Note 5 - Receivables, net

12 Months Ended

Jun. 24, 2012

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

5. Receivables, net

Receivables, net consist of the following:

	June 24, 2012			June 26, 2011
Customer receivables	$	100,818		$	100,893
Allowance for uncollectible accounts		(1,118	)		(1,147	)
Reserves for yarn quality claims		(939	)		(1,101	)
Net customer receivables		98,761			98,645
Related party receivables		111			512
Other receivables		364			658
Total receivables, net	$	99,236		$	99,815

Other receivables consist primarily of receivables for duty drawback, interest and vendor refunds due to the Company.

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 28, 2009	$	(3,589	)	$	(1,213	)
Charged to costs and expenses		(123	)		(2,038	)
Charged to other accounts		46			321
Deductions		1,791			1,268
Balance at June 27, 2010	$	(1,875	)	$	(1,662	)
Charged to costs and expenses		304			(1,156	)
Charged to other accounts		46			401
Deductions		378			1,316
Balance at June 26, 2011	$	(1,147	)	$	(1,101	)
Charged to costs and expenses		(211	)		(1,390	)
Charged to other accounts		117			23
Deductions		123			1,529
Balance at June 24, 2012	$	(1,118	)	$	(939	)

Amounts charged to costs and expenses for the allowance for uncollectible accounts are reflected in the Provision (benefit) 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.