Note 18 - Divestitures |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
18. Divestitures
On March 5, 2026, the Company closed on the sale of and divested Federal Industries ("Federal"), its display merchandising business to a third party for cash proceeds of $68.3 million, net of cash retained and subject to customary adjustments for net working capital, cash and indebtedness. The divestiture does not represent a strategic shift that has a major effect on the Company’s operations and financial results and its results are included in continuing operations on the Company's Consolidated Statements of Operations. The net income of the disposal group through the completion date is included in the Company's Consolidated Statements of Operations. The pre-tax income for Federal was $4.0 million, $7.3 million and $9.3 million for years ended June 30, 2026, 2025 and 2024 respectively.
The table below summarizes the components of the transaction and the resulting gain on divestiture (in thousands):
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