Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Components Of Income Tax Expense (Benefit)

The components of income tax expense (benefit) were as follows:

Year Ended June 30,	2012			2011			2010
($000)
Current:
Federal	$	283		$	4,566		$	5,031
State		227			1,050			219
Foreign		16,533			15,196			8,283
Total Current	$	17,043		$	20,812		$	13,533
($000)
Deferred:
Federal	$	3,409		$	868		$	(978	)
State		(356	)		(357	)		(509	)
Foreign		(2,476	)		(2,579	)		536
Total Deferred	$	577		$	(2,068	)	$	(951	)
Total Income Tax Expense	$	17,620		$	18,744		$	12,582

Schedule Of Principal Items Comprising Deferred Income Taxes

Principal items comprising deferred income taxes were as follows:

June 30,	2012			2011
($000)
Deferred income tax assets
Inventory capitalization	$	6,328		$	4,297
Non-deductible accruals		1,755			1,583
Accrued employee benefits		6,364			6,163
Net-operating loss and credit carryforwards		10,079			3,619
Share-based compensation expense		11,534			9,092
Other		563			269
Valuation allowances		(846	)		(896	)
Total deferred income tax assets	$	35,777		$	24,127
Deferred income tax liabilities
Tax over book accumulated depreciation	$	(14,166	)	$	(12,113	)
Intangible assets		(13,907	)		(8,872	)
Other		(2,855	)		(1,706	)
Total deferred income tax liabilities	$	(30,928	)	$	(22,691	)
Net deferred income taxes	$	4,849		$	1,436

Schedule Of Reconciliation Of Income Tax Expense At Statutory Federal Rate To Reported Income Tax Expense

The reconciliation of income tax expense at the statutory federal rate to the reported income tax expense is as follows:

Year Ended June 30,	2012			%			2011			%			2010			%
($000)
Taxes at statutory rate	$	27,614			35		$	35,617			35		$	17,961			35
Increase (decrease) in taxes resulting from:
State income taxes – net of federal benefit		(187	)		—			312			—			(180	)		—
Taxes on non U.S. earnings		(6,628	)		(9	)		(14,004	)		(14	)		(6,225	)		(12	)
Settlement of unrecognized tax benefits		(842	)		(1	)		—			—			—			—
Research and manufacturing incentive deductions		(2,079	)		(3	)		(2,515	)		(2	)		(318	)		(1	)
Other		(258	)		—			(666	)		(1	)		1,344			3
	$	17,620			22		$	18,744			18		$	12,582			25

Schedule Of Sources Of Differences Resulting In Deferred Income Tax Expense (Benefit)

The sources of differences resulting in deferred income tax expense (benefit) from continuing operations and the related tax effect of each were as follows:

Year Ended June 30,	2012			2011			2010
($000)
Depreciation and amortization	$	38		$	2,754		$	(818	)
Inventory capitalization		(1,947	)		(2,661	)		985
Net operating loss and credit carryforwards net of valuation allowances		1,859			509			744
Share-based compensation expense		(2,442	)		(1,801	)		(2,084	)
Other		3,069			(869	)		222
	$	577		$	(2,068	)	$	(951	)

Schedule Of Gross Operating Loss Carryforwards And Tax Credit Carryforwards

The Company has the following gross operating loss carryforwards and tax credit carryforwards as of June 30, 2012:

Type	Amount		Expiration Date
($000)
Tax credit carryforwards:
Federal research and development credits	$	1,729	June 2019 – June 2030
State tax credits		1,301	June 2013 – June 2027
Foreign tax credits		1,128	June 2019 – June 2022
Operating loss carryforwards:
Loss carryforwards – federal	$	14,035	June 2024 – June 2029
Loss carryforwards – state		4,161	June 2013 – June 2032
Loss carryforwards – foreign		1,591	June 2016 – June 2019
Loss carryforwards – foreign		1,548	Indefinite

Schedule Of Changes In Liability For Unrecognized Tax Benefits

Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2012, 2011 and 2010 were as follows:

	2012			2011			2010
($000)
Balance at Beginning of Year	$	4,744		$	4,199		$	2,575
Increases in current year tax positions		738			1,716			1,705
Increases in prior year tax positions		—			—			—
Decreases in prior year tax positions		(41	)		—			—
Settlements		(1,788	)		—			—
Expiration of statute of limitations		(803	)		(1,171	)		(81	)
Balance at End of Year	$	2,850		$	4,744		$	4,199