|
Restructuring
|
6 Months Ended | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2012
|
||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||
| Restructuring and Related Activities Disclosure [Text Block] |
8. Restructuring
The following amounts are reported as a component of accrued liabilities on the Balance Sheet as of July 31, 2012 as follows:
During the first six months of fiscal 2013, we incurred restructuring charges of $1.4 million primarily related to the reduction in headcount in our finance and accounting and manufacturing departments, as well as significantly reducing the size of our leased facility in the Philippines, as we continued to take actions to lower our cost structure and improve our financial performance. Included in the restructuring charges are severance costs of $400,000 related to the reduction of 21 employees, and a $865,000 leasehold improvement write off for the reduction of space and certain other fixed assets in our leased facility in the Philippines. In addition, we incurred one-time charges of approximately $200,000 for a sign on bonus, relocation expenses and recruitment fees, relating to the hiring and appointment of a permanent Chief Executive Officer on May 1, 2012. We incurred $0.2 million of severance and restructuring charges for the first six months of fiscal 2012 related to the manufacturing department.
On August 3, 2012, we eliminated two executive positions on the senior management team and we will incur approximately $500,000 severance costs in our third quarter of fiscal 2013. |
|||||||||||||||||||||||||