Basis of Presentation

6 Months Ended

Jul. 02, 2011

Basis of Accounting [Text Block]

Note 2: Basis of Presentation
	The accompanying financial information is unaudited, but, in the opinion of management, reflects all adjustments (which include only normally recurring adjustments) necessary to present fairly the Company’s financial position, operating results and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The condensed balance sheet amounts as of January 1, 2011 have been derived from our audited financial statements for the year ended January 1, 2011. The financial information should be read in conjunction with the audited financial statements and notes thereto for the year ended January 1, 2011 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The results of operations for the thirteen and twenty-six week periods ended July 2, 2011 are not necessarily indicative of the results to be expected for the full year or any other period.
	Out-of-Period Amounts: In the thirteen weeks ended July 3, 2010, the Company identified accounting errors in its Condensed Financial Statements for the thirteen weeks ended April 3, 2010. To correct such errors, the Company recorded a $148 reduction in net sales and a $55 reduction in cost of sales in the Condensed Statement of Operations for the thirteen weeks ended July 3, 2010. The after-tax impact of recording this adjustment was a $56 reduction in net income, or $0.01 per share. The Company determined that the errors were not material to the financial statements in the period in which they originated and, accordingly, a restatement of the financial statements for the thirteen weeks ended April 3, 2010 was not necessary. The Company also determined that the impact of correcting the errors was not material to its financial statements for the period ended July 3, 2010. The Company evaluated the relevant internal controls over financial reporting in light of the deficiencies in internal controls noted and did not identify any additional material weakness in internal control over financial reporting that were not previously reported.
	The Company operates on a fiscal year which ends on the Saturday closest to December 31st.