Note 23 - Related Party Transactions

9 Months Ended

Mar. 30, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

23. Related Party Transactions

Related party receivables consist of the following:

	March 30, 2014		June 30, 2013
Cupron, Inc.	$	17	$	6
Dillon Yarn Corporation		—		198
Total related party receivables (included within receivables, net)	$	17	$	204

Related party payables consist of the following:

	March 30, 2014		June 30, 2013
Dillon Yarn Corporation	$	201	$	135
Salem Leasing Corporation		317		267
Cupron, Inc.		571		218
American Drawtech Company, Inc.		—		17
Total related party payables (included within accounts payable)	$	1,089	$	637

Related party transactions consist of the following:

		For the Three Months Ended
Affiliated Entity	Transaction Type	March 30, 2014		March 24, 2013
Dillon Yarn Corporation	Yarn purchases	$	955	$	694
Dillon Yarn Corporation	Sales service agreement costs		—		79
Dillon Yarn Corporation	Sales		—		1
Salem Leasing Corporation	Transportation equipment costs		854		765
American Drawtech Company, Inc.	Sales		—		449
American Drawtech Company, Inc.	Yarn purchases		—		19
Cupron, Inc.	Sales		254		91
Cupron, Inc.	Yarn purchases		-		-

		For the Nine Months Ended
Affiliated Entity	Transaction Type	March 30, 2014		March 24, 2013
Dillon Yarn Corporation	Yarn purchases	$	2,407	$	1,963
Dillon Yarn Corporation	Sales service agreement costs		—		346
Dillon Yarn Corporation	Sales		1,235		7
Salem Leasing Corporation	Transportation equipment costs		2,680		2,295
American Drawtech Company, Inc.	Sales		—		683
American Drawtech Company, Inc.	Yarn purchases		—		56
Cupron, Inc.	Sales		411		106
Cupron, Inc.	Yarn purchases		8		—

Pursuant to the 2013 SRP, the Company has repurchased 1,466 shares of its common stock through open market purchases, of which 898 shares were repurchased during the first nine months of fiscal year 2014. 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.

On November 1, 2013, the Company purchased 150 shares of the Company’s common stock from Dillon, at a negotiated price of $23.00 per share, for $3,450. The purchase price was equal to an approximately 6% discount to the closing price of the common stock on October 31, 2013. Mr. Mitchel Weinberger, a member of the Company’s Board, is Dillon’s president and chief operating officer.

On December 3, 2013, certain of the Company’s executive officers exercised options to purchase shares of the Company’s common stock under previously granted option awards.  Pursuant to authorization from the Company’s Board, and as part of the 2013 SRP, the Company repurchased 225 shares of common stock issued in those option exercises at a negotiated price of $25.59 per share (which was equal to the average of the closing trade prices of the Company’s common stock for the 30 days ending December 2, 2013 and represents a 7.1% discount to the $27.56 closing price of the common stock on December 2, 2013).              

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.