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ACU:Y
Q1
2016
3320450
2426000
1474000
2286000
1797000
19565000
19118000
2135000
2733000
59634000
60876000
417000
422000
5418000
5662000
10254000
12250000
8688000
10589000
1029000
1039000
81421000
88290000
73688000
80144000
3709000
4295000
4024000
3851000
6664000
6279000
5273000
2854000
11937000
9133000
25913000
35696000
38238000
45145000
11877000
11960000
81421000
88290000
16089000
18334000
7401000
7745000
388000
316000
12963000
13809000
2.50
2.50
8000000
8000000
4751060
4784460
1362072
1460389
357000
320000
218000
181000
102000
129000
-1748000
-2833000
1619000
2849000
-489000
-1355000
-2612000
-2441000
-2920000
-3717000
449000
574000
10000
-7430000
-574000
10000
-63000
626000
535000
-2355000
-3281000
9783000
3404000
8823000
3429000
-952000
-488000
955000
945000
32000
-22000
971000
-108000
-36000
827000
100000
3336000
3300000
3572000
3704000
817000
-117000
252000
-553000
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td><td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Balance
at </b><br />
<b>December 31, 2015</b></font></td>
<td> </td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Payments</b></font></td><td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Balance
at <br />
March 31, 2016</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 34%; text-align: center; padding-left: 5.4pt; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Fremont, NC</font></td><td style="width: 2%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 5%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"></font></td><td style="width: 5%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: center; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"></font></td><td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
15000
15000
23000
23000
2000
2000
28000
31000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 5— Segment Information</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company reports financial information based on the organizational
structure used by management for making operating and investment decisions and for assessing performance. The Company’s reportable
business segments consist of: (1) United States; (2) Canada and (3) Europe. As described below, the activities of the Company’s
Asian operations are closely linked to those of the U.S. operations; accordingly, management reviews the financial results of both
on a consolidated basis, and the results of the Asian operations have been aggregated with the results of the United States operations
to form one reportable segment called the “United States segment” or “U.S. segment”. Each reportable segment
derives its revenue from the sales of cutting devices, measuring instruments and first aid products for school, office, home, hardware,
sporting and industrial markets.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Domestic sales orders are primarily filled from the Company’s
distribution center in North Carolina. The Company is responsible for the costs of shipping, insurance, customs clearance, duties,
storage and distribution related to such products. Orders filled from the Company’s inventory are generally for less than
container-sized lots.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Direct import sales are products sold by the Company’s Asian
subsidiary, directly to major U.S. retailers, who take ownership of the products in Asia. These sales are completed by delivering
product to the customers’ common carriers at shipping points in Asia. Direct import sales are made in larger quantities than
domestic sales, typically full containers. Direct import sales represented approximately 13% and 10% of the Company’s total
net sales for the three months ended March 31, 2016 and 2015, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The chief operating decision maker evaluates the performance of
each operating segment based on segment revenues and operating income. Segment amounts are presented after converting to U.S. dollars
and consolidating eliminations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 10pt">Financial data by segment:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 9pt"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 9pt">(in thousands)</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="7" style="font-weight: bold; text-align: center">Three months ended <br />
March 31</td></tr>
<tr style="vertical-align: bottom">
<td>Sales to external customers:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left; padding-left: 20pt">United States</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">22,526</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">20,134</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,389</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,244</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,373</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,459</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">25,288</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,837</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating income:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 20pt">United States</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">945</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">971</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(108</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(36</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-family: Arial, Helvetica, Sans-Serif"> </td><td style="font-family: Arial, Helvetica, Sans-Serif"> </td>
<td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: right"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif"> </td>
<td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: right"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 20pt">Interest expense, net</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Other (income) expense, net</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(38</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">76</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 2.5pt; padding-left: 20pt">Consolidated income before income taxes</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">809</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">621</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center">March 31</td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center">December 31</td></tr>
<tr style="vertical-align: bottom">
<td>Assets by segment</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left; padding-left: 20pt">United States</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">80,144</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">73,688</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,295</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,709</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,851</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,024</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">88,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">81,421</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 9pt">(in thousands)</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="7" style="font-weight: bold; text-align: center">Three months ended <br />
March 31</td></tr>
<tr style="vertical-align: bottom">
<td>Sales to external customers:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left; padding-left: 20pt">United States</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">22,526</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">20,134</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,389</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,244</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,373</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,459</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">25,288</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,837</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating income:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 20pt">United States</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">945</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">971</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(108</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(36</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-family: Arial, Helvetica, Sans-Serif"> </td><td style="font-family: Arial, Helvetica, Sans-Serif"> </td>
<td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: right"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif"> </td>
<td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: right"> </td><td style="font-family: Arial, Helvetica, Sans-Serif; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 20pt">Interest expense, net</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Other (income) expense, net</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(38</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">76</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 2.5pt; padding-left: 20pt">Consolidated income before income taxes</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">809</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">621</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
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--12-31
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<p style="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0">Note 1 — Basis of Presentation</p>
<p style="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">In the opinion of management,
the accompanying condensed consolidated financial statements include all adjustments necessary to present fairly the financial
position, results of operations and cash flows of Acme United Corporation (the “Company”). These adjustments are of
a normal, recurring nature. However, the financial statements do not include all of the disclosures normally required by accounting
principles generally accepted in the United States of America or those normally made in the Company's Annual Report on Form 10-K.
Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2015 for such disclosures. The condensed
consolidated balance sheet as of December 31, 2015 was derived from the audited consolidated balance sheet as of that date. The
results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The information
included in this Quarterly Report on Form 10-Q should be read in conjunction with Management’s Discussion and Analysis of
Financial Condition and Results of Operations and the financial statements and notes thereto, included in the Company’s 2015
Annual Report on Form 10-K.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">The Company has evaluated
events and transactions subsequent to March 31, 2016 and through the date these condensed consolidated financial statements were
included in this Form 10-Q and filed with the SEC.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p>
<p style="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0">Note 2 — Contingencies</p>
<p style="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Company is involved from time to time
in disputes and other litigation in the ordinary course of business and may encounter other contingencies, which may include environmental
and other matters. There are no pending material legal proceedings to which the registrant is a party, or, to the actual knowledge
of the Company, contemplated by any governmental authority.</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">In 2014, the Company sold its Fremont, NC distribution
facility for $850,000 in cash. Under the terms of the sale agreement, the Company is responsible to remediate any environmental
contamination on the property. In conjunction with the sale of the property, the Company recorded a liability of $300,000 in the
second quarter of 2014, related to the remediation of the property. The accrual includes the total estimated costs of remedial
activities and post-remediation operating and maintenance costs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Remediation work on the project began in the third
quarter of 2014 and is expected to be completed in 2016, with a monitoring period expected to be completed by the end of 2020.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The change in the accrual for environmental
remediation for the three months ended March 31, 2016 follows (in thousands):</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td><td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Balance
at </b><br />
<b>December 31, 2015</b></font></td>
<td> </td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Payments</b></font></td><td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Balance
at <br />
March 31, 2016</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 34%; text-align: center; padding-left: 5.4pt; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Fremont, NC</font></td><td style="width: 2%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 5%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"></font></td><td style="width: 5%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 2%; text-align: left; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="width: 1%; text-align: left; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: center; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"></font></td><td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Note
3 —</b> <b>Pension</b></font></p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Components of net periodic benefit
cost are as follows (in thousands):</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left">Components of net periodic benefit cost:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Interest cost</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Service cost</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Expected return on plan assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(23</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(23</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Amortization of prior service costs</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt">Amortization of actuarial loss</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s funding policy with
respect to its qualified plan is to contribute at least the minimum amount required by applicable laws and regulations. In 2016,
the Company is not required to contribute to the plan. As of March 31, 2016, the Company did not make any contributions to the
plan.</p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
<p style="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0">Note 4 —Debt and Shareholders’ Equity<br />
<br />
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under its revolving credit facility with HSBC Bank, N.A., the Company
was eligible to borrow up to $40 million at an interest rate of LIBOR plus 1.75%. All principal amounts outstanding under the agreement
are required to be repaid in a single amount on April 5, 2017, the date the facility expires; interest is payable monthly. Funds
borrowed under the facility may be used for working capital, general operating expenses, share repurchases, acquisitions and certain
other purposes. At March 31, 2016, the Company was in compliance with the covenants then in effect under the loan agreement.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2016 and December 31, 2015, the Company had outstanding
borrowings of $35,695,771 and $25,912,652, respectively, under the Company’s revolving loan agreement with HSBC.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On May 6, 2016, the Company amended its revolving
credit loan agreement with HSBC Bank, N.A. The amended facility provides for increased borrowings of up to an aggregate of $50
million at an interest rate of LIBOR plus 2.0%. All principal amounts outstanding under the agreement are required to be repaid
in a single amount on May 5, 2019, the date the agreement expires; interest is payable monthly. Funds borrowed under the agreement
may be used for working capital, acquisitions, general operating expenses, share repurchases and certain other purposes. Under
the revolving loan agreement, the Company is required to maintain specific amounts of tangible net worth, a specified debt service
coverage ratio, and a fixed charge coverage ratio.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">During the three months ended March 31, 2016,
the Company issued a total of 33,400 shares of common stock and received aggregate proceeds of $351,249 upon exercise of employee
stock options.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt"><b>Note 6 – Stock Based Compensation</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company recognizes share-based compensation at the fair
value of the equity instrument on the grant date. Compensation expense is recognized over the required service period. Share-based
compensation expenses were $102,198 and $128,752 for the quarters ended March 31, 2016 and 2015, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2016, there was a total of $601,276 of unrecognized
compensation cost, adjusted for estimated forfeitures, related to non-vested share –based payments granted to the Company’s
employees. The remaining unamortized expense is expected to be recognized over a weighted average period of approximately 2 years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 7 – Fair Value Measurements</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The carrying value of the Company’s bank debt approximates
fair value. Fair value was determined using a discounted cash flow analysis.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
6000
6000
ACME UNITED CORP
35508000
37551000
25288000
22526000
1389000
1373000
20134000
1244000
1459000
22837000
1000000
16103000
14402000
565000
436000
.17
.13
.16
.12
11951000
17224000
948000
948000
-2531000
-2279000
.10
.09
80000
80000
80000
80000
102000
129000
601000
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left">Components of net periodic benefit cost:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Interest cost</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Service cost</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Expected return on plan assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(23</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(23</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Amortization of prior service costs</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt">Amortization of actuarial loss</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center">March 31</td><td style="font-weight: bold"> </td>
<td colspan="3" style="font-weight: bold; text-align: center">December 31</td></tr>
<tr style="vertical-align: bottom">
<td>Assets by segment</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left; padding-left: 20pt">United States</td><td style="width: 2%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">80,144</td><td style="width: 1%; text-align: left"> </td><td style="width: 4%"> </td>
<td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">73,688</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 20pt">Canada</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,295</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">3,709</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1pt; padding-left: 20pt">Europe</td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,851</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,024</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 20pt">Consolidated</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">88,290</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">81,421</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
.13
.10
351000
321000
0.0175
0.02
33400
351000
P2Y
7000000
262000
176000
7344000
192000
181000
373000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 8 – Business Combination</b></p>
<p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On February 1, 2016, the Company acquired the
assets of Vogel Capital, Inc., d/b/a Diamond Machining Technology (DMT) for approximately $7.0 million in cash. <font style="color: #333333">DMT
products are leaders in sharpening tools for knives, scissors, chisels, and other cutting tools. DMT was founded in 1976 by aerospace
engineers. The DMT products use finely dispersed diamonds on the surfaces of sharpeners. The acquired assets include over 50 patents
and trademarks. DMT, based in Marlborough, MA employed 28 people, all of whom were retained by Acme United.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: #333333"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The purchase price was allocated to assets acquired
and liabilities assumed as follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif">Assets:</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 70%; text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
Receivable</font></td><td style="width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 4%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="width: 21%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,145</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font-size: 10pt">280</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Equipment</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">262</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid
expenses</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">176</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 11pt"><font style="font-size: 10pt">Intangible Assets</font></td><td style="padding-bottom: 1pt"><font style="font-size: 10pt"> </font></td>
<td style="text-align: left; border-bottom: Black 1pt solid"><font style="font-size: 10pt"> </font></td><td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 10pt">5,481</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Total
assets</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,344</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
</table>
<p style="margin: 0"><font style="font-size: 10pt"> </font></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 70%"><font style="font: 10pt Times New Roman, Times, Serif">Liabilities</font></td><td style="width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right; width: 21%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: left; width: 1%"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
Payable</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font-size: 10pt">192</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Accrued
Expense</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">181</font></td><td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Total
liabilities</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">373</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Management’s assessment of the valuation
of intangible assets is preliminary and finalization of the Company’s purchase price accounting assessment may result in
changes to the valuation of the identified intangible assets. The Company will finalize the purchase price allocation as soon as
practicable within the measurement period in accordance with Accounting Standards Codification Topic 805 “Business Combinations”.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Net sales for the three months ended March 31,
2016 attributable to DMT products were approximately $1.0 million. Net income for the three months ended March 31, 2016 attributable
to DMT products was approximately $.1 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Assuming DMT was acquired on January 1, 2016,
unaudited proforma combined net sales for the three months ended March 31, 2016 for the Company would have been approximately $25.9
million. Unaudited proforma combined net income for the three months ended March 31, 2016 for the Company would have been approximately
$.6 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Assuming DMT was acquired on January 1, 2015,
unaudited proforma combined net sales for the three months ended March 31, 2015, for the Company would have been approximately
$23.8 million. Unaudited proforma combined net income for the three months ended March 31, 2015 for the Company would have been
approximately $.5 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td><font style="font: 10pt Times New Roman, Times, Serif">Assets:</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 70%; text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
Receivable</font></td><td style="width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 4%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="width: 21%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,145</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font-size: 10pt">280</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Equipment</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">262</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid
expenses</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">176</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 11pt"><font style="font-size: 10pt">Intangible Assets</font></td><td style="padding-bottom: 1pt"><font style="font-size: 10pt"> </font></td>
<td style="text-align: left; border-bottom: Black 1pt solid"><font style="font-size: 10pt"> </font></td><td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 10pt">5,481</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Total
assets</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,344</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
</table>
<p style="margin: 0"><font style="font-size: 10pt"> </font></p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 70%"><font style="font: 10pt Times New Roman, Times, Serif">Liabilities</font></td><td style="width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; width: 4%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right; width: 21%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: left; width: 1%"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
Payable</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font-size: 10pt">192</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 11pt; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Accrued
Expense</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td><td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">181</font></td><td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 10pt"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-left: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Total
liabilities</font></td><td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">373</font></td><td style="text-align: left"><font style="font-size: 10pt"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
1406000
1406000
1145000
280000
850000
25913000
35696000
300000
846000
2000
6971000
130000
589000
767000
164000
127000
Interest rate of LIBOR plus 1.75%
Interest rate of LIBOR plus 2.0%
2017-04-05
2019-05-05
25900000
23800000
600000
500000
5481000