I've been working on a solution to this problem for a while now so thought I'd post the workaround that I found.
I am importing landsat bands and attempting to reclassify the DN Values 0-255 into two new classes, for example 0 and 1. For most bands, using the reclassify function works. However, for some band files, reclassifying either does not work and I get an error message,
The input raster minimum/maximum (huge number) is out of range. To ensure a correct reclassification, edit ranges or use a different precision settings in the reclassification dialog box.
Sometimes the reclassify tool works, but my output is incorrect - an image showing vertical lines or bands with values 0 and no data.
I tried to calculate statistics first because I noticed that this file, unlike the other files I worked with, did not have statistics calculated, but when I tried that I get the error message,
Invalid drop item: One or more dropped items were invalid and will not be added to the control.
My solution:
Build an attribute table for the raster data set.
Build Statistics by clicking the symbology tab "discrete color".
Reclassify the raster by using the tool "reclass by table". I built the table in the reclassify tool - it's easy there to create and save a table based on your preferences for the reclass function.
This successfully built a correctly reclassed image for me.
Hope this helps someone struggling with the same problems!