Casualty Loss Related to Flood

9 Months Ended

Sep. 30, 2011

Casualty Loss Related to Flood

Casualty Loss Related to Flood

Note 15—Casualty Loss Related to Flood

The Company incurred damage at its Sidney, New York manufacturing facility as a result of severe and sudden flooding in New York State in early September 2011. As a result, in the third quarter the Company recorded a charge of $12,800 ($8,100 after taxes), for property-related damage, as well as cleanup and repair efforts incurred through September 30, 2011, net of expected insurance recoveries. This charge includes the Company’s estimated loss for damaged inventory and machinery and equipment. In the fourth quarter, the Company expects to record additional charges of approximately $7,000 ($4,300 after taxes), for one-time expenses related to remaining cleanup and repair efforts.  The Sidney facility had limited manufacturing and sales activity in September which reduced sales by approximately $11,000 in the third quarter.