Annual report pursuant to Section 13 and 15(d)

NET INCOME PER COMMON SHARE (Details)

v3.8.0.1
NET INCOME PER COMMON SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
[1],[2]
Sep. 30, 2017
[2],[3]
Jun. 30, 2017
[2],[4]
Mar. 31, 2017
[2]
Dec. 31, 2016
[2]
Sep. 30, 2016
[2]
Jun. 30, 2016
[2]
Mar. 31, 2016
[2]
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
NET INCOME PER COMMON SHARE [Abstract]                      
Net income                 $ 18,009 $ 19,428 $ 18,598
Basic earnings per common share [Abstract]                      
Weighted average shares outstanding (in shares)                 24,294,000 24,284,000 24,370,000
Per share amount (in dollars per share) $ 0.58 $ 0.07 $ 0.03 $ 0.06 $ (0.03) $ 0.12 $ 0.42 $ 0.30 $ 0.74 [2] $ 0.80 [2] $ 0.76
Diluted earnings per common share [Abstract]                      
Weighted average shares outstanding (in shares)                 25,129,000 24,982,000 25,181,000
Per share amount (in dollars per share) $ 0.56 $ 0.07 $ 0.03 $ 0.06 $ (0.03) $ 0.11 $ 0.41 $ 0.29 $ 0.72 [2] $ 0.78 [2] $ 0.74
Weighted average shares-denominator basic computation (in shares)                 24,294,000 24,284,000 24,370,000
Unvested restricted stock unit grant (in shares)                 367,000 310,000 141,000
Effect of dilutive stock options (in shares)                 468,000 388,000 670,000
Weighted average shares, as adjusted denominator diluted computation (in shares)                 25,129,000 24,982,000 25,181,000
Potential common stock shares issuable upon exercise of options (in shares)                 1,323,587 1,348,437 1,376,437
[1] As discussed in Note 17 the TCJA changed the federal corporate income tax rates from 35% to 21% resulting in a benefit from deferred taxes of approximately $10.3 million.
[2] Basic and diluted earnings per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.
[3] As discussed in Note 11, in July 2016 AMAK issued four million shares. As a result of the equity issuance, our share of the net assets of AMAK increased approximately $3.2 million which we recognized as a gain.
[4] On May 2, 2016, we purchased B Plant. As discussed in Note 3, we recorded a bargain purchase gain of approximately $11.5 million on the transaction.