INCOME TAXES

3 Months Ended

Sep. 30, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES:

A summary of the income tax expense and corresponding effective tax rate is as follows:

		Three Months Ended September 30,
		2026			2025
	(Dollars in thousands)
Income tax expense		$	(62)		$	(536)
Effective tax rate		10.6		%	28.3		%

The decrease in the Company’s effective tax rate for the three months ended September 30, 2026, primarily relates to lower pre-tax earnings and a current period discrete tax benefit related to the Company's deferred tax valuation allowance.

With limited exceptions, due to net operating loss carryforwards, our federal, state, and foreign tax returns are open to examination for all years since 2014, 2013, and 2016, respectively.