Note 8 - Warranties

6 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

8)     Warranties

The expected cost associated with warranty obligations on our products is recorded as a component of cost of sales when the revenue is recognized. The Company’s estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Since warranty estimates are forecasts based on the best available information, claims costs may differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable.

The changes in warranty reserve from continuing operations, which are recorded as a component of accrued liabilities, as of December 31, 2020 and June 30, 2020 were as follows (in thousands):

	December 31, 2020			June 30, 2020
Balance at beginning of year	$	1,781		$	1,911
Acquisitions and other		104			(86	)
Warranty expense		1,012			1,783
Warranty claims		(1,026	)		(1,827	)
Balance at end of period	$	1,871		$	1,781