v3.26.1
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Income Taxes  
Schedule of income before income taxes attributable to domestic and foreign operations

The amounts of income before income taxes attributable to domestic and foreign operations were as follows (in thousands):

For the Year ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

 

  ​

 

  ​

 

  ​

Domestic

$

13,331

$

12,038

$

6,936

Foreign

 

36,491

 

38,031

 

49,450

Total

$

49,822

$

50,069

$

56,386

Schedule of provision for income taxes

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

For the Year ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Current income taxes:

 

  ​

 

  ​

 

  ​

Federal

$

3,254

$

6,817

$

8,329

State

 

1,170

 

894

 

1,015

 

4,424

 

7,711

 

9,344

Deferred income taxes:

 

 

Federal

2,664

(1,046)

 

(2,367)

State

(293)

(2)

(409)

2,371

 

(1,048)

 

(2,776)

Provision for income taxes

$

6,795

$

6,663

$

6,568

Schedule of effective income tax rate reconciliation The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and our effective rate for the year ended June 30, 2026, pursuant to the requirements of ASU 2023-09, were as follows: (in thousands, except for percentages):

2026

% of Pre-tax

Amount

  ​ ​ ​

Income

  ​ ​ ​

U.S. federal statutory income tax rate

$

10,463

21.0

%  

State and local income taxes, net(1)

633

1.3

%  

Increases (decreases) in taxes resulting from:

Foreign tax effects

 

  ​

 

  ​

 

Dominican Republic (DR)

 

Statutory tax rate difference between DR and U.S.

 

(7,663)

 

(15.4)

%  

Withholding tax

463

0.9

%  

Effects of cross-board tax laws

Global intangible low-taxed income

3,762

7.6

Nontaxable or Nondeductible items

 

 

Share-based payment awards

 

(37)

 

(0.1)

%  

Executive compensation

157

0.3

%  

Other, net

 

73

 

0.2

%  

Tax credits

(735)

(1.5)

Change in uncertain tax positions

 

(27)

 

(0.1)

%  

Other adjustments

 

(294)

 

(0.6)

%  

Effective tax rate

$

6,795

 

13.6

%  

(1) State taxes in California, Massachusetts, New Jersey and New York make up greater than 50% of the tax effect in this category.

As previously disclosed for the years ended June 30, 2025 and 2024, prior to the adoption of ASU 2023-09, the items accounting for the difference between income taxes computed at the U.S. federal statutory rate and our effective rate were as follows (in thousands, except for percentages):

2025

 

2024

 

% of

% of

Pre-tax

Pre-tax

  ​ ​ ​

Amount

  ​ ​ ​

Income

 

Amount

  ​ ​ ​

Income

 

Tax at Federal statutory rate

$

10,515

21.0

%

$

11,841

21.0

%

Increases (decreases) in taxes resulting from:

 

  ​

 

  ​

  ​

 

  ​

Meals and entertainment

 

68

 

0.1

%

66

 

0.1

%

State income taxes, net of Federal income tax benefit

 

704

 

1.4

%

935

 

1.7

%

Global intangible low-taxed income

3,981

8.0

%

5,259

9.3

%

R&D Credit

 

(461)

 

(0.9)

%

(632)

 

(1.1)

%

Executive Compensation

 

183

 

0.4

%

47

 

0

%

Foreign Source income not subject to Tax

(7,986)

(16.0)

%

(10,518)

(18.7)

%

Uncertain Tax Positions

 

(825)

 

(1.6)

%

78

 

0.1

%

Other, net

 

484

 

0.8

%

(508)

 

(0.9)

%

Effective tax rate

$

6,663

 

13.3

%

$

6,568

 

11.6

%

Schedule of deferred tax assets and liabilities

Deferred tax assets and deferred tax liabilities at June 30, 2026 and 2025 are as follows (in thousands):

Deferred Tax Assets (Liabilities)

  ​ ​ ​

2026

  ​ ​ ​

2025

Accounts receivable

$

25

$

6

Inventories

 

598

 

633

Accrued liabilities

 

675

 

675

Stock based compensation expense

 

358

 

474

Revenue reserves

282

520

Unrealized loss on marketable securities

69

69

Capitalized research and development cost

948

6,181

Litigation settlement

3,888

Total Deferred Tax Assets

$

6,843

$

8,558

Valuation allowance

 

 

Deferred income tax assets, net of valuation allowance

$

6,843

$

8,558

Intangibles

 

(726)

 

(802)

Property, plant and equipment

 

(934)

 

(667)

Other deferred tax liabilities

 

(1,078)

 

(613)

Total Deferred Tax Liability

$

(2,738)

$

(2,082)

Net Deferred Tax Asset

$

4,105

$

6,476

Schedule of income taxes paid, net of refunds

June 30, 2026

  ​ ​ ​

  ​

Federal

$

2,693

State

New York

294

Other States

518

Total cash paid for income taxes, net of refunds received

$

3,505

Schedule of recognized tax benefits roll forward

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

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

Balance of gross unrecognized tax benefits as of Beginning of Year

$

22

$

700

$

700

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

 

 

 

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

(22)

(678)

Balance of gross unrecognized tax benefits as of End of Year

$

$

22

$

700