Note 5 - Restructuring Charges

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

(5)

      

Restructuring Charges

In late

2015,

the Board of Directors of the Company recommended that management evaluate strategic alternatives for Zenara due to a change in focus on higher growth initiatives as well as to reduce attention required by senior management to operate Zenara.

As a result of that evaluation, Cambrex management, with Board authority, committed to a plan to sell Zenara.

On

January

30,

2017,

the Company transferred the assets and liabilities of Zenara to the buyer for consideration of approximately

$3,000,

which is held in escrow and recorded in current assets as part of “Other receivables.” The sales agreement gives the buyer complete control of the daily operations of Zenara. The proceeds will be released from escrow upon approval by Indian regulatory authorities which could take several months. Accordingly, as of

January

30,

2017,

the Company no longer includes Zenara in its reported results.

For the

three

months ended

March

31,

2016,

the Company recorded expense of approximately

$300

within “Selling, general and administrative expenses” for restructuring. Results of operations of Zenara were immaterial for the

three

months ended

March

31,

2017.