BUSINESS ACQUISITION

12 Months Ended

Dec. 31, 2012

BUSINESS ACQUISITION

BUSINESS ACQUISITION

NOTE 8 BUSINESS ACQUISITION

        On January 1, 2011, we completed the purchase of certain assets and certain liabilities relating to Winland Electronics, Inc.'s EMS operations (Winland) located in Mankato, MN. Winland is a designer and manufacturer of custom electronic control products and systems. This purchase provided needed manufacturing capacity, particularly for supporting medical and industrial customers with printed circuit board assemblies and higher-level builds. The acquisition was accounted for as a business combination and results of operations since the date of acquisition are included in the consolidated financial statements.

        The following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values at the time of the acquisition:

Accounts receivable	$	1,914,723
Property, plant and equipment		2,451,000
Accounts payable assumed		(1,772,334	)
Lease payoff		(259,385	)
Net assets acquired		2,334,004
Purchase price		1,542,389
Bargain purchase gain	$	791,615

        We recognized a $791,615 bargain purchase gain related to the excess fair value over the purchase price for the assets acquired in the first quarter of 2011.