v3.25.2
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2025
Income Taxes  
Schedule of income before income taxes attributable to domestic and foreign operations

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Year ended June 30, 

​

    

2025

    

2024

    

2023

​

 

​

  

 

​

  

 

​

  

Domestic

​

$

12,038

​

$

6,936

​

$

4,926

Foreign

​

 

38,031

​

 

49,450

​

 

26,302

​

​

​

​

​

​

​

​

​

​

Total

​

$

50,069

​

$

56,386

​

$

31,228

Schedule of provision for income taxes

The provision for income taxes is comprised of the following (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

For the Year ended June 30, 

​

    

2025

    

2024

    

2023

Current income taxes:

 

​

  

 

​

  

 

​

  

Federal

​

$

6,817

​

$

8,329

​

$

5,899

State

​

 

894

​

 

1,015

​

 

1,020

​

​

 

7,711

​

 

9,344

​

 

6,919

Deferred income taxes:

​

 

​

​

 

​

​

​

​

Federal

​

​

(1,046)

​

​

(2,367)

​

 

(2,334)

State

​

​

(2)

​

​

(409)

​

​

(484)

​

​

​

(1,048)

​

 

(2,776)

​

 

(2,818)

​

​

​

​

​

​

​

​

​

​

Provision for income taxes

​

$

6,663

​

$

6,568

​

$

4,101

Schedule of effective income tax rate reconciliation

A reconciliation of the U.S. Federal statutory income tax rate to our actual effective tax rate on earnings before income taxes is as follows for the years ended June 30, (dollars in thousands):

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​

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

​

2024

 

​

2023

 

​

​

​

​

​

% of

​

​

​

​

​

% of

​

​

​

​

​

% of

​

​

​

​

​

​

Pre-tax

​

​

​

​

​

Pre-tax

​

​

​

​

​

Pre-tax

​

​

    

Amount

    

Income

    

​

Amount

    

Income

 

​

Amount

    

Income

 

Tax at Federal statutory rate

​

$

10,515

​

21.0

%  

​

$

11,841

​

21.0

%

​

$

6,558

​

21.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Increases (decreases) in taxes resulting from:

 

​

  

 

  

 

​

​

  

 

  

​

​

​

  

 

  

​

Meals and entertainment

 

​

68

 

0.1

%  

​

​

66

 

0.1

%

​

​

48

 

0.2

%

State income taxes, net of Federal income tax benefit

 

​

704

 

1.4

%  

​

​

935

 

1.7

%

​

​

436

 

1.4

%

Global intangible low-taxed income

​

​

3,981

​

8.0

%  

​

​

5,259

​

9.3

%

​

​

2,739

​

8.8

%

R&D Credit

 

​

(461)

 

(0.9)

%  

​

​

(632)

 

(1.1)

%

​

​

(661)

 

(2.1)

%

Executive Compensation

 

​

183

 

0.4

%  

​

​

47

 

0.1

%

​

​

—

 

—

%

Foreign Source income not subject to Tax

​

​

(7,986)

​

(16.0)

%  

​

​

(10,518)

​

(18.7)

%

​

​

(5,524)

​

(17.7)

%

Uncertain Tax Positions

 

​

(825)

 

(1.6)

%  

​

​

78

 

0.1

%

​

​

63

 

0.2

%

Other, net

 

​

484

 

0.8

%  

​

​

(508)

 

(0.9)

%

​

​

442

 

1.4

%

Effective tax rate

​

$

6,663

 

13.3

%  

​

$

6,568

 

11.6

%

​

$

4,101

 

13.1

%

Schedule of deferred tax assets and liabilities

Deferred tax assets and deferred tax liabilities at June 30, 2025 and 2024 are as follows (in thousands):

​

​

​

​

​

​

​

​

​

Deferred Tax Assets (Liabilities)

​

    

2025

    

2024

Accounts receivable

​

$

6

​

$

8

Inventories

​

 

633

​

 

541

Accrued liabilities

​

 

675

​

 

676

Stock based compensation expense

​

 

474

​

 

452

Revenue reserves

​

​

520

​

​

439

Unrealized loss on marketable securities

​

​

69

​

​

136

Capitalized research and development cost

​

​

6,181

​

​

5,447

Other

​

​

—

​

​

2

Total Deferred Tax Assets

​

$

8,558

​

$

7,701

Valuation allowance

​

 

—

​

 

—

Deferred income tax assets, net of valuation allowance

​

$

8,558

​

$

7,701

​

​

​

​

​

​

​

Intangibles

​

 

(802)

​

 

(874)

Property, plant and equipment

​

 

(667)

​

 

(786)

Other deferred tax liabilities

​

 

(613)

​

 

(613)

Total Deferred Tax Liability

​

$

(2,082)

​

$

(2,273)

​

​

​

​

​

​

​

Net Deferred Tax Asset

​

$

6,476

​

$

5,428

Schedule of recognized tax benefits roll forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

    

2025

    

2024

    

2023

Balance of gross unrecognized tax benefits as of Beginning of Year

​

$

700

​

$

700

​

$

678

Increase to unrecognized tax benefits resulting from a state filing tax position

​

 

—

​

 

—

​

 

22

Decrease to unrecognized tax benefits resulting from an expiration of a statute

​

​

(678)

​

​

—

​

​

—

Balance of gross unrecognized tax benefits as of End of Year

​

$

22

​

$

700

​

$

700