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