Note 15 - Severance Costs

12 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

NOTE 15 – SEVERANCE COSTS

The Company recorded severance charges of less than $0.1 million and $0.3 million in fiscal 2021 and 2020, respectively. This severance expense was related to reductions in staffing not related to plant restructuring. See further discussion of restructuring expenses in Note 16.

The activity in the Company’s accrued severance liability was as follows for the twelve months ended June 30, 2021 and 2020:

	June 30,			June 30,
(In thousands)	2021			2020
Balance at beginning of period	$	639		$	1,134
Accrual of expense		41			344
Payments		(667	)		(839	)
Balance at end of period	$	13		$	639

The severance reserve reported as of June 30, 2021 has been classified as a current liability and will be paid out over the next twelve months.