CONSOLIDATION, RESTRUCTURING AND RELATED CHARGES (CREDITS)

12 Months Ended

Oct. 30, 2011

CONSOLIDATION, RESTRUCTURING AND RELATED CHARGES (CREDITS) [Abstract]

CONSOLIDATION, RESTRUCTURING AND RELATED CHARGES (CREDITS)

NOTE 12 - CONSOLIDATION, RESTRUCTURING AND RELATED CHARGES (CREDITS)

2009 Restructurings

Shanghai, China, Facility

In the third quarter of fiscal 2009, the Company ceased the manufacture of photomasks at its Shanghai, China, facility. In connection with this restructuring, the Company recorded total net charges of $5.2 million, including $4.7 million of net asset write-downs through its completion in fiscal 2010. The fair value of the assets written down was determined by management using a market approach. Approximately 75 employees were affected by this restructuring.

The Company recorded an initial restructuring charge of $10.1 million in the third quarter of fiscal 2009, which included $7.7 million to write down the carrying value of the Company's Shanghai manufacturing facility to its estimated fair value at that time. In the second quarter of fiscal 2010, the Company sold its facility in Shanghai, China, for net proceeds of $12.9 million which resulted in a gain of $5.4 million, which was recorded as a credit to the restructuring reserve in that quarter.

The following tables set forth the Company's restructuring reserve as of October 31, 2010 and November 1, 2009, related to its Shanghai, China, facility, and reflect the activity affecting the reserve for the years then ended.

	Year Ended October 31, 2010
	November 2, 2009		Charges (credits)			Utilized			October 31, 2010
Net gain on sale of assets	$	-	$	(5,189	)	$	5,189		$	-
Employee terminations and other		134		210			(344	)		-
	$	134	$	(4,979	)	$	4,845		$	-

	Year Ended November 1, 2009
	November 3, 2008		Charges		Utilized			November 1, 2009
Asset write-downs	$	-	$	9,908	$	(9,908	)	$	-
Other		-		324		(190	)		134
	$	-	$	10,232	$	(10,098	)	$	134

Manchester, U.K. Facility

During the first quarter of fiscal 2009, the Company ceased the manufacture of photomasks at its Manchester, U.K., facility and, in connection therewith, incurred restructuring charges of $3.9 million through its completion in the fourth quarter of fiscal 2009, primarily for employee termination costs and asset write-downs. The Company, in fiscal 2009, also recorded an impairment charge of $1.5 million to reduce the carrying value of the Manchester facility to its estimated fair value, which was determined by management by using a market approach. Approximately 85 employees were affected by this restructuring. The following table sets forth the Company's 2009 restructuring reserve related to its Manchester, U.K., facility as of November 1, 2009, and reflects the activity affecting the reserve for the year then ended.

	Year Ended November 1, 2009
	November 3, 2008		Charges		Utilized			November 1, 2009
Employee terminations	$	-	$	2,375	$	(2,375	)	$	-
Asset write-downs and other		-		950		(950	)		-
	$	-	$	3,325	$	(3,325	)	$	-

Singapore Restructuring

In the first quarter of fiscal 2012 the Company ceased the manufacture of photomasks at its Singapore facility. The Company anticipates that the restructuring costs of this action will not exceed $2.5 million, all of which are expected to be incurred in fiscal 2012.