Note 7 - Other Current Assets

9 Months Ended

Mar. 30, 2014

Disclosure Text Block Supplement [Abstract]

Other Current Assets [Text Block]

7. Other Current Assets

Other current assets consist of the following:

	March 30, 2014		June 30, 2013
Vendor deposits	$	2,147	$	2,633
Value added taxes receivable		1,106		1,729
Prepaid expenses		1,345		1,376
Other investments		237		166
Other		419		9
Total other current assets	$	5,254	$	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 purchasing 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 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. The Company was notified of this liquidation in December 2012 and the Company no longer has immediate access to these funds. The Company has recorded a total of $373 in impairment charges in other operating expense, net since the Company received notification of the liquidation of this investment, of which $155 was recorded during the quarter ended March 30, 2014 and $218 was recorded in fiscal year 2013.

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.