Note 16 - Restructuring

12 Months Ended

Jun. 30, 2013

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

16. restructuring

The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. A summary of charges by initiative is as follows (in thousands):

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
	2013
2013 Restructuring Initiatives	$	1,299	$	1,367	$	2,666
Prior Year Initiatives		-		-		-
Total expense	$	1,299	$	1,367	$	2,666

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
		2012
2012 Restructuring Initiatives	$	901	$	206	$	1,107
Prior Year Initiatives		87		491		578
Total expense	$	988	$	697	$	1,685

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
	2011
2011 Restructuring Initiatives	$	-	$	286	$	286
Prior Year Initiatives		315		1,242		1,557
Total expense	$	315	$	1,528	$	1,843

2013 Restructuring Initiatives

During the first half of 2013, the Company began a new headcount reduction program in its European Engraving Group operations as part of the realignment of the Group’s global footprint. Restructuring cost of $0.6 million related to this activity was substantially completed for the year ended June 30, 2013. During the third quarter, the Company completed the move and start up of the Sao Paolo, Brazil, Engraving Group facility to a location more suited to the Group’s operational needs. Restructuring expenses for the year ended June 30, 2013 related to these activities were $1.5 million. Also during the year as redundant positions due to the Meder acquisition are being eliminated the Company incurred $0.4 million of restructuring costs in China, which was substantially completed for the year ended June 30, 2013.

Activity in the reserves related to 2013 restructuring initiatives is as follows (in thousands):

	Involuntary Employee Severance and Benefit Costs			Other			Total
Restructuring Liabilities at June 30, 2012	$	-		$	-		$	-
Additions		1,299			1,367			2,666
Payments		(1,289	)		(1,367	)		(2,656	)
Restructuring Liabilities at June 30, 2013	$	10		$	-		$	10

Prior Year Initiatives

During the fourth quarter of 2011, the Company began the integration of the newly-acquired Tri-Star manufacturing operations into existing production capabilities in Nogales, Mexico. Production was transferred during the first quarter of 2012, and restructuring charges of $0.6 million were incurred during the year ended June 30, 2012.

During the first quarter of 2012, the Company transferred production of the Kool Star product line from Nogales, Mexico, to New Albany, Mississippi, where it is being integrated into the Master-Bilt manufacturing operations. Restructuring costs of $0.3 million were incurred in carrying out this initiative, which was substantially completed during the year. Additionally, the Company continued to reduce headcount across several divisions as part of our ongoing commitment to achieving operational efficiency. Restructuring costs of $0.8 million were incurred as part of this initiative during the year ended June 30, 2012.

Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):

	Involuntary Employee Severance and Benefit Costs			Other			Total
Restructuring Liabilities at June 30, 2011	$	10		$	-		$	10
Additions		988			627			1,615
Payments		(957	)		(627	)		(1,584	)
Restructuring Liabilities at June 30, 2012	$	41		$	-		$	41
Additions					-			-
Payments		(41	)		-			(41	)
Restructuring Liabilities at June 30, 2013	$	-		$	-		$	-

The Company’s total restructuring expenses by segment are as follows (in thousands):

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
	2013
Food Service Equipment Group	$	183	$	25	$	208
Engineering Technologies Group		44		-		44
Engraving Group		776		1,253		2,029
Electronics Products Group		296		89		385
Corporate		-		-		-
Total expense	$	1,299	$	1,367	$	2,666

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
	2012
Food Service Equipment Group	$	279	$	647	$	926
Engraving Group		683		50		733
Corporate		26		-		26
Total expense	$	988	$	697	$	1,685

Year Ended June 30,	Involuntary Employee Severance and Benefit Costs		Other		Total
	2011
Food Service Equipment Group	$	70	$	1,528	$	1,598
Engraving Group		157		-		157
Corporate		88		-		88
Total expense	$	315	$	1,528	$	1,843