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Note O - Subsequent Events
12 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

O. Subsequent Events

 

On July 21st, 2022, we purchased three 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 three contracts expire quarterly beginning December 2022 and ending September 2023. The forward contracts have a notional amount of €5.9 million and a weighted average forward rate of 1.030.

 

On August 16th, 2022, we purchased one forward contract to protect against the foreign currency exchange risk inherent in our long-term lease liability denominated in Swiss Francs. The forward contract had a notional amount of CHF 7.5 million and a weighted average forward rate of 0.9477. This contract expired on September 7, 2022. On September 7, 2022, we purchased another forward contract related to our long-term lease liability denominated in Swiss Francs to replace the forward contracts which expired. The forward contract has a notional amount of CHF 12.0 million and a weighted average forward rate of 0.9735.