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Note 4 - Restructuring Charges
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3 Months Ended | ||
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Mar. 31, 2015
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| Notes to Financial Statements | |||
| Restructuring and Related Activities Disclosure [Text Block] |
In March 2015, the Company announced that it will consolidate all major business functions into its Irvine, California headquarters. In connection with this consolidation, the Company will close its Memphis, Tennessee office in May 2015. The Company will not retain any of its Memphis-based employees. A total of seven employees have been or will be impacted by the consolidation, including three executives of the Company. In connection with this consolidation, the Company recorded restructuring charges of $753,400. Approximately $718,000 of the restructuring charge relates to costs associated with severance and other compensation for the impacted employees. Most of the amount recorded as a restructuring charge is expected to be paid during the quarter ended June 30, 2015. |
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- Details
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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