Discontunued Operations Discontunued Operations (Notes)

6 Months Ended

Jun. 30, 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 previously used by ASMP. The Company has 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 June 30,				Six Months Ended June 30,
	2015		2014		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 and gain from discontinued operations, net of taxes	$	—	$	—	$	—	$	1,367
Basic and diluted income per share	$	—	$	—	$	—	$	0.16