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Stock Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of the components of stock-based compensation expense in the condensed consolidated statements of operations
The following table summarizes the components of stock-based compensation expense in the consolidated statements of (loss) income for the year ended December 31, 2019, 2018, and 2017 were as follows:
 
(in thousands)Year Ended Year Ended
December 31, 2019		Year Ended Year Ended
December 31, 2018		Year Ended Year Ended
December 31, 2017
Cost of sales$142  $191  $191  
Selling, general, and administrative expenses2,384  2,413  2,127  
Research and development expenses188  293  299  
Total$2,714  $2,897  $2,617  
Summary of the status of time-based stock options A summary of the status of the Company’s time-based stock options (“Options”) for the years ended December 31, 2019 and 2018 were as follows:
 
Number of
Share
Underlying
Awards
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual
Term (years)
Outstanding at January 1, 2018926,898  $8.72  8.18
Granted201,535  7.15  9.37
Exercised—  —  0
Forfeited or expired(146,109) 4.66  8.63
Outstanding at December 31, 2018982,324  $9.38  7.18
Exercisable at December 31, 2018721,869  10.57  6.78
Vested and expected to vest at December 31, 2018982,324  $9.38  7.18
Outstanding at January 1, 2019982,324  $9.38  7.18
Granted324,450  3.34  9.25
Exercised—  —  0
Forfeited or expired(498,954) 10.17  6.27
Outstanding at December 31, 2019807,820  $6.44  7.69
Exercisable at December 31, 2019403,831  8.66  6.48
Vested and expected to vest at December 31, 2019807,820  $6.44  7.69
Schedule of fair value assumptions
Year Ended December 31,
2019		Year Ended December 31,
2018
Weighted average grant date fair value$1.72  $3.54  
Risk-free interest rate2.27%  2.56%  
Expected life (years)6.006.00
Estimated volatility factor52.33%  47.52%  
Expected dividendsNone  None  
The assumptions used to value the SARs as of their issuance dates and as of December 31, 2019 are presented below:
 
At issuanceAs of December 31,
2019		As of December 31,
2018
Fair value of awards$1.86  $0.17  $0.29  
Risk-free interest rate1.74  -  2.98 %1.61  -  1.71%  2.47 %
Expected life (years)5.83-6.502.84-5.223.34
Estimated volatility factor47.52  -  48.00 %52.33  -  54.50%  48.22 %
Expected dividendsNone  None  None  
Summary of the time-based SARs A summary of the Company’s time-based SARs as of December 31, 2019 is as follows:
 
Number
of
Awards
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual
Term (years)
Outstanding at January 1, 2018  75,625  $9.83  7.75
Granted30,300  7.35  9.24
Exercised—  —  0
Forfeited or expired—  —  0
Outstanding at December 31, 2018105,925  9.12  6.75
Exercisable at December 31, 2018103,125  8.92  6.68
Vested and expected to vest at December 31, 2018105,925  $9.12  6.75
Outstanding at January 1, 2019105,925  $9.12  6.75
Granted5,450  3.34  9.25
Exercised—  —  0
Forfeited or expired(27,500) 12.00  5.67
Outstanding at December 31, 201983,875  $8.90  6.00
Exercisable at December 31, 201976,558  9.42  5.72
Vested and expected to vest at December 31, 201983,875  $8.90  6.00
Schedule of unvested performance shares A summary of the Company’s restricted stock awards as of December 31, 2019 is as follows: 
 
Number of
Shares
Weighted-Average
Grant Date Fair 
Value
Non-vested Restricted Stock & RSUs at January 1, 2018444,807  $5.35  
Granted554,699  7.06  
Vested(152,538) 5.30  
Forfeited or expired(178,272) 5.43  
Non-vested Restricted Stock & RSUs at December 31, 2018668,696  $6.76  
Non-vested Restricted Stock & RSUs at January 1, 2019668,696  $6.76  
Granted853,650  3.13  
Vested(267,249) 5.48  
Forfeited or expired(239,275) 4.47  
Non-vested Restricted Stock and RSUs at December 31, 20191,015,822  $4.26  
A summary of the Company’s Phantom Stock Awards as of December 31, 2019 is as follows:
 
Number of
Awards
Weighted-Average
Grant Date Fair 
Value
Non-vested phantom stock awards at January 1, 201878,800  $5.91  
Granted 65,450  7.35  
Vested(17,519) 4.70  
Forfeited or expired(14,548) 7.68  
Non-vested phantom stock awards at December 31, 2018112,183  $6.71  
Non-vested phantom stock awards at January 1, 2019112,183  $6.71  
Granted 136,450  3.09  
Vested(43,219) 5.41  
Forfeited or expired(22,532) 4.51  
Non-vested phantom stock awards at December 31, 2019182,882  $4.30  
Schedule of fair value assumptions
The fair value of the Director Shares was estimated using a Monte Carlo Simulation Model that used the following assumptions:
 
Risk-free interest rate1.96%  
Expected life (years)6.47
Estimated volatility factor31.16%  
Expected dividendsNone  
Schedule of nonvested shares A summary of the Company’s time-based restricted stock awarded to the Board of Directors for the year ended December 31, 2019 is as follows:
 
Number of
Shares
Weighted-Average
Grant Date Fair 
Value
Non-vested time-based restricted stock at January 1, 20187,262  $5.48  
Granted 85,890  6.75  
Vested(28,783) 5.40  
Forfeited or expired—  —  
Non-vested time-based restricted stock at December 31, 201864,369  $7.21  
Non-vested time-based restricted stock at January 1, 201964,369  $7.21  
Granted 233,362  2.29  
Vested(90,308) 5.80  
Forfeited or expired—  —  
Non-vested time-based restricted stock at December 31, 2019207,423  $2.29