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Related Party Transactions
 12 Months Ended
Jun. 28, 2015
Related Party Transaction, Due from (to) Related Party [Abstract]  
Related Party Transactions
Related Party Transactions
On August 17, 2011, in connection with the Company’s acquisition of Ruud Lighting, two of the prior shareholders of Ruud Lighting, Alan Ruud and Christopher Ruud, executed offer letters for continued employment with Ruud Lighting. Also on August 17, 2011, subsequent to the Company’s acquisition of Ruud Lighting and pursuant to an Aircraft Purchase and Sale Agreement and a Joint Ownership Agreement with Ruud Lighting, each of Alan Ruud (through LSA, LLC, a limited liability company of which Alan Ruud is the sole member (LSA)) and Christopher Ruud (through Light Speed Aviation, LLC, a limited liability company of which Christopher Ruud is the sole member (Light Speed)) acquired a 10% interest in an aircraft previously purchased by Ruud Lighting, resulting in the Company owning an 80% interest in the aircraft. Each of LSA and Light Speed acquired its ownership in the aircraft for a purchase price of approximately $0.9 million for a combined interest of 20% or $1.9 million which is included in Purchase of acquired business, net of cash acquired in the Consolidated Statements of Cash Flows as cash provided by investing activities. On June 25, 2014, the Company acquired the combined 20% interest in the aircraft from LSA and Light Speed for $1.5 million, resulting in the Company having 100% ownership of the aircraft.
Pursuant to the Joint Ownership Agreement, each of LSA and Light Speed was responsible for its share of flight crew, direct, fixed and other expenses attributable to the aircraft. During fiscal 2014, the Company billed LSA and Light Speed $234 thousand and $697 thousand, respectively. Of these billed amounts, the Company had been reimbursed by LSA and Light Speed for $225 thousand and $630 thousand, respectively, as of June 29, 2014. The Company had $9 thousand outstanding receivables from LSA and $86 thousand in outstanding receivables from Light Speed as of June 29, 2014. The Company also had unbilled receivables of $6 thousand and $46 thousand for LSA and Light Speed, respectively, as of June 29, 2014. As of June 28, 2015, the Company had no outstanding receivables from LSA or Light Speed.
In July 2010, Mark Swoboda was appointed Chief Executive Officer of Intematix Corporation (Intematix). Mark Swoboda is the brother of the Company’s Chairman, Chief Executive Officer and President, Charles M. Swoboda. For a number of years the Company has purchased raw materials from Intematix pursuant to standard purchase orders in the ordinary course of business.
During fiscal 2015, the Company purchased $7.2 million of raw materials from Intematix, and the Company had $0.1 million outstanding payable to Intematix as of June 28, 2015. During fiscal 2014, the Company purchased $8.8 million of raw materials from Intematix, and the Company had $0.3 million outstanding payable to Intematix as of June 29, 2014.
As discussed in Note 4, “Investments,” the Company acquired approximately 13% of the common stock of Lextar Electronics Corporation in December 2014. From the date of acquisition through June 28, 2015, the Company purchased approximately $5.9 million of inventory from Lextar and the Company had $2.5 million outstanding payable to Lextar as of June 28, 2015.