0000002098 2012-01-01 2012-12-31 0000002098 2013-08-07 0000002098 2012-12-31 0000002098 2013-06-30 0000002098 2013-01-01 2013-06-30 0000002098 2008-12-31 0000002098 2008-12-01 2008-12-31 0000002098 us-gaap:ReportableSegmentsMember 2012-01-01 2012-06-30 0000002098 ACU:ReportableSegmentsAMember 2012-01-01 2012-06-30 0000002098 ACU:ReportableSegmentsBMember 2012-01-01 2012-06-30 0000002098 us-gaap:ReportableSegmentsMember 2013-01-01 2013-06-30 0000002098 ACU:ReportableSegmentsAMember 2013-01-01 2013-06-30 0000002098 ACU:ReportableSegmentsBMember 2013-01-01 2013-06-30 0000002098 us-gaap:ReportableSegmentsMember 2012-06-30 0000002098 us-gaap:ReportableSegmentsMember 2013-06-30 0000002098 ACU:ReportableSegmentsAMember 2012-06-30 0000002098 ACU:ReportableSegmentsAMember 2013-06-30 0000002098 ACU:ReportableSegmentsBMember 2012-06-30 0000002098 ACU:ReportableSegmentsBMember 2013-06-30 0000002098 us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember 2012-06-07 0000002098 us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember 2012-01-01 2012-06-30 0000002098 2012-04-05 0000002098 2012-06-30 0000002098 2012-01-01 2012-06-30 0000002098 2012-04-01 2012-06-30 0000002098 2011-12-31 0000002098 2013-04-25 0000002098 2013-04-01 2013-04-30 0000002098 2013-04-01 2013-06-30 0000002098 us-gaap:ReportableSegmentsMember 2013-04-01 2013-06-30 0000002098 us-gaap:ReportableSegmentsMember 2012-04-01 2012-06-30 0000002098 ACU:ReportableSegmentsAMember 2013-04-01 2013-06-30 0000002098 ACU:ReportableSegmentsAMember 2012-04-01 2012-06-30 0000002098 ACU:ReportableSegmentsBMember 2013-04-01 2013-06-30 0000002098 ACU:ReportableSegmentsBMember 2012-04-01 2012-06-30 0000002098 us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember 2012-04-01 2012-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure ACU:Y Q2 2013 3179777 9750000 8458000 7141000 7853000 16442000 25420000 1925000 2115000 58409000 65443000 291000 289000 2294000 2281000 8283000 8683000 8515000 8900000 1702000 1669000 1124000 1115000 67828000 74736000 56115000 63521000 6107000 6221000 5606000 4994000 6480000 9092000 5250000 5401000 11730000 14493000 24320000 26012000 36962000 41526000 11218000 11353000 67828000 74736000 10868000 11253000 2353000 2353000 912000 1021000 12283000 12283000 2.50 2.50 8000000 8000000 4487524 4541849 1362072 1362072 455000 421000 135000 98000 272000 233000 9181000 10934000 -667000 1914000 2637000 5048000 69000 1644000 -5096000 -5877000 463000 233000 50000 52000 -513000 -1759000 3000 -46000 150000 473000 -2576000 -3557000 1692000 5436000 1794000 4650000 -1292000 -712000 3706000 2753000 571000 212000 3267000 463000 -24000 3536000 3078000 3192000 2701000 2587000 475000 521000 16000 -30000 3144000 3118000 3103000 3156000 3234000 3142000 3144000 3266000 2223000 2222000 1738000 2172000 -297000 -98000 -323000 -38000 <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" align="center" style="width: 80%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Balance at <br /> December 31, 2012</b></font></td> <td style="border-bottom: Black 1pt solid"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Payments</b></font></td> <td style="border-bottom: Black 1pt solid"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Balance at <br /> June 30, 2013</b></font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="text-align: center; vertical-align: bottom">&#160;</td> <td>&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;124</font></td> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"></td> <td style="text-align: center; vertical-align: bottom; border-bottom: Black 3pt double"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;(43)</font></td> <td style="border-bottom: Black 3pt double"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;81</font></td> </tr> </table> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> 2500000 2000000 <p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">In December 2008, the Company sold property it owned in Bridgeport, Connecticut to B&#38;E Juices, Inc. for $2.5 million, of which $2.0 million is secured by a mortgage on the property.&#160;&#160;The property consists of approximately four acres of land and 48,000 sq. feet of warehouse space.&#160;&#160;The property was the site of the Company&#8217;s original scissor factory which opened in 1887 and was closed in 1996.</p> 1800000 2 43000 43000 17000 17000 54000 75000 28000 28000 5000 5000 2000 2000 87000 85000 43000 43000 24319829 26011829 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>Note 5&#151; Segment Information</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="color: black">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&#146;s reportable business segments consist of: (1) United States; (2) Canada and (3) Europe. As described below, the activities of the Company&#146;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 &#147;United States segment&#148; or &#147;U.S. segment&#148;. </font>Each reportable segment derives its revenue from the sales of cutting devices, measuring instruments and safety products for school, office, home, hardware and industrial use.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Domestic sales orders are filled from the Company&#146;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&#146;s inventory are generally for less than container-sized lots.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Direct import sales are products sold by the Company&#146;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&#146; common carriers at the shipping points in Asia. Direct import sales are made in larger quantities than domestic sales, typically full containers. Direct import sales represented approximately 27% and 21% of the Company&#146;s total net sales for the three and six months ended June 30, 2013 compared to 28% and 22% for the comparable periods in 2012.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="color: black">The chief operating decision maker evaluates the performance of each operating segment based on segment revenues and operating income. </font>Segment amounts are presented after converting to U.S. dollars and consolidating eliminations.<font style="color: black"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">Financial data by segment:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">(in thousands)</font></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red">&#160;</p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended <br /> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six months ended <br /> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Sales to external customers:</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 10pt">United States</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">23,496</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">22,563</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">37,721</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">35,160</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,139</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,310</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,765</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,967</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,777</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,721</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,577</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">4,345</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Consolidated</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,412</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">27,594</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,063</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">44,472</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating income (loss):</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">United States</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,701</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,587</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">3,267</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,753</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">475</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">521</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">463</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">571</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">16</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">212</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Consolidated</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,192</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,078</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,706</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,536</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Interest expense, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">74</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">62</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">142</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other expense (income), net</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">86</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Consolidated income before taxes</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,093</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,793</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,536</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,333</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red">&#160;</p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>Assets by segment:</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>( in thousands )</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">63,521</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 3%; text-align: left">$</td><td style="width: 14%; text-align: right">56,115</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,221</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,107</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">4,994</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">5,606</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Consolidated</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">74,736</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">67,828</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 10pt; text-indent: -10pt"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">Financial data by segment:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">(in thousands)</font></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red">&#160;</p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended <br /> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six months ended <br /> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Sales to external customers:</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left; padding-left: 10pt">United States</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">23,496</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">22,563</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">37,721</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">35,160</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,139</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,310</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,765</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,967</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,777</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,721</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,577</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">4,345</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Consolidated</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,412</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">27,594</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,063</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">44,472</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating income (loss):</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">United States</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,701</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,587</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">3,267</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">2,753</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">475</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">521</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">463</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">571</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">16</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">212</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Consolidated</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,192</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,078</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,706</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,536</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Interest expense, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">74</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">62</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">142</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other expense (income), net</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">86</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Consolidated income before taxes</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,093</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,793</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,536</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,333</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>Note 8 &#150; Business Combination</b></p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">On June 7, 2012, the Company purchased certain assets of The C-Thru Ruler Company (&#147;C-Thru&#148;), a leading supplier of drafting, measuring, lettering and stencil products. The Company purchased inventory and intellectual property for approximately $1.47 million using funds borrowed under its revolving credit facility with HSBC. <font style="color: black">The Company recorded approximately $0.42 million for inventory, as well as approximately $1.05 million for intangible assets, consisting primarily of customer relationships.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Assuming C-Thru was acquired on January 1, 2012, unaudited proforma combined net sales for the three and six months ended June 30, 2012 for the Company would have been approximately $28.2 million and $45.6 million, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Unaudited net income for the three and six months ended June 30, 2012 attributable to C-Thru were not material to the Company&#146;s financial statements for those periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&#160;</p> 1470000 45600000 28200000 420000 1050000 0.0175 0.0175 30000000 40000000 -77000 -95000 -39000 -39000 0000002098 10-Q 2013-06-30 false --12-31 No No Yes Smaller Reporting Company 28819000 27553000 71000 21000 1402000 1876000 5636000 6096000 27082000 29128000 245000 -52000 16509000 15765000 9821000 10081000 12803000 12229000 6743000 6889000 249000 193000 91000 122000 106000 76000 29000 48000 -142000 -117000 -62000 -74000 -28000 -86000 -43000 -25000 -171000 -203000 -105000 -99000 3536000 3333000 2973000 3093000 1015000 1013000 912000 883000 90000 24000 41000 110000 322000 21000 219000 437000 370000 30866000 33210000 <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: left">Note 1 &#151; Basis of Presentation</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: left">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; 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 &#147;Company&#148;). 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, 2012 for such disclosures. The condensed consolidated balance sheet as of December 31, 2012 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 the Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations and the financial statements and notes thereto, included in the Company&#146;s 2012 Annual Report on Form 10-K.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">The Company has evaluated events and transactions subsequent to June 30, 2013 and through the date these condensed consolidated financial statements were included in this Form&#160;10-Q and filed with the SEC.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">Recent accounting pronouncements</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In February 2013, the Financial Accounting Standards Board (the &#147;FASB&#148;) issued a final rule related to the reporting of amounts reclassified out of accumulated other comprehensive income that requires entities to report, either on their income statement or in a footnote to their financial statements, the effects on earnings from items that are reclassified out of other comprehensive income. This standard update is effective for reporting periods beginning after December 15, 2012. The adoption of this accounting standard did not have an impact on our consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note 2 &#151; Contingencies</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. The Company presently has no matters other than the environmental remediation accrual described below.</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2008, the Company sold property it owned in Bridgeport, Connecticut to B&#38;E Juices, Inc. for $2.5 million, of which $2.0 million is secured by a mortgage on the property. The property consists of approximately four acres of land and 48,000 sq. feet of warehouse space. The property was the site of the Company&#146;s original scissor factory which opened in 1887 and was closed in 1996.</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the terms of the sale agreement, and as required by the Connecticut Transfer Act, the Company is required to remediate any environmental contamination on the property. During 2008, the Company hired an independent environmental consulting firm to conduct environmental studies in order to identify the extent of the environmental contamination on the property and to develop a remediation plan. As a result of those studies and the estimates prepared by the independent environmental consulting firm, the Company recorded an undiscounted liability of approximately $1.8 million related to the remediation of the property. This accrual included the costs of required investigation, remedial activities, and post-remediation operating and maintenance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The remediation work, which began in the third quarter of 2009, was completed during the third quarter of 2012. The Company, with the assistance of its independent environmental consulting firm, must continue to monitor contaminant levels on the property to ensure they comply with set governmental standards. The Company expects that the monitoring period could last a minimum of two years. At June 30, 2013, the Company had approximately $81,000 remaining in its accrual for post-remediation monitoring and project closing costs, of which approximately $22,000 was classified as a current liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The change in the accrual for environmental remediation for the six months ended June 30, 2013 follows <font style="color: black">(in thousands)</font>:</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" align="center" style="width: 80%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Balance at <br /> December 31, 2012</b></font></td> <td style="border-bottom: Black 1pt solid"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Payments</b></font></td> <td style="border-bottom: Black 1pt solid"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif"><b>Balance at <br /> June 30, 2013</b></font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="text-align: center; vertical-align: bottom">&#160;</td> <td>&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;124</font></td> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"></td> <td style="text-align: center; vertical-align: bottom; border-bottom: Black 3pt double"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;(43)</font></td> <td style="border-bottom: Black 3pt double"><font style="font: 9pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 3pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 9pt Times New Roman, Times, Serif">$&#160;&#160;81</font></td> </tr> </table> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Also, as part of the sale, the Company provided the buyer with a mortgage of $2.0 million at six percent interest per year. The mortgage is payable in monthly installments of principal and interest with the outstanding balance due in full, one year after remediation and monitoring on the property have been completed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><b>Note 3 &#151;</b> <b>Pension</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0pt; 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: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="5" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended June 30,</td> <td>&#160;</td> <td colspan="5" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six Months Ended June 30,</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Components of net periodic benefit cost:</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 42%; text-align: left">Interest cost</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">17</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">17</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">43</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">43</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Service cost</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected return on plan assets</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(28</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(28</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(54</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(75</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization of prior service costs</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of actuarial loss</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">77</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">43</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">43</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">87</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">85</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#146;s funding policy with respect to its qualified plan is to contribute at least the minimum amount required by applicable laws and regulations. In 2013, the Company is required to contribute approximately $235,000.</p> <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note 4 &#151;Debt and Shareholders&#146; Equity</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;<br /></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 25, 2013, the Company amended its revolving loan agreement with HSBC Bank N.A. dated April 5, 2012. The amendment increased the borrowing limit to $40 million from $30 million. The interest rate remains the same at 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 agreement expires; interest is payable monthly. Funds borrowed under the agreement may be used for working capital, general operating expenses, share repurchases, acquisitions and certain other purposes. Under the amended loan agreement, the Company is required to maintain specific amounts of tangible net worth, a debt/net worth ratio, and a fixed charge coverage ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">As of June 30, 2013 and December 31, 2012, the Company had outstanding borrowings of $26,011,829 and $24,319,829, respectively, under the Company&#146;s revolving loan agreement with HSBC. 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. At June 30, 2013 the Company was in compliance with these covenants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">During the first six months of 2013, the Company issued a total of 53,825 shares of common stock and received aggregate proceeds of $321,992 upon the exercise of employee stock options.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 10pt; text-indent: -10pt"><b>Note 6 &#150; Stock Based Compensation</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 10pt; text-indent: -10pt"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">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 $167,410 and $145,237 for the quarters ended June 30, 2013 and 2012, respectively. Share-based compensation expenses were $272,410 and $232,753 for the six months ended June 30, 2013 and 2012, respectively. During the three months ended June 30, 2013, the Company issued 20,500 options with a weighted average fair value of $2.75 per share. During the six months ended June 30, 2013 the Company issued 58,000 options with a weighted average fair value of $2.69.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">As of June 30, 2013, there was a total of $645,000 of unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested share &#150;based payments granted to the Company&#146;s employees. The remaining unamortized expense is expected to be recognized over a weighted average period of approximately 3 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Note 7 &#150; Fair Value Measurements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The carrying value of the Company&#146;s bank debt and note receivable approximates fair value. Fair value was determined using a discounted cash flow analysis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&#160;</p> 22000 .06 235000 17000 18000 12000 12000 2017-04-05 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. At June 30, 2013 the Company was in compliance with these covenants. Interest rate of LIBOR plus 1.75% 53825 321992 ACME UNITED CORP 30292000 29450000 46063000 35160000 4967000 4345000 37721000 4765000 3577000 44472000 27594000 28412000 23496000 22563000 3139000 3310000 1777000 1721000 29554000 28707000 17773000 18331000 2520000 2320000 2061000 2210000 .80 .74 .66 .70 .78 .74 .66 .68 4240000 4156000 1032000 1032000 -787000 -1084000 .15 .14 .07 .08 124000 81000 43000 272410 232753 145237 167410 58000 20500 2.69 2.75 645000 <p style="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="5" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended June 30,</td> <td>&#160;</td> <td colspan="5" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six Months Ended June 30,</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td> <td>&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td> <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Components of net periodic benefit cost:</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 42%; text-align: left">Interest cost</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">17</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">17</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">43</td><td style="width: 3%; text-align: left">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">43</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Service cost</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected return on plan assets</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(28</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(28</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(54</td><td style="text-align: left">)</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(75</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization of prior service costs</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of actuarial loss</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">77</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">43</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">43</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">87</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">85</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>Assets by segment:</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>( in thousands )</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%">&#160;</td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">63,521</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 3%; text-align: left">$</td><td style="width: 14%; text-align: right">56,115</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Canada</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,221</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,107</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Europe</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">4,994</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">5,606</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Consolidated</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">74,736</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">67,828</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 9pt Sans-Serif; margin: 0; color: Red"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 10pt; text-indent: -10pt"><b>&#160;</b></p> .21 .22 .28 .27 <p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">In February 2013, the Financial Accounting Standards Board (the &#147;FASB&#148;) issued a final rule related to the reporting of amounts reclassified out of accumulated other comprehensive income that requires entities to report, either on their income statement or in a footnote to their financial statements, the effects on earnings from items that are reclassified out of other comprehensive income. This standard update is effective for reporting periods beginning after December 15, 2012. The adoption of this accounting standard did not have an impact on our consolidated financial statements.</font></p> 1474000 P3Y