Pension Liability

6 Months Ended

Jun. 30, 2012

Pension Liability [Abstract]

PENSION LIABILITY

NOTE J—PENSION LIABILITY

The information in this note represents the net periodic pension and post-retirement benefit costs and related components in accordance with FASB ASC No. 715 “Employers’ Disclosures about Pensions and Other Postretirement Benefits.” The components of net pension and post-retirement periodic benefit cost (income) for the six months ended June 30, 2012 and 2011 are as follows (in thousands):

	June 30, 2012			June 30, 2011
Components of net periodic benefit cost
Service cost	$	56		$	137
Interest cost		24			41
Expected return on plan assets		(3	)		(28	)
Curtailment gain (1)		—			(660	)
Net periodic benefit cost (income)	$	77		$	(510	)

(1) The curtailment gain is derived from the closure of the Swiss facilities and the termination of employment of the employees of the Company’s Swiss subsidiary, which resulted in a curtailment and settlement of the Swiss pension plan.

The net pension liability as of June 30, 2012 amounted to $811.