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General
6 Months Ended
Jun. 30, 2011
General  
General

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General

 

 

 

In the opinion of management, the accompanying consolidated condensed financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly IntriCon Corporation's ("IntriCon" or the "Company") consolidated financial position as of June 30, 2011 and December 31, 2010, and the consolidated results of its operations for the three and six months ended June 30, 2011 and 2010. Results of operations for the interim periods are not necessarily indicative of the results of the operations expected for the full year or any other interim period.

 

 

 

The Company has evaluated subsequent events occurring after the date of the consolidated financial statements for events requiring recording or disclosure in the financial statements. To expand its low cost manufacturing presence in Asia, the Company entered into a lease agreement for a new manufacturing facility in Batam, Indonesia. The Company will initially occupy approximately 15 square feet, with the option to expand to 30 square feet. The new lease agreement includes a five year term, which commenced in July 2011, with monthly rental payments ranging from approximately $4 to $13 over the term of the lease based on square footage utilized.