v3.26.3
Note C - Property and Equipment
 12 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

C. Property and Equipment

 

Property and equipment consisted of the following at June 30 (dollars in thousands):

 

 

Depreciable

        
 

Life

        
 

In Years

 

2026

  

2025

 

Land

NA

 $5,132  $8,940 

Building and building improvements

7 – 39

  14,606   24,650 

Machinery and equipment

3 – 12

  41,146   41,311 

Office equipment and furniture

3 – 5

  6,432   6,936 

Vehicles

3

  237   237 

Leasehold improvements

1 – 20

  26,282   24,788 

Total property and equipment

   93,835   106,862 

Less: accumulated depreciation and amortization

   (58,230)  (55,972)

Property and equipment, net

  $35,605  $50,890 

 

During fiscal year 2026, we disposed of machinery and equipment primarily due to obsolescence with total original value of $804,000 and related accumulated depreciation of $798,000 resulting in a loss on disposal of assets of $6,000.

 

During fiscal year 2025, we disposed of machinery and equipment primarily due to obsolescence with total original value of $3.945 million and related accumulated depreciation of $3.896 million resulting in a loss on disposal of assets of $49,000. 

 

Depreciation and amortization expense was approximately $4.7 million in fiscal 2026 and $4.6 million in fiscal 2025.

 

As of June 30, 2026, we had met all of the criteria required for treatment of the Company's corporate headquarters building, land and other fixed assets located in Carlsbad, California as assets held for sale. The assets held for sale are reported at their combined carrying value of $4.0 million as of  June 30, 2026. We estimate the sale of these assets to occur during our fiscal year 2027. No impairment loss was recognized upon classification to assets held for sale.