Discontinued Operations

9 Months Ended

Oct. 01, 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.   

Loss from discontinued operations, net of taxes, comprised the following (in thousands):

	Three Months Ended				Nine Months Ended
	Oct. 1, 2016		Sept. 26, 2015		Oct. 1, 2016		Sept 26, 2015
Net sales	$	-	$	16	$	-	$	554
Cost of sales		-		41		-		760
Selling, general and administrative expenses, net		-		(36)		-		(134)
Other income		-		63		-		63
Income (loss) from discontinued operations before income taxes		-		74		-		(9)
Income taxes		-		-		-		-
Income (loss) from discontinued operations after income taxes	$	-	$	74	$	-	$	(9)

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.