Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Feb. 18, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	usap
Entity Registrant Name	UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
Entity Central Index Key	0000931584
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 200,440,897
Entity Common Stock, Shares Outstanding		8,766,737

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 255,927	$ 202,643	$ 154,434
Cost of products sold	218,111	179,609	140,921
Gross margin	37,816	23,034	13,513
Selling, general and administrative expenses	21,746	18,797	17,482
Operating income (loss)	16,070	4,237	(3,969)
Interest expense and other financing costs	4,302	4,277	4,674
Other (income) expense	(829)	(49)	230
Income (loss) before income taxes	12,597	9	(8,873)
Provision (benefit) for income taxes	1,935	(7,601)	(3,526)
Net income (loss)	$ 10,662	$ 7,610	$ (5,347)
Basic earnings (loss) per share	$ 1.31	$ 1.05	$ (0.74)
Diluted earnings (loss) per share	$ 1.28	$ 1.03	$ (0.74)
Weighted average shares of common stock outstanding
Basic	8,132,632	7,225,697	7,193,300
Diluted	8,347,692	7,374,805	7,193,300

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 10,662	$ 7,610	$ (5,347)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on foreign currency contracts, net of tax	94	(114)	21
Comprehensive income (loss)	$ 10,756	$ 7,496	$ (5,326)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 3,696	$ 207
Accounts receivable (less allowance for doubtful accounts of $295 and $456, respectively)	32,618	24,990
Inventory, net	134,738	116,663
Other current assets	3,756	4,404
Total current assets	174,808	146,264
Property, plant and equipment, net	177,844	174,444
Other long-term assets	668	523
Total assets	353,320	321,231
Current liabilities:
Accounts payable	44,379	34,898
Accrued employment costs	7,939	4,075
Current portion of long-term debt	3,907	4,707
Other current liabilities	2,929	1,268
Total current liabilities	59,154	44,948
Long-term debt	42,839	75,006
Deferred income taxes	11,481	9,605
Other long-term liabilities	2,835	4
Total liabilities	116,309	129,563
Commitments and contingencies (Note 13)
Stockholders’ equity:
Senior preferred stock, par value $0.001 per share; 1,980,000 shares authorized; 0 shares issued and outstanding
Common stock, par value $0.001 per share; 20,000,000 shares authorized; 9,045,345 and 7,550,642 shares issued, respectively	9	8
Additional paid-in capital	93,100	58,514
Other comprehensive income (loss)	1	(93)
Retained earnings	146,191	135,529
Treasury stock, at cost; 292,855 common shares held, respectively	(2,290)	(2,290)
Total stockholders’ equity	237,011	191,668
Total liabilities and stockholders’ equity	$ 353,320	$ 321,231

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 295	$ 456
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,980,000	1,980,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	9,045,345	7,550,642
Treasury stock at cost, common shares held	292,855	292,855

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities:
Net income (loss)	$ 10,662	$ 7,610	$ (5,347)
Adjustments for non-cash items:
Depreciation and amortization	18,918	18,823	18,533
Deferred income tax	1,850	(7,593)	(3,525)
Write-off of deferred financing costs			768
Share-based compensation expense	1,442	1,564	1,405
Net gain on asset disposals	(9)	(70)	(340)
Changes in assets and liabilities:
Accounts receivable, net	(7,628)	(5,567)	(1,754)
Inventory, net	(20,373)	(27,378)	(9,155)
Accounts payable	5,293	14,178	7,096
Accrued employment costs	3,865	272	547
Income taxes	(246)	77	200
Other, net	2,833	(811)	(22)
Net cash provided by operating activities	16,607	1,105	8,406
Investing Activities:
Capital expenditures	(15,388)	(7,996)	(4,376)
Proceeds from sale of property, plant and equipment	10	70	1,571
Net cash used in investing activities	(15,378)	(7,926)	(2,805)
Financing Activities:
Borrowings under revolving credit facility	368,910	350,314	241,152
Payments on revolving credit facility	(388,728)	(338,836)	(259,243)
Proceeds under New Markets Tax Credit financing, net	2,835
Borrowings under term loan facility			30,000
Payments on term loan facility, capital leases, and notes	(12,364)	(5,078)	(17,448)
Payments of financing costs	(1,109)		(750)
Proceeds from public offering, net of cash expenses	32,246
Proceeds from the exercise of stock options	865	553	651
Net cash provided by (used in) financing activities	2,655	6,953	(5,638)
Net increase (decrease) in cash and restricted cash	3,884	132	(37)
Cash and restricted cash at beginning of period	207	75	112
Cash and restricted cash at end of period	4,091	207	75
Supplemental Disclosure of Cash Flow Information:
Interest paid	4,183	4,027	3,451
Income taxes paid (refunded), net	$ 102	$ (85)	$ (201)

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement Of Cash Flows [Abstract]
Cash	$ 3,696	$ 207	$ 75
Restricted cash included in other long-term assets	$ 395
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Total cash and restricted cash	$ 4,091	$ 207	$ 75	$ 112

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2015		$ 7	$ 54,829	$ 132,431		$ (2,290)
Beginning Balance (shares) at Dec. 31, 2015		7,111,338				292,855
Common stock issuance under Employee Stock Purchase Plan			151
Common stock issuance under Employee Stock Purchase Plan (shares)		17,268
Capital investment		$ 1	500
Capital investment, (shares)		73,207
Tax impact on RSUs vested and options exercised or forfeited			(488)
Share-based compensation			1,405
Share-based compensation (shares)		13,486
Net gain (loss) on derivative instruments					$ 21
Net income (loss)	$ (5,347)			(5,347)
Ending Balance at Dec. 31, 2016		$ 8	56,397	127,084	21	$ (2,290)
Ending Balance (shares) at Dec. 31, 2016		7,215,299				292,855
Common stock issuance under Employee Stock Purchase Plan			226
Common stock issuance under Employee Stock Purchase Plan (shares)		16,185
Exercise of stock options			327
Exercise of stock options (shares)		22,125
Share-based compensation			1,564
Share-based compensation (shares)		4,178
Net gain (loss) on derivative instruments					(114)
Retroactive adoption of ASU 2016-09				835
Net income (loss)	7,610			7,610
Ending Balance at Dec. 31, 2017	$ 191,668	$ 8	58,514	135,529	(93)	$ (2,290)
Ending Balance (shares) at Dec. 31, 2017		7,257,787				292,855
Common stock issuance under Employee Stock Purchase Plan			149
Common stock issuance under Employee Stock Purchase Plan (shares)		7,922
Exercise of stock options			716
Exercise of stock options (shares)	48,075	50,770
Public offering		$ 1	32,246
Public offering (shares)		1,408,163
Capital investment			33
Share-based compensation			1,442
Share-based compensation (shares)		27,848
Net gain (loss) on derivative instruments					94
Net income (loss)	$ 10,662			10,662
Ending Balance at Dec. 31, 2018	$ 237,011	$ 9	$ 93,100	$ 146,191	$ 1	$ (2,290)
Ending Balance (shares) at Dec. 31, 2018		8,752,490				292,855

Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

Note 1: Significant Accounting Policies

Basis of Consolidation. The consolidated financial statements include the accounts of Universal Stainless & Alloy Products, Inc. and its wholly-owned subsidiaries and variable interest entities (collectively, “we,” “us,” “our,” or the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. We have no interests in any unconsolidated entity.

Use of Estimates. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. The estimates and assumptions used in these consolidated financial statements are based on known information available as of the balance sheet date. Actual results could differ from those estimates.

Concentration of Credit Risk. We limit our credit risk on accounts receivable by performing ongoing credit evaluations and, when necessary, require letters of credit, guarantees or cash collateral. During 2018, we had one customer which accounted for approximately 18% of our total net sales and 6% of our total accounts receivable balance. During 2017, we had one customer that accounted for approximately 17% of our total net sales and 3% of our total accounts receivable balance. During 2016, we had one customer that accounted for approximately 20% of our total net sales and 4% of our total accounts receivable balance.

Accounts Receivable and Allowance for Doubtful Accounts. Accounts receivable are presented net of the allowance for doubtful accounts on our consolidated balance sheets. We market our products to a diverse customer base, primarily throughout the United States. International sales approximated 8% of 2018 total net sales, and 9% of 2017 and 2016 total net sales. The allowance for doubtful accounts includes specific reserves for the value of outstanding invoices issued to customers that are deemed potentially not collectible. Receivables are charged-off to the allowance when they are deemed to be uncollectible. There was no bad debt expense recorded for the year ended December 31, 2018. Bad debt expense, net of recoveries, was $0.2 million for the years ended December 31, 2017 and 2016.

Inventories. Inventories are stated at the lower of cost or net realizable value with cost principally determined by the weighted average cost method. Such costs include the acquisition cost for raw materials and supplies, direct labor and applied manufacturing overhead within the guidelines of normal plant capacity. We reserve for slow-moving inventory and inventory that is being evaluated under our quality control process. The reserves are based upon management’s expected method of disposition. The net change in inventory reserves for the year ended December 31, 2018 was an increase of $0.4 million, primarily due to the aging of slow moving material. The net change in inventory reserves for the years ended December 31, 2017 and 2016 was a $0.7 million and a $0.5 million increase, respectively.

Included in inventory are operating materials consisting of forge dies and production molds and rolls that are consumed over their useful lives. During the years ended December 31, 2018, 2017 and 2016, we amortized these operating materials in the amount of $2.3 million, $2.1 million and $1.6 million, respectively. This expense is recorded as a component of cost of products sold on the consolidated statements of operations and included as a part of our total depreciation and amortization on the consolidated statements of cash flows.

Property, Plant and Equipment. Property, plant and equipment is recorded at cost or its fair value at acquisition date. No depreciation is recognized on assets until they are placed in service. Assets which have been retired or disposed of are removed from cost and accumulated depreciation accounts, with the gain or loss generally reflected in cost of goods sold on the consolidated statements of operations.

Major equipment maintenance costs are capitalized as incurred and included in other current assets. These costs are amortized to cost of products sold within a twelve to thirty-six month period. Other maintenance costs are expensed as incurred. Costs of improvements and renewals are capitalized. Our maintenance expense for the years ended December 31, 2018, 2017 and 2016 was $18.3 million, $18.8 million and $15.7 million, respectively, which is included as a component of cost of products sold.

Depreciation is computed using the straight-line method based on the estimated useful lives of the related assets. The estimated useful lives of buildings and land improvements are between 10 and 39 years, and the estimated useful lives of machinery and equipment are between five and 20 years. Our total depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $16.4 million, $16.5 million and $16.7 million, respectively, of which $15.9 million, $16.2 million and $16.3 million, respectively, was included as a component of cost of products sold while the remainder was included in selling, general and administrative expense.

Long-Lived Asset Impairment. Long-lived assets, including property, plant and equipment and intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in relation to the operating performance and future undiscounted cash flows of the underlying assets. Adjustments are made if the sum of expected future cash flows is less than the book value. Based on management’s assessment of the carrying values of long-lived assets, no impairment reserve was necessary as of December 31, 2018, 2017 and 2016.

Deferred Financing Costs. Deferred financing costs are amortized up to the maturity date of the related financial instrument using the straight-line method, which approximates the effective interest method. Deferred financing cost amortization for the years ended December 31, 2018, 2017 and 2016 was $0.3 million, $0.3 million and $0.2 million, respectively, and is included as a component of interest expense and other financing costs on the consolidated statements of operations and included as part of total depreciation and amortization on the consolidated statements of cash flows. In the first quarter of 2016, the Company wrote off $0.8 million of deferred financing costs related to the prior credit facility due to entering into an updated credit agreement on January 21, 2016. These costs are included as a component of interest expense and other financing costs on the consolidated statements of operations and are broken out separately on the consolidated statement of cash flows. During 2018, the Company recorded $0.7 million of additional deferred financing costs related to the New Markets Tax Credits financing effective March 9, 2018, and $0.4 million of additional deferred financing costs related to the First Amended and Restated Revolving Credit, Term Loan and Security Agreement (“Credit Agreement”) effective August 3, 2018. At December 31, 2018 and 2017, we had $1.6 million and $0.7 million, respectively, of unamortized deferred financing costs included on our consolidated balance sheets as a reduction of debt.

Stockholders’ Equity. We have never paid a cash dividend on our common stock. Our Credit Agreement does not permit the payment of cash dividends.

Revenue Recognition. The Company’s revenues are primarily composed of sales of products. Revenue from the sale of products is recognized when the Company satisfies its performance obligations under a contract by transferring control of the promised product to its customer (“point-in-time”). Sales of certain specified product grades and shapes, and sales from conversion services, are recognized over-time. These sales qualify for over-time revenue recognition as the Company does not produce an asset with alternative use when completing its performance obligations with regard to these items, and maintains an enforceable right to payment in the event of contract termination. Over-time recognition is a change from prior accounting, which was point-in-time for the specified products and service completion for conversion services. Refer to the Recently Adopted Accounting Pronouncements section below.

Invoiced shipping and handling costs are also accounted for as revenue. Customer claims, which are not material, are accounted for primarily as a reduction to gross sales after the matter has been researched and an acceptable resolution has been reached.

The following table presents net sales by product line:

For the years ended December 31,	2018		2017		2016
(dollars in thousands)
Stainless steel	$	176,955	$	139,603	$	112,118
High-strength low alloy steel		21,617		15,693		13,180
Tool steel		40,308		32,279		19,179
High-temperature alloy steel		11,467		12,435		6,057
Conversion services and other sales		5,580		2,633		3,900
Total net sales	$	255,927	$	202,643	$	154,434

Income Taxes. Deferred income taxes are provided for net operating losses, unused tax credits earned and the tax effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. We use the liability method to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to be in effect when the taxes are paid. Valuation allowances are provided for a deferred tax asset when it is more likely than not that the asset will not be realized. Income tax penalties and interest are included in the provision for income tax expense.

We evaluate the tax positions taken or expected to be taken in our tax returns. A tax position should only be recognized in the financial statements if we determine that it is more-likely-than-not that the tax position will be sustained upon examination by the tax authorities, based upon the technical merits of the position. For those tax positions that should be recognized, the measurement of a tax position is determined as being the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. We believe there are no material uncertain tax positions at December 31, 2018, 2017 and 2016.

We recognize excess tax benefits as a result of the exercise of employee stock options within the consolidated statements of operations.

Share-based Compensation Plans. We recognize compensation expense based on the grant-date fair value of the awards. The fair value of the stock option grants is estimated on the date of grant using the Black-Scholes option-pricing model, and is recognized ratably over the service/vesting period of the award. The fair value of time-based restricted stock grants and restricted stock units is calculated using the market value of the stock on the date of issuance, and is recognized ratably over the service/vesting period of the award.

Net Income (Loss) per Common Share. Net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding plus all dilutive potential common shares outstanding during the period. Potentially dilutive impacts of shares issuable under our outstanding notes issued in connection with the acquisition of the North Jackson facility (collectively, the “Notes”) were excluded from the calculations in 2017 and 2016 as their inclusion would have been antidilutive. The conversion option expired in 2017 and is not applicable in 2018.

Treasury Stock. We account for treasury stock under the cost method and include such shares as a reduction of total stockholders’ equity.

Financial Instruments. Financial instruments held by us include cash, accounts receivable, and accounts payable and current and long-term debt. The carrying value of cash, accounts receivable and accounts payable is considered to be representative of fair value because of the short maturity of these instruments. Refer to Note 7 for fair value disclosures of our financial instruments.

Segment Reporting. Our operating facilities are integrated, and therefore our chief operating decision maker (“CODM”) views the Company as one business unit. Our CODM sets performance goals, assesses performance and makes decisions about resource allocations on a consolidated basis. As a result of these factors, as well as the nature of the financial information available which is reviewed by our CODM, we maintain one reportable segment.

Recently Adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, “Revenue Recognition.” ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue, cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the provisions of ASU 2014-09 on January 1, 2018, using the modified retrospective approach. Revenue from the Company’s product sales continue to generally be recognized when products are shipped (i.e. point in time). As such, the adoption of ASU 2014-09 had no material effect on revenue, gross margin or operating income; however, the Company has now presented the disclosures required by this new standard, refer to Note 2.

In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” or (“ASU 2016-18”). ASU 2016-18 is intended to clarify how entities present restricted cash in the statement of cash flows. The guidance requires entities to show the changes in the total of cash and cash equivalents and restricted cash in the statement of cash flows. As a result, entities will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows. When cash and cash equivalents and restricted cash are presented in more than one line item on the balance sheet, the guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and is to be applied retrospectively. We adopted ASU 2016-18 in the first quarter of 2018 and applied the guidance retrospectively to our prior period Consolidated Statements of Cash Flow.

Recently Issued Accounting Pronouncements

The Company considers the applicability and impact of all ASUs. Recently issued ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-2 “Leases (Topic 842)”. The ASU requires lessees to recognize most leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. The criteria for evaluating are similar to those applied in current leases accounting. This guidance is effective for annual and interim reporting periods beginning after December 15, 2018 with early adoption permitted. We will adopt this guidance in the first quarter of 2019 and do not expect the guidance to have a material impact on the financial statements.

In February 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income,” that will permit companies the option to reclassify stranded tax effects caused by the newly-enacted U.S. Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires the effect of a change in tax laws or rates be included in income from continuing operations is not affected. Adoption of the ASU will be optional, and companies will need to disclose if it elects not to adopt the ASU. The ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption will be permitted, including adoption in any interim period, for financial statements that have not yet been issued or made available for issuance. Entities will have the option to apply the amendments retrospectively or to record the reclassification as of the beginning of the period of adoption. We will adopt this guidance in the first quarter of 2019 and do not expect the guidance to have a material impact on the financial statements.

Revenue Recognition

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Revenue Recognition

Note 2: Revenue Recognition

The Company’s revenues are primarily comprised of sales of products. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product. A performance obligation is a promise in a contract to transfer a distinct product to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products. As such, revenue is recorded net of returns, allowances, customer discounts, and incentives. The Company has elected to exclude amounts collected from customers for all sales and other similar taxes from revenues. Invoiced shipping and handling costs are included in revenue.

The Company’s revenue is primarily from products transferred to customers at a point in time. The Company recognizes revenue at the point in time in which the customer obtains control of the product, which is generally when product title passes to the customer upon shipment.

The Company has evaluated the impact of the new revenue recognition standard on individual customer contracts. We have determined that there are certain customer agreements involving production of specified product grades and shapes that require revenue to be recognized over time, in advance of shipment, due to there being no alternative use for these grades and shapes without significant economic loss. Also, the Company maintains an enforceable right to payment including a normal profit margin from the customer in the event of contract termination. Over-time recognition is a change from prior accounting, which was point-in-time for these products.

The adoption of ASU 2014-09, using the modified retrospective approach, had no material effect on revenue, gross margin or operating income. Additionally, on January 1, 2018 the adoption had an immaterial impact on the Company’s Consolidated Balance Sheet. As of December 31, 2018 the adoption created contract assets related to services performed, not yet billed. These amounts are included in Accounts Receivable in the Consolidated Balance Sheet. Contract assets recorded as of December 31, 2018 related to the adoption of ASU 2014-09 totaled $1.0 million.

The Company has elected the following practical expedients allowed under ASU 2014-09:

•

Shipping activities are not considered to be separate performance obligations.

•

Performance obligations are satisfied within one year from a given reporting date, consequently we omit disclosure of the transaction price apportioned to remaining performance obligations on open orders.

The following summarizes our revenue by melt type:


	Year ended December 31,
Net sales:	2018		2017
Specialty alloys	$	209,203		172,715
Premium alloys (A)		41,144		27,295
Conversion services and other sales		5,580		2,633
Total net sales	$	255,927	$	202,643

(A) Premium alloys represent all vacuum induction melted (VIM) products.

Inventory

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventory

Note 3: Inventory

The major classes of inventory are as follows:

December 31,	2018			2017
(dollars in thousands)
Raw materials and starting stock	$	9,555		$	8,527
Semi-finished and finished steel products		115,627			99,820
Operating materials		12,515			10,850
Gross inventory		137,697			119,197
Inventory reserves		(2,959	)		(2,534	)
Total inventory, net	$	134,738		$	116,663

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

Note 4: Property, Plant and Equipment

Property, plant and equipment consists of the following:

December 31,	2018			2017
(dollars in thousands)
Land and land improvements	$	7,543		$	7,377
Buildings		50,607			50,058
Machinery and equipment		269,034			252,010
Construction in progress		7,184			5,239
Gross property, plant and equipment		334,368			314,684
Accumulated depreciation		(156,524	)		(140,240	)
Property, plant and equipment, net	$	177,844		$	174,444

Long-Term Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

Note 5: Long-Term Debt

Long-term debt consists of the following:

December 31,	2018			2017
(dollars in thousands)
Term loan	$	9,643		$	21,541
Revolving credit facility		18,204			38,024
Notes		19,000			19,000
Capital leases		1,502			1,897
		48,349			80,462
Less: current portion of long-term debt		(3,907	)		(4,707	)
Less: deferred financing costs		(1,603	)		(749	)

Long-term debt	$	42,839		$	75,006

Credit Facility

On August 3, 2018, we entered into the First Amended and Restated Revolving Credit, Term Loan and Security Agreement (“Credit Agreement”) with PNC Bank, National Association, as administrative agent and co-collateral agent, Bank of America, N.A., as co-collateral agent, and PNC Capital Markets LLC, as sole lead arranger and sole bookrunner. The Credit Agreement amended the prior Revolving Credit, Term Loan and Security Agreement (“Prior Agreement”), and provides for a senior secured revolving credit facility not to exceed $110.0 million (“Revolving Credit Facility”) and a senior secured term loan facility (“Term Loan”) in the amount of $10.0 million (together with the Revolving Credit Facility, the “Facilities”).

The Facilities, which expire on August 3, 2023 (the ‘Expiration Date”), are collateralized by a first lien in substantially all of the assets of the Company and its subsidiaries, except that no real property is collateral under the Facilities other than Company’s real property in North Jackson, Ohio.

Availability under the Credit Agreement is based on eligible accounts receivable and inventory. Further, the Company must maintain undrawn availability under the Credit Agreement of at least an amount equal to payments due on the notes issued in connection with the acquisition of the North Jackson facility, as defined in the Credit Agreement, plus 12.5% of the maximum borrowing amount of $110.0 million “(Minimum Liquidity”). At December 31, 2018, the amount of payments due on the notes relevant to the Minimum Liquidity calculation was $2.0 million. This requirement exists until the Notes are paid in full, refinanced or extended.

The Company is required to pay a commitment fee of 0.25% based on the daily unused portion of the Revolving Credit Facility.

With respect to the Term Loan, the Company will pay quarterly installments of the principal of approximately $0.4 million, plus accrued and unpaid interest, on the first day of each fiscal quarter beginning on September 30, 2018. To the extent not previously paid, the Term Loan will become due and payable in full on the Expiration Date.

Amounts outstanding under the Facilities, at the Company’s option, will bear interest at either a base rate or a LIBOR based rate, in either case calculated in accordance with the terms of the Credit Agreement. Interest under the Credit Agreement is payable monthly. We elected to use the LIBOR based rate for the majority of the debt outstanding under the Facilities during 2018. At December 31, 2018, the LIBOR based rate was 3.85% on our Revolving Credit Facility and 4.35% for the Term Loan.

The Credit Agreement contains customary affirmative and negative covenants. If a triggering event occurs as defined in the Credit Agreement, the Company must maintain a fixed charge coverage ratio of not less than 1.10 to 1.0 measured on a rolling four quarter basis and calculated in accordance with the terms of the Credit Agreement.

$6.7 million was drawn on the Revolving Credit Facility to fund cash restricted for use related to the New Markets Tax Credit (“NMTC”) Financing Transaction. As of December 31, 2018, NMTC related restricted cash receipts totaling $8.0 million were applied to the Company’s Revolving Credit Facility, as described in Note 6.

For the year December 31, 2018, we recorded $0.4 million of additional Credit Agreement related deferred financing costs to the Consolidated Balance Sheet, and amortized $0.3 million. At December 31, 2018, we had Credit Agreement related net deferred financing costs of approximately $0.9 million. For the year ended December 31, 2017, we amortized $0.3 million of Credit Agreement related deferred financing costs. At December 31, 2017, we had Credit Agreement related net deferred financing costs of approximately $0.7 million.

The aggregate annual principal payments due under our Credit Agreement at December 31, 2018, are as follows:

(dollars in thousands)
2019	$	1,429
2020		1,429
2021		1,429
2022		1,429
2023		22,131
	$	27,847

Notes

In connection with the acquisition of the North Jackson facility in 2011, we issued $20.0 million in notes to the sellers of the facility as partial consideration in the transaction.

On January 21, 2016, the Company entered into Amended and Restated Notes (the “Notes”) in the aggregate principal amount of $20.0 million, each in favor of Gorbert Inc. (the “Holder”). The Company’s obligations under the Notes are collateralized by a second lien on the same assets of the Company that collateralize the obligations of the Company under the Facilities.

The Notes were originally scheduled to mature on March 17, 2019. On March 30, 2018, the Company provided notification to the Holder of its intent to extend the maturity date to March 17, 2020 in accordance with the terms of the Notes.

Upon the Company’s extension of the maturity date of the Notes to March 17, 2020, principal payments in the aggregate of $2.0 million will be required to be made in March 2019. In conjunction with the intended extension of the maturity date of the Notes, $2.0 million has been classified within current portion of long-term debt.

Additionally, the Company has the option to further extend the maturity date of the Notes to March 17, 2021. Extending the maturity date of the Notes to March 17, 2021 would require a principal payment in the aggregate amount of $2.0 million to be made in March 2020.

The Notes bore interest at a rate of 5.0% per year through and including August 17, 2017 and bear a rate of 6.0% per year from and after August 18, 2017. Through and including June 18, 2017, all accrued and unpaid interest was payable semi-annually in arrears on each June 18 and December 18. After June 18, 2017, all accrued and unpaid interest is payable quarterly in arrears on each September 18, December 18, March 18 and June 18.

The Holder had the right to elect at any time on or prior to August 17, 2017 to convert all or any portion of the outstanding principal amount of the Notes. The Holder’s conversion rights expired and are no longer subject to exercise.

Capital Leases

The Company enters into capital lease arrangements from time to time, and the capital assets and obligations are recorded at the present value of minimum lease payments. The assets are included in Property, Plant and Equipment, net on the Consolidated Balance Sheets, and are depreciated over the respective lease terms which range from three to five years. The long-term component of the capital lease obligations is included in Long-term debt and the current component is included in Current portion of long-term debt.

During 2017, the Company entered into capital lease agreements for which the net present value of the minimum lease payments, at inception, was $0.5 million. These amounts have been excluded from the Consolidated Statements of Cash Flows as they are non-cash.

As of December 31, 2018, future minimum lease payments applicable to capital leases were as follows:

2019		605
2020		583
2021		471
2022		56
2023		15
Total minimum capital lease payments	$	1,730
Less amounts representing interest		(228	)
Present value of net minimum capital lease payments	$	1,502
Less current obligation		(478	)
Total long-term capital lease obligation	$	1,024

For the twelve months ended December 31, 2018 and 2017, the amortization of capital lease assets was $0.5 million and $0.4 million, respectively. Capital lease amortization is included in cost of products sold in the Consolidated Statement of Operations.

New Markets Tax Credit Financing Transaction

12 Months Ended

Dec. 31, 2018

New Markets Tax Credit Financing Transaction Disclosure [Abstract]

New Markets Tax Credit Financing Transaction

Note 6: New Markets Tax Credit Financing Transaction

On March 9, 2018, the Company entered into a New Markets Tax Credit financing program with PNC New Markets Investment Partners, LLC and Boston Community Capital, Inc. related to a new mid-size bar cell capital project at the Company’s Dunkirk, NY facility. PNC New Markets Investment Partners, LLC made a capital contribution and the Company made a loan to Dunkirk Investment Fund, LLC (“Investment Fund”) under the qualified NMTC program. Through this financing transaction, the Company secured low interest financing and the potential for other future benefits related to its mid-size bar cell capital project.

In connection with the financing transaction, the Company loaned $6.7 million aggregate principal amount (“Leverage Loan”) due in March 2048 to the Investment Fund. Additionally, PNC New Markets Investment Partners, LLC contributed $3.5 million to the Investment Fund, and as such, PNC New Markets Investment Partners, LLC is entitled to substantially all tax and other benefits derived from the NMTC. The Investment Fund then contributed the proceeds to a community development entity (“CDE”). The CDE then loaned the funds, on similar terms, as the Leverage Loan to Dunkirk Specialty Steel, LLC, a wholly-owned subsidiary of the Company. The CDE loan proceeds are restricted for use on the mid-size bar cell capital project.

The NMTC is subject to 100 percent recapture for a period of seven years as provided in the Internal Revenue Code. The Company is required to comply with various regulations and contractual provisions that apply to the NMTC arrangement. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, require the Company to indemnify PNC New Markets Investment Partners, LLC for any loss or recapture of NMTCs related to the financing until the Company’s obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with this arrangement. This transaction also includes a put/call provision whereby the Company may be obligated or entitled to repurchase PNC New Markets Investment Partners, LLC’s interest in the Investment Fund. The Company believes that PNC New Markets Investment Partners, LLC will exercise the put option in March 2025, at the end of the recapture period. The value attributed to the put/call is immaterial.

Direct costs incurred in structuring this financing transaction totaled $0.7 million. These costs were deferred and will be amortized over the term of the loans.

The Company has determined that the Investment Fund and CDE are each a VIE, and that it is the primary beneficiary of each VIE. This conclusion was reached based on the following:

•

The ongoing activities of the VIE, collecting and remitting interest and fees, and NMTC compliance were all considered in the initial design and are not expected to significantly affect economic performance throughout the life of the VIE;

•

Contractual arrangements obligate the Company to comply with NMTC rules and regulations and provide various other guarantees to the Investment Fund and CDE;

•

PNC New Markets Investment Partners, LLC lacks a material interest in the underlying economics of the project; and

•

The Company is obligated to absorb losses of the VIE.

Because the Company is the primary beneficiary of each VIE, these entities have been included in the Company’s Consolidated Financial Statements.

As of December 31, 2018, the Company recorded $0.4 million as restricted cash within Other long-term assets and $2.8 million within Other long-term liabilities related to this transaction. This cash is restricted for use in bar cell capital purchases only. The other long-term liability represents funds contributed to the Investment Fund by PNC New Markets Investment Partners, LLC.

Fair Value Measurements

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 7: Fair Value Measurements

The fair value hierarchy has three levels based on the inputs used to determine fair value, which are as follows:

Level 1 — Unadjusted quoted prices available in active markets for the identical assets or liabilities at the measurement date.

Level 2 — Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.

Level 3 — Unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.

The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.

The carrying amounts of our cash, accounts receivable and accounts payable approximated fair value at December 31, 2018 and 2017 due to their short-term nature (Level 1). The fair value of the Term Loan and Revolver at December 31, 2018 and 2017 approximated the carrying amount as the interest rate is based upon floating short-term interest rates (Level 2). The fair value of the Notes was approximately $18.8 million at December 31, 2018 and 2017 (Level 2).

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Note 9: Income Taxes

The income tax benefit attributable to continuing operations during the years ended December 31, 2018, 2017 and 2016 is as follows:

Components of the benefit from income taxes are as follows:

For the years ended December 31,	2018			2017			2016
(dollars in thousands)
Current (benefit) provision
Federal	$	(1	)	$	(28	)	$	8
State		86			21			5
Deferred provision (benefit)
Federal		2,100			114			(3,501	)
State		(250	)		568			(38	)
Benefit related to a change in enacted tax law		-			(8,276	)		-
Provision (benefit) for income taxes	$	1,935		$	(7,601	)	$	(3,526	)

The income tax provision (benefit) reconciled to taxes computed at the statutory federal rate is as follows:

For the years ended December 31,		2018				2017				2016
Tax provision (benefit) at statutory tax rate	$		2,645		$		3		$		(3,106	)
State income taxes, net of federal impact			74				3				(39	)
Research and development tax credit			(874	)			(425	)			(439	)
Valuation allowance, net of federal impact			(167	)			475				-
Impact of changes in enacted tax law			-				(8,276	)			-
Adjustments to deferred taxes			277				506				4
Other, net			(20	)			113				54
Provision (benefit) for income taxes	$		1,935		$		(7,601	)	$		(3,526	)

We continue to record a full valuation allowance against our New York deferred tax assets due to the zero percent state income tax rate for qualified manufacturers. We continue to record a partial valuation allowance against our Pennsylvania net operation loss deferred tax asset due to annual usage limitations. We have determined that federal and other state deferred tax assets are expected to be realized and have not recorded any additional valuation allowances.

We recognized the tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) in the year ended December 31, 2017 and recorded $8.3 million in tax benefits, which relates almost entirely to the remeasurement of deferred tax liabilities to the reduced 21% corporate income tax rate.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our net deferred taxes related to continuing operations are as follows:

December 31,	2018		2017
(dollars in thousands)
Noncurrent deferred income taxes:
Federal and state tax carryforwards	$	8,331	$	12,894
Inventory		787		549
Share-based compensation		1,909		2,186
Receivables		239		194
Accrued liabilities		836		349
Other		5		32
Total deferred tax assets	$	12,107	$	16,204
Deferred tax liabilities:
Property, plant and equipment	$	22,951	$	24,970
Other		637		839
Total deferred tax liabilities	$	23,588	$	25,809
Total noncurrent deferred income taxes	$	11,481	$	9,605

We file a U.S. federal income tax return and various state income tax returns. For federal income tax purposes, we had $18.7 million and $45.0 million of net operating loss carryforwards at December 31, 2018 and 2017, respectively. The net operating loss carryforwards begin to expire in 2031. In addition, we have credit carryforwards associated with our research and development activities of $4.0 million and $3.1 million as of December 31, 2018 and 2017, respectively. The research and development credit carryforwards begin to expire in 2030.

We have state net operating loss carryforwards of $8.8 million and $9.1 million, of which $5.2 million and $7.4 million, respectively, have a valuation allowance, and state credit carryforwards of $0.2 million at December 31, 2018 and 2017. The state net operating loss carryforwards begin to expire in 2031. The state credit carryforwards begin to expire in 2027.

We are routinely under audit by federal or state authorities. Our federal tax returns are subject to examination by the IRS for tax years after 2014. We are subject to examination by most state tax jurisdictions for tax years after 2014.

Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Note 10: Net Income (Loss) Per Common Share

The computation of basic and diluted net income (loss) per common share for the years ended December 31, 2018, 2017 and 2016 is as follows:

For the years ended December 31,	2018		2017		2016
(dollars in thousands, except per share amounts)
Numerator:
Net income (loss)	$	10,662	$	7,610	$	(5,347	)
Denominator:
Weighted average number of shares of common stock outstanding		8,132,632		7,225,697		7,193,300
Weighted average effect of dilutive stock options and other share-based compensation		215,060		149,108		-
Weighted average number of shares of common stock outstanding, as adjusted		8,347,692		7,374,805		7,193,300
Net income (loss) per common share:
Basic earnings (loss) per share	$	1.31	$	1.05	$	(0.74	)
Diluted earnings (loss) per share	$	1.28	$	1.03	$	(0.74	)

On May 25, 2018, the Company completed an underwritten, public offering involving the issuance and sale by the Company of 1,224,490 shares of common stock at a public offering price of $24.50 per share. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 183,673 shares of common stock. On June 1, 2018, the underwriters exercised the option in full, and an additional 183,673 shares of common stock were issued and sold on June 5, 2018. The public offering resulted in gross proceeds to the Company of approximately $34.5 million, or $32.2 million net of the underwriting discount and other offering fees and expenses. We used the net proceeds from the public offering to repay amounts outstanding under the Company’s revolving credit facility. The public offering’s impact on the weighted average number of shares for the year ended December 31, 2018 is 0.8 million shares.

There were 323,250, 590,350, and 844,000 options to purchase shares of common stock, at an average price of $32.36, $30.63, and $27.13 for the years ended December 31, 2018, 2017 and 2016, respectively, that were not included in the computation of diluted net income per common share because their respective exercise prices were greater than the average market price of our common stock.

An adjustment for interest expense on convertible notes was excluded from the income per share calculation for the years ended December 31, 2017 and 2016 as it would have been antidilutive.

The calculations of diluted earnings per share for the years ended December 31, 2017 and 2016 exclude 268,351 shares and 408,459 shares, respectively, for the assumed conversion of the Notes as inclusion would have been antidilutive.

The calculation of diluted earnings per share for the year ended December 31, 2016 excludes 6,575 shares for outstanding options and restricted stock units under our share incentive plans, as the impact would have been antidilutive.

Share-Based Compensation

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

Note 11: Share-Based Compensation

At December 31, 2018, we had the following share-based compensation plans:

Universal Stainless & Alloy Products, Inc. 2017 Equity Incentive Plan

We maintain the Universal Stainless & Alloy Products, Inc. 2017 Equity Incentive Plan (the “2017 Plan”), which was approved by our stockholders in May 2017. The 2017 Plan permits the issuance of stock options, restricted stock, restricted stock units, other share-based awards and performance awards to officers, employees, non-employee directors, and consultants and advisors to the Company. At inception, there were 568,357 shares authorized for issuance under the 2017 Plan.

When adopted, the 2017 Plan replaced the Omnibus Incentive Plan (“OIP”). Any awards outstanding under the OIP will remain subject to and be paid under the OIP. No new awards will be granted under the OIP. Any shares subject to outstanding awards under the OIP that cease to be subject to such awards after the adoption of the 2017 Plan will increase the shares authorized under the 2017 Plan. At December 31, 2018, there were 544,959 shares available for grant under the 2017 Plan.

Omnibus Incentive Plan

We maintain the OIP which was approved by our stockholders in May 2012. The OIP permitted the issuance of stock options, restricted stock, restricted stock units and other share-based awards to non-employee directors, other than those directors owning more than 5% of our outstanding common stock, consultants, officers and other key employees who were expected to contribute to our future growth and success. With the adoption of the 2017 Plan, no shares of common stock were available for grant at December 31, 2018 under OIP.

Stock Options

The price for options granted under the both the 2017 Plan and OIP is equal to the fair market value of the common stock at the date of grant. Options granted to non-employee directors vest over a three-year period, and options granted to employees vest over a four-year period. All options under both the 2017 Plan and OIP will expire no later than ten years after the grant date. Forfeited options may be reissued and are included in the amount available for grants.

A summary of stock option activity as of and for the year ended December 31, 2018 is presented below:

	Non-vested stock					Stock options
	options outstanding					outstanding
				Weighted-					Weighted-		Weighted-
				average					average		average
	Number			grant-date		Number			exercise		contractual
	of shares			fair value		of shares			price		term (years)
Outstanding at December 31, 2017		247,200		$	7.94		884,050		$	23.53
Stock options granted		131,350			10.33		131,350			21.34
Stock options exercised		-			-		(48,075	)		14.89
Stock options vested		(101,142	)		8.28		-			-
Stock options forfeited		(13,625	)		7.27		(105,300	)		32.69
Outstanding at December 31, 2018		263,783		$	9.04		862,025		$	22.56		6.0
Exercisable at December 31, 2018							598,242		$	24.38		4.6

Proceeds from stock option exercises totaled $0.7 million and $0.3 million for the years ended December 31, 2018 and 2017, respectively. There were no stock option exercises in 2016. Shares issued in connection with stock option exercises are issued from available authorized shares.

Based upon the closing stock price of $16.21 at December 31, 2018, the aggregate intrinsic value of outstanding and exercisable stock options was $1.0 million and $0.7 million, respectively. Intrinsic value of stock options is calculated as the amount by which the market price of our common stock exceeds the exercise price of the options. The aggregate intrinsic value of stock options exercised for the years ended December 31, 2018 and 2017 was $0.6 million and $0.1 million, respectively. The total fair value of stock option awards vested during the years ended December 31, 2018, 2017 and 2016 was $0.8 million, $1.2 million and $1.2 million, respectively.

Share-based compensation to employees and directors is recognized as compensation expense in the consolidated statements of operations based on the stock options fair value on the measurement date, which is the date of the grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods. The compensation expense recognized and its related tax effects are included in additional paid-in capital.

Share-based compensation expense related to stock options totaled $0.8 million, $1.2 million and $1.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. Share-based compensation expense is recognized ratably over the requisite service period for all stock option awards. Unrecognized share-based compensation expense related to non-vested stock option awards totaled $2.2 million at December 31, 2018, and the weighted-average period over which this unrecognized expense was expected to be recognized was 2.8 years.

The fair value of our stock options granted is estimated on the measurement date, which is the date of grant. We use the Black-Scholes option-pricing model. Our determination of fair value of stock option awards on the date of grant is affected by our stock price as well as assumptions regarding our expected stock price volatility over the term of the awards, and actual and projected stock option exercise behaviors. The weighted-average grant-date fair value of stock options granted during the years ended December 31, 2018, 2017 and 2016 was $10.12, $9.60 and $5.85, respectively.

The assumptions used to determine the fair value of stock options granted are detailed in the table below:

	2018			2017			2016
Risk-free interest rate	2.63% to 3.10%			1.92% to 2.29%			1.42% to 2.39%
Dividend yield		0.0	%		0.0	%		0.0	%
Expected market price volatility	45% to 52%			45% to 53%			51% to 53%
Weighted-average expected market price volatility		49.1	%		47.4	%		51.0	%
Expected term	4.7 to 6.8 years			5.6 to 7.5 years			5.6 to 7.5 years

The risk-free interest rate was developed using the U.S. Treasury yield curve for periods equal to the expected life of the stock options at the grant date. No dividend yield was assumed because we do not pay cash dividends on common stock and currently have no plans to pay a dividend. Expected volatility is based on the long-term historical volatility (estimated over a period equal to the expected term of the stock options) of our common stock. In estimating the fair value of stock options under the Black-Scholes option-pricing model, separate groups of employees that have similar historical exercise behavior are considered separately. The expected term of options granted represents the period of time that options granted are expected to be outstanding.

Restricted Stock and Restricted Stock Units

A summary of restricted stock activity for the years ended December 31, 2018 and 2017 is presented below:

					Weighted-
					average
	Number				grant-date
	of shares				fair value
Balance, December 31, 2016		95,000		$		14.75
Restricted stock granted in May		6,780				18.00
Restricted stock granted in November		7,500				20.29
Restricted stock forfeited		(27,000	)			14.96

Balance, December 31, 2017		82,280				15.45
Restricted stock granted in February		9,530				26.23
Restricted stock granted in May		5,136				24.20
Restricted stock vested in May		(2,260	)			18.00
Restricted stock granted in November		10,666				19.46
Restricted stock vested in December		(25,000	)			14.75

Balance, December 31, 2018		80,352		$		17.97

Share-based compensation expense related to restricted stock totaled $0.5 million, $0.4 million, and $0.1 million for the years ended December 31, 2018, 2017 and 2016, respectively.

During the years ended December 31, 2018 and 2017, we granted 25,332 and 14,280 time-based restricted stock units to certain employees and directors, respectively. The restricted stock units typically vest over four years for employees and three years for directors. The fair value of the non-vested time-based restricted common stock awards was calculated using the market value of the stock on the date of issuance.

As of December 31, 2018, total unrecognized compensation cost related to non-vested time-based restricted stock units was $1.0 million. That cost is expected to be recognized over a weighted-average period of 2.4 years.

Employee Stock Purchase Plan

Under the 1996 Employee Stock Purchase Plan, as amended (the “Plan”), the Company is authorized to issue up to 300,000 shares of common stock to its full-time employees, nearly all of whom are eligible to participate. Under the terms of the Plan, employees can choose as of January 1 and July 1 of each year to have up to 10% of their total earnings withheld to purchase up to 100 shares of our common stock each six-month period. The purchase price of the stock is 85% of the lower of its beginning-of-the-period or end-of-the-period market prices. At December 31, 2018, we have issued 219,991 shares of common stock since the Plan’s inception.

Retirement Plans

12 Months Ended

Dec. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Retirement Plans

Note 12: Retirement Plans

We have a defined contribution retirement plan (“401(k) plan”) that covers substantially all employees. Pursuant to the 401(k) plan, participants may elect to make pre-tax and after-tax contributions, subject to certain limitations imposed under the Internal Revenue Code of 1986, as amended. In addition, we make periodic contributions to the 401(k) plan based on service for the North Jackson, Titusville and Dunkirk hourly employees. Prior to the North Jackson initial collective bargaining agreement, periodic contributions to the 401(k) plan were based on age for hourly employees at the North Jackson facility. We make periodic contributions for the salaried employees at all locations based upon their service and their individual contribution to the 401(k) plan.

We also participate in the Steelworkers Pension Trust (the “Trust”), a multi-employer defined-benefit pension plan that is open to all hourly and salary employees associated with the Bridgeville facility. We make periodic contributions to the Trust based on hours worked at a fixed rate for each hourly employee, as determined by the collective bargaining agreement, and a fixed monthly contribution on behalf of each salary employee. The trustees of the Trust have provided us with the latest data available for the Trust year ended December 31, 2017. As of that date, the Trust is not fully funded. We could be held liable to the Trust for our own obligations, as well as those of other employers, due to our participation in the Trust. Contribution rates could increase if the Trust is required to adopt a funding improvement plan or a rehabilitation plan, if the performance of the Trust assets do not meet expectations, or as a result of future collectively-bargained wage and benefit agreements. If we choose to stop participating in the Trust, we may be required to pay the Trust an amount based on the underfunded status of the Trust, referred to as a withdrawal liability.

The Pension Protection Act (PPA) defines a zone status for each trust. Trusts in the green zone are at least 80% funded, trusts in the yellow zone are at least 65% funded, and trusts in the red zone are generally less than 65% funded. The Trust recertified its zone status after using the extended amortization provisions as allowed by law. The Trust has not implemented a funding improvement or rehabilitation plan, nor are such plans pending. Our contributions to the Trust have not exceeded more than 5% of the total contributions to the Trust.

Trusts employer

identification

Funding plan

Company contributions to the Trust

Pension

number /

PPA zone status

pending /

(dollars in thousands)

Surcharge

fund

plan number

2018

2017

implemented

2018

2017

2016

imposed

Trust

23-6648508 / 499

Green

880

773

681

The total expense of all retirement plans for the years ended December 31, 2018, 2017 and 2016 was $2.1 million, $1.8 million and $1.6 million, respectively. No other post-retirement benefit plans exist.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 13: Commitments and Contingencies

From time to time, various lawsuits and claims have been or may be asserted against us relating to the conduct of our business, including routine litigation relating to commercial and employment matters. The ultimate cost and outcome of any litigation or claim cannot be predicted with certainty. Management believes, based on information presently available, that the likelihood that the ultimate outcome of any such pending matter will have a material adverse effect on our financial condition, or liquidity or a material impact to our results of operations is remote, although the resolution of one or more of these matters may have a material adverse effect on our results of operations for the period in which the resolution occurs.

We, as well as other steel companies, are subject to demanding environmental standards imposed by federal, state and local environmental laws and regulations. We are not aware of any environmental condition that currently exists at any of our facilities that would cause a material adverse effect on our financial condition, results of operations or liquidity in a particular future quarter or year.

Our purchase obligations include the value of all open purchase orders with established quantities and purchase prices, as well as minimum purchase commitments, all made in the normal course of business. At December 31, 2018, our total purchase obligations were $22.8 million, of which $18.0 million will be due in 2019.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 14: Selected Quarterly Financial Data (unaudited)

	First quarter			Second quarter		Third quarter			Fourth quarter
(dollars in thousands, except per share amounts)
2018 Data:
Net sales	$	63,737		$	66,071	$	69,056		$	57,063
Gross margin	$	9,272		$	11,695	$	10,425		$	6,424
Operating income	$	4,065		$	5,846	$	5,294		$	865
Provision (benefit) for income taxes	$	777		$	1,139	$	460		$	(441	)
Net income	$	2,125		$	4,038	$	3,916		$	583
Net income per common share
Basic	$	0.29		$	0.52	$	0.45		$	0.07
Diluted	$	0.28		$	0.50	$	0.44		$	0.07
2017 Data:
Net sales	$	48,875		$	52,607	$	50,887		$	50,274
Gross margin	$	4,245		$	7,166	$	5,464		$	6,159
Operating (loss) income	$	(484	)	$	2,667	$	1,016		$	1,038
(Benefit) provision for income taxes	$	(262	)	$	369	$	176		$	(7,884	)
Net (loss) income	$	(1,219	)	$	1,228	$	(259	)	$	7,860
Net (loss) income per common share:
Basic	$	(0.17	)	$	0.17	$	(0.04	)	$	1.09
Diluted	$	(0.17	)	$	0.17	$	(0.04	)	$	1.06

Net income (loss) per common share amounts for each quarter is required to be computed independently. As a result, their sum may not equal the total year earnings per share amounts.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2018

Valuation And Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Schedule II – Valuation and Qualifying Accounts

	Balance at		Charged to		Deductions/
	beginning		costs and		net charge-			Balance at
For the Years Ended December 31, 2018, 2017 and 2016	of year		expenses		offs (A)			end of year
(dollars in thousands)
Allowance for doubtful accounts:
Year ended December 31, 2018	$	456		-		(161	)	$	295
Year ended December 31, 2017		309		159		(12	)		456
Year ended December 31, 2016		249		163		(103	)		309
Valuation allowance for deferred income taxes:
Year ended December 31, 2018	$	2,465		-		(167	)	$	2,298
Year ended December 31, 2017		1,553		912		-			2,465
Year ended December 31, 2016		1,582		-		(29	)		1,553

(A)	Credits to the allowance for doubtful accounts represent the write-off of bad debts net of recoveries. Credits to the valuation allowance for deferred income taxes represent adjustments to existing valuation allowances.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of Consolidation

Use of Estimates

Concentration of Credit Risk

Accounts Receivable and Allowance for Doubtful Accounts

Inventories

Property, Plant and Equipment

Long-Lived Asset Impairment

Deferred Financing Costs

Stockholders' Equity

Stockholders’ Equity. We have never paid a cash dividend on our common stock. Our Credit Agreement does not permit the payment of cash dividends.

Revenue Recognition

The following table presents net sales by product line:

For the years ended December 31,	2018		2017		2016
(dollars in thousands)
Stainless steel	$	176,955	$	139,603	$	112,118
High-strength low alloy steel		21,617		15,693		13,180
Tool steel		40,308		32,279		19,179
High-temperature alloy steel		11,467		12,435		6,057
Conversion services and other sales		5,580		2,633		3,900
Total net sales	$	255,927	$	202,643	$	154,434

Income Taxes

We recognize excess tax benefits as a result of the exercise of employee stock options within the consolidated statements of operations.

Share-based Compensation Plans

Net Income (Loss) per Common Share

Treasury Stock

Treasury Stock. We account for treasury stock under the cost method and include such shares as a reduction of total stockholders’ equity.

Financial Instruments

Segment Reporting

New Accounting Pronouncement

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Net Sales by Product Line

The following table presents net sales by product line:

For the years ended December 31,	2018		2017		2016
(dollars in thousands)
Stainless steel	$	176,955	$	139,603	$	112,118
High-strength low alloy steel		21,617		15,693		13,180
Tool steel		40,308		32,279		19,179
High-temperature alloy steel		11,467		12,435		6,057
Conversion services and other sales		5,580		2,633		3,900
Total net sales	$	255,927	$	202,643	$	154,434

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Summary of Revenue

The following summarizes our revenue by melt type:


	Year ended December 31,
Net sales:	2018		2017
Specialty alloys	$	209,203		172,715
Premium alloys (A)		41,144		27,295
Conversion services and other sales		5,580		2,633
Total net sales	$	255,927	$	202,643

(A) Premium alloys represent all vacuum induction melted (VIM) products.

Inventory (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Major Classes of Inventory

December 31,	2018			2017
(dollars in thousands)
Raw materials and starting stock	$	9,555		$	8,527
Semi-finished and finished steel products		115,627			99,820
Operating materials		12,515			10,850
Gross inventory		137,697			119,197
Inventory reserves		(2,959	)		(2,534	)
Total inventory, net	$	134,738		$	116,663

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consists of the following:

December 31,	2018			2017
(dollars in thousands)
Land and land improvements	$	7,543		$	7,377
Buildings		50,607			50,058
Machinery and equipment		269,034			252,010
Construction in progress		7,184			5,239
Gross property, plant and equipment		334,368			314,684
Accumulated depreciation		(156,524	)		(140,240	)
Property, plant and equipment, net	$	177,844		$	174,444

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:

December 31,	2018			2017
(dollars in thousands)
Term loan	$	9,643		$	21,541
Revolving credit facility		18,204			38,024
Notes		19,000			19,000
Capital leases		1,502			1,897
		48,349			80,462
Less: current portion of long-term debt		(3,907	)		(4,707	)
Less: deferred financing costs		(1,603	)		(749	)

Long-term debt	$	42,839		$	75,006

Schedule of Maturities of Long-term Debt

The aggregate annual principal payments due under our Credit Agreement at December 31, 2018, are as follows:

(dollars in thousands)
2019	$	1,429
2020		1,429
2021		1,429
2022		1,429
2023		22,131
	$	27,847

Future Minimum Lease Payments for Capital Leases

As of December 31, 2018, future minimum lease payments applicable to capital leases were as follows:

2019		605
2020		583
2021		471
2022		56
2023		15
Total minimum capital lease payments	$	1,730
Less amounts representing interest		(228	)
Present value of net minimum capital lease payments	$	1,502
Less current obligation		(478	)
Total long-term capital lease obligation	$	1,024

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Benefit from Income Taxes

For the years ended December 31,	2018			2017			2016
(dollars in thousands)
Current (benefit) provision
Federal	$	(1	)	$	(28	)	$	8
State		86			21			5
Deferred provision (benefit)
Federal		2,100			114			(3,501	)
State		(250	)		568			(38	)
Benefit related to a change in enacted tax law		-			(8,276	)		-
Provision (benefit) for income taxes	$	1,935		$	(7,601	)	$	(3,526	)

Schedule of Effective Income Tax Rate Reconciliation

For the years ended December 31,		2018				2017				2016
Tax provision (benefit) at statutory tax rate	$		2,645		$		3		$		(3,106	)
State income taxes, net of federal impact			74				3				(39	)
Research and development tax credit			(874	)			(425	)			(439	)
Valuation allowance, net of federal impact			(167	)			475				-
Impact of changes in enacted tax law			-				(8,276	)			-
Adjustments to deferred taxes			277				506				4
Other, net			(20	)			113				54
Provision (benefit) for income taxes	$		1,935		$		(7,601	)	$		(3,526	)

Schedule of Deferred Tax Assets and Liabilities

December 31,	2018		2017
(dollars in thousands)
Noncurrent deferred income taxes:
Federal and state tax carryforwards	$	8,331	$	12,894
Inventory		787		549
Share-based compensation		1,909		2,186
Receivables		239		194
Accrued liabilities		836		349
Other		5		32
Total deferred tax assets	$	12,107	$	16,204
Deferred tax liabilities:
Property, plant and equipment	$	22,951	$	24,970
Other		637		839
Total deferred tax liabilities	$	23,588	$	25,809
Total noncurrent deferred income taxes	$	11,481	$	9,605

Net Income (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Common Share

The computation of basic and diluted net income (loss) per common share for the years ended December 31, 2018, 2017 and 2016 is as follows:

For the years ended December 31,	2018		2017		2016
(dollars in thousands, except per share amounts)
Numerator:
Net income (loss)	$	10,662	$	7,610	$	(5,347	)
Denominator:
Weighted average number of shares of common stock outstanding		8,132,632		7,225,697		7,193,300
Weighted average effect of dilutive stock options and other share-based compensation		215,060		149,108		-
Weighted average number of shares of common stock outstanding, as adjusted		8,347,692		7,374,805		7,193,300
Net income (loss) per common share:
Basic earnings (loss) per share	$	1.31	$	1.05	$	(0.74	)
Diluted earnings (loss) per share	$	1.28	$	1.03	$	(0.74	)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity as of and for the year ended December 31, 2018 is presented below:

	Non-vested stock					Stock options
	options outstanding					outstanding
				Weighted-					Weighted-		Weighted-
				average					average		average
	Number			grant-date		Number			exercise		contractual
	of shares			fair value		of shares			price		term (years)
Outstanding at December 31, 2017		247,200		$	7.94		884,050		$	23.53
Stock options granted		131,350			10.33		131,350			21.34
Stock options exercised		-			-		(48,075	)		14.89
Stock options vested		(101,142	)		8.28		-			-
Stock options forfeited		(13,625	)		7.27		(105,300	)		32.69
Outstanding at December 31, 2018		263,783		$	9.04		862,025		$	22.56		6.0
Exercisable at December 31, 2018							598,242		$	24.38		4.6

Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted

The assumptions used to determine the fair value of stock options granted are detailed in the table below:

	2018			2017			2016
Risk-free interest rate	2.63% to 3.10%			1.92% to 2.29%			1.42% to 2.39%
Dividend yield		0.0	%		0.0	%		0.0	%
Expected market price volatility	45% to 52%			45% to 53%			51% to 53%
Weighted-average expected market price volatility		49.1	%		47.4	%		51.0	%
Expected term	4.7 to 6.8 years			5.6 to 7.5 years			5.6 to 7.5 years

Summary of Restricted Stock Activity

A summary of restricted stock activity for the years ended December 31, 2018 and 2017 is presented below:

					Weighted-
					average
	Number				grant-date
	of shares				fair value
Balance, December 31, 2016		95,000		$		14.75
Restricted stock granted in May		6,780				18.00
Restricted stock granted in November		7,500				20.29
Restricted stock forfeited		(27,000	)			14.96

Balance, December 31, 2017		82,280				15.45
Restricted stock granted in February		9,530				26.23
Restricted stock granted in May		5,136				24.20
Restricted stock vested in May		(2,260	)			18.00
Restricted stock granted in November		10,666				19.46
Restricted stock vested in December		(25,000	)			14.75

Balance, December 31, 2018		80,352		$		17.97

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Schedule of Multiemployer Plans

Trusts employer

identification

Funding plan

Company contributions to the Trust

Pension

number /

PPA zone status

pending /

(dollars in thousands)

Surcharge

fund

plan number

2018

2017

implemented

2018

2017

2016

imposed

Trust

23-6648508 / 499

Green

880

773

681

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

	First quarter			Second quarter		Third quarter			Fourth quarter
(dollars in thousands, except per share amounts)
2018 Data:
Net sales	$	63,737		$	66,071	$	69,056		$	57,063
Gross margin	$	9,272		$	11,695	$	10,425		$	6,424
Operating income	$	4,065		$	5,846	$	5,294		$	865
Provision (benefit) for income taxes	$	777		$	1,139	$	460		$	(441	)
Net income	$	2,125		$	4,038	$	3,916		$	583
Net income per common share
Basic	$	0.29		$	0.52	$	0.45		$	0.07
Diluted	$	0.28		$	0.50	$	0.44		$	0.07
2017 Data:
Net sales	$	48,875		$	52,607	$	50,887		$	50,274
Gross margin	$	4,245		$	7,166	$	5,464		$	6,159
Operating (loss) income	$	(484	)	$	2,667	$	1,016		$	1,038
(Benefit) provision for income taxes	$	(262	)	$	369	$	176		$	(7,884	)
Net (loss) income	$	(1,219	)	$	1,228	$	(259	)	$	7,860
Net (loss) income per common share:
Basic	$	(0.17	)	$	0.17	$	(0.04	)	$	1.09
Diluted	$	(0.17	)	$	0.17	$	(0.04	)	$	1.06

Significant Accounting Policies (Concentration of Credit Risk, Accounts Receivable, and Allowance for Doubtful Accounts) (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018 USD ($) customer	Dec. 31, 2017 USD ($) customer	Dec. 31, 2016 USD ($) customer
Concentration Risk [Line Items]
Bad debt expense \| $	$ 0	$ 200,000	$ 200,000
Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, number of customer \| customer	1	1	1
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	18.00%	17.00%	20.00%
Sales Revenue, Net [Member] \| Geographic Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%	9.00%	9.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	6.00%	3.00%	4.00%

Significant Accounting Policies (Property, Plant and Equipment) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Cost of property repairs and maintenance	$ 18.3	$ 18.8	$ 15.7
Depreciation	16.4	16.5	16.7
Product [Member]
Property, Plant and Equipment [Line Items]
Cost of goods sold, depreciation	$ 15.9	$ 16.2	$ 16.3
Minimum [Member]
Property, Plant and Equipment [Line Items]
Capitalized maintenance cost, amortization period	12 months
Minimum [Member] \| Land and Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Capitalized maintenance cost, amortization period	36 months
Maximum [Member] \| Land and Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	39 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years

Significant Accounting Policies (Deferred Financing Costs) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 03, 2018	Mar. 09, 2018
Amortization of deferred financing costs		$ 300	$ 300	$ 200
Write-off of deferred financing costs				$ 768
Unamortized debt issuance expense		1,600	700
Deferred financing costs		$ 1,603	$ 749
Prior Credit Facility [Member]
Write-off of deferred financing costs	$ 800
First Amended and Restated Revolving Credit, Term Loan and Security Agreement [Member]
Deferred financing costs					$ 400
New Markets Tax Credit (NMTC) Program [Member]
Deferred financing costs						$ 700

Significant Accounting Policies (Schedule of Net Sales by Product Line) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Product Information [Line Items]
Net sales	$ 255,927	$ 202,643	$ 154,434
Stainless Steel [Member]
Product Information [Line Items]
Net sales	176,955	139,603	112,118
High-Strength Low Alloy Steel [Member]
Product Information [Line Items]
Net sales	21,617	15,693	13,180
Tool Steel [Member]
Product Information [Line Items]
Net sales	40,308	32,279	19,179
High-Temperature Alloy Steel [Member]
Product Information [Line Items]
Net sales	11,467	12,435	6,057
Conversion Services and Other Sales [Member]
Product Information [Line Items]
Net sales	$ 5,580	$ 2,633	$ 3,900

Revenue Recognition (Narrative) (Details) - Accounting Standards Update 2014-09 [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Revenue Recognition [Line Items]
Revenue practical expedient remaining performance obligation [true/false]	true
Accounts Receivable [Member]
Revenue Recognition [Line Items]
Contract assets	$ 1.0

Revenue Recognition (Summary of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation Of Revenue [Line Items]
Net sales	$ 57,063	$ 69,056	$ 66,071	$ 63,737	$ 50,274	$ 50,887	$ 52,607	$ 48,875	$ 255,927	$ 202,643	$ 154,434
Specialty Alloys [Member]
Disaggregation Of Revenue [Line Items]
Net sales									209,203	172,715
Premium Alloys [Member]
Disaggregation Of Revenue [Line Items]
Net sales									41,144	27,295
Conversion Services and Other Sales [Member]
Disaggregation Of Revenue [Line Items]
Net sales									$ 5,580	$ 2,633

Inventory (Major Classes of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and starting stock	$ 9,555	$ 8,527
Semi-finished and finished steel products	115,627	99,820
Operating materials	12,515	10,850
Gross inventory	137,697	119,197
Inventory reserves	(2,959)	(2,534)
Total inventory, net	$ 134,738	$ 116,663

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 334,368	$ 314,684
Accumulated depreciation	(156,524)	(140,240)
Property, plant and equipment, net	177,844	174,444
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	7,543	7,377
Buildings [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	50,607	50,058
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	269,034	252,010
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 7,184	$ 5,239

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 48,349	$ 80,462
Less: current portion of long-term debt	(3,907)	(4,707)
Less: deferred financing costs	(1,603)	(749)
Long-term debt	42,839	75,006
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	18,204	38,024
Term Loan [Member]
Debt Instrument [Line Items]
Total debt	9,643	21,541
Notes [Member]
Debt Instrument [Line Items]
Total debt	19,000	19,000
Capital Leases [Member]
Debt Instrument [Line Items]
Total debt	$ 1,502	$ 1,897

Long-Term Debt (Credit Facility) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 03, 2018	Mar. 09, 2018
Line of Credit Facility [Line Items]
Maximum secured borrowing capacity	$ 110,000,000
Percentage of maximum secured borrowing capacity	12.50%
Payments due on notes relevant to minimum liquidity calculation	$ 2,000,000
Net deferred financing fees	1,603,000	$ 749,000
Amortization of deferred financing costs	300,000	300,000	$ 200,000
New Markets Tax Credit (NMTC) Program [Member]
Line of Credit Facility [Line Items]
Net deferred financing fees					$ 700,000
PNC Bank [Member]
Line of Credit Facility [Line Items]
Minimum fixed charge coverage ratio				110.00%
Net deferred financing fees	900,000	700,000
Amortization of deferred financing costs	$ 300,000	$ 300,000
PNC Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Commitment fee on the daily unused portion of the Revolver	0.25%
PNC Bank [Member] \| Revolving Credit Facility [Member] \| Restricted Cash [Member]
Line of Credit Facility [Line Items]
Proceeds under New Markets Tax Credit financing	$ 8,000,000
PNC Bank [Member] \| Revolving Credit Facility [Member] \| New Markets Tax Credit (NMTC) Program [Member]
Line of Credit Facility [Line Items]
Increase in maximum aggregate principal amount of borrowings	$ 6,700,000
PNC Bank [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, effective interest rate	3.85%
Amended and Restated Prior Credit Agreement [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Debt instrument, expiration date	Aug. 03, 2023
Amended and Restated Prior Credit Agreement [Member] \| PNC Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum secured borrowing capacity				$ 110,000,000
Additional Credit Agreement [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Net deferred financing fees	$ 400,000
Term Loan [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Frequency of Periodic Payment	quarterly
Quarterly term loan payments	$ 400,000
Term Loan [Member] \| PNC Bank [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, effective interest rate	4.35%
Term Loan [Member] \| Amended and Restated Prior Credit Agreement [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Maximum secured borrowing capacity				$ 10,000,000

Long-Term Debt (Schedule of Maturities of Long-term Debt) (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Debt Disclosure [Abstract]
2019	$ 1,429
2020	1,429
2021	1,429
2022	1,429
2023	22,131
Total debt	$ 27,847

Long-Term Debt (Notes, Capital Leases) (Narrative) (Details) - USD ($)			12 Months Ended
	Mar. 30, 2018	Jan. 21, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2011
Debt Instrument [Line Items]
Aggregate principal payment required if maturity date extend to March 17, 2020			$ 1,429,000
Aggregate principal payment required if maturity date extend to March 17, 2021			22,131,000
Net present value of the minimum lease payments, at inception			1,502,000	$ 500,000
Amortization of capital lease assets			$ 500,000	$ 400,000
Minimum [Member]
Debt Instrument [Line Items]
Capital lease term applicable to depreciate capital assets and obligations			3 years
Maximum [Member]
Debt Instrument [Line Items]
Capital lease term applicable to depreciate capital assets and obligations			5 years
Notes [Member] \| Gorbert Inc. [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 20,000,000
Debt instrument, maturity date	Mar. 17, 2020	Mar. 17, 2019
Aggregate principal payment required if maturity date extend to March 17, 2020	$ 2,000,000
Current portion of long-term debt	$ 2,000,000
Notes [Member] \| Through and Including August 17, 2017 [Member] \| Gorbert Inc. [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		5.00%
Notes [Member] \| From and After August 18, 2017 [Member] \| Gorbert Inc. [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		6.00%
Notes [Member] \| North Jackson Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount					$ 20,000,000

Long-Term Debt (Future Minimum Lease Payments for Capital Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2019	$ 605
2020	583
2021	471
2022	56
2023	15
Total minimum capital lease payments	1,730
Less amounts representing interest	(228)
Present value of net minimum capital lease payments	1,502	$ 500
Less current obligation	(478)
Total long-term capital lease obligation	$ 1,024

New Markets Tax Credit Financing Transaction (Narrative) (Details) - USD ($) $ in Thousands	Mar. 09, 2018	Dec. 31, 2018	Dec. 31, 2017
New Markets Tax Credit Financing Transaction [Line Items]
New market tax credits recapture percentage	100.00%
New market tax credits period of recapture	7 years
Direct costs incurred in structuring financing transaction		$ 1,603	$ 749
Restricted cash		$ 395
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent
Other long-term liabilities		$ 2,835	$ 4
New Markets Tax Credit (NMTC) Program [Member]
New Markets Tax Credit Financing Transaction [Line Items]
Aggregate principal amount of leverage loan loaned to investment fund	$ 6,700
Leverage loan, due date	2048-03
Direct costs incurred in structuring financing transaction	$ 700
Restricted cash		$ 400
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent
Other long-term liabilities		$ 2,800
New Markets Tax Credit (NMTC) Program [Member] \| PNC New Markets Investment Partners, LLC [Member]
New Markets Tax Credit Financing Transaction [Line Items]
Capital contributions to investment fund	$ 3,500

Derivatives and Hedging (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Accumulated unrealized gain (loss) on foreign currency contracts , net of tax		$ (100,000)
Maximum [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Accumulated unrealized gain (loss) on foreign currency contracts , net of tax	$ 100,000
Foreign Exchange Forward Contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedges [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Notional value of derivative contracts	$ 7,400,000	$ 4,500,000

Income Taxes (Schedule of Components of Benefit from Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Current (benefit) provision, Federal									$ (1)	$ (28)	$ 8
Current (benefit) provision, State									86	21	5
Deferred provision (benefit), Federal									2,100	114	(3,501)
Deferred provision (benefit), State									(250)	568	(38)
Benefit related to a change in enacted tax law										(8,276)
Provision (benefit) for income taxes	$ (441)	$ 460	$ 1,139	$ 777	$ (7,884)	$ 176	$ 369	$ (262)	$ 1,935	$ (7,601)	$ (3,526)

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax provision (benefit) at statutory tax rate									$ 2,645	$ 3	$ (3,106)
State income taxes, net of federal impact									74	3	(39)
Research and development tax credit									(874)	(425)	(439)
Valuation allowance, net of federal impact									(167)	475
Impact of changes in enacted tax law										(8,276)
Adjustments to deferred taxes									277	506	4
Other, net									(20)	113	54
Provision (benefit) for income taxes	$ (441)	$ 460	$ 1,139	$ 777	$ (7,884)	$ 176	$ 369	$ (262)	$ 1,935	$ (7,601)	$ (3,526)

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Benefit related to a change in enacted tax law		$ 8,276
Statutory federal rate	21.00%
Net operating loss carryforwards	$ 18,700	45,000
Net operating loss carryforwards expiration year	2031
Net operating loss carryforwards, valuation allowance	$ 5,200	7,400
Income tax examination description	We are routinely under audit by federal or state authorities. Our federal tax returns are subject to examination by the IRS for tax years after 2014. We are subject to examination by most state tax jurisdictions for tax years after 2014.
Research Tax Credit Carryforward [Member]
Income Taxes [Line Items]
Tax credit carryforward amount	$ 4,000	3,100
Tax credit carryforward expiration year	2030
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 8,800	9,100
Net operating loss carryforwards expiration year	2031
Tax credit carryforward amount	$ 200	$ 200
Tax credit carryforward expiration year	2027
Income tax examination year	2014
State and Local Jurisdiction [Member] \| NEW YORK [Member]
Income Taxes [Line Items]
Effective income tax rate continuing operations	0.00%
Federal [Member] \| IRS [Member]
Income Taxes [Line Items]
Income tax examination year	2014

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal and state tax carryforwards	$ 8,331	$ 12,894
Inventory	787	549
Share-based compensation	1,909	2,186
Receivables	239	194
Accrued liabilities	836	349
Other	5	32
Total deferred tax assets	12,107	16,204
Property, plant and equipment	22,951	24,970
Other	637	839
Total deferred tax liabilities	23,588	25,809
Total noncurrent deferred income taxes	$ 11,481	$ 9,605

Net Income (Loss) Per Common Share (Computation of Basic and Diluted Net Income (Loss) Per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net income (loss)	$ 583	$ 3,916	$ 4,038	$ 2,125	$ 7,860	$ (259)	$ 1,228	$ (1,219)	$ 10,662	$ 7,610	$ (5,347)
Denominator:
Weighted average number of shares of common stock outstanding									8,132,632	7,225,697	7,193,300
Weighted average effect of dilutive stock options and other share-based compensation									215,060	149,108
Weighted average number of shares of common stock outstanding, as adjusted									8,347,692	7,374,805	7,193,300
Net income (loss) per common share:
Basic earnings (loss) per share	$ 0.07	$ 0.45	$ 0.52	$ 0.29	$ 1.09	$ (0.04)	$ 0.17	$ (0.17)	$ 1.31	$ 1.05	$ (0.74)
Diluted earnings (loss) per share	$ 0.07	$ 0.44	$ 0.50	$ 0.28	$ 1.06	$ (0.04)	$ 0.17	$ (0.17)	$ 1.28	$ 1.03	$ (0.74)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Income (Loss) Per Common Share (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Jun. 05, 2018	Jun. 01, 2018	May 25, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Proceeds from issuance of common stock net of underwriting discount and other offering fees and expenses				$ 32,246
Stock Compensation Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount				323,250	590,350	844,000
Weighted average price of anti-dilutive options outstanding				$ 32.36	$ 30.63	$ 27.13
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount					268,351	408,459
Options And Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount						6,575
Underwritten Public Offering [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Gross proceeds from issuance of common stock		$ 34,500
Proceeds from issuance of common stock net of underwriting discount and other offering fees and expenses		$ 32,200
Public offering’s impact on weighted average number of shares				800,000
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued during period				1,408,163
Common Stock [Member] \| Underwritten Public Offering [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued during period	183,673		1,224,490
Shares issued price per share			$ 24.50
Underwriters purchase option period			30 days

Share-Based Compensation (Stock Options) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock option exercises	$ 865	$ 553	$ 651
Stock option exercises	48,075
Weighted-average grant-date fair value of stock options granted	$ 10.33
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Award expiration period	10 years
Proceeds from stock option exercises	$ 700	300
Stock option exercises			0
Closing stock price	$ 16.21
Aggregate intrinsic value of outstanding stock options	$ 1,000
Aggregate intrinsic value of exercisable stock options	700
Aggregate intrinsic value of stock options exercised	600	100
Total fair value of stock option awards vested	800	1,200	$ 1,200
Share-based compensation expense	800	$ 1,200	$ 1,300
Unrecognized share-based compensation expense	$ 2,200
Unrecognized share-based compensation expense, weighted-average period of recognition	2 years 9 months 18 days
Weighted-average grant-date fair value of stock options granted	$ 10.12	$ 9.60	$ 5.85
2017 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				568,357
Number of shares available for grant	544,959
Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	0

Share-Based Compensation (Summary of Stock Option Activity) (Details)	12 Months Ended
	Dec. 31, 2018 $ / shares shares
Non-vested stock options outstanding, Number of shares
Non-vested stock options outstanding, beginning balance \| shares	247,200
Stock options granted \| shares	131,350
Stock options vested \| shares	(101,142)
Stock options forfeited \| shares	(13,625)
Non-vested stock options outstanding, ending balance \| shares	263,783
Non-vested stock options outstanding, Weighted-average grant-date fair value
Non-vested stock options outstanding, Weighted-average grant-date fair value, beginning balance \| $ / shares	$ 7.94
Stock options granted \| $ / shares	10.33
Stock options vested \| $ / shares	8.28
Stock options forfeited \| $ / shares	7.27
Non-vested stock options outstanding, Weighted-average grant-date fair value, ending balance \| $ / shares	$ 9.04
Stock options outstanding, Number of shares
Stock options outstanding, beginning balance \| shares	884,050
Stock options granted \| shares	131,350
Stock options exercised \| shares	(48,075)
Stock options forfeited \| shares	(105,300)
Stock options outstanding, ending balance \| shares	862,025
Stock options outstanding, Weighted-average exercise price
Stock options outstanding, weighted-average exercise price, beginning balance \| $ / shares	$ 23.53
Stock options granted \| $ / shares	21.34
Stock options exercised \| $ / shares	14.89
Stock options forfeited \| $ / shares	32.69
Stock options outstanding, weighted-average exercise price, ending balance \| $ / shares	$ 22.56
Stock options outstanding, weighted-average remaining contractual life	6 years
Stock options exercisable at end of period \| shares	598,242
Stock options exercisable, weighted-average exercise price at end of period \| $ / shares	$ 24.38
Stock options exercisable, weighted-average remaining contractual life	4 years 7 months 6 days

Share-Based Compensation (Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted) (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	2.63%	1.92%	1.42%
Risk-free interest rate, maximum	3.10%	2.29%	2.39%
Dividend yield	0.00%	0.00%	0.00%
Expected market price volatility, minimum	45.00%	45.00%	51.00%
Expected market price volatility, maximum	52.00%	53.00%	53.00%
Weighted-average expected market price volatility	49.10%	47.40%	51.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	4 years 8 months 12 days	5 years 7 months 6 days	5 years 7 months 6 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 years 9 months 18 days	7 years 6 months	7 years 6 months

Share-Based Compensation (Summary of Restricted Stock Activity) (Details) - Restricted Stock Units [Member] - $ / shares	1 Months Ended						12 Months Ended
	Dec. 31, 2018	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Number of shares
Beginning balance							82,280	95,000
Restricted stock granted		10,666	5,136	9,530	7,500	6,780	25,332	14,280
Restricted stock vested	(25,000)		(2,260)
Restricted stock forfeited								(27,000)
Ending balance	80,352						80,352	82,280
Weighted-average grant-date fair value
Beginning balance							$ 15.45	$ 14.75
Restricted stock granted		$ 19.46	$ 24.20	$ 26.23	$ 20.29	$ 18.00
Restricted stock vested	$ 14.75		$ 18.00
Restricted stock forfeited								14.96
Ending balance	$ 17.97						$ 17.97	$ 15.45

Share-Based Compensation (Restricted Stock and Restricted Stock Units) (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended					12 Months Ended
	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense						$ 0.5	$ 0.4	$ 0.1
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, time-based shares	10,666	5,136	9,530	7,500	6,780	25,332	14,280
Unrecognized compensation cost						$ 1.0
Unrecognized compensation cost, weighted-average period of recognition						2 years 4 months 24 days
Restricted Stock Units [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
Restricted Stock Units [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years

Share-Based Compensation (Employee Stock Purchase Plan) (Narrative) (Details) - Stock Compensation Plan [Member]	12 Months Ended
	Dec. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate	10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee	100
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Cumulative Shares Issued under Plan	219,991

Retirement Plans (Schedule of Multiemployer Plans) (Details) - Steelworkers Pension Trust [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Multiemployer Plans [Line Items]
Plan number	499
PPA zone status	Green	Green
Funding plan pending / implemented	No
Company contributions to the Trust	$ 880	$ 773	$ 681
Surcharge imposed	No

Selected Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 57,063	$ 69,056	$ 66,071	$ 63,737	$ 50,274	$ 50,887	$ 52,607	$ 48,875	$ 255,927	$ 202,643	$ 154,434
Gross margin	6,424	10,425	11,695	9,272	6,159	5,464	7,166	4,245	37,816	23,034	13,513
Operating (loss) income	865	5,294	5,846	4,065	1,038	1,016	2,667	(484)	16,070	4,237	(3,969)
Provision (benefit) for income taxes	(441)	460	1,139	777	(7,884)	176	369	(262)	1,935	(7,601)	(3,526)
Net (loss) income	$ 583	$ 3,916	$ 4,038	$ 2,125	$ 7,860	$ (259)	$ 1,228	$ (1,219)	$ 10,662	$ 7,610	$ (5,347)
Net (loss) income per common share - Basic	$ 0.07	$ 0.45	$ 0.52	$ 0.29	$ 1.09	$ (0.04)	$ 0.17	$ (0.17)	$ 1.31	$ 1.05	$ (0.74)
Net (loss) income per common share - Diluted	$ 0.07	$ 0.44	$ 0.50	$ 0.28	$ 1.06	$ (0.04)	$ 0.17	$ (0.17)	$ 1.28	$ 1.03	$ (0.74)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Allowance for Doubtful Accounts [Member]

Valuation and Qualifying Accounts Disclosure [Line Items]

Balance at beginning of year

$ 456

$ 309

$ 249

Charged to costs and expenses

159

163

Deductions/ net charge-offs

^[1]

(161)

(12)

(103)

Balance at end of year

295

456

309

Valuation Allowance for Deferred Income Taxes [Member]

Valuation and Qualifying Accounts Disclosure [Line Items]

Balance at beginning of year

2,465

1,553

1,582

Charged to costs and expenses

912

Deductions/ net charge-offs

^[1]

(167)

(29)

Balance at end of year

$ 2,298

$ 2,465

$ 1,553

[1]	Credits to the allowance for doubtful accounts represent the write-off of bad debts net of recoveries. Credits to the valuation allowance for deferred income taxes represent adjustments to existing valuation allowances.

Significant Accounting Policies (Segment Reporting) (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	1

Commitments and Contingencies (Narrative) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Purchase obligations	$ 22.8
Purchase obligations due in 2019	$ 18.0

Significant Accounting Policies (Income Taxes) (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Unrecognized tax positions	$ 0	$ 0	$ 0

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Inputs, Level 2 [Member]
Notes payable, fair value disclosure	$ 18.8	$ 18.8