Note 17 - Quarterly Financial Data (unaudited)

12 Months Ended

Jun. 30, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

17. QUARTERLY FINANCIAL DATA (unaudited)

(in thousands except per share data)

Quarter Ended	Net Sales		Gross Margin		Earnings (Loss) Before Income Taxes			Net Earnings / (Loss)			Basic and Diluted Earnings / (Loss) Per Share
September 2011	$	63,384	$	21,590	$	3,751		$	2,249		$	0.33
December 2011		62,219		22,107		3,234			1,715			0.25
March 2012		64,540		21,455		2,231			1,570			0.23
June 2012		70,005		12,923		(9,105	)		(4,646	)		(0.69	)
	$	260,148	$	78,075	$	111		$	888		$	0.13
September 2012	$	56,937	$	17,689	$	(738	)	$	(351	)	$	(0.05	)
December 2012		59,829		18,753		1,121			476			0.07
March 2013		59,864		15,939		(1,236	)		(1,485	)		(0.22	)
June 2013		67,167		19,431		1,649			1,198			0.18
	$	243,797	$	71,812	$	796		$	(162	)	$	(0.02	)

The “mark to market” method of pension accounting which the Company elected in fiscal 2011, specifies the pension liability must be valued on the last day of the fiscal year and the resulting pension expense adjustment is recorded in the fourth quarter. The actuarial assumption at the beginning of fiscal 2012 was that the discount rate would be 5.44%. The actual discount rate as of June 30, 2012 was 3.92%. The change resulted in an adjustment to fourth quarter expense in fiscal 2012 of $15.2 million, including $12.0 million which reduced the gross margin for this period.

In the fourth quarter of fiscal 2013 the Company was awarded damages in a Brazilian lawsuit which it had filed as plaintiff in 2003, recognizing other income of $0.5 million. In addition, the Company recognized $0.8 million of additional compensation related to the Board of Directors approval of a contribution to the 2013 ESOP.