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INCOME TAX
3 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
INCOME TAX (IN THOUSANDS, EXCEPT EARNINGS PER SHARE AND NUMBER OF SHARES)

The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of ASC Topic 740 Income Tax. The Company had an income tax benefit of $46 for the three months ended September 30, 2014 as compared to $43 for the same period in the last fiscal year.

 

The Company accrues penalties and interest related to unrecognized tax benefits when necessary as a component of penalties and interest expenses, respectively.  The Company had not accrued any penalties or interest expenses relating to unrecognized benefits at September 30, 2014 and June 30, 2014.

 

The major tax jurisdictions in which the Company files income tax returns are the United States, China, Singapore, Malaysia and Thailand.  The statute of limitations, in general, is open for years 2004 to 2014 for tax authorities in those jurisdictions to audit or examine income tax returns.  The Company is under annual review by the government of Singapore.  However, the Company is not currently under tax examination in any other jurisdiction.