Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Interim Consolidated Financial Statement Details

v2.4.1.9
Note 4 - Interim Consolidated Financial Statement Details
3 Months Ended
Mar. 29, 2015
Disclosure Text Block Supplement [Abstract]  
Condensed Financial Statements [Text Block]

4.

Interim Consolidated financial statement details


The following consolidated financial statement details are presented as of the period ended for the consolidated balance sheets and for the periods ended for each of the consolidated statements of operations and comprehensive loss.


Consolidated Balance Sheets


Accounts receivable – net:


   

March 29,

2015

   

December 28,

2014

 

Accounts receivable

  $ 26,328     $ 31,354  

Allowance for doubtful accounts

    (268 )     (330 )

Accounts receivable—net

  $ 26,060     $ 31,024  

Inventories:


   

March 29,

2015

   

December 28,

2014

 

Raw materials

  $ 25,656     $ 25,973  

Work in process

    4,834       2,099  

Finished goods

    3,533       2,743  

Parts

    783       775  

Inventories

  $ 34,806     $ 31,590  

Inventories are recorded net of a provision for obsolescence as at March 29, 2015 and December 28, 2014 of $573 and $475 respectively.


 Property, plant and equipment – net:


   

March 29,

2015

   

December 28,

2014

 

Cost:

               

Land

  $ 1,648     $ 1,648  

Buildings

    9,878       9,878  

Machinery and equipment (a)

    31,983       31,592  

Office furniture and equipment

    1,697       1,690  

Computer hardware and software (b)

    6,002       5,930  

Leasehold improvements (c)

    2,476       2,456  
      53,684       53,194  

Less accumulated depreciation:

               

Land

           

Buildings

    (7,394 )     (7,275 )

Machinery and equipment (a)

    (21,175 )     (20,545 )

Office furniture and equipment

    (1,547 )     (1,513 )

Computer hardware and software (b)

    (4,948 )     (4,774 )

Leasehold improvements (c)

    (1,566 )     (1,497 )
      (36,630 )     (35,604 )

Property, plant and equipment—net

  $ 17,054     $ 17,590  

(a)

Included within machinery and equipment were assets under capital leases with costs of $3,153 and $3,495 and associated accumulated depreciation of $875 and $916 as of March 29, 2015 and December 28, 2014, respectively. The related depreciation expense for the three months ended March 29, 2015 and March 30, 2014 were $124 and $171, respectively.


(b)

Included within computer hardware and software were assets under capital leases with costs of $359 and $498 and associated accumulated depreciation of $297 and $417 as at March 29, 2015 and December 28, 2014, respectively. The related depreciation expense for the three months ended March 29, 2015 and March 30, 2014 were $19 and $40, respectively.


(c)

Included within leasehold improvements were assets under capital leases with costs of Nil and $73 and associated accumulated depreciation of Nil and $42 as of March 29, 2015 and December 28, 2014, respectively. The related depreciation expense was $2 and $4 for the three months ended March 29, 2015 and March 30, 2014, respectively.


Deferred financing fees:


   

March 29,

2015

   

December 28,
201
4

 

Deferred financing fees

  $ 1,290     $ 1,290  

Accumulated amortization

    (1,208 )     (1,200 )
    $ 82     $ 90  

Accrued liabilities: 


   

March 29,

2015

   

December 28,

2014

 

Customer related

  $ 2,921     $ 2,074  

Payroll

    3,684       4,014  

Professional services

    298       395  

Vendor related

    157       29  

Other

    364       568  

Accrued liabilities

  $ 7,424     $ 7,080  

Consolidated Statements of Operations and Comprehensive Loss


Interest expense:


   

Three months ended

 
   

March 29,

2015

   

March 30,

2014

 

Revolving credit facility

    260       263  

Amortization of deferred financing fees

    8       104  

Obligations under capital leases

    42       27  

Interest expense

  $ 310     $ 394