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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended April 3, 2010
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number 1-13970
 CHROMCRAFT REVINGTON, INC.
  Delaware
    
    35-1848094(State or other jurisdiction of 
incorporation or organization)
    
    (IRS Employer Identification No.)
 (Address, including zip code, of registrants principal executive offices)
 (Registrants telephone number, including area code)
 þ o
 o o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
(Do not check if a smaller
 reporting company)
    
    Smaller reporting company þ
 o þ




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PageNumberPART I. Financial InformationItem 1. Financial Statements (unaudited)Condensed Consolidated Statements of Operations 
Three Months Ended April 3, 2010 and April 4, 2009
    
    
    3Condensed Consolidated Balance Sheets  April 3, 2010
and December 31, 2009
    
    
    4Condensed Consolidated Statements of Cash Flows 
Three Months Ended April 3, 2010 and April 4, 2009
    
    
    5Condensed Consolidated Statement of Stockholders
Equity  Three Months Ended April 3, 2010
    
    
    6Notes to Condensed Consolidated Financial Statements
    
    
    7Item 2. Managements Discussion and Analysis of Financial Condition
and Results of Operations
    
    
    10Item 4. Controls and Procedures
    
    
    14PART II. Other InformationItem 6. Exhibits
    
    
    14SIGNATURES
    
    
    15Exhibit 10.46Exhibit 31.1Exhibit 31.2Exhibit 32.1
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Three Months EndedApril 3,
    
    
    April 4,2010
    
    
    2009Sales
    
    $
    13,907
    
    
    $
    16,653Cost of sales
    
    
    11,201
    
    
    
    15,571Gross margin
    
    
    2,706
    
    
    
    1,082Selling, general and administrative expenses
    
    
    3,611
    
    
    
    4,157Operating loss
    
    
    (905
    )
    
    
    (3,075
    )Interest expense, net
    
    
    (75
    )
    
    
    (77
    )Net loss
    
    $
    (980
    )
    
    $
    (3,152
    )Basic and diluted loss per share of common stock
    
    $
    (.21
    )
    
    $
    (.69
    )Shares used in computing loss per share
    
    
    4,667
    
    
    
    4,594
 See accompanying notes to condensed consolidated financial statements.
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April 3,
    
    
    December 31,2010
    
    
    2009AssetsCash and cash equivalents
    
    $
    8,108
    
    
    $
    3,636Accounts receivable, less allowance of $450 in 2010 and 2009
    
    
    7,420
    
    
    
    7,661Refundable income taxes
    
    
    
    
    
    
    6,578Inventories
    
    
    13,108
    
    
    
    13,294Prepaid expenses and other
    
    
    1,211
    
    
    
    990Current assets
    
    
    29,847
    
    
    
    32,159Property, plant and equipment, net
    
    
    8,111
    
    
    
    8,293Other assets
    
    
    689
    
    
    
    667Total assets
    
    $
    38,647
    
    
    $
    41,119Liabilities and Stockholders EquityAccounts payable
    
    $
    2,807
    
    
    $
    3,364Accrued liabilities
    
    
    2,952
    
    
    
    3,905Current liabilities
    
    
    5,759
    
    
    
    7,269Deferred compensation
    
    
    569
    
    
    
    599Other long-term liabilities
    
    
    1,677
    
    
    
    1,669Total liabilities
    
    
    8,005
    
    
    
    9,537Stockholders equity
    
    
    30,642
    
    
    
    31,582Total liabilities and stockholders equity
    
    $
    38,647
    
    
    $
    41,119
 See accompanying notes to condensed consolidated financial statements.
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Three Months EndedApril 3,
    
    
    April 4,2010
    
    
    2009Operating ActivitiesNet loss
    
    $
    (980
    )
    
    $
    (3,152
    )Adjustments to reconcile net loss to
net cash provided by operating activitiesDepreciation and amortization expense
    
    
    224
    
    
    
    263Non-cash share based and ESOP compensation expense
    
    
    42
    
    
    
    47Provision for doubtful accounts
    
    
    12
    
    
    
    116Non-cash inventory write-downs
    
    
    152
    
    
    
    163Non-cash asset impairment charges
    
    
    
    
    
    
    6Changes in operating assets and liabilitiesAccounts receivable
    
    
    229
    
    
    
    3,573Refundable income taxes
    
    
    6,578
    
    
    
    Inventories
    
    
    34
    
    
    
    5,294Prepaid expenses and other
    
    
    (221
    )
    
    
    (102
    )Accounts payable and accrued liabilities
    
    
    (1,512
    )
    
    
    (2,202
    )Long-term liabilities and assets
    
    
    (44
    )
    
    
    (73
    )Cash provided by operating activities
    
    
    4,514
    
    
    
    3,933Investing ActivitiesCapital expenditures
    
    
    (42
    )
    
    
    (73
    )Proceeds on disposal of assets
    
    
    
    
    
    
    484Cash provided by (used in) investing activities
    
    
    (42
    )
    
    
    411Change in cash and cash equivalents
    
    
    4,472
    
    
    
    4,344Cash and cash equivalents at beginning of the period
    
    
    3,636
    
    
    
    879Cash and cash equivalents at end of the period
    
    $
    8,108
    
    
    $
    5,223
 See accompanying notes to condensed consolidated financial statements.
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Capital in
    
    
    Unearned
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    TotalCommon Stock
    
    
    Excess of
    
    
    ESOP
    
    
    Retained
    
    
    Treasury Stock
    
    
    StockholdersShares
    
    
    Amount
    
    
    Par Value
    
    
    Shares
    
    
    Earnings
    
    
    Shares
    
    
    Amount
    
    
    EquityBalance at January 1, 2010
    
    
    7,947,923
    
    
    $
    80
    
    
    $
    17,085
    
    
    $
    (14,679
    )
    
    $
    50,256
    
    
    
    (1,819,154
    )
    
    $
    (21,160
    )
    
    $
    31,582ESOP compensation
expense
    
    
    
    
    
    
    
    
    
    
    (129
    )
    
    
    169
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    40Net loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (980
    )
    
    
    
    
    
    
    
    
    
    
    (980
    )Balance at April 3, 2010
    
    
    7,947,923
    
    
    $
    80
    
    
    $
    16,956
    
    
    $
    (14,510
    )
    
    $
    49,276
    
    
    
    (1,819,154
    )
    
    $
    (21,160
    )
    
    $
    30,642
 See accompanying notes to condensed consolidated financial statements.
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Note 1. Basis of Presentation
      Note 2. Cash and Cash Equivalents
  Note 3. Inventories
  (In thousands)April 3,
    
    
    December 31,2010
    
    
    2009Raw materials
    
    $
    4,156
    
    
    $
    4,364Work-in-process
    
    
    1,012
    
    
    
    903Finished goods
    
    
    7,940
    
    
    
    8,027$
    13,108
    
    
    $
    13,294
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Note 4. Property, Plant and Equipment
  (In thousands)April 3,
    
    
    December 31,2010
    
    
    2009Land
    
    $
    324
    
    
    $
    324Buildings and improvements
    
    
    18,438
    
    
    
    18,438Machinery and equipment
    
    
    23,071
    
    
    
    23,069Leasehold improvements
    
    
    711
    
    
    
    711Construction in progress
    
    
    424
    
    
    
    38442,968
    
    
    
    42,926Less accumulated depreciation
and amortization
    
    
    (34,857
    )
    
    
    (34,633
    )$
    8,111
    
    
    $
    8,293
  Note 5. Accrued Liabilities
  (In thousands)April 3,
    
    
    December 31,2010
    
    
    2009Employee-related benefits
    
    $
    804
    
    
    $
    1,043Property tax
    
    
    261
    
    
    
    483Compensation related
    
    
    91
    
    
    
    441Other accrued liabilities
    
    
    1,796
    
    
    
    1,938$
    2,952
    
    
    $
    3,905
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Note 6. Bank Debt
   Note 7. Employee Stock Ownership Plan
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(In thousands)April 3,
    
    
    December 31,2010
    
    
    2009Allocated shares
    
    
    255
    
    
    
    240Unearned ESOP shares
    
    
    1,451
    
    
    
    1,468Total ESOP shares
    
    
    1,706
    
    
    
    1,708Unearned ESOP shares, at cost
    
    $
    14,510
    
    
    $
    14,679Fair value of unearned ESOP shares
    
    $
    3,627
    
    
    $
    3,347
 Note 8. Income Taxes
  Note 9. Loss per Share of Common Stock
  Note 10. Recently Issued Accounting Standards
  
 Item 2. Managements Discussion and Analysis of Financial Condition and Results of
Operations
 Overview
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Results of Operations
  Three Months EndedApril 3,
    
    
    April 4,2010
    
    
    2009Sales
    
    
    100.0
    %
    
    
    100.0
    %Cost of sales
    
    
    80.5
    
    
    
    93.5Gross margin
    
    
    19.5
    
    
    
    6.5Selling, general and administrative expenses
    
    
    26.0
    
    
    
    25.0Operating loss
    
    
    (6.5
    )
    
    
    (18.5
    )Interest expense
    
    
    (0.5
    )
    
    
    (0.4
    )Net loss
    
    
    (7.0
    )%
    
    
    (18.9
    )%
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Financial Condition, Liquidity and Capital Resources
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Recently Issued Accounting Standards
  Forward-Looking Statements
    13




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Item 4. Controls and Procedures
 Form 10-Q.
  
  
 Item 6. Exhibits
 3.1
    
    
    Certificate of Incorporation of the Registrant, as amended, filed as Exhibit 3.1 to Form S-1,
registration number 33-45902, as filed with the Securities and Exchange Commission on February
21, 1992, is incorporated herein by reference.3.2
    
    
    By-laws of the Registrant, as amended, filed as Exhibit 3.2 to Form 8-K, as filed with the
Securities and Exchange Commission on October 16, 2009, is incorporated herein by reference.10.46
    
    
    First Amendment to the Amended and Restated Directors Stock Plan of Chromcraft Revington,
Inc., effective January 1, 2010 (filed herewith).31.1
    
    
    Certification of Chief Executive Officer required pursuant to 18 U.S.C. § 1350, as adopted
pursuant to § 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).31.2
    
    
    Certification of Vice President  Finance and Principal Financial Officer required pursuant
to 18 U.S.C. § 1350, as adopted pursuant to § 302 of the Sarbanes-Oxley Act of 2002 (filed
herewith).32.1
    
    
    Certifications of Chief Executive Officer and Vice President  Finance and Principal
Financial Officer required pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the
Sarbanes-Oxley Act of 2002 (filed herewith).
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SIGNATURES
  Chromcraft Revington, Inc.
(Registrant)Date: May 18, 2010
    By:
    /s/ Ronald H. ButlerRonald H. Butler,Chairman and Chief Executive
OfficerDate: May 18, 2010
    By:
    /s/ Myron D. HamasMyron D. Hamas,Vice President  Finance and

Principal Financial Officer  15