Discontinued Operations

9 Months Ended

Sep. 28, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

NOTE 15 – Discontinued Operations

On October 2, 2013, the company completed the sale of its Electronics Manufacturing Services (“EMS”) Business to Benchmark Electronics, Inc. (“Benchmark”) for approximately $75,000,000 in cash. Included were five manufacturing facilities located in Moorpark, CA, Londonderry, NH, Bangkok, Thailand, Matamoros, Mexico and San Jose, CA and approximately 1,000 employees.

The Condensed Statement of Earnings of the EMS discontinued operations is as follows:

	Three Months Ended		Nine Months Ended
($ in thousands)	September 29, 2013		September 29, 2013
Net sales	$	55,931	$	153,561
Cost of goods sold		50,402		140,550
Selling, general and administrative expenses		2,938		10,260
Restructuring and impairment charge		52		648
Operating income		2,539		2,103
Other income, net		187		254
Earnings before income taxes		2,726		2,357
Income tax expense		1,022		1,154
Net earnings from discontinued operations	$	1,704	$	1,203