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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)
QUARTERLY FINANCIAL DATA (UNAUDITED)
 
The results of any single quarter are not necessarily indicative of the Company’s results for the full year.  Earnings per share data is computed independently for each of the periods presented.  As a result, the sum of the earnings per share amounts for the quarter may not equal the total for the year.
2015
First (1)
 
Second (2)
 
Third (3)
 
Fourth (4)
Net sales
$
92,475

 
$
97,550

 
$
95,633

 
$
89,438

Gross profit (3,4)
$
17,197

 
$
18,770

 
$
16,626

 
$
16,193

Net (loss) income (1,2,3,4)
$
(1,465
)
 
$
378

 
$
34

 
$
(1,188
)
Amounts per common share:
 
 
 
 
 
 
 
Net (loss) income
$
(0.11
)
 
$
0.03

 
$
—

 
$
(0.09
)
Net (loss) income - assuming dilution
$
(0.11
)
 
$
0.03

 
$
—

 
$
(0.09
)
 
 
 
 
 
 
 
 
2014
First (5)
 
Second (6)
 
Third (7)
 
Fourth (8)
Net sales
$
95,751

 
$
105,937

 
$
97,335

 
$
88,794

Gross profit (6)
$
17,461

 
$
19,134

 
$
22,043

 
$
16,732

Net (loss) income (4,5,6,7)
$
(442
)
 
$
(7,411
)
 
$
1,396

 
$
(22,505
)
Amounts per common share:
 
 
 
 
 
 
 
Net (loss) income
$
(0.03
)
 
$
(0.58
)
 
$
0.11

 
$
(1.76
)
Net (loss) income - assuming dilution
$
(0.03
)
 
$
(0.58
)
 
$
0.11

 
$
(1.76
)

(1)
Included in the net loss for the the first quarter of 2015 were $275 of restructuring expenses.

(2)
Included in the net loss for the the second quarter of 2015 were $518 of restructuring expenses.

(3)
Gross profit in the third quarter of 2015 includes an unfavorable adjustment of $1,738 related to a long-term contract for which a forward loss reserve was established. Net income for the the third quarter of 2015 included a net gain of $3,325 related to a legal settlement and $1,575 of restructuring expenses.

(4) Gross profit in the fourth quarter of 2015 includes an unfavorable forward loss reserve adjustment of $1,010 related to a long-term contract. Net loss for the fourth quarter of 2015 includes a restructuring benefit of $46.

(5) Included in the net loss for the the first quarter of 2014 were $428 of restructuring expenses.

(6)
Net loss in the second quarter of 2014 includes $793 of interest expense related to the termination of interest rate derivatives and $8,340 related to the write-off of debt issuance costs associated with the modification of the Company's revolving credit facility and the termination of its long-term credit agreement. Net loss in the second quarter of 2014 also includes $1,095 of restructuring expenses.

(7)
Gross profit in the third quarter of 2014 includes a $5,286 favorable cumulative catch-up adjustment related to the settlement of an unpriced change order and the Company's ability to secure more favorable future material pricing on a long-term production contract. In addition, net income in the third quarter of 2014 includes $765 of restructuring expenses.

(8)
Net loss in the fourth quarter of 2014 includes a $26,439 goodwill impairment charge related to the Engineering Services reporting unit, $297 of restructuring expenses and a $6,396 income tax benefit resulting from the decision to carry the 2014 tax loss back to previous years.