Note 5 - Receivables, net

6 Months Ended

Dec. 23, 2012

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. Receivables, net

Receivables, net consist of the following:

	December 23, 2012			June 24, 2012
Customer receivables	$	90,002		$	100,818
Allowance for uncollectible accounts		(1,282	)		(1,118	)
Reserves for yarn quality claims		(919	)		(939	)
Net customer receivables		87,801			98,761
Related party receivables		47			111
Other receivables		770			364
Total receivables, net	$	88,618		$	99,236

Other receivables consist primarily of receivables for duty drawback, interest, value added tax and refunds from vendors.

The changes in the Company’s allowance for uncollectible accounts and reserves for yarn quality claims were as follows:

	Allowance for Uncollectible Accounts			Reserves for Yarn Quality Claims
Balance at June 24, 2012	$	(1,118	)	$	(939	)
Charged to costs and expenses		(183	)		(569	)
Charged to other accounts		4			—
Deductions		15			589
Balance at December 23, 2012	$	(1,282	)	$	(919	)

Amounts charged to costs and expenses for the allowance for uncollectible accounts are reflected in the Provision for bad debts. For the allowance for uncollectible accounts, deductions represent amounts written off which were deemed to not be collectible, net of any recoveries. Amounts charged to costs and expenses for the reserves for yarn quality claims are primarily reflected as a reduction of Net sales. For the reserve for yarn quality claims, deductions represent adjustments to either increase or decrease claims based on negotiated amounts or actual versus estimated claim differences. Amounts charged to other accounts primarily include the impact of translating the activity of the Company’s foreign affiliates from their respective local currencies to the U.S. dollar.