Property and Equipment

12 Months Ended

Jun. 30, 2014

E. Property and Equipment

Property and equipment consisted of the following at June 30, 2014 and 2013 (in thousands):

	June 30,

	2014			2013
Leasehold improvements	$	28,464		$	26,777
Machinery and equipment		16,724			14,741
Computer hardware and software		5,846			4,894
Furniture and fixtures		1,876			1,540
Assets under construction		3,688			814


	$	56,598		$	48,766
Less accumulated depreciation		(42,249	)		(37,983	)


Property and equipment, net	$	14,349		$	10,783

Depreciation expense was approximately $4.6 million for each of the years ended June 30, 2014, 2013 and 2012. Included in the table above, the Company's investment in equipment under capital leases was $574,000, net of accumulated amortization of $50,000, at June 30, 2014 and $110,000, net of accumulated amortization of $22,000, at June 30, 2013.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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