Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 04, 2019 | Jun. 29, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Northwest Pipe Co. | ||
Entity Central Index Key | 0001001385 | ||
Trading Symbol | nwpx | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 9,735,055 | ||
Entity Public Float | $ 156,324,442 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Net sales | $ 172,149 | $ 132,780 | $ 149,387 | ||
Cost of sales | 160,053 | 126,965 | 149,323 | ||
Gross profit | 12,096 | [1] | 5,815 | [2] | 64 |
Selling, general, and administrative expense | 16,663 | 14,143 | 16,921 | ||
Gain on sale of facilities | (2,960) | (7,860) | |||
Restructuring expense | 1,364 | 881 | 990 | ||
Operating loss | (2,971) | [1] | (9,209) | (9,987) | |
Bargain purchase gain | 20,080 | ||||
Other income (expense) | 267 | 201 | (357) | ||
Interest income | 267 | 6 | 14 | ||
Interest expense | (583) | (490) | (509) | ||
Income (loss) from continuing operations before income taxes | 17,060 | (9,492) | (10,839) | ||
Income tax benefit | (3,252) | (1,100) | (4,098) | ||
Income (loss) from continuing operations | 20,312 | (8,392) | (6,741) | ||
Discontinued operations: | |||||
Loss from operations of discontinued operations | (1,779) | (3,180) | |||
Gain on sale of facility | 6 | ||||
Income tax benefit | (2) | (658) | |||
Loss on discontinued operations | (1,771) | (2,522) | |||
Net income (loss) | $ 20,312 | [3] | $ (10,163) | $ (9,263) | |
Basic income (loss) per share: | |||||
Continuing operations, basic (in dollars per share) | $ 2.09 | $ (0.88) | $ (0.71) | ||
Discontinued operations, basic (in dollars per share) | (0.18) | (0.26) | |||
Net income (loss) per share, basic (in dollars per share) | 2.09 | (1.06) | (0.97) | ||
Diluted income (loss) per share: | |||||
Continuing operations, diluted (in dollars per share) | 2.09 | (0.88) | (0.71) | ||
Discontinued operations, diluted (in dollars per share) | (0.18) | (0.26) | |||
Net income (loss) per share, diluted (in dollars per share) | $ 2.09 | $ (1.06) | $ (0.97) | ||
Shares used in per share calculations: | |||||
Basic (in shares) | 9,726 | 9,613 | 9,588 | ||
Diluted (in shares) | 9,733 | 9,613 | 9,588 | ||
[1] | Operating income for the third quarter of 2018 includes a gain on sale of facility of $2.8 million for the sale of property in Houston, Texas. Operating income for the fourth quarter of 2018 includes a gain on sale of facility of $0.2 million for the sale of the Monterrey, Mexico facility. | ||||
[2] | Gross profit for the fourth quarter of 2017 includes a charge of $1.2 million to cost of sales as a result of a change in estimate to workers compensation reserves. | ||||
[3] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Net income (loss) | $ 20,312 | [1] | $ (10,163) | $ (9,263) |
Other comprehensive income (loss), net of tax: | ||||
Pension liability adjustment | (115) | 57 | 131 | |
Unrealized gain (loss) on cash flow hedges | 24 | (19) | (76) | |
Other comprehensive income (loss), net of tax | (91) | 38 | 55 | |
Comprehensive income (loss) | $ 20,221 | $ (10,125) | $ (9,208) | |
[1] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 6,677 | $ 43,646 |
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | 34,394 | 28,990 |
Contract assets | 74,271 | 44,502 |
Inventories | 39,376 | 17,055 |
Prepaid expenses and other | 4,795 | 6,562 |
Total current assets | 159,513 | 140,755 |
Property and equipment, net | 103,447 | 78,756 |
Other assets | 8,390 | 10,813 |
Total assets | 271,350 | 230,324 |
Current liabilities: | ||
Accounts payable | 19,784 | 7,521 |
Accrued liabilities | 7,547 | 6,563 |
Contract liabilities | 3,745 | 2,599 |
Current portion of capital lease obligations | 416 | 318 |
Total current liabilities | 31,492 | 17,001 |
Borrowings on line of credit | 11,464 | |
Capital lease obligations, less current portion | 839 | 737 |
Deferred income taxes | 68 | 941 |
Other long-term liabilities | 8,897 | 11,381 |
Total liabilities | 52,760 | 30,060 |
Commitments and contingencies (Note 15) | ||
Stockholders’ equity: | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding | ||
Common stock, $.01 par value, 15,000,000 shares authorized, 9,735,055 and 9,619,755 shares issued and outstanding | 97 | 96 |
Additional paid-in-capital | 118,835 | 119,856 |
Retained earnings | 101,194 | 81,757 |
Accumulated other comprehensive loss | (1,536) | (1,445) |
Total stockholders’ equity | 218,590 | 200,264 |
Total liabilities and stockholders’ equity | $ 271,350 | $ 230,324 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Allowance for doubtful accounts | $ 660 | $ 477 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, shares issued (in shares) | 9,735,055 | 9,619,755 |
Common stock, shares outstanding (in shares) | 9,735,055 | 9,619,755 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balances (in shares) at Dec. 31, 2015 | 9,564,752 | |||||
Beginning balance at Dec. 31, 2015 | $ 96 | $ 117,819 | $ 101,183 | $ (1,538) | $ 217,560 | |
Net income (loss) | (9,263) | (9,263) | ||||
Pension liability adjustment, net of tax expense/benefit | 131 | 131 | ||||
Unrealized gain (loss) on cash flow hedges, net of tax expense/benefit | (76) | (76) | ||||
Issuance of common stock under stock compensation plans (in shares) | 36,259 | |||||
Issuance of common stock under stock compensation plans | (31) | (31) | ||||
Tax deficiency from stock compensation plans | (909) | (909) | ||||
Share-based compensation expense | 1,801 | 1,801 | ||||
Balances (in shares) at Dec. 31, 2016 | 9,601,011 | |||||
Ending balance at Dec. 31, 2016 | $ 96 | 118,680 | 91,920 | (1,483) | 209,213 | |
Net income (loss) | (10,163) | (10,163) | ||||
Pension liability adjustment, net of tax expense/benefit | 57 | 57 | ||||
Unrealized gain (loss) on cash flow hedges, net of tax expense/benefit | (19) | (19) | ||||
Issuance of common stock under stock compensation plans (in shares) | 18,744 | |||||
Issuance of common stock under stock compensation plans | (24) | (24) | ||||
Share-based compensation expense | 1,200 | 1,200 | ||||
Balances (in shares) at Dec. 31, 2017 | 9,619,755 | |||||
Ending balance at Dec. 31, 2017 | $ 96 | 119,856 | 81,757 | (1,445) | 200,264 | |
Cumulative-effect adjustment (Note 2) | (875) | (875) | ||||
Balances (in shares) at Jan. 01, 2018 | 9,619,755 | |||||
Ending balance at Jan. 01, 2018 | $ 96 | 119,856 | 80,882 | (1,445) | 199,389 | |
Balances (in shares) at Dec. 31, 2017 | 9,619,755 | |||||
Beginning balance at Dec. 31, 2017 | $ 96 | 119,856 | 81,757 | (1,445) | 200,264 | |
Net income (loss) | [1] | 20,312 | ||||
Balances (in shares) at Dec. 31, 2018 | 9,735,055 | |||||
Ending balance at Dec. 31, 2018 | $ 97 | 118,835 | 101,194 | (1,536) | 218,590 | |
Balances (in shares) at Jan. 01, 2018 | 9,619,755 | |||||
Beginning balance at Jan. 01, 2018 | $ 96 | 119,856 | 80,882 | (1,445) | 199,389 | |
Net income (loss) | 20,312 | 20,312 | ||||
Pension liability adjustment, net of tax expense/benefit | (115) | (115) | ||||
Unrealized gain (loss) on cash flow hedges, net of tax expense/benefit | 24 | 24 | ||||
Issuance of common stock under stock compensation plans (in shares) | 115,300 | |||||
Issuance of common stock under stock compensation plans | $ 1 | (1,302) | (1,301) | |||
Share-based compensation expense | 281 | 281 | ||||
Balances (in shares) at Dec. 31, 2018 | 9,735,055 | |||||
Ending balance at Dec. 31, 2018 | $ 97 | $ 118,835 | $ 101,194 | $ (1,536) | $ 218,590 | |
[1] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Pension liability adjustment, tax expense/benefit | $ (46) | $ 21 | $ 82 |
Unrealized gain (loss) on cash flow hedges, expense/ benefit | $ 9 | $ (6) | $ (43) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Cash flows from operating activities: | ||||
Net income (loss) | $ 20,312 | [1] | $ (10,163) | $ (9,263) |
Loss on discontinued operations | (1,771) | (2,522) | ||
Income (loss) from continuing operations | 20,312 | (8,392) | (6,741) | |
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used in) operating activities: | ||||
Bargain purchase gain | (20,080) | |||
Depreciation and capital lease amortization | 8,767 | 6,060 | 8,768 | |
Gain on sale of facilities | (2,960) | (7,860) | ||
Amortization of intangible assets | 550 | 495 | 523 | |
Amortization of debt issuance costs | 151 | 168 | 166 | |
Provision for doubtful accounts | 429 | 638 | 289 | |
Deferred income taxes | (3,847) | (341) | (4,750) | |
(Gain) loss on disposal of property and equipment | 222 | (51) | 19 | |
Share-based compensation expense | 281 | 1,200 | 1,809 | |
Adjustments to contingent consideration | 27 | (1,657) | ||
Unrealized (gain) loss on foreign currency forward contracts | (137) | 90 | 170 | |
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: | ||||
Trade and other receivables | 2,220 | (4,073) | 80 | |
Contract assets, net | (17,809) | (278) | 447 | |
Inventories | (13,628) | 1,543 | 5,728 | |
Refundable income taxes | (146) | (77) | 3,254 | |
Prepaid expenses and other assets | 3,056 | (138) | (630) | |
Accounts payable | 6,592 | 2,128 | 1,048 | |
Accrued and other liabilities | (2,373) | (4,792) | (2,456) | |
Net cash used in operating activities from continuing operations | (18,400) | (5,793) | (1,793) | |
Net cash provided by (used in) operating activities from discontinued operations | (1,727) | 3,312 | ||
Net cash provided by (used in) operating activities | (18,400) | (7,520) | 1,519 | |
Cash flows from investing activities: | ||||
Acquisition of business, net of cash acquired | (37,223) | |||
Additions to property and equipment | (3,797) | (2,851) | (2,292) | |
Proceeds from sale of facilities | 8,515 | 13,914 | ||
Proceeds from sale of property and equipment | 141 | 146 | 33 | |
Net cash provided by (used in) investing activities from continuing operations | (32,364) | (2,705) | 11,655 | |
Net cash provided by investing activities from discontinued operations | 4,465 | 32,505 | ||
Net cash provided by (used in) investing activities | (27,899) | 29,800 | 11,655 | |
Cash flows from financing activities: | ||||
Tax withholdings related to net share settlements of restricted stock and performance share awards | (1,301) | (24) | (31) | |
Borrowings on line of credit | 29,904 | |||
Repayments on line of credit | (18,440) | |||
Payments of debt issuance costs | (435) | |||
Payments on capital lease obligations | (398) | (327) | (279) | |
Payments of contingent consideration | (112) | (1,233) | ||
Net cash provided by (used in) financing activities from continuing operations | 9,330 | (463) | (1,543) | |
Net cash used in financing activities from discontinued operations | (111) | |||
Net cash provided by (used in) financing activities | 9,330 | (463) | (1,654) | |
Change in cash and cash equivalents | (36,969) | 21,817 | 11,520 | |
Cash and cash equivalents, beginning of period | 43,646 | 21,829 | 10,309 | |
Cash and cash equivalents, end of period | 6,677 | 43,646 | 21,829 | |
Supplemental disclosure of cash flow information: | ||||
Cash paid during the period for interest, net of amounts capitalized | 330 | 258 | 283 | |
Cash paid (received) during the period for income taxes (net of refunds of $1, $213 and $3,427) | 170 | (153) | (3,322) | |
Noncash investing and financing activities: | ||||
Accrued property and equipment purchases | 336 | 184 | 59 | |
Capital lease additions | 599 | 455 | 259 | |
Proceeds from sale of facility placed in escrow | $ 4,465 | |||
[1] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Tax refunds | $ 1 | $ 213 | $ 3,427 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION : Northwest Pipe Company (collectively with its subsidiaries, the “Company”) operates in one |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. On an ongoing basis, the Company evaluates all of its estimates, including those related to allowance for doubtful accounts, inventories, long-lived assets (including depreciation and amortization), revenue recognition, share-based compensation, income taxes, and litigation and other contingencies. Actual results may Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Northwest Pipe Company and its subsidiaries over which the Company exercises control as of the financial statement date. Intercompany accounts and transactions have been eliminated. Business Combinations Business combinations are accounted for under the acquisition method which requires identifiable assets acquired and liabilities assumed in the business acquired be recognized and measured at fair value on the acquisition date, which is the date that the acquirer obtains control of the acquired business. The amount by which the fair value of consideration transferred as the purchase price exceeds the net fair value of assets acquired and liabilities assumed is recorded as goodwill. The amount by which the net fair value of assets acquired and liabilities assumed exceeds the fair value of consideration transferred as the purchase price is recorded as a bargain purchase gain. Acquisition-related costs are expensed as incurred. These estimates are inherently uncertain and unpredictable. In addition, unanticipated events and circumstances may may may one may Cash and Cash Equivalents Cash and cash equivalents consist of cash and short-term, highly-liquid investments with maturities of three no December 31, 2018 2017. Receivables and Allowance for Doubtful Accounts Trade receivables are reported on the Consolidated Balance Sheet net of doubtful accounts. The Company maintains allowances for estimated losses resulting from the inability of its customers to make required payments or from contract disputes. The amounts of such allowances are based on historical experience and management’s judgment. The Company will write down or write off a receivable account once the account is deemed uncollectible. If the customers’ financial conditions were to deteriorate resulting in their inability to make payments, or if contract disputes were to escalate, additional allowances may Contract Assets and Liabilities Contract assets primarily represent revenue earned over time but not 30 Inventories Inventories are stated at the lower of cost and net realizable value. The cost of raw material inventories of steel is either on a specific identification basis or on an average cost basis. The cost of all other raw material inventories, as well as work-in-process and supplies, is on an average cost basis. The cost of finished goods uses the first first Property and Equipment Property and equipment are recorded at cost. Maintenance and repairs are expensed as incurred, and costs of new equipment and buildings, as well as costs of expansions or refurbishment of existing equipment and buildings, including interest where applicable, are capitalized. Depreciation and amortization are determined by the units of production method for most equipment and by the straight-line method for the remaining assets based on the estimated useful lives of the related assets. Estimated useful lives by major classes of property and equipment are as follows: Land improvements ( 15 30 20 40 3 30 may The Company assesses impairment of property and equipment whenever changes in circumstances indicate that the carrying values of the asset or asset group(s) may not Intangible Assets Intangible assets consist primarily of customer relationships and trade names and trademarks recorded as the result of acquisition activity. Intangible assets are amortized using the straight-line method over estimated useful lives ranging from eleven 15 7, Workers Compensation The Company is self-insured, or maintains high deductible policies, for losses and liabilities associated with workers compensation claims. Losses are accrued based upon the Company’s estimates of the aggregate liability for claims incurred using historical experience and certain actuarial assumptions followed in the insurance industry. As of December 31, 2018 2017, $2.7 $3.7 $0.5 $0.4 $2.2 $3.3 Accrued Liabilities Accrued liabilities consist of the following (in thousands): December 31, 2018 2017 Accrued liabilities: Accrued vacation payable $ 2,211 $ 1,886 Accrued sales tax 1,753 550 Accrued property taxes 600 898 Workers compensation reserves 452 422 Provision for losses on uncompleted contracts 85 911 Other 2,446 1,896 Total accrued liabilities $ 7,547 $ 6,563 Derivative Instruments The Company conducts business in various foreign countries and, from time to time, settles transactions in foreign currencies. The Company has established a program that utilizes foreign currency forward contracts to offset the risk associated with the effects of certain foreign currency exposures, typically arising from sales contracts denominated in Canadian currency. Foreign currency forward contracts are consistent with the Company’s strategy for financial risk management. The Company utilizes cash flow hedge accounting treatment for qualifying foreign currency forward contracts. Instruments that do not Pension Benefits The Company has two 2001. Foreign Currency Transactions The functional currency of the Company, including its Mexican operations, is the United States dollar. Monetary assets and liabilities are remeasured at current exchange rates and non-monetary assets and liabilities are remeasured at historical exchange rates. Revenue and expenses related to monetary assets and liabilities are remeasured at average exchange rates and at historical exchange rates for the related revenue and expenses of non-monetary assets and liabilities. Transaction gains (losses) from foreign currency forward contracts designated as cash flow hedges are included in Accumulated other comprehensive loss as a separate component of Stockholders’ equity. For the years ended December 31, 2018, 2017, 2016, 0.4 0.2 $0.1 Revenue Recognition The Company manufactures water infrastructure steel pipe products, which are generally made to custom specifications for installation contractors serving projects funded by public water agencies. Generally, each of the Company’s contracts with its customers contains a single performance obligation, as the promise to transfer products is not not For a majority of contracts, revenue is recognized over time as the manufacturing process progresses because of the Company’s right to payment for work performed to date plus a reasonable profit on cancellations for unique products that have no four may Provisions for losses on uncompleted contracts, included in Accrued liabilities, are estimated by comparing total estimated contract revenue to the total estimated contract costs and a loss is recognized during the period in which it becomes probable and can be reasonably estimated. The Company does not See Note 16, Share-based Compensation The Company recognizes the compensation cost of employee and director services received in exchange for awards of equity instruments based on the grant date estimated fair value of the awards. Share-based compensation cost is recognized over the period during which the employee or director is required to provide service in exchange for the award and, as forfeitures occur, the associated compensation cost recognized to date is reversed. For awards with performance-based payout conditions, the Company recognizes compensation cost based on the probability of achieving the performance conditions, with changes in expectations recognized as an adjustment to earnings in the period of change. Any recognized compensation cost is reversed if the conditions are ultimately not The Company estimates the fair value of restricted stock units (“RSUs”) and performance share awards (“PSAs”) using the value of the Company’s stock on the date of grant, with the exception of market-based PSAs, for which a Monte Carlo simulation model is used. The Monte Carlo simulation model requires the use of subjective and complex assumptions including the price volatility of the underlying stock. The expected stock price volatility assumption is determined using the historical volatility of the Company’s and a comparator group of companies’ stock over the most recent historical period equivalent to the expected life. The Monte Carlo simulation model calculates many potential outcomes for an award and estimates fair value based on the most likely outcome. See Note 13, Income Taxes Income taxes are recorded using an asset and liability approach that requires the recognition of deferred income tax assets and liabilities for the expected future income tax consequences of events that have been recognized in the Company’s financial statements or income tax returns. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. The determination of the provision for income taxes requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. The provision for income taxes primarily reflects a combination of income earned and taxed in the various United States federal and state and, to a lesser extent, foreign jurisdictions. Jurisdictional tax law changes, increases or decreases in permanent differences between book and tax items, accruals or adjustments of accruals for unrecognized income tax benefits or valuation allowances, and the change in the mix of earnings from these taxing jurisdictions all affect the overall effective income tax rate. The Company records income tax reserves for federal, state, local, and international exposures relating to periods subject to audit. The development of reserves for these exposures requires judgments about tax issues, potential outcomes and timing, and is a subjective estimate. The Company assesses income tax positions and records income tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting dates. For those income tax positions where it is more-likely-than- not 50% not not no Accumulated Other Comprehensive Loss Accumulated other comprehensive loss includes unrealized gains and losses on derivative instruments related to the effective portion of cash flow hedges and changes in the funded status of the defined benefit pension plans, both net of the related income tax effect. See Note 18, Net Income ( Loss ) per Share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by giving effect to all potential shares of common stock, including stock options, RSUs, and PSAs, to the extent dilutive. Performance-based performance share awards are considered dilutive when the related performance conditions have been met assuming the end of the reporting period represents the end of the performance period. In periods with a net loss from continuing operations, all potential shares of common stock are excluded from the computation of diluted net loss per share as the impact would be antidilutive. Net income (loss) per basic and diluted weighted-average common share outstanding was calculated as follows (in thousands, except per share amounts): Year Ended December 31, 2018 2017 2016 Income (loss) from continuing operations $ 20,312 $ (8,392 ) $ (6,741 ) Loss on discontinued operations - (1,771 ) (2,522 ) Net income (loss) $ 20,312 $ (10,163 ) $ (9,263 ) Basic weighted-average common shares outstanding 9,726 9,613 9,588 Effect of potentially dilutive common shares (1) 7 - - Diluted weighted-average common shares outstanding 9,733 9,613 9,588 Income (loss) per basic common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share $ 2.09 $ (1.06 ) $ (0.97 ) Income (loss) per diluted common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share assuming dilution $ 2.09 $ (1.06 ) $ (0.97 ) ( 1 The weighted-average number of antidilutive shares not 63,000, December 31, 2018, 39,000 100%, not not December 31, 2018. not 196,000 198,000 December 31, 2017 2016, Concentrations of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of trade receivables, foreign currency forward contracts, and deferred compensation plan assets. Trade receivables generally represent a large number of customers, including municipalities, manufacturers, distributors, and contractors, dispersed across a wide geographic base. As of December 31, 2018, one 10% December 31, 2017, two 10% Recent Accounting and Reporting Developments Accounting Changes In May 2014, No. 2014 09, 606 2014 09” 2014 09 2014 09 2016 2017, 2014 09 not The Company adopted Accounting Standards Codification (“ASC”) Topic 606, 606” January 1, 2018 not not The cumulative effect of adopting Topic 606 January 1, 2018 606 December 31, 2017 Effects of Adoption of Topic 606 January 1, 2018 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 28,990 $ (420 ) $ 28,570 Costs and estimated earnings in excess of billings on uncompleted contracts 44,502 (44,502 ) - Contract assets - 42,945 42,945 Liabilities: Accrued liabilities $ 6,563 $ (783 ) $ 5,780 Billings in excess of costs and estimated earnings on uncompleted contracts 2,599 (2,599 ) - Contract liabilities - 2,537 2,537 Deferred income taxes 941 (257 ) 684 Stockholders' equity: Retained earnings $ 81,757 $ (875 ) $ 80,882 The impact of Topic 606 Year Ended December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Statement of Operations Net sales $ 172,149 $ 766 $ 172,915 Cost of sales 160,053 532 160,585 Operating loss (2,971 ) 234 (2,737 ) Income tax benefit (3,252 ) 1 (3,251 ) Net income 20,312 233 20,545 December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 34,394 $ 834 $ 35,228 Costs and estimated earnings in excess of billings on uncompleted contracts - 76,033 76,033 Contract assets 74,271 (74,271 ) - Liabilities: Accrued liabilities $ 7,547 $ 1,315 $ 8,862 Billings in excess of costs and estimated earnings on uncompleted contracts - 3,660 3,660 Contract liabilities 3,745 (3,745 ) - Deferred income taxes 68 258 326 Stockholders' equity: Retained earnings $ 101,194 $ 1,108 $ 102,302 In January 2016, No. 2016 01, 825 10 2016 01” 2016 01 February 2018, No. 2018 03, 825 10 2016 01. January 1, 2018 not In August 2016, No. 2016 15, 230 2016 15” 2016 15 eight not January 1, 2018 not In March 2017, No. 2017 07, 715 2017 07” 2017 07 January 1, 2018. $0 $0.4 December 31, 2017 2016, no no Recent Accounting Standards In February 2016, No. 2016 02, 842 2016 02” 2016 02 twelve not 2016 02 2018 2019, 2016 02 not The Company will adopt ASC Topic 842, January 1, 2019 January 1, 2019, 2019. not twelve $8.0 January 1, 2019. not 842. In August 2017, No. 2017 12, 815 2017 12” 2017 12 January 1, 2019. not In February 2018, No. 2018 02, 220 2018 02” 2017 2018 02 January 1, 2019. 2018 02 not In July 2018, No. 2018 09, 2018 09” 2018 09 January 1, 2019. not In August 2018, No. 2018 13, 820 2018 13” 2018 13 January 1, 2020, not In August 2018, No. 2018 14, 715 20 2018 14” 2018 14 January 1, 2021, not |
Note 3 - Business Combination
Note 3 - Business Combination | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3 . BUSINESS COMBINATION : On July 27, 2018, 100% $38.1 ® The following table summarizes the preliminary purchase consideration and preliminary fair value of the assets acquired and liabilities assumed as of July 27, 2018 Assets Cash and cash equivalents $ 912 Trade and other receivables 8,887 Contract assets 12,018 Inventories 7,937 Prepaid expenses and other 3,777 Property and equipment 34,827 Other assets 320 Total assets acquired 68,678 Liabilities Accounts payable 5,520 Accrued liabilities 1,599 Contract liabilities 123 Deferred income taxes 3,221 Total liabilities assumed 10,463 Bargain purchase gain (20,080 ) Total purchase consideration $ 38,135 The asset and liability fair value measurements are preliminary, primarily related to income, deferred, and foreign taxes, and are subject to change as additional information is obtained and certain tax returns are finalized. As a result of additional information obtained about facts and circumstances that existed as of the acquisition date, the Company recorded measurement period adjustments during the fourth 2018, $1.8 $2.0 not one The excess of the aggregate net fair value of assets acquired and liabilities assumed over the fair value of consideration transferred as the purchase price has been recorded as a bargain purchase gain. When it became apparent there was a potential for a bargain purchase gain, management reviewed the Ameron assets acquired and liabilities assumed as well as the assumptions utilized in estimating their fair values. Upon completion of this reassessment, the Company concluded that recording a bargain purchase gain with respect to Ameron was appropriate and required under U.S. GAAP. The Company believes the seller was motivated to complete the transaction as part of an overall repositioning of its business. The Company incurred acquisition-related costs during the year ended December 31, 2018 $2.6 Ameron operations contributed net sales of $30.2 July 27, 2018 December 31, 2018. The following unaudited pro forma summary presents the consolidated results of the Company as if the acquisition of Ameron had occurred on January 1, 2017 Year Ended December 31, 2018 2017 Net sales $ 200,513 $ 186,377 Net loss from continuing operations (15,102 ) (10,611 ) This unaudited pro forma consolidated financial data is included only for the purpose of illustration and does not January 1, 2017. not 2017 2018 January 1, 2017, 2018 no |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4 . DISCONTINUED OPERATIONS : On December 26, 2017, $37.2 $0.8 February 2018 $3.7 December 2018. In accordance with applicable accounting guidance, the financial results of the Atchison facility are presented as discontinued operations in the Consolidated Statements of Operations. Cash flows from the Company’s discontinued operations are presented separately in the Consolidated Statements of Cash Flows. As the Atchison facility was the remaining Tubular Products business, the Company now operates in only one The following table presents the operating results for the Company’s discontinued operations prior to the sale (in thousands): Year Ended December 31, 2017 2016 Net sales $ 12 $ 6,869 Cost of sales 1,792 9,777 Gross loss (1,780 ) (2,908 ) Selling, general, and administrative expense (1 ) 257 Gain on sale of facility (6 ) - Operating loss (1,773 ) (3,165 ) Other expense - (1 ) Interest expense - (14 ) Loss before income taxes (1,773 ) (3,180 ) Income tax benefit (2 ) (658 ) Net loss $ (1,771 ) $ (2,522 ) |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5 . INVENTORIES: Inventories consist of the following (in thousands): December 31, 2018 2017 Current inventories: Raw materials $ 34,426 $ 13,700 Work-in-process 2,368 1,268 Finished goods 1,075 464 Supplies 1,507 1,623 Total current inventories 39,376 17,055 Noncurrent inventories: Finished goods 65 820 Total inventories $ 39,441 $ 17,875 Noncurrent inventories are recorded in Other assets. |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6 . PROPERTY AND EQUIPMENT: Property and equipment, net consists of the following (in thousands): December 31, 2018 2017 Land and improvements $ 22,940 $ 20,185 Buildings 40,477 30,301 Machinery and equipment 112,884 100,438 Equipment under capital lease 1,683 1,171 177,984 152,095 Less accumulated depreciation and amortization (76,861 ) (74,311 ) 101,123 77,784 Construction in progress 2,324 972 Property and equipment, net $ 103,447 $ 78,756 Accumulated amortization associated with equipment under capital lease was $0.9 $0.5 December 31, 2018 2017, All property and equipment is located in the United States, except for $21.6 $3.8 December 31, 2018 2017, In December 2018, $2.7 $0.2 August 2018, $5.8 $2.8 In October 2016, $13.9 $7.9 March 1, 2017, |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 7 . INTANGIBLE ASSETS : Intangible assets, included in Other assets on the Consolidated Balance Sheets, consist of the following (in thousands): Gross Carrying Accumulated Intangible Amount Amortization Assets, Net As of December 31, 2018 Customer relationships $ 1,378 $ (689 ) $ 689 Trade names and trademarks 1,132 (377 ) 755 Backlog (1) 200 (91 ) 109 Total $ 2,710 $ (1,157 ) $ 1,553 As of December 31, 2017 Customer relationships $ 1,378 $ (551 ) $ 827 Patents 1,162 (929 ) 233 Trade names and trademarks 1,132 (302 ) 830 Other (2) 176 (163 ) 13 Total $ 3,848 $ (1,945 ) $ 1,903 ( 1 July 2018 eleven ( 2 The estimated amortization expense for each of the next five Year ending December 31, 2019 $ 322 2020 213 2021 213 2022 213 2023 213 Thereafter 379 $ 1,553 |
Note 8 - Line of Credit
Note 8 - Line of Credit | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 . LINE OF CREDIT : The Company entered into a Credit Agreement with Wells Fargo Bank, N.A. (“Credit Agreement”) on October 25, 2018, October 26, 2015, October 19, 2016 $60 $100 October 25, 2023. As of December 31, 2018, $11.5 $38.0 three 1.5% 2.0%. December 31, 2018, 4.56%. 0.25% 0.375%, The Credit Agreement contains customary representations and warranties, as well as customary affirmative and negative covenants, events of default, and indemnification provisions in favor of the lender. The negative covenants include restrictions regarding the incurrence of liens and indebtedness and certain acquisitions and dispositions of assets and other matters, all subject to certain exceptions. The Credit Agreement also requires the Company to regularly provide financial information to Wells Fargo and to maintain a specified fixed charge coverage ratio upon certain triggers. In connection with the execution and delivery of the Credit Agreement, the Company and certain of its subsidiaries also entered into a Guaranty and Security Agreement with Wells Fargo (“Guaranty and Security Agreement”). Pursuant to the Guaranty and Security Agreement, the Company’s obligations under the Credit Agreement are secured by a security interest in substantially all of the Company’s and its subsidiaries’ assets. The Agreement, which expired on October 25, 2018, $60 $100 1.75% 2.25%, 0.75% 1.25%. December 31, 2017, no Interest expense from continuing operations from line of credit borrowings and capital leases for the years ended December 31, 2018, 2017, 2016 $0.6 $0.5 $0.5 2018 2017, no 2016. |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | 9 . LEASES: Capital Lease s The Company leases certain equipment used in the manufacturing process. The Company had a total of $1.3 December 31, 2018. 5.01%. December 31, 2018 2019 $ 470 2020 375 2021 258 2022 237 2023 33 Total minimum lease payments 1,373 Amount representing interest (118 ) Present value of minimum lease payments 1,255 Current portion of capital lease obligations 416 Capital lease obligations, less current portion $ 839 Operating Leases The Company has entered into various equipment and property leases with terms of ten December 31, 2018, 2017, 2016 $2.7 $3.0 $3.0 one December 31, 2018 2019 $ 1,582 2020 1,456 2021 1,145 2022 959 2023 762 Thereafter 4,347 $ 10,251 |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10 . FAIR VALUE MEASUREMENTS: The Company records its financial assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three 1 2 3 no The following table summarizes information regarding the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of December 31, 2018 Total Level 1 Level 2 Level 3 Financial assets: Deferred compensation plan $ 4,719 $ 3,925 $ 794 $ - Foreign currency forward contracts 101 - 101 - Total financial assets $ 4,820 $ 3,925 $ 895 $ - As of December 31, 2017 Financial assets: Deferred compensation plan $ 6,244 $ 5,251 $ 993 $ - Financial liabilities: Foreign currency forward contracts $ (60 ) $ - $ (60 ) $ - The deferred compensation plan assets consist of cash and several publicly traded stock and bond mutual funds, valued using quoted market prices in active markets, classified as Level 1 2 The Company’s foreign currency forward contracts, which are derivatives accounted for as cash flow hedges, are valued using various pricing models or discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates, classified as Level 2 The net carrying amounts of cash and cash equivalents, trade and other receivables, accounts payable, accrued liabilities, and borrowings on the line of credit approximate fair value due to the short-term nature of these instruments. |
Note 11 - Derivative Instrument
Note 11 - Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 1 1 . DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES: For each foreign currency forward contract entered into in which the Company seeks to obtain cash flow hedge accounting treatment, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking the hedge transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method of measuring ineffectiveness. This process includes linking all foreign currency forward contracts to specific firm commitments or forecasted transactions and designating the foreign currency forward contracts as cash flow hedges. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the foreign currency forward contracts that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of these hedged items is reflected in Unrealized gain (loss) on cash flow hedges on the Consolidated Statements of Comprehensive Income (Loss). If it is determined that a foreign currency forward contract is not As of December 31, 2018 2017, $1.7 CAD$2.3 $2.1 CAD$2.7 All of the Company’s Canadian forward contracts have maturities less than twelve December 31, 2018. As of December 31, 2018, December 31, 2017, not $0.2 CAD$0.2 December 31, 2018, 2017, 2016, not $0.2 $0, $0, December 31, 2018, $0. twelve 18, |
Note 12 - Retirement Plans
Note 12 - Retirement Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 12 . RETIREMENT PLANS: Defined Contribution Plan The Company has a defined contribution retirement plan that covers substantially all of its employees and provides for a Company match of up to 50% first 6% 23 Defined Benefit Plans The Company has two 2001, No no As of December 31, 2018 2017, $1.7 $1.6 $1.4 December 31, 2018 2017, $6.1 $6.6 $4.4 $4.9 The net periodic benefit cost for the years ended December 31, 2018, 2017, 2016 $0, $0, $0.4 3.98% 3.36% December 31, 2018 2017, The plan assets are invested in pooled separate accounts stated at fair value based on the daily net asset value of the account and are therefore not 7.5% December 31, 2018 2017. Non-qualified Retirement Savings Plan The Company has a deferred compensation plan that covered officers and selected highly compensated employees until it was frozen in 2016. 50% first $10,000 first $5,000 December 31, 2018 2017, $4.7 $6.2 Total expense for all retirement plans for the years ended December 31, 2018, 2017, 2016 $0.9 $0.9 $1.4 |
Note 13 - Share-based Compensat
Note 13 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 13 . SHARE-BASED COMPENSATION: The Company has one 2007 one 1995 December 31, 2017. 60 ten three may The following table summarizes share-based compensation expense recorded (in thousands): Year Ended December 31, 2018 2017 2016 Cost of sales $ 12 $ 292 $ 422 Selling, general, and administrative expense 269 908 1,387 Loss from operations of discontinued operations - - (8 ) Total $ 281 $ 1,200 $ 1,801 There were 537,978 December 31, 2018. Stock Options Awards A summary of option activity under the Company’s stock option plans is presented below: Options Outstanding Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in years) (in thousands) Balance, December 31, 2017 24,000 $ 24.15 Options granted - - Options exercised - - Options canceled - - Balance, December 31, 2018 24,000 24.15 Exercisable, December 31, 2018 24,000 24.15 1.24 $ - There were no December 31, 2018, 2017, 2016. Restricted Stock Units and Performance Share Awards The Company estimates the fair value of RSUs and PSAs using the value of the Company’s stock on the date of grant, with the exception of market-based PSAs, for which a Monte Carlo simulation model is used. A summary of activity under the Company’s RSUs and PSAs is presented below: Number of RSUs and PSAs (1) Weighted- Average Grant Date Fair Value Unvested RSUs as of December 31, 2017 169,583 $ 9.50 PSAs granted 43,077 19.97 Unvested PSAs canceled (3,085 ) 19.97 RSUs vested (169,583 ) 9.50 Unvested PSAs as of December 31, 2018 39,992 19.97 ( 1 The number of shares disclosed in this table are at the target level of 100%. The unvested balance of PSAs as of December 31, 2018 0% 200%. December 31, 2018, December 31, 2018 $0. The weighted-average grant date fair value of PSAs granted during the year ended December 31, 2018 $19.97, December 31, 2016 $9.50. no December 31, 2018 2017 no December 31, 2017 2016. December 31, 2018, 2017, 2016 $1.6 $0.1 $0.1 Stock Awards For the years ended December 31, 2018, 2017, 2016, 11,172 14,944 27,640 $21.48 2018, $14.72 2017, $9.95 2016. |
Note 14 - Shareholder Rights Pl
Note 14 - Shareholder Rights Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Shareholder Rights Plan Disclosure [Text Block] | 14 . SHAREHOLDER RIGHTS PLAN: In June 1999, 150,000 one July 9, 1999. one one $83.00, 15% two may $0.01 On June 18, 2009, June 28, 1999 June 28, 2009 June 28, 2019. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15 . COMMITMENTS AND CONTINGENCIES: Portland Harbor Superfund Site In December 2000, not 14 February 2016, June 2016, January 2017, $1 13 not 150 no In 2001, one February 2005, 2016, 2019; Concurrent with the activities of the EPA and the ODEQ, the Portland Harbor Natural Resources Trustee Council (“Trustees”) sent some or all of the same parties, including the Company, a notice of intent to perform a Natural Resource Damage Assessment (“NRDA”) for the Portland Harbor Superfund Site to determine the nature and extent of natural resource damages under CERCLA Section 107. three one June 2014, $0.4 not may In January 2017, 2009, not The Company has insurance policies for defense costs, as well as indemnification policies it believes will provide reimbursement for any share of the remediation assessed. However, the Company can provide no may All Sites The Company operates its facilities under numerous governmental permits and licenses relating to air emissions, stormwater runoff, and other environmental matters. The Company’s operations are also governed by many other laws and regulations, including those relating to workplace safety and worker health, principally the Occupational Safety and Health Act and regulations there under which, among other requirements, establish noise and dust standards. The Company believes it is in material compliance with its permits and licenses and these laws and regulations, and the Company does not Other Contingencies and Legal Proceedings From time to time, the Company is involved in litigation relating to claims arising out of its operations in the normal course of its business. The Company maintains insurance coverage against potential claims in amounts that are believed to be adequate. To the extent that insurance does not not Guarantees The Company has entered into certain letters of credit that total $1.6 December 31, 2018. |
Note 16 - Revenue
Note 16 - Revenue | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 1 6 . REVENUE : Net sales from continuing operations by geographic region, based on the location of the customer, were as follows (in thousands): Year Ended December 31, 2018 2017 2016 Net sales from continuing operations by geographic region: United States $ 161,415 $ 122,179 $ 137,411 Canada 10,734 10,601 11,976 Total $ 172,149 $ 132,780 $ 149,387 No 10% December 31, 2018 2017. One 28% December 31, 2016. Revisions in contract estimates resulted in an increase (decrease) in revenue of $( 0.2 0.2 $1.7 December 31, 2018, 2017, 2016, Contract Assets and Liabilities The difference between the opening and closing balances of the Company’s Contract assets and Contract liabilities primarily results from the timing difference between the Company’s performance and billings, and an increase due to the acquisition of Ameron of $12.0 $0.1 December 31, 2018, 2017, 2016 not Revenue recognized that was included in the Contract liabilities balance at the beginning of each period was $2.6 $1.9 $0.5 December 31, 2018, 2017, 2016, Backlog Backlog represents the balance of remaining performance obligations under signed contracts. As of December 31, 2018, $81.3 83% 2019 13% 2020 |
Note 17 - Income Taxes
Note 17 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 17 . INCOME TAXES : The United States and foreign components of Income (loss) from continuing operations before income taxes are as follows (in thousands): Year Ended December 31, 2018 2017 2016 United States $ 16,207 $ (9,634 ) $ (10,959 ) Foreign 853 142 120 Total $ 17,060 $ (9,492 ) $ (10,839 ) The components of Income tax benefit from continuing operations are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Current: Federal $ (117 ) $ (466 ) $ (844 ) State 99 49 (102 ) Foreign 395 12 104 Total current income tax expense (benefit) 377 (405 ) (842 ) Deferred: Federal (2,954 ) (766 ) (2,883 ) State (807 ) 71 (373 ) Foreign 132 - - Total deferred income tax benefit (3,629 ) (695 ) (3,256 ) $ (3,252 ) $ (1,100 ) $ (4,098 ) On December 22, 2017, 2017 not 35% 21% December 31, 2017, one December 31, 2017. $0.9 fourth 2017, $0.6 $0.2 No. 118 118" not December 22, 2018 118. not 2017. The difference between the Company’s effective income tax rate and the federal statutory income tax rate is explained as follows (dollar amounts in thousands): Year Ended December 31, 2018 2017 2016 Income tax expense (benefit) at federal statutory rate $ 3,583 $ (3,322 ) $ (3,755 ) State benefit, net of federal income tax effect (218 ) (472 ) (286 ) Federal and state income tax credits (7 ) 36 (154 ) Change in valuation allowance (2,618 ) 1,570 585 Tax windfall on share-based compensation (369 ) - - Excess income tax shortfall on share-based compensation - 765 - Bargain purchase gain (4,228 ) - - Effect of Tax Cuts and Jobs Act of 2017 - 874 - Uncertain income tax positions - (562 ) (4 ) Nondeductible expenses 427 63 63 Foreign rate differential 77 - - Nontaxable adjustment to contingent consideration - - (580 ) Other 101 (52 ) 33 Income tax benefit $ (3,252 ) $ (1,100 ) $ (4,098 ) Effective income tax rate (19.1 )% (11.6 )% (37.8 )% The income tax effect of temporary differences that give rise to significant portions of deferred income tax assets and liabilities is presented below (in thousands): December 31, 2018 2017 Deferred income tax assets: Contract assets, net $ 425 $ - Accrued employee benefits 2,157 2,806 Inventories 347 296 Trade receivable, net 1,040 105 Net operating loss carryforwards 12,867 9,850 Tax credit carryforwards 5,181 5,478 Other assets - 1,201 Other 226 81 22,243 19,817 Valuation allowance (9,433 ) (10,413 ) 12,810 9,404 Deferred income tax liabilities: Contract assets, net - (110 ) Property and equipment (11,984 ) (9,524 ) Intangible assets (310 ) (433 ) Prepaid expenses (470 ) (278 ) (12,764 ) (10,345 ) Net deferred income tax assets (liabilities) $ 46 $ (941 ) Amounts are presented in the Consolidated Balance Sheets as follows: Deferred income tax assets, included in Other assets $ 114 $ - Deferred income taxes (68 ) (941 ) Net deferred income tax assets (liabilities) $ 46 $ (941 ) In assessing the ability to realize deferred income tax assets, management considers whether it is more likely than not not not not December 31, 2018, As of December 31, 2018, $45.4 $36.3 2035 2036 $9.1 $2.9 2023 2038. December 31, 2018, $56.7 2019 2037, $4.2 2019. December 31, 2018, $1.6 2023 2028. During the year ended December 31, 2016, no not The Company files income tax returns in the United States Federal jurisdiction, in a limited number of foreign jurisdictions, and in many state jurisdictions. With few exceptions, the Company is no 2014. A summary of the changes in the unrecognized income tax benefits is presented below (in thousands): Year Ended December 31, 2018 2017 2016 Unrecognized income tax benefits, beginning of year $ 4,116 $ 4,874 $ 4,874 Decreases for lapse in statute of limitations - (520 ) - Decreases for positions taken in prior years - (238 ) - Increases for positions taken in the current year 234 - - Unrecognized income tax benefits, end of year $ 4,350 $ 4,116 $ 4,874 The Company does not twelve The Company recognizes interest and penalties related to uncertain income tax positions in Income tax benefit from continuing operations. As of December 31, 2018 2017, no not 2018, 2017, 2016. |
Note 18 - Accumulated Other Com
Note 18 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 18 . ACCUMULATED OTHER COMPREHENSIVE LOSS : Accumulated other comprehensive loss consists of the following (in thousands): December 31, 2018 2017 Pension liability adjustment, net of income tax benefit of $911 and $866 $ (1,551 ) $ (1,436 ) Unrealized gain (loss) on cash flow hedges, net of income tax expense (benefit) of $8 and $(1) 15 (9 ) Total $ (1,536 ) $ (1,445 ) The following table summarizes changes in the components of Accumulated other comprehensive loss (in thousands). All amounts are net of income tax: Pension Liability Adjustment Unrealized Gain (Loss) on Cash Flow Hedges Total Balance, December 31, 2017 $ (1,436 ) $ (9 ) $ (1,445 ) Other comprehensive income (loss) before reclassifications (66 ) 36 (30 ) Amounts reclassified from Accumulated other comprehensive loss (49 ) (12 ) (61 ) Net current period adjustments to Other comprehensive income (loss) (115 ) 24 (91 ) Balance, December 31, 2018 $ (1,551 ) $ 15 $ (1,536 ) The following table provides additional detail about Accumulated other comprehensive loss components that were reclassified to the Consolidated Statements of Operations (in thousands): Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Details about Accumulated Other Year Ended December 31, Consolidated Statements Comprehensive Loss Components 2018 2017 2016 of Operations Pension liability adjustment: Net periodic pension cost: Service cost $ (11 ) $ (11 ) $ (11 ) Cost of sales Non-service cost 52 8 (381 ) Other income (expense) Associated income tax benefit 8 - 136 Income tax benefit 49 (3 ) (256 ) Net of tax Unrealized gain on cash flow hedges: Gain on cash flow hedges 13 5 45 Net sales Associated income tax expense (1 ) (2 ) (17 ) Income tax benefit 12 3 28 Net of tax Total reclassifications for the period $ 61 $ - $ (228 ) |
Note 19 - Restructuring
Note 19 - Restructuring | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 19 . RESTRUCTURING : In March 2018, ® ® second 2018. March 2018, second 2018, December 2018. $1.4 December 31, 2018, $0.6 $0.8 In October 2016, March 1, 2017 $0.9 $1.0 December 31, 2017 2016, $0 $0.5 $0.9 $0.5 first 2017. |
Note 20 - Quarterly Data (Unaud
Note 20 - Quarterly Data (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 20 . QUARTERLY DATA (UNAUDITED): Summarized quarterly financial data, adjusted for discontinued operations and adoption of ASU 2017 07, First Quarter Second Quarter Third Quarter Fourth Quarter Total For the Year Ended December 31, 2018 Net sales $ 33,365 $ 28,785 $ 52,455 $ 57,544 $ 172,149 Gross profit (loss) 1,348 (1,238 ) 5,203 6,783 12,096 Operating income (loss) (1) (2,342 ) (5,827 ) 2,497 2,701 (2,971 ) Net income (loss) (2) (1,951 ) (5,686 ) 27,801 148 20,312 Income (loss) per share: Basic $ (0.20 ) $ (0.59 ) $ 2.86 $ 0.02 $ 2.09 Diluted $ (0.20 ) $ (0.59 ) $ 2.86 $ 0.02 $ 2.09 First Quarter Second Quarter Third Quarter Fourth Quarter Total For the Year Ended December 31, 2017 Net sales $ 29,657 $ 28,692 $ 38,804 $ 35,627 $ 132,780 Gross profit (3) 1,243 746 1,993 1,833 5,815 Operating loss (3,478 ) (2,826 ) (1,430 ) (1,475 ) (9,209 ) Loss from continuing operations (3,542 ) (1,421 ) (1,587 ) (1,842 ) (8,392 ) Loss on discontinued operations (326 ) (647 ) (482 ) (316 ) (1,771 ) Net loss (3,868 ) (2,068 ) (2,069 ) (2,158 ) (10,163 ) Basic and diluted loss per share: Continuing operations $ (0.37 ) $ (0.15 ) $ (0.16 ) $ (0.20 ) $ (0.88 ) Discontinued operations (0.03 ) (0.07 ) (0.05 ) (0.03 ) (0.18 ) Net loss per share $ (0.40 ) $ (0.22 ) $ (0.21 ) $ (0.23 ) $ (1.06 ) ( 1 Operating income for the third 2018 $2.8 fourth 2018 $0.2 ( 2 Net income for the third 2018 $21.9 fourth 2018 $1.8 ( 3 Gross profit for the fourth 2017 $1.2 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II VALUATION AND QUALIFYING ACCOUNTS (Dollars in thousands) Balance at Beginning of Period Charged to Profit and Loss Deduction from Reserves Balance at End of Period Year Ended December 31, 2018: Allowance for doubtful accounts $ 477 $ 449 $ (266 ) $ 660 Valuation allowance for deferred income tax assets 10,413 1,785 (2,765 ) 9,433 Year Ended December 31, 2017: Allowance for doubtful accounts $ 515 $ 637 $ (675 ) $ 477 Valuation allowance for deferred income tax assets 8,217 2,196 - 10,413 Year Ended December 31, 2016: Allowance for doubtful accounts $ 751 (1) $ 295 $ (531 ) $ 515 Valuation allowance for deferred income tax assets 7,057 1,160 - 8,217 ( 1 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. On an ongoing basis, the Company evaluates all of its estimates, including those related to allowance for doubtful accounts, inventories, long-lived assets (including depreciation and amortization), revenue recognition, share-based compensation, income taxes, and litigation and other contingencies. Actual results may |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Northwest Pipe Company and its subsidiaries over which the Company exercises control as of the financial statement date. Intercompany accounts and transactions have been eliminated. |
Business Combinations Policy [Policy Text Block] | Business Combinations Business combinations are accounted for under the acquisition method which requires identifiable assets acquired and liabilities assumed in the business acquired be recognized and measured at fair value on the acquisition date, which is the date that the acquirer obtains control of the acquired business. The amount by which the fair value of consideration transferred as the purchase price exceeds the net fair value of assets acquired and liabilities assumed is recorded as goodwill. The amount by which the net fair value of assets acquired and liabilities assumed exceeds the fair value of consideration transferred as the purchase price is recorded as a bargain purchase gain. Acquisition-related costs are expensed as incurred. These estimates are inherently uncertain and unpredictable. In addition, unanticipated events and circumstances may may may one may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of cash and short-term, highly-liquid investments with maturities of three no December 31, 2018 2017. |
Receivables, Policy [Policy Text Block] | Receivables and Allowance for Doubtful Accounts Trade receivables are reported on the Consolidated Balance Sheet net of doubtful accounts. The Company maintains allowances for estimated losses resulting from the inability of its customers to make required payments or from contract disputes. The amounts of such allowances are based on historical experience and management’s judgment. The Company will write down or write off a receivable account once the account is deemed uncollectible. If the customers’ financial conditions were to deteriorate resulting in their inability to make payments, or if contract disputes were to escalate, additional allowances may |
Contract Assets and Liabilities, Policy [Policy Text Block] | Contract Assets and Liabilities Contract assets primarily represent revenue earned over time but not 30 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost and net realizable value. The cost of raw material inventories of steel is either on a specific identification basis or on an average cost basis. The cost of all other raw material inventories, as well as work-in-process and supplies, is on an average cost basis. The cost of finished goods uses the first first |
Property, Plant and Equipment, Impairment [Policy Text Block] | Property and Equipment Property and equipment are recorded at cost. Maintenance and repairs are expensed as incurred, and costs of new equipment and buildings, as well as costs of expansions or refurbishment of existing equipment and buildings, including interest where applicable, are capitalized. Depreciation and amortization are determined by the units of production method for most equipment and by the straight-line method for the remaining assets based on the estimated useful lives of the related assets. Estimated useful lives by major classes of property and equipment are as follows: Land improvements ( 15 30 20 40 3 30 may The Company assesses impairment of property and equipment whenever changes in circumstances indicate that the carrying values of the asset or asset group(s) may not |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist primarily of customer relationships and trade names and trademarks recorded as the result of acquisition activity. Intangible assets are amortized using the straight-line method over estimated useful lives ranging from eleven 15 7, |
Workers Compensation Insurance [Policy Text Block] | Workers Compensation The Company is self-insured, or maintains high deductible policies, for losses and liabilities associated with workers compensation claims. Losses are accrued based upon the Company’s estimates of the aggregate liability for claims incurred using historical experience and certain actuarial assumptions followed in the insurance industry. As of December 31, 2018 2017, $2.7 $3.7 $0.5 $0.4 $2.2 $3.3 |
Accrued Liabilities [Policy Text Block] | Accrued Liabilities Accrued liabilities consist of the following (in thousands): December 31, 2018 2017 Accrued liabilities: Accrued vacation payable $ 2,211 $ 1,886 Accrued sales tax 1,753 550 Accrued property taxes 600 898 Workers compensation reserves 452 422 Provision for losses on uncompleted contracts 85 911 Other 2,446 1,896 Total accrued liabilities $ 7,547 $ 6,563 |
Derivatives, Policy [Policy Text Block] | Derivative Instruments The Company conducts business in various foreign countries and, from time to time, settles transactions in foreign currencies. The Company has established a program that utilizes foreign currency forward contracts to offset the risk associated with the effects of certain foreign currency exposures, typically arising from sales contracts denominated in Canadian currency. Foreign currency forward contracts are consistent with the Company’s strategy for financial risk management. The Company utilizes cash flow hedge accounting treatment for qualifying foreign currency forward contracts. Instruments that do not |
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | Pension Benefits The Company has two 2001. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Transactions The functional currency of the Company, including its Mexican operations, is the United States dollar. Monetary assets and liabilities are remeasured at current exchange rates and non-monetary assets and liabilities are remeasured at historical exchange rates. Revenue and expenses related to monetary assets and liabilities are remeasured at average exchange rates and at historical exchange rates for the related revenue and expenses of non-monetary assets and liabilities. Transaction gains (losses) from foreign currency forward contracts designated as cash flow hedges are included in Accumulated other comprehensive loss as a separate component of Stockholders’ equity. For the years ended December 31, 2018, 2017, 2016, 0.4 0.2 $0.1 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company manufactures water infrastructure steel pipe products, which are generally made to custom specifications for installation contractors serving projects funded by public water agencies. Generally, each of the Company’s contracts with its customers contains a single performance obligation, as the promise to transfer products is not not For a majority of contracts, revenue is recognized over time as the manufacturing process progresses because of the Company’s right to payment for work performed to date plus a reasonable profit on cancellations for unique products that have no four may Provisions for losses on uncompleted contracts, included in Accrued liabilities, are estimated by comparing total estimated contract revenue to the total estimated contract costs and a loss is recognized during the period in which it becomes probable and can be reasonably estimated. The Company does not See Note 16, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-based Compensation The Company recognizes the compensation cost of employee and director services received in exchange for awards of equity instruments based on the grant date estimated fair value of the awards. Share-based compensation cost is recognized over the period during which the employee or director is required to provide service in exchange for the award and, as forfeitures occur, the associated compensation cost recognized to date is reversed. For awards with performance-based payout conditions, the Company recognizes compensation cost based on the probability of achieving the performance conditions, with changes in expectations recognized as an adjustment to earnings in the period of change. Any recognized compensation cost is reversed if the conditions are ultimately not The Company estimates the fair value of restricted stock units (“RSUs”) and performance share awards (“PSAs”) using the value of the Company’s stock on the date of grant, with the exception of market-based PSAs, for which a Monte Carlo simulation model is used. The Monte Carlo simulation model requires the use of subjective and complex assumptions including the price volatility of the underlying stock. The expected stock price volatility assumption is determined using the historical volatility of the Company’s and a comparator group of companies’ stock over the most recent historical period equivalent to the expected life. The Monte Carlo simulation model calculates many potential outcomes for an award and estimates fair value based on the most likely outcome. See Note 13, |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are recorded using an asset and liability approach that requires the recognition of deferred income tax assets and liabilities for the expected future income tax consequences of events that have been recognized in the Company’s financial statements or income tax returns. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. The determination of the provision for income taxes requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. The provision for income taxes primarily reflects a combination of income earned and taxed in the various United States federal and state and, to a lesser extent, foreign jurisdictions. Jurisdictional tax law changes, increases or decreases in permanent differences between book and tax items, accruals or adjustments of accruals for unrecognized income tax benefits or valuation allowances, and the change in the mix of earnings from these taxing jurisdictions all affect the overall effective income tax rate. The Company records income tax reserves for federal, state, local, and international exposures relating to periods subject to audit. The development of reserves for these exposures requires judgments about tax issues, potential outcomes and timing, and is a subjective estimate. The Company assesses income tax positions and records income tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting dates. For those income tax positions where it is more-likely-than- not 50% not not no |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Loss Accumulated other comprehensive loss includes unrealized gains and losses on derivative instruments related to the effective portion of cash flow hedges and changes in the funded status of the defined benefit pension plans, both net of the related income tax effect. See Note 18, |
Earnings Per Share, Policy [Policy Text Block] | Net Income ( Loss ) per Share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by giving effect to all potential shares of common stock, including stock options, RSUs, and PSAs, to the extent dilutive. Performance-based performance share awards are considered dilutive when the related performance conditions have been met assuming the end of the reporting period represents the end of the performance period. In periods with a net loss from continuing operations, all potential shares of common stock are excluded from the computation of diluted net loss per share as the impact would be antidilutive. Net income (loss) per basic and diluted weighted-average common share outstanding was calculated as follows (in thousands, except per share amounts): Year Ended December 31, 2018 2017 2016 Income (loss) from continuing operations $ 20,312 $ (8,392 ) $ (6,741 ) Loss on discontinued operations - (1,771 ) (2,522 ) Net income (loss) $ 20,312 $ (10,163 ) $ (9,263 ) Basic weighted-average common shares outstanding 9,726 9,613 9,588 Effect of potentially dilutive common shares (1) 7 - - Diluted weighted-average common shares outstanding 9,733 9,613 9,588 Income (loss) per basic common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share $ 2.09 $ (1.06 ) $ (0.97 ) Income (loss) per diluted common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share assuming dilution $ 2.09 $ (1.06 ) $ (0.97 ) ( 1 The weighted-average number of antidilutive shares not 63,000, December 31, 2018, 39,000 100%, not not December 31, 2018. not 196,000 198,000 December 31, 2017 2016, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of trade receivables, foreign currency forward contracts, and deferred compensation plan assets. Trade receivables generally represent a large number of customers, including municipalities, manufacturers, distributors, and contractors, dispersed across a wide geographic base. As of December 31, 2018, one 10% December 31, 2017, two 10% |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting and Reporting Developments Accounting Changes In May 2014, No. 2014 09, 606 2014 09” 2014 09 2014 09 2016 2017, 2014 09 not The Company adopted Accounting Standards Codification (“ASC”) Topic 606, 606” January 1, 2018 not not The cumulative effect of adopting Topic 606 January 1, 2018 606 December 31, 2017 Effects of Adoption of Topic 606 January 1, 2018 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 28,990 $ (420 ) $ 28,570 Costs and estimated earnings in excess of billings on uncompleted contracts 44,502 (44,502 ) - Contract assets - 42,945 42,945 Liabilities: Accrued liabilities $ 6,563 $ (783 ) $ 5,780 Billings in excess of costs and estimated earnings on uncompleted contracts 2,599 (2,599 ) - Contract liabilities - 2,537 2,537 Deferred income taxes 941 (257 ) 684 Stockholders' equity: Retained earnings $ 81,757 $ (875 ) $ 80,882 The impact of Topic 606 Year Ended December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Statement of Operations Net sales $ 172,149 $ 766 $ 172,915 Cost of sales 160,053 532 160,585 Operating loss (2,971 ) 234 (2,737 ) Income tax benefit (3,252 ) 1 (3,251 ) Net income 20,312 233 20,545 December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 34,394 $ 834 $ 35,228 Costs and estimated earnings in excess of billings on uncompleted contracts - 76,033 76,033 Contract assets 74,271 (74,271 ) - Liabilities: Accrued liabilities $ 7,547 $ 1,315 $ 8,862 Billings in excess of costs and estimated earnings on uncompleted contracts - 3,660 3,660 Contract liabilities 3,745 (3,745 ) - Deferred income taxes 68 258 326 Stockholders' equity: Retained earnings $ 101,194 $ 1,108 $ 102,302 In January 2016, No. 2016 01, 825 10 2016 01” 2016 01 February 2018, No. 2018 03, 825 10 2016 01. January 1, 2018 not In August 2016, No. 2016 15, 230 2016 15” 2016 15 eight not January 1, 2018 not In March 2017, No. 2017 07, 715 2017 07” 2017 07 January 1, 2018. $0 $0.4 December 31, 2017 2016, no no Recent Accounting Standards In February 2016, No. 2016 02, 842 2016 02” 2016 02 twelve not 2016 02 2018 2019, 2016 02 not The Company will adopt ASC Topic 842, January 1, 2019 January 1, 2019, 2019. not twelve $8.0 January 1, 2019. not 842. In August 2017, No. 2017 12, 815 2017 12” 2017 12 January 1, 2019. not In February 2018, No. 2018 02, 220 2018 02” 2017 2018 02 January 1, 2019. 2018 02 not In July 2018, No. 2018 09, 2018 09” 2018 09 January 1, 2019. not In August 2018, No. 2018 13, 820 2018 13” 2018 13 January 1, 2020, not In August 2018, No. 2018 14, 715 20 2018 14” 2018 14 January 1, 2021, not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2018 2017 Accrued liabilities: Accrued vacation payable $ 2,211 $ 1,886 Accrued sales tax 1,753 550 Accrued property taxes 600 898 Workers compensation reserves 452 422 Provision for losses on uncompleted contracts 85 911 Other 2,446 1,896 Total accrued liabilities $ 7,547 $ 6,563 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2018 2017 2016 Income (loss) from continuing operations $ 20,312 $ (8,392 ) $ (6,741 ) Loss on discontinued operations - (1,771 ) (2,522 ) Net income (loss) $ 20,312 $ (10,163 ) $ (9,263 ) Basic weighted-average common shares outstanding 9,726 9,613 9,588 Effect of potentially dilutive common shares (1) 7 - - Diluted weighted-average common shares outstanding 9,733 9,613 9,588 Income (loss) per basic common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share $ 2.09 $ (1.06 ) $ (0.97 ) Income (loss) per diluted common share: Continuing operations $ 2.09 $ (0.88 ) $ (0.71 ) Discontinued operations - (0.18 ) (0.26 ) Net income (loss) per share assuming dilution $ 2.09 $ (1.06 ) $ (0.97 ) |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | December 31, 2017 Effects of Adoption of Topic 606 January 1, 2018 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 28,990 $ (420 ) $ 28,570 Costs and estimated earnings in excess of billings on uncompleted contracts 44,502 (44,502 ) - Contract assets - 42,945 42,945 Liabilities: Accrued liabilities $ 6,563 $ (783 ) $ 5,780 Billings in excess of costs and estimated earnings on uncompleted contracts 2,599 (2,599 ) - Contract liabilities - 2,537 2,537 Deferred income taxes 941 (257 ) 684 Stockholders' equity: Retained earnings $ 81,757 $ (875 ) $ 80,882 Year Ended December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Statement of Operations Net sales $ 172,149 $ 766 $ 172,915 Cost of sales 160,053 532 160,585 Operating loss (2,971 ) 234 (2,737 ) Income tax benefit (3,252 ) 1 (3,251 ) Net income 20,312 233 20,545 December 31, 2018 As Reported Adjustments Balance Without Adjustment for Adoption of Topic 606 Consolidated Balance Sheet Assets: Trade and other receivables, net $ 34,394 $ 834 $ 35,228 Costs and estimated earnings in excess of billings on uncompleted contracts - 76,033 76,033 Contract assets 74,271 (74,271 ) - Liabilities: Accrued liabilities $ 7,547 $ 1,315 $ 8,862 Billings in excess of costs and estimated earnings on uncompleted contracts - 3,660 3,660 Contract liabilities 3,745 (3,745 ) - Deferred income taxes 68 258 326 Stockholders' equity: Retained earnings $ 101,194 $ 1,108 $ 102,302 |
Note 3 - Business Combination (
Note 3 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Assets Cash and cash equivalents $ 912 Trade and other receivables 8,887 Contract assets 12,018 Inventories 7,937 Prepaid expenses and other 3,777 Property and equipment 34,827 Other assets 320 Total assets acquired 68,678 Liabilities Accounts payable 5,520 Accrued liabilities 1,599 Contract liabilities 123 Deferred income taxes 3,221 Total liabilities assumed 10,463 Bargain purchase gain (20,080 ) Total purchase consideration $ 38,135 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, 2018 2017 Net sales $ 200,513 $ 186,377 Net loss from continuing operations (15,102 ) (10,611 ) |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures [Table Text Block] | Year Ended December 31, 2017 2016 Net sales $ 12 $ 6,869 Cost of sales 1,792 9,777 Gross loss (1,780 ) (2,908 ) Selling, general, and administrative expense (1 ) 257 Gain on sale of facility (6 ) - Operating loss (1,773 ) (3,165 ) Other expense - (1 ) Interest expense - (14 ) Loss before income taxes (1,773 ) (3,180 ) Income tax benefit (2 ) (658 ) Net loss $ (1,771 ) $ (2,522 ) |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule Of Inventory Current And Non Current [Table Text Block] | December 31, 2018 2017 Current inventories: Raw materials $ 34,426 $ 13,700 Work-in-process 2,368 1,268 Finished goods 1,075 464 Supplies 1,507 1,623 Total current inventories 39,376 17,055 Noncurrent inventories: Finished goods 65 820 Total inventories $ 39,441 $ 17,875 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 2017 Land and improvements $ 22,940 $ 20,185 Buildings 40,477 30,301 Machinery and equipment 112,884 100,438 Equipment under capital lease 1,683 1,171 177,984 152,095 Less accumulated depreciation and amortization (76,861 ) (74,311 ) 101,123 77,784 Construction in progress 2,324 972 Property and equipment, net $ 103,447 $ 78,756 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Gross Carrying Accumulated Intangible Amount Amortization Assets, Net As of December 31, 2018 Customer relationships $ 1,378 $ (689 ) $ 689 Trade names and trademarks 1,132 (377 ) 755 Backlog (1) 200 (91 ) 109 Total $ 2,710 $ (1,157 ) $ 1,553 As of December 31, 2017 Customer relationships $ 1,378 $ (551 ) $ 827 Patents 1,162 (929 ) 233 Trade names and trademarks 1,132 (302 ) 830 Other (2) 176 (163 ) 13 Total $ 3,848 $ (1,945 ) $ 1,903 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, 2019 $ 322 2020 213 2021 213 2022 213 2023 213 Thereafter 379 $ 1,553 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | 2019 $ 470 2020 375 2021 258 2022 237 2023 33 Total minimum lease payments 1,373 Amount representing interest (118 ) Present value of minimum lease payments 1,255 Current portion of capital lease obligations 416 Capital lease obligations, less current portion $ 839 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2019 $ 1,582 2020 1,456 2021 1,145 2022 959 2023 762 Thereafter 4,347 $ 10,251 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of December 31, 2018 Total Level 1 Level 2 Level 3 Financial assets: Deferred compensation plan $ 4,719 $ 3,925 $ 794 $ - Foreign currency forward contracts 101 - 101 - Total financial assets $ 4,820 $ 3,925 $ 895 $ - As of December 31, 2017 Financial assets: Deferred compensation plan $ 6,244 $ 5,251 $ 993 $ - Financial liabilities: Foreign currency forward contracts $ (60 ) $ - $ (60 ) $ - |
Note 13 - Share-based Compens_2
Note 13 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Year Ended December 31, 2018 2017 2016 Cost of sales $ 12 $ 292 $ 422 Selling, general, and administrative expense 269 908 1,387 Loss from operations of discontinued operations - - (8 ) Total $ 281 $ 1,200 $ 1,801 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in years) (in thousands) Balance, December 31, 2017 24,000 $ 24.15 Options granted - - Options exercised - - Options canceled - - Balance, December 31, 2018 24,000 24.15 Exercisable, December 31, 2018 24,000 24.15 1.24 $ - |
Schedule of Unvested Restricted Stock Units and Performance Share Awards Activity [Table Text Block] | Number of RSUs and PSAs (1) Weighted- Average Grant Date Fair Value Unvested RSUs as of December 31, 2017 169,583 $ 9.50 PSAs granted 43,077 19.97 Unvested PSAs canceled (3,085 ) 19.97 RSUs vested (169,583 ) 9.50 Unvested PSAs as of December 31, 2018 39,992 19.97 |
Note 16 - Revenue (Tables)
Note 16 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended December 31, 2018 2017 2016 Net sales from continuing operations by geographic region: United States $ 161,415 $ 122,179 $ 137,411 Canada 10,734 10,601 11,976 Total $ 172,149 $ 132,780 $ 149,387 |
Note 17 - Income Taxes (Tables)
Note 17 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2018 2017 2016 United States $ 16,207 $ (9,634 ) $ (10,959 ) Foreign 853 142 120 Total $ 17,060 $ (9,492 ) $ (10,839 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2018 2017 2016 Current: Federal $ (117 ) $ (466 ) $ (844 ) State 99 49 (102 ) Foreign 395 12 104 Total current income tax expense (benefit) 377 (405 ) (842 ) Deferred: Federal (2,954 ) (766 ) (2,883 ) State (807 ) 71 (373 ) Foreign 132 - - Total deferred income tax benefit (3,629 ) (695 ) (3,256 ) $ (3,252 ) $ (1,100 ) $ (4,098 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2018 2017 2016 Income tax expense (benefit) at federal statutory rate $ 3,583 $ (3,322 ) $ (3,755 ) State benefit, net of federal income tax effect (218 ) (472 ) (286 ) Federal and state income tax credits (7 ) 36 (154 ) Change in valuation allowance (2,618 ) 1,570 585 Tax windfall on share-based compensation (369 ) - - Excess income tax shortfall on share-based compensation - 765 - Bargain purchase gain (4,228 ) - - Effect of Tax Cuts and Jobs Act of 2017 - 874 - Uncertain income tax positions - (562 ) (4 ) Nondeductible expenses 427 63 63 Foreign rate differential 77 - - Nontaxable adjustment to contingent consideration - - (580 ) Other 101 (52 ) 33 Income tax benefit $ (3,252 ) $ (1,100 ) $ (4,098 ) Effective income tax rate (19.1 )% (11.6 )% (37.8 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2018 2017 Deferred income tax assets: Contract assets, net $ 425 $ - Accrued employee benefits 2,157 2,806 Inventories 347 296 Trade receivable, net 1,040 105 Net operating loss carryforwards 12,867 9,850 Tax credit carryforwards 5,181 5,478 Other assets - 1,201 Other 226 81 22,243 19,817 Valuation allowance (9,433 ) (10,413 ) 12,810 9,404 Deferred income tax liabilities: Contract assets, net - (110 ) Property and equipment (11,984 ) (9,524 ) Intangible assets (310 ) (433 ) Prepaid expenses (470 ) (278 ) (12,764 ) (10,345 ) Net deferred income tax assets (liabilities) $ 46 $ (941 ) Amounts are presented in the Consolidated Balance Sheets as follows: Deferred income tax assets, included in Other assets $ 114 $ - Deferred income taxes (68 ) (941 ) Net deferred income tax assets (liabilities) $ 46 $ (941 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year Ended December 31, 2018 2017 2016 Unrecognized income tax benefits, beginning of year $ 4,116 $ 4,874 $ 4,874 Decreases for lapse in statute of limitations - (520 ) - Decreases for positions taken in prior years - (238 ) - Increases for positions taken in the current year 234 - - Unrecognized income tax benefits, end of year $ 4,350 $ 4,116 $ 4,874 |
Note 18 - Accumulated Other C_2
Note 18 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | December 31, 2018 2017 Pension liability adjustment, net of income tax benefit of $911 and $866 $ (1,551 ) $ (1,436 ) Unrealized gain (loss) on cash flow hedges, net of income tax expense (benefit) of $8 and $(1) 15 (9 ) Total $ (1,536 ) $ (1,445 ) |
Schedule of Changes in Accumulated Other Comprehensive Income Loss [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Pension Liability </div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustment</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized Gain</div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Loss) on Cash </div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Flow Hedges</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance, December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,436</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,445</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Other comprehensive income (loss) before reclassifications</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(66</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Amounts reclassified from Accumulated other comprehensive loss</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net current period adjustments to Other comprehensive income (loss)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(115</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance, December 31, 2018</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,551</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,536</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Pension Liability </div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustment</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized Gain</div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Loss) on Cash </div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Flow Hedges</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance, December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,436</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,445</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Other comprehensive income (loss) before reclassifications</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(66</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Amounts reclassified from Accumulated other comprehensive loss</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net current period adjustments to Other comprehensive income (loss)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(115</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance, December 31, 2018</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,551</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,536</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div> |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Details about Accumulated Other Year Ended December 31, Consolidated Statements Comprehensive Loss Components 2018 2017 2016 of Operations Pension liability adjustment: Net periodic pension cost: Service cost $ (11 ) $ (11 ) $ (11 ) Cost of sales Non-service cost 52 8 (381 ) Other income (expense) Associated income tax benefit 8 - 136 Income tax benefit 49 (3 ) (256 ) Net of tax Unrealized gain on cash flow hedges: Gain on cash flow hedges 13 5 45 Net sales Associated income tax expense (1 ) (2 ) (17 ) Income tax benefit 12 3 28 Net of tax Total reclassifications for the period $ 61 $ - $ (228 ) |
Note 20 - Quarterly Data (Una_2
Note 20 - Quarterly Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Quarter Second Quarter Third Quarter Fourth Quarter Total For the Year Ended December 31, 2018 Net sales $ 33,365 $ 28,785 $ 52,455 $ 57,544 $ 172,149 Gross profit (loss) 1,348 (1,238 ) 5,203 6,783 12,096 Operating income (loss) (1) (2,342 ) (5,827 ) 2,497 2,701 (2,971 ) Net income (loss) (2) (1,951 ) (5,686 ) 27,801 148 20,312 Income (loss) per share: Basic $ (0.20 ) $ (0.59 ) $ 2.86 $ 0.02 $ 2.09 Diluted $ (0.20 ) $ (0.59 ) $ 2.86 $ 0.02 $ 2.09 First Quarter Second Quarter Third Quarter Fourth Quarter Total For the Year Ended December 31, 2017 Net sales $ 29,657 $ 28,692 $ 38,804 $ 35,627 $ 132,780 Gross profit (3) 1,243 746 1,993 1,833 5,815 Operating loss (3,478 ) (2,826 ) (1,430 ) (1,475 ) (9,209 ) Loss from continuing operations (3,542 ) (1,421 ) (1,587 ) (1,842 ) (8,392 ) Loss on discontinued operations (326 ) (647 ) (482 ) (316 ) (1,771 ) Net loss (3,868 ) (2,068 ) (2,069 ) (2,158 ) (10,163 ) Basic and diluted loss per share: Continuing operations $ (0.37 ) $ (0.15 ) $ (0.16 ) $ (0.20 ) $ (0.88 ) Discontinued operations (0.03 ) (0.07 ) (0.05 ) (0.03 ) (0.18 ) Net loss per share $ (0.40 ) $ (0.22 ) $ (0.21 ) $ (0.23 ) $ (1.06 ) |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Summary of Valuation and Qualifying Accounts [Table Text Block] | Balance at Beginning of Period Charged to Profit and Loss Deduction from Reserves Balance at End of Period Year Ended December 31, 2018: Allowance for doubtful accounts $ 477 $ 449 $ (266 ) $ 660 Valuation allowance for deferred income tax assets 10,413 1,785 (2,765 ) 9,433 Year Ended December 31, 2017: Allowance for doubtful accounts $ 515 $ 637 $ (675 ) $ 477 Valuation allowance for deferred income tax assets 8,217 2,196 - 10,413 Year Ended December 31, 2016: Allowance for doubtful accounts $ 751 (1) $ 295 $ (531 ) $ 515 Valuation allowance for deferred income tax assets 7,057 1,160 - 8,217 |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Operating Segments | 1 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Jan. 01, 2019USD ($) | |
Book Overdrafts | $ 0 | $ 0 | ||
Workers' Compensation Liability | 2,700,000 | 3,700,000 | ||
Workers' Compensation Liability, Current | 452,000 | 422,000 | ||
Foreign Currency Transaction Gain (Loss), Realized | $ (400,000) | $ (200,000) | $ 100,000 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 63,000 | 196,000 | 198,000 | |
Number of Customers with Receivable Balance in Excess of Ten Percent of Receivables | 1 | 2 | ||
Subsequent Event [Member] | Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 8,000,000 | |||
Operating Lease, Liability, Total | $ 8,000,000 | |||
Reclassification from Cost of Sales to Other Income Expense [Member] | ||||
Prior Period Reclassification Adjustment | $ 0 | $ 400,000 | ||
Performance Shares [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 39,000 | |||
Accrued Liability [Member] | ||||
Workers' Compensation Liability, Current | $ 500,000 | 400,000 | ||
Other Long-term Liabilities [Member] | ||||
Workers' Compensation Liability, Noncurrent | $ 2,200,000 | $ 3,300,000 | ||
Minimum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 330 days | |||
Maximum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||
Land Improvements [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 15 years | |||
Land Improvements [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 30 years | |||
Building [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
Building [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 40 years | |||
Machinery and Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Machinery and Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 30 years |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Accrued vacation payable | $ 2,211 | $ 1,886 | |
Accrued sales tax | 1,753 | 550 | |
Accrued property taxes | 600 | 898 | |
Workers' Compensation Liability, Current | 452 | 422 | |
Provision for losses on uncompleted contracts | 85 | 911 | |
Other | 2,446 | 1,896 | |
Total accrued liabilities | $ 7,547 | $ 5,780 | $ 6,563 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Loss Per Basic and Diluted Weighted Average Common Share Outstanding for Continuing and Discontinued Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||||
Income (loss) from continuing operations | $ (1,842) | $ (1,587) | $ (1,421) | $ (3,542) | $ 20,312 | $ (8,392) | $ (6,741) | |||||||||||
Loss on discontinued operations | (316) | (482) | (647) | (326) | (1,771) | (2,522) | ||||||||||||
Net income (loss) | $ 148 | [1] | $ 27,801 | [1] | $ (5,686) | [1] | $ (1,951) | [1] | $ (2,158) | $ (2,069) | $ (2,068) | $ (3,868) | $ 20,312 | [1] | $ 20,312 | $ (10,163) | $ (9,263) | |
Basic (in shares) | 9,726 | 9,613 | 9,588 | |||||||||||||||
Effect of potentially dilutive common shares(1) (in shares) | [2] | 7 | ||||||||||||||||
Diluted weighted-average common shares outstanding (in shares) | 9,733 | 9,613 | 9,588 | |||||||||||||||
Continuing operations, basic (in dollars per share) | $ (0.20) | $ (0.16) | $ (0.15) | $ (0.37) | $ 2.09 | $ (0.88) | $ (0.71) | |||||||||||
Discontinued operations, basic (in dollars per share) | (0.18) | (0.26) | ||||||||||||||||
Net income (loss) per share, basic (in dollars per share) | $ 0.02 | $ 2.86 | $ (0.59) | $ (0.20) | 2.09 | (1.06) | (0.97) | |||||||||||
Continuing operations, diluted (in dollars per share) | 2.09 | (0.88) | (0.71) | |||||||||||||||
Net income (loss) per share, diluted (in dollars per share) | $ 0.02 | $ 2.86 | $ (0.59) | $ (0.20) | $ 2.09 | $ (1.06) | $ (0.97) | |||||||||||
[1] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. | |||||||||||||||||
[2] | The weighted-average number of antidilutive shares not included in the computation of diluted net income per share was approximately 63,000, for the year ended December 31, 2018, including approximately 39,000 of performance-based share awards, at the target level of 100%, that were not included because the performance conditions had not been met as of December 31, 2018. The weighted-average number of antidilutive shares not included in the computation of diluted net loss per share was approximately 196,000 and 198,000 for the years ended December 31, 2017 and 2016, respectively. |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Impact of the Adoption (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | ||||||
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | $ 34,394 | $ 28,990 | $ 34,394 | $ 34,394 | $ 28,990 | $ 28,570 | ||||||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | ||||||||||||||||||
Contract assets | 74,271 | 44,502 | 74,271 | 74,271 | 44,502 | 42,945 | ||||||||||||
Accrued liabilities | 7,547 | 6,563 | 7,547 | 7,547 | 6,563 | 5,780 | ||||||||||||
Billings in excess of costs and estimated earnings on uncompleted contracts | ||||||||||||||||||
Contract liabilities | 3,745 | 2,599 | 3,745 | 3,745 | 2,599 | 2,537 | ||||||||||||
Deferred income taxes | 68 | 941 | 68 | 68 | 941 | 684 | ||||||||||||
Retained earnings | 101,194 | 81,757 | 101,194 | 101,194 | 81,757 | $ 80,882 | ||||||||||||
Net sales | 57,544 | $ 52,455 | $ 28,785 | $ 33,365 | 35,627 | $ 38,804 | $ 28,692 | $ 29,657 | 172,149 | 132,780 | $ 149,387 | |||||||
Cost of sales | 160,053 | 126,965 | 149,323 | |||||||||||||||
Operating loss | 2,701 | [1] | 2,497 | [1] | (5,827) | [1] | (2,342) | [1] | (1,475) | (1,430) | (2,826) | (3,478) | (2,971) | [1] | (9,209) | (9,987) | ||
Income tax benefit | (3,252) | (1,100) | (4,098) | |||||||||||||||
Net income (loss) | 148 | [2] | $ 27,801 | [2] | $ (5,686) | [2] | $ (1,951) | [2] | (2,158) | $ (2,069) | $ (2,068) | $ (3,868) | 20,312 | [2] | 20,312 | (10,163) | $ (9,263) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||||||||||||||
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | 35,228 | 35,228 | 35,228 | |||||||||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | 76,033 | 76,033 | 76,033 | |||||||||||||||
Contract assets | ||||||||||||||||||
Accrued liabilities | 8,862 | 8,862 | 8,862 | |||||||||||||||
Billings in excess of costs and estimated earnings on uncompleted contracts | 3,660 | 3,660 | 3,660 | |||||||||||||||
Contract liabilities | ||||||||||||||||||
Deferred income taxes | 326 | 326 | 326 | |||||||||||||||
Retained earnings | 102,302 | 102,302 | 102,302 | |||||||||||||||
Net sales | 172,915 | |||||||||||||||||
Cost of sales | 160,585 | |||||||||||||||||
Operating loss | (2,737) | |||||||||||||||||
Income tax benefit | (3,251) | |||||||||||||||||
Net income (loss) | 20,545 | |||||||||||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||||||||||
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | (420) | (420) | ||||||||||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | (44,502) | (44,502) | ||||||||||||||||
Contract assets | 42,945 | 42,945 | ||||||||||||||||
Accrued liabilities | (783) | (783) | ||||||||||||||||
Billings in excess of costs and estimated earnings on uncompleted contracts | (2,599) | (2,599) | ||||||||||||||||
Contract liabilities | 2,537 | 2,537 | ||||||||||||||||
Deferred income taxes | (257) | (257) | ||||||||||||||||
Retained earnings | (875) | (875) | ||||||||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||||
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | 834 | 834 | 834 | |||||||||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | 76,033 | 76,033 | 76,033 | |||||||||||||||
Contract assets | (74,271) | (74,271) | (74,271) | |||||||||||||||
Accrued liabilities | 1,315 | 1,315 | 1,315 | |||||||||||||||
Billings in excess of costs and estimated earnings on uncompleted contracts | 3,660 | 3,660 | 3,660 | |||||||||||||||
Contract liabilities | (3,745) | (3,745) | (3,745) | |||||||||||||||
Deferred income taxes | 258 | 258 | 258 | |||||||||||||||
Retained earnings | $ 1,108 | 1,108 | $ 1,108 | |||||||||||||||
Net sales | 766 | |||||||||||||||||
Cost of sales | 532 | |||||||||||||||||
Operating loss | 234 | |||||||||||||||||
Income tax benefit | 1 | |||||||||||||||||
Net income (loss) | $ 233 | |||||||||||||||||
Previously Reported [Member] | ||||||||||||||||||
Trade and other receivables, less allowance for doubtful accounts of $660 and $477 | 28,990 | 28,990 | ||||||||||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | 44,502 | 44,502 | ||||||||||||||||
Contract assets | ||||||||||||||||||
Accrued liabilities | 6,563 | 6,563 | ||||||||||||||||
Billings in excess of costs and estimated earnings on uncompleted contracts | 2,599 | 2,599 | ||||||||||||||||
Contract liabilities | ||||||||||||||||||
Deferred income taxes | 941 | 941 | ||||||||||||||||
Retained earnings | $ 81,757 | $ 81,757 | ||||||||||||||||
[1] | Operating income for the third quarter of 2018 includes a gain on sale of facility of $2.8 million for the sale of property in Houston, Texas. Operating income for the fourth quarter of 2018 includes a gain on sale of facility of $0.2 million for the sale of the Monterrey, Mexico facility. | |||||||||||||||||
[2] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Note 3 - Business Combination_2
Note 3 - Business Combination (Details Textual) - Ameron Water Transmission Group, LLC [Member] - USD ($) $ in Thousands | Jul. 27, 2018 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2018 |
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Consideration Transferred, Total | $ 38,135 | |||
Business Combination, Bargain Purchase, Increase (Decrease) in Gain Recognized, Measurement Period Adjustment | $ (1,800) | |||
Business Acquisition, Increase (Decrease) in Inventories, Measurement Period Adjustment | $ (2,000) | |||
Business Combination, Acquisition Related Costs | $ 2,600 | |||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 30,200 |
Note 3 - Business Combination -
Note 3 - Business Combination - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jul. 27, 2018 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Liabilities | |||||
Bargain purchase gain | $ (21,900) | $ (20,080) | |||
Ameron Water Transmission Group, LLC [Member] | |||||
Assets | |||||
Cash and cash equivalents | $ 912 | ||||
Trade and other receivables | 8,887 | ||||
Contract assets | 12,018 | ||||
Inventories | 7,937 | ||||
Prepaid expenses and other | 3,777 | ||||
Property and equipment | 34,827 | ||||
Other assets | 320 | ||||
Total assets acquired | 68,678 | ||||
Liabilities | |||||
Accounts payable | 5,520 | ||||
Accrued liabilities | 1,599 | ||||
Contract liabilities | 123 | ||||
Deferred income taxes | 3,221 | ||||
Total liabilities assumed | 10,463 | ||||
Bargain purchase gain | (20,080) | ||||
Total purchase consideration | $ 38,135 |
Note 3 - Business Combination_3
Note 3 - Business Combination - Pro Forma Summary (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Net sales | $ 200,513 | $ 186,377 |
Net loss from continuing operations | $ (15,102) | $ (10,611) |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations (Details Textual) - USD ($) $ in Thousands | Dec. 26, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Escrow Deposits Related to Property Sales | $ 4,465 | |||
Atchison Facility [Member] | ||||
Disposal Group, Including Discontinued Operation, Consideration | $ 37,200 | |||
Atchison Facility [Member] | Until Receipt by Buyer [Member] | ||||
Escrow Deposits Related to Property Sales | 800 | |||
Atchison Facility [Member] | To Secure Indemnification Obligations [Member] | ||||
Escrow Deposits Related to Property Sales | $ 3,700 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations - Operating Results for Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 12 | $ 6,869 | |||||
Cost of sales | 1,792 | 9,777 | |||||
Gross loss | (1,780) | (2,908) | |||||
Selling, general, and administrative expense | (1) | 257 | |||||
Gain on sale of facility | (6) | ||||||
Operating loss | (1,773) | (3,165) | |||||
Other expense | (1) | ||||||
Interest expense | (14) | ||||||
Loss before income taxes | (1,773) | (3,180) | |||||
Income tax benefit | (2) | (658) | |||||
Net loss | $ (316) | $ (482) | $ (647) | $ (326) | $ (1,771) | $ (2,522) |
Note 5 - Inventories - Componen
Note 5 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Raw materials | $ 34,426 | $ 13,700 |
Work-in-process | 2,368 | 1,268 |
Finished goods | 1,075 | 464 |
Supplies | 1,507 | 1,623 |
Total current inventories | 39,376 | 17,055 |
Finished goods | 65 | 820 |
Total inventories | $ 39,441 | $ 17,875 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2018 | Aug. 31, 2018 | Oct. 30, 2016 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | $ 900 | $ 900 | $ 900 | $ 500 | ||||
Property, Plant and Equipment, Net, Ending Balance | 103,447 | 103,447 | 103,447 | 78,756 | ||||
Proceeds from Sale of Property, Plant, and Equipment, Total | 141 | 146 | $ 33 | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | (222) | 51 | $ (19) | |||||
Monterrey, Mexico Facility [Member] | ||||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | 2,700 | |||||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | 200 | 200 | ||||||
Property in Houston, Texas [Member] | ||||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 5,800 | |||||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ 2,800 | $ 2,800 | ||||||
Denver Facility [Member] | ||||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 13,900 | |||||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ 7,900 | |||||||
MEXICO | ||||||||
Property, Plant and Equipment, Net, Ending Balance | $ 21,600 | $ 21,600 | $ 21,600 | $ 3,800 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 177,984 | $ 152,095 |
Less accumulated depreciation and amortization | (76,861) | (74,311) |
101,123 | 77,784 | |
Property and equipment, net | 103,447 | 78,756 |
Land Improvements [Member] | ||
Property and equipment, gross | 22,940 | 20,185 |
Building [Member] | ||
Property and equipment, gross | 40,477 | 30,301 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 112,884 | 100,438 |
Assets Held under Capital Leases [Member] | ||
Property and equipment, gross | 1,683 | 1,171 |
Construction in Progress [Member] | ||
Property and equipment, net | $ 2,324 | $ 972 |
Note 7 - Intangible Assets - Su
Note 7 - Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Gross Carrying Amount | $ 2,710 | $ 3,848 | |
Accumulated Amortization | (1,157) | (1,945) | |
Intangible Assets, Net | 1,553 | 1,903 | |
Customer Relationships [Member] | |||
Gross Carrying Amount | 1,378 | 1,378 | |
Accumulated Amortization | (689) | (551) | |
Intangible Assets, Net | 689 | 827 | |
Trademarks and Trade Names [Member] | |||
Gross Carrying Amount | 1,132 | 1,132 | |
Accumulated Amortization | (377) | (302) | |
Intangible Assets, Net | 755 | 830 | |
Backlog [Member] | |||
Gross Carrying Amount | [1] | 200 | |
Accumulated Amortization | [1] | (91) | |
Intangible Assets, Net | [1] | $ 109 | |
Patents [Member] | |||
Gross Carrying Amount | 1,162 | ||
Accumulated Amortization | (929) | ||
Intangible Assets, Net | 233 | ||
Other Intangible Assets [Member] | |||
Gross Carrying Amount | [2] | 176 | |
Accumulated Amortization | [2] | (163) | |
Intangible Assets, Net | [2] | $ 13 | |
[1] | Backlog, included in the July 2018 acquisition of Ameron, has a weighted-average amortization period of eleven months. | ||
[2] | Other intangibles consist of favorable lease contracts and non-compete agreements. |
Note 7 - Intangible Assets - _2
Note 7 - Intangible Assets - Summary of Estimated Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2019 | $ 322 | |
2020 | 213 | |
2021 | 213 | |
2022 | 213 | |
2023 | 213 | |
Thereafter | 379 | |
Total | $ 1,553 | $ 1,903 |
Note 8 - Line of Credit (Detail
Note 8 - Line of Credit (Details Textual) - USD ($) $ in Thousands | Oct. 25, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 26, 2015 |
Interest Expense, Debt, Total | $ 600 | $ 500 | $ 500 | ||
Interest Costs Capitalized | $ 0 | ||||
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 60,000 | ||||
Line of Credit Facility, Maximum Borrowing Capacity, Subject to Provision of Agreement | $ 100,000 | ||||
Long-term Line of Credit, Total | 11,500 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 38,000 | ||||
Debt, Weighted Average Interest Rate | 4.56% | ||||
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member] | Minimum [Member] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member] | Maximum [Member] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.375% | ||||
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||
2015 Credit Agreement [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000 | $ 60,000 | |||
Long-term Line of Credit, Total | $ 0 | ||||
2015 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||
2015 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||
2015 Credit Agreement [Member] | Prime Rate [Member] | Minimum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||
2015 Credit Agreement [Member] | Prime Rate [Member] | Maximum [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Capital Lease Obligations, Total | $ 1.3 | ||
Capital Lease, Weighted Average Interest Rate | 5.01% | ||
Maximum Duration of Operating Leases | 10 years | ||
Operating Leases, Rent Expense, Net, Total | $ 2.7 | $ 3 | $ 3 |
Note 9 - Leases - Schedule of F
Note 9 - Leases - Schedule of Future Minimum Lease Payments for Capital Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2019 | $ 470 | |
2020 | 375 | |
2021 | 258 | |
2022 | 237 | |
2023 | 33 | |
Total minimum lease payments | 1,373 | |
Amount representing interest | (118) | |
Present value of minimum lease payments | 1,255 | |
Current portion of capital lease obligations | 416 | $ 318 |
Capital lease obligations, less current portion | $ 839 | $ 737 |
Note 9 - Leases - Schedule of_2
Note 9 - Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 1,582 |
2020 | 1,456 |
2021 | 1,145 |
2022 | 959 |
2023 | 762 |
Thereafter | 4,347 |
Total | $ 10,251 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred compensation plan | $ 4,719 | $ 6,244 |
Foreign currency forward contracts | 101 | |
Total financial assets | 4,820 | |
Foreign currency forward contracts | (60) | |
Fair Value, Inputs, Level 1 [Member] | ||
Deferred compensation plan | 3,925 | 5,251 |
Foreign currency forward contracts | ||
Total financial assets | 3,925 | |
Foreign currency forward contracts | ||
Fair Value, Inputs, Level 2 [Member] | ||
Deferred compensation plan | 794 | 993 |
Foreign currency forward contracts | 101 | |
Total financial assets | 895 | |
Foreign currency forward contracts | (60) | |
Fair Value, Inputs, Level 3 [Member] | ||
Deferred compensation plan | ||
Foreign currency forward contracts | ||
Total financial assets | ||
Foreign currency forward contracts |
Note 11 - Derivative Instrume_2
Note 11 - Derivative Instruments and Hedging Activities (Details Textual) - Foreign Exchange Forward [Member] $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2017CAD ($) | |
Unrealized Gain on Foreign Currency Derivatives, before Tax | $ 0 | ||||
Maximum [Member] | |||||
Maturity Period For Forward Contracts | 1 year | ||||
Designated as Hedging Instrument [Member] | |||||
Derivative, Notional Amount | $ 1,700,000 | $ 2,100,000 | $ 2.3 | $ 2.7 | |
Not Designated as Hedging Instrument [Member] | |||||
Derivative, Notional Amount | 200,000 | $ 0.2 | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net, Total | $ 200,000 | $ 0 | $ 0 |
Note 12 - Retirement Plans (Det
Note 12 - Retirement Plans (Details Textual) | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Company Matching Percentage on First Six Percent of Employee Contributions | 50.00% | ||
Employee Contribution Percentage for Which Company Will Match at Fifty Percent | 6.00% | ||
Defined Contribution Plan Number of Investment Options | 23 | ||
Number of Non-contributory Defined Benefit Plans | 2 | ||
Liability, Defined Benefit Plan, Total | $ 1,700,000 | $ 1,700,000 | |
Accumulated Other Comprehensive Income (Loss), Unrecognized Net Actuarial Losses, Net of Tax | 1,600,000 | 1,400,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 6,100,000 | 6,600,000 | |
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 4,400,000 | 4,900,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total | $ 0 | $ 0 | $ 400,000 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.98% | 3.36% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.50% | 7.50% | |
Company Matching Percentage on First Ten Thousand Dollar Employee Contributions | 50.00% | ||
Officer Contribution for Which Company Will Match at Fifty Percent | $ 10,000 | ||
Select Employee Contribution for Which Company Will Match at Fifty Percent | 5,000 | ||
Deferred Compensation Plan Assets | 4,719,000 | $ 6,244,000 | |
Deferred Compensation Liability, Current and Noncurrent, Total | 4,700,000 | 6,200,000 | |
Retirement Plan Expense | $ 900,000 | $ 900,000 | $ 1,400,000 |
Note 13 - Share-based Compens_3
Note 13 - Share-based Compensation (Details Textual) | 12 Months Ended | |||
Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | ||
Number Of Active Stock Incentive Plans | 1 | |||
Number Of Inactive Stock Option Plans | 1 | |||
Common Stock, Capital Shares Reserved for Future Issuance | 537,978 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 0 | 0 | 0 | |
Restricted Stock Units and Performance Share Award Target Level, Percentage | 100.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |
Director [Member] | ||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 11,172 | 14,944 | 27,640 | |
Share-based Compensation Arrangement by Stock-based Payment Award, Grant Date Fair Value | $ / shares | $ 21.48 | $ 14.72 | $ 9.95 | |
Minimum [Member] | ||||
Performance Awards Issued Multiplier | 0.00% | |||
Maximum [Member] | ||||
Performance Awards Issued Multiplier | 200.00% | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 9.50 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | ||
Performance Shares [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 19.97 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | ||
Restricted Stock Units and Performance Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 19.97 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [1] | 43,077 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ | $ 1,600,000 | $ 100,000 | $ 100,000 | |
[1] | The number of shares disclosed in this table are at the target level of 100%. |
Note 13 - Share-based Compens_4
Note 13 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based compensation expense | $ 281 | $ 1,200 | $ 1,801 |
Cost of Sales [Member] | |||
Share-based compensation expense | 12 | 292 | 422 |
Selling, General and Administrative Expenses [Member] | |||
Share-based compensation expense | 269 | 908 | 1,387 |
Income (Loss) From Operations of Discontinued Operations [Member] | |||
Share-based compensation expense | $ (8) |
Note 13 - Share-based Compens_5
Note 13 - Share-based Compensation - Stock Option Activity (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, shares (in shares) | 24,000 | ||
Balance, weighted average exercise price (in dollars per share) | $ 24.15 | ||
Options granted, shares (in shares) | |||
Options granted, weighted average exercise price (in dollars per share) | |||
Options exercised, shares (in shares) | 0 | 0 | 0 |
Options exercised, weighted average exercise price (in dollars per share) | |||
Options canceled, shares (in shares) | |||
Options canceled, weighted average exercise price (in dollars per share) | |||
Balance, shares (in shares) | 24,000 | 24,000 | |
Balance, weighted average exercise price (in dollars per share) | $ 24.15 | $ 24.15 | |
Balance, weighted average remaining contractual life (Year) | |||
Balance, aggregate instrinsic value | |||
Exercisable, shares (in shares) | 24,000 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 24.15 | ||
Exercisable, weighted average remaining contractual life (Year) | 1 year 87 days | ||
Exercisable, aggregate instrinsic value |
Note 13 - Share-based Compens_6
Note 13 - Share-based Compensation - RSU and PSA Activity (Details) - Restricted Stock Units and Performance Stock Awards [Member] | 12 Months Ended | |
Dec. 31, 2018$ / sharesshares | ||
Unvested RSUs and PSAs (in shares) | shares | 169,583 | [1] |
Unvested RSUs and PSAs (in dollars per share) | $ / shares | $ 9.50 | |
PSAs granted (in shares) | shares | 43,077 | [1] |
PSAs granted (in dollars per share) | $ / shares | $ 19.97 | |
Unvested PSAs canceled (in shares) | shares | (3,085) | [1] |
Unvested PSAs canceled (in dollars per share) | $ / shares | $ 19.97 | |
RSUs vested (in shares) | shares | (169,583) | [1] |
RSUs vested (in dollars per share) | $ / shares | $ 9.50 | |
Unvested PSAs as of December 31, 2018 (in shares) | shares | 39,992 | [1] |
Unvested PSAs as of December 31, 2018 (in dollars per share) | $ / shares | $ 19.97 | |
[1] | The number of shares disclosed in this table are at the target level of 100%. |
Note 14 - Shareholder Rights _2
Note 14 - Shareholder Rights Plan (Details Textual) - $ / shares | Jun. 18, 2009 | Jun. 17, 2009 | Dec. 31, 2018 |
Number of Series Junior Participating Preferred Stock Shares Reserved | 150,000 | ||
Dividend Distribution Under Shareholder Rights Plan | 1 | ||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.01 | ||
Purchase Price Under Rights | $ 83 | ||
Acquisition Percentage | 15.00% | ||
Value of Exercised Right | 2 | ||
Right Redemption Value | $ 0.01 | ||
Amended and Restated Rights Agreement Expiration Date | Jun. 28, 2019 | Jun. 28, 2009 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) $ in Millions | 1 Months Ended | ||
Jan. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2014USD ($) | |
Number Of Potentially Responsible Parties | 150 | ||
Estimated Cost of EPA Selected Remedy | $ 1,000 | ||
Estimated Time to Complete Selected EPA Remedy | 13 years | ||
Letters of Credit Outstanding, Amount | $ 1.6 | ||
Portland Harbor Natural Resources Trustee Council [Member] | |||
Loss Contingency, Accrual, Current | $ 0.4 | ||
Lower Willamette Group [Member] | |||
Number Of Potentially Responsible Parties | 14 |
Note 16 - Revenue 1 (Details Te
Note 16 - Revenue 1 (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Increase (Decrease) in Revenue from Contract with Customers, Including Assessed Tax | $ (0.2) | $ (0.2) | $ 1.7 |
Contract with Customer, Liability, Revenue Recognized | 2.6 | $ 1.9 | $ 0.5 |
Revenue, Remaining Performance Obligation, Amount | 81.3 | ||
Ameron Water Transmission Group, LLC [Member] | |||
Contract with Customer, Asset, Increase (Decrease) for Contract Acquired in Business Combination | 12 | ||
Contract with Customer, Liability, Increase (Decrease) for Contract Acquired in Business Combination | $ 0.1 | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk, Percentage | 28.00% | ||
Number of Major Customers | 1 |
Note 16 - Revenue 2 (Details Te
Note 16 - Revenue 2 (Details Textual) | Dec. 31, 2018 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-31 | |
Revenue, Remaining Performance Obligation, Percentage | 83.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-31 | |
Revenue, Remaining Performance Obligation, Percentage | 13.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Note 16 - Revenue - Net Sales F
Note 16 - Revenue - Net Sales From Continuing Operations by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 57,544 | $ 52,455 | $ 28,785 | $ 33,365 | $ 35,627 | $ 38,804 | $ 28,692 | $ 29,657 | $ 172,149 | $ 132,780 | $ 149,387 |
UNITED STATES | |||||||||||
Net sales | 161,415 | 122,179 | 137,411 | ||||||||
CANADA | |||||||||||
Net sales | $ 10,734 | $ 10,601 | $ 11,976 |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |
Tax Adjustments, Settlements, and Unusual Provisions | $ 900 | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 600 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 200 | ||
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 0 | $ 0 | $ 0 |
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 45,400 | 45,400 | |
Operating Loss Carryforwards, Expired Between 2035 and 2036 | 36,300 | 36,300 | |
Operating Loss Carryforwards, Indefinite lived | 9,100 | 9,100 | |
Tax Credit Carryforward, Amount | 2,900 | 2,900 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 56,700 | 56,700 | |
Tax Credit Carryforward, Amount | 4,200 | 4,200 | |
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | $ 1,600 | $ 1,600 |
Note 17 - Income Taxes - Income
Note 17 - Income Taxes - Income (Loss) from Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
United States | $ 16,207 | $ (9,634) | $ (10,959) |
Foreign | 853 | 142 | 120 |
Income (loss) from continuing operations before income taxes | $ 17,060 | $ (9,492) | $ (10,839) |
Note 17 - Income Taxes - Summar
Note 17 - Income Taxes - Summary of Components of Income Tax Expense for Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Federal | $ (117) | $ (466) | $ (844) |
State | 99 | 49 | (102) |
Foreign | 395 | 12 | 104 |
Total current income tax expense (benefit) | 377 | (405) | (842) |
Federal | (2,954) | (766) | (2,883) |
State | (807) | 71 | (373) |
Foreign | 132 | ||
Total deferred income tax benefit | (3,629) | (695) | (3,256) |
Income tax benefit | $ (3,252) | $ (1,100) | $ (4,098) |
Note 17 - Income Taxes - Effect
Note 17 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income tax expense (benefit) at federal statutory rate | $ 3,583 | $ (3,322) | $ (3,755) |
State benefit, net of federal income tax effect | (218) | (472) | (286) |
Federal and state income tax credits | (7) | 36 | (154) |
Change in valuation allowance | (2,618) | 1,570 | 585 |
Tax windfall on share-based compensation | (369) | ||
Excess income tax shortfall on share-based compensation | 765 | ||
Bargain purchase gain | (4,228) | ||
Effect of Tax Cuts and Jobs Act of 2017 | 874 | ||
Uncertain income tax positions | (562) | (4) | |
Nondeductible expenses | 427 | 63 | 63 |
Foreign rate differential | 77 | ||
Nontaxable adjustment to contingent consideration | (580) | ||
Other | 101 | (52) | 33 |
Income tax benefit | $ (3,252) | $ (1,100) | $ (4,098) |
Effective income tax rate | (19.10%) | (11.60%) | (37.80%) |
Note 17 - Income Taxes - Summ_2
Note 17 - Income Taxes - Summary of Current and Noncurrent Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Contract assets, net | $ 425 | ||
Accrued employee benefits | 2,157 | 2,806 | |
Inventories | 347 | 296 | |
Trade receivable, net | 1,040 | 105 | |
Net operating loss carryforwards | 12,867 | 9,850 | |
Tax credit carryforwards | 5,181 | 5,478 | |
Other assets | 1,201 | ||
Other | 226 | 81 | |
Deferred tax assets, gross | 22,243 | 19,817 | |
Valuation allowance | (9,433) | (10,413) | |
Deferred tax assets, net | 12,810 | 9,404 | |
Contract assets, net | (110) | ||
Property and equipment | (11,984) | (9,524) | |
Intangible assets | (310) | (433) | |
Prepaid expenses | (470) | (278) | |
Total deferred tax liabilities | (12,764) | (10,345) | |
Net deferred income tax assets (liabilities) | 46 | ||
Net deferred income tax assets (liabilities) | (941) | ||
Deferred income tax assets, included in Other assets | 114 | ||
Deferred income taxes | (68) | $ (684) | (941) |
Net deferred income tax assets (liabilities) | $ 46 | ||
Net deferred income tax assets (liabilities) | $ (941) |
Note 17 - Income Taxes - Summ_3
Note 17 - Income Taxes - Summary of Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unrecognized income tax benefits, beginning of year | $ 4,116 | $ 4,874 | $ 4,874 |
Decreases for lapse in statute of limitations | (520) | ||
Decreases for positions taken in prior years | (238) | ||
Increases for positions taken in the current year | 234 | ||
Unrecognized income tax benefits, end of year | $ 4,350 | $ 4,116 | $ 4,874 |
Note 18 - Accumulated Other C_3
Note 18 - Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Pension liability adjustment, net of income tax benefit of $911 and $866 | $ (1,551) | $ (1,436) |
Unrealized gain (loss) on cash flow hedges, net of income tax expense (benefit) of $8 and $(1) | 15 | (9) |
Total | $ (1,536) | $ (1,445) |
Note 18 - Accumulated Other C_4
Note 18 - Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Pension liability adjustment, tax effect | $ 911 | $ 866 |
Unrealized gain (loss) on cash flow hedges, tax effect | $ 8 | $ (1) |
Note 18 - Accumulated Other C_5
Note 18 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Beginning balance | $ 200,264 | $ 209,213 | $ 217,560 |
Other comprehensive income (loss), net of tax | (91) | 38 | 55 |
Ending balance | 218,590 | 200,264 | 209,213 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Beginning balance | (1,436) | ||
Other comprehensive income (loss) before reclassifications | (66) | ||
Amounts reclassified from Accumulated other comprehensive loss | (49) | ||
Other comprehensive income (loss), net of tax | (115) | ||
Ending balance | (1,551) | (1,436) | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Beginning balance | (9) | ||
Other comprehensive income (loss) before reclassifications | 36 | ||
Amounts reclassified from Accumulated other comprehensive loss | (12) | ||
Other comprehensive income (loss), net of tax | 24 | ||
Ending balance | 15 | (9) | |
AOCI Attributable to Parent [Member] | |||
Beginning balance | (1,445) | (1,483) | (1,538) |
Other comprehensive income (loss) before reclassifications | (30) | ||
Amounts reclassified from Accumulated other comprehensive loss | (61) | ||
Other comprehensive income (loss), net of tax | (91) | ||
Ending balance | $ (1,536) | $ (1,445) | $ (1,483) |
Note 18 - Accumulated Other C_6
Note 18 - Accumulated Other Comprehensive Loss - Reclassification of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||||
Cost of sales | $ 160,053 | $ 126,965 | $ 149,323 | ||||||||||||||
Other income (loss) | 267 | 201 | (357) | ||||||||||||||
Tax (expense) benefit | 3,252 | 1,100 | 4,098 | ||||||||||||||
Net income (loss) | $ 148 | [1] | $ 27,801 | [1] | $ (5,686) | [1] | $ (1,951) | [1] | $ (2,158) | $ (2,069) | $ (2,068) | $ (3,868) | 20,312 | [1] | $ 20,312 | (10,163) | (9,263) |
Net sales | $ 57,544 | $ 52,455 | $ 28,785 | $ 33,365 | $ 35,627 | $ 38,804 | $ 28,692 | $ 29,657 | 172,149 | 132,780 | 149,387 | ||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||||||||
Net income (loss) | 61 | (228) | |||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||||||||||||||
Cost of sales | (11) | (11) | (11) | ||||||||||||||
Other income (loss) | 52 | 8 | (381) | ||||||||||||||
Tax (expense) benefit | 8 | 136 | |||||||||||||||
Net income (loss) | 49 | (3) | (256) | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||||||||||||||
Tax (expense) benefit | (1) | (2) | (17) | ||||||||||||||
Net income (loss) | 12 | 3 | 28 | ||||||||||||||
Net sales | $ 13 | $ 5 | $ 45 | ||||||||||||||
[1] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Note 19 - Restructuring (Detail
Note 19 - Restructuring (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring Charges, Total | $ 1,364,000 | $ 881,000 | $ 990,000 |
Employee Severance [Member] | |||
Restructuring Charges, Total | 600,000 | 0 | 500,000 |
Demobilization Activities [Member] | |||
Restructuring Charges, Total | $ 800,000 | $ 900,000 | $ 500,000 |
Note 20 - Quarterly Data (Una_3
Note 20 - Quarterly Data (Unaudited) (Details Textual) - USD ($) $ in Thousands | Jul. 27, 2018 | Dec. 31, 2018 | Aug. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ (222) | $ 51 | $ (19) | ||||||
Business Combination, Bargain Purchase, Gain Recognized, Amount | $ 21,900 | $ 20,080 | |||||||
Cost of Sales [Member] | |||||||||
Workers Compensation Expense | $ 1,200 | ||||||||
Ameron Water Transmission Group, LLC [Member] | |||||||||
Business Combination, Bargain Purchase, Gain Recognized, Amount | $ 20,080 | ||||||||
Business Combination, Bargain Purchase, Increase (Decrease) in Gain Recognized, Measurement Period Adjustment | $ (1,800) | ||||||||
Property in Houston, Texas [Member] | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ 2,800 | $ 2,800 | |||||||
Monterrey, Mexico Facility [Member] | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ 200 | $ 200 |
Note 20 - Quarterly Data (Una_4
Note 20 - Quarterly Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||||||||
Net sales | $ 57,544 | $ 52,455 | $ 28,785 | $ 33,365 | $ 35,627 | $ 38,804 | $ 28,692 | $ 29,657 | $ 172,149 | $ 132,780 | $ 149,387 | |||||||||||
Gross profit (loss) | 6,783 | [1] | 5,203 | [1] | (1,238) | [1] | 1,348 | [1] | 1,833 | [2] | 1,993 | [2] | 746 | [2] | 1,243 | [2] | 12,096 | [1] | 5,815 | [2] | 64 | |
Operating income (loss) (1) | 2,701 | [1] | 2,497 | [1] | (5,827) | [1] | (2,342) | [1] | (1,475) | (1,430) | (2,826) | (3,478) | (2,971) | [1] | (9,209) | (9,987) | ||||||
Net income (loss) (2) | $ 148 | [3] | $ 27,801 | [3] | $ (5,686) | [3] | $ (1,951) | [3] | (2,158) | (2,069) | (2,068) | (3,868) | $ 20,312 | [3] | $ 20,312 | $ (10,163) | $ (9,263) | |||||
Basic (in dollars per share) | $ 0.02 | $ 2.86 | $ (0.59) | $ (0.20) | $ 2.09 | $ (1.06) | $ (0.97) | |||||||||||||||
Diluted (in dollars per share) | $ 0.02 | $ 2.86 | $ (0.59) | $ (0.20) | $ 2.09 | $ (1.06) | $ (0.97) | |||||||||||||||
Loss from continuing operations | (1,842) | (1,587) | (1,421) | (3,542) | $ 20,312 | $ (8,392) | $ (6,741) | |||||||||||||||
Loss on discontinued operations | $ (316) | $ (482) | $ (647) | $ (326) | $ (1,771) | $ (2,522) | ||||||||||||||||
Continuing operations, basic (in dollars per share) | $ (0.20) | $ (0.16) | $ (0.15) | $ (0.37) | $ 2.09 | $ (0.88) | $ (0.71) | |||||||||||||||
Discontinued operations, basic (in dollars per share) | (0.03) | (0.05) | (0.07) | (0.03) | (0.18) | $ (0.26) | ||||||||||||||||
Net loss per share (in dollars per share) | $ (0.23) | $ (0.21) | $ (0.22) | $ (0.40) | $ (1.06) | |||||||||||||||||
[1] | Operating income for the third quarter of 2018 includes a gain on sale of facility of $2.8 million for the sale of property in Houston, Texas. Operating income for the fourth quarter of 2018 includes a gain on sale of facility of $0.2 million for the sale of the Monterrey, Mexico facility. | |||||||||||||||||||||
[2] | Gross profit for the fourth quarter of 2017 includes a charge of $1.2 million to cost of sales as a result of a change in estimate to workers compensation reserves. | |||||||||||||||||||||
[3] | Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain. |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||
Balance at Beginning of Period | $ 477 | $ 515 | $ 751 | [1] |
Charged to Profit and Loss | 449 | 637 | 295 | |
Deduction from Reserves | (266) | (675) | (531) | |
Balance at End of Period | 660 | 477 | 515 | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
Balance at Beginning of Period | 10,413 | 8,217 | 7,057 | |
Charged to Profit and Loss | 1,785 | 2,196 | 1,160 | |
Deduction from Reserves | (2,765) | |||
Balance at End of Period | $ 9,433 | $ 10,413 | $ 8,217 | |
[1] | Includes amounts that were classified as held for sale. |