AMIC » Topics » 10. Restructuring Reserve

This excerpt taken from the AMIC 10-K filed Mar 16, 2006.

10.  Restructuring Reserve


On December 28, 2000, the Company’s Board of Directors approved a plan to reduce its corporate headquarters staff in conjunction with discontinuing certain businesses.  During the year ended December 31, 2005, the Company reversed the remaining reserve of $67,000 related to the restructuring.  This reserve primarily related to the lease obligations of the former corporate headquarters in San Francisco, California, which expired on July 31, 2005; the Company also had an $800,000 security deposit with respect to this liability which was returned to the Company in August 2005.


The balance of restructuring reserve as of December 31, 2005 and December 31, 2004, and activity during that period is as follows (in thousands):


    

2005 

  

2004 

Balance, beginning of year

  

$

300 

 

$

866 

 

Less: change in estimated costs

   

(67)

  

 

Less: Payments

   

(233)

  

(566)

Balance, end of year:

  

$

 

$

300 

This excerpt taken from the AMIC 10-Q filed Nov 9, 2005.

10.   Restructuring Reserve


On December 28, 2000, the Company’s Board of Directors approved a plan to reduce its corporate headquarters staff in conjunction with discontinuing certain businesses.  During the quarter ended September 30, 2005, the Company reversed the remaining reserve of $67,000 relating to the restructuring.  This reserve primarily related to the lease obligations of the former corporate headquarters in San Francisco, California, which expired on July 31, 2005; the Company also had an $800,000 security deposit with respect to this liability which was returned to the Company in August 2005.  


EXCERPTS ON THIS PAGE:

10-K
Mar 16, 2006
10-Q
Nov 9, 2005
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