Derivatives and Other Financial Instruments

12 Months Ended

Dec. 31, 2011

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Other Financial Instruments

14. Derivatives and Other Financial Instruments
The Company has exposure to certain risks relating to its ongoing business operations, including financial, market, political and economic risks. The following discussion provides information regarding our exposure to the risks of changing foreign currency exchange rates. The Company has not entered into these contracts for trading or speculative purposes in the past, nor do we currently anticipate entering into such contracts for trading or speculative purposes in the future. The foreign exchange contracts are used to mitigate uncertainty and volatility, and to cover underlying exposures.

Foreign Currency Forward Contracts

We manage the risk of changes in foreign currency exchange rates, primarily at our Malaysian operation, through the use of foreign currency contracts. Foreign exchange contracts are used to protect the Company from the risk that the eventual cash flows resulting from transactions in foreign currencies, including sales and purchases transacted in a currency other than the functional currency, will be adversely affected by changes in exchange rates. We report the fair value of the derivatives on our consolidated balance sheet and changes in the fair value are recognized in earnings in the period of the change.

The following table summarizes the gross fair market value of all derivative instruments, which are not designated as hedging instruments and their location in our Consolidated Balance Sheet:

	(In thousands)
	Asset Derivatives
			December 31,		December 31,
Derivative Instrument	Location		2011		2010
Foreign Currency Exchange Contracts	Other Current Assets	$	16	$	11
		$	16	$	11

The following table summarizes the impact of the Company’s derivatives on the consolidated financial statements of operations for the three and twelve month periods ended December 31, 2011 and 2010:

(In thousands)			Amount of Gain (Loss) Recognized in Operations
		Location of Gain	Three Months Ended				Twelve Months Ended
		(Loss) on Derivative	December 31,				December 31,
Derivative Instrument		Instrument	2011		2010		2011		2010
		Other Income (Expense):
	Foreign Currency	(Gain) loss on foreign
	Exchange Contracts	currency exchange rate	16		11		(69)		154
			$	16	$	11	$	(69)	$	154