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Investment in Joint Venture
 9 Months Ended
Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Joint Venture
Investment in Joint Venture
We own a 49% investment in Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”), a joint venture located in Wuxi, China. The JV is jointly controlled and managed, and we account for it under the equity method.
The following table summarizes activity related to our investment in the JV.
Balance as of December 31, 2017
$
39,822

Share of earnings
2,087

Accretion of basis difference from purchase accounting
(343
)
Foreign currency translation loss
(2,242
)
 
 
Balance as of September 30, 2018
$
39,324


We recognized sales to the JV of approximately $0.2 million and approximately $0.2 million during the nine months ended September 30, 2018 and 2017, respectively.
The following tables show selected financial data of the JV.
 
 
September 30, 2018
 
December 31, 2017
Current assets
 
$
43,351

 
$
47,600

Non-current assets
 
32,352

 
24,763

Total assets
 
$
75,703

 
$
72,363

Current liabilities
 
$
27,982

 
$
26,165

Non-current liabilities
 
5

 
22

Total liabilities
 
$
27,987

 
$
26,187


 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2018
 
2017
 
2018
 
2017
Net sales
 
$
16,026

 
$
18,582

 
$
52,140

 
$
55,166

Cost of sales
 
$
14,442

 
$
15,156

 
$
45,126

 
$
43,316

Income from operations
 
$
1,207

 
$
3,204

 
$
5,872

 
$
11,000

Net income
 
$
753

 
$
2,685

 
$
4,257

 
$
9,144