ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2015

ACQUISITION

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 months ended March 31, 2015 and 2014, as if the Voumard acquisition had occurred on January 1, 2013 (in thousands, except per share data):

	Three Months Ended   March 31,
	2015			2014
Sales	$	69,128		$	72,699
Net loss from continuing operations(1)	(1,408		)	(5,987		)
Diluted loss per share from continuing operations	$	(0.11	)	$	(0.48	)

____________________

⁽¹⁾ The pro forma results above include abbreviated financial results for Voumard, consisting of revenues and direct expenses for that product line. During the three months ended March 31, 2014, the Voumard business incurred $4.7 million in restructuring charges, which included inventory write-offs, headcount reductions and other related costs. These amounts are included in the pro forma information presented above.

Voumard

ACQUISITION

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

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed in the Voumard acquisition at the date of acquisition (in thousands):

	September 22, 2014
Assets Acquired
Inventories	$	2,984
Property, plant and equipment	259
Drawings, customer lists, and other intangible assets	131
Total assets acquired	3,374
Liabilities Assumed
Warranties	600
Deferred tax liability	162
Net assets acquired	2,612
Total purchase price	2,150
Bargain purchase gain	$	(462	)