Restructuring Charges

3 Months Ended

Mar. 31, 2013

Note 12 – Restructuring Charges

The Company has undertaken initiatives to restructure its business operations with the intention of improving utilization and realizing cost savings in the future. These initiatives have included changing the number and location of production facilities, largely to align capacity and infrastructure with current and anticipated customer demand. This alignment includes transferring programs from higher cost geographies to lower cost geographies. The process of restructuring entails, among other activities, moving production between facilities, reducing staff levels, realigning our business processes and reorganizing our management.

The Company recognized restructuring charges during 2013, 2012 and 2011 primarily related to the closure of facilities, capacity reduction and reductions in workforce in certain facilities worldwide. These charges were recorded pursuant to plans developed and approved by management.

The following table summarizes the 2013 activity in the accrued restructuring balances related to the various restructuring activities initiated prior to March 31, 2013:


	Balance as of											Foreign			Balance as of
	December 31,		Restructuring			Cash			Non-Cash			Exchange			March 31,
(in thousands)	2012		Charges			Payment			Activity			Adjustments			2013
2013 Restructuring:
Severance	$	-	$	107		$	(107	)	$	-		$	-		$	-
Other exit costs		-		76			(76	)		-			-			-
		-		183			(183	)		-			-			-

2012 Restructuring:
Severance		538		136			(156	)		-			76			594
Lease facility costs		-		177			-			(39	)		-			138
Other exit costs		166		-			(25	)		-			(94	)		47
		704		313			(181	)		(39	)		(18	)		779
2011 Restructuring:
Lease facility costs		13		(54	)		48			-			6			13
		13		(54	)		48			-			6			13
Total	$	717	$	442		$	(316	)	$	(39	)	$	(12	)	$	792

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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