Income Taxes

9 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

For the three months ended March 31, 2017 and 2016, the Company recorded an income tax benefit from continuing operations of $219,000 and $15,000, respectively, and for the nine months ended March 31, 2017 and 2016, the Company recorded an income tax benefit from continuing operations of $275,000 and $322,000, respectively.

For the nine months ended March 31, 2017 and 2016, the effective rate of 16.0% and 26.6%, respectively, on continuing operations varied from the U.S. federal statutory rate primarily due to permanent book tax differences relating principally to stock compensation expense and tax credits.

As of March 31, 2017 and June 30, 2016, the Company has no material unrecognized tax benefits or accrued interest and penalties.