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Discontinued Operations
9 Months Ended
Mar. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
DISCONTINUED OPERATIONS

During the third quarter of fiscal 2012, the Company made the decision to sell the CRM business, which was acquired in October 2011 as part of the acquisition of Daniels. The sale of the CRM business was completed on August 20, 2012, and remains subject to a working capital adjustment. Additionally, during the fourth quarter of fiscal 2012, the Company made the decision to dispose of its sandwich business, including the Daily BreadTM brand name, in the United Kingdom. The disposal of the sandwich business was completed on November 1, 2012. Operating results for the CRM business, which have been included in the Company’s consolidated financial statements for the period subsequent to the October 2011 acquisition, and the sandwich business have been classified as discontinued operations for all periods presented.

Summarized results of our discontinued operations are as follows:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2013
 
2012
 
2013
 
2012
Net sales
$

 
$
24,528

 
$
15,313

 
$
50,766

Operating loss
$

 
$
(942
)
 
$
(1,176
)
 
$
(3,184
)
Loss on sale of business, net of tax
$
(1,114
)
 
$

 
$
(4,200
)
 
$

Loss from discontinued operations, net of tax
$
(1,114
)
 
$
(712
)
 
$
(5,137
)
 
$
(2,704
)


The loss on sale of business recorded in the three months ended March 31, 2013 relates to the revised estimate of final proceeds to be received for the sale of the CRM business.

The major classes of assets and liabilities of the CRM and sandwich businesses as of June 30, 2012 are presented in the following table. All assets and liabilities were classified as current in the Condensed Consolidated Balance Sheet as the sales were expected to occur within the next twelve months at that date.
Accounts receivable and inventory
$
17,710

Other assets
4,089

Property, plant and equipment
6,850

Intangible assets
1,449

Total assets of businesses held for sale
$
30,098

 
 
Accounts payable and accrued expenses
$
12,012

Deferred taxes
1,324

Total liabilities of businesses held for sale
$
13,336