v3.26.1
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Income Taxes  
Schedule of components of income before income taxes

​

​

​

​

​

​

​

​

​

​

​

For the Year Ended June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Domestic

​

$

57,480

​

$

3,304

​

$

(22,820)

Foreign

​

 

79,866

​

 

64,689

​

 

33,736

Income before income taxes

​

$

137,346

​

$

67,993

​

$

10,916

 

Schedule of components of the provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

For the Year Ended June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Current provision:

 

​

  ​

 

​

  ​

 

​

  ​

Federal

​

$

3,555

​

$

5,557

​

$

3,037

State and local

​

 

2,789

​

 

2,448

​

 

1,718

Foreign

​

 

24,056

​

 

16,477

​

 

15,740

Total current provision

​

 

30,400

​

 

24,482

​

 

20,495

Deferred provision (benefit):

​

 

​

​

 

​

​

 

  ​

Federal

​

 

7,951

​

 

(4,412)

​

 

(4,755)

State and local

​

 

-

​

 

(1,521)

​

 

(1,523)

Foreign

​

 

(15)

​

 

1,171

​

 

(4,468)

Change in foreign valuation allowances

​

 

(710)

​

 

9

​

 

(1,249)

Total deferred provision (benefit)

​

 

7,226

​

 

(4,753)

​

 

(11,995)

Provision for income taxes

​

$

37,626

​

$

19,729

​

$

8,500

 

Schedule of reconciliation of the federal statutory rate to the effective tax rate

​

The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate for the year ended June 30, 2026:

​

​

​

​

​

​

​

For the Year Ended June 30, 2026

  ​ ​ ​

​

Total

  ​ ​ ​

%

​

U.S. federal statutory income tax rate

 

$

28,843

​

21.0

%

United States:

​

​

​

​

​

​

State and local income taxes, net of federal income tax benefit(1)

 

​

2,190

​

1.6

%

Effects of cross border tax laws:

​

​

​

​

​

​

Global intangible low-taxed income, net

​

​

2,036

​

1.5

%

Foreign-derived intangible income

 

​

(1,935)

​

(1.4)

%

Other

​

​

1,391

​

1.0

%

Tax credits:

​

​

​

​

​

​

Research and development tax credits

​

​

(1,223)

​

(0.9)

%

Other

​

​

(434)

​

(0.3)

%

Non-taxable or non-deductible items

​

​

1,003

​

0.7

%

Other

​

​

(1,837)

​

(1.3)

%

Foreign tax effects:

​

​

​

​

​

​

Israel:

 

​

​

​

​

​

Effect of rates different than statutory

 

​

470

​

0.3

%

Effect of Israel reduced rate

​

​

(1,728)

​

(1.3)

%

Other

​

​

173

​

0.1

%

Brazil:

​

​

​

​

​

​

Effect of rates different than statutory

​

​

4,514

​

3.3

%

Other

​

​

(996)

​

(0.7)

%

Argentina:

​

​

​

​

​

​

Effect of rates different than statutory

​

​

1,145

​

0.8

%

Other

​

​

405

​

0.3

%

Other foreign jurisdictions

​

​

820

​

0.6

%

Changes in unrecognized tax benefits

​

​

2,789

​

2.0

%

Provision for income taxes and effective tax rate

​

$

37,626

​

27.4

%

​

(1)Minnesota, California, and Illinois, comprise the majority (greater than 50%) of domestic state and local taxes, net of federal benefit.

​

Reconciliations of the federal statutory rate to the Company’s effective tax rate were as follows for the years ended June 30, 2025 and 2024:

​

​

​

​

​

​

​

For the Year Ended June 30

  ​ ​ ​

2025

  ​ ​ ​

2024

​

U.S. federal statutory income tax rate

 

21.0

%  

21.0

%  

State and local taxes, net of federal benefit

 

0.6

​

(1.1)

​

Taxes on non-U.S. income

 

(0.6)

​

9.9

​

Changes in uncertain tax positions

​

—

​

30.7

​

Global intangible low-taxed income

 

4.7

​

18.3

​

Recognition of federal and foreign tax credits

​

(13.7)

​

(10.6)

​

Change in valuation allowance

​

(0.1)

​

(11.4)

​

Foreign-derived intangible income

​

—

​

(3.8)

​

Non-U.S. withholding and related taxes, net, on planned repatriation

​

13.0

​

28.4

​

Impact of foreign tax credit regulations and related changes

​

—

​

(20.0)

​

Non-deductible operating expenses

​

2.9

​

11.3

​

Non-deductible acquisition costs

​

—

​

4.3

​

Other

 

1.1

​

0.9

​

Effective income tax rate

 

29.0

%  

77.9

%

 

Schedule of deferred tax assets and liabilities

The tax effects of significant temporary differences that comprise deferred tax assets and liabilities were:

​

​

​

​

​

​

​

​

As of June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

Deferred tax assets:

​

​

​

​

​

​

Employee-related accruals

​

$

6,632

​

$

5,940

Inventory

​

 

6,472

​

 

10,681

Environmental remediation

​

 

652

​

 

783

Net operating loss carry forwards–domestic

​

 

864

​

 

689

Net operating loss carry forwards–foreign

​

 

921

​

 

2,705

Operating lease liabilities

​

​

7,073

​

​

8,399

R&D cost capitalization

​

​

7,380

​

​

8,647

Interest expense limitation

​

​

426

​

​

3,900

Accrued expenses

​

​

10,450

​

​

11,001

Acquisition related expenses

​

​

2,051

​

​

2,161

Other

​

​

2,017

​

 

4,703

​

​

 

44,938

​

 

59,609

Valuation allowance

​

 

(569)

​

 

(1,279)

​

​

 

44,369

​

 

58,330

Deferred tax liabilities:

​

 

​

​

 

​

Property, plant and equipment and intangible assets

​

​

(16,961)

​

​

(18,989)

Operating lease ROU assets

​

​

(6,636)

​

​

(7,939)

Prepaid expenses

​

​

(1,651)

​

​

(1,728)

Unrealized foreign exchange

​

​

(1,188)

​

​

(1,601)

Non-U.S. withholding and related taxes, net, on planned repatriation

​

​

(250)

​

​

(250)

Other

​

 

(4,641)

​

 

(6,472)

​

​

 

(31,327)

​

 

(36,979)

Net deferred tax asset

​

$

13,042

​

$

21,351

 

 

Deferred taxes are included in the consolidated balance sheets as follows:

​

​

​

​

​

​

​

​

As of June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

Other assets

​

$

17,011

​

$

25,548

Other liabilities

​

 

(3,969)

​

 

(4,197)

​

​

$

13,042

​

$

21,351

 

Schedule of the valuation allowance established against deferred tax assets

​

​

​

​

​

​

​

​

​

​

​

As of June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Balance at beginning of period

​

$

1,279

​

$

1,288

​

$

2,598

Benefit for income taxes

​

​

(710)

​

 

(9)

​

 

(1,310)

Balance at end of period

​

$

569

​

$

1,279

​

$

1,288

 

Schedule of income taxes paid

​

​

​

​

​

For the Year Ended June 30

​

​

2026

United States:

​

​

​

Federal

​

$

-

State and local

​

​

1,549

Total United States

​

​

1,549

Foreign:

​

​

​

Brazil

​

​

8,559

Israel

​

​

4,348

Mexico

​

​

2,396

China

​

​

1,386

Other

​

​

2,385

Total Foreign

​

​

19,074

Total income taxes paid, net of refunds

​

$

20,623

 

Schedule of the reconciliation of the beginning and ending amounts of unrecognized tax benefits

​

​

​

​

​

​

​

​

​

​

​

As of June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Unrecognized tax benefits–beginning of period

​

$

12,470

​

$

11,861

​

$

9,449

Tax position changes–current period

​

 

3,255

​

 

(809)

​

 

2,066

Tax position changes–prior periods, including settlements with tax authorities

​

 

(11)

​

 

541

​

 

615

Lapse of statute of limitations

​

 

(1,060)

​

 

(637)

​

 

(58)

Effect of changes in exchange rates

​

 

2,478

​

 

1,514

​

 

(211)

Unrecognized tax benefits–end of period

​

 

17,132

​

 

12,470

​

 

11,861

Interest and penalties–end of period

​

 

3,909

​

 

2,804

​

 

1,689

Total liabilities related to uncertain tax positions

​

$

21,041

​

$

15,274

​

$

13,550