Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Earnings (Losses) from Continuing Operations Before Income Taxes

The components of earnings (losses) from continuing operations before income taxes were as follows:

Year Ended June 30,	2016			2015			2014
($000)
U.S. loss	$	(5,809	)	$	(5,326	)	$	(2,863	)
Non-U.S. income		95,764			84,438			48,504
Earnings from continuing operations before income taxes	$	89,955		$	79,112		$	45,641

Components of Income Tax Expense

The components of income tax expense from continuing operations were as follows:

Year Ended June 30,	2016			2015			2014
($000)
Current:
Federal	$	3,704		$	(146	)	$	(1,067	)
State		5			86			152
Foreign		19,783			16,978			12,675
Total Current	$	23,492		$	16,918		$	11,760
Deferred:
Federal	$	2,759		$	(2,762	)	$	(16	)
State		1,302			(251	)		148
Foreign		(3,084	)		(768	)		(4,567	)
Total Deferred	$	977		$	(3,781	)	$	(4,435	)
Total Income Tax Expense	$	24,469		$	13,137		$	7,325

Schedule of Principal Items Comprising Deferred Income Taxes

Principal items comprising deferred income taxes were as follows:

June 30,	2016			2015
($000)
Deferred income tax assets
Inventory capitalization	$	6,814		$	6,614
Non-deductible accruals		2,212			1,902
Accrued employee benefits		15,543			10,297
Net-operating loss and credit carryforwards		43,516			22,232
Share-based compensation expense		11,693			13,222
Other		1,770			1,468
Valuation allowances		(42,641	)		(2,713	)
Total deferred income tax assets	$	38,907		$	53,022
Deferred income tax liabilities
Tax over book accumulated depreciation	$	(9,759	)	$	(15,937	)
Intangible assets		(29,628	)		(25,132	)
Tax on unremitted earnings		(797	)		(1,753	)
Other		(1,978	)		(2,520	)
Total deferred income tax liabilities	$	(42,162	)	$	(45,342	)
Net deferred income taxes	$	(3,255	)	$	7,680

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,	2016			%			2015			%			2014			%
($000)
Taxes at statutory rate	$	31,484			35		$	27,689			35		$	15,974			35
Increase (decrease) in taxes resulting from:
State income taxes-net of federal benefit		864			1			(196	)		-			254			1
Taxes on non U.S. earnings		(13,860	)		(15	)		(11,687	)		(15	)		(6,672	)		(15	)
Valuation allowance		8,464			9			678			1			(595	)		(1	)
Research and manufacturing incentive deductions		(3,074	)		(3	)		(2,573	)		(3	)		(2,190	)		(5	)
Other		591			-			(774	)		(1	)		554			1
	$	24,469			27		$	13,137			17		$	7,325			16

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, 2016:

Type	Amount		Expiration Date
($000)
Tax credit carryforwards:
Federal research and development credits	$	8,479	June 2019-June 2036
Foreign tax credits		2,594	June 2024-June 2026
State tax credits		3,218	June 2017-June 2036
Operating loss carryforwards:
Loss carryforwards - federal	$	93,081	June 2021-June 2036
Loss carryforwards - state		48,934	June 2017-June 2036
Loss carryforwards - foreign		2,049	June 2017-June 2024

Schedule of Changes in Liability for Unrecognized Tax Benefits

Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2016, 2015 and 2014 were as follows:

	2016			2015			2014
($000)
Balance at Beginning of Year	$	4,022		$	2,775		$	3,181
Increases in current year tax positions		2,146			2,450			298
Increases in prior year tax positions		190			203		2
Decreases in prior year tax positions		(67	)		-			-
Settlements		-			-			-
Expiration of statute of limitations		(732	)		(1,406	)		(706	)
Balance at End of Year	$	5,559		$	4,022		$	2,775