RESTRUCTURING AND OTHER RELATED CHARGES

9 Months Ended

Jun. 30, 2011

Restructuring and Related Activities Disclosure [Text Block]

NOTE 16 – RESTRUCTURING AND OTHER RELATED CHARGES

The consolidation of the CBP manufacturing facilities plan, announced in June 2009, is substantially complete. For the project to date, CBP incurred pre-tax exit and restructuring costs of $8,857, substantially all of which were cash charges; charges include $1,175 for one-time termination benefits and other personnel costs, $4,933 for excess facilities and related costs, and $2,749 for other exit costs, primarily in connection with production realignment. CBP had $10,297 in capital expenditures in order to effect the restructuring plan.

Telephonics recognized $603 of restructuring charges in the current quarter related to costs incurred in connection with the consolidation of the management of its Electronics Systems and Communication Systems operating units; such charges are all personnel related.

Restructuring and related charges recognized for the three and nine months ended June 30, 2011 and 2010 were follows:

	Workforce Reduction		Facilities & Exit Costs		Other Related Costs		Total
Amounts incurred in:
Quarter ended December 31, 2009	$	279	$	694	$	38	$	1,011
Quarter ended March 31, 2010		124		775		321		1,220
Quarter ended June 30, 2010		94		819		576		1,489
Nine months ended June 30, 2010	$	497	$	2,288	$	935	$	3,720
Quarter ended December 31, 2010	$	239	$	791	$	363	$	1,393
Quarter ended March 31, 2011		61		470		681		1,212
Quarter ended June 30, 2011		1,134		450		534		2,118
Nine months ended June 30, 2011	$	1,434	$	1,711	$	1,578	$	4,723

At June 30, 2011, the accrued liability for the restructuring and related charges consisted of:

	Workforce Reduction			Facilities & Exit Costs			Other Related Costs			Total
Accrued liability at September 30, 2010	$	1,541		$	—		$	—		$	1,541
Charges		1,434			1,711			1,578			4,723
Payments		(1,299	)		(1,711	)		(1,578	)		(4,588	)
Accrued liability at June 30, 2011	$	1,676		$	—		$	—		$	1,676