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Note 18 - Restructuring
9 Months Ended
Mar. 31, 2019
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 fiscal year
2019,
we also incurred restructuring expenses related to
third
party assistance with analysis and implementation of these activities.
 
Prior Year Restructuring Initiatives
 
During the fiscal year
2018,
we initiated 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
   
Nine Months Ended
 
   
March 31, 2019
   
March 31, 2019
 
Fiscal 2019
 
Involuntary
Employee
Severance and
Benefit Costs
   
Other
   
Total
   
Involuntary
Employee
Severance and
Benefit Costs
   
Other
   
Total
 
Restructuring initiatives
  $
497
    $
5
    $
502
    $
794
    $
75
    $
869
 
Prior year initiatives
   
47
     
-
     
47
     
172
     
132
     
304
 
    $
544
    $
5
    $
549
    $
966
    $
207
    $
1,173
 
 
   
Three Months Ended
   
Nine Months Ended
 
   
March 31, 2018
   
March 31, 2018
 
Fiscal 2018
 
Involuntary
Employee
Severance and
Benefit Costs
   
Other
   
Total
   
Involuntary
Employee
Severance and
Benefit Costs
   
Other
   
Total
 
Restructuring initiatives
  $
265
    $
755
    $
1,020
    $
2,043
    $
2,649
    $
4,692
 
Prior year initiatives
   
7
     
33
     
40
     
161
     
939
     
1,100
 
    $
272
    $
788
    $
1,060
    $
2,204
    $
3,588
    $
5,792
 
 
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
   
794
     
75
     
869
 
Payments
   
(484
)    
(75
)    
(559
)
Restructuring liabilities at March 31, 2019
  $
310
    $
-
    $
310
 
 
Prior Year Initiatives
 
Involuntary
Employee Severance
and Benefit Costs
   
 
 
Other
   
 
 
Total
 
Restructuring liabilities at June 30, 2018
  $
456
    $
25
    $
481
 
Additions and adjustments
   
172
     
132
     
304
 
Payments
   
(545
)    
(151
)    
(696
)
Restructuring liabilities at March 31, 2019
  $
83
    $
6
    $
89
 
 
The Company’s total restructuring expenses by segment are as follows (in thousands):
 
   
Three Months Ended
   
Nine Months Ended
 
   
March 31, 2019
   
March 31, 2019
 
   
Involuntary
Employee
Severance and
Benefit Costs
   
 
 
 
Other
   
 
 
 
Total
   
Involuntary
Employee
Severance and
Benefit Costs
   
 
 
 
Other
   
 
 
 
Total
 
Food Service Equipment
  $
-
    $
-
    $
-
    $
276
    $
91
    $
367
 
Engraving
   
173
     
-
     
173
     
239
     
-
     
239
 
Engineering Technologies
   
-
     
-
     
-
     
17
     
99
     
116
 
Electronics
   
296
     
5
     
301
     
297
     
17
     
314
 
Corporate
   
75
     
-
     
75
     
137
     
-
     
137
 
    $
544
    $
5
    $
549
    $
966
    $
207
    $
1,173
 
 
   
Three Months Ended
   
Nine Months Ended
 
   
March 31, 2018
   
March 31, 2018
 
   
Involuntary
Employee
Severance and
Benefit Costs
   
 
 
 
Other
   
 
 
 
Total
   
Involuntary
Employee
Severance and
Benefit Costs
   
 
 
 
Other
   
 
 
 
Total
 
Food Service Equipment
  $
1
    $
747
    $
748
    $
618
    $
2,201
    $
2,819
 
Engraving
   
186
     
2
     
188
     
925
     
345
     
1,270
 
Engineering Technologies
   
8
     
18
     
26
     
161
     
900
     
1,061
 
Electronics
   
77
     
7
     
84
     
209
     
90
     
299
 
Corporate
   
-
     
14
     
14
     
291
     
52
     
343
 
    $
272
    $
788
    $
1,060
    $
2,204
    $
3,588
    $
5,792
 
 
Restructuring expense is expected to be approximately
$0.8
million for the remainder of fiscal year
2019.