Reorganization

12 Months Ended

Apr. 02, 2011


16.	REORGANIZATION

On April 1, 2010, our Board of Directors approved transformation and restructuring plans, which include the integration of Global Med Technologies, Inc. During fiscal year 2011, in addition to the costs in the below table and as part of our approved transformation and restructuring plans, we incurred the following expenses:


	•	Stock compensation expense of $1.7 million resulting from the acceleration of unvested stock options in accordance to terms of an employment contract for an employee. This expense is included as part of our restructuring charges and reflected in our consolidated statement of income as selling, general and administrative expense for the year ended April 2, 2011.

	•	$2.1 million of integration costs related to the Global Med acquisition.

During fiscal year 2010, in connection with the transformation plan, we had an asset write down of $15.7 million related to the abandonment of our next generation platelet apheresis platform and our blood center donation management software, as well as $8.6 million in transformation costs related to the separation of employees and reflected in our consolidated statement of income as selling, general and administrative expense.

During fiscal year 2009, the Company finalized and implemented aspects of its Technical Operations organization transformation plan to better align our Technical Operations resources with our strategy to be the global leader in blood management solutions for our customers. In accordance with the Company’s revised guidance, we incurred restructuring and other transformation costs of $7.0 million.

Additionally, during fiscal year 2009, we finalized the consolidation of our customer support functions in Europe into our European Headquarters in Signy, Switzerland. The consolidated center in Signy now includes finance, legal, human resources, customer and sales support, and logistics, supply chain management and procurement. At March 28, 2009, we recorded pre-tax restructuring costs $6.1 million as selling, general, and administrative costs. Additionally, we incurred other transformation costs relating to the hiring of personnel in our new shared services center in Signy, Switzerland of $0.9 million for the year ended March 28, 2009.

The following summarizes the restructuring activity for the year ended April 2, 2011, April 3, 2010, and March 28, 2009, respectively:


										Restructuring
										Accrual
	Balance at		Cost					Asset		Balance at
	April 3, 2010		Incurred		Payments			Write down		April 2, 2011
	(In thousands)

Employee-related costs	$	9,761	$	3,595	$	(10,574	)	$	—	$	2,782
Facility related costs		—		889		—			—		889

	$	9,761	$	4,484	$	(10,574	)	$	—	$	3,671


											Restructuring
											Accrual
	Balance at		Cost					Asset			Balance at
	March 28, 2009		Incurred		Payments			Write down			April 3, 2010
	(In thousands)

Employee-related costs	$	2,729	$	8,598	$	(1,566	)	$	—		$	9,761
Facility related costs		42		—		(42	)		—			—
Other exit & termination costs		78		15,686		(78	)		(15,686	)		—

	$	2,849	$	24,284	$	(1,686	)	$	(15,686	)	$	9,761


										Restructuring
										Accrual
	Balance at		Cost					Asset		Balance at
	March 29, 2008		Incurred		Payments			Write down		March 28, 2009
	(In thousands)

Employee-related costs	$	521	$	6,076	$	(3,868	)	$	—	$	2,729
Facility related costs		42		72		(72	)		—		42
Other exit & termination costs		78		—		—			—		78

	$	641	$	6,148	$	(3,940	)	$	—	$	2,849