Subsequent Event

9 Months Ended

Sep. 29, 2013

Subsequent Event [Abstract]

Subsequent Event

NOTE H – SUBSEQUENT EVENT

On November 7, 2013, AMTEC Corporation, a wholly-owned subsidiary of the Company, purchased substantially all of the assets of DSE, Inc. (“DSE”), a defense contractor that manufactures and sells 40MM ammunitions to the U.S. Government.  The purchase price was $47.1 million.

The fair value of the assets acquired and liabilities assumed as of the date of acquisition will be recorded in the Company’s consolidated financial statements.  Because the valuation of the assets acquired and liabilities assumed had not been completed as of the date of the issuance of the Company’s consolidated financial statements, it was not possible to reasonably estimate the nature and amount of any potential goodwill or the value of identifiable intangible assets.

Assets acquired include inventory, equipment, and contract backlog.  The latter is approximately $187 million and is scheduled for production and shipment during the next 36 months.