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Note 17 - Restructuring
 3 Months Ended
Sep. 30, 2015
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]

17)      Restructuring


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


   

Three Months Ended

  
   

September 30, 2015

  

Fiscal 2016

  

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Restructuring initiatives

   $ 34     $ 60     $ 94  

Prior year initiatives

     37       1,388       1,425  
    $ 71     $ 1,448     $ 1,519  

   

Three Months Ended

  
   

September 30, 2014

  

Fiscal 2015

  

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Restructuring initiatives

   $ 34     $ 3     $ 37  

Prior year initiatives

     125       700       825  
    $ 159     $ 703     $ 862  

2016 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. The Company’s 2016 initiatives have commenced at the specialty solutions division of the Food Service Equipment group and at our U.K. based Engineering Technologies group.


   

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Restructuring liabilities at July 1, 2015

   $ -     $ -     $ -  

Additions and adjustments

     34       60       94  

Payments

     (34 )     (60 )     (94 )

Restructuring liabilities at September 30, 2015

   $ -     $ -     $ -  

Prior Year Initiatives


The Company previously announced 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.


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


   

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Restructuring liabilities at June 30, 2015

   $ 82     $ 301     $ 383  

Additions and adjustments

     39       1,388       1,427  

Payments

     (116 )     (1,464 )     (1,580 )

Restructuring liabilities at September 30, 2015

   $ 5     $ 225     $ 230  

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


   

Three Months Ended

  
   

September 30, 2015

  
   

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Food Service Equipment Group

   $ -     $ 1,360     $ 1,360  

Engraving Group

     2       -       2  

Engineering Technologies Group

     34       -       34  

Electronics Products Group

     35       88       123  
    $ 71     $ 1,448     $ 1,519  

   

Three Months Ended

  
   

September 30, 2014

  
   

Involuntary Employee Severance and Benefit Costs

    

Other

    

Total

  

Food Service Equipment Group

   $ 114     $ 561     $ 675  

Engraving Group

     34       3       37  

Electronics Products Group

     11       139       150  
    $ 159     $ 703     $ 862  

We incurred severance and other costs of $1.5 million associated with these activities during the three months ended September 30, 2015, which includes $1.2 million of non-cash expenses to reduce the net book value of a closed facility to its net realizable value. Restructuring expense is expected to be $2.9 million for fiscal year 2016, of which $1.5 million was incurred for the period ending September 30, 2015.