Note K - Economic Dependency

12 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

K. Economic Dependency

We had substantial net sales to certain customers during the fiscal years ended June 30 shown in the following table. The loss of any of these customers, or a significant decline in sales or the growth rate of sales to these customers, or in their ability to make payments when due, could have a material adverse impact on our net sales and net income. Net sales to any one customer representing 10% or more of the respective year’s consolidated net sales were as follows (dollars in thousands):

	Fiscal 2023		Fiscal 2022
Customer 1	$	61,646	$	37,218
Customer 2		48,066		54,599
Customer 3		(a)		31,552
	$	109,712	$	123,369

(a) Sales were less than 10% of the respective period’s consolidated net sales. 

Accounts receivable from these customers totaled $1.8 million at June 30, 2023 and $10.7 million at June 30, 2022.

We buy certain products, including beta-alanine, from a single supplier. The loss of this supplier or other raw material suppliers could have a material adverse impact on our net sales and net income. Raw material purchases from any one supplier representing 10% or more of the respective period’s total raw material purchases were as follows (dollars in thousands):

	Year ended June 30,
	2023					2022
			% of Total					% of Total
	Raw Material		Raw			Raw Material		Raw
	Purchases by		Material			Purchases by		Material
	Supplier		Purchases			Supplier		Purchases
Supplier 1	$	11,487		13	%	$	14,065		17	%
	$	11,487		13	%	$	14,065		17	%