Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The income tax expense for the years ended June 30, 2017, 2016 and 2015 consists of the following (in thousands):

	Year ended June 30,
	2017			2016			2015
				(As Revised)			(As Revised)
Income / (Loss) Before Income Taxes:
Domestic	$	1,642		$	7,518		$	8,249
International	1,268			1,166			2,404
	$	2,910		$	8,684		$	10,653
Current Taxes:
Federal	$	1,324		$	4,180		$	2,600
State	137			561			446
Foreign	510			455			1,663
Total Current Income Tax Provision	$	1,971		$	5,196		$	4,709
Deferred Taxes:
Federal	$	(473	)	$	(2,326	)	$	97
State	(21		)	(105		)	4
Foreign	(175		)	(187		)	(1,282		)
Total Deferred Income Tax Provision	$	(669	)	$	(2,618	)	$	(1,181	)
Net Income Tax Provision	$	1,302		$	2,578		$	3,528

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, 2017, 2016 and 2015 differs from the U.S. Federal statutory income tax rate due to the following:

	Year ended June 30,
	2017		2016		2015
			(As Revised)		(As Revised)
Federal statutory income tax rate	34.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	5.9	%	2.8	%	2.0	%
Foreign tax rate difference	(4.6	)%	(2.3	)%	(1.3	)%
Tax return to provision true-up	0.6	%	0.7	%	1.3	%
Other differences	(2.1	)%	0.0	%	0.0	%
Permanent differences:
— stock based compensation	4.6	%	0.9	%	1.2	%
— domestic production activities deduction	(3.3	)%	(4.4	)%	(1.6	)%
— credit for increasing research activities	(0.9	)%	(0.7	)%	(3.8	)%
— meals and entertainment	3.4	%	1.0	%	1.0	%
— penalties	1.5	%	0.0	%	0.0	%
— other	4.3	%	(3.9	)%	(0.7	)%
Change in valuation allowance	1.3	%	0.6	%	0.0	%
Net income tax provision	44.7	%	29.7	%	33.1	%

The Components of the Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities as of June 30, 2017 and 2016 are as follows (in thousands):

	June 30,
	2017			2016
				(As Revised)
Deferred tax assets:
Federal, state, and foreign net operating loss carryovers	$	536		$	519
Stock option compensation	1,531			1,098
Accrued vacation, allowance for returns, bonuses & other	3,173			3,081
Gross deferred tax asset	$	5,240		$	4,698
Deferred tax liabilities:
Patents and trademarks	(253		)	(417		)
Property & equipment	(588		)	(722		)
Gross deferred tax liabilities	(841		)	(1,139		)
Less: valuation allowance	(312		)	(276		)
Deferred tax assets, net	$	4,087		$	3,283