NOTE 13 – EMPLOYEE SAVINGS PLAN
The Company maintains a 401(k) Employee Savings Plan in the U.S. and a Registered Retirement Savings Plan in Canada in which all employees are eligible to participate. The Company may make matching contributions to the savings plans at the discretion of the Board of Directors. The Company reinstated the matching contributions to the savings plans effective at the beginning of calendar 2011 equal to one-half of the first 4% of participants’ compensation contributed to the plans. The Company recorded expense for the matching contributions of $312,000, $58,000 and $34,000 in fiscal years 2012, 2011 and 2010, respectively.