XML 41 R26.htm IDEA: XBRL DOCUMENT
v3.25.2

Note 15 - Restructuring | 12 Months Ended
--- | ---
Jun. 30, 2025
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | 15. restructuring The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. Restructuring liabilities are included in accrued liabilities on the consolidated balance sheet. A summary of charges by initiative is as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
Year Ended June 30, |  | Benefit Costs |  |  | Other |  |  | Total |
2025 Restructuring Initiatives |  | $ | 2,679 |  |  | $ | 1,164 |  |  | $ | 3,843 |
Prior Year Initiatives |  |  | 2,189 |  |  |  | 871 |  |  |  | 3,060 |
Total expense |  | $ | 4,868 |  |  | $ | 2,035 |  |  | $ | 6,903 |
2024 Restructuring Initiatives |  | $ | 4,484 |  |  | $ | 3,386 |  |  | $ | 7,870 |
Prior Year Initiatives |  |  | 184 |  |  |  | 152 |  |  |  | 336 |
Total expense |  | $ | 4,668 |  |  | $ | 3,538 |  |  | $ | 8,206 |
2023 Restructuring Initiatives |  | $ | 2,361 |  |  | $ | 213 |  |  | $ | 2,574 |
Prior Year Initiatives |  |  | 456 |  |  |  | 801 |  |  |  | 1,257 |
Total expense |  | $ | 2,817 |  |  | $ | 1,014 |  |  | $ | 3,831 |
2025 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. Restructuring expenses primarily related to headcount reductions and other cost saving initiatives. During fiscal year 2025, we also incurred restructuring expenses related to third party assistance with analysis and implementation of these activities.
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
Current Year Initiatives |  |  | Benefit Costs |  |  |  | Other |  |  |  | Total |
Restructuring liabilities at June 30, 2024 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 2,679 |  |  |  | 1,164 |  |  |  | 3,843 |
Payments |  |  | (2,035 | ) |  |  | (1,164 | ) |  |  | (3,199 | )
Restructuring liabilities at June 30, 2025 |  | $ | 644 |  |  | $ | - |  |  | $ | 644 |
Prior Year 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 years 2024 and 2023, the Company also incurred restructuring expenses related to headcount reductions, facility rationalization and third party assistance with analysis and implementation of these activities. The Company expects to incur additional restructuring costs of approximately $5.5 million in fiscal year 2026 as the Company continues to focus its efforts to reduce cost and improve productivity across its businesses, particularly through facility closures and consolidations. Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
Prior Year Initiatives |  |  | Benefit Costs |  |  |  | Other |  |  |  | Total |
Restructuring liabilities at June 30, 2024 |  | $ | 1,253 |  |  | $ | 194 |  |  | $ | 1,447 |
Additions and adjustments |  |  | 2,190 |  |  |  | 870 |  |  |  | 3,060 |
Payments |  |  | (2,690 | ) |  |  | (1,004 | ) |  |  | (3,694 | )
Restructuring liabilities at June 30, 2025 |  | $ | 753 |  |  | $ | 60 |  |  | $ | 813 |
Activity in the reserves in fiscal year 2024 (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
|  | Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2023 |  | $ | 1,104 |  |  | $ | 192 |  |  | $ | 1,296 |
Additions and adjustments |  |  | 4,668 |  |  |  | 3,538 |  |  |  | 8,206 |
Payments |  |  | (4,519 | ) |  |  | (3,536 | ) |  |  | (8,055 | )
Restructuring liabilities at June 30, 2024 |  | $ | 1,253 |  |  | $ | 194 |  |  | $ | 1,447 |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
|  | Benefit Costs |  |  | Other |  |  | Total |
Fiscal Year 2025 |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 1,135 |  |  | $ | 273 |  |  | $ | 1,408 |
Engraving |  |  | 3,561 |  |  |  | 1,762 |  |  |  | 5,323 |
Corporate and Other |  |  | 172 |  |  |  | - |  |  |  | 172 |
Total expense |  | $ | 4,868 |  |  | $ | 2,035 |  |  | $ | 6,903 |
Fiscal Year 2024 |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 903 |  |  | $ | 496 |  |  | $ | 1,399 |
Engineering Technologies |  |  | 54 |  |  |  | - |  |  |  | 54 |
Engraving |  |  | 2,414 |  |  |  | 3,042 |  |  |  | 5,456 |
Corporate and Other |  |  | 1,297 |  |  |  | - |  |  |  | 1,297 |
Total expense |  | $ | 4,668 |  |  | $ | 3,538 |  |  | $ | 8,206 |
Fiscal Year 2023 |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 222 |  |  | $ | 826 |  |  | $ | 1,048 |
Scientific |  |  | 58 |  |  |  | - |  |  |  | 58 |
Engraving |  |  | 836 |  |  |  | 188 |  |  |  | 1,024 |
Specialty Solutions |  |  | - |  |  |  | - |  |  |  | - |
Corporate and Other |  |  | 1,701 |  |  |  | - |  |  |  | 1,701 |
Total expense |  | $ | 2,817 |  |  | $ | 1,014 |  |  | $ | 3,831 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration