Note 16 - Restructuring

12 Months Ended

Jun. 30, 2014

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):

	Involuntary
	Employee
	Severance and
Year Ended June 30,	Benefit Costs		Other		Total
	2014
2014 Restructuring Initiatives	$	1,528	$	8,477	$	10,005
Prior Year Initiatives		72		-		72
Total expense	$	1,600	$	8,477	$	10,077

	2013
2013 Restructuring Initiatives	$	1,299	$	1,367	$	2,666
Prior Year Initiatives		-		-		-
Total expense	$	1,299	$	1,367	$	2,666

	2012
2012 Restructuring Initiatives	$	901	$	206	$	1,107
Prior Year Initiatives		87		491		578
Total expense	$	988	$	697	$	1,685

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. Restructuring expenses of $10.1 million in the fiscal year 2014 are composed of $9.2 million at Food Service Equipment primarily related to the announced closure of the Cheyenne, Wyoming facility, which includes a non-cash impairment charge of $5.4 million.

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

	Involuntary
	Employee
	Severance
	and Benefit
	Costs			Other			Total
Restructuring Liabilities at June 30, 2013	$	10		$	-		$	10
Additions		1,528			3,051			4,579
Payments		(983	)		(3,051	)		(4,034	)
Restructuring Liabilities at June 30, 2014	$	555		$	-		$	555

Prior Year 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 startup 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 prior year restructuring initiatives is as follows (in thousands):

	Involuntary
	Employee
	Severance
	and Benefit
	Costs			Other		Total
Restructuring Liabilities at June 30, 2012	$	41		$	-	$	41
Additions					-		-
Payments		(41	)		-		(41	)
Restructuring Liabilities at June 30, 2013	$	-		$	-	$	-
Additions		72			-		72
Payments		(72	)		-		(72	)
Restructuring Liabilities at June 30, 2014	$	-		$	-	$	-

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

	Involuntary
	Employee
	Severance
	and Benefit
Year Ended June 30,	Costs		Other		Total
	2014
Food Service Equipment Group	$	746	$	8,408	$	9,154
Engraving Group		667		21		688
Electronics Products Group		187		48		235
Total expense	$	1,600	$	8,477	$	10,077

	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
Total expense	$	1,299	$	1,367	$	2,666

	2012
Food Service Equipment Group	$	279	$	647	$	926
Engraving Group		683		50		733
Corporate		26		-		26
Total expense	$	988	$	697	$	1,685