Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Schedule of Income before Income Tax, Domestic and Foreign

The components of income before the provision for income taxes are as follows:

	2012		2011		2010
Domestic operations	$	16,418	$	7,039	$	3,581
Foreign operations		8,322		9,923		6,622
	$	24,740	$	16,962	$	10,203

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes are as follows:

	2012			2011			2010
Federal:
Current	$	6,533		$	5,342		$	2,101
Deferred		(1,476	)		(561	)		(763	)
State and local:
Current		716			634			314
Deferred		(277	)		(162	)		(62	)
Foreign:
Current		2,287			2,693			2,003
Deferred		(24	)		48			29
	$	7,759		$	7,994		$	3,622

Schedule of Tax Effects of Temporary Differences that Give Rise to the Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to the deferred tax assets and liabilities at June 30, 2012 and 2011 are presented below:

	2012			2011
Deferred tax assets:
Accrued environmental remediation liabilities not  currently deductible	$	302		$	370
Accrued deferred compensation		2,429			2,001
Accrual for acquisition costs not currently deductible		337			350
Accrual for  sales deductions not currently deductible		1,528			1,174
Additional inventoried costs for tax purposes		255			176
Allowance for doubtful accounts receivable		134			81
Depreciation and amortization		1,438			549
Accrual for payments to former senior management and other  personnel related costs		159			194
Contingent consideration		489			-
Domestic net operating loss carryforwards		200			220
Foreign net operating loss carryforwards		965			1,283
Total gross deferred tax assets		8,236			6,398
Valuation allowances		(946	)		(1,019	)
		7,290			5,379
Deferred tax liabilities:
Foreign deferred tax liabilities		(8	)		(357	)
Unrealized gain on investments		-			(178	)
Goodwill		(1,457	)		(622	)
Installment gain on sale of assets		-			(136	)
Other		(166	)		(219	)
Total gross deferred tax liabilities		(1,631	)		(1,512	)
Net deferred tax assets	$	5,659		$	3,867

Schedule of Current and Non Current Deferred Tax Assets (Liabilities)

The following table shows the current and non current deferred tax assets (liabilities) at June 30, 2012 and 2011:

	2012			2011
Current deferred tax assets, net	$	948		$	747
Non-current deferred tax assets, net		4,719			3,477
Current deferred tax liabilities		-			(306	)
Non current deferred tax liabilities		( 8	)		(51	)
Net deferred tax assets	$	5,659		$	3,867

Schedule of Reconciliation of Statutory Federal Income Tax Rate and Effective Tax Rate for Continuing Operations

A reconciliation of the statutory federal income tax rate and the effective tax rate for continuing operations for the fiscal years ended June 30, 2012, 2011 and 2010 follows:

	2012			2011			2010
Federal statutory tax rate		35.0	%		35.0	%		34.0	%
State and local taxes, net of federal income tax benefit		3.0			2.4			2.1
Decrease (increase) in valuation allowance		0.2			(0.4	)		0.5
Foreign tax rate differential		(3.0	)		(4.4	)		(3.1	)
Impact of repatriation of non-US earnings		(2.1	)		15.3			-
Other		(1.7	)		(0.8	)		2.0
Effective tax rate		31.4	%		47.1	%		35.5	%