RESTRUCTURING

12 Months Ended

Dec. 31, 2014

12. RESTRUCTURING

In the second quarter of 2012, we implemented restructuring plans to improve our financial performance. As a result of these actions, we recorded restructuring charges within all reportable segments that were comprised of termination benefits, facility closure costs and inventory charges. In 2012, approximately $430,000 was recorded in operating expenses in the Consolidated Statement of Operations as a result of these restructuring plans.

The following table shows the restructuring activity for 2012 (in thousands):


	Termination Benefits			Facility Costs and Contract Termination			Inventory Charges			Total

Balance at January 1, 2012	$	163		$	65		$	384		$	612
Charges		359			71			—			430
Settlements		(522	)		(136	)		(384	)		(1,042	)
Balance at December 31, 2012	$	—		$	—		$	—		$	—

In the first quarter of 2014, the Company implemented restructuring plans to improve our financial performance in Europe. These plans included the closure of our office in Poland. Because of these actions, restructuring charges of approximately $460,000 were recorded related primarily to the closure of facilities and legal costs.

In the fourth quarter of 2014, the Company implemented restructuring plans to close our offices in Asia. Because of these actions, restructuring charges of approximately $310,000 were recorded related primarily to facilities and employee terminations.

The following table shows the restructuring activity for 2014 (in thousands):


	Termination Benefits			Facility Costs and Contract Termination			Inventory Charges			Total

Balance at January 1, 2014	$	—		$	—		$	—		$	—
Charges		250			463			57			770
Payments/settlements		(60	)		(437	)		(57	)		(554	)
Balance at December 31, 2014	$	190		$	26		$	—		$	216

- 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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