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Inventories (Tables) | 12 Months Ended
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Dec. 31, 2018
Inventory |
Schedule of Inventory | The Company's components of inventory are summarized in the following table:
|  | December 31, |  |
|  | 2018 |  | 2017 (as adjusted)
Finished goods |  | $ | 69,041 |  | $ | 55,846
Contract assets |  | 26,692 |  | 25,320
Work-in-process |  | 6,940 |  | 4,059
Raw materials |  | 21,831 |  | 17,505
Inventories - net |  | $ | 124,504 |  | $ | 102,730
Reclassified |
Inventory |
Schedule of Inventory | As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying financial statements were adjusted, as follows:
|  | December 31, 2018 |  |  |  |  |  | December 31, 2017 |  |  |  |
|  | As computed under LIFO |  | Effect of change |  | As reported under average cost |  | As originally reported under LIFO |  | Effect of change |  | As reported under average cost
Consolidated Balance Sheets |  |  |  |  |  |  |  |  |  |  |  |
Inventories - net |  | $ | 112,683 |  | $ | 11,821 |  | $ | 124,504 |  | $ | 97,543 |  | $ | 5,187 |  | $ | 102,730
Other accrued liabilities |  | 12,534 |  | 1,090 |  | 13,624 |  | 9,764 |  | — |  | 9,764
Deferred tax liabilities |  | 5,287 |  | — |  | 5,287 |  | 9,744 |  | (2,830) |  | 6,914
Retained earnings |  | $ | 103,593 |  | $ | 10,731 |  | $ | 114,324 |  | $ | 137,780 |  | $ | 8,017 |  | $ | 145,797
|  | Year Ended December 31, 2018 |  |  |  |  |  | Year Ended December 31, 2017 |  |  |  |
|  | As computed under LIFO |  | Effect of change |  | As reported under average cost |  | As originally reported under LIFO |  | Effect of change |  | As reported under average cost
Consolidated Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |
Total cost of sales |  | $ | 516,444 |  | $ | (6,634) |  | $ | 509,810 |  | $ | 433,125 |  | $ | (2,009) |  | $ | 431,116
(Loss) income before income taxes |  | (33,345) |  | 6,634 |  | (26,711) |  | 8,042 |  | 2,009 |  | 10,051
Income tax expense |  | 537 |  | 3,920 |  | 4,457 |  | 3,929 |  | 761 |  | 4,690
Net (loss) income |  | $ | (33,882) |  | $ | 2,714 |  | $ | (31,168) |  | $ | 4,113 |  | $ | 1,248 |  | $ | 5,361
Basic (loss) earnings per common share |  | $ | (3.27) |  | $ | 0.26 |  | $ | (3.01) |  | $ | 0.40 |  | $ | 0.12 |  | $ | 0.52
Diluted (loss) earnings per common share |  | $ | (3.27) |  | $ | 0.26 |  | $ | (3.01) |  | $ | 0.39 |  | $ | 0.12 |  | $ | 0.51
Consolidated Statements of Comprehensive (Loss) Income |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (33,882) |  | $ | 2,714 |  | $ | (31,168) |  | $ | 4,113 |  | $ | 1,248 |  | $ | 5,361
Other comprehensive (loss) income |  | (4,424) |  | — |  | (4,424) |  | 7,522 |  | — |  | 7,522
Comprehensive (loss) income |  | $ | (38,306) |  | $ | 2,714 |  | $ | (35,592) |  | $ | 11,635 |  | $ | 1,248 |  | $ | 12,883
Consolidated Statements of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (33,882) |  | $ | 2,714 |  | $ | (31,168) |  | $ | 4,113 |  | $ | 1,248 |  | $ | 5,361
Deferred income taxes |  | (4,428) |  | 2,830 |  | (1,598) |  | (1,983) |  | 761 |  | (1,222)
Inventories |  | (16,769) |  | (6,634) |  | (23,403) |  | (12,648) |  | (2,009) |  | (14,657)
Other current liabilities |  | $ | 2,956 |  | $ | 1,090 |  | $ | 4,046 |  | $ | (588) |  | $ | — |  | $ | (588)
As a result of the retrospective application of the change in inventory accounting principle, the following financial statement line items within the unaudited interim 2018 and 2017 quarterly condensed consolidated financial statements were adjusted, as follows:
|  | Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2018 |  |  |  |  |  | June 30, 2018 |  |  |  |  |  | September 30, 2018 |  |  |  |
|  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost |  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost |  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost
Consolidated Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cost of sales |  | $ | 100,426 |  | $ | (164) |  | $ | 100,262 |  | $ | 140,376 |  | $ | (549) |  | $ | 139,827 |  | $ | 137,492 |  | $ | (1,701) |  | $ | 135,791
(Loss) income before income taxes |  | (1,497) |  | 164 |  | (1,333) |  | 5,613 |  | 549 |  | 6,162 |  | 4,725 |  | 1,701 |  | 6,426
Income tax expense (benefit) |  | 525 |  | — |  | 525 |  | 673 |  | 55 |  | 728 |  | (246) |  | 264 |  | 18
Net (loss) income |  | $ | (2,022) |  | $ | 164 |  | $ | (1,858) |  | $ | 4,940 |  | $ | 494 |  | $ | 5,434 |  | $ | 4,971 |  | $ | 1,437 |  | $ | 6,408
Basic (loss) earnings per common share |  | $ | (0.20) |  | $ | 0.02 |  | $ | (0.18) |  | $ | 0.48 |  | $ | 0.04 |  | $ | 0.52 |  | $ | 0.48 |  | $ | 0.14 |  | $ | 0.62
Diluted (loss) earnings per common share |  | $ | (0.20) |  | $ | 0.02 |  | $ | (0.18) |  | $ | 0.47 |  | $ | 0.05 |  | $ | 0.52 |  | $ | 0.47 |  | $ | 0.14 |  | $ | 0.61
|  | Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2017 |  |  |  |  |  | June 30, 2017 |  |  |  |  |  | September 30, 2017 |  |  |  |  |  |  |  |  |  |
|  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost |  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost |  | As originally reported under LIFO |  | Effect of change |  | As adjusted under average cost |  |  |  |  |  |
Consolidated Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cost of sales |  | $ | 97,450 |  | $ | 11 |  | $ | 97,461 |  | $ | 117,124 |  | $ | (192) |  | $ | 116,932 |  | $ | 105,127 |  | $ | (1,552) |  | $ | 103,575 |  |  |  |  |  |
(Loss) income before income taxes |  | (1,991) |  | (11) |  | (2,002) |  | 3,499 |  | 192 |  | 3,691 |  | 3,014 |  | 1,552 |  | 4,566 |  |  |  |  |  |
Income tax expense (benefit) |  | 431 |  | — |  | 431 |  | 475 |  | — |  | 475 |  | (208) |  | 274 |  | 66 |  |  |  |  |  |
Net (loss) income |  | $ | (2,422) |  | $ | (11) |  | $ | (2,433) |  | $ | 3,024 |  | $ | 192 |  | $ | 3,216 |  | $ | 3,222 |  | $ | 1,278 |  | $ | 4,500 |  |  |  |  |  |
Basic (loss) earnings per common share |  | $ | (0.23) |  | $ | (0.01) |  | $ | (0.24) |  | $ | 0.29 |  | $ | 0.02 |  | $ | 0.31 |  | $ | 0.31 |  | $ | 0.13 |  | $ | 0.44 |  |  |  |  |  |
Diluted (loss) earnings per common share |  | $ | (0.23) |  | $ | (0.01) |  | $ | (0.24) |  | $ | 0.29 |  | $ | 0.02 |  | $ | 0.31 |  | $ | 0.31 |  | $ | 0.12 |  | $ | 0.43 |  |  |  |  |  |

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