Note G - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	2021		2020
United States	$	7,462	$	(5,742	)
Foreign		4,663		4,004
Total income (loss) before income taxes	$	12,125	$	(1,738	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2021			2020
Current:
Federal	$	274		$	31
State		59			4
Foreign		1,238			728
		1,571			763
Deferred:
Federal		44			(641	)
State		211			(215	)
Foreign		(469	)		—
		(214	)		(856	)
Total provision (benefit) for income taxes	$	1,357		$	(93	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2021			2020
Deferred tax assets:
Inventory capitalization	$	259		$	412
Inventory reserves		143			301
Pension liability		150			260
Lease liability		2,477			2,732
Net operating loss carry forward		94			245
Accrued compensation		568			—
Stock-based compensation		96			157
Forward contracts		8			93
Tax credit carry forward		300			340
Allowance for bad debt		863			819
Other, net		3			246
Total gross deferred tax assets		4,961			5,605
Deferred tax liabilities:
Withholding taxes		(1,133	)		(1,133	)
Fixed Assets		(997	)		(1,011	)
Foreign inventory reserves		—			(469	)
Lease asset		(2,413	)		(2,681	)
Other, net		(204	)		(115	)
Deferred tax liabilities		(4,747	)		(5,409	)
Net deferred tax assets	$	214		$	196

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2021			2020
Income taxes computed at statutory federal income tax rate	$	2,546		$	(364	)
State income taxes, net of federal income tax expense		189			(174	)
Permanent Differences		(6	)		155
Foreign tax rate differential		(210	)		(112	)
Tax credits		(60	)		—
FDII export sales incentive		(137	)		—
Stock based compensation		(231	)		—
Global intangible low-taxed income (GILTI)		28			402
GILTI final regulations planning		(436	)		—
CARES Act rate differential		(326	)		—
Income tax provision as reported	$	1,357		$	(93	)
Effective tax rate		11.3	%		5.4	%