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Note 11 - Discontinued Operations
 12 Months Ended
Dec. 30, 2017
Notes to Financial Statements  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
11.
   Discontinued Operations
 
In
2015,
we sold all of the outstanding stock of BMS for
$4.9
 million in cash and up to
$2.5
 million of contingent cash consideration. Our decision to sell this non-core business resulted from management’s determination that they were
no
longer a strategic fit within our organization.
 
As part of the divestiture of BMS we recorded a contingent consideration receivable that was been classified as Level
 
3
in the fair value hierarchy. See Note
4,
“Financial Instruments Measured at Fair Value” for additional information on the
three
-tier fair value hierarchy. The contingent consideration represents the estimated fair value of future payments we are due based on BMS achieving annual revenue targets in
2016
and
2017
as specified in the sale agreement. We determined the value of the contingent consideration using a Monte Carlo simulation model with changes to the fair value of the contingent consideration being recognized in discontinued operations. During
2017,
BMS failed to meet the necessary revenue targets and the contingent consideration receivable was written-off.
 
Operating results of our discontinued BMS operation are summarized as follows
(
in thousands
)
:
 
   
December 30,
    
December 31,
    
December 26,
  
   
2017
    
2016
    
2015
  
Net sales
   $
-
     $
-
     $
6,965
  
                         
Loss from operations
   $
-
     $
-
     $
(1,963
 )
Loss from sale
    
(278
 )    
(221
 )    
(3,573
 )
Loss before taxes
    
(278
 )    
(221
 )    
(5,536
 )
Income tax provision
    
-
      
-
      
6
  
Loss, net of tax
   $
(278
 )   $
(221
 )   $
(5,542
 )