Note 5 - Cash and Short-term Investments

12 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Cash, Cash Equivalents, and Short-term Investments [Text Block]

5. CASH AND SHORT-TERM INVESTMENTS

Cash and investments held by foreign subsidiaries amounted to $10.2 million and $12.0 million at June 30, 2016 and June 30, 2015, respectively. Of the June 30, 2016 balance, $6.7 million in U.S. dollar equivalents was held in British Pounds Sterling and $1.6 million in U.S. dollar equivalents was held in Brazilian Reals.

The Company plans to permanently reinvest cash held in foreign subsidiaries. Cash held in foreign subsidiaries is not available for use in the U.S. without the likely incurrence of U.S. federal and state income tax consequences.

As of June 30, 2015, the Company’s U.K. subsidiary held a $7.9 million 12 month fixed term deposit with a financial institution.