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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Schedule of income before income taxes

Income before income taxes was generated in the United States and globally as follows:

($ in thousands)		2012				2011
Domestic		$	13,745			$	8,770
Foreign			1,618				2,913
		$	15,363			$	11,683

Schedule of income tax provision

Income tax provision consisted of the following for the years ended December 31:

($ in thousands)		2012				2011
Current:
Federal		$	2,765			$	2,280
State			805				391
Foreign			489				227
			4,059				2,898
Deferred:
Federal			377				213
State			110				129
Foreign			(33	)			171
			454				513
		$	4,513			$	3,411

Schedule of reconciliation of income tax provision and statutory rate

The income tax provision differs from the statutory rate due to the following:

($ in thousands)		2012				2011
Tax expense at statutory rate		$	5,223			$	3,975
Increase (decrease) in tax resulting from:
State income tax, net of federal benefit			694				460
Domestic Production Activities deduction			(415	)			(134	)
Change in uncertain tax position reserves			110				(34	)
Permanent differences			95				285
Intangible tax basis valuation adjustment			0				(546	)
Impact of foreign rate differences and adjustments			(94	)			(665	)
Foreign permanent differences			—				70
Prior year R&D tax credits			(1,100	)			—
		$	4,513			$	3,411

Schedule of net deferred tax assets and liabilities

The net deferred tax assets consisted of the following at December 31:

($ in thousands)		2012				2011
Gross deferred tax assets:
Accrued expenses		$	105			$	143
Reserves on assets			634				709
Inventory			19				19
Stock-based compensation awards			256				211
Minimum pension/post retirement			1,491				1,497
Goodwill and intangibles			—				538
State and local net operating loss carry-forwards			151				184
Deferred state taxes			68				—
Valuation allowances			(120	)			(141	)
			2,604				3,160
Gross deferred tax liabilities:
Deferred state taxes			—				(8	)
Foreign deferral on assets			(138	)			(171	)
Depreciation			(1,084	)			(1,145	)
Goodwill and intangibles			(612	)			19
Prepaid expenses			(561	)			(642	)
			(2,395	)			(1,966	)
Net deferred tax assets		$	209			$	1,194

Schedule of amounts reported in balance sheet

Reconciliation to amounts reported in the balance sheet follows:

($ in thousands)		2012				2011
Net current deferred tax assets included in other current assets		$	475			$	517
Net non-current deferred tax assets			—				848
Net current deferred tax liabilities included in accounts payable and accrued expenses			(138	)			(171	)
Net non-current deferred tax liabilities			(128	)			—
Net deferred tax asset		$	209			$	1,194

Schedule of reconciliation of uncertain tax position

A reconciliation of the beginning and ending amount of uncertain tax position reserves is as follows:

($ in thousands)		2012				2011
Balance as of January 1, 2012		$	49			$	83
Additions for tax positions current year			134				19
Reductions for expirations on tax positions of prior years			(21	)			(53	)
Balance as of December 31, 2012		$	162			$	49

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Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

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