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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

INCOME TAXES [Abstract]

Income Before Income Taxes

The components of income before income taxes are as follows (in thousands):

		Years Ended December 31,
		2016				2015				2014
Domestic		$	11,079			$	(42,179	)		$	(21,349	)
Foreign			(1,405	)			3,259				(4,207	)
Total income before taxes		$	9,674			$	(38,920	)		$	(25,556	)

Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

		Years Ended December 31,
		2016				2015				2014
Current -
Federal		$	(902	)		$	5,182			$	24,050
State			136				1,499				5,604
Foreign			602				2,493				2,150
			(164	)			9,174				31,804
Deferred -
Federal			4,174				(7,090	)			(10,544	)
State			120				-				(1,769	)
Foreign			(1,607	)			(1,934	)			191
			2,687				(9,024	)			(12,122	)
		$	2,523			$	150			$	19,682

Difference between Income Taxes Computed at the Federal Statutory Income Tax Rate and the Provision for Income Taxes

The difference between income taxes computed at the federal statutory income tax rate (35%) and the provision for income taxes is as follows (in thousands):

		Years Ended December 31,
		2016				2015				2014
Income taxes computed at federal statutory rate		$	3,386			$	(13,622	)		$	(8,945	)
State income taxes, net of federal benefit			166				974				2,492
Non-tax deductible impairment expense computed at federal statutory rate			-				15,765				24,444
Foreign adjustment			140				689				1,353
Meals and entertainment			361				620				801
Gain on sale of Vertex			(1,971	)			-				-
Domestic Production Activity Deduction			-				(1,143	)			(1,040	)
Research and development tax credit			(886	)			(1,730	)			(587	)
Foreign tax credit			(383	)			(921	)			(343	)
Provision to return adjustments			927				-				-
Other			783				(482	)			1,507
		$	2,523			$	150			$	19,682

Net Current and Noncurrent Components of Deferred Income Tax Balances

The net current and noncurrent components of deferred income tax balances are as follows (in thousands):

		December 31,
		2016				2015
Net current assets		$	9,473			$	8,996
Net non-current liabilities			(18,986	)			(6,312	)
Net assets (liabilities)		$	(9,513	)		$	2,684

Deferred tax liabilities and assets were comprised of the following (in thousands):

		December 31,
		2016				2015
Deferred tax assets:
Goodwill		$	4,029			$	9,136
Allowance for doubtful accounts			2,469				2,692
Inventories			3,944				3,312
Accruals			1,978				2,354
Research and development credit carryforward			886				-
Net operating loss carryforward			760				730
Cumulative translation adjustment			-				8,605
Capital loss carryforward			18,903				-
Other			309				730
Total deferred tax assets			33,278				27,559
Less valuation allowance			(19,633	)			(730	)
Total deferred tax asset, net of valuation Deferred tax liabilities			13,645				26,829
Intangibles			(10,042	)			(13,314	)
Property and equipment			(12,762	)			(10,824	)
Unremitted foreign earnings			(354	)			(259	)
Other			-				252
Net deferred tax asset (liability)		$	(9,513	)		$	2,684

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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