Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v2.4.0.6
Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 29, 2012
Accounting Policies [Abstract]  
Schedule of inventories, consisting principally of appliances, are stated at the lower of cost, determined on a specific identification basis, or market
Inventories:  Inventories, consisting principally of appliances, are stated at the lower of cost, determined on a specific identification basis, or market and consist of the following as of December 29, 2012, and December 31, 2011: 
 
December 29,
2012
 
December 31,
2011
Appliances held for resale
$
17,768

 
$
18,291

Processed metals to be sold from recycled appliances
188

 
250

Less provision for inventory obsolescence
(682
)
 
(85
)
 
$
17,274

 
$
18,456

Schedule of property and equipment
Property and equipment consists of the following as of December 29, 2012, and December 31, 2011:
 
Useful Life (Years)
 
December 29,
2012
 
December 31,
2011
Land
—
 
$
1,140

 
$
1,140

Buildings and improvements
18-30
 
3,429

 
3,303

Equipment (including computer software)
3-15
 
20,158

 
19,472

Projects under construction
—
 
63

 
35

 
 
 
24,790

 
23,950

Less accumulated depreciation and amortization
 
 
(12,542
)
 
(11,415
)
 
 
 
$
12,248

 
$
12,535

Schedule of Goodwill
The changes in the carrying amount of goodwill from January 1, 2011, until December 29, 2012, are as follows:
 
Recycling
Segment
Balance as of January 1, 2011
$
1,120

Impairment charge
—

Balance as of December 31, 2011
1,120

Impairment charge
(1,082
)
Balance as of December 29, 2012
$
38

Schedule of warranty accrual
Changes in our warranty accrual, included in accrued expenses on the consolidated balance sheets, for the fiscal years ended December 29, 2012, and December 31, 2011, are as follows:
 
For the fiscal year ended
 
December 29,
2012
 
December 31,
2011
Beginning Balance
$
71

 
$
36

Standard accrual based on units sold
43

 
97

Actual costs incurred
(16
)
 
(16
)
Periodic accrual adjustments
(51
)
 
(46
)
Ending Balance
$
47

 
$
71

Schedule of reconciliation of the denominator in the basic and diluted income or loss per share
A reconciliation of the denominator in the basic and diluted income or loss per share is as follows:
 
For the fiscal year ended
 
December 29,
 
December 31,
 
2012
 
2011
Numerator:
 
 
 
Net income (loss) attributable to controlling interest
$
(3,852
)
 
$
4,461

Denominator:
 
 
 

Weighted average common shares outstanding - basic
5,551

 
5,497

Employee stock options
—

 
112

Stock warrants
—

 
212

Weighted average common shares outstanding - diluted
5,551

 
5,821

 
 
 
 
Income (loss) per common share:
 

 
 

Basic
$
(0.69
)
 
$
0.81

Diluted
$
(0.69
)
 
$
0.77