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Note 11 - Fire at Manufacturing Facility
12 Months Ended
Dec. 31, 2014
Note 11 - Fire At Manufacturing Facility  
Note 11 - Fire at Manufacturing Facility

Note 11 - Fire at Manufacturing Facility

 

In June 2011, we experienced a fire that damaged certain inventory and machinery and equipment at our facility in China. The fire occurred after business hours and was fully extinguished quickly with no injuries, and the plant was back in full operation shortly thereafter with no significant disruption in supply or service to customers. We maintain adequate insurance coverage for this operation.

 

The total amount of the loss pertaining to assets and the related expenses was approximately $1,589, including damaged inventory, business interruption and lost profits. Previous payments received against the loss claim total approximately $1,286, and no gain or loss has been recognized upon receipt of these partial payments. As of December 31, 2014, we reflect a receivable from the insurance company relating to this claim of $184, which is net of our deductible of approximately $132, and represents additional proceeds we expect to receive when the insurer finalizes the claim.