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