XML 74 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
PRODUCT WARRANTY OBLIGATIONS (Notes)
12 Months Ended
Jun. 30, 2012
Standard Product Warranty Disclosure [Abstract]  
PRODUCT WARRANTY OBLIGATIONS
PRODUCT WARRANTY OBLIGATIONS
 
The Company records a liability for product warranty obligations at the time of sale based upon historical warranty experience.  The Company’s products carry a lifetime warranty except for the recently launched Striva product line which has a 90 day warranty.  The Company also records a liability for specific warranty matters when they become known and are reasonably estimated.  The Company’s current and non-current product warranty obligations are included in accrued liabilities and other liabilities, respectively, in the consolidated balance sheets.  However, the Company is continuously releasing new and more complex and technologically advanced products. Even though some of these products have a shorter warranty period, it is at least reasonably possible that products could be released with certain unknown quality or design problems resulting in higher than expected warranty and related costs. These costs could have a materially adverse effect on the Company's results of operations and financial condition in the near term.

Changes to the product warranty obligations for the years ended June 30, 2012 and 2011 are as follows:
Year Ended June 30,
 
Balance,
Beginning
of Year
 
Provision
Charged to
Expense
 
Warranty
Expenses
Incurred
 
Balance,
End of Year
2012
 
$
1,164,108

 
633,956

 
(665,564
)
 
$
1,132,500

2011
 
$
1,017,450

 
622,320

 
(475,662
)
 
$
1,164,108