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Note 15 - Income Taxes
 9 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE 15 – INCOME TAXES
 
The Company's effective income tax rate is based on expected income, statutory rates and tax planning opportunities available in the various jurisdictions in which it operates. For interim financial reporting, the Company estimates the annual income tax rate based on projected taxable income for the full year and records a quarterly income tax provision or benefit in accordance with the anticipated annual rate. The Company refines the estimates of the year's taxable income as new information becomes available, including actual year-to-date financial results. This continual estimation process often results in a change to the expected effective income tax rate for the year. When this occurs, the Company adjusts the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the expected income tax rate. Significant judgment is required in determining the effective tax rate and in evaluating tax positions.
 
 
   
Three Months Ended
March 31
    
Nine Months Ended
March 31
  
   
2016
    
2015
    
2016
    
2015
  
Reconciliation to effective tax rate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Provision for income taxes at the anticipated
annual tax rate
     34.4
%
     45.0
%
     34.5
%
     41.4
%
Impact of foreign operations
     --       --       --       (0.2
)
Enactment of tax law changes
     --       --       (0.9
)
     (2.6
)
Uncertain tax positions
     (2.9
)
     (0.9
)
     (0.5
)
     (1.2
)
Other
     (1.0
)
     (12.0
)
     (0.8
)
     (3.3
)
Effective tax rate
     30.5
%
     32.1
%
     32.3
%
     34.1
%
 
The Protecting Americans from Tax Hike Act of 2015 that made permanent the tax credit for research and development (“R&D”) retroactive back to January 1, 2015, was signed into law in December 2015. Therefore, the Company recorded an estimated R&D tax credit benefit of $111,000 in December 2015 for the second half of fiscal year 2015, and estimated an R&D tax credit in its calculation of the estimated income tax rate for fiscal 2016. Other items in the December 2015 tax bill are expected to have an immaterial impact on the Company’s income tax expense.