Note 16 - Restructuring

9 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

16) Restructuring

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

	Three Months Ended						Nine Months Ended
	March 31, 2014						March 31, 2014
	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
2014 Restructuring initiatives	$	637	$	744	$	1,381	$	1,172	$	4,587	$	5,759
Prior year initiatives		-		-		-		72		-		72
	$	637	$	744	$	1,381	$	1,244	$	4,587	$	5,831

	Three Months Ended						Nine Months Ended
	March 31, 2013						March 31, 2013
	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Prior year initiatives	$	404	$	671	$	1,075	$	1,004	$	1,291	$	2,295

2014 Restructuring Initiatives

On August 23, 2013 the Company announced a consolidation of its Cheyenne, Wyoming plant into its Mexico facility and other cooking solutions operations in North America. The Company expects to record a pre-tax restructuring charge related to the Food Service Equipment segment during fiscal 2014 in the range of $7.5 to $8.0 million, which includes a non-cash charge of $3.3 million related to the impairment of long-lived assets recorded during the first quarter of fiscal year 2014.

Activity in the reserves related to fiscal year 2014 restructuring initiatives is as follows (in thousands):

	Involuntary Employee Severance and Benefit Costs			Other			Total
Restructuring liabilities at June 30, 2013	$	-		$	-		$	-
Additions and adjustments		1,172			1,245			2,417
Payments		(759	)		(1,245	)		(2,004	)
Restructuring liabilities at March 31, 2014	$	413		$	-		$	413

Prior Year Initiatives

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

	Involuntary Employee Severance and Benefit Costs			Other		Total
Restructuring liabilities at June 30, 2013	$	10		$	-	$	10
Additions and adjustments		72			-		72
Payments		(82	)		-		(82	)
Restructuring liabilities at March 31, 2014	$	-		$	-	$	-

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

	Three Months Ended						Nine Months Ended
	March 31, 2014						March 31, 2014
	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Food Service Equipment Group	$	178	$	722	$	900	$	452		4,518	$	4,970
Engraving Technologies Group		460	$	21		481		606		20		626
Electronics Products Group		-	$	-		-		187		48		235
	$	638	$	743	$	1,381	$	1,245	$	4,586	$	5,831

	Three Months Ended						Nine Months Ended
	March 31, 2013						March 31, 2013
	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Food Service Equipment Group	$	52	$	2	$	54	$	180	$	24	$	204
Engineering Technologies Group		44	$	-		44		44		-		44
Engraving Technologies Group		181	$	649		830		653		1,235		1,888
Electronics Products Group		127	$	20		147		127		32		159
	$	404	$	671	$	1,075	$	1,004	$	1,291	$	2,295