Note 14 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year ended June 30
(amounts in thousands)	2013			2012			2011
Income from operations before income taxes
Domestic	$	17,387		$	10,445		$	21,880
Foreign		1,119			369			46
	$	18,506		$	10,814		$	21,926
Income tax expense (benefit) charged to the consolidated statements of income:
Current:
Federal	$	2,711		$	731		$	5,073
State and local		162			68			244
Benefit applied to reduce goodwill		46			46			46
Foreign		138			(30	)		43
Total current		3,057			815			5,406
Deferred:
Federal		422			1,493			143
State and local		(52	)		(154	)		(149	)
Foreign		23			46			125
Total deferred		393			1,385			119
Total income tax expense charged to the consolidated statements of income	$	3,450		$	2,200		$	5,525
Income taxes charged (credited) to Stockholders’ equity:
Current benefit of equity-based compensation	$	(459	)	$	(494	)	$	(164	)
Deferred tax expense (benefit) from recognition of pension liability		970			(1,398	)		652
Income taxes charged (credited) to Stockholders’ equity	$	511		$	(1,892	)	$	488

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(amounts in thousands)	2013			2012			2011
Consolidated income tax expense at 35%	$	6,477		$	3,785		$	7,674
State taxes, net of Federal benefit		33			(126	)		(4	)
Nontaxable interest income		(17	)		(59	)		(67	)
Change in valuation allowance		60			109			100
Effect of foreign operations		(231	)		(114	)		153
Non-deductible equity-based compensation		(108	)		(46	)		(107	)
Research credits		(2,108	)		(1,168	)		(1,148	)
Domestic production tax benefit		(403	)		(205	)		(619	)
Change in uncertain tax positions		(151	)		5			(419	)
Other		(102	)		19			(38	)
	$	3,450		$	2,200		$	5,525

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(amounts in thousands)	2013			2012
Deferred tax assets:
Inventories	$	1,465		$	1,737
Deferred compensation		474			445
Retirement benefits		1,482			2,426
Postretirement benefits		789			870
Equity-based compensation		4,100			4,248
Nondeductible reserves		781			776
Federal and state tax attribute carryforwards		4,633			4,542
State net operating loss carryforwards		356			389
Gross deferred tax assets		14,080			15,433
Valuation allowance		(4,652	)		(4,592	)
Net deferred tax assets		9,428			10,841
Deferred tax liabilities:
Property, plant and equipment, principally due to differences in depreciation		(4,772	)		(5,179	)
Intangible assets including goodwill		(5,507	)		(5,150	)
Gross deferred tax liabilities		(10,279	)		(10,329	)
Net deferred tax assets (liabilities)	$	(851	)	$	512

(amounts in thousands)	2013			2012
Presented as:
Current deferred tax asset	$	1,820		$	1,984
Long-term deferred tax liability		(2,671	)		(1,472	)
Net deferred tax assets (liabilities)	$	(851	)	$	512

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(amounts in thousands)
Balance at June 30, 2012	$	239
Lapse of statute of limitations		(143	)
Balance at June 30, 2013	$	96