Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The income tax expense for the years ended June 30, 2015, 2014, and 2013 consists of the following (in thousands):

	2015			2014			2013
Income / (Loss) Before Income Taxes:
Domestic	$	8,249		$	13,894		$	11,250
International	2,404			2,761			(97		)
	$	10,653		$	16,655		$	11,153
Current Taxes:
Federal	$	2,600		$	2,010		$	4,087
State	446			72			383
Foreign	856			1,018			(33		)
Total Current Income Tax Provision	$	3,902		$	3,100		$	4,437
Deferred Taxes:
Federal	97			2,299			(706		)
State	4			83			(77		)
Foreign	(337		)	(210		)	(109		)
Total Deferred Income Tax Provision	$	(236	)	$	2,172		$	(892	)
Net Income Tax Provision	$	3,666		$	5,272		$	3,545

The effective income tax rate differs from the U.S. Federal statutory income tax rate

The effective income tax rate for the years ended June 30, 2015, 2014, and 2013 differs from the U.S. Federal statutory income tax rate due to the following:

	2015		2014		2013
Federal statutory income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	2.0	%	1.9	%	1.8	%
Tax return to provision true-up	1.2	%	(3.0	)%	(2.5	)%
Permanent differences:
— stock based compensation	1.2	%	1.3	%	0.8	%
— domestic production activities deduction	(1.6	)%	(1.8	)%	(2.7	)%
— credit for increasing research activities	(3.8	)%	(1.5	)%	(0.7	)%
— other	0.4	%	(0.5	)%	0.0	%
Change in valuation allowance	0.0	%	0.1	%	0.0	%
Net income tax provision	34.4	%	31.5	%	31.7	%

The components of the deferred tax assets and liabilities

The components of the deferred tax assets and liabilities as of June 30, 2015 and 2014 are as follows (in thousands):

	2015			2014
Deferred tax assets:
Federal, state, and foreign net operating loss carryovers	$	656		$	1,016
Stock option compensation	1,353			1,353
Accrued vacation, allowance for returns, bonuses & other	1,395			572
Gross deferred tax asset	$	3,404		$	2,941
Deferred tax liabilities:
Patents and trademarks	(468		)	(500		)
Change in tax accounting methods	(98		)	(198		)
Property & equipment	(1,268		)	(583		)
Gross deferred tax liabilities	(1,834		)	(1,281		)
Less: valuation allowance	(218		)	(217		)
Deferred tax assets, net	$	1,352		$	1,443