Note 7 - Other (Income), Net

6 Months Ended

Jul. 05, 2020

(

)

Other (Income), Net

The Company completed the sale of the Broadway Plant real estate for

$1,700,000

and other idle assets for

$268,000

and recognized net gains of

$958,000

during the

six

months ended

July 5, 2020,

which is included in other income net on the Company's consolidated income statements. Additionally, the Company recognized pension expense of

$402,000

and foreign currency related expense of

$83,000.

During the

three

and

six

months ended

June 30, 2019,

the Company recognized a gain of

$1,500,000

as a result of a settlement agreement with

one

of its customers to resolve various outstanding disputes between the

two

parties. As a result of the agreement, the customer agreed to pay the Company

$1,500,000

in compensation. This amount was subsequently received in

July 2019.

Additionally, the Company recognized a net gain of

$477,000

for the

six

months ended

June

30,

2019

related to the sale of idle assets, which was offset by pension expense of

$495,000.