INCOME TAXES

9 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES:

 A summary of the income tax (expense) benefit and corresponding effective tax rate is as follows:

	Three Months Ended March 31,						Nine Months Ended March 31,
_______________________________________________________________________________	2024			2023			2024			2023
	(Dollars in thousands)
Income tax (expense) benefit	$	(54)		$	241		$	201		$	213
Effective tax rate	(2.3)		%	10.0		%	8.3		%	3.2		%

The recorded tax provision and effective tax rate for the three and nine months ended March 31, 2024 and 2023 were different than what would normally be expected, primarily due to the impact of the deferred tax valuation allowance. In addition, the Company recognized a one-time tax benefit of $0.2 million in fiscal year 2024 as a result of an income tax audit of foreign subsidiaries.

With limited exceptions, due to net operating loss carryforwards, our federal, state, and foreign tax returns are open to examination for all years since 2014, 2013 and 2016, respectively.