Quarterly report pursuant to Section 13 or 15(d)

Restructuring

v3.5.0.2
Restructuring
9 Months Ended
Sep. 30, 2016
Restructuring [Abstract]  
Restructuring

NOTE 13.  RESTRUCTURING



The Company initiated a restructuring plan in the fourth quarter of 2014 (“2014 Restructuring Plan”) to realign resources within the organization and anticipates completing the plan in 2016.  During the three months ended September 30, 2016 and 2015, we incurred restructuring charges of $0 and $427, respectively, related to the 2014 Restructuring Plan.  During the nine months ended September 30, 2016 and 2015, we incurred restructuring charges of $20 and $2,303, respectively.  We have incurred $5,959 of cumulative restructuring charges since the commencement of the 2014 Restructuring Plan.  We estimate that we will incur restructuring costs related to other exit costs during the remainder of 2016.



As part of the conclusion of the Company’s review of strategic alternatives, the Company initiated restructuring activities in efforts to further realign resources within the organization (“2015 Restructuring Plan”) and anticipates completing the plan in 2016.  During the three months ended September 30, 2016 and 2015, we incurred restructuring charges of $282 and $269, respectively, related to the 2015 Restructuring Plan.  During the nine months ended September 30 2016 and 2015, we incurred restructuring charges of $1,255 and $269, respectively.  We have incurred $2,274 of cumulative restructuring charges since the commencement of the 2015 Restructuring Plan.



The following table summarizes the restructuring charges, payments and the remaining accrual related to employee termination costs and facility exit costs.







 

 

 

 

 

 

 

 

 



 

2014 Restructuring Plan

 

2015 Restructuring Plan

 

Total Restructuring

Balance at December 31, 2015

 

$

162 

 

$

460 

 

$

622 

Charges to expense:

 

 

 

 

 

 

 

 

 

Employee termination benefits

 

 

20 

 

 

616 

 

 

636 

Other costs

 

 

 -

 

 

639 

 

 

639 

Total restructuring charges

 

 

20 

 

 

1,255 

 

 

1,275 

Cash payments and non-cash charges:

 

 

 

 

 

 

 

 

 

Cash payments

 

 

(83)

 

 

(1,625)

 

 

(1,708)

Balance at September 30, 2016

 

$

99 

 

$

90 

 

$

189 



As of September 30, 2016, termination costs and restructuring costs remained in accrued liabilities and are expected to be paid during the remainder of 2016.