Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Minimum payments under purchase contracts

At June 30, 2012, minimum payments under these contracts were as follows (in thousands):



Yarn	$	21,871
Natural Gas	1,346
Finished fabric	1,611
Finished products	21,823
	$	46,651

Outstanding financial instruments

The outstanding financial instruments as of June 30, 2012 are as follows:



	Effective Date	Notational Amount	LIBOR Rate		Maturity Date
Interest Rate Swap	9/1/2011	$10 million	0.7650	%	9/1/2013
Interest Rate Swap	9/1/2011	$10 million	0.9025	%	3/1/2014
Interest Rate Swap	9/1/2011	$10 million	1.0700	%	9/1/2014

Financial liabilities measure at fair value on a recurring basis

The following financial liabilities are measured at fair value on a recurring basis (in thousands):



	Fair Value Measurements Using
Period Ended	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Interest Rate Swap
June 30, 2012	$	209	—	$	209	—
July 2, 2011	$	22	—	$	22	—

Contingent Consideration
June 30, 2012	—		—	—		—
July 2, 2011	—		—	—		—

Summary of fair value and presentation in the consolidated balance sheets for derivatives

The following table summarizes the fair value and presentation in the consolidated balance sheets for derivatives as of June 30, 2012 and July 2, 2011.



	June 30, 2012			7/2/2011
Accrued expenses	$	—		$	22
Deferred tax liabilities	(80		)	(8		)
Other liabilities	209			—
Accumulated other comprehensive loss	$	129		$	14

Schedule of Future Minimum Payments

Future minimum lease payments under non-cancelable operating leases as of June 30, 2012 were as follows (in thousands):



Fiscal Year	Amount
2013	$	8,912
2014	7,054
2015	6,609
2016	4,947
2017	2,618
Thereafter	1,183
	$	31,323

Based on minimum sales requirements, future minimum royalty payments required under these license agreements are (in thousands):



Fiscal Year	Amount
2013	$	2,496
2014	2,787
2015	2,335
2016	770
2017	—
	$	8,388

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References + Details