Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Consolidated Financial Statement Details

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Note 3 - Consolidated Financial Statement Details
 3 Months Ended
Mar. 31, 2013
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 ended for the consolidated balance sheets and for the periods ended for each of the consolidated statements of operations and comprehensive income.

Consolidated balance sheets

Accounts receivable – net:

   
March 31,
2013
   
December 30,
2012
 
Accounts receivable
  $ 40,133     $ 36,506  
Allowance for doubtful accounts
    (135 )     (205 )
Accounts receivable—net
  $ 39,998     $ 36,301  

Inventories:

   
March 31,
2013
   
December 30,
2012
 
Raw materials
  $ 35,598     $ 39,714  
Work in process
    14,153       9,717  
Finished goods
    7,542       3,894  
Parts
    1,501       1,481  
Inventories
  $ 58,794     $ 54,806  

Property, plant and equipment – net:

   
March 31,
2013
   
December 30,
2012
 
Cost:
           
Land
  $ 1,648     $ 1,648  
Buildings
    9,878       9,878  
Machinery and equipment (a)
    41,714       41,050  
Office furniture and equipment
    2,799       2,770  
Computer hardware and software (b)
    10,404       10,226  
Leasehold improvements (c)
    3,990       3,967  
      70,433       69,539  
                 
Less accumulated depreciation:
               
Land
    —       —  
Buildings
    (6,428 )     (6,303 )
Machinery and equipment (a)
    (29,551 )     (28,931 )
Office furniture and equipment
    (2,443 )     (2,414 )
Computer hardware and software (b)
    (9,436 )     (9,342 )
Leasehold improvements (c)
    (3,180 )     (3,139 )
      (51,038 )     (50,129 )
Property, plant and equipment—net
  $ 19,395     $ 19,410  

(a)
Included within machinery and equipment were assets under capital leases with costs of $6,452 and $5,739 as at March 31, 2013 and April 1, 2012, respectively and associated accumulated depreciation of $1,383 and $1,249 as of March 31, 2013 and of April 1, 2012, respectively. The related depreciation expense for the three months ended March 31, 2013 and April 1, 2012 were $200 and $160, respectively.

(b)
Included within computer hardware and software were assets under capital leases with costs of $400 and $400 as at March 31, 2013 and April 1, 2012, respectively and associated accumulated depreciation of $156 and $22 as at March 31, 2013 and April 1, 2012 respectively.  The related depreciation expense for the three months ended March 31, 2013 and April 1, 2012 were $33 and $22, respectively.

(c)
Included within leasehold improvements were assets under capital leases with costs of $73, and associated accumulated depreciation of $16 as of March 31, 2013. The related depreciation expense for the three months ended March 31, 2012 was $4. There were no leasehold improvements under capital lease for the three months ended April 1, 2012.

Deferred financing costs:

   
March 31,
2013
   
December 30,
2012
 
Deferred financing costs
  $ 1,396     $ 1,396  
Accumulated amortization
    (923 )     (832 )
    $ 473     $ 564  

Accrued liabilities:

   
March 31,
2013
   
December 30,
2012
 
Customer related
  $ 1,782     $ 1,374  
Payroll
    3,891       3,968  
Professional services
    631       597  
Restructuring (note 9)
    1,704       1,727  
Vendor related
    —       95  
Miscellaneous taxes
    143       45  
Acquisition related
    494       785  
Other
    124       629  
Accrued liabilities
  $ 8,769     $ 9,220  

Consolidated statements of operations and comprehensive income

Interest expense:

   
Three months ended
 
   
March 31, 2013
   
April 1, 2012
 
Long-term debt
  $ 38     $ 73  
Revolving credit facility
    296       321  
Obligations under capital leases
    50       69  
Interest expense
  $ 384     $ 463