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Note 14 - Restructuring Costs | 6 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 1 4 – RESTRUCTURING COSTS In the first quarter of fiscal 2020, the Company sold its New Windsor, New York facility. The net proceeds from the sale was $12.3 million resulting in a gain of $4.8 million. Restructuring costs incurred in the first quarter of fiscal 2020 related to the closure of the New Windsor facility, which impacted both the Lighting and Graphics segment. Restructuring costs incurred in the second quarter of fiscal 2020 related to the realignment of the Company’s manufacturing footprint at its Houston, Texas facility, which impacted the Graphics segment. The realignment occurred as the result of the movement of equipment related to the closure of the New Windsor facility along with preparations to receive additional equipment resulting from the relocation of the North Canton, Ohio facility. Total restructuring costs were $276,000 and $509,000 for the three and six months ended December 31, 2019, respectively. The following table presents information about restructuring costs for the periods indicated:
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31 |  |  | December 31 |
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Severance benefits |  | $ | - |  |  | $ | 202 |  |  | $ | - |  |  | $ | 221 |
Impairment of fixed assets and accelerated depreciation |  |  | - |  |  |  | 185 |  |  |  | 49 |  |  |  | 228 |
Facility repairs |  |  | - |  |  |  | 7 |  |  |  | - |  |  |  | 47 |
Gain on sale of facility |  |  | - |  |  |  | - |  |  |  | (4,821 | ) |  |  | - |
Exit costs |  |  | - |  |  |  | 7 |  |  |  | 184 |  |  |  | 60 |
Manufacturing realignment costs |  |  | 276 |  |  |  | - |  |  |  | 276 |  |  |  | - |
Total |  | $ | 276 |  |  | $ | 401 |  |  | $ | (4,312 | ) |  | $ | 556 |
The following table presents a roll forward of the beginning and ending liability balances related to the restructuring costs:
|  | Balance as of |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Balance as of |
|  | June 30, |  |  | Restructuring |  |  |  |  |  |  |  |  |  |  | December 31, |
(In thousands) |  | 2019 |  |  | Expense |  |  | Payments |  |  | Adjustments |  |  | 2019 |
Severance and termination benefits |  | $ | 236 |  |  | $ | - |  |  | $ | (186 | ) |  | $ | - |  |  | $ | 50 |
Other restructuring costs |  |  | - |  |  |  | 460 |  |  |  | (460 | ) |  |  | - |  |  | $ | - |
Total |  | $ | 236 |  |  | $ | 460 |  |  | $ | (646 | ) |  | $ | - |  |  | $ | 50 |

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- References No definition available. + Details
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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