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Product Warranties

6 Months Ended

Jun. 30, 2013

Guarantees [Abstract]

Product Warranties

11. Product Warranties

The Company’s warranty reserve is to cover the products sold and is principally at our Effox and Aarding subsidiaries. The warranty accrual is based on historical claims information. The warranty reserve is reviewed and adjusted as necessary on a quarterly basis. Warranty accrual is not significant at the Company’s other operations due to the nature of the work which includes installation and testing. Accrued warranty expense is included in “Accounts payable and accrued expenses” on our condensed consolidated balance sheets, and the change in accrued warranty expense is summarized in the following table:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(dollars in thousands)		2013				2012				2013				2012
Beginning balance		$	941			$	453			$	531			$	431
Provision			35				147				71				211
Payments			(46	)			(15	)			(112	)			(57	)
Acquisition			0				0				440				0
Ending balance		$	930			$	585			$	930			$	585

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- Definition

The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

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