SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 01, 2016

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Components of Inventories

The components of inventories are as follows as of July 1, 2016 and December 31, 2015, respectively (amounts in thousands):

	July 1, 2016			December 31, 2015
Raw materials	$	9,760		$	11,262
Finished goods		9,863			12,380
Inventory reserves		(687	)		(738	)
LIFO reserve		(3,623	)		(3,637	)
	$	15,313		$	19,267

Components of Compensation Expense as a Result of Share-based Payments

The components of compensation expense are as follows for the three and six months ended July 1, 2016 and June 26, 2015, respectively (amounts in thousands):

	Three Months Ended					Six Months Ended
	July 1, 2016			June 26, 2015		July 1, 2016		June 26, 2015
Stock appreciation right (income) expense	$	(8	)	$	43	$	24	$	63

Assumptions for Expected Term, Volatility and Risk-free Rate

The assumptions for expected term, volatility and risk-free rate are presented in the table below as of July 1, 2016 and June 26, 2015, respectively:

	July 1, 2016	June 26, 2015
Expected term (years)	0.2 - 5.0	1.2 - 5.0
Volatility	181.2% - 305.34%	149.8% - 323.0%
Risk-free interest rate	0.2% - 1.0%	0.4% - 1.7%

Reclassifications

As shown in the table below, pursuant to the guidance in ASU 2015-03, we have reclassified unamortized debt issuance costs associated with our term loan (see Note 4 for detail) in our previously reported Condensed Consolidated Balance Sheets as of December 31, 2015 to conform to our presentation as of July 1, 2016 as follows (amounts in thousands):

	As presented December 31, 2015		Reclassifications			As adjusted December 31, 2015
Other assets	$	3,882	$	(2,135	)	$	1,747
Current maturities of long-term debt		1,800		(657	)		1,143
Long-term debt		22,913		(1,478	)		21,435

As shown in the table below, pursuant to the guidance in ASU 2015-03, we have reclassified unamortized debt issuance costs associated with our term loan (see Note 4 for detail) in our previously reported Condensed Consolidated Statements of Cash Flows as of June 26, 2015 to conform to our presentation as of July 1, 2016 as follows (amounts in thousands):

	As presented June 26, 2015		Reclassifications			As adjusted June 26, 2015
Amortization of debt issuance costs	$	278	$	(164	)	$	114
Accrued expenses		257		164			421