Foreign Exchange Forward Contracts

12 Months Ended

Jun. 30, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Foreign Exchange Forward Contracts

12. Foreign Exchange Forward Contracts

The Company has used derivative financial instruments to manage exposures to foreign currency. The Company’s objective for holding derivatives is to use the most effective methods to minimize the impact of these exposures. The Company does not enter into derivatives for speculative or trading purposes.

At June 30, 2016 and 2015, the Company did not have any forward foreign currency contracts.  

Foreign currency transaction gains and losses from operations were a gain of $1.3 million in fiscal 2016 and losses of $1.0 million and $1.5 million in fiscal years 2015 and 2014, respectively.