RESTATEMENT

12 Months Ended

Jun. 30, 2023

Accounting Changes and Error Corrections [Abstract]

In connection with the preparation of the June 30, 2023 consolidated financial statements, the Company determined that there was an error with respect to the number of reporting segments reported by the Company. The Company has historically reported on the basis of two reporting segments, the North America and the International reporting segments. The Company has reviewed the guidelines and requirements of segment reporting and concluded the Chief Operating Decision Maker "CODM", who is the President and CEO that beginning in the first quarter of fiscal 2022 allocates resources and assesses performance based on three segments rather than the two segments as previously reported. These three reporting segments are as follows: (i) North American Industrials "NAI", (ii) International Industrials "INI", and (iii) Global Test and Measurement "GTM".

Accordingly, the Company restated the Consolidated Financial Statements for the year ended June 30, 2022 as shown in the table below. The segment reporting restatement included in this report does not have any impact on the Consolidated Balance Sheets, Consolidated Statements of Operations, or Consolidated Statements of Cash Flows of the Company, as previously reported.


As Reported - $'000									As Restated - $'000
For the fiscal year ended June 30, 2022					Adjustments				For the fiscal year ended June 30, 2022
	Net Sales		Operating Income (loss)		Net Sales		Operating Income (loss)			Net Sales		Operating Income (loss)
North America	$	141,470	$	13,873	$	(57,284)	$	(9,836)	North American Industrial	$	84,186	$	4,037
International	$	112,231	$	15,435	$	(3,981)	$	128	International Industrial	$	108,250	$	15,563
					$	61,265	$	9,018	Global Test & Measurement	$	61,265	$	9,018
Unallocated	$	—	$	(7,753)	$	—	$	690	Unallocated	$	—	$	(7,063)
Total	$	253,701	$	21,555	$	—	$	—	Total	$	253,701	$	21,555