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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2015

EMPLOYEE BENEFIT PLANS

Schedule of the changes in the plans benefit obligations, fair value of assets and funded status

The following provides a reconciliation of the changes in the plans’ benefit obligations and fair value of assets for fiscal years 2014 and 2015, and a statement of the funded status as of June 30, 2014 and 2015 (in thousands):

		2014			2015
Change in Benefit Obligation
Benefit obligation at beginning of year		$	12,753		$	13,690
Translation adjustment			568			(941)
Service costs			58			34
Interest costs			697			671
Actuarial (gain) loss			(196)			585
Benefits paid			(190)			(143)
Benefit obligation at end of year			13,690			13,896
Change in Plan Assets
Fair value of plan assets at beginning of year			6,523			7,711
Translation adjustment			512			(849)
Actual return on plan assets			479			366
Company contributions			333			77
Benefits paid			(136)			(215)
Fair value of plan assets at end of year			7,711			7,090
Funded status			(5,979)			(6,806)
Unrecognized net actuarial loss			—			—
Net amount recognized		$	(5,979)		$	(6,806)
Amount recognized in consolidated balance sheets consist of:
Investments		$	856		$	782
Accrued pension liability			(6,835)			(6,829)
Accumulated other comprehensive income			2,752			2,488

Schedule of net periodic pension expense

The following table provides the net periodic benefit costs for each of the fiscal years ended June 30, (in thousands):

		2013			2014			2015
Net Periodic Benefit Costs
Service costs		$	70		$	58		$	34
Interest costs			635			697			671
Expected return on plan assets			(360)			(393)			(418)
Amortization of prior service costs			615			615			615
Recognized actuarial loss			197			144			204
Net periodic benefit cost		$	1,157		$	1,121		$	1,106

Schedule of plan assumptions

		2014		2015
Weighted average assumptions at year-end:
Discount rate		5.1	%	4.5	%
Expected return on plan assets		5.7	%	5.1	%
Rate of compensation increase		3.2	%	2.0	%

Schedule of plan assets and investment policy

		Fiscal year ended				Fiscal year ended
		June 30,  2014				June 30,  2015
		Proportion of		Expected Rate		Proportion of		Expected Rate
		Fair Value		of Return		Fair Value		of Return
Equity securities		55	%	8	%	56	%	7	%
Debt securities		36	%	2	%	40	%	2	%
Other		9	%	5	%	4	%	4	%
Combined		100	%	5.7	%	100	%	5.1	%

Schedule of estimated benefits payments, based upon the same assumptions used to measure the benefit obligation and net pension cost

The following table reflects estimated benefits payments, based upon the same assumptions used to measure the benefit obligation and net pension cost, as of June 30, 2015 (in thousands):

		Pension Benefits
July 1, 2015 to June 30, 2016		$	153
July 1, 2016 to June 30, 2017			179
July 1, 2017 to June 30, 2018			233
July 1, 2018 to June 30, 2019			289
July 1, 2019 to June 30, 2020			1,797
July 1, 2020 to June 30, 2025			6,784

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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

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Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

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