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Subsequent Events | 9 Months Ended
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Apr. 01, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On April 7, 2016, our Board of Directors approved certain cost reduction initiatives that will result in annual cost savings between $6.0 million and $7.0 million. These initiatives will allow us to align our operating cost structure with current revenue levels due to the changing dynamics of the telecommunication market. These actions will impact various domestic and international locations and include a reduction in workforce of approximately 87 employees primarily in the services, sales and marketing, and general and administrative functions. We expect to incur total estimated restructuring charges of approximately $4.0 million related to employee severance, benefits and other related charges. We anticipate approximately 50% of the total estimated restructuring charges will be incurred in the fourth quarter of fiscal 2016 and the balance over the following three quarters. These cost reductions are expected to be substantially completed by March 31, 2017. We filed a proxy statement on April 29, 2016 to obtain stockholders’ approval to amend our Amended and Restated Certificate of Incorporation to effect a reverse stock split of our common stock whereby each 12 shares of common stock outstanding would be combined and converted into one share of common stock. The reverse stock split is being proposed to increase the market price of our common stock to satisfy the $1.00 minimum closing bid price required to avoid the delisting of our common stock from The Nasdaq Global Select Market. We expect this action to be completed in June 2016.

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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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