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Long-term Debt
9 Months Ended
Mar. 29, 2013
Long-term Debt [Abstract]  
Long-term Debt
J.
Long-term Debt

Long-term debt at March 29, 2013 and June 30, 2012 consisted of the following (in thousands):

   
March 29,
  
June 30,
 
   
2013
  
2012
 
        
Revolving loan
 $20,250  $17,550 
10-year unsecured senior notes
  14,286   14,286 
Other
  166   309 
Subtotal
  34,702   32,145 
Less: current maturities and short-term borrowings
  (3,693)  (3,744)
Total long-term debt
 $31,009  $28,401 

The revolving loan and unsecured senior notes listed above are subject to certain covenants, including restrictions on investments, acquisitions and indebtedness.  Financial covenants, as defined, include a minimum consolidated net worth, a minimum EBITDA for the most recent four fiscal quarters, and a maximum total funded debt to EBITDA ratio.  As of March 29, 2013, the Company was in compliance with these covenants.

The fair value of long-term debt is estimated by discounting the future cash flows at rates offered to the Company for similar debt instruments of comparable maturities.  This rate was represented by the US Treasury Three-Year Yield Curve Rate (0.36% and 0.41% for March 29, 2013 and June 30, 2012, respectively), plus the current add-on related to the revolving loan agreement (1.50% for March 29, 2013 and June 30, 2012).   The fair value of the Company's 10-year unsecured senior notes due April 10, 2016 was approximately $15,354,000 and $15,768,000 at March 29, 2013 and June 30, 2012, respectively.  The Company's revolving loan agreement approximates fair value at March 29, 2013 and June 30, 2012.  If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy.