Note J - Shareholders' Equity

12 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Equity [Text Block]

J. SHAREHOLDERS' EQUITY

The total number of shares of common stock outstanding at June 30, 2025 and 2024 was 14,150,581 and 13,995,024, respectively. At June 30, 2025 and 2024, treasury stock consisted of 482,181 and 637,778 shares of common stock, respectively. The Company issued 155,597 and 176,956 shares of treasury stock in fiscal 2025 and 2024, respectively, to fulfill its obligations under its incentive compensation plans. The Company also recorded forfeitures of 0 and 2,413 shares of previously issued restricted stock in fiscal 2025 and 2024, respectively. The difference between the cost of treasury shares and the option price is recorded in common stock.

Under an authorization given by the Board of Directors on July 27, 2012, the Company is permitted to make open market purchases of its common stock.  The Company did not make any open market purchases during the two most recent fiscal years.  As of June 30, 2025 and 2024, 315,000 shares remain authorized for purchase.

Cash dividends per share were $0.16 and $0.12 in fiscal 2025 and 2024.

The Company is authorized to issue 200,000 shares of preferred stock, none of which have been issued. The Company has designated 150,000 shares of the preferred stock as Series A Junior Preferred Stock.

The components of accumulated other comprehensive income (loss) included in equity as of June 30, 2025 and 2024 are as follows:

	2025			2024
Translation adjustments	$	15,036		$	(849	)
Benefit plan adjustments, net of income taxes of $(322) and ($181) respectively		(11,461	)		(8,062	)
Net gain on cash flow hedge derivatives, net of income taxes of ($210) and ($210), respectively		284			504
Net (loss) gain on net investment hedge derivatives, net of income taxes of $103 and $103, respectively		(129	)		1,502
Accumulated other comprehensive income (loss)	$	3,730		$	(6,905	)

A reconciliation for the changes in accumulated other comprehensive income (loss), net of tax, by component for the years ended June 30, 2025 and June 30, 2024 is as follows:

	Translation			Benefit Plan			Cash Flow			Net Investment
	Adjustment			Adjustment			Hedges			Hedges
Balance at June 30, 2023	$	(1,582	)	$	(5,948	)	$	688		$	1,272
Other comprehensive loss before reclassifications		733			-
Amounts reclassified from accumulated other comprehensive income (loss)		-			(2,114	)		(184	)		230
Net current period other comprehensive income (loss)		733			(2,114	)		(184	)		230
Balance at June 30, 2024	$	(849	)	$	(8,062	)	$	504		$	1,502

	Translation			Benefit Plan			Cash Flow			Net Investment
	Adjustment			Adjustment			Hedges			Hedges
Balance at June 30, 2024	$	(849	)	$	(8,062	)	$	504		$	1,502
Other comprehensive loss before reclassifications		15,885			-			-			-
Return on plan assets					(1,808	)
Amounts reclassified from accumulated other comprehensive income (loss)					(1,591	)		(220	)		(1,631	)
Net current period other comprehensive income (loss)		15,885			(3,399	)		(220	)		(1,631	)
Balance at June 30, 2025	$	15,036		$	(11,461	)	$	284		$	(129	)

Reconciliation for the changes in benefit plan adjustments, net of tax for the year ended June 30, 2025 is as follows:

	Amount
	Reclassified
Changes in benefit plan items
Actuarial loss	$	(1,741	)
Transition asset and prior service benefit		14
Return on plan assets		(1,808	)
Translation		101
Total amortization		(3,434	)
Income taxes		35
Total changes, net of tax	$	(3,399	)

Reconciliation for the changes in benefit plan adjustments, net of tax for the year ended June 30, 2024 is as follows:

	Amount
	Reclassified
Changes in benefit plan items
Actuarial loss	$	(2,079	)
Transition asset and prior service benefit		21
Translation		(64	)
Total amortization		(2,122	)
Income taxes		8
Total changes, net of tax	$	(2,114	)