Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jul. 31, 2014 | Dec. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'ETHAN ALLEN INTERIORS INC | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--06-30 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 28,927,235 | ' |
Entity Public Float | ' | ' | $798,035,877 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000896156 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $109,176 | $72,601 |
Marketable securities | 18,153 | 15,529 |
Accounts receivable, less allowance for doubtful accounts of $1,442 at June 30, 2014 and $1,230 at June 30, 2013 | 12,426 | 12,277 |
Inventories | 146,275 | 137,256 |
Prepaid expenses and other current assets | 19,599 | 22,907 |
Total current assets | 305,629 | 260,570 |
Property, plant and equipment, net | 288,156 | 291,672 |
Goodwill and other intangible assets | 45,128 | 45,128 |
Restricted cash and investments | 8,507 | 15,433 |
Other assets | 7,014 | 4,482 |
Total assets | 654,434 | 617,285 |
Current liabilities: | ' | ' |
Current maturities of long-term debt | 501 | 480 |
Customer deposits | 59,684 | 59,098 |
Accounts payable | 24,320 | 22,995 |
Accrued compensation and benefits | 27,709 | 27,205 |
Accrued expenses and other current liabilities | 23,833 | 23,161 |
Total current liabilities | 136,047 | 132,939 |
Long-term debt | 130,411 | 130,809 |
Other long-term liabilities | 20,509 | 19,180 |
Total liabilities | 286,967 | 282,928 |
Shareholders' equity: | ' | ' |
Preferred stock, par value $0.01; 1,055,000 shares authorized; none issued | 0 | 0 |
Additional paid-in-capital | 365,733 | 363,938 |
Less: Treasury stock (at cost), 19,650,385 shares at June 30, 2014 and 19,650,385 shares at June 30, 2013 | -584,041 | -584,041 |
Retained earnings | 584,395 | 553,083 |
Accumulated other comprehensive income | 642 | 684 |
Total Ethan Allen Interiors Inc. shareholders' equity | 367,215 | 334,150 |
Noncontrolling interests | 252 | 207 |
Total shareholders' equity | 367,467 | 334,357 |
Total liabilities and shareholders' equity | 654,434 | 617,285 |
Common Class A [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Common Stock, Value | 486 | 486 |
Common Class B [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Common Stock, Value | ' | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, allowance for doubtful accounts (in Dollars) | $1,442 | $1,230 |
Preferred stock, par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 1,055,000 | 1,055,000 |
Preferred stock, shares issued | 0 | 0 |
Treasury stock (at cost), shares | 19,650,385 | 19,650,385 |
Common Class A [Member] | ' | ' |
Common Stock, Par Value (in Dollars per share) | $0.01 | $0.01 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 48,577,620 | 48,557,973 |
Common Class B [Member] | ' | ' |
Common Stock, Par Value (in Dollars per share) | $0.01 | $0.01 |
Common Stock, Shares Authorized | 600,000 | 600,000 |
Common stock, shares issued | 0 | 0 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Net sales | $746,659 | $729,083 | $729,373 |
Cost of sales | 340,163 | 330,734 | 339,085 |
Gross profit | 406,496 | 398,349 | 390,288 |
Selling, general and administrative expenses | 336,860 | 337,912 | 340,591 |
Operating income | 69,636 | 60,437 | 49,697 |
Interest and other income (expense) | 276 | -1,485 | 562 |
Interest and other related financing costs | 7,510 | 8,778 | 9,020 |
Income before income taxes | 62,402 | 50,174 | 41,239 |
Income tax expense (benefit) | 19,471 | 17,696 | -8,455 |
Net income | 42,931 | 32,478 | 49,694 |
Other comprehensive income | ' | ' | ' |
Curency translation adjustment | -77 | -506 | -1,154 |
Other | 105 | 56 | -38 |
Other comprehensive income (loss) net of tax | 28 | -450 | -1,192 |
Comprehensive income | $42,959 | $32,028 | $48,502 |
Net income per basic share (in Dollars per share) | $1.48 | $1.13 | $1.72 |
Basic weighted average common shares (in Shares) | 28,918 | 28,864 | 28,824 |
Net income per diluted share (in Dollars per share) | $1.47 | $1.11 | $1.71 |
Diluted weighted average common shares (in Shares) | 29,276 | 29,239 | 29,109 |
Dividends declared per common share (in Dollars per share) | $0.40 | $0.77 | $0.30 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Operating activities: | ' | ' | ' |
Net income | $42,931 | $32,478 | $49,694 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 17,930 | 18,008 | 18,581 |
Compensation expense related to share-based payment awards | 1,325 | 1,401 | 1,702 |
Provision (benefit) for deferred income taxes | -3,032 | 2,767 | -19,522 |
Loss on disposal of property, plant and equipment | 2,093 | 3,717 | 1,648 |
Other | 415 | 1,824 | -42 |
Change in operating assets and liabilities, net of effects of acquired businesses: | ' | ' | ' |
Accounts receivable | -149 | 1,922 | -456 |
Inventories | -9,019 | 18,569 | -12,531 |
Prepaid and other current assets | 4,269 | 1,070 | -755 |
Customer deposits | 586 | -6,951 | 2,331 |
Accounts payable | 1,300 | -4,320 | 357 |
Accrued expenses and other current liabilities | 969 | -7,839 | -2,125 |
Other assets and liabilities | 271 | -1,345 | -1,181 |
Net cash provided by operating activities | 59,889 | 61,301 | 37,701 |
Investing activities: | ' | ' | ' |
Proceeds from the disposal of property, plant & equipment | 3,381 | 3,283 | 1,873 |
Change in restricted cash and investments | 6,926 | -17 | 975 |
Capital expenditures | -19,305 | -19,005 | -22,884 |
Acquisitions | ' | -770 | -520 |
Purchases of marketable securities | -18,268 | -18,247 | -3,647 |
Sales of marketable securities | 14,883 | 11,165 | 7,230 |
Other investing activities | 325 | 1,990 | 816 |
Net cash used in investing activities | -12,058 | -21,601 | -16,157 |
Financing activities: | ' | ' | ' |
Payments on long-term debt and capital lease obligations | -480 | -26,104 | -12,204 |
Purchases and retirements of company stock | ' | ' | -1,350 |
Payment of cash dividends | -11,297 | -22,220 | -8,062 |
Other financing activities | 525 | 1,758 | 738 |
Net cash used in financing activities | -11,252 | -46,566 | -20,878 |
Effect of exchange rate changes on cash | -4 | -254 | 536 |
Net increase (decrease) in cash & cash equivalents | 36,575 | -7,120 | 1,202 |
Cash & cash equivalents - beginning of year | 72,601 | 79,721 | 78,519 |
Cash & cash equivalents - end of year | 109,176 | 72,601 | 79,721 |
Income taxes paid | 20,928 | 19,046 | 14,731 |
Interest paid | 7,085 | 8,626 | 8,693 |
Non-cash capital lease obligations incurred | ' | $927 | $1,590 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
In Thousands | |||||||
Balance at Jun. 30, 2011 | $484 | $359,728 | ($582,691) | $2,258 | $501,908 | ' | $281,687 |
Stock issued on share-based awards | 1 | 224 | ' | ' | ' | ' | 225 |
Compensation expense associated with share-based awards | ' | 1,702 | ' | ' | ' | ' | 1,702 |
Tax benefit associated with exercise of share based awards | ' | -489 | ' | ' | ' | ' | -489 |
Purchase/retirement of company stock | ' | ' | -1,350 | ' | ' | ' | -1,350 |
Dividends declared on common stock | ' | ' | ' | ' | -8,684 | ' | -8,684 |
Increase from business combination | ' | ' | ' | ' | ' | 275 | 275 |
Comprehensive income (loss) | ' | ' | ' | -1,117 | 49,694 | -75 | 48,502 |
Balance at Jun. 30, 2012 | 485 | 361,165 | -584,041 | 1,141 | 542,918 | 200 | 321,868 |
Stock issued on share-based awards | 1 | 1,398 | ' | ' | ' | ' | 1,399 |
Compensation expense associated with share-based awards | ' | 1,401 | ' | ' | ' | ' | 1,401 |
Tax benefit associated with exercise of share based awards | ' | -26 | ' | ' | ' | ' | -26 |
Dividends declared on common stock | ' | ' | ' | ' | -22,313 | ' | -22,313 |
Comprehensive income (loss) | ' | ' | ' | -457 | 32,478 | 7 | 32,028 |
Balance at Jun. 30, 2013 | 486 | 363,938 | -584,041 | 684 | 553,083 | 207 | 334,357 |
Stock issued on share-based awards | ' | 357 | ' | ' | ' | ' | 357 |
Compensation expense associated with share-based awards | ' | 1,325 | ' | ' | ' | ' | 1,325 |
Tax benefit associated with exercise of share based awards | ' | 113 | ' | ' | ' | ' | 113 |
Dividends declared on common stock | ' | ' | ' | ' | -11,619 | ' | -11,619 |
Capital distribution | ' | ' | ' | ' | ' | -25 | -25 |
Comprehensive income (loss) | ' | ' | ' | -42 | 42,931 | 70 | 42,959 |
Balance at Jun. 30, 2014 | $486 | $365,733 | ($584,041) | $642 | $584,395 | $252 | $367,467 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
(1) Summary of Significant Accounting Policies | |
Basis of Presentation | |
Ethan Allen Interiors Inc. ("Interiors") is a Delaware corporation incorporated on May 25, 1989. The consolidated financial statements include the accounts of Interiors, its wholly-owned subsidiary Ethan Allen Global, Inc. ("Global"), and Global’s subsidiaries (collectively "We," "Us," "Our," "Ethan Allen" or the "Company"). All intercompany accounts and transactions have been eliminated in the consolidated financial statements. All of Global’s capital stock is owned by Interiors, which has no assets or operating results other than those associated with its investment in Global. | |
Our consolidated financial statements include the accounts of an entity in which we are a majority shareholder with the power to direct the activites that most significantly impact the entity’s performance. Noncontrolling interest amounts in the entity are immaterial and included in the Consolidated Statement of Comprehensive Income within interest and other income, net. | |
Nature of Operations | |
We are a leading manufacturer and retailer of quality home furnishings and accents, offering complimentary interior design service to our clients and sell a full range of furniture products and decorative accents. We sell our products through one of the country’s largest home furnishing retail networks with a total of 295 retail design centers, of which 143 are Company operated and 152 are independently operated. Nearly all of our Company operated retail design centers are located in the United States, with the remaining Company operated design centers located in Canada and Belgium. The majority of the independently operated design centers are in Asia, with the remaining independently operated design centers located throughout the United States, Canada, the Middle East and Europe. We have eight manufacturing facilities, one of which includes a separate sawmill operation, located throughout the United States, one in each of Mexico and Honduras. | |
Use of Estimates | |
We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Because of the inherent uncertainty involved in making those estimates, actual results could differ from those estimates. Areas in which significant estimates have been made include, but are not limited to, revenue recognition, the allowance for doubtful accounts receivable, inventory obsolescence, tax valuation allowances, useful lives for property, plant and equipment and definite lived intangible assets, goodwill and indefinite lived intangible asset impairment analyses, the evaluation of uncertain tax positions and the fair value of assets acquired and liabilities assumed in business combinations. | |
Reclassifications | |
Certain reclassifications have been made to prior years’ financial statements in order to conform to the current year’s presentation. These changes were made for disclosure purposes only and did not have any impact on previously reported results. | |
Cash Equivalents | |
Cash and short-term, highly-liquid investments with original maturities of three months or less are considered cash and cash equivalents. We invest excess cash in money market accounts, short-term commercial paper, and U.S. Treasury Bills. | |
Inventories | |
Inventories are stated at the lower of cost (first-in, first-out) or market. Cost is determined based solely on those charges incurred in the acquisition and production of the related inventory (i.e. material, labor and manufacturing overhead costs). | |
Marketable Securities | |
The Company’s investments are classified at the time of purchase as either available-for-sale or held-to-maturity, and reassessed as of each balance sheet date. Our marketable securities consist of available-for-sale securities, and are marked-to-market based on prices provided by our investment advisors, with unrealized gains and temporary unrealized losses reported as a component of other comprehensive income net of tax, until realized. When realized, the Company recognizes gains and losses on the sales of the securities on a specific identification method and includes the realized gains or losses in other income, net, in the consolidated statements of operations. The Company includes interest, dividends, and amortization of premium or discount on securities classified as available-for-sale in other income, net in the consolidated statements of operations. We also evaluate our available-for-sale securities to determine whether a decline in fair value of a security below the amortized cost basis is other than temporary. Should the decline be considered other than temporary, we write down the cost of the security and include the loss in earnings. In making this determination we consider such factors as the reason for and significance of the decline, current economic conditions, the length of time for which there has been an unrealized loss, the time to maturity, and other relevant information. Available-for-sale securities are classified as either short-term or long-term based on management’s intention of when to sell the securities. | |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation of plant and equipment is provided over the estimated useful lives of the respective assets on a straight-line basis. Estimated useful lives of the respective assets typically range from twenty to forty years for buildings and improvements and from three to twenty years for machinery and equipment. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter. | |
Operating Leases | |
We record expense for operating leases by recognizing the minimum lease payments on a straight-line basis, beginning on the date that the lessee takes possession or control of the property. A number of our operating lease agreements contain provisions for tenant improvement allowances, rent holidays, rent concessions, and/or rent escalations. | |
Incentive payments received from landlords are recorded as deferred lease incentives and are amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. When the terms of an operating lease provide for periods of free rent, rent concessions, and/or rent escalations, we establish a deferred rent liability for the difference between the scheduled rent payment and the straight-line rent expense recognized. This deferred rent liability is also amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. | |
Retail Design Center Acquisitions | |
We account for the acquisition of retail design centers and related assets with the purchase method. Accounting for these transactions as purchase business combinations requires the allocation of purchase price paid to the assets acquired and liabilities assumed based on their fair values as of the date of the acquisition. The amount paid in excess of the fair value of net assets acquired is accounted for as goodwill. | |
Goodwill and Other Intangible Assets | |
Our intangible assets are comprised primarily of goodwill, which represents the excess of cost over the fair value of net assets acquired, and trademarks. We determined these assets have indefinite useful lives, and are therefore not amortized. | |
Impairment of Long-Lived Assets and Goodwill | |
Goodwill and other indefinite-lived intangible assets are evaluated for impairment on an annual basis during the fourth quarter of each fiscal year, and between annual tests whenever events or circumstances indicate that the carrying value of the goodwill or other intangible asset may exceed its fair value. When testing goodwill for impairment, we may assess qualitative factors for some or all of our reporting units to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. Alternatively, we may bypass this qualitative assessment for some or all of our reporting units and determine whether the carrying value exceeds the fair value using a quantitative assessment as described below. | |
The recoverability of long-lived assets are evaluated for impairment by determining whether the carrying value will be recovered through the expected undiscounted future cash flows resulting from the use of the asset. In the event the sum of the expected undiscounted future cash flows is less than the carrying value of the asset, an impairment loss equal to the excess of the asset’s carrying value over its fair value is recorded. The long-term nature of these assets requires the estimation of cash inflows and outflows several years into the future and only takes into consideration technological advances known at the time of the impairment test. | |
To evaluate goodwill using a quantitative assessment, the Company determines the current fair value of the reporting units using a combination of “Market” and “Income” approaches. In the Market approach, the “Guideline Company” method is used, which focuses on comparing the Company’s risk profile and growth prospects to reasonably similar publicly traded companies. Key assumptions used for the Guideline Company method are total invested capital (“TIC”) multiples for revenues and operating cash flows, as well as consideration of control premiums. The TIC multiples are determined based on public furniture companies within our peer group, and if appropriate, recent comparable transactions are considered. Control premiums are determined using recent comparable transactions in the open market. Under the Income approach, a discounted cash flow method is used, which includes a terminal value, and is based on external analyst financial projection estimates, as well as internal financial projection estimates prepared by management. The long-term terminal growth rate assumptions reflect our current long-term view of the market in which we compete. Discount rates use the weighted average cost of capital for companies within our peer group, adjusted for specific company risk premium factors. | |
The fair value of our trade name, which is the Company’s only indefinite-lived intangible asset other than goodwill, is valued using the relief-from-royalty method. Significant factors used in trade name valuation are rates for royalties, future growth, and a discount factor. Royalty rates are determined using an average of recent comparable values. Future growth rates are based on the Company’s perception of the long-term values in the market in which we compete, and the discount rate is determined using the weighted average cost of capital for companies within our peer group, adjusted for specific company risk premium factors. | |
Financial Instruments | |
Because of their short-term nature, the carrying value of our cash and cash equivalents, receivables and payables, short-term debt and customer deposit liabilities approximates fair value. Substantially all of our long-term debt consists of our Senior Notes, the estimated fair value of which is $133.3 million at June 30, 2014 and $133.9 million at June 30, 2013, as compared to a carrying value on those dates of $129.3 million and $129.2 million, respectively. | |
Income Taxes | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. | |
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance must be established for deferred tax assets when it is more likely than not that the assets will not be realized. | |
We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Most of the unrecognized tax benefits, if recognized, would be recorded as a benefit to income tax expense. | |
The liability associated with an unrecognized tax benefit is classified as a long-term liability except for the amount for which a cash payment is expected to be made or tax positions settled within one year. We recognize interest and penalties related to income tax matters as a component of income tax expense. | |
Revenue Recognition | |
Revenue is recognized when all of the following have occurred: persuasive evidence of a sales arrangement exists (e.g. a wholesale purchase order or retail sales invoice); the sales arrangement specifies a fixed or determinable sales price; title and risk of ownership has passed to the customer; no specific performance obligations remain; product is shipped or services are provided to the customer or a fixed schedule of delivery is agreed upon and in place; collectability is reasonably assured. As such, revenue recognition generally occurs upon the shipment of goods to independent retailers or, in the case of Ethan Allen operated retail design centers, upon delivery to the customer. If shipping is billed to customers, this is included in revenue. Recorded sales provide for estimated returns and allowances. We permit our customers to return defective products and incorrect shipments, and terms we offer are standard for the industry. | |
Shipping and Handling Costs | |
Our practice has been to sell our products at the same delivered cost to all retailers nationwide, regardless of shipping point. Costs incurred by the Company to deliver finished goods are expensed and recorded in selling, general and administrative expenses. Shipping and handling costs amounted to $67.1 million in fiscal year 2014, $62.3 million for fiscal 2013 and $62.0 million in fiscal 2012. | |
Advertising Costs | |
Advertising costs are expensed when first aired or distributed. Our total advertising costs were $29.4 million in fiscal year 2014 and $29.8 million in fiscal years 2013 and 2012. These amounts are presented net of proceeds received by us under our agreement with the third-party financial institution responsible for administering our consumer finance programs. Prepaid advertising costs at June 30, 2014 totaled $0.6 million compared to $1.6 million at June 30, 2013. | |
Earnings Per Share | |
We compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated similarly, except that the weighted average outstanding shares are adjusted to include the effects of converting all potentially dilutive share-based awards issued under our employee stock plans (see Notes 9 and 10). Certain unvested share-based payment awards are participating securities because they contain rights to receive non-forfeitable dividends (if paid), and are included in the two-class method of computing earnings per share. | |
Share-Based Compensation | |
We estimate, as of the date of grant, the fair value of stock options awarded using the Black-Scholes option-pricing model. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs, including anticipated changes in the underlying stock price (i.e. expected volatility) and option exercise activity (i.e. expected life). Expected volatility is based on the historical volatility of our stock and other contributing factors. The expected life of options granted, which represents the period of time that the options are expected to be outstanding, is based, primarily, on historical data. | |
Share-based compensation expense is included in the Consolidated Statements of Operations within selling, general and administrative expenses. Tax benefits associated with our share-based compensation arrangements are included in the Consolidated Statements of Operations within income tax expense. | |
All shares of our common stock received in connection with the exercise of share-based awards have been recorded as treasury stock and result in a reduction in shareholders’ equity. | |
Foreign Currency Translation | |
The functional currency of each Company operated foreign location is the respective local currency. Assets and liabilities are translated into United States dollars using the current period-end exchange rate and income and expense amounts are translated using the average exchange rate for the period in which the transaction occurred. Resulting translation adjustments are reported as a component of accumulated other comprehensive income within shareholders’ equity. | |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. This amended guidance will enhance the comparability of revenue recognition practices and will be applied to all contracts with customers. Expanded disclosures related to the nature, amount, timing, and uncertainty of revenue that is recognized are requirements under the amended guidance. This guidance will be effective for fiscal 2018 and may be applied retrospectively. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. |
Note_2_Business_Acquisitions
Note 2 - Business Acquisitions | 12 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
(2) Business Acquisitions | |
From time to time the Company acquires design centers from its independent retailers in arms length transactions. There were no material acquisitions completed during the three fiscal years ended June 30, 2014, 2013 and 2012 respectively. |
Note_3_Inventories
Note 3 - Inventories | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
(3) Inventories | |||||||||
Inventories at June 30 are summarized as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Finished goods | $ | 116,377 | $ | 110,220 | |||||
Work in process | 8,355 | 6,961 | |||||||
Raw materials | 24,347 | 22,787 | |||||||
Valuation allowance | (2,804 | ) | (2,712 | ) | |||||
$ | 146,275 | $ | 137,256 | ||||||
Note_4_Property_Plant_and_Equi
Note 4 - Property, Plant and Equipment | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
(4) Property, Plant and Equipment | |||||||||
Property, plant and equipment at June 30 are summarized as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Land and improvements | $ | 88,296 | $ | 89,091 | |||||
Building and improvements | 389,022 | 388,628 | |||||||
Machinery and equipment | 124,391 | 116,666 | |||||||
601,709 | 594,385 | ||||||||
Less: accumulated depreciation and amortization | (313,553 | ) | (302,713 | ) | |||||
$ | 288,156 | $ | 291,672 | ||||||
Note_5_Goodwill_and_Other_Inta
Note 5 - Goodwill and Other Intangible Assets | 12 Months Ended |
Jun. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill and Intangible Assets Disclosure [Text Block] | ' |
(5) Goodwill and Other Intangible Assets | |
At both June 30, 2014 and 2013, we had $25.4 million of goodwill, and $19.7 million of other indefinite-lived intangible assets consisting of Ethan Allen trade names, all of which is in our wholesale segment. | |
In the fourth quarter of fiscal years 2014, 2013, and 2012, the Company performed qualitative assessments of the fair value of the wholesale reporting unit and concluded that the fair value of its goodwill exceeded its carrying value. In fiscal year 2011 the Company performed a quantitative assessment and determined the fair value of its wholesale reporting unit exceeded its carrying value by a substantial margin. The fair value of the trade name exceeded its carrying value by a substantial margin in fiscal years 2014, 2013 and 2012. To calculate fair value of these assets, management relies on estimates and assumptions which by their nature have varying degrees of uncertainty. Management therefore looks for third party transactions to provide the best possible support for the assumptions incorporated. Management considers several factors to be significant when estimating fair value including expected financial outlook of the business, changes in the Company’s stock price, the impact of changing market conditions on financial performance and expected future cash flows, and other factors. Deterioration in any of these factors may result in a lower fair value assessment, which could lead to impairment of the long-lived assets and goodwill of the Company. |
Note_6_Borrowings
Note 6 - Borrowings | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
(6) Borrowings | |||||||||
Total debt obligations at June 30 consist of the following (in thousands): | |||||||||
2014 | 2013 | ||||||||
5.375% Senior Notes due 2015 | $ | 129,255 | $ | 129,152 | |||||
Capital leases and other | 1,657 | 2,137 | |||||||
Total debt | 130,912 | 131,289 | |||||||
Less curent maturities | 501 | 480 | |||||||
Total long-term debt | $ | 130,411 | $ | 130,809 | |||||
Senior Notes | |||||||||
On September 27, 2005, we completed a private offering of $200.0 million of ten-year senior unsecured notes due 2015 (the "Senior Notes"). The Senior Notes were offered by Global and have an annual coupon rate of 5.375% with interest payable semi-annually in arrears on April 1 and October 1 of each year. Proceeds received in connection with the issuance of the Senior Notes, net of a related discount of $1.6 million, totaled $198.4 million. We used the net proceeds from the offering to expand our retail network, invest in our manufacturing and logistics operations, and for other general corporate purposes. As of June 30, 2014, outstanding borrowings related to this transaction have been included in the Consolidated Balance Sheets within long-term debt. The discount on the Senior Notes is being amortized to interest expense over the life of the related debt as is debt issuance costs of $2.0 million primarily for banking, legal, accounting, rating agency, and printing services and $0.8 million of losses on settled forward contracts entered in conjunction with this debt issuance. During fiscal years 2011, 2012 and 2013, the Company repurchased $70.6 million of the Senior Notes in several unsolicited transactions. | |||||||||
The Senior Notes may be redeemed in whole or in part, at Global’s option at any time at the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Senior Notes to be redeemed, discounted to the date of redemption on a semi-annual basis at the applicable treasury rate plus 20 basis points, plus, in each case, accrued and unpaid interest to the redemption date. In the event of default, the trustee or the holders of 25% of the outstanding principal amount of the Senior Notes may accelerate payment of principal, premium, if any, and accrued and unpaid interest. Events of default include failure to pay in accordance with the terms of the indenture, including failure, under certain circumstances, to pay indebtedness other than the Senior Notes. As of June 30, 2014, we are in compliance with the terms and conditions and all covenants of the Senior Notes. | |||||||||
Revolving Credit Facility | |||||||||
The Company has a senior secured, asset-based, revolving credit facility (the “Facility”) which provides revolving credit financing of up to $50 million, subject to borrowing base availability, and includes a right for the Company to increase the total facility to $100 million either with existing or additional lenders subject to certain conditions. The Facility expires March 25, 2016, or June 26, 2015 if the Company’s Senior Notes have not been refinanced. At the Company’s option, revolving loans under the Facility bear interest at an annual rate of either: | |||||||||
(a) | London Interbank Offered rate (“LIBOR”) plus 2.0% to 2.5%, based on the average availability, or | ||||||||
(b) | The higher of (i) a prime rate, (ii) the federal funds effective rate plus 0.50%, or (iii) LIBOR plus 1.0% plus, in each case, an additional 1.0% to 1.5%, based on average availability. | ||||||||
The Company pays a commitment fee of 0.25% per annum on the unused portion of the Facility and participation fees on issued letters of credit at an annual rate of 1.0% to 2.5%, based on the average availability and the letter of credit type. If the average monthly availability is less than the greater of (i) 12.5% of the aggregate commitment and (ii) $6.3 million, the Company’s fixed charge coverage ratio may not be less than 1 to 1 for any period of four consecutive fiscal quarters. Certain payments are restricted if the availability of the collateral supporting the facility falls below $10 million or 20% of the facility size. | |||||||||
The Facility is secured by all property owned, leased or operated by the Company in the United States excluding any real property owned by the Company and contains customary covenants which may limit the Company’s ability to incur debt; engage in mergers and consolidations; make restricted payments (including dividends); sell certain assets; and make investments. At June 30, 2014, we had no revolving loans and $0.6 million of standby and trade letters of credit outstanding under the Facility. Remaining availability under the facility totaled $49.4 million subject to limitations set forth in the agreement and as a result, the coverage charge ratio, and other restricted payment limitations did not apply. As of June 30, 2014, we are in compliance with all the covenants of the Facility. | |||||||||
For fiscal years ended June 30, 2014, 2013 and 2012, the weighted-average interest rates applicable under our outstanding debt obligations for each year was approximately 5.5%. Aggregate scheduled maturities of our debt obligations for each of the five fiscal years subsequent to June 30, 2014, and thereafter are as follows (in thousands): | |||||||||
Fiscal Year Ended June 30 | 2014 | ||||||||
2015 | $ | 501 | |||||||
2016 | 129,778 | ||||||||
2017 | 474 | ||||||||
2018 | 159 | ||||||||
2019 | - | ||||||||
Subsequent to 2019 | - | ||||||||
Total scheduled debt payments | $ | 130,912 | |||||||
Note_7_Leases
Note 7 - Leases | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Leases [Abstract] | ' | ||||||||||||
Leases of Lessee Disclosure [Text Block] | ' | ||||||||||||
(7) Leases | |||||||||||||
We lease real property and equipment under various operating lease agreements expiring at various times through 2034. Leases covering retail design center locations and equipment may require, in addition to stated minimums, contingent rentals based on retail sales or equipment usage. Generally, the leases provide for renewal for various periods at stipulated rates. Future minimum lease payments under non-cancelable operating leases for each of the five fiscal years subsequent to June 30, 2014, and thereafter are shown in the table following. Also shown are minimum future rentals from subleases, which will partially offset lease payments in the aggregate (in thousands): | |||||||||||||
Fiscal Year Ended June 30, 2014 | |||||||||||||
Minimum | Minimum | ||||||||||||
Future | Future | ||||||||||||
Lease | Sublease | ||||||||||||
Payments | Rentals | ||||||||||||
2015 | $ | 30,744 | $ | 2,452 | |||||||||
2016 | 27,222 | 1,685 | |||||||||||
2017 | 23,987 | 1,552 | |||||||||||
2018 | 22,245 | 1,451 | |||||||||||
2019 | 18,571 | 900 | |||||||||||
Subsequent to 2019 | 72,376 | 1,888 | |||||||||||
Total | $ | 195,145 | $ | 9,928 | |||||||||
Total rent expense for each of the past three fiscal years ended June 30 was as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic rentals under operating leases | $ | 28,653 | $ | 30,014 | $ | 30,895 | |||||||
Contingent rentals under operating leases | 231 | 75 | 109 | ||||||||||
28,884 | 30,089 | 31,004 | |||||||||||
Less: sublease rent | (2,494 | ) | (2,034 | ) | (1,656 | ) | |||||||
Total rent expense | $ | 26,390 | $ | 28,055 | $ | 29,348 | |||||||
As of June 30, 2014 and 2013, deferred rent credits totaling $12.5 million and $11.9 million, respectively, and deferred lease incentives totaling $3.1 million and $1.9 million, respectively, are reflected in the Consolidated Balance Sheets. These amounts are amortized over the respective underlying lease terms on a straight-line basis as a reduction of rent expense. |
Note_8_Shareholders_Equity
Note 8 - Shareholders' Equity | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||
(8) Shareholders' Equity | |||||||||||||
Our authorized capital stock consists of (a) 150,000,000 shares of Class A Common Stock, par value $.01 per share, (b) 600,000 shares of Class B Common Stock, par value $.01 per share, and (c) 1,055,000 shares of Preferred Stock, par value $.01 per share, of which (i) 30,000 shares have been designated Series A Redeemable Convertible Preferred Stock, (ii) 30,000 shares have been designated Series B Redeemable Convertible Preferred Stock, (iii) 155,010 shares have been designated as Series C Junior Participating Preferred Stock, and (iv) the remaining 839,990 shares may be designated by the Board of Directors with such rights and preferences as they determine (all such preferred stock, collectively, the "Preferred Stock"). Shares of Class B Common Stock are convertible to shares of our Common Stock upon the occurrence of certain events or other specified conditions being met. As of June 30, 2014 and 2013, there were no shares of Preferred Stock or Class B Common Stock issued or outstanding. | |||||||||||||
Share Repurchase Program | |||||||||||||
On November 21, 2002, the Company’s Board of Directors approved a share repurchase program authorizing us to repurchase up to 2.0 million shares of our common stock, from time to time, either directly or through agents, in the open market at prices and on terms satisfactory to us. Subsequent to that date, the Board of Directors increased the then remaining share repurchase authorization on seven separate occasions the last of which was on November 13, 2007. As of June 30, 2014 we had a remaining Board authorization to repurchase 1.1 million shares. | |||||||||||||
During the past three fiscal years, we repurchased and/or retired the following shares of our common stock (trade date basis): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Common shares repurchased | - | - | 79,293 | ||||||||||
Cost to repurchase common shares | $ | - | $ | - | $ | 1,349,557 | |||||||
Average price per share | $ | - | $ | - | $ | 17.02 | |||||||
For the fiscal years presented above, we funded our purchases of treasury stock with existing cash on hand and cash generated through current period operations. All of our common stock repurchases and retirements are recorded as treasury stock and result in a reduction of shareholders’ equity. |
Note_9_Earnings_per_Share
Note 9 - Earnings per Share | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||
(9) Earnings per Share | |||||||||||||||
The following table sets forth the calculation of weighted average shares for the fiscal years ended June 30 (in thousands): | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Weighted average common shares outstanding for basic calculation | 28,918 | 28,864 | 28,824 | ||||||||||||
Effect of dilutive stock options and other share-based awards | 358 | 375 | 285 | ||||||||||||
Weighted average common shares outstanding adjusted for dilution calculation | 29,276 | 29,239 | 29,109 | ||||||||||||
Certain restricted stock awards and the potential exercise of certain stock options were excluded from the respective diluted earnings per share calculation because their impact is anti-dilutive. In 2014, 2013 and 2012, stock options and share based awards of 724,292, 877,100 and 1,641,500, respectively, have been excluded. |
Note_10_ShareBased_Compensatio
Note 10 - Share-Based Compensation | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
(10) Share-Based Compensation | |||||||||||||||||
For the twelve months ended June 30, 2014, 2013, and 2012, share-based compensation expense totaled $1.3 million, $1.4 million, and $1.7 million respectively. These amounts have been included in the Consolidated Statements of Operations within selling, general and administrative expenses. During the twelve months ended June 30, 2014, 2013, and 2012, we recognized related tax benefits associated with our share-based compensation arrangements totaling $0.5 million, $0.5 million and $0.6 million, respectively (before valuation allowances). Such amounts have been included in the Consolidated Statements of Operations within income tax expense. | |||||||||||||||||
We estimate, as of the date of grant, the fair value of stock options awarded using the Black-Scholes option-pricing model. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs, including anticipated changes in the underlying stock price (i.e. expected volatility) and option exercise activity (i.e. expected life). Expected volatility is based on the historical volatility of our stock. The risk-free rate of return is based on the U.S. Treasury bill rate for the term closest matching the expected life of the grant. The dividend yield is based on the annualized dividend rate at the grant date relative to the grant date stock price. The expected life of options granted, which represents the period of time that the options are expected to be outstanding, is based, primarily, on historical data. The weighted average assumptions used for fiscal years ended June 30 are noted in the following table: | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Volatility | 56.3 | % | 56.5 | % | 45.1 | % | |||||||||||
Risk-free rate of return | 1.52 | % | 0.8 | % | 1.92 | % | |||||||||||
Dividend yield | 1.55 | % | 1.64 | % | 2 | % | |||||||||||
Expected average life (years) | 5.2 | 5.8 | 9.6 | ||||||||||||||
At June 30, 2014, we had 1,360,878 shares of common stock available for future issuance pursuant to the 1992 Stock Option Plan (the “Plan”). The maximum number of shares of common stock reserved for issuance under the Plan is 6,487,867 shares. Following is a description of grants made under the Plan. | |||||||||||||||||
Stock Option Awards | |||||||||||||||||
The Plan provides for the grant of non-compensatory stock options to eligible employees and non-employee directors. Stock options granted under the Plan are non-qualified under Section 422 of the Internal Revenue code and allow for the purchase of shares of our common stock. The Plan also provides for the issuance of stock appreciation rights ("SARs") on issued options, however, no SARs have been issued as of June 30, 2014. The awarding of such options is determined by the Compensation Committee of the Board of Directors after consideration of recommendations proposed by the Chief Executive Officer. Option awards are generally granted with an exercise price equal to the market price of our common stock at the date of grant, vest ratably over a specified service period, and have a contractual term of 10 years. In fiscal 2014 the service period was 5 years for awards to employees (as further described below), and 3 years for awards to independent directors. | |||||||||||||||||
Effective October 1, 2011, the Company and M. Farooq Kathwari, our President and Chief Executive Officer, entered into a new employment agreement (the "Agreement"). Pursuant to the terms of the Agreement, Mr. Kathwari was awarded on October 1, 2011, options to purchase 300,000 shares of our common stock at an exercise price of $13.61 which vest ratably over a 5-year period on each June 30, unless earlier vested, in certain circumstances, in accordance with the terms of the Agreement. During fiscal 2014 the Company granted to certain executives of the Company other than Mr. Kathwari, options to purchase an aggregate of 149,000 shares of our common stock, which vest provided certain performance and service conditions are met. The performance conditions allow the potential vesting in three equal tranches, provided attainment of a minimum annual 5% growth in operating income (as defined in the agreement) for each of the ensuing three fiscal years. If the minimum annual growth is not achieved in any fiscal year, that tranche is forfeited, except that if a cumulative compound growth rate of 5% is achieved at the end of the three fiscal years, performance conditions for all three tranches will have been met. Service conditions require an additional period after performance conditions are met. Consequently, assuming both performance and service conditions are met, shares become exercisable between 3 and 5 years from grant date. At June 30, 2014, the first tranche achieved the performance conditions, and consequently 49,667 shares will vest ratably in three equal tranches on the grant date anniversary in years three, four and five provided service conditions are also met. | |||||||||||||||||
All options were issued at the closing stock price on each grant date, and have a contractual term of 10 years. A summary of stock option activity occurring during the fiscal year ended June 30, 2014 is presented below: | |||||||||||||||||
Options | Shares | Weighted | Weighted | Aggregate | |||||||||||||
Average | Average | Intrinsic Value | |||||||||||||||
Exercise | Remaining | ||||||||||||||||
Price | Contractual | ||||||||||||||||
Term (yrs) | |||||||||||||||||
Outstanding - June 30, 2013 | 1,636,494 | $ | 26.54 | ||||||||||||||
Granted | 172,499 | 25.83 | |||||||||||||||
Exercised | (20,553 | ) | 17.37 | ||||||||||||||
Canceled (forfeited/expired) | (465,064 | ) | 34.9 | ||||||||||||||
Outstanding - June 30, 2014 | 1,323,376 | 23.65 | 5 | $ | 6,319,869 | ||||||||||||
Exercisable - June 30, 2014 | 992,699 | $ | 24.58 | 3.8 | $ | 4,816,501 | |||||||||||
The weighted average grant-date fair value of options granted during fiscal 2014, 2013, and 2012 was $11.42, $9.96 and $5.98 respectively. The total intrinsic value of options exercised during 2014, 2013 and 2012 was $0.2 million, $0.8 million, and $0.1 million, respectively. As of June 30, 2014, there was $2.2 million of total unrecognized compensation cost related to nonvested options granted under the Plan. That cost is expected to be recognized over a weighted average period of 3.2 years. A summary of the nonvested shares as of June 30, 2014 and changes during the year then ended is presented below: | |||||||||||||||||
Options | Shares | Weighted Average | |||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Nonvested June 30, 2013 | 303,207 | $ | 6.9 | ||||||||||||||
Granted | 172,499 | 11.42 | |||||||||||||||
Vested | (118,815 | ) | 6.61 | ||||||||||||||
Canceled (forfeited/expired) | (26,214 | ) | 10.21 | ||||||||||||||
Nonvested at June 30, 2014 | 330,677 | $ | 9.1 | ||||||||||||||
Restricted Stock Awards | |||||||||||||||||
On July 26, 2011, as a result of the Company’s performance, the Compensation Committee of the Company’s board of directors awarded Mr. Kathwari 30,000 service-based restricted shares, which vest in three equal annual installments on the grant date anniversary. Effective October 1, 2011, pursuant to the terms of the Agreement, Mr. Kathwari was awarded 105,000 shares of restricted stock, which vest ratably over a 5-year period on each June 30, unless earlier vested, in certain circumstances, in accordance with the terms of the Agreement. | |||||||||||||||||
A summary of nonvested restricted share activity occurring during the fiscal year ended June 30, 2014 is presented below. | |||||||||||||||||
Restricted Awards | Shares | Weighted | |||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Nonvested - June 30, 2013 | 86,812 | $ | 15.09 | ||||||||||||||
Granted | - | ||||||||||||||||
Vested | (33,906 | ) | 15.67 | ||||||||||||||
Canceled (forfeited/expired) | (906 | ) | 18.4 | ||||||||||||||
Nonvested - June 30, 2014 | 52,000 | $ | 14.66 | ||||||||||||||
As of June 30, 2014, there was $0.6 million of total unrecognized compensation cost related to restricted shares granted under the Plan. That cost is expected to be recognized over a weighted average period of 1.8 years. The total fair value of restricted shares vested during the fiscal years ending June 30, 2014 and 2013 was $0.9 million and $1.4 million respectively. | |||||||||||||||||
Stock Unit Awards | |||||||||||||||||
In connection with previous employment agreements, Mr. Kathwari was deemed to have earned 126,000 stock units. In the event of the termination of his employment, regardless of the reason for termination, Mr. Kathwari will receive shares of common stock equal to the number of stock units earned. |
Note_11_Income_Taxes
Note 11 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||||||||||||||
(11) Income Taxes | |||||||||||||||||||||||||
Income tax expense (benefit) attributable to income from operations consists of the following for the fiscal years ended June 30 (in thousands): | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Current: | |||||||||||||||||||||||||
Federal | $ | 20,693 | $ | 13,305 | $ | 13,086 | |||||||||||||||||||
State | 1,900 | 1,822 | (1,433 | ) | |||||||||||||||||||||
Foreign | 60 | 125 | 57 | ||||||||||||||||||||||
Total current | 22,653 | 15,252 | 11,710 | ||||||||||||||||||||||
Deferred: | |||||||||||||||||||||||||
Federal | (941 | ) | 1,798 | (20,896 | ) | ||||||||||||||||||||
State | (1,921 | ) | 669 | 591 | |||||||||||||||||||||
Foreign | (320 | ) | (23 | ) | 140 | ||||||||||||||||||||
Total deferred | (3,182 | ) | 2,444 | (20,165 | ) | ||||||||||||||||||||
Income Tax Expense (Benefit) | $ | 19,471 | $ | 17,696 | $ | (8,455 | ) | ||||||||||||||||||
The following is a reconciliation of expected income tax expense (benefit) (computed by applying the federal statutory income tax rate to income before taxes) to actual income tax expense (benefit) (in thousands): | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Expected Income Tax Expense | $ | 21,841 | 35 | % | $ | 17,561 | 35 | % | $ | 14,434 | 35 | % | |||||||||||||
State income taxes, net of federal income tax | 2,209 | 3.5 | % | 1,467 | 2.9 | % | 1,038 | 2.5 | % | ||||||||||||||||
Valuation allowance | (1,540 | ) | -2.5 | % | 631 | 1.3 | % | (21,237 | ) | -51.5 | % | ||||||||||||||
Section 199 Qualified Production Activities deduction | (1,342 | ) | -2.2 | % | (1,157 | ) | -2.3 | % | (1,001 | ) | -2.4 | % | |||||||||||||
Unrecognized tax expense (benefit) | (904 | ) | -1.4 | % | 30 | 0.1 | % | (1,483 | ) | -3.6 | % | ||||||||||||||
Other, net | (793 | ) | -1.3 | % | (836 | ) | -1.7 | % | (206 | ) | -0.5 | % | |||||||||||||
Actual income tax expense (benefit) | $ | 19,471 | 31.2 | % | $ | 17,696 | 35.3 | % | $ | (8,455 | ) | -20.5 | % | ||||||||||||
The deferred income tax asset and liability balances at June 30 (in thousands) include: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Accounts receivable | $ | 557 | $ | 463 | |||||||||||||||||||||
Inventories | 223 | - | |||||||||||||||||||||||
Employee compensation accruals | 5,168 | 5,057 | |||||||||||||||||||||||
Stock based compensation | 2,468 | 2,342 | |||||||||||||||||||||||
Deferred rent credits | 5,695 | 5,071 | |||||||||||||||||||||||
Restructuring charges | 465 | 622 | |||||||||||||||||||||||
Net operating loss carryforwards | 4,004 | 3,592 | |||||||||||||||||||||||
Goodwill | 3,870 | 5,020 | |||||||||||||||||||||||
Other, net | 2,693 | 3,053 | |||||||||||||||||||||||
Total deferred tax assets | 25,143 | 25,220 | |||||||||||||||||||||||
Less: Valuation allowance | (1,408 | ) | (2,948 | ) | |||||||||||||||||||||
Net deferred tax assets | 23,735 | 22,272 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Inventories | - | 775 | |||||||||||||||||||||||
Property, plant and equipment | 622 | 1,121 | |||||||||||||||||||||||
Intangible assets other than goodwill | 14,306 | 14,264 | |||||||||||||||||||||||
Commissions | 3,274 | 3,590 | |||||||||||||||||||||||
Other, net | - | 20 | |||||||||||||||||||||||
Total deferred tax liability | 18,202 | 19,770 | |||||||||||||||||||||||
Total net deferred tax asset | $ | 5,533 | $ | 2,502 | |||||||||||||||||||||
The deferred tax balances are classified in the Consolidated Balance Sheets as follows at June 30 (in thousands): | |||||||||||||||||||||||||
Current assets | $ | 4,028 | $ | 2,876 | |||||||||||||||||||||
Non-current assets | 4,440 | 251 | |||||||||||||||||||||||
Current liabilities | - | - | |||||||||||||||||||||||
Non-current liabilities | 2,935 | 625 | |||||||||||||||||||||||
Total net deferred tax asset | $ | 5,533 | $ | 2,502 | |||||||||||||||||||||
Note: Current deferred tax assets and liabilities and non-current deferred tax assets and liabilities have been presented net in the Consolidated Balance Sheets. | |||||||||||||||||||||||||
We evaluate our deferred taxes to determine if the “more likely than not” standard of evidence has not been met thereby supporting the need for a valuation allowance. | |||||||||||||||||||||||||
A valuation allowance must be established for deferred tax assets when it is more likely than not that the assets will not be realized. At the end of the fourth quarter of fiscal 2014, our U.S. retail segment operations returned to a position of cumulative pre-tax profits for the most recent 36 month period, we had six quarters of pre-tax operating profits over the last eight consecutive quarters, we reported growth in net sales and our business plan projected continued profitability. This positive evidence provides support that our future tax benefits more likely than not will be realized. Accordingly, at the end of the fourth quarter of fiscal 2014, we released all of the U.S. retail segment valuation allowance against net deferred state tax assets. We recorded a tax benefit of $2 million for the reversal of the valuation allowance against those assets, with a non-cash benefit to earnings in the quarter ended June 30, 2014. We retained a valuation allowance against the Belgian foreign deferred tax assets in our retail segment. At June 30, 2014 this valuation allowance was approximately $1.4 million. | |||||||||||||||||||||||||
During fiscal 2012, we released all of United States federal and Canadian valuation allowance against net deferred tax assets established during fiscal 2010. We recorded a tax benefit of $21.6 million for the reversal of the valuation allowance against those assets, with a non-cash benefit to earnings in the quarter ended March 31, 2012. | |||||||||||||||||||||||||
The Company’s deferred income tax assets at June 30, 2014 with respect to the net operating losses expire as follows (in thousands): | |||||||||||||||||||||||||
Income | Loss | ||||||||||||||||||||||||
Tax Assets | Carryforwards | ||||||||||||||||||||||||
United States (State), expiring between 2015 and 2032 | $ | 1,862 | $ | 39,649 | |||||||||||||||||||||
Foreign, Expiring between 2029 and 2033 | 2,142 | 6,850 | |||||||||||||||||||||||
Deferred U.S. federal income taxes are not provided for unremitted foreign earnings of our foreign subsidiaries because we expect those earnings will be permanently reinvested. | |||||||||||||||||||||||||
Uncertain Tax Positions | |||||||||||||||||||||||||
We recognize interest and penalties related to income tax matters as a component of income tax expense. If the $4.7 million of unrecognized tax benefits and related interest and penalties as of June 30, 2014 were recognized, approximately $3.1 million would be recorded as a benefit to income tax expense. A reconciliation of the beginning and ending amount of unrecognized tax benefits including related interest and penalties as of June 30, 2014 and 2012 is as follows (in thousands): | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Beginning balance | $ | 6,843 | $ | 7,369 | |||||||||||||||||||||
Additions for tax positions taken | 1,642 | 1,227 | |||||||||||||||||||||||
Reductions for tax positions taken in prior years | (2,853 | ) | (1,351 | ) | |||||||||||||||||||||
Settlements | (933 | ) | (402 | ) | |||||||||||||||||||||
Ending balance | $ | 4,699 | $ | 6,843 | |||||||||||||||||||||
It is reasonably possible that various issues relating to approximately $2.2 million of the total gross unrecognized tax benefits as of June 30, 2014 will be resolved within the next twelve months as exams are completed or statutes expire. If recognized, approximately $1.4 million of unrecognized tax benefits would reduce our tax expense in the period realized. However, actual results could differ from those currently anticipated. | |||||||||||||||||||||||||
The Company conducts business globally and, as a result, the Company or one or more of its subsidiaries files income tax returns in the U.S., various state, and foreign jurisdictions. In the normal course of business, the Company is subject to examination by the taxing authorities in such major jurisdictions as the U.S. Canada, Mexico, Belgium and Honduras. As of June 30, 2014, the Company and certain subsidiaries are currently under audit from 2006 through 2012 in the U.S. While the amount of uncertain tax benefits with respect to the entities and years under audit may change within the next twelve months, it is not anticipated that any of the changes will be significant. |
Note_12_Employee_Retirement_Pr
Note 12 - Employee Retirement Programs | 12 Months Ended |
Jun. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
(12) Employee Retirement Programs | |
The Ethan Allen Retirement Savings Plan | |
The Ethan Allen Retirement Savings Plan (the "Savings Plan") is a defined contribution plan, which is offered to substantially all of our employees who have completed three consecutive months of service regardless of hours worked. We may, at our discretion, make a matching contribution to the 401(k) portion of the Savings Plan on behalf of each participant. Total 401(k) Company match expense amounted to $2.8 million in 2014, $2.9 million in 2013, and $2.6 million in 2012. The contribution was made entirely in cash in 2014, 2013 and 2012. | |
Other Retirement Plans and Benefits | |
Ethan Allen provides additional benefits to selected members of senior and middle management in the form of previously entered deferred compensation arrangements and a management cash bonus and other incentive programs. The total cost of these benefits was $3.5 million, $3.4 million, and $2.7 million in 2014, 2013 and 2012, respectively. |
Note_13_Litigation
Note 13 - Litigation | 12 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
(13) Litigation | |
Environmental Matters | |
We and our subsidiaries are subject to various environmental laws and regulations. Under these laws, we and/or our subsidiaries are, or may be, required to remove or mitigate the effects on the environment of the disposal or release of certain hazardous materials. We believe our currently anticipated capital expenditures for environmental control facility matters are not material. | |
We are subject to other federal, state and local environmental protection laws and regulations and are involved, from time to time, in investigations and proceedings regarding environmental matters. Such investigations and proceedings typically concern air emissions, water discharges, and/or management of solid and hazardous wastes. We believe that our facilities are in material compliance with all applicable environmental laws and regulations. | |
Federal and state regulations provided the initiative for us to reformulate certain furniture finishes or institute process changes to reduce emissions of volatile organic compounds. Compliance with many of these requirements has been facilitated through the introduction of high solids coating technology and alternative formulations. In addition, we have instituted a variety of technical and procedural controls, including reformulation of finishing materials to reduce toxicity, implementation of high velocity low pressure spray systems, development of storm water protection plans and controls, and further development of related inspection/audit teams, all of which have served to reduce emissions per unit of production. We remain committed to implementing new waste minimization programs and/or enhancing existing programs with the objective of (i) reducing the total volume of waste, (ii) limiting the liability associated with waste disposal, and (iii) continuously improving environmental and job safety programs on the factory floor which serve to minimize emissions and safety risks for employees. We will continue to evaluate the most appropriate, cost effective, control technologies for finishing operations and design production methods to reduce the use of hazardous materials in the manufacturing process. |
Note_14_Accumulated_Other_Comp
Note 14 - Accumulated Other Comprehensive Income | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||||||||||
(14) Accumulated Other Comprehensive Income | |||||||||||||||||
The following table sets forth the activity in accumulated other comprehensive income for the fiscal year ended June 30, 2014 (in thousands): | |||||||||||||||||
Foreign | Derivative | Unrealized | Total | ||||||||||||||
currency | instruments | gains and | |||||||||||||||
translation | losses on | ||||||||||||||||
adjustments | investments | ||||||||||||||||
Balance June30, 2013 | $ | 747 | $ | (69 | ) | $ | 6 | $ | 684 | ||||||||
Changes before reclassifications | $ | (77 | ) | $ | - | $ | 5 | $ | (72 | ) | |||||||
Amounts reclassified from accumulated other comprehensive income | $ | - | $ | 30 | $ | - | $ | 30 | |||||||||
Current period other comprehensive income | $ | (77 | ) | $ | 30 | $ | 5 | $ | (42 | ) | |||||||
Balance June30, 2014 | $ | 670 | $ | (39 | ) | $ | 11 | $ | 642 | ||||||||
Foreign currency translation adjustments are the result of changes in foreign currency exchange rates related to our operations in Canada, Belgium, Honduras and Mexico, and exclude income taxes given that the earnings of non-U.S. subsidiaries are deemed to be reinvested for an indefinite period of time. The derivative instruments are reclassified to interest expense in our consolidated statements of operations. |
Note_15_Segment_Information
Note 15 - Segment Information | 12 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||
(15) Segment Information | ||||||||||||||
Our operations are classified into two operating segments: wholesale and retail. These operating segments represent strategic business areas which, although they operate separately and provide their own distinctive services, enable us to more effectively offer our complete line of home furnishings and accents. | ||||||||||||||
The wholesale segment is principally involved in the development of the Ethan Allen brand, which encompasses the design, manufacture, domestic and offshore sourcing, sale and distribution of a full range of home furnishings and accents to a network of independently operated and Ethan Allen operated design centers as well as related marketing and brand awareness efforts. Wholesale revenue is generated upon the wholesale sale and shipment of our product to all retail design centers, including those operated by Ethan Allen. Wholesale profitability includes (i) the wholesale gross margin, which represents the difference between the wholesale sales price and the cost associated with manufacturing and/or sourcing the related product, and (ii) other operating costs associated with wholesale segment activities. | ||||||||||||||
The retail segment sells home furnishings and accents to consumers through a network of Company operated design centers. Retail revenue is generated upon the retail sale and delivery of our product to our customers. Retail profitability includes (i) the retail gross margin, which represents the difference between the retail sales price and the cost of goods purchased from the wholesale segment, and (ii) other operating costs associated with retail segment activities. | ||||||||||||||
Inter-segment eliminations result, primarily, from the wholesale sale of inventory to the retail segment, including the related profit margin. | ||||||||||||||
We evaluate performance of the respective segments based upon revenues and operating income. While the manner in which our home furnishings and accents are marketed and sold is consistent, the nature of the underlying recorded sales (i.e. wholesale versus retail) and the specific services that each operating segment provides (i.e. wholesale manufacturing, sourcing, and distribution versus retail selling) are different. Within the wholesale segment, we maintain revenue information according to each respective product line (i.e. case goods, upholstery, or home accents and other). The allocation of retail sales by product line generally follows that of the wholesale segment (see the product line table below). A breakdown of wholesale sales by product line for each of the last three fiscal years ended June 30 is provided below: | ||||||||||||||
Fiscal Year Ended June 30, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Case Goods | 36 | % | 37 | % | 38 | % | ||||||||
Upholstered Products | 48 | % | 48 | % | 44 | % | ||||||||
Home Accessories and Other | 16 | % | 15 | % | 18 | % | ||||||||
100 | % | 100 | % | 100 | % | |||||||||
Information for each of the last three fiscal years ended June 30 is provided below (in thousands): | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Net sales: | ||||||||||||||
Wholesale segment | $ | 453,607 | $ | 434,439 | $ | 456,915 | ||||||||
Retail segment | 580,739 | 578,284 | 559,417 | |||||||||||
Elimination of inter-company sales | (287,687 | ) | (283,640 | ) | (286,959 | ) | ||||||||
Consolidated Total | $ | 746,659 | $ | 729,083 | $ | 729,373 | ||||||||
Operating income (loss): | ||||||||||||||
Wholesale segment | $ | 57,816 | $ | 50,843 | $ | 64,436 | ||||||||
Retail segment | 10,515 | 8,016 | (11,522 | ) | ||||||||||
Adjustment of inter-company profit (1) | 1,305 | 1,578 | (3,217 | ) | ||||||||||
Consolidated Total | $ | 69,636 | $ | 60,437 | $ | 49,697 | ||||||||
Depreciation & Amortization: | ||||||||||||||
Wholesale segment | $ | 7,887 | $ | 8,166 | $ | 7,525 | ||||||||
Retail segment | 10,043 | 9,842 | 11,056 | |||||||||||
Consolidated Total | $ | 17,930 | $ | 18,008 | $ | 18,581 | ||||||||
Capital expenditures: | ||||||||||||||
Wholesale segment | $ | 11,013 | $ | 7,024 | $ | 12,168 | ||||||||
Retail segment | 8,292 | 11,981 | 10,716 | |||||||||||
Acquisitions | - | 770 | 520 | |||||||||||
Consolidated Total | $ | 19,305 | $ | 19,775 | $ | 23,404 | ||||||||
30-Jun | 30-Jun | 30-Jun | ||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Total Assets: | ||||||||||||||
Wholesale segment | $ | 339,271 | $ | 291,942 | $ | 309,573 | ||||||||
Retail segment | 344,025 | 355,233 | 366,594 | |||||||||||
Inventory profit elimination (2) | (28,862 | ) | (29,890 | ) | (31,379 | ) | ||||||||
Consolidated Total | $ | 654,434 | $ | 617,285 | $ | 644,788 | ||||||||
(1) Represents the change in wholesale profit contained in Ethan Allen design center inventory at the end of the period. | ||||||||||||||
(2) The wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold. | ||||||||||||||
Our international net sales are comprised of our wholesale segment sales to independent retailers and our retail segment sales to consumers through the Company operated design centers. The number of international design centers, and the related net sales as a percent of our consolidated net sales is shown in the following table. | ||||||||||||||
Fiscal Year Ended June 30, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Independent design centers | 91 | 86 | 87 | |||||||||||
Company operated design centers | 8 | 8 | 5 | |||||||||||
Total international design centers | 99 | 94 | 92 | |||||||||||
Percentage of consolidated net sales | 10.6 | % | 8.9 | % | 10.2 | % | ||||||||
Note_16_Selected_Quarterly_Fin
Note 16 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
(16) Selected Quarterly Financial Data (Unaudited) | |||||||||||||||||
Tabulated below is selected financial data for each quarter of the fiscal years ended June 30, 2014, 2013, and 2012 (in thousands, except per share data): | |||||||||||||||||
Quarter Ended | |||||||||||||||||
30-Sep | 31-Dec | 31-Mar | 30-Jun | ||||||||||||||
Fiscal 2014: | |||||||||||||||||
Net Sales | $ | 181,659 | $ | 193,104 | $ | 173,061 | $ | 198,835 | |||||||||
Gross profit | 98,743 | 105,999 | 93,130 | 108,624 | |||||||||||||
Net income | 9,034 | 11,555 | 5,258 | 17,084 | |||||||||||||
Earnings per basic share | 0.31 | 0.4 | 0.18 | 0.59 | |||||||||||||
Earnings per diluted share | 0.31 | 0.39 | 0.18 | 0.58 | |||||||||||||
Dividends declared per common share | 0.1 | 0.1 | 0.1 | 0.1 | |||||||||||||
Fiscal 2013: | |||||||||||||||||
Net Sales | $ | 187,437 | $ | 191,251 | $ | 168,144 | $ | 182,251 | |||||||||
Gross profit | 104,253 | 103,967 | 91,785 | 98,344 | |||||||||||||
Net income | 10,064 | 9,846 | 4,374 | 8,194 | |||||||||||||
Earnings per basic share | 0.35 | 0.34 | 0.15 | 0.28 | |||||||||||||
Earnings per diluted share | 0.35 | 0.34 | 0.15 | 0.28 | |||||||||||||
Dividends declared per common share | 0.09 | 0.5 | 0.09 | 0.09 | |||||||||||||
Fiscal 2012: | |||||||||||||||||
Net Sales | $ | 184,921 | $ | 183,275 | $ | 175,861 | $ | 185,316 | |||||||||
Gross profit | 97,885 | 98,219 | 94,275 | 99,909 | |||||||||||||
Net income | 6,770 | 8,077 | 27,548 | 7,299 | |||||||||||||
Earnings per basic share | 0.24 | 0.28 | 0.95 | 0.25 | |||||||||||||
Earnings per diluted share | 0.23 | 0.28 | 0.94 | 0.25 | |||||||||||||
Dividends declared per common share | 0.07 | 0.07 | 0.07 | 0.09 | |||||||||||||
Note_17_Financial_Instruments
Note 17 - Financial Instruments | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Financial Instruments Disclosure [Text Block] | ' | ||||||||||||||||
(17) Financial Instruments | |||||||||||||||||
We determine fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the Company. In addition, the fair value of liabilities includes consideration of non-performance risk including our own credit risk. Each fair value measurement is reported in one of the three levels, determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: | |||||||||||||||||
● Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. | |||||||||||||||||
● Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||
● Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. | |||||||||||||||||
The following section describes the valuation methodologies we use to measure different financial assets and liabilities at fair value. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following table presents our assets and liabilities measured at fair value on a recurring basis at June 30, 2014 and June 30, 2013 (in thousands): | |||||||||||||||||
30-Jun-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance | ||||||||||||||
Cash equivalents | $ | 117,683 | $ | - | $ | - | $ | 117,683 | |||||||||
Available-for-sale securities | - | 18,153 | - | 18,153 | |||||||||||||
Total | $ | 117,683 | $ | 18,153 | $ | - | $ | 135,836 | |||||||||
30-Jun-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance | ||||||||||||||
Cash equivalents | $ | 88,034 | $ | - | $ | - | $ | 88,034 | |||||||||
Available-for-sale securities | - | 15,529 | - | 15,529 | |||||||||||||
Total | $ | 88,034 | $ | 15,529 | $ | - | $ | 103,563 | |||||||||
Cash equivalents consist of money market accounts, and mutual funds in U.S. government and agency fixed income securities. We use quoted prices in active markets for identical assets or liabilities to determine fair value. There were no transfers between level 1 and level 2 during fiscal years 2014 or 2013. At June 30, 2014 and 2013, $8.5 million and $15.4 million, respectively, of cash equivalents were restricted and classified as a long-term asset. | |||||||||||||||||
At June 30, 2014 available-for-sale securities consist of $18.2 million of U.S. municipal bonds, and at June 30, 2013, available for sale securities consisted of $14.0 million in U.S. municipal bonds and $1.5 million of corporate bonds. All securities in both years have maturities of less than two years, and are rated A/A2 or better by S&P/Moody’s respectively. There were no material gross unrealized gains or losses on available-for-sale securities at June 30, 2014 or June 30, 2013. | |||||||||||||||||
Additional information on available-for-sale securities balances at June 30 are provided in the following table (in thousands). | |||||||||||||||||
Amortized | Fair | ||||||||||||||||
Cost Basis | Value | ||||||||||||||||
2014 | $ | 17,909 | $ | 18,153 | |||||||||||||
2013 | $ | 15,314 | $ | 15,529 | |||||||||||||
The contractual maturities of our available-for-sale investments as of June 30, 2014 and 2013 were as follows (in thousands): | |||||||||||||||||
30-Jun-14 | |||||||||||||||||
Cost | Estimated | ||||||||||||||||
Fair Value | |||||||||||||||||
Due in one year or less | $ | 16,049 | $ | 15,863 | |||||||||||||
Due after one year through five years | $ | 2,296 | $ | 2,290 | |||||||||||||
30-Jun-13 | |||||||||||||||||
Cost | Estimated | ||||||||||||||||
Fair Value | |||||||||||||||||
Due in one year or less | $ | 13,213 | $ | 13,067 | |||||||||||||
Due after one year through five years | $ | 2,463 | $ | 2,462 | |||||||||||||
Proceeds from sales of investments available for sale were $14.9 million in fiscal 2014 and $11.2 million during fiscal 2013, resulting in no material gain or loss in either period. There were no investments that have been in a continuous loss position for more than one year, and there have been no other-than-temporary impairments recognized. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
We measure certain assets, including our cost and equity method investments, at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be other-than-temporarily impaired. During the year ended June 30, 2014, we did not record any other-than-temporary impairments on those assets required to be measured at fair value on a nonrecurring basis. See also Note 18, “Restricted Cash and Investments”. |
Note_18_Restricted_Cash_and_In
Note 18 - Restricted Cash and Investments | 12 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Restricted Assets Disclosure [Text Block] | ' |
(18) Restricted Cash and Investments | |
At June 30, 2014 and 2013 we held $8.5 million and $15.4 million, respectively, of cash and investments in lieu of providing letters of credit for the benefit of the provider of our workmen’s compensation and other insurance liabilities, and for the benefit of the issuer of our private label credit cards to ensure funding for delivery of products sold. These restricted funds, which can be invested by us in money market mutual funds, and U.S. Treasuries and U.S. Government agency fixed income instruments with maturities of two years or less, cannot be withdrawn from our account without the prior written consent of the secured parties. These restricted funds are classified as long-term assets because they are not expected to be used within one year to fund operations. See also Note 17, “Financial Instruments”. |
Note_19_Subsequent_Events
Note 19 - Subsequent Events | 12 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
(19) Subsequent Events | |
None. |
Note_20_Financial_Information_
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Condensed Financial Statements [Text Block] | ' | ||||||||||||||||||||||||
(20) Financial Information About the Parent, the Issuer and the Guarantors | |||||||||||||||||||||||||
On September 27, 2005, Global (the “Issuer”) issued $200 million aggregate principal amount of Senior Notes which have been guaranteed on a senior basis by Interiors (the “Parent”), and other wholly owned domestic subsidiaries of the Issuer and the Parent, including Ethan Allen Retail, Inc., Ethan Allen Operations, Inc., Ethan Allen Realty, LLC, Lake Avenue Associates, Inc. and Manor House, Inc. The subsidiary guarantors (other than the Parent) are collectively called the “Guarantors”. The guarantees of the Guarantors are unsecured. All of the guarantees are full, unconditional and joint and several and the Issuer and each of the Guarantors are 100% owned by the Parent. Our other subsidiaries which are not guarantors are called the “Non-Guarantors”. | |||||||||||||||||||||||||
The following tables set forth the condensed consolidating balance sheets as of June 30, 2014 and June 30, 2013, the condensed consolidating statements of operations for the twelve months ended June 30, 2014, 2013 and 2012, and the condensed consolidating statements of cash flows for the twelve months ended June 30, 2014, 2013 and 2012 of the Parent, the Issuer, the Guarantors and the Non-Guarantors. | |||||||||||||||||||||||||
ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 95,567 | $ | 10,347 | $ | 3,262 | $ | - | $ | 109,176 | |||||||||||||
Marketable securities | - | 18,153 | - | - | - | 18,153 | |||||||||||||||||||
Accounts receivable, net | - | 12,118 | 308 | - | - | 12,426 | |||||||||||||||||||
Inventories | - | - | 168,996 | 6,141 | (28,862 | ) | 146,275 | ||||||||||||||||||
Prepaid expenses and other current assets | - | 6,954 | 10,800 | 1,845 | - | 19,599 | |||||||||||||||||||
Intercompany receivables | - | 836,086 | 322,382 | (3,478 | ) | (1,154,990 | ) | - | |||||||||||||||||
Total current assets | - | 968,878 | 512,833 | 7,770 | (1,183,852 | ) | 305,629 | ||||||||||||||||||
Property, plant and equipment, net | - | 8,848 | 262,272 | 17,036 | - | 288,156 | |||||||||||||||||||
Goodwill and other intangible assets | - | 37,905 | 7,223 | - | - | 45,128 | |||||||||||||||||||
Restricted cash and investments | - | 8,507 | - | - | - | 8,507 | |||||||||||||||||||
Other assets | - | 4,620 | 1,647 | 747 | - | 7,014 | |||||||||||||||||||
Investment in affiliated companies | 731,003 | (107,050 | ) | - | - | (623,953 | ) | - | |||||||||||||||||
Total assets | $ | 731,003 | $ | 921,708 | $ | 783,975 | $ | 25,553 | $ | (1,807,805 | ) | $ | 654,434 | ||||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current maturities of long-term debt | $ | - | $ | - | $ | 501 | $ | - | $ | - | $ | 501 | |||||||||||||
Customer deposits | - | - | 55,810 | 3,874 | - | 59,684 | |||||||||||||||||||
Accounts payable | - | 6,423 | 17,699 | 198 | - | 24,320 | |||||||||||||||||||
Accrued expenses and other current liabilities | 3,013 | 30,656 | 16,292 | 1,581 | - | 51,542 | |||||||||||||||||||
Intercompany payables | 360,523 | (8,468 | ) | 773,850 | 29,085 | (1,154,990 | ) | - | |||||||||||||||||
Total current liabilities | 363,536 | 28,611 | 864,152 | 34,738 | (1,154,990 | ) | 136,047 | ||||||||||||||||||
Long-term debt | - | 129,255 | 1,156 | - | - | 130,411 | |||||||||||||||||||
Other long-term liabilities | - | 4,241 | 15,763 | 505 | - | 20,509 | |||||||||||||||||||
Total liabilities | 363,536 | 162,107 | 881,071 | 35,243 | (1,154,990 | ) | 286,967 | ||||||||||||||||||
Shareholders’ equity | 367,467 | 759,601 | (97,096 | ) | (9,690 | ) | (652,815 | ) | 367,467 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 731,003 | $ | 921,708 | $ | 783,975 | $ | 25,553 | $ | (1,807,805 | ) | $ | 654,434 | ||||||||||||
ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 57,307 | $ | 12,463 | $ | 2,831 | $ | - | $ | 72,601 | |||||||||||||
Marketable securities | - | 15,529 | - | - | - | 15,529 | |||||||||||||||||||
Accounts receivable, net | - | 12,061 | 212 | 4 | - | 12,277 | |||||||||||||||||||
Inventories | - | - | 161,683 | 5,463 | (29,890 | ) | 137,256 | ||||||||||||||||||
Prepaid expenses and other current assets | - | 9,882 | 11,275 | 1,750 | - | 22,907 | |||||||||||||||||||
Intercompany receivables | - | 831,238 | 302,577 | (3,726 | ) | (1,130,089 | ) | - | |||||||||||||||||
Total current assets | - | 926,017 | 488,210 | 6,322 | (1,159,979 | ) | 260,570 | ||||||||||||||||||
Property, plant and equipment, net | - | 9,432 | 265,698 | 16,542 | - | 291,672 | |||||||||||||||||||
Goodwill and other intangible assets | - | 37,905 | 7,223 | - | - | 45,128 | |||||||||||||||||||
Restricted cash and investments | - | 15,433 | - | - | - | 15,433 | |||||||||||||||||||
Other assets | - | 2,188 | 1,488 | 806 | - | 4,482 | |||||||||||||||||||
Investment in affiliated companies | 686,451 | (111,647 | ) | - | - | (574,804 | ) | - | |||||||||||||||||
Total assets | $ | 686,451 | $ | 879,328 | $ | 762,619 | $ | 23,670 | $ | (1,734,783 | ) | $ | 617,285 | ||||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current maturities of long-term debt | $ | - | $ | - | $ | 480 | $ | - | $ | - | $ | 480 | |||||||||||||
Customer deposits | - | - | 56,030 | 3,068 | - | 59,098 | |||||||||||||||||||
Accounts payable | - | 7,390 | 15,097 | 508 | - | 22,995 | |||||||||||||||||||
Accrued expenses and other current liabilities | 2,720 | 29,710 | 16,683 | 1,253 | - | 50,366 | |||||||||||||||||||
Intercompany payables | 349,374 | (7,460 | ) | 766,039 | 22,136 | (1,130,089 | ) | - | |||||||||||||||||
Total current liabilities | 352,094 | 29,640 | 854,329 | 26,965 | (1,130,089 | ) | 132,939 | ||||||||||||||||||
Long-term debt | - | 129,152 | 1,657 | - | - | 130,809 | |||||||||||||||||||
Other long-term liabilities | - | 4,492 | 14,355 | 333 | - | 19,180 | |||||||||||||||||||
Total liabilities | 352,094 | 163,284 | 870,341 | 27,298 | (1,130,089 | ) | 282,928 | ||||||||||||||||||
Shareholders’ equity | 334,357 | 716,044 | (107,722 | ) | (3,628 | ) | (604,694 | ) | 334,357 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 686,451 | $ | 879,328 | $ | 762,619 | $ | 23,670 | $ | (1,734,783 | ) | $ | 617,285 | ||||||||||||
ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 446,666 | $ | 798,442 | $ | 42,250 | $ | (540,699 | ) | $ | 746,659 | ||||||||||||
Cost of sales | - | 340,572 | 513,106 | 28,212 | (541,727 | ) | 340,163 | ||||||||||||||||||
Gross profit | - | 106,094 | 285,336 | 14,038 | 1,028 | 406,496 | |||||||||||||||||||
Selling, general and administrative expenses | 180 | 47,367 | 269,519 | 19,794 | - | 336,860 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 58,727 | 15,817 | (5,756 | ) | 1,028 | 69,636 | |||||||||||||||||
Interest and other miscellaneous income, net | 43,111 | 4,990 | (95 | ) | (22 | ) | (47,708 | ) | 276 | ||||||||||||||||
Interest and other related financing costs | - | 7,429 | 81 | - | - | 7,510 | |||||||||||||||||||
Income before income tax expense | 42,931 | 56,288 | 15,641 | (5,778 | ) | (46,680 | ) | 62,402 | |||||||||||||||||
Income tax expense (benefit) | - | 14,205 | 5,080 | 186 | - | 19,471 | |||||||||||||||||||
Net income/(loss) | $ | 42,931 | $ | 42,083 | $ | 10,561 | $ | (5,964 | ) | $ | (46,680 | ) | $ | 42,931 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 434,741 | $ | 796,194 | $ | 38,181 | $ | (540,033 | ) | $ | 729,083 | ||||||||||||
Cost of sales | - | 327,723 | 520,570 | 23,963 | (541,522 | ) | 330,734 | ||||||||||||||||||
Gross profit | - | 107,018 | 275,624 | 14,218 | 1,489 | 398,349 | |||||||||||||||||||
Selling, general and administrative expenses | 180 | 46,620 | 272,794 | 18,318 | - | 337,912 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 60,398 | 2,830 | (4,100 | ) | 1,489 | 60,437 | |||||||||||||||||
Interest and other miscellaneous income, net | 32,658 | (4,229 | ) | 38 | (75 | ) | (29,877 | ) | (1,485 | ) | |||||||||||||||
Interest and other related financing costs | - | 8,709 | 69 | - | - | 8,778 | |||||||||||||||||||
Income before income tax expense | 32,478 | 47,460 | 2,799 | (4,175 | ) | (28,388 | ) | 50,174 | |||||||||||||||||
Income tax expense (benefit) | - | 16,291 | 1,320 | 85 | - | 17,696 | |||||||||||||||||||
Net income/(loss) | $ | 32,478 | $ | 31,169 | $ | 1,479 | $ | (4,260 | ) | $ | (28,388 | ) | $ | 32,478 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2012 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 456,895 | $ | 787,295 | $ | 33,417 | $ | (548,234 | ) | $ | 729,373 | ||||||||||||
Cost of sales | - | 341,365 | 523,064 | 19,311 | (544,655 | ) | 339,085 | ||||||||||||||||||
Gross profit | - | 115,530 | 264,231 | 14,106 | (3,579 | ) | 390,288 | ||||||||||||||||||
Selling, general and administrative expenses | 180 | 45,690 | 280,480 | 14,241 | - | 340,591 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 69,840 | (16,249 | ) | (135 | ) | (3,579 | ) | 49,697 | |||||||||||||||
Interest and other miscellaneous income, net | 49,874 | (15,403 | ) | 216 | 17 | (34,142 | ) | 562 | |||||||||||||||||
Interest and other related financing costs | - | 8,997 | 23 | - | - | 9,020 | |||||||||||||||||||
Income before income tax expense | 49,694 | 45,440 | (16,056 | ) | (118 | ) | (37,721 | ) | 41,239 | ||||||||||||||||
Income tax expense (benefit) | - | (8,013 | ) | (523 | ) | 81 | - | (8,455 | ) | ||||||||||||||||
Net income/(loss) | $ | 49,694 | $ | 53,453 | $ | (15,533 | ) | $ | (199 | ) | $ | (37,721 | ) | $ | 49,694 | ||||||||||
ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 10,940 | $ | 34,812 | $ | 12,025 | $ | 2,112 | $ | - | $ | 59,889 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (610 | ) | (17,018 | ) | (1,677 | ) | - | (19,305 | ) | |||||||||||||||
Acquisitions | - | - | - | - | - | - | |||||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 24 | 3,357 | - | - | 3,381 | |||||||||||||||||||
Change in restricted cash and investments | - | 6,926 | - | - | - | 6,926 | |||||||||||||||||||
Purchase of marketable securities | - | (18,268 | ) | - | - | - | (18,268 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 14,883 | - | - | - | 14,883 | |||||||||||||||||||
Other | - | 325 | - | - | - | 325 | |||||||||||||||||||
Net cash used in investing activities | - | 3,280 | (13,661 | ) | (1,677 | ) | - | (12,058 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | - | (480 | ) | - | - | (480 | ) | |||||||||||||||||
Purchases and other retirements of company stock | - | - | - | - | - | - | |||||||||||||||||||
Dividends paid | (11,297 | ) | - | - | - | - | (11,297 | ) | |||||||||||||||||
Other | 357 | 168 | - | - | - | 525 | |||||||||||||||||||
Net cash used in financing activities | (10,940 | ) | 168 | (480 | ) | - | - | (11,252 | ) | ||||||||||||||||
Effect of exchange rate changes on cash | - | - | - | (4 | ) | - | (4 | ) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | 38,260 | (2,116 | ) | 431 | - | 36,575 | ||||||||||||||||||
Cash and cash equivalents – beginning of period | - | 57,307 | 12,463 | 2,831 | - | 72,601 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 95,567 | $ | 10,347 | $ | 3,262 | $ | - | $ | 109,176 | |||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 20,821 | $ | 24,720 | $ | 12,336 | $ | 3,424 | $ | - | $ | 61,301 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (1,320 | ) | (14,847 | ) | (2,838 | ) | - | (19,005 | ) | |||||||||||||||
Acquisitions | - | - | (770 | ) | - | - | (770 | ) | |||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 61 | 3,222 | - | - | 3,283 | |||||||||||||||||||
Change in restricted cash and investments | - | (17 | ) | - | - | - | (17 | ) | |||||||||||||||||
Purchase of marketable securities | - | (18,247 | ) | - | - | - | (18,247 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 11,165 | - | - | - | 11,165 | |||||||||||||||||||
Other | - | 1,440 | 550 | - | - | 1,990 | |||||||||||||||||||
Net cash used in investing activities | - | (6,918 | ) | (11,845 | ) | (2,838 | ) | - | (21,601 | ) | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | (25,800 | ) | (304 | ) | - | - | (26,104 | ) | ||||||||||||||||
Purchases and other retirements of company stock | - | - | - | - | - | - | |||||||||||||||||||
Dividends paid | (22,220 | ) | - | - | - | - | (22,220 | ) | |||||||||||||||||
Other | 1,399 | 359 | - | - | - | 1,758 | |||||||||||||||||||
Net cash used in financing activities | (20,821 | ) | (25,441 | ) | (304 | ) | - | - | (46,566 | ) | |||||||||||||||
Effect of exchange rate changes on cash | - | - | - | (254 | ) | - | (254 | ) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | (7,639 | ) | 187 | 332 | - | (7,120 | ) | |||||||||||||||||
Cash and cash equivalents – beginning of period | - | 64,946 | 12,276 | 2,499 | - | 79,721 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 57,307 | $ | 12,463 | $ | 2,831 | $ | - | $ | 72,601 | |||||||||||||
ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Year Ended June 30, 2012 | |||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 9,187 | $ | 3,939 | $ | 18,441 | $ | 6,134 | $ | - | $ | 37,701 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (1,952 | ) | (15,721 | ) | (5,211 | ) | - | (22,884 | ) | |||||||||||||||
Acquisitions | - | - | (520 | ) | - | - | (520 | ) | |||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 12 | 1,861 | - | - | 1,873 | |||||||||||||||||||
Change in restricted cash and investments | - | 975 | - | - | - | 975 | |||||||||||||||||||
Purchase of marketable securities | - | (3,647 | ) | - | - | - | (3,647 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 7,230 | - | - | - | 7,230 | |||||||||||||||||||
Other | - | 305 | 511 | - | - | 816 | |||||||||||||||||||
Net cash provided by (used in) investing activities | - | 2,923 | (13,869 | ) | (5,211 | ) | - | (16,157 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | (11,917 | ) | (287 | ) | - | - | (12,204 | ) | ||||||||||||||||
Purchases and other retirements of company stock | (1,350 | ) | - | - | - | - | (1,350 | ) | |||||||||||||||||
Dividends paid | (8,062 | ) | - | - | - | - | (8,062 | ) | |||||||||||||||||
Other | 225 | 238 | 275 | - | - | 738 | |||||||||||||||||||
Net cash used in financing activities | (9,187 | ) | (11,679 | ) | (12 | ) | - | - | (20,878 | ) | |||||||||||||||
Effect of exchange rate changes on cash | - | - | - | 536 | - | 536 | |||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | (4,817 | ) | 4,560 | 1,459 | - | 1,202 | ||||||||||||||||||
Cash and cash equivalents – beginning of period | - | 69,763 | 7,716 | 1,040 | - | 78,519 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 64,946 | $ | 12,276 | $ | 2,499 | $ | - | $ | 79,721 | |||||||||||||
Note_21_Valuation_and_Qualifyi
Note 21 - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
(21) VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
The following table provides information regarding the Company’s sales discounts, sales returns and allowance for doubtful accounts (in thousands): | |||||||||||||||||
Balance at | Additions | Adjustments | Balance at | ||||||||||||||
Beginning | (Reductions) | and/or | End of | ||||||||||||||
of Period | Charged to | Deductions | Period | ||||||||||||||
Income | |||||||||||||||||
Accounts Receivable: | |||||||||||||||||
Sales discounts, sales returns and allowance for doubtful accounts: | |||||||||||||||||
30-Jun-14 | $ | 1,230 | $ | 212 | $ | - | $ | 1,442 | |||||||||
30-Jun-13 | $ | 1,250 | $ | (20 | ) | $ | - | $ | 1,230 | ||||||||
30-Jun-12 | $ | 1,171 | $ | 9 | $ | 70 | $ | 1,250 | |||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation | |
Ethan Allen Interiors Inc. ("Interiors") is a Delaware corporation incorporated on May 25, 1989. The consolidated financial statements include the accounts of Interiors, its wholly-owned subsidiary Ethan Allen Global, Inc. ("Global"), and Global’s subsidiaries (collectively "We," "Us," "Our," "Ethan Allen" or the "Company"). All intercompany accounts and transactions have been eliminated in the consolidated financial statements. All of Global’s capital stock is owned by Interiors, which has no assets or operating results other than those associated with its investment in Global. | |
Our consolidated financial statements include the accounts of an entity in which we are a majority shareholder with the power to direct the activites that most significantly impact the entity’s performance. Noncontrolling interest amounts in the entity are immaterial and included in the Consolidated Statement of Comprehensive Income within interest and other income, net. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Because of the inherent uncertainty involved in making those estimates, actual results could differ from those estimates. Areas in which significant estimates have been made include, but are not limited to, revenue recognition, the allowance for doubtful accounts receivable, inventory obsolescence, tax valuation allowances, useful lives for property, plant and equipment and definite lived intangible assets, goodwill and indefinite lived intangible asset impairment analyses, the evaluation of uncertain tax positions and the fair value of assets acquired and liabilities assumed in business combinations. | |
Reclassification, Policy [Policy Text Block] | ' |
Reclassifications | |
Certain reclassifications have been made to prior years’ financial statements in order to conform to the current year’s presentation. These changes were made for disclosure purposes only and did not have any impact on previously reported results | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash Equivalents | |
Cash and short-term, highly-liquid investments with original maturities of three months or less are considered cash and cash equivalents. We invest excess cash in money market accounts, short-term commercial paper, and U.S. Treasury Bills. | |
Inventory, Policy [Policy Text Block] | ' |
Inventories | |
Inventories are stated at the lower of cost (first-in, first-out) or market. Cost is determined based solely on those charges incurred in the acquisition and production of the related inventory (i.e. material, labor and manufacturing overhead costs). | |
Marketable Securities, Policy [Policy Text Block] | ' |
Marketable Securities | |
The Company’s investments are classified at the time of purchase as either available-for-sale or held-to-maturity, and reassessed as of each balance sheet date. Our marketable securities consist of available-for-sale securities, and are marked-to-market based on prices provided by our investment advisors, with unrealized gains and temporary unrealized losses reported as a component of other comprehensive income net of tax, until realized. When realized, the Company recognizes gains and losses on the sales of the securities on a specific identification method and includes the realized gains or losses in other income, net, in the consolidated statements of operations. The Company includes interest, dividends, and amortization of premium or discount on securities classified as available-for-sale in other income, net in the consolidated statements of operations. We also evaluate our available-for-sale securities to determine whether a decline in fair value of a security below the amortized cost basis is other than temporary. Should the decline be considered other than temporary, we write down the cost of the security and include the loss in earnings. In making this determination we consider such factors as the reason for and significance of the decline, current economic conditions, the length of time for which there has been an unrealized loss, the time to maturity, and other relevant information. Available-for-sale securities are classified as either short-term or long-term based on management’s intention of when to sell the securities. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation of plant and equipment is provided over the estimated useful lives of the respective assets on a straight-line basis. Estimated useful lives of the respective assets typically range from twenty to forty years for buildings and improvements and from three to twenty years for machinery and equipment. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter. | |
Lease, Policy [Policy Text Block] | ' |
Operating Leases | |
We record expense for operating leases by recognizing the minimum lease payments on a straight-line basis, beginning on the date that the lessee takes possession or control of the property. A number of our operating lease agreements contain provisions for tenant improvement allowances, rent holidays, rent concessions, and/or rent escalations. | |
Incentive payments received from landlords are recorded as deferred lease incentives and are amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. When the terms of an operating lease provide for periods of free rent, rent concessions, and/or rent escalations, we establish a deferred rent liability for the difference between the scheduled rent payment and the straight-line rent expense recognized. This deferred rent liability is also amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. | |
Business Combinations Policy [Policy Text Block] | ' |
Retail Design Center Acquisitions | |
We account for the acquisition of retail design centers and related assets with the purchase method. Accounting for these transactions as purchase business combinations requires the allocation of purchase price paid to the assets acquired and liabilities assumed based on their fair values as of the date of the acquisition. The amount paid in excess of the fair value of net assets acquired is accounted for as goodwill. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' |
Goodwill and Other Intangible Assets | |
Our intangible assets are comprised primarily of goodwill, which represents the excess of cost over the fair value of net assets acquired, and trademarks. We determined these assets have indefinite useful lives, and are therefore not amortized. | |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ' |
Impairment of Long-Lived Assets and Goodwill | |
Goodwill and other indefinite-lived intangible assets are evaluated for impairment on an annual basis during the fourth quarter of each fiscal year, and between annual tests whenever events or circumstances indicate that the carrying value of the goodwill or other intangible asset may exceed its fair value. When testing goodwill for impairment, we may assess qualitative factors for some or all of our reporting units to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. Alternatively, we may bypass this qualitative assessment for some or all of our reporting units and determine whether the carrying value exceeds the fair value using a quantitative assessment as described below. | |
The recoverability of long-lived assets are evaluated for impairment by determining whether the carrying value will be recovered through the expected undiscounted future cash flows resulting from the use of the asset. In the event the sum of the expected undiscounted future cash flows is less than the carrying value of the asset, an impairment loss equal to the excess of the asset’s carrying value over its fair value is recorded. The long-term nature of these assets requires the estimation of cash inflows and outflows several years into the future and only takes into consideration technological advances known at the time of the impairment test. | |
To evaluate goodwill using a quantitative assessment, the Company determines the current fair value of the reporting units using a combination of “Market” and “Income” approaches. In the Market approach, the “Guideline Company” method is used, which focuses on comparing the Company’s risk profile and growth prospects to reasonably similar publicly traded companies. Key assumptions used for the Guideline Company method are total invested capital (“TIC”) multiples for revenues and operating cash flows, as well as consideration of control premiums. The TIC multiples are determined based on public furniture companies within our peer group, and if appropriate, recent comparable transactions are considered. Control premiums are determined using recent comparable transactions in the open market. Under the Income approach, a discounted cash flow method is used, which includes a terminal value, and is based on external analyst financial projection estimates, as well as internal financial projection estimates prepared by management. The long-term terminal growth rate assumptions reflect our current long-term view of the market in which we compete. Discount rates use the weighted average cost of capital for companies within our peer group, adjusted for specific company risk premium factors. | |
The fair value of our trade name, which is the Company’s only indefinite-lived intangible asset other than goodwill, is valued using the relief-from-royalty method. Significant factors used in trade name valuation are rates for royalties, future growth, and a discount factor. Royalty rates are determined using an average of recent comparable values. Future growth rates are based on the Company’s perception of the long-term values in the market in which we compete, and the discount rate is determined using the weighted average cost of capital for companies within our peer group, adjusted for specific company risk premium factors. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Financial Instruments | |
Because of their short-term nature, the carrying value of our cash and cash equivalents, receivables and payables, short-term debt and customer deposit liabilities approximates fair value. Substantially all of our long-term debt consists of our Senior Notes, the estimated fair value of which is $133.3 million at June 30, 2014 and $133.9 million at June 30, 2013, as compared to a carrying value on those dates of $129.3 million and $129.2 million, respectively. | |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. | |
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance must be established for deferred tax assets when it is more likely than not that the assets will not be realized. | |
We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Most of the unrecognized tax benefits, if recognized, would be recorded as a benefit to income tax expense. | |
The liability associated with an unrecognized tax benefit is classified as a long-term liability except for the amount for which a cash payment is expected to be made or tax positions settled within one year. We recognize interest and penalties related to income tax matters as a component of income tax expense. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition | |
Revenue is recognized when all of the following have occurred: persuasive evidence of a sales arrangement exists (e.g. a wholesale purchase order or retail sales invoice); the sales arrangement specifies a fixed or determinable sales price; title and risk of ownership has passed to the customer; no specific performance obligations remain; product is shipped or services are provided to the customer or a fixed schedule of delivery is agreed upon and in place; collectability is reasonably assured. As such, revenue recognition generally occurs upon the shipment of goods to independent retailers or, in the case of Ethan Allen operated retail design centers, upon delivery to the customer. If shipping is billed to customers, this is included in revenue. Recorded sales provide for estimated returns and allowances. We permit our customers to return defective products and incorrect shipments, and terms we offer are standard for the industry. | |
Shipping and Handling Cost, Policy [Policy Text Block] | ' |
Shipping and Handling Costs | |
Our practice has been to sell our products at the same delivered cost to all retailers nationwide, regardless of shipping point. Costs incurred by the Company to deliver finished goods are expensed and recorded in selling, general and administrative expenses. Shipping and handling costs amounted to $67.1 million in fiscal year 2014, $62.3 million for fiscal 2013 and $62.0 million in fiscal 2012. | |
Advertising Costs, Policy [Policy Text Block] | ' |
Advertising Costs | |
Advertising costs are expensed when first aired or distributed. Our total advertising costs were $29.4 million in fiscal year 2014 and $29.8 million in fiscal years 2013 and 2012. These amounts are presented net of proceeds received by us under our agreement with the third-party financial institution responsible for administering our consumer finance programs. Prepaid advertising costs at June 30, 2014 totaled $0.6 million compared to $1.6 million at June 30, 2013. | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Earnings Per Share | |
We compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated similarly, except that the weighted average outstanding shares are adjusted to include the effects of converting all potentially dilutive share-based awards issued under our employee stock plans (see Notes 9 and 10). Certain unvested share-based payment awards are participating securities because they contain rights to receive non-forfeitable dividends (if paid), and are included in the two-class method of computing earnings per share. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
Share-Based Compensation | |
We estimate, as of the date of grant, the fair value of stock options awarded using the Black-Scholes option-pricing model. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs, including anticipated changes in the underlying stock price (i.e. expected volatility) and option exercise activity (i.e. expected life). Expected volatility is based on the historical volatility of our stock and other contributing factors. The expected life of options granted, which represents the period of time that the options are expected to be outstanding, is based, primarily, on historical data. | |
Share-based compensation expense is included in the Consolidated Statements of Operations within selling, general and administrative expenses. Tax benefits associated with our share-based compensation arrangements are included in the Consolidated Statements of Operations within income tax expense. | |
All shares of our common stock received in connection with the exercise of share-based awards have been recorded as treasury stock and result in a reduction in shareholders’ equity. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Translation | |
The functional currency of each Company operated foreign location is the respective local currency. Assets and liabilities are translated into United States dollars using the current period-end exchange rate and income and expense amounts are translated using the average exchange rate for the period in which the transaction occurred. Resulting translation adjustments are reported as a component of accumulated other comprehensive income within shareholders’ equity. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. This amended guidance will enhance the comparability of revenue recognition practices and will be applied to all contracts with customers. Expanded disclosures related to the nature, amount, timing, and uncertainty of revenue that is recognized are requirements under the amended guidance. This guidance will be effective for fiscal 2018 and may be applied retrospectively. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. |
Note_3_Inventories_Tables
Note 3 - Inventories (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
2014 | 2013 | ||||||||
Finished goods | $ | 116,377 | $ | 110,220 | |||||
Work in process | 8,355 | 6,961 | |||||||
Raw materials | 24,347 | 22,787 | |||||||
Valuation allowance | (2,804 | ) | (2,712 | ) | |||||
$ | 146,275 | $ | 137,256 |
Note_4_Property_Plant_and_Equi1
Note 4 - Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
2014 | 2013 | ||||||||
Land and improvements | $ | 88,296 | $ | 89,091 | |||||
Building and improvements | 389,022 | 388,628 | |||||||
Machinery and equipment | 124,391 | 116,666 | |||||||
601,709 | 594,385 | ||||||||
Less: accumulated depreciation and amortization | (313,553 | ) | (302,713 | ) | |||||
$ | 288,156 | $ | 291,672 |
Note_6_Borrowings_Tables
Note 6 - Borrowings (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
2014 | 2013 | ||||||||
5.375% Senior Notes due 2015 | $ | 129,255 | $ | 129,152 | |||||
Capital leases and other | 1,657 | 2,137 | |||||||
Total debt | 130,912 | 131,289 | |||||||
Less curent maturities | 501 | 480 | |||||||
Total long-term debt | $ | 130,411 | $ | 130,809 | |||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||
Fiscal Year Ended June 30 | 2014 | ||||||||
2015 | $ | 501 | |||||||
2016 | 129,778 | ||||||||
2017 | 474 | ||||||||
2018 | 159 | ||||||||
2019 | - | ||||||||
Subsequent to 2019 | - | ||||||||
Total scheduled debt payments | $ | 130,912 |
Note_7_Leases_Tables
Note 7 - Leases (Tables) | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Leases [Abstract] | ' | ||||||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||||||
Fiscal Year Ended June 30, 2014 | |||||||||||||
Minimum | Minimum | ||||||||||||
Future | Future | ||||||||||||
Lease | Sublease | ||||||||||||
Payments | Rentals | ||||||||||||
2015 | $ | 30,744 | $ | 2,452 | |||||||||
2016 | 27,222 | 1,685 | |||||||||||
2017 | 23,987 | 1,552 | |||||||||||
2018 | 22,245 | 1,451 | |||||||||||
2019 | 18,571 | 900 | |||||||||||
Subsequent to 2019 | 72,376 | 1,888 | |||||||||||
Total | $ | 195,145 | $ | 9,928 | |||||||||
Schedule of Rent Expense [Table Text Block] | ' | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic rentals under operating leases | $ | 28,653 | $ | 30,014 | $ | 30,895 | |||||||
Contingent rentals under operating leases | 231 | 75 | 109 | ||||||||||
28,884 | 30,089 | 31,004 | |||||||||||
Less: sublease rent | (2,494 | ) | (2,034 | ) | (1,656 | ) | |||||||
Total rent expense | $ | 26,390 | $ | 28,055 | $ | 29,348 |
Note_8_Shareholders_Equity_Tab
Note 8 - Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Common shares repurchased | - | - | 79,293 | ||||||||||
Cost to repurchase common shares | $ | - | $ | - | $ | 1,349,557 | |||||||
Average price per share | $ | - | $ | - | $ | 17.02 |
Note_9_Earnings_per_Share_Tabl
Note 9 - Earnings per Share (Tables) | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Weighted average common shares outstanding for basic calculation | 28,918 | 28,864 | 28,824 | ||||||||||||
Effect of dilutive stock options and other share-based awards | 358 | 375 | 285 | ||||||||||||
Weighted average common shares outstanding adjusted for dilution calculation | 29,276 | 29,239 | 29,109 |
Note_10_ShareBased_Compensatio1
Note 10 - Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Volatility | 56.3 | % | 56.5 | % | 45.1 | % | |||||||||||
Risk-free rate of return | 1.52 | % | 0.8 | % | 1.92 | % | |||||||||||
Dividend yield | 1.55 | % | 1.64 | % | 2 | % | |||||||||||
Expected average life (years) | 5.2 | 5.8 | 9.6 | ||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Options | Shares | Weighted | Weighted | Aggregate | |||||||||||||
Average | Average | Intrinsic Value | |||||||||||||||
Exercise | Remaining | ||||||||||||||||
Price | Contractual | ||||||||||||||||
Term (yrs) | |||||||||||||||||
Outstanding - June 30, 2013 | 1,636,494 | $ | 26.54 | ||||||||||||||
Granted | 172,499 | 25.83 | |||||||||||||||
Exercised | (20,553 | ) | 17.37 | ||||||||||||||
Canceled (forfeited/expired) | (465,064 | ) | 34.9 | ||||||||||||||
Outstanding - June 30, 2014 | 1,323,376 | 23.65 | 5 | $ | 6,319,869 | ||||||||||||
Exercisable - June 30, 2014 | 992,699 | $ | 24.58 | 3.8 | $ | 4,816,501 | |||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||
Options | Shares | Weighted Average | |||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Nonvested June 30, 2013 | 303,207 | $ | 6.9 | ||||||||||||||
Granted | 172,499 | 11.42 | |||||||||||||||
Vested | (118,815 | ) | 6.61 | ||||||||||||||
Canceled (forfeited/expired) | (26,214 | ) | 10.21 | ||||||||||||||
Nonvested at June 30, 2014 | 330,677 | $ | 9.1 | ||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||
Restricted Awards | Shares | Weighted | |||||||||||||||
Average | |||||||||||||||||
Grant Date | |||||||||||||||||
Fair Value | |||||||||||||||||
Nonvested - June 30, 2013 | 86,812 | $ | 15.09 | ||||||||||||||
Granted | - | ||||||||||||||||
Vested | (33,906 | ) | 15.67 | ||||||||||||||
Canceled (forfeited/expired) | (906 | ) | 18.4 | ||||||||||||||
Nonvested - June 30, 2014 | 52,000 | $ | 14.66 |
Note_11_Income_Taxes_Tables
Note 11 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Note 11 - Income Taxes (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Current: | |||||||||||||||||||||||||
Federal | $ | 20,693 | $ | 13,305 | $ | 13,086 | |||||||||||||||||||
State | 1,900 | 1,822 | (1,433 | ) | |||||||||||||||||||||
Foreign | 60 | 125 | 57 | ||||||||||||||||||||||
Total current | 22,653 | 15,252 | 11,710 | ||||||||||||||||||||||
Deferred: | |||||||||||||||||||||||||
Federal | (941 | ) | 1,798 | (20,896 | ) | ||||||||||||||||||||
State | (1,921 | ) | 669 | 591 | |||||||||||||||||||||
Foreign | (320 | ) | (23 | ) | 140 | ||||||||||||||||||||
Total deferred | (3,182 | ) | 2,444 | (20,165 | ) | ||||||||||||||||||||
Income Tax Expense (Benefit) | $ | 19,471 | $ | 17,696 | $ | (8,455 | ) | ||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Expected Income Tax Expense | $ | 21,841 | 35 | % | $ | 17,561 | 35 | % | $ | 14,434 | 35 | % | |||||||||||||
State income taxes, net of federal income tax | 2,209 | 3.5 | % | 1,467 | 2.9 | % | 1,038 | 2.5 | % | ||||||||||||||||
Valuation allowance | (1,540 | ) | -2.5 | % | 631 | 1.3 | % | (21,237 | ) | -51.5 | % | ||||||||||||||
Section 199 Qualified Production Activities deduction | (1,342 | ) | -2.2 | % | (1,157 | ) | -2.3 | % | (1,001 | ) | -2.4 | % | |||||||||||||
Unrecognized tax expense (benefit) | (904 | ) | -1.4 | % | 30 | 0.1 | % | (1,483 | ) | -3.6 | % | ||||||||||||||
Other, net | (793 | ) | -1.3 | % | (836 | ) | -1.7 | % | (206 | ) | -0.5 | % | |||||||||||||
Actual income tax expense (benefit) | $ | 19,471 | 31.2 | % | $ | 17,696 | 35.3 | % | $ | (8,455 | ) | -20.5 | % | ||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Accounts receivable | $ | 557 | $ | 463 | |||||||||||||||||||||
Inventories | 223 | - | |||||||||||||||||||||||
Employee compensation accruals | 5,168 | 5,057 | |||||||||||||||||||||||
Stock based compensation | 2,468 | 2,342 | |||||||||||||||||||||||
Deferred rent credits | 5,695 | 5,071 | |||||||||||||||||||||||
Restructuring charges | 465 | 622 | |||||||||||||||||||||||
Net operating loss carryforwards | 4,004 | 3,592 | |||||||||||||||||||||||
Goodwill | 3,870 | 5,020 | |||||||||||||||||||||||
Other, net | 2,693 | 3,053 | |||||||||||||||||||||||
Total deferred tax assets | 25,143 | 25,220 | |||||||||||||||||||||||
Less: Valuation allowance | (1,408 | ) | (2,948 | ) | |||||||||||||||||||||
Net deferred tax assets | 23,735 | 22,272 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Inventories | - | 775 | |||||||||||||||||||||||
Property, plant and equipment | 622 | 1,121 | |||||||||||||||||||||||
Intangible assets other than goodwill | 14,306 | 14,264 | |||||||||||||||||||||||
Commissions | 3,274 | 3,590 | |||||||||||||||||||||||
Other, net | - | 20 | |||||||||||||||||||||||
Total deferred tax liability | 18,202 | 19,770 | |||||||||||||||||||||||
Total net deferred tax asset | $ | 5,533 | $ | 2,502 | |||||||||||||||||||||
Schedule Of Deferred Tax Assets Expiration With Respect To Net Operating Losses [Table Text Block] | ' | ||||||||||||||||||||||||
Income | Loss | ||||||||||||||||||||||||
Tax Assets | Carryforwards | ||||||||||||||||||||||||
United States (State), expiring between 2015 and 2032 | $ | 1,862 | $ | 39,649 | |||||||||||||||||||||
Foreign, Expiring between 2029 and 2033 | 2,142 | 6,850 | |||||||||||||||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Beginning balance | $ | 6,843 | $ | 7,369 | |||||||||||||||||||||
Additions for tax positions taken | 1,642 | 1,227 | |||||||||||||||||||||||
Reductions for tax positions taken in prior years | (2,853 | ) | (1,351 | ) | |||||||||||||||||||||
Settlements | (933 | ) | (402 | ) | |||||||||||||||||||||
Ending balance | $ | 4,699 | $ | 6,843 | |||||||||||||||||||||
Other Assets [Member] | ' | ||||||||||||||||||||||||
Note 11 - Income Taxes (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||||||
Current assets | $ | 4,028 | $ | 2,876 | |||||||||||||||||||||
Non-current assets | 4,440 | 251 | |||||||||||||||||||||||
Current liabilities | - | - | |||||||||||||||||||||||
Non-current liabilities | 2,935 | 625 | |||||||||||||||||||||||
Total net deferred tax asset | $ | 5,533 | $ | 2,502 |
Note_14_Accumulated_Other_Comp1
Note 14 - Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||
Foreign | Derivative | Unrealized | Total | ||||||||||||||
currency | instruments | gains and | |||||||||||||||
translation | losses on | ||||||||||||||||
adjustments | investments | ||||||||||||||||
Balance June30, 2013 | $ | 747 | $ | (69 | ) | $ | 6 | $ | 684 | ||||||||
Changes before reclassifications | $ | (77 | ) | $ | - | $ | 5 | $ | (72 | ) | |||||||
Amounts reclassified from accumulated other comprehensive income | $ | - | $ | 30 | $ | - | $ | 30 | |||||||||
Current period other comprehensive income | $ | (77 | ) | $ | 30 | $ | 5 | $ | (42 | ) | |||||||
Balance June30, 2014 | $ | 670 | $ | (39 | ) | $ | 11 | $ | 642 |
Note_15_Segment_Information_Ta
Note 15 - Segment Information (Tables) | 12 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Note 15 - Segment Information (Tables) [Line Items] | ' | |||||||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | |||||||||||||
Fiscal Year Ended June 30, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Case Goods | 36 | % | 37 | % | 38 | % | ||||||||
Upholstered Products | 48 | % | 48 | % | 44 | % | ||||||||
Home Accessories and Other | 16 | % | 15 | % | 18 | % | ||||||||
100 | % | 100 | % | 100 | % | |||||||||
Income Statement Section One [Member] | ' | |||||||||||||
Note 15 - Segment Information (Tables) [Line Items] | ' | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Net sales: | ||||||||||||||
Wholesale segment | $ | 453,607 | $ | 434,439 | $ | 456,915 | ||||||||
Retail segment | 580,739 | 578,284 | 559,417 | |||||||||||
Elimination of inter-company sales | (287,687 | ) | (283,640 | ) | (286,959 | ) | ||||||||
Consolidated Total | $ | 746,659 | $ | 729,083 | $ | 729,373 | ||||||||
Operating income (loss): | ||||||||||||||
Wholesale segment | $ | 57,816 | $ | 50,843 | $ | 64,436 | ||||||||
Retail segment | 10,515 | 8,016 | (11,522 | ) | ||||||||||
Adjustment of inter-company profit (1) | 1,305 | 1,578 | (3,217 | ) | ||||||||||
Consolidated Total | $ | 69,636 | $ | 60,437 | $ | 49,697 | ||||||||
Depreciation & Amortization: | ||||||||||||||
Wholesale segment | $ | 7,887 | $ | 8,166 | $ | 7,525 | ||||||||
Retail segment | 10,043 | 9,842 | 11,056 | |||||||||||
Consolidated Total | $ | 17,930 | $ | 18,008 | $ | 18,581 | ||||||||
Capital expenditures: | ||||||||||||||
Wholesale segment | $ | 11,013 | $ | 7,024 | $ | 12,168 | ||||||||
Retail segment | 8,292 | 11,981 | 10,716 | |||||||||||
Acquisitions | - | 770 | 520 | |||||||||||
Consolidated Total | $ | 19,305 | $ | 19,775 | $ | 23,404 | ||||||||
Independently Owned Foreign Design Centers [Member] | ' | |||||||||||||
Note 15 - Segment Information (Tables) [Line Items] | ' | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||
Fiscal Year Ended June 30, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Independent design centers | 91 | 86 | 87 | |||||||||||
Company operated design centers | 8 | 8 | 5 | |||||||||||
Total international design centers | 99 | 94 | 92 | |||||||||||
Percentage of consolidated net sales | 10.6 | % | 8.9 | % | 10.2 | % | ||||||||
Total Assets [Member] | ' | |||||||||||||
Note 15 - Segment Information (Tables) [Line Items] | ' | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||
30-Jun | 30-Jun | 30-Jun | ||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Total Assets: | ||||||||||||||
Wholesale segment | $ | 339,271 | $ | 291,942 | $ | 309,573 | ||||||||
Retail segment | 344,025 | 355,233 | 366,594 | |||||||||||
Inventory profit elimination (2) | (28,862 | ) | (29,890 | ) | (31,379 | ) | ||||||||
Consolidated Total | $ | 654,434 | $ | 617,285 | $ | 644,788 |
Note_16_Selected_Quarterly_Fin1
Note 16 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
Quarter Ended | |||||||||||||||||
30-Sep | 31-Dec | 31-Mar | 30-Jun | ||||||||||||||
Fiscal 2014: | |||||||||||||||||
Net Sales | $ | 181,659 | $ | 193,104 | $ | 173,061 | $ | 198,835 | |||||||||
Gross profit | 98,743 | 105,999 | 93,130 | 108,624 | |||||||||||||
Net income | 9,034 | 11,555 | 5,258 | 17,084 | |||||||||||||
Earnings per basic share | 0.31 | 0.4 | 0.18 | 0.59 | |||||||||||||
Earnings per diluted share | 0.31 | 0.39 | 0.18 | 0.58 | |||||||||||||
Dividends declared per common share | 0.1 | 0.1 | 0.1 | 0.1 | |||||||||||||
Fiscal 2013: | |||||||||||||||||
Net Sales | $ | 187,437 | $ | 191,251 | $ | 168,144 | $ | 182,251 | |||||||||
Gross profit | 104,253 | 103,967 | 91,785 | 98,344 | |||||||||||||
Net income | 10,064 | 9,846 | 4,374 | 8,194 | |||||||||||||
Earnings per basic share | 0.35 | 0.34 | 0.15 | 0.28 | |||||||||||||
Earnings per diluted share | 0.35 | 0.34 | 0.15 | 0.28 | |||||||||||||
Dividends declared per common share | 0.09 | 0.5 | 0.09 | 0.09 | |||||||||||||
Fiscal 2012: | |||||||||||||||||
Net Sales | $ | 184,921 | $ | 183,275 | $ | 175,861 | $ | 185,316 | |||||||||
Gross profit | 97,885 | 98,219 | 94,275 | 99,909 | |||||||||||||
Net income | 6,770 | 8,077 | 27,548 | 7,299 | |||||||||||||
Earnings per basic share | 0.24 | 0.28 | 0.95 | 0.25 | |||||||||||||
Earnings per diluted share | 0.23 | 0.28 | 0.94 | 0.25 | |||||||||||||
Dividends declared per common share | 0.07 | 0.07 | 0.07 | 0.09 |
Note_17_Financial_Instruments_
Note 17 - Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
30-Jun-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance | ||||||||||||||
Cash equivalents | $ | 117,683 | $ | - | $ | - | $ | 117,683 | |||||||||
Available-for-sale securities | - | 18,153 | - | 18,153 | |||||||||||||
Total | $ | 117,683 | $ | 18,153 | $ | - | $ | 135,836 | |||||||||
30-Jun-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Balance | ||||||||||||||
Cash equivalents | $ | 88,034 | $ | - | $ | - | $ | 88,034 | |||||||||
Available-for-sale securities | - | 15,529 | - | 15,529 | |||||||||||||
Total | $ | 88,034 | $ | 15,529 | $ | - | $ | 103,563 | |||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||
Amortized | Fair | ||||||||||||||||
Cost Basis | Value | ||||||||||||||||
2014 | $ | 17,909 | $ | 18,153 | |||||||||||||
2013 | $ | 15,314 | $ | 15,529 | |||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||
30-Jun-14 | |||||||||||||||||
Cost | Estimated | ||||||||||||||||
Fair Value | |||||||||||||||||
Due in one year or less | $ | 16,049 | $ | 15,863 | |||||||||||||
Due after one year through five years | $ | 2,296 | $ | 2,290 | |||||||||||||
30-Jun-13 | |||||||||||||||||
Cost | Estimated | ||||||||||||||||
Fair Value | |||||||||||||||||
Due in one year or less | $ | 13,213 | $ | 13,067 | |||||||||||||
Due after one year through five years | $ | 2,463 | $ | 2,462 |
Note_20_Financial_Information_1
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 95,567 | $ | 10,347 | $ | 3,262 | $ | - | $ | 109,176 | |||||||||||||
Marketable securities | - | 18,153 | - | - | - | 18,153 | |||||||||||||||||||
Accounts receivable, net | - | 12,118 | 308 | - | - | 12,426 | |||||||||||||||||||
Inventories | - | - | 168,996 | 6,141 | (28,862 | ) | 146,275 | ||||||||||||||||||
Prepaid expenses and other current assets | - | 6,954 | 10,800 | 1,845 | - | 19,599 | |||||||||||||||||||
Intercompany receivables | - | 836,086 | 322,382 | (3,478 | ) | (1,154,990 | ) | - | |||||||||||||||||
Total current assets | - | 968,878 | 512,833 | 7,770 | (1,183,852 | ) | 305,629 | ||||||||||||||||||
Property, plant and equipment, net | - | 8,848 | 262,272 | 17,036 | - | 288,156 | |||||||||||||||||||
Goodwill and other intangible assets | - | 37,905 | 7,223 | - | - | 45,128 | |||||||||||||||||||
Restricted cash and investments | - | 8,507 | - | - | - | 8,507 | |||||||||||||||||||
Other assets | - | 4,620 | 1,647 | 747 | - | 7,014 | |||||||||||||||||||
Investment in affiliated companies | 731,003 | (107,050 | ) | - | - | (623,953 | ) | - | |||||||||||||||||
Total assets | $ | 731,003 | $ | 921,708 | $ | 783,975 | $ | 25,553 | $ | (1,807,805 | ) | $ | 654,434 | ||||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current maturities of long-term debt | $ | - | $ | - | $ | 501 | $ | - | $ | - | $ | 501 | |||||||||||||
Customer deposits | - | - | 55,810 | 3,874 | - | 59,684 | |||||||||||||||||||
Accounts payable | - | 6,423 | 17,699 | 198 | - | 24,320 | |||||||||||||||||||
Accrued expenses and other current liabilities | 3,013 | 30,656 | 16,292 | 1,581 | - | 51,542 | |||||||||||||||||||
Intercompany payables | 360,523 | (8,468 | ) | 773,850 | 29,085 | (1,154,990 | ) | - | |||||||||||||||||
Total current liabilities | 363,536 | 28,611 | 864,152 | 34,738 | (1,154,990 | ) | 136,047 | ||||||||||||||||||
Long-term debt | - | 129,255 | 1,156 | - | - | 130,411 | |||||||||||||||||||
Other long-term liabilities | - | 4,241 | 15,763 | 505 | - | 20,509 | |||||||||||||||||||
Total liabilities | 363,536 | 162,107 | 881,071 | 35,243 | (1,154,990 | ) | 286,967 | ||||||||||||||||||
Shareholders’ equity | 367,467 | 759,601 | (97,096 | ) | (9,690 | ) | (652,815 | ) | 367,467 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 731,003 | $ | 921,708 | $ | 783,975 | $ | 25,553 | $ | (1,807,805 | ) | $ | 654,434 | ||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 57,307 | $ | 12,463 | $ | 2,831 | $ | - | $ | 72,601 | |||||||||||||
Marketable securities | - | 15,529 | - | - | - | 15,529 | |||||||||||||||||||
Accounts receivable, net | - | 12,061 | 212 | 4 | - | 12,277 | |||||||||||||||||||
Inventories | - | - | 161,683 | 5,463 | (29,890 | ) | 137,256 | ||||||||||||||||||
Prepaid expenses and other current assets | - | 9,882 | 11,275 | 1,750 | - | 22,907 | |||||||||||||||||||
Intercompany receivables | - | 831,238 | 302,577 | (3,726 | ) | (1,130,089 | ) | - | |||||||||||||||||
Total current assets | - | 926,017 | 488,210 | 6,322 | (1,159,979 | ) | 260,570 | ||||||||||||||||||
Property, plant and equipment, net | - | 9,432 | 265,698 | 16,542 | - | 291,672 | |||||||||||||||||||
Goodwill and other intangible assets | - | 37,905 | 7,223 | - | - | 45,128 | |||||||||||||||||||
Restricted cash and investments | - | 15,433 | - | - | - | 15,433 | |||||||||||||||||||
Other assets | - | 2,188 | 1,488 | 806 | - | 4,482 | |||||||||||||||||||
Investment in affiliated companies | 686,451 | (111,647 | ) | - | - | (574,804 | ) | - | |||||||||||||||||
Total assets | $ | 686,451 | $ | 879,328 | $ | 762,619 | $ | 23,670 | $ | (1,734,783 | ) | $ | 617,285 | ||||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current maturities of long-term debt | $ | - | $ | - | $ | 480 | $ | - | $ | - | $ | 480 | |||||||||||||
Customer deposits | - | - | 56,030 | 3,068 | - | 59,098 | |||||||||||||||||||
Accounts payable | - | 7,390 | 15,097 | 508 | - | 22,995 | |||||||||||||||||||
Accrued expenses and other current liabilities | 2,720 | 29,710 | 16,683 | 1,253 | - | 50,366 | |||||||||||||||||||
Intercompany payables | 349,374 | (7,460 | ) | 766,039 | 22,136 | (1,130,089 | ) | - | |||||||||||||||||
Total current liabilities | 352,094 | 29,640 | 854,329 | 26,965 | (1,130,089 | ) | 132,939 | ||||||||||||||||||
Long-term debt | - | 129,152 | 1,657 | - | - | 130,809 | |||||||||||||||||||
Other long-term liabilities | - | 4,492 | 14,355 | 333 | - | 19,180 | |||||||||||||||||||
Total liabilities | 352,094 | 163,284 | 870,341 | 27,298 | (1,130,089 | ) | 282,928 | ||||||||||||||||||
Shareholders’ equity | 334,357 | 716,044 | (107,722 | ) | (3,628 | ) | (604,694 | ) | 334,357 | ||||||||||||||||
Total liabilities and shareholders’ equity | $ | 686,451 | $ | 879,328 | $ | 762,619 | $ | 23,670 | $ | (1,734,783 | ) | $ | 617,285 | ||||||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 446,666 | $ | 798,442 | $ | 42,250 | $ | (540,699 | ) | $ | 746,659 | ||||||||||||
Cost of sales | - | 340,572 | 513,106 | 28,212 | (541,727 | ) | 340,163 | ||||||||||||||||||
Gross profit | - | 106,094 | 285,336 | 14,038 | 1,028 | 406,496 | |||||||||||||||||||
Selling, general and administrative expenses | 180 | 47,367 | 269,519 | 19,794 | - | 336,860 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 58,727 | 15,817 | (5,756 | ) | 1,028 | 69,636 | |||||||||||||||||
Interest and other miscellaneous income, net | 43,111 | 4,990 | (95 | ) | (22 | ) | (47,708 | ) | 276 | ||||||||||||||||
Interest and other related financing costs | - | 7,429 | 81 | - | - | 7,510 | |||||||||||||||||||
Income before income tax expense | 42,931 | 56,288 | 15,641 | (5,778 | ) | (46,680 | ) | 62,402 | |||||||||||||||||
Income tax expense (benefit) | - | 14,205 | 5,080 | 186 | - | 19,471 | |||||||||||||||||||
Net income/(loss) | $ | 42,931 | $ | 42,083 | $ | 10,561 | $ | (5,964 | ) | $ | (46,680 | ) | $ | 42,931 | |||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 434,741 | $ | 796,194 | $ | 38,181 | $ | (540,033 | ) | $ | 729,083 | ||||||||||||
Cost of sales | - | 327,723 | 520,570 | 23,963 | (541,522 | ) | 330,734 | ||||||||||||||||||
Gross profit | - | 107,018 | 275,624 | 14,218 | 1,489 | 398,349 | |||||||||||||||||||
Selling, general and administrative expenses | 180 | 46,620 | 272,794 | 18,318 | - | 337,912 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 60,398 | 2,830 | (4,100 | ) | 1,489 | 60,437 | |||||||||||||||||
Interest and other miscellaneous income, net | 32,658 | (4,229 | ) | 38 | (75 | ) | (29,877 | ) | (1,485 | ) | |||||||||||||||
Interest and other related financing costs | - | 8,709 | 69 | - | - | 8,778 | |||||||||||||||||||
Income before income tax expense | 32,478 | 47,460 | 2,799 | (4,175 | ) | (28,388 | ) | 50,174 | |||||||||||||||||
Income tax expense (benefit) | - | 16,291 | 1,320 | 85 | - | 17,696 | |||||||||||||||||||
Net income/(loss) | $ | 32,478 | $ | 31,169 | $ | 1,479 | $ | (4,260 | ) | $ | (28,388 | ) | $ | 32,478 | |||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net sales | $ | - | $ | 456,895 | $ | 787,295 | $ | 33,417 | $ | (548,234 | ) | $ | 729,373 | ||||||||||||
Cost of sales | - | 341,365 | 523,064 | 19,311 | (544,655 | ) | 339,085 | ||||||||||||||||||
Gross profit | - | 115,530 | 264,231 | 14,106 | (3,579 | ) | 390,288 | ||||||||||||||||||
Selling, general and administrative expenses | 180 | 45,690 | 280,480 | 14,241 | - | 340,591 | |||||||||||||||||||
Operating income (loss) | (180 | ) | 69,840 | (16,249 | ) | (135 | ) | (3,579 | ) | 49,697 | |||||||||||||||
Interest and other miscellaneous income, net | 49,874 | (15,403 | ) | 216 | 17 | (34,142 | ) | 562 | |||||||||||||||||
Interest and other related financing costs | - | 8,997 | 23 | - | - | 9,020 | |||||||||||||||||||
Income before income tax expense | 49,694 | 45,440 | (16,056 | ) | (118 | ) | (37,721 | ) | 41,239 | ||||||||||||||||
Income tax expense (benefit) | - | (8,013 | ) | (523 | ) | 81 | - | (8,455 | ) | ||||||||||||||||
Net income/(loss) | $ | 49,694 | $ | 53,453 | $ | (15,533 | ) | $ | (199 | ) | $ | (37,721 | ) | $ | 49,694 | ||||||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 10,940 | $ | 34,812 | $ | 12,025 | $ | 2,112 | $ | - | $ | 59,889 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (610 | ) | (17,018 | ) | (1,677 | ) | - | (19,305 | ) | |||||||||||||||
Acquisitions | - | - | - | - | - | - | |||||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 24 | 3,357 | - | - | 3,381 | |||||||||||||||||||
Change in restricted cash and investments | - | 6,926 | - | - | - | 6,926 | |||||||||||||||||||
Purchase of marketable securities | - | (18,268 | ) | - | - | - | (18,268 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 14,883 | - | - | - | 14,883 | |||||||||||||||||||
Other | - | 325 | - | - | - | 325 | |||||||||||||||||||
Net cash used in investing activities | - | 3,280 | (13,661 | ) | (1,677 | ) | - | (12,058 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | - | (480 | ) | - | - | (480 | ) | |||||||||||||||||
Purchases and other retirements of company stock | - | - | - | - | - | - | |||||||||||||||||||
Dividends paid | (11,297 | ) | - | - | - | - | (11,297 | ) | |||||||||||||||||
Other | 357 | 168 | - | - | - | 525 | |||||||||||||||||||
Net cash used in financing activities | (10,940 | ) | 168 | (480 | ) | - | - | (11,252 | ) | ||||||||||||||||
Effect of exchange rate changes on cash | - | - | - | (4 | ) | - | (4 | ) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | 38,260 | (2,116 | ) | 431 | - | 36,575 | ||||||||||||||||||
Cash and cash equivalents – beginning of period | - | 57,307 | 12,463 | 2,831 | - | 72,601 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 95,567 | $ | 10,347 | $ | 3,262 | $ | - | $ | 109,176 | |||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 20,821 | $ | 24,720 | $ | 12,336 | $ | 3,424 | $ | - | $ | 61,301 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (1,320 | ) | (14,847 | ) | (2,838 | ) | - | (19,005 | ) | |||||||||||||||
Acquisitions | - | - | (770 | ) | - | - | (770 | ) | |||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 61 | 3,222 | - | - | 3,283 | |||||||||||||||||||
Change in restricted cash and investments | - | (17 | ) | - | - | - | (17 | ) | |||||||||||||||||
Purchase of marketable securities | - | (18,247 | ) | - | - | - | (18,247 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 11,165 | - | - | - | 11,165 | |||||||||||||||||||
Other | - | 1,440 | 550 | - | - | 1,990 | |||||||||||||||||||
Net cash used in investing activities | - | (6,918 | ) | (11,845 | ) | (2,838 | ) | - | (21,601 | ) | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | (25,800 | ) | (304 | ) | - | - | (26,104 | ) | ||||||||||||||||
Purchases and other retirements of company stock | - | - | - | - | - | - | |||||||||||||||||||
Dividends paid | (22,220 | ) | - | - | - | - | (22,220 | ) | |||||||||||||||||
Other | 1,399 | 359 | - | - | - | 1,758 | |||||||||||||||||||
Net cash used in financing activities | (20,821 | ) | (25,441 | ) | (304 | ) | - | - | (46,566 | ) | |||||||||||||||
Effect of exchange rate changes on cash | - | - | - | (254 | ) | - | (254 | ) | |||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | (7,639 | ) | 187 | 332 | - | (7,120 | ) | |||||||||||||||||
Cash and cash equivalents – beginning of period | - | 64,946 | 12,276 | 2,499 | - | 79,721 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 57,307 | $ | 12,463 | $ | 2,831 | $ | - | $ | 72,601 | |||||||||||||
Parent | Issuer | Guarantors | Non-Guarantors | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 9,187 | $ | 3,939 | $ | 18,441 | $ | 6,134 | $ | - | $ | 37,701 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | - | (1,952 | ) | (15,721 | ) | (5,211 | ) | - | (22,884 | ) | |||||||||||||||
Acquisitions | - | - | (520 | ) | - | - | (520 | ) | |||||||||||||||||
Proceeds from the disposal of property, plant and equipment | - | 12 | 1,861 | - | - | 1,873 | |||||||||||||||||||
Change in restricted cash and investments | - | 975 | - | - | - | 975 | |||||||||||||||||||
Purchase of marketable securities | - | (3,647 | ) | - | - | - | (3,647 | ) | |||||||||||||||||
Proceeds from the sale of marketable securities | - | 7,230 | - | - | - | 7,230 | |||||||||||||||||||
Other | - | 305 | 511 | - | - | 816 | |||||||||||||||||||
Net cash provided by (used in) investing activities | - | 2,923 | (13,869 | ) | (5,211 | ) | - | (16,157 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Payments on long-term debt | - | (11,917 | ) | (287 | ) | - | - | (12,204 | ) | ||||||||||||||||
Purchases and other retirements of company stock | (1,350 | ) | - | - | - | - | (1,350 | ) | |||||||||||||||||
Dividends paid | (8,062 | ) | - | - | - | - | (8,062 | ) | |||||||||||||||||
Other | 225 | 238 | 275 | - | - | 738 | |||||||||||||||||||
Net cash used in financing activities | (9,187 | ) | (11,679 | ) | (12 | ) | - | - | (20,878 | ) | |||||||||||||||
Effect of exchange rate changes on cash | - | - | - | 536 | - | 536 | |||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | - | (4,817 | ) | 4,560 | 1,459 | - | 1,202 | ||||||||||||||||||
Cash and cash equivalents – beginning of period | - | 69,763 | 7,716 | 1,040 | - | 78,519 | |||||||||||||||||||
Cash and cash equivalents – end of period | $ | - | $ | 64,946 | $ | 12,276 | $ | 2,499 | $ | - | $ | 79,721 |
Note_21_Valuation_and_Qualifyi1
Note 21 - Valuation and Qualifying Accounts (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | ' | ||||||||||||||||
Balance at | Additions | Adjustments | Balance at | ||||||||||||||
Beginning | (Reductions) | and/or | End of | ||||||||||||||
of Period | Charged to | Deductions | Period | ||||||||||||||
Income | |||||||||||||||||
Accounts Receivable: | |||||||||||||||||
Sales discounts, sales returns and allowance for doubtful accounts: | |||||||||||||||||
30-Jun-14 | $ | 1,230 | $ | 212 | $ | - | $ | 1,442 | |||||||||
30-Jun-13 | $ | 1,250 | $ | (20 | ) | $ | - | $ | 1,230 | ||||||||
30-Jun-12 | $ | 1,171 | $ | 9 | $ | 70 | $ | 1,250 |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Long-term Debt, Fair Value | $133,300,000 | $133,900,000 | ' |
Long-term Debt | 130,912,000 | 131,289,000 | ' |
Shipping, Handling and Transportation Costs | 67,100,000 | 62,300,000 | 62,000,000 |
Advertising Expense | 29,400,000 | 29,800,000 | 29,800,000 |
Prepaid Advertising | 600,000 | 1,600,000 | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '40 years | ' | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Long-term Debt | $129,300,000 | $129,200,000 | ' |
Note_3_Inventories_Details_Inv
Note 3 - Inventories (Details) - Inventories Summary (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventories Summary [Abstract] | ' | ' |
Finished goods | $116,377 | $110,220 |
Work in process | 8,355 | 6,961 |
Raw materials | 24,347 | 22,787 |
Valuation allowance | -2,804 | -2,712 |
$146,275 | $137,256 |
Note_4_Property_Plant_and_Equi2
Note 4 - Property, Plant and Equipment (Details) - Property, Plant and Equipment Summary (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment Summary [Abstract] | ' | ' |
Land and improvements | $88,296 | $89,091 |
Building and improvements | 389,022 | 388,628 |
Machinery and equipment | 124,391 | 116,666 |
601,709 | 594,385 | |
Less: accumulated depreciation and amortization | -313,553 | -302,713 |
$288,156 | $291,672 |
Note_5_Goodwill_and_Other_Inta1
Note 5 - Goodwill and Other Intangible Assets (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Goodwill | $25.40 | $25.40 |
Other Indefinite-lived Intangible Assets | $19.70 | $19.70 |
Note_6_Borrowings_Details
Note 6 - Borrowings (Details) (USD $) | 1 Months Ended | 12 Months Ended | 36 Months Ended | 61 Months Ended | 120 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 61 Months Ended | 12 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 27, 2005 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Mar. 25, 2016 | Sep. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 27, 2005 | Jun. 30, 2014 | Mar. 25, 2016 | Mar. 25, 2016 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Forward Contracts [Member] | Based on Average Availability [Member] | Based on Average Availability [Member] | Based on Average Availability [Member] | Senior Notes [Member] | Line of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Federal Funds Effective Swap Rate [Member] | |||||||
London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||
Minimum [Member] | Maximum [Member] | ||||||||||||||||
Note 6 - Borrowings (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes (in Dollars) | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 5.38% | 5.38% | ' | 5.38% | ' | ' | ' | ' | ' | 5.38% | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount (in Dollars) | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Senior Long-term Debt (in Dollars) | 198.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Related Commitment Fees and Debt Issuance Costs (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' |
Derivative, Loss on Derivative (in Dollars) | ' | ' | ' | ' | ' | ' | 0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Senior Debt (in Dollars) | ' | ' | ' | ' | 70.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | ' | 50 | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'At the Company's option, revolving loans under the Facility bear interest at an annual rate of either:(a) London Interbank Offered rate ("LIBOR") plus 2.0% to 2.5%, based on the average availability, or(b) The higher of (i) a prime rate, (ii) the federal funds effective rate plus 0.50%, or (iii) LIBOR plus 1.0% plus, in each case, an additional 1.0% to 1.5%, based on average availability. | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | 1.50% | ' | ' | ' | ' | 2.00% | 2.50% | 0.50% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.50% | ' | ' | ' |
Line of Credit Facility, Covenant Terms | ' | ' | ' | ' | ' | 'If the average monthly availability is less than the greater of (i) 12.5% of the aggregate commitment and (ii) $6.3 million, the Company's fixed charge coverage ratio may not be less than 1 to 1 for any period of four consecutive fiscal quarters. Certain payments are restricted if the availability of the collateral supporting the facility falls below $10 million or 20% of the facility size. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount (in Dollars) | ' | 0.6 | ' | ' | 0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars) | ' | $49.40 | ' | ' | $49.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding Debt Obligation, Weighted-Average Interest Rate | ' | 5.50% | 5.50% | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_6_Borrowings_Details_Tota
Note 6 - Borrowings (Details) - Total Debt Obligations (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Total Debt Obligations [Abstract] | ' | ' |
5.375% Senior Notes due 2015 | $129,255 | $129,152 |
Capital leases and other | 1,657 | 2,137 |
Total debt | 130,912 | 131,289 |
Less curent maturities | 501 | 480 |
Total long-term debt | $130,411 | $130,809 |
Note_6_Borrowings_Details_Tota1
Note 6 - Borrowings (Details) - Total Debt Obligations (Parentheticals) | Jun. 30, 2014 | Jun. 30, 2013 |
Total Debt Obligations [Abstract] | ' | ' |
Senior Notes due 2015, interest | 5.38% | 5.38% |
Note_6_Borrowings_Details_Aggr
Note 6 - Borrowings (Details) - Aggregate Scheduled Maturities of Debt (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Aggregate Scheduled Maturities of Debt [Abstract] | ' | ' |
2015 | $501 | ' |
2016 | 129,778 | ' |
2017 | 474 | ' |
2018 | 159 | ' |
2019 | 0 | ' |
Subsequent to 2019 | 0 | ' |
Total scheduled debt payments | $130,912 | $131,289 |
Note_7_Leases_Details
Note 7 - Leases (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
Deferred Rent Credit | $12.50 | $11.90 |
Lease Incentive Receivable | $3.10 | $1.90 |
Note_7_Leases_Details_Future_M
Note 7 - Leases (Details) - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Future Minimum Lease Payments Under Non-Cancelable Operating Leases [Abstract] | ' | ' |
2015 | $30,744 | ' |
2015 | ' | 2,452 |
2016 | 27,222 | ' |
2016 | ' | 1,685 |
2017 | 23,987 | ' |
2017 | ' | 1,552 |
2018 | 22,245 | ' |
2018 | ' | 1,451 |
2019 | 18,571 | ' |
2019 | ' | 900 |
Subsequent to 2019 | 72,376 | ' |
Subsequent to 2019 | ' | 1,888 |
Total | 195,145 | ' |
Total | ' | $9,928 |
Note_7_Leases_Details_Summary_
Note 7 - Leases (Details) - Summary of Rent Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Summary of Rent Expense [Abstract] | ' | ' | ' |
Basic rentals under operating leases | $28,653 | $30,014 | $30,895 |
Contingent rentals under operating leases | 231 | 75 | 109 |
28,884 | 30,089 | 31,004 | |
Less: sublease rent | -2,494 | -2,034 | -1,656 |
Total rent expense | $26,390 | $28,055 | $29,348 |
Note_8_Shareholders_Equity_Det
Note 8 - Shareholders' Equity (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Nov. 21, 2002 |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Preferred Stock, Shares Authorized | 1,055,000 | 1,055,000 | ' |
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $0.01 | $0.01 | ' |
Preferred Stock, Shares Issued | 0 | 0 | ' |
Preferred Stock, Shares Outstanding | 0 | 0 | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | 2,000,000 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 1,100,000 | ' | ' |
Common Class A [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.01 | $0.01 | ' |
Common Stock, Shares, Issued | 48,577,620 | 48,557,973 | ' |
Common Class B [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Common Stock, Shares Authorized | 600,000 | 600,000 | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.01 | $0.01 | ' |
Common Stock, Shares, Issued | 0 | 0 | ' |
Common Stock, Shares, Outstanding | 0 | 0 | ' |
Series A Preferred Stock [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Preferred Stock, Shares Authorized | 30,000 | ' | ' |
Series B Preferred Stock [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Preferred Stock, Shares Authorized | 30,000 | ' | ' |
Series C Preferred Stock [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | 155,010 | ' |
Series D Preferred Stock [Member] | ' | ' | ' |
Note 8 - Shareholders' Equity (Details) [Line Items] | ' | ' | ' |
Preferred Stock, Capital Shares Reserved for Future Issuance | ' | 839,990 | ' |
Note_8_Shareholders_Equity_Det1
Note 8 - Shareholders' Equity (Details) - Stock Retired and Repurchased (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2012 | |
Note 8 - Shareholders' Equity (Details) - Stock Retired and Repurchased [Line Items] | ' | ' |
Common shares repurchased | 0 | 79,293 |
Cost to repurchase common shares | ' | $1,350,000 |
Average price per share | $0 | $17.02 |
Accrual Basis [Member] | ' | ' |
Note 8 - Shareholders' Equity (Details) - Stock Retired and Repurchased [Line Items] | ' | ' |
Cost to repurchase common shares | $0 | $1,349,557 |
Note_9_Earnings_per_Share_Deta
Note 9 - Earnings per Share (Details) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 724,292 | 877,100 | 1,641,500 |
Note_9_Earnings_per_Share_Deta1
Note 9 - Earnings per Share (Details) - Calculation of Weighted Average Shares | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Calculation of Weighted Average Shares [Abstract] | ' | ' | ' |
Weighted average common shares outstanding for basic calculation | 28,918 | 28,864 | 28,824 |
Effect of dilutive stock options and other share-based awards | 358 | 375 | 285 |
Weighted average common shares outstanding adjusted for dilution calculation | 29,276 | 29,239 | 29,109 |
Note_10_ShareBased_Compensatio2
Note 10 - Share-Based Compensation (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 21 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 31, 2011 | Jul. 31, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Stock Appreciation Rights (SARs) [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock Units (RSUs) [Member] | Employees [Member] | Independent Directors [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Officer [Member] | 1992 Stock Option Plan [Member] | Maximum [Member] | ||||
Chief Executive Officer [Member] | 1992 Stock Option Plan [Member] | |||||||||||||||
Note 10 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | $1,325,000 | $1,401,000 | $1,702,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 500,000 | 500,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,360,878 | 6,487,867 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 172,499 | ' | ' | 0 | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | 149,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Contractual Term | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '3 years 292 days | ' | ' | ' | ' | ' | ' | '5 years | '3 years | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.61 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '5 years | '5 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in Shares) | 49,667 | ' | ' | ' | ' | ' | 126,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $11.42 | $9.96 | $5.98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 200,000 | 800,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 2,200,000 | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years 73 days | ' | ' | ' | '1 year 292 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | 105,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | ' | ' | ' | ' | $900,000 | $1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_10_ShareBased_Compensatio3
Note 10 - Share-Based Compensation (Details) - Share-based Payment Award, Stock Options, Valuation Assumptions | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Share-based Payment Award, Stock Options, Valuation Assumptions [Abstract] | ' | ' | ' |
Volatility | 56.30% | 56.50% | 45.10% |
Risk-free rate of return | 1.52% | 0.80% | 1.92% |
Dividend yield | 1.55% | 1.64% | 2.00% |
Expected average life (years) | '5 years 73 days | '5 years 292 days | '9 years 219 days |
Note_10_ShareBased_Compensatio4
Note 10 - Share-Based Compensation (Details) - Share-based Compensation, Stock Options, Activity (USD $) | 12 Months Ended |
Jun. 30, 2014 | |
Share-based Compensation, Stock Options, Activity [Abstract] | ' |
Outstanding - June 30, 2013 | 1,636,494 |
Outstanding - June 30, 2013 | $26.54 |
Granted | 172,499 |
Granted | $25.83 |
Exercised | -20,553 |
Exercised | $17.37 |
Canceled (forfeited/expired) | -465,064 |
Canceled (forfeited/expired) | $34.90 |
Outstanding - June 30, 2014 | 1,323,376 |
Outstanding - June 30, 2014 | $23.65 |
Outstanding - June 30, 2014 | '5 years |
Outstanding - June 30, 2014 | $6,319,869 |
Exercisable - June 30, 2014 | 992,699 |
Exercisable - June 30, 2014 | $24.58 |
Exercisable - June 30, 2014 | '3 years 292 days |
Exercisable - June 30, 2014 | $4,816,501 |
Note_10_ShareBased_Compensatio5
Note 10 - Share-Based Compensation (Details) - Nonvested Share Activity (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Note 10 - Share-Based Compensation (Details) - Nonvested Share Activity [Line Items] | ' | ' | ' |
Granted | 172,499 | ' | ' |
Granted | $11.42 | $9.96 | $5.98 |
Canceled (forfeited/expired) | -465,064 | ' | ' |
Non-vested [Member] | ' | ' | ' |
Note 10 - Share-Based Compensation (Details) - Nonvested Share Activity [Line Items] | ' | ' | ' |
Nonvested June 30, 2013 | 303,207 | ' | ' |
Nonvested June 30, 2013 | $6.90 | ' | ' |
Granted | 172,499 | ' | ' |
Granted | $11.42 | ' | ' |
Vested | -118,815 | ' | ' |
Vested | $6.61 | ' | ' |
Canceled (forfeited/expired) | -26,214 | ' | ' |
Canceled (forfeited/expired) | $10.21 | ' | ' |
Nonvested at June 30, 2014 | 330,677 | ' | ' |
Nonvested at June 30, 2014 | $9.10 | ' | ' |
Note_10_ShareBased_Compensatio6
Note 10 - Share-Based Compensation (Details) - Nonvested Restricted Share Activity (Restricted Stock [Member], USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Restricted Stock [Member] | ' | ' |
Note 10 - Share-Based Compensation (Details) - Nonvested Restricted Share Activity [Line Items] | ' | ' |
Shares | 52,000 | 86,812 |
Weighted Average Grant Date Fair Value (in Dollars per share) | $14.66 | $15.09 |
Granted | 0 | ' |
Vested | -33,906 | ' |
Vested (in Dollars per share) | $15.67 | ' |
Canceled (forfeited/expired) | -906 | ' |
Canceled (forfeited/expired) (in Dollars per share) | $18.40 | ' |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2014 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ($2,000,000) | ($21,600,000) | $19,471,000 | $17,696,000 | ($8,455,000) |
Deferred Tax Assets, Valuation Allowance | 1,408,000 | ' | 1,408,000 | 2,948,000 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 4,700,000 | ' | 4,700,000 | ' | ' |
Other Tax Expense (Benefit) | ' | ' | 3,100,000 | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 2,200,000 | ' | 2,200,000 | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $1,400,000 | ' | $1,400,000 | ' | ' |
Note_11_Income_Taxes_Details_C
Note 11 - Income Taxes (Details) - Components of Income Tax Expense (Benefit) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Current: | ' | ' | ' | ' | ' |
Federal | ' | ' | $20,693 | $13,305 | $13,086 |
State | ' | ' | 1,900 | 1,822 | -1,433 |
Foreign | ' | ' | 60 | 125 | 57 |
Total current | ' | ' | 22,653 | 15,252 | 11,710 |
Deferred: | ' | ' | ' | ' | ' |
Federal | ' | ' | -941 | 1,798 | -20,896 |
State | ' | ' | -1,921 | 669 | 591 |
Foreign | ' | ' | -320 | -23 | 140 |
Total deferred | ' | ' | -3,182 | 2,444 | -20,165 |
Income Tax Expense (Benefit) | ($2,000) | ($21,600) | $19,471 | $17,696 | ($8,455) |
Note_11_Income_Taxes_Details_E
Note 11 - Income Taxes (Details) - Effective Income Tax Rate Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Effective Income Tax Rate Reconciliation [Abstract] | ' | ' | ' | ' | ' |
Expected Income Tax Expense | ' | ' | $21,841 | $17,561 | $14,434 |
Expected Income Tax Expense | ' | ' | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax | ' | ' | 2,209 | 1,467 | 1,038 |
State income taxes, net of federal income tax | ' | ' | 3.50% | 2.90% | 2.50% |
Valuation allowance | ' | ' | -1,540 | 631 | -21,237 |
Valuation allowance | ' | ' | -2.50% | 1.30% | -51.50% |
Section 199 Qualified Production Activities deduction | ' | ' | -1,342 | -1,157 | -1,001 |
Section 199 Qualified Production Activities deduction | ' | ' | -2.20% | -2.30% | -2.40% |
Unrecognized tax expense (benefit) | ' | ' | -904 | 30 | -1,483 |
Unrecognized tax expense (benefit) | ' | ' | -1.40% | 0.10% | -3.60% |
Other, net | ' | ' | -793 | -836 | -206 |
Other, net | ' | ' | -1.30% | -1.70% | -0.50% |
Actual income tax expense (benefit) | ($2,000) | ($21,600) | $19,471 | $17,696 | ($8,455) |
Actual income tax expense (benefit) | ' | ' | 31.20% | 35.30% | -20.50% |
Note_11_Income_Taxes_Details_D
Note 11 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Accounts receivable | $557 | $463 |
Inventories | 223 | ' |
Employee compensation accruals | 5,168 | 5,057 |
Stock based compensation | 2,468 | 2,342 |
Deferred rent credits | 5,695 | 5,071 |
Restructuring charges | 465 | 622 |
Net operating loss carryforwards | 4,004 | 3,592 |
Goodwill | 3,870 | 5,020 |
Other, net | 2,693 | 3,053 |
Total deferred tax assets | 25,143 | 25,220 |
Less: Valuation allowance | -1,408 | -2,948 |
Net deferred tax assets | 23,735 | 22,272 |
Deferred tax liabilities: | ' | ' |
Inventories | ' | 775 |
Property, plant and equipment | 622 | 1,121 |
Intangible assets other than goodwill | 14,306 | 14,264 |
Commissions | 3,274 | 3,590 |
Other, net | ' | 20 |
Total deferred tax liability | 18,202 | 19,770 |
Total net deferred tax asset | $5,533 | $2,502 |
Note_11_Income_Taxes_Details_D1
Note 11 - Income Taxes (Details) - Deferred Tax Assets and Liabilities, Balance Sheets Classification (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Liabilities, Balance Sheets Classification [Abstract] | ' | ' |
Current assets | $4,028 | $2,876 |
Non-current assets | 4,440 | 251 |
Current liabilities | 0 | 0 |
Non-current liabilities | 2,935 | 625 |
Total net deferred tax asset | $5,533 | $2,502 |
Note_11_Income_Taxes_Details_D2
Note 11 - Income Taxes (Details) - Deferred Tax Assets Expiration With Respect To Net Operating Losses (USD $) | 216 Months Ended | 60 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2032 | Jun. 30, 2033 |
Domestic Tax Authority [Member] | Foreign Tax Authority [Member] | |
Note 11 - Income Taxes (Details) - Deferred Tax Assets Expiration With Respect To Net Operating Losses [Line Items] | ' | ' |
Deferred Income Tax Assets | $1,862 | $2,142 |
Net Operating Loss Carryforwards | $39,649 | $6,850 |
Note_11_Income_Taxes_Details_U
Note 11 - Income Taxes (Details) - Unrecognized Tax Benefits (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Unrecognized Tax Benefits [Abstract] | ' | ' |
Beginning balance | $6,843 | $7,369 |
Additions for tax positions taken | 1,642 | 1,227 |
Reductions for tax positions taken in prior years | -2,853 | -1,351 |
Settlements | -933 | -402 |
Ending balance | $4,699 | $6,843 |
Note_12_Employee_Retirement_Pr1
Note 12 - Employee Retirement Programs (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $2.80 | $2.90 | $2.60 |
Other Postretirement Benefit Expense | $3.50 | $3.40 | $2.70 |
Note_14_Accumulated_Other_Comp2
Note 14 - Accumulated Other Comprehensive Income (Details) - Activity in Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Balance June30, 2013 | $684 | ' | ' |
Changes before reclassifications | -72 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | 30 | ' | ' |
Current period other comprehensive income | 28 | -450 | -1,192 |
Balance June30, 2014 | 642 | 684 | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Balance June30, 2013 | 747 | ' | ' |
Changes before reclassifications | -77 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | 0 | ' | ' |
Current period other comprehensive income | -77 | ' | ' |
Balance June30, 2014 | 670 | ' | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Balance June30, 2013 | -69 | ' | ' |
Changes before reclassifications | 0 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | 30 | ' | ' |
Current period other comprehensive income | 30 | ' | ' |
Balance June30, 2014 | -39 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Balance June30, 2013 | 6 | ' | ' |
Changes before reclassifications | 5 | ' | ' |
Amounts reclassified from accumulated other comprehensive income | 0 | ' | ' |
Current period other comprehensive income | 5 | ' | ' |
Balance June30, 2014 | $11 | ' | ' |
Note_15_Segment_Information_De
Note 15 - Segment Information (Details) | 12 Months Ended |
Jun. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_15_Segment_Information_De1
Note 15 - Segment Information (Details) - Wholesale Sales by Product Line | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' |
Wholesale sales, percentage | 100.00% | 100.00% | 100.00% |
Case Goods [Member] | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' |
Wholesale sales, percentage | 36.00% | 37.00% | 38.00% |
Upholstered Products [Member] | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' |
Wholesale sales, percentage | 48.00% | 48.00% | 44.00% |
Home Accessories And Other [Member] | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' |
Wholesale sales, percentage | 16.00% | 15.00% | 18.00% |
Note_15_Segment_Information_De2
Note 15 - Segment Information (Details) - Income by Segment (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales | $198,835 | $173,061 | $193,104 | $181,659 | $182,251 | $168,144 | $191,251 | $187,437 | $185,316 | $175,861 | $183,275 | $184,921 | $746,659 | $729,083 | $729,373 | |||
Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,636 | 60,437 | 49,697 | |||
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,930 | 18,008 | 18,581 | |||
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,305 | 19,775 | 23,404 | |||
Operating Segments [Member] | Wholesale Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 453,607 | 434,439 | 456,915 | |||
Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,816 | 50,843 | 64,436 | |||
Operating Segments [Member] | Retail Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 580,739 | 578,284 | 559,417 | |||
Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,515 | 8,016 | -11,522 | |||
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -287,687 | -283,640 | -286,959 | |||
Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,305 | [1] | 1,578 | [1] | -3,217 | [1] |
Wholesale Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,887 | 8,166 | 7,525 | |||
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,013 | 7,024 | 12,168 | |||
Retail Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,043 | 9,842 | 11,056 | |||
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,292 | 11,981 | 10,716 | |||
Acquisitions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $770 | $520 | |||
[1] | Represents the change in wholesale profit contained in Ethan Allen design center inventory at the end of the period. |
Note_15_Segment_Information_De3
Note 15 - Segment Information (Details) - Assets by Segment (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |||
In Thousands, unless otherwise specified | ||||||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Assets | $654,434 | $617,285 | $644,788 | |||
Wholesale Segment [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Assets | 339,271 | 291,942 | 309,573 | |||
Retail Segment [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Assets | 344,025 | 355,233 | 366,594 | |||
Inventory Profit Elimination [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Assets | ($28,862) | [1] | ($29,890) | [1] | ($31,379) | [1] |
[1] | The wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold. |
Note_15_Segment_Information_De4
Note 15 - Segment Information (Details) - Independent Retail Design Centers, Net Sales (International Design Centers [Member]) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of stores | 99 | 94 | 92 |
Independent Design Centers [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of stores | 91 | 86 | 87 |
Company Operated Design Centers [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of stores | 8 | 8 | 5 |
Sales Revenue, Net [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Percentage of consolidated net sales | 10.60% | 8.90% | 10.20% |
Note_16_Selected_Quarterly_Fin2
Note 16 - Selected Quarterly Financial Data (Unaudited) (Details) - Selected Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Selected Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | $198,835 | $173,061 | $193,104 | $181,659 | $182,251 | $168,144 | $191,251 | $187,437 | $185,316 | $175,861 | $183,275 | $184,921 | $746,659 | $729,083 | $729,373 |
Gross profit | 108,624 | 93,130 | 105,999 | 98,743 | 98,344 | 91,785 | 103,967 | 104,253 | 99,909 | 94,275 | 98,219 | 97,885 | 406,496 | 398,349 | 390,288 |
Net income | $17,084 | $5,258 | $11,555 | $9,034 | $8,194 | $4,374 | $9,846 | $10,064 | $7,299 | $27,548 | $8,077 | $6,770 | $42,931 | $32,478 | $49,694 |
Earnings per basic share | $0.59 | $0.18 | $0.40 | $0.31 | $0.28 | $0.15 | $0.34 | $0.35 | $0.25 | $0.95 | $0.28 | $0.24 | $1.48 | $1.13 | $1.72 |
Earnings per diluted share | $0.58 | $0.18 | $0.39 | $0.31 | $0.28 | $0.15 | $0.34 | $0.35 | $0.25 | $0.94 | $0.28 | $0.23 | $1.47 | $1.11 | $1.71 |
Dividends declared per common share | $0.10 | $0.10 | $0.10 | $0.10 | $0.09 | $0.09 | $0.50 | $0.09 | $0.09 | $0.07 | $0.07 | $0.07 | $0.40 | $0.77 | $0.30 |
Note_17_Financial_Instruments_1
Note 17 - Financial Instruments (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Disclosure Text Block Supplement [Abstract] | ' | ' |
Restricted Cash and Investments, Noncurrent | $8.50 | $15.40 |
Municipal Debt Securities, at Carrying Value | 18.2 | 14 |
Financial Instruments, Owned, Corporate Debt, at Fair Value | ' | 1.5 |
Proceeds from Sale of Available-for-sale Securities | $14.90 | $11.20 |
Note_17_Financial_Instruments_2
Note 17 - Financial Instruments (Details) - Assets and Liabilities Measureed at Fair Value (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Note 17 - Financial Instruments (Details) - Assets and Liabilities Measureed at Fair Value [Line Items] | ' | ' |
Cash equivalents | $117,683 | $88,034 |
Available-for-sale securities | 18,153 | 15,529 |
Total | 135,836 | 103,563 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 17 - Financial Instruments (Details) - Assets and Liabilities Measureed at Fair Value [Line Items] | ' | ' |
Cash equivalents | 117,683 | 88,034 |
Total | 117,683 | 88,034 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 17 - Financial Instruments (Details) - Assets and Liabilities Measureed at Fair Value [Line Items] | ' | ' |
Available-for-sale securities | 18,153 | 15,529 |
Total | $18,153 | $15,529 |
Note_17_Financial_Instruments_3
Note 17 - Financial Instruments (Details) - Additional Information on Available-for-sale Securities (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Additional Information on Available-for-sale Securities [Abstract] | ' | ' |
Amortized Cost Basis | $17,909 | $15,314 |
Fair Value | $18,153 | $15,529 |
Note_17_Financial_Instruments_4
Note 17 - Financial Instruments (Details) - Contractual Maturities of Available-for-sale Investments (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Contractual Maturities of Available-for-sale Investments [Abstract] | ' | ' |
Due in one year or less | $16,049 | $13,213 |
Due in one year or less | 15,863 | 13,067 |
Due after one year through five years | 2,296 | 2,463 |
Due after one year through five years | $2,290 | $2,462 |
Note_18_Restricted_Cash_and_In1
Note 18 - Restricted Cash and Investments (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Note 18 - Restricted Cash and Investments (Details) [Line Items] | ' | ' |
Restricted Cash and Investments, Noncurrent | $8.50 | $15.40 |
Other Assets [Member] | ' | ' |
Note 18 - Restricted Cash and Investments (Details) [Line Items] | ' | ' |
Restricted Cash and Investments, Noncurrent | $8.50 | $15.40 |
Note_20_Financial_Information_2
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors (Details) (USD $) | Sep. 27, 2005 |
In Millions, unless otherwise specified | |
Disclosure Text Block Supplement [Abstract] | ' |
Senior Notes | $200 |
Note_20_Financial_Information_3
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors (Details) - Condensed Consolidating Balance Sheet (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $109,176 | $72,601 | $79,721 | $78,519 |
Marketable securities | 18,153 | 15,529 | ' | ' |
Inventories | 146,275 | 137,256 | ' | ' |
Prepaid expenses and other current assets | 19,599 | 22,907 | ' | ' |
Total current assets | 305,629 | 260,570 | ' | ' |
Property, plant and equipment, net | 288,156 | 291,672 | ' | ' |
Goodwill and other intangible assets | 45,128 | 45,128 | ' | ' |
Restricted cash and investments | 8,507 | 15,433 | ' | ' |
Total assets | 654,434 | 617,285 | 644,788 | ' |
Current liabilities: | ' | ' | ' | ' |
Current maturities of long-term debt | 501 | 480 | ' | ' |
Customer deposits | 59,684 | 59,098 | ' | ' |
Accounts payable | 24,320 | 22,995 | ' | ' |
Accrued expenses and other current liabilities | 23,833 | 23,161 | ' | ' |
Total current liabilities | 136,047 | 132,939 | ' | ' |
Long-term debt | 130,411 | 130,809 | ' | ' |
Other long-term liabilities | 20,509 | 19,180 | ' | ' |
Total liabilities | 286,967 | 282,928 | ' | ' |
Shareholdersb equity | 367,215 | 334,150 | ' | ' |
Total liabilities and shareholdersb equity | 654,434 | 617,285 | ' | ' |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Inventories | -28,862 | -29,890 | ' | ' |
Intercompany receivables | -1,154,990 | -1,130,089 | ' | ' |
Total current assets | -1,183,852 | -1,159,979 | ' | ' |
Investment in affiliated companies | -623,953 | -574,804 | ' | ' |
Total assets | -1,807,805 | -1,734,783 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Intercompany payables | -1,154,990 | -1,130,089 | ' | ' |
Total current liabilities | -1,154,990 | -1,130,089 | ' | ' |
Total liabilities | -1,154,990 | -1,130,089 | ' | ' |
Shareholdersb equity | -652,815 | -604,694 | ' | ' |
Total liabilities and shareholdersb equity | -1,807,805 | -1,734,783 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Investment in affiliated companies | 731,003 | 686,451 | ' | ' |
Total assets | 731,003 | 686,451 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accrued expenses and other current liabilities | 3,013 | 2,720 | ' | ' |
Intercompany payables | 360,523 | 349,374 | ' | ' |
Total current liabilities | 363,536 | 352,094 | ' | ' |
Total liabilities | 363,536 | 352,094 | ' | ' |
Shareholdersb equity | 367,467 | 334,357 | ' | ' |
Total liabilities and shareholdersb equity | 731,003 | 686,451 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 95,567 | 57,307 | 64,946 | 69,763 |
Marketable securities | 18,153 | 15,529 | ' | ' |
Accounts receivable, net | 12,118 | 12,061 | ' | ' |
Prepaid expenses and other current assets | 6,954 | 9,882 | ' | ' |
Intercompany receivables | 836,086 | 831,238 | ' | ' |
Total current assets | 968,878 | 926,017 | ' | ' |
Property, plant and equipment, net | 8,848 | 9,432 | ' | ' |
Goodwill and other intangible assets | 37,905 | 37,905 | ' | ' |
Restricted cash and investments | 8,507 | 15,433 | ' | ' |
Other assets | 4,620 | 2,188 | ' | ' |
Investment in affiliated companies | -107,050 | -111,647 | ' | ' |
Total assets | 921,708 | 879,328 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 6,423 | 7,390 | ' | ' |
Accrued expenses and other current liabilities | 30,656 | 29,710 | ' | ' |
Intercompany payables | -8,468 | -7,460 | ' | ' |
Total current liabilities | 28,611 | 29,640 | ' | ' |
Long-term debt | 129,255 | 129,152 | ' | ' |
Other long-term liabilities | 4,241 | 4,492 | ' | ' |
Total liabilities | 162,107 | 163,284 | ' | ' |
Shareholdersb equity | 759,601 | 716,044 | ' | ' |
Total liabilities and shareholdersb equity | 921,708 | 879,328 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 10,347 | 12,463 | 12,276 | 7,716 |
Accounts receivable, net | 308 | 212 | ' | ' |
Inventories | 168,996 | 161,683 | ' | ' |
Prepaid expenses and other current assets | 10,800 | 11,275 | ' | ' |
Intercompany receivables | 322,382 | 302,577 | ' | ' |
Total current assets | 512,833 | 488,210 | ' | ' |
Property, plant and equipment, net | 262,272 | 265,698 | ' | ' |
Goodwill and other intangible assets | 7,223 | 7,223 | ' | ' |
Other assets | 1,647 | 1,488 | ' | ' |
Total assets | 783,975 | 762,619 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current maturities of long-term debt | 501 | 480 | ' | ' |
Customer deposits | 55,810 | 56,030 | ' | ' |
Accounts payable | 17,699 | 15,097 | ' | ' |
Accrued expenses and other current liabilities | 16,292 | 16,683 | ' | ' |
Intercompany payables | 773,850 | 766,039 | ' | ' |
Total current liabilities | 864,152 | 854,329 | ' | ' |
Long-term debt | 1,156 | 1,657 | ' | ' |
Other long-term liabilities | 15,763 | 14,355 | ' | ' |
Total liabilities | 881,071 | 870,341 | ' | ' |
Shareholdersb equity | -97,096 | -107,722 | ' | ' |
Total liabilities and shareholdersb equity | 783,975 | 762,619 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 3,262 | 2,831 | 2,499 | 1,040 |
Accounts receivable, net | ' | 4 | ' | ' |
Inventories | 6,141 | 5,463 | ' | ' |
Prepaid expenses and other current assets | 1,845 | 1,750 | ' | ' |
Intercompany receivables | -3,478 | -3,726 | ' | ' |
Total current assets | 7,770 | 6,322 | ' | ' |
Property, plant and equipment, net | 17,036 | 16,542 | ' | ' |
Other assets | 747 | 806 | ' | ' |
Total assets | 25,553 | 23,670 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Customer deposits | 3,874 | 3,068 | ' | ' |
Accounts payable | 198 | 508 | ' | ' |
Accrued expenses and other current liabilities | 1,581 | 1,253 | ' | ' |
Intercompany payables | 29,085 | 22,136 | ' | ' |
Total current liabilities | 34,738 | 26,965 | ' | ' |
Other long-term liabilities | 505 | 333 | ' | ' |
Total liabilities | 35,243 | 27,298 | ' | ' |
Shareholdersb equity | -9,690 | -3,628 | ' | ' |
Total liabilities and shareholdersb equity | 25,553 | 23,670 | ' | ' |
Consolidated Entities [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 109,176 | 72,601 | 79,721 | 78,519 |
Marketable securities | 18,153 | 15,529 | ' | ' |
Accounts receivable, net | 12,426 | 12,277 | ' | ' |
Inventories | 146,275 | 137,256 | ' | ' |
Prepaid expenses and other current assets | 19,599 | 22,907 | ' | ' |
Total current assets | 305,629 | 260,570 | ' | ' |
Property, plant and equipment, net | 288,156 | 291,672 | ' | ' |
Goodwill and other intangible assets | 45,128 | 45,128 | ' | ' |
Restricted cash and investments | 8,507 | 15,433 | ' | ' |
Other assets | 7,014 | 4,482 | ' | ' |
Total assets | 654,434 | 617,285 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current maturities of long-term debt | 501 | 480 | ' | ' |
Customer deposits | 59,684 | 59,098 | ' | ' |
Accounts payable | 24,320 | 22,995 | ' | ' |
Accrued expenses and other current liabilities | 51,542 | 50,366 | ' | ' |
Total current liabilities | 136,047 | 132,939 | ' | ' |
Long-term debt | 130,411 | 130,809 | ' | ' |
Other long-term liabilities | 20,509 | 19,180 | ' | ' |
Total liabilities | 286,967 | 282,928 | ' | ' |
Shareholdersb equity | 367,467 | 334,357 | ' | ' |
Total liabilities and shareholdersb equity | $654,434 | $617,285 | ' | ' |
Note_20_Financial_Information_4
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors (Details) - Condensed Consolidating Statement of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $198,835 | $173,061 | $193,104 | $181,659 | $182,251 | $168,144 | $191,251 | $187,437 | $185,316 | $175,861 | $183,275 | $184,921 | $746,659 | $729,083 | $729,373 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,163 | 330,734 | 339,085 |
Gross profit | 108,624 | 93,130 | 105,999 | 98,743 | 98,344 | 91,785 | 103,967 | 104,253 | 99,909 | 94,275 | 98,219 | 97,885 | 406,496 | 398,349 | 390,288 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 336,860 | 337,912 | 340,591 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,636 | 60,437 | 49,697 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276 | -1,485 | 562 |
Interest and other related financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,510 | 8,778 | 9,020 |
Income tax expense (benefit) | -2,000 | ' | ' | ' | ' | ' | ' | ' | ' | -21,600 | ' | ' | 19,471 | 17,696 | -8,455 |
Net income/(loss) | 17,084 | 5,258 | 11,555 | 9,034 | 8,194 | 4,374 | 9,846 | 10,064 | 7,299 | 27,548 | 8,077 | 6,770 | 42,931 | 32,478 | 49,694 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -540,699 | -540,033 | -548,234 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -541,727 | -541,522 | -544,655 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,028 | 1,489 | -3,579 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,028 | 1,489 | -3,579 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -47,708 | -29,877 | -34,142 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -46,680 | -28,388 | -37,721 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -46,680 | -28,388 | -37,721 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180 | 180 | 180 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -180 | -180 | -180 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,111 | 32,658 | 49,874 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,931 | 32,478 | 49,694 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,931 | 32,478 | 49,694 |
Subsidiary Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 446,666 | 434,741 | 456,895 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,572 | 327,723 | 341,365 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106,094 | 107,018 | 115,530 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,367 | 46,620 | 45,690 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,727 | 60,398 | 69,840 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,990 | -4,229 | -15,403 |
Interest and other related financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,429 | 8,709 | 8,997 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,288 | 47,460 | 45,440 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,205 | 16,291 | -8,013 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,083 | 31,169 | 53,453 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 798,442 | 796,194 | 787,295 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 513,106 | 520,570 | 523,064 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 285,336 | 275,624 | 264,231 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 269,519 | 272,794 | 280,480 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,817 | 2,830 | -16,249 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -95 | 38 | 216 |
Interest and other related financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81 | 69 | 23 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,641 | 2,799 | -16,056 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,080 | 1,320 | -523 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,561 | 1,479 | -15,533 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,250 | 38,181 | 33,417 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,212 | 23,963 | 19,311 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,038 | 14,218 | 14,106 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,794 | 18,318 | 14,241 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,756 | -4,100 | -135 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -22 | -75 | 17 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,778 | -4,175 | -118 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 186 | 85 | 81 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,964 | -4,260 | -199 |
Consolidated Entities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 746,659 | 729,083 | 729,373 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,163 | 330,734 | 339,085 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 406,496 | 398,349 | 390,288 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 336,860 | 337,912 | 340,591 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,636 | 60,437 | 49,697 |
Interest and other miscellaneous income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276 | -1,485 | 562 |
Interest and other related financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,510 | 8,778 | 9,020 |
Income before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,402 | 50,174 | 41,239 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,471 | 17,696 | -8,455 |
Net income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $42,931 | $32,478 | $49,694 |
Note_20_Financial_Information_5
Note 20 - Financial Information About the Parent, the Issuer and the Guarantors (Details) - Condensed Consolidating Statement of Cash Flows (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $59,889,000 | $61,301,000 | $37,701,000 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -19,305,000 | -19,005,000 | -22,884,000 |
Acquisitions | ' | -770,000 | -520,000 |
Proceeds from the disposal of property, plant and equipment | 3,381,000 | 3,283,000 | 1,873,000 |
Change in restricted cash and investments | 6,926,000 | -17,000 | 975,000 |
Purchase of marketable securities | -18,268,000 | -18,247,000 | -3,647,000 |
Proceeds from the sale of marketable securities | 14,883,000 | 11,165,000 | 7,230,000 |
Other | 325,000 | 1,990,000 | 816,000 |
Net cash used in investing activities | -12,058,000 | -21,601,000 | -16,157,000 |
Cash flows from financing activities: | ' | ' | ' |
Payments on long-term debt | -480,000 | -26,104,000 | -12,204,000 |
Purchases and other retirements of company stock | ' | ' | -1,350,000 |
Dividends paid | -11,297,000 | -22,220,000 | -8,062,000 |
Other | 525,000 | 1,758,000 | 738,000 |
Net cash used in financing activities | -11,252,000 | -46,566,000 | -20,878,000 |
Effect of exchange rate changes on cash | -4,000 | -254,000 | 536,000 |
Net increase (decrease) in cash and cash equivalents | 36,575,000 | -7,120,000 | 1,202,000 |
Cash & cash equivalents - beginning of year | 72,601,000 | 79,721,000 | 78,519,000 |
Cash & cash equivalents - end of year | 109,176,000 | 72,601,000 | 79,721,000 |
Parent Company [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 10,940,000 | 20,821,000 | 9,187,000 |
Cash flows from financing activities: | ' | ' | ' |
Purchases and other retirements of company stock | ' | ' | -1,350,000 |
Dividends paid | -11,297,000 | -22,220,000 | -8,062,000 |
Other | 357,000 | 1,399,000 | 225,000 |
Net cash used in financing activities | -10,940,000 | -20,821,000 | -9,187,000 |
Subsidiary Issuer [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 34,812,000 | 24,720,000 | 3,939,000 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -610,000 | -1,320,000 | -1,952,000 |
Proceeds from the disposal of property, plant and equipment | 24,000 | 61,000 | 12,000 |
Change in restricted cash and investments | 6,926,000 | -17,000 | 975,000 |
Purchase of marketable securities | -18,268,000 | -18,247,000 | -3,647,000 |
Proceeds from the sale of marketable securities | 14,883,000 | 11,165,000 | 7,230,000 |
Other | 325,000 | 1,440,000 | 305,000 |
Net cash used in investing activities | 3,280,000 | -6,918,000 | 2,923,000 |
Cash flows from financing activities: | ' | ' | ' |
Payments on long-term debt | ' | -25,800,000 | -11,917,000 |
Other | 168,000 | 359,000 | 238,000 |
Net cash used in financing activities | 168,000 | -25,441,000 | -11,679,000 |
Net increase (decrease) in cash and cash equivalents | 38,260,000 | -7,639,000 | -4,817,000 |
Cash & cash equivalents - beginning of year | 57,307,000 | 64,946,000 | 69,763,000 |
Cash & cash equivalents - end of year | 95,567,000 | 57,307,000 | 64,946,000 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 12,025,000 | 12,336,000 | 18,441,000 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -17,018,000 | -14,847,000 | -15,721,000 |
Acquisitions | ' | -770,000 | -520,000 |
Proceeds from the disposal of property, plant and equipment | 3,357,000 | 3,222,000 | 1,861,000 |
Other | ' | 550,000 | 511,000 |
Net cash used in investing activities | -13,661,000 | -11,845,000 | -13,869,000 |
Cash flows from financing activities: | ' | ' | ' |
Payments on long-term debt | -480,000 | -304,000 | -287,000 |
Other | ' | ' | 275,000 |
Net cash used in financing activities | -480,000 | -304,000 | -12,000 |
Net increase (decrease) in cash and cash equivalents | -2,116,000 | 187,000 | 4,560,000 |
Cash & cash equivalents - beginning of year | 12,463,000 | 12,276,000 | 7,716,000 |
Cash & cash equivalents - end of year | 10,347,000 | 12,463,000 | 12,276,000 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 2,112,000 | 3,424,000 | 6,134,000 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -1,677,000 | -2,838,000 | -5,211,000 |
Net cash used in investing activities | -1,677,000 | -2,838,000 | -5,211,000 |
Cash flows from financing activities: | ' | ' | ' |
Effect of exchange rate changes on cash | -4,000 | -254,000 | 536,000 |
Net increase (decrease) in cash and cash equivalents | 431,000 | 332,000 | 1,459,000 |
Cash & cash equivalents - beginning of year | 2,831,000 | 2,499,000 | 1,040,000 |
Cash & cash equivalents - end of year | 3,262,000 | 2,831,000 | 2,499,000 |
Consolidated Entities [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 59,889,000 | 61,301,000 | 37,701,000 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -19,305,000 | -19,005,000 | -22,884,000 |
Acquisitions | ' | -770,000 | -520,000 |
Proceeds from the disposal of property, plant and equipment | 3,381,000 | 3,283,000 | 1,873,000 |
Change in restricted cash and investments | 6,926,000 | -17,000 | 975,000 |
Purchase of marketable securities | -18,268,000 | -18,247,000 | -3,647,000 |
Proceeds from the sale of marketable securities | 14,883,000 | 11,165,000 | 7,230,000 |
Other | 325,000 | 1,990,000 | 816,000 |
Net cash used in investing activities | -12,058,000 | -21,601,000 | -16,157,000 |
Cash flows from financing activities: | ' | ' | ' |
Payments on long-term debt | -480,000 | -26,104,000 | -12,204,000 |
Purchases and other retirements of company stock | ' | ' | -1,350,000 |
Dividends paid | -11,297,000 | -22,220,000 | -8,062,000 |
Other | 525,000 | 1,758,000 | 738,000 |
Net cash used in financing activities | -11,252,000 | -46,566,000 | -20,878,000 |
Effect of exchange rate changes on cash | -4,000 | -254,000 | 536,000 |
Net increase (decrease) in cash and cash equivalents | 36,575,000 | -7,120,000 | 1,202,000 |
Cash & cash equivalents - beginning of year | 72,601,000 | 79,721,000 | 78,519,000 |
Cash & cash equivalents - end of year | $109,176,000 | $72,601,000 | $79,721,000 |
Note_21_Valuation_and_Qualifyi2
Note 21 - Valuation and Qualifying Accounts (Details) - Valuation Allowance (Allowance for Promotions [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Allowance for Promotions [Member] | ' | ' | ' |
Sales discounts, sales returns and allowance for doubtful accounts: | ' | ' | ' |
Beginning Balance | $1,230 | $1,250 | $1,171 |
Additions (reductions) Charge to Income | 212 | -20 | 9 |
Adjustments and /or Deductions | ' | ' | 70 |
Ending Balance | $1,442 | $1,230 | $1,250 |