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SUBSEQUENT EVENTS
6 Months Ended
Jun. 29, 2013
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

 

During a severe thunderstorm on Thursday, July 25, 2013, heavy precipitation caused a portion of the roof to collapse at our Prescott, Arizona manufacturing facility. A significant amount of water entered the building and production was shut down. No one was injured. Temporary repairs were completed over the weekend and signed off by the structural engineers, which allowed production to resume on Monday, July 29, 2013. We expect the cost of the repairs to the building and equipment, plus the value of the lost production to be less than $5 million.

 

On July 30, 2013, Board of Directors authorized a dividend of 65¢ per share, for shareholders of record as of August 16, 2013, payable on August 30, 2013.

 

The Company has evaluated events and transactions occurring subsequent to June 29, 2013 and determined that there were no other such events or transactions that would have a material impact on the Company's results of operations or financial position.