Note 5 - Property, Plant, and Equipment

9 Months Ended

Mar. 31, 2013

Property, Plant and Equipment Disclosure [Text Block]

(5) Property, Plant, and Equipment

Components of property, plant, and equipment consist of the following:

(amounts in thousands)	March 31, 2013			June 30, 2012
Land and land improvements	$	4,559		$	5,167
Construction-in-process		1,277			1,769
Buildings, furniture, and fixtures		31,306			35,706
Machinery and equipment		76,257			73,419
		113,399			116,061
Less accumulated depreciation		(72,287	)		(68,890	)
	$	41,112		$	47,171

During the quarter ended September 30, 2012, the Company accepted an unsolicited offer from a neighboring business to purchase its Salem, New Hampshire land and building, and during the quarter ended December 31, 2012, the Company closed on the sale and leased back a portion of the land and building.  The Wireless Group’s Salem location will continue to operate out of the facility.  The sale and leaseback transaction resulted in a $0.8 million gain that will be deferred over the reasonably assured lease term, which is 8 years.  Details of the sale include $5.1 million in cash received, net book value of the land and building of $4.3 million, and no ownership rights existing after the purchase. The lease terms include an initial term of five years, three renewal options of three years each, no bargain purchase option, 2-3% rent increases over the initial term, annual rent of approximately $0.3 million, and occupancy related costs including payment of property taxes, insurance and utilities.