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SUBSEQUENT EVENTS
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9 Months Ended |
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Sep. 29, 2012
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| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS |
NOTE 12 --SUBSEQUENT EVENTS
On October 22, 2012, the Company modified is current Credit Agreement with its current bank (the “Credit Agreement”) to increase the limit of its existing line of credit facility by $5,000,000 to a maximum of $30,000,000. The increase will be in effect for one year and the maximum line of credit availability will revert back to $25,000,000 on October 22, 2013. None of the other provisions of the credit agreement were changed as a result of this modification. The Company will use the additional line to purchase inventory for the Nuclear Facility project that was announced on August 22, 2012.
The Company performs an evaluation of events that occur after the balance sheet date but before its financial statements are issued for potential recognition or disclosure of such events in its financial statements. The Company evaluated subsequent events through the date that the financial statements were issued.
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