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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 25, 2021
Jun. 25, 2020
Mar. 26, 2020
CURRENT ASSETS:      
Cash $ 1,043 $ 1,535 $ 993
Accounts receivable, less allowance for doubtful accounts of $291, $391 and $387 64,502 56,953 68,042
Inventories 151,757 172,068 188,514
Prepaid expenses and other current assets 6,481 8,315 5,249
TOTAL CURRENT ASSETS 223,783 238,871 262,798
PROPERTY, PLANT AND EQUIPMENT:      
Land 9,277 9,285 9,285
Buildings 110,739 110,294 110,278
Machinery and equipment 225,583 218,021 215,310
Furniture and leasehold improvements 5,322 5,179 5,170
Vehicles 604 682 682
Construction in progress 9,662 2,244 4,104
Property, plant and equipment gross 361,187 345,705 344,829
Less: Accumulated depreciation 247,812 239,013 237,171
Property, plant and equipment net 113,375 106,692 107,658
Rental investment property, less accumulated depreciation of $12,623, $12,018 and $11,816 16,500 17,105 17,306
TOTAL PROPERTY, PLANT AND EQUIPMENT 129,875 123,797 124,964
Intangible assets, net 10,464 12,125 12,704
Cash surrender value of officers' life insurance and other assets 9,647 11,875 9,967
Deferred income taxes 5,051 6,788 5,973
Goodwill 9,650 9,650 9,650
Operating lease right-of-use assets 3,758 4,351 4,638
TOTAL ASSETS 392,228 407,457 430,694
CURRENT LIABILITIES:      
Revolving credit facility borrowings 26,005 27,008 38,175
Current maturities of long-term debt, including related party debt of $616, $585 and $574 and net of unamortized debt issuance costs of $17, $25 and $27 3,828 5,285 6,197
Accounts payable 43,684 36,323 54,856
Bank overdraft 1,509 2,041 2,091
Accrued payroll and related benefits 19,224 25,641 21,116
Other accrued expenses 12,422 15,870 12,774
TOTAL CURRENT LIABILITIES 106,672 112,168 135,209
LONG-TERM LIABILITIES:      
Long-term debt, less current maturities, including related party debt of $8,481, $8,947 and $9,097 and net of unamortized debt issuance costs of $7, $19 and $24 11,842 14,730 15,670
Retirement plan 32,433 31,573 25,449
Long-term operating lease liabilities, net of current portion 2,359 2,990 3,259
Other 8,019 7,758 7,839
TOTAL LONG-TERM LIABILITIES 54,653 57,051 52,217
TOTAL LIABILITIES 161,325 169,219 187,426
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:      
Capital in excess of par value 125,693 123,899 123,613
Retained earnings 113,993 124,058 125,273
Accumulated other comprehensive loss (7,695) (8,630) (4,529)
Treasury stock, at cost; 117,900 shares of Common Stock (1,204) (1,204) (1,204)
TOTAL STOCKHOLDERS' EQUITY 230,903 238,238 243,268
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY 392,228 407,457 430,694
Class A Common Stock [Member]      
STOCKHOLDERS' EQUITY:      
Common Stock 26 26 26
TOTAL STOCKHOLDERS' EQUITY 26 26 26
Common Stock, Non-Cumulative Voting Rights of One Vote Per Share [Member]      
STOCKHOLDERS' EQUITY:      
Common Stock 90 89 89
TOTAL STOCKHOLDERS' EQUITY $ 90 $ 89 $ 89