Change in Accounting Principle (Tables)

12 Months Ended

Jun. 30, 2014

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following tables present the effects of the retrospective application of this voluntary change in accounting principle (Dollars in thousands, except share amounts):

Consolidated Statement of Income Data:
	For the Year Ended June 30, 2013
	As Originally Reported (a)		Adjustment			As Restated
Net sales	$	266,015	$	(1,388	)	$	264,627
Cost of goods sold	220,413		(1,221		)	219,192
Gross profit	45,602		(167		)	45,435
Income before provision for income taxes	16,339		(167		)	16,172
Provision for (benefit from) income taxes	2,763		(61		)	2,702
Net income	13,576		(106		)	13,470
Income per share of common stock - Basic	1.33		(0.01		)	1.32
Income per share of common stock - Diluted	1.33		(0.01		)	1.32
Weighted average shares outstanding - Basic	10,193,530					10,193,530
Weighted average shares outstanding - Diluted	10,228,687					10,228,687

Consolidated Statement of Income Data:
	For the Year Ended June 30, 2012
	As Originally Reported		Adjustment		As Restated
Net sales	$	223,577	$	2,878	$	226,455
Cost of goods sold	185,075		2,348		187,423
Gross profit	38,502		530		39,032
Income before provision for income taxes	14,586		530		15,116
Provision for income taxes	5,078		191		5,269
Net income	9,508		339		9,847
Income per share of common stock - Basic	0.93		0.04		0.97
Income per share of common stock - Diluted	0.93		0.03		0.96
Weighted average shares outstanding - Basic	10,174,176				10,174,176
Weighted average shares outstanding - Diluted	10,208,810				10,208,810

Consolidated Balance Sheet Data:
	As of June 30, 2013
	As Originally Reported (a)		Adjustment			As Restated
Inventories	$	46,334	$	—		$	46,334
Deferred income taxes	3,167		(216		)	2,951
Performance based payments on customer contracts	21,504		(602		)	20,902
Retained earnings	65,571		386			65,957

(a) Fiscal 2013 statement of income and balance sheet data have been adjusted to reflect a measurement period retrospective elimination of the previously recognized gain on acquisition recorded in the fourth quarter of fiscal 2013 relating to Creonix, LLC. See Note 4 for a further discussion.