ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

12 Months Ended

Jun. 30, 2013

Accounts Receivable And Allowance For Doubtful Accounts

Note 7 - ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS (In Thousands)

Accounts receivable are customer obligations due under normal trade terms. The Company performs continuing credit evaluations of its customers’ financial conditions, and although management generally does not require collateral, letters of credit may be required from its customers in certain circumstances.

Senior management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. Management includes any accounts receivable balances that are determined to be uncollectible in the allowance for doubtful accounts.  After all attempts to collect a receivable have failed, the receivable is written off against the allowance.  Based on the information available to us, management believed the allowance for doubtful accounts as of June 30, 2013 and June 30, 2012 was adequate.  

The following table represents the changes in the allowance for doubtful accounts:

	For the Year Ended June 30,
	2013			2012
Beginning	$	122		$	69
Additions charged to expenses		196			113
Recovered		(131	)		(59	)
Currency translation effect		(48	)		(1	)
Ending	$	139		$	122