DISCONTINUED OPERATIONS

6 Months Ended

Jul. 02, 2011

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

NOTE 2 — DISCONTINUED OPERATIONS

Effective December 25, 2010, the Company decided to cease operations at its Woodburn, Oregon manufacturing facility.  The Oregon operations were discontinued due to the Company’s decision to exit this unprofitable geographic region.  In light of a persistently difficult market and challenging cost structure, the Company is working with customers to meet existing commitments.  The amount of Oregon business expected to be retained is insignificant.  The Oregon facility and equipment are classified as held for sale as of July 2, 2011 and December 25, 2010 and are included in other current assets in the accompanying balance sheet.

The 2011 operating results for the Woodburn, Oregon location are classified as discontinued operations, and prior years’ operating results have been reclassified to discontinued operations as follows:

	Three Months Ended						Six Months Ended
	July 2, 2011			June 26, 2010			July 2, 2011			June 26, 2010
Net sales	$	465,193		$	1,649,520		$	3,285,848		$	4,104,067
Pretax loss from operations	$	(334,706	)	$	(303,887	)	$	(691,845	)	$	(697,771	)
Net loss	$	(334,706	)	$	(303,887	)	$	(691,845	)	$	(697,771	)

In the fourth quarter of 2009, the Company terminated its Silver Crown luxury motorhome product line.  This decision was triggered by a significant reduction of new motorhome sales orders and the cancellation of sales orders due to the extremely tight credit markets caused by the economic recession.  The Company decided to exit the motorhome product line as part of a plan to focus on core truck, bus and armored products and to reduce overall fixed costs.

The Silver Crown facility in White Pigeon, Michigan is classified as held for sale as of July 2, 2011 and December 25, 2010 and is included in other current assets in the accompanying balance sheet.  Any losses incurred in 2011 related to the wind-down of the operations are expected to be insignificant and will be reflected as continuing operations in the 2011 Statement of Operations.

The 2010 operating results for the Silver Crown division are classified as discontinued operations as follows:

	Three Months Ended			Six Months Ended
	June 26, 2010			June 26, 2010
Net sales	$	—		$	1,567,977
Pretax loss from operations	$	(143,970	)	$	(138,766	)
Net loss	$	(143,970	)	$	(138,766	)