Note 14 - Severance Costs

12 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

NOTE

14

– SEVERANCE COSTS

The Company recorded severance charges of

$560,000

and

$1,900,000

in fiscal

2019

and

2018,

respectively. This severance expense was related to reductions in staffing

not

related to plant restructuring. See further discussion of restructuring expenses in Note

15.

The activity in the Company’s accrued severance liability was as follows for the

twelve

months ended

June 30, 2019

and

2018:

	Fiscal			Fiscal
	Year Ended			Year Ended
(In thousands)	June 30,			June 30,
	201 9			2018
Balance at beginning of the period	$	1,772		$	235
Accrual of expense		560			1,900
Payments		(1,198	)		(363	)
Adjustments		—			—
Balance at end of the period	$	1,134		$	1,772

Of the total

$1,134,000

severance reserve reported as of

June 30, 2019,

$591,000

has been classified as a current liability and will be paid out over the next

twelve

months. The remaining

$543,000

has been classified as a long-term liability.