Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2021 | May 09, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | NATURAL ALTERNATIVES INTERNATIONAL INC | |
Entity Central Index Key | 0000787253 | |
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 Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 6,418,978 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, $0.01 par value per share |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 28,089 | $ 30,478 |
Accounts receivable - less allowance for doubtful accounts of $3,152 at March 31, 2021 and $3,240 at June 30, 2020 | 16,882 | 17,001 |
Inventories, net | 29,088 | 27,972 |
Income tax receivable | 1,186 | 848 |
Forward contracts | 450 | |
Prepaids and other current assets | 1,980 | 2,275 |
Total current assets | 77,225 | 79,024 |
Property and equipment, net | 22,456 | 21,523 |
Operating lease right-of-use assets | 16,551 | 18,354 |
Deferred tax asset – noncurrent | 680 | 196 |
Other noncurrent assets, net | 1,549 | 1,106 |
Total assets | 118,461 | 120,203 |
Current liabilities: | ||
Accounts payable | 15,299 | 12,509 |
Accrued liabilities | 2,918 | 1,627 |
Accrued compensation and employee benefits | 3,371 | 2,660 |
Forward contracts | 954 | |
Income taxes payable | 862 | 1,010 |
Lines of credit | 10,000 | |
Total current liabilities | 23,404 | 27,806 |
Long-term liability – operating leases | 17,026 | 18,782 |
Noncurrent forward contracts | 195 | |
Long-term pension liability | 757 | 696 |
Income taxes payable, noncurrent | 1,250 | 1,349 |
Total liabilities | 42,437 | 48,828 |
Commitments and contingencies (Note L) | ||
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) 6,419,389 at March 31, 2021 and 6,752,372 at June 30, 2020 | 89 | 87 |
Additional paid-in capital | 29,022 | 27,992 |
Retained earnings | 63,987 | 56,181 |
Treasury stock, at cost, 2,567,386 shares at March 31, 2021 and 2,104,305 June 30, 2020 | (15,842) | (11,702) |
Accumulated other comprehensive loss | (1,232) | (1,183) |
Total stockholders’ equity | 76,024 | 71,375 |
Total liabilities and stockholders’ equity | $ 118,461 | $ 120,203 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 3,152 | $ 3,240 |
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 outstanding (in shares) | 6,419,389 | 6,752,372 |
Treasury stock, shares (in shares) | 2,567,386 | 2,104,305 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net sales | $ 46,320 | $ 25,482 | $ 134,129 | $ 83,780 |
Cost of goods sold | 39,484 | 22,588 | 111,614 | 71,441 |
Gross profit | 6,836 | 2,894 | 22,515 | 12,339 |
Other selling, general and administrative | 4,169 | 3,835 | 12,449 | 12,637 |
(Recoveries) provision for uncollectible accounts receivable | (33) | 3,282 | (111) | 3,282 |
Total selling, general and administrative | 4,136 | 7,117 | 12,338 | 15,919 |
Income (loss) from operations | 2,700 | (4,223) | 10,177 | (3,580) |
Other (expense) income: | ||||
Interest income | 47 | 1 | 176 | |
Interest expense | (15) | (5) | (110) | (16) |
Foreign exchange loss | (304) | (91) | (1,322) | (144) |
Other, net | (7) | 1 | (22) | (11) |
Total other (expense) income | (326) | (48) | (1,453) | 5 |
Income (loss) before income taxes | 2,374 | (4,271) | 8,724 | (3,575) |
Provision (benefit) for income taxes | 458 | (256) | 918 | (132) |
Net income (loss) | 1,916 | (4,015) | 7,806 | (3,443) |
Unrealized gain (loss) resulting from change in fair value of derivative instruments, net of tax | 1,925 | 335 | (49) | (181) |
Comprehensive income (loss) | $ 3,841 | $ (3,680) | $ 7,757 | $ (3,624) |
Net income (loss) per common share: | ||||
Basic (in dollars per share) | $ 0.31 | $ (0.61) | $ 1.24 | $ (0.51) |
Diluted (in dollars per share) | $ 0.30 | $ (0.61) | $ 1.22 | $ (0.51) |
Weighted average common shares outstanding | ||||
Basic (in shares) | 6,200,712 | 6,564,765 | 6,296,408 | 6,733,781 |
Diluted (in shares) | 6,326,777 | 6,564,765 | 6,401,021 | 6,733,781 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Jun. 30, 2019 | 8,851,677 | 1,626,605 | ||||||||||
Balance (Accounting Standards Update 2016-02 [Member]) at Jun. 30, 2019 | $ 420 | $ 420 | ||||||||||
Balance at Jun. 30, 2019 | $ 87 | $ 26,280 | $ 57,380 | $ (7,955) | $ 292 | $ 76,084 | ||||||
Issuance of common stock for restricted stock grants (in shares) | 5,000 | |||||||||||
Issuance of common stock for restricted stock grants | ||||||||||||
Compensation expense related to stock compensation plans | 1,351 | 1,351 | ||||||||||
Repurchase of common stock (in shares) | 423,676 | |||||||||||
Repurchase of common stock | $ (3,482) | $ (3,482) | ||||||||||
Issuance of common stock for stock option exercise (in shares) | 0 | |||||||||||
Unrealized loss resulting from change in fair value of derivative instruments, net of tax | (181) | $ (181) | ||||||||||
Net income (loss) | (3,443) | (3,443) | ||||||||||
Balance (in shares) at Mar. 31, 2020 | 8,856,677 | 2,065,281 | ||||||||||
Balance at Mar. 31, 2020 | $ 87 | 27,631 | 54,485 | $ (11,437) | (17) | 70,749 | ||||||
Forfeiture of restricted stock (in shares) | 15,000 | |||||||||||
Forfeiture of restricted stock | ||||||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | 128 | (128) | ||||||||||
Balance (in shares) at Dec. 31, 2019 | 8,856,677 | 1,801,273 | ||||||||||
Balance at Dec. 31, 2019 | $ 87 | 27,172 | 58,500 | $ (9,287) | (352) | 76,120 | ||||||
Compensation expense related to stock compensation plans | 459 | 459 | ||||||||||
Repurchase of common stock (in shares) | 264,008 | |||||||||||
Repurchase of common stock | $ (2,150) | $ (2,150) | ||||||||||
Issuance of common stock for stock option exercise (in shares) | 0 | |||||||||||
Unrealized loss resulting from change in fair value of derivative instruments, net of tax | 335 | $ 335 | ||||||||||
Net income (loss) | (4,015) | (4,015) | ||||||||||
Balance (in shares) at Mar. 31, 2020 | 8,856,677 | 2,065,281 | ||||||||||
Balance at Mar. 31, 2020 | $ 87 | 27,631 | 54,485 | $ (11,437) | (17) | 70,749 | ||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | ||||||||||||
Balance (in shares) at Jun. 30, 2020 | 8,856,677 | 2,104,305 | ||||||||||
Balance at Jun. 30, 2020 | $ 87 | 27,992 | 56,181 | $ (11,702) | (1,183) | 71,375 | ||||||
Issuance of common stock for restricted stock grants (in shares) | 91,773 | |||||||||||
Issuance of common stock for restricted stock grants | $ 1 | (1) | ||||||||||
Compensation expense related to stock compensation plans | 1,032 | 1,032 | ||||||||||
Repurchase of common stock (in shares) | 463,081 | |||||||||||
Repurchase of common stock | $ (4,140) | $ (4,140) | ||||||||||
Issuance of common stock for stock option exercise (in shares) | 38,325 | 110,000 | ||||||||||
Issuance of common stock for stock option exercise | $ 1 | (1) | ||||||||||
Unrealized loss resulting from change in fair value of derivative instruments, net of tax | (49) | (49) | ||||||||||
Net income (loss) | 7,806 | 7,806 | ||||||||||
Balance (in shares) at Mar. 31, 2021 | 8,986,775 | 2,567,386 | ||||||||||
Balance at Mar. 31, 2021 | $ 89 | 29,022 | 63,987 | $ (15,842) | (1,232) | 76,024 | ||||||
Balance (in shares) at Dec. 31, 2020 | 8,887,119 | 2,523,254 | ||||||||||
Balance at Dec. 31, 2020 | $ 88 | 28,689 | 62,071 | $ (15,203) | (3,157) | 72,488 | ||||||
Issuance of common stock for restricted stock grants (in shares) | 91,773 | |||||||||||
Issuance of common stock for restricted stock grants | $ 1 | (1) | ||||||||||
Compensation expense related to stock compensation plans | 334 | 334 | ||||||||||
Repurchase of common stock (in shares) | 44,132 | |||||||||||
Repurchase of common stock | $ (639) | $ (639) | ||||||||||
Issuance of common stock for stock option exercise (in shares) | 7,883 | 10,000 | ||||||||||
Issuance of common stock for stock option exercise | ||||||||||||
Unrealized loss resulting from change in fair value of derivative instruments, net of tax | 1,925 | 1,925 | ||||||||||
Net income (loss) | 1,916 | 1,916 | ||||||||||
Balance (in shares) at Mar. 31, 2021 | 8,986,775 | 2,567,386 | ||||||||||
Balance at Mar. 31, 2021 | $ 89 | $ 29,022 | $ 63,987 | $ (15,842) | $ (1,232) | $ 76,024 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities | ||
Net income (loss) | $ 7,806 | $ (3,443) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
(Recovery of) provision for uncollectible accounts receivable | (111) | 3,282 |
Depreciation and amortization | 3,309 | 2,975 |
Non-cash compensation | 1,032 | 1,351 |
Non-cash lease expenses | 47 | 226 |
Deferred income taxes | (469) | |
Loss on disposal of assets | 6 | 118 |
Pension expense, net of contributions | 61 | 21 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 230 | 303 |
Inventories, net | (1,116) | (108) |
Prepaids and other assets | (64) | (748) |
Accounts payable and accrued liabilities | 4,081 | 1,656 |
Forward contracts | 1,061 | 354 |
Accrued compensation and employee benefits | 711 | (307) |
Income taxes | (585) | (516) |
Net cash provided by operating activities | 15,999 | 5,164 |
Cash flows from investing activities | ||
Purchases of property and equipment | (4,251) | (3,432) |
Proceeds from sale of property and equipment | 3 | 25 |
Net cash used in investing activities | (4,248) | (3,407) |
Cash flows from financing activities | ||
Repurchase of common stock | (4,140) | (3,482) |
(Payments) borrowings on lines of credit | (10,000) | 10,000 |
Net cash (used in) provided by financing activities | (14,140) | 6,518 |
Net (decrease) increase in cash and cash equivalents | (2,389) | 8,275 |
Cash and cash equivalents at beginning of period | 30,478 | 25,040 |
Cash and cash equivalents at end of period | 28,089 | 33,315 |
Supplemental disclosures of cash flow information | ||
Interest | 123 | 16 |
Taxes | $ 1,549 | $ 370 |
Note A - Basis of Presentation
Note A - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2021 | |
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 nine March 31, 2021 not You should read the financial statements and these notes, which notes are an integral part of the financial statements, together with our audited financial statements included in our Annual Report on Form 10 June 30, 2020 ( “2020 2020 Recently Adopted Accounting Pronouncements We did not three nine March 31, 2021. Recently Issued Accounting and Regulatory Pronouncements In November 2020, No. 33 10825, 101, 103, 105, Other recently issued accounting pronouncements are not not not Net Income (Loss) 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 (loss) per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options and unvested restricted shares account 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 (loss) per common share as follows (in thousands, except per share data): Three Months Ended Nine Months Ended March 31, March 31, 2021 2020 2021 2020 Numerator Net income (loss) $ 1,916 $ (4,015 ) $ 7,806 $ (3,443 ) Denominator Basic weighted average common shares outstanding 6,201 6,565 6,296 6,734 Dilutive effect of stock options and restricted stock 126 — 105 — Diluted weighted average common shares outstanding 6,327 6,565 6,401 6,734 Basic net income (loss) per common share $ 0.31 $ (0.61 ) $ 1.24 $ (0.51 ) Diluted net income (loss) per common share $ 0.30 $ (0.61 ) $ 1.22 $ (0.51 ) We excluded 91,773 no three March 31, 2021. nine March 31, 2021 30,000 69,477 In periods where we have a net loss, stock options and restricted stock are excluded from our calculation of diluted net income (loss) per common share, as their inclusion would have an antidilutive effect. We excluded shares related to stock options totaling 130,000 three nine March 31, 2020. 356,998 three March 31, 2020. 388,988 nine March 31, 2020. Revenue Recognition We record revenue based on a 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 each of our performance obligations is fulfilled, and control of ordered products is transferred to the customer. This transfer 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 continue to take advantage of these early payment discounts. The cost of these discounts is reported as a reduction to the transaction price of customer contracts. If the actual discounts differ from those estimated, the difference is also reported as a change in the transaction price. Except for product defects, no March 31, 2021, no We have an Exclusive Manufacturing Agreement with Juice Plus+, as amended and restated on March 31, 2019, ( 24 August 6, 2025. $0.4 three March 31, 2021 $1.2 nine March 31, 2021. $0.4 three March 31, 2020 $1.2 nine March 31, 2020. We currently own certain U.S. patents, and each such patent's corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as “beta-alanine”, which we market and sell 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 $4.1 three March 31, 2021 $9.6 nine March 31, 2021. $2.8 three March 31, 2020 $10.3 nine March 31, 2020. $0.2 three March 31, 2021 $0.4 nine March 31, 2021. $0.1 three March 31, 2020 $0.5 nine March 31, 2020. Stock-Based Compensation We had an omnibus equity incentive plan that was approved by our Board of Directors effective October 15, 2009 November 30, 2009 "2009 2009 October 15, 2019. January 1, 2021 ( “2020 December 4, 2020. 2020 may We did not three nine March 31, 2021 March 31, 2020. three March 31, 2021, 10,000 nine March 31, 2021, 110,000 7,883 three March 31, 2021 38,325 nine March 31, 2021. No three nine March 31, 2020. no three nine March 31, 2021 three nine March 31, 2020. During the three nine March 31, 2021, 91,773 three March 31, 2020 not nine March 31, 2020, 5,000 No three nine March 31, 2021. three March 31, 2020, no nine March 31, 2020, 15,000 $0.3 three March 31, 2021 $1.0 nine March 31, 2021. $0.5 three March 31, 2020, $1.4 nine March 31, 2020. Deferred Compensation Plan Effective July 16, 2020, may The Incentive Plan authorizes the Human Resources Committee or the Board of Directors to grant to, and administer, unsecured and deferred cash Awards to Participants and to subject each Award to whatever conditions are determined appropriate by the Human Resources Committee or the Board of Directors. The terms of each Award, including the amount and any conditions that must be met to be entitled to payment of the Award are set forth in an Award Agreement between each Participant and NAI. The Incentive Plan provides the Board of Directors with the discretion to set aside assets to fund the Incentive Plan although that has not During the three March 31, 2021, $0.5 nine March 31, 2021, $1.5 Each deferred cash award provides for three one two three no Fair Value of Financial Instruments Except for cash and cash equivalents, as of March 31, 2021 June 30, 2020, not 1. We classify derivative forward exchange contracts as Level 2 March 31, 2021 $0.9 June 30, 2020 $0.3 third We also classify any outstanding line of credit balance as a Level 2 March 31, 2021, June 30, 2020, not 3. We did not three nine March 31, 2021 three nine March 31, 2020. COVID- 19 We continue to monitor and evaluate the risks to public health and the impact on overall global business activity related to the COVID- 19 may |
Note B - Inventories, Net
Note B - Inventories, Net | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | B. Inventories, net Inventories, net consisted of the following (in thousands): March 31, 2021 June 30, 2020 Raw materials $ 23,093 $ 20,863 Work in progress 3,998 3,447 Finished goods 3,110 4,936 Reserve (1,113 ) (1,274 ) $ 29,088 $ 27,972 The inventory reserve includes $0.5 March 31, 2021 $1.0 June 30, 2020 one three March 31, 2021, $50,000. nine March 31, 2021, $0.5 |
Note C - Property and Equipment
Note C - Property and Equipment | 9 Months Ended |
Mar. 31, 2021 | |
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 March 31, 2021 June 30, 2020 Land NA $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,748 3,743 Machinery and equipment 3 – 12 36,830 33,405 Office equipment and furniture 3 – 5 5,564 5,318 Vehicles 3 255 255 Leasehold improvements 1 – 15 18,207 18,031 Total property and equipment 65,804 61,952 Less: accumulated depreciation and amortization (43,348 ) (40,429 ) Property and equipment, net $ 22,456 $ 21,523 |
Note D - Other Comprehensive Lo
Note D - Other Comprehensive Loss | 9 Months Ended |
Mar. 31, 2021 | |
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 nine March 31, 2021 March 31, 2020 ( Three Months Ended Nine Months Ended March 31, 2021 March 31, 2021 Unrealized Unrealized Defined Gains Defined Gains Benefit (Losses) on Benefit (Losses) on Pension Cash Flow Pension Cash Flow Plan Hedges Total Plan Hedges Total Beginning Balance $ (888 ) $ (2,269 ) $ (3,157 ) $ (888 ) $ (295 ) $ (1,183 ) OCI/OCL before reclassifications - 1,639 1,639 - (2,274 ) (2,274 ) Amounts reclassified from OCI - 868 868 - 2,209 2,209 Tax effect of OCI activity - (582 ) (582 ) - 16 16 Net current period OCI/OCL - 1,925 1,925 - (49 ) (49 ) Ending Balance $ (888 ) $ (344 ) $ (1,232 ) $ (888 ) $ (344 ) $ (1,232 ) Three Months Ended Nine Months Ended March 31, 2020 March 31, 2020 Unrealized Unrealized Defined Gains Defined Gains Benefit (Losses) on Benefit (Losses) on Pension Cash Flow Pension Cash Flow Plan Hedges Total Plan Hedges Total Beginning Balance $ (565 ) $ 213 $ (352 ) $ (491 ) $ 783 $ 292 ASU 2018-02 Adjustment - - - (74 ) (54 ) (128 ) OCI/OCL before reclassifications - 990 990 - 1,922 1,922 Amounts reclassified from OCI - (554 ) (554 ) - (2,166 ) (2,166 ) Tax effect of OCI activity - (101 ) (101 ) - 63 63 Net current period OCI/OCL - 335 335 (74 ) (235 ) (309 ) Ending Balance $ (565 ) $ 548 $ (17 ) $ (565 ) $ 548 $ (17 ) ASU 2018 02, Income Statement-Reporting Comprehensive Income (Topic 220 2017 $0.1 nine March 31, 2020. |
Note E - Leases
Note E - Leases | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | E. Leases On July 1, 2019, 842, Leases 842, 842, July 1, 2019, 842, 842 840. no We adopted ASC 842 July 1, 2019. 842 840 842, $20.7 $20.9 840, July 1, 2019, 842, not 1 2 3 not Other information related to leases was as follows (in thousands): Three Months Ended Nine Months Ended Supplemental Cash Flows Information March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 821 $ 786 $ 2,467 $ 2,352 Operating lease liabilities arising from obtaining Right of Use Assets for new leases 187 — 187 — Operating lease liabilities arising from recording Right of Use Assets upon adoption of ASC 842 — 20,897 — 20,897 We lease substantially all of our product manufacturing and manufacturing support office space used to conduct our business. For contracts entered into on or after July 1, 2019, 1 2 3 Leases are classified as either finance leases or operating leases. A lease must be classified as a finance lease if any of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not no March 31, 2021, 6.5 3.24%. June 30, 2020, 7.2 3.24%. For all leases at the lease commencement date, a Right of Use Asset and a lease liability are recognized. The Right of Use Asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The Right of Use Asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All Right of Use Assets are reviewed for impairment. The lease liability is initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, our secured incremental borrowing rate for the same term as the underlying lease. For our real estate and other operating leases, we use our secured incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not Some of our manufacturing leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement and separated into lease and non-lease components based on the initial amount stated in the lease or standalone selling prices. Lease components are included in the measurement of the initial lease liability. Additional payments based on the change in an index or rate, or payments based on a change in our portion of the operating expenses, including real estate taxes and insurance, are recorded as a period expense when incurred. Lease modifications result in remeasurement of the lease liability. Lease expense for operating leases consists of the lease payments plus any initial direct costs, primarily brokerage commissions, and is recognized on a straight-line basis over the lease term. Included in lease expense are any variable lease payments incurred in the period that were not We have elected not 12 not |
Note F - Debt
Note F - Debt | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | F. Debt On July 1, 2019, February 1, 2021, November 1, 2022. $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, nine March 31, 2021, 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 credit approval with Wells Fargo Bank, N.A. which allows us to hedge foreign currency exposures up to 30 24 In light of the global economic uncertainty related to COVID- 19 $10.0 June 30, 2020. not 19 $10.0 February 2, 2021 $10.0 zero $10.0 As of March 31, 2021, not $10.0 |
Note G - Economic Dependency
Note G - Economic Dependency | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | G. 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 (i) sales to these customers, (ii) the growth rate of sales to these customers, or (iii) these customers' ability to make payments when due, each individually could have a material adverse impact on our net sales and net income. Net sales to any one 10% Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Customer 1 $ 23,215 $ 9,271 $ 72,001 $ 36,047 Customer 2 5,811 (a) (a) (a) Customer 3 (a) 7,599 16,288 17,108 $ 29,026 $ 16,870 $ 88,289 $ 53,155 (a) Sales were less than 10% 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 March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Supplier 1 $ 5,978 1,930 $ 15,765 (a) $ 5,978 1,930 $ 15,765 — (a) Purchases were less than 10% 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 two 52.1% March 31, 2021 65.7% June 30, 2020. March 31, 2021 $3.2 June 30, 2020 $3.3 100% not 7.4% March 31, 2021, 2.5% June 30, 2020. |
Note H - Segment Information
Note H - Segment Information | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | H. Segment Information Our business consists of two two We evaluate performance of these segments based on a number of factors. The primary performance measures for each segment are net sales and income or loss from operations before the allocation of certain corporate level expenses. Operating income or loss for each segment does not not not 2020 Our operating results by business segment were as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Net Sales Private label contract manufacturing $ 42,196 $ 22,650 $ 124,569 $ 73,490 Patent and trademark licensing 4,124 2,832 9,560 10,290 Total Net Sales $ 46,320 $ 25,482 $ 134,129 $ 83,780 Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Income (Loss) from Operations Private label contract manufacturing $ 3,241 $ (3,123 ) $ 13,511 $ 187 Patent and trademark licensing 1,541 813 2,740 1,870 Income (loss) from operations of reportable segments 4,782 (2,310 ) 16,251 2,057 Corporate expenses not allocated to segments (2,082 ) (1,913 ) (6,074 ) (5,637 ) Total Income (Loss) from Operations $ 2,700 $ (4,223 ) $ 10,177 $ (3,580 ) March 31, 2021 June 30, 2020 Total Assets Private-label contract manufacturing $ 95,502 $ 100,094 Patent and trademark licensing 22,959 20,109 $ 118,461 $ 120,203 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 March 31, Nine Months Ended March 31, 2021 2020 2021 2020 United States $ 27,674 $ 12,908 $ 70,534 $ 48,682 Markets outside of the United States 18,646 12,574 63,595 35,098 Total $ 46,320 $ 25,482 $ 134,129 $ 83,780 Products manufactured by our Swiss subsidiary ("NAIE") accounted for 65% three March 31, 2021 79% nine March 31, 2021. 88% three March 31, 2020 90% nine March 31, 2020. No three nine March 31, 2021 2020. Long-lived assets by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands): March 31, 2021 June 30, 2020 United States $ 21,325 $ 21,769 Europe 17,682 18,108 Total Long-Lived Assets $ 39,007 $ 39,877 Total assets by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands): March 31, 2021 June 30, 2020 United States $ 67,624 $ 66,489 Europe 50,837 53,714 Total Assets $ 118,461 $ 120,203 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): Nine Months Ended March 31, 2021 March 31, 2020 United States $ 1,788 $ 1,110 Europe 2,463 2,322 Total Capital Expenditures $ 4,251 $ 3,432 |
Note I - Income Taxes
Note I - Income Taxes | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | I. Income Taxes Our effective tax rate for the three March 31, 2021 19.3% nine March 31, 2021 10.5%. nine March 31, 2021, 2021 21% three March 31, 2020 6.0% nine March 31, 2020 3.7%. 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. We recognize interest and penalties related to uncertain tax positions, if any, as an income tax expense. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 five June 30, 2020 On July 23, 2020, September 21, 2020 may 18.9%. 18.9% June 30, 2020. 2020 nine March 31, 2021 2020 $0.4 2020 2015, $0.3 nine March 31, 2021. nine March 31, 2021 $0.4 $0.5 There were no three nine March 31, 2021, three nine March 31, 2020. We record valuation allowances to reduce our deferred tax assets to an amount we believe is more likely than not not three nine March 31, 2021, 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. Deferred tax assets and liabilities are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled using the tax rates then in effect. 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 Switzerland and in the U.S. at the federal level and in various state jurisdictions. Our tax years for the fiscal year ended June 30, 2017 June 30, 2017 June 30, 2019 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 nine March 31, 2021. |
Note J - Treasury Stock
Note J - Treasury Stock | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | J. Treasury Stock On September 18, 2020, $2.0 $12.0 March 12, 2021, $3.0 $15.0 may, During the three March 31, 2021 5,751 $10.60 $0.1 nine March 31, 2021 416,264 $8.40 $3.5 nine March 31, 2021, 30,442 three March 31, 2020 210,832 $8.46 $1.8 nine March 31, 2020 362,170 $8.40 $3.0 During the three March 31, 2021, 38,381 $15.05 $0.6 nine March 31, 2021, 46,817 $13.66 $0.6 three March 31, 2020 53,176 $6.91 $0.4 nine March 31, 2020, 61,506 $7.14 $0.4 |
Note K - Derivatives and Hedgin
Note K - Derivatives and Hedging | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | K. Derivatives and Hedging We are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to forecasted product sales and expenditures 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 March 31, 2021, August 2022. 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 part of net sales. We measure effectiveness by comparing the cumulative change in the hedge contract with the cumulative change in the hedged item. No three nine March 31, 2021 March 31, 2020. We monitor the probability of forecasted transactions as part of the hedge effectiveness testing on a quarterly basis. During the three nine March 31, 2021 three nine March 31, 2020, not As of March 31, 2021, $52.5 45.2 March 31, 2021, $0.5 $0.5 12 As of March 31, 2021, $0.8 $84,000 three March 31, 2021, $1.6 $0.9 nine March 31, 2021, $2.3 $2.2 June 30, 2020, $0.5 $0.2 three March 31, 2020, $1.0 $0.5 nine March 31, 2020, $1.9 $2.1 $54,000 For foreign currency contracts not nine March 31, 2021 March 31, 2021, not $6.0 5.5 March 31, 2021, $0.1 not |
Note L - Contingencies
Note L - Contingencies | 9 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | L. 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 may not not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements We did not three nine March 31, 2021. Recently Issued Accounting and Regulatory Pronouncements In November 2020, No. 33 10825, 101, 103, 105, Other recently issued accounting pronouncements are not not not |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) 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 (loss) per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options and unvested restricted shares account 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 (loss) per common share as follows (in thousands, except per share data): Three Months Ended Nine Months Ended March 31, March 31, 2021 2020 2021 2020 Numerator Net income (loss) $ 1,916 $ (4,015 ) $ 7,806 $ (3,443 ) Denominator Basic weighted average common shares outstanding 6,201 6,565 6,296 6,734 Dilutive effect of stock options and restricted stock 126 — 105 — Diluted weighted average common shares outstanding 6,327 6,565 6,401 6,734 Basic net income (loss) per common share $ 0.31 $ (0.61 ) $ 1.24 $ (0.51 ) Diluted net income (loss) per common share $ 0.30 $ (0.61 ) $ 1.22 $ (0.51 ) We excluded 91,773 no three March 31, 2021. nine March 31, 2021 30,000 69,477 In periods where we have a net loss, stock options and restricted stock are excluded from our calculation of diluted net income (loss) per common share, as their inclusion would have an antidilutive effect. We excluded shares related to stock options totaling 130,000 three nine March 31, 2020. 356,998 three March 31, 2020. 388,988 nine March 31, 2020. |
Revenue [Policy Text Block] | Revenue Recognition We record revenue based on a 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 each of our performance obligations is fulfilled, and control of ordered products is transferred to the customer. This transfer 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 continue to take advantage of these early payment discounts. The cost of these discounts is reported as a reduction to the transaction price of customer contracts. If the actual discounts differ from those estimated, the difference is also reported as a change in the transaction price. Except for product defects, no March 31, 2021, no We have an Exclusive Manufacturing Agreement with Juice Plus+, as amended and restated on March 31, 2019, ( 24 August 6, 2025. $0.4 three March 31, 2021 $1.2 nine March 31, 2021. $0.4 three March 31, 2020 $1.2 nine March 31, 2020. We currently own certain U.S. patents, and each such patent's corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as “beta-alanine”, which we market and sell 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 $4.1 three March 31, 2021 $9.6 nine March 31, 2021. $2.8 three March 31, 2020 $10.3 nine March 31, 2020. $0.2 three March 31, 2021 $0.4 nine March 31, 2021. $0.1 three March 31, 2020 $0.5 nine March 31, 2020. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We had an omnibus equity incentive plan that was approved by our Board of Directors effective October 15, 2009 November 30, 2009 "2009 2009 October 15, 2019. January 1, 2021 ( “2020 December 4, 2020. 2020 may We did not three nine March 31, 2021 March 31, 2020. three March 31, 2021, 10,000 nine March 31, 2021, 110,000 7,883 three March 31, 2021 38,325 nine March 31, 2021. No three nine March 31, 2020. no three nine March 31, 2021 three nine March 31, 2020. During the three nine March 31, 2021, 91,773 three March 31, 2020 not nine March 31, 2020, 5,000 No three nine March 31, 2021. three March 31, 2020, no nine March 31, 2020, 15,000 $0.3 three March 31, 2021 $1.0 nine March 31, 2021. $0.5 three March 31, 2020, $1.4 nine March 31, 2020. |
Compensation Related Costs, Policy [Policy Text Block] | Deferred Compensation Plan Effective July 16, 2020, may The Incentive Plan authorizes the Human Resources Committee or the Board of Directors to grant to, and administer, unsecured and deferred cash Awards to Participants and to subject each Award to whatever conditions are determined appropriate by the Human Resources Committee or the Board of Directors. The terms of each Award, including the amount and any conditions that must be met to be entitled to payment of the Award are set forth in an Award Agreement between each Participant and NAI. The Incentive Plan provides the Board of Directors with the discretion to set aside assets to fund the Incentive Plan although that has not During the three March 31, 2021, $0.5 nine March 31, 2021, $1.5 Each deferred cash award provides for three one two three no |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments Except for cash and cash equivalents, as of March 31, 2021 June 30, 2020, not 1. We classify derivative forward exchange contracts as Level 2 March 31, 2021 $0.9 June 30, 2020 $0.3 third We also classify any outstanding line of credit balance as a Level 2 March 31, 2021, June 30, 2020, not 3. We did not three nine March 31, 2021 three nine March 31, 2020. |
COVID-19 Pandemic [Policy Text Block] | COVID- 19 We continue to monitor and evaluate the risks to public health and the impact on overall global business activity related to the COVID- 19 may |
Note A - Basis of Presentatio_2
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2021 2020 2021 2020 Numerator Net income (loss) $ 1,916 $ (4,015 ) $ 7,806 $ (3,443 ) Denominator Basic weighted average common shares outstanding 6,201 6,565 6,296 6,734 Dilutive effect of stock options and restricted stock 126 — 105 — Diluted weighted average common shares outstanding 6,327 6,565 6,401 6,734 Basic net income (loss) per common share $ 0.31 $ (0.61 ) $ 1.24 $ (0.51 ) Diluted net income (loss) per common share $ 0.30 $ (0.61 ) $ 1.22 $ (0.51 ) |
Note B - Inventories, Net (Tabl
Note B - Inventories, Net (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2021 June 30, 2020 Raw materials $ 23,093 $ 20,863 Work in progress 3,998 3,447 Finished goods 3,110 4,936 Reserve (1,113 ) (1,274 ) $ 29,088 $ 27,972 |
Note C - Property and Equipme_2
Note C - Property and Equipment (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Depreciable Life In Years March 31, 2021 June 30, 2020 Land NA $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,748 3,743 Machinery and equipment 3 – 12 36,830 33,405 Office equipment and furniture 3 – 5 5,564 5,318 Vehicles 3 255 255 Leasehold improvements 1 – 15 18,207 18,031 Total property and equipment 65,804 61,952 Less: accumulated depreciation and amortization (43,348 ) (40,429 ) Property and equipment, net $ 22,456 $ 21,523 |
Note D - Other Comprehensive _2
Note D - Other Comprehensive Loss (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2021 March 31, 2021 Unrealized Unrealized Defined Gains Defined Gains Benefit (Losses) on Benefit (Losses) on Pension Cash Flow Pension Cash Flow Plan Hedges Total Plan Hedges Total Beginning Balance $ (888 ) $ (2,269 ) $ (3,157 ) $ (888 ) $ (295 ) $ (1,183 ) OCI/OCL before reclassifications - 1,639 1,639 - (2,274 ) (2,274 ) Amounts reclassified from OCI - 868 868 - 2,209 2,209 Tax effect of OCI activity - (582 ) (582 ) - 16 16 Net current period OCI/OCL - 1,925 1,925 - (49 ) (49 ) Ending Balance $ (888 ) $ (344 ) $ (1,232 ) $ (888 ) $ (344 ) $ (1,232 ) Three Months Ended Nine Months Ended March 31, 2020 March 31, 2020 Unrealized Unrealized Defined Gains Defined Gains Benefit (Losses) on Benefit (Losses) on Pension Cash Flow Pension Cash Flow Plan Hedges Total Plan Hedges Total Beginning Balance $ (565 ) $ 213 $ (352 ) $ (491 ) $ 783 $ 292 ASU 2018-02 Adjustment - - - (74 ) (54 ) (128 ) OCI/OCL before reclassifications - 990 990 - 1,922 1,922 Amounts reclassified from OCI - (554 ) (554 ) - (2,166 ) (2,166 ) Tax effect of OCI activity - (101 ) (101 ) - 63 63 Net current period OCI/OCL - 335 335 (74 ) (235 ) (309 ) Ending Balance $ (565 ) $ 548 $ (17 ) $ (565 ) $ 548 $ (17 ) |
Note E - Leases (Tables)
Note E - Leases (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Nine Months Ended Supplemental Cash Flows Information March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 821 $ 786 $ 2,467 $ 2,352 Operating lease liabilities arising from obtaining Right of Use Assets for new leases 187 — 187 — Operating lease liabilities arising from recording Right of Use Assets upon adoption of ASC 842 — 20,897 — 20,897 |
Note G - Economic Dependency (T
Note G - Economic Dependency (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Supplier Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Supplier 1 $ 5,978 1,930 $ 15,765 (a) $ 5,978 1,930 $ 15,765 — |
Customer Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Customer 1 $ 23,215 $ 9,271 $ 72,001 $ 36,047 Customer 2 5,811 (a) (a) (a) Customer 3 (a) 7,599 16,288 17,108 $ 29,026 $ 16,870 $ 88,289 $ 53,155 |
Note H - Segment Information (T
Note H - Segment Information (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Net Sales Private label contract manufacturing $ 42,196 $ 22,650 $ 124,569 $ 73,490 Patent and trademark licensing 4,124 2,832 9,560 10,290 Total Net Sales $ 46,320 $ 25,482 $ 134,129 $ 83,780 Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Income (Loss) from Operations Private label contract manufacturing $ 3,241 $ (3,123 ) $ 13,511 $ 187 Patent and trademark licensing 1,541 813 2,740 1,870 Income (loss) from operations of reportable segments 4,782 (2,310 ) 16,251 2,057 Corporate expenses not allocated to segments (2,082 ) (1,913 ) (6,074 ) (5,637 ) Total Income (Loss) from Operations $ 2,700 $ (4,223 ) $ 10,177 $ (3,580 ) |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | March 31, 2021 June 30, 2020 Total Assets Private-label contract manufacturing $ 95,502 $ 100,094 Patent and trademark licensing 22,959 20,109 $ 118,461 $ 120,203 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 United States $ 27,674 $ 12,908 $ 70,534 $ 48,682 Markets outside of the United States 18,646 12,574 63,595 35,098 Total $ 46,320 $ 25,482 $ 134,129 $ 83,780 |
Long-lived Assets by Geographic Areas [Table Text Block] | March 31, 2021 June 30, 2020 United States $ 21,325 $ 21,769 Europe 17,682 18,108 Total Long-Lived Assets $ 39,007 $ 39,877 |
Assets by Geographic Areas [Table Text Block] | March 31, 2021 June 30, 2020 United States $ 67,624 $ 66,489 Europe 50,837 53,714 Total Assets $ 118,461 $ 120,203 |
Capital Expenditures by Geographic Areas [Table Text Block] | Nine Months Ended March 31, 2021 March 31, 2020 United States $ 1,788 $ 1,110 Europe 2,463 2,322 Total Capital Expenditures $ 4,251 $ 3,432 |
Note A - Basis of Presentatio_3
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Mar. 31, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Jun. 30, 2020USD ($) | |
Sales, Royalty and Licensing Revenue | $ 4,100 | $ 2,800 | $ 9,600 | $ 10,300 | |
Royalty Expense | $ 200 | $ 100 | $ 400 | $ 500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | shares | 10,000 | 0 | 110,000 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | shares | 7,883 | 38,325 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | shares | 0 | 0 | 0 | 0 | |
Deferred Compensation Arrangement with Individual, Number of Payments | 3 | 3 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Net Asset (Liability), Total | $ 0 | $ 0 | $ 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 900 | 900 | |||
Foreign Currency Contract, Asset, Fair Value Disclosure | 300 | ||||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Net Asset (Liability), Total | 0 | 0 | $ 0 | ||
Board of Directors and Management Team First Issuance [Member] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 500 | 500 | |||
Board of Directors and Management Team Second Issuance [Member] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | $ 1,500 | $ 1,500 | |||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 91,773 | 0 | 91,773 | 5,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | shares | 0 | 0 | 0 | 15,000 | |
Share-based Payment Arrangement, Expense | $ 300 | $ 500 | $ 1,000 | $ 1,400 | |
Juice Plus + [Member] | |||||
Sales Discounts, Cash | $ 400 | $ 400 | $ 1,200 | $ 1,200 | |
Restricted Stock 1 [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 91,773 | 356,998 | 69,477 | 388,988 | |
Share-based Payment Arrangement, Option [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 0 | 130,000 | 30,000 | 130,000 |
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 | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Numerator | ||||
Net income (loss) | $ 1,916 | $ (4,015) | $ 7,806 | $ (3,443) |
Denominator | ||||
Basic weighted average common shares outstanding (in shares) | 6,200,712 | 6,564,765 | 6,296,408 | 6,733,781 |
Dilutive effect of stock options and restricted stock (in shares) | 126,000 | 105,000 | ||
Diluted weighted average common shares outstanding (in shares) | 6,326,777 | 6,564,765 | 6,401,021 | 6,733,781 |
Basic net income (loss) per common share (in dollars per share) | $ 0.31 | $ (0.61) | $ 1.24 | $ (0.51) |
Diluted net income (loss) per common share (in dollars per share) | $ 0.30 | $ (0.61) | $ 1.22 | $ (0.51) |
Note B - Inventories, Net (Deta
Note B - Inventories, Net (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | |
Inventory Valuation Reserves, Ending Balance | $ 1,113,000 | $ 1,113,000 | $ 1,274,000 |
Kaged Muscle LLC [Member] | |||
Inventory Valuation Reserves, Ending Balance | 500,000 | 500,000 | $ 1,000,000 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease), Total | $ (50,000) | $ (500,000) |
Note B - Inventories, Net - Sum
Note B - Inventories, Net - Summary of Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Raw materials | $ 23,093 | $ 20,863 |
Work in progress | 3,998 | 3,447 |
Finished goods | 3,110 | 4,936 |
Reserve | (1,113) | (1,274) |
Inventories, net | $ 29,088 | $ 27,972 |
Note C - Property and Equipme_3
Note C - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Jun. 30, 2020 | |
Property and equipment, gross | $ 65,804 | $ 61,952 |
Less: accumulated depreciation and amortization | (43,348) | (40,429) |
Property and equipment, net | 22,456 | 21,523 |
Land [Member] | ||
Property and equipment, gross | 1,200 | 1,200 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | $ 3,748 | 3,743 |
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 | $ 36,830 | 33,405 |
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 | $ 5,564 | 5,318 |
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 | $ 255 | 255 |
Depreciable Life In Years (Year) | 3 years | |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 18,207 | $ 18,031 |
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) $ in Millions | 9 Months Ended |
Mar. 31, 2020USD ($) | |
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | |
Accounting Standards Update 2018-02 [Member] | |
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 0.1 |
Note D - Other Comprehensive _4
Note D - Other Comprehensive Loss - Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Balance | $ 72,488 | $ 76,120 | $ 71,375 | $ 76,084 |
Balance | 76,024 | 70,749 | 76,024 | 70,749 |
ASU 2018-02 Adjustment | ||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance | (888) | (565) | (888) | (491) |
OCI/OCL before reclassifications | ||||
Amounts reclassified from OCI | ||||
Tax effect of OCI activity | ||||
Net current period OCI/OCL | (74) | |||
Balance | (888) | (565) | (888) | (565) |
ASU 2018-02 Adjustment | (74) | |||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance | (2,269) | 213 | (295) | 783 |
OCI/OCL before reclassifications | 1,639 | 990 | (2,274) | 1,922 |
Amounts reclassified from OCI | 868 | (554) | 2,209 | (2,166) |
Tax effect of OCI activity | (582) | (101) | 16 | 63 |
Net current period OCI/OCL | 1,925 | 335 | (49) | (235) |
Balance | (344) | 548 | (344) | 548 |
ASU 2018-02 Adjustment | (54) | |||
AOCI Attributable to Parent [Member] | ||||
Balance | (3,157) | (352) | (1,183) | 292 |
OCI/OCL before reclassifications | 1,639 | 990 | (2,274) | 1,922 |
Amounts reclassified from OCI | 868 | (554) | 2,209 | (2,166) |
Tax effect of OCI activity | (582) | (101) | 16 | 63 |
Net current period OCI/OCL | 1,925 | 335 | (49) | (309) |
Balance | $ (1,232) | (17) | $ (1,232) | (17) |
ASU 2018-02 Adjustment | $ (128) |
Note E - Leases (Details Textua
Note E - Leases (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 | Jul. 01, 2019 |
Operating Lease, Right-of-Use Asset | $ 16,551 | $ 18,354 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 182 days | 7 years 73 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.24% | 3.24% | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 20,700 | ||
Operating Lease, Liability, Total | $ 20,900 |
Note E - Leases - Lease Cash Fl
Note E - Leases - Lease Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Cash paid for amounts included in the measurement of operating lease liabilities | $ 821 | $ 786 | $ 2,467 | $ 2,352 |
Operating lease liabilities arising from obtaining Right of Use Assets for new leases | 187 | 187 | ||
Operating lease liabilities arising from recording Right of Use Assets upon adoption of ASC 842 | $ 20,897 | $ 20,897 |
Note F - Debt (Details Textual)
Note F - Debt (Details Textual) - USD ($) | Feb. 02, 2021 | Jul. 01, 2019 | Mar. 31, 2021 |
Proceeds from Long-term Lines of Credit | $ 10,000 | ||
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | ||
Long-term Debt, Percentage Bearing Fluctuating Interest, Threshold Amount | 100,000 | ||
Minimum Prepayment Amount Under Line of Credit | $ 100,000 | ||
Repayments of Lines of Credit | $ 10,000,000 | ||
Long-term Line of Credit, Total | 0 | 0 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 10,000,000 | $ 10,000,000 | |
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 G - Economic Dependency (D
Note G - Economic Dependency (Details Textual) $ in Millions | 9 Months Ended | 12 Months Ended |
Mar. 31, 2021USD ($) | Jun. 30, 2020USD ($) | |
Kaged Muscle LLC [Member] | Notes Receivable [Member] | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 3.2 | $ 3.3 |
Product Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number of Major Customers | 2 | 2 |
Concentration Risk, Percentage | 52.10% | 65.70% |
Product Concentration Risk [Member] | Accounts Receivable [Member] | Beta-alanine Raw Material [Member] | ||
Concentration Risk, Percentage | 7.40% | 2.50% |
Note G - Economic Dependency -
Note G - Economic Dependency - Substantial Net Sales to Certain Customers (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |||||
Net sales | $ 46,320,000 | $ 25,482,000 | $ 134,129,000 | $ 83,780,000 | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||||
Net sales | 29,026,000 | 16,870,000 | 88,289,000 | 53,155,000 | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer 1 [Member] | ||||||||
Net sales | 23,215,000 | 9,271,000 | 72,001,000 | 36,047,000 | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer 2 [Member] | ||||||||
Net sales | 5,811,000 | [1] | [1] | [1] | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer 3 [Member] | ||||||||
Net sales | [1] | $ 7,599 | $ 16,288 | $ 17,108 | ||||
[1] | Sales were less than 10% of the respective period's total net sales |
Note G - Economic Dependency _2
Note G - Economic Dependency - Substantial Net Purchase From Certain Suppliers (Details) - Supplier Concentration Risk [Member] - Raw Material Purchases [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Raw Material Purchases by Supplier | $ 5,978 | $ 1,930 | $ 15,765 | ||
Supplier 1 [Member] | |||||
Raw Material Purchases by Supplier | $ 5,978 | $ 1,930 | $ 15,765 | [1] | |
[1] | Purchases were less than 10% of the respective period's total raw material purchases. |
Note H - Segment Information (D
Note H - Segment Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Number of Reportable Segments | 2 | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 46,320 | $ 25,482 | $ 134,129 | $ 83,780 | |
Non-US [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 18,646 | 12,574 | 63,595 | 35,098 | |
UNITED STATES | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 27,674 | $ 12,908 | $ 70,534 | $ 48,682 | |
Products Manufactured by NAIE [Member] | Non-US [Member] | Product Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Concentration Risk, Percentage | 65.00% | 88.00% | 79.00% | 90.00% | |
Products Manufactured by NAIE [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Note H - Segment Information -
Note H - Segment Information - Operating Results by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net sales | $ 46,320 | $ 25,482 | $ 134,129 | $ 83,780 |
Income from operations | 2,700 | (4,223) | 10,177 | (3,580) |
Operating Segments [Member] | ||||
Income from operations | 4,782 | (2,310) | 16,251 | 2,057 |
Corporate, Non-Segment [Member] | ||||
Income from operations | (2,082) | (1,913) | (6,074) | (5,637) |
Private Label Contract Manufacturing [Member] | ||||
Net sales | 42,196 | 22,650 | 124,569 | 73,490 |
Private Label Contract Manufacturing [Member] | Operating Segments [Member] | ||||
Income from operations | 3,241 | (3,123) | 13,511 | 187 |
Patent and Trademark Licensing [Member] | ||||
Net sales | 4,124 | 2,832 | 9,560 | 10,290 |
Patent and Trademark Licensing [Member] | Operating Segments [Member] | ||||
Income from operations | $ 1,541 | $ 813 | $ 2,740 | $ 1,870 |
Note H - Segment Information _2
Note H - Segment Information - Assets by Business Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Assets | $ 118,461 | $ 120,203 |
Private Label Contract Manufacturing [Member] | ||
Assets | 95,502 | 100,094 |
Patent and Trademark Licensing [Member] | ||
Assets | $ 22,959 | $ 20,109 |
Note H - Segment Information _3
Note H - Segment Information - Net Sales by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net sales | $ 46,320 | $ 25,482 | $ 134,129 | $ 83,780 |
UNITED STATES | ||||
Net sales | 27,674 | 12,908 | 70,534 | 48,682 |
Non-US [Member] | ||||
Net sales | $ 18,646 | $ 12,574 | $ 63,595 | $ 35,098 |
Note H - Segment Information _4
Note H - Segment Information - Long-lived Assets by Geographical Region (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Long-Lived Assets | $ 39,007 | $ 39,877 |
UNITED STATES | ||
Long-Lived Assets | 21,325 | 21,769 |
Europe [Member] | ||
Long-Lived Assets | $ 17,682 | $ 18,108 |
Note H - Segment Information _5
Note H - Segment Information - Total Assets by Geographical Region (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Jun. 30, 2020 |
Total Assets | $ 118,461 | $ 120,203 |
UNITED STATES | ||
Total Assets | 67,624 | 66,489 |
Europe [Member] | ||
Total Assets | $ 50,837 | $ 53,714 |
Note H - Segment Information _6
Note H - Segment Information - Capital Expenditures by Geographical Region (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Capital Expenditures | $ 4,251 | $ 3,432 |
UNITED STATES | ||
Capital Expenditures | 1,788 | 1,110 |
Europe [Member] | ||
Capital Expenditures | $ 2,463 | $ 2,322 |
Note I - Income Taxes (Details
Note I - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2020 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 19.30% | 6.00% | 10.50% | 3.70% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||||
Effective Income Tax Rate Reconciliation, Global Intangible Low-taxed Income, Amount | $ (400) | |||||
Income Tax Benefit Cares Act | $ 300 | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | 400 | |||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 500 | |||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 0 | $ 0 | ||||
Domestic Tax Authority [Member] | ||||||
Open Tax Year | 2017 2018 2019 2020 2021 | |||||
State and Local Jurisdiction [Member] | ||||||
Open Tax Year | 2017 2018 2019 2020 2021 | |||||
Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | ||||||
Open Tax Year | 2019 2020 2021 |
Note J - Treasury Stock (Detail
Note J - Treasury Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 18, 2020 | Mar. 12, 2020 | |
Stock Repurchase Program, Authorized Amount | $ 15,000 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 639 | $ 2,150 | $ 4,140 | $ 3,482 | ||
Stock Repurchase Plan [Member] | ||||||
Stock Repurchase Program, Additional Amount Authorized | $ 2,000 | |||||
Stock Repurchase Program, Authorized Amount | $ 12,000 | |||||
Treasury Stock, Shares, Acquired (in shares) | 5,751 | 210,832 | 416,264 | 362,170 | ||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 10.60 | $ 8.46 | $ 8.40 | $ 8.40 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 100 | $ 1,800 | $ 3,500 | $ 3,000 | ||
Stock Repurchase Plan [Member] | Employees and Directors [Member] | ||||||
Treasury Stock, Shares, Acquired (in shares) | 30,442 | |||||
2015 Increase [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 3,000 | |||||
Stock Repurchase Plan In Connection With Restricted Stock [Member] | ||||||
Treasury Stock, Shares, Acquired (in shares) | 38,381 | 53,176 | 46,817 | 61,506 | ||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 15.05 | $ 6.91 | $ 13.66 | $ 7.14 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 600 | $ 400 | $ 600 | $ 400 |
Note K - Derivatives and Hedg_2
Note K - Derivatives and Hedging (Details Textual) € in Millions, SFr in Millions | 3 Months Ended | 9 Months Ended | |||||
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2021EUR (€) | Mar. 31, 2021CHF (SFr) | Jun. 30, 2020USD ($) | |
Accumulated Other Comprehensive Income (Loss) Cumulative Cash Flow Hedges, Gain (Loss) | $ 500,000 | $ 500,000 | |||||
Derivative Liability, Current | 954,000 | 954,000 | |||||
Prepaid Expenses and Other Current Assets [Member] | |||||||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 800,000 | 800,000 | |||||
Other Noncurrent Assets [Member] | |||||||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 84,000 | 84,000 | |||||
Other Current Assets [Member] | |||||||
Cash Flow Hedge Derivative Instrument Assets at Fair Value | 500,000 | ||||||
Other Noncurrent Liabilities [Member] | |||||||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | $ 200,000 | ||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | 500,000 | 500,000 | |||||
Cash Flow Hedging [Member] | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (1,600,000) | $ 1,000,000 | (2,300,000) | $ 1,900,000 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Interest Income, Effective Portion, Net | (900,000) | $ 500,000 | (2,200,000) | 2,100,000 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | $ 54,000 | ||||||
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | |||||||
Derivative, Notional Amount | 6,000,000 | 6,000,000 | SFr 5.5 | ||||
Derivative Liability, Current | 100,000 | 100,000 | |||||
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | |||||||
Derivative, Notional Amount | $ 52,500,000 | $ 52,500,000 | € 45.2 |