Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v2.4.0.8
Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 29, 2013
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:
 
June 29,
2013
 
December 29,
2012
Appliances held for resale
$
13,885

 
$
17,768

Processed metals from recycled appliances held for resale
304

 
188

Less provision for inventory obsolescence
(149
)
 
(682
)
 
$
14,040

 
$
17,274

Schedule of property and equipment
We provide estimated provisions for the obsolescence of our appliance inventories, including adjustments to market, based on various factors, including the age of such inventory and our management’s assessment of the need for such provisions.  We look at historical inventory agings and margin analysis in determining our provision estimate.  A revised cost basis is used once a provision for obsolescence is recorded.

Property and equipment:  Property and equipment consists of the following:
 
June 29,
2013
 
December 29,
2012
Land
$
1,140

 
$
1,140

Buildings and improvements
3,273

 
3,429

Equipment (including computer software)
20,258

 
20,158

Projects under construction
63

 
63

 
24,734

 
24,790

Less accumulated depreciation and amortization
(13,006
)
 
(12,542
)
 
$
11,728

 
$
12,248

Schedule of warranty accrual
Changes in our warranty accrual are as follows:
 
Three Months Ended
 
Six Months Ended
 
June 29,
2013
 
June 30,
2012
 
June 29,
2013
 
June 30,
2012
Beginning Balance
$
42

 
$
66

 
$
47

 
$
71

Standard accrual based on units sold
15

 
12

 
26

 
24

Actual costs incurred
(4
)
 
(4
)
 
(8
)
 
(8
)
Periodic accrual adjustments
(12
)
 
(13
)
 
(24
)
 
(26
)
Ending Balance
$
41

 
$
61

 
$
41

 
$
61

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:
 
Three Months Ended
 
Six Months Ended
 
June 29,
2013
 
June 30,
2012
 
June 29,
2013
 
June 30,
2012
Numerator:
 

 
 

 
 

 
 

Net income (loss) attributable to controlling interest
$
768

 
$
(641
)
 
$
952

 
$
(707
)
 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 

 
 

Weighted average shares outstanding — basic
5,556

 
5,555

 
5,556

 
5,546

Employee stock options
—

 
—

 
—

 
—

Stock warrants
153

 
—

 
140

 
—

Weighted average shares outstanding — diluted
5,709

 
5,555

 
5,696

 
5,546

 
 
 
 
 
 
 
 
Income (loss) per share:
 

 
 

 
 

 
 

Basic
$
0.14

 
$
(0.12
)
 
$
0.17

 
$
(0.13
)
Diluted
$
0.13

 
$
(0.12
)
 
$
0.17

 
$
(0.13
)