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Note 17 - Restructuring | 3 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | 17) Restructuring The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. Related charges may include third party assistance with analysis and implementation of these activities. 2025 Restructuring Initiatives The Company continues to focus its efforts to reduce cost and improve productivity across its businesses. Restructuring expenses primarily related to facility rationalizations and consolidations. The Company expects the 2025 restructuring activities to be completed by fiscal year 2026. Prior Year Restructuring Initiatives Restructuring expenses primarily related to headcount reductions and other cost saving initiatives within our Engraving and Electronics segments. The Company expects the prior year restructuring activities to be completed by fiscal year 2025. A summary of charges by initiative is as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2024 |
Fiscal Year 2025 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Current year initiatives |  | $ | 266 |  |  | $ | 165 |  |  | $ | 431 |
Prior year initiatives |  |  | 344 |  |  |  | 311 |  |  |  | 655 |
|  | $ | 610 |  |  | $ | 476 |  |  | $ | 1,086 |
|  | Three Months Ended |
|  | September 30, 2023 |
Fiscal Year 2024 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Current year initiatives |  | $ | 1,427 |  |  | $ | 345 |  |  | $ | 1,772 |
Prior year initiatives |  |  | 126 |  |  |  | 8 |  |  |  | 134 |
|  | $ | 1,553 |  |  | $ | 353 |  |  | $ | 1,906 |
Activity in the restructuring liability 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, 2024 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 266 |  |  |  | 165 |  |  |  | 431 |
Payments |  |  | (266 | ) |  |  | (165 | ) |  |  | (431 | )
Restructuring liabilities at September 30, 2024 |  | $ | - |  |  | $ | - |  |  | $ | - |
Prior Year Initiatives |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2024 |  | $ | 1,253 |  |  | $ | 194 |  |  | $ | 1,447 |
Additions and adjustments |  |  | 344 |  |  |  | 311 |  |  |  | 655 |
Payments |  |  | (362 | ) |  |  | (436 | ) |  |  | (798 | )
Restructuring liabilities at September 30, 2024 |  | $ | 1,235 |  |  | $ | 69 |  |  | $ | 1,304 |
Prior Year |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2023 |  | $ | 1,104 |  |  | $ | 192 |  |  | $ | 1,296 |
Additions and adjustments |  |  | 1,553 |  |  |  | 353 |  |  |  | 1,906 |
Payments |  |  | (1,144 | ) |  |  | (365 | ) |  |  | (1,509 | )
Restructuring liabilities at September 30, 2023 |  | $ | 1,513 |  |  | $ | 180 |  |  | $ | 1,693 |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2024 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Engraving |  | $ | 531 |  |  | $ | 476 |  |  | $ | 1,007 |
Corporate |  |  | 79 |  |  |  | - |  |  |  | 79 |
|  | $ | 610 |  |  | $ | 476 |  |  | $ | 1,086 |
|  | Three Months Ended |
|  | September 30, 2023 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Electronics |  | $ | 244 |  |  | $ | 31 |  |  | $ | 275 |
Engraving |  |  | 793 |  |  |  | 322 |  |  |  | 1,115 |
Engineering Technologies |  |  | 42 |  |  |  | - |  |  |  | 42 |
Corporate |  |  | 474 |  |  |  | - |  |  |  | 474 |
|  | $ | 1,553 |  |  | $ | 353 |  |  | $ | 1,906 |
Restructuring expense is expected to be approximately $4.0 million for the remainder of fiscal year 2025.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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