Discontinued Operations

3 Months Ended

Apr. 02, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

7.       Discontinued Operations

During the second quarter of 2014, we concluded that revenue on our Young America product line remained below the level needed to reach profitability and that the time frame needed to assure sustainable profitability was longer than we felt was economically justified.  Therefore, we made the decision to cease manufacturing operations at our Robbinsville, North Carolina facility and sell the related assets of this facility.  Manufacturing operations were ceased in the third quarter of 2014 and as a result this product line was reflected as a discontinued operation pursuant to the provisions of Accounting Standards Update No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (ASU 2014-08) for all periods presented.   

There was no loss from discontinued operations in the first quarter of 2016.  Loss from discontinued operations, net of taxes, for the three months ended March 28, 2015 comprised the following (in thousands):

Net sales	$	207
Cost of sales		393
Selling, general and administrative expenses		(68)
Loss from discontinued operations before income taxes		(118)
Income tax		-
Loss from discontinued operations, net of income taxes	$	(118)

Loss from discontinued operations included write-down of inventories and other assets, severance and other termination costs and operating losses related to final manufacturing production.