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Note I - Commitments
12 Months Ended
Jun. 30, 2014
Disclosure Text Block Supplement [Abstract]  
Commitments Disclosure [Text Block]

I. Commitments


We lease a total of 162,000 square feet at our manufacturing facility in Vista, California from an unaffiliated third party under a non-cancelable operating lease. On July 31, 2013, we executed a third amendment to the lease for our manufacturing facility in Vista, CA. As a result of this amendment, our facility lease has been extended for an additional 10 year term through March 2024.


NAIE leases facility space in Manno, Switzerland. The leased space totals approximately 87,763 square feet. We primarily use the facilities for manufacturing, packaging, warehousing and distributing nutritional supplement products for the European marketplace. Effective July 1, 2014, NAIE entered into a new lease with its current landlord. The new lease replaced, extended, and enlarged an existing lease between the same parties for the same building in Manno Switzerland. NAIE intends to improve portions of the additional space acquired by the new lease, and will continue to use the entire leased premises for offices, laboratory, warehouse and production. The new lease has a term of five years with a right for NAIE to extend the lease for an additional five years. The initial five year term expires on June 30, 2019.


Minimum rental commitments (exclusive of property tax, insurance and maintenance) under all non-cancelable operating leases with initial or remaining lease terms in excess of one year, including the lease agreements referred to above, are set forth below as of June 30, 2014 (in thousands):


   

2015

   

2016

   

2017

   

2018

   

2019

   

There-
after

   

Total

 

Gross minimum rental commitments

  $ 3,017     $ 2,935     $ 2,854     $ 2,886     $ 2,920     $ 6,937     $ 21,549  

Rental expense totaled $2.3 million for the fiscal year ended June 30, 2014 and $2.2 million for fiscal 2013.