BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of activity in the allowance for doubtful accounts

Activity in the allowance for doubtful accounts for 2018, 2017 and 2016 was as follows (in thousands):

	December 31, 2018		December 31, 2017		December 31, 2016
Beginning balance	$	341	$	362	$	611
Additional reserves		192		39		167
Writeoffs		—		(61)		(414)
Effect of foreign currency translation		(3)		1		(2)
Ending balance	$	530	$	341	$	362

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, 2018		December 31, 2017
Parts and raw materials	$	34,449	$	20,509
Work-in-process		7,557		5,984
Finished goods		12,965		6,075
Inventories	$	54,971	$	32,568

Schedule of classification of property, plant and equipment

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

		December 31,		December 31,
	Useful lives	2018		2017
Land		$	981	$	993
Building and improvements	5 - 39 years		13,054		10,678
Machinery, equipment, tools and dies	3 - 15 years		60,755		49,083
Furniture, fixtures and other	3 - 10 years		15,571		12,931
			90,361		73,685
Less accumulated depreciation			(42,326)		(35,282)
Property, plant and equipment, net		$	48,035	$	38,403

Schedule of changes in the reserve for product warranty claims

Changes in the Company’s reserve for product warranty claims during 2018, 2017 and 2016 were as follows (in thousands):

	December 31,		December 31,		December 31,
	2018		2017		2016
Warranty reserve at beginning of the year	$	922	$	830	$	780
Warranty reserves acquired		117		—		297
Provision		(13)		234		(138)
Warranty expenditures		(34)		(200)		(96)
Effect of foreign currency translation		(21)		58		(13)
Warranty reserve at end of year	$	971	$	922	$	830

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

	December 31,		December 31,
	2018		2017
Compensation and fringe benefits	$	11,642	$	7,459
Warranty reserve		971		922
Income taxes payable		1,182		2,397
Other accrued expenses		4,927		3,492
	$	18,722	$	14,270

Schedule of financial assets that are 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, 2018 and 2017, respectively, by level within the fair value hierarchy (in thousands):

	December 31, 2018
	Level 1		Level 2		Level 3
Assets (liabilities)
Pension plan assets	$	5,231	$	—	$	—
Other long-term assets		3,962		—		—
Interest rate swaps		—		434		—

	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		—