Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Schedule of Income before Income Tax, Domestic and Foreign

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

	2013		2012		2011
Domestic operations	$	21,181	$	16,418	$	7,039
Foreign operations		13,369		8,322		9,923
	$	34,550	$	24,740	$	16,962

Schedule of Components of Provision for Income Taxes

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

	2013			2012			2011
Federal:
Current	$	9,428		$	6,533		$	5,342
Deferred		(2,011	)		(1,476	)		(561	)
State and local:
Current		1,568			716			634
Deferred		(628	)		(277	)		(162	)
Foreign:
Current		3,875			2,287			2,693
Deferred		(10	)		(24	)		48
	$	12,222		$	7,759		$	7,994

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, 2013 and 2012 are presented below:

	2013			2012
Deferred tax assets:
Accrued environmental remediation liabilities not currently deductible	$	102		$	302
Accrued deferred compensation		2,791			2,429
Accrual for acquisition costs not currently deductible		-			337
Accrual for sales deductions not currently deductible		2,989			1,528
Additional inventoried costs for tax purposes		206			255
Allowance for doubtful accounts receivable		139			134
Depreciation and amortization		2,690			1,438
Accrual for payments to former senior management and other personnel related costs		57			159
Contingent consideration		1,949			489
Foreign deferred tax assets		246			-
Domestic net operating loss carryforwards		200			200
Foreign net operating loss carryforwards		758			965
Total gross deferred tax assets		12,127			8,236
Valuation allowances		(958	)		(946	)
		11,169			7,290

Deferred tax liabilities:
Foreign deferred tax liabilities		(6	)		(8	)
Goodwill		(2,306	)		(1,457	)
Other		(107	)		(166	)
Total gross deferred tax liabilities		(2,419	)		(1,631	)

Net deferred tax assets	$	8,750		$	5,659

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, 2013 and 2012:

	2013			2012
Current deferred tax assets, net	$	701		$	948
Non-current deferred tax assets, net		8,055			4,719
Current deferred tax liabilities		-			-
Non current deferred tax liabilities		(6	)		(8	)
Net deferred tax assets	$	8,750		$	5,659

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, 2013, 2012 and 2011 follows:

	2013			2012			2011
Federal statutory tax rate		35.0	%		35.0	%		35.0	%
State and local taxes, net of federal income tax benefit		3.0			3.0			2.4
Decrease (increase) in valuation allowance		-			0.2			(0.4	)
Foreign tax rate differential		(2.1	)		(3.0	)		(4.4	)
Impact of repatriation of non-US earnings		-			(2.1	)		15.3
Other		(0.5	)		(1.7	)		(0.8	)
Effective tax rate		35.4	%		31.4	%		47.1	%