FBN » Topics » Reclassifications

These excerpts taken from the FBN 10-K filed Feb 29, 2008.

Reclassifications

        Certain amounts in the consolidated financial statements have been reclassified to conform to the 2007 presentation. These reclassifications have no effect on net earnings or stockholders' equity as previously reported. On October 16, 2007 we announced our intent to divest Hickory Business Furniture (HBF) a wholly owned subsidiary that designs and manufactures business furniture in the mid- to upper-price range. We believe it is likely this transaction will be completed by the end of the first quarter of 2008. This business unit is reflected as a discontinued operation, pursuant to the provisions of Statement of Financial Accounting Standard No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets.

Reclassifications



        Certain amounts in the consolidated financial statements have been reclassified to conform to the 2007 presentation. These reclassifications have no effect on net
earnings or stockholders' equity as previously reported. On October 16, 2007 we announced our intent to divest Hickory Business Furniture (HBF) a wholly owned subsidiary that designs and
manufactures business furniture in the mid- to upper-price range. We believe it is likely this transaction will be completed by the end of the first quarter of 2008. This business unit is
reflected as a discontinued operation, pursuant to the provisions of Statement of Financial Accounting Standard No. 144,
Accounting for the Impairment or Disposal of
Long-Lived Assets
.



This excerpt taken from the FBN 10-K filed Mar 1, 2007.

Reclassifications

Certain amounts in the consolidated financial statements have been reclassified to conform to the 2006 presentation. These reclassifications have no effect on net earnings or stockholders’ equity as previously reported.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS) (Continued)
(Dollars in thousands except per share data)

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