DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

Income from discontinued operations, net of taxes in the accompanying Consolidated Statements of Income and Comprehensive Income, is comprised of the following:

	For the Period January 1, 2016		Three months ended
	through February 11, 2016		March 31, 2015
Revenue	$	1,830,000	$	5,267,000
Cost of goods sold		1,177,000		3,247,000
Gross margin		653,000		2,020,000
Selling and general and administrative expenses		483,000		1,214,000
Interest expense-net		60,000		163,000
Income before income taxes		110,000		643,000
Income tax		38,000		235,000
Net income	$	72,000	$	408,000

The components of discontinued operations in the accompanying consolidated balance sheet are as follows:

	December 31, 2015
Accounts receivable-net	$	1,245,000
Inventories		4,211,000
Prepaid expenses and other current assets		92,000
Net property and equipment		768,000
Goodwill		1,873,000
Other intangible assets-net		12,000
Other assets- net		5,000
Deferred taxes - net		229,000
Assets of discontinued operations	$	8,435,000
Accounts payable	$	765,000
Accrued compensation and benefits		247,000
Accrued other liabilities		330,000
Liabilities of discontinued operations	$	1,342,000