Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Schedule of Change in Accounting Estimate

The following table summarizes the effect of this accounting change on the Company’s consolidated statements of operations for each of the two years ended December 31, 2014 and 2013:

(Dollars in thousands, except per share amounts)	As Originally Reported under LIFO		As Adjusted under FIFO		Effect of Change
2013
Cost of Sales	$	349,782	$	348,945	$	(837	)
Income from continuing operations	$	37,659	$	38,203	$	544
Net income	$	37,761	$	38,305	$	544
Basic earnings per share	$	2.20	$	2.23	$	0.03
Diluted earnings per share	$	2.13	$	2.16	$	0.03
2014
Cost of Sales	$	376,972	$	376,158	$	(814	)
Income from continuing operations	$	52,883	$	53,412	$	529
Net income	$	52,883	$	53,412	$	529
Basic earnings per share	$	2.91	$	2.94	$	0.03
Diluted earnings per share	$	2.83	$	2.86	$	0.03

Schedule of inventory

Inventories consisted of the following:

(Dollars in thousands)	December 31, 2015		December 31, 2014 (1)
Raw materials	$	35,499	$	29,980
Work-in-process	22,804		18,537
Finished goods	33,521		28,289
Total Inventory	$	91,824	$	76,806

(1) Inventory amounts have been adjusted for the 2015 conversion from LIFO to FIFO as discussed above.

Schedule of property, plant and equipment, estimated useful lives

For financial reporting purposes, provisions for depreciation are calculated on a straight‑line basis over the following estimated useful lives of the underlying assets:

	Years
Buildings and improvements	30-40
Machinery and equipment	5-15
Office equipment	3-10

(Dollars in thousands)	December 31, 2015			December 31, 2014
Land	$	16,726		$	14,045
Buildings and improvements	141,082			132,105
Machinery and equipment	191,459			165,979
Office equipment	42,696			36,810
	391,963			348,939
Accumulated depreciation	(237,150		)	(225,092		)
Property, plant and equipment, net	154,813			123,847
Equipment in process	23,848			26,573
Total property, plant and equipment, net	$	178,661		$	150,420

Schedule of calculation of numerator and denominator in earnings per share

The following table sets forth the computation of basic and diluted earnings per share:

(In thousands, except per share amounts)	2015		2014		2013
Numerator:
Net income from continuing operations	$	46,320	$	53,412	$	38,203
Denominator:
Weighted-average shares outstanding - basic	18,371		18,177		17,198
Effect of dilutive shares	309		521		570
Weighted-average shares outstanding - diluted	18,680		18,698		17,768
Basic income from continuing operations per share:	$	2.52	$	2.94	$	2.22
Diluted income from continuing operations per share:	$	2.48	$	2.86	$	2.15