scx20190630_10k.htm

Significant Accounting Policies [Text Block]

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 intercompany items have been eliminated in consolidation.

Financial instruments and derivatives

: The Company’s financial instruments include cash, accounts receivable and debt. The carrying value of cash and accounts receivable approximates fair value because of the short-term nature of these instruments. 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 amounts of contracts outstanding as of both

June 30, 2019

and

June 30, 2018

were zero.

Accounts receivable

: Accounts receivable consist of trade receivables from customers. The expense (income) for bad debts amounted to $(

0.1

$0.5,

and

$0.3

million in fiscal

2019,

2018

and

2017,

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. “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. 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

years, machinery and equipment

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

percent of the economic life of the leased property; present value of the future minimum lease payments equals or exceeds

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, when individual fixed assets are retired or disposed. The construction in progress balances in buildings, building improvements and machinery and equipment at

June 30, 2019

and

June 30, 2018

were

$1.9

million and

$1.2

million, respectively. Repairs and maintenance of equipment are expensed as incurred.

Intangible assets

: Identifiable intangibles are recorded at cost and are amortized on a straight-line basis over a

year period. The estimated useful lives of the intangible assets subject to amortization are:

years for patents,

years for trademarks and trade names,

years for completed technology,

years for non-compete agreements,

years for customer relationships and

years for software development.

Long-Lived Asset Impairment

: Impairment losses are recorded when indicators of impairment, such as plant closures, are present and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount. The Company continually reviews for such impairment and believes that long-lived assets are being carried at their appropriate value. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of such an asset

may

not

be recoverable.

events or circumstances arose in fiscal

2019

and

2018

which required management to perform an impairment analysis.

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 of

two

reporting units associated with the

November 2011

acquisition of Bytewise and the

February 2017

acquisition of a private software company. Bytewise is tested in

October

and the software reporting unit is tested in

February.

As of

October 1, 2018,

the Company performed a Step-Zero analysis of qualitative factors to determine whether the fair value of the Bytewise business is less than its carrying amount and as a basis for determining whether it was necessary to perform the

two

-step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that the fair value of the Bytewise goodwill exceeded its carrying amount, and that

goodwill impairment was determined to exist. As of

February 1, 2018,

the Company performed an analysis of quantitative factors to determine whether it was more likely than

not

that the fair value of the acquired software business exceeded its carrying amount. Based on the Company's analysis of quantitative factors, the Company determined that

impairment existed.

Revenue recognition

: On

July 1, 2018,

the Company adopted ASC Topic

606,

Revenue from Contracts with Customers, and all the related amendments (“ASC Topic

606”

), using the modified retrospective method. In addition, the Company elected to apply certain of the permitted practical expedients within the revenue recognition guidance and make certain accounting policy elections, including those related to significant financing components, sales taxes and shipping and handling activities. Most of the changes resulting from the adoption of ASC Topic

606

July 1, 2018

were changes in presentation within the Consolidated Balance Sheet. Therefore, while the Company made adjustments to certain opening balances on its

July 1, 2018

Consolidated Balance Sheet, the Company made

adjustment to opening Retained Earnings. The impact of the adoption of ASC Topic

606

has been immaterial to its net income on an ongoing basis; however, adoption did increase the level of disclosures concerning net sales. Results for reporting periods beginning

July 1, 2018

are presented under the new guidance, while prior period amounts continue to be reported in accordance with previous guidance without revision.

The core principle of ASC Topic

606

is that an entity recognizes revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The application of the FASB’s guidance on revenue recognition requires the Company to recognize as revenue the amount of consideration that the Company expects to receive in exchange for goods and services transferred to our customers. To do this, the Company applies the

five

-step model prescribed by the FASB, which requires us to: (

) identify the contract with the customer; (

) identify the performance obligations in the contract; (

) determine the transaction price; (

) allocate the transaction price to the performance obligations in the contract; and (

) recognize revenue when, or as, the Company satisfies a performance obligation.

performance obligation related amounts were deferred as of

June 30, 2019.

Purchase orders are of durations less than

one

year. As such, the Company applies the practical expedient in ASC paragraph

606

and does

not

disclose information about remaining performance obligations that have original expected durations of

one

year or less, for which work has

not

yet been performed.

Performance Obligations

June 30, 2019.

Contract terms with certain metrology equipment customers could result in products and services being transferred over time as a result of the customized nature of some of the Company’s products, together with contractual provisions in the customer contracts that provide the Company with an enforceable right to payment for performance completed to date; however, under typical terms, the Company does

not

have the right to consideration until the time of shipment from its manufacturing facilities or distribution centers, or until the time of delivery to its customers. If certain contracts in the future provide the Company with this enforceable right of payment, the timing of revenue recognition from products transferred to customers over time

may

be slightly accelerated compared to the Company’s right to consideration at the time of shipment or delivery.

not

significant. Amounts billed and due from the Company’s customers are classified as receivables on the Consolidated Balance Sheet. As the Company’s standard payment terms are usually less than

one

year, the Company has elected the practical expedient under ASC paragraph

606

not

assess whether a contract has a significant financing component.

not

differed materially from estimated amounts for each period presented. Amounts billed to customers for shipping and handling are included in net sales and costs associated with shipping and handling are included in cost of sales. The Company has concluded that its estimates of variable consideration are

not

constrained according to the definition within the new standard. Additionally, the Company applies the practical expedient in ASC paragraph

606

18B

and accounts for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment activity, rather than a separate performance obligation.

With the adoption of ASC Topic

606,

the Company reclassified certain amounts related to variable consideration. Under ASC Topic

606,

the Company is required to present a refund liability and a return asset within the Consolidated Balance Sheet, whereas in periods prior to adoption, the Company presented the estimated margin impact of expected returns as a contra-asset within accounts receivable. The changes in the refund liability are reported in net sales, and the changes in the return asset are reported in cost of sales in the Consolidated Statements of Operations. As a result, the balance sheet presentation was adjusted beginning in Fiscal

2019.

As of

June 30, 2019,

the balance of the return asset is

$0.1

million and the balance of the refund liability is

$0.2

million, and they are presented within prepaid expenses and other current assets and accrued expenses, respectively, on the Consolidated Balance Sheet.

The Company, in general, warrants its products against certain defects in material and workmanship when used as designed, for a period of up to

year. The Company does

not

sell extended warranties.

Contract Balances

Contract assets primarily relate to the Company’s rights to consideration for work completed but

not

billed at the reporting date on contracts with customers. Contract assets are transferred to receivables when the rights become unconditional. Contract liabilities primarily relate to contracts where advance payments or deposits have been received, but performance obligations have

not

yet been met, and therefore, revenue has

not

been recognized. The Company had

contract asset balances, but had contract liability balances of

$0.3

million at

June 30, 2019.

Allowance for doubtful accounts

: The allowance for doubtful accounts of

$0.7

million at the end of fiscal

2019

compared to

$1.3

million at the end of fiscal

2018

is based on our assessment of the collectability of specific customer accounts and the aging of our accounts receivable. While the Company believes that the allowance for doubtful accounts is adequate, if there is a deterioration of a major customer’s credit worthiness, actual write-offs are higher than our previous experience, or actual future returns do

not

reflect historical trends, the estimates of the recoverability of the amounts due the Company could be adversely affected.

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:

$5.0

million in fiscal

2019,

$5.1

million in fiscal

2018

and

$5.2

million in fiscal

2017

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.

December 21, 2016,

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

December 31, 2016.

Consequently, the Plan is closed to new participants and current participants

longer earn additional benefits after

December 31, 2016.

2019,

2018

and

2017

were

$0.3

million,

$0.1

million, and

$0.2

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

$67.9

million of undistributed earnings of foreign subsidiaries as of

June 30, 2019

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, after consideration of U.S. Tax Reform and the dividends received deduction. 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:

$3.7

million in fiscal

2019,

$3.6

million in fiscal

2018,

and

$3.5

million in fiscal

2017.

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

68,378,

23,771,

and

32,674,

of potentially dilutive common shares in fiscal

2019,

2018

and

2017,

respectively, resulting from shares issuable under its stock based compensation 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

Other Income and Expense.

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, goodwill, uncertain tax positions and pension obligations. Amounts ultimately realized could differ from those estimates.

Recently Adopted Accounting Standards:

The Company adopted ASU

No.

2017

07,

Compensation-Retirement Benefits (Topic

715

) in

FY19:

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (NPBC). This update requires that an employer disaggregate the service cost component from the other components of NPBC. In addition, only the service cost component will be eligible for capitalization. The amendments in this update are required to be applied retrospectively for the presentation of the service cost component and the other components of NPBC in the Consolidated Statement of Operations and prospectively, on and after the adoption date, for the capitalization of the service cost component of NPBC in assets. As required by the transition provisions of this update, the following table shows the impact of the adoption on the respective line items in the Consolidated Statement of Operations for

2019

and the reclassifications to the

2018

and

2017

fiscal year Consolidated Statement of Operations to retroactively apply classification of the service cost component and the other components of NPBC:

(Dollars in Thousands)	Increase (Decrease) to Net Income
	FY 2019			FY 2018			FY 2017
Cost of goods sold	$	710		$	582		$	649
Selling, general and administrative expense		220			212			248
Other income (expense) net		(930	)		(794	)		(897	)
	$	-		$	-		$	-

Recent

ly Issued

Accounting

Standards

not

yet

Adopted:

February 2016,

the FASB issued ASU

No.

2016

02,

“Leases (Topic

842

)”. The Company will adopt the new standard effective

July 1, 2019.

ASU

2016

sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or

not

the lease effectively finances a purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method (finance lease) or on a straight line basis over the term of the lease (operating lease). A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than

months regardless of their classification. Leases with a term of

months or less will be accounted for similar to existing guidance for operating leases. The ASU will affect the presentation of lease related expenses on the Consolidated Statement of Operations and Consolidated Statement of Cash Flows and will increase the required disclosures related to leases. In

July 2018,

the FASB issued ASU

No.

2018

and

No.

2018

11,

Leases (ASC

842

). ASU

2018

provides narrow amendments that clarify how to apply certain aspects of the guidance in ASU

2016

02.

ASU

2018

provides entities with an option of an additional transition method, by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption.

not

have a material impact on the Consolidated Statements of Operations. The Company has evaluated the effect of the impact of the adoption of this standard and has determined the adoption will result in the recognition of additional right of use assets and lease liabilities of approximately

$6.3

million for operating leases. The Company currently has

finance leases.

June 2016,

the FASB issued ASU

2016

13,

“Financial Instruments - Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments,” and subsequent amendment to the guidance, ASU

2018

November 2018.

The standard significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are

not

measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. The amendment will affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets

not

excluded from the scope that have the contractual right to receive cash. ASU

2018

clarifies that receivables arising from operating leases are accounted for using lease guidance and

not

as financial instruments. The amendments should be applied on either a prospective transition or modified-retrospective approach depending on the subtopic. This ASU is effective for annual periods beginning after

December 15, 2019,

and interim periods therein. Early adoption is permitted for annual periods beginning after

December 15, 2018,

and interim periods therein. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

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

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

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.

February 2018,

the FASB issued ASU

No.

2018

02,

“Income Statement – Reporting Comprehensive Income (Topic

220

): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”. For deferred tax items recognized in Accumulated Other Comprehensive Income (AOCI), changes in tax rates can leave amounts “stranded” in AOCI. Under ASU

2018

02,

FASB has given companies an option to reclassify the stranded tax effects resulting from the tax law and tax rate changes under the Tax Cuts and Jobs Act of

2017

from AOCI to retained earnings. This guidance is effective for fiscal years beginning after

December 15, 2018

and requires companies to disclose whether they are or are

not

opting to reclassify the income tax effects from the new

2017

tax act. The adoption of this standard is

not

expected to have a material impact on the Company’s financial position and results of operations upon adoption.

August 2018,

the FASB issued ASU

No.

2018

13,

"Fair Value Measurement ('Topic

820'

): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." The ASU modifies the disclosure requirements in Topic

820,

Fair Value Measurement, by removing certain disclosure requirements related to the fair value hierarchy, modifying existing disclosure requirements related to measurement uncertainty and adding new disclosure requirements, such as disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level

fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level

fair value measurements. This ASU is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after

December 15, 2019.

The Company is currently evaluating the effect, if any, that ASU

2018

will have on its consolidated financial statements.

August 2018,

the FASB issued ASU

No.

2018

14,

"Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic

715

): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." ASU

2018

removes certain disclosures that are

not

considered cost beneficial, clarifies certain required disclosures and added additional disclosures. This ASU is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after

December 15, 2020.

The amendments in ASU

2018

must be applied on a retrospective basis. The Company is currently assessing the effect, if any, that ASU

2018

will have on its consolidated financial statements.

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Note 3 - Business Acquisition

12 Months Ended

Jun. 30, 2019

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 an additional

64%

of equity in the company. 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
Intangible assets		1,220
Goodwill		1,634
Fixed assets		47
Deferred tax liability		(1,090	)
Accounts payable and current liabilities		(80	)
Purchase Price (1)	$	5,294

(

)

$1,833

1,555

(

$1.8

million discounted at

) =

$3,388

purchase price divided by

64%

$5.294

million.

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.

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Note 4 - Stock-based Compensation

12 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [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, 2019,

there were

20,000

stock options and

197,002

restricted stock units outstanding. In addition, there were

230,033

shares available for grant under the

2012

Stock Incentive Plan as of

June 30, 2019.

There were

stock options granted during fiscal years

2019,

2018

2017.

The weighted average contractual term for stock options outstanding as of

June 30, 2019

was

3.5

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

June 30, 2019

was less than

$0.1

million. There were

20,000

options exercisable as of

June 30, 2019.

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 the 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, 2019,

the Company granted

67,000

RSU awards with fair values of

$6.34

per RSU award, and there were

RSU’s forfeited. During the year ended

June 30, 2018,

the Company granted

62,000

RSU awards with fair values of

$7.22

per RSU award. During the year ended

June 30, 2017,

the Company granted

45,000

RSU awards with fair values of

$10.86

per RSU award.

There were

10,800

and

14,400

RSU awards settled in fiscal years

2019

and

2018

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

June 30, 2019

was

$1.3

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

June 30, 2018

was

$0.9

million. Compensation expense related to the

2012

Stock Incentive Plan was

$232,000,

$134,000

and

$223,000

for fiscal

2019,

2018

and

2017

respectively. As of

June 30, 2019,

there was

$1.7

million of total unrecognized compensation costs related to outstanding stock-based compensation arrangements. Of this cost,

$1.4

million relates to performance based RSU grants that are

not

expected to be awarded. The remaining

$0.3

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

1.5

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

2017.

additional options will be granted under the previous

2012

plan. A summary of option activity is as follows:

	Shares on Options			Weighted Average Exercise Price		Shares Available for Grant
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
2012 Plan Expired		-					(365,581	)
2017 Plan Authorized		-					500,000
Options granted		63,607			6.35		(63,607	)
Options exercised		(17,561	)		6.69		-
Options canceled		(52,816	)				13,614
Balance, June 30, 2018		70,515					450,007
Options granted		55,227			5.45		(55,227	)
Options exercised		(11,981	)		5.72		-
Options canceled		(26,628	)				18,087
Balance, June 30, 2019		87,133					412,867

The following information relates to outstanding options as of

June 30, 2019:

Weighted average remaining life (years)		1.3
Weighted average fair value on grant date of options granted in:
2017	$	2.76
2018		2.23
2019		2.28

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 –

40.69%

–

46.85%,

risk free interest rate –

2.18%

–

2.94%,

expected dividend yield -

1.73%

and expected lives -

years. Compensation expense of

$0.1

million,

$0.1

million and

$0.2

million has been recorded for fiscal

2019,

2018

and

2017,

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

2019,

2018

2017.

XML 27 R14.htm IDEA: XBRL DOCUMENT

Note 5 - Cash	12 Months Ended
Note 5 - Cash	Jun. 30, 2019
Notes to Financial Statements
Cash, Cash Equivalents, and Short-term Investments [Text Block]	5. CASH Cash held by foreign subsidiaries amounted to $8.9 million and $6.5 million at June 30, 2019 and June 30, 2018, respectively. Of the June 30, 2019 balance, $4.6 million in U.S. dollar equivalents was held in British Pounds Sterling and $2.6 million in U.S. dollar equivalents was held in Brazilian Reals. The Company plans to permanently reinvest cash held in foreign subsidiaries. Cash held in foreign subsidiaries is not available for use in the U.S. without the likely incurrence of U.S. federal and state income and withholding tax consequences.

XML 28 R15.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories

12 Months Ended

Jun. 30, 2019

Inventory Disclosure [Text Block]

. INVENTORIES

Inventories consist of the following (in thousands):

	June 30, 201 9			June 30, 201 8
Raw materials and supplies	$	26,106		$	23,764
Goods in process and finished parts		17,464			18,423
Finished goods		41,500			40,739
		85,070			82,926
LIFO reserve		(23,280	)		(24,887	)
	$	61,790		$	58,039

LIFO inventories were

$9.8

million and

$8.4

million at

June 30, 2019

and

June 30, 2018,

respectively, such amounts being approximately

$23.3

million and

$24.9

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

$1.6

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

2019

compared to a

$1.3

million decrease in fiscal

2018.

XML 29 R16.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND INTANGIBLES

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

	June 30, 201 9							June 30, 201 8
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Goodwill	$	4,668	$	-		$	4,668	$	4,668	$	-		$	4,668
Identifiable intangible assets		19,885		(11,425	)		8,460		18,533		(9,216	)		9,317

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

	June 30, 201 9			June 30, 201 8
Non-compete agreements	$	600		$	600
Trademarks and trade names		2,070			2,070
Completed technology		2,358			2,358
Customer relationships		5,580			5,580
Software development		8,952			7,600
Other intangible assets		325			325
Total		19,885			18,533
Accumulated amortization		(11,425	)		(9,216	)
Total net balance	$	8,460		$	9,317

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

$2.3

million,

$2.0

million and

$1.7

million for the year ended

June 30, 2019,

2018

and

2017,

respectively.

The estimated aggregate amortization expense for each of the next

five

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

Fiscal Year
2020	$	2,005
2021		1,602
2022		1,370
2023		1,016
2024		628
Thereafter		1,839
	$	8,460

Annually, or anytime when events suggest impairment

may

have occurred, the Company assesses the fair value of its goodwill to determine if the carrying amount of the goodwill is greater than the fair value. An impairment charge would be recognized to the extent the recorded goodwill exceeds the implied fair value of goodwill.

The Company performed a quantitative analysis for its

February 1, 2019

annual assessment of goodwill (commonly referred to as “Step One” evaluation) associated with its fiscal

2017

purchase of a private software company. The Company estimated the fair value using an income approach based on the present value of future cash flows. The Company believes this approach yields the most appropriate evidence of fair value.

Under the quantitative analysis, the fair value assessment of the goodwill of this reporting unit exceeded the carrying amount as of

February 1, 2019.

Therefore,

goodwill impairment was determined to exist. If future results significantly vary from current estimates and related projections, the Company

may

be required to record impairment charges.

The Company performed a qualitative analysis for its

October 1, 2018

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

not

that the fair value of a reporting unit exceeds its carrying amount, relevant events and circumstances are taken into account, with greater weight assigned to events and circumstances that most affect the fair value 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 and changes in management or key personnel. After assessing these and other factors the Company determined that it was more likely than

not

that the fair value of this reporting unit exceeded its carrying amount as of

October 1, 2018.

Therefore,

goodwill impairment was determined to exist. If future results significantly vary from current estimates and related projections, the Company

may

be required to record impairment charges.

XML 30 R17.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equity

12 Months Ended

Jun. 30, 2019

Property, Plant and Equipment Disclosure [Text Block]

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following as of

June 30, 2019

and

2018

(in thousands):

	As of June 30, 201 9
	Cost		Accumulated Depreciation			Net
Land	$	1,210	$	-		$	1,210
Buildings and building improvements		44,772		(30,427	)		14,345
Machinery and equipment		117,386		(96,262	)		21,124
Total	$	163,368	$	(126,689	)	$	36,679

	As of June 30, 201 8
	Cost		Accumulated Depreciation			Net
Land	$	1,210	$	-		$	1,210
Buildings and building improvements		44,540		(29,774	)		14,766
Machinery and equipment		117,573		(97,035	)		20,538
Total	$	163,323	$	(126,809	)	$	36,514

There are

capital leases as of

June 30, 2019

June 30, 2018.

Depreciation expense was

$5.0

million,

$5.5

million and

$5.4

million for the years ended

June 30, 2019,

2018

and

2017,

respectively.

Operating lease expense was

$2.4

million,

$2.3

million and

$2.3

million in fiscal

2019,

2018

and

2017,

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

Fiscal Year
2020	$	2,434
2021		2,328
2022		943
2023		762
2024		502
Thereafter		1,092
	$	8,061

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Note 9 - Facility Closure	12 Months Ended
Note 9 - Facility Closure	Jun. 30, 2019
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	9. FACILITY C LOSURE The Company decided in January 2018 to vacate its facility in Mt. Airy, North Carolina, and move current operations to a smaller building. While no definitive date for this move has been set yet, the Company anticipates that the move will happen within the next 24 months. The Company incurred a $4.1 million impairment charge in fiscal 2016, when the majority of the plant’s operations were relocated to the Company’s Brazilian production facility. As of June 30, 2019, the carrying value of the building is $2.2 million, and based on comparable sale data sourced from the Company’s real estate broker the Company believes that the current fair value exceeds the carrying value. During fiscal 2018, the Company sold the inventory and equipment related to one of the product lines impacted by this decision. This sale resulted in a $0.1 million increase in earnings before income tax. In addition to the impairment loss recognized in fiscal 2016, the Company incurred $988,000 in related restructuring charges, representing severance compensation, equipment installation and freight costs, in fiscal 2017.

XML 32 R19.htm IDEA: XBRL DOCUMENT

Note 10 - Other Income and (Expense)

12 Months Ended

Jun. 30, 2019

Other Income and Other Expense Disclosure [Text Block]

. OTHER INCOME AND

(

EXPENSE

)

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

	201 9			201 8			201 7
Interest income	$	71			128		$	399
Interest expense		(976	)		(845	)		(674	)
Foreign currency gain (loss), net		(426	)		(316	)		(86	)
(Loss) from equity investment		-			-			(307	)
Brazil tax settlements		345			1,446			-
Patent lawsuit settlement		-			(666	)		(100	)
Sale of scrap material		110			70			71
Pension net periodic benefit cost (NPBC)		(930	)		(794	)		(897	)
Other income (expense), net		195			324			190
	$	(1,611	)		(653	)	$	(1,404	)

The impact of the adoption of ASU

2017

“Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” on the respective line items in the Consolidated Statement of Earnings for fiscal

2018

and

2017

is disclosed in Note

(Summary of Significant Accounting Policies).

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Note 11 - Income Taxes

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Text Block]

. INCOME TAXES

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

	201 9		2018		2017
Domestic operations	$	1,507	$	1,351	$	(1,547	)
Foreign operations		8,103		3,514		3,085
	$	9,610	$	4,865	$	1,538

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

	2019			2018			2017
Current:
Federal	$	(106	)	$	(991	)	$	(989	)
Foreign		2,398			2,256			999
State		37			5			39
Deferred:
Federal		1,139			6,772			597
Foreign		(172	)		(396	)		(85	)
State		235			852			(14	)
	$	3,531		$	8,498		$	547

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

	2019			2018			2017
Expected tax expense	$	2,018		$	1,365		$	523
State taxes, net of federal effect		(5	)		-			9
Foreign taxes, net of federal credits		(1,055	)		(1,010	)		(210	)
Change in valuation allowance		1,744			2,074			(107	)
Tax reserve adjustments		(66	)		(38	)		272
Return to provision and other adjustments		(57	)		(72	)		(17	)
Losses not benefited		-			-			123
Tax rate change applied to deferred tax balances		(129	)		6,324			315
Canada real estate gain deduction		-			-			(337	)
Global intangible low taxed income		1,121			-			-
Other permanent items		(40	)		(145	)		(24	)
Actual tax expense	$	3,531		$	8,498		$	547

December 22, 2017,

the Tax Cuts and Jobs Act was enacted in the United States. The Act reduces the U.S. federal corporate tax rate from a graduated rate of

35%

to a flat rate of

21%,

requires companies to pay a

one

-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign sourced earnings. Accounting Standard Codification (“ASC”)

740

requires filers to record the effect of tax law changes in the period enacted. However, the SEC issued Staff Accounting Bulletin

No.

118

(“SAB

118”

), that permits filers to record provisional amounts during a measurement period ending

later than

one

year from the date of the Act’s enactment.

During the fiscal year ended

June 30, 2018,

the Company recognized a provisional tax expense of

$6.3

million as a reasonable estimate of the impact of the provisions of the Act, which was included as a component of income tax expense in its Consolidated Statement of Operations. During the fiscal year ended

June 30, 2019,

the Company has completed the accounting for the tax effects of the enactment of the Act. The Company recorded additional foreign tax credits of (

$1.8

) million which were offset by a valuation allowance, resulting in a

nil

adjustment to the provisional tax expense previously recorded.

The Company has incorporated the other impacts of tax reform that became effective for the Company in fiscal

2019

including the provisions related to Global Intangible Low Taxed Income (“GILTI”), Foreign Derived Intangible Income (“FDII”), Base Erosion Anti Abuse Tax (“BEAT”), as well as other provisions, which limit tax deductibility of expenses. For fiscal

2019,

the GILTI provisions have the most significant impact to the Company. Under the new law, U.S. taxes are imposed on foreign income in excess of a deemed return on tangible assets of its foreign subsidiaries. In general, this foreign income will effectively be taxed at an additional

10.5%

tax rate reduced by any available current year foreign tax credits. The ability to benefit foreign tax credits

may

be limited under the GILTI rules as a result of the utilization of net operating losses, foreign sourced income and other potential limitations within the foreign tax credit calculation.

The tax rate of

36.7%

on pre-tax income of

$9.6

million in the year ended

June 30, 2019

is higher than the U.S. statutory rate primarily as a result of the GILTI provisions, which became effective in fiscal

2019,

as well as changes in the jurisdictional mix of earnings, particularly Brazil with a statutory tax rate of

34%.

The tax rate of

174.7%

on pre-tax income of

$4.9

million in the year ended

June 30, 2018

is higher than the U.S. statutory rate primarily as a result of the impact of the corporate tax rate reduction on the Company’s net deferred tax assets. Excluding the impacts of tax reform, the tax rate of

44.7%

for fiscal

2018

is higher than the U.S. statutory rate primarily as a result of an increase in the valuation allowance against foreign tax credits and state net operating loss carryforwards which the Company has determined are more likely than

not

to expire unutilized.

The tax rate of

35.6%

on pre-tax income of

$1.5

million in the year ended

June 30, 2017

was 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.

Net deferred tax assets at

June 30, 2019

are

$18.6

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 U.S. operations. U.S. net deferred assets are

$22.4

million with a valuation allowance of

$6.6

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 a partial valuation allowance is required against foreign tax credit carryforwards due to the uncertainty of generating sufficient foreign source income to utilize those credits in the future and certain state net operating loss carryforward that will expire in the near future.

Key positive evidence considered include: a) cumulative domestic profitability in

2019

and

2018;

b) cost saving plans are being implemented by the Company; c) indefinite federal loss carryforward periods and d) forecasted domestic profits for future years. The negative evidence considered is that fiscal years

2017

showed domestic book and tax losses.

In fiscal

2019,

the valuation allowance increased by

$1.7

million primarily due to an increase in foreign tax credits that became available as a result of the

one

-time transition tax on foreign earnings, in excess of the limitation on their use as a result of the Company’s overall domestic loss recapture. In fiscal

2018,

the valuation allowance increased by

$2.1

million primarily due to an increase in foreign tax credits in excess of the limitation on their use as a result of the Company’s overall domestic loss recapture resulting from the decreased federal tax rate and state net operating losses that will expire unutilized.

Deferred income taxes at

June 30, 2019

and

2018

are attributable to the following (in thousands):

	201 9			201 8
Deferred tax assets (liabilities):
Inventories	$	1,361		$	1,214
Employee benefits (other than pension)		840			700
Book reserves		601			504
Federal NOL, various carryforward periods		66			551
State NOL, various carryforward periods		1,224			1,034
Foreign NOL, various carryforward periods		309			148
Foreign tax credit carryforward, expiring 2023 – 2028		7,329			5,563
Pension benefits		10,289			8,881
Retiree medical benefits		1,778			1,622
Depreciation		(17	)		113
Intangibles		(630	)		(410	)
Federal research and development and AMT credit carryforward		786			638
Other		1,446			1,180
Total deferred tax assets		25,382			21,738
Valuation allowance		(6,743	)		(4,999	)
Net deferred tax asset	$	18,639		$	16,739

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

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	)

Increase for tax positions taken during the current period		(287	)
Increase for tax positions taken during the prior period		(67	)
Effect of exchange rate changes		130
Decrease relating to lapse of applicable statute of limitations		930
Balance at June 30, 2018		(10,882	)

Increase for tax positions taken during the current period		(215	)
Decrease for tax positions taken during the prior period		5
Effect of exchange rate changes		16
Decrease relating to lapse of applicable statute of limitations		137
Balance at June 30, 2019	$	(10,939	)

As of

June 30, 2019,

2018

and

2017,

the Company has unrecognized tax benefits of

$10.9

million,

$10.9

million, and

$11.6

million, respectively, of which

$5.6

million,

$5.4

million and

$7.3

million, respectively, would favorably impact the effective tax rate if recognized.

The long-term tax obligations as of

June 30, 2019,

2018

and

2017

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

$1.7

million and

$1.8

million at

June 30, 2019

and

2018,

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

The Company has identified uncertain tax positions at

June 30, 2019

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

twelve

months by an immaterial amount. The Company recognizes interest and penalties related to income tax matters in income tax expense and has booked an immaterial amount in fiscal

2019

for interest expense.

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

2016

are

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

June 30, 2019,

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

2014

through

2018.

The federal tax loss carryforward of

$0.3

million has an unlimited carryforward period. The state tax loss carryforwards tax effected benefit of

$1.2

million expires at various times beginning in

2021.

The Company has state tax credit carryforwards of

$0.4

million that expire in the years

2020

through

2034.

The foreign tax credit carryforward of

$7.3

million expires in the years

2023

through

2028.

The research and development tax credit carryforward of

$0.8

million expires in the years

2029

through

2039.

The foreign tax loss carryforwards of

$0.3

million can be carried forward indefinitely.

June 30, 2019,

the estimated amount of total unremitted earnings of foreign subsidiaries is

$67.9

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

$2.0

million in fiscal

2017

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 and withholding tax consequences.

XML 34 R21.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans

12 Months Ended

Jun. 30, 2019

Pension and Other Postretirement Benefits Disclosure [Text Block]

. 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 is closed to new participants and current participants

longer earn additional benefits after

December 31, 2016.

The amendment of the U.S. defined benefit pension plan triggered a pension curtailment which required a re-measurement of the Plan's benefit obligation as of

December 31, 2016.

The re-measurement 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

2019,

2018

and

2017

was

$2.8

million,

$2.7

million and

$3.9

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

$1.7

million,

$1.8

million and

$1.3

million in fiscal

2019,

2018

and

2017,

respectively.

40%

70%

in equities (including

10%

20%

in Company stock), and

30%

60%

in cash and debt securities.

In fiscal

2020,

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

5.0%

for the U.S. domestic pension plan, and

2.6%

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

2019

and

2018,

the Company used a discount rate assumption of

4.3%

and

3.9%

for the U.S. plan and

2.8%

and

2.7%

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, 2019,

the U.S. plans will require a

$6.7

million contribution in fiscal

2020

and the U.K. plan will require a

$1.0

million contribution in fiscal

2020.

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

	201 9			201 8
Asset category:
Cash equivalents		2	%		1	%
Fixed income		31	%		27	%
Equities		35	%		34	%
Mutual and pooled funds		32	%		38	%
		100	%		100	%

Cash equivalents are held in money market funds.

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, 2019

and

June 30, 2018 (

in thousands).

June 30, 201 9
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	1,818	$	-	$	-	$	1,818		2	%
Fixed Income		-		38,232		-		38,232		31	%
Equities		41,629		1,482		-		43,111		35	%
Mutual & Pooled Funds		2,362		36,510		-		38,872		32	%
Total	$	45,809	$	76,224	$	-	$	122,033		100	%

June 30, 201 8
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	945	$	-	$	-	$	945		1	%
Fixed Income		-		32,303		-		32,303		27	%
Equities		38,988		1,521		-		40,509		34	%
Mutual & Pooled Funds		8,880		36,056		-		44,936		38	%
Total	$	48,813	$	69,880	$	-	$	118,693		100	%

Included in equity securities at

June 30, 2019

and

2018

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

$4.6

million and

$4.8

million, respectively.

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

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

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	159,213		$	169,696		$	175,233
Service cost		-			-			1,405
Interest cost		6,013			6,077			6,246
Plan curtailment		-			-			(4,170	)
Exchange rate changes		(1,697	)		707			(909	)
Benefits paid		(7,217	)		(6,489	)		(6,902	)
Actuarial (gain) loss		13,368			(10,778	)		(1,207	)
Benefit obligation at end of year	$	169,680		$	159,213		$	169,696

Change in plan assets
Fair value of plan assets at beginning of year		118,693			117,778			115,015
Actual return on plan assets		6,589			2,545			5,302
Employer contributions		5,413			4,366			5,000
Benefits paid		(7,217	)		(6,489	)		(6,902	)
Exchange rate changes		(1,445	)		493			(637	)
Fair value of plan assets at end of year		122,033			118,693			117,778
Funded status at end of year	$	(47,647	)	$	(40,520	)	$	(51,918	)
Amounts recognized in balance sheet
Current liability	$	(324	)	$	(67	)	$	(63	)
Noncurrent liability		(47,323	)		(40,453	)		(51,855	)
Net amount recognized in balance sheet	$	(47,647	)	$	(40,520	)	$	(51,918	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(15,590	)		(4,038	)		(12,131	)
Amounts not yet recognized as a component of net periodic benefit cost		(15,590	)		(4,038	)		(12,131	)
Accumulated net periodic benefit cost in excess of contributions		(32,057	)		(36,482	)		(39,787	)
Net amount recognized	$	(47,647	)	$	(40,520	)	$	(51,918	)

Components of net periodic benefit cost
Service cost	$	-		$	-		$	1,405
Interest cost		6,013			6,077			6,246
Expected return on plan assets		(5,129	)		(5,140	)		(5,173	)
Recognized actuarial loss		284			26			107
Net periodic benefit cost	$	1,168		$	963		$	2,585

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(38	)		(28	)		(26	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	169,680		$	159,213		$	169,696
Accumulated benefit obligation	$	169,680		$	159,213		$	169,696
Fair value of assets	$	122,033		$	118,693		$	117,778

U.S. Plan:

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

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	116,277		$	124,138		$	130,863
Service cost		-			-			1,405
Interest cost		4,854			4,804			4,994
Plan curtailment		-			-			(4,170	)
Benefits paid		(5,565	)		(4,786	)		(5,106	)
Actuarial (gain) loss		10,814			(7,879	)		(3,848	)
Benefit obligation at end of year	$	126,380		$	116,277		$	124,138

Weighted average assumptions – benefit obligation
Discount rate		3.56	%		4.27	%		3.92	%
Rate of compensation increase		n/a			n/a		Varies

Change in plan assets
Fair value of plan assets at beginning of year	$	82,140		$	81,928		$	81,910
Actual return on plan assets		4,132			1,645			1,079
Employer contributions		4,443			3,353			4,045
Benefits paid		(5,565	)		(4,786	)		(5,106	)
Fair value of plan assets at end of year		85,150			82,140			81,928
Funded status at end of year	$	(41,230	)	$	(34,137	)	$	(42,210	)

Amounts recognized in balance sheet
Current liability	$	(324	)	$	(67	)	$	(63	)
Noncurrent liability		(40,906	)		(34,070	)		(42,147	)
Net amount recognized in balance sheet	$	(41,230	)	$	(34,137	)	$	(42,210	)

Weighted average assumptions – net periodic benefit cost
Discount rate		4.27	%		3.92	%		3.77	%
Rate of compensation increase	Varies			Varies			Varies
Return on plan assets		5.00	%		5.00	%		5.00	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(13,196	)		(2,731	)		(8,254	)
Amounts not yet recognized as a component of net periodic benefit cost		(13,196	)		(2,731	)		(8,254	)
Accumulated contributions less than net periodic benefit cost		(28,034	)		(31,406	)		(33,956	)
Net amount recognized	$	(41,230	)	$	(34,137	)	$	(42,210	)

Components of net periodic benefit cost
Service cost	$	-		$	-		$	1,405
Interest cost		4,854			4,804			4,994
Expected return on plan assets		(4,067	)		(4,026	)		(4,046	)
Recognized actuarial loss		284			26			107
Net periodic benefit cost	$	1,071		$	804		$	2,460

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(38	)		(28	)		(26	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	126,380		$	116,277		$	124,138
Accumulated benefit obligation	$	126,380		$	116,277		$	124,138
Fair value of assets	$	85,150		$	82,140		$	81,928

U.K. Plan:

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

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	42,936		$	45,558		$	44,370
Interest cost		1,159			1,273			1,252
Exchange rate changes		(1,697	)		707			(909	)
Benefits paid		(1,652	)		(1,703	)		(1,796	)
Actuarial (gain) loss		2,554			(2,899	)		2,641
Benefit obligation at end of year	$	43,300		$	42,936		$	45,558

Weighted average assumptions - benefit obligation
Discount rate		2.39	%		2.80	%		2.73	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	36,553		$	35,850		$	33,105
Actual return on plan assets		2,457			900			4,223
Employer contributions		970			1,013			954
Benefits paid		(1,652	)		(1,703	)		(1,796	)
Exchange rate changes		(1,445	)		493			(636	)
Fair value of plan assets at end of year		36,883			36,553			35,850
Funded status at end of year	$	(6,417	)	$	(6,383	)		(9,708	)
Amounts recognized in balance sheet
Current liability	$	—		$	—		$	—
Noncurrent liability		(6,417	)		(6,383	)		(9,708	)
Net amount recognized in balance sheet	$	(6,417	)	$	(6,383	)	$	(9,708	)

Weighted average assumptions – net periodic benefit cost

Discount rate		2.80	%		2.73	%		3.00	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		2.98	%		3.01	%		3.59	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	—		$	—		$	—
Accumulated loss		(2,394	)		(1,307	)		(3,877	)
Amounts not yet recognized as a component of net periodic benefit cost		(2,394	)		(1,307	)		(3,877	)
Accumulated net periodic benefit cost in excess of contributions		(4,023	)		(5,076	)		(5,831	)
Net amount recognized	$	(6,417	)	$	(6,383	)	$	(9,708	)

Components of net periodic benefit cost
Service cost	$	—		$	—		$	—
Interest cost		1,159			1,273			1,252
Expected return on plan assets		(1,062	)		(1,114	)		(1,127	)
Amortization of net loss		—			—			—
Net periodic benefit cost	$	97		$	159		$	125

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	$	43,300		$	42,936		$	45,558
Accumulated benefit obligation	$	43,300		$	42,936		$	45,558
Fair value of assets	$	36,883		$	36,553		$	35,850

Postretirement Medical and Life Insurance Benefits:

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

	201 9			201 8			201 7
Change in benefit obligation:
Benefit obligation at beginning of year	$	6,385		$	7,086		$	7,381
Service cost		72			85			85
Interest cost		265			270			269
Benefits paid		(346	)		(388	)		(483	)
Actuarial (gain) loss		554			(668	)		(166	)
Benefit obligation at end of year	$	6,930		$	6,385		$	7,086

Weighted average assumptions: benefit obligations
Discount rate		3.56	%		4.27	%		3.92	%
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		346			388			483
Benefits paid, net of employee contributions		(346	)		(388	)		(483	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(353	)	$	(339	)	$	(370	)
Non-current postretirement benefit obligation		(6,577	)		(6,046	)		(6,716	)
Net amount recognized in balance sheet	$	(6,930	)	$	(6,385	)	$	(7,086	)

Weighted average assumptions – net periodic benefit cost
Discount rate		4.27	%		3.92	%		3.77	%
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	$	2,777		$	3,314		$	3,851
Accumulated gain (loss)		(1,452	)		(928	)		(1,696	)
Amounts not yet recognized as a component of net periodic benefit cost		1,325			2,386			2,155
Net periodic benefit cost in excess of accumulated contributions		(8,255	)		(8,771	)		(9,241	)
Net amount recognized	$	(6,930	)	$	(6,385	)	$	(7,086	)

Components of net periodic benefit cost
Service cost	$	72		$	85		$	85
Interest cost		265			270			269
Amortization of prior service credit		(537	)		(537	)		(673	)
Amortization of accumulated loss		30			99			121
Net periodic benefit cost	$	(170	)	$	(83	)	$	(198	)


Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	537		$	537
Net loss		(83	)		(30	)		(99	)
	$	454		$	507		$	438


Healthcare cost trend rate assumed for next year		6.30	%		6.60	%		6.60	%
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			2037

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
	201 9		201 8		201 7
Effect on total of service and interest cost	$	-	$	-	$	-
Effect on postretirement benefit obligation		1		1		2

	1% Decrease
	201 9			201 8			201 7
Effect on total of service and interest cost	$	-		$	-		$	-
Effect on postretirement benefit obligation		(1	)		(1	)		(2	)

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

Fiscal Year	Pension		Other Benefits
2020	$	8,006	$	354
2021		8,011		354
2022		8,134		358
2023		8,978		363
2024		8,373		353
2025-2029		53,635		2,228
	$	95,137	$	4,010

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Note 13 - Debt

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Text Block]

. DEBT

Debt is comprised of the following (in thousands):

	June 30, 201 9		June 30, 201 8
Short-term and current maturities
Loan and Security Agreement	$	1,765	$	1,688
Other		2,300		1,967
Long-term debt
Loan and Security Agreement, net of current portion		17,541		17,307
Total debt	$	21,606	$	20,962

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

Fiscal Year
2020		4,065
2021		16,746
2022		795
2023		-
2024		-
Thereafter		-
Total	$	21,606

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

January 30, 2018

in order to extend the maturity date of the Line of Credit. Borrowings under the Line of Credit

may

not

exceed

$23.0

million. The maturity date is now

April 30, 2021

and it has an interest rate of LIBOR plus

1.5%.

The effective interest rate under the agreement for fiscal

2019

was

4.08%.

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, 2019,

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, 2019,

$4.4

million of the term loan was outstanding.

$23.0

million. As of

June 30, 2019,

the Company had borrowings of

$14.9

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, 2019,

the Company has approximately

$7.2

million available on the Line of Credit.

December 2017,

the Company’s Brazilian subsidiary entered into

two

short-term loans with local banks in order to support the Company’s strategic initiatives. The loans backed by the entity’s US dollar denominated export receivables were made with Santander Bank and Bradesco Bank and totaled

$3.5

million. The Santander loan of

$1.5

million had a term of

180

days and a rate of

4.19%

and the Bradesco loan of

$2.0

million had a term of

360

days and a rate of

4.75%.

The Santander loan was paid off in fiscal year

2018.

March 2019,

the Company’s Brazilian subsidiary again refinanced the

$1.3

million balance on the Bradesco loan splitting the amount between Bradesco, and Santander. The new Santander loan of

$0.8

million is due in

February 2020

and has a rate of

5.3%

and the new Bradesco loan of

$0.5

million in due in

March 2020,

and has a rate of

4.27%.

April 2019

the Brazilian subsidiary refinanced the Bradesco loan for

$1.0

million due

April 2020

at rate of

4.0%.

As of

June 30, 2019,

the outstanding balance of all Brazilian loans was

$2.3

million.

Brazil also has an unused line of credit of

$0.5

million at

June 30, 2019.

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Note 14 - Common Stock	12 Months Ended
Note 14 - Common Stock	Jun. 30, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	1 4 . 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, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 5 . 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 - Concentrations of Credit Risk	12 Months Ended
Note 16 - Concentrations of Credit Risk	Jun. 30, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	1 6 . CONCENTRATIONS OF CREDIT RISK The Company believes it has no significant concentrations of credit risk as of June 30, 2019. 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, 2019

Segment Reporting Disclosure [Text Block]

. 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.

two

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

	Year Ended June 30, 201 9
	North America		International		Unallocated			Total
Sales 1	$	136,387	$	91,635	$	-		$	228,022
Operating income		9,468		8,043		(6,290	)		11,221
Capital expenditures and software development		3,617		3,610		-			7,227
Depreciation and amortization		5,022		2,316		-			7,338
Current assets 4		41,188		63,205		15,582			119,975
Long-lived assets 5		35,638		14,168		20,306			70,112

	Year Ended June 30, 201 8
	North America		International		Unallocated		Total
Sales 2	$	128,442	$	87,886	$	-	$	216,328
Operating income Capital expenditures and software development		3,426		2,336		-		5,762
Depreciation and amortization		4,923		2,588		-		7,511
Current assets 4		37,546		60,855		14,827		113,228
Long-lived assets 5		37,489		13,010		18,559		69,058

	Year Ended June 30, 201 7
	North America			International			Unallocated			Total
Sales 3	$	124,606		$	82,417		$	-		$	207,023
Restructuring charges		(82	)		(906	)		-			(988	)
Operating loss		6,910			393			(7,450	)		(147	)
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

Excludes

$4,879

of North American segment intercompany sales to the International segment and

$16,187

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

Excludes

$6,468

of North American segment intercompany sales to the International segment and

$14,239

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

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.

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

not

allocated to the segments include cash and cash equivalents.

Long lived assets consist of property, plant and equipment, net taxes receivable, deferred tax assets, net intangible assets and goodwill.

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

Sales
	Year Ended June 30,
	201 9		201 8		201 7
North America
United States	$	127,359	$	119,226	$	115,562
Canada & Mexico		9,028		9,216		9,044
		136,387		128,442		124,606
International
Brazil		54,324		49,726		45,614
United Kingdom		24,042		25,099		24,954
China		7,370		7,323		6,873
Australia & New Zealand		5,899		5,738		4,976
		91,635		87,886		82,417
Total Sales	$	228,022	$	216,328	$	207,023

Long-lived Assets
	Year Ended June 30,
	201 9		201 8		201 7
North America
United States	$	35,594	$	37,437	$	39,131
Canada & Mexico		44		52		68
		35,638		37,489		39,199
International
Brazil		10,067		8,662		10,111
United Kingdom		2,046		1,876		1,976
China		1,944		2,346		2,426
Australia & New Zealand		111		126		171
		14,168		13,010		14,684

Total Long Lived Assets	$	49,806	$	50,499	$	53,883

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Note 18 - Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information [Text Block]

. QUAR

TERLY 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 2017	$	51,818	$	16,685	$	640	$	426		$	0.06
December 2017		52,124		16,076		1,097		(6,521	)		(0.93	)
March 2018		54,834		18,217		2,337		1,637			0.23
June 2018		57,552		18,579		791		825			0.12
	$	216,328	$	69,557	$	4,865	$	(3,633	)	$	(0.52	)
September 2018	$	51,901	$	16,659	$	942	$	584		$	0.08
December 2018		56,532		18,548		2,991		1,926			0.27
March 2019		58,498		19,155		3,045		2,088			0.30
June 2019		61,091		20,579		2,632		1,481			0.22
	$	228,022	$	74,941	$	9,610	$	6,079		$	0.87

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Note 19 - Related Party Transactions	12 Months Ended
Note 19 - Related Party Transactions	Jun. 30, 2019
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 was the president of our subsidiary in Brazil. Mr. De Camargo retired from the Company effective June 30, 2018. The Company made annual purchases from Armco of $3.8 million and $5.1 million in fiscal 2018 and 2017, respectively. The Company had no accounts payable to Armco as of June 30, 2018, and $0.2 million as of June 30, 2017.

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Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jun. 30, 2019

SEC Schedule, 12-09, 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

Receivable

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

Year Ended June 30, 2019	$	1,277	$	(91	)	$	(5	)	$	(496	)	$	685
Year Ended June 30, 2018		946		539			(71	)		(137	)		1,277
Year Ended June 30, 2017		887		284			(23	)		(202	)		946

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, 2019	$	4,999	$	1,744	$	-	$	-		$	6,743
Year Ended June 30, 2018		2,922		2,077		-		-			4,999
Year Ended June 30, 2017		5,246		117		1		(2,442	)		2,922

All other financial statement schedules are omitted because they are inapplicable,

not

required under the instructions, or the information is reflected in the financial statements or notes thereto.

XML 43 R30.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of consolidation

Financial Instruments and Derivatives [Policy Text Block]

Financial instruments and derivatives

June 30, 2019

and

June 30, 2018

were zero.

Receivable [Policy Text Block]

Accounts receivable

: Accounts receivable consist of trade receivables from customers. The expense (income) for bad debts amounted to $(

0.1

$0.5,

and

$0.3

million in fiscal

2019,

2018

and

2017,

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

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

years, machinery and equipment

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

percent of the economic life of the leased property; present value of the future minimum lease payments equals or exceeds

percent of the fair market value of the leased property. If

none

June 30, 2019

and

June 30, 2018

were

$1.9

million and

$1.2

million, respectively. Repairs and maintenance of equipment are expensed as incurred.

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Intangible assets

: Identifiable intangibles are recorded at cost and are amortized on a straight-line basis over a

year period. The estimated useful lives of the intangible assets subject to amortization are:

years for patents,

years for trademarks and trade names,

years for completed technology,

years for non-compete agreements,

years for customer relationships and

years for software development.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Long-Lived Asset Impairment

may

not

be recoverable.

events or circumstances arose in fiscal

2019

and

2018

which required management to perform an impairment analysis.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

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 of

two

reporting units associated with the

November 2011

acquisition of Bytewise and the

February 2017

acquisition of a private software company. Bytewise is tested in

October

and the software reporting unit is tested in

February.

As of

October 1, 2018,

two

-step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that the fair value of the Bytewise goodwill exceeded its carrying amount, and that

goodwill impairment was determined to exist. As of

February 1, 2018,

the Company performed an analysis of quantitative factors to determine whether it was more likely than

not

that the fair value of the acquired software business exceeded its carrying amount. Based on the Company's analysis of quantitative factors, the Company determined that

impairment existed.

Revenue [Policy Text Block]

Revenue recognition

: On

July 1, 2018,

the Company adopted ASC Topic

606,

Revenue from Contracts with Customers, and all the related amendments (“ASC Topic

606”

606

July 1, 2018

were changes in presentation within the Consolidated Balance Sheet. Therefore, while the Company made adjustments to certain opening balances on its

July 1, 2018

Consolidated Balance Sheet, the Company made

adjustment to opening Retained Earnings. The impact of the adoption of ASC Topic

606

has been immaterial to its net income on an ongoing basis; however, adoption did increase the level of disclosures concerning net sales. Results for reporting periods beginning

July 1, 2018

are presented under the new guidance, while prior period amounts continue to be reported in accordance with previous guidance without revision.

The core principle of ASC Topic

606

five

-step model prescribed by the FASB, which requires us to: (

) identify the contract with the customer; (

) identify the performance obligations in the contract; (

) determine the transaction price; (

) allocate the transaction price to the performance obligations in the contract; and (

) recognize revenue when, or as, the Company satisfies a performance obligation.

performance obligation related amounts were deferred as of

June 30, 2019.

Purchase orders are of durations less than

one

year. As such, the Company applies the practical expedient in ASC paragraph

606

and does

not

disclose information about remaining performance obligations that have original expected durations of

one

year or less, for which work has

not

yet been performed.

Performance Obligations

June 30, 2019.

not

may

be slightly accelerated compared to the Company’s right to consideration at the time of shipment or delivery.

not

significant. Amounts billed and due from the Company’s customers are classified as receivables on the Consolidated Balance Sheet. As the Company’s standard payment terms are usually less than

one

year, the Company has elected the practical expedient under ASC paragraph

606

not

assess whether a contract has a significant financing component.

not

constrained according to the definition within the new standard. Additionally, the Company applies the practical expedient in ASC paragraph

606

18B

and accounts for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment activity, rather than a separate performance obligation.

With the adoption of ASC Topic

606,

the Company reclassified certain amounts related to variable consideration. Under ASC Topic

606,

2019.

As of

June 30, 2019,

the balance of the return asset is

$0.1

million and the balance of the refund liability is

$0.2

million, and they are presented within prepaid expenses and other current assets and accrued expenses, respectively, on the Consolidated Balance Sheet.

The Company, in general, warrants its products against certain defects in material and workmanship when used as designed, for a period of up to

year. The Company does

not

sell extended warranties.

Contract Balances

Contract assets primarily relate to the Company’s rights to consideration for work completed but

not

yet been met, and therefore, revenue has

not

been recognized. The Company had

contract asset balances, but had contract liability balances of

$0.3

million at

June 30, 2019.

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]

Allowance for doubtful accounts

: The allowance for doubtful accounts of

$0.7

million at the end of fiscal

2019

compared to

$1.3

million at the end of fiscal

2018

not

reflect historical trends, the estimates of the recoverability of the amounts due the Company could be adversely affected.

Advertising Cost [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:

$5.0

million in fiscal

2019,

$5.1

million in fiscal

2018

and

$5.2

million in fiscal

2017

and are included in selling, general and administrative expenses.

Freight 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.

December 21, 2016,

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

December 31, 2016.

Consequently, the Plan is closed to new participants and current participants

longer earn additional benefits after

December 31, 2016.

2019,

2018

and

2017

were

$0.3

million,

$0.1

million, and

$0.2

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

$67.9

million of undistributed earnings of foreign subsidiaries as of

June 30, 2019

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:

$3.7

million in fiscal

2019,

$3.6

million in fiscal

2018,

and

$3.5

million in fiscal

2017.

Earnings Per Share, Policy [Policy Text Block]

Earnings per share (EPS)

68,378,

23,771,

and

32,674,

of potentially dilutive common shares in fiscal

2019,

2018

and

2017,

respectively, resulting from shares issuable under its stock based compensation 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

Other Income and Expense.

Use of Estimates, Policy [Policy Text Block]

Use of accounting estimates

not

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Standards:

The Company adopted ASU

No.

2017

07,

Compensation-Retirement Benefits (Topic

715

) in

FY19:

2019

and the reclassifications to the

2018

and

2017

fiscal year Consolidated Statement of Operations to retroactively apply classification of the service cost component and the other components of NPBC:

(Dollars in Thousands)	Increase (Decrease) to Net Income
	FY 2019			FY 2018			FY 2017
Cost of goods sold	$	710		$	582		$	649
Selling, general and administrative expense		220			212			248
Other income (expense) net		(930	)		(794	)		(897	)
	$	-		$	-		$	-

Recent

ly Issued

Accounting

Standards

not

yet

Adopted:

February 2016,

the FASB issued ASU

No.

2016

02,

“Leases (Topic

842

)”. The Company will adopt the new standard effective

July 1, 2019.

ASU

2016

not

months regardless of their classification. Leases with a term of

July 2018,

the FASB issued ASU

No.

2018

and

No.

2018

11,

Leases (ASC

842

). ASU

2018

provides narrow amendments that clarify how to apply certain aspects of the guidance in ASU

2016

02.

ASU

2018

not

$6.3

million for operating leases. The Company currently has

finance leases.

June 2016,

the FASB issued ASU

2016

13,

“Financial Instruments - Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments,” and subsequent amendment to the guidance, ASU

2018

November 2018.

The standard significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are

not

excluded from the scope that have the contractual right to receive cash. ASU

2018

clarifies that receivables arising from operating leases are accounted for using lease guidance and

not

December 15, 2019,

and interim periods therein. Early adoption is permitted for annual periods beginning after

December 15, 2018,

and interim periods therein. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

January 2017,

the FASB issued ASU

No.

2017

04,

"Intangibles-Goodwill and Other (Topic

350

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

of the goodwill impairment test. The amendments in this ASU are effective for annual and interim periods beginning after

December 15, 2019

January 1, 2017.

The Company is currently evaluating the impact of the update on our consolidated financial statements.

February 2018,

the FASB issued ASU

No.

2018

02,

“Income Statement – Reporting Comprehensive Income (Topic

220

2018

02,

FASB has given companies an option to reclassify the stranded tax effects resulting from the tax law and tax rate changes under the Tax Cuts and Jobs Act of

2017

from AOCI to retained earnings. This guidance is effective for fiscal years beginning after

December 15, 2018

and requires companies to disclose whether they are or are

not

opting to reclassify the income tax effects from the new

2017

tax act. The adoption of this standard is

not

expected to have a material impact on the Company’s financial position and results of operations upon adoption.

August 2018,

the FASB issued ASU

No.

2018

13,

"Fair Value Measurement ('Topic

820'

): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." The ASU modifies the disclosure requirements in Topic

820,

fair value measurements held at the end of the reporting period and disclosing the range and weighted average of significant unobservable inputs used to develop Level

fair value measurements. This ASU is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after

December 15, 2019.

The Company is currently evaluating the effect, if any, that ASU

2018

will have on its consolidated financial statements.

August 2018,

the FASB issued ASU

No.

2018

14,

"Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic

715

): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." ASU

2018

removes certain disclosures that are

not

December 15, 2020.

The amendments in ASU

2018

must be applied on a retrospective basis. The Company is currently assessing the effect, if any, that ASU

2018

will have on its consolidated financial statements.

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Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

(Dollars in Thousands)	Increase (Decrease) to Net Income
	FY 2019			FY 2018			FY 2017
Cost of goods sold	$	710		$	582		$	649
Selling, general and administrative expense		220			212			248
Other income (expense) net		(930	)		(794	)		(897	)
	$	-		$	-		$	-

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Note 3 - Business Acquisition (Tables)

12 Months Ended

Jun. 30, 2019

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
Intangible assets		1,220
Goodwill		1,634
Fixed assets		47
Deferred tax liability		(1,090	)
Accounts payable and current liabilities		(80	)
Purchase Price (1)	$	5,294

XML 46 R33.htm IDEA: XBRL DOCUMENT

Note 4 - Stock-based Compensation (Tables)

12 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement, Option, Activity [Table Text Block]

	Shares on Options			Weighted Average Exercise Price		Shares Available for Grant
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
2012 Plan Expired		-					(365,581	)
2017 Plan Authorized		-					500,000
Options granted		63,607			6.35		(63,607	)
Options exercised		(17,561	)		6.69		-
Options canceled		(52,816	)				13,614
Balance, June 30, 2018		70,515					450,007
Options granted		55,227			5.45		(55,227	)
Options exercised		(11,981	)		5.72		-
Options canceled		(26,628	)				18,087
Balance, June 30, 2019		87,133					412,867

Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]

Weighted average remaining life (years)		1.3
Weighted average fair value on grant date of options granted in:
2017	$	2.76
2018		2.23
2019		2.28

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Note 6 - Inventories (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Inventory, Current [Table Text Block]

	June 30, 201 9			June 30, 201 8
Raw materials and supplies	$	26,106		$	23,764
Goods in process and finished parts		17,464			18,423
Finished goods		41,500			40,739
		85,070			82,926
LIFO reserve		(23,280	)		(24,887	)
	$	61,790		$	58,039

XML 48 R35.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Intangible Assets and Goodwill [Table Text Block]

	June 30, 201 9							June 30, 201 8
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Goodwill	$	4,668	$	-		$	4,668	$	4,668	$	-		$	4,668
Identifiable intangible assets		19,885		(11,425	)		8,460		18,533		(9,216	)		9,317

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

	June 30, 201 9			June 30, 201 8
Non-compete agreements	$	600		$	600
Trademarks and trade names		2,070			2,070
Completed technology		2,358			2,358
Customer relationships		5,580			5,580
Software development		8,952			7,600
Other intangible assets		325			325
Total		19,885			18,533
Accumulated amortization		(11,425	)		(9,216	)
Total net balance	$	8,460		$	9,317

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

Fiscal Year
2020	$	2,005
2021		1,602
2022		1,370
2023		1,016
2024		628
Thereafter		1,839
	$	8,460

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Note 8 - Property, Plant and Equity (Tables)

12 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Table Text Block]

	As of June 30, 201 9
	Cost		Accumulated Depreciation			Net
Land	$	1,210	$	-		$	1,210
Buildings and building improvements		44,772		(30,427	)		14,345
Machinery and equipment		117,386		(96,262	)		21,124
Total	$	163,368	$	(126,689	)	$	36,679

	As of June 30, 201 8
	Cost		Accumulated Depreciation			Net
Land	$	1,210	$	-		$	1,210
Buildings and building improvements		44,540		(29,774	)		14,766
Machinery and equipment		117,573		(97,035	)		20,538
Total	$	163,323	$	(126,809	)	$	36,514

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

Fiscal Year
2020	$	2,434
2021		2,328
2022		943
2023		762
2024		502
Thereafter		1,092
	$	8,061

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Note 10 - Other Income and (Expense) (Tables)

12 Months Ended

Jun. 30, 2019

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

	201 9			201 8			201 7
Interest income	$	71			128		$	399
Interest expense		(976	)		(845	)		(674	)
Foreign currency gain (loss), net		(426	)		(316	)		(86	)
(Loss) from equity investment		-			-			(307	)
Brazil tax settlements		345			1,446			-
Patent lawsuit settlement		-			(666	)		(100	)
Sale of scrap material		110			70			71
Pension net periodic benefit cost (NPBC)		(930	)		(794	)		(897	)
Other income (expense), net		195			324			190
	$	(1,611	)		(653	)	$	(1,404	)

XML 51 R38.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2019

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

	201 9		2018		2017
Domestic operations	$	1,507	$	1,351	$	(1,547	)
Foreign operations		8,103		3,514		3,085
	$	9,610	$	4,865	$	1,538

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

	2019			2018			2017
Current:
Federal	$	(106	)	$	(991	)	$	(989	)
Foreign		2,398			2,256			999
State		37			5			39
Deferred:
Federal		1,139			6,772			597
Foreign		(172	)		(396	)		(85	)
State		235			852			(14	)
	$	3,531		$	8,498		$	547

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

	2019			2018			2017
Expected tax expense	$	2,018		$	1,365		$	523
State taxes, net of federal effect		(5	)		-			9
Foreign taxes, net of federal credits		(1,055	)		(1,010	)		(210	)
Change in valuation allowance		1,744			2,074			(107	)
Tax reserve adjustments		(66	)		(38	)		272
Return to provision and other adjustments		(57	)		(72	)		(17	)
Losses not benefited		-			-			123
Tax rate change applied to deferred tax balances		(129	)		6,324			315
Canada real estate gain deduction		-			-			(337	)
Global intangible low taxed income		1,121			-			-
Other permanent items		(40	)		(145	)		(24	)
Actual tax expense	$	3,531		$	8,498		$	547

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

	201 9			201 8
Deferred tax assets (liabilities):
Inventories	$	1,361		$	1,214
Employee benefits (other than pension)		840			700
Book reserves		601			504
Federal NOL, various carryforward periods		66			551
State NOL, various carryforward periods		1,224			1,034
Foreign NOL, various carryforward periods		309			148
Foreign tax credit carryforward, expiring 2023 – 2028		7,329			5,563
Pension benefits		10,289			8,881
Retiree medical benefits		1,778			1,622
Depreciation		(17	)		113
Intangibles		(630	)		(410	)
Federal research and development and AMT credit carryforward		786			638
Other		1,446			1,180
Total deferred tax assets		25,382			21,738
Valuation allowance		(6,743	)		(4,999	)
Net deferred tax asset	$	18,639		$	16,739

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

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	)

Increase for tax positions taken during the current period		(287	)
Increase for tax positions taken during the prior period		(67	)
Effect of exchange rate changes		130
Decrease relating to lapse of applicable statute of limitations		930
Balance at June 30, 2018		(10,882	)

Increase for tax positions taken during the current period		(215	)
Decrease for tax positions taken during the prior period		5
Effect of exchange rate changes		16
Decrease relating to lapse of applicable statute of limitations		137
Balance at June 30, 2019	$	(10,939	)

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Note 12 - Employee Benefit and Retirement Plans (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Allocation of Plan Assets [Table Text Block]

	201 9			201 8
Asset category:
Cash equivalents		2	%		1	%
Fixed income		31	%		27	%
Equities		35	%		34	%
Mutual and pooled funds		32	%		38	%
		100	%		100	%

Schedule of Portfolio By Valuation Category [Table Text Block]

June 30, 201 9
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	1,818	$	-	$	-	$	1,818		2	%
Fixed Income		-		38,232		-		38,232		31	%
Equities		41,629		1,482		-		43,111		35	%
Mutual & Pooled Funds		2,362		36,510		-		38,872		32	%
Total	$	45,809	$	76,224	$	-	$	122,033		100	%

June 30, 201 8
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	945	$	-	$	-	$	945		1	%
Fixed Income		-		32,303		-		32,303		27	%
Equities		38,988		1,521		-		40,509		34	%
Mutual & Pooled Funds		8,880		36,056		-		44,936		38	%
Total	$	48,813	$	69,880	$	-	$	118,693		100	%

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

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	159,213		$	169,696		$	175,233
Service cost		-			-			1,405
Interest cost		6,013			6,077			6,246
Plan curtailment		-			-			(4,170	)
Exchange rate changes		(1,697	)		707			(909	)
Benefits paid		(7,217	)		(6,489	)		(6,902	)
Actuarial (gain) loss		13,368			(10,778	)		(1,207	)
Benefit obligation at end of year	$	169,680		$	159,213		$	169,696

Change in plan assets
Fair value of plan assets at beginning of year		118,693			117,778			115,015
Actual return on plan assets		6,589			2,545			5,302
Employer contributions		5,413			4,366			5,000
Benefits paid		(7,217	)		(6,489	)		(6,902	)
Exchange rate changes		(1,445	)		493			(637	)
Fair value of plan assets at end of year		122,033			118,693			117,778
Funded status at end of year	$	(47,647	)	$	(40,520	)	$	(51,918	)
Amounts recognized in balance sheet
Current liability	$	(324	)	$	(67	)	$	(63	)
Noncurrent liability		(47,323	)		(40,453	)		(51,855	)
Net amount recognized in balance sheet	$	(47,647	)	$	(40,520	)	$	(51,918	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(15,590	)		(4,038	)		(12,131	)
Amounts not yet recognized as a component of net periodic benefit cost		(15,590	)		(4,038	)		(12,131	)
Accumulated net periodic benefit cost in excess of contributions		(32,057	)		(36,482	)		(39,787	)
Net amount recognized	$	(47,647	)	$	(40,520	)	$	(51,918	)

Components of net periodic benefit cost
Service cost	$	-		$	-		$	1,405
Interest cost		6,013			6,077			6,246
Expected return on plan assets		(5,129	)		(5,140	)		(5,173	)
Recognized actuarial loss		284			26			107
Net periodic benefit cost	$	1,168		$	963		$	2,585

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(38	)		(28	)		(26	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	169,680		$	159,213		$	169,696
Accumulated benefit obligation	$	169,680		$	159,213		$	169,696
Fair value of assets	$	122,033		$	118,693		$	117,778

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	116,277		$	124,138		$	130,863
Service cost		-			-			1,405
Interest cost		4,854			4,804			4,994
Plan curtailment		-			-			(4,170	)
Benefits paid		(5,565	)		(4,786	)		(5,106	)
Actuarial (gain) loss		10,814			(7,879	)		(3,848	)
Benefit obligation at end of year	$	126,380		$	116,277		$	124,138

Weighted average assumptions – benefit obligation
Discount rate		3.56	%		4.27	%		3.92	%
Rate of compensation increase		n/a			n/a		Varies

Change in plan assets
Fair value of plan assets at beginning of year	$	82,140		$	81,928		$	81,910
Actual return on plan assets		4,132			1,645			1,079
Employer contributions		4,443			3,353			4,045
Benefits paid		(5,565	)		(4,786	)		(5,106	)
Fair value of plan assets at end of year		85,150			82,140			81,928
Funded status at end of year	$	(41,230	)	$	(34,137	)	$	(42,210	)

Amounts recognized in balance sheet
Current liability	$	(324	)	$	(67	)	$	(63	)
Noncurrent liability		(40,906	)		(34,070	)		(42,147	)
Net amount recognized in balance sheet	$	(41,230	)	$	(34,137	)	$	(42,210	)

Weighted average assumptions – net periodic benefit cost
Discount rate		4.27	%		3.92	%		3.77	%
Rate of compensation increase	Varies			Varies			Varies
Return on plan assets		5.00	%		5.00	%		5.00	%

Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service cost	$	-		$	-		$	-
Accumulated loss		(13,196	)		(2,731	)		(8,254	)
Amounts not yet recognized as a component of net periodic benefit cost		(13,196	)		(2,731	)		(8,254	)
Accumulated contributions less than net periodic benefit cost		(28,034	)		(31,406	)		(33,956	)
Net amount recognized	$	(41,230	)	$	(34,137	)	$	(42,210	)

Components of net periodic benefit cost
Service cost	$	-		$	-		$	1,405
Interest cost		4,854			4,804			4,994
Expected return on plan assets		(4,067	)		(4,026	)		(4,046	)
Recognized actuarial loss		284			26			107
Net periodic benefit cost	$	1,071		$	804		$	2,460

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service cost	$	-		$	-		$	-
Net loss		(38	)		(28	)		(26	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	126,380		$	116,277		$	124,138
Accumulated benefit obligation	$	126,380		$	116,277		$	124,138
Fair value of assets	$	85,150		$	82,140		$	81,928

	201 9			201 8			201 7
Change in benefit obligation
Benefit obligation at beginning of year	$	42,936		$	45,558		$	44,370
Interest cost		1,159			1,273			1,252
Exchange rate changes		(1,697	)		707			(909	)
Benefits paid		(1,652	)		(1,703	)		(1,796	)
Actuarial (gain) loss		2,554			(2,899	)		2,641
Benefit obligation at end of year	$	43,300		$	42,936		$	45,558

Weighted average assumptions - benefit obligation
Discount rate		2.39	%		2.80	%		2.73	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	36,553		$	35,850		$	33,105
Actual return on plan assets		2,457			900			4,223
Employer contributions		970			1,013			954
Benefits paid		(1,652	)		(1,703	)		(1,796	)
Exchange rate changes		(1,445	)		493			(636	)
Fair value of plan assets at end of year		36,883			36,553			35,850
Funded status at end of year	$	(6,417	)	$	(6,383	)		(9,708	)
Amounts recognized in balance sheet
Current liability	$	—		$	—		$	—
Noncurrent liability		(6,417	)		(6,383	)		(9,708	)
Net amount recognized in balance sheet	$	(6,417	)	$	(6,383	)	$	(9,708	)

Weighted average assumptions – net periodic benefit cost

Discount rate		2.80	%		2.73	%		3.00	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		2.98	%		3.01	%		3.59	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost	$	—		$	—		$	—
Accumulated loss		(2,394	)		(1,307	)		(3,877	)
Amounts not yet recognized as a component of net periodic benefit cost		(2,394	)		(1,307	)		(3,877	)
Accumulated net periodic benefit cost in excess of contributions		(4,023	)		(5,076	)		(5,831	)
Net amount recognized	$	(6,417	)	$	(6,383	)	$	(9,708	)

Components of net periodic benefit cost
Service cost	$	—		$	—		$	—
Interest cost		1,159			1,273			1,252
Expected return on plan assets		(1,062	)		(1,114	)		(1,127	)
Amortization of net loss		—			—			—
Net periodic benefit cost	$	97		$	159		$	125

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	$	43,300		$	42,936		$	45,558
Accumulated benefit obligation	$	43,300		$	42,936		$	45,558
Fair value of assets	$	36,883		$	36,553		$	35,850

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

	201 9			201 8			201 7
Change in benefit obligation:
Benefit obligation at beginning of year	$	6,385		$	7,086		$	7,381
Service cost		72			85			85
Interest cost		265			270			269
Benefits paid		(346	)		(388	)		(483	)
Actuarial (gain) loss		554			(668	)		(166	)
Benefit obligation at end of year	$	6,930		$	6,385		$	7,086

Weighted average assumptions: benefit obligations
Discount rate		3.56	%		4.27	%		3.92	%
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		346			388			483
Benefits paid, net of employee contributions		(346	)		(388	)		(483	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(353	)	$	(339	)	$	(370	)
Non-current postretirement benefit obligation		(6,577	)		(6,046	)		(6,716	)
Net amount recognized in balance sheet	$	(6,930	)	$	(6,385	)	$	(7,086	)

Weighted average assumptions – net periodic benefit cost
Discount rate		4.27	%		3.92	%		3.77	%
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	$	2,777		$	3,314		$	3,851
Accumulated gain (loss)		(1,452	)		(928	)		(1,696	)
Amounts not yet recognized as a component of net periodic benefit cost		1,325			2,386			2,155
Net periodic benefit cost in excess of accumulated contributions		(8,255	)		(8,771	)		(9,241	)
Net amount recognized	$	(6,930	)	$	(6,385	)	$	(7,086	)

Components of net periodic benefit cost
Service cost	$	72		$	85		$	85
Interest cost		265			270			269
Amortization of prior service credit		(537	)		(537	)		(673	)
Amortization of accumulated loss		30			99			121
Net periodic benefit cost	$	(170	)	$	(83	)	$	(198	)


Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	537		$	537
Net loss		(83	)		(30	)		(99	)
	$	454		$	507		$	438


Healthcare cost trend rate assumed for next year		6.30	%		6.60	%		6.60	%
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			2037

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

	1% Increase
	201 9		201 8		201 7
Effect on total of service and interest cost	$	-	$	-	$	-
Effect on postretirement benefit obligation		1		1		2

	1% Decrease
	201 9			201 8			201 7
Effect on total of service and interest cost	$	-		$	-		$	-
Effect on postretirement benefit obligation		(1	)		(1	)		(2	)

Schedule of Expected Benefit Payments [Table Text Block]

Fiscal Year	Pension		Other Benefits
2020	$	8,006	$	354
2021		8,011		354
2022		8,134		358
2023		8,978		363
2024		8,373		353
2025-2029		53,635		2,228
	$	95,137	$	4,010

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Note 13 - Debt (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Debt [Table Text Block]

	June 30, 201 9		June 30, 201 8
Short-term and current maturities
Loan and Security Agreement	$	1,765	$	1,688
Other		2,300		1,967
Long-term debt
Loan and Security Agreement, net of current portion		17,541		17,307
Total debt	$	21,606	$	20,962

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

Fiscal Year
2020		4,065
2021		16,746
2022		795
2023		-
2024		-
Thereafter		-
Total	$	21,606

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

12 Months Ended

Jun. 30, 2019

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

	Year Ended June 30, 201 9
	North America		International		Unallocated			Total
Sales 1	$	136,387	$	91,635	$	-		$	228,022
Operating income		9,468		8,043		(6,290	)		11,221
Capital expenditures and software development		3,617		3,610		-			7,227
Depreciation and amortization		5,022		2,316		-			7,338
Current assets 4		41,188		63,205		15,582			119,975
Long-lived assets 5		35,638		14,168		20,306			70,112

	Year Ended June 30, 201 8
	North America		International		Unallocated		Total
Sales 2	$	128,442	$	87,886	$	-	$	216,328
Operating income Capital expenditures and software development		3,426		2,336		-		5,762
Depreciation and amortization		4,923		2,588		-		7,511
Current assets 4		37,546		60,855		14,827		113,228
Long-lived assets 5		37,489		13,010		18,559		69,058

	Year Ended June 30, 201 7
	North America			International			Unallocated			Total
Sales 3	$	124,606		$	82,417		$	-		$	207,023
Restructuring charges		(82	)		(906	)		-			(988	)
Operating loss		6,910			393			(7,450	)		(147	)
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

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

Sales
	Year Ended June 30,
	201 9		201 8		201 7
North America
United States	$	127,359	$	119,226	$	115,562
Canada & Mexico		9,028		9,216		9,044
		136,387		128,442		124,606
International
Brazil		54,324		49,726		45,614
United Kingdom		24,042		25,099		24,954
China		7,370		7,323		6,873
Australia & New Zealand		5,899		5,738		4,976
		91,635		87,886		82,417
Total Sales	$	228,022	$	216,328	$	207,023

Long-lived Assets
	Year Ended June 30,
	201 9		201 8		201 7
North America
United States	$	35,594	$	37,437	$	39,131
Canada & Mexico		44		52		68
		35,638		37,489		39,199
International
Brazil		10,067		8,662		10,111
United Kingdom		2,046		1,876		1,976
China		1,944		2,346		2,426
Australia & New Zealand		111		126		171
		14,168		13,010		14,684

Total Long Lived Assets	$	49,806	$	50,499	$	53,883

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

12 Months Ended

Jun. 30, 2019

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 2017	$	51,818	$	16,685	$	640	$	426		$	0.06
December 2017		52,124		16,076		1,097		(6,521	)		(0.93	)
March 2018		54,834		18,217		2,337		1,637			0.23
June 2018		57,552		18,579		791		825			0.12
	$	216,328	$	69,557	$	4,865	$	(3,633	)	$	(0.52	)
September 2018	$	51,901	$	16,659	$	942	$	584		$	0.08
December 2018		56,532		18,548		2,991		1,926			0.27
March 2019		58,498		19,155		3,045		2,088			0.30
June 2019		61,091		20,579		2,632		1,481			0.22
	$	228,022	$	74,941	$	9,610	$	6,079		$	0.87

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Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Jun. 30, 2019

Financing Receivable, Allowance for Credit Loss [Table Text Block]

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

Year Ended June 30, 2019	$	1,277	$	(91	)	$	(5	)	$	(496	)	$	685
Year Ended June 30, 2018		946		539			(71	)		(137	)		1,277
Year Ended June 30, 2017		887		284			(23	)		(202	)		946

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

Year Ended June 30, 2019	$	4,999	$	1,744	$	-	$	-		$	6,743
Year Ended June 30, 2018		2,922		2,077		-		-			4,999
Year Ended June 30, 2017		5,246		117		1		(2,442	)		2,922

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Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jul. 01, 2019
Accounts Receivable, Credit Loss Expense (Reversal)	$ (100)	$ 500	$ 300
Construction in Progress, Gross	1,900	1,200
Contract with Customer, Asset, after Allowance for Credit Loss, Total	0
Contract with Customer, Liability, Total	300
Accounts Receivable, Allowance for Credit Loss, Ending Balance	700	1,300
Advertising Expense	5,000	5,100	5,200
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax, Total	300	100	200
Undistributed Earnings of Foreign Subsidiaries	67,900
Research and Development Expense, Total	$ 3,700	$ 3,600	$ 3,500
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total	68,378	23,771	32,674
Derivative Asset, Total	$ 0	$ 0
Subsequent Event [Member] \| Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 6,300
Operating Lease, Liability, Total				$ 4,300
Prepaid Expenses and Other Current Assets [Member]
Contract with Customer, Right to Recover Product, Total	100
Accrued Expenses [Member]
Contract with Customer, Refund Liability, Total	$ 200
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	20 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 2 - Significant Accounting Policies - Classification of the Service Cost Compensation and Other Component of NPBC (Details) - Accounting Standards Update 2017-07 [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Cost of Sales [Member]
Net Periodic Pension Cost	$ 710	$ 582	$ 649
Pension net periodic benefit cost (NPBC)	(710)	(582)	(649)
Selling, General and Administrative Expenses [Member]
Net Periodic Pension Cost	220	212	248
Pension net periodic benefit cost (NPBC)	(220)	(212)	(248)
Other Nonoperating Income (Expense) [Member]
Net Periodic Pension Cost	930	794	897
Pension net periodic benefit cost (NPBC)	$ (930)	$ (794)	$ (897)

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Note 3 - Business Acquisition (Details Textual) - Private Software Company [Member] - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2017

Jun. 30, 2010

Business Combination, Consideration Transferred, Total

$ 3,600

$ 1,500

Business Acquisition, Percentage of Voting Interests Acquired

64.00%

36.00%

Payments to Acquire Businesses, Gross

$ 1,800

Business Combination, Consideration Transferred, Liabilities Incurred

$ 1,800

Business Combination, Consideration Transferred, Subsequent Period

3 years

Business Combination, Consideration Transferred, Liabilities Incurred, Discounted

$ 1,600

Business Combination, Operating Profits, Percentage

30.00%

Business Combination, Operating Profits, Term

3 years

Business Combination, Consideration Transferred, Cash Considerations

$ 1,833

Business Combination, Consideration Transferred, Cash Considerations at Discounted Rate

$ 1,555

Business Combination, Consideration Transferred, Discounted Rate

5.00%

Business Combination, Consideration Transferred, Total Cash Considerations Before Noncontrolling Interest Rate

$ 3,388

Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total

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

Jun. 30, 2019

Jun. 30, 2018

Mar. 31, 2017

Goodwill

$ 4,668

Private Software Company [Member]

$ 509

273

243

Deferred software development costs

2,520

Intangible assets

1,220

Goodwill

1,634

Fixed assets

Deferred tax liability

(1,090)

Accounts payable and current liabilities

(80)

Purchase Price (1)

^[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, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Sep. 05, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					500,000
The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	230,033
Share-based Payment Arrangement, Expense	$ 232,000	$ 134,000	$ 223,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 300,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 182 days
The 2012 Stock Incentive Plan [Member] \| Total Unrecognized Compensation Including Portion Relating to Grants Not Expected to Be Awarded [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,700,000
The 2012 Stock Incentive Plan [Member] \| Portion Relating to RSU Grants Not Expected to be Awarded [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,400,000
Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	87,133	70,515	77,285	63,915
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,227	63,607	55,766
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	26,628	52,816	31,503
Share-based Payment Arrangement, Expense	$ 100,000	$ 100,000	$ 200,000
The 2013 ESOP [Member]
Share-based Payment Arrangement, Expense	$ 0	$ 0	$ 0
Share-based Payment Arrangement, 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, Ending Balance	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	3 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
Share-based Payment Arrangement, Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
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
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, Fair Value Assumptions, Expected Volatility Rate, Minimum	40.69%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	46.85%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	2.18%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	2.94%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	2 years
Restricted Stock Units (RSUs) [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance	197,002
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	67,000	62,000	45,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 6.34	$ 7.22	$ 10.86
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	10,800	14,400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 1,300,000	$ 900,000
Minimum [Member] \| Share-based Payment Arrangement, Option [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Minimum [Member] \| Share-based Payment Arrangement, Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
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
Maximum [Member] \| Share-based Payment Arrangement, Option [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Maximum [Member] \| Share-based Payment Arrangement, Option [Member] \| Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.73%
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

XML 62 R49.htm IDEA: XBRL DOCUMENT

Note 4 - Stock-based Compensation - Summary of Stock Option Activity (Details) - Employee Stock Purchase Plan ESPP [Member] - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Balance (in shares)	70,515	77,285	63,915
Balance, Weighted Average Exercise Price (in dollars per share)
Options granted (in shares)	55,227	63,607	55,766
Options granted, Weighted Average Exercise Price (in dollars per share)	$ 5.45	$ 6.35	$ 7.88
Shares Available for Grant, Options Granted (in shares)	(55,227)	(63,607)	(55,766)
Options exercised (in shares)	(11,981)	(17,561)	(10,893)
Options exercised, Weighted Average Exercise Price (in dollars per share)	$ 5.72	$ 6.69	$ 8.34
Options canceled (in shares)	(26,628)	(52,816)	(31,503)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	26,628	52,816	31,503
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,227	63,607	55,766
Balance (in shares)	87,133	70,515	77,285
Balance , Weighted Average Exercise Price (in dollars per share)
Shares Available For Grant [Member]
Shares Available for Grant (in shares)	450,007	365,581	389,844
Options granted (in shares)	55,227	63,607	55,766
Shares Available for Grant, Options Granted (in shares)	(55,227)	(63,607)	(55,766)
Options canceled (in shares)	(18,087)	(13,614)	(31,503)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	18,087	13,614	31,503
Shares Available for Grant, Plan Expired (in shares)		(365,581)
Shares Available for Grant, Plan Authorized (in shares)		500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	55,227	63,607	55,766
Shares Available for Grant (in shares)	412,867	450,007	365,581

XML 63 R50.htm IDEA: XBRL DOCUMENT

Note 4 - Stock-based Compensation - Stock Options Outstanding Weighted Average Fair Value (Details) - Employee Stock Purchase Plan ESPP [Member] - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2017
Weighted average remaining life (years) (Year)	1 year 109 days
2017 (in dollars per share)	$ 2.23	$ 2.28	$ 2.76

XML 64 R51.htm IDEA: XBRL DOCUMENT

Note 5 - Cash (Details Textual) £ in Millions, R$ in Millions, $ in Millions	Jun. 30, 2019 USD ($)	Jun. 30, 2019 GBP (£)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 BRL (R$)
Cash, Cash Equivalents, and Short-term Investments, Total	$ 8.9	£ 4.6	$ 6.5	R$ 2.6

XML 65 R52.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
LIFO Inventory Amount	$ 9.8	$ 8.4
Inventory Difference Using FIFO Basis	23.3	24.9
Cost of Sales [Member]
Inventory, LIFO Reserve, Effect on Income, Net, Total	$ (1.6)	$ (1.3)

XML 66 R53.htm IDEA: XBRL DOCUMENT

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Raw materials and supplies	$ 26,106	$ 23,764
Goods in process and finished parts	17,464	18,423
Finished goods	41,500	40,739
Total, before LIFO Reserve	85,070	82,926
LIFO reserve	(23,280)	(24,887)
Total	$ 61,790	$ 58,039

XML 67 R54.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Amortization of Intangible Assets, Total	$ 2,300	$ 2,000	$ 1,700
Goodwill, Impairment Loss	$ 0

XML 68 R55.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Goodwill	$ 4,668	$ 4,668
Goodwill	4,668	4,668
Identifiable intangible assets	19,885	18,533
Accumulated Amortization	(11,425)	(9,216)
Identifiable intangible assets	$ 8,460	$ 9,317

XML 69 R56.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Intangible assets, gross	$ 19,885	$ 18,533
Accumulated amortization	(11,425)	(9,216)
Total net balance	8,460	9,317
Noncompete Agreements [Member]
Intangible assets, gross	600	600
Trademarks and Trade Names [Member]
Intangible assets, gross	2,070	2,070
Completed Technology [Member]
Intangible assets, gross	2,358	2,358
Customer Relationships [Member]
Intangible assets, gross	5,580	5,580
Software Developement [Member]
Intangible assets, gross	8,952	7,600
Other Intangible Assets [Member]
Intangible assets, gross	$ 325	$ 325

XML 70 R57.htm IDEA: XBRL DOCUMENT

Note 7 - Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details) $ in Thousands	Jun. 30, 2019 USD ($)
2020	$ 2,005
2021	1,602
2022	1,370
2023	1,016
2024	628
Thereafter	1,839
	$ 8,460

XML 71 R58.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equity (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Capital Leased Assets, Gross, Total	$ 0	$ 0
Depreciation, Total	5,047	5,462	$ 5,368
Operating Leases, Rent Expense, Net, Total	$ 2,400	$ 2,300	$ 2,300

XML 72 R59.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Cost	$ 163,368	$ 163,323
Accumulated Depreciation	(126,689)	(126,809)
Property, Plant and Equipment, Net, Ending Balance	36,679	36,514
Land [Member]
Cost	1,210	1,210
Accumulated Depreciation
Property, Plant and Equipment, Net, Ending Balance	1,210	1,210
Building and Building Improvements [Member]
Cost	44,772	44,540
Accumulated Depreciation	(30,427)	(29,774)
Property, Plant and Equipment, Net, Ending Balance	14,345	14,766
Machinery and Equipment [Member]
Cost	117,386	117,573
Accumulated Depreciation	(96,262)	(97,035)
Property, Plant and Equipment, Net, Ending Balance	$ 21,124	$ 20,538

XML 73 R60.htm IDEA: XBRL DOCUMENT

Note 8 - Property, Plant and Equipment - Future Commitments Under Operating Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
2020	$ 2,434
2021	2,328
2022	943
2023	762
2024	502
Thereafter	1,092
	$ 8,061

XML 74 R61.htm IDEA: XBRL DOCUMENT

Note 9 - Facility Closure (Details Textual) - USD ($)	12 Months Ended
Note 9 - Facility Closure (Details Textual) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment, Net, Ending Balance	$ 36,679,000	$ 36,514,000
Restructuring Charges, Total			$ 988,000
Vacated Facility at Mt. Airy, North Carolina [Member]
Impairment of Long-Lived Assets to be Disposed of				$ 4,100,000
Property, Plant and Equipment, Net, Ending Balance	$ 2,200,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal		$ 100,000

XML 75 R62.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, 2019	Jun. 30, 2018	Jun. 30, 2017
Interest income	$ 71	$ 128	$ 399
Interest expense	(976)	(845)	(674)
Foreign currency gain (loss), net	(426)	(316)	(86)
(Loss) from equity investment			(307)
Brazil tax settlements	345	1,446
Patent lawsuit settlement		(666)	(100)
Sale of scrap material	110	70	71
Other income (expense), net	195	324	190
	(1,611)	(653)	(1,404)
Pension [Member]
Pension net periodic benefit cost (NPBC)	$ (930)	$ (794)	$ (897)

XML 76 R63.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent										21.00%	35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability										$ 6,300
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Income Tax Credit									$ (1,800)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment									$ 0
Additional Tax Rate On Foreign Income									10.50%
Effective Income Tax Rate Reconciliation, Percent, Total									36.70%	174.70%	35.60%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 2,632	$ 3,045	$ 2,991	$ 942	$ 791	$ 2,337	$ 1,097	$ 640	$ 9,610	$ 4,865	$ 1,538
Effective Income Tax Rate Reconciliation, Before Tax Cuts and Jobs Act, Percent										44.70%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount									(129)	$ 6,324	315
Proceeds from Equity Method Investment, Distribution											2,000
Deferred Tax Assets, Gross, Total	18,600								18,600
Deferred Tax Assets, Net of Valuation Allowance, Total	22,400								22,400
Deferred Tax Assets, Valuation Allowance, Total	6,743				4,999				6,743	4,999
Unrecognized Tax Benefits, Ending Balance	10,939				10,882				10,939	10,882	11,588	$ 10,820
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	5,600				5,400				5,600	5,400	7,300
Income Taxes Receivable, Noncurrent	1,666				$ 1,820				1,666	1,820
Undistributed Earnings of Foreign Subsidiaries	67,900								67,900
Foreign Earnings Repatriated											$ 2,000
Research Tax Credit Carryforward [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	800								800
Foreign Tax Authority [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount									1,700	$ 2,100
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	300								300
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	7,300								7,300
Domestic Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	300								300
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	1,200								1,200
State and Local Jurisdiction [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$ 400								$ 400
Her Majesty's Revenue and Customs (HMRC) [Member]
Effective Income Tax Rate Reconciliation, Percent, Total											17.00%	20.00%

XML 77 R64.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, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 2,632	$ 3,045	$ 2,991	$ 942	$ 791	$ 2,337	$ 1,097	$ 640	$ 9,610	$ 4,865	$ 1,538
Domestic Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									1,507	1,351	(1,547)
Foreign Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									$ 8,103	$ 3,514	$ 3,085

XML 78 R65.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Provision (Benefit) For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Current:
Federal	$ (106)	$ (991)	$ (989)
Foreign	2,398	2,256	999
State	37	5	39
Deferred:
Federal	1,139	6,772	597
Foreign	(172)	(396)	(85)
State	235	852	(14)
	$ 3,531	$ 8,498	$ 547

XML 79 R66.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, 2019	Jun. 30, 2018	Jun. 30, 2017
Expected tax expense	$ 2,018	$ 1,365	$ 523
State taxes, net of federal effect	(5)		9
Foreign taxes, net of federal credits	(1,055)	(1,010)	(210)
Change in valuation allowance	1,744	2,074	(107)
Tax reserve adjustments	(66)	(38)	272
Return to provision and other adjustments	(57)	(72)	(17)
Losses not benefited			123
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	(129)	6,324	315
Canada real estate gain deduction			(337)
Global intangible low taxed income	1,121
Other permanent items	(40)	(145)	(24)
Actual tax expense	$ 3,531	$ 8,498	$ 547

XML 80 R67.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Deferred Income Taxes (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Deferred tax assets (liabilities):
Inventories	$ 1,361	$ 1,214
Employee benefits (other than pension)	840	700
Book reserves	601	504
Federal NOL, various carryforward periods	66	551
State NOL, various carryforward periods	1,224	1,034
Foreign NOL, various carryforward periods	309	148
Foreign tax credit carryforward, expiring 2023 – 2028	7,329	5,563
Pension benefits	10,289	8,881
Retiree medical benefits	1,778	1,622
Depreciation	(17)	(113)
Depreciation	17	113
Intangibles	(630)	(410)
Federal research and development and AMT credit carryforward	786	638
Other	1,446	1,180
Total deferred tax assets	25,382	21,738
Valuation allowance	(6,743)	(4,999)
Net deferred tax asset	$ 18,639	$ 16,739

XML 81 R68.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Reconciliations of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Balance at June 30	$ (10,882)	$ (11,588)	$ (10,820)
Increase for tax positions taken during the current period	(215)	(287)	(813)
Effect of exchange rate changes	16	130	38
Decrease relating to lapse of applicable statute of limitations	137	930	7
Increase for tax positions taken during the prior period		(67)
Decrease for tax positions taken during the prior period	5
Balance at June 30	$ (10,939)	$ (10,882)	$ (11,588)

XML 82 R69.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans (Details Textual) - USD ($)			12 Months Ended
	Dec. 31, 2016	Dec. 31, 2013	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2017
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment						$ (6,900,000)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.77%						4.31%
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	$ 4,200,000
Pension Cost (Reversal of Cost)				$ 2,800,000	$ 2,700,000	3,900,000
Defined Contribution Plan, Employer Discretionary Contribution Amount				1,700,000	1,800,000	$ 1,300,000
Fair Value of the Company's Common Stock				$ 4,600,000	$ 4,800,000
US Domestic Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				3.56%	4.27%	3.92%
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment						$ 4,170,000
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets				5.00%	5.00%	5.00%
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year				$ 6,700,000
US Domestic Plan [Member] \| Forecast [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets			5.00%
UK Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				2.39%	2.70%	2.73%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets				2.98%	3.01%	3.59%
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year				$ 1,000,000
UK Plan [Member] \| Forecast [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets			2.60%
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 83 R70.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, 2019	Jun. 30, 2018
Asset allocation	100.00%	100.00%
Cash and Cash Equivalents [Member]
Asset allocation	2.00%	1.00%
Fixed Income Securities [Member]
Asset allocation	31.00%	27.00%
Equity Securities [Member]
Asset allocation	35.00%	34.00%
Mutual and Pooled Funds [Member]
Asset allocation	32.00%	38.00%

XML 84 R71.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Portfolio by Valuation Category (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Fair Value	$ 122,033	$ 118,693
Asset Allocation	100.00%	100.00%
Fair Value, Inputs, Level 1 [Member]
Fair Value	$ 45,809	$ 48,813
Fair Value, Inputs, Level 2 [Member]
Fair Value	76,224	69,880
Fair Value, Inputs, Level 3 [Member]
Fair Value
Cash Equivalents [Member]
Fair Value	$ 1,818	$ 945
Asset Allocation	2.00%	1.00%
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	$ 1,818	$ 945
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]
Fair Value	$ 38,232	$ 32,303
Asset Allocation	31.00%	27.00%
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	38,232	32,303
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value
Equity Securities [Member]
Fair Value	$ 43,111	$ 40,509
Asset Allocation	35.00%	34.00%
Equity Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	$ 41,629	$ 38,988
Equity Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	1,482	1,521
Equity Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value
Mutual and Pooled Funds [Member]
Fair Value	$ 38,872	$ 44,936
Asset Allocation	32.00%	38.00%
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value	$ 2,362	$ 8,880
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value	36,510	36,056
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value

XML 85 R72.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans - Status of Defined Benefit Plans (Details) - USD ($)		12 Months Ended
	Dec. 31, 2016	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2017
Plan curtailment	$ (4,200,000)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Plan curtailment	$ (4,200,000)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.77%							4.31%
US and UK Plans Combined [Member]
Benefit obligation at beginning of year		$ 159,213,000	$ 169,696,000	$ 175,233,000
Service cost				1,405,000
Interest cost		6,013,000	6,077,000	6,246,000
Plan curtailment				(4,170,000)
Exchange rate changes		(1,697,000)	707,000	(909,000)
Benefits paid		(7,217,000)	(6,489,000)	(6,902,000)
Actuarial (gain) loss		13,368,000	(10,778,000)	(1,207,000)
Benefit obligation at end of year		169,680,000	159,213,000	169,696,000
Actual return on plan assets		6,589,000	2,545,000	5,302,000
Employer contributions		5,413,000	4,366,000	5,000,000
Benefits paid		(7,217,000)	(6,489,000)	(6,902,000)
Exchange rate changes		(1,445,000)	493,000	(637,000)
Funded status at end of year					$ (47,647,000)	$ (40,520,000)	$ (51,918,000)
Amounts recognized in balance sheet
Current liability					(324,000)	(67,000)	(63,000)
Noncurrent liability					(47,323,000)	(40,453,000)	(51,855,000)
Net amount recognized in balance sheet					(47,647,000)	(40,520,000)	(51,918,000)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost
Accumulated loss					(15,590,000)	(4,038,000)	(12,131,000)
Amounts not yet recognized as a component of net periodic benefit cost					(15,590,000)	(4,038,000)	(12,131,000)
Accumulated net periodic benefit cost in excess of contributions					(32,057,000)	(36,482,000)	(39,787,000)
Net amount recognized in balance sheet					(47,647,000)	(40,520,000)	(51,918,000)
Service cost				1,405,000
Interest cost		6,013,000	6,077,000	6,246,000
Expected return on plan assets		(5,129,000)	(5,140,000)	(5,173,000)
Recognized actuarial loss		284,000	26,000	107,000
Net periodic benefit cost		1,168,000	963,000	2,585,000
Prior service cost
Net loss					(38,000)	(28,000)	(26,000)
Projected benefit obligation					169,680,000	159,213,000	169,696,000
Accumulated benefit obligation					169,680,000	159,213,000	169,696,000
Fair value of assets					122,033,000	118,693,000	117,778,000
Benefit obligation at beginning of year		159,213,000	169,696,000	175,233,000
Plan curtailment				(4,170,000)
Benefits paid		(7,217,000)	(6,489,000)	(6,902,000)
Actuarial (gain) loss		13,368,000	(10,778,000)	(1,207,000)
Benefit obligation at end of year		169,680,000	159,213,000	169,696,000
Actual return on plan assets		6,589,000	2,545,000	5,302,000
Employer contributions		5,413,000	4,366,000	5,000,000
Benefits paid		(7,217,000)	(6,489,000)	(6,902,000)
Funded status at end of year					(47,647,000)	(40,520,000)	(51,918,000)
Current liability					(324,000)	(67,000)	(63,000)
Noncurrent liability					(47,323,000)	(40,453,000)	(51,855,000)
Exchange rate changes		(1,697,000)	707,000	(909,000)
Benefits paid		(7,217,000)	(6,489,000)	(6,902,000)
Exchange rate changes		(1,445,000)	493,000	(637,000)
US and UK Plans Combined [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year		118,693,000	117,778,000	115,015,000
Fair value of plan assets at end of year		122,033,000	118,693,000	117,778,000
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Fair value of plan assets at beginning of year		118,693,000	117,778,000	115,015,000
Fair value of plan assets at end of year		118,693,000	118,693,000	117,778,000	122,033,000	118,693,000	117,778,000
Fair value of plan assets at end of year		122,033,000	118,693,000	117,778,000
US Domestic Plan [Member]
Benefit obligation at beginning of year		116,277,000	124,138,000	130,863,000
Service cost				1,405,000
Interest cost		4,854,000	4,804,000	4,994,000
Plan curtailment				(4,170,000)
Benefits paid		(5,565,000)	(4,786,000)	(5,106,000)
Actuarial (gain) loss		10,814,000	(7,879,000)	(3,848,000)
Benefit obligation at end of year		126,380,000	116,277,000	124,138,000
Actual return on plan assets		4,132,000	1,645,000	1,079,000
Employer contributions		4,443,000	3,353,000	4,045,000
Benefits paid		(5,565,000)	(4,786,000)	(5,106,000)
Funded status at end of year					(41,230,000)	(34,137,000)	(42,210,000)
Amounts recognized in balance sheet
Current liability					(324,000)	(67,000)	(63,000)
Noncurrent liability					(40,906,000)	(34,070,000)	(42,147,000)
Net amount recognized in balance sheet					(41,230,000)	(34,137,000)	(42,210,000)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Prior service cost
Accumulated loss					(13,196,000)	(2,731,000)	(8,254,000)
Amounts not yet recognized as a component of net periodic benefit cost					(13,196,000)	(2,731,000)	(8,254,000)
Accumulated net periodic benefit cost in excess of contributions					(28,034,000)	(31,406,000)	(33,956,000)
Net amount recognized in balance sheet					(41,230,000)	(34,137,000)	(42,210,000)
Service cost				1,405,000
Interest cost		4,854,000	4,804,000	4,994,000
Expected return on plan assets		(4,067,000)	(4,026,000)	(4,046,000)
Recognized actuarial loss		284,000	26,000	107,000
Net periodic benefit cost		1,071,000	804,000	2,460,000
Prior service cost
Net loss					(38,000)	(28,000)	(26,000)
Projected benefit obligation					126,380,000	116,277,000	124,138,000
Fair value of assets					$ 85,150,000	$ 82,140,000	$ 81,928,000
Benefit obligation at beginning of year		116,277,000	124,138,000	130,863,000
Plan curtailment				(4,170,000)
Benefits paid		(5,565,000)	(4,786,000)	(5,106,000)
Actuarial (gain) loss		10,814,000	(7,879,000)	(3,848,000)
Benefit obligation at end of year		126,380,000	116,277,000	124,138,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate					3.56%	4.27%	3.92%
Actual return on plan assets		4,132,000	1,645,000	1,079,000
Employer contributions		4,443,000	3,353,000	4,045,000
Benefits paid		$ (5,565,000)	$ (4,786,000)	$ (5,106,000)
Funded status at end of year					$ (41,230,000)	$ (34,137,000)	$ (42,210,000)
Current liability					(324,000)	(67,000)	(63,000)
Noncurrent liability					(40,906,000)	(34,070,000)	(42,147,000)
Discount rate		4.27%	3.92%	3.77%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		5.00%	5.00%	5.00%
Accumulated benefit obligation					126,380,000	116,277,000	124,138,000
Benefits paid		$ (5,565,000)	$ (4,786,000)	$ (5,106,000)
US Domestic Plan [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year		82,140,000	81,928,000	81,910,000
Fair value of plan assets at end of year		85,150,000	82,140,000	81,928,000
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Fair value of plan assets at beginning of year		82,140,000	81,928,000	81,910,000
Fair value of plan assets at end of year		82,140,000	82,140,000	81,928,000	85,150,000	82,140,000	81,928,000
Fair value of plan assets at end of year		85,150,000	82,140,000	81,928,000
UK Plan [Member]
Benefit obligation at beginning of year		42,936,000	45,558,000	44,370,000
Service cost
Interest cost		1,159,000	1,273,000	1,252,000
Exchange rate changes		(1,697,000)	707,000	(909,000)
Benefits paid		(1,652,000)	(1,703,000)	(1,796,000)
Actuarial (gain) loss		2,554,000	(2,899,000)	2,641,000
Benefit obligation at end of year		43,300,000	42,936,000	45,558,000
Actual return on plan assets		2,457,000	900,000	4,223,000
Employer contributions		970,000	1,013,000	954,000
Benefits paid		(1,652,000)	(1,703,000)	(1,796,000)
Exchange rate changes		(1,445,000)	493,000	(636,000)
Funded status at end of year					(6,417,000)	(6,383,000)	(9,708,000)
Amounts recognized in balance sheet
Noncurrent liability					(6,417,000)	(6,383,000)	(9,708,000)
Net amount recognized in balance sheet					(6,417,000)	(6,383,000)	(9,708,000)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss					(2,394,000)	(1,307,000)	(3,877,000)
Amounts not yet recognized as a component of net periodic benefit cost					(2,394,000)	(1,307,000)	(3,877,000)
Net amount recognized in balance sheet					(6,417,000)	(6,383,000)	(9,708,000)
Service cost
Interest cost		1,159,000	1,273,000	1,252,000
Expected return on plan assets		(1,062,000)	(1,114,000)	(1,127,000)
Net periodic benefit cost		97,000	159,000	125,000
Projected benefit obligation					43,300,000	42,936,000	45,558,000
Fair value of assets					$ 36,883,000	$ 36,553,000	$ 35,850,000
Benefit obligation at beginning of year		42,936,000	45,558,000	44,370,000
Benefits paid		(1,652,000)	(1,703,000)	(1,796,000)
Actuarial (gain) loss		2,554,000	(2,899,000)	2,641,000
Benefit obligation at end of year		43,300,000	42,936,000	45,558,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate					2.39%	2.70%	2.73%
Actual return on plan assets		2,457,000	900,000	4,223,000
Employer contributions		970,000	1,013,000	954,000
Benefits paid		$ (1,652,000)	$ (1,703,000)	$ (1,796,000)
Funded status at end of year					$ (6,417,000)	$ (6,383,000)	$ (9,708,000)
Noncurrent liability					(6,417,000)	(6,383,000)	(9,708,000)
Discount rate		2.80%	2.73%	3.00%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		2.98%	3.01%	3.59%
Accumulated benefit obligation					43,300,000	42,936,000	45,558,000
Exchange rate changes		$ (1,697,000)	$ 707,000	$ (909,000)
Benefits paid		(1,652,000)	(1,703,000)	(1,796,000)
Exchange rate changes		(1,445,000)	493,000	(636,000)
Prior service cost
Accumulated net periodic benefit cost in excess of contributions					(4,023,000)	(5,076,000)	(5,831,000)
Amortization of net loss
UK Plan [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year		36,553,000	35,850,000
Fair value of plan assets at end of year		36,883,000	36,553,000	35,850,000
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Fair value of plan assets at beginning of year		36,553,000	35,850,000
Fair value of plan assets at end of year		36,883,000	36,553,000	35,850,000	$ 36,883,000	36,553,000	35,850,000
Fair value of plan assets at end of year		36,883,000	36,553,000	35,850,000
UK Plan [Member] \| Debt Security, Corporate, US [Member]
Fair value of plan assets at beginning of year		36,553,000	35,850,000	33,105,000
Fair value of plan assets at end of year			36,553,000	35,850,000
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Fair value of plan assets at beginning of year		36,553,000	35,850,000	33,105,000
Fair value of plan assets at end of year		$ 36,553,000	36,553,000	35,850,000		$ 36,553,000	$ 35,850,000
Fair value of plan assets at end of year			$ 36,553,000	$ 35,850,000

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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, 2019	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2017	Dec. 31, 2016
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate				4.31%	3.77%
Fair value of plan assets at beginning of year	$ 118,693
Fair value of plan assets at end of year	122,033	$ 118,693
U.S. Post Retirement Medical and Life Insurance Plan [Member]
Benefit obligation at beginning of year	6,385	7,086	$ 7,381
Service cost	72	85	85
Interest cost	265	270	269
Benefits paid	(346)	(388)	(483)
Actuarial (gain) loss	554	(668)	(166)
Benefit obligation at end of year	$ 6,930	$ 6,385	$ 7,086
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.56%	4.27%	3.92%
Rate of compensation increase	2.64%	2.64%	2.64%
Fair value of plan assets at beginning of year
Employer contributions	346	388	483
Benefits paid	(346)	(388)	(483)
Fair value of plan assets at end of year
Current liability	(353)	(339)	(370)
Noncurrent liability	(6,577)	(6,046)	(6,716)
Net amount recognized in balance sheet	$ (6,930)	$ (6,385)	$ (7,086)
Discount rate	4.27%	3.92%	3.77%
Rate of compensation increase	2.64%	2.64%	2.64%
Prior service cost	$ 2,777	$ 3,314	$ 3,851
Accumulated loss	(1,452)	(928)	(1,696)
Amounts not yet recognized as a component of net periodic benefit cost	1,325	2,386	2,155
Accumulated net periodic benefit cost in excess of contributions	(8,255)	(8,771)	(9,241)
Prior service cost	(537)	(537)	(673)
Amortization of accumulated loss	30	99	121
Net periodic benefit cost	(170)	(83)	(198)
Prior service cost	537	537	537
Net loss	(83)	(30)	(99)
	$ 454	$ 507	$ 438
Healthcare cost trend rate assumed for next year	6.30%	6.60%	6.60%
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	2037

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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, 2019	Jun. 30, 2018	Jun. 30, 2017
Effect on total of service and interest cost
Effect on postretirement benefit obligation	1	1	2
Effect on total of service and interest cost
Effect on postretirement benefit obligation	$ (1)	$ (1)	$ (2)

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Note 12 - Employee Benefit and Retirement Plans - Future Pension and Other Benefits Payments (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Pension Plan [Member]
2020	$ 8,006
2021	8,011
2022	8,134
2023	8,978
2024	8,373
2025-2029	53,635
	95,137
Other Benefits [Member]
2020	354
2021	354
2022	358
2023	363
2024	353
2025-2029	2,228
	$ 4,010

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Note 13 - Debt (Details Textual)				1 Months Ended		12 Months Ended
Note 13 - Debt (Details Textual)	Jan. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Nov. 22, 2011 USD ($)	Apr. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Jun. 30, 2019 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity	$ 23,000,000
Line of Credit Facility, Interest Rate During Period						4.08%
Minimum Consolidated Cash and Liquid Investments Pursuant to New Loan and Security Agreement	$ 10,000,000
Long-term Line of Credit, Total						$ 14,900,000
Line of Credit Facility, Commitment Fee Percentage						0.25%
Line of Credit Facility, Current Borrowing Capacity						$ 22,100,000
Line of Credit Facility, Remaining Borrowing Capacity						7,200,000
Notes Payable to Banks [Member] \| Santander Bank and Bradesco Bank [Member]
Debt Instrument, Face Amount		$ 3,500,000
Short-term Debt, Total						2,300,000
Notes Payable to Banks [Member] \| Santander Bank [Member]
Debt Instrument, Face Amount		$ 1,500,000
Debt Instrument, Term		180 days
Debt Instrument, Interest Rate, Stated Percentage		4.19%			5.30%
Short-term Debt, Total					$ 800,000
Notes Payable to Banks [Member] \| Bradesco Bank [Member]
Debt Instrument, Face Amount		$ 2,000,000
Debt Instrument, Term		360 years
Debt Instrument, Interest Rate, Stated Percentage		4.75%		4.00%	4.27%
Short-term Debt, Refinanced, Amount				$ 1,000,000	$ 1,300,000
Short-term Debt, Total					$ 500,000
Standby Letters of Credit [Member]
Long-term Line of Credit, Total						900,000
Line of Credit [Member]
Debt Instrument, Unused Borrowing Capacity, Amount						500,000
Term Loan [Member]
Debt Instrument, Face Amount			$ 15,500,000
Debt Instrument, Term			10 years
Debt Instrument, Interest Rate, Stated Percentage			4.50%
Debt Instrument, Periodic Payment, Total			$ 160,640
Long-term Line of Credit, Total						$ 4,400,000
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%

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Note 13 - Debt - Debt Schedule (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Loan and Security Agreement	$ 1,765	$ 1,688
Other	2,300	1,967
Loan and Security Agreement, net of current portion	17,541	17,307
Total debt	$ 21,606	$ 20,962

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Note 13 - Debt - Future Maturities of Debt (Details) $ in Thousands	Jun. 30, 2019 USD ($)
2020	$ 4,065
2021	16,746
2022	795
2023
2024
Thereafter
Total	$ 21,606

XML 92 R79.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, 2019

USD ($)

Mar. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Sep. 30, 2018

USD ($)

Jun. 30, 2018

USD ($)

Mar. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2018

USD ($)

Jun. 30, 2017

USD ($)

Number of Reportable Segments

North American Segment [Member]

$ 61,091

$ 58,498

$ 56,532

$ 51,901

$ 57,552

$ 54,834

$ 52,124

$ 51,818

$ 228,022

^[1]

$ 216,328

^[2]

$ 207,023

^[3]

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

136,387

^[1]

128,442

^[2]

124,606

^[3]

International Segment [Member]

(4,879)

(6,468)

(7,902)

International Segment [Member] | Intersegment Eliminations [Member]

91,635

^[1]

87,886

^[2]

82,417

^[3]

$ (16,187)

$ (14,239)

$ (11,677)

[1]	Excludes $4,879 of North American segment intercompany sales to the International segment and $16,187 intercompany sales of the International segment to the North American segment.
[2]	Excludes $6,468 of North American segment intercompany sales to the International segment and $14,239 intercompany sales of the International segment to the North American segment.
[3]	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.

XML 93 R80.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, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2017

$ 61,091,000

$ 58,498,000

$ 56,532,000

$ 51,901,000

$ 57,552,000

$ 54,834,000

$ 52,124,000

$ 51,818,000

$ 228,022,000

^[1]

$ 216,328,000

^[2]

$ 207,023,000

^[3]

11,221,000

5,518,000

(147,000)

7,227,000

5,762,000

5,836,000

7,338,000

7,511,000

7,026,000

^[4]

119,975,000

113,228,000

119,975,000

113,228,000

110,123,000

^[5]

70,112,000

69,058,000

70,112,000

69,058,000

82,542,000

North American Segment [Member]

(988,000)

136,387,000

^[1]

128,442,000

^[2]

124,606,000

^[3]

9,468,000

6,910,000

3,617,000

3,426,000

2,765,000

5,022,000

4,923,000

4,551,000

^[4]

41,188,000

37,546,000

41,188,000

37,546,000

33,555,000

^[5]

35,638,000

37,489,000

35,638,000

37,489,000

39,199,000

International Segment [Member]

(82,000)

91,635,000

^[1]

87,886,000

^[2]

82,417,000

^[3]

8,043,000

393,000

3,610,000

2,336,000

3,071,000

2,316,000

2,588,000

2,475,000

^[4]

63,205,000

60,855,000

63,205,000

60,855,000

61,961,000

^[5]

14,168,000

13,010,000

14,168,000

13,010,000

14,684,000

(906,000)

Unallocated [Member]

^[1]

^[2]

^[3]

(6,290,000)

(7,450,000)

^[4]

15,582,000

14,827,000

15,582,000

14,827,000

14,607,000

^[5]

$ 20,306,000

$ 18,559,000

$ 20,306,000

$ 18,559,000

28,659,000

[1]	Excludes $4,879 of North American segment intercompany sales to the International segment and $16,187 intercompany sales of the International segment to the North American segment.
[2]	Excludes $6,468 of North American segment intercompany sales to the International segment and $14,239 intercompany sales of the International segment to the North American segment.
[3]	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.
[4]	Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets not allocated to the segments include cash and cash equivalents.
[5]	Long lived assets consist of property, plant and equipment, net taxes receivable, deferred tax assets, net intangible assets and goodwill.

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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, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2017

$ 61,091

$ 58,498

$ 56,532

$ 51,901

$ 57,552

$ 54,834

$ 52,124

$ 51,818

$ 228,022

^[1]

$ 216,328

^[2]

$ 207,023

^[3]

49,806

50,499

49,806

50,499

53,883

UNITED STATES

127,359

119,226

115,562

North America Other than US [Member]

35,594

37,437

35,594

37,437

39,131

9,028

9,216

9,044

North America [Member]

136,387

128,442

124,606

35,638

37,489

35,638

37,489

39,199

BRAZIL

54,324

49,726

45,614

10,067

8,662

10,067

8,662

10,111

UNITED KINGDOM

24,042

25,099

24,954

2,046

1,876

2,046

1,876

1,976

CHINA

7,370

7,323

6,873

Australia and New Zealand [Member]

1,944

2,346

1,944

2,346

2,426

5,899

5,738

4,976

111

126

111

126

171

International [Member]

91,635

87,886

82,417