Property, Plant and Equipment

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	June 30,			December 31,
	2018			2017
	($000's omitted)
Land	$	7		$	7
Buildings		10,384			10,288
Machinery, equipment and tooling		18,007			17,249
Construction in progress		776			665
		29,174			28,209
Less accumulated depreciation		(17,672	)		(17,188	)
	$	11,502		$	11,021

As previously disclosed, the Company through a wholly-owned subsidiary, entered into a contract to sell unused commercial real property in Franklinville, New York for approximately $180,000. The sale transaction closed on March 9, 2017 and the wholly-owned subsidiary recognized a de minimis loss on the sale.

Depreciation and amortization expense amounted to approximately $502,000 and $428,000 for the six months ended June 30, 2018 and 2017, respectively. Depreciation and amortization expense amounted to approximately $244,000 and $218,000 for the 3 months ended June 30, 2018 and 2017, respectively. Depreciation expense amounted to approximately $465,000 and $421,000 for the six months ended June 30, 2018 and 2017, respectively. Depreciation expense amounted to approximately $224,000 and $215,000 for the 3 months ended June 30, 2018 and 2017, respectively. Amortization expense primarily related to capital leases amounted to approximately $37,000 and $7,000 for the six months ended June 30, 2018 and June 30, 2017, respectively. Amortization expense amounted to approximately $20,000 and $3,000 for the three months ended June 30, 2018 and June 30, 2017. The Company believes that it maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.

As of June 30, 2018, there is approximately $776,000 ($665,000 – 2017) of construction in progress included in property, plant and equipment all of which is related to capital projects, primarily the implementation costs for the enterprise resource planning software that will be used as an integral part of the product in the process at the Advanced Technology Group (“ATG”) and the Consumer Products Group (“CPG”). See Note 7, Commitments and Contingencies, for more information on anticipated capital expenditures.