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Note 16 - Restructuring

12 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

16. restructuring

The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. A summary of charges by initiative is as follows (in thousands):

		Involuntary Employee
		Severance and
Year Ended June 30,		Benefit Costs				Other				Total
2015 Restructuring Initiatives		$	847			$	2,319			$	3,166
Prior Year Initiatives			11				266				277
Total expense		$	858			$	2,585			$	3,443

2014 Restructuring Initiatives		$	1,528			$	8,477			$	10,005
Prior Year Initiatives			72				-				72
Total expense		$	1,600			$	8,477			$	10,077

2013 Restructuring Initiatives		$	1,299			$	1,367			$	2,666
Prior Year Initiatives			-				-				-
Total expense		$	1,299			$	1,367			$	2,666

2015 Restructuring Initiatives

The Company continues to focus on our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions and facility closures. During the second quarter of 2015, the Company announced the closure of our Food Service Equipment U.K. facility and entered into a distribution agreement with a U.K. based partner to reduce channel costs and enhance profitability, expand and strengthen, our U.K. Food Service Equipment group’s presence for all of our brands. We incurred severance and non-cash lease impairment costs of $0.8 million associated with these activities for the year ending June 30, 2015. Restructuring expense related to the 2015 initiatives have been completed.

Activity in the reserves related to 2015 restructuring initiatives is as follows (in thousands):

		Involuntary Employee
		Severance and
		Benefit Costs				Other				Total
Restructuring Liabilities at June 30, 2014		$	-			$	-			$	-
Additions			847				2,319				3,166
Payments			(769	)			(2,013	)			(2,782	)
Restructuring Liabilities at June 30, 2015		$	78			$	306			$	384

Prior Year Initiatives

The Company previously announced a consolidation of our Food Service Equipment Group Cheyenne, Wyoming plant into its Mexico facility and other manufacturing consolidation efforts. During fiscal year 2014 we recorded a non-cash expense of $5.4 million related to the impairment of long-lived assets in Cheyenne. Expenses totaling $0.3 million were recorded during the year ending June 30, 2015. Restructuring activities related to all prior year initiatives are substantially complete. The cumulative expense related to all activities making up this initiative is expected to be $10.4 million.

Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):

		Involuntary Employee
		Severance and
		Benefit Costs				Other				Total
Restructuring Liabilities at June 30, 2013		$	10			$	-			$	10
Additions			1,528				3,051				4,579
Payments			(983	)			(3,051	)			(4,034	)
Restructuring Liabilities at June 30, 2014		$	555			$	-			$	555
Additions			11				266				277
Payments			(566	)			(266	)			(832	)
Restructuring Liabilities at June 30, 2015		$	-			$	-			$	-

The Company’s total restructuring expenses by segment are as follows (in thousands):

		Involuntary Employee
		Severance and
Year Ended June 30,		Benefit Costs				Other				Total
Fiscal Year 2015
Food Service Equipment Group		$	215			$	2,363			$	2,578
Engineering Technologies Group			75				-				75
Engraving Group			220				-				220
Electronics Products Group			348				222				570
Total expense		$	858			$	2,585			$	3,443

Fiscal Year 2014
Food Service Equipment Group		$	746			$	8,408			$	9,154
Engraving Group			667				21				688
Electronics Products Group			187				48				235
Total expense		$	1,600			$	8,477			$	10,077

Fiscal Year 2013
Food Service Equipment Group		$	183			$	25			$	208
Engineering Technologies Group			44				-				44
Engraving Group			776				1,253				2,029
Electronics Products Group			296				89				385
Total expense		$	1,299			$	1,367			$	2,666