Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Details)

v2.4.0.6
ACQUISITION (Details) (USD $)
 3 Months Ended 9 Months Ended
Sep. 29, 2012
Oct. 01, 2011
Sep. 29, 2012
Oct. 01, 2011
Aug. 21, 2012
Business Acquisition [Line Items]          
Total purchase price after adjustments at closing         $ 28,054,000
Contingent Consideration [Abstract]          
Current portion of contingent consideration 2,500,000   2,500,000    
Controller of Palmer [Member]
          
Contingent Consideration [Abstract]          
Term of employment agreement         Pursuant to the Stock Purchase Agreement, the Company has entered into a three-year employment agreement with the current President of Palmer and a one-year employment agreement with the current Controller of Palmer.
Uses of funds [Abstract]          
Cash paid to escrow agent for the retention of and the termination of the employment Agreement for the Controller     450,000    
Lee Var [Member]
          
Business Acquisition [Line Items]          
Preacquisition contingency, amount         1,200,000
Contingent Consideration [Abstract]          
Shareholders potential earn-out payment, minimum         2,500,000
Shareholders potential earn-out payment, maximum         10,500,000
Uses of funds [Abstract]          
Cash paid for portion of sellers' investment banker     500,000    
Business Acquisition, Purchase Price Allocation [Abstract]          
Cash and cash equivalents         1,389,054
Accounts receivable, net         5,789,745
Inventories, net         5,538,652
Prepaid expenses         75,804
Net fixed assets         4,799,692
Goodwill         0
Contingent consideration         0
Other liabilities assumed         (6,833,315)
Total Purchase Price Allocation, net         10,759,632
Revenue of Acquiree since Acquisition Date, Actual 4,297,000   4,297,000    
Earnings of Acquiree since Acquisition Date, Actual 878,000   878,000    
Palmer [Member]
          
Business Acquisition [Line Items]          
Indemnification asset         1,200,000
Contingent Consideration [Abstract]          
Business Combination, Contingent Consideration Arrangements, Description     At the end of each year for the next three years, if EBITDA for the year is below $5,825,000, there will not be an earn-out paid for that year. If EBITDA for the year is greater than $5,825,000 but less than $6,825,000, the sellers will be paid $2,500,000. If EBITDA exceeds $6,825,000 for the year, the earn-out would be $3,500,000. At the conclusion of the three-year earn-out period, in the event that the cumulative adjusted EBITDA for the earn-out period is more than $17,475,000, the sellers will receive an additional earn-out payment, if any, as follows. In the event that the cumulative EBITDA for the earn-out period is greater than $17,475,000 but less than $20,475,000, the Company will make an additional earn-out payment so that the total cumulative earn-out payments for the three-year earn-out period equals $7,500,000. If the cumulative EBITDA exceeds $20,475,000, the Company will make an additional earn-out payment so that the total cumulative earn-out payments for the three-year period equals $10,500,000. The Company is currently forecasting earn out payments totaling $8,500,000, which was discounted to a present value of $8,152,000 using our incremental borrowing rate of 2%. $2,500,000 of this liability was classified as a current liability since the first payment is expected to be made within the next year.    
Expected cash payments for contingent consideration         8,500,000
Current portion of contingent consideration         2,500,000
Post closing contingency period         three years
Sources of funds [Abstract]          
Proceeds of revolving loan     6,591,597    
Proceeds of term loan     22,500,000    
Total sources of funds     29,091,597    
Uses of funds [Abstract]          
Acquisition of Palmer     25,575,000    
Cash paid at closing for preliminary working capital adjustment     2,479,467    
Other transaction costs     87,130    
Total uses of funds     29,091,597    
Business Acquisition, Purchase Price Allocation [Abstract]          
Prepaid expenses         1,536,000
Net fixed assets         2,659,870
Goodwill         22,288,126
Contingent consideration         (8,152,031)
Total Purchase Price Allocation, net         18,331,965
Fair value adjustment to Net Fixed Assets         2,659,870
Fair value adjustment to Goodwill         22,288,126
Business Acquisition, Pro Forma Information [Abstract]          
Pro forma revenues 55,336,000 56,147,000 167,817,000 155,147,000  
Pro forma net income $ 1,234,000 $ 428,000 $ 4,503,000 $ 6,132,000  
Earnings Per Share [Abstract]          
Basic $ 0.19 $ 0.07 $ 0.71 $ 0.97  
Diluted $ 0.19 $ 0.07 $ 0.70 $ 0.96