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Restructuring
3 Months Ended
Sep. 30, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
In June 2020, the Company recorded a $1.6 million restructuring charge of which $1.0 million remained in the accrual at fiscal 2020 year end. In the three months ending September 30, 2020, $0.3 million of restructuring cost were charged as a period expense and $0.3 million was charge against the accrual. The remaining balance of the accrual at September 30, 2020 was $0.7 million, plus the Company expects to charge an addition $2.0 million in the period those cost are incurred in fiscal year 2021.
The Company decided in January 2018 to vacate its facility in Mt. Airy, North Carolina, and move current operations to a smaller company owned building. The Company is also considering selling the facility with a lease back provision to accommodate remaining operations. While there are no definitive plans set yet, the Company still anticipates that the sale could happen within the current fiscal year, yet based on past experience, the immediate sale is not probable.
As of September 30, 2020, the carrying value of the building is $2.0 million, and based on comparable sales data sourced from the Company’s real estate agent, the Company believes that the current fair value of the building exceeds its carrying value.