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Subsequent Events | 12 Months Ended
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Jun. 30, 2015
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On July 1, 2015, the Company entered into a five year floating to fixed interest rate swap with a certain counterparty to the Amended and Restated Credit Agreement. The swap has an effective start date of July 1, 2015 and is based on an one month LIBOR rate versus a 1.52% fixed rate on a notional value of $39,250, which under terms of the Amended and Restated Credit Agreement is equal to 50% of the outstanding balance of the term loan at the time of the swap arrangement. Under ASC Topic 815, “Derivatives and Hedging,” all derivative instruments are recorded on the consolidated balance sheets at fair value as either short term or long term assets or liabilities based on their anticipated settlement date. Changes in the derivatives’ fair values are recognized currently in earnings unless specific hedge accounting criteria are met. The Company has elected not to designate its interest rate swap as a hedge; therefore, changes in the fair value of the derivative instrument would be recognized in earnings in the Company's consolidated statements of operations and comprehensive income (loss).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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