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Note 19 - Discontinued Operations | 12 Months Ended
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Jun. 30, 2022
Discontinued Operations [Member] |
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 19. DISCONTINUED OPERATIONS In pursuing our business strategy, the Company continues to divest certain businesses and record activities of these businesses as discontinued operations. During the third quarter of fiscal 2020, in order to focus its financial assets and managerial resources on its remaining portfolio of businesses, the Company entered into a definitive agreement to sell the Refrigerated Solutions Group, consisting of the Master-Bilt and NorLake operating segments, to Ten Oaks Group for a cash purchase price of $10.6 million, subject to post-closing adjustments and various transaction fees. The Refrigerated Solutions Group was a part of the Company's Food Service Equipment segment, and manufactured refrigerated cabinets and walk-ins for customers food service and retail end markets. The transaction closed on April 16, 2020 and resulted in a pre-tax loss of $20.0 million less related transaction expenses of $1.9 million. The Company reported a tax benefit related to the loss on sale of $2.6 million. Activity related to the Refrigerated Solutions Group and other discontinued operations for the years ended is as follows (in thousands):
|  | Year Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Net sales |  | $ | - |  |  | $ | - |  |  | $ | 111,841 |
Gain (loss) on sale of business |  | $ | - |  |  | $ | - |  |  | $ | (19,996 | )
Transaction fees |  |  | - |  |  |  | - |  |  |  | (1,933 | )
Profit (loss) before taxes |  | $ | (113 | ) |  | $ | (2,620 | ) |  | $ | (23,439 | )
Benefit (provision) for taxes |  |  | 24 |  |  |  | 550 |  |  |  | 2,613 |
Net income (loss) from discontinued operations |  | $ | (89 | ) |  | $ | (2,070 | ) |  | $ | (20,826 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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