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Note 14 - Severance Costs | 12 Months Ended
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Jun. 30, 2018
Notes to Financial Statements |
Compensation and Employee Benefit Plans [Text Block] | NOTE 14 – SEVERANCE COSTS The Company recorded severance charges of $1,900,000, 523,000 and $469,000 in fiscal 2018, 2017 and 2016, respectively. This severance expense was related to reductions in staffing not related to plant restructuring. Included in fiscal 2018 severance expense is severance expense related to the departure of the Company’s Chief Executive Officer. See further discussion below. The activity in the Company’s accrued severance liability was as follows for the twelve months ended June 30, 2018 and 2017:
|  | Fiscal |  |  | Fiscal |
|  | Year Ended |  |  | Year Ended |
(In thousands) |  | June 30, |  |  | June 30, |
|  | 2018 |  |  | 2017 |
Balance at beginning of the period |  | $ | 235 |  |  | $ | 39 |
Accrual of expense |  |  | 1,900 |  |  |  | 523 |
Payments |  |  | (363 | ) |  |  | (313 | )
Adjustments |  |  | — |  |  |  | (14 | )
Balance at end of the period |  | $ | 1,772 |  |  | $ | 235 |
On April 23, 2018, the Company’s Board of Directors announced the appointment of an interim Chief Executive Officer (CEO) and Chief Operating Officer in connection with the departure of Dennis Wells, the Company’s CEO. The $1,772,000 severance liability represents the severance benefits Mr. Wells in entitled to receive under his employment agreement. Of the total $1,772,000, $640,000 has been classified as a current liability and will be paid out over the next twelve months. The remaining $1,132,000 has been classified as a long-term liability.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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