12. Restructuring

6 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

12. Restructuring

Note 12. Restructuring

On March 16, 2015, the Company decided to institute an initiative to restructure operations and shut down the Charleston, South Carolina site. This step was done to consolidate operations within the Company's headquarters located in Morristown, New Jersey.

The restructuring expenses during the three and six months ended June 30, 2015 was a reduction of $108,000 and a charge of $1.2 million, respectively. The charge during the six months ended June 30, 2015 was comprised of $545,000 in severance related cash expenses, and $653,000 for the modification and accelerated vesting of options and awards under existing employee agreements. Associated severance payments are anticipated to be paid by December 31, 2015.

A summary of accrued restructuring costs, included as a component of accounts payable and accrued expenses on the condensed consolidated balance sheet, is as follows (in thousands):

		December 31, 2014		Charges		Cash		Non-cash		June 30, 2015
Restructuring Costs	$	-	$	1,197	$	(28)	$	(653)	$	516