Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense for Continuing Operations

The components of income tax expense for continuing operations are as follows:

	Year Ended December 31,
	2014			2013			2012
	(in thousands)
Current:
Federal	$	4,336		$	9,097		$	8,409
State		334			690			278
Total current tax expense		4,670			9,787			8,687
Deferred:
Federal		305			2,631			(416	)
State		(324	)		(60	)		117
Total deferred tax expense (benefit)		(19	)		2,571			(299	)
	$	4,651		$	12,358		$	8,388

Schedule of Effective Income Tax Rate Reconciliation

The difference between the Company’s effective income tax rates and the statutory United States federal income tax rate of 35% is explained as follows:

	Year Ended December 31,
	2014			2013			2012
	(in thousands)
Provision (benefit) at statutory rate of 35%	$	(532	)	$	11,921		$	9,083
State provision, net of federal benefit		(96	)		370			601
Federal and state tax credits		(91	)		(525	)		(379	)
Domestic manufacturing deduction		—			(641	)		(762	)
Change in valuation allowance		9			954			—
Uncertain tax positions		5			(7	)		(67	)
Goodwill impairment (nondeductible)		5,623			—			—
Nondeductible expenses		207			345			247
Nontaxable adjustment to contingent consideration		(611	)		—			—
Other		137			(59	)		(335	)
	$	4,651		$	12,358		$	8,388
Effective tax rate		305.6	%		36.3	%		32.4	%

Schedule of Current and Noncurrent Deferred Tax Assets and Liabilities

The tax effect of temporary differences that give rise to significant portions of deferred tax assets and liabilities is presented below:

	December 31,
	2014			2013
	(in thousands)
Current deferred tax assets:
Costs and estimated earnings in excess of billings on uncompleted contracts, net	$	2,186		$	2,384
Accrued employee benefits		841			951
Inventories		1,937			2,671
Trade receivable, net		372			319
Net operating loss carryforwards		93			500
Other		1,299			520
		6,728			7,345
Valuation allowance		(719	)		(500	)
		6,009			6,845
Current deferred tax liabilities:
Prepaid expenses		(522	)		(637	)
Current deferred tax assets, net		5,487			6,208
Noncurrent deferred tax assets:
Net operating loss carryforwards		489			211
Tax credit carryforwards		996			478
Accrued employee benefits		4,483			3,740
Other assets		6,067			5,520
Other		142			138
		12,177			10,087
Valuation allowance		(1,139	)		(1,394	)
		11,038			8,693
Noncurrent deferred tax liabilities:
Property and equipment		(23,903	)		(19,343	)
Intangible assets		(1,150	)		(1,192	)
Noncurrent deferred tax liabilities, net		(14,015	)		(11,842	)
Net deferred tax liabilities	$	(8,528	)	$	(5,634	)

Schedule of Unrecognized Tax Benefits

A summary of the changes in the unrecognized tax benefits during the years ended December 31, 2014, 2013 and 2012 is presented below (in thousands):

	2014			2013			2012
Unrecognized tax benefits, beginning of year	$	6,207		$	5,245		$	309
Decreases for settlements		(3,265	)		—			—
Decreases for lapse in statute of limitations		(115	)		—			—
Decreases for positions taken in current year		(615	)		—			—
Increases for positions taken in prior years		101			646			3,571
Decreases for positions taken in prior years		—			(696	)		(184	)
Increases for positions taken in the current year		—			1,012			1,549
Unrecognized tax benefits, end of year	$	2,313		$	6,207		$	5,245