Sparton (SPA) 10-K 8 Sep 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Aug. 31, 2015	Dec. 31, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	SPARTON CORP
Entity Central Index Key	92,679
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		9,886,618
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 262,529

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Current Assets:
Cash and cash equivalents	$ 14,914	$ 8,028
Accounts receivable, net of allowance for doubtful accounts of $173 and $126, respectively	70,974	48,697
Inventories and cost of contracts in progress, net	79,503	53,372
Deferred income taxes, net	4,714	3,813
Prepaid expenses and other current assets	5,488	2,654
Total current assets	175,593	116,564
Property, plant and equipment, net	32,608	28,523
Goodwill	74,175	28,189
Other intangible assets, net	45,825	20,041
Deferred income taxes, net — non-current	2,199	1,192
Pension asset	0	44
Other non-current assets	7,151	4,427
Total assets	337,551	198,980
Current Liabilities:
Current portion of long-term debt	0	900
Accounts payable	29,948	16,543
Accrued salaries and wages	9,089	7,854
Accrued health benefits	1,510	1,538
Performance based payments on customer contracts	1,756	3,196
Other accrued expenses	16,328	11,090
Total current liabilities	58,631	41,121
Pension liability — non-current portion	424	0
Long-term debt — non-current portion	154,500	40,100
Environmental remediation — non-current portion	7,117	7,644
Total liabilities	$ 220,672	$ 88,865
Commitments and contingencies
Shareholders’ Equity:
Preferred stock, no par value; 200,000 shares authorized; none issued	$ 0	$ 0
Common stock, $1.25 par value; 15,000,000 shares authorized, 9,886,618 and 10,129,031 shares issued and outstanding, respectively	12,358	12,661
Capital in excess of par value	16,045	19,478
Retained earnings	89,933	78,944
Accumulated other comprehensive loss	(1,457)	(968)
Total shareholders’ equity	116,879	110,115
Total liabilities and shareholders’ equity	$ 337,551	$ 198,980

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 173	$ 126
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 1.25	$ 1.25
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	9,886,618	10,129,031
Common stock, shares outstanding	9,886,618	10,129,031

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
Net sales	$ 382,125	$ 336,501	$ 265,003
Cost of goods sold	307,454	271,686	219,192
Gross profit	74,671	64,815	45,811
Operating expense:
Selling and administrative expenses	46,876	35,698	26,451
Internal research and development expenses	1,502	1,169	1,300
Amortization of intangible assets	6,591	3,287	1,575
Legal settlement	2,500	0	0
Environmental remediation	0	4,238	0
Restructuring charges	0	188	55
Other operating (income) expense, net	(50)	(16)	13
Total operating expense, net	57,419	44,564	29,394
Operating income	17,252	20,251	16,417
Other income (expense):
Interest expense	(2,456)	(838)	(518)
Interest income	3	9	102
Other, net	156	180	171
Total other expense, net	(2,297)	(649)	(245)
Income before income taxes	14,955	19,602	16,172
Income taxes	3,966	6,615	2,702
Net income	$ 10,989	$ 12,987	$ 13,470
Income per share of common stock:
Income per share of common stock: Basic (in dollars per share)	$ 1.10	$ 1.28	$ 1.32
Income per share of common stock: Diluted (in dollars per share)	$ 1.10	$ 1.28	$ 1.32
Weighted average shares of common stock outstanding:
Weighted average shares outstanding - Basic (in shares)	9,874,441	10,109,915	10,193,530
Weighted average shares outstanding - Diluted (in shares)	9,885,961	10,141,395	10,228,687

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 10,989	$ 12,987	$ 13,470
Other comprehensive (loss) income, net of tax:
Pension experience (loss) gain, net of (benefit) taxes of ($244), $82 and $195 for the years ended June 30, 2015, 2014 and 2013, respectively	(458)	152	346
Pension amortization of unrecognized net actuarial loss, net of tax benefit of $27, $47 and $66 for the years ended June 30, 2015, 2014 and 2013, respectively	54	81	117
Pension pro rata recognition of lump-sum settlements, net of taxes of $31 for the year ended June 30, 2014	0	54	0
Unrecognized loss on securities available for sale, net of tax benefit of $54 for the year ended June 30, 2015	(85)	0	0
Other comprehensive (loss) income, net of tax	(489)	287	463
Comprehensive income	$ 10,500	$ 13,274	$ 13,933

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]
Pension experience gain (loss), tax provision (benefit)	$ (244)	$ 82	$ 195
Amortization of unrecognized net actuarial loss, tax benefit (provision)	27	47	$ 66
Pro rata recognition of lump-sum settlements, tax provision		$ 31
Unrecognized loss on marketable equity securities, tax benefit	$ 54

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities:
Net income	$ 10,989	$ 12,987	$ 13,470
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,645	4,700	3,186
Amortization of intangible assets	6,591	3,423	1,575
Deferred income taxes, net	(873)	(976)	(159)
Stock-based compensation expense	1,885	1,662	1,128
Legal settlement	2,500	0	0
Environmental remediation	0	4,238	0
Gross profit effect of capitalized profit in inventory from acquisitions	299	337	566
Excess tax benefit from stock-based compensation	(1,044)	(522)	(211)
Other, net	739	247	112
Changes in operating assets and liabilities, net of business acquisitions:
Accounts receivable	(7,040)	4,886	(12,318)
Inventories and cost of contracts in progress, net	501	1,484	(1,491)
Prepaid expenses and other assets	(1,889)	419	452
Performance based payments on customer contracts	(1,440)	(17,706)	(4,165)
Accounts payable and accrued expenses	(11,326)	(2,728)	789
Net cash provided by operating activities	4,537	12,451	2,934
Cash Flows from Investing Activities:
Acquisition of businesses, net of cash acquired and post-closing adjustments	(97,319)	(35,560)	(47,538)
Purchase of securities available for sale	(986)	0	0
Purchases of property, plant and equipment	(5,802)	(3,501)	(3,872)
Proceeds from sale of property, plant and equipment	0	69	275
Net cash used in investing activities	(104,107)	(38,992)	(51,135)
Cash Flows from Financing Activities:
Borrowings of long-term debt	215,835	70,000	39,000
Repayments of long-term debt	(102,335)	(40,623)	(29,140)
Payment of debt financing costs	(1,423)	0	(555)
Repurchase of stock	(6,830)	(1,559)	(2,360)
Proceeds from the exercise of stock options	165	144	180
Excess tax benefit from stock-based compensation	1,044	522	211
Net cash provided by financing activities	106,456	28,484	7,336
Net increase (decrease) in cash and cash equivalents	6,886	1,943	(40,865)
Cash and cash equivalents at beginning of year	8,028	6,085	46,950
Cash and cash equivalents at end of year	14,914	8,028	6,085
Supplemental disclosure of cash flow information:
Cash paid for interest	1,747	631	415
Cash paid for income taxes	7,190	7,065	2,525
Supplemental disclosure of non-cash investing activities:
Accounts payable recognized in relation to purchase consideration adjustment	$ 603	$ 252	$ 302

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital In Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Jun. 30, 2012	$ 82,980	$ 12,632	$ 19,579	$ 52,487	$ (1,718)
Beginning balance (in shares) at Jun. 30, 2012		10,105,759
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	0	$ 199	(199)
Issuance of stock (in shares)		159,433
Forfeiture of restricted stock	0	$ (63)	63
Forfeiture of restricted stock (in shares)		(50,530)
Repurchase of stock	(2,360)	$ (186)	(2,174)
Repurchase of stock (in shares)		(148,722)
Exercise of stock options	180	$ 37	143
Exercise of stock options (in shares)		29,776
Stock-based compensation	1,128		1,128
Excess tax benefit from stock-based compensation	211		211
Comprehensive income, net of tax	13,933			13,470	463
Ending balance at Jun. 30, 2013	96,072	$ 12,619	18,751	65,957	(1,255)
Ending balance (in shares) at Jun. 30, 2013		10,095,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	0	$ 121	(121)
Issuance of stock (in shares)		96,664
Forfeiture of restricted stock	0	$ (4)	4
Forfeiture of restricted stock (in shares)		(3,344)
Repurchase of stock	(1,559)	$ (96)	(1,463)
Repurchase of stock (in shares)		(76,880)
Exercise of stock options	144	$ 21	123
Exercise of stock options (in shares)		16,875
Stock-based compensation	1,662		1,662
Excess tax benefit from stock-based compensation	522		522
Comprehensive income, net of tax	13,274			12,987	287
Ending balance at Jun. 30, 2014	$ 110,115	$ 12,661	19,478	78,944	(968)
Ending balance (in shares) at Jun. 30, 2014	10,129,031	10,129,031
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	$ 0	$ 34	(34)
Issuance of stock (in shares)		26,793
Forfeiture of restricted stock	0	$ (49)	49
Forfeiture of restricted stock (in shares)		(39,031)
Repurchase of stock	(6,830)	$ (312)	(6,518)
Repurchase of stock (in shares)		(249,420)
Exercise of stock options	$ 165	$ 24	141
Exercise of stock options (in shares)	19,247	19,245
Stock-based compensation	$ 1,885		1,885
Excess tax benefit from stock-based compensation	1,044		1,044
Comprehensive income, net of tax	10,500			10,989	(489)
Ending balance at Jun. 30, 2015	$ 116,879	$ 12,358	$ 16,045	$ 89,933	$ (1,457)
Ending balance (in shares) at Jun. 30, 2015	9,886,618	9,886,618

Business

Business	12 Months Ended
	Jun. 30, 2015
Business [Abstract]
Business	Business Sparton Corporation and subsidiaries (the “Company” or “Sparton”) has been in continuous existence since 1900. It was last reorganized in 1919 as an Ohio corporation. The Company is a provider of design, development and manufacturing services for complex electromechanical devices, as well as sophisticated engineered products complementary to the same electromechanical value stream. The Company serves the Medical & Biotechnology, Military & Aerospace and Industrial & Commercial markets through two reportable business segments; Manufacturing & Design Services (“MDS”) and Engineered Components & Products (“ECP”). Effective for fiscal 2015, the Company reports its operating results under these two reportable segments. Prior to fiscal 2015, the Company reported under three reportable business segments; Medical Device (“Medical”), Complex Systems (“CS”) and Defense & Security Systems (“DSS”). The prior periods herein reflect this change to segment reporting. See Note 15, Business Segments, of the "Notes to Consolidated Financial Statements" in this form 10-K for a further discussion of business segments. All of the Company's facilities are certified to one or more of the ISO/AS standards, including ISO 9001, AS9100 and ISO 13485, with most having additional certifications based on the needs of the customers they serve. The majority of the Company's customers are in highly regulated industries where strict adherence to regulations such as the International Tariff and Arms Regulations ("ITAR") is necessary. The Company's products and services include offerings for Original Equipment Manufacturers (“OEM”) and Emerging Technology (“ET”) customers that utilize microprocessor-based systems which include transducers, printed circuit boards and assemblies, sensors and electromechanical components, as well as development and design engineering services relating to these product sales. Sparton also develops and manufactures sonobuoys, anti-submarine warfare (“ASW”) devices used by the United States Navy as well as foreign governments that meet Department of State licensing requirements and manufactures ruggedized flat panel display systems for military panel PC workstations, air traffic control and industrial applications as well as high performance industrial grade computer systems and peripherals. Many of the physical and technical attributes in the production of these proprietary products are similar to those required in the production of the Company's other electrical and electromechanical products and assemblies.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation and principles of consolidation — The consolidated financial statements include the accounts of Sparton Corporation and subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications of prior year amounts have been made to conform to the current year presentation. Subsequent events have been evaluated through the date these financial statements were issued. Use of estimates — Management of the Company has made a number of estimates, judgments and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities at the dates of the consolidated balance sheets and revenue and expense during the reporting periods to prepare these consolidated financial statements in conformity with GAAP. Actual results could differ from those estimates. Cash and cash equivalents — Cash and cash equivalents include cash on hand, demand deposits and money market funds with original maturities of three months or less. Cash equivalents are stated at cost which approximates fair value. Accounts receivable, credit practices and allowances for doubtful accounts — Accounts receivable are customer obligations generally due under normal trade terms for the industry. Credit terms are granted and periodically revised based on evaluations of the customers’ financial condition. The Company performs ongoing credit evaluations of its customers and although the Company does not generally require collateral, letters of credit or cash advances may be required from customers in order to support accounts receivable in certain circumstances. The Company maintains an allowance for doubtful accounts on receivables for estimated losses resulting from the inability of its customers to make required payments. The allowance is estimated primarily based on information known about specific customers with respect to their ability to make payments, and future expectations of conditions that might impact the collectability of accounts. When management determines that it is probable that an account will not be collected, all or a portion of the amount is charged against the allowance for doubtful accounts. Inventories and costs of contracts in progress — Inventories are valued at the lower of cost (first-in, first-out basis) or market and include costs related to long-term contracts as disclosed below. Inventories, other than contract costs, are principally raw materials and supplies. Certain United States Government contracts allow Sparton to submit performance based billings, which are then applied against inventories purchased and manufacturing costs incurred by the Company throughout its performance under these contracts. Inventories were reduced by performance based payments from the U.S. government for costs incurred related to long-term contracts, thereby establishing inventory to which the U.S. government then has title, of approximately $7.5 million and $8.0 million , respectively, at June 30, 2015 and 2014. At June 30, 2015 and 2014, current liabilities include performance based payments of $1.8 million and $3.2 million , respectively, on government contracts. As these payments are in excess of cost, there is no inventory to which the government would claim title and, therefore, no offset to inventory has been made. Customer orders are based upon forecasted quantities of product manufactured for shipment over defined periods. Raw material inventories are purchased to fulfill these customer requirements. Within these arrangements, customer demands for products frequently change, sometimes creating excess and obsolete inventories. The Company regularly reviews raw material inventories by customer for both excess and obsolete quantities. Wherever possible, the Company attempts to recover its full cost of excess and obsolete inventories from customers or, in some cases, through other markets. When it is determined that the Company’s carrying cost of such excess and obsolete inventories cannot be recovered in full, a charge is taken against income for the difference between the carrying cost and the estimated realizable amount. These cost adjustments for excess and obsolete inventory create a new cost basis for the inventory. The Company recorded inventory write-downs totaling approximately $0.9 million , $0.5 million and $0.6 million for the years ended June 30, 2015, 2014 and 2013, respectively. These charges are included in cost of goods sold for the periods presented. If inventory that has previously been impaired is subsequently sold, the amount of reduced cost basis is reflected as cost of goods sold. The Company experienced minimal subsequent sales of excess and obsolete inventory during the three years ended June 30, 2015 that resulted in higher gross margins due to previous write-downs. Such sales and the impact of those sales on gross margin were not material to the years presented. Property, plant and equipment, net — Property, plant and equipment are stated at cost less accumulated depreciation. Major improvements and upgrades are capitalized while ordinary repair and maintenance costs are expensed as incurred. Depreciation is provided over estimated useful lives on both straight-line and accelerated methods. Estimated useful lives generally range from twelve to thirty-nine years for buildings and improvements, twelve years for machinery and equipment and five years for test equipment. Other assets — Other non-current assets consist of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Deferred engineering and design costs - non-current $ 2,089 $ 1,700 Environmental remediation - indemnification asset 1,832 1,509 Favorable leasehold, net 374 492 Deferred financing fees, net 1,169 375 Investment in securities available for sale 847 — Other 840 351 Total other non-current assets $ 7,151 $ 4,427 Engineering and design costs on long-term contracts not otherwise immediately reimbursed are deferred and recognized ratably over related revenue streams. For the years ended June 30, 2015 and 2014, respectively, deferred engineering and design costs totaled approximately $3.2 million and $2.4 million of which approximately $1.1 million and $0.7 million were reflected in prepaid expenses and other current assets. See Note 10, Commitments and Contingencies, of the "Notes to Consolidated Financial Statements" in this Form 10-K for a discussion of the Company's environmental remediation - indemnification asset. The Company acquired a favorable leasehold in relation to its acquisition of Aydin Displays. The favorable leasehold is being amortized on a straight-line basis over the five year life of the lease and related amortization is reflected primarily within cost of goods sold on the consolidated statement of income. Costs incurred in connection with the Company’s current Credit Facility of approximately $1.4 million were deferred and are amortized to interest expense over the five year term of the facility on a straight-line basis. Approximately, $0.6 million , $0.1 million and $0.1 million of amortization of these loan costs as well as the previous revolving-credit facility's loan costs were recognized and reported as interest expense for the years ended June 30, 2015, 2014 and 2013, respectively. Goodwill and intangible assets — The Company tests for possible goodwill impairment annually or more often should events or changes in circumstances indicate the carrying value of the goodwill may not be recoverable. The test is conducted at the reporting unit level. Sparton has two reportable business segments (MDS and ECP) for fiscal 2015. In fiscal years 2014 and 2013 the Company had three reportable business segments (Medical, Complex Systems and DSS). In fiscal year 2015, MDS and ECP each consist of a single reporting unit. In the previous years, Medical, Complex Systems and DSS each consisted of a single reporting unit. In fiscal 2015 and 2014, goodwill resided within each of the Company's reporting units and testing was done on each unit. For fiscal year 2013, all of the Company’s goodwill resided within the Medical reporting unit and goodwill impairment testing was conducted on this single reporting unit. The Company may elect to perform a qualitative assessment for its annual goodwill impairment test. If the qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or if Sparton elects to not perform a qualitative assessment, then the Company would be required to perform a quantitative impairment test for goodwill. A quantitative impairment analysis is a two-step process. First, the Company determines the fair value of the reporting unit and compares it to its carrying value. The fair value of reporting units is determined based on a weighting of both projected discounted future results and comparative market multiples. The projected discounted future results (discounted cash flow approach) is based on assumptions that are consistent with the Company’s estimates of future growth and the strategic plan used to manage the underlying business. Factors requiring significant judgment include assumptions related to future revenue growth rates, operating margins, terminal growth rates and discount factors, amongst other considerations. Second, if the carrying value of a reporting unit exceeds its estimated fair value, an impairment loss is recognized for any excess of the carrying value of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The residual fair value after this allocation is the implied fair value of the reporting unit goodwill. The Company’s fair value estimates related to its goodwill impairment analyses are based on Level 3 inputs within the fair value hierarchy as described below in this note under “Fair value measurements.” Determining the fair value of any reporting unit and intangible asset is judgmental in nature and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions believed to be reasonable, but which are unpredictable and inherently uncertain. Actual future results may differ from those estimates. Circumstances that may lead to future impairment of goodwill include, but are not limited to, unforeseen decreases in future performance or industry demand, as well as further loss of a significant customer or program in excess of future incremental new business wins. The next annual goodwill impairment review is expected to be performed during the fourth quarter of fiscal 2016. Based on the Company's fiscal 2015 qualitative assessment of goodwill, the Company concluded that it was more likely than not that the fair value of each of its MDS and ECP reporting units was greater than its respective carrying amount, and therefore no further testing was required. The Company's fiscal 2014 quantitative annual tests of goodwill related to the Medical, Complex Systems and DSS reporting units did not indicate that the related goodwill was impaired. The Company determined at that time that the fair value of the three reporting units substantially exceeded their carrying values, having exceeded the carrying values by approximately 70% , 33% and over 1,100% , respectively. In fiscal 2013, the Company elected to perform a qualitative assessment for its annual goodwill impairment test. Based on the Company's fiscal 2013 qualitative assessment of goodwill, the Company concluded that it was more likely than not that the fair value of its Medical reporting unit was greater than its carrying amount, and therefore no further testing was required. The Company’s intangible assets other than goodwill represent the values assigned to acquired customer relationships, acquired non-compete agreements, acquired trademarks/trade names and acquired unpatented technology. At June 30, 2015, customer relationships, non-compete agreements and trademarks/trade names totaling approximately $34.0 million , $2.9 million and less than $0.1 million , respectively, are included in the MDS segment, while customer relationships, non-compete agreements, trademarks/trade names and unpatented technology totaling approximately $6.1 million , $0.3 million , $1.5 million and $1.0 million , respectively, are included in the ECP segment. The impairment test for these intangible assets is conducted when impairment indicators are present. The Company continually evaluates whether events or circumstances have occurred that would indicate the remaining estimated useful lives of its intangible assets warrant revision or that the remaining balance of such assets may not be recoverable. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the asset in measuring whether the asset is recoverable. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge would be recognized for the amount that the carrying amount of the asset exceeds the fair value of the asset. The Company’s fair value estimates related to its intangible assets impairment analyses are based on Level 3 inputs within the fair value hierarchy as described below in this note under “Fair value measurements.” Acquired customer relationships are being amortized using an accelerated methodology over periods of seven to fifteen years . Acquired non-compete agreements are being amortized on a straight-line basis over periods of two to five years as the ratable decline in value over time is most consistent with the contractual nature of these assets. Acquired trademarks/trade names are being amortized on a straight-line basis over periods of one to ten years and acquired unpatented technology is being amortized using an accelerated methodology over seven years. Impairment of long-lived assets — The Company reviews other long-lived assets that are not held for sale for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment is determined by comparing the carrying value of the assets to their estimated future undiscounted cash flows. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell and are reviewed at least quarterly. Stock-based compensation — The Company measures the cost of employee and director services received in exchange for an award of equity-based securities using the fair value of the award on the date of the grant. The Company recognizes that cost on a straight-line basis over the period that the award recipient is required to provide service to the Company in exchange for the award and, for certain awards, subject to the probability that related performance targets will be met. See Note 11, Stock-Based Compensation, of the "Notes to Consolidated FInancial Statements" in this Form 10-K for a further discussion of stock-based compensation. Earnings per share — Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under our stock-based compensation plans and are determined using the treasury stock method. Unvested restricted stock awards, which contain non-forfeitable rights to dividends whether paid or unpaid, are included in the number of shares outstanding for both basic and diluted earnings per share calculations. Unvested contingently issuable participating restricted shares are excluded from basic earnings per share. In the event of a net loss, unvested restricted stock awards are excluded from the calculation of both basic and diluted loss per share. See Note 12, Earnings Per Share Data, of the "Notes to Consolidated Financial Statements" in this Form 10-K for a further discussion. 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 amounts of 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 future 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 rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced through the establishment of a valuation allowance at the time, based upon available evidence, it becomes more likely than not that the deferred tax assets will not be realized. The Company recognizes 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. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Management also assesses whether uncertain tax positions, as filed, could result in the recognition of a liability for possible interest and penalties. The Company's policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense. ERAPSCO Agreement — Sparton is partner to a 50 / 50 joint venture (“JV”) with UnderSea Sensor Systems, Inc. (“USSI”), the only other major producer of U.S. derivative sonobuoys. USSI’s parent company is Ultra Electronics Holdings PLC, based in the United Kingdom. The JV operates under the name ERAPSCO and allows Sparton and USSI to combine their own unique and complementary backgrounds to jointly develop and produce U.S. derivative sonobuoy designs for the U.S. Navy as well as foreign governments that meet Department of State licensing requirements. In concept, and in practice, ERAPSCO serves as a pass-through entity maintaining no funds or assets. While the JV provides the opportunity to maximize efficiencies in the design and development of the related sonobuoys, both venture companies function independently as subcontractors; therefore, there is no separate entity to be accounted for or consolidated. The Board of Directors of ERAPSCO has the responsibility for the overall management and operation of the JV. The six member board consists of equal representation (full time employees) from both JV partners for three year terms. Manpower for ERAPSCO, specifically a president, vice president, general manager, contract administrator and financial manager, are similarly assigned by the JV partners for rotating three year terms and the costs of these assigned individuals are borne by the party assigning the personnel. In response to a customer request for proposal (“RFP”) that ERAPSCO will bid on, the Board of Directors of ERAPSCO approves both the composition of a response to the RFP and the composite bid to be submitted to the customer. The Board of Directors strives to divide the aggregate contract awards at a 50 / 50 share ratio. Each JV partner bears the costs it incurs associated with the preparation and submission of proposals. Each JV partner submits to ERAPSCO a proposal for the estimated price of performing that portion of the RFP applicable to it. Upon award of a contract to the JV, separate subcontracts are generated between ERAPSCO and each of the JV partners defining the responsibilities and compensation for each JV partner. These subcontracts contain terms and conditions consistent with the prime contract. Each JV partner is responsible to ERAPSCO for the successful execution of its respective scope of work under its subcontract and each JV partner is individually accountable for the profit or losses sustained in the execution of the subcontract against its respective bid. In some instances, either Sparton or USSI handles the complete production and delivery of sonobuoys to ERAPSCO's customer. In other instances, either Sparton or USSI starts the production and ship completed subassemblies to the other party for additional processing before being delivered to the customers. Under ERAPSCO, individual contract risk exposures are reduced, while the likelihood of achieving U.S. Navy and other ASW objectives is enhanced. ERAPSCO has been in existence for approximately twenty-six years and historically, the agreed upon products included under the JV were generally developmental or sonobuoys with low volume demand. Seven years ago, the JV expanded to include all future sonobuoy development and substantially all U.S. derivative sonobuoy products for customers outside of the United States. The JV was further expanded three years later to include all sonobuoy products for the U.S. Navy beginning with U.S. Navy's 2010 fiscal year contracts. Revenue recognition — The Company’s net sales are comprised primarily of product sales, with supplementary revenues earned from engineering and design services. Standard contract terms are FOB shipping point. Revenue from product sales is generally recognized upon shipment of the goods; service revenue is recognized as the service is performed or under the percentage of completion method, depending on the nature of the arrangement. Long-term contracts related to ECP sonobuoy sales to the U.S. Navy and foreign government customers that require lot acceptance testing recognize revenue under the units-of-production percentage of completion method. The Company additionally has certain other long-term contracts that are accounted for under the units shipped percentage-of-completion method. Certain upfront engineering costs in relation to certain of these long-term contracts are capitalized and recognized over the life of the contract. At June 30, 2015 and 2014, current liabilities include payments in excess of costs of $1.8 million and $3.2 million , respectively, on government contracts. As noted above, sales related to these billings are recognized based upon units completed and are not recognized at the time of billings. A provision for the entire amount of a loss on a contract is charged to operations as soon as the loss is identified and the amount is reasonably determinable. Shipping and handling costs are included in cost of goods sold. Advertising Costs — The Company expenses advertising costs as they are incurred. Advertising expense was approximately $0.2 million , $0.2 million and $0.5 million for the years ended June 30, 2015, 2014 and 2013, respectively. Research and development expenditures — Internal research and development expenses reflect costs incurred for the internal development of technologies for use in navigation, oil and gas exploration and flat panel display technology. These costs include salaries and related expenses, contract labor and consulting costs, materials and the cost of certain research and development specific equipment. The Company incurred $1.5 million , $1.2 million and $1.3 million of internally funded research and development expenses during the years ended June 30, 2015, 2014 and 2013, respectively. Customer funded research and development costs, which are usually part of a larger production agreement, totaled approximately $9.9 million , $9.7 million and $10.4 million for the years ended June 30, 2015, 2014 and 2013, respectively. Fair value measurements — Fair value estimates and assumptions and methods used to estimate the fair value of the Company’s assets and liabilities are made in accordance with the requirements of the Financial Accounting Standards Board (the “FASB”), Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”). ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 are observable inputs such as quoted prices in active markets; Level 2 are inputs other than the quoted prices in active markets that are observable either directly or indirectly; and Level 3 are unobservable inputs in which there is little or no market data, which require the Company to develop its own assumptions. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. As of June 30, 2014, the Company had no assets or liabilities which it measures and carries on its balance sheet at fair value on a recurring basis. The fair value of the Company's Credit Facility debt at June 30, 2015 approximated its carrying value of $154.5 million , as the rates on these borrowings are variable in nature. In relation to the acquisitions of Hunter, Stealth, KEP Marine, RTEmd, Argotec, IED, eMT, Aubrey, Beckwood and Aydin, the Company estimated the fair value of the assets acquired and liabilities assumed at acquisition date. See Note 3, Acquisitions, of the "Notes to Consolidated Financial Statements" in this form 10-K for a further discussion of these estimated fair values. The fair value of accounts receivable and accounts payable approximated their carrying values at both June 30, 2015 and June 30, 2014. The Company holds marketable equity securities of approximately $0.8 million at June 30, 2015, that it classifies as available-for-sale and are recorded in other non-current assets on the Consolidated Balance Sheets. These securities are carried at estimated fair value with unrealized gains and losses reflected in Accumulated Other Comprehensive Income and are classified as Level 1 in the fair value hierarchy. The assessment for impairment of marketable equity securities as available-for-sale is based on established financial methodologies, including quoted market prices for publicly traded securities. If the Company determines that a loss in the value of the investment is other than temporary, any such losses are recorded in other expense (income), net. The table below presents a reconciliation for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for year ended June 30, 2015 (in thousands). June 30, Purchase or additions June 30, Liabilities: Contingent consideration $ — $ 1,530 $ 1,530 There were no liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) in fiscal years 2014 and 2013. Market risk exposure — The Company manufactures its products in the United States and Vietnam. Sales of the Company’s products are in the U.S. and foreign markets. The Company is subject to foreign currency exchange rate risk relating to intercompany activity and balances and to receipts from customers and payments to suppliers in foreign currencies. Adjustments related to the remeasurement of the Company's Vietnamese financial statements into U.S. dollars are included in current earnings. As a result, the Company's financial results could be affected by factors such as changes in foreign currency exchange rates or economic conditions in the domestic and foreign markets in which the Company operates. However, minimal third party receivables and payables are denominated in foreign currency and the related market risk exposure is considered to be immaterial. The Company's revolving credit line, when drawn upon, is subject to future interest rate fluctuations which could potentially have a negative impact on cash flows of the Company. The Company had $154.5 million outstanding under its credit facility at June 30, 2015. A prospective increase of 100 basis points in the interest rate applicable to the Company's outstanding borrowings under its credit facility would result in an increase of approximately $1.5 million in its annual interest expense. The Company is not party to any currency exchange or interest rate protection agreements as of June 30, 2015. See Note 7, Debt, of the "Notes to Consolidated Financial Statements" in this form 10-K for a further description on Sparton’s debt. New accounting standards — In July 2013, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance under Accounting Standards Update No. 2013-11 ("ASU 2013-11"), which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This accounting standard update requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. ASU 2013-11 was effective for the Company’s first quarter of fiscal 2015. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 ("ASU 2014-09"), which amends guidance for revenue recognition. Under the new standard, revenue will be recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. The standard creates a five-step model that will generally require companies to use more judgment and make more estimates than under current guidance when considering the terms of contracts along with all relevant facts and circumstances. These include the identification of customer contracts and separating performance obligations, the determination of transaction price that potentially includes an estimate of variable consideration, allocating the transaction price to each separate performance obligation, and recognizing revenue in line with the pattern of transfer. The standard also requires extensive additional disclosures to provide greater insight into revenues recognized and deferred, including quantitative and qualitative information about significant judgments and changes in those judgments made to determine the timing and amount of revenues recognized. ASU 2014-09, as amended by ASU 2015-14, is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Companies have the option of using either a full or modified retrospective approach in applying this standard. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 changes the presentation of debt issuance costs for term debt in the balance sheet by requiring the debt issuance costs to be presented as a direct deduction from the related debt liability, rather than recorded as an asset. The standard is required to be adopted by public business entities in annual periods beginning on or after December 15, 2015, and interim periods within those annual periods and will need to be applied retrospectively. Early adoption is permitted. The Company is currently in the process of evaluating the impact o

Acquisitions

Acquisitions	12 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions Fiscal Year 2015 Hunter Technology Corporation — On April 14, 2015, the Company completed the acquisition of Hunter Technology Corporation, (“Hunter”), an $80.5 million (unaudited) annual revenue business, with operations located in Milpitas, CA and Lawrenceville, GA, in a $55.0 million all-cash transaction. The transaction includes a $2.8 million escrowed holdback which is available to fund any potential post-closing working capital adjustment and potential seller indemnification obligations in relation to the acquisition agreement. Additional consideration of up to $13.0 million is contingent upon Hunter attaining certain performance thresholds during the twelve month period following the transaction. The Company has recorded a $1.0 million liability to reimburse shareholders the tax gross-up related to the election filed under Section 338(h)(10) of the Internal Revenue Code of 198, as amended. Hunter, which is part of the Company's MDS segment, was founded in 1968 and was one of the first electronic contract manufacturing providers specializing in military and aerospace applications. Today, Hunter is one of the few suppliers in the Silicon Valley region providing engineering design, new product introduction (NPI) and full-rate production manufacturing solutions working with major defense and aerospace companies, test and measurement suppliers, secure networking solution providers, medical device manufacturers and a wide variety of industrial customers. The initial accounting for this acquisition is not complete pending detailed analyses of the facts and circumstances that existed as of the acquisition date. The Company has recorded a $1.2 million liability in relation to the purchase date estimated fair value of the additional contingent consideration for this acquisition. The Company estimated the fair value of the contingent consideration using an income approach, which is based on significant inputs, primarily forecasted future operating results of the acquired businesses, not observable in the market and thus representing a Level 3 measurement as defined in ASC 820. The Company adjusts the fair value of contingent consideration through operating expenses if there are changes to the inputs used in the income approach and as a result of the passage of time. The Company is in the process of reviewing the preliminary valuations of certain working capital items. The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of Hunter based on Sparton’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 55,194 Common Stock 673 Section 338 gross payable 1,000 Accrued contingent consideration 1,180 Total purchase consideration $ 58,047 Assets acquired and liabilities assumed: Cash $ 678 Accounts receivable 10,396 Inventory 20,438 Other current assets 470 Property, plant and equipment 2,221 Customer relationships 14,700 Non-compete agreements 420 Goodwill 26,494 Other long term assets 396 Accounts payable (15,756 ) Other current liabilities (2,236 ) Other long term liabilities (174 ) Total assets acquired and liabilities assumed $ 58,047 The Hunter acquisition has resulted in approximately $26.5 million of goodwill, which is expected to be deductible for tax purposes and has been assigned entirely to the Company’s MDS segment. The Company believes goodwill primarily relates to strategic fit, resulting synergies and the acquired workforce that this business brings to existing operations. The fair values of acquired identifiable intangible assets have been determined to be Level 3 under the fair value hierarchy and have been estimated based on projected future cash flows and customer attrition rates, discounted using an estimated weighted average cost of capital. The customer relationships are being amortized using an accelerated methodology over ten years. The non-compete agreements are being amortized using a straight-line methodology over two years. Included in the Company’s Consolidated Statements of Income for the year ended June 30, 2015 are net sales of approximately $14.3 million and net loss before income taxes of approximately $0.7 million , since the April 14, 2015 acquisition of Hunter. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.4 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Stealth.com — On March 16, 2015, the Company completed the acquisition of substantially all of the assets of Stealth.com ("Stealth"), a $10.4 CAD ( $8.0 USD) million (unaudited) annual revenue business, located in Woodbridge, ON Canada in a $16.0 CAD ( $12.6 USD) million all-cash transaction. The transaction includes a $1.9 million CAD ( $1.5 USD) million escrowed holdback which is available to fund any potential post-closing working capital adjustment and potential seller indemnification obligations in relation to the acquisition agreement. The acquired business, which is part of the Company's ECP segment, is a supplier of high performance ruggedized industrial grade computer systems and peripherals that include Mini PC/Small Form Factor Computers, Rackmount Server PCs, Rugged Industrial LCD Monitors, Rugged Portable PCs, Industrial Grade Keyboards and Rugged Trackballs and Mice. The initial accounting for this acquisition is not complete pending detailed analyses of the facts and circumstances that existed as of the acquisition date. The Stealth acquisition has preliminarily resulted in approximately $8.6 CAD ( $6.7 USD) million of goodwill, which is expected to be deductible for tax purposes and has been assigned entirely to the Company’s ECP segment. The Company believes goodwill primarily relates to strategic fit. Included in the Company’s Consolidated Statements of Income for the year ended June 30, 2015 are net sales of approximately $2.5 million and net income before income taxes of approximately $0.4 million , since the March 16, 2015 acquisition of Stealth. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.3 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. KEP Marine — On January 21, 2015, the Company completed the acquisition of certain assets of KEP Marine, a $3 million (unaudited) annual revenue business and division of Kessler-Ellis Products, located in Eatontown, NJ, in a $4.3 million all-cash transaction. The acquired business, which is part of the Company's ECP segment, designs and manufactures industrial displays, industrial computers and HMI software for the Marine market. These product lines will be consolidated into the Aydin Displays facility, located in Birdsboro, PA. The KEP Marine acquisition has preliminarily resulted in approximately $1.6 million of goodwill, which is expected to be deductible for tax purposes and has been assigned entirely to the Company’s ECP segment. The Company believes goodwill primarily relates to strategic fit. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.1 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Real-Time Enterprises, Inc. — On January 20, 2015, the Company completed the acquisition of Real-Time Enterprises, Inc. ("RTEmd"), a $4 million (unaudited) annual revenue business, located in Pittsford, NY, in a $ 2.3 million all-cash transaction. Additional consideration of up to $0.8 million is contingent upon RTEmd attaining certain performance thresholds during the twelve month period following the transaction. RTEmd will continue to service its current and future customers out of its Pittsford, NY location. The acquired business, which is part of the Company's MDS segment, is a leading developer of embedded software to operate medical devices and diagnostic equipment through a disciplined approach to product development and quality/regulatory services with specific product experience such as patient monitoring, medical imaging, in-vitro diagnostics, electro-medical systems, surgical applications, ophthalmology, nephrology, infusion pumps and medical imaging. The initial accounting for this acquisition is not complete pending detailed analyses of the facts and circumstances that existed as of the acquisition date. The Company has recorded a $0.4 million liability in relation to the purchase date estimated fair value of the additional contingent consideration for this acquisition. The Company estimated the fair value of the contingent consideration using an income approach, which is based on significant inputs, primarily forecasted future operating results of the acquired businesses, not observable in the market and thus representing a Level 3 measurement as defined in ASC 820. The Company adjusts the fair value of contingent consideration through operating expenses if there are changes to the inputs used in the income approach and as a result of the passage of time. The RTEmd acquisition has preliminarily resulted in approximately $1.9 million of goodwill, which is not expected to be deductible for tax purposes and has been assigned entirely to the Company’s MDS segment. The Company believes goodwill primarily relates to strategic fit. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.2 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Argotec, Inc. — On December 8, 2014, the Company completed the acquisition of certain assets of Argotec, Inc. ("Argotec"), located in Longwood, FL in a $0.4 million all-cash transaction. Historical revenues of this business are not material. The acquired business, which is part of the Company's ECP segment, is engaged in developing and manufacturing sonar transducer products and components for the U.S. Navy and also provides aftermarket servicing. These products have been consolidated into the Company's DeLeon Springs, FL location. The Argotec acquisition has resulted in approximately $0.2 million of goodwill, which is not expected to be deductible for tax purposes and has been assigned entirely to the Company’s ECP segment. The Company believes goodwill primarily relates to strategic fit. The Company incurred legal, professional and other costs related to this acquisition aggregating less than $0.1 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Industrial Electronic Devices, Inc. — On December 3, 2014, the Company completed the acquisition of certain assets of Industrial Electronic Devices, Inc. ("IED"), a $3.0 million (unaudited) annual revenue business, located in Flemington, NJ in a $3.3 million all-cash transaction. The transaction includes a $0.5 million escrowed holdback which is available to fund any potential seller indemnification obligations in relation to the acquisition agreement. The acquired business, which is part of the Company's ECP segment, designs and manufactures a full line of ruggedized displays for the Industrial and Marine markets. IED's catalog spans over 600 standard, semi-custom and custom configurations, incorporating some of the most advanced flat panel displays and touch screen technology available. These product lines have been consolidated into the Aydin Displays facility, located in Birdsboro, PA. The IED acquisition has resulted in approximately $2.0 million of goodwill, which is expected to be deductible for tax purposes and has been assigned entirely to the Company’s ECP segment. The Company believes goodwill primarily relates to strategic fit. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.2 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Electronic Manufacturing Technology, LLC. — On July 9, 2014, the Company completed the acquisition of Electronic Manufacturing Technology, LLC. (“eMT”), located in Irvine, CA. The purchase price of $22.1 million which included $1.5 million of acquired cash, is subject to certain post-closing adjustments and was financed through the use of borrowing under the Company's Credit Facility. The transaction includes a $2.4 million escrowed holdback which is available to fund any potential post-closing working capital adjustment and potential seller indemnification obligations in relation to the acquisition agreement. The acquired business, which is part of the Company's MDS segment and which is expected to add $25 million (unaudited) in annualized revenue, is engaged in the contract services business of manufacturing electromechanical controls and electronic assemblies. Their customer profile includes international Fortune 1000 manufacturers of highly reliable industrial excimer laser products, laser eye surgery sub-assemblies, target simulators for space and aviation systems, power modules for computerized tomography products, test systems for commercial aerospace OEMs and toll road antennas and control boxes. The Company is in the process of reviewing the preliminary valuations of certain working capital items. The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of eMT based on Sparton’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 20,000 Post closing working capital adjustment 1,600 Post closing income tax adjustment 469 Total purchase consideration $ 22,069 Assets acquired and liabilities assumed: Cash $ 1,505 Accounts receivable 4,444 Inventory 4,090 Other current assets 26 Property, plant and equipment 584 Customer relationships 5,950 Non-compete agreements 2,730 Trade names 80 Goodwill 6,959 Other long term assets 30 Accounts payable (3,636 ) Other current liabilities (693 ) Total assets acquired and liabilities assumed $ 22,069 The eMT acquisition has resulted in approximately $7.0 million of goodwill, which is expected to be deductible for tax purposes and has been assigned entirely to the Company’s MDS segment. The Company believes goodwill primarily relates to strategic fit, resulting synergies and the acquired workforce that this business brings to existing operations. The fair values of acquired identifiable intangible assets have been determined to be Level 3 under the fair value hierarchy and have been estimated based on projected future cash flows and customer attrition rates, discounted using an estimated weighted average cost of capital. The customer relationships are being amortized using an accelerated methodology over ten years. The non-compete agreements are being amortized using a straight-line methodology over five years. Trade names and trademarks are being amortized using a straight-line methodology over one year. Included in the Company’s Consolidated Statements of Income for the year ended June 30, 2015 are net sales of approximately $ 24.0 million and income before income taxes of approximately $ 2.5 million , since the July 9, 2014 acquisition of eMT. The initial accounting for this acquisition is not complete pending detailed analyses of the facts and circumstances that existed as of the acquisition date. The Company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.6 million for the year ended June 30, 2015. These costs were recognized as selling and administrative expenses and reflected as non-segment corporate and other unallocated costs. Fiscal Year 2014 The following table represents the allocation of the total consideration to assets acquired and liabilities assumed in the 2014 acquisitions based on Sparton’s estimate of their respective fair values at the acquisition date (in thousands): Aubrey Group, Inc. Beckwood Services, Inc. Aydin Displays, Inc. Total purchase consideration: Cash $ 5,300 $ 15,300 $ 15,000 Cash consideration paid for excess cash 573 — — Working capital adjustment (252 ) 46 502 Total purchase consideration $ 5,621 $ 15,346 $ 15,502 Assets acquired and liabilities assumed: Cash $ 1,056 $ — $ — Accounts receivable 680 1,157 2,279 Inventories 184 2,075 6,601 Deferred income taxes 4 108 — Other current assets 22 122 895 Property, plant and equipment 221 83 582 Customer relationships — 10,000 1,500 Non-compete agreements 140 280 — Trade names and trademarks — — 180 Unpatented technology — — 650 Goodwill 4,510 6,731 2,181 Deferred income taxes - non-current 290 (3,761 ) — Other long-term assets — 8 2,292 Accounts payable (173 ) (866 ) (1,215 ) Other current liabilities (1,313 ) (591 ) (443 ) Total assets acquired and liabilities assumed $ 5,621 $ 15,346 $ 15,502 Aubrey Group, Inc. — On March 17, 2014, the Company completed the acquisition of Aubrey Group, Inc. ("Aubrey”), located in Irvine, CA, in a $5.0 million all-cash transaction after settlement of an approximate $0.3 million post-closing working capital adjustment during the first quarter of fiscal 2015. Additional consideration of approximately $0.6 million was paid at closing for cash of the business in excess of net customer deposits held by the Aubrey. The transaction was financed through the use of borrowings under the Company's Credit Facility. The acquired business, a design and manufacturing company, which is part of the MDS segment, develops new products for OEMs in the Medical and Biotechnological markets. Inventors, entrepreneurs and industry leading OEMs utilize Aubrey's design and engineering teams to develop innovative solutions in a timely manner, delivering its clients' new products into the marketplace faster and more cost effectively. Beckwood Services, Inc. — On December 11, 2013, the Company completed the acquisition of Beckwood Services, Inc. ("Beckwood”), located in Plaistow, N.H., in a $15.3 million all-cash transaction financed through the use of cash on hand and borrowings under the Company's Credit Facility. The transaction includes an approximate $1.5 million escrowed holdback which is available to fund potential seller indemnification obligations in relation to the acquisition agreement. The acquired business, which is part of the Company's MDS segment, develops electronic or electro-mechanical controls and electronic assemblies. Their customer profile includes international Fortune 1000 manufacturers of industrial control systems, analytical instruments, measuring and detecting equipment and military, defense and Homeland Security equipment. Aydin Displays, Inc. — On August 30, 2013, the Company completed the acquisition of certain assets and liabilities of Aydin Displays, Inc. ("Aydin Displays" or “Aydin”), located in Birdsboro, PA, in a $15.5 million all-cash transaction, after settlement of a $0.5 million working capital adjustment during the third quarter of the Company's fiscal 2014 year. The transaction was financed through the use of borrowings under the Company's Credit Facility. The transaction includes an approximate $1.2 million escrowed holdback which is available to fund potential seller indemnification obligations in relation to the acquisition agreement. The acquired business, which is part of the Company's ECP segment, develops enhanced flat panel display and touch-screen solutions with application-critical performance criteria including ruggedization, high resolution, color accuracy, response/refresh times, sunlight readability and other criteria such as magnetic interference and emanations security for the Military & Aerospace and Civil Marine markets. These products are currently specified in the U.S. Navy P8A Poseidon ASW aircraft behind-the-cockpit control center, the command and control centers of many U.S. Navy ships, Federal Aviation Administration air traffic control systems and cockpit command centers for various civil marine applications. The acquired business will continue to operate as Aydin Displays. Fiscal Year 2013 The following table represents the allocation of the total consideration to assets acquired and liabilities assumed in the 2013 acquisitions based on Sparton’s estimate of their respective fair values at the acquisition date (in thousands): Creonix, LLC Onyx EMS, LLC Total purchase consideration: Cash $ 2,100 $ 43,250 Working capital adjustment (105 ) 2,188 Total purchase consideration $ 1,995 $ 45,438 Assets acquired and liabilities assumed: Accounts receivables $ — $ 7,529 Inventories 1,321 8,986 Other current assets — 403 Property, plant and equipment 304 13,656 Customer relationships 270 10,200 Non-compete agreements — 200 Goodwill 100 7,195 Accounts payable — (1,654 ) Other current liabilities — (1,077 ) Total assets acquired and liabilities assumed $ 1,995 $ 45,438 Creonix, LLC — On June 6, 2013, the Company completed the acquisition of certain assets related to the contract manufacturing business of Creonix, LLC (“Creonix”) in a $2.0 million all-cash transaction, after settlement of a $0.1 million working capital adjustment during the second quarter of the Company's fiscal 2014 year. The transaction was financed through the use of borrowings under the Company's credit facility. The acquired business, which is reported in the Company's Complex Systems segment, provided the Company with the capability of cable and wire harness engineering and assembly. Additionally, the acquisition provided further expansion into the Industrial and Military & Aerospace markets, diversified Sparton's customer base and increased utilization of the Company's existing assets through the consolidation of this business into Complex Systems's Brooksville, Florida plant. Creonix primarily manufactures products and components for battery monitoring, high speed optical imaging, neuromuscular incapacitation, imaging and wiring assemblies for military applications and electrical grid transformer protection systems. Onyx EMS, LLC — On November 15, 2012, the Company completed the acquisition of Onyx EMS, LLC (“Onyx”) in a $43.3 million all-cash transaction, subject to certain post-closing adjustments, which was financed through the use of Company cash and borrowings under the Company's credit facility. Additional consideration of $2.2 million was paid in relation to a post-closing working capital adjustment, which was settled in the Company's fiscal 2013 third quarter. The acquired business, which is reported in the Company's Medical segment, provided further expansion regionally into the Minneapolis medical device corridor, diversified the Company's customer base through both existing programs and a strong business development pipeline, and increased the number of complex sub-assembly and full device programs within Sparton. Additionally, Onyx brought long-term customers which can utilize Sparton's expanded list of service offerings such as our low cost country footprint in Vietnam and full engineering design capabilities. Onyx primarily manufactures medical devices for OEM and ET companies, including products for cardiovascular diagnostics, hearing assistance, patient temperature and warming, point-of-care diagnostics and surgical equipment used in intraosseous medicine. Onyx also produces products such as precision measurement instruments for monitoring air quality and pollution, commercial fire and smoke alarm systems, sensing tools, test fixtures, and complex LED assemblies. Pro Forma Results The following table summarizes, on a pro forma basis, the combined results of operations of the Company and the acquired businesses of Hunter, Stealth, KEP, RTEmd, Argotec, IED and eMT, as though the acquisitions had occurred as of July 1, 2013 and Aubrey, Beckwood and Aydin as though the acquisitions had occurred as of July 1, 2012. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the acquisitions occurred as of July 1, 2013 and 2012, respectively, or of future consolidated operating results (in thousands, except per share amounts): For the Year Ended June 30, 2015 June 30, 2014 Net sales $ 461,734 $ 465,229 Income before income taxes $ 19,345 $ 33,654 Net income $ 15,219 $ 27,296 Net income per share — basic $ 1.54 $ 2.70 Net income per share — diluted $ 1.54 $ 2.69 Pro forma results presented above reflect: (1) incremental depreciation relating to fair value adjustments to property, plant and equipment; (2) amortization adjustments relating to fair value estimates of intangible assets; (3) elimination of interest expense relating to debt paid off in conjunction with the transaction; (4) incremental interest expense on assumed indebtedness and amortization of capitalized financing costs incurred in connection with the transactions; and (5) additional cost of goods sold relating to the capitalization of gross profit recognized in the year of acquisition as part of purchase accounting recognized for purposes of the pro forma as if it was recognized during the preceding year. Pro forma adjustments described above have been tax effected using Sparton's effective rate during the respective periods.

Inventories and Cost of Contrac

Inventories and Cost of Contracts in Progress, net	12 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories and Cost of Contracts in Progress, net	Inventories and Cost of Contracts in Progress, net The following are the major classifications of inventory, net of interim billings, at June 30, 2015 and 2014 (in thousands): June 30, June 30, Raw materials $ 60,668 $ 40,535 Work in process 19,047 10,609 Finished goods 7,244 10,188 Total inventory and cost of contracts in progress, gross 86,959 61,332 Inventory to which the U.S. government has title due to interim billings (7,456 ) (7,960 ) Total inventory and cost of contracts in progress, net $ 79,503 $ 53,372 The Company recorded inventory write-downs totaling $0.9 million and $0.5 million for fiscal years 2015 and 2014, respectively. These charges are included in cost of goods sold for the periods presented.

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consists of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Land and land improvements $ 1,429 $ 1,429 Buildings and building improvements 27,482 25,779 Machinery and equipment 36,923 29,480 Construction in progress 2,278 1,893 Total property, plant and equipment 68,112 58,581 Less accumulated depreciation (35,504 ) (30,058 ) Property, plant and equipment, net $ 32,608 $ 28,523

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Changes in the carrying value of goodwill for the years ended June 30, 2015 and 2014, and the ending composition of goodwill as of June 30, 2015 and June 30, 2014, are as follows (in thousands): June 30, 2015 Manufacturing & Design Services Engineered Components & Products Total Goodwill, beginning of period $ 26,008 $ 2,181 $ 28,189 Additions to goodwill during the period 35,504 10,482 45,986 Goodwill, end of period $ 61,512 $ 12,663 $ 74,175 June 30, 2014 Manufacturing & Design Services Engineered Components & Products Total Goodwill, beginning of period $ 14,767 $ — $ 14,767 Additions to goodwill during the period 11,241 2,181 13,422 Goodwill, end of period $ 26,008 $ 2,181 $ 28,189 June 30, 2015 Manufacturing & Design Services Engineered Components & Products Total Acquired goodwill $ 74,665 $ 12,663 $ 87,328 Accumulated impairment (13,153 ) — (13,153 ) Goodwill $ 61,512 $ 12,663 $ 74,175 June 30, 2014 Manufacturing & Design Services Engineered Components & Products Total Acquired goodwill $ 39,161 $ 2,181 $ 41,342 Accumulated impairment (13,153 ) — (13,153 ) Goodwill $ 26,008 $ 2,181 $ 28,189 The amortization periods, gross carrying amounts, accumulated amortization, accumulated impairments and net carrying values of intangible assets at June 30, 2015 and June 30, 2014 are as follows (dollars in thousands): Original Amortization Period in Months Gross Carrying Amount Accumulated Amortization Accumulated Impairments Net Carrying Value June 30, 2015 Amortized intangible assets: Non-compete agreements 24 - 60 $ 4,229 $ (1,100 ) $ — $ 3,129 Customer relationships 84 - 180 56,595 (12,806 ) (3,663 ) 40,126 Trademarks/Trade names 12 - 120 1,696 (145 ) — 1,551 Unpatented technology 84 1,341 (322 ) — 1,019 $ 63,861 $ (14,373 ) $ (3,663 ) $ 45,825 June 30, 2014 Amortized intangible assets: Non-compete agreements 24 - 60 $ 420 $ (46 ) $ — $ 374 Customer relationships 120 - 180 29,870 (7,220 ) (3,663 ) 18,987 Trademarks/trade names 120 180 (15 ) — 165 Unpatented technology 84 650 (135 ) — 515 $ 31,120 $ (7,416 ) $ (3,663 ) $ 20,041 Sparton did not incur any significant costs to renew or alter the terms of its intangible assets during the year ended June 30, 2015. Amortization expense for the years ended June 30, 2015, 2014 and 2013 were approximately $6.6 million , $3.4 million and $1.6 million , respectively. A portion of the 2015 amortization expense is included in cost of goods sold on the income statement. Aggregate amortization expense relative to existing intangible assets for the periods shown is currently estimated to be as follows (in thousands): Fiscal Year Ending June 30, 2016 $ 9,445 2017 8,384 2018 7,234 2019 6,215 2020 and thereafter 14,547 Total $ 45,825

Debt

Debt	12 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Borrowings under Credit Facility 154,500 41,000 Less: current portion — (900 ) Long-term debt, net of current portion $ 154,500 $ 40,100 Current maturities of long-term debt at June 30, 2014 reflects the current portions of the Company’s previous credit facility. On September 11, 2014, the Company replaced its previous credit facility with a new $200 million revolving line-of-credit facility with a group of banks (the “Credit Facility”) to fund future acquisitions and to support the Company’s working capital needs and other general corporate purposes. The Company expensed the remaining $0.4 million of deferred financing costs relating to the previous credit facility in the first quarter of fiscal 2015. On April 13, 2015, the Company amended the Credit Facility to increase the size of the revolving line-of-credit facility by $75 million to $275 million , reload uncommitted loans under the agreement and to make other sublimit and definitional changes. The Company has the right to request an increase of the facility in an amount of up to $100 million . The facility is secured by substantially all assets of the Company and its subsidiaries and expires on September 11, 2019. Outstanding borrowings under the Credit Facility will bear interest, at the Company’s option, at either LIBOR, fixed for interest periods of one, two, three or six month periods, plus 1.00% to 1.75% , or at the bank’s base rate, as defined, plus 0.00% to 0.75% , based upon the Company’s Total Funded Debt/EBITDA Ratio, as defined. The Company is also required to pay commitment fees on unused portions of the Credit Facility ranging from 0.20% to 0.35% , based on the Company’s Total Funded Debt/EBITDA Ratio, as defined. The Credit Facility includes representations, covenants and events of default that are customary for financing transactions of this nature. The effective interest rate on outstanding borrowings under the Credit Facility was 1.98% at June 30, 2015. As a condition of the Credit Facility, the Company is subject to certain customary covenants, with which it was in compliance at June 30, 2015. As of June 30, 2015, the Company had approximately $119.8 million available under its $275 million credit facility, reflecting borrowings of $154.5 million and certain letters of credit outstanding of $0.7 million . Additionally, the Company had available cash and cash equivalents of $14.9 million . As of that date, the Company had received performance based payments under U.S. Navy contracts in excess of the funding of production to date under those contracts of $1.8 million and were reported in the Consolidated Balance Sheets as other accrued expenses.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income (loss) before income taxes by country consists of the following amounts (in thousands): For the year ended June 30, 2015 2014 2013 United States $ 14,533 $ 18,915 $ 15,239 Vietnam 38 691 936 Canada 384 (4 ) (3 ) $ 14,955 $ 19,602 $ 16,172 Income taxes consists of the following components (in thousands): For the year ended June 30, 2015 2014 2013 Current: United States $ 4,317 $ 6,913 $ 2,346 Vietnam 6 134 85 Canada 15 — — State and local 501 544 430 4,839 7,591 2,861 Deferred: United States 465 (852 ) (14 ) Vietnam — 7 — Canada (1,055 ) — — State and local (283 ) (131 ) (145 ) (873 ) (976 ) (159 ) $ 3,966 $ 6,615 $ 2,702 The consolidated effective income tax rate differs from the statutory U.S. federal tax rate for the following reasons and by the following percentages: For the year ended June 30, 2015 2014 2013 Statutory U.S. federal income tax rate 35.0 % 35.0 % 34.0 % Significant increases (reductions) resulting from: Changes in valuation allowance (7.5 ) — — Domestic production activities deduction (2.7 ) (2.7 ) (2.1 ) Foreign tax rate differences (0.2 ) (0.7 ) (1.4 ) State and local income taxes, net of federal benefit 2.7 2.3 1.8 Canadian worthless stock and bad debt deduction — — (12.5 ) Other (0.8 ) (0.2 ) (3.1 ) Effective income tax rate 26.5 % 33.7 % 16.7 % Significant components of deferred income tax assets and liabilities at June 30, 2015 and 2014, are as follows (in thousands): June 30, June 30, Deferred tax assets: Goodwill $ (5 ) $ 906 Environmental remediation 2,254 2,458 Inventories 3,298 2,694 Employment and compensation accruals 1,341 1,090 Capital loss carryover 263 263 State tax carryovers 373 236 Canadian tax benefits — 2,063 Canadian tax carryovers 1,164 — Pension asset 148 — Other 2,463 1,303 Deferred tax assets 11,299 11,013 Less valuation allowance (393 ) (2,456 ) Deferred tax assets, net 10,906 8,557 Deferred tax liabilities: Property, plant and equipment (1,430 ) (1,296 ) Intangible assets (237 ) (1,397 ) Pension asset — (16 ) Other (2,326 ) (843 ) Deferred tax liabilities (3,993 ) (3,552 ) Net deferred tax assets $ 6,913 $ 5,005 Net deferred income tax assets are included in the balance sheets at June 30, 2015 and 2014, as follows (in thousands): June 30, June 30, Current deferred income tax assets, net $ 4,714 $ 3,813 Long term deferred income tax assets, net 2,199 1,192 $ 6,913 $ 5,005 In preparing the Company's consolidated financial statements, management has assessed the likelihood that its deferred income tax assets will be realized from future taxable income. In evaluating the ability to recover its deferred income tax assets, management considers all available evidence, positive and negative, including the Company's operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction by jurisdiction basis. A valuation allowance is established if it is determined that it is more likely than not that some portion or all of the net deferred income tax assets will not be realized. Management exercises significant judgment in determining the Company's income tax expense, its deferred income tax assets and liabilities and its future taxable income for purposes of assessing its ability to utilize any future tax benefit from its deferred income tax assets. Although management believes that its tax estimates are reasonable, the ultimate tax determination involves significant judgments that could become subject to audit by tax authorities in the ordinary course of business. As of each reporting date management considers new evidence, both positive and negative, that could impact management's view with regards to future realization of deferred tax assets. The Company has deferred tax assets of $0.1 million and $0.4 million related to Federal and state net operating losses, respectively, which will expire beginning in 2031 and 2029, respectively. For financial reporting purposes, valuation allowances related to capital loss carryovers and state income tax carryovers are approximately $0.3 million as of both June 30, 2015 and 2014, with expiration beginning in 2017 and 2029, respectively. As of June 30, 2015, the Company has Canadian gross operating loss carryforwards of $4.4 million related to the Company's prior Canadian operations, which will begin to expire in 2029. In prior years, a full valuation allowance was established against these deferred tax assets. During fiscal 2015, in relation to its acquisition of the assets of Stealth.com, the Company reversed this valuation allowance as management now believes that the realization of these deferred tax assets is more likely than not. In making these decisions to both record a valuation allowance and to restore the deferred tax assets, the Company considered all available positive and negative evidence, including historical operating performance and projected future taxable income. The Company's Vietnam operations are subject to a four -year tax holiday from the time the entity began to generate taxable income through 2015, which provides a preferential tax rate of 15% due to involvement in encouraged investments projects in Vietnam. The Company's Vietnamese operations resulted in taxable income in each of the years ended June 30, 2015, 2014, and 2013. The dollar effects on the Company's net income resulting from the Vietnam tax holiday and incentives for the fiscal years ended June 30, 2014 and 2013 were $0.0 million and $0.1 million , respectively. The effects on basic and diluted earnings per share for the fiscal years ended June 30, 2015, 2014 and 2013 were $0.00 , $0.01 and $0.01 , respectively. During fiscal 2013, the Company recognized a $2.1 million income tax benefit for a worthless stock and bad debt deduction with respect to its investments and advances to its 100% owned Canadian subsidiary, Sparton of Canada, Ltd. Sparton of Canada, Ltd. is the legal entity that held the Company's Canadian operations until these operations were ceased during fiscal 2009. The Company's income tax returns are subject to audit by federal, state and local governments, generally up to three to four years after the returns are filed. These returns could be subject to material adjustments or differing interpretations of the tax laws. The Company has not been notified by any major federal, state or local government that it will be subject to examination and open years include fiscal years 2008 through 2015.

Employee Retirement Benefit Pla

Employee Retirement Benefit Plans	12 Months Ended
	Jun. 30, 2015
Defined Benefit and Defined Contribution Pension Plans Disclosure [Abstract]
Employee Retirement Benefit Plans	Employee Retirement Benefit Plans Defined Benefit Pension Plan As of June 30, 2015, 341 employees and retirees of the Company were covered by a defined benefit pension plan. Effective April 1, 2009, participation and the accrual of benefits in this pension plan were frozen, at which time all participants became fully vested and all remaining prior service costs were recognized. The components of net periodic pension expense for the years ended June 30, 2015, 2014 and 2013 were as follows (in thousands): For the year ended June 30, 2015 2014 2013 Interest cost 326 355 343 Expected return on plan assets (560 ) (524 ) (514 ) Amortization of unrecognized net actuarial loss 81 128 183 Net periodic benefit (income) cost (153 ) (41 ) 12 Pro rata recognition of lump-sum settlements — 85 — Total periodic pension (income) expense $ (153 ) $ 44 $ 12 The weighted average assumptions used to determine benefit obligations and net periodic benefit cost for fiscal 2015, 2014 and 2013 were as follows: Benefit Obligation Benefit Cost 2015 2014 2013 2015 2014 2013 Discount rate (1) 4.45 % 4.35 % 4.75 % 4.35 % 4.75 % 4.25 % Rate of compensation increase (2) — — — — — — Expected long-term rate on plan assets (3) 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % (1) The Company determines its assumption for the discount rate on an index of high-quality corporate bond yields and matching-funding yield curve analysis. (2) The rate of compensation increase for calculation of the benefit obligation is 0.0% due to the freezing of the plan as of April 1, 2009. (3) The expected long-term rate of return for plan assets is based on similar indices such as Citigroup Pension Liability Index and Composite Corporate Bond Rates as of the measurement date. At June 30, 2015 and 2014, as a result of the fiscal 2009 plan curtailment, the accumulated benefit obligation is equal to the projected benefit obligation. The following tables summarize the changes in benefit obligations, plan assets and funded status of the plan at June 30, 2015 and 2014 (in thousands): June 30, June 30, Change in prepaid benefit cost: Prepaid benefit cost at beginning of fiscal year $ 1,643 $ 1,543 Net periodic benefit income (cost) for fiscal year 68 41 Employer contributions to plan — 59 Prepaid benefit cost at end of fiscal year $ 1,711 $ 1,643 Change in projected benefit obligation: Projected benefit obligation at beginning of fiscal year $ 8,107 $ 8,166 Interest cost 326 355 Actuarial experience and changes in assumptions 549 389 Benefits paid (632 ) (803 ) Projected benefit obligation at end of fiscal year $ 8,350 $ 8,107 Change in plan assets: Fair value of plan assets at beginning of fiscal year $ 8,151 $ 7,748 Employer contributions — 59 Actual return on plan assets 407 1,147 Benefits paid (632 ) (803 ) Fair value of plan assets at end of fiscal year $ 7,926 $ 8,151 Amounts recognized in the Consolidated Balance Sheets: Pension asset $ — $ 44 Pension liability — non-current portion (424 ) — Funded status — total balance sheet asset (liability) $ (424 ) $ 44 The Company’s policy is to fund the plan based upon legal requirements and tax regulations. For fiscal 2015, no cash contributions were made to the plan, and based upon current actuarial calculations and assumptions, no cash contributions are anticipated for fiscal 2016. Anticipated contributions, if any, are reflected as a current portion of the pension liability. During the years ended June 30, 2014 and 2013, approximately $0.1 million and $0.2 million , respectively, was contributed to the pension plan. Pension related amounts recognized in other comprehensive income (loss), excluding tax effects, for the years ended June 30, 2015, 2014 and 2013 are as follows (in thousands): For the year ended June 30, 2015 2014 2013 Amortization of unrecognized net actuarial loss $ 81 $ 128 $ 183 Pro rata recognition of lump-sum settlements — 85 — Net actuarial (loss) gain (702 ) 234 541 Total recognized in other comprehensive income (loss) $ (621 ) $ 447 $ 724 The amounts in accumulated other comprehensive loss on the consolidated balance sheets, excluding tax effects, that have not yet been recognized as components of net periodic benefit cost at June 30, 2015 and 2014 are as follows (in thousands): June 30, June 30, Accumulated other comprehensive loss: Net actuarial loss $ 2,134 $ 1,513 Total $ 2,134 $ 1,513 The estimated amount that will be amortized from accumulated other comprehensive loss, pre-tax, into net periodic pension cost in fiscal 2016 is expected to total approximately $0.1 million , consisting of amortization of unrecognized actuarial loss as well as lump sum settlement charges. Expected benefit payments for the defined benefit pension plan for the next ten fiscal years are as follows (in thousands): Fiscal Year Ended June 30, 2016 $ 990 2017 712 2018 668 2019 565 2020 569 2021 – 2025 2,517 Total $ 6,021 The Company’s investment policy related to pension plan assets is based on a review of the actuarial and funding characteristics of the plan. Capital market risk and return opportunities are also considered. The investment policy’s primary objective is to achieve a long-term rate of return consistent with the actuarially determined requirements of the plan, as well as maintaining an asset level sufficient to meet the plan’s benefit obligations. A target allocation range between asset categories has been established to enable flexibility in investment, allowing for a better alignment between the long-term nature of pension plan liabilities, invested assets and current and anticipated market returns on those assets. Below is a summary of pension plan asset allocations as of June 30, 2015 and 2014, by asset category: Weighted Average Allocation For the Year Ended June 30, Target 2015 2014 Equity securities 40%-70% 60 % 61 % Fixed income (debt) securities 30%-60% 37 % 37 % Cash and cash equivalents 0%-10% 3 % 2 % 100 % 100 % The fair value of all the defined benefit pension plan assets is based on quoted prices in active markets for identical assets which are considered Level 1 inputs within the fair value hierarchy described in Note 2, of the "Notes to Consolidated Financial Statements" in this form 10-K. The total estimated fair value of plan assets by asset class at June 30, 2015 and 2014 were as follows (in thousands): June 30, June 30, Asset Class: Equity securities: Directly held corporate stock — Large Cap $ 2,394 $ 2,152 Registered investment companies — Large Cap 1,079 1,336 Registered investment companies — Mid-Cap Growth 287 343 Registered investment companies — Small-Cap 359 318 Registered investment companies — International 646 873 Fixed income (debt) securities: Registered investment companies — Intermediate Bond 2,896 2,990 Cash and cash equivalents 265 139 Total assets measured at fair value $ 7,926 $ 8,151 Defined Contribution Plans Substantially all of the Company’s U.S. employees are eligible to participate in the Company’s 401(k) defined contribution plan. The plan allows employees to contribute up to 100% of their eligible compensation up to a maximum amount allowed by law and provides that the Company may, at its discretion, make matching contributions, profit sharing contributions or qualified non-elective contributions. During each of the years ended June 30, 2015, 2014 and 2013, the Company matched 50% of participants’ contributions up to 6% of their eligible compensation. Under the plan, at the election of the participant, both employee and employer contributions may be invested in any of the available investment options, which include Sparton common stock. As of June 30, 2015, approximately 111,000 shares of Sparton common stock were held in the 401(k) plan. Amounts expensed related to the Company’s matching contributions and administrative expenses for the plan were approximately $1.2 million , $1.2 million and $0.9 million for the years ended June 30, 2015, 2014 and 2013, respectively. As of June 30, 2015, plan assets totaled approximately $44.4 million .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases — The Company is obligated under operating lease agreements for a portion of its production machinery and data processing equipment. Such leases, some of which are non-cancelable and in many cases include purchase or renewal options, expire at various dates and typically provide for monthly payments over a fixed term in equal, non-escalating amounts. Generally, the Company is responsible for maintenance, insurance and taxes relating to these leased assets. The Company is additionally obligated under various operating lease agreements, with its corporate headquarters in Schaumburg, Illinois. Each of these leases provide for escalating minimum monthly base rental payments, require the Company to provide for maintenance, insurance and property taxes in addition to minimum monthly base rental and include renewal options. At June 30, 2015, the future minimum annual lease payments under these agreements are as follows (in thousands): For the fiscal years ended: 2016 $ 2,547 2017 2,737 2018 2,080 2019 1,431 2020 1,338 Thereafter 2,381 Total $ 12,514 Rent expense was approximately $2.5 million , $1.5 million and $1.4 million for the years ended June 30, 2015, 2014 and 2013, respectively. Included in rent expense for the years ended June 30, 2015, 2014 and 2013 was approximately $0.5 million , $0.3 million and $0.2 million , respectively, of contingent rent expense primarily relating to the Company’s corporate headquarters in Schaumburg, Illinois and its Frederick, Colorado facility. Environmental Remediation — Sparton has been involved with ongoing environmental remediation since the early 1980’s related to one of its former manufacturing facilities, located in Albuquerque, New Mexico (“Coors Road”). Although the Company entered into a long-term lease of the Coors Road property that was accounted for as a sale of property during fiscal 2010, it remains responsible for the remediation obligations related to its past operation of this facility. During the fourth quarter of each fiscal year, Sparton performs a review of its remediation plan, which includes remediation methods currently in use, desired outcomes, progress to date, anticipated progress and estimated costs to complete the remediation plan by fiscal 2030, following the terms of a March 2000 Consent Decree. The Company’s minimum cost estimate is based upon existing technology and excludes certain legal costs, which are expensed as incurred. The Company’s estimate includes equipment and operating and maintenance costs for onsite and offsite pump and treat containment systems, as well as continued onsite and offsite monitoring. It also includes periodic reporting requirements. The review performed in the fourth quarter of fiscal 2015 did not result in changes to the related liability. During the 2014 review, the Company found: additional concentrations of contaminants on-site that required clean-up actions previously not included within the remediation plan; progress to date on the removal of certain other on-site contaminants was taking place slower than previously anticipated; and that certain efficiencies regarding periodic reporting were not being realized as had been previously anticipated. The discovery of additional on-site contaminants, slower than expected removal rates of other on-site contaminants and continued high periodic reporting costs added significant additional costs to the remediation project that are expected to continue for a number of years. As a result, the remaining estimated minimum future undiscounted costs of this financial liability increased to $8.2 million at June 30, 2014, thereby requiring a $4.2 million non-cash charge against operations in the fourth quarter of fiscal 2014. As of June 30, 2015, Sparton has accrued approximately $7.8 million as its estimate of the remaining minimum future undiscounted financial liability with respect to this matter, of which approximately $0.7 million is classified as a current liability and included on the balance sheet in other accrued expenses. In fiscal 2003, Sparton reached an agreement with the United States Department of Energy (“DOE”) and others to recover certain remediation costs. Under the settlement terms, Sparton received cash and obtained some degree of risk protection as the DOE agreed to reimburse Sparton for 37.5% of certain future environmental expenses in excess of $8.4 million incurred from the date of settlement, of which approximately $6.0 million has been expended as of June 30, 2015 toward the $8.4 million threshold. It is expected that the DOE reimbursements will commence in the years after fiscal 2020. At June 30, 2015 and 2014, the Company recognized $1.8 million and $1.5 million in long-term assets in relation to these expected reimbursements and is considered collectible. The DOE receivables of $1.8 million at June 30, 2015 and the $1.5 million at June 30, 2014 are included in other non-current assets on the balance sheet. Uncertainties associated with environmental remediation contingencies are pervasive and often result in wide ranges of reasonably possible outcomes. Estimates developed in the early stages of remediation can vary significantly. Normally a finite estimate of cost does not become fixed and determinable at a specific point in time. Rather, the costs associated with environmental remediation become estimable over a continuum of events and activities that help to frame and define a liability. Factors which cause uncertainties for the Company include, but are not limited to, the effectiveness of the current work plans in achieving targeted results and proposals of regulatory agencies for desired methods and outcomes. It is possible that cash flows and results of operations could be materially affected by the impact of changes associated with the ultimate resolution of this contingency. At June 30, 2015, the Company estimates that it is reasonably possible, but not probable, that future environmental remediation costs associated with the Company’s past operations at the Coors Road property, in excess of amounts already recorded, could be up to $2.9 million before income taxes over the next fifteen years, with such amount expected to be offset by related reimbursement from the DOE of $1.0 million . The Company and its subsidiaries are also involved in certain existing compliance issues with the EPA and various state agencies, including being named as a potentially responsible party at several sites. Potentially responsible parties ("PRPs") can be held jointly and severally liable for the clean-up costs at any specific site. The Company’s past experience, however, has indicated that when it has contributed relatively small amounts of materials or waste to a specific site relative to other PRPs, its ultimate share of any clean-up costs has been minor. Based upon available information, the Company believes it has contributed only small amounts to those sites in which it is currently viewed as a PRP and that reasonably possible losses related to these compliance issues are immaterial. Litigation — On September 24, 2013, L-3 Communications Corporation, doing business as L-3 Linkabit ("L-3"), filed a complaint in the United States District Court for the Middle District of Florida, Orlando Division, against Sparton Corporation and Sparton Electronics. On August 24 , 2015, Sparton and L-3 signed a mutual accord resolving the dispute. The agreement requires Sparton to pay L-3 $2.5 million on or before October 1, 2015 in consideration for dismissal of the litigation and is recorded in other accrued expenses on the Consolidated Balance Sheets. Neither party admitted to any mistakes, damage or fault. U.S. Government Audits — Federal government agencies, including the Defense Contract Audit Agency and the Defense Contract Management Agency, routinely audit and evaluate government contracts and government contractors’ administrative processes and systems. These agencies review the Company’s performance on contracts, pricing practices, cost structure, financial capability and compliance with applicable laws, regulations and standards. They also review the adequacy of the Company’s internal control systems and policies, including the Company’s purchasing, accounting, estimating, compensation and management information processes and systems. The Company works closely with these agencies to ensure compliance. The Company is not aware of any issues of noncompliance that would have a material impact on the Company’s financial position or results of operations. Other — In addition to the foregoing, from time to time, the Company is involved in various legal proceedings relating to claims arising in the ordinary course of business. The Company is not currently a party to any other such legal proceedings, the adverse outcome of which, individually or in the aggregate, is expected to have a material adverse effect on our business, financial condition or results of operations.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has two long-term incentive plans. The Sparton Corporation Stock Incentive Plan, as amended and restated (the “2001 Plan”) was approved by the Company’s shareholders on October 24, 2001. The Sparton Corporation 2010 Long-Term Incentive Plan (the “2010 Plan”) was approved by the Company’s shareholders on October 28, 2009. 2001 Plan. Under the 2001 Plan, the Company may grant to employees and non-employee directors incentive and non-qualified stock options, stock appreciation rights, restricted stock and other stock-based awards . All of the stock options issued to date under the 2001 Plan have either three, five or ten-year lives with either immediate vesting or vesting on an annual basis over four years beginning one year after grant date . Restricted stock awards granted to date to employees under the 2001 Plan vest annually over periods ranging from approximately 2.5 to 4.0 years, in some cases subject to achievement of certain financial performance metrics in addition to the service requirements. Unrestricted stock awards granted to date under the 2001 Plan represent annual stock grants to directors as a component of their overall compensation. The 2001 Plan’s termination date with respect to the granting of new awards was October 24, 2011 . The total number of shares authorized to be granted under the 2001 Plan was 970,161 shares of the Company’s common stock, which equals the number of underlying awards previously made under the 2001 Plan. 2010 Plan. Under the 2010 Plan, the Company may grant to employees, officers and directors of the Company or its subsidiaries incentive and non-qualified stock options, stock appreciation rights, restricted stock or restricted stock units, performance awards and other stock-based awards, including grants of shares . Restricted stock awards granted to date to employees under the 2010 Plan vest annually over four years, subject to achievement of certain financial performance metrics in addition to the service requirements . Unrestricted stock awards granted to date under the 2010 Plan represent annual stock grants to directors as a component of their overall compensation. The 2010 Plan has a term of ten years. The total number of shares that may be awarded under the 2010 Plan is 1,000,000 shares of common stock, of which amount, 511,338 shares remain available for awards as of June 30, 2015. The following table shows stock-based compensation expense by type of share-based award for the years ended June 30, 2015, 2014 and 2013 included in the consolidated statements of income (in thousands): For the year ended June 30, 2015 2014 2013 Fair value expense of stock option awards $ 352 $ — $ — Restricted stock units 518 — — Restricted and unrestricted stock 1,015 1,662 1,128 Total stock-based compensation $ 1,885 $ 1,662 $ 1,128 The following table shows the total remaining unrecognized compensation cost related to restricted stock grants, restricted stock units grants and the fair value expense of stock option awards, as well as the weighted average remaining required service period over which such costs will be recognized as of June 30, 2015: Total Remaining Unrecognized Compensation Cost (in thousands) Weighted Average Remaining Required Service Period (in years) Fair value expense of stock option awards $ 633 1.80 Restricted stock units 1,026 1.83 Restricted stock 471 1.47 $ 2,130 1.74 During the year ended June 30, 2015, the Company awarded an aggregate of 123,684 stock options to certain members of management with a weighted average exercise price of $26.58 . The fair value of each stock option is estimated at the grant date using the Black-Scholes option pricing method. The table below outlines the weighted average assumptions used for the options granted during the year ended June 30, 2015: Weighted Average Risk free interest rate 2.06 % Volatility 34.10 % Dividend yield — Expected life in years 6.25 Fair value price $9.99 The risk-free interest rate was determined using the then implied yield currently available for zero-coupon U.S. government issues with a remaining term equal to the expected life of the stock options. The expected volatility assumption used in the Black-Scholes option pricing models was based on the historical volatility of the Company’s common stock. The Company does not currently intend to pay cash dividends and thus has assumed a 0% dividend yield. The Company estimates the expected life for stock options based on expected future exercise patterns. The Company did not grant any stock options during the years ended June 30, 2014 or 2013. The following is a summary of activity for the year-ended June 30, 2015 related to the Company’s stock options granted under its long-term incentive plans: Number of Options Weighted- Average Exercise Price Options outstanding as of June 30, 2014 38,543 $ 8.57 Granted 123,684 26.58 Exercised (19,247 ) 8.57 Forfeited (35,396 ) 16.89 Expired — — Options outstanding as of June 30, 2015 107,584 $ 26.54 The following is a summary of options outstanding at June 30, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractural Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) Number Exercisable Weighted Average Remaining Contractural Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) $23.85-$26.86 107,584 9.33 26.54 — — — — — The aggregate intrinsic value of options outstanding at June 30, 2015 was approximately $0.1 million . The following is a summary of activity for the year-ended June 30, 2015 related to restricted stock units granted under the Company’s long-term incentive plans: Shares Weighted Average Fair Value Restricted stock units at June 30, 2014 — $ — Granted 75,045 26.70 Forfeited (12,217 ) 26.35 Restricted stock units at June 30, 2015 62,828 $ 26.77 The following is a summary of activity for the year-ended June 30, 2015 related to restricted stock granted under the Company’s long-term incentive plans: Shares Weighted Average Fair Value Restricted stock at June 30, 2014 316,997 $ 12.38 Granted 26,793 25.86 Vested (172,459 ) 11.16 Forfeited (39,032 ) 19.56 Restricted stock at June 30, 2015 132,299 $ 14.58 The total fair value of restricted stock vested in the years ended June 30, 2015, 2014 and 2013 was $4.3 million , $1.6 million and $1.0 million , respectively.

Earnings Per Share Data

Earnings Per Share Data	12 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share Data	Earnings Per Share Data Earnings per share calculations, including weighted average number of shares of common stock outstanding used in calculating basic and diluted income per share, for the years ended June 30, 2015, 2014 and 2013 are as follows (in thousands, except share data): For the For the Years Ended June 30, 2015 June 30, 2014 June 30, 2013 Net income $ 10,989 $ 12,987 $ 13,470 Less net income allocated to contingently issuable participating securities (126 ) — — Net income available to common shareholders $ 10,863 $ 12,987 $ 13,470 Weighted average shares outstanding – Basic 9,874,441 10,109,915 10,193,530 Dilutive effect of stock options 11,520 31,480 35,157 Weighted average shares outstanding – Diluted 9,885,961 10,141,395 10,228,687 Net income available to common shareholders per share: Basic $ 1.10 $ 1.28 $ 1.32 Diluted $ 1.10 $ 1.28 $ 1.32 For the years ended June 30, 2015, 2014 and 2013, 132,299 , 316,997 and 311,253 , respectively, unvested restricted shares were included in determining both basic and diluted earnings per share. There were no potential shares of common stock issuable upon exercise of stock options excluded from diluted income per share computations because none would be anti-dilutive for the years ended June 30, 2015, 2014 and 2013.

Stock Repurchase Plan

Stock Repurchase Plan	12 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stock Repurchase Plan	Stock Repurchase Plan On October 22, 2014, the Company’s Board of Directors approved a repurchase by the Company of up to $5.0 million of shares of its common stock. The Company was authorized to purchase shares from time to time in open market, block and privately negotiated transactions. The stock repurchase program did not require the Company to repurchase any specific number of shares. Pursuant to this stock repurchase program, during fiscal 2015, the Company purchased 181,278 shares of its common stock at an average price of $27.55 per share for approximately $5.0 million . On May 1, 2013, the Company’s Board of Directors approved a repurchase by the Company of up to $3.0 million of shares of its common stock over a 12 -month period. The Company was authorized to purchase shares from time to time in open market, block and privately negotiated transactions at prices deemed appropriate by management, depending on market conditions, applicable laws and other factors. The stock repurchase program did not require the Company to repurchase any specific number of shares and could be modified, extended or terminated by the Board of Directors at any time. Pursuant to this stock repurchase program, during fiscal 2014, the Company purchased 47,119 shares of its common stock at an average price of $18.51 per share for approximately $0.9 million , and during fiscal 2013, the Company purchased 128,158 shares of its common stock at an average price of $16.55 per share for approximately $2.1 million . Total shares purchased pursuant to this stock repurchase program totaled 175,277 at an average price of $17.08 . Shares purchased under the both plans were canceled upon repurchase. As of June 30, 2015, all authorized funds under the stock repurchase program have been expended.

Restructuring Activities

Restructuring Activities	12 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities Creonix Acquisition Related Restructuring In conjunction with the fiscal 2013 Creonix acquisition, the Company consolidated the Creonix operations into the Company’s Brooksville, Florida facility. These integration activities consisted primarily of approximately $0.2 million of workforce severance and retention costs, less than $0.1 million of production transfer costs and less than $0.1 million of facility closing costs. Inception to date restructuring charges recognized within the Complex Systems segment of approximately $0.2 million were incurred as of September 30, 2013 associated with these acquisition related restructuring activities. The Company does not expect to recognize any additional costs associated with these restructuring activities. All cash expenditures associated with these activities were made as of June 30, 2014.

Business Segments

Business Segments	12 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segments	Business Segments The Company is a provider of design, development and manufacturing services for complex electromechanical devices, as well as sophisticated engineered products complementary to the same electromechanical value stream. The Company serves the Medical & Biotechnology, Military & Aerospace and Industrial & Commercial markets through two reportable business segments; Manufacturing & Design Services and Engineered Components & Products. Reportable segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker ("CODM") in assessing performance and allocating resources. The Company's CODM is its Senior Vice President of Operations. During the first quarter of fiscal 2015, the Company changed the way it internally reports, manages and the CODM evaluates the business and subsequently revised its reportable segments. The prior reportable segments of Medical and Complex Systems have been combined and are referred to as Manufacturing and Design Services ("MDS"). The Company's Medical customers (former Medical segment) and Military & Aerospace customers (former Complex Systems segment) have been combined as the economics of the underlying customer base, the nature of the products and services and the production process are significantly similar. As a result of this change in the reporting of segments, the CODM's assessment of the performance of medical customers separately from Military & Aerospace customers is no longer meaningful in assessing performance and allocating resources. In the MDS segment, the Company performs contract manufacturing and design services utilizing customer-owned intellectual property. The prior Defense and Security Systems reportable segment is now referred to as Engineered Components and Products ("ECP"). In the ECP segment, the Company performs manufacturing and design services using the Company's intellectual property. The Company has restated the prior periods to conform to the current year's presentation. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company's resources on a segment basis. Net sales are attributed to the segment in which the product is manufactured or service is performed. A segment's performance is evaluated based upon its operating income, contribution margin, gross margin and a variety of other factors. A segment's operating income includes its gross profit on sales less its selling and administrative expenses, including allocations of certain corporate operating expenses. Certain corporate operating expenses are allocated to segment results based on the nature of the service provided. Other corporate operating expenses, including certain administrative, financial and human resource activities as well as items such as interest expense, interest income, other income (expense) and income taxes are not allocated to operations and are excluded from segment profit. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally accounted for at amounts that approximate arm's length transactions. Identifiable assets by segments are those assets that are used in each segment's operations. The accounting policies for each of the segments are the same as for the Company taken as a whole. Manufacturing and Design Services segment operations are comprised of contract design, manufacturing and aftermarket repair and refurbishment of sophisticated printed circuit card assemblies, sub-assemblies, full product assemblies and cable/wire harnesses for customers seeking to bring their intellectual property to market. Customers include OEM and ET customers serving the Medical & Biotechnology, Military & Aerospace and Industrial & Commercial markets. In engineering and manufacturing for its customers, this segment adheres to very strict military and aerospace specifications, Food and Drug Administration (“FDA”) guidelines and approvals, in addition to product and process certifications. Sparton additionally is a leading developer of embedded software and software quality assurance services in connection with medical devices and diagnostic equipment. Engineered Components and Products segment operations are comprised of design, development and production of proprietary products for both domestic and foreign defense as well as commercial needs. Sparton designs and manufactures ASW devices known as sonobuoys for the U.S. Navy and foreign governments that meet Department of State licensing requirements. This segment also performs an engineering development function for the United States military and prime defense contractors for advanced technologies ultimately leading to future defense products as well as replacements for existing products. The sonobuoy product line is built to stringent military specifications. These products are restricted by International Tariff and Arms Regulations (“ITAR”) and qualified by the U.S. Navy, which limits opportunities for competition. Sparton is also a provider of ruggedized flat panel display systems for military panel PC workstations, air traffic control and industrial and commercial marine applications, as well as high performance industrial grade computer systems and peripherals. Ruggedized displays are manufactured for prime contractors, in some cases to specific military grade specifications. Additionally, this business unit internally develops and markets commercial products for underwater acoustics and microelectromechanical (“MEMS”)-based inertial measurement. Operating results and certain other financial information about the Company’s two reportable segments for the years ended June 30, 2015, 2014 and 2013 were as follows (in thousands): For the Year Ended June 30, 2015 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 263,940 $ 136,315 $ — $ (18,130 ) $ 382,125 Gross profit 36,461 38,210 — — 74,671 Operating income (loss) 9,535 25,033 (17,316 ) — 17,252 Selling and administrative expenses 18,615 10,895 17,366 — 46,876 Internal research and development expenses — 1,502 — — 1,502 Depreciation/amortization 8,875 1,648 713 — 11,236 Capital expenditures 1,599 1,294 2,909 — 5,802 For the Year Ended June 30, 2014 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 246,129 $ 109,134 $ — $ (18,762 ) $ 336,501 Gross profit 34,782 30,033 — — 64,815 Operating income (loss) 17,029 19,943 (16,721 ) — 20,251 Selling and administrative expenses 14,449 8,750 12,499 — 35,698 Internal research and development expenses — 1,169 — — 1,169 Restructuring charges 188 — — — 188 Depreciation/amortization 6,576 1,149 398 — 8,123 Capital expenditures 1,412 1,090 999 — 3,501 For the Year Ended June 30, 2013 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 207,898 $ 75,430 $ — $ (18,325 ) $ 265,003 Gross profit 28,051 17,760 — — 45,811 Operating income (loss) 15,531 11,525 (10,639 ) — 16,417 Selling and administrative expenses 10,890 4,935 10,626 — 26,451 Internal research and development expenses — 1,300 — — 1,300 Restructuring charges 55 — — — 55 Depreciation/amortization 3,903 626 232 — 4,761 Capital expenditures 2,566 996 310 — 3,872 As of June 30, 2015 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Total assets $ 238,777 $ 64,880 $ 33,894 $ — $ 337,551 As of June 30, 2014 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Total assets $ 144,991 $ 35,033 $ 18,956 $ — $ 198,980

Business, Geographic and Sales

Business, Geographic and Sales Concentration	12 Months Ended
	Jun. 30, 2015
Business Geographic and Sales Concentration [Abstract]
Business, Geographic and Sales Concentration	Business, Geographic and Sales Concentration Sales to individual customers in excess of 10% of total net sales for the years ended June 30, 2015, 2014 and 2013 were as follows: For the year ended June 30, 2015 2014 2013 U.S. Navy (a) 25 % 19 % 20 % Fenwal Blood Technologies (b) 10 % 14 % 20 % (a) Sales to the United States Navy, including those made through the Company’s ERAPSCO joint venture, are included in the results of the Company’s ECP segment. (b) Sales to Fenwal Blood Technologies are included in the results of the Company’s MDS segment. Net sales were made to customers located in the following countries (in thousands): For the year ended June 30, 2015 2014 2013 United States $ 345,643 $ 296,328 $ 235,231 Other foreign countries (a) 36,482 40,173 29,772 Consolidated total $ 382,125 $ 336,501 $ 265,003 (a) No other single country or currency zone accounted for 10% or more of export sales in the fiscal years ended June 30, 2015, 2014, or 2013. ASW devices and related engineering contract services to the U.S. government and foreign countries contributed approximately $110.2 million ( 29% ), $92.8 million ( 28% ) and $73.8 million ( 28% ), respectively, to total net sales for the fiscal years ended June 30, 2015, 2014 and 2013. The Company’s investment in property, plant and equipment, which are located in the United States and Vietnam, are summarized, net of accumulated depreciation, as follows (in thousands): As of June 30, 2015 As of June 30, 2014 United States $ 30,205 $ 26,092 Vietnam 2,403 2,431 Consolidated total $ 32,608 $ 28,523

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Jun. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations (Unaudited)	Quarterly Results of Operations (Unaudited) (In thousands, except per share amounts): Quarter 1st 2nd 3rd 4th Year ended June 30, 2015 Net sales $ 77,025 $ 85,642 $ 93,065 $ 126,393 Gross profit 12,814 15,171 18,631 28,055 Net income 196 1,562 4,133 5,098 Income per share - Basic 0.02 0.16 0.42 0.52 Income per share - Diluted 0.02 0.16 0.42 0.51 Year ended June 30, 2014 Net sales $ 74,301 $ 84,717 $ 83,983 $ 93,500 Gross profit 12,297 15,132 16,478 20,908 Net income 2,286 3,484 4,246 2,971 Income per share - Basic 0.23 0.34 0.42 0.29 Income per share - Diluted 0.23 0.34 0.42 0.29

Subsequent Event

Subsequent Event	12 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On September 24, 2013, L-3 Communications Corporation, doing business as L-3 Linkabit ("L-3"), filed a complaint in the United States District Court for the Middle District of Florida, Orlando Division, against Sparton Corporation and Sparton Electronics. On August 24 , 2015, Sparton and L-3 signed a mutual accord resolving the dispute. The agreement requires Sparton to pay L-3 $2.5 million on or before October 1, 2015 in consideration for dismissal of the litigation and is recorded in other accrued expenses on the Consolidated Balance Sheets. Neither party admitted to any mistakes, damage or fault.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2015
Valuation and Qualifying Accounts [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (In thousands) Years Ended June 30, Balance at Beginning of Period Additions Charged to Costs and Expenses Allowance for Losses Acquired Write-Offs/ Dispositions Balance at End of Period 2015 Allowance for losses on accounts receivable $ 126 $ 47 $ 97 $ (97 ) $ 173 2014 Allowance for losses on accounts receivable $ 61 $ 87 $ 57 $ (79 ) $ 126 2013 Allowance for losses on accounts receivable $ 146 $ 128 $ 54 $ (267 ) $ 61

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation — The consolidated financial statements include the accounts of Sparton Corporation and subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications of prior year amounts have been made to conform to the current year presentation. Subsequent events have been evaluated through the date these financial statements were issued.
Use of estimates	Use of estimates — Management of the Company has made a number of estimates, judgments and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities at the dates of the consolidated balance sheets and revenue and expense during the reporting periods to prepare these consolidated financial statements in conformity with GAAP. Actual results could differ from those estimates.
Cash and cash equivalents	Cash and cash equivalents — Cash and cash equivalents include cash on hand, demand deposits and money market funds with original maturities of three months or less. Cash equivalents are stated at cost which approximates fair value.
Accounts receivable credit practices and allowances for doubtful accounts	Accounts receivable, credit practices and allowances for doubtful accounts — Accounts receivable are customer obligations generally due under normal trade terms for the industry. Credit terms are granted and periodically revised based on evaluations of the customers’ financial condition. The Company performs ongoing credit evaluations of its customers and although the Company does not generally require collateral, letters of credit or cash advances may be required from customers in order to support accounts receivable in certain circumstances. The Company maintains an allowance for doubtful accounts on receivables for estimated losses resulting from the inability of its customers to make required payments. The allowance is estimated primarily based on information known about specific customers with respect to their ability to make payments, and future expectations of conditions that might impact the collectability of accounts. When management determines that it is probable that an account will not be collected, all or a portion of the amount is charged against the allowance for doubtful accounts.
Inventories and costs of contracts in progress	Inventories and costs of contracts in progress — Inventories are valued at the lower of cost (first-in, first-out basis) or market and include costs related to long-term contracts as disclosed below. Inventories, other than contract costs, are principally raw materials and supplies. Certain United States Government contracts allow Sparton to submit performance based billings, which are then applied against inventories purchased and manufacturing costs incurred by the Company throughout its performance under these contracts. Inventories were reduced by performance based payments from the U.S. government for costs incurred related to long-term contracts, thereby establishing inventory to which the U.S. government then has title, of approximately $7.5 million and $8.0 million , respectively, at June 30, 2015 and 2014. At June 30, 2015 and 2014, current liabilities include performance based payments of $1.8 million and $3.2 million , respectively, on government contracts. As these payments are in excess of cost, there is no inventory to which the government would claim title and, therefore, no offset to inventory has been made. Customer orders are based upon forecasted quantities of product manufactured for shipment over defined periods. Raw material inventories are purchased to fulfill these customer requirements. Within these arrangements, customer demands for products frequently change, sometimes creating excess and obsolete inventories. The Company regularly reviews raw material inventories by customer for both excess and obsolete quantities. Wherever possible, the Company attempts to recover its full cost of excess and obsolete inventories from customers or, in some cases, through other markets. When it is determined that the Company’s carrying cost of such excess and obsolete inventories cannot be recovered in full, a charge is taken against income for the difference between the carrying cost and the estimated realizable amount. These cost adjustments for excess and obsolete inventory create a new cost basis for the inventory.
Property, plant and equipment, net	Property, plant and equipment, net — Property, plant and equipment are stated at cost less accumulated depreciation. Major improvements and upgrades are capitalized while ordinary repair and maintenance costs are expensed as incurred. Depreciation is provided over estimated useful lives on both straight-line and accelerated methods.
Other assets	Other assets — Other non-current assets consist of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Deferred engineering and design costs - non-current $ 2,089 $ 1,700 Environmental remediation - indemnification asset 1,832 1,509 Favorable leasehold, net 374 492 Deferred financing fees, net 1,169 375 Investment in securities available for sale 847 — Other 840 351 Total other non-current assets $ 7,151 $ 4,427 Engineering and design costs on long-term contracts not otherwise immediately reimbursed are deferred and recognized ratably over related revenue streams. For the years ended June 30, 2015 and 2014, respectively, deferred engineering and design costs totaled approximately $3.2 million and $2.4 million of which approximately $1.1 million and $0.7 million were reflected in prepaid expenses and other current assets. See Note 10, Commitments and Contingencies, of the "Notes to Consolidated Financial Statements" in this Form 10-K for a discussion of the Company's environmental remediation - indemnification asset. The Company acquired a favorable leasehold in relation to its acquisition of Aydin Displays. The favorable leasehold is being amortized on a straight-line basis over the five year life of the lease and related amortization is reflected primarily within cost of goods sold on the consolidated statement of income.
Goodwill and intangible assets	Goodwill and intangible assets — The Company tests for possible goodwill impairment annually or more often should events or changes in circumstances indicate the carrying value of the goodwill may not be recoverable. The test is conducted at the reporting unit level. Sparton has two reportable business segments (MDS and ECP) for fiscal 2015. In fiscal years 2014 and 2013 the Company had three reportable business segments (Medical, Complex Systems and DSS). In fiscal year 2015, MDS and ECP each consist of a single reporting unit. In the previous years, Medical, Complex Systems and DSS each consisted of a single reporting unit. In fiscal 2015 and 2014, goodwill resided within each of the Company's reporting units and testing was done on each unit. For fiscal year 2013, all of the Company’s goodwill resided within the Medical reporting unit and goodwill impairment testing was conducted on this single reporting unit. The Company may elect to perform a qualitative assessment for its annual goodwill impairment test. If the qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or if Sparton elects to not perform a qualitative assessment, then the Company would be required to perform a quantitative impairment test for goodwill. A quantitative impairment analysis is a two-step process. First, the Company determines the fair value of the reporting unit and compares it to its carrying value. The fair value of reporting units is determined based on a weighting of both projected discounted future results and comparative market multiples. The projected discounted future results (discounted cash flow approach) is based on assumptions that are consistent with the Company’s estimates of future growth and the strategic plan used to manage the underlying business. Factors requiring significant judgment include assumptions related to future revenue growth rates, operating margins, terminal growth rates and discount factors, amongst other considerations. Second, if the carrying value of a reporting unit exceeds its estimated fair value, an impairment loss is recognized for any excess of the carrying value of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The residual fair value after this allocation is the implied fair value of the reporting unit goodwill. The Company’s fair value estimates related to its goodwill impairment analyses are based on Level 3 inputs within the fair value hierarchy as described below in this note under “Fair value measurements.” Determining the fair value of any reporting unit and intangible asset is judgmental in nature and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions believed to be reasonable, but which are unpredictable and inherently uncertain. Actual future results may differ from those estimates. Circumstances that may lead to future impairment of goodwill include, but are not limited to, unforeseen decreases in future performance or industry demand, as well as further loss of a significant customer or program in excess of future incremental new business wins. The next annual goodwill impairment review is expected to be performed during the fourth quarter of fiscal 2016.
Impairment of long-lived assets	Impairment of long-lived assets — The Company reviews other long-lived assets that are not held for sale for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment is determined by comparing the carrying value of the assets to their estimated future undiscounted cash flows. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell and are reviewed at least quarterly.
Stock-based compensation	Stock-based compensation — The Company measures the cost of employee and director services received in exchange for an award of equity-based securities using the fair value of the award on the date of the grant. The Company recognizes that cost on a straight-line basis over the period that the award recipient is required to provide service to the Company in exchange for the award and, for certain awards, subject to the probability that related performance targets will be met.
Earnings per share	Earnings per share — Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under our stock-based compensation plans and are determined using the treasury stock method. Unvested restricted stock awards, which contain non-forfeitable rights to dividends whether paid or unpaid, are included in the number of shares outstanding for both basic and diluted earnings per share calculations. Unvested contingently issuable participating restricted shares are excluded from basic earnings per share. In the event of a net loss, unvested restricted stock awards are excluded from the calculation of both basic and diluted loss per share.
Income taxes	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 amounts of 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 future 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 rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced through the establishment of a valuation allowance at the time, based upon available evidence, it becomes more likely than not that the deferred tax assets will not be realized. The Company recognizes 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. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Management also assesses whether uncertain tax positions, as filed, could result in the recognition of a liability for possible interest and penalties. The Company's policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense.
ERAPSCO Agreement	ERAPSCO Agreement — Sparton is partner to a 50 / 50 joint venture (“JV”) with UnderSea Sensor Systems, Inc. (“USSI”), the only other major producer of U.S. derivative sonobuoys. USSI’s parent company is Ultra Electronics Holdings PLC, based in the United Kingdom. The JV operates under the name ERAPSCO and allows Sparton and USSI to combine their own unique and complementary backgrounds to jointly develop and produce U.S. derivative sonobuoy designs for the U.S. Navy as well as foreign governments that meet Department of State licensing requirements. In concept, and in practice, ERAPSCO serves as a pass-through entity maintaining no funds or assets. While the JV provides the opportunity to maximize efficiencies in the design and development of the related sonobuoys, both venture companies function independently as subcontractors; therefore, there is no separate entity to be accounted for or consolidated. The Board of Directors of ERAPSCO has the responsibility for the overall management and operation of the JV. The six member board consists of equal representation (full time employees) from both JV partners for three year terms. Manpower for ERAPSCO, specifically a president, vice president, general manager, contract administrator and financial manager, are similarly assigned by the JV partners for rotating three year terms and the costs of these assigned individuals are borne by the party assigning the personnel. In response to a customer request for proposal (“RFP”) that ERAPSCO will bid on, the Board of Directors of ERAPSCO approves both the composition of a response to the RFP and the composite bid to be submitted to the customer. The Board of Directors strives to divide the aggregate contract awards at a 50 / 50 share ratio. Each JV partner bears the costs it incurs associated with the preparation and submission of proposals. Each JV partner submits to ERAPSCO a proposal for the estimated price of performing that portion of the RFP applicable to it. Upon award of a contract to the JV, separate subcontracts are generated between ERAPSCO and each of the JV partners defining the responsibilities and compensation for each JV partner. These subcontracts contain terms and conditions consistent with the prime contract. Each JV partner is responsible to ERAPSCO for the successful execution of its respective scope of work under its subcontract and each JV partner is individually accountable for the profit or losses sustained in the execution of the subcontract against its respective bid. In some instances, either Sparton or USSI handles the complete production and delivery of sonobuoys to ERAPSCO's customer. In other instances, either Sparton or USSI starts the production and ship completed subassemblies to the other party for additional processing before being delivered to the customers. Under ERAPSCO, individual contract risk exposures are reduced, while the likelihood of achieving U.S. Navy and other ASW objectives is enhanced. ERAPSCO has been in existence for approximately twenty-six years and historically, the agreed upon products included under the JV were generally developmental or sonobuoys with low volume demand. Seven years ago, the JV expanded to include all future sonobuoy development and substantially all U.S. derivative sonobuoy products for customers outside of the United States. The JV was further expanded three years later to include all sonobuoy products for the U.S. Navy beginning with U.S. Navy's 2010 fiscal year contracts.
Revenue recognition	Revenue recognition — The Company’s net sales are comprised primarily of product sales, with supplementary revenues earned from engineering and design services. Standard contract terms are FOB shipping point. Revenue from product sales is generally recognized upon shipment of the goods; service revenue is recognized as the service is performed or under the percentage of completion method, depending on the nature of the arrangement. Long-term contracts related to ECP sonobuoy sales to the U.S. Navy and foreign government customers that require lot acceptance testing recognize revenue under the units-of-production percentage of completion method. The Company additionally has certain other long-term contracts that are accounted for under the units shipped percentage-of-completion method. Certain upfront engineering costs in relation to certain of these long-term contracts are capitalized and recognized over the life of the contract.
Advertising Costs	Advertising Costs — The Company expenses advertising costs as they are incurred.
Research and development expenditures	Research and development expenditures — Internal research and development expenses reflect costs incurred for the internal development of technologies for use in navigation, oil and gas exploration and flat panel display technology. These costs include salaries and related expenses, contract labor and consulting costs, materials and the cost of certain research and development specific equipment.
Fair value measurements	Fair value measurements — Fair value estimates and assumptions and methods used to estimate the fair value of the Company’s assets and liabilities are made in accordance with the requirements of the Financial Accounting Standards Board (the “FASB”), Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”). ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 are observable inputs such as quoted prices in active markets; Level 2 are inputs other than the quoted prices in active markets that are observable either directly or indirectly; and Level 3 are unobservable inputs in which there is little or no market data, which require the Company to develop its own assumptions. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.
Market risk exposure	Market risk exposure — The Company manufactures its products in the United States and Vietnam. Sales of the Company’s products are in the U.S. and foreign markets. The Company is subject to foreign currency exchange rate risk relating to intercompany activity and balances and to receipts from customers and payments to suppliers in foreign currencies. Adjustments related to the remeasurement of the Company's Vietnamese financial statements into U.S. dollars are included in current earnings. As a result, the Company's financial results could be affected by factors such as changes in foreign currency exchange rates or economic conditions in the domestic and foreign markets in which the Company operates. However, minimal third party receivables and payables are denominated in foreign currency and the related market risk exposure is considered to be immaterial.
New accounting standards	New accounting standards — In July 2013, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance under Accounting Standards Update No. 2013-11 ("ASU 2013-11"), which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This accounting standard update requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. ASU 2013-11 was effective for the Company’s first quarter of fiscal 2015. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 ("ASU 2014-09"), which amends guidance for revenue recognition. Under the new standard, revenue will be recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. The standard creates a five-step model that will generally require companies to use more judgment and make more estimates than under current guidance when considering the terms of contracts along with all relevant facts and circumstances. These include the identification of customer contracts and separating performance obligations, the determination of transaction price that potentially includes an estimate of variable consideration, allocating the transaction price to each separate performance obligation, and recognizing revenue in line with the pattern of transfer. The standard also requires extensive additional disclosures to provide greater insight into revenues recognized and deferred, including quantitative and qualitative information about significant judgments and changes in those judgments made to determine the timing and amount of revenues recognized. ASU 2014-09, as amended by ASU 2015-14, is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Companies have the option of using either a full or modified retrospective approach in applying this standard. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 changes the presentation of debt issuance costs for term debt in the balance sheet by requiring the debt issuance costs to be presented as a direct deduction from the related debt liability, rather than recorded as an asset. The standard is required to be adopted by public business entities in annual periods beginning on or after December 15, 2015, and interim periods within those annual periods and will need to be applied retrospectively. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory. ASU No. 2015-11 clarifies that inventory should be held at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price, less the estimated costs to complete, dispose and transport such inventory. ASU No. 2015-11 will be effective for fiscal years and interim periods beginning after December 15, 2016. ASU No. 2015-11 is required to be applied prospectively and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements.

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Other noncurrent assets	Other non-current assets consist of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Deferred engineering and design costs - non-current $ 2,089 $ 1,700 Environmental remediation - indemnification asset 1,832 1,509 Favorable leasehold, net 374 492 Deferred financing fees, net 1,169 375 Investment in securities available for sale 847 — Other 840 351 Total other non-current assets $ 7,151 $ 4,427
Reconciliation for liabilities measured at fair value, recurring	The table below presents a reconciliation for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for year ended June 30, 2015 (in thousands). June 30, Purchase or additions June 30, Liabilities: Contingent consideration $ — $ 1,530 $ 1,530

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jun. 30, 2015
Business Acquisition [Line Items]
Allocation of the total consideration to assets acquired and liabilities assumed	The following table represents the allocation of the total consideration to assets acquired and liabilities assumed in the 2013 acquisitions based on Sparton’s estimate of their respective fair values at the acquisition date (in thousands): Creonix, LLC Onyx EMS, LLC Total purchase consideration: Cash $ 2,100 $ 43,250 Working capital adjustment (105 ) 2,188 Total purchase consideration $ 1,995 $ 45,438 Assets acquired and liabilities assumed: Accounts receivables $ — $ 7,529 Inventories 1,321 8,986 Other current assets — 403 Property, plant and equipment 304 13,656 Customer relationships 270 10,200 Non-compete agreements — 200 Goodwill 100 7,195 Accounts payable — (1,654 ) Other current liabilities — (1,077 ) Total assets acquired and liabilities assumed $ 1,995 $ 45,438 The following table represents the allocation of the total consideration to assets acquired and liabilities assumed in the 2014 acquisitions based on Sparton’s estimate of their respective fair values at the acquisition date (in thousands): Aubrey Group, Inc. Beckwood Services, Inc. Aydin Displays, Inc. Total purchase consideration: Cash $ 5,300 $ 15,300 $ 15,000 Cash consideration paid for excess cash 573 — — Working capital adjustment (252 ) 46 502 Total purchase consideration $ 5,621 $ 15,346 $ 15,502 Assets acquired and liabilities assumed: Cash $ 1,056 $ — $ — Accounts receivable 680 1,157 2,279 Inventories 184 2,075 6,601 Deferred income taxes 4 108 — Other current assets 22 122 895 Property, plant and equipment 221 83 582 Customer relationships — 10,000 1,500 Non-compete agreements 140 280 — Trade names and trademarks — — 180 Unpatented technology — — 650 Goodwill 4,510 6,731 2,181 Deferred income taxes - non-current 290 (3,761 ) — Other long-term assets — 8 2,292 Accounts payable (173 ) (866 ) (1,215 ) Other current liabilities (1,313 ) (591 ) (443 ) Total assets acquired and liabilities assumed $ 5,621 $ 15,346 $ 15,502
The combined results of operations of the Company and the acquired contract manufacturing businesses	The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the acquisitions occurred as of July 1, 2013 and 2012, respectively, or of future consolidated operating results (in thousands, except per share amounts): For the Year Ended June 30, 2015 June 30, 2014 Net sales $ 461,734 $ 465,229 Income before income taxes $ 19,345 $ 33,654 Net income $ 15,219 $ 27,296 Net income per share — basic $ 1.54 $ 2.70 Net income per share — diluted $ 1.54 $ 2.69
Hunter Technology
Business Acquisition [Line Items]
Allocation of the total consideration to assets acquired and liabilities assumed	The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of Hunter based on Sparton’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 55,194 Common Stock 673 Section 338 gross payable 1,000 Accrued contingent consideration 1,180 Total purchase consideration $ 58,047 Assets acquired and liabilities assumed: Cash $ 678 Accounts receivable 10,396 Inventory 20,438 Other current assets 470 Property, plant and equipment 2,221 Customer relationships 14,700 Non-compete agreements 420 Goodwill 26,494 Other long term assets 396 Accounts payable (15,756 ) Other current liabilities (2,236 ) Other long term liabilities (174 ) Total assets acquired and liabilities assumed $ 58,047
Electronic Manufacturing Technology LLC
Business Acquisition [Line Items]
Allocation of the total consideration to assets acquired and liabilities assumed	The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of eMT based on Sparton’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 20,000 Post closing working capital adjustment 1,600 Post closing income tax adjustment 469 Total purchase consideration $ 22,069 Assets acquired and liabilities assumed: Cash $ 1,505 Accounts receivable 4,444 Inventory 4,090 Other current assets 26 Property, plant and equipment 584 Customer relationships 5,950 Non-compete agreements 2,730 Trade names 80 Goodwill 6,959 Other long term assets 30 Accounts payable (3,636 ) Other current liabilities (693 ) Total assets acquired and liabilities assumed $ 22,069

Inventories and Cost of Contr31

Inventories and Cost of Contracts in Progress, net (Tables)	12 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Classifications of inventory, net of interim billings	The following are the major classifications of inventory, net of interim billings, at June 30, 2015 and 2014 (in thousands): June 30, June 30, Raw materials $ 60,668 $ 40,535 Work in process 19,047 10,609 Finished goods 7,244 10,188 Total inventory and cost of contracts in progress, gross 86,959 61,332 Inventory to which the U.S. government has title due to interim billings (7,456 ) (7,960 ) Total inventory and cost of contracts in progress, net $ 79,503 $ 53,372

Property, Plant and Equipment32

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, plant and equipment, net	Property, plant and equipment, net consists of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Land and land improvements $ 1,429 $ 1,429 Buildings and building improvements 27,482 25,779 Machinery and equipment 36,923 29,480 Construction in progress 2,278 1,893 Total property, plant and equipment 68,112 58,581 Less accumulated depreciation (35,504 ) (30,058 ) Property, plant and equipment, net $ 32,608 $ 28,523

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value and ending composition of goodwill	Changes in the carrying value of goodwill for the years ended June 30, 2015 and 2014, and the ending composition of goodwill as of June 30, 2015 and June 30, 2014, are as follows (in thousands): June 30, 2015 Manufacturing & Design Services Engineered Components & Products Total Goodwill, beginning of period $ 26,008 $ 2,181 $ 28,189 Additions to goodwill during the period 35,504 10,482 45,986 Goodwill, end of period $ 61,512 $ 12,663 $ 74,175 June 30, 2014 Manufacturing & Design Services Engineered Components & Products Total Goodwill, beginning of period $ 14,767 $ — $ 14,767 Additions to goodwill during the period 11,241 2,181 13,422 Goodwill, end of period $ 26,008 $ 2,181 $ 28,189 June 30, 2015 Manufacturing & Design Services Engineered Components & Products Total Acquired goodwill $ 74,665 $ 12,663 $ 87,328 Accumulated impairment (13,153 ) — (13,153 ) Goodwill $ 61,512 $ 12,663 $ 74,175 June 30, 2014 Manufacturing & Design Services Engineered Components & Products Total Acquired goodwill $ 39,161 $ 2,181 $ 41,342 Accumulated impairment (13,153 ) — (13,153 ) Goodwill $ 26,008 $ 2,181 $ 28,189
Aggregate amortization expense relative to existing intangible assets	The amortization periods, gross carrying amounts, accumulated amortization, accumulated impairments and net carrying values of intangible assets at June 30, 2015 and June 30, 2014 are as follows (dollars in thousands): Original Amortization Period in Months Gross Carrying Amount Accumulated Amortization Accumulated Impairments Net Carrying Value June 30, 2015 Amortized intangible assets: Non-compete agreements 24 - 60 $ 4,229 $ (1,100 ) $ — $ 3,129 Customer relationships 84 - 180 56,595 (12,806 ) (3,663 ) 40,126 Trademarks/Trade names 12 - 120 1,696 (145 ) — 1,551 Unpatented technology 84 1,341 (322 ) — 1,019 $ 63,861 $ (14,373 ) $ (3,663 ) $ 45,825 June 30, 2014 Amortized intangible assets: Non-compete agreements 24 - 60 $ 420 $ (46 ) $ — $ 374 Customer relationships 120 - 180 29,870 (7,220 ) (3,663 ) 18,987 Trademarks/trade names 120 180 (15 ) — 165 Unpatented technology 84 650 (135 ) — 515 $ 31,120 $ (7,416 ) $ (3,663 ) $ 20,041
Summary of Intangible Assets, net	Aggregate amortization expense relative to existing intangible assets for the periods shown is currently estimated to be as follows (in thousands): Fiscal Year Ending June 30, 2016 $ 9,445 2017 8,384 2018 7,234 2019 6,215 2020 and thereafter 14,547 Total $ 45,825

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of Long-term debt, net	Debt consists of the following at June 30, 2015 and 2014 (in thousands): June 30, June 30, Borrowings under Credit Facility 154,500 41,000 Less: current portion — (900 ) Long-term debt, net of current portion $ 154,500 $ 40,100

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income (loss) before income taxes by country	Income (loss) before income taxes by country consists of the following amounts (in thousands): For the year ended June 30, 2015 2014 2013 United States $ 14,533 $ 18,915 $ 15,239 Vietnam 38 691 936 Canada 384 (4 ) (3 ) $ 14,955 $ 19,602 $ 16,172
Components of provision for income taxes	ncome taxes consists of the following components (in thousands): For the year ended June 30, 2015 2014 2013 Current: United States $ 4,317 $ 6,913 $ 2,346 Vietnam 6 134 85 Canada 15 — — State and local 501 544 430 4,839 7,591 2,861 Deferred: United States 465 (852 ) (14 ) Vietnam — 7 — Canada (1,055 ) — — State and local (283 ) (131 ) (145 ) (873 ) (976 ) (159 ) $ 3,966 $ 6,615 $ 2,702
Effective income tax rate reconciliation to statutory income tax rate	The consolidated effective income tax rate differs from the statutory U.S. federal tax rate for the following reasons and by the following percentages: For the year ended June 30, 2015 2014 2013 Statutory U.S. federal income tax rate 35.0 % 35.0 % 34.0 % Significant increases (reductions) resulting from: Changes in valuation allowance (7.5 ) — — Domestic production activities deduction (2.7 ) (2.7 ) (2.1 ) Foreign tax rate differences (0.2 ) (0.7 ) (1.4 ) State and local income taxes, net of federal benefit 2.7 2.3 1.8 Canadian worthless stock and bad debt deduction — — (12.5 ) Other (0.8 ) (0.2 ) (3.1 ) Effective income tax rate 26.5 % 33.7 % 16.7 %
Components of deferred tax assets and liabilities	Significant components of deferred income tax assets and liabilities at June 30, 2015 and 2014, are as follows (in thousands): June 30, June 30, Deferred tax assets: Goodwill $ (5 ) $ 906 Environmental remediation 2,254 2,458 Inventories 3,298 2,694 Employment and compensation accruals 1,341 1,090 Capital loss carryover 263 263 State tax carryovers 373 236 Canadian tax benefits — 2,063 Canadian tax carryovers 1,164 — Pension asset 148 — Other 2,463 1,303 Deferred tax assets 11,299 11,013 Less valuation allowance (393 ) (2,456 ) Deferred tax assets, net 10,906 8,557 Deferred tax liabilities: Property, plant and equipment (1,430 ) (1,296 ) Intangible assets (237 ) (1,397 ) Pension asset — (16 ) Other (2,326 ) (843 ) Deferred tax liabilities (3,993 ) (3,552 ) Net deferred tax assets $ 6,913 $ 5,005
Net deferred income tax assets by balance sheets location	Net deferred income tax assets are included in the balance sheets at June 30, 2015 and 2014, as follows (in thousands): June 30, June 30, Current deferred income tax assets, net $ 4,714 $ 3,813 Long term deferred income tax assets, net 2,199 1,192 $ 6,913 $ 5,005

Employee Retirement Benefit P36

Employee Retirement Benefit Plans (Tables)	12 Months Ended
	Jun. 30, 2015
Defined Benefit and Defined Contribution Pension Plans Disclosure [Abstract]
Components of net periodic pension expense	The components of net periodic pension expense for the years ended June 30, 2015, 2014 and 2013 were as follows (in thousands): For the year ended June 30, 2015 2014 2013 Interest cost 326 355 343 Expected return on plan assets (560 ) (524 ) (514 ) Amortization of unrecognized net actuarial loss 81 128 183 Net periodic benefit (income) cost (153 ) (41 ) 12 Pro rata recognition of lump-sum settlements — 85 — Total periodic pension (income) expense $ (153 ) $ 44 $ 12
Weighted average assumptions used to determine benefit obligations and net periodic benefit cost	The weighted average assumptions used to determine benefit obligations and net periodic benefit cost for fiscal 2015, 2014 and 2013 were as follows: Benefit Obligation Benefit Cost 2015 2014 2013 2015 2014 2013 Discount rate (1) 4.45 % 4.35 % 4.75 % 4.35 % 4.75 % 4.25 % Rate of compensation increase (2) — — — — — — Expected long-term rate on plan assets (3) 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % 7.50 % (1) The Company determines its assumption for the discount rate on an index of high-quality corporate bond yields and matching-funding yield curve analysis. (2) The rate of compensation increase for calculation of the benefit obligation is 0.0% due to the freezing of the plan as of April 1, 2009. (3) The expected long-term rate of return for plan assets is based on similar indices such as Citigroup Pension Liability Index and Composite Corporate Bond Rates as of the measurement date.
Summary of changes in benefit obligations, plan assets and funded status of the plan	The following tables summarize the changes in benefit obligations, plan assets and funded status of the plan at June 30, 2015 and 2014 (in thousands): June 30, June 30, Change in prepaid benefit cost: Prepaid benefit cost at beginning of fiscal year $ 1,643 $ 1,543 Net periodic benefit income (cost) for fiscal year 68 41 Employer contributions to plan — 59 Prepaid benefit cost at end of fiscal year $ 1,711 $ 1,643 Change in projected benefit obligation: Projected benefit obligation at beginning of fiscal year $ 8,107 $ 8,166 Interest cost 326 355 Actuarial experience and changes in assumptions 549 389 Benefits paid (632 ) (803 ) Projected benefit obligation at end of fiscal year $ 8,350 $ 8,107 Change in plan assets: Fair value of plan assets at beginning of fiscal year $ 8,151 $ 7,748 Employer contributions — 59 Actual return on plan assets 407 1,147 Benefits paid (632 ) (803 ) Fair value of plan assets at end of fiscal year $ 7,926 $ 8,151 Amounts recognized in the Consolidated Balance Sheets: Pension asset $ — $ 44 Pension liability — non-current portion (424 ) — Funded status — total balance sheet asset (liability) $ (424 ) $ 44
Pension related amounts recognized in other comprehensive income (loss), excluding tax effects	Pension related amounts recognized in other comprehensive income (loss), excluding tax effects, for the years ended June 30, 2015, 2014 and 2013 are as follows (in thousands): For the year ended June 30, 2015 2014 2013 Amortization of unrecognized net actuarial loss $ 81 $ 128 $ 183 Pro rata recognition of lump-sum settlements — 85 — Net actuarial (loss) gain (702 ) 234 541 Total recognized in other comprehensive income (loss) $ (621 ) $ 447 $ 724
Unrecognized amounts in accumulated other comprehensive loss	The amounts in accumulated other comprehensive loss on the consolidated balance sheets, excluding tax effects, that have not yet been recognized as components of net periodic benefit cost at June 30, 2015 and 2014 are as follows (in thousands): June 30, June 30, Accumulated other comprehensive loss: Net actuarial loss $ 2,134 $ 1,513 Total $ 2,134 $ 1,513
Expected benefit payments for the defined benefit pension plan	Expected benefit payments for the defined benefit pension plan for the next ten fiscal years are as follows (in thousands): Fiscal Year Ended June 30, 2016 $ 990 2017 712 2018 668 2019 565 2020 569 2021 – 2025 2,517 Total $ 6,021
Summary of pension plan asset allocations	Below is a summary of pension plan asset allocations as of June 30, 2015 and 2014, by asset category: Weighted Average Allocation For the Year Ended June 30, Target 2015 2014 Equity securities 40%-70% 60 % 61 % Fixed income (debt) securities 30%-60% 37 % 37 % Cash and cash equivalents 0%-10% 3 % 2 % 100 % 100 %
Estimated fair value of plan assets by asset class	The total estimated fair value of plan assets by asset class at June 30, 2015 and 2014 were as follows (in thousands): June 30, June 30, Asset Class: Equity securities: Directly held corporate stock — Large Cap $ 2,394 $ 2,152 Registered investment companies — Large Cap 1,079 1,336 Registered investment companies — Mid-Cap Growth 287 343 Registered investment companies — Small-Cap 359 318 Registered investment companies — International 646 873 Fixed income (debt) securities: Registered investment companies — Intermediate Bond 2,896 2,990 Cash and cash equivalents 265 139 Total assets measured at fair value $ 7,926 $ 8,151

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Future minimum annual lease payments	At June 30, 2015, the future minimum annual lease payments under these agreements are as follows (in thousands): For the fiscal years ended: 2016 $ 2,547 2017 2,737 2018 2,080 2019 1,431 2020 1,338 Thereafter 2,381 Total $ 12,514

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense by type of share-based award	The following table shows stock-based compensation expense by type of share-based award for the years ended June 30, 2015, 2014 and 2013 included in the consolidated statements of income (in thousands): For the year ended June 30, 2015 2014 2013 Fair value expense of stock option awards $ 352 $ — $ — Restricted stock units 518 — — Restricted and unrestricted stock 1,015 1,662 1,128 Total stock-based compensation $ 1,885 $ 1,662 $ 1,128 The table below outlines the weighted average assumptions used for the options granted during the year ended June 30, 2015: Weighted Average Risk free interest rate 2.06 % Volatility 34.10 % Dividend yield — Expected life in years 6.25 Fair value price $9.99
Unrecognized compensation cost related to restricted stock grants and the fair value expense of stock option awards	The following table shows the total remaining unrecognized compensation cost related to restricted stock grants, restricted stock units grants and the fair value expense of stock option awards, as well as the weighted average remaining required service period over which such costs will be recognized as of June 30, 2015: Total Remaining Unrecognized Compensation Cost (in thousands) Weighted Average Remaining Required Service Period (in years) Fair value expense of stock option awards $ 633 1.80 Restricted stock units 1,026 1.83 Restricted stock 471 1.47 $ 2,130 1.74
Summary of activities related to company's stock options granted	The following is a summary of activity for the year-ended June 30, 2015 related to the Company’s stock options granted under its long-term incentive plans: Number of Options Weighted- Average Exercise Price Options outstanding as of June 30, 2014 38,543 $ 8.57 Granted 123,684 26.58 Exercised (19,247 ) 8.57 Forfeited (35,396 ) 16.89 Expired — — Options outstanding as of June 30, 2015 107,584 $ 26.54
Summary of options outstanding and exercisable	The following is a summary of options outstanding at June 30, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractural Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) Number Exercisable Weighted Average Remaining Contractural Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) $23.85-$26.86 107,584 9.33 26.54 — — — — —
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted under long-term incentive plans	The following is a summary of activity for the year-ended June 30, 2015 related to restricted stock units granted under the Company’s long-term incentive plans: Shares Weighted Average Fair Value Restricted stock units at June 30, 2014 — $ — Granted 75,045 26.70 Forfeited (12,217 ) 26.35 Restricted stock units at June 30, 2015 62,828 $ 26.77
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted under long-term incentive plans	The following is a summary of activity for the year-ended June 30, 2015 related to restricted stock granted under the Company’s long-term incentive plans: Shares Weighted Average Fair Value Restricted stock at June 30, 2014 316,997 $ 12.38 Granted 26,793 25.86 Vested (172,459 ) 11.16 Forfeited (39,032 ) 19.56 Restricted stock at June 30, 2015 132,299 $ 14.58

Earnings Per Share Data (Tables

Earnings Per Share Data (Tables)	12 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per share	Earnings per share calculations, including weighted average number of shares of common stock outstanding used in calculating basic and diluted income per share, for the years ended June 30, 2015, 2014 and 2013 are as follows (in thousands, except share data): For the For the Years Ended June 30, 2015 June 30, 2014 June 30, 2013 Net income $ 10,989 $ 12,987 $ 13,470 Less net income allocated to contingently issuable participating securities (126 ) — — Net income available to common shareholders $ 10,863 $ 12,987 $ 13,470 Weighted average shares outstanding – Basic 9,874,441 10,109,915 10,193,530 Dilutive effect of stock options 11,520 31,480 35,157 Weighted average shares outstanding – Diluted 9,885,961 10,141,395 10,228,687 Net income available to common shareholders per share: Basic $ 1.10 $ 1.28 $ 1.32 Diluted $ 1.10 $ 1.28 $ 1.32

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Operating results and other financial information by segment	Operating results and certain other financial information about the Company’s two reportable segments for the years ended June 30, 2015, 2014 and 2013 were as follows (in thousands): For the Year Ended June 30, 2015 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 263,940 $ 136,315 $ — $ (18,130 ) $ 382,125 Gross profit 36,461 38,210 — — 74,671 Operating income (loss) 9,535 25,033 (17,316 ) — 17,252 Selling and administrative expenses 18,615 10,895 17,366 — 46,876 Internal research and development expenses — 1,502 — — 1,502 Depreciation/amortization 8,875 1,648 713 — 11,236 Capital expenditures 1,599 1,294 2,909 — 5,802 For the Year Ended June 30, 2014 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 246,129 $ 109,134 $ — $ (18,762 ) $ 336,501 Gross profit 34,782 30,033 — — 64,815 Operating income (loss) 17,029 19,943 (16,721 ) — 20,251 Selling and administrative expenses 14,449 8,750 12,499 — 35,698 Internal research and development expenses — 1,169 — — 1,169 Restructuring charges 188 — — — 188 Depreciation/amortization 6,576 1,149 398 — 8,123 Capital expenditures 1,412 1,090 999 — 3,501 For the Year Ended June 30, 2013 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Sales $ 207,898 $ 75,430 $ — $ (18,325 ) $ 265,003 Gross profit 28,051 17,760 — — 45,811 Operating income (loss) 15,531 11,525 (10,639 ) — 16,417 Selling and administrative expenses 10,890 4,935 10,626 — 26,451 Internal research and development expenses — 1,300 — — 1,300 Restructuring charges 55 — — — 55 Depreciation/amortization 3,903 626 232 — 4,761 Capital expenditures 2,566 996 310 — 3,872 As of June 30, 2015 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Total assets $ 238,777 $ 64,880 $ 33,894 $ — $ 337,551 As of June 30, 2014 Manufacturing & Design Services Engineered Components & Products Corporate and Other Unallocated Eliminations Total Total assets $ 144,991 $ 35,033 $ 18,956 $ — $ 198,980

Business, Geographic and Sale41

Business, Geographic and Sales Concentration (Tables)	12 Months Ended
	Jun. 30, 2015
Business Geographic and Sales Concentration [Abstract]
Sales to individual customers in excess of 10% of total net sales	Sales to individual customers in excess of 10% of total net sales for the years ended June 30, 2015, 2014 and 2013 were as follows: For the year ended June 30, 2015 2014 2013 U.S. Navy (a) 25 % 19 % 20 % Fenwal Blood Technologies (b) 10 % 14 % 20 % (a) Sales to the United States Navy, including those made through the Company’s ERAPSCO joint venture, are included in the results of the Company’s ECP segment. (b) Sales to Fenwal Blood Technologies are included in the results of the Company’s MDS segment.
Net sales made to customers by country	Net sales were made to customers located in the following countries (in thousands): For the year ended June 30, 2015 2014 2013 United States $ 345,643 $ 296,328 $ 235,231 Other foreign countries (a) 36,482 40,173 29,772 Consolidated total $ 382,125 $ 336,501 $ 265,003 (a) No other single country or currency zone accounted for 10% or more of export sales in the fiscal years ended June 30, 2015, 2014, or 2013.
Capital expenditures net of accumulated depreciation by country	The Company’s investment in property, plant and equipment, which are located in the United States and Vietnam, are summarized, net of accumulated depreciation, as follows (in thousands): As of June 30, 2015 As of June 30, 2014 United States $ 30,205 $ 26,092 Vietnam 2,403 2,431 Consolidated total $ 32,608 $ 28,523

Quarterly Results of Operatio42

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations	Quarterly Results of Operations (Unaudited) (In thousands, except per share amounts): Quarter 1st 2nd 3rd 4th Year ended June 30, 2015 Net sales $ 77,025 $ 85,642 $ 93,065 $ 126,393 Gross profit 12,814 15,171 18,631 28,055 Net income 196 1,562 4,133 5,098 Income per share - Basic 0.02 0.16 0.42 0.52 Income per share - Diluted 0.02 0.16 0.42 0.51 Year ended June 30, 2014 Net sales $ 74,301 $ 84,717 $ 83,983 $ 93,500 Gross profit 12,297 15,132 16,478 20,908 Net income 2,286 3,484 4,246 2,971 Income per share - Basic 0.23 0.34 0.42 0.29 Income per share - Diluted 0.23 0.34 0.42 0.29

Business (Details)

Business (Details) - segment	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business [Abstract]
Number of reportable business segments	3	2	3	3

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Other noncurrent assets
Deferred engineering and design costs - non-current	$ 2,089	$ 1,700
Environmental remediation - indemnification asset	1,832	1,509
Favorable leasehold, net	45,825	20,041
Deferred financing fees, net	1,169	375
Investment in securities available for sale	847	0
Other	840	351
Total other non-current assets	7,151	4,427
Favorable leasehold, net
Other noncurrent assets
Favorable leasehold, net	$ 374	$ 492

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Details Textual) $ in Thousands	Jun. 30, 2014USD ($)segment	Jun. 30, 2015USD ($)segmentmember	Jun. 30, 2014USD ($)segment	Jun. 30, 2013USD ($)segment
Summary of Significant Accounting Policies (Textual) [Abstract]
Advanced billings reduced from inventory	$ 8,000	$ 7,500	$ 8,000
Advance billings on government contracts, current	3,200	1,800	3,200
Inventory write-down		900	500	$ 600
Deferred engineering and design costs	$ 2,400	$ 3,200	2,400
Deferred costs amortized to interest expense over the period		5 years
Amortized debt financing fees recognized and reported as interest expense		$ 600	$ 100	$ 100
Number of reportable business segments | segment	3	2	3	3
Number of employees of JV owners as Board Members of ERAPSCO | member		6
Rotating Terms of employees of ERAPSCO		3 years
Joint venture existence		26 years
Number of years ago that JV expanded		7 years
Number of years since original expansion of JV		3 years
Advertising expense		$ 200	$ 200	$ 500
Internal research and development expenses		1,502	1,169	1,300
Customer funded research and development costs		9,900	9,700	$ 10,400
Line of credit facility amount outstanding		154,500
Marketable equity securities	$ 0	847	$ 0
Increase in interest expense		$ 1,500
Favorable leasehold, net
Summary of Significant Accounting Policies (Textual) [Abstract]
Useful life of intangible asset		5 years
Customer relationships | Minimum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		7 years	120 months
Customer relationships | Maximum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		15 years	180 months
Non-compete agreements | Minimum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		2 years	24 months
Non-compete agreements | Maximum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		5 years	60 months
Trademarks/Trade names | Minimum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		1 year
Trademarks/Trade names | Maximum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		10 years	120 months
Unpatented technology
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		7 years
Unpatented technology | Maximum
Summary of Significant Accounting Policies (Textual) [Abstract]
Amortization period (in years)		84 months	84 months
Buildings and improvements | Minimum
Summary of Significant Accounting Policies (Textual) [Abstract]
Useful life		12 years
Buildings and improvements | Maximum
Summary of Significant Accounting Policies (Textual) [Abstract]
Useful life		39 years
Machinery and equipment
Summary of Significant Accounting Policies (Textual) [Abstract]
Useful life		12 years
Test equipment
Summary of Significant Accounting Policies (Textual) [Abstract]
Useful life		5 years
Revolving Credit Facility
Related Party Transaction [Line Items]
Long-term Debt, Increase in Interest Rate		1.00%
Summary of Significant Accounting Policies (Textual) [Abstract]
Deferred costs incurred in connection with revolving line-of-credit		$ 1,400
Line of credit facility amount outstanding	$ 41,000	154,500	$ 41,000
Manufacturing & Design Services
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of fair value in excess of carrying value	70.00%		70.00%
Manufacturing & Design Services | Customer relationships
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		34,000
Manufacturing & Design Services | Non-compete agreements
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		2,900
Manufacturing & Design Services | Trademarks/Trade names
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		100
CS
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of fair value in excess of carrying value	33.00%		33.00%
Engineered Components & Products
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of fair value in excess of carrying value	1100.00%		1100.00%
Engineered Components & Products | Customer relationships
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		6,100
Engineered Components & Products | Non-compete agreements
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		300
Engineered Components & Products | Trademarks/Trade names
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		1,500
Engineered Components & Products | Unpatented technology
Summary of Significant Accounting Policies (Textual) [Abstract]
Intangible asset		1,000
Prepaid expenses and other current assets
Summary of Significant Accounting Policies (Textual) [Abstract]
Deferred engineering and design costs	$ 700	1,100	$ 700
Other non-current assets
Summary of Significant Accounting Policies (Textual) [Abstract]
Marketable equity securities		$ 800

Summary of Significant Accoun46

Summary of Significant Accounting Policies (Details 1) - Level 3 - Recurring basis - Contingent Consideration $ in Thousands	12 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 0
Purchase or additions	1,530
Ending Balance	$ 1,530

Acquisitions Hunter Technology

Acquisitions Hunter Technology Corporation - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 14, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
Hunter Technology
Business Acquisition [Line Items]
Annual revenue for the business	$ 80,500
All cash transaction	55,000	55,194
Escrow holdback	2,800
Contingent consideration range of outcomes, high	13,000
Contingent consideration	1,200
Common Stock		673
Section 338 gross payable	1,000	1,000
Accrued contingent consideration		1,180
Total purchase consideration		58,047
Cash		678
Accounts receivable		10,396
Inventories		20,438
Other current assets		470
Property, plant and equipment		2,221
Goodwill	$ 26,494	26,494
Other long term assets		396
Accounts payable		(15,756)
Other current liabilities		(2,236)
Other long term liabilities		(174)
Total assets acquired and liabilities assumed		58,047
Net sales		14,300
Income (loss) before income taxes		(700)
Acquisition related selling and administrative costs		400
Customer relationships | Hunter Technology
Business Acquisition [Line Items]
Intangible asset		14,700
Amortization period (in years)	10 years
Non-compete agreements | Hunter Technology
Business Acquisition [Line Items]
Intangible asset		$ 420
Amortization period (in years)	2 years

Acquisitions Stealth.com - Allo

Acquisitions Stealth.com - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) $ in Thousands, CAD in Millions	Mar. 16, 2015USD ($)	Mar. 16, 2015CAD	Jun. 30, 2015USD ($)	Mar. 16, 2015CAD	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Business Acquisition [Line Items]
Goodwill			$ 74,175		$ 28,189	$ 14,767
Stealth.com
Business Acquisition [Line Items]
Annual revenue for the business	$ 8,000	CAD 10.4
All cash transaction	12,600	CAD 16
Escrow holdback	1,500			CAD 1.9
Goodwill	$ 6,700			CAD 8.6
Net sales			2,500
Income (loss) before income taxes			400
Stealth.com | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related selling and administrative costs			$ 300

Acquisitions KEP Marine - Alloc

Acquisitions KEP Marine - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jan. 21, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
KEP Marine Inc.
Business Acquisition [Line Items]
Annual revenue for the business	$ 3,000
All cash transaction	4,300
Goodwill	$ 1,600
KEP Marine Inc. | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related selling and administrative costs		$ 100

Acquisitions Real-Time Enterpri

Acquisitions Real-Time Enterprises, Inc. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jan. 20, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
Real-Time Enterprises
Business Acquisition [Line Items]
Annual revenue for the business	$ 4,000
All cash transaction	2,300
Contingent consideration	400
Goodwill	1,900
Real-Time Enterprises | Maximum
Business Acquisition [Line Items]
Contingent consideration	$ 800
Real-Time Enterprises | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related selling and administrative costs		$ 200

Acquisitions Argotec, Inc. - Al

Acquisitions Argotec, Inc. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 08, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
Argotec, Inc.
Business Acquisition [Line Items]
All cash transaction	$ 400
Goodwill	$ 200
Argotec, Inc. | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related selling and administrative costs		$ 100

Acquisitions Industrial Electro

Acquisitions Industrial Electronic Devices, Inc. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) $ in Thousands	Dec. 03, 2014USD ($)configuration	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
Industrial Electronic Devices, Inc.
Business Acquisition [Line Items]
Annual revenue for the business	$ 3,000
All cash transaction	3,300
Escrow holdback	$ 500
Standard, semi-custom and custom configurations | configuration	600
Goodwill	$ 2,000
Acquisition related selling and administrative costs		$ 200

Acquisitions Electronic Manufac

Acquisitions Electronic Manufacturing Technology, LLC. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 09, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]
Goodwill		$ 74,175	$ 28,189	$ 14,767
Electronic Manufacturing Technology LLC
Business Acquisition [Line Items]
All cash transaction	$ 20,000
Cash	1,500
Escrow holdback	2,400
Projected annualized revenue	25,000
Post closing working capital adjustment	1,600
Post closing income tax adjustment	469
Total purchase consideration	22,069
Cash	1,505
Accounts receivable	4,444
Inventories	4,090
Other current assets	26
Property, plant and equipment	584
Goodwill	6,959
Other long term assets	30
Accounts payable	(3,636)
Other current liabilities	(693)
Total assets acquired and liabilities assumed	22,069
Net sales		24,000
Income (loss) before income taxes		2,500
Acquisition related selling and administrative costs		$ 600
Electronic Manufacturing Technology LLC | Customer relationships
Business Acquisition [Line Items]
Intangible asset	$ 5,950
Amortization period (in years)	10 years
Electronic Manufacturing Technology LLC | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset	$ 2,730
Amortization period (in years)	5 years
Electronic Manufacturing Technology LLC | Trade names
Business Acquisition [Line Items]
Intangible asset	$ 80
Electronic Manufacturing Technology LLC | Trademarks/Trade names
Business Acquisition [Line Items]
Amortization period (in years)	1 year

Acquisitions Fiscal Year Alloca

Acquisitions Fiscal Year Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 17, 2014	Dec. 11, 2013	Jun. 06, 2013	Nov. 15, 2012	Sep. 30, 2014	Dec. 31, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2015
Business Acquisition [Line Items]
Goodwill								$ 28,189	$ 14,767	$ 74,175
Aubrey Group Inc.
Business Acquisition [Line Items]
Cash	$ 5,000							5,300
Cash consideration paid for excess cash	$ 600							573
Post closing working capital adjustment					$ 300			(252)
Total purchase consideration								5,621
Cash								1,056
Accounts receivable								680
Inventories								184
Deferred income taxes								4
Other current assets								22
Property, plant and equipment								221
Goodwill								4,510
Deferred income taxes - non-current								290
Other long term assets								0
Accounts payable								(173)
Other current liabilities								(1,313)
Total assets acquired and liabilities assumed								5,621
Aubrey Group Inc. | Customer relationships
Business Acquisition [Line Items]
Intangible asset								0
Aubrey Group Inc. | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset								140
Aubrey Group Inc. | Trademarks/Trade names
Business Acquisition [Line Items]
Intangible asset								0
Aubrey Group Inc. | Unpatented technology
Business Acquisition [Line Items]
Intangible asset								0
Beckwood Services Inc.
Business Acquisition [Line Items]
Cash		$ 15,300						15,300
Cash consideration paid for excess cash								0
Post closing working capital adjustment								46
Total purchase consideration								15,346
Cash								0
Accounts receivable								1,157
Inventories								2,075
Deferred income taxes								108
Other current assets								122
Property, plant and equipment								83
Goodwill								6,731
Deferred income taxes - non-current								(3,761)
Other long term assets								8
Accounts payable								(866)
Other current liabilities								(591)
Total assets acquired and liabilities assumed								15,346
Beckwood Services Inc. | Customer relationships
Business Acquisition [Line Items]
Intangible asset								10,000
Beckwood Services Inc. | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset								280
Beckwood Services Inc. | Trademarks/Trade names
Business Acquisition [Line Items]
Intangible asset								0
Beckwood Services Inc. | Unpatented technology
Business Acquisition [Line Items]
Intangible asset								0
Aydin Displays
Business Acquisition [Line Items]
Cash								15,000
Cash consideration paid for excess cash								0
Post closing working capital adjustment								502
Total purchase consideration								15,502
Cash								0
Accounts receivable								2,279
Inventories								6,601
Deferred income taxes								0
Other current assets								895
Property, plant and equipment								582
Goodwill								2,181
Deferred income taxes - non-current								0
Other long term assets								2,292
Accounts payable								(1,215)
Other current liabilities								(443)
Total assets acquired and liabilities assumed								15,502
Aydin Displays | Customer relationships
Business Acquisition [Line Items]
Intangible asset								1,500
Aydin Displays | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset								0
Aydin Displays | Trademarks/Trade names
Business Acquisition [Line Items]
Intangible asset								180
Aydin Displays | Unpatented technology
Business Acquisition [Line Items]
Intangible asset								$ 650
Creonix LLC
Business Acquisition [Line Items]
Cash									2,100
Cash consideration paid for excess cash						$ (100)
Post closing working capital adjustment									(105)
Total purchase consideration			$ 2,000						1,995
Accounts receivable									0
Inventories									1,321
Other current assets									0
Property, plant and equipment									304
Goodwill									100
Accounts payable									0
Other current liabilities									0
Total assets acquired and liabilities assumed									1,995
Creonix LLC | Customer relationships
Business Acquisition [Line Items]
Intangible asset									270
Creonix LLC | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset									0
Onyx EMS, LLC
Business Acquisition [Line Items]
Cash				$ 43,300					43,250
Cash consideration paid for excess cash							$ (2,200)
Post closing working capital adjustment									2,188
Total purchase consideration									45,438
Accounts receivable									7,529
Inventories									8,986
Other current assets									403
Property, plant and equipment									13,656
Goodwill									7,195
Accounts payable									(1,654)
Other current liabilities									(1,077)
Total assets acquired and liabilities assumed									45,438
Onyx EMS, LLC | Customer relationships
Business Acquisition [Line Items]
Intangible asset									10,200
Onyx EMS, LLC | Non-compete agreements
Business Acquisition [Line Items]
Intangible asset									$ 200

Aubrey Group, Inc - Allocation

Aubrey Group, Inc - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - Aubrey Group Inc. - USD ($) $ in Thousands	Mar. 17, 2014	Sep. 30, 2014	Jun. 30, 2014
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]
All cash transaction	$ 5,000		$ 5,300
Post closing working capital adjustment		$ 300	(252)
Working capital adjustment	$ 600		$ 573

Acquisitions Beckwood Services,

Acquisitions Beckwood Services, Inc. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - Beckwood Services Inc. - USD ($) $ in Thousands	Dec. 11, 2013	Jun. 30, 2014
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]
Cash	$ 15,300	$ 15,300
Escrow holdback	$ 1,500

Acquisitions Aydin Displays, In

Acquisitions Aydin Displays, Inc. - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - Aydin Displaces Inc. - USD ($) $ in Millions	Aug. 30, 2013	Mar. 31, 2014
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]
Total purchase consideration	$ 15.5
Working capital adjustment		$ (0.5)
Escrow holdback	$ 1.2

Acquisitions Creonix, LLC - All

Acquisitions Creonix, LLC - Allocation of Total Consideration of Assets Acquired and Liabilities Assumed (Details) - Creonix LLC - USD ($) $ in Thousands	Jun. 06, 2013	Dec. 31, 2013	Jun. 30, 2013
Payments to Acquire Businesses, Net of Cash Acquired [Abstract]
Total purchase consideration	$ 2,000		$ 1,995
Working capital adjustment		$ (100)

Acquisitions Onyx EMS, LLC - Al

Acquisitions Onyx EMS, LLC - Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Details) - Onyx EMS, LLC - USD ($) $ in Thousands	Nov. 15, 2012	Mar. 31, 2013	Jun. 30, 2013
Business Acquisition [Line Items]
All cash transaction	$ 43,300		$ 43,250
Cash consideration paid for excess cash		$ 2,200

Acquisitions Pro Forma Informat

Acquisitions Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Business Combinations [Abstract]
Net sales	$ 461,734	$ 465,229
Income before income taxes	19,345	33,654
Net income	$ 15,219	$ 27,296
Net income per share — basic (in dollars per share)	$ 1.54	$ 2.70
Net income per share — diluted (in dollars per share)	$ 1.54	$ 2.69

Inventories and Cost of Contr61

Inventories and Cost of Contracts in Progress, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Classifications of inventory, net of interim billings
Raw materials	$ 60,668	$ 40,535
Work in process	19,047	10,609
Finished goods	7,244	10,188
Total inventory and cost of contracts in progress, gross	86,959	61,332
Inventory to which the U.S. government has title due to interim billings	(7,456)	(7,960)
Total inventory and cost of contracts in progress, net	79,503	53,372
Inventory write-down	$ 900	$ 500

Property, Plant and Equipment62

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Property, plant and equipment, net
Total property, plant and equipment	$ 68,112	$ 58,581
Less accumulated depreciation	(35,504)	(30,058)
Property, plant and equipment, net	32,608	28,523
Land and land improvements
Property, plant and equipment, net
Total property, plant and equipment	1,429	1,429
Buildings and building improvements
Property, plant and equipment, net
Total property, plant and equipment	27,482	25,779
Machinery and equipment
Property, plant and equipment, net
Total property, plant and equipment	36,923	29,480
Construction in progress
Property, plant and equipment, net
Total property, plant and equipment	$ 2,278	$ 1,893

Goodwill and Other Intangible63

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Carrying value and ending composition of goodwill
Goodwill, beginning of period	$ 28,189	$ 14,767
Additions to goodwill during the period	45,986	13,422
Acquired goodwill	87,328	41,342
Accumulated impairment	(13,153)	(13,153)
Goodwill, end of period	74,175	28,189
Manufacturing & Design Services
Carrying value and ending composition of goodwill
Goodwill, beginning of period	26,008	14,767
Additions to goodwill during the period	35,504	11,241
Acquired goodwill	74,665	39,161
Accumulated impairment	(13,153)	(13,153)
Goodwill, end of period	61,512	26,008
Engineered Components & Products
Carrying value and ending composition of goodwill
Goodwill, beginning of period	2,181	0
Additions to goodwill during the period	10,482	2,181
Acquired goodwill	12,663	2,181
Accumulated impairment	0	0
Goodwill, end of period	$ 12,663	$ 2,181

Goodwill and Other Intangible64

Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Summary of Intangible Assets, net
Gross Carrying Amount	$ 63,861	$ 31,120
Accumulated Amortization	(14,373)	(7,416)
Accumulated Impairments	(3,663)	(3,663)
Net Carrying Value	45,825	20,041
Non-compete agreements
Summary of Intangible Assets, net
Gross Carrying Amount	4,229	420
Accumulated Amortization	(1,100)	(46)
Accumulated Impairments	0	0
Net Carrying Value	$ 3,129	$ 374
Non-compete agreements | Minimum
Summary of Intangible Assets, net
Amortization Period in Months	2 years	24 months
Non-compete agreements | Maximum
Summary of Intangible Assets, net
Amortization Period in Months	5 years	60 months
Customer relationships
Summary of Intangible Assets, net
Gross Carrying Amount	$ 56,595	$ 29,870
Accumulated Amortization	(12,806)	(7,220)
Accumulated Impairments	(3,663)	(3,663)
Net Carrying Value	$ 40,126	$ 18,987
Customer relationships | Minimum
Summary of Intangible Assets, net
Amortization Period in Months	7 years	120 months
Customer relationships | Maximum
Summary of Intangible Assets, net
Amortization Period in Months	15 years	180 months
Trademarks/Trade names
Summary of Intangible Assets, net
Gross Carrying Amount	$ 1,696	$ 180
Accumulated Amortization	(145)	(15)
Accumulated Impairments	0	0
Net Carrying Value	$ 1,551	$ 165
Trademarks/Trade names | Minimum
Summary of Intangible Assets, net
Amortization Period in Months	1 year
Trademarks/Trade names | Maximum
Summary of Intangible Assets, net
Amortization Period in Months	10 years	120 months
Unpatented technology
Summary of Intangible Assets, net
Amortization Period in Months	7 years
Gross Carrying Amount	$ 1,341	$ 650
Accumulated Amortization	(322)	(135)
Accumulated Impairments		0
Net Carrying Value	$ 1,019	$ 515
Unpatented technology | Maximum
Summary of Intangible Assets, net
Amortization Period in Months	84 months	84 months

Goodwill and Other Intangible65

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Aggregate amortization expense relative to existing intangible assets
2,016	$ 9,445
2,017	8,384
2,018	7,234
2,019	6,215
2020 and thereafter	14,547
Net Carrying Value	$ 45,825	$ 20,041

Goodwill and Other Intangible66

Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 6,591	$ 3,423	$ 1,575

Debt - Summary of Long-term deb

Debt - Summary of Long-term debt, net (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Summary of Long-term debt, net
Borrowings under Credit Facility	$ 154,500
Less: current portion	0	$ (900)
Long-term debt, net of current portion	154,500	40,100
Revolving Credit Facility
Summary of Long-term debt, net
Borrowings under Credit Facility	$ 154,500	$ 41,000

Debt (Details Textual)

Debt (Details Textual) - USD ($)	Apr. 13, 2015	Sep. 30, 2014	Jun. 30, 2015	Sep. 11, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Debt Instrument [Line Items]
Line of credit facility amount outstanding			$ 154,500,000
Cash and cash equivalents			14,914,000		$ 8,028,000	$ 6,085,000	$ 46,950,000
Performance based payments on customer contracts in excess of funding			1,756,000		3,196,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 275,000,000		$ 275,000,000
Increase in size of credit facility	75,000,000
Right to request an amount increase	$ 100,000,000
Effective interest rate			1.98%
Available credit			$ 119,800,000
Line of credit facility amount outstanding			154,500,000		$ 41,000,000
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused commitment fees	0.20%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused commitment fees	0.35%
Previous credit facility
Debt Instrument [Line Items]
Deferred financing expense		$ 400,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility amount outstanding			$ 700,000
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rate	1.00%
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rate	1.75%
Bank Base Rate | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rate	0.00%
Bank Base Rate | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rate	0.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 200,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income (loss) before income taxes by Country
Income (loss) before income taxes	$ 14,955	$ 19,602	$ 16,172
United States
Income (loss) before income taxes by Country
Income (loss) before income taxes, Domestic	14,533	18,915	15,239
Vietnam
Income (loss) before income taxes by Country
Income (loss) before income taxes, Foreign	38	691	936
Canada
Income (loss) before income taxes by Country
Income (loss) before income taxes, Foreign	$ 384	$ (4)	$ (3)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Current:
State and local	$ 501	$ 544	$ 430
Provision for income taxes current, Total	4,839	7,591	2,861
Deferred:
State and local	(283)	(131)	(145)
Total provision for income taxes deferred	(873)	(976)	(159)
Total components of provision for income taxes	3,966	6,615	2,702
United States
Current:
United States	4,317	6,913	2,346
Deferred:
United States	465	(852)	(14)
Vietnam
Current:
Foreign	6	134	85
Deferred:
Foreign	0	7	0
Canada
Current:
Foreign	15	0	0
Deferred:
Foreign	$ (1,055)	$ 0	0
Total components of provision for income taxes			$ (2,100)

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Effective Income Tax Rate Reconciliation to Statutory Income Tax Rate
Statutory U.S. federal income tax rate	35.00%	35.00%	34.00%
Significant increases (reductions) resulting from:
Changes in valuation allowance	(7.50%)	0.00%	0.00%
Domestic production activities deduction	(2.70%)	(2.70%)	(2.10%)
Foreign tax rate differences	(0.20%)	(0.70%)	(1.40%)
State and local income taxes, net of federal benefit	2.70%	2.30%	1.80%
Canadian worthless stock and bad debt deduction	0.00%	0.00%	(12.50%)
Other	(0.80%)	(0.20%)	(3.10%)
Effective income tax rate	26.50%	33.70%	16.70%

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Deferred tax assets:
Goodwill	$ (5)	$ 906
Environmental remediation	2,254	2,458
Inventories	3,298	2,694
Employment and compensation accruals	1,341	1,090
Capital loss carryover	263	263
State tax carryovers	373	236
Canadian tax benefits	0	2,063
Canadian tax carryovers	1,164	0
Pension asset	148	0
Other	2,463	1,303
Deferred tax assets	11,299	11,013
Less valuation allowance	(393)	(2,456)
Deferred tax assets, net	10,906	8,557
Deferred tax liabilities:
Property, plant and equipment	(1,430)	(1,296)
Intangible assets	(237)	(1,397)
Pension asset	0	(16)
Other	(2,326)	(843)
Deferred tax liabilities	(3,993)	(3,552)
Net deferred tax assets	$ 6,913	$ 5,005

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Net Deferred Income Tax Assets By Balance Sheets Location
Current deferred income tax assets, net	$ 4,714	$ 3,813
Long term deferred income tax assets, net	2,199	1,192
Net deferred tax assets	$ 6,913	$ 5,005

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income Tax Contingency [Line Items]
Deferred tax asset related to federal net operating losses	$ 100
Deferred tax asset related to state net operating losses	400
Capital loss carryover	263	$ 263
Income tax benefit	(3,966)	(6,615)	$ (2,702)
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Capital loss carryover	300	300
Maximum | State and Local Jurisdiction
Income Tax Contingency [Line Items]
State income tax carryovers	300	300
Canada
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 4,400
Income tax benefit			2,100
Vietnam
Income Tax Contingency [Line Items]
Tax holiday (in years)	4 years
Tax holiday tax rate for fiscal years 2012 to 2015	15.00%
Income tax effect on Net Income		$ 0	$ 100
Income tax effect on earnings per share, basic and diluted ( in dollars per share)	$ 0	$ 0.01	$ 0.01

Employee Retirement Benefit P75

Employee Retirement Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Change in prepaid (accrued) benefit cost:
Interest cost	$ 326	$ 355	$ 343
Expected return on plan assets	(560)	(524)	(514)
Amortization of unrecognized net actuarial loss	81	128	183
Net periodic benefit (income) cost	(153)	(41)	12
Pro rata recognition of lump-sum settlements	0	85	0
Total periodic pension (income) expense	$ (153)	$ 44	$ 12

Employee Retirement Benefit P76

Employee Retirement Benefit Plans (Details 1)		Apr. 01, 2009	Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2013
Defined Benefit and Defined Contribution Pension Plans Disclosure [Abstract]
Benefit Obligation, Discount rate	[1]		4.45%		4.35%		4.75%
Benefit cost, Discount rate	[1]		4.35%		4.75%		4.25%
Benefit Obligation, Rate of compensation increase	[2]		0.00%		0.00%		0.00%
Benefit Cost, Rate of compensation increase		0.00%	0.00%	[2]	0.00%	[2]	0.00%	[2]
Benefit Obligation, Expected long-term rate on plan assets	[3]		7.50%		7.50%		7.50%
Benefit Cost, Expected long-term rate on plan assets	[3]		7.50%		7.50%		7.50%
[1]	The Company determines its assumption for the discount rate on an index of high-quality corporate bond yields and matching-funding yield curve analysis.
[2]	The rate of compensation increase for calculation of the benefit obligation is 0.0% due to the freezing of the plan as of April 1, 2009.
[3]	The expected long-term rate of return for plan assets is based on similar indices such as Citigroup Pension Liability Index and Composite Corporate Bond Rates as of the measurement date.

Employee Retirement Benefit P77

Employee Retirement Benefit Plans (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Change in prepaid benefit cost:
Prepaid benefit cost at beginning of fiscal year	$ 1,643	$ 1,543
Net periodic benefit income (cost) for fiscal year	68	41
Employer contributions to plan	0	59	$ 200
Prepaid benefit cost at end of fiscal year	1,711	1,643	1,543
Change in projected benefit obligation:
Projected benefit obligation at beginning of fiscal year	8,107	8,166
Interest cost	326	355	343
Actuarial experience and changes in assumptions	549	389
Benefits paid	(632)	(803)
Projected benefit obligation at end of fiscal year	8,350	8,107	8,166
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	8,151	7,748
Employer contributions	0	59	200
Actual return on plan assets	407	1,147
Benefits paid	(632)	(803)
Fair value of plan assets at end of fiscal year	7,926	8,151	$ 7,748
Amounts recognized in the Consolidated Balance Sheets:
Pension asset	0	44
Pension liability — non-current portion	(424)	0
Funded status — total balance sheet asset (liability)	$ (424)	$ 44

Employee Retirement Benefit P78

Employee Retirement Benefit Plans (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Pension related amounts recognized in other comprehensive income (loss)
Amortization of unrecognized net actuarial loss	$ 81	$ 128	$ 183
Pro rata recognition of lump-sum settlements	0	85	0
Net actuarial (loss) gain	(702)	234	541
Total recognized in other comprehensive income (loss)	$ (621)	$ 447	$ 724

Employee Retirement Benefit P79

Employee Retirement Benefit Plans (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accumulated other comprehensive loss:
Net actuarial loss	$ 2,134	$ 1,513
Total	$ 2,134	$ 1,513

Employee Retirement Benefit P80

Employee Retirement Benefit Plans (Details 5) - Pension plan $ in Thousands	Jun. 30, 2015USD ($)
Expected benefit payments for the defined benefit pension plan
2,016	$ 990
2,017	712
2,018	668
2,019	565
2,020	569
2021 – 2025	2,517
Total	$ 6,021

Employee Retirement Benefit P81

Employee Retirement Benefit Plans (Details 6) - Pension plan	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Summary of pension plan asset allocations
Weighted average allocation	100.00%	100.00%
Equity securities
Summary of pension plan asset allocations
Target plan asset allocation, minimum	40.00%
Target plan asset allocation, maximum	70.00%
Weighted average allocation	60.00%	61.00%
Fixed income (debt) securities
Summary of pension plan asset allocations
Target plan asset allocation, minimum	30.00%
Target plan asset allocation, maximum	60.00%
Weighted average allocation	37.00%	37.00%
Cash and cash equivalents
Summary of pension plan asset allocations
Target plan asset allocation, minimum	0.00%
Target plan asset allocation, maximum	10.00%
Weighted average allocation	3.00%	2.00%

Employee Retirement Benefit P82

Employee Retirement Benefit Plans (Details 7) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Estimated fair value of plan assets by asset class
Total assets measured at fair value	$ 7,926	$ 8,151	$ 7,748
Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	7,926	8,151
Directly held corporate stock — Large Cap | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	2,394	2,152
Registered investment companies — Large Cap | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	1,079	1,336
Registered investment companies — Mid-Cap Growth | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	287	343
Registered investment companies — Small-Cap | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	359	318
Registered investment companies — International | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	646	873
Registered investment companies — Intermediate Bond | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	2,896	2,990
Cash and cash equivalents | Level 1 | Pension plan
Estimated fair value of plan assets by asset class
Total assets measured at fair value	$ 265	$ 139

Employee Retirement Benefit P83

Employee Retirement Benefit Plans (Details Textual) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2015USD ($)employeeshares	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Employee retirement benefit plans (Textual) [Abstract]
Number of employees and retirees covered by a defined benefit pension plan | employee	341
Employer contributions	$ 0	$ 59	$ 200
Amortized accumulated other comprehensive loss, pre-tax	$ 100
Participants maximum percentage contribution of compensation to company's defined contribution plan	100.00%
Company's matching contributions of participant's basic contribution	50.00%	50.00%	50.00%
Participants maximum percentage of eligible compensation contribution for company's match	6.00%	6.00%	6.00%
Number of Sparton's Shares held in the Company's 401 (k) plan (in shares) | shares	111
Company's matching contributions and administrative expenses	$ 1,200	$ 1,200	$ 900
Total plan assets	$ 44,400

Commitments and Contingencies84

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2015USD ($)
Future minimum annual lease payments
2,016	$ 2,547
2,017	2,737
2,018	2,080
2,019	1,431
2,020	1,338
Thereafter	2,381
Total	$ 12,514

Commitments and Contingencies85

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Aug. 24, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2003
Commitments and contingencies (Textual) [Abstract]
Rent expense			$ 2,500	$ 1,500	$ 1,400
Contingent rent expense			500	300	$ 200
Accrual amount of minimum future undiscounted financial liability related to Coors Road Property		$ 8,200		8,200
Environmental remediation expense		4,200
Loss Contingency Accrual			7,800
Amount of financial liability included in other accrued expenses of current liability			700
Percentage of certain future environmental expenses over the threshold reimbursed						37.50%
Certain future environmental expenses threshold amount whose excess in percentage reimbursed						$ 8,400
Expended amount			6,000
Environmental remediation - indemnification asset		$ 1,509	1,832	$ 1,509
Estimated additional possible future environmental remediation costs			$ 2,900
Period for reimbursement before income taxes			15 years
Environmental remediation, expected reimbursements from department of energy			$ 1,000
Subsequent Event | Settled Litigation
Commitments and contingencies (Textual) [Abstract]
Required payment for dismissal of litigation	$ 2,500

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Stock-based compensation expense by type of share-based award
Total stock-based compensation	$ 1,885	$ 1,662	$ 1,128
Fair value expense of stock option awards
Stock-based compensation expense by type of share-based award
Total stock-based compensation	352	0	0
Restricted Stock Units
Stock-based compensation expense by type of share-based award
Total stock-based compensation	518	0	0
Restricted and unrestricted stock
Stock-based compensation expense by type of share-based award
Total stock-based compensation	$ 1,015	$ 1,662	$ 1,128

Stock-Based Compensation (Det87

Stock-Based Compensation (Details 1) - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Unrecognized compensation cost related to restricted stock grants and the fair value expense of stock option awards
Remaining unrecognized compensation cost, Total	$ 2,130
Weighted average remaining required service period, restricted stock, Total (in years)	1 year 8 months 27 days
Fair value expense of stock option awards
Unrecognized compensation cost related to restricted stock grants and the fair value expense of stock option awards
Remaining unrecognized compensation cost, fair value expense of stock option awards	$ 633
Weighted average remaining required service period, restricted stock (in years)	1 year 9 months 18 days
Restricted Stock Units
Unrecognized compensation cost related to restricted stock grants and the fair value expense of stock option awards
Remaining unrecognized compensation cost, fair value expense of stock option awards	$ 1,026
Weighted average remaining required service period, restricted stock (in years)	1 year 9 months 29 days
Restricted stock
Unrecognized compensation cost related to restricted stock grants and the fair value expense of stock option awards
Remaining unrecognized compensation cost, restricted stock	$ 471
Weighted average remaining required service period, restricted stock (in years)	1 year 5 months 19 days

Stock-Based compensation (Det88

Stock-Based compensation (Details 2) - Jun. 30, 2015 - Stock options - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	2.06%
Volatility	34.10%
Dividend yield	0.00%
Expected life in years	6 years 3 months
Fair value price (dollars per share)	$ 9.99

Stock-Based Compensation (Det89

Stock-Based Compensation (Details 3) - $ / shares	12 Months Ended
	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, outstanding, beginning balance (in shares)	38,543
Number of options, Granted (in shares)	123,684
Number of options, Exercised (in shares)	(19,247)
Number of options, Forfeited (in shares)	(35,396)
Number of options, Expired (in shares)	0
Number of options, outstanding, ending balance (in shares)	107,584
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, outstanding, beginning balance (in dollars per share)	$ 8.57
Weighted average exercise price, Granted (in dollars per share)	26.58
Weighted average exercise price, Exercised (in dollars per share)	8.57
Weighted average exercise price, Forfeited (in dollars per share)	16.89
Weighted average exercise price, Expired (in dollars per share)	0
Weighted average exercise price, outstanding, ending balance (in dollars per share)	$ 26.54

Stock-Based Compensation (Det90

Stock-Based Compensation (Details 4) - Jun. 30, 2015 - Exercise Price Range Two - USD ($) $ / shares in Units, $ in Thousands	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, minimum (in dollars per share)	$ 23.85
Range of Exercise Prices, maximum (in dollars per share)	$ 26.86
Options Outstanding, Number Outstanding	107,584
Options Outstanding, Weighted Average Remaining Contractural Life (in years)	9 years 3 months 29 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 26.54
Options Outstanding, Aggregate Intrinsic Value	$ 0
Options Exercisable, Number Exercisable	0
Options Exercisable, Weighted Average Remaining Contractural Life (in years)
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 0
Options Exercisable, Aggregate Intrinsic Value	$ 0

Stock-Based Compensation (Det91

Stock-Based Compensation (Details 5) - 12 months ended Jun. 30, 2015 - Restricted Stock Units - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted shares, beginning balance (in shares)	0
Restricted stock units, granted (in shares)	75,045
Restricted stock units, forfeited (in shares)	(12,217)
Restricted shares, ending balance (in shares)	62,828
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Restricted shares, weighted average grant date fair value, beginning balance (in dollars per share)	$ 0
Restricted stock units, granted, weighted average grant date fair value (in dollars per share)	26.70
Restricted stock units, forfeited, weighted average grant date fair value (in dollars per share)	26.35
Restricted shares, weighted average grant date fair value, ending balance (in dollars per share)	$ 26.77

Stock-Based Compensation (Det92

Stock-Based Compensation (Details 6) - 12 months ended Jun. 30, 2015 - Restricted stock - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted shares, beginning balance (in shares)	316,997
Restricted shares, granted (in shares)	26,793
Restricted shares, vested (in shares)	(172,459)
Restricted shares, forfeited (in shares)	(39,032)
Restricted shares, ending balance (in shares)	132,299
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Restricted shares, weighted average grant date fair value, beginning balance (in dollars per share)	$ 12.38
Restricted shares, granted, weighted average grant date fair value (in dollars per share)	25.86
Restricted shares, vested, weighted average grant date fair value (in dollars per share)	11.16
Restricted shares, forfeited, weighted average grant date fair value (in dollars per share)	19.56
Restricted shares, weighted average grant date fair value, ending balance (in dollars per share)	$ 14.58

Stock-Based Compensation (Det93

Stock-Based Compensation (Details Textual) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2015USD ($)plan$ / sharesshares	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Stock-Based Compensation (Textual) [Abstract]
Number of long-term incentive plans | plan	2
Description	Under the 2010 Plan, the Company may grant to employees, officers and directors of the Company or its subsidiaries incentive and non-qualified stock options, stock appreciation rights, restricted stock or restricted stock units, performance awards and other stock-based awards, including grants of shares
Plan terms	2010 Plan vest annually over four years, subject to achievement of certain financial performance metrics in addition to the service requirements
Shares authorized (in shares)	1,000,000
Term of plan	10 years
Shares available for award (in shares)	511,338
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $	$ 0.1
2001 Plan
Stock-Based Compensation (Textual) [Abstract]
Description	Under the 2001 Plan, the Company may grant to employees and non-employee directors incentive and non-qualified stock options, stock appreciation rights, restricted stock and other stock-based awards
Plan terms	2001 Plan have either three, five or ten-year lives with either immediate vesting or vesting on an annual basis over four years beginning one year after grant date
Termination date	Oct. 24, 2011
Shares authorized (in shares)	970,161
2010 Plan
Stock-Based Compensation (Textual) [Abstract]
Vesting period	4 years
Expiration Period One | 2001 Plan
Stock-Based Compensation (Textual) [Abstract]
Contractual term	3 years
Expiration Period Two | 2001 Plan
Stock-Based Compensation (Textual) [Abstract]
Contractual term	5 years
Expiration Period Three | 2001 Plan
Stock-Based Compensation (Textual) [Abstract]
Contractual term	10 years
Stock options
Stock-Based Compensation (Textual) [Abstract]
Dividend yield	0.00%
Stock options | 2001 Plan
Stock-Based Compensation (Textual) [Abstract]
Vesting period	4 years
Stock options | 2001 Plan | Minimum
Stock-Based Compensation (Textual) [Abstract]
Vesting period	2 years 6 months
Stock options | 2001 Plan | Maximum
Stock-Based Compensation (Textual) [Abstract]
Vesting period	4 years
Restricted stock | 2010 Plan
Stock-Based Compensation (Textual) [Abstract]
Total fair value of restricted stock vested | $	$ 4.3	$ 1.6	$ 1
Management
Stock-Based Compensation (Textual) [Abstract]
Grant of stock option (in shares)	123,684
Weighted average exercise price (in dollars per share) | $ / shares	$ 26.58

Earnings Per Share Data (Detail

Earnings Per Share Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Earnings per share
Net income	$ 5,098	$ 4,133	$ 1,562	$ 196	$ 2,971	$ 4,246	$ 3,484	$ 2,286	$ 10,989	$ 12,987	$ 13,470
Less net income allocated to contingently issuable participating securities									(126)	0	0
Net income available to common shareholders									$ 10,863	$ 12,987	$ 13,470
Weighted average shares outstanding - Basic (in shares)									9,874,441	10,109,915	10,193,530
Dilutive effect of stock options (in shares)									11,520	31,480	35,157
Weighted average shares outstanding - Diluted (in shares)									9,885,961	10,141,395	10,228,687
Net income per share:
Income per share - Basic (in dollars per share)	$ 0.52	$ 0.42	$ 0.16	$ 0.02	$ 0.29	$ 0.42	$ 0.34	$ 0.23	$ 1.10	$ 1.28	$ 1.32
Income per share - Diluted (in dollars per share)	$ 0.51	$ 0.42	$ 0.16	$ 0.02	$ 0.29	$ 0.42	$ 0.34	$ 0.23	$ 1.10	$ 1.28	$ 1.32

Earnings Per Share Data (Deta95

Earnings Per Share Data (Details Textual) - shares	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Earnings (Loss) Per Share Data (Textual) [Abstract]
Unvested restricted shares included in determining basic and diluted earnings (in shares)	132,299	316,997	311,253
Potential shares excluded from EPS computation	0	0	0

Stock Repurchase Plan (Details

Stock Repurchase Plan (Details Textual) - Common Stock - Share Repurchase Program - USD ($)	May. 01, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Oct. 22, 2014
Stock Repurchase Plan (Textual) [Abstract]
Repurchase of stock, authorized amount	$ 3,000,000				$ 5,000,000
Payment for purchasing shares of common stock (in shares)	175,277	181,278	47,119	128,158
Average price of common stock per share (in dollars per share)	$ 17.08	$ 27.55	$ 18.51	$ 16.55
Repurchase of stock		$ 5,000,000	$ 900,000	$ 2,100,000
Period beginning on the date of authorization	12 months

Restructuring Activities (Detai

Restructuring Activities (Details Textual) - USD ($) $ in Millions	Sep. 30, 2013	Jun. 30, 2013
CS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0.2
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring or impairment charges related acquisition related restructuring activities		$ 0.2
Production Transfer
Restructuring Cost and Reserve [Line Items]
Restructuring or impairment charges related acquisition related restructuring activities		0.1
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring or impairment charges related acquisition related restructuring activities		$ 0.1

Business Segments (Details)

Business Segments (Details) $ in Thousands	Jun. 30, 2014USD ($)segment	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2015USD ($)segment	Jun. 30, 2014USD ($)segment	Jun. 30, 2013USD ($)segment
Segment Reporting Information [Line Items]
Number of reportable business segments | segment	3									2	3	3
Operating results and other financial information by segment
Net sales		$ 126,393	$ 93,065	$ 85,642	$ 77,025	$ 93,500	$ 83,983	$ 84,717	$ 74,301	$ 382,125	$ 336,501	$ 265,003
Gross profit		28,055	$ 18,631	$ 15,171	$ 12,814	20,908	$ 16,478	$ 15,132	$ 12,297	74,671	64,815	45,811
Operating income (loss)										17,252	20,251	16,417
Selling and administrative expenses										46,876	35,698	26,451
Internal research and development expenses										1,502	1,169	1,300
Restructuring charges										0	188	55
Depreciation/amortization										11,236	8,123	4,761
Capital expenditures										5,802	3,501	3,872
Total assets	$ 198,980	337,551				198,980				337,551	198,980
Operating Segments | Manufacturing & Design Services
Operating results and other financial information by segment
Net sales										263,940	246,129	207,898
Gross profit										36,461	34,782	28,051
Operating income (loss)										9,535	17,029	15,531
Selling and administrative expenses										18,615	14,449	10,890
Internal research and development expenses										0	0	0
Restructuring charges											188	55
Depreciation/amortization										8,875	6,576	3,903
Capital expenditures										1,599	1,412	2,566
Total assets	144,991	238,777				144,991				238,777	144,991
Operating Segments | Engineered Components & Products
Operating results and other financial information by segment
Net sales										136,315	109,134	75,430
Gross profit										38,210	30,033	17,760
Operating income (loss)										25,033	19,943	11,525
Selling and administrative expenses										10,895	8,750	4,935
Internal research and development expenses										1,502	1,169	1,300
Restructuring charges											0	0
Depreciation/amortization										1,648	1,149	626
Capital expenditures										1,294	1,090	996
Total assets	35,033	64,880				35,033				64,880	35,033
Corporate and Other Unallocated
Operating results and other financial information by segment
Net sales										0	0	0
Gross profit										0	0	0
Operating income (loss)										(17,316)	(16,721)	(10,639)
Selling and administrative expenses										17,366	12,499	10,626
Internal research and development expenses										0	0	0
Restructuring charges											0	0
Depreciation/amortization										713	398	232
Capital expenditures										2,909	999	310
Total assets	18,956	33,894				18,956				33,894	18,956
Eliminations
Operating results and other financial information by segment
Net sales										(18,130)	(18,762)	(18,325)
Gross profit										0	0	0
Operating income (loss)										0	0	0
Selling and administrative expenses										0	0	0
Internal research and development expenses										0	0	0
Restructuring charges											0	0
Depreciation/amortization										0	0	0
Capital expenditures										0	0	$ 0
Total assets	$ 0	$ 0				$ 0				$ 0	$ 0

Business, Geographic and Sale99

Business, Geographic and Sales Concentration (Details)		12 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
US Navy
Sales to individual customers in excess of 10% of total net sales
Sales to individual customers in excess of 10% of total net sales	[1]	25.00%	19.00%	20.00%
Fenwal Blood Technologies
Sales to individual customers in excess of 10% of total net sales
Sales to individual customers in excess of 10% of total net sales	[2]	10.00%	14.00%	20.00%
[1]	Sales to the United States Navy, including those made through the Company’s ERAPSCO joint venture, are included in the results of the Company’s ECP segment.
[2]	Sales to Fenwal Blood Technologies are included in the results of the Company’s MDS segment.

Business, Geographic and Sal100

Business, Geographic and Sales Concentration (Details 1) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Sales to customers by country
Net sales		$ 126,393	$ 93,065	$ 85,642	$ 77,025	$ 93,500	$ 83,983	$ 84,717	$ 74,301	$ 382,125	$ 336,501	$ 265,003
United States
Sales to customers by country
Net sales										345,643	296,328	235,231
Other foreign countries
Sales to customers by country
Net sales	[1]									$ 36,482	$ 40,173	$ 29,772
[1]	No other single country or currency zone accounted for 10% or more of export sales in the fiscal years ended June 30, 2015, 2014, or 2013.

Business, Geographic and Sal101

Business, Geographic and Sales Concentration (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Capital expenditures net of accumulated depreciation by country
Property, plant and equipment, net	$ 32,608	$ 28,523
United States
Capital expenditures net of accumulated depreciation by country
Property, plant and equipment, net	30,205	26,092
Vietnam
Capital expenditures net of accumulated depreciation by country
Property, plant and equipment, net	$ 2,403	$ 2,431

Business, Geographic and Sal102

Business, Geographic and Sales Concentration (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Business Geographic and Sales Concentration (Textual) [Abstract]
Sale of ASW devices and related engineering contract service	$ 110.2	$ 92.8	$ 73.8
Percentage of ASW devices and related engineering contract services sales to total net sale	29.00%	28.00%	28.00%

Quarterly Results of Operati103

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Quarterly Results of Operations
Net sales	$ 126,393	$ 93,065	$ 85,642	$ 77,025	$ 93,500	$ 83,983	$ 84,717	$ 74,301	$ 382,125	$ 336,501	$ 265,003
Gross profit	28,055	18,631	15,171	12,814	20,908	16,478	15,132	12,297	74,671	64,815	45,811
Net income	$ 5,098	$ 4,133	$ 1,562	$ 196	$ 2,971	$ 4,246	$ 3,484	$ 2,286	$ 10,989	$ 12,987	$ 13,470
Income per share - Basic (in dollars per share)	$ 0.52	$ 0.42	$ 0.16	$ 0.02	$ 0.29	$ 0.42	$ 0.34	$ 0.23	$ 1.10	$ 1.28	$ 1.32
Income per share - Diluted (in dollars per share)	$ 0.51	$ 0.42	$ 0.16	$ 0.02	$ 0.29	$ 0.42	$ 0.34	$ 0.23	$ 1.10	$ 1.28	$ 1.32

Subsequent Event (Details Textu

Subsequent Event (Details Textual) $ in Millions	Aug. 24, 2015USD ($)
Settled Litigation | Subsequent Event
Subsequent Event [Line Items]
Required payment for dismissal of litigation	$ 2.5

Valuation and Qualifying Acc105

Valuation and Qualifying Accounts (Details) - Allowance for losses on accounts receivable - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 126	$ 61	$ 146
Additions Charged to Costs and Expenses	47	87	128
Allowance for Losses Acquired	97	57	54
Write-Offs/ Dispositions	(97)	(79)	(267)
Balance at End of Period	$ 173	$ 126	$ 61