0001049521-20-000034 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 226,838	$ 257,932
Accounts receivable, net of allowance for doubtful accounts of $1,451 and $1,228 at July 3, 2020 and June 30, 2019, respectively	120,438	118,832
Contract with Customer, Asset, Net, Current	90,289	57,387
Inventory	178,093	137,112
Prepaid income taxes	2,498	90
Prepaid expenses and other current assets	16,613	10,819
Total current assets	634,769	582,172
Property and equipment, net	87,737	60,001
Goodwill	614,076	562,146
Acquired intangible assets, net	208,748	206,124
Operating lease right-of-use assets	60,613	0
Other non-current assets	4,777	6,534
Total assets	1,610,720	1,416,977
Current liabilities:
Accounts payable	41,877	39,030
Accrued expenses	23,794	18,897
Accrued compensation	41,270	28,814
Deferred revenues and customer advances	18,974	11,291
Total current liabilities	125,915	98,032
Deferred income taxes	13,889	17,814
Income taxes payable	4,117	1,273
Operating lease liabilities	66,981	0
Other non-current liabilities	15,034	15,119
Total liabilities	225,936	132,238
Commitments and contingencies
Shareholders' equity:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value; 85,000,000 shares authorized; 54,702,322 and 54,247,532 shares issued and outstanding at July 3, 2020 and June 30, 2019, respectively	547	542
Additional paid-in capital	1,074,667	1,058,745
Retained earnings	312,455	226,743
Accumulated other comprehensive income	(2,885)	(1,291)
Total shareholders' equity	1,384,784	1,284,739
Total liabilities and shareholders' equity	1,610,720	1,416,977
Contract with Customer, Asset, Net, Current	90,289	57,387
Goodwill	614,076	562,146
Acquired intangible assets, net	$ 208,748	$ 206,124

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,451	$ 1,228
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	85,000,000	85,000,000
Common stock, shares issued	54,702,322	54,247,532
Common stock, shares outstanding	54,702,322	54,247,532

Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net revenues	$ 796,610	$ 654,744	$ 493,184
Cost of revenues	439,766	368,588	267,326
Gross margin	356,844	286,156	225,858
Operating expenses:
Selling, general and administrative	132,253	110,717	88,365
Research and development	98,485	68,925	58,807
Amortization of intangible assets	30,560	27,914	26,004
Restructuring and other charges	1,805	560	3,159
Acquisition costs and other related expenses	2,679	1,456	2,538
Total operating expenses	265,782	209,572	178,873
Income from operations	91,062	76,584	46,985
Interest income	2,151	932	32
Interest expense	(1,006)	(9,109)	(2,850)
Other income, net	1,726	(8,880)	(1,594)
Income before income taxes	93,933	59,527	42,573
Tax provision	8,221	12,752	1,690
Net income	$ 85,712	$ 46,775	$ 40,883
Basic net earnings (loss) per share:
Basic net income per share (in dollars per share)	$ 1.57	$ 0.98	$ 0.88
Diluted net earnings (loss) per share:
Diluted net income per share (in dollars per share)	$ 1.56	$ 0.96	$ 0.86
Weighted-average shares outstanding:
Basic (in shares)	54,546	47,831	46,719
Diluted (in shares)	55,115	48,500	47,471
Comprehensive income:
Net income	$ 85,712	$ 46,775	$ 40,883
Foreign currency translation adjustments	174	(232)	(137)
Pension benefit plan, net of tax	(1,768)	(2,350)	354
Total other comprehensive (loss) income, net of tax	(1,594)	(2,582)	217
Total comprehensive income	$ 84,118	$ 44,193	$ 41,100

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income
Beginning Balance (in shares) at Jun. 30, 2017		46,303,000
Beginning Balance at Jun. 30, 2017	$ 725,417	$ 463	$ 584,795	$ 139,085	$ 1,074
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock incentive plans (in shares)		868,000
Issuance of common stock under employee stock incentive plans	663	$ 8	655
Issuance of common stock under employee stock purchase plan (in shares)		82,000
Issuance of common stock under employee stock purchase plan	2,782	$ 1	2,781
Stock Repurchased and Retired During Period, Shares		(329,000)
Stock Repurchased and Retired During Period, Value	(15,508)	$ (3)	(15,505)
Stock-based compensation	17,437		17,437
Net income	40,883			40,883
Other Comprehensive Income (Loss), Net of Tax					217
Foreign currency translation adjustments	(137)
Ending Balance (in shares) at Jun. 30, 2018		46,924,000
Ending Balance at Jun. 30, 2018	771,891	$ 469	590,163	179,968	1,291
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock incentive plans (in shares)		478,000
Issuance of common stock under employee stock incentive plans	0	$ 5	(5)
Issuance of common stock under employee stock purchase plan (in shares)		102,000
Issuance of common stock under employee stock purchase plan	3,661	$ 1	3,660
Stock Repurchased and Retired During Period, Shares		(156,000)
Stock Repurchased and Retired During Period, Value	(7,968)	$ (2)	(7,966)
Stock Issued During Period, Shares, New Issues		6,900,000
Stock Issued During Period, Value, New Issues	453,573	$ 69	453,504
Stock-based compensation	19,389		19,389
Net income	46,775			46,775
Other Comprehensive Income (Loss), Net of Tax					(2,582)
Foreign currency translation adjustments	$ (232)
Ending Balance (in shares) at Jun. 30, 2019	54,247,532	54,248,000
Ending Balance at Jun. 30, 2019	$ 1,284,739	$ 542	1,058,745	226,743	(1,291)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock incentive plans (in shares)		562,000
Issuance of common stock under employee stock incentive plans	5	$ 6	(1)
Issuance of common stock under employee stock purchase plan (in shares)		89,000
Issuance of common stock under employee stock purchase plan	5,312	$ 1	5,311
Stock Repurchased and Retired During Period, Shares		(197,000)
Stock Repurchased and Retired During Period, Value	(16,249)	$ (2)	(16,247)
Stock-based compensation	26,859		26,859
Net income	85,712			85,712
Other Comprehensive Income (Loss), Net of Tax					(1,594)
Foreign currency translation adjustments	$ 174
Ending Balance (in shares) at Jul. 03, 2020	54,702,322	54,702,000
Ending Balance at Jul. 03, 2020	$ 1,384,784	$ 547	$ 1,074,667	$ 312,455	$ (2,885)

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 85,712	$ 46,775	$ 40,883
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	49,330	46,392	42,277
Share-based Compensation	26,538	19,422	17,314
Deferred income taxes	(3,019)	(1,557)	(5,464)
Gain on investments	(5,817)	0	0
Termination of interest rate swap	0	5,420	0
Other non-cash items	3,509	3,779	2,103
Changes in operating assets and liabilities, net of effects of businesses acquired:
Accounts receivable, unbilled receivable, and cost in excess of billings	(31,079)	(28,096)	(22,751)
Inventory	(31,609)	(17,101)	(16,230)
Prepaid income taxes	(2,792)	3,843	(2,327)
Prepaid expenses and other current assets	(2,116)	(1,075)	(361)
Other non-current assets	(1,260)	101	296
Accounts payable and accrued expenses	13,610	17,949	(5,267)
Deferred revenues and customer advances	7,082	(1,531)	6,035
Income taxes payable	(131)	3,152	(11,187)
Other non-current liabilities	7,226	44	(2,000)
Net cash provided by operating activities	115,184	97,517	43,321
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired	(96,502)	(127,083)	(185,396)
Purchases of property and equipment	(43,294)	(26,691)	(15,106)
Proceeds from sale of investment	4,310	0	0
Other investing activities	0	0	(375)
Net cash used in investing activities	(135,486)	(153,774)	(200,877)
Cash flows from financing activities:
Proceeds from employee stock plans	5,317	3,661	3,445
Stock Repurchased and Retired During Period, Value	(16,249)	(7,968)	(15,508)
Payments of term debt	(200,000)	(324,500)	(15,000)
Borrowings under credit facilities	200,000	129,500	210,000
Proceeds from equity offering, net	0	454,343	0
Termination of interest rate swap	0	(5,420)	0
Payments of deferred financing and offering costs	0	1,851	0
Net cash (used in) provided by financing activities	(10,932)	247,765	182,937
Effect of exchange rate changes on cash and cash equivalents	140	(97)	(497)
Net (decrease) increase in cash and cash equivalents	(31,094)	191,411	24,884
Cash and cash equivalents at beginning of year	257,932	66,521	41,637
Cash and cash equivalents at end of year	226,838	257,932	66,521
Cash paid during the period for:
Interest	1,046	10,368	1,607
Income taxes	12,939	7,351	17,004
Non-cash investing activity	2,623	0	0
Non-cash financing activity	$ 0	$ 770	$ 0

Fair Value of Financial Instruments

12 Months Ended

Jul. 03, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at July 3, 2020:


	Fair Value Measurements
	July 3, 2020		Level 1		Level 2		Level 3
Assets:

Certificates of deposit	$	10,006	$	—	$	10,006	$	—

U.S. equity securities	2,007		2,007		—		—
Total	$	12,013	$	2,007	$	10,006	$	—

During the fiscal year ended July 3, 2020, the Company received gross proceeds and recorded a gain on a cost-method investment of $4,310 and $3,810, respectively. The Company's cost-method investment did not have a readily determinable fair value and was recorded at cost within Other non-current assets in the Consolidated Balance Sheet prior to its sale.

The Company also recorded a gain on the change in fair value of a cost-method investment of $2,007. The change in fair value of these U.S equity securities was the result of an observable price change during the fourth quarter of fiscal 2020. Its fair value is based on a quoted price of identical instruments in an active market and is included within Prepaid expenses and other current assets on the Consolidated Balance Sheet as of July 3, 2020.

The gain on investments were included within Other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income for the fiscal year ended July 3, 2020.

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at June 30, 2019:


	Fair Value Measurements
	June 30, 2019		Level 1		Level 2		Level 3
Assets:


Certificates of deposit	$	31,522	$	—	$	31,522	$	—


Total	$	31,522	$	—	$	31,522	$	—

The carrying values of cash and cash equivalents, including money market funds, restricted cash, accounts receivable and payable, and accrued liabilities approximate fair value due to the short-term maturities of these assets and liabilities. The Company terminated its interest rate swap during the fourth quarter of fiscal 2019 in conjunction with the net proceeds generated by the follow-on equity offering. As such, the Company had no interest rate swaps as of July 3, 2020 and June 30, 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventory

12 Months Ended

Jul. 03, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory was comprised of the following:


	As of
	July 3, 2020		June 30, 2019
Raw materials	$	111,225	$	84,561
Work in process	49,647		38,525
Finished goods	17,221		14,026
Total	$	178,093	$	137,112

The $40,981 increase in inventory was due to an increase in overall demand, especially for larger, more complex sub-assemblies and integrated sub-systems, a

Property and Equipment

12 Months Ended

Jul. 03, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


	Estimated Useful Lives (Years)	As of
						July 3, 2020	June 30, 2019
Computer equipment and software	3-4	$	85,705	$	78,195
Furniture and fixtures	5	5,993		5,330
Leasehold improvements	lesser of estimated useful life or lease term	36,874		25,646
Machinery and equipment	5-10	90,970		63,792

		219,542		172,963
Less: accumulated depreciation		(131,805)		(112,962)
		$	87,737	$	60,001

The $27,736 increase in property and equipment was primarily due to current year additions and property and equipment associated with improvements to the Company's facilities, including the expansion of its trusted custom microelectronics business and the acquisition of APC. These increases were partially offset by depreciation expense. During fiscal 2020 and 2019, the Company retired $64 and $3,980, respectively, of computer equipment and software, furniture, and fixtures, leasehold improvements, and machinery and equipment that were no longer in use by the Company.

Depreciation expense related to property and equipment for the fiscal years ended July 3, 2020, June 30, 2019 and 2018 was $18,770, $18,478 and $16,273, respectively.

Goodwill

12 Months Ended

Jul. 03, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table sets forth the changes in the carrying amount of goodwill by reporting unit for the year ended July 3, 2020:


	Total
Balance at June 30, 2019	$	562,146

Goodwill adjustment for the Germane acquisition	447
Goodwill adjustment for the GECO acquisition	(200)
Goodwill adjustment for the Athena acquisition	(993)
Goodwill arising from the APC acquisition	52,676
Balance at July 3, 2020	$	614,076

As defined by ASC 350, goodwill is tested for impairment on an interim basis at the occurrence of certain triggering events or at a minimum on an annual basis. In fiscal 2020, there were no triggering events, which required an interim goodwill impairment test. The Company performed its annual goodwill impairment test in the fourth quarter of fiscal 2020 with no impairment noted.

Intangible Assets

12 Months Ended

Jul. 03, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life
July 3, 2020
Customer relationships	$	181,960	$	(48,450)	$	133,510	11.4 years
Licensing agreements and patents	1,505		(1,404)		101		3.5 years
Completed technologies	107,992		(34,522)		73,470		9.2 years
Backlog	3,200		(1,533)		1,667		2.0 years
	$	294,657	$	(85,909)	$	208,748
June 30, 2019
Customer relationships	$	167,460	$	(38,308)	$	129,152	11.4 years
Licensing agreements and patents	1,505		(1,022)		483		3.5 years
Completed technologies	97,592		(22,246)		75,346		9.0 years
Backlog	1,610		(467)		1,143		1.6 years
	$	268,167	$	(62,043)	$	206,124

Estimated future amortization expense for intangible assets remaining at July 3, 2020 is as follows:


Fiscal Year	Totals
2021	$	30,326
2022	29,114
2023	26,857
2024	23,614
2025	22,034
Thereafter	76,803
Total future amortization expense	$	208,748

Restructuring Plan

12 Months Ended

Jul. 03, 2020

Restructuring and Related Activities [Abstract]

Restructuring Plan

Restructuring

Restructuring and other charges are typically related to acquisitions and organizational redesign programs initiated as part of discrete post-acquisition integration activities. During fiscal 2020, the Company incurred $1,805 of net restructuring and other charges primarily related to severance costs associated with the elimination of 20 positions, predominantly in SG&A and R&D functions.

During fiscal 2019, the Company incurred $560 of net restructuring and other charges primarily related to severance costs associated with the acquired Germane business.

During fiscal 2018, the Company incurred $3,159 related to the elimination of 38 positions predominantly in R&D and operations functions as well as executive severance.

All of the restructuring and other charges are classified as operating expenses in the Consolidated Statements of Operations and Comprehensive Income and any remaining severance obligations are expected to be paid within the next twelve months. The remaining restructuring liability is classified as accrued expenses in the Consolidated Balance Sheets.

The following table presents the detail of expenses for the Company’s restructuring plans:


	Severance & Related		Facilities & Other		Total





Restructuring liability at June 30, 2018	$	1,801	$	—	$	1,801
Restructuring charges	549		80		629

Cash paid	(2,333)		(24)		(2,357)

Reversals (*)	(13)		(56)		(69)
Restructuring liability at June 30, 2019	4		—		4
Restructuring charges	1,730		75		1,805
Cash paid	(1,137)		(75)		(1,212)


Restructuring liability at July 3, 2020	$	597	$	—	$	597

(*) Reversals result from the unused outplacement services and operating costs.

Income Taxes

12 Months Ended

Jul. 03, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The components of income before income taxes and income tax expense were as follows:


	Fiscal Years
	2020		2019		2018
Income before income taxes:
United States	$	93,388	$	57,281	$	43,368
Foreign	545		2,246		(795)
	$	93,933	$	59,527	$	42,573
Tax provision (benefit):
Federal:
Current	$	8,442	$	11,454	$	4,470
Deferred	(1,077)		(3,008)		(4,527)
	7,365		8,446		(57)
State:
Current	3,407		5,194		2,370
Deferred	(2,327)		(1,421)		(537)
	1,080		3,773		1,833
Foreign:
Current	475		546		186
Deferred	(699)		(13)		(272)
	(224)		533		(86)
	$	8,221	$	12,752	$	1,690

The following is the reconciliation between the statutory Federal income tax rate and the Company’s effective income tax rate:


	Fiscal Years
	2020		2019		2018
Tax provision at federal statutory rates	21.0	%	21.0	%	28.0	%
State income tax, net of federal tax benefit	6.1		5.9		5.6
Research and development tax credits	(11.9)		(4.5)		(5.1)
Provision to return	(3.1)		—		—
Excess tax benefits related to stock compensation	(7.7)		(4.5)		(18.5)
Domestic manufacturing deduction	—		—		(2.0)

Deemed repatriation of foreign earnings	—		—		1.9
Foreign income tax rate differential	0.1		0.1		0.3
Non-deductible compensation	2.6		2.0		1.7



Acquisition costs	—		0.1		1.4
Reserves for unrecognized income tax benefits	3.0		0.3		0.3
Tax rate changes	(0.5)		—		(2.3)
Impacts related to acquired tax attributes	—		—		(8.7)

Other	(0.8)		1.0		1.4
	8.8	%	21.4	%	4.0	%

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was enacted by the U.S. government. The Tax Act impacted the U.S. corporate tax rate that the Company will use going forward, which has been reduced to 21% from 35%. As the Company has a June 30 fiscal year-end, the lower U.S. corporate tax rate was phased in, resulting in a U.S. corporate tax rate of approximately 28% for the Company's fiscal year ended June 30, 2018, and 21% for fiscal year ended June 30, 2019 and subsequent fiscal years.

The Tax Act also includes provisions that increase the Company’s tax expense including, but not limited to, the elimination of the domestic manufacturing deduction and increased limitations on deductions for executive compensation. In

addition, the effective tax rate may be materially different than the statutory Federal tax rate due to state taxes, Federal research and development tax credits, excess tax benefits related to stock compensation, reserves for unrecognized income tax benefits, and other book to tax permanent differences.

The effective tax rate for fiscal 2020 and 2019 differed from the Federal statutory rate primarily due to benefits related to research and development tax credits and excess tax benefits related to stock compensation, partially offset by additional tax expense related to state taxes and non-deductible compensation. During fiscal 2020 and 2019, the Company recognized a tax benefit of $7,259 and $2,672 related to excess tax benefits on stock compensation, respectively. The Company also recognized a tax benefit of $6,325 and a tax reserve of $2,240, related to research and development tax credits claimed on prior year federal and state tax returns and other favorable provision to return adjustments of $2,917.

The components of the Company’s net deferred tax liabilities were as follows:


	As of
	July 3, 2020		June 30, 2019
Deferred tax assets:
Inventory valuation and receivable allowances	$	12,066	$	10,313
Accrued compensation	5,941		4,644
Stock compensation	5,062		4,595
Federal and state tax credit carryforwards	11,782		15,510

Other accruals	1,086		1,128
Deferred compensation	930		1,561

Acquired net operating loss carryforward	425		721
Operating lease liabilities	20,035		—
Capital loss carryforwards	—		2,354
Other	1,876		2,258
	59,203		43,084
Valuation allowance	(11,264)		(16,666)
Total deferred tax assets	47,939		26,418
Deferred tax liabilities:
Prepaid expenses	(1,111)		(848)
Property and equipment	(10,668)		(4,927)
Intangible assets	(33,007)		(38,399)
Operating lease right-of-use assets	(16,426)		—
Other	(616)		(58)
Total deferred tax liabilities	(61,828)		(44,232)
Net deferred tax liabilities	$	(13,889)	$	(17,814)

As reported:


Deferred tax liabilities	$	(13,889)	$	(17,814)
	$	(13,889)	$	(17,814)

At July 3, 2020, the Company evaluated the need for a valuation allowance on deferred tax assets. In assessing whether the deferred tax assets are realizable, management considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the Company's past and recent operating performance and results, future taxable income including the reversal of existing deferred tax liabilities, and tax planning strategies. The Company continues to conclude that its deferred tax assets are more likely than not to be realized with the exception of certain state research and development tax credits, which management continues to believe that it is not more likely than not to be realized. The change in valuation allowance is primarily related to the expiration of capital loss carryforwards that had a full valuation allowance. Any future changes in the valuation allowance will impact income tax expense.

The Company has state research and development tax credit carryforwards of $14,884, which will expire starting in fiscal year 2021 through fiscal year 2034.

The Company is subject to taxation in the U.S. (Federal and state) and various foreign jurisdictions that it operates in. The Company has established reserves to provide for additional income taxes that management believes will more likely than not be due in future years as these previously filed tax returns are audited. These reserves have been established based upon management’s assessment as to the potential exposures. All tax reserves are analyzed quarterly and adjustments are made as events occur and warrant modification.

During the period ended July 3, 2020, the Company filed amended Federal and state tax returns primarily relating to the research and development tax credits. As part of the study, the Company adjusted the reserve previously recorded on the research and development tax credits claimed.

The changes in the Company’s reserves for unrecognized income tax benefits are summarized as follows:


	Fiscal Years
	2020		2019
Unrecognized tax benefits, beginning of period	$	1,273	$	998
Increases for tax positions taken related to a prior period	2,146		—
Increases for tax positions taken during the current period	854		275
Decreases for tax positions taken related to a prior period	—		—
Decreases for tax positions taken during current period	—		—
Decreases for settlements of previously recognized positions	—		—
Decreases as a result of a lapse of the applicable statute of limitations	(156)		—


Unrecognized tax benefits, end of period	$	4,117	$	1,273

The $4,117 of unrecognized tax benefits as of July 3, 2020, if released, would reduce income tax expense. The Company increased its unrecognized income tax benefits primarily due to additional research and development tax credits claimed on prior year Federal and state returns.

The Company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes. The total amount of gross interest and penalties accrued was $175 and $84 as of July 3, 2020 and June 30, 2019, respectively, and the amount of interest and penalties recognized in fiscal 2020, 2019 and 2018 was $91, $101 and $42, respectively.

The Company’s major tax jurisdiction is the U.S. (Federal and state) and the open tax years are fiscal 2016 through 2020.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jul. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies LEGAL CLAIMS The Company is subject to litigation, claims, investigations and audits arising from time to time in the ordinary course of business. Although legal proceedings are inherently unpredictable, the Company believes that it has valid defenses with respect to any matters currently pending against the Company and intends to defend itself vigorously. The outcome of these matters, individually and in the aggregate, is not expected to have a material impact on the Company's cash flows, results of operations, or financial position. INDEMNIFICATION OBLIGATIONS The Company's standard product sales and license agreements entered into in the ordinary course of business typically contain an indemnification provision pursuant to which the Company indemnifies, holds harmless, and agrees to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with any patent, copyright or other intellectual property infringement claim by any third party with respect to the Company's products. Such provisions generally survive termination or expiration of the agreements. The potential amount of future payments the Company could be required to make under these indemnification provisions is, in some instances, unlimited. PURCHASE COMMITMENTS As of July 3, 2020, the Company has entered into non-cancelable purchase commitments for certain inventory components and services used in its normal operations. The purchase commitments covered by these agreements are for less than one year and aggregate to $103,548. OTHER As part of the Company's strategy for growth, the Company continues to explore acquisitions or strategic alliances. The associated acquisition costs incurred in the form of professional fees and services may be material to the future periods in which they occur, regardless of whether the acquisition is ultimately completed. The Company may elect from time to time to purchase and subsequently retire shares of common stock in order to settle an individual employees’ tax liability associated with vesting of a restricted stock award or exercise of stock options. These transactions would be treated as a use of cash in financing activities in the Company's Statements of Cash Flows.

Debt	12 Months Ended
Debt	Jul. 03, 2020
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facilities On September 28, 2018, the Company amended its Credit Agreement (the “Credit Agreement”) with a syndicate of commercial banks to increase and extend the borrowing capacity of the Revolver to a $750,000, 5-year revolving credit line, with the maturity extended to September 28, 2023 (the “Amended Credit Agreement”). The Company evaluated the Amended Credit Agreement under ASC 470, Debt, and determined that the amendment represented a modification of the Credit Agreement. Due to the increase in the borrowing capacity of the Revolver, new costs associated with the amendment and the previous balance of unamortized deferred financing costs totaling $4,369, are being amortized to Other income (expense), net on a straight line basis over the new term of the Revolver. As of July 3, 2020, there were no outstanding borrowings against the Revolver. The Company incurred interest expense from the Revolver of $1,006 and $9,109 for the fiscal years ended July 3, 2020 and June 30, 2019, respectively. There were also outstanding letters of credit of $904 as of July 3, 2020. Maturity The Revolver has a five year maturity, which was extended to September 28, 2023. Interest Rates and Fees Borrowings under the Revolver bear interest, at the Company’s option, at floating rates tied to LIBOR or the prime rate plus an applicable percentage. The applicable percentage is set at LIBOR plus a markup pursuant to a pricing grid based on the Company's total net leverage ratio. As of July 3, 2020, the applicable percentage was set at LIBOR plus 1.125% based on the Company's total net leverage ratio. In addition to interest on the aggregate outstanding principal amounts of any borrowings, the Company will also pay a quarterly commitment fee on the unutilized commitments under the Revolver. The applicable percentage is pursuant to a pricing grid based on the Company's total net leverage ratio. As of July 3, 2020, the stated interest rate for unutilized commitments was 0.20% per annum. The Company will also pay customary letter of credit and agency fees. Covenants and Events of Default The Revolver provides for customary negative covenants. The Revolver also requires the Company to comply with certain financial covenants, including a quarterly minimum consolidated cash interest charge ratio test and a quarterly maximum consolidated total net leverage ratio test. The Revolver also provides for customary representations and warranties, affirmative covenants and events of default. If an event of default occurs, the lenders under the Revolver will be entitled to take various actions, including the termination of unutilized commitments, the acceleration of amounts outstanding under the Revolver and all actions permitted to be taken by a secured creditor. As of July 3, 2020, the Company was in compliance with all covenants and conditions under the Revolver. Guarantees and Security The Company's obligations under the Revolver are guaranteed by certain of its material domestic wholly-owned restricted subsidiaries (the “Guarantors”). The obligations of both the Company and the Guarantors are secured by a perfected security interest in substantially all of the assets of the Company and the Guarantors, in each case, now owned or later acquired, including a pledge of all of the capital stock of substantially all of its domestic wholly-owned restricted subsidiaries and 65% of the capital stock of certain of its foreign restricted subsidiaries, subject in each case to the exclusion of certain assets and additional exceptions.

Employee Benefit Plans

12 Months Ended

Jul. 03, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

Pension Plan

The Company maintains a pension plan (the “Plan”) for its Swiss employees, which is administered by an independent pension fund. The Plan is mandated by Swiss law and meets the criteria for a defined benefit plan under ASC 715, Compensation—Retirement Benefits (“ASC 715”), since participants of the Plan are entitled to a defined rate of return on contributions made. The independent pension fund is a multi-employer plan with unrestricted joint liability for all participating companies for which the Plan’s overfunding or underfunding is allocated to each participating company based on an allocation key determined by the Plan.

The Company recognizes a net asset or liability for the Plan equal to the difference between the projected benefit obligation of the Plan and the fair value of the Plan’s assets as required by ASC 715. The funded status may vary from year to year due to changes in the fair value of the Plan’s assets and variations on the underlying assumptions of the projected benefit obligation of the Plan.

On January 1, 2019, the independent pension fund changed the conversion rate for accumulated retirement savings. The Company’s results contain the effects of this change in conversion rates by the independent pension fund as prior service costs. These prior service costs are amortized from AOCI to net periodic benefit costs over approximately 10 years.

At July 3, 2020, the accumulated benefit obligation of the Plan equals the fair value of the Plan's assets. The Plan's funded status at July 3, 2020 and 2019 was a net liability of $11,877 and $9,186, respectively, which is recorded in other non-current liabilities on the Consolidated Balance Sheets. The Company recorded a net loss of $1,768 and $2,350 in AOCI during the fiscal years ended July 3, 2020 and June 30, 2019, respectively. Total employer contributions to the Plan were $911 during the year ended July 3, 2020, and the Company's total expected employer contributions to the Plan during fiscal 2021 are $957.

The following table reflects the total pension benefits expected to be paid from the Plan, which is funded from contributions by participants and the Company.


Fiscal Year	Total
2021	$	900
2022	1,059
2023	1,401
2024	1,253
2025	1,040
Thereafter (next 5 years)	6,423
Total	$	12,076

The following table outlines the components of net periodic benefit cost of the Plan for the fiscal years ended July 3, 2020 and June 30, 2019:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Service cost	$	1,375	$	903
Interest cost	125		156
Expected return on assets	(233)		(183)
Amortization of prior service cost	(63)		(61)
Amortization net of loss	33		—
Net periodic benefit cost	$	1,237	$	815

The following table reflects the related actuarial assumptions used to determine net periodic benefit cost of the Plan for the fiscal years ended July 3, 2020 and June 30, 2019:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Discount rate	0.30	%	0.50	%
Expected rate of return on Plan assets	1.50	%	1.50	%
Expected inflation	1.20	%	1.20	%
Rate of compensation increases	1.50	%	1.50	%

The calculation of the projected benefit obligation (“PBO”) utilized BVG 2015 Generational data for assumptions related to the mortality rates, disability rates, turnover rates, and early retirement ages.

The PBO represents the present value of Plan benefits earned through the end of the year, with an allowance for future salary and pension increases as well as turnover rates. The following table presents the change in projected benefit obligation for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Projected benefit obligation, beginning	$	24,274	$	18,127
Service cost	1,375		903
Interest cost	125		156

Employee contributions	1,916		3,577
Actuarial loss	2,387		2,859
Benefits paid	(906)		(1,607)

Foreign exchange loss	784		259
Projected benefit obligation at end of year	$	29,955	$	24,274

The following table presents the change in Plan assets for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Fair value of Plan assets, beginning	$	15,088	$	12,029
Actual return on Plan assets	582		167
Company contributions	911		741

Employee contributions	1,916		3,577
Benefits paid	(906)		(1,607)
Foreign exchange gain	487		181
Fair value of Plan assets at end of year	$	18,078	$	15,088

The following table presents the Company's reconciliation of funded status for the period presented:


	As of
	July 3, 2020		June 30, 2019
Projected benefit obligation at end of year	$	29,955	$	24,274
Fair value of plan assets at end of year	18,078		15,088
Funded status	$	(11,877)	$	(9,186)

The fair value of Plan assets were $18,078 at July 3, 2020. The Plan is denominated in a foreign currency, the Swiss Franc, which can have an impact on the fair value of Plan assets. The Plan was not subject to material fluctuations during the years ended July 3, 2020 or June 30, 2019. The Plan’s assets are administered by an independent pension fund foundation (the “foundation”). As of July 3, 2020, the foundation has invested the assets of the Plan in various investments vehicles, including cash, real estate, equity securities, and bonds. The investments are measured at fair value using a mix of Level 1, Level 2 and Level 3 inputs.

401(k) Plan

The Company maintains a qualified 401(k) plan (the “401(k) Plan”) for its U.S. employees. During fiscal years 2020, 2019 and 2018, the Company matched employee contributions up to 3% of eligible compensation. The Company may also make optional contributions to the plan for any plan year at its discretion. Expense recognized by the Company for matching contributions related to the 401(k) plan was $5,954, $4,525 and $3,684 during the fiscal years ended July 3, 2020, June 30, 2019, and 2018, respectively.

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Jul. 03, 2020
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity PREFERRED STOCK The Company is authorized to issue 1,000 shares of preferred stock with a par value of $0.01 per share. SHELF REGISTRATION STATEMENT On August 28, 2017, the Company filed a shelf registration statement on Form S-3ASR with the SEC. The shelf registration statement, which was effective upon filing with the SEC, registered each of the following securities: debt securities, preferred stock, common stock, warrants and units. The Company has an unlimited amount available under the shelf registration statement. Additionally, as part of the shelf registration statement, the Company has entered into an equity distribution agreement, which allows the Company to sell an aggregate of up to $200,000 of its common stock from time to time through its agents. FOLLOW-ON EQUITY OFFERING On May 20, 2019 the Company announced the commencement of an underwritten public offering of 5,000 shares of its common stock, par value $0.01, with an over-allotment allocation of an additional 750 shares. On May 23, 2019, the Company announced it upsized the initial 5,000 share public offering to 6,000 shares, with an over-allotment allocation of 900 shares. On May 31, 2019 the Company closed the offering, including the full over-allotment allocation, selling an aggregate of 6,900 shares of common stock at a price to the public of $69.00 for total net proceeds of $454,343.

Stock-Based Compensation

12 Months Ended

Jul. 03, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK INCENTIVE PLANS

The Board of Directors approved the Company’s 2018 Stock Incentive Plan (the “2018 Plan”) on July 23, 2018. The 2018 Plan became effective upon the approval of shareholders at the Company’s annual meeting held on October 24, 2018. The aggregate number of shares authorized for issuance under the 2018 Plan is 2,862 shares, with an additional 710 shares rolled into the 2018 Plan that were available for future grant under the Company’s 2005 Stock Incentive Plan, as amended and restated (the “2005 Plan”) at the time of shareholder approval of the 2018 Plan. The 2018 Plan replaced the 2005 Plan. On November 6, 2019, an additional 184 shares from the 2005 Plan were rolled into the 2018 Plan as a result of forfeiture, cancellation, or termination (other than by exercise) of previously-made grants under the 2005 Plan. The shares authorized for issuance under the 2018 Plan will continue to be increased by any future cancellations, forfeitures or terminations (other than by exercise) of awards under the 2005 Plan. The foregoing does not affect any outstanding awards under the 2005 Plan, which remain in full force and effect in accordance with their terms. The 2018 Plan provides for the grant of non-qualified and incentive stock options, restricted stock, stock appreciation rights and deferred stock awards to employees and non-employees. All stock options are granted with an exercise price of not less than 100% of the fair value of the Company’s common stock at the date of grant and the options generally have a term of seven years. There were 2,632 shares available for future grant under the 2018 Plan at July 3, 2020.

As part of the Company's ongoing annual equity grant program for employees, the Company grants performance-based restricted stock awards to certain executives and employees pursuant to the 2018 Plan. Performance awards vest based on the requisite service period subject to the achievement of specific financial performance targets. Based on the performance targets, some of these awards require graded vesting which results in more rapid expense recognition compared to traditional time-based vesting over the same vesting period. The Company monitors the probability of achieving the performance targets on a quarterly basis and may adjust periodic stock compensation expense accordingly based on its determination of the likelihood for reaching targets. The performance targets generally include the achievement of internal performance targets in relation to a peer group of companies.

EMPLOYEE STOCK PURCHASE PLAN

The number of shares authorized for issuance under the Company’s 1997 Employee Stock Purchase Plan, as amended and restated (“ESPP”), is 1,800 shares. Under the ESPP, rights are granted to purchase shares of common stock at 85% of the lesser of the market value of such shares at either the beginning or the end of each six-month offering period. The ESPP permits employees to purchase common stock through payroll deductions, which may not exceed 10% of an employee’s compensation as defined in the ESPP. The number of shares issued under the ESPP during fiscal years 2020, 2019, and 2018 was 89, 102 and 82, respectively. Shares available for future purchase under the ESPP totaled 29 at July 3, 2020.

STOCK OPTION AND AWARD ACTIVITY

The following table summarizes activity of the Company’s stock option plans since June 30, 2018:


	Options Outstanding
	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value as of 7/3/2020








Outstanding at June 30, 2018	4	$	5.52	3.13
Granted	—	—
Exercised	—	—
Cancelled	—	—
Outstanding at June 30, 2019	4	$	5.52	2.13
Granted	—	$	—
Exercised	(1)	$	5.52
Cancelled	—	$	—
Outstanding at July 3, 2020	3	$	5.52	1.12	$	208
Vested and expected to vest at July 3, 2020	3	$	5.52	1.12	$	208
Exercisable at July 3, 2020	3	$	5.52	1.12	$	208

The intrinsic value of the options exercised during fiscal years 2020, and 2018 was $67 and $1,780, respectively. There were no options exercised during fiscal 2019. Non-vested stock options are subject to the risk of forfeiture until the fulfillment of specified conditions. As of July 3, 2020, June 30, 2019 and 2018, there was no unrecognized compensation cost related to non-vested options granted under the Company’s stock plans. There were no stock options granted during fiscal years 2020, 2019 or 2018.

The following table summarizes the status of the Company’s non-vested restricted stock awards since June 30, 2018:


	Non-Vested Restricted Stock Awards
	Number of Shares	Weighted Average Grant Date Fair Value








Outstanding at June 30, 2018	1,135	$	27.26
Granted	468	52.50
Vested	(478)	51.50
Forfeited	(79)	36.97
Outstanding at June 30, 2019	1,046	$	39.62
Granted	522	80.87
Vested	(562)	31.40
Forfeited	(49)	54.96
Outstanding at July 3, 2020	957	$	61.59

The total fair value of restricted stock awards vested during fiscal years 2020, 2019, and 2018 was $46,089, $24,596 and $38,344, respectively.

Non-vested restricted stock awards are subject to the risk of forfeiture until the fulfillment of specified conditions. As of July 3, 2020, there was $44,690 of total unrecognized compensation cost related to non-vested restricted stock awards granted under the Company’s stock plans that is expected to be recognized over a weighted-average period of 2.4 years from July 3, 2020. As of June 30, 2019, there was $32,886 of total unrecognized compensation cost related to non-vested restricted stock awards granted under the Company’s stock plans that is expected to be recognized over a weighted-average period of 2.5 years from June 30, 2019.

STOCK-BASED COMPENSATION EXPENSE

The Company recognizes expense for its share-based payment plans in the Consolidated Statements of Operations and Comprehensive Income in accordance with ASC 718. The Company had $562 and $241 of capitalized stock-based compensation expense on the Consolidated Balance Sheets as of July 3, 2020 and June 30, 2019, respectively. Under the fair value recognition provisions of ASC 718, stock-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense over the service period. The following table presents share-based compensation expenses from continuing operations included in the Company’s Consolidated Statements of Operations and Comprehensive Income:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Cost of revenues	$	989	$	820	$	502
Selling, general and administrative	21,688		16,188		14,828
Research and development	3,861		2,414		1,984
Stock-based compensation expense before tax	26,538		19,422		17,314
Income taxes	(6,900)		(5,263)		(5,713)
Stock-based compensation expense, net of income taxes	$	19,638	$	14,159	$	11,601

Operating Segment, Geographic Information and Significant Customers

12 Months Ended

Jul. 03, 2020

Segment Reporting [Abstract]

Operating Segment, Geographic Information and Significant Customers

Operating segments are defined as components of an enterprise evaluated regularly by the Company's chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company is comprised of one operating and reportable segment. The Company utilized the management approach for determining its operating segment in accordance with ASC 280, Segment Reporting.

The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:


	U.S.		Europe		Asia Pacific		Eliminations		Total
YEAR ENDED JULY 3, 2020
Net revenues to unaffiliated customers	$	744,270	$	50,092	$	2,248	$	—	$	796,610
Inter-geographic revenues	4,938		3,067		—		(8,005)		—
Net revenues	$	749,208	$	53,159	$	2,248	$	(8,005)	$	796,610
Identifiable long-lived assets (1)	$	82,588	$	5,144	$	5	$	—	$	87,737
YEAR ENDED JUNE 30, 2019
Net revenues to unaffiliated customers	$	599,422	$	49,332	$	5,990	$	—	$	654,744
Inter-geographic revenues	10,570		1,343		—		(11,913)		—
Net revenues	$	609,992	$	50,675	$	5,990	$	(11,913)	$	654,744
Identifiable long-lived assets (1)	$	54,952	$	5,037	$	12	$	—	$	60,001
YEAR ENDED JUNE 30, 2018
Net revenues to unaffiliated customers	$	450,218	$	35,000	$	7,966	$	—	$	493,184
Inter-geographic revenues	10,650		925		—		(11,575)		—
Net revenues	$	460,868	$	35,925	$	7,966	$	(11,575)	$	493,184
Identifiable long-lived assets (1)	$	47,997	$	2,974	$	9	$	—	$	50,980

(1) Identifiable long-lived assets exclude ROU assets, goodwill, and intangible assets.

In recent years, the Company completed a series of acquisitions that changed its technological capabilities, applications and end markets. As these acquisitions and changes occurred, the Company increased the proportion of its revenue derived from the sale of components in different technological areas, and also increased the amount of revenue associated with combining technologies into more complex and diverse products including modules, sub-assemblies and integrated subsystems. The following tables present revenue consistent with the Company's strategy of expanding its technological capabilities and program content. As additional information related to the Company’s products by end user, application and/or product grouping is attained, the categorization of these products can vary over time. When this occurs, the Company reclassifies revenue by end user, application and/or product grouping for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each revenue category.

The following table presents the Company's net revenue by end market for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Domestic (1)	$	704,722	$	580,935	$	410,050
International/Foreign Military Sales (2)	91,888		73,809		83,134
Total Net Revenue	$	796,610	$	654,744	$	493,184

(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined.

(2) International/Foreign Military Sales consist of sales to U.S. prime defense contractor customers where the end user is outside the U.S., foreign military sales through the U.S. government, and direct sales to non-U.S. based customers intended for end use outside of the U.S.

The following table presents the Company's net revenue by end application for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Radar (1)	$	233,967	$	164,046	$	159,737
Electronic Warfare (2)	161,782		128,841		114,801
Other Sensor and Effector (3)	105,175		90,245		48,088
Total Sensor and Effector	500,924		383,132		322,626
C4I (4)	207,000		183,172		87,414
Other (5)	88,686		88,440		83,144
Total Net Revenues	$	796,610	$	654,744	$	493,184

(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track, and identify objects.

(2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum.

(3) Other Sensor and Effector products include all Sensor and Effector end markets other than Radar and Electronic Warfare.

(4) C4I includes rugged secure rackmount servers that are designed to drive the most powerful military processing applications.

(5) Other products include all component and other sales where the end use is not specified.

The following table presents the Company's net revenue by product grouping for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Components (1)	$	225,292	$	184,870	$	142,982
Modules and Sub-assemblies (2)	203,432		180,873		194,377
Integrated Subsystems (3)	367,886		289,001		155,825
Total Net Revenues	$	796,610	$	654,744	$	493,184

(1) Components include technology elements typically performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly. Examples include but are not limited to power amplifiers and limiters, switches, oscillators, filters, equalizers, digital and analog converters, chips, MMICs (monolithic microwave integrated circuits), and memory and storage devices.

(2) Modules and Sub-assemblies include combinations of multiple functional technology elements and/or components that work together to perform multiple functions but are typically resident on or within a single board or housing. Modules and sub-assemblies may in turn be combined to form an integrated subsystem. Examples of modules and sub-assemblies include but are not limited to embedded processing modules, embedded processing boards, switch fabric boards, high speed input/output boards, digital receiver boards, graphics and video processing and Ethernet and IO (input-output) boards, multi-chip modules, integrated radio frequency and microwave multi-function assemblies, tuners, and transceivers.

(3) Integrated Subsystems include multiple modules and/or sub-assemblies combined with a backplane or similar functional element and software to enable a solution. These are typically but not always integrated within a chassis and with cooling, power and other elements to address various requirements and are also often combined with additional technologies for interaction with other parts of a complete system or platform. Integrated subsystems also include spare and replacement modules and sub-assemblies sold as part of the same program for use in or with integrated subsystems sold by the Company.

The following table presents the Company's net revenue by platform for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Airborne (1)	$	402,670	$	306,412	$	242,611
Land (2)	102,956		83,034		41,841
Naval (3)	157,225		136,966		110,620
Other (4)	133,759		128,332		98,112
Total Net Revenues	$	796,610	$	654,744	$	493,184

(1) Airborne platform includes products that relate to personnel, equipment, or pieces of equipment designed for airborne applications

(2) Land platform includes products that relate to fixed or mobile equipment, or pieces of equipment for personnel, weapon systems, vehicles and support elements operating on land

(3) Naval platform includes products that relate to personnel, equipment, or pieces of equipment designed for naval operations

(4) All platforms other than Airborne, Land or Naval.

Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Raytheon Technologies	16	%	20	%	19	%
Lockheed Martin Corporation	16	%	17	%	19	%
	32	%	37	%	38	%

While the Company typically has customers from which it derives 10% or more of its revenue, the sales to each of these customers are spread across multiple programs and platforms. There were no programs comprising 10% or more of the Company's revenues for the years ended July 3, 2020, June 30, 2019 and 2018.

Subsequent Events	12 Months Ended
Subsequent Events	Jul. 03, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated subsequent events from the date of the Consolidated Balance Sheet through the date the consolidated financial statements were issued.

Supplementary Information (Unaudited)

12 Months Ended

Jul. 03, 2020

Quarterly Financial Information Disclosure [Abstract]

Supplementary Information (Unaudited)

SUPPLEMENTARY INFORMATION (UNAUDITED)

The following sets forth certain unaudited consolidated quarterly statements of operations data for each of the Company’s last eight quarters. In management’s opinion, this quarterly information reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation for the periods presented. Such quarterly results are not necessarily indicative of future results of operations and should be read in conjunction with the audited consolidated financial statements of the Company and the notes thereto.


2020 (In thousands, except per share data)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Net revenues	$	177,304	$	193,913	$	208,016	$	217,377
Gross margin	$	78,400	$	88,506	$	93,325	$	96,613
Income from operations	$	17,476	$	20,825	$	26,342	$	26,419
Income before income taxes	$	17,229	$	20,786	$	28,928	$	26,990
Income tax (benefit) provision	$	(2,018)	$	5,110	$	5,363	$	(234)


Net income	$	19,247	$	15,676	$	23,565	$	27,224
Net income per share:
Basic net income per share	$	0.35	$	0.29	$	0.43	$	0.50



Diluted net income per share	$	0.35	$	0.29	$	0.43	$	0.49




2019 (In thousands, except per share data)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Net revenues	$	144,056	$	159,089	$	174,636	$	176,963
Gross margin	$	61,583	$	70,887	$	73,847	$	79,839
Income from operations	$	13,810	$	19,861	$	22,062	$	20,851
Income before income taxes	$	10,608	$	16,866	$	19,466	$	12,587
Income tax provision (benefit)	$	3,129	$	4,483	$	5,357	$	(217)


Net income	$	7,479	$	12,383	$	14,109	$	12,804
Net income per share:
Basic net income per share	$	0.16	$	0.26	$	0.30	$	0.26



Diluted net income per share	$	0.16	$	0.26	$	0.29	$	0.25

Due to the effects of rounding, the sum of the four quarters does not equal the annual total.

Statement of Financial Position, Classified (Policies)	12 Months Ended
Statement of Financial Position, Classified (Policies)	Jul. 03, 2020
Statement of Financial Position [Abstract]
Lessee, Leases	LEASES Effective July 1, 2019, the Company adopted ASC 842, Leases, (“ASC 842”), which requires lessees to recognize a right-of-use (“ROU”) asset and lease liability for most lease arrangements. The Company has adopted ASC 842 using the optional transition method and, as a result, there have been no reclassifications of prior comparable periods due to this adoption. The Company has arrangements involving the lease of facilities, machinery and equipment. Under ASC 842, at inception of the arrangement, the Company determines whether the contract is or contains a lease and whether the lease should be classified as an operating or a financing lease. This determination, among other considerations, involves an assessment of whether the Company can control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. The Company recognizes ROU assets and lease liabilities as of the lease commencement date based on the net present value of the future minimum lease payments over the lease term. ASC 842 requires lessees to use the rate implicit in the lease unless it is not readily determinable and then it may use its incremental borrowing rate (“IBR”) to discount the future minimum lease payments. Most of the Company's lease arrangements do not provide an implicit rate; therefore, the Company uses its IBR to discount the future minimum lease payments. The Company determines its IBR with its credit rating and current economic information available as of the commencement date, as well as the identified lease term. During the assessment of the lease term, the Company considers its renewal options and extensions within the arrangements and the Company includes these options when it is reasonably certain to extend the term of the lease. The Company has lease arrangements with both lease and non-lease components. Consideration is allocated to lease and non-lease components based on estimated standalone prices. The Company has elected to exclude non-lease components from the calculation of its ROU assets and lease liabilities. In the Company's adoption of ASC 842, leases with an initial term of 12 months or less will not result in recognition of a ROU asset and a lease liability and will be expensed as incurred over the lease term. Leases of this nature were immaterial to the Company’s consolidated financial statements. The Company has lease arrangements that contain incentives for tenant improvements as well as fixed rent escalation clauses. For contracts with tenant improvement incentives that are determined to be a leasehold improvement that will be owned by the lessee and the Company is reasonably certain to exercise, it records a reduction to the lease liability and amortizes the incentive over the identified term of the lease as a reduction to rent expense. The Company records rental expense on a straight-line basis over the identified lease term on contracts with rent escalation clauses. Finance leases are not material to the Company's consolidated financial statements and the Company is not a lessor in any material lease arrangements. There are no material restrictions, covenants, sale and leaseback transactions, variable lease payments or residual value guarantees in the Company's lease arrangements. Operating leases are included in Operating lease right-of-use assets, Accrued expenses, and Operating lease liabilities in the Company's Consolidated Balance Sheets. The standard had no impact on the Company's Consolidated Statements of Operations and Comprehensive Income or Consolidated Statements of Cash Flows. See Note J to the consolidated financial statements for more information regarding the adoption of this standard.

Statement of Financial Position, Classified (Policies)	12 Months Ended
Statement of Financial Position, Classified (Policies)	Jul. 03, 2020
Statement of Financial Position [Abstract]
Pension and Other Postretirement Plans, Policy	The Company recognizes a net asset or liability for the Plan equal to the difference between the projected benefit obligation of the Plan and the fair value of the Plan’s assets as required by ASC 715. The funded status may vary from year to year due to changes in the fair value of the Plan’s assets and variations on the underlying assumptions of the projected benefit obligation of the Plan.

- Definition

Disclosure of accounting policy for pension and other postretirement benefit plans. This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived.

+ References + Details

Fair Value of Financial Instruments (Tables)

12 Months Ended

Jul. 03, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at July 3, 2020:


	Fair Value Measurements
	July 3, 2020		Level 1		Level 2		Level 3
Assets:

Certificates of deposit	$	10,006	$	—	$	10,006	$	—

U.S. equity securities	2,007		2,007		—		—
Total	$	12,013	$	2,007	$	10,006	$	—

The gain on investments were included within Other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income for the fiscal year ended July 3, 2020.

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at June 30, 2019:


	Fair Value Measurements
	June 30, 2019		Level 1		Level 2		Level 3
Assets:


Certificates of deposit	$	31,522	$	—	$	31,522	$	—


Total	$	31,522	$	—	$	31,522	$	—

Inventory (Tables)

12 Months Ended

Jul. 03, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory was comprised of the following:


	As of
	July 3, 2020		June 30, 2019
Raw materials	$	111,225	$	84,561
Work in process	49,647		38,525
Finished goods	17,221		14,026
Total	$	178,093	$	137,112

Property and Equipment (Tables)

12 Months Ended

Jul. 03, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


	Estimated Useful Lives (Years)	As of
						July 3, 2020	June 30, 2019
Computer equipment and software	3-4	$	85,705	$	78,195
Furniture and fixtures	5	5,993		5,330
Leasehold improvements	lesser of estimated useful life or lease term	36,874		25,646
Machinery and equipment	5-10	90,970		63,792

		219,542		172,963
Less: accumulated depreciation		(131,805)		(112,962)
		$	87,737	$	60,001

Goodwill (Tables)

12 Months Ended

Jul. 03, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The following table sets forth the changes in the carrying amount of goodwill by reporting unit for the year ended July 3, 2020:


	Total
Balance at June 30, 2019	$	562,146

Goodwill adjustment for the Germane acquisition	447
Goodwill adjustment for the GECO acquisition	(200)
Goodwill adjustment for the Athena acquisition	(993)
Goodwill arising from the APC acquisition	52,676
Balance at July 3, 2020	$	614,076

Intangible Assets (Tables)

12 Months Ended

Jul. 03, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets

Intangible assets consisted of the following:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life
July 3, 2020
Customer relationships	$	181,960	$	(48,450)	$	133,510	11.4 years
Licensing agreements and patents	1,505		(1,404)		101		3.5 years
Completed technologies	107,992		(34,522)		73,470		9.2 years
Backlog	3,200		(1,533)		1,667		2.0 years
	$	294,657	$	(85,909)	$	208,748
June 30, 2019
Customer relationships	$	167,460	$	(38,308)	$	129,152	11.4 years
Licensing agreements and patents	1,505		(1,022)		483		3.5 years
Completed technologies	97,592		(22,246)		75,346		9.0 years
Backlog	1,610		(467)		1,143		1.6 years
	$	268,167	$	(62,043)	$	206,124

Estimated Future Amortization Expense for Acquired Intangible Assets

Estimated future amortization expense for intangible assets remaining at July 3, 2020 is as follows:


Fiscal Year	Totals
2021	$	30,326
2022	29,114
2023	26,857
2024	23,614
2025	22,034
Thereafter	76,803
Total future amortization expense	$	208,748

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The following table summarizes the preliminary estimated fair value of acquired intangible assets arising as a result of the APC acquisition. These assets are included in the Company's gross and net carrying amounts as of July 3, 2020.


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life
Customer relationships	$	20,600	$	(1,405)	$	19,195	11.0 years
Completed technologies	10,400		(709)		9,691		11.0 years
Backlog	2,200		(825)		1,375		2.0 years
	$	33,200	$	(2,939)	$	30,261

Restructuring Plan (Tables)

12 Months Ended

Jul. 03, 2020

Restructuring and Related Activities [Abstract]

Expenses by Business Segment for Restructuring Plans

The following table presents the detail of expenses for the Company’s restructuring plans:


	Severance & Related		Facilities & Other		Total





Restructuring liability at June 30, 2018	$	1,801	$	—	$	1,801
Restructuring charges	549		80		629

Cash paid	(2,333)		(24)		(2,357)

Reversals (*)	(13)		(56)		(69)
Restructuring liability at June 30, 2019	4		—		4
Restructuring charges	1,730		75		1,805
Cash paid	(1,137)		(75)		(1,212)


Restructuring liability at July 3, 2020	$	597	$	—	$	597

(*) Reversals result from the unused outplacement services and operating costs.

Income Taxes (Tables)

12 Months Ended

Jul. 03, 2020

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes and Income Tax Expense (Benefit)

The components of income before income taxes and income tax expense were as follows:


	Fiscal Years
	2020		2019		2018
Income before income taxes:
United States	$	93,388	$	57,281	$	43,368
Foreign	545		2,246		(795)
	$	93,933	$	59,527	$	42,573
Tax provision (benefit):
Federal:
Current	$	8,442	$	11,454	$	4,470
Deferred	(1,077)		(3,008)		(4,527)
	7,365		8,446		(57)
State:
Current	3,407		5,194		2,370
Deferred	(2,327)		(1,421)		(537)
	1,080		3,773		1,833
Foreign:
Current	475		546		186
Deferred	(699)		(13)		(272)
	(224)		533		(86)
	$	8,221	$	12,752	$	1,690

Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate from Continuing Operations

The following is the reconciliation between the statutory Federal income tax rate and the Company’s effective income tax rate:


	Fiscal Years
	2020		2019		2018
Tax provision at federal statutory rates	21.0	%	21.0	%	28.0	%
State income tax, net of federal tax benefit	6.1		5.9		5.6
Research and development tax credits	(11.9)		(4.5)		(5.1)
Provision to return	(3.1)		—		—
Excess tax benefits related to stock compensation	(7.7)		(4.5)		(18.5)
Domestic manufacturing deduction	—		—		(2.0)

Deemed repatriation of foreign earnings	—		—		1.9
Foreign income tax rate differential	0.1		0.1		0.3
Non-deductible compensation	2.6		2.0		1.7



Acquisition costs	—		0.1		1.4
Reserves for unrecognized income tax benefits	3.0		0.3		0.3
Tax rate changes	(0.5)		—		(2.3)
Impacts related to acquired tax attributes	—		—		(8.7)

Other	(0.8)		1.0		1.4
	8.8	%	21.4	%	4.0	%

Components of Net Deferred Tax Assets (Liabilities)


	As of
	July 3, 2020		June 30, 2019
Deferred tax assets:
Inventory valuation and receivable allowances	$	12,066	$	10,313
Accrued compensation	5,941		4,644
Stock compensation	5,062		4,595
Federal and state tax credit carryforwards	11,782		15,510

Other accruals	1,086		1,128
Deferred compensation	930		1,561

Acquired net operating loss carryforward	425		721
Operating lease liabilities	20,035		—
Capital loss carryforwards	—		2,354
Other	1,876		2,258
	59,203		43,084
Valuation allowance	(11,264)		(16,666)
Total deferred tax assets	47,939		26,418
Deferred tax liabilities:
Prepaid expenses	(1,111)		(848)
Property and equipment	(10,668)		(4,927)
Intangible assets	(33,007)		(38,399)
Operating lease right-of-use assets	(16,426)		—
Other	(616)		(58)
Total deferred tax liabilities	(61,828)		(44,232)
Net deferred tax liabilities	$	(13,889)	$	(17,814)

As reported:


Deferred tax liabilities	$	(13,889)	$	(17,814)
	$	(13,889)	$	(17,814)

Summary of Reserves for Unrecognized Income Tax Benefits

The changes in the Company’s reserves for unrecognized income tax benefits are summarized as follows:


	Fiscal Years
	2020		2019
Unrecognized tax benefits, beginning of period	$	1,273	$	998
Increases for tax positions taken related to a prior period	2,146		—
Increases for tax positions taken during the current period	854		275
Decreases for tax positions taken related to a prior period	—		—
Decreases for tax positions taken during current period	—		—
Decreases for settlements of previously recognized positions	—		—
Decreases as a result of a lapse of the applicable statute of limitations	(156)		—


Unrecognized tax benefits, end of period	$	4,117	$	1,273

Stock-Based Compensation (Tables)

12 Months Ended

Jul. 03, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Plans

The following table summarizes activity of the Company’s stock option plans since June 30, 2018:


	Options Outstanding
	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value as of 7/3/2020








Outstanding at June 30, 2018	4	$	5.52	3.13
Granted	—	—
Exercised	—	—
Cancelled	—	—
Outstanding at June 30, 2019	4	$	5.52	2.13
Granted	—	$	—
Exercised	(1)	$	5.52
Cancelled	—	$	—
Outstanding at July 3, 2020	3	$	5.52	1.12	$	208
Vested and expected to vest at July 3, 2020	3	$	5.52	1.12	$	208
Exercisable at July 3, 2020	3	$	5.52	1.12	$	208

Summary of Nonvested Restricted Stock

The following table summarizes the status of the Company’s non-vested restricted stock awards since June 30, 2018:


	Non-Vested Restricted Stock Awards
	Number of Shares	Weighted Average Grant Date Fair Value








Outstanding at June 30, 2018	1,135	$	27.26
Granted	468	52.50
Vested	(478)	51.50
Forfeited	(79)	36.97
Outstanding at June 30, 2019	1,046	$	39.62
Granted	522	80.87
Vested	(562)	31.40
Forfeited	(49)	54.96
Outstanding at July 3, 2020	957	$	61.59

Stock Based Compensation Expenses

The following table presents share-based compensation expenses from continuing operations included in the Company’s Consolidated Statements of Operations and Comprehensive Income:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Cost of revenues	$	989	$	820	$	502
Selling, general and administrative	21,688		16,188		14,828
Research and development	3,861		2,414		1,984
Stock-based compensation expense before tax	26,538		19,422		17,314
Income taxes	(6,900)		(5,263)		(5,713)
Stock-based compensation expense, net of income taxes	$	19,638	$	14,159	$	11,601

Operating Segment, Geographic Information and Significant Customers (Tables)

12 Months Ended

Jul. 03, 2020

Segment Reporting [Abstract]

Geographic Distribution of Revenues and Long Lived Assets from Continuing Operations

The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:


	U.S.		Europe		Asia Pacific		Eliminations		Total
YEAR ENDED JULY 3, 2020
Net revenues to unaffiliated customers	$	744,270	$	50,092	$	2,248	$	—	$	796,610
Inter-geographic revenues	4,938		3,067		—		(8,005)		—
Net revenues	$	749,208	$	53,159	$	2,248	$	(8,005)	$	796,610
Identifiable long-lived assets (1)	$	82,588	$	5,144	$	5	$	—	$	87,737
YEAR ENDED JUNE 30, 2019
Net revenues to unaffiliated customers	$	599,422	$	49,332	$	5,990	$	—	$	654,744
Inter-geographic revenues	10,570		1,343		—		(11,913)		—
Net revenues	$	609,992	$	50,675	$	5,990	$	(11,913)	$	654,744
Identifiable long-lived assets (1)	$	54,952	$	5,037	$	12	$	—	$	60,001
YEAR ENDED JUNE 30, 2018
Net revenues to unaffiliated customers	$	450,218	$	35,000	$	7,966	$	—	$	493,184
Inter-geographic revenues	10,650		925		—		(11,575)		—
Net revenues	$	460,868	$	35,925	$	7,966	$	(11,575)	$	493,184
Identifiable long-lived assets (1)	$	47,997	$	2,974	$	9	$	—	$	50,980

(1) Identifiable long-lived assets exclude ROU assets, goodwill, and intangible assets.

Revenue from External Customers by Geographic Areas

The following table presents the Company's net revenue by end market for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Domestic (1)	$	704,722	$	580,935	$	410,050
International/Foreign Military Sales (2)	91,888		73,809		83,134
Total Net Revenue	$	796,610	$	654,744	$	493,184

(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined.

Revenue from External Customers by Products and Services

The following table presents the Company's net revenue by end application for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Radar (1)	$	233,967	$	164,046	$	159,737
Electronic Warfare (2)	161,782		128,841		114,801
Other Sensor and Effector (3)	105,175		90,245		48,088
Total Sensor and Effector	500,924		383,132		322,626
C4I (4)	207,000		183,172		87,414
Other (5)	88,686		88,440		83,144
Total Net Revenues	$	796,610	$	654,744	$	493,184

(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track, and identify objects.

(2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum.

(3) Other Sensor and Effector products include all Sensor and Effector end markets other than Radar and Electronic Warfare.

(4) C4I includes rugged secure rackmount servers that are designed to drive the most powerful military processing applications.

(5) Other products include all component and other sales where the end use is not specified.

The following table presents the Company's net revenue by product grouping for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Components (1)	$	225,292	$	184,870	$	142,982
Modules and Sub-assemblies (2)	203,432		180,873		194,377
Integrated Subsystems (3)	367,886		289,001		155,825
Total Net Revenues	$	796,610	$	654,744	$	493,184

The following table presents the Company's net revenue by platform for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Airborne (1)	$	402,670	$	306,412	$	242,611
Land (2)	102,956		83,034		41,841
Naval (3)	157,225		136,966		110,620
Other (4)	133,759		128,332		98,112
Total Net Revenues	$	796,610	$	654,744	$	493,184

Customers Comprising Ten Percent or more Revenues

Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019		June 30, 2018
Raytheon Technologies	16	%	20	%	19	%
Lockheed Martin Corporation	16	%	17	%	19	%
	32	%	37	%	38	%

Supplementary Information (Unaudited) (Tables)

12 Months Ended

Jul. 03, 2020

Quarterly Financial Information Disclosure [Abstract]

Consolidated Quarterly Statements of Operations


2020 (In thousands, except per share data)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Net revenues	$	177,304	$	193,913	$	208,016	$	217,377
Gross margin	$	78,400	$	88,506	$	93,325	$	96,613
Income from operations	$	17,476	$	20,825	$	26,342	$	26,419
Income before income taxes	$	17,229	$	20,786	$	28,928	$	26,990
Income tax (benefit) provision	$	(2,018)	$	5,110	$	5,363	$	(234)


Net income	$	19,247	$	15,676	$	23,565	$	27,224
Net income per share:
Basic net income per share	$	0.35	$	0.29	$	0.43	$	0.50



Diluted net income per share	$	0.35	$	0.29	$	0.43	$	0.49




2019 (In thousands, except per share data)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Net revenues	$	144,056	$	159,089	$	174,636	$	176,963
Gross margin	$	61,583	$	70,887	$	73,847	$	79,839
Income from operations	$	13,810	$	19,861	$	22,062	$	20,851
Income before income taxes	$	10,608	$	16,866	$	19,466	$	12,587
Income tax provision (benefit)	$	3,129	$	4,483	$	5,357	$	(217)


Net income	$	7,479	$	12,383	$	14,109	$	12,804
Net income per share:
Basic net income per share	$	0.16	$	0.26	$	0.30	$	0.26



Diluted net income per share	$	0.16	$	0.26	$	0.29	$	0.25

Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Assets:
Gain on Sale of Investments	$ 4,310
Proceeds from Sale of Other Investments	3,810
Assets, Fair Value Adjustment	2,007
Fair Value, Measurements, Recurring \| Estimate of Fair Value Measurement [Member]
Assets:
Fair value measurement disclosure	12,013	$ 31,522
Fair Value, Measurements, Recurring \| Equity Securities [Member] \| Estimate of Fair Value Measurement [Member]
Assets:
Fair value measurement disclosure	2,007
Fair Value, Measurements, Recurring \| Certificates of Deposit [Member] \| Estimate of Fair Value Measurement [Member]
Assets:
Fair value measurement disclosure	10,006	31,522
Fair Value, Measurements, Recurring \| Level 1
Assets:
Fair value measurement disclosure	2,007	0
Fair Value, Measurements, Recurring \| Level 1 \| Equity Securities [Member]
Assets:
Fair value measurement disclosure	2,007
Fair Value, Measurements, Recurring \| Level 1 \| Certificates of Deposit [Member]
Assets:
Fair value measurement disclosure	0	0
Fair Value, Measurements, Recurring \| Level 2
Assets:
Fair value measurement disclosure	10,006	31,522
Fair Value, Measurements, Recurring \| Level 2 \| Equity Securities [Member]
Assets:
Fair value measurement disclosure	0
Fair Value, Measurements, Recurring \| Level 2 \| Certificates of Deposit [Member]
Assets:
Fair value measurement disclosure	10,006	31,522
Fair Value, Measurements, Recurring \| Level 3
Assets:
Fair value measurement disclosure	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Equity Securities [Member]
Assets:
Fair value measurement disclosure	0
Fair Value, Measurements, Recurring \| Level 3 \| Certificates of Deposit [Member]
Assets:
Fair value measurement disclosure	$ 0	$ 0

Inventory (Detail) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 111,225	$ 84,561
Work in process	49,647	38,525
Finished goods	17,221	14,026
Total	$ 178,093	$ 137,112

Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Detail) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Property and equipment, gross	$ 219,542	$ 172,963
Less: accumulated depreciation and amortization	(131,805)	(112,962)
Property and equipment, net	87,737	60,001
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 85,705	78,195
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	4 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	5 years
Property and equipment, gross	$ 5,993	5,330
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,874	25,646
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 90,970	$ 63,792
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	5 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	10 years

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Increase in property and equipment	$ 27,736
Depreciation and amortization expense related to property and equipment	18,770	$ 18,478	$ 16,273
Computer equipment and software
Property, Plant and Equipment [Line Items]
Retirement of asset	$ 64	$ 3,980

Goodwill Goodwill - Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	12 Months Ended
	Jul. 03, 2020 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 562,146
Ending Balance	614,076
Delta
Goodwill [Roll Forward]
Goodwill, Period Increase (Decrease)	447
GECO Avionics, LLC [Member]
Goodwill [Roll Forward]
Goodwill, Period Increase (Decrease)	(200)
The Athena Group, Inc [Member]
Goodwill [Roll Forward]
Goodwill arising from acquisition	52,676
Goodwill, Period Increase (Decrease)	$ (993)

Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 294,657	$ 268,167
Accumulated Amortization	(85,909)	(62,043)
Net Carrying Amount	208,748	206,124
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	181,960	167,460
Accumulated Amortization	(48,450)	(38,308)
Net Carrying Amount	$ 133,510	$ 129,152
Acquired intangible assets, estimated useful lives	11 years 4 months 24 days	11 years 4 months 24 days
Licensing agreements and patents
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,505	$ 1,505
Accumulated Amortization	(1,404)	(1,022)
Net Carrying Amount	$ 101	$ 483
Acquired intangible assets, estimated useful lives	3 years 6 months	3 years 6 months
Completed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 107,992	$ 97,592
Accumulated Amortization	(34,522)	(22,246)
Net Carrying Amount	$ 73,470	$ 75,346
Acquired intangible assets, estimated useful lives	9 years 2 months 12 days	9 years
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,200	$ 1,610
Accumulated Amortization	(1,533)	(467)
Net Carrying Amount	$ 1,667	$ 1,143
Acquired intangible assets, estimated useful lives	2 years	1 year 7 months 6 days
American Panel Corporation
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (2,939)
Net Carrying Amount	$ 30,261
American Panel Corporation \| Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, estimated useful lives	11 years
American Panel Corporation \| Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, estimated useful lives	11 years
American Panel Corporation \| Order or Production Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, estimated useful lives	2 years

Intangible Assets - Estimated Future Amortization Expense for Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets, Gross	$ 294,657	$ 268,167
Finite-Lived Intangible Assets, Accumulated Amortization	85,909	62,043
2015	30,326
2016	29,114
2017	26,857
2018	23,614
2019	22,034
Thereafter	76,803
Net Carrying Amount	208,748	206,124
Customer Relationships
Finite-Lived Intangible Assets, Gross	181,960	167,460
Finite-Lived Intangible Assets, Accumulated Amortization	48,450	38,308
Net Carrying Amount	$ 133,510	$ 129,152
Acquired intangible assets, estimated useful lives	11 years 4 months 24 days	11 years 4 months 24 days
Completed Technology [Member]
Finite-Lived Intangible Assets, Gross	$ 107,992	$ 97,592
Finite-Lived Intangible Assets, Accumulated Amortization	34,522	22,246
Net Carrying Amount	$ 73,470	$ 75,346
Acquired intangible assets, estimated useful lives	9 years 2 months 12 days	9 years
Backlog [Member]
Finite-Lived Intangible Assets, Gross	$ 3,200	$ 1,610
Finite-Lived Intangible Assets, Accumulated Amortization	1,533	467
Net Carrying Amount	$ 1,667	$ 1,143
Acquired intangible assets, estimated useful lives	2 years	1 year 7 months 6 days

Restructuring Plan - Additional Information (Detail) $ in Thousands	12 Months Ended
	Jul. 03, 2020 USD ($) position	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($) position
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges	$ 1,805	$ 560	$ 3,159
Number of positions eliminated \| position	20		38
Other restructuring costs		$ 560	$ 3,159

Restructuring Plan - Expenses by Business Segment for Restructuring Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	$ 4	$ 1,801
Provisions	1,805	629
Cash paid	(1,212)	(2,357)
Reversals		(69)
Restructuring liability at end period	597	4
Severance
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	4	1,801
Provisions	1,730	549
Cash paid	(1,137)	(2,333)
Reversals		(13)
Restructuring liability at end period	597	4
Other Members
Restructuring Reserve [Roll Forward]
Restructuring liability at beginning of period	0	0
Provisions	75	80
Cash paid	(75)	(24)
Reversals		(56)
Restructuring liability at end period	$ 0	$ 0

Income Taxes - Components of Income Before Income Taxes and Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Income before income taxes:
United States	$ 93,388	$ 57,281	$ 43,368
Foreign	545	2,246	(795)
Income before income taxes	93,933	59,527	42,573
Federal:
Current	8,442	11,454	4,470
Deferred	(1,077)	(3,008)	(4,527)
Federal Income Tax Expense (Benefit), Continuing Operations, Total	7,365	8,446	(57)
State:
Current	3,407	5,194	2,370
Deferred	(2,327)	(1,421)	(537)
State and Local Income Tax Expense (Benefit), Continuing Operations, Total	1,080	3,773	1,833
Foreign:
Current	475	546	186
Deferred	(699)	(13)	(272)
Foreign, Income Tax expense benefit	(224)	533	(86)
Income tax expense (benefit)	$ 8,221	$ 12,752	$ 1,690

Income Taxes - Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate from Continuing Operations (Detail)	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes at federal statutory rates	21.00%	21.00%	28.00%
State income tax, net of federal tax benefit	6.10%	5.90%	5.60%
Research and development credits	(11.90%)	(4.50%)	(5.10%)
Effective Income Tax Rate Reconciliation, Deduction, Percent	3.10%	0.00%	0.00%
Excess tax benefits on stock compensation	(7.70%)	(4.50%)	(18.50%)
Domestic manufacturing deduction	0.00%	0.00%	(2.00%)
Deemed repatriation of foreign earnings	0.00%	0.00%	(1.90%)
Foreign tax credits	(0.10%)	(0.10%)	(0.30%)
Equity compensation	2.60%	2.00%	1.70%
Change in the fair value of the liability related to the LNX earn-out	3.00%	0.30%	0.30%
Effective Income Tax Rate Reconciliation, Acquired Tax Attributes	0.00%	0.00%	(8.70%)
Tax rate changes	(0.50%)	0.00%	(2.30%)
Acquisition costs	0.00%	0.10%	1.40%
Other	(0.80%)	1.00%	1.40%
Effective income tax rate from continuing operation	8.80%	21.40%	4.00%

Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Deferred tax assets:
Inventory valuation and receivable allowances	$ 12,066	$ 10,313
Accrued compensation	5,941	4,644
Equity compensation	5,062	4,595
Federal and state research and development tax credit carryforwards	11,782	15,510
Other accruals	1,086	1,128
Accrued compensation	930	1,561
Operating Loss Carryforwards	425	721
Deferred Tax Assets, Tax Deferred Expense	20,035	0
Capital loss carryforwards	0	2,354
Other temporary differences	1,876	2,258
Deferred tax Asset	59,203	43,084
Valuation allowance	(11,264)	(16,666)
Total deferred tax assets	47,939	26,418
Deferred tax liabilities:
Deferred revenue	(1,111)	(848)
Property and equipment depreciation	(10,668)	(4,927)
Acquired intangible assets	(33,007)	(38,399)
Other	(616)	(58)
Total deferred tax liabilities	61,828	44,232
Net deferred tax (liabilities) assets	(13,889)	(17,814)
Deferred income taxes	13,889	17,814
Deferred Tax Liabilities, Leasing Arrangements	$ (16,426)	$ 0

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Tax Credit Carryforward [Line Items]
Reductions as a result of a lapse of the applicable statute of limitations	$ 156	$ 0
Settlements of previously recognized positions	0	0
Excess Tax Benefit from Share-based Compensation, Operating Activities	7,259	$ 2,672
Income Tax Credits and Adjustments	6,325
Unrecognized Tax Benefits, Period Increase (Decrease)	2,240
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount	2,917
Domestic Tax Authority \| Research and development credit carryforwards
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 14,884
Domestic Tax Authority \| Research and development credit carryforwards \| Maximum
Tax Credit Carryforward [Line Items]
Tax carryforward expiration year	2034
State and Local Jurisdiction \| Research and development credit carryforwards
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 14,884

Income Taxes - Summary of Reserves for Unrecognized Income Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 1,273	$ 998
Increases for tax positions taken related to a prior period	2,146	0
Decreases for settlements of previously recognized positions	0	0
Decreases as a result of a lapse of the applicable statute of limitations	(156)	0
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	854	275
Unrecognized tax benefits, end of period	4,117	1,273	$ 998
Unrecognized tax benefits that would impact effective tax rate	4,117
Interest and penalties accrued	175	84
interest and penalties recognized	$ 91	$ 101	$ 42

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	Jul. 03, 2020 USD ($)
Non-cancelable purchase commitments
Long-term Purchase Commitment [Line Items]
Purchase commitments for less than one year	$ 103,548

Debt - Additional Information (Detail) - USD ($)		12 Months Ended
Debt - Additional Information (Detail) - USD ($)	May 02, 2016	Jul. 03, 2020	Jun. 30, 2019
Line of Credit Facility [Line Items]
Interest Expense		$ (1,006,000)	$ (9,109,000)
Letters of credit outstanding		$ 904,000
Debt instrument borrowing term	5 years
Collateral Capital Stock		65.00%
Revolver
Line of Credit Facility [Line Items]
Interest Expense		$ (1,006,000)	$ (9,109,000)
Revolver [Member]
Line of Credit Facility [Line Items]
Debt Issuance Costs, Net		4,369,000
Debt Issuance Costs, Net		$ 4,369,000
Revolver [Member] \| Credit Agreement [Member]
Line of Credit Facility [Line Items]
Basis Spread on Variable Rate		1.125%
Commitment Fee Percentage		0.20%

Employee Benefit Plans - Pension, Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Net gain in accumulated other comprehensive income	$ (1,768)	$ (2,350)	$ 354
Company contributions	911
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(2,387)	(2,859)
Funded status of plan	11,877	9,186
Net gain in accumulated other comprehensive income		(2,350)
Company contributions	911	741
Fair value of plan assets	$ 18,078	$ 15,088	$ 12,029
Discount rate	0.30%	0.50%
Rate of compensation increases	1.50%	1.50%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay		3.00%	3.00%

Shareholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	May 23, 2019	May 20, 2019	Aug. 28, 2017
Class of Stock [Line Items]
Shares sold (in shares)			200,000
Public Stock Offering
Class of Stock [Line Items]
Shares sold (in shares)	6,000,000	5,000,000
Common stock, par value (in dollars per share)		$ 0.01
Over-Allotment Option
Class of Stock [Line Items]
Shares sold (in shares)	900,000	750,000

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 562	$ 241
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	0
Intrinsic value of the options exercised	$ 67		$ 1,780
Number of share options granted	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of restricted stock awards vested	$ 46,089	24,596	$ 38,344
Unrecognized compensation cost related to non-vested restricted stock	$ 44,690	$ 32,886
Unrecognized compensation, period of recognition	2 years 4 months 24 days	2 years 6 months
1997 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under stock incentive plan	1,800,000
Purchase price as a percentage of the lesser of the market value of such shares at either the beginning or the end of each nine-month offering period	85.00%
Percentage of employee compensation that may be uses to purchase common stock through payroll deductions, maximum	10.00%
Granted	89,000	102,000	82,000
Shares available for future grant	29,000
Number of share options granted	89,000	102,000	82,000

Stock-Based Compensation - Summary of Stock Option Plans (Detail) - Stock Options - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Number of Shares
Outstanding at beginning of period	4,000	4,000
Granted	0
Exercised	(1,000)
Outstanding at end of period	3,000	4,000	4,000
Vested and expected to vest at end of period	3,000
Exercisable at end of period	3,000
Weighted Average Exercise Price (in dollars per share)
Outstanding at beginning of period	$ 5.52	$ 5.52
Exercised	5.52
Outstanding at end of period	5.52	$ 5.52	$ 5.52
Vested and expected to vest at end of period	5.52
Exercisable at end of period	$ 5.52
Weighted Average Remaining Contractual Term (Years)
Outstanding at end of period	1 year 1 month 13 days	2 years 1 month 17 days	3 years 1 month 17 days
Vested and expected to vest at end of period	1 year 1 month 13 days
Exercisable at end of period	1 year 1 month 13 days
Aggregate Intrinsic Value
Outstanding at end of period	$ 208
Vested and expected to vest at end of period	208
Exercisable at end of period	$ 208

Stock-Based Compensation - Summary of Nonvested Restricted Stock (Detail) - Restricted Stock - $ / shares shares in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Number of Shares
Beginning Balance	1,046	1,135
Granted	522	468
Vested	(562)	(478)
Forfeited	(49)	(79)
Ending Balance	957	1,046
Weighted Average Grant Date Fair Value (in dollars per share)
Beginning Balance	$ 39.62	$ 27.26
Granted	80.87	52.50
Vested	31.40	51.50
Forfeited	54.96	36.97
Ending Balance	$ 61.59	$ 39.62

Stock-Based Compensation - Stock Based Compensation Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 562	$ 241
Share-based Payment Arrangement, Expense	26,538	19,422	$ 17,314
Income taxes	(6,900)	(5,263)	(5,713)
Share-based compensation expense, net of income taxes	19,638	14,159	11,601
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	989	820	502
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	21,688	16,188	14,828
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 3,861	$ 2,414	$ 1,984

Operating Segment, Geographic Information and Significant Customers - Geographic Distribution of Revenues and Long Lived Assets from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues to unaffiliated customers			$ 796,610	$ 654,744	$ 493,184
Inter-geographic revenues			0	0	0
Net revenues	$ 217,377	$ 176,963	796,610	654,744	493,184
Identifiable long-lived assets	87,737	60,001	87,737	60,001	50,980
US
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues			704,722	580,935	410,050
Reportable Geographical Components \| US
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues to unaffiliated customers			744,270	599,422	450,218
Inter-geographic revenues			4,938	10,570	10,650
Net revenues			749,208	609,992	460,868
Identifiable long-lived assets	82,588	54,952	82,588	54,952	47,997
Reportable Geographical Components \| Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues to unaffiliated customers			50,092	49,332	35,000
Inter-geographic revenues			3,067	1,343	925
Net revenues			53,159	50,675	35,925
Identifiable long-lived assets	5,144	5,037	5,144	5,037	2,974
Reportable Geographical Components \| Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues to unaffiliated customers			2,248	5,990	7,966
Inter-geographic revenues			0	0	0
Net revenues			2,248	5,990	7,966
Identifiable long-lived assets	5	12	5	12	9
Geography Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues to unaffiliated customers			0	0	0
Inter-geographic revenues			(8,005)	(11,913)	(11,575)
Net revenues			(8,005)	(11,913)	(11,575)
Identifiable long-lived assets	$ 0	$ 0	$ 0	$ 0	$ 0

Operating Segment, Geographic Information and Significant Customers - Customers Comprising Ten Percent or More of Revenues (Detail) - Customer Concentration Risk - Revenues	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue, Major Customer [Line Items]
Concentration risk, percent	32.00%	37.00%	38.00%
Raytheon Company
Revenue, Major Customer [Line Items]
Concentration risk, percent	16.00%	20.00%	19.00%
Lockheed Martin Corporation
Revenue, Major Customer [Line Items]
Concentration risk, percent	16.00%	17.00%	19.00%

Supplementary Information (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Jul. 03, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Unaudited consolidated quarterly statements of operations data
Net revenues	$ 217,377	$ 208,016	$ 193,913	$ 177,304	$ 176,963	$ 174,636	$ 159,089	$ 144,056		$ 796,610	$ 654,744	$ 493,184
Gross margin	96,613	93,325	88,506	78,400	79,839	73,847	70,887	61,583		356,844	286,156	225,858
Income from operations	26,419	26,342	20,825	17,476	20,851	22,062	19,861	13,810		91,062	76,584	46,985
Income before income taxes	26,990	28,928	20,786	17,229	12,587	19,466	16,866	10,608		93,933	59,527	42,573
Income tax (benefit) provision	(234)	5,363	5,110	(2,018)	(217)	5,357	4,483	3,129		8,221	12,752	1,690
Net income	$ 27,224	$ 23,565	$ 15,676	$ 19,247	$ 12,804	$ 14,109	$ 12,383	$ 7,479		$ 85,712	$ 46,775	$ 40,883
Earnings Per Share [Abstract]
Basic net income per share (in dollars per share)	$ 0.50	$ 0.43	$ 0.29	$ 0.35	$ 0.26	$ 0.30	$ 0.26	$ 0.16		$ 1.57	$ 0.98	$ 0.88
Diluted net income per share (in dollars per share)	$ 0.49	$ 0.43	$ 0.29	$ 0.35	$ 0.25	$ 0.29	$ 0.26		$ 0.16	$ 1.56	$ 0.96	$ 0.86
Cost of revenues										$ 439,766	$ 368,588	$ 267,326

Description of Business	12 Months Ended
Description of Business	Jul. 03, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Mercury Systems, Inc. (the “Company” or “Mercury”) is a leading technology company serving the aerospace and defense electronics industry, positioned at the intersection of high-tech and defense. Headquartered in Andover, Massachusetts, the Company delivers solutions that power a broad range of aerospace and defense programs, optimized for mission success in some of the most challenging and demanding environments. The Company envisions, creates and delivers innovative technology solutions purpose-built to meet our customers’ most-pressing high-tech needs, including those specific to the defense community. As a leading manufacturer of essential components, modules and subsystems, the Company sells to defense prime contractors, the U.S. government and original equipment manufacturers (“OEM”) commercial aerospace companies. The Company has built a trusted, contemporary portfolio of proven product solutions purpose-built for aerospace and defense that it believes meets and exceeds the performance needs of its defense and commercial customers. Customers add their own applications and algorithms to our specialized, secure and innovative pre-integrated solutions. This allows them to complete their full system by integrating with their platform, the sensor technology and, in some cases, the processing from Mercury, with their platform. The Company's products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors and commercial aviation customers. The Company's transformational business model accelerates the process of making new technology profoundly more accessible to its customers by bridging the gap between commercial technology and aerospace and defense applications. The Company's long-standing deep relationships with leading high-tech companies, coupled with the Company's high level of research and development (“R&D”) investments and industry-leading trusted and secure design and manufacturing capabilities, are the foundational tenets of this highly successful model. The Company's capabilities, technology and R&D investment strategy combine to differentiate Mercury in its industry. The Company's technologies and capabilities include secure embedded processing modules and subsystems, mission computers, secure and rugged rack-mount servers, safety-critical avionics, radio frequency (“RF”) components, multi-function assemblies, subsystems and custom microelectronics. The Company maintains our technological edge by investing in critical capabilities and intellectual property (“IP” or “building blocks”) in processing and RF, leveraging open standards and open architectures to adapt quickly those building blocks into solutions for highly data-intensive applications, including emerging needs in areas such as artificial intelligence (“AI”). The Company's mission critical solutions are deployed by its customers for a variety of applications including command, control, communications, computers, intelligence, surveillance and reconnaissance (“C4ISR”), electronic intelligence, avionics, electro-optical/infrared (“EO/IR”), electronic warfare, weapons and missile defense, hypersonics and radar. On September 23, 2019, the Company acquired American Panel Corporation (“APC”) on a cash-free, debt-free basis for a total purchase price of $100,000, prior to net working capital and net debt adjustments. Based in Alpharetta, Georgia, APC is a leading innovator in large area display technology for the aerospace and defense market. APC's capabilities are deployed on a wide range of next-generation platforms. On May 20, 2019, the Company announced the commencement of an underwritten public offering of its common stock, par value $0.01 per share. On May 31, 2019 the Company closed the offering, including the full over-allotment allocation, selling an aggregate of 6,900 shares of common stock at a price to the public of $69.00 for total net proceeds of $454,343. On April 18, 2019, the Company acquired The Athena Group, Inc. (“Athena”) and Syntonic Microwave LLC (“Syntonic”) on a cash-free, debt-free basis for a combined total purchase price of $46,000, prior to net working capital and net debt adjustments. Athena was a privately-held company based in Gainesville, Florida and a leading provider of cryptographic and countermeasure IP vital to securing defense computing systems. Syntonic was a privately held company based in Campbell, California and a leading provider of advanced synthesizers, wideband phase coherent tuners and microwave converters optimized for signals intelligence and electronic intelligence applications demanding frequency coverage up to 40 GHz with 2 GHz instantaneous bandwidth. On January 29, 2019, the Company acquired GECO Avionics, LLC (“GECO”) on a cash-free, debt-free basis for a total purchase price of $36,500. Based in Mesa, Arizona, GECO has over twenty years of experience designing and manufacturing affordable safety-critical avionics and mission computing solutions. On July 31, 2018, the Company acquired Germane Systems, LC (“Germane”) on a cash-free, debt-free basis for a total purchase price of $45,000, prior to net working capital and net debt adjustments. Based in Chantilly, Virginia, Germane is an industry leader in the design, development and manufacturing of rugged servers, computers and storage systems for command, control and intelligence (“C2I”) applications. For further details on the acquisitions, see Note C to the consolidated financial statements.

Summary of Significant Accounting Policies

12 Months Ended

Jul. 03, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated.

BASIS OF PRESENTATION

Effective July 1, 2019, the Company's fiscal year has changed to the 52-week or 53-week period ending on the Friday closest to the last day in June. All references to fiscal 2020 are to the 53-week period from July 1, 2019 to July 3, 2020. All references to fiscal 2019 and 2018 are to the 52-week periods from July 1, 2018 to June 30, 2019 and July 1, 2017 to June 30, 2018, respectively. There have been no reclassifications of prior comparable periods due to this change.

USE OF ESTIMATES

The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

BUSINESS COMBINATIONS

The Company utilizes the acquisition method of accounting under ASC 805, Business Combinations, (“ASC 805”), for all transactions and events in which it obtains control over one or more other businesses, to recognize the fair value of all assets and liabilities acquired, even if less than one hundred percent ownership is acquired, and in establishing the acquisition date fair value as of the measurement date for all assets and liabilities assumed. The Company also utilizes ASC 805 for the initial recognition and measurement, subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in business combinations. Other estimates include:

•estimated step-ups for fixed assets and inventory;

•estimated fair values of intangible assets; and

•estimated income tax assets and liabilities assumed from the acquiree.

While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the business acquisition date, the estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the purchase price allocation period, which is generally one year from the business acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. For changes in the valuation of intangible assets between the preliminary and final purchase price allocation, the related amortization is adjusted in the period it occurs. Subsequent to the purchase price allocation period, any adjustment to assets acquired or liabilities assumed is included in operating results in the period in which the adjustment is determined.

LEASES

Effective July 1, 2019, the Company adopted ASC 842, Leases, (“ASC 842”), which requires lessees to recognize a right-of-use (“ROU”) asset and lease liability for most lease arrangements. The Company has adopted ASC 842 using the optional transition method and, as a result, there have been no reclassifications of prior comparable periods due to this adoption.

The Company has arrangements involving the lease of facilities, machinery and equipment. Under ASC 842, at inception of the arrangement, the Company determines whether the contract is or contains a lease and whether the lease should be classified as an operating or a financing lease. This determination, among other considerations, involves an assessment of whether the Company can control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset.

The Company recognizes ROU assets and lease liabilities as of the lease commencement date based on the net present value of the future minimum lease payments over the lease term. ASC 842 requires lessees to use the rate implicit in the lease unless it is not readily determinable and then it may use its incremental borrowing rate (“IBR”) to discount the future minimum

lease payments. Most of the Company's lease arrangements do not provide an implicit rate; therefore, the Company uses its IBR to discount the future minimum lease payments. The Company determines its IBR with its credit rating and current economic information available as of the commencement date, as well as the identified lease term. During the assessment of the lease term, the Company considers its renewal options and extensions within the arrangements and the Company includes these options when it is reasonably certain to extend the term of the lease.

The Company has lease arrangements with both lease and non-lease components. Consideration is allocated to lease and non-lease components based on estimated standalone prices. The Company has elected to exclude non-lease components from the calculation of its ROU assets and lease liabilities. In the Company's adoption of ASC 842, leases with an initial term of 12 months or less will not result in recognition of a ROU asset and a lease liability and will be expensed as incurred over the lease term. Leases of this nature were immaterial to the Company’s consolidated financial statements.

The Company has lease arrangements that contain incentives for tenant improvements as well as fixed rent escalation clauses. For contracts with tenant improvement incentives that are determined to be a leasehold improvement that will be owned by the lessee and the Company is reasonably certain to exercise, it records a reduction to the lease liability and amortizes the incentive over the identified term of the lease as a reduction to rent expense. The Company records rental expense on a straight-line basis over the identified lease term on contracts with rent escalation clauses.

Finance leases are not material to the Company's consolidated financial statements and the Company is not a lessor in any material lease arrangements. There are no material restrictions, covenants, sale and leaseback transactions, variable lease payments or residual value guarantees in the Company's lease arrangements. Operating leases are included in Operating lease right-of-use assets, Accrued expenses, and Operating lease liabilities in the Company's Consolidated Balance Sheets. The standard had no impact on the Company's Consolidated Statements of Operations and Comprehensive Income or Consolidated Statements of Cash Flows. See Note J to the consolidated financial statements for more information regarding the adoption of this standard.

REVENUE RECOGNITION

The Company recognizes revenue in accordance with the five step model set forth by ASC 606, Revenue from Contracts with Customers, (“ASC 606”), which involves identification of the contract(s), identification of performance obligations in the contract, determination of the transaction price, allocation of the transaction price to the previously identified performance obligations, and revenue recognition as the performance obligations are satisfied.

During step one of the five step model, the Company considers whether contracts should be combined or segmented, and based on this assessment, the Company combines closely related contracts when all the applicable criteria are met. The combination of two or more contracts requires judgment in determining whether the intent of entering into the contracts was effectively to enter into a single contract, which should be combined to reflect an overall profit rate. Similarly, the Company may separate an arrangement, which may consist of a single contract or group of contracts, with varying rates of profitability, only if the applicable criteria are met. Judgment also is involved in determining whether a single contract or group of contracts may be segmented based on how the arrangement and the related performance criteria were negotiated. The conclusion to combine a group of contracts or segment a contract could change the amount of revenue and gross profit recorded in a given period.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. Certain contracts with customers require the Company to perform tests of its products prior to shipment to ensure their performance complies with the Company’s published product specifications and, on occasion, with additional customer-requested specifications. In these cases, the Company conducts such tests and, if they are completed successfully, includes a written confirmation with each order shipped. As a result, at the time of each product shipment, the Company believes that no further customer testing requirements exist and that there is no uncertainty of acceptance by its customer. The Company's contracts with customers generally do not include a right of return relative to delivered products. In certain cases, contracts are modified to account for changes in the contract specifications or requirements. In most instances, contract modifications are accounted for as part of the existing contract. Certain contracts with customers have options for the customer to acquire additional goods or services. In most cases the pricing of these options are reflective of the standalone selling price of the good or service. These options do not provide the customer with a material right and are accounted for only when the customer exercises the option to purchase the additional goods or services. If the option on the customer contract was not indicative of the standalone selling price of the good or service, the material right would be accounted for as a separate performance obligation.

The Company is a leader in making trusted, secure mission-critical technologies profoundly more accessible to aerospace and defense. Revenues are derived from the sales of products that are grouped into one of the following three categories: (i) components; (ii) modules and sub-assemblies; and (iii) integrated subsystems. The Company also generates revenues from the

performance of services, including systems engineering support, consulting, maintenance and other support, testing and installation. Each promised good or service within a contract is accounted for separately under the guidance of ASC 606 if they are distinct. Promised goods or services not meeting the criteria for being a distinct performance obligation are bundled into a single performance obligation with other goods or services that together meet the criteria for being distinct. The appropriate allocation of the transaction price and recognition of revenue is then determined for the bundled performance obligation.

Once the Company identifies the performance obligations, the Company then determines the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. Variable consideration typically arises due to volume discounts, or other provisions that can either decrease or increase the transaction price. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the method the Company expects to better predict the amount of consideration to which it will be entitled. The determination of the estimates for variable consideration require judgment, and are based on past history with similar contracts and anticipated performance. Further, variable consideration is only included in the determination of the transaction price if it is probable that a significant reversal in the amount of revenue recognized will not occur. There are no constraints on the variable consideration recorded.

For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation using the standalone selling price of each distinct good or service in the contract. Standalone selling prices of the Company’s goods and services are generally not directly observable. Accordingly, the primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which the Company forecasts the expected costs of satisfying a performance obligation and then adds an appropriate margin for that distinct good or service. The objective of the expected cost plus a margin approach is to determine the price at which the Company would transact if the product or service were sold by the Company on a standalone basis. The Company's determination of the expected cost plus a margin approach involves the consideration of several factors based on the specific facts and circumstances of each contract. Specifically, the Company considers the cost to produce the deliverable, the anticipated margin on that deliverable, the selling price and profit margin for similar parts, the Company’s ongoing pricing strategy and policies, often based on the price list established and updated by management on a regular basis, the value of any enhancements that have been built into the deliverable and the characteristics of the varying markets in which the deliverable is sold.

The Company analyzes the standalone selling prices used in its allocation of transaction price on contracts at least annually. Standalone selling prices will be analyzed on a more frequent basis if a significant change in the Company’s business necessitates a more frequent analysis or if the Company experiences significant variances in its selling prices.

Revenue recognized at a point in time generally relates to contracts that include a combination of components, modules and sub-assemblies, integrated subsystems and related system integration or other services. Contracts with distinct performance obligations recognized at a point in time, with or without an allocation of the transaction price, totaled 73%, 77% and 79% of revenues in the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively. Revenue is recognized at a point in time for these products and services (versus over time recognition) due to the following: (i) customers are only able to consume the benefits provided by the Company upon completion of the product or service; (ii) customers do not control the product or service prior to completion; and (iii) the Company does not have an enforceable right to payment at all times for performance completed to date. Accordingly, there is little judgment in determining when control of the good or service transfers to the customer, and revenue is generally recognized upon shipment (for goods) or completion (for services).

The Company engages in long-term contracts for development, production and service activities and recognizes revenue for performance obligations over time. These long-term contracts involve the design, development, manufacture, or modification of complex modules and sub-assemblies or integrated subsystems and related services. Revenue is recognized over time, due to the fact that: (i) the Company’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; and (ii) the Company’s performance creates an asset with no alternative use to the Company and the Company has an enforceable right to payment for performance completed to date. The Company considers the nature of these contracts and the types of products and services provided when determining the proper accounting for a particular contract. These contracts include both fixed-price and cost reimbursable contracts. The Company’s cost reimbursable contracts typically include cost-plus fixed fee and time and material (“T&M”) contracts.

For long-term contracts, the Company typically leverages the input method, using a cost-to-cost measure of progress. The Company believes that this method represents the most faithful depiction of the Company’s performance because it directly measures value transferred to the customer. Contract estimates and estimates of any variable consideration are based on various assumptions to project the outcome of future events that may span several years. These assumptions include: the amount of time to complete the contract, including the assessment of the nature and complexity of the work to be performed; the cost and availability of materials; the availability of subcontractor services and materials; and the availability and timing of funding from the customer. The Company bears the risk of changes in estimates to complete on a fixed-price contract which may cause profit levels to vary from period to period. For cost reimburseable contracts, the Company is reimbursed periodically for allowable

costs and is paid a portion of the fee based on contract progress. In the limited instances where the Company enters into T&M contracts, revenue recognized reflects the number of direct labor hours expended in the performance of a contract multiplied by the contract billing rate, as well as reimbursement of other direct billable costs. For T&M contracts, the Company recognizes revenue in the amount for which the Company has a right to invoice the customer based on the control transferred to the customer. For over time contracts, the Company recognizes anticipated contract losses as soon as they become known and estimable.

Accounting for long-term contracts requires significant judgment relative to estimating total contract revenues and costs, in particular, assumptions relative to the amount of time to complete the contract, including the assessment of the nature and complexity of the work to be performed. The Company’s estimates are based upon the professional knowledge and experience of its engineers, program managers and other personnel, who review each long-term contract monthly to assess the contract’s schedule, performance, technical matters and estimated cost at completion. Changes in estimates are applied retrospectively and when adjustments in estimated contract costs are identified, such revisions may result in current period adjustments to earnings applicable to performance in prior periods.

Total revenue recognized under long-term contracts over time was 27%, 23% and 21% of revenues in the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively.

The Company generally does not provide its customers with rights of product return other than those related to assurance warranty provisions that permit repair or replacement of defective goods over a period of 12 to 36 months. The Company accrues for anticipated warranty costs upon product shipment. The Company does not consider activities related to such assurance warranties, if any, to be a separate performance obligation. The Company does offer separately priced extended warranties which generally range from 12 to 36 months that are treated as separate performance obligations. The transaction price allocated to extended warranties is recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract.

On long-term contracts, the portion of the payments retained by the customer is not considered a significant financing component because most contracts have a duration of less than one year and payment is received as progress is made. Many of the Company's long-term contracts have milestone payments, which align the payment schedule with the progress towards completion on the performance obligation. On some contracts, the Company may be entitled to receive an advance payment, which is not considered a significant financing component because it is used to facilitate inventory demands at the onset of a contract and to safeguard the Company from the failure of the other party to abide by some or all of their obligations under the contract.

All revenues are reported net of government assessed taxes (e.g., sales taxes or value-added taxes).

COSTS TO OBTAIN AND FULFILL A CONTRACT

The Company expenses sales commissions as incurred for contracts where the amortization period would have been one year or less. The Company has not deferred sales commissions for contracts where the amortization period is greater than one year because such amounts that would qualify for deferral are not significant.

The Company has elected to treat shipping and handling activities performed after the customer has obtained control of the related goods as a fulfillment cost. Such costs are accrued for in conjunction with the recording of revenue for the goods and are classified as cost of revenues.

CONTRACT BALANCES

Contract balances result from the timing of revenue recognized, billings and cash collections, and the generation of contract assets and liabilities. Contract assets represent revenue recognized in excess of amounts invoiced to the customer and the right to payment is not subject to the passage of time. Contract assets are presented as unbilled receivables and costs in excess of billings on the Company’s Consolidated Balance Sheets. Contract liabilities consist of deferred product revenue, billings in excess of revenues, deferred service revenue, and customer advances. Deferred product revenue represents amounts that have been invoiced to customers, but are not yet recognizable as revenue because the Company has not satisfied its performance obligations under the contract. Billings in excess of revenues represents milestone billing contracts where the billings of the contract exceed recognized revenues. Deferred service revenue primarily represents amounts invoiced to customers for annual maintenance contracts or extended warranty contracts, which are recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract. Customer advances represent deposits received from customers on an order. Contract liabilities are included in deferred revenue and the long-term portion of deferred revenue is included within other non-current liabilities on the Company’s Consolidated Balance Sheets. Contract balances are reported in a net position on a contract-by-contract basis.

The contract asset balances were $90,289 and $57,387 as of July 3, 2020 and June 30, 2019, respectively. The contract asset balance increased due to growth in revenue recognized under long-term contracts over time during the fiscal year ended

July 3, 2020. The contract liability balances were $19,892 and $12,362 as July 3, 2020 and June 30, 2019, respectively. The contract liability increased due to a higher volume of contracts with milestone and progress payments.

Revenue recognized during fiscal 2020 that was included in the contract liability balance at June 30, 2019 was $10,216.

REMAINING PERFORMANCE OBLIGATIONS

The Company includes in its computation of remaining performance obligations customer orders for which it has accepted signed sales orders. The definition of remaining performance obligations excludes those contracts that provide the customer with the right to cancel or terminate the order with no substantial penalty, even if the Company’s historical experience indicates the likelihood of cancellation or termination is remote. As of July 3, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $280,346. The Company expects to recognize approximately 73% of its remaining performance obligations as revenue in the next 12 months and the balance thereafter.

CASH AND CASH EQUIVALENTS

Cash equivalents, consisting of highly liquid money market funds and U.S. government and U.S. government agency issues with original maturities of 90 days or less at the date of purchase, are carried at fair market value which approximates cost.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company measures at fair value certain financial assets and liabilities, including cash equivalents, restricted cash and contingent consideration. ASC 820, Fair Value Measurement and Disclosures, specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair-value hierarchy:

Level 1—Quoted prices for identical instruments in active markets;

Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and

Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

CONCENTRATION OF CREDIT RISK

Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company places its cash and cash equivalents with financial institutions of high credit quality. As of July 3, 2020 and June 30, 2019, the Company had $226,838 and $257,932, respectively, of cash and cash equivalents on deposit or invested with its financial and lending institutions.

The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary. As of July 3, 2020, five customers accounted for 52% of the Company's accounts receivable, unbilled receivables and costs in excess of billings. As of June 30, 2019, five customers accounted for 56% of the Company’s accounts receivable, unbilled receivables and costs in excess of billings.

The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be fully collected. The allowance is based on the assessment of the following factors; customer creditworthiness, historical payment experience, age of outstanding receivables and any applicable collateral.

INVENTORY

Inventory is stated at the lower of cost (first-in, first-out) or net realizable value, and consists of materials, labor and overhead. On a quarterly basis, the Company evaluates inventory for net realizable value. Once an item is written down, the value becomes the new inventory cost basis. The Company reduces the value of inventory for excess and obsolete inventory, consisting of on-hand and non-cancelable on-order inventory in excess of estimated usage. The excess and obsolete inventory evaluation is based upon assumptions about future demand, product mix and possible alternative uses.

SEGMENT INFORMATION

The Company uses the management approach for segment disclosure, which designates the internal organization that is used by management for making operating decisions and assessing performance as the source of its reportable segments. The

Company manages its business on the basis of one reportable segment, as a leader in making trusted, secure mission-critical technologies profoundly more accessible to aerospace and defense.

GOODWILL AND INTANGIBLE ASSETS

Goodwill is the amount by which the cost of the net assets obtained in a business acquisition exceeded the fair values of the net identifiable assets on the date of purchase (see Note G). Goodwill is not amortized in accordance with the requirements of ASC 350, Intangibles-Goodwill and Other (“ASC 350”). Goodwill is assessed for impairment at least annually, on a reporting unit basis, or when events and circumstances occur indicating that the recorded goodwill may be impaired. If the book value of a reporting unit exceeds its fair value, the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded in an amount equal to that excess.

Intangible assets result from the Company’s various business acquisitions (see Note H) and certain licensed technologies, and consist of identifiable intangible assets, including completed technology, licensing agreements, patents, customer relationships, trademarks, backlog, and non-compete agreements. Intangible assets are reported at cost, net of accumulated amortization and are either amortized on a straight-line basis over their estimated useful lives of up to 12.5 years or over the period the economic benefits of the intangible asset are consumed.

LONG-LIVED ASSETS

Long-lived assets primarily include property and equipment, intangible assets and ROU assets. The Company regularly evaluates its long-lived assets for events and circumstances that indicate a potential impairment in accordance with ASC 360, Property, Plant, and Equipment (“ASC 360”). The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the estimated undiscounted cash flows of the asset as compared to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value.

Property and equipment are the long-lived, physical assets of the Company acquired for use in the Company’s normal business operations and are not intended for resale by the Company. These assets are recorded at cost. Renewals and betterments that increase the useful lives of the assets are capitalized. Repair and maintenance expenditures that increase the efficiency of the assets are expensed as incurred. Equipment under capital lease is recorded at the present value of the minimum lease payments required during the lease period. Depreciation is based on the estimated useful lives of the assets using the straight-line method (see Note F).

As assets are retired or sold, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations.

Expenditures for major software purchases and software developed for internal use are capitalized and depreciated using the straight-line method over the estimated useful lives of the related assets, which are generally three years. For software developed for internal use, all external direct costs for material and services and certain payroll and related fringe benefit costs are capitalized in accordance with ASC 350. During fiscal 2020, 2019 and 2018, the Company capitalized $905, $749 and $733 of software development costs, respectively.

INCOME TAXES

The Company accounts for income taxes under ASC 740, Income Taxes (“ASC 740”). The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates for the year in which the differences are expected to reverse. The Company records a valuation allowance against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

ASC 740 requires a two-step approach to recognizing and measuring uncertain tax positions. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.

PRODUCT WARRANTY ACCRUAL

The Company’s product sales generally include a 12 to 36 month standard hardware warranty. At time of product shipment, the Company accrues for the estimated cost to repair or replace potentially defective products. Estimated warranty

costs are based upon prior actual warranty costs for substantially similar transactions and any specifically identified warranty requirements. Product warranty accrual is included as part of accrued expenses in the accompanying Consolidated Balance Sheets. The following table presents the changes in the Company's product warranty accrual.


	Fiscal 2020		Fiscal 2019		Fiscal 2018
Beginning balance	$	1,870	$	1,336	$	1,691

Warranty assumed from APC	739		—		—
Warranty assumed from Germane	—		169		—
Warranty assumed from Themis	—		—		117



Accruals for warranties issued during the period	2,839		2,274		1,318


Settlements made during the period	(1,613)		(1,909)		(1,790)
Ending balance	$	3,835	$	1,870	$	1,336

RESEARCH AND DEVELOPMENT COSTS

Research and development costs are expensed as incurred. Research and development costs are primarily made up of labor charges and prototype material and development expenses.

STOCK-BASED COMPENSATION

Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which generally represents the vesting period, and includes an estimate of the awards that will be forfeited. Stock-based compensation expense for the Company’s performance-based restricted stock awards is amortized over the requisite service period using graded vesting. The Company’s other restricted stock awards recognize expense over the requisite service period on a straight-line basis. The Company uses the Black-Scholes valuation model for estimating the fair value on the date of grant of stock options.

RETIREMENT OF COMMON STOCK

Stock that is repurchased or received in connection with the exercise of stock options or in order to cover tax payment obligations triggered by exercise of stock options or the vesting of restricted stock is retired immediately upon the Company’s repurchase. The Company accounts for this under the cost method and upon retirement the excess amount over par value is charged against additional paid-in capital.

NET EARNINGS PER SHARE

Basic net earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net earnings per share computation includes the effect of shares which would be issuable upon the exercise of outstanding stock options and the vesting of restricted stock, reduced by the number of shares which are assumed to be purchased by the Company under the treasury stock method. For all periods presented, net income is the control number for determining whether securities are dilutive or not.

Basic and diluted weighted average shares outstanding were as follows:


	Fiscal Years
	2020	2019	2018
Basic weighted-average shares outstanding	54,546	47,831	46,719
Effect of dilutive equity instruments	569	669	752
Diluted weighted-average shares outstanding	55,115	48,500	47,471

Equity instruments to purchase 8, 32 and 329 shares of common stock were not included in the calculation of diluted net earnings per share for the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively, because the equity instruments were anti-dilutive.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) (“AOCI”) includes foreign currency translation adjustments and pension benefit plan adjustments. The components of AOCI included $174, $(232) and $(137) of foreign currency translation adjustments for the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively. In addition, pension benefit plan adjustments totaled $(1,768), $(2,350) and $354 for the fiscal years ended July 3, 2020, June 30, 2019 and 2018 respectively.

FOREIGN CURRENCY

Local currencies are the functional currency for the Company’s subsidiaries in Switzerland, the United Kingdom, France, Japan, Spain and Canada. The accounts of foreign subsidiaries are translated using exchange rates in effect at period-end for assets and liabilities and at average exchange rates during the period for results of operations. The related translation adjustments are reported in accumulated other comprehensive income in shareholders’ equity. Gains (losses) resulting from non-U.S. currency transactions are included in Other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income and were immaterial for all periods presented.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), an amendment of the FASB Accounting Standards Codification. Subsequent to the issuance of ASU 2016-13, there were various updates that amended and clarified the impact of ASU 2016-13. This ASU broadens the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The amendments in this ASU will require an entity to record an allowance for credit losses for certain financial instruments and financial assets, including trade receivables, based on expected losses rather than incurred losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The use of forecasted information incorporates more timely information in the estimate of expected credit losses. For public business entities, the standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, an amendment of the FASB Accounting Standards Codification. This ASU eliminates the requirement to measure the implied fair value of goodwill by assigning the fair value of a reporting unit to all assets and liabilities within that unit (“the Step 2 test”) from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited by the amount of goodwill in that reporting unit. For public business entities, the new standard is effective for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The ASU requires prospective adoption and permits early adoption for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect this guidance to have a material impact to its consolidated financial statements.

In March 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects for Accumulated Other Comprehensive Income, an amendment of the FASB Accounting Standards Codification. This ASU permits a company to reclassify the disproportionate income tax effects of the Tax Cuts and Jobs Act of 2017 on items within AOCI to retained earnings. The amounts applicable for reclassification should include the effect of the change in the U.S. Federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of the enactment of the Tax Cuts and Jobs Act of 2017 related to the items remaining in AOCI. The effect of the change in the U.S. Federal corporate income tax rate on gross valuation allowances that were originally charged to income from continuing operations shall not be included. The Company has determined that there is no activity that falls within the scope of this ASU.

In August 2018, the FASB issued ASU No. 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715) Changes to the Disclosure Requirements for Defined Benefit Plans, an amendment of the FASB Accounting Standards Codification. The amendments in this ASU remove disclosures that no longer are considered cost-beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. For public business entities, the standard is effective for fiscal years ending after December 15, 2020. The ASU requires retrospective adoption and permits early adoption for all entities. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), an amendment of the FASB Accounting Standards Codification. The ASU provides guidance to determine whether to capitalize implementation costs of a cloud computing arrangement that is a service contract or expense as incurred. Costs of arrangements that do not include a software license should be accounted for as a service contract and expensed as incurred. This ASU is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The ASU permits two methods of adoption: prospectively to all implementation costs incurred after the date of adoption, or retrospectively to each prior reporting period presented. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, an amendment of the FASB Accounting Standards Codification. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions for intraperiod tax allocations and deferred tax liabilities for equity

method investments and adds guidance whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated financial statements and related disclosures.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

Effective July 1, 2019, the Company adopted ASC 842, Leases, which requires lessees to recognize a ROU asset and lease liability for most lease arrangements. This ASU supersedes existing lease guidance, including ASC 840, Leases (Topic 840). The standard mandates a modified retrospective transition method for all entities and early adoption is permitted. This ASU, among other things, allows companies to elect an optional transition method to apply the new lease standard through a cumulative-effect adjustment in the period of adoption. The Company adopted ASC 842 using the optional transition method and, as a result, did not recast prior period consolidated financial statements. All prior period amounts and disclosures remain presented under ASC 840. The Company elected the package of practical expedients which allows the Company to not reassess: 1) whether any expired or existing contracts are or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. The Company also elected the hindsight practical expedient, permitting the use of hindsight when determining the lease term and assessing impairment of ROU assets. Adoption of the new standard resulted in additional lease assets and lease liabilities on the Consolidated Balance Sheets with no cumulative impact to retained earnings and did not have a material impact on our Consolidated Statements of Operations and Comprehensive Income or Consolidated Statements of Cash Flows.

Acquisitions

12 Months Ended

Jul. 03, 2020

Business Combinations [Abstract]

Acquisitions

AMERICAN PANEL CORPORATION ACQUISITION

On September 23, 2019, the Company acquired American Panel Corporation. Based in Alpharetta, Georgia, APC is a leading innovator in large area display technology for the aerospace and defense market. APC's capabilities are deployed on a wide range of next-generation platforms. The Company acquired APC for an all cash purchase price of $100,000, prior to net working capital and net debt adjustments. The Company funded the acquisition with cash on hand.

The following table presents the net purchase price and the fair values of the assets and liabilities of APC on a preliminary basis:


Consideration transferred
Cash paid at closing	$	100,826
Working capital and net debt adjustment	(5,952)
Liabilities assumed	2,454
Less cash acquired	(826)
Net purchase price	$	96,502

Estimated fair value of tangible assets acquired and liabilities assumed
Cash	$	826
Accounts receivable	3,726
Inventory	11,271
Fixed assets	690
Other current and non-current assets	3,494
Accounts payable	(1,554)
Accrued expenses	(1,252)
Other current and non-current liabilities	(5,749)
Estimated fair value of net tangible assets acquired	11,452
Estimated fair value of identifiable intangible assets	33,200
Estimated goodwill	52,676
Estimated fair value of net assets acquired	97,328
Less cash acquired	(826)
Net purchase price	$	96,502

The amounts above represent the preliminary fair value estimates as of July 3, 2020 and are subject to subsequent adjustment as the Company obtains additional information during the measurement period and finalizes its fair value estimates. The preliminary identifiable intangible asset estimate includes customer relationships of $20,600 with a useful life of 11 years, completed technology of $10,400 with a useful life of 11 years and backlog of $2,200 with a useful life of two years. Any subsequent adjustments to these fair value estimates occurring during the measurement period will result in an adjustment to goodwill.

The goodwill of $52,676 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the Sensor and Mission Processing (“SMP”) reporting unit. Since APC was a qualified subchapter S subsidiary, the acquisition is treated as an asset purchase for tax purposes. The Company has estimated the tax value of the intangible assets from this transaction and is amortizing the amount over 15 years for tax purposes. As of July 3, 2020, the Company had $51,553 of goodwill deductible for tax purposes. The Company has not furnished pro forma information relating to APC because such information is not material to the Company's financial results.

The revenues and income before income taxes from APC included in the Company's consolidated results for fiscal year ended July 3, 2020 were $27,383 and $3,309, respectively. The APC results include expenses resulting from purchase accounting, which include amortization of intangible assets and inventory step-up.

THE ATHENA GROUP ACQUISITION

On April 18, 2019, the Company acquired The Athena Group, Inc., a privately-held company based in Gainesville, Florida and a leading provider of cryptographic and countermeasure IP vital to securing defense computing systems. The Company acquired Athena for an all cash purchase price of $34,000, prior to net working capital and net debt adjustments, which was funded through the revolving credit facility (“the Revolver”).

The following table presents the net purchase price and the fair values of the assets and liabilities of Athena:


	Amounts
Consideration transferred
Cash paid at closing	$	34,049
Working capital and net debt adjustment	(446)
Less cash acquired	(49)
Net purchase price	$	33,554

Fair value of tangible assets acquired and liabilities assumed
Cash	$	49
Accounts receivable	726

Fixed assets	74
Other current and non-current assets	398
Accounts payable	(48)
Accrued expenses	(520)
Other current and non-current liabilities	(600)
Deferred tax liability	(5,183)
Fair value of net tangible liabilities acquired	(5,104)
Fair value of identifiable intangible assets	23,700
Goodwill	15,007
Fair value of net assets acquired	33,603
Less cash acquired	(49)
Net purchase price	$	33,554

On April 18, 2020, the measurement period for Athena expired. The identifiable intangible assets include completed technology of $23,700 with a useful life of 11 years.

The goodwill of $15,007 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the Mercury Defense Systems (“MDS”) reporting unit.

SYNTONIC MICROWAVE LLC ACQUISITION

On April 18, 2019, the Company acquired Syntonic Microwave LLC, a privately held company based in Campbell, California and a leading provider of advanced synthesizers, wideband phase coherent tuners and microwave converters optimized for signals intelligence and electronic intelligence applications demanding frequency coverage up to 40 GHz with 2 GHz instantaneous bandwidth. The Company acquired Syntonic for an all cash purchase price of $12,000, prior to net working capital and net debt adjustments, which was funded through the Revolver.

The following table presents the net purchase price and the fair values of the assets and liabilities of Syntonic:


	Amounts
Consideration transferred
Cash paid at closing	$	13,118

Less cash acquired	(1,118)
Net purchase price	$	12,000

Fair value of tangible assets acquired and liabilities assumed
Cash	$	1,118
Accounts receivable	281
Inventory	482
Fixed assets	31
Other current and non-current assets	6
Accounts payable	(71)
Accrued expenses	(61)

Fair value of net tangible assets acquired	1,786
Fair value of identifiable intangible assets	7,100
Goodwill	4,232
Fair value of net assets acquired	13,118
Less cash acquired	(1,118)
Net purchase price	$	12,000

On April 18, 2020, the measurement period for Syntonic expired. The identifiable intangible assets include customer relationships of $4,200 with a useful life of 10 years, completed technology of $2,500 with a useful life of nine years and backlog of $400 with a useful life of one year.

The goodwill of $4,232 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the Advanced Microelectronic Solutions (“AMS”) reporting unit. Since Syntonic was a limited liability company, the acquisition is treated as an asset purchase for tax purposes. The Company has estimated the tax value of the intangible assets from this transaction and is amortizing the amount over 15 years for tax purposes. As of July 3, 2020, the Company had $2,986 of goodwill deductible for tax purposes.

GECO AVIONICS AQUISITION

On January 29, 2019, the Company announced that it had acquired GECO Avionics, LLC, a privately held company in Mesa, Arizona, with over twenty years of experience designing and manufacturing affordable safety-critical avionics and mission computing solutions. The Company acquired GECO for an all cash purchase price of $36,500, which was funded through the Revolver.

The following table presents the net purchase price and the fair values of the assets and liabilities of GECO:


	Amounts
Consideration transferred
Cash paid at closing	$	36,500


Net purchase price	$	36,500

Estimated fair value of tangible assets acquired and liabilities assumed

Accounts receivable	$	1,320
Inventory	1,454
Fixed assets	459

Accounts payable	(217)
Accrued expenses	(239)

Fair value of net tangible assets acquired	2,777
Fair value of identifiable intangible assets	12,700
Goodwill	21,023
Fair value of net assets acquired	36,500

Net purchase price	$	36,500

On January 29, 2020, the measurement period for GECO expired. The identifiable intangible assets include customer relationships of $6,900 with a useful life of 11 years, completed technology of $4,800 with a useful life of 10 years and backlog of $1,000 with a useful life of two years.

The goodwill of $21,023 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the SMP reporting unit. Since GECO was a limited liability company, the acquisition is treated as an asset purchase for tax purposes. The Company has estimated the tax value of the intangible assets from this transaction and is amortizing the amount over 15 years for tax purposes. As of July 3, 2020, the Company had $19,766 of goodwill deductible for tax purposes.

GERMANE SYSTEMS ACQUISITION

On July 31, 2018, the Company announced that it had entered into a membership interest purchase agreement (the "Purchase Agreement") and acquired Germane Systems, LC pursuant to the terms of the Purchase Agreement.

Based in Chantilly, Virginia, Germane is an industry leader in the design, development and manufacturing of rugged servers, computers and storage systems for C2I applications. The Company acquired Germane for an all cash purchase price of $45,000, prior to net working capital and net debt adjustments. The Company funded the acquisition with borrowings obtained under the Revolver. On December 12, 2018 the Company and former owners of Germane agreed to post-closing adjustments totaling $1,244, which decreased the Company's net purchase price.

The following table presents the net purchase price and the fair values of the assets and liabilities of Germane:


	Amounts
Consideration transferred
Cash paid at closing	$	47,166
Working capital and net debt adjustment	(1,244)
Less cash acquired	(193)
Net purchase price	$	45,729

Fair value of tangible assets acquired and liabilities assumed
Cash	$	193
Accounts receivable	4,277
Inventory	8,575
Fixed assets	867
Other current and non-current assets	596
Accounts payable	(3,146)
Accrued expenses	(1,394)
Other current and non-current liabilities	(514)
Fair value of net tangible assets acquired	9,454
Fair value of identifiable intangible assets	12,910
Goodwill	23,558
Fair value of net assets acquired	45,922
Less cash acquired	(193)
Net purchase price	$	45,729

On July 31, 2019, the measurement period for Germane expired. The identifiable intangible assets include customer relationships of $8,500 with a useful life of 11 years, completed technology of $4,200 with a useful life of eight years and backlog of $210 with a useful life of one year.

The goodwill of $23,558 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the MDS reporting unit. Since Germane was a limited liability company, the acquisition is treated as an asset purchase for tax purposes. The Company has estimated the tax value of the intangible assets from this transaction and is amortizing the amount over 15 years for tax purposes. As of July 3, 2020, the Company had $20,555 of goodwill deductible for tax purposes.

Leases

12 Months Ended

Jul. 03, 2020

Leases [Abstract]

Leases

LeasesThe Company enters into lease arrangements to facilitate its operations, including manufacturing, storage, as well as engineering, sales, marketing, and administration resources. As described in Note B to the consolidated financial statements, effective July 1, 2019, the Company adopted ASC 842 using the optional transition method and, as a result, did not recast prior period unaudited consolidated comparative financial statements. As such, all prior period amounts and disclosures are presented under ASC 840, Leases (Topic 840). Finance leases are not material to the Company's consolidated financial statements and therefore are excluded from the following disclosures.

SUPPLEMENTAL BALANCE SHEET INFORMATION

Supplemental operating lease balance sheet information is summarized as follows:


	As of
	July 3, 2020
Operating lease right-of-use assets	$	60,613

Accrued expenses⁽¹⁾	$	6,950
Operating lease liabilities	66,981
Total operating lease liabilities	$	73,931

(1) The short term portion of the Operating lease liabilities is included within Accrued expenses on the Consolidated Balance Sheet.

OTHER SUPPLEMENTAL INFORMATION

Other supplemental operating lease information is summarized as follows:


	For the Fiscal Year Ended
	July 3, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	6,929
Right-of-use assets obtained in exchange for new lease liabilities	$	19,942
Weighted average remaining lease term	9.3 years
Weighted average discount rate	4.91		%

MATURITIES OF LEASE COMMITMENTS

Maturities of operating lease commitments as of July 3, 2020 were as follows:


Fiscal Year	Totals
2021	$	9,572
2022	10,741
2023	10,272
2024	9,333
2025	9,356
Thereafter	44,763
Total lease payments	94,037
Less: imputed interest	(20,106)

Present value of operating lease liabilities	$	73,931

As previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2019, future minimum lease payments for non-cancelable operating leases were as follows:


Fiscal Year	Totals
2020	$	10,205
2021	8,949
2022	8,280
2023	7,414
2024	6,496
Thereafter	28,286
Total minimum lease payments	$	69,630

During fiscal 2020 and 2019, the Company recognized operating lease expense of $10,029 and $8,710, respectively. There were no material restrictions, covenants, sale and leaseback transactions, variable lease payments or residual value guarantees imposed by the Company's leases at July 3, 2020.

Derivatives	12 Months Ended
Derivatives	Jul. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DerivativesThe Company utilizes interest rate derivatives to mitigate interest rate exposure with respect to its financing arrangements. On January 11, 2019, the Company entered into an interest rate swap (the “Swap”) with Bank of America, N.A. for a notional amount of $175,000 in order to fix the interest rate associated with a portion of the Revolver. The Swap agreement was designated and qualified for hedge accounting treatment as a cash flow hedge. The Swap would have matured on September 28, 2023, coterminous with the maturity of the Revolver. The Swap established a fixed interest rate on the first $175,000 of the Company's outstanding borrowings against the Revolver obligation at 2.54%. The Company incurred $5,400 in expense associated with the termination of the interest rate swap in conjunction with leveraging the net proceeds generated by our follow-on equity offering to pay down the balance on the Revolver during the fourth quarter of fiscal 2019. There were no outstanding interest rate derivatives at June 30, 2019.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jul. 03, 2020
Accounting Policies [Abstract]
Principles Of Consolidation	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated. BASIS OF PRESENTATION Effective July 1, 2019, the Company's fiscal year has changed to the 52-week or 53-week period ending on the Friday closest to the last day in June. All references to fiscal 2020 are to the 53-week period from July 1, 2019 to July 3, 2020. All references to fiscal 2019 and 2018 are to the 52-week periods from July 1, 2018 to June 30, 2019 and July 1, 2017 to June 30, 2018, respectively. There have been no reclassifications of prior comparable periods due to this change.
Use Of Estimates	USE OF ESTIMATES The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Business Combinations	BUSINESS COMBINATIONS The Company utilizes the acquisition method of accounting under ASC 805, Business Combinations, (“ASC 805”), for all transactions and events in which it obtains control over one or more other businesses, to recognize the fair value of all assets and liabilities acquired, even if less than one hundred percent ownership is acquired, and in establishing the acquisition date fair value as of the measurement date for all assets and liabilities assumed. The Company also utilizes ASC 805 for the initial recognition and measurement, subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in business combinations. Other estimates include: •estimated step-ups for fixed assets and inventory; •estimated fair values of intangible assets; and •estimated income tax assets and liabilities assumed from the acquiree. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the business acquisition date, the estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the purchase price allocation period, which is generally one year from the business acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. For changes in the valuation of intangible assets between the preliminary and final purchase price allocation, the related amortization is adjusted in the period it occurs. Subsequent to the purchase price allocation period, any adjustment to assets acquired or liabilities assumed is included in operating results in the period in which the adjustment is determined.
Revenue Recognition	REVENUE RECOGNITION The Company recognizes revenue in accordance with the five step model set forth by ASC 606, Revenue from Contracts with Customers, (“ASC 606”), which involves identification of the contract(s), identification of performance obligations in the contract, determination of the transaction price, allocation of the transaction price to the previously identified performance obligations, and revenue recognition as the performance obligations are satisfied. During step one of the five step model, the Company considers whether contracts should be combined or segmented, and based on this assessment, the Company combines closely related contracts when all the applicable criteria are met. The combination of two or more contracts requires judgment in determining whether the intent of entering into the contracts was effectively to enter into a single contract, which should be combined to reflect an overall profit rate. Similarly, the Company may separate an arrangement, which may consist of a single contract or group of contracts, with varying rates of profitability, only if the applicable criteria are met. Judgment also is involved in determining whether a single contract or group of contracts may be segmented based on how the arrangement and the related performance criteria were negotiated. The conclusion to combine a group of contracts or segment a contract could change the amount of revenue and gross profit recorded in a given period. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. Certain contracts with customers require the Company to perform tests of its products prior to shipment to ensure their performance complies with the Company’s published product specifications and, on occasion, with additional customer-requested specifications. In these cases, the Company conducts such tests and, if they are completed successfully, includes a written confirmation with each order shipped. As a result, at the time of each product shipment, the Company believes that no further customer testing requirements exist and that there is no uncertainty of acceptance by its customer. The Company's contracts with customers generally do not include a right of return relative to delivered products. In certain cases, contracts are modified to account for changes in the contract specifications or requirements. In most instances, contract modifications are accounted for as part of the existing contract. Certain contracts with customers have options for the customer to acquire additional goods or services. In most cases the pricing of these options are reflective of the standalone selling price of the good or service. These options do not provide the customer with a material right and are accounted for only when the customer exercises the option to purchase the additional goods or services. If the option on the customer contract was not indicative of the standalone selling price of the good or service, the material right would be accounted for as a separate performance obligation. The Company is a leader in making trusted, secure mission-critical technologies profoundly more accessible to aerospace and defense. Revenues are derived from the sales of products that are grouped into one of the following three categories: (i) components; (ii) modules and sub-assemblies; and (iii) integrated subsystems. The Company also generates revenues from the performance of services, including systems engineering support, consulting, maintenance and other support, testing and installation. Each promised good or service within a contract is accounted for separately under the guidance of ASC 606 if they are distinct. Promised goods or services not meeting the criteria for being a distinct performance obligation are bundled into a single performance obligation with other goods or services that together meet the criteria for being distinct. The appropriate allocation of the transaction price and recognition of revenue is then determined for the bundled performance obligation. Once the Company identifies the performance obligations, the Company then determines the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. Variable consideration typically arises due to volume discounts, or other provisions that can either decrease or increase the transaction price. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the method the Company expects to better predict the amount of consideration to which it will be entitled. The determination of the estimates for variable consideration require judgment, and are based on past history with similar contracts and anticipated performance. Further, variable consideration is only included in the determination of the transaction price if it is probable that a significant reversal in the amount of revenue recognized will not occur. There are no constraints on the variable consideration recorded. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation using the standalone selling price of each distinct good or service in the contract. Standalone selling prices of the Company’s goods and services are generally not directly observable. Accordingly, the primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which the Company forecasts the expected costs of satisfying a performance obligation and then adds an appropriate margin for that distinct good or service. The objective of the expected cost plus a margin approach is to determine the price at which the Company would transact if the product or service were sold by the Company on a standalone basis. The Company's determination of the expected cost plus a margin approach involves the consideration of several factors based on the specific facts and circumstances of each contract. Specifically, the Company considers the cost to produce the deliverable, the anticipated margin on that deliverable, the selling price and profit margin for similar parts, the Company’s ongoing pricing strategy and policies, often based on the price list established and updated by management on a regular basis, the value of any enhancements that have been built into the deliverable and the characteristics of the varying markets in which the deliverable is sold. The Company analyzes the standalone selling prices used in its allocation of transaction price on contracts at least annually. Standalone selling prices will be analyzed on a more frequent basis if a significant change in the Company’s business necessitates a more frequent analysis or if the Company experiences significant variances in its selling prices. Revenue recognized at a point in time generally relates to contracts that include a combination of components, modules and sub-assemblies, integrated subsystems and related system integration or other services. Contracts with distinct performance obligations recognized at a point in time, with or without an allocation of the transaction price, totaled 73%, 77% and 79% of revenues in the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively. Revenue is recognized at a point in time for these products and services (versus over time recognition) due to the following: (i) customers are only able to consume the benefits provided by the Company upon completion of the product or service; (ii) customers do not control the product or service prior to completion; and (iii) the Company does not have an enforceable right to payment at all times for performance completed to date. Accordingly, there is little judgment in determining when control of the good or service transfers to the customer, and revenue is generally recognized upon shipment (for goods) or completion (for services). The Company engages in long-term contracts for development, production and service activities and recognizes revenue for performance obligations over time. These long-term contracts involve the design, development, manufacture, or modification of complex modules and sub-assemblies or integrated subsystems and related services. Revenue is recognized over time, due to the fact that: (i) the Company’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; and (ii) the Company’s performance creates an asset with no alternative use to the Company and the Company has an enforceable right to payment for performance completed to date. The Company considers the nature of these contracts and the types of products and services provided when determining the proper accounting for a particular contract. These contracts include both fixed-price and cost reimbursable contracts. The Company’s cost reimbursable contracts typically include cost-plus fixed fee and time and material (“T&M”) contracts. For long-term contracts, the Company typically leverages the input method, using a cost-to-cost measure of progress. The Company believes that this method represents the most faithful depiction of the Company’s performance because it directly measures value transferred to the customer. Contract estimates and estimates of any variable consideration are based on various assumptions to project the outcome of future events that may span several years. These assumptions include: the amount of time to complete the contract, including the assessment of the nature and complexity of the work to be performed; the cost and availability of materials; the availability of subcontractor services and materials; and the availability and timing of funding from the customer. The Company bears the risk of changes in estimates to complete on a fixed-price contract which may cause profit levels to vary from period to period. For cost reimburseable contracts, the Company is reimbursed periodically for allowable costs and is paid a portion of the fee based on contract progress. In the limited instances where the Company enters into T&M contracts, revenue recognized reflects the number of direct labor hours expended in the performance of a contract multiplied by the contract billing rate, as well as reimbursement of other direct billable costs. For T&M contracts, the Company recognizes revenue in the amount for which the Company has a right to invoice the customer based on the control transferred to the customer. For over time contracts, the Company recognizes anticipated contract losses as soon as they become known and estimable. Accounting for long-term contracts requires significant judgment relative to estimating total contract revenues and costs, in particular, assumptions relative to the amount of time to complete the contract, including the assessment of the nature and complexity of the work to be performed. The Company’s estimates are based upon the professional knowledge and experience of its engineers, program managers and other personnel, who review each long-term contract monthly to assess the contract’s schedule, performance, technical matters and estimated cost at completion. Changes in estimates are applied retrospectively and when adjustments in estimated contract costs are identified, such revisions may result in current period adjustments to earnings applicable to performance in prior periods. Total revenue recognized under long-term contracts over time was 27%, 23% and 21% of revenues in the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively. The Company generally does not provide its customers with rights of product return other than those related to assurance warranty provisions that permit repair or replacement of defective goods over a period of 12 to 36 months. The Company accrues for anticipated warranty costs upon product shipment. The Company does not consider activities related to such assurance warranties, if any, to be a separate performance obligation. The Company does offer separately priced extended warranties which generally range from 12 to 36 months that are treated as separate performance obligations. The transaction price allocated to extended warranties is recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract. On long-term contracts, the portion of the payments retained by the customer is not considered a significant financing component because most contracts have a duration of less than one year and payment is received as progress is made. Many of the Company's long-term contracts have milestone payments, which align the payment schedule with the progress towards completion on the performance obligation. On some contracts, the Company may be entitled to receive an advance payment, which is not considered a significant financing component because it is used to facilitate inventory demands at the onset of a contract and to safeguard the Company from the failure of the other party to abide by some or all of their obligations under the contract. All revenues are reported net of government assessed taxes (e.g., sales taxes or value-added taxes).
Contract Balances	CONTRACT BALANCES Contract balances result from the timing of revenue recognized, billings and cash collections, and the generation of contract assets and liabilities. Contract assets represent revenue recognized in excess of amounts invoiced to the customer and the right to payment is not subject to the passage of time. Contract assets are presented as unbilled receivables and costs in excess of billings on the Company’s Consolidated Balance Sheets. Contract liabilities consist of deferred product revenue, billings in excess of revenues, deferred service revenue, and customer advances. Deferred product revenue represents amounts that have been invoiced to customers, but are not yet recognizable as revenue because the Company has not satisfied its performance obligations under the contract. Billings in excess of revenues represents milestone billing contracts where the billings of the contract exceed recognized revenues. Deferred service revenue primarily represents amounts invoiced to customers for annual maintenance contracts or extended warranty contracts, which are recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract. Customer advances represent deposits received from customers on an order. Contract liabilities are included in deferred revenue and the long-term portion of deferred revenue is included within other non-current liabilities on the Company’s Consolidated Balance Sheets. Contract balances are reported in a net position on a contract-by-contract basis.
Cash And Cash Equivalents	CASH AND CASH EQUIVALENTSCash equivalents, consisting of highly liquid money market funds and U.S. government and U.S. government agency issues with original maturities of 90 days or less at the date of purchase, are carried at fair market value which approximates cost.
Fair Value Of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures at fair value certain financial assets and liabilities, including cash equivalents, restricted cash and contingent consideration. ASC 820, Fair Value Measurement and Disclosures, specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair-value hierarchy: Level 1—Quoted prices for identical instruments in active markets; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Concentration Of Credit Risk	CONCENTRATION OF CREDIT RISK Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company places its cash and cash equivalents with financial institutions of high credit quality. As of July 3, 2020 and June 30, 2019, the Company had $226,838 and $257,932, respectively, of cash and cash equivalents on deposit or invested with its financial and lending institutions. The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary. As of July 3, 2020, five customers accounted for 52% of the Company's accounts receivable, unbilled receivables and costs in excess of billings. As of June 30, 2019, five customers accounted for 56% of the Company’s accounts receivable, unbilled receivables and costs in excess of billings. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be fully collected. The allowance is based on the assessment of the following factors; customer creditworthiness, historical payment experience, age of outstanding receivables and any applicable collateral.
Inventory	INVENTORY Inventory is stated at the lower of cost (first-in, first-out) or net realizable value, and consists of materials, labor and overhead. On a quarterly basis, the Company evaluates inventory for net realizable value. Once an item is written down, the value becomes the new inventory cost basis. The Company reduces the value of inventory for excess and obsolete inventory, consisting of on-hand and non-cancelable on-order inventory in excess of estimated usage. The excess and obsolete inventory evaluation is based upon assumptions about future demand, product mix and possible alternative uses.
Segment Information	SEGMENT INFORMATION The Company uses the management approach for segment disclosure, which designates the internal organization that is used by management for making operating decisions and assessing performance as the source of its reportable segments. The Company manages its business on the basis of one reportable segment, as a leader in making trusted, secure mission-critical technologies profoundly more accessible to aerospace and defense.
Goodwill And Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill is the amount by which the cost of the net assets obtained in a business acquisition exceeded the fair values of the net identifiable assets on the date of purchase (see Note G). Goodwill is not amortized in accordance with the requirements of ASC 350, Intangibles-Goodwill and Other (“ASC 350”). Goodwill is assessed for impairment at least annually, on a reporting unit basis, or when events and circumstances occur indicating that the recorded goodwill may be impaired. If the book value of a reporting unit exceeds its fair value, the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded in an amount equal to that excess. Intangible assets result from the Company’s various business acquisitions (see Note H) and certain licensed technologies, and consist of identifiable intangible assets, including completed technology, licensing agreements, patents, customer relationships, trademarks, backlog, and non-compete agreements. Intangible assets are reported at cost, net of accumulated amortization and are either amortized on a straight-line basis over their estimated useful lives of up to 12.5 years or over the period the economic benefits of the intangible asset are consumed.
Long-Lived Assets	LONG-LIVED ASSETS Long-lived assets primarily include property and equipment, intangible assets and ROU assets. The Company regularly evaluates its long-lived assets for events and circumstances that indicate a potential impairment in accordance with ASC 360, Property, Plant, and Equipment (“ASC 360”). The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the estimated undiscounted cash flows of the asset as compared to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value.
Property And Equipment	Property and equipment are the long-lived, physical assets of the Company acquired for use in the Company’s normal business operations and are not intended for resale by the Company. These assets are recorded at cost. Renewals and betterments that increase the useful lives of the assets are capitalized. Repair and maintenance expenditures that increase the efficiency of the assets are expensed as incurred. Equipment under capital lease is recorded at the present value of the minimum lease payments required during the lease period. Depreciation is based on the estimated useful lives of the assets using the straight-line method (see Note F). As assets are retired or sold, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations. Expenditures for major software purchases and software developed for internal use are capitalized and depreciated using the straight-line method over the estimated useful lives of the related assets, which are generally three years. For software developed for internal use, all external direct costs for material and services and certain payroll and related fringe benefit costs are capitalized in accordance with ASC 350. During fiscal 2020, 2019 and 2018, the Company capitalized $905, $749 and $733 of software development costs, respectively.
Income Taxes	INCOME TAXES The Company accounts for income taxes under ASC 740, Income Taxes (“ASC 740”). The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates for the year in which the differences are expected to reverse. The Company records a valuation allowance against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. ASC 740 requires a two-step approach to recognizing and measuring uncertain tax positions. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.
Product Warranty Accrual	PRODUCT WARRANTY ACCRUAL The Company’s product sales generally include a 12 to 36 month standard hardware warranty. At time of product shipment, the Company accrues for the estimated cost to repair or replace potentially defective products. Estimated warranty costs are based upon prior actual warranty costs for substantially similar transactions and any specifically identified warranty requirements. Product warranty accrual is included as part of accrued expenses in the accompanying Consolidated Balance Sheets.
Research And Development Costs	RESEARCH AND DEVELOPMENT COSTS Research and development costs are expensed as incurred. Research and development costs are primarily made up of labor charges and prototype material and development expenses.
Stock-Based Compensation	STOCK-BASED COMPENSATIONStock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which generally represents the vesting period, and includes an estimate of the awards that will be forfeited. Stock-based compensation expense for the Company’s performance-based restricted stock awards is amortized over the requisite service period using graded vesting. The Company’s other restricted stock awards recognize expense over the requisite service period on a straight-line basis. The Company uses the Black-Scholes valuation model for estimating the fair value on the date of grant of stock options.
Retirement of Common Stock	RETIREMENT OF COMMON STOCK Stock that is repurchased or received in connection with the exercise of stock options or in order to cover tax payment obligations triggered by exercise of stock options or the vesting of restricted stock is retired immediately upon the Company’s repurchase. The Company accounts for this under the cost method and upon retirement the excess amount over par value is charged against additional paid-in capital.
Net Earnings Per Share	NET EARNINGS PER SHAREBasic net earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net earnings per share computation includes the effect of shares which would be issuable upon the exercise of outstanding stock options and the vesting of restricted stock, reduced by the number of shares which are assumed to be purchased by the Company under the treasury stock method. For all periods presented, net income is the control number for determining whether securities are dilutive or not.
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)Accumulated other comprehensive income (loss) (“AOCI”) includes foreign currency translation adjustments and pension benefit plan adjustments. The components of AOCI included $174, $(232) and $(137) of foreign currency translation adjustments for the fiscal years ended July 3, 2020, June 30, 2019 and 2018, respectively. In addition, pension benefit plan adjustments totaled $(1,768), $(2,350) and $354 for the fiscal years ended July 3, 2020, June 30, 2019 and 2018 respectively.
Foreign Currency	FOREIGN CURRENCYLocal currencies are the functional currency for the Company’s subsidiaries in Switzerland, the United Kingdom, France, Japan, Spain and Canada. The accounts of foreign subsidiaries are translated using exchange rates in effect at period-end for assets and liabilities and at average exchange rates during the period for results of operations. The related translation adjustments are reported in accumulated other comprehensive income in shareholders’ equity. Gains (losses) resulting from non-U.S. currency transactions are included in Other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income and were immaterial for all periods presented.
Recently Issued And Adopted Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), an amendment of the FASB Accounting Standards Codification. Subsequent to the issuance of ASU 2016-13, there were various updates that amended and clarified the impact of ASU 2016-13. This ASU broadens the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The amendments in this ASU will require an entity to record an allowance for credit losses for certain financial instruments and financial assets, including trade receivables, based on expected losses rather than incurred losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The use of forecasted information incorporates more timely information in the estimate of expected credit losses. For public business entities, the standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, an amendment of the FASB Accounting Standards Codification. This ASU eliminates the requirement to measure the implied fair value of goodwill by assigning the fair value of a reporting unit to all assets and liabilities within that unit (“the Step 2 test”) from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited by the amount of goodwill in that reporting unit. For public business entities, the new standard is effective for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The ASU requires prospective adoption and permits early adoption for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect this guidance to have a material impact to its consolidated financial statements. In March 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects for Accumulated Other Comprehensive Income, an amendment of the FASB Accounting Standards Codification. This ASU permits a company to reclassify the disproportionate income tax effects of the Tax Cuts and Jobs Act of 2017 on items within AOCI to retained earnings. The amounts applicable for reclassification should include the effect of the change in the U.S. Federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of the enactment of the Tax Cuts and Jobs Act of 2017 related to the items remaining in AOCI. The effect of the change in the U.S. Federal corporate income tax rate on gross valuation allowances that were originally charged to income from continuing operations shall not be included. The Company has determined that there is no activity that falls within the scope of this ASU. In August 2018, the FASB issued ASU No. 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715) Changes to the Disclosure Requirements for Defined Benefit Plans, an amendment of the FASB Accounting Standards Codification. The amendments in this ASU remove disclosures that no longer are considered cost-beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. For public business entities, the standard is effective for fiscal years ending after December 15, 2020. The ASU requires retrospective adoption and permits early adoption for all entities. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), an amendment of the FASB Accounting Standards Codification. The ASU provides guidance to determine whether to capitalize implementation costs of a cloud computing arrangement that is a service contract or expense as incurred. Costs of arrangements that do not include a software license should be accounted for as a service contract and expensed as incurred. This ASU is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The ASU permits two methods of adoption: prospectively to all implementation costs incurred after the date of adoption, or retrospectively to each prior reporting period presented. The Company does not expect this guidance to have a material impact to its consolidated financial statements or related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, an amendment of the FASB Accounting Standards Codification. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions for intraperiod tax allocations and deferred tax liabilities for equity method investments and adds guidance whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated financial statements and related disclosures. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS Effective July 1, 2019, the Company adopted ASC 842, Leases, which requires lessees to recognize a ROU asset and lease liability for most lease arrangements. This ASU supersedes existing lease guidance, including ASC 840, Leases (Topic 840). The standard mandates a modified retrospective transition method for all entities and early adoption is permitted. This ASU, among other things, allows companies to elect an optional transition method to apply the new lease standard through a cumulative-effect adjustment in the period of adoption. The Company adopted ASC 842 using the optional transition method and, as a result, did not recast prior period consolidated financial statements. All prior period amounts and disclosures remain presented under ASC 840. The Company elected the package of practical expedients which allows the Company to not reassess: 1) whether any expired or existing contracts are or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. The Company also elected the hindsight practical expedient, permitting the use of hindsight when determining the lease term and assessing impairment of ROU assets. Adoption of the new standard resulted in additional lease assets and lease liabilities on the Consolidated Balance Sheets with no cumulative impact to retained earnings and did not have a material impact on our Consolidated Statements of Operations and Comprehensive Income or Consolidated Statements of Cash Flows.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 03, 2020

Accounting Policies [Abstract]

Schedule of Product Warranty Liability

The following table presents the changes in the Company's product warranty accrual.


	Fiscal 2020		Fiscal 2019		Fiscal 2018
Beginning balance	$	1,870	$	1,336	$	1,691

Warranty assumed from APC	739		—		—
Warranty assumed from Germane	—		169		—
Warranty assumed from Themis	—		—		117



Accruals for warranties issued during the period	2,839		2,274		1,318


Settlements made during the period	(1,613)		(1,909)		(1,790)
Ending balance	$	3,835	$	1,870	$	1,336

Basic and Diluted Weighted Average Shares Outstanding

Basic and diluted weighted average shares outstanding were as follows:


	Fiscal Years
	2020	2019	2018
Basic weighted-average shares outstanding	54,546	47,831	46,719
Effect of dilutive equity instruments	569	669	752
Diluted weighted-average shares outstanding	55,115	48,500	47,471

Acquisitions (Tables)

12 Months Ended

Jul. 03, 2020

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table presents the net purchase price and the fair values of the assets and liabilities of APC on a preliminary basis:


Consideration transferred
Cash paid at closing	$	100,826
Working capital and net debt adjustment	(5,952)
Liabilities assumed	2,454
Less cash acquired	(826)
Net purchase price	$	96,502

Estimated fair value of tangible assets acquired and liabilities assumed
Cash	$	826
Accounts receivable	3,726
Inventory	11,271
Fixed assets	690
Other current and non-current assets	3,494
Accounts payable	(1,554)
Accrued expenses	(1,252)
Other current and non-current liabilities	(5,749)
Estimated fair value of net tangible assets acquired	11,452
Estimated fair value of identifiable intangible assets	33,200
Estimated goodwill	52,676
Estimated fair value of net assets acquired	97,328
Less cash acquired	(826)
Net purchase price	$	96,502

The following table presents the net purchase price and the fair values of the assets and liabilities of Athena:


	Amounts
Consideration transferred
Cash paid at closing	$	34,049
Working capital and net debt adjustment	(446)
Less cash acquired	(49)
Net purchase price	$	33,554

Fair value of tangible assets acquired and liabilities assumed
Cash	$	49
Accounts receivable	726

Fixed assets	74
Other current and non-current assets	398
Accounts payable	(48)
Accrued expenses	(520)
Other current and non-current liabilities	(600)
Deferred tax liability	(5,183)
Fair value of net tangible liabilities acquired	(5,104)
Fair value of identifiable intangible assets	23,700
Goodwill	15,007
Fair value of net assets acquired	33,603
Less cash acquired	(49)
Net purchase price	$	33,554

The following table presents the net purchase price and the fair values of the assets and liabilities of Syntonic:


	Amounts
Consideration transferred
Cash paid at closing	$	13,118

Less cash acquired	(1,118)
Net purchase price	$	12,000

Fair value of tangible assets acquired and liabilities assumed
Cash	$	1,118
Accounts receivable	281
Inventory	482
Fixed assets	31
Other current and non-current assets	6
Accounts payable	(71)
Accrued expenses	(61)

Fair value of net tangible assets acquired	1,786
Fair value of identifiable intangible assets	7,100
Goodwill	4,232
Fair value of net assets acquired	13,118
Less cash acquired	(1,118)
Net purchase price	$	12,000

The following table presents the net purchase price and the fair values of the assets and liabilities of GECO:


	Amounts
Consideration transferred
Cash paid at closing	$	36,500


Net purchase price	$	36,500

Estimated fair value of tangible assets acquired and liabilities assumed

Accounts receivable	$	1,320
Inventory	1,454
Fixed assets	459

Accounts payable	(217)
Accrued expenses	(239)

Fair value of net tangible assets acquired	2,777
Fair value of identifiable intangible assets	12,700
Goodwill	21,023
Fair value of net assets acquired	36,500

Net purchase price	$	36,500

Schedule of Business Acquisitions, by Acquisition

The following table presents the net purchase price and the fair values of the assets and liabilities of Germane:


	Amounts
Consideration transferred
Cash paid at closing	$	47,166
Working capital and net debt adjustment	(1,244)
Less cash acquired	(193)
Net purchase price	$	45,729

Fair value of tangible assets acquired and liabilities assumed
Cash	$	193
Accounts receivable	4,277
Inventory	8,575
Fixed assets	867
Other current and non-current assets	596
Accounts payable	(3,146)
Accrued expenses	(1,394)
Other current and non-current liabilities	(514)
Fair value of net tangible assets acquired	9,454
Fair value of identifiable intangible assets	12,910
Goodwill	23,558
Fair value of net assets acquired	45,922
Less cash acquired	(193)
Net purchase price	$	45,729

Leases

12 Months Ended

Jul. 03, 2020

Leases [Abstract]

Summary of Supplemental Balance Sheet Information

Supplemental operating lease balance sheet information is summarized as follows:


	As of
	July 3, 2020
Operating lease right-of-use assets	$	60,613

Accrued expenses⁽¹⁾	$	6,950
Operating lease liabilities	66,981
Total operating lease liabilities	$	73,931

(1) The short term portion of the Operating lease liabilities is included within Accrued expenses on the Consolidated Balance Sheet.

Other supplemental operating lease information is summarized as follows:


	For the Fiscal Year Ended
	July 3, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	6,929
Right-of-use assets obtained in exchange for new lease liabilities	$	19,942
Weighted average remaining lease term	9.3 years
Weighted average discount rate	4.91		%

Schedule of Operating Lease Maturity

Maturities of operating lease commitments as of July 3, 2020 were as follows:


Fiscal Year	Totals
2021	$	9,572
2022	10,741
2023	10,272
2024	9,333
2025	9,356
Thereafter	44,763
Total lease payments	94,037
Less: imputed interest	(20,106)

Present value of operating lease liabilities	$	73,931

Minimum Lease Payments under Non Cancelable Operating Leases

As previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2019, future minimum lease payments for non-cancelable operating leases were as follows:


Fiscal Year	Totals
2020	$	10,205
2021	8,949
2022	8,280
2023	7,414
2024	6,496
Thereafter	28,286
Total minimum lease payments	$	69,630

Employee Benefit Plans (Tables)

12 Months Ended

Jul. 03, 2020

Retirement Benefits [Abstract]

Schedule of Expected Benefit Payments

The following table reflects the total pension benefits expected to be paid from the Plan, which is funded from contributions by participants and the Company.


Fiscal Year	Total
2021	$	900
2022	1,059
2023	1,401
2024	1,253
2025	1,040
Thereafter (next 5 years)	6,423
Total	$	12,076

Schedule of Net Benefit Costs

The following table outlines the components of net periodic benefit cost of the Plan for the fiscal years ended July 3, 2020 and June 30, 2019:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Service cost	$	1,375	$	903
Interest cost	125		156
Expected return on assets	(233)		(183)
Amortization of prior service cost	(63)		(61)
Amortization net of loss	33		—
Net periodic benefit cost	$	1,237	$	815

Schedule of Assumptions Used

The following table reflects the related actuarial assumptions used to determine net periodic benefit cost of the Plan for the fiscal years ended July 3, 2020 and June 30, 2019:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Discount rate	0.30	%	0.50	%
Expected rate of return on Plan assets	1.50	%	1.50	%
Expected inflation	1.20	%	1.20	%
Rate of compensation increases	1.50	%	1.50	%

Schedule of Changes in Projected Benefit Obligations

The following table presents the change in projected benefit obligation for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Projected benefit obligation, beginning	$	24,274	$	18,127
Service cost	1,375		903
Interest cost	125		156

Employee contributions	1,916		3,577
Actuarial loss	2,387		2,859
Benefits paid	(906)		(1,607)

Foreign exchange loss	784		259
Projected benefit obligation at end of year	$	29,955	$	24,274

Schedule of Changes in Fair Value of Plan Assets

The following table presents the change in Plan assets for the periods presented:


	Fiscal Years Ended
	July 3, 2020		June 30, 2019
Fair value of Plan assets, beginning	$	15,088	$	12,029
Actual return on Plan assets	582		167
Company contributions	911		741

Employee contributions	1,916		3,577
Benefits paid	(906)		(1,607)
Foreign exchange gain	487		181
Fair value of Plan assets at end of year	$	18,078	$	15,088

Schedule of Net Funded Status

The following table presents the Company's reconciliation of funded status for the period presented:


	As of
	July 3, 2020		June 30, 2019
Projected benefit obligation at end of year	$	29,955	$	24,274
Fair value of plan assets at end of year	18,078		15,088
Funded status	$	(11,877)	$	(9,186)

Description of Business (Details) $ / shares in Units, $ in Thousands					12 Months Ended
	Sep. 23, 2019 USD ($)	Apr. 18, 2019 USD ($)	Jan. 29, 2019 USD ($)	Jul. 31, 2018 USD ($)	Jul. 03, 2020 USD ($) program contractor $ / shares	Jun. 30, 2019 USD ($) $ / shares	Jun. 30, 2018 USD ($)	May 31, 2019 $ / shares	May 29, 2019 USD ($)
Number of programs using products and services, more than 300 \| program					300
Number of contractors using products and services, more than 25 \| contractor					25
Common stock, par value (in dollars per share) \| $ / shares					$ 0.01	$ 0.01
Equity Securities, FV-NI									$ 6,900
Price of stock sold (in dollars per share) \| $ / shares								$ 69.00
Proceeds from equity offering, net					$ 0	$ 454,343	$ 0
The Athena Group, Inc And Syntonic Microwave LLC
Total purchase price		$ 46,000
American Panel Corporation
Total purchase price	$ 100,000
GECO Avionics, LLC
Total purchase price			$ 36,500
Germane Systems, LC
Total purchase price				$ 45,000

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Deferred Revenue Arrangement [Line Items]
Percentage of revenue recognized	73.00%
Contract with customer, liability	$ 19,892	$ 12,362
Contract with customer, liability, revenue recognized	10,216
Revenue, remaining performance obligation, amount	$ 280,346
Contract Accounting
Deferred Revenue Arrangement [Line Items]
Percentage of revenue recognized	73.00%	77.00%	79.00%
Transferred over Time
Deferred Revenue Arrangement [Line Items]
Percentage of revenue recognized	27.00%	23.00%	21.00%
Minimum
Deferred Revenue Arrangement [Line Items]
Product warranty period	12 years
Extended product warranty, period	12 months
Maximum
Deferred Revenue Arrangement [Line Items]
Product warranty period	36 months
Extended product warranty, period	36 months

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details)	12 Months Ended
	Jul. 03, 2020
Maximum
Restricted Cash and Cash Equivalents Items [Line Items]
Maturity of cash and cash equivalents	90 days

Summary of Significant Accounting Policies - Restricted Cash (Details) $ in Thousands	Jun. 30, 2017 USD ($)
Accounting Policies [Abstract]
Restricted cash	$ 0

Summary of Significant Accounting Policies - Concentration of Risk (Details) $ in Thousands	12 Months Ended
	Jul. 03, 2020 USD ($) customer	Jun. 30, 2019 USD ($) customer
Concentration Risk [Line Items]
Cash and cash equivalent \| $	$ 226,838	$ 257,932
Customer Concentration Risk \| Accounts Receivable, Unbilled Receivables, and Costs in Excess of Billings [Member]
Concentration Risk [Line Items]
Concentration risk, number \| customer	5	5
Concentration risk, percent	52.00%	56.00%

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Segment Information (Details) - segment	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Number of reportable segments	1	1

Summary of Significant Accounting Policies - Intangible Assets (Detail)	12 Months Ended
	Jul. 03, 2020
Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, estimated useful lives	12 years 6 months

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Property and equipment, estimated useful lives	3 years
Capitalized software development cost	$ 905	$ 749	$ 733

Summary of Significant Accounting Policies - Income Taxes (Details)	Jul. 03, 2020
Accounting Policies [Abstract]
Minimum likelihood of tax benefits being recognized upon ultimate settlement	50.00%

Summary of Significant Accounting Policies - Changes in Product Warranty Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 1,870	$ 1,336	$ 1,691
Accruals for warranties issued during the period	2,839	2,274	1,318
Settlements made during the period	(1,613)	(1,909)	(1,790)
Ending Balance	$ 3,835	1,870	1,336
Minimum
Product Warranty Liability [Line Items]
Product warranty term	12 months
Maximum
Product Warranty Liability [Line Items]
Product warranty term	36 months
American Panel Corporation
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty assumed from CES	$ 739	0	0
Germane Systems, LC
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty assumed from CES	0	169	0
Themis
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty assumed from CES	$ 0	$ 0	$ 117

Summary of Significant Accounting Policies - Basic and Diluted Weighted Average Shares Outstanding (Detail) - shares shares in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Basic weighted-average shares outstanding	54,546	47,831	46,719
Effect of dilutive equity instruments	569	669	752
Diluted weighted-average shares outstanding	55,115	48,500	47,471

Summary of Significant Accounting Policies - Net Earnings Per Share Additional Information (Details) - shares shares in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Common stock excluded from diluted earning per share (in shares)	8	32	329

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Details) - USD ($)	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Operating Leases, Future Minimum Payments Due		$ 69,630,000
Accumulated other comprehensive income adjustment for foreign currency	$ 174,000	(232,000)	$ (137,000)
Accumulated other comprehensive income adjustment for pension plans	$ (1,768,000)	$ (2,350,000)	$ 354,000
Accumulated other comprehensive income, available-for-sale securities gains (losses)				$ 0

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References + Details

Acquisitions - Narrative (Details) - USD ($) $ in Thousands					12 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Sep. 23, 2019	Apr. 18, 2019	Jan. 29, 2019	Jul. 31, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Goodwill					$ 614,076	$ 562,146
Acquisition of businesses, net of cash acquired			$ 36,500		$ 96,502	$ 127,083	$ 185,396
Customer Relationships
Business Acquisition [Line Items]
Acquired intangible assets, estimated useful lives					11 years 4 months 24 days	11 years 4 months 24 days
American Panel Corporation
Business Acquisition [Line Items]
Total purchase price	$ 100,000
Identifiable intangible assets	$ 33,200
Acquired intangible assets, estimated useful lives	15 years
Goodwill	$ 52,676
Revenue from acquiree since acquisition date					$ 27,383
Earnings (loss) of acquiree since acquisition date					$ 3,309
Goodwill acquired, tax deductible amount	51,553
Acquisition of businesses, net of cash acquired	96,502
Working capital and net debt adjustment	5,952
American Panel Corporation \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets	$ 20,600
Acquired intangible assets, estimated useful lives	11 years				11 years
American Panel Corporation \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets	$ 10,400
Acquired intangible assets, estimated useful lives	11 years				11 years
American Panel Corporation \| Order or Production Backlog
Business Acquisition [Line Items]
Identifiable intangible assets	$ 2,200
Acquired intangible assets, estimated useful lives	2 years				2 years
The Athena Group, Inc
Business Acquisition [Line Items]
Total purchase price		$ 34,000
Identifiable intangible assets		23,700
Goodwill		15,007
Acquisition of businesses, net of cash acquired		33,554
Working capital and net debt adjustment		446
The Athena Group, Inc \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets		$ 23,700
Acquired intangible assets, estimated useful lives		11 years
Syntonic Microwave LLC
Business Acquisition [Line Items]
Identifiable intangible assets		$ 7,100
Acquired intangible assets, estimated useful lives		15 years
Goodwill		$ 4,232
Goodwill acquired, tax deductible amount					$ 2,986
Acquisition of businesses, net of cash acquired		12,000
Syntonic Microwave LLC \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets		$ 4,200
Acquired intangible assets, estimated useful lives		10 years
Syntonic Microwave LLC \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets		$ 2,500
Acquired intangible assets, estimated useful lives		9 years
Syntonic Microwave LLC \| Order or Production Backlog
Business Acquisition [Line Items]
Identifiable intangible assets		$ 400
Acquired intangible assets, estimated useful lives		1 year
GECO Avionics, LLC
Business Acquisition [Line Items]
Total purchase price			36,500
Identifiable intangible assets			$ 12,700
Acquired intangible assets, estimated useful lives			15 years
Goodwill			$ 21,023
Goodwill acquired, tax deductible amount					19,766
Acquisition of businesses, net of cash acquired			36,500
GECO Avionics, LLC \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets			$ 6,900,000
Acquired intangible assets, estimated useful lives			11 years
GECO Avionics, LLC \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets			$ 4,800,000
Acquired intangible assets, estimated useful lives			10 years
GECO Avionics, LLC \| Order or Production Backlog
Business Acquisition [Line Items]
Identifiable intangible assets			$ 1,000,000
Acquired intangible assets, estimated useful lives			2 years
Germane Systems, LC
Business Acquisition [Line Items]
Total purchase price				$ 45,000
Identifiable intangible assets				$ 12,910
Acquired intangible assets, estimated useful lives				15 years
Goodwill				$ 23,558
Goodwill acquired, tax deductible amount					$ 20,555
Acquisition of businesses, net of cash acquired				45,729
Working capital and net debt adjustment				1,244
Germane Systems, LC \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets				$ 8,500
Acquired intangible assets, estimated useful lives				11 years
Germane Systems, LC \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets				$ 4,200
Acquired intangible assets, estimated useful lives				8 years
Germane Systems, LC \| Order or Production Backlog
Business Acquisition [Line Items]
Identifiable intangible assets				$ 210
Acquired intangible assets, estimated useful lives				1 year

Acquisitions - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands					12 Months Ended
	Sep. 23, 2019	Apr. 18, 2019	Jan. 29, 2019	Jul. 31, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Business Combination, Consideration Transferred [Abstract]
Net purchase price			$ 36,500		$ 96,502	$ 127,083	$ 185,396
Fair value of tangible assets acquired and liabilities assumed
Goodwill					614,076	562,146
Net purchase price			$ 36,500		96,502	$ 127,083	$ 185,396
American Panel Corporation
Business Acquisition [Line Items]
Acquired intangible assets, estimated useful lives	15 years
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing	$ 100,826
Working capital and net debt adjustment	(5,952)
Liabilities assumed	2,454
Less cash acquired	(826)
Net purchase price	96,502
Fair value of tangible assets acquired and liabilities assumed
Cash	826
Accounts receivable	3,726
Inventory	11,271
Fixed assets	690
Other current and non-current assets	3,494
Accounts payable	(1,554)
Accrued expenses	(1,252)
Other current and non-current liabilities	(5,749)
Fair value of net tangible liabilities acquired	11,452
Fair value of identifiable intangible assets	33,200
Goodwill	52,676
Fair value of net assets acquired	97,328
Less cash acquired	(826)
Net purchase price	$ 96,502
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Earnings (loss) of acquiree since acquisition date					3,309
Revenue from acquiree since acquisition date					$ 27,383
The Athena Group, Inc
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing		$ 34,049
Working capital and net debt adjustment		(446)
Less cash acquired		(49)
Net purchase price		33,554
Fair value of tangible assets acquired and liabilities assumed
Cash		49
Accounts receivable		726
Fixed assets		74
Other current and non-current assets		398
Accounts payable		(48)
Accrued expenses		(520)
Other current and non-current liabilities		(600)
Deferred tax liability		(5,183)
Fair value of net tangible liabilities acquired		(5,104)
Fair value of identifiable intangible assets		23,700
Goodwill		15,007
Fair value of net assets acquired		33,603
Less cash acquired		(49)
Net purchase price		$ 33,554
Syntonic Microwave LLC
Business Acquisition [Line Items]
Acquired intangible assets, estimated useful lives		15 years
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing		$ 13,118
Less cash acquired		(1,118)
Net purchase price		12,000
Fair value of tangible assets acquired and liabilities assumed
Cash		1,118
Accounts receivable		281
Inventory		482
Fixed assets		31
Other current and non-current assets		6
Accounts payable		(71)
Accrued expenses		(61)
Fair value of net tangible liabilities acquired		1,786
Fair value of identifiable intangible assets		7,100
Goodwill		4,232
Fair value of net assets acquired		13,118
Less cash acquired		(1,118)
Net purchase price		$ 12,000
GECO Avionics, LLC
Business Acquisition [Line Items]
Acquired intangible assets, estimated useful lives			15 years
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing			$ 36,500
Net purchase price			36,500
Fair value of tangible assets acquired and liabilities assumed
Accounts receivable			1,320
Inventory			1,454
Fixed assets			459
Accounts payable			(217)
Accrued expenses			(239)
Fair value of net tangible liabilities acquired			2,777
Fair value of identifiable intangible assets			12,700
Goodwill			21,023
Fair value of net assets acquired			36,500
Net purchase price			$ 36,500
Germane Systems, LC
Business Acquisition [Line Items]
Acquired intangible assets, estimated useful lives				15 years
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing				$ 47,166
Working capital and net debt adjustment				(1,244)
Less cash acquired				(193)
Net purchase price				45,729
Fair value of tangible assets acquired and liabilities assumed
Cash				193
Accounts receivable				4,277
Inventory				8,575
Fixed assets				867
Other current and non-current assets				596
Accounts payable				(3,146)
Accrued expenses				(1,394)
Other current and non-current liabilities				(514)
Fair value of net tangible liabilities acquired				9,454
Fair value of identifiable intangible assets				12,910
Goodwill				23,558
Fair value of net assets acquired				45,922
Less cash acquired				(193)
Net purchase price				$ 45,729

Inventory - Additional Information (Details) $ in Thousands	12 Months Ended
Inventory - Additional Information (Details) $ in Thousands	Jul. 03, 2020 USD ($)
Inventory Disclosure [Abstract]
Increase in inventory	$ 40,981

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 10,029	$ 8,710

Leases - Summary of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 60,613	$ 0
Operating lease liability, current	6,950
Operating lease liability, noncurrent	66,981	$ 0
Total operating lease liabilities	$ 73,931
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Cash paid for amounts included in the measurement of operating lease liabilities	$ 6,929
Right-of-use assets obtained in exchange for new lease liabilities	$ 19,942
Weighted average remaining lease term	9 years 3 months 18 days
Weighted average discount rate	4.91%

Leases - Schedule of Operating Lease Maturity (Details) $ in Thousands	Jul. 03, 2020 USD ($)
Leases [Abstract]
2021	$ 9,572
2022	10,741
2023	10,272
2024	9,333
2025	9,356
Thereafter	44,763
Total lease payments	94,037
Less: imputed interest	(20,106)
Present value of operating lease liabilities	$ 73,931

Leases - Minimum Lease Payments under Non Cancelable Operating Leases (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 10,205
2021	8,949
2022	8,280
2023	7,414
2024	6,496
Thereafter	28,286
Total minimum lease payments	$ 69,630

- Schedule of Expected Future Pension Benefits (Details) - Foreign Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 1,237	$ 815
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2018	900
2019	1,059
2020	1,401
2021	1,253
2022	1,040
Thereafter (next 5 years)	6,423
Total	$ 12,076

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Amortization of Gain (Loss)	$ 33	$ 0
Foreign Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1,375	903
Interest cost	125	156
Expected return on assets	(233)	(183)
Amortization of prior service cost	(63)	(61)
Net periodic benefit cost	$ 1,237	$ 815

Employee Benefit Plans - Schedule of Related Actuarial Assumptions (Details) - Foreign Plan [Member]	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.30%	0.50%
Expected rate of return on Plan assets	1.50%	1.50%
Expected inflation	1.20%	1.20%
Rate of compensation increases	1.50%	1.50%

Employee Benefit Plans - Schedule of Projected Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	$ 784	$ 259
Foreign Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning	24,274	18,127
Service cost	1,375	903
Interest cost	125	156
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,916	3,577
Actuarial loss	2,387	2,859
Defined Benefit Plan, Benefit Obligation, Benefits Paid	906	1,607
Projected benefit obligation at end of year	$ 29,955	$ 24,274

Employee Benefit Plans - Schedule of Change in Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Company contributions	$ 911
Foreign Plan [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of Plan assets, beginning	15,088	$ 12,029
Actual return on Plan assets	582	167
Company contributions	911	741
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,916	3,577
Defined Benefit Plan, Benefit Obligation, Benefits Paid	906	1,607
Foreign exchange gain	487	181
Fair value of Plan assets at end of year	$ 18,078	$ 15,088

Employee Benefit Plans - Reconciliation of Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$ 1,768	$ 2,350	$ (354)
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.30%	0.50%
Projected benefit obligation at end of year	$ 29,955	$ 24,274	18,127
Fair value of plan assets at end of year	18,078	15,088	$ 12,029
Funded status	$ (11,877)	$ (9,186)
Rate of compensation increases	1.50%	1.50%

- 401(k) Plan (Details) - USD ($) $ in Thousands	12 Months Ended
- 401(k) Plan (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Defined Contribution Plan Disclosure [Line Items]
Employer contributions	$ 5,954	$ 4,525	$ 3,684
Maximum
Defined Contribution Plan Disclosure [Line Items]
Employee Contribution of eligible compensation		3.00%	3.00%
401(k) Plan \| Maximum
Defined Contribution Plan Disclosure [Line Items]
Employee Contribution of eligible compensation	3.00%

Operating Segment, Geographic Information and Significant Customers - Additional Information (Details) - segment	12 Months Ended
	Jul. 03, 2020	Jun. 30, 2019
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1	1

Operating Segment, Geographic Information and Significant Customers - Net Revenue by End Market (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 03, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 217,377	$ 208,016	$ 193,913	$ 177,304	$ 176,963	$ 174,636	$ 159,089	$ 144,056	$ 796,610	$ 654,744	$ 493,184
Domestic
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues									704,722	580,935	410,050
International/Foreign Military Sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues									$ 91,888	$ 73,809	$ 83,134

Operating Segment, Geographic Information and Significant Customers - Net Revenue by End Application (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 03, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Net revenues	$ 217,377	$ 208,016	$ 193,913	$ 177,304	$ 176,963	$ 174,636	$ 159,089	$ 144,056	$ 796,610	$ 654,744	$ 493,184
Radar End User Applications
Revenue from External Customer [Line Items]
Net revenues									233,967	164,046	159,737
Electronic Warfare End User Applications
Revenue from External Customer [Line Items]
Net revenues									161,782	128,841	114,801
Other Sensor And Effector Applications [Member]
Revenue from External Customer [Line Items]
Net revenues									105,175	90,245	48,088
Total Sensor And Effector Applications [Member]
Revenue from External Customer [Line Items]
Net revenues									500,924	383,132	322,626
C4I Applications [Member]
Revenue from External Customer [Line Items]
Net revenues									207,000	183,172	87,414
Other End User Applications
Revenue from External Customer [Line Items]
Net revenues									$ 88,686	$ 88,440	$ 83,144

Operating Segment, Geographic Information and Significant Customers - Net Revenue by Product Grouping (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 03, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Net revenues	$ 217,377	$ 208,016	$ 193,913	$ 177,304	$ 176,963	$ 174,636	$ 159,089	$ 144,056	$ 796,610	$ 654,744	$ 493,184
Components
Revenue from External Customer [Line Items]
Net revenues									225,292	184,870	142,982
Modules and Sub-assemblies
Revenue from External Customer [Line Items]
Net revenues									203,432	180,873	194,377
Integrated Subsystems
Revenue from External Customer [Line Items]
Net revenues									$ 367,886	$ 289,001	$ 155,825

Operating Segment, Geographic Information and Significant Customers - Net Revenue by Platform (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jul. 03, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 03, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Net revenues	$ 217,377	$ 208,016	$ 193,913	$ 177,304	$ 176,963	$ 174,636	$ 159,089	$ 144,056	$ 796,610	$ 654,744	$ 493,184
Airborne
Revenue from External Customer [Line Items]
Net revenues									402,670	306,412	242,611
Land
Revenue from External Customer [Line Items]
Net revenues									102,956	83,034	41,841
Naval
Revenue from External Customer [Line Items]
Net revenues									157,225	136,966	110,620
Other
Revenue from External Customer [Line Items]
Net revenues									$ 133,759	$ 128,332	$ 98,112

Subsequent Events (Details) $ in Thousands	Jul. 31, 2018 USD ($)
Germane Systems, LC
Subsequent Event [Line Items]
Cash paid at closing	$ 47,166