Note 2 - Reclassifications and Adjustments

6 Months Ended

Jun. 29, 2013

Disclosure Text Block [Abstract]

Reclassifications [Text Block]

2. Reclassifications and Adjustments

As disclosed in the Annual Report on Form 10-K for the year ended December 29, 2012, the company determined that in late-November 2012 it began to exercise significant influence over Shocking Technologies (“Shocking”). Accordingly, the company began accounting for the investment in Shocking using the equity method and in accordance with ASC 323, retroactively recorded its proportional share of Shocking's operating losses, which amounted to approximately $4.0 million in 2012. See Note 6 for additional information related to Shocking.

As a result of this retroactive application of the equity method, certain items in the company’s interim results reported on their 2012 Forms 10-Q have been retrospectively restated, as shown in the following tables (in thousands except for per share amounts):

	For the Three Months ended June 30, 2012							For the Six Months ended June 30, 2012
Consolidated Statements of Net Income and Comprehensive Income	As Previously Reported		Adjustment			As Adjusted		As Previously Reported		Adjustment			As Adjusted
Impairment and equity in net loss of unconsolidated affiliate	$	—	$	1,033		$	1,033	$	—	$	1,558		$	1,558
Income before income taxes		32,432		(1,033	)		31,399		57,732		(1,558	)		56,174
Income taxes		8,828		(392	)		8,436		16,239		(591	)		15,648
Net income		23,604		(641	)		22,963		41,493		(967	)		40,526
Basic Earnings per share	$	1.08	$	(0.03	)	$	1.05	$	1.91	$	(0.05	)	$	1.86
Diluted Earnings per share	$	1.07	$	(0.03	)	$	1.04	$	1.88	$	(0.04	)	$	1.84
Comprehensive income	$	15,323	$	(641	)	$	14,682	$	42,354	$	(967	)	$	41,387

	For the Six Months ended June 30, 2012
	As Previously Reported		Adjustment			As Adjusted
Consolidated Statements of Cash Flows
Net income	$	41,493	$	(967	)	$	40,526
Impairment and equity in net loss of unconsolidated affiliate		—		1,558			1,558
Accrued taxes		1,093		(591	)		502