XML 23 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income (loss) $ 9,592,000 $ (16,339,000)
Non-cash items included in net income (loss)    
Depreciation and amortization 8,654,000 10,221,000
Deferred income taxes 3,925,000 (6,370,000)
Impairment of goodwill 20,165,000
Deferred compensation plan 473,000 266,000
Stock compensation expense 599,000 981,000
Issuance of common shares as compensation 300,000 355,000
Gain on disposition of fixed assets (8,521,000) (32,000)
Allowance for doubtful accounts 19,000 776,000
Inventory obsolescence reserve 2,454,000 3,607,000
Changes in certain assets and liabilities    
Accounts receivable 16,340,000 74,000
Inventories 2,246,000 (326,000)
Refundable income taxes (1,893,000) 902,000
Accounts payable (3,883,000) 684,000
Accrued expenses and other (546,000) (4,171,000)
Customer prepayments (47,000) 698,000
Net cash flows provided by operating activities 29,712,000 11,491,000
Cash Flows from Investing Activities    
Proceeds from the sale of fixed assets 20,150,000 32,000
Purchases of property, plant and equipment (2,739,000) (2,618,000)
Net cash flows provided by (used in) investing activities 17,411,000 (2,586,000)
Cash Flows from Financing Activities    
Payments of long-term debt (204,676,000) (126,431,000)
Borrowings of long-term debt 165,135,000 120,612,000
Cash dividends paid (5,276,000) (5,184,000)
Shares withheld for employees' taxes (152,000) (114,000)
Payments on financing lease obligations (39,000)
Proceeds from stock option exercises 612,000 0
Net cash flows used in financing activities (44,396,000) (11,117,000)
Change related to foreign currency (176,000)
Increase (decrease) in cash and cash equivalents 2,551,000 (2,212,000)
Cash and cash equivalents at beginning of period 966,000 3,178,000
Cash and cash equivalents at end of period $ 3,517,000 $ 966,000