Ascent Industries (ACNT) 10-Q 12 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 03, 2015	Nov. 06, 2015
Document Information [Line Items]
Entity Registrant Name	Synalloy Corporation
Entity Central Index Key	95,953
Current Fiscal Year End Date	--01-02
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		8,718,554
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 3, 2015

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Oct. 03, 2015	Jan. 03, 2015
Current assets
Cash and cash equivalents	$ 209,430	$ 26,623
of $206,042 and $1,114,814, respectively	21,987,894	29,229,927
Inventories, net	67,963,222	67,674,670
Deferred income taxes	2,689,655	2,921,654
Prepaid expenses and other current assets	5,178,995	5,460,344
Total current assets	98,029,196	105,313,218
Cash value of life insurance	1,524,360	2,046,512
Property, plant and equipment, net of accumulated depreciation of $49,379,609 and $46,036,102, respectively	43,348,323	39,937,466
Goodwill	18,512,979	23,250,201
Intangible Assets, Net (Excluding Goodwill)	15,309,750	17,001,525
Deferred charges, net and other non-current assets	443,238	300,308
Total assets	177,167,846	187,849,230
Current liabilities
Accounts payable	11,072,264	21,388,298
Accrued expenses	8,339,199	14,684,686
Current portion of long-term debt	4,533,908	4,533,908
Other current liabilities	159,058	126,000
Total current liabilities	24,104,429	40,732,892
Long-term debt	27,758,896	27,255,442
Long-term contingent consideration	0	2,596,516
Deferred income taxes	7,323,486	6,438,146
Long-term pension liability from the closure of Bristol Fab	0	713,181
Other long-term liabilities	661,000	659,500
Shareholders' equity
Common stock, par value $1 per share - authorized 12,000,000 shares; issued 10,300,000 shares	10,300,000	10,300,000
Capital in excess of par value	34,455,003	34,054,374
Retained earnings	86,615,537	79,167,323
Shareholders' equity before treasury stock	131,370,540	123,521,697
Less cost of common stock in treasury: 1,587,662 and 1,589,698 shares, respectively	14,050,505	14,068,144
Total shareholders' equity	$ 117,320,035	$ 109,453,553
Commitments and contingencies – See Note 11
Total liabilities and shareholders' equity	$ 177,167,846	$ 187,849,230

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Oct. 03, 2015	Jan. 03, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 206,042	$ 1,114,814
Assets
Accumulated depreciation	$ 49,379,609	$ 46,036,102
Shareholders' equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	12,000,000	12,000,000
Common stock, shares issued (in shares)	10,300,000	10,300,000
Common stock in treasury, at cost (in shares)	1,587,662	1,589,698

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014
Net sales	$ 38,083,284	$ 48,451,944	$ 139,894,977	$ 150,935,909
Cost of sales	33,546,114	40,131,353	118,000,119	125,565,826
Gross profit	4,537,170	8,320,591	21,894,858	25,370,083
Selling, general and administrative expense	5,242,055	3,613,857	16,375,583	12,108,703
Acquisition related costs	9,154	210	454,200	(2,936)
Business interruption insurance proceeds	(576,658)	0	(1,056,775)	0
Operating (loss) income	(137,381)	4,706,524	6,121,850	13,264,316
Other (income) and expense
Interest expense	320,415	261,168	977,063	788,854
Change in fair value of interest rate swap	247,152	(102,972)	233,235	191,527
Specialty and Palmer earn-out adjustments	(2,414,115)	0	(4,897,448)	(3,476,197)
Other, net	(23)	(150)	(137,214)	(6,796)
Income from continuing operations before income taxes	1,709,190	4,548,478	9,946,214	15,766,928
Provision for income taxes	354,000	1,371,000	2,498,000	4,557,000
Net income from continuing operations	1,355,190	3,177,478	7,448,214	11,209,928
Loss from discontinued operations, net of tax	0	(1,898,988)	0	(7,754,872)
Net income	$ 1,355,190	$ 1,278,490	$ 7,448,214	$ 3,455,056
Net income per common share from continuing operations:
Basic	$ 0.16	$ 0.36	$ 0.85	$ 1.29
Diluted	0.16	0.36	0.85	1.29
Net loss per common share from discontinued operations:
Basic	0	(0.22)	0	(0.89)
Diluted	0	(0.22)	0	(0.89)
Earnings Per Share, Basic	0.16	0.14	0.85	0.40
Earnings Per Share, Diluted	$ 0.16	$ 0.14	$ 0.85	$ 0.40
Weighted average shares outstanding:
Basic (shares)	8,721,833	8,707,063	8,719,612	8,699,428
Dilutive effect from stock options and grants (shares)	0	38,776	6,559	15,782
Diluted (shares)	8,721,833	8,745,839	8,726,171	8,715,210

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014
Operating activities
Net income	$ 7,448,214	$ 3,455,056
Loss from discontinued operations, net of tax	0	(7,754,872)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	3,514,073	2,816,742
Amortization expense	1,771,265	1,027,105
Deferred income taxes	1,117,339	(631,624)
Specialty and Palmer earn-out adjustments	(4,897,448)	(3,476,197)
(Reduction of) provision for losses on accounts receivable	(99,333)	593,042
Provision for losses on inventory	1,632,000	3,828,122
Gain on sale of property, plant and equipment	(10,000)	(8,000)
Cash value of life insurance	64,000	(72,000)
Change in fair value of interest rate swap	233,235	191,527
Environmental reserves	33,058	26,496
Issuance of treasury stock for director fees	118,762	110,501
Employee stock option and grant compensation	403,418	252,488
Changes in operating assets and liabilities:
Accounts receivable	7,341,366	(294,896)
Inventories	397,635	(476,615)
Other assets and liabilities, net	(881,765)	305,948
Accounts payable	(10,316,034)	2,656,999
Accrued expenses	(1,987,528)	4,036,683
Accrued income taxes	739,590	(469,849)
Net Cash Provided by Continuing Operating Activities	6,621,847	21,626,400
Net cash provided by (used in) discontinued operating activities	(633,880)	189,471
Net cash provided by operating activities	5,987,967	21,815,871
Investing activities
Purchases of property, plant and equipment	(7,439,218)	(4,562,734)
Proceeds from sale of property, plant and equipment	12,000	8,000
Proceeds from casualty insurance	512,287	0
Proceeds from life insurance	720,518	0
Net Cash Used in Investing Activities of Continuing Operations	(6,194,413)	(4,554,734)
Net cash used in discontinued investing activities	0	3,586,044
Net cash used in investing activities	(6,194,413)	(968,690)
Financing activities
Net borrowings from line of credit	4,070,548	0
Payments of Long-term Debt	(3,567,094)	(1,900,428)
Proceeds from exercised stock options	8,302	27,026
Purchases of treasury stock	(122,503)	0
Net cash provided by (used in) financing activities	389,253	(1,873,402)
Increase in cash and cash equivalents	182,807	18,973,779
Cash and cash equivalents at beginning of period	26,623	1,773,743
Cash and cash equivalents at end of period	209,430	20,747,522
Interest Paid	938,855	719,287
Income Taxes Paid	$ 2,197,809	$ 2,112,877

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Oct. 03, 2015
Basis of Presentation [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included as required by Regulation S-X, Rule 10-01. Operating results for the three and nine-month periods ended October 3, 2015 , are not necessarily indicative of the results that may be expected for the year ending January 2, 2016 . For further information, refer to the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended January 3, 2015 . On August 29, 2014 the Company completed the sale of all of the issued and outstanding membership interests of its wholly owned subsidiary, Ram-Fab, LLC ("Ram-Fab"), to a subsidiary of Primoris Services Corporation. On June 27, 2014, the Company completed the planned closure of the Bristol Fabrication unit of Synalloy Fabrication, LLC ("Bristol Fab"). See Note 12, Discontinued Operations, for further information regarding the sale of Ram-Fab and the closure of Bristol Fab. The Company's financial results for its sold Ram-Fab and closed Bristol Fab businesses have been presented as discontinued operations for the prior year periods presented in the accompanying condensed consolidated financial statements included in this Form 10-Q. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation in the accompanying condensed consolidated financial statements. These reclassifications had no material effect on previously reported results of operations or shareholders' equity.

RECENTLY ADOPTED ACCOUNTING STA

RECENTLY ADOPTED ACCOUNTING STANDARDS	9 Months Ended
	Oct. 03, 2015
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	RECENTLY ADOPTED ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)" , which changes the criteria for recognizing revenue. The standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard requires a five-step process for recognizing revenue including identifying the contract with the customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract, and recognizing revenue when (or as) the entity satisfies a performance obligation. Two transition methods are available for implementing the requirements of ASU 2014-09: retrospectively for each prior reporting period presented or retrospectively with the cumulative effect of initial application recognized at the date of initial application. In August 2015, the FASB issued ASU No. 2015-14, " Revenue from Contract with Customers (Topic 606) ," which defers the required implementation date of ASU 2014-09 for public business entities from annual reporting periods beginning after December 15, 2016, to annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact that ASU 2014-09 will have on its consolidated financial statements and has not determined which transition method will be used. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" , which modifies the consolidation model for reporting organizations under both the variable interest model and the voting interest model. The ASU is generally expected to reduce the number of situations where consolidation is required; however, in certain circumstances, the ASU may result in companies consolidating entities previously unconsolidated. The ASU will require all legal entities to re-evaluate previous consolidation conclusions under the revised model and is effective for periods beginning after December 15, 2015. The Company did not elect to early adopt the provisions of this ASU and does not believe its implementation will have any effect on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs," which changes the presentation of debt issuance costs. This ASU requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Currently, capitalized debt issuance costs are presented as an asset on the consolidated balance sheet. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. The Company did not elect to early adopt the provisions of this ASU and does not believe its implementation will have a material effect on the Company's consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, " Inventory (Topic 330): Simplifying the Measurement of Inventory ," which reduces the cost and complexity of accounting for inventory. This ASU requires an entity measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. ASU 2015-11 is effective for fiscal periods beginning after December 15, 2016. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact that ASU 2015-11 will have on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, " Business Combinations (Topic 805): Simplifying the Measurement-Period Adjustments ," which requires an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. This ASU requires the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts calculated as if the accounting had been completed at the acquisition date. The amendments in this ASU also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015 and the Company does not believe the implementation of this ASU will have a material effect on the Company's consolidated financial statements.

INVENTORIES

INVENTORIES	9 Months Ended
	Oct. 03, 2015
Inventory Disclosure [Abstract]
Inventories	INVENTORIES, NET Inventories are stated at the lower of cost (first-in, first-out method) or market. The components of inventories, net, are as follows: Oct 3, 2015 Jan 3, 2015 Raw materials $ 38,697,581 $ 38,405,587 Work-in-process 6,241,670 7,128,602 Finished goods 23,023,971 22,140,481 $ 67,963,222 $ 67,674,670

STOCK OPTIONS AND EMPLOYEE STOC

STOCK OPTIONS AND EMPLOYEE STOCK GRANTS	9 Months Ended
	Oct. 03, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Employee Stock Grants	STOCK OPTIONS AND RESTRICTED STOCK During the first nine months of 2015, stock options for 666 shares of common stock were exercised by officers and employees for an aggregate exercise price of $8,302 . Stock compensation expense for the three and nine-month periods ended October 3, 2015 was approximately $130,000 and $403,000 , respectively, while stock compensation expense for the three and nine-month periods ended September 27, 2014 was approximately $88,000 and $252,000 , respectively. On February 10, 2015 , the Compensation & Long-Term Incentive Committee of the Board of Directors of the Company approved stock option grants under the Company's 2011 Long-Term Incentive Stock Option Plan (the "2011 Plan"). Options for a total of 32,531 shares, with an exercise price of $16.01 , were granted under the 2011 Plan to certain management employees of the Company. The exercise price was determined using the average of the high and low stock price on the day prior to the grant date. The per share weighted-average fair value of the stock options granted on February 10, 2015 was $6.39 . The fair value of the option grants was estimated using the Black-Scholes option-pricing model based on a risk-free interest rate of two percent , an expected volatility of 46 percent , an expected life of seven years and a dividend yield of two percent . The stock options vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant. In order for the options to vest, the employee must be in the continuous employment of the Company since the date of the grant. Any portion of the grant that has not vested will be forfeited upon termination of employment. The Company may terminate any portion of the grant that has not vested upon an employee's failure to comply with all conditions of the award or the 2011 Plan. On May 12, 2015 , the Company issued to its non-employee directors an aggregate of 8,216 shares of its common stock in lieu of a total of approximately $119,000 of their annual cash retainer fees. The directors were given the option of receiving shares of common stock for all or any part of their annual retainer fee.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Oct. 03, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The Company is no longer subject to U.S. federal examinations for years before 2014 or state income tax examinations for years before 2011. The Company completed its 2012 and 2013 federal income tax return examination by the Internal Revenue Service during the second quarter of 2015. The effective tax rates of 21 percent and 25 percent for the three and nine-month periods ended October 3, 2015, respectively, was lower than the statutory rate of 34 percent primarily due to non-taxable gains associated with an earn-out adjustment made during 2015 combined with life insurance proceeds received in excess of cash surrender value for a former officer of the Company and the benefits of the domestic production activities reduction. The effective tax rates of 30 percent and 29 percent for the three and nine-month periods ended September 27, 2014, respectively, was lower than the 34 percent statutory rate primarily due to a non-taxable earn-out adjustment made in 2014. As of January 3, 2015, the Company had recorded $1,504,000 of unrecognized tax benefits. A portion of this reserve was reversed during the second quarter of 2015, as the Company settled its examination with the Internal Revenue Service. The remaining unrecognized tax benefit liability was reversed during the third quarter of 2015 as the Company filed its US Federal income tax return, which included filings for method of accounting changes related to these unrecognized tax benefit items. The Company's continuing practice is to recognize interest and/or penalties related to income tax matters in the provision for income tax.

PAYMENT OF DIVIDENDS

PAYMENT OF DIVIDENDS	9 Months Ended
	Oct. 03, 2015
Payments of Dividends [Abstract]
Payment of Dividends	PAYMENT OF DIVIDENDS During 2014, the Company declared and paid a $0.30 per share dividend on December 9, 2014 for a total of $2,633,000 . The Company's Board of Directors presently plans to review at the end of each fiscal year the financial performance and capital needed to support future growth to determine the amount of cash dividend, if any, which is appropriate.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Oct. 03, 2015
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The operating results of the former Bristol Fab and Ram-Fab units have been classified as discontinued operations and are not included in the operating results presented below. See Note 12, Discontinued Operations, for further information regarding the closure and sale of the related divisions. The following table summarizes certain information regarding segments of the Company's continuing operations: Three Months Ended Nine Months Ended Oct 3, 2015 Sep 27, 2014 Oct 3, 2015 Sep 27, 2014 Net sales Metals Segment $ 23,084,000 $ 32,899,000 $ 92,488,000 $ 102,091,000 Specialty Chemicals Segment 14,999,000 15,553,000 47,407,000 48,845,000 $ 38,083,000 $ 48,452,000 $ 139,895,000 $ 150,936,000 Operating (loss) income Metals Segment $ (548,000 ) $ 3,840,000 $ 5,400,000 $ 11,000,000 Specialty Chemicals Segment 1,598,000 1,416,000 4,624,000 4,772,000 1,050,000 5,256,000 10,024,000 15,772,000 Unallocated expenses Corporate 1,179,000 549,000 3,448,000 2,510,000 Acquisition related costs 9,000 — 454,000 (3,000 ) Interest expense 320,000 261,000 977,000 789,000 Change in fair value of interest rate swap 247,000 (103,000 ) 233,000 192,000 Palmer & Specialty earn-out adjustments (2,414,000 ) — (4,897,000 ) (3,476,000 ) Other income — — (137,000 ) (7,000 ) Income from continuing operations before income taxes $ 1,709,000 $ 4,549,000 $ 9,946,000 $ 15,767,000 Oct 3, 2015 Jan 3, 2015 Identifiable assets Metals Segment $ 135,196,000 $ 145,558,000 Specialty Chemicals Segment 33,792,000 32,504,000 Corporate 8,180,000 9,787,000 $ 177,168,000 $ 187,849,000

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Oct. 03, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company makes estimates of fair value in accounting for certain transactions, in testing and measuring impairment, and in providing disclosures of fair value in its condensed consolidated financial instruments. The Company determines the fair values of its financial instruments for disclosure purposes by maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Fair value disclosures for assets and liabilities are grouped in three levels. The levels prioritize the inputs used to measure the fair value of the assets or liabilities. These levels are: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 - Inputs other than quoted prices that are observable for assets and liabilities, either directly or indirectly. These inputs include quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are less active. Level 3 - Unobservable inputs that are supported by little or no market activity for assets or liabilities and includes certain pricing models, discounted cash flow methodologies and similar techniques. Estimates of fair value using levels 2 and 3 may require judgments as to the timing and amount of cash flows, discount rates, and other factors requiring significant judgment, and the outcomes may vary widely depending on the selection of these assumptions. The Company's most significant fair value estimates as of October 3, 2015 and January 3, 2015 related to the Specialty Pipe & Tube, Inc. ("Specialty") acquisition, as described further in Note 9, the contingent consideration for Specialty and Palmer of Texas Tanks, Inc. ("Palmer"), testing goodwill for impairment, the interest rate swap and disclosures of the fair values of financial instruments. As of October 3, 2015 and January 3, 2015, the carrying amounts for cash and cash equivalents, cash value of life insurance, accounts receivable, accounts payable and borrowings under the Company's bank debt, which are based on variable interest rates, approximate their fair value. The Company has two Level 2 financial assets and liabilities. These are classified as Level 2 as they are not actively traded and are valued using pricing models that use observable market inputs. The fair value of the interest rate swap contract entered into on August 21, 2012 was a liability of $185,000 and an asset of $11,000 at October 3, 2015 and January 3, 2015 , respectively. The interest rate swap was priced using discounted cash flow techniques which are corroborated by using non-binding market prices. Changes in its fair value were recorded in long-term assets or liabilities, as appropriate, with corresponding offsetting entries to other income (expense). Significant inputs to the discounted cash flow model include projected future cash flows based on projected one-month LIBOR and the average margin for companies with similar credit ratings and similar maturities. The fair value of this interest rate swap contract approximates its carrying value. The fair value of the interest rate swap contract entered into on September 3, 2013 was a liability of $253,000 and $215,000 at October 3, 2015 and January 3, 2015 , respectively. The interest rate swap was priced using discounted cash flow techniques which are corroborated by using non-binding market prices. Changes in its fair value were recorded in long-term assets or liabilities, as appropriate, with corresponding offsetting entries to other income (expense). Significant inputs to the discounted cash flow model include projected future cash flows based on projected one-month LIBOR and the average margin for companies with similar credit ratings and similar maturities. The fair value of this interest rate swap contract approximates its carrying value. The fair value of contingent consideration liabilities ("earn-out") are classified as Level 3. The fair value of the remaining earn-out liability to the former shareholders of Palmer was reduced to zero at April 4, 2015. Accordingly, the Company adjusted the earn-out liability and recognized a gain of approximately $2,483,000 during the first quarter of 2015. During the second quarter 2015, the Company adjusted the earn-out liability to the former owner of Specialty by approximately $2,419,000 . All information obtained as of the acquisition date indicated the projected first year sales of $28,800,000, which was used for the earn-out liability calculation, was obtainable and reasonable. However, the purchase price accounting was preliminary due to a significant estimate that was under continual evaluation related to the variability in the forecasted results because of the heavy dependence on the energy sector by Specialty's Houston location. As a result of continued evaluation by the Company, the estimate was revised and goodwill was adjusted according to the final estimate. During the third quarter 2015, the Company completed its revenue projections during its 2016 planning processes. As a result, the Company determined the fair value of contingent consideration liability was zero and reduced the remaining earn-out liability by recognizing a gain of approximately $2,414,000 during the third quarter 2015. The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for the nine-month period ended October 3, 2015 : Level 3 Liabilities Balance at January 3, 2015 $ 7,256,387 Interest expense charged during 2015 60,096 Reduction due to the finalization of Specialty's beginning balance sheet (2,419,035 ) Change in fair value of Specialty's contingent consideration liability (2,414,115 ) Change in fair value of Palmer's contingent consideration liability (2,483,333 ) Balance at October 3, 2015 $ — There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 in the nine-month period ended October 3, 2015 or year ended January 3, 2015 . During the first nine months of 2015, there have been no changes in the fair value methodologies used by the Company.

ACQUISITION

ACQUISITION	9 Months Ended
	Oct. 03, 2015
Business Combinations [Abstract]
Acquisition	ACQUISITIONS Acquisition of Specialty On November 21, 2014, the Company entered into a stock purchase agreement with The Davidson Corporation ("Davidson") to purchase all of the issued and outstanding stock of Specialty. Specialty is a master distributor of seamless carbon pipe and tube, with a focus on heavy wall, large diameter products. The Company viewed the Specialty acquisition as an excellent complement to the product offerings of the Metals Segment with similar end markets and consistent profit margins. Specialty's results of operations since the acquisition date are reflected in the Company's condensed consolidated statements of operations. During the second quarter of 2015, the Company finalized the purchase price allocation for the Specialty acquisition. Additional information was obtained surrounding the proper lifespan of Specialty's steel pipe. As a result, the Company changed its estimate for valuing inventory and the fair value of inventory increased and goodwill decreased by approximately $2,318,000 Also in the second quarter, as described in Note 8, the opening balance for the earn-out liability and goodwill were adjusted by $2,419,000 . These adjustments caused goodwill related to the Specialty acquisition to decrease from $5,994,000 to $1,257,000 . During the third quarter 2015 and as a result of continued low oil prices, the Company determined the fair value of contingent consideration was zero and reduced the remaining earn-out liability by recognizing a gain of approximately $2,414,000. The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on December 29, 2013: Three months ended Nine months ended Sep 27, 2014 Sep 27, 2014 Pro-forma revenues from continuing operations $ 56,683,000 $ 175,221,000 Pro-forma net income from continuing operations 4,320,000 14,077,000

FINANCING ARRANGEMENT FINANCING

FINANCING ARRANGEMENT FINANCING ARRANGEMENT	9 Months Ended
	Oct. 03, 2015
Debt Disclosure [Abstract]
Long-term Debt	FINANCING ARRANGEMENT In connection with the acquisition of Specialty, discussed in Note 9, on November 21, 2014, the Company modified its Credit Agreement with its current bank to provide for a five -year term loan, expiring November 21, 2019, in the amount of $10,000,000 that requires equal monthly payments of $166,667 , plus interest, calculated using the One Month LIBOR (as defined in the Credit Agreement), plus a pre-defined spread, based on the Company's Total Funded Debt to EBITDA ratio (as defined in the Credit Agreement). In conjunction with the Specialty acquisition, the Amended Credit Agreement also increased the limit of the revolving line of credit by $15,000,000 to a maximum of $40,000,000 , and extended the maturity date to November 21, 2017 .

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Oct. 03, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES The Company is from time-to-time subject to various claims, possible legal actions for product liability and other damages, and other matters arising out of the normal conduct of the Company's business. Management is not currently aware of any asserted or unasserted matters which could have a material effect on the financial condition or results of operations of the Company.

DISCONTINUED OPERATION (Notes)

DISCONTINUED OPERATION (Notes)	9 Months Ended
	Oct. 03, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	DISCONTINUED OPERATIONS On June 27, 2014, the Company completed the planned closure of Bristol Fab, and on August 29, 2014, the Company completed the sale of all of the issued and outstanding membership interests of Ram-Fab to a subsidiary of Primoris Services Corporation. All non-recurring costs associated with these dispositions have been included as discontinued operations in the consolidated financial statements. The Company's results from discontinued operations are summarized below. These operating results for the three and nine month periods ended September 27, 2014 do not necessarily reflect what they would have been had Bristol Fab and Ram-Fab not been classified as discontinued operations. Three months ended Nine months ended Sep 27, 2014 Sep 27, 2014 Net sales $ 3,252,000 $ 21,963,000 Loss before income taxes $ (2,862,000 ) $ (11,299,000 ) Benefit from income taxes (963,000 ) (3,544,000 ) Net loss from discontinued operations $ (1,899,000 ) $ (7,755,000 ) No assets or liabilities were held for sale at October 3, 2015 or January 3, 2015.

BUSINESS INTERRUPTION INSURANCE

BUSINESS INTERRUPTION INSURANCE (Notes)	9 Months Ended
	Oct. 03, 2015
Extraordinary and Unusual Items [Abstract]
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block]	BUSINESS INTERRUPTION INSURANCE On April 30, 2015, the Company's fiberglass tank fabrication facility at the Palmer complex in Andrews, Texas suffered fire damage including minor structural damage as well as damage to the electrical system and overhead cranes. The Company has completed repairs to the facility and the losses are fully insured including business interruption coverage. Total business interruption insurance recoveries recognized during the three and nine-month periods ended October 3, 2015 were approximately $577,000 and $1,057,000 , respectively, and are shown separately in operating income on the accompanying condensed consolidated statements of operations.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Oct. 03, 2015
Basis of Presentation [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included as required by Regulation S-X, Rule 10-01. Operating results for the three and nine-month periods ended October 3, 2015 , are not necessarily indicative of the results that may be expected for the year ending January 2, 2016 . For further information, refer to the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended January 3, 2015 . On August 29, 2014 the Company completed the sale of all of the issued and outstanding membership interests of its wholly owned subsidiary, Ram-Fab, LLC ("Ram-Fab"), to a subsidiary of Primoris Services Corporation. On June 27, 2014, the Company completed the planned closure of the Bristol Fabrication unit of Synalloy Fabrication, LLC ("Bristol Fab"). See Note 12, Discontinued Operations, for further information regarding the sale of Ram-Fab and the closure of Bristol Fab. The Company's financial results for its sold Ram-Fab and closed Bristol Fab businesses have been presented as discontinued operations for the prior year periods presented in the accompanying condensed consolidated financial statements included in this Form 10-Q.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation in the accompanying condensed consolidated financial statements. These reclassifications had no material effect on previously reported results of operations or shareholders' equity.
Recently Adopted Accounting Standards	RECENTLY ADOPTED ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)" , which changes the criteria for recognizing revenue. The standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard requires a five-step process for recognizing revenue including identifying the contract with the customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract, and recognizing revenue when (or as) the entity satisfies a performance obligation. Two transition methods are available for implementing the requirements of ASU 2014-09: retrospectively for each prior reporting period presented or retrospectively with the cumulative effect of initial application recognized at the date of initial application. In August 2015, the FASB issued ASU No. 2015-14, " Revenue from Contract with Customers (Topic 606) ," which defers the required implementation date of ASU 2014-09 for public business entities from annual reporting periods beginning after December 15, 2016, to annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact that ASU 2014-09 will have on its consolidated financial statements and has not determined which transition method will be used. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" , which modifies the consolidation model for reporting organizations under both the variable interest model and the voting interest model. The ASU is generally expected to reduce the number of situations where consolidation is required; however, in certain circumstances, the ASU may result in companies consolidating entities previously unconsolidated. The ASU will require all legal entities to re-evaluate previous consolidation conclusions under the revised model and is effective for periods beginning after December 15, 2015. The Company did not elect to early adopt the provisions of this ASU and does not believe its implementation will have any effect on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs," which changes the presentation of debt issuance costs. This ASU requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Currently, capitalized debt issuance costs are presented as an asset on the consolidated balance sheet. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. The Company did not elect to early adopt the provisions of this ASU and does not believe its implementation will have a material effect on the Company's consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, " Inventory (Topic 330): Simplifying the Measurement of Inventory ," which reduces the cost and complexity of accounting for inventory. This ASU requires an entity measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. ASU 2015-11 is effective for fiscal periods beginning after December 15, 2016. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact that ASU 2015-11 will have on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, " Business Combinations (Topic 805): Simplifying the Measurement-Period Adjustments ," which requires an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. This ASU requires the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts calculated as if the accounting had been completed at the acquisition date. The amendments in this ASU also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015 and the Company does not believe the implementation of this ASU will have a material effect on the Company's consolidated financial statements.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Oct. 03, 2015
Inventory Disclosure [Abstract]
Schedule of components of inventories	Inventories are stated at the lower of cost (first-in, first-out method) or market. The components of inventories, net, are as follows: Oct 3, 2015 Jan 3, 2015 Raw materials $ 38,697,581 $ 38,405,587 Work-in-process 6,241,670 7,128,602 Finished goods 23,023,971 22,140,481 $ 67,963,222 $ 67,674,670

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Oct. 03, 2015
Segment Reporting [Abstract]
Segment Information	Three Months Ended Nine Months Ended Oct 3, 2015 Sep 27, 2014 Oct 3, 2015 Sep 27, 2014 Net sales Metals Segment $ 23,084,000 $ 32,899,000 $ 92,488,000 $ 102,091,000 Specialty Chemicals Segment 14,999,000 15,553,000 47,407,000 48,845,000 $ 38,083,000 $ 48,452,000 $ 139,895,000 $ 150,936,000 Operating (loss) income Metals Segment $ (548,000 ) $ 3,840,000 $ 5,400,000 $ 11,000,000 Specialty Chemicals Segment 1,598,000 1,416,000 4,624,000 4,772,000 1,050,000 5,256,000 10,024,000 15,772,000 Unallocated expenses Corporate 1,179,000 549,000 3,448,000 2,510,000 Acquisition related costs 9,000 — 454,000 (3,000 ) Interest expense 320,000 261,000 977,000 789,000 Change in fair value of interest rate swap 247,000 (103,000 ) 233,000 192,000 Palmer & Specialty earn-out adjustments (2,414,000 ) — (4,897,000 ) (3,476,000 ) Other income — — (137,000 ) (7,000 ) Income from continuing operations before income taxes $ 1,709,000 $ 4,549,000 $ 9,946,000 $ 15,767,000 Oct 3, 2015 Jan 3, 2015 Identifiable assets Metals Segment $ 135,196,000 $ 145,558,000 Specialty Chemicals Segment 33,792,000 32,504,000 Corporate 8,180,000 9,787,000 $ 177,168,000 $ 187,849,000

FAIR VALUE OF FINANCIAL INSTR22

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Oct. 03, 2015
Fair Value Disclosures [Abstract]
Summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis	The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for the nine-month period ended October 3, 2015 : Level 3 Liabilities Balance at January 3, 2015 $ 7,256,387 Interest expense charged during 2015 60,096 Reduction due to the finalization of Specialty's beginning balance sheet (2,419,035 ) Change in fair value of Specialty's contingent consideration liability (2,414,115 ) Change in fair value of Palmer's contingent consideration liability (2,483,333 ) Balance at October 3, 2015 $ —

ACQUISITION Pro-forma informati

ACQUISITION Pro-forma information (Tables)	9 Months Ended
	Oct. 03, 2015
Specialty Pipe And Tube, Inc. [Member]
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]	The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on December 29, 2013: Three months ended Nine months ended Sep 27, 2014 Sep 27, 2014 Pro-forma revenues from continuing operations $ 56,683,000 $ 175,221,000 Pro-forma net income from continuing operations 4,320,000 14,077,000

DISCONTINUED OPERATION (Tables)

DISCONTINUED OPERATION (Tables)	9 Months Ended
	Oct. 03, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Three months ended Nine months ended Sep 27, 2014 Sep 27, 2014 Net sales $ 3,252,000 $ 21,963,000 Loss before income taxes $ (2,862,000 ) $ (11,299,000 ) Benefit from income taxes (963,000 ) (3,544,000 ) Net loss from discontinued operations $ (1,899,000 ) $ (7,755,000 )

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Oct. 03, 2015	Jan. 03, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 38,697,581	$ 38,405,587
Work-in-process	6,241,670	7,128,602
Finished goods	23,023,971	22,140,481
Inventories, net	$ 67,963,222	$ 67,674,670

STOCK OPTIONS AND EMPLOYEE ST26

STOCK OPTIONS AND EMPLOYEE STOCK GRANTS (Details) - USD ($)	May. 12, 2015	Feb. 10, 2015	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercised stock options					$ 8,302	$ 27,026
Allocated Share-based Compensation Expense			$ 130,000	$ 88,000	$ 403,000	$ 252,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised (shares)					666
Options exercised, aggregate exercise price					$ 8,302
2011 Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)		32,531
Options granted, weighted average exercise price (dollars per share)		$ 16.01
Options granted, weighted average fair value (dollars per share)		$ 6.39
Risk free interest rate (percent)		2.00%
Expected volatility rate (percent)		46.00%
Expected life (years)		7 years
Expected dividend yield (percent)		2.00%
Annual vesting rate (percent)					20.00%
Period after option grant before options can be exercised (years)					1 year
Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock issued to each nonemployee director (shares)	8,216
Annual cash retainer fees	$ 119,000

INCOME TAXES Income Taxes (Deta

INCOME TAXES Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014	Jan. 03, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	21.00%	30.00%	25.00%	29.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			34.00%
Liability for Uncertain Tax Positions, Noncurrent					$ 1,504

PAYMENT OF DIVIDENDS (Details)

PAYMENT OF DIVIDENDS (Details) $ / shares in Units, $ in Thousands	Dec. 09, 2014USD ($)$ / shares
Payments of Dividends [Abstract]
Dividends paid (in dollars per share)	$ 0.30
Dividend payment dates	Dec. 9, 2014
Total outlay for dividends | $	$ 2,633

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014	Jan. 03, 2015
Segment Reporting Information [Line Items]
Net sales	$ 38,083,284	$ 48,451,944	$ 139,894,977	$ 150,935,909
Operating (loss) income	1,050,000	5,256,000	10,024,000	15,772,000
Acquisition related costs	9,154	210	454,200	(2,936)
Business interruption insurance proceeds	576,658	0	1,056,775	0
Change in fair value of interest rate swap	247,152	(102,972)	233,235	191,527
Specialty and Palmer earn-out adjustments	(2,414,115)	0	(4,897,448)	(3,476,197)
Income from continuing operations before income taxes	1,709,190	4,548,478	9,946,214	15,766,928
Assets	177,167,846		177,167,846		$ 187,849,230
Metals Segment [Member]
Segment Reporting Information [Line Items]
Net sales	23,084,000	32,899,000	92,488,000	102,091,000
Operating (loss) income	(548,000)	3,840,000	5,400,000	11,000,000
Assets	135,196,000		135,196,000		145,558,000
Specialty Chemicals Segment [Member]
Segment Reporting Information [Line Items]
Net sales	14,999,000	15,553,000	47,407,000	48,845,000
Operating (loss) income	1,598,000	1,416,000	4,624,000	4,772,000
Assets	33,792,000		33,792,000		32,504,000
Corporate [Member]
Segment Reporting Information [Line Items]
Corporate	1,179,000	549,000	3,448,000	2,510,000
Acquisition related costs	9,000	0	454,000	(3,000)
Interest and debt expense	320,000	261,000	977,000	789,000
Change in fair value of interest rate swap	247,000	(103,000)	233,000	192,000
Specialty and Palmer earn-out adjustments	(2,414,000)	0	(4,897,000)	(3,476,000)
Other Income	0	0	137,000	7,000
Income from continuing operations before income taxes	1,709,000	4,549,000	9,946,000	15,767,000
Assets	8,180,000		8,180,000		$ 9,787,000
Operating Segment [Member]
Segment Reporting Information [Line Items]
Net sales	$ 38,083,000	$ 48,452,000	$ 139,895,000	$ 150,936,000

FAIR VALUE OF FINANCIAL INSTR30

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Apr. 04, 2015	Oct. 03, 2015	Jan. 03, 2015
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Variable rate basis on interest rate swap			LIBOR
Palmer of Texas [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of contingent consideration liability		$ 2,483,000	$ (2,483,333)
Specialty Pipe And Tube, Inc. [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of contingent consideration liability	$ 2,414,115	$ 2,419,000	(2,419,035)
Term Loan [Member] | Palmer of Texas [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swap, asset				$ 11,000
Term Loan [Member] | Palmer of Texas [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swap, liability	185,000		185,000
Term Loan [Member] | Color Resources, LLC [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swap, liability	$ 253,000		$ 253,000	$ 215,000

FAIR VALUE OF FINANCIAL INSTR31

FAIR VALUE OF FINANCIAL INSTRUMENTS (Level 3 Liabilities Rollforward) (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($)	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Apr. 04, 2015	Oct. 03, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 7,256,387	$ 7,256,387
Interest expense charged during the year			60,096
Ending balance	$ 0		0
Specialty Pipe And Tube, Inc. [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value of contingent consideration liability	$ (2,414,115)	$ (2,419,000)	$ 2,419,035

ACQUISITION (Narrative) (Detail

ACQUISITION (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 04, 2015	Jul. 04, 2015	Oct. 03, 2015	Jan. 03, 2015
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory	$ 2,318,000
Purchase accounting adjustments increase (decrease) in goodwill	(2,318,000)	$ (2,419,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities		2,419,000
Goodwill			$ 18,512,979	$ 23,250,201
Specialty Pipe And Tube, Inc. [Member]
Business Acquisition [Line Items]
Goodwill	$ 1,257,000	$ 1,257,000		$ 5,994,000

ACQUISITION (Pro Forma Informat

ACQUISITION (Pro Forma Information) (Details) - Specialty Pipe And Tube, Inc. [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 27, 2014	Sep. 27, 2014
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 56,683,000	$ 175,221,000
Business Acquisition, Pro Forma Net Income (Loss)	$ 4,320,000	$ 14,077,000

FINANCING ARRANGEMENT (Details)

FINANCING ARRANGEMENT (Details) - USD ($)	Nov. 21, 2014	Oct. 03, 2015	Jan. 03, 2015
Term Loan Due November 21, 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	5 years
Term loan, amount	$ 10,000,000
Debt Instrument, Periodic Payment, Principal	166,667
Variable rate basis on interest rate swap			LIBOR
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line Of Credit Facility, Increase In Maximum Borrowing Capacity	15,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Variable rate basis on interest rate swap		LIBOR

DISCONTINUED OPERATION (Details

DISCONTINUED OPERATION (Details) - Bristol Fab and Ram-fab [Member] - USD ($)	3 Months Ended	9 Months Ended
	Oct. 03, 2015	Oct. 03, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 3,252,000	$ 21,963,000
Loss from discontinued operations, before tax	(2,862,000)	(11,299,000)
(Benefit from) provision for income taxes	(963,000)	(3,544,000)
Net (loss) income from discontinued operations	$ (1,899,000)	$ (7,755,000)

BUSINESS INTERRUPTION INSURAN36

BUSINESS INTERRUPTION INSURANCE (Details) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 03, 2015	Oct. 03, 2015
Extraordinary and Unusual Items [Abstract]
Insurance Recoveries	$ 577,000	$ 1,057,000