ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The final allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):



	May 9, 2013
Assets Acquired
Accounts receivable	$	5,521
Inventories	5,357
Other current assets	1,257
Property, plant and equipment	6,271
Other non-current assets	105
Trade name, customer list, and other intangible assets	14,614
Total assets acquired	33,125
Liabilities assumed
Accounts payable and other current liabilities	3,413
Other non-current liabilities	1,278
Net assets acquired	28,434
Total purchase price	34,250
Goodwill	$	5,816

Schedule of unaudited pro forma effect on consolidated operating results

The following table illustrates the unaudited pro forma effect on the Company’s consolidated operating results for the three and six months ended June 30, 2014 and 2013, as if the Forkardt acquisition and related financing occurred on January 1, 2012 (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Sales	$	78,851	$	82,556	$	149,701	$	160,034
Net income from continuing operations	1,415		2,687		823		3,756
Diluted earnings per share from continuing operations	$	0.11	$	0.23	$	0.06	$	0.32