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Restructuring

3 Months Ended

Mar. 31, 2013

9. Restructuring

In 2009, the Company restructured its business operations to rationalize its cost structure in an uncertain economic environment. The restructuring included plans for the relocation and consolidation of its Ellicottville, New York operations into its Texas facility. This planned relocation resulted in severance and payroll charges during the year ended December 31, 2009 of approximately $264,000. At March 31, 2013, the balance remaining of such payments was $13,500, and the Company expects to make such payments before June 30, 2013.

In 2012, the Company commenced the Ellicottville relocation, resulting in the realization of expense for discontinued inventory, severance and professional fees to complete the move. As a result, the Company recorded a restructuring charge in 2012 of approximately $283,900.

Accrued restructuring expenses of approximately $13,500 are included in “Other accrued expenses” in the Company’s consolidated balance sheet as of March 31, 2013, while the increase to inventory obsolescence is included in “Inventory reserve.”

The following table analyzes the changes in the Company’s reserve with respect to the restructuring plan for the three months ended March 31, 2013:


	December 31, 2012		Expense		Payment/Charges			March 31, 2013
Severance	$	27,900		—	$	(14,400	)	$	13,500
Inventory		89,000		—		—			89,000
Other		12,000		—	$	(12,000	)		—

Total	$	128,900		—	$	(26,400	)	$	102,500

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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