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Note 13 - Commitments and Contingencies
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12 Months Ended | ||||||||||||||||||||||||||||||||
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Dec. 30, 2012
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| Commitments and Contingencies Disclosure [Text Block] |
Operating
leases
The
Company leases office equipment, software and office space
under various non-cancellable operating leases. Minimum
future payments under non-cancellable operating lease
agreements are as follows:
Operating
lease expense for the periods ended December 30, 2012,
January 1, 2012 and January 2, 2011 was $1,869, $1,318 and
$1,140, respectively.
Certain
of the Company’s facility leases include renewal
options and normal escalation clauses. Renewal options are
included in the lease term if reasonably assured. Escalation
clauses are accounted for on a straight-line basis over the
lease term.
Purchase
Obligations
Purchase
obligations not recorded on the balance sheet as at December
30, 2012 consist of insurance installments of $300 to be paid
during calendar year 2013. Purchase obligations not recorded
on the balance sheet as at January 1, 2012 consist of
insurance installments of $164 to be paid during calendar
year 2012, and machinery and equipment of $886. As
at January 2, 2011, purchase obligations not recorded on the
balance sheet consist of insurance installments of $160 that
were paid during calendar year 2011, and commitments for
machinery and equipment of $998.
Contingencies
In
the normal course of business, the Company may be subject to
litigation and claims from customers, suppliers and former
employees. Management believes that adequate provisions have
been recorded in the accounts, where required. Although it is
not possible to estimate the extent of potential costs, if
any, management believes that the ultimate resolution of such
contingencies would not have a material adverse effect on the
financial position, results of operations and cash flows of
the Company.
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