Note 7 - Restructuring Charge

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

NOTE

7

.  -  RESTRUCTURING CHARGE

On April 10, 2015 the Company committed to a plan intended to result in savings of approximately $750,000 to $1.0 million in annualized operating costs. These actions aim to mitigate gross margin erosion by reducing manufacturing costs, streamlining research and development and sales and marketing expenses to focus remaining resources on key strategic growth areas, and reducing administrative expenses through consolidation of support functions. As part of this plan, the Company reduced its workforce by 9 regular full-time positions. T

he Company recorded a restructuring charge of $58,000, classified as an operating expense, in the second quarter of 2015 related to future cash expenditures to cover employee severance and benefits. This entire amount was paid out under the restructuring plan by June 30, 2015.