Note G - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Notes Tables

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

	2023		2022
United States	$	2,588	$	9,152
Foreign		967		4,507
Total income before income taxes	$	3,555	$	13,659

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

	2023			2022
Current:
Federal	$	843		$	1,297
State		211			(1	)
Foreign		221			900
		1,275			2,196
Deferred:
Federal		(246	)		501
State		4			250
Foreign		—			—
		(242	)		751
Total provision for income taxes	$	1,033		$	2,947

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

	2023			2022
Deferred tax assets:
Inventory capitalization	$	220		$	373
Inventory reserves		164			113
Lease liability		2,018			2,139
Net operating loss carry forward		433			242
Accrued compensation		166			458
Capitalized research and experimentation		412			—
Accrued contingent fee		219			—
Stock-based compensation		81			66
Forward contracts		56			—
Tax credit carry forward		229			43
Allowance for bad debt		1			795
Interest expense		103			—
Other, net		87			—
Total gross deferred tax assets		4,189			4,229
Deferred tax liabilities:
Withholding taxes		(401	)		(1,133	)
Fixed assets		(1,451	)		(1,523	)
Forward contracts		—			(541	)
Lease asset		(1,951	)		(2,073	)
Other, net		(31	)		(179	)
Deferred tax liabilities		(3,834	)		(5,449	)
Net deferred tax assets (liabilities)	$	355		$	(1,220	)

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

	2023			2022
Income taxes computed at statutory federal income tax rate	$	749		$	2,868
State income taxes, net of federal income tax expense		90			174
Permanent differences		8			85
Foreign tax rate differential		18			(47	)
Tax credits		(347	)		(124	)
FDII export sales incentive		—			(46	)
Stock based compensation		61			37
Global intangible low-taxed income (GILTI)		355			—
Return to provision - differences		99
Income tax provision as reported	$	1,033		$	2,947
Effective tax rate		29.1	%		21.6	%