RESTRUCTURING CHARGES

9 Months Ended

Sep. 30, 2011

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

Note 11 RESTRUCTURING CHARGES

              The following table summarizes the activity related to the accrual for restructuring charges detailed by event for the periods from January 1, 2011 to September 30, 2011 and January 1, 2010 to September 30, 2010.

		January 1, 2011 Accrual		Charges		Payments			Currency Translation Adjustment		March 31, 2011 Accrual		Charges		Payments			Currency Translation Adjustment		June 30, 2011 Accrual		Charges		Payments			Foreign Exchange (Gain)/Loss			September 30, 2011 Accrual
		(in thousands)
Third quarter of 2002
	Termination of contract with supplier	$	1,592	$	-	$	-		$	-	$	1,592	$	-	$	-		$	-	$	1,592	$	-	$	-		$	-		$	1,592	(2)
Second quarter of 2008
	Employee termination costs		3		-		-			-		3		-		-			-		3		-		-			-			3
Third quarter of 2008
	Employee termination costs		460		-		-			16		476		-		-			11		487		-		(12	)		-			475
First quarter of 2009
	Other restructuring charges		136		-		(45	)		-		91		-		(46	)		-		45		-		(45	)		-			-
Second quarter of 2010
	Employee termination costs		1,286		21,210		(1,972	)		735		21,259		-		(3,428	)		430		18,261		-		(1,808	)		(1,166	)		15,287
Total 2011 activity		$	3,477	$	21,210	$	(2,017	)	$	751	$	23,421	$	-	$	(3,474	)	$	441	$	20,388	$	-	$	(1,865	)	$	(1,166	)	$	17,357	(1)

(1)

Accrued restructuring charges are classified within accrued and other liabilities on the condensed consolidated balance sheets and are expected to be paid prior to September 30, 2012.

(2)

Relates to a contractual obligation, which is currently subject to litigation.

		January 1, 2010 Accrual		Charges		Payments			Currency Translation Adjustment			March 31, 2010 Accrual		Charges		Payments			Currency Translation Adjustment			June 30, 2010 Accrual		Charges		Payments			Currency Translation Adjustment		September 30, 2010 Accrual
		(in thousands)
Third quarter of 2002
	Termination of contract with supplier	$	1,592	$	-	$	-		$	-		$	1,592	$	-	$	-		$	-		$	1,592	$	-	$	-		$	-	$	1,592
Second quarter of 2008
	Employee termination costs		4		-		-			(1	)		3		-		-			-			3		-		-			-		3
Third quarter of 2008
	Employee termination costs		557		-		-			(37	)		520		-		-			(30	)		490		-		-			20		510
First quarter of 2009
	Employee termination costs		-		969		(398	)		-			571		11		(184	)		(39	)		359		6		(201	)		7		171
	Other restructuring charges		318		-		(46	)		-			272		-		(45	)		-			227		-		(45	)		-		182
Second quarter of 2010			-		-		-			-			-		-					-			-
	Employee termination costs		-		-		-			-			-		1,603		-			(76	)		1,527		1,074		(1,888	)		77		790
Total 2010 activity		$	2,471	$	969	$	(444	)	$	(38	)	$	2,958	$	1,614	$	(229	)	$	(145	)	$	4,198	$	1,080	$	(2,134	)	$	104	$	3,248

2011 Restructuring Charges

              In the nine months ended September 30, 2011, the Company implemented cost reduction actions, primarily targeting reduction of labor costs. The Company did not incur restructuring charges in the three months ended September 30, 2011 and incurred restructuring charges of $21,210 in the nine months ended September 30, 2011 related to severance costs resulting from involuntary termination of 89 employees at the Company's Rousset, France subsidiary. Employee severance costs were recorded in accordance with the accounting standard related to costs associated with exit or disposal activities.

2010 Restructuring Charges

              In the three and nine months ended September 30, 2010, the Company incurred restructuring charges of $1,080 and $3,663, respectively, related to severance costs resulting from involuntary termination of employees. Employee severance costs were recorded in accordance with the accounting standard related to costs associated with exit or disposal activities.