scx20200630_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.

Cash:

Cash held by foreign subsidiaries amounted to

million in U.S. dollar equivalents was held in British Pounds Sterling and

million in U.S. dollar equivalents was held in Brazilian Reals. Of the

million in U.S. dollar equivalents was held in British Pounds Sterling and

balance,

$4.6

$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

available for use in the U.S. without the likely incurrence of U.S. federal and state income and withholding tax consequences.

Financial instruments and derivatives

: The Company's financial instruments include cash, accounts receivable, accounts payable, accrued expenses 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

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

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-

-out “LIFO” method. All non-U.S. subsidiaries use the

-in-

-out “FIFO” method or the average cost method. LIFO is

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. The construction in progress balances in buildings, building improvements and machinery and equipment at

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

Leases:

The Company adopted Accounting Standards Codification

months. Minimum lease payments include only the fixed lease component of the agreement.

Although currently the Company's Finance Leases are considered di minimis, leases are capitalized under the criteria set forth in Accounting Standards Codification (ASC)

842,

“Leases”.

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. Goodwill impairment analysis fair values are calculated on a discounted cash flow basis.

During the

fourth

quarter, as a result of the COVID-

pandemic which was considered to be a triggering event, at the private software company and Bytewise, due to its negative impact on the Company's revenue the Company performed the intangible assets impairment assessment by running a quantitative analyses on an undiscounted basis for the long-lived assets, including intangible assets of Bytewise and the private software company, respectively. As a result of this analysis, the Company concluded that the private software company's intangible assets were impaired

million. It was determined that there was

impairment of long-lived assets or intangibles at the Bytewise reporting unit.

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. The Company recorded an impairment charge of

“Goodwill and Intangibles” to the Consolidated Financial Statements for impairment charges.

million in fiscal year

Goodwill

: Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is

subject to amortization but is tested for impairment annually and at any time when events suggest impairment

have occurred. The Company annually tests the goodwill of

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.

The Company contracted with a professional valuation firm “the firm” to perform a quantitative analysis (commonly referred to as “Step One”) for its

February 1, 2020

annual assessment of goodwill associated with its purchase of a private software company. The firm assisted the Company in estimating 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. During the

March

quarter fiscal year

it determined the fair value assessment of the software development company's goodwill exceeded the carrying amount.

The Company performed a qualitative analysis of its Bytewise reporting unit for its

October 1, 2019

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

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

limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and changes in management or key personnel.

the Company, considering the COVID-

pandemic a triggering event at the private software company and Bytewise due to lower sales, tested the Goodwill at both reporting units and concluded that the fair value, on a discounted cash flow basis, was less than the carrying value and took a goodwill impairment charge of

$3.7

million. See Note

“Goodwill and Intangibles” to the Consolidated Financial Statements for impairment charges.

Revenue recognition

: On

July 1, 2018,

the Company adopted ASC Topic

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

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

Consolidated Balance Sheet, the Company made

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

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

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

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

-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

Purchase orders are of durations less than

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

and does

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

year or less, for which work has

The Company's primary source of revenue is derived from the manufacture and distribution of metrology tools and equipment and saw blades and related products sold to distributors. The Company recognizes revenue for sales to our customers when transfer of control of the related good or service has occurred. Any of the Company's revenue

yet been performed.

Performance Obligations

recognized under the point in time approach for the year ended

was determined to be immaterial. 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

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

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

The Company's typical payment terms vary based on the customer, geographic region, and the type of goods and services in the contract or purchase order. The period of time between invoicing and when payment is due is typically

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

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

assess whether a contract has a significant financing component.

The Company's customers take delivery of goods, and they are recognized as revenue at the time of transfer of control to the customer, which is usually at the time of shipment, unless otherwise specified in the customer contract or purchase order. This determination is based on applicable shipping terms, as well as the consideration of other indicators, including timing of when the Company has a present right to payment, when physical possession of products is transferred to customers, when the customer has the significant risks and rewards of ownership of the asset, and any provisions in contracts regarding customer acceptance.

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

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

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.

18B

With the adoption of ASC Topic

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

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

the balances of the return asset were

million and the balance of the refund liability were

$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

sell extended warranties.

Contract Balances

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

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

yet been met, and therefore, revenue has

been recognized. The Company had

contract asset balances, but had contract liability balances of

Allowance for doubtful accounts

: The allowance for doubtful accounts of

compared to

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

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:

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

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

incurred significant warranty expense and consequently its warranty reserves are

Pension and Other Postretirement Benefits:

material.

The Company has

defined benefit pension plans,

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

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

longer earn additional benefits after

The U.K. Plan was closed to new entrants in fiscal

2009.

The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company's current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company. This mark-to-market (MTM adjustment) method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for fiscal years

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

been recorded on approximately

$56.4

million of undistributed earnings of foreign subsidiaries as of

that some portion of the deferred tax assets will

: Research and development costs are expensed, primarily in selling, general and administrative expenses, and were as follows:

be realized.

Research and development

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

of potentially dilutive common shares in fiscal

respectively, resulting from shares issuable under its stock-based compensation plans. These additional shares are

used in the diluted EPS calculation in loss years.

Translation of foreign currencies

: The assets and liabilities on the financial statements of our foreign subsidiaries where the local currency is in functional currency, are translated at exchange rates in effect on reporting dates. The income statement is translated at average exchange rates over the reporting month throughout the year.

Other foreign subsidiaries

also contain assets or liabilities denominated in a currency other than the prevailing functional currency. These translations are adjusted into the functional currency on a monthly basis, See Note

“Other Income and Expense” to the Consolidated Financial Statements.

Use of accounting estimates

: The preparation of the consolidated 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

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.

Compensation-Retirement Benefits (Topic

07,

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 fiscal years

and the reclassifications to the 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 2020			FY 2019			FY 2018
Cost of goods sold decrease	$	12,790		$	710		$	582
Selling, general and administrative expense decrease		3,963			220			212
Other income (expense) net		(16,753	)		(930	)		(794	)
	$	-		$	-		$	-

The Company adopted Accounting Standards Codification

As a result, the Company updated its significant accounting policies for leases. Refer to Note

"Leases" to the Consolidate Financial Statements for additional information related to the Company's lease arrangements and the impact of the adoption of ASC

842.

months. Minimum lease payments include only the fixed lease component of the agreement.

included in the ROU assets or operating lease liabilities. These are expensed as incurred and recorded as variable lease expense. The Company determines if an arrangement is a lease at the inception of a contract. Operating lease ROU assets and operating lease liabilities are stated separately in the Consolidated Balance Sheet.

have a material impact on our Consolidated Statements of Operations or Consolidated Statements of Cash Flows.

"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

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. The Company adopted this guidance in fiscal year

“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

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

02,

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

opting to reclassify the income tax effects from the new

tax act. The adoption of this standard did

have a material impact on the Company's financial position and results of operations upon adoption

"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 adoption of this standard did

have a material impact on the Company's financial position and results of operations upon adoption

Recently Issued Accounting Standards

“Financial Instruments - Credit Losses (Topic

326

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

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

November 2018.

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

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

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

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 adoption of this standard did

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

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

715

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

removes certain disclosures that are

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

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

will have on its consolidated financial statements.

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Note 3 - Stock-based Compensation

Share-based Payment Arrangement [Text Block]

STOCK-BASED COMPENSATION

Long-Term Incentive Plan

September 5, 2012,

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

Long Term Incentive Plan (the

“2012

Stock Plan”). The

Stock Plan was approved by shareholders on

October 17, 2012,

and the material terms of its performance goals were re-approved by shareholders at the Company's Annual Meeting held on

October 18, 2017.

The

Stock 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

Stock Plan provides for the issuance of up to

500,000

shares of A shares common stock.

Options granted vest in periods ranging from

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

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

year to

three

restricted stock units outstanding. In addition, there were

119,533

shares available for grant under the

Stock Incentive Plan as of

For stock option grants, the fair value of each grant is estimated at the date of grant using the Binomial Options pricing model. The Binomial Options pricing model utilizes assumptions related to stock volatility, the risk-free interest rate, the dividend yield and employee exercise behavior. Expected volatilities utilized in the model are based on the historic volatility of the Company's stock price. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of the grant. The expected life is determined using the average of the vesting period and contractual term of the options (simplified method).

There were

stock options granted during fiscal years

The weighted average contractual term for stock options outstanding as of

2018.

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

was

2.5

options exercisable as of

In recognizing stock compensation expense for the

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

RSU awards with fair values of

$5.34

per RSU award, and there were

RSU's forfeited. During the year ended

June 30, 2019,

the Company granted

67,000

RSU awards with fair values of

$6.34

per RSU award. During the year ended

June 30, 2018,

the Company granted

62,000

RSU awards with fair values of

RSU awards settled in fiscal years

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

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

was

$0.8

million. Compensation expense related to the

was

$1.3

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

Stock Incentive Plan was

$1.7

million relates to performance based RSU grants that are

expected to be awarded. The remaining

$0.3

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

2.1

years.

Employee Stock Purchase Plan

The Company's Employee Stock Purchase Plans (ESPP) give eligible employees an opportunity to participate in the success of the Company. The Board of Directors renews each Employee Stock Purchase Plan every

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

years from the date of grant and expire if

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

exercised on such date.

2017.

additional options will be granted under the previous

plan. A summary of option activity is as follows:

	Shares on Options			Weighted Average Exercise Price		Shares Available for Grant
Balance, July 1, 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
Options granted		86,946			3.63		(86,946	)
Options exercised		(20,615	)		3.52		-
Options canceled		(54,271	)				54,271
Balance, June 30, 2020		99,193					380,192

The following information relates to outstanding options as of

June 30, 2020:

Weighted average remaining life (years)		1.3
Weighted average fair value on grant date of options granted in:
2018	$	2.23
2019		2.28
2020		1.63

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 –

46.72%

–

48.95%,

risk free interest rate –

0.17%

–

1.66%,

expected dividend yield -

and expected lives -

years. Compensation expense of

million has been recorded for fiscal

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

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2018.

Note 4 - Cash	12 Months Ended
Note 4 - Cash	Jun. 30, 2020
Notes to Financial Statements
Cash, Cash Equivalents, and Short-term Investments [Text Block]	4 . CASH Cash held by foreign subsidiaries amounted to $7.1 million and $8.9 million at June 30, 2020 and June 30, 2019, respectively. Of the June 30, 2020 balance, $4.6 million in U.S. dollar equivalents was held in British Pounds Sterling and $0.7 million in U.S. dollar equivalents was held in Brazilian Reals. Of the June 30, 2019 balance, $4.3 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.

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Note 5 - Inventories

Inventory Disclosure [Text Block]

. INVENTORIES

Inventories consist of the following (in thousands):

	June 30, 2020			June 30, 2019
Raw materials and supplies	$	26,255		$	26,106
Goods in process and finished parts		13,694			17,464
Finished goods		37,579			41,500
		77,528			85,070
LIFO reserve		(24,541	)		(23,280	)
	$	52,987		$	61,790

million total inventory at

million LIFO reserves belong to the U.S. Precision Tools and Saws Manufacturing “Core U.S.” business. The Core U.S. business had total Inventory, on a FIFO basis, of

$33.1

million and

$8.6

million on a LIFO basis as of

The Core U.S. business total inventory was

$33.2

million on a FIFO basis and

$9.8

million on a LIFO basis at

June 30, 2019.

The use of LIFO, as compared to FIFO, resulted in a

$1.3

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

million decrease in fiscal

compared to a

$1.6

2019.

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Note 6 - Goodwill and Intangibles

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:

	June 30, 2020										June 30, 2019
	Cost		Accumulated Amortization			Impairment			Net		Cost		Accumulated Amortization			Impairment		Net
Bytewise	$	3,034	$	-		$	(3,034	)	$	-	$	3,034	$	-		$	-	$	3,034
Private Software Company		1,634		-			(619	)		1,015		1,634		-					1,634
Goodwill		4,668		-			(3,653	)		1,015		4,668		-			-		4,668
Identifiable intangible assets		14,155		(6,316	)		(2,842	)		4,997		18,707		(10,247	)		-		8,460

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

	June 30, 20 20			June 30, 201 9
Non-compete agreements	$	-		$	600
Trademarks and trade names		2,070			2,070
Completed technology		2,010			2,010
Customer relationships		630			5,580
Software development		9,445			8,122
Other intangible assets		-			325
Total cost		14,155			18,707
Accumulated amortization		(6,316	)		(10,247	)
Intangibles impairment		(2,842	)		-
Total net balance	$	4,997		$	8,460

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

million for the year ended

respectively. The estimated aggregate amortization expense for each of the next

years, and thereafter, is as follows:

Fiscal Year	(In thousands)
2021	$	1,377
2022		1,162
2023		928
2024		657
2025		501
Thereafter		373
	$	4,997

The following tables provides Goodwill carried at fair value measuring on a non-recurring basis as of

assets and liabilities carried at fair value measured on a non-recurring basis as of

There were

June 30, 2019:

(in thousands)	Fair Value Measurements at June 30, 2020								Expense
Goodwill	Carrying Value		Level 1		Level 2		Level 3		Year ended June 30, 2020
private software company	$	1,015		-		-	$	1,015	$	619
Bytewise		-		-		-		-	$	3,034

The Company's acquisition of Bytewise in

2011

and a private software company in

resulted in the recognition of goodwill totaling

$4.7

million. The Company is required, on a set date, to annually assess its goodwill in order to determine whether or

it is more likely than

that the fair value of the reporting unit's goodwill exceeded its carrying amount. Determining the fair value of a reporting unit is subjective and requires the use of significant estimates and assumptions.

The Company contracted with a professional valuation firm “the firm” to perform a quantitative analysis (commonly referred to as “Step One”) for its

determined the fair value assessment of the software development company's goodwill exceeded the carrying amount.

The Company performed a qualitative analysis of its Bytewise reporting unit for its

October 1, 2019

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

limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and changes in management or key personnel.

The Company determined the COVID-

pandemic a triggering event at the private software company and Bytewise due to its negative impact on the Company's revenue. Under ASC

350

“Intangibles- Goodwill and Other”, the Company is required to test whether it is more likely than

the fair value of the reporting units goodwill exceeded its carrying amount. As of period ending

March 31, 2020,

the Company determined the precise impact to the business was

knowable, and therefore, performed a sensitivity analysis assuming an annualized percentage reduction of

25%

of the projected revenue in the

and calculated fair value over the book value of equity. After assessing these and other factors the Company determined, during the

March

quarter fiscal year

that it was more likely than

that the fair value of the Bytewise reporting unit and private software company's fair value exceeded its carrying amount and the Company did

record an impairment charge.

During the

fourth

quarter of fiscal year

the Company, considering the COVID-

pandemic a triggering event for the private software company and Bytewise due to a drop in sales, performed the goodwill impairment assessment by running a quantitative analysis (commonly referred to as “Step One”) for both the Bytewise reporting unit and the private software company. The Company determined that the fair value of the Bytewise and private software company using a discounted cash flow method for both reporting units. Based on this analysis, it was determined that the fair value of the reporting unit is below their respective carrying amounts. As a result, the Company concluded that Intangible Assets were impaired

$2.9

million and Goodwill was impaired

$0.6

million at the private software company and Goodwill of

$3.0

million was impaired at the Bytewise reporting unit as of

XML 21 R16.htm IDEA: XBRL DOCUMENT

Note 7 - Property, Plant and Equipment

Property, Plant and Equipment Disclosure [Text Block]

. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following as of

	As of June 30, 20 20
	Cost		Accumulated Depreciation			Net
Land	$	1,186	$	-		$	1,186
Buildings and building improvements		43,641		(29,966	)		13,675
Machinery and equipment		115,563		(93,334	)		22,229
Total	$	160,390	$	(123,300	)	$	37,090

	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

Any finance leases as of

are de minimis. Depreciation expense was

million for the years ended

XML 22 R17.htm IDEA: XBRL DOCUMENT

Note 8 - Leases

Lessee, Operating Leases [Text Block]

. LEASES

The Company adopted Accounting Standards Codification

The Company has leased buildings, manufacturing equipment and autos that are classified as ROU assets and operating lease liabilities in the Company's Consolidated Balance Sheets. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding

months. Minimum lease payments include only the fixed lease component of the agreement.

have a material impact on our Consolidated Statements of Operations or Consolidated Statements of Cash Flows. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases.

		Right-of- U se Assets				Operating Lease Obligations				Remaining Cash Commitment
Operating leases		$	4,465			$	4,560			$	5,422

The Company's weighted average discount rate and remaining term on lease liabilities is approximately

the Company's financing leases are de minimis. The foreign exchange impact affecting the operating leases are de minimis. The Company has other operating lease agreements with commitments of less than

year or that are

significant. The Company elected the practical expedient option and as such, these lease payments are expensed as incurred.

The Company entered into

$0.3

million in operating lease commitments in the

the Company had the following fiscal year minimum operating lease commitments (in thousands):

	Operating Lease Commitments
2021		2,228
2022		928
2023		734
2024		707
2025		349
Thereafter		476
Subtotal	$	5,422
Imputed Interest		(862	)
Total		4,560

XML 23 R18.htm IDEA: XBRL DOCUMENT

Note 9 - Restructuring Cost	12 Months Ended
Note 9 - Restructuring Cost	Jun. 30, 2020
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	9. RESTRUCTURING COST In June 2020, the Company recorded a restructuring charge of $1.6 million. The Company also expects, during fiscal 2021, an additional $2.4 million of expense associated with restructuring as a period cost at the time incurred. The COVID- 19 pandemic has had a negative impact on global sales. The impact was felt as early as January 2020 in the Company's operation in Suzhou, China and most significantly in March 2020 in North America and in the UK. We have taken austerity measures, reducing payroll and managing variable operational spending to help mitigate the shortfall. In addition, the Company is investing in a strategic realignment focused on a lower cost structure, long term, designed to maximize our global factory utilization. During fiscal 2020, the Company adopted a plan to consolidate certain saw manufacturing operations for greater efficiency. This restructuring is strategically targeting improving manufacturing utilization globally and will be carried out during fiscal 2021. The Company incurred $1.6 million in total restructuring accrual with $0.6 million in related charges for severance and $1.0 million in equipment related, freight and other costs. The remaining balance of the accrual at June 30, 2020 is $1.1 million, plus the $2.4 million period restructuring cost is planned to be incurred in the first three quarters of fiscal year 2021.

XML 24 R19.htm IDEA: XBRL DOCUMENT

Note 10 - Other Income and (Expense)

Other Income and Other Expense Disclosure [Text Block]

. OTHER INCOME AND (EXPENSE)

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

	20 20			201 9			201 8
Interest income	$	90			71		$	128
Interest expense		(975	)		(976	)		(845	)
Foreign currency gain (loss), net		140			(426	)		(316	)
Brazil tax settlements		2,544			345			1,446
Patent lawsuit settlement		-			-			(666	)
Sale of scrap material		100			110			70
Pension net periodic benefit cost (NPBC)		(16,753	)		(930	)		(794	)
Other income (expense), net		160			195			324
	$	(14,694	)		(1,611	)	$	(653	)

The impact of the adoption of ASU

“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

“Summary of Significant Accounting Policies”.

XML 25 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Jun. 30, 2020	Sep. 04, 2020	Dec. 31, 2019
Document Information [Line Items]
Entity Registrant Name	STARRETT L S CO
Entity Central Index Key	0000093676
Trading Symbol	scx
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Public Float			$ 35,722,784
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common Stock
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		657,270
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		6,329,317

XML 26 R20.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes

Income Tax Disclosure [Text Block]

. INCOME TAXES

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

	2020			2019		2018
Domestic operations	$	(24,450	)	$	1,507	$	1,351
Foreign operations		4,453			8,103		3,514
	$	(19,997	)	$	9,610	$	4,865

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

	2020			2019			2018
Current:
Federal	$	(19	)	$	(106	)	$	(991	)
Foreign		3,633			2,398			2,256
State		30			37			5
Deferred:
Federal		(1,514	)		1,139			6,772
Foreign		53			(172	)		(396	)
State		(341	)		235			852
	$	1,842		$	3,531		$	8,498

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

	2020			2019			2018
Expected tax (benefit) expense	$	(4,199	)	$	2,018		$	1,365
State taxes, net of federal effect		(1,042	)		(5	)		-
Foreign taxes, net of federal credits		1,210			(1,055	)		(1,010	)
Change in valuation allowance		1,996			1,744			2,074
Tax reserve adjustments		1,946			(66	)		(38	)
Return to provision and other adjustments		372			(57	)		(72	)
Goodwill impairment		130			-			-
Tax rate change applied to deferred tax balances		54			(129	)		6,324
Global intangible low taxed income		1,558			1,121			-
Other permanent items		(183	)		(40	)		(145	)
Actual tax (benefit) expense	$	1,842		$	3,531		$	8,498

December 22, 2017,

the Tax Cuts and Jobs Act (“the 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

-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

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

later than

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 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.

Beginning in fiscal

the Company incorporated certain provisions of the Act in the calculation of the tax provision and effective tax rate, including the provisions related to the 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

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

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 Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") was enacted in the United States on

March 27, 2020.

The CARES Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effect of COVID-

19.

While the CARES Act provides extensive tax changes in response to the COVID-

pandemic, the provisions are

expected to have a significant impact on the Company's financial results.

The tax rate of (

9.2%

) on pre-tax losses of (

$20.0

) million in the year ended

is lower than the U.S. statutory rate primarily as a result of the GILTI provisions, non-deductible goodwill impairment, as well as changes in the jurisdictional mix of earnings, particularly Brazil with a statutory tax rate of

34%.

The tax rate was also negatively impacted by the write-off of the long-term receivable previously established for competent authority relief for historic transfer pricing adjustments which the Company has determined is

longer feasible to pursue and an increase in the valuation allowance against foreign tax credits which the Company has determined are more likely than

million in the year ended

to expire unutilized.

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

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

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

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

Net deferred tax assets at

to expire unutilized.

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

were

$21.0

$26.9

million with a valuation allowance of

$8.8

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) domestic profitability in

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

2018;

showed domestic book and tax losses due to the impact of the COVID-

pandemic and charges recorded in the

the valuation allowance increased by

$2.1

million due to the impact of the current year domestic loss generated and revised forecasts of income on the projected utilization of foreign tax credits that will expire at various dates through

2028.

In fiscal

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

-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.

Deferred income taxes at

are attributable to the following (in thousands):

	2020			2019
Inventories	$	1,339		$	1,361
Employee benefits (other than pension)		684			840
Operating lease liabilities		1,111			-
Book reserves		695			601
Federal NOL, various carryforward periods		716			66
State NOL, various carryforward periods		1,719			1,224
Foreign NOL, various carryforward periods		388			309
Foreign tax credit carryforward, expiring 2023 – 2028		7,212			7,329
Pension benefits		13,175			10,289
Retiree medical benefits		1,961			1,778
Depreciation		(186	)		(17	)
Intangibles		580			(630	)
Right of use assets		(1,088	)		-
Federal research and development and AMT credit carryforward		817			786
Other temporary taxable differences		(698	)		-
Other temporary deductible differences		1,404			1,446
Total deferred tax assets		29,828			25,382
Valuation allowance		(8,811	)		(6,743	)
Net deferred tax asset	$	21,018		$	18,639

The Company is subject to U.S. federal income tax and various state, local and foreign income taxes in numerous jurisdictions. The Company's domestic and international tax liabilities are subject to the allocation of revenues and expenses in different jurisdictions and the timing of recognizing revenues and expenses. Additionally, the amount of income taxes paid is subject to the Company's interpretation of applicable tax laws in the jurisdictions in which it files. Reconciliations of the beginning and ending amount of unrecognized tax benefits are as follows (in thousands):

Balance at July 1, 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	)

Increase for tax positions taken during the current period		(326	)
Increase for tax positions taken during the prior period		(188	)
Effect of exchange rate changes		299
Decrease relating to lapse of applicable statute of limitations		48
Balance at June 30, 2020	$	(11,106	)

the Company has unrecognized tax benefits of

million, respectively, of which

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

The long-term tax obligations as of

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

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

The Company has identified uncertain tax positions at

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

twelve

months by

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

million in fiscal

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

for interest expense.

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

are

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

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

2015

The federal tax loss carryforward of

2019.

$3.4

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

$1.7

million expires at various times beginning in

2021.

The state tax credit carryforwards of

$0.6

million expires in the years

2021

The foreign tax credit carryforward of

2035.

$7.2

million expires in the years

2023

The research and development tax credit carryforward of

2028.

$0.8

million expires in the years

2029

The foreign tax loss carryforwards of

2040.

$2.3

million can be carried forward indefinitely.

the estimated amount of total unremitted earnings of foreign subsidiaries is

$56.4

million. The Company has

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

believe it is practicable to estimate the unrecognized deferred taxes related to these earnings as they are indefinitely reinvested. Cash held in foreign subsidiaries is

available for use in the U.S. without the likely incurrence of U.S. federal and state income and withholding tax consequences.

XML 27 R21.htm IDEA: XBRL DOCUMENT

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 12 - Employee Benefit and Retirement Plans

Retirement Benefits [Text Block]

. EMPLOYEE BENEFIT AND RETIREMENT PLANS

The Company has

defined benefit pension plans,

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

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

longer earn additional benefits after

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

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

respectively. The financial markets also had an adverse impact on earnings in fiscal

as the increased demand for bonds and the associated decrease in interest rates significantly contributed to a

$16.8

million non-cash pension expense due to higher liabilities. The pension liability is based upon the

ten

-year Corporate Bond Rate and is set on the last day of the fiscal year. This generally accepted accounting principle coupled with the historically low interest rates are driven by financial markets, economic policy and financial conditions. The discount rate to determine net cost for the US pension liability was lowered from

The amortization of the net pension loss was

$0.3

million in fiscal year

Under both U.S and U.K. defined benefit plans, benefits are based on years of service and final average earnings. Plan assets consist primarily of investment grade debt obligations, marketable equity securities and shares of the Company's common stock. The asset allocation of the Company's domestic pension plan is diversified, consisting primarily of investments in equity and debt securities. The Company seeks a long-term investment return that is given reasonable prevailing capital market expectations. Target allocations are

40%

70%

in equities (including

10%

20%

in Company stock), and

30%

60%

in cash and debt securities.

In fiscal

2021,

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

the Company used a discount rate assumption of

3.6%

4.3%

for the U.S. plan and

2.4%

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

2.8%

third

party data appropriate for the plans.

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

subject to short-term market fluctuations, although they

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

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

the contribution for fiscal

2021

for the U.S. plans will require a contribution of

$7.0

million and the U.K. plan will require

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

$0.9

million.

	20 20			201 9
Asset category:
Cash equivalents		4	%		2	%
Fixed income		27	%		31	%
Equities		40	%		35	%
Mutual and pooled funds		29	%		32	%
		100	%		100	%

Cash equivalents are held in money market funds.

The Company's fixed income portfolio includes mutual funds that hold a combination of short-term, investment-grade fixed income securities and a diversified selection of investment-grade, fixed income securities, including corporate securities and U.S. government securities.

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, 2020
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	5,165	$	-	$	-	$	5,165		4	%
Fixed Income		-		32,740		-		32,740		27	%
Equities		48,947		888		-		49,835		40	%
Mutual & Pooled Funds		-		30,687		-		30,687		29	%
Total	$	54,112	$	64,315	$	-	$	118,427		100	%

in the U.K. Pension plan a fund in the amount of

$5.4

million was excluded from above and valued under NAV practical expedient. The value of the combined plan assets at end of year was

$123,826.

Included in equity securities at

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

$2.2

million and

$4.6

million, respectively.

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	%

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

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

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	169,680		$	159,213		$	169,696
Interest cost		5,417			6,013			6,077
Exchange rate changes		(1,013	)		(1,697	)		707
Benefits paid		(7,203	)		(7,217	)		(6,489	)
Actuarial (gain) loss		17,309			13,368			(10,778	)
Benefit obligation at end of year	$	184,190		$	169,680		$	159,213

Change in plan assets
Fair value of plan assets at beginning of year		122,033			118,693			117,778
Actual return on plan assets		2,163			6,589			2,545
Employer contributions		7,687			5,413			4,366
Benefits paid		(7,203	)		(7,217	)		(6,489	)
Exchange rate changes		(845	)		(1,445	)		493
Fair value of plan assets at end of year		123,826			122,033			118,693
Funded status at end of year	$	(60,364	)	$	(47,647	)	$	(40,520	)
Amounts recognized in balance sheet
Current liability	$	(373	)	$	(324	)	$	(67	)
Noncurrent liability		(59,991	)		(47,323	)		(40,453	)
Net amount recognized in balance sheet	$	(60,364	)	$	(47,647	)	$	(40,520	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss	$	(19,113	)	$	(15,590	)	$	(4,038	)
Amounts not yet recognized as a component of net periodic benefit cost		(19,113	)		(15,590	)		(4,038	)
Accumulated net periodic benefit cost in excess of contributions		(41,249	)		(32,057	)		(36,482	)
Net amount recognized	$	(60,634	)	$	(47,647	)	$	(40,520	)



Components of net periodic benefit cost
Interest cost	$	5,417		$	6,013		$	6,077
Expected return on plan assets		(5,193	)		(5,129	)		(5,140	)
Recognized actuarial loss		16,753			284			26
Net periodic benefit cost	$	16,977		$	1,168		$	963

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss	$	(53	)	$	(38	)	$	(28	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	184,190		$	169,680		$	159,213
Accumulated benefit obligation	$	184,190		$	169,680		$	159,213
Fair value of assets	$	123,826		$	122,033		$	118,693

U.S. Plan:

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

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	126,380		$	116,277		$	124,138
Service cost		-			-			-
Interest cost		4,417			4,854			4,804
Plan curtailment		-			-			-
Benefits paid		(5,682	)		(5,565	)		(4,786	)
Actuarial (gain) loss		13,016			10,814			(7,879	)
Benefit obligation at end of year	$	138,131		$	126,380		$	116,277

Weighted average assumptions – benefit obligation
Discount rate		2.73	%		3.56	%		4.27	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	85,150		$	82,140		$	81,928
Actual return on plan assets		1,071			4,132			1,645
Employer contributions		6,753			4,443			3,353
Benefits paid		(5,682	)		(5,565	)		(4,786	)
Fair value of plan assets at end of year		87,292			85,150			82,140
Funded status at end of year	$	(50,839	)	$	(41,230	)	$	(34,137	)

Amounts recognized in balance sheet
Current liability	$	(373	)	$	(324	)	$	(67	)
Noncurrent liability		(50,466	)		(40,906	)		(34,070	)
Net amount recognized in balance sheet	$	(50,839	)	$	(41,230	)	$	(34,137	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.56	%		4.27	%		3.92	%
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
Accumulated loss	$	(14,507	)	$	(13,196	)	$	(2,731	)
Amounts not yet recognized as a component of net periodic benefit cost		(14,507	)		(13,196	)		(2,731	)
Accumulated contributions less than net periodic benefit cost		(36,332	)		(28,034	)		(31,406	)
Net amount recognized	$	(50,839	)	$	(41,230	)	$	(34,137	)
Components of net periodic benefit cost
Interest cost	$	4,417		$	4,854		$	4,804
Expected return on plan assets		(4,249	)		(4,067	)		(4,026	)
Recognized actuarial loss		14,883			284			26
Net periodic benefit cost	$	15,051		$	1,071		$	804

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss		(38	)		(38	)		(28	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	138,131		$	126,380		$	116,277
Accumulated benefit obligation	$	138,131		$	126,380		$	116,277
Fair value of assets	$	87,292		$	85,150		$	82,140

U.K. Plan:

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

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	43,300		$	42,936		$	45,558
Interest cost		1,000			1,159			1,273
Exchange rate changes		(1,013	)		(1,697	)		707
Benefits paid		(1,521	)		(1,652	)		(1,703	)
Actuarial (gain) loss		4,293			2,554			(2,899	)
Benefit obligation at end of year	$	46,059		$	43,300		$	42,936
Weighted average assumptions - benefit obligation
Discount rate		1.59	%		2.39	%		2.80	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	36,883		$	36,553		$	35,850
Actual return on plan assets		1,092			2,457			900
Employer contributions		934			970			1,013
Benefits paid		(1,521	)		(1,652	)		(1,703	)
Exchange rate changes		(854	)		(1,445	)		493
Fair value of plan assets at end of year		36,534			36,883			36,553
Funded status at end of year	$	(9,525	)	$	(6,417	)		(6,383	)
Amounts recognized in balance sheet
Noncurrent liability		(9,525	)		(6,417	)		(6,383	)
Net amount recognized in balance sheet	$	(9,525	)	$	(6,417	)	$	(6,383	)

Weighted average assumptions – net periodic benefit cost

Discount rate		2.39	%		2.80	%		2.73	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		2.62	%		2.98	%		3.01	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss	$	(4,608	)	$	(2,394	)	$	(1,307	)
Amounts not yet recognized as a component of net periodic benefit cost		(4,608	)		(2,394	)		(1,307	)
Accumulated net periodic benefit cost in excess of contributions		(4,917	)		(4,023	)		(5,076	)
Net amount recognized	$	(9,525	)	$	(6,417	)	$	(6,383	)



Components of net periodic benefit cost
Interest cost		1,000			1,159			1,273
Expected return on plan assets		(944	)		(1,062	)		(1,114	)
Amortization of net loss		1,870			—			—
Net periodic benefit cost	$	1,926		$	97		$	159

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	$	46,059		$	43,300		$	42,936
Accumulated benefit obligation	$	46,059		$	43,300		$	42,936
Fair value of assets	$	36,534		$	36,883		$	36,553

Postretirement Medical and Life Insurance Benefits:

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

	20 20			201 9			201 8
Change in benefit obligation:
Benefit obligation at beginning of year	$	6,930		$	6,385		$	7,086
Service cost		73			72			85
Interest cost		240			265			270
Benefits paid		(329	)		(346	)		(388	)
Actuarial (gain) loss		791			554			(668	)
Benefit obligation at end of year	$	7,705		$	6,930		$	6,385

Weighted average assumptions: benefit obligations
Discount rate		2.73	%		3.56	%		4.27	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Change in plan assets
Employer contributions		329			346			388
Benefits paid, net of employee contributions		(329	)		(346	)		(388	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(358	)	$	(353	)	$	(339	)
Non-current postretirement benefit obligation		(7,347	)		(6,577	)		(6,046	)
Net amount recognized in balance sheet	$	(7,705	)	$	(6,930	)	$	(6,385	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.56	%		4.27	%		3.92	%
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	$	2,240		$	2,777		$	3,314
Accumulated gain (loss)		(2,160	)		(1,452	)		(928	)
Amounts not yet recognized as a component of net periodic benefit cost		80			1,325			2,386
Net periodic benefit cost in excess of accumulated contributions		(7,785	)		(8,255	)		(8,771	)
Net amount recognized	$	(7,705	)	$	(6,390	)	$	(6,385	)
Components of net periodic benefit cost
Service cost	$	73		$	72		$	85
Interest cost		240			265			270
Amortization of prior service credit		(537	)		(537	)		(537	)
Amortization of accumulated loss		83			30			99
Net periodic benefit cost	$	(141	)	$	(170	)	$	(83	)
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	537		$	537
Net loss		(166	)		(83	)		(30	)
	$	371		$	454		$	507

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

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

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

	1% Increase
	20 20		201 9		201 8
Effect on postretirement benefit obligation	$	1	$	1	$	1

	1% Decrease
	20 20			201 9			201 8
Effect on postretirement benefit obligation	$	(1	)	$	(1	)	$	(1	)

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

Fiscal Year	Pension		Other Benefits
2021	$	7,913	$	358
2022		8,250		363
2023		8,610		353
2024		8,643		358
2025		9,150		364
After		56,032		1,889
	$	98,598	$	3,685

The entire disclosure for retirement benefits.

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XML 28 R22.htm IDEA: XBRL DOCUMENT

Note 13 - Debt

Debt Disclosure [Text Block]

. DEBT

Debt is comprised of the following (in thousands):

	June 30, 2020		June 30, 2019
Short-term and current maturities
Loan and Security Agreement (Bytewise)	$	-	$	1,765
Loan and Security Agreement (Term Loan)		597		-
Brazil Loans		3,935		2,300
		4,532		4,065
Long-term debt (net of current portion)
Loan and Security Agreement (Bytewise)		-		2,641
Loan and Security Agreement (Term Loan)		5,941		-
Loan and Security Agreement (Line of Credit)		20,400		14,900
		26,341		17,541
	$	30,873	$	21,606

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

Fiscal Year
2021		4,532
2022		21,629
2023		1,280
2024		1,332
2025		1,386
Thereafter		714
Total	$	30,873

As a result of a decrease in sales related to the COVID-

epidemic, the Company anticipated potential non-compliance with its fixed charge coverage ratio for the year ended

under its Loan and Security Agreement (the “Loan Agreement”) by and among the Company and its U.S. operating companies (collectively, the “Borrowers”) and TD Bank, N.A. (“TD Bank”). On

June 25, 2020,

the Borrowers and TD Bank entered into an amendment and restatement (the “Amendment and Restatement”) of the Loan Agreement. The Amendment and Restatement waived the fixed charge coverage ratio for the quarter ended

In addition, the Amendment and Restatement clarifies that certain non-cash adjustments to the definition of EBITDA are permitted under the Loan Agreement, as amended. In addition, the Amendment and Restatement increases the permitted borrowings from a foreign bank from

$5.0

million to

$15.0

million and permits the Company to draw the remainder of the outstanding balance under the Loan Agreement.

Pursuant to the terms of the Company's Amended and Restated Loan and Security Agreement of

June 25, 2020,

the “First Amendment” to this loan agreement was executed on

September 17, 2020,

which include, among other things, (i) pause testing of the Fixed Charge Coverage Ratio until

September 30, 2021

and (ii) establishment of a new minimum cumulative EBITDA and minimum liquidity covenants in lieu thereof. TD Bank perfected its security interests in the Company's U.S. based assets, increased the maximum interest charged on the Line Of Credit from and annual interest rate of

2.25%

plus Libor to

3.50%

plus Libor, and amended the borrowing base for the line of credit from

80%

of Qualified AR and

50%

of the lower of Cost or Market of US inventory values to

80%

of qualified AR plus

85%

of the Net Orderly Liquidation Value (NOLV) of US Inventory plus

62.5%

of total appraised US real estate values. As a result of this change, the Company is projected to maintain its current borrowing capacity of

$25,000,000

under the Line of Credit. The Company underwent a series of appraisals and field exams in all US locations as part of restructuring this agreement. In addition, the Company will provide additional reporting to TD Bank, including monthly profit and loss statements, balance sheets, cash flow statements and forecasting. This minimum adjusted EBITDA covenant is based on the Company's plan for a slow pandemic recovery throughout

FY21

and the impact of the Company's restructuring plan initiatives. The Company will apply certain proceeds from the sale of US real estate assets against the principle balance of the term loans under the TD Bank loan agreement. The Agreement will revert to the existing covenant package for the quarter ending

September 30, 2021

and every quarter thereafter.

December 31, 2019,

the Company entered into the Tenth Amendment of its Loan and Security Agreement (“Tenth Amendment”). Under the revised agreement, the credit limit for the Revolving Loan was increased from

$23.0

million to

$25.0

million. In addition, the Company entered into a new

$10.0

million

-year Term Loan with a fixed interest rate of

4.0%.

The new Term Loan will require interest only payments for

months and will convert to a term loan requiring both interest and principal payments commencing

January 1, 2021.

Under the Tenth Amendment, the credit limit for external borrowing was increased from

million of the Bytewise term loan (

November, 2011)

using the proceeds from borrowing

$6.5

million on the Loan and Security Agreement Term Loan. The line of credit balance increased

$2.5

million and Brazil loans increased

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

November 22, 2011,

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

$15.5

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

ten

-year loan bearing a fixed interest rate of

4.5%

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

$160,640.

The Term Loan had a balance of

the Company paid down

$3.5

million of the Bytewise term loan.

December 2017,

the Company's Brazilian subsidiary entered into

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. In

February 2019,

the Company's Brazilian subsidiary began refinancing debt among Santander, Bradesco and Brazil Bank as follows as of

June 30, 2020 (

in thousands):

Lending Institution	Interest Rate			Beginning Date	Ending Date	Outstanding Balance
Bradesco		5.18	%	May 2020	May 2021	$	1,000
Santander Bank		8.12	%	April 2020	April 2021		959
Brazil Bank		3.10	%	February 2020	February 2021		500
Brazil Bank		6.05	%	March 2020	February 2021		1,000
Brazil Bank		2.40	%	March 2020	February 2021		300
Brazil Bank		3.11	%	September 2019	September 2020		177
						$	3,936

XML 29 R23.htm IDEA: XBRL DOCUMENT

Note 14 - Common Stock	12 Months Ended
Note 14 - Common Stock	Jun. 30, 2020
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.

XML 30 R24.htm IDEA: XBRL DOCUMENT

Note 15 - Contingencies	12 Months Ended
Note 15 - Contingencies	Jun. 30, 2020
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.

XML 31 R25.htm IDEA: XBRL DOCUMENT

Note 16 - Concentrations of Credit Risk	12 Months Ended
Note 16 - Concentrations of Credit Risk	Jun. 30, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	1 6 . CONCENTRATIONS OF CREDIT RISK The Company believes it has little significant concentrations of credit risk as of June 30, 2020. Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries, with none exceeding 10% of consolidated sales.

XML 32 R26.htm IDEA: XBRL DOCUMENT

Note 17 - Financial Information by Segment and Geographic Area

Segment Reporting Disclosure [Text Block]

. FINANCIAL INFORMATION BY SEGMENT & GEOGRAPHIC AREA

The Company offers its broad array of measuring and cutting products to the market through multiple channels of distribution throughout the world. The Company's products include precision tools, electronic gages, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, reciprocating saw blades,

M1®

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

The North American segment's operations include all manufacturing and sales in the United States, Canada and Mexico. The International segment's operations include all locations outside North America, primarily in Brazil, United Kingdom and China. The chief operating decision maker, who is the Company's CEO, reviews operations on a geographical basis and decisions about where to invest the Company's resources are made based on the current results and forecasts of operations in those geographies. Since the markets for the Company's products are sufficiently different in North America than they are in the rest of the world and in view of the significant impact that currency fluctuation plays outside the United States on the revenue of the Company, the Company's business review separates North America from operations outside North America. For this reason, the Company is reflecting

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

Segment income is measured for internal reporting purposes by excluding corporate expenses, other income and expense including interest income and interest expense and income taxes. Corporate expenses consist primarily of executive compensation, certain professional fees, and costs associated with the Company's global headquarters. Financial results for each reportable segment are as follows (in thousands):

	Year Ended June 30, 20 20
	North America			International			Unallocated			Total
Sales 1	$	121,834		$	79,617		$	-		$	201,451
Goodwill and intangibles impairment		(6,496	)		-			-			(6,496	)
Restructuring		(341	)		(1,239	)		-			(1,580	)
Operating income		(2,055	)		3,841			(7,090	)		(5,303	)
Capital expenditures and software development		6,992			3,608			-			10,600
Depreciation and amortization		4,942			2,253			-			7,195
Current assets 4		35,030			55,610			13,458			104,098
Long-lived assets 5		34,354			13,213			21,018			68,585

	Year Ended June 30, 201 9
	North America		International		Unallocated			Total
Sales 2	$	136,387	$	91,635	$	-		$	228,022
Operating income (loss)		9,468		8,043		(6,209	)		11,221
Capital expenditures and software development		3,617		6,610		-			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 3	$	128,442	$	87,886	$	-		$	216,328
Operating income (loss)		8,175		2,128		(5,579	)		4,724
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

Excludes

$4,040

of North American segment intercompany sales to the International segment and

$13,820

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

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.

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

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 & goodwill.

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

Sales	Year Ended June 30,
	20 20		201 9		201 8
North America
United States	$	113,989	$	127,359	$	119,226
Canada & Mexico		7,845		9,028		9,216
		121,834		136,387		128,442
International
Brazil		49,254		54,324		49,726
United Kingdom		18,869		24,042		25,099
China		6,048		7,370		7,323
Australia & New Zealand		5,446		5,899		5,738
		79,617		91,635		87,886
Total Sales	$	201,451	$	228,022	$	216,328

Long-lived Assets	Year Ended June 30,
	2020		2019		2018
North America
United States	$	34,264	$	35,594	$	37,437
Canada & Mexico		90		44		52
		34,354		35,638		37,489
International
Brazil		8,050		10,067		8,662
United Kingdom		1,948		2,046		1,876
China		2,881		1,944		2,346
Australia & New Zealand		334		111		126
		13,213		14,168		13,010

Total Long-Lived Assets	$	47,567	$	49,806	$	50,499

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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XML 33 R27.htm IDEA: XBRL DOCUMENT

Note 18 - Quarterly Financial Data (Unaudited)

Quarterly Financial Information [Text Block]

. QUARTERLY FINANCIAL DATA (unaudited)

(in thousands except per share data)

Quarter Ended	Net Sales		Gross Margin		Earnings / (Loss) Before Income Taxes			Net Earnings / (Loss)			Basic and Diluted Earnings / (Loss) Per Share
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
September 2019	$	52,114	$	17,703	$	1,276		$	778		$	0.11
December 2019		56,864		18,836		1,875			1,260			0.18
March 2020		49,998		14,844		287			613			0.09
June 2020		42,475		10,827		(23,435	)		(24,490	)		(3.52	)
	$	201,451	$	62,210	$	(19,997	)	$	(21,839	)	$	(3.14	)

Operating income in the

million, exclusive of

$8.1

million of adjustments related to impairment and restructuring. The financial markets also had an adverse impact on earnings in fiscal

as the increased demand for bonds and the associated decrease in interest rates significantly contributed to a

$16.7

million non-cash pension expense due to higher liabilities. The pension liability, recorded in Other Income, is based upon the

ten

-year Corporate Bond Rate and is set on the last day of the fiscal year.

XML 34 R28.htm IDEA: XBRL DOCUMENT

Note 19 - Subsequent Events	12 Months Ended
Note 19 - Subsequent Events	Jun. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	19 . SUBSEQUENT EVENTS Pursuant to the terms of the Company's Amended and Restated Loan and Security Agreement of June 25, 2020, the “First Amendment” to this loan agreement was executed on September 17, 2020, which include, among other things, (i) pause testing of the Fixed Charge Coverage Ratio until September 30, 2021 and (ii) establishment of a new minimum cumulative EBITDA and minimum liquidity covenants in lieu thereof. TD Bank perfected its security interests in the Company's U.S. based assets, increased the maximum interest charged on the Line Of Credit from and annual interest rate of 2.25% plus Libor to 3.50% plus Libor, and amended the borrowing base for the line of credit from 80% of Qualified AR and 50% of the lower of Cost or Market of US inventory values to 80% of qualified AR plus 85% of the Net Orderly Liquidation Value (NOLV) of US Inventory plus 62.5% of total appraised US real estate values. As a result of this change, the Company is projected to maintain its current borrowing capacity of $25,000,000 under the Line of Credit. The Company underwent a series of appraisals and field exams in all US locations as part of restructuring this agreement. In addition, the Company will provide additional reporting to TD Bank, including monthly profit and loss statements, balance sheets, cash flow statements and forecasting. This minimum adjusted EBITDA covenant is based on the Company's plan for a slow pandemic recovery throughout FY21 and the impact of the Company's restructuring plan initiatives. The Company will apply certain proceeds from the sale of US real estate assets against the principle balance of the term loans under the TD Bank loan agreement. The Agreement will revert to the existing covenant package for the quarter ending September 30, 2021 and every quarter thereafter. The Company incurred, during quarter ending June 30, 2020, $1.6 million in restructuring related to headcount reductions and saw manufacturing consolidation comprised of $0.6 million in severance and $1.0 million in equipment write-offs, freight associated with manufacturing consolidation and other costs. The unpaid amount of the restructuring charge at June 30, 2020 is $1.1 million. The company also expects to incur $2.4 million in period restructuring in the first three quarters of fiscal year 2021. On September 2, 2020 the Board of Directors approved the issuance of an Additional Equity Award to the Company's Named Executive Officers “NEOs” and other executive as part of the 2012 Long-Term Incentive Plan “the Plan” . The award is in the amount of 101.1 thousand shares delivered as 67% fully vested Stock Units (defined in the Plan) and 33% as Restricted Stock Units (defined in the Plan). The Company's share price close on September 2, 2020 at $3.37 per share.

XML 35 R29.htm IDEA: XBRL DOCUMENT

Schedule II - Valuation and Qualifying Accounts

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, 2020	$	685	$	244		$	(155	)	$	(38	)	$	736
Year Ended June 30, 2019		1,277		(91	)		(5	)		(496	)		685
Year Ended June 30, 2018		946		538			(71	)		(137	)		1,277

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, 2020	$	6,743	$	2,068	$	-	$	-	$	8,811
Year Ended June 30, 2019		4,999		1,744		-		-		6,743
Year Ended June 30, 2018		2,922		2,077		-		-		4,999

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

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

See Exhibit Index below. Compensatory plans or arrangements are identified by an “*”.

(b) See Exhibit Index below.

(c)

Not

applicable.

XML 36 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - USD ($)
$ in Thousands

ASSETS

Accounts receivable (less allowance for doubtful accounts of $736 and $685, respectively)

Prepaid expenses and other current assets

Property, plant and equipment, net

Deferred tax assets, net

21,018

18,639

Intangible assets, net

LIABILITIES AND STOCKHOLDERS’ EQUITY

Notes payable and current maturities of long-term debt

4,532

4,065

Current lease liability

Total current liabilities

27,834

32,680

Other tax obligations

2,532

2,587

Long-term lease liability

2,655

Long-term debt, net of current portion

26,341

17,541

Postretirement benefit and pension obligations

Stockholders’ equity:

Additional paid-in capital

Accumulated other comprehensive loss

(75,415)

(59,281)

Total stockholders’ equity

45,983

83,379

Total liabilities and stockholders’ equity

172,683

190,087

Common Class A [Member]

Stockholders’ equity:

Common stock

6,308

6,207

Common Class B [Member]

Stockholders’ equity:

Common stock

$ 680

$ 690

[1]	Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets not allocated to the segments include cash and cash equivalents.

XML 37 R30.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

Consolidation, Policy [Policy Text Block]

Accounting Policies [Abstract]

Principles of consolidation

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash:

Cash held by foreign subsidiaries amounted to

million in U.S. dollar equivalents was held in British Pounds Sterling and

million in U.S. dollar equivalents was held in Brazilian Reals. Of the

million in U.S. dollar equivalents was held in British Pounds Sterling and

balance,

$4.6

$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

available for use in the U.S. without the likely incurrence of U.S. federal and state income and withholding tax consequences.

Financial Instruments and Derivatives [Policy Text Block]

Financial instruments and derivatives

Receivable [Policy Text Block]

Accounts receivable

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

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

-out “LIFO” method. All non-U.S. subsidiaries use the

-in-

-out “FIFO” method or the average cost method. LIFO is

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. The construction in progress balances in buildings, building improvements and machinery and equipment at

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

Lessee, Leases [Policy Text Block]

Leases:

The Company adopted Accounting Standards Codification

months. Minimum lease payments include only the fixed lease component of the agreement.

Although currently the Company's Finance Leases are considered di minimis, leases are capitalized under the criteria set forth in Accounting Standards Codification (ASC)

842,

“Leases”.

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

Long-Lived Asset Impairment:

During the

fourth

quarter, as a result of the COVID-

million. It was determined that there was

impairment of long-lived assets or intangibles at the Bytewise reporting unit.

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. The Company recorded an impairment charge of

“Goodwill and Intangibles” to the Consolidated Financial Statements for impairment charges.

million in fiscal year

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

subject to amortization but is tested for impairment annually and at any time when events suggest impairment

have occurred. The Company annually tests the goodwill of

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.

The Company contracted with a professional valuation firm “the firm” to perform a quantitative analysis (commonly referred to as “Step One”) for its

it determined the fair value assessment of the software development company's goodwill exceeded the carrying amount.

The Company performed a qualitative analysis of its Bytewise reporting unit for its

October 1, 2019

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

limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and changes in management or key personnel.

the Company, considering the COVID-

$3.7

million. See Note

“Goodwill and Intangibles” to the Consolidated Financial Statements for impairment charges.

Revenue [Policy Text Block]

Revenue recognition

: On

July 1, 2018,

the Company adopted ASC Topic

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

606”

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

Consolidated Balance Sheet, the Company made

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

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

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

-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

Purchase orders are of durations less than

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

and does

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

year or less, for which work has

yet been performed.

Performance Obligations

recognized under the point in time approach for the year ended

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

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

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

assess whether a contract has a significant financing component.

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

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.

18B

With the adoption of ASC Topic

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

the balances of the return asset were

million and the balance of the refund liability were

$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

sell extended warranties.

Contract Balances

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

yet been met, and therefore, revenue has

been recognized. The Company had

contract asset balances, but had contract liability balances of

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

Allowance for doubtful accounts

: The allowance for doubtful accounts of

compared to

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:

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

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

incurred significant warranty expense and consequently its warranty reserves are

Pension and Other Postretirement Plans, Policy [Policy Text Block]

material.

Pension and Other Postretirement Benefits:

The Company has

defined benefit pension plans,

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

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

longer earn additional benefits after

The U.K. Plan was closed to new entrants in fiscal

2009.

The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company's current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company. This mark-to-market (MTM adjustment) method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for fiscal years

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

been recorded on approximately

$56.4

million of undistributed earnings of foreign subsidiaries as of

that some portion of the deferred tax assets will

Research and Development Expense, Policy [Policy Text Block]

be realized.

Research and development

: Research and development costs are expensed, primarily in selling, general and administrative expenses, and were as follows:

Earnings Per Share, Policy [Policy Text Block]

Earnings per share (EPS)

of potentially dilutive common shares in fiscal

respectively, resulting from shares issuable under its stock-based compensation plans. These additional shares are

used in the diluted EPS calculation in loss years.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Translation of foreign currencies

Other foreign subsidiaries

also contain assets or liabilities denominated in a currency other than the prevailing functional currency. These translations are adjusted into the functional currency on a monthly basis, See Note

“Other Income and Expense” to the Consolidated Financial Statements.

Use of Estimates, Policy [Policy Text Block]

Use of accounting estimates

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Standards:

The Company adopted ASU

No.

Compensation-Retirement Benefits (Topic

07,

and the reclassifications to the 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 2020			FY 2019			FY 2018
Cost of goods sold decrease	$	12,790		$	710		$	582
Selling, general and administrative expense decrease		3,963			220			212
Other income (expense) net		(16,753	)		(930	)		(794	)
	$	-		$	-		$	-

The Company adopted Accounting Standards Codification

As a result, the Company updated its significant accounting policies for leases. Refer to Note

"Leases" to the Consolidate Financial Statements for additional information related to the Company's lease arrangements and the impact of the adoption of ASC

842.

months. Minimum lease payments include only the fixed lease component of the agreement.

have a material impact on our Consolidated Statements of Operations or Consolidated Statements of Cash Flows.

"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

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. The Company adopted this guidance in fiscal year

“Income Statement – Reporting Comprehensive Income (Topic

220

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

02,

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

opting to reclassify the income tax effects from the new

tax act. The adoption of this standard did

have a material impact on the Company's financial position and results of operations upon adoption

"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 adoption of this standard did

have a material impact on the Company's financial position and results of operations upon adoption

Recently Issued Accounting Standards

“Financial Instruments - Credit Losses (Topic

326

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

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

November 2018.

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

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

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

December 15, 2019,

December 15, 2018,

and interim periods therein. The adoption of this standard did

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

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

715

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

removes certain disclosures that are

December 15, 2020.

The amendments in ASU

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

will have on its consolidated financial statements.

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Note 2 - Significant Accounting Policies (Tables)

Accounting Standards Update and Change in Accounting Principle [Table Text Block]

(Dollars in Thousands)	Increase (Decrease) to Net Income
	FY 2020			FY 2019			FY 2018
Cost of goods sold decrease	$	12,790		$	710		$	582
Selling, general and administrative expense decrease		3,963			220			212
Other income (expense) net		(16,753	)		(930	)		(794	)
	$	-		$	-		$	-

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Note 3 - Stock-based Compensation (Tables)

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

	Shares on Options			Weighted Average Exercise Price		Shares Available for Grant
Balance, July 1, 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
Options granted		86,946			3.63		(86,946	)
Options exercised		(20,615	)		3.52		-
Options canceled		(54,271	)				54,271
Balance, June 30, 2020		99,193					380,192

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:
2018	$	2.23
2019		2.28
2020		1.63

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Note 5 - Inventories (Tables)

Schedule of Inventory, Current [Table Text Block]

	June 30, 2020			June 30, 2019
Raw materials and supplies	$	26,255		$	26,106
Goods in process and finished parts		13,694			17,464
Finished goods		37,579			41,500
		77,528			85,070
LIFO reserve		(24,541	)		(23,280	)
	$	52,987		$	61,790

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Note 6 - Goodwill and Intangibles (Tables)

Schedule of Intangible Assets and Goodwill [Table Text Block]

	June 30, 2020										June 30, 2019
	Cost		Accumulated Amortization			Impairment			Net		Cost		Accumulated Amortization			Impairment		Net
Bytewise	$	3,034	$	-		$	(3,034	)	$	-	$	3,034	$	-		$	-	$	3,034
Private Software Company		1,634		-			(619	)		1,015		1,634		-					1,634
Goodwill		4,668		-			(3,653	)		1,015		4,668		-			-		4,668
Identifiable intangible assets		14,155		(6,316	)		(2,842	)		4,997		18,707		(10,247	)		-		8,460

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

	June 30, 20 20			June 30, 201 9
Non-compete agreements	$	-		$	600
Trademarks and trade names		2,070			2,070
Completed technology		2,010			2,010
Customer relationships		630			5,580
Software development		9,445			8,122
Other intangible assets		-			325
Total cost		14,155			18,707
Accumulated amortization		(6,316	)		(10,247	)
Intangibles impairment		(2,842	)		-
Total net balance	$	4,997		$	8,460

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

Fiscal Year	(In thousands)
2021	$	1,377
2022		1,162
2023		928
2024		657
2025		501
Thereafter		373
	$	4,997

Fair Value Measurements, Nonrecurring [Table Text Block]

(in thousands)	Fair Value Measurements at June 30, 2020								Expense
Goodwill	Carrying Value		Level 1		Level 2		Level 3		Year ended June 30, 2020
private software company	$	1,015		-		-	$	1,015	$	619
Bytewise		-		-		-		-	$	3,034

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Note 7 - Property, Plant and Equipment (Tables)

Property, Plant and Equipment [Table Text Block]

	As of June 30, 20 20
	Cost		Accumulated Depreciation			Net
Land	$	1,186	$	-		$	1,186
Buildings and building improvements		43,641		(29,966	)		13,675
Machinery and equipment		115,563		(93,334	)		22,229
Total	$	160,390	$	(123,300	)	$	37,090

	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

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Note 8 - Leases (Tables)

Assets And Liabilities Lessee [Table Text Block]

		Right-of- U se Assets				Operating Lease Obligations				Remaining Cash Commitment
Operating leases		$	4,465			$	4,560			$	5,422

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Operating Lease Commitments
2021		2,228
2022		928
2023		734
2024		707
2025		349
Thereafter		476
Subtotal	$	5,422
Imputed Interest		(862	)
Total		4,560

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

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

	20 20			201 9			201 8
Interest income	$	90			71		$	128
Interest expense		(975	)		(976	)		(845	)
Foreign currency gain (loss), net		140			(426	)		(316	)
Brazil tax settlements		2,544			345			1,446
Patent lawsuit settlement		-			-			(666	)
Sale of scrap material		100			110			70
Pension net periodic benefit cost (NPBC)		(16,753	)		(930	)		(794	)
Other income (expense), net		160			195			324
	$	(14,694	)		(1,611	)	$	(653	)

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Note 11 - Income Taxes (Tables)

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

	2020			2019		2018
Domestic operations	$	(24,450	)	$	1,507	$	1,351
Foreign operations		4,453			8,103		3,514
	$	(19,997	)	$	9,610	$	4,865

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

	2020			2019			2018
Current:
Federal	$	(19	)	$	(106	)	$	(991	)
Foreign		3,633			2,398			2,256
State		30			37			5
Deferred:
Federal		(1,514	)		1,139			6,772
Foreign		53			(172	)		(396	)
State		(341	)		235			852
	$	1,842		$	3,531		$	8,498

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

	2020			2019			2018
Expected tax (benefit) expense	$	(4,199	)	$	2,018		$	1,365
State taxes, net of federal effect		(1,042	)		(5	)		-
Foreign taxes, net of federal credits		1,210			(1,055	)		(1,010	)
Change in valuation allowance		1,996			1,744			2,074
Tax reserve adjustments		1,946			(66	)		(38	)
Return to provision and other adjustments		372			(57	)		(72	)
Goodwill impairment		130			-			-
Tax rate change applied to deferred tax balances		54			(129	)		6,324
Global intangible low taxed income		1,558			1,121			-
Other permanent items		(183	)		(40	)		(145	)
Actual tax (benefit) expense	$	1,842		$	3,531		$	8,498

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

	2020			2019
Inventories	$	1,339		$	1,361
Employee benefits (other than pension)		684			840
Operating lease liabilities		1,111			-
Book reserves		695			601
Federal NOL, various carryforward periods		716			66
State NOL, various carryforward periods		1,719			1,224
Foreign NOL, various carryforward periods		388			309
Foreign tax credit carryforward, expiring 2023 – 2028		7,212			7,329
Pension benefits		13,175			10,289
Retiree medical benefits		1,961			1,778
Depreciation		(186	)		(17	)
Intangibles		580			(630	)
Right of use assets		(1,088	)		-
Federal research and development and AMT credit carryforward		817			786
Other temporary taxable differences		(698	)		-
Other temporary deductible differences		1,404			1,446
Total deferred tax assets		29,828			25,382
Valuation allowance		(8,811	)		(6,743	)
Net deferred tax asset	$	21,018		$	18,639

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

Balance at July 1, 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	)

Increase for tax positions taken during the current period		(326	)
Increase for tax positions taken during the prior period		(188	)
Effect of exchange rate changes		299
Decrease relating to lapse of applicable statute of limitations		48
Balance at June 30, 2020	$	(11,106	)

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Note 12 - Employee Benefit and Retirement Plans (Tables)

Schedule of Allocation of Plan Assets [Table Text Block]

	20 20			201 9
Asset category:
Cash equivalents		4	%		2	%
Fixed income		27	%		31	%
Equities		40	%		35	%
Mutual and pooled funds		29	%		32	%
		100	%		100	%

Schedule of Portfolio By Valuation Category [Table Text Block]

June 30, 2020
Asset Category	Level 1		Level 2		Level 3		Total		%
Cash Equivalents	$	5,165	$	-	$	-	$	5,165		4	%
Fixed Income		-		32,740		-		32,740		27	%
Equities		48,947		888		-		49,835		40	%
Mutual & Pooled Funds		-		30,687		-		30,687		29	%
Total	$	54,112	$	64,315	$	-	$	118,427		100	%

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	%

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

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	169,680		$	159,213		$	169,696
Interest cost		5,417			6,013			6,077
Exchange rate changes		(1,013	)		(1,697	)		707
Benefits paid		(7,203	)		(7,217	)		(6,489	)
Actuarial (gain) loss		17,309			13,368			(10,778	)
Benefit obligation at end of year	$	184,190		$	169,680		$	159,213

Change in plan assets
Fair value of plan assets at beginning of year		122,033			118,693			117,778
Actual return on plan assets		2,163			6,589			2,545
Employer contributions		7,687			5,413			4,366
Benefits paid		(7,203	)		(7,217	)		(6,489	)
Exchange rate changes		(845	)		(1,445	)		493
Fair value of plan assets at end of year		123,826			122,033			118,693
Funded status at end of year	$	(60,364	)	$	(47,647	)	$	(40,520	)
Amounts recognized in balance sheet
Current liability	$	(373	)	$	(324	)	$	(67	)
Noncurrent liability		(59,991	)		(47,323	)		(40,453	)
Net amount recognized in balance sheet	$	(60,364	)	$	(47,647	)	$	(40,520	)

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss	$	(19,113	)	$	(15,590	)	$	(4,038	)
Amounts not yet recognized as a component of net periodic benefit cost		(19,113	)		(15,590	)		(4,038	)
Accumulated net periodic benefit cost in excess of contributions		(41,249	)		(32,057	)		(36,482	)
Net amount recognized	$	(60,634	)	$	(47,647	)	$	(40,520	)



Components of net periodic benefit cost
Interest cost	$	5,417		$	6,013		$	6,077
Expected return on plan assets		(5,193	)		(5,129	)		(5,140	)
Recognized actuarial loss		16,753			284			26
Net periodic benefit cost	$	16,977		$	1,168		$	963

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss	$	(53	)	$	(38	)	$	(28	)

Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation	$	184,190		$	169,680		$	159,213
Accumulated benefit obligation	$	184,190		$	169,680		$	159,213
Fair value of assets	$	123,826		$	122,033		$	118,693

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	126,380		$	116,277		$	124,138
Service cost		-			-			-
Interest cost		4,417			4,854			4,804
Plan curtailment		-			-			-
Benefits paid		(5,682	)		(5,565	)		(4,786	)
Actuarial (gain) loss		13,016			10,814			(7,879	)
Benefit obligation at end of year	$	138,131		$	126,380		$	116,277

Weighted average assumptions – benefit obligation
Discount rate		2.73	%		3.56	%		4.27	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	85,150		$	82,140		$	81,928
Actual return on plan assets		1,071			4,132			1,645
Employer contributions		6,753			4,443			3,353
Benefits paid		(5,682	)		(5,565	)		(4,786	)
Fair value of plan assets at end of year		87,292			85,150			82,140
Funded status at end of year	$	(50,839	)	$	(41,230	)	$	(34,137	)

Amounts recognized in balance sheet
Current liability	$	(373	)	$	(324	)	$	(67	)
Noncurrent liability		(50,466	)		(40,906	)		(34,070	)
Net amount recognized in balance sheet	$	(50,839	)	$	(41,230	)	$	(34,137	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.56	%		4.27	%		3.92	%
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
Accumulated loss	$	(14,507	)	$	(13,196	)	$	(2,731	)
Amounts not yet recognized as a component of net periodic benefit cost		(14,507	)		(13,196	)		(2,731	)
Accumulated contributions less than net periodic benefit cost		(36,332	)		(28,034	)		(31,406	)
Net amount recognized	$	(50,839	)	$	(41,230	)	$	(34,137	)
Components of net periodic benefit cost
Interest cost	$	4,417		$	4,854		$	4,804
Expected return on plan assets		(4,249	)		(4,067	)		(4,026	)
Recognized actuarial loss		14,883			284			26
Net periodic benefit cost	$	15,051		$	1,071		$	804

Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss		(38	)		(38	)		(28	)

Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation	$	138,131		$	126,380		$	116,277
Accumulated benefit obligation	$	138,131		$	126,380		$	116,277
Fair value of assets	$	87,292		$	85,150		$	82,140

	20 20			201 9			201 8
Change in benefit obligation
Benefit obligation at beginning of year	$	43,300		$	42,936		$	45,558
Interest cost		1,000			1,159			1,273
Exchange rate changes		(1,013	)		(1,697	)		707
Benefits paid		(1,521	)		(1,652	)		(1,703	)
Actuarial (gain) loss		4,293			2,554			(2,899	)
Benefit obligation at end of year	$	46,059		$	43,300		$	42,936
Weighted average assumptions - benefit obligation
Discount rate		1.59	%		2.39	%		2.80	%
Rate of compensation increase		n/a			n/a			n/a

Change in plan assets
Fair value of plan assets at beginning of year	$	36,883		$	36,553		$	35,850
Actual return on plan assets		1,092			2,457			900
Employer contributions		934			970			1,013
Benefits paid		(1,521	)		(1,652	)		(1,703	)
Exchange rate changes		(854	)		(1,445	)		493
Fair value of plan assets at end of year		36,534			36,883			36,553
Funded status at end of year	$	(9,525	)	$	(6,417	)		(6,383	)
Amounts recognized in balance sheet
Noncurrent liability		(9,525	)		(6,417	)		(6,383	)
Net amount recognized in balance sheet	$	(9,525	)	$	(6,417	)	$	(6,383	)

Weighted average assumptions – net periodic benefit cost

Discount rate		2.39	%		2.80	%		2.73	%
Rate of compensation increase		n/a			n/a			n/a
Return on plan assets		2.62	%		2.98	%		3.01	%

Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss	$	(4,608	)	$	(2,394	)	$	(1,307	)
Amounts not yet recognized as a component of net periodic benefit cost		(4,608	)		(2,394	)		(1,307	)
Accumulated net periodic benefit cost in excess of contributions		(4,917	)		(4,023	)		(5,076	)
Net amount recognized	$	(9,525	)	$	(6,417	)	$	(6,383	)



Components of net periodic benefit cost
Interest cost		1,000			1,159			1,273
Expected return on plan assets		(944	)		(1,062	)		(1,114	)
Amortization of net loss		1,870			—			—
Net periodic benefit cost	$	1,926		$	97		$	159

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	$	46,059		$	43,300		$	42,936
Accumulated benefit obligation	$	46,059		$	43,300		$	42,936
Fair value of assets	$	36,534		$	36,883		$	36,553

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

	20 20			201 9			201 8
Change in benefit obligation:
Benefit obligation at beginning of year	$	6,930		$	6,385		$	7,086
Service cost		73			72			85
Interest cost		240			265			270
Benefits paid		(329	)		(346	)		(388	)
Actuarial (gain) loss		791			554			(668	)
Benefit obligation at end of year	$	7,705		$	6,930		$	6,385

Weighted average assumptions: benefit obligations
Discount rate		2.73	%		3.56	%		4.27	%
Rate of compensation increase		2.64	%		2.64	%		2.64	%

Change in plan assets
Employer contributions		329			346			388
Benefits paid, net of employee contributions		(329	)		(346	)		(388	)
Fair value of plan assets at end of year		—			—			—

Amounts recognized in balance sheet
Current postretirement benefit obligation	$	(358	)	$	(353	)	$	(339	)
Non-current postretirement benefit obligation		(7,347	)		(6,577	)		(6,046	)
Net amount recognized in balance sheet	$	(7,705	)	$	(6,930	)	$	(6,385	)

Weighted average assumptions – net periodic benefit cost
Discount rate		3.56	%		4.27	%		3.92	%
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	$	2,240		$	2,777		$	3,314
Accumulated gain (loss)		(2,160	)		(1,452	)		(928	)
Amounts not yet recognized as a component of net periodic benefit cost		80			1,325			2,386
Net periodic benefit cost in excess of accumulated contributions		(7,785	)		(8,255	)		(8,771	)
Net amount recognized	$	(7,705	)	$	(6,390	)	$	(6,385	)
Components of net periodic benefit cost
Service cost	$	73		$	72		$	85
Interest cost		240			265			270
Amortization of prior service credit		(537	)		(537	)		(537	)
Amortization of accumulated loss		83			30			99
Net periodic benefit cost	$	(141	)	$	(170	)	$	(83	)
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit	$	537		$	537		$	537
Net loss		(166	)		(83	)		(30	)
	$	371		$	454		$	507

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

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

	1% Increase
	20 20		201 9		201 8
Effect on postretirement benefit obligation	$	1	$	1	$	1

	1% Decrease
	20 20			201 9			201 8
Effect on postretirement benefit obligation	$	(1	)	$	(1	)	$	(1	)

Schedule of Expected Benefit Payments [Table Text Block]

Fiscal Year	Pension		Other Benefits
2021	$	7,913	$	358
2022		8,250		363
2023		8,610		353
2024		8,643		358
2025		9,150		364
After		56,032		1,889
	$	98,598	$	3,685

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Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Allowance for doubtful accounts	$ 736	$ 685
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, outstanding (in shares)	6,308,025	6,206,525
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, outstanding (in shares)	679,680	689,577

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Note 13 - Debt (Tables)

Schedule of Debt [Table Text Block]

	June 30, 2020		June 30, 2019
Short-term and current maturities
Loan and Security Agreement (Bytewise)	$	-	$	1,765
Loan and Security Agreement (Term Loan)		597		-
Brazil Loans		3,935		2,300
		4,532		4,065
Long-term debt (net of current portion)
Loan and Security Agreement (Bytewise)		-		2,641
Loan and Security Agreement (Term Loan)		5,941		-
Loan and Security Agreement (Line of Credit)		20,400		14,900
		26,341		17,541
	$	30,873	$	21,606

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

Fiscal Year
2021		4,532
2022		21,629
2023		1,280
2024		1,332
2025		1,386
Thereafter		714
Total	$	30,873

Schedule of Short-term Debt [Table Text Block]

Lending Institution	Interest Rate			Beginning Date	Ending Date	Outstanding Balance
Bradesco		5.18	%	May 2020	May 2021	$	1,000
Santander Bank		8.12	%	April 2020	April 2021		959
Brazil Bank		3.10	%	February 2020	February 2021		500
Brazil Bank		6.05	%	March 2020	February 2021		1,000
Brazil Bank		2.40	%	March 2020	February 2021		300
Brazil Bank		3.11	%	September 2019	September 2020		177
						$	3,936

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

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

	Year Ended June 30, 20 20
	North America			International			Unallocated			Total
Sales 1	$	121,834		$	79,617		$	-		$	201,451
Goodwill and intangibles impairment		(6,496	)		-			-			(6,496	)
Restructuring		(341	)		(1,239	)		-			(1,580	)
Operating income		(2,055	)		3,841			(7,090	)		(5,303	)
Capital expenditures and software development		6,992			3,608			-			10,600
Depreciation and amortization		4,942			2,253			-			7,195
Current assets 4		35,030			55,610			13,458			104,098
Long-lived assets 5		34,354			13,213			21,018			68,585

	Year Ended June 30, 201 9
	North America		International		Unallocated			Total
Sales 2	$	136,387	$	91,635	$	-		$	228,022
Operating income (loss)		9,468		8,043		(6,209	)		11,221
Capital expenditures and software development		3,617		6,610		-			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 3	$	128,442	$	87,886	$	-		$	216,328
Operating income (loss)		8,175		2,128		(5,579	)		4,724
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

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

Sales	Year Ended June 30,
	20 20		201 9		201 8
North America
United States	$	113,989	$	127,359	$	119,226
Canada & Mexico		7,845		9,028		9,216
		121,834		136,387		128,442
International
Brazil		49,254		54,324		49,726
United Kingdom		18,869		24,042		25,099
China		6,048		7,370		7,323
Australia & New Zealand		5,446		5,899		5,738
		79,617		91,635		87,886
Total Sales	$	201,451	$	228,022	$	216,328

Long-lived Assets	Year Ended June 30,
	2020		2019		2018
North America
United States	$	34,264	$	35,594	$	37,437
Canada & Mexico		90		44		52
		34,354		35,638		37,489
International
Brazil		8,050		10,067		8,662
United Kingdom		1,948		2,046		1,876
China		2,881		1,944		2,346
Australia & New Zealand		334		111		126
		13,213		14,168		13,010

Total Long-Lived Assets	$	47,567	$	49,806	$	50,499

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

Quarterly Financial Information [Table Text Block]

Quarter Ended	Net Sales		Gross Margin		Earnings / (Loss) Before Income Taxes			Net Earnings / (Loss)			Basic and Diluted Earnings / (Loss) Per Share
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
September 2019	$	52,114	$	17,703	$	1,276		$	778		$	0.11
December 2019		56,864		18,836		1,875			1,260			0.18
March 2020		49,998		14,844		287			613			0.09
June 2020		42,475		10,827		(23,435	)		(24,490	)		(3.52	)
	$	201,451	$	62,210	$	(19,997	)	$	(21,839	)	$	(3.14	)

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Schedule II - Valuation and Qualifying Accounts (Tables)

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, 2020	$	685	$	244		$	(155	)	$	(38	)	$	736
Year Ended June 30, 2019		1,277		(91	)		(5	)		(496	)		685
Year Ended June 30, 2018		946		538			(71	)		(137	)		1,277

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

Year Ended June 30, 2020	$	6,743	$	2,068	$	-	$	-	$	8,811
Year Ended June 30, 2019		4,999		1,744		-		-		6,743
Year Ended June 30, 2018		2,922		2,077		-		-		4,999

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Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Cash, Ending Balance	$ 13,458	$ 15,582
Accounts Receivable, Credit Loss Expense (Reversal)	200	(100)	$ 500
Construction in Progress, Gross	600	1,900
Impairment of Intangible Assets, Finite-lived	2,800	0	0
Goodwill, Impairment Loss	3,700
Contract with Customer, Asset, after Allowance for Credit Loss, Total	0	0
Contract with Customer, Liability, Total	400	300
Accounts Receivable, Allowance for Credit Loss, Ending Balance	700	700
Advertising Expense	3,600	5,000	5,100
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax, Total	16,900	300	100
Undistributed Earnings of Foreign Subsidiaries	56,400
Research and Development Expense, Total	$ 3,800	$ 3,700	$ 3,600
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total (in shares)	86,065	68,378	23,771
Foreign Exchange Contract [Member]
Derivative, Notional Amount	$ 0	$ 0
Prepaid Expenses and Other Current Assets [Member]
Contract with Customer, Right to Recover Product, Total	100	100
Accrued Expenses [Member]
Contract with Customer, Refund Liability, Total	$ 200	200
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	8 years
Software Developement [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Minimum [Member] \| Patents [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Minimum [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	14 years
Minimum [Member] \| Completed Technology [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Minimum [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	8 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years
Maximum [Member] \| Patents [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Maximum [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years
Maximum [Member] \| Completed Technology [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Maximum [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	16 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	50 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	12 years
United Kingdom, Pounds
Cash, Ending Balance	$ 4,300	4,600
Brazil, Brazil Real
Cash, Ending Balance	700	2,600
Non-US [Member]
Cash, Ending Balance	$ 7,100	$ 8,900

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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, 2020	Jun. 30, 2019	Jun. 30, 2018
Cost of Sales [Member]
Cost of goods sold decrease	$ 12,790	$ 710	$ 582
Selling, General and Administrative Expenses [Member]
Cost of goods sold decrease	3,963	220	212
Other Nonoperating Income (Expense) [Member]
Cost of goods sold decrease	$ (16,753)	$ (930)	$ (794)

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Note 3 - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Sep. 05, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					500,000
The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	119,533
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	2 years 182 days
Share-based Payment Arrangement, Expense	$ 345,000	$ 232,000	$ 134,000
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 (Year)	2 years 36 days
Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	99,193	87,133	70,515	77,285
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	86,946	55,227	63,607
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares)	54,271	26,628	52,816
Share-based Payment Arrangement, Expense	$ 100,000	$ 100,000	$ 100,000
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 (Year)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	0	0	0
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 (in shares)	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares)	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 (Year)	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)	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	46.72%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	48.95%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.17%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.66%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)	2 years
Restricted Stock Units (RSUs) [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	242,840
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	110,500	67,000	62,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 5.34	$ 6.34	$ 7.22
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	64,661	10,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 800,000	$ 1,300,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	2,000,000
Portion Relating to RSU Grants Not Expected to be Awarded [Member] \| The 2012 Stock Incentive Plan [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,700,000
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 (Year)	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 (Year)	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 (Year)	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	0.00%
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 (Year)	3 years

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Note 3 - Stock-based Compensation - Summary of Stock Option Activity (Details) - Employee Stock Purchase Plan ESPP [Member] - $ / shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Balance, July 1, 2017 (in shares)	87,133	70,515	77,285
Balance, July 1, 2017 (in dollars per share)
Options granted (in shares)	86,946	55,227	63,607
Options granted, Weighted Average Exercise Price (in dollars per share)	$ 3.63	$ 5.45	$ 6.35
Shares Available for Grant, Options Granted (in shares)	(86,946)	(55,227)	(63,607)
Options exercised (in shares)	(20,615)	(11,981)	(17,561)
Options exercised, Weighted Average Exercise Price (in dollars per share)	$ 3.52	$ 5.72	$ 6.69
Options canceled (in shares)	(54,271)	(26,628)	(52,816)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares)	54,271	26,628	52,816
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	86,946	55,227	63,607
Balance (in shares)	99,193	87,133	70,515
Balance , Weighted Average Exercise Price (in dollars per share)
Shares Available For Grant [Member]
Balance, July 1, 2017 (in shares)	412,867	450,007	365,581
Shares Available for Grant, Plan Expired (in shares)			(365,581)
Shares Available for Grant, Plan Authorized (in shares)			500,000
Options granted (in shares)	86,946	55,227	63,607
Shares Available for Grant, Options Granted (in shares)	(86,946)	(55,227)	(63,607)
Options canceled (in shares)	(54,271)	(18,087)	(13,614)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares)	54,271	18,087	13,614
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	86,946	55,227	63,607
Shares Available for Grant (in shares)	380,192	412,867	450,007

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Note 3 - Stock-based Compensation - Stock Options Outstanding Weighted Average Fair Value (Details) - Employee Stock Purchase Plan ESPP [Member] - $ / shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Weighted average remaining life (years) (Year)	1 year 109 days
Weighted average fair value on grant date of options granted (in dollars per share)	$ 1.63	$ 2.28	$ 2.23

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Note 4 - Cash (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Cash, Ending Balance	$ 13,458	$ 15,582
United Kingdom, Pounds
Cash, Ending Balance	4,300	4,600
Brazil, Brazil Real
Cash, Ending Balance	700	2,600
Non-US [Member]
Cash, Ending Balance	$ 7,100	$ 8,900

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Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Net sales	$ 201,451	$ 228,022	$ 216,328
Cost of goods sold	139,241	153,081	146,771
Gross margin	$ 62,210	$ 74,941	$ 69,557
% of net sales	30.90%	32.90%	32.20%
Selling, general and administrative expenses	$ 59,437	$ 63,720	$ 64,039
Restructuring charges	1,580
Goodwill and intangibles impairment	6,496
Operating income (loss)	(5,303)	11,221	5,518
Other (expense) income	(14,694)	(1,611)	(653)
Earnings (loss) before income taxes	(19,997)	9,610	4,865
Income tax expense	1,842	3,531	8,498
Net earnings (loss)	$ (21,839)	$ 6,079	$ (3,633)
Basic and diluted earnings (loss) per share (in dollars per share)	$ (3.14)	$ 0.87	$ (0.52)
Average outstanding shares used in per share calculations:
Basic (in shares)	6,949	6,957	7,014
Diluted (in shares)	6,949	7,026	7,014
Dividends (in dollars per share)	$ 0	$ 0	$ 0.20

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Note 5 - Inventories (Details Textual) - USD ($)	12 Months Ended
Note 5 - Inventories (Details Textual) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Inventory, Net, Total	$ 52,987,000	$ 61,790,000
Inventory, LIFO Reserve	24,541,000	23,280,000
FIFO Inventory Amount	33,100	33,200,000
LIFO Inventory Amount	8,600,000	9,800,000
Cost of Sales [Member]
Inventory, LIFO Reserve, Effect on Income, Net, Total	$ 1,300,000	$ 1,600,000

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Note 5 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Raw materials and supplies	$ 26,255	$ 26,106
Goods in process and finished parts	13,694	17,464
Finished goods	37,579	41,500
Total, before LIFO Reserve	77,528	85,070
LIFO reserve	(24,541)	(23,280)
Total	$ 52,987	$ 61,790

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Note 6 - Goodwill and Intangibles (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Amortization of Intangible Assets, Total	$ 1,900	$ 2,300	$ 2,000
Goodwill, Gross	$ 4,668	4,668
COVID-19 Impact, Expected Annualized Revenue Reduction, Remainder of Fiscal Year	25.00%
Impairment of Intangible Assets, Finite-lived	$ 2,800	0	$ 0
Goodwill, Impairment Loss	3,700
Private Software Company [Member]
Goodwill, Gross	1,634	1,634
Impairment of Intangible Assets, Finite-lived	2,900
Goodwill, Impairment Loss	619
Bytewise [Member]
Goodwill, Gross	3,034	3,034
Goodwill, Impairment Loss	$ 3,034
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure		0
Financial and Nonfinancial Liabilities, Fair Value Disclosure		$ 0

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Note 6 - Goodwill and Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Goodwill, Gross	$ 4,668	$ 4,668
Goodwill impairment	(3,653)
Goodwill	1,015	4,668
Identifiable intangible assets, cost	14,155	18,707
Identifiable intangible assets, accumulated amortization	(6,316)	(10,247)
Identifiable intangible assets impairment	(2,842)
Identifiable intangible assets	4,997	8,460
Bytewise [Member]
Goodwill, Gross	3,034	3,034
Goodwill impairment	(3,034)
Goodwill		3,034
Private Software Company [Member]
Goodwill, Gross	1,634	1,634
Goodwill impairment	(619)
Goodwill	$ 1,015	$ 1,634

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Note 6 - Goodwill and Intangibles - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Intangible assets, gross	$ 14,155	$ 18,707
Accumulated amortization	(6,316)	(10,247)
Intangibles impairment	(2,842)
Total net balance	4,997	8,460
Noncompete Agreements [Member]
Intangible assets, gross		600
Trademarks and Trade Names [Member]
Intangible assets, gross	2,070	2,070
Completed Technology [Member]
Intangible assets, gross	2,010	2,010
Customer Relationships [Member]
Intangible assets, gross	630	5,580
Software Developement [Member]
Intangible assets, gross	9,445	8,122
Other Intangible Assets [Member]
Intangible assets, gross		$ 325

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Note 6 - Goodwill and Intangibles - Estimated Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
2021	$ 1,377
2022	1,162
2023	928
2024	657
2025	501
Thereafter	373
Total net balance	$ 4,997	$ 8,460

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Note 6 - Goodwill and Intangibles - Assets on Non-recurring Basis (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2020 USD ($)
Goodwill, Impairment Loss	$ 3,700
Private Software Company [Member]
Goodwill, Impairment Loss	619
Bytewise [Member]
Goodwill, Impairment Loss	3,034
Fair Value, Nonrecurring [Member] \| Reported Value Measurement [Member] \| Private Software Company [Member]
Goodwill	1,015
Fair Value, Nonrecurring [Member] \| Reported Value Measurement [Member] \| Bytewise [Member]
Goodwill
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Private Software Company [Member] \| Fair Value, Inputs, Level 1 [Member]
Goodwill
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Private Software Company [Member] \| Fair Value, Inputs, Level 2 [Member]
Goodwill
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Private Software Company [Member] \| Fair Value, Inputs, Level 3 [Member]
Goodwill	1,015
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Bytewise [Member] \| Fair Value, Inputs, Level 1 [Member]
Goodwill
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Bytewise [Member] \| Fair Value, Inputs, Level 2 [Member]
Goodwill
Fair Value, Nonrecurring [Member] \| Estimate of Fair Value Measurement [Member] \| Bytewise [Member] \| Fair Value, Inputs, Level 3 [Member]
Goodwill

XML 66 R57.htm IDEA: XBRL DOCUMENT

Note 7 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Depreciation, Total	$ 5,206	$ 5,047	$ 5,462

XML 67 R58.htm IDEA: XBRL DOCUMENT

Note 7 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Cost	$ 160,390	$ 163,368
Accumulated Depreciation	(123,300)	(126,689)
Net	37,090	36,679
Land [Member]
Cost	1,186	1,210
Accumulated Depreciation
Net	1,186	1,210
Building and Building Improvements [Member]
Cost	43,641	44,772
Accumulated Depreciation	(29,966)	(30,427)
Net	13,675	14,345
Machinery and Equipment [Member]
Cost	115,563	117,386
Accumulated Depreciation	(93,334)	(96,262)
Net	$ 22,229	$ 21,124

XML 68 R59.htm IDEA: XBRL DOCUMENT

Note 8 - Leases (Details Textual) $ in Millions	12 Months Ended
Note 8 - Leases (Details Textual) $ in Millions	Jun. 30, 2020 USD ($)
Operating Lease, Cost	$ 9.0
Operating Lease, Weighted Average Remaining Lease Term (Year)	4 years 73 days
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0.3

XML 69 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Net earnings (loss)	$ (21,839)	$ 6,079	$ (3,633)
Other comprehensive (loss) income:
Currency translation (loss), net of tax	(12,316)	(593)	(5,603)
Pension and postretirement plans, net of tax of $(962), $(3,140) and $1,908, respectively	(3,818)	(9,488)	6,428
Other comprehensive (loss) income	(16,134)	(10,081)	825
Total comprehensive (loss)	$ (37,973)	$ (4,002)	$ (2,808)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 8 - Leases - Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Operating leases, Right-of-Use Assets	$ 4,465
Operating leases. Operating Lease Obligations	4,560
Operating leases, Remaining Cash Commitment	$ 5,422

XML 71 R61.htm IDEA: XBRL DOCUMENT

Note 8 - Leases - Operating Lease Commitments (Details) $ in Thousands	Jun. 30, 2020 USD ($)
2021	$ 2,228
2022	928
2023	734
2024	707
2025	349
Thereafter	476
Subtotal	5,422
Imputed Interest	(862)
Operating leases. Operating Lease Obligations	$ 4,560

XML 72 R62.htm IDEA: XBRL DOCUMENT

Note 9 - Restructuring Cost (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
Note 9 - Restructuring Cost (Details Textual) - USD ($)	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Restructuring Charges, Total	$ 1,600,000	$ 1,580,000
Restructuring and Related Cost, Expected Cost Remaining	2,400,000	2,400,000
Restructuring Reserve, Ending Balance	1,100,000	1,100,000
Employee Severance [Member]
Restructuring Charges, Total		600,000
Equipment Related, Freight and Other Costs [Member]
Restructuring Charges, Total		1,000,000
Restructuring and Related Cost, Expected Cost Remaining	2,400,000	2,400,000
Restructuring Reserve, Ending Balance	$ 1,100,000	$ 1,100,000

XML 73 R63.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, 2020	Jun. 30, 2019	Jun. 30, 2018
Interest income	$ 90	$ 71	$ 128
Interest expense	(975)	(976)	(845)
Foreign currency gain (loss), net	140	(426)	(316)
Brazil tax settlements	2,544	345	1,446
Patent lawsuit settlement			(666)
Sale of scrap material	100	110	70
Other income (expense), net	160	195	324
Nonoperating Income (Expense), Total	(14,694)	(1,611)	(653)
Pension [Member]
Pension net periodic benefit cost (NPBC)	$ (16,753)	$ (930)	$ (794)

XML 74 R64.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
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 (Rate)										10.50%
Effective Income Tax Rate Reconciliation, Percent, Total									(9.20%)	36.70%	174.70%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ (23,435)	$ 287	$ 1,875	$ 1,276	$ 2,632	$ 3,045	$ 2,991	$ 942	$ (19,997)	$ 9,610	$ 4,865
Effective Income Tax Rate Reconciliation, Before Tax Cuts and Jobs Act, Percent											44.70%
Deferred Tax Assets, Net of Valuation Allowance, Total	21,000								21,000
Deferred Tax Assets, Valuation Allowance, Total	8,811				6,743				8,811	6,743
Unrecognized Tax Benefits, Ending Balance	11,106				10,939				11,106	10,939	$ 10,882	$ 11,588
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	7,700				5,600				7,700	5,600	$ 5,400
Income Taxes Receivable, Noncurrent	0				$ 1,666				0	1,666
Decrease in Unrecognized Tax Benefits is Reasonably Possible	100								100
Unrecognized Tax Benefits, Interest on Income Taxes Expense									100
Undistributed Earnings of Foreign Subsidiaries	56,400								56,400
Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	800								800
Foreign Tax Authority [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount									2,100	$ 1,700
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	2,300								2,300
Tax Credit Carryforward, Amount	7,200								$ 7,200
Foreign Tax Authority [Member] \| Secretariat of the Federal Revenue Bureau of Brazil [Member]
Effective Income Tax Rate Reconciliation, Percent, Total									34.00%
Domestic Tax Authority [Member]
Deferred Tax Assets, Net of Valuation Allowance, Total	26,900								$ 26,900
Deferred Tax Assets, Valuation Allowance, Total	8,800								8,800
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	3,400								3,400
State and Local Jurisdiction [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	1,700								1,700
Tax Credit Carryforward, Amount	$ 600								$ 600

XML 75 R65.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, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ (23,435)	$ 287	$ 1,875	$ 1,276	$ 2,632	$ 3,045	$ 2,991	$ 942	$ (19,997)	$ 9,610	$ 4,865
Domestic Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									(24,450)	1,507	1,351
Foreign Operations [Member]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									$ 4,453	$ 8,103	$ 3,514

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Note 11 - Income Taxes - Provision (Benefit) For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Federal	$ (19)	$ (106)	$ (991)
Foreign	3,633	2,398	2,256
State	30	37	5
Federal	(1,514)	1,139	6,772
Foreign	53	(172)	(396)
State	(341)	235	852
Income Tax Expense (Benefit), Total	$ 1,842	$ 3,531	$ 8,498

XML 77 R67.htm IDEA: XBRL DOCUMENT

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 11 - Income Taxes - Reconciliation of Expected Tax Expense (Benefit) to Actual Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Expected tax (benefit) expense	$ (4,199)	$ 2,018	$ 1,365
State taxes, net of federal effect	(1,042)	(5)
Foreign taxes, net of federal credits	1,210	(1,055)	(1,010)
Change in valuation allowance	1,996	1,744	2,074
Tax reserve adjustments	1,946	(66)	(38)
Return to provision and other adjustments	372	(57)	(72)
Goodwill impairment	130
Tax rate change applied to deferred tax balances	54	(129)	6,324
Global intangible low taxed income	1,558	1,121
Other permanent items	(183)	(40)	(145)
Actual tax (benefit) expense	$ 1,842	$ 3,531	$ 8,498

XML 78 R68.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Deferred Income Taxes (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Inventories	$ 1,339	$ 1,361
Employee benefits (other than pension)	684	840
Operating lease liabilities	1,111
Book reserves	695	601
Federal NOL, various carryforward periods	716	66
State NOL, various carryforward periods	1,719	1,224
Foreign NOL, various carryforward periods	388	309
Foreign tax credit carryforward, expiring 2023 – 2028	7,212	7,329
Pension benefits	13,175	10,289
Retiree medical benefits	1,961	1,778
Depreciation	(186)	(17)
Intangibles	580
Intangibles		(630)
Right of use assets	(1,088)
Federal research and development and AMT credit carryforward	817	786
Other temporary taxable differences	(698)
Other temporary deductible differences	1,404	1,446
Total deferred tax assets	29,828	25,382
Valuation allowance	(8,811)	(6,743)
Net deferred tax asset	$ 21,018	$ 18,639

XML 79 R69.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes - Reconciliations of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Balance at July 1, 2017	$ (10,939)	$ (10,882)	$ (11,588)
Increase for tax positions taken during the current period	(326)	(215)	(287)
Increase for tax positions taken during the prior period	(188)		(67)
Effect of exchange rate changes	299	16	130
Decrease relating to lapse of applicable statute of limitations	48	137	930
Decrease for tax positions taken during the prior period		5
Balance	$ (11,106)	$ (10,939)	$ (10,882)

XML 80 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive (Loss) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Pension and postretirement plans, tax	$ (962)	$ (3,140)	$ 1,908

XML 81 R70.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit and Retirement Plans (Details Textual) - USD ($)		12 Months Ended
	Dec. 31, 2013	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Pension Cost (Reversal of Cost)			$ 18,600,000	$ 2,800,000	$ 2,700,000
Defined Contribution Plan, Employer Discretionary Contribution Amount			1,600,000	1,700,000	$ 1,800,000
Pension Expense (Reversal of Expense), Noncash			16,800,000
Defined Benefit Plan, Amortization of Gain (Loss)			16,800,000	300,000
Fair Value of the Company's Common Stock			$ 2,200,000	$ 4,600,000
US Domestic Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate			2.73%	3.56%	4.27%
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			$ 7,000,000
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			1.59%	2.39%	2.80%
Defined Benefit Plan, Amortization of Gain (Loss)			$ (1,870,000)
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets			2.62%	2.98%	3.01%
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year			$ 900,000
UK Plan [Member] \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance			5,400,000
UK Plan [Member] \| Forecast [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		2.60%
US and UK Plans Combined [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance			$ 123,826,000
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%

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Note 12 - Employee Benefit and Retirement Plans - Actual Asset Allocation For The Assets Within The Company's Plans (Details)	Jun. 30, 2020	Jun. 30, 2019
Asset allocation	100.00%	100.00%
Cash and Cash Equivalents [Member]
Asset allocation	4.00%	2.00%
Fixed Income Securities [Member]
Asset allocation	27.00%	31.00%
Equity Securities [Member]
Asset allocation	40.00%	35.00%
Mutual and Pooled Funds [Member]
Asset allocation	29.00%	32.00%

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Note 12 - Employee Benefit and Retirement Plans - Portfolio by Valuation Category (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Asset Allocation	100.00%	100.00%
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 54,112	$ 45,809
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	64,315	76,224
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Fair Value, Inputs, Level 1, 2 and 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 118,427	$ 122,033
Cash Equivalents [Member]
Asset Allocation	4.00%	2.00%
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 5,165	$ 1,818
Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Cash Equivalents [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1, 2 and 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 5,165	$ 1,818
Fixed Income Securities [Member]
Asset Allocation	27.00%	31.00%
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	32,740	38,232
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 1, 2 and 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 32,740	$ 38,232
Equity Securities [Member]
Asset Allocation	40.00%	35.00%
Equity Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 48,947	$ 41,629
Equity Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	888	1,482
Equity Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Equity Securities [Member] \| Fair Value, Inputs, Level 1, 2 and 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 49,835	$ 43,111
Mutual and Pooled Funds [Member]
Asset Allocation	29.00%	32.00%
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance		$ 2,362
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	30,687	36,510
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance
Mutual and Pooled Funds [Member] \| Fair Value, Inputs, Level 1, 2 and 3 [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 30,687	$ 38,872

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Note 12 - Employee Benefit and Retirement Plans - Status of Defined Benefit Plans (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Amounts recognized in balance sheet
Amortization of net loss	$ (16,800,000)	$ (300,000)
US and UK Plans Combined [Member]
Benefit obligation at beginning of year	169,680,000	159,213,000	$ 169,696,000
Interest cost	5,417,000	6,013,000	6,077,000
Exchange rate changes	(1,013,000)	(1,697,000)	707,000
Benefits paid	(7,203,000)	(7,217,000)	(6,489,000)
Actuarial (gain) loss	17,309,000	13,368,000	(10,778,000)
Actual return on plan assets	2,163,000	6,589,000	2,545,000
Employer contributions	7,687,000	5,413,000	4,366,000
Benefits paid	(7,203,000)	(7,217,000)	(6,489,000)
Exchange rate changes	(845,000)	(1,445,000)	493,000
Funded status at end of year	(60,364,000)	(47,647,000)	(40,520,000)
Amounts recognized in balance sheet
Current liability	(373,000)	(324,000)	(67,000)
Noncurrent liability	(59,991,000)	(47,323,000)	(40,453,000)
Net amount recognized in balance sheet	(60,364,000)	(47,647,000)	(40,520,000)
Accumulated loss	(19,113,000)	(15,590,000)	(4,038,000)
Amounts not yet recognized as a component of net periodic benefit cost	(19,113,000)	(15,590,000)	(4,038,000)
Accumulated net periodic benefit cost in excess of contributions	(41,249,000)	(32,057,000)	(36,482,000)
Interest cost	5,417,000	6,013,000	6,077,000
Expected return on plan assets	(5,193,000)	(5,129,000)	(5,140,000)
Recognized actuarial loss	16,753,000	284,000	26,000
Net periodic benefit cost	16,977,000	1,168,000	963,000
Net loss	(53,000)	(38,000)	(28,000)
Projected benefit obligation	184,190,000	169,680,000	159,213,000
Accumulated benefit obligation	184,190,000	169,680,000	159,213,000
Fair value of assets	123,826,000	122,033,000	118,693,000
Benefit obligation at beginning of year	169,680,000	159,213,000	169,696,000
Benefits paid	(7,203,000)	(7,217,000)	(6,489,000)
Actuarial (gain) loss	17,309,000	13,368,000	(10,778,000)
Actual return on plan assets	2,163,000	6,589,000	2,545,000
Employer contributions	7,687,000	5,413,000	4,366,000
Benefits paid	(7,203,000)	(7,217,000)	(6,489,000)
Funded status at end of year	(60,364,000)	(47,647,000)	(40,520,000)
Exchange rate changes	(1,013,000)	(1,697,000)	707,000
Benefit obligation at end of year	184,190,000	169,680,000	159,213,000
Benefits paid	(7,203,000)	(7,217,000)	(6,489,000)
Exchange rate changes	(845,000)	(1,445,000)	493,000
US and UK Plans Combined [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year	122,033,000	118,693,000	117,778,000
Amounts recognized in balance sheet
Fair value of plan assets at beginning of year	122,033,000	118,693,000	117,778,000
Fair value of plan assets at end of year	123,826,000	122,033,000	118,693,000
US Domestic Plan [Member]
Benefit obligation at beginning of year	126,380,000	116,277,000	124,138,000
Interest cost	4,417,000	4,854,000	4,804,000
Benefits paid	(5,682,000)	(5,565,000)	(4,786,000)
Actuarial (gain) loss	13,016,000	10,814,000	(7,879,000)
Actual return on plan assets	1,071,000	4,132,000	1,645,000
Employer contributions	6,753,000	4,443,000	3,353,000
Benefits paid	(5,682,000)	(5,565,000)	(4,786,000)
Funded status at end of year	(50,839,000)	(41,230,000)	(34,137,000)
Amounts recognized in balance sheet
Current liability	(373,000)	(324,000)	(67,000)
Noncurrent liability	(50,466,000)	(40,906,000)	(34,070,000)
Net amount recognized in balance sheet	(50,839,000)	(41,230,000)	(34,137,000)
Accumulated loss	(14,507,000)	(13,196,000)	(2,731,000)
Amounts not yet recognized as a component of net periodic benefit cost	(14,507,000)	(13,196,000)	(2,731,000)
Accumulated net periodic benefit cost in excess of contributions	(36,332,000)	(28,034,000)	(31,406,000)
Interest cost	4,417,000	4,854,000	4,804,000
Expected return on plan assets	(4,249,000)	(4,067,000)	(4,026,000)
Recognized actuarial loss	14,883,000	284,000	26,000
Net periodic benefit cost	15,051,000	1,071,000	804,000
Net loss	(38,000)	(38,000)	(28,000)
Projected benefit obligation	138,131,000	126,380,000	116,277,000
Fair value of assets	87,292,000	85,150,000	82,140,000
Benefit obligation at beginning of year	126,380,000	116,277,000	124,138,000
Service cost
Plan curtailment
Benefits paid	(5,682,000)	(5,565,000)	(4,786,000)
Actuarial (gain) loss	$ 13,016,000	$ 10,814,000	$ (7,879,000)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.73%	3.56%	4.27%
Actual return on plan assets	$ 1,071,000	$ 4,132,000	$ 1,645,000
Employer contributions	6,753,000	4,443,000	3,353,000
Benefits paid	(5,682,000)	(5,565,000)	(4,786,000)
Funded status at end of year	$ (50,839,000)	$ (41,230,000)	$ (34,137,000)
Discount rate	3.56%	4.27%	3.92%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	5.00%	5.00%	5.00%
Accumulated benefit obligation	$ 138,131,000	$ 126,380,000	$ 116,277,000
Benefit obligation at end of year	138,131,000	126,380,000	116,277,000
Benefits paid	(5,682,000)	(5,565,000)	(4,786,000)
US Domestic Plan [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year	85,150,000	82,140,000	81,928,000
Amounts recognized in balance sheet
Fair value of plan assets at beginning of year	85,150,000	82,140,000	81,928,000
Fair value of plan assets at end of year	87,292,000	85,150,000	82,140,000
UK Plan [Member]
Benefit obligation at beginning of year	43,300,000	42,936,000	45,558,000
Interest cost	1,000,000	1,159,000	1,273,000
Exchange rate changes	(1,013,000)	(1,697,000)	707,000
Benefits paid	(1,521,000)	(1,652,000)	(1,703,000)
Actuarial (gain) loss	4,293,000	2,554,000	(2,899,000)
Actual return on plan assets	1,092,000	2,457,000	900,000
Employer contributions	934,000	970,000	1,013,000
Benefits paid	(1,521,000)	(1,652,000)	(1,703,000)
Exchange rate changes	(854,000)	(1,445,000)	493,000
Funded status at end of year	(9,525,000)	(6,417,000)	(6,383,000)
Amounts recognized in balance sheet
Noncurrent liability	(9,525,000)	(6,417,000)	(6,383,000)
Net amount recognized in balance sheet	(9,525,000)	(6,417,000)	(6,383,000)
Accumulated loss	(4,608,000)	(2,394,000)	(1,307,000)
Amounts not yet recognized as a component of net periodic benefit cost	(4,608,000)	(2,394,000)	(1,307,000)
Interest cost	1,000,000	1,159,000	1,273,000
Expected return on plan assets	(944,000)	(1,062,000)	(1,114,000)
Net periodic benefit cost	1,926,000	97,000	159,000
Projected benefit obligation	46,059,000	43,300,000	42,936,000
Fair value of assets	36,534,000	36,883,000	36,553,000
Benefit obligation at beginning of year	43,300,000	42,936,000	45,558,000
Benefits paid	(1,521,000)	(1,652,000)	(1,703,000)
Actuarial (gain) loss	$ 4,293,000	$ 2,554,000	$ (2,899,000)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.59%	2.39%	2.80%
Actual return on plan assets	$ 1,092,000	$ 2,457,000	$ 900,000
Employer contributions	934,000	970,000	1,013,000
Benefits paid	(1,521,000)	(1,652,000)	(1,703,000)
Funded status at end of year	$ (9,525,000)	$ (6,417,000)	$ (6,383,000)
Discount rate	2.39%	2.80%	2.73%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	2.62%	2.98%	3.01%
Accumulated benefit obligation	$ 46,059,000	$ 43,300,000	$ 42,936,000
Exchange rate changes	(1,013,000)	(1,697,000)	707,000
Benefit obligation at end of year	46,059,000	43,300,000	42,936,000
Benefits paid	(1,521,000)	(1,652,000)	(1,703,000)
Exchange rate changes	(854,000)	(1,445,000)	493,000
Accumulated net periodic benefit cost in excess of contributions	(4,917,000)	(4,023,000)	(5,076,000)
Amortization of net loss	1,870,000
UK Plan [Member] \| Change in Plan Assets [Member]
Fair value of plan assets at beginning of year	36,883,000	36,553,000
Amounts recognized in balance sheet
Fair value of plan assets at beginning of year	36,883,000	36,553,000
Fair value of plan assets at end of year	36,534,000	36,883,000	36,553,000
UK Plan [Member] \| Debt Security, Corporate, US [Member]
Fair value of plan assets at beginning of year	36,883,000	36,553,000	35,850,000
Amounts recognized in balance sheet
Fair value of plan assets at beginning of year	$ 36,883,000	36,553,000	35,850,000
Fair value of plan assets at end of year		$ 36,883,000	$ 36,553,000

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Note 12 - Employee Benefit and Retirement Plans - Status of the Postretirement Medical and Life Insurance Benefit Plan (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Amortization of net loss	$ (16,800,000)	$ (300,000)
U.S. Post Retirement Medical and Life Insurance Plan [Member]
Benefit obligation at beginning of year	6,930,000	6,385,000	$ 7,086,000
Service cost	73,000	72,000	85,000
Interest cost	240,000	265,000	270,000
Benefits paid	(329,000)	(346,000)	(388,000)
Actuarial (gain) loss	791,000	554,000	(668,000)
Benefit obligation at end of year	$ 7,705,000	$ 6,930,000	$ 6,385,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.73%	3.56%	4.27%
Rate of compensation increase	2.64%	2.64%	2.64%
Employer contributions	$ 329,000	$ 346,000	$ 388,000
Benefits paid	(329,000)	(346,000)	(388,000)
Fair value of plan assets at end of year
Current liability	(358,000)	(353,000)	(339,000)
Noncurrent liability	(7,347,000)	(6,577,000)	(6,046,000)
Net amount recognized in balance sheet	$ (7,705,000)	$ (6,930,000)	$ (6,385,000)
Discount rate	3.56%	4.27%	3.92%
Rate of compensation increase	2.64%	2.64%	2.64%
Prior service credit	$ 2,240,000	$ 2,777,000	$ 3,314,000
Accumulated loss	(2,160,000)	(1,452,000)	(928,000)
Amounts not yet recognized as a component of net periodic benefit cost	80,000	1,325,000	2,386,000
Accumulated net periodic benefit cost in excess of contributions	(7,785,000)	(8,255,000)	(8,771,000)
Amortization of prior service credit	(537,000)	(537,000)	(537,000)
Amortization of net loss	83,000	30,000	99,000
Net periodic benefit cost	(141,000)	(170,000)	(83,000)
Prior service credit	537,000	537,000	537,000
Net loss	(166,000)	(83,000)	(30,000)
Defined Benefit Plan, Expected Amortization, Next Fiscal Year, Total	$ 371,000	$ 454,000	$ 507,000
Healthcare cost trend rate assumed for next year		6.60%	6.60%
Rate to which the cost trend rate gradually declines		4.50%	4.50%
Year that the rate reaches the rate at which it is assumed to remain		2037	2037

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Note 12 - Employee Benefit and Retirement Plans - Effect of 1% Change in Assumed Health Care Cost Trend Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Effect on postretirement benefit obligation	$ 1	$ 1	$ 1
Effect on postretirement benefit obligation	$ (1)	$ (1)	$ (1)

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Note 12 - Employee Benefit and Retirement Plans - Future Pension and Other Benefits Payments (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Pension Plan [Member]
2021	$ 7,913
2022	8,250
2023	8,610
2024	8,643
2025	9,150
After	56,032
Defined Benefit Plan, Expected Future Benefit Payment	98,598
Other Benefits [Member]
2021	358
2022	363
2023	353
2024	358
2025	364
After	1,889
Defined Benefit Plan, Expected Future Benefit Payment	$ 3,685

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Note 13 - Debt (Details Textual) - USD ($)			3 Months Ended	9 Months Ended	12 Months Ended
Note 13 - Debt (Details Textual) - USD ($)	Dec. 31, 2019	Nov. 22, 2011	Mar. 31, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 25, 2020	Jun. 24, 2020	Dec. 30, 2019	Jun. 29, 2009
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000,000				$ 25,000,000					$ 23,000,000
Repayments of Long-term Debt, Total					$ 5,583,000	$ 3,656,000	$ 3,444,000
Line of Credit Facility, Commitment Fee Percentage					0.25%
Brazil Loans [Member]
Debt Instrument, Increase (Decrease), Net, Total			$ 200,000
First Amended of the Amended and Restated Loan Agreement [Member] \| TD Bank [Member]
Debt Instrument, Interest Rate, Stated Percentage								3.50%			2.25%
Line of Credit, Percentage of Qualified AR								80.00%			80.00%
Line of Credit, Percentage of the Lower of Cost or Market of US Inventory Values											50.00%
Line of Credit, Percentage of Net Orderly Liquidation Value of US Inventory								85.00%
Line of Credit, Percentage of Total Appraised US Real Estate Values								62.50%
Line of Credit Facility, Current Borrowing Capacity								$ 25,000,000
All Debt [Member]
Debt Instrument, Increase (Decrease), Net, Total			5,700,000	$ 6,900,000
Amendment and Restatement Loan Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity								$ 15,000,000	$ 5,000,000
Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Debt Instrument, Face Amount	$ 10,000,000
Debt Instrument, Term (Year)	5 years
Credit Limit for External Borrowing	$ 5,000,000									$ 2,500,000
Bytewise Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage		4.50%
Debt Instrument, Face Amount		$ 15,500,000
Debt Instrument, Term (Year)		10 years
Repayments of Long-term Debt, Total			3,500,000
Debt Instrument, Periodic Payment, Total		$ 160,640
Long-term Debt, Total	$ 3,500,000
Loan and Security Agreement Term Loan [Member]
Debt Agreement, Remaining Borrowing Capacity			6,500,000
Line of Credit [Member]
Debt Instrument, Increase (Decrease), Net, Total			$ 2,500,000

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Note 13 - Debt - Debt Schedule (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Short-term and current maturities	$ 4,532	$ 4,065
Outstanding Balance	3,936
Short-term and current maturities	4,532	4,065
Long-term debt (net of current portion)	26,341	17,541
Long-term debt	30,873	21,606
Bytewise Term Loan [Member]
Long-term debt (net of current portion)		2,641
Loan and Security Agreement Term Loan [Member]
Long-term debt (net of current portion)	5,941
Line of Credit [Member]
Long-term debt (net of current portion)	20,400	14,900
Bytewise Term Loan [Member]
Short-term and current maturities		1,765
Loan and Security Agreement Term Loan [Member]
Short-term and current maturities	597
Brazil Loans [Member]
Outstanding Balance	$ 3,935	$ 2,300

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Note 13 - Debt - Future Maturities of Debt (Details) $ in Thousands	Jun. 30, 2020 USD ($)
2021	$ 4,532
2022	21,629
2023	1,280
2024	1,332
2025	1,386
Thereafter	714
Total	$ 30,873

XML 91 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance, July 1, 2017 at Jun. 30, 2017	$ 6,268	$ 762	$ 55,579	$ 79,402	$ (49,985)	$ 92,026
Total comprehensive (loss) income				(3,633)	825	(2,808)
Dividends ($0.20 per share)				(1,401)		(1,401)
Repurchase of shares	(58)	(8)	(497)			(563)
Issuance of stock	20	20	279			319
Stock-based compensation	18		280			298
Conversion	54	(54)
Balance at Jun. 30, 2018	6,302	720	55,641	74,368	(49,160)	87,871
Total comprehensive (loss) income				6,079	(10,081)	(4,002)
Repurchase of shares	(154)	(5)	(791)			(950)
Issuance of stock		15	66			81
Stock-based compensation	19		360			379
Conversion	40	(40)
Transfer of historical translation adjustment				40	(40)
Balance at Jun. 30, 2019	6,207	690	55,276	80,487	(59,281)	83,379
Total						(59,281)
Total comprehensive (loss) income				(21,839)	(16,134)	(37,973)
Repurchase of shares		(6)	(20)			(26)
Issuance of stock		21	52			73
Stock-based compensation	76		454			530
Conversion	25	(25)
Balance at Jun. 30, 2020	$ 6,308	$ 680	$ 55,762	$ 58,648	(75,415)	45,983
Currency translation loss, net of taxes					(61,874)
Pension and postretirement plans, net of taxes					(13,541)
Total					$ (75,415)	$ (75,415)

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Note 13 - Debt - Short-term Debt (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Outstanding Balance	$ 3,936
Bradesco Bank [Member] \| Notes Payable to Banks [Member] \| Four Point Zero Percent Short Term Loan [Member]
Interest Rate	5.18%
Outstanding Balance	$ 1,000
Santander Bank [Member] \| Notes Payable to Banks [Member] \| Four Point Zero Percent Short Term Loan [Member]
Interest Rate	8.12%
Outstanding Balance	$ 959
Brazil Bank Member \| Notes Payable to Banks [Member] \| Three Point One Zero Percent Short-term Loan [Member]
Interest Rate	3.10%
Outstanding Balance	$ 500
Brazil Bank Member \| Notes Payable to Banks [Member] \| Two Point Four Zero Percent Short-term Loan [Member]
Interest Rate	6.05%
Outstanding Balance	$ 1,000
Brazil Bank Member \| Notes Payable to Banks [Member] \| Three Point One One Percent Short Term Loan Member
Interest Rate	2.40%
Outstanding Balance	$ 300
Brazil Bank Member \| Notes Payable to Banks [Member] \| Six Point Zero Five Percent Short-term Loan [Member]
Interest Rate	3.11%
Outstanding Balance	$ 177

XML 93 R81.htm IDEA: XBRL DOCUMENT

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

Number of Reportable Segments

North American Segment [Member]

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

International Segment [Member]

International Segment [Member] | Intersegment Eliminations [Member]

[1]	Excludes $4,040 of North American segment intercompany sales to the International segment and $13,820 intercompany sales of the International segment to the North American segment.
[2]	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.
[3]	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.

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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XML 94 R82.htm IDEA: XBRL DOCUMENT

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

10,600

7,227

5,762

North American Segment [Member]

(6,496)

Restructuring

(341)

(2,055)

9,468

8,175

6,992

3,617

3,426

International Segment [Member]

Restructuring

(1,239)

3,841

8,043

2,128

3,608

6,610

2,336

Restructuring

(7,090)

(6,209)

(5,579)

XML 95 R83.htm IDEA: XBRL DOCUMENT

[1]	Excludes $4,040 of North American segment intercompany sales to the International segment and $13,820 intercompany sales of the International segment to the North American segment.
[2]	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.
[3]	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.
[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.

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

North America Other than US [Member]

North America [Member]

Australia and New Zealand [Member]

International [Member]

[1]	Excludes $4,040 of North American segment intercompany sales to the International segment and $13,820 intercompany sales of the International segment to the North American segment.
[2]	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.
[3]	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.

XML 96 R84.htm IDEA: XBRL DOCUMENT

Note 18 - Quarterly Financial Data (Unaudited) (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Operating Income (Loss), Total	$ 2,800	$ (5,303)	$ 11,221	$ 5,518
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash, Total	16,700	$ 16,823	$ 1,000	$ 876
Fair Value, Nonrecurring [Member]
Restructuring Costs and Asset Impairment Charges, Total	$ 8,100

XML 97 R85.htm IDEA: XBRL DOCUMENT

Note 18 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($)
$ / shares in Units, $ in Thousands

Earnings Before Income Taxes

Net Earnings / (Loss)

Basic and Diluted Earnings / (Loss) Per Share (in dollars per share)

[1]	Excludes $4,040 of North American segment intercompany sales to the International segment and $13,820 intercompany sales of the International segment to the North American segment.
[2]	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.
[3]	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.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.