BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of activity in the allowance for doubtful accounts

Activity in the allowance for doubtful accounts for 2016, 2015 and 2014 was as follows (in thousands):

	December 31, 2016			December 31, 2015			December 31, 2014
Beginning balance	$	611		$	367		$	802
Additional reserves	167			333			473
Writeoffs	(414		)	(117		)	(882		)
Effect of foreign currency translation	(2		)	28			(26		)
Ending balance	$	362		$	611		$	367

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, 2016			December 31, 2015
Parts and raw materials	$	23,978		$	23,710
Work-in-process	6,628			2,404
Finished goods	4,928			3,730
	35,534			29,844
Less reserves	(4,436		)	(3,669		)
Inventories	$	31,098		$	26,175

Schedule of classification of property, plant and equipment

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

	Useful lives	December 31, 2016			December 31, 2015
Land		$	962		$	970
Building and improvements	5 - 39 years	9,911			9,771
Machinery, equipment, tools and dies	3 - 15 years	44,247			37,782
Furniture, fixtures and other	3 - 10 years	10,088			8,657
		65,208			57,180
Less accumulated depreciation		(27,734		)	(21,865		)
Property, plant and equipment, net		$	37,474		$	35,315

Schedule of changes in the reserve for product warranty claims

Changes in the Company’s reserve for product warranty claims during 2016, 2015 and 2014 were as follows (in thousands):

	December 31,  2016			December 31,  2015			December 31,  2014
Warranty reserve at beginning of the year	$	780		$	786		$	629
Warranty reserves acquired	297			—			—
Provision	(138		)	142			234
Warranty expenditures	(96		)	(123		)	(40		)
Effect of foreign currency translation	(13		)	(25		)	(37		)
Warranty reserve at end of year	$	830		$	780		$	786

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

	December 31,  2016		December 31,  2015
Compensation and fringe benefits	$	7,379	$	7,791
Warranty reserve	830		780
Other accrued expenses	2,469		2,550
	$	10,678	$	11,121

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, 2016 and 2015, respectively, by level within the fair value hierarchy (in thousands):

	December 31, 2016
	Level 1		Level 2			Level 3
Assets (liabilities)
Pension plan assets	$	4,948	$	—		$	—
Other long term assets	3,476		—			—
Interest rate swaps	—		(30		)	—

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