Property and Equipment

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property and equipment is comprised of the following:



	June 30,
	2012			2011
	(in thousands)
Land	$	3,009		$	3,009
Buildings and leasehold improvements	18,231			16,029
Computer software and equipment	13,829			14,270
Furniture, fixtures and equipment	14,739			15,847
Construction in Progress	29,045			18,738
	78,853			67,893
Less accumulated depreciation	(30,068		)	(31,074		)
	$	48,785		$	36,819

During the fiscal year ended June 30, 2012, the increase in gross fixed assets from the prior year is largely related to capital expenditures for a new global ERP system that is currently under development. In addition, the Company acquired fixed assets related to various office renovations and new leasehold improvements.

Depreciation expense was $3.5 million, $3.7 million, and $4.1 million, respectively, for the fiscal years ended 2012, 2011, and 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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