Note 17 - Restructuring

6 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

17)      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						Six Months Ended
	December 31, 2014						December 31, 2014
Fiscal 2015	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Restructuring initiatives	$	299	$	795	$	1,094	$	333	$	798	$	1,131
Prior year initiatives		-		-		-		125		700		825
	$	299	$	795	$	1,094	$	458	$	1,498	$	1,956

	Three Months Ended						Six Months Ended
	December 31, 2013						December 31, 2013
Fiscal 2014	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Restructuring initiatives	$	184	$	460	$	644	$	535	$	3,843	$	4,378
Prior year initiatives		-		-		-		72		-		72
	$	184	$	460	$	644	$	607	$	3,843	$	4,450

2015 Restructuring Initiatives

The Company continues to focus on our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions and facility closures. During the quarter, the Company announced the closure of our Food Service Equipment U.K. office and entered into a distribution agreement with a U.K. based partner to; reduce channel costs and enhance profitability, expand and strengthen, our U.K. Food Service Equipment group’s presence for all of our brands. We incurred severance and non-cash lease impairment costs of $0.6 million associated with these activities during the quarter. Restructuring expense related to the 2015 initiatives is expected to be $3.8 million, of which $1.1 million was incurred for the period ending December 31, 2014.

Activity in the reserves related to fiscal year 2015 restructuring initiatives is as follows (in thousands):

	Involuntary Employee Severance and Benefit Costs			Other			Total
Restructuring liabilities at June 30, 2014	$	-		$	-		$	-
Additions and adjustments		342			1,442			1,784
Payments		(342	)		(1,028	)		(1,370	)
Restructuring liabilities at December 31, 2014	$	-		$	414		$	414

Prior Year Initiatives

The Company previously announced a consolidation of our Food Service Equipment Group Cheyenne, Wyoming plant into its Mexico facility. During the first quarter of fiscal year 2014 we record a non-cash expense of $3.3 million related to the impairment of long-lived assets in Cheyenne. During fiscal year 2015, restructuring expenses related to this initiative are expected to be $0.8 million, of which $0.8 million was recorded during the six months of fiscal year 2015. The cumulative expense related to this initiative is expected to be $10.8 million.

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, 2014	$	555		$	-	$	555
Additions and adjustments		24			-		24
Payments		(512	)		-		(512	)
Restructuring liabilities at December 31, 2014	$	67		$	-	$	67

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

	Three Months Ended						Six Months Ended
	December 31, 2014						December 31, 2014
	Involuntary Employee Severance and Benefit Costs		Other		Total		Involuntary Employee Severance and Benefit Costs		Other		Total
Food Service Equipment Group	$	53	$	736	$	789	$	167	$	1,297	$	1,464
Engraving Group		27		-		27		61		3		64
Electronics Products Group		219		59		278		230		198		428
	$	299	$	795	$	1,094	$	458	$	1,498	$	1,956

	Three Months Ended									Six Months Ended
	September 30, 2013									September 30, 2013
	Involuntary Employee Severance and Benefit Costs			Other			Total			Involuntary Employee Severance and Benefit Costs		Other			Total
Food Service Equipment Group	$	256		$	468		$	724		$	274	$	3,796		$	4,070
Engraving Group		(99	)		(8	)		(107	)		146		(1	)		145
Electronics Products Group		27			-			27			187		48			235
	$	184		$	460		$	644		$	607	$	3,843		$	4,450