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Note 22 - Related Party Transactions

3 Months Ended

Sep. 29, 2013

22. Related Party Transactions

During the first quarter of fiscal year 2014, the Company repurchased 249 shares of its common stock through open market transactions. Invemed Associates LLC (“Invemed”) provided brokerage services to the Company for the repurchase of these shares. The Company paid a commission of $.02 per share to Invemed. Mr. Kenneth G. Langone, a member of the Company’s Board, is the founder and chairman of Invemed.

For a further discussion of the nature of certain related party relationships see “Note 26. Related Party Transactions” included in the 2013 Form 10-K.

Related party receivables consist of the following:

	September 29, 2013		June 30, 2013
Dillon Yarn Corporation	$	497	$	198
Cupron, Inc.		1		6
Total related party receivables (included within Receivables, net)	$	498	$	204

Related party payables consist of the following:

	September 29, 2013		June 30, 2013
Salem Leasing Corporation	$	276	$	267
Cupron, Inc.		201		218
Dillon Yarn Corporation		198		135
American Drawtech Company, Inc.		—		17
Total related party payables (included within Accounts payable)	$	675	$	637

Related party transactions consist of the following:

		For the Three Months Ended
Affiliated Entity	Transaction Type	September 29, 2013		September 23, 2012
Dillon Yarn Corporation	Yarn purchases	$	887	$	764
Dillon Yarn Corporation	Sales service agreement costs		—		126
Dillon Yarn Corporation	Sales		855		4

Salem Leasing Corporation	Transportation equipment costs		915		786

American Drawtech Company, Inc.	Sales		—		97
American Drawtech Company, Inc.	Yarn purchases		—		43

Cupron, Inc.	Sales		26		2

- 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.

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