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INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2012
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The provision (benefit) for income taxes consists of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended June 30,

 

 

 



 

 

2012

 

2011

 

2010

 

 

 







Current:

 

 

 

 

 

 

 

 

 

 

Federal

 

$

 

$

(725

)

$

(1,917

)

State

 

 

670

 

 

259

 

 

130

 

Foreign

 

 

2,403

 

 

1,782

 

 

1,544

 

 

 










 

 

 

3,073

 

 

1,316

 

 

(243

)

 

 










Deferred:

 

 

 

 

 

 

 

 

 

 

Federal

 

 

(15,977

)

 

 

 

(789

)

State

 

 

(2,918

)

 

 

 

 

Foreign

 

 

(5

)

 

 

 

 

 

 










 

 

 

(18,900

)

 

 

 

(789

)

 

 










Total

 

$

(15,827

)

$

1,316

 

$

(1,032

)

 

 










Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] The income tax expense (benefits) for operations listed above were provided on the following pre-tax book income (loss) from continuing operations amounts:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended June 30,

 

 

 



 

 

2012

 

2011

 

2010

 

 

 







Earnings (loss) from operations - U.S.

 

$

22,625

 

$

18,543

 

$

(7,883

)

Earnings from foreign operations

 

 

6,619

 

 

3,365

 

 

4,183

 

 

 










 

 

$

29,244

 

$

21,908

 

$

(3,700

)

 

 










Schedule Of Income Tax Reconciliation [Table Text Block] The following continuing operations before income taxes for the reasons below

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended June 30,

 

 

 



 

 

2012

 

2011

 

2010

 

 

 







 

Computed “expected tax expense (benefit)”

 

$

10,235

 

$

7,668

 

$

(1,295

)

Increases (reductions) in taxes resulting from:

 

 

 

 

 

 

 

 

 

 

State taxes, net of federal income tax benefit

 

 

436

 

 

168

 

 

85

 

Reversal of allowance for uncertain tax positions

 

 

 

 

 

 

(1,209

)

Refund claims relating to net operating loss (“NOL”) carrybacks and other credits

 

 

 

 

 

 

(1,374

)

Benefit related to gain on acquisition

 

 

 

 

(725

)

 

 

Permanent items

 

 

1,199

 

 

524

 

 

727

 

Foreign tax differential

 

 

(317

)

 

(399

)

 

(88

)

Deferred tax asset valuation allowance and related adjustments to NOL

 

 

(27,380

)

 

(5,920

)

 

2,217

 

Other, net

 

 

 

 

 

 

(95

)

 

 










 

 

$

(15,827

)

$

1,316

 

$

(1,032

)

 

 










Schedule of Deferred Tax Assets and Liabilities [Table Text Block] The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of June 30, 2012 and 2011 are presented below:

 

 

 

 

 

 

 

 

 

 

June 30, 2012

 

June 30, 2011

 

 

 


 


 

Deferred tax assets:

 

 

 

 

 

 

 

Accounts receivable

 

$

289

 

$

1,741

 

Accrued liabilities and other

 

 

1,669

 

 

1,025

 

Inventory valuation

 

 

3,117

 

 

3,979

 

Stock award compensation

 

 

3,583

 

 

202

 

Intangible assets

 

 

664

 

 

79

 

Federal, foreign and state net operating loss carryforwards and credits

 

 

14,192

 

 

25,406

 

Contributions

 

 

 

 

72

 

 

 



 



 

Deferred tax assets

 

 

23,514

 

 

32,504

 

 

 



 



 

Deferred tax liabilities:

 

 

 

 

 

 

 

Intangible assets

 

 

(542

)

 

 

Property, plant and equipment

 

 

(2,038

)

 

(3,270

)

 

 



 



 

Deferred tax liability

 

 

(2,580

)

 

(3,270

)

 

 



 



 

 

 

 

 

 

 

 

 

Net deferred tax assets before valuation allowance

 

 

20,934

 

 

29,234

 

Valuation allowance

 

 

(1,750

)

 

(29,179

)

 

 



 



 

Net deferred tax asset

 

$

19,184

 

$

55

 

 

 



 



 

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] The following table is a reconciliation of the beginning and ending balances of unrecognized tax benefits.

 

 

 

 

 

Unrecognized tax benefit, June 30, 2009

 

$

1,826

 

Decreases - tax positions of prior years

 

 

(1,826

)

 

 



 

Unrecognized tax benefit, June 30, 2010

 

 

 

Increases - tax positions of prior years

 

 

855

 

 

 



 

Unrecognized tax benefit, June 30, 2011

 

 

855

 

Increases - tax positions of prior years

 

 

2,639

 

Increases - tax positions of current year

 

 

123

 

 

 



 

Unrecognized tax benefit, June 30, 2012

 

$

3,617