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Discontinued Operations
 12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued operations

On February 14, 2014, the Company completed the sale of substantially all of the assets of Automatic Screw Machine Products Company, Inc. ("ASMP"), a wholly-owned subsidiary, to Nelson Stud Welding, Inc. (“Buyer”), an indirect subsidiary of Doncasters Group Limited, for a purchase price of $12.5 million plus the assumption of certain liabilities. In addition, the Buyer agreed to lease the real property located in Decatur, Alabama where ASMP was located. The Company has classified ASMP's operating results as discontinued operations for all periods presented.

The following table details the components of income from discontinued operations:
 
 
(Dollars in thousands)
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Net sales of ASMP
 
$
2,462

 
$
18,534

 
$
16,925

 
 
 
 
 
 
 
Pre-tax operating income from discontinued operations
 
 
 
 
 
 
ASMP
 
$
346

 
$
2,801

 
$
2,118

Other discontinued operations
 
—

 
40

 
167

Total pre-tax income
 
346

 
2,841

 
2,285

Income tax expense
 
133

 
980

 
802

Net income from discontinued operations
 
$
213

 
$
1,861

 
$
1,483

 
 
 
 
 
 
 
Sale of discontinued operations
 
 
 
 
 
 
Pre-tax gain on sale of ASMP
 
$
1,877

 
$
—

 
$
—

Income tax expense
 
398

 
—

 
—

Net gain on sale of ASMP
 
$
1,479

 
$
—

 
$
—

 
 
 
 
 
 
 
Income from discontinued operations, net of taxes
 
$
1,692

 
$
1,861

 
$
1,483

 
 
 
 
 
 
 
Basic and diluted income per share
 
 
 
 
 
 
ASMP
 
$
0.20

 
$
0.21

 
$
0.15

Other discontinued operations
 
—

 
0.01

 
0.03

Total
 
$
0.20

 
$
0.22

 
$
0.18