Restructuring

9 Months Ended

Mar. 31, 2024

5. RESTRUCTURING

On February 5, 2024, the Company announced its plan to close its Dublin, Georgia manufacturing facility. The closure is expected to be complete by the end of fourth quarter fiscal year 2024.

As a result of the planned closure, the Company anticipated incurring pre-tax restructuring and related expenses between $3.0 million and $3.1 million. Total cumulative restructuring and related costs incurred as of March 31, 2024, was $2.6 million.

The following is a summary of restructuring costs:


	Three Months Ended				Nine Months Ended
(in thousands)	March 31, 2024		March 31, 2023		March 31, 2024		March 31, 2023
One-time employee termination benefits	$	2,409	$	—	$	2,409	$	—
Other associated costs		218		—		218		—
Total restructuring and related expenses	$	2,627	$	—	$	2,627	$	—
Reported as:
Operating expenses	$	2,627	$	—	$	2,627	$	—

One-time employee termination benefits include costs for employee separation benefits. Other associated costs primarily includes inventory and equipment transfer costs and other transition costs.

The rollforward of the accrued restructuring costs is as follows:


	One-time
	Employee			Other
	Termination			Associated
(in thousands)	Benefits			Costs			Total
Accrual balance on June 30, 2023	$	—		$	—		$	—
Costs incurred		2,409			218			2,627
Expenses (paid)		(694	)		(108	)		(802	)
Accrual balance on March 31, 2024	$	1,715		$	110		$	1,825