Note Q - Restructuring of Operations

12 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

Q. RESTRUCTURING OF OPERATIONS

Restructuring expenses

The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth quarter of fiscal 2015. These programs primarily involved the reduction of workforce in several of the Company’s manufacturing locations, under a combination of voluntary and involuntary programs. During the fourth quarter of fiscal 2021, the Company undertook a series of steps to accelerate its focus on its core competencies, improve its fixed cost structure, and monetize some of its under-utilized assets.

The Company continued its restructuring plans with regard to its Belgian operations during fiscal year 2025 and 2024. A voluntary program was implemented to reduce the workforce. The action was taken to allow the Belgian operation to focus resources on core manufacturing processes, while allowing for savings on the outsourcing of non-core processes.

Total restructuring charges relating to streamlining operations totaled $369 and $300 in fiscal year June 30, 2025 and June 30, 2024, respectively.

The following is a roll-forward of restructuring activity:

Accrued restructuring liability, June 30, 2024	$	-
Additions		408
Payments, adjustments and write-offs during the year		(369	)
Accrued restructuring liability, June 30, 2025	$	39