Discontunued Operations Discontunued Operations (Notes)

3 Months Ended

Mar. 31, 2015

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

On February 14, 2014, the Company completed the sale of substantially all of the assets of Automatic Screw Machine Products Company, Inc. ("ASMP"), a wholly-owned subsidiary, to Nelson Stud Welding, Inc. (“Buyer”), an indirect subsidiary of Doncasters Group Limited, for a purchase price of $12.5 million. In addition, the Buyer agreed to lease the real property located in Decatur, Alabama currently used by ASMP. The Company classified ASMP's operating results as discontinued operations.

The following table details the components of income from discontinued operations:

	(Dollars in thousands, except per share data)
	Three Months Ended March 31,
	2015		2014
Net sales	$	—	$	2,462
Pre-tax income from discontinued operations	$	—	$	346
Income tax expense	—		(133		)
Income from discontinued operations	$	—	$	213
Pre-tax gain on sale of ASMP	$	—	$	1,877
Income tax expense	—		(723		)
Net gain on sale of ASMP	$	—	$	1,154
Income from discontinued operations, net of taxes	$	—	$	1,367
Basic and diluted income per share	$	—	$	0.16