Property and Equipment

12 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property and equipment is comprised of the following:



	June 30,
	2014			2013
	(in thousands)
Land	$	3,009		$	3,009
Buildings and leasehold improvements	21,088			20,020
Computer software and equipment	14,770			14,338
Furniture, fixtures and equipment	12,390			14,852
Construction in progress	13,193			629
	64,450			52,848
Less accumulated depreciation	(32,627		)	(32,645		)
	$	31,823		$	20,203

During the fiscal year ended June 30, 2014, the increase in gross fixed assets from the prior year is largely due to capital expenditures for the new ERP system using SAP software that is currently under development. In the fourth quarter of 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 was placed into service in July 2014.

Depreciation expense was $3.5 million, $3.6 million, and $3.5 million, respectively, for the fiscal years ended 2014, 2013, and 2012.

- 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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