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CASUALTY LOSS
9 Months Ended
Sep. 30, 2011
CASUALTY LOSS [abstract] 
CASUALTY LOSS
CASUALTY LOSS
 
On September 27, 2010, the Company’s French subsidiary, CXR AJ, sustained significant damage to a portion of the building comprising its Abondant, France facility as a result of a fire.  The portion of the building damaged, which was fully depreciated at the time of the fire, was primarily used for component parts storage.  Virtually all of the component parts that were on-site were destroyed in the fire.  CXR AJ’s main operating facility, which includes administration, finance, sales and engineering, was not damaged by the fire.  Immediately after the fire, CXR AJ’s insurer was on-site evaluating the damage.  CXR AJ maintains adequate insurance coverage for such events and it anticipates that any business interruption impact will be recoverable under the insurance policy.
 
Subsequent to the fire, the Company recorded an impairment for the component parts inventory destroyed by the fire of €0.8 million (approximately $1.1 million).  As the CXR AJ insurance policy covers this inventory amount and the insurance company has confirmed that this inventory is covered under at least net value, the Company recorded a receivable for the same amount as the impairment loss.  The insurance company has provided total advances of funds of €950,000, the majority of which were applied towards replacement of the component parts that were destroyed by the fire and were applied to the receivable. During the third quarter of 2011, work began on repairing the damage to the building. A portion of the advance of funds received was used to offset the cost of these repairs and the remaining advance of funds of approximately €70,000 is recorded as other income in the statement of operations for the three and nine months ended September 30, 2011.  We continue to work with our local insurance company to finalize valuation and settlement of our claims related to business interruption and building construction.