The Company does not undertake any obligation to update or revise publicly any forward-looking statements to reflect information, events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Condensed Consolidated Statements of Operations (unaudited)
Chromcraft Revington, Inc.
(In thousands, except per share data)
         
Three Months Ended Six Months Ended
July 3, July 4, July 3, July 4,
2010 2009 2010 2009
 
Sales $ 14,008 $ 14,598 $ 27,915 $ 31,251
 
Cost of sales   11,339     12,923     22,540     28,494  
 
Gross margin 2,669 1,675 5,375 2,757
 
Selling, general and administrative expenses   3,937     4,061     7,548     8,218  
 
Operating loss (1,268 ) (2,386 ) (2,173 ) (5,461 )
 
Interest expense, net   (75 )   (78 )   (150 )   (155 )
 
Net loss $ (1,343 ) $ (2,464 ) $ (2,323 ) $ (5,616 )
 
Basic and diluted loss per share of common stock $ (.29 ) $ (.53 ) $ (.50 ) $ (1.22 )
 
Shares used in computing loss per share 4,685 4,613 4,676 4,603
 
Condensed Consolidated Balance Sheets (unaudited)
Chromcraft Revington, Inc.
(In thousands)
     
July 3, December 31,
2010 2009
 
Assets
 
Cash and cash equivalents $ 6,489 $ 3,636
Accounts receivable, less allowance of $450 in 2010 and 2009 7,500 7,661
Refundable income taxes - 6,578
Inventories 13,263 13,294
Prepaid expenses and other   1,218   990
Current assets 28,470 32,159
 
Property, plant and equipment, net 7,956 8,293
Other assets   570   667
 
Total assets $ 36,996 $ 41,119
 
Liabilities and Stockholders' Equity
 
Accounts payable $ 2,620 $ 3,364
Accrued liabilities   2,736   3,905
Current liabilities 5,356 7,269
 
Deferred compensation 524 599
Other long-term liabilities   1,685   1,669
Total liabilities 7,565 9,537
 
Stockholders' equity   29,431   31,582
 
Total liabilities and stockholders' equity $ 36,996 $ 41,119
 
Condensed Consolidated Statements of Cash Flows (unaudited)
Chromcraft Revington, Inc.
(In thousands)
             
Six Months Ended
July 3, July 4,
2010 2009
 
Operating Activities
Net loss $ (2,323 ) $ (5,616 )

Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization expense 472 526
Non-cash share based and ESOP compensation expense 172 68
Provision for doubtful accounts 43 314
Non-cash inventory write-downs 221 576
Non-cash asset impairment charges - 3
Changes in operating assets and liabilities
Accounts receivable 118 3,029
Refundable income taxes 6,578 -
Inventories (190 ) 5,920
Prepaid expenses and other (228 ) (143 )
Accounts payable and accrued liabilities (1,913 ) (2,753 )
Long-term liabilities and assets   38     (123 )
 
Cash provided by operating activities   2,988     1,801  
 
Investing Activities
Capital expenditures (135 ) (105 )
Proceeds on disposal of assets   -     487  
 
Cash provided by (used in) investing activities   (135 )   382  
 
Change in cash and cash equivalents 2,853 2,183
 
Cash and cash equivalents at beginning of the period   3,636     879  
 
Cash and cash equivalents at end of the period $ 6,489   $ 3,062