Note 14 - Restructuring Costs

3 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

NOTE

14

– RESTRUCTURING COSTS

In the

first

quarter of fiscal

2020,

the Company sold its New Windsor, New York facility. The net proceeds from the sale was

$12.3

million resulting in a gain of

$4.8

million. The Company also incurred additional restructuring costs totaling

$233,000

related to closure of the New York facility which impacted both the Lighting and Graphics segment.

The following table presents information about restructuring costs for the periods indicated:

	Three			Three
	Months Ended			Months Ended
(In thousands)	September 30,			September 30,
	2019			2018
Severance benefits	$	--		$	19
Moving costs		--			53
Impairment of fixed assets and accelerated depreciation		49			43
Facility repairs		--			40
Gain on sale of facility		(4,821	)		--
Exit Costs		184			--
Total	$	(4,588	)	$	155

The following table presents a roll forward of the beginning and ending liability balances related to the restructuring costs:

(In thousands)
	Balance as of June 30, 2019		Restructuring Expense		Payments			Adjustments		Balance as of September 30, 2019
Severance and termination benefits	$	236	$	--	$	(131	)	$	--	$	105
Other restructuring costs		--		184		(184	)		--		--
Total	$	236	$	184	$	(315	)	$	--	$	105