Applied Industrial (AIT) 10-Q 27 Jan 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2016	Jan. 13, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	APPLIED INDUSTRIAL TECHNOLOGIES INC
Entity Central Index Key	109,563
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		38,988,343

Condensed Statements of Consoli

Condensed Statements of Consolidated Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Net Sales	$ 608,123	$ 610,346	$ 1,232,971	$ 1,252,250
Cost of Sales	435,667	437,179	882,185	898,071
Gross Profit	172,456	173,167	350,786	354,179
Selling, Distribution and Administrative, including depreciation	134,800	134,805	269,912	274,791
Operating Income	37,656	38,362	80,874	79,388
Interest Expense, net	2,100	2,158	4,246	4,345
Other (Income) Expense, net	(211)	55	(609)	1,059
Income Before Income Taxes	35,767	36,149	77,237	73,984
Income Tax Expense	11,682	12,202	25,781	25,746
Net Income	$ 24,085	$ 23,947	$ 51,456	$ 48,238
Net Income Per Share - Basic	$ 0.62	$ 0.61	$ 1.32	$ 1.22
Net Income Per Share - Diluted	0.61	0.61	1.31	1.22
Cash dividends per common share	$ 0.28	$ 0.27	$ 0.56	$ 0.54
Weighted average common shares outstanding for basic computation	38,985	39,262	39,015	39,437
Dilutive effect of potential common shares	386	223	337	224
Weighted average common shares outstanding for diluted computation	39,371	39,485	39,352	39,661

Condensed Statements of Consol3

Condensed Statements of Consolidated Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net income per the condensed statements of consolidated income	$ 24,085	$ 23,947	$ 51,456	$ 48,238
Other comprehensive loss, before tax:
Foreign currency translation adjustments	(9,930)	(6,743)	(12,279)	(34,259)
Postemployment benefits:
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	125	127	252	257
Unrealized (loss) gain on investment securities available for sale	40	(13)	66	(63)
Total of other comprehensive loss, before tax	(9,765)	(6,629)	(11,961)	(34,065)
Income tax expense related to items of other comprehensive income	54	44	115	78
Other comprehensive loss, net of tax	(9,819)	(6,673)	(12,076)	(34,143)
Comprehensive income, net of tax	$ 14,266	$ 17,274	$ 39,380	$ 14,095

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Current assets
Cash and cash equivalents	$ 62,857	$ 59,861
Accounts receivable, less allowances of $10,583 and $11,034	336,716	347,857
Inventories	349,020	338,221
Other current assets	33,839	35,582
Total current assets	782,432	781,521
Property, less accumulated depreciation of $164,742 and $161,466	105,279	107,765
Identifiable intangibles, net	173,460	191,240
Goodwill	203,963	202,700
Deferred tax assets	12,424	12,277
Other assets	16,958	16,522
TOTAL ASSETS	1,294,516	1,312,025
Current liabilities
Accounts payable	137,499	148,543
Current portion of long-term debt	3,248	3,247
Compensation and related benefits	44,427	57,187
Other current liabilities	52,048	65,306
Total current liabilities	237,222	274,283
Long-term debt	323,940	324,583
Postemployment benefits	20,603	21,322
Other liabilities	31,342	33,921
TOTAL LIABILITIES	613,107	654,109
Shareholders’ Equity
Preferred stock—no par value; 2,500 shares authorized; none issued or outstanding	0	0
Common stock—no par value; 80,000 shares authorized; 54,213 shares issued; 39,010 and 39,057 outstanding, respectively	10,000	10,000
Additional paid-in capital	162,639	162,529
Retained earnings	985,297	944,821
Treasury shares—at cost (15,203 and 15,156 shares)	(378,905)	(373,888)
Accumulated other comprehensive income (loss)	(97,622)	(85,546)
TOTAL SHAREHOLDERS’ EQUITY	681,409	657,916
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,294,516	$ 1,312,025

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Current Assets:
Accounts Receivable, less allowances	$ 10,583	$ 11,034
Noncurrent Assets:
Property, less accumulated depreciation	$ 164,742	$ 161,466
Shareholders’ Equity
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	54,213,000	54,213,000
Common stock, shares outstanding	39,010,000	39,057,000
Treasury shares	15,203,000	15,156,000

Condensed Statements of Consol6

Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities
Net income	$ 51,456	$ 48,238
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	7,487	8,010
Amortization of intangibles	12,331	12,325
Unrealized foreign exchange transactions loss	272	65
Amortization of stock options and appreciation rights	1,180	939
(Gain) loss on sale of property	(1,581)	51
Other share-based compensation expense	1,278	954
Changes in operating assets and liabilities, net of acquisitions	(27,252)	(38,187)
Other, net	487	1,451
Net Cash provided by Operating Activities	45,658	33,846
Cash Flows from Investing Activities
Property purchases	(6,710)	(5,737)
Proceeds from property sales	2,648	194
Acquisition of businesses, net of cash acquired	0	(23,250)
Net Cash used in Investing Activities	(4,062)	(28,793)
Cash Flows from Financing Activities
Borrowings under revolving credit facility	1,000	18,000
Long-term debt borrowings	0	125,000
Long-term debt repayments	(1,695)	(97,006)
Purchases of treasury shares	(5,478)	(27,767)
Dividends paid	(21,893)	(21,369)
Excess tax benefits from share-based compensation	0	49
Acquisition holdback payments	(7,069)	(10,614)
Taxes paid for shares withheld	(2,081)	(903)
Exercise of stock options and appreciation rights	195	264
Net Cash used in Financing Activities	(37,021)	(14,346)
Effect of Exchange Rate Changes on Cash	(1,579)	(4,543)
Increase (decrease) in Cash and Cash Equivalents	2,996	(13,836)
Cash and Cash Equivalents at Beginning of Period	59,861	69,470
Cash and Cash Equivalents at End of Period	$ 62,857	$ 55,634

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position of Applied Industrial Technologies, Inc. (the “Company”, or “Applied”) as of December 31, 2016 , and the results of its operations for the three and six month periods ended December 31, 2016 and 2015 and its cash flows for the six month periods ended December 31, 2016 and 2015 , have been included. The condensed consolidated balance sheet as of June 30, 2016 has been derived from the audited consolidated financial statements at that date. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2016 . Operating results for the three and six month periods ended December 31, 2016 are not necessarily indicative of the results that may be expected for the remainder of the fiscal year ending June 30, 2017 . Change in Accounting Principle - Share-based Payment Awards In March 2016, the FASB issued its final standard on simplifying the accounting for share-based payment awards. This standard, issued as ASU 2016-09, simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification on the statement of cash flows, and accounting for forfeitures. This update is effective for annual and interim financial statement periods beginning after December 15, 2016, with early adoption permitted. The Company early adopted ASU 2016-09 in the first quarter of fiscal 2017. The new standard requires prospective recognition of excess tax benefits and deficiencies resulting from stock-based compensation awards vesting and exercises be recognized in the income statement. Previously, these amounts were recognized in additional paid-in capital. Net excess tax benefits of $575 and $718 for the three and six months ending December 31, 2016 , respectively, were recognized as a reduction of income tax expense. In addition, ASU 2016-09 requires excess tax benefits and deficiencies to be prospectively excluded from the assumed future proceeds in the calculation of diluted shares, resulting in an insignificant increase in diluted weighted average shares outstanding for the six months ending December 31, 2016 , which did not have a material impact on earnings per share. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. The standard requires that excess tax benefits from share based compensation awards be reported as operating activities in the consolidated statements of cash flows. Previously, these cash flows were included in financing activities. We have elected to apply this change on a prospective basis, resulting in an increase in net cash provided by operating activities and net cash used in financing activities of $575 and $718 for the three and six months ending December 31, 2016 , respectively. ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. Previously, these cash flows were included in operating activities. This change was required to be applied on a retrospective basis. As such, the consolidated statements of cash flows for the prior periods were revised. This change resulted in an increase in net cash provided by operating activities and in net cash used in financing activities of $903 for the six months ending December 31, 2015 . Change in Accounting Principle - Debt Issue Costs In April 2015, the FASB issued its final standard on simplifying the presentation of debt issue costs. This standard, issued as ASU 2015-03, requires that all costs incurred to issue debt be presented in the balance sheet as a direct reduction from the carrying value of the debt, rather than as an asset. This update is effective for annual financial statement periods beginning after December 15, 2015, and interim periods within those fiscal years. As required, the Company adopted ASU 2015-03 in the first quarter of fiscal 2017 and has applied the new standard retrospectively. The retrospective adoption of ASU 2015-03 resulted in the reclassification as of June 30, 2016 of unamortized debt issue costs of $105 from other current assets to a reduction of current portion of long-term debt and $399 from other assets to a reduction of long-term debt on the Company's condensed consolidated balance sheets. Change in Accounting Principle - Measurement-period Adjustments for Business Combinations In September 2015, the FASB issued its final standard on simplifying the accounting for measurement-period adjustments for business combinations. This standard, issued as ASU 2015-16, requires that an entity that is the acquirer in a business combination that identifies adjustments to provisional amounts during the measurement period to recognize those adjustments in the reporting period in which the amounts are determined. This update further requires that the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The update is effective for annual and interim financial statement periods beginning after December 15, 2015, and is applied prospectively to adjustments to provisional amounts that occur after the effective date of this update, with early adoption permitted. The Company adopted ASU 2015-16 in the first quarter of fiscal 2017. The adoption of this update did not have a material impact on the financial statements of the Company. Inventory The Company uses the last-in, first-out (LIFO) method of valuing U.S. inventories. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory determination. Recently Issued Accounting Guidance In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. In July 2015, the FASB issued its final standard on simplifying the measurement of inventory. This standard, issued as ASU 2015-11, specifies that an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new standard does not apply to inventory that is measured using LIFO; therefore, it is not applicable to the Company's U.S. inventory values, but does apply to the Company's foreign inventories which are valued using the average cost method. The update is effective for annual and interim financial statement periods beginning after December 15, 2016, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. The core principle of this update is that a "lessee should recognize the assets and liabilities that arise from leases." This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In August 2016, the FASB issued its final standard on the classification of certain cash receipts and cash payments within the statement of cash flows. This standard, issued as ASU 2016-15, makes a number of changes meant to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with early adoption permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In October 2016, the FASB issued its final standard on the income tax consequences of intra-entity transfers of assets other than inventory. This standard, issued as ASU 2016-16, requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and eliminates the exception for an intra-entity transfer of an asset other than inventory. This update is effective for annual and interim financial statement periods beginning after December 15, 2017, with early adoption permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.

Business Combinations

Business Combinations	6 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS COMBINATIONS The operating results of all acquired entities are included within the consolidated operating results of the Company from the date of each respective acquisition. Fiscal 2016 Acquisitions On June 14, 2016, the Company acquired 100% of the outstanding stock of Seals Unlimited ("Seals"), a distributor of sealing, fastener, and hose products located in Burlington, Ontario. On January 4, 2016, the Company acquired substantially all of the net assets of HUB Industrial Supply ("HUB"), a distributor of consumable industrial products operating from three locations - Lake City, FL, Indianapolis, IN, and Las Vegas, NV. On August 3, 2015, the Company acquired substantially all of the net assets of Atlantic Fasteners Co., Inc. ("Atlantic Fasteners"), a distributor of C-Class consumables including industrial fasteners and related industrial supplies located in Agawam, MA. Seals, HUB, and Atlantic Fasteners are all included in the Service Center Based Distribution segment. On October 1, 2015, the Company acquired substantially all of the net assets of S.G. Morris Co. ("SGM"). SGM, headquartered in Cleveland, OH, is a distributor of hydraulic components throughout Ohio, Western Pennsylvania and West Virginia and is included in the Fluid Power Businesses Segment. The total combined consideration for these acquisitions was approximately $65,900 , net tangible assets acquired were $22,700 , and intangibles including goodwill were $43,200 based upon estimated fair values at the acquisition dates. The estimated fair values related to Seals are preliminary and subject to adjustment. The total combined consideration includes $3,300 of acquisition holdback payments, of which $625 was paid during the first quarter of fiscal 2017. The remaining balance of $2,675 is included in other current liabilities and other liabilities on the condensed consolidated balance sheets, which will be paid plus interest at various times through October 2018. The Company funded the amounts paid for the acquisitions at closing using available cash and borrowings under the revolving credit facility at variable interest rates. The acquisition prices and the results of operations for the acquired entities are not material in relation to the Company's condensed consolidated financial statements.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Fluid Power Businesses segment for the fiscal year ended June 30, 2016 and the six month period ended December 31, 2016 are as follows: Service Centers Fluid Power Total Balance at July 1, 2015 $ 253,477 $ 929 $ 254,406 Goodwill acquired during the period 18,683 3,285 21,968 Impairment (64,794 ) — (64,794 ) Other, primarily currency translation (8,880 ) — (8,880 ) Balance at June 30, 2016 $ 198,486 $ 4,214 $ 202,700 Goodwill added during the period 3,220 — 3,220 Other, primarily currency translation (1,513 ) (444 ) (1,957 ) Balance at December 31, 2016 $ 200,193 $ 3,770 $ 203,963 On July 1, 2016, the Company enacted a change in its management reporting structure which changed the composition of the Canada service center reporting unit. This triggering event required the Company to perform an interim goodwill impairment test for the Canada service center reporting unit. The Company performed step one of the goodwill impairment test for the Canada service center reporting unit as of July 1, 2016 and determined that the reporting unit had excess fair value of approximately $8,000 or 5% when compared to its carrying amount of approximately $163,000 . The fair value of the reporting unit in accordance with step one of the goodwill impairment test was determined using the Income and Market approaches. The Income approach employs the discounted cash flow method reflecting projected cash flows expected to be generated by market participants and then adjusted for time value of money factors. The Market approach utilized an analysis of comparable publicly traded companies. The techniques used in the Company's impairment test incorporated a number of assumptions that the Company believes to be reasonable and to reflect known market conditions at the measurement date. Assumptions in estimating future cash flows are subject to a degree of judgment. The Company makes all efforts to forecast future cash flows as accurately as possible with the information available at the measurement date. The Company evaluates the appropriateness of its assumptions and overall forecasts by comparing projected results of upcoming years with actual results of preceding years. Key Level 3 based assumptions relate to pricing trends, inventory costs, customer demand, and revenue growth. A number of benchmarks from independent industry and other economic publications were also used. Changes in future results, assumptions, and estimates after the measurement date may lead to an outcome where impairment charges would be required in future periods. Specifically, actual results may vary from the Company’s forecasts and such variations may be material and unfavorable, thereby triggering the need for future impairment tests where the conclusions may differ in reflection of prevailing market conditions. Further, continued adverse market conditions could result in the recognition of additional impairment if the Company determines that the fair values of its reporting units have fallen below their carrying values. In conjunction with this management change, $2,628 of goodwill was reallocated from the Canada service center reporting unit to the U.S. service center reporting unit based on the relative fair value as of July 1, 2016. At December 31, 2016 and June 30, 2016 , accumulated goodwill impairment losses, subsequent to fiscal year 2002, totaled $36,605 related to the Fluid Power Businesses segment and totaled $64,794 related to the Service Center Based Distribution segment. During the six months ended December 31, 2016 , the Company recorded an adjustment to the preliminary estimated fair value of intangible assets related to the HUB acquisition. The fair values of the customer relationships and trade names intangible assets were decreased by $2,636 and $584 , respectively, with a corresponding total increase to goodwill of $3,220 . The changes to the preliminary estimated fair values resulted in a decrease to amortization expense of $156 during the six months ended December 31, 2016 , which is recorded in selling, distribution and administrative expense on the condensed statements of consolidated income. The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following: December 31, 2016 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 231,953 $ 91,601 $ 140,352 Trade names 43,411 17,565 25,846 Vendor relationships 13,772 8,307 5,465 Non-competition agreements 4,582 2,785 1,797 Total Identifiable Intangibles $ 293,718 $ 120,258 $ 173,460 June 30, 2016 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 239,132 $ 84,566 $ 154,566 Trade names 44,430 16,099 28,331 Vendor relationships 14,042 8,003 6,039 Non-competition agreements 4,700 2,396 2,304 Total Identifiable Intangibles $ 302,304 $ 111,064 $ 191,240 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off. Due to continued softness in the upstream oil and gas industry, management also assessed long-lived intangible assets related to the Reliance asset group for impairment during the first quarter of fiscal 2017. The sum of the undiscounted cash flows exceeded the carrying value of the asset group of $100,664 by 8% , therefore, no impairment was recognized. Changes in future results, assumptions, and estimates after the measurement date may lead to an outcome where impairment charges would be required in future periods. Specifically, actual results may vary from the Company’s forecasts and such variations may be material and unfavorable, thereby triggering the need for future impairment tests where the conclusions may differ in reflection of prevailing market conditions. Further, continued adverse market conditions could result in the recognition of additional impairment if the Company determines that the fair values of its intangible assets have fallen below their carrying values. Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of December 31, 2016 ) for the next five years is as follows: $12,200 for the remainder of 2017 , $22,200 for 2018 , $20,500 for 2019 , $18,700 for 2020 , $17,200 for 2021 and $14,900 for 2022 .

Debt (Notes)

Debt (Notes)	6 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT Revolving Credit Facility & Term Loan In December 2015, the Company entered into a five-year credit facility with a group of banks expiring in December 2020. This agreement provides for a $125,000 unsecured term loan and a $250,000 unsecured revolving credit facility. Fees on this facility range from 0.09% to 0.175% per year based upon the Company's leverage ratio at each quarter end. Borrowings under this agreement carry variable interest rates tied to either LIBOR or prime at the Company's discretion. At December 31, 2016 and June 30, 2016 , the Company had $121,875 and $123,438 , respectively, outstanding under the term loan, and $34,000 and $33,000 , respectively, outstanding under the revolver. Unused lines under this facility, net of outstanding letters of credit of $2,704 and $2,707 to secure certain insurance obligations, totaled $213,296 and $214,293 at December 31, 2016 and June 30, 2016 , respectively, and are available to fund future acquisitions or other capital and operating requirements. The interest rate on the term loan was 1.81% as of December 31, 2016 and 1.50% as of June 30, 2016 . The weighted average interest rate on the revolving credit facility outstanding was 2.28% as of December 31, 2016 and 1.44% as of June 30, 2016 . Additionally, the Company had letters of credit outstanding with a separate bank, not associated with the revolving credit agreement, in the amount of $2,698 as of December 31, 2016 and June 30, 2016 , in order to secure certain insurance obligations. Other Long-Term Borrowings In April 2014, the Company assumed $2,359 of debt as a part of the headquarters facility acquisition. The 1.5% fixed interest rate note is held by the State of Ohio Development Services Agency, maturing in May 2024. At December 31, 2016 and June 30, 2016 , $1,764 and $1,896 was outstanding, respectively. At December 31, 2016 and June 30, 2016 , the Company had borrowings outstanding under its unsecured shelf facility agreement with Prudential Investment Management of $170,000 . The "Series C" notes have a principal amount of $120,000 and carry a fixed interest rate of 3.19% , and are due in equal principal payments in July 2020, 2021 and 2022. The "Series D" notes have a principal amount of $50,000 and carry a fixed interest rate of 3.21% , and are due in equal principal payments in October 2019 and 2023. As of December 31, 2016 , $50,000 in additional financing was available under this facility. Unamortized debt issue costs of $105 are included as a reduction of current portion of long-term debt on the condensed consolidated balance sheets as of December 31, 2016 and June 30, 2016 . Unamortized debt issue costs of $347 and $399 are included as a reduction of long-term debt on the condensed consolidated balance sheets as of December 31, 2016 and June 30, 2016 , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Marketable securities measured at fair value at December 31, 2016 and June 30, 2016 totaled $9,888 and $9,097 , respectively. These marketable securities are held in a rabbi trust for a non-qualified deferred compensation plan. The marketable securities are included in other assets on the accompanying condensed consolidated balance sheets and their fair values are based upon quoted market prices in an active market (Level 1 in the fair value hierarchy). The fair value of the debt outstanding under the shelf facility agreement with Prudential Investment Management approximates carrying value at December 31, 2016 (Level 2 in the fair value hierarchy). The revolving credit facility and the term loan contain variable interest rates and their carrying values approximated fair value at both December 31, 2016 and June 30, 2016 (Level 2 in the fair value hierarchy).

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Accumulated Other Comprehensive (Loss) Income Changes in the accumulated other comprehensive (loss) income, are comprised of the following: Three Months Ended December 31, 2016 Foreign currency translation adjustment Unrealized (loss) gain on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at September 30, 2016 $ (84,034 ) $ (23 ) $ (3,746 ) $ (87,803 ) Other comprehensive (loss) income (9,930 ) 34 — (9,896 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 77 77 Net current-period other comprehensive (loss) income, net of taxes (9,930 ) 34 77 (9,819 ) Balance at December 31, 2016 $ (93,964 ) $ 11 $ (3,669 ) $ (97,622 ) Three Months Ended December 31, 2015 Foreign currency translation adjustment Unrealized loss on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at September 30, 2015 $ (84,760 ) $ (37 ) $ (2,844 ) $ (87,641 ) Other comprehensive loss (6,743 ) (8 ) — (6,751 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 78 78 Net current-period other comprehensive (loss) income, net of taxes (6,743 ) (8 ) 78 (6,673 ) Balance at December 31, 2015 $ (91,503 ) $ (45 ) $ (2,766 ) $ (94,314 ) Six Months Ended December 31, 2016 Foreign currency translation adjustment Unrealized (loss) gain on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at July 1, 2016 $ (81,685 ) $ (38 ) $ (3,823 ) $ (85,546 ) Other comprehensive (loss) income (12,279 ) 49 — (12,230 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 154 154 Net current-period other comprehensive (loss) income, net of taxes (12,279 ) 49 154 (12,076 ) Balance at December 31, 2016 $ (93,964 ) $ 11 $ (3,669 ) $ (97,622 ) Six Months Ended December 31, 2015 Foreign currency translation adjustment Unrealized loss on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at July 1, 2015 $ (57,244 ) $ (4 ) $ (2,923 ) $ (60,171 ) Other comprehensive loss (34,259 ) (41 ) — (34,300 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 157 157 Net current-period other comprehensive (loss) income, net of taxes (34,259 ) (41 ) 157 (34,143 ) Balance at December 31, 2015 $ (91,503 ) $ (45 ) $ (2,766 ) $ (94,314 ) Other Comprehensive (Loss) Income Details of other comprehensive (loss) income are as follows: Three Months Ended December 31, 2016 2015 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (9,930 ) $ — $ (9,930 ) $ (6,743 ) $ — $ (6,743 ) Postemployment benefits: Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs 125 48 77 127 49 78 Unrealized gain (loss) on investment securities available for sale 40 6 34 (13 ) (5 ) (8 ) Other comprehensive (loss) income $ (9,765 ) $ 54 $ (9,819 ) $ (6,629 ) $ 44 $ (6,673 ) Six Months Ended December 31, 2016 2015 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (12,279 ) $ — $ (12,279 ) $ (34,259 ) $ — $ (34,259 ) Postemployment benefits: Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs 252 98 154 257 100 157 Unrealized gain (loss) on investment securities available for sale 66 17 49 (63 ) (22 ) (41 ) Other comprehensive (loss) income $ (11,961 ) $ 115 $ (12,076 ) $ (34,065 ) $ 78 $ (34,143 ) Anti-dilutive Common Stock Equivalents In the three month periods ended December 31, 2016 and 2015 , stock options and stock appreciation rights related to 258 and 702 shares of common stock were not included in the computation of diluted earnings per share for the periods then ended as they were anti-dilutive. In the six month periods ended December 31, 2016 and 2015 , stock options and stock appreciation rights related to 602 and 776 shares of common stock were not included in the computation of diluted earnings per share for the periods then ended as they were anti-dilutive.

Benefit Plans

Benefit Plans	6 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
BENEFIT PLANS	BENEFIT PLANS The following table provides summary disclosures of the net periodic postemployment costs recognized for the Company’s postemployment benefit plans: Pension Benefits Retiree Health Care Benefits Three Months Ended December 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 32 $ 23 $ 7 $ 6 Interest cost 173 216 16 19 Expected return on plan assets (115 ) (123 ) — — Recognized net actuarial loss (gain) 218 229 (46 ) (53 ) Amortization of prior service cost 21 21 (67 ) (68 ) Net periodic cost $ 329 $ 366 $ (90 ) $ (96 ) Pension Benefits Retiree Health Care Benefits Six Months Ended December 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 63 $ 46 $ 14 $ 12 Interest cost 346 432 32 38 Expected return on plan assets (230 ) (246 ) — — Recognized net actuarial loss (gain) 436 457 (91 ) (106 ) Amortization of prior service cost 43 43 (135 ) (136 ) Net periodic cost $ 658 $ 732 $ (180 ) $ (192 ) The Company contributed $400 to its pension benefit plans and $90 to its retiree health care plans in the six months ended December 31, 2016 . Expected contributions for the remainder of fiscal 2017 are $350 for the pension benefit plans to fund scheduled retirement payments and $90 for retiree health care plans.

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHIC INFORMATION The accounting policies of the Company’s reportable segments are generally the same as those used to prepare the condensed consolidated financial statements. Intercompany sales primarily from the Fluid Power Businesses segment to the Service Center Based Distribution segment of $5,264 and $5,666 , in the three months ended December 31, 2016 and 2015 , respectively, and $10,528 and $11,234 in the six months ended December 31, 2016 and 2015, respectively, have been eliminated in the Segment Financial Information tables below. Three Months Ended Service Center Based Distribution Fluid Power Businesses Total December 31, 2016 Net sales $ 501,950 $ 106,173 $ 608,123 Operating income for reportable segments 21,209 10,578 31,787 Depreciation and amortization of property 3,522 315 3,837 Capital expenditures 3,616 95 3,711 December 31, 2015 Net sales $ 507,906 $ 102,440 $ 610,346 Operating income for reportable segments 28,401 8,745 37,146 Depreciation and amortization of property 3,695 385 4,080 Capital expenditures 2,424 201 2,625 Six Months Ended Service Center Based Distribution Fluid Power Businesses Total December 31, 2016 Net sales $ 1,017,583 $ 215,388 $ 1,232,971 Operating income for reportable segments 46,855 22,406 69,261 Assets used in business 1,084,878 209,638 1,294,516 Depreciation and amortization of property 6,842 645 7,487 Capital expenditures 6,242 468 6,710 December 31, 2015 Net sales $ 1,041,513 $ 210,737 $ 1,252,250 Operating income for reportable segments 57,302 19,007 76,309 Assets used in business 1,143,601 206,794 1,350,395 Depreciation and amortization of property 7,312 698 8,010 Capital expenditures 5,311 426 5,737 Enterprise resource planning system (ERP) related assets are included in assets used in business and capital expenditures within the Service Center Based Distribution segment. A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Operating income for reportable segments $ 31,787 $ 37,146 $ 69,261 $ 76,309 Adjustment for: Intangible amortization—Service Center Based Distribution 4,670 4,714 9,432 9,286 Intangible amortization—Fluid Power Businesses 1,424 1,528 2,899 3,039 Corporate and other (income) expense, net (11,963 ) (7,458 ) (23,944 ) (15,404 ) Total operating income 37,656 38,362 80,874 79,388 Interest expense, net 2,100 2,158 4,246 4,345 Other (income) expense, net (211 ) 55 (609 ) 1,059 Income before income taxes $ 35,767 $ 36,149 $ 77,237 $ 73,984 The change in corporate and other (income) expense, net is due to changes in the amounts and levels of certain supplier support benefits and expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items. Net sales are presented in geographic areas based on the location of the facility shipping the product and are as follows: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Geographic Areas: United States $ 511,095 $ 509,399 $ 1,036,561 $ 1,047,768 Canada 62,204 67,647 124,785 133,880 Other countries 34,824 33,300 71,625 70,602 Total $ 608,123 $ 610,346 $ 1,232,971 $ 1,252,250 Other countries consist of Mexico, Australia and New Zealand.

Other (Income) Expense, Net

Other (Income) Expense, Net	6 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
OTHER (INCOME) EXPENSE, NET	OTHER (INCOME) EXPENSE, NET Other (income) expense, net consists of the following: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Unrealized (gain) loss on assets held in rabbi trust for a non-qualified deferred compensation plan $ (114 ) $ (275 ) $ (444 ) $ 179 Foreign currency transactions (gain) loss (193 ) 148 (343 ) 671 Other, net 96 182 178 209 Total other (income) expense, net $ (211 ) $ 55 $ (609 ) $ 1,059

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
	Dec. 31, 2016
Subsequent Event [Line Items]
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS We have evaluated events and transactions occurring subsequent to December 31, 2016 through the date the financial statements were issued.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Change in Accounting Principle - Share-based Payment Awards In March 2016, the FASB issued its final standard on simplifying the accounting for share-based payment awards. This standard, issued as ASU 2016-09, simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification on the statement of cash flows, and accounting for forfeitures. This update is effective for annual and interim financial statement periods beginning after December 15, 2016, with early adoption permitted. The Company early adopted ASU 2016-09 in the first quarter of fiscal 2017. The new standard requires prospective recognition of excess tax benefits and deficiencies resulting from stock-based compensation awards vesting and exercises be recognized in the income statement. Previously, these amounts were recognized in additional paid-in capital. Net excess tax benefits of $575 and $718 for the three and six months ending December 31, 2016 , respectively, were recognized as a reduction of income tax expense. In addition, ASU 2016-09 requires excess tax benefits and deficiencies to be prospectively excluded from the assumed future proceeds in the calculation of diluted shares, resulting in an insignificant increase in diluted weighted average shares outstanding for the six months ending December 31, 2016 , which did not have a material impact on earnings per share. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. The standard requires that excess tax benefits from share based compensation awards be reported as operating activities in the consolidated statements of cash flows. Previously, these cash flows were included in financing activities. We have elected to apply this change on a prospective basis, resulting in an increase in net cash provided by operating activities and net cash used in financing activities of $575 and $718 for the three and six months ending December 31, 2016 , respectively. ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. Previously, these cash flows were included in operating activities. This change was required to be applied on a retrospective basis. As such, the consolidated statements of cash flows for the prior periods were revised. This change resulted in an increase in net cash provided by operating activities and in net cash used in financing activities of $903 for the six months ending December 31, 2015 . Change in Accounting Principle - Debt Issue Costs In April 2015, the FASB issued its final standard on simplifying the presentation of debt issue costs. This standard, issued as ASU 2015-03, requires that all costs incurred to issue debt be presented in the balance sheet as a direct reduction from the carrying value of the debt, rather than as an asset. This update is effective for annual financial statement periods beginning after December 15, 2015, and interim periods within those fiscal years. As required, the Company adopted ASU 2015-03 in the first quarter of fiscal 2017 and has applied the new standard retrospectively. The retrospective adoption of ASU 2015-03 resulted in the reclassification as of June 30, 2016 of unamortized debt issue costs of $105 from other current assets to a reduction of current portion of long-term debt and $399 from other assets to a reduction of long-term debt on the Company's condensed consolidated balance sheets. Change in Accounting Principle - Measurement-period Adjustments for Business Combinations In September 2015, the FASB issued its final standard on simplifying the accounting for measurement-period adjustments for business combinations. This standard, issued as ASU 2015-16, requires that an entity that is the acquirer in a business combination that identifies adjustments to provisional amounts during the measurement period to recognize those adjustments in the reporting period in which the amounts are determined. This update further requires that the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The update is effective for annual and interim financial statement periods beginning after December 15, 2015, and is applied prospectively to adjustments to provisional amounts that occur after the effective date of this update, with early adoption permitted. The Company adopted ASU 2015-16 in the first quarter of fiscal 2017. The adoption of this update did not have a material impact on the financial statements of the Company.
Inventory, Policy [Policy Text Block]	Inventory The Company uses the last-in, first-out (LIFO) method of valuing U.S. inventories. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory determination.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Recently Issued Accounting Guidance In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. In July 2015, the FASB issued its final standard on simplifying the measurement of inventory. This standard, issued as ASU 2015-11, specifies that an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new standard does not apply to inventory that is measured using LIFO; therefore, it is not applicable to the Company's U.S. inventory values, but does apply to the Company's foreign inventories which are valued using the average cost method. The update is effective for annual and interim financial statement periods beginning after December 15, 2016, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. The core principle of this update is that a "lessee should recognize the assets and liabilities that arise from leases." This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In August 2016, the FASB issued its final standard on the classification of certain cash receipts and cash payments within the statement of cash flows. This standard, issued as ASU 2016-15, makes a number of changes meant to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with early adoption permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures. In October 2016, the FASB issued its final standard on the income tax consequences of intra-entity transfers of assets other than inventory. This standard, issued as ASU 2016-16, requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and eliminates the exception for an intra-entity transfer of an asset other than inventory. This update is effective for annual and interim financial statement periods beginning after December 15, 2017, with early adoption permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill by reportable segment	The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Fluid Power Businesses segment for the fiscal year ended June 30, 2016 and the six month period ended December 31, 2016 are as follows: Service Centers Fluid Power Total Balance at July 1, 2015 $ 253,477 $ 929 $ 254,406 Goodwill acquired during the period 18,683 3,285 21,968 Impairment (64,794 ) — (64,794 ) Other, primarily currency translation (8,880 ) — (8,880 ) Balance at June 30, 2016 $ 198,486 $ 4,214 $ 202,700 Goodwill added during the period 3,220 — 3,220 Other, primarily currency translation (1,513 ) (444 ) (1,957 ) Balance at December 31, 2016 $ 200,193 $ 3,770 $ 203,963
Schedule of Intangible Assets	The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following: December 31, 2016 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 231,953 $ 91,601 $ 140,352 Trade names 43,411 17,565 25,846 Vendor relationships 13,772 8,307 5,465 Non-competition agreements 4,582 2,785 1,797 Total Identifiable Intangibles $ 293,718 $ 120,258 $ 173,460 June 30, 2016 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 239,132 $ 84,566 $ 154,566 Trade names 44,430 16,099 28,331 Vendor relationships 14,042 8,003 6,039 Non-competition agreements 4,700 2,396 2,304 Total Identifiable Intangibles $ 302,304 $ 111,064 $ 191,240 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive (Loss) Income Changes in the accumulated other comprehensive (loss) income, are comprised of the following: Three Months Ended December 31, 2016 Foreign currency translation adjustment Unrealized (loss) gain on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at September 30, 2016 $ (84,034 ) $ (23 ) $ (3,746 ) $ (87,803 ) Other comprehensive (loss) income (9,930 ) 34 — (9,896 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 77 77 Net current-period other comprehensive (loss) income, net of taxes (9,930 ) 34 77 (9,819 ) Balance at December 31, 2016 $ (93,964 ) $ 11 $ (3,669 ) $ (97,622 ) Three Months Ended December 31, 2015 Foreign currency translation adjustment Unrealized loss on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at September 30, 2015 $ (84,760 ) $ (37 ) $ (2,844 ) $ (87,641 ) Other comprehensive loss (6,743 ) (8 ) — (6,751 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 78 78 Net current-period other comprehensive (loss) income, net of taxes (6,743 ) (8 ) 78 (6,673 ) Balance at December 31, 2015 $ (91,503 ) $ (45 ) $ (2,766 ) $ (94,314 ) Six Months Ended December 31, 2016 Foreign currency translation adjustment Unrealized (loss) gain on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at July 1, 2016 $ (81,685 ) $ (38 ) $ (3,823 ) $ (85,546 ) Other comprehensive (loss) income (12,279 ) 49 — (12,230 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 154 154 Net current-period other comprehensive (loss) income, net of taxes (12,279 ) 49 154 (12,076 ) Balance at December 31, 2016 $ (93,964 ) $ 11 $ (3,669 ) $ (97,622 ) Six Months Ended December 31, 2015 Foreign currency translation adjustment Unrealized loss on securities available for sale Postemployment benefits Total Accumulated other comprehensive income (loss) Balance at July 1, 2015 $ (57,244 ) $ (4 ) $ (2,923 ) $ (60,171 ) Other comprehensive loss (34,259 ) (41 ) — (34,300 ) Amounts reclassified from accumulated other comprehensive (loss) income — — 157 157 Net current-period other comprehensive (loss) income, net of taxes (34,259 ) (41 ) 157 (34,143 ) Balance at December 31, 2015 $ (91,503 ) $ (45 ) $ (2,766 ) $ (94,314 )
Schedule of Comprehensive Income (Loss) [Table Text Block]	Details of other comprehensive (loss) income are as follows: Three Months Ended December 31, 2016 2015 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (9,930 ) $ — $ (9,930 ) $ (6,743 ) $ — $ (6,743 ) Postemployment benefits: Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs 125 48 77 127 49 78 Unrealized gain (loss) on investment securities available for sale 40 6 34 (13 ) (5 ) (8 ) Other comprehensive (loss) income $ (9,765 ) $ 54 $ (9,819 ) $ (6,629 ) $ 44 $ (6,673 ) Six Months Ended December 31, 2016 2015 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (12,279 ) $ — $ (12,279 ) $ (34,259 ) $ — $ (34,259 ) Postemployment benefits: Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs 252 98 154 257 100 157 Unrealized gain (loss) on investment securities available for sale 66 17 49 (63 ) (22 ) (41 ) Other comprehensive (loss) income $ (11,961 ) $ 115 $ (12,076 ) $ (34,065 ) $ 78 $ (34,143 )

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Net periodic costs	The following table provides summary disclosures of the net periodic postemployment costs recognized for the Company’s postemployment benefit plans: Pension Benefits Retiree Health Care Benefits Three Months Ended December 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 32 $ 23 $ 7 $ 6 Interest cost 173 216 16 19 Expected return on plan assets (115 ) (123 ) — — Recognized net actuarial loss (gain) 218 229 (46 ) (53 ) Amortization of prior service cost 21 21 (67 ) (68 ) Net periodic cost $ 329 $ 366 $ (90 ) $ (96 ) Pension Benefits Retiree Health Care Benefits Six Months Ended December 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 63 $ 46 $ 14 $ 12 Interest cost 346 432 32 38 Expected return on plan assets (230 ) (246 ) — — Recognized net actuarial loss (gain) 436 457 (91 ) (106 ) Amortization of prior service cost 43 43 (135 ) (136 ) Net periodic cost $ 658 $ 732 $ (180 ) $ (192 )

Segment and Geographic Inform21

Segment and Geographic Information (Tables)	6 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment financial information	Three Months Ended Service Center Based Distribution Fluid Power Businesses Total December 31, 2016 Net sales $ 501,950 $ 106,173 $ 608,123 Operating income for reportable segments 21,209 10,578 31,787 Depreciation and amortization of property 3,522 315 3,837 Capital expenditures 3,616 95 3,711 December 31, 2015 Net sales $ 507,906 $ 102,440 $ 610,346 Operating income for reportable segments 28,401 8,745 37,146 Depreciation and amortization of property 3,695 385 4,080 Capital expenditures 2,424 201 2,625 Six Months Ended Service Center Based Distribution Fluid Power Businesses Total December 31, 2016 Net sales $ 1,017,583 $ 215,388 $ 1,232,971 Operating income for reportable segments 46,855 22,406 69,261 Assets used in business 1,084,878 209,638 1,294,516 Depreciation and amortization of property 6,842 645 7,487 Capital expenditures 6,242 468 6,710 December 31, 2015 Net sales $ 1,041,513 $ 210,737 $ 1,252,250 Operating income for reportable segments 57,302 19,007 76,309 Assets used in business 1,143,601 206,794 1,350,395 Depreciation and amortization of property 7,312 698 8,010 Capital expenditures 5,311 426 5,737 Enterprise resource planning system (ERP) related assets are included in assets used in business and capital expenditures within the Service Center Based Distribution segment.
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Operating income for reportable segments $ 31,787 $ 37,146 $ 69,261 $ 76,309 Adjustment for: Intangible amortization—Service Center Based Distribution 4,670 4,714 9,432 9,286 Intangible amortization—Fluid Power Businesses 1,424 1,528 2,899 3,039 Corporate and other (income) expense, net (11,963 ) (7,458 ) (23,944 ) (15,404 ) Total operating income 37,656 38,362 80,874 79,388 Interest expense, net 2,100 2,158 4,246 4,345 Other (income) expense, net (211 ) 55 (609 ) 1,059 Income before income taxes $ 35,767 $ 36,149 $ 77,237 $ 73,984 The change in corporate and other (income) expense, net is due to changes in the amounts and levels of certain supplier support benefits and expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items.
Net sales are presented in geographic areas	Net sales are presented in geographic areas based on the location of the facility shipping the product and are as follows: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Geographic Areas: United States $ 511,095 $ 509,399 $ 1,036,561 $ 1,047,768 Canada 62,204 67,647 124,785 133,880 Other countries 34,824 33,300 71,625 70,602 Total $ 608,123 $ 610,346 $ 1,232,971 $ 1,252,250 Other countries consist of Mexico, Australia and New Zealand

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	6 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other expense (income), net	Other (income) expense, net consists of the following: Three Months Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Unrealized (gain) loss on assets held in rabbi trust for a non-qualified deferred compensation plan $ (114 ) $ (275 ) $ (444 ) $ 179 Foreign currency transactions (gain) loss (193 ) 148 (343 ) 671 Other, net 96 182 178 209 Total other (income) expense, net $ (211 ) $ 55 $ (609 ) $ 1,059

Basis of Presentation Change in

Basis of Presentation Change in Accounting Principle (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Payments Related to Tax Withholding for Share-based Compensation		$ 2,081	$ 903
Deferred Finance Costs, Current, Net	$ 105	105
Deferred Finance Costs, Noncurrent, Net	347	347
Adjustments for New Accounting Principle, Early Adoption [Member]
Excess Tax Benefit from Share-based Compensation, Operating Activities	$ 575	$ 718
Payments Related to Tax Withholding for Share-based Compensation			$ 903
Adjustments for New Accounting Pronouncement [Member]
Deferred Finance Costs, Current, Net				$ 105
Deferred Finance Costs, Noncurrent, Net				$ 399

Business Combinations Business

Business Combinations Business Combinations Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 14, 2016
Seals Unlimited [Member]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
FY2016 Acquisitions Seals, HUB, SG Morris, & Atlantic Fasteners [Member] [Domain]
Total Consideration	$ 65,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 22,700
Intangible Assets, Net (Including Goodwill)		43,200
Funding from Holdback Payments		3,300
Atlantic Fasteners & S.G. Morris Acquisitions [Member]
Funding from Holdback Payments		$ 2,675
Atlantic Fasteners Acquisition [Member]
Funding from Holdback Payments			$ 625

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Changes in the carrying amount of goodwill by reportable segment
Balance at June 30, 2016	$ 202,700	$ 254,406
Goodwill acquired during the period		21,968
Impairment		(64,794)
Goodwill added during the period	3,220
Other, primarily currency translation	(1,957)	(8,880)
Balance at December 31, 2016	203,963	202,700
Service Center Based Distribution Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at June 30, 2016	198,486	253,477
Goodwill acquired during the period		18,683
Impairment		(64,794)
Goodwill added during the period	3,220
Other, primarily currency translation	(1,513)	(8,880)
Balance at December 31, 2016	200,193	198,486
Fluid Power Businesses Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at June 30, 2016	4,214	929
Goodwill acquired during the period		3,285
Impairment		0
Goodwill added during the period	0
Other, primarily currency translation	(444)	0
Balance at December 31, 2016	$ 3,770	$ 4,214

Goodwill and Intangibles (Det26

Goodwill and Intangibles (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Amortization details resulting from business combinations
Amount	$ 293,718	$ 302,304
Accumulated Amortization	120,258	111,064
Net Book Value	173,460	191,240
Customer relationships
Amortization details resulting from business combinations
Amount	231,953	239,132
Accumulated Amortization	91,601	84,566
Net Book Value	140,352	154,566
Trade names
Amortization details resulting from business combinations
Amount	43,411	44,430
Accumulated Amortization	17,565	16,099
Net Book Value	25,846	28,331
Vendor relationships
Amortization details resulting from business combinations
Amount	13,772	14,042
Accumulated Amortization	8,307	8,003
Net Book Value	5,465	6,039
Non-competition agreements
Amortization details resulting from business combinations
Amount	4,582	4,700
Accumulated Amortization	2,785	2,396
Net Book Value	$ 1,797	$ 2,304

Goodwill and Intangibles (Det27

Goodwill and Intangibles (Details Textuals) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount		8.00%
Goodwill	$ 203,963		$ 202,700	$ 254,406
Goodwill, Purchase Accounting Adjustments	3,220
Other Intangible Assets, Net		$ 100,664
Goodwill and Intangibles (Textuals) [Abstract]
Amortization expense for the remainder of 2017	12,200
Amortization expense for 2018	22,200
Amortization expense for 2019	20,500
Amortization expense for 2020	18,700
Amortization expense for 2021	17,200
Amortization expense for 2022	14,900
Measurement period adjustment impact [Domain]
Goodwill [Line Items]
Amortization	156
Customer Relationships [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Purchase Accounting Adjustments	2,636
Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Purchase Accounting Adjustments	584
Fluid Power Businesses [Member]
Goodwill [Line Items]
Accumulated goodwill impairment losses	36,605
Service Center Based Distribution Segment [Member]
Goodwill [Line Items]
Goodwill	200,193		$ 198,486	$ 253,477
Accumulated goodwill impairment losses	64,794
Goodwill, Purchase Accounting Adjustments	$ 3,220
Canada Service Centers reporting unit [Member]
Goodwill [Line Items]
Reporting Unit, Amount of Fair Value in Excess of Carrying Amount		$ 8,000
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount		5.00%
Goodwill		$ 163,000
U.S. Service Centers reporting unit [Domain]
Goodwill [Line Items]
Goodwill		$ 2,628

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 2,698
Deferred Finance Costs, Current, Net	105
Deferred Finance Costs, Noncurrent, Net	347
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000
Line of Credit Facility, Amount Outstanding	34,000	$ 33,000
Letters of Credit Outstanding, Amount	2,704	2,707
Line of Credit Facility, Remaining Borrowing Capacity	$ 213,296	$ 214,293
Debt, Weighted Average Interest Rate	2.28%	1.44%
Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.09%
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.175%
Long-term Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 125,000
Long-term Debt	$ 121,875	$ 123,438
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	1.81%	1.50%
State of Ohio Assumed Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 2,359
Long-term Debt	$ 1,764	$ 1,896
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.50%
Prudential Facility [Domain]
Line of Credit Facility [Line Items]
Long-term Debt	$ 170,000
Debt Instrument, Unused Borrowing Capacity, Amount	50,000
Prudential Facility [Domain] | Prudential Facility - Series C [Member]
Line of Credit Facility [Line Items]
Long-term Debt	$ 120,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.19%
Prudential Facility [Domain] | Prudential Facility - Series D [Member]
Line of Credit Facility [Line Items]
Long-term Debt	$ 50,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.21%
Adjustments for New Accounting Pronouncement [Member]
Line of Credit Facility [Line Items]
Deferred Finance Costs, Current, Net		105
Deferred Finance Costs, Noncurrent, Net		$ 399

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Level 1 [Member] | Recurring [Member]
Fair Value Measurements (Textuals) [Line Items]
Marketable securities	$ 9,888	$ 9,097

Shareholders' Equity Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) [Table] (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period			$ (85,546)
Other Comprehensive Loss, Unrealized loss on securities available for sale	$ 34	$ (8)	49	$ (41)
Amounts reclassified from accumulated other comprehensive income (loss)	77	78	154	157
Net current-period other comprehensive (loss) income, net of taxes, Foreign Currency Translation Adjustment	(9,930)	(6,743)	(12,279)	(34,259)
Net current-period other comprehensive (loss) income, net of taxes, Total accumulated other comprehensive income (loss)	(9,819)	(6,673)	(12,076)	(34,143)
Balance at end of period	(97,622)		(97,622)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(84,034)	(84,760)	(81,685)	(57,244)
Other Comprehensive Loss, Foreign Currency Translation Adjustment	(9,930)	(6,743)	(12,279)	(34,259)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current-period other comprehensive (loss) income, net of taxes, Foreign Currency Translation Adjustment	(9,930)	(6,743)	(12,279)	(34,259)
Balance at end of period	(93,964)	(91,503)	(93,964)	(91,503)
Unrealized loss (gain) on securities available for sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(23)	(37)	(38)	(4)
Other Comprehensive Loss, Unrealized loss on securities available for sale	34	(8)	49	(41)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current-period other comprehensive (loss) income, net of taxes, Unrealized gain (loss) on securities available for sale	34	(8)	49	(41)
Balance at end of period	11	(45)	11	(45)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(3,746)	(2,844)	(3,823)	(2,923)
Other Comprehensive Loss, Postemployment Benefits,	0	0	0	0
Net current-period other comprehensive (loss) income, net of taxes, Postemployment benefits	77	78	154	157
Balance at end of period	(3,669)	(2,766)	(3,669)	(2,766)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(87,803)	(87,641)	(85,546)	(60,171)
Other Comprehensive Loss, Total accumulated other comprehensive income (loss)	(9,896)	(6,751)	(12,230)	(34,300)
Net current-period other comprehensive (loss) income, net of taxes, Total accumulated other comprehensive income (loss)	(9,819)	(6,673)	(12,076)	(34,143)
Balance at end of period	$ (97,622)	$ (94,314)	$ (97,622)	$ (94,314)

Shareholders' Equity (Details 1

Shareholders' Equity (Details 1 ) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Other comprehensive income (loss):
Foreign currency translation adjustments, before Tax	$ (9,930)	$ (6,743)	$ (12,279)	$ (34,259)
Foreign currency translation adjustments, Tax	0	0	0	0
Foreign currency translation adjustments, net of Tax	(9,930)	(6,743)	(12,279)	(34,259)
Postemployment benefits:
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, before Tax	125	127	252	257
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, Tax	48	49	98	100
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, net of Tax	77	78	154	157
Unrealized gain (loss) on investment securities available for sale, before Tax	40	(13)	66	(63)
Unrealized gain (loss) on investment securities available for sale, Tax	6	(5)	17	(22)
Unrealized gain (loss) on investment securities available for sale, Net of Tax	34	(8)	49	(41)
Other comprehensive (loss) income, before tax	(9,765)	(6,629)	(11,961)	(34,065)
Other comprehensive (loss) income, Tax	54	44	115	78
Other comprehensive (loss) income, net of tax	$ (9,819)	$ (6,673)	$ (12,076)	$ (34,143)

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders Equity Details Textuals (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	258	702	602	776

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Pension Benefits [Member]
Components of net periodic cost:
Service cost	$ 32	$ 23	$ 63	$ 46
Interest cost	173	216	346	432
Expected return on plan assets	(115)	(123)	(230)	(246)
Recognized net actuarial loss (gain)	218	229	436	457
Amortization of prior service cost	21	21	43	43
Net periodic cost	329	366	658	732
Retiree Health Care Benefits [Member]
Components of net periodic cost:
Service cost	7	6	14	12
Interest cost	16	19	32	38
Expected return on plan assets	0	0	0	0
Recognized net actuarial loss (gain)	(46)	(53)	(91)	(106)
Amortization of prior service cost	(67)	(68)	(135)	(136)
Net periodic cost	$ (90)	$ (96)	$ (180)	$ (192)

Benefit Plans (Details Textuals

Benefit Plans (Details Textuals) $ in Thousands	6 Months Ended
	Dec. 31, 2016USD ($)
Pension Plans, Defined Benefit [Member]
Benefit Plans (Textuals) [Abstract]
Contribution to benefit plan	$ 400
Expected contribution to benefit plans for remainder of fiscal year	350
Retiree Health Care Benefits [Member]
Benefit Plans (Textuals) [Abstract]
Contribution to benefit plan	90
Expected contribution to benefit plans for remainder of fiscal year	$ 90

Segment and Geographic Inform35

Segment and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Segment financial information
Net sales	$ 608,123	$ 610,346	$ 1,232,971	$ 1,252,250
Operating income for reportable segments	37,656	38,362	80,874	79,388
Assets used in business	1,294,516	1,350,395	1,294,516	1,350,395	$ 1,312,025
Depreciation and amortization of property	3,837	4,080	7,487	8,010
Capital expenditures	3,711	2,625	6,710	5,737
Operating Segments [Member]
Segment financial information
Operating income for reportable segments	31,787	37,146	69,261	76,309
Service Center Based Distribution [Member]
Segment financial information
Net sales	501,950	507,906	1,017,583	1,041,513
Operating income for reportable segments	21,209	28,401	46,855	57,302
Assets used in business	1,084,878	1,143,601	1,084,878	1,143,601
Depreciation and amortization of property	3,522	3,695	6,842	7,312
Capital expenditures	3,616	2,424	6,242	5,311
Fluid Power Businesses [Member]
Segment financial information
Net sales	106,173	102,440	215,388	210,737
Operating income for reportable segments	10,578	8,745	22,406	19,007
Assets used in business	209,638	206,794	209,638	206,794
Depreciation and amortization of property	315	385	645	698
Capital expenditures	$ 95	$ 201	$ 468	$ 426

Segment and Geographic Inform36

Segment and Geographic Information (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	$ 37,656	$ 38,362	$ 80,874	$ 79,388
Adjustment for:
Intangible amortization			12,331	12,325
Corporate and other (income) expense, net	(11,963)	(7,458)	(23,944)	(15,404)
Interest Expense, net	2,100	2,158	4,246	4,345
Other (Income) Expense, net	(211)	55	(609)	1,059
Income before income taxes	35,767	36,149	77,237	73,984
Operating Segments [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	31,787	37,146	69,261	76,309
Service Center Based Distribution [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	21,209	28,401	46,855	57,302
Adjustment for:
Intangible amortization	4,670	4,714	9,432	9,286
Fluid Power Businesses [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	10,578	8,745	22,406	19,007
Adjustment for:
Intangible amortization	$ 1,424	$ 1,528	$ 2,899	$ 3,039

Segment and Geographic Inform37

Segment and Geographic Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net sales are presented in geographic areas
Net Sales	$ 608,123	$ 610,346	$ 1,232,971	$ 1,252,250
United States
Net sales are presented in geographic areas
Net Sales	511,095	509,399	1,036,561	1,047,768
Canada
Net sales are presented in geographic areas
Net Sales	62,204	67,647	124,785	133,880
Other countries
Net sales are presented in geographic areas
Net Sales	$ 34,824	$ 33,300	$ 71,625	$ 70,602

Segment and Geographic Inform38

Segment and Geographic Information (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment and Geographic Information (Textuals) [Abstract]
Sales primarily from businesses segment	$ 5,264	$ 5,666	$ 10,528	$ 11,234

Other (Income) Expense, Net (De

Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Other Income and Expenses [Abstract]
Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$ (114)	$ (275)	$ (444)	$ 179
Foreign currency transactions (gain) loss	(193)	148	(343)	671
Other, net	96	182	178	209
Total other (income) expense, net	$ (211)	$ 55	$ (609)	$ 1,059