INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

        The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended
	December 31, 2014		December 31, 2013
Domestic	$	9,484	$	1,406
Foreign		9,139		4,375
Income before income taxes	$	18,623	$	5,781

Schedule of components of the total provision for income taxes

        Components of the total provision for income taxes are as follows (in thousands):

	For the year ended
	December 31, 2014		December 31, 2013
Current provision
Domestic	$	1,917	$	1,179
Foreign		1,126		898
Total current provision		3,043		2,077
Deferred provision
Domestic		1,297		(197	)
Foreign		423		(52	)
Total deferred provision		1,720		(249	)
Provision for income taxes	$	4,763	$	1,828

Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate

        The provision for income taxes differs from the amount determined by applying the federal statutory rate as follows (in thousands):

	For the year ended
	December 31, 2014			December 31, 2013
Tax provision, computed at statutory rate		34.0	%		34.0	%
State tax, net of federal impact		0.6	%		3.7	%
Change in valuation allowance		(4.7	)%		0.0	%
Effect of foreign tax rate differences		(4.5	)%		(9.7	)%
Permanent items, other		(1.2	)%		(0.3	)%
Other		1.4	%		3.9	%
Provision for income taxes		25.6	%		31.6	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

        The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31, 2014			December 31, 2013
Current deferred tax assets:
Allowances and other	$	863		$	1,315
Net operating loss and tax credit carryforwards		2,189			3,628
Total current deferred tax assets		3,052			4,943
Valuation allowance		(1,164	)		(1,982	)
Net current deferred tax assets	$	1,888		$	2,961
Noncurrent deferred tax assets:
Employee benefit plans	$	2,563		$	2,074
Goodwill and Intangibles		1,019			1,553
Property, plant & equipment		(1,441	)		(381	)
Other		582			—
Total noncurrent deferred tax assets	$	2,723		$	3,246
Deferred tax liabilities:
Acquired property, plant and equipment and intangible assets	$	960		$	1,997
Other		339			330
Total deferred tax liabilities	$	1,299		$	2,327