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Note 9 - Insurance Recoveries
3 Months Ended
Mar. 31, 2012
Schedule of Business Insurance Recoveries [Table Text Block]
NOTE 9:  INSURANCE RECOVERIES

In February 2012, our Foley Plant experienced a power failure and electrical surge triggered by a malfunction in a high voltage electrical line and subsequent transformer failure in its power house.  This resulted in an unplanned, complete shutdown of the facility.  During the three months ended March 31, 2012, the estimated loss, net of expected insurance proceeds, was $2,433 which is reflected in cost of goods sold.

In September 2010, one of the turbine generators at our Foley Plant suffered a winding insulation failure and the entire plant lost power.  In December 2010, we reached an agreement with our insurance carrier that determined our loss to be $2,353, including property damage and business interruption.  We received a settlement of $353, net of our deductible, which we recorded to cost of goods sold during the nine months ended March 31, 2011.

On June 17, 2010, our Foley Plant experienced a failure on our utility provider’s incoming line that sent a voltage surge to most of our electrical components, resulting in losses of variable frequency drives and other electrical control components.  This power failure caused an unplanned complete shutdown of the facility.  In July 2010, we experienced additional downtime when additional electrical control components damaged by the voltage surge failed.  In December 2010, we reached an agreement with our insurance carrier that determined our loss to be $5,719, including business interruption and property damage.  After satisfying our $2,000 deductible, we received a settlement of $3,719 which we recorded to cost of goods sold during the nine months ended March 31, 2011.