Note 2 - Accounts Receivable

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Financing Receivables [Text Block]

2. Accounts Receivable: 

Accounts receivable are presented net of allowances for doubtful accounts and unissued credits of $3.0 million and $2.8 million as of June 30, 2013 and December 31, 2012, respectively. The allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that have been identified. Estimations are based upon a calculated percentage of accounts receivable, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of its allowance for doubtful accounts and unissued credits each quarter.

As of June 30, 2013, “Accounts receivable, net” on the Company’s Consolidated Balance Sheets includes $1.8 million of an insurance receivable related to recovery of a portion of incremental expenses incurred during the first six months of 2013 related to the failure of a shear on one of our major pieces of processing equipment, which was repaired and became operational in May 2013. We expect to receive payment from the insurance company by the end of the year.