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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | Income before income taxes was generated in the United States and globally as follows:
(Table only in thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Domestic |  | $ | 14,638 |  |  | $ | 5,442 |  |  | $ | 13,745 |
Foreign |  |  | 1,576 |  |  |  | 1,013 |  |  |  | 1,618 |
|  | $ | 16,214 |  |  | $ | 6,455 |  |  | $ | 15,363 |
Schedule of Income Tax Provision | Income tax provision consisted of the following for the years ended December 31:
(Table only in thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,672 |  |  | $ | (1,660 | ) |  | $ | 2,765 |
State |  |  | 947 |  |  |  | (191 | ) |  |  | 805 |
Foreign |  |  | 1,624 |  |  |  | 623 |  |  |  | 489 |
|  |  | 7,243 |  |  |  | (1,228 | ) |  |  | 4,059 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (3,033 | ) |  |  | 1,000 |  |  |  | 377 |
State |  |  | (367 | ) |  |  | 178 |  |  |  | 110 |
Foreign |  |  | (706 | ) |  |  | (52 | ) |  |  | (33 | )
|  |  | (4,106 | ) |  |  | 1,126 |  |  |  | 454 |
|  | $ | 3,137 |  |  | $ | (102 | ) |  | $ | 4,513 |
Schedule of Reconciliation of Income Tax Provision and Statutory Rate | The income tax provision differs from the statutory rate due to the following:
(Table only in thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Tax expense at statutory rate |  | $ | 5,675 |  |  | $ | 2,194 |  |  | $ | 5,223 |
Increase (decrease) in tax resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State income tax, net of federal benefit |  |  | 416 |  |  |  | 311 |  |  |  | 694 |
Domestic Production Activities deduction |  |  | (670 | ) |  |  | (295 | ) |  |  | (415 | )
Change in uncertain tax position reserves |  |  | 388 |  |  |  | 599 |  |  |  | 110 |
Permanent differences |  |  | 58 |  |  |  | 510 |  |  |  | — |
Impact of foreign rate differences and adjustments |  |  | 296 |  |  |  | (295 | ) |  |  | (94 | )
Current and prior years R&D tax credits |  |  | (3,026 | ) |  |  | (3,649 | ) |  |  | (1,100 | )
Other |  |  | — |  |  |  | 112 |  |  |  | 95 |
Non-deductible transaction costs |  |  | — |  |  |  | 411 |  |  |  | — |
|  | $ | 3,137 |  |  | $ | (102 | ) |  | $ | 4,513 |
Schedule of Net Deferred Tax Assets and Liabilities | Deferred income taxes reflect the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and tax credit carry forwards. The net deferred tax liabilities consisted of the following at December 31:
(Table only in thousands) |  | 2014 |  |  | 2013 |
Gross deferred tax assets: |  |  |  |  |  |  |  |
Accrued expenses |  | $ | 106 |  |  | $ | 120 |
Reserves on assets |  |  | 870 |  |  |  | 805 |
Stock-based compensation awards |  |  | 43 |  |  |  | 552 |
Revaluation of debt |  |  | 721 |  |  |  | — |
State, foreign and local net operating loss carry-forwards |  |  | 206 |  |  |  | 242 |
Deferred state taxes |  |  | 885 |  |  |  | — |
Valuation allowances |  |  | (87 | ) |  |  | (149 | )
|  |  | 2,744 |  |  |  | 1,570 |
Gross deferred tax liabilities: |  |  |  |  |  |  |  |
Foreign deferral on assets |  |  | (739 | ) |  |  | (348 | )
Depreciation |  |  | (2,189 | ) |  |  | (3,215 | )
Goodwill and intangibles |  |  | (21,867 | ) |  |  | (24,904 | )
Prepaid expenses |  |  | (719 | ) |  |  | (551 | )
Inventory |  |  | (868 | ) |  |  | (790 | )
Revaluation of debt |  |  | — |  |  |  | (283 | )
Minimum pension / post retirement |  |  | (397 | ) |  |  | (1,423 | )
|  |  | (26,779 | ) |  |  | (31,514 | )
Net deferred liabilities |  | $ | (24,035 | ) |  | $ | (29,944 | )
Schedule of Amounts Reported in Balance Sheet | Reconciliation to amounts reported in the balance sheet follows:
|  | 2014 |  |  | 2013 |
Net current deferred tax assets included in other current assets |  | $ | 1,066 |  |  | $ | 699 |
Net non-current deferred tax assets |  |  | 3,003 |  |  |  | 66 |
Net current deferred tax liabilities included in accounts payable and accrued expenses |  |  | (1,739 | ) |  |  | — |
Net non-current deferred tax liabilities |  |  | (26,365 | ) |  |  | (30,009 | )
Net deferred tax liability |  | $ | (24,035 | ) |  | $ | (29,244 | )
Schedule of Reconciliation of Uncertain Tax Position | A reconciliation of the beginning and ending amount of uncertain tax position reserves included in other liabilities on the Consolidated Balance Sheets is as follows:
(Table only in thousands) |  | 2014 |  |  | 2013 |
Balance as of January 1, |  | $ | 763 |  |  | $ | 162 |
Additions for tax positions current year |  |  | 188 |  |  |  | 120 |
Additions for tax positions taken in prior years |  |  | 266 |  |  |  | 481 |
Reductions for expirations on tax positions of prior years |  |  | (51 | ) |  |  | — |
Balance as of December 31, |  | $ | 1,166 |  |  | $ | 763 |

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- Definition 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=6907707&loc=d3e32639-109319 + Details
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