Note 7 - Restructuring Charges

9 Months Ended

Nov. 27, 2016

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

7. RESTRUCTURING CHARGES

During the

2013

fiscal year, the Company closed its Nelco Technology (Zhuhai FTZ) Ltd. business unit located in Zhuhai, China. The Nelco Technology (Zhuhai FTZ) Ltd. building was sold for

$2,026

during the

first

quarter of the

2016

fiscal year. There was no gain or loss on the sale of the building, since the carrying value of the building was equal to the selling price. The Company paid

$0

and

$8

during the

13

weeks ended

November

27,

2016

and

November

29,

2015,

respectively, and

$0

and

$83

during the

39

weeks ended

November

27,

2016

and

November

29,

2015,

respectively, of additional pre - tax charges related to such closure.

The Company recorded additional restructuring charges of

$113

and

$150

during the

13

weeks ended

November

27,

2016

and

November

29,

2015,

respectively, and

$206

and

$290

during the

39

weeks ended

November

27,

2016

and

November

29,

2015,

respectively, related to the closure in the

2009

fiscal year of the Company’s New England Laminates Co., Inc. business unit located in Newburgh, New York. The New England Laminates Co., Inc. building in Newburgh, New York is held for sale. In the

2004

fiscal year, the Company reduced the book value of the building to

zero,

and the Company intends to sell it during the

2017

fiscal year.