BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of activity in the allowance for doubtful accounts

Activity in the allowance for doubtful accounts for 2017, 2016 and 2015 was as follows (in thousands):

	December 31,
	2017			2016			2015
Beginning balance	$	362		$	611		$	367
Additional reserves	39			167			333
Writeoffs	(61		)	(414		)	(117		)
Effect of foreign currency translation	1			(2		)	28
Ending balance	$	341		$	362		$	611

Schedule of inventories including costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value

Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value, as follows (in thousands):

	December 31,
	2017			2016
Parts and raw materials	$	24,910		$	23,978
Work-in-process	5,984			6,628
Finished goods	6,075			4,928
	36,969			35,534
Less reserves	(4,401		)	(4,436		)
Inventories	$	32,568		$	31,098

Schedule of classification of property, plant and equipment

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

		December 31,
	Useful lives	2017			2016
Land		$	993		$	962
Building and improvements	5 - 39 years	10,678			9,911
Machinery, equipment, tools and dies	3 - 15 years	49,083			44,247
Furniture, fixtures and other	3 - 10 years	12,931			10,088
		73,685			65,208
Less accumulated depreciation		(35,282		)	(27,734		)
Property, plant and equipment, net		$	38,403		$	37,474

Schedule of changes in the reserve for product warranty claims

Changes in the Company’s reserve for product warranty claims during 2017, 2016 and 2015 were as follows (in thousands):

	December 31,
	2017			2016			2015
Warranty reserve at beginning of the year	$	830		$	780		$	786
Warranty reserves acquired	—			297			—
Provision	234			(138		)	142
Warranty expenditures	(200		)	(96		)	(123		)
Effect of foreign currency translation	58			(13		)	(25		)
Warranty reserve at end of year	$	922		$	830		$	780

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

	December 31,
	2017		2016
Compensation and fringe benefits	$	7,459	$	7,379
Warranty reserve	922		830
Income taxes payable	2,397		183
Other accrued expenses	3,492		2,286
	$	14,270	$	10,678

Schedule of financial assets and liabilities that are accounted for at fair value on a recurring basis

The following table presents the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2017 and 2016, respectively, by level within the fair value hierarchy (in thousands):

	December 31, 2017
	Level 1		Level 2		Level 3
Assets (liabilities)
Pension plan assets	$	5,362	$	—	$	—
Other long term assets	3,929		—		—
Interest rate swaps	—		196		—

	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		)	—