Note O - Subsequent Events	12 Months Ended
Jun. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	O . Subsequent Events On July 8, 2020, we purchased four forward contracts designated and effective as cash flow hedges to protect against the foreign currency exchange risk inherent in a portion of our forecasted sales transactions denominated in Euros. The four contracts expire quarterly beginning November 2020 and ending August 2021. The forward contracts have a notional amount of €17.3 million and a weighted average forward rate of 1.1326. Effective July 16, 2020, the Board of Directors approved and adopted a Non-Qualified Incentive Plan. The purpose of the Non-Qualified Incentive Plan is to enhance the long-term stockholder value of NAI by offering opportunities to directors, officers, employees and eligible consultants of NAI to receive a cash award that may be subject to conditions precedent or subsequent that must be met before the NAI is obligated to make the payment, and to provide to the Human Resources Committee and the Board of Directors the ability to make deferred cash payments or other cash awards in order to encourage Participants to serve NAI or to remain in the service of NAI, or to assist NAI to achieve results determined by the Human Resources Committee or the Board of Directors to be in NAI's best interest. The Non-Qualified Incentive Plan provides for the Human Resources Committee or the Board of Directors to award and administer unsecured and deferred cash awards subject to whatever conditions are determined by the Human Resources Committee or the Board of Directors with each award. The terms of each award, including the amount and any conditions that must be met to be entitled to payment of the award, are set forth in an Award Agreement. The Non-Qualified Incentive Plan provides the Board of Directors with the discretion to set aside assets to fund the Non-Qualified Incentive Plan although that has not been done to date. On July 16, 2020, deferred cash awards were granted to various officers, directors and employees of NAI pursuant to the Non-Qualified Incentive Plan, each providing for a cash payment to the Participant one third of which shall be paid on the one year, and two year, and three year anniversary of the date of the award, provided on the date of payment the Participant has been employed since the date of the award, and continues to be a member of the Board of Directors, or an employee of NAI. In the event a Participant ceases to be an employee of NAI or a member of the Board of Directors of NAI prior to any remaining date of payment no further payments shall be made in connection with the award. On July 23, 2020, the United States Department of Treasury issued final regulations which provide an exclusion to GILTI. We are currently evaluating the impact these regulations will have on our consolidated financial statements. The detriment or benefit, if any, of applying these regulations will be reflected in our first quarter interim financial statements for fiscal year ending June 30, 2021. On July 30, 2020, we purchased four forward contracts designated and effective as cash flow hedges to protect against the foreign currency exchange risk inherent in a portion of our forecasted sales transactions denominated in Euros. The four contracts expire quarterly beginning November 2021 and ending August 2022. The forward contracts have a notional amount of €15.0 million and a weighted average forward rate of 1.1789. On September 18, 2020, the Board of Directors authorized a $2.0 million increase to our stock repurchase plan bringing the total authorized repurchase amount to $12.0 million. Management has evaluated subsequent events through September 21, 2020, the date the Statements were available to be issued and there are no additional subsequent events that would require adjustment to or disclosure in the Statements.

Subsequent Events

July 8, 2020,

we purchased

four

forward contracts designated and effective as cash flow hedges to protect against the foreign currency exchange risk inherent in a portion of our forecasted sales transactions denominated in Euros. The

four

contracts expire quarterly beginning

November 2020

and ending

August 2021.

The forward contracts have a notional amount of

€17.3

million and a weighted average forward rate of

1.1326.

Effective

July 16, 2020,

the Board of Directors approved and adopted a Non-Qualified Incentive Plan. The purpose of the Non-Qualified Incentive Plan is to enhance the long-term stockholder value of NAI by offering opportunities to directors, officers, employees and eligible consultants of NAI to receive a cash award that

may

be subject to conditions precedent or subsequent that must be met before the NAI is obligated to make the payment, and to provide to the Human Resources Committee and the Board of Directors the ability to make deferred cash payments or other cash awards in order to encourage Participants to serve NAI or to remain in the service of NAI, or to assist NAI to achieve results determined by the Human Resources Committee or the Board of Directors to be in NAI's best interest.

The Non-Qualified Incentive Plan provides for the Human Resources Committee or the Board of Directors to award and administer unsecured and deferred cash awards subject to whatever conditions are determined by the Human Resources Committee or the Board of Directors with each award. The terms of each award, including the amount and any conditions that must be met to be entitled to payment of the award, are set forth in an Award Agreement. The Non-Qualified Incentive Plan provides the Board of Directors with the discretion to set aside assets to fund the Non-Qualified Incentive Plan although that has

not

been done to date.

July 16, 2020,

deferred cash awards were granted to various officers, directors and employees of NAI pursuant to the Non-Qualified Incentive Plan, each providing for a cash payment to the Participant

one

third

of which shall be paid on the

one

year, and

two

year, and

three

year anniversary of the date of the award, provided on the date of payment the Participant has been employed since the date of the award, and continues to be a member of the Board of Directors, or an employee of NAI. In the event a Participant ceases to be an employee of NAI or a member of the Board of Directors of NAI prior to any remaining date of payment

further payments shall be made in connection with the award.

July 23, 2020,

the United States Department of Treasury issued final regulations which provide an exclusion to GILTI. We are currently evaluating the impact these regulations will have on our consolidated financial statements. The detriment or benefit, if any, of applying these regulations will be reflected in our

first

quarter interim financial statements for fiscal year ending

June 30, 2021.

July 30, 2020,

we purchased

four

contracts expire quarterly beginning

November 2021

and ending

August 2022.

The forward contracts have a notional amount of

€15.0

million and a weighted average forward rate of

1.1789.

September 18, 2020,

the Board of Directors authorized a

$2.0

million increase to our stock repurchase plan bringing the total authorized repurchase amount to

$12.0

million.

Management has evaluated subsequent events through

September 21, 2020,

the date the Statements were available to be issued and there are

additional subsequent events that would require adjustment to or disclosure in the Statements.