Ascent Industries (ACNT) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	Synalloy Corporation
Entity Central Index Key	95,953
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 63,280,131
Entity Common Stock, Shares Outstanding		8,664,577
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 257,817	$ 391,424
Accounts receivable, less allowance for doubtful accounts of $179,000 and $247,000, respectively	20,128,605	17,946,119
Inventories	59,156,909	63,815,635
Prepaid expenses and other current assets	5,298,723	2,943,236
Total current assets	84,842,054	85,096,414
Cash value of life insurance	0	1,500,781
Property, plant and equipment, net of accumulated depreciation of $44,306,220 and $50,203,945, respectively	27,296,861	46,294,271
Goodwill	1,354,730	1,354,730
Intangible assets, net of accumulated amortization of $7,538,915 and $5,711,175	12,918,085	14,745,825
Deferred charges, net and other non-current assets	165,927	51,469
Total assets	126,577,657	149,043,490
Current liabilities
Accounts payable	13,036,358	12,265,930
Accrued expenses	6,267,754	9,891,868
Current portion of long-term debt	0	4,533,908
Other current liabilities	132,530	101,000
Total current liabilities	19,436,642	26,792,706
Long-term debt, less unamortized debt issuance costs of $0 and $135,915, respectively	8,441,723	23,409,886
Long-term environmental reserves	450,000	450,000
Deferred income taxes	1,892,568	3,016,954
Deferred compensation	146,257	146,257
Long-term portion of deferred gain on sale-leaseback	6,351,192	0
Other long-term liabilities	0	73,393
Shareholders' equity
Common stock, par value $1 per share - authorized 24,000,000 shares; issued 10,300,000 shares	10,300,000	10,300,000
Capital in excess of par value	34,642,130	34,476,240
Retained earnings	59,371,737	65,029,474
Shareholders' equity before treasury stock	104,313,867	109,805,714
Less cost of common stock in treasury: 1,641,639 and 1,663,314 shares, respectively	14,454,592	14,651,420
Total shareholders' equity	89,859,275	95,154,294
Commitments and contingencies – See Note 10
Total liabilities and shareholders' equity	$ 126,577,657	$ 149,043,490

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 179,000	$ 247,000
Assets
Accumulated depreciation	$ 44,306,220	$ 50,203,945
Shareholders' equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	24,000,000	24,000,000
Common stock, shares issued (in shares)	10,300,000	10,300,000
Common stock in treasury, at cost (in shares)	1,641,639	1,663,314
Intangible asset, net of accumulated amortization	$ 7,538,915	$ 5,711,175
Unamortized debt issuance costs	$ 0	$ 135,915

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015
Net sales	$ 34,297,231	$ 38,083,284	$ 105,515,911	$ 139,894,977
Cost of sales	29,792,812	33,546,114	92,295,722	118,000,119
Gross profit	4,504,419	4,537,170	13,220,189	21,894,858
Selling, general and administrative expense	5,814,655	5,220,747	17,041,216	16,312,428
Acquisition related costs	1,034	9,154	76,091	454,200
Loss on sale-leaseback			2,294,917	(10,000)
Business interruption insurance proceeds	0	(576,658)	0	(1,056,775)
Operating (loss) income	(3,766,617)	(116,073)	(6,352,465)	6,185,005
Other expense (income)
Interest expense	272,987	341,723	822,426	1,040,218
Change in fair value of interest rate swaps	(115,328)	247,152	276,512	233,235
Specialty and Palmer earn-out adjustments	0	(2,414,115)	0	(4,897,448)
Other, net	0	(23)	0	(137,214)
(Loss) income before income taxes	(3,924,276)	1,709,190	(7,451,403)	9,946,214
(Benefit from) provision for income taxes	(1,316,000)	354,000	(1,893,000)	2,498,000
Net (loss) income from continuing operations	(2,608,276)	1,355,190	(5,558,403)	7,448,214
Net loss from discontinued operations, net of tax	0	0	(99,334)	0
Net (loss) income	$ (2,608,276)	$ 1,355,190	$ (5,657,737)	$ 7,448,214
Net (loss) income per common share from continuing operations, per basic share	$ (0.30)	$ 0.16	$ (0.64)	$ 0.85
Net (loss) income per common share from continuing operations, per diluted share	(0.30)	0.16	(0.64)	0.85
Net loss per common share from discontinued operations, per basic share	0	0	(0.01)	0
Net loss per common share from discontinued operations, per diluted share	$ 0	$ 0	$ (0.01)	$ 0
Weighted average shares outstanding:
Basic (shares)	8,658,361	8,721,833	8,644,437	8,719,612
Dilutive effect from stock options and grants (shares)	0	0	0	6,559
Diluted (shares)	8,658,361	8,721,833	8,644,437	8,726,171
Sale-leaseback Transaction [Member]
Loss on sale-leaseback	$ 2,455,347	$ 0	$ 2,455,347	$ 0

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Oct. 03, 2015
Operating activities
Net (loss) income	$ (5,657,737)	$ 7,448,214
Loss from discontinued operations, net of tax	(99,334)	0
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation expense	3,322,115	3,514,073
Amortization expense	1,844,840	1,708,110
Non-cash interest expense on debt issuance costs	58,681	63,155
Deferred income taxes	(1,124,386)	1,117,339
Specialty and Palmer earn-out adjustments	0	(4,897,448)
Adjustments to allowance for doubtful accounts	(51,531)	(99,333)
Adjustments to inventory reserves	460,726	746,000
Loss (gain) on sale of property, plant and equipment	2,294,917	(10,000)
Change in cash value of life insurance	1,502	64,000
Change in fair value of interest rate swap	276,512	233,235
Change in environmental reserves	31,530	33,058
Issuance of treasury stock in lieu of cash for director fees	330,000	118,762
Employee stock option and grant compensation	291,262	403,418
Changes in operating assets and liabilities:
Accounts receivable	(2,130,955)	7,341,366
Inventories	4,198,000	1,283,635
Other assets and liabilities, net	(932,324)	(881,765)
Accounts payable	770,428	(10,316,034)
Accrued expenses	(174,063)	(1,987,528)
Accrued income taxes	(1,605,714)	739,590
Net cash (used in) provided by continuing operating activities	2,303,137	6,621,847
Net cash used in discontinued operating activities	(3,943,137)	(633,880)
Net cash (used in) provided by operating activities	(1,640,000)	5,987,967
Investing activities
Purchases of property, plant and equipment	(2,115,577)	(7,430,903)
Proceeds from sale of property, plant and equipment	22,215,362	12,000
Proceeds from casualty insurance	0	512,287
Proceeds from life insurance policies	1,502,283	720,518
Net cash provided by (used in) investing activities	21,602,068	(6,186,098)
Financing activities
Net borrowings from line of credit	6,566,157	4,070,548
Payments on long-term debt	(26,068,228)	(3,567,094)
Payments of capital lease obligation	(49,288)	(8,315)
Settlement of CRI interest rate swap	(290,427)	0
Proceeds from exercised stock options	0	8,302
Purchases of treasury stock	(253,889)	(122,503)
Net cash (used in) provided by financing activities	(20,095,675)	380,938
(Decrease) increase in cash and cash equivalents	(133,607)	182,807
Cash and cash equivalents at beginning of period	391,424	26,623
Cash and cash equivalents at end of period	257,817
Interest paid	711,916	938,855
Income taxes paid	$ 916,015	$ 2,197,809

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 , are not necessarily indicative of the results that may be expected for the year ending December 31, 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 December 31, 2015 . Accounting period On December 31, 2015, the Company elected to change its fiscal year from a 52-53 week year ending the Saturday nearest to December 31 to a calendar year ending December 31 effective with fiscal year 2015. The Company made this change prospectively and did not adjust operating results for prior periods. The third quarter of 2015 ended on October 3, 2015 and the third quarter of 2016 ended on September 30, 2016. The change of the month-end date had an insignificant effect on the financial results reported in this Form 10-Q. Reclassifications Customer rebates payable of $158,000 were reclassifed from accounts receivable to accrued expenses on the accompanying condensed consolidated balance sheet for the period ended December 31, 2015. This reclassification had no material effect on previously reported financial position, results of operations or shareholders' equity.

RECENTLY ADOPTED ACCOUNTING STA

RECENTLY ADOPTED ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	RECENTLY ISSUED 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 March 2016, the FASB issued ASU 2016-08, " Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ," to improve the operability and understandability of the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, " Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ," to clarify guidance for identifying performance obligations and licensing implementation. In May 2016, the FASB issued ASU 2016-12, " Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ," to clarify and improve the guidance for certain aspects of Topic 606. ASU 2015-14, " Deferral of the Effective Date ," 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 assessing when and which method it will choose for adoption, and is evaluating the impact of the adoption on its consolidated results of operations and financial position. 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 requires all legal entities to re-evaluate previous consolidation conclusions under the revised model and is effective for periods beginning after December 15, 2015. Effective January 1, 2016, the Company adopted the provisions of this ASU. There was no 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. Previously, capitalized debt issuance costs were presented as an asset on the consolidated balance sheets. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. Effective January 1, 2016, the Company adopted the provisions of this ASU and there was no material effect on the Company's consolidated financial statements. As a result of implementation, the Company reclassified unamortized debt issuance costs from "Deferred charges, net and other non-current assets" to "Long-term debt, less unamortized debt issuance costs" on the consolidated balance sheet as of December 31, 2015. At September 30, 2016, as the Company had no fixed-rate debt outstanding, the debt issuance costs for the current revolving line of credit are presented as "Deferred charges, net and other non-current assets" on the condensed consolidated balance sheet. Also, amortization expense originally recorded as "Selling, general and administrative expenses" related to debt acquisition costs for the three and nine-month periods ending September 30, 2016 and October 3, 2015 was reclassified as "Interest expense" on the consolidated statements of operations. In July 2015, the FASB issued 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 price 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 periods beginning after December 15, 2016. The Company elected to early adopt the provisions of this ASU effective for the nine month period ending September 30, 2016. The implementation of this ASU did not have a material effect on the Company's 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. Effective January 1, 2016, the Company adopted the provisions of this ASU. There was no effect on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which significantly modifies the recognition of impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. The amendment should be applied using a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact ASU 2016-09 will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting." The amendments in this updated guidance include changes to simplify the Codification for several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows and is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact ASU 2016-09 will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “ Leases ( Topic 842) ,” to increase the transparency and comparability of lease recognition and disclosure. The update requires lessees to recognize lease contracts with a term greater than one year on the balance sheet, while recognizing expenses on the income statement in a manner similar to current guidance. For lessors, the update makes targeted changes to the classification criteria and the lessor accounting model to align the guidance with the new lessee model and revenue guidance. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and must be applied using the modified retrospective approach. Early adoption is permitted. While the Company expects ASU 2016-02 to add significant right-of-use assets and lease liabilities to the consolidated balance sheets, it is evaluating other effects that the new standard will have on the consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a consensus of the FASB's Emerging Issues Task Force." The new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the effects the new guidance will have on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 740), Intra-Equity Transfers of Assets Other Than Inventory," which requires the recognition of the income tax consequences of an intra-equity transfer of an asset other than inventory, when the transfer occurs. ASU 2016-16 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the effects the new guidance will have on its consolidated financial statements.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost or market. Cost is determined by either standard or specific identification methods. The components of inventories are as follows: Sep 30, 2016 Dec 31, 2015 Raw materials $ 33,222,985 $ 34,821,694 Work-in-process 6,412,464 5,096,515 Finished goods 19,521,460 23,897,426 $ 59,156,909 $ 63,815,635

INTANGIBLE ASSETS AND DEFERRED

INTANGIBLE ASSETS AND DEFERRED CHARGES (Notes)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Policy [Policy Text Block]	INTANGIBLE ASSETS AND DEFERRED CHARGES Deferred charges and intangible assets totaled $20,708,000 at September 30, 2016 and $21,001,000 at December 31, 2015. Accumulated amortization of deferred charges and intangible assets totaled $7,624,000 at September 30, 2016 and $6,204,000 at December 31, 2015. Estimated amortization expense for the next five years is: remainder of 2016 - $629,000 ; 2017 - $2,385,000 ; 2018 - $2,227,000 ; 2019 - $2,065,000 ; 2020 - $1,897,000 ; and thereafter - $3,881,000 .

STOCK OPTIONS AND RESTRICTED ST

STOCK OPTIONS AND RESTRICTED STOCK	9 Months Ended
	Sep. 30, 2016
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 2016, no stock options were exercised by officers and employees of the Company. Stock compensation expense for the three and nine-month periods ended September 30, 2016 was approximately $102,000 and $291,000 , respectively, while stock compensation expense for the three and nine-month periods ended October 3, 2015 was approximately $130,000 and $403,000 , respectively. On May 5, 2016, the Compensation & Long-Term Incentive Committee of the Company's Board of Directors approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 42,348 shares with a market price of $8.05 per share were granted under the Plan. On February 19, 2016, the Compensation & Long-Term Incentive Committee of the Company's Board of Directors approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 50,062 shares with a market price of $7.51 per share were granted under the Plan. The stock awards vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant from shares held in treasury with the Company. In order for the awards to vest, the employee must be in the continuous employment of the Company since the date of the award. Any portion of an award that has not vested is forfeited upon termination of employment. The Company may terminate any portion of the award that has not vested upon an employee's failure to comply with all conditions of the award or the 2015 Stock Awards Plan. An employee is not entitled to any voting rights with respect to any shares not yet vested, and the shares are not transferable. The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. For the nine months ended September 30, 2016 and October 3, 2015 the Company had weighted average shares of common stock, in the form of stock grants and options, of 311,537 and 236,453 , respectively, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
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 2013 or state income tax examinations for years before 2011. The effective tax rate was 34 percent and 25 percent for the three and nine-month periods ended September 30, 2016, respectively. The nine-month effective tax rate was lower than the statutory rate of 34 percent primarily due to state tax expense, taxable life insurance cash surrender value gains and other permanent differences reducing the amount of tax benefit on the pre-tax loss for the year. The effective tax rate of 21 percent and 25 percent for the three and nine-month periods ended October 3, 2015, respectively, was lower than the 34 percent statutory rate primarily due to a non-taxable earn-out adjustment made in 2015. The year over year change in the effective rate is primarily related to the Company’s non-taxable earn-out adjustments in 2015 not recurring in 2016 and taxable life insurance cash surrender value gains. The Company accounts for income taxes for interim periods in accordance with "ASC Topic 740, Income Taxes" (“ASC 740”). ASC 740 requires the tax (or benefit) related to ordinary income (or loss) to be computed at an estimated annual effective tax rate and the tax (or benefit) related to all other items be individually computed and recognized when the items occur unless a reliable estimated annual effective tax rate cannot be calculated. Accordingly, based on forecasted pre-tax earnings (losses) compared to current year pretax activity and year to date actual permanent items, the income tax benefit for the nine months ended September 30, 2016 was determined based on the actual year-to-date effective tax rate because a reliable estimate of the annual effective tax rate cannot be made.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The following table summarizes certain information regarding segments of the Company's continuing operations: Three Months Ended Nine Months Ended Sep 30, 2016 Oct 3, 2015 Sep 30, 2016 Oct 3, 2015 Net sales Metals Segment $ 22,291,000 $ 23,084,000 $ 68,331,000 $ 92,488,000 Specialty Chemicals Segment 12,006,000 14,999,000 37,185,000 47,407,000 $ 34,297,000 $ 38,083,000 $ 105,516,000 $ 139,895,000 Operating (loss) income Metals Segment $ (3,240,000 ) $ (548,000 ) $ (5,661,000 ) $ 5,400,000 Specialty Chemicals Segment 1,188,000 1,598,000 3,720,000 4,624,000 (2,052,000 ) 1,050,000 (1,941,000 ) 10,024,000 Less unallocated corporate expenses 1,713,000 1,157,000 4,335,000 3,385,000 Acquisition related costs 1,000 9,000 76,000 454,000 Operating (loss) income (3,766,000 ) (116,000 ) (6,352,000 ) 6,185,000 Interest expense 273,000 342,000 822,000 1,040,000 Change in fair value of interest rate swap (115,000 ) 247,000 277,000 233,000 Specialty and Palmer earn-out adjustments — (2,414,000 ) — (4,897,000 ) Other income — — — (137,000 ) (Loss) income from operations before income taxes $ (3,924,000 ) $ 1,709,000 $ (7,451,000 ) $ 9,946,000 As of Sep 30, 2016 Dec 31, 2015 Identifiable assets Metals Segment $ 98,873,000 $ 112,749,000 Specialty Chemicals Segment 24,352,000 33,391,000 Corporate 3,353,000 2,903,000 $ 126,578,000 $ 149,043,000

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 related to the contingent consideration for Specialty Pipe & Tube, Inc. ("Specialty"), testing goodwill for impairment, the interest rate swaps and disclosures of the fair values of financial instruments. As of September 30, 2016 and December 31, 2015, the carrying amounts for cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Company's bank debt, which are based on variable interest rates, approximate their fair value. The carrying amount for cash value of life insurance at December 31, 2015 approximated its 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 $232,000 and $40,000 at September 30, 2016 and December 31, 2015 , respectively. During the third quarter of 2016, the swap contract entered into September 3, 2013 was settled and as result had no value at September 30, 2016. The fair value of this interest rate swap contract was a liability of $206,000 at December 31, 2015 . The interest rate swaps were priced using discounted cash flow techniques which are corroborated by using non-binding market prices. Changes in its fair value were recorded to other income (expense) with corresponding offsetting entries to long-term assets or liabilities, as appropriate. 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") resulting from the Palmer of Texas Tanks, Inc. ("Palmer") and Specialty acquisitions are classified as Level 3. Each quarter-end the Company re-evaluates its assumptions and adjustments to the estimated present value of the expected payments to be made, if required. The fair value of the 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. The Palmer earn-out period expired August 21, 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 for Specialty 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. As of September 30, 2016 and December 31, 2015, based upon projected revenue levels, the estimated fair value of the earn-out liability to the former owners of Specialty was zero . There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 in the nine-month period ended September 30, 2016 or year ended December 31, 2015 . During the first nine months of 2016, there have been no changes in the fair value methodologies used by the Company.

FINANCING ARRANGEMENT FINANCING

FINANCING ARRANGEMENT FINANCING ARRANGEMENT	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-term Debt	On August 31, 2016, the Company amended its Credit Agreement with its bank to create a new credit facility in the form of an asset-based revolving line of credit (the “Line”) in the amount of $45,000,000 . The Line was used to refinance and consolidate the existing line of credit and two existing term loans in the aggregate amount of approximately $24,200,000 . The maturity date of the Line is February 28, 2019. Interest on the Line is calculated using the One Month LIBOR Rate (as defined in the Credit Agreement), plus 1.85 percent. Borrowings under the Line are limited to an amount equal to a Borrowing Base calculation (as defined in the Credit Agreement) that includes eligible accounts receivable and inventory. Pursuant to the Credit Agreement, the Company was required to pledge all of its tangible and intangible properties, including the stock and membership interests of its subsidiaries. In the Credit Agreement, the Company's bank agreed to release its liens on the real estate properties covered by the Purchase and Sale Agreement ("PSA"), as described in Note 11. Covenants under the Credit Agreement include maintaining a minimum fixed charge coverage ratio and a limitation on the Company’s maximum amount of capital expenditures per year, which is in line with currently projected needs. The minimum fixed charge coverage requirement begins for the fourth quarter ending December 31, 2016. The Company evaluated this transaction in accordance with Accounting Standards Codification ("ASC") 470-50-40-10 and ASC 470-50-40-21 and determined the restructuring should be accounted for as a debt modification. The Company incurred lender and third party costs associated with the debt restructuring that were capitalized on the balance sheet while certain other third party costs were expensed. On September 30, 2016, the Company paid off its remaining term note with its bank in conjunction with the sale leaseback transaction; see Note 11.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
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. On March 11, 2016, in a suit filed by a Metals Segment customer against Synalloy Fabrication, LLC (discontinued operation), the United States District Court of Maryland (Baltimore Division) granted summary judgment regarding liability in favor of the plaintiff by ruling that an enforceable contract existed between the parties and the Company breached the agreement. As a result of this ruling, the remaining issue in the case was the amount of the plaintiff's damages. Consequently, the Company increased the facility closing liability to a level of $3,000,000 for the estimated costs associated with this claim for the year ended December 31, 2015. In June 2016, the matter was settled for damages totaling $3,100,000 . As a result, the Company increased the facility closing liability and made a payment of $2,500,000 in June 2016. In September 2016 the remaining balance of $600,000 was paid in full. The amount required to adjust the facility closing reserve as a result of the settlement is included in discontinued operations on the accompanying consolidated statements of operations. Other than the matters discussed in this note, management is not currently aware of any other asserted or unasserted matters which could have a material effect on the financial condition or results of operations of the Company.

SALE LEASEBACK TRANSACTION (Not

SALE LEASEBACK TRANSACTION (Notes)	9 Months Ended
	Sep. 30, 2016
SALE LEASEBACK TRANSACTION [Abstract]
Sale Leaseback Transaction Disclosure [Text Block]	SALE LEASEBACK TRANSACTION On August 31, 2016, Synalloy and its operating subsidiaries ("the Synalloy Companies") entered into the PSA with Store Capital Acquisitions, LLC, a Delaware limited liability company and an affiliate of Store Capital Corporation (“Store Capital Acquisitions”). Store Capital Acquisitions assigned its rights under the PSA to Store Master Funding XII, LLC, a Delaware limited liability company ("Store Funding"), prior to closing. On September 30, 2016, pursuant to the terms and conditions of the PSA, the Synalloy Companies completed the sale of their real estate properties in Tennessee, South Carolina, Texas and Ohio to Store Funding for a purchase price of $22,000,000 . Concurrent with the sale of its real properties, the Company leased back all real properties sold to Store Funding. The closing of the sale-leaseback transaction provided Synalloy with net proceeds (after transaction-related costs) of approximately $21,925,000 . The net proceeds were used to pay down debt under the Company's credit agreement, as described in Note 9. This will allow sufficient availability on the Company's line of credit to pursue future acquisitions, finance high return on investment capital projects or for other corporate purposes. The initial non-cancelable term of the lease is 20 years, with two renewal options of ten years each. First year rent expense will be $1,892,000 . The lease includes a rent escalator equal to the lesser of 1.25 times the percentage increase in the Consumer Price Index since the previous increase or two percent. The lease met the operating lease requirements and has been accounted for as such. For each location, Synalloy simultaneously entered into a sublease with each operating subsidiary. The amount of future minimum lease payments under the operating leases are as follows: remainder of 2016 - $473,000 ; 2017 - $1,901,000 ; 2018 - $1,940,000 ; 2019 - $1,978,000 ; 2020 - $2,018,000 ; and thereafter - $37,661,000 . The sale-leaseback transaction is treated as a sale of assets. In accordance with ASC 840 - Leases, applicable gains and losses as a result of the sale-leaseback transaction were recorded at the subsidiary levels. Losses on the sale of $2,455,000 were recognized in the third quarter and are reflected in the accompanying condensed statement of operations for the three and nine months ended September 30, 2016. In addition, transaction closing costs of $102,000 were included in "Selling, general, and administrative expense" on the condensed statement of operations for the third quarter and nine months ended September 30, 2016. For properties where the present value of future lease payments exceeds the gain on sale of assets, a deferred gain was recognized. The deferred gain will be amortized on the straight-line method over the remaining life of the lease of approximately 20 years. Beginning in the fourth quarter, deferred gain amortization will be included as a reduction to "Selling, general, and administrative expense" in the accompanying condensed consolidated statements of income. The current portion of the deferred gain of $334,000 is included in "Accrued expenses" and the long-term portion of the deferred gain of $6,351,000 is included in "Long-term portion of deferred gain on sale-leaseback" in the accompanying condensed consolidated balance sheets.

BUSINESS INTERRUPTION INSURANCE

BUSINESS INTERRUPTION INSURANCE (Notes)	9 Months Ended
	Sep. 30, 2016
Business Interruption Loss [Line Items]
Business Insurance Recoveries [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
	Sep. 30, 2016
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 September 30, 2016 , are not necessarily indicative of the results that may be expected for the year ending December 31, 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 December 31, 2015 .
Fiscal Period, Policy [Policy Text Block]	Accounting period On December 31, 2015, the Company elected to change its fiscal year from a 52-53 week year ending the Saturday nearest to December 31 to a calendar year ending December 31 effective with fiscal year 2015. The Company made this change prospectively and did not adjust operating results for prior periods. The third quarter of 2015 ended on October 3, 2015 and the third quarter of 2016 ended on September 30, 2016.
Reclassifications	Reclassifications Customer rebates payable of $158,000 were reclassifed from accounts receivable to accrued expenses on the accompanying condensed consolidated balance sheet for the period ended December 31, 2015. This reclassification had no material effect on previously reported financial position, results of operations or shareholders' equity.
Recently Adopted Accounting Standards	RECENTLY ISSUED 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 March 2016, the FASB issued ASU 2016-08, " Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ," to improve the operability and understandability of the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, " Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ," to clarify guidance for identifying performance obligations and licensing implementation. In May 2016, the FASB issued ASU 2016-12, " Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ," to clarify and improve the guidance for certain aspects of Topic 606. ASU 2015-14, " Deferral of the Effective Date ," 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 assessing when and which method it will choose for adoption, and is evaluating the impact of the adoption on its consolidated results of operations and financial position. 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 requires all legal entities to re-evaluate previous consolidation conclusions under the revised model and is effective for periods beginning after December 15, 2015. Effective January 1, 2016, the Company adopted the provisions of this ASU. There was no 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. Previously, capitalized debt issuance costs were presented as an asset on the consolidated balance sheets. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. Effective January 1, 2016, the Company adopted the provisions of this ASU and there was no material effect on the Company's consolidated financial statements. As a result of implementation, the Company reclassified unamortized debt issuance costs from "Deferred charges, net and other non-current assets" to "Long-term debt, less unamortized debt issuance costs" on the consolidated balance sheet as of December 31, 2015. At September 30, 2016, as the Company had no fixed-rate debt outstanding, the debt issuance costs for the current revolving line of credit are presented as "Deferred charges, net and other non-current assets" on the condensed consolidated balance sheet. Also, amortization expense originally recorded as "Selling, general and administrative expenses" related to debt acquisition costs for the three and nine-month periods ending September 30, 2016 and October 3, 2015 was reclassified as "Interest expense" on the consolidated statements of operations. In July 2015, the FASB issued 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 price 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 periods beginning after December 15, 2016. The Company elected to early adopt the provisions of this ASU effective for the nine month period ending September 30, 2016. The implementation of this ASU did not have a material effect on the Company's 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. Effective January 1, 2016, the Company adopted the provisions of this ASU. There was no effect on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which significantly modifies the recognition of impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. The amendment should be applied using a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact ASU 2016-09 will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting." The amendments in this updated guidance include changes to simplify the Codification for several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows and is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. The Company did not elect to early adopt the provisions of this ASU and is currently evaluating the impact ASU 2016-09 will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “ Leases ( Topic 842) ,” to increase the transparency and comparability of lease recognition and disclosure. The update requires lessees to recognize lease contracts with a term greater than one year on the balance sheet, while recognizing expenses on the income statement in a manner similar to current guidance. For lessors, the update makes targeted changes to the classification criteria and the lessor accounting model to align the guidance with the new lessee model and revenue guidance. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and must be applied using the modified retrospective approach. Early adoption is permitted. While the Company expects ASU 2016-02 to add significant right-of-use assets and lease liabilities to the consolidated balance sheets, it is evaluating other effects that the new standard will have on the consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a consensus of the FASB's Emerging Issues Task Force." The new guidance addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the effects the new guidance will have on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 740), Intra-Equity Transfers of Assets Other Than Inventory," which requires the recognition of the income tax consequences of an intra-equity transfer of an asset other than inventory, when the transfer occurs. ASU 2016-16 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the effects the new guidance will have on its consolidated financial statements.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of components of inventories	Inventories are stated at the lower of cost or market. Cost is determined by either standard or specific identification methods. The components of inventories are as follows: Sep 30, 2016 Dec 31, 2015 Raw materials $ 33,222,985 $ 34,821,694 Work-in-process 6,412,464 5,096,515 Finished goods 19,521,460 23,897,426 $ 59,156,909 $ 63,815,635

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Three Months Ended Nine Months Ended Sep 30, 2016 Oct 3, 2015 Sep 30, 2016 Oct 3, 2015 Net sales Metals Segment $ 22,291,000 $ 23,084,000 $ 68,331,000 $ 92,488,000 Specialty Chemicals Segment 12,006,000 14,999,000 37,185,000 47,407,000 $ 34,297,000 $ 38,083,000 $ 105,516,000 $ 139,895,000 Operating (loss) income Metals Segment $ (3,240,000 ) $ (548,000 ) $ (5,661,000 ) $ 5,400,000 Specialty Chemicals Segment 1,188,000 1,598,000 3,720,000 4,624,000 (2,052,000 ) 1,050,000 (1,941,000 ) 10,024,000 Less unallocated corporate expenses 1,713,000 1,157,000 4,335,000 3,385,000 Acquisition related costs 1,000 9,000 76,000 454,000 Operating (loss) income (3,766,000 ) (116,000 ) (6,352,000 ) 6,185,000 Interest expense 273,000 342,000 822,000 1,040,000 Change in fair value of interest rate swap (115,000 ) 247,000 277,000 233,000 Specialty and Palmer earn-out adjustments — (2,414,000 ) — (4,897,000 ) Other income — — — (137,000 ) (Loss) income from operations before income taxes $ (3,924,000 ) $ 1,709,000 $ (7,451,000 ) $ 9,946,000 As of Sep 30, 2016 Dec 31, 2015 Identifiable assets Metals Segment $ 98,873,000 $ 112,749,000 Specialty Chemicals Segment 24,352,000 33,391,000 Corporate 3,353,000 2,903,000 $ 126,578,000 $ 149,043,000

BASIS OF PRESENTATION RECLASSIF

BASIS OF PRESENTATION RECLASSIFICATIONS (Details)	Dec. 31, 2015USD ($)
Text Block [Abstract]
Customer Rebates Payable	$ 158,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 33,222,985	$ 34,821,694
Work-in-process	6,412,464	5,096,515
Finished goods	19,521,460	23,897,426
Inventories	$ 59,156,909	$ 63,815,635

INTANGIBLE ASSETS AND DEFERRE23

INTANGIBLE ASSETS AND DEFERRED CHARGES (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Intangible Assets and Deferred Charges [Abstract]
Intangible Assets, (Excluding Goodwill), Including Deferred Charges	$ 20,708,000	$ 21,001,000
Finite-Lived Intangibles Assets, Including Deferred Charges, Accumulated Amortization	7,624,000	$ 6,204,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	629,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,385,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,227,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2,065,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	1,897,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 3,881,000

STOCK OPTIONS AND RESTRICTED 24

STOCK OPTIONS AND RESTRICTED STOCK (Details) - USD ($)	May 05, 2016	Feb. 19, 2016	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ 102,000	$ 130,000	$ 291,000	$ 403,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					311,537	236,453
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised (shares)					0
2015 Stock Awards Plan [Member] | Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting rate (percent)	20.00%	20.00%
Period after option grant before options can be exercised (years)	1 year	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	42,348	50,062
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 8.05	$ 7.51

INCOME TAXES Income Taxes (Deta

INCOME TAXES Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	34.00%	21.00%	25.00%	25.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			34.00%	34.00%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 34,297,231	$ 38,083,284	$ 105,515,911	$ 139,894,977
Operating (loss) income	(2,052,000)	1,050,000	(1,941,000)	10,024,000
Acquisition related costs	1,034	9,154	76,091	454,200
Operating (loss) income	(3,766,617)	(116,073)	(6,352,465)	6,185,005
Change in fair value of interest rate swaps	(115,328)	247,152	276,512	233,235
Specialty and Palmer earn-out adjustments	0	(2,414,115)	0	(4,897,448)
(Loss) income before income taxes	(3,924,276)	1,709,190	(7,451,403)	9,946,214
Assets	126,577,657		126,577,657		$ 149,043,490
Metals Segment [Member]
Segment Reporting Information [Line Items]
Net sales	22,291,000	23,084,000	68,331,000	92,488,000
Operating (loss) income	(3,240,000)	(548,000)	(5,661,000)	5,400,000
Assets	98,873,000		98,873,000		112,749,000
Specialty Chemicals Segment [Member]
Segment Reporting Information [Line Items]
Net sales	12,006,000	14,999,000	37,185,000	47,407,000
Operating (loss) income	1,188,000	1,598,000	3,720,000	4,624,000
Assets	24,352,000		24,352,000		33,391,000
Corporate [Member]
Segment Reporting Information [Line Items]
Less unallocated corporate expenses	1,713,000	1,157,000	4,335,000	3,385,000
Acquisition related costs	1,000	9,000	76,000	454,000
Operating (loss) income	(3,766,000)	(116,000)	(6,352,000)	6,185,000
Interest expense	273,000	342,000	822,000	1,040,000
Change in fair value of interest rate swaps	(115,000)	247,000	277,000	233,000
Specialty and Palmer earn-out adjustments	0	(2,414,000)	0	(4,897,000)
Other Income	0	0	0	(137,000)
(Loss) income before income taxes	(3,924,000)	1,709,000	(7,451,000)	9,946,000
Assets	3,353,000		3,353,000		$ 2,903,000
Operating Segment [Member]
Segment Reporting Information [Line Items]
Net sales	$ 34,297,000	$ 38,083,000	$ 105,516,000	$ 139,895,000

FAIR VALUE OF FINANCIAL INSTR27

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Apr. 04, 2015	Jul. 04, 2015	Sep. 30, 2016	Dec. 31, 2015	Nov. 21, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets, (Excluding Goodwill), Including Deferred Charges			$ 20,708,000	$ 21,001,000
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]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 0
Change in fair value of contingent consideration liability	$ 2,483,000
Specialty Pipe And Tube, Inc. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Contingent Consideration, Estimated Revenues Year 1					$ 28,800,000
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]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value			$ 0	0
Change in fair value of contingent consideration liability		$ 2,419,000		2,414,000
Term Loan [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Variable rate basis on interest rate swap			LIBOR
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			$ 232,000	40,000
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			$ 0	$ 206,000

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Level 3 Liabilities Rollforward) (Details) - Specialty Pipe And Tube, Inc. [Member] - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jul. 04, 2015	Dec. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value of contingent consideration liability	$ (2,419,000)	$ (2,414,000)
Ending balance		$ 0

ACQUISITION (Narrative) (Detail

ACQUISITION (Narrative) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 1,354,730	$ 1,354,730

FINANCING ARRANGEMENT (Details)

FINANCING ARRANGEMENT (Details)	Aug. 31, 2016USD ($)
Debt Instrument [Line Items]
Payment of Debt, Two of Three Existing Term Loans	$ 24,200,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variable rate basis on interest rate swap	LIBOR
Line of Credit Facility, Maximum Borrowing Capacity	$ 45,000,000

CONTINGENCIES Commitments and C

CONTINGENCIES Commitments and Contingencies (Details) - Metals Segment Customer Breach of Contract Case [Member] - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2016	Dec. 31, 2015	Jun. 30, 2016
Settled Litigation [Member]
Product Liability Contingency [Line Items]
Loss Contingency, Damages Sought, Value			$ 3,100,000
Loss Contingency, Damages Paid, Value		$ 600,000		$ 2,500,000
Pending Litigation [Member]
Product Liability Contingency [Line Items]
Loss Contingency, Damages Sought, Value	$ 3,000,000

SALE LEASEBACK TRANSACTION (Det

SALE LEASEBACK TRANSACTION (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015	Dec. 31, 2015
Sale Leaseback Transaction [Line Items]
Long-term portion of deferred gain on sale-leaseback	$ 6,351,192	$ 6,351,192		$ 6,351,192		$ 0
Sale Leaseback Transaction, Gross Proceeds, Investing Activities	22,000,000
Sale Leaseback Transaction, Net Proceeds, Investing Activities	21,925,000
Rent expense, year one, sale-leaseback transaction				1,892,000
Minimum Lease Payments, Sale Leaseback Transactions, Remainder of Fiscal Year	473,000	473,000		473,000
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months	1,901,000	1,901,000		1,901,000
Minimum Lease Payments, Sale Leaseback Transactions, within Two Years	1,940,000	1,940,000		1,940,000
Minimum Lease Payments, Sale Leaseback Transactions, within Three Years	1,978,000	1,978,000		1,978,000
Minimum Lease Payments, Sale Leaseback Transactions, within Four Years	2,018,000	2,018,000		2,018,000
Minimum Lease Payments, Sale Leaseback Transactions, within Five Years	37,661,000	37,661,000		37,661,000
Loss on sale-leaseback				2,294,917	$ (10,000)
Sale Leaseback Transaction, Transaction Costs, Investing Activities		102,000
Current portion of deferred gain on sale-leaseback	$ 334,000	334,000		334,000
Sale-leaseback Transaction [Member]
Sale Leaseback Transaction [Line Items]
Loss on sale-leaseback		$ 2,455,347	$ 0	$ 2,455,347	$ 0

BUSINESS INTERRUPTION INSURAN33

BUSINESS INTERRUPTION INSURANCE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Oct. 03, 2015	Sep. 30, 2016	Oct. 03, 2015
Business Interruption Loss [Line Items]
Gain on Business Interruption Insurance Recovery	$ 0	$ 576,658	$ 0	$ 1,056,775