Income Taxes (Tables)

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Taxes

The following are the components of income taxes (in thousands):

Fiscal years ended June 30,	2019		2018
Current
Federal	$	673	$	1,192
State		339		542
		1,012		1,734
Deferred
Federal		663		562
State		198		120
		861		682
	$	1,873	$	2,416

Schedule of Reconciliation of Income Tax Expense Computed at the Federal Statutory Tax Rate of Provision for Income Taxes

The reconciliation of income tax expense computed at the federal statutory tax rate of 21% and 28% for the fiscal years ended June 30, 2019 and 2018, respectively, to the provision for income taxes is as follows (in thousands):

Fiscal years ended June 30,	2019			2018
Tax at the statutory rate	$	1,180		$	1,788
State income taxes,      net of federal benefit		323			319
Other		370			309
	$	1,873		$	2,416
Effective tax rate		33.4	%		37.9	%

Schedule of Significant Components of the Company's Current and Noncurrent Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effect of temporary differences between the bases of assets and liabilities for financial reporting purposes and the bases used for income tax purposes.  Significant components of the Company’s current and noncurrent deferred tax assets and liabilities as of June 30, 2019 and 2018 were as follows (in thousands):

Fiscal years ended June 30,	2019			2018
Deferred tax assets:
Allowance for doubtful accounts	$	116		$	66
Inventory capitalization		471			303
Stock compensation		499			277
Other		46			74
		1,132			720
Deferred tax liabilities:
Goodwill		(1,375	)		(664	)
Depreciation		(1,217	)		(614	)
Intangible assets		(248	)		—
		(2,840	)		(1,278	)
Net deferred income tax (liabilities) assets	$	(1,708	)	$	(558	)