Restructuring Plan

9 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

On January 27, 2014, the Company announced a restructuring plan that was implemented as part of the final phase of integration activities relating to the Company’s recent acquisitions. The integration plan includes the consolidation of manufacturing facilities, centralization of administrative functions using common information systems and processes and realignment of research and development resources.

During the three months ended March 31, 2014, the Company incurred restructuring charges of $3,502 associated with involuntary separation costs related to a reduction in force which eliminated 61 positions largely in administrative, manufacturing and engineering functions in addition to the Monroe, Connecticut facility closure. Future restructuring expenses associated with the integration plan are expected to be approximately $5,380, which are expected to be completed by January of 2015. These restructuring expenses affect both the MCE and MDIS reportable segments.

The following table presents the detail of activity for the Company’s restructuring plans:



	Severance & Related			Facilities & Other			Total
Restructuring liability at June 30, 2013	$	434		$	286		$	720
MCE restructuring charges	3,478			165			3,643
MDIS restructuring charges	26			—			26
Cash paid	(1,638		)	(360		)	(1,998		)
Reversals(*)	(25		)	(60		)	(85		)
Restructuring liability at March 31, 2014	$	2,275		$	31		$	2,306

( *) Reversals result from the finalization of settlements owed.

All of the restructuring charges are classified as operating expenses in the consolidated statements of operations and comprehensive (loss) income and any remaining obligations are expected to be paid within the next twelve months. The remaining restructuring liability is classified as accrued expenses in the consolidated balance sheets.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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