Document And Entity Information
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6 Months Ended | |
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Jun. 30, 2013
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Aug. 02, 2013
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | ULTRALIFE CORP | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 17,458,977 | |
Amendment Flag | false | |
Entity Central Index Key | 0000875657 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Jun. 30, 2013 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q2 |
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It includes the amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease and the aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
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Condensed Consolidated Balance Sheets (Parentheticals) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jun. 30, 2013
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Dec. 31, 2012
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Trade accounts receivable, allowance for doubtful accounts (in Dollars) | $ 305 | $ 322 |
Preferred stock, par value (in Dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value (in Dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 18,831,734 | 18,828,734 |
Treasury stock, shares | 1,372,757 | 1,372,757 |
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Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2013
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Jul. 01, 2012
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Jun. 30, 2013
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Jul. 01, 2012
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Amortization of Intangible Assets | $ 98 | $ 125 | $ 199 | $ 250 |
Research And Development [Member]
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Amortization of Intangible Assets | 55 | 65 | 111 | 130 |
Selling General And Administrative [Member]
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Amortization of Intangible Assets | $ 43 | $ 60 | $ 88 | $ 120 |
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Note 1 - Basis of Presentation
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6 Months Ended | ||
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Jun. 30, 2013
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Disclosure Text Block [Abstract] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
The
accompanying unaudited Condensed Consolidated Financial
Statements of Ultralife Corporation and subsidiaries have
been prepared in accordance with generally accepted
accounting principles in the United States of America
(“GAAP”) for interim financial information and
with the instructions to Rule 8-03 of Regulation
S-X. Accordingly, they do not include all of the
information and footnotes for complete financial
statements. In the opinion of management, all
adjustments (consisting of normal recurring accruals and
adjustments) considered necessary for a fair presentation of
the Condensed Consolidated Financial Statements have been
included. Results for interim periods should not
be considered indicative of results to be expected for a full
year. Reference should be made to the Consolidated
Financial Statements and related notes thereto contained in
our Form 10-K for the twelve month period ended December 31,
2012.
The
year-end condensed consolidated balance sheet data was
derived from audited financial statements, but does not
include all disclosures required by GAAP.
Certain
items previously reported in specific financial statement
captions have been reclassified to conform to the current
presentation.
Our
monthly closing schedule is a 4/4/5 weekly-based cycle for
each fiscal quarter, as opposed to a calendar month-based
cycle for each fiscal quarter. While the actual
dates for the quarter-ends will change slightly each year, we
believe that there are not any material differences when
making quarterly comparisons.
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Note 2 - Dispositions and Exit Activities
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
Ultralife
Batteries UK, Ltd.
During
the fourth quarter of 2012, we elected not to renew the lease
for our U.K. manufacturing facility which expired on March
24, 2013 (the “U.K. Facility Lease”), and instead
relocated our sales and services operations to a smaller
facility. As a result of this decision, we were required to
restore the facility back to its original condition pursuant
to the terms of the U.K. Facility Lease.
The
costs associated with the lease exit were not determinable
until late in the fourth quarter of 2012. Accordingly, we
recorded a liability as of the end of 2012 for our estimate
of the costs to return the facility to its original condition
as well as other related expenses. A total of $228 was
charged to selling, general, and administrative costs related
to operations transferred to our facilities in Newark, NY,
and an additional $815 was recorded as discontinued
operations for those operations that were not transferred to
our facilities in Newark, NY. The termination of the U.K.
Facility Lease did not result in any employee reductions or
other termination costs, with the exception of the
aforementioned restoration costs.
As
a result, the results of presentation herein exclude the
discontinued Ultralife Batteries UK, Ltd. operations from the
results of continuing operations. The following
amounts have been reported as discontinued operations for the
three and six month periods ending June 30, 2013 and July 1,
2012:
The
cost of returning our former UK facility back to its original
condition was less than our estimate of the cost made during
the fourth quarter of 2012. As a result, we recognized the
difference as a gain from discontinued operations during the
first quarter of 2013.
RedBlack
Communications, Inc.
On
February 16, 2012, we announced our intention to divest our
RedBlack Communications, Inc. (“RedBlack”)
business in 2012. RedBlack was a wholly owned subsidiary of
ours based in Hollywood, Maryland, that designed, integrated
and fielded mobile, modular and fixed site communication and
electronic systems. We determined that RedBlack offered
limited opportunities to achieve the operating thresholds of
our business model.
On
September 28, 2012 (the “Closing Date”), we
entered into and closed a Stock Purchase Agreement (the
“Agreement”) to sell 100% of our capital stock in
RedBlack to BCF Solutions, Inc. In exchange for the
sale of RedBlack, we received $2,533 as a purchase price,
comprised of cash at closing in the amount of $2,133, funds
held in escrow for up to one year in the amount of $250, as
well as $150 to be available for RedBlack employee retention
programs. In addition, there was a customary
post-closing working capital adjustment to the purchase price
of $125, partially offset by other adjustments, that resulted
in a loss of $118 that was recorded in the second quarter of
2013.
The
Agreement contains customary representations and warranties
that will survive the Closing Date for a period of two or
three years. The Agreement also contains customary
indemnification for breaches of the representations and
warranties contained in the Agreement.
The
Agreement contains restrictive covenants that continue for
two years from the Closing Date, under which we are
prohibited from engaging or participating with any current
customer of RedBlack in any business, directly or indirectly,
that competes with the business conducted by RedBlack for two
years. We are also prohibited from hiring,
soliciting, or recruiting any current employee, independent
contractor, or consultant of BCF Solutions, Inc. or RedBlack
for two years.
Commencing
with the first quarter of 2012, the results of the RedBlack
operations and related divestiture costs have been reported
as a discontinued operation.
As
a result, the presentation of results herein excludes the
RedBlack operations from the results of continuing
operations. The following amounts have been
reported as discontinued operations for the three and six
month periods ended June 30, 2013 and July 1, 2012:
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Note 3 - Inventories
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Jun. 30, 2013
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Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Text Block] |
Inventories
are stated at the lower of cost or market with cost
determined under the first-in, first-out
(FIFO) method. The composition of inventories was:
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Note 4 - Property, Plant and Equipment
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Jun. 30, 2013
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] |
Major
classes of property, plant and equipment consisted of the
following:
Depreciation
expense for property, plant and equipment was $729 and $1,559
for the three and six month periods ended June 30, 2013,
respectively, and $824 and $1,660 for the three and six month
periods ended July 1, 2012, respectively.
In
the second quarter of 2013, we received a termination notice
from the New York State Energy Research and Development
Authority (“NYSERDA”) regarding our collaborative
agreement to develop and demonstrate a large hybrid
grid-connected energy storage system. Pursuant to the terms
of the agreement, NYSERDA will reimburse us for certain
construction and project research and development costs
incurred through the date of termination. Construction costs
are reflected in the property, plant and equipment, net line
on our Condensed Consolidated Balance Sheets as of June 30,
2013 and December 31, 2012. Project research and development
costs are reflected in the research and development line on
our Condensed Consolidated Statements of Comprehensive Income
(Loss) the three and six month periods ended June 30, 2013
and July 1, 2012.
We
plan to continue this project internally with smaller form
batteries which provide greater opportunity and applicability
in the markets we serve. However, due to the termination
letter and the change in scope of the project, we performed a
review of the details of costs capitalized in connection with
this project to determine their future use. Those costs
without an identifiable future use were written off in the
second quarter of 2013 and totaled $56. The remaining
capitalized costs were subjected to an impairment test based
upon forecasted future cash flows, in accordance with current
accounting guidance. No impairment was taken on the remaining
capitalized costs.
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Note 5 - Goodwill, Intangible Assets and Long Term Assets
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] |
a.
Goodwill
The
following table summarizes the goodwill activity by segment
for the three month periods ended June 30, 2013 and July 1,
2012:
b.
Intangible Assets
The composition
of intangible assets was:
Amortization
expense for intangible assets was $98 and $199 for the three
and six month periods ended June 30, 2013, respectively, and
$125 and $250 for the three and six month periods ended July
1, 2012, respectively.
The
change in the cost value of total intangible assets from
December 31, 2012 to June 30, 2013 is a result of the effect
of foreign currency translations.
c.
Long-Term Assets
In
the first quarter of this year, we had a sale to a customer
of our Communications Systems segment of which $2,031, net of
interest, had a payment term of greater than one year. This
sale was in order to facilitate this customer’s ability
to support a soldier modernization initiative. We expect this
receivable to be fully collected within two years. Currently
$1,174 is classified as long-term.
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No authoritative reference available. No definition available.
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Note 6 - Debt
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Jun. 30, 2013
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Debt Disclosure [Abstract] | |||||||||||||||
Debt Disclosure [Text Block] |
On
May 24, 2013, we entered into a Revolving Credit, Guaranty
and Security Agreement (the “Credit Agreement”)
and related security agreements with PNC Bank, National
Association (“PNC”) to establish a $20 million
secured asset-based revolving credit facility that includes a
$1 million letter of credit subfacility (the “Credit
Facility”). The Credit Agreement provides
that the Credit Facility may be increased with the
PNC’s concurrence to $35 million prior to the last six
months of the term and expires on May 24,
2017. The Credit Facility replaces the
our prior credit facility with RBS Business
Capital, a division of RBS Asset Finance, Inc., which expired
in accordance with its terms on May 15, 2013, with no debt
outstanding.
Our
available borrowing under the Credit Facility fluctuates from
time to time based on a borrowing base formula equal to the
sum of up to 85% of eligible accounts receivable plus the
least of (a) up to 65% of the eligible inventory and eligible
foreign in-transit inventory, (b) up to 85% of the appraised
net orderly liquidation value of eligible inventory and
eligible foreign in-transit inventory, and (c) $7.5 million,
in each case subject to the definitions in the Credit
Agreement and reserves required by PNC.
Interest
will accrue on outstanding indebtedness under the Credit
Agreement at the alternate base rate,
as defined within the Credit Agreement, plus the
applicable margin or at the one, two or three month LIBOR
rate plus the applicable margin as selected by the Company
and listed below.
We
must pay a fee on its unused availability of 0.375% per annum
and customary letter of credit fees in addition to various
collateral monitoring and related fees and expenses.
In
addition to customary affirmative and negative covenants, we
must maintain a fixed charge coverage ratio as defined in the
Credit Agreement of 1:15 to 1:00 tested quarterly for the
four-quarters then ended. As of June 30, 2013, we
were in compliance with all covenants. The Credit Facility is
secured by substantially all our assets.
Any
outstanding advances must be repaid upon expiration of the
term of the Credit Facility. Payments must be made
during the term to the extent outstanding advances exceed the
maximum amount then permitted to be drawn as advances under
the Credit Facility and from the proceeds of certain
transactions. Upon the occurrence of an event of
default, the outstanding obligations may be accelerated and
PNC will have other customary remedies.
As
of June 30, 2013, we had $-0- outstanding under the Credit
Facility, an applicable interest rate of 2.20%, approximately
$13,227 of borrowing capacity in addition to our unrestricted
cash on hand of $11,158, and no outstanding letters of credit
related to this facility.
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No authoritative reference available. No definition available.
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Note 7 - Shareholders' Equity
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Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] |
a.
Treasury Stock
At June 30, 2013
and December 31, 2012, we had 1,372,757 shares of treasury
stock valued at $7,658.
b.
Stock Options
We
have various stock-based employee compensation plans, for
which we follow the provisions of the Financial Accounting
Standards Board’s (“FASB”) guidance on
share-based payments, which requires that compensation cost
relating to share-based payment transactions be recognized in
the financial statements. The cost is measured at
the grant date, based on the fair value of the award, and is
recognized as an expense over the employee’s requisite
service period (generally the vesting period of the equity
award).
Our
shareholders have approved various equity-based plans that
permit the grant of stock options, restricted stock and other
equity-based awards. In addition, our shareholders have
approved certain grants of stock options outside of these
plans.
In
June 2004, shareholders adopted the 2004 Long-Term Incentive
Plan (“LTIP”) pursuant to which we were
authorized to issue up to 750,000 shares of common stock and
grant stock options, restricted stock awards, stock
appreciation rights and other stock-based
awards. Through shareholder approved amendments to
the LTIP in 2006, 2008 and 2011, the total number of
authorized shares under the LTIP increased to
2,900,000.
Stock
options granted under the LTIP are either Incentive Stock
Options (“ISOs”) or Non-Qualified Stock Options
(“NQSOs”). Key employees are eligible
to receive ISOs and NQSOs; however, directors and consultants
are eligible to receive only NQSOs. Most ISOs vest over a
three- or five-year period and expire on the sixth or seventh
anniversary of the grant date. All NQSOs issued to
non-employee directors vest immediately and expire on either
the sixth or seventh anniversary of the grant
date. Some NQSOs issued to non-employees vest
immediately and expire within three years; others have the
same vesting characteristics as options issued to employees.
As of June 30, 2013, there were 2,119,538 stock options
outstanding under the LTIP.
On
December 19, 2005, we granted our former President and Chief
Executive Officer, John D. Kavazanjian, an option to purchase
48,000 shares of common stock at $12.96 per share outside of
any of our equity-based compensation plans, subject to
shareholder approval. Shareholder approval was
obtained on June 8, 2006. The stock option is
fully vested and expired on June 8, 2013.
On
March 7, 2008, in connection with his becoming employed by
us, we granted our Chief Financial Officer and Treasurer,
Philip A. Fain, an option to purchase 50,000 shares of common
stock at $12.74 per share outside of any of our equity-based
compensation plans. The stock option is fully
vested and expires on March 7, 2015.
On
December 30, 2010, pursuant to the terms of his employment
agreement, we granted our President and Chief Executive
Officer, Michael D. Popielec, options to purchase shares of
common stock under the LTIP as follows: (i) 50,000 shares at
$6.42, vesting in annual increments of 12,500 shares over a
four-year period commencing December 30, 2011; (ii) 250,000
shares at $6.42, vesting in annual increments of 62,500
shares over a four-year period commencing December 30, 2011;
(iii) 200,000 shares at $10.00, with vesting to begin on the
date the stock reaches a closing price of $10.00 per share
for 15 trading days within a 30-day trading period, with such
vesting in annual increments of 50,000 shares over the four
anniversary dates of that date; and (iv) 200,000 shares at
$15.00, with vesting to begin on the date the stock reaches a
closing price of $15.00 per share for 15 trading days within
a 30-day trading period, with such vesting in annual
increments of 50,000 shares over the four anniversary dates
of that date. All such options in items (i) and
(ii) shall expire on December 30, 2017. All such
options in items (iii) and (iv) shall expire as of the later
of December 30, 2017 or five years after the initial vesting
commences, but in no event later than December 30,
2020. The options set forth in items (ii), (iii)
and (iv) were subject to shareholder approval of an amendment
to the LTIP, which approval was obtained on June 7,
2011.
On
January 3, 2011, pursuant to the terms of his employment
agreement, we granted our President and Chief Executive
Officer, Michael D. Popielec, an option to purchase 50,000
shares of common stock at $6.58 under the
LTIP. The option vests in annual increments of
12,500 shares over a four-year period commencing December 30,
2011. The option expires on December 30,
2017.
In
conjunction with FASB’s guidance for share-based
payments, we recorded compensation cost related to stock
options of $200 and $390 for the three and six month periods
ended June 30, 2013 and $252 and $516 for the three and six
month periods ended July 1, 2012, respectively. As
of June 30, 2013, there was $917 of total unrecognized
compensation cost related to outstanding stock options, which
is expected to be recognized over a weighted average period
of 1.65 years.
We
use the Black-Scholes option-pricing model to estimate the
fair value of non-market performance stock-based
awards. The following weighted average assumptions
were used to value non-market performance stock options
granted during the six month periods ended June 30, 2013 and
July 1, 2012.
We
use a Monte Carlo simulation option-pricing model to estimate
the fair value of market performance stock-based
awards. There were no market performance stock
options granted during the six months ended June 30, 2013 and
July 1, 2012.
We
calculate expected volatility for stock options by taking an
average of historical volatility over the past five years and
a computation of implied volatility. The
computation of expected term was determined based on
historical experience of similar awards, giving consideration
to the contractual terms of the stock-based awards and
vesting schedules. The interest rate for periods
within the contractual life of the award is based on the U.S.
Treasury yield in effect at the time of grant.
Stock
option activity for the first six months of 2013 is
summarized as:
The
total intrinsic value of stock options (which is the amount
by which the stock price exceeded the exercise price of the
options on the date of exercise) exercised during the three
month period ended June 30, 2013 was $1.
FASB’s
guidance for share-based payments requires cash flows from
excess tax benefits to be classified as a part of cash flows
from financing activities. Excess tax benefits are
realized tax benefits from tax deductions for exercised stock
options in excess of the deferred tax asset attributable to
stock compensation costs for such stock
options. We did not record any excess tax benefits
in the first six months of 2013 and 2012. Cash
received from stock option exercises under our stock-based
compensation plans for the six month periods ended June 30,
2013 and July 1, 2012 was $12 and $115, respectively.
c.
Restricted Stock Units
On
January 29, 2013, we granted 120,000 contingent restricted
stock units to our President and Chief Executive Officer,
Michael D. Popielec, subject to shareholder approval, which
was obtained on June 4, 2013, which vest as follows: (i)
30,000 shares of our common stock will vest on the later of
January 1, 2014 or the date when our common stock first
reaches a closing price of $4.00 per share for 15 trading
days in a 30 trading day period; (ii) 30,000 shares of our
common stock will vest on the later of January 1, 2014 or the
date when our common stock first reaches a closing price of
$5.00 per share for 15 trading days in a 30 trading day
period; (iii) 30,000 shares of our common stock will vest on
the later of January 1, 2015 or the date when our common
stock first reaches a closing price of $4.00 per share for 15
trading days in a 30 trading day period; and (iv) 30,000
shares of our common stock will vest on the later of January
1, 2015 or the date when our common stock first reaches a
closing price of $5.00 per share for 15 trading days in a 30
trading day period.
The
restricted stock units described in (i) and (iii) had
achieved their closing price condition prior to shareholder
approval and were valued at the closing price on the date of
grant. The restricted stock units described in (ii) and (iv)
had not yet achieved their closing price conditions and were
valued utilizing a Monte Carlo simulation to determine fair
value and the derived service period. The weighted average
inputs utilized were:
The
restricted stock units had the following values:
The
activity of restricted stock units for the first six months
of 2013 is summarized below:
No
restricted stock was awarded during the six month period
ended July 1, 2012.
Compensation
cost recorded in our financial statements related to our
restricted stock units and restricted stock awards was $40
and $40 during the three and six month periods ended June 30,
2013, respectively, and $0 and $1 during the three and six
month periods ended July 1, 2012, respectively. There is $394
of unrecognized compensation cost related to restricted stock
units as of June 30, 2013.
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No authoritative reference available. No definition available.
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Note 8 - Income Taxes
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Jun. 30, 2013
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Text Block] |
The
asset and liability method, prescribed by FASB’s
guidance on the accounting for income taxes, is used in
accounting for income taxes. Under this method, deferred tax
assets and liabilities are determined based on differences
between financial reporting and tax basis of assets and
liabilities and are measured using the enacted tax rates and
laws that are expected to be in effect when the differences
are expected to reverse.
For
the three and six month periods ended June 30, 2013, we
recorded $53 and $151, respectively, in income tax
expense. For the three and six month periods ended
July 1, 2012, we recorded $171 and $262, respectively, for
income tax expense. The expense is primarily due to the
recognition of deferred tax liabilities generated from
goodwill and certain intangible assets that cannot be
predicted to reverse for book purposes during our loss
carryforward periods. The remaining expense in
2013 was primarily due to the income reported for our China
operations during the period.
Our
effective consolidated tax rates for the three and six month
periods ended June 30, 2013 and July 1, 2012 were:
The
overall effective tax rate is the result of the combination
of income and losses in each of our tax jurisdictions, which
is particularly influenced by the fact that we have not
recognized a deferred tax asset pertaining to cumulative
historical losses for our U.S. operations and our U.K.
subsidiary, as management does not believe, at this time, it
is more likely than not that we will realize the benefit of
these losses. We have substantial net operating
loss carryforwards which offset taxable income in the United
States. However, we remain subject to the
alternative minimum tax in the United States. The
alternative minimum tax limits the amount of net operating
loss available to offset taxable income to 90% of the current
year income. We incurred $0 and $12 in alternative
minimum tax for the three and six months ended June 30, 2013,
respectively. The alternative minimum tax did not have an
impact on income taxes determined for the three and six month
periods ended July 1, 2012. The payment of the
alternative minimum tax normally results in the establishment
of a deferred tax asset; however, we have established a
valuation allowance for our net U.S. deferred tax
asset. Therefore, the expected payment of the
alternative minimum tax does not result in a net deferred tax
asset.
As
of December 31, 2012, we had foreign and domestic net
operating loss carryforwards totaling approximately $58,030
available to reduce future taxable income. Foreign loss
carryforwards of approximately $12,390 can be carried forward
indefinitely. The domestic net operating loss carryforwards
of $48,549 expire from 2019 through 2032. The
domestic net operating loss carryforwards include
approximately $2,949 for which a benefit will be recorded in
capital in excess of par value when realized.
We have adopted
FASB’s guidance for the accounting for uncertainty in
income taxes. As a result of the implementation of
this guidance, there was no cumulative effect adjustment for
unrecognized tax benefits, which would have been accounted
for as an adjustment to retained earnings.
Our
unrecognized tax benefits related to uncertain tax positions
at June 30, 2013 relate to Federal and various state
jurisdictions. The following table summarizes the
activity related to our unrecognized tax benefits:
The
total unrecognized tax benefit balance at June 30, 2013 is
comprised of tax benefits that, if recognized, would result
in a deferred tax asset and a corresponding increase in our
valuation allowance. As a result, because the
benefit would be offset by an increase in the valuation
allowance, there would be no effect on the effective tax
rate.
We
are not required to accrue interest and penalties as the
unrecognized tax benefits have been recorded as a decrease in
our net operating loss carryforward. Interest and
penalties would begin to accrue in the period in which the
net operating loss carryforwards related to the uncertain tax
positions are utilized. We do not expect our
unrecognized tax benefits to change significantly over the
next twelve months.
As
a result of our operations, we file income tax returns in
various jurisdictions including U.S. federal, U.S. state and
foreign jurisdictions. We are routinely subject to
examination by taxing authorities in these various
jurisdictions. Our U.S. tax matters for the years
2000 through 2012 remain subject to examination by the
Internal Revenue Service (“IRS”) due to our net
operating loss carryforwards. Our U.S. tax
matters for the years 2000 through 2012 remain subject to
examination by various state and local tax jurisdictions due
to our net operating loss carryforwards. Our tax
matters for the years 2007 through 2012 remain subject to
examination by the respective foreign tax jurisdiction
authorities. The IRS has completed the examination
of our 2009 U.S. federal income tax return, with no resulting
material effect to our financial position or results of
operations.
We
have determined that changes in ownership, as defined under
Internal Revenue Code Section 382, occurred during 2005
and 2006. As such, the domestic net operating loss
carryforwards will be subject to an annual limitation
estimated to be in the range of approximately $12,000 to
$14,500. The unused portion of the annual
limitation can be carried forward to subsequent periods. We
believe such limitation will not impact our ability to
realize the deferred tax asset. The use of our
U.K. net operating loss carryforwards may be limited due to
the change in our U.K. operation during 2008 from a
manufacturing and assembly center to primarily a distribution
and service center.
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No authoritative reference available. No definition available.
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Note 9 - Earnings Per Share
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Text Block] |
We
have adopted the provisions of FASB’s guidance for
determining whether instruments granted in share-based
payment transactions are participating
securities. The guidance requires that all
outstanding unvested share-based payment awards that contain
nonforfeitable rights to dividends or dividend equivalents
(such as restricted stock awards granted by us) be considered
participating securities. Because restricted stock
awards are participating securities, we are required to apply
the two-class method of computing basic and diluted earnings
per share (the “Two-Class Method”).
Basic
earnings per share (“EPS”) is determined using
the Two-Class Method and is computed by dividing earnings
attributable to Ultralife common shareholders by the
weighted-average shares outstanding during the
period. The Two-Class Method is an earnings
allocation formula that determines earnings per share for
each class of common stock and participating security
according to dividends declared and participation rights in
undistributed earnings. Diluted EPS includes the
dilutive effect of securities, if any, and reflects the more
dilutive EPS amount calculated using the treasury stock
method or the Two-Class Method. For the three and
six month periods ended June 30, 2013 and July 1, 2012, both
the Two-Class Method and the treasury stock method
calculations for diluted EPS yielded the same result.
The
computation of basic and diluted earnings per share is
summarized as follows:
There
were 2,289,538 and 2,363,928 outstanding stock options and
awards at June 30, 2013 and July 1, 2012, respectively, that
were not included in the three month EPS calculation as the
effect would be anti-dilutive.
There
were 2,289,538 and 2,363,928 outstanding stock options
and awards at June 30, 2013 and July 1, 2012, respectively,
that were not included in the six month EPS calculation as
the effect would be anti-dilutive.
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- Definition
No authoritative reference available. No definition available.
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Note 10 - Commitments and Contingencies
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Jun. 30, 2013
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] |
a.
Purchase Commitments
As
of June 30, 2013, we have made commitments to purchase
approximately $461 of production machinery and
equipment.
b.
Product Warranties
We
estimate future costs associated with expected product
failure rates, material usage and service costs in the
development of our warranty obligations. Warranty
reserves are based on historical experience of warranty
claims and generally will be estimated as a percentage of
sales over the warranty period. In the event the
actual results of these items differ from the estimates, an
adjustment to the warranty obligation would be
recorded. Changes in our product warranty
liability during the first three months of 2013 were as
follows:
c.
Contingencies and Legal Matters
We
are subject to legal proceedings and claims that arise from
time to time in the normal course of business. We
believe that the final disposition of such matters, other
than the matters described below, will not have a material
adverse effect on our financial position, results of
operations or cash flows.
Government
Grants/Loans
In
conjunction with the City of West Point, Mississippi, we
applied for a Community Development Block Grant
(“CDBG”) from the State of Mississippi for
infrastructure improvements to our leased facility that is
owned by the City of West Point, Mississippi. The
CDBG was awarded and as of December 31, 2011, approximately
$480 has been distributed under the grant. Under
an agreement with the City of West Point, we agreed to employ
at least 30 full-time employees at the facility, of which 51%
of the jobs had to be filled or made available to low or
moderate income families, within three years of completion of
the CDBG improvement activities. In addition, we
agreed to invest at least $1,000 in equipment and working
capital into the facility within the first three years of
operation of the facility. While we have yet to
receive formal notice from the applicable government agency
confirming the closure of the grant, we believe that both of
these commitments were satisfied as of March 2011 and,
therefore, have not recorded an accrual with respect to any
potential liability for the grant amounts received under the
CDBG.
In
conjunction with Clay County, Mississippi, we applied for a
Mississippi Rural Impact Fund Grant (“RIFG”) from
the State of Mississippi for infrastructure improvements to
our leased facility that is owned by the City of West Point,
Mississippi. The RIFG was awarded and as of
December 31, 2011, approximately $150 has been distributed
under the grant. Under an agreement with Clay
County, we agreed to employ at least 30 full-time employees
at the facility, of which 51% of the jobs had to be filled or
made available to low or moderate income families, within two
years of completion of the RIFG improvement
activities. In September 2010, we received an
extension for this commitment to March 31,
2011. In addition, we agreed to invest at least
$1,000 in equipment and working capital into the facility
within the first three years of operation of the
facility. While we have yet to receive formal
notice from the applicable government agency confirming the
closure of the grant, we believe that both of these
commitments were satisfied as of March 2011 and, therefore,
have not recorded an accrual with respect to any potential
liability for the grant amounts received under the
RIFG.
Post
Audits of Government Contracts
We
had certain “exigent”, non-bid contracts with the
U.S. government, which were subject to audit and final price
adjustment, which resulted in decreased margins compared with
the original terms of the contracts. As of
December 31, 2012, there were no outstanding exigent
contracts with the U.S. government. As part of its
due diligence, the U.S. government has conducted post-audits
of the completed exigent contracts to ensure that information
used in supporting the pricing of exigent contracts did not
differ materially from actual results. In
September 2005, the Defense Contracting Audit Agency
(“DCAA”) presented its findings related to the
audits of three of the exigent contracts, suggesting a
potential pricing adjustment of approximately $1,400 related
to reductions in the cost of materials that occurred prior to
the final negotiation of these contracts. In
addition, in June 2007, we received a request from the Office
of Inspector General of the Department of Defense (“DoD
IG”) seeking certain information and documents relating
to our business with the Department of Defense. We
cooperated with the DCAA audit and DoD IG inquiry by making
available to government auditors and investigators our
personnel and furnishing the requested information and
documents. The DCAA Audit and DoD IG inquiry were
consolidated and the US Attorney’s Office represented
the government in connection with these
matters. Under applicable federal law, we may have
been subject up to treble damages and penalties associated
with the potential pricing adjustment. In light of
the uncertainty, we decided to enter into discussions with
the U.S. Attorney’s Office in April 2011 to negotiate a
settlement that would be in the best interests of our
customers, employees and shareholders. On April
21, 2011, we were advised by the government that there was a
$2,730 settlement-in-principle to resolve all claims related
to the contracts, subject to final approval by the Department
of Justice. As a result, we recorded a $2,730
charge as a reduction in revenues for the first quarter of
2011. On June 1, 2011, we entered into a
Settlement Agreement with the United States of America,
acting through the United States Department of Justice and on
behalf of the Department of Defense that required us to pay a
total of $2,700 plus accrued interest thereon at the rate of
2.625% per annum. Under the Settlement Agreement, we were
required to make principal payments of $1,000, $567, $567 and
$566 being due on June 8, 2011, December 1, 2011, June 1,
2012 and December 1, 2012, respectively. Each
principal payment was accompanied by a payment of accrued
interest. As of December 31, 2012, we have made
all required payments.
9-Volt
Battery Litigation
In
July 2010, we were served with a summons and complaint filed
in Japan by one of our 9-volt battery customers. The
complaint alleged damages associated with claims of breach of
warranty in an amount of approximately $1,100. A trial
was held on May 25, 2012, in Japan before a panel of three
judges, after which the parties agreed to settle the matter
for approximately $125, which has been reflected in our cost
of products sold in the second quarter of
2012. The terms of the settlement agreement
include no legal liability on our part and the plaintiff
abandoning all other claims against us.
Arista
Power Litigation
On
September 23, 2011, we initiated an action against Arista
Power, Inc. (“Arista”) and our former senior
sales and engineering employee, David Modeen
(“Modeen”) in the State of New York Supreme
Court, County of Wayne (Index No. 73379). In our
Complaint, we allege that Arista recruited all but one of the
members of its executive team from us, subsequently changed
and redirected its business to compete directly with us by
using our confidential information, and during the summer of
2011, recruited Modeen to become an Arista
employee. We allege that, as a result of actions
by Arista and Modeen: (i) Modeen has breached the terms of
his Employee Confidentiality, Non-Disclosure, Non-Compete,
Non-Disparagement and Assignment Agreement with us; (ii)
Modeen has breached certain agreements, duties and
obligations he owed us, including to protect and refrain from
disclosing our trade secrets and confidential and proprietary
information; (iii) Arista’s employment of Modeen will
inevitably lead to the disclosure and use of our trade
secrets by Arista, in violation of Modeen’s duties and
obligations to us; (iv) Arista unlawfully induced Modeen to
breach his agreements with and duties and obligations to us;
and (v) Arista’s recruitment and employment of Modeen
has breached a subcontract between Arista and
us. We seek damages as determined at trial and
preliminary and permanent injunctive relief. The
defendants have answered the allegations set forth in the
Complaint, without asserting any counterclaims.
On December 5,
2011, Arista served us with a Complaint it filed on November
29, 2011 in the State of New York Supreme Court, County of
Monroe (Index No. 11-13896) against us, our
officers, several of our directors, and an
employee. In its Complaint, Arista alleges that we
and our named defendants have violated the terms of a
Confidentiality Agreement with Arista and have unfairly
competed against Arista by unlawfully appropriating
Arista’s trade secrets and that as a result of such
activity, Arista has incurred damages in excess of
$60,000. Arista seeks damages, an accounting, and
preliminary and permanent injunctive relief.
On
December 21, 2011, we and our officers, directors and
employee named in Arista’s Complaint filed a motion to
dismiss Arista’s Complaint against our officers,
directors and employee as Arista’s Complaint fails to
state any cause of action against any of them and to dismiss
the claim of fraud against our officers, directors and
employee. Subsequently, Arista filed an Amended
Complaint alleging essentially the same causes of action but
adding additional factual allegations against us and our
officers, directors and employee. In addition,
Arista filed a motion to disqualify our outside legal counsel
representing us and our officers, directors and employee in
both Arista’s Complaint and our Complaint against
Arista. In response, we and our officers,
directors and employee filed a new motion to dismiss
Arista’s Complaint against us in its entirety and
seeking dismissal of the fraud claim against
us. Arista’s motion to disqualify our
outside legal counsel was denied on February 10,
2012. On March 9, 2012, the Court issued its
decision on our motion to dismiss, granting the motion to the
extent of dismissing some claims against us, but denying the
motion to dismiss the individuals from the lawsuit at this
preliminary stage. On April 19, 2012, an Answer
was filed on behalf of us, our officers, directors and
employee. Discovery has commenced with respect to the Arista
litigation and is ongoing.
We
initiated the September 23, 2011 Complaint against Arista
Power to protect our customers, employees and shareholders
from the unauthorized use and theft of our investments in
intellectual property, trade secrets and confidential
information by Arista and its
employees. Protecting our collective intellectual
property and know-how, developed at great cost to us to form
our competitive position in the marketplace and create value
for our shareholders, is a fundamental responsibility of all
our employees.
We
believe the November 29, 2011 Arista Complaint is retaliatory
and without merit. Our development of the
foundation for the new product concept for which Arista
claims we allegedly used its trade secrets commenced in 2008,
long prior to the departure of those individuals who now
constitute the executive team of
Arista. Furthermore, we believe the purported
damage of $60,000 being claimed by Arista is based solely on
the reduction in its market capitalization between November
2009 and the filing date of the Complaint. This market value
loss is totally unrelated to any actions on account of us,
and claims for recovery of this or any other amount are
legally and factually baseless.
Accordingly,
we will vigorously pursue our complaint against Arista and
defend what we believe to be a meritless action on the part
of Arista Power.
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No authoritative reference available. No definition available.
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Note 11 - Business Segment Information
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] |
On
February 16, 2012, our senior management, as authorized by
our Board of Directors, decided to divest our RedBlack
Communications business, which previously was reported in the
Communications Systems segment. See Note 2 in
these Notes to Condensed Consolidated Financial Statements
for additional information.
During
the fourth quarter of 2012, we elected not to renew the lease
for our U.K. manufacturing facility which expired on March
24, 2013, and to relocate our sales and services operations
to a smaller facility. As a result of this
decision, we were required to restore the facility back to
its original condition per a previous contractual commitment.
This facility previously served our Battery and Energy
Segments business. A portion of these costs were classified
as a discontinued operation in the fourth quarter of 2012.
See Note 2 in these Notes to Consolidated Financial
Statements for additional information.
We
report our results in two operating segments: Battery &
Energy Products and Communications Systems. The
Battery & Energy Products segment includes: lithium
9-volt, cylindrical and various other non-rechargeable
batteries, in addition to rechargeable batteries,
uninterruptable power supplies, charging systems and
accessories, such as cables. The Communications
Systems segment includes: power supplies, cable and connector
assemblies, RF amplifiers, amplified speakers, equipment
mounts, case equipment, integrated communication system kits
and communications and electronics systems
design. We believe that reporting performance at
the gross profit level is the best indicator of segment
performance. As such, we report segment
performance at the gross profit level and operating expenses
as Corporate charges.
The components of
segment performance were as follows:
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No authoritative reference available. No definition available.
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Note 12 - Fair Value of Financial Instruments
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6 Months Ended | ||
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Jun. 30, 2013
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Fair Value Disclosures [Abstract] | |||
Fair Value Disclosures [Text Block] |
FASB’s
guidance for the disclosure regarding fair value of financial
instruments requires disclosure of an estimate of the fair
value of certain financial instruments. The fair
value of financial instruments pursuant to FASB’s
guidance for the disclosure regarding fair value of financial
instruments approximated their carrying values at June 30,
2013 and December 31, 2012. The fair value of
cash, trade accounts receivable, trade accounts payable,
accrued liabilities, and our revolving credit facility
approximates carrying value due to the short-term nature of
these instruments.
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X | ||||||||||
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X | ||||||||||
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No authoritative reference available. No definition available.
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Note 13 - Fire at Manufacturing Facility
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6 Months Ended | ||
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Jun. 30, 2013
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|||
Extraordinary and Unusual Items [Abstract] | |||
Business Insurance Recoveries [Text Block] |
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.
The total amount
of the loss pertaining to assets and the related expenses was
approximately $1,589. The majority of our
insurance claim is related to the recovery of damaged
inventory. In June 2012, we received approximately
$1,017 as a partial payment on our insurance claim, which
resulted in no gain or loss being recognized. In
April 2013, we have received $269 as a further payment on
this claim, with no gain or loss recognized. As of
June, 2013, we reflect a receivable from the insurance
company relating to this claim of $165, which is net of our
deductible of approximately $132, and represents additional
proceeds to be received. The deductible charge was
expensed in the second quarter of 2011 and reflected as a
component of cost of products sold in the Consolidated
Statements of Comprehensive Income.
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- Definition
No authoritative reference available. No definition available.
|
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Note 14 - Recent Accounting Pronouncements and Developments
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6 Months Ended | ||
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Jun. 30, 2013
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] |
In
March 2013, the FASB issued ASU 2013-05,
“Parent’s Accounting for the Cumulative
Translation Adjustment upon Derecognition of Certain
Subsidiaries or Groups of Assets within a Foreign Entity or
of an Investment in a Foreign Entity.” ASU 2013-05
states that the cumulative translation adjustment is released
into net income when a reporting entity ceases to have a
controlling interest in a subsidiary that is controlled by a
consolidated foreign entity. Further, this update states that
the sale of an investment in a foreign entity includes both
events that result in the loss of a controlling financial
interest in a foreign entity, regardless of any retained
investment, and events that result in an acquirer obtaining
control through a step acquisition. ASU 2013-05 is effective
prospectively for fiscal years beginning after December 15,
2013, with early adoption permitted. We do not believe that
adoption of this standard will have a material impact on our
consolidated results of operations and financial
condition.
In
February 2013, the FASB issued ASU 2013-02, “Reporting
of Amounts Reclassified out of Accumulated Other
Comprehensive Income.” ASU 2013-02 requires an entity
to provide information about the amounts reclassified out of
accumulated other comprehensive income by component as well
as presentation, either on the face of the financial
statement or in the notes, of significant amounts
reclassified out of accumulated other comprehensive income by
the respective line items of net income but only if the
amount reclassified is required under U.S. GAAP to be
reclassified to net income in its entirety in the same
reporting period. For amounts that are not required to be
reclassified in their entirety to net income, an entity is
required to cross-reference to other disclosures that provide
additional detail about those amounts. ASU 2013-02 is
effective for fiscal years beginning after December 15, 2012.
Adoption of this standard did not have a material impact on
our consolidated results of operations and financial
condition.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 2 - Dispositions and Exit Activities (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 3 - Inventories (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
|
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Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Inventory, Current [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 4 - Property, Plant and Equipment (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 5 - Goodwill, Intangible Assets and Long Term Assets (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] |
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Schedule of Finite-Lived Intangible Assets [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 6 - Debt (Tables)
|
6 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2013
|
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Debt Disclosure [Abstract] | |||||||||||||
Credit Facility, Variable Interest Rate [Table Text Block] |
|
X | ||||||||||
- Definition
Credit Facility, Variable Interest Rate Table No definition available.
|
X | ||||||||||
- Details
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Note 7 - Shareholders' Equity (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Note 7 - Shareholders' Equity (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
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Schedule Of Share Based Compensation, Restricted Stock Units, Award Values [Table Text Block] |
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Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] |
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Employee Stock Option [Member]
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Note 7 - Shareholders' Equity (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
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Restricted Stock Units (RSUs) [Member]
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Note 7 - Shareholders' Equity (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 8 - Income Taxes (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
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Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 9 - Earnings Per Share (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 10 - Commitments and Contingencies (Tables)
|
6 Months Ended | ||||||||||||||||||||
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Jun. 30, 2013
|
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||
Schedule of Product Warranty Liability [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 11 - Business Segment Information (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2013
|
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Divestiture Non Compete Period No definition available.
|
X | ||||||||||
- Definition
Divestiture No Tampering Period No definition available.
|
X | ||||||||||
- Definition
Divestiture Representations And Warranties Period No definition available.
|
X | ||||||||||
- Definition
Lease Exit Costs, Continuing Operations No definition available.
|
X | ||||||||||
- Definition
Lease Exit Costs, Discontinued Operations No definition available.
|
X | ||||||||||
- Definition
Length Of Time Sales Proceeds Held In Escrow No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage Of Subsidiary Stock Sold No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Sales Price Reserved For Employee Retention Programs No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 3 - Inventories (Details) - Composition of inventories (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Composition of inventories [Abstract] | ||
Raw materials | $ 16,346 | $ 15,023 |
Work in process | 3,470 | 4,863 |
Finished goods | 11,205 | 10,484 |
$ 31,021 | $ 30,370 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 4 - Property, Plant and Equipment (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
|
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 729 | $ 824 | $ 1,559 | $ 1,660 |
Asset Impairment Charges | $ 56 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Note 4 - Property, Plant and Equipment (Details) - Major classes of property, plant and equipment (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Major classes of property, plant and equipment [Abstract] | ||
Land | $ 123 | $ 123 |
Buildings and leasehold improvements | 7,402 | 7,381 |
Machinery and equipment | 46,552 | 46,606 |
Furniture and fixtures | 1,928 | 1,810 |
Computer hardware and software | 4,198 | 4,103 |
Construction in progress | 1,138 | 1,275 |
61,341 | 61,298 | |
Less: Accumulated depreciation | 50,092 | 48,883 |
$ 11,249 | $ 12,415 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 5 - Goodwill, Intangible Assets and Long Term Assets (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
Mar. 31, 2013
|
|
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Amortization of Intangible Assets | $ 98 | $ 125 | $ 199 | $ 250 | |
Accounts Receivable, Net, Noncurrent | $ 1,174 | $ 1,174 | $ 2,031 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Note 5 - Goodwill, Intangible Assets and Long Term Assets (Details) - Goodwill activity by segment (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2013
|
Dec. 31, 2012
|
Jul. 01, 2012
|
Dec. 31, 2011
|
|
Goodwill [Line Items] | ||||
Balance at | $ 16,391 | $ 16,344 | $ 18,379 | $ 18,356 |
Sale of RedBlack Communications | (2,025) | |||
Effect of foreign currency translations | 47 | (10) | 23 | |
Battery & Energy Products [Member]
|
||||
Goodwill [Line Items] | ||||
Balance at | 4,898 | 4,851 | 4,861 | 4,838 |
Effect of foreign currency translations | 47 | (10) | 23 | |
Communications Systems [Member]
|
||||
Goodwill [Line Items] | ||||
Balance at | 11,493 | 11,493 | 11,493 | 11,493 |
Discontinued Operations [Member]
|
||||
Goodwill [Line Items] | ||||
Balance at | 2,025 | 2,025 | ||
Sale of RedBlack Communications | $ (2,025) |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 5 - Goodwill, Intangible Assets and Long Term Assets (Details) - Composition of intangible assets (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Finite-Lived Intangible Assets [Line Items] | ||
Gross Assets | $ 3,566 | $ 3,564 |
Net | 3,566 | 3,564 |
Accumulated Amortization | 7,853 | 7,615 |
Gross Assets | 12,697 | 12,654 |
Net | 4,844 | 5,039 |
Patented Technology [Member]
|
||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Assets | 4,505 | 4,495 |
Accumulated Amortization | 3,822 | 3,702 |
Net | 683 | 793 |
Customer Relationships [Member]
|
||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Assets | 4,020 | 3,998 |
Accumulated Amortization | 3,469 | 3,366 |
Net | 551 | 632 |
Distributor Relationships [Member]
|
||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Assets | 388 | 380 |
Accumulated Amortization | 344 | 330 |
Net | 44 | 50 |
Noncompete Agreements [Member]
|
||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Assets | 218 | 217 |
Accumulated Amortization | $ 218 | $ 217 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Fixed Charge Coverage Ratio No definition available.
|
X | ||||||||||
- Definition
The minimum amount added to the percentage of eligible accounts receivable to calculate the credit facility borrowing base. No definition available.
|
X | ||||||||||
- Definition
Line Of Credit, Maximum Borrowing Capacity, Percentage Of Appraised Net Orderly Liquidation Value Of Eligible Inventory No definition available.
|
X | ||||||||||
- Definition
Line Of Credit, Maximum Borrowing Capacity, Percentage Of Book Value Of Eligible Inventory No definition available.
|
X | ||||||||||
- Definition
Line Of Credit, Maximum Borrowing Capacity, Percentage Of Eligible Accounts Receivable No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Shareholders' Equity (Details) (USD $)
|
1 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 31, 2011
|
Dec. 31, 2010
|
Mar. 31, 2008
|
Dec. 31, 2005
|
Jun. 30, 2013
|
Jun. 30, 2013
|
Jul. 01, 2012
|
Dec. 31, 2012
|
Jan. 03, 2011
|
Mar. 07, 2008
|
Dec. 19, 2005
|
Jun. 30, 2013
Employee Stock Option [Member]
|
Jul. 01, 2012
Employee Stock Option [Member]
|
Jun. 30, 2013
Employee Stock Option [Member]
|
Jul. 01, 2012
Employee Stock Option [Member]
|
Jan. 29, 2013
Restricted Stock Units (RSUs) [Member]
Chief Executive Officer [Member]
|
Jun. 30, 2013
Restricted Stock [Member]
|
Jul. 01, 2012
Restricted Stock [Member]
|
Jun. 30, 2013
Restricted Stock [Member]
|
Jul. 01, 2012
Restricted Stock [Member]
|
Jan. 29, 2013
Vesting Condition 1 [Member]
|
Jan. 29, 2013
Vesting Condition 2 [Member]
|
Jan. 29, 2013
Vesting Condition 3 [Member]
|
Jan. 29, 2013
Vesting Condition 4 [Member]
|
Jun. 30, 2013
Long-Term Incentive Plan [Member]
|
Dec. 31, 2011
Long-Term Incentive Plan [Member]
|
Jun. 30, 2004
Long-Term Incentive Plan [Member]
|
Jun. 30, 2013
Incentive Stock Options [Member]
Minimum [Member]
|
Jun. 30, 2013
Incentive Stock Options [Member]
Maximum [Member]
|
Jun. 30, 2013
Non Qualified Stock Options [Member]
Minimum [Member]
|
Dec. 31, 2010
Option Grant 1 [Member]
|
Dec. 30, 2010
Option Grant 1 [Member]
|
Dec. 31, 2010
Option Grant 2 [Member]
|
Dec. 30, 2010
Option Grant 2 [Member]
|
Dec. 31, 2010
Option Grant 3 [Member]
|
Dec. 30, 2010
Option Grant 3 [Member]
|
Dec. 31, 2010
Option Grant 4 [Member]
|
Dec. 30, 2010
Option Grant 4 [Member]
|
|
Note 7 - Shareholders' Equity (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||
Treasury Stock, Shares | 1,372,757 | 1,372,757 | 1,372,757 | |||||||||||||||||||||||||||||||||||
Treasury Stock, Value (in Dollars) | $ 7,658,000 | $ 7,658,000 | $ 7,658,000 | |||||||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 | 40,000,000 | 2,900,000 | 750,000 | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | 3 years | 5 years | 3 years | 4 years | 4 years | 4 years | 4 years | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,169,538 | 2,169,538 | 2,211,488 | 2,119,538 | ||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | 50,000 | 48,000 | 153,000 | 50,000 | 250,000 | 200,000 | 200,000 | ||||||||||||||||||||||||||||||
Share Price (in Dollars per share) | $ 6.58 | $ 12.74 | $ 12.96 | $ 6.42 | $ 6.42 | $ 10.00 | $ 15.00 | |||||||||||||||||||||||||||||||
Share Based Payment Award Options Annual Incremental Vesting | 12,500 | 30,000 | 30,000 | 30,000 | 30,000 | 12,500 | 62,500 | 50,000 | 50,000 | |||||||||||||||||||||||||||||
Minimum Share Price Requirement (in Dollars per share) | $ 4.00 | $ 5.00 | $ 4.00 | $ 5.00 | $ 10.00 | $ 15.00 | ||||||||||||||||||||||||||||||||
Number Of Days In Period Minimum Share Price Requirement | 15 | 15 | 15 | 15 | 15 | 15 | ||||||||||||||||||||||||||||||||
Number Of Days In Period Minimum Share Price Requirement Term | 30 | 30 | 30 | 30 | 30 | 30 | ||||||||||||||||||||||||||||||||
Share Based Payment Award Options Term | 5 | |||||||||||||||||||||||||||||||||||||
Share-based Compensation (in Dollars) | 430,000 | 670,000 | 200,000 | 252,000 | 390,000 | 516,000 | 40 | 0 | 40 | 1,000 | ||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 917,000 | 917,000 | 394 | 394 | ||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 237 days | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | 1,000 | |||||||||||||||||||||||||||||||||||||
Proceeds from Stock Options Exercised (in Dollars) | 12,000 | 115,000 | ||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 120,000 | 120,000 | 120,000 | |||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross (in Dollars) | $ 0 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Shareholders' Equity (Details) - Stock options valuation assumptions (Employee Stock Option [Member])
|
6 Months Ended | |
---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
|
Employee Stock Option [Member]
|
||
Note 7 - Shareholders' Equity (Details) - Stock options valuation assumptions [Line Items] | ||
Risk-free interest rate | 0.68% | 0.59% |
Volatility factor | 62.60% | 62.88% |
Dividends | 0.00% | 0.00% |
Weighted average expected life (years) | 4 years 21 days | 3 years 332 days |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Shareholders' Equity (Details) - Restricted stock units valuation assumptions (Restricted Stock Units (RSUs) [Member])
|
6 Months Ended |
---|---|
Jun. 30, 2013
|
|
Restricted Stock Units (RSUs) [Member]
|
|
Note 7 - Shareholders' Equity (Details) - Restricted stock units valuation assumptions [Line Items] | |
Risk-free interest rate | 0.21% |
Volatility factor | 59.08% |
Dividends | 0.00% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Shareholders' Equity (Details) - Restricted stock units values (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2013
|
Jun. 30, 2013
|
|
Restricted stock units values [Abstract] | ||
Number of shares award | 120,000 | 120,000 |
Weighted average fair value per share (in Dollars per share) | $ 3.62 | $ 3.62 |
Aggregate total value (in Dollars) | $ 434 | $ 434 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Shareholders' Equity (Details) - Restricted stock units activity (USD $)
|
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2013
|
Jun. 30, 2013
|
|
Restricted stock units activity [Abstract] | ||
Unvested at January 1, 2013 | 0 | |
Unvested at January 1, 2013 (in Dollars per share) | $ 0 | |
Unvested at June 30, 2013 | 120,000 | 120,000 |
Unvested at June 30, 2013 (in Dollars per share) | $ 3.62 | $ 3.62 |
Granted | 120,000 | 120,000 |
Granted (in Dollars per share) | $ 3.62 | $ 3.62 |
Vested | 0 | |
Vested (in Dollars per share) | $ 0 | |
Forfeited | 0 | |
Forfeited (in Dollars per share) | $ 0 |
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Note 8 - Income Taxes (Details) (USD $)
|
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
Dec. 31, 2012
|
|
Note 8 - Income Taxes (Details) [Line Items] | |||||
Income Tax Expense (Benefit) | $ 53,000 | $ 171,000 | $ 151,000 | $ 262,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 58,030,000 | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 12,390,000 | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 48,549,000 | ||||
Operating Loss Carryforwards, Amount Recorded In Equity Upon Realization | 2,949,000 | ||||
Operating Loss Carryforwards, Limitations on Use | We have determined that changes in ownership, as defined under Internal Revenue Code Section382, occurred during 2005 and 2006. As such, the domestic net operating loss carryforwards will be subject to an annual limitation estimated to be in the range of approximately $12,000 to $14,500.The unused portion of the annual limitation can be carried forward to subsequent periods. We believe such limitation will not impact our ability to realize the deferred tax asset.The use of our U.K. net operating loss carryforwards may be limited due to the change in our U.K. operation during 2008 from a manufacturing and assembly center to primarily a distribution and service center. | ||||
Three Months Ended [Member]
|
|||||
Note 8 - Income Taxes (Details) [Line Items] | |||||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 0 | 0 | |||
Six Months Ended [Member]
|
|||||
Note 8 - Income Taxes (Details) [Line Items] | |||||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 12,000 | 12,000 | |||
Minimum [Member]
|
|||||
Note 8 - Income Taxes (Details) [Line Items] | |||||
Operating Loss Carryforward Estimated Limit | 12,000 | 12,000 | |||
Maximum [Member]
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|||||
Note 8 - Income Taxes (Details) [Line Items] | |||||
Operating Loss Carryforward Estimated Limit | $ 14,500 | $ 14,500 |
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Operating Loss Carryforwards, Amount Recorded In Equity Upon Realization No definition available.
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Note 8 - Income Taxes (Details) - Effective consolidated tax rate (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
|
Effective consolidated tax rate [Abstract] | ||||
Loss from continuing operations before Incomes Taxes (a) | $ (1,903) | $ (3,065) | $ (1,641) | $ (4,405) |
Total Income Tax Provision (b) | $ 53 | $ 171 | $ 151 | $ 262 |
Effective Tax Rate (b/a) | 2.80% | 5.60% | 9.20% | 5.90% |
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Note 8 - Income Taxes (Details) - Unrecognized tax benefits (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2013
|
Dec. 31, 2012
|
Jul. 01, 2012
|
Dec. 31, 2011
|
---|---|---|---|---|
Unrecognized tax benefits [Abstract] | ||||
Balance | $ 7,508 | $ 7,508 | $ 6,779 | $ 6,779 |
Balance | $ 7,508 | $ 7,508 | $ 6,779 | $ 6,779 |
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Note 9 - Earnings Per Share (Details)
|
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
|
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,289,538 | 2,363,928 | 2,289,538 | 2,363,928 |
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- Definition
Net Income Loss From Continuing Operations Available To Common Stockholders No definition available.
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- Definition
Net Income Loss From Continuing Operations Available To Common Stockholders Adjusted No definition available.
|
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- Definition
Net Income Loss From Discontinued Operations Available To Common Stockholders Adjusted No definition available.
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Contingency Settlement, Interest Rate No definition available.
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Contingency Settlement, Principal Payment Due No definition available.
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Received To Date Under Grant No definition available.
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Note 10 - Commitments and Contingencies (Details) - Changes in product warranty liability (USD $)
In Thousands, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2013
|
|
Changes in product warranty liability [Abstract] | |
Balance at | $ 607 |
Accruals for warranties issued | 120 |
Settlements made | (46) |
Balance at | $ 681 |
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Note 11 - Business Segment Information (Details)
|
6 Months Ended |
---|---|
Jun. 30, 2013
|
|
Segment Reporting [Abstract] | |
Number of Operating Segments | 2 |
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Note 11 - Business Segment Information (Details) - Components of segment performance (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2013
|
Jul. 01, 2012
|
Jun. 30, 2013
|
Jul. 01, 2012
|
Dec. 31, 2012
|
|
Segment Reporting Information [Line Items] | |||||
Revenues | $ 17,279 | $ 18,706 | $ 38,298 | $ 46,207 | |
Segment contribution | (1,874) | (2,932) | (1,499) | (4,221) | |
Interest expense, net | (31) | (113) | (119) | (216) | |
Miscellaneous | 2 | (20) | (23) | 32 | |
Income taxes-current | (23) | (188) | (61) | (267) | |
Income taxes-deferred | (30) | 17 | (90) | 5 | |
Income (Loss) from discontinued operations | (120) | 49 | 144 | (22) | |
Noncontrolling interest | 3 | 20 | 9 | 20 | |
Net loss attributable to Ultralife | (2,073) | (3,167) | (1,639) | (4,669) | |
Total assets | 91,135 | 92,991 | 91,135 | 92,991 | 97,718 |
Battery & Energy Products [Member]
|
|||||
Segment Reporting Information [Line Items] | |||||
Revenues | 14,656 | 15,523 | 27,709 | 35,605 | |
Segment contribution | 3,490 | 3,763 | 6,590 | 7,706 | |
Total assets | 44,357 | 51,477 | 44,357 | 51,477 | |
Communications Systems [Member]
|
|||||
Segment Reporting Information [Line Items] | |||||
Revenues | 2,623 | 3,183 | 10,589 | 10,602 | |
Segment contribution | 1,032 | 704 | 4,311 | 3,354 | |
Total assets | 31,711 | 30,548 | 31,711 | 30,548 | |
Discontinued Operations [Member]
|
|||||
Segment Reporting Information [Line Items] | |||||
Income (Loss) from discontinued operations | (120) | 49 | 144 | (22) | |
Total assets | 2,759 | 2,759 | |||
Corporate Segment [Member]
|
|||||
Segment Reporting Information [Line Items] | |||||
Segment contribution | (6,396) | (7,399) | (12,400) | (15,281) | |
Interest expense, net | (31) | (113) | (119) | (216) | |
Miscellaneous | 2 | (20) | (23) | 32 | |
Income taxes-current | (23) | (188) | (61) | (267) | |
Income taxes-deferred | (30) | 17 | (90) | 5 | |
Noncontrolling interest | 3 | 20 | 9 | 20 | |
Total assets | $ 15,067 | $ 8,207 | $ 15,067 | $ 8,207 |
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Note 13 - Fire at Manufacturing Facility (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Jul. 01, 2012
|
Jul. 03, 2011
|
Jun. 30, 2013
|
|
Extraordinary and Unusual Items [Abstract] | |||
Business Interruption Loss, Gross | $ 1,589 | ||
Proceeds from Insurance Settlement, Operating Activities | 1,017 | 269 | |
Insurance Settlements Receivable | 165 | ||
Business Interruption, Insurance Deductible | $ 132 |
X | ||||||||||
- Definition
Business Interruption, Insurance Deductible No definition available.
|
X | ||||||||||
- Definition
Business Interruption Loss, Gross No definition available.
|
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- Details
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X | ||||||||||
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- Definition
No authoritative reference available. No definition available.
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