v3.26.1
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense (Benefit)
Income tax expense (benefit) consists of:
Fiscal Year Ended June 30,
202620252024
(in thousands)
Current:
Federal$16,658 $12,736 $15,626 
State4,452 3,805 3,608 
Foreign(805)3,498 5,578 
Total current20,305 20,039 24,812 
Deferred:
Federal1,982 2,320 (827)
State1,938 (217)(911)
Foreign645 706 (293)
Total deferred4,565 2,809 (2,031)
Provision for income taxes$24,870 $22,848 $22,781 
Schedule of Reconciliation of U.S. Federal Income Tax Expense
The following table presents a reconciliation of the statutory income tax rate, expressed as a percentage of income before income taxes, to the effective income tax rate for the year ended June 30, 2026, following the adoption of ASU 2023-09.
Fiscal Year Ended June 30, 2026
$%
(in thousands)
U.S. Federal income tax at statutory rate$21,78621.0 %
United States
State and Local Income Taxes(1)
5,4555.3 %
Federal
Effect of Cross-Border Tax Laws
Global intangible low-taxed income(475)(0.5)%
FDII(481)(0.5)%
Subpart F Income1,6371.6 %
Other(136)(0.1)%
Tax Credits
Foreign Tax Credit(1,380)(1.3)%
Changes in Valuation Allowances(6,162)(5.9)%
Nontaxable or Nondeductible Items
Non-deductible compensation2,3102.2 %
Capital Loss Expiration5,3305.1 %
Other(82)(0.1)%
Other Adjustments(571)(0.6)%
Brazil
Non-taxable income(1,197)(1.2)%
Pillar-Two1,1881.1 %
Payable true-up(2,551)(2.5)%
Other(336)(0.3)%
Other Foreign Jurisdictions2270.2 %
Changes in Unrecognized Tax Benefits3080.3 %
Provision for income taxes$24,87024.0 %
(1) The states that contribute the majority (greater than 50.0%) of the tax effect in this category include California, Illinois, Minnesota, New Jersey and New York.

The following table presents a reconciliation of the U.S. Federal income tax expense for the fiscal years ended June 30, 2025 and June 30, 2024 with the applicable statutory rate of 21.0%, prior to the adoption of ASU 2023-09.
Fiscal Year Ended June 30,
20252024
(in thousands)
U.S. statutory rate21.0 %21.0 %
U.S. Federal income tax at statutory rate$19,823 $20,967 
Increase (decrease) in income taxes due to:
State and local income taxes, net of Federal benefit2,788 1,939 
Tax credits(573)(1,794)
Valuation allowance(445)1,131 
Effect of varying statutory rates in foreign operations, net1,382 2,109 
Stock compensation(1,258)(76)
Reduction in prior year transition tax(2,065)— 
Earnings from foreign subsidiaries778 776 
Losses on dispositions— (2,816)
Global intangible low taxed income tax
475 (832)
Nontaxable income(136)(927)
Nondeductible compensation2,144 1,412 
Notional interest deduction on net equity(928)— 
Other863 892 
Provision for income taxes$22,848 $22,781 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below:
June 30,
20262025
(in thousands)
Deferred tax assets derived from:
Allowance for accounts receivable$4,720 $8,055 
Inventories2,651 2,690 
Nondeductible accrued expenses8,310 7,376 
Net operating loss carryforwards273 268 
Tax credits8,876 9,574 
Deferred compensation7,678 6,984 
Stock compensation4,946 4,186 
Capital loss carryforwards5,170 11,579 
Timing of amortization deduction from intangible assets2,342 7,675 
Timing of depreciation and other deductions from building and equipment694 437 
Total deferred tax assets45,660 58,824 
Valuation allowance(13,322)(19,633)
Total deferred tax assets, net of allowance32,338 39,191 
Deferred tax liabilities derived from:
Timing of amortization deduction from goodwill(21,748)(17,659)
Timing of amortization deduction from intangible assets— (2,763)
Total deferred tax liabilities(21,748)(20,422)
Net deferred tax assets$10,590 $18,769 
Schedule of Components of Pretax Earnings
The components of pretax earnings are as follows:
Fiscal Year Ended June 30,
202620252024
(in thousands)
Domestic$91,799 $78,460 $78,653 
Foreign11,944 15,936 21,188 
Worldwide pretax earnings$103,743 $94,396 $99,841 
Schedule of Unrecognized Tax Benefits Roll Forward A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
June 30,
202620252024
(in thousands)
Beginning Balance$698 $1,141 $1,172 
Additions based on tax positions related to the current year75 86 89 
Additions based on tax positions related to prior years605 — — 
Reduction for tax positions of prior years(82)(529)(120)
Ending Balance$1,296 $698 $1,141 
Schedule of Net Income Taxes Paid
The following table presents income taxes paid, net of refunds, for the year ended June 30, 2026, based on the adoption of ASU 2023-09:
Fiscal year ended June 30, 2026
(in thousands)
Federal$21,606 
State4,864 
Foreign
Brazil2,386 
Other Foreign48 
Total$28,904