Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

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Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2012
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 5—PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment, net is comprised of the following (in thousands):

 

                 
    June 30,
2012 		    December 31,
2011 		 

Land

   $ 175     $ 247  

Building

     234       317  

Leasehold improvements

     957       957  

Equipment and computers

     5,933       5,729  

Furniture and fixtures

     1,042       1,036  

Construction in progress

     279       26  
   

 

 

    

 

 

  
      8,620       8,312  

Accumulated depreciation and amortization

     (7,295 )      (7,164 ) 
   

 

 

    

 

 

  

Property, plant, and equipment, net

   $ 1,325     $ 1,148  
   

 

 

    

 

 

  

 

Depreciation and amortization expense related to property, plant, and equipment totaled approximately $90,000 and $182,000 for the three and six months ended June 30, 2012, respectively, and $151,000 and $346,000 for the three and six months ended June 30, 2011, respectively.

On June 12, 2012, management entered into a Sale and Purchase Agreement in which the Company agreed to sell the smaller of two buildings and a portion of the land parcel of its two-building property in Floss, Germany. The purchase price was €110,000, or approximately $138,000, which could be reduced by settlement and other costs at escrow close. As of June 30, 2012, the Company reclassified the land and building being sold to assets held for sale at their respective purchase price. The Company is undertaking an appraisal of the remaining property and expects to record the final effects of the sale in the quarter ending September 30, 2012.