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Note 26 - Related Party Transactions | 9 Months Ended
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Mar. 24, 2013
Related Party Transactions Disclosure [Text Block] | 26. Related Party Transactions On March 22, 2013, the Company entered into a Stock Purchase Agreement with Dillon. Pursuant to the Stock Purchase Agreement, the Company repurchased 500 shares of the Company’s common stock from Dillon for an aggregate amount of $8,500. The Company and Dillon negotiated the $17.00 per share price based on approximately a 10% discount to the closing price of the stock on March 20, 2013. Mr. Mitchel Weinberger, a member of the Company’s Board, is Dillon’s president and chief operating officer. The Company’s Board approved this transaction in accordance with its related person transactions approval policy. Mr. Weinberger was not involved in any decisions by the Company’s Board, or any committee thereof, with respect to this stock repurchase transaction. During the third quarter of fiscal year 2013, the Company repurchased 71 shares of its common stock through open market transactions. Invemed Associates LLC provided brokerage services to the Company for the repurchase of these shares. The Company paid a commission of $.02 per share to Invemed Associates LLC. Mr. Kenneth Langone, a member of the Company’s Board, is the founder and chairman of Invemed Associates LLC. On November 19, 2012, the Company entered into a capital lease with Salem Leasing Corporation for certain transportation equipment. The amount due under the fifteen year term of the lease is $1,234 and payments are made monthly. The implicit annual interest rate under the lease is approximately 4.6%. Mr. Langone is a director, stockholder and Chairman of the Board of Salem Leasing Corporation. On August 30, 2012, a foreign subsidiary of the Company entered into an unsecured loan agreement with its unconsolidated affiliate U.N.F. Industries Ltd. (“UNF”) and borrowed $1,250. The loan bears interest at 3% with interest payable semi-annually. The loan does not amortize and has a maturity date of August 30, 2014 at which time the entire principal balance is due. For a further discussion of the nature of certain related party relationships see “Footnote 27. Related Party Transactions” included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 24, 2012. Related party receivables and payables consist of the following:
|  | March 24, 2013 |  |  | June 24, 2012 |
Dillon Yarn Corporation |  | $ | 2 |  |  | $ | 7 |
Cupron, Inc. |  |  | 8 |  |  |  | — |
American Drawtech Company, Inc. |  |  | 167 |  |  |  | 104 |
Total related party receivables (included within receivables, net) |  | $ | 177 |  |  | $ | 111 |
Dillon Yarn Corporation |  | $ | 163 |  |  | $ | 206 |
American Drawtech Company, Inc. |  |  | — |  |  |  | 20 |
Cupron, Inc. |  |  | 255 |  |  |  | — |
Salem Leasing Corporation |  |  | 260 |  |  |  | 270 |
Total related party payables (included within accounts payable) |  | $ | 678 |  |  | $ | 496 |
Related party transactions consist of the following:
|  |  | For the Three Months Ended |
Affiliated Entity | Transaction Type |  | March 24, 2013 |  |  | March 25, 2012 |
Dillon Yarn Corporation | Sales and Service Agreement |  | $ | 79 |  |  | $ | 131 |
Dillon Yarn Corporation | Sales |  |  | 1 |  |  |  | 15 |
Dillon Yarn Corporation | Yarn Purchases |  |  | 694 |  |  |  | 462 |
American Drawtech Company, Inc. | Sales |  |  | 449 |  |  |  | 391 |
American Drawtech Company, Inc. | Yarn Purchases |  |  | 19 |  |  |  | 63 |
Salem Leasing Corporation | Transportation Equipment Costs |  |  | 765 |  |  |  | 756 |
Cupron, Inc. | Sales |  |  | 91 |  |  |  | 6 |
|  |  | For the Nine Months Ended |
Affiliated Entity | Transaction Type |  | March 24, 2013 |  |  | March 25, 2012 |
Dillon Yarn Corporation | Sales and Service Agreement |  | $ | 346 |  |  | $ | 700 |
Dillon Yarn Corporation | Sales |  |  | 7 |  |  |  | 118 |
Dillon Yarn Corporation | Yarn Purchases |  |  | 1,963 |  |  |  | 1,711 |
American Drawtech Company, Inc. | Sales |  |  | 683 |  |  |  | 2,436 |
American Drawtech Company, Inc. | Yarn Purchases |  |  | 56 |  |  |  | 105 |
Salem Leasing Corporation | Transportation Equipment Costs |  |  | 2,295 |  |  |  | 2,287 |
Cupron, Inc. | Sales |  |  | 106 |  |  |  | 102 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 1-4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 + Details
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