Key Tronic (KTCC) 10-Q 10 Feb 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 01, 2022	Feb. 09, 2022
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-11559
Entity Registrant Name	KEY TRONIC CORP
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-0849125
Entity Address, Address Line One	N. 4424 Sullivan Road
Entity Address, City or Town	Spokane Valley
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99216
City Area Code	509
Local Phone Number	928-8000
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	KTCC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-29
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,761,871
Amendment Flag	false
Document Period End Date	Jan. 1, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000719733

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 01, 2022	Jul. 03, 2021
ASSETS
Cash and cash equivalents	$ 1,046	$ 3,473
Trade receivables, net of allowance for doubtful accounts of $330 and $275	123,413	110,324
Contract assets	25,968	24,781
Inventory, Net	157,750	137,329
Other	35,374	23,345
Total current assets	343,551	299,252
Property, plant and equipment, net	29,004	35,735
Operating lease right-of-use assets, net	19,068	15,745
Other assets:
Deferred income tax asset	10,637	9,656
Other	8,247	1,458
Total other assets	18,884	11,114
Total assets	410,507	361,846
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	131,842	92,823
Accrued compensation and vacation	7,357	11,471
Current portion of debt, net	4,991	2,143
Other	22,938	20,268
Total current liabilities	167,128	126,705
Long-term liabilities:
Term loans	6,817	7,906
Revolving loan	96,435	90,362
Operating lease liabilities	13,649	11,428
Other long-term obligations	3,843	1,740
Total long-term liabilities	120,744	111,436
Total liabilities	287,872	238,141
Commitments and contingencies (Note 8)
Shareholders’ equity:
Common stock, no par value—shares authorized 25,000; issued and outstanding 10,762 and 10,762 shares, respectively	47,324	47,181
Retained earnings	75,854	74,452
Accumulated other comprehensive income	(543)	2,072
Total shareholders’ equity	122,635	123,705
Total liabilities and shareholders’ equity	$ 410,507	$ 361,846

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jan. 01, 2022	Jul. 03, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 330	$ 275
Common stock - par value	$ 0	$ 0
Common stock - shares authorized	25,000	25,000
Common stock - shares issued	10,762	10,762
Common stock - shares outstanding	10,762	10,762

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Income Statement [Abstract]
Net sales	$ 134,456	$ 128,262	$ 267,218	$ 251,469
Cost of sales	124,648	117,640	247,272	230,832
Gross profit	9,808	10,622	19,946	20,637
Operating expenses
Research, development and engineering expenses	2,498	2,392	4,947	4,637
Selling, general and administrative expenses	5,659	5,510	11,254	10,484
Total operating expenses	8,157	7,902	16,201	15,121
Operating income	1,651	2,720	3,745	5,516
Interest expense, net	1,095	848	2,087	1,529
Income before income taxes	556	1,872	1,658	3,987
Income tax provision (benefit)	(31)	292	256	688
Net income	$ 587	$ 1,580	$ 1,402	$ 3,299
Earnings per share:
Net income per share — Basic	$ 0.05	$ 0.15	$ 0.13	$ 0.31
Weighted average shares outstanding — Basic	10,762	10,760	10,762	10,760
Net income per share — Diluted	$ 0.05	$ 0.14	$ 0.13	$ 0.30
Weighted average shares outstanding — Diluted	11,057	11,385	11,055	11,040

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Comprehensive income (loss):
Net income	$ 587	$ 1,580	$ 1,402	$ 3,299
Other comprehensive income (loss):
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,084)	2,926	(2,615)	4,194
Comprehensive income (loss)	$ (497)	$ 4,506	$ (1,213)	$ 7,493

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	$ (0.5)	$ 0.8	$ (0.8)	$ 1.5

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020
Operating activities:
Net income	$ 1,402,000	$ 3,299,000
Adjustments to reconcile net income to cash used in operating activities:
Depreciation and amortization	2,613,000	3,368,000
Amortization of interest rate swap	151,000	125,000
Amortization of deferred loan costs	69,000	35,000
Provision for obsolete inventory	365,000	446,000
Provision for warranty	228,000	36,000
Provision for doubtful accounts	54,000	(21,000)
Share-based compensation expense	143,000	114,000
Deferred income taxes	(175,000)	39,000
Changes in operating assets and liabilities:
Trade receivables	(13,143,000)	(13,961,000)
Contract assets	(1,187,000)	1,118,000
Inventories	(20,786,000)	(4,865,000)
Other assets	(13,537,000)	1,665,000
Accounts payable	39,019,000	(10,268,000)
Accrued compensation and vacation	(4,114,000)	(1,388,000)
Other liabilities	(1,630,000)	3,435,000
Cash used in operating activities	(10,528,000)	(16,823,000)
Investing activities:
Purchase of property and equipment	(2,766,000)	(6,963,000)
Proceeds from sale of fixed assets	2,000	0
Cash used in investing activities	(2,764,000)	(6,963,000)
Financing activities:
Payment of financing costs	(118,000)	(561,000)
Proceeds from issuance of long term debt	7,004,000	11,000,000
Interest rate swap termination fee	0	(925,000)
Repayments of long term debt	1,066,000	11,066,000
Borrowings under revolving credit agreement	289,963,000	163,483,000
Repayments of revolving credit agreement	283,841,000	133,691,000
Principal payments on finance leases	(1,077,000)	0
Cash provided by financing activities	10,865,000	28,240,000
Net (decrease) increase in cash and cash equivalents	(2,427,000)	4,454,000
Cash and cash equivalents, beginning of period	3,473,000	553,000
Cash and cash equivalents, end of period	1,046,000	5,007,000
Supplemental cash flow information:
Interest payments	1,811,000	1,533,000
Income tax payments, net of refunds	530,000	897,000
Recognition of operating lease liabilities and right-of-use assets	5,246	0
Recognition of financing lease liabilities and right-of-use assets	$ 5,973	$ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDER'S EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balances (Shares)		10,760
Balances, Period Start at Jun. 27, 2020	$ 115,557	$ 46,946	$ 70,111	$ (1,500)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock appreciation rights (Shares)		0
Share-based compensation expense	114	$ 114
Net income	3,299		3,299
Balances, Period End at Dec. 26, 2020	123,164	$ 47,060	73,410	2,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	4,194			4,194
Balances (Shares)		10,760
Balances, Period Start at Sep. 26, 2020	118,607	$ 47,009	71,830	(232)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock appreciation rights (Shares)		0
Share-based compensation expense		$ 51
Net income	1,580		1,580
Balances, Period End at Dec. 26, 2020	123,164	$ 47,060	73,410	2,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	2,926			2,926
Balances (Shares)		10,760
Balances (Shares)		10,762
Balances, Period Start at Jul. 03, 2021	123,705	$ 47,181	74,452	2,072
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock appreciation rights (Shares)		0
Share-based compensation expense	143	$ 143
Net income	1,402		1,402
Balances, Period End at Jan. 01, 2022	122,635	$ 47,324	75,854	(543)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(2,615)			(2,615)
Balances (Shares)		10,762
Balances, Period Start at Oct. 02, 2021	123,057	$ 47,249	75,267	541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock appreciation rights (Shares)		0
Share-based compensation expense		$ 75
Net income	587		587
Balances, Period End at Jan. 01, 2022	122,635	$ 47,324	$ 75,854	(543)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ (1,084)			$ (1,084)
Balances (Shares)		10,762

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jan. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	Basis of PresentationThe consolidated financial statements included herein have been prepared by Key Tronic Corporation and subsidiaries (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in our annual consolidated financial statements have been condensed or omitted. The year-end condensed consolidated balance sheet information was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The financial statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 3, 2021.
FISCAL YEAR	The Company’s reporting period is a 52/53 week fiscal year ending on the Saturday closest to June 30. The three and six month periods ended January 1, 2022 and December 26, 2020, were 13 and 26 week periods, respectively. Fiscal year 2022 will end on July 2, 2022, which is a 52 week year. Fiscal year 2021 which ended on July 3, 2021, was a 53 week year. Certain Significant Risks and Uncertainties Related to Outbreak of Coronavirus Disease 2019 (“COVID-19”) Due to the COVID-19 pandemic, the Company has seen extreme shifts in demand from its customer base, and shifts in supply chain and logistics risks. The possibility of future temporary closures, as well as adverse fluctuations in customer demand, freight and expedite costs, precautionary safety expenses and labor shortages, collectability of accounts, and future supply chain disruptions during the rapidly changing COVID-19 environment can materially impact operating results. Additionally, continued adverse macroeconomic conditions and significant currency exchange fluctuations can also materially impact operating results.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 01, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	Significant Accounting Policies Reclassifications Certain prior period reclassifications were made to conform with the current period presentation. These reclassifications had no effect on reported income, comprehensive income, cash flows, total assets, or shareholders' equity as previously reported. Earnings Per Common Share Basic earnings per common share (EPS) is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) by the combination of other potentially dilutive weighted average common shares and the weighted average number of common shares outstanding during the period using the treasury stock method. The computation assumes the proceeds from the exercise of equity awards were used to repurchase common shares at the average market price during the period. The computation of diluted EPS does not assume conversion, exercise, or contingent issuance of common stock equivalent shares that would have an anti-dilutive effect on EPS. Derivative Instruments and Hedging Activities The Company has entered into foreign currency forward contracts that are accounted for as cash flow hedges . The effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income (AOCI) and is reclassified into earnings in the same period in which the underlying hedged transaction affects earnings. The derivative’s effectiveness represents the change in fair value of the hedge that offsets the change in fair value of the hedged item. The Company uses derivatives to manage the variability of foreign currency fluctuations of expenses in our Mexico facilities. The foreign currency forward contracts have terms that are matched to the underlying transactions being hedged. As a result, these transactions fully offset the hedged risk and no ineffectiveness has been recorded. The Company’s foreign currency forward contracts potentially expose the Company to credit risk to the extent the counterparty may be unable to meet the terms of the agreement. The Company minimizes such risk by utilizing a counterparty with a strong credit rating. The Company’s counterparty to the foreign currency forward contracts is a major banking institution. This institution does not require collateral for the contracts, and the Company believes that the risk of the counterparty failing to meet their contractual obligations is remote. The Company does not enter into derivative instruments for trading or speculative purposes. Income Taxes We compute our interim income tax provision through the use of an estimated annual effective tax rate (ETR) applied to year-to-date operating results and specific events that are discretely recognized as they occur. In determining the estimated annual ETR, we analyze various factors, including projections of our annual earnings, taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, our ability to use tax credits and available tax planning alternatives. Discrete items, including the effect of changes in tax laws, tax rates, and certain circumstances with respect to valuation allowances or other unusual or non-recurring tax adjustments, are reflected in the period in which they occur as an addition to, or reduction from, the income tax provision, rather than included in the estimated annual ETR. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences and benefits attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as tax credit and net operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities for a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that is more likely than not to be realized. We utilize a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments based on new assessments and changes in estimates and which may not accurately forecast actual outcomes. Our policy is to recognize interest and penalties related to the underpayment of income taxes as a component of income tax expense. The tax years 2004 through the present remain open to examination by the major U.S. taxing jurisdictions to which we are subject. Refer to Note 6 for further discussions. Recently Issued Accounting Standards In January 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2021-01, Reference Rate Reform (Topic 848) to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The Company is currently assessing the effects on its consolidated financial statements, and if it will elect this optional standard. In March of 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments, which clarifies specific issues raised by stakeholders. Specifically, the ASU clarifies the following: 1) that all entities are required to provide the fair value option disclosures in ASC 825, Financial Instruments 2) clarifies that the portfolio exception in ASC 820, Fair Value Measurement, applies to nonfinancial items accounted for as derivatives under ASC 815, Derivatives and Hedging; 3) clarifies that for purposes of measuring expected credit losses on a net investment in a lease in accordance with ASC 326, Financial Instruments - Credit Losses, the lease term determined in accordance with ASC 842, Leases, should be used as the contractual term; 4) clarifies that when an entity regains control of financial assets sold, it should recognize an allowance for credit losses in accordance with ASC 326; and 5) aligns the disclosure requirements for debt securities in ASC 320, Investments - Debt Securities, with the corresponding requirements for depository and lending institutions in ASC 942, Financial Services - Depository and Lending. The amendments in the ASU have various effective dates and transition requirements which are dependent on timing of adoption of ASU 2016-13. The Company is currently assessing the effects on its consolidated financial statements, and it intends to adopt the guidance as they become effective. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” and also issued subsequent amendments to the initial guidance: ASU 2018-19, ASU 2019-04 and ASU 2019-05, which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance is effective for the Company beginning in the first quarter of fiscal year 2024 with early adoption permitted. The Company is currently assessing the impact on its consolidated financial statements, and it intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2024.

INVENTORIES

INVENTORIES	6 Months Ended
	Jan. 01, 2022
Inventory Disclosure [Abstract]
INVENTORIES	InventoriesTotal inventory as of January 1, 2022 is $157.8 million compared to $137.3 million as of July 3, 2021. Substantially all of the Company’s inventory balances are raw materials.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jan. 01, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-Term Debt On September 3, 2021, the Company entered into an amendment to the Company’s current loan agreement with Bank of America. The amendment increases the Company’s current credit facility of $93 million to $120 million, subject to the Company’s borrowing base, maturing on September 3, 2026. As of January 1, 2022, the Company had an outstanding balance under the asset-based revolving credit facility of $97.0 million, $0.3 million in outstanding letters of credit and $17.3 million available for future borrowings. As of July 3, 2021, the Company had an outstanding balance under the credit facility with Bank of America of $90.9 million, $0.3 million in outstanding letters of credit and $2.1 million available for future borrowings. Generally, the interest rate applicable to loans under the Bank of America loan agreement will be, at the Company’s option: (i)(A) the base rate which is the highest of (1) the prime rate for the applicable day (as such rate is determined from time to time by the Bank), (2) the federal funds rate for the applicable day plus 0.50%, and (3) LIBOR for a 30-day interest period as of the applicable day plus 1.00% (provided that in no event shall the base rate be less than zero), plus the applicable interest margin for base rate loans; and (B) LIBOR rate for an applicable interest period (provided that in no event shall the LIBOR rate be less than 0.50%), plus the applicable interest margin for LIBOR rate loans. Depending on average daily excess borrowing availability over applicable periods under the Credit Facility, applicable interest margins on: (x) base rate loans will be 1.25-1.75%; and (y) LIBOR rate loans will be 2.25-2.75%, resetting on a quarterly basis beginning in early 2021. If there is an event of default under the loan agreement, all loans and other obligations will bear interest at a rate of an additional 2.00% on the otherwise applicable interest rates. In addition to interest charges, the Company is required to pay a fee of 0.25% per annum on the unused portion of the Credit Facility, monthly in arrears. Under the new loan agreement with Bank of America, the asset-based revolving credit facility bears interest at LIBOR plus 2.5%, as elected by the Company. On August 14, 2020, the Company also entered into a $5.0 million equipment financing facility relating to the Company’s existing U.S. manufacturing equipment that bears interest at 4.85% and matures on August 14, 2025. Under this loan agreement, equal monthly payments of approximately $94,000 commenced on September 14, 2020 and will continue through the maturity of the equipment financing facility on August 14, 2025. As of January 1, 2022, the Company had an outstanding balance of $3.8 million. As of July 3, 2021, the Company had an outstanding balance of $4.2 million under the Bank of America equipment term loan agreement. On November 24, 2020, the Company entered into a $6.0 million equipment financing facility related to the Company’s existing manufacturing equipment that bears interest at 5.52% and matures on April 24, 2026. Under this loan agreement, equal monthly payments of $100,000 commenced on May 24, 2021 and will continue through the maturity of the equipment financing facility on April 24, 2026. As of January 1, 2022, the Company had an outstanding balance of $5.2 million. As of July 3, 2021, the Company had an outstanding balance of $5.8 million. The interest rates on outstanding debt as of January 1, 2022 range from 3.25% - 5.52% compared to 3.25% - 5.52% as of July 3, 2021. Debt maturities as of January 1, 2022 for the next five years and thereafter are as follows (in thousands): Fiscal Years Ending Amount 2022 (1) $ 1,076 2023 2,190 2024 2,239 2025 2,290 2026 1,187 Thereafter 97,009 Total debt $ 105,991 Unamortized debt issuance costs (574) Long-term debt, net of debt issuance costs $ 105,417 (1) Represents scheduled payments for the remaining six-month period ending July 2, 2022. The Company must comply with certain financial covenants, including a fixed charge coverage ratio and a cash flow leverage ratio. The credit agreement requires the Company to grant certain inspection rights to Bank of America, limit or restrict the Company’s cash management; limit or restrict the ability of the Company to incur additional liens, make acquisitions or investments, incur additional indebtedness, engage in mergers, consolidations, liquidations, dissolutions, or dispositions, pay dividends or other restricted payments, prepay certain indebtedness, engage in transactions with affiliates, and use proceeds. The Company was in compliance with all financial covenants as of January 1, 2022.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jan. 01, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	Income Taxes The Company expects to repatriate a portion of its foreign earnings based on increased net sales growth driving additional capital requirements domestically, cash requirements for potential acquisitions and to implement certain tax strategies. The Company currently expects to repatriate approximately $7.4 million of foreign earnings in the future. All other unremitted foreign earnings are expected to remain permanently reinvested for planned fixed assets purchases and improvements in foreign locations. Repatriations of cash will generally be tax-free in the U.S. However, withholding taxes in China may still apply to any such future repatriations. Management has not changed its indefinite investment assertions with regard to the portion of accumulated earnings and profits in China that may be repatriated in the future. Accordingly, management estimates that future repatriations of cash from China may result in approximately $0.7 million of withholding tax. We do not anticipate there would be any offsetting foreign tax credits in the U.S. and as such, this potential liability is a direct cost associated with actual repatriations. Withholding taxes would not apply to future repatriations from Mexico or Vietnam. The Company has available approximately $6.5 million of gross federal research and development tax credits as of January 1, 2022. ASC 740 requires the Company to recognize in its financial statements uncertainties in tax positions taken that may not be sustained upon examination by the taxing authorities. Accordingly, as of January 1, 2022, the Company has recorded $2.7 million of unrecognized tax benefits associated with these federal tax credits, resulting in a net deferred tax benefit of approximately $3.8 million. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act is not expected to have a material impact on the provision or timing of cash payments for income taxes. However, under the CARES Act, AMT credits not previously refunded for the 2018 tax year became refundable in the 2019 taxable year rather than in years 2019-2021, and taxpayers could elect to claim 100% of the AMT credits in the first taxable year beginning in 2018 by applying for a tentative refund claim on or before December 31, 2020. The Company made this election by applying for a tentative refund claim in the fourth quarter of fiscal year 2020. The Company is continuing to evaluate the impacts of other aspects of the CARES Act, and at this time the Company does not believe they will have a material impact on our consolidated financial position, results of operations, or cash flows.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jan. 01, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	Earnings Per Share The following table presents a reconciliation of the denominator in the basic and diluted EPS calculation and the number of antidilutive common share awards that were not included in the diluted earnings per share calculation. These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period. Three Months Ended (in thousands, except share and per share information) January 1, 2022 December 26, 2020 Net income $ 587 $ 1,580 Weighted average shares outstanding—basic 10,762 10,760 Effect of dilutive common stock awards 295 625 Weighted average shares outstanding—diluted 11,057 11,385 Net income per share—basic $ 0.05 $ 0.15 Net income per share—diluted $ 0.05 $ 0.14 Antidilutive SARs not included in diluted earnings per share 619 — Six Months Ended (in thousands, except share and per share information) January 1, 2022 December 26, 2020 Net income $ 1,402 $ 3,299 Weighted average shares outstanding—basic 10,762 10,760 Effect of dilutive common stock awards 293 280 Weighted average shares outstanding—diluted 11,055 11,040 Net income per share—basic $ 0.13 $ 0.31 Net income per share—diluted $ 0.13 $ 0.30 Antidilutive SARs not included in diluted earnings per share 619 324

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jan. 01, 2022
Share-based Payment Arrangement [Abstract]
SHARE BASED COMPENSATION	Share-based Compensation The Company’s incentive plan provides for equity and liability awards to employees and non-employee directors in the form of stock options, stock appreciation rights (SARs), restricted stock, restricted stock units, stock awards, stock units, performance shares, performance units, and other stock-based or cash-based awards. Compensation cost is recognized on a straight-line basis over the requisite employee service period, which is generally the vesting period, and is recorded as employee compensation expense in cost of goods sold, research, development and engineering, and selling, general and administrative expenses. Share-based compensation is recognized only for those awards that are expected to vest, with forfeitures estimated at the date of grant based on historical experience and future expectations. In addition to service conditions, SARs contain a performance condition. The additional performance condition is based upon the achievement of Return on Invested Capital (ROIC) goals relative to a peer group. All awards with performance conditions are evaluated quarterly to determine the likelihood that performance metrics will be achieved during the performance period. These awards are charged to compensation expense over the requisite service period based on the number of shares expected to vest. The SARs cliff vest after a three-year period from date of grant and expire five years from date of grant. The grant date fair value for the awards granted below were estimated using the Black Scholes option valuation method: August 9, 2021 July 23, 2020 SARs Granted 165,000 155,000 Strike Price $ 7.17 $ 6.94 Fair Value $ 2.73 $ 2.32 Total share-based compensation expense recognized during the three months ended January 1, 2022 and December 26, 2020 was approximately $75,000 and $51,000, respectively. Total share-based compensation expense recognized during the six months ended January 1, 2022 and December 26, 2020 was approximately $143,000 and $114,000, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jan. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies Litigation and Other Matters The Company is party to certain lawsuits or claims in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the financial position, results of operations or cash flow of the Company. Warranties The Company provides warranties on certain product sales. Allowances for estimated warranty costs are recorded during the period of sale. The determination of such allowances requires the Company to make estimates of product return rates and expected costs to repair or to replace the products under warranty. If actual return rates and/or repair and replacement costs differ significantly from management’s estimates, adjustments to recognize additional cost of sales may be required in future periods. The Company’s warranty reserve was approximately $25,000 as of January 1, 2022 and $25,000 as of July 3, 2021, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jan. 01, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	Derivative Financial Instruments As of January 1, 2022, the Company had outstanding foreign currency forward contracts with a total notional amount of $13.9 million. The maturity dates for these contracts extend through June 2022. For the three months ended January 1, 2022, the Company did not enter into any foreign currency forward contracts and settled $5.1 million of contracts. During the same period of the previous year, the Company did not enter into any foreign currency forward contracts and settled $6.3 million of contracts. For the six months ended January 1, 2022, the Company entered into $13.9 million of foreign currency forward contracts and settled $10.6 million of such contracts. During the same period of the previous year, the Company did not enter into any foreign currency forward contracts and settled $13.0 million of such contracts. As of January 1, 2022, the aggregate notional amount of the Company’s outstanding foreign currency contracts along with their unrealized gains (losses) are expected to mature as summarized below (in thousands): Quarter Ending Notional Contracts in MXN Notional Contracts in USD Estimated Fair Value April 2, 2022 $ 149,893 $ 7,224 $ 35 July 2, 2022 $ 141,493 $ 6,726 $ 7 On November 6, 2019, the Company entered into an interest rate swap contract with an effective date of November 6, 2019 and a termination date of September 30, 2022, related to the borrowings outstanding under the term loan with Wells Fargo Bank. This interest rate swap contract was terminated on August 14, 2020 when the Company entered into a loan and security agreement with Bank of America. On the date of termination this interest rate swap was in a liability position of $148,400, which will be amortized to interest expense over the original term of the swap. On November 6, 2019, the Company entered into an interest rate swap contract with an effective date of November 6, 2019 and a termination date of November 1, 2023, related to the borrowings outstanding under the line of credit with Wells Fargo Bank. This interest rate swap contract was terminated on August 14, 2020 when the Company entered into a loan and security agreement with Bank of America. On the date of termination this interest rate swap was in a liability position of $776,500, which will be amortized to interest expense over the original term of the swap. The following table summarizes the fair value of derivative instruments in the Consolidated Balance Sheet as of January 1, 2022 and July 3, 2021 (in thousands): January 1, 2022 July 3, 2021 Derivatives Designated as Hedging Instruments Balance Sheet Location Fair Value Fair Value Foreign currency forward contracts Other current assets $ 43 $ 3,614 Foreign currency forward contracts Other current liabilities $ (1) $ — The following tables summarize the gain (loss) on derivative instruments, net of tax, on the Consolidated Statements of Income for the three months ended January 1, 2022 and December 26, 2020, respectively (in thousands): Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 1,115 $ 338 $ (1,498) $ (45) Interest rate swap Interest expense (574) — 76 (498) Total $ 541 $ 338 $ (1,422) $ (543) Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 643 $ 2,958 $ (108) $ 3,493 Interest rate swap Interest expense (875) — 76 (799) Total $ (232) $ 2,958 $ (32) $ 2,694 The following tables summarize the gain (loss) on derivative instruments, net of tax, on the Consolidated Statements of Income for the six months ended January 1, 2022 and December 26, 2020, respectively (in thousands): Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 2,721 $ 562 $ (3,328) $ (45) Interest rate swap Interest expense (649) — 151 (498) Total $ 2,072 $ 562 $ (3,177) $ (543) Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ (759) $ 4,001 $ 251 $ 3,493 Interest rate swap Interest expense (741) (223) 165 (799) Total $ (1,500) $ 3,778 $ 416 $ 2,694 As of January 1, 2022, the net amount of unrealized gain expected to be reclassified into earnings within the next 12 months is approximately $33,000. As of January 1, 2022, the Company does not have any foreign exchange contracts with credit-risk-related contingent features.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jan. 01, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Fair Value Measurements The Company currently has forward contracts to hedge known future cash outflows for expenses denominated in the Mexican peso. These contracts are measured on a recurring basis based on the foreign currency spot rates and forward rates quoted by banks or foreign currency dealers. There are three levels of fair value hierarchy inputs used to value assets and liabilities which include: Level 1 – inputs are quoted market prices for identical assets or liabilities; Level 2 – inputs other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – inputs are unobservable inputs for the asset or liability. These contracts are marked to market using level 2 input criteria every quarter with the unrealized gain or loss, net of tax, reported as a component of shareholders’ equity in accumulated other comprehensive gain (loss), as they qualify for hedge accounting. The following table summarizes the fair value of assets (liabilities) of the Company’s derivatives that are required to be measured on a recurring basis as of January 1, 2022 and July 3, 2021 (in thousands): January 1, 2022 Level 1 Level 2 Level 3 Total Financial Assets: Foreign currency forward contracts $ — $ 43 $ — $ 43 Financial Liabilities: Foreign currency forward contracts $ — $ (1) $ — $ (1) July 3, 2021 Level 1 Level 2 Level 3 Total Financial Assets: Foreign currency forward contracts $ — $ 3,614 $ — $ 3,614 The carrying values of cash and cash equivalents, accounts receivable and current liabilities reflected on the balance sheets at January 1, 2022 and July 3, 2021, reasonably approximate their fair value. The Company’s long-term debt, which is measured at amortized cost, primarily consists of an asset-based revolving credit facility, lease liability, and an equipment loan. These borrowings bear interest at LIBOR plus 2.5% per the loan agreement. Each of these rates is a variable floating rate dependent upon current market conditions and the Company’s current credit risk as discussed in Note 4.

REVENUE

REVENUE	6 Months Ended
	Jan. 01, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACT WITH CUSTOMER	Revenue Revenue Recognition The Company specializes in services ranging from product manufacturing to engineering and tooling services. The first step in its process for revenue recognition is to identify the contract with a customer. A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations. A contract can be written, oral, or implied. The Company generally enters into manufacturing service agreements (“MSA”) with its customers that outline the terms of the business relationship between the customer and the Company. This includes matters such as warranty, indemnification, transfer of title and risk of loss, liability for excess and obsolete inventory, pricing, payment terms, etc. The Company will also bid on a program-by-program basis for customers in which an executed MSA may not be in place. In these instances, as well as when we have an MSA in place, we receive customer purchase orders for specific quantities and timing of products. As a result, the Company considers its contract with a customer to be the combination of the MSA and the purchase order. The transaction price is fixed and set forth in each purchase order. In the Company's normal course of business, there are no variable pricing components, or material amounts refunded to customers in the form of refunds or rebates. The Company assesses whether control of the product or services promised under the contract is transferred to the customer at a point in time (shipment) or over time (as we manufacture the product). The Company is first required to evaluate whether its contracts meet the criteria for 'over-time' or 'point-in-time' recognition. The Company has determined that for the majority of its contracts the Company is manufacturing products for which there is no alternative use due to the unique nature of the customer-specific product, IP and other contract restrictions. The Company has an enforceable right to payment including a reasonable profit for performance completed to date with respect to these contracts. As a result, revenue is recognized under these contracts 'over-time' based on the input cost-to-cost method as it better depicts the transfer of control. This input method is based on the ratio of costs incurred to date as compared to the total estimated costs at completion of the performance obligation. For all other contracts that do not meet these criteria, such as manufacturing contracts for which the terms do not provide an enforceable right to payment for performance completed to date, the Company recognizes revenue when it has transferred control of the related manufactured products which generally occurs upon shipment to the customer. Revenue from engineering services is recognized over time as the services are performed. The Company’s sales arrangements do not contain any significant financing component for its customers. The Company generally provides a warranty for workmanship on its manufacturing contracts. Historically, the amount of returns for workmanship issues has been de minimis under the Company’s warranties. The Company elected to not disclose information about remaining performance obligations as they are part of contracts that that have expected durations of one year or less. During the first six months of fiscal year 2022, no revenues were recognized from performance obligations satisfied or partially satisfied in previous periods. Contract Balances A contract asset is recognized when the Company has recognized revenue, but has not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheet and transferred to receivables when the right to payment becomes unconditional. The following table summarizes the activity in the Company’s contract assets during the six months ended January 1, 2022 (in thousands): Contract Assets Beginning balance, July 3, 2021 $ 24,781 Revenue recognized 257,607 Amounts collected or invoiced (256,420) Ending balance, January 1, 2022 $ 25,968 Disaggregation of Revenue The following table presents the Company’s revenue disaggregated for the three and six months ended January 1, 2022 and December 26, 2020 (in thousands): Revenue Recognition Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 Over-Time $ 128,126 $ 125,534 $ 257,607 $ 246,370 Point-in-Time 6,330 2,728 9,611 5,099 Total $ 134,456 $ 128,262 $ 267,218 $ 251,469

LEASES

LEASES	6 Months Ended
	Jan. 01, 2022
Leases [Abstract]
LESSEE, OPERATING LEASES	Leases The Company has several commitments under operating and financing leases for warehouses, manufacturing facilities, office buildings, and equipment with initial terms that expire at various dates during the next 1 year to 10 years. The components of lease cost for the three and six months ended January 1, 2022 were (in thousands): Lease cost Classification Three Months Ended Six Months Ended Operating lease cost Cost of sales $ 1,598 $ 3,031 Operating lease cost Selling, general and administrative expenses $ 250 558 Financing lease cost Cost of sales $ 617 $ 1,051 Financing lease cost Selling, general and administrative expenses $ 17 $ 27 Total lease cost $ 2,482 $ 4,667 Fixed lease cost $ 2,081 $ 3,858 Short-term lease cost $ 401 $ 809 Total lease cost $ 2,482 $ 4,667 Amounts reported in the Consolidated Balance Sheet as of January 1, 2022 were (in thousands, except weighted average lease term and discount rate): January 1, 2022 Operating Leases: Operating lease right of use assets $ 19,068 Operating lease liabilities (1) $ 19,027 Weighted-average remaining lease term (in years) Operating leases 5.50 Weighted-average discount rate Operating leases 4.0 % Financing Leases (2) : Financing lease right of use assets $ 6,656 Financing lease liabilities $ 5,973 Weighted-average remaining lease term (in years) Financing leases 2.64 Weighted-average discount rate Financing leases 8.7 % (1) The current portion of the total operating lease liabilities of $5.4 million is classified under Other Current Liabilities , resulting in $13.7 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet. (2) The total finance lease right of use assets of $6.7 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $2.8 million is classified under Current portion of debt, net, resulting in $3.1 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet. Other information related to leases was as follows (in thousands): Three Months Ended Six Months Ended January 1, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 478 $ 1,924 Financing cash flows used in financing leases $ 676 $ 1,077 Future lease payments under non-cancellable leases as of January 1, 2022 are as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases 2022 (1) $ 2,839 $ 1,412 2023 4,666 2,825 2024 3,811 2,496 2025 3,462 92 2026 2,667 — Thereafter 4,521 — Total undiscounted lease payments 21,966 6,825 Less: present value discount (2,939) (852) Total lease liabilities $ 19,027 $ 5,973

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 01, 2022
Accounting Policies [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share (EPS) is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) by the combination of other potentially dilutive weighted average common shares and the weighted average number of common shares outstanding during the period using the treasury stock method. The computation assumes the proceeds from the exercise of equity awards were used to repurchase common shares at the average market price during the period. The computation of diluted EPS does not assume conversion, exercise, or contingent issuance of common stock equivalent shares that would have an anti-dilutive effect on EPS.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company has entered into foreign currency forward contracts that are accounted for as cash flow hedges . The effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income (AOCI) and is reclassified into earnings in the same period in which the underlying hedged transaction affects earnings. The derivative’s effectiveness represents the change in fair value of the hedge that offsets the change in fair value of the hedged item. The Company uses derivatives to manage the variability of foreign currency fluctuations of expenses in our Mexico facilities. The foreign currency forward contracts have terms that are matched to the underlying transactions being hedged. As a result, these transactions fully offset the hedged risk and no ineffectiveness has been recorded. The Company’s foreign currency forward contracts potentially expose the Company to credit risk to the extent the counterparty may be unable to meet the terms of the agreement. The Company minimizes such risk by utilizing a counterparty with a strong credit rating. The Company’s counterparty to the foreign currency forward contracts is a major banking institution. This institution does not require collateral for the contracts, and the Company believes that the risk of the counterparty failing to meet their contractual obligations is remote. The Company does not enter into derivative instruments for trading or speculative purposes.
Income Taxes	Income Taxes We compute our interim income tax provision through the use of an estimated annual effective tax rate (ETR) applied to year-to-date operating results and specific events that are discretely recognized as they occur. In determining the estimated annual ETR, we analyze various factors, including projections of our annual earnings, taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, our ability to use tax credits and available tax planning alternatives. Discrete items, including the effect of changes in tax laws, tax rates, and certain circumstances with respect to valuation allowances or other unusual or non-recurring tax adjustments, are reflected in the period in which they occur as an addition to, or reduction from, the income tax provision, rather than included in the estimated annual ETR. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences and benefits attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as tax credit and net operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities for a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that is more likely than not to be realized. We utilize a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments based on new assessments and changes in estimates and which may not accurately forecast actual outcomes. Our policy is to recognize interest and penalties related to the underpayment of income taxes as a component of income tax expense. The tax years 2004 through the present remain open to examination by the major U.S. taxing jurisdictions to which we are subject. Refer to Note 6 for further discussions.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In January 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2021-01, Reference Rate Reform (Topic 848) to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The Company is currently assessing the effects on its consolidated financial statements, and if it will elect this optional standard. In March of 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments, which clarifies specific issues raised by stakeholders. Specifically, the ASU clarifies the following: 1) that all entities are required to provide the fair value option disclosures in ASC 825, Financial Instruments 2) clarifies that the portfolio exception in ASC 820, Fair Value Measurement, applies to nonfinancial items accounted for as derivatives under ASC 815, Derivatives and Hedging; 3) clarifies that for purposes of measuring expected credit losses on a net investment in a lease in accordance with ASC 326, Financial Instruments - Credit Losses, the lease term determined in accordance with ASC 842, Leases, should be used as the contractual term; 4) clarifies that when an entity regains control of financial assets sold, it should recognize an allowance for credit losses in accordance with ASC 326; and 5) aligns the disclosure requirements for debt securities in ASC 320, Investments - Debt Securities, with the corresponding requirements for depository and lending institutions in ASC 942, Financial Services - Depository and Lending. The amendments in the ASU have various effective dates and transition requirements which are dependent on timing of adoption of ASU 2016-13. The Company is currently assessing the effects on its consolidated financial statements, and it intends to adopt the guidance as they become effective. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” and also issued subsequent amendments to the initial guidance: ASU 2018-19, ASU 2019-04 and ASU 2019-05, which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance is effective for the Company beginning in the first quarter of fiscal year 2024 with early adoption permitted. The Company is currently assessing the impact on its consolidated financial statements, and it intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2024.
Maximum Amount Of Income Tax Benefits Percentage Realized Upon Ultimate Settlement	50.00%

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jan. 01, 2022
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	Debt maturities as of January 1, 2022 for the next five years and thereafter are as follows (in thousands): Fiscal Years Ending Amount 2022 (1) $ 1,076 2023 2,190 2024 2,239 2025 2,290 2026 1,187 Thereafter 97,009 Total debt $ 105,991 Unamortized debt issuance costs (574) Long-term debt, net of debt issuance costs $ 105,417 (1) Represents scheduled payments for the remaining six-month period ending July 2, 2022.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jan. 01, 2022
Earnings Per Share [Abstract]
Reconciliation of Denominator and Number of Antidilutive Common Share Awards not Included in Diluted Earnings Per Share Calculation	These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period. Three Months Ended (in thousands, except share and per share information) January 1, 2022 December 26, 2020 Net income $ 587 $ 1,580 Weighted average shares outstanding—basic 10,762 10,760 Effect of dilutive common stock awards 295 625 Weighted average shares outstanding—diluted 11,057 11,385 Net income per share—basic $ 0.05 $ 0.15 Net income per share—diluted $ 0.05 $ 0.14 Antidilutive SARs not included in diluted earnings per share 619 — Six Months Ended (in thousands, except share and per share information) January 1, 2022 December 26, 2020 Net income $ 1,402 $ 3,299 Weighted average shares outstanding—basic 10,762 10,760 Effect of dilutive common stock awards 293 280 Weighted average shares outstanding—diluted 11,055 11,040 Net income per share—basic $ 0.13 $ 0.31 Net income per share—diluted $ 0.13 $ 0.30 Antidilutive SARs not included in diluted earnings per share 619 324

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jan. 01, 2022
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The grant date fair value for the awards granted below were estimated using the Black Scholes option valuation method: August 9, 2021 July 23, 2020 SARs Granted 165,000 155,000 Strike Price $ 7.17 $ 6.94 Fair Value $ 2.73 $ 2.32

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jan. 01, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of January 1, 2022, the aggregate notional amount of the Company’s outstanding foreign currency contracts along with their unrealized gains (losses) are expected to mature as summarized below (in thousands): Quarter Ending Notional Contracts in MXN Notional Contracts in USD Estimated Fair Value April 2, 2022 $ 149,893 $ 7,224 $ 35 July 2, 2022 $ 141,493 $ 6,726 $ 7
Summerized Fair Value of Derivative Instruments in Consolidated Balance Sheets	The following table summarizes the fair value of derivative instruments in the Consolidated Balance Sheet as of January 1, 2022 and July 3, 2021 (in thousands): January 1, 2022 July 3, 2021 Derivatives Designated as Hedging Instruments Balance Sheet Location Fair Value Fair Value Foreign currency forward contracts Other current assets $ 43 $ 3,614 Foreign currency forward contracts Other current liabilities $ (1) $ —
Gain (Loss) of Derivative Instruments in Statement of Operations	The following tables summarize the gain (loss) on derivative instruments, net of tax, on the Consolidated Statements of Income for the three months ended January 1, 2022 and December 26, 2020, respectively (in thousands): Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 1,115 $ 338 $ (1,498) $ (45) Interest rate swap Interest expense (574) — 76 (498) Total $ 541 $ 338 $ (1,422) $ (543) Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 643 $ 2,958 $ (108) $ 3,493 Interest rate swap Interest expense (875) — 76 (799) Total $ (232) $ 2,958 $ (32) $ 2,694 The following tables summarize the gain (loss) on derivative instruments, net of tax, on the Consolidated Statements of Income for the six months ended January 1, 2022 and December 26, 2020, respectively (in thousands): Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ 2,721 $ 562 $ (3,328) $ (45) Interest rate swap Interest expense (649) — 151 (498) Total $ 2,072 $ 562 $ (3,177) $ (543) Derivatives Designated as Hedging Instruments Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) AOCI Balance Effective Effective Portion AOCI Balance Forward contracts Cost of sales $ (759) $ 4,001 $ 251 $ 3,493 Interest rate swap Interest expense (741) (223) 165 (799) Total $ (1,500) $ 3,778 $ 416 $ 2,694

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jan. 01, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the fair value of assets (liabilities) of the Company’s derivatives that are required to be measured on a recurring basis as of January 1, 2022 and July 3, 2021 (in thousands): January 1, 2022 Level 1 Level 2 Level 3 Total Financial Assets: Foreign currency forward contracts $ — $ 43 $ — $ 43 Financial Liabilities: Foreign currency forward contracts $ — $ (1) $ — $ (1) July 3, 2021 Level 1 Level 2 Level 3 Total Financial Assets: Foreign currency forward contracts $ — $ 3,614 $ — $ 3,614

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jan. 01, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Contract Balances A contract asset is recognized when the Company has recognized revenue, but has not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheet and transferred to receivables when the right to payment becomes unconditional. The following table summarizes the activity in the Company’s contract assets during the six months ended January 1, 2022 (in thousands): Contract Assets Beginning balance, July 3, 2021 $ 24,781 Revenue recognized 257,607 Amounts collected or invoiced (256,420) Ending balance, January 1, 2022 $ 25,968
Disaggregation of Revenue	Disaggregation of Revenue The following table presents the Company’s revenue disaggregated for the three and six months ended January 1, 2022 and December 26, 2020 (in thousands): Revenue Recognition Three Months Ended Six Months Ended January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 Over-Time $ 128,126 $ 125,534 $ 257,607 $ 246,370 Point-in-Time 6,330 2,728 9,611 5,099 Total $ 134,456 $ 128,262 $ 267,218 $ 251,469

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jan. 01, 2022
Leases [Abstract]
Lease, Cost	The components of lease cost for the three and six months ended January 1, 2022 were (in thousands): Lease cost Classification Three Months Ended Six Months Ended Operating lease cost Cost of sales $ 1,598 $ 3,031 Operating lease cost Selling, general and administrative expenses $ 250 558 Financing lease cost Cost of sales $ 617 $ 1,051 Financing lease cost Selling, general and administrative expenses $ 17 $ 27 Total lease cost $ 2,482 $ 4,667 Fixed lease cost $ 2,081 $ 3,858 Short-term lease cost $ 401 $ 809 Total lease cost $ 2,482 $ 4,667
Assets and Liabilities, Lessee	Amounts reported in the Consolidated Balance Sheet as of January 1, 2022 were (in thousands, except weighted average lease term and discount rate): January 1, 2022 Operating Leases: Operating lease right of use assets $ 19,068 Operating lease liabilities (1) $ 19,027 Weighted-average remaining lease term (in years) Operating leases 5.50 Weighted-average discount rate Operating leases 4.0 % Financing Leases (2) : Financing lease right of use assets $ 6,656 Financing lease liabilities $ 5,973 Weighted-average remaining lease term (in years) Financing leases 2.64 Weighted-average discount rate Financing leases 8.7 % (1) The current portion of the total operating lease liabilities of $5.4 million is classified under Other Current Liabilities , resulting in $13.7 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet. (2) The total finance lease right of use assets of $6.7 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $2.8 million is classified under Current portion of debt, net, resulting in $3.1 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet. Other information related to leases was as follows (in thousands): Three Months Ended Six Months Ended January 1, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 478 $ 1,924 Financing cash flows used in financing leases $ 676 $ 1,077
Lessee, Operating Lease, Liability, Maturity	Future lease payments under non-cancellable leases as of January 1, 2022 are as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases 2022 (1) $ 2,839 $ 1,412 2023 4,666 2,825 2024 3,811 2,496 2025 3,462 92 2026 2,667 — Thereafter 4,521 — Total undiscounted lease payments 21,966 6,825 Less: present value discount (2,939) (852) Total lease liabilities $ 19,027 $ 5,973

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Detail) - USD ($) $ in Thousands	Jan. 01, 2022	Jul. 03, 2021
Inventory Disclosure [Abstract]
Inventory, Net	$ 157,750	$ 137,329

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($)	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021	Nov. 24, 2020	Aug. 14, 2020
Debt Disclosure [Line Items]
Increase in revolving line of credit				$ 93,000,000
Line of Credit Facility, Amount Outstanding	$ 97,000,000	$ 90,900,000
Additional availability of line of credit	17,300,000	2,100,000
Letters of Credit Outstanding, Amount	300,000	300,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate			552.00%	4.85%
2022 (1)	1,076,000
2023	2,190,000
2024	2,239,000
2025	2,290,000
2026	1,187,000
Thereafter	97,009,000
Total debt	105,991,000
Unamortized debt issuance costs	(574,000)
Long-term debt, net of debt issuance costs	105,417,000
Equipment Term Loan
Debt Disclosure [Line Items]
Debt Instrument, Periodic Payment, Principal	94,000
Long-term debt, net of debt issuance costs	3,800,000	$ 4,200,000		$ 5
JZ Equipment Term Loan (Domain) [Domain]
Debt Disclosure [Line Items]
Debt Instrument, Periodic Payment, Principal	100,000
Long-term debt, net of debt issuance costs	$ 5,200,000		$ 6,000,000
Debt Instrument, Basis Spread on Variable Rate, 2.00% | Line of Credit | Fixed Rate
Debt Disclosure [Line Items]
Variable rate on line of credit facility (percent)	2.50%
Minimum
Debt Disclosure [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	3.25%	3.25%
Maximum
Debt Disclosure [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	5.52%	5.52%

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Foreign tax credits related to future repatriations of earnings	$ 7,400
Estimated Federal And State Income Taxes And Potential Withholding Taxes		$ 700
Gross potential research and development (R&D) tax credit	6,500
Unrecognized tax benefits associated with federal tax credits	2,700
Deferred Tax Assets, Tax Credit Carryforwards	$ 3,800

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation Of Denominator And Number Of Antidilutive Common Share Awards Not Included In Diluted Earnings Per Share Calculation) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Earnings Per Share [Abstract]
Net income	$ 587	$ 1,580	$ 1,402	$ 3,299
Weighted average shares outstanding - basic	10,762	10,760	10,762	10,760
Effect of dilutive common stock options (Shares)	295	625	293	280
Weighted average shares outstanding - Diluted	11,057	11,385	11,055	11,040
Net income per share—diluted	$ 0.05	$ 0.15	$ 0.13	$ 0.31
Net income per share—diluted	$ 0.05	$ 0.14	$ 0.13	$ 0.30
Antidilutive options not included in diluted earnings per share (Shares)	619	0	619	324

Share-Based Compensation (Detai

Share-Based Compensation (Detail) - USD ($)	Aug. 09, 2021	Jul. 24, 2020	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020	Jul. 23, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Share-based Compensation Expense			$ 600,000		$ 600,000
Unrecognized Share-based Compensation, Period for Recognition					2 years 2 months 4 days
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SARs Granted	165,000	155,000
Strike Price	$ 7.17						$ 6.94
Fair Value	$ 2.73	$ 2.32
Share-based Compensation Expense			$ 75,000	$ 51,000	$ 143,000	$ 114,000

Commitments And Contingencies (

Commitments And Contingencies (Detail) - USD ($)	Jan. 01, 2022	Jul. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Warranty reserve	$ 25,000	$ 25,000

Derivative Financial Instrume_3

Derivative Financial Instruments (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020	Oct. 02, 2021	Jul. 03, 2021	Sep. 26, 2020	Aug. 14, 2020	Jun. 27, 2020
Derivative [Line Items]
Derivative, Notional Amount	$ 13,900,000		$ 13,900,000					$ 776,500
Foreign currency forward contracts settled	5,100,000	$ 6,300,000	10,600,000	$ 13,000,000
Net amount of existing losses expected to be reclassified into earnings within the next 12 months	33,000		33,000
Accumulated other comprehensive income	(543,000)		(543,000)			$ 2,072,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,084,000)	2,926,000	(2,615,000)	4,194,000
Designated As Hedging Instrument
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1,422,000)	(32,000)	(3,177,000)	416,000
Accumulated other comprehensive income	(543,000)	2,694,000	(543,000)	2,694,000	$ 541,000	2,072,000	$ (232,000)		$ (1,500,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	338,000	2,958,000	562,000	3,778,000
Equipment Term Loan
Derivative [Line Items]
Derivative, Notional Amount								$ 148,400
Interest rate swap | Designated As Hedging Instrument
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	76,000	76,000	151,000	165,000
Accumulated other comprehensive income	(498,000)	(799,000)	(498,000)	(799,000)	(574,000)	(649,000)	(875,000)		(741,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	0	0	(223,000)
Foreign currency forward contracts | Designated As Hedging Instrument
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1,498,000)	(108,000)	(3,328,000)	251,000
Accumulated other comprehensive income	(45,000)	3,493,000	(45,000)	3,493,000	$ 1,115,000	$ 2,721,000	$ 643,000		$ (759,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 338,000	$ 2,958,000	$ 562,000	$ 4,001,000

Schedule of Derivative Instrume

Schedule of Derivative Instruments (Detail) - USD ($)	Jul. 02, 2022	Apr. 02, 2022	Jan. 01, 2022	Aug. 14, 2020
Derivative [Line Items]
Derivative, Notional Amount			$ 13,900,000	$ 776,500
Subsequent Event [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	$ 7,000	$ 35,000
Mexico, Pesos | Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount	141,493,000	149,893,000
United States of America, Dollars | Subsequent Event [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 6,726,000	$ 7,224,000

Derivative Financial Instrume_4

Derivative Financial Instruments (Summarized Fair Value Of Derivative Instruments In Consolidated Balance Sheets) (Detail) - Foreign currency forward contracts - USD ($) $ in Thousands	Jan. 01, 2022	Jul. 03, 2021
Other current assets
Derivative Instruments [Line Items]
Foreign currency forward contracts, Asset Fair Value	$ 43	$ 3,614
Other current liabilities
Derivative Instruments [Line Items]
Foreign currency forward contracts, Liability Fair Value	$ 1	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments (Gain (Loss) Of Derivative Instruments In Statement Of Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020	Oct. 02, 2021	Jul. 03, 2021	Sep. 26, 2020	Jun. 27, 2020
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Accumulated other comprehensive income	$ (543)		$ (543)			$ 2,072
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,084)	$ 2,926	(2,615)	$ 4,194
Designated As Hedging Instrument
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1,422)	(32)	(3,177)	416
Accumulated other comprehensive income	(543)	2,694	(543)	2,694	$ 541	2,072	$ (232)	$ (1,500)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	338	2,958	562	3,778
Foreign currency forward contracts | Designated As Hedging Instrument
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1,498)	(108)	(3,328)	251
Accumulated other comprehensive income	(45)	3,493	(45)	3,493	1,115	2,721	643	(759)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	338	2,958	562	4,001
Interest rate swap | Designated As Hedging Instrument
Derivatives used in Net Investment Hedge, Net of Tax [Roll Forward]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	76	76	151	165
Accumulated other comprehensive income	(498)	(799)	(498)	(799)	$ (574)	$ (649)	$ (875)	$ (741)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 0	$ 0	$ 0	$ (223)

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured At Fair Value On Recurring Basis) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jan. 01, 2022	Jul. 03, 2021
Foreign currency forward contracts
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, Fair Value Disclosure	$ 43	$ 3,614
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1
Foreign currency forward contracts | Fair Value, Inputs, Level 1 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, Fair Value Disclosure	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Foreign currency forward contracts | Fair Value, Inputs, Level 2 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, Fair Value Disclosure	43	3,614
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1
Foreign currency forward contracts | Fair Value, Inputs, Level 3 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, Fair Value Disclosure	0	$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 0
Debt Instrument, Basis Spread on Variable Rate, 2.00% | Fixed Rate | Line of Credit
Fair Value, Option, Quantitative Disclosures [Line Items]
Variable rate on line of credit facility (percent)	2.50%

Revenue Contract with Customer,

Revenue Contract with Customer, Asset and Liability (Detail) $ in Thousands	6 Months Ended
	Jan. 01, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Beginning balance, June 30, 2019	$ 24,781
Revenue recognized	257,607
Amounts collected or invoiced	(256,420)
Ending balance, January 1, 2022	$ 25,968

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Dec. 26, 2020	Jan. 01, 2022	Dec. 26, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 134,456	$ 128,262	$ 267,218	$ 251,469
Over-Time
Disaggregation of Revenue [Line Items]
Net sales	128,126	125,534	257,607	246,370
Point-in-Time
Disaggregation of Revenue [Line Items]
Net sales	$ 6,330	$ 2,728	$ 9,611	$ 5,099

Leases (Detail)

Leases (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Jan. 01, 2022USD ($)	Jan. 01, 2022USD ($)
Lessee, Lease, Description [Line Items]
Lease, Cost	$ 2,482	$ 4,667
Variable Lease, Cost	2,081	3,858
Short-term Lease, Cost	$ 401	$ 809
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	10 years	10 years
Cost of Sales
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	$ 1,598	$ 3,031
Finance Lease, Right-of-Use Asset, Amortization	617	1,051
Selling, General and Administrative Expenses
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	250	558
Finance Lease, Right-of-Use Asset, Amortization	$ 17	$ 27

Assets and Liabilities, Lessee

Assets and Liabilities, Lessee (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jan. 01, 2022	Jan. 01, 2022	Dec. 26, 2020	Jul. 03, 2021
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets, net	$ 19,068,000	$ 19,068,000		$ 15,745,000
Total lease liabilities	$ 19,027,000	$ 19,027,000
Operating Lease, Weighted Average Remaining Lease Term	5 years 6 months	5 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.00%	4.00%
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 6,656,000	$ 6,656,000
Finance Lease, Weighted Average Remaining Lease Term	2 years 7 months 20 days	2 years 7 months 20 days
Finance Lease, Weighted Average Discount Rate, Percent	8.70%	8.70%
Operating Lease, Payments	$ 478,000	$ 1,924,000
Finance Lease, Principal Payments	676,000	1,077,000	$ 0
Finance Lease, Liability	5,973,000	5,973,000
Other current liabilities
Lessee, Lease, Description [Line Items]
Total lease liabilities	5,400,000	5,400,000
Other Long Term Liabilities
Lessee, Lease, Description [Line Items]
Total lease liabilities	$ 13,700,000	$ 13,700,000

Lessee, Operating Lease, Liabil

Lessee, Operating Lease, Liability, Maturity (Detail)	Jan. 01, 2022USD ($)
Lessee, Operating Lease, Liability, Maturity [Abstract]
2022 (1)	$ 2,839,000
2023	4,666,000
2024	3,811,000
2025	3,462,000
2026	2,667,000
Thereafter	4,521,000
Lessee, Operating Lease, Liability, to be Paid, Total	21,966,000
Less: present value discount	(2,939,000)
Operating Lease, Liability, Total	19,027,000
2022 (1)	1,412,000
2023	2,825,000
2024	2,496,000
2025	92,000
2026	0
Thereafter	0
Finance Lease, Liability, Payment, Due	6,825,000
Finance Lease, Liability, Undiscounted Excess Amount	(852,000)
Finance Lease, Liability	$ 5,973,000