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Note 7 - Other Current Assets

12 Months Ended

Jun. 29, 2014

Disclosure Text Block Supplement [Abstract]

7. Other Current Assets

Other current assets consist of the following:

	June 29, 2014		June 30, 2013
Vendor deposits	$	2,369	$	2,633
Value added taxes receivable		1,197		1,729
Prepaid expenses		1,876		1,376
Other investments		234		166
Other		376		9
Total other current assets	$	6,052	$	5,913

Vendor deposits primarily relate to down payments made toward the purchase of raw materials by the Company’s U.S., Brazilian and Chinese operations. Value added taxes receivable are recoverable taxes associated with the sales and purchase activities of the Company’s foreign operations. Prepaid expenses consist of advance payments for insurance, professional fees, membership dues, subscriptions, non-income related tax payments, marketing and information technology services.

Other investments relate to cash held by the Company’s Colombian subsidiary within an investment fund of a financial institution located in Colombia that is currently being liquidated. Since December 2012, the fund administrator, in accordance with Colombian regulations, has issued five notifications of reductions in the portfolio value resulting in the Company recording impairment charges of $386 in other operating expense, net. To date, the Company has received payments in accordance with the court mandated schedule of $1,141 plus interest. The carrying value of $234 at June 29, 2014 is expected to be received within the next twelve months.

As of June 29, 2014, other consists primarily of premiums on a split dollar life insurance policy that represents the value of the Company’s right of return on premiums paid for a retiree-owned insurance contract that matures in 2015.