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BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2014
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of activity in the allowance for doubtful accounts | Activity in the allowance for doubtful accounts for 2014 and 2013 was as follows (in thousands):
|  | December 31, 2014 |  | December 31, 2013 |
Beginning balance |  | $ | 802 |  | $ | 177 |
Allowance for doubtful accounts acquired |  |  | — |  |  | 460 |
Additional reserves |  |  | 473 |  |  | 158 |
Writeoffs |  |  | (882 | ) |  | 1 |
Effect of foreign currency translation |  |  | (26 | ) |  | 6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance |  | $ | 367 |  | $ | 802 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of inventories including costs of materials, direct labor and manufacturing overhead, and stated at the lower of cost (first-in, first-out basis) or market | Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or market, as follows (in thousands):
|  | December 31, 2014 |  | December 31, 2013 |
Parts and raw materials |  | $ | 21,573 |  | $ | 20,649 |
Work-in-process |  |  | 2,924 |  |  | 3,369 |
Finished goods |  |  | 4,403 |  |  | 4,350 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 28,900 |  |  | 28,368 |
Less reserves |  |  | (3,529 | ) |  | (3,938 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Inventories, net |  | $ | 25,371 |  | $ | 24,430 |
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Schedule of classification of property, plant and equipment | Property, plant and equipment is classified as follows (in thousands):
|  | Useful lives |  | December 31, 2014 |  | December 31, 2013 |
Land |  |  |  | $ | 996 |  | $ | 654 |
Building and improvements |  | 5 - 39 years |  |  | 9,324 |  |  | 9,748 |
Machinery, equipment, tools and dies |  | 3 - 15 years |  |  | 37,426 |  |  | 40,237 |
Furniture, fixtures and other |  | 3 - 10 years |  |  | 6,778 |  |  | 4,544 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  |  |  | 54,524 |  |  | 55,183 |
Less accumulated depreciation |  |  |  |  | (17,483 | ) |  | (15,072 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property, plant and equipment, net |  |  |  | $ | 37,041 |  | $ | 40,111 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of changes in the reserve for product warranty claims | Changes in the Company's reserve for product warranty claims during 2014 and 2013 were as follows (in thousands):
|  | December 31, 2014 |  | December 31, 2013 |
Warranty reserve at beginning of the year |  | $ | 629 |  | $ | 551 |
Warranty reserves acquired |  |  | — |  |  | 429 |
Provision |  |  | 234 |  |  | 175 |
Warranty expenditures |  |  | (40 | ) |  | (529 | )
Effect of foreign currency translation |  |  | (37 | ) |  | 3 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warranty reserve at end of year |  | $ | 786 |  | $ | 629 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of accrued liabilities | Accrued liabilities consist of the following (in thousands):
|  | December 31, 2014 |  | December 31, 2013 |
Compensation and fringe benefits |  | $ | 9,696 |  | $ | 6,721 |
Warranty reserve |  |  | 786 |  |  | 629 |
Other accrued expenses |  |  | 1,848 |  |  | 2,548 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 12,330 |  | $ | 9,898 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of financial assets accounted for at fair value on a recurring basis | The following table presents the Company's financial assets that are accounted for at fair value on a recurring basis as of December 31, 2014 and December 31, 2013, respectively, by level within the fair value hierarchy (in thousands):
|  | December 31, 2014 |
|  | Level 1 |  | Level 2 |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |  |
Pension Plan Assets |  | $ | 5,095 |  | $ | — |  | $ | — |
Other long term assets |  |  | 2,162 |  |  | — |  |  | — |
Interest rate swaps |  |  | — |  |  | (2 | ) |  | — |
|  | December 31, 2013 |
|  | Level 1 |  | Level 2 |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |  |
Pension Plan Assets |  | $ | 4,847 |  | $ | — |  | $ | — |
Other long term assets |  |  | 2,595 |  |  | — |  |  | — |
Interest rate swaps |  |  | — |  |  | 41 |  |  | — |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + 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 + Details
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