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ACQUISITION (Tables) | 9 Months Ended
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Mar. 28, 2015
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price paid for Ayrshire and the fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
| Estimated Fair Values
| At September 3, 2014
Purchase price paid | $ | 48,010 |
Cash acquired | (46 | )
Purchase price, net of cash received | $ | 47,964 |
Cash | $ | 46 |
Accounts Receivable | 21,211 |
Inventories | 21,772 |
Deferred Tax Asset | 1,308 |
Other Current Assets | 1,013 |
Fixed Assets | 7,823 |
Favorable Leases | 2,941 |
Customer Relationships | 2,833 |
Non-Compete Agreements | 196 |
Goodwill | 8,217 |
Other Assets | 42 |
Accounts Payable | (11,070 | )
Accrued Salaries and Wages | (2,188 | )
Other Current Liabilities | (2,408 | )
Deferred Tax Liability | (3,726 | )
Fair Value of Assets Acquired | $ | 48,010 |
The following table summarizes the fair values of the assets acquired as of the date of acquisition (in thousands):
| Fair Values
| At July 1, 2013
Current Assets | $ | 777 |
Fixed Assets | 1,168 |
Non-Compete Agreements | 372 |
Customer Relationships | 1,970 |
Goodwill | 1,740 |
Fair Value of Assets Acquired | $ | 6,027 |
Business Acquisition, Pro Forma Information | Pro forma condensed consolidated financial information for the three and nine months ended March 28, 2015 and March 29, 2014 (in thousands):
|  | Three Months Ended
|  | (unaudited)
|  | March 28, 2015 |  | March 29, 2014
Net sales |  | $ | 112,915 |  |  | $ | 107,512 |
Net income |  | $ | 1,861 |  |  | $ | 1,738 |
|  | Nine Months Ended
|  | (unaudited)
|  | March 28, 2015 |  | March 29, 2014
Net sales |  | $ | 337,046 |  |  | $ | 326,644 |
Net income |  | $ | 2,582 |  |  | $ | 7,178 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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