ARC Group Worldwide (ARCW) 10-Q 12 Feb 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 29, 2013	Feb. 10, 2014
Document And Entity Information	'	'
Entity Registrant Name	'ARC Group Worldwide, Inc.	'
Entity Central Index Key	'0000826326	'
Trading Symbol	'ARCW	'
Document Type	'10-Q	'
Document Period End Date	29-Dec-13	'
Current Fiscal Year End Date	'--06-30	'
Amendment Flag	'false	'
Entity Filer Category	'Smaller Reporting Company	'
Entity a Well-known Seasoned Issuer	'No	'
Entity a Voluntary Filer	'No	'
Entity Reporting Status Current	'Yes	'
Entity Common Stock Shares Outstanding	'	5,869,282
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Income Statement [Abstract]	'	'	'	'
Sales	$19,942	$17,404	$38,342	$30,731
Cost of sales	13,610	13,092	26,387	22,754
Gross Profit	6,332	4,312	11,955	7,977
Operating Expense:	'	'	'	'
Selling, general and administrative	3,780	3,151	7,502	5,372
Merger expenses	'	'	'	1,637
Income from Operations	2,552	1,161	4,453	968
Other Income (Expense):	'	'	'	'
Other income (expense)	7	-9	7	24
Gain on bargain purchase	'	'	'	381
Interest expense, net	-293	-225	-499	-392
Total other income (expense)	-286	-234	-492	13
Income before Income Taxes	2,266	927	3,961	981
Current and deferred income tax expense	-690	'	-1,076	'
Earnings from continuing operations	1,576	927	2,885	981
Loss from discontinued operations, net of taxes of $0	'	-88	'	-157
Net Income (Loss)	1,576	839	2,885	824
Less: Net Income (Loss) Attributable to Non-Controlling Interest	61	47	117	120
Net Income Attributable to ARC Group Worldwide, Inc	1,515	792	2,768	704
Amounts Attributable to ARC Group Worldwide, Inc.	'	'	'	'
Net Income from Continuing Operations	1,515	870	2,768	845
Net Income (Loss) from Discontinued Operations	'	-78	'	-141
Net Income Attributable to ARC Group Worldwide, Inc	$1,515	$792	$2,768	$704
Net Income (Loss) per Common Share:	'	'	'	'
Continuing operations (net of non-controlling interest) (in dollars per share)	$0.26	$0.15	$0.48	$0.16
Discontinued operations (net of non-controlling interest) (in dollars per share)	'	($0.01)	'	($0.03)
Basic and diluted (in dollars per share)	$0.26	$0.14	$0.48	$0.13
Weighted Average Common Shares Outstanding:	'	'	'	'
Basic and diluted (in share)	5,877,314	5,672,618	5,802,727	5,322,488

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Income Statement [Abstract]	'	'	'	'
Discontinued operations, tax expense	$0	$0	$0	$0

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 29, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$5,534	$3,601
Accounts receivable, net	10,501	10,636
Inventories, net	11,716	10,780
Prepaid and other current assets	1,235	1,012
Current assets of discontinued operations	'	262
Total current assets	28,986	26,291
Property and Equipment, net	23,405	24,051
Long-Term Assets:	'	'
Goodwill	11,497	11,497
Intangible assets, net	4,370	4,622
Other	195	211
Total long-term assets	16,062	16,330
Total Assets	68,453	66,672
Current Liabilities:	'	'
Accounts payable	5,532	5,496
Accrued expenses	3,244	2,265
Due to related party	20	20
Deferred revenue	1,011	1,103
Current portion of long-term debt	6,199	7,410
Current liabilities of discontinued operations	'	7
Total current liabilities	16,006	16,301
Long-Term Liabilities:	'	'
Bank debt, noncurrent	6,887	8,788
Convertible debt, net of discount	16,077	15,866
Total long-term liabilities	22,964	24,654
Total Liabilities	38,970	40,955
Stockholders' Equity:	'	'
Preferred stock, $0.001 par value, 2,000,000 authorized, no shares issued and outstanding	'	'
Common stock, $0.0005 par value, 250,000,000 shares authorized, 5,877,683 and 5,672,618 shares issued and 5,869,282 and 5,672,618 outstanding at December 29, 2013 and June 30, 2013, respectively	3	3
Treasury stock, at cost	-94	-1
Additional paid-in capital	14,293	13,280
Note Receivable from Related Party	'	-272
Accumulated earnings	14,395	11,627
Non-Controlling Interest	886	1,080
Total Stockholders' Equity	29,483	25,717
Total Liabilities and Stockholders' Equity	$68,453	$66,672

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Dec. 29, 2013	Jun. 30, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, authorized	2,000,000	2,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	5,877,683	5,672,618
Common stock, outstanding	5,869,282	5,672,618

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012
Cash Flows from Operating Activities	'	'
Net Income	$2,885	$824
Loss from Discontinued Operations	'	157
Income from continuing operations	2,885	981
Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by (Used In) Operating Activities	'	'
Depreciation and Amortization	1,790	1,330
Gain on Bargain Purchase	'	-381
Amortization of Debt Discount	211	'
(Gain) on Disposition of Assets	'	-5
Bad Debt Expense	59	'
Share-Based Compensation	779	'
(Increase) Decrease in Assets	'	'
Accounts Receivable	526	1,202
Related Party Receivable	'	205
Inventory	-936	67
Prepaid Expenses and Other Assets	-200	-162
Other Long-Term Assets	'	-101
Increase (Decrease) in Liabilities	'	'
Accounts Payable	30	-1,178
Other Accrued Expenses	978	93
Related Party Payable	'	-346
Deferred Revenue	-92	-43
Net Cash Provided by Operating Activities of Continuing Operations	6,030	1,662
Net Cash Used In Operating Activities of Discontinued Operations	'	-142
Net Cash Provided by Operating Activities	6,030	1,520
Cash Flows from Investing Activities	'	'
Net Assets Acquired in the QMT and AFT Acquisitions	'	-25,122
Net Cash Acquired in the QMT and AFT Acquisitions	'	11,325
Investment in Plant and Equipment	-892	-216
Proceeds from Sale on Assets	'	142
Cash Received in Reverse Merger	'	451
Net Cash Used In Investing Activities	-892	-13,420
Cash Flows from Financing Activities	'	'
Proceeds from Issuance of Debt	'	25,000
Principal Payments on Debt	-3,112	-11,788
Payment on Capital Lease Obligations	'	-9
Repurchase of Shares	-93	-1
Distribution Payments to Non-controlling Interest Members	'	-29
Distributions to Members	'	-540
Net Cash Provided by (Used in) Financing Activities	-3,205	12,633
Net Increase in Cash and Cash Equivalents	1,933	733
Cash and Cash Equivalents, Beginning of Period	3,601	1,448
Cash and Cash Equivalents, End of Period	5,534	2,181
Supplemental Disclosures of Cash Flow Information	'	'
Cash Paid During the Year for Interest	288	361
Non-Cash Transactions	'	'
Stock Issued in the Reverse Merger	'	10,225
Convertible Debt Issued in AFT Acquisition	'	17,600
Termination of Note Receivable from Related Party	$272	'

BASIS_OF_PRESENTATION_AND_SUMM

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 29, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE A – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation/Principles of Consolidation
	The accompanying Condensed Consolidated Financial Statements of ARC Group Worldwide, Inc. and Subsidiaries (together, the “Company” or “ARC”) have been prepared in conformity with accounting principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates and assumptions, which could differ materially from actual results. In addition, certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed, or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the financial statements include all adjustments (which are of a normal and recurring nature) necessary for the fair presentation of the results of the interim periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013.
	The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The Company’s fiscal year begins July 1 and ends June 30; the quarters for interim reporting consist of thirteen weeks, therefore, the quarter end will not always coincide with the date of the calendar month.
	Prior to August 8, 2012, the Company operated as a diversified manufacturing holding company active in metal injection molding, specialty hermetic seals, and flanges & fittings and operated under two reportable business segments:
		·	Precision Components Group, consisting of FloMet and Tekna Seal, and
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit.
	Subsequent to the Acquisitions on August 8, 2012 (as defined below), the Company operates three business segments, with an addition of a fourth business segment, the 3DMT Group, established during the second quarter of fiscal year 2014:
		·	Precision Components Group, consisting of FloMet, AFT-US, AFT-Hungary, and Tekna Seal;
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit;
		·	Wireless Group, consisting of ARC Wireless LLC and ARC Wireless Ltd; and
		·	3DMT Group, consisting of 3D Material Technologies and the tooling product line.
	During the third quarter of fiscal year 2013, the Company made the decision to discontinue the operations of TubeFit, which was previously included within its Flanges & Fittings segment. Consequently, the Company has classified the results of operations of TubeFit as a discontinued operation for all periods presented.
	Significant Business Acquisitions
	On August 8, 2012, ARC completed the acquisitions of QMT and AFT (referred to herein as the “QMT Acquisition” and the “AFT Acquisition” and collectively, the “Acquisitions”).
	For reasons detailed below, the accompanying financial statements include the results of operations of ARC, QMT, and AFT for periods subsequent to the Acquisitions; for periods prior to the Acquisitions, the results of operations are presented only for QMT.
	The QMT Acquisition
	Effective August 8, 2012, the Company issued common stock in exchange for 100% of the issued and outstanding membership interest of QMT (equal to 4,029,700 shares of ARC’s common stock after giving effect to the 1:1.95 reverse stock split). The QMT Acquisition was accounted for as a reverse acquisition under generally accepted accounting principles, whereby QMT was deemed to be the accounting acquirer in the acquisition. The shares of common stock issued to QMT pursuant to the merger are presented as having been outstanding since July 1, 2011.
	As a result, the financial statements for periods prior to August 8, 2012 reflect only the operations of QMT. The accompanying financial statements present the previously issued shares of ARC common stock as having been issued pursuant to the merger on August 8, 2012. All transactions between divisions and/or wholly owned subsidiaries of the Company have been eliminated in the financial statements.
	In connection with the QMT Acquisition, the Company sold 57,505 shares of ARC’s Common Stock (after giving effect to the 1:1.95 reverse stock split) to Carret P.T., LP in consideration for a cash investment in ARC of $449 thousand. The purchase price for the reverse acquisition of $10.2 million was derived from the ARC common stock equal to 1,585,413 shares (after giving effect to the 1:1.95 reverse stock split) at the August 8, 2012 stock price.
	With regard to the assets acquired during the reverse merger of ARC by QMT, ARC’s historical accumulated deficit for periods prior to August 8, 2012, in the amount of $10.2 million was eliminated against additional paid in capital. The acquisition was accounted for using the purchase method of accounting and, accordingly, the Company’s consolidated balance sheet as of June 30, 2013, includes the impact of the acquisition.
	The AFT Acquisition
	Effective August 8, 2012, the Company acquired all shares of AFT and the net assets of AFT for approximately $40.6 million. The AFT Acquisition was completed through the payment of cash totaling $7.1 million, less post-closing adjustments of ($0.1) million, bank facility funds of $18.1 million, and a convertible note net of interest discount with Precision Castparts Corp. of $15.5 million, net of discount.
	The total adjusted purchase price of AFT was allocated to the tangible and intangible assets acquired based upon their respective fair values at the acquisition date, with the excess purchase price allocated to goodwill for AFT in the amount of $4.7 million. The goodwill arising from the AFT Acquisition consists of synergies and economies of scale expected from the QMT and AFT Acquisitions. The goodwill recognized is expected to be deductible for income tax purposes. For AFT, third party consultants were retained to perform valuation techniques to establish valuation for property and equipment, and identifiable intangible assets. For ARC, the fair value of the identifiable assets acquired and liabilities assumed of $10.6 million exceeded the fair value of the purchase price of the business of $10.2 million. As a result, the Company reassessed the recognition and measurement of identifiable assets acquired and liabilities assumed and concluded that the valuation procedures and resulting measures were appropriate. Accordingly, the ARC reverse acquisition has been accounted for as a bargain purchase and, as a result, the Company recognized a gain of $0.4 million associated with the reverse acquisition. The gain is included in the line item “Gain on bargain purchase” in the 2013 Consolidated Statement of Operations.
	Pro forma Financial Information (Unaudited)
	The historical operating results of ARC and AFT have not been included in the Company's historical consolidated operating results prior to their acquisition dates. The following unaudited pro forma information presents the combined results of continuing operations for the three and six months ended December 30, 2012 as if the acquisition had been completed on July 1, 2012.
	(In thousands, except per share data)		Three Month Period Ended			Six Month Period Ended
			30-Dec-12			30-Dec-12
	Revenue		$	17,404		$34,174
	Income from continuing operations			870		128
	Loss from discontinued operations			(78	)	-141
	Net income (loss)		$	792		($13)
	Income per common share for continuing operation			0.15		0.02
	Loss per common share for      discontinued operations			(0.01	)	-0.03
	Basic and diluted net (loss) income  per common share		$	0.14		($0.01)

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Dec. 29, 2013
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
RECENT ACCOUNTING PRONOUNCEMENTS	'
	NOTE B – RECENT ACCOUNTING PRONOUNCEMENTS
	Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU’s) to the FASB’s Accounting Standards Codification.
	The Company considers the applicability and impact of all ASU’s. ASU’s not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations.
	In July 2013, the FASB issued ASU 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a benchmark Interest Rate for Hedge Accounting Purposes,” (“ASU 2013-10”). ASU 2013-10 provides guidance on the risks that are permitted to be hedged in a fair value or cash flow hedge. ASU 2013-10 is effective for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. Adoption of this guidance did not have a significant impact on the determination or reporting of the Company’s financial results.
	In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a New Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” (“ASU 2013-11”). ASU 2013-11 provides guidance to eliminate diversity in practice in the presentation of unrecognized tax benefits in those instances. ASU 2013-11 is effective for annual and interim reporting periods beginning after December 15, 2014 with early adoption permitted. The Company is currently evaluating the impact that the adoption will have on the determination or reporting of its financial results.

INVENTORY

INVENTORY	6 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
INVENTORY	'
	NOTE C – INVENTORY
	Inventories consisted of the following (in thousands):
		December 29,		June 30,
		2013		2013
	Raw Materials and Supplies	$	3,396	$	3,172
	Work In Process		4,986		4,772
	Finished Goods		3,744		3,222
			12,126		11,166
	Less: Reserve for Obsolescence		410		386
		$	11,716	$	10,780

PLANT_and_EQUIPMENT

PLANT and EQUIPMENT	6 Months Ended
	Dec. 29, 2013
Property, Plant and Equipment [Abstract]	'
PLANT and EQUIPMENT	'
	NOTE D – PLANT and EQUIPMENT
	Plant and equipment consisted of the following (in thousands):
		December 29,		June 30,
		2013		2013
	Land	$	1,197	$	1,197
	Building and Improvements		12,893		12,859
	Machinery and Equipment		18,247		18,277
	Office Equipment		778		766
	Leasehold Improvements		65		65
	Automobiles		186		186
	Construction in Process		1,051		281
			34,417		33,631
	Less: Accumulated Depreciation		11,012		9,580
		$	23,405	$	24,051

LONGTERM_DEBT

LONG-TERM DEBT	6 Months Ended
	Dec. 29, 2013
Long-term Debt, Unclassified [Abstract]	'
LONG-TERM DEBT	'
	NOTE E – LONG-TERM DEBT
	Long-term debt payable consists of the following:
	On August 8, 2012, QMT entered into an agreement with TD Bank, N.A. for a $25.0 million credit facility to fund the purchase of Precision Castparts Corp.’s (“PCC”) interest in Advanced Forming Technology Inc. and AFT-Hungary Kft., and to pay off the balances of outstanding loans held as of that date.
	The Credit facility is described in the first four items below. Unless otherwise noted, interest rate for the Credit facility below is variable and can range from one month LIBOR plus 250-300 bps and is determined based on total leverage ratio as measured on a rolling four quarter basis at the end of each fiscal quarter.
		Balance as of
		(in thousands)
		29-Dec-13			30-Jun-13
	Revolving line of credit not to exceed $10.0 million with a maturity date of August 8, 2015; collateralized by accounts receivable and inventory; the amount available from this line is determined by a monthly borrowing base, at December 29, 2013. Interest is accrued and payable monthly.	$	1,658		$	2,868
	Term Loan A in the amount of $3.6 million, collateralized by equipment payable in equal monthly payments of $60 thousand plus accrued interest, with a maturity date of August 8, 2017.		2,649			3,010
	Term Loan B (commercial mortgage) in the amount of $5.5 million payable in equal monthly installments of $18 thousand plus accrued interest with maturity date of August 8, 2022, with a five year call option.		5,179			5,288
	Term Bridge Loan in the amount of $6.9 million with interest only payments for the first 6 months and 23 monthly principal payments of $300 thousand plus interest with maturity date of February 8, 2015.		3,600			5,032
	Subtotal	$	13,086		$	16,198
	Convertible Note Payable to PCC in the amount of $17.6 million; due at 8/8/2017; interest is equal to the Five-Year U.S. Treasury Note Constant Maturity rate adjusted on each anniversary and is paid on a quarterly basis; this Note is subordinated to the first priority security interest of TD Bank, N.A. Subject to certain terms of the agreement the Holder has the option to convert outstanding principal and unpaid interest into shares of the Company’s Common Stock.	$	17,600		$	17,600
	Convertible note interest discount(1)		(1,523	)		(1,734	)
	Convertible note, net of discount		16,077			15,866
	Total Long-Term Debt from Continuing Operations		29,163			32,064
	Less: Current Portion from Continuing Operations		(6,199	)		(7,410	)
	Total Long-Term Debt Less Current Portion	$	22,964		$	24,654
	(1)     The interest discount represents the difference between the actual negotiated interest rate being the Five-Year U.S. Treasury Note Constant Maturity rate, and the Company’s assumption of market rate of 4%. The total interest discount calculated was $2.1 million, which is amortized over the life of the note. The fiscal year 2014 non-cash interest discount amortization reduces the interest discount balance by $211 thousand, resulting in an ending balance as of December 29, 2013 of $1.5 million.
	Maturities on notes payable and Line of Credit are due as follows using our fiscal year end:
	2014		$	3,928
	2015			2,742
	2016			941
	2017			17,019
	2018			339
	2019 – 2022			4,193
	Total		$	29,162
	An economic hedging instrument was acquired through TD Bank, N.A. to synthetically convert the floating rate to an indicative fixed rate on 50% of the notional amounts of Term Loan A and Term Loan B for a term of five years. Fixed rate through a derivative swap was locked in at the time the swap was executed; the swap is discussed in Note F.
	Certain loans are subject to financial and non-financial covenants established by TD Bank, N.A.; compliance is determined on an annual basis using audited and consolidated financial statements. As of the quarter ended December 29, 2013 and year ended June 30, 2013, the Company was in compliance with all covenants.

DERIVATIVES_AND_HEDGING_ACTIVI

DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Dec. 29, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
DERIVATIVES AND HEDGING ACTIVITIES	'
	NOTE F - DERIVATIVES AND HEDGING ACTIVITIES
	Pay Fixed, Receive-Variable Interest Rate Swaps
	Objective of the swaps: QMT entered into two separate pay-fixed, receive-variable interest rate swaps with the objective of eliminating the variability in the Company’s interest expense on 50% of its $3,612 thousand Term Loan (the “Term Loan A”) and of its $5,470 thousand Term Loan (the “Term Loan B”) attributable to changes in one month LIBOR*. The Term Loans were made pursuant to the Loan and Security Agreement (the “Agreement”) dated August 8, 2012 between QMT and TD Bank, N.A.
	The terms of the outstanding swaps as December 29, 2013 were as follows:
	Associated Debt	Notional Amount (thousands)	Effective Date	Fixed Rate Paid	Variable Rate Received	Fair Value (thousands)	Swap Termination Date
	Term Loan A	$1,324	8-Aug-12	0.85%	LIBOR*	$4	8-Aug-17
	Term Loan B	$2,589	8-Aug-12	1.10%	LIBOR*	$2	8-Aug-17
	*One month London Interbank Offered Rate
	The Company estimated the fair value of these instruments based on a market position at close of business December 29, 2013 and on such basis determined the fair value to be $6 thousand.
	Termination of Swap prior to maturity will be settled at market value and may result in a payment to or from borrower determined at the time of termination.

CUSTOMER_AND_SUPPLIER_CONCENTR

CUSTOMER AND SUPPLIER CONCENTRATION RISK	6 Months Ended
	Dec. 29, 2013
Risks and Uncertainties [Abstract]	'
CUSTOMER AND SUPPLIER CONCENTRATION RISK	'
	NOTE G – CUSTOMER AND SUPPLIER CONCENTRATION RISK
	The Company had sales to four customers for the six months ended December 29, 2013 and December 30, 2012, respectively, which represented approximately 42.6% and 41.4% of our sales. The concentration of the Company’s business with a relatively small number of customers may expose us to a material adverse effect if one or more of these large customers were to experience financial difficulty or were to cease being customer for non-financial related issues. The Company sells a majority of its products in the Precision Components Group for use in medical and dental devices, firearms, automotive uses, aerospace components, consumer durables, and electronic devices.
	As of December 29, 2013 and June 30, 2013, these customers represented approximately 32.2% and 35.6%, respectively, of our net trade accounts receivable.
	As of December 29, 2013 and June 30, 2013, respectively, there was no concentration in the volume of business above 5% transacted with a particular supplier for which the Company had no alternative sources of supply.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	NOTE H – EARNINGS PER SHARE
	Basic earnings (loss) per share includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share, reflects the potential dilution of securities that could share in the earnings of the entity. As of December 29, 2013 the Company had no outstanding stock options, therefore there was no computation of effect of dilutive securities. In addition, there was no effect of the convertible debt to the dilutive calculation since the non-market based contingency had not been met.
	The following table represents a reconciliation of the shares used to calculate basic and diluted earnings (loss) per share for the respective periods indicated (in thousands, except per share amounts):
		For the Three Months Ended
		December 29,						December 30,
		2013						2012
		Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
	Basic EPS:
	Net Earnings from Continuing Operations	$	1,515		5,877	$	0.26	$	870			5,673	$	0.15
	Net Loss from Discontinued Operations		—		5,877		—		(78	)		5,673		(0.01	)
	Effect of Dilutive Securities		—		—		—		—			—		—
	Employee stock options		—		—		—		—			—		—
	Basic and Diluted earnings per share	$	1,515		5,877	$	0.26	$	792			5,673	$	0.14
		For the Six Months Ended
		December 29,						December 30,
		2013						2012
		Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
	Basic EPS:
	Net Earnings from Continuing Operations	$	2,768		5,803	$	0.48	$	845			5,322	$	0.16
	Net Loss from Discontinued Operations		—		5,803		—		(141	)		5,322		(0.03	)
	Effect of Dilutive Securities		—		—		—		—			—		—
	Employee stock options		—		—		—		—			—		—
	Basic and Diluted earnings per share	$	2,768		5,803	$	0.48	$	704			5,322	$	0.13

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Dec. 29, 2013
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	NOTE I - INCOME TAXES
	The current income tax provision for the three and six months ended December 29, 2013 is $580 thousand and $847 thousand, respectively. In addition, for the three and six months ended December 29, 2013, local foreign taxes paid were $110 thousand and $229 thousand, respectively. There was no income tax provision for the three and six months ended December 30, 2012.
	Goodwill recorded as part of an asset purchase agreement is deductible for tax purposes and only recorded as a book charge if it is impaired. A deferred tax liability is recorded as the tax deduction is realized, which will not be reversed unless and until the goodwill is disposed of or impaired. The Company will continue to record an income tax expense related to the amortization of goodwill as a discrete item each quarter unless and until such impairment occurs.
	As of December 29, 2013, our net deferred tax assets of $4,316 thousand are fully offset by a valuation allowance. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not.
	Based upon the weight of available evidence, which includes historical operating performance and uncertainties in forecasting our future results, we provided a full valuation allowance against our net U.S. deferred tax assets and a full valuation allowance against certain foreign deferred tax assets. The Company will reassess the need for a valuation allowance on a quarterly basis. A subsequent determination that the valuation allowance should be reduced would generally result in a benefit to the income tax provision.

SEGMENT_INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 29, 2013
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	NOTE J – SEGMENT INFORMATION
	Prior to August 8, 2012, the Company operated as a diversified manufacturing holding company active in metal injection molding, specialty hermetic seals, and flanges & fittings and operated under two reportable business segments:
		·	Precision Components Group, consisting of FloMet and Tekna Seal; and
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit.
	Subsequent to the Acquisitions on August 8, 2012, the Company operates three business segments, with an addition of a fourth business segment, the 3DMT Group, established during the second quarter of fiscal year 2014:
		·	Precision Components Group, consisting of FloMet, AFT-US, AFT-Hungary, and Tekna Seal;
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit;
		·	Wireless Group, consisting of ARC Wireless LLC and ARC Wireless Ltd; and
		·	3DMT Group, consisting of 3D Material Technologies and the tooling product line.
	The 3DMT Group was strategically established in the second quarter of fiscal 2014 to meet customer needs of reducing costs and accelerating the “time to market” through rapid prototyping, short run production, and specialized tooling. The segment currently consists of the newly established 3D Material Technologies entity and the existing tooling product line. Reclassifications of the existing tooling product line from the Precision Components Group have been made to current and prior year amounts to conform to the current year presentation. The 3DMT Group’s three and six months ending reported sales for current and prior year periods are reflective of the tooling product line.
	During the third quarter of fiscal year 2013, the Company made the decision to discontinue the operations of TubeFit, which was previously included within its Flanges & Fittings segment. Consequently, the Company has classified the results of operations of TubeFit as a discontinued operation for all periods presented. Summarized segment information for our four continuing segments for the three and six months ended December 29, 2013 and December 30, 2012 is as follows:
			For the Six Months Ended
			(in thousands)
			29-Dec-13			30-Dec-12
	Net sales:
	Precision Components Group		$	31,993		$	25,075
	Flanges and Fittings Group			2,597			3,364
	Wireless Group			1,580			958
	3DMT Group			2,172			1,334
	Consolidated net sales		$	38,342		$	30,731
	Operating Costs:
	Precision Components Group			26,454			21,945
	Flanges and Fittings Group			2,435			3,037
	Wireless Group			1,183			1,171
	3DMT Group			1,530			906
	Consolidated Operating Costs		$	31,602		$	27,059
	Segment operating income/(loss) from continuing operations:
	Precision Components Group			5,539			3,130
	Flanges and Fittings Group			162			327
	Wireless Group			397			(213	)
	3DMT Group			642			428
	Corporate Expense			(2,287	)		(2,704	)
	Total segment operating income from continuing operations		$	4,453		$	968
	Interest expense, net			(499	)		(392	)
	Gain on bargain purchase			—			381
	Other non-operating income(expense)			7			24
	Non- Operating Income (Expenses)		$	(492	)	$	13
	Consolidated income from continuing operations before income tax expense and non-controlling interest		$	3,961		$	981
			For the Three Months Ended
			(in thousands)
			29-Dec-13			30-Dec-12
	Net sales:
	Precision Components Group		$	16,868		$	14,386
	Flanges and Fittings Group			1,336			1,701
	Wireless Group			893			584
	3DMT Group			845			733
	Consolidated net sales		$	19,942		$	17,404
	Operating Costs:
	Precision Components Group			14,033			12,661
	Flanges and Fittings Group			1,246			1,574
	Wireless Group			685			784
	3DMT Group			599			492
	Consolidated Operating Costs		$	16,563		$	15,511
	Segment operating income (loss) from continuing operations:
	Precision Components Group			2,835			1,725
	Flanges and Fittings Group			90			127
	Wireless Group			208			(200	)
	3DMT Group			246			241
	Corporate Expense			(827	)		(732	)
	Total segment operating income from continuing operations		$	2,552		$	1,161
	Interest expense, net			(293	)		(225	)
	Gain on bargain purchase			—			—
	Other non-operating income(expense)			7			(9	)
Non- Operating Income (Expenses)		$	(286	)	$	(234	)
Consolidated income from continuing operations before income tax expense and non-controlling interest		$	2,266		$	927
Fiscal Quarter ending:		29-Dec-13			30-Dec-12
Capital Expenditures:
Precision Components Group		$	882		$	211
Flanges and Fittings Group			10			5
Wireless Group						—
3DMT Group			—			—
Consolidated Capital Expenditures		$	892		$	216
Six Months ending:		29-Dec-13			30-Dec-12
Depreciation and Amortization Expense:
Precision Components Group		$	1,697		$	1,239
Flanges and Fittings Group			52			50
Wireless Group			41			41
3DMT Group			—			—
Consolidated Depreciation and Amortization Expense		$	1,790		$	1,330

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 29, 2013
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	NOTE K – RELATED PARTY TRANSACTIONS
	Quadrant Management Inc. and Everest Hill Group Inc. (formerly known as Brean Murray Carret Group, Inc.)
	ARC, Everest Hill Group Inc. (“Everest Hill Group”), Quadrant Management Inc. ("QMI"), and Quadrant Metals Technologies LLC (“QMT”) are under common control. Prior to the Acquisitions, QMI, through Everest Hill Group, owned 74.0% of the membership interests of QMT. As a result of the Acquisitions, Everest Hill Group became the controlling shareholder of ARC. Specifically, Everest Hill Group controls 100% of the ownership interests of QMI, as well as, via certain wholly-owned intermediaries, 61.5% of the shares of ARC.
	In addition, the following officers and directors of ARC are also affiliated with QMI and Everest Hill Group:
		·	Mr. Jason Young, the Company’s Chairman and Chief Executive Officer, has been a Managing Director at QMI since 2005, where he is responsible for making investments in US and emerging market companies, and where he frequently serves in active management or director-level roles.
		·	Mr. Theodore Deinard, who served as the Company’s Interim Chief Executive Officer and as a director of the Company until he resigned as the Interim Chief Executive Officer of the Company and as a member of the Company’s Board of Directors on April 29, 2013, is a Managing Director of QMI and serves as Chief Executive Officer of ARC Wireless, Inc. Mr. Deinard is also related by marriage to an officer of QMI.
		·	Mr. Young and Mr. Deinard are each deemed to share voting and investment power over the shares beneficially owned by Everest Hill Group.
		·	Mr. Jason Young and Mr. Alan Quasha, an officer of QMI, each serve on the Board of Directors of QMT and receive fees for such services.
	Pursuant to the original terms of the ARC Advisory Agreement entered into on January 21, 2009, (the “ARC Advisory Agreement”), QMI has provided ARC financial advisory and business consulting services, including restructuring services. In consideration for the restructuring services provided by QMI since November 2008 and for ongoing services, ARC originally agreed to pay QMI the following compensation
		-1	An initial cash fee of $250 thousand upon signing the ARC Advisory Agreement;
		-2	An annual fee of the greater of:
		(i)	$250 thousand;
		(ii)	20% of any increase in reported earnings before interest, taxes, depreciation and amortization after adjusting for one-time and non-recurring items (“EBITDA”) for the current financial year over preceding year; or
		(iii)	20% of reported EBITDA for the current financial year; and
		-3	All reasonable out-of-pocket expenses incurred QMI in performing services under the ARC Advisory Agreement.
	The ARC Advisory Agreement provided QMI the right to receive 20% of ARC’s EBITDA, even if such EBITDA is derived from the QMT Acquisition and the AFT Acquisition. However, QMI granted waivers to certain provisions of the ARC Advisory Agreement, (the “Quadrant Waiver”), such that the parties agreed that:
		-1	In calendar year 2012, QMI shall only be paid an annual fee equal to the greater of:
		(i)	$250 thousand;
		(ii)	The product of (a) 20% and (b) the EBITDA of ARC for the twelve months ending December 31, 2012 less the combined EBITDA of QMT and AFT for the twelve months ending February 29, 2012 less the EBITDA of ARC for the twelve months ending December 31, 2011; or
		(iii)	The product of (a) 20% and (b) the reported EBITDA for the financial year of the Company minus the reported EBITDA for QMT and AFT for the twelve months ended February 29, 2012; and
		-2	In calendar year 2013, QMI shall only be paid an annual fee equal to the greater of:
		(i)	$250 thousand;
		(ii)	The product of (a) 20% and (b) the EBITDA of ARC for the twelve months ending December 31, 2013 less the EBITDA of ARC for the twelve months ending December 31, 2012; or
		(iii)	The product of (a) 20% and (b) the reported EBITDA for the financial year of the Company minus the reported EBITDA for QMT and AFT for the twelve months ended February 29, 2012.
	During the period covered by this Report, the ARC Advisory Agreement was revised, so that following its expiration on December 31, 2013, there would be no automatic extensions for additional one-year periods in the absence of a written termination notice by either party.
	In consideration for granting the foregoing waiver, and in consideration for substantial merger and acquisition support services rendered to ARC over the past several years, QMI and ARC entered into a Letter Agreement pursuant to which ARC agreed to pay QMI transaction fees upon the closing of the QMT and AFT Acquisitions, calculated by reference to 2% of the total enterprise value for the QMT Acquisition and AFT Acquisition. As a result of the Closing of the QMT and AFT Acquisitions on August 8, 2012, a fee of $1.6 million has been paid to QMI.
	In addition, QMI and QMT have entered into a non-exclusive financial advisory agreement, (the “QMT Financial Advisory Agreement”), whereby QMI performs ongoing consulting and advisory services for QMT through QMI personnel (acting at all times as independent contractors to QMT). The scope of such services includes business consulting services, financial advisory services, and other services. In consideration for such services, on April 1, 2012, QMT commenced paying an annual cash fee to QMI of $250 thousand to be paid in quarterly installments. QMT shall reimburse QMI for all reasonable out-of-pocket costs and expenses incurred by QMI in connection with the performance of its services. The QMT-QMI financial advisory agreement continued in effect following the acquisition of QMT by the Company until December 31, 2013 in accordance with the Amendment to the QMT Financial Advisory Agreement.
	As a result of the accounting for the reverse merger, the statement of operations reflect only the fees earned by QMI for financial advisory services provided to QMT prior to August 8, 2012 and subsequent to August 8, 2012, fees earned by QMI for financial advisory services provided to ARC and QMT. Fees earned by QMI for the three months ended December 29, 2013 and December 30, 2012 were $407 thousand and $100 thousand, respectively. Fees earned by QMI for the six months ended December 29, 2013 and December 30, 2012 were $835 thousand and $288 thousand, respectively.
	As of December 29, 2013, QMT owed its members $20 thousand for state income tax withheld on membership distributions.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Dec. 29, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
DISCONTINUED OPERATIONS	'
	NOTE L – DISCONTINUED OPERATIONS
	During the third quarter of fiscal year 2013, the Company made the decision to discontinue operation of TubeFit, which was previously included within its Flanges & Fittings segment. The inventory and equipment were sold in the fourth quarter of fiscal year 2013. The operations of TubeFit have been included in our consolidated statement of operations as discontinued operations for all periods presented. Results for discontinued operations for the three and six months ended December 29, 2013 and December 30, 2012, (in thousands):
		Three Months Ended					Six Months Ended
		December 29,		December 30,			December 29,		December 30,
		2013		2012			2013		2012
	Net sales from discontinued operations	$	—	$	88		$	—	$	243
	Operating loss from discontinued operations	$	—	$	(88	)	$	—	$	(144	)
	Other income (expense)	$	—	$	—		$	—	$	(13	)
	Loss from discontinued operations	$	—	$	(88	)	$	—	$	(157	)
	The following assets and liabilities of TubeFit were segregated into Assets of Discontinued Operations and Liabilities of Discontinued Operations as appropriate in the balance sheet dated December 29, 2013 and June 30, 2013 as follows (in thousands):
		December 29,		June 30,
		2013		2013
	Accounts receivable, net	$	—	$	256
	Prepaid/Other Current Assets	$	—	$	6
	Assets of Discontinued Operations	$	—	$	262
	Accounts payable	$	—	$	6
	Accrued expenses	$	—	$	1
	Liabilities of Discontinued Operations	$	—	$	7

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Dec. 29, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCKBASED COMPENSATION	'
	NOTE M - STOCK BASED COMPENSATION
	The Company issued an equity grant of 145,456 shares of common stock to Mr. Jason Young, approved by the Board of Directors and Compensation Committee of the Board of Directors on August 19th, 2013 as inducement for Mr. Young to accept reappointment as Chief Executive Officer (the “Stock Grant”). The Compensation Committee had concluded that the value date of the Stock Grant would be determined by reference to the closing quoted price of the Company’s common stock on the NASDAQ Stock Market of the immediately preceding trading day, August 16, 2013, which was $4.82 per share. For the first quarter 2014, stock-based compensation expense was recorded in the amount of $701 thousand within “Selling, general, and administrative costs” on the Condensed Consolidated Statement of Operations.

STOCKHOLDERS_EQUITY

STOCKHOLDERS EQUITY	6 Months Ended
	Dec. 29, 2013
Equity [Abstract]	'
STOCKHOLDERS EQUITY	'
	NOTE N – STOCKHOLDERS EQUITY
	The ARC Group Worldwide, Inc. Board of Directors authorized the repurchase of up to $250,000 of the Company’s common stock on October 9, 2013. The stock repurchase program does not obligate ARC to acquire any particular amount of stock. It also does not have an expiration date and may be limited or terminated at any time without notice. In the second quarter of fiscal year 2014 ARC repurchased 8,401 shares as Treasury Stock and accounted for these shares using the Cost Method.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 29, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE O – SUBSEQUENT EVENTS
	ARC Advisory Agreement
	On December 31, 2013, the ARC Advisory Agreement, as described in Note K, terminated.
	Management has evaluated the impact of events occurring after December 29, 2013 up to the date of the filing of these interim unaudited condensed consolidated financial statements. These statements contain all necessary adjustments and disclosures resulting from that evaluation.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 29, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation/Principles of Consolidation	'
	Basis of Presentation/Principles of Consolidation
	The accompanying Condensed Consolidated Financial Statements of ARC Group Worldwide, Inc. and Subsidiaries (together, the “Company” or “ARC”) have been prepared in conformity with accounting principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates and assumptions, which could differ materially from actual results. In addition, certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed, or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the financial statements include all adjustments (which are of a normal and recurring nature) necessary for the fair presentation of the results of the interim periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013.
	The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The Company’s fiscal year begins July 1 and ends June 30; the quarters for interim reporting consist of thirteen weeks, therefore, the quarter end will not always coincide with the date of the calendar month.
	Prior to August 8, 2012, the Company operated as a diversified manufacturing holding company active in metal injection molding, specialty hermetic seals, and flanges & fittings and operated under two reportable business segments:
		·	Precision Components Group, consisting of FloMet and Tekna Seal, and
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit.
	Subsequent to the Acquisitions on August 8, 2012 (as defined below), the Company operates three business segments, with an addition of a fourth business segment, the 3DMT Group, established during the second quarter of fiscal year 2014:
		·	Precision Components Group, consisting of FloMet, AFT-US, AFT-Hungary, and Tekna Seal;
		·	Flanges and Fittings Group, consisting of GF&F and TubeFit;
		·	Wireless Group, consisting of ARC Wireless LLC and ARC Wireless Ltd; and
		·	3DMT Group, consisting of 3D Material Technologies and the tooling product line.
	During the third quarter of fiscal year 2013, the Company made the decision to discontinue the operations of TubeFit, which was previously included within its Flanges & Fittings segment. Consequently, the Company has classified the results of operations of TubeFit as a discontinued operation for all periods presented.
Significant Business Acquisitions	'
	Significant Business Acquisitions
	On August 8, 2012, ARC completed the acquisitions of QMT and AFT (referred to herein as the “QMT Acquisition” and the “AFT Acquisition” and collectively, the “Acquisitions”).
	For reasons detailed below, the accompanying financial statements include the results of operations of ARC, QMT, and AFT for periods subsequent to the Acquisitions; for periods prior to the Acquisitions, the results of operations are presented only for QMT.
	The QMT Acquisition
	Effective August 8, 2012, the Company issued common stock in exchange for 100% of the issued and outstanding membership interest of QMT (equal to 4,029,700 shares of ARC’s common stock after giving effect to the 1:1.95 reverse stock split). The QMT Acquisition was accounted for as a reverse acquisition under generally accepted accounting principles, whereby QMT was deemed to be the accounting acquirer in the acquisition. The shares of common stock issued to QMT pursuant to the merger are presented as having been outstanding since July 1, 2011.
	As a result, the financial statements for periods prior to August 8, 2012 reflect only the operations of QMT. The accompanying financial statements present the previously issued shares of ARC common stock as having been issued pursuant to the merger on August 8, 2012. All transactions between divisions and/or wholly owned subsidiaries of the Company have been eliminated in the financial statements.
	In connection with the QMT Acquisition, the Company sold 57,505 shares of ARC’s Common Stock (after giving effect to the 1:1.95 reverse stock split) to Carret P.T., LP in consideration for a cash investment in ARC of $449 thousand. The purchase price for the reverse acquisition of $10.2 million was derived from the ARC common stock equal to 1,585,413 shares (after giving effect to the 1:1.95 reverse stock split) at the August 8, 2012 stock price.
	With regard to the assets acquired during the reverse merger of ARC by QMT, ARC’s historical accumulated deficit for periods prior to August 8, 2012, in the amount of $10.2 million was eliminated against additional paid in capital. The acquisition was accounted for using the purchase method of accounting and, accordingly, the Company’s consolidated balance sheet as of June 30, 2013, includes the impact of the acquisition.
	The AFT Acquisition
	Effective August 8, 2012, the Company acquired all shares of AFT and the net assets of AFT for approximately $40.6 million. The AFT Acquisition was completed through the payment of cash totaling $7.1 million, less post-closing adjustments of ($0.1) million, bank facility funds of $18.1 million, and a convertible note net of interest discount with Precision Castparts Corp. of $15.5 million, net of discount.
	The total adjusted purchase price of AFT was allocated to the tangible and intangible assets acquired based upon their respective fair values at the acquisition date, with the excess purchase price allocated to goodwill for AFT in the amount of $4.7 million. The goodwill arising from the AFT Acquisition consists of synergies and economies of scale expected from the QMT and AFT Acquisitions. The goodwill recognized is expected to be deductible for income tax purposes. For AFT, third party consultants were retained to perform valuation techniques to establish valuation for property and equipment, and identifiable intangible assets. For ARC, the fair value of the identifiable assets acquired and liabilities assumed of $10.6 million exceeded the fair value of the purchase price of the business of $10.2 million. As a result, the Company reassessed the recognition and measurement of identifiable assets acquired and liabilities assumed and concluded that the valuation procedures and resulting measures were appropriate. Accordingly, the ARC reverse acquisition has been accounted for as a bargain purchase and, as a result, the Company recognized a gain of $0.4 million associated with the reverse acquisition. The gain is included in the line item “Gain on bargain purchase” in the 2013 Consolidated Statement of Operations.
	Pro forma Financial Information (Unaudited)
	The historical operating results of ARC and AFT have not been included in the Company's historical consolidated operating results prior to their acquisition dates. The following unaudited pro forma information presents the combined results of continuing operations for the three and six months ended December 30, 2012 as if the acquisition had been completed on July 1, 2012.
	(In thousands, except per share data)		Three Month Period Ended Dec 30, 2012			Six Month Period Ended Dec 30, 2012
	Revenue		$	17,404		$34,174
	Income from continuing operations			870		128
	Loss from discontinued operations			(78	)	-141
	Net income (loss)		$	792		($13)
	Income per common share for continuing operation			0.15		0.02
	Loss per common share for      discontinued operations			(0.01	)	-0.03
	Basic and diluted net (loss) income  per common share		$	0.14		($0.01)

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Dec. 29, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Schedule of Pro-Forma Financial Information, inclduing reverse merger and acquisition	'
	The historical operating results of ARC and AFT have not been included in the Company's historical consolidated operating results prior to their acquisition dates. The following unaudited pro forma information presents the combined results of continuing operations for the three and six months ended December 30, 2012 as if the acquisition had been completed on July 1, 2012.
	(In thousands, except per share data)	Three Month Period Ended			Six Month Period Ended
		30-Dec-12			30-Dec-12
	Revenue	$	17,404		$34,174
	Income from continuing operations		870		128
	Loss from discontinued operations		(78	)	-141
	Net income (loss)	$	792		($13)
	Income per common share for continuing operation		0.15		0.02
	Loss per common share for      discontinued operations		(0.01	)	-0.03
	Basic and diluted net (loss) income  per common share	$	0.14		($0.01)

INVENTORY_Tables

INVENTORY (Tables)	6 Months Ended
	Dec. 29, 2013
Inventory Disclosure [Abstract]	'
Schedule of inventories	'
	Inventories consisted of the following (in thousands):
		December 29,		June 30,
		2013		2013
	Raw Materials and Supplies	$	3,396	$	3,172
	Work In Process		4,986		4,772
	Finished Goods		3,744		3,222
			12,126		11,166
	Less: Reserve for Obsolescence		410		386
		$	11,716	$	10,780

PLANT_AND_EQUIPMENT_Tables

PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Dec. 29, 2013
Property, Plant and Equipment [Abstract]	'
Schedule of plant and equipment	'
	Plant and equipment consisted of the following (in thousands):
		December 29,		June 30,
		2013		2013
	Land	$	1,197	$	1,197
	Building and Improvements		12,893		12,859
	Machinery and Equipment		18,247		18,277
	Office Equipment		778		766
	Leasehold Improvements		65		65
	Automobiles		186		186
	Construction in Process		1,051		281
			34,417		33,631
	Less: Accumulated Depreciation		11,012		9,580
		$	23,405	$	24,051

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	6 Months Ended
	Dec. 29, 2013
Long-term Debt, Unclassified [Abstract]	'
Schedule of Debt	'
		Balance as of
		(in thousands)
		29-Dec-13			30-Jun-13
	Revolving line of credit not to exceed $10.0 million with a maturity date of August 8, 2015; collateralized by accounts receivable and inventory; the amount available from this line is determined by a monthly borrowing base, at December 29, 2013. Interest is accrued and payable monthly.	$	1,658		$	2,868
	Term Loan A in the amount of $3.6 million, collateralized by equipment payable in equal monthly payments of $60 thousand plus accrued interest, with a maturity date of August 8, 2017.		2,649			3,010
	Term Loan B (commercial mortgage) in the amount of $5.5 million payable in equal monthly installments of $18 thousand plus accrued interest with maturity date of August 8, 2022, with a five year call option.		5,179			5,288
	Term Bridge Loan in the amount of $6.9 million with interest only payments for the first 6 months and 23 monthly principal payments of $300 thousand plus interest with maturity date of February 8, 2015.		3,600			5,032
	Subtotal	$	13,086		$	16,198
	Convertible Note Payable to PCC in the amount of $17.6 million; due at 8/8/2017; interest is equal to the Five-Year U.S. Treasury Note Constant Maturity rate adjusted on each anniversary and is paid on a quarterly basis; this Note is subordinated to the first priority security interest of TD Bank, N.A. Subject to certain terms of the agreement the Holder has the option to convert outstanding principal and unpaid interest into shares of the Company’s Common Stock.	$	17,600		$	17,600
	Convertible note interest discount(1)		(1,523	)		(1,734	)
	Convertible note, net of discount		16,077			15,866
	Total Long-Term Debt from Continuing Operations		29,163			32,064
	Less: Current Portion from Continuing Operations		(6,199	)		(7,410	)
	Total Long-Term Debt Less Current Portion	$	22,964		$	24,654
	(1)     The interest discount represents the difference between the actual negotiated interest rate being the Five-Year U.S. Treasury Note Constant Maturity rate, and the Company’s assumption of market rate of 4%. The total interest discount calculated was $2.1 million, which is amortized over the life of the note. The fiscal year 2014 non-cash interest discount amortization reduces the interest discount balance by $211 thousand, resulting in an ending balance as of December 29, 2013 of $1.5 million.
Schedule of Maturities of Long-term Debt	'
	Maturities on notes payable and Line of Credit are due as follows using our fiscal year end:
	2014		$	3,928
	2015			2,742
	2016			941
	2017			17,019
	2018			339
	2019 – 2022			4,193
	Total		$	29,162

DERIVATIVES_AND_HEDGING_ACTIVI1

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Dec. 29, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of outstanding swaps	'
	The terms of the outstanding swaps as December 29, 2013 were as follows:
	Associated Debt	Notional Amount (thousands)	Effective Date	Fixed Rate Paid	Variable Rate Received	Fair Value (thousands)	Swap Termination Date
	Term Loan A	$1,324	8-Aug-12	0.85%	LIBOR*	$4	8-Aug-17
	Term Loan B	$2,589	8-Aug-12	1.10%	LIBOR*	$2	8-Aug-17
	*One month London Interbank Offered Rate

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 29, 2013
Earnings Per Share [Abstract]	'
Schedule of reconciliation of shares used to calculate basic and diluted earnings (loss) per share	'
	The following table represents a reconciliation of the shares used to calculate basic and diluted earnings (loss) per share for the respective periods indicated (in thousands, except per share amounts):
		For the Three Months Ended
		December 29,						December 30,
		2013						2012
		Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
	Basic EPS:
	Net Earnings from Continuing Operations	$	1,515		5,877	$	0.26	$	870			5,673	$	0.15
	Net Loss from Discontinued Operations		—		5,877		—		(78	)		5,673		(0.01	)
	Effect of Dilutive Securities		—		—		—		—			—		—
	Employee stock options		—		—		—		—			—		—
	Basic and Diluted earnings per share	$	1,515		5,877	$	0.26	$	792			5,673	$	0.14
		For the Six Months Ended
		December 29,						December 30,
		2013						2012
		Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
	Basic EPS:
	Net Earnings from Continuing Operations	$	2,768		5,803	$	0.48	$	845			5,322	$	0.16
	Net Loss from Discontinued Operations		—		5,803		—		(141	)		5,322		(0.03	)
	Effect of Dilutive Securities		—		—		—		—			—		—
	Employee stock options		—		—		—		—			—		—
	Basic and Diluted earnings per share	$	2,768		5,803	$	0.48	$	704			5,322	$	0.13

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	6 Months Ended
	Dec. 29, 2013
Segment Reporting [Abstract]	'
Schedule of segment reporting, by operating segment	'
	Summarized segment information for our four continuing segments for the three and six months ended December 29, 2013 and December 30, 2012 is as follows:
		For the Six Months Ended
		(in thousands)
		29-Dec-13			30-Dec-12
	Net sales:
	Precision Components Group	$	31,993		$	25,075
	Flanges and Fittings Group		2,597			3,364
	Wireless Group		1,580			958
	3DMT Group		2,172			1,334
	Consolidated net sales	$	38,342		$	30,731
	Operating Costs:
	Precision Components Group		26,454			21,945
	Flanges and Fittings Group		2,435			3,037
	Wireless Group		1,183			1,171
	3DMT Group		1,530			906
	Consolidated Operating Costs	$	31,602		$	27,059
	Segment operating income/(loss) from continuing operations:
	Precision Components Group		5,539			3,130
	Flanges and Fittings Group		162			327
	Wireless Group		397			(213	)
	3DMT Group		642			428
	Corporate Expense		(2,287	)		(2,704	)
	Total segment operating income from continuing operations	$	4,453		$	968
	Interest expense, net		(499	)		(392	)
	Gain on bargain purchase		—			381
	Other non-operating income(expense)		7			24
	Non- Operating Income (Expenses)	$	(492	)	$	13
	Consolidated income from continuing operations before income tax expense and non-controlling interest	$	3,961		$	981
		For the Three Months Ended
		(in thousands)
		29-Dec-13			30-Dec-12
	Net sales:
	Precision Components Group	$	16,868		$	14,386
	Flanges and Fittings Group		1,336			1,701
	Wireless Group		893			584
	3DMT Group		845			733
	Consolidated net sales	$	19,942		$	17,404
	Operating Costs:
	Precision Components Group		14,033			12,661
	Flanges and Fittings Group		1,246			1,574
	Wireless Group		685			784
	3DMT Group		599			492
	Consolidated Operating Costs	$	16,563		$	15,511
	Segment operating income (loss) from continuing operations:
	Precision Components Group		2,835			1,725
	Flanges and Fittings Group		90			127
	Wireless Group		208			(200	)
	3DMT Group		246			241
	Corporate Expense		(827	)		(732	)
	Total segment operating income from continuing operations	$	2,552		$	1,161
	Interest expense, net		(293	)		(225	)
	Gain on bargain purchase		—			—
	Other non-operating income(expense)		7			(9	)
	Non- Operating Income (Expenses)	$	(286	)	$	(234	)
	Consolidated income from continuing operations before income tax expense and non-controlling interest	$	2,266		$	927
	Fiscal Quarter ending:	29-Dec-13			30-Dec-12
	Capital Expenditures:
	Precision Components Group	$	882		$	211
	Flanges and Fittings Group		10			5
	Wireless Group					—
	3DMT Group		—			—
	Consolidated Capital Expenditures	$	892		$	216
	Six Months ending:	29-Dec-13			30-Dec-12
Depreciation and Amortization Expense:
Precision Components Group	$	1,697		$	1,239
Flanges and Fittings Group		52			50
Wireless Group		41			41
3DMT Group		—			—
Consolidated Depreciation and Amortization Expense	$	1,790		$	1,330

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Dec. 29, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of results and assets and liabilities of discontinued operations	'
	Results for discontinued operations for the three and six months ended December 29, 2013 and December 30, 2012, (in thousands):
		Three Months Ended					Six Months Ended
		December 29,		December 30,			December 29,		December 30,
		2013		2012			2013		2012
	Net sales from discontinued operations	$	—	$	88		$	—	$	243
	Operating loss from discontinued operations	$	—	$	(88	)	$	—	$	(144	)
	Other income (expense)	$	—	$	—		$	—	$	(13	)
	Loss from discontinued operations	$	—	$	(88	)	$	—	$	(157	)
	The following assets and liabilities of TubeFit were segregated into Assets of Discontinued Operations and Liabilities of Discontinued Operations as appropriate in the balance sheet dated December 29, 2013 and June 30, 2013 as follows (in thousands):
		December 29,		June 30,
		2013		2013
	Accounts receivable, net	$	—	$	256
	Prepaid/Other Current Assets	$	—	$	6
	Assets of Discontinued Operations	$	—	$	262
	Accounts payable	$	—	$	6
	Accrued expenses	$	—	$	1
	Liabilities of Discontinued Operations	$	—	$	7

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 08, 2012	Dec. 29, 2013	Dec. 30, 2012	Dec. 30, 2012	Jun. 30, 2013
Significant Business Acquisitions	'	'	'	'	'
Cash investment from Carret PT	$449	'	'	'	'
Goodwill	'	11,497	'	'	11,497
Accumulated deficit	'	14,395	'	'	11,627
Gain on bargain purchase	'	'	'	381	'
Quadrant Metals Technologies LLC	'	'	'	'	'
Significant Business Acquisitions	'	'	'	'	'
Ownership percentage acquired	100.00%	'	'	'	'
ARC shares re-acquired in acquisition	4,029,700	'	'	'	'
Reverse stock split	'01:01.95	'	'	'	'
Date acquired	8-Aug-12	'	'	'	'
Shares sold	57,505	'	'	'	'
Shares issued in acquisition	1,585,413	'	'	'	'
Net assets acquired and liabilities assumed	10,600	'	'	'	'
Fair value of purchase price	10,200	'	'	'	'
Accumulated deficit	10,200	'	'	'	'
Advanced Forming Technology Inc	'	'	'	'	'
Significant Business Acquisitions	'	'	'	'	'
Date acquired	8-Aug-12	'	'	'	'
Total acquisition price	40,600	'	'	'	'
Cash paid for acquisition	7,100	'	'	'	'
Post-closing adjustments	-100	'	'	'	'
Bank facility funds used for acquisition	18,100	'	'	'	'
Convertible note, net with Precision Castparts used in acquisition	15,500	'	'	'	'
Goodwill	$4,700	'	'	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) (USD $)	3 Months Ended	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 30, 2012	Dec. 30, 2012
Pro forma Financial Information	'	'
Revenue	$17,404	$34,174
Income from continuing operations	870	128
Loss from discontinued operations	-78	-141
Net income (loss)	$792	($13)
Income per common share for continuing operation (in dollars per share)	$0.15	$0.02
Loss per common share for discontinued operations (in dollars per share)	($0.01)	($0.03)
Basic and diluted net (loss) income per common share (in dollars per share)	$0.14	($0.01)

INVENTORY_Details

INVENTORY (Details) (USD $)	Dec. 29, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Raw Materials and Supplies	$3,396	$3,172
Work In Process	4,986	4,772
Finished Goods	3,744	3,222
Inventory, Gross	12,126	11,166
Less: Reserve for Obsolescence	410	386
Inventory, Net	$11,716	$10,780

PLANT_AND_EQUIPMENT_Details

PLANT AND EQUIPMENT (Details) (USD $)	Dec. 29, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	$34,417	$33,631
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	11,012	9,580
Property and Equipment, net	23,405	24,051
Land	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	1,197	1,197
Building and Improvements	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	12,893	12,859
Machinery and Equipment	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	18,247	18,277
Office Equipment	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	778	766
Leasehold Improvements	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	65	65
Automobiles	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	186	186
Construction In Progress	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	$1,051	$281

LONGTERM_DEBT_Details_Narrativ

LONG-TERM DEBT (Details Narrative) (USD $)	6 Months Ended		12 Months Ended						6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Jun. 30, 2014	Dec. 29, 2013		Jun. 30, 2013		Aug. 08, 2012	Dec. 29, 2013	Dec. 29, 2013	Dec. 29, 2013
				Convertible Note		Convertible Note		Convertible Note	Credit Facility	Credit Facility	Credit Facility
										Lower Range	Upper Range
Debt Instrument [Line Items]	'	'	'	'		'		'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	'	'		'		'	$25,000	'	'
Interest Rate description	'	'	'	'		'		'	'One Month LIBOR	'	'
Basis spread	'	'	'	'		'		'	'	2.50%	3.00%
Assumption of market interest rate	'	'	'	'		'		4.00%	'	'	'
Convertible debt, interest discount	'	'	'	-1,523	[1]	-1,734	[1]	2,100	'	'	'
Amortization of interest discount	$211	'	$211	'		'		'	'	'	'
Economic hedging instrument, percentage of notional amounts	50.00%	'	'	'		'		'	'	'	'
Term of swap on Term Loan A and B	'5 years	'	'	'		'		'	'	'	'
[1]	(1) The interest discount represents the difference between the actual negotiated interest rate being the Five-Year U.S. Treasury Note Constant Maturity rate, and the Company's assumption of market rate of 4%. The total interest discount calculated was $2.1 million, which is amortized over the life of the note. The fiscal year 2014 non-cash interest discount amortization reduces the interest discount balance by $211 thousand, resulting in an ending balance as of December 29, 2013 of $1.5 million.

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013		Jun. 30, 2013		Aug. 08, 2012
Debt Instrument [Line Items]	'		'		'
Loans payable	$13,086		$16,198		'
Convertible debt, net of discount	16,077		15,866		'
Total Long-Term Debt from Continuing Operations	29,162		32,064		'
Less: Current Portion from Continuing Operations	-6,199		-7,410		'
Total Long-Term Debt Less Current Portion	22,964		24,654		'
Term Loan B - Commercial Mortgage	'		'		'
Debt Instrument [Line Items]	'		'		'
Loans payable	5,179		5,288		'
Face amount of debt	5,470		'		'
Periodic payment amount	18		'		'
Frequency of Periodic Payment	'Monthly		'		'
Debt maturity date	8-Aug-22		'		'
Call option	'5 years		'		'
Term Bridge Loan	'		'		'
Debt Instrument [Line Items]	'		'		'
Loans payable	3,600		5,032		'
Face amount of debt	6,900		'		'
Periodic payment amount	300		'		'
Frequency of Periodic Payment	'Monthly		'		'
Debt maturity date	8-Feb-15		'		'
Interest rate terms	'Interest only payments for the first 6 months and 23 monthly principal payments		'		'
Number of months for interest-only payments	'0 years 6 months		'		'
Number of months for principal payments	'0 years 23 months		'		'
Convertible Note	'		'		'
Debt Instrument [Line Items]	'		'		'
Convertible debt, gross	17,600		17,600		'
Face amount of debt	17,600		'		'
Debt maturity date	8-Aug-17		'		'
Convertible debt, interest discount	-1,523	[1]	-1,734	[1]	2,100
Convertible debt, net of discount	16,077		15,866		'
Term Loan A	'		'		'
Debt Instrument [Line Items]	'		'		'
Loans payable	2,649		3,010		'
Face amount of debt	3,612		'		'
Notes Payable to Banks	'		'		'
Debt Instrument [Line Items]	'		'		'
Notes payable	'		6,868		'
Term Loan A	'		'		'
Debt Instrument [Line Items]	'		'		'
Periodic payment amount	60		'		'
Frequency of Periodic Payment	'Monthly		'		'
Debt maturity date	8-Aug-17		'		'
Credit Facility	'		'		'
Debt Instrument [Line Items]	'		'		'
Line of Credit Facility, Maximum Borrowing Capacity	25,000		'		'
Interest Rate description	'One Month LIBOR		'		'
Revolving Line of Credit	'		'		'
Debt Instrument [Line Items]	'		'		'
Revolving line of credit	1,658		2,868		'
Line of Credit Facility, Maximum Borrowing Capacity	$10,000		'		'
Credit facility expiration date	8-Aug-15		'		'
[1]	(1) The interest discount represents the difference between the actual negotiated interest rate being the Five-Year U.S. Treasury Note Constant Maturity rate, and the Company's assumption of market rate of 4%. The total interest discount calculated was $2.1 million, which is amortized over the life of the note. The fiscal year 2014 non-cash interest discount amortization reduces the interest discount balance by $211 thousand, resulting in an ending balance as of December 29, 2013 of $1.5 million.

LONGTERM_DEBT_Details_1

LONG-TERM DEBT (Details 1) (USD $)	Dec. 29, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Maturities are as follows:	'	'
2014	$3,928	'
2015	2,742	'
2016	941	'
2017	17,019	'
2018	339	'
2019-2022	4,193	'
Total	$29,162	$32,064

DERIVATIVES_AND_HEDGING_ACTIVI2

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) (USD $)	Dec. 29, 2013
In Thousands, unless otherwise specified
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair value of interest rate derivatives	$6

DERIVATIVES_AND_HEDGING_ACTIVI3

DERIVATIVES AND HEDGING ACTIVITIES (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013
Swap - Term Loan A	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Associated Debt	'Term Loan A
Notional Amount	$1,324
Effective Date	8-Aug-12
Fixed Rate Paid	0.85%
Variable Rate Received	'LIBOR	[1]
Fair Value	4
Swap Termination Date	8-Aug-17
Swap - Term Loan B	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Associated Debt	'Term Loan B
Notional Amount	2,589
Effective Date	8-Aug-12
Fixed Rate Paid	1.10%
Variable Rate Received	'LIBOR	[1]
Fair Value	$2
Swap Termination Date	8-Aug-17
[1]	One month London Interbank Offered Rate

CUSTOMER_AND_SUPPLIER_CONCENTR1

CUSTOMER AND SUPPLIER CONCENTRATION RISK (Details Narrative)	6 Months Ended
	Dec. 29, 2013	Dec. 30, 2012
Concentration Risk [Line Items]	'	'
Concentration Risk Supplier	'There was no concentration in the volume of business above 5% transacted with a particular supplier(s) for which the Company had no alternative sources of supply.	'
Customers | Sales Revenue	'	'
Concentration Risk [Line Items]	'	'
Description of customer concentration risk	'Four customers	'Four customers
Concentration risk, percentage	42.60%	41.40%
Customers | Accounts Receivable	'	'
Concentration Risk [Line Items]	'	'
Description of customer concentration risk	'Four customers	'Four customers
Concentration risk, percentage	32.20%	35.60%

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Basic EPS:	'	'	'	'
Weighted average shares	5,877,000	5,673,000	5,803,000	5,322,000
Continuing Operations:	'	'	'	'
Net earnings (loss) attributed to common stock	$1,515	$870	$2,768	$845
Per share earnings (loss)	$0.26	$0.15	$0.48	$0.16
Discontinued Operations:	'	'	'	'
Net earnings (loss) attributed to common stock	'	-78	'	-141
Per share earnings (loss)	'	($0.01)	'	($0.03)
Diluted EPS:	'	'	'	'
Net earnings (loss) attributed to common stock	$1,515	$792	$2,768	$704
Weighted average shares	5,877,000	5,673,000	5,803,000	5,322,000
Per share earnings (loss)	$0.26	$0.14	$0.48	$0.13

INCOME_TAXES_Details_Narrative

INCOME TAXES (Details Narrative) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 29, 2013
Income Tax Disclosure [Abstract]	'	'
Provision for income taxes	$580	$847
Local foreign taxes paid	110	229
Net deferred tax assets	4,316	4,316
Valuation Allowance	($4,316)	($4,316)

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$19,942	$17,404	$38,342	$30,731
Operating costs	16,563	15,511	31,602	27,059
Operating income (loss)	2,552	1,161	4,453	968
Interest expense, net	-293	-225	-499	-392
Gain on bargain purchase	'	'	'	381
Other non-operating income (expense)	7	-9	7	24
Non-operating income (expense)	-286	-234	-492	13
Consolidated income from continuing operations before income tax expense and non-controlling interest	2,266	927	3,961	981
Purchase of plant and equipment	'	'	892	216
Depreciation and amortization	'	'	1,790	1,330
Precision Components	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	16,868	14,386	31,993	25,075
Operating costs	14,033	12,661	26,454	21,945
Operating income (loss)	2,835	1,725	5,539	3,130
Purchase of plant and equipment	'	'	882	211
Depreciation and amortization	'	'	1,697	1,239
Flanges and Fitting	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	1,336	1,701	2,597	3,364
Operating costs	1,246	1,574	2,435	3,037
Operating income (loss)	90	127	162	327
Purchase of plant and equipment	'	'	10	5
Depreciation and amortization	'	'	52	50
Wireless	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	893	584	1,580	958
Operating costs	685	784	1,183	1,171
Operating income (loss)	208	-200	397	-213
Purchase of plant and equipment	'	'	'	'
Depreciation and amortization	'	'	41	41
3DMT	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	845	733	2,172	1,334
Operating costs	599	492	1,530	906
Operating income (loss)	246	241	642	428
Corporate	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Operating income (loss)	($827)	($732)	($2,287)	($2,704)

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	3 Months Ended		6 Months Ended					6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 29, 2013	Dec. 29, 2013	Dec. 29, 2013	Dec. 30, 2012
	Quadrant Management Inc.	Quadrant Management Inc.	Quadrant Management Inc.	Quadrant Management Inc.	Everest Hill Group Inc.	Everest Hill Group Inc.	Quadrant Metals Technologies LLC	Quadrant Metals Technologies LLC	Quadrant Management Inc.
						Quadrant Management Inc.		Quadrant Management Inc.
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'
Common control relationship description	'	'	'	'	'Via certain wholly-owned intermediaries controls 61.5% of the shares of ARC	'	'	'Indirectly owned 74% of the membership interests of Quadrant Metals Technologies LLC	'
Ownership percentage	'	'	'	'	61.50%	100.00%	'	74.00%	'
Description of advisory agreements	'	'	'Financial advisory and business consulting services, including restructuring services	'	'	'	'	'Non-exclusive financial advisory agreement performing onging consulting and advisory services	'
Expiration date of advisory agreements	'	'	31-Dec-13	'	'	'	'	31-Dec-13	'
Initial advisory fee amount	'	'	$250	'	'	'	'	'	'
Annual advisory fee - 1st tier pricing	'	'	250	'	'	'	'	'	250
Advisory fee amount computed on increase in EBITDA - 2nd tier pricing	'	'	20.00%	'	'	'	'	'	'
Advisory fee amount computed on EBITDA - 3rd tier pricing	'	'	20.00%	'	'	'	'	'	20.00%
Total enterprise value, percentage used for transaction fees	'	'	2.00%	'	'	'	'	'	'
Transaction fees	'	'	'	'	'	'	'	'	1,600
Annual Advisory Fee	'	'	'	'	'	'	'	250	'
Advisory fees paid	407	100	835	288	'	'	'	'	'
Due to members - state income tax withheld	'	'	'	'	'	'	$20	'	'

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 29, 2013	Dec. 30, 2012	Dec. 29, 2013	Dec. 30, 2012
Results of discontinued operations - TubeFit	'	'	'	'
Net sales from discontinued operations	'	$88	'	$243
Operating loss from discontinued operations	'	-88	'	-144
Other income (expense)	'	'	'	-13
Loss from discontinued operations	'	($88)	'	($157)

DISCONTINUED_OPERATIONS_Detail1

DISCONTINUED OPERATIONS (Details 1) (USD $)	Dec. 29, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Discontinued Operations and Disposal Groups [Abstract]	'	'
Accounts receivable, net	'	$256
Prepaid/Other Current Assets	'	6
Assets of Discontinued Operations	'	262
Accounts payable	'	6
Accrued expenses	'	1
Liabilities of Discontinued Operations	'	$7

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details Narrative) (USD $)	3 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 29, 2013	Aug. 19, 2013
	Selling, general, and administrative costs	Mr. Jason Young
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Stock granted, shares	'	145,456
Value assigned stock grant, per share	'	$4.82
Stock-based compensation expense	$701	'

STOCKHOLDERS_EQUITY_Details_Na

STOCKHOLDERS EQUITY (Details Narrative) (USD $)	0 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Oct. 09, 2013	Dec. 29, 2013
Equity [Abstract]	'	'
Authorized repurchase of common stock, amount	$250	'
Treasury stock, shares	'	$8,401