BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of activity in the allowance for doubtful accounts

        Activity in the allowance for doubtful accounts for 2014 and 2013 was as follows (in thousands):

	December 31, 2014			December 31, 2013
Beginning balance	$	802		$	177
Allowance for doubtful accounts acquired		—			460
Additional reserves		473			158
Writeoffs		(882	)		1
Effect of foreign currency translation		(26	)		6
Ending balance	$	367		$	802

Schedule of inventories including costs of materials, direct labor and manufacturing overhead, and stated at the lower of cost (first-in, first-out basis) or market

        Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or market, as follows (in thousands):

	December 31, 2014			December 31, 2013
Parts and raw materials	$	21,573		$	20,649
Work-in-process		2,924			3,369
Finished goods		4,403			4,350
		28,900			28,368
Less reserves		(3,529	)		(3,938	)
Inventories, net	$	25,371		$	24,430

Schedule of classification of property, plant and equipment

        Property, plant and equipment is classified as follows (in thousands):

	Useful lives	December 31, 2014			December 31, 2013
Land		$	996		$	654
Building and improvements	5 - 39 years		9,324			9,748
Machinery, equipment, tools and dies	3 - 15 years		37,426			40,237
Furniture, fixtures and other	3 - 10 years		6,778			4,544
			54,524			55,183
Less accumulated depreciation			(17,483	)		(15,072	)
Property, plant and equipment, net		$	37,041		$	40,111

Schedule of changes in the reserve for product warranty claims

Changes in the Company's reserve for product warranty claims during 2014 and 2013 were as follows (in thousands):

	December 31, 2014			December 31, 2013
Warranty reserve at beginning of the year	$	629		$	551
Warranty reserves acquired		—			429
Provision		234			175
Warranty expenditures		(40	)		(529	)
Effect of foreign currency translation		(37	)		3
Warranty reserve at end of year	$	786		$	629

Schedule of accrued liabilities

        Accrued liabilities consist of the following (in thousands):

	December 31, 2014		December 31, 2013
Compensation and fringe benefits	$	9,696	$	6,721
Warranty reserve		786		629
Other accrued expenses		1,848		2,548
	$	12,330	$	9,898

Schedule of financial assets accounted for at fair value on a recurring basis

        The following table presents the Company's financial assets that are accounted for at fair value on a recurring basis as of December 31, 2014 and December 31, 2013, respectively, by level within the fair value hierarchy (in thousands):

	December 31, 2014
	Level 1		Level 2			Level 3
Assets
Pension Plan Assets	$	5,095	$	—		$	—
Other long term assets		2,162		—			—
Interest rate swaps		—		(2	)		—

	December 31, 2013
	Level 1		Level 2		Level 3
Assets
Pension Plan Assets	$	4,847	$	—	$	—
Other long term assets		2,595		—		—
Interest rate swaps		—		41		—