Note 3 - Discontinued Operations

9 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3)     Discontinued Operations

In pursuing our business strategy we have divested certain businesses and recorded activities of these businesses as discontinued operations. In December 2011, the Company entered into a plan to divest its Air Distribution Products (“ADP”) business unit in order to allow the Company to focus its financial assets and managerial resources on its remaining portfolio of businesses. On March 30, 2012, the Company completed the sale of the ADP business. During the first quarter of fiscal year 2014, the Company received notice that its obligations under a guarantee provided to the buyers of ADP were triggered as a result of its withdrawal from a multi-employer pension plan in which the Company previously participated.  As a result, the Company recorded a charge of $1.2 million in excess of the value of the guarantee already recorded. The Company settled this obligation during the second quarter of 2014. 

Assets and liabilities related to discontinued operations appear in the condensed consolidated balance sheets are as follows (in thousands):

	March 31, 2014		June 30, 2013
Current assets	$	166	$	483
Other non-current assets		3,014		3,000
Accrued expenses		1,136		795
Accrued pension and other non-current liabilities		1,437		3,219