Property and Equipment

12 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property and equipment is comprised of the following:



	June 30,
	2013			2012
	(in thousands)
Land	$	3,009		$	3,009
Buildings and leasehold improvements	20,020			18,231
Computer software and equipment	14,338			13,829
Furniture, fixtures and equipment	14,852			14,739
Construction in Progress	629			29,045
	52,848			78,853
Less accumulated depreciation	(32,645		)	(30,068		)
	$	20,203		$	48,785

During the fiscal year ended June 30, 2013, the decrease in gross fixed assets from the prior year is the result of the write-off of the majority of ERP expenses capitalized to date, which were included in construction in progress. In the fourth quarter 2013, the Company ceased development of its ERP project using the Microsoft Dynamics AX software, rendering substantially all of the amount of the project impaired. Of the $28.8 million in capitalized expenses related to the project, the Company wrote off $28.2 million in the fiscal year ended June 30, 2013. The remaining $0.6 million is expected to be placed in service.

Depreciation expense was $3.6 million, $3.5 million, and $3.7 million, respectively, for the fiscal years ended 2013, 2012, and 2011.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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