Annual report pursuant to Section 13 and 15(d)

Note 3 - Consolidated financial statement details

v2.4.0.6
Note 3 - Consolidated financial statement details
 12 Months Ended
Jan. 01, 2012
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
 3.      Consolidated financial statement details

The following consolidated financial statement details are presented as of the period end dates indicated for the consolidated balance sheets and for each of the periods indicated for the consolidated statements of operations and comprehensive income.

Consolidated balance sheets

Accounts receivable—net:

   
January 1,
2012
   
January 2,
2011
 
Accounts receivable
  $ 37,959     $ 35,066  
Taxes receivable
    —       537  
Allowance for doubtful accounts
    (55 )     (312 )
                 
Accounts receivable—net
  $ 37,904     $ 35,291  

Inventories:

   
January 1,
2012
   
January 2,
2011
 
Raw materials
  $ 37,438     $ 30,218  
Work in process
    9,716       8,384  
Finished goods
    4,047       2,461  
Parts
    1,447       1,350  
                 
Inventories
  $ 52,648     $ 42,413  

Property, plant and equipment—net:

   
January 1,
2012
   
January 2,
2011
 
Cost:
           
Land
  $ 1,648     $ 1,648  
Buildings
    9,878       9,878  
Machinery and equipment (a)
    35,743       32,068  
Office furniture and equipment
    2,417       2,396  
Computer hardware and software (b)
    9,365       9,113  
Leasehold improvements
    3,275       3,123  
                 
      62,326       58,226  
                 
Less accumulated depreciation:
               
Land
    —       —  
Buildings
    (5,795 )     (5,283 )
Machinery and equipment (a)
    (26,833 )     (24,957 )
Office furniture and equipment
    (2,350 )     (2,326 )
Computer hardware and software (b)
    (9,001 )     (8,825 )
Leasehold improvements
    (2,992 )     (2,944 )
                 
      (46,971 )     (44,335 )
                 
Property, plant and equipment—net
  $ 15,355     $ 13,891  

(a)
Included within machinery and equipment were assets under capital leases with costs of $5,569 and $8,577, and associated accumulated depreciation of $1,088 and $4,958 as of January 1, 2012 and January 2, 2011, respectively. The related depreciation expense for the periods ended January 1, 2012, January 2, 2011 and January 3, 2010 were $627, $960 and $1,017, respectively. During the period ended January 1, 2012, the Company assumed ownership of machinery and equipment formerly under capital lease with cost of $6,136 and accumulated depreciation of $4,497, upon conclusion of the capital lease terms. Nominal consideration was paid for these assets. These assets were reclassified to owned machinery and equipment on a prospective basis.

(b)
At January 2, 2011, included within computer hardware and software were assets under capital leases with costs of $268 and associated accumulated depreciation of $225. During the period ended January 1, 2012, the Company assumed ownership of these assets formerly under capital lease, which were fully depreciated upon conclusion of the capital lease terms. Nominal consideration was paid for these assets. The related depreciation expense for the periods ended January 1, 2012, January 2, 2011 and January 3, 2010 was $43, $88 and $88, respectively.

Deferred financing costs – net:

   
January 1,
2012
   
January 2,
2011
 
Deferred financing costs
  $ 1,356     $ 2,777  
Accumulated amortization
    (440 )     (2,297 )
                 
    $ 916     $ 480  

Accrued liabilities:

   
January 1,
2012
   
January 2,
2011
 
Customer related
  $ 1,892     $ 1,469  
Payroll
    3,169       6,424  
Professional services
    485       794  
Restructuring (note 7)
    915       —  
Vendor related
    722       35  
Miscellaneous taxes
    108       131  
Acquisition related (note 15)
    2,400       —  
Other
    473       446  
                 
Accrued liabilities
  $ 10,164     $ 9,299  

Consolidated statements of operations and comprehensive income

Interest expense:

   
Period ended
January 1,
2012
   
Period ended
January 2,
2011
   
Period ended
January 3,
2010
 
Long-term debt
  $ 1,287     $ 1,660     $ 1,765  
Obligations under capital leases
    187       55       207  
Other
    (6 )     (18 )     (12 )
                         
Interest expense
  $ 1,468     $ 1,697     $ 1,960