Property, Plant and Equipment

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	March 31, 2015			December 31, 2014
	(000’s omitted)
Land	$	21		$	21
Buildings		7,938			7,916
Machinery, equipment and tooling		13,776			13,530
Construction in progress		2,828			2,817
		24,563			24,284
Less accumulated depreciation and amortization		(15,068	)		(14,909	)
Total property, plant and equipment	$	9,495		$	9,375

Property, plant and equipment includes land and building in Elma, New York, that was previously under a $5,000,000 capital lease and was purchased on December 1, 2014 for a nominal amount. As of March 31, 2015 and December 31, 2014, accumulated depreciation on the building amounted to approximately $2,844,000 and $2,811,000, respectively. The associated current and long-term liabilities are discussed in Note 5, Long-Term Debt, of the accompanying consolidated financial statements.

Depreciation and amortization expense amounted to $163,000 and $169,000 for the three month periods ended March 31, 2015 and 2014, respectively. 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 March 31, 2015, there is approximately $2,528,000 of construction in progress included in property, plant and equipment related to facility expansion and renovation project at the Consumer Products Group and $300,000 related to capital projects at the Advanced Technology Group. At December 31, 2014 there was approximately $2,817,000 of construction in progress related to these projects. See Note 7, Commitments and Contingencies, of the accompanying consolidated financial statements.