INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Earnings (Loss) Before Income Taxes

Components of earnings (loss) before income taxes are as follows (in thousands): 

	2023		2022
Domestic operations	$	16,927	$	7,619
Foreign operations	8,975		13,900
	$	25,902	$	21,519

Schedule of The Provision for (Benefit From ) Income Taxes

The provision for (benefit from) income taxes consists of the following (in thousands):

	2023		2022
Current:
Federal	$	159	$	(319)
Foreign	3,972		5,478
State	130		33
Deferred:
Federal	(447)		2,256
Foreign	(394)		(928)
State	(606)		121
	$	2,814	$	6,641

Schedule of Reconciliations of Expected Tax Expense

Reconciliations of expected tax expense at the U.S. statutory rate to actual tax expense (benefit) are as follows (in thousands):

	2023		2022
Expected tax expense	$	5,440	$	4,519
State taxes, net of federal effect	741		321
Foreign taxes, net of federal credits	2,170		1,091
Change in valuation allowance	(5,128)		247
Tax reserve adjustments	(181)		127
Return to provision and other adjustments	(155)		323
Tax rate change applied to deferred tax balances	(137)		43
Global intangible low taxed income	582		322
Other permanent items	(518)		(352)
Actual tax expense	$	2,814	$	6,641

Schedule of Deferred Income Taxes

Deferred income taxes at June 30, 2023 and 2022 are attributable to the following (in thousands): 

	2023		2022
Inventories	$	2,222	$	2,009
Employee benefits (other than pension)	671		859
Operating lease liabilities	1,320		1,403
Book reserves	1,037		859
Federal NOL, various carryforward periods	849		2,440
State NOL, various carryforward periods	1,571		1,719
Foreign NOL, various carryforward periods	1,206		365
Foreign tax credit carryforward, expiring 2023 – 2028	6,632		7,316
Pension benefits	2,699		5,527
Retiree medical benefits	341		382
Accrued royalties	1,272		717
Depreciation	(594)		(336)
Intangibles	(133)		(272)
Right of use assets	(1,298)		(1,372)
Federal research and development and AMT credit carryforward	1,072		894
Contingency accruals	200		92
Other temporary taxable differences	(14)		(151)
Other temporary deductible differences	1,931		1,423
Total deferred tax assets	20,984		23,874
Valuation allowance	(3,928)		(8,950)
Net deferred tax asset	$	17,056	$	14,924

Schedule of Unrecognized Tax Benefits

Reconciliations of the beginning and ending amount of unrecognized tax benefits are as follows (in thousands):

Balance June 30, 2021	$	(11,360)
Increase for tax positions taken during the current period	(66)
Decrease for tax positions taken during the prior period	—
Effect of exchange rate changes	98
Decrease relating to lapse of applicable statute of limitations	40
Balance June 30, 2022	(11,288)
Decrease for tax positions taken during the current period	267
Decrease for tax positions taken during the prior period	60
Effect of exchange rate changes	(15)
Decrease relating to lapse of applicable statute of limitations	174
Balance June 30, 2023	$	(10,802)