Note 4 - Restructuring Charges

12 Months Ended

Sep. 29, 2018

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

(

4

)

Restructuring Charges

In

2014

we purchased substantially all of the assets associated with the PC strand business of American Spring Wire Corporation (“ASW Acquisition”). Subsequent to the ASW Acquisition, in

2014,

we incurred employee separation costs for staffing reductions associated with the acquisition. In

February 2015,

we elected to consolidate our PC strand operations with the closure of the Newnan, Georgia facility that had been acquired through the ASW Acquisition, which was completed in

March 2015.

Following is a summary of the restructuring activities and associated costs that were incurred during

2017

and

2016:

	Asset						Severance and						Gain on Sale
(In thousands)	Impairment			Equipment			Other Employee			Facility			of Property
	Charges			Relocation Costs			Separation Costs			Closure Costs			and Equipment			Total
2017
Liability as of October 1, 2016	$	-		$	31		$	239		$	-		$	-		$	270
Restructuring charges		-			164			-			-			-			164
Cash payments		-			(195	)		(239	)		-			-			(434	)
Non-cash charges		-			-			-			-			-			-
Liability as of September 30, 2017	$	-		$	-		$	-		$	-		$	-		$	-
2016
Liability as of October 3, 2015	$	-		$	-		$	735		$	-		$	-		$	735
Restructuring charges (recoveries)		20			186			-			89			(180	)		115
Cash payments		-			(155	)		(496	)		(89	)		-			(740	)
Non-cash charges		(20	)		-			-			-			180			160
Liability as of October 1, 2016	$	-		$	31		$	239		$	-		$	-		$	270