Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

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 the year ended December 31, 2014:

(Dollars in thousands, except per share amounts)	As Originally Reported under LIFO		As Adjusted under FIFO		Effect of Change
Cost of sales	$	376,972	$	376,158	$	(814	)
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:

	As of December 31,
(Dollars in thousands)	2016		2015
Raw materials	$	29,788	$	35,499
Work-in-process	26,440		22,804
Finished goods	34,902		33,521
Total inventories	$	91,130	$	91,824

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

	As of December 31,
(Dollars in thousands)	2016			2015
Land	$	15,855		$	16,726
Buildings and improvements	138,493			141,082
Machinery and equipment	220,238			191,459
Office equipment	54,013			42,696
	428,599			391,963
Accumulated depreciation	(259,178		)	(237,150		)
Property, plant and equipment, net	169,421			154,813
Equipment in process	7,495			23,848
Total property, plant and equipment, net	$	176,916		$	178,661

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:

	Years Ended December 31,
(In thousands, except per share amounts)	2016		2015		2014
Numerator:
Net income	$	48,283	$	46,320	$	53,412
Denominator:
Weighted-average shares outstanding - basic	17,991		18,371		18,177
Effect of dilutive shares	232		309		521
Weighted-average shares outstanding - diluted	18,223		18,680		18,698
Basic earnings per share:	$	2.68	$	2.52	$	2.94
Diluted earnings per share:	$	2.65	$	2.48	$	2.86