NOTE 14 – RESTRUCTURING CHARGE:

In the second quarter of fiscal 2018, the Company aligned its workforce with market conditions by reducing the number of management, office and manufacturing positions.  As a result, a restructuring charge of $316 was recognized in the three months and six months ended September 30, 2017.  The restructuring charge included severance and related employee benefit costs.  The charge is included in the caption “Restructuring Charge” in the Condensed Consolidated Statements of Income and Retained Earnings for the three months and six months ended September 30, 2017.   The reconciliation of the changes in the restructuring reserve is as follows:

The liability of $18 at March 31, 2018 is included in the caption “Accrued Compensation” in the Condensed Consolidated Balance Sheet.