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Severance and Other Restructuring Costs
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Jan. 31, 2013
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||
| Restructuring and Related Activities Disclosure [Text Block] |
9. Severance and Other Restructuring Costs
During fiscal 2013, we continued to take actions to lower our cost structure as we strive to improve our financial performance and incurred restructuring charges totaling $3.1 million. These charges included severance costs of $1.9 million and other restructuring costs of $1.2 million. Severance costs were primarily a result of a reduction of the finance and manufacturing departments and the termination of two senior executives during fiscal 2013. The other restructuring costs included:
With the divestiture of our Broadcast Servers and Storage business, we determined we would no longer utilize our facility in New Hampshire as an active operation and have placed the building on the market for sale. We originally placed it on the market for $0.7 million. To be more competitive in the real estate market in which the property is located, we reduced the selling price to $0.5 million in the third quarter of fiscal 2013.
During fiscal 2012, we incurred restructuring charges totaling $3.6 million including severance costs of $2.5 million for the termination of 33 employees, including the departure of the President and the retirement of the Chief Executive Officer and a $1.1 million restructuring charge for the disposal of fixed assets relating to the New Hampshire facility discussed above.
The following table shows the change in balances of our severance liability for the fiscal year ended January 31, 2013. These amounts are reported as a component of accrued liabilities on the consolidated balance sheets as of January 31, 2013 (amounts in thousands):
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