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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2016
Mar. 31, 2015
Sales, net $ 10,971 $ 9,671 $ 30,830 $ 28,544
Cost of sales 9,647 8,772 27,216 25,088
Gross profit 1,324 899 3,614 3,456
Selling and administrative expenses 874 887 2,511 2,595
Operating income 450 12 1,103 861
Other income (expense), net        
Interest expense (248) (251) (728) (741)
Change in fair value of derivative liabilities (130) 41 (127) 702
Other income 15 116 65 143
Other income (expense), net (363) (94) (790) 104
Income (loss) before income taxes 87 (82) 313 965
Income tax expense, net 54 24 102 120
Net income (loss) $ 33 $ (106) $ 211 845
Change in fair value of derivative liability (702)
Interest expense on Convertible debt-CD Financial, LLC 244
Accretion of Convertible debt - CD Financial, LLC 83
Diluted net income (loss) $ 33 $ (106) $ 211 $ 470
Basic net income (loss) per common share (in dollars per share) $ 0 $ (0.01) $ 0.01 $ 0.04
Diluted net income (loss) per common share (in dollars per share) $ 0 $ (0.01) $ 0.01 $ 0.02
Weighted average common shares outstanding - basic (in shares) 21,105,174 21,105,174 21,105,174 21,105,174
Add: Stock options (in shares) 176,754 92,527 66,592
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares) 8,230,769
Weighted average common shares outstanding - diluted (in shares) 21,281,928 21,105,174 21,197,701 29,402,535