Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Income Taxes

Schedule of provision for income taxes

(In thousands)	2013		2012		2011
Current Income Taxes
Federal	$	5,914	$	1,513	$	(3,179	)
State and Local Taxes	606		5		(132		)
Total	6,520		1,518		(3,311		)
Deferred Income Taxes
Federal	216		828		2,617
State and Local Taxes	567		254		233
Total	783		1,082		2,850
Total	$	7,303	$	2,600	$	(461	)

Schedule of reconciliation of the differences between the effective rates and federal statutory rates

	2013		2012		2011
Federal income tax at statutory rate	34.0	%	34.0	%	34.0	%
State and local income tax, net	2.6	%	2.6	%	0.2	%
Nondeductible expenses	(0.2	)%	5.7	%	(35.1	)%
Foreign rate differential	0.5	%	2.0	%	2.7	%
Income tax credits	(2.5	)%	(3.6	)%	83.3	%
Change in tax laws	1.1	%	—	%	—	%
Change in state nexus position	—	%	—	%	(24.0	)%
Other	(0.2	)%	(1.4	)%	4.7	%
Effective income tax rate	35.3	%	39.3	%	65.8	%

Schedule of differences which give rise to deferred tax assets and liabilities.

(In thousands)	2013			2012
Deferred tax assets:
Accrued expenses	$	61		$	74
Share-based compensation expense	1,022			1,088
Reserve for returns	2,431			2,049
Reserves for accounts receivable and inventory	2,995			3,259
Intangible impairment	6,702			7,956
State net operating loss	—			100
Federal net operating loss	904			967
Impairment on Cody note receivable	1,964			1,998
Accumulated amortization on intangible asset	2,316			2,238
Foreign net operating loss	176			114
Other	80			133
Total deferred tax asset	18,651			19,976
Valuation allowance	(2,140		)	(2,112		)
Total deferred tax asset less valuation allowance	16,511			17,864
Deferred tax liabilities:
Prepaid expenses	66			63
Property, plant and equipment	3,512			3,899
Other	54			—
Total deferred tax liability	3,632			3,962
Net deferred tax asset	$	12,879		$	13,902

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

(In thousands)	Balance
Balance at June 30, 2011	$	209
Additions for tax positions of the current year	24
Additions for tax positions of prior years	47
Reductions for tax positions of prior years	—
Settlements	—
Lapse of statute of limitations	—
Balance at June 30, 2012	$	280
Additions for tax positions of the current year	62
Additions for tax positions of prior years	18
Reductions for tax positions of prior years	—
Settlements	—
Lapse of statute of limitations	—
Balance at June 30, 2013	$	360