Note 3 - Investment

12 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

3. INVESTMENT

In fiscal 2010, the Company entered into an agreement with a private software development company to invest $1.5 million in exchange for a 36% equity interest therein.  The Company recorded other income of $0.1 million in fiscal 2016, $0.2 million in fiscal 2015 and $0.3 million in fiscal 2014 based on the earnings of this entity as allocated under the equity method of accounting.  The net carrying value of the investment included in other long-term assets in the Consolidated Balance Sheet as of June 30, 2016 and June 30, 2015 is $2.2 million and $2.1 million, respectively.  In August 2011, the Company guaranteed a loan of $0.5 million. The guarantee remains outstanding, between the private software development company and Starrett. There was no amount outstanding under the loan as of June 30, 2016.