Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 103

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 1
Chunk 103
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 businesses, particularly through headcount reductions, facility closures, and consolidations. Restructuring expenses primarily related to headcount reductions and other cost saving initiatives. During fiscal year 2025, we also incurred restructuring expenses related to third party assistance with analysis and implementation of these activities.

       Involuntary Employee          
   Severance and          
 Current Year Initiatives   Benefit Costs   Other   Total 
 Restructuring liabilities at June 30, 2024  $-  $-  $- 
 Additions and adjustments   2,679   1,164   3,843 
 Payments   (2,035)  (1,164)  (3,199)
 Restructuring liabilities at June 30, 2025  $644  $-  $644 

       51

   Prior Year Restructuring Initiatives
    
   The Company continues to focus our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations.  During fiscal years 2024 and 2023, the Company also incurred restructuring expenses related to headcount reductions, facility rationalization and third party assistance with analysis and implementation of these activities.
    
   The Company expects to incur additional restructuring costs of approximately $5.5 million in fiscal year 2026 as the Company continues to focus its efforts to reduce cost and improve productivity across its businesses, particularly through facility closures and consolidations.
    
   Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):

       Involuntary Employee          
   Severance and          
 Prior Year Initiatives   Benefit Costs   Other   Total 
 Restructuring liabilities at June 30, 2024  $1,253  $194  $1,447 
 Additions and adjustments   2,190   870   3,060 
 Payments   (2,690)  (1,004)  (3,694)
 Restructuring liabilities at June 30, 2025  $753  $60  $813 

   Activity in the reserves in fiscal year 2024 (in thousands):

       Involuntary Employee          
   Severance and          
   Benefit Costs    Other