v3.26.3
Income Taxes
 3 Months Ended
Sep. 30, 2026
Income Taxes  
Income Taxes

Note 9.Income Taxes

The income tax provision is calculated using an estimated annual effective tax rate based upon estimates of annual income, permanent items, statutory tax rates and planned tax strategies in the various jurisdictions in which the Company operates, except that certain discrete items such as the resolution of uncertain tax positions and stock-based accounting income tax benefits are treated separately.

Income tax expense included on our accompanying consolidated statements of operations is as follows, (dollars in thousands):

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Three months ended September 30,

​

2026

  ​ ​ ​

2025

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Provision for income taxes(1)

$

2,340

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$

2,470

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Effective tax rate

​

15.2

%

​

16.9

%

(1)Net discrete income tax expense of $0 and $342,000, are included in the provision for income taxes for the three months ended September 30, 2026 and 2025, respectively.

The difference between the U.S. statutory tax rate of 21% and the effective tax rate in both periods is primarily due to lower tax rates in foreign jurisdictions and the related effect of global intangible low-taxed income (“GILTI”), tax benefit of R&D credits, offset by state and local income taxes and certain nondeductible expenses income.

We file a consolidated U.S. income tax return and tax returns in certain state and local and foreign jurisdictions. As of September 30, 2026, fiscal years 2023 and forward are still open for examination. In addition, the Company has a wholly-owned subsidiary which operates in a Free Zone in the Dominican Republic (“DR”) and is exempt from DR income tax.