the hedged item. For contracts that qualify as effective hedge instruments, the effective portion of gains and losses resulting from changes in fair value of the instruments are included in accumulated other comprehensive income and reclassified to sales in the period the underlying hedge item is recognized in earnings. $804 and $394 were reclassified to sales during the years ended December 31, 2013 and 2012, respectively. | |||||||||
As of December 31, 2012, the Company reported an accumulated derivative instrument loss of $169. During the year ended December 31, 2013, the Company reported an adjustment to accumulated other comprehensive income of $442, as a result of the change in fair value of these contracts and reclassifications to sales, resulting in an accumulated derivative instrument loss of $611 reported as of December 31, 2013. | |||||||||
The following table presents the balance sheet classification and fair value of derivative instruments as of December 31, 2013 and 2012: | |||||||||
Classification | 31-Dec-13 | 31-Dec-12 | |||||||
Derivative instruments in asset positions: | |||||||||
Forward exchange contracts | Prepaid and other current assets | $ | 682 | $ | 680 | ||||
Forward exchange contracts | Other long-term assets | $ | 76 | $ | - | ||||
Derivative instruments in liability positions: | |||||||||
Forward exchange contracts | Accounts payable and accrued liabilities | $ | 1,492 | $ | 918 | ||||
Forward exchange contracts | Other long-term liabilities | $ | 230 | $ | - | ||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Income | ' | |||||||||
NOTE 10. ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||
Accumulated other comprehensive income (“AOCI”) primarily consists of foreign currency translation adjustments and changes in our forward foreign exchange contracts. The components of AOCI, net of tax, were as follows: | ||||||||||
Foreign Currency Translation Adjustments | Unrealized Gains (Losses) on Cash Flow Hedges | Total | ||||||||
Balance as of December 31, 2012 | $ | 5,880 | $ | -169 | $ | 5,711 | ||||
Other comprehensive income before reclassifications | 1,294 | 73 | 1,367 | |||||||
Amounts reclassified from other comprehensive income | - | -515 | -515 | |||||||
Net current period other comprehensive income (loss) | 1,294 | -442 | 852 | |||||||
Balance as of December 31, 2013 | $ | 7,174 | $ | -611 | $ | 6,563 | ||||
The effects on net income of amounts reclassified from unrealized gains on cash flow hedges for foreign exchange contracts for the year ended December 31, 2013 were as follows: | ||||||||||
Affected line item in the Consolidated Statement of Comprehensive (Loss) Income | Gains reclassified from AOCI to the Consolidated Statement of Comprehensive (Loss) Income | |||||||||
Sales | $ | 804 | ||||||||
Income tax benefit | 289 | |||||||||
Amount reclassified net of tax | $ | 515 | ||||||||
Fair_Value_Of_Measurements
Fair Value Of Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Of Measurements [Abstract] | ' | ||||||||||||
Fair Value Of Measurements | ' | ||||||||||||
NOTE 11. FAIR VALUE OF MEASUREMENTS | |||||||||||||
We measure certain financial assets and liabilities at fair value on a recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: | |||||||||||||
Level 1- inputs to the valuation methodology are quoted market prices for identical assets or liabilities in active markets. | |||||||||||||
Level 2- inputs to the valuation methodology include quoted prices in markets that are not active or model inputs that are | |||||||||||||
observable either directly or indirectly for substantially the full term of the asset or liability. | |||||||||||||
Level 3- inputs to the valuation methodology are based on prices or valuation techniques that are unobservable. | |||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and December 31, 2012 were as follows: | |||||||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||
Forward exchange contracts | $ | - | $ | 758 | $ | - | $ | 758 | |||||
$ | - | $ | 758 | $ | - | $ | 758 | ||||||
Liabilities | |||||||||||||
Forward exchange contracts | $ | - | $ | 1,722 | $ | - | $ | 1,722 | |||||
$ | - | $ | 1,722 | $ | - | $ | 1,722 | ||||||
31-Dec-12 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||
Forward exchange contracts | $ | - | $ | 680 | $ | - | $ | 680 | |||||
$ | - | $ | 680 | $ | - | $ | 680 | ||||||
Liabilities | |||||||||||||
Forward exchange contracts | $ | - | $ | 918 | $ | - | $ | 918 | |||||
$ | - | $ | 918 | $ | - | $ | 918 | ||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Earnings Per Share | ' | |||||||||
NOTE 12. EARNINGS PER SHARE | ||||||||||
Basic earnings per share is computed by dividing earnings by the weighted average number of common shares outstanding during each period. Diluted earnings per share is computed by dividing earnings by the total of the weighted average number of shares of common stock outstanding during each period, plus the effect of outstanding stock options and unvested restricted stock grants. Potentially dilutive securities are excluded from the computation of diluted earnings per share if their effect is anti-dilutive. | ||||||||||
The following table is a reconciliation of basic and diluted shares of common stock outstanding used in the calculation of earnings per share: | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average shares outstanding - basic | 32,007 | 29,817 | 21,845 | |||||||
Effect of dilutive stock awards | - | 309 | 201 | |||||||
Weighted average shares outstanding - diluted | 32,007 | 30,126 | 22,046 | |||||||
(Loss) earnings per share: | ||||||||||
Basic | $ | -0.18 | $ | 0.07 | $ | 0.22 | ||||
Diluted | -0.18 | 0.06 | 0.22 | |||||||
For the year ended December 31, 2013, basic net loss per share was the same as diluted net loss per share because all potentially dilutive securities were anti-dilutive due to the net loss for the period. For the year ended December 31, 2013, options to purchase 2,095 shares of common stock and 11 shares of restricted stock were outstanding and anti-dilutive due to the net loss for the period. Additionally, options to purchase 711 shares of common stock were outstanding and anti-dilutive because the exercise prices were higher than the average market price of the Company’s common stock for the year ended December 31, 2013 and 322 shares of unvested restricted stock were outstanding and excluded as their required performance or market conditions were not met. | ||||||||||
For the year ended December 31, 2012, diluted earnings per share excludes the anti-dilutive effect of options to purchase 696 shares of common stock whose exercise prices were higher than the average market price of the Company’s common stock for the year ended December 31, 2012 and 750 shares of unvested restricted stock as their required performance or market conditions were not met. | ||||||||||
For the year ended December 31, 2011, diluted earnings per share excludes the anti-dilutive effect of options to purchase 800 shares of common stock whose exercise prices were higher than the average market price of the Company’s common stock for the year ended December 31, 2011 and 750 shares of unvested restricted stock as their required performance or market conditions were not met. | ||||||||||
StockBased_Compensation_Plan
Stock-Based Compensation Plan | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stock-Based Compensation Plan [Abstract] | ' | ||||||||||||
Stock-Based Compensation Plan | ' | ||||||||||||
NOTE 13. STOCK-BASED COMPENSATION PLAN | |||||||||||||
Under the Company’s 2005 Stock Incentive Plan (the “2005 Plan”), the Board of Directors has flexibility to determine the type and amount of awards to be granted to eligible participants, who must be employees, directors, officers or consultants of the Company or its subsidiaries. The 2005 Plan allows for grants of incentive stock options, nonqualified stock options, restricted stock awards, stock appreciation rights, and restricted units. The aggregate number of shares of common stock that may be granted through awards under the 2005 Plan to any employee in any calendar year may not exceed 500 shares. The 2005 Plan will continue in effect until June 2015 unless terminated sooner. As of December 31, 2013, the number of shares authorized and reserved for issuance under the 2005 Plan is 5,732, subject to automatic annual increase equal to 4% of the total number of shares of the Company’s outstanding common stock. | |||||||||||||
Options Granted: | |||||||||||||
During the year ended December 31, 2013, the Company issued 628 stock options, under the Company’s 2005 Plan, to directors and employees of the Company. Of the 628 options issued, 40 will vest in four equal consecutive quarterly tranches from the date of grant. Five options granted will vest in three installments as follows: Two shall vest on March 31, 2015 and the remaining shares shall vest equally on March 31, 2016 and March 31, 2017. 98 options granted will vest in five installments as follows: 14 shares shall vest on December 31, 2014, 27 shares shall vest on December 31, 2015, 31 shares shall vest on December 31, 2016, 19 shares shall vest on December 31, 2017, and 7 shares shall vest on December 31, 2018. The remaining 485 vested immediately. | |||||||||||||
For computing the fair value of the stock-based awards, the fair value of each option grant has been estimated as of the date of grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Number of options | 143 | 485 | 270 | 500 | 233 | ||||||||
Option vesting period | 1-5 Years | Immediate | 1-5 Years | 3-6 Years | 1-5 Years | ||||||||
Grant price | $8.02 - $13.38 | $10.40 - $14.71 | $7.64 - $9.89 | $13.00 - $16.00 | $6.22 - $8.86 | ||||||||
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||
Expected volatility (a) | 52.8% - 55.2% | 51.6% - 53.9% | 53.3% - 59.2% | 50.3% - 58.6% | 55.8% - 59.6% | ||||||||
Risk-free interest rate | 1.04% - 2.45% | 1.36% - 1.62% | .71% - 1.44% | .39% - 1.04% | 1.41% - 2.92% | ||||||||
Expected life (years) | 5.31 - 7.08 (b) | 5.00 (c) | 5.31 - 7.08 (b) | 3.25 - 6.25 (b) | 5.31 - 6.95 (b) | ||||||||
Discount for post-vesting restrictions (d) | 0.00% | 11.5% - 35.0% | 0.00% | 0.00% | 0.00% | ||||||||
Weighted average fair value | $4.23 - $7.53 | $1.59 - $5.25 | $4.40 - $5.34 | $2.64 - $3.94 | $3.65 - $5.04 | ||||||||
(a) | Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. | ||||||||||||
(b) | Because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. | ||||||||||||
(c) | The Company considered the applicable employee groups as well as the anticipated exercise behavior over the contractual term of the award in developing an estimate of the expected term of these options. | ||||||||||||
(d) | Because options with post-vesting restrictions create a lack of marketability, the Company discounted the market price used in the Black-Scholes option-pricing model. The Company utilized the Finnerty and Forward Sale models to calculate the discount. | ||||||||||||
Using these assumptions, the fair value of the stock options granted during the years ended December 31, 2013, 2012, and 2011 was $2,303, $3,011, and $987, respectively, which will be amortized over the vesting period of the options. | |||||||||||||
Stock Awards: | |||||||||||||
During the year ended December 31, 2013, the Company awarded three shares of common stock to an employee. At the date the awards were issued the common stock was valued at $7.85 per share. | |||||||||||||
Restricted Stock Awards: | |||||||||||||
During the year ended December 31, 2013, the Company awarded 90 shares of restricted stock to employees. The vesting of 72 shares is contingent on meeting various service conditions and sales targets, which were deemed probable at the date of grant and as of December 31, 2013. The remaining 18 shares vest in two to five years assuming the employees remain employed through the vesting date. The fair value of the restricted stock awards granted during the year ended December 31, 2013 was $936, which is equal to the market value of the underlying shares on the date of grant. The fair value will be recognized over the vesting period of two to five years. If the service conditions and sales targets are not met, any recognized compensation cost will be reversed. | |||||||||||||
On January 17, 2011, the Company granted to Mr. Kanders a seven-year restricted stock award of 250 shares of common stock pursuant to the Company’s 2005 Plan, which award will vest on the date the Fair Market Value (as defined in the 2005 Plan) of the Company’s common stock shall have equaled or exceeded $14.00 per share for 20 consecutive trading days. For computing the fair value of the 250 seven-year restricted stock-based awards, the fair value of each restricted stock award grant has been estimated as of the date of grant using the Monte-Carlo pricing model with the following assumptions: | |||||||||||||
2011 | |||||||||||||
Number issued | 250 | ||||||||||||
Vesting Period | $14.00 Stock Price target | ||||||||||||
Grant Price | $7.34 | ||||||||||||
Dividend Yield | 0.00% | ||||||||||||
Expected Volatility (a) | 58.00% | ||||||||||||
Risk-free Interest Rate | 2.64% | ||||||||||||
Expected Life (Years) | 1.9 | ||||||||||||
Weighted Average Fair Value | $6.27 | ||||||||||||
(a) | Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. | ||||||||||||
Using these assumptions, the fair value of the restricted stock awards granted during the year ended December 31, 2011 was $1,567, which was amortized through December 31, 2012. | |||||||||||||
The total non-cash stock compensation expense related to stock options and restricted stock awards recorded by the Company was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Restricted stock awards | $ | 81 | $ | 739 | $ | 2,462 | |||||||
Stock options | 2,904 | 1,027 | 629 | ||||||||||
Stock awards | 25 | - | - | ||||||||||
Total | $ | 3,010 | $ | 1,766 | $ | 3,091 | |||||||
The Company classified $221 and $2,789 of stock-based compensation costs as cost of sales and selling, general and administrative expense during the year ended December 31, 2013, respectively. A summary of changes in outstanding options and restricted stock awards during the year ended December 31, 2013 is as follows: | |||||||||||||
Options | Weighted Average Exercise Price | Aggregate Intrinsic Value | Restricted Stock Awards | ||||||||||
Outstanding at December 31, 2012 | 2,712 | $ | 8.98 | $ | - | 750 | |||||||
Granted | 628 | 10.30 | 90 | ||||||||||
Exercised or vested | -185 | 6.43 | -500 | ||||||||||
Expired | - | - | - | ||||||||||
Forfeited | -74 | 8.95 | - | ||||||||||
Outstanding at December 31, 2013 | 3,081 | $ | 9.33 | $ | 12,320 | 340 | |||||||
Options exercisable at December 31, 2013 | 2,137 | $ | 8.50 | $ | 10,308 | ||||||||
The following table summarizes the exercise price range, weighted average exercise price, and remaining contractual lives by significant ranges for options outstanding and exercisable as of December 31, 2013: | |||||||||||||
Exercise Price Range | Outstanding | Exercisable | Remaining Life In Years | Weighted Average Exercise Price | |||||||||
$4.00 - $10.39 | 2,125 | 1,652 | 3.7 | $ | 7.91 | ||||||||
$10.40 - $14.71 | 956 | 485 | 7.7 | $ | 10.54 | ||||||||
3,081 | 2,137 | 4.7 | $ | 8.50 | |||||||||
The fair value of unvested restricted stock awards is determined based on the market price of our shares of common stock on the grant date. As of December 31, 2013, there were 944 unvested stock options and unrecognized compensation cost of $2,843 related to unvested stock options, as well as 340 unvested restricted stock awards and unrecognized compensation cost of $854 related to unvested restricted stock awards. | |||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments And Contingencies [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
NOTE 14. COMMITMENTS AND CONTINGENCIES | ||||
The Company is involved in various legal disputes and other legal proceedings that arise from time to time in the ordinary course of business. Based on currently available information, the Company does not believe that it is reasonably possible that the disposition of any of the legal disputes the Company or its subsidiaries is currently involved in will have a material adverse effect upon the Company’s consolidated financial condition, results of operations or cash flows. It is possible that, as additional information becomes available, the impact on the Company could have a different effect. | ||||
The Company leases office, warehouse and distribution space under non-cancelable operating leases. As leases expire, it can be expected that, in the normal course of business, certain leases will be renewed or replaced. Certain lease agreements include escalating rents over the lease terms. The Company expenses rent on a straight-line basis over the lease term which commences on the date the Company has the right to control the property. The cumulative expense recognized on a straight-line basis in excess of the cumulative payments is included in accounts payable and accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheets. | ||||
Total rent expense of the Company for the years ended December 31, 2013, 2012, and 2011 was $2,321, $1,944, and $1,538, respectively. | ||||
Future minimum lease payments required under noncancelable operating leases that have initial or remaining noncancelable lease term in excess of one year at December 31, 2013 are as follows: | ||||
2014 | $ | 2,099 | ||
2015 | 1,490 | |||
2016 | 1,082 | |||
2017 | 589 | |||
2018 | 178 | |||
Thereafter | 12 | |||
$ | 5,450 | |||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 15. INCOME TAXES | |||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is subject to income taxes in certain foreign jurisdictions based on operations. Deferred tax assets and liabilities are created in this process. The Company has netted these deferred tax assets and deferred tax liabilities by jurisdiction. Deferred income tax assets are reviewed for recoverability and valuation allowances are provided when it is more likely than not that a deferred tax asset is not realizable in the future. | |||||||||||||
Tax positions are recognized in the financial statements when it is more-likely-than-not that the position will be sustained upon examination by the tax authorities. As of December 31, 2013, the Company had no uncertain tax positions that quality for either recognition or disclosure in the financial statements. The Company conducts its business globally. As a result, the Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions, and are subject to examination for the open tax years of 2010-2012. | |||||||||||||
The Company’s foreign operations that are considered to be permanently reinvested have statutory tax rates of approximately 19% - 39%. | |||||||||||||
The Company recognizes interest expense and penalties related to income tax matters in income tax expense. No amounts were recorded related to interest expense and penalties related to income tax matters by the Company during the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Consolidated income (losses) from continuing operations before income taxes consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | -1,497 | $ | 3,179 | $ | 1,755 | |||||||
Foreign operations | -6,446 | -3,091 | 449 | ||||||||||
(Loss) income before income tax | $ | -7,943 | $ | 88 | $ | 2,204 | |||||||
The components of the provision (benefit) for income taxes consist of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 24 | $ | 10 | $ | 206 | |||||||
State and local | 71 | -20 | 41 | ||||||||||
Foreign | 327 | 3 | 321 | ||||||||||
422 | -7 | 568 | |||||||||||
Deferred: | |||||||||||||
Federal | -1,155 | 2,115 | 98 | ||||||||||
State and local | 563 | -1,067 | -132 | ||||||||||
Foreign | -1,413 | -1,605 | -222 | ||||||||||
-2,005 | -557 | -256 | |||||||||||
Decrease in valuation allowance for deferred income taxes | -490 | -1,300 | -3,000 | ||||||||||
-2,495 | -1,857 | -3,256 | |||||||||||
Income tax benefit | $ | -2,073 | $ | -1,864 | $ | -2,688 | |||||||
During the year ended December 31, 2012, the Company’s deferred foreign benefit for income taxes included a benefit of $1,025 related to changes in enacted foreign statutory tax rates. | |||||||||||||
The following is a reconciliation of the normal expected statutory federal income tax rate to the effective rate reported in the Company’s financial statements: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Computed "expected" income tax (benefit) expense | -34 | % | 34.0 | % | 34.0 | % | |||||||
Increase (decrease) in income taxes resulting from: | |||||||||||||
Foreign taxes | 10.9 | 145.1 | -2.4 | ||||||||||
State income taxes, net of federal income taxes | -0.1 | 126.2 | 3.5 | ||||||||||
Income tax credits | -7.3 | - | - | ||||||||||
Incentive stock options | 3.5 | - | - | ||||||||||
Transactions costs | - | 682.9 | - | ||||||||||
Change in effective state rate | - | -501.4 | - | ||||||||||
Change in enacted foreign statutory rates | - | -1,178.10 | - | ||||||||||
Other | 0.4 | 365.4 | -21 | ||||||||||
Decrease in valuation allowance | 0.5 | -1,792.30 | -136.1 | ||||||||||
Income tax benefit | -26.1 | % | -2,118.20 | % | -122 | % | |||||||
Deferred income tax assets and liabilities are determined based on the difference between the financial reporting carrying amounts and tax bases of existing assets and liabilities and operating loss and tax credit carryforwards. Significant components of the Company’s existing deferred income tax assets and liabilities as of December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss, capital loss amount and research & experimentation credit carryforwards | $ | 82,820 | $ | 82,140 | |||||||||
Non-cash compensation | 2,304 | 2,717 | |||||||||||
Accrued liabilities | 2,100 | 1,968 | |||||||||||
Reserves and other | 3,318 | 2,740 | |||||||||||
Intangibles | 2,056 | 2,411 | |||||||||||
92,598 | 91,976 | ||||||||||||
Valuation allowance | -17,120 | -17,610 | |||||||||||
Net deferred tax assets | 75,478 | 74,366 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation | -1,057 | -1,219 | |||||||||||
Discount on notes | -1,967 | -2,383 | |||||||||||
Intangibles | -25,746 | -26,610 | |||||||||||
Other | -141 | -300 | |||||||||||
-28,911 | -30,512 | ||||||||||||
Total | $ | 46,567 | $ | 43,854 | |||||||||
The net change in the valuation allowance for deferred income tax assets was $490, primarily due to the expiration of state NOL’s that were fully valued, $894 ($1,300 of this change was benefited through the Company’s income tax expense; whereas, the off-setting change of $406 relates to an increase in valuation allowance due to the acquisition of certain deferred tax assets where the more likely than not criteria was not met), and $3,000, during the years ended December 31, 2013, 2012, and 2011, respectively. In assessing the realizability of deferred income tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Management has provided a valuation allowance against some of the net deferred income tax assets as of December 31, 2013, because the ultimate realization of those benefits and assets does not meet the more likely than not criteria. | |||||||||||||
The recognition of a valuation allowance for deferred taxes requires management to make estimates and judgments about the Company’s future profitability which are inherently uncertain. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The estimates and judgments associated with the Company’s valuation of deferred taxes are considered critical due to the amount of deferred taxes recorded by the Company on its consolidated balance sheet and the judgment required in determining the Company’s future profitability. If, in the opinion of management, it becomes more likely than not that some portion or all of the deferred tax assets will not be realized, deferred tax assets would be reduced by a valuation allowance and any such reduction could have a material adverse effect on the financial condition of the Company. | |||||||||||||
The Company’s conclusion, based upon applicable accounting guidelines, that the deferred tax assets noted above is more than likely than not to be realized reflects, among other things, its ability to generate taxable income and its projections of future taxable income and include future years that the Company estimates it would have available net operating loss carryforwards. While the Company believes that its estimate of future taxable income is reasonable, it is inherently uncertain. If the Company realizes unforeseen material losses in the future, or its ability to generate future taxable income necessary to realize a portion of the deferred tax assets is materially reduced, additions to the valuation allowance which reduce the deferred tax assets could be recorded. Moreover, because the majority of the Company’s deferred tax assets consist of net operating loss carryforwards for federal tax purposes, if change in control events occur which could limit the availability of the net operating loss carryforwards under Section 382 of the Internal Revenue Code of 1986 (“Code”), as amended, additions to the valuation allowance which would reduce the deferred tax assets could also be recorded. | |||||||||||||
A roll forward of our valuation allowance for deferred income tax assets for the years ended December 31, 2013, 2012, and 2011 is as follows: | |||||||||||||
Balance at Beginning of Period | Charged (Credited) to Costs and Expenses | Other Adjustments (a) | Balance at End of Period | ||||||||||
2011 | $ | 21,504 | $ | -3,000 | $ | - | $ | 18,504 | |||||
2012 | 18,504 | -1,300 | 406 | 17,610 | |||||||||
2013 | $ | 17,610 | $ | -490 | $ | - | $ | 17,120 | |||||
(a) | Increase in valuation allowance due to the acquisition of certain deferred tax assets where the more likely than not criteria was not met. | ||||||||||||
As of December 31, 2013, the Company had net operating loss, research and experimentation credit and alternative minimum tax credit carryforwards for U.S. federal income tax purposes of $215,562 ($5,154, relates to tax windfall, which will not be realized until an income tax payable exists), $2,270 and $315, respectively. The Company believes its U.S. Federal net operating loss (“NOL”) will substantially offset its future U.S. Federal income taxes, excluding the amount subject to U.S. Federal Alternative Minimum Tax (“AMT”). AMT is calculated as 20% of AMT income. For purposes of AMT, a maximum of 90% of income is offset by available NOLs. The majority of the Company’s pre-tax income is currently earned and expected to be earned in the U.S., or taxed in the U.S. as Subpart F. income and will be offset with the NOL. | |||||||||||||
Of the $210,408 of net operating losses available to offset taxable income, all of which does not expire until 2020 or later, subject to compliance with Section 382 of the Internal Revenue Code, as amended (the “Code”) as indicated by the following schedule: | |||||||||||||
Net Operating Loss Carryforward Expiration Dates | |||||||||||||
31-Dec-13 | |||||||||||||
Expiration Dates December 31, | Net Operating Loss Amount | ||||||||||||
2020 | $ | 26,231 | |||||||||||
2021 | 50,430 | ||||||||||||
2022 | 115,000 | ||||||||||||
2023 | 5,712 | ||||||||||||
2024 | 3,566 | ||||||||||||
2025 | 1,707 | ||||||||||||
2026 | 584 | ||||||||||||
2027 | 586 | ||||||||||||
2028 | 1,646 | ||||||||||||
2029 | 4,074 | ||||||||||||
2030 and beyond | 6,026 | ||||||||||||
Total | 215,562 | ||||||||||||
Tax windfall | -5,154 | ||||||||||||
After limitations | $ | 210,408 | |||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
NOTE 16. RELATED PARTY TRANSACTIONS | |
Public Offering | |
On February 22, 2012, certain of the Company’s officers, directors and employees, including Messrs. Kanders, Schiller, Peter R. Metcalf, Nicholas Sokolow and Philip N. Duff, purchased an aggregate of 1,333 shares of common stock sold by the Company in the Offering of 8,913 shares of common stock at a price of $7.50 per share. The last reported sale price of the Company’s common stock on February 15, 2012 prior to pricing of the Offering was $8.01 per share. | |
5% Unsecured Subordinated Notes due May 28, 2017 | |
As part of the consideration payable to the stockholders of Gregory when the Company acquired Gregory, the Company issued $14,517, $7,539, and $554 in 5% Unsecured Subordinated Notes due May 28, 2017 (the “Merger Consideration Subordinated Notes”) to Kanders GMP Holdings, LLC, and Schiller Gregory Investment Company, LLC, and five former employees of Gregory Mountain Products, respectively. Mr. Warren B. Kanders, the Company’s Executive Chairman and a member of its Board of Directors, is a majority member and a trustee of the manager of Kanders GMP Holdings, LLC. The sole manager of Schiller Gregory Investment Company, LLC is Mr. Robert R. Schiller, the Company’s Executive Vice Chairman and a member of its Board of Directors. The principle terms of the Merger Consideration Subordinated Notes are as follows: (i) the principal amount is due and payable on May 28, 2017 and is prepayable by the Company at anytime; (ii) interest will accrue on the principal amount at the rate of 5% per annum and shall be payable quarterly in cash; (iii) the default interest rate shall accrue at the rate of 10% per annum during the occurrence of an event of default; and (iv) events of default, which can only be triggered with the consent of Kanders GMP Holdings, LLC, are: (a) the default by the Company on any payment due under a Merger Consideration Subordinated Note; (b) the Company’s failure to perform or observe any other material covenant or agreement contained in the Merger Consideration Subordinated Notes; or (c) the Company’s instituting or becoming subject to a proceeding under the Bankruptcy Code. The Merger Consideration Subordinated Notes are junior to all senior indebtedness of the Company, except that payments of interest continue to be made under the Merger Consideration Subordinated Notes as long as no event of default exists under any senior indebtedness. | |
Given the below market interest rate for comparably secured notes and the relative illiquidity of the Merger Consideration Subordinated Notes, we have discounted the notes to $8,640, $4,487, and $316, respectively, at the date of acquisition. We are accreting the discount on the Merger Consideration Subordinated Notes to interest expense using the effective interest method over the term of the notes. | |
On April 7, 2011, Schiller Gregory Investment Company, LLC transferred its Merger Consideration Subordinated Note in equal amounts to the Robert R. Schiller Cornerstone Trust and the Deborah Schiller 2005 Revocable Trust. On June 24, 2013, the Robert R. Schiller Cornerstone Trust dated September 9, 2010 transferred its Merger Consideration Note in the amount of $3,769 to the Robert R. Schiller 2013 Cornerstone Trust dated June 24, 2013. During the year ended December 31, 2013, $726 in interest was paid to Kanders GMP Holdings, LLC, and $377 in interest was paid to the Robert R. Schiller Cornerstone Trust, the Deborah Schiller 2005 Revocable Trust and the Robert R. Schiller 2013 Cornerstone Trust pursuant to the outstanding Merger Consideration Subordinated Notes. | |
On May 29, 2012 and August 13, 2012, the five former employees of Gregory Mountain Products exercised certain sales rights and sold the Company’s outstanding 5% Unsecured Subordinated Notes due May 28, 2017 (the “Gregory Subordinated Notes”) in the aggregate principal amount of approximately $365 to Kanders GMP Holdings, LLC and in the aggregate principal amount of approximately $189 to Schiller Gregory Investment Company, LLC. During the year ended December 31, 2013, $18 in interest was paid to Kanders GMP Holdings, LLC, and $10 in interest was paid to Schiller Gregory Investment Company, LLC, pursuant to the outstanding Gregory Subordinated Notes. | |
Subsequent_Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
NOTE 17. SUBSEQUENT EVENT | |
Amendment of Revolving Credit Facility | |
On February 28, 2014, the Company together with its direct and indirect domestic subsidiaries entered into a first amendment (the “Amendment”) to the amended and restated loan agreement dated March 8, 2013 (the “Loan Agreement”) with Zions First National Bank (the “Lender”) to reduce its existing Term Facility from $15,000 to $10,000 pursuant to an amended and restated term loan promissory note (the “Amended and Restated Term Loan Promissory Note”). Also pursuant to the Amendment, the Company terminated its outstanding Acquisition Facility which previously allowed the Company to borrow up to $10,000 to fund permitted acquisitions and amended certain covenants. | |
All debt associated with the Loan Agreement bears interest at one-month London Interbank Offered Rate (“LIBOR”) plus an applicable margin as determined by the ratio of Total Senior Debt to Trailing Twelve Month EBITDA as follows: (i) one month LIBOR plus 3.75% per annum at all times that Total Senior Debt to Trailing Twelve Month EBITDA ratio is greater than or equal to 2.75; (ii) one month LIBOR plus 2.75% per annum at all times that Total Senior Debt to Trailing Twelve Month EBITDA ratio is less than 2.75. The Loan Agreement requires the payment of an unused commitment fee of (i) .6% per annum at all times that the ratio of Total Senior Debt to Trailing Twelve Month EBITDA is greater than or equal to 2.75, and (ii) .4% per annum at all times that the Total Senior Debt to Trailing Twelve Month EBITDA is less than 2.75. | |
Supplementary_Data_Quarterly_F
Supplementary Data - Quarterly Financial Data | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplementary Data - Quarterly Financial Data [Abstract] | ' | ||||||||||||
Supplementary Data - Quarterly Financial Data | ' | ||||||||||||
SUPPLEMENTARY DATA – QUARTERLY FINANCIAL DATA (Unaudited) | |||||||||||||
The following table sets forth selected quarterly data for the years ended December 31, 2013 and 2012. The operating results are not indicative of results for any future period. | |||||||||||||
Year Ended December 31, 2013 | |||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||
(in thousands, except per share amounts) | |||||||||||||
Net sales | $ | 51,000 | $ | 38,855 | $ | 52,776 | $ | 60,405 | |||||
Gross profit | 19,216 | 15,654 | 19,670 | 22,945 | |||||||||
Operating (loss) income | -2,034 | -2,482 | -1,490 | 1,316 | |||||||||
Net (loss) income | -3,032 | -2,268 | -1,306 | 736 | |||||||||
(Loss) earnings per share: | |||||||||||||
Basic (loss) earnings per share | $ | -0.1 | $ | -0.07 | $ | -0.04 | $ | 0.02 | |||||
Diluted (loss) earnings per share | -0.1 | -0.07 | -0.04 | 0.02 | |||||||||
Year Ended December 31, 2012 | |||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||
(in thousands, except per share amounts) | |||||||||||||
Net sales | $ | 46,419 | $ | 31,915 | $ | 48,742 | $ | 48,801 | |||||
Gross profit | 18,616 | 12,466 | 18,459 | 17,723 | |||||||||
Operating income (loss) | 4,729 | -1,991 | 1,535 | -2,097 | |||||||||
Net income (loss) | 2,590 | -1,908 | 726 | 544 | |||||||||
Earnings (loss) per share: | |||||||||||||
Basic earnings (loss) per share | $ | 0.10 | $ | -0.06 | $ | 0.02 | $ | 0.02 | |||||
Diluted earnings (loss) per share | 0.10 | -0.06 | 0.02 | 0.02 | |||||||||
The net loss for the three months ended September 30, 2013, included cost of sales of $1,541 related to the voluntary recall of all of the PIEPS VECTOR avalanche transceivers. Absent this recall, the Company would have reported net income of $235 for the three months ended September 30, 2013. | |||||||||||||
Nature_Of_Operations_And_Summa1
Nature Of Operations And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | ' |
Basis Of Presentation And Organization | ' |
The accompanying audited consolidated financial statements of Black Diamond, Inc. and subsidiaries (“Black Diamond” or the “Company,” which may be referred to as “we,” “us,” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). | |
Nature Of Business | ' |
Nature of Business | |
Black Diamond, Inc. is a global leader in designing, manufacturing and marketing innovative active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing, cycling and a wide range of other year-round outdoor recreation activities. Our principal brands include Black Diamond®, Gregory™, POC™ and PIEPS™ and are targeted not only to the demanding requirements of core climbers, skiers and cyclists, but also to the more general outdoor performance enthusiasts and consumers interested in outdoor-inspired gear for their backcountry and urban activities. Our Black Diamond®, Gregory™, POC™ and PIEPS™ brands are iconic in the active outdoor ski and cycling industries and linked intrinsically with the modern history of the sports we serve. We believe our brands are synonymous with the performance, innovation, durability and safety that the outdoor and action sports communities rely on and embrace in their active lifestyle. | |
On May 28, 2010, we acquired Black Diamond Equipment, Ltd. (which may be referred to as “Black Diamond Equipment” or “BDEL”) and Gregory Mountain Products. On January 20, 2011, the Company changed its name from Clarus Corporation to Black Diamond, Inc., which we believe more accurately reflects our current business. In June 2012 we acquired POC Sweden AB and its subsidiaries (collectively, “POC”) and in October 2012 we acquired PIEPS Holding GmbH and its subsidiaries (collectively, “PIEPS”). | |
Use Of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Some of the more significant estimates relate to derivatives, revenue recognition, income taxes, and valuation of long-lived assets, goodwill, and other intangible assets. We base our estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates. | |
Principles Of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of Black Diamond and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Foreign Currency Transactions And Translation | ' |
Foreign Currency Transactions and Translation | |
The accounts of the Company’s international subsidiaries’ financial statements are translated into U.S. dollars using the exchange rate at the balance sheet dates for assets and liabilities and the weighted average exchange rate for the periods for revenues, expenses, gains and losses. Foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive income. Foreign currency transaction gains and losses are included in other (expense) income in the consolidated statements of comprehensive (loss) income. | |
Cash Equivalents | ' |
Cash Equivalents | |
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. At December 31, 2013 and 2012, the Company did not hold any amounts that were considered to be cash equivalents. | |
Accounts Receivable And Allowance For Doubtful Accounts | ' |
Accounts Receivable and Allowance for Doubtful Accounts | |
The Company records its trade receivables at sales value and establishes a non-specific reserve for estimated doubtful accounts based on a percentage of outstanding trade receivables. In addition, specific reserves are established for customer accounts as known collection problems occur due to insolvency, disputes or other collection issues. The amounts of these specific reserves are estimated by management based on the customer’s financial position, the age of the customer’s receivables and the reasons for any disputes. The allowance for doubtful accounts is reduced by any write-off of uncollectible customer accounts. Interest is charged on trade receivables that are outstanding beyond the payment terms and is recognized as it is charged. The allowance for doubtful accounts was $641 and $499 at December 31, 2013 and 2012. There were no significant write-offs of the Company’s accounts receivable during the years ended December 31, 2013, 2012, and 2011. | |
Inventories | ' |
Inventories | |
Inventories are stated at the lower of cost (using the first-in, first-out method “FIFO”) or market value. Elements of cost in the Company’s manufactured inventories generally include raw materials, direct labor, manufacturing overhead and freight in. The Company periodically reviews its inventories for excess, close-out, or slow moving items and makes provisions as necessary to properly reflect inventory values. | |
Property And Equipment | ' |
Property and Equipment | |
Property and equipment is stated at historical cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives or estimated units of production. The principal estimated useful lives are: building improvements, 20 years; computer hardware and software and machinery and equipment, 3-10 years – except for certain tooling costs, which are based on units of production; furniture and fixtures, 5 years. Leasehold improvements are amortized over the lesser of the estimated useful life of the improvement, or the life of the lease. Equipment under capital leases are stated at the present value of minimum lease payments. Major replacements, which extend the useful lives of equipment, are capitalized and depreciated over the remaining useful life. Normal maintenance and repair items are expensed as incurred. | |
Goodwill And Other Intangible Assets | ' |
Goodwill and Other Intangible Assets | |
Goodwill resulted from acquisitions and represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets. Goodwill and indefinite lived intangible assets are not amortized, but rather tested for impairment on an annual basis or more often if events or circumstances indicate a potential impairment exists. Definite lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments | |
The Company uses derivative instruments to hedge currency rate movements on foreign currency denominated sales. The Company enters into forward contracts, option contracts and non-deliverable forwards to manage the impact of foreign currency fluctuations on a portion of its forecasted foreign currency exposure. These derivatives are carried at fair value on the Company’s consolidated balance sheets in prepaid and other current assets, other long-term assets, accounts payable and accrued liabilities, and other long-term liabilities. Changes in fair value of the derivatives not designated as hedge instruments are included in the determination of net income. For derivative contracts designated as hedge instruments, the effective portion of gains and losses resulting from changes in fair value of the instruments are included in accumulated other comprehensive income and reclassified to sales in the period the underlying hedged item is recognized in earnings. The Company uses operating budgets and cash flow forecasts to estimate future economic exposure and to determine the level and timing of derivative transactions intended to mitigate such exposures in accordance with its risk management policies. | |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
The Company records compensation expense for all share-based awards granted based on the fair value of the award at the time of the grant. The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model that uses assumptions and estimates that the Company believes are reasonable. Stock-based compensation costs for stock awards and restricted stock awards is measured based on the closing fair market value of the Company’s common stock on the date of the grant. The Company recognizes the cost of the share-based awards on a straight-line basis over the requisite service period of the award. | |
Revenue Recognition | ' |
Revenue Recognition | |
The Company sells its products pursuant to customer orders or sales contracts entered into with its customers. Revenue is recognized when title and risk of loss pass to the customer and when collectability is reasonably assured. Charges for shipping and handling fees billed to customers are included in net sales and the corresponding shipping and handling expenses are included in cost of sales in the accompanying consolidated statements of comprehensive (loss) income. | |
At the time of revenue recognition, we also provide for estimated sales returns and miscellaneous claims from customers as reductions to revenues. The estimates are based on historical rates of product returns and claims. However, actual returns and claims in any future period are inherently uncertain and thus may differ from these estimates. If actual or expected future returns and claims are significantly greater or lower than the reserves that we have established, we will record a reduction or increase to sales in the period in which we make such a determination. Over the three-year period ended December 31, 2013, our actual annual sales returns have been less than 2 percent of net sales. The allowance for outstanding sales returns from customers is insignificant to the consolidated financial statements. | |
Cost Of Sales | ' |
Cost of Sales | |
The expenses that are included in cost of sales include all direct product costs and costs related to shipping, handling, duties and importation fees. Product warranty costs and specific provisions for excess, close-out, or slow moving inventory are also included in cost of sales. PIEPS has implemented a voluntary recall of all of its PIEPS VECTOR avalanche transceivers due to functional issues that may not be readily apparent to a user of this product. As a result of the voluntary recall the Company incurred a charge of $1,541 in costs of sales during the year ended December 31, 2013 and does not anticipate incurring any further charges as a result of the recall. | |
Selling, General And Administrative Expense | ' |
Selling, General and Administrative Expense | |
Selling, general and administrative expense includes personnel-related costs, product development, selling, advertising, depreciation and amortization, and other general operating expenses. Advertising costs are expensed in the period incurred. Total advertising expense was $3,422, $1,973, and $1,790 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Product Warranty | ' |
Product Warranty | |
Some of the Company’s products carry warranty provisions for defects in quality and workmanship. A warranty reserve is established at the time of sale to cover estimated costs based on the Company’s history of warranty repairs and replacements and is recorded in cost of sales. The Company has not experienced significant warranty claims on its products. | |
Reporting Of Taxes Collected | ' |
Reporting of Taxes Collected | |
Taxes collected from customers and remitted to government authorities are reported on the net basis and are excluded from sales. | |
Research And Development | ' |
Research and Development | |
Research and development costs are charged to expense as incurred, and are included in selling, general and administrative expenses in the accompanying consolidated statements of operations. Total research and development costs were $10,069, $5,520, and $4,690 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Income Taxes | ' |
Income Taxes | |
Income Taxes are based on amounts of taxes payable or refundable in the current year and on expected future tax consequences of events that are recognized in the financial statements in different periods than they are recognized in tax returns. As a result of timing of recognition and measurement differences between financial accounting standards and income tax laws, temporary differences arise between amounts of pretax financial statement income and taxable income and between reported amounts of assets and liabilities in the Consolidated Balance Sheets and their respective tax bases. Deferred income tax assets and liabilities reported in the Consolidated Balance Sheets reflect estimated future tax effects attributable to these temporary differences and to net operating loss and net capital loss carryforwards, based on tax rates expected to be in effect for years in which the differences are expected to be settled or realized. Realization of deferred tax assets is dependent on future taxable income in specific jurisdictions. Valuation allowances are used to reduce deferred tax assets to amounts considered likely to be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries where such earnings are considered to be permanently invested. | |
Concentration Of Credit Risk And Sales | ' |
Concentration of Credit Risk and Sales | |
Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and accounts receivable. Risks associated with cash within the United States are mitigated by banking with federally insured, creditworthy institutions. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses as considered necessary by management. | |
During the years ended December 31, 2013 and 2012, Recreational Equipment, Inc. (“REI”) accounted for approximately 12% and 14%, respectively, of the Company’s sales. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
The carrying value of cash, accounts receivable, accounts payable and accrued liabilities approximate their respective fair values due to the short-term nature and liquidity of these financial instruments. Derivative financial instruments are recorded at fair value based on current market pricing models. The Company estimates that, based on current market conditions, the fair value of its long-term debt obligations under its revolving credit facility and senior subordinated notes payable approximate the carrying values at December 31, 2013. | |
Segment Information | ' |
Segment Information | |
The Company has determined that during 2013, 2012, and 2011, the Company operated in one principal business segment. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 establishes new requirements for disclosing reclassifications of items out of accumulated other comprehensive income and includes identification of the line items in net earnings affected by the reclassifications. This standard is effective for annual and interim periods for fiscal years beginning after December 15, 2012 (for us this was our 2013 first quarter). The Company adopted the provisions of this update during the three months ended March 31, 2013, which provides additional detail on those financial statements as applicable, but did not have any other impact on our financial statements. | |
In March 2013, the FASB issued Accounting Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard defines the treatment of the release of cumulative translation adjustments upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in a foreign entity. This standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted and prior periods should not be adjusted. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. | |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Acquisitions [Abstract] | ' | |||
Pro Forma Results | ' | |||
Year Ended December 31, | ||||
2012 | ||||
Sales | $ | 184,052 | ||
Net income | $ | 545 | ||
Net income per share - basic | $ | 0.02 | ||
Net income per share - diluted | $ | 0.02 | ||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Inventories [Abstract] | ' | ||||||
Inventories | ' | ||||||
December 31, | |||||||
2013 | 2012 | ||||||
Finished goods | $ | 45,734 | $ | 53,009 | |||
Work-in-process | 891 | 1,112 | |||||
Raw materials and supplies | 7,429 | 6,543 | |||||
$ | 54,054 | $ | 60,664 | ||||
Property_And_Equipment_Tables
Property And Equipment (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Property Plant And Equipment [Abstract] | ' | ||||||
Property And Equipment | ' | ||||||
December 31, | |||||||
2013 | 2012 | ||||||
Land | $ | 2,850 | $ | 2,850 | |||
Building and improvements | 4,999 | 4,568 | |||||
Furniture and fixtures | 4,680 | 4,140 | |||||
Computer hardware and software | 6,773 | 4,759 | |||||
Machinery and equipment | 13,868 | 11,718 | |||||
Construction in progress | 1,218 | 1,855 | |||||
34,388 | 29,890 | ||||||
Less accumulated depreciation | -16,987 | -12,382 | |||||
$ | 17,401 | $ | 17,508 | ||||
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||||||||
Schedule Of Goodwill | ' | ||||||||||||
Balance at December 31, 2011 | $ | 38,226 | |||||||||||
Increase due to acquisitions | 18,220 | ||||||||||||
Impact of foreign currency exchange rates | 1,035 | ||||||||||||
Balance at December 31, 2012 | $ | 57,481 | |||||||||||
Impact of foreign currency exchange rates | 222 | ||||||||||||
Balance at December 31, 2013 | $ | 57,703 | |||||||||||
Schedule Of Indefinite Lived Intangible Assets | ' | ||||||||||||
Balance at December 31, 2012 | $ | 51,462 | |||||||||||
Impact of foreign currency exchange rates | 217 | ||||||||||||
Balance at December 31, 2013 | $ | 51,679 | |||||||||||
Schedule Of Definite Lived Intangible Assets, Net | ' | ||||||||||||
Gross balance at December 31, 2012 | $ | 42,500 | |||||||||||
Increase due to purchase of customer lists and relationships | 750 | ||||||||||||
Impact of foreign currency exchange rates | 302 | ||||||||||||
Gross balance at December 31, 2013 | $ | 43,552 | |||||||||||
Schedule Of Intangible Assets, Net Of Amortization | ' | ||||||||||||
31-Dec-13 | |||||||||||||
Gross | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
Intangibles subject to amortization | |||||||||||||
Customer relationships | $ | 30,809 | $ | -6,217 | $ | 24,592 | 14.1 years | ||||||
Product technologies | 8,992 | -1,048 | 7,944 | 15.3 years | |||||||||
Trade name | 2,246 | -168 | 2,078 | 20.0 years | |||||||||
Core technologies | 1,505 | -589 | 916 | 9.3 years | |||||||||
$ | 43,552 | $ | -8,022 | $ | 35,530 | 14.5 years | |||||||
31-Dec-12 | |||||||||||||
Gross | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
Intangibles subject to amortization | |||||||||||||
Customer relationships | $ | 29,890 | $ | -3,498 | $ | 26,392 | 14.1 years | ||||||
Product technologies | 8,868 | -421 | 8,447 | 15.3 years | |||||||||
Trade name | 2,237 | -56 | 2,181 | 20.0 years | |||||||||
Core technologies | 1,505 | -425 | 1,080 | 9.3 years | |||||||||
$ | 42,500 | $ | -4,400 | $ | 38,100 | 14.4 years | |||||||
Future Amortization Expense For Definite-Lived Intangible Assets | ' | ||||||||||||
Format 2014 | $ | 3,594 | |||||||||||
Format 2015 | 3,209 | ||||||||||||
Format 2016 | 2,719 | ||||||||||||
Format 2017 | 2,719 | ||||||||||||
Format 2018 | 2,678 | ||||||||||||
Thereafter | 20,611 | ||||||||||||
$ | 35,530 | ||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-Term Debt [Abstract] | ' | ||||||
Components Of Long-Term Debt | ' | ||||||
December 31, | |||||||
2013 | 2012 | ||||||
Revolving credit facilities (a) | $ | 10,320 | $ | 20,000 | |||
Foreign credit facilities (b) | 997 | 3,995 | |||||
5% Senior Subordinated Notes due 2017 (c) | 17,154 | 15,992 | |||||
Capital leases (d) | 47 | 119 | |||||
Term notes (e) | 9,523 | 382 | |||||
38,041 | 40,488 | ||||||
Less current portion | -1,910 | -4,059 | |||||
$ | 36,131 | $ | 36,429 | ||||
Aggregate maturities of long-term debt and revolving lines of credit | ' | ||||||
2014 | $ | 1,910 | |||||
2015 | 936 | ||||||
2016 | 11,258 | ||||||
2017 | 23,654 | ||||||
2018 | 1,003 | ||||||
Thereafter | 4,737 | ||||||
Total future long-term debt payments | 43,498 | ||||||
Less amount representing debt discounts | -5,457 | ||||||
Total carrying amount of long-term debt | 38,041 | ||||||
Less current portion | -1,910 | ||||||
Long-term debt obligations | $ | 36,131 | |||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments - (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||
Schedule Of Contracts Designated As Hedged Instruments | ' | ||||||||
31-Dec-13 | |||||||||
Notional | Latest | ||||||||
Amount | Maturity | ||||||||
Foreign exchange contracts - Canadian Dollars | 1,062 | 14-Feb | |||||||
Foreign exchange contracts - Norwegian Kroner | 9,253 | 14-Aug | |||||||
Foreign exchange contracts - British Pounds | 2,626 | 15-Feb | |||||||
Foreign exchange contracts - Euros | 20,772 | 15-Feb | |||||||
Foreign exchange contracts - Swiss Francs | 30,698 | 15-Feb | |||||||
Foreign exchange contracts - Japanese Yen | 792,696 | 15-Feb | |||||||
Foreign exchange contracts - Swedish Kronor | 6,034 | 15-Feb | |||||||
31-Dec-12 | |||||||||
Notional | Latest | ||||||||
Amount | Maturity | ||||||||
Foreign exchange contracts - Norwegian Kroner | 7,131 | 14-Feb | |||||||
Foreign exchange contracts - British Pounds | 1,452 | 14-Feb | |||||||
Foreign exchange contracts - Euros | 17,186 | 14-Feb | |||||||
Foreign exchange contracts - Swiss Francs | 23,838 | 14-Feb | |||||||
Foreign exchange contracts - Canadian Dollars | 10,499 | 14-Feb | |||||||
Schedule Of Derivative Instruments Fair Value And Balance Sheet Classification | ' | ||||||||
Classification | 31-Dec-13 | 31-Dec-12 | |||||||
Derivative instruments in asset positions: | |||||||||
Forward exchange contracts | Prepaid and other current assets | $ | 682 | $ | 680 | ||||
Forward exchange contracts | Other long-term assets | $ | 76 | $ | - | ||||
Derivative instruments in liability positions: | |||||||||
Forward exchange contracts | Accounts payable and accrued liabilities | $ | 1,492 | $ | 918 | ||||
Forward exchange contracts | Other long-term liabilities | $ | 230 | $ | - | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||
Components Of Accumulated Other Comprehensive Income | ' | |||||||||
Foreign Currency Translation Adjustments | Unrealized Gains (Losses) on Cash Flow Hedges | Total | ||||||||
Balance as of December 31, 2012 | $ | 5,880 | $ | -169 | $ | 5,711 | ||||
Other comprehensive income before reclassifications | 1,294 | 73 | 1,367 | |||||||
Amounts reclassified from other comprehensive income | - | -515 | -515 | |||||||
Net current period other comprehensive income (loss) | 1,294 | -442 | 852 | |||||||
Balance as of December 31, 2013 | $ | 7,174 | $ | -611 | $ | 6,563 | ||||
Reclassification Out Of Accumulated Other Comprehensive Income | ' | |||||||||
Affected line item in the Consolidated Statement of Comprehensive (Loss) Income | Gains reclassified from AOCI to the Consolidated Statement of Comprehensive (Loss) Income | |||||||||
Sales | $ | 804 | ||||||||
Income tax benefit | 289 | |||||||||
Amount reclassified net of tax | $ | 515 | ||||||||
Fair_Value_Of_Measurements_Tab
Fair Value Of Measurements - (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Of Measurements [Abstract] | ' | ||||||||||||
Schedule Of Assets And Liabilities Measured On A Recurring Basis | ' | ||||||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||
Forward exchange contracts | $ | - | $ | 758 | $ | - | $ | 758 | |||||
$ | - | $ | 758 | $ | - | $ | 758 | ||||||
Liabilities | |||||||||||||
Forward exchange contracts | $ | - | $ | 1,722 | $ | - | $ | 1,722 | |||||
$ | - | $ | 1,722 | $ | - | $ | 1,722 | ||||||
31-Dec-12 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets | |||||||||||||
Forward exchange contracts | $ | - | $ | 680 | $ | - | $ | 680 | |||||
$ | - | $ | 680 | $ | - | $ | 680 | ||||||
Liabilities | |||||||||||||
Forward exchange contracts | $ | - | $ | 918 | $ | - | $ | 918 | |||||
$ | - | $ | 918 | $ | - | $ | 918 | ||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule Of Reconciliation Of Basic And Diluted Shares Of Common Stock Outstanding Used In Calculation Of Earnings Per Share | ' | |||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average shares outstanding - basic | 32,007 | 29,817 | 21,845 | |||||||
Effect of dilutive stock awards | - | 309 | 201 | |||||||
Weighted average shares outstanding - diluted | 32,007 | 30,126 | 22,046 | |||||||
(Loss) earnings per share: | ||||||||||
Basic | $ | -0.18 | $ | 0.07 | $ | 0.22 | ||||
Diluted | -0.18 | 0.06 | 0.22 | |||||||
StockBased_Compensation_Plan_T
Stock-Based Compensation Plan (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stock-Based Compensation Plan [Abstract] | ' | ||||||||||||
Schedule Of Valuation Assumptions Used In Computing Fair Value Of Stock-Based Awards | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Number of options | 143 | 485 | 270 | 500 | 233 | ||||||||
Option vesting period | 1-5 Years | Immediate | 1-5 Years | 3-6 Years | 1-5 Years | ||||||||
Grant price | $8.02 - $13.38 | $10.40 - $14.71 | $7.64 - $9.89 | $13.00 - $16.00 | $6.22 - $8.86 | ||||||||
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||
Expected volatility (a) | 52.8% - 55.2% | 51.6% - 53.9% | 53.3% - 59.2% | 50.3% - 58.6% | 55.8% - 59.6% | ||||||||
Risk-free interest rate | 1.04% - 2.45% | 1.36% - 1.62% | .71% - 1.44% | .39% - 1.04% | 1.41% - 2.92% | ||||||||
Expected life (years) | 5.31 - 7.08 (b) | 5.00 (c) | 5.31 - 7.08 (b) | 3.25 - 6.25 (b) | 5.31 - 6.95 (b) | ||||||||
Discount for post-vesting restrictions (d) | 0.00% | 11.5% - 35.0% | 0.00% | 0.00% | 0.00% | ||||||||
Weighted average fair value | $4.23 - $7.53 | $1.59 - $5.25 | $4.40 - $5.34 | $2.64 - $3.94 | $3.65 - $5.04 | ||||||||
(a) | Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. | ||||||||||||
(b) | Because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for these grants, the Company utilized the simplified method in developing an estimate of the expected term of these options. | ||||||||||||
(c) | The Company considered the applicable employee groups as well as the anticipated exercise behavior over the contractual term of the award in developing an estimate of the expected term of these options. | ||||||||||||
(d) | Because options with post-vesting restrictions create a lack of marketability, the Company discounted the market price used in the Black-Scholes option-pricing model. The Company utilized the Finnerty and Forward Sale models to calculate the discount. | ||||||||||||
Schedule Of Share Based Payment Award Restricted Stock Valuation Assumptions | ' | ||||||||||||
2011 | |||||||||||||
Number issued | 250 | ||||||||||||
Vesting Period | $14.00 Stock Price target | ||||||||||||
Grant Price | $7.34 | ||||||||||||
Dividend Yield | 0.00% | ||||||||||||
Expected Volatility (a) | 58.00% | ||||||||||||
Risk-free Interest Rate | 2.64% | ||||||||||||
Expected Life (Years) | 1.9 | ||||||||||||
Weighted Average Fair Value | $6.27 | ||||||||||||
(a) | Since the Company’s historical volatility was not representative of the ongoing future business, the Company’s historical volatility was based on a combination of the Company’s volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. | ||||||||||||
Schedule Of Total Non-Cash Stock Compensation Expense Related To Stock Options And Restricted Stock | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Restricted stock awards | $ | 81 | $ | 739 | $ | 2,462 | |||||||
Stock options | 2,904 | 1,027 | 629 | ||||||||||
Stock awards | 25 | - | - | ||||||||||
Total | $ | 3,010 | $ | 1,766 | $ | 3,091 | |||||||
Summary Of Changes In Outstanding Awards | ' | ||||||||||||
Options | Weighted Average Exercise Price | Aggregate Intrinsic Value | Restricted Stock Awards | ||||||||||
Outstanding at December 31, 2012 | 2,712 | $ | 8.98 | $ | - | 750 | |||||||
Granted | 628 | 10.30 | 90 | ||||||||||
Exercised or vested | -185 | 6.43 | -500 | ||||||||||
Expired | - | - | - | ||||||||||
Forfeited | -74 | 8.95 | - | ||||||||||
Outstanding at December 31, 2013 | 3,081 | $ | 9.33 | $ | 12,320 | 340 | |||||||
Options exercisable at December 31, 2013 | 2,137 | $ | 8.50 | $ | 10,308 | ||||||||
Schedule Of Shares Authorized Under Stock Option Plans, By Exercise Price Range | ' | ||||||||||||
Exercise Price Range | Outstanding | Exercisable | Remaining Life In Years | Weighted Average Exercise Price | |||||||||
$4.00 - $10.39 | 2,125 | 1,652 | 3.7 | $ | 7.91 | ||||||||
$10.40 - $14.71 | 956 | 485 | 7.7 | $ | 10.54 | ||||||||
3,081 | 2,137 | 4.7 | $ | 8.50 | |||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments And Contingencies [Abstract] | ' | |||
Schedule Of Future Minimum Lease Payments Under Noncancelable Operating Leases | ' | |||
2014 | $ | 2,099 | ||
2015 | 1,490 | |||
2016 | 1,082 | |||
2017 | 589 | |||
2018 | 178 | |||
Thereafter | 12 | |||
$ | 5,450 | |||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Components Of Consolidated Income (Losses) From Continuing Operations Before Income Taxes | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | -1,497 | $ | 3,179 | $ | 1,755 | |||||||
Foreign operations | -6,446 | -3,091 | 449 | ||||||||||
(Loss) income before income tax | $ | -7,943 | $ | 88 | $ | 2,204 | |||||||
Components Of Income Tax Provision (Benefit) | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 24 | $ | 10 | $ | 206 | |||||||
State and local | 71 | -20 | 41 | ||||||||||
Foreign | 327 | 3 | 321 | ||||||||||
422 | -7 | 568 | |||||||||||
Deferred: | |||||||||||||
Federal | -1,155 | 2,115 | 98 | ||||||||||
State and local | 563 | -1,067 | -132 | ||||||||||
Foreign | -1,413 | -1,605 | -222 | ||||||||||
-2,005 | -557 | -256 | |||||||||||
Decrease in valuation allowance for deferred income taxes | -490 | -1,300 | -3,000 | ||||||||||
-2,495 | -1,857 | -3,256 | |||||||||||
Income tax benefit | $ | -2,073 | $ | -1,864 | $ | -2,688 | |||||||
Schedule Of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Computed "expected" income tax (benefit) expense | -34 | % | 34.0 | % | 34.0 | % | |||||||
Increase (decrease) in income taxes resulting from: | |||||||||||||
Foreign taxes | 10.9 | 145.1 | -2.4 | ||||||||||
State income taxes, net of federal income taxes | -0.1 | 126.2 | 3.5 | ||||||||||
Income tax credits | -7.3 | - | - | ||||||||||
Incentive stock options | 3.5 | - | - | ||||||||||
Transactions costs | - | 682.9 | - | ||||||||||
Change in effective state rate | - | -501.4 | - | ||||||||||
Change in enacted foreign statutory rates | - | -1,178.10 | - | ||||||||||
Other | 0.4 | 365.4 | -21 | ||||||||||
Decrease in valuation allowance | 0.5 | -1,792.30 | -136.1 | ||||||||||
Income tax benefit | -26.1 | % | -2,118.20 | % | -122 | % | |||||||
Schedule Of Deferred Tax Assets And Liabilities | ' | ||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss, capital loss amount and research & experimentation credit carryforwards | $ | 82,820 | $ | 82,140 | |||||||||
Non-cash compensation | 2,304 | 2,717 | |||||||||||
Accrued liabilities | 2,100 | 1,968 | |||||||||||
Reserves and other | 3,318 | 2,740 | |||||||||||
Intangibles | 2,056 | 2,411 | |||||||||||
92,598 | 91,976 | ||||||||||||
Valuation allowance | -17,120 | -17,610 | |||||||||||
Net deferred tax assets | 75,478 | 74,366 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation | -1,057 | -1,219 | |||||||||||
Discount on notes | -1,967 | -2,383 | |||||||||||
Intangibles | -25,746 | -26,610 | |||||||||||
Other | -141 | -300 | |||||||||||
-28,911 | -30,512 | ||||||||||||
Total | $ | 46,567 | $ | 43,854 | |||||||||
Schedule Of Roll Forward Of Valuation Allowance For Deferred Income Tax Assets | ' | ||||||||||||
Balance at Beginning of Period | Charged (Credited) to Costs and Expenses | Other Adjustments (a) | Balance at End of Period | ||||||||||
2011 | $ | 21,504 | $ | -3,000 | $ | - | $ | 18,504 | |||||
2012 | 18,504 | -1,300 | 406 | 17,610 | |||||||||
2013 | $ | 17,610 | $ | -490 | $ | - | $ | 17,120 | |||||
(a) | Increase in valuation allowance due to the acquisition of certain deferred tax assets where the more likely than not criteria was not met. | ||||||||||||
Summary Of Tax Credit Carryforwards | ' | ||||||||||||
Net Operating Loss Carryforward Expiration Dates | |||||||||||||
31-Dec-13 | |||||||||||||
Expiration Dates December 31, | Net Operating Loss Amount | ||||||||||||
2020 | $ | 26,231 | |||||||||||
2021 | 50,430 | ||||||||||||
2022 | 115,000 | ||||||||||||
2023 | 5,712 | ||||||||||||
2024 | 3,566 | ||||||||||||
2025 | 1,707 | ||||||||||||
2026 | 584 | ||||||||||||
2027 | 586 | ||||||||||||
2028 | 1,646 | ||||||||||||
2029 | 4,074 | ||||||||||||
2030 and beyond | 6,026 | ||||||||||||
Total | 215,562 | ||||||||||||
Tax windfall | -5,154 | ||||||||||||
After limitations | $ | 210,408 | |||||||||||
Supplementary_Data_Quarterly_F1
Supplementary Data - Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplementary Data - Quarterly Financial Data [Abstract] | ' | ||||||||||||
Schedule Of Selected Quarterly Data | ' | ||||||||||||
Year Ended December 31, 2013 | |||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||
(in thousands, except per share amounts) | |||||||||||||
Net sales | $ | 51,000 | $ | 38,855 | $ | 52,776 | $ | 60,405 | |||||
Gross profit | 19,216 | 15,654 | 19,670 | 22,945 | |||||||||
Operating (loss) income | -2,034 | -2,482 | -1,490 | 1,316 | |||||||||
Net (loss) income | -3,032 | -2,268 | -1,306 | 736 | |||||||||
(Loss) earnings per share: | |||||||||||||
Basic (loss) earnings per share | $ | -0.1 | $ | -0.07 | $ | -0.04 | $ | 0.02 | |||||
Diluted (loss) earnings per share | -0.1 | -0.07 | -0.04 | 0.02 | |||||||||
Year Ended December 31, 2012 | |||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||
(in thousands, except per share amounts) | |||||||||||||
Net sales | $ | 46,419 | $ | 31,915 | $ | 48,742 | $ | 48,801 | |||||
Gross profit | 18,616 | 12,466 | 18,459 | 17,723 | |||||||||
Operating income (loss) | 4,729 | -1,991 | 1,535 | -2,097 | |||||||||
Net income (loss) | 2,590 | -1,908 | 726 | 544 | |||||||||
Earnings (loss) per share: | |||||||||||||
Basic earnings (loss) per share | $ | 0.10 | $ | -0.06 | $ | 0.02 | $ | 0.02 | |||||
Diluted earnings (loss) per share | 0.10 | -0.06 | 0.02 | 0.02 | |||||||||
Nature_Of_Operations_And_Summa2
Nature Of Operations And Summary Of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | 36 Months Ended | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Maximum [Member] | Building Improvements [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Furniture and Fixtures [Member] | Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | |||||
Minimum [Member] | Maximum [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | ||||||||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | ' | $641 | $499 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful Life | ' | ' | ' | ' | ' | '20 years | '3 years | '10 years | '5 years | ' | ' |
Sales returns as percentage of net sales | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' |
Inventory recall expense | 1,541 | 1,541 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising expense | ' | 3,422 | 1,973 | 1,790 | ' | ' | ' | ' | ' | ' | ' |
Research and development costs | ' | $10,069 | $5,520 | $4,690 | ' | ' | ' | ' | ' | ' | ' |
Concentration risk, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | 14.00% |
Public_Offering_Details
Public Offering (Details) (USD $) | 0 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Feb. 22, 2012 |
Public Offering [Abstract] | ' |
Shares issued during Offering | 7,750 |
Additional shares of common stock to cover an over-allotment option granted to underwriters | 1,163 |
Offering price per share | $7.50 |
Reserved shares | 1,333 |
Number of days restricting the sale of reserved shares | '90 days |
Underwriting discount on sale of common shares, percentage | 6.00% |
Underwriting discount on sale of common shares, amount per share | $0.45 |
Proceeds from issuance of common stock shares in Offering | $63,400 |
Acquisitions_Pro_Forma_Results
Acquisitions (Pro Forma Results) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 |
Acquisitions [Abstract] | ' |
Sales | $184,052 |
Net income | $545 |
Net income per share - basic | $0.02 |
Net income per share - diluted | $0.02 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Finished goods | $45,734 | $53,009 |
Work-in-process | 891 | 1,112 |
Raw materials and supplies | 7,429 | 6,543 |
Inventories | $54,054 | $60,664 |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $4,696 | $3,685 | $3,351 |
Property_And_Equipment_Details
Property And Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment [Abstract] | ' | ' |
Land | $2,850 | $2,850 |
Buildings and improvements | 4,999 | 4,568 |
Furniture and fixtures | 4,680 | 4,140 |
Computer hardware and software | 6,773 | 4,759 |
Machinery and equipment | 13,868 | 11,718 |
Construction in progress | 1,218 | 1,855 |
Property and equipment, gross | 34,388 | 29,890 |
Less accumulated depreciation | -16,987 | -12,382 |
Property and equipment | $17,401 | $17,508 |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Other Intangible Assets [Abstract] | ' | ' | ' |
Goodwill | $57,703 | $57,481 | $38,226 |
Amortization expense of intangible assets | $3,583 | $2,268 | $1,331 |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible Assets (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Other Intangible Assets [Abstract] | ' | ' |
Balance at December 31, 2011 | $57,703 | $57,481 |
Balance at December 31, 2012 | 57,481 | 38,226 |
Increase due to acquisitions | ' | 18,220 |
Impact of foreign currency exchange rates | 222 | 1,035 |
Balance at December 31, 2013 | $57,703 | $57,481 |
Goodwill_And_Other_Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Indefinite Lived Intangible Assets) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Acquisitions [Abstract] | ' |
Balance at December 31, 2012 | $51,462 |
Impact of foreign currency exchange rates | 217 |
Balance at December 31, 2013 | $51,679 |
Goodwill_And_Other_Intangible_5
Goodwill And Other Intangible Assets (Schedule Of Definite Lived Intangible Assets, Net) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Acquisitions [Abstract] | ' |
Gross balance at December 31, 2012 | $42,500 |
Increase due to acquisitions | 750 |
Impact of foreign currency exchange rates | 302 |
Gross balance at December 31, 2013 | $43,552 |
Goodwill_And_Other_Intangible_6
Goodwill And Other Intangible Assets (Schedule Of Intangible Assets, Net Of Amortization) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, gross | $43,552 | $42,500 |
Less accumulated amortization | -8,022 | -4,400 |
Intangible assets, net | 35,530 | 38,100 |
Weighted average useful life | '14 years 6 months | '14 years 4 months 24 days |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, gross | 30,809 | 29,890 |
Less accumulated amortization | -6,217 | -3,498 |
Intangible assets, net | 24,592 | 26,392 |
Weighted average useful life | '14 years 1 month 6 days | '14 years 1 month 6 days |
Product Technologies [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, gross | 8,992 | 8,868 |
Less accumulated amortization | -1,048 | -421 |
Intangible assets, net | 7,944 | 8,447 |
Weighted average useful life | '15 years 3 months 18 days | '15 years 3 months 18 days |
Trade Name [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, gross | 2,246 | 2,237 |
Less accumulated amortization | -168 | -56 |
Intangible assets, net | 2,078 | 2,181 |
Weighted average useful life | '20 years | '20 years |
Core Technologies [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, gross | 1,505 | 1,505 |
Less accumulated amortization | -589 | -425 |
Intangible assets, net | $916 | $1,080 |
Weighted average useful life | '9 years 3 months 18 days | '9 years 3 months 18 days |
Goodwill_And_Other_Intangible_7
Goodwill And Other Intangible Assets (Future Amortization Expense For Definite-Lived Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Other Intangible Assets [Abstract] | ' | ' |
2014 | $3,594 | ' |
2015 | 3,209 | ' |
2016 | 2,719 | ' |
2017 | 2,719 | ' |
2018 | 2,678 | ' |
Thereafter | 20,611 | ' |
Intangible assets, net | $35,530 | $38,100 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
In Thousands, unless otherwise specified | 28-May-10 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2014 | Feb. 28, 2014 |
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Foreign Line of Credit [Member] | Foreign Line of Credit [Member] | Zions First National Bank [Member] | Foreign Financial Institutions [Member] | Foreign Financial Institutions [Member] | Gregory Stockholders [Member] | Gregory Stockholders [Member] | Government Entity And Other Financial Institutions [Member] | Loan Agreement [Member] | Loan Agreement [Member] | Loan Agreement [Member] | Securitized Receivables Facilities [Member] | Securitized Receivables Facilities [Member] | Additional Subordinated Debt [Member] | Capital Lease Obligations [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||
Term Facility [Member] | Term Facility [Member] | Gregory Stockholders [Member] | Foreign Financial Institutions [Member] | Government Entity And Other Financial Institutions [Member] | Loan Agreement [Member] | Capital Lease Obligations [Member] | Foreign Financial Institutions [Member] | Government Entity And Other Financial Institutions [Member] | Loan Agreement [Member] | Capital Lease Obligations [Member] | Amended And Restated Term Loan Promissory Note [Member] | Terminated Acquisition Facility Agreement [Member] | ||||||||||||||||||||
Term Facility [Member] | ||||||||||||||||||||||||||||||||
Line Of Credit Facility And Long Term Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
5% Unsecured Subordinated Notes | ' | $17,154 | $15,992 | ' | ' | ' | ' | ' | ' | ' | $22,056 | ' | ' | ' | ' | ' | ' | ' | $554 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subordinated debt interest rate | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discounted subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,127 | ' | ' | ' | ' | ' | ' | ' | 316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,162 | 1,012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term note | ' | 9,523 | 382 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | 5,457 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 1 | ' | 3 | ' | 4 | ' | ' |
Line of credit facility, amount outstanding | ' | ' | ' | 10,320 | 20,000 | 997 | 3,995 | 10,320 | 340 | 1,488 | ' | ' | ' | ' | ' | 10,000 | 683 | 2,569 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | 30,000 | 1,956 | 2,593 | ' | ' | ' | 30,000 | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 10,000 |
Credit facility current borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | 2,314 | 4,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity for funding permanent working capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility expiration date | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt to EBITDA ratio used in margin calculation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | 3.75% | ' | ' | ' |
Unused commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.40% | ' | ' | ' | 0.60% | ' | ' | ' |
Drawing on credit facility | ' | ' | ' | ' | ' | ' | ' | ' | 314 | 1,426 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.56% | ' | ' | ' | ' | ' | 2.75% | ' | ' | ' | 3.30% | ' | ' | ' | ' | ' |
Securitized accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 683 | 2,569 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities related to securitized assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 683 | 2,569 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate range, minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | 6.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate range, maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date range start | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-14 | ' | ' | ' | 1-Jan-16 | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date range start | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Nov-16 | ' | ' | ' | ' | ' | ' | ' | 1-Mar-17 | ' | ' | ' | ' |
Debt maturity date | ' | ' | ' | ' | ' | ' | ' | 8-Mar-16 | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Machinery and Equipment, Gross | ' | 13,868 | 11,718 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228 | 268 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | ' | $16,987 | $12,382 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $98 | $87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Components_Of_Lo
Long-Term Debt (Components Of Long-Term Debt) (Details) (USD $) | 0 Months Ended | ||
In Thousands, unless otherwise specified | 28-May-10 | Dec. 31, 2013 | Dec. 31, 2012 |
Line Of Credit Facility And Long Term Debt [Line Items] | ' | ' | ' |
5% Senior Subordinated Notes due 2017 | ' | $17,154 | $15,992 |
Capital leases | ' | 47 | 119 |
Term note | ' | 9,523 | 382 |
Total carrying amount of long-term debt | ' | 38,041 | 40,488 |
Less current portion | ' | -1,910 | -4,059 |
Long-term debt, net | ' | 36,131 | 36,429 |
Unsecured Subordinated Notes, interest rate | 5.00% | ' | ' |
Revolving Credit Facility [Member] | ' | ' | ' |
Line Of Credit Facility And Long Term Debt [Line Items] | ' | ' | ' |
Credit facility | ' | 10,320 | 20,000 |
Foreign Line of Credit [Member] | ' | ' | ' |
Line Of Credit Facility And Long Term Debt [Line Items] | ' | ' | ' |
Credit facility | ' | $997 | $3,995 |
LongTerm_Debt_Aggregate_maturi
Long-Term Debt (Aggregate maturities of long-term debt and revolving lines of credit) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long-Term Debt [Abstract] | ' | ' |
2014 | $1,910 | ' |
2015 | 936 | ' |
2016 | 11,258 | ' |
2017 | 23,654 | ' |
2018 | 1,003 | ' |
Thereafter | 4,737 | ' |
Total future long-term debt payments | 43,498 | ' |
Less amount representing debt discounts | -5,457 | ' |
Total carrying amount of long-term debt | 38,041 | 40,488 |
Less current portion | -1,910 | -4,059 |
Long-term debt obligations | $36,131 | $36,429 |
Other_LongTerm_Liabilites_Narr
Other Long-Term Liabilites (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Liabilities, Other than Long-term Debt, Noncurrent | ' | ' |
Other long-term liabilities | $1,997 | $2,000 |
Defined benefit pension plan | 1,621 | 1,479 |
Insurance settlements receivable | $1,621 | $1,479 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Financial Instruments [Abstract] | ' | ' | ' |
Remaining maturity of derivative contracts | ' | '1 year 6 months | ' |
Maximum net exposure to counterparty | $964 | ' | ' |
Cash flow hedge gain (loss) reclassified to revenue | 804 | 394 | ' |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 611 | 169 | ' |
Adjustment to accumulated other comprehensive income | ($442) | ($675) | $743 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Schedule Of Contracts Designated As Hedged Instruments) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Canadian Dollars [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | $1,062 | $10,499 |
Derivative, Maturity Date | 1-Feb-14 | 1-Feb-14 |
Norwegian Kroners [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | 9,253 | 7,131 |
Derivative, Maturity Date | 1-Aug-14 | 1-Feb-14 |
British Pounds [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | 2,626 | 1,452 |
Derivative, Maturity Date | 1-Feb-15 | 1-Feb-14 |
Euros [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | 20,772 | 17,186 |
Derivative, Maturity Date | 1-Feb-15 | 1-Feb-14 |
Swiss Francs [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | 30,698 | 23,838 |
Derivative, Maturity Date | 1-Feb-15 | 1-Feb-14 |
Japanese Yen [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | 792,696 | ' |
Derivative, Maturity Date | 1-Feb-15 | ' |
Swedish Kronor [Member] | ' | ' |
Foreign Exchange Contracts [Line Items] | ' | ' |
Foreign exchange contracts, Notional Amount | $6,034 | ' |
Derivative, Maturity Date | 1-Feb-15 | ' |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Schedule Of Derivative Instruments Fair Value And Balance Sheet Classification) (Details) (Forward exchange contracts [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Prepaid And Other Current Assets [Member] | ' | ' |
Derivative instruments in asset positions, Foreign exchange contracts | $682 | $680 |
Other Long-Term Assets [Member] | ' | ' |
Derivative instruments in asset positions, Foreign exchange contracts | 76 | ' |
Accounts Payable And Accrued Liabilities [Member] | ' | ' |
Derivative instruments in liability positions, Foreign exchange contracts | 1,492 | 918 |
Other Long-Term Liabilities [Member] | ' | ' |
Derivative instruments in liability positions, Foreign exchange contracts | $230 | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Components Of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | $5,711 | ' | ' |
Other comprehensive income before reclassifications | 1,367 | ' | ' |
Amounts reclassified from other comprehensive income | -515 | ' | ' |
Net current period other comprehensive income (loss) | 852 | 2,967 | 1,119 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 6,563 | 5,711 | ' |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 5,880 | ' | ' |
Other comprehensive income before reclassifications | 1,294 | ' | ' |
Net current period other comprehensive income (loss) | 1,294 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 7,174 | ' | ' |
Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -169 | ' | ' |
Other comprehensive income before reclassifications | 73 | ' | ' |
Amounts reclassified from other comprehensive income | -515 | ' | ' |
Net current period other comprehensive income (loss) | -442 | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | ($611) | ' | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Reclassification Out Of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales | $60,405 | $52,776 | $38,855 | $51,000 | $48,801 | $48,742 | $31,915 | $46,419 | $203,036 | $175,877 | $145,775 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2,073 | -1,864 | -2,688 |
Amount reclassified net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 515 | ' | ' |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 804 | ' | ' |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 289 | ' | ' |
Amount reclassified net of tax | ' | ' | ' | ' | ' | ' | ' | ' | $515 | ' | ' |
Fair_Value_Of_Measurements_Det
Fair Value Of Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward exchange contract, asset, fair value | $758 | $680 |
Forward exchange contract, liability, fair value | 1,722 | 918 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward exchange contract, asset, fair value | ' | ' |
Forward exchange contract, liability, fair value | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward exchange contract, asset, fair value | 758 | 680 |
Forward exchange contract, liability, fair value | 1,722 | 918 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward exchange contract, asset, fair value | ' | ' |
Forward exchange contract, liability, fair value | ' | ' |
Earnings_Per_Share_Narrative_D
Earnings Per Share - (Narrative) (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 322 | 750 | 750 |
Due To Net Loss In Period [Member] | Stock Options | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 2,095 | ' | ' |
Due To Net Loss In Period [Member] | Restricted Stock | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 11 | ' | ' |
Due To Exercise Price Exceeding Average Market Price Of Common Stock [Member] | Stock Options | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, number of shares | 711 | 696 | 800 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Reconciliation Of Basic And Diluted Shares Of Common Stock Outstanding Used In Calculation Of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Weighted Average Number of Shares Outstanding Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average number of shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 32,007 | 29,817 | 21,845 |
Weighted average number of shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 32,007 | 30,126 | 22,046 |
Basic earnings (loss) per share | $0.02 | ($0.04) | ($0.07) | ($0.10) | $0.02 | $0.02 | ($0.06) | $0.10 | ($0.18) | $0.07 | $0.22 |
Diluted earnings (loss) per share | $0.02 | ($0.04) | ($0.07) | ($0.10) | $0.02 | $0.02 | ($0.06) | $0.10 | ($0.18) | $0.06 | $0.22 |
Stock Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of dilutive stock awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | 309 | 201 |
StockBased_Compensation_Plan_N
Stock-Based Compensation Plan (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Jan. 17, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 15, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Maximum number of shares of common stock that may be granted through awards to any employee in any calendar year | ' | 500 | ' | ' | ' |
Number of shares authorized under the plan | ' | 5,732 | ' | ' | ' |
Annual automatic increase in shares authorized under the plan, percentage | ' | 4.00% | ' | ' | ' |
Number of stock options issued under a plan | ' | 628 | ' | ' | ' |
Stock options granted fair value | ' | $2,303 | $3,011 | $987 | ' |
Common stock awarded | ' | 3 | ' | ' | ' |
Share Price | ' | $7.85 | ' | ' | $8.01 |
Fair value of the restricted stock awards granted | ' | 936 | ' | 1,567 | ' |
Unvested stock options | ' | 944 | ' | ' | ' |
Unrecognized compensation cost related to unvested stock options | ' | 2,843 | ' | ' | ' |
Unvested restricted stock awards | ' | 340 | ' | ' | ' |
Stock based compensation expense | ' | 3,010 | 1,766 | 3,091 | ' |
Unrecognized compensation cost related to unvested restricted stock awards | ' | 854 | ' | ' | ' |
Restricted stock awards granted in period | 250 | 90 | ' | ' | ' |
Restricted stock award term | ' | '7 years | ' | ' | ' |
Threshold share price period for vesting condition | ' | '20 days | ' | ' | ' |
Threshold share price | ' | $14 | ' | ' | ' |
Cost of Sales [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Stock based compensation expense | ' | 221 | ' | ' | ' |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Stock based compensation expense | ' | $2,789 | ' | ' | ' |
Stock Options | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Number of stock options issued under a plan | ' | ' | ' | 233 | ' |
Restricted Stock | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Unvested restricted stock awards | ' | 340 | 750 | ' | ' |
Stock Option One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Number of stock options issued under a plan | ' | 143 | 270 | ' | ' |
Minimum [Member] | Stock Options | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | '1 year | ' |
Minimum [Member] | Restricted Stock | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | '2 years | ' | ' | ' |
Minimum [Member] | Stock Option One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | '1 year | '1 year | ' | ' |
Maximum [Member] | Stock Options | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | '5 years | ' |
Maximum [Member] | Restricted Stock | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | '5 years | ' | ' | ' |
Maximum [Member] | Stock Option One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Vesting period | ' | '5 years | '5 years | ' | ' |
Installment Schedule One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Unvested stock options | ' | 5 | ' | ' | ' |
Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Nonvested options that will vest in consequent years | ' | 98 | ' | ' | ' |
Restricted Stock Vesting Schedule One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Unvested restricted stock awards | ' | 18 | ' | ' | ' |
Vest In Four Equal Consecutive Quarterly Tranches From The Date Of Grant | Stock Option One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Unvested stock options | ' | 40 | ' | ' | ' |
Vesting On March 31, 2015 [Member] | Installment Schedule One [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Unvested stock options | ' | 2 | ' | ' | ' |
Vesting On December 31, 2014 [Member] | Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares vesting, first installment | ' | 14 | ' | ' | ' |
Vesting On December 31, 2015 [Member] | Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares vesting, second installment | ' | 27 | ' | ' | ' |
Vesting On December 31, 2016 [Member] | Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares vesting, third installment | ' | 31 | ' | ' | ' |
Vesting On December 31, 2017 [Member] | Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares vesting, forth installment | ' | 19 | ' | ' | ' |
Vesting on December 31, 2018 [Member] | Installment Schedule Two [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares vesting, fifth installment | ' | 7 | ' | ' | ' |
Vesting Immediately [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Number of stock options issued under a plan | ' | 485 | ' | ' | ' |
Vesting Contingent On Service Conditions And Sales Targets [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Restricted stock awards granted in period | ' | 72 | ' | ' | ' |
StockBased_Compensation_Plan_S
Stock-Based Compensation Plan (Schedule Of Valuation Assumptions Used In Computing Fair Value Of Stock-Based Awards) (Details) (USD $) | 12 Months Ended | ||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||
Stock Options | Stock Options | Stock Options | Stock Option One [Member] | Stock Option One [Member] | Stock Option One [Member] | Stock Option One [Member] | Stock Option One [Member] | Stock Option One [Member] | Stock Option Two [Member] | Stock Option Two [Member] | Stock Option Two [Member] | Stock Option Two [Member] | Stock Option Two [Member] | Stock Option Two [Member] | |||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Options granted | 628 | ' | 233 | ' | ' | 143 | 270 | ' | ' | ' | ' | 485 | 500 | ' | ' | ' | ' | ||||||
Vesting period | ' | ' | ' | '1 year | '5 years | ' | ' | '1 year | '1 year | '5 years | '5 years | ' | ' | ' | '3 years | ' | '6 years | ||||||
Grant price | ' | $7.34 | ' | $6.22 | $8.86 | ' | ' | $8.02 | $7.64 | $13.38 | $9.89 | ' | ' | $10.40 | $13 | $14.71 | $16 | ||||||
Dividend yield | ' | 0.00% | 0.00% | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ||||||
Expected volatility, minimum | ' | ' | ' | 55.80% | ' | ' | ' | 52.80% | 53.30% | ' | ' | ' | ' | 51.60% | 50.30% | ' | ' | ||||||
Expected volatility, maximum | ' | ' | ' | ' | 59.60% | ' | ' | ' | ' | 55.20% | 59.20% | ' | ' | ' | ' | 53.90% | 58.60% | ||||||
Risk-free interest rate, minimum | ' | ' | ' | 1.41% | ' | ' | ' | 1.04% | 0.71% | ' | ' | ' | ' | 1.36% | 0.39% | ' | ' | ||||||
Risk-free interest rate, maximum | ' | ' | ' | ' | 2.92% | ' | ' | ' | ' | 2.45% | 1.44% | ' | ' | ' | ' | 1.62% | 1.04% | ||||||
Expected life (years) | ' | '1 year 10 months 24 days | ' | '5 years 3 months 22 days | '6 years 11 months 12 days | ' | ' | '5 years 3 months 22 days | '5 years 3 months 22 days | '7 years 29 days | '7 years 29 days | '5 years | [1] | ' | ' | '3 years 3 months | ' | '6 years 3 months | |||||
Discount for post-vesting restrictions | ' | ' | 0.00% | [2] | ' | ' | 0.00% | [2] | 0.00% | [2] | ' | ' | ' | ' | ' | 0.00% | [2] | 11.50% | ' | 35.00% | [2] | ' | |
Weighted average fair value | ' | ' | ' | $3.65 | $5.04 | ' | ' | $4.23 | $4.40 | $7.53 | $5.34 | ' | ' | $1.59 | $2.64 | $5.25 | $3.94 | ||||||
[1] | The Company considered the applicable employee groups as well as the anticipated exercise behavior over the contractual term of the award in developing an estimate of the expected term of these options. | ||||||||||||||||||||||
[2] | Because options with post-vesting restrictions create a lack of marketability, the Company discounted the market price used in the Black-Scholes option-pricing model. The Company utilized the Finnerty and Forward Sale models to calculate the discount. |
StockBased_Compensation_Plan_S1
Stock-Based Compensation Plan (Schedule Of Share Based Payment Award Restricted Stock Valuation Assumptions) (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jan. 17, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number issued | ' | ' | $250 | |
Grant price | ' | ' | $7.34 | |
Dividend yield | ' | ' | 0.00% | |
Expected Volatility | ' | ' | 58.00% | [1] |
Risk-free Interest Rate | ' | ' | 2.64% | |
Expected life (years) | ' | ' | '1 year 10 months 24 days | |
Weighted average fair value | ' | ' | $6.27 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 250 | 90 | ' | |
Restricted Stock | Minimum [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Vesting period | ' | '2 years | ' | |
Expected life (years) | ' | ' | '1 year 1 month 13 days | |
Weighted average fair value | ' | ' | $5.83 | |
Restricted Stock | Maximum [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Vesting period | ' | '5 years | ' | |
Expected life (years) | ' | ' | '1 year 7 months 13 days | |
Weighted average fair value | ' | ' | $6.13 | |
[1] | Since the Companybs historical volatility was not representative of the ongoing future business, the Companybs historical volatility was based on a combination of the Companybs volatility and the historical volatility of a peer group of companies within similar industries and similar size as the Company. |
StockBased_Compensation_Plan_S2
Stock-Based Compensation Plan (Schedule Of Total Non-Cash Stock Compensation Expense Related To Stock Options And Restricted Stock) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock-Based Compensation Plan [Abstract] | ' | ' | ' |
Restricted stock | $81 | $739 | $2,462 |
Stock options | 2,904 | 1,027 | 629 |
Stock awards expense | 25 | ' | ' |
Total non-cash stock compensation expense | $3,010 | $1,766 | $3,091 |
StockBased_Compensation_Plan_S3
Stock-Based Compensation Plan (Summary Of Changes In Outstanding Awards) (Details) (USD $) | 0 Months Ended | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jan. 17, 2011 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options outstanding at December 31, 2012 | ' | 2,712 |
Options granted | ' | 628 |
Options exercised | ' | -185 |
Options forfeited | ' | -74 |
Options outstanding at December 31, 2013 | ' | 3,081 |
Options exercisable at December 31, 2013 | ' | 2,137 |
Options outstanding at December 31, 2012, weighted average exercise price | ' | $8.98 |
Options granted, weighted average exercise price | ' | $10.30 |
Options exercised, weighted average exercise price | ' | $6.43 |
Options forfeited, weighted average exercise price | ' | $8.95 |
Options outstanding at December 31, 2013, weighted average exercise price | ' | $9.33 |
Options exercisable, weighted average exercise price | ' | $8.50 |
Options outstanding at December 31, 2013, aggregate intrinsic value | ' | $12,320 |
Options exercisable, aggregate intrinsic value | ' | $10,308 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 250 | 90 |
Awards outstanding at December 31, 2013 | ' | 340 |
Restricted Stock | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Awards outstanding at December 31, 2012 | ' | 750 |
Awards exercised or vested | ' | -500 |
Awards outstanding at December 31, 2013 | ' | 340 |
StockBased_Compensation_Plan_S4
Stock-Based Compensation Plan (Schedule Of Shares Authorized Under Stock Option Plans, By Exercise Price Range) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding options | 3,081 |
Exercisable options | 2,137 |
Exercisable options, remaining life in years | '4 years 8 months 12 days |
Exercisable options, weighted average exercise price | $8.50 |
$4.00 - $10.39 Exercise Price Range [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price, lower limit | $4 |
Exercise price, upper limit | $10.39 |
Outstanding options | 2,125 |
Exercisable options | 1,652 |
Exercisable options, remaining life in years | '3 years 8 months 12 days |
Exercisable options, weighted average exercise price | $7.91 |
$10.40 - $14.71 Exercise Price Range [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price, lower limit | $10.40 |
Exercise price, upper limit | $14.71 |
Outstanding options | 956 |
Exercisable options | 485 |
Exercisable options, remaining life in years | '7 years 8 months 12 days |
Exercisable options, weighted average exercise price | $10.54 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies [Abstract] | ' | ' | ' |
Total rent expense | $2,321 | $1,944 | $1,538 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Future Minimum Lease Payments Under Noncancelable Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies [Abstract] | ' |
2014 | $2,099 |
2015 | 1,490 |
2016 | 1,082 |
2017 | 589 |
2018 | 178 |
Thereafter | 12 |
Future minimum payments due, total | $5,450 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Line Items] | ' | ' | ' | |
Change in enacted foreign statutory tax rates | ' | $1,025 | ' | |
Net change in valuation allowance | 490 | 894 | 3,000 | |
Decrease in valuation allowance for deferred income taxes | 490 | 1,300 | 3,000 | |
Increase in valuation allowance | ' | 406 | [1] | ' |
Net operating loss carryforwards for U.S. federal income tax purposes | 215,562 | ' | ' | |
Tax windfall | 5,154 | ' | ' | |
Research and experimentation credit carryforwards | 2,270 | ' | ' | |
Alternative minimum tax credit carryforwards | 315 | ' | ' | |
AMT percentage | 20.00% | ' | ' | |
Maximum percentage of income offset by available NOLs | 90.00% | ' | ' | |
Net operating loss carryforwards, net of limitations | $210,408 | ' | ' | |
Minimum [Member] | ' | ' | ' | |
Income Tax Disclosure [Line Items] | ' | ' | ' | |
Foreign statutory tax rate, foreign operations | 19.00% | ' | ' | |
Maximum [Member] | ' | ' | ' | |
Income Tax Disclosure [Line Items] | ' | ' | ' | |
Foreign statutory tax rate, foreign operations | 39.00% | ' | ' | |
[1] | Increase in valuation allowance due to the acquisition of certain deferred tax assets where the more likely than not criteria was not met. |
Income_Taxes_Components_Of_Con
Income Taxes (Components Of Consolidated Income (Losses) From Continuing Operations Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
U.S. operations | ($1,497) | $3,179 | $1,755 |
Foreign operations | -6,446 | -3,091 | 449 |
(Loss) income before income tax | ($7,943) | $88 | $2,204 |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Tax Provision (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | $24 | $10 | $206 |
State and local | 71 | -20 | 41 |
Foreign | 327 | 3 | 321 |
Current total | 422 | -7 | 568 |
Deferred: | ' | ' | ' |
Federal | -1,155 | 2,115 | 98 |
State and local | 563 | -1,067 | -132 |
Foreign | -1,413 | -1,605 | -222 |
Deferred total | -2,005 | -557 | -256 |
Decrease in valuation allowance for deferred income taxes | -490 | -1,300 | -3,000 |
Deferred tax provision (benefit), net | -2,495 | -1,857 | -3,256 |
Income tax benefit | ($2,073) | ($1,864) | ($2,688) |
Income_Taxes_Schedule_Of_Effec
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
Computed "expected" income tax expense (benefit) | -34.00% | 34.00% | 34.00% |
Foreign taxes | 10.90% | 145.10% | -2.40% |
State income taxes, net of federal income taxes | -0.10% | 126.20% | 3.50% |
Income tax credits | -7.30% | ' | ' |
Incentive stock options | 3.50% | ' | ' |
Transactions costs | ' | 682.90% | ' |
Change in effective state rate | ' | -501.40% | ' |
Change in enacted foreign statutory rates | ' | -1178.10% | ' |
Other | 0.40% | 365.40% | -21.00% |
Decrease in valuation allowance | 0.50% | -1792.30% | -136.10% |
Income tax benefit | -26.10% | -2118.20% | -122.00% |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Deferred tax assets: | ' | ' | ' | ' |
Net operating loss, capital loss amount and research & experimentation credit carryforwards | $82,820 | $82,140 | ' | ' |
Non-cash compensation | 2,304 | 2,717 | ' | ' |
Accrued liabilities | 2,100 | 1,968 | ' | ' |
Reserves and other | 3,318 | 2,740 | ' | ' |
Intangibles | 2,056 | 2,411 | ' | ' |
Deferred tax assets, gross | 92,598 | 91,976 | ' | ' |
Valuation allowance | -17,120 | -17,610 | -18,504 | -21,504 |
Net deferred tax assets | 75,478 | 74,366 | ' | ' |
Deferred tax liabilities: | ' | ' | ' | ' |
Depreciation | -1,057 | -1,219 | ' | ' |
Discount on notes | -1,967 | -2,383 | ' | ' |
Intangibles | -25,746 | -26,610 | ' | ' |
Other | -141 | -300 | ' | ' |
Deferred tax liabilities, gross | -28,911 | -30,512 | ' | ' |
Deferred tax assets, net | $46,567 | $43,854 | ' | ' |
Income_Taxes_Schedule_Of_Roll_
Income Taxes (Schedule Of Roll Forward Of Valuation Allowance For Deferred Income Tax Assets) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' | |
Valuation Allowance, Balance at beginning of period | $17,610 | $18,504 | $21,504 | |
Charged (Credited) to Costs and Expenses | -490 | -1,300 | -3,000 | |
Other Adjustments | ' | 406 | [1] | ' |
Valuation Allowance, Balance at end of period | $17,120 | $17,610 | $18,504 | |
[1] | Increase in valuation allowance due to the acquisition of certain deferred tax assets where the more likely than not criteria was not met. |
Income_Taxes_Summary_Of_Tax_Cr
Income Taxes (Summary Of Tax Credit Carryforwards) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Other Tax Carryforward [Line Items] | ' |
Total net operating loss amount | $215,562 |
Tax windfall | -5,154 |
After limitations | 210,408 |
Operating loss carryforward expiration year 2020 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 26,231 |
Operating loss carryforward expiration year 2021 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 50,430 |
Operating loss carryforward expiration year 2022 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 115,000 |
Operating loss carryforward expiration year 2023 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 5,712 |
Operating loss carryforward expiration year 2024 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 3,566 |
Operating loss carryforward expiration year 2025 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 1,707 |
Operating loss carryforward expiration year 2026 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 584 |
Operating loss carryforward expiration year 2027 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 586 |
Operating loss carryforward expiration year 2028 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 1,646 |
Operating loss carryforward expiration year 2029 | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | 4,074 |
Operating loss carryforward expiration year 2030 and beyond | ' |
Other Tax Carryforward [Line Items] | ' |
Net operating loss amount | $6,026 |
Related_Party_Transactions_Nar
Related Party Transactions - (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Feb. 22, 2012 | 28-May-10 | Dec. 31, 2012 | Dec. 31, 2013 | Feb. 15, 2012 | Dec. 31, 2013 | 29-May-12 | 28-May-10 | Dec. 31, 2013 | 29-May-12 | 28-May-10 | 28-May-10 | Dec. 31, 2013 | Jun. 24, 2013 |
Kanders GMP Holdings, LLC [Member] | Kanders GMP Holdings, LLC [Member] | Kanders GMP Holdings, LLC [Member] | Schiller Gregory Investment Company, LLC [Member] | Schiller Gregory Investment Company, LLC [Member] | Schiller Gregory Investment Company, LLC [Member] | Former Employees [Member] | Robert R. Schiller Cornerstone Trust, the Deborah Schiller 2005 Revocable Trust and the Robert R. Schiller 2013 Cornerstone Trust [Member] | Robert R. Schiller 2013 Cornerstone Trust [Member] | ||||||
Related Party Transactions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest paid on transferred subordinated note | ' | ' | ' | ' | ' | $726 | ' | ' | ' | ' | ' | ' | $377 | ' |
Interest paid on Gregory employees subordinated notes | ' | ' | ' | ' | ' | 18 | ' | ' | 10 | ' | ' | ' | ' | ' |
Common stock purchased by related party | 1,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering, common stock sold | 8,913 | ' | 62,562 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price per share | $7.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Last reported sale price, common stock | ' | ' | ' | $7.85 | $8.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
5% Unsecured Subordinated Notes | ' | ' | 15,992 | 17,154 | ' | ' | 365 | 14,517 | ' | 189 | 7,539 | 554 | ' | 3,769 |
Subordinated debt interest rate | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discounted subordinated notes | ' | ' | ' | ' | ' | ' | ' | $8,640 | ' | ' | $4,487 | $316 | ' | ' |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | Zions First National Bank [Member] | Loan Agreement [Member] | Loan Agreement [Member] | Loan Agreement [Member] | Minimum [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] |
Term Facility [Member] | Term Facility [Member] | Loan Agreement [Member] | Loan Agreement [Member] | Terminated Acquisition Facility Agreement [Member] | Amended And Restated Term Loan Promissory Note [Member] | |||
Term Facility [Member] | ||||||||
Line Of Credit Facility And Long Term Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility maximum borrowing capacity | $30,000 | $30,000 | $15,000 | ' | ' | ' | $10,000 | $10,000 |
Credit facility current borrowing capacity | ' | ' | ' | 15,000 | ' | ' | ' | ' |
Credit facility remaining borrowing capacity | ' | ' | ' | 5,000 | ' | ' | ' | ' |
Line of credit facility, amount outstanding | $10,320 | ' | ' | $10,000 | ' | ' | ' | ' |
Unused commitment fee percentage | ' | ' | ' | ' | 0.40% | 0.60% | ' | ' |
Supplementary_Data_Quarterly_F2
Supplementary Data - Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales | $60,405 | $52,776 | $38,855 | $51,000 | $48,801 | $48,742 | $31,915 | $46,419 | $203,036 | $175,877 | $145,775 |
Gross profit | 22,945 | 19,670 | 15,654 | 19,216 | 17,723 | 18,459 | 12,466 | 18,616 | 77,485 | 67,264 | 56,352 |
Operating Income (Loss) | 1,316 | -1,490 | -2,482 | -2,034 | -2,097 | 1,535 | -1,991 | 4,729 | -4,690 | 2,176 | 4,866 |
Net income (loss) | 736 | -1,306 | -2,268 | -3,032 | 544 | 726 | -1,908 | 2,590 | -5,870 | 1,952 | 4,892 |
Earnings (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings (loss) per share | $0.02 | ($0.04) | ($0.07) | ($0.10) | $0.02 | $0.02 | ($0.06) | $0.10 | ($0.18) | $0.07 | $0.22 |
Diluted earnings (loss) per share | $0.02 | ($0.04) | ($0.07) | ($0.10) | $0.02 | $0.02 | ($0.06) | $0.10 | ($0.18) | $0.06 | $0.22 |
Inventory recall expense | ' | 1,541 | ' | ' | ' | ' | ' | ' | 1,541 | ' | ' |
Absent The Recall [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | $235 | ' | ' | ' | ' | ' | ' | ' | ' | ' |