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Restructuring

12 Months Ended

Dec. 31, 2012

3. Restructuring

In July 2011, we announced that our Chicago facility would be permanently closed as of September 30, 2011 and resulted in charges of $1.0 million recorded in the third quarter of fiscal year 2011. In October 2011, we announced a material Restructuring Plan that was approved by our Board of Directors resulting in charges of $2.2 million in the fourth quarter of fiscal year 2011. This Restructuring Plan involved a realignment of organizational structures, facility consolidations/closures and headcount reductions that amounted to approximately 20% of the Company’s worldwide workforce. The Restructuring Plan was implemented primarily during the fourth quarter of the Company’s 2011 fiscal year. Of the total charges, all but approximately $0.4 million were cash expenditures.

The following is the activity in our restructuring liability account which is included in accrued liabilities line item on the balance sheet for the year ended December 31, 2011 (in thousands):


	December 31, 2010									December 31, 2011
		Balance		Provision		Usage			Reclass		Balance
One-time employee termination benefits	$	-	$	2,230	$	(1,129	)	$	-	$	1,101
Lease/rental terminations		-		558		(110	)				448
Relocation, move, other expenses		-		396		(284	)		4		116

Total	$	-	$	3,184	$	(1,523	)	$	4	$	1,665

In February 2012, we undertook an additional Restructuring Plan that included a further reduction of headcount of 7-8% and other cost reductions that would result in annualized savings of approximately $7.0 million. One-time employee termination and other costs resulted in additional restructuring expenses of $0.2 million was recorded in year ended December 31, 2012.

The following is the activity in our restructuring liability account which is included in the accrued liabilities line item on the balance sheet for the period ended December 31, 2012 (in thousands):


	December 31, 2011									December 31, 2012
			Balance		Provision-net			Usage				Balance
One-time employee termination benefits		$	1,101	$	145		$	(1,238	)		$	8
Lease/rental terminations			448		(12	)		(436	)			-
Relocation, move, other expenses			116		105			(221	)			-

Total		$	1,665	$	238		$	(1,895	)		$	8

- 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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