Note 7 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment Disclosure [Text Block]

7.	PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,			December 31,
	2019			2018
Land	$	1,426		$	2,251
Buildings and improvements		29,341			30,119
Machinery and equipment		128,766			126,747
Construction in progress		6,363			4,687
		165,896			163,804
Accumulated depreciation		(123,426	)		(119,872	)
Property, plant and equipment, net	$	42,470		$	43,932

Depreciation expense for the

three

months ended

September 30, 2019

and

2018

was

$2.5

million and

$2.8

million, respectively. Depreciation expense for the

nine

months ended

September 30, 2019

and

2018

was

$7.5

million and

$8.9

million, respectively. Depreciation expense related to our manufacturing facilities and equipment is included in cost of sales and depreciation expense associated with administrative facilities and office equipment is included in selling, general and administrative expense within the accompanying condensed consolidated statements of operations.

During the

second

quarter of

2019

, the Company transitioned its manufacturing and warehousing operations from its Inwood, New York facility to Bel’s existing facilities in Glen Rock, Pennsylvania and the Dominican Republic. In connection with this transition, the Company sold its Inwood, New York property during the

second

quarter of

2019

, which resulted in net proceeds of

$5.8

million. The accompanying condensed consolidated statements of operations for the

nine

months ended

September 30, 2019

includes a related gain on sale of

$4.3

million (pre-tax).