Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2018 | Nov. 13, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | NATURAL ALTERNATIVES INTERNATIONAL INC | |
Entity Central Index Key | 787,253 | |
Trading Symbol | naii | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 7,570,871 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 27,613 | $ 23,613 |
Accounts receivable - less allowance for doubtful accounts of $63 at September 30, 2018 and $49 at June 30, 2018 | 12,733 | 14,621 |
Note receivable | 1,500 | 1,500 |
Inventories, net | 24,972 | 23,567 |
Prepaids and other current assets | 3,087 | 1,882 |
Total current assets | 69,905 | 65,183 |
Property and equipment, net | 19,277 | 19,290 |
Other noncurrent assets, net | 920 | 734 |
Total assets | 90,102 | 85,207 |
Current liabilities: | ||
Accounts payable | 10,064 | 9,649 |
Accrued liabilities | 2,302 | 2,346 |
Accrued compensation and employee benefits | 1,612 | 1,498 |
Income taxes payable | 1,442 | 787 |
Total current liabilities | 15,420 | 14,280 |
Long-term pension liability | 57 | 45 |
Deferred rent | 555 | 556 |
Income taxes payable, noncurrent | 1,546 | 1,546 |
Deferred income taxes | (648) | (532) |
Total liabilities | 18,226 | 16,959 |
Commitments and contingencies (Note K) | ||
Stockholders’ equity: | ||
Preferred stock; $.01 par value; 500,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock; $.01 par value; 20,000,000 shares authorized; issued and outstanding (net of treasury shares) 7,577,735 at September 30, 2018 and 7,558,408 at June 30, 2018 | 85 | 85 |
Additional paid-in capital | 25,177 | 24,486 |
Retained earnings | 53,399 | 50,839 |
Treasury stock, at cost, 1,098,942 shares at September 30, 2018 and 1,098,268 June 30, 2018 | (6,590) | (6,584) |
Accumulated other comprehensive loss | (195) | (578) |
Total stockholders’ equity | 71,876 | 68,248 |
Total liabilities and stockholders’ equity | $ 90,102 | $ 85,207 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Accounts receivable, allowance for doubtful accounts | $ 63 | $ 49 |
Preferred stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 7,577,735 | 7,558,408 |
Common stock, shares outstanding (in shares) | 7,577,735 | 7,558,408 |
Treasury stock, shares (in shares) | 1,098,942 | 1,098,268 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Net sales | $ 36,532 | $ 28,074 |
Cost of goods sold | 29,369 | 21,704 |
Gross profit | 7,163 | 6,370 |
Selling, general and administrative expenses | 4,439 | 4,487 |
Income from operations | 2,724 | 1,883 |
Other income (expense): | ||
Interest income | 555 | 250 |
Interest expense | (3) | |
Foreign exchange loss | (78) | (143) |
Other, net | 23 | 1 |
Total other income | 497 | 108 |
Income before income taxes | 3,221 | 1,991 |
Provision for income taxes | 662 | 557 |
Net income | 2,559 | 1,434 |
Unrealized gain (loss) resulting from change in fair value of derivative instruments, net of tax | 383 | (1,134) |
Comprehensive income | $ 2,942 | $ 300 |
Net income per common share: | ||
Basic (in dollars per share) | $ 0.38 | $ 0.22 |
Diluted (in dollars per share) | $ 0.37 | $ 0.21 |
Weighted average common shares outstanding: | ||
Basic (in shares) | 6,764,962 | 6,606,518 |
Diluted (in shares) | 6,964,942 | 6,831,230 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities | ||
Net income | $ 2,559 | $ 1,434 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 792 | 717 |
Non-cash sales discount | 245 | 163 |
Non-cash compensation | 409 | 301 |
Pension expense | 12 | 51 |
(Gain) loss on disposal of assets | (1) | 1 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 1,888 | (799) |
Notes Receivable | ||
Inventories, net | (1,405) | (5,267) |
Prepaids and other assets | (993) | 52 |
Accounts payable and accrued liabilities | 471 | 5,773 |
Accrued compensation and employee benefits | 114 | (604) |
Income taxes | 655 | 492 |
Net cash provided by operating activities | 4,746 | 2,314 |
Cash flows from investing activities | ||
Purchases of property and equipment | (796) | (956) |
Proceeds from sale of property and equipment | 19 | 5 |
Issuance of notes receivable | (1,500) | |
Net cash used in investing activities | (777) | (2,451) |
Cash flows from financing activities | ||
Repurchase of common stock | (6) | |
Issuance of common stock | 37 | |
Net cash provided by financing activities | 31 | |
Net increase (decrease) in cash and cash equivalents | 4,000 | (137) |
Cash and cash equivalents at beginning of period | 23,613 | 27,843 |
Cash and cash equivalents at end of period | 27,613 | 27,706 |
Supplemental disclosures of cash flow information | ||
Interest | 3 | |
Taxes | 7 | 76 |
Disclosure of non-cash activities: | ||
Change in unrealized gain (loss) resulting from change in fair value of derivative instruments, net of tax | $ 383 | $ (1,134) |
Note A - Basis of Presentation
Note A - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | A. Basis of Presentation and Summary of Significant Accounting Policies The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10 three September 30, 2018 not You should read the financial statements and these notes, which are an integral part of the financial statements, together with our audited financial statements included in our Annual Report on Form 10 June 30, 2018 ( “2018 2018 Recently Adopted Accounting Pronouncements In April 2017, No. 2017 10, 606 2017 10 2014 09 May 2017, No. 2017 11, 605 815 2017 11 2014 09. May 2017, No. 2017 12, 606 2017 12 2014 09. 606. This standard outlines a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and supersedes most current historical revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods and services in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods and services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with their respective customers. The new revenue standard is required to be applied either retrospectively to each prior reporting period presented or prospectively with the cumulative effect of initially applying the standard recognized at the date of the initial application, supplemented with certain disclosures related to the effect of adoption on previously reported amounts, if any (the modified retrospective method). We adopted the standard on July 1, 2018 not not not On December 22, 2017, No. 118, 118” not 118, 2018 not 2018 one December 22, 2018. In February 2018, 2018 03, 825 10 2018 03 not 2018 03 first 2019. Recently Issued Accounting Pronouncements In March 2016, No. 2016 02, 842 2016 02 July 2018, 2018 10, 842, No. 2016 02 840, 840, first 2020. In August 2017, 2017 12, 815 2017 12 2017 12 first 2020. In February 2018, 2018 02, 220 2018 02 2018 02 first 2020. In June 2018, 2018 07, 718 718 not 606, 2018 07 first 2020. Other recently issued accounting pronouncements did not not Net Income per Common Share We compute net income per common share using the weighted average number of common shares outstanding during the period, and diluted net income per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options accounts for the additional weighted average shares of common stock outstanding for our diluted net income per common share computation. We calculated basic and diluted net income per common share as follows (in thousands, except per share data): Three Months Ended September 30, 2018 2017 Numerator Net income $ 2,559 $ 1,434 Denominator Basic weighted average common shares outstanding 6,765 6,607 Dilutive effect of stock options 200 224 Diluted weighted average common shares outstanding 6,965 6,831 Basic net income per common share $ 0.38 $ 0.22 Diluted net income per common share $ 0.37 $ 0.21 We excluded shares related to restricted stock totaling 15,000 three September 30, 2018, No three September 30, 2018. No three September 30, 2017. Revenue Recognition We record revenue based on the five 1 2 3 4 5 Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling one 30 Revenue is recognized at the point in time that our performance obligation is fulfilled, and control of the ordered products is transferred to the customer. This occurs when the product is shipped, or in some cases, when the product is delivered to the customer. We provide early payment discounts to certain customers. Based on historical payment trends, we expect that these customers will take advantage of these early payment discounts. The cost of these discounts is reported as a reduction to the transaction price. If the actual discounts differ from those estimated, the difference is reported as a change in the transaction price. Except for product defects, no September 30, 2018, no On August 7, 2017, three 24 500,000 5 may $245,000 three September 30, 2018 $163,000 three September 30, 2017 We currently own certain U.S. patents, and each patent’s corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as beta-alanine marketed and sold under our CarnoSyn® and SR CarnoSyn® trade names. We recorded beta-alanine raw material sales and royalty and licensing income as a component of revenue in the amount of $5.4 three September 30, 2018 $5.9 three September 30, 2017. $263,000 three September 30, 2018, $284,000 three September 30, 2017. Notes Receivable On September 30, 2017, 12 one $1.5 September 30, 2018, September 30, 2018 December 28, 2018 $25,000. one fifteen 15% $58,000 three September 30, 2018 zero three September 30, 2017. Stock-Based Compensation We have an omnibus equity incentive plan that was approved by our Board of Directors effective October 15, 2009 November 30, 2009. 2009 may We estimate the fair value of stock option awards at the date of grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no not We recognize forfeitures as they occur. We did not three September 30, 2018 three September 30, 2017. three September 30, 2018, 5,000 no three September 30, 2017. no three September 30, 2018 three September 30, 2017. During the three September 30, 2018, 15,000 not three September 30, 2017. $409,000 three September 30, 2018, $301,000 three September 30, 2017. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use a three The fair value hierarchy is broken down into three 1 1 2 not 3 As of September 30, 2018, June 30, 2018, not 1, 2 September 30, 2018 $1.0 June 30, 2018 $55,000 $55,000, no September 30, 2018, June 30, 2018, not 3. not 2018 three September 30, 2018. Concentrations of Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with highly rated financial institutions. Credit risk with respect to receivables is concentrated with our three 67.6% September 30, 2018 76.6% June 30, 2018. 20.4% September 30, 2018, 17.3% June 30, 2018. |
Note B - Inventories, Net
Note B - Inventories, Net | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | B. Inventories, net Inventories, net consisted of the following (in thousands): September 30, 2018 June 30, 2018 Raw materials $ 17,092 $ 16,209 Work in progress 3,256 4,268 Finished goods 5,005 3,462 Reserve (381 ) (372 ) $ 24,972 $ 23,567 |
Note C - Property and Equipment
Note C - Property and Equipment | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | C. Property and Equipment Property and equipment consisted of the following (in thousands): Depreciable Life In Years September 30, 2018 June 30, 2018 Land NA $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,721 3,721 Machinery and equipment 3 – 12 28,393 28,185 Office equipment and furniture 3 – 5 4,861 4,883 Vehicles 3 313 209 Leasehold improvements 1 – 15 15,821 15,688 Total property and equipment 54,309 53,886 Less: accumulated depreciation and amortization (35,032 ) (34,596 ) Property and equipment, net $ 19,277 $ 19,290 |
Note D - Other Comprehensive Lo
Note D - Other Comprehensive Loss | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | D. Other Comprehensive Loss Other comprehensive (loss) income (“OCL” and “OCI”) consisted of the following during the three September 30, 2018 September 30, 2017 ( Three months ended September 30, 2018 Defined Benefit Pension Plan Unrealized (Losses) Gains on Cash Flow Hedges Total Balance as of June 30, 2018 $ (387 ) $ (191 ) $ (578 ) OCI/OCL before reclassifications — 945 945 Amounts reclassified from OCI — (446 ) (446 ) Tax effect of OCI activity — (116 ) (116 ) Net current period OCI/OCL — 383 383 Balance as of September 30, 2018 $ (387 ) $ 192 $ (195 ) During the three September 30, 2018, $41,000 $487,000 Three months ended September 30, 2017 Defined Benefit Pension Plan Unrealized Gains (Losses) on Cash Flow Hedges Total Balance as of June 30, 2017 $ (491 ) $ (414 ) $ (905 ) OCI/OCL before reclassifications — (1,953 ) (1,953 ) Amounts reclassified from OCI — 178 178 Tax effect of OCI activity — 641 641 Net current period OCI/OCL — (1,134 ) (1,134 ) Balance as of September 30, 2017 $ (491 ) $ (1,548 ) $ (2,039 ) During the three September 30, 2017, $422,000 $244,000 |
Note E - Debt
Note E - Debt | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | E. Debt On March 20, 2018, February 1, 2020, February 1, 2021. $10.0 may no Under the terms of the Credit Agreement, borrowings are subject to eligibility requirements including maintaining (i) a ratio of total liabilities to tangible net worth of not 1.25 1.0 not 1.75 1.0 $100,000 1.25% one 1.25% first may may $100,000, Our obligations under the Credit Agreement are secured by our accounts receivable and other rights to payment, general intangibles, inventory, equipment and fixtures. We also have a foreign exchange facility with Wells Fargo Bank, N.A. in effect until January 31, 2021, August 15, 2019. On September 30, 2018, We did not three September 30, 2018. September 30, 2018, $10.0 |
Note F - Economic Dependency
Note F - Economic Dependency | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | F. Economic Dependency We had substantial net sales to certain customers during the periods shown in the following table. The loss of any of these customers, or a significant decline in any of (i) the in sales to these customers, (ii) the growth rate of sales to these customers, or (iii) in these customers’ ability to make payments when due, each could have a material adverse impact on our net sales and net income. Net sales to any one 10% Three months Ended September 30, 2018 2017 Customer 1 $ 21,078 $ 13,157 Customer 2 3,729 3,161 $ 24,807 $ 16,318 We buy certain products, including beta-alanine, from a limited number of raw material suppliers who meet our quality standards. The loss of any of these suppliers could have a material adverse impact on our net sales and net income. Raw material purchases from any one 10% Three months Ended September 30, 2018 201 7 Raw Material Purchases by Supplier % of Total Raw Material Purchases Raw Material Purchases by Supplier % of Total Raw Material Purchases Supplier 1 $ 3,107 15 % (a ) (a ) Supplier 2 (a ) (a ) 1,967 14 % $ 3,107 15 % $ 1,967 14 % (a) Purchases were less than 10% |
Note G - Segment Information
Note G - Segment Information | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | G. Segment Information Our business consists of two two We evaluate performance based on a number of factors. The primary performance measures for each segment are net sales and income or loss from operations before corporate allocations. Operating income or loss for each segment does not not not 2018 Our operating results by business segment were as follows (in thousands): Three months Ended September 30, 2018 201 7 Net Sales Private-label contract manufacturing $ 31,087 $ 22,222 Patent and trademark licensing 5,445 5,852 $ 36,532 $ 28,074 Three months Ended September 30, 2018 201 7 Income from Operations Private-label contract manufacturing $ 3,145 $ 2,257 Patent and trademark licensing 1,802 1,188 Income from operations of reportable segments 4,947 3,445 Corporate expenses not allocated to segments (2,223 ) (1,562 ) $ 2,724 $ 1,883 September 30, 2018 June 30, 2018 Total Assets Private-label contract manufacturing $ 72,677 $ 69,037 Patent and trademark licensing 17,425 16,170 $ 90,102 $ 85,207 Our private-label contract manufacturing products are sold both in the U.S. and in markets outside the U.S., including Europe, Canada, Australia, New Zealand, and Asia. Our primary markets outside the U.S. are Europe and Asia. Our patent and trademark licensing activities are primarily based in the U.S. Net sales by geographic region, based on the customers’ location, were as follows (in thousands): Three months Ended September 30, 2018 2017 United States $ 17,646 $ 15,194 Markets outside the United States 18,886 12,880 Total net sales $ 36,532 $ 28,074 Products manufactured by NAIE accounted for 72% three September 30, 2018, 75% three September 30, 2017. No three September 30, 2018 2017. Assets and capital expenditures by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands): Long-Lived Assets Total Assets Capital Expenditures Three Months Ended September 30, 2018 June 30, 201 8 September 30, 2018 June 30, 2018 September 30, 2018 September 30, 201 7 United States $ 10,841 $ 10,887 $ 54,279 $ 51,562 $ 337 $ 89 Europe 8,436 8,403 35,823 33,645 459 867 $ 19,277 $ 19,290 $ 90,102 $ 85,207 $ 796 $ 956 |
Note H - Income Taxes
Note H - Income Taxes | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | H. Income Taxes The effective tax rate for the three September 30, 2018 20.6%. 21% three September 30, 2017 28.0%. To determine our quarterly provision for income taxes, we use an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions to which we are subject. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rate from quarter to quarter. There were no three September 30, 2018. We record valuation allowances to reduce our deferred tax assets to an amount we believe is more likely than not not three September 30, 2018, no Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are measured using enacted tax rates, for each of the jurisdictions in which we operate, expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date for such new rates. We are subject to taxation in the U.S., Switzerland and various state jurisdictions. Our tax years for the fiscal year ended June 30, 2015 June 30, 2007 June 30, 2015 It is our policy to establish reserves based on management’s assessment of exposure for certain positions taken in previously filed tax returns that may no three September 30, 2018. |
Note I - Treasury Stock
Note I - Treasury Stock | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | I. Treasury Stock On June 2, 2011, $2.0 February 6, 2015, $1.0 $3.0 May 11, 2015, $2.0 $5.0 March 28, 2018, $2.0 $7.0 may, During the three September 30, 2018 September 30, 2017, not During the three September 30, 2018, 674 $9.65 $6,000. three September 30, 2017, 734 $10.70 $8,000. |
Note J - Derivatives and Hedgin
Note J - Derivatives and Hedging | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | J. Derivatives and Hedging We are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to forecasted product sales denominated in foreign currencies and to other transactions of NAIE, our foreign subsidiary. As part of our overall strategy to manage the level of exposure to the risk of fluctuations in foreign currency exchange rates, we may no As of September 30, 2018, August 2020. For foreign currency contracts designated as cash flow hedges, hedge effectiveness is measured using the spot rate. Changes in the spot-forward differential are excluded from the test of hedge effectiveness and are recorded currently in earnings as interest expense. We measure effectiveness by comparing the cumulative change in the hedge contract with the cumulative change in the hedged item. During the three September 30, 2018, not No no As of September 30, 2018, $83.3 68.9 September 30, 2018, $171,000 $119,000 12 As of September 30, 2018, $955,000, $680,000 $275,000 three September 30, 2018, $458,000 $41,000 June 30, 2018, $55,000 $46,000 $101,000 three September 30, 2017, $2.2 $422,000 |
Note K - Contingencies
Note K - Contingencies | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | K. Contingencies From time to time, we become involved in various investigations, claims and legal proceedings that arise in the ordinary course of our business. These matters may not not |
Note L - Subsequent Events
Note L - Subsequent Events | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | L. Subsequent Events On October 19, 2018, five July 1, 2019 June 30, 2024 one one not On November 5, 2018, 2,870 five January 1, 2019 12 June 30th December 31st 12 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In April 2017, No. 2017 10, 606 2017 10 2014 09 May 2017, No. 2017 11, 605 815 2017 11 2014 09. May 2017, No. 2017 12, 606 2017 12 2014 09. 606. This standard outlines a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and supersedes most current historical revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods and services in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods and services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with their respective customers. The new revenue standard is required to be applied either retrospectively to each prior reporting period presented or prospectively with the cumulative effect of initially applying the standard recognized at the date of the initial application, supplemented with certain disclosures related to the effect of adoption on previously reported amounts, if any (the modified retrospective method). We adopted the standard on July 1, 2018 not not not On December 22, 2017, No. 118, 118” not 118, 2018 not 2018 one December 22, 2018. In February 2018, 2018 03, 825 10 2018 03 not 2018 03 first 2019. Recently Issued Accounting Pronouncements In March 2016, No. 2016 02, 842 2016 02 July 2018, 2018 10, 842, No. 2016 02 840, 840, first 2020. In August 2017, 2017 12, 815 2017 12 2017 12 first 2020. In February 2018, 2018 02, 220 2018 02 2018 02 first 2020. In June 2018, 2018 07, 718 718 not 606, 2018 07 first 2020. Other recently issued accounting pronouncements did not not |
Earnings Per Share, Policy [Policy Text Block] | Net Income per Common Share We compute net income per common share using the weighted average number of common shares outstanding during the period, and diluted net income per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options accounts for the additional weighted average shares of common stock outstanding for our diluted net income per common share computation. We calculated basic and diluted net income per common share as follows (in thousands, except per share data): Three Months Ended September 30, 2018 2017 Numerator Net income $ 2,559 $ 1,434 Denominator Basic weighted average common shares outstanding 6,765 6,607 Dilutive effect of stock options 200 224 Diluted weighted average common shares outstanding 6,965 6,831 Basic net income per common share $ 0.38 $ 0.22 Diluted net income per common share $ 0.37 $ 0.21 We excluded shares related to restricted stock totaling 15,000 three September 30, 2018, No three September 30, 2018. No three September 30, 2017. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition We record revenue based on the five 1 2 3 4 5 Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling one 30 Revenue is recognized at the point in time that our performance obligation is fulfilled, and control of the ordered products is transferred to the customer. This occurs when the product is shipped, or in some cases, when the product is delivered to the customer. We provide early payment discounts to certain customers. Based on historical payment trends, we expect that these customers will take advantage of these early payment discounts. The cost of these discounts is reported as a reduction to the transaction price. If the actual discounts differ from those estimated, the difference is reported as a change in the transaction price. Except for product defects, no September 30, 2018, no On August 7, 2017, three 24 500,000 5 may $245,000 three September 30, 2018 $163,000 three September 30, 2017 We currently own certain U.S. patents, and each patent’s corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as beta-alanine marketed and sold under our CarnoSyn® and SR CarnoSyn® trade names. We recorded beta-alanine raw material sales and royalty and licensing income as a component of revenue in the amount of $5.4 three September 30, 2018 $5.9 three September 30, 2017. $263,000 three September 30, 2018, $284,000 three September 30, 2017. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Notes Receivable On September 30, 2017, 12 one $1.5 September 30, 2018, September 30, 2018 December 28, 2018 $25,000. one fifteen 15% $58,000 three September 30, 2018 zero three September 30, 2017. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation We have an omnibus equity incentive plan that was approved by our Board of Directors effective October 15, 2009 November 30, 2009. 2009 may We estimate the fair value of stock option awards at the date of grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no not We recognize forfeitures as they occur. We did not three September 30, 2018 three September 30, 2017. three September 30, 2018, 5,000 no three September 30, 2017. no three September 30, 2018 three September 30, 2017. During the three September 30, 2018, 15,000 not three September 30, 2017. $409,000 three September 30, 2018, $301,000 three September 30, 2017. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use a three The fair value hierarchy is broken down into three 1 1 2 not 3 As of September 30, 2018, June 30, 2018, not 1, 2 September 30, 2018 $1.0 June 30, 2018 $55,000 $55,000, no September 30, 2018, June 30, 2018, not 3. not 2018 three September 30, 2018. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with highly rated financial institutions. Credit risk with respect to receivables is concentrated with our three 67.6% September 30, 2018 76.6% June 30, 2018. 20.4% September 30, 2018, 17.3% June 30, 2018. |
Note A - Basis of Presentatio_2
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, 2018 2017 Numerator Net income $ 2,559 $ 1,434 Denominator Basic weighted average common shares outstanding 6,765 6,607 Dilutive effect of stock options 200 224 Diluted weighted average common shares outstanding 6,965 6,831 Basic net income per common share $ 0.38 $ 0.22 Diluted net income per common share $ 0.37 $ 0.21 |
Note B - Inventories, Net (Tabl
Note B - Inventories, Net (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, 2018 June 30, 2018 Raw materials $ 17,092 $ 16,209 Work in progress 3,256 4,268 Finished goods 5,005 3,462 Reserve (381 ) (372 ) $ 24,972 $ 23,567 |
Note C - Property and Equipme_2
Note C - Property and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Depreciable Life In Years September 30, 2018 June 30, 2018 Land NA $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,721 3,721 Machinery and equipment 3 – 12 28,393 28,185 Office equipment and furniture 3 – 5 4,861 4,883 Vehicles 3 313 209 Leasehold improvements 1 – 15 15,821 15,688 Total property and equipment 54,309 53,886 Less: accumulated depreciation and amortization (35,032 ) (34,596 ) Property and equipment, net $ 19,277 $ 19,290 |
Note D - Other Comprehensive _2
Note D - Other Comprehensive Loss (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2018 Defined Benefit Pension Plan Unrealized (Losses) Gains on Cash Flow Hedges Total Balance as of June 30, 2018 $ (387 ) $ (191 ) $ (578 ) OCI/OCL before reclassifications — 945 945 Amounts reclassified from OCI — (446 ) (446 ) Tax effect of OCI activity — (116 ) (116 ) Net current period OCI/OCL — 383 383 Balance as of September 30, 2018 $ (387 ) $ 192 $ (195 ) Three months ended September 30, 2017 Defined Benefit Pension Plan Unrealized Gains (Losses) on Cash Flow Hedges Total Balance as of June 30, 2017 $ (491 ) $ (414 ) $ (905 ) OCI/OCL before reclassifications — (1,953 ) (1,953 ) Amounts reclassified from OCI — 178 178 Tax effect of OCI activity — 641 641 Net current period OCI/OCL — (1,134 ) (1,134 ) Balance as of September 30, 2017 $ (491 ) $ (1,548 ) $ (2,039 ) |
Note F - Economic Dependency (T
Note F - Economic Dependency (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Supplier Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months Ended September 30, 2018 201 7 Raw Material Purchases by Supplier % of Total Raw Material Purchases Raw Material Purchases by Supplier % of Total Raw Material Purchases Supplier 1 $ 3,107 15 % (a ) (a ) Supplier 2 (a ) (a ) 1,967 14 % $ 3,107 15 % $ 1,967 14 % |
Customer Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months Ended September 30, 2018 2017 Customer 1 $ 21,078 $ 13,157 Customer 2 3,729 3,161 $ 24,807 $ 16,318 |
Note G - Segment Information (T
Note G - Segment Information (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months Ended September 30, 2018 201 7 Net Sales Private-label contract manufacturing $ 31,087 $ 22,222 Patent and trademark licensing 5,445 5,852 $ 36,532 $ 28,074 Three months Ended September 30, 2018 201 7 Income from Operations Private-label contract manufacturing $ 3,145 $ 2,257 Patent and trademark licensing 1,802 1,188 Income from operations of reportable segments 4,947 3,445 Corporate expenses not allocated to segments (2,223 ) (1,562 ) $ 2,724 $ 1,883 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, 2018 June 30, 2018 Total Assets Private-label contract manufacturing $ 72,677 $ 69,037 Patent and trademark licensing 17,425 16,170 $ 90,102 $ 85,207 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three months Ended September 30, 2018 2017 United States $ 17,646 $ 15,194 Markets outside the United States 18,886 12,880 Total net sales $ 36,532 $ 28,074 |
Long-lived Assets by Geographic Areas [Table Text Block] | Long-Lived Assets Total Assets Capital Expenditures Three Months Ended September 30, 2018 June 30, 201 8 September 30, 2018 June 30, 2018 September 30, 2018 September 30, 201 7 United States $ 10,841 $ 10,887 $ 54,279 $ 51,562 $ 337 $ 89 Europe 8,436 8,403 35,823 33,645 459 867 $ 19,277 $ 19,290 $ 90,102 $ 85,207 $ 796 $ 956 |
Note A - Basis of Presentatio_3
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) | Sep. 30, 2017USD ($) | Aug. 07, 2017shares | Sep. 30, 2018USD ($)shares | Sep. 30, 2017USD ($)shares | Jun. 30, 2018USD ($) |
Sales Discounts, Noncash | $ 245,000 | $ 163,000 | |||
Royalty and Licensing Revenue | 5,400,000 | 5,900,000 | |||
Royalty Expense | 263,000 | 284,000 | |||
Notes, Loans and Financing Receivable, Net, Current, Total | 1,500,000 | $ 1,500,000 | |||
Investment Income, Interest | $ 555,000 | $ 250,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 5,000 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | shares | 0 | 0 | |||
Allocated Share-based Compensation Expense, Total | $ 409,000 | $ 301,000 | |||
Foreign Currency Contract, Asset, Fair Value Disclosure | $ 1,000,000 | 55,000 | |||
Foreign Currency Contracts, Liability, Fair Value Disclosure | $ 55,000 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Concentration of Risk Number of Major Customers | 3 | ||||
Concentration Risk, Percentage | 67.60% | 76.60% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Beta Alanine Raw Material Sale Customers [Member] | |||||
Concentration Risk, Percentage | 20.40% | 17.30% | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Net Asset (Liability), Total | $ 0 | $ 0 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Net Asset (Liability), Total | 0 | $ 0 | |||
Juice Plus + [Member] | |||||
Agreement, Term | 5 years | ||||
Kaged Muscle LLC [Member] | Notes Receivable [Member] | |||||
Notes, Loans and Financing Receivable, Term | 1 year | ||||
Notes, Loans and Financing Receivable, Net, Current, Total | $ 1,500,000 | $ 1,500,000 | |||
Notes, Loans and Financing Receivable, Extension Fee | 25,000 | ||||
Notes, Loans and Financing Receivable, Interest Rate, Stated Percentage | 15.00% | 15.00% | |||
Investment Income, Interest | $ 58,000 | $ 0 | |||
Restricted Stock [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 15,000 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 15,000 | 0 | |||
Restricted Stock [Member] | Juice Plus + [Member] | |||||
Stock Issuance Agreement, Shares Agreed to Grant | shares | 500,000 | ||||
Sales Discounts, Noncash | $ 245,000 | $ 163,000 | |||
Employee Stock Option [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 0 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note A - Basis of Presentatio_4
Note A - Basis of Presentation and Summary of Significant Accounting Policies - Calculation of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator | ||
Net income | $ 2,559 | $ 1,434 |
Denominator | ||
Basic weighted average common shares outstanding (in shares) | 6,764,962 | 6,606,518 |
Dilutive effect of stock options (in shares) | 200,000 | 224,000 |
Diluted weighted average common shares outstanding (in shares) | 6,964,942 | 6,831,230 |
Basic net income per common share (in dollars per share) | $ 0.38 | $ 0.22 |
Diluted net income per common share (in dollars per share) | $ 0.37 | $ 0.21 |
Note B - Inventories, Net - Sum
Note B - Inventories, Net - Summary of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Raw materials | $ 17,092 | $ 16,209 |
Work in progress | 3,256 | 4,268 |
Finished goods | 5,005 | 3,462 |
Reserve | (381) | (372) |
Inventories, net | $ 24,972 | $ 23,567 |
Note C - Property and Equipme_3
Note C - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Jun. 30, 2018 | |
Property and equipment, gross | $ 54,309 | $ 53,886 |
Less: accumulated depreciation and amortization | (35,032) | (34,596) |
Property and equipment, net | 19,277 | 19,290 |
Land [Member] | ||
Property and equipment, gross | 1,200 | 1,200 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | $ 3,721 | 3,721 |
Depreciable Life In Years (Year) | ||
Building and Building Improvements [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 7 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 39 years | |
Machinery and Equipment [Member] | ||
Property and equipment, gross | $ 28,393 | 28,185 |
Depreciable Life In Years (Year) | ||
Machinery and Equipment [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 12 years | |
Office Equipment [Member] | ||
Property and equipment, gross | $ 4,861 | 4,883 |
Depreciable Life In Years (Year) | ||
Office Equipment [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 3 years | |
Office Equipment [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 5 years | |
Vehicles [Member] | ||
Property and equipment, gross | $ 313 | 209 |
Depreciable Life In Years (Year) | 3 years | |
Vehicles [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 3 years | |
Vehicles [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | ||
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 15,821 | $ 15,688 |
Depreciable Life In Years (Year) | ||
Leasehold Improvements [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 1 year | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 15 years |
Note D - Other Comprehensive _3
Note D - Other Comprehensive Loss (Details Textual) - USD ($) | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues, Total | $ 36,532,000 | $ 28,074,000 |
Nonoperating Income (Expense), Total | 497,000 | 108,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Revenues, Total | (41,000) | (422,000) |
Nonoperating Income (Expense), Total | $ 487,000 | $ 244,000 |
Note D - Other Comprehensive _4
Note D - Other Comprehensive Loss - Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance | $ 68,248 | |
Balance | 71,876 | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | (387) | $ (491) |
OCI/OCL before reclassifications | ||
Amounts reclassified from OCI | ||
Tax effect of OCI activity | ||
Net current period OCI/OCL | ||
Balance | (387) | (491) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | (191) | (414) |
OCI/OCL before reclassifications | 945 | (1,953) |
Amounts reclassified from OCI | (446) | 178 |
Tax effect of OCI activity | (116) | 641 |
Net current period OCI/OCL | 383 | (1,134) |
Balance | 192 | (1,548) |
AOCI Attributable to Parent [Member] | ||
Balance | (578) | (905) |
OCI/OCL before reclassifications | 945 | (1,953) |
Amounts reclassified from OCI | (446) | 178 |
Tax effect of OCI activity | (116) | 641 |
Net current period OCI/OCL | 383 | (1,134) |
Balance | $ (195) | $ (2,039) |
Note E - Debt (Details Textual)
Note E - Debt (Details Textual) | 3 Months Ended |
Sep. 30, 2018USD ($) | |
Proceeds from Long-term Lines of Credit | $ 0 |
Line of Credit Facility, Remaining Borrowing Capacity | 10,000,000 |
Long-term Debt, Total | 0 |
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | |
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0 |
Long-term Debt, Percentage Bearing Fluctuating Interest, Threshold Amount | 100,000 |
Minimum Prepayment Amount Under Line of Credit | $ 100,000 |
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Debt Instrument, Basis Spread on Variable Rate | 1.25% |
Debt Instrument Basis Spread on Elected Fixed Rate Borrowing | 1.25% |
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | Maximum [Member] | |
Ratio of Indebtedness to Net Capital | 1.25 |
Ratio of Total Current Assets to Total Current Liabilities | 1.75 |
Note F - Economic Dependency -
Note F - Economic Dependency - Substantial Net Sales to Certain Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Net sales | $ 36,532 | $ 28,074 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | |||
Net sales | 24,807 | 16,318 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Customer 1 [Member] | |||
Net sales | 21,078 | 13,157 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Customer 2 [Member] | |||
Net sales | $ 3,729 | $ 3,161 | [1] |
[1] | Sales were less than 10% of the respective period's consolidated net sales. |
Note F - Economic Dependency _2
Note F - Economic Dependency - Substantial Net Purchase From Certain Supplier (Details) - Supplier Concentration Risk [Member] - Raw Material Purchases [Member] - USD ($) $ in Thousands | 3 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | |||
Raw Material Purchases by Supplier | $ 3,107 | $ 1,967 | ||
% of Total Raw Material Purchases | 15.00% | 14.00% | ||
Supplier 1 [Member] | ||||
Raw Material Purchases by Supplier | $ 3,107 | [1] | ||
% of Total Raw Material Purchases | 15.00% | [1] | ||
Supplier 2 [Member] | ||||
Raw Material Purchases by Supplier | [1] | $ 1,967 | ||
% of Total Raw Material Purchases | [1] | 14.00% | ||
[1] | Purchases were less than 10% of the respective period's total raw material purchases. |
Note G - Segment Information (D
Note G - Segment Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Number of Reportable Segments | 2 | |
Revenues, Total | $ 36,532 | $ 28,074 |
Non-US [Member] | ||
Revenues, Total | 18,886 | 12,880 |
UNITED STATES | ||
Revenues, Total | $ 17,646 | $ 15,194 |
Products Manufactured by NAIE [Member] | Non-US [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member] | ||
Concentration Risk, Percentage | 72.00% | 75.00% |
Products Manufactured by NAIE [Member] | UNITED STATES | ||
Revenues, Total | $ 0 | $ 0 |
Note G - Segment Information -
Note G - Segment Information - Operating Results by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Net sales | $ 36,532 | $ 28,074 |
Income from operations | 2,724 | 1,883 |
Operating Segments [Member] | ||
Income from operations | 4,947 | 3,445 |
Corporate, Non-Segment [Member] | ||
Income from operations | (2,223) | (1,562) |
Private Label Contract Manufacturing [Member] | ||
Net sales | 31,087 | 22,222 |
Private Label Contract Manufacturing [Member] | Operating Segments [Member] | ||
Income from operations | 3,145 | 2,257 |
Patent and Trademark Licensing [Member] | ||
Net sales | 5,445 | 5,852 |
Patent and Trademark Licensing [Member] | Operating Segments [Member] | ||
Income from operations | $ 1,802 | $ 1,188 |
Note G - Segment Information _2
Note G - Segment Information - Assets by Business Segment (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Assets | $ 90,102 | $ 85,207 |
Private Label Contract Manufacturing [Member] | ||
Assets | 72,677 | 69,037 |
Patent and Trademark Licensing [Member] | ||
Assets | $ 17,425 | $ 16,170 |
Note G - Segment Information _3
Note G - Segment Information - Net Sales by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Net sales | $ 36,532 | $ 28,074 |
UNITED STATES | ||
Net sales | 17,646 | 15,194 |
Non-US [Member] | ||
Net sales | $ 18,886 | $ 12,880 |
Note G - Segment Information _4
Note G - Segment Information - Assets and Capital Expenditures by Geographical Region (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | |
Long-Lived Assets | $ 19,277 | $ 19,290 | |
Total Assets | 90,102 | 85,207 | |
Capital Expenditures | 796 | $ 956 | |
UNITED STATES | |||
Long-Lived Assets | 10,841 | 10,887 | |
Total Assets | 54,279 | 51,562 | |
Capital Expenditures | 337 | 89 | |
Europe [Member] | |||
Long-Lived Assets | 8,436 | 8,403 | |
Total Assets | 35,823 | $ 33,645 | |
Capital Expenditures | $ 459 | $ 867 |
Note H - Income Taxes (Details
Note H - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 20.60% | 28.00% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 0 | |
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | ||
Open Tax Year | 2,015 | |
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | ||
Open Tax Year | 2,007 | |
Earliest Tax Year [Member] | Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | ||
Open Tax Year | 2,015 |
Note I - Treasury Stock (Detail
Note I - Treasury Stock (Details Textual) - USD ($) | 3 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Mar. 28, 2017 | May 11, 2015 | Feb. 06, 2015 | Jun. 02, 2011 | |
Stock Repurchase Program, Authorized Amount | $ 7,000,000 | $ 5,000,000 | $ 3,000,000 | $ 2,000,000 | ||
Treasury Stock, Shares, Acquired | 674 | 734 | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 9.65 | $ 10.70 | ||||
Payments Related to Tax Withholding for Share-based Compensation | $ 6,000 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 8,000 | |||||
Excluding Restricted Stock Purchased [Member] | ||||||
Treasury Stock, Shares, Acquired | 0 | 0 | ||||
2015 Increase [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 2,000,000 | $ 1,000,000 | ||||
2017 Increase [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 2,000,000 |
Note J - Derivatives and Hedg_2
Note J - Derivatives and Hedging (Details Textual) € in Millions | 3 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018EUR (€) | Jun. 30, 2018USD ($) | |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net, Total | $ 0 | |||
Unrealized Loss on Foreign Currency Derivatives, before Tax | 171,000 | |||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 955,000,000,000 | |||
Prepaid Expenses and Other Current Assets [Member] | ||||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 680,000 | $ 55,000 | ||
Other Noncurrent Assets [Member] | ||||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 275,000 | 46,000 | ||
Accrued Liabilities [Member] | ||||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | $ 101,000 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | 119,000 | |||
Cash Flow Hedging [Member] | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 458,000 | $ (2,200,000) | ||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | 41,000 | $ 422,000 | ||
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||||
Derivative, Notional Amount | $ 83,300,000 | € 68.9 |
Note L - Subsequent Events (Det
Note L - Subsequent Events (Details Textual) - Natural Alternatives International Europe SA [Member] - SWITZERLAND - Subsequent Event [Member] - m² | Oct. 19, 2018 | Nov. 05, 2018 |
Primary Manufacturing Facility [Member] | ||
Lessee, Operating Lease, Term of Contract | 5 years | |
Lessee, Operating Lease, Renewal Term | 1 year | |
Lessee, Operating Lease, Notice to Not Extend Lease Term | 1 year | |
Commercial Warehouse [Member] | ||
Lessee, Operating Lease, Term of Contract | 5 years | |
Area of Real Estate Property | 2,870 |