scx20170630_10k.htm

Other income (expense), net

988,000

Impairment of building

4,114,000

Operating income (loss)

(1,044,000)

(20,445,000)

8,603,000

(507,000)

70,000

1,339,000

Gain on sale of building

3,089,000

Earnings (loss) before income taxes

1,538,000

(20,375,000)

9,942,000

Income tax expense (benefit)

545,000

(6,245,000)

4,698,000

Net earnings (loss)

$ 991,000

$ (14,130,000)

$ 5,244,000

Basic and diluted earnings (loss) per share (in dollars per share)

$ 0.14

$ (2.01)

$ 0.75

Average outstanding shares used in per share calculations:

Basic (in shares)

7,048

7,017

6,983

Diluted (in shares)

7,081

7,017

7,023

Dividends (in dollars per share)

$ 0.40

[1]	Excludes $7,902 of North American segment sales to the International segment and $11,677 sales of the International segment to the North American segment.
[2]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[3]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.

XML 18 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Net earnings (loss)	$ 991	$ (14,130)	$ 5,244
Other comprehensive (loss):
Translation gain (loss)	(1,436)	(4,585)	(18,989)
Pension and postretirement plans, net of tax of $1,896, $(1,371) and $(3,857) respectively	3,416	(1,764)	(6,202)
Other comprehensive income (loss)	1,980	(6,349)	(25,191)
Total comprehensive income (loss)	$ 2,971	$ (20,479)	$ (19,947)

XML 19 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Pension and postretirement plans, tax	$ 1,896	$ (1,371)	$ (3,857)

XML 20 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Jun. 30, 2014	$ 6,166	$ 795	$ 54,063	$ 95,715	$ (20,425)	$ 136,314
Total comprehensive income				5,244	(25,191)	(19,947)
Dividends ($0.40 per share)				(2,795)		(2,795)
Repurchase of shares	(1)	(3)	(64)			(68)
Issuance of stock	15	33	516			564
Stock-based compensation	8		354			362
Conversion	36	(36)
Balance at Jun. 30, 2015	6,224	789	54,869	98,164	(45,616)	114,430
Total comprehensive income				(14,130)	(6,349)	(20,479)
Dividends ($0.40 per share)				(2,806)		(2,806)
Repurchase of shares	(37)	(5)	(421)			(463)
Issuance of stock	21	18	388			427
Stock-based compensation	13		391			404
Conversion	29	(29)
Balance at Jun. 30, 2016	6,250	773	55,227	81,228	(51,965)	91,513
						(51,965)
Total comprehensive income				991	1,980	2,971
Dividends ($0.40 per share)				(2,817)		(2,817)
Repurchase of shares	(35)	(8)	(343)			(386)
Issuance of stock	23	11	301			335
Stock-based compensation	16		394			410
Conversion	14	(14)
Balance at Jun. 30, 2017	$ 6,268	$ 762	$ 55,579	$ 79,402	(49,985)	92,026
Translation loss, net of taxes					(43,322)
Pension and postretirement plans, net of taxes					(6,663)
					$ (49,985)	$ (49,985)

XML 21 R8.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Retained Earnings [Member]
Dividends (in dollars per share)	$ 0.40	$ 0.40	$ 0.40
Dividends (in dollars per share)	$ 0.40	$ 0.40	$ 0.40

XML 22 R9.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net earnings (loss)	$ 991,000	$ (14,130,000)	$ 5,244,000
Non cash operating activities:
Gain on sale of building	(3,089,000)
Depreciation	5,368,000	5,832,000	7,434,000
Amortization	1,658,000	1,382,000	1,283,000
Impairment of building		4,114,000
Stock-based compensation	410,000	404,000	362,000
Net long-term tax obligations	(132,000)	(256,000)	2,414,000
Deferred taxes	498,000	(6,888,000)	985,000
Postretirement benefit and pension obligations	2,387,000	20,947,000	3,367,000
(Income) loss from equity method investment	307,000	(118,000)	(203,000)
Working capital changes:
Accounts receivable	3,863,000	2,774,000	(2,615,000)
Inventories	(2,498,000)	3,615,000	(6,185,000)
Other current assets	(1,192,000)	309,000	483,000
Other current liabilities	(523,000)	1,477,000	718,000
Prepaid pension expense	(5,481,000)	(5,148,000)	(6,731,000)
Other	321,000	22,000	244,000
Net cash provided by operating activities	2,888,000	14,336,000	6,800,000
Cash flows from investing activities:
Business acquisition, net of cash acquired	(1,324,000)
Additions to property, plant and equipment	(4,574,000)	(7,493,000)	(5,052,000)
Software development	(1,262,000)	(747,000)	(648,000)
Purchase of short-term investments			(45,000)
Proceeds from sale of short-term investments		7,621,000	201,000
Proceeds from sale of building	3,321,000
Net cash used in investing activities	(3,839,000)	(619,000)	(5,544,000)
Cash flows from financing activities:
Proceeds from borrowings	500,000	750,000	900,000
Long-term debt repayments	(1,543,000)	(2,202,000)	(2,148,000)
Proceeds from common stock issued	335,000	427,000	564,000
Repurchase of shares	(386,000)	(463,000)	(68,000)
Dividends paid	(2,817,000)	(2,806,000)	(2,795,000)
Net cash used in financing activities	(3,911,000)	(4,294,000)	(3,547,000)
Effect of translation rate changes on cash	(325,000)	(737,000)	(2,834,000)
Net increase (decrease) in cash	(5,187,000)	8,686,000	(5,125,000)
Cash beginning of year	19,794,000	11,108,000	16,233,000
Cash end of year	14,607,000	19,794,000	11,108,000
Supplemental cash flow information:
Interest paid	635,000	654,000	724,000
Taxes paid, net	(136,000)	1,113,000	2,169,000
Non-cash investing and financing activity:
Liability for business acquisition	$ 1,555,000

XML 23 R10.htm IDEA: XBRL DOCUMENT

Note 1 - Description of Business	12 Months Ended
Note 1 - Description of Business	Jun. 30, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. DESCRIPTION OF BUSINESS The L. S. Starrett Company (the “Company”) is incorporated in the Commonwealth of Massachusetts and is in the business of manufacturing industrial, professional and consumer measuring and cutting tools and related products. The Company’s manufacturing operations are primarily in North America, Brazil, China and the United Kingdom. The largest consumer of these products is the metalworking industry, but others include automotive, aviation, marine, farm, do-it-yourselfers and tradesmen such as builders, carpenters, plumbers and electricians.

XML 24 R11.htm IDEA: XBRL DOCUMENT

Note 2 - Significant Accounting Policies	12 Months Ended
Note 2 - Significant Accounting Policies	Jun. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation : The consolidated financial statements include the accounts of The L. S. Starrett Company and its subsidiaries, all of which are wholly-owned. All significant intercompany items have been eliminated in consolidation. Financial instruments and derivatives : The Company’s financial instruments include cash, investments and debt and are valued using level 1 inputs. Investments are stated at cost which approximates fair market value. The carrying value of debt, which is at current market interest rates, also approximates its fair value. The Company’s U.K. subsidiary utilizes forward exchange contracts to reduce currency risk. The notional amount of contracts outstanding as of June 30, 2017 and June 30, 2016 amounted to $1.4 million and $0.9 million, respectively. Accounts receivable : Accounts receivable consist of trade receivables from customers. The expense for bad debts amounted to $0.3, $0.3, and $0.2 million in fiscal 2017, 2016 and 2015, respectively. In establishing the allowance for doubtful accounts, management considers historical losses, the aging of receivables and existing economic conditions. Inventories : Inventories are stated at the lower of cost or market. Substantially all United States inventories are valued using the last-in- first -out (“LIFO”) method. All non-U.S. subsidiaries use the first -in- first -out (“FIFO”) method or the average cost method. LIFO is not a permissible method of inventory costing for tax purposes outside the U.S. Property Plant and Equipment : The cost of buildings and equipment is depreciated using straight-line and accelerated methods over their estimated useful lives as follows: buildings and building improvements 10 to 50 years, machinery and equipment 3 to 12 years. Leases are capitalized under the criteria set forth in Accounting Standards Codification (ASC) 840, “Leases” which establishes the four criteria of a capital lease. At least one of the four following criteria must be met for a lease to be considered a capital lease: a transfer of ownership of the property to the lessee by the end of the lease term; a bargain purchase option; a lease term that is greater than or equal to 75 percent of the economic life of the leased property; present value of the future minimum lease payments equals or exceeds 90 percent of the fair market value of the leased property. If none of the aforementioned criteria are met, the lease will be treated as an operating lease. Property plant and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. A gain or loss is recorded on individual fixed assets when retired or disposed of. Included in buildings and building improvements and machinery and equipment at June 30, 2017 and June 30, 2016 were $1.6 million and $2.9 million, respectively, of construction in progress. Repairs and maintenance of equipment are expensed as incurred. A decision to reduce saw manufacturing capacity was made in fiscal 2016 which required management to perform an impairment analysis. Consequently, the Company recorded an impairment loss of $4,114,000, which represents the excess of the carrying value of a building over its fair value. See also Impairment of Assets and Restructuring Costs (Note 9 to the Consolidated Financial Statements.) Intangible assets : Identifiable intangibles are recorded at cost and are amortized on a straight-line basis over a 5 - 15 year period. The estimated useful lives of the intangible assets subject to amortization are: 10 - 15 years for patents, 14 - 20 years for trademarks and trade names, 5 - 10 years for completed technology, 8 years for non-compete agreements, 8 - 16 years for customer relationships and 5 years for software development. The Company tests identifiable intangible assets for impairment whenever events or circumstances indicate they may be impaired. Goodwill : Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization but is tested for impairment annually and at any time when events suggest impairment may have occurred. The Company annually tests the goodwill associated with the November 2011 acquisition of Bytewise in October. As of October 1, 2016, the Company performed an analysis of qualitative factors to determine whether it is more likely than not that the fair value of the Bytewise business is less than its carrying amount as a basis for determining whether it is necessary to perform a two -step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that it was not necessary to perform a two -step goodwill impairment test. Revenue recognition : Sales of merchandise and freight billed to customers are recognized when products have shipped, title and risk of loss has passed to the customer, no significant post-delivery obligations remain and collection of the resulting receivable is reasonably assured. Sales are presented net of provisions for cash discounts, returns, customer discounts (such as volume or trade discounts), and other sales related discounts. Cooperative advertising payments made to customers are included in selling, general and administrative expenses in the Consolidated Statements of Operations. While the Company does allow its customers the right to return in certain circumstances, revenue is not deferred, rather a reserve for sales returns is provided based on experience, which historically has not been significant. Advertising costs : The Company’s policy is to generally expense advertising costs as incurred, except catalogs costs, which are deferred until mailed. Advertising costs were expensed as follows: $5.2 million in fiscal 2017, $5.0 million in fiscal 2016 and $5.7 million in fiscal 2015 and are included in selling, general and administrative expenses. Freight costs : The cost of outbound freight and the cost for inbound freight included in material purchase costs are both included in cost of sales. Warranty expense : The Company’s warranty obligation is generally one year from shipment to the end user and is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. Historically, the Company has not incurred significant warranty expense and consequently its warranty reserves are not material. Pension and Other Postretirement Benefits: The Company has two defined benefit pension plans, one for U.S. employees and another for U.K. employees. The Company also has defined contribution plans. The Company amended its Postretirement Medical Plan effective December 31, 2013, whereby the Company terminated eligibility for employees under the age of 65. On December 21, 2016, the Company amended the U.S. defined benefit pension plan to freeze benefit accruals effective December 31, 2016. Consequently, the Plan will be closed to new participants and current participants will no longer earn additional benefits after December 31, 2016. The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company’s current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company (MTM adjustment). This method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for 2017, 2016 and 2015 were $0.2 million, $17.8 million, and $1.3 million, respectively. Income taxes : Deferred tax expense results from differences in the timing of certain transactions for financial reporting and tax purposes. Deferred taxes have not been recorded on approximately $65 million of undistributed earnings of foreign subsidiaries as of June 30, 2017 and the related unrealized translation adjustments because such amounts are considered permanently invested. In addition, it is possible that remittance taxes, if any, would be reduced by U.S. foreign tax credits to the extent available. Valuation allowances are recognized if, based on the available evidence, it is more likely than not that some portion of the deferred tax assets will not be realized. Research and development : Research and development costs are expensed, primarily in selling, general and administrative expenses, and were as follows: $1.9 million in fiscal 2017, $1.8 million in fiscal 2016, and $1.7 million in fiscal 2015 and are included in selling general and administrative expenses in the Consolidated Statements of Operations. Earnings per share (EPS) : Basic EPS is computed by dividing earnings (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution by securities that could share in the earnings. The Company had 32,674, 32,833, and 40,214, of potentially dilutive common shares in fiscal 2017, 2016 and 2015, respectively, resulting from shares issuable under its stock option plans. These additional shares are not used in the diluted EPS calculation in loss years. Translation of foreign currencies : The financial statements of our foreign subsidiaries, where the local currency is the functional currency, are translated at exchange rates in effect on reporting dates, and income and expense items are translated at average rates or rates in effect on transaction dates as appropriate. The resulting foreign currency translation adjustments are charged or credited directly to the other comprehensive income (loss) as noted in the Consolidated Statements of Comprehensive Income (Loss). Net foreign currency gains (losses) are disclosed in Note 10. Use of accounting estimates : The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Judgments, assumptions and estimates are used for, but not limited to: the allowances for doubtful accounts receivable and returned goods; inventory allowances; income tax valuation allowances, uncertain tax positions and pension obligations. Amounts ultimately realized could differ from those estimates. Recent Accounting Pronouncements : In May 2014, the FASB issued a new standard related to “Revenue from Contracts with Customers” which amends the existing accounting standards for revenue recognition. The standard requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. This standard is applicable for fiscal years beginning after December 15, 2017 and for interim periods within those years. Earlier application will be permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company expects to adopt this standard on a modified prospective basis for its fiscal year beginning July 1, 2018. The Company primarily sells goods and recognizes revenues at point of sale or delivery, which will not change under the new standard. The Company does not sell extended warranties to its customers and believes that the majority of its warranties are standard in nature, requiring no separate performance obligations and therefore expects little to no change in the accounting for its warranties under ASU 2014 - 09. The Company has reviewed a sample of customer contracts that the Company believes is representative of its significant revenue streams identified for the current fiscal year. The assessment of the impact on revenue and expenses based on these reviews to determine the impact to the Company’s results of operations and cash flows as a result of this guidance is ongoing. In July 2015, the FASB issued ASU No. 2015 - 11, "Inventory (Topic 330 ): Simplifying the Measurement of Inventory." Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. ASU 2015 - 11 specifies that “market” is defined as “net realizable value,” or the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015 - 11 is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016 - 02, “Leases (Topic 842 )”. The ASU requires that organizations that lease assets recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. The ASU will affect the presentation of lease related expenses on the income statement and statement of cash flows and will increase the required disclosures related to leases. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016 - 02 on its consolidated financial statements. It is expected that a key change upon adoption will be the balance sheet recognition of leased assets and liabilities and that any changes in income statement recognition will not be material. In October 2016, the FASB issued ASU No. 2016 - 16, "Income Taxes (Topic 740 ): Intra-Entity Transfers of Assets Other Than Inventory," which is intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This update removes the current exception in GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. The amendments in this update are effective for public entities for annual reporting periods beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2016 - 16 is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017 - 01, "Business Combinations (Topic 805 ) - Clarifying the Definition of a Business," with the objective to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets versus businesses. The amendments in ASU 2017 - 01 provide a screen to determine when a set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen is expected to reduce the number of transactions that need to be further evaluated. If the screen is not met, the amendments in ASU 2017 - 01 (i) require that to be considered a business, a set of assets and liabilities acquired must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output; and (ii) remove the evaluation of whether a market participant could replace missing elements. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted for transactions for which the acquisition date occurs before the issuance date of ASU 2017 - 01, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The adoption of ASU No. 2017 - 01 is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017 - 04, "Intangibles-Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment." Under the new guidance, if a reporting unit's carrying value amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard eliminates the requirement to calculate goodwill impairment using Step 2, which calculates any impairment charge by comparing the implied fair value of goodwill with its carrying amount. The standard does not change the guidance on completing Step 1 of the goodwill impairment test. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2019 and should be applied prospectively for annual and any interim goodwill impairment tests. Early adoption is permitted for entities for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of the update on our consolidated financial statements.

XML 25 R12.htm IDEA: XBRL DOCUMENT

Note 3 - Business Acquisition

12 Months Ended

Jun. 30, 2017

Business Combination Disclosure [Text Block]

BUSINESS ACQUISITION

In fiscal

2010,

the Company entered into an agreement with a private software company to invest

$1.5

million in exchange for a

36%

equity interest therein. In the

third

quarter of fiscal

2017,

the Company entered into a new agreement to invest an additional

$3.6

million for the remaining

64%

that company’s equity. The Company paid

$1.8

million in cash at closing and is obligated to pay an additional

$1.8

million in cash

three

years subsequent to closing (discounted to

$1.6

million on the purchase date). In addition, the agreement provides for the former owners to receive a

30%

share of operating profits of the business over the next

three

years so long as they remain employed by the Company. The Company has accrued for such profit sharing as an expense based on results of operations since the date of acquisition.

The table below presents the allocation of the purchase price to the acquired net assets (in thousands):

Cash	$	509
Accounts receivable		273
Inventories		243
Other current assets		18
Deferred software development costs		2,520
Fixed assets		47
Intangibles		1,220
Goodwill		1,634
Deferred tax liability		(1,090	)
Accounts payable & current liabilities		(80	)
Purchase Price 1	$	5,294

Pro-forma financial information has

not

been presented for this acquisition because it is

not

considered material to the Company’s financial position or results of operations.

________________________________

$1,833

1,555

(

$1.8

million discounted at

) =

$3,388

purchase price divided by

64%

$5.294

million.

XML 26 R13.htm IDEA: XBRL DOCUMENT

Note 4 - Stock-based Compensation

12 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

STOCK-BASED COMPENSATION

Long-Term Incentive Plan

During the quarter ended

December 31, 2012,

the Company implemented The L.S. Starrett Company

2012

Long-Term Incentive Plan (the

“2012

Stock Incentive Plan”), which was adopted by the Board of Directors

September 5, 2012

and approved by shareholders

October 17, 2012.

The

2012

Stock Incentive Plan permits the granting of the following types of awards to officers, other employees and non-employee directors: stock options; restricted stock awards; unrestricted stock awards; stock appreciation rights; stock units including restricted stock units; performance awards; cash-based awards; and awards other than previously described that are convertible or otherwise based on stock. The

2012

Stock Incentive Plan provides for the issuance of up to

500,000

shares of common stock.

Options granted vest in periods ranging from

one

year to

three

years and expire

ten

years after the grant date. Restricted stock units (“RSU”) granted generally vest from

one

year to

three

years. Vested restricted stock units will be settled in shares of common stock. As of

June 30, 2017,

there were

20,000

stock options and

105,634

restricted stock units outstanding. In addition, there were

346,600

shares available for grant under the

2012

Stock Incentive Plan as of

June 30, 2017.

There were

stock options granted during fiscal years

2017,

2016

2015.

The weighted average contractual term for stock options outstanding as of

June 30, 2017

was

5.5

years. The aggregate intrinsic value of stock options outstanding as of

June 30, 2017

was less than

$0.1

million. There were

20,000

options exercisable as of

June 30, 2017.

In recognizing stock compensation expense for the

2012

Stock Incentive Plan management has estimated that there will be

forfeitures of options.

The Company accounts for RSU awards by recognizing the expense of the intrinsic value at award date ratably over vesting periods generally ranging from

one

year to

three

years. The related expense is included in selling, general and administrative expenses. During the year ended

June 30, 2017,

the Company granted

45,000

RSU awards with fair values of

$10.86

per RSU award. During the year ended

June 30, 2016,

the Company granted

40,200

RSU awards with fair values of

$15.11

per RSU award. During the year ended

June 30, 2015,

the Company granted

39,500

RSU awards with fair values of

$17.49

per RSU award.

There were

12,732

and

9,067

RSU awards settled in fiscal years

2017

and

2016

respectively. The aggregate intrinsic value of RSU awards outstanding as of

June 30, 2017

was

$0.9

million. The aggregate intrinsic value of RSU awards outstanding as of

June 30, 2016

was

$0.9

million. Compensation expense related to the

2012

Stock Incentive Plan was

$223,000,

$214,000

and

$146,000

for fiscal

2017,

2016

and

2015

respectively. As of

June 30, 2017,

there was

$1.3

million of total unrecognized compensation costs related to outstanding stock-based compensation arrangements.

Of this cost

$1.1

million relates to performance based RSU grants that are

not

expected to be awarded. The remaining

$0.2

million is expected to be recognized over a weighted average period of

1.3

years.

Employee Stock Purchase Plan

five

years. Under these plans the purchase price of the optioned stock is

85%

of the lower of the market price on the date the option is granted or the date it is exercised. Options become exercisable exactly

two

years from the date of grant and expire if

not

exercised on such date.

options were exercisable at fiscal year ends. The Board of Directors last approved an ESPP renewal in

2012.

additional options will be granted under the previous

2007

plan. A summary of option activity is as follows:

	Shares On Option			Weighted Average Exercise Price		Shares Available For Grant
Balance, June 30, 2014		75,388					424,612
Options granted		35,208			13.97		(35,208	)
Options exercised		(30,718	)		8.82		-
Options canceled		(25,571	)				25,571
Balance, June 30, 2015		54,307					414,975
Options granted		52,836			9.37		(52,836	)
Options exercised		(15,523	)		9.57		-
Options canceled		(27,705	)				27,705
Balance, June 30, 2016		63,915					389,844
Options granted		55,766			7.88		(55,766	)
Options exercised		(10,893	)		8.34		-
Options canceled		(31,503	)				31,503
Balance, June 30, 2017		77,285					365,581

The following information relates to outstanding options as of

June 30, 2017:

Weighted average remaining life (years)		1.3
Weighted average fair value on grant date of options granted in:
2015	$	4.68
2016		3.34
2017		2.76

The fair value of each option grant was estimated on the date of grant based on the Black-Scholes option pricing model with the following weighted average assumptions: expected stock volatility –

40.78%

–

43.00%,

risk free interest rate –

0.81%

–

1.27%,

expected dividend yield -

4.11%

4.42%

and expected lives -

years. Compensation expense of

$0.15

million,

$0.14

million and

$0.14

million has been recorded for fiscal

2017,

2016

and

2015,

respectively.

Employee Stock Ownership Plan

February 5, 2013,

the Board of Directors adopted The L.S. Starrett Company

2013

Employee Stock Ownership Plan (the

“2013

ESOP”).

The purpose of the plan is to supplement existing Company programs through an employer funded individual account plan dedicated to investment in common stock of the Company, thereby encouraging increased ownership of the Company while providing an additional source of retirement income. The plan is intended as an employee stock ownership plan within the meaning of Section

4975

(e) (

) of the Internal Revenue Code of

1986,

as amended. U.S. employees who have completed a year of service as of

December 31, 2012

are eligible to participate.

There was

compensation expense for the ESOP in

2015,

2016

2017.

XML 27 R14.htm IDEA: XBRL DOCUMENT

Note 5 - Cash and Short-term Investments	12 Months Ended
Note 5 - Cash and Short-term Investments	Jun. 30, 2017
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 $9.0 million and $10.2 million at June 30, 2017 and June 30, 2016, respectively. Of the June 30, 2017 balance, $4.2 million in U.S. dollar equivalents was held in British Pounds Sterling and $2.0 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.

XML 28 R15.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories

12 Months Ended

Jun. 30, 2017

Inventory Disclosure [Text Block]

INVENTORIES

Inventories consist of the following (in thousands):

	June 30, 2017			June 30, 2016
Raw materials and supplies	$	26,293		$	29,209
Goods in process and finished parts		16,419			16,459
Finished goods		41,591			39,449
		84,303			85,117
LIFO reserve		(26,206	)		(28,796	)
	$	58,097		$	56,321

LIFO inventories were

$7.7

million and

$10.5

million at

June 30, 2017

and

June 30, 2016,

respectively, such amounts being approximately

$26.2

million and

$28.8

million, respectively, less than if determined on a FIFO basis. The use of LIFO, as compared to FIFO, resulted in a

$2.6

million decrease in cost of sales for the goods sold in fiscal

2017

compared to a

$0.8

million increase in fiscal

2016.

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Note 7 - Goodwill and Intangibles

12 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND INTANGIBLES

The following tables present information about the Company’s goodwill and identifiable intangible assets on the dates indicated (in thousands):

	June 30, 2017							June 30, 2016
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Goodwill	$	4,668	$	-		$	4,668	$	3,034	$	-		$	3,034
Identifiable intangible assets		17,117		(7,249	)		9,868		12,115		(5,625	)		6,490

Identifiable intangible assets consist of the following (in thousands):

	June 30, 2017			June 30, 2016
Non-compete agreements	$	600		$	600
Trademarks and trade names		2,070			1,480
Completed technology		2,358			2,358
Customer relationships		5,580			4,950
Software development		6,184			2,402
Other intangible assets		325			325
Total		17,117			12,115
Accumulated amortization		(7,249	)		(5,625	)
Total net balance	$	9,868		$	6,490

Identifiable intangible assets are being amortized on a straight-line basis over the period of expected economic benefit.

The estimated aggregate amortization expense for each of the next

five

years, and thereafter, is as follows (in thousands):

Fiscal Year
2018	$	2,086
2019		2,008
2020		1,484
2021		1,081
2022		848
Thereafter		2,361

The Company performed a qualitative analysis in accordance with ASU

2011

of its Bytewise reporting unit for its

October

2016

annual assessment of goodwill (commonly referred to as “Step Zero”). From a qualitative perspective, in evaluating whether it is more likely than

not

that the fair value of the reporting units is

not

less than its carrying amount, relevant events and circumstances were taken into account, with greater weight assigned to events and circumstances that most affect the fair value of Bytewise or the carrying amounts of its assets. Items that were considered included, but were

not

limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, changes in management or key personnel, and other Bytewise specific events. After assessing these and other factors the Company determined that it was more likely than

not

that the fair value of the Bytewise reporting unit was

not

less than the carrying amount as of

October 1, 2016.

There were

triggering events identified from the annual assessment date through the fiscal year-end.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

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Note 8 - Property, Plant and Equipment

12 Months Ended

Jun. 30, 2017

Property, Plant and Equipment Disclosure [Text Block]

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following as of

June 30, 2017

and

2016

(in thousands):

	As of June 30, 2017
	Cost		Accumulated Depreciation			Net
Land	$	1,223	$	-		$	1,223
Buildings and building improvements		44,980		(29,641	)		15,339
Machinery and equipment		124,315		(101,532	)		22,783
Total	$	170,518	$	(131,173	)	$	39,345

	As of June 30, 201 6
	Cost		Accumulated Depreciation			Net
Land	$	1,314	$	-		$	1,314
Buildings and building improvements		45,486		(29,595	)		15,891
Machinery and equipment		126,882		(103,077	)		23,805
Total	$	173,682	$	(132,672	)	$	41,010

assets under capital leases are included in machinery and equipment as of

June 30, 2017

June 30, 2016.

Operating lease expense was

$2.3

million,

$2.3

million and

$2.2

million in fiscal

2017,

2016

and

2015,

respectively. Future commitments under operating leases are as follows (in thousands):

Fiscal Year
2018	$	2,356
2019		2,052
2020		1,635
2021		1,623
2022		457
Thereafter		1,536
	$	9,659

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Note 9 - Impairment of Assets and Restructuring Costs	12 Months Ended
Note 9 - Impairment of Assets and Restructuring Costs	Jun. 30, 2017
Notes to Financial Statements
Asset Impairment Charges [Text Block]	9. IMPAIRMENT OF ASSETS AND RESTRUCTURING COSTS In fiscal 2016, the Company adopted a plan to consolidate certain saw manufacturing operations for greater efficiency. This restructuring generally shifted production from facilities in the U.S. and China to facilities in the U.K. and Brazil and was carried out during fiscal 2017. A primary element of the plan involved transfer of production of certain saw products from its facility in Mt. Airy, North Carolina to its facility in Itú, Brazil. Because the transfer left one of the buildings at the Mt. Airy facility vacant, the Company determined in fiscal 2016 that the carrying value of the building exceeded its fair value. Consequently, the Company recorded an impairment loss of $4,114,000, which represents the excess of the carrying value of the building over its fair value. The Company determined the amount of the impairment charge by relating the square footage of the vacated section of the building complex with the values in its fixed asset registers specifically related to that building addition. Fair value of the vacated section of the complex was determined by comparison to the price per square foot obtained in recent sales of similar property in the local region. The impairment loss is recorded as a separate line item (‘‘Impairment of assets’’) in the Consolidated Statement of Operations for fiscal 2016. The vacated building is one within a larger complex of buildings which remains in use. While a particular area of the production floor has been vacated, the Company does not intend to close the facility or to decommission machinery and equipment. In addition to the impairment loss recognized in fiscal 2016, the Company has incurred $988 ,000 in related restructuring charges , representing severance compensation, equipment installation and freight costs, in fiscal 2017.

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Note 10 - Other Income and Expense

12 Months Ended

Jun. 30, 2017

Other Income and Other Expense Disclosure [Text Block]

10.

OTHER INCOME AND EXPENSE

Other income and expense consists of the following (in thousands):

	201 7			201 6			201 5
Interest income	$	399			504		$	828
Interest expense		(674	)		(669	)		(713	)
Foreign currency gain (loss), net		(86	)		(59	)		705
Income (loss) from equity investment		(307	)		118			203
Brazil recovery of export taxes		-			-			232
Patent lawsuit settlement		(100	)		-			-
Sale of scrap material		71			95			93
Other income (expense), net		190			81			(9	)
	$	(507	)		70		$	1,339

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Note 11 - Income Taxes

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Text Block]

11.

INCOME TAXES

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

	2017			2016			2015
Domestic operations	$	(1,547	)	$	(17,541	)	$	8,118
Foreign operations		3,085			(2,834	)		1,824
	$	1,538		$	(20,375	)	$	9,942

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

	2017			2016			2015
Current:
Federal	$	(989	)	$	(317	)	$	1,744
Foreign		999			866			1,855
State		39			94			114
Deferred:
Federal		597			(6,092	)		670
Foreign		(85	)		47			(71	)
State		14			(843	)		386
	$	545		$	(6,245	)	$	4,698

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

	2017			2016			2015
Expected tax expense	$	523		$	(6,928	)	$	3,380
State taxes, net of federal effect		9			(740	)		378
Foreign taxes, net of federal credits		(210	)		278			235
Change in valuation allowance		(107	)		196			(51	)
Tax reserve adjustments		272			250			361
Return to provision and other adjustments		(17	)		(167	)		(332	)
Losses not benefited		123			885			701
Tax rate change applied to deferred tax balances		315			-			-
Canada Real Estate Gain Deduction		(337	)		-			-
Other permanent items		(24	)		(19	)		26
Actual tax expense (benefit)	$	547		$	(6,245	)	$	4,698

The tax rate in fiscal

2017

is slightly higher than the U.S. statutory rate since the benefit of earnings in foreign jurisdictions with lower effective tax rates and a

one

-time tax benefit in Canada was more than offset by discrete tax charges including the impact of a tax rate change from

20%

17%

in the U.K. applied to deferred tax assets which increased tax expense by

$0.3

million.

As a result of closing and selling the warehouse and product assembly center in Canada, the Canadian subsidiary had cash in excess of its long term needs. Thus, there

was a dividend of

$2.0

million paid from the Company’s subsidiary in Canada to the U.S. parent company out of the subsidiary’s fiscal

2017

earnings. While the dividend is fully taxable in the U.S.,

the impact to tax expense was negligible due to the use of foreign tax credits.

The tax benefit rate of

30.7%

on the pre-tax loss of

$20.4

million in the year ended

June 30, 2016

was lower than the U.S. statutory rate due primarily to losses in foreign entities for which

tax benefit was taken. Substantial benefit was reflected for US federal and state income taxes primarily as a result of increases in deferred tax assets related to pension expense and the write-down of fixed assets. In fiscal

2016,

several of the subsidiaries in foreign countries reported financial losses. In these cases,

tax benefit from those losses was recognized and an additional valuation allowance was taken to reduce any deferred tax assets since future income is

not

more likely than

not

to be recognized.

The tax rate in fiscal

2015

was higher than the U.S. Statutory rate because of losses in foreign subsidiaries that were

not

able to be benefitted for tax purposes. There was a dividend of

$2.3

million paid from the Company’s subsidiary in Brazil to the U.S. parent company out of the subsidiary’s fiscal

2015

earnings. While the dividend is fully taxable in the U.S., the impact to tax expense was negligible due to the use of foreign tax credits.

Net deferred tax assets at

June 30, 2017

are

$26.0

million. While these deferred tax assets reflect the tax effect of temporary differences between book and taxable income in all jurisdictions in which the Company has operations, the majority of the assets relate to operations in the U.S. where the Company had book losses in the current year. U.S. net deferred assets are

$22.9

million with a valuation allowance of

$2.9

million. The Company has considered the positive and negative evidence to determine the need for a valuation allowance offsetting the deferred tax assets in the U.S. and has concluded that it is more likely than

not

that the deferred tax assets net of the recorded valuation allowance will be realized.

Key positive evidence considered include: a) Significant domestic book profits in

2015

and

2014;

b) losses in fiscal

2016

are primarily due to

one

-time events including a

$19

million pension expense, most of which is

not

deductible for tax purposes until paid; c) cost saving plans are being implemented by the Company; d) prior year taxable income is available for carryback losses; e) tax planning opportunities, including an election to revoke the LIFO election; and f) forecasted domestic profits for future years. The negative evidence considered is that fiscal years

2017

and

2016

showed domestic book and tax losses.

In fiscal

2017,

the valuation allowance decreased by

$2.3

million primarily due to the use of foreign net operating losses previously fully valued. This was partly offset by an increase in foreign tax credits in excess of the limitation on their use as a result of limited foreign source income. In fiscal

2016,

the valuation allowance increased by

$0.7

million primarily due to the increase in foreign losses.

Deferred income taxes at

June 30, 2017

and

2016

are attributable to the following (in thousands):

	2017			2016
Deferred tax assets (liabilities):
Inventories	$	1,753		$	2,888
Employee benefits (other than pension)		807			988
Book reserves		725			1,347
State NOL, various carryforward periods		786			975
Foreign NOL, various carryforward periods		452			1,738
Foreign tax credit carryforward, expiring 2018 – 2027		4,222			2,638
Pension benefits		16,074			19,573
Retiree medical benefits		2,679			2,790
Depreciation		134			99
Intangibles		(269	)		1,243
Federal research and development and AMT credit carryforward		545			-
Other		1,046			582
Total deferred tax assets		28,954			34,861
Valuation allowance		(2,922	)		(5,246	)
Net deferred tax asset	$	26,032		$	29,615

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

Balance at June 30, 2014	$	(11,209	)
Increase for tax positions taken during the current period		(405	)
Effect of exchange rate changes		440
Decrease relating to lapse of applicable statute of limitations		42
Balance at June 30, 2015		(11,132	)
Increase for tax positions taken during the current period		(184	)
Effect of exchange rate changes		82
Decrease relating to lapse of applicable statute of limitations		414
Balance at June 30, 2016		(10,820	)
Increase for tax positions taken during the current period		(813	)
Effect of exchange rate changes		38
Decrease relating to lapse of applicable statute of limitations		7
Balance at June 30, 2017	$	(11,588	)

The long-term tax obligations as of

June 30, 2017,

2016

and

2015

relate primarily to transfer pricing adjustments. The Company has also recorded a non-current tax receivable for

$2.6

million and

$2.7

million at

June 30, 2017

and

2016,

respectively, representing the corollary effect of transfer pricing competent authority adjustments.

The Company has identified uncertain tax positions at

June 30, 2017

for which it is possible that the total amount of unrecognized tax benefits will decrease within the next

twelve

months by

$0.2

million. The Company recognizes interest and penalties related to income tax matters in income tax expense and has booked an increase of

$0.1

million in fiscal

2017

for interest expense.

The Company’s U.S. federal tax returns for years prior to fiscal

2014

are

longer subject to U.S. federal examination by the Internal Revenue Service; however, tax losses carried forward from earlier years are still subject to review and adjustment. As of

June 30, 2017,

the Company has resolved all open income tax audits. In international jurisdictions, the years that

may

be examined vary by country. The Company’s most significant foreign subsidiary in Brazil is subject to audit for the calendar years

2012

through

2016.

The state tax loss carryforwards tax effected benefit of

$0.8

million expires at various times over the next

years. The foreign tax credit carryforward of

$4.2

million expires in the years

2018

through

2027;

amounts expiring in the next

years have a full valuation allowance against it. The research and development tax credit carryforward of

$0.5

million expires in the years

2022

through

2036.

June 30, 2017,

the estimated amount of total unremitted earnings of foreign subsidiaries is

$65

million. The Company received a cash dividend from foreign subsidiaries of

$2.0

million in fiscal

2017

and of

$2.3

million in fiscal

2015

out of earnings for those years. The Company has

plans to repatriate prior year earnings of its foreign subsidiaries and, accordingly,

estimate of the unrecognized deferred taxes related to these earnings has been made. 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.

XML 34 R21.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans

12 Months Ended

Jun. 30, 2017

Pension and Other Postretirement Benefits Disclosure [Text Block]

12.

EMPLOYEE BENEFIT AND RETIREMENT PLANS

The Company has

two

defined benefit pension plans,

one

for U.S. employees and another for U.K. employees. The UK plan was closed to new entrants in fiscal

2009.

The Company has a postretirement medical and life insurance benefit plan for U.S. employees. The Company also has defined contribution plans.

December 21, 2016,

the Company amended the U.S. defined benefit pension plan to freeze benefit accruals effective

December 31, 2016.

Consequently, the Plan will be closed to new participants and current participants will

longer earn additional benefits after

December 31, 2016.

The amendment of the defined benefit pension plan triggered a pension curtailment which required a remeasurement of the Plan's obligation as of

December 31, 2016.

The remeasurement resulted in a decrease in the benefit obligation of approximately

$6.9

million primarily due to an increase in the discount rate from

3.77%

4.31%,

with an additional

$4.2

million decrease resulting from the impact of the curtailment. These reductions in the Plan’s benefit obligation were recorded as other comprehensive income, net of taxes.

The Company amended its Postretirement Medical Plan effective

December 31, 2013

whereby the Company terminated eligibility for employees ages

64.

For retirees

and older, the Company’s contribution is fixed at

$28.50

$23.00

per month depending upon the plan the retiree has chosen.

The total cost of all such plans for fiscal

2017,

2016

and

2015

was

$3.9

million,

$22.2

million and

$4.6

million, respectively. Included in these amounts are the Company’s contributions to the defined contribution plans amounting to

$1.3

million,

$0.8

million and

$0.8

million in fiscal

2017,

2016

and

2015,

respectively.

40%

70%

in equities (including

10%

20%

in Company stock), and

30%

60%

in cash and debt securities.

In fiscal

2018

the Company will use an expected long-term rate of return assumption of

5.0%

for the U.S. domestic pension plan, and

3.0%

for the U.K. plan. In determining these assumptions, the Company considers the historical returns and expectations for future returns for each asset class as well as the target asset allocation of the pension portfolio as a whole. In fiscal

2017

and

2016,

the Company used a discount rate assumption of

3.9%

and

3.8%

for the U.S. plan and

2.7%

and

3.0%

for the U.K. plan, respectively. In determining these assumptions, the Company considers published

third

party data appropriate for the plans.

Other than the discount rate, pension valuation assumptions are generally long-term and

not

subject to short-term market fluctuations, although they

may

be adjusted as warranted by structural shifts in economic or demographic outlooks. Long-term assumptions are reviewed annually to ensure they do

not

produce results inconsistent with current market conditions. The discount rate is adjusted annually based on corporate investment grade (rated AA or better) bond yields, the maturities of which are correlated with the expected timing of future benefit payments, as of the measurement date.

Based upon the actuarial valuations performed on the Company’s defined benefit plans as of

June 30, 2017,

the U.S. plans will require a

$3.3

million contribution in fiscal

2018

and the U.K. plan will require a

$1.0

million contribution in fiscal

2018.

The table below sets forth the actual asset allocation for the assets within the Company’s plans.

	2017			2016
Asset category:
Cash equivalents		1	%		0	%
Fixed income		18	%		18	%
Equities		24	%		27	%
Mutual and pooled funds		57	%		55	%
		100	%		100	%

Cash equivalents are held in money market funds.

In accordance with “ASC

820

Fair Value Measurement”, the Company has categorized its financial assets (including its pension plan assets), based on the priority of the inputs to the valuation technique, into a

three

-level fair value hierarchy as set forth below. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Financial assets are categorized based on the inputs to the valuation techniques as follows:

Level

– Financial assets whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which the Company has the ability to access at the measurement date.

Level

– Financial assets whose value are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets.

Level

– Financial assets whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own view about the assumptions a market participant would use in pricing the asset.

The tables below show the portfolio by valuation category as of

June 30, 2017

and

June 30, 2016 (

in thousands).

June 30, 2017
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	780	$	-	$	-	$	780		1	%
Fixed Income		-		21,128		-		21,128		18	%
Equities		26,580		1,709		-		28,289		24	%
Mutual & Pooled Funds		31,867		35,714		-		67,581		57	%
Total	$	59,227	$	58,551	$	-	$	117,778		100	%

June 30, 201 6
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	672	$	-	$	-	$	672		0	%
Fixed Income		-		20,342		-		20,342		18	%
Equities		28,639		2,435		-		31,074		27	%
Mutual & Pooled Funds		30,057		30,060		2,810		62,927		55	%
Total	$	59,368	$	52,837	$	2,810	$	115,015		100	%

Included in equity securities at

June 30, 2017

and

2016

are shares of the Company’s common stock having a fair value of

$6.9

million and

$9.7

million, respectively.

A reconciliation of the beginning and ending balances of Level

assets is as follows (in thousands):

	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	2017			2016

Beginning balance	$	2,810		$	4,084
Actual returns on assets		-			(718	)
Translation gain (loss)		-			(556	)
Transferred out of Level 3		(2,810	)		-

Ending balance	$	-		$	2,810

The Level

assets consist of units of a pooled investment fund which invests in a mix of properties selected from across retail, office, industrial and other sectors predominantly located in the U.K. In addition to direct investments, the fund

may

also invest indirectly in property through investment vehicles such as quoted and unquoted property companies or collective investment trusts. Redemptions from the fund are

not

readily available given the illiquid nature of its assets.

U.S. and U.K. Plans Combined:

The status of these defined benefit plans is as follows (in thousands):

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	175,233		$	166,189		$	161,062
Service cost		1,405			2,757			2,663
Interest cost		6,246			7,032			6,818
Plan curtailment		(4,170	)		-			-
Exchange rate changes		(909	)		(7,825	)		(4,167	)
Benefits paid		(6,902	)		(6,590	)		(6,524	)
Actuarial (gain) loss		(1,207	)		13,670			6,337
Benefit obligation at end of year	$	169,696		$	175,233		$	166,189

Change in plan assets
Fair value of plan assets at beginning of year		115,015			122,787			122,924
Actual return on plan assets		5,302			226			3,466
Employer contributions		5,000			4,482			6,049
Benefits paid		(6,902	)		(6,590	)		(6,524	)
Exchange rate changes		(637	)		(5,890	)		(3,128	)
Fair value of plan assets at end of year		117,778			115,015			122,787
Funded status at end of year	$	(51,918	)	$	(60,218	)	$	(43,402	)
Amounts recognized in balance sheet
Current liability	$	(63	)	$	(45	)	$	(37	)
Noncurrent liability		(51,855	)		(60,173	)		(43,365	)
Net amount recognized in balance sheet	$	(51,918	)	$	(60,218	)	$	(43,402	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(12,131	)		(17,849	)		(16,795	)
Amounts not yet recognized as a component of net periodic benefit cost		(12,131	)		(17,849	)		(16,795	)
Accumulated net periodic benefit cost in excess of contributions		(39,787	)		(42,369	)		(26,607	)
Net amount recognized	$	(51,918	)	$	(60,218	)	$	(43,402	)

Components of net periodic benefit cost
Service cost	$	1,405		$	2,757		$	2,663
Interest cost		6,246			7,032			6,818
Expected return on plan assets		(5,173	)		(6,268	)		(6,966	)
Recognized actuarial loss		107			17,878			1,309
Net periodic benefit cost	$	2,585		$	21,399		$	3,824

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(26	)		(114	)		(53	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	169,696		$	175,233		$	166,189
Accumulated benefit obligation		169,696			168,119			159,174
Fair value of assets		117,779			115,015			122,787

U.S. Plan:

The status of the U.S. defined benefit plan is as follows (in thousands):

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	130,863		$	116,398		$	110,054
Service cost		1,405			2,757			2,663
Interest cost		4,994			5,248			4,839
Plan curtailment		(4,170	)		-			-
Benefits paid		(5,106	)		(4,593	)		(4,372	)
Actuarial loss		(3,848	)		11,053			3,214
Benefit obligation at end of year	$	124,138		$	130,863		$	116,398

Weighted average assumptions – benefit obligation
Discount rate		3.92	%		3.77	%		4.49	%
Rate of compensation increase	Varies			Varies			Varies

Change in plan assets
Fair value of plan assets at beginning of year	$	81,910		$	84,853		$	84,629
Actual return on plan assets		1,079			(1,730	)		(274	)
Employer contributions		4,045			3,380			4,870
Benefits paid		(5,106	)		(4,593	)		(4,372	)
Fair value of plan assets at end of year		81,928			81,910			84,853
Funded status at end of year	$	(42,210	)	$	(48,953	)	$	(31,545	)

Amounts recognized in balance sheet
Current liability	$	(63	)	$	(45	)	$	(37	)
Noncurrent liability		(42,147	)		(48,908	)		(31,508	)
Net amount recognized in balance sheet	$	(42,210	)	$	(48,953	)	$	(31,545	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.77	%		4.49	%		4.29	%
Rate of compensation increase	Varies			Varies			Varies
Return on plan assets		5.00	%		5.50	%		6.00	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(8,254	)		(13,412	)		(11,817	)
Amounts not yet recognized as a component of net periodic benefit cost		(8,254	)		(13,412	)		(11,817	)
Accumulated contributions less than net periodic benefit cost		(33,956	)		(35,541	)		(19,728	)
Net amount recognized	$	(42,210	)	$	(48,953	)	$	(31,545	)

Components of net periodic benefit cost
Service cost	$	1,405		$	2,757		$	2,663
Interest cost		4,994			5,248			4,839
Expected return on plan assets		(4,046	)		(4,589	)		(5,063	)
Recognized actuarial loss		107			15,779			319
Net periodic benefit cost	$	2,460		$	19,195		$	2,758

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(26	)		(114	)		(53	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	124,138		$	130,863		$	116,398
Accumulated benefit obligation		124,138			123,749			109,383
Fair value of assets		81,928			81,910			84,853

U.K. Plan:

The status of the U.K. defined benefit plan is as follows (in thousands):

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	44,370		$	49,791		$	51,008
Interest cost		1,252			1,784			1,979
Exchange rate changes		(909	)		(7,825	)		(4,167	)
Benefits paid		(1,796	)		(1,997	)		(2,152	)
Actuarial loss		2,641			2,617			3,123
Benefit obligation at end of year	$	45,558		$	44,370		$	49,791

Weighted average assumptions - benefit obligation
Discount rate		2.73	%		3.00	%		3.90	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	33,105		$	37,934		$	38,295
Actual return on plan assets		4,223			1,956			3,740
Employer contributions		954			1,102			1,179
Benefits paid		(1,796	)		(1,997	)		(2,152	)
Exchange rate changes		(636	)		(5,890	)		(3,128	)
Fair value of plan assets at end of year		35,850			33,105			37,934
Funded status at end of year	$	(9,708	)	$	(11,265	)		(11,857	)
Amounts recognized in balance sheet
Current liability	$	—		$	—		$	—
Noncurrent liability		(9,708	)		(11,265	)		(11,857	)
Net amount recognized in balance sheet	$	(9,708	)	$	(11,265	)	$	(11,857	)

Weighted average assumptions – net periodic benefit cost

Discount rate		3.00	%		3.90	%		4.30	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		3.59	%		4.77	%		5.45	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	—		$	—		$	—
Accumulated loss		(3,877	)		(4,437	)		(4,978	)
Amounts not yet recognized as a component of net periodic benefit cost		(3,877	)		(4,437	)		(4,978	)
Accumulated net periodic benefit cost in excess of contributions		(5,831	)		(6,828	)		(6,879	)
Net amount recognized	$	(9,708	)	$	(11,265	)	$	(11,857	)

Components of net periodic benefit cost
Service cost	$	—		$	—		$	—
Interest cost		1,252			1,784			1,979
Expected return on plan assets		(1,127	)		(1,679	)		(1,903	)
Amortization of net loss		—			2,099			990
Net periodic benefit cost	$	125		$	2,204		$	1,066

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year	$	—		$	—		$	—

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	45,558		$	44,370		$	49,791
Accumulated benefit obligation		45,558			44,370			49,791
Fair value of assets		35,851			33,104			37,934

Postretirement Medical and Life Insurance Benefits:

The status of the U.S. postretirement medical and life insurance benefit plan is as follows (in thousands):

	2017			2016			2015
Change in benefit obligation:
Benefit obligation at beginning of year	$	7,381		$	6,611		$	5,867
Service cost		85			105			113
Interest cost		269			287			244
Benefits paid		(483	)		(772	)		(647	)
Actuarial (gain) loss		(166	)		1,150			1,034
Benefit obligation at end of year	$	7,086		$	7,381		$	6,611

Weighted average assumptions: benefit obligations
Discount rate		3.92	%		3.77	%		4.49	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Change in plan assets
Fair value of plan assets at beginning of year	$	—		$	—		$	—
Employer contributions		483			772			647
Benefits paid, net of employee contributions		(483	)		(772	)		(647	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(370	)	$	(396	)	$	(441	)
Non-current postretirement benefit obligation		(6,716	)		(6,985	)		(6,170	)
Net amount recognized in balance sheet	$	(7,086	)	$	(7,381	)	$	(6,611	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.77	%		4.49	%		4.29	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service credit	$	3,851		$	4,523		$	5,305
Accumulated gain (loss)		(1,696	)		(1,983	)		(850	)
Amounts not yet recognized as a component of net periodic benefit cost		2,155			2,540			4,455
Net periodic benefit cost in excess of accumulated contributions		(9,241	)		(9,921	)		(11,066	)
Net amount recognized	$	(7,086	)	$	(7,381	)	$	(6,611	)

Components of net periodic benefit cost
Service cost	$	85		$	105		$	113
Interest cost		269			287			244
Amortization of prior service credit		(673	)		(781	)		(799	)
Amortization of accumulated loss		121			15			—
Net periodic benefit cost	$	(198	)	$	(374	)	$	(442	)


Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	673		$	781
Net loss		(99	)		(120	)		(15	)
	$	438		$	553		$	766


Healthcare cost trend rate assumed for next year		6.60	%		6.90	%		8.00	%
Rate to which the cost trend rate gradually declines		4.50	%		4.50	%		4.50	%
Year that the rate reaches the rate at which it is assumed to remain	2037			2037			2028

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A

one

percentage point change in assumed health care cost trend rates would have the following effects (in thousands):

	1% Increase
	2017		2016		2015
Effect on total of service and interest cost	$	-	$	-	$	-
Effect on postretirement benefit obligation		2		2		4

	1% Decrease
	2017			2016			2015
Effect on total of service and interest cost	$	-		$	-		$	-
Effect on postretirement benefit obligation		(2	)		(2	)		(4	)

For fiscal

2018,

the Company expects to make a

$3.3

million contribution to the domestic pension plans,

$1.0

million to the U.K. pension plan, and

$370,000

to the postretirement medical and life insurance plan.

Future pension and other benefit payments are as follows (in thousands):

Fiscal Year	Pension		Other Benefits
2018	$	6,874	$	370
2019		7,132		362
2020		7,368		367
2021		7,611		373
2022		7,986		381
2023-2027		43,702		1,937

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Note 13 - Debt

12 Months Ended

Jun. 30, 2017

Debt Disclosure [Text Block]

13.

DEBT

Debt is comprised of the following (in thousands):

	June 30, 2017		June 30, 2016
Short-term and current maturities
Loan and Security Agreement	$	11,514	$	1,543

Long-term debt
Loan and Security Agreement, net of current portion	$	6,095	$	17,109

Total debt	$	17,609	$	18,652

Future maturities of debt are as follows (in thousands):

Fiscal Year
2018	$	11,514
2019		1,688
2020		1,765
2021		1,846
2022		796
Thereafter		-
Total	$	17,609

The Company completed the negotiations for an amended Loan and Security Agreement which includes a Line of Credit and a term loan and executed the new agreement as of

April 25, 2015.

Borrowings under the Line of Credit

may

not

exceed

$23.0

million. The agreement expires on

April 30, 2018

and has an interest rate of LIBOR plus

1.5%.

The effective interest rate under the agreement for fiscal

2017

was

2.61%.

The material financial covenants of the amended Loan and Security Agreement are:

) funded debt to EBITDA, excluding non-cash and retirement benefit expenses (“maximum leverage”), cannot exceed

2.25

) annual capital expenditures cannot exceed

$15.0

million;

) maintain a Debt Service Coverage Rate of a minimum of

1.25

and

) maintain consolidated cash plus liquid investments of

not

less than

$10.0

million at any time. As of

June 30, 2017,

the Company was in compliance with all the covenants. The Company expects to be able to meet the covenants in future periods.

November 22, 2011,

in conjunction with the Bytewise acquisition, the Company entered into a new

$15.5

million term loan (the “Term Loan”) under the then existing Loan and Security Agreement. The Term Loan is a

ten

year loan bearing a fixed interest rate of

4.5%

and is payable in fixed monthly payments of principal and interest of

$160,640.

As of

June 30, 2017,

$7.7

million of the term loan was outstanding.

$23.0

million. As of

June 30, 2017,

the Company had borrowings of

$9.9

million under this facility. A

0.25%

commitment fee is charged on the unused portion of the Line of Credit.

The Company has

one

standby letter of credit totaling

$0.9

million which reduces the

$23.0

million available Line of Credit to

$22.1

million. As of

June 30, 2017,

the Company has approximately

$12.2

million available on the Line of Credit.

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Note 14 - Common Stock	12 Months Ended
Note 14 - Common Stock	Jun. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	14. COMMON STOCK Class B common stock is identical to Class A except that it has 10 votes per share, is generally nontransferable except to lineal descendants of stockholders, cannot receive more dividends than Class A, and can be converted to Class A at any time. Class A common stock is entitled to elect 25% of the directors to be elected at each meeting with the remaining 75% being elected by Class A and Class B voting together.

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Note 15 - Contingencies	12 Months Ended
Note 15 - Contingencies	Jun. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15. CONTINGENCIES The Company is involved in certain legal matters which arise in the normal course of business and are not expected to have a material impact on the Company’s financial condition, results of operations and cash flows.

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Note 16 - Concentration of Credit Risk	12 Months Ended
Note 16 - Concentration of Credit Risk	Jun. 30, 2017
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	16. CONCENTRATIONS OF CREDIT RISK The Company believes it has no significant concentration of credit risk as of June 30, 2017. Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries, with none exceeding 10% of consolidated sales.

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Note 17 - Financial Information by Segment and Geographic Area

12 Months Ended

Jun. 30, 2017

Segment Reporting Disclosure [Text Block]

17.

FINANCIAL INFORMATION BY SEGMENT & GEOGRAPHIC AREA

M1®

lubricant and precision ground flat stock. The Company reviews and manages its business geographically and has historically made decisions based on worldwide operations. In fiscal

2016,

the Company changed its reportable business segment from

one

reportable segment to

two

reportable segments, specifically, North American Operations and International Operations. The Company has recast its segment information disclosure for all periods presented to conform to this segment presentation.

two

operating segments that align with management’s review of operations and decisions to allocate resources.

	Year Ended June 30, 2017
	North America			International			Unallocated			Total
Sales 1	$	124,606		$	82,417		$	-		$	207,023
Restructuring charges		(82	)		(906	)		-			(988	)
Operating income		6,138			268			(7,450	)		(1,044	)
Capital expenditures and software development		2,765			3,071			-			5,836
Depreciation and amortization		4,551			2,475			-			7,026
Current assets 4		33,555			61,961			14,607			110,123
Long-lived assets 5		39,199			14,684			28,659			82,542

	Year Ended June 30, 2016
	North America			International			Unallocated			Total
Sales 2	$	130,108		$	79,577		$	-		$	209,685
Asset impairment		(4,114	)		-			-			(4,114	)
Operating income		(8,311	)		(3,117	)		(9,017	)		(20,445	)
Capital expenditures and software development		5,040			3,200			-			8,240
Depreciation and amortization		4,537			2,677			-			7,214
Current assets 4		33,787			62,810			24,314			120,911
Long-lived assets 5		36,539			13,995			30,153			80,687

	Year Ended June 30, 201 5
	North America		International		Unallocated			Total
Sales 3	$	137,085	$	104,465	$	-		$	241,550
Operating income		13,353		1,333		(6,083	)		8,603
Capital expenditures and software development		3,449		2,251		-			5,700
Depreciation and amortization		5,604		3,113		-			8,717
Current assets 4		41,240		68,656		23,517			133,413
Long-lived assets 5		40,506		14,066		24,287			78,859

Excludes

$7,902

of North American segment intercompany sales to the International segment and

$11,677

intercompany sales of the International segment to the North American segment.

Excludes

$8,259

of North American segment intercompany sales to the International segment and

$9,282

intercompany sales of the International segment to the North American segment.

Excludes

$12,276

of North American segment intercompany sales to the International segment and

$9,842

intercompany sales of the International segment to the North American segment.

Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets

not

allocated to the segments include cash and cash equivalents, deferred income taxes, and other non-current assets.

Long lived assets consist of property, plant and equipment, goodwill, and other intangible assets. Long term deferred and other tax assets are

not

allocated to the segments.

Geographic information about the Company’s sales and long-lived assets are as follows (in thousands):

Sales

	Year Ended June 30,
North America	2017		2016		2015
United States	$	115,562	$	119,638	$	125,534
Canada & Mexico		9,044		10,470		11,551
		124,606		130,108		137,085
International
Brazil		45,614		43,283		63,961
United Kingdom		24,954		24,485		26,691
China		6,873		7,207		8,357
Australia & New Zealand		4,976		4,602		5,456
		82,417		79,577		104,465
Total Sales	$	207,023	$	209,685	$	241,550

Long-lived Assets

	Year Ended June 30,
North America	2017		2016		2015
United States	$	39,131	$	36,189	$	40,146
Canada & Mexico		68		350		360
		39,199		36,539		40,506
International
Brazil		10,111		8,818		7,986
United Kingdom		1,976		2,143		2,647
China		2,426		2,887		3,291
Australia & New Zealand		171		147		142
		14,684		13,995		14,066

Total Long Lived Assets	$	53,883	$	50,534	$	54,572

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Note 18 - Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2017

Quarterly Financial Information [Text Block]

18.

QUARTERLY FINANCIAL DATA (unaudited)

(in thousands except per share data)

Quarter Ended	Net Sales		Gross Margin		Earnings Before Income Taxes			Net Earnings / (Loss)			Basic and Diluted Earnings / (Loss) Per Share
September 2015	$	51,038	$	15,852	$	482		$	(178	)	$	(0.03	)
December 2015		53,671		15,999		992			458			0.07
March 2016		50,329		14,733		1,199			597			0.09
June 2016		54,647		404		(23,048	)		(15,007	)		(2.14	)
	$	209,685	$	46,988	$	(20,375	)	$	(14,130	)	$	(2.01	)
September 2016	$	48,913	$	13,914	$	1,476		$	759		$	0.11
December 2016		53,187		16,822		1,517			1,063			0.15
March 2017		50,670		14,479		(1,244	)		(786	)		(0.11	)
June 2017		54,253		16,735		(211	)		(45	)		(0.01	)
	$	207,023	$	61,950	$	1,538		$	991		$	0.14

Fourth quarter sales in fiscal

2017

were

$0.4

million lower than in the

fourth

quarter of fiscal

2016.

North American sales decreased

$0.9

million offsetting a

$0.5

million increase in international sales. Gross margins increased

$16.3

million with a pension charge of

$14.2

million in fiscal

2016

representing approximately

87%

of the difference.

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Note 19 - Related Party Transactions	12 Months Ended
Note 19 - Related Party Transactions	Jun. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	19. RELATED PARTY TRANSACTIONS In the fourth quarter of fiscal 2016, Mr. Guilherme Camargo was appointed Operations Manager of Armco do Brasil S.A. (Armco.) Armco is the largest supplier of steel to our subsidiary in Brazil. Mr. Camargo is the son of Salvador de Camargo, who is the president of our subsidiary in Brazil and a member of the board of directors. The Company made annual purchases from Armco of $5.1 million, $3.2 million and $4.1 million in fiscal 2017, 2016 and 2015, respectively. The Company had accounts payable of $0.2 and $0.0 million as of June 30, 2017 and June 30, 2016, respectively.

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Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jun. 30, 2017

Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

Schedule II

Valuation and Qualifying Accounts

Allowance for Doubtful Accounts

(in 000)	Balance at Beginning of Period		Provisions		Charges to Other Accounts			Write-offs			Balance at End of Period

Allowance for Doubtful Accounts:
Year Ended June 30, 2017	$	887	$	284	$	(23	)	$	(202	)	$	946
Year Ended June 30, 2016		612		352		(2	)		(75	)		887
Year Ended June 30, 2015		704		179		(163	)		(108	)		612

Valuation Allowance on Deferred Tax Asset

(in 000)	Balance at Beginning of Period		Provisions		Charges to Other Accounts			Write-offs			Balance at End of Period


Year Ended June 30, 2017	$	5,246	$	117	$	1		$	(2,442	)	$	2,922
Year Ended June 30, 2016		4,501		1,193		(344	)		(104	)		5,246
Year Ended June 30, 2015		3,334		1,242		(24	)		(51	)		4,501

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Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation : The consolidated financial statements include the accounts of The L. S. Starrett Company and its subsidiaries, all of which are wholly-owned. All significant intercompany items have been eliminated in consolidation.
Financial Instruments and Derivatives [Policy Text Block]	Financial instruments and derivatives : The Company’s financial instruments include cash, investments and debt and are valued using level 1 inputs. Investments are stated at cost which approximates fair market value. The carrying value of debt, which is at current market interest rates, also approximates its fair value. The Company’s U.K. subsidiary utilizes forward exchange contracts to reduce currency risk. The notional amount of contracts outstanding as of June 30, 2017 and June 30, 2016 amounted to $1.4 million and $0.9 million, respectively.
Receivables, Policy [Policy Text Block]	Accounts receivable : Accounts receivable consist of trade receivables from customers. The expense for bad debts amounted to $0.3, $0.3, and $0.2 million in fiscal 2017, 2016 and 2015, respectively. In establishing the allowance for doubtful accounts, management considers historical losses, the aging of receivables and existing economic conditions.
Inventory, Policy [Policy Text Block]	Inventories : Inventories are stated at the lower of cost or market. Substantially all United States inventories are valued using the last-in- first -out (“LIFO”) method. All non-U.S. subsidiaries use the first -in- first -out (“FIFO”) method or the average cost method. LIFO is not a permissible method of inventory costing for tax purposes outside the U.S.
Property, Plant and Equipment, Policy [Policy Text Block]	Property Plant and Equipment : The cost of buildings and equipment is depreciated using straight-line and accelerated methods over their estimated useful lives as follows: buildings and building improvements 10 to 50 years, machinery and equipment 3 to 12 years. Leases are capitalized under the criteria set forth in Accounting Standards Codification (ASC) 840, “Leases” which establishes the four criteria of a capital lease. At least one of the four following criteria must be met for a lease to be considered a capital lease: a transfer of ownership of the property to the lessee by the end of the lease term; a bargain purchase option; a lease term that is greater than or equal to 75 percent of the economic life of the leased property; present value of the future minimum lease payments equals or exceeds 90 percent of the fair market value of the leased property. If none of the aforementioned criteria are met, the lease will be treated as an operating lease. Property plant and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. A gain or loss is recorded on individual fixed assets when retired or disposed of. Included in buildings and building improvements and machinery and equipment at June 30, 2017 and June 30, 2016 were $1.6 million and $2.9 million, respectively, of construction in progress. Repairs and maintenance of equipment are expensed as incurred. A decision to reduce saw manufacturing capacity was made in fiscal 2016 which required management to perform an impairment analysis. Consequently, the Company recorded an impairment loss of $4,114,000, which represents the excess of the carrying value of a building over its fair value. See also Impairment of Assets and Restructuring Costs (Note 9 to the Consolidated Financial Statements.)
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible assets : Identifiable intangibles are recorded at cost and are amortized on a straight-line basis over a 5 - 15 year period. The estimated useful lives of the intangible assets subject to amortization are: 10 - 15 years for patents, 14 - 20 years for trademarks and trade names, 5 - 10 years for completed technology, 8 years for non-compete agreements, 8 - 16 years for customer relationships and 5 years for software development. The Company tests identifiable intangible assets for impairment whenever events or circumstances indicate they may be impaired. Goodwill : Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization but is tested for impairment annually and at any time when events suggest impairment may have occurred. The Company annually tests the goodwill associated with the November 2011 acquisition of Bytewise in October. As of October 1, 2016, the Company performed an analysis of qualitative factors to determine whether it is more likely than not that the fair value of the Bytewise business is less than its carrying amount as a basis for determining whether it is necessary to perform a two -step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that it was not necessary to perform a two -step goodwill impairment test.
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition : Sales of merchandise and freight billed to customers are recognized when products have shipped, title and risk of loss has passed to the customer, no significant post-delivery obligations remain and collection of the resulting receivable is reasonably assured. Sales are presented net of provisions for cash discounts, returns, customer discounts (such as volume or trade discounts), and other sales related discounts. Cooperative advertising payments made to customers are included in selling, general and administrative expenses in the Consolidated Statements of Operations. While the Company does allow its customers the right to return in certain circumstances, revenue is not deferred, rather a reserve for sales returns is provided based on experience, which historically has not been significant.
Advertising Costs, Policy [Policy Text Block]	Advertising costs : The Company’s policy is to generally expense advertising costs as incurred, except catalogs costs, which are deferred until mailed. Advertising costs were expensed as follows: $5.2 million in fiscal 2017, $5.0 million in fiscal 2016 and $5.7 million in fiscal 2015 and are included in selling, general and administrative expenses.
Shipping and Handling Cost, Policy [Policy Text Block]	Freight costs : The cost of outbound freight and the cost for inbound freight included in material purchase costs are both included in cost of sales.
Standard Product Warranty, Policy [Policy Text Block]	Warranty expense : The Company’s warranty obligation is generally one year from shipment to the end user and is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. Historically, the Company has not incurred significant warranty expense and consequently its warranty reserves are not material.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Pension and Other Postretirement Benefits: The Company has two defined benefit pension plans, one for U.S. employees and another for U.K. employees. The Company also has defined contribution plans. The Company amended its Postretirement Medical Plan effective December 31, 2013, whereby the Company terminated eligibility for employees under the age of 65. On December 21, 2016, the Company amended the U.S. defined benefit pension plan to freeze benefit accruals effective December 31, 2016. Consequently, the Plan will be closed to new participants and current participants will no longer earn additional benefits after December 31, 2016. The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company’s current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company (MTM adjustment). This method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for 2017, 2016 and 2015 were $0.2 million, $17.8 million, and $1.3 million, respectively.
Income Tax, Policy [Policy Text Block]	Income taxes : Deferred tax expense results from differences in the timing of certain transactions for financial reporting and tax purposes. Deferred taxes have not been recorded on approximately $65 million of undistributed earnings of foreign subsidiaries as of June 30, 2017 and the related unrealized translation adjustments because such amounts are considered permanently invested. In addition, it is possible that remittance taxes, if any, would be reduced by U.S. foreign tax credits to the extent available. Valuation allowances are recognized if, based on the available evidence, it is more likely than not that some portion of the deferred tax assets will not be realized.
Research and Development Expense, Policy [Policy Text Block]	Research and development : Research and development costs are expensed, primarily in selling, general and administrative expenses, and were as follows: $1.9 million in fiscal 2017, $1.8 million in fiscal 2016, and $1.7 million in fiscal 2015 and are included in selling general and administrative expenses in the Consolidated Statements of Operations.
Earnings Per Share, Policy [Policy Text Block]	Earnings per share (EPS) : Basic EPS is computed by dividing earnings (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution by securities that could share in the earnings. The Company had 32,674, 32,833, and 40,214, of potentially dilutive common shares in fiscal 2017, 2016 and 2015, respectively, resulting from shares issuable under its stock option plans. These additional shares are not used in the diluted EPS calculation in loss years.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation of foreign currencies : The financial statements of our foreign subsidiaries, where the local currency is the functional currency, are translated at exchange rates in effect on reporting dates, and income and expense items are translated at average rates or rates in effect on transaction dates as appropriate. The resulting foreign currency translation adjustments are charged or credited directly to the other comprehensive income (loss) as noted in the Consolidated Statements of Comprehensive Income (Loss). Net foreign currency gains (losses) are disclosed in Note 10.
Use of Estimates, Policy [Policy Text Block]	Use of accounting estimates : The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Judgments, assumptions and estimates are used for, but not limited to: the allowances for doubtful accounts receivable and returned goods; inventory allowances; income tax valuation allowances, uncertain tax positions and pension obligations. Amounts ultimately realized could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements : In May 2014, the FASB issued a new standard related to “Revenue from Contracts with Customers” which amends the existing accounting standards for revenue recognition. The standard requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. This standard is applicable for fiscal years beginning after December 15, 2017 and for interim periods within those years. Earlier application will be permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company expects to adopt this standard on a modified prospective basis for its fiscal year beginning July 1, 2018. The Company primarily sells goods and recognizes revenues at point of sale or delivery, which will not change under the new standard. The Company does not sell extended warranties to its customers and believes that the majority of its warranties are standard in nature, requiring no separate performance obligations and therefore expects little to no change in the accounting for its warranties under ASU 2014 - 09. The Company has reviewed a sample of customer contracts that the Company believes is representative of its significant revenue streams identified for the current fiscal year. The assessment of the impact on revenue and expenses based on these reviews to determine the impact to the Company’s results of operations and cash flows as a result of this guidance is ongoing. In July 2015, the FASB issued ASU No. 2015 - 11, "Inventory (Topic 330 ): Simplifying the Measurement of Inventory." Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. ASU 2015 - 11 specifies that “market” is defined as “net realizable value,” or the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015 - 11 is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016 - 02, “Leases (Topic 842 )”. The ASU requires that organizations that lease assets recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. The ASU will affect the presentation of lease related expenses on the income statement and statement of cash flows and will increase the required disclosures related to leases. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016 - 02 on its consolidated financial statements. It is expected that a key change upon adoption will be the balance sheet recognition of leased assets and liabilities and that any changes in income statement recognition will not be material. In October 2016, the FASB issued ASU No. 2016 - 16, "Income Taxes (Topic 740 ): Intra-Entity Transfers of Assets Other Than Inventory," which is intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This update removes the current exception in GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. The amendments in this update are effective for public entities for annual reporting periods beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2016 - 16 is not expected to have a material impact on the Company’s consolidated financial statements. . In January 2017, the FASB issued ASU No. 2017 - 01, "Business Combinations (Topic 805 ) - Clarifying the Definition of a Business," with the objective to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets versus businesses. The amendments in ASU 2017 - 01 provide a screen to determine when a set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen is expected to reduce the number of transactions that need to be further evaluated. If the screen is not met, the amendments in ASU 2017 - 01 (i) require that to be considered a business, a set of assets and liabilities acquired must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output; and (ii) remove the evaluation of whether a market participant could replace missing elements. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted for transactions for which the acquisition date occurs before the issuance date of ASU 2017 - 01, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The adoption of ASU No. 2017 - 01 is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017 - 04, "Intangibles-Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment." Under the new guidance, if a reporting unit's carrying value amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard eliminates the requirement to calculate goodwill impairment using Step 2, which calculates any impairment charge by comparing the implied fair value of goodwill with its carrying amount. The standard does not change the guidance on completing Step 1 of the goodwill impairment test. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2019 and should be applied prospectively for annual and any interim goodwill impairment tests. Early adoption is permitted for entities for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of the update on our consolidated financial statements.

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Note 3 - Business Acquisition (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Cash	$	509
Accounts receivable		273
Inventories		243
Other current assets		18
Deferred software development costs		2,520
Fixed assets		47
Intangibles		1,220
Goodwill		1,634
Deferred tax liability		(1,090	)
Accounts payable & current liabilities		(80	)
Purchase Price 1	$	5,294

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Note 4 - Stock-based Compensation (Tables)

12 Months Ended

Jun. 30, 2017

Share-based Compensation, Stock Options, Activity [Table Text Block]

	Shares On Option			Weighted Average Exercise Price		Shares Available For Grant
Balance, June 30, 2014		75,388					424,612
Options granted		35,208			13.97		(35,208	)
Options exercised		(30,718	)		8.82		-
Options canceled		(25,571	)				25,571
Balance, June 30, 2015		54,307					414,975
Options granted		52,836			9.37		(52,836	)
Options exercised		(15,523	)		9.57		-
Options canceled		(27,705	)				27,705
Balance, June 30, 2016		63,915					389,844
Options granted		55,766			7.88		(55,766	)
Options exercised		(10,893	)		8.34		-
Options canceled		(31,503	)				31,503
Balance, June 30, 2017		77,285					365,581

Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block]

Weighted average remaining life (years)		1.3
Weighted average fair value on grant date of options granted in:
2015	$	4.68
2016		3.34
2017		2.76

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Note 6 - Inventories (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Inventory, Current [Table Text Block]

	June 30, 2017			June 30, 2016
Raw materials and supplies	$	26,293		$	29,209
Goods in process and finished parts		16,419			16,459
Finished goods		41,591			39,449
		84,303			85,117
LIFO reserve		(26,206	)		(28,796	)
	$	58,097		$	56,321

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Note 7 - Goodwill and Intangibles (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Intangible Assets and Goodwill [Table Text Block]

	June 30, 2017							June 30, 2016
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Goodwill	$	4,668	$	-		$	4,668	$	3,034	$	-		$	3,034
Identifiable intangible assets		17,117		(7,249	)		9,868		12,115		(5,625	)		6,490

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	June 30, 2017			June 30, 2016
Non-compete agreements	$	600		$	600
Trademarks and trade names		2,070			1,480
Completed technology		2,358			2,358
Customer relationships		5,580			4,950
Software development		6,184			2,402
Other intangible assets		325			325
Total		17,117			12,115
Accumulated amortization		(7,249	)		(5,625	)
Total net balance	$	9,868		$	6,490

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Fiscal Year
2018	$	2,086
2019		2,008
2020		1,484
2021		1,081
2022		848
Thereafter		2,361

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Note 8 - Property, Plant and Equipment (Tables)

12 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Table Text Block]

	As of June 30, 2017
	Cost		Accumulated Depreciation			Net
Land	$	1,223	$	-		$	1,223
Buildings and building improvements		44,980		(29,641	)		15,339
Machinery and equipment		124,315		(101,532	)		22,783
Total	$	170,518	$	(131,173	)	$	39,345

	As of June 30, 201 6
	Cost		Accumulated Depreciation			Net
Land	$	1,314	$	-		$	1,314
Buildings and building improvements		45,486		(29,595	)		15,891
Machinery and equipment		126,882		(103,077	)		23,805
Total	$	173,682	$	(132,672	)	$	41,010

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Fiscal Year
2018	$	2,356
2019		2,052
2020		1,635
2021		1,623
2022		457
Thereafter		1,536
	$	9,659

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Note 10 - Other Income and Expense (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Other Nonoperating Income (Expense) [Table Text Block]

	201 7			201 6			201 5
Interest income	$	399			504		$	828
Interest expense		(674	)		(669	)		(713	)
Foreign currency gain (loss), net		(86	)		(59	)		705
Income (loss) from equity investment		(307	)		118			203
Brazil recovery of export taxes		-			-			232
Patent lawsuit settlement		(100	)		-			-
Sale of scrap material		71			95			93
Other income (expense), net		190			81			(9	)
	$	(507	)		70		$	1,339

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Note 11 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Components of Income Before Income Taxes [Table Text Block]

	2017			2016			2015
Domestic operations	$	(1,547	)	$	(17,541	)	$	8,118
Foreign operations		3,085			(2,834	)		1,824
	$	1,538		$	(20,375	)	$	9,942

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2017			2016			2015
Current:
Federal	$	(989	)	$	(317	)	$	1,744
Foreign		999			866			1,855
State		39			94			114
Deferred:
Federal		597			(6,092	)		670
Foreign		(85	)		47			(71	)
State		14			(843	)		386
	$	545		$	(6,245	)	$	4,698

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2017			2016			2015
Expected tax expense	$	523		$	(6,928	)	$	3,380
State taxes, net of federal effect		9			(740	)		378
Foreign taxes, net of federal credits		(210	)		278			235
Change in valuation allowance		(107	)		196			(51	)
Tax reserve adjustments		272			250			361
Return to provision and other adjustments		(17	)		(167	)		(332	)
Losses not benefited		123			885			701
Tax rate change applied to deferred tax balances		315			-			-
Canada Real Estate Gain Deduction		(337	)		-			-
Other permanent items		(24	)		(19	)		26
Actual tax expense (benefit)	$	547		$	(6,245	)	$	4,698

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2017			2016
Deferred tax assets (liabilities):
Inventories	$	1,753		$	2,888
Employee benefits (other than pension)		807			988
Book reserves		725			1,347
State NOL, various carryforward periods		786			975
Foreign NOL, various carryforward periods		452			1,738
Foreign tax credit carryforward, expiring 2018 – 2027		4,222			2,638
Pension benefits		16,074			19,573
Retiree medical benefits		2,679			2,790
Depreciation		134			99
Intangibles		(269	)		1,243
Federal research and development and AMT credit carryforward		545			-
Other		1,046			582
Total deferred tax assets		28,954			34,861
Valuation allowance		(2,922	)		(5,246	)
Net deferred tax asset	$	26,032		$	29,615

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

Balance at June 30, 2014	$	(11,209	)
Increase for tax positions taken during the current period		(405	)
Effect of exchange rate changes		440
Decrease relating to lapse of applicable statute of limitations		42
Balance at June 30, 2015		(11,132	)
Increase for tax positions taken during the current period		(184	)
Effect of exchange rate changes		82
Decrease relating to lapse of applicable statute of limitations		414
Balance at June 30, 2016		(10,820	)
Increase for tax positions taken during the current period		(813	)
Effect of exchange rate changes		38
Decrease relating to lapse of applicable statute of limitations		7
Balance at June 30, 2017	$	(11,588	)

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Note 12 - Employee Benefit and Retirement Plans (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Allocation of Plan Assets [Table Text Block]

	2017			2016
Asset category:
Cash equivalents		1	%		0	%
Fixed income		18	%		18	%
Equities		24	%		27	%
Mutual and pooled funds		57	%		55	%
		100	%		100	%

Schedule of Portfolio By Valuation Category [Table Text Block]

June 30, 2017
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	780	$	-	$	-	$	780		1	%
Fixed Income		-		21,128		-		21,128		18	%
Equities		26,580		1,709		-		28,289		24	%
Mutual & Pooled Funds		31,867		35,714		-		67,581		57	%
Total	$	59,227	$	58,551	$	-	$	117,778		100	%

June 30, 201 6
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	672	$	-	$	-	$	672		0	%
Fixed Income		-		20,342		-		20,342		18	%
Equities		28,639		2,435		-		31,074		27	%
Mutual & Pooled Funds		30,057		30,060		2,810		62,927		55	%
Total	$	59,368	$	52,837	$	2,810	$	115,015		100	%

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	2017			2016

Beginning balance	$	2,810		$	4,084
Actual returns on assets		-			(718	)
Translation gain (loss)		-			(556	)
Transferred out of Level 3		(2,810	)		-

Ending balance	$	-		$	2,810

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	175,233		$	166,189		$	161,062
Service cost		1,405			2,757			2,663
Interest cost		6,246			7,032			6,818
Plan curtailment		(4,170	)		-			-
Exchange rate changes		(909	)		(7,825	)		(4,167	)
Benefits paid		(6,902	)		(6,590	)		(6,524	)
Actuarial (gain) loss		(1,207	)		13,670			6,337
Benefit obligation at end of year	$	169,696		$	175,233		$	166,189

Change in plan assets
Fair value of plan assets at beginning of year		115,015			122,787			122,924
Actual return on plan assets		5,302			226			3,466
Employer contributions		5,000			4,482			6,049
Benefits paid		(6,902	)		(6,590	)		(6,524	)
Exchange rate changes		(637	)		(5,890	)		(3,128	)
Fair value of plan assets at end of year		117,778			115,015			122,787
Funded status at end of year	$	(51,918	)	$	(60,218	)	$	(43,402	)
Amounts recognized in balance sheet
Current liability	$	(63	)	$	(45	)	$	(37	)
Noncurrent liability		(51,855	)		(60,173	)		(43,365	)
Net amount recognized in balance sheet	$	(51,918	)	$	(60,218	)	$	(43,402	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(12,131	)		(17,849	)		(16,795	)
Amounts not yet recognized as a component of net periodic benefit cost		(12,131	)		(17,849	)		(16,795	)
Accumulated net periodic benefit cost in excess of contributions		(39,787	)		(42,369	)		(26,607	)
Net amount recognized	$	(51,918	)	$	(60,218	)	$	(43,402	)

Components of net periodic benefit cost
Service cost	$	1,405		$	2,757		$	2,663
Interest cost		6,246			7,032			6,818
Expected return on plan assets		(5,173	)		(6,268	)		(6,966	)
Recognized actuarial loss		107			17,878			1,309
Net periodic benefit cost	$	2,585		$	21,399		$	3,824

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(26	)		(114	)		(53	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	169,696		$	175,233		$	166,189
Accumulated benefit obligation		169,696			168,119			159,174
Fair value of assets		117,779			115,015			122,787

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	130,863		$	116,398		$	110,054
Service cost		1,405			2,757			2,663
Interest cost		4,994			5,248			4,839
Plan curtailment		(4,170	)		-			-
Benefits paid		(5,106	)		(4,593	)		(4,372	)
Actuarial loss		(3,848	)		11,053			3,214
Benefit obligation at end of year	$	124,138		$	130,863		$	116,398

Weighted average assumptions – benefit obligation
Discount rate		3.92	%		3.77	%		4.49	%
Rate of compensation increase	Varies			Varies			Varies

Change in plan assets
Fair value of plan assets at beginning of year	$	81,910		$	84,853		$	84,629
Actual return on plan assets		1,079			(1,730	)		(274	)
Employer contributions		4,045			3,380			4,870
Benefits paid		(5,106	)		(4,593	)		(4,372	)
Fair value of plan assets at end of year		81,928			81,910			84,853
Funded status at end of year	$	(42,210	)	$	(48,953	)	$	(31,545	)

Amounts recognized in balance sheet
Current liability	$	(63	)	$	(45	)	$	(37	)
Noncurrent liability		(42,147	)		(48,908	)		(31,508	)
Net amount recognized in balance sheet	$	(42,210	)	$	(48,953	)	$	(31,545	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.77	%		4.49	%		4.29	%
Rate of compensation increase	Varies			Varies			Varies
Return on plan assets		5.00	%		5.50	%		6.00	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(8,254	)		(13,412	)		(11,817	)
Amounts not yet recognized as a component of net periodic benefit cost		(8,254	)		(13,412	)		(11,817	)
Accumulated contributions less than net periodic benefit cost		(33,956	)		(35,541	)		(19,728	)
Net amount recognized	$	(42,210	)	$	(48,953	)	$	(31,545	)

Components of net periodic benefit cost
Service cost	$	1,405		$	2,757		$	2,663
Interest cost		4,994			5,248			4,839
Expected return on plan assets		(4,046	)		(4,589	)		(5,063	)
Recognized actuarial loss		107			15,779			319
Net periodic benefit cost	$	2,460		$	19,195		$	2,758

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(26	)		(114	)		(53	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	124,138		$	130,863		$	116,398
Accumulated benefit obligation		124,138			123,749			109,383
Fair value of assets		81,928			81,910			84,853

	2017			2016			2015
Change in benefit obligation
Benefit obligation at beginning of year	$	44,370		$	49,791		$	51,008
Interest cost		1,252			1,784			1,979
Exchange rate changes		(909	)		(7,825	)		(4,167	)
Benefits paid		(1,796	)		(1,997	)		(2,152	)
Actuarial loss		2,641			2,617			3,123
Benefit obligation at end of year	$	45,558		$	44,370		$	49,791

Weighted average assumptions - benefit obligation
Discount rate		2.73	%		3.00	%		3.90	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	33,105		$	37,934		$	38,295
Actual return on plan assets		4,223			1,956			3,740
Employer contributions		954			1,102			1,179
Benefits paid		(1,796	)		(1,997	)		(2,152	)
Exchange rate changes		(636	)		(5,890	)		(3,128	)
Fair value of plan assets at end of year		35,850			33,105			37,934
Funded status at end of year	$	(9,708	)	$	(11,265	)		(11,857	)
Amounts recognized in balance sheet
Current liability	$	—		$	—		$	—
Noncurrent liability		(9,708	)		(11,265	)		(11,857	)
Net amount recognized in balance sheet	$	(9,708	)	$	(11,265	)	$	(11,857	)

Weighted average assumptions – net periodic benefit cost

Discount rate		3.00	%		3.90	%		4.30	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		3.59	%		4.77	%		5.45	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	—		$	—		$	—
Accumulated loss		(3,877	)		(4,437	)		(4,978	)
Amounts not yet recognized as a component of net periodic benefit cost		(3,877	)		(4,437	)		(4,978	)
Accumulated net periodic benefit cost in excess of contributions		(5,831	)		(6,828	)		(6,879	)
Net amount recognized	$	(9,708	)	$	(11,265	)	$	(11,857	)

Components of net periodic benefit cost
Service cost	$	—		$	—		$	—
Interest cost		1,252			1,784			1,979
Expected return on plan assets		(1,127	)		(1,679	)		(1,903	)
Amortization of net loss		—			2,099			990
Net periodic benefit cost	$	125		$	2,204		$	1,066

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year	$	—		$	—		$	—

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	45,558		$	44,370		$	49,791
Accumulated benefit obligation		45,558			44,370			49,791
Fair value of assets		35,851			33,104			37,934

Schedule of Medical and Life Insurance Benefits [Table Text Block]

	2017			2016			2015
Change in benefit obligation:
Benefit obligation at beginning of year	$	7,381		$	6,611		$	5,867
Service cost		85			105			113
Interest cost		269			287			244
Benefits paid		(483	)		(772	)		(647	)
Actuarial (gain) loss		(166	)		1,150			1,034
Benefit obligation at end of year	$	7,086		$	7,381		$	6,611

Weighted average assumptions: benefit obligations
Discount rate		3.92	%		3.77	%		4.49	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Change in plan assets
Fair value of plan assets at beginning of year	$	—		$	—		$	—
Employer contributions		483			772			647
Benefits paid, net of employee contributions		(483	)		(772	)		(647	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(370	)	$	(396	)	$	(441	)
Non-current postretirement benefit obligation		(6,716	)		(6,985	)		(6,170	)
Net amount recognized in balance sheet	$	(7,086	)	$	(7,381	)	$	(6,611	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.77	%		4.49	%		4.29	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service credit	$	3,851		$	4,523		$	5,305
Accumulated gain (loss)		(1,696	)		(1,983	)		(850	)
Amounts not yet recognized as a component of net periodic benefit cost		2,155			2,540			4,455
Net periodic benefit cost in excess of accumulated contributions		(9,241	)		(9,921	)		(11,066	)
Net amount recognized	$	(7,086	)	$	(7,381	)	$	(6,611	)

Components of net periodic benefit cost
Service cost	$	85		$	105		$	113
Interest cost		269			287			244
Amortization of prior service credit		(673	)		(781	)		(799	)
Amortization of accumulated loss		121			15			—
Net periodic benefit cost	$	(198	)	$	(374	)	$	(442	)


Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	673		$	781
Net loss		(99	)		(120	)		(15	)
	$	438		$	553		$	766


Healthcare cost trend rate assumed for next year		6.60	%		6.90	%		8.00	%
Rate to which the cost trend rate gradually declines		4.50	%		4.50	%		4.50	%
Year that the rate reaches the rate at which it is assumed to remain	2037			2037			2028

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

	1% Increase
	2017		2016		2015
Effect on total of service and interest cost	$	-	$	-	$	-
Effect on postretirement benefit obligation		2		2		4

	1% Decrease
	2017			2016			2015
Effect on total of service and interest cost	$	-		$	-		$	-
Effect on postretirement benefit obligation		(2	)		(2	)		(4	)

Schedule of Expected Benefit Payments [Table Text Block]

Fiscal Year	Pension		Other Benefits
2018	$	6,874	$	370
2019		7,132		362
2020		7,368		367
2021		7,611		373
2022		7,986		381
2023-2027		43,702		1,937

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Note 13 - Debt (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Debt [Table Text Block]

	June 30, 2017		June 30, 2016
Short-term and current maturities
Loan and Security Agreement	$	11,514	$	1,543

Long-term debt
Loan and Security Agreement, net of current portion	$	6,095	$	17,109

Total debt	$	17,609	$	18,652

Schedule of Maturities of Long-term Debt [Table Text Block]

Fiscal Year
2018	$	11,514
2019		1,688
2020		1,765
2021		1,846
2022		796
Thereafter		-
Total	$	17,609

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Note 17 - Financial Information by Segment and Geographic Area (Tables)

12 Months Ended

Jun. 30, 2017

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Year Ended June 30, 2017
	North America			International			Unallocated			Total
Sales 1	$	124,606		$	82,417		$	-		$	207,023
Restructuring charges		(82	)		(906	)		-			(988	)
Operating income		6,138			268			(7,450	)		(1,044	)
Capital expenditures and software development		2,765			3,071			-			5,836
Depreciation and amortization		4,551			2,475			-			7,026
Current assets 4		33,555			61,961			14,607			110,123
Long-lived assets 5		39,199			14,684			28,659			82,542

	Year Ended June 30, 2016
	North America			International			Unallocated			Total
Sales 2	$	130,108		$	79,577		$	-		$	209,685
Asset impairment		(4,114	)		-			-			(4,114	)
Operating income		(8,311	)		(3,117	)		(9,017	)		(20,445	)
Capital expenditures and software development		5,040			3,200			-			8,240
Depreciation and amortization		4,537			2,677			-			7,214
Current assets 4		33,787			62,810			24,314			120,911
Long-lived assets 5		36,539			13,995			30,153			80,687

	Year Ended June 30, 201 5
	North America		International		Unallocated			Total
Sales 3	$	137,085	$	104,465	$	-		$	241,550
Operating income		13,353		1,333		(6,083	)		8,603
Capital expenditures and software development		3,449		2,251		-			5,700
Depreciation and amortization		5,604		3,113		-			8,717
Current assets 4		41,240		68,656		23,517			133,413
Long-lived assets 5		40,506		14,066		24,287			78,859

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	Year Ended June 30,
North America	2017		2016		2015
United States	$	115,562	$	119,638	$	125,534
Canada & Mexico		9,044		10,470		11,551
		124,606		130,108		137,085
International
Brazil		45,614		43,283		63,961
United Kingdom		24,954		24,485		26,691
China		6,873		7,207		8,357
Australia & New Zealand		4,976		4,602		5,456
		82,417		79,577		104,465
Total Sales	$	207,023	$	209,685	$	241,550

	Year Ended June 30,
North America	2017		2016		2015
United States	$	39,131	$	36,189	$	40,146
Canada & Mexico		68		350		360
		39,199		36,539		40,506
International
Brazil		10,111		8,818		7,986
United Kingdom		1,976		2,143		2,647
China		2,426		2,887		3,291
Australia & New Zealand		171		147		142
		14,684		13,995		14,066

Total Long Lived Assets	$	53,883	$	50,534	$	54,572

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Note 18 - Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2017

Quarterly Financial Information [Table Text Block]

Quarter Ended	Net Sales		Gross Margin		Earnings Before Income Taxes			Net Earnings / (Loss)			Basic and Diluted Earnings / (Loss) Per Share
September 2015	$	51,038	$	15,852	$	482		$	(178	)	$	(0.03	)
December 2015		53,671		15,999		992			458			0.07
March 2016		50,329		14,733		1,199			597			0.09
June 2016		54,647		404		(23,048	)		(15,007	)		(2.14	)
	$	209,685	$	46,988	$	(20,375	)	$	(14,130	)	$	(2.01	)
September 2016	$	48,913	$	13,914	$	1,476		$	759		$	0.11
December 2016		53,187		16,822		1,517			1,063			0.15
March 2017		50,670		14,479		(1,244	)		(786	)		(0.11	)
June 2017		54,253		16,735		(211	)		(45	)		(0.01	)
	$	207,023	$	61,950	$	1,538		$	991		$	0.14

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Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Jun. 30, 2017

Allowance for Credit Losses on Financing Receivables [Table Text Block]

(in 000)	Balance at Beginning of Period		Provisions		Charges to Other Accounts			Write-offs			Balance at End of Period

Allowance for Doubtful Accounts:
Year Ended June 30, 2017	$	887	$	284	$	(23	)	$	(202	)	$	946
Year Ended June 30, 2016		612		352		(2	)		(75	)		887
Year Ended June 30, 2015		704		179		(163	)		(108	)		612

(in 000)	Balance at Beginning of Period		Provisions		Charges to Other Accounts			Write-offs			Balance at End of Period


Year Ended June 30, 2017	$	5,246	$	117	$	1		$	(2,442	)	$	2,922
Year Ended June 30, 2016		4,501		1,193		(344	)		(104	)		5,246
Year Ended June 30, 2015		3,334		1,242		(24	)		(51	)		4,501

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Note 2 - Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Derivative Asset	$ 1,400,000	$ 900,000
Provision for Doubtful Accounts	300,000	300,000	$ 200,000
Construction in Progress, Gross	1,600,000	2,900,000
Impairment of Long-Lived Assets Held-for-use		4,114,000
Advertising Expense	5,200,000	5,000,000	5,700,000
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax	200,000	17,800,000	1,300,000
Undistributed Earnings of Foreign Subsidiaries	65,000,000
Research and Development Expense	$ 1,900,000	$ 1,800,000	$ 1,700,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	32,674	32,833	40,214
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life	8 years
Software Developement [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Patents [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Minimum [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life	14 years
Minimum [Member] \| Completed Technology [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	8 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Maximum [Member] \| Patents [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Maximum [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] \| Completed Technology [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Maximum [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	16 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	10 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	50 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	12 years

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Note 3 - Business Acquisition (Details Textual) - Private Software Company [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2010
Business Combination, Consideration Transferred	$ 3.6	$ 1.5
Business Acquisition, Percentage of Voting Interests Acquired	64.00%	36.00%
Payments to Acquire Businesses, Gross	$ 1.8
Business Combination, Consideration Transferred, Liabilities Incurred	$ 1.8
Business Combination, Consideration Transferred, Subsequent Period	3 years
Business Combination, Consideration Transferred, Liabilities Incurred, Discounted	$ 1.6
Business Combination, Operating Profits, Percentage	30.00%
Business Combination, Operating Profits, Term	3 years

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Note 3 - Business Acquisition - Allocation of the Purchase Price to the Acquired Net Assets (Details) - USD ($)
$ in Thousands

Jun. 30, 2017

Feb. 02, 2017

Jun. 30, 2016

$ 509

273

243

Deferred software development costs

2,520

Fixed assets

Intangibles

1,220

Goodwill

$ 4,668

1,634

$ 3,034

Deferred tax liability

(1,090)

Accounts payable & current liabilities

(80)

Purchase Price1

^[1]

$ 5,294

[1]	$1,833 + 1,555 ($1.8 million discounted at 5%) = $3,388 purchase price divided by 64% = $5.294 million.

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Note 4 - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	500,000
The 2012 Stock Incentive Plan [Member]
Allocated Share-based Compensation Expense	$ 223,000	$ 214,000	$ 146,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	77,285	63,915	54,307	75,388
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	346,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,766	52,836	35,208
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	31,503	27,705	25,571
The 2012 Stock Incentive Plan [Member] \| Total Unrecognized Compensation Including Portion Relating to Grants Not Expected to Be Awarded [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1,300,000
Employee Stock Purchase Plan ESPP [Member]
Allocated Share-based Compensation Expense	0.15	$ 0.14	$ 0.14
The 2013 ESOP [Member]
Allocated Share-based Compensation Expense	$ 0	$ 0	$ 0
Employee Stock Option [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	0
Employee Stock Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	40.78%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	43.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.81%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.27%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	0
Restricted Stock Units (RSUs) [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	45,000	40,200	39,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 10.86	$ 15.11	$ 17.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	12,732	9,067
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 900,000	$ 900,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	105,634
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,100,000
Maximum [Member] \| Employee Stock Option [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Maximum [Member] \| Employee Stock Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	4.42%
Maximum [Member] \| Restricted Stock Units (RSUs) [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Minimum [Member] \| Employee Stock Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	4.11%
Minimum [Member] \| Restricted Stock Units (RSUs) [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year

XML 60 R47.htm IDEA: XBRL DOCUMENT

Note 4 - Summary of Stock Option Activity (Details) - The 2012 Stock Incentive Plan [Member] - $ / shares	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Balance (in shares)	63,915	54,307	75,388
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,766	52,836	35,208
Options granted (in dollars per share)	$ 7.88	$ 9.37	$ 13.97
Shares Available for Grant (in shares)	(55,766)	(52,836)	(35,208)
Options exercised (in shares)	(10,893)	(15,523)	(30,718)
Options exercised (in dollars per share)	$ 8.34	$ 9.57	$ 8.82
Options canceled (in shares)	(31,503)	(27,705)	(25,571)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	31,503	27,705	25,571
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	63,915	54,307	75,388
Balance (in shares)	77,285	63,915	54,307
Shares Available for Grant (in shares)	346,600
Shares Available For Grant [Member]
Shares Available for Grant (in shares)	389,844	414,975	424,612
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,766	52,836	35,208
Shares Available for Grant (in shares)	(55,766)	(52,836)	(35,208)
Options canceled (in shares)	(31,503)	(27,705)	(25,571)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	31,503	27,705	25,571
Shares Available for Grant (in shares)	365,581	389,844	414,975

XML 61 R48.htm IDEA: XBRL DOCUMENT

Note 4 - Stock Options Outstanding Weighted Average Fair Value (Details) - Employee Stock Purchase Plan ESPP [Member] - $ / shares	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Weighted average remaining life (years) (Year)	1 year 109 days
2015 (in dollars per share)	$ 2.76	$ 3.34	$ 4.68

XML 62 R49.htm IDEA: XBRL DOCUMENT

Note 5 - Cash and Short-term Investments (Details Textual) £ in Millions, BRL in Millions, $ in Millions	Jun. 30, 2017 USD ($)	Jun. 30, 2017 GBP (£)	Jun. 30, 2017 BRL	Jun. 30, 2016 USD ($)
Cash, Cash Equivalents, and Short-term Investments	$ 9.0	£ 4.2	BRL 2	$ 10.2

XML 63 R50.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
LIFO Inventory Amount	$ 7.7	$ 10.5
Inventory Difference Using FIFO Basis	26.2	28.8
Cost of Sales [Member]
Inventory, LIFO Reserve, Effect on Income, Net	$ (2.6)	$ 0.8

XML 64 R51.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Raw materials and supplies	$ 26,293	$ 29,209
Goods in process and finished parts	16,419	16,459
Finished goods	41,591	39,449
	84,303	85,117
LIFO reserve	(26,206)	(28,796)
	$ 58,097	$ 56,321

XML 65 R52.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Feb. 02, 2017	Jun. 30, 2016
Goodwill	$ 4,668		$ 3,034
Goodwill	4,668	$ 1,634	3,034
Identifiable intangible assets	17,117		12,115
Accumulated Amortization	(7,249)		(5,625)
Identifiable intangible assets	$ 9,868		$ 6,490

XML 66 R53.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangibles - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Intangible assets, gross	$ 17,117	$ 12,115
Accumulated amortization	(7,249)	(5,625)
Total net balance	9,868	6,490
Noncompete Agreements [Member]
Intangible assets, gross	600	600
Trademarks and Trade Names [Member]
Intangible assets, gross	2,070	1,480
Completed Technology [Member]
Intangible assets, gross	2,358	2,358
Customer Relationships [Member]
Intangible assets, gross	5,580	4,950
Software Developement [Member]
Intangible assets, gross	6,184	2,402
Other Intangible Assets [Member]
Intangible assets, gross	$ 325	$ 325

XML 67 R54.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details) $ in Thousands	Jun. 30, 2017 USD ($)
2018	$ 2,086
2019	2,008
2020	1,484
2021	1,081
2022	848
Thereafter	$ 2,361

XML 68 R55.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Capital Leased Assets, Gross	$ 0	$ 0
Operating Leases, Rent Expense, Net	$ 2,300	$ 2,300	$ 2,200

XML 69 R56.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Cost	$ 170,518	$ 173,682
Accumulated Depreciation	(131,173)	(132,672)
Net	39,345	41,010
Land [Member]
Cost	1,223	1,314
Accumulated Depreciation
Net	1,223	1,314
Building and Building Improvements [Member]
Cost	44,980	45,486
Accumulated Depreciation	(29,641)	(29,595)
Net	15,339	15,891
Machinery and Equipment [Member]
Cost	124,315	126,882
Accumulated Depreciation	(101,532)	(103,077)
Net	$ 22,783	$ 23,805

XML 70 R57.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equipment - Future Commitments Under Operating Leases (Details) $ in Thousands	Jun. 30, 2017 USD ($)
2018	$ 2,356
2019	2,052
2020	1,635
2021	1,623
2022	457
Thereafter	1,536
	$ 9,659

XML 71 R58.htm IDEA: XBRL DOCUMENT

Note 9 - Impairment of Assets and Restructuring Costs (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Impairment of Long-Lived Assets Held-for-use		$ 4,114,000
Restructuring Charges	$ 988,000

XML 72 R59.htm IDEA: XBRL DOCUMENT

Note 10 - Other Income and Expense - Summary of Other Income and Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Interest income	$ 399	$ 504	$ 828
Interest expense	(674)	(669)	(713)
Foreign currency gain (loss), net	(86)	(59)	705
Income (loss) from equity investment	(307)	118	203
Brazil recovery of export taxes			232
Patent lawsuit settlement	(100)
Sale of scrap material	71	95	93
Other income (expense), net	190	81	(9)
	$ (507)	$ 70	$ 1,339

XML 73 R60.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes (Details Textual) - USD ($)	3 Months Ended								12 Months Ended
Note 11 - Income Taxes (Details Textual) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Effective Income Tax Rate Reconciliation, Percent										30.70%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ (211,000)	$ (1,244,000)	$ 1,517,000	$ 1,476,000	$ (23,048,000)	$ 1,199,000	$ 992,000	$ 482,000	$ 1,538,000	$ (20,375,000)	$ 9,942,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount									315,000
Proceeds from Equity Method Investment, Distribution									2,000,000		$ 2,300,000
Deferred Tax Assets, Gross	26,000,000								26,000,000
Deferred Tax Assets, Net of Valuation Allowance	22,900,000								22,900,000
Deferred Tax Assets, Valuation Allowance	2,922,000				5,246,000				2,922,000	5,246,000
Increase (Decrease) in Obligation, Pension Benefits										19,000,000
Income Taxes Receivable, Noncurrent	2,627,000				$ 2,655,000				2,627,000	2,655,000
Decrease in Unrecognized Tax Benefits is Reasonably Possible	200,000								200,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount, Expiration of Statute of Limitations										100,000
Undistributed Earnings of Foreign Subsidiaries	65,000,000								65,000,000
Foreign Tax Authority [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount									2,300,000	$ 700,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	4,200,000								4,200,000
State and Local Jurisdiction [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	800,000								800,000
Domestic Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$ 500,000								$ 500,000
Her Majesty's Revenue and Customs (HMRC) [Member]
Effective Income Tax Rate Reconciliation, Percent									17.00%	20.00%

XML 74 R61.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Components of Earnings (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ (211)	$ (1,244)	$ 1,517	$ 1,476	$ (23,048)	$ 1,199	$ 992	$ 482	$ 1,538	$ (20,375)	$ 9,942
Domestic Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									(1,547)	(17,541)	8,118
Foreign Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									$ 3,085	$ (2,834)	$ 1,824

XML 75 R62.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Provision (Benefit) For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Current:
Federal	$ (989)	$ (317)	$ 1,744
Foreign	999	866	1,855
State	39	94	114
Deferred:
Federal	597	(6,092)	670
Foreign	(85)	47	(71)
State	14	(843)	386
	$ 545	$ (6,245)	$ 4,698

XML 76 R63.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Reconciliation of Expected Tax Expense (Benefit) to Actual Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Expected tax expense	$ 523	$ (6,928)	$ 3,380
State taxes, net of federal effect	9	(740)	378
Foreign taxes, net of federal credits	(210)	278	235
Change in valuation allowance	(107)	196	(51)
Tax reserve adjustments	272	250	361
Return to provision and other adjustments	(17)	(167)	(332)
Losses not benefited	123	885	701
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	315
Canada Real Estate Gain Deduction	(337)
Other permanent items	(24)	(19)	26
Actual tax expense (benefit)	$ 545	$ (6,245)	$ 4,698

XML 77 R64.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Deferred tax assets (liabilities):
Inventories	$ 1,753	$ 2,888
Employee benefits (other than pension)	807	988
Book reserves	725	1,347
State NOL, various carryforward periods	786	975
Foreign NOL, various carryforward periods	452	1,738
Foreign tax credit carryforward, expiring 2018 – 2027	4,222	2,638
Pension benefits	16,074	19,573
Retiree medical benefits	2,679	2,790
Depreciation	134	99
Intangibles	(269)	1,243
Federal research and development and AMT credit carryforward	545
Other	1,046	582
Total deferred tax assets	28,954	34,861
Valuation allowance	(2,922)	(5,246)
Net deferred tax asset	$ 26,032	$ 29,615

XML 78 R65.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Reconciliations of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Effect of exchange rate changes	$ 38	$ 82	$ 440
Decrease relating to lapse of applicable statute of limitations	7	414	42
Balance at June 30	(11,588)	(10,820)	(11,132)
Balance at June 30	(10,820)	(11,132)	(11,209)
Increase for tax positions taken during the current period	$ (813)	$ (184)	$ (405)

XML 79 R66.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2016
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment		$ (6,900,000)
Defined Contribution Plan, Employer Discretionary Contribution Amount		$ 1,300,000	$ 800,000	$ 800,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		4.31%			3.77%
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment		$ 4,170,000
Pension Cost (Reversal of Cost)		3,900,000	22,200,000	$ 4,600,000
Fair Value of the Company's Common Stock		6,900,000	$ 9,700,000
Post Retirement Medical and Life Insurance Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		$ 370,000
UNITED STATES
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		5.00%	5.50%	6.00%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		3.92%	3.77%	4.49%
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment		$ 4,170,000
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		3,300,000
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		$ 3,300,000
UNITED STATES \| Post Retirement Medical and Life Insurance Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		3.92%	3.77%	4.49%
UNITED KINGDOM
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		3.59%	4.77%	5.45%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		2.73%	3.00%	3.90%
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year			$ 1,000,000
UNITED KINGDOM \| Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		$ 1,000,000
Scenario, Forecast [Member] \| UNITED STATES
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	5.00%
Scenario, Forecast [Member] \| UNITED KINGDOM
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	3.00%
Maximum [Member]
Fixed Contribution Toward Medical Premium for Retirees 65 and Older			28.50
Maximum [Member] \| Equity Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		70.00%
Maximum [Member] \| Company Stock [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		20.00%
Maximum [Member] \| Cash and Debt Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		60.00%
Minimum [Member]
Fixed Contribution Toward Medical Premium for Retirees 65 and Older			$ 23
Minimum [Member] \| Equity Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		40.00%
Minimum [Member] \| Company Stock [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		10.00%
Minimum [Member] \| Cash and Debt Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		30.00%

XML 80 R67.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Actual Asset Allocation For The Assets Within The Company's Plans (Details)	Jun. 30, 2017	Jun. 30, 2016
Asset category:
Asset allocation	100.00%	100.00%
Cash and Cash Equivalents [Member]
Asset category:
Asset allocation	1.00%	0.00%
Fixed Income Securities [Member]
Asset category:
Asset allocation	18.00%	18.00%
Equity Securities [Member]
Asset category:
Asset allocation	24.00%	27.00%
Mutual and Pooled Funds [Member]
Asset category:
Asset allocation	57.00%	55.00%

XML 81 R68.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Portfolio by Valuation Category (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Asset Allocation	100.00%	100.00%
Fair Value	$ 117,778	$ 115,015
Fair Value, Inputs, Level 1 [Member]
Fair Value	59,227	59,368
Fair Value, Inputs, Level 2 [Member]
Fair Value	58,551	52,837
Fair Value, Inputs, Level 3 [Member]
Fair Value		$ 2,810	$ 4,084
Cash Equivalents [Member]
Asset Allocation	1.00%	0.00%
Fair Value	$ 780	$ 672
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	780	672
Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value
Cash Equivalents [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value
Fixed Income Securities [Member]
Asset Allocation	18.00%	18.00%
Fair Value	$ 21,128	$ 20,342
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	21,128	20,342
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value
Equity Securities [Member]
Asset Allocation	24.00%	27.00%
Fair Value	$ 28,289	$ 31,074
Equity Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	26,580	28,639
Equity Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	1,709	2,435
Equity Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value
Mutual and Pooled Funds [Member]
Asset Allocation	57.00%	55.00%
Fair Value	$ 67,581	$ 62,927
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	31,867	30,057
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	35,714	30,060
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value		$ 2,810

XML 82 R69.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Reconciliation of Level 3 Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Beginning balance	$ 115,015
Actual return on plan assets	5,302	$ 226	$ 3,466
Ending balance	117,778	115,015
Fair Value, Inputs, Level 3 [Member]
Beginning balance	2,810	4,084
Actual return on plan assets		(718)
Translation gain (loss)		(556)
Transferred out of Level 3	(2,810)
Ending balance		$ 2,810	$ 4,084

XML 83 R70.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Status of Defined Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2015
Employer contributions	$ 5,000	$ 4,482	$ 6,049
Benefits paid	(6,902)	(6,590)	(6,524)
Fair value of plan assets at end of year	115,015	115,015	122,787	$ 117,778		$ 115,015	$ 122,787
Benefits paid	(6,902)	(6,590)	(6,524)
Exchange rate changes	(637)	(5,890)	(3,128)
Fair value of plan assets at end of year	117,778	115,015	122,787
Funded status at end of year				(51,918)		(60,218)	(43,402)
Current liability				(63)		(45)	(37)
Noncurrent liability				(51,855)		(60,173)	(43,365)
Prior service cost
Accumulated loss				(12,131)		(17,849)	(16,795)
Amounts not yet recognized as a component of net periodic benefit cost				(12,131)		(17,849)	(16,795)
Accumulated net periodic benefit cost in excess of contributions				(39,787)		(42,369)	(26,607)
Net amount recognized in balance sheet				(51,918)		(60,218)	(43,402)
Expected return on plan assets	(5,173)	(6,268)	(6,966)
Recognized actuarial loss	107	17,878	1,309
Net periodic benefit cost	2,585	21,399	3,824
Prior service cost
Net loss				(26)		(114)	(53)
Projected benefit obligation				169,696		175,233	166,189
Accumulated benefit obligation				169,696		168,119	159,174
Fair value of assets				$ 117,779		115,015	122,787
Benefit obligation at beginning of year	175,233	166,189	161,062
Service cost	1,405	2,757	2,663
Interest cost	6,246	7,032	6,818
Plan curtailment	(4,170)
Exchange rate changes	(909)	(7,825)	(4,167)
Benefits paid	(6,902)	(6,590)	(6,524)
Actuarial (gain) loss	(1,207)	13,670	6,337
Benefit obligation at end of year	169,696	175,233	166,189
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				4.31%	3.77%
Fair value of plan assets at beginning of year	115,015	122,787	122,924
Actual return on plan assets	5,302	226	3,466
UNITED STATES
Employer contributions	4,045	3,380	4,870
Benefits paid	(5,106)	(4,593)	(4,372)
Fair value of plan assets at end of year	81,910	81,910	84,853	$ 81,928		81,910	84,853
Benefits paid	(5,106)	(4,593)	(4,372)
Fair value of plan assets at end of year	$ 81,928	$ 81,910	$ 84,853
Funded status at end of year				(42,210)		(48,953)	(31,545)
Current liability				(63)		(45)	(37)
Noncurrent liability				(42,147)		(48,908)	(31,508)
Discount rate	3.77%	4.49%	4.29%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	5.00%	5.50%	6.00%
Prior service cost
Accumulated loss				(8,254)		(13,412)	(11,817)
Amounts not yet recognized as a component of net periodic benefit cost				(8,254)		(13,412)	(11,817)
Accumulated net periodic benefit cost in excess of contributions				(33,956)		(35,541)	(19,728)
Net amount recognized in balance sheet				(42,210)		(48,953)	(31,545)
Expected return on plan assets	$ (4,046)	$ (4,589)	$ (5,063)
Recognized actuarial loss	107	15,779	319
Net periodic benefit cost	2,460	19,195	2,758
Prior service cost
Net loss				(26)		(114)	(53)
Projected benefit obligation				124,138		130,863	116,398
Accumulated benefit obligation				124,138		123,749	109,383
Fair value of assets				$ 81,928		$ 81,910	$ 84,853
Benefit obligation at beginning of year	130,863	116,398	110,054
Service cost	1,405	2,757	2,663
Interest cost	4,994	5,248	4,839
Plan curtailment	(4,170)
Benefits paid	(5,106)	(4,593)	(4,372)
Actuarial (gain) loss	(3,848)	11,053	3,214
Benefit obligation at end of year	124,138	130,863	116,398
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				3.92%		3.77%	4.49%
Fair value of plan assets at beginning of year	81,910	84,853	84,629
Actual return on plan assets	1,079	(1,730)	(274)
UNITED KINGDOM
Employer contributions	954	1,102	1,179
Benefits paid	(1,796)	(1,997)	(2,152)
Fair value of plan assets at end of year	33,105	33,105	37,934	$ 35,850		$ 33,105	$ 37,934
Benefits paid	(1,796)	(1,997)	(2,152)
Exchange rate changes	(636)	(5,890)	(3,128)
Fair value of plan assets at end of year	$ 35,850	$ 33,105	$ 37,934
Funded status at end of year				(9,708)		(11,265)	(11,857)
Noncurrent liability				(9,708)		(11,265)	(11,857)
Discount rate	3.00%	3.90%	4.30%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	3.59%	4.77%	5.45%
Prior service cost
Accumulated loss				(3,877)		(4,437)	(4,978)
Amounts not yet recognized as a component of net periodic benefit cost				(3,877)		(4,437)	(4,978)
Accumulated net periodic benefit cost in excess of contributions				(5,831)		(6,828)	(6,879)
Net amount recognized in balance sheet				(9,708)		(11,265)	(11,857)
Expected return on plan assets	(1,127)	(1,679)	(1,903)
Amortization of net loss		2,099	990
Net periodic benefit cost	125	2,204	1,066
Projected benefit obligation				45,558		44,370	49,791
Accumulated benefit obligation				45,558		44,370	49,791
Fair value of assets				$ 35,851		$ 33,104	$ 37,934
Benefit obligation at beginning of year	44,370	49,791	51,008
Service cost
Interest cost	1,252	1,784	1,979
Exchange rate changes	(909)	(7,825)	(4,167)
Benefits paid	(1,796)	(1,997)	(2,152)
Actuarial (gain) loss	2,641	2,617	3,123
Benefit obligation at end of year	45,558	44,370	49,791
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				2.73%		3.00%	3.90%
Fair value of plan assets at beginning of year	33,105	37,934	38,295
Actual return on plan assets	$ 4,223	$ 1,956	$ 3,740

XML 84 R71.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Status of the Postretirement Medical and Life Insurance Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2016
Benefit obligation at beginning of year	$ 175,233	$ 166,189	$ 161,062
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.31%			3.77%
Fair value of plan assets at beginning of year	$ 115,015	122,787	122,924
Employer contributions	5,000	4,482	6,049
Benefits paid	(6,902)	(6,590)	(6,524)
Fair value of plan assets at end of year	117,778	115,015	122,787
Current liability	(63)	(45)	(37)
Noncurrent liability	(51,855)	(60,173)	(43,365)
Prior service cost
Accumulated loss	(12,131)	(17,849)	(16,795)
Amounts not yet recognized as a component of net periodic benefit cost	(12,131)	(17,849)	(16,795)
Accumulated net periodic benefit cost in excess of contributions	(39,787)	(42,369)	(26,607)
Net amount recognized in balance sheet	(51,918)	(60,218)	(43,402)
Service cost	1,405	2,757	2,663
Interest cost	6,246	7,032	6,818
Benefits paid	(6,902)	(6,590)	(6,524)
Actuarial (gain) loss	(1,207)	13,670	6,337
Net periodic benefit cost	2,585	21,399	3,824
Prior service cost
Net loss	(26)	(114)	(53)
Benefit obligation at end of year	169,696	175,233	166,189
UNITED STATES
Benefit obligation at beginning of year	$ 130,863	$ 116,398	$ 110,054
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.92%	3.77%	4.49%
Fair value of plan assets at beginning of year	$ 81,910	$ 84,853	$ 84,629
Employer contributions	4,045	3,380	4,870
Benefits paid	(5,106)	(4,593)	(4,372)
Fair value of plan assets at end of year	81,928	81,910	84,853
Current liability	(63)	(45)	(37)
Noncurrent liability	$ (42,147)	$ (48,908)	$ (31,508)
Discount rate	3.77%	4.49%	4.29%
Prior service cost
Accumulated loss	(8,254)	(13,412)	(11,817)
Amounts not yet recognized as a component of net periodic benefit cost	(8,254)	(13,412)	(11,817)
Accumulated net periodic benefit cost in excess of contributions	(33,956)	(35,541)	(19,728)
Net amount recognized in balance sheet	(42,210)	(48,953)	(31,545)
Service cost	1,405	2,757	2,663
Interest cost	4,994	5,248	4,839
Benefits paid	(5,106)	(4,593)	(4,372)
Actuarial (gain) loss	(3,848)	11,053	3,214
Net periodic benefit cost	2,460	19,195	2,758
Prior service cost
Net loss	(26)	(114)	(53)
Benefit obligation at end of year	124,138	130,863	116,398
Post Retirement Medical and Life Insurance Plan [Member] \| UNITED STATES
Benefit obligation at beginning of year	$ 7,381	$ 6,611	$ 5,867
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.92%	3.77%	4.49%
Rate of compensation increase	2.64%	2.64%	2.64%
Fair value of plan assets at beginning of year
Employer contributions	483	772	647
Benefits paid	(483)	(772)	(647)
Fair value of plan assets at end of year
Current liability	(370)	(396)	(441)
Noncurrent liability	$ (6,716)	$ (6,985)	$ (6,170)
Discount rate	3.77%	4.49%	4.29%
Rate of compensation increase	2.64%	2.64%	2.64%
Prior service cost	$ 3,851	$ 4,523	$ 5,305
Accumulated loss	(1,696)	(1,983)	(850)
Amounts not yet recognized as a component of net periodic benefit cost	2,155	2,540	4,455
Accumulated net periodic benefit cost in excess of contributions	(9,241)	(9,921)	(11,066)
Net amount recognized in balance sheet	(7,086)	(7,381)	(6,611)
Service cost	85	105	113
Interest cost	269	287	244
Benefits paid	(483)	(772)	(647)
Actuarial (gain) loss	(166)	1,150	1,034
Prior service cost	(673)	(781)	(799)
Amortization of accumulated loss	121	15
Net periodic benefit cost	(198)	(374)	(442)
Prior service cost	537	673	781
Net loss	(99)	(120)	(15)
Benefit obligation at end of year	7,086	7,381	6,611
	$ 438	$ 553	$ 766
Healthcare cost trend rate assumed for next year	6.60%	6.90%	8.00%
Rate to which the cost trend rate gradually declines	4.50%	4.50%	4.50%
Year that the rate reaches the rate at which it is assumed to remain	2037	2037	2028

XML 85 R72.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefits and Retirement Plans - Effect of 1% Change in Assumed Health Care Cost Trend Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Effect on total of service and interest cost
Effect on postretirement benefit obligation	2	2	4
Effect on total of service and interest cost
Effect on postretirement benefit obligation	$ (2)	$ (2)	$ (4)

XML 86 R73.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Future Pension and Other Benefits Payments (Details) $ in Thousands	Jun. 30, 2017 USD ($)
Pension Plan [Member]
2018	$ 6,874
2019	7,132
2020	7,368
2021	7,611
2022	7,986
2023-2027	43,702
Other Benefits [Member]
2018	370
2019	362
2020	367
2021	373
2022	381
2023-2027	$ 1,937

XML 87 R74.htm IDEA: XBRL DOCUMENT

Note 13 - Debt (Details Textual)		12 Months Ended
Note 13 - Debt (Details Textual)	Nov. 22, 2011 USD ($)	Jun. 30, 2017 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity		$ 23,000,000
Line of Credit Facility, Interest Rate During Period		2.61%
Minimum Consolidated Cash and Liquid Investments Pursuant to New Loan and Security Agreement		$ 10,000,000
Line of Credit Facility, Commitment Fee Percentage		0.25%
Long-term Line of Credit		$ 9,900,000
Line of Credit Facility, Current Borrowing Capacity		22,100,000
Line of Credit Facility, Remaining Borrowing Capacity		12,200,000
Standby Letters of Credit [Member]
Long-term Line of Credit		900,000
Term Loan [Member]
Debt Instrument, Face Amount	$ 15,500,000
Debt Instrument, Term	10 years
Debt Instrument, Interest Rate, Stated Percentage	4.50%
Line of Credit Facility, Periodic Payment	$ 160,640
Long-term Line of Credit		$ 7,700,000
Maximum [Member]
Current Funded Debt to EBITDA Ratio		2.25
Annual Capital Expenditures		$ 15,000,000
Minimum [Member]
Debt Service Coverage Rate		1.25
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.50%

XML 88 R75.htm IDEA: XBRL DOCUMENT

Note 13 - Debt - Debt Schedule (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Short-term and current maturities
Loan and Security Agreement	$ 11,514	$ 1,543
Long-term debt
Loan and Security Agreement, net of current portion	6,095	17,109
Total debt	$ 17,609	$ 18,652

XML 89 R76.htm IDEA: XBRL DOCUMENT

Note 13 - Debt - Future Maturities of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
2018	$ 11,514
2019	1,688
2020	1,765
2021	1,846
2022	796
Thereafter
Total debt	$ 17,609	$ 18,652

XML 90 R77.htm IDEA: XBRL DOCUMENT

Note 17 - Financial Information by Segment and Geographic Area (Details Textual)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2017

USD ($)

Mar. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2016

USD ($)

Mar. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Sep. 30, 2015

USD ($)

Jun. 30, 2017

USD ($)

Jun. 30, 2016

USD ($)

Jun. 30, 2015

USD ($)

Number of Reportable Segments

North American Segment [Member]

$ 54,253

$ 50,670

$ 53,187

$ 48,913

$ 54,647

$ 50,329

$ 53,671

$ 51,038

$ 207,023

^[1]

$ 209,685

^[2]

$ 241,550

^[3]

North American Segment [Member] | Intersegment Eliminations [Member]

124,606

^[1]

130,108

^[2]

137,085

^[3]

International Segment [Member] | Intersegment Eliminations [Member]

7,902

8,259

12,276

$ 11,677

$ 9,282

$ 9,842

[1]	Excludes $7,902 of North American segment sales to the International segment and $11,677 sales of the International segment to the North American segment.
[2]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[3]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.

XML 91 R78.htm IDEA: XBRL DOCUMENT

Note 17 - Financial Information by Segment and Geographic Area - Summary of Financial Results for Reportable Segments (Details) - USD ($)

3 Months Ended

12 Months Ended

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2015

^[1]

$ 110,123,000

$ 120,911,000

$ 110,123,000

$ 120,911,000

$ 133,413,000

^[2]

82,542,000

80,687,000

82,542,000

80,687,000

78,859,000

54,253,000

$ 50,670,000

$ 53,187,000

$ 48,913,000

54,647,000

$ 50,329,000

$ 53,671,000

$ 51,038,000

207,023,000

^[3]

209,685,000

^[4]

241,550,000

^[5]

(988,000)

(4,114,000)

(1,044,000)

(20,445,000)

8,603,000

5,836,000

8,240,000

5,700,000

North American Segment [Member]

7,026,000

7,214,000

8,717,000

^[1]

33,555,000

33,787,000

33,555,000

33,787,000

41,240,000

^[2]

39,199,000

36,539,000

39,199,000

36,539,000

40,506,000

124,606,000

^[3]

130,108,000

^[4]

137,085,000

^[5]

(82,000)

(4,114,000)

6,138,000

(8,311,000)

13,353,000

2,765,000

5,040,000

3,449,000

4,551,000

4,537,000

5,604,000

International [Member]

82,417,000

^[3]

79,577,000

^[4]

104,465,000

^[5]

(906,000)

3,071,000

3,200,000

2,251,000

Unallocated [Member]

^[1]

14,607,000

24,314,000

14,607,000

24,314,000

23,517,000

^[2]

28,659,000

30,153,000

28,659,000

30,153,000

24,287,000

^[3]

^[4]

^[5]

(7,450,000)

(9,017,000)

(6,083,000)

International Segment [Member]

^[1]

61,961,000

62,810,000

61,961,000

62,810,000

68,656,000

^[2]

$ 14,684,000

$ 13,995,000

14,684,000

13,995,000

14,066,000

268,000

(3,117,000)

1,333,000

$ 2,475,000

$ 2,677,000

$ 3,113,000

[1]	Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets not allocated to the segments include cash and cash equivalents, deferred income taxes, and other non-current assets.
[2]	Long lived assets consist of property, plant and equipment, goodwill, and other intangible assets. Long term deferred and other tax assets are not allocated to the segments.
[3]	Excludes $7,902 of North American segment sales to the International segment and $11,677 sales of the International segment to the North American segment.
[4]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[5]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.

XML 92 R79.htm IDEA: XBRL DOCUMENT

Note 17 - Financial Information by Segment and Geographic Area - Geographic Sales and Long-Lived Assets (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2015

$ 54,253

$ 50,670

$ 53,187

$ 48,913

$ 54,647

$ 50,329

$ 53,671

$ 51,038

$ 207,023

^[1]

$ 209,685

^[2]

$ 241,550

^[3]

53,883

50,534

53,883

50,534

54,572

UNITED STATES

115,562

119,638

125,534

North America Other than US [Member]

39,131

36,189

39,131

36,189

40,146

9,044

10,470

11,551

350

360

North America [Member]

124,606

130,108

137,085

39,199

36,539

39,199

36,539

40,506

BRAZIL

45,614

43,283

63,961

10,111

8,818

10,111

8,818

7,986

UNITED KINGDOM

24,954

24,485

26,691

1,976

2,143

1,976

2,143

2,647

CHINA

6,873

7,207

8,357

Australia and New Zealand [Member]

2,426

2,887

2,426

2,887

3,291

4,976

4,602

5,456

171

147

171

147

142

International [Member]

82,417

79,577

104,465