Note 13 - Income Taxes (Tables)
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12 Months Ended |
Jun. 30, 2021 |
Notes Tables |
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Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| | 2021 | | | 2020 | | | 2019 | |
U.S. operations | | $ | 75,458 | | | $ | 12,690 | | | $ | 35,041 | |
Non-U.S. operations | | | 953 | | | | 1,499 | | | | (1,181 | ) |
Income before income taxes | | $ | 76,411 | | | $ | 14,189 | | | $ | 33,860 | |
| | | | | | | | | | | | |
U.S. operations | | | 15,812 | | | | 4,989 | | | | 7,897 | |
Non-U.S. operations | | | 594 | | | | 300 | | | | 265 | |
Total income tax expense | | $ | 16,406 | | | $ | 5,289 | | | $ | 8,162 | |
Effective tax rate | | | 21.5 | % | | | 37.3 | % | | | 24.1 | % |
| | 2021 | | | 2020 | | | 2019 | |
Current: | | | | | | | | | | | | |
Federal | | $ | 10,617 | | | $ | 2,432 | | | $ | 10,132 | |
State | | | 1,647 | | | | 8 | | | | 1,237 | |
Foreign | | | 492 | | | | 325 | | | | 304 | |
Total current | | | 12,756 | | | | 2,765 | | | | 11,673 | |
Deferred: | | | | | | | | | | | | |
Federal | | | 4,462 | | | | 181 | | | | (3,091 | ) |
State | | | (914 | ) | | | 2,368 | | | | (381 | ) |
Foreign | | | 102 | | | | (25 | ) | | | (39 | ) |
Total deferred | | | 3,650 | | | | 2,524 | | | | (3,511 | ) |
Total income tax expense | | $ | 16,406 | | | $ | 5,289 | | | $ | 8,162 | |
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Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| | 2021 | | | 2020 | | | 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income tax expense at U.S. Federal statutory tax rate | | $ | 16,046 | | | | 21.0 | % | | $ | 2,980 | | | | 21.0 | % | | $ | 7,111 | | | | 21.0 | % |
Increase (decrease) in income taxes resulting from: | | | | | | | | | | | | | | | | | | | | | | | | |
State and local income taxes, net of U.S. federal income benefit | | | 2,565 | | | | 3.4 | % | | | 159 | | | | 1.1 | % | | | 737 | | | | 2.2 | % |
Change in valuation allowance | | | (2,565 | ) | | | -3.4 | % | | | 2,534 | | | | 17.9 | % | | | 602 | | | | 1.8 | % |
Foreign derived intangible income ("FDII") deduction | | | - | | | | 0.0 | % | | | - | | | | 0.0 | % | | | (161 | ) | | | -0.5 | % |
Unrecognized tax benefits | | | 48 | | | | 0.1 | % | | | (215 | ) | | | -1.5 | % | | | 26 | | | | 0.1 | % |
Share-based compensation | | | 72 | | | | 0.1 | % | | | 17 | | | | 0.1 | % | | | 184 | | | | 0.5 | % |
Other, net | | | 240 | | | | 0.3 | % | | | (186 | ) | | | -1.3 | % | | | (337 | ) | | | -1.0 | % |
Actual income tax expense (and corresponding effective tax rate) | | $ | 16,406 | | | | 21.5 | % | | $ | 5,289 | | | | 37.3 | % | | $ | 8,162 | | | | 24.1 | % |
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Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| | June 30, | |
| | 2021 | | | 2020 | |
| | | | | | | | |
Leases | | $ | 30,692 | | | $ | 32,184 | |
Employee compensation accruals | | | 2,131 | | | | 2,259 | |
Share-based compensation | | | 727 | | | | 670 | |
Net operating loss carryforwards | | | 1,420 | | | | 2,002 | |
Property, plant and equipment | | | 1,446 | | | | 1,020 | |
Other | | | 2,263 | | | | 2,825 | |
Subtotal deferred tax assets | | | 38,679 | | | | 40,960 | |
Less: Valuation allowance | | | (593 | ) | | | (3,158 | ) |
Total deferred tax assets | | $ | 38,086 | | | $ | 37,802 | |
| | June 30, | |
| | 2021 | | | 2020 | |
Operating lease right-of-use assets | | $ | 26,811 | | | $ | 27,334 | |
Intangible assets other than goodwill | | | 8,979 | | | | 9,080 | |
Commissions | | | 5,744 | | | | 2,207 | |
Other | | | 502 | | | | 118 | |
Total deferred tax liabilities | | $ | 42,036 | | | $ | 38,739 | |
| | June 30, | |
| | 2021 | | | 2020 | |
Other assets | | $ | 1,078 | | | $ | 137 | |
Other non-current liabilities | | | 5,028 | | | | 1,074 | |
Total net deferred tax asset (liability) | | $ | (3,950 | ) | | $ | (937 | ) |
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Schedule of Deferred Tax Assets Expiration with Respect to Net Operating Losses [Table Text Block] |
| | Deferred | | | Net Operating Loss | |
| | Tax Assets | | | Carryforwards | |
Various U.S. state net operating losses, expiring between 2025 and 2040 | | $ | 1,148 | | | $ | 21,457 | |
Foreign capital losses, expiring between 2034 and 2040 | | $ | 272 | | | $ | 1,027 | |
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Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
| | June 30, | |
| | 2021 | | | 2020 | |
Beginning balance | | $ | 1,933 | | | $ | 2,209 | |
Additions for tax positions related to the current year | | | 452 | | | | 214 | |
Additions for tax positions of prior years | | | 117 | | | | 126 | |
Reductions resulting from a lapse of the applicable statute of limitations | | | (518 | ) | | | (616 | ) |
Ending balance | | $ | 1,984 | | | $ | 1,933 | |
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