Restructuring Charges

12 Months Ended

Jun. 30, 2013



3.	Restructuring Charges

Operationally, from time to time Adept has undertaken restructuring and other cost reduction actions to support its financial model, which emphasizes cost efficiency balanced with investments in the Company’s product initiatives and revenue generating activities.

During fiscal 2013, the Company incurred $785,000 in restructuring charges which were primarily employee severances in connection with the Company's second quarter reduction in force and $225,000 related to our lease termination of our facility in Wissous, France. At June 30, 2013, $248,000, of these restructuring charges were accrued to be paid, substantially all of which is anticipated to be paid in the first half of fiscal 2014.

During fiscal 2012, the Company incurred $1.3 million in restructuring charges which were primarily in connection with the consolidation of InMoTx operations in Denmark into the Company's Pleasanton, California operations. Consolidation activities began during the second quarter of fiscal 2012, and were completed by June 30, 2012.

Due to these restructuring activities during fiscal 2013, the Company performed a goodwill and intangible impairment evaluation related to the InMoTx acquisition, and, as a result, impaired $1.4 million of goodwill and $235,000 of other intangible assets. See Note 5 for additional details on the impairment.

- 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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