Income Taxes (Tables)

12 Months Ended

Jun. 30, 2025

Income Taxes

Schedule of income before income taxes attributable to domestic and foreign operations

	For the Year ended June 30,
	2025		2024		2023
Domestic	$	12,038	$	6,936	$	4,926
Foreign		38,031		49,450		26,302
Total	$	50,069	$	56,386	$	31,228

Schedule of provision for income taxes

The provision for income taxes is comprised of the following (in thousands):

	For the Year ended June 30,
	2025		2024		2023
Current income taxes:
Federal	$	6,817	$	8,329	$	5,899
State		894		1,015		1,020
		7,711		9,344		6,919
Deferred income taxes:
Federal		(1,046)		(2,367)		(2,334)
State		(2)		(409)		(484)
		(1,048)		(2,776)		(2,818)
Provision for income taxes	$	6,663	$	6,568	$	4,101

Schedule of effective income tax rate reconciliation

A reconciliation of the U.S. Federal statutory income tax rate to our actual effective tax rate on earnings before income taxes is as follows for the years ended June 30, (dollars in thousands):

	2025				2024				2023
			% of				% of				% of
			Pre-tax				Pre-tax				Pre-tax
	Amount		Income		Amount		Income		Amount		Income
Tax at Federal statutory rate	$	10,515	21.0	%	$	11,841	21.0	%	$	6,558	21.0	%
Increases (decreases) in taxes resulting from:
Meals and entertainment		68	0.1	%		66	0.1	%		48	0.2	%
State income taxes, net of Federal income tax benefit		704	1.4	%		935	1.7	%		436	1.4	%
Global intangible low-taxed income		3,981	8.0	%		5,259	9.3	%		2,739	8.8	%
R&D Credit		(461)	(0.9)	%		(632)	(1.1)	%		(661)	(2.1)	%
Executive Compensation		183	0.4	%		47	0.1	%		—	—	%
Foreign Source income not subject to Tax		(7,986)	(16.0)	%		(10,518)	(18.7)	%		(5,524)	(17.7)	%
Uncertain Tax Positions		(825)	(1.6)	%		78	0.1	%		63	0.2	%
Other, net		484	0.8	%		(508)	(0.9)	%		442	1.4	%
Effective tax rate	$	6,663	13.3	%	$	6,568	11.6	%	$	4,101	13.1	%

Schedule of deferred tax assets and liabilities

Deferred tax assets and deferred tax liabilities at June 30, 2025 and 2024 are as follows (in thousands):

	Deferred Tax Assets (Liabilities)
	2025		2024
Accounts receivable	$	6	$	8
Inventories		633		541
Accrued liabilities		675		676
Stock based compensation expense		474		452
Revenue reserves		520		439
Unrealized loss on marketable securities		69		136
Capitalized research and development cost		6,181		5,447
Other		—		2
Total Deferred Tax Assets	$	8,558	$	7,701
Valuation allowance		—		—
Deferred income tax assets, net of valuation allowance	$	8,558	$	7,701
Intangibles		(802)		(874)
Property, plant and equipment		(667)		(786)
Other deferred tax liabilities		(613)		(613)
Total Deferred Tax Liability	$	(2,082)	$	(2,273)
Net Deferred Tax Asset	$	6,476	$	5,428

Schedule of recognized tax benefits roll forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	2025		2024		2023
Balance of gross unrecognized tax benefits as of Beginning of Year	$	700	$	700	$	678
Increase to unrecognized tax benefits resulting from a state filing tax position		—		—		22
Decrease to unrecognized tax benefits resulting from an expiration of a statute		(678)		—		—
Balance of gross unrecognized tax benefits as of End of Year	$	22	$	700	$	700