INCOME TAXES (Tables)

12 Months Ended

Dec. 29, 2012

INCOME TAXES

Summary of provision (benefit) for income taxes for continuing operations

The provision (benefit) for income taxes for continuing operations is summarized as follows (amounts in thousands):

		2012		2011
Federal:	Current	$	786	$	9
	Deferred	737		(1,000		)
State:	Current	7		11
	Deferred	187		(174		)
		$	1,717	$	(1,154	)

Schedule of difference between the tax rate for continuing operations on income or loss for financial statement purposes and the federal statutory tax rate

	2012		2011
Statutory tax rate	34.0	%	(34.0	)%
Percentage depletion	(1.5	)	(1.9	)
Non-deductible expenses	.7		1.1
Change in uncertain tax positions	(.4	)	.1
Valuation allowance for tax assets	(4.4	)	(.8	)
State income taxes, net of federal benefit	4.2		(4.2	)
Federal benefit of AMT carry forward	—		.9
Other	.9		.7
	33.5	%	(38.1	)%

Schedule of principal temporary differences and the related deferred taxes

The principal temporary differences and their related deferred taxes are as follows (amounts in thousands):

	2012			2011
Reserves for self-insured losses	$	645		$	729
Accrued reclamation	437			437
Unfunded supplemental profit sharing plan liability	333			279
Asset valuation reserves	432			400
Future state tax credits	732			826
Net state operating loss carryforwards	170			270
Federal AMT carryforward	—			334
Federal NOL carryforward	—			147
Capitalized organization costs	—			335
Approximate long-term capital loss carryforward	1,419			1,474
Other	764			1,213
Valuation allowance	(1,559		)	(1,787		)
Total deferred tax assets	3,373			4,657
Depreciation	1,080			1,548
Deferred development	605			492
Prepaid royalty	663			625
Other	537			547
Total deferred tax liabilities	2,885			3,212
Net deferred tax asset (liability)	$	488		$	1,445

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in thousands):

	2012			2011
Balance at Beginning of Year	$	51		$	53
Additions for tax positions related to the current year	40			51
Reductions for statute of limitations	—			—
Reductions for tax positions of prior years	(51		)	(53		)
Settlements	—			—
Balance at End of Year	$	40		$	51