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Note 18 - Restructuring
6 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]
18
)      Restructuring
 
The Company has undertaken cost reduction and facility consolidation initiatives that have resulted in severance, restructuring, and related charges.
 
2019
Restructuring Initiatives
 
The Company continues to focus our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations. During the
first
quarter of fiscal year
2019,
we incurred restructuring expenses related to
third
party assistance with analysis and implementation of these activities.
 
Prior Year Restructuring Initiatives
 
During the
first
two
quarters of fiscal year
2018,
we incurred restructuring expenses related to
three
restructuring programs, namely: (
1
) the realignment of management functions at the Food Service Equipment Group level; (
2
) headcount reduction and plant realignment with regard to the standard products businesses within Food Service Equipment; and (
3
) the exit of an unprofitable Engraving business in Brazil.
 
A summary of charges by initiative is as follows (in thousands):
 
 
   
Three Months Ended
   
Six Months Ended
 
   
December 31, 2018
   
December 31, 2018
 
Fiscal 2019
 
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Restructuring initiatives
  $
297
    $
(280
)   $
17
    $
297
    $
70
    $
367
 
Prior year initiatives
   
40
     
120
     
160
     
125
     
132
     
257
 
    $
337
    $
(160
)   $
177
    $
422
    $
202
    $
624
 
 
 
   
Three Months Ended
   
Six Months Ended
 
   
December 31, 2017
   
December 31, 2017
 
Fiscal 2018
 
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Restructuring initiatives
  $
142
    $
1,348
    $
1,490
    $
1,777
    $
1,895
    $
3,672
 
Prior year initiatives
   
113
     
172
     
285
     
155
     
905
     
1,060
 
    $
255
    $
1,520
    $
1,775
    $
1,932
    $
2,800
    $
4,732
 
 
 
Activity in the reserve related to the initiatives is as follows (in thousands):
 
Current Year Initiatives
 
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Restructuring liabilities at June 30, 2018
  $
-
    $
-
    $
-
 
Additions and adjustments
   
297
     
70
     
367
 
Payments
   
(201
)    
(20
)    
(221
)
Restructuring liabilities at December 31, 2018
  $
96
    $
50
    $
146
 
 
 
Prior Year Initiatives
 
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Restructuring liabilities at June 30, 2018
  $
456
    $
25
    $
481
 
Additions and adjustments
   
125
     
132
     
257
 
Payments
   
(428
)    
(124
)    
(552
)
Restructuring liabilities at December 31, 2018
  $
153
    $
33
    $
186
 
 
The Company’s total restructuring expenses by segment are as follows (in thousands):
 
   
Three Months Ended
   
Six Months Ended
 
   
December 31, 2018
   
December 31, 2018
 
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Food Service Equipment
  $
255
    $
91
    $
346
    $
276
    $
91
    $
367
 
Engraving
   
20
     
-
     
20
     
67
     
-
     
67
 
Engineering Technologies
   
-
     
99
     
99
     
17
     
99
     
116
 
Electronics
   
-
     
-
     
-
     
-
     
12
     
12
 
Corporate
   
62
     
(350
)    
(288
)    
62
     
-
     
62
 
    $
337
    $
(160
)   $
177
    $
422
    $
202
    $
624
 
 
 
   
Three Months Ended
   
Six Months Ended
 
   
December 31, 2017
   
December 31, 2017
 
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
   
Involuntary Employee Severance and Benefit Costs
   
Other
   
Total
 
Food Service Equipment
  $
100
    $
1,031
    $
1,131
    $
615
    $
1,456
    $
2,071
 
Engraving
   
24
     
249
     
273
     
739
     
343
     
1,082
 
Engineering Technologies
   
113
     
156
     
269
     
154
     
880
     
1,034
 
Electronics
   
-
     
57
     
57
     
132
     
84
     
216
 
Corporate
   
18
     
27
     
45
     
292
     
37
     
329
 
    $
255
    $
1,520
    $
1,775
    $
1,932
    $
2,800
    $
4,732
 
 
Restructuring expense is expected to be approximately
$1.0
million for the remainder of fiscal year
2019.