Allient (ALNT) 10-Q6 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 06, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	0-04041
Entity Registrant Name	ALLIENT INC
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	84-0518115
Entity Address, Address Line One	495 Commerce Drive
Entity Address, City or Town	Amherst
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14228
City Area Code	716
Local Phone Number	242-8634
Title of 12(b) Security	Common stock
Trading Symbol	ALNT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,845,378
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000046129
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 37,118	$ 31,901
Trade receivables, net of provision for credit losses of $1,239 and $1,240 at September 30, 2024 and December 31, 2023, respectively	82,549	85,127
Inventories	117,605	117,686
Prepaid expenses and other assets	13,582	13,437
Total current assets	250,854	248,151
Property, plant, and equipment, net	68,396	67,463
Deferred income taxes	7,663	7,760
Intangible assets, net	104,593	111,373
Goodwill	134,390	131,338
Operating lease assets	23,627	24,032
Other long-term assets	6,912	7,425
Total Assets	596,435	597,542
Current liabilities:
Accounts payable	28,894	39,129
Accrued liabilities	32,292	56,488
Total current liabilities	61,186	95,617
Long-term debt	231,415	218,402
Deferred income taxes	4,078	4,337
Pension and post-retirement obligations	2,735	2,679
Operating lease liabilities	19,343	19,532
Other long-term liabilities	4,811	5,400
Total liabilities	323,568	345,967
Stockholders' Equity:
Common stock, no par value, authorized 50,000 shares; 16,840 and 16,308 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	110,278	95,937
Preferred stock, par value $1.00 per share, authorized 5,000 shares; no shares issued or outstanding
Retained earnings	174,497	165,813
Accumulated other comprehensive loss	(11,908)	(10,175)
Total stockholders' equity	272,867	251,575
Total Liabilities and Stockholders' Equity	$ 596,435	$ 597,542

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade receivables, net of provision for credit losses	$ 1,239	$ 1,240
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	50,000	50,000
Common stock, shares issued	16,840	16,308
Common stock, shares outstanding	16,840	16,308
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized shares	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Revenues	$ 125,213	$ 145,319	$ 407,958	$ 437,637
Cost of goods sold	85,949	97,821	280,641	298,328
Gross profit	39,264	47,498	127,317	139,309
Operating costs and expenses:
Selling	6,323	6,021	19,283	18,354
General and administrative	13,856	14,642	42,438	43,624
Engineering and development	9,056	10,702	30,416	31,041
Business development	278	1,194	2,204	1,791
Amortization of intangible assets	3,135	3,075	9,381	9,226
Total operating costs and expenses	32,648	35,634	103,722	104,036
Operating income	6,616	11,864	23,595	35,273
Other expense, net:
Interest expense	3,435	3,164	10,207	9,309
Other expense, net	468	42	405	187
Total other expense, net	3,903	3,206	10,612	9,496
Income before income taxes	2,713	8,658	12,983	25,777
Income tax provision	(612)	(1,992)	(2,830)	(6,027)
Net income	$ 2,101	$ 6,666	$ 10,153	$ 19,750
Basic earnings per share:
Earnings per share	$ 0.13	$ 0.42	$ 0.61	$ 1.24
Basic weighted average common shares	16,574	15,979	16,513	15,940
Diluted earnings per share:
Earnings per share	$ 0.13	$ 0.41	$ 0.61	$ 1.22
Diluted weighted average common shares	16,605	16,237	16,581	16,198
Net income	$ 2,101	$ 6,666	$ 10,153	$ 19,750
Other comprehensive income (loss):
Foreign currency translation adjustment	5,821	(2,923)	235	(1,995)
Loss on derivatives, net of tax	(1,379)	(170)	(1,968)	(596)
Comprehensive income	$ 6,543	$ 3,573	$ 8,420	$ 17,159

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Retained Earnings	Foreign Currency Translation Adjustments	Accumulated income (loss) on derivatives	Pension adjustments	Total
Balance at the beginning at Dec. 31, 2022	$ 83,852	$ 143,576	$ (16,925)	$ 5,556	$ (594)	$ 215,465
Balance at the beginning (in shares) at Dec. 31, 2022	15,978
Increase (Decrease) in Stockholders' Equity
Stock transactions under employee benefit stock plans	$ 1,246					1,246
Stock transactions under employee benefit stock plans (in shares)	31
Issuance of restricted stock, net of forfeitures	$ (34)					(34)
Issuance of restricted stock, net of forfeitures (in shares)	103
Share issuance in connection with acquisitions	$ 6,250					6,250
Share issuance in connection with acquisitions (in shares)	185
Stock-based compensation expense	$ 1,267					1,267
Shares withheld for payment of employee payroll taxes	$ (146)					(146)
Shares withheld for payment of employee payroll taxes (in shares)	(4)
Comprehensive income (loss)			1,354	(1,565)		(211)
Tax effect of derivative transactions				432		432
Net income		6,315				6,315
Dividends to stockholders		(403)				(403)
Balance at the ending at Mar. 31, 2023	$ 92,435	149,488	(15,571)	4,423	(594)	230,181
Balance at the ending (in shares) at Mar. 31, 2023	16,293
Balance at the beginning at Dec. 31, 2022	$ 83,852	143,576	(16,925)	5,556	(594)	215,465
Balance at the beginning (in shares) at Dec. 31, 2022	15,978
Increase (Decrease) in Stockholders' Equity
Net income						19,750
Balance at the ending at Sep. 30, 2023	$ 94,742	161,953	(18,920)	4,960	(594)	242,141
Balance at the ending (in shares) at Sep. 30, 2023	16,280
Balance at the beginning at Mar. 31, 2023	$ 92,435	149,488	(15,571)	4,423	(594)	230,181
Balance at the beginning (in shares) at Mar. 31, 2023	16,293
Increase (Decrease) in Stockholders' Equity
Issuance of restricted stock, net of forfeitures	$ 11					11
Issuance of restricted stock, net of forfeitures (in shares)	14
Stock-based compensation expense	$ 1,544					1,544
Shares withheld for payment of employee payroll taxes	$ (1,507)					(1,507)
Shares withheld for payment of employee payroll taxes (in shares)	(39)
Comprehensive income (loss)			(426)	930		504
Tax effect of derivative transactions				(223)		(223)
Net income		6,769				6,769
Dividends to stockholders		(485)				(485)
Balance at the ending at Jun. 30, 2023	$ 92,483	155,772	(15,997)	5,130	(594)	236,794
Balance at the ending (in shares) at Jun. 30, 2023	16,268
Increase (Decrease) in Stockholders' Equity
Issuance of restricted stock, net of forfeitures (in shares)	(18)
Share issuance in connection with acquisitions	$ 1,079					1,079
Share issuance in connection with acquisitions (in shares)	35
Stock-based compensation expense	$ 1,354					1,354
Shares withheld for payment of employee payroll taxes	$ (174)					(174)
Shares withheld for payment of employee payroll taxes (in shares)	(5)
Comprehensive income (loss)			(2,923)	(224)		(3,147)
Tax effect of derivative transactions				54		54
Net income		6,666				6,666
Dividends to stockholders		(485)				(485)
Balance at the ending at Sep. 30, 2023	$ 94,742	161,953	(18,920)	4,960	(594)	242,141
Balance at the ending (in shares) at Sep. 30, 2023	16,280
Balance at the beginning at Dec. 31, 2023	$ 95,937	165,813	(13,256)	3,425	(344)	$ 251,575
Balance at the beginning (in shares) at Dec. 31, 2023	16,308					16,308
Increase (Decrease) in Stockholders' Equity
Stock transactions under employee benefit stock plans	$ 1,564					$ 1,564
Stock transactions under employee benefit stock plans (in shares)	58
Issuance of restricted stock, net of forfeitures	$ (139)					(139)
Issuance of restricted stock, net of forfeitures (in shares)	167
Share issuance in connection with acquisitions	$ 6,250					6,250
Share issuance in connection with acquisitions (in shares)	203
Share issuance to settle contingent consideration	$ 4,874					4,874
Share issuance to settle contingent consideration (in shares)	174
Stock-based compensation expense	$ 1,211					1,211
Shares withheld for payment of employee payroll taxes	$ (121)					(121)
Shares withheld for payment of employee payroll taxes (in shares)	(4)
Comprehensive income (loss)			(4,408)	(102)		(4,510)
Tax effect of derivative transactions				24		24
Net income		6,902				6,902
Dividends to stockholders		(500)				(500)
Balance at the ending at Mar. 31, 2024	$ 109,576	172,215	(17,664)	3,347	(344)	267,130
Balance at the ending (in shares) at Mar. 31, 2024	16,906
Balance at the beginning at Dec. 31, 2023	$ 95,937	165,813	(13,256)	3,425	(344)	$ 251,575
Balance at the beginning (in shares) at Dec. 31, 2023	16,308					16,308
Increase (Decrease) in Stockholders' Equity
Net income						$ 10,153
Balance at the ending at Sep. 30, 2024	$ 110,278	174,497	(13,021)	1,457	(344)	$ 272,867
Balance at the ending (in shares) at Sep. 30, 2024	16,840					16,840
Balance at the beginning at Mar. 31, 2024	$ 109,576	172,215	(17,664)	3,347	(344)	$ 267,130
Balance at the beginning (in shares) at Mar. 31, 2024	16,906
Increase (Decrease) in Stockholders' Equity
Issuance of restricted stock, net of forfeitures (in shares)	(23)
Stock-based compensation expense	$ 1,073					1,073
Shares withheld for payment of employee payroll taxes	$ (1,446)					(1,446)
Shares withheld for payment of employee payroll taxes (in shares)	(42)
Comprehensive income (loss)			(1,178)	(673)		(1,851)
Tax effect of derivative transactions				162		162
Net income		1,150				1,150
Dividends to stockholders		(503)				(503)
Balance at the ending at Jun. 30, 2024	$ 109,203	172,862	(18,842)	2,836	(344)	265,715
Balance at the ending (in shares) at Jun. 30, 2024	16,841
Increase (Decrease) in Stockholders' Equity
Stock-based compensation expense	$ 1,098					1,098
Shares withheld for payment of employee payroll taxes	$ (23)					(23)
Shares withheld for payment of employee payroll taxes (in shares)	(1)
Comprehensive income (loss)			5,821	(1,809)		4,012
Tax effect of derivative transactions				430		430
Net income		2,101				2,101
Dividends to stockholders		(466)				(466)
Balance at the ending at Sep. 30, 2024	$ 110,278	$ 174,497	$ (13,021)	$ 1,457	$ (344)	$ 272,867
Balance at the ending (in shares) at Sep. 30, 2024	16,840					16,840

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Dividends to stockholders (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.025

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows From Operating Activities:
Net income	$ 10,153	$ 19,750
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	19,248	18,956
Deferred income taxes	(45)	122
Stock-based compensation expense	3,382	4,165
Debt issue cost amortization recorded in interest expense	379	225
Other	3,248	987
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables	6,012	(14,358)
Inventories	5,500	(1,344)
Prepaid expenses and other assets	142	(1,553)
Accounts payable	(12,259)	2,871
Accrued liabilities	(6,302)	(2,689)
Net cash provided by operating activities	29,458	27,132
Cash Flows From Investing Activities:
Consideration paid for acquisitions, net of cash acquired	(25,231)	(11,004)
Purchase of property and equipment	(6,903)	(7,850)
Net cash used in investing activities	(32,134)	(18,854)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt	76,898	11,000
Principal payments of long-term debt and finance lease obligations	(61,333)	(22,325)
Payment of contingent consideration	(2,450)
Payment of debt issuance costs	(2,329)
Dividends paid to stockholders	(1,505)	(1,348)
Tax withholdings related to net share settlements of restricted stock	(1,596)	(1,827)
Net cash provided by (used in) financing activities	7,685	(14,500)
Effect of foreign exchange rate changes on cash	208	(556)
Net increase (decrease) in cash and cash equivalents	5,217	(6,778)
Cash and cash equivalents at beginning of period	31,901	30,614
Cash and cash equivalents at end of period	37,118	23,836
Supplemental disclosure of cash flow information:
Stock issued for acquisitions	6,250	7,329
Stock issued to settle contingent consideration	4,874
Property, plant and equipment purchases in accounts payable or accrued expenses	952	1,960
Debt issuance costs in accounts payable or accrued expenses	$ 568	$ 185

BASIS OF PREPARATION AND PRESEN

BASIS OF PREPARATION AND PRESENTATION	9 Months Ended
BASIS OF PREPARATION AND PRESENTATION	Sep. 30, 2024
BASIS OF PREPARATION AND PRESENTATION
BASIS OF PREPARATION AND PRESENTATION	1. BASIS OF PREPARATION AND PRESENTATION Allient Inc. (“Allient”) or (“The Company”) is engaged in the business of designing, manufacturing, and selling precision motion, control, power and structural composites to provide integrated system solutions as well as individual products, to a broad spectrum of customers throughout the world primarily for the industrial, vehicle, medical, and aerospace and defense markets. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using end of period exchange rates. Changes in reported amounts of assets and liabilities of foreign subsidiaries that occur as a result of changes in exchange rates between the foreign subsidiaries’ functional currencies and the U.S. dollar are included in foreign currency translation adjustment. Foreign currency translation adjustment is included in accumulated other comprehensive loss, a component of stockholders’ equity in the accompanying condensed consolidated statements of stockholders’ equity. Revenue and expense transactions use an average rate prevailing during the month of the related transaction. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency of each of the foreign subsidiaries are included in the results of operations as incurred in other expense, net. The condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and include all adjustments which are, in the opinion of management, necessary for a fair presentation. Certain information and footnote disclosures normally included in financial statements which are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The Company believes that the disclosures herein are adequate to make the information presented not misleading. The financial data for the interim periods may not necessarily be indicative of results to be expected for the year. The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities as well as disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. It is suggested that the accompanying condensed consolidated financial statements be read in conjunction with the Consolidated Financial Statements and related Notes to such statements included in the Annual Report on Form 10-K for the year ended December 31, 2023 that was previously filed by the Company.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Sep. 30, 2024
ACQUISITIONS
ACQUISITIONS	2. ACQUISITIONS On January 11, 2024, the Company acquired 100% of the outstanding shares of SNC Manufacturing Co., Inc. (a Wisconsin corporation) and Acutran de Mexico, S.A. de C.V. (a Mexican corporation), (collectively “SNC”), a premier designer and global manufacturer of electrical transformers serving blue-chip customers in defense, industrial automation, alternative power generation and energy, including electric utilities and renewable energy. The initial purchase price consisted of $20.0 million in cash paid at closing, subject to customary post-closing working capital adjustments. The purchase price allocation is subject to adjustments based on a final determination of certain tax matters. Measurement period adjustments to the initial purchase price allocation were made during the second quarter of 2024 that resulted in a decrease of the purchase price of . Adjustments were made in the third quarter of 2024 that resulted in a decrease to inventory of The Company incurred $313 of transaction costs related to the acquisition during the nine months ended September 30, 2024, which are included in business development on the condensed consolidated statements of income and comprehensive income. The operating results of the acquisition are included in the condensed consolidated financial statements beginning on the date of the acquisition. Revenue of SNC included within the condensed consolidated statements of income and comprehensive income for the three months ended September 30, 2024 was Cash and cash equivalents $ 881 Trade receivables 3,467 Inventories 8,600 Prepaid expenses and other assets 496 Property, plant, and equipment 4,258 Operating lease assets 378 Intangible assets 2,900 Goodwill 3,075 Other current liabilities (3,188) Deferred revenue (55) Operating lease liabilities (378) Net deferred income tax liabilities (592) Other noncurrent liabilities (118) Net purchase price $ 19,724 The preliminary fair values of the assets acquired were determined using one of three valuation approaches: market, income or cost. The selection of a particular method for a given asset depended on the reliability of available data and the nature of the asset, among other considerations. The market approach estimates the value for a subject asset based on available market pricing for comparable assets. The income approach estimates the value for a subject asset based on the present value of cash flows projected to be generated by the asset. The projected cash flows were discounted at a required rate of return that reflects the relative risk of the asset and the time value of money. The projected cash flows for each asset considered multiple factors from the perspective of a marketplace participant including revenue projections from existing customers, attrition trends, technology life-cycle assumptions, marginal tax rates and expected profit margins considering historical and expected margins. The cost approach estimates the value for a subject asset based on the cost to replace the asset and reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation or obsolescence, with specific consideration given to economic obsolescence if indicated. These fair value measurement approaches are based on significant unobservable inputs, including management estimates and assumptions. The intangible assets acquired consist of $1,500 of customers lists, $600 of trade name, and $800 of technology, which are being amortized over 12, 10, and 10 years , respectively. Goodwill generated is related to the assembled workforce, synergies between Allient’s other operations and SNC that are expected to occur as a result of the combined engineering knowledge, the ability of each of the operations to integrate each other’s products into more fully integrated system solutions, and Allient’s ability to utilize SNC’s management knowledge in providing complementary product offerings to the Company’s customers. The goodwill resulting from the acquisition is not tax deductible. On September 22, 2023, the Company acquired 100% of the ownership interest in Sierramotion Inc. (“Sierramotion”), a company headquartered in California, that specializes in designing and engineering turn-key motion components and mechatronic solutions for robotic, medical, industrial, defense, semiconductor, and other precision applications. The final purchase price for Sierramotion of million included contingent consideration payable which was paid in the first quarter of 2024 (see Note 12 for breakout of payment) and at closing consisted of a combination of cash and Company stock. The intangible assets and goodwill are expected to be deductible for tax purposes. The purchase price allocation is final for this acquisition. Transaction costs for the acquisition were not material. The operating results of this acquisition are included in the condensed consolidated financial statements beginning on the acquisition date and the revenue and earnings in the current year periods presented are not material. On January 3, 2024, the final deferred acquisition payment for Spectrum of $12,500 (comprised of 50% cash and 50% Company stock) was paid. The following pro forma financial information presents the combined results of operations if the SNC acquisition had occurred as of January 1, 2023 and the Sierramotion acquisition had occurred as of January 1, 2022: Three months ended Nine months ended September 30, September 30, September 30, 2023 2024 2023 Revenues $ 156,797 $ 409,252 $ 469,392 Income before income taxes $ 9,261 $ 13,702 $ 27,286 The pro forma information includes certain adjustments, including depreciation and amortization expense, interest expense, and certain other adjustments, together with related income tax effects. The pro forma amounts do not reflect adjustments for anticipated operating efficiencies that the Company expected to or has subsequently achieved as a result of these acquisitions. The pro forma financial information is for informational purposes only and does not purport to present what the Company’s results would have been had these transactions occurred on the date presented or to project the combined company’s results of operations or financial position for future periods.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
REVENUE RECOGNITION	Sep. 30, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	3. REVENUE RECOGNITION Performance Obligations The Company considers control of most products to transfer at a single point in time when control is transferred to the customer, generally when the products are shipped in accordance with an agreement and/or purchase order. Control is defined as the ability to direct the use of and obtain substantially all of the remaining benefits of the product. The Company satisfies its performance obligations under a contract with a customer by transferring goods and services in exchange for monetary consideration from the customer. The Company considers the customer’s purchase order, and the Company’s corresponding sales order acknowledgment as the contract with the customer. For some customers, control, and a sale, is transferred at a point in time when the product is delivered to a customer. For a limited number of contracts, for which revenue derived is not material in the periods presented, the Company recognizes revenue over time in proportion to costs incurred. Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. Nature of Goods and Services The Company designs, manufactures, and sells precision motion, control, power, and structural components to provide integrated system solutions as well as individual products to end customers and original equipment manufacturers (“OEM’s”) through the Company’s own direct sales force and authorized manufacturers’ representatives and distributors. The Company’s products include brushed and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active and passive filters for power quality and harmonic issues, transformers, and other controlled motion-related products. The Company’s target markets include Industrial, Vehicle, Medical, and Aerospace & Defense Determining the Transaction Price The majority of the Company’s contracts have an original duration of less than one year. For these contracts, the Company applies the practical expedient and therefore does not consider the effects of the time value of money. For multiyear contracts, the Company uses judgment to determine whether there is a significant financing component. These contracts are generally those in which the customer has made an up-front payment. Contracts that management determines to include a significant financing component are discounted at the Company’s incremental borrowing rate. The Company incurs interest expense and accrues a contract liability. As the Company satisfies performance obligations and recognizes revenue from these contracts, interest expense is recognized simultaneously. Management does not have any contracts that include a significant financing component as of September 30, 2024 and December 31, 2023. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers into geographical regions and target markets. The Company determines that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. As noted below in Note 18, Segment Information A disaggregation of revenue by target market and geography is provided below: Three months ended Nine months ended September 30, September 30, Target Market 2024 2023 2024 2023 Industrial $ 59,152 $ 64,921 $ 192,230 $ 193,766 Vehicle 20,353 32,989 83,669 98,559 Medical 20,507 21,693 58,828 66,254 Aerospace & Defense 18,332 19,972 53,627 60,237 Distribution and Other 6,869 5,744 19,604 18,821 Total $ 125,213 $ 145,319 $ 407,958 $ 437,637 Three months ended Nine months ended September 30, September 30, Geography 2024 2023 2024 2023 North America (primarily U.S.) $ 85,263 $ 102,502 $ 276,886 $ 300,834 Europe 33,859 35,456 111,664 113,679 Asia-Pacific 6,091 7,361 19,408 23,124 Total $ 125,213 $ 145,319 $ 407,958 $ 437,637 Contract Balances When the timing of the Company’s delivery of product is different from the timing of the payments made by customers, the Company recognizes either a contract asset (performance precedes customer payment) or a contract liability (customer payment precedes performance). Typically, contracts are paid in arrears and are recognized as receivables after the Company considers whether a significant financing component exists. The opening and closing balances of the Company’s contract liabilities are as follows: September 30, December 31, 2024 2023 Contract liabilities in accrued liabilities $ 1,853 $ 2,137 Contract liabilities in other long-term liabilities — 8 $ 1,853 $ 2,145 The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. Significant Payment Terms The Company’s contracts with its customers state the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payments are typically due in full within 30-60 days of delivery. Since the customer agrees to a stated rate and price in the contract that do not vary over the contract, the majority of contracts do not contain variable consideration. Returns, Refunds, and Warranties In the normal course of business, the Company does not accept product returns unless the item is defective as manufactured. The Company establishes provisions for estimated returns and warranties. All contracts include a standard warranty clause to guarantee that the product complies with agreed specifications.

INVENTORIES

INVENTORIES	9 Months Ended
INVENTORIES	Sep. 30, 2024
INVENTORIES
INVENTORIES	4. INVENTORIES Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value, as follows: September 30, December 31, 2024 2023 Parts and raw materials $ 85,670 $ 87,381 Work-in-process 11,897 11,456 Finished goods 20,038 18,849 $ 117,605 $ 117,686

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Sep. 30, 2024
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT Property, plant, and equipment is classified as follows: September 30, December 31, Useful lives 2024 2023 Land $ 1,786 $ 973 Building and improvements 5 - 39 years 29,090 26,201 Machinery, equipment, tools and dies 3 - 15 years 107,222 99,711 Construction in progress 8,138 9,300 Furniture, fixtures and other 3 - 10 years 25,322 24,439 171,558 160,624 Less accumulated depreciation (103,162) (93,161) Property, plant, and equipment, net $ 68,396 $ 67,463 Depreciation expense was $3,312 and $3,346 for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, depreciation expense was approximately $9,667 and $9,730, respectively.

GOODWILL

GOODWILL	9 Months Ended
GOODWILL	Sep. 30, 2024
GOODWILL
GOODWILL	6. GOODWILL The change in the carrying amount of goodwill for the nine months ended September 30, 2024 is as follows: September 30, 2024 Beginning balance $ 131,338 Goodwill acquired 2,752 Impact of measurement period adjustments of acquisitions (Note 2) 323 Effect of foreign currency translation (23) Ending balance $ 134,390

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
INTANGIBLE ASSETS	Sep. 30, 2024
INTANGIBLE ASSETS
INTANGIBLE ASSETS	7. INTANGIBLE ASSETS Intangible assets on the Company’s condensed consolidated balance sheets consist of the following: Weighted Average September 30, 2024 December 31, 2023 Amortization Gross Accumulated Net Book Gross Accumulated Net Book Period Amount Amortization Value Amount Amortization Value Customer lists 14.1 years $ 118,164 $ (48,641) $ 69,523 $ 116,831 $ (42,421) $ 74,410 Trade name 13.7 years 16,186 (8,496) 7,690 15,572 (7,916) 7,656 Design and technologies 10.5 years 42,245 (14,865) 27,380 41,480 (12,173) 29,307 Total $ 176,595 $ (72,002) $ 104,593 $ 173,883 $ (62,510) $ 111,373 Amortization expense for intangible assets was $3,135 and $3,075 for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense was Estimated future intangible asset amortization expense as of September 30, 2024 is as follows: Year ending December 31, Total Estimated Amortization Expense Remainder of 2024 $ 3,305 2025 12,570 2026 12,472 2027 12,028 2028 11,280 Thereafter 52,938 Total estimated amortization expense $ 104,593

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Sep. 30, 2024
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	8. STOCK-BASED COMPENSATION Stock Incentive Plans The Company’s Stock Incentive Plans provide for the granting of stock awards, including restricted stock, stock options and stock appreciation rights, to employees and non-employees, including directors of the Company. Restricted Stock For the nine months ended September 30, 2024, 186,758 shares of unvested restricted stock were awarded at a weighted average market value of $29.78 . Of the restricted shares granted, shares have performance-based vesting conditions. The value of the shares expected to vest is amortized to compensation expense over the related service period, which is normally , or over the estimated performance period. Shares of unvested restricted stock are generally forfeited if a recipient leaves the Company before the vesting date. Shares that are forfeited become available for future awards. The following is a summary of restricted stock activity for the nine months ended September 30, 2024: Number of shares Outstanding at beginning of period 254,110 Awarded 186,758 Vested (119,335) Forfeited (42,162) Outstanding at end of period 279,371 Stock-based compensation expense, net of forfeitures, of $1,098 and $1,354 was recorded for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, stock based compensation expense, net of forfeitures, of $3,382 and $4,165 was recorded, respectively.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	9 Months Ended
ACCRUED LIABILITIES	Sep. 30, 2024
ACCRUED LIABILITIES
ACCRUED LIABILITIES	9 . ACCRUED LIABILITIES Accrued liabilities consist of the following: September 30, December 31, 2024 2023 Compensation and fringe benefits $ 13,448 $ 17,251 Accrued business acquisition consideration — 12,638 Warranty reserve 2,036 2,139 Income taxes payable 182 2,483 Operating lease liabilities – current 4,969 5,142 Finance lease obligations – current 439 412 Contract liabilities 1,853 2,137 Contingent consideration – current — 7,720 Restructuring related accruals 922 — Other accrued expenses 8,443 6,566 $ 32,292 $ 56,488 In the second quarter of 2024, the Company began to implement the Simplify to Accelerate NOW program. This included initiatives to realign the Company’s manufacturing footprint and streamline the organization to enhance operational efficiency and drive profitability. The costs associated with this program are expected to be between approximately The restructuring related accruals as of September 30, 2024 are expected to be substantially paid out by the end of 2024 and primarily relate to employee severance related expenses. Restructuring and business realignment are included within business development in the condensed consolidated statement of income and comprehensive income for the three and nine months ended September 30, 2024, respectively. Nine months ended September 30, 2024 Beginning balance $ — Expenses incurred 1,948 Payments (1,026) Ending balance $ 922

DEBT OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
DEBT OBLIGATIONS	Sep. 30, 2024
DEBT OBLIGATIONS
DEBT OBLIGATIONS	10. DEBT OBLIGATIONS Debt obligations consisted of the following: September 30, December 31, 2024 2023 Long-term Debt Revolving Credit Facility, long-term (1) $ 175,962 $ 210,120 Note Payable 50,000 — Unamortized debt issuance costs (2,820) (325) Finance lease obligations – noncurrent 8,273 8,607 Long-term debt $ 231,415 $ 218,402 (1) The effective interest rate on long-term debt obligations is 4.85% at September 30, 2024. On March 1, 2024, the Company entered into a Third Amended and Restated Credit Agreement (the “2024 Amended Credit Agreement”) for a $280 million revolving credit facility (the “Revolving Facility”). The changes made to the Company’s previous credit facility by the 2024 Amended Credit Agreement include: i) providing for a $50 million accordion amount and ii) extending the term from February 12, 2025 to March 1, 2029. Additionally, the Company has entered into a $150 million fixed-rate private shelf facility (the “2024 Note Payable Agreement”) under which $50.0 million of borrowings occurred on March 21, 2024. These agreements, collectively, are referred to as the “2024 Credit and Note Payable Agreements”. Pursuant to the 2024 Note Payable Agreement, the Company may from time to time issue and sell, and the borrower may consider in its sole discretion the purchase of, in one or a series of transactions, senior notes of the Company in an aggregate principal amount of up to $150 million (“Shelf Notes”). The Shelf Notes will have a maturity date of no more than years after the date of original issuance and may be issued through March 1, 2027, unless either party terminates such issuance right. Debt issuance costs of Borrowings under the Revolving Facility bear interest at the Term SOFR Rate (as defined in the 2024 Amended Credit Agreement) plus a margin of 1.25% to 2.50% or the Alternative Base Rate (as defined in the Amended Credit Agreement) plus a margin of 0.25% to 1.50%, in each case depending on the Company’s ratio of Funded Indebtedness (as defined in the 2024 Amended Credit Agreement) to Consolidated EBITDA (the “Leverage Ratio”). In addition, the Company is required to pay a commitment fee of between 0.15% and 0.325% quarterly on the unused portion of the Revolving Facility, also based on the Company’s Leverage Ratio. Financial covenants under the 2024 Credit and Note Payable Agreements require the Company to maintain a minimum interest coverage ratio of at least 3.0:1.0 at the end of each fiscal quarter. In addition, the Company’s Leverage Ratio at the end of any fiscal quarter shall not be greater than 4.25:1.0 through December 31, 2024 or greater than 3.75 to 1.0 as of the end of any fiscal quarter thereafter; provided that the Company may elect to temporarily increase the Leverage Ratio by 0.5 :1.0 following a material acquisition under the 2024 Credit and Note Payable Agreements. The 2024 Credit and Note Payable Agreements also include covenants and restrictions that limit the Company’s ability to incur additional indebtedness, merge, consolidate or sell all or substantially all of its assets and enter into transactions with an affiliate of the Company on other than an arms’ length transaction. These covenants, which are described more fully in the 2024 Credit and Note Payable Agreements, to which reference is made for a complete statement of the covenants, are subject to certain exceptions. The Company was in compliance with all covenants as of September 30, 2024. The 2024 Credit and Note Payable Agreements also include customary events of default, including failure to pay principal, interest or fees when due, failure to comply with covenants, if any representation or warranty made by the Company is false or misleading in any material respect, default under certain other indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries, the occurrence of certain material judgments, the occurrence of certain ERISA events, the invalidity of the loan documents or a change in control of the Company. The amounts outstanding under the Revolving Facility may be accelerated upon certain events of default. The obligations under the 2024 Credit and Note Payable Agreements are secured by substantially all of the Company’s non-realty assets and are fully and unconditionally guaranteed by certain of the Company’s subsidiaries. On March 21, 2024, the Company issued and sold $50.0 million in aggregate principal amount of the Series A Senior Notes due March 21, 2031 (the “Series A Notes”). The Series A Notes were issued pursuant to the 2024 Note Payable Agreement. The Series A Notes represent senior promissory notes of the Company and will bear interest at 5.96% and will mature on March 21, 2031. Interest on the Series A Notes will be payable quarterly on the 21st day of March, June, September and December in each year, commencing on June 21, 2024. Interest is computed on the basis of a 360-day year composed of twelve 30-day months. There are no separate covenants relating to the Series A Notes. All additional borrowings are subject to the leverage ratio compliance. of the principal amount to be prepaid plus accrued interest plus the defined “Make-Whole Amount,” if any. The Make-Whole Amount is an amount equal to the excess, if any, of the discounted value of the remaining schedule payments with respect to principal on the Series A Notes being prepaid over the amount of the prepaid principal. As of September 30, 2024, the unused Revolving Facility was $104,038 . The amount available to borrow under the 2024 Credit and Note Payable Agreements may be limited by the Company’s debt and EBITDA levels, which impacts its covenant calculations . There is On October 22, 2024, the Company entered into a Second Amendment to the Third Amended and Restated Credit Agreement and a Second Amendment to the Note Purchase and Private Shelf Agreement (collectively, the “October 2024 Credit and Note Payable Amendments”). These amendments include provisions to increase the maximum Leverage Ratio to :1.0 for the quarter ending December 31, 2025 and thereafter. From January 1, 2025 through September 30, 2025, borrowings under the Revolving Facility will bear interest at Term SOFR plus a margin of on the unused portion of the Revolving Facility. Also, from October 1, 2024 through September 30, 2025, the Series A Notes will bear interest at

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Sep. 30, 2024
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	11. DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, and foreign exchange risk primarily through the use of derivative financial instruments. The Company enters into foreign currency contracts with 30-day The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements on its variable-rate debt. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In March 2020, the Company entered into that matures in December 2026. In March 2023, the Company executed amendments to the existing swaps to amend the index on the interest rate derivatives from LIBOR to SOFR. These amendments had no material financial impact to the Company’s operations or financial position. In September 2024, the Company entered into an additional interest rate swap with a notional amount of The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During 2024 and 2023, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. As of September 30, 2024, the Company estimates that $1,566 will be reclassified as a decrease to interest expense over the next twelve months related to its interest rate derivatives. The Company does not use derivatives for trading or speculative purposes. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023: Asset Derivatives Fair value as of: Derivatives designated as Balance Sheet September 30, December 31, hedging instruments Location 2024 2023 Foreign currency contracts Prepaid expenses and other assets $ 27 $ 54 Interest rate swaps Prepaid expenses and other assets 567 2,254 Interest rate swaps Other long-term assets 1,348 2,177 $ 1,942 $ 4,485 Liability Derivatives Fair value as of: Derivatives designated as Balance Sheet September 30, December 31, hedging instruments Location 2024 2023 Foreign currency contracts Accrued liabilities $ 13 $ — $ 13 $ — The tables below present the effect of cash flow hedge accounting on other comprehensive income (loss) (“OCI”) for the three and nine months ended September 30, 2024 and 2023: Amount of pre-tax (loss) gain recognized Amount of pre-tax gain recognized in OCI on derivatives in OCI on derivatives Derivatives in cash flow hedging relationships Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Interest rate swaps $ (745) $ 790 $ 566 $ 1,995 Amount of pre-tax gain reclassified Amount of pre-tax gain reclassified from accumulated OCI into income from accumulated OCI into income Location of gain reclassified Three months ended September 30, Nine months ended September 30, from accumulated OCI into income 2024 2023 2024 2023 Interest expense $ 1,064 $ 1,014 $ 3,134 $ 2,854 The table below presents the line items that reflect the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2024 and 2023: Total amounts of income and expense Total amounts of income and expense line items presented that reflect the line items presented that reflect the effects of cash flow hedges recorded effects of cash flow hedges recorded Three months ended September 30, Nine months ended September 30, Derivatives designated as hedging instruments Income Statement Location 2024 2023 2024 2023 Interest rate swaps Interest Expense $ 3,435 $ 3,164 $ 10,207 $ 9,309 The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2024 and December 31, 2023. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented in the condensed consolidated balance sheets: Derivative assets: Net amounts Gross amounts of assets Gross amounts not offset in the consolidated As of Gross amounts offset in the presented in the balance sheets September 30, of recognized consolidated consolidated Financial Cash collateral 2024 assets balance sheets balance sheets instruments received Net amount Derivatives $ 1,942 $ — $ 1,942 $ — $ — $ 1,942 Net amounts Gross amounts of assets Gross amounts not offset in the consolidated As of Gross amounts offset in the presented in the balance sheets December 31, of recognized consolidated consolidated Financial Cash collateral 2023 assets balance sheets balance sheets instruments received Net amount Derivatives $ 4,485 $ — $ 4,485 $ — $ — $ 4,485 The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

FAIR VALUE

FAIR VALUE	9 Months Ended
FAIR VALUE	Sep. 30, 2024
FAIR VALUE
FAIR VALUE	12. FAIR VALUE Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a framework for measuring fair value which utilizes observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. Preference is given to observable inputs. These two types of inputs create the following three – level fair value hierarchy: Level 1: Quoted prices for identical assets or liabilities in active markets. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model – derived valuations whose inputs or significant value drivers are observable. Level 3: Significant inputs to the valuation model that are unobservable. The Company’s financial assets and liabilities include cash and cash equivalents, accounts receivable, debt obligations, accounts payable, and accrued liabilities. The carrying amounts reported in the condensed consolidated balance sheets for these assets and liabilities approximate their fair value because of the immediate or short-term maturities of these financial instruments. The following tables presents the Company’s financial assets that are accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, respectively, by level within the fair value hierarchy: September 30, 2024 Level 1 Level 2 Level 3 Assets (liabilities) Pension plan assets $ 6,399 $ — $ — Deferred compensation plan assets 4,747 — — Foreign currency hedge contracts, net — 14 — Interest rate swaps, net — 1,915 — Contingent consideration — — — December 31, 2023 Level 1 Level 2 Level 3 Assets (liabilities) Pension plan assets $ 5,859 $ — $ — Deferred compensation plan assets 4,305 — — Foreign currency hedge contracts, net — 54 — Interest rate swaps, net — 4,431 — Contingent consideration — — (7,990) The contingent consideration fair value measurement represents amounts in connection with the acquisitions of Sierramotion, which had a maximum amount of $2,000 , and ALIO Industries (“ALIO”), which does not have a maximum amount. The measurements are based on significant inputs not observable in the market and therefore constitute Level 3 inputs within the fair value hierarchy. The Company determines the initial fair value of contingent consideration liabilities using a Monte Carlo valuation model, which involves a simulation of future earnings generated during the earn-out period using management’s best estimates, or a probability-weighted discounted cash flow analysis. was earned and settled in the first quarter of 2024. The contingent consideration of ALIO is settled remaining contingent consideration liability included on the condensed consolidated balance sheet. As of December

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
INCOME TAXES
INCOME TAXES	13. INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws, settlements with taxing authorities and foreign currency fluctuations. The effective income tax rate was 22.6% and 23.0% for the three months ended September 30, 2024 and 2023, respectively. The effective tax rate for the three months ended September 30, 2024 includes net discrete tax costs of 1.2% primarily due to share based awards and provision to return adjustments. The effective tax rate for the three months ended September 30, 2023 does not include any discrete tax items that had a significant impact on tax rates.

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2024
LEASES
LEASES	14. LEASES The Company has operating leases for office space, manufacturing facilities and equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes. Supplemental cash flow information related to the Company’s operating and finance leases for the nine months ended September 30, 2024 and 2023 was as follows: September 30, 2024 2023 Cash paid for operating leases $ 4,791 $ 4,195 Cash paid for interest on finance lease obligations $ 305 $ 318 Assets acquired under operating leases $ 3,709 $ 6,578 Operating lease assets obtained in acquisitions $ 378 $ 224 The Company’s finance lease obligations relate to a manufacturing facility. Finance lease assets of , net. As of September 30, 2024, finance lease obligations of accrued liabilities long-term debt on the condensed consolidated balance sheet. As of December 31, 2023, finance lease obligations of accrued liabilities long-term debt The following table presents the maturity of the Company’s operating and finance lease liabilities as of September 30, 2024: Operating Leases Finance Leases Remainder of 2024 $ 1,593 $ 204 2025 5,681 831 2026 4,958 848 2027 4,203 867 2028 3,259 886 Thereafter 8,001 7,884 Total undiscounted cash flows $ 27,695 $ 11,520 Less: present value discount (3,383) (2,809) Total lease liabilities $ 24,312 $ 8,711 As of September 30, 2024, the Company has entered into building lease renewals with future minimum lease payments of $1,720 that have not yet commenced. The Company has operating leases for certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $242 and $726 during the three and nine months ended September 30, 2024 and during the remainder of 2024. Future fixed minimum lease payments under these leases as of September 30, 2024 are

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	Sep. 30, 2024
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	15. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated Other Comprehensive (Loss) Income (“AOCI”) for the three months ended September 30, 2024 and 2023 is comprised of the following: Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At June 30, 2024 $ (344) $ 3,656 $ (820) $ (18,842) $ (16,350) Unrealized gain (loss) on cash flow hedges — (745) 175 — (570) Amounts reclassified from AOCI — (1,064) 255 — (809) Foreign currency translation gain — — — 5,821 5,821 At September 30, 2024 $ (344) $ 1,847 $ (390) $ (13,021) $ (11,908) Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At June 30, 2023 $ (594) $ 6,675 $ (1,545) $ (15,997) $ (11,461) Unrealized gain (loss) on cash flow hedges — 790 (189) — 601 Amounts reclassified from AOCI — (1,014) 243 — (771) Foreign currency translation loss — — — (2,923) (2,923) At September 30, 2023 $ (594) $ 6,451 $ (1,491) $ (18,920) $ (14,554) AOCI for the nine months ended September 30, 2024 and 2023 is comprised of the following: Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At December 31, 2023 $ (344) $ 4,431 $ (1,006) $ (13,256) $ (10,175) Unrealized gain (loss) on cash flow hedges — 550 (136) — 414 Amounts reclassified from AOCI — (3,134) 752 — (2,382) Foreign currency translation gain — — — 235 235 At September 30, 2024 $ (344) $ 1,847 $ (390) $ (13,021) $ (11,908) Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At December 31, 2022 $ (594) $ 7,310 $ (1,754) $ (16,925) $ (11,963) Unrealized gain (loss) on cash flow hedges — 1,995 (455) — 1,540 Amounts reclassified from AOCI — (2,854) 718 — (2,136) Foreign currency translation gain — — — (1,995) (1,995) At September 30, 2023 $ (594) $ 6,451 $ (1,491) $ (18,920) $ (14,554) The realized gains and losses relating to the Company’s interest rate swap hedges were reclassified from AOCI and included in interest expense in the condensed consolidated statements of income and comprehensive (loss) income.

DIVIDENDS PER SHARE

DIVIDENDS PER SHARE	9 Months Ended
DIVIDENDS PER SHARE	Sep. 30, 2024
DIVIDENDS PER SHARE
DIVIDENDS PER SHARE	16. DIVIDENDS PER SHARE The Company declared a quarterly dividend of $0.03 per share in the first, second, and third quarters of 2024 as well as in the second and third quarters of 2023 and $0.025 in the first quarter of 2023.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	17. EARNINGS PER SHARE Basic and diluted weighted-average shares outstanding are as follows: Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Basic weighted average shares outstanding 16,574 15,979 16,513 15,940 Dilutive effect of potential common shares 31 258 68 258 Diluted weighted average shares outstanding 16,605 16,237 16,581 16,198 For the three and nine months ended September 30, 2024, the anti-dilutive common shares excluded from the calculation of diluted earnings per share were 128,000 and 74,000 , respectively. For the three and nine months ended September 30, 2023, the anti-dilutive common shares excluded from the calculation of diluted earnings per share were immaterial.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 30, 2024
SEGMENT INFORMATION
SEGMENT INFORMATION	18. SEGMENT INFORMATION The Company operates in one segment for the manufacture and marketing of specialty-controlled motion products and solutions for end user and OEM applications. The Company’s chief operating decision maker is the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services in which the entity holds material assets and reports revenue. Revenue for the three months ended September 30, 2024 and 2023 was comprised of 56% and 61% , respectively, shipped to U.S. customers. For the nine months ended September 30, 2024 and 2023, revenue was comprised of Identifiable foreign fixed assets were $33,893 and $35,751 as of September 30, 2024 and December 31, 2023, respectively. Identifiable assets outside of the U.S. are attributable to Europe, China, Mexico, and Asia-Pacific. For the three and nine months ended September, 30, 2024, no customers individually accounted for a material concentration of revenue nor accounts receivable. For the three months ended September 30, 2023, of revenues. For the nine months ended September 30, 2023, this customer accounted for

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
ACQUISITIONS (Tables)	Sep. 30, 2024
ACQUISITIONS
Schedule of purchase price allocation and estimated fair value of the assets acquired	Cash and cash equivalents $ 881 Trade receivables 3,467 Inventories 8,600 Prepaid expenses and other assets 496 Property, plant, and equipment 4,258 Operating lease assets 378 Intangible assets 2,900 Goodwill 3,075 Other current liabilities (3,188) Deferred revenue (55) Operating lease liabilities (378) Net deferred income tax liabilities (592) Other noncurrent liabilities (118) Net purchase price $ 19,724
Schedule of unaudited pro forma financial information	Three months ended Nine months ended September 30, September 30, September 30, 2023 2024 2023 Revenues $ 156,797 $ 409,252 $ 469,392 Income before income taxes $ 9,261 $ 13,702 $ 27,286

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
REVENUE RECOGNITION (Tables)	Sep. 30, 2024
REVENUE RECOGNITION
Schedule of reconciliation of disaggregated revenue by target market and geography	Three months ended Nine months ended September 30, September 30, Target Market 2024 2023 2024 2023 Industrial $ 59,152 $ 64,921 $ 192,230 $ 193,766 Vehicle 20,353 32,989 83,669 98,559 Medical 20,507 21,693 58,828 66,254 Aerospace & Defense 18,332 19,972 53,627 60,237 Distribution and Other 6,869 5,744 19,604 18,821 Total $ 125,213 $ 145,319 $ 407,958 $ 437,637 Three months ended Nine months ended September 30, September 30, Geography 2024 2023 2024 2023 North America (primarily U.S.) $ 85,263 $ 102,502 $ 276,886 $ 300,834 Europe 33,859 35,456 111,664 113,679 Asia-Pacific 6,091 7,361 19,408 23,124 Total $ 125,213 $ 145,319 $ 407,958 $ 437,637
Schedule of opening and closing balances of the Company's receivables, contract asset, and contract liability	September 30, December 31, 2024 2023 Contract liabilities in accrued liabilities $ 1,853 $ 2,137 Contract liabilities in other long-term liabilities — 8 $ 1,853 $ 2,145

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
INVENTORIES (Tables)	Sep. 30, 2024
INVENTORIES
Schedule of inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value	September 30, December 31, 2024 2023 Parts and raw materials $ 85,670 $ 87,381 Work-in-process 11,897 11,456 Finished goods 20,038 18,849 $ 117,605 $ 117,686

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Tables)	Sep. 30, 2024
PROPERTY, PLANT AND EQUIPMENT
Schedule of classification of property, plant and equipment	September 30, December 31, Useful lives 2024 2023 Land $ 1,786 $ 973 Building and improvements 5 - 39 years 29,090 26,201 Machinery, equipment, tools and dies 3 - 15 years 107,222 99,711 Construction in progress 8,138 9,300 Furniture, fixtures and other 3 - 10 years 25,322 24,439 171,558 160,624 Less accumulated depreciation (103,162) (93,161) Property, plant, and equipment, net $ 68,396 $ 67,463

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
GOODWILL (Tables)	Sep. 30, 2024
GOODWILL
Schedule of change in the carrying amount of goodwill	September 30, 2024 Beginning balance $ 131,338 Goodwill acquired 2,752 Impact of measurement period adjustments of acquisitions (Note 2) 323 Effect of foreign currency translation (23) Ending balance $ 134,390

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
INTANGIBLE ASSETS (Tables)	Sep. 30, 2024
INTANGIBLE ASSETS
Schedule of intangible assets	Weighted Average September 30, 2024 December 31, 2023 Amortization Gross Accumulated Net Book Gross Accumulated Net Book Period Amount Amortization Value Amount Amortization Value Customer lists 14.1 years $ 118,164 $ (48,641) $ 69,523 $ 116,831 $ (42,421) $ 74,410 Trade name 13.7 years 16,186 (8,496) 7,690 15,572 (7,916) 7,656 Design and technologies 10.5 years 42,245 (14,865) 27,380 41,480 (12,173) 29,307 Total $ 176,595 $ (72,002) $ 104,593 $ 173,883 $ (62,510) $ 111,373
Schedule of estimated amortization expense for intangible assets	Year ending December 31, Total Estimated Amortization Expense Remainder of 2024 $ 3,305 2025 12,570 2026 12,472 2027 12,028 2028 11,280 Thereafter 52,938 Total estimated amortization expense $ 104,593

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
STOCK-BASED COMPENSATION (Tables)	Sep. 30, 2024
STOCK-BASED COMPENSATION
Summary of restricted stock activity	The following is a summary of restricted stock activity for the nine months ended September 30, 2024: Number of shares Outstanding at beginning of period 254,110 Awarded 186,758 Vested (119,335) Forfeited (42,162) Outstanding at end of period 279,371

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	9 Months Ended
ACCRUED LIABILITIES (Tables)	Sep. 30, 2024
ACCRUED LIABILITIES
Schedule of accrued liabilities	September 30, December 31, 2024 2023 Compensation and fringe benefits $ 13,448 $ 17,251 Accrued business acquisition consideration — 12,638 Warranty reserve 2,036 2,139 Income taxes payable 182 2,483 Operating lease liabilities – current 4,969 5,142 Finance lease obligations – current 439 412 Contract liabilities 1,853 2,137 Contingent consideration – current — 7,720 Restructuring related accruals 922 — Other accrued expenses 8,443 6,566 $ 32,292 $ 56,488
Schedule of changes in restructuring related accruals	For the nine months ended September 30, 2024, changes in restructuring related accruals are as follows (in thousands): Nine months ended September 30, 2024 Beginning balance $ — Expenses incurred 1,948 Payments (1,026) Ending balance $ 922

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	9 Months Ended
DEBT OBLIGATIONS (Tables)	Sep. 30, 2024
DEBT OBLIGATIONS
Schedule of debt obligations	September 30, December 31, 2024 2023 Long-term Debt Revolving Credit Facility, long-term (1) $ 175,962 $ 210,120 Note Payable 50,000 — Unamortized debt issuance costs (2,820) (325) Finance lease obligations – noncurrent 8,273 8,607 Long-term debt $ 231,415 $ 218,402 (1) The effective interest rate on long-term debt obligations is 4.85% at September 30, 2024.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2024
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of fair value of the Company's derivative financial instruments as well as classification on the condensed consolidated balance sheets	Asset Derivatives Fair value as of: Derivatives designated as Balance Sheet September 30, December 31, hedging instruments Location 2024 2023 Foreign currency contracts Prepaid expenses and other assets $ 27 $ 54 Interest rate swaps Prepaid expenses and other assets 567 2,254 Interest rate swaps Other long-term assets 1,348 2,177 $ 1,942 $ 4,485 Liability Derivatives Fair value as of: Derivatives designated as Balance Sheet September 30, December 31, hedging instruments Location 2024 2023 Foreign currency contracts Accrued liabilities $ 13 $ — $ 13 $ —
Schedule of effect of cash flow hedge accounting on other comprehensive income (loss) (OCI)	Amount of pre-tax (loss) gain recognized Amount of pre-tax gain recognized in OCI on derivatives in OCI on derivatives Derivatives in cash flow hedging relationships Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Interest rate swaps $ (745) $ 790 $ 566 $ 1,995 Amount of pre-tax gain reclassified Amount of pre-tax gain reclassified from accumulated OCI into income from accumulated OCI into income Location of gain reclassified Three months ended September 30, Nine months ended September 30, from accumulated OCI into income 2024 2023 2024 2023 Interest expense $ 1,064 $ 1,014 $ 3,134 $ 2,854
Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statements of income and comprehensive income	Total amounts of income and expense Total amounts of income and expense line items presented that reflect the line items presented that reflect the effects of cash flow hedges recorded effects of cash flow hedges recorded Three months ended September 30, Nine months ended September 30, Derivatives designated as hedging instruments Income Statement Location 2024 2023 2024 2023 Interest rate swaps Interest Expense $ 3,435 $ 3,164 $ 10,207 $ 9,309
Schedule of fair value provides the location that derivative assets and liabilities	Derivative assets: Net amounts Gross amounts of assets Gross amounts not offset in the consolidated As of Gross amounts offset in the presented in the balance sheets September 30, of recognized consolidated consolidated Financial Cash collateral 2024 assets balance sheets balance sheets instruments received Net amount Derivatives $ 1,942 $ — $ 1,942 $ — $ — $ 1,942 Net amounts Gross amounts of assets Gross amounts not offset in the consolidated As of Gross amounts offset in the presented in the balance sheets December 31, of recognized consolidated consolidated Financial Cash collateral 2023 assets balance sheets balance sheets instruments received Net amount Derivatives $ 4,485 $ — $ 4,485 $ — $ — $ 4,485

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
FAIR VALUE (Tables)	Sep. 30, 2024
FAIR VALUE
Schedule of financial assets that are accounted for at fair value on a recurring basis	September 30, 2024 Level 1 Level 2 Level 3 Assets (liabilities) Pension plan assets $ 6,399 $ — $ — Deferred compensation plan assets 4,747 — — Foreign currency hedge contracts, net — 14 — Interest rate swaps, net — 1,915 — Contingent consideration — — — December 31, 2023 Level 1 Level 2 Level 3 Assets (liabilities) Pension plan assets $ 5,859 $ — $ — Deferred compensation plan assets 4,305 — — Foreign currency hedge contracts, net — 54 — Interest rate swaps, net — 4,431 — Contingent consideration — — (7,990)

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2024
LEASES
Schedule of supplemental cash flow information related to the operating leases	September 30, 2024 2023 Cash paid for operating leases $ 4,791 $ 4,195 Cash paid for interest on finance lease obligations $ 305 $ 318 Assets acquired under operating leases $ 3,709 $ 6,578 Operating lease assets obtained in acquisitions $ 378 $ 224
Schedule of maturity of the operating lease liabilities	The following table presents the maturity of the Company’s operating and finance lease liabilities as of September 30, 2024: Operating Leases Finance Leases Remainder of 2024 $ 1,593 $ 204 2025 5,681 831 2026 4,958 848 2027 4,203 867 2028 3,259 886 Thereafter 8,001 7,884 Total undiscounted cash flows $ 27,695 $ 11,520 Less: present value discount (3,383) (2,809) Total lease liabilities $ 24,312 $ 8,711
Schedule of maturity of the financing lease liabilities	The following table presents the maturity of the Company’s operating and finance lease liabilities as of September 30, 2024: Operating Leases Finance Leases Remainder of 2024 $ 1,593 $ 204 2025 5,681 831 2026 4,958 848 2027 4,203 867 2028 3,259 886 Thereafter 8,001 7,884 Total undiscounted cash flows $ 27,695 $ 11,520 Less: present value discount (3,383) (2,809) Total lease liabilities $ 24,312 $ 8,711

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	Sep. 30, 2024
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Schedule of accumulated other comprehensive (Loss) income ("AOCI")	Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At June 30, 2024 $ (344) $ 3,656 $ (820) $ (18,842) $ (16,350) Unrealized gain (loss) on cash flow hedges — (745) 175 — (570) Amounts reclassified from AOCI — (1,064) 255 — (809) Foreign currency translation gain — — — 5,821 5,821 At September 30, 2024 $ (344) $ 1,847 $ (390) $ (13,021) $ (11,908) Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At June 30, 2023 $ (594) $ 6,675 $ (1,545) $ (15,997) $ (11,461) Unrealized gain (loss) on cash flow hedges — 790 (189) — 601 Amounts reclassified from AOCI — (1,014) 243 — (771) Foreign currency translation loss — — — (2,923) (2,923) At September 30, 2023 $ (594) $ 6,451 $ (1,491) $ (18,920) $ (14,554) Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At December 31, 2023 $ (344) $ 4,431 $ (1,006) $ (13,256) $ (10,175) Unrealized gain (loss) on cash flow hedges — 550 (136) — 414 Amounts reclassified from AOCI — (3,134) 752 — (2,382) Foreign currency translation gain — — — 235 235 At September 30, 2024 $ (344) $ 1,847 $ (390) $ (13,021) $ (11,908) Foreign Currency Defined Benefit Tax Effect of Translation Plan Liability Cash Flow Hedges Cash Flow Hedges Adjustment Total At December 31, 2022 $ (594) $ 7,310 $ (1,754) $ (16,925) $ (11,963) Unrealized gain (loss) on cash flow hedges — 1,995 (455) — 1,540 Amounts reclassified from AOCI — (2,854) 718 — (2,136) Foreign currency translation gain — — — (1,995) (1,995) At September 30, 2023 $ (594) $ 6,451 $ (1,491) $ (18,920) $ (14,554)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2024
EARNINGS PER SHARE
Schedule of basic and diluted weighted-average shares outstanding	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Basic weighted average shares outstanding 16,574 15,979 16,513 15,940 Dilutive effect of potential common shares 31 258 68 258 Diluted weighted average shares outstanding 16,605 16,237 16,581 16,198

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands			3 Months Ended				9 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Thousands	Jan. 11, 2024	Jan. 03, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Sep. 22, 2023
ACQUISITIONS
Increase (decrease) in goodwill							$ 323
Assets Acquired and Liabilities Assumed
Goodwill			$ 134,390				134,390		$ 131,338
Pro forma Condensed Combined Financial Information
Revenues						$ 156,797	409,252	$ 469,392
Income before income taxes						$ 9,261	$ 13,702	$ 27,286
Customer lists
Assets Acquired and Liabilities Assumed
Estimated Life			14 years 1 month 6 days				14 years 1 month 6 days
Trade name
Assets Acquired and Liabilities Assumed
Estimated Life			13 years 8 months 12 days				13 years 8 months 12 days
Spectrum Controls
ACQUISITIONS
Amount payable at each payment		$ 12,500
Percentage of remaining consideration in cash		50%
Percentage of remaining consideration in stock		50%
Sierramotion Inc
ACQUISITIONS
Business acquisition percentage of voting interests acquired										100%
Purchase price					$ 8,400
SNC
ACQUISITIONS
Business acquisition percentage of voting interests acquired	100%
Purchase price	$ 20,000
Decrease to inventories			$ (500)
Decrease to deferred income tax liabilities			(110)
Decrease to purchase price				$ (67)
Transaction costs related to acquisition							$ 313
Increase (decrease) in goodwill			390	$ (67)
Revenue of SNC			9,602				28,072
Net income			1,140				3,014
Assets Acquired and Liabilities Assumed
Cash and cash equivalents			881				881
Trade receivables			3,467				3,467
Inventories			8,600				8,600
Prepaid expenses and other assets			496				496
Property, plant, and equipment			4,258				4,258
Operating lease assets			378				378
Intangible assets			2,900				2,900
Goodwill			3,075				3,075
Other current liabilities			(3,188)				(3,188)
Deferred revenue			(55)				(55)
Operating lease liabilities			(378)				(378)
Net deferred income tax liabilities			(592)				(592)
Other noncurrent liabilities			(118)				(118)
Net purchase price			19,724				19,724
SNC \| Technology
Assets Acquired and Liabilities Assumed
Intangible assets			$ 800				$ 800
Estimated Life			10 years				10 years
SNC \| Customer lists
Assets Acquired and Liabilities Assumed
Intangible assets			$ 1,500				$ 1,500
Estimated Life			12 years				12 years
SNC \| Trade name
Assets Acquired and Liabilities Assumed
Intangible assets			$ 600				$ 600
Estimated Life			10 years				10 years

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Number of reportable segment \| segment			1
Revenues	$ 125,213	$ 145,319	$ 407,958	$ 437,637
Industrial
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	59,152	64,921	192,230	193,766
Vehicle
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	20,353	32,989	83,669	98,559
Medical
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	20,507	21,693	58,828	66,254
Aerospace & Defense
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	18,332	19,972	53,627	60,237
Distribution and Other
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	6,869	5,744	19,604	18,821
North America (primarily U.S.)
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	85,263	102,502	276,886	300,834
Europe
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	33,859	35,456	111,664	113,679
Asia-Pacific
Reconciliation of disaggregated revenue to segment revenue as well as revenue by geographical regions
Revenues	$ 6,091	$ 7,361	$ 19,408	$ 23,124

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
REVENUE RECOGNITION
Contract liabilities in accrued liabilities	$ 1,853		$ 2,137
Contract liabilities in other long-term liabilities			8
Contract liabilities	1,853		$ 2,145
Revenue recognized	$ 1,108	$ 4,053

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
INVENTORIES
Parts and raw materials	$ 85,670	$ 87,381
Work-in-process	11,897	11,456
Finished goods	20,038	18,849
Inventories	$ 117,605	$ 117,686

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, plant and equipment
Property, plant and equipment, gross	$ 171,558		$ 171,558		$ 160,624
Less accumulated depreciation	(103,162)		(103,162)		(93,161)
Property, plant, and equipment, net	68,396		68,396		67,463
Depreciation expense	3,312	$ 3,346	9,667	$ 9,730
Land
Property, plant and equipment
Property, plant and equipment, gross	1,786		1,786		973
Building and improvements
Property, plant and equipment
Property, plant and equipment, gross	$ 29,090		$ 29,090		26,201
Building and improvements \| Minimum
Property, plant and equipment
Useful lives	5 years		5 years
Building and improvements \| Maximum
Property, plant and equipment
Useful lives	39 years		39 years
Machinery, equipment, tools and dies
Property, plant and equipment
Property, plant and equipment, gross	$ 107,222		$ 107,222		99,711
Machinery, equipment, tools and dies \| Minimum
Property, plant and equipment
Useful lives	3 years		3 years
Machinery, equipment, tools and dies \| Maximum
Property, plant and equipment
Useful lives	15 years		15 years
Construction in progress
Property, plant and equipment
Property, plant and equipment, gross	$ 8,138		$ 8,138		9,300
Furniture, fixtures and other
Property, plant and equipment
Property, plant and equipment, gross	$ 25,322		$ 25,322		$ 24,439
Furniture, fixtures and other \| Minimum
Property, plant and equipment
Useful lives	3 years		3 years
Furniture, fixtures and other \| Maximum
Property, plant and equipment
Useful lives	10 years		10 years

GOODWILL - Change in the carryi

GOODWILL - Change in the carrying amount of goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Change in goodwill
Beginning balance	$ 131,338
Goodwill acquired	2,752
Impact of measurement period adjustments of acquisitions (Note 2)	323
Effect of foreign currency translation	(23)
Ending balance	$ 134,390

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Intangible assets subject to amortization
Gross Amount	$ 176,595		$ 176,595		$ 173,883
Accumulated Amortization	(72,002)		(72,002)		(62,510)
Total estimated amortization expense	104,593		104,593		111,373
Amortization expense for intangible assets	3,135	$ 3,075	9,381	$ 9,226
Estimated amortization expense
Remainder of 2024	3,305		3,305
2025	12,570		12,570
2026	12,472		12,472
2027	12,028		12,028
2028	11,280		11,280
Thereafter	52,938		52,938
Total estimated amortization expense	$ 104,593		$ 104,593		111,373
Customer lists
Intangible assets subject to amortization
Estimated Life	14 years 1 month 6 days		14 years 1 month 6 days
Gross Amount	$ 118,164		$ 118,164		116,831
Accumulated Amortization	(48,641)		(48,641)		(42,421)
Total estimated amortization expense	69,523		69,523		74,410
Estimated amortization expense
Total estimated amortization expense	$ 69,523		$ 69,523		74,410
Trade name
Intangible assets subject to amortization
Estimated Life	13 years 8 months 12 days		13 years 8 months 12 days
Gross Amount	$ 16,186		$ 16,186		15,572
Accumulated Amortization	(8,496)		(8,496)		(7,916)
Total estimated amortization expense	7,690		7,690		7,656
Estimated amortization expense
Total estimated amortization expense	$ 7,690		$ 7,690		7,656
Design and technologies
Intangible assets subject to amortization
Estimated Life	10 years 6 months		10 years 6 months
Gross Amount	$ 42,245		$ 42,245		41,480
Accumulated Amortization	(14,865)		(14,865)		(12,173)
Total estimated amortization expense	27,380		27,380		29,307
Estimated amortization expense
Total estimated amortization expense	$ 27,380		$ 27,380		$ 29,307

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Additional disclosures
Stock based compensation expense, net of forfeitures			$ 3,382	$ 4,165
Restricted Stock
STOCK-BASED COMPENSATION
Restricted stock grants			186,758
Weighted average grant date fair value (in dollars per share)			$ 29.78
Service period over which value of the shares is amortized to compensation expense			3 years
Number of Non-vested Restricted Shares
Outstanding at beginning of period (in shares)			254,110
Awarded (in shares)			186,758
Vested (in shares)			(119,335)
Forfeited (in shares)			(42,162)
Outstanding at end of period (in shares)	279,371		279,371
Additional disclosures
Stock based compensation expense, net of forfeitures	$ 1,098	$ 1,354	$ 3,382	$ 4,165
Restricted Stock \| Performance based vesting
STOCK-BASED COMPENSATION
Restricted stock grants			107,377
Number of Non-vested Restricted Shares
Awarded (in shares)			107,377

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ACCRUED LIABILITIES
Compensation and fringe benefits	$ 13,448	$ 17,251
Accrued business acquisition consideration		12,638
Warranty reserve	2,036	2,139
Income taxes payable	182	2,483
Operating lease liabilities - current	$ 4,969	$ 5,142
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities
Finance lease obligations - current	$ 439	$ 412
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Contract liabilities	$ 1,853	$ 2,137
Contingent consideration - current		7,720
Restructuring related accruals	922
Other accrued expenses	8,443	6,566
Accrued liabilities	$ 32,292	$ 56,488

ACCRUED LIABILITIES - Additiona

ACCRUED LIABILITIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024
Restructuring and business realignment costs	$ 479		$ 1,948
Restructuring charges, statement of income or comprehensive income extensible enumeration	Business development		Business development
Maximum
Employee severance and related expenses		$ 2,400
Minimum
Employee severance and related expenses		$ 1,900

ACCRUED LIABILITIES - Changes i

ACCRUED LIABILITIES - Changes in restructuring related accruals (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
ACCRUED LIABILITIES
Expenses incurred	$ 479	$ 1,948
Payments		(1,026)
Ending balance	$ 922	$ 922

DEBT OBLIGATIONS (Details)

DEBT OBLIGATIONS (Details) - USD ($) $ in Thousands			9 Months Ended
DEBT OBLIGATIONS (Details) - USD ($) $ in Thousands	Oct. 22, 2024	Mar. 01, 2024	Sep. 30, 2024	Mar. 21, 2024	Dec. 31, 2023
DEBT OBLIGATIONS
Unamortized debt issuance costs			$ (2,820)		$ (325)
Finance lease obligations - noncurrent			8,273		8,607
Long-term debt			231,415		218,402
Percentage of principal amount of debt to be repaid				100%
Revolving Credit Facility
DEBT OBLIGATIONS
Revolving Credit Facility, long-term			$ 175,962		$ 210,120
Effective rate (as a percent)			4.85%
Deferred financing fees			$ 568
Revolving Credit Facility \| Minimum
DEBT OBLIGATIONS
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)			0.15%
Revolving Credit Facility \| Maximum
DEBT OBLIGATIONS
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)			0.325%
Amended Revolving Facility
DEBT OBLIGATIONS
Maximum borrowing capacity		$ 280,000
Available borrowing capacity		50,000
Amended Revolving Facility \| Base Rate \| Minimum
DEBT OBLIGATIONS
Applicable margin (as a percent)			0.25%
Amended Revolving Facility \| Base Rate \| Maximum
DEBT OBLIGATIONS
Applicable margin (as a percent)			1.50%
Note Payable
DEBT OBLIGATIONS
Revolving Credit Facility, long-term			$ 50,000
2024 Note Payable Agreement
DEBT OBLIGATIONS
Unamortized debt issuance costs		(2,900)
Borrowings		50,000
Maximum borrowing capacity		$ 150,000
2024 Credit and Note Payable Agreements
DEBT OBLIGATIONS
Minimum interest coverage ratio			3%
Leverage ratio			4.25%
Increase in leverage ratio			0.50%
Unused amount of credit facility			$ 104,038
2024 Credit and Note Payable Agreements \| For quarter ending on or after december 31, 2024
DEBT OBLIGATIONS
Leverage ratio			3.75%
2024 Amended Credit Agreement \| SOFR \| Minimum
DEBT OBLIGATIONS
Applicable margin (as a percent)			1.25%
2024 Amended Credit Agreement \| SOFR \| Maximum
DEBT OBLIGATIONS
Applicable margin (as a percent)			2.50%
Shelf Notes \| Maximum
DEBT OBLIGATIONS
Debt instrument term		10 years 6 months
Principal amount of debt borrowed		$ 150,000
Series A Notes
DEBT OBLIGATIONS
Interest rate (as a percent)				5.96%
Principal amount of debt borrowed				$ 50,000
October 2024 Credit and Note Payable Amendments \| Subsequent Event
DEBT OBLIGATIONS
Commitment fees on unused portion of the Amended Revolving Facility ( as a percent)	0.325%
Line of Credit Facility	6.46%
October 2024 Credit and Note Payable Amendments \| Subsequent Event \| For quarters ending march 31, 2025 and june 30, 2025
DEBT OBLIGATIONS
Leverage ratio	4.50%
October 2024 Credit and Note Payable Amendments \| Subsequent Event \| For quarter ending september 30, 2025
DEBT OBLIGATIONS
Leverage ratio	4%
October 2024 Credit and Note Payable Amendments \| Subsequent Event \| For quarter ending december 31, 2025 and thereafter
DEBT OBLIGATIONS
Leverage ratio	3.75%
October 2024 Credit and Note Payable Amendments \| Subsequent Event \| SOFR
DEBT OBLIGATIONS
Applicable margin (as a percent)	2.50%

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) $ in Thousands	3 Months Ended		9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2020 USD ($) derivative
Derivative financial instruments
Term of contract			30 days
Other (income) expense
Derivative financial instruments
Gain (loss) on foreign currency contracts	$ 461	$ 174	$ 380	$ 270
Interest Rate Swaps
Derivative financial instruments
Notional amount	50,000		50,000			$ 40,000
Number of derivative instruments \| derivative							2
Notional amount of interest rate swap derivatives						$ 60,000	$ 20,000
Estimated amount to be reclassified as an decrease to interest expense			1,566
Foreign currency contracts
Derivative financial instruments
Notional amount	24,438		24,438		$ 22,193
Derivatives in cash flow hedging relationships \| Interest Rate Swaps
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Amount of pre-tax (loss) gain recognized in OCI on derivatives	(745)	790	566	1,995
Derivatives in cash flow hedging relationships \| Interest Rate Swaps \| Interest expense
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Amount of pre-tax gain (loss) reclassified from accumulated OCI into income	1,064	1,014	3,134	2,854
Derivatives designated as hedging instruments
Derivative financial instruments
Fair value of derivative assets	1,942		1,942		4,485
Fair value of derivative liability	13		13
Derivatives designated as hedging instruments \| Interest Rate Swaps \| Interest expense
Effect of derivative financial instruments on the condensed consolidated statement of income and comprehensive income
Total amounts of income and expense line items presented that reflect the effects of cash flow hedges recorded	3,435	$ 3,164	10,207	$ 9,309
Derivatives designated as hedging instruments \| Interest Rate Swaps \| Prepaid expenses and other assets
Derivative financial instruments
Fair value of derivative assets	567		567		2,254
Derivatives designated as hedging instruments \| Interest Rate Swaps \| Other long-term assets
Derivative financial instruments
Fair value of derivative assets	1,348		1,348		2,177
Derivatives designated as hedging instruments \| Foreign currency contracts \| Prepaid expenses and other assets
Derivative financial instruments
Fair value of derivative assets	27		27		$ 54
Derivatives designated as hedging instruments \| Foreign currency contracts \| Accrued liabilities.
Derivative financial instruments
Fair value of derivative liability	$ 13		$ 13

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Effects of offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative assets:
Gross amounts of recognized assets	$ 1,942	$ 4,485
Net amounts of assets presented in the consolidated balance sheets	1,942	4,485
Gross amounts not offset in the consolidated balance sheets: Net amount	$ 1,942	$ 4,485

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
FAIR VALUE (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Assets (liabilities)
Contingent consideration earned	$ 5,747
Contingent consideration settled in shares	2,874
Contingent consideration settled in cash	$ 2,873
Payment of contingent consideration		$ 2,450
Contingent consideration		0
Accrued liabilities.
Assets (liabilities)
Contingent consideration			$ 7,720
Other long-term liabilities
Assets (liabilities)
Contingent consideration			270
ALIO
Assets (liabilities)
Contingent consideration settled in company stock (as percentage)	50%
Contingent consideration settled in cash (as percentage)	50%
Sierramotion Inc
Assets (liabilities)
Contingent consideration fair value measurement, acquisition	$ 2,000	2,000
Recurring basis \| Level 1
Assets (liabilities)
Pension plan assets		6,399	5,859
Deferred compensation plan assets		4,747	4,305
Recurring basis \| Level 2
Assets (liabilities)
Foreign currency hedge contract assets, net		14	54
Interest rate swaps, net		$ 1,915	4,431
Recurring basis \| Level 3
Assets (liabilities)
Contingent consideration			$ (7,990)

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
INCOME TAXES (Details)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Effective income tax rate
Effective income tax rate (as a percent)	22.60%	23%	21.80%	23.40%
Net discrete tax costs (benefits) (as a percent)	1.20%		1.20%	(1.50%)

LEASES (Details)

LEASES (Details) - USD ($)		9 Months Ended
LEASES (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
LEASES
Options to terminate the leases		true
Operating lease option to terminate period		30 days
Supplemental cash flow information related to the operating leases
Cash paid for operating leases		$ 4,791,000	$ 4,195,000
Cash paid for interest on finance lease obligations		305,000	318,000
Assets acquired under operating leases		3,709,000	6,578,000
Operating lease assets obtained in acquisitions		378,000	$ 224,000
Lease assets and liabilities
Finance lease assets	$ 7,734,000	$ 7,734,000		$ 8,208,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net		Property, Plant and Equipment, Net
Finance lease obligations, current	$ 439,000	$ 439,000		$ 412,000
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current		Accrued Liabilities, Current
Finance lease obligations - noncurrent	$ 8,273,000	$ 8,273,000		$ 8,607,000
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term Debt, Excluding Current Maturities	Long-term Debt, Excluding Current Maturities		Long-term Debt, Excluding Current Maturities
Lease liability from modification of lease	$ 1,720
Maturity of the operating lease liabilities
Remainder of 2024	1,593,000	$ 1,593,000
2025	5,681,000	5,681,000
2026	4,958,000	4,958,000
2027	4,203,000	4,203,000
2028	3,259,000	3,259,000
Thereafter	8,001,000	8,001,000
Total undiscounted cash flows	27,695,000	27,695,000
Less: present value discount	(3,383,000)	(3,383,000)
Total lease liabilities	24,312,000	24,312,000
Maturity of the financing lease liabilities
Remainder of 2024	204,000	204,000
2025	831,000	831,000
2026	848,000	848,000
2027	867,000	867,000
2028	886,000	886,000
Thereafter	7,884,000	7,884,000
Total undiscounted cash flows	11,520,000	11,520,000
Less: present value discount	(2,809,000)	(2,809,000)
Total lease liabilities	$ 8,711,000	$ 8,711,000

LEASES - Related party (Details

LEASES - Related party (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LEASES - Related party (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Lease payments			$ 4,791	$ 4,195
Remainder of 2024	$ 1,593		1,593
Future minimum lease payments	24,312		24,312
Executive Officer
Lessee, Lease, Description [Line Items]
Lease payments	242	$ 242	726	$ 706
Remainder of 2024	202		202
Future minimum lease payments	$ 5,783		$ 5,783

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	$ 265,715	$ 236,794	$ 251,575	$ 215,465
Balance at the ending	272,867	242,141	272,867	242,141
Accumulated Other Comprehensive Income
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	(16,350)	(11,461)	(10,175)	(11,963)
Unrealized gain (loss) on cash flow hedges	(570)	601	414	1,540
Amounts reclassified from AOCI	(809)	(771)	(2,382)	(2,136)
Foreign currency translation gain (loss)	5,821	(2,923)	235	(1,995)
Balance at the ending	(11,908)	(14,554)	(11,908)	(14,554)
Defined Benefit Plan Liability
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	(344)	(594)	(344)	(594)
Balance at the ending	(344)	(594)	(344)	(594)
Cash Flow Hedges
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	3,656	6,675	4,431	7,310
Unrealized gain (loss) on cash flow hedges	(745)	790	550	1,995
Amounts reclassified from AOCI	(1,064)	(1,014)	(3,134)	(2,854)
Balance at the ending	1,847	6,451	1,847	6,451
Tax effect of Cash Flow Hedges
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	(820)	(1,545)	(1,006)	(1,754)
Unrealized gain (loss) on cash flow hedges, Tax effect	175	(189)	(136)	(455)
Amounts reclassified from AOCI, Tax effect	255	243	752	718
Balance at the ending	(390)	(1,491)	(390)	(1,491)
Foreign Currency Translation Adjustments
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Balance at the beginning	(18,842)	(15,997)	(13,256)	(16,925)
Foreign currency translation gain (loss)	5,821	(2,923)	235	(1,995)
Balance at the ending	$ (13,021)	$ (18,920)	$ (13,021)	$ (18,920)

DIVIDENDS PER SHARE (Details)

DIVIDENDS PER SHARE (Details) - $ / shares	3 Months Ended
DIVIDENDS PER SHARE (Details) - $ / shares	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
DIVIDENDS PER SHARE
Dividends declared (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.025

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
EARNINGS PER SHARE (Details) - shares shares in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic and diluted weighted-average shares outstanding
Basic weighted average shares outstanding	16,574	15,979	16,513	15,940
Dilutive effect of potential common shares	31	258	68	258
Diluted weighted average shares outstanding	16,605	16,237	16,581	16,198
Stock awards excluded from the calculation of diluted income per share (in shares)	128,000		74,000

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Sep. 30, 2024 USD ($) customer	Sep. 30, 2023 customer	Sep. 30, 2024 USD ($) segment customer	Sep. 30, 2023	Dec. 31, 2023 USD ($)
SEGMENT INFORMATION
Number of operating segments \| segment			1
Identifiable assets \| $	$ 596,435		$ 596,435		$ 597,542
Number of customers \| customer	0		0
Total revenues \| Customer one
SEGMENT INFORMATION
Number of customers \| customer		1
Total revenues \| Customer Concentration Risk \| Customer one
SEGMENT INFORMATION
Percentage of concentration risk		14%		11%
Trade receivables \| Customer Concentration Risk \| Customer one
SEGMENT INFORMATION
Percentage of concentration risk					15%
Europe, China, Mexico, and Asia-Pacific
SEGMENT INFORMATION
Identifiable assets \| $	$ 33,893		$ 33,893		$ 35,751
United States \| Total revenues \| Geographic Concentration Risk
SEGMENT INFORMATION
Percentage of concentration risk	56%	61%	55%	58%