Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Feb. 26, 2014 | Jun. 28, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'RCM TECHNOLOGIES INC | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 12,452,821 | ' |
Entity Public Float | ' | ' | $317,000,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000700841 | ' | ' |
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 | 28-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Condsolidated_Balance_Sheets
Condsolidated Balance Sheets (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $9,317 | $14,123 |
Accounts receivable, net | 55,726 | 43,706 |
Transit accounts receivable | 3,953 | 10,010 |
Prepaid expenses and other current assets | 1,875 | 1,965 |
Deferred income tax assets, domestic | 1,833 | 541 |
Total current assets | 72,704 | 70,345 |
Property and equipment, net | 2,291 | 1,880 |
Other assets: | ' | ' |
Deposits | 159 | 244 |
Goodwill | 9,545 | 9,545 |
Intangible assets, net | 216 | 332 |
Deferred income tax assets, domestic | 1,609 | 2,202 |
Total other assets | 11,529 | 12,323 |
Total assets | 86,524 | 84,548 |
Current liabilities: | ' | ' |
Accounts payable and accrued expenses | 9,671 | 6,334 |
Transit accounts payable | 3,905 | 11,987 |
Accrued payroll and related costs | 10,104 | 6,241 |
Income taxes payable | 404 | 119 |
Deferred income tax liability, foreign | 132 | 73 |
Contingent consideration | 523 | 309 |
Total current liabilities | 24,739 | 25,063 |
Contingent consideration | 407 | 713 |
Total liabilities | 25,146 | 25,776 |
Stockholders’ equity: | ' | ' |
Preferred stock, $1.00 par value; 5,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $0.05 par value; 40,000,000 shares authorized; 13,892,265 shares issued and 12,418,959 shares outstanding at December 28, 2013 and 13,756,589 shares issued and 12,298,733 shares outstanding at December 29, 2012 | 695 | 688 |
Additional paid-in capital | 110,605 | 109,390 |
Accumulated other comprehensive income | 815 | 1,370 |
Accumulated deficit | -43,237 | -45,259 |
Treasury stock common (1,473,306 shares at December 28, 2013 and 1,457,856 shares at December 29, 2012) at cost | -7,500 | -7,417 |
Stockholders’ equity | 61,378 | 58,772 |
Total liabilities and stockholders’ equity | $86,524 | $84,548 |
Condsolidated_Balance_Sheets_P
Condsolidated Balance Sheets (Parentheticals) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Preferred stock par value (in Dollars per share) | $1 | $1 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $0.05 | $0.05 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 13,892,265 | 13,756,589 |
Common stock, shares outstanding | 12,418,959 | 12,298,733 |
Treasury stock shares | 1,473,306 | 1,457,856 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Revenues | $170,778,000 | $145,817,000 |
Cost of services | 126,417,000 | 106,102,000 |
Gross profit | 44,361,000 | 39,715,000 |
Operating costs and expenses | ' | ' |
Selling, general and administrative | 35,514,000 | 33,166,000 |
Severance and other charges | 5,181,000 | 0 |
Depreciation and amortization | 1,111,000 | 1,321,000 |
Operating costs and expenses | 41,806,000 | 34,487,000 |
Operating income | 2,555,000 | 5,228,000 |
Other income (expense) | ' | ' |
Interest expense and other, net | -55,000 | -40,000 |
Loss (gain) on foreign currency transactions | -5,000 | 7,000 |
Other income | 32,000 | 102,000 |
Income before income taxes | 2,587,000 | 5,330,000 |
Income tax expense | 597,000 | 2,103,000 |
Net income | 1,990,000 | 3,227,000 |
Basic and diluted net income per share (in Dollars per share) | $0.16 | $0.26 |
Short Term Liability Reduction [Member] | ' | ' |
Other income (expense) | ' | ' |
Change in contingent consideration | $92,000 | $135,000 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Net income | $1,990 | $3,227 |
Foreign currency translation adjustment | -555 | 64 |
Comprehensive income | $1,435 | $3,291 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Total |
Accumulated Deficit [Member] | ||||||||
Balance at Dec. 31, 2011 | ' | ' | $666,000 | $108,203,000 | $1,306,000 | ($35,801,000) | ($2,713,000) | $71,661,000 |
Balance (in Shares) at Dec. 31, 2011 | ' | ' | 13,335,008 | ' | ' | ' | 591,786 | ' |
Issuance of stock under employee stock purchase plan | ' | ' | 2,000 | 126,000 | ' | ' | ' | 128,000 |
Issuance of stock under employee stock purchase plan (in Shares) | ' | ' | 29,205 | ' | ' | ' | ' | 29,205 |
Translation adjustment | ' | ' | ' | ' | 64,000 | ' | ' | 64,000 |
Issuance of stock upon exercise of stock options | ' | ' | 20,000 | 892,000 | ' | ' | ' | 912,000 |
Issuance of stock upon exercise of stock options (in Shares) | ' | ' | 392,376 | ' | ' | ' | ' | 392,376 |
Stock based compensation expense | ' | ' | ' | 169,000 | ' | ' | ' | 169,000 |
Common stock repurchase | ' | ' | ' | ' | ' | ' | -4,704,000 | -4,704,000 |
Common stock repurchase (in Shares) | ' | ' | ' | ' | ' | ' | 866,070 | ' |
Cash dividend paid | ' | ' | ' | ' | ' | -12,335,000 | ' | -12,335,000 |
Dividends declared on unvested restricted stock units | -350,000 | -350,000 | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | 3,227,000 | ' | 3,227,000 |
Balance at Dec. 29, 2012 | ' | ' | 688,000 | 109,390,000 | 1,370,000 | -45,259,000 | -7,417,000 | 58,772,000 |
Balance (in Shares) at Dec. 29, 2012 | ' | ' | 13,756,589 | ' | ' | ' | 1,457,856 | ' |
Issuance of stock under employee stock purchase plan | ' | ' | 3,000 | 256,000 | ' | ' | ' | 259,000 |
Issuance of stock under employee stock purchase plan (in Shares) | ' | ' | 58,176 | ' | ' | ' | ' | 58,176 |
Translation adjustment | ' | ' | ' | ' | -555,000 | ' | ' | -555,000 |
Issuance of stock upon exercise of stock options | ' | ' | 1,000 | 113,000 | ' | ' | ' | 114,000 |
Issuance of stock upon exercise of stock options (in Shares) | ' | ' | 27,500 | ' | ' | ' | ' | 27,500 |
Issuance of stock upon vesting of restricted stock awards | ' | ' | 3,000 | -3,000 | ' | ' | ' | ' |
Issuance of stock upon vesting of restricted stock awards (in Shares) | ' | ' | 50,000 | ' | ' | ' | ' | ' |
Stock based compensation expense | ' | ' | ' | 849,000 | ' | ' | ' | 849,000 |
Common stock repurchase | ' | ' | ' | ' | ' | ' | -83,000 | -83,000 |
Common stock repurchase (in Shares) | ' | ' | ' | ' | ' | ' | 15,450 | ' |
Dividends forfeited on restricted stock awards | ' | ' | ' | ' | ' | 32,000 | ' | 32,000 |
Net income | ' | ' | ' | ' | ' | 1,990,000 | ' | 1,990,000 |
Balance at Dec. 28, 2013 | ' | ' | $695,000 | $110,605,000 | $815,000 | ($43,237,000) | ($7,500,000) | $61,378,000 |
Balance (in Shares) at Dec. 28, 2013 | ' | ' | 13,892,265 | ' | ' | ' | 1,473,306 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $1,990 | $3,227 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1,111 | 1,321 |
Change in contingent consideration | -92 | -135 |
Stock-based compensation expense | 849 | 169 |
Provision for losses on accounts receivable | -531 | 117 |
Deferred income tax expense | -634 | 781 |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | -12,473 | -4,693 |
Transit accounts receivable | 6,073 | -6,981 |
Prepaid expenses and other current assets | 46 | 160 |
Accounts payable and accrued expenses | 3,676 | 370 |
Transit accounts payable | -8,052 | 8,958 |
Accrued payroll and related costs | 3,951 | 376 |
Income taxes payable | 294 | -106 |
Total adjustments | -5,782 | 337 |
Net cash (used in) provided by operating activities | -3,792 | 3,564 |
Cash flows from investing activities: | ' | ' |
Property and equipment acquired | -1,406 | -511 |
Decrease (increase) in deposits | 84 | -45 |
Cash paid for acquisition | ' | -1,292 |
Net cash used in investing activities | -1,322 | -1,848 |
Cash flows from financing activities: | ' | ' |
Sale of stock for employee stock purchase plan | 259 | 128 |
Exercise of stock options | 114 | 912 |
Common stock repurchases | -83 | -4,704 |
Dividends paid to shareholders | ' | -12,335 |
Net cash provided by (used in) financing activities | 290 | -15,999 |
Effect of exchange rate changes on cash and cash equivalents | 18 | -11 |
Decrease in cash and cash equivalents | -4,806 | -14,294 |
Cash and cash equivalents at beginning of period | 14,123 | 28,417 |
Cash and cash equivalents at end of period | 9,317 | 14,123 |
Cash paid for: | ' | ' |
Interest | 66 | 42 |
Income taxes | 1,702 | 1,939 |
Non-cash investing activities: | ' | ' |
Contingent consideration recorded at date of acquisition | ' | 930 |
Above market value lease assumed in acquisition | ' | 469 |
Fixed assets acquired in acquisition | ' | 28 |
Non-cash financing activities: | ' | ' |
Dividend declared but unpaid on unvested restricted stock units | ' | 350 |
Dividends forfeited | -32 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Non-cash financing activities: | ' | ' |
Vesting of restricted stock units | $334 | ' |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Description of Business and Basis of Presentation | |
RCM Technologies, Inc. (the “Company” or “RCM”) is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering and information technology services. Additionally, the Company provides specialty health care staffing services through its Specialty Health Care Services group. RCM’s offices are primarily located in major metropolitan centers throughout North America. | |
The consolidated financial statements are comprised of the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Cash and Cash Equivalents | |
The Company considers its holdings of highly liquid money-market instruments and certificates of deposits to be cash equivalents if the securities mature within 90 days from the date of acquisition. These investments are carried at cost, which approximates fair value. The Company’s cash balances are maintained in accounts held by major banks and financial institutions. The majority of these balances exceed federally insured amounts. At December 28, 2013 and December 29, 2012, $3.3 million and $3.1 million, respectively, of cash and cash equivalents were held in Canadian banks. | |
Fair Value of Financial Instruments | |
The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable, transit accounts payable and accrued expenses, approximates fair value due to their liquidity or their short-term nature. The Company does not have derivative products in place to manage risks related to foreign currency fluctuations for its foreign operations or for interest rate changes. | |
Accounts Receivable and Allowance for Doubtful Accounts | |
The Company’s accounts receivable are primarily due from trade customers. Credit is extended based on evaluation of customers’ financial condition and, generally, collateral is not required. Accounts receivable payment terms vary and are stated in the financial statements at amounts due from customers net of an allowance for doubtful accounts. Accounts outstanding longer than the payment terms are considered past due. The Company determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, the Company’s previous loss history, the customer’s current ability to pay its obligation to the Company, and the condition of the general economy and the industry as a whole. The Company writes off accounts receivable when they become uncollectible, and payments subsequently received on such receivables previously written off are credited to bad debt expense. | |
Accrued and Unbilled Accounts Receivable and Work-in-Process | |
Unbilled receivables primarily represent revenues earned whereby those services are ready to be billed as of the balance sheet ending date. Work-in-process primarily represents revenues earned under contracts which the Company is contractually precluded from invoicing until future dates as project milestones are realized. See Note 4 for further details. | |
Transit Receivables and Transit Payables | |
From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company: a) engages subcontractors to provide construction services; b) typically earns a fixed percentage of the total project value as a management fee and c) assumes no ownership or risks of inventory. In such situations, the Company acts as an agent under the provisions of “Overall Considerations of Reporting Revenue Gross as a Principal versus Net as an Agent” and therefore recognizes revenue on a “net basis.” Under the terms of the agreements, the Company is not typically required to pay the subcontractor until after the corresponding payment from the Company’s end client is received. Upon invoicing the end client on behalf of the subcontractor the Company records this amount simultaneously as both a “transit account receivable” and “transit account payable” as the amount (when paid to the Company) is due to and generally paid to the subcontractor within a few days. At any given point in time, the Company’s transit accounts receivable usually equal the transit accounts payable. However, the transit accounts payable will occasionally exceed the transit accounts receivable due to timing differences. | |
Property and Equipment | |
Property and equipment are stated at cost net of accumulated depreciation and amortization and are depreciated on the straight-line method at rates calculated to provide for retirement of assets at the end of their estimated useful lives. The Company’s ERP software system, installed in 1999 and upgraded in 2004, is being depreciated over fifteen years. The Company’s VOIP telephone system, the installation of which was substantially complete at the end of 2008, is being depreciated over seven years. All other hardware and software as well as furniture and office equipment is depreciated over five years. Leasehold improvements are depreciated over the shorter of the estimated life of the asset or the lease term. The Company anticipates that it will enhance its current financial reporting and accounting system platform sometime in fiscal 2014. | |
Intangible Assets | |
The Company’s intangible assets have been generated through acquisitions. The Company maintains responsibility for valuing and determining the useful life of intangible assets and typically engages a third party valuation firm to assist them. As a general rule, the Company amortizes restricted covenants over four years and customer relationships over six years. However, circumstances may dictate other amortization terms as determined by the Company and their third party advisors. | |
Goodwill | |
Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired in business combinations. The Company is required to assess the carrying value of its reporting units that contain goodwill at least on an annual basis in order to determine if any impairment in value has occurred. The Company has the option to first assess qualitative factors to determine whether it is necessary to perform a two-step impairment test. An assessment of those qualitative factors or the application of the goodwill impairment test requires significant judgment including but not limited to the assessment of the business, its management and general market conditions, estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for the businesses, the useful life over which cash flows will occur and determination of weighted average cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions on goodwill impairment for each reporting unit. The Company formally assesses these qualitative factors and, if necessary, conducts its annual goodwill impairment test as of the last day of the Company’s fiscal November each year, or more frequently if indicators of impairment exist. The Company periodically analyzes whether any such indicators of impairment exist. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include a sustained, significant decline in share price and market capitalization, a decline in expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, a material change in management or its key personnel and/or slower expected growth rates, among others. Due to the thin trading of the Company stock in the public marketplace and the impact of the control premium held by a relatively few shareholders, the Company does not consider the market capitalization of the Company the most appropriate measure of fair value of goodwill for our reporting units. The Company looks to earnings/revenue multiples of similar companies recently completing acquisitions and the ability of our reporting units to generate cash flows as better measures of the fair value of our reporting units. The Company determined there was no impairment during the fiscal years ended December 28, 2013 and December 29, 2012. In both years, the Company determined that is was only necessary to assess qualitative factors and therefore did not perform a two-step impairment test. | |
Long-Lived Assets | |
The Company accounts for long-lived assets in accordance with “Accounting for the Impairment or Disposal of Long-Lived Assets.” Management periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Any impairment is measured by the amount that the carrying value of such assets exceeds their fair value, primarily based on estimated discounted cash flows. Considerable management judgment is necessary to estimate the fair value of assets. Assets to be disposed of are carried at the lower of their financial statement carrying amount or fair value, less cost to sell. | |
Software | |
In accordance with “Accounting for Costs of Computer Software Developed or Obtained for Internal Use,” certain costs related to the development or purchase of internal-use software are capitalized and amortized over the estimated useful life of the software. During the fiscal years ended December 28, 2013 and December 29, 2012, the Company capitalized approximately $443 and $101, respectively, for software costs. At December 28, 2013 the net balance after accumulated depreciation for all software costs capitalized was $505. | |
Income Taxes | |
The Company makes judgments and interpretations based on enacted tax laws, published tax guidance, as well as estimates of future earnings. These judgments and interpretations affect the provision for income taxes, deferred tax assets and liabilities and the valuation allowance. We evaluated the deferred tax assets and determined on the basis of objective factors that the net assets will be realized through future years’ taxable income. In the event that actual results differ from these estimates and assessments, additional valuation allowances may be required. | |
The Company accounts for income taxes in accordance with “Accounting for Income Taxes” which requires an asset and liability approach of accounting for income taxes. “Accounting for Income Taxes” requires assessment of the likelihood of realizing benefits associated with deferred tax assets for purposes of determining whether a valuation allowance is needed for such deferred tax assets. The Company and its wholly owned U.S. subsidiaries file a consolidated federal income tax return. The Company also files tax returns in Canada and Ireland. | |
The Company also follows the provisions of “Accounting for Uncertainty in Income Taxes” which prescribes a model for the recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure and transition. The Company’s policy is to record interest and penalty, if any, as interest expense. | |
Revenue Recognition | |
The Company derives its revenues from several sources. The Company’s Engineering Services and Information Technology Services segments perform consulting and project solutions services. All of the Company’s segments perform staff augmentation services and derive revenue from permanent placement fees. The majority of the Company’s revenues are invoiced on a time and materials basis. | |
Project Services | |
The Company recognizes revenues in accordance with “Revenue Recognition” which clarifies application of U.S. generally accepted accounting principles to revenue transactions. Project services are generally provided on a cost-plus, fixed-fee or time-and-material basis. Typically, a customer will outsource a discrete project or activity and the Company assumes responsibility for the performance of such project or activity. The Company recognizes revenues and associated costs on a gross basis as services are provided to the customer and costs are incurred using its employees. The Company, from time to time, enters into contracts requiring the completion of specific deliverables. The Company may recognize revenues on these deliverables at the time the client accepts and approves the deliverables. In instances where project services are provided on a fixed-price basis and the contract will extend beyond a 12-month period, revenue is recorded in accordance with the terms of each contract. In some instances, revenue is billed at the time certain milestones are reached, as defined in the contract. Revenues under these arrangements are recognized as the costs on these contracts are incurred. Amounts invoiced in excess of revenues recognized are recorded as deferred revenue, included in accounts payable and accrued expenses on the accompanying balance sheets. In other instances, revenue is billed and recorded based upon contractual rates per hour (i.e., percentage of completion). In addition, some contracts contain “Performance Fees” (bonuses) for completing a contract under budget. Performance Fees, if any, are recorded when earned. Some contracts also limit revenues and billings to specified maximum amounts. Provision for contract losses, if any, are made in the period such losses are determined. For contracts where there is a deliverable, the work is not complete on a specific deliverable and the revenue is not recognized, the costs are deferred. The associated costs are expensed when the related revenue is recognized. | |
See description of revenue recognition policy for construction management and engineering services above in “transit receivables and transit payables.” Such revenues recognized were approximately 18.0% of total revenues for the year ended December 28, 2013 as compared to 10.5% for the prior year. | |
Consulting and Staffing Services | |
Revenues derived from consulting and staffing services are recorded on a gross basis as services are performed and associated costs have been incurred using employees of the Company. These services are typically billed on a time and material basis. | |
In certain cases, the Company may utilize other companies and their employees to fulfill customer requirements. In these cases, the Company receives an administrative fee for arranging for, billing for, and collecting the billings related to these companies. The customer is typically responsible for assessing the work of these companies who have responsibility for acceptability of their personnel to the customer. Under these circumstances, the Company’s reported revenues are net of associated costs (effectively recognizing the net administrative fee only). | |
Transit Receivables and Transit Payables | |
From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. In certain circumstances, the Company may acquire equipment as a purchasing agent for the client for a fee. Pursuant to these agreements, the Company may: a) engage subcontractors to provide construction or other services or contracts with manufacturers on behalf of the Company’s clients to procure equipment or fixtures; b) typically earns a fixed percentage of the total project value or a negotiated mark-up on subcontractor or procurement charges as a fee and c) assumes no ownership or risks of inventory. In such situations, the Company acts as an agent under the provisions of “Overall Considerations of Reporting Revenue Gross as a Principal versus Net as an Agent” and therefore recognizing revenue on a “net-basis.” The Company records revenue on a “net” basis on relevant engineering and construction management projects, which require subcontractor/procurement costs or transit costs. In those situations, the Company charges the client a negotiated fee, which is reported as net revenue when earned. Similarly, the Company’s Information Technology segment acts as an agent for a major staffing client. The Company manages the staffing requirements for a division of the client and numerous staffing agencies provide staff and the Company collects a service fee. During the fifty-two week period ended December 28, 2013, total gross billings, including both transit cost billings and the Company’s earned fees, was $67.3 million, for which the Company recognized $30.7 million of its net fee as revenue. During the fifty-two week period ended December 29, 2012, total gross billings, including both transit cost billings and the Company’s earned fees, was $64.8 million, for which the Company recognized $15.3 million of its net fee as revenue. | |
Under the terms of the agreements, the Company is typically not required to pay the subcontractor under its Engineering contracts or staffing agencies under the Information Technology contract until after the corresponding payment from the Company’s client is received. Upon invoicing the end client on behalf of the subcontractor or staffing agency the Company records this amount simultaneously as both a “transit account receivable” and “transit account payable” as the amount when paid to the Company is due to and generally paid to the subcontractor within a few days. The Company typically does not pay a given transit account payable until the related transit account receivable is collected. The Company’s transit accounts payable usually exceeds the Company’s transit accounts receivable but absolute amounts and spreads fluctuate significantly from quarter to quarter in the normal course of business. The transit accounts receivable was $4.0 million and related transit accounts payable was $3.9 million, a net receivable of $0.1 million, as of December 28, 2013. The transit accounts receivable was $10.0 million and related transit accounts payable was $12.0 million, a net payable of $2.0 million, as of December 29, 2012. | |
Permanent Placement Services | |
The Company earns permanent placement fees from providing permanent placement services. Fees for placements are recognized at the time the candidate commences employment. The Company guarantees its permanent placements on a prorated basis for 90 days. In the event a candidate is not retained for the 90-day period, the Company will provide a suitable replacement candidate. In the event a replacement candidate cannot be located, the Company will provide a prorated refund to the client. An allowance for refunds, based upon the Company’s historical experience, is recorded in the financial statements. Revenues are recorded on a gross basis. Such revenues are not significant for the years ended December 28, 2013 and December 29, 2012. | |
Concentration | |
During the fiscal year ended December 28, 2013, Ontario Power Group (the Company primarily services Ontario Power Generation as a subcontractor through Black and McDonald Limited) and United Technologies Corporation accounted for 18.6% and 12.6% of the Company’s revenues, respectively, and as of December 28, 2013 represented 21.8% and 5.3% of the Company’s accounts receivable, net. No other customer accounted for 10% or more of the Company’s revenues. As of December 28, 2013, New York Power Authority total accounts receivable balance (including transit accounts receivable of $2.2 million) was $10.2 million or 16.6% of the total of accounts receivable, net and transit accounts receivable. No other customer accounted for 10% or more of the Company’s accounts receivable, net. The Company’s five, ten and twenty largest customers accounted for approximately 45.2%, 56.5% and 65.6%, respectively, of the Company’s revenues for fiscal year ended December 28, 2013. | |
During the fiscal year ended December 29, 2012, United Technologies Corporation accounted for 11.8% of the Company’s revenues and as of December 29, 2012 represented 7.5% of the Company’s accounts receivable, net. No other customer accounted for 10% or more of the Company’s revenues. As of December 29, 2012, New York Power Authority total accounts receivable balance (including transit accounts receivable of $6.9 million) was $12.5 million or 23.3% of the total of accounts receivable, net and transit accounts receivable. As of December 29, 2012, Ontario Power Generation’s total accounts receivable balance (including transit accounts receivable of $1.9 million) was $6.3 million or 11.8% of the total of accounts receivable, net and transit accounts receivable. No other customer accounted for 10% or more of the Company’s accounts receivable, net. The Company’s five, ten and twenty largest customers accounted for approximately 37.4%, 46.9% and 57.5%, respectively, of the Company’s revenues for fiscal year ended December 29, 2012. | |
Foreign Currency Translation | |
The functional currency of the Company’s Canadian subsidiary is the local currency. Assets and liabilities are translated at period-end exchange rates. Income and expense items are translated at weighted average rates of exchange prevailing during the year. Any translation adjustments are included in the accumulated other comprehensive income account in stockholders’ equity. Transactions executed in different currencies resulting in exchange adjustments are translated at spot rates and resulting foreign exchange transaction gains and losses are included in the results of operations. | |
Comprehensive Income | |
Comprehensive income consists of net income and foreign currency translation adjustments. | |
Per Share Data | |
Basic net income per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated using the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. Potential dilutive common shares consist of stock options and other stock-based awards under the Company’s stock compensation plans, when their impact is dilutive. Because of the Company’s capital structure, all reported earnings pertain to common shareholders and no other adjustments are necessary. | |
Share - Based Compensation | |
The Company recognizes share-based compensation over the vesting period of an award based on fair value at the grant date determined using the Black-Scholes option pricing model. Certain assumptions are used to determine the fair value of stock-based payment awards on the date of grant and require subjective judgment. Because employee stock options have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect the fair value estimate, the existing models may not provide a reliable single measure of the fair value of the employee stock options. Management assesses the assumptions and methodologies used to calculate estimated fair value of stock-based compensation when share-based awards are granted. Circumstances may change and additional data may become available over time, which could result in changes to these assumptions and methodologies and thereby materially impact our fair value determination. See Note 11 for additional share-based compensation information. | |
Restricted stock units are recognized at their fair value. The amount of compensation cost is measured on the grant date fair value of the equity instrument issued. The Compensation cost of the restricted stock units is recognized over the vesting period of the restricted stock units on a straight-line basis. Restricted stock units typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period assuming the grantee’s restricted stock unit fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying consolidated balance sheet. Dividends for restricted share units that ultimately do not vest are forfeited. | |
Advertising Costs | |
Advertising costs are expensed as incurred. Total advertising expense was $490 and $497 for the fiscal years ended December 28, 2013 and December 29, 2012, respectively. |
Note_2_Fiscal_Year
Note 2 - Fiscal Year | 12 Months Ended |
Dec. 28, 2013 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
2. FISCAL YEAR | |
The Company follows a 52/53 week fiscal reporting calendar ending on the Saturday closest to December 31. Both fiscal years ended December 28, 2013 (fiscal 2013) and December 29, 2012 (fiscal 2012) were a 52-week reporting years. |
Note_3_Use_of_Estimates_and_Un
Note 3 - Use of Estimates and Uncertainties | 12 Months Ended |
Dec. 28, 2013 | |
Disclosure Text Block [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
3. USE OF ESTIMATES AND UNCERTAINTIES | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. | |
The Company uses estimates to calculate an allowance for doubtful accounts on its accounts receivables, adequacy of reserves, the tax rate applied and the valuation of certain assets and liability accounts. These estimates can be significant to the operating results and financial position of the Company. | |
The Company has risk participation arrangements with respect to workers compensation and health care insurance. The amounts included in the Company’s costs related to this risk participation are estimated and can vary based on changes in assumptions, the Company’s claims experience or the providers included in the associated insurance programs. | |
The Company can be affected by a variety of factors including uncertainty relating to the performance of the general economy, competition, demand for the Company’s services, adverse litigation and claims and the hiring, training and retention of key employees. | |
Fair Value of Financial Instruments | |
The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable and accrued expenses, and transit accounts payable approximates fair value due to their liquidity or their short-term nature. The Company does not have derivative products in place to manage risks related to foreign currency fluctuations for its foreign operations or for interest rate changes. |
Note_4_Accounts_Receivable
Note 4 - Accounts Receivable | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||
4. ACCOUNTS RECEIVABLE | |||||||||
The Company’s accounts receivable are comprised as follows: | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Billed | $ | 35,415 | $ | 26,600 | |||||
Accrued and unbilled | 7,895 | 4,761 | |||||||
Work-in-progress | 13,394 | 13,552 | |||||||
Allowance for doubtful accounts and sales discounts | (978 | ) | (1,207 | ) | |||||
Accounts receivable, net | $ | 55,726 | $ | 43,706 | |||||
Unbilled receivables primarily represent revenues earned whereby those services are ready to be billed as of the balance sheet date. Work-in-process primarily represents revenues earned under contracts which the Company contractually invoices at future dates. |
Note_5_Property_and_Equipment
Note 5 - Property and Equipment | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
5. PROPERTY AND EQUIPMENT | |||||||||
Property and equipment are comprised of the following: | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Equipment and furniture | $ | 2,454 | $ | 2,366 | |||||
Computers and systems | 5,670 | 5,204 | |||||||
Leasehold improvements | 633 | 949 | |||||||
8,757 | 8,519 | ||||||||
Less: accumulated depreciation and amortization | 6,466 | 6,639 | |||||||
Property and equipment, net | $ | 2,291 | $ | 1,880 | |||||
The Company writes off fully depreciated assets each year. In the fiscal years ended December 28, 2013 and December 29, 2012, write-offs were $1,169 and $1,466, respectively. For the fiscal years ended December 28, 2013 and December 29, 2012, depreciation expense was $995 and $1,193, respectively. |
Note_6_Acquisitions
Note 6 - Acquisitions | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||||||
6. ACQUISITIONS | |||||||||||||
General | |||||||||||||
The Company has acquired numerous companies throughout its history and those acquisitions have generally included significant future contingent consideration. The Company gives no assurance that it will make acquisitions in the future and if they do make acquisitions gives no assurance that such acquisitions will be successful. | |||||||||||||
Future Contingent Payments | |||||||||||||
As of December 28, 2013, the Company had one active acquisition agreement whereby additional contingent consideration may be earned. Effective July 1, 2012 the Company acquired certain assets of BGA, LLC (“BGA”) as more fully described below. The Company estimates future contingent payments at December 28, 2013 as follows: | |||||||||||||
Period Ending | |||||||||||||
28-Dec-13 | $ | 313 | |||||||||||
3-Jan-15 | 210 | ||||||||||||
2-Jan-16 | 222 | ||||||||||||
31-Dec-16 | 263 | ||||||||||||
Estimated future contingent consideration payments | $ | 1,008 | |||||||||||
Actual future contingent payments may materially differ from the estimates above. Future contingent payments to be made to BGA are capped at a maximum of $3.0 million cumulatively. The Company estimates future contingent consideration in payments based on forecasted performance and recorded the net present value of those expected payments as of December 28, 2013. The measurement is based on significant inputs that are not observable in the market, which “Fair Value Measurements and Disclosures” (ASU Topic 820-10-35) refers to as Level 3 inputs. | |||||||||||||
During the fiscal years ended December 28, 2013 and December 29, 2012, the Company reduced its liability for contingent consideration by $92 and $135, respectively, which relates to the 2009 acquisition of Project Solutions Group, Inc. and is reflected in other income. The Company paid no contingent consideration during the fiscal years ended December 28, 2013 and December 29, 2012. | |||||||||||||
Short | Long | Total | |||||||||||
Term | Term | ||||||||||||
Contingent consideration balance as of December 29, 2012 | $ | 309 | $ | 713 | $ | 1,022 | |||||||
Liability reduced in current year | (92 | ) | - | (92 | ) | ||||||||
Moved from long term to short term | 306 | (306 | ) | - | |||||||||
Contingent consideration balance as of December 28, 2013 | $ | 523 | $ | 407 | $ | 930 | |||||||
BGA, LLC | |||||||||||||
Effective July 1, 2012, the Company purchased the operating assets of BGA. BGA provides comprehensive multidiscipline engineering solutions across numerous industry sectors including Power Generation (both Nuclear and Fossil), Energy Delivery, Energy Management, Architecture, Commercial Building and Manufacturing. The Company believes that the BGA assembled workforce consists of highly trained and experienced engineers who will greatly assist RCM in executing future growth in revenues. The business acquired in the BGA acquisition will operate as part of the Company’s Engineering segment. The BGA purchase consideration consisted of the following: | |||||||||||||
Cash | $ | 1,292 | |||||||||||
Lease in excess of market, net present value | 469 | ||||||||||||
Contingent consideration, net present value | 930 | ||||||||||||
Total consideration | $ | 2,691 | |||||||||||
The facility lease payments in excess of market value are expected to be incurred over a four year period following the effective date of the BGA acquisition. The acquired above market lease is recorded at its fair value based on the present value, using a discount rate that reflects the risks associated with the acquired lease, equal to the difference between the contractual amounts to be paid under the lease agreement and an estimate of the fair market lease rate at the acquisition date. The shareholders of BGA are eligible to receive post-closing contingent consideration upon BGA exceeding certain base levels of operating income, potentially earned over four years and not to exceed a total of $3.0 million cumulatively. The amount recorded for the contingent consideration represents the acquisition date fair value of expected consideration to be paid based on BGA’s forecasted operating income during the four year period. Expected consideration was valued based on different possible scenarios for projected operating income. Each case was assigned a probability which was used to calculate an estimate of the forecasted future payments. Then a discount rate was applied to these forecasted future payments to determine the acquisition date fair value to be recorded. At the time of the acquisition, the book and tax basis of assets and liabilities acquired are the same, except for the above market value lease which gave rise to a deferred tax asset as shown below. | |||||||||||||
The acquisition has been accounted for under the purchase method of accounting. The total estimated purchase price has been allocated as follows: | |||||||||||||
Fixed assets | $ | 28 | |||||||||||
Restricted covenants | 70 | ||||||||||||
Customer relationships | 180 | ||||||||||||
Deferred tax asset | 187 | ||||||||||||
Goodwill | 2,226 | ||||||||||||
Total consideration | $ | 2,691 | |||||||||||
The primary item that generated goodwill was the acquisition of a highly skilled and trained assembled workforce of engineers that the Company anticipates will allow it to win contract awards from its current and future customer base that the Company would not otherwise win. | |||||||||||||
Pro Forma Results of Operations | |||||||||||||
The following (unaudited) results of operations have been prepared assuming the BGA acquisition had occurred as of the beginning of the fifty-two week period ended December 29, 2012. Those results are not necessarily indicative of results of future operations or of results that would have occurred had the acquisition occurred as of the beginning of the period presented. | |||||||||||||
Proforma Results | |||||||||||||
for the | |||||||||||||
Fiscal Year Ended | |||||||||||||
29-Dec-12 | |||||||||||||
Revenues | $ | 148,420 | |||||||||||
Operating income | $ | 5,363 | |||||||||||
Basic and diluted earnings per share | $ | 0.26 | |||||||||||
Note_7_Goodwill
Note 7 - Goodwill | 12 Months Ended |
Dec. 28, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Goodwill Disclosure [Text Block] | ' |
7. GOODWILL | |
Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired in business combinations. The Company is required to assess the carrying value of its reporting units that contain goodwill at least on an annual basis. The Company has the option to first assess qualitative factors to determine whether it is necessary to perform a two-step impairment test. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than the carrying value, the quantitative impairment test is required. The Company formally assesses these qualitative factors, and if necessary, conducts its annual goodwill impairment test as of the last day of the Company’s fiscal November each year or if indicators of impairment exist. The Company has determined that the qualitative factors that exist do not suggest that an impairment of goodwill exists. | |
The carrying amount of goodwill at both December 28, 2013 and December 29, 2012 for the Company’s Engineering, Information Technology and Specialty Health Care segments was $2,326, $5,516 and $1,703, respectively. |
Note_8_Intangible_Assets
Note 8 - Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||
8. INTANGIBLE ASSETS | |||||||||||||
The changes in the carrying amount of intangible assets for the fiscal years ended December 28, 2013 and December 29, 2012 are as follows: | |||||||||||||
Engineering | Information | Total | |||||||||||
Technology | |||||||||||||
Balance as of December 31, 2011 | $ | - | $ | 210 | $ | 210 | |||||||
Intangibles acquired | 250 | - | 250 | ||||||||||
Amortization of intangibles during fiscal 2012 | (24 | ) | (104 | ) | (128 | ) | |||||||
Balance as of December 29, 2012 | $ | 226 | $ | 106 | $ | 332 | |||||||
Amortization of intangibles during fiscal 2013 | (47 | ) | (69 | ) | (116 | ) | |||||||
Balance as of December 28, 2013 | $ | 179 | $ | 37 | $ | 216 | |||||||
Schedule of Intangible Assets by class at December 28, 2013: | |||||||||||||
Engineering | Information | Total | |||||||||||
Technology | |||||||||||||
Restricted covenants | $ | 44 | $ | - | $ | 44 | |||||||
Customer relationships | 135 | 37 | 172 | ||||||||||
Balance as of December 28, 2013 | $ | 179 | $ | 37 | $ | 216 | |||||||
Expected Future Amortization Expense: | |||||||||||||
Fiscal Year | Engineering | Information | Total | ||||||||||
Technology | |||||||||||||
2014 | $ | 47 | $ | 32 | $ | 79 | |||||||
2015 | 48 | 5 | 53 | ||||||||||
2016 | 39 | - | 39 | ||||||||||
2017 | 30 | - | 30 | ||||||||||
2018 | 15 | - | 15 | ||||||||||
Total | $ | 179 | $ | 37 | $ | 216 | |||||||
Note_9_Line_of_Credit
Note 9 - Line of Credit | 12 Months Ended |
Dec. 28, 2013 | |
Disclosure Text Block [Abstract] | ' |
Short-term Debt [Text Block] | ' |
9. LINE OF CREDIT | |
The Company and its subsidiaries are party to a loan agreement with Citizens Bank of Pennsylvania, amended and restated effective February 20, 2009, which provides for a $15 million revolving credit facility and includes a sub-limit of $5 million for letters of credit (the “Revolving Credit Facility”). The Revolving Credit Facility has been amended several times, most recently on December 24, 2011 when the maturity date was extended to August 31, 2016. Borrowings under the Revolving Credit Facility bear interest at one of two alternative rates, as selected by the Company at each incremental borrowing. These alternatives are: (i) LIBOR (London Interbank Offered Rate), plus applicable margin, or (ii) the agent bank’s prime rate. The Company also pays unused line fees based on the amount of the Revolving Credit Facility that is not drawn. Unused line fees are recorded as interest expense. | |
All borrowings under the Revolving Credit Facility are collateralized by all of the assets of the Company and its subsidiaries and a pledge of the stock of its subsidiaries. The Revolving Credit Facility also contains various financial and non-financial covenants, such as restrictions on the Company’s ability to borrow to pay dividends. Since the Company did not borrow in order to fund the dividend paid on December 29, 2012, the Company did not require any waiver under its Revolving Credit Facility. | |
There were no borrowings during the fiscal year ended December 28, 2013 and fiscal year ended December 29, 2012. At December 28, 2013 and December 29, 2012, there were letters of credit outstanding for $0.8 million. At December 28, 2013, the Company had availability for additional borrowings under the Revolving Credit Facility of $14.2 million. |
Note_10_Per_Share_Data
Note 10 - Per Share Data | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share [Text Block] | ' | ||||||||
10. PER SHARE DATA | |||||||||
The Company uses the treasury stock method to calculate the weighted-average shares used for diluted earnings per share. The number of common shares used to calculate basic and diluted earnings per share for fiscal years ended December 28, 2013 and December 29, 2012 was determined as follows: | |||||||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Basic weighted average shares outstanding | 12,343,261 | 12,343,426 | |||||||
Dilutive effect of outstanding stock options | 135,111 | 196,709 | |||||||
Weighted average dilutive shares outstanding | 12,478,372 | 12,540,135 | |||||||
There were 97,500 absolute anti-dilutive shares not included in the calculation of common stock equivalents for both the fiscal year ended December 28, 2013 and December 29, 2012. These were determined to be anti-dilutive because the exercise prices of these shares for the period were higher than the average price of all shares for the same period. | |||||||||
Unissued shares of common stock were reserved for the following purposes: | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Exercise of options outstanding | 276,900 | 307,400 | |||||||
Restricted stock awards outstanding | 300,000 | 350,000 | |||||||
Future grants of options or shares | 34,100 | 34,100 | |||||||
Shares reserved for employee stock purchase plan | 189,576 | 247,752 | |||||||
Total | 800,576 | 939,252 | |||||||
Note_11_Share_Based_Compensati
Note 11 - Share Based Compensation | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||||||||||
11. SHARE BASED COMPENSATION | |||||||||||||||||||||||||||||||
At December 28, 2013, the Company had three share-based employee compensation plans. The Company measures the fair value of share-based awards, if and when granted, based on the Black-Scholes method and using the closing market price of the Company’s common stock on the date of grant. Awards vest over periods ranging from one to three years and expire within 10 years of issuance. Share-based compensation expense related to awards is amortized in accordance with applicable vesting periods using the straight-line method. Share-based compensation expense of $849 and $169 was recognized for the fiscal year ended December 28, 2013 and December 29, 2012, respectively. | |||||||||||||||||||||||||||||||
As of December 28, 2013, the Company had approximately $1.1 million of total unrecognized compensation cost related to all non-vested share-based awards granted under the Company’s various share-based plans, which the Company expects to recognize over approximately a three-year period. These amounts do not include the cost of any additional share-based awards that may be granted in future periods or reflect any potential changes in the Company’s forfeiture rate. | |||||||||||||||||||||||||||||||
The Company granted 5,000 stock options and 40,000 restricted stock units during the fiscal year ended December 28, 2013 and 55,000 stock options and 350,000 restricted stock units during the fiscal year ended December 29, 2012. | |||||||||||||||||||||||||||||||
The risk-free rate of return is based on the yield of U.S. Treasury Strips with terms equal to the expected life of the grants as of the grant date. The expected term of grant is based on historical stock option exercise experience. The Company used its historical stock price volatility to compute the expected stock price volatility. The expected dividend yield is based on the Company’s fiscal 2013 dividend rate. The annual forfeiture rate is based on the Company’s historical experience. The Black-Scholes option weighted average assumptions used in the valuation of share based awards for the fiscal years ended December 28, 2013 and December 29, 2012 were as follows: | |||||||||||||||||||||||||||||||
Fiscal Years Ended | |||||||||||||||||||||||||||||||
December | December | ||||||||||||||||||||||||||||||
28, 2013 | 29, 2012 | ||||||||||||||||||||||||||||||
Weighted average risk-free interest rate | 1.74 | % | 0.71 | % | |||||||||||||||||||||||||||
Expected term of option (years) | 5 | 5 | |||||||||||||||||||||||||||||
Expected stock price volatility | 52 | % | 61 | % | |||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | |||||||||||||||||||||||||||
Annual forfeiture rate | 5.98 | % | 4.68 | % | |||||||||||||||||||||||||||
Weighted-average grant date fair value | $ | 2.94 | $ | 2.85 | |||||||||||||||||||||||||||
1996 Executive Stock Option Plan (the 1996 Plan) | |||||||||||||||||||||||||||||||
The 1996 Plan, approved by the Company’s stockholders in August 1996 and amended in April 1999, provided for the issuance of up to 1,250,000 shares of common stock to officers and key employees of the Company and its subsidiaries through January 1, 2006, at which time the 1996 Plan expired. Options are generally granted at fair market value at the date of grant. The Compensation Committee of the Board of Directors determined the vesting period at the time of grant. As of December 28, 2013, options to purchase 132,000 shares of common stock granted under the 1996 Plan were outstanding. | |||||||||||||||||||||||||||||||
2000 Employee Stock Incentive Plan (the 2000 Plan) | |||||||||||||||||||||||||||||||
The 2000 Plan, approved by the Company’s stockholders in April 2001, provides for the issuance of up to 1,500,000 shares of the Company’s common stock to officers and key employees of the Company and its subsidiaries or to consultants and advisors utilized by the Company. The Compensation Committee of the Board of Directors could award incentive stock options or non-qualified stock options, as well as stock appreciation rights, and determined the vesting period at the time of grant. As of December 28, 2013, options to purchase 70,500 shares of common stock granted under the 2000 Plan were outstanding. | |||||||||||||||||||||||||||||||
The 1996 Plan and 2000 Plan are expired and therefore no shares are available for issuance. | |||||||||||||||||||||||||||||||
2007 Omnibus Equity Compensation Plan (the 2007 Plan) | |||||||||||||||||||||||||||||||
The 2007 Plan, approved by the Company’s stockholders in June 2007, provides for the issuance of up to 700,000 shares of the Company’s common stock to officers, non-employee directors, employees of the Company and its subsidiaries or consultants and advisors utilized by the Company. No more than 350,000 shares of common stock in the aggregate may be issued pursuant to grants of stock awards, stock units, performance shares and other stock-based awards. No more than 300,000 shares of common stock with respect to awards may be granted to any individual during any fiscal year. The Compensation Committee of the Board of Directors determines the vesting period at the time of grant. As of December 28, 2013, under the 2007 Plan, 34,100 shares of common stock were available for future grants and options to purchase 74,400 shares of common stock, as well as 300,000 restricted stock units, were outstanding. | |||||||||||||||||||||||||||||||
Restricted Stock Units | |||||||||||||||||||||||||||||||
On November 16, 2012, the Company granted 350,000 restricted stock units all of which fully vest after three years of continued service. All of these restricted stock units include dividend accrual equivalents, which means that any dividends paid by the Company during the three year vesting period become due and payable after the three year vesting period assuming the grantee’s restricted stock unit fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying consolidated balance sheet. Dividends for restricted share units that ultimately do not vest are forfeited. | |||||||||||||||||||||||||||||||
To date, the Company has only issued restricted stock units under the 2007 Plan. The following summarizes the restricted stock units activity under the 2007 Plan during 2013: | |||||||||||||||||||||||||||||||
Number of Restricted | Weighted Average | ||||||||||||||||||||||||||||||
Stock Units | Grant Date Fair | ||||||||||||||||||||||||||||||
(in thousands) | Value per Share | ||||||||||||||||||||||||||||||
Outstanding non-vested at December 29, 2012 | 350 | $ | 5.62 | ||||||||||||||||||||||||||||
Granted | 40 | ||||||||||||||||||||||||||||||
Vested | (50 | ) | |||||||||||||||||||||||||||||
Forfeited or expired | (40 | ) | |||||||||||||||||||||||||||||
Outstanding non-vested at December 28, 2013 | 300 | $ | 5.72 | ||||||||||||||||||||||||||||
Based on the closing price of the Company’s common stock of $6.95 per share on December 27, 2013, the intrinsic value of the non-vested restricted stock units at December 28, 2013 was $2.1 million. As of December 28, 2013, there was approximately $1.0 million of total unrecognized compensation cost related to restricted stock units, which is expected to be recognized over a weighted-average period of approximately 22.5 months. | |||||||||||||||||||||||||||||||
Stock Option Awards | |||||||||||||||||||||||||||||||
Transactions related to all stock options under all plans are as follows: | |||||||||||||||||||||||||||||||
All Stock Options Outstanding | |||||||||||||||||||||||||||||||
Shares | Weighted Average | ||||||||||||||||||||||||||||||
Exercise Price | |||||||||||||||||||||||||||||||
Options outstanding as of December 31, 2011 | 916,594 | $ | 4.24 | ||||||||||||||||||||||||||||
Options granted | 55,000 | $ | 5.54 | ||||||||||||||||||||||||||||
Options exercised, net | (392,376 | ) | $ | 3.85 | |||||||||||||||||||||||||||
Options forfeited in cashless exercises | (243,268 | ) | |||||||||||||||||||||||||||||
Options forfeited/cancelled | (28,550 | ) | $ | 3.88 | |||||||||||||||||||||||||||
Options outstanding as of December 29, 2012 | 307,400 | $ | 5.34 | ||||||||||||||||||||||||||||
Options exercisable as of December 29, 2012 | 252,400 | $ | 5.29 | ||||||||||||||||||||||||||||
Intrinsic value of outstanding stock options as of December 29, 2012 | $ | 167 | |||||||||||||||||||||||||||||
Intrinsic value of stock options exercised in fiscal year ended December 29, 2012 | $ | 1,468 | |||||||||||||||||||||||||||||
Weighted average grant date fair value of stock options issued during fiscal year ended December 29, 2012 | $ | 2.85 | |||||||||||||||||||||||||||||
Options outstanding as of December 29, 2012 | 307,400 | $ | 5.34 | ||||||||||||||||||||||||||||
Options granted | 5,000 | $ | 5.78 | ||||||||||||||||||||||||||||
Options exercised, net | (27,500 | ) | $ | 4.15 | |||||||||||||||||||||||||||
Options forfeited/cancelled | (8,000 | ) | $ | 5.16 | |||||||||||||||||||||||||||
Options outstanding as of December 28, 2013 | 276,900 | $ | 5.47 | ||||||||||||||||||||||||||||
Options exercisable as of December 28, 2013 | 221,900 | $ | 5.45 | ||||||||||||||||||||||||||||
Intrinsic value of outstanding stock options as of December 28, 2013 | $ | 504 | |||||||||||||||||||||||||||||
Intrinsic value of stock options exercised in fiscal year ended December 28, 2013 | $ | 44 | |||||||||||||||||||||||||||||
Weighted average grant date fair value of stock options issued during fiscal year ended December 28, 2013 | $ | 2.94 | |||||||||||||||||||||||||||||
A summary of the status of our nonvested stock options outstanding as of December 28, 2013, and changes during the year then ended is presented as follows: | |||||||||||||||||||||||||||||||
Nonvested Stock Options | Shares | Weighed-Average | |||||||||||||||||||||||||||||
Grant-Date | |||||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||||
Nonvested at December 29, 2012 | 55,000 | $ | 2.85 | ||||||||||||||||||||||||||||
Vested | 0 | ||||||||||||||||||||||||||||||
Forfeited | (5,000 | ) | $ | 2.88 | |||||||||||||||||||||||||||
Issued nonvested | 5,000 | $ | 2.94 | ||||||||||||||||||||||||||||
Nonvested at December 28, 2013 | 55,000 | $ | 2.86 | ||||||||||||||||||||||||||||
The following table summarizes information about stock options outstanding at December 28, 2013: | |||||||||||||||||||||||||||||||
Range of | Number of | Weighted-Average | Weighted-Average | ||||||||||||||||||||||||||||
Exercise Prices | Outstanding Options | Remaining | Exercise Price | ||||||||||||||||||||||||||||
Contractual Life | |||||||||||||||||||||||||||||||
Outstanding | Vested | Outstanding | Vested | Outstanding | Vested | ||||||||||||||||||||||||||
$2.50 | - | $2.50 | 1,000 | 1,000 | 5.96 | 5.96 | $ | 2.5 | $ | 2.5 | |||||||||||||||||||||
$4.16 | - | $5.78 | 233,400 | 178,400 | 3.41 | 1.8 | $ | 4.82 | $ | 4.6 | |||||||||||||||||||||
$6.44 | - | $9.16 | 17,500 | 17,500 | 1.06 | 1.06 | $ | 8.01 | $ | 8.01 | |||||||||||||||||||||
$9.81 | - | $9.81 | 25,000 | 25,000 | 3.55 | 3.55 | $ | 9.81 | $ | 9.81 | |||||||||||||||||||||
276,900 | 221,900 | 3.28 | 1.96 | $ | 5.47 | $ | 5.45 | ||||||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||||||||||
The Company implemented the 2001 Employee Stock Purchase Plan (the “Purchase Plan”) with shareholder approval, effective January 1, 2001. Under the Purchase Plan, employees meeting certain specific employment qualifications are eligible to participate and can purchase shares of common stock semi-annually through payroll deductions at the lower of 85% of the fair market value of the stock at the commencement or end of the offering period. The purchase plan permits eligible employees to purchase shares of common stock through payroll deductions for up to 10% of qualified compensation. During the fiscal years ended December 28, 2013 and December 29, 2012, there were 58,176 and 29,205 shares issued under the Purchase Plan for net proceeds of $259 and $128, respectively. As of December 28, 2013, there were 189,576 shares available for issuance under the Purchase Plan. Compensation expense, representing the discount to the quoted market price, for the Purchase Plan for the fiscal years ended December 28, 2013 and December 29, 2012 was $106 and $65, respectively. |
Note_12_Treasury_Stock_Transac
Note 12 - Treasury Stock Transactions | 12 Months Ended |
Dec. 28, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Treasury Stock [Text Block] | ' |
12. TREASURY STOCK TRANSACTIONS | |
Our Board of Directors instituted a share repurchase program in February 2010, which authorized the repurchase of up to $7.5 million of the Company’s outstanding shares of our common stock at prevailing market prices, from time to time over the subsequent 12 months. In February 2011, the share repurchase program was extended through February 2013. During the fiscal year ended December 28, 2013, the Company repurchased 15,450 shares for an average price of $5.35 per share. Since the inception of its share repurchase program and through December 28, 2013, the Company has purchased 1,473,306 shares at a total cost of approximately $7.5 million, or an average price of $5.09. As of January 4, 2013, the Company used 100% of the funds approved by its Board of Directors in February 2010 to repurchase the Company’s common stock. | |
On October 28, 2013, the Board of Directors authorized an additional repurchase program to purchase up to $5.0 million of outstanding shares of common stock at the prevailing market prices, from time to time over the subsequent 12-month period. As of December 28, 2013, the Company had not purchased any shares under this additional repurchase program. |
Note_13_New_Accounting_Standar
Note 13 - New Accounting Standards | 12 Months Ended |
Dec. 28, 2013 | |
Table Text Block [Abstract] | ' |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | ' |
13. NEW ACCOUNTING STANDARDS | |
In February 2013, the FASB issued ASU 2013-02 “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income”. This update requires companies to present the effects on the line items of net income of significant reclassifications out of accumulated other comprehensive income if the amount being reclassified is required under U.S. generally accepted accounting principles (“GAAP”) to be reclassified in its entirety to net income in the same reporting period. ASU 2013-02 is effective prospectively for the Company for fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company’s adoption of the amended guidance did not have a significant impact on its consolidated financial statements. | |
Other accounting standards that have been issued or proposed by the FASB and SEC and/or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. |
Note_14_Segment_Information
Note 14 - Segment Information | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||
14. SEGMENT INFORMATION | |||||||||||||||||||||
The Company follows “Disclosures about Segments of an Enterprise and Related Information,” which establishes standards for companies to report information about operating segments, geographic areas and major customers. The accounting policies of each segment are the same as those described in the summary of significant accounting policies (see Note 1 to the Company’s Consolidated Financial Statements included in its Annual Report on Form 10-K for the year ended December 28, 2013.) | |||||||||||||||||||||
Segment operating income includes selling, general and administrative expenses directly attributable to that segment as well as charges for allocating corporate costs to each of the operating segments. The following tables reflect the results of the segments consistent with the Company’s management system: | |||||||||||||||||||||
Fiscal Year Ended | Engineering | Information | Specialty | Corporate | Total | ||||||||||||||||
28-Dec-13 | Technology | Health Care | |||||||||||||||||||
Revenue | $ | 86,742 | $ | 55,263 | $ | 28,773 | $ | - | $ | 170,778 | |||||||||||
Cost of services | 67,005 | 39,412 | 20,000 | - | 126,417 | ||||||||||||||||
Selling, general and administrative | 14,357 | 13,540 | 7,617 | - | 35,514 | ||||||||||||||||
Non-recurring charges | 342 | 142 | - | 4,697 | 5,181 | ||||||||||||||||
Depreciation and amortization | 702 | 300 | 109 | - | 1,111 | ||||||||||||||||
Operating income | $ | 4,336 | $ | 1,869 | $ | 1,047 | $ | (4,697 | ) | $ | 2,555 | ||||||||||
Total assets | $ | 42,951 | $ | 14,472 | $ | 14,334 | $ | 14,767 | $ | 86,524 | |||||||||||
Capital expenditures | $ | 1,142 | $ | 78 | $ | 35 | $ | 151 | $ | 1,406 | |||||||||||
Fiscal Year Ended | Engineering | Information | Specialty | Corporate | Total | ||||||||||||||||
29-Dec-12 | Technology | Health Care | |||||||||||||||||||
Revenue | $ | 66,631 | $ | 52,165 | $ | 27,021 | $ | - | $ | 145,817 | |||||||||||
Cost of services | 50,733 | 36,931 | 18,438 | - | 106,102 | ||||||||||||||||
Selling, general and administrative | 12,124 | 13,703 | 7,339 | - | 33,166 | ||||||||||||||||
Depreciation and amortization | 720 | 477 | 124 | - | 1,321 | ||||||||||||||||
Operating income | $ | 3,054 | $ | 1,054 | $ | 1,120 | $ | - | $ | 5,228 | |||||||||||
Total assets | $ | 39,441 | $ | 15,494 | $ | 10,419 | $ | 19,194 | $ | 84,548 | |||||||||||
Capital expenditures | $ | 340 | $ | 59 | $ | 8 | $ | 104 | $ | 511 | |||||||||||
The Company derives a majority of its revenue from offices in the United States. Revenues reported for each operating segment are all from external customers. The Company is domiciled in the United States and its segments operate in the United States, Canada and Puerto Rico. Revenues by geographic area for the fiscal years ended December 28, 2013 and December 29, 2012 are as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
December 28, | December 29, | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Revenues | |||||||||||||||||||||
United States | $ | 130,589 | $ | 120,327 | |||||||||||||||||
Canada | 34,989 | 20,641 | |||||||||||||||||||
Puerto Rico | 5,200 | 4,849 | |||||||||||||||||||
$ | 170,778 | $ | 145,817 | ||||||||||||||||||
Total assets by geographic area as of the reported periods are as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
December 28, | December 29, | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Total Assets | |||||||||||||||||||||
United States | $ | 62,198 | $ | 68,364 | |||||||||||||||||
Canada | 22,993 | 14,612 | |||||||||||||||||||
Puerto Rico | 1,333 | 1,572 | |||||||||||||||||||
$ | 86,524 | $ | 84,548 | ||||||||||||||||||
Note_15_Income_Taxes
Note 15 - Income Taxes | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
15. INCOME TAXES | |||||||||
The components of income tax expense (benefit) from continuing operations are as follows: | |||||||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Current | |||||||||
Federal | $ | 450 | $ | 1,028 | |||||
State and local | 407 | 420 | |||||||
Foreign | 416 | (129 | ) | ||||||
1,273 | 1,319 | ||||||||
Deferred | |||||||||
Federal | (541 | ) | 617 | ||||||
State | (157 | ) | 179 | ||||||
Foreign | 22 | (12 | ) | ||||||
(676 | ) | 784 | |||||||
Total | $ | 597 | $ | 2,103 | |||||
The components of earnings before income taxes by United States and foreign jurisdictions were as follows: | |||||||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
United States | $ | 1,175 | $ | 5,790 | |||||
Foreign Jurisdictions | 1,412 | (460 | ) | ||||||
$ | 2,587 | $ | 5,330 | ||||||
The consolidated effective income tax rate for the current year was 24.1% as compared to 39.5% for the comparable prior year period, principally due to the reversal of liability for the uncertain tax position in the current year. The income tax provisions for continuing operations reconciled to the tax computed at the statutory Federal rate are: | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Tax at statutory rate (credit) | 34 | % | 34 | % | |||||
State income taxes, net of Federal income tax benefit | 6.5 | 7.4 | |||||||
Permanent differences | 2.6 | (2.4 | ) | ||||||
Foreign income tax rate | (1.6 | ) | 0.3 | ||||||
Reverse liability for amended return | (18.3 | ) | - | ||||||
Other, net | 0.9 | 0.2 | |||||||
Total income tax expense | 24.1 | % | 39.5 | % | |||||
A reconciliation of the unrecognized tax benefits for the year December 28, 2013: | |||||||||
Unrecognized Tax Benefits | |||||||||
Balance as of December 29, 2012 | $ | 473 | |||||||
Charges for current year tax positions | (473 | ) | |||||||
Reserves for current year tax position | 628 | ||||||||
Balance as of December 28, 2013 | $ | 628 | |||||||
The total amount of unrecognized tax benefits relating to the Company’s tax positions is subject to change based on future events including, but not limited to, the settlements of ongoing audits and/or the expiration of applicable statutes of limitations. Although the outcomes and timing of such events are highly uncertain, it is reasonably possible that the balance of gross unrecognized tax benefits will not change during the next 12 months. However, changes in the occurrence, expected outcomes and timing of those events could cause the Company’s current estimate to change materially in the future. | |||||||||
The Company accounts for penalties or interest related to uncertain tax positions as part of its provision for income taxes and records such amounts to interest expense. The Company recorded no expense for penalties or interest in the fiscal years ended December 28, 2013 and December 29, 2012. | |||||||||
At December 28, 2013 and December 29, 2012, deferred tax assets and liabilities consist of the following: | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Deferred tax assets: | |||||||||
Allowance for doubtful accounts | $ | 391 | $ | 483 | |||||
Acquisition amortization, net | 1,642 | 2,214 | |||||||
Reserves and accruals | 1,556 | 432 | |||||||
Other | 338 | 179 | |||||||
Total deferred tax assets | 3,927 | 3,308 | |||||||
Deferred tax liabilities: | |||||||||
Prepaid expense deferral | (367 | ) | (436 | ) | |||||
Bonus depreciation to be reversed | (118 | ) | (129 | ) | |||||
Canada deferred tax liability, net | (132 | ) | (73 | ) | |||||
Total deferred tax liabilities | (617 | ) | (638 | ) | |||||
Total deferred tax assets, net | $ | 3,310 | $ | 2,670 | |||||
The Company conducts its operations in multiple tax jurisdictions in the United States, Canada and Puerto Rico. The Company and its subsidiaries file a consolidated U.S. Federal income tax return and file in various states. The Company’s federal income tax returns have been examined through 2010. With limited exceptions, the Company is no longer subject to audits by state and local tax authorities for tax years prior to 2009. |
Note_16_Contingencies
Note 16 - Contingencies | 12 Months Ended |
Dec. 28, 2013 | |
Loss Contingency [Abstract] | ' |
Contingencies Disclosure [Text Block] | ' |
16. CONTINGENCIES | |
From time to time, the Company is a defendant or plaintiff in various legal actions that arise in the normal course of business. As such, the Company is required to assess the likelihood of any adverse outcomes to these matters as well as potential ranges of losses and possible recoveries. The Company may not be covered by insurance as it pertains to some or all of these matters. A determination of the amount of the provision required for these commitments and contingencies, if any, which would be charged to earnings, is made after careful analysis of each matter. Once established, a provision may change in the future due to new developments or changes in circumstances, and could increase or decrease the Company’s earnings in the period that the changes are made. Included in the Company’s accounts payable and accrued expenses is a provision for losses from legal matters aggregating approximately $0.2 million as of December 28, 2013 and December 29, 2012. Asserted claims in these matters seek approximately $10.7 million in damages as of December 28, 2013. | |
The Company is also subject to other pending legal proceedings and claims that arise from time to time in the ordinary course of its business, which may not be covered by insurance. |
Note_17_Retirement_Plans
Note 17 - Retirement Plans | 12 Months Ended |
Dec. 28, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
17. RETIREMENT PLANS | |
Profit Sharing Plan | |
The Company maintains a 401(k) profit sharing plan for the benefit of eligible employees in the United States and other similar plans in Canada and Puerto Rico (the “Retirement Plans”). The 401(k) plan includes a cash or deferred arrangement pursuant to Section 401(k) of the Internal Revenue Code sponsored by the Company to provide eligible employees an opportunity to defer compensation and have such deferred amounts contributed to the 401(k) plan on a pre-tax basis, subject to certain limitations. The Company, at the discretion of the Board of Directors, may make contributions of cash to match deferrals of compensation by participants in the Retirement Plans. Contributions to the Retirement Plans charged to operations by the Company for the fiscal years ended December 28, 2013 and December 29, 2012 were $424 and $373, respectively. |
Note_18_Commitments
Note 18 - Commitments | 12 Months Ended | ||||
Dec. 28, 2013 | |||||
Disclosure Text Block Supplement [Abstract] | ' | ||||
Commitments Disclosure [Text Block] | ' | ||||
18. COMMITMENTS | |||||
Executive Severance Agreements with Kevin Miller and Rocco Campanelli | |||||
The Company is a party to Executive Severance Agreements (the “Executive Severance Agreements”) with Rocco Campanelli, the Company’s President and Chief Executive Officer as of February 28, 2014, and Kevin Miller, the Company’s Chief Financial Officer, which set forth the terms and conditions of certain payments to be made by the Company to each executive in the event, while employed by the Company, such executive experiences (a) a termination of employment unrelated to a “Change in Control” (as defined therein) or (b) there occurs a Change in Control and either (i) the executive’s employment is terminated for a reason related to the Change in Control or (ii) the executive remains continuously employed with the Company for a specified period of time following the Change in Control (i.e., twelve months for Mr. Campanelli and three months for Mr. Miller). | |||||
Under the terms of the Executive Severance Agreements, if either (a) the executive is involuntarily terminated by the Company for any reason other than “Cause” (as defined therein), “Disability” (as defined therein) or death, or (b) the executive resigns for “Good Reason” (as defined therein), and, in each case, the termination is not a “Termination Related to a Change in Control” (as defined below), the executive will receive the following severance payments: (i) an amount equal to 1.5 times the sum of (a) the executive’s annual base salary as in effect immediately prior to the termination date (before taking into account any reduction that constitutes Good Reason) (“Annual Base Salary”) and (b) the highest annual bonus paid to the executive in any of the three fiscal years immediately preceding the executive’s termination date (“Bonus”), to be paid in installments over the twelve month period following the executive’s termination date; and (ii) for a period of eighteen months following the executive’s termination date, a monthly payment equal to the monthly COBRA premium that the executive is required to pay to continue medical, vision, and dental coverage, for himself and, where applicable, his spouse and eligible dependents. | |||||
Notwithstanding the above, if the executive has a termination as described above and can reasonably demonstrate that such termination would constitute a Termination Related to a Change in Control, and a Change in Control occurs within 120 days following the executive’s termination date, the executive will be entitled to receive the payments set forth below for a Termination Related to a Change in Control, less any amounts already paid to the executive, upon consummation of the Change in Control. | |||||
Under the terms of the Executive Severance Agreements, if a Change in Control occurs and (a) the executive experiences a Termination Related to a Change in Control on account of (i) an involuntary termination by the Company for any reason other than Cause, death, or Disability, (ii) an involuntary termination by the Company within a specified period of time following a Change in Control (i.e., twelve months for Mr. Campanelli and three months for Mr. Miller) on account of Disability or death, or (iii) a resignation by the executive with Good Reason; or (b) a resignation by the executive, with or without Good Reason, which results in a termination date that is the last day of the specified period (i.e., twelve months for Mr. Campanelli and three months for Mr. Miller) following a Change in Control, then the executive will receive the following severance payments: (1) a lump sum payment equal to two times the sum of the executive’s (a) Annual Base Salary and (b) Bonus; and (2) a lump sum payment equal to twenty-four multiplied by the monthly COBRA premium cost, as in effect immediately prior to the executive’s termination date, for the executive to continue medical, dental and vision coverage, as applicable, in such Company plans for himself and, if applicable, his spouse and eligible dependents. | |||||
Executive Severance Agreements with Kevin Miller and Rocco Campanelli (Continued) | |||||
The Executive Severance Agreements provide that if the executive remains continuously employed for a specified period of time following a Change in Control (i.e., twelve months for Mr. Campanelli and three months for Mr. Miller) and is employed by the Company on the last day of such specified period, the executive will receive a lump sum payment equal to two times the sum of the executive’s (a) Annual Base Salary and (b) Bonus (the “Change in Control Payment”). If the executive receives the Change in Control Payment, the executive will not be eligible to receive any severance payments under his Executive Severance Agreement. | |||||
As of December 28, 2013, the Company also had various employment arrangements with Mr. Kopyt. Mr. Kopyt will retire effective on February 28, 2014 and his severance arrangements will be in accordance with the Separation Agreement and General Release between him and the Company entered into as of January 22, 2014. | |||||
Operating Leases | |||||
The Company leases office facilities and various equipment under non-cancelable leases expiring at various dates through June 2020. Certain leases are subject to escalation clauses based upon changes in various factors. The minimum future annual operating lease commitments for leases with non-cancelable terms, exclusive of unknown operating escalation charges, are as follows ($ in thousands): | |||||
Fiscal Years | Amount | ||||
2014 | $ | 2,904 | |||
2015 | 2,601 | ||||
2016 | 1,863 | ||||
2017 | 1,509 | ||||
2018 | 1,302 | ||||
Thereafter | 508 | ||||
Total | $ | 10,687 | |||
Rent expense for the fiscal years ended December 28, 2013 and December 29, 2012 was $2,896 and $2,978, respectively. | |||||
The Company subleases space to other tenants at various office locations under cancelable lease agreements. During the fiscal years ended December 28, 2013 and December 29, 2012 payments of approximately $203 and $356, respectively, were received under these leasing arrangements. The Company offsets these payments against its rent expense for reporting purposes. |
Note_19_Related_Party_Transact
Note 19 - Related Party Transactions | 12 Months Ended |
Dec. 28, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
19. RELATED PARTY TRANSACTIONS | |
Richard Machon, a director of the Company, from time to time provides consulting services to the Company or for clients of the Company through Mr. Machon’s company, Machon & Associates. The Company paid Machon & Associates $43 and $45 during the fiscal years ended December 28, 2013 and December 29, 2012, respectively. |
Note_20_Selected_Quarterly_Fin
Note 20 - Selected Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||||||
20. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||||||||
Fiscal Year Ended December 28, 2013 | |||||||||||||||||||||
Sales | Gross | Operating | Net | Diluted | |||||||||||||||||
Profit | Income | Income | Income | ||||||||||||||||||
Per Share | |||||||||||||||||||||
1st Quarter | $ | 41,230 | $ | 10,621 | $ | 1,514 | $ | 960 | $ | 0.08 | |||||||||||
2nd Quarter | 42,379 | 11,262 | 1,714 | 1,470 | 0.12 | ||||||||||||||||
3rd Quarter | 41,320 | 10,684 | 1,806 | 1,142 | 0.09 | ||||||||||||||||
4th Quarter* | 45,849 | 11,794 | (2,479 | ) | (1,582 | ) | (0.13 | ) | |||||||||||||
Total | $ | 170,778 | $ | 44,361 | $ | 2,555 | $ | 1,990 | $ | 0.16 | |||||||||||
*Includes severance and other charges of $4.8 million (see note 21). | |||||||||||||||||||||
Fiscal Year Ended December 29, 2012 | |||||||||||||||||||||
Sales | Gross | Operating | Net | Diluted | |||||||||||||||||
Profit | Income | Income | Income | ||||||||||||||||||
Per Share | |||||||||||||||||||||
1st Quarter | $ | 38,206 | $ | 10,285 | $ | 1,776 | $ | 1,059 | $ | 0.08 | |||||||||||
2nd Quarter | 35,753 | 9,656 | 1,015 | 505 | 0.04 | ||||||||||||||||
3rd Quarter | 34,839 | 9,675 | 1,107 | 634 | 0.05 | ||||||||||||||||
4th Quarter | 37,019 | 10,099 | 1,330 | 1,029 | 0.09 | ||||||||||||||||
Total | $ | 145,817 | $ | 39,715 | $ | 5,228 | $ | 3,227 | $ | 0.26 | |||||||||||
Note_21_Restructuring_and_Othe
Note 21 - Restructuring and Other Charges | 12 Months Ended |
Dec. 28, 2013 | |
Restructuring and Related Activities [Abstract] | ' |
Restructuring and Related Activities Disclosure [Text Block] | ' |
21. SEVERANCE AND OTHER CHARGES | |
The Company recognized $5.2 million in severance and other charges for the fiscal year ended December 28, 2013 as compared to zero for the comparable prior year period. The Company incurred expenses of $4.5 million related to events leading to the election to our Board of Directors on December 5, 2013 of two candidates nominated by a group of our stockholders and the subsequent retirement of Leon Kopyt, the Company’s President and Chief Executive Officer. The Company incurred severance and other related expenses of $2.9 million as a result of the voluntary retirement of Mr. Kopyt. In December 2013, Mr. Kopyt notified the Company of his intention to retire and offered to negotiate a lower severance amount than he would have been otherwise contractually entitled to under his severance agreement upon change of control of the Company. The negotiation with Mr. Kopyt was conducted as the central part of a global settlement agreement with Legion Partners. The Company, Legion Partners and Mr. Kopyt agreed on the reduced severance amount in fiscal 2013 contingent upon other provisions ultimately finalized in an agreement signed on January 22, 2014. Mr. Kopyt's retirement became effective on February 28, 2014. The Company also incurred $1.6 million related to the proxy contest leading to the December 5, 2013 annual meeting, consisting of $1.0 million incurred by the Company and $0.6 million incurred by the stockholder group, which the Company agreed to reimburse. | |
The Company also incurred $0.5 million in facilities consolidation charges and $0.2 million in professional fees related to a research and development tax credit study. The facilities consolidation charges were incurred because the Company’s Canadian operations elected to consolidate its Mississauga location into its expanded Pickering location and closed its Mason, Ohio office. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
SCHEDULE II | |||||||||||||||||
RCM TECHNOLOGIES, INC. AND SUBSIDIARIES | |||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | |||||||||||||||||
Fiscal Years Ended December 28, 2013 and December 29, 2012 | |||||||||||||||||
(Dollars in thousands, except share and per share amounts, unless otherwise indicated) | |||||||||||||||||
Column A | Column B | Column C | Column D | Column E | |||||||||||||
Description | Balance at | Charged to | Deduction | Balance at | |||||||||||||
Beginning | Costs and | End of | |||||||||||||||
of Period | Expenses | Period | |||||||||||||||
Fiscal Year Ended December 28, 2013 | |||||||||||||||||
Allowance for doubtful accounts on trade receivables | $ | 1,207 | $ | 301 | $ | (530 | ) | $ | 978 | ||||||||
Provision for contingencies for legal matters | $ | 175 | $ | 88 | $ | (75 | ) | $ | 188 | ||||||||
Fiscal Year Ended December 29, 2012 | |||||||||||||||||
Allowance for doubtful accounts on trade receivables | $ | 1,455 | $ | 150 | $ | 398 | $ | 1,207 | |||||||||
Provision for contingencies for legal matters | $ | 340 | $ | 25 | $ | 190 | $ | 175 | |||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents | |
The Company considers its holdings of highly liquid money-market instruments and certificates of deposits to be cash equivalents if the securities mature within 90 days from the date of acquisition. These investments are carried at cost, which approximates fair value. The Company’s cash balances are maintained in accounts held by major banks and financial institutions. The majority of these balances exceed federally insured amounts. At December 28, 2013 and December 29, 2012, $3.3 million and $3.1 million, respectively, of cash and cash equivalents were held in Canadian banks. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Fair Value of Financial Instruments | |
The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable, transit accounts payable and accrued expenses, approximates fair value due to their liquidity or their short-term nature. The Company does not have derivative products in place to manage risks related to foreign currency fluctuations for its foreign operations or for interest rate changes. | |
Receivables, Policy [Policy Text Block] | ' |
Accounts Receivable and Allowance for Doubtful Accounts | |
The Company’s accounts receivable are primarily due from trade customers. Credit is extended based on evaluation of customers’ financial condition and, generally, collateral is not required. Accounts receivable payment terms vary and are stated in the financial statements at amounts due from customers net of an allowance for doubtful accounts. Accounts outstanding longer than the payment terms are considered past due. The Company determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, the Company’s previous loss history, the customer’s current ability to pay its obligation to the Company, and the condition of the general economy and the industry as a whole. The Company writes off accounts receivable when they become uncollectible, and payments subsequently received on such receivables previously written off are credited to bad debt expense. | |
Accrued and Unbilled Accounts Receivable and Work in Process [Policy Text Block] | ' |
Accrued and Unbilled Accounts Receivable and Work-in-Process | |
Unbilled receivables primarily represent revenues earned whereby those services are ready to be billed as of the balance sheet ending date. Work-in-process primarily represents revenues earned under contracts which the Company is contractually precluded from invoicing until future dates as project milestones are realized. See Note 4 for further details. | |
Transit Receivable and Transit Payable [Policy Text Block] | ' |
Transit Receivables and Transit Payables | |
From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company: a) engages subcontractors to provide construction services; b) typically earns a fixed percentage of the total project value as a management fee and c) assumes no ownership or risks of inventory. In such situations, the Company acts as an agent under the provisions of “Overall Considerations of Reporting Revenue Gross as a Principal versus Net as an Agent” and therefore recognizes revenue on a “net basis.” Under the terms of the agreements, the Company is not typically required to pay the subcontractor until after the corresponding payment from the Company’s end client is received. Upon invoicing the end client on behalf of the subcontractor the Company records this amount simultaneously as both a “transit account receivable” and “transit account payable” as the amount (when paid to the Company) is due to and generally paid to the subcontractor within a few days. At any given point in time, the Company’s transit accounts receivable usually equal the transit accounts payable. However, the transit accounts payable will occasionally exceed the transit accounts receivable due to timing differences. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property and Equipment | |
Property and equipment are stated at cost net of accumulated depreciation and amortization and are depreciated on the straight-line method at rates calculated to provide for retirement of assets at the end of their estimated useful lives. The Company’s ERP software system, installed in 1999 and upgraded in 2004, is being depreciated over fifteen years. The Company’s VOIP telephone system, the installation of which was substantially complete at the end of 2008, is being depreciated over seven years. All other hardware and software as well as furniture and office equipment is depreciated over five years. Leasehold improvements are depreciated over the shorter of the estimated life of the asset or the lease term. The Company anticipates that it will enhance its current financial reporting and accounting system platform sometime in fiscal 2014. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' |
Intangible Assets | |
The Company’s intangible assets have been generated through acquisitions. The Company maintains responsibility for valuing and determining the useful life of intangible assets and typically engages a third party valuation firm to assist them. As a general rule, the Company amortizes restricted covenants over four years and customer relationships over six years. However, circumstances may dictate other amortization terms as determined by the Company and their third party advisors. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' |
Goodwill | |
Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired in business combinations. The Company is required to assess the carrying value of its reporting units that contain goodwill at least on an annual basis in order to determine if any impairment in value has occurred. The Company has the option to first assess qualitative factors to determine whether it is necessary to perform a two-step impairment test. An assessment of those qualitative factors or the application of the goodwill impairment test requires significant judgment including but not limited to the assessment of the business, its management and general market conditions, estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for the businesses, the useful life over which cash flows will occur and determination of weighted average cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions on goodwill impairment for each reporting unit. The Company formally assesses these qualitative factors and, if necessary, conducts its annual goodwill impairment test as of the last day of the Company’s fiscal November each year, or more frequently if indicators of impairment exist. The Company periodically analyzes whether any such indicators of impairment exist. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include a sustained, significant decline in share price and market capitalization, a decline in expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, a material change in management or its key personnel and/or slower expected growth rates, among others. Due to the thin trading of the Company stock in the public marketplace and the impact of the control premium held by a relatively few shareholders, the Company does not consider the market capitalization of the Company the most appropriate measure of fair value of goodwill for our reporting units. The Company looks to earnings/revenue multiples of similar companies recently completing acquisitions and the ability of our reporting units to generate cash flows as better measures of the fair value of our reporting units. The Company determined there was no impairment during the fiscal years ended December 28, 2013 and December 29, 2012. In both years, the Company determined that is was only necessary to assess qualitative factors and therefore did not perform a two-step impairment test. | |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ' |
Long-Lived Assets | |
The Company accounts for long-lived assets in accordance with “Accounting for the Impairment or Disposal of Long-Lived Assets.” Management periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Any impairment is measured by the amount that the carrying value of such assets exceeds their fair value, primarily based on estimated discounted cash flows. Considerable management judgment is necessary to estimate the fair value of assets. Assets to be disposed of are carried at the lower of their financial statement carrying amount or fair value, less cost to sell. | |
Research, Development, and Computer Software, Policy [Policy Text Block] | ' |
Software | |
In accordance with “Accounting for Costs of Computer Software Developed or Obtained for Internal Use,” certain costs related to the development or purchase of internal-use software are capitalized and amortized over the estimated useful life of the software. During the fiscal years ended December 28, 2013 and December 29, 2012, the Company capitalized approximately $443 and $101, respectively, for software costs. At December 28, 2013 the net balance after accumulated depreciation for all software costs capitalized was $505. | |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes | |
The Company makes judgments and interpretations based on enacted tax laws, published tax guidance, as well as estimates of future earnings. These judgments and interpretations affect the provision for income taxes, deferred tax assets and liabilities and the valuation allowance. We evaluated the deferred tax assets and determined on the basis of objective factors that the net assets will be realized through future years’ taxable income. In the event that actual results differ from these estimates and assessments, additional valuation allowances may be required. | |
The Company accounts for income taxes in accordance with “Accounting for Income Taxes” which requires an asset and liability approach of accounting for income taxes. “Accounting for Income Taxes” requires assessment of the likelihood of realizing benefits associated with deferred tax assets for purposes of determining whether a valuation allowance is needed for such deferred tax assets. The Company and its wholly owned U.S. subsidiaries file a consolidated federal income tax return. The Company also files tax returns in Canada and Ireland. | |
The Company also follows the provisions of “Accounting for Uncertainty in Income Taxes” which prescribes a model for the recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure and transition. The Company’s policy is to record interest and penalty, if any, as interest expense. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition | |
The Company derives its revenues from several sources. The Company’s Engineering Services and Information Technology Services segments perform consulting and project solutions services. All of the Company’s segments perform staff augmentation services and derive revenue from permanent placement fees. The majority of the Company’s revenues are invoiced on a time and materials basis. | |
Project Services | |
The Company recognizes revenues in accordance with “Revenue Recognition” which clarifies application of U.S. generally accepted accounting principles to revenue transactions. Project services are generally provided on a cost-plus, fixed-fee or time-and-material basis. Typically, a customer will outsource a discrete project or activity and the Company assumes responsibility for the performance of such project or activity. The Company recognizes revenues and associated costs on a gross basis as services are provided to the customer and costs are incurred using its employees. The Company, from time to time, enters into contracts requiring the completion of specific deliverables. The Company may recognize revenues on these deliverables at the time the client accepts and approves the deliverables. In instances where project services are provided on a fixed-price basis and the contract will extend beyond a 12-month period, revenue is recorded in accordance with the terms of each contract. In some instances, revenue is billed at the time certain milestones are reached, as defined in the contract. Revenues under these arrangements are recognized as the costs on these contracts are incurred. Amounts invoiced in excess of revenues recognized are recorded as deferred revenue, included in accounts payable and accrued expenses on the accompanying balance sheets. In other instances, revenue is billed and recorded based upon contractual rates per hour (i.e., percentage of completion). In addition, some contracts contain “Performance Fees” (bonuses) for completing a contract under budget. Performance Fees, if any, are recorded when earned. Some contracts also limit revenues and billings to specified maximum amounts. Provision for contract losses, if any, are made in the period such losses are determined. For contracts where there is a deliverable, the work is not complete on a specific deliverable and the revenue is not recognized, the costs are deferred. The associated costs are expensed when the related revenue is recognized. | |
See description of revenue recognition policy for construction management and engineering services above in “transit receivables and transit payables.” Such revenues recognized were approximately 18.0% of total revenues for the year ended December 28, 2013 as compared to 10.5% for the prior year. | |
Consulting and Staffing Services | |
Revenues derived from consulting and staffing services are recorded on a gross basis as services are performed and associated costs have been incurred using employees of the Company. These services are typically billed on a time and material basis. | |
In certain cases, the Company may utilize other companies and their employees to fulfill customer requirements. In these cases, the Company receives an administrative fee for arranging for, billing for, and collecting the billings related to these companies. The customer is typically responsible for assessing the work of these companies who have responsibility for acceptability of their personnel to the customer. Under these circumstances, the Company’s reported revenues are net of associated costs (effectively recognizing the net administrative fee only). | |
Transit Receivables and Transit Payables | |
From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. In certain circumstances, the Company may acquire equipment as a purchasing agent for the client for a fee. Pursuant to these agreements, the Company may: a) engage subcontractors to provide construction or other services or contracts with manufacturers on behalf of the Company’s clients to procure equipment or fixtures; b) typically earns a fixed percentage of the total project value or a negotiated mark-up on subcontractor or procurement charges as a fee and c) assumes no ownership or risks of inventory. In such situations, the Company acts as an agent under the provisions of “Overall Considerations of Reporting Revenue Gross as a Principal versus Net as an Agent” and therefore recognizing revenue on a “net-basis.” The Company records revenue on a “net” basis on relevant engineering and construction management projects, which require subcontractor/procurement costs or transit costs. In those situations, the Company charges the client a negotiated fee, which is reported as net revenue when earned. Similarly, the Company’s Information Technology segment acts as an agent for a major staffing client. The Company manages the staffing requirements for a division of the client and numerous staffing agencies provide staff and the Company collects a service fee. During the fifty-two week period ended December 28, 2013, total gross billings, including both transit cost billings and the Company’s earned fees, was $67.3 million, for which the Company recognized $30.7 million of its net fee as revenue. During the fifty-two week period ended December 29, 2012, total gross billings, including both transit cost billings and the Company’s earned fees, was $64.8 million, for which the Company recognized $15.3 million of its net fee as revenue. | |
Under the terms of the agreements, the Company is typically not required to pay the subcontractor under its Engineering contracts or staffing agencies under the Information Technology contract until after the corresponding payment from the Company’s client is received. Upon invoicing the end client on behalf of the subcontractor or staffing agency the Company records this amount simultaneously as both a “transit account receivable” and “transit account payable” as the amount when paid to the Company is due to and generally paid to the subcontractor within a few days. The Company typically does not pay a given transit account payable until the related transit account receivable is collected. The Company’s transit accounts payable usually exceeds the Company’s transit accounts receivable but absolute amounts and spreads fluctuate significantly from quarter to quarter in the normal course of business. The transit accounts receivable was $4.0 million and related transit accounts payable was $3.9 million, a net receivable of $0.1 million, as of December 28, 2013. The transit accounts receivable was $10.0 million and related transit accounts payable was $12.0 million, a net payable of $2.0 million, as of December 29, 2012. | |
Permanent Placement Services | |
The Company earns permanent placement fees from providing permanent placement services. Fees for placements are recognized at the time the candidate commences employment. The Company guarantees its permanent placements on a prorated basis for 90 days. In the event a candidate is not retained for the 90-day period, the Company will provide a suitable replacement candidate. In the event a replacement candidate cannot be located, the Company will provide a prorated refund to the client. An allowance for refunds, based upon the Company’s historical experience, is recorded in the financial statements. Revenues are recorded on a gross basis. Such revenues are not significant for the years ended December 28, 2013 and December 29, 2012. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' |
Concentration | |
During the fiscal year ended December 28, 2013, Ontario Power Group (the Company primarily services Ontario Power Generation as a subcontractor through Black and McDonald Limited) and United Technologies Corporation accounted for 18.6% and 12.6% of the Company’s revenues, respectively, and as of December 28, 2013 represented 21.8% and 5.3% of the Company’s accounts receivable, net. No other customer accounted for 10% or more of the Company’s revenues. As of December 28, 2013, New York Power Authority total accounts receivable balance (including transit accounts receivable of $2.2 million) was $10.2 million or 16.6% of the total of accounts receivable, net and transit accounts receivable. No other customer accounted for 10% or more of the Company’s accounts receivable, net. The Company’s five, ten and twenty largest customers accounted for approximately 45.2%, 56.5% and 65.6%, respectively, of the Company’s revenues for fiscal year ended December 28, 2013. | |
During the fiscal year ended December 29, 2012, United Technologies Corporation accounted for 11.8% of the Company’s revenues and as of December 29, 2012 represented 7.5% of the Company’s accounts receivable, net. No other customer accounted for 10% or more of the Company’s revenues. As of December 29, 2012, New York Power Authority total accounts receivable balance (including transit accounts receivable of $6.9 million) was $12.5 million or 23.3% of the total of accounts receivable, net and transit accounts receivable. As of December 29, 2012, Ontario Power Generation’s total accounts receivable balance (including transit accounts receivable of $1.9 million) was $6.3 million or 11.8% of the total of accounts receivable, net and transit accounts receivable. No other customer accounted for 10% or more of the Company’s accounts receivable, net. The Company’s five, ten and twenty largest customers accounted for approximately 37.4%, 46.9% and 57.5%, respectively, of the Company’s revenues for fiscal year ended December 29, 2012. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Translation | |
The functional currency of the Company’s Canadian subsidiary is the local currency. Assets and liabilities are translated at period-end exchange rates. Income and expense items are translated at weighted average rates of exchange prevailing during the year. Any translation adjustments are included in the accumulated other comprehensive income account in stockholders’ equity. Transactions executed in different currencies resulting in exchange adjustments are translated at spot rates and resulting foreign exchange transaction gains and losses are included in the results of operations. | |
Comprehensive Income, Policy [Policy Text Block] | ' |
Comprehensive Income | |
Comprehensive income consists of net income and foreign currency translation adjustments. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Per Share Data | |
Basic net income per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated using the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. Potential dilutive common shares consist of stock options and other stock-based awards under the Company’s stock compensation plans, when their impact is dilutive. Because of the Company’s capital structure, all reported earnings pertain to common shareholders and no other adjustments are necessary. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
Share - Based Compensation | |
The Company recognizes share-based compensation over the vesting period of an award based on fair value at the grant date determined using the Black-Scholes option pricing model. Certain assumptions are used to determine the fair value of stock-based payment awards on the date of grant and require subjective judgment. Because employee stock options have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect the fair value estimate, the existing models may not provide a reliable single measure of the fair value of the employee stock options. Management assesses the assumptions and methodologies used to calculate estimated fair value of stock-based compensation when share-based awards are granted. Circumstances may change and additional data may become available over time, which could result in changes to these assumptions and methodologies and thereby materially impact our fair value determination. See Note 11 for additional share-based compensation information. | |
Restricted stock units are recognized at their fair value. The amount of compensation cost is measured on the grant date fair value of the equity instrument issued. The Compensation cost of the restricted stock units is recognized over the vesting period of the restricted stock units on a straight-line basis. Restricted stock units typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period assuming the grantee’s restricted stock unit fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying consolidated balance sheet. Dividends for restricted share units that ultimately do not vest are forfeited. | |
Advertising Costs, Policy [Policy Text Block] | ' |
Advertising Costs | |
Advertising costs are expensed as incurred. Total advertising expense was $490 and $497 for the fiscal years ended December 28, 2013 and December 29, 2012, respectively. |
Note_4_Accounts_Receivable_Tab
Note 4 - Accounts Receivable (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Billed | $ | 35,415 | $ | 26,600 | |||||
Accrued and unbilled | 7,895 | 4,761 | |||||||
Work-in-progress | 13,394 | 13,552 | |||||||
Allowance for doubtful accounts and sales discounts | (978 | ) | (1,207 | ) | |||||
Accounts receivable, net | $ | 55,726 | $ | 43,706 |
Note_5_Property_and_Equipment_
Note 5 - Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Equipment and furniture | $ | 2,454 | $ | 2,366 | |||||
Computers and systems | 5,670 | 5,204 | |||||||
Leasehold improvements | 633 | 949 | |||||||
8,757 | 8,519 | ||||||||
Less: accumulated depreciation and amortization | 6,466 | 6,639 | |||||||
Property and equipment, net | $ | 2,291 | $ | 1,880 |
Note_6_Acquisitions_Tables
Note 6 - Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Note 6 - Acquisitions (Tables) [Line Items] | ' | ||||||||||||
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | ' | ||||||||||||
Short | Long | Total | |||||||||||
Term | Term | ||||||||||||
Contingent consideration balance as of December 29, 2012 | $ | 309 | $ | 713 | $ | 1,022 | |||||||
Liability reduced in current year | (92 | ) | - | (92 | ) | ||||||||
Moved from long term to short term | 306 | (306 | ) | - | |||||||||
Contingent consideration balance as of December 28, 2013 | $ | 523 | $ | 407 | $ | 930 | |||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||||||||||
Cash | $ | 1,292 | |||||||||||
Lease in excess of market, net present value | 469 | ||||||||||||
Contingent consideration, net present value | 930 | ||||||||||||
Total consideration | $ | 2,691 | |||||||||||
Fixed assets | $ | 28 | |||||||||||
Restricted covenants | 70 | ||||||||||||
Customer relationships | 180 | ||||||||||||
Deferred tax asset | 187 | ||||||||||||
Goodwill | 2,226 | ||||||||||||
Total consideration | $ | 2,691 | |||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||||||
Proforma Results | |||||||||||||
for the | |||||||||||||
Fiscal Year Ended | |||||||||||||
29-Dec-12 | |||||||||||||
Revenues | $ | 148,420 | |||||||||||
Operating income | $ | 5,363 | |||||||||||
Basic and diluted earnings per share | $ | 0.26 | |||||||||||
Scenario, Forecast [Member] | ' | ||||||||||||
Note 6 - Acquisitions (Tables) [Line Items] | ' | ||||||||||||
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | ' | ||||||||||||
Period Ending | |||||||||||||
28-Dec-13 | $ | 313 | |||||||||||
3-Jan-15 | 210 | ||||||||||||
2-Jan-16 | 222 | ||||||||||||
31-Dec-16 | 263 | ||||||||||||
Estimated future contingent consideration payments | $ | 1,008 |
Note_8_Intangible_Assets_Table
Note 8 - Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||
Engineering | Information | Total | |||||||||||
Technology | |||||||||||||
Balance as of December 31, 2011 | $ | - | $ | 210 | $ | 210 | |||||||
Intangibles acquired | 250 | - | 250 | ||||||||||
Amortization of intangibles during fiscal 2012 | (24 | ) | (104 | ) | (128 | ) | |||||||
Balance as of December 29, 2012 | $ | 226 | $ | 106 | $ | 332 | |||||||
Amortization of intangibles during fiscal 2013 | (47 | ) | (69 | ) | (116 | ) | |||||||
Balance as of December 28, 2013 | $ | 179 | $ | 37 | $ | 216 | |||||||
Engineering | Information | Total | |||||||||||
Technology | |||||||||||||
Restricted covenants | $ | 44 | $ | - | $ | 44 | |||||||
Customer relationships | 135 | 37 | 172 | ||||||||||
Balance as of December 28, 2013 | $ | 179 | $ | 37 | $ | 216 | |||||||
Fiscal Year | Engineering | Information | Total | ||||||||||
Technology | |||||||||||||
2014 | $ | 47 | $ | 32 | $ | 79 | |||||||
2015 | 48 | 5 | 53 | ||||||||||
2016 | 39 | - | 39 | ||||||||||
2017 | 30 | - | 30 | ||||||||||
2018 | 15 | - | 15 | ||||||||||
Total | $ | 179 | $ | 37 | $ | 216 |
Note_10_Per_Share_Data_Tables
Note 10 - Per Share Data (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | ||||||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Basic weighted average shares outstanding | 12,343,261 | 12,343,426 | |||||||
Dilutive effect of outstanding stock options | 135,111 | 196,709 | |||||||
Weighted average dilutive shares outstanding | 12,478,372 | 12,540,135 | |||||||
Unissued Shares of Common Stock [Table Text Block] | ' | ||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Exercise of options outstanding | 276,900 | 307,400 | |||||||
Restricted stock awards outstanding | 300,000 | 350,000 | |||||||
Future grants of options or shares | 34,100 | 34,100 | |||||||
Shares reserved for employee stock purchase plan | 189,576 | 247,752 | |||||||
Total | 800,576 | 939,252 |
Note_11_Share_Based_Compensati1
Note 11 - Share Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Fiscal Years Ended | |||||||||||||||||||||||||||||||
December | December | ||||||||||||||||||||||||||||||
28, 2013 | 29, 2012 | ||||||||||||||||||||||||||||||
Weighted average risk-free interest rate | 1.74 | % | 0.71 | % | |||||||||||||||||||||||||||
Expected term of option (years) | 5 | 5 | |||||||||||||||||||||||||||||
Expected stock price volatility | 52 | % | 61 | % | |||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | |||||||||||||||||||||||||||
Annual forfeiture rate | 5.98 | % | 4.68 | % | |||||||||||||||||||||||||||
Weighted-average grant date fair value | $ | 2.94 | $ | 2.85 | |||||||||||||||||||||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Number of Restricted | Weighted Average | ||||||||||||||||||||||||||||||
Stock Units | Grant Date Fair | ||||||||||||||||||||||||||||||
(in thousands) | Value per Share | ||||||||||||||||||||||||||||||
Outstanding non-vested at December 29, 2012 | 350 | $ | 5.62 | ||||||||||||||||||||||||||||
Granted | 40 | ||||||||||||||||||||||||||||||
Vested | (50 | ) | |||||||||||||||||||||||||||||
Forfeited or expired | (40 | ) | |||||||||||||||||||||||||||||
Outstanding non-vested at December 28, 2013 | 300 | $ | 5.72 | ||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||||
All Stock Options Outstanding | |||||||||||||||||||||||||||||||
Shares | Weighted Average | ||||||||||||||||||||||||||||||
Exercise Price | |||||||||||||||||||||||||||||||
Options outstanding as of December 31, 2011 | 916,594 | $ | 4.24 | ||||||||||||||||||||||||||||
Options granted | 55,000 | $ | 5.54 | ||||||||||||||||||||||||||||
Options exercised, net | (392,376 | ) | $ | 3.85 | |||||||||||||||||||||||||||
Options forfeited in cashless exercises | (243,268 | ) | |||||||||||||||||||||||||||||
Options forfeited/cancelled | (28,550 | ) | $ | 3.88 | |||||||||||||||||||||||||||
Options outstanding as of December 29, 2012 | 307,400 | $ | 5.34 | ||||||||||||||||||||||||||||
Options exercisable as of December 29, 2012 | 252,400 | $ | 5.29 | ||||||||||||||||||||||||||||
Intrinsic value of outstanding stock options as of December 29, 2012 | $ | 167 | |||||||||||||||||||||||||||||
Intrinsic value of stock options exercised in fiscal year ended December 29, 2012 | $ | 1,468 | |||||||||||||||||||||||||||||
Weighted average grant date fair value of stock options issued during fiscal year ended December 29, 2012 | $ | 2.85 | |||||||||||||||||||||||||||||
Options outstanding as of December 29, 2012 | 307,400 | $ | 5.34 | ||||||||||||||||||||||||||||
Options granted | 5,000 | $ | 5.78 | ||||||||||||||||||||||||||||
Options exercised, net | (27,500 | ) | $ | 4.15 | |||||||||||||||||||||||||||
Options forfeited/cancelled | (8,000 | ) | $ | 5.16 | |||||||||||||||||||||||||||
Options outstanding as of December 28, 2013 | 276,900 | $ | 5.47 | ||||||||||||||||||||||||||||
Options exercisable as of December 28, 2013 | 221,900 | $ | 5.45 | ||||||||||||||||||||||||||||
Intrinsic value of outstanding stock options as of December 28, 2013 | $ | 504 | |||||||||||||||||||||||||||||
Intrinsic value of stock options exercised in fiscal year ended December 28, 2013 | $ | 44 | |||||||||||||||||||||||||||||
Weighted average grant date fair value of stock options issued during fiscal year ended December 28, 2013 | $ | 2.94 | |||||||||||||||||||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Nonvested Stock Options | Shares | Weighed-Average | |||||||||||||||||||||||||||||
Grant-Date | |||||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||||
Nonvested at December 29, 2012 | 55,000 | $ | 2.85 | ||||||||||||||||||||||||||||
Vested | 0 | ||||||||||||||||||||||||||||||
Forfeited | (5,000 | ) | $ | 2.88 | |||||||||||||||||||||||||||
Issued nonvested | 5,000 | $ | 2.94 | ||||||||||||||||||||||||||||
Nonvested at December 28, 2013 | 55,000 | $ | 2.86 | ||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Range of | Number of | Weighted-Average | Weighted-Average | ||||||||||||||||||||||||||||
Exercise Prices | Outstanding Options | Remaining | Exercise Price | ||||||||||||||||||||||||||||
Contractual Life | |||||||||||||||||||||||||||||||
Outstanding | Vested | Outstanding | Vested | Outstanding | Vested | ||||||||||||||||||||||||||
$2.50 | - | $2.50 | 1,000 | 1,000 | 5.96 | 5.96 | $ | 2.5 | $ | 2.5 | |||||||||||||||||||||
$4.16 | - | $5.78 | 233,400 | 178,400 | 3.41 | 1.8 | $ | 4.82 | $ | 4.6 | |||||||||||||||||||||
$6.44 | - | $9.16 | 17,500 | 17,500 | 1.06 | 1.06 | $ | 8.01 | $ | 8.01 | |||||||||||||||||||||
$9.81 | - | $9.81 | 25,000 | 25,000 | 3.55 | 3.55 | $ | 9.81 | $ | 9.81 | |||||||||||||||||||||
276,900 | 221,900 | 3.28 | 1.96 | $ | 5.47 | $ | 5.45 |
Note_14_Segment_Information_Ta
Note 14 - Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||
Fiscal Year Ended | Engineering | Information | Specialty | Corporate | Total | ||||||||||||||||
28-Dec-13 | Technology | Health Care | |||||||||||||||||||
Revenue | $ | 86,742 | $ | 55,263 | $ | 28,773 | $ | - | $ | 170,778 | |||||||||||
Cost of services | 67,005 | 39,412 | 20,000 | - | 126,417 | ||||||||||||||||
Selling, general and administrative | 14,357 | 13,540 | 7,617 | - | 35,514 | ||||||||||||||||
Non-recurring charges | 342 | 142 | - | 4,697 | 5,181 | ||||||||||||||||
Depreciation and amortization | 702 | 300 | 109 | - | 1,111 | ||||||||||||||||
Operating income | $ | 4,336 | $ | 1,869 | $ | 1,047 | $ | (4,697 | ) | $ | 2,555 | ||||||||||
Total assets | $ | 42,951 | $ | 14,472 | $ | 14,334 | $ | 14,767 | $ | 86,524 | |||||||||||
Capital expenditures | $ | 1,142 | $ | 78 | $ | 35 | $ | 151 | $ | 1,406 | |||||||||||
Fiscal Year Ended | Engineering | Information | Specialty | Corporate | Total | ||||||||||||||||
29-Dec-12 | Technology | Health Care | |||||||||||||||||||
Revenue | $ | 66,631 | $ | 52,165 | $ | 27,021 | $ | - | $ | 145,817 | |||||||||||
Cost of services | 50,733 | 36,931 | 18,438 | - | 106,102 | ||||||||||||||||
Selling, general and administrative | 12,124 | 13,703 | 7,339 | - | 33,166 | ||||||||||||||||
Depreciation and amortization | 720 | 477 | 124 | - | 1,321 | ||||||||||||||||
Operating income | $ | 3,054 | $ | 1,054 | $ | 1,120 | $ | - | $ | 5,228 | |||||||||||
Total assets | $ | 39,441 | $ | 15,494 | $ | 10,419 | $ | 19,194 | $ | 84,548 | |||||||||||
Capital expenditures | $ | 340 | $ | 59 | $ | 8 | $ | 104 | $ | 511 | |||||||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | ' | ||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
December 28, | December 29, | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Revenues | |||||||||||||||||||||
United States | $ | 130,589 | $ | 120,327 | |||||||||||||||||
Canada | 34,989 | 20,641 | |||||||||||||||||||
Puerto Rico | 5,200 | 4,849 | |||||||||||||||||||
$ | 170,778 | $ | 145,817 | ||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
December 28, | December 29, | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Total Assets | |||||||||||||||||||||
United States | $ | 62,198 | $ | 68,364 | |||||||||||||||||
Canada | 22,993 | 14,612 | |||||||||||||||||||
Puerto Rico | 1,333 | 1,572 | |||||||||||||||||||
$ | 86,524 | $ | 84,548 |
Note_15_Income_Taxes_Tables
Note 15 - Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Current | |||||||||
Federal | $ | 450 | $ | 1,028 | |||||
State and local | 407 | 420 | |||||||
Foreign | 416 | (129 | ) | ||||||
1,273 | 1,319 | ||||||||
Deferred | |||||||||
Federal | (541 | ) | 617 | ||||||
State | (157 | ) | 179 | ||||||
Foreign | 22 | (12 | ) | ||||||
(676 | ) | 784 | |||||||
Total | $ | 597 | $ | 2,103 | |||||
Fiscal Years Ended | |||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
United States | $ | 1,175 | $ | 5,790 | |||||
Foreign Jurisdictions | 1,412 | (460 | ) | ||||||
$ | 2,587 | $ | 5,330 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Tax at statutory rate (credit) | 34 | % | 34 | % | |||||
State income taxes, net of Federal income tax benefit | 6.5 | 7.4 | |||||||
Permanent differences | 2.6 | (2.4 | ) | ||||||
Foreign income tax rate | (1.6 | ) | 0.3 | ||||||
Reverse liability for amended return | (18.3 | ) | - | ||||||
Other, net | 0.9 | 0.2 | |||||||
Total income tax expense | 24.1 | % | 39.5 | % | |||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||
Unrecognized Tax Benefits | |||||||||
Balance as of December 29, 2012 | $ | 473 | |||||||
Charges for current year tax positions | (473 | ) | |||||||
Reserves for current year tax position | 628 | ||||||||
Balance as of December 28, 2013 | $ | 628 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
December 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Deferred tax assets: | |||||||||
Allowance for doubtful accounts | $ | 391 | $ | 483 | |||||
Acquisition amortization, net | 1,642 | 2,214 | |||||||
Reserves and accruals | 1,556 | 432 | |||||||
Other | 338 | 179 | |||||||
Total deferred tax assets | 3,927 | 3,308 | |||||||
Deferred tax liabilities: | |||||||||
Prepaid expense deferral | (367 | ) | (436 | ) | |||||
Bonus depreciation to be reversed | (118 | ) | (129 | ) | |||||
Canada deferred tax liability, net | (132 | ) | (73 | ) | |||||
Total deferred tax liabilities | (617 | ) | (638 | ) | |||||
Total deferred tax assets, net | $ | 3,310 | $ | 2,670 |
Note_18_Commitments_Tables
Note 18 - Commitments (Tables) | 12 Months Ended | ||||
Dec. 28, 2013 | |||||
Disclosure Text Block Supplement [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
Fiscal Years | Amount | ||||
2014 | $ | 2,904 | |||
2015 | 2,601 | ||||
2016 | 1,863 | ||||
2017 | 1,509 | ||||
2018 | 1,302 | ||||
Thereafter | 508 | ||||
Total | $ | 10,687 |
Note_20_Selected_Quarterly_Fin1
Note 20 - Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||
Sales | Gross | Operating | Net | Diluted | |||||||||||||||||
Profit | Income | Income | Income | ||||||||||||||||||
Per Share | |||||||||||||||||||||
1st Quarter | $ | 41,230 | $ | 10,621 | $ | 1,514 | $ | 960 | $ | 0.08 | |||||||||||
2nd Quarter | 42,379 | 11,262 | 1,714 | 1,470 | 0.12 | ||||||||||||||||
3rd Quarter | 41,320 | 10,684 | 1,806 | 1,142 | 0.09 | ||||||||||||||||
4th Quarter* | 45,849 | 11,794 | (2,479 | ) | (1,582 | ) | (0.13 | ) | |||||||||||||
Total | $ | 170,778 | $ | 44,361 | $ | 2,555 | $ | 1,990 | $ | 0.16 | |||||||||||
Sales | Gross | Operating | Net | Diluted | |||||||||||||||||
Profit | Income | Income | Income | ||||||||||||||||||
Per Share | |||||||||||||||||||||
1st Quarter | $ | 38,206 | $ | 10,285 | $ | 1,776 | $ | 1,059 | $ | 0.08 | |||||||||||
2nd Quarter | 35,753 | 9,656 | 1,015 | 505 | 0.04 | ||||||||||||||||
3rd Quarter | 34,839 | 9,675 | 1,107 | 634 | 0.05 | ||||||||||||||||
4th Quarter | 37,019 | 10,099 | 1,330 | 1,029 | 0.09 | ||||||||||||||||
Total | $ | 145,817 | $ | 39,715 | $ | 5,228 | $ | 3,227 | $ | 0.26 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts and Reserves (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||
Column A | Column B | Column C | Column D | Column E | |||||||||||||
Description | Balance at | Charged to | Deduction | Balance at | |||||||||||||
Beginning | Costs and | End of | |||||||||||||||
of Period | Expenses | Period | |||||||||||||||
Fiscal Year Ended December 28, 2013 | |||||||||||||||||
Allowance for doubtful accounts on trade receivables | $ | 1,207 | $ | 301 | $ | (530 | ) | $ | 978 | ||||||||
Provision for contingencies for legal matters | $ | 175 | $ | 88 | $ | (75 | ) | $ | 188 | ||||||||
Fiscal Year Ended December 29, 2012 | |||||||||||||||||
Allowance for doubtful accounts on trade receivables | $ | 1,455 | $ | 150 | $ | 398 | $ | 1,207 | |||||||||
Provision for contingencies for legal matters | $ | 340 | $ | 25 | $ | 190 | $ | 175 |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $9,317,000 | $14,123,000 | $28,417,000 |
Goodwill, Impairment Loss | 0 | 0 | ' |
Capitalized Computer Software, Additions | 443,000 | 101,000 | ' |
Capitalized Computer Software, Net | 505,000 | ' | ' |
Gross Billings | 67,300,000 | 64,800,000 | ' |
Construction Revenue | 30,700,000 | 15,300,000 | ' |
Transit Account Receivable, Gross | 4,000,000 | 10,000,000 | ' |
Transit Account Payable, Gross | 3,900,000 | 12,000,000 | ' |
Transit Account Receivable, Net | 100,000 | ' | ' |
Transit Account Payable, Net | ' | 2,000,000 | ' |
Advertising Expense | 490,000 | 497,000 | ' |
Ontario Power Group [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 18.60% | ' | ' |
Ontario Power Group [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 21.80% | 11.80% | ' |
Ontario Power Group [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Transit Account Receivable, Net | ' | 1,900,000 | ' |
Accounts Receivable, Net | ' | 6,300,000 | ' |
United Technologies Corporation [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 12.60% | 11.80% | ' |
United Technologies Corporation [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 5.30% | 7.50% | ' |
New York Power Authority [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 16.60% | 23.30% | ' |
New York Power Authority [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Transit Account Receivable, Net | 2,200,000 | 6,900,000 | ' |
Accounts Receivable, Net | 10,200,000 | 12,500,000 | ' |
Five Largest Customers [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 45.20% | 37.40% | ' |
Ten Largest Customers [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 56.50% | 46.90% | ' |
Twenty Largest Customers [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 65.60% | 57.50% | ' |
ERP Software System [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '15 years | ' | ' |
VOIP Telephone System [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '7 years | ' | ' |
Office Equipment [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' | ' |
CANADA | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $3,300,000 | $3,100,000 | ' |
Sales Revenue, Net [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 18.00% | 10.50% | ' |
Restricted Covenants [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' | ' |
Note_4_Accounts_Receivable_Det
Note 4 - Accounts Receivable (Details) - Accounts Receivable (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for doubtful accounts and sales discounts | ($978) | ($1,207) |
Accounts receivable, net | 55,726 | 43,706 |
Billed Revenues [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, current | 35,415 | 26,600 |
Unbilled Revenues [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, current | 7,895 | 4,761 |
Work In Progress [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable, current | $13,394 | $13,552 |
Note_5_Property_and_Equipment_1
Note 5 - Property and Equipment (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Property, Plant and Equipment [Abstract] | ' | ' |
Write Off of Fully Depreciated Property and Equipment | $1,169 | $1,466 |
Depreciation | $995 | $1,193 |
Note_5_Property_and_Equipment_2
Note 5 - Property and Equipment (Details) - Property and Equipment (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $8,757 | $8,519 |
Less: accumulated depreciation and amortization | 6,466 | 6,639 |
Property and equipment, net | 2,291 | 1,880 |
Equipment and Furniture [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 2,454 | 2,366 |
Computers and Systems [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 5,670 | 5,204 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $633 | $949 |
Note_6_Acquisitions_Details
Note 6 - Acquisitions (Details) (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Note 6 - Acquisitions (Details) [Line Items] | ' | ' |
Business Combination, Contingent Consideration, Liability | $930,000 | $1,022,000 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | -92,000 | -135,000 |
Other Payments to Acquire Businesses | 0 | 0 |
Maximum [Member] | BGA [Member] | ' | ' |
Note 6 - Acquisitions (Details) [Line Items] | ' | ' |
Business Combination, Contingent Consideration, Liability | $3,000,000 | ' |
Note_6_Acquisitions_Details_Ma
Note 6 - Acquisitions (Details) - Maximum Deferred Consideration Payments (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | $930 | $1,022 |
December 28, 2013 [Member] | BGA [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | 313 | ' |
January 3, 2015 [Member] | BGA [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | 210 | ' |
January 2, 2016 [Member] | BGA [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | 222 | ' |
December 31, 2016 [Member] | BGA [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | 263 | ' |
Estimated Future Payments [Member] | BGA [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Estimated contingent consideration payments | $1,008 | ' |
Note_6_Acquisitions_Details_Co
Note 6 - Acquisitions (Details) - Contingent Consideration (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration balance | $1,022 | ' |
Liability reduced in current year | -92 | -135 |
Contingent consideration balance | 930 | 1,022 |
Short Term [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration balance | 309 | ' |
Liability reduced in current year | -92 | ' |
Moved from long term to short term | 306 | ' |
Contingent consideration balance | 523 | ' |
Long Term [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Contingent consideration balance | 713 | ' |
Moved from long term to short term | -306 | ' |
Contingent consideration balance | $407 | ' |
Note_6_Acquisitions_Details_BG
Note 6 - Acquisitions (Details) - BGA Purchase Consideration (USD $) | 12 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 |
BGA [Member] | BGA [Member] | BGA [Member] | |||
Restricted Covenants [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Cash | $1,292 | ' | ' | ' | $1,292 |
Lease in excess of market, net present value | ' | ' | ' | ' | 469 |
Contingent consideration, net present value | ' | ' | ' | ' | 930 |
Total consideration | ' | ' | ' | ' | 2,691 |
Fixed assets | ' | ' | ' | ' | 28 |
Intangible assets | ' | ' | 70 | 180 | ' |
Deferred tax asset | ' | ' | ' | ' | 187 |
Goodwill | $9,545 | $9,545 | ' | ' | $2,226 |
Note_6_Acquisitions_Details_Bu
Note 6 - Acquisitions (Details) - Business Acquisition, Pro Forma Information (Pro Forma [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2012 |
Pro Forma [Member] | ' |
Note 6 - Acquisitions (Details) - Business Acquisition, Pro Forma Information [Line Items] | ' |
Revenues | $148,420 |
Operating income | $5,363 |
Basic and diluted earnings per share (in Dollars per share) | $0.26 |
Note_7_Goodwill_Details
Note 7 - Goodwill (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Note 7 - Goodwill (Details) [Line Items] | ' | ' |
Goodwill | $9,545 | $9,545 |
Engineering [Member] | ' | ' |
Note 7 - Goodwill (Details) [Line Items] | ' | ' |
Goodwill | 2,326 | 2,326 |
Information Technology [Member] | ' | ' |
Note 7 - Goodwill (Details) [Line Items] | ' | ' |
Goodwill | 5,516 | 5,516 |
Specialty Health Care [Member] | ' | ' |
Note 7 - Goodwill (Details) [Line Items] | ' | ' |
Goodwill | $1,703 | $1,703 |
Note_8_Intangible_Assets_Detai
Note 8 - Intangible Assets (Details) - Components of Intangible Assets (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 31, 2011 | Dec. 29, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | $216 | $210 | $332 |
2014 | 79 | ' | ' |
2015 | 53 | ' | ' |
2016 | 39 | ' | ' |
2017 | 30 | ' | ' |
2018 | 15 | ' | ' |
Intangibles acquired | ' | 250 | ' |
Amortization of intangibles | -116 | -128 | ' |
Restricted Covenants [Member] | Engineering [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 44 | ' | ' |
Restricted Covenants [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 44 | ' | ' |
Customer Relationship2 [Member] | Engineering [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 135 | ' | ' |
Customer Relationship2 [Member] | Information Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 37 | ' | ' |
Customer Relationship2 [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 172 | ' | ' |
Engineering [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 179 | ' | 226 |
2014 | 47 | ' | ' |
2015 | 48 | ' | ' |
2016 | 39 | ' | ' |
2017 | 30 | ' | ' |
2018 | 15 | ' | ' |
Intangibles acquired | ' | 250 | ' |
Amortization of intangibles | -47 | -24 | ' |
Information Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite Lived Intangible asset | 37 | 210 | 106 |
2014 | 32 | ' | ' |
2015 | 5 | ' | ' |
Amortization of intangibles | ($69) | ($104) | ' |
Note_9_Line_of_Credit_Details
Note 9 - Line of Credit (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Feb. 20, 2009 |
Note 9 - Line of Credit (Details) [Line Items] | ' | ' | ' |
Letters of Credit Outstanding, Amount | $800,000 | $800,000 | ' |
Revolving Credit Facility [Member] | ' | ' | ' |
Note 9 - Line of Credit (Details) [Line Items] | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | 15,000,000 |
Line of Credit Facility, Amount Outstanding | 0 | 0 | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 14,200,000 | ' | ' |
Letter of Credit [Member] | ' | ' | ' |
Note 9 - Line of Credit (Details) [Line Items] | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | $5,000,000 |
Note_10_Per_Share_Data_Details
Note 10 - Per Share Data (Details) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Earnings Per Share [Abstract] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 97,500 | 97,500 |
Note_10_Per_Share_Data_Details1
Note 10 - Per Share Data (Details) - Weighted Average Number of Common Shares | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Weighted Average Number of Common Shares [Abstract] | ' | ' |
Basic weighted average shares outstanding | 12,343,261 | 12,343,426 |
Dilutive effect of outstanding stock options | 135,111 | 196,709 |
Weighted average dilutive shares outstanding | 12,478,372 | 12,540,135 |
Note_10_Per_Share_Data_Details2
Note 10 - Per Share Data (Details) - Unissued Shares of Common Stock Were Reserved For The Following Purposes | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Unissued Shares of Common Stock Were Reserved For The Following Purposes [Abstract] | ' | ' | ' |
Exercise of options outstanding | 276,900 | 307,400 | 916,594 |
Restricted stock awards outstanding | 300,000 | 350,000 | ' |
Future grants of options or shares | 34,100 | 34,100 | ' |
Shares reserved for employee stock purchase plan | 189,576 | 247,752 | ' |
Total | 800,576 | 939,252 | ' |
Note_11_Share_Based_Compensati2
Note 11 - Share Based Compensation (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Nov. 16, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 27, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | |
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | The 1996 Plan [Member] | The 2000 Plan [Member] | The 2007 Plan [Member] | Maximum Shares Issued Pursuant to Stock-based Awards [Member] | Maximum Shares That May Be Granted to Any Individual [Member] | ESPP [Member] | ESPP [Member] | Minimum [Member] | Maximum [Member] | ||||
Note 11 - Share Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '3 years |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense (in Dollars) | $849,000 | $169,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $106,000 | $65,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 1,100,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years | ' | ' | ' | '22 months 15 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,000 | 55,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | 350,000 | 40,000 | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,250,000 | 1,500,000 | 700,000 | 350,000 | 300,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 276,900 | 307,400 | 916,594 | ' | ' | ' | ' | ' | ' | 132,000 | 70,500 | 74,400 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,100 | ' | ' | 189,576 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | ' | ' | ' | ' | 300,000 | 350,000 | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $6.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested (in Dollars) | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 58,176 | 29,205 | ' | ' | ' | ' | 58,176 | 29,205 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options (in Dollars) | $259,000 | $128,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_Share_Based_Compensati3
Note 11 - Share Based Compensation (Details) - Valuation of Stock Options (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Valuation of Stock Options [Abstract] | ' | ' |
Weighted average risk-free interest rate | 1.74% | 0.71% |
Expected term of option (years) | '5 years | '5 years |
Expected stock price volatility | 52.00% | 61.00% |
Expected dividend yield | 0.00% | 0.00% |
Annual forfeiture rate | 5.98% | 4.68% |
Weighted-average grant date fair value (in Dollars per share) | $2.94 | $2.85 |
Note_11_Share_Based_Compensati4
Note 11 - Share Based Compensation (Details) - Restricted Stock Units Activity (USD $) | 0 Months Ended | 12 Months Ended | |
Nov. 16, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | |
Note 11 - Share Based Compensation (Details) - Restricted Stock Units Activity [Line Items] | ' | ' | ' |
Vested | ' | 0 | ' |
Forfeited or expired | ' | -5,000 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 11 - Share Based Compensation (Details) - Restricted Stock Units Activity [Line Items] | ' | ' | ' |
Shares | ' | 350,000 | ' |
Weighted Average Grant Date Fair Value (in Dollars per share) | ' | $5.62 | ' |
Granted | 350,000 | 40,000 | 350,000 |
Vested | ' | -50,000 | ' |
Vested (in Dollars per share) | ' | ' | ' |
Forfeited or expired | ' | -40,000 | ' |
Shares | ' | 300,000 | 350,000 |
Weighted Average Grant Date Fair Value (in Dollars per share) | ' | $5.72 | $5.62 |
Note_11_Share_Based_Compensati5
Note 11 - Share Based Compensation (Details) - Stock Option Activity (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Stock Option Activity [Abstract] | ' | ' |
Options outstanding (in Shares) | 307,400 | 916,594 |
Options outstanding | $5.34 | $4.24 |
Options exercisable (in Shares) | 221,900 | 252,400 |
Options exercisable | $5.45 | $5.29 |
Intrinsic value of outstanding stock options (in Dollars) | $504 | $167 |
Weighted average grant date fair value of stock options issued (in Dollars) | $44 | $1,468 |
Weighted average grant date fair value of stock options issued during fiscal year | $2.94 | $2.85 |
Options granted (in Shares) | 5,000 | 55,000 |
Options granted | $5.78 | $5.54 |
Options exercised, net (in Shares) | -27,500 | -392,376 |
Options exercised, net | $4.15 | $3.85 |
Options forfeited in cashless exercises (in Shares) | ' | -243,268 |
Options forfeited/cancelled (in Shares) | -8,000 | -28,550 |
Options forfeited/cancelled | $5.16 | $3.88 |
Options outstanding (in Shares) | 276,900 | 307,400 |
Options outstanding | $5.47 | $5.34 |
Note_11_Share_Based_Compensati6
Note 11 - Share Based Compensation (Details) - Status of Nonvested Stock Options Outstanding (USD $) | 12 Months Ended |
Dec. 28, 2013 | |
Status of Nonvested Stock Options Outstanding [Abstract] | ' |
Nonvested at December 29, 2012 | 55,000 |
Nonvested at December 29, 2012 (in Dollars per share) | $2.85 |
Vested | 0 |
Forfeited | -5,000 |
Forfeited (in Dollars per share) | $2.88 |
Issued nonvested | 5,000 |
Issued nonvested (in Dollars per share) | $2.94 |
Nonvested at December 28, 2013 | 55,000 |
Nonvested at December 28, 2013 (in Dollars per share) | $2.86 |
Note_11_Share_Based_Compensati7
Note 11 - Share Based Compensation (Details) - Information About Stock Options Outstanding (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Number of Options Outstanding (in Shares) | 276,900 | 307,400 | 916,594 |
Number of Options Vested (in Shares) | 221,900 | ' | ' |
Weighted-Average Remaining Contractual Life, Outstanding | '3 years 102 days | ' | ' |
Weighted-Average Remaining Contractual Life, Vested | '1 year 350 days | ' | ' |
Weighted-Average Exercise Price, Outstanding | $5.47 | $5.34 | $4.24 |
Weighted-Average Exercise Price, Vested | $5.45 | ' | ' |
Range 1 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Lower Range of Exercise Price | $2.50 | ' | ' |
Upper Range of Exercise Price | $2.50 | ' | ' |
Number of Options Outstanding (in Shares) | 1,000 | ' | ' |
Number of Options Vested (in Shares) | 1,000 | ' | ' |
Weighted-Average Remaining Contractual Life, Outstanding | '5 years 350 days | ' | ' |
Weighted-Average Remaining Contractual Life, Vested | '5 years 350 days | ' | ' |
Weighted-Average Exercise Price, Outstanding | $2.50 | ' | ' |
Weighted-Average Exercise Price, Vested | $2.50 | ' | ' |
Range 2 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Lower Range of Exercise Price | $4.16 | ' | ' |
Upper Range of Exercise Price | $5.78 | ' | ' |
Number of Options Outstanding (in Shares) | 233,400 | ' | ' |
Number of Options Vested (in Shares) | 178,400 | ' | ' |
Weighted-Average Remaining Contractual Life, Outstanding | '3 years 149 days | ' | ' |
Weighted-Average Remaining Contractual Life, Vested | '1 year 292 days | ' | ' |
Weighted-Average Exercise Price, Outstanding | $4.82 | ' | ' |
Weighted-Average Exercise Price, Vested | $4.60 | ' | ' |
Range 3 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Lower Range of Exercise Price | $6.44 | ' | ' |
Upper Range of Exercise Price | $9.16 | ' | ' |
Number of Options Outstanding (in Shares) | 17,500 | ' | ' |
Number of Options Vested (in Shares) | 17,500 | ' | ' |
Weighted-Average Remaining Contractual Life, Outstanding | '1 year 21 days | ' | ' |
Weighted-Average Remaining Contractual Life, Vested | '1 year 21 days | ' | ' |
Weighted-Average Exercise Price, Outstanding | $8.01 | ' | ' |
Weighted-Average Exercise Price, Vested | $8.01 | ' | ' |
Range 4 [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Lower Range of Exercise Price | $9.81 | ' | ' |
Upper Range of Exercise Price | $9.81 | ' | ' |
Number of Options Outstanding (in Shares) | 25,000 | ' | ' |
Number of Options Vested (in Shares) | 25,000 | ' | ' |
Weighted-Average Remaining Contractual Life, Outstanding | '3 years 200 days | ' | ' |
Weighted-Average Remaining Contractual Life, Vested | '3 years 200 days | ' | ' |
Weighted-Average Exercise Price, Outstanding | $9.81 | ' | ' |
Weighted-Average Exercise Price, Vested | $9.81 | ' | ' |
Note_12_Treasury_Stock_Transac1
Note 12 - Treasury Stock Transactions (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 60 Months Ended | |||
Dec. 28, 2013 | Dec. 29, 2012 | Oct. 28, 2013 | Feb. 28, 2010 | Dec. 28, 2013 | Dec. 28, 2013 | Jan. 04, 2013 | |
Stock Repurchase Program [Member] | Stock Repurchase Program [Member] | Stock Repurchase Program [Member] | Stock Repurchase Program [Member] | Stock Repurchase Program [Member] | |||
Note 12 - Treasury Stock Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | $5,000,000 | $7,500,000 | ' | ' | ' |
Stock Repurchased During Period, Value | ($83,000) | ($4,704,000) | ' | ' | $15,450 | $7,500,000 | ' |
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | ' | ' | ' | ' | $5.35 | $5.09 | ' |
Stock Repurchased During Period, Shares (in Shares) | ' | ' | ' | ' | ' | 1,473,306 | ' |
Percent of Funds Approved | ' | ' | ' | ' | ' | ' | 100.00% |
Note_14_Segment_Information_De
Note 14 - Segment Information (Details) - Results of the Segments (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenue | $45,849 | [1] | $41,320 | $42,379 | $41,230 | $37,019 | $34,839 | $35,753 | $38,206 | $170,778 | $145,817 |
Cost of services | ' | ' | ' | ' | ' | ' | ' | ' | 126,417 | 106,102 | |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 35,514 | 33,166 | |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1,111 | 1,321 | |
Operating income (loss) | -2,479 | [1] | 1,806 | 1,714 | 1,514 | 1,330 | 1,107 | 1,015 | 1,776 | 2,555 | 5,228 |
Total assets | 86,524 | ' | ' | ' | 84,548 | ' | ' | ' | 86,524 | 84,548 | |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,406 | 511 | |
Engineering [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non-recurring charges | ' | ' | ' | ' | ' | ' | ' | ' | 342 | ' | |
Engineering [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 86,742 | 66,631 | |
Cost of services | ' | ' | ' | ' | ' | ' | ' | ' | 67,005 | 50,733 | |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 14,357 | 12,124 | |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 702 | 720 | |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 4,336 | 3,054 | |
Total assets | 42,951 | ' | ' | ' | 39,441 | ' | ' | ' | 42,951 | 39,441 | |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,142 | 340 | |
Information Technology [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non-recurring charges | ' | ' | ' | ' | ' | ' | ' | ' | 142 | ' | |
Information Technology [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 55,263 | 52,165 | |
Cost of services | ' | ' | ' | ' | ' | ' | ' | ' | 39,412 | 36,931 | |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 13,540 | 13,703 | |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 300 | 477 | |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,869 | 1,054 | |
Total assets | 14,472 | ' | ' | ' | 15,494 | ' | ' | ' | 14,472 | 15,494 | |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 78 | 59 | |
Specialty Health Care [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 28,773 | 27,021 | |
Cost of services | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | 18,438 | |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 7,617 | 7,339 | |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 109 | 124 | |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,047 | 1,120 | |
Total assets | 14,334 | ' | ' | ' | 10,419 | ' | ' | ' | 14,334 | 10,419 | |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 8 | |
Corporate Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non-recurring charges | ' | ' | ' | ' | ' | ' | ' | ' | 4,697 | ' | |
Corporate Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -4,697 | ' | |
Total assets | 14,767 | ' | ' | ' | 19,194 | ' | ' | ' | 14,767 | 19,194 | |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 151 | 104 | |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non-recurring charges | ' | ' | ' | ' | ' | ' | ' | ' | $5,181 | ' | |
[1] | Includes severance and other charges of $4.8 million (see note 21). |
Note_14_Segment_Information_De1
Note 14 - Segment Information (Details) - Revenues and Total Assets by Geographic Area (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | $45,849 | [1] | $41,320 | $42,379 | $41,230 | $37,019 | $34,839 | $35,753 | $38,206 | $170,778 | $145,817 |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Assets | 86,524 | ' | ' | ' | 84,548 | ' | ' | ' | 86,524 | 84,548 | |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 130,589 | 120,327 | |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Assets | 62,198 | ' | ' | ' | 68,364 | ' | ' | ' | 62,198 | 68,364 | |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 34,989 | 20,641 | |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Assets | 22,993 | ' | ' | ' | 14,612 | ' | ' | ' | 22,993 | 14,612 | |
Puerto Rico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,200 | 4,849 | |
Total Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Assets | $1,333 | ' | ' | ' | $1,572 | ' | ' | ' | $1,333 | $1,572 | |
[1] | Includes severance and other charges of $4.8 million (see note 21). |
Note_15_Income_Taxes_Details
Note 15 - Income Taxes (Details) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 24.10% | 39.50% |
Note_15_Income_Taxes_Details_C
Note 15 - Income Taxes (Details) - Components of Income Tax Expense from Continuing Operations (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Current | ' | ' |
Federal | $450 | $1,028 |
State and local | 407 | 420 |
Foreign | 416 | -129 |
1,273 | 1,319 | |
Deferred | ' | ' |
Federal | -541 | 617 |
State | -157 | 179 |
Foreign | 22 | -12 |
-676 | 784 | |
Total | 597 | 2,103 |
Earnings Before Income Taxes | 2,587 | 5,330 |
Domestic Tax Authority [Member] | ' | ' |
Deferred | ' | ' |
Earnings Before Income Taxes | 1,175 | 5,790 |
Foreign Tax Authority [Member] | ' | ' |
Deferred | ' | ' |
Earnings Before Income Taxes | $1,412 | ($460) |
Note_15_Income_Taxes_Details_E
Note 15 - Income Taxes (Details) - Effective Income Tax Rate Reconciliation | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Effective Income Tax Rate Reconciliation [Abstract] | ' | ' |
Tax at statutory rate (credit) | 34.00% | 34.00% |
State income taxes, net of Federal income tax benefit | 6.50% | 7.40% |
Permanent differences | 2.60% | -2.40% |
Foreign income tax rate | -1.60% | 0.30% |
Reverse liability for amended return | -18.30% | ' |
Other, net | 0.90% | 0.20% |
Total income tax expense | 24.10% | 39.50% |
Note_15_Income_Taxes_Details_R
Note 15 - Income Taxes (Details) - Reconciliation of Unrecognized Tax Benefits (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 28, 2013 |
Reconciliation of Unrecognized Tax Benefits [Abstract] | ' |
Balance as of | $473 |
Charges for current year tax positions | -473 |
Reserves for current year tax position | 628 |
Balance as of | $628 |
Note_15_Income_Taxes_Details_D
Note 15 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Liabilities [Abstract] | ' | ' |
Allowance for doubtful accounts | $391 | $483 |
Acquisition amortization, net | 1,642 | 2,214 |
Reserves and accruals | 1,556 | 432 |
Other | 338 | 179 |
Total deferred tax assets | 3,927 | 3,308 |
Prepaid expense deferral | -367 | -436 |
Bonus depreciation to be reversed | -118 | -129 |
Canada deferred tax liability, net | -132 | -73 |
Total deferred tax liabilities | -617 | -638 |
Total deferred tax assets, net | $3,310 | $2,670 |
Note_16_Contingencies_Details
Note 16 - Contingencies (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Loss Contingency [Abstract] | ' | ' |
Loss Contingency Accrual | $0.20 | $0.20 |
Loss Contingency, Damages Sought, Value | $10.70 | ' |
Note_17_Retirement_Plans_Detai
Note 17 - Retirement Plans (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Deferred Compensation Arrangement with Individual, Employer Contribution | $424 | $373 |
Note_18_Commitments_Details
Note 18 - Commitments (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Disclosure Text Block Supplement [Abstract] | ' | ' |
Operating Leases, Rent Expense | $2,896 | $2,978 |
Operating Leases, Income Statement, Sublease Revenue | $203 | $356 |
Note_18_Commitments_Details_Mi
Note 18 - Commitments (Details) - Minimum Future Operating Lease Commitments (USD $) | Dec. 28, 2013 |
In Thousands, unless otherwise specified | |
Minimum Future Operating Lease Commitments [Abstract] | ' |
2014 | $2,904 |
2015 | 2,601 |
2016 | 1,863 |
2017 | 1,509 |
2018 | 1,302 |
Thereafter | 508 |
Total | $10,687 |
Note_19_Related_Party_Transact1
Note 19 - Related Party Transactions (Details) (Machon and Associates [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Machon and Associates [Member] | ' | ' |
Note 19 - Related Party Transactions (Details) [Line Items] | ' | ' |
Related Party Transaction, Amounts of Transaction | $43 | $45 |
Note_20_Selected_Quarterly_Fin2
Note 20 - Selected Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' |
Severance Costs | $4,800,000 | $5,181,000 | $0 |
Note_20_Selected_Quarterly_Fin3
Note 20 - Selected Quarterly Financial Information (Unaudited) (Details) - Quarterly Financial Information (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | |
Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Sales | $45,849 | [1] | $41,320 | $42,379 | $41,230 | $37,019 | $34,839 | $35,753 | $38,206 | $170,778 | $145,817 |
Gross Profit | 11,794 | [1] | 10,684 | 11,262 | 10,621 | 10,099 | 9,675 | 9,656 | 10,285 | 44,361 | 39,715 |
Operating Income | -2,479 | [1] | 1,806 | 1,714 | 1,514 | 1,330 | 1,107 | 1,015 | 1,776 | 2,555 | 5,228 |
Net Income | ($1,582) | [1] | $1,142 | $1,470 | $960 | $1,029 | $634 | $505 | $1,059 | $1,990 | $3,227 |
Income Per Share (in Dollars per share) | ($0.13) | [1] | $0.09 | $0.12 | $0.08 | $0.09 | $0.05 | $0.04 | $0.08 | $0.16 | $0.26 |
[1] | Includes severance and other charges of $4.8 million (see note 21). |
Note_21_Restructuring_and_Othe1
Note 21 - Restructuring and Other Charges (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||||||
Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | |
Company Portion [Member] | Stockholder Group Portion (To be reimbursed) [Member] | Related to Research and Development Tax Credit Study [Member] | President and CEO [Member] | Election to Board of Directors [Member] | Proxy Contest, Stockholder Meeting [Member] | Facilities Consolidation Charges [Member] | ||||
Proxy Contest, Stockholder Meeting [Member] | Proxy Contest, Stockholder Meeting [Member] | |||||||||
Note 21 - Restructuring and Other Charges (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance Costs | $4,800,000 | $5,181,000 | $0 | ' | ' | ' | $2,900,000 | ' | ' | ' |
Restructuring and Related Cost, Incurred Cost | ' | ' | ' | 1,000,000 | 600,000 | ' | ' | 4,500,000 | 1,600,000 | 500,000 |
Professional Fees | ' | ' | ' | ' | ' | $200,000 | ' | ' | ' | ' |
Schedule_II_Valuation_and_Qual2
Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - Valuation and Qualifying Accounts and Reserves (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Allowance for Doubtful Accounts [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Balance at Beginning of Period | $1,207 | $1,455 |
Charged to Costs and Expenses | 301 | 150 |
Deduction | -530 | 398 |
Balance at End of Period | 978 | 1,207 |
Legal Reserve [Member] | ' | ' |
Valuation Allowance [Line Items] | ' | ' |
Balance at Beginning of Period | 175 | 340 |
Charged to Costs and Expenses | 88 | 25 |
Deduction | -75 | 190 |
Balance at End of Period | $188 | $175 |