SELECTED QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Impact of the restatement on previously reported quarterly consolidated balance sheet, statements of operations, statements of comprehensive income (loss) and statements of cash flows

The following table summarizes the impact of the restatement on our previously reported consolidated balance sheet for the year ending December 31, 2013 (in thousands, except share and per share data):

	December 31, 2013
	As Reported			Adjustments			Restated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	10,598		$	—		$	10,598
Accounts receivable, net of allowance for doubtful accounts of $419	37,785			—			37,785
Inventory, net	41,191			—			41,191
Prepaid expenses and other	4,375			(98		)	4,277
Current deferred tax assets	3,440			16			3,456
Assets held for sale	6,299			—			6,299
Total current assets	103,688			(82		)	103,606
PROPERTY, PLANT AND EQUIPMENT	98,573			—			98,573
Less - accumulated depreciation	(38,358		)	—			(38,358		)
Property, plant and equipment, net	60,215			—			60,215
GOODWILL, net	37,970			—			37,970
PURCHASED INTANGIBLE ASSETS, net	36,458			—			36,458
DEFERRED TAX ASSETS	388			15			403
OTHER ASSETS, net	1,893			—			1,893
TOTAL ASSETS	$	240,612		$	(67	)	$	240,545

	December 31, 2013
	As Reported			Adjustments			Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	14,567		$	—		$	14,567
Accrued expenses	3,927			—			3,927
Dividend payable	550			—			550
Accrued income taxes	2,811			(154		)	2,657
Accrued employee compensation and benefits	4,552			—			4,552
Customer advances	1,019			—			1,019
Current debt obligations	2,907			—			2,907
Current deferred tax liabilities	435			—			435
Liabilities related to assets held for sale	826			—			826
Total current liabilities	31,594			(154		)	31,440
LINES OF CREDIT	26,400			—			26,400
DEFERRED TAX LIABILITIES	7,945			(150		)	7,795
OTHER LONG-TERM LIABILITIES	1,881			—			1,881
Total liabilities	67,820			(304		)	67,516
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	—			—			—
Common stock, $0.05 par value; 25,000,000 shares authorized; 13,772,324 shares issued and outstanding	689			—			689
Additional paid-in capital	62,934			—			62,934
Retained earnings	113,399			(9		)	113,390
Other cumulative comprehensive loss	(4,230		)	246			(3,984		)
Total stockholders’ equity	172,792			237			173,029
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	240,612		$	(67	)	$	240,545

The following tables summarize the impact of the restatement on our previously reported statements of consolidated operations for fiscal years 2013 and 2012 (in thousands, except per share data):

	Year Ended December 31, 2013									Year Ended December 31, 2012
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	202,060		$	—		$	202,060		$	192,737		$	—		$	192,737
COST OF PRODUCTS SOLD	143,926			—			143,926			135,085			—			135,085
Gross profit	58,134			—			58,134			57,652			—			57,652
COSTS AND EXPENSES:
General and administrative expenses	24,672			—			24,672			18,489			—			18,489
Selling and distribution expenses	16,136			—			16,136			16,954			—			16,954
Amortization of purchased intangible assets	6,348			—			6,348			6,210			—			6,210
Total costs and expenses	47,156			—			47,156			41,653			—			41,653
INCOME FROM OPERATIONS	10,978			—			10,978			15,999			—			15,999
OTHER INCOME (EXPENSE):
Other income (expense), net	(528		)	—			(528		)	(32		)	—			(32		)
Interest expense	(648		)	—			(648		)	(832		)	—			(832		)
Interest income	7			—			7			13			—			13
INCOME BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	9,809			—			9,809			15,148			—			15,148
INCOME TAX PROVISION	2,700			1,036			3,736			4,397			919			5,316
INCOME FROM CONTINUING OPERATIONS	7,109			(1,036		)	6,073			10,751			(919		)	9,832
DISCONTINUED OPERATIONS:
Income from operations of discontinued operations, net of tax	478			—			478			943			—			943
NET INCOME	7,587			(1,036		)	6,551			11,694			(919		)	10,775
Less: Net income (loss) attributable to non-controlling interest	92			—			92			(2		)	—			(2		)
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	7,495		$	(1,036	)	$	6,459		$	11,696		$	(919	)	$	10,777
INCOME PER SHARE - BASIC:
Continuing operations	$	0.52		$	(0.08	)	$	0.44		$	0.80		$	(0.07	)	$	0.73
Discontinued operations	$	0.03		$	—		$	0.03		$	0.07		$	—		$	0.07
Net income	$	0.55		$	(0.08	)	$	0.47		$	0.87		$	(0.07	)	$	0.80
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.51		$	(0.07	)	$	0.44		$	0.80		$	(0.07	)	$	0.73
Discontinued operations	$	0.03		$	—		$	0.03		$	0.07		$	—		$	0.07
Net income	$	0.54		$	(0.07	)	$	0.47		$	0.87		$	(0.07	)	$	0.80
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,533,566			—			13,533,566			13,264,636			—			13,264,636
Diluted	13,537,525			—			13,537,525			13,268,713			—			13,268,713
DIVIDENDS DECLARED PER COMMON SHARE	$	0.16		$	—		$	0.16		$	0.16		$	—		$	0.16

The following tables summarize the impact of the restatement on our previously reported consolidated statements of comprehensive income for fiscal years 2013 and 2012 (in thousands):

	Year Ended December 31, 2013							Year Ended December 31, 2012
	As Reported		Adjustments			Restated		As Reported		Adjustments			Restated
Net income including non-controlling interest	$	7,587	$	(1,036	)	$	6,551	$	11,694	$	(919	)	$	10,775
Change in cumulative foreign currency translation adjustment	2,237		382			2,619		2,796		(190		)	2,606
Total comprehensive income	9,824		(654		)	9,170		14,490		(1,109		)	13,381
Comprehensive income attributable to non-controlling interest	96		—			96		1		—			1
Comprehensive income attributable to Dynamic Materials Corporation	$	9,728	$	(654	)	$	9,074	$	14,489	$	(1,109	)	$	13,380

The following tables summarize the impact of the restatement on our previously reported consolidated statements of cash flows for fiscal years 2013 and 2012 (in thousands):

	Year Ended December 31, 2013
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	7,587		$	(1,036	)	$	6,551
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax	(478		)	—			(478		)
Depreciation (including capital lease amortization)	5,920			—			5,920
Amortization of purchased intangible assets	6,348			—			6,348
Amortization of deferred debt issuance costs	102			—			102
Stock-based compensation	3,401			—			3,401
Deferred income tax benefit	(1,666		)	1,145			(521		)
Loss on disposal of property, plant and equipment	50			—			50
Restructuring and impairment charges	756			—			756
Change in:
Accounts receivable, net	(2,185		)	—			(2,185		)
Inventory, net	6,750			—			6,750
Prepaid expenses and other	79			10			89
Accounts payable	2,228			—			2,228
Customer advances	(360		)	—			(360		)
Accrued expenses and other liabilities	1,707			(119		)	1,588
Net cash flows provided by continuing operations	30,239			—			30,239
Net cash flows provided by discontinued operations	1,777			—			1,777
Net cash provided by operating activities	32,016			—			32,016
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(16,223		)	—			(16,223		)
Acquisition of minority interest	(180		)	—			(180		)
Change in other non-current assets	(489		)	—			(489		)
Net cash flows used in continuing operations	(16,892		)	—			(16,892		)
Net cash flows used in discontinued operations	(1,348		)	—			(1,348		)
Net cash used in investing activities	(18,240		)	—			(18,240		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(9,592		)	—			(9,592		)
Payment on loans with former owners of LRI	(63		)	—			(63		)
Payment on capital lease obligations	(40		)	—			(40		)
Payment of dividends	(2,187		)	—			(2,187		)
Other	295			—			295
Net cash used in financing activities	(11,587		)	—			(11,587		)
EFFECTS OF EXCHANGE RATES ON CASH	191			—			191
NET INCREASE IN CASH AND CASH EQUIVALENTS	2,380			—			2,380
CASH AND CASH EQUIVALENTS, beginning of the period	8,218			—			8,218
CASH AND CASH EQUIVALENTS, end of the period	$	10,598		$	—		$	10,598

	Year Ended December 31, 2012
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	11,694		$	(919	)	$	10,775
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax	(943		)	—			(943		)
Depreciation (including capital lease amortization)	5,018			—			5,018
Amortization of purchased intangible assets	6,210			—			6,210
Amortization of deferred debt issuance costs	124			—			124
Stock-based compensation	4,443			—			4,443
Deferred income tax benefit	(1,159		)	689			(470		)
Change in:
Accounts receivable, net	717			—			717
Inventory, net	(2,380		)	—			(2,380		)
Prepaid expenses and other	463			88			551
Accounts payable	(3,616		)	—			(3,616		)
Customer advances	(556		)	—			(556		)
Accrued expenses and other liabilities	(551		)	142			(409		)
Net cash flows provided by continuing operations	19,464			—			19,464
Net cash flows provided by discontinued operations	1,092			—			1,092
Net cash provided by operating activities	20,556			—			20,556
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(15,133		)	—			(15,133		)
Acquisition of TRX Industries	(10,294		)	—			(10,294		)
Change in other non-current assets	(224		)	—			(224		)
Net cash flows used in continuing operations	(25,651		)	—			(25,651		)
Net cash flows used in discontinued operations	(514		)	—			(514		)
Net cash used in investing activities	(26,165		)	—			(26,165		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	12,174			—			12,174
Payment on loans with former owners of LRI	(1,176		)	—			(1,176		)
Payment on capital lease obligations	(66		)	—			(66		)
Payment of dividends	(2,155		)	—			(2,155		)
Other	(260		)	—			(260		)
Net cash provided by financing activities	8,517			—			8,517
EFFECTS OF EXCHANGE RATES ON CASH	(8		)	—			(8		)
NET INCREASE IN CASH AND CASH EQUIVALENTS	2,900			—			2,900
CASH AND CASH EQUIVALENTS, beginning of the period	5,318			—			5,318
CASH AND CASH EQUIVALENTS, end of the period	$	8,218		$	—		$	8,218

The following tables summarize the impact of the restatement on our previously reported interim consolidated balance sheet for fiscal years 2014 and 2013 (in thousands, except share and per share data):

	March 31, 2014									March 31, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	9,131		$	—		$	9,131		$	8,246		$	—		$	8,246
Accounts receivable, net of allowance for doubtful accounts of $459 and $440, respectively	35,973			—			35,973			31,948			—			31,948
Inventory, net	43,106			(54		)	43,052			46,491			—			46,491
Prepaid expenses and other	6,142			(98		)	6,044			5,956			(89		)	5,867
Current deferred tax assets	2,424			16			2,440			1,587			2			1,589
Assets held for sale	6,276			—			6,276			5,402			—			5,402
Total current assets	103,052			(136		)	102,916			99,630			(87		)	99,543
PROPERTY, PLANT AND EQUIPMENT	100,208			—			100,208			85,896			—			85,896
Less - accumulated depreciation	(40,934		)	202			(40,732		)	(33,661		)	—			(33,661		)
Property, plant and equipment, net	59,274			202			59,476			52,235			—			52,235
GOODWILL, net	37,689			—			37,689			36,125			—			36,125
PURCHASED INTANGIBLE ASSETS, net	34,597			—			34,597			39,428			—			39,428
DEFERRED TAX ASSETS	552			44			596			1,060			(138		)	922
OTHER ASSETS, net	1,711			—			1,711			529			—			529
TOTAL ASSETS	$	236,875		$	110		$	236,985		$	229,007		$	(225	)	$	228,782

	March 31, 2014									March 31, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	13,438		$	—		$	13,438		$	10,362		$	—		$	10,362
Accrued expenses	4,315			—			4,315			4,453			—			4,453
Dividend payable	557			—			557			547			—			547
Accrued income taxes	2,034			(102		)	1,932			295			5			300
Accrued employee compensation and benefits	3,140			—			3,140			3,778			—			3,778
Customer advances	2,996			—			2,996			1,378			—			1,378
Current debt obligations	516			—			516			64			—			64
Current portion of capital lease obligations	10			—			10			50			—			50
Current deferred tax liabilities	404			—			404			155			—			155
Liabilities related to assets held for sale	758			—			758			543			—			543
Total current liabilities	28,168			(102		)	28,066			21,625			5			21,630
LINES OF CREDIT	26,900			—			26,900			38,256			—			38,256
LONG-TERM DEBT	—			—			—			37			—			37
CAPITAL LEASE OBLIGATIONS	7			—			7			6			—			6
DEFERRED TAX LIABILITIES	7,566			158			7,724			8,344			(1,021		)	7,323
OTHER LONG-TERM LIABILITIES	1,930			88			2,018			1,582			—			1,582
Total liabilities	64,571			144			64,715			69,850			(1,016		)	68,834
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	—			—			—			—			—			—
Common stock, $0.05 par value; 25,000,000 shares authorized; 13,944,094 and 13,683,307 shares issued and outstanding, respectively	698			—			698			684			—			684
Additional paid-in capital	63,589			101			63,690			60,682			—			60,682
Retained earnings	114,480			(160		)	114,320			107,769			919			108,688
Other cumulative comprehensive loss	(6,463		)	25			(6,438		)	(10,087		)	(128		)	(10,215		)
Total DMC’s stockholders’ equity	172,304			(34		)	172,270			159,048			791			159,839
Non-controlling interest	—			—			—			109			—			109
Total stockholders’ equity	172,304			(34		)	172,270			159,157			791			159,948
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	236,875		$	110		$	236,985		$	229,007		$	(225	)	$	228,782

	June 30, 2014									June 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	8,643		$	—		$	8,643		$	2,368		$	—		$	2,368
Accounts receivable, net of allowance for doubtful accounts of $504 and $471, respectively	38,409			—			38,409			39,959			—			39,959
Inventory, net	45,887			—			45,887			45,190			—			45,190
Prepaid expenses and other	7,218			(98		)	7,120			5,504			(89		)	5,415
Current deferred tax assets	2,532			16			2,548			1,944			2			1,946
Assets held for sale	6,155			—			6,155			6,206			—			6,206
Total current assets	108,844			(82		)	108,762			101,171			(87		)	101,084
PROPERTY, PLANT AND EQUIPMENT	102,564			—			102,564			90,651			—			90,651
Less - accumulated depreciation	(42,220		)	202			(42,018		)	(35,010		)	—			(35,010		)
Property, plant and equipment, net	60,344			202			60,546			55,641			—			55,641
GOODWILL, net	37,161			—			37,161			36,447			—			36,447
PURCHASED INTANGIBLE ASSETS, net	32,939			—			32,939			38,121			—			38,121
DEFERRED TAX ASSETS	792			(276		)	516			458			(139		)	319
OTHER ASSETS, net	1,868			—			1,868			505			—			505
TOTAL ASSETS	$	241,948		$	(156	)	$	241,792		$	232,343		$	(226	)	$	232,117

	June 30, 2014									June 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,689		$	—		$	9,689		$	14,111		$	—		$	14,111
Accrued expenses	3,671			—			3,671			4,657			—			4,657
Dividend payable	559			—			559			549			—			549
Accrued income taxes	2,471			(154		)	2,317			906			5			911
Accrued employee compensation and benefits	4,119			—			4,119			4,338			—			4,338
Customer advances	2,617			—			2,617			4,758			—			4,758
Current debt obligations	20			—			20			63			—			63
Current portion of capital lease obligations	5			—			5			45			—			45
Current deferred tax liabilities	417			—			417			155			—			155
Liabilities related to assets held for sale	742			—			742			820			—			820
Total current liabilities	24,310			(154		)	24,156			30,402			5			30,407
LINES OF CREDIT	31,800			—			31,800			28,843			—			28,843
LONG-TERM DEBT	—			—			—			20			—			20
CAPITAL LEASE OBLIGATIONS	6			—			6			—			—			—
DEFERRED TAX LIABILITIES	7,186			554			7,740			8,050			(646		)	7,404
OTHER LONG-TERM LIABILITIES	2,000			58			2,058			1,668			—			1,668
Total liabilities	65,302			458			65,760			68,983			(641		)	68,342
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	—			—			—			—			—			—
Common stock, $0.05 par value; 25,000,000 shares authorized; 13,979,119 and 13,750,163 shares issued and outstanding, respectively	699			—			699			688			—			688
Additional paid-in capital	64,861			89			64,950			61,530			—			61,530
Retained earnings	116,808			(731		)	116,077			110,659			545			111,204
Other cumulative comprehensive loss	(5,722		)	28			(5,694		)	(9,642		)	(130		)	(9,772		)
Total DMC’s stockholders’ equity	176,646			(614		)	176,032			163,235			415			163,650
Non-controlling interest	—			—			—			125			—			125
Total stockholders’ equity	176,646			(614		)	176,032			163,360			415			163,775
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	241,948		$	(156	)	$	241,792		$	232,343		$	(226	)	$	232,117

	September 30, 2014									September 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	14,932		$	—		$	14,932		$	9,333		$	—		$	9,333
Accounts receivable, net of allowance for doubtful accounts of $599 and $340, respectively	30,923			—			30,923			30,394			—			30,394
Inventory, net	41,846			280			42,126			41,384			—			41,384
Prepaid expenses and other	7,161			(378		)	6,783			3,977			(89		)	3,888
Current deferred tax assets	5,583			16			5,599			2,513			2			2,515
Assets held for sale	6,011			—			6,011			6,610			—			6,610
Total current assets	106,456			(82		)	106,374			94,211			(87		)	94,124
PROPERTY, PLANT AND EQUIPMENT	100,305			—			100,305			95,717			—			95,717
Less - accumulated depreciation	(42,625		)	202			(42,423		)	(36,469		)	—			(36,469		)
Property, plant and equipment, net	57,680			202			57,882			59,248			—			59,248
GOODWILL, net	34,382			—			34,382			37,553			—			37,553
PURCHASED INTANGIBLE ASSETS, net	29,403			—			29,403			37,646			—			37,646
DEFERRED TAX ASSETS	439			(9		)	430			397			(239		)	158
OTHER ASSETS, net	1,236			—			1,236			499			—			499
TOTAL ASSETS	$	229,596		$	111		$	229,707		$	229,554		$	(326	)	$	229,228

	September 30, 2014									September 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,104		$	—		$	9,104		$	9,020		$	—		$	9,020
Accrued expenses	3,245			—			3,245			4,222			—			4,222
Dividend payable	559			—			559			550			—			550
Accrued income taxes	3,030			(58		)	2,972			1,325			(88		)	1,237
Accrued employee compensation and benefits	4,667			—			4,667			5,346			—			5,346
Customer advances	2,364			—			2,364			1,387			—			1,387
Current debt obligations	4			—			4			65			—			65
Current portion of capital lease obligations	5			—			5			33			—			33
Current deferred tax liabilities	435			—			435			274			—			274
Liabilities related to assets held for sale	721			—			721			765			—			765
Total current liabilities	24,134			(58		)	24,076			22,987			(88		)	22,899
LINES OF CREDIT	26,000			—			26,000			25,550			—			25,550
LONG-TERM DEBT	—			—			—			5			—			5
CAPITAL LEASE OBLIGATIONS	4			—			4			—			—			—
DEFERRED TAX LIABILITIES	8,641			866			9,507			8,084			(242		)	7,842
OTHER LONG-TERM LIABILITIES	1,958			30			1,988			1,755			—			1,755
Total liabilities	60,737			838			61,575			58,381			(330		)	58,051
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	—			—			—			—			—			—
Common stock, $0.05 par value; 25,000,000 shares authorized; 13,979,119 and 13,759,007 shares issued and outstanding, respectively	699			—			699			688			—			688
Additional paid-in capital	65,836			78			65,914			62,099			—			62,099
Retained earnings	118,745			(888		)	117,857			113,670			167			113,837
Other cumulative comprehensive loss	(16,421		)	83			(16,338		)	(5,464		)	(163		)	(5,627		)
Total DMC’s stockholders’ equity	168,859			(727		)	168,132			170,993			4			170,997
Non-controlling interest	—			—			—			180			—			180
Total stockholders’ equity	168,859			(727		)	168,132			171,173			4			171,177
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	229,596		$	111		$	229,707		$	229,554		$	(326	)	$	229,228

The following tables summarize the impact of the restatement on our previously reported interim consolidated statement of operations (in thousands, except per share data):

	Three months ended March 31, 2014									Three months ended March 31, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	46,769		$	—		$	46,769		$	44,836		$	—		$	44,836
COST OF PRODUCTS SOLD	32,203			(148		)	32,055			32,047			—			32,047
Gross profit	14,566			148			14,714			12,789			—			12,789
COSTS AND EXPENSES:
General and administrative expenses	5,542			250			5,792			8,014			—			8,014
Selling and distribution expenses	4,223			—			4,223			4,030			—			4,030
Amortization of purchased intangible assets	1,616			—			1,616			1,585			—			1,585
Total costs and expenses	11,381			250			11,631			13,629			—			13,629
INCOME (LOSS) FROM OPERATIONS	3,185			(102		)	3,083			(840		)	—			(840		)
OTHER INCOME (EXPENSE):
Other income (expense), net	(435		)	—			(435		)	296			—			296
Interest expense	(109		)	—			(109		)	(172		)	—			(172		)
Interest income	5			—			5			3			—			3
INCOME (LOSS) BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	2,646			(102		)	2,544			(713		)	—			(713		)
INCOME TAX PROVISION (BENEFIT)	692			49			741			(1,049		)	108			(941		)
INCOME FROM CONTINUING OPERATIONS	1,954			(151		)	1,803			336			(108		)	228
DISCONTINUED OPERATIONS:
Loss from operations of discontinued operations, net of tax	(316		)	—			(316		)	(93		)	—			(93		)
NET INCOME	1,638			(151		)	1,487			243			(108		)	135
Less: Net income attributable to non-controlling interest	—			—			—			28			—			28
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	1,638		$	(151	)	$	1,487		$	215		$	(108	)	$	107
INCOME PER SHARE - BASIC:
Continuing operations	$	0.14		$	(0.01	)	$	0.13		$	0.03		$	(0.01	)	$	0.02
Discontinued operations	$	(0.02	)	$	—		$	(0.02	)	$	(0.01	)	$	—		$	(0.01	)
Net income	$	0.12		$	(0.01	)	$	0.11		$	0.02		$	(0.01	)	$	0.01
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.14		$	(0.01	)	$	0.13		$	0.03		$	(0.01	)	$	0.02
Discontinued operations	$	(0.02	)	$	—		$	(0.02	)	$	(0.01	)	$	—		$	(0.01	)
Net income	$	0.12		$	(0.01	)	$	0.11		$	0.02		$	(0.01	)	$	0.01
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,644,239			—			13,644,239			13,509,792			—			13,509,792
Diluted	13,649,953			—			13,649,953			13,513,797			—			13,513,797
DIVIDENDS DECLARED PER COMMON SHARE	$	0.04		$	—		$	0.04		$	0.04		$	—		$	0.04

	Three months ended June 30, 2014									Three months ended June 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	51,911		$	—		$	51,911		$	55,554		$	—		$	55,554
COST OF PRODUCTS SOLD	36,067			(54		)	36,013			39,155			—			39,155
Gross profit	15,844			54			15,898			16,399			—			16,399
COSTS AND EXPENSES:
General and administrative expenses	5,813			(42		)	5,771			5,006			—			5,006
Selling and distribution expenses	4,733			—			4,733			4,310			—			4,310
Amortization of purchased intangible assets	1,617			—			1,617			1,568			—			1,568
Total costs and expenses	12,163			(42		)	12,121			10,884			—			10,884
INCOME FROM OPERATIONS	3,681			96			3,777			5,515			—			5,515
OTHER INCOME (EXPENSE):
Other income (expense), net	332			—			332			(420		)	—			(420		)
Interest expense	(174		)	—			(174		)	(183		)	—			(183		)
Interest income	1			—			1			1			—			1
INCOME BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	3,840			96			3,936			4,913			—			4,913
INCOME TAX PROVISION	1,172			667			1,839			1,768			373			2,141
INCOME FROM CONTINUING OPERATIONS	2,668			(571		)	2,097			3,145			(373		)	2,772
DISCONTINUED OPERATIONS:
Income from operations of discontinued operations, net of tax	219			—			219			310			—			310
NET INCOME	2,887			(571		)	2,316			3,455			(373		)	3,082
Less: Net income attributable to non-controlling interest	—			—			—			15			—			15
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	2,887		$	(571	)	$	2,316		$	3,440		$	(373	)	$	3,067
INCOME PER SHARE - BASIC:
Continuing operations	$	0.19		$	(0.04	)	$	0.15		$	0.23		$	(0.03	)	$	0.20
Discontinued operations	$	0.02		$	—		$	0.02		$	0.02		$	—		$	0.02
Net income	$	0.21		$	(0.04	)	$	0.17		$	0.25		$	(0.03	)	$	0.22
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.19		$	(0.04	)	$	0.15		$	0.23		$	(0.03	)	$	0.20
Discontinued operations	$	0.02		$	—		$	0.02		$	0.02		$	—		$	0.02
Net income	$	0.21		$	(0.04	)	$	0.17		$	0.25		$	(0.03	)	$	0.22
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,672,457			—			13,672,457			13,526,623			—			13,526,623
Diluted	13,677,911			—			13,677,911			13,530,588			—			13,530,588
DIVIDENDS DECLARED PER COMMON SHARE	$	0.04		$	—		$	0.04		$	0.04		$	—		$	0.04

	Six months ended June 30, 2014									Six months ended June 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	98,680		$	—		$	98,680		$	100,390		$	—		$	100,390
COST OF PRODUCTS SOLD	68,269			(202		)	68,067			71,203			—			71,203
Gross profit	30,411			202			30,613			29,187			—			29,187
COSTS AND EXPENSES:
General and administrative expenses	11,356			208			11,564			13,019			—			13,019
Selling and distribution expenses	8,956			—			8,956			8,340			—			8,340
Amortization of purchased intangible assets	3,232			—			3,232			3,153			—			3,153
Total costs and expenses	23,544			208			23,752			24,512			—			24,512
INCOME FROM OPERATIONS	6,867			(6		)	6,861			4,675			—			4,675
OTHER INCOME (EXPENSE):
Other income (expense), net	(103		)	—			(103		)	(124		)	—			(124		)
Interest expense	(283		)	—			(283		)	(355		)	—			(355		)
Interest income	5			—			5			4			—			4
INCOME BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	6,486			(6		)	6,480			4,200			—			4,200
INCOME TAX PROVISION	1,864			716			2,580			719			482			1,201
INCOME FROM CONTINUING OPERATIONS	4,622			(722		)	3,900			3,481			(482		)	2,999
DISCONTINUED OPERATIONS:
Income (loss) from operations of discontinued operations, net of tax	(97		)	—			(97		)	217			—			217
NET INCOME	4,525			(722		)	3,803			3,698			(482		)	3,216
Less: Net income attributable to non-controlling interest	—			—			—			43			—			43
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	4,525		$	(722	)	$	3,803		$	3,655		$	(482	)	$	3,173
INCOME PER SHARE - BASIC:
Continuing operations	$	0.33		$	(0.05	)	$	0.28		$	0.25		$	(0.04	)	$	0.21
Discontinued operations	$	(0.01	)	$	—		$	(0.01	)	$	0.02		$	—		$	0.02
Net income	$	0.32		$	(0.05	)	$	0.27		$	0.27		$	(0.04	)	$	0.23
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.33		$	(0.05	)	$	0.28		$	0.25		$	(0.04	)	$	0.21
Discontinued operations	$	(0.01	)	$	—		$	(0.01	)	$	0.02		$	—		$	0.02
Net income	$	0.32		$	(0.05	)	$	0.27		$	0.27		$	(0.04	)	$	0.23
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,668,223			—			13,668,223			13,523,028			—			13,523,028
Diluted	13,673,807			—			13,673,807			13,527,011			—			13,527,011
DIVIDENDS DECLARED PER COMMON SHARE	$	0.08		$	—		$	0.08		$	0.08		$	—		$	0.08

	Three months ended September 30, 2014									Three months ended September 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	51,886		$	—		$	51,886		$	52,331		$	—		$	52,331
COST OF PRODUCTS SOLD	36,803			—			36,803			36,229			—			36,229
Gross profit	15,083			—			15,083			16,102			—			16,102
COSTS AND EXPENSES:
General and administrative expenses	5,503			(40		)	5,463			5,672			—			5,672
Selling and distribution expenses	4,639			—			4,639			3,658			—			3,658
Amortization of purchased intangible assets	1,575			—			1,575			1,581			—			1,581
Total costs and expenses	11,717			(40		)	11,677			10,911			—			10,911
INCOME FROM OPERATIONS	3,366			40			3,406			5,191			—			5,191
OTHER INCOME (EXPENSE):
Other income (expense), net	472			—			472			(247		)	—			(247		)
Interest expense	(137		)	—			(137		)	(129		)	—			(129		)
Interest income	1			—			1			1			—			1
INCOME BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	3,702			40			3,742			4,816			—			4,816
INCOME TAX PROVISION	1,224			196			1,420			1,460			378			1,838
INCOME FROM CONTINUING OPERATIONS	2,478			(156		)	2,322			3,356			(378		)	2,978
DISCONTINUED OPERATIONS:
Income from operations of discontinued operations, net of tax	20			—			20			255			—			255
NET INCOME	2,498			(156		)	2,342			3,611			(378		)	3,233
Less: Net income attributable to non-controlling interest	—			—			—			49			—			49
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	2,498		$	(156	)	$	2,342		$	3,562		$	(378	)	$	3,184
INCOME PER SHARE - BASIC:
Continuing operations	$	0.18		$	(0.01	)	$	0.17		$	0.24		$	(0.03	)	$	0.21
Discontinued operations	$	—		$	—		$	—		$	0.02		$	—		$	0.02
Net income	$	0.18		$	(0.01	)	$	0.17		$	0.26		$	(0.03	)	$	0.23
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.18		$	(0.01	)	$	0.17		$	0.24		$	(0.03	)	$	0.21
Discontinued operations	$	—		$	—		$	—		$	0.02		$	—		$	0.02
Net income	$	0.18		$	(0.01	)	$	0.17		$	0.26		$	(0.03	)	$	0.23
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,688,649			—			13,688,649			13,540,394			—			13,540,394
Diluted	13,690,174			—			13,690,174			13,544,665			—			13,544,665
DIVIDENDS DECLARED PER COMMON SHARE	$	0.04		$	—		$	0.04		$	0.04		$	—		$	0.04

	Nine months ended September 30, 2014									Nine months ended September 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
NET SALES	$	150,566		$	—		$	150,566		$	152,720		$	—		$	152,720
COST OF PRODUCTS SOLD	105,073			(202		)	104,871			107,431			—			107,431
Gross profit	45,493			202			45,695			45,289			—			45,289
COSTS AND EXPENSES:
General and administrative expenses	16,858			169			17,027			18,694			—			18,694
Selling and distribution expenses	13,596			—			13,596			11,997			—			11,997
Amortization of purchased intangible assets	4,808			—			4,808			4,734			—			4,734
Total costs and expenses	35,262			169			35,431			35,425			—			35,425
INCOME FROM OPERATIONS	10,231			33			10,264			9,864			—			9,864
OTHER INCOME (EXPENSE):
Other income (expense), net	369			—			369			(371		)	—			(371		)
Interest expense	(420		)	—			(420		)	(484		)	—			(484		)
Interest income	6			—			6			5			—			5
INCOME BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	10,186			33			10,219			9,014			—			9,014
INCOME TAX PROVISION	3,088			912			4,000			2,179			860			3,039
INCOME FROM CONTINUING OPERATIONS	7,098			(879		)	6,219			6,835			(860		)	5,975
DISCONTINUED OPERATIONS:
Income (loss) from operations of discontinued operations, net of tax	(77		)	—			(77		)	473			—			473
NET INCOME	7,021			(879		)	6,142			7,308			(860		)	6,448
Less: Net income attributable to non-controlling interest	—			—			—			92			—			92
NET INCOME ATTRIBUTABLE TO DYNAMIC MATERIALS CORPORATION	$	7,021		$	(879	)	$	6,142		$	7,216		$	(860	)	$	6,356
INCOME PER SHARE - BASIC:
Continuing operations	$	0.51		$	(0.06	)	$	0.45		$	0.49		$	(0.06	)	$	0.43
Discontinued operations	$	(0.01	)	$	—		$	(0.01	)	$	0.03		$	—		$	0.03
Net income	$	0.50		$	(0.06	)	$	0.44		$	0.52		$	(0.06	)	$	0.46
INCOME PER SHARE - DILUTED:
Continuing operations	$	0.51		$	(0.06	)	$	0.45		$	0.49		$	(0.06	)	$	0.43
Discontinued operations	$	(0.01	)	$	—		$	(0.01	)	$	0.03		$	—		$	0.03
Net income	$	0.50		$	(0.06	)	$	0.44		$	0.52		$	(0.06	)	$	0.46
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,676,730			—			13,676,730			13,528,880			—			13,528,880
Diluted	13,681,790			—			13,681,790			13,532,973			—			13,532,973
DIVIDENDS DECLARED PER COMMON SHARE	$	0.12		$	—		$	0.12		$	0.12		$	—		$	0.12

	Three months ended December 31, 2014			Three months ended December, 2013
	As Reported			As Reported			Adjustments			Restated
NET SALES	$	51,995		$	49,339		$	—		$	49,339
COST OF PRODUCTS SOLD	36,271			36,495			—			36,495
Gross profit	15,724			12,844			—			12,844
COSTS AND EXPENSES:
General and administrative expenses	6,740			5,980			—			5,980
Selling and distribution expenses	4,509			4,138			—			4,138
Amortization of purchased intangible assets	1,295			1,614			—			1,614
Restructuring expenses	6,781			—			—			—
Total costs and expenses	19,325			11,732			—			11,732
INCOME (LOSS) FROM OPERATIONS	(3,601		)	1,112			—			1,112
OTHER INCOME (EXPENSE):
Other income (expense), net	(682		)	(157		)	—			(157		)
Interest expense	(132		)	(164		)	—			(164		)
Interest income	32			2			—			2
INCOME (LOSS) BEFORE INCOME TAXES, DISCONTINUED OPERATIONS AND NON-CONTROLLING INTEREST	(4,383		)	793			—			793
INCOME TAX PROVISION (BENEFIT)	(87		)	522			176			698
INCOME (LOSS) FROM CONTINUING OPERATIONS	(4,296		)	271			(176		)	95
DISCONTINUED OPERATIONS:
Income from operations of discontinued operations, net of tax	—			6			—			6
Gain on sale of discontinued operations, net of tax	718			—			—			—
Income from discontinued operations	718			6			—			6
NET INCOME (LOSS)	(3,578		)	277			(176		)	101
INCOME (LOSS) PER SHARE - BASIC:
Continuing operations	$	(0.32	)	$	0.02		$	(0.01	)	$	0.01
Discontinued operations	$	0.05		$	—		$	—		$	—
Net income	$	(0.27	)	$	0.02		$	(0.01	)	$	0.01
INCOME (LOSS) PER SHARE - DILUTED:
Continuing operations	$	(0.32	)	$	0.02		$	(0.01	)	$	0.01
Discontinued operations	$	0.05		$	—		$	—		$	—
Net income	$	(0.27	)	$	0.02		$	(0.01	)	$	0.01
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	13,696,399			13,543,007			—			13,543,007
Diluted	13,697,821			13,549,288			—			13,549,288
DIVIDENDS DECLARED PER COMMON SHARE	$	0.04		$	0.04		$	—		$	0.04

The following tables summarize the impact of the restatement on our previously reported interim consolidated statements of comprehensive income (loss) for the fiscal years 2014 and 2013 (in thousands):

	Three months ended March 31, 2014									Three months ended March 31, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
Net income including non-controlling interest	$	1,638		$	(151	)	$	1,487		$	243		$	(108	)	$	135
Change in cumulative foreign currency translation adjustment	(2,233		)	(221		)	(2,454		)	(3,627		)	8			(3,619		)
Total comprehensive loss	(595		)	(372		)	(967		)	(3,384		)	(100		)	(3,484		)
Comprehensive income attributable to non-controlling interest	—			—			—			25			—			25
Comprehensive loss attributable to Dynamic Materials Corporation	$	(595	)	$	(372	)	$	(967	)	$	(3,409	)	$	(100	)	$	(3,509	)

	Three months ended June 30, 2014							Three months ended June 30, 2013
	As Reported		Adjustments			Restated		As Reported		Adjustments			Restated
Net income including non-controlling interest	$	2,887	$	(571	)	$	2,316	$	3,455	$	(373	)	$	3,082
Change in cumulative foreign currency translation adjustment	741		3			744		446		(3		)	443
Total comprehensive income	3,628		(568		)	3,060		3,901		(376		)	3,525
Comprehensive income attributable to non-controlling interest	—		—			—		16		—			16
Comprehensive income attributable to Dynamic Materials Corporation	$	3,628	$	(568	)	$	3,060	$	3,885	$	(376	)	$	3,509

	Six months ended June 30, 2014									Six months ended June 30, 2013
	As Reported			Adjustments			Restated			As Reported			Adjustments			Restated
Net income including non-controlling interest	$	4,525		$	(722	)	$	3,803		$	3,698		$	(482	)	$	3,216
Change in cumulative foreign currency translation adjustment	(1,492		)	(218		)	(1,710		)	(3,181		)	6			(3,175		)
Total comprehensive income	3,033			(940		)	2,093			517			(476		)	41
Comprehensive income attributable to non-controlling interest	—			—			—			41			—			41
Comprehensive income attributable to Dynamic Materials Corporation	$	3,033		$	(940	)	$	2,093		$	476		$	(476	)	$	—

	Three months ended September, 2014									Three months ended September 30, 2013
	As Reported			Adjustments			Restated			As Reported		Adjustments			Restated
Net income including non-controlling interest	$	2,498		$	(156	)	$	2,342		$	3,611	$	(378	)	$	3,233
Change in cumulative foreign currency translation adjustment	(10,701		)	54			(10,647		)	4,183		(33		)	4,150
Total comprehensive income (loss)	(8,203		)	(102		)	(8,305		)	7,794		(411		)	7,383
Comprehensive income attributable to non-controlling interest	—			—			—			55		—			55
Comprehensive income (loss) attributable to Dynamic Materials Corporation	$	(8,203	)	$	(102	)	$	(8,305	)	$	7,739	$	(411	)	$	7,328

	Nine months ended September 30, 2014									Nine months ended September 30, 2013
	As Reported			Adjustments			Restated			As Reported		Adjustments			Restated
Net income including non-controlling interest	$	7,021		$	(879	)	$	6,142		$	7,308	$	(860	)	$	6,448
Change in cumulative foreign currency translation adjustment	(12,191		)	(163		)	(12,354		)	1,003		(27		)	976
Total comprehensive income (loss)	(5,170		)	(1,042		)	(6,212		)	8,311		(887		)	7,424
Comprehensive income attributable to non-controlling interest	—			—			—			96		—			96
Comprehensive income (loss) attributable to Dynamic Materials Corporation	$	(5,170	)	$	(1,042	)	$	(6,212	)	$	8,215	$	(887	)	$	7,328

The following tables summarize the impact of the restatement on our previously reported interim consolidated statement of cash flows for fiscal years 2014 and 2013 (in thousands):

	Three months ended March 31, 2014
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	1,638		$	(151	)	$	1,487
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of tax	316			—			316
Depreciation (including capital lease amortization)	1,826			(202		)	1,624
Amortization of purchased intangible assets	1,616			—			1,616
Amortization of deferred debt issuance costs	25			—			25
Stock-based compensation	555			162			717
Deferred income tax benefit	612			58			670
Change in:
Accounts receivable, net	1,570			—			1,570
Inventory, net	(2,513		)	54			(2,459		)
Prepaid expenses and other	(1,867		)	—			(1,867		)
Accounts payable	(1,051		)	—			(1,051		)
Customer advances	1,980			—			1,980
Accrued expenses and other liabilities	(1,291		)	140			(1,151		)
Net cash flows provided by continuing operations	3,416			61			3,477
Net cash flows used in discontinued operations	(298		)	—			(298		)
Net cash provided by operating activities	3,118			61			3,179
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(1,994		)	—			(1,994		)
Change in other non-current assets	32			—			32
Net cash flows used in continuing operations	(1,962		)	—			(1,962		)
Net cash flows used in discontinued operations	(63		)	—			(63		)
Net cash used in investing activities	(2,025		)	—			(2,025		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(1,863		)	—			(1,863		)
Payment on loans with former owners of LRI	(15		)	—			(15		)
Payment on capital lease obligations	(15		)	—			(15		)
Payment of dividends	(550		)	—			(550		)
Net proceeds from issuance of common stock to employees and directors	22			—			22
Excess tax benefit from stock-based compensation	87			(61		)	26
Net cash used in financing activities	(2,334		)	(61		)	(2,395		)
EFFECTS OF EXCHANGE RATES ON CASH	(226		)	—			(226		)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,467		)	—			(1,467		)
CASH AND CASH EQUIVALENTS, beginning of the period	10,598			—			10,598
CASH AND CASH EQUIVALENTS, end of the period	$	9,131		$	—		$	9,131

	Six months ended June 30, 2014
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	4,525		$	(722	)	$	3,803
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of tax	97			—			97
Depreciation (including capital lease amortization)	3,581			(202		)	3,379
Amortization of purchased intangible assets	3,232			—			3,232
Amortization of deferred debt issuance costs	51			—			51
Stock-based compensation	1,591			150			1,741
Deferred income tax benefit	72			776			848
Loss on disposal of property, plant and equipment	5			—			5
Change in:
Accounts receivable, net	(858		)	—			(858		)
Inventory, net	(5,000		)	—			(5,000		)
Prepaid expenses and other	(2,873		)	—			(2,873		)
Accounts payable	(4,778		)	—			(4,778		)
Customer advances	1,613			—			1,613
Accrued expenses and other liabilities	(645		)	59			(586		)
Net cash flows provided by continuing operations	613			61			674
Net cash flows provided by discontinued operations	48			—			48
Net cash provided by operating activities	661			61			722
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(4,123		)	—			(4,123		)
Change in other non-current assets	(59		)	—			(59		)
Net cash flows used in continuing operations	(4,182		)	—			(4,182		)
Net cash flows used in discontinued operations	(85		)	—			(85		)
Net cash used in investing activities	(4,267		)	—			(4,267		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	2,555			—			2,555
Payment on loans with former owners of LRI	(31		)	—			(31		)
Payment on capital lease obligations	(22		)	—			(22		)
Payment of dividends	(1,108		)	—			(1,108		)
Net proceeds from issuance of common stock to employees and directors	234			—			234
Excess tax benefit from stock-based compensation	112			(61		)	51
Net cash provided by financing activities	1,740			(61		)	1,679
EFFECTS OF EXCHANGE RATES ON CASH	(89		)	—			(89		)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,955		)	—			(1,955		)
CASH AND CASH EQUIVALENTS, beginning of the period	10,598			—			10,598
CASH AND CASH EQUIVALENTS, end of the period	$	8,643		$	—		$	8,643

	Nine months ended September 30, 2014
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	7,021		$	(879	)	$	6,142
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of tax	77			—			77
Depreciation (including capital lease amortization)	5,406			(202		)	5,204
Amortization of purchased intangible assets	4,808			—			4,808
Amortization of deferred debt issuance costs	76			—			76
Stock-based compensation	2,565			139			2,704
Deferred income tax benefit	(608		)	863			255
Loss on disposal of property, plant and equipment	6			—			6
Change in:
Accounts receivable, net	5,342			—			5,342
Inventory, net	(3,012		)	280			(2,732		)
Prepaid expenses and other	(3,146		)	(267		)	(3,413		)
Accounts payable	(5,084		)	—			(5,084		)
Customer advances	1,445			—			1,445
Accrued expenses and other liabilities	683			127			810
Net cash flows provided by continuing operations	15,579			61			15,640
Net cash flows provided by discontinued operations	239			—			239
Net cash provided by operating activities	15,818			61			15,879
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(6,472		)	—			(6,472		)
Change in other non-current assets	373			—			373
Net cash flows used in continuing operations	(6,099		)	—			(6,099		)
Net cash flows used in discontinued operations	(120		)	—			(120		)
Net cash used in investing activities	(6,219		)	—			(6,219		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(3,213		)	—			(3,213		)
Payment on loans with former owners of LRI	(47		)	—			(47		)
Payment on capital lease obligations	(23		)	—			(23		)
Payment of dividends	(1,667		)	—			(1,667		)
Net proceeds from issuance of common stock to employees and directors	234			—			234
Excess tax benefit from stock-based compensation	113			(61		)	52
Net cash used in financing activities	(4,603		)	(61		)	(4,664		)
EFFECTS OF EXCHANGE RATES ON CASH	(662		)	—			(662		)
NET INCREASE IN CASH AND CASH EQUIVALENTS	4,334			—			4,334
CASH AND CASH EQUIVALENTS, beginning of the period	10,598			—			10,598
CASH AND CASH EQUIVALENTS, end of the period	$	14,932		$	—		$	14,932

	Three months ended March 31, 2013
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	243		$	(108	)	$	135
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of tax	93			—			93
Depreciation (including capital lease amortization)	1,272			—			1,272
Amortization of purchased intangible assets	1,585			—			1,585
Amortization of deferred debt issuance costs	25			—			25
Stock-based compensation	1,422			—			1,422
Deferred income tax benefit	130			173			303
Loss on disposal of property, plant and equipment	21			—			21
Change in:
Accounts receivable, net	2,784			—			2,784
Inventory, net	619			—			619
Prepaid expenses and other	(952		)	—			(952		)
Accounts payable	(596		)	—			(596		)
Customer advances	55			—			55
Accrued expenses and other liabilities	(916		)	(65		)	(981		)
Net cash flows provided by continuing operations	5,785			—			5,785
Net cash flows provided by discontinued operations	559			—			559
Net cash provided by operating activities	6,344			—			6,344
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(4,366		)	—			(4,366		)
Change in other non-current assets	45			—			45
Net cash flows used in continuing operations	(4,321		)	—			(4,321		)
Net cash flows used in discontinued operations	(87		)	—			(87		)
Net cash used in investing activities	(4,408		)	—			(4,408		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(202		)	—			(202		)
Payment on loans with former owners of LRI	(16		)	—			(16		)
Payment on capital lease obligations	(13		)	—			(13		)
Payment of dividends	(540		)	—			(540		)
Excess tax benefit from stock-based compensation	(890		)	—			(890		)
Net cash used in financing activities	(1,661		)	—			(1,661		)
EFFECTS OF EXCHANGE RATES ON CASH	(247		)	—			(247		)
NET INCREASE IN CASH AND CASH EQUIVALENTS	28			—			28
CASH AND CASH EQUIVALENTS, beginning of the period	8,218			—			8,218
CASH AND CASH EQUIVALENTS, end of the period	$	8,246		$	—		$	8,246

	Six months ended June 30, 2013
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	3,698		$	(482	)	$	3,216
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax	(217		)	—			(217		)
Depreciation (including capital lease amortization)	2,583			—			2,583
Amortization of purchased intangible assets	3,153			—			3,153
Amortization of deferred debt issuance costs	51			—			51
Stock-based compensation	2,057			—			2,057
Deferred income tax benefit	229			547			776
Loss on disposal of property, plant and equipment	21			—			21
Change in:
Accounts receivable, net	(5,193		)	—			(5,193		)
Inventory, net	1,960			—			1,960
Prepaid expenses and other	(545		)	—			(545		)
Accounts payable	3,105			—			3,105
Customer advances	3,434			—			3,434
Accrued expenses and other liabilities	409			(65		)	344
Net cash flows provided by continuing operations	14,745			—			14,745
Net cash flows provided by discontinued operations	680			—			680
Net cash provided by operating activities	15,425			—			15,425
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(9,301		)	—			(9,301		)
Change in other non-current assets	192			—			192
Net cash flows used in continuing operations	(9,109		)	—			(9,109		)
Net cash flows used in discontinued operations	(425		)	—			(425		)
Net cash used in investing activities	(9,534		)	—			(9,534		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(9,811		)	—			(9,811		)
Payment on loans with former owners of LRI	(32		)	—			(32		)
Payment on capital lease obligations	(25		)	—			(25		)
Payment of dividends	(1,088		)	—			(1,088		)
Net proceeds from issuance of common stock to employees and directors	163			—			163
Excess tax benefit from stock-based compensation	(836		)	—			(836		)
Net cash used in financing activities	(11,629		)	—			(11,629		)
EFFECTS OF EXCHANGE RATES ON CASH	(112		)	—			(112		)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(5,850		)	—			(5,850		)
CASH AND CASH EQUIVALENTS, beginning of the period	8,218			—			8,218
CASH AND CASH EQUIVALENTS, end of the period	$	2,368		$	—		$	2,368

	Nine months ended September 30, 2013
	As Reported			Adjustments			Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	7,308		$	(860	)	$	6,448
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (income) from discontinued operations, net of tax	(473		)	—			(473		)
Depreciation (including capital lease amortization)	4,004			—			4,004
Amortization of purchased intangible assets	4,734			—			4,734
Amortization of deferred debt issuance costs	76			—			76
Stock-based compensation	2,685			—			2,685
Deferred income tax benefit	(126		)	1,018			892
Loss on disposal of property, plant and equipment	5			—			5
Change in:
Accounts receivable, net	4,868			—			4,868
Inventory, net	6,588			—			6,588
Prepaid expenses and other	1,031			—			1,031
Accounts payable	(2,208		)	—			(2,208		)
Customer advances	21			—			21
Accrued expenses and other liabilities	1,303			(158		)	1,145
Net cash flows provided by continuing operations	29,816			—			29,816
Net cash flows provided by discontinued operations	655			—			655
Net cash provided by operating activities	30,471			—			30,471
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(13,426		)	—			(13,426		)
Change in other non-current assets	209			—			209
Net cash flows used in continuing operations	(13,217		)	—			(13,217		)
Net cash flows used in discontinued operations	(604		)	—			(604		)
Net cash used in investing activities	(13,821		)	—			(13,821		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings (repayments) on bank lines of credit, net	(13,252		)	—			(13,252		)
Payment on loans with former owners of LRI	(47		)	—			(47		)
Payment on capital lease obligations	(39		)	—			(39		)
Payment of dividends	(1,637		)	—			(1,637		)
Net proceeds from issuance of common stock to employees and directors	163			—			163
Excess tax benefit from stock-based compensation	(895		)	—			(895		)
Net cash used in financing activities	(15,707		)	—			(15,707		)
EFFECTS OF EXCHANGE RATES ON CASH	172			—			172
NET INCREASE IN CASH AND CASH EQUIVALENTS	1,115			—			1,115
CASH AND CASH EQUIVALENTS, beginning of the period	8,218			—			8,218
CASH AND CASH EQUIVALENTS, end of the period	$	9,333		$	—		$	9,333