COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS

3 Months Ended

Sep. 30, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS

NOTE 2. COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS

Inventories

Inventories are stated at the lower of cost (first-in, first-out) or market and consist of the following:

	September 30, 2013		June 30, 2013
Raw materials / purchased components	$	1,651,000	$	1,640,000
Work in process		521,000		572,000
Sub-assemblies / Finished components		1,349,000		1,291,000
Finished goods		452,000		331,000
Total inventories	$	3,973,000	$	3,834,000

Investments

	September 30, 2013		June 30, 2013
Marketable equity securities	$	654,000		370,000

Investments at September 30, 2013 and June 30, 2013 had an aggregate cost basis of $593,000 and $365,000, respectively, gross unrealized gains aggregating $61,000 and $5,000, respectively, and no unrealized losses.

In September 2013, our Board approved a share repurchase program authorizing the Company, at the direction of the Investment Committee of the Board, to repurchase up to 750,000 shares of our common stock under parameters to be determined by the Investment Committee. The repurchase program has no stated expiration date and there have been no purchases under the program.