BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of activity in the allowance for doubtful accounts

Activity in the allowance for doubtful accounts for 2015, 2014 and 2013 was as follows (in thousands):

	December 31, 2015			December 31, 2014			December 31, 2013
Beginning balance	$	367		$	802		$	177
Allowance for doubtful accounts acquired	—			—			460
Additional reserves	333			473			158
Writeoffs	(117		)	(882		)	1
Effect of foreign currency translation	28			(26		)	6
Ending balance	$	611		$	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, 2015			December 31, 2014
Parts and raw materials	$	23,710		$	21,573
Work-in-process	2,404			2,924
Finished goods	3,730			4,403
	29,844			28,900
Less reserves	(3,669		)	(3,529		)
Inventories, net	$	26,175		$	25,371

Schedule of classification of property, plant and equipment

Property, plant and equipment is classified as follows (in thousands):

	Useful lives	December 31, 2015			December 31, 2014
Land		$	970		$	996
Building and improvements	5 - 39 years	9,771			9,324
Machinery, equipment, tools and dies	3 - 15 years	37,782			37,426
Furniture, fixtures and other	3 - 10 years	8,657			6,778
		57,180			54,524
Less accumulated depreciation		(21,865		)	(17,483		)
Property, plant and equipment, net		$	35,315		$	37,041

Schedule of changes in the reserve for product warranty claims

Changes in the Company’s reserve for product warranty claims during 2015, 2014 and 2013 were as follows (in thousands):

	December 31, 2015			December 31, 2014			December 31, 2013
Warranty reserve at beginning of the year	$	786		$	629		$	551
Warranty reserves acquired	—			—			429
Provision	142			234			175
Warranty expenditures	(123		)	(40		)	(529		)
Effect of foreign currency translation	(25		)	(37		)	3
Warranty reserve at end of year	$	780		$	786		$	629

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

	December 31, 2015		December 31, 2014
Compensation and fringe benefits	$	7,791	$	9,696
Warranty reserve	780		786
Other accrued expenses	2,550		2,241
	$	11,121	$	12,723

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, 2015 and 2014, respectively, by level within the fair value hierarchy (in thousands):

	December 31, 2015
	Level 1		Level 2			Level 3
Assets
Pension Plan Assets	$	4,986	$	—		$	—
Other long term assets	2,631		—			—
Interest rate swaps	—		(27		)	—

	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		)	—