Note G - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Notes Tables

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

	2022		2021
United States	$	9,152	$	7,462
Foreign		4,507		4,663
Total income before income taxes	$	13,659	$	12,125

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

	2022			2021
Current:
Federal	$	1,297		$	274
State		(1	)		59
Foreign		900			1,238
		2,196			1,571
Deferred:
Federal		501			44
State		250			211
Foreign		—			(469	)
		751			(214	)
Total provision for income taxes	$	2,947		$	1,357

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

	2022			2021
Deferred tax assets:
Inventory capitalization	$	373		$	259
Inventory reserves		113			143
Pension liability		—			150
Lease liability		2,139			2,477
Net operating loss carry forward		242			94
Accrued compensation		458			568
Stock-based compensation		66			96
Forward contracts		—			8
Tax credit carry forward		43			300
Allowance for bad debt		795			863
Other, net		—			3
Total gross deferred tax assets		4,229			4,961
Deferred tax liabilities:
Withholding taxes		(1,133	)		(1,133	)
Fixed assets		(1,523	)		(997	)
Forward contracts		(541	)		—
Lease asset		(2,073	)		(2,413	)
Other, net		(179	)		(204	)
Deferred tax liabilities		(5,449	)		(4,747	)
Net deferred tax (liabilities) assets	$	(1,220	)	$	214

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

	2022			2021
Income taxes computed at statutory federal income tax rate	$	2,868		$	2,546
State income taxes, net of federal income tax expense		174			189
Permanent Differences		85			(6	)
Foreign tax rate differential		(47	)		(210	)
Tax credits		(124	)		(60	)
FDII export sales incentive		(46	)		(137	)
Stock based compensation		37			(231	)
Global intangible low-taxed income (GILTI)		—			28
GILTI final regulations planning		—			(436	)
CARES Act rate differential		—			(326	)
Income tax provision as reported	$	2,947		$	1,357
Effective tax rate		21.6	%		11.3	%