Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2017

Summary by Level of Fair Value of Financial Instruments Measured on Recurring Basis

The following tables provide a summary by level of the fair value of financial instruments that are measured on a recurring basis as of June 30, 2017 and 2016 ($000):

	Fair Value Measurements at June 30, 2017 Using:
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	June 30, 2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Foreign currency forward contracts	$	191	$	-	$	191	$	-
Liabilities:
Contingent earnout arrangements	$	5,795	$	-	$	-	$	5,795

	Fair Value Measurements at June 30, 2016 Using:
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	June 30, 2016		(Level 1)		(Level 2)		(Level 3)
Liabilities:
Foreign currency forward contracts	$	511	$	-	$	511	$	-
Contingent earnout arrangement	$	4,352	$	-	$	-	$	4,352

EpiWorks and IPI

Reconciliation of Beginning and Ending Fair Value Measurements of Level Three Contingent Earnout Arrangement Related to Acquisitions

The following table presents a reconciliation of the beginning and ending fair value measurements of the Company’s level 3 contingent earnout arrangement related to the acquisitions of II-VI EpiWorks and IPI ($000):

	Significant
	Unobservable Inputs
	(Level 3)
Balance at July 1, 2016	$	4,352
Contingent earnout arrangements:
Contingent earnout - IPI		2,250
Payments		(2,000	)
Changes in fair value recorded in other expense, (income)		1,193
Balance at June 30, 2017	$	5,795