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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net Income $ 5,670 $ 8,079
Non-cash items included in net income    
Depreciation and amortization 5,943 6,631
Deferred income taxes 332 2,637
Deferred compensation plan 1,096 296
Stock compensation expense 1,317 494
Issuance of common shares as compensation 242 225
Gain on disposition of fixed assets 0 (8,510)
Allowance for doubtful accounts (15) (105)
Inventory obsolescence reserve 1,226 1,720
Changes in certain assets and liabilities    
Accounts receivable (6,867) 8,322
Inventories (2,817) (1,981)
Refundable income taxes (444) (1,170)
Accounts payable 10,450 1,015
Accrued expenses and other 1,269 (258)
Customer prepayments 7,232 (298)
Net cash flows provided by operating activities 24,634 17,097
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (1,517) (1,538)
Proceeds from the sale of fixed assets 0 20,040
Net cash flows (used in) provided by investing activities (1,517) 18,502
Cash Flows from Financing Activities    
Payments of long-term debt 0 (169,671)
Borrowings of long-term debt 0 138,049
Cash dividends paid (3,963) (3,958)
Shares withheld for employees' taxes (28) (124)
Payments on financing lease obligations (178) 0
Proceeds from stock option exercises 962 174
Net cash flows used in financing activities (3,207) (35,530)
Change related to foreign currency 101 (215)
Increase (Decrease) in cash and cash equivalents 20,011 (146)
Cash and cash equivalents at beginning of period 3,517 966
Cash and cash equivalents at end of period $ 23,528 $ 820